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Sen. Rand Paul (R-Ky.), goes over the GOP’s competing jobs legislation with the Judge and makes his official endorsement for President in 2012.
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Democrats are targeting teenagers have first responders were at their piecemeal approach to forcing another stimulus through congress.
But my next guest says the real economic growth that while rob taxpayers.
Just -- to his father's plan called the plan to restore America.
Which were cut federal spending by one trillion dollars in a year.
Here to discuss this Kentucky Republican senator Gramm -- senator Paul it's always a pleasure welcome back to pretty much first of what the president wants to do.
The president wants to borrow and give 35 billion dollars to teachers and first responders.
Have a -- is that going to stand.
Think the economy.
I thought we already did that we already had a trillion dollar stimulus package and it didn't work unemployment actually -- up.
So I don't know how the son of stimulus is gonna work any differently and what is the -- proposal that you and I believe senator Portman and Senator McCain.
Advanced yesterday or earlier today.
Which is intended to.
Released people from the burdens that the government sometimes lets them.
Well instead of like the president's program He wants to increase taxes -- decrease tax rates simplify the tax.
Put into effect and regulatory moratorium.
Say that all new regulations have to be passed by congress.
Have a balanced budget amendment to the constitution.
And open up energy production drilling offshore.
Mining of coal you name it we open up domestic energy production.
We think altogether we can create as many as five million jobs.
Not by the government creating the jobs.
But by freeing up the private marketplace to create -- right now I want you to make my day because I had fantasized about this what -- the new tax rates -- What would -- -- rates V what would personal rate individual rates be.
Well you're -- you're getting too -- is are not going to be as good as you'd like I'd like them to -- I'd like it to be down around 17%.
But we got a consensus of folks that agreed to go to 25 and ten.
That's point five for the top individual rate but that's -- much lower than what we have -- when He -- for the corporate rate.
And then at 10% lower rate for individuals.
It does eliminate deductions and some loopholes in the tax code it makes it simpler.
But really lowering the corporate income tax we think would be a big generator of jobs we also think not adding new regulations and trying to take away regulations -- help.
And also the energy production that's -- we have great natural resource is our country we think we can create a million jobs just in the energy sector what I.
What about things like regulatory agencies.
Who do things that the congress would never do like the EPA imposing regulations which the congress itself.
Decided not to pass or the NLRB saying to borrowing.
You can't move from Washington a South Carolina even though you just built a billion dollar plant beside -- of eleven football fields there it's gonna stand empty.
About every year about 200 regulations are promulgate -- -- regulatory agencies.
That cost the economy over a hundred million dollars for regulation.
We take those regulations and say they cannot become law and less they're voted on by both houses of congress and signed by the president.
I think this reform alone would take a lot of power away from the unelected bureaucrat.
But this would radically change.
The the regulatory state because there's a lot of people watching us now might not know.
There is a vast body of regulators out there who are not elected.
Some of them are civil service some of an appointed by the president they can write regulations independent of the congress.
Federal district court judges can't even interfere with those you have to -- in a specific court and the only question is -- the regulators abuse their authority.
Stated differently they can -- almost any regulation they want.
Impose it on business or oppose -- on groups and it stays aloft for many years.
You see there's a well I think as a brilliant way to change its.
Well and here's a good example you've heard of people having their property taken away -- the government says it's a wetlands yes congress never wrote anything about wetlands congress wrote something called the Clean Water Act.
And then the regulatory bodies.
Came up with his term wetlands and they invented this concept.
-- -- birds landed on the Everglades and then flew in landed on your property in Kentucky somehow you were part of an interstate wetlands.
Contingent.
So really a lot of these rules were written by unelected people and really congress had no say in what was written what -- The government enjoy doing this -- your net.
Talking about a hypothetical case you're talking about a real case where a couple in Idaho.
The government is trying to give them their property I don't mean pay them for it.
I mean take away from home and not give them -- -- because of literally the birds and the fish that are in their backyard.
When here's the amazing thing the property of this couple near priest like Idaho it doesn't touch the -- it doesn't -- a -- It has no standing water back they say they've never seen water on their property.
There's a house on either side of them.
They already have a -- took up it's been put in the ground it's a residential development project.
And the government's diameter wetlands and it's -- error the onus is on these people who bought the property to prove it's not a wetlands.
And this will go to Supreme Court and I have high hopes that we have -- of rational minds on the Supreme Court to overturn them I don't wanna.
Get in the weeds but that's another change that you -- Senator McCain and senator Rob Portman can propose.
The onus of proving the regulation should be on the regulatory agency rather than the onus on the victim of that regulation disapproving it.
Absolutely.
All right switching gears -- earlier today -- I guess it was yesterday.
Your -- congressman Ron Paul.
Made a sweeping and bold a proposal.
To cut a trillion dollars in spending should He ever become president that's enormous that's larger than even the proposal that you made a couple of months ago.
When the budget was being debated.
How does something like that.
Rest on Capitol Hill which seems to be filled with big government spenders in both houses and in both parties.
Well you know I'm kind of jealous disease upstage me by cutting twice as much as -- -- -- And he's also gonna balance the budget within one term or really in the third year of office so I am a little bit jealous but I'm very supportive.
The thing is is when you look at the details you can got a trillion dollars to you have to eliminates in apartments is like doctor -- said.
You have to eliminate things like the Department of Commerce which are just chock full of corporate welfare should we really be flying around corporate heads on government jets.
That's something that the occupy Wall Street people -- -- complain about.
Is government money being given to these corporations.
Not capitalism.
But the crony capitalism we're government is giving away welfare to big businesses that's a legitimate complaint.
My father would eliminate all of that and get rid of all the subsidies to business and I think we've radically transform.
This country that I think it also see a boom in the stock market like you've never seen if we balance our budget within one term.
No absolutely what about the Defense Department are Republicans coming around to the idea that the wars have gone on long enough.
That neither of them I'm talking about Afghanistan and Iraq even though there were others as you know.
Neither of them presently serves the national security needs of the country that the troops ought to come home we -- to stop spending trillions.
I think this is by not my father's most important contribution is that even other candidates on the stage are beginning to come around.
You've heard Romney talk about bringing home troops from Afghanistan.
You've heard Rick Perry say something about we don't need so much military adventurism.
You've heard Michelle -- say we should declare war on Libya that's all coming out of the Ron Paul playbook and I think it's that they're listening and that the public is.
Telling these candidates that they need to behave more like Ron Paul.
Before I let you go.
Have you made in the official.
Public endorsement.
Of which of the Republican candidates your -- -- -- I haven't done that I've been saying I'm leaning in the direction as Ron Paul got.
But you know what I'd like to make some news tonight and I'd say I'm officially endorsing Ron Paul for -- Good to hear it and I must say no surprise senator Rand Paul -- pleasure thanks for joining us thank you.
He's for universal health care is advises.
