You're watching...
Indiana State Treasurer Richard Mourdock on why the President needs to focus on spending cuts rather than increasing taxes on the rich.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Know that many of our wealthiest citizens.
Would agree to contribute a little more.
If -- -- reducing the deficit and strengthening the economy that made their success possible.
So -- the -- for this administration it's kind of like big if -- -- given -- only problem as it is not getting the administration much traction Norma on American global economic strikes.
Much support Richard -- says Murdoch has -- -- Says that -- because Americans are far more ticked off about the spending which is why the Republican Indiana State treasurer says his state address the spending first.
And is running a surplus now.
Without slamming the attacks without slanted but he's just the president tried the same thing these are good to see you in the -- thank you agree -- with the armed.
So people I think the against for say -- Richard and -- are doing more but you first of all have to.
Have to prove that they -- and that the product is worth it and I think that's what.
It's -- debate here.
It really is -- you know what we see here is a lot of class warfare going on.
As you indicated Americans by and large and certainly are gonna speak for hoosiers.
They're not interested in seeing anyone's taxes go up they wanna see the spending rollback and wanna see -- -- back dramatically.
You -- reminding me when I'm governor Mitch Daniels was here last night -- when he first took over.
Bomb he wanted to surtax on those make a -- over a hundred grand it in and it it was defeated he was knew it was it was a revenue raiser to close -- budget gap.
Bomb.
But obviously folks then may be fewer now entertaining that as an option.
You would argue coming into office that are it's a zero sum game right that you don't get the revenue you expect.
But that's right I mean it's been proven time and time again and that the raw reality of it is now.
Course and if you were to start to confiscating all income over those that make a 150000.
Dollars a year and just confiscated you're still not gonna take care of the massive debt and deficit that are federal government's continues to recruit.
-- we need to get back on a pro growth policy.
We need to get the economy going and you know there's one thing this administration could do without much of legislative action on this just provide consistency.
In the regulatory environment.
They're not doing that and so we don't see the investment in American businesses that we should see that would really be spurring the economy on.
Arm but also must be something in the water on this tax and because all of a sudden.
Andrew Cuomo governor in New York is is is seriously looking now.
-- re doing the tax code.
And if not a millionaire's tax certainly higher tax on the -- and even after he had initially rejected it to get his latest -- What do you make of that what do you make -- Jerry Brown in California is saying essentially please mister president.
Raise taxes.
Well the first thing I would think -- is that both those states you just mentioned have been seeing some population drops.
Here in New York is certainly you know they've lost to congressional districts because people are voting with their feet and it's largely a tax and economic issues.
And if they want to continue to raise taxes in California.
In New York we say come to Indiana were were actually lowering them showing a good budget in fact showing a surplus and even coming close to that point in our budget where we provide for automatic taxpayer refund something that's almost unheard of -- would you.
That's a very efficient area having lived in Indianapolis world of a little bit in my life -- but there's -- remember that I've heard the Indy 500 -- but the separatist.
But what is -- your sense that Republicans are not behind the eight ball on this issue when the president.
As he did today characterized it as the rich being greedy I'm paraphrasing here and not doing their fair share.
Does that doesn't resonate because when Americans RS that the rules of the rich pay more most do say they show.
But when you get you say when you get to the nitty -- that doesn't hold.
I don't believe it holds because.
People know that those who were -- who aren't making big incomes are generally not the ones creating jobs.
There is a sense and I've I've been around politics for a long time and I've never seen it like this year.
I have people come up to me and an event in Indiana.
Literally wearing.
-- having come from a farm field.
And they'll say to me you know it's Social Security Medicare and Medicaid to make up 60% of the deficit I mean people are -- and then -- now.
And they know it's coming and they they fear for their country is they see this deficit out of control.
And I think is they said they wanna see a cut in spending they wanna see government -- -- Richard Murdoch treasurer of foreign state of them.
India -- well.
