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Payroll Tax Cut’s Impact on Hiring, Consumer Spending

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    Apple-Metro Chairman Zane Tankel on why tax reform is needed to help companies and the rich hire more.

  • Duration 4:10
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Payroll extension a done deal -- my next guest says it is a bad deal because it simply will not create jobs.

The Baghdad -- is the chairman of apple -- it's a company that owns more than thirty apple be locations in the New York area.

And the guys stand and that is the common and they -- have you thank you upon what's been happening to restaurants well we've seen we've seen things.

Crank -- right along up until about two weeks ago and I think always hostility.

In that country in the congress in the economy and in Europe as making consumers get second thoughts and back off because for some reason.

We've sorted trailed down over the last ten days up until -- will be -- has been ordered chicken -- because.

You know it's -- for some people who do you think Peter's piece of their budget so they are what their worries are admit to our queries are your reflection of the times.

All right but up until all of now that it's been resolved -- at least for the next couple months.

Any difference.

No but the -- in in my humble opinion.

People say they use expression kicking the can down the road it's not kicking -- -- down a road it's dealing with the symptom and not the problem.

The problem is people are unemployed the -- is people are unemployed.

Where you gonna devote your energies to the unemployed people to continue this or are we gonna focus on putting them back to work.

What would it take for guys like -- to be more -- -- of course you have so many restaurants and all but.

But do you base your hiring for example on a on a payroll tax cut whether in the view of president learn not gonna get -- but your workers are right.

On the -- that's gonna make a big difference ends of the people go to your restaurants it might make a difference in outlook.

Well it probably will in all due respect to -- look more discretionary income permits people who spend more money.

And I guess that's the velocity of the president but the reality is -- for a long term fix would probably need overall tax reform all the way across the board.

I don't mind paying more taxes.

In fact that the probably the rich should pay some more taxes but the only problem with that is.

Like socialism the only problem with socialism is you run that other people's money.

And and continue to take and I think that the Republicans frankly have not done a good job.

I think of making their point because -- point is very valid and it's very solid you can't take from one income group.

And pay for another income group of mean in essence the -- you say the rich should pay more in taxes.

Is there a ceiling when I have a lot of democratic -- on here and and others who argue for higher.

-- -- -- And it's it will what was -- -- if it's not 35 present it's not gonna be back to Clinton 39 point six to what is it.

Many didn't go well past -- dupers yet no no no no no no we.

Look we should be applauding the rich from banging drums.

Blowing new -- because they're the ones that while higher back to.

The the unemployment is with the even the rates as they are they're not doing that so -- you might as well stick -- to and that's arguments letter and how that's really good you're sick so large get a good disease because you're sick.

That's very good accountant that that that's a that's a great argument that moves on -- it doesn't make sense now of course not of course nine was so wooded area if when things pick up.

That's the time does apple.

Nothing now that there there is not a time to zap and again we should be applauding.

Those folks because they're the ones that are gonna rehire and get people back to work the government is -- going to get we got that model Greece.

-- England France -- that we watch in fact it's right there front of us.

Why the president doesn't see that that model doesn't work.

Is this -- of the army but it's not really but -- how would -- know.

He was an activist.

He was he might have gone to one of your restaurants you know -- Might have.

I'm rob doubled so you might have would remain out of given them a seat where he wanted he may have there -- risks that you think he's clueless when it comes to the average folks -- to your restaurant.

I don't think he's clueless I know he's clueless I absolutely no he's clueless how would -- know.

OK so you're up for next -- weather has been supported below you don't get through this -- introducing you thank you --