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Ellis Henican, FOX News contributor, takes on FBN's Charles Payne over the U.S. tax code and Mitt Romney's approach to tax reform.
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Joining me now with his take on this issue.
Fox News contributor Ellis Henican Ellis welcome wasn't available -- -- -- -- listen I'm trying to get here around here.
Mitt Romney is -- effective tax rate 15% has ignited a firestorm.
-- because there is some.
And fundamentally unfair and our tax code -- Charles that takes the income that rich people tend to make dividends and capital gains -- that sort of thing.
It taxes it at a dramatically.
Lower level -- the kind of incumbent middle class people make that normal earned income than most of -- take home.
I don't think there by accident I think it's because of a lot of the loopholes that have come up over the years and I think a lot of middle people should be bullish second let's get some of these guys to pay their share number -- About middle people who also putting money aside for retirement when they get older and they also hopefully maybe one day we'll be able to live -- dividends as well.
Would you like to punish everyone went and offered evidence or -- people on a certain tax -- certain income level it's -- punishment -- -- -- expenses in society we need to fight two wars and build some -- and have some presented to a -- -- -- -- -- call let's not -- this thought about that this is something much money this has nothing to do about us paying our bills and everything -- do a punitive punishment.
And B class warfare bring down the -- this that this has nothing to do with economic session lows there would be no reason for -- we were given these folks these we were lying for so long why what is -- afraid I can't if I'm an investment and I lost everything to the -- honestly don't -- -- ten.
I -- I would have no and so a lot of so what reimburse me for that all the people that lost money in the stock market in 2001.
No want from a government -- around writing them checks you take the risk your life and I don't want to think that maybe -- rewarded for.
Trust do you think -- -- -- who coincidence that the kind of income that those 1% of its in making its tank than such a project -- puny little rate.
And the stuff that is that that most of our our view is a paying a tax sky don't happen by accident.
It's whether -- accident and not my point -- -- in this country right now how do we how do we become such a great company how we have country we have these great incredible companies we talk about -- every bit of -- of the world -- -- its books.
In -- on the front page of USA today and Friday they're gonna -- hundred million dollars initially where does that money come from.
Army to comes from creating products and service what is your money on I'm the only coal initially people in the that's very deeply managing editor -- -- And it NN Washington to something wonderful to make this the greatest country -- why don't we want to harm that because we're jealous of rich people the -- -- nominal that's not.
A reason to do what is that we have to pay for stuff anarchists some.
And we ought to have some basic equity Charles you've seen the wave -- more wealth is concentrated in few and jewel like that do you.
I'm not worried about where the well there's a word about how do we create future well at -- taking while that we took all Bill Gates is money every single network -- the person watching this show right now has been unemployed for three years won't get a job tomorrow it won't change -- circumstance that we want to talk about wealth in this country we should talk about something -- -- whenever something you've got very well schooled.
John tell you to Virginia farmer politician he wrote this and -- -- 1820s.
He said that he singled out to threats to economic quarter one.
Personal would be the -- plundering the rich suddenly and violently the second what would be the rich plundering of course slow and legally can we at that point right now where we're talking about -- on either side of the -- -- -- -- this country come to that point well one side has a -- the other -- I don't think we equated the plunder level yet -- you know QE is a rising frustration in the middle -- -- it is being expressed in a lot of different ways more.
Or you can say is being exploited and a lot of -- -- -- politics is gonna be -- on all sides of the do not ignoring my friend I'm Bolivia I'm not gonna ignored and we can't ignore it's going to be front senate and hopefully we'll be back here to talk about it more.
Ellis Henican everybody thanks -- it.
-- like this handshake at the end I was at a certain stimulus.
They couldn't go to does that weapon is that I -- it's a good hour and a bit -- guys definitely -- and I was still ahead we're bringing you millionaire advice at no cost to worth magazine feature money managers -- -- -- -- We'll tell you how to profit from -- and Mozilla CEO Gary Kovacs.
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