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Sen. Thune on Reforming the Tax Code

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    Sen. John Thune, (R-S.D.), on efforts to reduce government spending and reform taxes.

  • Duration 3:17
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Who is in leadership will be watching closely from his purview of the senate John tomb of the -- state of South Dakota senator very good to have you great do very much thanks they'll.

What are we need to read -- -- the president's home tonight he's -- gonna say you know what.

It stops here that it gains Republicans are playing obstructionism.

Republicans -- playing all -- Well I would I would argue back is nothing happens in this town -- particularly big things we get some big things to do.

Without presidential leadership.

This president has now leaned in to solving the major budgetary challenges that we face last year the budget that he submitted to congress which you will do here and weaker to.

That was actually voted on the floor the senate was defeated 97 to zero.

Because it wasn't serious.

We're a thousand days now -- -- other data out a budget the senate hasn't done a budget literally and in almost three years -- -- -- days when he had.

The full tape when people say -- I mean he had they had an opportunity do some big things they did some big things most of which was -- more government we.

Dramatically expanded the size and scope of government with a health care bill and some other things -- stimulus bill.

But when it comes to getting spending and debt under control growing economy creating jobs.

The president's record has been a failure but he'll get up to -- you.

And -- what -- but that Republicans -- of fairness should.

Get over there -- opposition saying the rich should pay more because the rich should pay equity backed up.

Well I think that his his argument basically agencies -- -- you talk about fairness tonight we know that we what he's already sort of hinted at that.

But when the president talks about fairness that's -- for class warfare which is code for tax increases.

And so we don't believe that in a down economy you ought to be raising taxes on people who create jobs in this country.

-- of what a deal offers a deal -- -- cut backs aren't spending limits report spending cuts -- part taxing I don't know.

But that he and his argument -- general any time I try to meet them half way they just won't get pass this revenues.

I think that couple things one he has he has never and been serious about reforming entitlement programs which is where the most that there -- that's the big driver of federal spending we can't solve these big problems absent doing that -- -- wanna do what an election year.

Points running for reelection he's never been serious about the issue of tax reform which we believe -- actually would lower rates broaden the tax base.

He had any really slowing economic growth cap gains and right and he's going to -- at a time that -- releases as returns.

The whole issue is how to get away -- -- already did nothing illegal he's bank -- gains on money by the way in which -- paid taxes prior right having said that.

Does this open up a populist -- from which Republicans can't recover.

I don't think it does because I think that more and more Americans are investors and when you have more investors you have more people who understand the rates at which capital gains and dividends are taxed and why they they are taxed at lower rates -- to create more investment we -- to get people back to work in this country want people to invest money.

And and that's why capital gains tax rates are -- are.

We happen to believe that if we're gonna get people back to work -- -- we're gonna grow jobs.

That we've got to have tax reform we've got a good tax policies we've got to keep the rates down on people -- jobs.

We were so much for us and senators trying to do very much -- there's.

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