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Joining us now for more on the state of the union the so called Buffett rule in the heated Republican presidential nomination contest.
Republican senator Jim -- of South Carolina also author of the new book now or never saving America -- economic collapse.
Senator very to have you here and let's start with what you expect.
The president to lay out tonight.
And what concerns you most about.
Well Lou we've gotten a pretty good outline of what he's gonna say it's not unexpected that he can't run on his record so he's gonna run from it.
He's gonna trying to distract from that -- Starting this conversation again about we need to tax the rich.
And -- you know we don't have a tax problem in America we have a spending problem.
The and the level of spending increases the growth of government and regulation.
Hit is killing our economy hurting the middle class and the president's gonna try to make us think that the problems and our country or because they're successful people.
And they need to pay a larger portion of our taxes but.
If you look at the numbers -- the they are successful in America pay a higher proportion of national taxes of any country in the world.
-- and it is that a winner for the Republicans though senator.
Two if you will defend the tax rates of the rich to be drawn into the conversation even.
Because the president is carrying out with this language clearly class warfare.
What you desert really help the Republican Stephen and indulge and it.
That you you're right we we need to agree what we've been working on for years is just tax reform with a flat rate.
Take away all the loopholes and subsidies for the rich and for the all the companies or whoever you want to talk about.
We have made these proposals for years that the Democrats have have blocked.
And they're the ones who have left us with a tax code with all these loopholes.
And add another rule like the Buffett rule.
Make it more complex makes no sense up but you're exactly right we need to say yeah you're right this tax code is messed up let's fix it.
What do you think would happen -- finance Warren Buffett on this broadcast to say just -- you know if you want to raise taxes let's.
Let's raise but let's drop all of the wage earners brackets in this country.
And let's just raise those capital gains taxes up about Tony -- 5%.
What do you how long you think you were taken to start spotter.
Well I think he -- stutter right away but the way it works for most Americans Lou as you know when my work can save our whole life and and get a little savings or investment and we might spin off a little capital gains.
But for most people.
We work our own lives and if if you -- a name millionaire earners in America a 50% of them only do it for one year.
We don't have a permanent class of millionaires -- we have mostly hardworking people a few make it to the big time most others don't well.
There amongst the candidates running you you have not endorsed anyone -- some discussion always about who who does -- senator demand.
In his heart of hearts.
You're watching what is a pretty darn darn good contest all of a sudden.
Rick Santorum is doing better than he was Paul holding where he's been.
Romney and Gingrich I mean they are having a slugfest here that's got to be good.
Well perhaps -- -- The party elders if you will or the apparatchiks.
If there's such a thing on the Republican side but.
I mean for but the rest of us this is this slugfest is good stop.
Believe it is and I think what we're looking for is not one who can claim to be the most conservative.
The one he's got a little firing their belly and is willing to take on the Democrats the media.
And it whoever's not telling the truth that's the most frustrating thing for Republicans.
Is that we don't fight back against what people think our lives and misrepresentations.
Of what we believe.
And so I think they're they're looking for the candidate who's who's ready to take the fight to the other side.
-- -- kind of exciting to see if the Republicans and Electra -- who's doing the best job of fighting for.
The middle class in this country and those who aspire to it.
As senator -- it's always good to talk with -- thanks for being with us here night.
Thank you --