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Small Business Authority CEO Barry Sloane on Obama’s push to increase taxes on the rich in an effort to be more fair.
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It's Barry Sloane says this is not about the war on classes.
This is a class this -- -- capitalism very good to have you back well at least we know now the numbers are out there we had a much better idea when an -- Well it's it's pretty complicated -- the president goes out there it talks about fairness and is it fair that 1% of the attacks tax -- out there are paying 37% of the tax.
Is it fair that 49% of all American wage earners are paying no tax.
Is it fair that the president and congress.
Can't get their budget act together so they're spending one and a half trillion dollars more than the tax receipts that are coming in.
Which is basically debt that you and I and everybody in the audience has to pay that's clearly not fair.
You know kind of bothered me about a little bit since the Euro hardiness.
When you say fairness and I -- they -- want to make that argenbright.
But -- to your point about the nearly half American -- being -- income tax.
-- could you at least throw that out there.
And even allowing for the -- you don't think the rich pay enough they certainly be a substantial amount on its so to vilify them.
I think is a little bit close the door on any open door relations with them.
It's a shame he.
The rich -- -- the bad guys -- make -- way too much money when he -- what he really should do was put most households and businesses do today.
I'm taking in so much money in.
This should be my budget.
It's gotta be balanced that's which grossly unfair the only thing that is really unfair in this whole conversation.
Is Washington.
Because they shouldn't be spending Americans and more Americans money that tax receipts are -- yet but what -- -- -- going on -- very with the guilt about wealth and I as I mention it because Fred Thompson's -- earlier.
The former senator executive Gingrich multiple and he is saying it this moron wealth is is is unsettling and and Donald Trump and -- much the same thing.
Did did we are attacking.
Capitalism itself by going after.
Essentially all capitalists not -- this that the few senators out there but lumping them at the same -- People beloved good big government.
Look to victimize certain people -- unfortunately if you go back in history.
They've been many governmental leaders in our countries all across Europe and socialist countries that will demonize the capitalists that are making good money.
So it's a very easy prey on people that aren't making money to save those are the bad guys.
They are taking it away so what would be default -- I remember we had the luxury tax implemented all those.
The guys are making -- -- Groton Connecticut we're losing their jobs and they weren't.
-- is making the -- the fallout is when the president comes out with a state of the union speech like this it debilitated small business owners we deal with small business owners every single day.
And their optimism is going down when they get concerned.
About the president making a statement that if you -- 250000 dollars -- last you're not gonna be affected.
The implication is that if you earned 250000 dollars or more your taxes could go up so -- a small business owners do.
They stop hiring they stop buying plants and equipment they stop buying hardware or software.
And they pull back and that is bad -- not -- that yet.
They might mean they've they've come out and their funk.
On you think they returned to that.
Given this message well it's always it's always a matter of degree -- Iran -- growing may have two or 3% and it really potentially should be growing at for a 5%.
Particularly when you look at how long this business cycle has -- on the downside.
Very -- very very well if parents don't.
