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Former Reagan Economic Advisor Art Laffer on the California governor’s efforts to increase taxes on the state’s high earners.
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What -- government Jerry Brown continues his push for higher taxes on the so called rich he wants them to pay almost 30%.
-- -- why is it going after the rich.
He has his Russian and done very telling exploration.
-- elected to actually anybody but you've got to go earliest.
I'd just like Willie Sutton who want to rob banks because that's where the money is why do you tax the rich because that's where the money it's all right does down next guest hillside in.
But Governor Brown could actually end up saving -- California.
-- -- think he's smiling now he's the also all of how to fix California -- he joins us from Nashville Tennessee.
On the last time your own -- accurate if you think fifty -- last time you're on what you said look it governor Romney becomes the -- with a new administration.
Governor Brown could just turn around -- want to become a totally different governor.
And save California.
You still think there.
Well let me just say that we've got a huge battle going on in the state Stewart I mean you guys just talked about -- you're so right there you talked about Vermont.
Its -- right -- you talked about Illinois you're so right there you look at Minnesota you look at California you've got all these states behaving very badly.
Then you've got a bunch of states behaving beautifully.
I mean Oklahoma Kansas Missouri Indiana it is a huge battle ground that's going on in the states.
And frankly Jerry Brown did it before now he's behaving very badly today this is an awful proposal.
And what she didn't mention on this proposal which is even worse is that it's retroactive to January 1 of this year.
Which is just I mean.
Just outrageous.
But Jerry Brown in 1978.
Swung and reversed the whole process summary we got the spending limits we index the personal income tax we passed proposition thirteen.
I mean it was great -- we got rid of the estate tax you know Jerry Brown was the first presidential candidate since 1913.
To run on eliminating the progressive income tax the United States.
As governor -- as -- as mayor of -- be put it charter schools a military academy in there.
I think so he has the capacity in the -- -- just like Bill Clinton easy to hello my guess -- he could be the one I don't think it's ever too late for a state.
Ever too late to save you know.
That you're never too late to start -- the day over again and Jerry Brown is the guy who could do it now he's not doing it right now.
This is now reg -- bad proposed but it would and again -- -- -- gap but not selling appeal -- lady thought it would be a total walk down 83180s.
-- he's -- 31 it is already.
I -- you know Jerry Brown is a very Smart man who understands that this stuff.
Does not work he knows very well that these guys are leaving.
Because of California do it I left I went to Tennessee because of outrageous policies by Schwarzenegger and the rest -- -- Jerry cans which let that -- is that there is.
No change in policy that Governor Brown does not do a one a what we've got now yes stays in place want.
-- in the future because the deficit keeps on growing people keep on leading.
What what what is the crunch.
And when does it happen well let me tell.
I'll tell you exactly what does happen -- go go to Michigan.
And look at Detroit go to my hometown of Cleveland Ohio and look at what they've done to my home state look what they've done there you are seeing that hollowing out of California.
Just occurring on a daily basis it's outrageous.
You could have a complete disaster over thirty years.
You know I honestly hope and I don't think that's going to happen because once you get new political view in the national environment.
Then you're gonna find a lot of these Democrats coming and joining us an understanding -- -- there is not one Democrat today and seriously.
-- Stewart this is really true who would run his family business the way he -- running our country.
Who would run.
His family the way proposals running our country that you know they're wrong you can't tax an economy in the prosperity it's still put -- selling.
But we need to have one of them fall and switch sides just the way we did what Bill Clinton back when that happens.
You're gonna see fantastic changes I hope office.
We I'm presently -- -- -- -- -- I mean I'd love well optimism I found it up a profoundly American sentiment and we love having you thank you think you totally wrong lighting up the and I couldn't keep up to me to love avenue off.
Thanks thoughts well I I get I don't thank you very much now you've got ten seconds what we gonna side.
I was gonna say add much better forecast in the past and I am the future if what.
You are good men that are offering related -- a good man.
