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Sen. Rand Paul, (R-Ky), on how private equity helps create jobs and boost the economy.
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A Republican senator Rand Paul says those guys have a lot to be angry about it joins me now -- -- why do you think silicon valley's men at the president.
Well what I think is is that but what people don't realize about a capital investment firm is when they come and if they don't come -- at all the business may lose all of it's jobs.
So let's say there's a thousand employees -- businesses struggling.
And he needs an infusion of capital may be all thousand lose your job to -- an investment firm comes in.
And 500 people -- or jobs or you could say 500 people keep their jobs so I think these people just don't understand capitalism they don't understand.
Private equity and really -- frankly are being very unfair to rob name.
-- -- point -- out Angel investors.
Basically helped launch we got the list -- there.
Apple Google FaceBook Yelp PayPal all -- helped out by Angel investors.
Do you think it -- spoke the capital gains taxes are gonna rise next year the president wins.
Well I think it's gonna get to be such nonsense that the president will back down because I think the American people aren't that gullible to think that.
Investors are somehow the enemy.
That corporations are the enemy -- rich people in the enemy.
What I think the American people are gonna understand is they want the private sector to grow everybody.
Rich people poor people middle class we want them all -- do better so more jobs are created but it's not.
-- -- against you it's not rich people against the middle class it's not this politics of -- and device Agnes.
It's really about we want all of the private sector to grow -- I don't think jealousy and -- are great political device from the president.
It and it -- were citizens they have bigger government -- I think that's your point right.
Exactly and and really has to be about growing the private sector the government sector should always be kept at a minimum.
-- just not very efficient but jobs are created in the private sectors we need -- lower taxes less regulation.
And let the economy -- if you tax the rich which by the way.
Most small business most all small businesses are in the upper bracket they are in this so called rich brackets.
How -- wanted to do toward paying down the interest costs on the debt.
Well I think what it does is it destroys the people are paying all the taxes right now those who make over 200000 dollars a year pay 70% of the income tax.
Since you punish them and make it harder for them to -- money.
One you create more unemployment but you also hurt the tax base because they are the tax base already.
And see a lot of this is just not true.
The top 1% -- our country are paying nearly 40% of the income tax the top 1% and our country.
Pay more than they do in Europe we have a more progressive tax -- than -- -- in Europe.
So really all of the president's attacks are based on falsehoods.
And I think is this continues to play out.
You'll -- at the American people are gullible enough to buy it.
The anti tax the rich a 100% not only would you demolished -- -- jobs you really wouldn't go toward paying.
The interest costs on the -- for a couple years to just wipe it out but I want to -- just turn onto another subject for a second that divides vice president Joseph Biden had said.
That just because you wouldn't work -- Bain Capital no more qualifies you to be president.
As vs being a plumber -- make of that quote.
Well I think it's not very intelligent -- -- would I would say is I do want someone he's been good.
Act managing businesses that happen and failure in trying to turn that around right now I consider our government to be a failed business.
And so I think governor Romney would be precisely the person I would want to turn around a failing business like our government.
Which -- you know we spend a hundred billion dollars a year that we can't even account for.
Our agencies are throwing good money after bad.
I think someone who has been a businessman who has turned around businesses.
Would be precisely the one you would want to turn around -- country -- -- since our president was elected we spent about five trillion dollars that's equal to Germany and South Korea being added to the balance sheet of the books.
What does the United States get for -- five trillion.
Well not a lot good I would say that we still have twelve million people unemployed were still on a housing crisis if not a depression.
And really what we've done is we've added a burden of about almost 50000 dollars in debt per person.
We're borrowing 50000 dollars a second.
And many -- -- so worried that the European crisis.
Is a contagion that's coming to the United States next in other words we didn't get over -- little went toward building infrastructure seem to have gone -- our -- constituencies.
Like the auto industry -- things like training programs right.
Well -- is if you look at jobs created or saved if you wanna use the president established its 400000.
Dollars per job.
So it's not a very efficient use of capital.
Government is inherently inefficient.
You wanna leave as much money as you can in the wallets of consumers.
And Americans.
And you only want to send isn't the minimum amount to Washington.
Because everything done by government is inherently inefficient -- any get a bigger IRS to collect further bigger the -- gets but I wanna turn to.
Your father how -- your father's campaign going I think there's some controversy about him.
-- -- if -- elected delegates that mr.
Ron Paul -- campaign -- Well I would say that he's been nothing but a great asset for the Republican party's brought a lot of youthful enthusiasm.
Lot of independents a lot of people -- become disgruntled with the Republican Party and it left the Republican Party.
Have come back because of Ron Paul -- I think the Republican Party ought to be very proud of what my -- are doing in growing the party.
Alright senator Rand also good to be -- connect sir thank you so much did some free time and don't look to your father to.
