You're watching...
Rate Coalition co-chairman James Pinkerton on paying off the government tab.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
-- make you -- -- well irritated Americans for Tax Reform calculated in Americans won't have to work.
I whopping 197.
Days just to pay for the cost of government and 2012.
Jim Pinkerton co chairman of the -- coalition Fox News contributors here with us in the studio he doesn't look irritated but he might take -- that should -- biggest take -- right -- your take out.
-- -- -- -- -- -- -- Should realize that the problem is not that Americans under taxed as some people say is that we're overspend and over tax and so the challenges what we're gonna do about it now going forward when when thanks to the Americans for Tax Reform we see clearly how great the problem that's.
-- -- -- think no I would I'm just gonna save -- but but but -- that's it that this thing that when you look at how much we spend ended and this is this number we should point out.
Is a federal.
It's federal state and and local and bit there.
What caused lawmakers are never ever willing to cut spending and I think that that's how they're guilty on the right and the left of doing that I mean why is there any -- we had to be hopeful at all.
That this will get -- because I think.
Necessity has a way of sort of putting the cold steel against your ribs sometimes and for example.
When we see the weighted.
We're losing jobs overseas you know when you see that you know corporations like -- company you're leaving Ohio a hundred years to go to.
Ireland it becomes a crisis when you see that that of the top 500 corporations.
In the world.
The number that are located in the US has fallen by 26%.
Just in the last eleven years at some point even the political class has to wake up and say while -- -- we got to do something about we got to fix it does that.
Mean -- and that's it just focus specifically on taxes does that mean that we never raise taxes -- coming up on this fiscal cliff that everybody's talked about the end of the year which would be a combination of tax hikes and spending cuts.
But longer term when taxes are reformed which I think they will be at some point.
The Fed does it today it doesn't include more revenue as well we're just never ever -- I think the lesson is that tax reform done properly raises revenue.
The 1981 Reagan tax cuts ultimately raise revenue in the 1986 tax reform ultimately raise revenue and like some samples -- some well if there's a broader base that gets the government out of picking winners and losers and loopholes and exemptions on -- into the game of saying look.
The business of all kinds just do your stuff make jobs make profits and television the government but keep most of it keep more -- for yourself.
That's the formula that I think we need we had in the eighties and that we needed to get in the -- Always cry -- the individual cries foul and any business that we get hurt by.
Closing the loophole or getting rid of -- -- Is going to scream and Holler till the cows come -- think we got it done in the eighties but is there anything that makes you think now that we can't get it.
I think the the reason we will get it done I'm optimistic in the next count in the next year -- and has -- necessity again to those -- what politician either party.
Wants to go to the voters and say look eight point 2% unemployment.
Is the new normal.
The hemorrhage of jobs to China and and other places around the world is that that's the new normal to -- we wanna focus on something like get really have to country has -- federal and -- and it might end -- -- with the highest tax.
Company at the country in the world -- -- the corporate income actually pay a higher rate here pub companies do than any other country in the world just unsustainable Jim Pinkerton thank you very much of him.
Thanks so much as a -- tell our stocks now.
