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All right a huge tax increase is coming on January the first if congress doesn't do something -- office.
I have yet to figure out how -- will create jobs Democrat congressman Peter Welch gave me this sounds if you raise taxes how do you create jobs is what he said yesterday.
During the Clinton years.
We had twenty million new jobs we -- higher tax rates on everybody so obviously then.
The tax policy was a contributor to the explosion of growth and you -- -- -- -- we're OK well that's what -- -- that you raise taxes you create jobs because you lower the deficit because that was set that was congressman Peter Walsh yesterday.
Joining us now as you can see senator Orrin hatch Republican from Utah such -- welcome to the program good to see -- Actually reduce certain it is such a good job thank you so you welcome anytime on -- programs for thank you I'll be happy to come.
If that -- point is that if the president raises the tax rate on income.
-- people making over 250000.
Dollars a year.
The only extra revenue that the treasury brings in is what 28 billion dollars a year is that accurate.
Well that's what the joint committee on taxation said that it that there be a difference between senator Reid's bill which would.
You know just to increase Texas largest -- -- history.
-- never the difference would be 48 billion dollars four days of federal spending so they're willing the Democrats are willing to take us off the cliff.
If we don't give in to their excessive taxation that would hit.
Small businesses almost the -- of small businesses where the jobs are created.
And then I just don't see how the Democrats sort of way -- -- especially back in 1910.
When pressed Obama when things weren't as bad as they are now seven week.
We really can't afford to raise taxes at this point because we've got to keep the economy going we're in worse shape today and the president -- who pays taxes.
I mean it just doesn't make sense but when the Democrats came up with their approach.
We found out my approach to put those things over for -- year.
During which we dedicated that -- -- tax reform and get things under control.
It would have cost 48 but billion dollars more of my approach -- Harry Reid couldn't stand that so and the Democrats contact.
So what they did as they went back to the drawing tables and came up -- an approach that jacked up taxes on.
Death taxes that -- really wrecked car.
The family farms and small businesses across the country and the best they can do is fifty billion -- -- they would get probably 88 days of federal spending.
By taking us over the cliff and doing what they want to do which would also decimate our military.
Okay I is tax reform that what -- -- tax reform to me that means lower tax rates.
Few other tax deductions fuel loopholes.
That's wholesale tax reform.
You think that's on the table seriously on the table for the year 2013.
Yes I'm ranking member on the Senate Finance Committee and I'm dedicated to get something done.
Back and and you know back in in 1986.
It took three years for them to get tax reform through.
And it was a really really difficult time for them.
We think we could do it in a year of Democrats and Republicans -- got together work together.
But we're not gonna be able to get a benefit Democrats Jack up taxes like they wanna do so they can spend more and that's what they do.
Can I ask you two quick questions about other issues which we've been dealing with a -- -- in recent times -- on the on the program possible food stamps.
The program's gonna cost 770 billion over the next ten years but it seems to us like any effort to cut back.
Any effort to trim that program at all it's flat -- rejected.
Why can't we -- trim a little bit from what is a massive program why can't we do that so.
Well the Democrats argue that that's a very good stimulative -- -- that the stimulus for the economy.
Hardly what happened you know before this president came over it's.
Food stamps were for about 36 million people today we're up to 46 1000000% to just some Republicans voted against reform.
Some northeastern Republicans in the senate.
Voted against him.
Well not very many of them and I can -- of this look.
We -- -- take care of the truly -- but we've gone way beyond that you know Stewart that the joint committee on taxation and on throughout nonpartisan committee.
Came out and said that the bottom.
51% of all.
Households not just individuals but households.
-- do not pay a dime -- income taxes now something's wrong there.
I'm not suggesting that the portion have to pay the truly -- not have to pay but everybody ought to have some stake in this even though they -- to have to pay a lot less of what we've reached the point where the Democrats -- got so many people on welfare so many people on all these various transfer payments including food stamps.
That it -- this country alive and people.
They're -- to -- -- -- watch television rather than get -- get a job.
Loans are watching those we have to talk -- a President Obama.
And -- and that he says this is the Roanoke incident that's what I'm calling -- he says small business owners didn't do it themselves they had government to help them.
-- Mitt Romney has this new -- would just listen to this 12 sentence okay.
My father's hands that built the company.
My hands and my something's not -- the somebody else -- on -- -- on my father's out of the finance equipment and somebody else and make payroll every week to figure out where come.
-- that refers to the Roanoke incidents my question is is that one of the defining moments in this campaign the Roanoke incident the speech.
Well I think in this because I think the president truly does believe in sincerely believes that government -- the answer -- everything.
We have to -- put more government spending -- -- -- the economy will be lifted just yesterday they.
The minority leader in the house Steny Hoyer basically said that food stamps are great stimulation of the economy -- Like having people live on welfare and not go after -- pay.
The unemployment rate is a lot more than a -- point 2% when you've got people who won't even look for job now.
Who have enough transfer payments or in other -- welfare payments through various programs for the federal government that they could just at home and enjoy life and -- today.
And and we can't allow that we've got to get to where people work.
They put the time and that they should support their own families and put living off the federal government.
Those who are truly poor -- -- great country we can take care of them but there are a lot of people are truly -- who really could work.
And are not -- looking for jobs today because of the huge number of transfer -- -- -- number of welfare payments that are coming out of the federal government.
Senator hatch what a pleasure it is to have you with us on -- and company please come against -- thank you.
Nice to be worth it thank you so.
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