Also in this playlist...
This transcript is automatically generated
Mitt Romney's comments may be causing an uproar but you spend more truth to the numbers he's using that many critics are letting on here to help us -- -- that was.
Tax policy analysts at The Heritage Foundation and you know we're not talking about the political impact of what he said I -- -- look just at the numbers.
Start with the you know 47%.
That don't pay taxes were talking about federal taxes right federal income tax.
-- 47% of all federal tax filers -- have no federal income tax liability.
That number is much too large it's much too large because the economy's been so weak for a number of years now.
-- he's one -- that number down -- to stronger economy so we have more people working and earning more income.
Someone will come down when that happens -- so long term trend going towards a 2% for a long time besides the weak economy.
Of people are not paying federal income taxes -- they don't make enough money.
In order call -- -- to say you know that there on the -- because they don't have a lot of money.
Well some certainly some certainly don't want a whole lot of of money some some aren't I have -- one comes.
If -- because -- income tax there's actually no there's no reason why wouldn't exempts some level of income.
But you're gonna -- you can that you wouldn't exempt almost half of all income earned from the fact it's it's too -- it's -- too -- for a long time has been growing toward that percent.
For a long time now but what I -- We're looking out on the screen right now is that 28 point 3% of those folks that we're talking about -- payroll tax so it's not like they're paying no tax whatsoever they do pay payroll tax.
They -- -- test but the federal income tax funds things like national defense homeland security and FBI judicial system national parks.
They're not paying -- anything into those those services that we each just think that the government provided aside from retirement programs.
And Thomas likes of security and Medicare so they have no skin in the game when it comes -- increasing spending on those programs.
A so they have they have no reason to push back when people hear what you wanna expand those programs -- what's happening is that we -- is growing.
The government's going and dependency on government is growing as a result the says this is two major problems one is the the government's finances -- can afford to keep spending like there's more importantly going dependency is bad for people it's bad for individuals.
It erodes human dignity we should not want to tell people the -- government we want the independent we want them to leave.
Live -- meaningful purposeful lives and big government prevents that many ways.
Eight from a numbers standpoint if you have 47% of the population that -- -- paying federal income tax if you make an appeal to them.
That we need to lower federal income tax is not going to appeal to them because they're not paying any tax do believe that our.
Man right -- well again number they are paying their -- apparel taxes and are paying other taxes that state and local level what we need is -- tax reform so that.
People have some skin in the game when it comes to paying for federal for -- federal programs -- been talking about.
But doesn't it raise their taxes it means we can -- the the payroll tax in an income tax that they have some security when it comes to pay for the programs.
And for -- for entitlements are Curtis thanks for coming on we appreciate your time.
Filter by section