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Forbes: Ryan Right on Kennedy, Reagan

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    Forbes Media Chairman Steve Forbes on the tax debate during the Vice-Presidential debate.

  • Duration 6:09
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Stay on your money one of the big moments that the debate last night came when the -- were talking about taxes.

Listen to this exchange.

The only way you can find five trillion dollars in loopholes.

Is cut the mortgage deduction for middle class people cut the health care deduction middle class people.

Take away their ability to get a tax break to send their kids the college.

That's why they -- -- -- about that is wrong about that.

There -- -- you can cut tax rates by 20%.

And still preserve these important preferences for middle class taxpayers not mathematically -- it is mathematically possible.

It's been done before exercise we're proposing it has never been done before it's been done a couple of times I just never jet already lower -- -- -- growth -- already out -- Jack Kennedy Ronald Reagan.

Entrusting.

I say the president -- in the vice president got it wrong.

John F.

Kennedy Ronald Reagan George W.

Bush they all lower tax rates when -- lower those rates revenues the treasury went off now why.

Because it encouraged economic growth.

Joining the company right now is someone who agrees with -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- I I think this is economic history 10 won't you lower tax rates it stimulates the economy money flows to the treasury.

I think by Joseph Biden got -- flat out wrong last night.

And you say.

It was absolutely wrong he's trying -- -- the moment in 1988 when -- put down -- Dan Quayle you're no Jack Kennedy.

Ryan was not comparing himself to Kennedy is talking about Kennedy's tax cut proposals which -- enacted worked brilliantly the American economy -- Kennedy cut them across the -- over 23%.

And the budget deficit went down the American economy -- up and the key thing is.

Let's forget about the government their their their total mess the key thing is what does it do for the American people and the American economy.

Reducing the burden of price of good things like productive work was taking success as always good for the American people.

Brian was right on Kennedy -- right on Reagan and for the four years we have the bush tax cuts they work.

You have taken thoughts and Republican high level presidential debates it back in no was it a move.

Noted it -- 96 and 2006 and 2000 -- in those debates okay.

How do you judge Biden's performance -- -- deal with that you've been that -- -- All of the base of the party would love it but I think that most independent voters has more more they see those clips of that debate.

Are going to be put off by his snide.

Sneering sarcastic remarks there are no substitute for substance and I think what comes through in this debate with the -- -- Paul Ryan is this administration not only has a lousy record.

But no -- -- proposals positive proposals for the future Ryan did.

So I think the more people reflect the more he goes up and that's reflected in the post debate polls in terms it again just performance in the debate not the contents -- on the issues but the performance of the candidate Paul Ryan -- judgment that.

Ernest substantive did not get flustered -- this older guy tried it in erupted in -- and what eighty times now maybe a hundred times.

So what I think -- -- held his own and did well he could not let himself get flustered by Biden's constant swiping that I've got a lot of comments this morning saying that Biden schools.

-- -- Told him a few things.

Not.

No Ryan and I think summed it up at the end we have proposals positive tax proposals to get this economy moving.

You other guys don't mean did so and respectful way.

I think the fact that he kept his composure Mavis points of hell was home on foreign policy yet as a PO PP people they would not expect -- Paul Ryan.

I think to help them in very good step.

You can we get back to the tax cuts for just a second because let's let's be real here okay 1920s tax cuts cut revenues go up 61% Kennedy.

Taxes cut marginal tax rates cut dramatically.

-- -- go up 62% Reagan.

He does the same thing same impact this isn't something that were unfamiliar with this is familiar territory we know what happens when you cut tax rate.

The economy grows.

-- Then so why did Joseph Biden say you know quote him directly he never happened it has never happened.

Referred to what -- talk about you cut tax rates and revenues go up he says he has never happened but it did yes and that's wishful thinking.

And -- we also have forgets the 1986 tax act.

We're we're we're trying cited where they removed hundreds of tax shelters from the tax code cut the top tax rate from fifteen to 28%.

The American economy responded.

And that's what Romney proposes to do sit down be -- the coat and cut tax rates across the board.

-- done it before them.

Asked why Biden said this when especially -- -- he either doesn't know the history of cutting taxes and the results.

Or he's -- he's he's just blatantly Lonnie well -- -- up on the question about the Afghanistan and -- course he said I didn't vote for those.

He's been on the record voting both for military action in Afghanistan and Iraq these are easily provable things.

What -- things I thought was so interesting it was it sort of cross section of the style and the substance.

Was when he started laughing about very serious issues who's laughing about taxes -- was laughing about Afghanistan and Libya and Iran with a nuclear weapon.

And what it showed was that he and his boss have a fundamentally -- serious approach.

To the nation's very serious problems that's how I read it and I think that that was a great symbol for how their -- -- -- out.

Everybody is saying that take away is that the vice president one but I think that's the media's take away.

I think the average American has a far different view today -- -- that now and that's what the post debate surveys -- demonstrated.

People were put off they like the fact even if you don't agree with -- he -- substantive respectful clearly up for the job including a man on growth.

And Biden was back -- the bar remote stool just yapping away no matter what you say just snide at rap rap rap -- I think public opinion shifts the -- we see what you just described so eloquently -- -- a tough time.

Because people always a pleasure thank.

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