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Former J.C. Penney CEO Allen Questrom on why he would pay higher taxes in an effort to boost the economy and job growth.
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The more successful people of our society will probably place.
Slightly more in the way of taxes I think it's just fine I think -- one -- slightly more success of people within more.
We'll we'll be happy to pay some more in the way of taxes.
In my case -- looked -- that Romney -- very carefully and yes -- -- reduction on the tax rate but don't.
Certainly take away all -- so you Charles Schwab will end up paying more under Romney I probably would and I I'm a hero -- -- Perfectly fine if we can get this country turned around and get back to where innovation -- were.
Gross counts.
Where success counts as good things not as negative things.
There's an average -- rich guy who is swelling and -- habit -- that more in taxes but not Barack Obama as a way toward more in taxes Mitt Romney's wet.
Does that seem a little bit confusing but the former JC Penney CEO Alan question on whether.
-- clauses right plot these simplifying.
The tax code and helping business the president's distorting the tax -- killing business is there a distinction that -- and that's the one obviously.
Chuck Schwab was drawing what are you police.
Do I do I think that that I think chart swab is right on I think that Romney's plan.
Really cuts the rate down which is really essential.
I -- -- should the middle class that they're not gonna pay more and that the higher income people will not pay a lower percentage.
And I believe if the if what he believes trying to do is to drive the economy in terms of its growth.
With the growth you're gonna get more taxes from everybody and I would be more than just says he would pay big debate it pay more taxes.
As long as we can see this economy stock to produce jobs we're not gonna get.
I would wages for people up and let you get more demand for jobs and I think the only way that's gonna happen to see our economy grow we have had.
The last four years no growth.
And I think got Obama came -- he was gonna get the employment down as he is he talked yesterday it still slightly under 8% but if you look back.
On the last.
Three years since the recession was over in in June of 09.
Twelve -- -- a twelve quarters later we have seven a little less than 7% growth.
If you look at the average of all recession since the Great Depression you have 15%.
Growth -- -- the same twelve months.
Under the Reagan administration he had a big yet.
Economy -- -- in terms of jobs and he had at 18% growth.
So do you believe that we have had such -- big job decline which we did to 10%.
Ten point 2% we -- had even a bigger job growth than we currently as I really believe that this guy Romney who as a businessman.
Who has been successful as a as a businessman himself been successful as a governor.
And -- it was successful in a volunteer rap about that -- at the Olympics this is a man who has been able to demonstrate that he knows how.
To make jobs and how to grow businesses missed it.
You -- -- Alan do you think you did better because these are.
For guys like you very sad it is stuff and -- this stuff and are very adept at explaining this -- It is hard to tell him Americans weighed -- -- went on cutting the riches taxes as a group as an aggregate there's still going to pay.
As much if not slightly more of the overall tax burden.
They scratch their heads say how is that possible and you could -- -- a lot about removing.
Deductions allowances or exemptions but it feeds into the president's narrative does -- not -- his his numbers don't add up how -- he arrived at that.
And a lot of folks confused -- -- say well.
I -- use to what what do you -- Well I think what I'm confused that I don't know what Obama's numbers -- I mean he had numbers when he spotted what he was gonna do none of those numbers -- materialize we haven't cut the we haven't -- the that -- the job.
On that the unemployment -- we haven't got the economy to grow.
I mean again the slowest economy grow so I believe what of the Romney is good at what you believe that he's gonna get.
We when he got to make that change or not you have to believe based on this man's experience he knows how to run a business like -- Yeah recognizes me -- need to debate invariably goes away.
From the record where the numbers are there to follow you can need to like him or not you can buy -- -- or you can look at the aggregate and say it's nothing really the president says it's cracked up to date.
Or you can.
Focus instead are on on the other guys goals.
And whether they add up if -- one side you have clear numbers to debate the other.
You could pick apart whether the goals -- that out but.
I in the very little attention date to the president's record with the -- missiles on the guy running the country.
And and and a lot more on on whether the other candidates numbers add up when we know the record suggests that the president's numbers out candidate.
Well I think that it what what you do have no is that.
Romney has a track record of success so yet when I look at a person's job and I'm gonna hire somebody.
I want to know what's a history of what's is jobs what's this person's success racket.
In the case of but the president he has no work experience he's -- -- work in a job that he had the manage people.
He is not a great managing you can see the way yeah I I would.
-- -- -- the Wieting figure the end of the president at worst is competitive in some polls leading.
Throughout all of this is -- just of the media loves and hates Mitt Romney what what is.
Well I think that a -- has spent the entire slashed to a treaty is talking about.
Everything data by any candidate comes happening that you certainly spent this this year talking about how terrible Romney has.
I think once Romney got out on display two weeks ago people -- than others isn't a big bad wolf this is a Smart guy -- Dissing lady today Alan hurt that no man I'm Lauren these I don't know I don't think I.
I don't think given I heard the lament that one I -- actually heard the Gallup actually went up two points more -- -- -- -- up now six point.
Gallup in terms of the -- the people who will who will -- so I don't believe anything changed because they think what was set in place two weeks ago.
Is this -- can not get the jobs to grow in this country.
You wanna continue in the same pattern we have -- he has as it what are you gonna do definitely -- for so I have to say.
He has failed.
I'm gonna try mr.
Romney who I think has got the express he may not -- as well is that like get the think he can.
But at least I know -- current situation can't work so I have to move to the next situation.
And I believe he will demonstrate based on his experience and my experience in business he will demonstrate to the American public that he's out -- -- them.
And he's out there -- make a difference than they getting a job and I think he's very concerned as I am.
About middle class income grown -- -- dropped 8% in the last four years it.
That I believe that's -- critical to see that middle income customer grow.
In her into my mantra think of I want -- to -- and I -- -- but I mean it's a terrible situation is seeing these poor people in the middle of the Bob art market.
That who do so much for our country that not growing weather and we have to see them grow in the future and I think this is what mr.
Romney wants to see happen.
Talent the greatest -- -- your -- and and it's your great guests of the well -- question.
Very -- see.
