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The Peebles Corporation CEO Don Peebles on tax hikes in California and the President’s effort to raise taxes on the rich.
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-- we've got a very well known developer he's a key Obama fund -- joining us.
-- -- that holds on peoples that he should join the Obama team economic team.
Because he makes a much sense an obvious he's -- great success in the business world.
So obviously he can't get within a thousand miles of the White House.
Just joking but good to have you back good to be bet the -- turned -- -- -- They did the president got reelected he got reelected silently and despite your concern about test attacking -- red suit.
-- -- -- that a preponderance of everything else in that notwithstanding.
He was worth it to be -- looked at through our -- always said that the president was running for Chief Executive Officer of the nation.
Commander in chief not chief financial officer okay now split reported a California what's going on it -- they're just taxing everything and tax pools -- -- The deal saying that this.
The administration.
Is open to a deal on taxes or come hell -- high water he is gonna argue look I'd been reelected.
I've said one of my principal points is that taxes should go back up on the rich and he's gonna stick to that.
-- I think that the president when he's one of the smartest people I've ever met.
He's focused and he's committed to moving the country -- a lot of Harrison -- -- very Smart man and look at him he's reelected again to a second term that out by accident that is -- department and over the and I thought -- you know I think he's done a very good job in many here on this tax and on the go but I attack I think on taxes there's going to be some compromise not a book.
Well I think -- How much -- you know he's right it's all of its emphasis I think it'll be higher.
Also think -- focus maybe on something like carried interest and I think it just that -- which would be a big win for the Democrats.
And the Republicans I think agree that that's a very difficult position to defend us I think a couple -- good a lot of things that look extravagant.
Cut back on May be raise it above the may be close some loopholes the -- that the -- was -- an eighty.
And you might have a deal yet avoid declare yes and then I think we're gonna make -- big -- -- -- -- that -- California.
I've -- -- I've owned property in California and I currently own property in Las Vegas.
And when I saw its -- there I'm so happy comedy my properties -- you big property like six cities do you -- yes what's the Biggest Loser.
The Biggest Loser has been Las Vegas real but now it's gonna be among the biggest gainers because.
Now they're taxing people out of the state of California.
Every time there's a big earthquake sure every oh I don't -- -- -- go to Las Vegas because they can be in Las Vegas.
-- they'll pay no state income tax.
-- housing cost would be 80% last and it could be -- -- -- during a -- can be in San Francisco Los Angeles and wow.
Right so I think you'll see people leaving the state of California and.
We're all right well it's it's just because those are ground zero locales for real estate until -- -- Vegas unit earlier rounds of about.
Florida you notice that market pick up a bit so maybe the wind at the president's back could be this recovery you've kept.
-- -- -- The campaign and and you think that's real argue -- look at look at the united portable blood no South Florida and history kind of repeats itself.
South Florida in the early ninety's went down the -- first in their housing market and then bounced back with an international market driven primarily -- Latin America.
Again now South Florida went down the tubes and has bounced back to the point that the inventory.
Is of the new pumpkins units that were built.
-- minutes of peak of the recession there were about 35000.
Unsold units now about a thousand -- development units and 82 new development projects in the Miami Dade area.
Planned or under condone or is it provides Saudi right about that corset that's such a low level come off of that -- of breast.
-- done just a personal kind of question.
Bomb might surprise you that sometimes -- The president won't come on fox I don't I don't know.
You do.
I think.
You Europe a pretty shrewd pragmatic businessmen.
-- -- with the president a couple of key areas why aren't there more guys like you.
In the administration.
That -- -- is that.
By design he keeps really Smart business -- a way and would rather have just a bunch of academics.
No I think to the president wants to have the best and brightest around but I think -- -- there aren't what they -- -- there -- Uighurs and it'd bother well he was also be the president was very sensitive to.
Wall Street.
And those of us in the private sector who were put Wall Street and interest call street -- -- -- -- we -- -- to a cause a part of this recession.
And so it would have been.
You're accountable care account are as he has an -- it should be more than dissidents like councilman friend and all I mean -- but I you know I'm happy with the role.
But I even limited bow like -- -- of -- you know and also I'm not the cuts frankly I'm not the kind of person that could work for anybody else other than people -- there aren't a -- wanted to -- -- you to -- -- -- you know you want and here's my fear that the administration.
They don't have -- open business mind they talk a good game you actually mean what you say and say what you mean.
Here's our -- against this -- and I hope I'm wrong.
He surrounds himself with people say yes we're interested in business but the language that home the vernacular of the approach.
-- is anti business -- you can get.
And it.
Why don't think I think that what you have with the president the president this president likes debate internally.
And they debate internally.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Respects entrepreneur or should also respect other -- looked at me say that again.
The president of the United States respects entrepreneurship know of -- who were successful because I believe the president respects me.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Who -- more of an attitude.
Then a background it's not gonna happen.
Well I don't think this level of progress where we are now on the economy is acceptable to the president so the president -- Make decisions he's willing to make out of the box decision to look at our -- campaigns are bigger -- -- picture much bigger things aren't well I wanna see you and they had to do it.
But I can I can understand why you wouldn't wanted to Don Peebles Obama fund -- very -- they don't lattes are rare bird.
Because both sides respected and liked him because -- straight shooter which means he should stay the hell out of Washington.
Think.
I own a home then you're voted Africa against yellow within -- there -- something your retirement but none of.
