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Rep. Louie Gohmert, (R-Texas), explains why he thinks a flat tax would be a solution to the fiscal cliff.
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I thank you Richard had sent our next guest says yes the perfect solution to end America's financial lows joining us now Republican congressman -- golf cart.
-- one of those critical the house speaker congressman -- thank you for being with us what just cut the engineers and tell us -- your fix -- Well when you think.
Fair share as the president is administration says think flat tax and in fact the president talked about -- Warren Buffett should pay what is secretary.
My Asian Webber -- but he is not proposed a single idea that -- what might that -- we have the perfect idea.
You wanted to -- the same right I want him to pay the same right the difference is I've got a way to do it.
You put a flat tax you put up 15% flat tax on income tax on capital gains on give tax don't mistake that you put it across the board.
And then you'll see everybody -- the same right if you might more you tighten more to give Mike lets you play last.
That's where we ought to go in -- and as speaker and others keep talking about.
How we're going after the rich why I'm never gonna be there I don't care about defending the rich -- wanted to send a system that lets everybody have that chance.
And -- -- jagged England tried this in 2009.
They they put them.
Have to -- big income tax on people making more than a million pounds a year.
The next year they went from 161000 people making more than million pounds to 6000 people and you'll lose money you don't get on revenue and then what happens in middle class.
The middle class and then asked to suck up even more tax because you were so stupid in your tax policy.
You actually thought you gonna tax rich people they can move of middle class can't move there wedded to their job flat tax across the board.
I like to deductions Arthur Laffer not talked about.
You know you have -- a deduction for one home mortgage interest deduction and for charitable deductions okay.
Our party is put charitable deduction restrictions on the table when -- tell you.
That will kill charities which plays right into this administration.
They want the government to be the only charity in America.
When actually the real truth charities do better job and get help people that needed -- -- -- -- -- -- basically train.
Excuse because of that one -- -- -- filibuster and answers are but just tell me.
I haven't heard the flat tax come -- at all is this something that we could even begin to address until next year or is -- something -- should be introduced right now and trying to fix this mess.
Well it's what I'm trying to do right now Steve Forbes -- on the hill yesterday talking with -- -- -- pick grandpa always talked about flat tax.
Half the people apparently Ellen talked about a flat tax okay and what what I say it is a big problem.
And -- easy solution so if you don't bring up the solution has no chance.
If people across America starts saying let's have fairness let's have a flat tax so -- buffet everybody plays the same right I think we got a shot at getting something done.
Yes there will man can dream that's for sure but in truth -- -- -- -- love a flat tax isn't it true that ultimately a flat tax does amount to a tax cut.
On the rich because the average American -- 30000 dollars income pay the tax rate around 7% better late -- com.
And the average -- learned over a million dollars in the US pays -- tax rate of around point 5%.
Other income and so if you cut flat tax to 15% of you say you just gave a tax cut to the rich.
Well actually not when you eliminate all the deductions -- charitable and more in home mortgage interest because you look at people like Mitt Romney and others that -- 39%.
Look at Warren Buffett he doesn't make 39% in -- that -- percent.
For capital gains tax -- there's no reason everybody in America.
Shouldn't be able to play the same right that the rich like Warren Buffett do and -- why shouldn't the rich figured out how to game the system.
Like -- -- from -- for income and not.
Regular income -- -- faculty and AFLAC well even in all -- that okay.
Thank you clinical its own -- Hugh -- yeah particularly.
Congressman named -- is okay by police are happy -- president -- -- -- to -- Well.
