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Former White House Chief of Staff Andy Card on the need for tax and entitlement reform.
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Dan thank you so -- your time next George W.
Bush was a very last.
Federal tax rates but the appetite for tax cuts seems to be lost to former bush chief of staff Andy card on whether he'll for -- -- As the less president to cut tax rates -- Kelly any do you agree with that it met George W -- the last president to cut tax rates.
I hope not because George W.
Bush inherited a recession when he became president.
In he had the courage and the foresight to say I want to cut everybody's taxes.
Everybody's taxes and he negotiated with a democratic controlled senate.
And kind of obstruct -- house to be able to get those tax cuts and the reality it's a good thing he did because.
He made sure that recession was very shallow it didn't last long.
And we were going into great growth.
And then we had the attack of 9/11.
And President Bush had put more tax cuts in place to make sure that the shock to our economy of 9/11 didn't jeopardize -- ability to.
Create jobs and opportunities for Americans at home so.
Tax rates coming down we're very important and people should understand that the entrepreneurial spirit of America.
Needs to have.
A predictable tax policy and rates that do not -- growth and right now we have tax rate discussions that talk about.
Burdening the opportunity for growth in our economy and that's not good.
Yeah mister -- -- frequent and also you know the tax that is one big fishing tackle pilots really hard to understand it -- pretty average hardworking American get.
To get understanding what congress is doing to the -- but.
I wanna ask this question basically president George H.
W.
Bush really got vilified of course -- raising taxes to fight that -- as before despite the fact that he.
Kicked Iraq at a cool waiting on his watch the Berlin Wall fell the Soviet Union collapsed.
But that the same time this president to -- that we have campaign in 2008 saying you know what.
I don't not raise taxes on the middle class family making less than two -- doesn't not a -- a raise capital gains taxes.
How do we -- this and day -- -- -- that this -- president Barack Obama does not get criticized for breaking a pledge.
People should look at back at what the first President Bush did when he did raise taxes -- you did violate his read my lips no new taxes pledge.
And it probably cost him reelection but he did the right thing but he got something for giving on the tax increase side he got discipline into the federal government.
And he'd -- discipline not just on congress.
He drove it down deep inside of congress and that discipline allowed the economic growth for our country that existed.
What happened during Bill Clinton's tenure.
To be a reality so.
What -- the first President Bush did was courageous it was the right thing and he drove fiscal discipline into a body that doesn't know how to practice -- that was the US congress.
Why isn't president Barack Obama criticized her breaking his no taxes pledge that and in 2008.
He should be criticized part it was that it was he what he should do was -- hasn't really led to on anything.
He should be leading congress to make.
Policy changes -- -- taxes.
But also around entitlement reform because he's got to reform government and we have to reform my tax called.
But I think the reforming government is even more important than reforming our tax code right now we've got to get entitlement growth under control we've got to.
Relax regulations rather impose new ones and right now we have the overhang of the regulatory burden.
Stifling.
Creativity and growth in our economy so we've got an over regulated economy that is suffering through -- likelihood that tax rates are gonna go up even more.
And all of that is that bad formula for growth when it comes to what should be happening.
In -- on gubernatorial.
Rounded capital system that.
Really should be -- creating jobs -- -- The current -- a make a good point here in it and listen I think -- Americans know that if we want this big entitlement state.
If we want the entitlement machine gun running full -- in Washington DC got to pay for some value to cut entitlements or you raise.
Middle class taxes so here's a question I know that -- said essentially president.
Has been leading from behind on virtually everything except raising tax rates up -- my question is.
I don't understand -- -- consciousness of the American voter out there when they vote for people into office -- raise taxes I mean taxes.
To my mind tax hikes are austerity just says spending cuts or austerity I'm not sure why that perspective is not out there.
Up with the American people what do you make about.
Well.
I think we have people that it.
Are not looking at how the greater economy affects now.
You know free trade is good for America it's good for working Americans -- yet we tend to be more protectionist as we talk about our economy not growing.
Rather than expansive.
We talked don't talk about being competitive with the rest of the world in taxes.
Our tax rates are approaching the highest tax rates in the world.
And we've got to be competitive with the world we -- of lower tax rates so this is about creating opportunities for growth rather than.
Building walls and burdening other is thinking that you're not gonna carry the burden.
If you build the wall to deny someone did.
Exercise.
A creative idea an economy that will add jobs and create opportunities but you're saying I want that wall -- be so high you can't get over.
You're denying an -- -- to grow and right now we are.
Probably in a position where the United States is struggling to grow because we're overly protecting us from failure.
Failure was all right in an economy but we want to -- regulatory.
Regimes that.
Invite creativity and solutions of on -- -- was coming in with new ideas he would not tax policy to encourage that -- we won't cut tax volatility to encourage success.
Rather than punish it in right now some of the tax rate discussions are punishing success.
Danny is they're saying essentially we should be able to stomach failure mean it's my -- take -- the net and tennis.
Four months of for public you know we we gotta -- it -- systemic failure in this economy and I think you're actually right about that mr.
-- -- always so good to be with you thank you so much for your time sir.
Pleasure thank you -- a big.
