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FBN’s Stuart Varney sounds off on the congressman’s plan to lower the national debt.
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Congressman Keith Ellison is a Democrat from Minnesota I held a lengthy and contentious interview with him yesterday.
He has introduced a bill to raise a trillion dollars in extra tax revenue he wants to take the money from successful people is might take.
Congressman Ellison is an extremist his bill is an extreme version of president Obama's tax the rich policy.
This is redistribution.
-- very law which.
Bear in mind that taxes on income -- dividend and interest along with Medicare taxes have all gone up as of January -- -- -- Congressman Ellison is floating a whole raft of extra taxes for example.
Tighten estate taxes symbol.
-- deductions for business expenses and tax breaks for all sub chapter S corporations that is millions of small businesses tax belts.
Tax private jets -- any and old deductions like charity -- mortgages for upper income people.
You get a break on a stock option.
It's go wrong.
The list goes on and don't.
He wants a trillion dollars and he wants it now I asked him why is the government's fans share compared to what he said.
Phil Mickelson 63%.
Right is perfectly fact you said if you compare it to a starving child.
That's interesting.
He's comparing apples and oranges -- income with well fat and using a highly charged emotional argument to make his case that is exactly what President Obama has done.
-- -- all suffering so the rich should pay mall.
Unfortunately.
We spent so much time debating feminists that we didn't have time to discuss what effect a trillion dollar tax would have on the economy.
I think it will be devastating for everyone.
I don't think congressman Ellison pass the priority of the left is reshaping society you've got it we wanted a -- taken it.
The -- and bill is highly unlikely to pass -- the fact that it's even been introduced tells us a lot about a mindset.
Of today's Democrats.
