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Judge Andrew Napolitano on the economic mistake that the government makes if it raises tax levels too much.
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Flock is live promote Fallon Lazare -- and that the effects it is having Jeff.
Putting the face on it this is a defense contractor next stop Afghanistan for these part of blast mats that protect.
Military serviceman you had to contracts David -- -- -- owner of US last match one from Navistar one from a the Marine Corps what happened.
Both of -- -- -- -- were canceled.
Believable students sequestration.
Just new money for critical safety items for the troops.
Put put up the Navistar board yeah obviously not doing too well today none of the defense contractors doing well today.
You're small guy.
Those big defence contractors -- more diversified.
You're not.
No this was our main product line.
Take a look around here actually if you would do this place was packed with people you had multiple lines running all kinds of new stuff.
It's now down to one lining you're about to shut down yes we will be closing down Wednesday.
Take a look at the other defense contractors specifically.
If you look at those ETFs the -- ETA ETF that's the Dow Jones aerospace defense.
Index and the power shares as well they're down.
Not good for any defense contractors but those are big companies maybe they can withstand its smaller companies like this one some of the employees by the way here.
Marines as well as well as David -- are also a marine himself.
But they're going to be shut down as a result of sequestration.
By the end of the week.
-- for the faithful and all right Jeff Flock in Missouri Jeff thank you very much.
Sir.
All right well a new report finds tax bills for America's richest families are the highest -- -- in thirty years.
But -- arrest of America paying tax rates close to historical lows.
This according to the Tax Policy Center in -- underway on this of course Fox News senior judicial analyst.
-- engine of Montana judge I know he will -- on their tax returns and they -- screaming.
Bloody murder -- they've never been so high.
Well the government makes a with an economic mistake when it raises taxes just a little bit too high.
Because people that are able to control there might come -- to ferret or receive the income in in other ways and -- earning less.
And paying the government less and -- other governments tax revenues down.
But the economic activity generated by that wealth is down because this is there's less of the wealth so that the government sometimes.
Axis of its motivated by social interest not economic interest and desire to take from the rich and give to the poor.
Rather than a desire to add to the government's coffers in -- financially prudent way so that has JFK's to say are rising tide.
Lifts all ships of the present government does not seem that it took -- except to the JFK at logic and it would and then.
Vice President Biden says this all the time.
Rather take from the rich to give to the -- because they have enough money anyway they just don't understand the sort of basic.
Economics 101.
Clearly matter and I -- -- one level I don't know that's -- right.
Right exactly now.
What about tomorrow argument.
Yes you know I -- of that that as an argument that -- fall on deaf ears except to a small group of libertarians today.
That unless a financial transaction -- voluntary if Tim morrow.
The government just to take money from an integrated total fat and not give a person anything greater in return for that additional money that it talk is that -- -- who has a higher right.
To private property the tax Payer or the tax collector one looks at what's my property and I let the government tax it it will realize that government get first.
-- -- expects a much of the federal government currently.
We expect more from the federal government than -- founders streamed.
Far more from the federal government and the government can afford infinitely more from the federal government on the constitution authorizes.
But when the government does things it drives others out of out of the markets government's own hospitals government owns roads.
He drives out of the marketplace people who could do these things far more efficiently and less costly than governor.
That's hold got around my coming schools are hoping that -- to -- point the wealthy control their money they -- negated overseas they do whatever they gotta do.
Right the lower income thanks to the earned income tax credit barely pay anything so it's the new class that shoulders the burden of -- Well and you have the need that I know this the third rail what I want to address and anyway the increasingly larger and larger percentage of people in America.
Who receive either a salary or eight portion -- assistance from the government they have.
A natural and -- interest.
In big government in keeping in the government people who promise them the bigger piece of the pie what happens when there's no -- to cut out.
It can be hungry and -- -- -- thanks so is giving any thanks Santana and hot Hannah all right.
