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The -- is still up in the government's TARP funds shore looking tempting President Obama strongly hinting.
That he -- try to use that done juice up the job market but -- just give the money back the taxpayers and maybe pay down some of that massive debt.
Republican senator Mike but -- of -- couldn't agree more sir welcome to the show I know that you're really.
I'm -- about -- my bombs are about that.
I know that you're really.
This something that you're really passionate about because you didn't even believe in the TARP plan to begin with -- That's -- the administration has followed a policy of bailouts.
Spending ourselves and the prosperity since the outset and it hasn't worked.
Now that they have not spent all of the TARP money the proposal was to take that money and yet once again push it into a new spending program that hasn't even yet been identified.
And try to once more spend ourselves into prosperity.
Well we need to do is to have that -- money -- to the treasury as it was intended to be used to pay down the national debt.
And then we need to use proper tax policy to reduce taxes.
But the small businesses of the of this country and the large businesses start generating economic activity.
That are critical -- are the proper tax policies.
Well right now what we see is a phenomenal assault on business.
You know that the notion of spending ourselves -- the prosperity is bad enough.
But when you increase taxes on any activity you make less of it.
And what -- -- doing is taxing the activity of making jobs we need to start having.
Things like incentive incentives for capital transactions.
We need to start creating opportunities for businesses to be able to expand and explore new entrepreneurial ideas.
But instead we tax those activities and that's the wrong direction.
You know so what we're watching this show right now -- that's 18617.
Million people who is either unemployed underemployed or just plain given up.
-- that TARP money to help them get a job sounds really good.
How did tell that particular person and there's millions of them that that's a really bad idea.
Well first and foremost you have to discuss what is it that generates jobs in an economy.
Is -- the government is the government the creator of jobs.
Or is -- private sector businesses and people who are able to go out and invest capital -- generate activity in the economy.
And it's the latter and the notion that the government is the creator of jobs is what is behind this this policy of spending ourselves into prosperity.
That's what's caused us now to have deficits of over a trillion dollars a year.
Projected over the next ten years driving up our national debt and dragging down the economy what we say to those who want jobs is let us.
Take the shackles off of business take the shackles off of the economy in the private sector.
And stop driving up that national debt and those deficits to a point where -- our economy simply can't sustain it any longer.
Some people say though that.
When President Bush was in office.
What are they mantras of the Republican Party was that deficits didn't matter.
And now all of a sudden the this president's trying to spend money that he has available and it's a big bill.
-- first of all I'm not one who said that I've never said that.
And I don't believe that really was a matter of the Republican Party what the Republican Party or some of them and we're trying to say.
Is that we need to control the deficit and recognize what the proper balance between federal debt.
And the national debt and the economy must be.
I believe that all along many of us have been fighting for the kinds of tax policies that -- help stimulate the economy.
And you know you asked earlier what should those be look at the 2001 and 2003 tax policies that were read were enacted.
The economy rebounded and got strong following that -- tax.
Policies and what were they they were reductions of taxes on individuals as well -- small businesses.
And incentives for the creation of and use of capital in the investment in the economy.
That's the kind of thing that we need to watch happen Allen and instead what we see.
Those very tax policies are threatened to be.
Allowed to expire and we hadn't yet over 1500 billion dollars of new taxes proposed in this health care bill alone that -- Continue to drag on the economy.
That's a great point I do remember 2004200520062007.
US tax receipts went up even though Texas went down thanks a lot really appreciate that I -- thank you very much great points.
And at a critical.
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