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What they're taught at a minimum tax has brought a lively discussion on the floor of congress teacher they decide to put -- -- -- -- and then pushed back another year.
Well congressman Scott Garrett is introducing a repeal to the AMT and joins us now live from Washington DC Scott thanks for cup listen.
You and I you know what I like -- young but I gotta say.
You're -- you want to have a repeal the AMT when I just heard incoming president say the government wants to spend it.
Huge sums of money to solve all of our problems.
Is there any way -- and he's -- it repealed the government wants more money.
Well the of the government wants more money but on the on the other hand he's not talking about raising taxes right now of course the he just saying we're going to be borrowing the money he has and ideas of spending 2367.
Trillion hundred billion or trillion dollars in a really explains exactly where -- -- get all that money.
Except for the fact -- do -- do think at this as a matter of fact that you may be we do know you know the other day we had the swearing in.
For all the new members and if you saw if you watch that I'm sure you did you saw Nancy Pelosi stand up there -- at the end she invited all the children.
The so maybe that's where rug where all the tag is gonna go where the taxes are gonna goes on all those little kids future bill -- of America -- don't exactly I don't know whether they are given little bill went after they were stood up next and that people -- -- you know the people gonna pay all the bills.
Never yet you know -- places based in the young people you know he says we're -- so you make everything every building will be green and -- -- energy in five or six years anyway.
Get back to the AMT are it is there any chance Scott that your bill's gonna go anywhere.
-- and he's getting it -- and put on committee giant revenue generator for the government.
-- oh it is and you know I'm always the optimist and I was maybe it'd be a little naively optimistic lasted here.
Coming into the session when the Democrats were in charge when they said they were gonna fix the problem that they were actually gonna do one step better than the Republicans that you're right Republicans always did -- one year patch each term.
That we are in session I thought the Democrats would -- us into -- -- -- patch.
We remember what they did they didn't do -- thing.
They've pushed kicked the can -- down the road until the end of the year basically.
Made it even harder for people.
As far as the the patch is concerned if that did it after the IRS sent -- -- there's forms and what -- it.
My guess is the other reality is is probably they're gonna kick the can down the road once again.
And maybe even try to do what some in the house tried to do on the Democrat side of the aisle and that is.
Fix the him deep problem by raising taxes elsewhere in LA they are -- idea solving AMT was that's give me a break here but I'll take it out of -- of the -- Have happened very quickly Scott how do you is -- your congressmen work to restore confidence in American business and -- one thing we heard from the president elect was basically.
Corporate America and Wall Street greed got us here and the government will save us.
Again I try to be optimistic before I knew what its exact speech was going to be I was hoping when he said he is talking about tax cuts in the like that that that would be the hallmark of his remarks but it wasn't at the end of the day he's saying that just as you indicated that the problem was Wall Street and with business and what have you.
We know just the opposite view and I've discussed this that that what got us here was monetary policy -- that was wrong fiscal policy that was wrong.
Pushing the sub prime problems by government initiatives and dictates the like that's what caused the problem.
The solution of course comes just the opposite securing -- solution comes just like -- -- talking previously.
Getting government out of the way.
Opening up the free markets allowing investors who are sitting on the sidelines for so many reasons to get back into the marketplace and that will look that's the way we'll shorten this recession and get the economy grow.
And I mean this congressman gear with the utmost respect as a taxpayer I would rather put my faith in other taxpayers my friends family and neighbors then in the halls of congress.
I agree with it not not even knowing who your neighbors are trust them more than a lot of confidence behind Scott Garrett thank you very much always a pleasure congressman tiger putting out a position.
Two repeal the AMT but so we'll see where that goes I.
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