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We should restore -- sense of fairness and balance to our tax -- Including by shutting down corporate loopholes in ensuring that everyone pays what -- -- Right -- bombing yesterday on how he wants to fix our tax code with a look at if any of the changes will actually work on this tax day.
We take a trip to weight of the world look -- -- Of -- we have Wayne -- the president of the investment management firm.
Wayne Rogers and company and Wayne Allen with the 2008 libertarian vice presidential nominee and author of conscience of a libertarian and at Randolph.
I hope it's pesky and say this correctly the chair of the department of accounting.
At believe it or not I -- is -- queens state university.
I never gonna love this one down gentlemen it is so -- good thing you my goodness the Wayne Allyn root let me start with you -- You got a thing I like say about the tax -- Harry Indio and what do you want to change.
What -- what a change I mean you know Obama loves to talk about fairness he loves to talk about greed he loves to talk about selfishness.
Last I checked it is -- and isn't selfish to want to keep more of your road muddy.
I think everybody's forgotten it's not the government's money in the first place it belongs to me and you Alexis and you can't -- or motivate someone.
To make more money and pay more taxes if you raise their rates all you do is discourage -- that's -- discourage risk.
Discourage people from saving an opening their own business it's a disaster for the country and I see nothing good that can come of Obama's tax increases mr.
What do you think.
I think he's got -- to say they I think that's right you know part of the problem you when you think about it that in the budget for example.
There is so much of the budget that is that is and entitlements.
So there's not a lot of discretionary way for people to spend money so we are going I mean I'm tired but the congressman if you gonna raise taxes to meet certain of these obligations.
Another thing you -- -- -- earmarks that what if Obama you know.
He one irrelevant to the candidates is that we're not -- we've -- -- do away with the earmarks he there -- over eight.
-- in earmarks in this in this bill.
So there are things that are in that they're gonna impact the tax code you've got to go out as people as you rightfully say.
To take away your money to pay for these things in by the way why should we pay for the bailout why should -- -- tax dollars go to bail out Citigroup.
I don't get it.
Well I -- it but it's interesting reading because of what can we keep hearing about it how our tax dollars are gonna be used to.
Either invest in financial institutions in auto maker is you name -- we're invest in handing out to be insurance companies.
But yet I were participating on the upside.
-- -- -- Well we will presumably be -- on this and get paid back.
That revenue does got to the government and hopefully will allow us not to raise taxes as much as we have to to cover the current deficit we have.
Thing you can learn about it right now actually earn money.
And they do well that that -- deep -- our tax -- even though we're talking about record federal budgets.
If they are radically it will help because we'll get a return on investment like everybody else -- -- in -- company -- I media companies survive and do better we should get a return all all all do -- don't believe they're gonna survive it is better we shouldn't give them the money I would agree with that.
All of irrespective do you know the case other than Chrysler witnesses worked.
We have never had a that's that's as big Victoria there what it's not a question -- -- it's a question of intent -- a little bailouts it doesn't matter whether I'm in the government could spend your money fiesta with little winds and again with a big one almost.
Axis and -- we should we -- -- they don't affect the economy the way these statements are yours you're saying it's okay because of size.
Just because they're big and tabloids too big to fail works but the little guy -- so it's not about fairness it's about how big you are is that right.
I'm looking at the effect it has on the entire economy I would not justified -- I think in the free world.
Companies who don't manage their own affairs to fail but unfortunately we're in a situation now I'm not sure the economy can afford to let it happen I don't agree with that -- -- -- Allen weren't going to -- Alexis.
Why did you say I don't think the biggest problem is the -- I agree of course -- Rogers brilliant analogy could not look small businessman.
And no -- bailing me out and we create 75% of the new jobs in the United States who's helping us.
But I think the big problem is being missed by everyone the big problem is the bailouts it isn't the waste of money on the war in Iraq the big problem is governments.
If you look throughout this country we're spending more money -- government employees than anything else we're giving them forty to 60% higher salaries.
And pensions and health care benefits that anybody in the private sector.
We have gigantic trillion dollar unfunded liabilities and Obama's reason.
For needing more taxes is because he's -- -- Millions of new government employees who -- -- -- dropped the budget of this country we're gonna be in defaults it.
You can get paid for all the bloated salaries and pensions.
Of all the new government employees that Obama's hiring with all the stimulus money it's a disaster --
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