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Fmr. American Airlines CEO Bob Crandall argues there is a lack of government regulations and Americans, particularly the wealthy, don’t pay enough i...
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Let's get another dollar would -- -- years -- isn't let's say you're right on this and the reason that you're.
Are smart and I am on these stuff but.
I would say -- -- of years and the American people are getting sick of this and -- saying your playbook that is not -- but the administration spending playbook.
Has it worked throw it out try something different Republicans can and inside.
Get the regulations Austin's is back to the requirements that health -- restrictions all of these other onus is off their back on to taxes down for them.
-- any of those prescriptions Stewart for Robert -- I think dollars prescriptions a dead wrong.
-- the fact of the matter is you know regulations and nothing but the rules of the civilized society.
If anything we have had too little regulation.
What do you think brought about the -- the this dramatic.
Financial problem in the first place.
I mean we used to separate commercial banking and investment banking back in 1999 a bunch -- really smart guys sitting on ocean do that.
You're quite right when -- -- saying -- -- is did we overdo -- on the other side and other words we now we have to add layers of agencies and our consumer protection agency.
Without getting rid of the underlying agencies so we're laying around my airing and -- Well man and about the fact of the matter is we do have we have way too many layers and we have way too much weight too much complexity.
That -- -- the complexity is not the same thing is doing away with regulation.
In fact of the matter is you you don't wanna get E.
Coli because.
The federal government doesn't have a reason losses to properly inspect your food needed to Iraq.
But the fact -- -- there are some things that only government can do government should learn to do them efficiently.
We have not done some.
The fact of the matter is -- you -- are not and a lot of people don't like it we don't pay enough in taxes.
The richest 1% of Americans own one.
Third of all the wealth in the in the so you would immediately out there just -- you would -- our taxes.
Even in a -- I would even in this environment I would absolutely -- go back to the through that tax levels for individual tax.
None of the cloud means.
You can have a great society in Italy you're never gonna have a society that provides -- -- If if all of the money migrates to the people at the top people don't want to hear that but I think it's true.
Even of those at the talk -- and you're saying 35%.
Isn't enough.
For those of the -- I'm -- I'm simply saying yeah look -- if you cut my taxes.
I'm not gonna turn around and invest in my name gonna put at the bank put Bob -- I'm gonna prevent you are different than a lot of other people in that top 1% right.
I don't think so well I pay them back in the -- And I don't know -- 250000.
-- in that up one present.
And those -- tens of millions of dollars and billions of dollars are probably put you wouldn't between -- and that's up 1% very different.
-- -- 20250000.
Dollars a year is not in the top 1% I assure you that.
And that's that's that's and none of that is it really addresses the key issue the key issue is we have to decide what we want government to do.
Then we have to be sure the government does it efficiently.
And if we want government to do certain things we've got to pay enough in taxes to pay for -- Otherwise we get huge deficits an ever larger debts.
That doesn't make any sense you know that I know that.
We should look at the amount of money we spend on defense we have we have people in 53 countries around the world we've spent almost a billion -- in Libya.
We spend money and in Iraq and what cutting down.
And as far as I admit I got out of those hard to -- habits -- -- address the spending.
And then raise taxes of hundreds that would be the Bob Crandall way of at least moving toward getting us out of this mess.
I raised -- raise some taxes right I would bet I would do some investment spending in the short term I would reduce spending in the long term.
On agriculture on defense on other things that we do not need to cut and I would have a comprehensive plan to get it done.
Our -- analysts always a pleasure thank you.
A pleasure -- -- you all right Robert --
