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felon government studies at the heritage foundation former congressman from
oklahoma spitz district heritage dot org course the uh... the heritage foundation
site annes took dot com is your website distinguished fellow
uh...
working on the jolly develop
that's the goal
okay
also twitter at ernest underscore istook and uh... at heritage of course
of written that ronnie yesterday without a job supply and in his speech i've
watched the speech that that a transcript of it here
and it seemed to me like he was basically saying he was going to do the
exact same thing the george w_ bush did
uh... drop taxes cut regulations
and how did that creating jobs i want that i'm missing something here
well if you go back to the uh... lawrence things like capital gains tax
rates during the bush administration most definitely did
uh... create jobs in ny
well you know i i recommend people if you well
want to see something fascinating find this piece of john f_ kennedy made as
president but he was sponsoring lowering of tax rates and extolled the philosophy
of how that does indeed help the economy
uh... yes i i know that some people want to have a mythology saying that all
lowering taxes is not stimulate the economy old but i can tell you i do not
subscribe to that myth
sewed during the people have incentives
to do more they produce more
so during the period from
uh... that from the nineteen thirties until the nineteen eighties early
eighties when the top tax rates were
seventy seventy four ninety one percent
people were not keeping their money in their businesses
they were not starting businesses they were not growing i mean i was the time
but that was the though those three decades were the only time we ever had
consistent decade a decade g_d_p_ growth over and over three percent that was
when we are subject re like the tax code was filled with loopholes so that though
it was a fiction
of the notion that most people were paying that weight because we're still
with someone loopholes with giving people waivers to uh... what you think
that
and it's better to have fewer loopholes and lower tax rates of because
you know some people
talk only in terms of uh...
they eat quake tax increases with where the new increases
and that doesn't necessarily follow their novice sure you're you're
absolutely right in fact i a sacred smaller percent
of the padi you can make a bigger pot n since you mentioned john john kennedy
and and his his position on this
uh... i think you know he
he in fact he ended this with a plea of i want to be on the record for this
uh... he starts out this is it this is the speech that you're talking about and
and it suits for mixing kennedy debates and he says that national broadcasting a
as president not during the debate ok well in a their recession the same thing
you did this is they they the same thing and he said he wants to make ticket tax
changes
they would actually generate
more revenue not through some kind of supply-side magic but by closing
loopholes and that he would use the but dad that extra money
to spend it here's here's what he had to say this isn't jack kennedy
field
debate stated gap but i believe in a balanced budget autocrat contractor in
my fourteen years in the car
kilometer time went in and out pocket
would be doing seriously sick we had acted native and dont forget probative
contact working where they should be locked expenditure national pet
in world war two
victory agreeable
okay so then he says he wants his tax changes which is really where we should
serve the split up and i'm talking about speech that he gave you know there were
a let me let me i'm glad that spread out and that was that was the southside
arraylist were released
as shouldn't have wasted your time with that part of it but here's that yours
where he continues if i may this is just a few words are going to happen
no
which i believe the closure
get a democratic unexpected
and then he talks about how he's going to use the hijacked
cation
return home unempowered
more money and i hope you had a large on behalf of ministration dot
i believe it next administration worker allan park and out behind catch
connection by for the cops
it cross is right
practical matter is here's where i can
and i just want to have upon the public record and people are still no stating
that when did he actually didn't live to see that happening was nixon who did as
you never do l_b_j_ division at sixty four
uh... i i don't have it with me and i don't have the ability to play it for
you but i'm talking about the speech he gave as president november of nineteen
sixty one
where he called for boosting the economy explicitly
by lowering the tax rates and how that would help more people be employed
because they would be more incentives for businesses to while money back into
their business is broken and the money over the alkyl sam
but it's it's very interesting i there was
and back in the seventies i was running a business
uh... in michigan and we were doing very well
thank you very much
and that i i hit a pia and and and you with the roof of the ways i've had
several over the years and
and well i had a point where my cpa sat down with me said
you know your tax rate right now your income tax raise run over forty percent
um... you really
will probably in the long run make more money is inserted in the sun is paying
you keep it in the business 'cause violent
the for fifty percent of starting the company
so if you keep it in the business
and you know
putting the advertising marketing grow the business and we did we we went from
fifth at ten forty employees eighteen employees in grew the business
and and have the taxes been lowered i would have taken their money out and but
but the stock market or put in the swiss bank account i don't see why
taxes any ill from around personal experience when tax rates were high i
get money my business and when tax rates were low
you know i sold a business 'cause the tax return for a capital gains rate for
dropping
i mean i don't see how that helps health helps economy i don't get well the
attitude to say that higher rates to encourage businesses
of two hire more people who are over the you know i i understand your sample
there
but right now one businessmen and small businessmen particular
are told that of the more you learn a few power back in business in a down
economy don't necessarily reaped the benefit now
i realize that you could lift a lot of things that you gave people some
some proper signals where you change the entire attitude of people toward this
but when president obama is consistently defending higher regulations with the
exception of the announced but he made last friday when he's consistently
defending those twenties consistently saying well if i can't raise taxes now i
will plan on raising them in january of two thousand thirteen window you know
you have all these different sledge hammers one after the other coming out
of the federal government you look at the passage of old bomb a care and the
huge
uncertainty that it created all the businesses that say that is creating
there's so much uncertainty that i don't feel but i can expand as well as the
additional cough every businessman dates that are out there on it howard fineman
last weekend was saying the biggest mistake that obama made was pushing
through obama care that's howard fineman for goodness sakes every business that
i've ever started was based on total uncertainty i don't know any onto pair
who hasn't when you go into business it is uncertain
uncertainty is what the u_s_ diesel want what watching what people want our
customers
they want people to have money in their pockets to buy their goods
and and again
but as it is the folks that are running the show in washington of the president
in particular it's not just uncertainty i mean i realize there's a risk factor
in business you're exactly right about that tom but this type of uncertainty is
somebody standing behind you with a sledgehammer
tell you they are going to apply it to but again i uh... black and how
justanswer talking about like when bill clinton raised income tax rates by three
percent
believe the president go bombing is not only talk about tax breaks we've had
uh... within his tenure already knew that fourteen billion dollars a year in
regulatory increases with seventy five major regulations that and i would argue
that are actually symbol first of seven
you know anything about regulation ok were were out on all three here we are
living in the last word ernest istook
the heritage centre thank you sir
thanks so much com
pataki
this is the comma hartman