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at what point
do you think
that it's reasonable to say okay you've
made are not
we're gonna start
taxiing your additional income at a rate that is almost conf
this chetori
i realized six in a conservative heads are exploding all over america
this is what we have done during the most successful
economically successful times in this country
we had a touch tax-free atop tax rate of ninety one percent
from the mid thirties
until
what sixty four point i dropped a seventy-four percent i'd say seventy
four percent us confiscatory
as in confiscating as and taking most of it
and that it was a seventy-four percent it'd be a reagan drafted out of fifty
percent and eighty to worry d three any dropped about twenty eight percent
nineteen eighty
five three six
ever since then we've had these bottles and and and uh... and bursts
what right does gold ball as bursting now
fective if i owned a gold i think i'd probably be selling at right now
and by so doing
okay should be cylinder
but the
the the net net of this
is that when and i think that this is the says to do with how these markets
are being manipulated
frankly by
international
central bankers
the bottom line is we wet what point
does
at what point
should we be saying okay
you know your taxes are now over fifty percent
personally i think two or three million dollars a year
is a reasonable level
and
end uh... and reside by band-aid and not pulling those numbers are the air
that's
roughly in today's dollars you know if you were to go back to nineteen thirty
dollars and i think was a hundred and fifty yr three hundred thousand
something like that where that top tax rate of ninety one percent kicked and
and that would be about three million dollars in today's dollars
and it worked well
it prevented us
from having bubbles and bursts today is to expect a concert is a running around
saying
if we lower taxes
now again out of the thirty-four wealthiest nations in the world
uh... there are only two of them to other nations that have
lower tax that we're talking
personal taxes
lower personal tax collection rates than we do
cairo a countries they were i think one of slovenia
the premature body else's taxes are above ours
illnesses were alerted by hard to do is just fascinating research that when the
tax rate on
on income over a couple million dollars a year
starts going above fifty percent
at that point people
at that point at connie's don't experience bubbles and bursts
they don't you know they don't inflate an exploding fleet explode
why it because people are careful with their money
and they keep their money in their businesses
and now we've got the situation where not only
our people making absurd
concedes salaries
but we have changed in fact during the reagan years we changed
the way that executives can be compensated so that they can be counted
as stock
yes and i have a c_e_o_ makes two million dollar salary which doesn't
sound like all that much for a c_e_o_ but makes sixty million a hundred
million three hundred million five hundred million a billion dollars
stock
or if they work on wall street the court carried interest
which as to a fax one it's again uh... absurdly low high level of income
and two
to compare maximum twenty percent income tax free
and snow
payroll taxes
so it's like the ultima tax scam
it's like a very very wealthy in this country have all these ways to avoid
paying taxes
and the average were sick working person doesn't
and then you people are there i mean i a forty seven percent of people don't pay
taxes well
that's
uh... that forty seven percent oppenheimer personae forty-some percent
it was all scary elderly people
right do the job
uh... a lot of kids although i'm gonna so many means forty seven percent of
people who are working
disabled people
memo sleep
people who are and so little money that
you know to tax them would be like adding insult to injury
shouldn't we be instead
saying let's create an economy that works for everybody
let's raise the minimum wage
you know democrats in michigan i propose now raising the minimum wage to ten
dollars an hour it's at seven dollars and
something seven twenty five and it is the federal i think that that's that
state minimum wage initiative
and of course beverage snyder in the republican sister michigan from a
from uh... you know a decent that that the kind of state i'd grew up in
michigan you know 'cause they were my debt work into a one dash out good
couldn't that i have a decent life on his home at the end of the his life have
a pension
had to have occasion for your call this kind of cool stuff
they just turned that into a right to work for less state
so wrecks that is the process of impoverishing michigan
and the democrats michigan asap and i must add to that what's what's clean
this thing up
really i think what were seen as the srs battlefield since these two sides
america as a
socialization as it were
the ritz
should we have a social safety
for america with no social safety net
grand hall you're on your own