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tv   Stossel  FOX News  April 14, 2013 7:00pm-8:00pm PDT

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[laughter] >> the clock is ti >> the clock is ticking, taxes resume. most americans now pay someone else to do them because the rules are so complex. >> it is something you never want to do yourself. >> i have no idea what's in them and i am signing mine promising this is all true. >> this is bob, he does my taxes. i don't want to pay bob but i have to because i don't understand the rules. i bet you don't know the rules either. tonight are games real or fake? we will test you. >> one state offers a $50 tax credit for losing both arms. is that real or fake? >> we are not sure shows how great it is that the irs spends
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your money to make this film that says without the irs we would be in chaos. >> this is money laundering bribe before -- bribery. >> some want higher taxes. >> we are already taxed to death. (scream) >> that's hoour show tonight. frush >> and now john stossel. >> wendell holmes the former supreme court justice once said taxes are what we pay for a civilized society. liberals like siting that but holmes said that in 1927 when taxes were just 10 percent of gdp. that's enough to pay for a civilized society. but america's government has grown so far, so fast that it is now spending 40 percent of gdp. i think it's much too big, but i
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do want to pay my fair share, so what's that? what is fair? i now give most of my income to the government. poor people pay the smaller percent and lots of people say that is fair. i see their point. but texas congressman lewey gomer says it's not fair and america needs a flat tax. meaning congressmen what? >> it means when people hear the word fair share or fair, it ought to be flat tax. the only way to truly make things fair so if you are making more you pay more. you make less you pay less. make it a flat tax. the word fair ought to bring to mind the flat tax. he talked repeatedly about warren buffets not paying as high a rate as his secretary. make the capitol gains 15. make the income tax 15. we can work out a number.
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but make it flat to make it fair. you hear people say, well i want it fair. they really do, but they cannot tell you what a fair share is. you give them the numbers about the top 1 percent making 13 percent of the money and paying 39 percent of the taxes their eyes gloss over. but if you say would it be fair if everybody paid the same rate acrosses the board? they go, yeah, that sounds fair. americans are ready for it. >> i am skeptical. i think most americans would say baurn bu warren buffet has millions of dollars. he should pay more than i do. >> that is right. he should pay more. >> a higher percentage i mean. >> that would be a progressive. that begins to play in people's jealousy. i don't want to go after millionaires more than any one else. make them pay their fair share. that is a flat tax. i don't think people would mind if you saw that they would not
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have all of the deductions all of the wiggle room they would be in the same exact position as everyone else. >> when you talk about having this flat tax you talk about getting rid of deductions you would keep charity and mortgage interest deductions? everything else gone. >> everything else gone. everything gone. if you were going to design a system that would really allow maximum corruption, maximum lobbying efforts, maximum fundraising in washington, you would create a system just like we have where it is so complex. we have gotten to this point now we have got to fix it. we can't keep going like this. >> the complications come in all of the stupid deductions and exceptions. the graduated tax rate is not that complicated. >> but the way that the wealthy have not been fighting so hard against the progressive rate is. they have all of the loopholes
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and the wealthiest would quit fighting so hard if they were on the same level playing field as everyone else. people would accept that. our leadership has not been willing to push it. i think it's a no brainer. we ought to be pushing it. >> thank you congressman gomer. >> thanks steve forbes and art laffer and all those pushing before me. >> we will hear from art laffer later on in the show. >> what i hate more is the complication. i recent i have to pay bob for the hours he spends doing my tax forms just mine. i have to pay them because there's no way i can do mine in my home. the federal tax code is now 70,000 pages long. 70,000 pages and this is just what the feds do. state and local add more. all of these have some purpose to penalize some behavior and encourage another. but the result is insanity.
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insanity helps the politically connected. people in the know people like me. dumb tax rules once gave me a free golf cart. i got it because charlie rangel conceded a tax credit for electric cars was a ghouled thing. >> encouraging energy efficient products such as plug in hybrid cars. >> it let dealers like this one could authorize free cars. buy one and get a 6,000 dollar tax credit. i got this car totally free. >> free for me. you taxpayers paid for it and i gave it away. that tax credit no longer exists. it is things like that that keep the tax code complicated. this is just the income tax there is all sorts of sneaky taxes that most of you may not even know about. you and i pay them all day long from the moment i wake up and
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turn on a light. i pay more when i brush my teeth and license my dog. my building pays property and fuel taxes and add it moi mony y bill. when i go home from work i pay the transportation mobility tax. at work i make some phone calls. or get a bite to eat or soda to drink. >> i would like a smoked turkey. >> when i gas up my car as much as a quarter of a price of gas is federal, state and city ax si exercise tax. people say tax all day long. >> so many taxes i need a drink. i am lucky i don't smoke. >> this is one reason why economic growth has stalled says the president of the tax foundation. when i think of these rules strangling growth i think of the safety regulations and constant
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environmental spider web not the tax code. we have done okay with our tax code. >> the tax code is a mess and it's because of the 70,000 pages that dictate virtually every aspect of our lives and cost americans about 6 billion hours worth of our time just to comply with. that's the reason six out of 10 of us pay someone else to do our taxes because it's not only complicated we are afraid of making a mistake and getting audited. it created fear as well as xeks city. >> you are s -- complexity. >> you are saying we could use that time more creative might have boosted the economy to do something useful. >> it cost the economy about $200 billion a year just to comply with the 70,000 pages of tax regulation. that's part of the reason why the economy is growing so slowly. >> these are all popular. these are steering people to good things. solar panels on the roof of your
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house. you get a credit if you adopt a child. congress passes these things because people say that's fair. >> they all sound great by themselves but when you put them all together it is what creates this complicated mess and dictates every aspect of our lives. it made the irs a super agency involved in everything from where we put our kids in daycare to where we buy a hybrid vehicle. it's nuts. >> why is it nuts? if you want people to put their kids in daycare to help those people who need that help or to buy hybrid vehicles, how else are you going to steer them there? >> it steers the economy in the wrong direction in many cases. that's one of the yooereasons w the economy is growing so slowly. we are dictating our lives to the tax system not what is economically efficient. that is what others have done streamlining their taxes. >> countries like? >> hong kong.
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there are about 15 countries that have moved toward a flat tax. hong kong has a low rate broad bated no capital gains no death tax, no other sorts of taxes that create all of this economic inefficiency. >> to be clear hong kong doesn't have a flat tax but a simple tax. russia, a bunch of countries have 15 or 20 percent flat tax. >> exactly. >> hong kong went from poor to rich in just a few years. they grew out of poverty because of simple rules. >> sult pell ru simple rules whe made that country really one of the most business friendly economically efficient countries on the globe. the tax foundation says we should have no deduction? >> we should have few deductions. there are things that make sense having a deduction to have savings. capital gains things like that. let's get rid of the other
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politically directed -- >> charity? >> the tax foundation is a charity under the tax code. i would be willing to give that up for a flatter tax. >> okay. a man willing to give up money for a platter tax. >> coming up, did you know the irs used your tax dollars to produce a star trek parity? >> it has resulted in the widespread case of confusion. >> your money at work. >> the secret taxes in obama care and also people who profit from our complex tax code. >> affordable care act has big changes this year when you file your taxes. i read the whole 900 pages. the humble back seat. we believe it can be the most valuable real estate on earth. ♪ that's why we designed our newest subaru from the back seat
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you're o♪ ♪meout leo! some things won't last 25 years. ah! woof. some things will. save up to 20% on an ikea kitchen. >> i understand i have to pay taxes. but i recent the sneaky taxes, the hidden fees, my phone bill and electric bill. now we are about to be hit by new sneaky taxes as part of obama care. maybe you thought obama care is funded by shipping money from rich dug companies a-- drug companies and insurers. you will pay more. there hasn' publicity about this. john meron writes about taxes
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daily. what's hidden in obama care? >> there are 21 tax hikes in obama care separate tax hikes. most of them you won't see. they are hidden in various ways. let's say for example you have a flexible spending account which millions of americans do. that's free money you can use for healthcare. >> also called a health savings account. >> they limit it to $2,500. any one who puts 5,000 dollars into a flexible spending account is going to pay more taxes next year. they won't know why. they will suddenly realize they have a smaller deduction. >> what else? >> you also have limits on what you can use your flexible spending account on. obama care says you can't spend it on over the counter drugs, but you used to be able to. the limit on how much you can put into a flexible spending account raises $24 billion over 10 years.
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the limit on what you can use it for raises another $4 billion. it's not peanuts. you are talking about real money. >> the biggest money 317 billion payroll and investment tax? >> that's supposedly the tax hike on the wealthy that you mentioned. if you make over 250,000 dollars your medicare tax you pay a premium on that, 0.9 percent. it goes up by almost 1 percent. >> obama care includes something called a high medical bill tax? >> right now you can deduct medical expenses if they are over 7 and a half percent of your income. what obama care does is raise that threshold to 10 percent. if you are sick and you have high medical bills, next year you won't be able to deduct nearly as much money as you did and plus 160 billion of mandate penalties. that's the company that says i
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am not going to ensure my people i will just pay the penalty. >> there are individuals. >> a penalty not a tax. >> of course a tax. the penalty tax on individuals they figure will raise about 50 billion over ten years and then you have penalties paid by businesses who don't buy insurance. remember you have to buy insurance or you pay the penalty. >> we have just covered four or five of the twenty-some taxes. it is so complex. h & r block made a commercial to capitalize on the complications of obama care. >> the affordable care act means big changes this year when you file your taxes. i read the whole 900 pages. i will give you a tax and healthcare review. i know the law. i have the solutions. i can help you figure it out. >> something about this big grin. we invited h & r block on the show to talk about the gloating in this ad but they didn't
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respond. i guess they are happy because complexity means more of us have to go pay them. >> this turbo charge is tax complexity. that's why she is smiling. you have to figure out how much subsidy you are due. you have to figure out if you don't buy insurance how much penalty you pay. that's really complicated. if you have an insurance gap of three months or less you don't pay the penalty. if it's 3 months or more you pay the penalty. if you are in one of these exempt you don't have to buy insurance or pay a penalty. it is so complicated the application form is 21 pages long because they need to know how much income you are making and so forth. >> i hate it. i hate all of these complications. most americans have to go to someone if they can't do their taxes on their own they get help with obama care mo-- >> more will have to. >> thank you john merline from
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investment business paper. a new version of star trek paid for by the irs, in other words, by you. you won't believe what they do with your money. >> we received a distress call from the planet notech. according to the leaders they have a goal of anarchy. chaos rules over order.
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john: as i pay my taxes it >> it would be comforting to know the people at the irs collecting them understand the burden taxes impose and they approach their work with humility. then i saw this training video that they paid for to take off on star trek. >> starting 8.23.21. we receive a distress call from the planet no tach. the planet civilzation has
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anarchy. chaos rules over order. >> that's right in their training video they say without the irs civilzation ends and chaos begins. >> it is worth than we thought there is bribery chest pain, cash paid haircuts and manicures running rampant. >> what's wrong with paying cash? the irs is upset that on that planet amateurs help people with their taxes. >> they are all calling in now, captain. >> practicing is our license. we ask one guy for his credentials he showed us his movie ticket stub. >> what movie was it? >> avatar 17 in 4 d. >> back in russia i dream some day i would be rich and famous. >> me, too, that's why i became a public servant.
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>> they would cost your taxpayers 16,000 dollars. why would the irs do this? >> magazine editor has some ideas. >> this is a conference. a video in front of a conference of irs investigators. it's a sort of way to build moral and make them feel good about themselves so they can feel good that they are going through out the galaxy and making sure there's no chaos because there are irs tax collectors scrounging through each and every seat cushion in the universe. >> it is distracts to the universe and i found it ill logical and the acting is horrible. >> there is logic that we need some taxes to pay for the government that we do need? >> there is no logic that somehow if you take the irs out of the american picture that it will devolve into anarchy. >> we didn't have federal income taxes in this country 100 years ago.
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it's a century old this notion. the united states back then in 1900 was the biggest economy in the world. it wasn't chaos it wasn't anarchy it was the world's successful economy before the federal income tax. >> the government got money from tariffs, user fees. >> exactly. >> the last clip confuses me they say oh in this horrible planet amateurs were helping people with their taxes. the irs, the government tried to get a law passed saying you had to have a license to get tax cuts. >> with the help of our good friends at h & r block for which i am a customer spent 4 and a half hours trying to get my taxes done. complexity is everybody's friend except for the actual consumer here. that's why it is great for h & r block and great for certified tax preparers but bad for individuals. >> they joke within the video about how complex the tax code is and how many forms you need and the joke is on us. it is at our expense the fact that it has become such a
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complicated system. why not pair it down to one form so people can file their taxes they don't have to have xroe fegsnal -- professional help. >> if you are going to give all of these breaks you need forms for them. >> that hurts the people. >> that's congress' fault not the irs. >> one more clip from the film that confused me. >> they are exchanging lowest currency for paper bills. that's right. pennies on the dollar. >> this is somehow funny to the irs. what are they talking about? >> i think it's an in joke pennies on on a dollar which they get for people who owe tax dollars. they owe pennies on the dollar instead of full back tax bill which they find uniquely horrible because they are not getting each and every penny after them. >> the irs comes after you you owe $100 you end up celting for
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pennies -- settling for pennies. >> wesley snipe paid with his reputation and freedom. he is wroughting in a spanish priz done. might not be a spanish prison but he was sentenced to 3 years in prison for federal tax invasion. he's not the only one who suffered because of his celebrity. >> the irs is the only tax collecti collecting agency in the entire world that can go around and force foreign banks to collect taxes for american citizens who live abroad. what this caused is the chaos they claim to want to prevent. americans who live anywhere else outside of america can't get a baifs bank account because they are snooping on banks and collecting their money. >> no uncan do that only america. >> only one who wants you to file a tax return is aratria. high five for us. even though we have more enforcement. >> we don't know that wesley
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snipes got a longer sentence because he's celebrity. maybe he did some terrible thing. >> that's my personal opinion. i feel his pain that's all i am saying. because paying taxes, it's forced labor. not paying your taxes and dissolving the irs does not lead to anarchy, i think it's an experiment we should try. >> i look forward to that. thank you kennedy. matt wells. coming up next tax competition. some celebrities say taxes should be hire but you don't see many of them volunteers to pay more. as well as they could because they don't take it with food. switch to citracal maximum plus d. it's the only calcium supplement that can be taken with or without food. my doctor recommends citracal maximum. it's all about absorption. to book this fabulous hotel.ds citracal maximum. michael, tell us why you used priceline express deals well, you can see if the hotel is pet friendly before you book it. and i got a great deal without bidding. and where's your furry friend? oh, i don't have a cat.
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john: >> there are some really rich people in america, and america's deep in debt. so why not just raise taxes on those rich people? some famous rich people say they sure don't need a tax cut. >> eva longoria who works on movie sets does not.
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>> i don't spend so much that i can't afford to pay a little more in taxes. i really don't mind paying more taxes. >> so they say. what's the harm in taxing them and other rich people more? let's ask a tax dodger, art laffer. you moved to tennessee to avoid paying california's income taxes. >> that's correct. i mean it's really phenomenal there's no state income tax, no capital gains tax. there's no estate tax. it's really phenomenal in tennessee and it's a great state. >> you are an affluent guy, it's just the state taxes how much difference does it make? how much money do you rich people need? >> i need a lot. i don't mind paying more in taxes, john. i don't mind it at all to be honest with you. i just minded paying more as a percentage of my income affecting the decisions. i would like to pay more and pay more with a broad rate flat tax. that's not what these guys do.
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they go right at a small base with a high rate that does the most damage they don't get the money. look at california. they have the highest tax rates in the world they are slowing in growth and the re news aren't coming in provision of public service is one of the worst in the country. >> you can save them. your new book entitled eureka how to fix california. >> yes, i can. >> the way to fix it is to leave it? >> if they doesn't fix it they have to leave it. i was on governor schwarzenegger's council and we tried four propositions that were pretty good. we lost. the california teacher's association beat us to a pulp but he switched and became a problem and said i am out of here and moved to tennessee purely and simply because of taxes and state economic policies. look what happened since then? you don't believe it was a good forecast not that i make too many but that one was good.
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>> states like tennessee that don't have a state income tax grow more than other states. >> oh, yeah, we get more revenues, too. we have much less unemployment. >> all of these states that have no state income tax. alaska, florida, nevada, south dakota, texas, washington, wyoming, tennessee, new hampshire, they were all prospering growing better than the tax states? >> not all of them are growing better. there are other policies that also matter. for example two of those states that you mentioned do have an income tax rate. three of those states i believe are not right to work states. there are other factors that are doing very well. california, new york, illinois on the road to greece? >> i think that would be insulting to greece. >> golfer phil mickelson made 16 mill last year who got a lot of grief and said my tax rate is 62
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percent i have to make decisions about what i am going to do. >> i don't know why he took grief for that. it's a very true statement. >> people say sure you will save 8 million but you got millions. you are greedy. how much do you want? >> you can give it to people you choose to give it to. to give it to these people in sacramento is a travesty. that's like feeding rats in your basement. you just shouldn't be doing that, john. you don't want these creatures to breed and multiply. they are the problem. it's like giving money to tobacco companies to sell more cigarettes. it's terrible. >> other celebrities were more open about maybe moving to another state because of taxes. tiger woods from california to florida. >> i moved out of here back in, what, 96, you know, for that reason. >> you are in california, i just want to say, liberals, you could actually lose me. it is outrageous what we are paying. >> that's bill maher who
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generally loves big government. so you think it would start to sink in when even those people say that. >> i have been on his show a number of times. i sent him a copy of my book as well said join me, bill, we would love to have you in tennessee. >> will smith says he supports higher taxes but when he was being interviewed in france and learned about their proposed 75 percent tax rate his resaction was telling. (speaking french) >> 75, that's different. that's different. 75. well, you know, god bless america. (laughter) >> we can laugh about celebrities but let's go back to the basic question of fairness. shared sacrifice as they say. warren buffet and obama this week on his budget he is saying,
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if you are making more than a million bucks you pay at least 30 percent in taxes. it seems reasonable that those of us with more should pay more. >> we should pay more. if you make 10 times as much as i do john i think it's perfectly right that you would pay 10 times as much taxes as i do. that to me seems perfectly obviously fair. when you look at warren buffet what really is unfair is he paid about six 100ths of one percent of taxes. that's not fair. that doesn't even include his not paying capital gains because he owns brookshire hathaway. he's also got an insurance company which we all know has huge tax advantages. warren buffet is the master, the king of tax sir come vengs -- circumstances vengs. to have him tell people to make more is obnoxious. >> because he pays so little he
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should say change these rules. >> but he didn't. i watched every time he talked about it and he never once suggested taxes unrealized capitol gains. he never once suggested limiting the amounts of reductions on gifts to your family 501 c 3. he never once mentioned any of that stuff. for obvious reasons that's what would have gotten him. it's like howard mexonbomb of ohio six months before he died he mover to do florida so he wouldn't have to pay the ohio estate tax. john kerry buying a yacht and harboring it in rhode island. their behavior is not bad. it's their words it's their policies, it's their recommendations and influence on others that is so hypocritical and disgusting. >> who would have thought actors and politicians would be hypocrit hypocrites? >> thank you art laffer.
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>> thank you very much, john. >> coming up what would be a good tax business? a quiz on tax breaks. can you tell what's real and what's fake? hey america, even though she doesn't need them, cheryl burke is cha-cha-ing in depend silhouette briefs
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>> have you filed your taxes? you get all of your deductions? you probably missed a few.
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tax code is complicated. best way to avoid death and taxes, best who employ lobbyists and tax specialists. i don't have a lobbyists but i do have bob to prepare my taxes. thank you, bob, i am glad you are there. i would like to fire you. i don't want to pay you. i assume if i didn't pay him i would miss all kinds of tax breaks. to me the rules are incomprehensible. i bet to you, too. let's test that by playing a game we call real or fake? which tax break is real, which is not? i will compete against two fox and friends hosts gretch el carlson and steve doocy. >> thank you all for playing "real or fake." is there a 10,000 dollar tax deduction for whaling captains? is that real or fake? >> that is in fact real you all got it correct. what a way to start the show.
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>> question number two, is there a $500 tax credit for painting your roof white? is that real or fake? >> where? >> anywhere? >> top of your house? >> steve doocy has just taken the lead. that is real. >> it is run by the energy star program. white reflects light. >> thank you. >> that's why i have a cold place. >> can you deduct up to $500 to make your jet ski more energy efficient. is that real or fake? >> congratulations. you all got that one right. question number four. in one state you can get a 3,000 dollar tax deduction for an exceptional tree. is that real or fake? >> in your yard? >> green gases? >> nobody could make this up. >> exactly. >> the gentlemen have it. >> come on sister.
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>> is there a $500 tax credit for putting a permanent bird sanctuary on your property? >> please, of course. >> i am sorry. you all got that wrong. you cannot put a bird bath in your front yard and get $500 tax credit. >> they really should. >> question number 6, one state offers a $50 tax credit for losing both arms. is that real or fake? >> $50 only? >> tax credit. >> you know what, it's so outrageous. >> finally, krigretchen, yes. >> girl power. >> in oregon you must have lost complete loss of function in two limbs. you can only collect $50 for the year you lose the limbs. >> i would have to pay $50 just to fill out the forms for that. >> that's horrible. that's a horrible law. >> at least they are giving something. >> come on that is a slap in the
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face. >> do you want to disarm that law? >> she will be here all week. try the veal. >> tax credit for that, too. >> question number 7. one state gives you a $50 tax credit for putting up a flagpole in front of your house. is that real or fake? >> the gentlemen have it. that is in fact fake. made that up. >> sounds good because it's patriotic. >> question number 8. is there a tax credit to hire kids that aren't readily employable because they lack basic skills? >> probably. >> that is absolutely real. it's called the work opportunity tax credit. disconnected youth must be between 16 and 25, unemployed with no college and they have to lack basic skills. >> i have had a couple of those at my house. >> question number nine, one state let's you deduct up to
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$200 to foster the classic american sport of foot bag also known az-zahir hakim key sa -- sack? >> that is phony bologna. >> in one state if you live to be 100 years old you don't have to pay real estate taxes. >> is that the state of willard scott? >> very good. >> i think it's going to be fake. >> brought to you by smuckers. steve doocy for the win. >> thank you, kennedy. thank you, steve and gretchen? wouldn't it be nice if taxes were simpler so you could do them yourself and pay less? i could fire bob. when we return, a bitter way to tax. way to tax.@
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osteoporosis, and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking it. with copd, i thought i'd miss our family tradition. now symbicort significantly improves my lung nction, starting within 5 minutes. and that makes a difference in my breathing. today, we're ready for whaver swims our way. ask your doctor aut symbicort. i got my first prescription free. call or cck to learn more. [ male announcer ] if you n't afrd your medication, astrazeneca may be able to help. >> have you read that wonderful book yet? just came out in paper back. no, they can't responds to the conceit that government ks fix everything. it can't and it shouldn't try. government fails. but individuals succeed. but individuals can't succeed when government constantly in your face taking your stuff telling you what you may not do. government does more of that as it grows.
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in recent years it has grown bigger under every president both parties. was there ever a president who didn't grow government? well there were a couple actually. including this guy. calvin coolidge. he's never on the best president lists that i see. he should be says the woman who wrote the book. coolidge actually dopstopped growth, cut spending. >> when coolidge left office, john, in 1929 the federal government was smaller than when he came in in 1923. >> yet the chattering classes the smug know it alls he's not liked. >> politicians haof either part like to grow government and he shrank it. what i found in writing this book is it was fascinating how he said no, no they can't. he said that all of the time, john, whether it was with his -- >> 50 times he vetoed congress.
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much more important to kill bad bills than pass good ones. >> he wrote that to his father who was a lawmaker. give administration a chance to catch up with legislation. too write too many laws. all of these interesting phrases sound so foreign to him now. he's a bit different, right? he believes in austerity. the government would grow. the evidence of his period suggest he was corrupt. >> yet he is blamed for the depression. >> it is kind of a weird history thing. if you don't want to rurt roosevelt you have to hurt the people who came before him. >> hoover came in between and hoover increased spending. >> that's right. i personally blame hoover more. but coolidge was the antithesis of roosevelt, theodore and franklin especially. if you like big government you are going to want to undermine coolidge. >> he took naps every day.
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>> like reagan. >> people want act vitss politics. at the time he was popular. >> that's right. now we say government creates crisis and likes you. coolidge tried to make it uncrisis. decries sis. that was part of his method. he developed the art of boring the country into believing that it didn't need government which is the best. >> lincoln made fun of his naps but said the itch to run things did not afflict him. how refreshing. >> interesting, isn't it? >> the white house under coolidge was pretty modest. he wanted to send a good model so he could get tax cuts. he didn't squander political capitol -- capital. >> he cut tax rates eventually down to 25 percent and more money came in.
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>> that's right. he cut taxes lower than reagan to 25 percent. reagan was 28 percent while he had a balanced budget. that is kind of interesting. on top of that he got more revenue. this was a supply side it works. it is scientific taxation. his treasury secretary said if you charge less maybe more trains will come. principal from business. make it up on the volume. the traffic of congress. the government got extra money. in addition the rich paid more taxes with lower rates. >> when there was a disaster, with the mississippi river flood, he didn't rush there to say oh, we are going to help you and government solves it. >> that's right. it was typical for a president to say no because a president wants to be loved. that's whier politicians and
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they want to be -- why they are politicians and want to be loved. it's history repeats itself all of the time, right? he knew he wouldn't be able to veto that spending if he went down to the disaster. it would just overwhelm him politically. history played a rude trick on him a tragic trick. his own state was then flooded very soon after. he couldn't go to be fair. ep didn't, he didn't go home. >> he did not intend to surrender to every emotional moment. that's all politicians do today. >> it was interesting. that's extremely popular. voters like cool coolidge a lot. >> if only we could have more of that. >> thank you amity. they acted the way i wish our political leaders would act. humble. that allowed prosperit

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