reagan spoke about a one third cut in taxes. is he about one quarter of cutting in spending of the country which is quite amazing. i obviously had to do it and he should have done it right at the beginning because he needs a defining issue. he needs to say why i m running, what s my central idea. this is it but it s coming now six weeks after he gotten whacked left and right on all kinds of other stuff. bill: should he have known how much revenue the feds are going to lose? should he have known that? that s exactly the problem. i was going to get to that second problem here is when reagan proposed his radical tax cut we were not in the debt hole we are now. not 15 trillion in debt. he could kind of what do you do with the issue of lost revenue. i m surprised he didn t have a number to give you. he wants to cut the taxes on dividends on capital gains on income tax. the corporate tax and the estate stacks would be zero. now, that is an astonishing
reagan spoke about a one third cut in taxes. is he about one quarter of cutting in spending of the country which is quite amazing. i obviously had to do it and he should have done it right at the beginning because he needs a defining issue. he needs to say why i m running, what s my central idea. this is it but it s coming now six weeks after he gotten whacked left and right on all kinds of other stuff. bill: should he have known how much revenue the feds are going to lose? should he have known that? that s exactly the problem. i was going to get to that second problem here is when reagan proposed his radical tax cut we were not in the debt hole we are now. not 15 trillion in debt. he could kind of what do you do with the issue of lost revenue. i m surprised he didn t have a number to give you. he wants to cut the taxes on dividends on capital gains on income tax. the corporate tax and the estate stacks would be zero. now, that is an astonishing
reagan spoke about a one third cut in taxes. is he about one quarter of cutting in spending of the country which is quite amazing. i obviously had to do it and he should have done it right at the beginning because he needs a defining issue. he needs to say why i m running, what s my central idea. this is it but it s coming now six weeks after he gotten whacked left and right on all kinds of other stuff. bill: should he have known how much revenue the feds are going to lose? should he have known that? that s exactly the problem. i was going to get to that second problem here is when reagan proposed his radical tax cut we were not in the debt hole we are now. not 15 trillion in debt. he could kind of what do you do with the issue of lost revenue. i m surprised he didn t have a number to give you. he wants to cut the taxes on dividends on capital gains on income tax. the corporate tax and the estate stacks would be zero. now, that is an astonishing
the money and throw it down the debt hole, and what is happening is that there is a huge hole in the company and people are deleveraging and throwing money into the hole and it does not show up in the gdp numbers or hiring or con shum shun, and we have to get through the deleveraging process as fast possible and one way to do that is to have higher levels of inflation which reduces the amount of real debt that people have. it does not take out the dollar amount, but it makes the dollar amount worth less. yes, if there was inflation and i owed $800 and now that $100 i owe is now worth $80, that is 20% of economic activity that can go back into the real economy and back into the hd tv screens and the kitchen remodeling and the tuition for my kid s school. and what rick perry or paul ryan says, you do that and try to go to 3% or 4% we are in zimbabwe and hyperinflation and we can t control it, so why shouldn t we worry about that? well, the reason we haven t,
the center of a lot of political activity for republicans over the last few days. president obama is keeping the spotlight on this day. he s here getting ready to come into iowa from minnesota. it s the second stop of his three-day three-state bus tour in the midwest. talking to voters about jobs, the economy and the debt crisis facing the united states. also on his agenda, a one-on-one interview with me tomorrow. much more on that tomorrow. we re standing by, though, for the president s town hall meeting here in the next hour. we ll have live coverage. right now, though, i m joined ey brianna keeler. i catched the town hall meeting. he s getting more feisty in lashing back at the republicans. that s right. he really stepped up the rhetoric. he s really lambasting the paralyzing political climate in washington and really blaming republicans specifically looking back to the bruising debt ceiling battle. of course as he s facing a lot of criticisms from republicans on jobs, w