really in the long run. to be clear, you re saying that the federal government would be paying out tax dollars to people who are here illegally. absolutely. under this plan the white house just said a few days ago, if you pay in to social security you pay in to medicare, you get the benefits of the tax system. so they will not really be paying income tax because their level is below the income tax level but they will be eligible for tax credits which are basically checks from the federal government. i think that s a huge factor. and also, remember, that if you come into the country late and you work a number of years and you qualify for medicare or social security, you benefit from those. the rest of your life. most people paying into social security, take out far more than they pay in, particularly lower income people. so it might pop up, show in the short term an increase in social security income. nobody s talking about the draw
since 2007. we re declining below inflation rates. so this is a direct disadvantage and harmful attack really on working americans. how do you rebut what the white house says? they re actually now bringing these immigrants into the taxpayer status saying we re going to get them on the roles, they re out of the shadows. they point to the cbo saying based on the administration, they predict they ll have a net positive impact on the deficit. some of the people will pay taxes. but a huge percentage of them will be in that income level, earned income tax level, or who have children, child tax credit, which are basically checks from the federal government. so their incomes will be so low, they ll pay no income taxes. many millions of americans do today. but they will get a check from the government for earned income tax credit or child tax credit. so it is going to cost money
under bill clinton. id ask my brain room staff to put together a list of new taxes that president obama has either passed or wants to pass. they are staggering. they are taxes that people don t know about. so, yes, you are right on othe income tax level, 36% is less than the 39% plus under president clinton. but the other taxes, property taxes, state taxes, all of the other taxes have zoomed up to a level and now the president wants to raise the social security tax. he wants to raise the capital gains tax. he wants to raise the tax on interest to the level of your income tax. he wants to do more taxation than any other time in the history of this country. no, see. bill: but even if the numbers even if you and i can t agree on the numbers, let s see if we can agree on the philosophy which is really what the debate is all about. okay. bill: the president wants social justice, redistributing
every single element of the food chain, if you will, are going into that. bill: but let s stay with the massive folks who earn 60,000 and down. it s not going to impact them very much on the income tax level having a 9% rate. it s just not. but if you live in a high tax state, like massachusetts, like california, like new york, everything that you buy goes up. now, you can t tell me that s going to help the mcdonalds i m not in the flat tax business. bill: people should know the down side to this. no question. there are down sides, but there are tremendous upsides as well. gary robins, a reagan treasury official, calculated the cain plan would generate $2 trillion in additional gdp. that s jobs. that is changing the direction bill: that s because there would be more cash for consumer, but certain industries like the
every single element of the food chain, if you will, are going into that. bill: but let s stay with the massive folks who earn 60,000 and down. it s not going to impact them very much on the income tax level having a 9% rate. it s just not. but if you live in a high tax state, like massachusetts, like california, like new york, everything that you buy goes up. now, you can t tell me that s going to help the mcdonalds i m not in the flat tax business. bill: people should know the down side to this. no question. there are down sides, but there are tremendous upsides as well. gary robins, a reagan treasury official, calculated the cain plan would generate $2 trillion in additional gdp. that s jobs. that is changing the direction bill: that s because there would be more cash for consumer, but certain industries like the