Thats a drop of 20 in only five years, and its no coincidence those are the same five years and the only five years in the history of america that we have dropped on the listing of the countries of the most Economic Freedom. The worlds Economic Freedom index never has america dropped five years in a row at the same time the middleclass has been slotted. 70 of working age americans no longer working are under the age of 55. What kind of jobs have been lost . 60 of the jobs lost during this recession or middleclass jobs but only 22 of the new jobs are middleclass jobs with two wages. A number of working age americans without a job has increased by 10 million in the first five years of the obama presidency. I know obama is not a magician like David Copperfield in las vegas thats a pretty cool trick. 2 Million People lost every year of his presidency. Americas second largest employer is a temporary agency, kelly services. 40 of American Workers now earn less than the minimum wage in the year 1968 adjusted for inflation. Nearly half of all americans have less than 500 in savings. The net worth of the average American Family is now is down 40 since 2008. More than half of americans with 401 k s are accumulating debt faster than theyre putting away money for retirement. The number of lower wage workers with a four Year College Degree doubled between 19792011. 53 of all College Graduates in america under the age of 25 are either unemployed or underemployed. 15 of the American Population is now on food stamps. The number of americans getting food stamps is bigger than the population of the northeast United States, including new york city, boston and philadelphia. The food stamp world in america are larger than the population of spain. The number of americans living in poverty, larger than the population of syria times too. The number of americans on disability bigger than the population of greece. And for anyone who might think, well, maybe these numbers existed a few years ago. In 1965, one out of every 50 americans was on medicaid. Today, one out of every six americans is on medicaid. The system is unsustainable. That debt is unsustainable. The regulations are unsustainable. But taxes are unsustainable. And most importantly, the irs is unsustainable. Its got to go. We have a disaster on our hands up at the proportions. Im unconvinced, as ziad said, this is not a republican or democratic event. Im an equal opportunity offender. Im not convinced the republican president would have a chance to turn it around or save it. But i think they could if theyre willing to go radical, if theyre willing to think out of the box, if theyre willing to do something revolutionary. Let me give you a few of my ideas. They are, in fact, revolutionary but they will work. Ima commonsense, son of the butcher businessmen. First of all i mentioned reagan took the worst economy in our history since 1929 and turned it around in only two years and created 20 million jobs and did it with a crazy idea, cutting taxes and have in the middle of a depression. Same idea by the way that worked in canada in the 1990s. They cut both taxes and spending radically in the middle of a major recession and turned it into a boom economy that has lasted 15 years. How did they cut spending . An idea i would do tomorrow. They fired 25 of all Government Employees. Right off the bat, goodbye, 25 of Government Employees. I know you want to clap. You are afraid to clap. Go ahead and clap. Come on. Ill start with the irs. I moved to the department of education of finish up with every employee at the industry. Time to stop snooping on americans. Heres my idea. A National Income tax vacation. Our economy is so that is like a guy with a heart attack he was already dead and the only way to bring back to life is with a defibrillator, a shock to the system. The way i would save america, capitalism, jobs, the economy and the middleclass is with the national one year income tax vacation which means that next year no one in this country pays a dollar in taxes on the money they earn. You still pay payroll taxes and businesses would still pay business taxes. Of course, you would still buy things in large numbers. People would go out and buy and create a fantastic economy and they would pay sales taxes and they would pay property taxes. But for one year they get to keep everything they make. What would they do with it . The same thing they did when reagan cut taxes from 70 to 18 . Start businesses, build businesses, expand, businesses and create 20 million jobs. Folks, the only thing anyone can say to me thats negative about this idea, where would we get the money from if no one pays taxes anymore . Its funny. When wall street got in trouble, when aig got in trouble, when the Biggest Companies in america got in trouble, nobody in washington ever asked where would we get the trillions of dollars to bail out the Biggest Companies in the world that did this to themselves. The cost of one year of paying no income tax is 1. 2 trillion. The cost of the obama stimulus plan in year one of his presidency that did nothing, never saved a job, never created a job and went mostly to Green Energy Companies like solyndra that went bankrupt, the result of that was to . 3 trillion spent on a failed stimulus to know where. I will only want to spend 1. 2 trillion by giving the American People back their money. What does that mean . I believe in the power of the people and im with the constitution and the with the Founding Fathers. You name it. They wouldve told you the only answer to green jobs is the people in this audience. I call you the financial first responders. You are like [applause] you are like policemen and firemen who run into a burning building. We run into a burning economy. Its only crazy people like me and ziad and use that would see a horrible economy and set up to 1 million, let me open a business with a good idea. We need to encourage them. We dont need to give the money to poor people. We need to ge give the money to people who create jobs, and so my idea stars government but gives of the money to the people and the people will get soaked cited. Im on the right as a politician. There are people on the left and they are pashtun their theory is government is great in government is good. Government doesnt create a single job. I heard the idea that you didnt build the. Guess what, our president was right. He is 100 right. When you build the business you will credit the highways and roads and hospitals and airports and good communities and schools and people in the schools, good teachers, and you will credit the government, right . Guess who finds government . Businessmen and women. Government doesnt earn 1 dollar on its own. We provide 100 of incom of thee for government to pay for bridges and highways and roads and hospitals and airports and schools. Without us theres nothing. We are the heroes of the american workforce. Business owners, and we must be encouraged and motivated and empowered, not demonize. So i am the guy fighting for Small Business owners. Thats what im fighting for. I want to give them all one year to get their life back on track and create businesses and hire people and create 20 million jobs. I created a middleclass contract with america inside my book the murder of the middle class. Plank one is a National Income tax vacation. Plate number two is what we give back the National Income tax vacation. How do you treat those people . Reagan proved again, lower taxes, flatter taxes create an orgy literally a standing at success and investing. So i proposed instead of a suicidal run that we are on, raise taxes to 43. 8 which is what income taxes are now, 40 was 3. 8 obama to attacks, 43. 8 is emulating a model of greece. They are tax rate is 40 . I dont want to emulate greece. They have 30 unemployment, 60 youth unemployment. Who wants to model that . I want to model hong kong which has a 15 flat tax and 0 capital gain. The letter says weight again, youre making rich people richer. 0 Capital Gains, have you lost your mind . The answer is i dont care if a rich guy gets richer as long as i get richer. Thats the way we got to teach the people dissing. As long as you get richer and the butcher gets richer and the baker gets richer, what do you care if you make 12,000 he makes 12 million . Would you rather not make the 12,000 . Everyone needs their money. When they make money they spend it. So someone said to me, i was Walking Around new york city and go to my next interview, i have nine interviews, i did about six in my hotel room and three i had to run around the city. Someone said im so glad youre here. Your book is out, you are spending money. Im glad. I said right. Is a ver theory that if you takn extra 5000 from the because is a quote from politicians, get ready, he can afford it. That means i wouldnt come to nuke cities issue. I would skip it because thats an extra three or 5000 i need to take a trip with my family to new york city. Every dollar you take from the people in taxes big money they wouldve spent on something that is great for the economy. Every single dollar. I come back from a National Vacation with the certainty of a 0150 plan. Zero income tax or when you, then a 15 flat tax which includes just like hong kong greatest economy in the world, humming economy, 3 unemployment and it includes mortgage and shareable deductions. I would add one more. Health care deduction. Every time you spent on health care is tax deductible off your taxes. Except people asked me where to get my energy. Nine interviews today. Im giving a speech. Do you think ive energy . I think 105 until the day and work out an hour and half every day. Included in the deduction should be gym membership and vitamins. More important than viagra, more important than pharmaceutical drugs. Preventative medicine. Stay healthy before you ever get sick and need doctors in the first place. 0150. You want to see as liberals would say greedy people on wall street create jobs . Out how you how you motivate greedy people. You tell them they will get 0 Capital Gains when they start a business and 60. I say i love it. Greed is good. As gordon gekko would say. Its good for america, good for charity. In the state the nevada the study is out, 99 of all Charitable Giving is given by the top 1 . Without the 1 there is no church giving, there is a charity giving, there is no help for the poor. Greed is good because without greed nobody would invent the cure for cancer or aids or diabetes or alzheimers, the great scourge of the future of america. You want to solve the problems of america. Think of my good friend who i grew up with on the same block when we were three years old, just pure luck. Im and one half house, hes another. I become a Vice President ial nominee and a National Best selling author. He lives two doors down and he becomes taking of space travel of the United States. The chairman of space x. Foundation. He offers reward. It offers the 20 million reward for the first by the company that would put a spacecraft into space. Thats my friend from the age of three. Peter said to me, its so ridiculous, the Energy Department spends 28 billion a year and its been around since 1977 and its goal is energy independence. What do we spend 20 billion a year on. We are no more Energy Independent than we were in 1977. Why dont we cancel the department of energy, get people back to 28 billion a year, divide it up and pay for gas and lets put a prize for one year of 28 billion, the entire budget of the department of energy for when you and offer to the company that solves the most important problem in america. 28 billion to solve alzheimers. 20 billion if you saw diabetes. 28 billion if you solve cancer. 28 billion if unit of fuel replaces fossil fuel. Im the guy who wants to harness the power of the private sector. Thats the only time i would ever use government money for anything is to harvest the power of the private sector to solve our biggest problems. Heres another idea. To jumpstart jobs, jumpstart jobs. America desperately needs jobs. Two out of every three are created by Small Business. I propose Angel Investors tax deduction. Investors would receive 1 dollar for dollar tax credit of up to 50 of the income tax bill for up to 50,000 for investments in new business startups. You want to create jobs, do you want to see the economy explode . Watch what happens within Angel Investors tax deduction. If you are a middleclass american, you can literally invest 50,000, or any amount up to 50,000 in a Small Business every year. Lets say you are a lower middleclass american and you take advantage of my idea. You invest 10,000 each year in one of your friends starts. We know the way to get rich in america is to invest any started. It is the best way to earn a fortune. So for the next 10 years youll save 10,000 on your taxes with the irs and you have 10, 10,000 working on Small Businesses across the country. If even one comes through youve now got your Retirement Fund and he never did social security. You will not have to worry about for the rest of your life. If you gave 10,002 the irs every year for 10 years, that 100,000 is gone for ever with no chance of you ever using it in your entire life. Heres another idea. Theres over 2 trillion parked offshore nowadays. 2 trillion. Every one of those companies would love to bring it back, get it working in america. But they will not bring it back with the highest Corporate Income tax rate in the world of 35 and another five to 10 in state income tax. Crazy. What are they doing . Not only is the money parked offshore, ma and a parking their businesses offshore. Youve heard of the idea of conversion. They are leaving the United States by buying another company in scotland, ireland, switzerland. Theyre leaving america for tax purposes or theyre giving up their citizenship. Why dont we give them back . All those jobs are gone for ever. I propose that money, if you bring it back we will let you bring it back for a one time penalty of 10 . Thats 200 billion in new taxes for america and thats one point a trillion left over to get working to create jobs and to build businesses in this country. Thats how you create success instead of the left idea, that oh, my gosh, wayne root is letting him get away with murder. Thats 2 trillion they should be paying 1 trillion hes letting them get away the only thing 200 billion of taxes. Folks, 100 of nothing is nothing. Im getting 10 of something. The idea that government thinks they deserve 50 but no one will pay it is crazy. Its groundhog day. Trying the same thing again and again that fails again and again. It failed in europe, it failed in common is countries, but record high stock market. Thats exactly whats happening in the United States. Ive got 100 ideas. Ziad i know is telling its have a question and answer. I want to do one more thing at you. One more. The problem we have in this country is that is a credit card. Let me show you my American Express card. Can you imagine if i have an American Express card and im on the board of directors of American Express and i decide to vote that he would dispense money on American Express and brings up a big build doesnt have to pay it back . Oropeza back with a 0 interest rate. Would you not call that a conflict of interest . In our country we have 148 Million People collecting welfare checks and theyre all voting the its the most massive conflict of interest in the history of mankind. Im not a radical. Im very reasonable commonsense but if you need welfare, if youre in trouble, wayne root as im going to give it to you but im not going to let you vote until the day you get off it. You cant have welfare and vote. You can vote but you cant have welfare. Its in sandy and its suicidal that a nation would allow people who are collecting government checks to be able to vote for more government so they get bigger checks and checks for a longer period of time and to make government bigger. It is the most massive conflict of interest ever. So im not saying anything bad here like the Founding Fathers want only people of property to vote. I dont agree. Everyone has a right to vote unless you are not can she put in to society. Win the day comes where you take and to give nothing, you will no longer be allowed to vote. When you get back off the welfare, you can vote tomorrow. Thats how you solve the problems of america. Commonsense from a bluecollar son of a butcher. Thank you ladies and gentlemen,. [applause] all right. We can have like half an hour jew and a. If you have any questions on this site, go and speak at that mike back. If youre in on the site, follow me. I have a question, a comment for you and the question. Brilliant. Truly brilliant. Empowering, inspiring. I wish we could clone you. We need more people who think like this. Honestly this is really pretty inspiring. Question, i think you missed someone. Which i think the snake as everything is the fed. What you exactly the point. What do you do with the fed . Let me finish. The fed has been since 1913, the dollar depreciated 94 . The fed made president , broke presid