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And so if the great tax in america is a national sales tax, it disproportionately affects poor people, because more of their wealth is spent buying stuff. as compared to rich people who spend less of their wealth on buying stuff. he s also pointing out something very important about the working poor in particular, they pay more taxation in payroll taxes, in social security taxes than they do in income tax. in fact, 75% of our taxpayers pay more in payroll taxes than they do in income tals, when republicans are out there talking about people who don t pay income taxes, he s right, they re paying right off the bat, 15%. the employer he s absolutely right about the 15.3% in payroll tax. but ed is right, if you go to a 999 that doesn t even and he innovated into 888. ....
Strategy here has to be specific. yes, you have to reform entitlements, but you to reform the entitlements and invest and grow, and the quickest way to take down the invest is stop investing in growth. but in michigan, governor granholm supported the highest tax increases in the history of michigan and unemployment went from 6.8% to 15.3%. when i took over michigan and let s not get into an argument in michigan. well, it is a reality, and at the same time you had the governor of texas who actually supported tax decreases and more broadening of the base, and actually we had the fastest growth in texas and than any other other states. this is a great point, because michigan s economy is emblematic of what is going on in the nation. a global shift of manufacturing jobs and michigan had seven times more automotive manufacturing than other states in the country and we saw the jobs leave because of the global shift, so that the question for america is what can our nation do to make s ....
In order to grow, because the quickest way to take down your deficit is through growth. david, let s talk about the truth about what happened in michigan. governor granholm actually supported the highest tax increases in the history of michigan, and unemployment went from 6.8% to 15.3%. when i took over michigan let s not get into an argument about michigan. that s the reality. at the same time, you had the governor of texas, who actually supported tax decreases and more broadening of the base, and actually, we had the fastest growth in texas than any of the other states. this is a great point, because michigan s economy is emblematic of what s going on in the nation, a global shift in manufacturing jobs. michigan had seven times more automotive manufacturing than other states in the country, and we saw those jobs leave because of this global shift. so, the question for america is what can our nation do to make sure we have advanced ....
And so, we ve got to cut where we can in order to invest where we must in order to grow the economy, and it s that investment side that i worry that those who are affiliated with the tea party or who are on the far right don t realize that other countries are co-investing with businesses in order to create jobs in their countries. if we do nothing more than just cut, that will continue to accelerate the lack of growth in gdp. so, we ve got to realize that the strategy here must be very specific. yes, you ve got to reform entitlements, but you ve got to reform entitlements and invest in order to grow, because the quickest way to take down your deficit is through growth. david, let s talk about the truth about what happened in michigan. governor granholm actually supported the highest tax increases in the history of michigan, and unemployment went from 6.8% to 15.3%. ....
That those who are affiliated with the tea party or who are on the far right don t realize that other countries are co-investing with businesses in order to create jobs in their countries. if we do nothing more than just cut, that will continue to accelerate the lack of growth in gdp. so, we ve got to realize that the strategy here must be very specific. yes, you ve got to reform entitlements, but you ve got to reform entitlements and invest in order to grow, because the quickest way to take down your deficit is through growth. david, let s talk about the truth about what happened in michigan. governor granholm actually supported the highest tax increases in the history of michigan, and unemployment went from 6.8% to 15.3%. when i took over michigan an argument about michigan. michigan had ....