Wolf Blitzer delivers the most important breaking news and political, international, and national security stories of the day. Tune to The Situation Room weekdays 5-7pm ET on CNN.
Grover Norquist, president of Americans for Tax Reforms, is a Washington power player who wants to make sure the GOP keeps tax increases out of any debt deal. He sat down with Wolf Blitzer to discuss tax reform and debt negotiations.
SEE ALSO: Who is Grover Norquist? (Video)
This guy does not make any sense whatsoever. He also does not answer the questions clearly at all. Tax reform to him is rich people shouldn't pay taxes.
I'm sure he would support tax reform - if it meant that the rich would pay less taxes and the middle class more.
If you're a 1%er then sure, vote Republican, but if you're one of the 99% I don't see why you'd want to vote Republican.
The Republicans may be able to pee down a lot of people's legs and tell them it's raining - but I'm not one of them.
Ah, Grover Norquist who cofounded Islamic Free Market Fund... of Terrorist Financing Fame...
Grover Norquist describes less fortunate, non tax paying ,U.S. citizens as leaches. Putin describes the U.S. and its citizens as parasites to the global economy. These are the worst types of analogies to describe people. These types of statements were used by the scariest leader in history, Hitler. Economic systems have nothing to do with leaches and parasites. Shut up jerks !
This guy is a home grown terroist.
The default of the american government is a given. The question is not "if?" but "when?". It does seem like they will prolong the agony in Washington for some time to come, but the bankcrupsy will happen soon enough. The reason for this is that the ratio of debt to governmental incomes (taxes mainly) is in a mode of either grow or – at best – be in balance. It will never decrease. And the reason is that "noone gets elected with the policy of reducing the governmental debt". Now, you do have ways to deal with the debt ratio. And that is to print more money, and let that be a standard policy. The standard view on printing more money is that it leads to inflation, and inflation is considered something that must be fought. Instead you need to accept defeat to the aspiration to reduce inflation/fight inflation. Managing inflation should instead be the ideal for the politicians. Now, why would this solve the crisis of the federal budget? The reason why inflation is so loathed is because it devaluates the value of monetary wealth. Anyone with wealth in US dollars would lose relative buying power by the rate inflation grows. For the debitors to the US government then the 10 million US dollars they loan the government will be relatively less worth if the US dollars devaluates by printing more money. Now, why do I suggest this? The reason is that the default is even worse for them. Those 10 million dollars would be lost completely if the federal government collapses. This is why the debitors should be interested in a way to keep the government open for business... Their situation is a lot like that of the french nobility and priesthood in 1787 when the king wanted to change their exemption of taxes. They didnÂ´t budge one inch then, and after 14th of July 1789 they had to dance a much more brutal grim fandango than they had expected... Likewise the debitors need to budge one inch (by accepting the devaluation of their monetary wealth) or else face the complete eradication if their monetary fortunes (when the federal government cancels payment of old loans...)
The Republicans have promised not to raise taxes. Without raising taxes on individuals couldn't we have a Federal Tax on items that are not necessities or luxury items. Such as a Federal tax on jewelry, cruises, luxury hotels, tattoos, cosmetic surgery, liquor, luxury houses, second homes, private planes, recreational boats, luxury vehicles, motor homes, high end clothing stores, spas, resorts, and the list goes on. This way if you don't want to pay the tax, don't purchase the item.
n What? And who'se gouing to opay all these new taxes? you,Me, everyone. How do you think that will effect income?
And it's "lunch money", esp. to someone who makes millions. AlanKovner
This person lies. Follow the money trail. Wolf needs to get tough and call these liars out and not let them just go on with their lame talking points. Taxes are lower than ever in the last 50 years. So why not have the the wealthy 2% be asked to bear their fair burden? (this group have produced Zero Jobs in the 10 years of the Bush Tax Cuts).
OK, so this guy is saying he wants to get rid of the %15 capital gains tax, as long as there's reductions somewhere else in the amount that person/company is paying. How will that ever help paying off the debt?
You must be logged in to post a comment.
The Situation Room with Wolf Blitzer is the command center for breaking news, politics and extraordinary reports from around the world. Tune in weeknights from 5-7pm ET on CNN.
Subscribe | About Wolf Blitzer