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<v Speaker 1>Bill Cunningham, the great American. Of course, Grover Norquest has

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<v Speaker 1>been there for decades about tax reform. Heads up the

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<v Speaker 1>Group of Americans for Tax Reform. Have the website up

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<v Speaker 1>now there's about policy, areas, commentary and more. Donate and

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<v Speaker 1>Grover Norquiest welcome again to the Bill Cunningham Show. And

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<v Speaker 1>first of all, Grover, tell the American people what the

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<v Speaker 1>recent Gallup polls indicated about the tax policies of both

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<v Speaker 1>Kamala Harris and also Donald Trump.

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<v Speaker 2>Well, if you are an establishment media personality, this may

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<v Speaker 2>shock you.

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<v Speaker 3>The rest of us probably not.

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<v Speaker 2>Gallup asked Americans are you overtaxed, under taxed, or just right?

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<v Speaker 2>And fifty six percent of Americans said they're overtaxed? Four

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<v Speaker 2>fou are four percent not? Fourty four percent? One two

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<v Speaker 2>three four said they're under taxed, thirty six percent about right.

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<v Speaker 2>And this is an independence are sixty percent? Independents are

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<v Speaker 2>more likely to feel over taxed than other people. And

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<v Speaker 2>of course that's who this campaign is all about for

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<v Speaker 2>the last several weeks.

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<v Speaker 3>So it is very interesting because.

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<v Speaker 2>On an issue that is completely black and white, you know,

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<v Speaker 2>you know clear where the American people are. The two

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<v Speaker 2>parties and the two candidates are going in completely different directions.

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<v Speaker 2>They are not, you know, on some issues that are popular,

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<v Speaker 2>both candidates for the House of the Senate the president

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<v Speaker 2>will tell you they think the same thing, even if it's.

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<v Speaker 3>Not entirely true.

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<v Speaker 2>But here Kamala Harris has said I want more taxes

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<v Speaker 2>and she has listed them, and Trump has said I

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<v Speaker 2>want only lower taxes and he's listed those.

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<v Speaker 1>So you would think based upon that alone, when four

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<v Speaker 1>percent of the American people claim I want to pay

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<v Speaker 1>more taxes, of course they can do that anyway by

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<v Speaker 1>simply donating money to the irs. The great majority don't

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<v Speaker 1>want it. One of the classic comments I think you

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<v Speaker 1>pointed it out to me a few years back is

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<v Speaker 1>that when Barack when Barack Husain Obama was asked whether

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<v Speaker 1>or not the increase in taxes may produce less revenue

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<v Speaker 1>because it stills and chills economic activity, he said, that's okay.

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<v Speaker 1>It's almost like a punishment that if someone succeeds, we

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<v Speaker 1>want to punish them. So even though a lower tax

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<v Speaker 1>rate produces more revenue, Democrats don't like that anyway, correct.

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<v Speaker 2>Can you make That was specifically on the capital gains tax,

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<v Speaker 2>which is a tax that is very sensitive to a

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<v Speaker 2>capital games income. It's very sensitive detaxes because you don't

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<v Speaker 2>have to invest it and get capital gains.

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<v Speaker 3>You can buy a car, okay, you can go on

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<v Speaker 3>a vacation, you can do all sorts of things with

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<v Speaker 3>that money. Nobody taxes you.

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<v Speaker 2>But if you invest it and you help create jobs

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<v Speaker 2>and it makes more money, then you get punished for them. Okay,

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<v Speaker 2>So a high capital gain tax. People buy stuff they

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<v Speaker 2>don't invest.

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<v Speaker 3>And when England was at it's.

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<v Speaker 2>Worst off, all of these roles voices were around you,

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<v Speaker 2>So oh must be really rich. No, those that's what

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<v Speaker 2>successful people do with their money. When they have no

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<v Speaker 2>faith in the future. They buy a fancy car. They

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<v Speaker 2>don't put this in the ATMT or uber or some

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<v Speaker 2>other company to invest that. They try and make more

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<v Speaker 2>money for their kids or for the future. So, yes,

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<v Speaker 2>the capital gains tax. When it was pointed out to them,

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<v Speaker 2>the history shows cut the capital game tax the government

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<v Speaker 2>gets more money.

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<v Speaker 4>Yes, but that's wrong. I'd rather have higher taxes, have.

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<v Speaker 3>People who invest be punished.

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<v Speaker 2>Then for everybody in the room to be better off.

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<v Speaker 1>I kind of want America to listen to that. That

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<v Speaker 1>the Democrats believe that if you raise the capital gains rate,

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<v Speaker 1>it produces less revenue to the government, and therefore there's

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<v Speaker 1>greater deficits. That's a good thing, because you punish achievers,

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<v Speaker 1>even if it produces more money. That that's a bad

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<v Speaker 1>thing to me. It is flabbergasting that people can't figure

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<v Speaker 1>that out. Talk about Kamala Harris. She has locked on

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<v Speaker 1>her head the number four hundred thousand dollars. And Biden

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<v Speaker 1>says this, of course again, which is a lie that

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<v Speaker 1>no one's going to be taxed. If you make four

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<v Speaker 1>hundred thousand dollars or less, you're not going to have

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<v Speaker 1>your taxes go up at all, go up. If you

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<v Speaker 1>make less, your taxes are going to go down or

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<v Speaker 1>not go up whatsoever. Why is that wrong? Why does

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<v Speaker 1>that make no sense? Grover Norquiest.

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<v Speaker 2>It is the lie that Clinton told he had a number,

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<v Speaker 2>I'll never tax anyone who makes less than one hundred

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<v Speaker 2>and fifty or twenty thousand dollars. Then Biden had the

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<v Speaker 2>same number, I won't touch anyone plus in two hundred

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<v Speaker 2>fifty thousand dollars.

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<v Speaker 4>Now it's four hundred thousand dollars. Why do they say that.

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<v Speaker 2>Because Americans don't want higher taxes, and they want to

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<v Speaker 2>promise them that.

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<v Speaker 3>Oh, I don't mean you, just these other people.

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<v Speaker 2>But in point of fact, the first tax that Obama

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<v Speaker 2>put on was on cigarette smokers average income thirty five thousand.

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<v Speaker 3>Dollars a year. He wanted the money.

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<v Speaker 2>He doesn't care whether you're addicted to something. He wants

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<v Speaker 2>that's poor people. He wants to cash. He wants to

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<v Speaker 2>tax energy. And so they say that. Of course, one

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<v Speaker 2>of the things Biden dead he said four hundred thousand dollars,

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<v Speaker 2>Kamala Harris says four hundred thousand dollars. But since those

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<v Speaker 2>two have been in office, that's four hundred thousand because

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<v Speaker 2>of inflation, is only really worth three hundred and thirty

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<v Speaker 2>thousand in real American dollars. So more and more people

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<v Speaker 2>are hit by them assuming but of course that's not accurate.

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<v Speaker 2>They've raised taxes on they want to raise taxes on corporations.

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<v Speaker 3>Well, where do corporations get their money?

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<v Speaker 2>They raise prices on all consumers, that's everybody, and they

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<v Speaker 2>lower wages. The biggest thing that happens with the corporate

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<v Speaker 2>income taxes.

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<v Speaker 3>Wages are lowered.

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<v Speaker 2>For everyone because where else is the government get where

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<v Speaker 2>else does the company get the money prompt It's a

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<v Speaker 2>seventy percent of everything they do is wages. So if

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<v Speaker 2>you're going to tell you you're missing a million dollars,

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<v Speaker 2>seventy percent of that coming from wages.

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<v Speaker 3>So that tax.

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<v Speaker 2>Directly hits middle income people. Here's what Kamala Harris wants

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<v Speaker 2>to do. She wants to get rid of all the

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<v Speaker 2>Trump tax cuts. Okay, we'd raise.

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<v Speaker 4>Everyone's income tax rate everyone.

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<v Speaker 2>She wants to take the corporate rate up thirty three percent,

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<v Speaker 2>higher than China, Okay, higher than everybody in Europe, and

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<v Speaker 2>then she wants to take the personal income tax for

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<v Speaker 2>everybody higher.

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<v Speaker 3>She wants to take.

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<v Speaker 2>The capital games tax up to two thirty three percent,

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<v Speaker 2>which is higher than China is, of course, almost twice

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<v Speaker 2>as high as China's talking about competitors and Mick shooting

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<v Speaker 2>ourselves in the foot we when we do this, But

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<v Speaker 2>that's the capital games tax as high as it was

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<v Speaker 2>under Jimmy Carter when everything went to hades, and even

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<v Speaker 2>the Democrats agreed to pull that down.

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<v Speaker 3>She wants to impose a.

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<v Speaker 2>Second death tax in order to catch all the inflation

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<v Speaker 2>during your lifetime. I don't know why they figured on

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<v Speaker 2>that one, But that makes some sense given how they've

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<v Speaker 2>operated a carbon tax of course, raising the price of energy, gasoline,

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<v Speaker 2>many ultimate different energy taxes that just hit everybody. She

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<v Speaker 2>wants to give the Europeans de top power over our

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<v Speaker 2>tax cuts.

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<v Speaker 3>Let me say it again.

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<v Speaker 2>She wants to let Paris and Moscow and Pee King

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<v Speaker 2>decide when we can cut taxes because he wants to

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<v Speaker 2>have a like an okak. The Europeans said, why don't

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<v Speaker 2>we all get together and agreed not to cut taxes

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<v Speaker 2>too much because Trump was taking taxes so low and

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<v Speaker 2>money was you know, trillions of dollars flowed into the

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<v Speaker 2>United States as a result of that.

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<v Speaker 3>Ed will again.

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<v Speaker 2>Trump wants to take the twenty one percent corporate down

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<v Speaker 2>to fifteen. That will bring even more money into invest

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<v Speaker 2>in the United States, and Europe doesn't want that at all.

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<v Speaker 2>So they want to have a deal where we all

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<v Speaker 2>agree not to compete by making our citizens better off.

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<v Speaker 2>And Biden and Kamala Harris are for that. President Trump

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<v Speaker 2>is obviously against it, and Kamala and Biden completely four

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<v Speaker 2>dramatically increasing the number of IRS agents who want to

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<v Speaker 2>go and bother you all day.

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<v Speaker 1>So really, the socialists, whether they're in Europe or China,

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<v Speaker 1>they want to make sure that America is not the

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<v Speaker 1>dominant country in the world. So if Donald Trump is

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<v Speaker 1>elected and takes the capital gains rate from twenty one

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<v Speaker 1>to fifteen percent, it means more money available to the

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<v Speaker 1>US government the form of taxes. More activity means more

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<v Speaker 1>taxes are paid. But it hurts the socialistic countries well

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<v Speaker 1>down the tubes. And therefore you're going to have Paris

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<v Speaker 1>in Beijing controlling our tax code. That's not well covered

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<v Speaker 1>in the media. Plus, I watched I watched one of

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<v Speaker 1>the morning shows. Mark Cuban was there talking about unrealized

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<v Speaker 1>capital gains, and he made the point, well, that'll never happen.

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<v Speaker 1>Then why does Kamal Ayers talk about taxing unrealized gains?

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<v Speaker 1>Can you explain to the American people how that relates

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<v Speaker 1>to them personally? Because everything that moves or regulates or

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<v Speaker 1>is existing in existence that democrats want to increase taxes,

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<v Speaker 1>what does it mean to tax unrealized capital gains? Break

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<v Speaker 1>it down, Grover nor Quist for the American.

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<v Speaker 2>People, Absolutely, an unrealized capital gain is what we would

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<v Speaker 2>call in the real world, not a capital game. So

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<v Speaker 2>you have a farm, and because of inflation, because you

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<v Speaker 2>work it hard, the farm is now worth more. You

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<v Speaker 2>haven't sold it because you're running a farm, But the

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<v Speaker 2>government says, well, your farm used to be worth this,

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<v Speaker 2>now it's worth more. That increase we consider income. It's

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<v Speaker 2>not I don't have the money. I'm not going to

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<v Speaker 2>sell my farm.

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<v Speaker 4>It would be.

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<v Speaker 3>Income if I sold the farm.

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<v Speaker 4>But I'm not.

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<v Speaker 2>Selling the farm, and Doe you have to pay taxes

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<v Speaker 2>as if you've sold it. Now, what happens when the

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<v Speaker 2>price goes down? If there's a receptquestion, I don't know

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<v Speaker 2>that's a really good question. But when the value of

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<v Speaker 2>your home goes up, you would pay income taxes on

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<v Speaker 2>that as if your house is now worth twenty thousand

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<v Speaker 2>dollars more than it used to, we're going to tax

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<v Speaker 2>you as if you just earned twenty thousand dollars. It's unrecognized,

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<v Speaker 2>unrealized meaning you haven't cashed out.

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<v Speaker 3>If you cast out, then you pay capalgase.

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<v Speaker 2>But this is something that, first of all, it's completely unconstitutional.

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<v Speaker 2>It's not income. Constitution lists a very few things the

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<v Speaker 2>federallymic can tax. Income is one of them. Unrealized income

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<v Speaker 2>is not one of them, so this and of course

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<v Speaker 2>we're going to do it for rich people. You know,

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<v Speaker 2>when they put the Federal Income Tact in the top

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<v Speaker 2>rate was seven percent. You had to make eleven million

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<v Speaker 2>dollars in today's dollars before you'd hit seven percent tax rate.

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<v Speaker 2>Now the bottom rates less is more than seven percent,

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<v Speaker 2>and more than half the country's paying more than that.

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<v Speaker 2>So they always start up high and Cook Cuban of

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<v Speaker 2>oil is just a few people. Yeah, you're one, maybe

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<v Speaker 2>just a few people. And Cuban, what an idiot?

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<v Speaker 1>Hey, Mark Cuban said, Look, Mark Cuban said, that's he

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<v Speaker 1>supports Kamala Harris, the guy that owns part of the

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<v Speaker 1>Dallas Mavericks. He said, that's a really bad idea. It's

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<v Speaker 1>really stupid. So it is so stupid it'll never happen.

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<v Speaker 1>And then Joe Kernin said of CNB, well, how do

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<v Speaker 1>you know that it's so stupid? She I'll talk her

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<v Speaker 1>out of it, And then Joe went over a bunch

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<v Speaker 1>of other taxes that was really stupid also, and Mark

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<v Speaker 1>Cuban kept saying, well, you can't do that, you can't

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<v Speaker 1>do that. You can't raise the corporate rate because corporations

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<v Speaker 1>paid no taxes. They simply pass on to the consumer

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<v Speaker 1>the cost of the tax and the form of higher prices.

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<v Speaker 1>So we can't do that, can't do this, can't do that? Well,

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<v Speaker 1>what if she does? What if the House and the

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<v Speaker 1>Senate go Democratic, which is fifty to fifty chance, that

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<v Speaker 1>might get rid of the filibuster. They can do anything

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<v Speaker 1>they want to do. Why wouldn't she keep her honest?

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<v Speaker 2>And mister Cuban, how do you make that much money

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<v Speaker 2>being that stupid? Does mister Cuban not understand that he

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<v Speaker 2>doesn't actually have a vote on this question.

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<v Speaker 3>Oh, you gave her a lot of campaign contributions.

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<v Speaker 2>That's nice. Now she has power, and the House and

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<v Speaker 2>the senate's full of Democrats who also have power.

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<v Speaker 3>If they win both.

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<v Speaker 2>The first thing they'll do is take the corporate rate

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<v Speaker 2>up and wages will go down. And then they'll do

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<v Speaker 2>capital game tax, which also scares investment away from the

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<v Speaker 2>country and unrealized capital game. And then the financial transactions tax,

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<v Speaker 2>which is every time money moves from one bank to.

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<v Speaker 3>Another, like when you do Venmo and all this other stuff.

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<v Speaker 3>They take just a nater piece of it.

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<v Speaker 2>But if you add it all up at seven hundred

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<v Speaker 2>and fifty million dollars that just disappears out of activity.

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<v Speaker 2>That means whenever you're buying something you use a credit

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<v Speaker 2>card or whatever, there's a little thing. There's a little

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<v Speaker 2>thing there. And by the way, you don't have to

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<v Speaker 2>make four und thousand dollars to get nicked. But they

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<v Speaker 2>love it because it's so hidden.

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<v Speaker 3>Wells a little bit each day.

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<v Speaker 1>It's huge money the government needs for all their boondoggle.

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<v Speaker 1>Ronald Reagan says something in the effect that if it moves,

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<v Speaker 1>tax it, if it keeps moving, regulated, if it stops moving,

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<v Speaker 1>subsidize it. And so that describes where we are. And

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<v Speaker 1>what about the death tax? What does Kamala Harris want

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<v Speaker 1>to do with the death tax? You don't have the

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<v Speaker 1>right to doe.

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<v Speaker 2>Yes, Well, first of all, you know there's a certain

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<v Speaker 2>point where you can inherit money and you don't pay taxes.

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<v Speaker 2>She wants to take that down to hit more people,

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<v Speaker 2>and eventually that she wants to hit everybody because they

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<v Speaker 2>don't think just because you made it that you should

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<v Speaker 2>be able to decide how to spend it. And she

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<v Speaker 2>wants to second death tax, which will be when you die.

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<v Speaker 2>Usually you could hand your house for small business or

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<v Speaker 2>your four one K to your children, and they would

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<v Speaker 2>accept it at the value at which when you passed.

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<v Speaker 4>But they say no, no, no, no. They have to

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<v Speaker 4>pay capital.

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<v Speaker 2>Gains on your house, on land, on a small business,

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<v Speaker 2>on your four and k on your pension all your lifetime,

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<v Speaker 2>all the inflation that took place during that okay, all

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<v Speaker 2>the capital game that happened.

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<v Speaker 3>That gets taxed first. Then they can have the body.

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<v Speaker 4>Oh, by the way, and then they pay the normal

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<v Speaker 4>death tacks. So the second death back specifically hitting people

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<v Speaker 4>who lived under Biden's inflation. It is really really pernicious.

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<v Speaker 1>Well, I guess this election is extremely confident consequential because

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<v Speaker 1>you can only imagine if your lower taxes, the government

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<v Speaker 1>generates more revenue because of greater activity. If you raise

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<v Speaker 1>taxes anticipating Americans will engage in similar conduct even though

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<v Speaker 1>the taxes are hr that is false. John F. Kennedy

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<v Speaker 1>knew it. President John F. Kennedy knew it. The best

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<v Speaker 1>way to get more revenue to the government is the

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<v Speaker 1>lower tax rates causing more economic activity, meaning more money in.

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<v Speaker 1>And the socialists in Europe do not want that. Grover

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<v Speaker 1>nor Quist, thanks again, but I can't let you go

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<v Speaker 1>without saying, once again, Ronald Reagan said it if it moves,

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<v Speaker 1>tax it. If it keeps moving, regulate it. If it

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<v Speaker 1>stops moving, subsidize it. And that's the inefficiencies of government.

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<v Speaker 1>And once again, Americans for Tax Reform. The website is fabulous,

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<v Speaker 1>all the information available, we get the government we deserve.

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<v Speaker 1>Grover nor Quist. At times that concerns me, but once again,

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<v Speaker 1>thank you for coming on the Bill Cunningham show. Let's

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<v Speaker 1>see what happens November the fifth, and Grover, you're a

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<v Speaker 1>great American. Thank you very much.

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<v Speaker 3>Thank you. Get out and vote, get out and vote.

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<v Speaker 1>Early and often. Thank you, Grover. Let's continue with more.

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<v Speaker 1>So the best way for government to exist and to

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<v Speaker 1>get more money is the lower the tax rates, so

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<v Speaker 1>there's more economic activity. When told that, you know, if

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<v Speaker 1>we do that, if we if we lower the tax rate,

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<v Speaker 1>there's more money coming into government, Democrats say, so what,

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<v Speaker 1>that's not the point. Yes, it is the point. They

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<v Speaker 1>simply want to punish achievers. And if you own a

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<v Speaker 1>home and it's gone up one hundred thousand dollars in value,

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<v Speaker 1>do you want to pay taxes on an unrealized gain?

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<v Speaker 1>Democrats want to tax everything which hurts the American economic activity.

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<v Speaker 1>Let's continue. Bill Cunningham News Radio seven hundred Wow