Peter Schiff on Huckabee - 21Nov2011 pt1

21 Nov 2011 Fox News


Presenter --
I don't begrudge Michael Moore having nice homes or making millions from his films. But he is a hypocrite. He is a capitalist. He makes things and makes profit from them and keeps enough of the profit to be a very wealthy man.


Peter Schiff --
Actually he is a better capitalist. He understands his market. His market is the socialist propaganda and he knows who he is selling it to. He says he doesn't believe in making money from money. That he is not a bad person because he doesn't invest his money. So he doesn't want businesses to have access to capital! Does he not understand where jobs come from, where economic growth comes from?

We need savings, we need investment. That's what grows the economy.


I want people, businessmen to bring their experience to Washington. They understand how government, taxes and regulation impedes economic growth and destroys jobs. The problem I have is when people go to Congress and make their millions while they're still there and then they leave and make millions more peddling influence with their former colleagues. That's the problem.


Fairness isn't about making sure that the rich pay more. At one point in this country there were no income taxes at all. It didn't start before 1913. Before that the rich didn't pay any income taxes but neither did the middle class. The economy grew a lot faster. It's the money that the rich don't send to Washington, that's where the jobs come from, that's where the prosperity comes from. Having people send more money to Washington is just going to drown the economy.

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