Peter Ferrara: Government the Employer of Last Resort?

Peter Ferrara: Government the Employer of Last Resort?

welcome back thirty four minutes past
the artillery near where you live from the deserted political action conference
e pack and sitting right across from a my old
friend and debating partner peter ferrara napier as i always say glad to be here not sure
about that right now but that’s not what is the signature line that said i was
very very said he wouldn’t have been person uh… dear works for the heartland
institute heartland dot org is the website is the director of entitlement budget policy and you’re working on win-win in fact i
want reform never hear it entitlement reform coming out of the
mouths of conservatives like yourself nonsense uh… technocratic abroad for product it’s usually we drill down into it means sp poor people are gonna get lots well that’s exactly what i’m trying to
counter that’s what i mean by win-win in time
for okay maritima programs are so old outdated uh… poorly constructed but you can in fact we formed them by
proven reforms that have already shown that they can work in the real world fashion provide better benefits of
income for the poor and for seniors while saving taxpayers fifty percent or
more missus involved rohan handing them off to the banks knowing that i don’t know how you handle somebody to
well just expel you’d be privatized i mean it’s it’s slight paul ryan was
about rice medicare he wants to turn over to the health insurance companies is that the server for retirement or old
time but actually change in the government programs but keeping the
government is the interest group that breaks the checks wealthy people really is not the best
for the poor if the government’s group ride checks but uh… we present i should be better banks would be better now on that’s
actually banks have uh… well sterility that depends on what reform talking
about but i do you turn sample the nineteen ninety-six welfare reform where they block granted the uh… one now hold to play at the one hold
media welfare program the old aid to families depend so the program if d_c_
back to the states and he said the states you now the fourteenth incentives would send a federal funding back to you
in a in a fixed finite block grant previously the funding simplest federal
funding is provided in a way that called matching tanner
mashing formula the more the states that them with federal government would send
it to stay and i was effectively paying states
spend more which they were glad to be less long
felt that was going to do it so well they have the they had to do within certain guidelines
and they have demonstrate they actually had poor people when there’s a reason why mississippi
was getting more that money that was you know a wealthier smaller and state
like people down well they have a sign of more poor
people from welfare to get the money but they’re tried to do that as long as the
program’s payment you back but they what’s wrong with that what well it it gives you the insanity son or people spend more than is
necessary so what they did with the reform is they said okay now you’re gonna get a fixed finite
amount uh… from the federal government i t spend more that fatima
hundred-percent your pocket but at least get people out to work he spent last
then off didn’t you can see to see a picture of
what an s_l_ work that what that what happened was that
transformed in citizens that a couple years two-thirds of the people on that
program nationwide actually went to war yellowstone’s we we had three percent
unemployment we had an if we if we were in the middle of an economic bubble but
when the one bubble burst those people the results if you had to
catch them because if d_c_ adam destroyed i’m gonna show you this price image for
you in a reprieve but let me finish what they did in nine states and day out on so in ninety six eight changed to reflect the same as for
the state bureaucrats in nursing programs states went from he may be beat my
brother to you guys got to get out go to work and so actually uh… even the little
said these people can work you can support themselves within a couple years two-thirds the
people who were depend on their program left the program actually went to war burying concert document increased by
twenty five percent uh… poverty it drops precipitously particularly
uh… poverty among black children visit document results that you want book work
over welfare by l_ ron haskins brookings institution document it uh… these
results appear you can ignore the fact that we were in the middle of a bubble
all that stuff went in the actual disney subtraction in
two thousand eight two thousand and two thousand when we when we went into a depression
principle that we see a contact written
extensively about that that was of course caused by the government caused
by the federal reserve whoever cause i always go through it but okay but you
know clinton’s reforming welfare set up a disaster for people in the business
cycle crashed well the the the discipline you crash the uh…
economy that’s going to hurt everybody but you know as i discussed in ipoh
premised essence reform here’s my idea for women ralph sent expand that successful program to all the federal means-tested welfare
programs is another two hundred federal meets us at welfare programs we
spent ten trillion of those programs over the next ten years block grant back to the states and what
should the states to statesmen have that money there the forty
completely new welfare system so here’s my new well first is to be tough you in fact party green with this height would have welfare system that
would eliminate poverty uh… categorically with a guarantee offer of work under our federal under the current
federal minimum wage that plus the earned income tax credit
plus the child tax credit if you work now full-time year-round you
will ah… every family will be out of poverty they were heard enough to get out of had
a pop and so the federal so the state
government i’d recommend should say to them you come to this welfare office before
nine the morning we guarantee you he hours worked at the minimum wage mhm we guarantee you groups you see any
government should be the employer of last resort uh… yeah under this proposal if they
can’t find they will try operate like that these temp agencies and give you an
assignment sure at the two work for the day on a
big fan of its empire of last resort that was the cornerstone of the new deal
we you in fact you’ve you’ve become a liberal here yet he was before the u_s_
support this now see that transforms his sentence
because there’s no more disincentive to work from welfare bill still works regularly
also that was the best welfare program in the world is a job so if you get a
program like that when i think what happened is that uh… millions of people who were doubt on the
government would go to work just like they did in nineteen ninety-seven
anybody which i do want to get something in place for people like a nice i don’t
i don’t believe in yuma suffering so there should be to seeking it under all circumstances the pic prevent
people from starvation from uh… a lack of housing from from strong suffering due to lack
of medical care and if you do via incentives right so you don’t creep
unnecessary dependency it won’t cost much marriage society it
doesn’t cost much to help people in the as long as you’re not creepy by paying people to the poor which is what the whole system did surprisingly rational i don’t i mean surprisingly like from you it’s its progression sought to hike to
leave the safety nets for everybody ad sales assistant is where they absolutely
need movie don’t create need and then over to the taxpayer there though the
one area where i think i might dispute years suggestion is that you’re saying that you think that’s a
bureaucrat sir better unless preferable in two federal bureaucrats block grant block grants in the states rather than
federal programs well the thing is handy you change
theory centers with the way we structured the block grants and so
that’s the key the future non-story religion is you’re going to
you’re going to turn over say bureaucrats assessor rupert’s and because they can’t mike’s first in
the state bureaucrats are more corrupt herbal center it’s well you know there’s
certainly certainly a lot less scrutiny well the same people both for state
officials at both the federal officials so do you think picking him responsibility believe
president st and they can have a responsibility
twenty for the governor indicating our status personally forty for u_s_
senators and congressmen pick an analyst must legally for state legislator so
uh… some states in this country that forrest dances well you know they i don’t see a lot of
corruption in the on the welfare side of things uh… but you have uh… crux of the
federal level yet programs the fed’s administer that had huge amounts of
documented we has fraud abuse in shirt albeit we have we have three months
before we got to take a break seventy you you had said before when we were
talking off here use with sudha i made the same mistake the karl marx
students and capitalist not productive gave you seem to think the capital makes
the contribution to production let me make it very clear i think that capital does make a
contribution productivity and capital plays an important role in
our society my point is that somebody who runs the living with capital should pay the same income tax rate as
somebody who earns their living with labor library what kind of a percent so saint
action they should be just tax three or four
times example is what i say this to you know mister where the capital gains
loopholes and and have capital gains taxes taxed secured so paris hilton sonata but around the pool earning your
living with capital is paying the same tax-rate the your
iron worker near living with our minds our bodies kappa dean-sax double taxed
at the scene testified labor ye kapiti inspection easier of all let
justice troubles that’s capital gains taxes on top of uh… to corporate income tax that’s on
top of the indigent lincoln tax some top of the death tax and i don’t believe
multiple taxation labor income on tip so uh… uh… we get a general reduction in
taxation across-the-board if you want to use that argument every dollar layered
argument recall it make it up ally and i i don’t have to say it has a laceration
of capital every dollar comes into my programs that i used to pay to paid by employers every single dollar
that came from a company that had paid taxes on it so it’s already been taxed so i shouldn’t have to pay taxes i don’t
know cedar thing is that afpcapital is up at the present what is the fifth capital
value of a manasa it’s the present value of the future discounted value the future income
stream that industry is going to be tax twenty
third city tax the capital value you’re taxing
that future income same income stream twice you see windy you’re talking about what
comes into your company uh… that’s a new interesting to you
and so that should be taxed wants but with the capital gain inherently taxes
the singing country auto capital gains if i if i go out i buy a bunch of
marriott stock and i’m sitting around my butt waiting for the dividend check to
arrive and i didn’t pay too taxes on that money that i used to buy
this criticized the at the corporate income tax would be a guided attacks on
him i have bought with after staff is excellent faces a sentence of if you have the
capital tina rises because people think that the future income stream through
that cap was going to increase that income stream is going to be taxed
when its current so you may not have heard of the tax on dividends but in
addition the capital gains they pay tax on dividends and the corporation pays
another tax on that scene income stream so cn defense team is tax every time
some operations pain on the income stream that it’s using the page salaries
as well spitting on the yes it is is being
street i’m sending income stream to the corporation because capital is also nonsense
argument no it’s bolting taxation of capital and it’s working people that lose
custody if they don’t have capital best with jobs not create it whether tools e
more productive and wages i don’t go up as fast actually got can decline right
in right so you disagree with you just heard ronald reagan rate reagan made
capital gains in regular ordinary income exactly the same twenty percent reagan agrees with me that’s quite hard
at work at the white house okay


8 thoughts on “Peter Ferrara: Government the Employer of Last Resort?”

Leave a Reply

Your email address will not be published. Required fields are marked *