Wealth taxes will impact everyday working people: Bobby Jindal


STREET JOURNAL” THEY EXPLORE ANY AND ALL POSSIBILITIES. THAT COULD BE AMONG THEM.>>>ALL RIGHT. REPUBLICAN FORMER GOVERNOR OF LOUISIANA, BOBBY JINDAL, PRESIDENTIAL CANDIDATE IN HIS OWN RIGHT A FEW YEARS AGO. WHAT DO YOU THINK OF WHAT THEY SEEM TO BE SAYING IS THAT IF IT LOOKS MORE LIKELY THAT WHOEVER EMERGES AMONG THE DEMOCRATS IS GOING TO BE A SOCK THE RICH, GO AFTER, YOU KNOW, GO AFTER THEM WITH HIGHER TAXES, A WEALTH TAX, HIGHER CORPORATE TAXES, THAT WORRIES THEM, THAT RATTLES THEM. WHAT DO YOU THINK?>>ABSOLUTELY. FIRST OF ALL, THANK YOU AGAIN FOR HAVING ME BACK. OBVIOUSLY OUR THOUGHTS AND PRAYERS GO OUT TO BERNIE SANDERS. I MAY NOT AGREE WITH HIS POLICIES BUT I CERTAINLY HOPE HE MAKES A QUICK AND FULL RECOVERY. NEIL: ABSOLUTELY.>>MY DAD HAD A STENT A YEAR AGO, MY SON HAD OPEN HEART SURGERY WHEN HE WAS AN INFANT. I KNOW HOW SERIOUS THAT IS. LOOK, I THINK WALL STREET AND THE AMERICAN PEOPLE HAVE A RIGHT TO BE WORRIED ABOUT THESE CRAZY LEFT POLICIES. THERE’S A PROBLEM, YOU KNOW, IT SOUNDS SOMEWHAT ATTRACTIVE WHEN ELIZABETH WARREN SAYS WE’RE NOT GOING TO TAX YOU, WE ARE JUST GOING TO TAX THE WEALTHY, THERE WILL BE A WEALTH TAX, IT REMINDS ME OF LOUISIANA. THEY HAVE A SAYING DON’T TAX YOU, DON’T TAX ME, TAX THE GUY BEHIND THE TREE. WHAT THAT MEANS IS DON’T WORRY, WE WON’T RAISE YOUR TAXES, WE WILL RAISE THE OTHER GUY’S TAXES. THE PROBLEM WITH THESE PLANS IS EVENTUALLY, IT ALWAYS STARTS OUT THAT WAY. THE INCOME TAX WAS ONLY GOING TO BE ON THE WEALTHY. THESE TAXES ARE ONLY GOING TO BE ON WEALTHY PEOPLE. BEFORE YOU KNOW IT, IF YOU OWN A NICE HOME, YOU OWN A CAR, YOU HAVE SAVINGS FOR RETIREMENT, BEFORE YOU KNOW IT, THE WEALTH TAXES WILL CATCH YOU AS WELL. THEIR APPETITE TO SPEND IS SO LARGE THEY CAN’T JUST TAX BILLIONAIRES AND MILLIONAIRES. THEY WILL TAX EVERYDAY WORKING PEOPLE AS WELL. PEOPLE ARE RIGHT TO BE WORRIED ABOUT THESE TAX THE WEALTH SCHEMES AND CRAZY SPENDING SCHEMES. THEY ARE TALKING ABOUT TENS OF TRILLIONS OF DOLLARS IN NEW SPENDING BUT I ALSO THINK BE CAREFUL WHAT YOU WISH FOR. I THINK ELIZABETH WARREN WOULD BE EASY TO BEAT BUT THE THOUGHT OF HER AS PRESIDENT ABSOLUTELY TERRIFIES ME. NEIL: MAYBE THAT’S PANNING OUT HERE. THAT’S JUST A GUESS ON THE PART OF ART CASHIN, WHO IS AN INSTITUTION ON WALL STREET AND HEARING HIS THOUGHTS, THEY’RE LISTENING. BUT LET ME STEP BACK AND GET YOUR VIEW OF WHAT’S GOING ON WITH THE ECONOMY. LET’S TAKE THE LEAP HERE THAT A MANUFACTURING SLOWDOWN THAT’S TAKEN HOLD, THEN YOU WORRY THAT IT SORT OF CROSSES THE ROAD AND GETS INTO THE SERVICES SECTOR, A FAR BIGGER PART OF OUR ECONOMY. THEN THE PRESIDENT’S RATIONALE FOR RE-ELECTING HIM, STRONG ECONOMIC TURNAROUND, PICKUP IN JOBS, ALL OF WHICH, YOU KNOW, WE ARE GOING TO GIVE BLAME TO THE PRESIDENT IF IT WEREN’T SO GOOD, WE MIGHT AS WELL CREDIT WHEN IT IS, ALL THAT GOES AWAY OR POTENTIALLY GOES AWAY. ARE YOU WORRIED?>>WELL, LOOK, THERE IS CERTAINLY A LOT OF UNCERTAINTY AND YOU HAVE BEEN TALKING ABOUT IT ON YOUR SHOW. YOU THINK ABOUT THE FACT CONGRESS HASN’T RATIFIED THE CONGRESSIONAL — THE NEW TRADE DEAL WITH CANADA AND MEXICO, YOU TALK ABOUT THE UNCERTAINTY ABOUT IMPEACHMENT, THE SLOWDOWN ABOUT WHAT’S NOT HAPPENING IN CONGRESS, YOU TALK ABOUT SO MANY OF THE OTHER THINGS. I THINK ONE OF THE FACTORS YOU MENTIONED WHICH IS ABSOLUTELY TRUE, THE GM STRIKE AND SO MANY OTHER THINGS ARE HAPPENING, ONE OF THE THINGS YOU MENTIONED IS ABSOLUTELY TRUE. LOOK, I THINK THE TRADE WAR, THE TARIFFS ARE HAVING AN IMPACT. I GIVE TRUMP CREDIT FOR TAKING ON CHINA. I THINK IT’S LONG OVERDUE. I THINK IT COULD ACTUALLY BE POLITICALLY PAINFUL. IT’S NOT CLEAR YET WHETHER THIS IS GOING TO BE A POLITICAL WINNER OR LOSER. I DO THINK IT’S THE RIGHT THING TO DO. THE REASON I THINK IT COULD HAVE NEGATIVE CONSEQUENCES, THERE MAY BE SHORT-TERM PAIN TO GET THE LONG-TERM BENEFITS. PREVIOUS PRESIDENTS SHOULD HAVE TAKEN ON THIS CHALLENGE. THEY DIDN’T DO IT. TO HIS CREDIT, TRUMP IS DOING IT. HE HASN’T BACKED DOWN AND MY HOPE IS WE WILL GET REAL RESTRUCTURING OUT OF IT. NOT SOME KIND OF TEMPORARY TRUCE, WHERE THEY AGREE TO BUY MORE AGRICULTURAL PRODUCTS AND WE GO AWAY. BUT RATHER, REAL STRUCTURAL REFORM WHERE THEY RESPECT OUR INTELLECTUAL PROPERTY, THEY STOP MANIPULATING THE CURRENCY AND WE HAVE A LEVEL PLAYING FIELD FOR AMERICAN COMPANIES WHEN COMES TO OWNERSHIP OF ASSETS OVER THERE AND OTHER ISSUES AT STAKE. I THINK YOU’RE RIGHT, I THINK TRADE IS HAVING ACTUALLY A GREATER IMPACT THAN PERHAPS PEOPLE ARE REALIZING BUT I DO THINK HE DESERVES CREDIT FOR TAKING ON THIS FIGHT EVEN IF THEY ARE SHORT-TERM CONSEQUENCES. THIS FIGHT WAS LONG OVERDUE. NEIL: ALL RIGHT. THANK YOU VERY, VERY MUCH.

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