In his talking points memo last night, Bill O’Reilly outlined his own plan to fix the economy in order to kill the nanny state.
O’Reilly called Obama’s plan to reduce the debt by $4 trillion over 12 years “not nearly enough” and called his plan for term tax reform “code for tax the rich.” O’Reilly did acknowledge that 60% of Americans polled are in favour of that, but also pointed out that taxing the rich alone would not solve the problem.
So how would O’Reilly fix the current budget crisis?
Go back to 2008 spending levels and reform the tax system so that the richest Americans pay 35% but with fewer deductions. Then put a small sales tax on everything “except food, medicine and medical care.” Then allow seniors to choose private insurance and raise the age for social security.
“If those items were passed by the pinheads in Washington, our debt would come down fast, world confidence in the American economy and dollar would soar, and the nanny state would be doomed. All good things.”