I think you are not going to get even close to the revenue you think you are going to get, because you are going to create a huge disincentive for work.

We have got to solve a problem. The trouble is there is no Reagans or Tip O'Neills in Washington right now.

You are going to pay in. We are going to save this money for you, and then you are going to pay it out in retirement.

You are going to pay in. We are going to save this money for you, and then you are going to pay it out in retirement.

This would literally turn at least a good chunk of Social Security into more of a general welfare program.

At what point do you raise marginal tax rates up to the point where you literally harm economic growth?

the solution here is to really kind of break with the original concept of this being a you pay into the system and you get what you pull out.

the top one percent taxpayers pays more than 40 percent of the total income tax burden.

the solution here is to really kind of break with the original concept of this being a you pay into the system and you get what you pull out.

It was never intended as a welfare program; correct?

the Chairman's solution to this is tax the wealthy.

anybody who has just hit like $100,000, I mean the maximum. What is the maximum amount of earnings right now subject to the tax?

the maximum amount of earnings right now subject to the tax? $168,800, I do believe.

It was never intended as a welfare program; correct?

the Chairman's solution to this is tax the wealthy.

anybody who has just hit like $100,000, I mean the maximum. What is the maximum amount of earnings right now subject to the tax?

I would warn you trying to raise marginal tax rates to the extent you want to is going to really harm economic growth.

It was never intended as a welfare program; correct?

The trouble is there is no Reagans or Tip O'Neills in Washington right now.

We are going to create this Trust Fund, not invest real assets.

At what point do you raise marginal tax rates up to the point where you literally harm economic growth?

I think you are not going to get even close to the revenue you think you are going to get, because you are going to create a huge disincentive for work.

I would warn you trying to raise marginal tax rates to the extent you want to is going to really harm economic growth.

What he wants to do is increase people's taxes to basically about 57 percent.

It is literally more like you have a piece of paper that says $20 and you are saying I have got 20 bucks.