Detailed text transcripts for TV channel - MSNBC - 20111024:11:25:00
Off very low. it's not a 9-9-9 tax, it's a progressive tax. and then the rates get higher and higher the more you consume. and it gives you an incentive -- if you're wealthy, to put that money into a tax-sheltered investment account, which is what we need more of as you were pointing out in the earlier segment and spend less of it on building a bigger mansion. and the magic thing about the tax is that since it's relative mansion size that seems to matter beyond some point, if we all build smaller additions, nobody's worse off and those dollars go to more useful things. >> sounds like that may ...
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