PAUL: Persuade and get the people to agree, and the Congress to agree.
I think one thing, none of this would happen if you couldn't print money to pay the debt.
HANNITY: I agree with that.
PAUL: Everything would be balanced then. So -- but can I close down the Fed? Not as a president you can't. But you could lead the charge on this. I mean, we've been doing this for a couple of years.
HANNITY: I agree.
PAUL: And I think you agreed with our audit the Fed. And get -- so you have to keep pushing on it. But if we could get the people to agree that they have to quit printing money, and now we are going into the inflationary repercussions of this, all this printing of money in the last few years, I think we can get people to do that. And then you limit overall spending. And it would be more like saying, well, everybody has to cut 10 percent or--
HANNITY: Last question and I've got to let you go, 47 percent of Americans don't pay taxes. They think the tax system is fair. So when you have almost a voting majority that don't pay taxes, how dangerous is that?
PAUL: Well, that part isn't dangerous. I would like to increase that to 100 percent that don't pay taxes, and then shrink government big enough so we don't have to have an income tax. Most of our history, we didn't have an income tax.
HANNITY: What would you support in an alternative for government revenues for infrastructure and defense?
PAUL: Let it be through user fees, you know, gasoline taxes for your highways.
HANNITY: Fair tax, support it?
PAUL: Not really. It is better than what we have, slightly.
HANNITY: But it would be too high?
PAUL: Oh, it would be way too high, because -- but it would be great for the underground economy, 30 percent or something. Can you imagine, people go to the store, oh, I have to pay another 30 percent. There would be so much underground. That's what happens in the Soviet type systems, you know, the socialist systems, there is a big growth of the underground economy.
HANNITY: Are you going to tell your supporters not to throw snowballs at me next time?
PAUL: I'm going to advise them. I don't tell people what to do. You know, I say nonviolence and tolerance, that is the message.
HANNITY: All right. Congressman, it's really good to see you. Thank you for being with us.
PAUL: Sure thing.
HANNITY: Appreciate it.
Content and Programming Copyright 2011 Fox News Network, LLC. ALL RIGHTS RESERVED. Copyright 2011 CQ-Roll Call, Inc. All materials herein are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of CQ-Roll Call. You may not alter or remove any trademark, copyright or other notice from copies of the content.