Cavuto: Tax System Is Not Fair

Tax debate is progressing toward insanity

NEIL CAVUTO, HOST OF “YOUR WORLD”: At the start of this show, I tried to burst ten popular myths on this whole debt mess.

...that we're not on the verge of default, just missing a deadline...

That no one party is holding this process hostage. Business as usual in Washington is.

That sort of stuff.

But there is an 11th myth I left out.

And perhaps it's the most important one.

The myth that we need more revenues, more taxes...

That as New York Democratic Congressman Eliot Engel put it to me last weekend, it is only fair.

...that those who can pay more taxes, "do" pay more taxes, and "should" pay more taxes.

Now, leaving aside the rich already pay a lot in taxes, what about the more than half American households that do "not" pay "any" taxes...at all? It’s true.

Is that fair?

And even if it is, is it fair that anyone...rich or poor or anywhere in between....

Pay more for essentially, a crappy product?

And is it fair if they do pay more for this crappy product...

That more than half the people in this country do not?

Now you tell me, is "that" fair?

Is "that" right?

No.

Look, I'm all for a progressive tax rate. Well, kinda. But this is progressing toward insanity.

Look, I’m not saying the truly poor should pay taxes.

But you cannot tell me more than half American households not paying taxes are truly poor.

Because to change this game, my friends, "everyone" or darn close to everyone should have skin in the game.

You can't keep skinning the rich.

Or you’re going to lose the rich.

And pretty soon, you'll lose the country.

Because it's the biggest myth of all to say that the rich have to pay their fair share...

When you ignore half the folks in this country who aren't paying anything at all.

We're on the brink, not because politicians are holding taxpayers’ hostage

They’re holding something else hostage.

The truth.