tv Interview with Peter Ferrara CSPAN May 21, 2016 6:48pm-7:01pm EDT
and aol cofounder, steve casey told us how emerging technology is reshaping the internet. in the coming weeks and afterwards, tamara drought will talk about america's new working-class and their potential political power. senate majority leader mitchell, will discuss how his political philosophy has informed his time in the senate. also coming up, senator barbara boxer california will look back on her life in korean politics. this weekend, chuck a single ways in a criminal justice reform and recalls his 19 years in prison. >> what i tried to understand my rights and wrongs this is book is not mechanics uses for the decisions i made. it's about explaining explaining what is happening to so many young men and women that communities don't talk about child abuse, sexual abuse, substance abuse, and things that lead to us taking the path that we take. so i want to be clear that this is not about making excuses and like my mother thought i was
making excuses and don't blame her, ultimately as as i pulled the trigger that night. >> afterwards airs sunday 9:00 p.m. eastern. you can watch previous afterwards program on our website, book to be.org. >> peter fridays and book is called power to the people, mr. barrera, is it possible to reform the entitlement programs? >> guess only the way described in this book, these reforms were up positive, the book is about how to reform every program, social security, welfare, obama care, medicare, medicaid, all of this, how to reform them all. it's based on 30 years experience based on the reagan white house. heritage, i contributed and this
is an extension to all these ideas. after you reform social security people they get higher benefits now or benefits. poor people get higher incomes that lower incomes. sick people are able to get better healthcare not less health care, that is because these reforms are not based on cutting benefits. you cannot get anywhere by cutting benefits, these reforms are based on fundamental structural reform. changing the way these programs operate so that they contribute to the economy, they make the dependence and beneficial able to become self-sufficient and self financed. so a lot of the government spending in these taxes and the recent programs are shifted off of the budget altogether into the private capital market, so instead of working people today,
we spend 1,000,000,000,000 dollars per year in taxes, taxpayers are taxed at 1,000,000,000,000 dollars per year basically to pay the bottom 20% of the income. that's very unproductive, counterproductive and therefore we have a declining participation rate and it accelerated under obama. all of these programs have been expanded. so when he pay people not to work you are detracting from the economy, not helping it. when reforms and and empowering workers to choose personal savings and investment to finance their future social security benefits rather than tax or redistribution which is all that social security is. you get far higher benefits from a lifetime of savings investment then a lifetime of no savings investment. there's no savings investment anywhere for social security. people are participating in the program lose the benefit of that accumulating return.
when asked elbert einstein of the atomic bomb which is most powerful force in the universe he said compound interest. and this was more powerful than the atomic bomb. this is why you'll have middle-class couples able to retire as millionaires if they are able to take what they and their employers otherwise been to social security into a lifetime in savings investment and get the key militant compound interest, over their entire careers and even into their retirement. all that money continues to work for you even after you retire. so now you have something working on your side. that is why these reforms can be popular, and populous even. they would all be provence because all that is in capital contributes to the economy, all the people who are not working today would be contributing to the economy. this is a prescription for
renewed economic prosperity for the entire country. >> what about the risk factor? when your little older sometimes people are not as willing to be risky with their money. >> it doesn't require you to be risky for with your money. you can make your own choices with this money, but you're still backed up by safety net. because when i sat down with paul ryan who wrote the legislation for that part of the reform in 2000 five, that became became the foundation of the ryan roadmap. that provided that it would be backed up by federal guarantee that you would not get lesson promised by by social security. so you can gain but you cannot lose by making this choice. on that basis the chief factor of social security said these personal accounts are so obviously a good deal that he would assume that 100% of workers would choose the personal accounts because they are so obviously a better deal than social security. this is the lifetime career, the
career numbers guide for social security. that's what he wrote in the rhyme bill, it still posted at the social security ministration website for that can still be found. we're hoping to generate new legislation that will provide for the, that will rally people around the country. yes give them power over our own money. that's what this what this does. that's what's called power to the people. it gives you the choice and control over your own money. just like the reforms facing obama care is discussed in the book, power and control of your own health care just like the reform of reforming welfare in the book, it gives you the ability to become self-sufficient, to produce your own support and so again, the power to the people. >> and peter, does your approach, in your view reduce america's debt? >> yes, this is the path for paying off the national debt because that's the other part of this, you see after all of this advantages there's reform. this
is the kicker that is left out. after generations, settles bending of the gdp is less than half of what it would be otherwise. if you people are paying for smaller government they want reduces federal spending this book will expand how to do it. it's the only way. it's the only way to reform retirement and to make government smaller. as described described in this book, it's not a long book. but once you get the idea you see how it applies everywhere. these are all ideas that are proven to work in the new world. they've all been tried elsewhere around the world and have been proven to work spectacularly. so let's do more of it. >> host: what is the heartland institute? >> guest: the heart land is it promotes what the book is, the power to the people, and growth for everybody. this this book is one of the most vulnerable, we wanted to spread, for seniors
who are living under retirement, sick people we want all of this prosperity, this this is a roadmap for spreading that prosperitythat's why the subtitle is the new road to freedom and prosperity for the poor, and those most in need of healthcare. that's what it it is. a new road to freedom and prosperity. >> host: is obama care so-called "care isn't that a free market approach to healthcare? >> guest: no, it's a government approach. government is controlling everything in obama care. it takes away power to the people and gives power to the bureaucrats. the government tells you what insurance you must buy. bureaucrats in washington tell you what must be covered, the government tells insurance companies what they must do. it it tells employers what insurance they must buy for you. it's government making decisions. that's even more that in the future.
so obama care is not a free market system, that is misleading for people who are gullible and easily misled. it's calculated deception i call it. obama's approach is the opposite a power to the people. because they think they are smarter than everybody. they're more moral than everybody. so they kinda rediscovered the old rationale centuries ago. we're the smartest people, or the more people, we know it needs to be done. you guys just shut up and do what we tell you. and that's what you get with from the obama administration. >> host: the george w. bush administration attempted a social security reform but it got shut down quickly, why? >> it didn't get shut down, he backed he backed off. he never proposed his plan. he won the election with that, heaving carried florida so when
they ran for president they use these formula exactly as i described it. it works spectacular. then once they got elected, they picked people inside washington to implement the people inside washington said are you nuts, we cannot do this. we. we cannot shift power to the people, we're going to give up this power we do that. we we have that power in washington. so that is what happened. you hear bernie sanders power to the people of power to the bureaucrats. this is this is a real class struggle that is going to. >> host: entitlement, reform that's the topics of power to the people. peter, thank you for coming. this is book tv on c-span2. >> here's a look at some of the current best-selling nonfiction
books according to the new york times. topping the list, cnn host anderson cooper, and his mother gloria vanderbilt discuss their lives in, the rainbow comes and goes. in, grids, psychologist andrea explains that persistence rather than geniuses a better predictors success. next next on the list is "hamilton", it is followed by 60 minutes correspondent leslie's role on the baby boomers have taken in becoming grandma. in breath becomes air the late neurosurgeon recount saving mortality. >> ..