Rick Santelli on Taxing Unrealized Profits: ‘Bank Robbers Rob Banks Because That’s Where the Money Is’

EXCERPT:

SANTELLI: “Bank robbers rob banks because that’s where the money is. It’s a fait accompli. We're now so far in the hole, almost $2 trillion this year, if you look at all the numbers, they have to find money somewhere. Discretionary spending, that slice of the pie is so small, you need a microscope to see it. You can’t cut your way to prosperity there. So they have to get the money from somewhere. I look at all the piles of money that they’re probably considering. Just think about if you’re a baby boomer. You know, they have an audit trail of your retirement money that’s a mile long. There’s some money they’ll try to get their hands on as well. Spending by the government over what they take in is a tax. It’s already a tax! So I don’t know how we’re going to pay for any of this stuff. But to think that we could push off the government trying to get more money from us, that’s a lost cause already. They’ve already spent into that dimension.