Here are some of the choice excerpts (full transcript is here):
One of our big problems right now, and like I said, I'm not politically correct, so I'm sorry, but you know - our deficit is a big problem. Think about it. And our National Debt - $16.5 Trillion dollars - you think that's not a lot of money? I'll tell you what! Count one number per second, which you can't even do because once you get to a thousand it will take you longer than a second, but...one number per second. You know how long it would take you to count to 16 Trillion? 507,000 years - more than a half a million years to get there. We have to deal with this.
Here's a parable: A family falls on hard times. Dad loses his job or is demoted to part time work. He has 5 children. He comes to the 5 children, he says we're going to have to reduce your allowance. Well, they're not happy about it but - he says, except for John and Susan. They're, they're special. They get to keep their allowance. In fact, we'll give them more. How do you think that's going to go down? Not too well. Same thing happens. Enough said.
What about our taxation system? So complex there is no one who can possibly comply with every jot and tittle of our tax system. If I wanted to get you, I could get you on a tax issue. That doesn't make any sense. What we need to do is come up with something that is simple.
When I pick up my Bible, you know what I see? I see the fairest individual in the Universe, God, and he's given us a system. It's called tithe. Now we don't necessarily have to do it 10% but it's principle. He didn't say, if your crops fail, don't give me any tithes. He didn't say, if you have a bumper crop, give me triple tithes. So there must be something inherently fair about proportionality. You make $10 Billion dollars you put in a Billion. You make $10 you put in $1 - of course, you gotta get rid of the loopholes, but now now some people say, that's not fair because it doesn't hurt the guy who made $10 Billion dollars as much as the guy who made $10. Where does it say you have to hurt the guy. He's just put in a billion in the pot. We don't need to hurt him.
It's that kind of thinking - it's that kind of thinking that has resulted in 602 banks in the Cayman Islands. That money needs to be back here, building our infrastructure and creating jobs - and we're smart enough - we're smart enough to figure out how to do that.