President to push 'fairness' in SOTU address
Should the focus be on something else?
- Duration 7:06
- Date Jan 24, 2012
Should the focus be on something else?
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Back now to our top story and president Obama's new economic push.
In his State of the Union Address tonight.
The White House says the speech is all about economic fairness but the latest Gallup poll shows us why the president may be overlooking the most important issue to voters.
According to Gallup.
Only 2% of voters care about the gap between the rich in the -- look at that.
On the other hand say jobs the deficit and economic decline.
Are -- mean concern.
Joining me now discuss it Leslie Marshall -- syndicated radio talk show host and a Fox News contributor.
And Jason Lewis columnist for the star Tribune and author of power divided.
Is power checked.
A -- -- so this is interesting because this is a message we've heard repeatedly from the -- protesters to the White House Leslie they have been talking about.
Wealth inequality income inequality.
And -- -- latest Gallup poll shows only 2%.
Of those surveyed thought this was an issue at all and now the president's -- devote the state of the union to that is a main theme is he making a misstep.
No although it's a main theme it's not the only thing he's talking about he's going to talk about.
The job creation through renewable energy that be clean Green jobs is -- talk about job growth -- we have tax reform.
What he needs to present the American people the majority of those 51 2% that say jobs -- their concern and the majority of voters.
Are the middle class.
Are the working class he as a president -- for the past four years but hoping for himself and we Democrats for the next four is basically saying.
This is where rat this is where I've taken -- thus far -- this is where we want to know the other guys nobody other than the other guys.
What's new uses this focus I mean this is not a throw away is focused on economic fairness everything it but -- is that this is gonna be a mean -- This is a main theme of tonight's address according to those who are helping him -- that.
And they talk about how it's going to be a populist cry for economic.
What does that mean Jason I mean obviously he's -- -- my job and so on but the economic fairness what does it mean and is it -- -- definitely 2% of the American public.
Thinks it's an issue.
Well maybe it means that the top 1% of income earners in this country shouldn't be paying 40% of the taxes.
Or that the top effective tax rate for the top 1% is 31 point 2% according to the CBO while the bottom 20% effective rate is four point 3%.
Now nobody's arguing to raise taxes on.
Lower income people but what people really want is economic growth the rising tide they don't care what other people -- There's only one reason the Democrats are so obsessed with other people's money and that is they want to take it.
-- most people look up to a guy like Steve Jobs no matter how rich he has and realize you know what that's what I -- to aspire to so this is the fundamental dichotomy in this campaign and don't kid yourself.
Democrats were were surrounding Occupy Wall Street with support.
This is going to be has it usually is one of their pillars in the campaign this whole notion of the politics of envy and it's sad to see in this day and age let's.
It's a pay really going to be taking -- and senator stage tonight Leslie because -- we we now know that he's going to be having Warren Buffett's secretary.
And we held -- you know saying she pays a higher tax rate and -- Buffett does is he pays capital gains tax rate of fifteen -- -- -- on their income tax which is higher guest.
NN the you know the box with that would the First Lady so he's I was gonna make an issue that is but let me ask you what what will the president go with that message -- got to translate that into.
It's not fair secretary pays lower rate than Warren Buffett.
And so this is what I'd like to do what do you finish that sentence -- President Obama.
When you're running for reelection and the two top guys right now Mitt Romney who pays approximately fifteen.
-- In taxes which is.
Below what a lot of Americans pay like the Warren Buffett the secretary.
Example and when you have Newt Gingrich who benefited personally financially.
Almost two million dollars from Freddie Mac with so many Americans lost their homes as a result of of that very entity.
The bottom line is the American people need to say look.
I wanna stick with this guy Al be it slow that we have economic growth and the unemployment rate is going down -- -- -- -- vote for the other guys won the backs of job -- -- jobs sent an outsourced overseas.
Had personal growth.
And quick wit the bush tax credits still did not create jobs and still does not stimulate the economy he needs to point -- -- -- -- -- -- Play on -- I'm not gonna sit here and defend -- but the president's support secondary mortgage backing to Freddie Mac and Fannie Mae.
But when it comes to Iran he's 15% or -- 17% the bottom 51% of income earners in this country have no federal income tax liability whatsoever.
And Warren Buffett deliberately rearranged his salary to keep it around a 100000 dollars so that would be is taxable income and take the rest in capital gains now he's so concerned about paying more in revenue.
Why did he rearranged his see his particular income so most about would be in dividends and capital gains that seems to be it could be a little bit hypocritical here.
While our resident that you raise the issue of -- -- is corporate tax rate that is about 15% now we've seen in the tax returns.
And if that's where the president is going with this you know that that's not fair that he paid 15% in the secretary of Warren Buffett paid a higher rate.
Who was to blame -- that mean you you seem to be blaming Mitt Romney but.
If you had capital gains -- and you could pay the 15% tax on that will what did you do it -- -- -- but it's the law that is set up that way for him as.
-- Yeah maybe this isn't about blaming the person does know I'm not blaming Mitt Romney -- not -- Ronnie did what he did by the way Newt Gingrich wants eliminate capital gains -- -- would have 0%.
But that the bottom line is that Americans left and right want tax reform.
But the Republicans aren't working with the Democrats to get this done for the American people which could lead to job growth which the president will point out tonight.
And that's where there is that divide between you want to stick with me and here's where I want to go out.
Are you wanna go would that would those guys.
And again he is going to have some conciliatory tone as he sat in the past.
Although the very political in nature and an election year this is -- governing speech a state of the union speech and he needs to point that out -- although the president may not be that popular.
Congress is certainly less popular -- -- less work.
How -- Leslie a 17%.
Flat income tax rate along with a 17% capital gains rate.
So there is no -- exception the right across the board for everybody.
-- -- you'll you won't sign on to that the president won't sign on to that what they rarely want is to try to soak the wealthy those who are very successful.
And America you shouldn't have to apologize for your success nor be punished for -- You know what you you -- I had a good point because that picks up you just teased or 230 segment beautifully with software -- the panel before the show about exactly that why do it again -- -- and I -- -- not apologizing for -- -- -- -- -- that discussing continued stay tuned right here about forty minutes and it out they give us so much Leslie Jason season.