Also in this playlist...
This transcript is automatically generated
Hoping this because of its simplicity and clarity perhaps.
That Republicans this time will.
Heed the call of their constituents.
Read the polls at least as I hear they sometimes do and act accordingly because it's it's it's a matter of basic fairness and it's and it makes economic sense.
-- was white house Press Secretary Jay Carney briefing reporters yesterday.
And explaining why.
Instituting a 30% minimum tax -- for millionaires was a matter of fairness and this is our life in Internet we've seen all week.
The president has been president and his team have been pushing very hard for what they call the Buffett rule which is a mandatory minimum tax.
-- for those who make more than a million dollars -- 30% so that they cannot.
Hey on investment rates they cannot and investment raise taxes of 15%.
It's something the president has -- it.
For some time but they're making it a central part of their campaign pitch as they put Republican presumptive Republican nominee.
Mitt Romney a pretty rich viewed himself in the cross hairs.
Will talk about that.
-- you'll also talk about.
And I know you wanna talk about this happen and I'm going to -- and we're gonna talk about it Romney and Hillary Rosen.
And leave the back and forth these two -- over the war on women as accusations fly back and forth.
And later we will also talk about some things really -- will be joined by a Smart reporter to talk about the way energy issues are gonna factor into this year's election this is going to be probably.
The most astonishing thirty minutes of political Internet television in -- so brace yourself some.
Helping us get this this cavalcade started our two friends of yours Internet you know Simon Rosenberg he's a director of the new democratic network he's a former.
Clinton Campaign advisor.
He's on the blue team he's a good dude and -- -- men who you know and love.
And that he is an advisor to both president -- -- He is a Republican strategist and he -- young minds at Georgetown University -- so well welcome -- isn't welcome gentlemen.
And let's start with you Simon.
This is I'm a golfer.
And when you get up to the tee box you evaluating risk and reward.
And there's if you take a bigger club if you take out the driver and you try to clear the creek.
You can have a lot more reward but you bring a lot more hazards into play.
As the president and as his team have shifted to this discussion -- issues we've seen in -- of it for months starting with the and also watch -- speech that he gave in Kansas in the fall but they're moving into this that it is appropriate for rich people to pay more taxes.
Because they should pay more taxes because it's morally right thing to do as he does that doesn't he opens himself up to accusations from the red team that he is trying to spread the wealth.
I think Democrats have been -- progressive taxation for about a hundred years so you're on what you guys and I.
There is no question.
I think this is very consistent with -- our historical understanding of American tax system should work.
So no I don't think this is risky -- and I think this -- -- to.
How the Democrats in the world that if you make more money you should pay more minutes the basic theory of the progressive tax system.
Advancing knowledge meant that because of the way the tax system has been altered over the last thirty years.
The things have gotten out of -- where there's been under the you know there's no longer balance I think is the -- they're using from the White House.
And it really doesn't make a lot of sense for a guy like Romney.
Who makes tens of millions of dollars a year to be paying thirteen 14%.
-- a guy like Newt Gingrich for example.
Who during the campaign paid over 30% and had a 30% tax rate because the money he was making was money that he -- and so I think the basic issue -- The Democrats in the tax system's gotten out of -- we got to fix that this is their proposal and by the way it's -- overwhelming support from the American people in addition to being sort of common sense.
Now Brad the president has been very adept.
Throughout really since 2008 when he got is fingers burned with Joe The Plumber -- -- sort of moment.
He's been very -- And avoiding the label the tax and spend label that Republicans.
Invariably try to attach two Democrats especially from the liberal side of that party.
And the way he's done that.
Is to cast things as choices he -- shouldn't permit Iraq to boil it down to to recruit reduction -- -- -- shouldn't Mitt Romney be paying more taxes so that we can afford to pay our teachers.
Shouldn't Exxon and B giving up its tax loopholes so that we can afford to give money to invest in solar energy and he's always been very careful to couple these things up not just to say.
We should do because it's a matter it's a moral issue with fairness issue that it should be that way it does is over that.
-- for you guys absolutely and we're gonna drive straight through that.
-- of Barack Obama is a multi millionaire the guy.
Network today is like any good network of ten million dollars he's only help close -- Enron doesn't work today in and -- I ever held a private sector job he got elected he built his wealth on his public -- you'll get a lot more lower monthly yeah that's not where he made his real money -- And so.
It's a matter -- relativity as -- the amount of -- and our president is a multi millionaire OK and did you read no question it wasn't the rich.
Who spent -- into the ditch.
It was that government -- never got the rich have to now pay for the mistakes of the government little -- stays in power the private sector to people who create the well.
To create more jobs.
Pay more taxes the better all they get the better off we yet they -- -- government's job to stop the spending not.
Take from the wealthy and have this problem theory of economics that somehow if we just take from the rich we get taxed at a 100% -- in -- and we can get.
Their -- and it's something we're gonna hear from the Obama campaign and Democrats in general.
Not just about.
Mitt Romney and by the way we'll hear today from Joseph Biden they've they've put out excerpts from the speech in which he says that mom Romney and other rich dudes are trying to make shoppers.
Out of the middle class they're trying to take advantage of these -- that we have this -- are now.
Where it establishes an unfair and Democrats seem to establish unfair premise for Romney's well.
At what point do we start to see the same argument that Newt Gingrich brought out during the Republican primary which is that even the core of Romney's wealth.
Was made on the backs.
Putting people out of jobs.
I don't I don't know about that but I will say that.
You know if you just go back over the last twenty years.
Bill Clinton raise taxes on rich people and we had the biggest economic boom in American history and we went from deficits to surpluses.
We try -- the Republican strategy under bush where we cut taxes and deregulated and we -- the worst economic performance is a Great Recession so this notion that inherently.
By cutting taxes and over the last twenty years in fact he was a period when we have.
-- wealthy people that we saw the greatest economic boom in history so what are people scared of him I mean this is very distinctive isn't it -- -- I had -- good okay.
Last year said there's a trillion dollars in -- the people sitting on.
Because they're afraid they don't have certainty the future they don't have certainty taxation they're afraid.
Making an investment they'll actually come back to hurt them in taxation and regulation so what I suggest is.
Do what Bill Clinton said.
Start cutting -- start cutting spending give certainty to the marketplace Bill Clinton now says we should keep the tax rate.
As it is and we should incentivize people by cutting capital gains getting rid of the death tax.
And let's have 88 period an economic prosperity borne by the private sector and not people paying into the government who think you're responsible with the people's money and unleash the creativity and ingenuity that is out there there's a trillion dollars sitting on the -- you.
Did you Google are taking us into policy and you know we know that's.
We Augusta you're not engaged in our that's all anybody.
I just kinda tell that that's gonna win the health care and says -- -- back -- believe all this I'm kinda stuff behind Simon backed back to this question though about making Romney.
The fall guy that -- and it's pretty clear that from the democratic messaging and what we've seen whether it Shamus the dog or whatever else.
There is this effort is building about Romney.
Eight -- sort of a villainous character of this guy who is nice touch he's out I just needed people he threw people out of work he outsource jobs.
How much of that is predicated on this tax argument where we can hear less of the tax argument going forward and more -- out.
The Romney the -- capitals.
I would be surprised if we end up where you're saying yeah about the cruel catalyst -- I don't think I don't think Democrats and I don't think the American people are jealous of people who are wealthy and I don't think that that's.
The issue I don't think there is class and in the United States I think if the middle class of the last ten years.
And had their incomes go up the way that wealthy people and we wouldn't even be having this conversation right now because what's happened within equality is not only the wealthy gotten wealthier.
The middle class as -- time.
Right and that's created this new political and and dynamic that didn't exist -- here thirty years ago but I will say that I think what I am Romney's greatest vulnerabilities this conversation.
This is -- and that he's refusing to release his tax returns.
And that he did put money overseas in accounts that we don't really know why -- were there and I think that.
He's gonna I believe that he knew he cannot become president and I State's blessing releases at least ten to fifteen years tax returns -- quickly in order yeah nonsense yeah.
Stack returns he really want here.
Think he's released no there's tax returns.
Do you have a credible understanding of the American people as to what -- well -- you guys wanna pick it apart and make and make assumptions.
Based on things that you have no knowledge of and put him in -- seat and make him defend.
-- -- clearly he -- 35 accounts off of his forehead.
I always do which means that he lied we have any money we have many yards we have many months to sort out Mitt Romney's tax returns I'm sure that the -- will recur and I'm like someone look when we come back Internet.
Filter by section