Hollande and Obama: How do their policies stack up?
Are their similarities between two leaders?
- Duration 7:51
- Date May 7, 2012
Are their similarities between two leaders?
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A President Obama quick to congratulate France's president elect -- swap along.
He invited him to the White House ahead of the G-8 economic summit at camp Camp David later this month.
Already some economists and some political commentators are pointing out these two men do have some similar approaches to the economy.
For example both leaders favor massive stimulus programs they both oppose austerity programs and aggressive budget cutting.
Both leaders want to increase the top tax rates on their citizens and one more thing that may be making some investors squirm.
The leaders of France in the United States are both proposing a special tax on banks.
Joining -- now to discuss it -- -- Former assistant to president George W.
Bush and Dick -- -- it chairman of south Carolina's Democratic Party are guys so.
You know that this according to dead.
Into the brain our brain room and also Bloomberg get a report on and many of these things these are some similarities between -- and that doesn't mean that you know.
Bit -- have a uniform approach across the board.
But Brad what does it tell you.
Well maybe Obama's gonna be start speaking French to -- soon.
Look make it.
What does what works in France doesn't work for the for America it's not going to work in France at all because it's not big government that they need it's not soaking the rich which is exactly.
The prescription of Barack Obama has told us he wants to run on.
It's the power of the individual and we're not like France we don't wanna be like France we don't wanna be like Greece or -- that matter any other country.
In Europe we want to be Americans we wanna be what we are and that is what we -- country.
Where government should be subservient to -- people government should only do for the people that which we can't do for ourselves and nothing more.
And I think that Obama has a playmate for a couple months with a French new president but Americans will reject that type of policy.
Is it is it damaging -- to the president to have.
People drawing that association.
Because I mean I listen you can argue that these policies but I think most Americans.
Don't find it shocking and horrifying to -- -- retirement age go from.
You know sixty to 62 but this say this president elect did he wanted to go back down from 62 to sixty that's -- -- Barack Obama has said but does he get tarred with that.
Well I think that the comparisons are part skewed and I point out that that that.
That if France is -- as you said and and thank god.
We don't live in France with a different.
Different government different attitude.
Arm and I don't think the American people would buy with with this -- talking about there are some similarities in how you get out of the economic.
Problems we area -- there and you can take two different approaches in England they took a very tough conservative government approach and cut budgets slashed spending.
And they're now in two they're double dip recession caused by.
Massive layoffs of government employees so that may not work either I think the moderate sort of middle road approach -- Obama's taken.
Combined with a rational tax policy that's -- that's that's based on.
Helping reduce the deficit and he's proposed.
Massive cuts in government and increasing.
Retirement age for Social Security for people think 55 or younger so you know.
It's it's Eaton who you know we both feet.
I guess the people in this country the -- today and and drank champagne.
You know I don't think that Democrats friends out -- -- hey hey -- go to one of those lobby meetings up there on -- street.
But that were -- -- hobby well read if you let it be packed day in Champaign.
Yes he does Brad and it is this could -- some risk in this comparison.
For the Republicans because what the sky.
Takes over France implements a socialist policies and they do what all and the rejection of the austerity years turns out to be a boon for France.
Well I always thought to be able to help Obama -- Obama won't be president this -- -- -- and elect a president who's good who's going to.
I -- didn't learn on the job.
And Barack Obama is our president he stands for election just a few months so -- Did the basic theory behind the French president's path to prosperity.
Doesn't work it's not gonna work today it has -- worked in the past soaking the rich.
And and relying on government from cradle to grave is not.
A good prescription what -- us in America -- We need to do was get government out of our way unleash the power creativity ingenuity of the individual.
And you'll see this -- this to our country take off again.
It's not the government taking money from the people of spending -- themselves it's people spending their -- money you know getting a reasonable rate of taxes which.
Ever -- is goes -- it is likely to be raised by one party or the other in some debate some.
On the trail comment right if if this guy turns you know -- socialist and it doesn't work.
-- he's gonna capitalize on -- and say that's what President Obama wants for us and if it's the reverse president Obama's gonna say they raise taxes 75%.
On the top earners in France didn't work out too badly over there so it to some extent it will affect what's happening and we are just to politically will watch it.
I would agree with Brad however there's really not enough time but that you know Brad you need to look at Mitt Romney -- governor of Massachusetts big government Obama care before obamacare was popular.
Tax the rich.
Increase the size of government low low job creation rate that's what this does -- that's what this race is going to be about.
Not what happens in gate Harry it's going to be what happened in Massachusetts.
I would care Brad is it does anyone here care when they see that you know that topping -- murders in France -- they're about to pay 75%.
In taxes to the point -- now.
Some according to steal and the online reports -- talk about moving to England.
Because they don't want it pays -- 5% of taxes does anybody here -- watch that care about politically in connection with -- I think they will care when the comparisons are made between what the French.
Prescription is for success and what Obama is they're very very close.
He doesn't want 35 -- he wants to raise top tax rate to 39 point 6%.
He does but it it's a matter of degree and it's a matter of intent.
With this president wants to soak the rich he believes that the -- the -- of economic works if you just take from the rich and get to the -- there aren't enough -- -- -- took a 100% of their income.
What you need to do -- unleash the power of the individual -- Bill Clinton said there's a trillion dollars sitting on the sidelines because people don't have confidence and there's no surety in our laws whether it's our tax laws.
Or business laws so if we were able to do that I think would get out of our message that the government.
Telling us what to do -- what do.
One of the arguments against soaking the rich has -- that they'll -- that that -- they're not gonna wanna sit around and be soaked especially if they don't have all the loopholes that they used to have when they were paying those rates.
Decades ago what don't leave France I mean.
It's not an activity leave their home country their native country Ingle live across the -- dollar across the pond.
We -- they don't leave it to start paying and we see some improvement in France's economy but.
You know I think you've been perhaps may see again I don't think it's gonna it's we'll see in this cycle but let me remind you all of us and less -- akin to Sitting Bull came here.
Because -- -- -- might even referring to.
Pat -- that's at probably got the latest running for senate matchup for -- came here because of we didn't like what was going on at home a -- and water.
France -- or Germany or or wherever Russia.
Police French folks that think you -- -- too much to give you 39% tax rate here come home.
I think you're not gonna miss Carla Bruni.
Oh we -- -- the trust me we are at now at.
I think she's in a couple movies.
Woody Allen putter you'll tells you actually great will be seeing her but not -- so much and that doesn't -- Arctic ice the or -- things up -- with that but.