Rep. Rangel: 'We have the best economy in the world'
New York congressman defends president's policies
- Duration 7:09
- Date Jun 12, 2012
New York congressman defends president's policies
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-- -- with the White House and damage control mode we continue to monitor in the many scandals that are now plaguing the administration the relentless stream bad news facing team Obama in recent days has led to.
New reports that indicate the president's message.
Is not only falling flat with independents his base is beginning to express doubts about his reelection chances as well joining me now on studio.
To discuss that and much more somebody who ultimately endorsed Barack Obama back in 2008 New York congressman.
Charles -- a year at this.
Why have you -- human dog -- believes you're afraid I was gonna beat you up on all the -- -- -- -- that's why have you not -- on the -- correct it is clear I haven't been invited you how absolutely false one or invited one of the first questions -- about -- you'd think you know gonna throw you -- -- you thought -- well -- have that you invited me because they put that do a lot of things showing and then changes if we always got along -- I.
Hey I think I think he made some bad decisions you admitted it and I that there are over and I'm not I have nothing nasty about it because -- ready and I know that.
You've you've never seen the runway for many shows John so I don't know why you bringing this -- I'm telling you my racquets and clear.
That you're popular show has not been requested because I enjoy being -- -- that this isn't a lot then this is an exchange of ideas and exchange of ideas and it's a well.
-- -- well I appreciate you being here welcome back look.
The President's Cup problems you that you are a big problems yes.
-- here's the question I want to ask you do you really your heart of hearts believe we are better off as a country with five trillion dollars in new debt.
Fifteen million more Americans on food stamps more Americans dependent on the government than ever before.
In this article that I pulled up earlier.
Which is that 40%.
Of people's wealthy American families well.
Is evaporated in the last three years are we better off.
If you take a look at the millions -- people want to get into this country.
I would like to believe that we are still the number one objective for people who who -- a better way of life.
This is the best country in the world we got the best economy in the world and it is -- -- not what we used to we shouldn't be the end.
And this solution to to all of this is just like in the family mile company.
If you spending too much you cutback in spending and you raise human being -- and that's well you -- -- -- -- when you say raise revenue you mean raise taxes.
Well you know that's a very very carefully greeted in question because I was not -- a simple basic a -- you know.
-- yes or no question what would you call it if we have a trillion dollars in the tax code now.
They should not be the -- preferential treatment that may be at the time the gun was gave it to them and executive signed it it was necessary.
But they Don -- making record profits and it shouldn't be there isn't wind isn't attempt to close these loopholes.
The majority in the house would say that's raising taxes -- it was technically in the reason I told -- was.
It is important and it's that slow and yeah -- for those people are getting.
Tax relief that they shouldn't get you a citizen or this hadn't when I had my state taxes.
My local taxes -- federal taxes my -- taxes my property taxes and and all the other hidden taxes I paid 55% of what I make goes to government.
In my overtaxed.
I just one do when you look kid forget about that you -- just prayed that if you could.
Somebody -- -- -- I have not had a great and we know you don't have to express and then the president hits me and other people over the head and says we're not paying our fair share I think I think that even 45 cents every dollar.
I think -- give away too much of the government do you want more children what you want to do much too polite because the questions -- handling it like you because.
If you don't like a president under this great democracy you -- know.
How well -- think I feel that that we would talking about -- is why can't we get to congress.
To release trying to cooperate where they like the president -- -- you can't President Obama got everything you wanted to Nancy Pelosi Harry Reid majority in the house and senate.
He got his budgets a stimulus is health -- -- everything you want -- in place.
Here's what he said he would do.
He said he would cut the deficit in half by the end of his four years in office he's given us by far five trillion dollars in debt.
He called bulk bush unpatriotic for four trillion in eight years.
He never got -- earmarks never read line by line.
Never covered a lobbyist has he failed the American people by not keeping those promises.
Well I'd say this if you see what he inherited and what he's been able to do in saving the economy save I don't think anyone challenge saving the economy yes this.
Do you really think you had he not got to congress and this is almost done before this one did.
Do you think that we would have survived as a country had we not.
Given -- don't put in that seven.
Where you what did people do you actively say that we shouldn't -- -- these corporations I don't think we should have bailed out to corporate opinion did you say that at this time sure what what -- -- a minority of your business voices saying -- -- unless gain in the the answer the question is Charlie the answer is not government you know Ronald Reagan had a great line he said the problem isn't that.
Government is not taken -- of revenues government spends too much.
And we have gone now we're borrowing forty cents of every dollar you don't need a calculator you don't -- accounting degree.
To realize that were robbing from our children and grandchildren I know you care about your kids you care about our future.
We cannot continue this way every time a Republican says we'll get out of manage spending.
Democrats -- the withdrawal granny off the cliff.
This is gotta stop we got to deal with we got a style spending -- you -- -- -- -- -- bush and impress me you've got to stop spending and you got to raise revenue -- what is so you wanna raise taxes at.
And I -- 95 cents or we got our -- how much she does I was asking you whether or not you.
Think that closing tax loopholes is a trillion bucks they actually.
That raises taxes this raises this they you have to give the specific -- -- poli talk let's I don't have a pulse why not you won't even have -- -- I never -- you.
But honestly the average New Yorkers in my position.
Almost -- about a corporate tax we get the highest corporate tax in the entire world may -- chide him and the Japan beat this out.
But -- -- -- -- matter is they actually pay a lower right.
Because of the loophole so sick now what you -- -- I pay more taxes she doesn't mean they don't pick out GDM talking about you but may disable what they clean up to code.
Get rid of -- yeah yeah I can bring it oh yeah I I support a -- -- -- excuse wartime national sales tax not on top of the income tax.
Well but you know but.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- So but it could have went with that I get apology you haven't lost your sense of humor congressman good to see a good to -- --