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Are Obama's proposed tax cuts for the middle class?

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    Thomas Basile and Brian Benjamin discuss the extension of Bush-era tax cuts

  • Duration 6:39
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The president is it would go this is a fight would have the full.

About why do you think it's coming up again now because we're not actually gonna get anything done now we before November on this -- they're gonna have to do.

It's they're gonna have to do something and of course that say it it.

This debate.

Furthers the narrative of both parties who all right.

This this plays into the narrative that the president's trying to drive about about fairness about about trying to.

Trying to have people pay they're supposedly fair share but it also.

Helps the Republicans -- the president after Obama -- was deemed one of the largest would be one of the largest tax increases in American history now.

President's gonna come out has been advocating raising taxes on an even more people to the tune of tens if not hundreds of billion.

-- dollars -- Bryant.

That was great because.

It went the people who he's talking about who the present most of these taxes are.

By the top 1% and this this conversation is always coming back down to these fundamental issues about our priorities who's gonna pay for what.

We have -- three point six trillion dollar federal budget.

2.3 trillion dollars in revenue which means one point three trillion dollars we need to find and the question becomes.

Who is going to deal with that.

And -- the president saying.

Those who of the wealthiest amongst us need to pay their fair share and that's what I don't -- about it today this -- it's a fair point isn't it that wed does it come from.

The money if you if you if you go to give everybody these tax breaks had to raise any -- Well here's the thing you know over the course over the last weekend the president said you know we really need to do something about spending and then the next breath starts talking about raising revenue is so he says we need to do something about spending we're gonna do that by.

Making you send more of your money to Washington that doesn't really make a heck of a lot of sense and the problem -- the president's -- face in all of this is that.

His idea of wealthy Americans.

You're outside of the middle class is 250000.

Dollars which we all know anybody US and policy or an escort.

Small business owner that he uses that as they pass through for their own income.

There are a lot of folks are over that 250000.

Dollar limit and there are not necessarily wealthy people.

The other thing -- he's -- -- is -- -- got people in his own party were saying well you know what 250000 dollars particularly folks who were in California.

New York and Florida other places.

Especially also on the East Coast.

That's really not the middle class Mr.

President -- and nostril and out the wealthy Mr.

President that's that's that's the middle class and you're going to be hitting middle class taxpayers they want to raise the level two million dollars.

Ryan and -- statistic.

-- speaking 200 -- -- -- is not the top 1% -- it I believe did to order a video does we'll put you in the top.

Fine able Genesis and yes yes no but but let's be clear you know you can survival between 50000 dollars a year I mean how well your lifestyle is obviously is dictated at those points -- -- few people in New York City.

Who are what make it's when -- 50000 dollars who camped around then and so the question becomes.

Who is gonna pay so we're saying okay let's -- the wealthiest so not not be a part of any of the solution now let's now deal with.

-- wanna block that wanna block grant Medicaid they -- they wanted to cut back on all kinds of discretionary spending.

While not even trying to be honest about the situation saying that still won't.

-- deal with the budget but so if you're gonna be the party of responsibility which Mitt Romney claims he has to be serious and present a serious plan -- -- how you gonna balance the budget.

All right now we'll -- is if you want talk like getting serious you can also ask the question why -- we even having this discussion we are in a a very very fragile economy right now.

And the president is talking about people sending more money businesses.

Individuals yes there on the higher end of the -- -- earnings scale they're not millionaires they are not.

They're not you know.

You know bill Gates's of the world but you'll certainly also don't know they they are they are but there's a very very much much much smaller number of them.

But the fact of the matter is that we have a one point.

Five trillion dollar budget deficit.

If you.

-- -- it all of the bush tax cuts and that means for everybody for the middle class and for the wealthy the most amount of money that you're going to raises about 360 billion dollars a year lose that's it.

So but the president is not talking about making cuts to try and balance the budget.

He's talking about raising revenue where he was really serious about it we would be hearing.

We would be seeing this White House putting proposals out there can actually help close that that budget gap -- right now we're just talking about raising revenue.

Well why Cuba viewers weighing in here 250000.

Dollar incomes -- -- the -- -- straight after expenses is really not is not wealthy I'm Northrop that's sarcasm or not LG 1631 says Brian why cannot the government was within its means and let me keep the money I want content.

Is it dead there is that sense out there among some people.

That this is the government trying to take money from.

Ordinary citizens because they have been able to do their job properly and look like -- and -- the average family within a budget.

While you know.

Here's part of our problem part of our problem is that we philosophically disagree on what's fair for everybody to contribute and so.

Us most most Democrats believe that the wealthiest among us should be doing more we had to we have the bush tax cuts we've had two wars.

Now we have Mitt Romney saying he wants to go on their Iran he's -- through the toughest on defense.

That costs money to and the question is who pays for all of that and I think you know we all are paying him one way or the other.

And I think if we have a fair system -- who can agree to I think will be fine the problem is that the Tea Party saying.

Tax.

Increases -- off the table and if it's if it's not just spending don't talk to us.

You can't you can't survive like that event and it -- does seem to be a fair point home that I think since something's gotta give somewhere.

I think that the what the president needs to do if he's really serious is saying that I'm gonna do a dollar for dollar I'm gonna do a dollar for dollar match.

So if you're gonna do 360.

Billion dollars of tax increases -- Then you need to cut the federal budget per year not over ten year period by.

As much if not more.

We need to see a plan on how the president wants to close the budget gap we're not talking about -- here we're talking about.

Every single -- needs to be it needs to be both you didn't necessarily you can take more in taxes it somewhere.

-- but you need to cut your own spending to me personally I think that if if he has any shot of being able to convince the American people that this isn't just about.

The class warfare game when and that he is serious about doing something about the budget.

Then then he's got to actually put put forth real cuts.

In government.

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