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The argument in favor of the president's plan to raise taxes on the wealthy, selective extension of Bush tax cuts for others
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Well is it tax hiker to actually for both how -- Democrats explain the presence finally spoken Maryland congressman Chris and -- a short time ago.
-- see you say it's great to be with you -- Okay 2000 and I'm sure that they expect this question pres Obama to the last he wanna do is raise taxes.
In a recession recession being an economist turned nonetheless -- of the still feel -- recession right now don't have jobs.
So now taxes under -- Obama's plan would go.
Would go up for those -- -- -- 2000 dollars or more right at the end of this year I mean they're two parts of the president's plan the first part of the president's plan is is jobs initiative which has been sitting.
Before the Republican congress since last September which would help boost the economy.
The other part of the president's plan is to have a long term deficit reduction.
Plan that's credible which is what every bipartisan commission's recommended as part of that.
You would have cut server a period of time.
And you would raise revenue from the wealthiest Americans over a period of time.
I -- a 50000.
And up.
If you raise -- -- those people.
Tom do you agree pres Obama's 2009 statement that that is the last thing you wanna do a minute -- she gonna throughout the named billionaire but.
So let's say -- out there for 2002 million those people.
Well let's just be clear on statistics.
We're talking about providing tax relief to 98%.
The American people not 97%.
-- -- The issue for the economy is two fold one getting things kicked in -- but also providing real confidence that we're gonna tackle the deficit over a period of time.
And you can't continue to say you're serious about the deficit without combining cuts which we've done some and we need to do more.
Revenues from closing tax loopholes and getting rid of the tax breaks for the wealthiest Americans if you're serious about deficit reduction.
You should do it every bipartisan commission has recommended and couple those two things to -- yeah.
Everytime I hear talk about serious serious about the panel in our deficit.
The first thing I think -- is that.
Everyone Republicans and Democrats are realized that to your party doesn't run the house right now.
But they everybody sort of has gone off and is looking towards lame duck to handle things like the deficit ceiling.
All the bush tax cuts all those sort of issues lame duck after election.
It if it was so serious about Palin those -- why isn't anyone right here right now working 24/7 on the problem.
Well what the president's proposing is we could actually get this done right now put all of that means they can't just be it can't speak cherry pick what you want to -- -- to let me -- is really going to be in earnest but both parties working around the clock here in Washington.
-- these -- -- -- lingering for years.
No that's that's right but they're they're two pieces to it the first is to provide.
Some revenue by asking folks very tough to pay more and that's what the presence called -- the same time is called for.
Tax relief for the vast middle class 90% of the American people.
He's also said he's willing to make some additional cuts we made -- trillion dollars in cuts over ten years as part of the budget control act.
We need to do more through a number reforms.
But the president has been very clear that he's willing to get it done now and what he's calling for today.
This to say let's provide the certainty that 98% American people will get tax relief.
We can argue about the rest later.
What no -- think we can't argue about the wrestler because that's my objection is a lot has not -- we done in the lame duck and that actually not I don't I really don't get it means.
I do my job Russia appear every single night to do my job I don't put enough -- lame duck time.
Well and is and I and then one of the issues it's going to be coming up for instance is a -- so whether they raise it whether we don't raise it that's not gonna be addressed before.
Before November this important issue.
Well that the debt ceiling will probably hit some time before the end of the year probably not before -- the election.
It's gonna at all but just be clear -- and we got to do with the sequestration issue true absolutely what does this sort of an Eminem now.
Well I mean just speaking for -- we put forward a proposal house represented as the other day that would prevent this sequestration from taking place.
A balanced approach for ten years -- an immediate one if people want to do it for just one year it was a mix of revenue and additional cuts -- lots of subsidies agricultural subsidies that are that are wasteful.
-- say both both parts of -- on this because to -- go across the hill to that tonight's state senate which is dominated by your party is that senator Harry Reid has not put a budget up to be to be discussed in the last three and a half years and it's it's both parties and we don't.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- A lot of this to lame duck and most Americans don't have the pleasure putting their jobs off.
So that's true but one job we should be able to get done right now and vote on is the jobs package the jobs plan the president submitted to the house last September at least give us an up or down vote at least.
Let people have an opportunity -- where they are and.
I'm game if we do an upper down vote on the other issues on the other sending others out of they did the senate the senate -- upper down vote on the president's jobs plan -- was actually the budget was blocked by the I -- just senator Harry Reid put in his pocket that was the end of that.
Well we had a we had a number of votes on budgets in the house we -- lots of alternatives the Republicans had a budget we presented democratic alternative budget.
I'm very close to the president's budget and we should be clear the president submitted a budget TI he'd get congress the president did in the -- -- submitted a budget was senator Harry Reid.
Who -- in the pocket well we have we have our votes in the house again on the Republican votes in the house that I -- the house.
But but just on the issue of today which is the it's.
The -- a very clear signal that 98% of the American people should get.
Actually we have a difference of opinion on the issue of deficit reduction we think that we should pursue deficit reduction in the balanced way like every.
Bipartisan commission has proposed and that's what the president saying let's at least provide.
Relief certainty for 90% American people let's get it done today president thank you -- thank you.
