How could Romney's tax vision affect you?
Brian Benjamin & Robert C. O'Brien on whether Romney's tax plan will help or hurt small businesses
- Duration 13:43
- Date Aug 2, 2012
Brian Benjamin & Robert C. O'Brien on whether Romney's tax plan will help or hurt small businesses
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Let's get to our political panel joining me on the set is Brian Benjamin managing director of Genesis companies and a two to 2012 Obama.
Delegate and that you can follow.
You on Twitter Benjamin.
Is it just Bear -- -- run any Benjamin Brian Gay and Atlantic I've got -- I got into problematic.
It -- in Los Angeles senior mines -- Romney.
He's running presidential campaign -- can also be found on Twitter at Robert C O'Brien thank you both for joining us Robert -- I'm.
Good morning and our and I can't -- -- know that you're there that I -- area and you can hear me thank you very much all right let's get started banks about.
-- governor Mitt Romney in Colorado on home soil let me play a sound bite from him and he's talking about it's.
About that big tax cuts and you know the senate.
Agreed on some tennis thousands tax cuts and let others sort of -- Wear out so take a listen what Romney said -- You to pay more.
So that people like him.
Can get a but that's not.
Okay that was Obama yes -- the yes that's good enough cost.
I didn't sound like the governor now it's not -- Obama but he basically the news he was he was criticizing Mitt Romney.
Because he says -- you know his idea of attacks and is -- that they mores of the people like you can get a big tax cut this is -- and be aware of philosophical.
And -- ground.
Based difference between the Republicans and the Democrats on this issue Brad Bryant wanted to take it about -- -- -- to a comment on the.
Yeah I think this is ultimately what this all boils down to is that you know Mitt Romney suggesting that folks who are making over 2050000 dollars they -- Dreams and desires and needs to be placed over.
The the bills for everyone else and I think if you look at.
What Mitt Romney has proposed he said I'm gonna cut taxes for everyone played percent but up this -- -- impacts those in the top the higher end.
And you also saying he's going to.
Push it com for an offense we gonna we gonna really go after Iran that's gonna cost more money -- -- or for money so the question becomes if he's gonna balance the budget.
And cut spending at the Tea Party is.
Begging everyone to do.
How does he do that he passed that he has to cut.
Medicaid -- security.
And he's gonna have to increase -- to someplace.
You know some some some are saying he's gonna have to look and if we look at homes and how people are getting more deductions and other things and so.
I think that the government just to be clear on what it has to do is -- -- but -- what really matters is not clear.
Available you take it -- what what is it you're.
What do you think about that.
Well I think what's clear is that we've had 41 months of unemployment over eight point 1%.
And that's just folks that are unemployed when you add in people that are.
Looking for work -- dropped out of the job -- 23 million Americans are underemployed unemployed can't get a job can't pay their mortgages.
This presence had an opportunity to fix economies had three years to do it he hasn't done it.
In election year he's saying let's tax job creators let's tax small businesses the folks that create millions of jobs.
And so that's not the answer wasn't the answer in 2010.
President Obama said raising taxes in the middle recession is not a good idea.
It wasn't a good idea them it's not a good idea to raise taxes on job creators now the only difference is we have an election.
And the Obama folks at the side of the fight pitting.
American against American.
-- -- by trying to vilify people that are out on for Norris.
You heard the president say you didn't build that if you built the small business you didn't build that somebody gave it to you as somebody yelled at me.
And Robert let's back up a year ago what's that that -- -- not -- write but let's back of the year because a year ago they were having this same conversation about and it was that they had to extended the deficit to increase the deficit.
And they've made some there's some deals and you know got it going again I feel as it were back -- square one.
And I do -- called that you know John Boehner went and -- with President Obama.
And made some deals and and the team took -- back to the Republicans and -- said no deal.
Could the Republicans be held some -- probability events.
Well that's that's not actually what happened there was a deal in the present Obama came back to Boehner and so I want more taxes on job creators and that's when the deal.
Cratered well what's interesting today the senator is at least taking some action to try and avoid this fiscal cliff this tax again network facing.
Unfortunately there's absolutely no presidential leadership the president has not been out front on this.
We're facing sequestration which could decimate our military justice are.
Young men and women are coming back from Iraq and Afghanistan.
We're looking at at destroying the navy.
It and it -- we have we have a total lack of presidential leadership and so there are some folks in the senate that are trying to make some progress.
It it's tough sledding the point is we need the president to get out there tell us what he'd like to do governor Romney has said.
Let's eliminate tax loopholes for the special interest -- lower the tax rate across the board.
Without changing progressive progressive city.
-- -- the idea isn't to tax the middle class -- the idea is to lower rates across the board to make business more competitive in America and to create more jobs.
It and -- -- -- -- that -- a great plan a baby -- -- that a little bit way so by by senator Harry -- it is actually hear us senator Harry -- I did check this time.
Mitt Romney and that he hasn't.
Pay taxes take a listen to this so.
The words out that he hasn't paid any taxes for ten years.
Let -- prove that he has paid taxes because he hasn't.
Okay Brian back -- and isn't fair really.
I mean -- didn't for the average person doesn't know how the whole economy and works and if you're basically an investor and you've got your age or income.
That sounds like -- man's cheating the American government and that isn't really a fair statement.
But he's not seeing that the American government -- won't call him Machida I think he's just taking advantage of the same tax loopholes.
That both the General Electric to take advantage up which is the kinds of things that people at the top of the food king can do and so what that ends of creating a situation where.
Everyone else from the middle class on down have to pay.
Quite frankly is a complete problem this this -- the deficit is all of our problems and all the Democrats are saying and I'm saying is that.
Let the wealthiest -- -- pay their fair share.
But let me go back to a point that -- how -- an eight.
First of what he said that that was a great plan the problem with this plan -- that was incomplete.
All we talked about with a 20% income tax cuts and and some some loopholes that that the governor wants to get -- up but how you gonna pay for that.
Right and that's the whole problem -- Romney's candidacy is that it's it's it's a partial campaign he's saying I'm gonna give -- all these great things I'm gonna save you.
From from terrorism all over the world economic cut taxes and everybody and how we gonna pay for a -- we have no clue -- -- he's gonna do he's gonna guess what George W.
Two -- towards tax cut big deficits that Democrats and happened cleanup.
OK Robert you answered about.
Charlotte that the way to to increase our revenue has to do exactly what Ronald Wilson Reagan did you have to have Ralph.
We had to grow the economy we have to put people back to work.
And when that happens there'll be plenty of tax revenues have paid to protect the American people.
But but the idea of -- -- scare and claiming that Mitt Romney is gonna cut your Social Security.
Or he's gonna get a civil war I mean both those sorts of -- those tactics are desperate and it goes to what Harry Reid.
I just said it's very disappointing that the senate majority leader would come out with no evidence whatsoever -- make a statement that Mitt Romney didn't pay taxes.
Mitt -- released two years -- tax returns just like Senator John Kerry did just like Senator John McCain did.
You know and all of these we have to keep in mind that all of these attacks whether it's on Mitt Romney personally.
Whether it's them -- -- scare or the claim that we're gonna go to war again.
Designed to divert us from the president's record the president set -- why can't turn this economy around and three years.
It's going to be a one term proposition let me let me -- recently -- around me as sad as it is that he is here to collect on that proposition.
They don't have a record to run on and so we go back to the old Democrat scare tactics on and -- a great Sarah get them at.
I think that this is this isn't gonna work I got let's answer that for -- the japs got.
You know he still has yet to answer what Mitt Romney's gonna do to balance the budget which is an important topics I think the I think -- -- should be clear.
By the president you know we've had since the president elected we've had job growth is just not been as much.
As we need an end and think the tough but let's not forget.
The president that does not create and control the economy the private sector does and the president said let's get small.
-- does that tax cuts sector -- is exactly what Republicans want.
To give it you know the job growth but -- -- -- -- he's -- yeah because now then you know what don't come up with this income tax cut.
Just focus on tax cuts for small businesses and alternative energy but none -- -- they're trying to put it in a smokescreen of oh we you know the -- creative individuals I don't know if you want to give.
Tax cuts to those who create jobs while -- justice and abroad and directly.
If you created job you get a tax cut if you stop outsourcing businesses and bring them back the United States you get tax cuts none of that -- as -- as saying.
The president about the yacht and hanging out and who's got only -- dollars.
He -- his tax cut to and we just saying.
Look everyone can benefit now we've ever -- gotta have -- -- -- Wanting I absolutely Iran and let me let me read the Jasper is here because.
Gripe -- -- If you seventies is now now now let the tax cuts expire put the money toward the deficit.
-- SL's senior says when you go to the polls this year instead of voting for the guy.
You voted for for the last 23 or four elections -- voting for the other -- this time.
They can't get anywhere is an interesting strategy of writer you know what I tried this guy and I -- may get worse and that.
Also Eddie -- says it's it's it's real -- its wealth distribution and the fostering of the dangerous us vs them platform.
-- group and also says we've had this argument every year the last three years -- real problem is the deficit.
What kind of things that really is very interesting about both what you're saying is that it you're looking at small business but the problem is is that.
When you create the wealth for the small businesses they get used to holding onto it if you make any other changes in there.
They will make changes in there.
And in their platelets that did did that did the best way everybody knows is to cut their bottom line -- degrees or bottom line is let a few hundred people go.
And that's the way it is you can't guard against that you can't the Robert basically with Bristol you're talking about -- Bob -- was talking about.
The small businesses what is the republicans' plan for the small businesses and Romney's plan for small businesses.
We'll all look the the the plan for small businesses that is the flatten the tax rate and get -- the loopholes and -- -- certainty that people so they know what the taxes going to be.
Number two it's to reduce -- stifling government regulation that has just been foisted on the American people businesses can't roll their uncertain.
-- out that there there is there's that the regulation that that's come down the pike along with the five trillion dollars in new debt.
Is stifling small business is number three let's bring American an energy independence back to the forefront if the president would allow American oil and gas companies to drill we could create a half a million new jobs let's get the Keystone Pipeline.
The bill that would put twenty to 30000 people back to work.
And all the small businesses that cater to the folks the caterers who who deliver the lunches the folks who leasing and equipment the folks leasing cars.
Home builders all all the workers on keystone would would would put a big shot in the arm of the economy in the midwest -- so let's get -- of the regulation.
Let's make the tax rate fair.
Let's -- and then let's exploit America's and wonderful energy.
And put this country back to work let's get some -- back we tried the other way of I'm spreading things around of redistribution of high taxes of crony capitalism I mean the idea that the government would take five -- -- the deficit.
Five or 600.
You know billion dollars and brought -- stimulus for companies like Solyndra that went bankrupt let's let the private sector build our business.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You know I think.
One of things that we have to keep in mind here is that the president have to look at the congress.
Has been very claims to come from beginning they wanna make the president a one term president we understand that that's why.
The president comes over the jobs bill says -- hired teachers firefighters.
Folks who do all the regular things that we need 300000 plus jobs.
The -- and say no they don't want that.
The president says okay fine let's try to rebuild our infrastructure that's just put money rebuilding our bridges our roads our our.
Our our tunnels that set -- up.
Republicans say now so.
It's just it's just odd to me that you're saying let's try to create jobs the only kind of jobs the government can create.
But then but then Republicans say no and then you -- with the president's fault I think there's a little bit of this is that it's since it's been that the necessary and that I -- -- out.