Obama, Clinton sympatico on taxes?
All-Star panel weighs in
- Duration 6:35
- Date Aug 2, 2012
All-Star panel weighs in
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-- Florida just like don't we try there way.
What I'm talking about.
We tried to all I'm asking if we go back to the rates that were period.
By a wealthy individuals under Bill Clinton and if you remember that's when our economy -- nearly 43 million.
-- grid of the the biggest budget surplus in history.
And here's the -- It was good -- Everybody.
President -- -- on the stump talking about our plan.
The our plan the Democrats plan but referring back to President Clinton and his economy in his budget when you raise taxes on the higher earners.
Of course it was different time we're back with panel.
-- -- You know back in the Clinton economy was the economy was on fire there was a high tech boom.
Groce -- at 4%.
Or 3.5 percent unemployment rate was down there.
4% revenues were pouring in.
This is a different environment but the president is clearly running on the Clinton and.
It is a different environment but when the president raise taxes it was 1993 and I think technically in the -- -- so -- an -- on 95 but -- it was actually a little bit later so.
And that and the reason President Clinton did that was because of the deficit he -- -- he really did not want to raise taxes and it looked deficit and so we need.
To raise taxes what Obama's doing -- a clear political.
Fly which is to basically aligned himself with Clinton though what he's saying is completely true it is just taking us back to the rates of of the Clinton -- her which were not terribly -- Gerald.
There's -- -- been office for a full term.
The plan as I remembered that Obama plan was cap and trade trillion dollar stimulus and obamacare and that was the plan.
Regulation -- we all kinds regulation.
Hyper regulation of energy that's the -- no keystone that's his plan and obviously it's been a catastrophe that's why he won't talk about.
So now he pretends his plan -- something he was not even involved in.
That happened in the ninety's which is an extremely unusual or not our history it wasn't only.
An explosion of the economy on account of the tech boom it was also in the decade of the peace dividend.
Between 1991 the collapse of the Soviet Union the end of the Cold War and 2001.
The beginning of the war on terror.
We -- ten years of unprecedented peace and prosperity.
As a result of an accident in history which -- a huge reduction.
In spending on defense and and spending -- -- -- debt reduction.
-- social programs.
That explains -- nineteen the idea that it was spurred by a 4%.
-- have been changed difference in the in the rate of income tax on 2% of the population.
Is reasonable it's a joke and he's running on this is as his platform.
But that's not claims if it's that he's not claiming that it caused the growth -- saying.
We had growth even so taxes where this rate -- -- it's an argument against argument that the Republicans are making which is if you raise taxes at this -- oh my gosh the world's gonna.
That would be true if he hadn't used the word plan.
He says and that was our plan the tax rates.
It was Clinton's plan it's now our plan the democratic plan and it's gonna work its preposterous it's not his plan and it had nothing at all to.
With the boom that we had in the 1990s.
Nothing past this line is now -- -- speech.
Mark I don't think it's a winner.
At best what Barack Obama Hussein is utterly irrelevant to the problem this country's got which is the economy is not moving.
It's going into a -- you got eight point 2% unemployment.
Under what economic theory Kean -- -- -- -- and supply side.
Do you hit -- economy ranked in the head with a major tax increase.
There is no theory I haven't read Marx and -- lately it might be in there but this is really an absurdity on the part of the president corporate.
It's obvious this just pitch sheer.
Ideology he has a real hostility.
Against the rich and the success formula there's.
He wants to go after them that's the keystone of his campaign it is demagogic I don't think that one is -- dollar.
Yeah but even though when you ask -- a poll no matter how you ask it.
It it comes back yes you know what -- average -- tax the rich but does anybody think that will be asked him -- that really make the economy grow.
And Republicans have an argument OK bush and worked out well Ronald Reagan how -- the tax cuts worked in the Reagan.
Are you get to a utility through -- six -- 7% growth.
-- it is interest in that this president is now running on this on the stump won in 2010.
At a growth rate of 2.3 percent he said.
You know what the growth is too slow to raise taxes we gotta be careful with the economy now the growth rate is at one point 5%.
And it's okay.
I can explain that because I don't agree that.
You know that that raising the taxes is raising taxes is gonna harm the economy.
I think we're looking the biggest problem we face right now is -- out of control deficit.
That debt that is mounting and has to be paid down that's a reason to raise taxes it's not.
I don't think any of these other arguments really matter in your right every single poll even among Republicans is.
Raise taxes on the rich nobody has a problem with that -- these people are not socialists are dumb demagogues.
They just think that we need to pay offered that.
If -- ideas to pay down debt.
There's tax increase is a joke it's eighty billion dollars at most.
At most and have a one point three trillion dollar debt occasionally higher so it means that instead of 1000000000300.
Billion of deficit.
-- on every wish of being an add on one trillion -- twenty billion.
The idea that it reduces our -- is preposterous he five cents on the dollar of market the real way to reduce -- Is entitlement reform until mama won't go on -- -- in fact opposes that he demagogues anything the Republicans will say on that.
And tax reform which he talked about always in the future never speaks about it in the press.
Yeah I talk to a number of a business leaders business owners.
They actually say listen I'll pay the extra taxes but I don't -- -- see the so lenders and the GSA's and the waste land and Washington and that.
Seems to get to two but of course nobody's saying that it's just raising taxes it has been part of a broader cost -- --