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The great tax cut debate

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    Democrats, GOP still go head-to-head on issue

  • Duration 3:16
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-- now this -- Obama wants to raise taxes but even the late democratic president John F.

Kennedy said.

Tax cuts are the best way to heal the economy.

The tax cut I think most important.

I would be eleven billion dollar tax cut -- in the period of eighteen months.

We're not doing their.

Just because of the both corporate and everybody would like that in fact you can do for -- -- -- -- -- because of the lift it will give the economy this year but we'll give up yet another recession.

So what -- change the Democratic Party since JFK was in the White House joining us.

Now is -- economic advisor to President Reagan art -- art good morning.

Thank you Carol as pleasant being that -- thank you thank you -- my job by the way.

Banking at these isn't relaxing.

-- I know.

First of you are you worse border Kennedy's early on but the plots these guys diver diverged quickly.

What do you think change and the Democratic Party.

I don't know I'll let me even in the 86 tax -- Brian all the Democrats voted.

The cut the highest rate from 50% to 28%.

I mean that included -- -- including Harry Reid.

It include Metzenbaum included Bill Bradley and Al Gore Chris Dodd and Joseph Biden they all voted to cut tax rates.

The -- been very recent and I think it's basically -- Obama related.

I don't know why this class warfare stuff has come back but it's really disruptive.

And when you talk about that message amongst -- parties.

About the middle class and the refrain from President Obama is Mitt Romney must become president to give himself a tax cut.

And do it and with the expense of the middle class what's the truth toward the numbers really look like what the truth -- I mean Jack Kennedy which you showed right there was a very wealthy family he didn't cut the highest rate to help his family he did to help the country.

Kennedy cut the tax rates across the board to stimulate he cut government spending.

He reaffirmed the dollar's convertibility into gold and may of 1960 do any good free trade which is called the Kennedy round terror negotiation.

Every one of those as opposed to what Obama's doing Obama's going just the opposite direction.

And I just don't understand why the Democrats lost their play -- why they don't really support what they used to be the champions up.

-- just really quickly -- did you tell us why it's important to have these tax cuts what that would do to the economy.

Well basically what you really need to do is incentivized producers to hire people Carol.

I mean you need to -- create an environment of growth prosperity and you cannot -- we love jobs and hate job creators.

And that's what's going on here is the president is re talking down business talking to all these regulates -- Those -- the people who create jobs -- -- employment those people who make over 250000.

Dollars a year.

Are the very people who employ the middle and lower class people who create those jobs it's ridiculous to think that those people.

Will continue to provide jobs output and employment if you raise their taxes if you are raising their taxes it's not giving them a tax cut.

For ten years those tax rates have been this way now they're gonna pop them up on one small segment the job creators it's silly.

And unfortunately we're in the silly season when things couldn't be more serious art Laffer.

And economists -- -- -- thanks much for joining us.

Thanks Brian thanks for.

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