Wrapping up Democratic National Convention
All-Star panel weighs in
- Duration 6:15
- Date Sep 7, 2012
All-Star panel weighs in
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Calls for a new tax.
It's called a territorial tax.
Which the experts have looked -- And they acknowledged it will create an 800000.
New jobs all of them overseas.
-- -- was Vice President Biden.
In his speech down in Charlotte.
There's an issue with this a statement in that the president's own jobs council.
Recommended the same thing it's called territorial tax system mean in the foreign earnings American corporations.
That are taxed overseas would not be taxed again.
When they're brought home the chair the president hasn't met with -- jobs council since January of this year we're back with the panel wanna start there Charles Jim Angle -- this piece tonight.
It's it's pretty good.
Well it's just singed.
It's a measure of audacity of them the president said in no way -- get audacity.
When you when you trash a recommendation.
And attributed to Romney and say it's going to hurt us and ship jobs overseas.
And it turns out and it's a recommendation of -- panel the president appointed as a way to get.
Understand how the economy -- how business is recommending improvements.
It just shows -- -- I think you know for example when the president says over and over again -- the number of jobs.
That were being launched him when he came in office what he doesn't say.
Is that the recession ended within six months in 09 June of 09.
Obviously wasn't a response and even that Obama had done the would've been enough time.
So we ended it because of the measures that bush and Geithner and others had taken at the end of -- wait.
And so we had a kind of a clean slate and 09 until today the median income the United States hadn't had declined.
Than in the recession itself I mean they're all these numbers that we're sort of -- -- over in -- speeches and you get a Preston was extremely.
Sort of harsh on Ryan calling him a liar here and there which he wasn't incidentally.
But it ignores all of this as if it really doesn't.
If it's coming out of the Obama administration and the candidate.
And other than the council recommended the jobs -- was broadening the tax base by eliminating deductions in exchange for lower tax rates overall something that the Simpson's -- commission Bowles commission recommended as well you heard the president is Charles mentioned.
Mention that in his speech.
And that -- in my -- eyebrows as well because he really didn't embrace it back back when it came out.
Sure and this is something that you know Romney has talked about as well I mean he he again won't do you tell necessarily the specific deductions anyone's thinking he's talked about.
-- deduction for a second home for example.
And so it.
You know when you have the president this is one area where in his convention speech you saw him playing -- the center he spent a lot of time.
Playing to the left on social issues and other things but on issues like taxes and deficit reduction he was trying to make a play for those swing voters -- Paul Ryan vote.
It against the Simpson Bowles commission and the actual commission.
He says that he brought forward planned afterwards choose to take the good things that he thought -- including health -- dealing with health care.
And the president didn't.
Steve how big this does this sink in any place like some of these things that.
The jobs council recommendation -- Simpson Bowles recommendations as it does it crosses -- people's minds.
You know I think I think since the Simpson polls the stuff Mike because I think people have an awareness of debt and and where we are as a country in terms of debt and deficits.
That I've certainly never seen as long as I've been covering politics and you know there's a level of concern.
I would -- even alarm.
That could be isn't unlike anything I have ever seen it's always the second.
-- most cited issues when you ask voters what are you most concerned about in some in some places in some swing states like Iowa it's the top issue so I think when the president.
Tries to own -- symbols and at the same time distance himself.
From its recommendations.
It does it does look sneaky and I think just it just to follow on appointed Charles -- if you want to talk about a audacity remember the president last night.
As it relates to taxes.
Once again made a pitch to raise taxes on the wealthy they restated his position today the White House -- It is important to remember the president himself has twice -- head on videotape.
That raising taxes in a downturn.
Will hurt the economy.
Including raising taxes on the rich in a downturn will hurt the economy he's on video saying that so I would say that's even more audacious then.
Then what Carlos pointing out because he did in -- running.
On something that he said will hurt the economy at a time when he said -- when the GDP was almost twice what it is today.
Our winners and losers in Charlotte.
Well I would say in the winner's sort of easy for me it was Gabby Giffords and that was such a great now under and I think everybody recognize it as a great moment.
Might losers Debbie Wasserman Schultz I mean -- what what she attracted you to Phil -- of the Washington examiner.
And suggest that he deliberately misquoted when -- in fact quote her accurately and had -- on audiotape I think is -- Totally disgraceful I'm surprised frankly that you haven't seen the journalistic community sort of rise up.
In defense of Phil -- as I think they would have had he not been working at a conservative paper -- Winners probably Obama himself you've -- a little bit of a bounce already out of this -- some -- the early polls.
Not necessarily because of the speech that he gave but because of the conventions altogether.
And I think voters probably lost out for both the democratic and the Republican Convention because.
As we were just -- with Simpson -- and some of these other things -- neither of these candidates really grappled with this enormous fiscal cliff from.
Winner of the vice president -- he -- -- speech of his -- if you take -- the last.
Fifteen minutes of partisan -- -- read the party did about.
Leave the bailout and feeling for the ordinary American was slightly anxious as I would say but -- was.
He had feeling -- resonance I think it's sort of rescues of reputation.
Which was rapidly heading into being irrelevant and sort of the crazy uncle in the -- so I think he did himself a world loser.
Elizabeth Warren one of the worst speeches of the two weeks that is it for the panel and an interstate -- -- two weeks.