How higher taxes are impacting Americans
Paycheck panel on 'Fox & Friends'
- Duration 5:22
- Date Feb 4, 2013
Paycheck panel on 'Fox & Friends'
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This transcript is automatically generated
-- -- -- -- Indeed the president had a little surprise in store for a last night's Super Bowl interview just before the show.
The government needs to collect even more money in taxes the president said.
Listen so I'm not hearing you say read my lips no new taxes you think -- is going to have to be additional revenue over the next four and there is no doubt we need additional revenue.
Coupled with the Smart spending reductions in order to bring down our deficit.
And we can do and a gradual way of sort of doesn't have a huge impact as I said when you look at some of these deductions that certain folks -- will take advantage of the average person can't take advantage of -- -- person doesn't have access.
-- goes on to talk about his plans.
But the American people already saw their taxes go up this year can they really take another hit -- right now we got a panel -- -- -- is campus police officer here in the New York City area.
Telling what -- the guy got is the president of -- projects.
And Spencer -- and he's an independent insurance agency joining us today from New Hampshire guys thanks very much for being with us thank you.
-- -- -- let's start -- view you know the president made it very clear in the run up the election he was only gonna raise taxes on millionaires and billionaires and -- your taxes went up you feel surprised misled.
-- and well not really of that.
You know he I I do feel that the president lied to the American people because as you stated before he did state that he would not raise taxes on the middle class.
Now when I looked at my paycheck I -- a pleasant surprise when I seen that about thirty dollars and my paycheck has now.
Dwindled out of my every two weeks that I get paid.
Also -- let me guys stand general losses in a pet in a month almost seventy -- some PI and so if you averaged out throughout the year -- wind -- being close to a thousand dollars -- who campaigned there so it it -- option you're not a millionaire and -- there.
-- Qaeda wants to be a millionaire a billionaire as we all do -- tell us about your.
Yes you know I've small business management firm and we definitely noticed tax -- I noticed in the way of my employees reacted when they got their first paycheck of the year.
But also to -- I'm just building up as many cash reserves as possible.
To a stand.
You know the new capital gains tax increase that there -- proposing.
And who knows that they're gonna try -- get through this year -- and -- just really disappointed because you know that the past two quarters has really just delayed our growth and my business partners growth.
And other people would do business with we see them hoarding cash.
And kind of waiting to see what happens.
Apparently we've cracked into your computer because we've got some of your financial information here it looks like you're losing the bottom line right there about 225 dollars a month.
Gee do you blame one party in Washington more than another because in the run -- the election.
Telling you know that Republicans were very clear they didn't want anybody -- taxes to go up in your taxes have gone now.
-- you know.
There's -- -- -- misleading from both parties where you know the Republicans claim they're going to fight for.
To protect you know that that taxpayers checks and Democrats are you know saying time and time again that the middle class tax is not going up.
-- see the Democrats you know pretty much lying about it he should Republicans not really doing anything to fight wholeheartedly about it because leading up to the fiscal cliff.
There's a lot of talk about taxing the rich and where that line was going to be in -- 400000 dollars.
But ultimately not many people -- talking about or forthcoming with the you know the payroll tax cut -- which is ironic because in 2011.
They had the payroll tax cut as as part of the stimulus package which he really didn't help too much and now she's gone back up so you know doesn't seem like they're really not to -- It all started as a tax holiday and it became my hangover.
Tax hangover for a lot of people.
And Spencer let's take a look at your your situation.
Where it looks as if in your monthly paychecks are down about seventy bucks as as well.
Is this fair what's happening to you and everybody else.
Now Steve what the president doesn't realize is that this economy is never gonna grow if we don't stimulate small business and every dollar he takes from me is a small business owner.
Another dollar -- don't have to invest in my business and -- hire new employees.
I'm a trusted choice independent insurance agent and I work with small business owners every day talking about their future plans.
And talking about their payroll estimates people are suffering.
And really the problem in my mind is this president doesn't understand small business is never owned a small business is never run a small business.
He's never had to meet a payroll has never had the balance of book.
And -- out of touch with reality -- do you feel that you know -- before the election of presidents and I'm only gonna raise taxes on millionaires and billionaires.
You are not one of -- -- your taxes went up do you feel misled.
I actually don't Steve because I understand that.
This president was gonna raise taxes in general and I knew it was gonna try to find it anywhere he could.
Elections have consequences that we're seeing effects on right now this does not surprise that this has happened all right well we certainly thank all of you guys for children is all over the place.
-- here in New York -- In our nation's capital and -- up in New Hampshire today he's from Connecticut.
Gentlemen thank you very much thank you.
Thanks to right that's about what do you think about that -- friends at foxnews.com.
Were you misled.