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Study: 1 in 4 Americans living paycheck to paycheck

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    Are higher taxes hurting workers?

  • Duration 3:23
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It is -- -- address last Tuesday President Obama.

Held a strong focus.

On the middle class.

Stronger families.

And stronger communities.

The stronger America.

It is this kind of prosperity.

Broad.

Shared.

Built on a thriving middle class.

That has always been the source of our progress at home.

Just got hit with -- another tax increase at a time when one in four people are already living.

Paycheck to paycheck joining me now Glenn no Serra a campus police officer -- Glenn hello Killy and guy though the president -- projects.

And Spencer hold and an independent insurance agent morning gentlemen the morning line.

How tough is it -- you.

I well you know it's about forty dollars after every two weeks gonna get paid that's the difference in my paycheck.

Now the president said that he you can't cut your way to prosperity right.

While while Mr.

President you can't tax and spend your way to prosperity.

-- I expected the president to come out in the State of the Union Address dressed up as Santa Claus.

And -- all the goodies that he wanted to give out that night.

We have doesn't make you feel -- when you -- you're taking it another hitting your paycheck or when you see that it's.

They did discussed -- because he's you see the economy the way it's going towards you have.

The -- -- at a zero point 1% growth compared to a three point 1% growth from the prior quarter.

You have Social Security tax we're not like four point 2% to six point 2%.

It's it's hurting Americans and we we can't you affords us.

And -- that you're making more.

Then then -- But what -- your issues in terms of this 2% in terms of where we're going.

With our paychecks you know ultimately sit in the bottom line -- and ultimately -- heard the griping from my employees as well.

They notice it immediately when it started you know showing up in their paychecks.

Ultimately you know -- you have as you know Obama and Pelosi and Democrats talking about a middle class.

And ultimately it's I see -- different -- government class.

And the middle class you have Obama golfing with Tiger Woods yesterday.

And you have Nancy Pelosi saying it's beneath the dignity of congressman to take a tax cut -- pay -- connected -- -- so what you're saying.

Saying is that there's a permanent government government class that these rules don't apply to that they live a lifestyle.

That other folks don't have the capacity for that right -- -- as Spitzer -- in -- president of your own insurance agency.

Are you see -- with yourself AC with your customers what are people feeling when the -- eight dollars together to get.

Homeowners auto all kinds insurers have been in their lives.

Everybody's seen it -- as a trusted choice and -- an insurance -- I work with about 3000 families on their home and auto insurance.

And people are suffering every -- have a conversation with another client.

Who is desperate desperate to reduce their cost.

And it's seen in my business we're seeing losses go up because people are deferring maintenance they're not buying new tires on their cars they're not pretty new roofs.

On their houses.

And so losses are actually happened so all of this spirals out of control.

Spencer -- Glenn thanks for sharing and thank you see we'll see you guys again be well thank you.

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