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Now I -- democratic reaction to the GOP pledge to America as we -- a decision from senate Democrats.
On whether -- a hold a vote on extending the bush tax -- a lot going on in DC will this happen before the November elections.
Senator Byron Dorgan of North Dakota is chairman of the democratic policy committee and he's our guest today says senator Dorgan.
What's your reaction to this pledged to America.
I haven't read all of the pledge of course say it I hope the pledges that we all can work together finally instead of being Republicans -- Democrats would represent a congress that.
Can answer the call the Americans want answered to try to put the country back on track so.
You know we had precious little cooperation as you know on anything.
In the last congress and and in the last couple of years so American people -- expect better deserve better from both political parties.
And both parties are also -- cities in disagreement within as well we're taking a look at it.
Had no class tax cuts.
And one of the things that's come up over the last couple days his spam comments coming from the Democrats that potentially they'd want to extend the bush tax cuts for the middle class.
Permanently are you on board with that.
I'm not actually what here's what I would like to do I think it's important -- to extend the middle class tax cuts I would do it for a couple of years.
And then make a judgment about where the economy -- what we go from there but let me just make -- the quick point even when you just extend the middle income tax cuts.
All taxpayers including those above the 250000.
Dollars we'll have their tax rate cuts because -- tax rates cut because.
You're adjusting their rates in the first 250000 dollars for everybody.
I see you're saying say add -- the millionaire I get the tax cut after 250000.
Dollars is something that's -- always easy made clear thank you for that you know.
One of the things that it brings that as well though is that 250000.
-- we -- a congressman congressman -- man from sand island New York.
I come and join us last week and he said hey in my district you could be a firefighter.
And a teacher work a little overtime make 250000.
And still be living paycheck to paycheck so where you get that 250000.
Dollar Mark -- Confront.
Well it's -- it's an arbitrary number there's no question about that but.
You know the fact is we have a thirteen trillion dollar debt the question is.
How we gonna cut some spending -- are we gonna get some additional revenue -- in order to address this unbelievable indebtedness.
If you go beyond the 250000.
And and do the extension of the tax cuts across nearly a trillion dollars over the next ten years -- interest.
And I just I think we have be more cautious and more conservative in the way we do this.
Yet -- you see that cost even if it's for it be just the top percentage points.
And there's there's -- suggesting is if you extend a tax cuts for everybody for ten years it's even.
It's even higher than that it brings a broader question for some of our viewers out which is this.
You know appeared American couple and you're making underneath that mark of 250000 dollars in -- entrepreneur -- getting a tax break what's the incentive.
For working hard getting promoted and making more money if you know you're gonna get slapped with more taxes.
Well you'll get a tax break as well even if you exceed the 250000 dollars as it just described.
And I think all of us want to have -- an environment here in this country in which people can invest in start small businesses to grow and be successful.
The way to do that however is to create an economy that's expanding.
And you don't do that by running up more debt on top of the thirteen trillion dollar debt I guess my point is.
Let's give the people some confidence the American people some confidence that we finally at long last and wrestled to the ground this federal budget deficit and turn it around so that means tightening -- about cutting spending it also means trying to find some additional revenue.
The wrestling analogy probably the pretty good one right now considering everything that's going on in the house and in the senate.
What the likelihood you think about actually getting a vote on these tax heads before the mid term elections.
Well the senator Reid and senator McConnell have been talking about the scheduled to try to determine will this happen.
Within the next week or so or what happened during the lame duck session we know now that.
The congress is going to be a -- in December.
There is no question in my mind that.
These tax cuts are gonna be extended the question is when it'll be before the end of the year and the question is what is extended -- -- all of letters -- just the that is up to 250000.
Dollars I mean I think those questions need to be answered but they certainly will be answered before the end of the year.
Senator -- saying you're gonna -- up until Christmas Eve Christmas Day slightly different health -- I hope -- that was Christmas Eve -- day as you know but I you know look I just I what I wish we can all decide you know what.
This country's in trouble needs help we -- want to work together and.
Find a way to lift America we can do that while we appreciate your sentiment today senator and thank you for joining us senator Dorgan.
America I have -- -- against -- -- talk about in the coming weeks.
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