Obama to propose tax increases on wealthy

Obama to propose tax increases on wealthy


LIVE FROM THE WHITE HOUSE. THANK YOU SO MUCH. JOINING ME NOW IS GROVER NORQUIST, PRESIDENT OF AMERICANS FOR TAX REFORM, A TAXPAYER ADVOCACY GROUP HE FOUNDED IN 1985 AT PRESIDENT REAGAN’S REQUEST. THE PRESIDENT IS TALKING ABOUT RAISING TAXES ON WEALTHY AMERICANS TO PAY FOR BREAKS FOR THE MIDDLE CLASS. IT APPEARS THAT 2016 IS DEJA VU ALL OVER AGAIN.>>THAT’S WHAT HE CALLS IT. WE KNOW IT’S A MASSIVE SERIES OF TAX INCREASES AND THEY’LL HIT EVERYBODY. HE’S TALKING ABOUT MASSIVE SPENDING TO GO WITH THE SIGNIFICANT TAX INCREASES. WHAT’S ODD IS THAT IF HE REALLY BELIEVED THAT ANY OF THIS WAS A GOOD IDEA, HE COULD HAVE DONE IT IN 2009 OR 2010 IN BUDGET RECONCILIATION WITH 51 DEMOCRATIC VOTES. HE HAD 60 AT ONE POINT. THIS IS A LIST OF THINGS HE DIDN’T DO WHEN HE HAD DEMOCRATIC MAJORITIES IN THE HOUSE AND SENATE. IT’S A POLITICAL DOCUMENT. THE PRESIDENT TOLD THE BUSINESS COMMUNITY FOR SIX YEARS NOW THAT HE WANTED TO REFORM THE TAX STRUCTURE WHICH IS VERY DAMAGING FOR AMERICANS. WE PAY HIGHER RATES, THE BUSINESS COMMUNITY PAYS HIGHER RATES THAN ALL OF OUR COMPETITORS OVERSEAS OR EVEN IN CANADA. HE’S BEEN TELLING THEM HE WANTS TO DO THIS AND HE WANTS TO DO THIS AND NONE OF THAT IS HERE. IT’S ALL JUST TAX INCREASES AND MORE SPENDING.>>LET’S BE SPECIFIC ABOUT WHAT THE PRESIDENT WANTS TO DO. HE IS PROPOSING $320 BILLION IN TAX HIKES OVER THE NEXT TEN YEARS. 8% HIKE ON CAPITAL GAINS. NEW FEES FOR BIG BANKS. INCREASES IN TAXES FOR COUPLES EARNING $500,000 AND MORE AND USE THAT MONEY TO PAY FOR COLLEGE FOR SOME MIDDLE CLASS PEOPLE AND HE ALSO WANTS A $500 TAX CREDIT FOR MARRIED COUPLES AND HE ALSO WANTS TO FIND A WAY TO PAY FOR CHILD CARE IN THIS COUNTRY. THAT’S ALL WORTHY STUFF, RIGHT?>>IT’S A SERIES OF SPENDING BILLS THAT HE’S PUT FORWARD, NONE OF WHICH HE DID IN THE STIMULUS PACKAGE. YOU DO HAVE TO WONDER, HE’S BEEN ALWAYS VERY GOOD AS A POLITICAL SPOKESMAN OR AS A CANDIDATE. HE’S GOING BACK INTO CAMPAIGN MODE. GOVERNING MODE WOULD HAVE BEEN WHAT ARE WE GOING TO DO ON TAX REFORM? THERE’S NO TAX SIMPLIFICATION. HE DOESN’T HELP PEOPLE WHO SAVE THEIR MONEY THROUGH 529 PROGRAMS. HE DAMAGES THOSE AND DAMAGES THE EDUCATIONAL SAVINGS ACCOUNT AND MAKES THEM LESS ATTRACTIVE.>>LET ME ASK YOU THIS. WILL YOU ROLL OUT A NO TAX PLEDGE IN 2016?>>THE NO TAX PLEDGE HAS BEEN SHARED WITH CANDIDATES FOR OFFICE GOING BACK TO 1986. WE HAVE A MAJORITY OF MEMBERS OF THE U.S. HOUSE OF REPRESENTATIVES — >>WILL YOU HOLD THEIR FEET TO THE FIRE LIKE YOU DID THE LAST TIME AROUND?>>THE AMERICAN PEOPLE HOLD ELECTED OFFICIALS TO THEIR COMMITMENTS. PRESIDENT OBAMA PROMISED HE WOULDN’T TAX ANYONE WHO MADE LESS THAN $250,000 A YEAR. TOOK HIM 16 DAYS TO BREAK THAT PROMISE. THERE ARE EIGHT TAXES ON THE MIDDLE CLASS IN OBAMACARE. LET’S GET RID OF EIGHT TAXES IN OBAMACARE WHICH HIT MIDDLE INCOME AMERICANS AND MAKE THEIR LIVES MORE PAINFUL.>>LET’S TALK ABOUT THAT FOR JUST A SECOND. YOU SAY PRESIDENT OBAMA WANTS A RETURN TO THE JIMMY CARTER ERA WITH HIGHER TAXES THAT CAN KILL JOBS. HOW CAN YOU SAY ALWAYS RAISING TAXES KILLS JOBS WHEN THE PRESIDENT HAS RAISED TAXES ON CORPORATE AMERICA. HE HAS RAISED TAXES THROUGH THINGS LIKE OBAMACARE, RIGHT, THAT IMPACT SMALL BUSINESSES AND THE MINIMUM WAGE HAS INCREASED IN SEVERAL STATES AND CITIES YET JOB CREATION IS GROWING AT A RATE WE HAVEN’T SEEN SINCE 1999.>>YOU ARE LOOKING AT THREE MONTHS. HE’S BEEN PRESIDENT FOR SIX YEARS. IF YOU TAKE HIS — >>THE ECONOMY IS DOING GREAT NOW AND WE WERE IN A DEEP RECESSION, MIGHT I REMIND YOU, IN 2008.>>LET’S COMPARE THIS RECOVERY TO EVERY OTHER RECOVERY SINCE 1960. IT’S THE WORST RECOVERY COMPARED TO ALL OTHERS. REAGAN’S, HE’S 10 MILLION JOBS BEHIND REAGAN’S RECOVERY. THE RECOVERY IS WORSE THAN EVERYONE SINCE 1960. A GREAT THREE MONTHS THIS PAST YEAR BUT COMPARED TO OTHER RECOVERIES, THIS IS A LOUSY RECO RECOVERY. MILLIONS OF AMERICANS ARE OUT OF WORK BECAUSE HE DECIDED TO TAX AND SPEND AND SLOW GROWTH RATHER THAN TAKE RLESS REGULATION, LOWR TAXES AND HAVE GROWTH IN THE ECONOMY. WE’RE PAYING DEARLY TO THIS DAY FOR MISTAKES HE MADE AND HE WANTS TO DO MORE OF WHAT DIDN’T WORK.>>SURELY YOU COULD ARGUE THAT HE HAS DONE NOTHING TO MAKE THE WAGE GAP BETTER FOR MIDDLE CLASS AMERICANS, RIGHT? EVEN REPUBLICANS ARE LAMENTING THE WAGE GAP. MITT ROMNEY, JEB BUSH, TED CRUZ, RAND PAUL. AS FAR AS IDEAS GO, I HEARD ONLY ONE. REFORM THE TAX CODE. THAT OF COURSE TAKES A MINUTE. SURELY THERE ARE OTHER WAYS IN THE MEANTIME THAT CAN SOLVE THE PROBLEM THE WAGE GAP. WHAT ARE THOSE WAYS?>>WE’RE 10 MILLION PEOPLE UNEMPLOYED IN THIS COUNTRY BECAUSE OF THE PRESIDENT’S POLICIES COMPARED TO REAGAN’S POLICIES.>>THE WAGE GAP, HOW CAN WE SOLVE THE WAGE GAP PROBLEM?>>BY GETTING MORE PEOPLE JOBS. ONE REASON YOU HAVE A WAGE GAP IS BECAUSE PEOPLE DON’T HAVE WORK.>>MORE PEOPLE ARE GETTING JOBS BUT THEIR WAGES AREN’T RISING. THAT’S A FACT.>>THERE COULD BE 10 MILLION MORE PEOPLE — MORE THAN TEN. THAT’S A CONSERVATIVE ESTIMATE.>>THAT WILL DRIVE UP WAGES?>>YOU GO FROM ZERO TO YOUR WAGE. THE MOST IMPORTANT THING YOU CAN DO IS GET PEOPLE JOBS AND WE WANT TO HAVE HIGHER WAGES. THE PRESIDENT’S FRIENDS, THE TRIAL LAWYERS WHO ARE BUSY SUING COMPANIES AND INDIVIDUALS, ARE A TREMENDOUS COST ON ECONOMIC GROWTH AND THEY KEEP WAGES DOWN. THE PRESIDENT HAS NOT GOTTEN FREE TRADE AGREEMENTS READY TO GO YEARS AGO. HE’S NOT FOCUSED ON THOSE BECAUSE ORGANIZED LABOR HAS TOLD HIM NO. NOW HE SAYS HE’S GOING TO. THAT WOULD BE HELPFUL IF HE SWITCHED HIS POLICIES. THAT’S AN IMPORTANT THING TO GETTING WAGES UP AND HAVING MORE GROWTH IN THE COUNTRY. WE SHOULD BE EXPLORING FOR OIL IN MORE PLACES IN THE UNITED STATES. HE’S CLOKILLED THE PIPELINE.>>AMERICA’S DEPENDENCE ON FOREIGN OIL HAS DECREASED. THAT’S A FACT. WE’VE BEEN DRILLING MORE.>>IN PRIVATE LAND. ON FEDERAL LAND WHERE THE PRESIDENT HAS ANYTHING TO SAY ABOUT IT, IT’S GONE DOWN. NOT UP. DOWN. NOT UP. THE PRESIDENT’S CASE IS VERY BAD ON THIS BECAUSE IN THE PRIVATE SECTOR AND ON PRIVATE LAND AND ON STATE LAND, THAT’S WHERE THIS NEW EXPLOSION OF GROWTH IS COMING FROM. IF HIS EPA REGS WENT INTO STOP THAT AS THEY TRIED IN OTHER AREAS, WE WOULDN’T HAVE THIS GROWTH. WE AVOIDED THIS BECAUSE HIS EPA HAS BEEN KEPT OUT OF BEING ABLE TO SHUTDOWN FRACKING.>>I’LL ONLY THROW ONE MORE THING AT YOU BECAUSE I THINK IT’S CONFUSING TO A LOT OF AMERICANS. GAS PRICES ARE ALMOST $2 A GALLON ON AVERAGE ACROSS THE COUNTRY, RIGHT?>>YES.>>THAT MEANS STATES LIKE NORTH DAKOTA, WHICH IS A BIG DRILLING STATE, THE PEOPLE WHO OWN OIL COMPANIES THERE ARE PLANNING THOUSANDS AND THOUSANDS OF LAYOFFS. HELP US UNDERSTAND THAT.>>TWO THINGS. WHEN YOU EXPAND MORE DRILLING AND BRING OUT MORE OIL, AT SOME POINT THE PRICE GOES DOWN. THAT’S A GOOD THING. WHAT WE’RE LOOKING TO DO NOW IS FIND OUT WHERE WE CAN — YOU WANT A LOW PRICE OF OIL AND YOU WANT AS MUCH EXPLORATION AS WE CAN IN THE UNITED STATES TO HELP BRING DOWN PRICES.>>THE LAYOFFS ARE DISTURBING, RIGHT, BECAUSE THOSE JOBS HAVE GREATLY HELPED THE AMERICAN ECONOMY.>>THEY HAVE. WE OUGHT TO BE OPENING UP OPPORTUNITIES TO DRILL IN OTHER PLACES SUCH AS OFFSHORE. PEOPLE CAN MOVE TO NEW OPPORTUNITIES THERE. IN AN ECONOMY, THERE ARE ALWAYS JOBS BEING CREATED AND JOBS BEING KILLED. THE PROBLEM WE’VE HAD IS WE HAVEN’T HAD ENOUGH JOBS CREATED AS YOU HAVE A MIX IN JOBS TURN OVER. THAT’S ALWAYS GOING HAPPEN IN A FREE ECONOMY. YOU WANT MORE JOBS CREATED THAN ONES DISAPPEAR. THAT’S WHAT WE HAVEN’T BEEN DOING VERY WELL FOR THE LAST SIX

15 Comments

  1. imatelly says:

    i got a hunch.
    he proposes tax hikes on the upper class, people tell him to take a hike.
    then he comes out and tries to compromise, it dont work.
    raises taxes on the middle class, then ruins a wedding to play golf.

  2. Michel Nostredame says:

    why tax increases? simply you Govt have no credit to print toilet paper. you Govt need to get some money from you then handling to Jewish (the Fake Jew the Babylonia Jew) bank for get bigger credit to run American (debteconomy)… Thank to O'men O'dumbo the first O'homo president…

  3. Steve says:

    No, only his upper-crust buddies get a tax hike.  They used to pay much more.  Remember…
    There are two types of conservatives….the 1%, and the suckers.  Check your pockets!

  4. Patrick li says:

    A proposal is just a proposal…made himself look good and if he doesn't succeed and get what he "wanted", it would be very easy to blame the republicans

  5. TheIssa says:

    So what brainwashed scumbags are against this? Conservatives are the biggest idiots in history. Only reason your puppeteers are against this is because that means less donor money for their greasy pockets

  6. Mojokuku says:

    He knows it wont happen, if he was serious about it, it would have been done the first two years of his administration when democrats had control.  This is just a ploy to appeal to the mindless masses that vote democrat, that don't know any better. 

  7. Mythra13 says:

    1% Wall Street Sales Tax. 
    Tax Wall Street + Rebuild American infrastructure!
    Create jobs & let Wall Street pay for it. Their turn to bail out the rest of America.

  8. Billy Bob says:

    WHERE ARE THE SPENDING CUTS, THE CORRUPT ASSHOLE HAS NEVER CUT SPENDING. OBAMA DOESN'T KNOW WHAT SPENDING CUTS ARE, RAISED BY A WELFARE MAMA AND A CAREER DRUNK FATHER. SOMEONE ELSE ALWAYS PAID FOR EVERYTHING.

  9. Doodelay Explains says:

    Americans said in a pew poll that income gap between the very rich and the middle class is obscene, they say they want that problem solved. But when we try to take steps to reign in that problem, rich republicans like grover whine and moan. There is no other way to solve this issue.

  10. PrincessTS01 says:

    CNN HAS BECOME A SHILL FOR BIG CORP AND CONSERVATIVES

  11. Doodelay Explains says:

    I love how hard she's pressing grover on his misinformation campaign. Way to go Costello. Keep it up CNN

  12. samuelbroberts says:

    Obama doesn't really lead so much as he demagogues and divides his way to power.  Guess that's what happens when you elect a "community organizer" with no management experience to the highest office in the world.

  13. Daniel Placencia says:

    Whenever this guys trying to sell us aint workin all I hear was more oil

  14. Jack Daniels says:

    Did you know that there is no such thing as a TAX HAVEN. Anywhere you go you will always have to pay tax eg Monaco is a Tax Haven but you still pay taxes just on other things, You don't pay anything on your salary but you do pay a housing tax, food tax, road tax etc and thats how Monoco and other places like it get their money so not paying tax is just an illusion. The Republicans are dishonest by making people believe that you don't have to pay tax for a country to run itself but the reality is how do you pay a Congress or a Senate or the President, Army, Police etc if no one is paying taxes in some form.  The Democrates are honest and up front and tell you what they are going to do while the Republicans steal the money from the poor and middle classes to pay for the things they need money for whilst also giving the rich the illusion that they will never need to pay tax but they do get it from them in other forms – you rich you buy a BIG house you gonna pay big tax on it, you have a plane a boat a nice car!

  15. Steve says:

    "tax increase will hit everybody".  No thats a lie.  Half of Americans pay ZERO tax already.  That won;t change.  What will change is the rich will pay more.  Who else has it????

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