crashed killing the pregnant coach and the weather was bad. and the driver died at the scene. head coach died at the hospital. she was six born pregnant and her unborn child also died and a memorial will be held on the campus in her memory. is liberal comedian bill maher now making a turn to the right? he now thinks his fair share isn t so fair. if you re in california, i could say, liberals, you could actually lose me. it s outrageous, what we re paying, i m willing to pay my share, but, yeah, it s ridiculous. alisyn: there you go. many residents are fleeing california because of the near 40% federal tax rate and the 15% state tax rate and doesn t include, state taxes, payroll taxes, extremely high. clayton: gas prices are through the roof there.
answering my question. it s only appropriate. sean: after they pay their state, local, federal, all of their taxes how much out of every dollar should they be able to keep? that s a simple question. it s not a simple question. i will tell you to have a 40% rate on the highest income, as it was in the 90s, plus the average state tax rate of i think 5%, that s, a, that s one of the lowest rates on high income people that we ve had over the last 65 years, the share of income of people in the top 400 people s income getting paid to the federal government is the lowest it s been in 25 years. and it strikes me as totally appropriate and just go back obama back to where they were in the 90 s. borrowing 46 cents of every dollar and 6 trillion in new obama debt. let s balance the budget and bring the physical sanity by doing a balanced plan with some cuts. sean: you ve got your
answering my question. it s only appropriate. sean: after they pay their state, local, federal, all of their taxes how much out of every dollar should they be able to keep? that s a simple question. it s not a simple question. i will tell you to have a 40% rate on the highest income, as it was in the 90s, plus the average state tax rate of i think 5%, that s, a, that s one of the lowest rates on high income people that we ve had over the last 65 years, the share of income of people in the top 400 people s income getting paid to the federal government is the lowest it s been in 25 years. and it strikes me as totally appropriate and just go back obama back to where they were in the 90 s. borrowing 46 cents of every dollar and 6 trillion in new obama debt. let s balance the budget and bring the physical sanity by doing a balanced plan with some cuts. sean: you ve got your
doesn t necessarily mean the deal is in jeopardy but there are a lot of democrats venting over the details of it. in particular the estate tax rate and just the straight level of income for the rates returning to the clinton era, the 400 for individuals and $450,000 for families as you talked about earlier. there are a lot of democrats who think that obama campaigned very specifically on 250 and should have stuck with 250. you know, we ll see. i imagine that they do get enough democrats to go along with it. the bigger challenge at least in the senate, the bigger challenge will absolutely be the house. you know, if they put it for a vote there tomorrow. i guess beyond that, though, the bigger question is we may look back at this as obama s highwater mark. part of the reason why the liberal folks wanted him to push for 250,000 now is because this is obama s one shot atgeting tax increase rate increases. from here on out, it is going to be a lot tougher for him. almost impossible for him
expiration of the bush tax cuts and payroll tax holiday, while president obama s health care tax for the rich and $1.2 trillion in federal budget cuts go into effect. joining me now, democratic congressman from kentucky john yarmouth a member of the budget committee. welco welcome, sir. thanks, alex. let s talk about this fiscal cliff. are we heading over it? i think there s a reasonable possibility that on the tax side we could you know? when i listen to senator boehner and mitch mcconnell yesterday, and when they sound somewhat willing to compromise, if you look behind what they re saying, they re not willing to compromise in any way that touches wealthy americans. because if you eliminate breaks, you re eliminating both the income tax rate and the capital gains rate and the dividend rate and the estate tax rate, then all you re dealing with are things like home mortgage deductions, eitc, child tax