the dividend rate will go up to 39.6. capital gains are going to go up to 20%. that s a reality. but that affects individual businessmen. that doesn t affect the business community collectively. mr. secretary, let s listen to tom donahue for a second. here s tom donahue speaking for the chamber with chuck todd a couple hours ago about what s worrying corporate america. we need to be very careful not to increase taxes on the job creators. what every company in the country is worried about is uncertainty. what s the health care going to cost? more than we thought. what will the capital market do to the availability of capitol? it s a problem. are we going to do the things about trade? what s going to happen in the tax bill in the lame duck section? you put that all together. people are sitting on their hands in their money. mr. secretary, want to follow up on that? i sure do.
balanced budget long-term program that would cut spending and adopt tax reform and deal with entitlement reform. that is what we really need. if we are not getting that done by the end of the year, i ll vote for something to avoid the fiscal cliff on january 1st. i repeat, with this economy stumbling as it is, it is not the time to raise anybody s taxes. neil: if the president is re-elected, and if that lame duck session, and i agree, i doubt we will see much action on the part of either party ahead of the election, but say that the president is re-elected and it is up to a lame duck section to decide what happens on the rates, does the president then have purview enough to say, i have been reelected, we will do what i want and what i advocated which is extend the bush rates for everyone but the upper
i m glad coburn objected. congress generally does nothing. it s not all you can list those bills and we can read them all and maybe we d like some. but it s not all inconsequential legislation. right there would be 90 votes there would be 90 votes probably to pass a food safety votes, 80 votes to pass payments to african-americans in native american farmers who for decades were essentially screwed by their government that gave different subsidies to white farmers. these things are all held up because both parties think it s all about the elections and not about the people. oh, very much so. and that happens. the republicans have done it. both sides have attacked the other. think the last time i saw polling on the lame duck section it was rasmussen and great fear about what else would happen in the lake duck session. this gives the republicans another thing to go out with in addition to the tax cultts. you spent a long time working