wants to stick it to people who own three mcdonald s franchises. if you look from the join committee on taxation, nonpartisan group, what they say is of the 38 billion dollars in tax increases, we re talking about here, 31 billion would go on people who earn a million or more. if you are making a million dollars a year you are rich. we can t be living on credit forever. we ve got to stop it somewhere. i don t think is a bad idea. my stats show 75% of the families that would be affected by this tax hike are making between $250,000 and $500,000 a year. a long way from a million. a lot of those people are small business owners and that would hurt job creation of the dollar amount would cover the annual pork spending. new irs data shows the upper bracket foots the bill for 40%
economic con strabgs in the sector of the economy, yeah they may not hire as many people as the former panel has pointed out, still it would cause job losses at those businesses, jenna. basically the interest on the debt alone and the public debt is about $190 billion, it s about 36.5 billion, that is just for the rates when you factor in capital gains and dividends it comes to 680 billion, that covers annual pork spending and maybe a subsidy here or two. that is what we re really talking about. what is the point of taxing the rich, will it cure the deficit, the numbers show that it won t. jenna: do you agree it could lead to actually more job losses? no i don t think so. we are talking about money that people will most likely be putting in the bank. businesses are sitting on bundles of cash, they don t know what to do with it. that s why our treasury interest rate is so low. they are not going to hire if
when come res comes back it sounds like the white house is going to double down and say let s do another 500 billion or trillion. they are talking about business tax cuts interesting. but they want more shovel-ready construction projects. we ve done a lot of those already and it hasn t worked. the other reason i don t think has worked well there was so much pork spending in this. the turtle passes and the ant farms. greta: how about signs. we can reuse them now. it is like who is advising the president now? i think the president has become somewhat isolated two of his major economic advisers have left. as i ve said many times, i think it is time to bring in a ceo or someone who knows how
it. brian: thank you very much for joining us here on your world. thank you. some called stimulus pork spending. now it s being used to trim the fat. literally. the government doling out $372 million nationwide in taxpayer money to fight phytobeast and smoking. philadelphia will get 25 million and use a portion to help stores carry healthier food by offering grants to convenience stores to buy shelves and refrigerators in which to put fresh fruit and veggies. the next guest says that s cash well spent teary glassman joyce us. i imagine the convenience store owner is a economically rationale person and if fresh fruit and vegetables were in demand, wouldn t they have them without using stimulus money? not necessarily. there s a misconception that people in areas that shop at convenience stores more, so
david: the one group benefitting the most from the oil spill and b.p. $20 billion fund to pay for thedy sast er the disaster. it s trial lawyers. e-mack, you say the b.p. should get ready to write lawyers a check? yes, it doesn t cover legal fines and lawsuits so of course it s a sweetheart kiss. they saw the exxon valdez fine was vacate and came to the tenth of the original $5 billion. this is similar to the shield funds or the tobacco settlement fund. when we saw this happen with the tobacco fund, 5-10% went to tobacco-related issues and the rest went to higher education for places like virginia or energy issues in virginia, so it wasn t used for what it was intended for. we have to watch out. a rank smell of pork spending