there is a great basis and very sound economics in the theory of trade. very sound economics. yes. in the theory of trade between nations. where is the sound theory, and articulate it a little bit. where does it go awry in the political process so that something that could be tremendously beneficial to everybody involved too often either becomes one sided or dysfunctional? well, i mean, there is a fundamental problem that we do have in america, which is that we may have a labor force that isn t quite priced for a global free market as you say. we go into a deal with panama, colombia, colombia, club workers who ask for a raise, sort of oliver twisty type scenario. but there is a fundamental problem we have. we can t just insist that we close ourselves off because we do want to open up new markets as you know. we want to fix it and you want to make sure there is a certain
called on congress to get going and extend the bush tax cuts for families making less than $250,000 a year. doesn t it make sense for to us move forward with the tax cuts that we all agree on? reporter: however, senate democrats led by majority leader harry reid have not introduced a bill to do so. and republicans argue in the tough economic times, everyone should keep that tax break set to expire at the end of the year, including those families or small business owners who earn over $250,000. republicans are united. no tax increases on nobody. now that may be poor grammar, but it s sound economics. republicans contend tax breaks for wealthy americans will not stimulate the economy and will put the government in debt. the extension of the tax cut for our wealthiest, for our millionaires will add $700 billion to the national
called on congress to get going and extend the bush tax cuts for families making less than $250,000 a year. doesn t it make sense for to us move forward with the tax cuts that we all agree on? reporter: however, senate democrats led by majority leader harry reid have not introduced a bill to do so. and republicans argue in the tough economic times, everyone should keep that tax break set to expire at the end of the year, including those families or small business owners who earn over $250,000. republicans are united. no tax increases on nobody. now that may be poor grammar, but it s sound economics. republicans contend tax breaks for wealthy americans will not stimulate the economy and will put the government in debt. the extension of the tax cut for our wealthiest, for our millionaires will add $700 billion to the national
anybody in an economy like this. molly henneberg live on capitol hill on the top story at the bottom of the hour. what about republicans? they are not going to go along with the president s plan, are they? . no in fact, republicans say, shep, that they intend to fight to extend the bush tax cuttings to all taxpayers regardless of income. including some small business owners that file individual rate rather than the corporate rate. a tax hike could effect them. here is more. republicans are united, no tax increases on nobody. that may be poor grammar but it is sound economics. no single policy is having a greater effect on hindering job creation than the possibility of a tax increase in january. in january because the tax cuts would expire at the end of this year. democrats who control both chambers, their leaders have not put forth a bill on this yet, so it s possible that this could go into the lame duck session of congress after the midterm election. shep? shepard: all right
us in the house are saying. it s what the american people wanting. they want us to fight. and i was disappointed, frankly, that the president didn t stand and fight with us. i think we could have won this battle. sure. david, can you explain why senator warren is so opposed to this provision? break down what it would do. sure. senator warren is basically saying you shouldn t as a bank be able to place derivatives, which are basically bets, in a casino where if you win, you get rich and if you lose, the taxpayers pay off your losses. would you like to go to the casino under those circumstances? so i don t think she s pushing to the left. i think her tremendous moral authority is being used here to promote sound economics, and i think that this will only enhance her position and increase the likelihood that she will be the president of the united states and our era s