anybody is hiring. it s time to get all of these under control. those are the three big points in our package, if you will, to get the economy going and to save the future for our kids and grandkids. greta: take the tax issue, we know they are going to expire by the end of the year. a lot of people are sitting by the sidelines, whatever happens they can deal with, they don t know if they are going up or staying the same. they are on hold. so the economy is on hold until we have a decision. it would speed up the economy, think, a little bit if the tax decision were made now? if people knew what the tax rates were going to be, they could plan. that is why the house moved to extend the tax rates for one year. to give us time to reform tax code from top to bottom, personal tax code and corporate
anybody is hiring. it s time to get all of these under control. those are the three big points in our package, if you will, to get the economy going and to save the future for our kids and grandkids. greta: take the tax issue, we know they are going to expire by the end of the year. a lot of people are sitting by the sidelines, whatever happens they can deal with, they don t know if they are going up or staying the same. they are on hold. so the economy is on hold until we have a decision. it would speed up the economy, think, a little bit if the tax decision were made now? if people knew what the tax rates were going to be, they could plan. that is why the house moved to extend the tax rates for one year. to give us time to reform tax code from top to bottom, personal tax code and corporate
but at midnight, december 31 tautomatically goes up to 55% and exemption is $1 million, unless you do something about it. what is going to be done? what you can do? that s set up so it s a decision that is likely to be made in lame duck, the time between the election and the end of the new members of congress who have been elected. that s a dibolical situation, by the way. it s dibolical that if we don t do something, people will be siting there at midnight with a family member they love in a hospital bed or hospice, deciding whether to put the family member on life support, based upon the tax decision, uncle sam their will be there. that s cruel and dibolical. i am hopeful we can eliminate the death tax because it s a direct punishment on the american dream. reporter: how important is this small business impact, the death tax on the small businesses? it s got a great impact on
tautomatically goes up to 55% and exemption is $1 million, unless you do something about it. what is going to be done? what you can do? that s set up so it s a decision that is likely to be made in lame duck, the time between the election and the end of the new members of congress who have been elected. that s a dibolical situation, by the way. it s dibolical that if we don t do something, people will be siting there at midnight with a family member they love in a hospital bed or hospice, deciding whether to put the family member on life support, based upon the tax decision, uncle sam their will be there. that s cruel and dibolical. i am hopeful we can eliminate the death tax because it s a direct punishment on the american dream. reporter: how important is this small business impact, the death tax on the small businesses? it s got a great impact on
wealthy americans. the middle class would hold on to the $1,000 savings. why are republicans fighting this tax break? republicans do not like increasing taxes on wealthy americans. to some degree, it s as simple as that. the other part is this tax break is their only leverage left. the debt ceiling is raised. they can fight on the payroll tax to get something else if they want. it s a lose-lose situation for them. i ll say one more thing about the republican position. their argument is that this surtax would be a surtax on small businesses. if you read what s coming out of their side, the democrats want to cut taxes on working americans by raising them on small businesses. this basically isn t true. it is the case that any tax on wealthy americans will hit some small businesses and business owners because some businesses incorporate as individuals. that s a tax decision they are