on tax cuts. the worst thing you can do in a recession were to raise taxes. if i was president obama, i would say on november 3rd, i hear you. i am not for this intellectually but i understand the point going forward. mitch mcconnell has a bill called the tax hike prevention act. it s already there. let s pass it now and get this over with and extend the tax cuts for three years. not just one year that stuart varney talked about. i d do it for three. if you want to have this fight again next year heading into the mid he remember election and then also it s the right thing to do for the economy. david stock map was steve s neighbor for a while. he was on 60 minutes last night and he was the finance guy and he says he doesn t think they re serious about making true blew much needed tax cuts and spending cuts. let s listen. if these people were all on a
not just complaining here. he s not just carping. he s proposed an actual alternative, the tax hike prevention act of 2012. hatch s plan would extend all of the bush tax cuts for another year. it would keep the alternative minimum tax from biting most minimum taxpayers, it would begin working on tax reform, butio know the goal it wouldn t achieve? it would not prevent a tax hike from occurring in 2013. that s why you have to read to the bottom of these things. it s right there in his press relief. it says, and i quote, there is no extension of the pay roll tax cut in the amendment. in addition, the increase spending through the tax code from the partisan 2009 stimulus law is not included in the amendment. so right there in the press release for the tax hike prevention act of 2012, it says there are tax hikes that are not being re prevented by the tax
so right there in the press release for the tax hike prevention act of 2012, it says there are tax hikes that are not being prevented by the act. if you have been paying attention to this or to politics in general in the last 20 years, you know one thing for sure. democrats want to raise your taxes and republicans want to cut them. democrats, tax hikers. republicans, tax cutters. democrats, taxes up. republicans, taxes down. so right, that s what we know, right? wrong. republicans do want to cut taxes on rich people. that much is fully true, and democrats want to raise taxes on rich people. that is at least mostly true, and i say mostly for reasons i ll explain in a moment. but when we re talking about poor people, the positions reverse. democrats want to cut taxes on