which are violent and taxpayers are footing the overtime bills, to say the least. my guest wants the longer the protests go on the deeper the cuts will be made to compensate for them. and the republican new york city councilman, good to have you. so the costs, and this should not strike you as usual, but, many are surprised, they will be substantial? guest: this is a very difficult budget time for all of us, the nation, the state, and particularly the city. we face the $4.6 billion, billion deficit and we cannot afford it. the blockburg administration called it a dire fiscal financial situation and you add a month-long protest of people camping out 24/7 with no end ahead who will pay for it? you will. i will. our kids. schools will be cut back, and
all those worker layoffs made romney a lot of money. he s now worth between $190 million and $250 million, yet his estimated rate is just 14%. 14% is his estimated tax rate, much lower than 35% tax rate paid by working class folks like teachers and firefighters. fighting that kind of injustice and inequality is what the wall street protests are all about. that s why thousands of people turned out for our jobs rally on saturday. it s clear what the american people want. they want justice. it s clear what wall street wants. they want willard mitt romney because he s their kind of guy. corporations are people. they re people who work there. there are customers that are people. shareholders are people. they re people. raising taxes on corporations is raising taxes on people.
own rules, by the way, allegedly when his treasury secretary tim geithner was one of the primary regulators, head of the new york fed the wall street need be to needed to be reformed but the dodd-frank reform is not reforming wall street, it s squeezing it to the point that they re getting people laid off on wall street, not only that, they can t lend to small businesses and it really doesn t address the underlying problem which caused the financial crisis which was risk taking because wall street was bailed out by the government, but also, the government sort of infused the financial crisis, but with fannie and freddie, basically all that stuff that made homeownership a right as opposed to something that must be earned. jenna: based on what you saw and you obviously have your opinion of what s being org need in that opinion. i don t know it s an opinion. it s an observation. that s your observation. what do you think is next? how far does this go, where does this group go? i t
going on? guest: if you talk to some of the people involved in the protests they are disappointed in the president as republicans. so, from what i see, it is general anger on many fronts. some of that anger i share. and, i think one of the questions still, what is the general focus? that is still yet to be answered by most. neil: congressman, a lot of the occupy wall street crowd is very angry at the bank bailouts and this president was and is a big part of that. so, when the president embraces their message, does he risk shooting himself in the foot? guest: i don t know every politician has to address this differently. there is not a political movement as i see it, it is a movement from the grass roots and every politician should be cautious lou they try to embrace it. i have supported them but generally not specifically. but in general i share their anger at 99 percent versus the 1