be washington, d.c. had all this money pouring. in in washington, d.c. really what matters in a lot of cases is connections, relationships, and if you are not in that closed circle, you are not going to get access to the funds. sean: you would think that these people that have a monopoly on compassion, steve would just look around them in some of these neighborhoods. i have been to many of them and they are struggling and people are starving and their kids need food stamps to feed themselves. it s unacceptable. also, if you look at that statistic that we had on the screen that the top 20% or top 5% is making $475,000 a year. i mean, of all the 50 wealthest cities in the country, it s the top as far as that concentration of wealth. so i think that compassion is all happy talk. i think when you look actually where the money is is spent, how the money is spent and hot money is spent on, you see you have a political class there that s really just concerned about themselves. sean: you
be washington, d.c. had all this money pouring. in in washington, d.c. really what matters in a lot of cases is connections, relationships, and if you are not in that closed circle, you are not going to get access to the funds. sean: you would think that these people that have a monopoly on compassion, steve would just look around them in some of these neighborhoods. i have been to many of them and they are struggling and people are starving and their kids need food stamps to feed themselves. it s unacceptable. also, if you look at that statistic that we had on the screen that the top 20% or top 5% is making $475,000 a year. i mean, of all the 50 wealthest cities in the country, it s the top as far as that concentration of wealth. so i think that compassion is all happy talk. i think when you look actually where the money is is spent, how the money is spent and hot money is spent on, you see you have a political class there that s really just concerned about themselves. sean: you
be washington, d.c. had all this money pouring. in in washington, d.c. really what matters in a lot of cases is connections, relationships, and if you are not in that closed circle, you are not going to get access to the funds. sean: you would think that these people that have a monopoly on compassion, steve would just look around them in some of these neighborhoods. i have been to many of them and they are struggling and people are starving and their kids need food stamps to feed themselves. it s unacceptable. also, if you look at that statistic that we had on the screen that the top 20% or top 5% is making $475,000 a year. i mean, of all the 50 wealthest cities in the country, it s the top as far as that concentration of wealth. so i think that compassion is all happy talk. i think when you look actually where the money is is spent, how the money is spent and hot money is spent on, you see you have a political class there that s really just concerned about themselves. sean: you
debt ceiling. his arguments is not sitting well with republicans. allowing country to put on more debt without tackling spending is down right dangerous. wend all joins us live from honolulu. what the president doesn t want is for republicans to demand spending cuts in exchange for raising the debt soleing. it appears that will happen. he said it must be raised to cover money that congress has already spent . he s defending increased tax revenue and spending cuts. to be a part of the debt ceiling debate. spending cuts must be balanced with reforms to our tax code. the wealthest and biggest corporations shouldn t take of loop holes and deductions. it is settled when they raised
income to the feds. those making below $400,000 a year will pay a variety of new obama care taxes and see a 2 percentage point rise in their social security payment. everybody gets hit. if you invest, you will be paying about 9 percentage points more in capital gains and tax. if you die and your estate is worth more than 5 million bucks you will pay 40% of death tax to the feds. president obama is not finished. he wants more from the affluent. we can t simply cut our way to prosperity. cutting spending has to go hand in hand with further reforms to our tax code. so that the wealthest corporations and individuals can t take advantage of loopholes and deductions that aren t available to most americans. bill: ewe, no question now. no question that the american people have voted for a president who wants to redistribute income. he is not going to stop.