Detailed text transcripts for TV channel - CNN - 20100806:21

Detailed text transcripts for TV channel - CNN - 20100806:21:31:00

otherwise we wouldn't be in the mess or at least somewhere near where we are now so i think the president is right. let's give the tax breaks to the middle class. those are the people, the small business owners, that need it the most. not the very wealthy that haven't been paying their taxes the way they should have in an appropriate percentage the way lower income -- >> aren't you afraid some of these small business owners who are sole proprietors if they're going to be taxed more they won't be able to hire additional workers? >> there are a lot of incentives available. we passed the hire act that allows for businesses to hire someone, a $5,000 tax credit if you employ someone out of work for more than two months. that will help draw down the unemployment figure. people aren't taking enough advantage of it and part of it is because we have tight capital and credit. our financial institutions have to do a better job of making sure that they let, loosen up on the credit. >> i'll read to you one quote from the economist alan sinai and get your quick reaction. then i'll let you go back to work. businesses just don't want to hire. workers are too costly and it's very easy to substitute technology for labor.

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