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You have to do extraordinary things. but that i totally agree with you, suzy. but this practice could be a total disaster. but more importantly, this is evidence of how dysfunctional this has become. the fact you got no argument here. we don t have a congress who is actually interested in addressing the real problem. excuse me, we have a republican party that is willing to use blackmail and destroy the economy in order to get their way. i m not interested in certainly defending the republicans. but that s the reality. but the things like we re spending way more than we select in taxes. that is going to go forward. that is not true. this is a gimmick to continue not addressing this question. no. increasing the debt ceiling without having an actual conversation. i agree that this is not crisis are not the best way to ....
It s much harder to make automatic on ideological contour of it than it is to see the winners and losers. 70% of american house holds will see the taxes go up because the expiration of the tax cut first proposed by obama. this tax raised for the vast majority of wage earners was basically a foregone conclusion. the rarest of things in washington a totally nonproposition. grover norquist shrugged it off. obama was the guy who said this is a tax holiday. calling it a tax holiday suggests they viewed it as temporary. holidays aren t permanent. you may say the parties to this deal were trying to reduce the deal. and saved $100 billion. well, yes. but then congress came around and pass sensitives, breaks that ....
In the quest for income equality, the quest for taxes to go up i think is wrong. it actually has a very, very progressive system. so well you can actually question it has a progressive let me clarify, it has a progressive rate structure and rate schedule. it has nominally a very progressive rate schedule. the actual tax system is not that progressive. no, if you add the state level. at the federal level yes, at the federal level, the officially posted rates structure. to do a comparison, looking at not just a share paid by the top they have the progressivity index. the u.s. has an extremely aggressive tax system than the european who has less income equality. ....
Much higher unemployment. you re talking about the sequester? the sequester and the repeal of taxes at the same time. plus the sequester. plus, you would have had no extensions of unemployment would have gone away. the doc fix, that is say, medicare rates would have gone down by 20%. so a lot of people would not have been able to get taxes. it was better than the alt ti . alternative. i think we will look back on this as either a good thing or a bad thing in the next two months. let me ask you your questions before i get your thoughts on the deal. what i said up there was, it it seemed to me after we had gone off the cliff, showing the fact that the cliff metaphor was bankrupt, why not wait until the 113th congress? is it so important for allen west and joe walsh to be able to vote on this deal that we have to make sure that we pass something out of the 112th? why not wait for the 113th? ....
Will cost $68 billion in this year alone. in other words, congress saved money by allowing taxes of wage earners to go up and it took 72% of those savings and turned around and gave them a way to, among other nascar to subsidize racetracks, hollywood to subsidize film production and wall street which maintained a $9.4 billion loophole called the active financing reception. all the back and forth over the fiscal cliff and top marge anal rate and chain cpis these deals were never discussed or negotiated over. there s always a foregone conclusion, wage earns were going to pay more in taxes while nascar and goldman sachs were going to get their tax breaks. some washington, it s always the things not debated that are the most dangerous. do you want to find out what my panel thinks about my lesson of the so-called fiscal cliff, right after this. is a better car than camry. ....