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Detailed text transcripts for TV channel - FOXNEWS - 20120516:10:46:00

education, in science and technology and transportation, that s part of what has made us an economic super power. but our next guest says that words like investments are just code for payoffs. that the democratic party has become the party of special interest. jay cost is a contributing editor at the weekly standard and author of the brand new book spoiled rotten, how the politics of patronage threatened the democratic party and now threatens the american republic. he teaches classes in robert morris college in pennsylvania. thanks for having me. let s start by talking a little bit about president andrew jackson. old hickory. he founded the democratic party with high goals. he wanted to do what? well, jackson was elected for the first time in 1828 and in the 1820 s, they were a period of great corruption where the government seemed to be working for the elites in the northeast and jackson wanted to clean that out, wanted government to represent all of the people, people

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Detailed text transcripts for TV channel - FOXNEWS - 20120516:10:39:00

single and $150,000 as a family. all of this to avoid $500 million in automatic cuts set to kick in. is this a vote to destroy the middle class, stuart varney is here to tackle that tough question. yes. what is rich? we ve been sold the idea you tax the rich, and that way you can pay for entitlements and you close deficits so what s rich? in maryland, they ve redefined rich all the way down to $100,000 for individuals and $150,000 for households. you made that amount of money and anything over that, they have raised the tax on you. you are rich. stuart, this is why everyone in maryland is going to pennsylvania. that s exactly what happened. they had a millionaire s tax a few years ago. people moved, the tax brought in actually less than the tax rate before they imposed the higher tax rate. that s what happened. plus when you look at what bill clinton said yesterday, he suggested that barack obama s idea of just taxing the rich is

Stuart varney00 million500 millionRobert morris college in pennsylvaniaPresident obamaPresident bill clintonTax rate

Detailed text transcripts for TV channel - FOXNEWS - 20120516:10:24:30

Detailed text transcripts for TV channel - FOXNEWS - 20120516:10:24:30
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