Stay updated with breaking news from Tax rateses. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
A point, neil. economics is a very dynamic social science. there is a latin phrase that means, all things being the same. the democratic policy approach is everything s the same. we can increase tax rateses or in france, we can increase them to 75% and everything else will be the same. but that s not how it works. it s a very dynamic world, where incentives mean something and punishments mean something. so when someone says, we are going to take in california, as mickelson said, we are going to be taking 60-odd percent of your income, or in france, the state s taking 75% of your income, people with the means to move will say, there has to be a place that would be happier to have me and would not neil: that has been nevada for a lot of californians. there has been a money flight from california for sometime now. mickelson put a face to it. ....
i think a lot of senate democrats would like to see that. i also bring up social security. jay carney mentioned social security could be part of some grand bargain. senate democrats especially harry reid do not want to such social security. so i think there will somebody road blocks there. it will take negotiation through all three chambers to get something done. two chambers, excuse me. andy, who blinks first? i would say the president has more leverage at this point. after the election, there s been a lot of soul searching on the republican side about can we not appeal to latinos, are we losing women. and if we do go over the fiscal cliff, there s a chance republicans will get blamed for that and they could lose support in the business community. there s another factor here. if all tax rateses for americans rise on january 1st, the president can just come back and say, hey, i ve got a great idea, ....
The invited, is you guys are going to recite everything you are against and that there is no added wisdom if that. what do you make of that? guest: we are against any policy that harms economic growth. we realize we need revenue but we need to raise increased rest my by growing our economy. the worst possible thing we can do in this weakened economy is officer tax rate and that is all the president wants to do, that is what the democrats want to do, they want to engage in class warfare and i don t see how that helps our economy at all. it disspirits our society. we need to 70 vice people to achieve the maximum potential so increasing tax rateses is the wrong thing to do. neil: what about getting rid of allowances and breaks, and maybe, write offs that the oil ....