>> THE SENATOR SAID THE
CONGRESSMAN WAS KEY.
>> YES.
>> THE BIG TOPIC, CAN YOU COME
BACK ON THAT?
>> SURE.
>> LETâ€™S TALK ABOUT THE MATTER
AT HAND, HOW ARE WE GOING TO GET
THIS PLANE LANDED?
>> WEâ€™VE GOT TO GET THIS PLANE
LANDED BY TWO THINGS.
WEâ€™VE GOT TO PROVIDE REAL
SUPPORT FOR THE AMERICAN PEOPLE
AND A MEANINGFUL ATTACK ON THE
CLIMATE CRISIS, AND WE GOT TO
PAY FOR IT IN A WAY THAT WORKS
TOWARDS JUST UNRIGGING THE
SYSTEM A LITTLE BIT.
THOSE ARE THE TWO PIECES WEâ€™VE
GOT IN MOTION.
ITâ€™S ALWAYS HARD TO SOLVE A
BUNCH OF THINGS AS ONCE BUT I
THINK WEâ€™RE MAKING PROGRESS.
>> THATâ€™S SO INTERESTING.
AT THIS POINT THEREâ€™S A LITTLE
BIT OF A RUSH THOUGH, DONâ€™T YOU
THINK, KATTY KAY, JUST IN TERMS
OF THESE ELECTIONS WE HAVE WITH
THE MIDTERMS COMING UP.
I FEEL LIKE THE DEMOCRATS REALLY
NEED SOMETHING THAT THEY CAN,
YOU KNOW, WITH MEAT ON THE BONES
THAT THEY CAN REALLY RUN ON IN
THE FINAL DAYS OF THE ELECTION.
I MEAN, WHEN WEâ€™RE LOOKING AT
SOME OF THESE CLOSE RACES, TERRY
McAULIFFE HERE IN VIRGINIA, IT
WOULD HELP, WOULDNâ€™T IT, IF
THERE WAS SOMETHING THAT HE
COULD SAY THAT WE GOT DONE, THE
DEMS GOT DONE?
>> I MEAN, DEMOCRATS IN THE
WHITE HOUSE, ECONOMISTS IN THE
WHITE HOUSE, DEMOCRATS ON
CAPITOL HILL HAVE BEEN SAYING
FOR WEEKS NOW, LOOK IN HISTORY,
WHEN WE LOOK BACK AT THIS, WHAT
WILL MATTER IS WE GOT IT DONE.
THEY WONâ€™T MIND A COUPLE WEEKSâ€™
DELAY.
NOBODY SAID FDR, HOW LONG DID IT
TAKE?
THE AFFORDABLE CARE ACT, NOBODY
CARED IT WASNâ€™T UNTIL MARCH
AFTER PRESIDENT OBAMA WAS
INAUGURATED BUT ON THIS, THEREâ€™S
A DEADLINE.
THE PRESIDENT IS LEAVING ON THE
THE 26th.
IS THIS A DEADLINE TO LOOK AT
FOR CONFIDENCE?
>> YES, ITâ€™S TIME, ITâ€™S TIME FOR
US TO GET THIS DONE.
YOUâ€™RE EXACTLY RIGHT, WHAT
MATTERS MOST OF ALL IS WE DO THE
RIGHT THINGS, BUT IT ALSO
MATTERS THAT WE GET IT DONE.
I THINK WEâ€™VE REACHED A POINT
WHERE WEâ€™RE ALL KIND OF SAYING
THE SAME THING TO EACH OTHER.
SO DELAYING THIS ANOTHER MONTH
OR THREE MONTHS OR ANOTHER SIX
MONTHS, ALL THAT DOES IS GIVE
THE LOBBYISTS MORE TIME TO COME
IN AND JUST CONTINUE TO SWARM
OVER EVERY ASPECT OF THIS.
SO WEâ€™VE GOT TO MOVE BECAUSE WE
ALSO NEED TO GET IT DONE NOW
BECAUSE WE NEED TO BE DELIVERING
NEXT SPRING, NEXT SUMMER.
WE NEED TO MAKE CHANGE IN THIS
COUNTRY.
CHILDCARE, MOMMAS CANâ€™T WAIT
YEARS AND YEARS TO GET THIS
DONE.
THEY WANT SOMETHING AND THEY
WANT IT NOW.
SAME SORT OF THING ON CLIMATE
ACTION, WE CANâ€™T WAIT ANOTHER
DAY.
THE URGENCY OF WHAT EACH OF
THESE PACKAGES IS ABOUT IS
ANOTHER THING THAT DRIVES US
FORWARD.
>> ALL RIGHT, JOE, JUMP IN.
I THINK THE AUDIO WORKS NOW.
>> SENATOR, I HOPE YOU CAN HEAR
ME ALL RIGHT.
>> I CAN.
>> FANTASTIC.
SENATOR, THE HOUSE BILL -- THE
HOUSE TAX BILL PLAN REALLY
DOESNâ€™T GO AFTER THE 400 RICHEST
FAMILIES IN AMERICA.
IT GOES AFTER PEOPLE WHO MAKE
INCOME AND NOT PEOPLE WHO MAKE
TENS OF BILLIONS OF DOLLARS ON
CAPITOL AND JUST REINVESTING.
400 OF THE RICHEST FAMILIES IN
AMERICA, AS YOU KNOW VERY WELL,
THEY PAY ABOUT A 7% TAX RATE.
SMALL BUSINESS OWNERS IN YOUR
STATE THAT ARE SUCCESSFUL PAY
37% TAX RATE, WHO MAKE BILLIONS
OF DOLLARS LESS THAN THEY DO.
I GET THESE NUMBERS FROM
PROPUBLICA.
WARREN BUFFETT, A GUY WHO
ESA-ALWAYSIS
ALWAYS TALKING ABOUT TAX ME,
THATâ€™S FINE.
WARREN PAID 24% ON A BILLION
DOLLARS MADE.
JEFF BEZOS MADE $973 BILLION AND
ONLY PAID 0.98%.
AGAIN, SMALL BUSINESS OWNERS IN
MASSACHUSETTS PAY A TAX RATE 36%
MORE THAN JEFF BEZOS AND ALMOST
A TRILL DOLLARS.
WHY CANâ€™T THIS GET DONE?
WHY CANâ€™T THIS GET DONE IN THE
HOUSE?
>> SO YOU PREACH TO THE CHOIR ON
THIS ONE.
YOU KNOW THIS IS EXACTLY WHAT I
WANT TO GET DONE.
HEREâ€™S THE THING, HERE IN
WASHINGTON, THE VOICES OF THE
BILLIONAIRES ARE A WHOLE LOT
LOUDER THAN THE VOICES OF ANYONE
ELSE.
THEY HAVE ARMIES OF LOBBYISTS.
THEY HAVE ARMIES OF LAWYERS.
THEY HAVE ARMIES OF PR PEOPLE
WHO NOT ONLY ARE SWARMING EVERY
OFFICE HERE IN WASHINGTON, BUT
ALSO TRYING TO STIR PEOPLE UP
ALL ACROSS THE COUNTRY.
THEYâ€™RE TELLING LIES ABOUT A LOT
OF THESE PROGRAMS, TRYING TO GET
PEOPLE TO CALL THEIR SENATORS,
CALL THEIR REPRESENTATIVES,
BECAUSE, LETâ€™S FACE IT, A BUNCH
OF THEM JUST DONâ€™T WANT TO HAVE
TO PAY MORE IN TAXES.
YOU KNOW, THEYâ€™VE BEEN RUNNING
THIS SCAM ON US FOR, WHAT, 40
YEARS NOW?
OH, YOUâ€™RE ALL GOING TO BE
RICHER, IF ONLY THE RICHEST
DONâ€™T HAVE TO PAY ANY TAXES.
I THINK WE JUST FINALLY REACHED
A POINT WHERE NOT ONLY DID THE
AMERICAN PEOPLE SAY ENOUGH, WE
MIGHT ACTUALLY GET PEOPLE ON
CAPITOL HILL SAYING ENOUGH.
SO THATâ€™S WHAT WE GOT TO DO.
>> I WAS GOING TO SAY, SENATOR,
DEMOCRATS ARE IN CHARGE OF THE
WHITE HOUSE, DEMOCRATS ARE IN
CHARGE OF THE HOUSE, DEMOCRATS
ARE IN CHARGE OF THE SENATE,
DEMOCRATS NEED TO LISTEN TO YOU
BECAUSE ACTUALLY WEâ€™VE TALKED
ABOUT THIS BEFORE, THIS ISNâ€™T
JUST A LEFT WINGED THING.
THIS IS GOOD CONSERVATIVES, GOOD
LIBERALS CAN ALL AGREE JEFF
BEZOS, LOVE HIM OR NOT,
SHOULDNâ€™T PAY 0% IN TAXES, ELON
MUSK SHOULDNâ€™T PAY 0% IN INCOME
TAXES.
ALL OF THESE BILLIONAIRES, NIKE
THIS YEAR PAID 0% IN TAXES,
ARCHER DANIELS MIDLAND, 0% IN
TAXES, OIL COMPANIES OVER THE
LAST COUPLE YEARS, 0% IN TAXES.
WHO CAN SUPPORT THAT, AND WHY
CANâ€™T DEMOCRATS AND REPUBLICANS
COME TOGETHER ON THIS?
>> RIGHT, LOOK, YOU HAVE TO TALK
TO THE REPUBLICANS ABOUT WHY
THEY THINK THATâ€™S OKAY, BUT OUR
JOB RIGHT NOW IS TO GET ALL 50
DEMOCRATS IN THE SENATE ON THE
SAME PLACE TO MOVE FORWARD.
AND ITâ€™S TWO PIECES EXACTLY AS
YOU TALK ABOUT.
ONE IS THE BILLIONAIRES
THEMSELVES.
JEFF BEZOS, HIS INCOME IS LESS
THAN THAT OF A PUBLIC
SCHOOLTEACHER IN BOSTON.
SO HE PAYS LITTLE TINY TAXES.
IF YOU RAISE THE RATE OR PUT AN
EXTRA SURCHARGE, YOU KNOW HOW
MUCH YOU GET?
NOTHING OUT OF THAT.
THE SECOND PART IS WHAT WE HAVE
TO DO FOR THE GIANT
CORPORATIONS.
AND THERE WEâ€™VE GOT A MINIMUM
TAX THAT ONCE YOUâ€™RE OVER A
BILLION DOLLARS, YOU HAVE TO PAY
THIS MINIMUM TAX.
SO BILLIONAIRE INDIVIDUALS,
BILLIONAIRE CORPORATIONS,
THEYâ€™RE GOING TO HAVE TO PAY UP.
>> GENE?
>> SO TELL US ABOUT YOUR MEETING
WITH SENATOR SINEMA, HOW DID
THAT GO?
WHAT DID YOU TALK ABOUT?
WHAT DID YOU DECIDE?
>> Iâ€™M NOT GOING TO TALK ABOUT
PRIVATE CONVERSATIONS, BUT I
WILL SAY THIS, I THINK ITâ€™S
REALLY IMPORTANT TO NOTE, AND I
WANT TO TALK ABOUT DEMOCRATS
BROADLY, WE UNDERSTAND THAT THE
GAME IS RIGGED, AND WE ARE
LOOKING FOR WAYS TO UNRIG IT.
WE UNDERSTAND THAT SIMPLY TAXING
INCOME AT A HIGHER AND HIGHER
LEVEL -- AND UNDERSTAND Iâ€™M
WILLING TO RAISE THE MARGINAL
RATES ON TAXES, BUT ITâ€™S NOT
ENOUGH.
THE BILLIONAIRES AND
TRILLIONAIRS THAT WE MAY BE
HEADING TOWARDS LAUGH ALL THE
WAY TO THE BANK WHEN WE DO THAT.
YOU THINK ELON MUSK CARES WHAT
THE MARGINAL RATE IS?
WHEN HEâ€™S NOT PAYING ANYTHING,
JEFF BEZOS NOT PAYING ANYTHING.
THEY DONâ€™T GET IF THE MARGINAL
RATE GOES TO A BAZILLION BECAUSE
THE WAY THEY FIGURED OUT HOW TO
EXPLOIT THE SYSTEM MEANS THEY
NEVER PAY.
I THINK OF IT THIS WAY, WE
DECIDED A LONG TIME AGO, MORE
THAN 100 YEARS AGO, WHEN YOU GET
RICHER, YOUâ€™RE GOING TO HAVE TO
PAY SOME TAX ON THAT.
GREAT, PROGRESSIVE TAXATION.
FOR PEOPLE WHO EARN INCOME, W2,
DO IT WITH A SHOVEL, YOU PAY
EVERY YEAR, WE ALL KNOW WHAT
THATâ€™S LIKE.
BUT FOR PEOPLE THAT HAVE A
LITTLE SOMETHING TO START WITH
AND SAY THEY BUY STOCK AND SIT
ON IT, THEY GET RICHER BUT THEY
DONâ€™T ACTUALLY UNDER THIS QUIRK
IN OUR TAX LAWS, THEY DONâ€™T PAY
FOR YEARS AND YEARS AND YEARS
AND, IN FACT, IF THEY DIE NEVER
HAVING SOLD THE PROPERTY, THE
NEW BASES GO TO THEIR HEIRS AND
THEY LITERALLY NEVER PAY.
ALL WE TALK ABOUT DOING HERE IS
SAYING EVERY YEAR, EVERYBODY
PAYS FOR HOW MUCH RICHER YOU
GOT.
>> SENATOR ELIZABETH WARREN,
GRATEFUL FOR YOU.