uh... pan and never deal that happened recently
foreign how this deal
happens rate after the new year
when the republican said that you know what
uh... we didn't vote for tax increases the tax cuts had already expired
rewarded
factually
reduced taxes which is actually
totally truong about her and the second
but before the market's open
on wednesday morning
you wouldn't want upset the markets now a lot of the newspapers and outlets for
exceeding this completely wrong let me give you two examples
politico says quote
the president fresh off a strong re-election victory
tested and ultimately broke the republican party's fidelity
dudes tax cuts
only governing philosopher
broke madam in brooklyn there's only prob
he got on the issue of tax cuts which is more political sorry about
no concessions from the balls
when we say women are just watch t_v_ all day you talk about og impromptu and
concession
uh... now
the tax cuts
had or read the expire
so what they wanted on was anew
home round of tax cuts
in baghdad grant access that applied to
ninety nine percent of the people in the country
then mine
basically saying that we are
continuing the march tax cuts for ninety nine percent of the country bank still
not obligate president
democratic president
brocco obama agreeing with the republicans say yeah you know what
which actually do jagged peak tax cuts again
now the new york times also gets a wrong they say
mister obama succeeded in forcing senate republicans to raise the top income tax
rate to thirty nine point six
from thirty five percent despite their adamant opposition
although he greeted apply
that to household income above four hundred fifty thousand dollars a set of
two hundred fifty thousand
he also won an increase in taxes on wealthy states
to forty percent from thirty five percent
though it was not as high as liberals want it
now that's just
not true he didn't get
does concessions
so for example a state tax
did not go from
thirty five forty percent at what the battle bomber resist a tax now
as some of the west texas expired which they did on january first
the state tax with a fifty five percent
well but i did
was heat cut the estate tax
from thirty five percent
dot author
donna forty percent
so what do you go
he extended the great majority
of the bush tax cuts
and now on incomes
about two hundred thirty thousand dollars
he also got no concessions
those tax cuts had already spends at least planned over and over again
and that's why a m reasons although it is that the most common sense for a
while
what jane walked twenty they really thought charlie's your only one
hundred-percent wrong about that
he turned up nothing
before
an incredibly where moment
the laws were sent
to a progressive advantage
the tax cuts
had expired he did nothing all you would have to do the next phase introduce a
bill saying
head lady of the middle class the tax cut
and paul had republics your vote against that
people like tom cole republicans oklahoma said there's no way in the
world we could vote against that
that is the
easy is laid up in american political history the republicans were going to
block a middle-class tax cut
and the tax cuts for the anytime now
had or read the expired
world bombing did was he
gave l
love their tax cut now to people not just under two hundred two thousand as
you promise
but before the band doesn't
what's interesting is that i remember a president tell me two hundred and fifty
thousand as the number
jedidiah repeat that over and over
asi erica's he's our producer who put this clip together
russia's president obama
and you can judge on your own if he thought the two hundred fifty thousand
was the number
i called on congress
tech media we stop the january first tax hike from getting any american on the
first two hundred fifty thousand dollars of their income that's why i'm calling
on congress to extend the tax cuts
for the ninety-eight percent of americans
who make less than two hundred fifty thousand dollars
and i can make people on pledge
under my plan
no-fat
less than two hundred fifty thousand dollars a year
wall street any form apac nichols when it comes to
the top two percent
what i'm not going to do
is to
extend it further
a tax cut for folks who donated but the other two percent of americans will have
to pay world war on taxes on anything they make over two hundred fifty
thousand
i'm not going to ask students and seniors
and middle-class families
to pay down the entire deficit
well people like me making over two hundred fifty thousand dollars
are asked to pay dime more taxes
we'd all agree that no american should pay more taxes on the first two hundred
fifty thousand dollars of their income
in other words ninety seven percent of small businesses
fall under the tour of the two thousand dollar pressure and i just want to point
out this was a central question during the election
it was debated over and over again
this central plate in the election debate over and over again
something the president obama said that he would not
concede on that list is lying to us from santa ana vendi thousand
have anytime someone
two million valance
and what are you
oddball
lucy's present no almighty conceded
and on
no reason
so let me give you the details of the plant
so ninety nine percent of you get a pragmatic cut
the bush tax cuts were better than this 'cause they were set to expire
that's why we have that what we had today was what we had that
at the same kind of fighting twenty ten because they were sent to expect
these are not set to expire
for the rest of time people megan and reported to be thousand organ of the
bush tax cuts which now should be called the old bomb a tax cuts
andy brag about that as if like paula we got your taxes
no no no you're not going to ads
tax cuts are republican idea and that we have a under bush and they didn't work
the tax cuts do not bring you a better economy that is not how it works
we had the clinton or rates during clinton
we had twenty three million jobs created we give tax cuts under bush we lost jobs
so it doesn't work stop bragging about it it's not a progressive idea
now it gets worse
capital gains in dividends
uh... permanently set at twenty percent for income above more than fifty
thousand a four hundred thousand was explained that real quick
academy is when offered fifteen to twenty
of capital gains have been historically low it it was never justified totally
unfair but it is what it is again our brothers our tabloid six
we're nowhere near that
but dividends where thirty nine point six the tax cuts expired they were
thirty nine point six
all baba brought down to twenty percent
and the evidence s i give you have a stocking they pay you and evident right
now if you want really hard to digging ditches your dentist or whatever you
happen to be you every thirty nine point six and you're looking at the at the top
one percent or the top bracket
now another had to be getting dividend
often income the you've already made
now you don't have to pay for nine point six just sit at home press couple bonds
get
at a twenty percent now what is that fair
i've totally unfair
but thanks to president obama and his brilliant negotiations
that's what we have today but he gets worse carried interest
carried interest is simply the income
that private equity in hedge fund managers
make those in the wall street guys not all of them but some on wall street guys
it is not investment income
is not only income
it's like a dentist doesn't really he gets paid fort they do the investment of
other people's money they get me borders and go
but they have a loophole that allows them to pay twenty percent
thanks to president obama that's seven thirty nine point six but it's not
it's not twenty percent
permanently
yes somebody could fix the laws of another time
organ like trying to these republicans now the laws are set to vera damage to
do another tax increase when
and go after those hedge fund in private equity guys to prepare for sure that's
all we're asking for
is that gap is not going to happen
because these are the new permanent all bomb a tax cuts
and we're not done yet
then we had this state tax
this a tax will be set up forty percent
with a five million dollar exemption
what was it
under the bush
planet was thirty five percent
as soon as it expired and jennifer's
it was fifty five percent
what it all mama new in his great deal where he got to republicans did concede
on taxes where you broke that popped up
he loaded down forty percent
when the top two states and the country which does not apply to you a little
issue armando wealthy exemption is five million dollars for a couple weeks
and million dollars anyway ten million dollars
and they say tax
does not apply
it sure every dollar above ten million for the couple vagal wealthy
he can wait fifteen percent
you see but when you do that that we can
called up
poor we can't feed the hungry we can't educate the next generation
because that's part of what the rules that we need money it's okay to say hey
you've done a great in this country has the opportunity you have received
can you pay back a little bit
now they pay back less and less and less
because the greedy keep on winning
and they have won again
and a guy who agrees with that
is the leader of the greedy
grover norquist the leader americans for tax reform
went on television
and brag about winning
look at what he says here this is actually true please
so how does the physical of deal not violate that pledge it's technically not
a violation of the pledge but i understand why a lot of republicans
has said look
his justice
and where restoring them for most people so we're not raising taxes were actually
cutting taxes you're saying because the bush tax cuts have expired yesterday
yesterday that because you gave me a slate expired yesterday technically
these are still tax cuts
but that's
absolutely true
so is like a most unusual arts
if you don't know if they
ed can't increase is one of many
image from the rich
and here is the head of the various returns from the guy that all these
politicians find a place to say they'll never raise taxes
are just one
idiots
you gave me what i want
in fact he gets a little bit more clear about
the skull visit of his victory in the next week
keep in mind how much of a retreat that says for the modern democratic party
the democrats has spent twelve years attacking the two thousand one two
thousand three bush tax cuts they all voted against it uh... obama attacked it
regulate now they're out there helping to preserve about eighty four percent of
those tax cuts and making them per minute
boots
the only problem that is that unfortunately he's totally right
it's four ninety nine percent of americans
it preserves eighty four percent of the revenue of those tax cuts
including for the rich
even if you're a billionaire
you don't have paid extra taxes on between going to be imported verdi
in fact between zero and four hundred and fifty
let alone the money you save our state tax carried interest dividend capital
gains in the list goes on and on let alone the extra mask are great to be
gone for seventy million dollars
and other goodies thrown in for goldman sachs that would give a new tax
advantage for them to build their new place
in new york and the list goes on and on
and then base it on o_j_ you don't understand you have to do a deal yet
because i'm not a lot of ablaze we had a retard so what were those well
the earned income tax credit
the child tax credit doctor american opportunity tax credit and unemployment
benefits continue but now most
pretzels listening to those of effects
first of all on all those tax credits that actually help middle-class
americans
they're not permanent
they expire five years
the rest of permanent that going to set the rules against you so they're less
likely to be continued an unemployment benefits while their their permit right
extended for one year
tax cuts per minute
unemployment one year
congradulations
what i don believable deal for you guys
and by the lamp every single one of those policies and i just listened
as a good things that we quote on quote one
we could a one
easily
because when aren't one of their district cut by the republican not long
ago in twenty ten several i think that it
other republics red i was a lot of extreme radical ideas that are gordon
said this is what senator he does not represent the caucus
they warring as one e seven e eight a ninety wide cutting unemployment
benefits
and in all this other company is
gently on popular
if i'm president i'll let the tax has expired then all you are played out
i want the benefits
have at heart
i will get those unemployment benefits and i will be june fourth
it's an easy win even the republicans thought it was an easy win
back into twenty ten they still think it because they can't believe complexes
guys getting out
finally thing about it this way
remember when all this negotiations began president mama said that he wanted
one point six trillion dollars annexure evan
well the regional obeyed our offer when he finally came back and offer was not
to be a hundred billion of it
what was a final deal
six hundred billion in rome
lore
then bainer is original offer
congratulations
well played
that's the kind of three-dimensional chess
i must not be well-versed in it
finally but
the uh... white house no as elect a new york times
that when progresses criticize them
basic ward
the criticism
has irritated the white house
all-time so-so red-haired irritated you with facts