there's a tax that increase that not a lot of people are talking about it's the
payroll tax cut that was taken away m_m_ president mama had pushed for the
payroll tax cut
but this time around he didn't push it all and it's gone now
i don't mind that because act i think that a
project reso security peeps you came away from the payroll tax break
now and i'm not a fan of tax cuts
but i understand it
but there's a tax cut that actually everybody should be talking about
because it affects one hundred and sixty million americans
in fact
it's eighty dollars a month ago some quick math present us nine hundred and
sixty
dollars a
near
if you're making fifty thousand knowledge is that every salary in
america
so as a thousand dollars out of all of our pockets of a hundred and sixty
million people
but hardly a word of sad about that meanwhile recite about like off mike dot
there is the heads-up people making room for them that it does not like a little
bit
by a little bit more well while by the way quietly hearing them finished
explains
'em something actually cared
which is carrying tristan gains estate tax dividend et cetera right
so but that's not the only giveaway
because you're not going to get a deal without their cooperation of
corporations
goes in fact corporate cash means the world certainly rules america that you
might interest because
a lot of the c_e_o_'s when the white house recently sometime but how they
were in favor
of raising taxes i think really why would they say that your member they had
this meeting
some of the nation's top c_e_o_'s urging washington to abort the so-called
physical plant
the c_e_o_s of g_e_ american express pepsico honeywell and heidi m among
those meeting with president obama i think you'll start to see the president
exercise some more leadership here and be more up front on everything
getting across that point about how we need to work together the business
roundtable a lobbying group of the country's leading c_e_o_s
began running print radio and web spots to pressure congressional democrats and
republicans
to set aside their differences
so now i would be do that
why would the pressure republicans anyone run ads in favor of a deal where
their taxes would be rates
because secretly
they were getting
tax cuts that were much marker
then the small increases on the top bracket
so let me tell you about that first
the smaller ones
down as far as you might have heard is gonna huge break
book that you might not know how much money they spent
well nascar spent three hundred thousand dollars lobbying and international
speedway corporation which is also of course related
to nascar racing spent one point one million dollars in lobby now that's a
lot a lobby one point four million dollars when they get in return in this
tax bill
well they got one hundred and forty one million dollars in tax breaks
through twenty seventy let me do some quick math for you
you spent one point four million any a hundred forty million back that is one
hundred times your money
is there a better place to go if you want to make money than the united
states congress
you just go on handout
little bit of money they give me a hundred times
in return now if they're not alone that tax credits for railroads for
maintaining their tracks
a hundred sixty five million dollars a year not in favor railroads but i
believe their primary job is to maintain their tracks
why my pain under this is the five million dollars
to make that happen
they lobby millionaire hundred answers to my million dollar subsidy
how about hollywood hollywood is very connected to the democratic party
well we're having our guests are weighing so they get a hundred and fifty
million dollars in subsidies
monique sense of it does that hollywood is a fairly profitable
industry
they don't really need to many subsidies but hey if you have friends in high
places you get those subsidies anyway
but that's all small potatoes
until you get the wall street
now wall street is already fix the rule so much to their advantage
that between two thousand me twenty ten in other corporate tax rate is thirty
five percent
their effective tax rate in in other words their rate the actually paid
was fifteen point five
reducing quick reference
that was about twenty percent last not nap in reality of course is more that a
it depends on how you do not
thirty because of a thirty five eighty eight fifty
but this was made thirty by me only paid fifteen that you actually saved over a
hundred percent
in terms of money you were supposed to be paying
lobbying is a great idea and i used to call
their accounting office where they were suppose they can to propose
like a lot of corporations they didn't
they called it a profits at
because how do you make properly without actually sell things that people by men
he discovered that we need a tax breaks into a small bowls
so you tell us a list examined in your pocket
we're just getting to the meat of the stuff we haven't even gotten to the best
part
the amidst corporate c_e_o_'s argued for two exemptions that were very specific
what was called the pastor exemption
it's an accounting trip would be a trick
where you get to do a four a subsidiary paso money through the force of sherry
and then you don't have to pay the taxes
on that but won't
they saved one and a half
billion dollars
for just two years
now that's what i have good also suppose come american taxpayer
paper it is education paper you wrote your bridges
your concert by men
but it's gone
it's back in the corporations pockets
wife so that's the way they went out there now i i don't think we should do
it is the idea
yet mike tyson to go up a couple of hours a week and then you give me a
one-half billion dollars today
and i'll make this thing happen for you
corporations one in this country there's no reason for that to go through what i
happily in dollars our part mistreated the biz but we're not done yet
now parlor way that they do all this
there's this guy a group called aca finance working group direct represent
just
twenty corporations and they want a very specific loophole and partly they did it
was they went to a four top democratic congressional eight-term lobby steve
island or
now if this guy is very powerful and watch them of the top lobbyist and he
just hollander
earn one point two million dollars in lobbying fees for just this one leupold
active finance working group
was pushing for
and as a group of twenty companies including
j_p_ morgan g_e_ also i think she ec l was born that story we showed you
earlier
and uh... for quality also work with the administration
and so december will pull the big at the mister spoke with bill
with almost none of the press paying attention
they got a gift
of eleven point
too
billion dollar
that's just over to you
and that's how it works there
the reason they wanted their c_e_o_s wanted
uh... the government the signed that deal
is because when you just put him in the blast things engines i told you about
they got over twelve billion dollars
to be in favor of the deal bought me a call plane does it mean that that don't
go
and this is our government works nothing gets done uncle corporation say you give
me the money for
the pain most everyone else
the money comes to me
sphere which would live find their ceo goldman sachs during all this while he
was pretending to be in favor of tax increases
also said this on film
you're going to have to
undoubtedly do something to lower people's expectations the entitlements
and what people think that they're going to get not because it's not gonna
they're not gonna get it
now and i know you're not gonna get it
wasn't i miss you so i was so stream editing conduct i think that that went
along your expectations
did all the sax lowered their expectations in this deal as usual
they got the one point six billion dollars tax-free financing
for their new headquarters in
downtown new york
that's cool that basic no it's because of nine eleven
that's probably your liberties though
who are we liberate one point six billion dollars and having over a new
goldman sachs direction
and that guy has a nerve
to go on t_v_ talk about how you
you have to sacrifice your social security medicare while he knows
that deal
is actually getting hit him and email almost tax
not texting present acts
we are robbed
dan and day out
by these guys who've set up a legalized bribery system in america
and bar politicians
both democrats the republicans work for these guys the don't work for us