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'Not One Cent'? ... Yeah, Right!

Title:

'Not One Cent'? ... Yeah, Right!

Published: Mon, 3 Aug 2009

Description: Is Obama about to break a promise not to raise taxes on the middle class?

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Automatically Generated Transcript (may not be 100% accurate)

" President I'm not raise taxes on -- middle class now that depends on who you ask. Pres Obama says no."

" I could make it April -- under my plan no family. Making. Less than 250000. Dollars a year which includes -- 9%. -- small -- owners. You -- your taxes increase one single dime under my plan -- your income to act like your payroll tax not your capital gains tax. -- that we don't need to raise taxes on the middle left you will not. -- your taxes increased a single not."

" Well that was the president and over the weekend Treasury Secretary Tim Geithner was far less concrete."

" The president has -- the taxes won't go a lot. For any Americans earning under two and 50000 dollars but it doesn't appears to really keep that promise. If you're gonna bring the deficits down to who again we can't make -- judgments yet about exactly what it's gonna take and how we're gonna get there. But the very important thing and no one is gonna care about this more than president -- states. If for people to understand that we did not have a choice is a country."

" Why does economic adviser Larry Summers was asked about secretary -- there's comment does Summers thinking a new round of taxes is coming for middle class Americans."

" Call -- a lot -- Over time. A priority. Right now actually use is never a good idea that's absolutely. Cool things rule -- out no matter what."

" Today press secretary Robert Gibbs tried to clear up the confusion."

" Let me -- plus the president's clear commitment is not to raise taxes on those making less than 250000 dollars a year."

" So is little class going to get -- tax -- or not former Arkansas governor Mike Huckabee joins us live -- governor and governor I'm. It seems that the president -- Press Secretary say no to tax -- middle class but then just yesterday. To me is -- cabinet secretaries are -- suggestion something very different so. Any idea what's going --"

" Well Robert Gibbs had a double that grenade today because it was go on off and Summers and Geithner did the unthinkable they spoke the truth they said whatever body with a brain understands. You can't keep spending money like this. And run up these deficits without at some point having to pay for tax revenues are down the economy is hurting people don't have jobs for that I have a job -- not paying taxes. And at some point. The president is stock with either having to do what he's been doing a lot lately and that's breaking promises. -- is gonna have to continue to tank the US economy but what I think he ought to do -- to start looking at ways rather than buying everybody a car. Is suspending the payroll tax for a particular period of time and putting that money into the hands of consumers so they can make the decision that would make a lot more sense."

" By the Associated Press is reporting that we are and the biggest tax revenue drop since 1932. That even -- income tax -- the government feeds itself essentially down 22%. Corporate income taxes down 57%. And we're spending."

" My drunken sailors that's not a very good recipe. Well it I think it's a real insult to the drunken sailors they don't spend more than -- have in their pocket. And they don't spend out to you know their their next twenty paychecks we're spending out into the next millennium. And that even the health care proposal when you hear how much this is gonna cost. What they're not telling you is that the real cost factors coming years eleven through twenty -- years one through ten. So that deficits are piling up and and Barack Obama's answer to that is. What's pull out our wallets and spend some more money are actually -- pull out the wallets of American taxpayers and spend some more money. Winning the discussions been the last 24 hours here in Washington between the White House and that Treasury Secretary and Larry Summers. My guess is that there was some wood -- going on. Just realizing that this really erupted. In a very unpleasant way. All these members of congress going home to recess. Every time they -- at a town meeting they're getting an earful it's almost like they forgot who they worked far. They don't work for Nancy Pelosi they don't work for Harry Reid they don't work for Barack Obama they work for the American. Taxpayer. And the taxpayers are infuriated. Because they had enough sense to know. That this spend -- Hollis and that we have seen is simply not working out more Americans out of jobs. And -- at some point. If -- really it's. Strapped for cash the first thing you do is you stop spending what you don't."

" Half. Well what people don't realize too is it if we if we end up having to print more money we're going to get -- is ever gonna get inflation. And some people think was -- I'm working my wages are gonna go up would be -- would be inflationary prices the problem is. Is that now that we're part of a global economy is the rest well it's not gonna wanna -- prices at the -- goods at these high prices so. It's a much more serious problem on inflation -- even 2530 years ago we inflation."

" It's a huge problem you just mentioned that people don't want to fire deaths we have. Pretty amazing things the -- talking about a new monetary standard and not the US dollar. These are unprecedented kinds of conversations taking place because people simply don't have. Confidence Geithner went to -- Asia try to -- everything is fine and they literally laughed at him. When he tried to tell them that everything was just great with the American economy that's a that's a horrible situation for us."

" Governor thank you and don't forget to watch the governor every Saturday and -- not end at 8 PM eastern and guess what the Imus show us Huckabee."

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