Final Push

" Final push is on house Democrats working feverishly. Right now to -- massive health care bill. Yes as we find out more than 10% of Americans are now out of -- we haven't seen the unemployment rate this high. Since 1983. And some here say the last thing our job market needs is this health plan they're pushing in DC. Are they right or wrong hi everyone I'm Brenda -- that thing is Bulls and Bears let's get right to. Then there's this week here ethernet Tobin Smith pat Dorsey air balling along with democratic strategist Mary and -- while everybody. Okay air act health care bill and helping -- have."

" Listen here's what it is seventy to 75%. Of all jobs in the country are small business employers -- here's the thing we all know about this health care bill. 1990 pages. You know you know about the public option that would hurt him we know about the mandate that -- but did you know things like there's been there. There's a provision for insurance czar who can dictate how much insurance employers are gonna have to provide for. -- is also not just full time workers. Part time workers have to be insured. Also 75%. Of small businesses will be affected by this. All so you wanna talk -- reform -- the opposite of tort reform there's actually some green -- provisions in there that allow for lawsuits allow for. Four employees to suit or employers. You know you're talking about a whole list of things to make small business sick in the health care bill."

" how is -- good for jobs. It's exactly what people need to create -- effective businesses are gonna get tax credits especially those small and medium size businesses they're getting crushed by health care costs right now. -- they're gonna be able to reduce their costs and that means more money in their pockets to hire employees expand their businesses grow that's good for the economy. You gonna bring competition and the health area that means employees are gonna have to pay less and the fact is that means more money in their pockets that they can spend save and invest. That's exactly what this economy needs we need to hire more people people need to spend and invest more and health -- competitions gonna -- that marriage -- arrogant lately."

" A small business. I don't lay people -- because they're deathly afraid of this bill not because they're looking forward to it they're cutting jobs now in anticipation not being able -- people down the road."

" Well and tell -- part of getting crushed by -- now well. Part of the reason that that you heard that you left uncovered is that inflation. Isn't even an issue in here so the the amount of them -- the people are going to be paying have a lot more than it."

" Well at first I didn't I didn't call us a health care plant it is -- tax plan. First rights second right and look at what are the things they -- it was this idea that they're not gonna index this this new surtax to inflation which simply means. -- you know if inflation goes higher. Beat the 500000 dollar income levels would -- 400 than 300000 and that's estate taxes and it keeps on giving every year. It's going to be 900 billion dollars in based on our numbers that means they are going to kill. Five million jobs and that's probably you know the relic from the congressional department of joint -- taxation groups so to say this is creating jobs -- at these guys are getting crushed. This is the entire point."

" We'll Gary be -- and does say that there will be some tax pats had a day. Way on and on this side of the the scales as opposed to the penalties that they may have to pay."

" Exact -- and see -- lot of tax cuts in here I see attacks. Going to 45%. Marginal rate for those businesses. And the people that matter that make over a million dollars and let's just forget about that does the people I'm sure -- write that off as well let's just tax the wealthy. A lot of these million dollar people are really subchapter SR LLC corporations. They're gonna get killed so if you're facing a marginal tax rate of 45% I find it hard to believe. That you're gonna be out there looking to -- all my -- times are great let's hire more workers. Tubby mentioned the inflation part what about the 8% surcharge or to actually get if you don't. Offer. Health insurance -- supposed me billed now as a player -- we all know what that's gonna evolve to what's up today. Or pay -- I think this is gonna do one thing higher taxes inevitably kill the economy it's gonna crush small business there."

" Marianne why do you think businesses are opposed to this by and large."

" That's a good question because the fact is doing it when you look at small and medium size businesses which create 60% of the jobs -- our economy. They are the ones they're complaining about health care costs. That's why they're getting rid of -- in many cases a lot of their employees right now any bit -- that doesn't provide. Health care insurance. Shame on them because you know what we help pay for because both people go somewhere else to get health care and that's the emergency -- but that's something everyone of us pay for every single time and ultimately you're gonna be able to get the economy back on track is that fix health care and fix the economy -- actually I'm guessing -- some businesses Patrick tell you how they're doing what -- that's correct there they're not containing -- of that is that correct."

" Sadly no unfortunately I am not at all optimistic about the ability of this health care package to control cost her because it does not address. Things like fee for service it is not addressed tort reform. It does not address a lot of the structural issues that are really you know you causing -- here cost to be so high and we'll continue to raise the rate. Of health care inflation that said I would not in any way shape or form connected ten point 2% unemployment rate to -- health care bill. Cut unemployment always lags the economy -- that 78 months. And so the recovery started around this summer which seems a reasonable time -- the unemployment rate is gonna keep going up until you know early next year. That is just the how the economy works and has nothing to do with his health -- bill however bad or good."

" ABI guess that Eric that's questionable -- disagree get that -- I have to disagree if you lot of things that you don't may be in the past maybe in in other recessions in economic recoveries coming out of recession. It's different though we have. 800 almost 800 billion dollars in stimulus helping this one through there -- a lot of things in motion right a lot of spending issues that shouldn't. That should allow for jobs and come back sooner but they're not -- back we're talking to Patrick. Fifty -- point seven million people -- of work 27 million people either out of work or underemployed. This is different and I think you're really as -- a lot of people saying we're not gonna be able it wouldn't help here."

" before most dangerous words in investing -- it's different this time."

" Yeah but we never we never created we never coming yeah and I think that's -- particularly let's look at 83. In 1983 the last thing they would've done is add a health care you -- one trillion dollar additional entitlement. To the economy that would -- 83. Listen one we fix economy first. We would've never proposed certainly don't think we propose that's what's different because we're doing things we never did before let me -- me and there."

" Well I tell you -- ideas. We can look at it anyway we want that this is you help one trillion dollar program per marry. Mary -- point if it's so great we should make it -- trillion dollar program."

" But she points out and rightly so businesses are against it but -- her answer to that is just I just thought -- business circuits that they should love."

" Anyone that's what threw it into the small business and I'm talking -- it's still million dollars yourself."

" You look at this and you go oh my -- my tax hikes are gonna go -- I got that 8% to help I don't off far."

" The health insurance you're gonna be pulling it rains and certainly not looking to hire people you're going to be looking -- cut -- where you can't Marianne."

" Last -- liquid in this economy we have to be able to fix the economy and fix health care you should be able to walk and chew gum at the same time. The problem has been for years now Ireland and kicking the -- down the road okay that's why Obama got elected. People get their -- why isn't the government's least if you look back to our -- need to fix health care. Because that because if they don't you -- higher paying for that anyways the government have to intervene here so there's no -- do you and that. I -- very nightmare last time unemployment was 10% or higher gets what happened in 1984. Well Reagan. Well I -- it out there we doubt that that's gotta be the last word well."