'Lowest It's Been in Decades'

" Or Obama helped your Russ is on that the taxes are getting piled on the debate in the Senate to begin as early as Monday but today report saying that the Senate majority leader Harry Reid. Is now seriously considering -- on folks making more than 250. Thousand bucks a year my next -- like tonight Ed Rendell is a democratic."

" Governor of Pennsylvania. Everything up it's just going on -- that these -- away. I'm trying -- and I got to start with a shocking admission I actually agree with you on something. When you said it's premature for us to even consider new stimulus you can see how the current one rolls out. You get on your absolutely right but I also think congress some congress -- is that the last of boots on being there and I was up like a foods are now. I'm that you did not until we wanted to continue to run shot I show you can see the light but continues. -- well maybe a little bit a little bit but congress and drugs also right I don't think we need another stimulus that's gonna spend extra money. I think what we should do is what congress who come proposed and that's front load. And re authorize. The federal highway transportation bill commonly known as Ice-T -- that's money we're gonna spend eventually anyway we just front load it and there's --"

" No matter what governor I think it's a -- I downloaded respect -- in powerful -- I'm telling -- It is a waste of time with these tax -- going on I'm wondering if that's the stuff that's gonna inhibit. You know folks from hiring. And and just make the environment worse not better."

" Well remember -- 95% of small businesses are -- going to be exempt from those tax hikes and that's where the real job creation is. Whose business is a hundred employees and down. And they are exempt even under the democratic house plan their exempt from."

" Yeah above it looked like yes you know businesses pay those Medicare taxes as well and it's senator Reid you know. Goes on and and looks it seriously doing as a ups the and it's of that. The sky's the limit on then then. Not only are those individuals who might be few and far between your eyes paying it but the businesses are -- it to. So they'll think twice about our time a lot of top workers I am sure in that environment."

" Well of course is doing nothing Leo that also makes businesses very reluctant to hire new workers because the cost of health care now is just out of control I used to statistic before we -- got to hear it again. Ten years ago on Pennsylvania family health plan for an employer cost 5500 today it costs 11500. And by 36 over 25000. Dollars. No business is going to be a long offered health care or its employees without going bust. With those type of figures who we have to do something that's the central message I wanna get -- and."

" Okay let's say it is something -- get decent bear the cost of this. On on on individuals you know and hiking their taxes and companies and hiking taxes in the other half. Presumably finding savings which we've never seen in the past but governor you're right hope springs eternal we just might. How is it going to reverse that man."

" Well first of all remember hygiene. Taxes on people like myself and I assume you know. Would we wouldn't even be up to the tax rate that existed under Ronald Reagan. That's basically."

" It's -- bragging great governor and saying you know that's like telling moment. I -- you have a long way to go before your release."

" what I'm saying is that Ronald Reagan who is the conservative. It idol. Is the tax rate under Ronald Reagan's presidency was much higher on rich people -- it is today."

" Yeah but it also started out much harder and he was good not but it also start how much are used and went down. We're starting. Still -- problem -- I'm only going up. Now I think we're starting at a level for rich people its lowest it's been decades. And we're going up slightly to look down on -- windows and apps like you're gonna you arts you're starting so what this it's a very strong and honest about me -- mine. -- that went on what's actually in asserting that step don't do that we're going from a top rated at 35%. To 45 present with his health care thank -- states not Pennsylvania but understates what these -- taxes. What what we're rapidly going back to those low levels and that I I think it out and Irish government -- I don't know that it sees it and then they're gonna say stop."

" And I think look there has to be about -- you're right about that but I think you've got to keep things in context. There was great growth in the economy under -- right you can see that. And -- the tax rate was higher than it is today and even higher after the proposed increase. And you conservatives say correctly so that the economy boomed under Reagan there's no question about that then the flip side of that is from President Clinton came and he raise taxes on the rich to 2%."

" I'd say they -- all business times does he load all business right so we experienced tremendous feeling it right outta my -- right it -- right I just think sometimes on the he does need to know sort of a ring got to do something governor I got it exactly. Tom it's good seeing you governor you look great keep that up and so that's. Thanks -- there does and -- and."