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Rep. Charlie Rangel, (D-N.Y.), discusses the president’s jobs plan and how it will be paid for.
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Congressman mr.
Obama has told us pass the bill passed a bill pass pass pass pass pass the bill passed the -- I got a decent public assistance should we passed a bill before we figure out exactly how it's gonna be -- four.
Well the president said it will be grateful and believe me He didn't get by.
They congress the Republican controlled congress and saying pass the bill.
This is not a new concept for those of us inside.
They always says is to build paid for that does it mean we have the money it means that we going to raise the money.
By either cutting of the program -- you know raising taxes is that include the plant.
Well let me make it clear what this pension cuts not because it was a subtle but I -- I guess I did okay -- it is in the plan.
Raising taxes is part of this though He already said he's gonna raise taxes and millionaires and billionaires who are paying their fair share hail season close tax loopholes.
That's raising -- what that's what America is that mean basically -- we were talking about not.
Increasing the debt ceiling to Republicans took the position that no revenue should be race this is in the startling fact.
That they -- loopholes that everyone a great should be in the tax code.
And of course when we talk about extending the president's tax break for working middle class family.
If people don't have the opportunity to buy what they need small businesses don't have the opportunity to sell it to them.
Basic government's responsibility make sure that the that all these things occur that all these economical each economic transactions occur.
But the economy comes back because of government not in spite of government that is the best question anyone Canada has there is no question.
That they could be a problem with the over expansion of government -- -- to -- -- -- state rights.
It could be that we -- but something and we ask in the states -- paid for it.
But you know after an earthquake and a and a hurricane.
And and an after the attack on a country and after talking about 911.
Can we say that it's no role for the federal government.
And even though to get to the issue that we're talking about that's a question a partnership.
We have private sect of people that have the money to move on what is that this an ingredient confidence and why.
Because people know that the congress is prepared to play political games.
At the expense about the economy but certain confidence does spending 35 billion more more additional dollars on teachers.
Bring back confidence we -- -- 26 billion dollars in the special.
Stimulus last year the spending 62 billion dollars keeping people on the unemployment line for yet another year.
Does that create jobs and in how in the world would that create -- you you said two things that's it create confident you can't take money and create confidence.
Can it create jobs as a result if confidence is it.
You naturally while home this holiday and how much confidence the spending 62 billion dollars on unemployment insurance along people to -- On the unemployment line for another you how does that create confidence if if anything it would do -- could destroy confidence and keep people war.
Already not working sitting on the couch watching all the money it's -- going -- going getting jobs to continue to do that.
Back and liberal circles they would say that you've just -- me a home run ball.
Because if you are working or if you receiving unemployment compensation.
Everywhere it would have to agree they needs that you have in terms of -- Mortgage child -- Buying food clothing and all of these things if you don't have the money.
But you have to -- you have the demand for you can't do it that means somebody.
That you will painful -- can no longer treat you as a customer.
We call that small business if He can't -- you might call -- redistribution of wealth I can't government making sure that be because you're not working.
You somehow spend by the way you're spending hard earned.
Tax -- money that they've -- given to the government U turn around -- given the someone thought working in direct you know that's a that's a social -- -- properly should wait a minute though.
After He spends and the guide is still law.
Stocks the -- people you can find somebody to have they -- program laid out.
That the guy says you know miss Johnson and you haven't been working but you have been with the unemployment compensation.
Continue to buy and what not -- you -- -- -- cousin that I laid off last week.
That because.
-- I'm doing better and not just them doing that because I have confidence.
That I will continue to do better.
Then we gotta put him back to work that's I don't know what does it.
So or what if like we spent 862 billion dollars a year ago.
And they don't hire in fact unemployment went from seven point seven -- up to nine point we had confidence if we had demand.
It keep doing it -- given a more of my people if they're buying stuff.
You know investment waking OK don't want to give everyone what -- just give everyone money by just print the but from the printing presses on.
Give everyone money don't make anyone working guess what they'll spend -- -- but there's no economic reason there's no economic reason to work anymore if you don't give them anything.
Assuming everyone has decided they have no confidence in the society and assuming they hit by the things that you -- every day.
Somebody's losing customers someone who's losing money.
Somebody is that it ended up.
In the loss column what we're trying to do is that make certain that this economy.
As just like -- -- volatile with an have the money we didn't have to machines with it now have the weapons.
But when we said we have a job to do little whether -- would talking about Rosie derivative would Primerica had the confidence come we did it if we took bets.
-- 447.
Billion dollars of mr.
Obama's proposing in that bill we just paid people that average wage in America right now we would put twelve.
Million people to work per year instead of whatever plan it's going to be we have to -- about is zillion dollars and what you know that tax credits which means that you have to make a profit.
To really take advantage of this for Clinton forty billion dollars not be putting workers back to work on the job while we're building -- -- 140 billionaire -- teacher's 35 billionaire modernize school thirty billion at there's a lot of these that our tax rate and certainly the 62 billion dollar handout to.
To be unemployed isn't.
The tax credit would like to look at it at OK it's -- and invest Baranov on their behalf I kind of I.
