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Boston Properties CEO Mort Zuckerman argues that companies won’t begin to hire based on government programs.
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Yeah but this is we're now it even though it's more than a year way.
We're in to the re election season right now.
And so the dating begins right and they call you up -- they -- -- to you about would you make a donation for a at this point.
Do you trust that once if if the president is reelected that that all of the things He wants to do he's barely begun.
Well look I have to men say I I supported the president I voted for the president my newspaper the New York Daily News endorsed the president.
And I worked on his campaign and I have to tell you I encounter an awful lot of people who had the same experience and I've had.
We just disappointed.
In this presidency and we feel that there's a certain lack of understanding of the way this economy works there's a lack of understanding of who the American people are in some way.
So I think he's got a huge huge hurdle to overcome I don't think he's gonna do it and -- the Republicans nominate somebody who's fundamentally unacceptable.
And do you have anybody that you light so far on the Republican side.
No I I I don't I had one person -- I really liked.
Jeb Bush.
Who might think would have been a terrific president I also like Jon Huntsman.
-- a candidate but He simply is not gaining any traction so I don't know where its gonna play out we'll just have to wait and see because we don't really know these candidates we know that well.
And and and Mitch Daniels says no and Chris Christie says no would so a lot of got a lot of people that are just say I don't -- -- -- with the.
Which as it's it's a sad occasion because.
Given what has happened in the last several -- last three years basically we really need to strong candidate.
And if the Democrats think that Obama's strong candidate the Republicans have to nominate a strong candidate it's essential for the future of this country.
They go through a couple these are businesses in the of the president's -- plan.
Reducing the payroll tax so more extending the reduction of the federal fact -- that created job.
Look we have -- a dramatic amount in the way of taxes and it really has not demonstrated itself in the form of increased consumption.
There's something else that's going on in this economy.
And that is a sense of real despair and a lack of confidence in the future or at least a short term future this I don't think it's gonna have much in effect I'm not -- you'll never know.
Well we have -- so here we are nine months into wall hernia payroll tax reduction right.
And nothing -- I get the economy gotten worse -- Gotten better that's right and they and they look we have low interest rates mortgage rates are at the lowest they've been in certainly in my lifetime.
You show me any kind of economic theory -- business model that shows that lower interest rates on mortgages will actually not stimulate.
How thing but in housing is continuing to drop in that yeah that's something else is going on in.
Its CE com what I want you what I learned in school with with low price -- get increased demand we're not getting that that that that that theory is right.
It's not work it's not working now of course I went to school well after you did so maybe they've changed -- may be so.
Port thousand dollars credit if you hire somebody -- been unemployed for six month you like them.
Well you know I think it helps but actually people are not going to hire people for a long period of time.
Because of the fact that they're gonna get a 4000 dollar.
Kicker on an okay they're going to hire people if the demand is out there that justifies increased production or increased business activity.
It's a demand that he's -- there that is what have to change before people are going to be hiring.
So you got -- you've got a but a temporary.
Benefit.
But -- long term increase in -- Action -- -- -- -- -- that the average salary of sixty to 70000 dolls are you gonna take on that with all the health care obligations as tetris -- Firm for 4000 -- -- you've got to keep this person on your -- for Lanka that is why.
Full time employment has been dropping dramatically we've lost will close to a million jobs full time employment jobs.
In the last five months all the jobs we are creating now are basically part time jobs involuntary part time jobs.
Where you don't have to worry about letting people go where you can have them work two days a week.
Where three days -- -- instead -- a -- week we don't have health care obligations to that that tells you something about the way business looks at the future.
You know.
I saw list the list -- wonderful about the wealthiest in our country did you are there are somewhere around number 100.
And I've got to ask you your your you've done very wells financially successfully.
There's there's a spirit in our country always has been -- -- to recognize and honor success right now success has been you know you are doing you are bad guy you'd there's something wrong.
You've done something wrong and you need to pay your fair share.
How do you like getting beaten up by the president all the time.
Well I you know I don't like getting beaten up by anybody to be perfectly honest you especially by the president but I have to say this I do think as a political matter not as an economic matter.
As a political matter.
Wealthier people in this country are going to have to be seen to contributing to the solutions that we have to deal with.
And if that involves paying some additional taxes I'm happy to do in fact I supported it.
And -- supported those increase taxes forever I was opposed.
To the bush tax cuts for that same reason.
I do think we have tremendous fiscal problems in this country and I'm happy to something to be a part of and I think a lot of people who are.
Blessed by whenever they been able to do in this country would share that view.
-- Mort Zuckerman.
Always great to get your view thank you very much.
