You're watching...
InterMedia Partners Managing Partner Leo Hindery on the alternatives to the payroll tax cut extension that would improve the economy and job growth.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
The clock is ticking just 25 days left before the payroll tax cuts are set to expire congressional leaders are battling it out right now.
Over whether to extend them.
But Leo Hendry within -- media partners says he has a better way to get the economy going and what would that be -- Well I this this payroll tax cut extension.
David is is important but it's important almost -- -- moral palliative sense doesn't really help to create chaos is not gonna create jobs what what happens so often is -- it did to was this comment we way to the end of the year.
We have no stimulus would we have these abysmal jobs reports that continue.
And so we've done nothing since this extension was put in place to allow what did expire on on schedule.
What we need to be doing is his or you know I've talked about -- -- is as well as we need to create some jobs cut.
There's a wonderful initiative that is a compliment -- an alternative perhaps to the payroll tax cut extension.
Which Tom Harkin in in Bernie Sanders are advancing which is called make work pay.
Now that would be fundamentally intellectually emotionally whatever -- more sound approach to the crisis my interest and in extending the cut now.
Is what you gonna do if you let it collapse I mean what what kind of jobs reports -- -- we -- in January.
And February if we don't keep some modicum of stimulus in -- in the program.
Well as the politics are batted around through all of this -- mean he usually it was Republicans who who never wanted to let anything sunset when it came to tax cuts right.
Now certainly this one is is up for up for discussion but as we look forward.
This is very distracting to the real job creation issue was it not -- what are we missing Europe businessmen you have started.
Small businesses that have become hugely successful made millions and millions of dollars what's the -- you know.
Well the trick is you and I would never hire a woman or man to work for us based on -- payroll tax cut.
You don't make these longhorn percent to yes well these long term decisions about a woman -- -- -- employment is we don't make based on.
As short term tax cut in that could face something that you -- -- it to them back that's exactly how you do it so we've we've got roughly thirty million women him in real terms.
That are unemployed -- twice that did the official numbers.
And and yet here we are right a year away from the seminal election and in the history of this country and none of these women -- men none of them.
Are talking about genuine job creation what you sky is falling they say but do you create jobs by raising tax rates doesn't that also hurt job creation or at least do nothing good to help -- in fact wouldn't it be better.
To lower the deductions and perhaps lower the I'm actually I would do anything to and sent the middle class TT -- re engage with the economy whether it's on the employment side.
Where the concerns his -- Simpson goals should have been a lot more rigorous we -- -- he was bipartisan we abandoned it.
We wait to the sort of twelfth our initiatives.
What we have to do -- things we can do -- -- do -- your colleagues earlier today is we could start a national infrastructure bank.
It seems to be bipartisan.
We we certainly have five million unemployed youth out of school unemployed youth seems to be bipartisan.
But as we run up to the election I don't think anything is by its nature bipartisan process I just worry about that turning -- -- checking accounts were for politicians.
Well use for them to write out checks for their favorite.
They are in house -- I don't know where the discipline is David -- either party's side.
There's a handful of great women and men in the congress -- understands the business comment it's about jobs.
And if we go through -- several more months of this -- a jobless recovery.
With this over over emphasis on the service side this under emphasis on manufacturing.
We're not rebuilding the foundation.
Is President Obama to one to do that in a second term or do you feel that there are better candidates merchant.
What the -- a better candidate on the on the democratic side.
I'm very disappointed in the Republicans.
It's it's palliative -- measures if he were still a Democrat I'm still a Democrat but I IEI I'm I'm very negative very.
Troubled by the president's.
Sort of tepid approach as I've I've encouraged him to.
You know put the -- down as they say and what worries me you Liz is so many of these candidates ours ours and bears.
Are just sorted sort of eating that have a woman drinking the Kool Aid and they're saying what wants to be people want to hear.
Until we create can have a commitment to create these roughly twenty million jobs short in the medium term.
Either party should be held accountable.
Leland wonderful to know it's always a pleasure thanks for you though that -- admission thank you so much for.
