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Obama Pushing Buffett Tax in Florida

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    Mary Anne Marsh of the Dewey Square Group discusses her support for the “Buffett Rule”.

  • Duration 5:51
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This transcript is automatically generated

Thanks to call.

Let's get back to the president's campaign theme which is at the very center of that theme is tax the rich.

The Buffett rule says -- what million that should pay less than 30% in taxes there's also proposal would raise capital gains taxes if you make 200 -- -- mall.

He is my opinion.

-- this is -- thing.

It won't pass congress it will not make a dent in the deficit it is pure law politics and -- make no difference to our country's financial troubles.

Let's see what centrist Democrats marry and -- from.

He was right -- says about that she joins us from Boston but yeah that you Marianne you have my opinion.

You share it.

No there's one -- -- -- to actually secured -- in your opinion what is you assume this is the only thing president Obama's.

Doing to try to get the economy and our finances back on track it is just one measure he and I -- at a closed -- loopholes -- -- So that's one -- you take issue with -- -- what's the next.

Well I -- Obama has proposed.

Closing more loopholes than Romney or Ryan and I think that's an important consideration as well as cuts -- it's a combination of cuts.

Fair taxation and closing loopholes all -- all three.

So let's go back to this the Buffett rule and that's zero win them on -- not.

You agree.

That even if it is passed and it almost certainly will not be passed you agree that it will brace the very very small amount of money you agreement that right.

About what four or five trillion dollars note the -- rock does not raise four -- five trillion dollars -- and you know it.

The Congressional Budget Office -- you know this you know -- what you get that number from three to four trillion dollars from the -- -- -- -- -- -- I've seen and a couple of the report 12 I think the more important factor here is Stuart the Daschle -- -- -- in the Congressional Budget Office says if you tax -- -- at a minimum 30% rate you'll bring in at four point eight billion dollars a year K that's the Congressional Budget Office that's a hard nonopec.

Four point eight billion dollars a year that's about minus three to four days worth of interest so -- do agree with me.

That if you feel impose that.

Aspect of the Buffett rule you do not bring in much money you make virtually no dent in the deficit whatsoever that's why I say -- -- Hugh all.

Politics.

And the president is looking for them votes not good economic policy.

Men and up two things -- store one something's better than nothing we have to do all of -- the Republicans.

Only want cuts that's not gonna do it either number one number two do not underestimate.

How people feel in this country about the fact that the deck has been stacked against them.

Across the board.

Not just in the economy -- the so when they when they -- the -- and the politics -- you -- know a good meal out heart of what what don't know San Diego and all our talk.

-- -- -- their income the top 1% of income and is pays 40%.

Of all the income tax -- by the federal government.

And the president say -- -- -- -- rate that.

He's right they -- at rates at eleven someone who -- it's 50000 dollars 50% of probably but we're pays nothing.

Fifteen I would notice that -- -- -- if they pay nothing not a dime in federal income tax and that's fat.

It's thousands and thousands and thousands of people in this country who make more than a million dollars pay nothing.

Even an in half of those paid more or less than most people this country -- make 50000 dollar that's the problem and that's not fair that you know it.

I know -- and I do not believe that's.

Police last month it's it's what I aren't European I know -- all time I know all about it and -- -- you what are all yeah you are today -- I hope you demonizing the rich that's all -- doing little about not about you know what I don't know and Canada I want your reaction to this quote from congresswoman and DNC Chad.

Debbie Wasserman Schultz here's what she set.

My Republican colleagues in congress and Mitt Romney all -- -- but economic Thalia.

That focused on making sure millionaires and billionaires can continue to do even better Marianne.

I suspect you'll US centrist Democrats and Europe's -- stuff I know you law.

I suspect that your little embarrassed.

By ms.

Debbie Wasserman Schultz because to assume that Republicans and conservatives all -- -- They want America to fail.

That is it is graceful insult.

Isn't it.

Here's the point she's making.

It's the only political slim -- the Republicans and Romney have to win.

This election look at any poll the one -- including -- -- it came out this morning.

Where Romney comes close to Obama is on job creation so they have to tear down his popularity.

End.

Talk down the economy to have a shot at winning.

That's what's going I think if you look at that very point.

A -- ebit -- interest step over the line.

And to say -- -- rooting for America to fight -- to fail I think that's the source of embarrassment for the Democrats on the on this issue.

I think let's look don't look at this point let innings -- I think everyone's.

Rhetoric right now is over the top so when Romney says if Obama gets reelected Iran will have a nuclear weapon.

-- you know -- people are saying Mormon isn't going to be an issue -- is going to be an issue.

I think everyone could do a whole lot better job talking about that the politics this is that while some -- -- -- down ms.

wasserman Schultz included right.

She could do and what I understand the.

I understand the political and we agree with -- -- you'll agree with -- Brit -- rent free but is talking about one -- had a palaces and everyone can -- about it just an embarrassment and she is not I'm not note note in -- is not -- -- that are.

-- -- Who who who proof.

You gonna make the highlight reel with that you really you know that that's really -- so -- it's not a problem.

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