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Forbes Media chairman Steve Forbes weighs in on the unemployment rate, the elections and payroll tax cuts.
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On -- jobs last week's Disney -- employment report employment report evidence that this economy needs a booster shot of some sort.
Where do we go then well -- gonna go -- -- right away here and the -- Forbes.
Its chairman it is editor in -- in studio with us a good to see you Steve -- -- -- see you what fraud it was rough how what do you make about what's going on here.
Well in terms of -- stimulus -- we need is real stimulus that is a stable dollar lower tax rates no more obamacare and Dodd-Frank.
You -- have something you can depend upon like the dollar you have low tax rate simplify the tax code.
Get rid of these onerous regulations shall see this economy pop back pretty quickly we've done this before it.
Well we've also it's looking at the Federal Reserve meeting live later in the month of June Steve do you worried -- that action that Washington congress tries to take and that the Federal Reserve more importantly -- Does the exact opposite -- terms of the dollar and terms of just pumping even warm money into the system.
Well yes Washington as part of the problem the Fed has been a big part of the problem you see the same thing in Europe.
What is Europe doing it's piling on more taxes on the private sector in Greece Spain and elsewhere.
Federal Reserve thinks cheapening the dollar's going to would do the trick it's never worked before but hey why let facts get in the way.
And and terms of -- spending a -- -- -- Obama's gonna come out with yet another spending bill.
Stimulus didn't work before let's try it again but nothing will pass threatening nothing we'll get through congress before the election at least sell at least the president running against its -- could do nothing congress and that strategy of the effective this seems like they're doubling down on that your last few days but -- have nothing to run on and you have to overcome nothing.
And depth at its -- had congress and control rather jump rope -- teams and last placement should be in first place you get a new manager what would you.
And make a tax cut because again it was -- year.
Why are we succeed -- does incentives.
Start new does effect as a rebate terms of changing of the doesn't do much at all.
-- just uninteresting because the bigger picture argument in this the -- decider.
Of our election this year will be these issues we've been going back and forth on -- some.
Something that's as some would argue just outside our control of Europe Campbell is something that can be done here or will be done here that decides.
Well I think the fact that did the U economy is in the past for other parts the world not to -- 1980 and what does that tell because they've they've they've added that there of their following the kind of being even though they talk about austerity they really haven't cut back very much for spending too much higher than -- -- five years ago.
Increasing taxes for the most part on the economy especially capital creators and entrepreneurs and small businesses does not work G.
Think that our tax time bomb goes off at the end of this year because the bush tax cuts are set to expire.
Across the board income taxes will go off wanted to have a gay acts right that capital gains dividend taxes congress passed -- act.
Will they or do we get that -- that goes up.
If they don't do something in the lame duck session of congress.
-- I think the first thing that a new president would do -- rock.
Is to make it retroactive to -- straight months I think that extension would pass easily Democrats don't -- -- be -- the economy either.
Lot of Democrats senators coming up for reelection in 2014.
I think -- the -- before.
It is seize the initiative he would do so but harmful a couple of with this massive tax increase -- himself to the election thank you heard much -- anyways I wish you.
