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Rate Coalition co-chairman Jim Pinkerton argues President Obama should have discussed tax reform and job creation to instill certainty into the market...
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I present a -- moments ago outline for tax increases on people making over 200000 a year and families making over 250000.
Republicans say they don't want -- raise taxes on middle class.
I don't want to raise tax on middle class.
So we should all agree to extend the tax cuts for the middle class let's agree to do what we -- Grail.
Right.
To -- -- is with the rate coalition a group of 26 companies and organizations advocating for tax reform joins us now from Washington.
Now considered -- plotted it when he said he was going to essentially raise taxes on families making more than 202000.
-- I didn't hear the market's applauding -- and I I see that confidence indicators that you -- and I also see the headline in this morning's Wall Street Journal.
Leading indicators point to -- -- in major economies I think that's the real issue I think is unfortunate the president didn't take the opportunity just now.
To talk about comprehensive tax reform.
That would actually create jobs including.
Among -- -- -- the corporate income tax.
The -- United States -- the highest corporate income tax rate in the world we are 39% of includes stable state taxes well that is way higher than anybody else that would compete with.
And I think it's hard to see how with an economy at eight point 2% unemployment and apparently flat lining now.
-- that we wouldn't wanna do something dramatic and bold and also achievable one of the points of senator Isaacson made in the end and that comment -- that segment earlier was look.
This is not gonna go anywhere and I think -- and I think is at the same thing they rejected it doesn't do a lot of good to talk about tax plans.
That don't in fact get an -- that is builds up expectations and then dashes them what matters more in terms of providing long term confidence to the economy for job creators and investors.
That is a genuine tax wanted to actually get enacted by both parties.
Right but the point I think wasn't it I -- did to take attention off Friday's dismal jobs report.
And throw -- -- and I guess out to his constituents because that's essentially what he did they weren't cheering.
Right but a lot of his constituents including -- Democrats like Bill Nelson of Florida and what was that senator Nelson of Florida and senator Wyden of Oregon.
-- for corporate tax reform they've already endorsed -- so there's plenty of opportunity there.
For a pragmatic in the middle coalition on behalf of job creation and economic growth as opposed to just playing games.
With that tax cuts that that aren't really gonna go our tax changes and aren't really gonna go anywhere until.
It is it is a large undertaking -- to overhaul the tax -- and I I agree with you it is necessary because we all know 40%.
And Americans and even pay federal tax to begin with thanks all the giveaways in the in the internal revenue code.
The president to come out and had bought us -- disagreement that today would not be suicide before election.
Well what we'll find out in four months I just say this is that is that it had no incumbent and either party is gonna be safe.
If they get blamed for the economy and I think that's the challenges does is just as -- something we could do.
That would help the economy now immediately and I think there's a chance for.
A -- we creation of the 1986.
Tax reform act wearing where President Reagan and Democrats in congress came together it would perform.
All taxes that genuine tax wonders like you're saying.
I think will be good for for both parties and are obviously be great for the economy -- imagine already -- -- Davidson thanks for taking the data -- -- -- that.
Todd.
