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Romney and Obama Battle for Middle Class

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    Rep. Peter Welch, (D-Vt.), discusses what policies can help revive America’s middle class.

  • Duration 4:27
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This is dead -- man this is deadly earnest.

How they can justify.

How they can justify.

Raising taxes in the middle class has been buried.

The last four years.

You know that sounds like a clear admission the middle class -- -- these last four years the Obama -- that would date.

He later tried to -- a statement -- -- the middle class was buried by policy is supported by Mitt Romney and Paul Ryan.

Joining us now is congressman Peter -- Democrat from Vermont to joins us frequently on -- and company -- and welcome back good to see against.

Good to be here I'm sure we're going to agree.

That the middle class has indeed been buried -- come down about 4000.

Dollars in the last four years for middle America.

I say.

It's because the policy of stimulus.

Massive government spending and heavy regulation simply has not produced a robust -- -- Which would raise the middle class -- so -- the middle class what's your explanation.

Well I mean that's the debate between governor Romney and President Obama I mean you're right.

That -- the middle class is really struggling that's something that's been true.

Really for thirty years when you look past what's happening in the middle class for the last thirty years.

It's basically treading water and it's gotten not much tougher in the past four years in the big debate between the two sides is whether it was.

The bush policies that proceeded President Obama that where the major contributing factor.

Or is is the Romney campaign is trying to argue it's the stimulus.

Measures and other steps that the Obama administration -- O'Connor so I think it's gonna get it now -- of whack again do you think that it continued policy of raising taxes on the rich.

That's the policy and continued regulation under Obama -- and financial reform.

Continued regulation higher taxes do you think that will produce growth in America's economy.

No not out of -- I -- the -- the basic debate here in my view.

Is is -- political dysfunction in the congress we should be dealing with the debt and we should be dealing with growth.

And if he had a balanced approach to dealing with our long term debt.

-- included making some reforms in our entitlement systems.

In bringing the Pentagon under control and not just increasing that constantly.

And getting some revenues and that can be by raising taxes on the high income folks were won't make a real -- In the economy or their their take home pay.

That doesn't get their balance approach is the way that a lot of us think should be done in effect on the senate now you've got -- They gang attend -- trying to come up with an approach what is now.

-- what what about you congressman would you accept a balanced approach.

Which in which had tax reform with it -- -- tax reform I mean -- lower rates few of loopholes so more revenue.

At the same time a plan to reform entitlements -- to that's a balanced approach but it doesn't involve raising tax rates would -- that Simpson Bowles would you accept that.

-- we'll Simpson -- does have some rate adjustments as well but you know the devil's in the details but got to approach where everything is on the table and actually a clean up the tax code -- you can lower rates that makes sense we did that with.

Good with Bradley that -- senator Bill Bradley in 1986.

And then the tax code once again it just had all these scientists functional.

And and preferential.

Certain provisions and it.

So in fact they do what we have to do though I think is have a reform of the tax code you clean it up you can get some revenues that way.

But where it is being -- the campaign is trying to argue we saw this with Paul Ryan and I yesterday when -- when he was saying that its revenue neutral.

Is he thinks that you can have this impact -- -- I think pie in the sky approach where -- lower rates by cleaning up the code.

Without having a real negative impact on middle class families -- so there's a lot of devil in the details here but the fact of the gang of -- -- I'm talking together five are Republicans five Democrats.

That makes sense just politically.

We are the enemy congress has got to start working together.

That's anyone think congressman if you did get some kind of compromise.

The market the stock market would really approve I suspect another point of agreement between is hostages.

Well thanks so much for coming -- I think that's right yup I think so -- always a pleasure thanks so much for being with us much appreciate -- thank you.

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