Also in this playlist...
This transcript is automatically generated
When it comes -- the fact that matter most to the most of us the ones about the economy the jobs market the debt and the deficit.
It's pretty easy let's face it's obvious gates' shadow Danson.
Out right -- -- what's going not and we saw a lot of that in last night's vice presidential debate.
But I want to set the record straight on these distortions.
Vice president Joseph Biden -- made use the word fact 26 times -- last night's debate but he sure seemed hard pressed to deliberating.
Take for example the fiery exchange between the two candidates over tax.
The only way you can find five trillion dollars in loopholes.
Is cut the mortgage deduction for middle class people cut the health care deduction middle class people.
Take away their ability to get a tax break to send their kids the colleagues.
That's why there if I'm wrong about that -- is wrong about that.
There -- -- you can cut tax rates by 20%.
And still preserve these important preferences for middle class taxpayers not mathematically -- it is mathematically possible.
It's been done before exercise -- proposing it has never been done before it's been done a couple of times -- -- never jet already lower Tex -- tree's growth run already out your Jack Kennedy Ronald Reagan.
Well in addition to being a cheap shot after all Ryan wasn't claiming to -- Jack candidate.
Biden was wrong on the facts when he claimed the lower tax rates had never resulted in higher tax revenues here are three examples.
In the 1920s tax rates were slashed from 70% to less than 25%.
Tax revenues rose 61%.
President Kennedy cut taxes across the board taking the top marginal tax rate down to 78%.
From 90% again here's what happens to tax revenues they jump.
And of course is example Ronald Reagan we talked about this many times he proposed sweeping tax rate reductions during the 1980s and the result.
Total tax revenues up.
Score one Bryant then there with this.
We went ahead and made sure that we cut taxes -- class.
Not through not close to true.
At least seven of the taxes in Obama -- will fall directly directly on the middle class.
There's attacks for not having health care insurance that could cost families as much as 2000 dollars a year once the was fully implement it.
Obamacare cap the amount of might be -- good set aside in pretax flexible spending accounts and limits the usage of that money.
And it limits the deduction that families with catastrophic health care costs can deduct from their taxes.
You know I can go on -- nine you get the point score another for Ryan.
Biden scored big points with liberals maintaining that hedge funds will benefit from the Romney -- tax plan for the death.
37% of the small business America pay.
Less that make less than 250000.
Dollars me tell you some of those other small business hedge funds to make 6800.
Million dollars a year.
That that's -- -- count as small business.
-- -- -- know -- the IRS says the majority -- small business profits fall within the household subject to the top two brackets.
The brackets that Obama and Biden want to increase rates on.
And those escorts employ about 54% of working Americans more than half.
Free sample the vice president wants to raise taxes on small business Ryan does not.
I can go on -- -- -- and claims the presence foreclosure rescue plans worked.
Anybody remotely familiar with the numbers knows that's not true.
Biden seem not plus -- debt and our deficit the federal deficit on track to hit a trillion for the fourth year in a row.
Look I -- the fact the administration doesn't have a lot of bragging rights in this election.
24 million Americans are unemployed or underemployed.
15% of restaurant food stamps.
Middle class incomes have fallen 5% since the recession ended.
The numbers they are not good and Biden's rendition of them.
Filter by section