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Democratic strategist Doug Schoen on the practices of many companies that are paying out dividends early.
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Hundred major corporations would have had an -- dividend pay out.
Possible tax increase next year may be coming of course 200 plus companies opt out already paid or are going to pay the dividend this year.
So let's bring in Doug -- still a Democrat former advisor to President Clinton on -- this is a tax revolt on C this is hypocrisy.
This is rich CEOs Richard board members saying okay widow wanna pay the tax the rich tax next -- we're gonna pay it for ourselves this year dog.
And democracy I see it as attacks and open at all off by businessman.
Facing an on palatable and untenable fiscal condition in Washington where both parties and particularly the Democrats are failing to come up with reasonable tax reform.
You've got a smile on -- -- that you have us monitors as you know on right Jim statement that wasn't named in them cynical Jim Sinegal.
CE OO of -- a founder of Costco yeah.
He pays himself seven dollars a -- he borrows the money to do it is a huge Obama so.
Thought well now that's a different -- -- story is when you have somebody smile caught borrowing money.
That they don't have been there kitty -- -- pay a dividend to reduce tax.
That is -- manipulative -- which he favors by the way which he went to the Democrat convention has argued for -- I I can't defend.
He and his company for his actions but I can tell you Stuart.
This is a reason why our political system is letting down ordinary people because it does allow the wealthy -- -- take advantage of a system.
Because the elites are not solving our problem is this the dailies never solve problems you know that sometimes that -- and then evidence.
That what you're saying is that it's a back door argument for tax the rich and it's actually a back door argument.
For reducing taxes limiting deductions and having a rational tax reform policy in the context of entitlement reform that was voted on this plant.
Know -- tax rates.
Caught some deductions raise tax revenue that was his plan and it was also you -- yeah what are you doing here I'm with Bowles Simpson and Erskine Bowles was a Democrat chief of staff he did the deal.
With Newt Gingrich and Bill Clinton.
You can have good principles and be a Democrat or Republicans -- it what it.
-- -- After -- necessary if -- Democrats -- Democrat and I have sitting right that this at the same thing.
Remember Bill Clinton he raise tax rates and it set off a -- You don't agree -- that well I do agree with that but he also reformed welfare.
He was also willing.
To rein in modestly.
Entitlements and do things.
-- a comprehensive basis it worked and it paid huge dividends about thirty seconds yes always gonna get a fiscal cliff avoidance deal we might get some.
Form of the deal we're not gonna get a real deal.
I think the economy's going to be hurt and I think both sides.
And especially the president deserve blame but who don't get the blame -- Republicans clearly -- are gonna get the blame and there are hurting themselves with their -- -- warfare.
But we may go into a much slower economy I think we that unless the president may be a year down the road won't return if you call bad news for the president it's even worse news for the American people I -- that.
I don't not bad at all assembly Democrats have had hit is that a tagline to every interview -- there is that it may well I think about duct banks -- right here at.
