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Would Tax Hikes on the Rich Hurt Job Creation?

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    Laffer Associates President Art Laffer on the fiscal cliff negotiations.

  • Duration 4:32
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0% the ratings agency Fitch today warning the fiscal cliff poses the single biggest near term threat to the global economy real.

Joining us now Arthur -- a former member of president Reagan's economic policy advisory board and chairman of Laffer associates.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- There seems to be significant.

In the receive between the two men.

And what looked like a bright possibility yesterday looks like a -- Dark prospect the day.

It does indeed it does.

I mean I don't know why the president's going away he is the the worst group to raise taxes on Lou is the -- are the highest income murders.

These are the people who are the job creators and you can't love jobs -- and hate job creators.

And I don't understand why that lesson is not as clear as a bell but.

These are the people who will -- you're not gonna get the money from a -- -- if you raise rates they can do all things around it.

But you will create a downturn in the economy -- -- crazy and.

Bader is -- as good a job as I can imagine and I loved that interview with Diane black that you had she's just world class and she's.

Let it fall onto Obama stated that they tell the Dalai.

I -- in Iraq is you dare him and then the rest of us tumbled more of a murderer hoping that they cannot come to their senses here.

I would love crap to be honest and and craft -- deal.

Of the deal changes shape.

Sequestration is an even under discussion.

Auto acceptance of sort of a throwaway line that the president will take care of that himself and and don't worry your little heads about and over there on Capitol Hill.

Hasn't said in the sweetest sweetest most respectful tones go to hell.

Because this is a -- reached a point of insult.

August and this president is acting in purposely not presidential.

-- yeah the problem -- the president has all the flexibility and mobility.

Anyone could ever -- he doesn't have to check whether anyone to change his mind you know Boehner represents 235.

Republicans in the house and maybe some Democrats as well.

And he has a whole set of constituents who have -- own opinion so he can't go flipping around in JG has lied.

And so what has happening of the president is taunting Boehner.

And he's just continuously taunting him and it's too bad because American -- is at stake.

And we really do need to deal and we needed specifically not to raise taxes on anyone -- you -- you're gonna happen economy.

Prosperity -- I've got -- taxes if you rather record on taxes OK and I and I have some in your view.

But I also way happen to be if you will pragmatic and -- cents.

-- is not and the fact is that it is an important.

In important policy choice that we're about to make.

On sequestration.

The ratio of spending cuts -- to one over tax increases.

Is a better deal you I -- you've made a career of discussing incentives and consequences are.

It's the best prospect for the Republicans today to -- -- set -- -- -- say.

Over the -- Well I don't think -- mean I think the Republicans know that they really don't wanna go over the cliff or even if it does require raising some tax rates on the highest income earners.

I think that would still be better for the Republicans -- for the country.

Than to go over the cliff from whatever went -- reduction on the record supporting higher taxes L we do not.

You know I support getting something done by extending tax cuts -- end.

You know.

The president does the president after all and they've been set -- precedent for crying out -- he's not an emperor.

This is what I find amazed I agree with you I mean it.

What ultimately like I didn't wait exalt that -- but we -- executive to this reliable news the president.

Any is that -- your right.

You're right and what -- difference between this man and my president Ronald Reagan amid what a difference to me with the -- we got the 86 tax act.

Below we got the low rates lowered the base -- -- everyone wants the I remember a tax increase in their true partner.

-- gains tax increase you're right no you are -- are the real harper it's always good to talk -- it straight with you Lou thank you very much for having me -- thank you out of that.

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