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FOX News Political Analyst Juan Williams on why he believes the U.S is going off the fiscal cliff.
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Compromise joining us now Fox News political analyst Juan Williams.
One what's your prediction are they get compromise in time are we going cliff -- You're going cliff diving if you're saying December 31 dance but if you're really talking about will the markets panic.
I think you have until January is -- seventh -- -- is that following Monday -- and in between my guess is that you get some kind of patches which was just talking about some kind of deal it might not be any grand bargain not an extensive deal.
But something that will extend the bush tax cuts they -- the unemployed and make sure that we.
Draconian -- sequestration.
Cuts don't take place.
Now -- -- to talk to -- really big investor guy who argued that.
-- any time there's a strike.
Management have to be the grown up and at some point have to do something to get the workers back to work in that in this case it's President Obama is management.
And the would be strikers -- house Republicans is it time for the president who is not really budged much is -- time -- the president to make some kind of dramatic concession numbers are not have to.
He doesn't have.
Doing political turn of your talking to politically I think you're talking about who has political advantage.
He demonstrably has political -- having both won the election -- if you look at the polls right now it's pretty clear even.
Pollsters like -- -- since indicate that Republicans will get the lion's share of the blame.
But here's the thing that I think is missing in this equation I think people forget.
That the American people expect the president Obama's gonna show some leadership.
That he would have the ability in the second term to get significant things that.
If we are locked into a sea of an economic uncertainty because we go over the fiscal clip.
It hurts parcel -- it hurts his ability to do anything else and it basically says we're going to be locked into gridlock.
For the entirety of his second term.
He doesn't want.
And Democrat.
You have to run for reelection when he does that they probably don't want that either oh yeah I'm wondering at some point.
-- let's say Republicans give and raise taxes on millionaires soak the rich that we're bringing in now an extra ninety billion dollars in revenue.
But we're still spending one point one bill trillion more than we take yet you know our problems are solved if we've soak the rich.
Not but that's never been mean the issue back to me I could make your plea -- -- it's about eight days and spending that's how -- but I think it.
But the reality is for him and for the left I think they think you know what it's gotta be shared sacrifice you heard that I'm sure if -- in the course the campaign.
But if you're gonna ask people to take cuts if you're gonna have people to resume paying the -- The payroll tax.
You're gonna ask people to take cuts in terms -- things like -- CPI to entitlement reform all act.
Anything you know -- -- people the top of the income scale also have to make some sacrifice right and that would be intact so that's what it's about it's politics and I think -- -- believes this -- -- -- that you know what.
This is political symbolism.
To say that we're gonna have tax.
Hikes the marginal tax rates -- on people over to -- Give me -- -- that no Democrat has been willing to give me wanna ever I asked them right now the top 1% of earners in this country control 19% of annual income.
And pay 40% of federal income tax.
If 1% paying 40%.
Isn't enough when -- -- and 25% of federal income tax back when taxpayers were lower -- were hired outlook.
If 1%.
Paying 40% of taxes isn't enough.
What should that 40% share -- from the top 1%.
I -- very you know that the Clinton rate was 39%.
You know.
-- talk about -- tax dollar audio and overwrought here the investment you know I mean overall -- Heidi -- do you measure that I mean the fact is if you can you equated in terms of wealth as -- the -- is even greater.
There's a small percentage Americans own all the well.
But might thought I thought you were talking about marginal tax rate is now know and if it's marginal tax rates I thought you we were doing fine with little this way the bottom half of earners in this country pay zero federal income tax you have to.
Is that -- -- -- they don't pay zero look at they pay sales taxes -- and they -- income tax but -- is that -- the bottom happen -- in other words in fact I think they pay less than nothing could be -- the earned income Packard yeah you're right we attacked because people don't pay taxes all right -- sounds good to me I'll stop got to get it let's say yeah.
Apple cut today.
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