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John Sununu on the Fiscal Cliff Deal’s Tax Hikes

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    Former Gov. John Sununu, (R-NH), on the tax increases in the fiscal cliff deal.

  • Duration 4:16
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-- -- -- -- -- well your paycheck this week it's a little smaller doesn't that payroll tax cut is gone and for the rich are among you that your tax rate is on.

More than 80% of working Americans waking up to the sobering -- New Year's reality this week.

And former new -- -- incident -- says there is no relief for design over anytime soon.

Governor I had I -- solve a lot of people have been several proceed today it was looking and I'm Neil what's going on here I didn't.

I'm not a fat cat on currency higher taxes and yet it you know its capital I would imagine in a lot of place -- Country.

First of all my compliments to you on your comments on David so call it it is true.

That that's pretty little don't get accused deserve.

This pay equal visibility will visit really -- -- John -- debt after the fact.

You know whenever it would you crucified to -- Republican put about vigilant.

What would it kill you to give does seem to -- not buried in little item at the bottom -- page 26 when -- exonerated but I digress but.

But I -- also bright guy and and now we know he's he has been as he always has been is an honest -- so.

It's good to -- -- -- the question about people getting hit with taxes that they get used to it because they're going to be getting hit with more and more taxes.

Over the next four years and certainly over the next six months.

Obamacare taxes are coming into play the middle class discover they got about a one point seven to 2%.

Tax increase out of this tax package certainly the the higher income people got even significantly more than that.

And the elderly are discovering that there's a three point 8% surcharge.

On investment income that most of the elderly.

Are counting on on continuing to live off of so taxes are here they're going to have to grow.

Whether people like that are not.

This administration is going do.

-- to put pressure on across the board to increase income rather than to cut spending.

We just my point 8% Medicare surtax that twelve investments that one of the many of the -- -- -- -- On the way.

But I -- want to get your general sensible.

Why Republicans.

On the budget deal.

-- -- aren't all of these issues you know it it if you're going to agree to tax hikes and that I think got to be inevitable after while.

They didn't get any in return -- they would know spending cuts.

But but -- they got squeeze in a political advice yes -- they got squeezed well election that that the president was able to convince America.

That all he was gonna do is increase taxes on the wealthy.

He won he was claiming his.

His do so to speak on taxes on the wealthy and -- and the fact that the Republicans started to defend that so strongly.

I think was a real problem because frankly they lost their leverage position and and and really lost the capacity to cut spending.

No I -- it is I always thought they should come -- to -- our their consequential election we don't like it.

Taxes on the rich -- -- done done we'll agree to it but -- would be to have -- on record that we've agreed to.

We bring the tax rates back up to what they were for the upper income -- idea I think but if they -- -- that then it's it will.

We're on record is going without you better be on record cutting to stand spending and they didn't.

I would have combined that with -- with did not just talking about cutting spending.

I would it and said look we'll cut it will cut everybody else's rates like you want to and then will endorse Simpson Bowles.

And and then I think if if they had basically daughter that point as a starting point the president would have been caught in the squeeze.

And and whether we like it or not whether Simpson Bowles is good or not does -- make any difference anymore.

It's been anointed by the media and the the president I don't think would've ever bought Simpson Bowles but it would have given us I think a good starting point for negotiations.

Well you know the richest exploded in -- Smart strategy.

You've got to return to Washington young man on governor it's always good having you think -- very AJ and I hope you had a good Christmas to you was well I hope you did as well governor Johnson and -- what.

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