at 15%. oh, the job creators, the job creators who will hold that money and not use it to invest in jobs. certainly not a winner. probably not smart to single out taxes. there s got to be spending cuts, a much bigger chunk of the deficit problems comes from run-away spending. the one area where taxes should come back is the estate tax. the idea that there s zero estate taxhat, this is the year to die. come late december, rich people better look out for their kads because the kids have a real incentive to do them in. that is one tax. let me tell you mike barni e barnicle, one tax not to raise, but to raise the capil gains tax from 15% to 20%,again, capital gains tax which rewards smart investments which creates jobs, who dreamed that up? we re going to raise capital gains taxes when there s 15% unemployment?
insisting on a tax hike next year for many small business owners. thank you very much. let s use the judge judy card for tim kaine. oh! ie i m going to use the joe montana if i get to meet joe montana, i ll come back in a half-hour. we heard the breakdown and the big thing that people are talking about today he s going to announce those tax cuts for 98% of america but not for the top 2% wage earners. do you agree with that? because even a lot of democrats right now, governor, are saying hey, we probably should be even the budget director who is leaving saying we should extend the tax cuts. and alan greenspan says we shouldn t. he says i like tax cuts. you shouldn t borrow money from the chinese to finance tax cuts, do them in a way that s going to create deficit problems. i m kind of where john mccain was in 2003, 2004, he voted against the bush tax cuts because he felt like they weren t targeted to the middle class. if you target them at the middle class, they re more
and one of the encouraging things although there was resistance, ironically on the part of some of the republicans who originally had been cosponsors of legislation to create the fiscal commission and they in fact ended up voting against it, what has been encouraging, based on what i am hearing, both from democrats and republicans, is that there has been a serious conversation there. people are looking at a whole spectrum of issues to exit at what is basically a structural deficit that preceded this financial crisis. even if the financial crisis made it much worse but even if we had not gone through the financial crisis we d still have to be dealing with these long term deficit problems. they have to do with medicaid and medicare and have to do with social security. they have to do with a series of structural problems that are not unique to america. some of it has to do with an
rates low, which could encourage growth in those countries with the deficit problems. jamie: seems almost an obvious question, but i want to ask how big an issue the bp oil spill is there for leaders? this is a big issue. the president is having a bilateral meeting with the new british prime minister david cameron here, just in the next hour or so. prime minister cameron actually flew down here to toronto in the president s helicopter to get those conversations going. but we ve also learned that the russian delegation out of nowhere has been pushing these leaders to endorse new international off shore drilling regulations. so far the russians haven t gotten much traction on their proposal, but we ll wait to see if the leaders endorse it, but when release their communique tomorrow. peter, thanks. it s been a pretty rough ride for chrysler in recent years
g-20 nations, you do it as well. get your bank reform deals done as well. and then there is going to be some conversation, which is interesting, about, okay, when do you stop the government stimulus? when do you start worrying about your debt some because it isn t just america that has a debt that s a problem. it s a lot of these huge economic countries around the world that have that are starting to deal with deficit problems themselves, particularly the european nations that are going to be here. put on your hat as political director. news overnight out of the senate. looks like some agreement has been reached on financial regulation. what is your take? well, look. it was one of those things that it polls very popular. i think what is interesting to see is republicans, when you see the final vote after the compromised deal, how many republicans end up voting for it. you know, in our nbc/ the wall street journal poll one of the things we asked there is talk about too much gover