Got Wealthier News Today

Republicans promised that if the rich got a massive tax break, it would boost the economy and that wealth would trickle down to the rest of us. while weve seen what a decade of bush tax cutting did to the whole country, today president obama took another step toward repairing the damage. he called on congress to let the bush tax cuts expire for the wealthiest americans making more than a quarter million dollars a year. >> weve tried it their way. it didnt work. at the beginning of the last decad...

And what happened? the wealthy got wealthier, but most americans struggled. instead of creating more jobs, we had the slowest job growth in half a century. instead of widespread prosperity, the typical family saw its income fall and in just a few years, we went from record surpluses under bill clinton to record deficits that we are now still struggling to pay off today. so we dont need more top down economics. weve tried that theory. weve seen what happens. we cant afford to go back to it. we ne...

wolf blitzer, let me start with you. this is something that a lot of critics have said is a subject changer because we had real bad jobs news on friday and that just -- it riveted people throughout the weekend. is this an effort to change the narrative? >> it may be, in part, because the white house clearly believes this is a winning political issue for the president. he is going to make the point that for 98% of the american people, there will be no increase in their taxes. individual...

Growth. they did not. the wealthy got wealthier. we would expect that. but prosperity sure didnt trickle down. >> he was giving them ways of framing things, i think, even in their own coverage, karen. >> absolutely. whether its trickle-down economics, youre on your own, to pick your favorite phrase, it was absolutely. for democrats one of the things i was happy to hear, he was essentially rejecting the reps premise you screwed everything up. theres not this magical universe if we did their way, ...

We were promised that these tax cuts would lead to faster job growth. they did not. the wealthy got wealthier. we would expect that. but prosperity sure didnt trickle down. >> he was giving them ways of framing things, i think, even in their own coverage, karen. >> absolutely. whether its trickle-down economics, youre on your own, to pick your favorite phrase, it was absolutely -- for democrats one of the things i was happy to hear, he was essentially rejecting the republicans premise that youve...

Battle over what role americas millionaires should play. >> weve tried it their way. it didnt work. and what happened? the wealthy got wealthier, but most americans struggled so im not proposing anything radical here, i just believe that anybody making over $250,000 a year should go back to the income tax rates we were paying under bill clinton. this is not just my opinion. the american people are with me on this. looks to me like a battle over the meaning of tax fairness, right? what are the ...

Host a round table and talk to students at a community college in cedar rapids, iowa, where unemployment is nearly half that rate. yesterday the president called for extending tax cuts only for households that make less than $250,000 a year. he derided mitt romney and congressional republicans plan which would renew cuts to the wealthiest americans and hoped they would use the savings to invest in and create new jobs. >> weve tried it their way. it didnt work. at the beginning of the last decade...

Multimillionaire as he smacked down the republicans cry that all the tax cuts must be extended.y ied it their way. it didnt work. the wealthy got wealthier. but most americans struggled. so we dont need more top down economics. we tried that theory. weve seen what happens. >> speaking of which, mitt romney was busy enjoying the rarefied airs in aspen, colorado. he did respond to the move in a radio sper view on the john frederick show. >> what the the presidents proposing is therefore a massive ...