income tax credit for low-income families, the payroll tax cut, that s just a few of them out there. what would the tax hikes mean for the average american? i mean, the economic impact, would that be felt immediately? obviously there s going to be a big impact here. when you total all the cuts set to expire, the tax hike is something like $400 million. they will not hit the same people but it is a hefty number. this is certainly something the average american would feel a whole lot at home. and to your point earlier, i think it would be interesting as there doesn t seem like there s a whole lot of movement. it is not clear how to get past the log-jam we have now where it doesn t seem anyone is willing to put anything on the table that will actually lead to a conclusion in this. there s a lot of back and forth but no real movement going on at the moment. bob, do you think it will be what we have seen so many times on capitol hill, which is pushing this to the 11th hour-plus and they
they were playing christmas music and people were filling up their carts. we have seen people come and go. i talked to the shoppers to ask what their plans are for the rest of the day, they are going home, taking a nap and getting up to eat thanksgiving dinner and heading out to another store to do more shopping. some even told me they will continue to shop through the night and into friday. so it looks like it could be a good shopping season for retailers. wow, amy, i have to ask you, in terms of their attitude, were they just trying to get in and get out? or did you find they were lingering and looking at all the deals and getting to thanksgiving when they would get to it? reporter: at this point we are seeing some of the lingering shoppers. the people who got here yesterday at 5:00. we talked to a family here at 5:00 p.m. yesterday. they went straight for electronics, got their stuff and were out the door, but some of the people showing up at 7:00 a.m., the late people, they hav
sure. i think that s become the way that negotiations are always held. i think that anybody who is involved in these things will say you don t give up the thing until you absolutely have to. and john boehner, for instance, putsing health care reform on the table is really an outlandish one, but all he s trying to do is widen the parameter to work out a deal. it is like the game of chicken and sometimes you lose the game. they are jeopardizing our economy. wanda, what do you think the agreement will look like? do you think republicans will abandon the call to the likes of glover norquist and others to not let the bush tax cuts expire? i wish i knew all the terms of the deal. right now we are hearing from hill democrats is that republicans are not willing to put any deal on the table that the president would be in favor of. it s a big issue. i think we ll see something but to your point, we see that deal-making in washington is very often in the 11th hour.
saying this is enough to scare the economy back into a recession, like we need to go there again? well, i think what he s been saying, what he s saying is what a lot of people are saying. we have the stifling atmosphere in washington and we need sort of the innovative approach. for instance, if you look at the election, you can note that washington state and colorado voted to legalize the recreational use of marijuana. i suspect you see where i m going with this, which is to perhaps move the negotiations to colorado or washington. oh, wow. here i was listening to you with all seriousness and i m like, no, he went there. anyway, but your point is taken. it could be a joint task force to give the tea party an entirely different meaning. oh, okay. i m going to you here now with the bush tax cuts set to expire, the social security tax cut, the
i would not be surprised to see this drag out until the very last minute as we see so often here in washington. which means we ll have you both back at some point. in the meantime, get out to enjoy your thanksgiving. appreciate it. survivors of hurricane sandy and aid workers are being remembered this holiday. on wednesday new york governor andrew cuomo delivered more than 3,000 traditional thanksgiving dinners to families in breeze sbi point. that community lost more than 80 homes to sandy. then in the far rockaways, the metropolitan council on jewish poverty handed out kosher turkeys to those affected by the storms. in new york city more than 300 red cross workers and first responders were treated to a meal from some of the city s top chefs. the red cross spokesperson sis here with me in the studio, sam, thank you for the work done on behalf of red cross. talk about how the folks are doing in the wake of sandy, those you are experiencing in