Transcripts For MSNBC The Ed Show 20130913 : vimarsana.com

MSNBC The Ed Show September 13, 2013

If youre a working american and you believe in recycled bush economic theory read my lips. Fundamentals are of our economy are strong. No offense, but i think you need your head examined. Youve got to stay focused on creating jobs and the Republican Congress in particular has blocked him every step of the way. You have such disdain for hardworking americans. Its called obstructionism. Government is not the solution to our problem. Government is the problem. Good to have you with us tonight, folks. Thanks for watching. I want to start with a number in a poll tonight, and i want to talk about the economy, because i just cannot believe this number. Seriously. President obamas handling of the economy. Only 45 of the American People think hes doing a good job on the economy. And 52 disapprove . You mean to tell me weve had 41 months of privatesector job growth . Weve got a stock market that is absolutely going through the roof . Weve got record profits . Peoples 401 k s are in the market and thats the best people think you know what that is . That is a lot of negative campaigning in the media. That is the republican conservative effect on how we think as a country. Heres the man, the republicans always love to quote. Here is the man they genuflect to. Here is the man they point to for direction, mr. Trickledown economics, ronald reagan. Brought the philosophy if the wealthy people dont pay much in taxes, our job market is going to go nuts. Ronald reagan said weve got to deregulate wall street. Ronald reagan campaigned hard against medicare. And how many lives has medicare saved and the quality of life for people in their later years has been just enhanced dramatically . Reagan was against all of that. And we have put up with a set of basics dealing with reagan reagans economic philosophy for the past 35 years. So where are we right now . It amazes me that people dont love obama. It amazes me that the conservatives who are seeing the stock market go through the roof in dealing with a president who has pretty much been handsoff on wall street, it just amazes me he cant get above 50 when it comes to a favorable view of the economy. Well, you see, reaganonmikes sent our nation into the worst financial crisis since the great depression. It all started with lehman brothers. Remember them . Lehman brothers. Werent they around for a long time . Gosh, they went through two world wars. They went through the great depression. They go all the way back to the civil war. Lehman brothers they couldnt make it through the market crash of 2008. They couldnt hang in there. The collapse of this firm panicked everybody on wall street to main street across america. There was a Ripple Effect. And it eventually was felt around the world. Now, the following months were devastating. 2. 6 million jobs were lost in 2008 alone. President obama inherited an economy that was tanking. 750,000 jobs a month. The stock market hit record lows. Record lows. The Housing Market was in collapse. Big banks were getting bailed out and begging for your tax money. And, of course, we had to save the automobile industry, which all the republicans were against. And were still dealing with a lot of this aftermath and a lot of this mess on wall street today, because we dont have the regulation that we need. This could be why new polling shows only 14 of americans have a favorable view of wall street. The practices of wall street only worsen the problem of income inequality in this country. Now in 2012, the top 1 of americans earned 1 5 of the countrys household income. The rich were hurt by the 2008 collapse, no doubt about it. But they werent totally broke. And they have recovered more than ever. They have more than recovered. Huge profits. From 2009 to 2012, income for the top 1 threw by 31 . No one else saw income rise. Everybody else saw income rise by only. 4 . Now, the numbers are staggering. This is the middle class right here. These are the working folks of america. These are the wealthy with the disposable income that when the market was down in 2009, you know what they did . They invested. They believed. But you know, the key is, they had the money to do it meanwhile, the stock market right now is at alltime highs. The dow jones has been just sitting above that massive 15,000 mark for most of the year. Investment banks and mutual funds were on a roll in this country. In fact, let me take you back to 2009. March 6, 2009. The market was 6,443. 27. If my memory serves me correctly, bank of america was trading at i think 3. 48 a share and today its at 14. 49. Now, think about those numbers. Thats about four times what it was back then. Do you think any rich people back in march of 2009 said, well, you know, bank of america is really down right now. But i believe in the system, and im going to throw a half Million Dollars at it. Theyve got over 2 million profit on that deal. The key is, they had the money to do it. But middle class americans, they didnt have a chance to share in this economy. Because disposable income for middle class americans has been dwindling over the last four or five years. Its a shame the middle class is suffering. Weve shown you this vulture chart time and time again on the ed show. When reagan got after it back in the early 80s, he went after labor, he went after organized labor, he went after middle class. He thought if you give the tax cuts to the wealthy, its all going to trickle down. Theres a josi whales movie with clint eastwood. He said dont urinate down my back and telling me its raining. Although he used the other word. Middle class wages have stayed the same for the past 30 years, while the top 1 have seen it go through the roof. Maybe the polling that i showed you at the beginning of this is just too many folks down here that arent believing in it. And its not obamas fault. No. This was all set in play long before obama. He just had to come in, this president of the United States, and save a bunch of stuff. But there is hope, if you look at the state of california. Right now for the next four years, were talking about a balanced budget, were talking about living within our means. This is new. This is a breakthrough. Yeah, this is new, this is a breakthrough. Lets talk about this big old liberal from yesteryear, jerry brown, who wants to come back with some progressive policies in liberalism and finance. Thats right, jerry brown, the governor of california on a roll. When brown took office, you know what he faced, just like every other governor in america . A 25 billion budget shortfall, because arnold didnt know how to run the budget. So what did he do . He came in and did exactly the opposite of ronald reagan. He decided to raise taxes on the wealthy, but wait a minute. There was this thing called proposition 30 that raised taxes on the people making over 250,000 a year by 1 . People making between 300 and 500,000 saw it go up 2 . And income earners over a half Million Dollars saw it go up 3 on the increase. It was truly a progressive tax policy, proposition 30, in california, that the people voted on. Reaganomics. Ironically, from the state where ronny came from, being rejected by its own residents. Theyve had enough of that stuff. Tax policy at its finest. The governor plans to transfer money to where . This is almost unheard. Hes going to transfer money to poor School Districts . And hes going to expand health care for the poor with obamacare . Browns budget has a projected what . Surplus . Nah. Yeah. California has a projected surplus of 1 billion. And just this week, californias legislature voted to raise the minimum wage 10 an hour by 2016. Think about that. If we had this across the country, it would take half the People Living in poverty out of poverty. I think california is a microcosm for what this country can do. We could pay down the deficit, we could increase education funding, we could increase health care spending, and we could put this country back on track. Raising the minimum wage, bringing that chart closer together, giving the middle class wage earners of this country a break, letting them share in this stock market economy. Ooh, we would be on a roll. We would be paying debt down big time, and we would be creating services for people, and it would be a better america and nobody would be left behind. And Ronald Reagans economy. This is a fight for the country. You either believe Everybody Needs a fair shake at a good economy or just a few. Its about choosing up sides politically. Unfortunately, thats where we are. Doesnt mean you dont like your next door neighbor. Doesnt mean you dont root for a certain team. Doesnt mean you dont want to see your best buddy get a great job. But you know what, in the long haul, over the next 30 years, show me that vulture chart again, guys. What confidence do you have that on that vulture chart, that this line right here automatically is going to start going this way . Whats the formula for that . Well, youve got to start somewhere. You start with a living wage. Do you think that ten bucks an hour for wage earners in this country is going to hurt these vultures up here . Hell no. Its not going to hurt them a bit. Its going to be a level of fairness thats finally into our economy. Thats what not only 2014 is going to be about. Thats what 2016 is going to be about. Thats what 2018 is going to be about. Its going to take a number of election cycles to turn that chart around. Get your cell phones out. I want to know what you think. Tonights question. Does president obama, does he get enough credit for saving the economy . Text a for yes, b for no to 67622. You can always go to our blog at ed. Msnbc. Com. Result later in the show. For more, im joined by david k. Johnson, pulitzer prizewinning journalist and author of the fine print. David, great to have you with us tonight. Glad to be here. 45 of people approve of the way president obama is handling the economy, compared to 52 who dont. 14 have a positive view of wall street, compared to 42 with a negative view. Whats your take on these numbers, considering the fact the market was where it was in march of 2009 and where it is right now . Well, youve got to hand it to the oligarchs. They have done a very good job of selling us on the view they want to have, and keeping us focused away from the things they dont want us to think about, like a decent wage. And 20 Million People who dont have fulltime jobs and a lot of them not having those jobs. It is absolutely staggering, some of the numbers, when you see wall street. They have gone again unregulated. They have come back on fire. But its been an economy for the wealthy. Middle class families and wage earners have not been able to share in the profit of wall street, because disposable income has not been there. Your take on that. Well, let me give you a couple numbers, ed, from this study that just came out from professor sayyez. In 2012, the average income of the bottom 90 of us, 90 , fell back to the level of 1966. Its actually a little below 1966. But the top 1 of the top 1 , thats the koch brothers, mitt romney, warren buffett, theyre up from 6 million a year to 31 million a year, a gain of 25 million a year per household. All the gains are going to the top. And unless we get a change of the congress, its just going to continue that way, because its the rules that are doing this, its not the brilliant Economic Activity of those at the top. You know, my dad used to say it takes money to buy whiskey. I mean, what is happening in california. It is going to give wage earners a chance to recycle money back into the economy, and for them to have at least a little bit better chance at life. Is the california model going to work . Taxing the wealthy, raising the minimum wage to 10 an hour . Well, people who make their money in california are not going to move to wyoming or texas. Theyre going to stay in california. Thats because theyre making their money there and they like living in california. And the marginal cost of that change isnt going to hurt them. But furthermore, ed, the year that the top 1 of the top 1 have their peak was at the end of the clinton administration, when poverty was going away quickly, wages were rising overall. The bottom 90 of americans were making 20 more money than theyre making now. The people at the top need to have consumers. And if their incomes are inadequate, the people at the top are going to have less than the enormous amount they already have. David k. Johnson, great to have you tonight. Thanks for your time. Remember to answer tonights question at the bottom of the screen. Share your thoughts on twitter at ed show and facebook. We want to know what you think. I want to follow up with this comment. Elections have consequences. The democrats have taken over the assembly and the senate in california and also with a liberal governor. They have decided to do something about their economy. And they have wiped out this debt by raising the taxes on the wealthy, and now theyre going to raise the minimum wage. Theyre going to invest in things that have been cut. Now if you look at some other places around the country where we talk about these six radical governors quite often, what have they done . They have gone the opposite direction, and they are running deficits and they are running deficits on projected job creation. And theyre denying obamacare in many places, which is hurting a lot of people. More on that coming up. Also tonight, Rush Limbaugh on the redskins. And later, is god a republican . Thats what Michelle Bachmann thinks. Stay with us. [ male announcer ] when it comes to doing what you love, more is better. Thats why we designed the allnew nissan versa note, with more technology, to get you into, and out of, tight spots. And more space so that you always have your favorite stuff. And just for good measure, an incredibly efficient 40 mpg highway. So that when youre doing more, youre spending less. The allnew nissan versa note. Your door to more. [ male announcer ] 1. 21 gigawatts. Today, thats easy. Ge is revolutionizing power. Supercharging turbines with advanced hardware and innovative software. Using data predictively to help power entire cities. 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For over 18 years, weve helped people take care of the things that matter most. Join today. Time now for the trenders, the ed show social media nation. Were gathering numbers, arent we . You folks have decided and we are reporting. Here are todays top trenders voted on by you. Im going give you a little bit too much information tonight. The number three trender, the ed shoe. I found this store down in soho. And i just love these shoes. I can wear them kind of dressy, theyre comfortable and casual. Its all rolled into one. I bought about ten pairs of these things. How about i buy another pair of shoes like these. I bareded my soul to make a point. Its like an old shoe. Its like an old shoe to oppose obama on everything. Who throws a shoe, honestly . Our number two trender. Sensitive skin. To the redskin upstate new york, united nation, asking for the redskins to remove and change their name. The nfl looks into a name change. The team name is part of their history and tradition. We have to listen. If one person is offended, we have to listen. But rush doesnt get all the fuss. Bubbling up underneath the surface for a number of years. Never really been taken seriously. But its been out there. Who is bothered by this . I mean, every time they have a game, its polled. Who is offended . This is a manufactured controversy. Manufactured by the left. You just dont get it, do you . And todays top trender. The unbroken record. Lets repeal this failure. Repeal every single word of obamacare. We will continue to do everything we can to repeal, dismantle and defund obamacare. Its going to be a disaster for the country. The far right continues its fight against obamacare. The house has taken a stand numerous times on its opinion of obamacare. Republicans have already voted 40 times to prevent 30 millions from gaining health care. Republicans control the house. We should use that leverage to try to make obamacare less bad. Fringe republicans are running out of all kinds of options to kill this landmark legislation. I want to repeal the law of the land. Is that clear . We wont stop well, lets tell you whats going on around the country. Joining me tonight is annette, chair of the Democratic Party. In florida, you wont believe this folks, governor rick scott is doing his very best to block obamacare at all costs. The Florida Department of health issued a directive to its employees this week, barring navigators from Health Department buildings. Now, navigators, what they are is outreach workers who are sent to help residents sign up for the insurance through the Affordable Care act Health Insurance marketplace, which, of course, begins on october 1st, were just a few weeks away. Its obamacare. Theyre actually shutting these people out, these navigators out. This is a law that has been passed. The Department Says the Navigators Program raises privacy concerns for consumers. That is hogwash. But this is something that rick scott, governor of florida, has also mentioned in his push back to the program. According to the United States census bureau, almost 4 million floridians lack Health Insurance. Annette, good to have you with us tonight. This is a big battle in florida, isnt it . Unfortunately, yes. And earlier you were saying elections have consequences. In florida, we have a bi

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