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Year's payroll tax holiday means another $105 billion a year will not flow into the end, into social security. is this threatening social security's finances? and now, we get that question answers. let me repeat this, this payroll tax holiday means $105 billion in social security taxes is not being collected, $105 billion a year, not flowing into social security. i say, that undermines the finances of social security and you say? >>guest: well, it doesn't. it is a silly argument because if we had done the the presidens middle-class tax cut "making work pay," this would not be an issue. >>stuar...

The top. at the same time in december, remember the republicans raised taxes on everybody in america who has a job who makes 20,000 or less if they're single, $40,000 if they're married. none of the news reports talk about this. the republicans keep saying they cut taxes. no. they cut taxes on the well to do. they raise taxes on people who make, whether they're single or married, under 20,000 or $40,000 because they killed president obama's making work pay tax credit. >> but he's a tax-and-spend liberal isn't he? that's the narrative that's out there. >> well, you know, his budget deficit was ...

At the same time in december, remember the republicans raised taxes on everybody in america who has a job who makes 20,000 or less if they're single, $40,000 if they're married. none of the news reports talk about this. the republicans keep saying they cut taxes. no. they cut taxes on the well to do. they raise taxes on people who make, whether they're single or married, under 20,000 or $40,000 married, under 20,000 or $40,000 because they killed president obama's making work pay tax credit. >> but he's a tax-and-spend liberal isn't he? that's the narrative that's out there. >> well, you know,...

Where are they? there they are right there. all right. they run -- good to see you guys. they run a small business called imperial textiles, and thanks to the sba loan that they received, they didn't have to lay any workers off last year. in fact, they were able -- they were even able to purchase a new building. is that right? so, today they're starting to look to hire again. you guys can sit down. all across america we've taken steps like these to help companies grow and add jobs. last year we enacted seven tax cuts for america's small businesses. as well as what we call the making work pay t...

Affecting everybody. i picked this because it was the lowest hanging fruit. >> but when you take them together the burden goes down. i thing -- >> neil: wait, how is it going to go down for folks looking at a $1,000 bill? >> the making work pay tax credit is more than $1,000. >> neil: so you have -- still going to come out ahead. >> exactly. you come out ahead. >> neil: ethan, are you a lawyer? because you're very good. >> i am an economist. >> well, that's kind of the same. good seeing you. >> thanks a lot. to the bailout bailout, banks give out fewer loans and bigger raises than banks that...