tv The Kudlow Report CNBC September 19, 2012 7:00pm-8:00pm EDT
recover. prices continue to rise. but is that good enough to get us back on track? "the kudlow report" just moments away. all right. after the close, bed, bath & beyond did not report the number of i went down to 59 and now it's giving up a lot of that gain. for folk southern, amount of coal there. >> larry, what do you have for us? >> all right, if the liberals want to play gotcha games, obama said he believes in redistribution. we have the video for you. this is "the kudlow report." breaking news, nbc news has exclusively obtained video of
president obama at a conference held at loyola university in chicago in october 1998 and it gives you a clue to the true obama. >> i think the trick is figuring out how do we structure government systems that pool resources and hence facilitate some redistribution, because i actually believe in redistribution, at least at a certain level to make sure that everybody's got a shot. >> all right, you heard him say it, redistribution, i'm not shocked at that, we just wanted to play this tape. a growing number of conservatives are telling mitt romney, own that 40% video, fix your campaign or you're going to lose the election, some are using the words to describe mitt romney as cowardly. if mitt stays on message, he's going to do just fine. new numbers out from the congressional budget office show that 6 million americans will be
hit with obama care taxes. these are middle class americans, they'll be hit the hardest, a 50% jump from last year's estimate. ed lazier is going to tell us why. plus once again, the u.s. ambassador under attack and the white house is silent. this time it's china, where protesters with apparent clearance from the chinese swarmed ambassador garry locke's car. they are said be trajd about the u.s. -- leon panetta is in china, he's trying to renegotiate a new military treaty. but can we trust them? as reagan used to say, trust but verify, but first up tonight, a growing chorus of conservatives. they have some strong messages for mitt romney. politico reporter alex papas of
"the daily caller." this pains me to hear my conservative pals being so morose and disappointed. what's the deal. >> first off, mitt romney's had a bad couple of weeks and they're worried. the conservatives are worried now. they're saying mitt, you've got to change course or you're going to lose. today the biggest name was peggy no noonan, of the "wall street journal," she said you can't just run against mitt romney, i'm the anti-obama candidate. the point that they're making is that romney's got to -- the deal is that robama can't just lose,
romney's got to win. >> do you think he will? >> that's to be seen. i will tell you, one thing that we did see, people have been pushing and conservatives have been pushing mitt romney to get more specific when it comes to policy and in a sign that we saw the romney campaign is aware of this criticism, is ed gillespie talking a little bit about this. >> sometimes tough love really works. we all have a certain tough love towards mitt romney, i had tough love towards ed gillespie. the fact that ed gillespie has come into that campaign as a very single guy saying good things are going to happen on taxes and economic growth. these other guys, stu stevens, he has no clue on how to sell the agenda. since that rogue mitt romney
fundraising video was made public yesterday, the media has had a field day debating what romney really said and why he said it. but there's another chapter to this story. how did mother jones get this video which sat on the shelf for months. we're asking what did korn know and when did he know it. chief david korn, what did korn know and when did he know it? you've had this thing since may, and you waited until september, david, what happened. >> larry, you've got to go back to your guys who write your introduction, i have reported extensi extensi extensively, i didn't have this about two weeks ago. there's a great piece in the front page of the style section today. the fund raiser happened in
mid-may at the home of mark laider. the source who's not being identified by me, put up a snippet of it and not the full video and not identifying where it came from, it was blurry, it was hard to make out. a guy named james carter, why didn't know it at the time who happens to be the grandson of jimmy carter points this out and said maybe we should try to find the person who put this up, there might be more to this fund raising video. he made contact with the person, and put me in touch with that person and i spent a couple of weeks basically convincing the source to give me the full video. and so this is what reporters do. >> look, if you say this, i believe you. i have no reason to disbelieve
you, but some people are saying you knew it since may. >> that's just false. >> you've got this richard nixon, rosemary woods business, a two-minute gap in the tape. >> do you know what they were talking about during that two minutes? the kennedy assassination. that's just a joke. but the source says that while the device was running, at some point about halfway through the source noticed that it had turned off inadvertently, maybe the source had brushed against it and turned it off, and quickly the source turned it back on and the source estimates that maybe one or two minutes elapsed, perhaps less and that's the end of the story. >> maybe he clarified -- >> let me finish. mitt romney hasn't said, you know, i went on to say that none of what i said earlier is serious. i don't understand why people are obsessing about this because
we have mitt romney saying what he said and he hasn't denied it. so big deal. >> i agree with that. i'm glad you clarified that. here's my basic point, dave corn, i think mitt romney got a few things wrong in that thing, 47 million voters, you can't allocate government benefits with voters. but here's the thing, i think you and others who are behind this, i think you're helping mitt romney because you have kind of focused him on recovery versus benefit. on the issue of government entitlements versus free enterprise. mitt had forgotten that that was one of his key arguments during the campaign. now you all have reminded him. and it's an american argument. we would rather have opportunity rather than entitlement. >> i love how you've tied your
mast to the uss romney. >> its uss kudlow. >> this afternoon the romney campaign claimed the tape had been debunked when it wasn't. it's still acting in a rather desperate manner. he got out there saying that half of americans are moochers. i understand, you and i could have a long policy driven debate on what level of entitlements there should be in this nation, food stamps and medicaid and social security, to veteran's assistance to welfare. that's not what he said on the tape, on the tape he was very dismissive of people not having personal responsibility, not taking care of themselves. i love how you're trying to make lemonade out of lemons for mitt romney. >> i just want to say this, a whole lot of americans, they're not going to go through all these numbers, 47 million people
in benefits. what they're going to come out with as saying, huh? you mean we're paying all this money out to these people and they don't pay any income taxes? and then mitt comes on his whitehorse, i'm for free enterprise, not for government benefits. i will argue that you have revived what mitt romney forgot to talk about the last throw h three months. >> he wants to throw people off medicaid, he wants to throw people off food stamps during this time of economic recession. this discussion at some point has to get real. so you're going to -- where does the rubber meet your road, larry kudlow. >> david corn, i think you're a great liberal and you have a great liberal argument, but the
majority of voters believe that we're spending too much. >> where are you going to cut? are you going to throw some seniors off medicare? >> that's mediscare. you're going to have some new entitlement, you're going to have to lengthen the eligibility aid. and there's no reason why choice and market competition can't help. >> the age, he offered that to -- >> maybe we'll have another discussion about barack obama. anyway, david corn, off the hook, he did not hold this thing for five months, he just got it and he claims he is not rosemary woods. already news making headlines right now, this is a totally different subject. the justice department's inspector general is placing blame on 14 officials in the botched operation fast and furious gun trafficking investigation. two of these officials in the
doj have stepped down. the investigator general said there was no evidence that the attorney general eric holder had any knowledge of the problems in the case until last february. however, house oversight chairman darrell issa said red flag, holder and other leaders should have dealt with. so we'll have to see how that runs up the flag pole. coming up on kudlow, tempers rise in the far east. a territorial dispute between china and japan intensifies, china warships on the move. huge protests in china. now our ambassador has been attacked. can we trust the chinese? that's a doubtful proposition. don't forget free market capitalism is the best path to recovery, not distributionism.
his car. all this while secretary of defense leon panetta is in beijing trying to negotiate a new military treaty with china. i always say trust but verify, here is ambassador chris hill, he's the former -- we appreciate it very much. i just had this odd thought, you've got these chinese protesters surrounding the car and doing some damage to the car. could these protesters have done what they did to our ambassador's car if the chinese government didn't sign off on it? >> well, that's always the question. but i got to say, in recent months, in recent years, there's a lot more of this stuff going on in china than people know. nationalism is definitely on the rise in that country. sometimes the government uses it to sort of make a point. it does seem to be getting out of hand, i have never seen n
demonstrations against the japanese. >> chris, how much anti-american feeling is going on in china? to me the real story in the middle east regarding the radical islamist jihadist, is we hate america, that's basically the story. how much of we hate america is in china? is that going to blossom? that's probably a bad word, but is it coming? >> no, the we hate america stuff is not what's going on in china. what went on today was a small group of protesters and basically they were protesting the fact that the u.s. reached an agreement with the japanese on an anti-missile defense with many chinese feel is directed at them. so there is this kind of pushing and shoving on the occasion of secretary panetta's visit. but this is not a widespread problem in china, the real problem in china is rising
nationalism and especially anti-japanese feelings. >> so they see, these chinese who are rebelled against it, they blame the united states for japan, i guess japan's trying to take a couple of islands someplace. but you're saying, this avm missile, we help them, we're being blamed for that, is that what you're saying? >> basically when the chinese see the u.s. and japan thickening up our military cooperation, in this case, in an anti-ballistic missile system, they see it as some kind of act against the chinese. it's not about the chinese, it's about the north korea missile and nuclear program which has the japanese very worried. we want to work with the japanese, we don't want the japanese to go off on their own and develop their own systems, so we're working with them. but the chinese think it's about them. i really have to emphasize what's going on in china today
is not about the u.s., it's about japan. >> secretary of defense panetta is trying to negotiate a new military treaty with china. last time i covered this story, secretary of defense bob gates was in china and they were flying these supersonic jets, these new fighter jets over his head, which was really a story. i take it they're being a little more polite to mr. panetta, can we really have a treaty with china? trust but verify, is that possible? >> we're trying to develop some more military to military contacts. if you have more transparency with the chinese military, if you have more contacts with the chinese, it would be a better day. most chinese know that they won't do well in that economy if they don't have a relationship with the u.s. it's a relationship, how does the expression go, that's too
big to fail. >> both presidential candidates are really bashing china. romney is more overt on this. but obama doesn't want anything to move offshore. so that including china and romney the same thing, romney at different points have said the first days in the white house if he wins, he's going to accuse china of currency manipulation, why don't cooler heads reveil. >> i think the chinese are -- during the american presidential election, i think they're kind of on to that. but i must say it's a somewhat different china today than it was, say, four years ago, you have more people in china making their own minds about things, you have a lot of internet users and the consequence is that a lot of people are looking at this and saying, gee, those americans really don't like us. so that has to be watched carefully and i wish our candidates could tone it down a
tad. >> christopher, i hope you 'help us out again. they say the obama care tax is now going to hit 6 million middle class people because we got a bad economy. that's going to come out to a $7 billion to $8 billion tax hike on those folks. if that's not bad enough, i think it's going to be much worse, that middle class tax hike, we're going to take a look at it when we come back.
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so for those of you sick of pessimism and want some optimism is there a bright spot in the american economy? yes, housing. housing starts up 2.3%. that's not a gigantic number, but it's been sort of holding the high ground. this is not huge, we still got a lot of inventory to workoff, but at least it's not as bad as it was two years ago. i got a better one for you. existing home sales. this is a big number, it's so big we're going to have some fun with it. 7.8%. these are existing home sales and we're starting to see a real pattern of improvement in this category, and here's a picture of existing home sales and as you can see, we're gradually,
gradually rising up towards here. now let's move on, medium home prices, this is my nugget for you, this is my absolutely numero uno point. home prices are prizing, they're down about 35%. look at this, 9.5%. year on year, 12-month change, home prices on the secondary market. they said it couldn't be done, but it is being done. and here's the picture, take heart, this goes back to really just about a year ago, october 2011, but look where we were, still falling at 6%, we are now up here rising at about 10%. that is pretty darn good. now here's what's not good. we got a new estimate from the congressional budget office that says 6 million middle class people are going to be taxed on obama care, they're not going to take the mandate, they refuse to take the mandate, it's going to
cost us about $7 billion or $8 billion. the congressional budget office is -- they're going to jump off and they would rather pay the tax so the middle class tax could get much higher into the $25 billion range. don't tell me middle class taxes are not going up, they are under obama care. before we do anything, in my hot little hands, dallas fed president richard fisher who's a great friend of the show and a great friend of mine, he said the fed blundered in new option buying. he says he won't need qe3. did the fed blunder on qe3? >> i'm not saying we don't need it. we surely need it, the economy
is struggling, we have had 2.2% growth since the turn around. the real question is this going anything, but he probably thinks it's not going to be effective. >> so you're disagreeing with fisher? fisher is saying we don't need it and it weren't work. >> if i think back to the jackson hole conference which is just a couple of weeks ago, i think everybody understands that the economy is struggling, and we need some growth. the key to growth is not monetary policy, the key to growth is actually changes the structure of taxes, changing our trade policy, changing our fiscal policy and gti t economy back in the right direction. >> what about this rise in home prices? it's really good. you have a rise in housing prices. and a rise in stock prices. my obama friends are -- i'll be
fair and balanced and said he's got a stock market ridesing if stock prices are rising, that's a good form of wealth. if home prices are rising, that's a good form of wealth. to more toward the economy, is the economy healing? >> i would say that it's healing but it's stilled a at a very low level. think about a car that's rolling down a hill, comes to the valley and still has enough momentum to get up the gentle slopes on the other side, but you got to climb back up the mountain, but the engine's not running so we're still not going to get up the mountain. we still need to create an environment where you have very strong investment and very strong job growth. look at where we are. changes are important but changes are not what make people happy. compare the economy today, the unemployment fell from 8.3%, to
8.1%. would you rather have that where it rose from 3.9% to 4%. >> 23 million people have virtually evaporated from the labor market. what's the single most pro growth policy that you would recommend. strip down the whole policy debate that is getting more -- what is the one thing that you would recommend to get growth in 2% or less, to 5%. >> it has to be 1%. i would focus on the fiscal side. i would focus primarily on getting the budget under control. you can't have the debt double in a three to four-year period and expect to see sustained growth. >> i thought for sure you would say lower the corporate tax rate, from 35 to 25% and let small businesses pay for it. >> you wouldn't let me have two.
you wouldn't let me have two. on the other side i would go for reforming the tax code and moving -- >> limit spending and limit debt and get that corporate tax rate down because we are the worst in the world. >> the debt is really key because you cannot have a situation where you have debt at that level and then the taxes eventually have to go along with it and that's going to kill the economy. up next on kudlow, the scenes are all too family, angry moms across the middle east protest and attack the embassy. blame it on obscure video, but nothing seems to ever get done about it. that's what's getting me angry, we were promise -- they're burning our flags in the streets, nothing is happening, what is the white house thinking? you know what? we have a distinguished guest and we're going to talk about macke avelli who may have it
right on the middle east because the u.s. wants to be loved way too much. i'm kudlow, we'll be right back. [ engine revving ] ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay alive... but feel alive. the new c class is no exception. it's a mercedes-benz through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. through mercedes-benz if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help,
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unurban paris was bombed today. police are investigating will it was connected to the violent protamala edwardss in the middle east. a cartoon of the prophet mohammad has led to stepped up protamala edwar protests in the muslim world. this is the scene on september 11 in cairo. at this hour, there's a bill waiting for president obama's signature to send billions of new dollars to egypt. my question is why are we sending billions to countries who allow our flags to be burned, no actually let me say it differently, who actually burn our flags. mark stein is author of the new best selling book "after armageddon." it's wonderful to see you back here, i appreciate it. there's so many things that
annoy me. it's better to be feared than loved. if you ask me, president obama at least in the muslim world wants to be loved not feared. and that has something to do with all the attacks on the american flag. >> and there's a narcissistic parochialism, what he said on new hampshire public radio where he said people will see my face, they'll see my middle name is hussein, they'll see that i went to grade school in jakarta and . they look him and he looks no different from dick cheney or don rumsfeld. dea what part of death to america don't you understand. >> let's go back to cairo and other places. these radical jihadists, so they take our flag down and burn our
flag. now, you ask me, somebody should pay for, i don't mean pay in terms of $10 to buy a new flag. i mean pay in terms of military action. why is america doing nothing? hell, obama's not even saying anything. >> no, he's not and this is the most basic core responsibility in international relations. you go back to the cold war, nobody had to worry about a mob rampaging through the u.s. embassy in moscow, trashing it, dragging the ambassador out and killing him. that's the basic mineral relationship between states. that's what the international order is, and if a state can't do that, it's not functioning as part of the international order. so for a start we should be saying, sorry, you big shot egyptian elites, sorry, you trashed our embassy, we're going to have a two-year backlog in protests basic visas. your wife will have to go and do
some shopping in yemen. >> why not tell all these high fall lawsu falutin guys, you think we're going to forgive a billion debt? that deal's off until you shape up and protect our embassy and tell your people and the muslim brotherhood, tell them no more. why don't we just say that. >> i can see the russians doing that and i can even see the french down that. but obama is invested in the approach of being liked and of being loved. and the reality is that those guys jumping up and down in the streets understand the same thing that they understand in beijing and they understand what
putin does in moscow, that you can trash the superpower with immunity. >> and there is no nice guy concept in the middle east. they jump all over that. >> don rumsfeld 30 years ago said basically the same thing osama bin laden said 20 years later. weakness is a provocation. and when you can't even tell the truth about it, because this nonsense that the president and the sec faretary of state and t president and everyone's -- the paris cartoon is very convenient, because it tells us that if it was the youtube video, it would be the cartoon, it would be the teddy bear or the sudanese schoolteacher. in pakistan, there's a nonsharia mustache.
>> it's all because they are stirring the pot for more radical activities because they see america's weakness. that's my take. >> but you don't get into drawing up that list with them. you don't say you're right, the movie's a problem. there isn't enough paper in staples to write down every legitimate, as they see it, every legitimate islamic grievance. so you don't go down that route. you say we're free societies, we have no opinion on these guys. >> i want some toughness, you're not going to get it out of this president. they would be scared to death if ronald reagan was president. they were scared when george w. bush was president. now they're not scared of anything. >> the strong horse and the weak horse, we're getting way beyond that, those guys trashing the embassies has concluded that the superpower is a dead horse and they're building the post
american world. >> mark stein, his book "after armageddon." go out and buy it. mitt romney is saying he wants the bush -- talk about a disconnect, can there be bipartisanship? we're going to ask two senators from battleground states when we come back. president obama: i'm barack obama and i approve... this message. anncr: he keeps saying it... mitt romney: this president cannot tell us that you're... better off today than when he took office. anncr: well... here's where we were in 2008... tv anncr: the worst financial collapse... since the great depression... tv anncr: american workers were laid off in numbers not seen... in over three decades. anncr: and here's where we are today... thirty months of private sector job growth.
creating 4.6 million new jobs. we're not there yet. but the real question is: whose plan is better for you? the president's plan asks millionaires... to pay a little more... to help invest in a strong middle class. clean energy. and cut the deficit. mitt romney's plan? a new 250,000 dollar tax break for... multi-millionaires. roll back regulations on the banks that cratered the economy. and raise taxes on the middle class. president clinton: they want to go back to the same old... policies that got us in trouble in the first place. president obama: we're not going back, we are moving forward. anncr: forward.
president obama has made his position crystal clear, let the bush tax cuts for wealthy americans expire. but it seems some democratic senators may not be on the same page. in fact senate majority whip dick durbin has presented a -- to avoid the fiscal cliff attend of the year. let's talk with two distinguished senators, michael bennett, democrat from colorado, kelly ayot, democrat from -- i'm
interested in this report that senator dick durbin, correct me if i'm wrong senator bennett, but dick durbin sometimes compromises he voted for bowles simpson, is he circulating something that would extend all the tax cuts for six months and would avoid the recession? >> i think dick durbin reserves credit for having voted for the bowles simpson plan. i saw a press report about it yesterday, i think that the most important thing for us to do right now is send a message to the markets in my view that we're not going to kick this can down the road six months or 12 months, we need to make some decisions here. >> would you sign on to a dick durbin six month if it included all the bush tax cuttings? according to the reports, he would have spending cuts in there, i obviously don't know the details, maybe you know
more. would she go for that six-month extension? >> i would have to look at the report and see what it says, one thing i do know is we should extend the tax rates of where we are right now, i would like to see us doing an overall deficit reduction plan and also deal with tax reform. you and i have talked about this in the past, i would like to see us lower rates, simplify the tax code and reduce our debt. businesses are holding back because they don't know what their tax rates are going to be. we don't have a budget for the country, these issues have to be addressed right away so we don't go back into recession. >> ben bernanke has been telling members of the senate finance committee and the house ways and means either today or yesterday, mr. bennett, that a recession will occur if we can't solve the fiscal cliff on taxes and for
that matter, spending. you know, mr. bennett, my thought, this country cannot take another recession. psychologically we can't take it, or morale can't take it. our household budgets, we just can't take it. >> what if we woke up and congress in a bipartisan way actually enacted meaningful debt reduction and put us on the path to get us out of the mess we're in. there's nothing that would reassert our leadership in the world more quickly than that. instead of everybody running around moaning and growning that we can't work together to get something done. we ought to work together to get something done. >> literally in the last century, i worked for ronald reagan in his first term. and the gipper used to say, if i
can get 70% of something, i'll take it now and then go for the 30% later on. that's a compromise philosophy, it's not a bad one. could you sign on to such a thing? get your own 70% and wait to get the rest of the 30% in order to keep us out of recession? >> larry, absolutely i'm certainly willing to compromise. the last time we did real tax reform was when we had ronald reagan in the white house, we had ross kinkowski, it was a bipartisan effort and we should do it again and we should do it now and give people certainty. >> i love your tax reform, i think it's a great stechlt i'll get you both on this before i let you go. i think the public, john q. public wants a deal, a compromise at the very least to stop this big tax hike and this recession. i just think they want a compromise.
if our attitude's softening on a possible compromise? washington? are they softening really before the election? >> larry, we have an election pending, but i think there's a group of us that understand that we have got to put our country first, we have to make sure that we present a strong economy. right now our economy is much too weak with the unemployment rate nationally so. that's going to come first. so there's a group of us that are willing to work, and by the way, i wish we were working on it now. >> i think kelly ayotte is spot on, we should do it before the election. >> i think there are a number of us that were working all summer on this. i would be delighted if we did that. up next on kudlow, after mitt romney's comments surface
on that hidden video, many on the left declare the election over and even some conservatives distance themselves from romney. but i'm not one of them. there's too much panic on the right, too much ankle biting on the right. but i will say this to mr. romney, own the remarks. just own it. because all this other stuff is noise and you've got to make your statement, we're either go to be have an entitlement stator an opportunity state. i'm kudlow, we'll talk about it all next up. known each other? go to e-trade. they got killer tools man. they'll help you nail a retirement plan that's fierce. two golden crowns. you realize the odds of winning are the same as being mauled by a polar bear and a regular bear in the same day? frank! oh wow, you didn't win? i wanna show you something... it's my shocked face. [ gasps ] ♪ [ male announcer ] get a retirement plan that works at e-trade.
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welcome back to "the kudlow report." so the words inept and the romney campaign are being uttered with increasing certainty by conservatives as well as liberals. why are all my conservative pals ankle biting mitt romney. we have phil musser, mitt romney campaign advisor and kate, mr. romney may have not put it out as elegantly as you wanted. but i don't think anybody cares about what the details of what he said. i think romney has a great opportunity right now to restore and renew what he used to say last spring, that is obama is for the entitlement state and government dependency, whereas he, romney is for free
interpriinte enterprise and a opportunity society. mitt has not been making this case in the contrast of the whole commute. he has a chance to do that, kate, why is this bad? >> the last time we saw the wind in the sales of the romney campaign is when he showed the guts and the courage to pick paul ryan to run as his vice presidential candidate. we saw a glimpse of what mitt romney is talking about. mitt romney said that people are lazy, he didn't say that, he actually said that we have a choice here, exactly what you just said, i think american people want to see strength, they want to see determination, they want to see him say what it is. last week, he said the way things are about the middle east, he came out strongly and we saw obama go down five points in terms of approval in foreign policy. romney's got to go out there and say what it is. >> we have got this tape where obama says i'm a
redistributionist, and now obama has a chance -- romney has a ch emphasize his -- romney has an opening to repeat his message, this is your worst nightmare. >> it didn't feel like a nightmare, i will tell you that the politics of opposition does cut both ways. this is a problem i think that is bipartisan in a sense that we asked these candidates to go before donors and give them some special secret sauce that is supposed to sound different than what they tell the voters, i have a problem with that. the mitt romney did get caught sounding disdainful and he had to go on the fox and said he didn't mean that veterans and students and -- he doesn't think those people are moochers, but he did call them moochers.
>> there's a couple of minutes missing from that. we'll see. i don't know, to me this will not penetrate the public. phil musser, he's another point it seems to me. the whole growth method. mitt romney has done a lousy job in the last month on spending cuts and deficit reduction and economic growth. he has to explain to people why more take home pay from a middle class tax cut will benefit them. that's his real challenge. he's got to get back on that message. >> larry, i think this in a weird way can provide a pivot point. the people who are bed wetting about the republican party -- this race remains to be very close, i expect it will be that way until the debates. after the debates, maybe governor romney should start
buying five minutes of national television time and do what i have seen him do many times, explain the fiscal cliff in america, and explain how cutting taxes on the corporate side and the personal side will help grow the economy. >> i don't think people understand that the middle class tax rate is going to go down, and i'm going to use round numbers from 28% to less than 20%. if you start calculating that in terms of more take home pay, all of a sudden folks will see that romney is on their side, and that he will help grow the economy. see, kate, you know what's great? all campaigns are lousy, until they win. and then they become brilliant campaigns. everybody. i remember during the reagan campaign, everybody blasted him until he won, and then everybody in the reagan campaign was a genius, kate. can romney make the middle class
cut case? >> he's got to make the middle class tax case, he's got to be specific, but he also has to explain the great champion of the middle class barack obama is actually raising taxes on the middle class. >> we need more time tonight, you're all great. thank you, that's it for this evening's show, mitt romney, you've got an opening, you ought to take it, really. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety.
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