tv [untitled] May 25, 2012 11:30pm-12:00am EDT
five years from now and a new ad from the president from president obama's priorities usa super pac. kind of points out that he has a history of fudging these numbers take a look. one thing that you learn in the private sector is that you have to have real numbers and jobs were you able to create when you were at bain capital over a hundred thousand hands of thousands of jobs and thousands of jobs created a lot of jobs net net by the way we were able to help contribute to creating tens of thousands of jobs net net added over eight hundred thousand new jobs since well in excess of one hundred thousand of somewhere between thirty thousand and forty thousand jobs well over a hundred thousand jobs tens of thousands of job hundred twenty thousand jobs so oh and then and now he's claiming he actually never created any jobs. when you ask the question how many jobs would you create of being capital the truth is we had best sort of businesses that created the jobs we didn't create them ourselves they they did so first of all the c b o says unemployment is going to be
a six percent in four years if we continue with obama's policies and secondly obama has signed off on the paul ryan budget which the c.e.o. says is going to kill four point one million jobs. my head is exploding with these numbers it's chris and like me well trust mitt romney we should try which one of his numbers should we trust we should trust him more than we trust president obama because president obama made all these promises four years ago and we've seen none of it we've seen unemployment go up when he promised unemployment would go down so really i think everyone who runs for president has a promise that they're going to lower the unemployment rate obviously we know how to do that how to do that is ease up on regulations allow more businesses to grow and prosper we've seen the obama administration do all these things that kill private sector jobs yes obama has created more government jobs but those are not they would not sustainable this is this is the fuzzy about the good of conservatives forgetting that the economy was is poker going just said in
a depression when when president obama took office and since then he's recovered from all four million private sector jobs that were lost during that depression and has been growing jobs for twenty six straight months as opposed to the the two the paul ryan plan which wants to kill those four million private sector jobs that the president's created since absolutely not i mean look at obama has created for these four million jobs in the same way that bain capital did i mean obama didn't create any jobs so neither obama nor romney should take credit for creating romney's bain capital invested in the companies that created the jobs obama can't really can he really say that he created any jobs absolutely not i mean politicking often i think to take about how many jobs. he's actually going to create himself what we're talking about how many jobs can be created while he's president while president obama is president what they need to do is get out of the way i agree you have to have less regulation get out of the way let the market work jobs as we have created it has work that's that's market capitalism it has work that's what made this
country great now why was that there in the during a period of large government in the one nine hundred forty s. fifty's sixty's seventy's in the first half of the eighty's that we actually had the highest level of growth you know the only decades three consecutive decades in the history of the united states where growth was about three point one percent g.d.p. well first of all you're talking about technological advance you had ninety one percent on the numbers and all if you get the technology boom as you moved in the eighty's and ninety's you're talking about a whole new economy you're going to grammarian industrial or take an old industrial models but then you go to the information they change having an eight and sixty s. no one knows that it expands on its own so the numbers become what romney whether romney like i said the last time it's like the quarterback the presence like the quarterback too much credit when it's good to much blame when it's bad i'm not interested in how many jobs romney's going to create i'm interested in which president's going to create an overall atmosphere that small business can create job market is attention ron paul attention libertarian the free market is that no one is spending money there's no market activity going on and we need someone to
add we're in greece and we are headed towards this and we if we continue with austerity you're right we will be greece we will be nervous i mean the government this is going to employ everybody just told ryan all right i want to do to us what was the e.u. did degrees absolutely not paul ryan we are spending then you came out recently said lay off a bunch of public sector workers cut your minimum wage cut because i don't plan on benefits greece did that and threw them into a depression that's exactly what paul ryan saying we should do. and it kind of is don't run when people are stocking shelves with tons of stuff economy's wrong when people are buying the stuff on the shelves nobody's going to stock shelves and hire people if nobody's buying it regardless of arguing that the free market is dead but you're talking about what keeps the market moving the lubrication market exactly ok we will have been doing great demands of medical supply well there's no there's no supply if there's no demand because you're going to the market creates the demand where you're actually to do is that if you're going to take it out of everybody's hands exactly but we're not to take it out of everybody's hands and say we'll figure out what the supply will tell you what you want you come by and the market
has to tell us what there's a demand so people know what to supply here's here's a question if i if i were to come to you and say ok mark i'm going to buy your business with money that i borrow from chris and and then i'm going to wipe out half of your business so that it looks more profitable i've laid off half your people and then i want to sell at the same am but you're going to have the paid chris beck not me i'm going to skim twenty percent off the top i'm going to take the profit and i'm going to pay a maximum fifteen percent income tax while all three of your pay and thirty six percent when you think i just had the greatest scam on earth you know that what i described is you know i wrote equity it's mitt romney but you know i'll order billion let me just say this you can do that once maybe twice but i bet the third time nobody is going to invest your money on you didn't want to hear if you want to talk about private equity ok i want to make a total disclosure here my husband's work in the private equity business for ten years ok do you know who invests who the investors are in the private equity firm
rich people unions the sci you. public pension funds cal pers illinois florida are you saying crime by saying there was you can make money by doing by exploiting these loopholes in the tax code that it's a good thing for the economy i'm saying it's a great thing and the reason the proof of it is you look at who invests in private equity who is making the money off it you're looking at the uni. and the public pension funds because they know they get a good i can even back that make i can get an incredible return on investment selling heroin i'm not sure it's a good business spot exactly these place or to use or that these unions and these public pension funds would be investing if they knew they were going to lose money i don't know if they will go when you make money but you leave wreckage in your you know it's how i know how you're going to create wreckage but until people start saying wait a minute this isn't working i think this is our time now we're going to run saudis
who are our the rapers because it's your buddies who are giving the private equity firms the money to invest in the companies first big leveraged buyout was in one thousand nine hundred eighty that was the first big one in the modern era and the l.b.o. craze that happened when reagan changed the tax laws to allow people to use to be against the law to buy a company of somebody else's money and then dump that debt on that company when the laws changed and that happened you know all this stuff blew up it's but but they they ended up having to change their names their reputation was so bad they're no longer called the leveraged buyout private equity create creates a lot of wealth for a lot of pain and that's it. that's it creates a lot out of course but we have to determine what's there there are no loopholes i'm not saying they don't exist let's just let's name stocks is no it's not a loophole let's take responsibility for our laws it's they are for a cynical reason i might say that but they're not loopholes it's not like things are going to like mitt romney hired a lawyer sperry's to get in fact that they're going to lose their left in there for reasons of those might be cynical reasons they may not have time to hear lupul it makes me think somebody's going to be the same unless it's me responsibility for
what the law says and what it doesn't say and if it's not against the long we have to take responsibility for the fact that we didn't lead to criminalize it i think chris is right on the crits tons of wealth but we have to figure out what sort of economy are capitalism we want to want one that just creates tons of wealth for very few people do on the lips entire communities up of millions upon millions of nurses and firefighters and policemen and teachers in california and that's why we're here a way to honor him and by the know that he's saying i'm the only way to generate their. it is amazing the way they are it's not that way because not with tension you can't pick the kind of market you want it's a market where runs itself to some degree what you want to do is choose the market you want and then you want to get there somehow the market i choose i mean i guess i'm asking the question is this an industry that should exist absolutely it is an industry what what good does it do if provides capital to businesses like duncan tell me not about spend your life at all that's not private equity that is driving everybody you know i said private equity firms do some venture you have to work what you're describing providing
a company with equity with cash to to function and that's been driving the pattern comedy writer taking it private with private funding is what private equity does and then they settles in with debt it doesn't give them no it bottomed out it makes the company better and then they're able to either sell them to somebody else or allow them to go public to have more profit or are shareholders for the shareholders not necessarily better although they're going to have to hear what is there and what is you better and we have to anybody who matters they know what their operations there for to make money for the stock or you know the shareholders they're also a corporation and maybe we should start thinking of corporate capitalism model i mean if we're going to if we're going to do go ahead talk if you see i mean by that is it all the cost even of all the money that's being made and the private equity guys paying a maxim fifteen percent income tax on a new report by the associated press shows that average c.e.o. compensation last year was nine point six million dollars a public company a publicly held company that's correct so now the average employee in a publicly held company would have to work two hundred forty four years to make the
same amount of money as their c.e.o. isn't this insane i mean up until reagan became president the average the average employee would have to work thirty years to make the same amount of money as their c.e.o. now it's two hundred forty four years we don't pay brain surgeons like this we don't pay cancer docs like this we don't pay firefighters and teachers the people who actually create police officers the quality of our life nothing close to this what possibly justifies one person making more money than the. then even a well paid employee would make him two hundred fifty this is fueling the massive wealth inequality that lots of conservatives have come out and say it's actually good for an economy and i have no idea why i'd like to hear why wealth inequality is good for the economy or well you know i think that well the inequality is a problem i don't it's not a lot of times i agree that these are the problems that you agree with karl marx no no don't go to commercial after that the bottom line of this is even if the inequality of much people is a problem the bark it's not perfect business isn't perfect but the government's
worse the problem is the fix is the government using we start talking about that you're talking about some kind of cap or regulation way to where that's where there is a solution to the problem if you just get it because there's a completely different office now some people who have been in this new form and who have you can't have a football game without somebody putting up goalposts somebody establishing rules and somebody being referees that's government yeah but the people who play the system make a lot more than the people pay in the water and that's just the way it is piedmont to me and you know you have to do because i've got nothing to show and nobody's paying me millions to be here tonight but as a football player they would that's how the market works no no that's that's the direct consequence of government involvement how much were how much were football players making before nineteen eighty-four for free agency yeah i have to admit i go back a lot less you know nobody was a nobody was making over a million bucks what happened was ronald reagan said that top seventy four percent tax rate were going to drop it down to twenty eight percent and all of a sudden anybody who could get got and anybody who couldn't get got screwed and that's why the median income in the united states rose twenty six thousand dollars
and he got sports figures and c.e.o.'s making fortunes that never happened before and your solution is mine is to roll back the reagan tax cuts it's to make sure that everybody earns the same amount in a range that the government's going to take it all the same to you only see. the shareholders the ability to reject c.e.o. pay or not yet well there has never found a shareholder vote on it yes and most of that they're not buying they're not binding as long as they are not binding but a lot of the companies don't want the bad p.r. because they can that find. i mean you have thirty percent of the shareholders which which company was a g.e. a couple of weeks ago had a had a shareholders me over thirty percent of the people voted to say you know what is controlled. executive compensation the executive said you know what is the executive as well their salaries are going down but their stock options are going up and the stock options are only worth something if the company is worth more in the future so it is was paid for performance was ok we got we got it we got to get out of your more rubble after the break.
a client of american power continues. things are so bad that might actually be time for a revolution. or it turns out that a program or drug or starbucks has a surprising. you know sometimes you see a story and it seems so you think you understand it and then. you hear or see some other part of it and realize that everything is. ok is a big issue. here
is what i. love and they alone are still they'll get the real headline which none of them are the problem with the mainstream media today is that they're completely disconnected from the viewers and what actually matters for those viewers and so that's why young people just don't watch t.v. anymore if they want news they go online and read it but we're trying to take those stories that people actually care about and transfer them back in t.v. .
i'm laurie mr. i'll go back to the big picture rubble for the particularly feisty chris allman conservative commentator activist zero six progressive writer and strategist mark erald. slouched himself but concert libertarian commentator and turning let's get back to it by the way for the record the n.f.l. average pay pretty reagan was was a seventy nine thousand so seventy nine thousand dollars of yours anyway. i love that i love that anyway i want to go back to conservative populism or get to it the center for american progress this week found that one hundred percent of the freshman class of republican tea partiers all of one percent of them ran on a platform of trashing the big banks and and being horrified by the bailouts one
hundred percent of these people are now taking money either from the big banks or from the big banking association and the case of all of them except to both. in fact they are all also voting with the banks in every single case all one hundred percent of the republican tea party freshmen in total these people have taken six hundred thousand dollars just from the banks just in the last sixteen months the charts on the graphic or the graphics on the on the screen here doesn't prove that there's no such thing as tea party populism and it's just all a scam it's shocking that a better movement completely funded by wall street well the corporate. individuals like the koch brothers and dick armey would suddenly come to congress and support those very same wealthy individuals i mean i think everybody was at least at least the u.s. and they're saying they're going to do it you know. a little of these people who thought they were going out being a part of a populist movement with the tea party were completely duped and it's sad really it's really sad well i guess they learned
a thing or two from president obama who has taken lots of money from private equity executives and the big banks he had that's just they all works in washy so shouldn't we mark shouldn't we say maybe it's time to reconsider the supreme court's this weird doctrine that they talked about twenty years ago believe me on it is the morning it is robbery and you know i mean the problem with that is the idea is you're not ever saying that these people when you say they're the corporations are paying for votes or they're electing people you know saying they're giving the money quid pro quo why haven't either of those phrases ok well in general the argument is what i'm saying is that just because there's a corporations get my hands on those ads go out there if people are fooled by those ads if you can really just go out and buy people's votes then shame on them if it's just some big smokescreen you're not paying them the corporations are going to realize what you're saying you're saying is that the way that we do business in america that you know the companies take a product to market by advertising their product that that's a scam no not at all what i'm saying a sham what's the citizens united to let's corporations basically take out large ad buys big media buys they go out and if people and they can face flood the market i
guess the argument is that since they can do that people are somehow duped into following those ads on how do you see it's. you know you can you can look at the history of advertising you start advertising lunesta or whatever it is and suddenly it starts selling your advertising everyone knows you even if there is no need for me it's just it's speech again i'm not saying money is speech i've gotten over that what i'm saying is that you go after the money you can stop the speech just like you go out of any tool of an art or an expression you can stop it if people are there for that he didn't write you know there is a populist movement in the streets that's pushing back against this thing populism is is working people confronting wealthy elite elite people and i haven't seen the tea party meeting in a long time but i'm seeing the occupy movement chris are the same thing of the two sides of the same coin i don't think so i think the occupy movement is a very violent movement that where there have been many arrests and many attacks on police officers where the tea party rallies absolutely i've seen it on the news
i've seen it on news i'm different news i've seen it in in the washington post which i take every day and very violent that it's a violent movement where they look at look at what just happened in chicago with the attacks on the police officers and throwing rocks and bottles at the police officers and in california and in different places where is the tea party movement you know what they want leave me alone and no free stuff what no occupy development hands off my social security now in the occupy movement is about free stuff pay my student loans for me give me this give me that well you know what this country can't survive if we have we are a nation of takers and not a nation of givers a nation of givers to the taxpayers are those evil people who are out there and who have jobs that's an evil that. is going to your stores you're ok whatever as long as your oil is part of your violence i mean i would say that the police are more willing to go after certain people in riot gear and push people back when they're not armed to the teeth with guns and really going to deport you all why was that
a couple tea party rallies movement as long as. you know. i want to know when we're older sure. move over here of joe arpaio the donald is making a run at being the king of the birth at an interview with the daily beast realities t.v. star donald trump once again claimed that president obama was born in kenya birth or trump is expected to campaign with romney in las vegas next week daily koz is asking an interesting question why has donald trump not asked for mitt romney's birth certificate better yet my question why hasn't mitt romney released his birth certificate. anybody know i would say because he's afraid that people like to find out his middle name is not mitt that it's actually gadhafi. i have no idea if somebody asked for mitt romney's birth to take that gives tax records everything else mitt romney should give up his birth certificate i'm not so sure that mitt romney wants any part of donald trump and this ridiculous issue this needs to go away this is beyond a distraction of the real issues of this country but i you know if somebody asked
mitt romney forty probably furnitures an actual numerical. that what he called more than fifty percent of republicans the united states believe that obama was not born in the united states. so that's amazing yeah ok well it doesn't matter where he's from we just want to send i think and i think romney is the because well actually it's kind of a cheap shot i'll leave that chris solomon and sam sachs marc harrold thank you all for thank you. i. think you know mitt romney used to be the governor of massachusetts probably not because mitt doesn't like talking about instead middle likes to talk about his time in the private sector as a businessman in fact romney thinks being
a businessman qualifies him to be president more than having been a governor does. i spent my life in the private sector i have not been been employed by washington i've been employed in the private sector like you have i want to use that experience to get america working again and saw the challenges of this great nation basically mit's argument is that it will take a businessman in government to get us out of this recession and this is a message the seems to be resonating with typical frustrated low information voters who want to job who subscribe to the belief that businesses and consumers create jobs and bus think that a businessman in the white house would do a heck of a job creating jobs a new washington post a.b.c. news poll finds that romney is trying the president fifty eight to thirty two percent among white voters who are struggling financially the only problem is this whole more business and government idea has been tried before several times and
every single time it ended with disastrous results take nine hundred twenty for example republican warren harding ran on a platform that was literally these were his words more business in government less government in business already lived up to his promise you oversaw one of the most corrupt presidential administrations in american history he rolled back regulations on wall street and protections for working people on main street and his treasury secretary andrew mellon cut the top tax rate for people like andrew mellon the multimillionaires and business owners from seventy three percent down to twenty five percent what followed was an enormous economic bubble that was mistaken for actual growth they even called it the coolidge prosperity in the mid one nine hundred twenty school which was the president right after hardy another republican but nine years after harding was elected as hoover came in that economic bubble burst with a republican crash of one thousand nine hundred eighty nine so more business in government led to a great depression and then in one nine hundred eighty ronald reagan came along.
and he. he would have likely use hartings same exact platform of more business and government less government business had it not been badly tarnished instead reagan put in place basically the same exact policies as party and rolling back labor protections even single handedly breaking up the air traffic controllers union known as pac oh he pushed deregulation like harding did he gave nearly an identical tax cut to the rich as harding did top top tax rate from seventy four percent down to twenty eight percent and just like sardines policies led to an economic catastrophe within a decade or so did reagan when the newly deregulated savings and loan industry collapsed in the late one nine hundred eighty once again more business and government bad idea yet it was tried once again in two thousand when george w. bush was elected president of the nation's first m.b.a. president within a decade of
a businessman moving into the white house bush's tax cuts and deregulation once again crashed our economy putting us in the situation that we're in today and now after just four years of president obama mitt romney is running on the same platform that harding reagan and bush all ran on and all of them with that platform actually acting out that platform eventually crashed our economy it's simple running a government like a business flat out doesn't work never has never will and there's a pretty simple explanation why that is the declaration of independence spells it out thomas jefferson wrote we hold these truths to be self-evident that all men are created equal that they are endowed by their creator with certain unalienable rights that among these are life liberty and the pursuit of happiness that to secure these rights governments are instituted among men. that's the purpose of government to secure our rights to life liberty and the pursuit of happiness that's
government what's the purpose of a corporation to secure profits that's it corporations don't exist to secure the right to life if they did health insurance companies wouldn't be denying children preexisting conditions life saving medical care to maximize their profits corporations don't exist to secure the right to liberty they did private prison corporations like c.c.a. wouldn't be lobbying for harsher drug and immigration laws to throw more americans in jail to maximize profits and corporations don't exist to secure the right to pursue happiness or else they wouldn't screw their workers with low wages and crummy benefits we keep working people from every joining the middle class or even being able to enjoy a vacation once in a while for a reasonable retirement simple fact is securing our rights to life liberty and happiness is not all that profitable and that's why we need government and that's why mitt romney who actually made a living destroying life liberty and happiness is the head of
a pirate equity firm borrowing money to buy out businesses fire the workers and resell that company for a profit for himself and his buddies doesn't know one damn thing about what it really takes to run a national government let's hope voters wake up to this fact and don't ever again make the same mistake that was made in one nine hundred twenty one nine hundred eighty and two thousand more business in government bad idea. as the big picture for tonight for more information on the stories we covered visit our website to thom hartmann dot com for speech dot org and our team dot com also check out our two you tube channel is there a link to thom hartmann dot com also it's our own dot com check out all the different ways you can send us your feedback and don't forget to mark receive begins when you show up when you get out there get out there get active occupy yourself and say your it.