debate 8

gs-mcshame says you're going to raise taxes on everybody.

Two part question-can you make a pledge of no new taxes on people making less than a 100K and would you roll back the tax cuts.

HRC-I said that people who make 200K will not get their tax cuts rolled back. I am committed to not raising a single tax up to 250K a year. No middle class taxes of any kind.

BHO-I said I would cut their taxes. We are going to offset the payroll tax, they would get tax break. Senior citizens earning less than 50k wouldn't get taxed at all on social security. We have seen wages and incomes flat in the face of inflation. We are now seeing a deteriorating housing market. The rules in D.C. the tax code is written for the well connected.

CG-Under 250K no new taxes. yOu have said you would raise capital gains beyond Clinton's 28%. The government took in more money.

BHO-I said I'd look at raising capital gains for fairness. Part of what have happened is that those who mastered trading are paying less in tax than the secretaries taht work for them. We can't get things fixed for free and we can't take out a credit card from the Bank of China. And that's what McShame wants to do.

That is how we got an additional 4 trillion worth of debt.

CG-But the revenues might go up.

BHO-Well that might happen, but that's dependent on wall street. If we can stabilize the housing market and I think we can generate the revenue.

HRC- I think we know we need to get back to an economy that does well for everyone. We had that during the 1990s. Most people lifted out of poverty in recent history. And the fact is that I don't want to take one more penny of tax money from anybody. I think we have to invest in our infrastructure. And we need good union jobs. I want to see us actually tackle the housing crisis. We need to freeze home foreclosures. Gov Rendle has done a great job in PA, and unlike Bush who was blind to it. PA hasn't been as effected by foreclosures. Taxes are a piece of it but we got to figure out how to make our country stronger.