With the White House releasing agenda items President Barack Obama plans to discuss in his State of the Union speech Tuesday night, CBS’s Bob Schieffer seemed rather skeptical that anything the president proposes could even get done.
In his interview with White House senior advisor Dan Pfeiffer, Schieffer took particular issue with the White House’s plan to increase taxes of those making over $500k, which would need Republican approval in both houses of Congress. The White House says the new taxes will result in $320 billion in increased revenue.
“Let’s just start with what the president said overnight. The president is going to announce a plan in the State of the Union to raise $320 billion in new taxes on the wealthy, that’s over 10 years. Capital gains taxes are going up with this new revenue. He’s going to do such things as provide free community college and so forth for people. New tax breaks for working families. Increased child care credit.”
“I would just ask you this Mr. Pfeiffer: do you in any way shape or form believe that a new Republican Congress is going to do what a Congress that had Democrats and Republicans in control would not do?
“Is this for real?” Schieffer asked, incredulously. “Do you really think there’s a chance that something like this could pass?”
Schieffer continued is questioning of the proposal, asking the White House adviser, “Do you really think this Congress would really consider this?”
Pfeiffer, one of the longest tenured Obama staffers, cited “middle class economics” for the new proposal, saying it’s the general theme of the State of the Union address.
“Now that the economy is in a stronger place than it’s been in a very long time, we need to double down on our efforts to deal with wage stagnation and declining economic mobility,” Pfeiffer said.