Fiscal Cliff Deal & Disincentives

  • Aired:  01/07/13
  •  | Views: 14,450

Republicans accept President Obama's tax hikes on the wealthy, but luckily this horrible deal contains a few loopholes. (2:44)

PENGUINS.

I DON'T KNOW.

OKAY.

WE'LL SEE HOW THE YEAR SHAKES OUT.

OKAY.

NOW, FOLKS, BEFORE I WENT ON BREAK, ALL THE NEWS WAS ABOUT A LOOMING ECONOMIC CATACLYSM KNOWN

AS THE FISCAL CLIFF.

I DIDN'T WATCH ANY NEWS OVER THE BREAK BUT I ASSUME WE DID NOT PLUNGE OVER THIS CLIFF BECAUSE I

HAVE NOT SPENT THE LAST WEEK FIGHTING SEAGULLS FOR DISCARDED HOT DOG BUNS.

AS A MEMBER OF THE TOP 1% I WOULD RATHER HAVE HAD MY EYES PECKED OUT BY AN ALBATROSS THAN

SUFFER THE DEAL ACCEPTED BY REPUBLICANS FROM OWE BALM YANCH PRESIDENT OBAMA INCREASED TAXES

ON THE RICH.

>> TAXES GO UP FOR SINGLES MAKING OVER $400,000 OR MORE.

IT GOES FROM 35% TO 39.6%.

>> 39.6%, MR. PRESIDENT?

HOW IS KIM-YE SUPPOSED TO AFFORD A BABY NOW?

NATION, NATION, LISTEN -- I DON'T WANT TO BRAG -- BUT I MAKE IN EXCESS OF 400 LARGE A YEAR

AND BY LARGE I MEAN BIGGIE FRY, BIGGIE COKE.

OKAY?

I'M SUCCESSFUL.

IF THE GOVERNMENT PUNISHES ME FOR IT WITH THE TAX INCREASE MAYBE I WON'T WANT TO BE ANYMORE.

>> IT LOWERS THE INCENTIVE OF THE PEOPLE YOU WANT TO TAKE RISKS AND TO INKNOW RATE IS AND

TO CREATE.

>> IT'S A DISINCENTIVE TO WORK.

>> WHY DO WE WANT TO PUNISH SUCCESS FOR CRYING OUT LOUD?

WHY PUNISH SUCCESS?

HOW CAN WE MAKERS CONTINUE TO MAKE WHAT WE MAKE.

WHY SCREEN A PERSONAL HUSBAND AND WIFE OMELET TEAM?

MARIA, UM BETTERO, I HAVE TERRIBLE NEWS.

[ LAUGHTER ]

THANK GOD THIS HORRIBLE DEAL HAS LOOPHOLES.

>> INCLUDED IN THIS BILL WERE TAX BREAKS FOR PORTO RICAN -- PUERTO RICAN RUM GROWINGS, ALGAE

GROWERS CHNCH --

>> Stephen: WHICH IS WHY I'M PROUD TO INTRODUCE CAPTAIN COLBERT'S POND RUM.

MMMMM, MMMMM.

[CHEERS AND APPLAUSE]

IT'S THE ONLY CARIBBEAN SPIRIT MADE WITH CHUNKS OF REAL ALLEGE YEAH.

[ LAUGHTER ]

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