Rev. Jesse Jackson on Taxing The Rich, Occupy Wall Street Protest And Palestinian Statehood

On Monday, President Obama proposed a new tax on millionaires as part of his plan to close the deficit and responded to opponents who have labeled his plan "class warfare." Republicans have vowed to defeat the tax, even as one in six Americans live in poverty. We speak with Rev. Jesse Jackson about how Obama’s plan also includes cuts to Medicare and Medicaid. "I would think, before we end up at that conclusion, we must go after where the money—where is the money?" Jackson says. "The money is in the four wars. The money is in corporations not paying their share of taxes. The money is in the banks." Jackson says he supports the "Occupy Wall Street" protests underway now in New York City. He also discusses the pending call by Ralph Nader for a primary challenger to Obama and the pending United Nations vote on Palestinian statehood.

Guest:

Reverend Jesse Jackson, civil rights leader and founder of the Rainbow/PUSH Coalition.

Amy Goodman: Reverend Jackson is still with us. President Obama spoke on Monday, proposing a new tax on millionaires as part of his plan to close the deficit. Obama responded to Republicans who have labeled his plan "class warfare."

President Barack Obama: This is not class warfare. It’s math. The money is going to have to come from someplace. And if we’re not willing to ask those who have done extraordinarily well to help America close the deficit, and we are trying to reach that same target of $4 trillion, then the logic, the math, says everybody else has to do a whole lot more. We’ve got to put the entire burden on the middle class and the poor. We’ve got to scale back on the investments that have always helped our economy grow. We’ve got to settle for second-rate roads and second-rate bridges and second-rate airports and schools that are crumbling. That’s unacceptable to me. That’s unacceptable to the American people. And it will not happen on my watch. I will not support—I will not support any plan that puts all the burden for closing our deficit on ordinary Americans. And I will veto any bill that changes benefits for those who rely on Medicare but does not raise serious revenues by asking the wealthiest Americans or biggest corporations to pay their fair share. We are not going to have a one-sided deal that hurts the folks who are most vulnerable.

Amy Goodman: President Obama in the Rose Garden on Monday. Reverend Jesse Jackson, the millionaires’ tax and one in six people in poverty in this country?

Reverend Jesse Jackson: You know, I felt the strength coming through in that statement we’ve been waiting for for a long time. Not only should the wealthiest Americans who are on the deck of the ship pay their fair share, but the unnecessary war costs and corporations. We’ve got CEOs making more money in salary than their corporations are paying in taxes, plus they’re getting a refund. We bail out—

Amy Goodman: Do you support these protests on Wall Street that have been taking place over the last few days?

Reverend Jesse Jackson: Absolutely, because, in a real sense, we bailed out the banks, without length and lending of the reinvestment. We would not put the Glass-Steagall back on. So they have a choice between investing and lending. They choose, foolishly, investing, or risk investing over lending. I must say that when we are—in December, the Bush tax cut extension amounts to more money than all the state budget deficits combined. So it seems the President is about to draw a line in the sand that’s good for all of America.

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