Income Inequality Debate Enters State of the Union

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Jan. 28 (Bloomberg) -- Bloomberg's Phil Mattingly reports on income inequality being one of the main focuses for the State of the Union. He speaks with Erik Schatzker on Bloomberg Television's "Market Makers." (Source: Bloomberg)

Because of a phenomenal interview that our colleague, emily chang, did with tom perkins of denture capitalist.

-- of the venture capitalists.

Let's say the air is rife with that much more tension.


It was a fascinating interview on a number of different levels.

From a policy side of things, if you want to see this split between republicans and democrats, the split between ideologies, all you have to do is listen to last night.

Let the rich do what the rich do, which is get richer.

Along the way they bring everyone else with them when the system is working.

Therein lies the biggest flip between republicans and democrats.

Democrats want policy proposals from the federal level that they believe will directly engage to raise the poverty level, to raise the income -- raise the lower class up.

Republicans are completely against that way of doing things.

They want states to handle the money.

They want -- the tight races all ships type -- the tide raises all ships.

Even when we have an issue that everyone agrees is a major problem, i don't think everyone has an answer -- i don't think anyone has an answer we can all agree on.

Demo from a federal standpoint, is the only way republicans see true dealing with this by tax reform, perhaps lowering the rate but broadening the base?

I think tax reform is a primary area where this can be addressed.

Marco rubio was the first republican to come out with concrete proposals.

He had two interesting ones.

He wanted to get rid of the income tax credits.

He wanted a federal wage enhancement, a payment for for lower wage people, to make lower income jobs more viable.

He also had the idea of streamlining all the programs on the federal level, combining that money and handing it out to the states so the states can better tailor how they addressed this issue.

No doubt about it, democrats

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