SHOW CAPTION HIDE Closed Caption: PART, BUT THEY DON'T WANT TO BE PLAYED FOR A SUCKER.PATRICK GASPAR IS EXECUTIVE DIRECTOR OF THE DNC AND FORMER POLITICAL DIRECTOR FOR PRESIDENTOBAMA AND JOINS US NOW.AND PATRICK, I HEAR YOU'RE GOINGTO REFER TO THIS AS NOT JUST THEBUFFETT RULE, BUT THE ROMNEY RULE TODAY, IS THAT WHAT VICE PRESIDENT BIDEN IS GOING TO DO?>> GOOD MORNING, LUKE, AND THANKS FOR HAVING ME ON.TODAY IN NEW HAMPSHIRE, THE VICEPRESIDENT IS GOING TO MAKE IT ABUNDANTLY CLEAR WE HAVE A STARKCHOICE TO MAKE IN THIS ELECTION BETWEEN A PRESIDENT FIGHTING FORWORKING CLASS AMERICANS, FOR THOSE WHO ARE IN THE MIDDLE CLASS AND ASPIRE TO THE MIDDLE CLASS VERSUS SOMEONE WHO IS RUNNING TO PROTECT THE PREFERENTIAL TREATMENT THAT BILLIONAIRES OR MILLIONAIRES HAVE IN OUR TAX SYSTEM NOW.SO, YES, YOU COULD CALL IT THE ROMNEY RULE.HE WANTS TO ROLL BACK THE -- HE WANTS TO MAINTENANCE THE BUSH TAX CUTS FOR BILLIONAIRES AND MILLIONAIRES.YOU DON'T NEED IT.HE WANTS TO BALLOON OUR DEFICITSBY $1 TRILLION OVER THE COURSE OF THE NEXT TEN YEARS.AND ON TOP OF THAT, HE WANTS TO GIVE THESE MILLIONAIRES AN ADDITIONAL $250 MILLION TAX BREAK.SO $250,000 TAX BREAK.SO, YEAH, THERE IS A DIFFERENT SET OF RULES IF YOU'RE MITT ROMNEY.IF YOU'RE SELF-PAYING 13% IN TAXES.>> LET'S TALK ABOUT THE OPTICS OF THIS.BECAUSE I WANT TO PLAY WHAT PRESIDENT OBAMA SAID YESTERDAY, WHEN FOLKS WERE SAYING THIS IS AGIMMICK, BECAUSE IT'S NOT A LONG-TERM SOLUTION.IT'S ONLY $47 BILLION, WE'RE GOING TO TALK ABOUT TRILLIONS OFDOLLARS OF DEBT.I WANT THE TO PLAY THIS VIDEO AND GET YOUR REACTION.>> THERE ARE OTHERS WHO ARE SAYING, WELL, THIS IS JUST A GIMMICK.YOU KNOW, JUST -- TAXING MILLIONAIRES AND BILLIONAIRES JUST IMPOSING THE BUFFETT RULE WON'T DO ENOUGH TO CLOSE THE DEFICIT.WELL, I AGREE.THAT'S NOT ALL WE HAVE TO DO TO CLOSE THE DEFICIT.BUT THE NOTION THAT IT DOESN'T SOLVE THE ENTIRE PROBLEM DOESN'TMEAN THAT WE SHOULDN'T DO IT AT ALL.>> HOW IS THIS NOTHING ELSE EXCEPT A POLITICAL PLOY TO MAKE THE REPUBLICANS LOOK BAD ON THE TAX ISSUE SO YOU GUYS CAN WRITE AN AD HEADING INTO NOVEMBER?>> WELL, LUKE, AS INDEPENDENT ECONOMISTS HAVE DEMONSTRATED, THE BUFFETT RULE WOULD ACTUALLY BRING DOWN OUR DEFICITS BY ABOUT$50 BILLION.AND WHEN YOU COMPARE THAT TO WHERE MITT ROMNEY WANTS TO FIND SAVINGS, IT'S -- IT'S A PRETTY HUGE DIFFERENCE.HE WANTS TO SAVE MONEY AND BRINGDOWN A DEFICIT BY ELIMINATING PLANNED PARENTHOOD AND ELIMINATING THE NATIONAL FOUNDATION FOR THE ARTS.THAT WOULD SAVE PROBABLY 150th OF WHAT THE BUFFETT RULE WOULD SAVE US IN OUR DEFICITS.LOOK, THE PRESIDENT WAS VERY, VERY CLEAR, THIS IS JUST ONE PART OF REFORMING OUR TAX CODE.CLEARLY, HE WANTS TO ELIMINATE THE PREFERENTIAL TREATMENT THAT BILLIONAIRES AND MILLIONAIRES HAVE IN OUR CURRENT SYSTEM, THATWOULD BRING DOWN THE DEFICIT BY $800 BILLION OVER THE COURSE OF THE NEXT TEN YEARS.SO THE BUFFETT RULE IS ONE PART.BUT IT IS A CENTRAL PART OF DEMONSTRATING THAT WE'RE GOING TO BUILD AN ECONOMY, BUILT TO LAST.AND ONE THAT HAS THE OLD FASHIONED AMERICAN ETHIC OF FAIRNESS.>> BUT YOU KNOW WHERE THESE RATES HAVE A DISPROPORTIONATE IMPACT IS WHEN IT'S ON CAPITAL GAINS.AND NEITHER PARTY WANTS TO GO OVER -- AFTER CAPITAL GAINS AND THE LOWER CAPITAL GAINS TAX RATE.IF YOU'RE TRULY -- WHY NOT GO AFTER CAPITAL GAINS WITH THE SAME THEORY YOU'RE GOING AFTER THE BUFFETT RULE?>> LUKE, THE PRESIDENT, AGAIN, HAS MADE IT REALLY CLEAR THAT WENEED TO HAVE A BROAD CONVERSATION ABOUT REFORMING THETAX CODES AND THE BUFFETT RULE IS JUST ONE MEASURE IN THAT KFGS, AND THE KIND OF DEEP DIVE WE HAVE TO DO ON THAT FRONT.BUT IT IS AN INTRINSICALLY IMPORTANT ONE, AND IT POINTS OUTTHE DISPARITIES THAT WE HAVE IN OUR SOCIETY RIGHT NOW.AND WHEN YOU CONSIDER THAT OVER THE COURSE OF THE LAST FEW DECADES, AS BILLIONAIRES HAVE TAKEN ADVANTAGE OF OUR CODE, HAVE HIRED ACCOUNTANTS AND LAWYERS TO KIND OF GAME THE SYSTEM TO THEIR ADVANTAGE, WHILETHE INCOMES OF AVERAGE OF AMERICANS HAVE GONE DOWN AND THEIR TAX RATES HAVE GONE UP, I THINK THAT MOST OF YOUR VIEWERS WOULD AGREE THAT THIS IS AN IMPORTANT CONVERSATION TO BE HAVING RIGHT NOW.>> YESTERDAY AN ADVISER TO THE DNC, HILLARY ROSEN SAID THAT MITT ROMNEY AND ANN ROMNEY'S WIFE NEVER NECESSARILY HAD A REAL JOB.THAT CAUSED A VERY MASSIVE THAT CAUSED A VERY MASSIVE RESPONSE FROM YOU GUYS, DAVID AXELROD TAKING TO TWITTER TO COMMENT ABOUT HILLARY ROSEN.WHY DO YOU THINK THAT THERE HAS BEEN SUCH AN OUTPUT FROM YOUR SIDE TO TRY AND NULLIFY WHAT SHESAID?>> LUKE, LET ME FIRST CORRECT YOU.AT THE TOP.HILLARY ROSEN, SMART, DECENT, DEMOCRATIC STRATEGIST, BUT NOT AN ADVISER TO THE DNC OR TO THE CAMPAIGN.WHAT SHE SAID WAS ABSOLUTELY OUTOF BOUNDS.ANN ROMNEY IS SOMEONE WHO OBVIOUSLY HAS WORKED HARD TO RAISE FIVE GOOD BOYS.AND SHE HAS MADE SOME TOUGH CHOICES IN HER LIFE, I'M CERTAIN.AND FAMILY SHOULD BE ABSOLUTELY OUT OF BOUNDS IN THIS DISCUSSION.BUT YOU KNOW WHAT, THIS REALLY IS NOT ABOUT WHAT HILLARY ROSEN OR SOMEBODY ELSE SAID.THIS IS REALLY A CONVERSATION THAT WE NEED TO HAVE ABOUT THE ECONOMY, THE DISPARITIES THAT EXIST FOR WOMEN.>> MR. GASPARD, I'M UNCLEAR.YOU'RE SAYING HILLARY ROSEN HAS NO CONNECTION TO THE DNC AT ALL AT THE PRESENT TIME?>> HILLARY ROSEN IS ABSOLUTELY NOT A PAID ADVISER TO THE DNC ORTO THE OBAMA CAMPAIGN, ABSOLUTELY NOT.BUT, AGAIN, LUKE, THIS -- LET'S JUST BE CLEAR.>> IS SHE AN INFORMAL ADVISER TOTHE DNC?>> HILLARY ROSEN IS NOT A CONSULTANT, NOT AN ADVISER TO THE DNC OR TO -- >> IS SHE AN UNPAID ADVISER?IS SHE AN UNPAID ADVISER?>> SHE IS NOT -- SHE IS -- YOU KNOW, I ONLY -- WE ONLY PAY OUR ADVISERS, SO IF ANYONE WAS TO OFFER ANY FREE HELP TO US OUT THERE, LUKE, WE'LL TAKE IT.BUT SHE IS NOT AN ADVISER.>> IS SHE INCLUDED IN THE CONVERSATIONS WITH THE DNC?>> ALL OF OUR STRATEGIC CONVERSATIONS TAKE PLACE WITH THOSE WHO ARE PART OF -- WHO ARECENTRAL TO THE OBAMA TEAM.HILLARY ROSEN, WONDERFUL DEMOCRAT, IS NOT AN ADVISER TO THE CAMPAIGN.>> SO ALL THE COVERAGE THE LAST FEW DAYS -- >> WE'RE NOT HAVING A DEBATE ABOUT -- >> NO, THAT'S FINE.BUT ALL OF THE COVERAGE THE LASTFEW DAYS WHO SAID HILLARY ROSEN IS WITH THE DNC IS WRONG.I WANT TO GET THAT CLEAR.SHE IS NOT IN ANY WAY AFFILIATEDWITH THE DNC, UNPAID ADVISER IN ANY CAPACITY.>> LUKE.THIS HAS NOT BEEN GOING ON FOR AFEW DAYS.I THINK THAT IT TOOK PLACE LATE LAST NIGHT.AND THERE WAS A STORY OUT THERE THAT SAID SHE WAS AN ADVISER.SHE IS NOT.SHE IS NOT A PAID ADVISER TO THEDNC OR TO THE CAMPAIGN.AND I HOPE, LUKE, THAT WE CAN JUST HAVE A CONVERSATION ABOUT WHAT MOST AMERICANS CARE ABOUT RIGHT NOW, WHICH IS HOW THEY'RE GOING TO BE ABLE TO PAY FOR THEIR TUITION OF THEIR CHILDREN WHO ARE IN COLLEGE, HOW THEY'RE GOING TO SUSTAIN THE JOBS THAT WE NEED TO MAKE SURE THAT THIS CENTURY IS AN AMERICAN CENTURY AND TO MAKE CERTAIN THAT WE'RE ALLOWING OUR CHILDREN TO OUTCOMPETE AND OUTINNOVATE THE REST OF THE WORLD.THAT'S THE HONEST DIALOGUE WE WANT TO HAVE AGAINST MITT ROMNEYAND REPUBLICANS WHO WANT TO DRAGUS BACK TO THE PAST.