Here is the transcripted text of what the husband and wife say when they see the portrait of Kramer.
Woman: I sense great vulnerability: a man-child crying out for love--an innocent orphan in the post-modern world.
Man: I see a parasite: a sexually depraved miscreant who is seeking only to gratify his basest and most immediate urges.
*Jerry and his girlfriend talk*
Woman: His struggle is man's struggle. He lifts my spirit.
Man: His is a loathsome, offensive brute. Yet I can't look away.
*Here, again, Jerry and his girlfriend exchange words*
Woman: He transcends time and space.
Man: He sickens me.
Woman: I love it.
Man: Me, too.