Page 5 - 620 Billion News Today

>> well, if you go back, if you go back to even this weekend, it was reported bob woodward in his book, of course, that was, he wrote an op-ed this weekend where he basically said the presidents moved the goal post and tax increases werent a part of the budget control act. there was a spending reductions and the super committee didnt reach a solution and these across the board spending cuts. it was all spending. and what hes essentially doing is saying, now, i want taxes out of this. and he did ...

>> well, if you go back, if you go back to even this weekend, it was reported bob woodward in his book, of course, that was, he wrote an op-ed this weekend where he basically said the presidents moved the goal post and tax increases werent a part of the budget control act. there was a spending reductions and the super committee didnt reach a solution and these across the board spending cuts. it was all spending. and what hes essentially doing is saying, now, i want taxes out of this. and he did ...

Tax issue over this week, saying its now time to focus on washingtons spending program. but president obama insists any cut must be be accompanied by more tax revenue. and mouse minority leader nancy pelosi says future tax hikes are not off the table. >> the president had said originally he wanted 1.6 trillion in revenue and he took it down to 1.2 as a compromise and this legislation will get 620 billion dollars, very significant, high end tax, changing the high end tax rate to 39.6%, but thats ...

Taken care of. >> no, the president said originally he wanted 1.6 trillion dollars in revenue. he took it down to 1.2 as a compromise and this legislation again, 620 billion dollars, very significant, high end tax, high end tax rate to 39.6%, but thats not enough on the revenue side. were already agreed to a trillion dollars in spending cuts, over a trillion dollars in spending cuts. >> so are you then saying to the upper classes, get ready, youre going to have to pay some more, this is not the ...

Taken care of. >> no, the president said originally he wanted 1.6 trillion dollars in revenue. he took it down to 1.2 as a compromise and this legislation again, 620 billion dollars, very significant, high end tax, high end tax rate to 39.6%, but thats not enough on the revenue side. were already agreed to a trillion dollars in spending cuts, over a trillion dollars in spending cuts. >> so are you then saying to the upper classes, get ready, youre going to have to pay some more, this is not the ...

Care of? >> no, n. it is not. the president had said originally he wanted $1.6 trillion in revenue. he took it down to 1.2 as a compromise in this legislation we get $620 billion. very significant, changing the high end tax rate. but that is not enough on the revenue side. >> steve: thats not enough. nancy pelosi admits she still is looking for more new revenue taxes and thats code for jacking up taxes on perhaps everybody. but the minority leader promises it would not hurt the middle class. is ...

D.c. now and the battle over taxes and spending and the nations crushing debt. top democrats are now signaling they want to go back and get more of your money in the debt ceiling debate that is coming, despite the fiscal cliff deal that saw taxes go up 77% of americans. nancy pelosi says it is not enough money really that was garnered through that deal but republicans vehemently disagree. they say it is time to get serious about cutting spending. watch some of this. >> in this legislation we get...

And i think to say that this was the easy part, since when is raising taxes, $620 billion, the easy part? i agree that there are flaws in this deal. there are things i wish it had done. the real question is what we do now. and in a sense, i would like to challenge the premise of this conversation. we could spend all of our time arguing about how to fix the debt in 2035, and what to do about 2035, or we can stabilize the debt at a rate thats way below greece, way below most countries, with a deal...

And i think to say that this was the easy part, since when is raising taxes, $620 billion, the easy part? i agree that there are flaws in this deal. there are things i wish it had done. the real question is what we do now. and in a sense, i would like to challenge the premise of this conversation. we could spend all of our time arguing about how to fix the debt in 2035, and what to do about 2035, or we can stabilize the debt at a rate thats way below greece, way below most countries, with a deal...

Base and win the game. you have to go for the big deal. and its time for us to sit down, lock ourselves all in a room, not just a couple of folks, and come out with a deal. at the end of the day, you end up doing what ultimately happened, which is if you cant agree because you have the extreme sides, then put your best proposal on the table and let the best proposal win. >> ej, you think that view is too narrow. this is a better deal than its gotten credit for. >> i think im the only person here...