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You accumulate assets above $5 million youll pay a 35% tax. finally, with regard to what the president just said about blaming the republicans and democrats, what democrats and republicans ought to be rallying around now is something youve been talking about on this show and others as well. how do you reduce the long-term debt. there are two types of debt here. one, the debt accumulated to try to get us out of this crisis that we face. and, two, the debt were accumulating because of entitlement ...

>> republicans are going to have to explain to the american people how making the tax cuts on the high end permanent squares with their desire to start reducing deficits and debt. i dont think that formula works. theyll have the opportunity to make the case. >> joe, he did strike a deal to make that formula work. >> le struck the deal. hes the guy who decided on the timing of the deal. mike barnicle, does somebody need to inform the president that its not the republican whose are going to be exp...

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