Tax Explosion News Today

Taxes? rates are going to go up for wealthier americans, period? >> yes. because theres no way, theres no way to do anything other than hurt the middle class if we dont do that. >> chairman, when you hear that, do you think right after this election, as we face a debt ceiling negotiation, all of these cuts that are going to go into effect, youre looking at another standoff here over taxes? >> well, theres one more example of how the president disagrees with bowles/simpson. bowles/simpson says re...

Election, as we face a debt ceiling negotiation, all of these cuts that are going to go into effect, youre looking at another standoff here over taxes? >> well, theres one more example of how the president disagrees with bowles/simpson. bowles/simpson says reduce tax rates across the board by closing special interest loopholes. the reason people like me didnt support bowles/simpson it ignored health care, the drive of our debt. we put up alternatives. the president hasnt offered a single solutio...

This debt crisis, to deal with this tax explosion that happens at the end of the year. more importantly hes disavowed any other alternative. thats how you get to compromise, david. you pass what you believe. the senate passes what they believe. you compromise. that isnt happening because the president and his party leaders in the senate are refusing to do anything to address this debt crisis. whats going to happen at the end of the year i think will largely be determined by who wins this electio...