more spending cuts than revenue raise. in the past it has been 1:1 and the simpson and bowles put 3:1 but--. >>neil: but the income tax hikes out from the white house? they are in the happening? and removing subjectscies and the like, they are in? >>guest: i want us to go to a consumption tax. each of our economic competitors use a consumption tax. you have reported on your show, the truth, that this is a consumption-based committee. more than 75 percent of our economic activity is in consumption and we are the only industrialized country that does not use the consumption tax and that is why we are the greatest debtor nation and just in our lifetime we used to be the largest creditor nation.
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