Detailed text transcripts for TV channel - FOXNEWS - 2012101

Detailed text transcripts for TV channel - FOXNEWS - 20121012:05:52:00

trillion in loopholes is cut the mortgage deduction from middle-class people, cut the health care deduction, middle-class people, take away their ability to get a tax break to send their kids to college, that's-- is he wrong about that? >> he is wrong about that. you can cut tax rates 20% and preserve the important preferences for middle-class taxpayers. >> not mathematically possible. >> it's been done before. this is what we are proposing -- >> it has never been done before. >> it's been done a couple of times -- increase growth. >> ronald reagan. >> now you are jack kennedy. [overlapping dialogue] >> republicans and democrats have worked together on this -- >> that's right. >> i understand you are not used -- >> we told you what we are going to do. when we did it with reagan, he said, we are going to do this. >> that's how you get things done. let me say it this way -- >> from the republican congress, working bipartisanly?

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