Detailed text transcripts for TV channel - MSNBC - 20111109:12:11:00 : vimarsana.com

Detailed text transcripts for TV channel - MSNBC - 20111109:12:11:00

and have them pay 35% that everybody else pays. >> all right. >> which really is the buffett rule. when the president talks about raising the top margin rate. if you want to get at warren buffett, you've got to -- >> do you support that, as well? or do you think raising tax rates is enough? >> tax policy is for two reasons. one, to raise money because if we want to hire people to provide services, your money's got to come from some place. and in this country, we have taxes and get it that way. the other thing is that you have taxes to incent or disincent certain kinds of economic activity. so when we didn't want farmers to plant, we paid them to not plant. in this day in age, that doesn't make any sense. we paid people to drill in one place and not in others. we paid people, for example, the sales tax, which is generally not collected on internet sales, we did it to strengthen the industry. but whenever any of these industries change or the world changes, we never get rid of any of those tax cuts. and you can go through a whole bunch of them and say they're

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