Detailed text transcripts for TV channel - FOXNEWS - 20101111:09:02:00
Deduction. they recognize some will want to add tax breaks back in. >> we say fine. how do you want to pay for it? whose taxes do you want to raise? >> reporter: the total cost is $1.1 trillion a year. $100 billion of savings would go to reduce the deficit. $1 trillion would cover reduced tax rates for everyone. individual rates would fall to 18, 14 and 23%. down from current top rate of 35%. they would also lower corporate taxes from 35 to 26%. on social security, they'd raise the retirement age to 68 by 2050. and 69 by 2075 among other things which drew immediate fire from one of the democra...
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