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Detailed text transcripts for TV channel - FOXNEWS - 20130102:17:04:00 - Vimarsana News

Detailed text transcripts for TV channel - FOXNEWS - 20130102:17:04:00

Gave for not supporting it. >> reporter: because this bill which orange natured in the senate and passed by own overwhelming 89-8 vote margin has $620 billion in new tax hikes and only $15 billion in spending cuts. that is a 41 to 1 ratio of new taxes to spending cuts and that just did not fly with most house republicans. last night the bill actually passed the republican-controlled house with a majority 172 democratic votes. congressman michelle bachmann is one of the members who voted no. and her reason is this. quote, rather than a deficit reduction plan the senate sent us agree government ...

Detailed text transcripts for TV channel - FOXNEWS - 20130102:16:07:00 - Vimarsana News

Detailed text transcripts for TV channel - FOXNEWS - 20130102:16:07:00

Self-imposed deadline for more than 17 months and they still managed to blow past it. finally approving a tax deal last night that doesn't seriously address the spending cuts or the nation's ballooning deficit. so who wins and who loses with this deal? talk about it with jonah gold perg, editor-at-large at "the national review" and a fox news contributor. before we get to the who wins and who loses, let's restate some of the details here, jonah. we have got $4 added to the nation's debt over the next decade. payroll taxes are up. sequestration is still looming two months down the road. we have...

Detailed text transcripts for TV channel - FOXNEWS - 20130102:10:15:00 - Vimarsana News

Detailed text transcripts for TV channel - FOXNEWS - 20130102:10:15:00

The cbo estimates the bill will only cut spending by $15 billion while raising 620 billion from tax hikes patti ann. all wage earning are goes to see taxes go up. >> they pcompromised not raisin taxes. they did not stop the 2 year tax cuts from expiring. all american also see social security taxes bounce back this year to 6.2 percent. that will means a 1,000 dollar tax increase on a 50,000 dollar salary. the hire payroll tax will cut economic growth by .6 percentage points this year. and meanwhile we have a bigger fiscal cliff on the way. we have the debt ceiling and the sec quest ter is sti...

Detailed text transcripts for TV channel - FOXNEWS - 20130102:19:35:00 - Vimarsana News

Detailed text transcripts for TV channel - FOXNEWS - 20130102:19:35:00

It increases tax rates for capital gains and dividends from 15 to 20% on people 0 who make more, and increases the estate tax and when you die and want to pass things to your offspring, 5 million, you don't pay 35%, you may 40% in taxes and on and on go the tax increases and they say, basically 620 billion dollars in new tax hikes for 15 billion in spending cuts. $41 in revenue for every $1 in cuts. there are no cuts, it's all about revenue, but the good news sthe good news is, the cuts are coming, michael, they're now going to get serious and i point you to the senate majority leader, mitch m...

Detailed text transcripts for TV channel - FOXNEWS - 20130102:17:08:00 - Vimarsana News

Detailed text transcripts for TV channel - FOXNEWS - 20130102:17:08:00

Constituents and they just want to be loved. jon: i misstated it last hour when i said that it raises spending, it actually raises revenues, taxes go up by $620 billion. what did they do on the spending side? >> they did virtually nothing. well to be fair they cut spending in the -- i can't remember the exact number. jon: 12 billion i think is the number. >> yeah thin they turned right around and added some 300 billion in new spending that completely offsets the minor, the modest cuts that they made. awful it is just goodies for people, goodies for constituencies back home and things like that...