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Capital gains. so what did he do? he brought up a very popular republican, brian, to try to sell it. >> yeah, he did. his name was ronald reagan and he took an excerpt from a speech. let's hear what president obama did yesterday to try to get ahead of monday's vote on whether the buffet bill would actually be passed. listen. >> several years ago, one of my predecessors traveled across the country pushing for the same concept. this president gave another speech where he said it was crazy. that's a quote. but certain tax loopholes make it possible for multimillionaires to pay nothing while a bus...

Bill: got some breaking news right now. we mentioned that the general election campaign seems well underway and here's more evidence of that. in a moment, you'll hear from the president pitching his fair share tax plan in washington. it's called the buffet rule, named for the billionaire warren buffet who famously marveled that he pays a lower income tax rate than middle class workers which is kind of true. stephen moore of the "wall street journal," we say kind of because it depends upon where you're getting your income. in an economic sense, first of all, let's go over this with our viewers....

If warren buffett makes a hundred times more money than someone else, he pays a hundred time more tax. why can't we have a flat rate tax system? i'm not talking down america. you are cut meg red, white and blue. i just want a fair advantage. >> okay, we will have a vote. you're predicting stephen moore, here on this program, that republican minority of the united states senate will support the buffet rule. >> they will not because it raise he the tax rate to 30%. we have to bring our rates down for growth, not up. >> okay, robert rice? >> well i was going to say that

Back. >> was that really the cow noise there or was that toba, the cow noise? >> that's definitely the cow noise. that sounds like a cow in paterson. >> it's a cow. >> you know that? you know that exact sound? it's a paterson cow? >> i live a couple of towns over. >> moo-ving right along. stock market seeing the sharpest decline in months. the dow jones, nasdaq and s&p taking a big hit but the president was out hitting the campaign trail yesterday. his message -- you guessed it, tax the rich. >> and finally, we've got to make sure that we've got a tax system that reflects everybody doing their...

Political gimmick. that's the one side. we'll hear from the president and his side coming up in a matter of moments when he comes to that microphone in washington. martha: we expect that very shortly, and one of the questions is how much money would actually be raised if you could implement the buffet rule, which i think is about $4 billion in a year, and that, according to some of these numbers, is about the same number as the u.s. government debt runs up per day. so it's a drop in the bucket, as you guys have been talking about, in terms of the actual numbers that would translate. so it leav...