Detailed text transcripts for TV channel - FOXNEWS - 20100302:15:18:00
Themselves into a situation where essentially, the political class is going to bail itself out, with a tax increase, but, i think a very specific kind of tax increase. just let me put a couple of numbers on the table. the current budget spends 25% of gdp. that is up from about 21%, and when you talk about a gross domestic product we have of $14 trillion, that is a lot and tax revenue is tradition 19% of gdp and you have a 6% gap and that is is a lot and i think what they are heading towards is a value-added tax. a tax on all consumption, in the country. martha: on everything. >> and it would p...
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