Detailed text transcripts for TV channel - CNN - 20110412:00:56:00
>> we need new tax source and one, i would put a transaction tax on wall street. we have massive churning of stocks and derivatives and bonds and everything else. a swipe fee like they put on credit cards every time that one of these trades occurs 1 every 10 milliseconds. that's second thing. second need a consumption tax. and third, let the bush tax cuts expire. if you put those three things together you can get the $200 to $300 billion of revenue that we need, match that with the spending cuts the entitlement reforms and the defense rollback, and you begin to put together a rational plan. >>...
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