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Right spot in the tax argument. and my bet here is that he's only going to get better as refining and simplifying that point. >> yeah, they keep pushing on what turned out to be an open door, lawrence. a few months ago, a lot of analysts, including this one, me, wondered if pushing the fairness argument on taxes was risky for president obama. but it turns out, in a time of a bleak economy, when everybody's looking for a fair shake, that this argument really works. and it's not just that rich people are going to get more, what the president is saying now is, middle class voters are going to get...

You're saying about, jack, whether the political system has the capacity to do this thing. >> it doesn't. >> it doesn't appear to. but i think that's a profound statement about the political system. forget all of these arguments. i mean, just as like a test of the capability of the legislative process to raise marginal rates, which we haven't done since clinton. right, it's been since, i guess, '93 that budget. >> marginal rate increase in the health care law. >> that's true. and capital gains tax increase of 2.81%. so, this question of whether we can do this, i think, is still remains as real...

They need to be on top of that. >> it undermines obama at the theme they heard them stress earlier. fairness argument by the rules. if you live by it, completely undermined the argument. he understands that. and what people end up with are hand-outs. >> bret: on this show we can promise we won't always look at the shiny thing, the political back and forth day day-to-day. we get in the policy weeds. and in virginia they were debating the merit of obamacare. check out peter doocy's report on that on the home page, foxnews.com/specialreport. next up, the friday lightning round.

they bear the name of his predecessor. president obama is seizing the bush tax cutted and calling for them to be extend, but not for everyone. the president wants to let them expire for the wealthiest americans. that puts him at odds with congressional republicans, as well as his rival mitt romney and sets the stage for a very heated battle with less than four months to go before the election. our white house correspondent brianna keilar is covering this for us. first of all, why is the president doing this today? >> reporter: well, wolf, this is certainly part of his narrative that ...

Saying is we have watched since 2008 these words mixed up all over the place, and i think it's time that we have to have a bit more compassion. >> capitalism is getting a bad name because we're not practicing it. when obama says we need to create a society where everybody has a chance to succeed -- >> he means that. >> but we don't have to create that. it's already here. the government just has to get out of the way and let the free market function and stop interfering with all their regulations and central planning. >> i understand, but i don't want to get away from the fixes because everybod...