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While our on. new kids on the block. >> did fineman win -- >> no, his colleagues did. he made it clear, he is proud of his colleagues. i give him credit because he is a great man generally. i'm just teasing here to start this thing. it seems to me the republicans are banking, howard, on the economy taking another fall. and then really having an opportunity. the way it is now it looks like it favors obama but if it takes a bit after fall is called second dip, the president needs to be prepared, if it takes a second dip, they need the argument to make. they don't need the fairness argument but f...

Going to be barack obama's opponent, mitt romney. it fits right into their attack on him because he's extra wealthy and because he only paid, you know, less than 20% on his wealth last year and the year before. this is what this is all about. the fairness argument but really attacking mitt romney. >> it was a brilliant question by -- by chris wallace because the president actually pays less in taxes than his secretary, anita breckenridge makes about $95,000 a year. and the president pays less than she does so he is making the case why it's not going to work. >> i heard when i was younger, this...

Everything that the rnc chairman said. i'm just saying because i want to keep you focused, and i want you to answer the question that candy asked. why shouldn't millionaires pay more in taxes? >> they should. we should reform the entire code. >> so you support the buffett rule? >> there's a big difference between the buffett rule and reforming the tax code. i don't quite understand how you -- if people enjoy the majority if not all of their income from investment income, you have to raise the capital gains rate because they -- you have to raise the dividend rates. i don't know how you -- i don...

Extremely high on the wealthy. why? you have wage earners building wealth. it's a fairness argument. people get it, very simple and easy to make that argument. why shouldn't warren buffett not pay the same tax rate as his second. republicans have never been able to show a connection between more largess for the wealthy and more jobs. it hasn't happen thad way. the presidents that have raised taxes have ra resulted in higher job growth. and president o >> i think it boils down to a three-letter word for the obama campaign and that's war. they are about the war on the milledle class, the war on ...

Would have picked to really make a cornerstone of a huge speech with a lot of cheering people. >> bret: steve? >> to go back to the judge's point about whether president obama knows the economics, he does know the economics of it. he gave an answer back in august of 2009, which n which he was specific about the economic impact of raising taxes on the wealthy. this was during a reception. i think it applies during a slow recovery where he says it sucks demand out of economy and punishs business. the president made the argue in the august of 2009. he fully understand what is he is doing here. th...