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CNNW Starting Point July 10, 2012



personal returns. joining us now live, congressman steve king, a republican from iowa and member of the tea party caucus. good morning. good morning. the president wants to keep lower taxes for 97% of americans, the treasuries department s office of tax analysis for the tax year 2007, under bush, 3% of all tax returns were for incomes over $250,000. explain the view that obama s proposal would hurt. walk me through it. i recall back when the bush tax brackets were first implemented, a decade ago. the argument was how do you give tax breaks to people not paying taxes that s a number approaching or exceeding 50%. the lowest bracket would receive a 50% tax increase if the bush tax brackets were allowed to expire. i think this is just another one of the class pieces the president has done, dividing people along whatever lines he can demographically to how is that class envy? i m sorry. you say this is a class envy play by the president. what do you mean? i ....

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Detailed text transcripts for TV channel - FOXNEWS - 20120411:10:37:00

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 fair share. all right. let s follow what we call the buffet rule. they may call it class envy and that s just being fair. well, he says it s fair but stuart varney says it s just a ploy to distract people from his record on the economy. so wait a minute, stu is calling the president s bluff this morning or is the stock market ....

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