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Americans. we have stuart varney. he makes his case how. >> reporter: he says it is necessary to raise taxes on the rich to cut the deficit. do that and we will show the world that we are serous about cutting the deficit. secretary geithner of course speaks for president obama and redistribution, ie tax the rich is at the bedroom of the president's policy. that statement from treasury secretary geithner comes just as eight out of ten economists are saying, wait a minute, the economy is slowing down. they've all ratchetted down their estimate of the sphe's per performance in the immediate futur...

What? i think we should extend them. i guess they could veto it. >> the thing is, there have been tax cuts that have impacted the middle class, too. those are set to expire as well. middle class tax cuts expiring. upper income tax cuts expiring. tim geitner says those upper income tax cuts gotta go. here he was yesterday. >> what the president is proposing to do is leave in place to extend tax cuts that go to more than 95% of working americans and to leave in place tax cuts that are very important to incent businesses to hire new employees and to invest in expanding output. we also think it's ...

The bush era tax cuts expire. critics say it will be a tax -- critics say a tax hike right now would be a serious blow to struggling americans but trerbee secretary tim geithner says this weekend it's the upon thing to do, listen. >> it's responsible to let the tax cuts expire that just go to 2 to 3% of americans, the highest earning americans. juliet: andrea tanteros are here. democrats say let the tax cuts expire, republicans say extend, extend extend. i have a couple of questions about this. andrea do you think repealing tax cuts are going to help or kurt the competent and why. >> we have t...

This bill come from inside the health care system, come from money we are already spending. there are some dollars raised from the highest earning americans, and, really, a fairness, medicare taxes are paid for by people who get salaries, they are not charged to honor an income. it levels that playing field, so those who earn $250,000 as a couple will begin paying medicare taxes on their income, but the great news is that this will also lower the deficit over time, lower costs for families, lower costs for small business owners. it is a major step for a lot of middle class americans who right ...

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