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Medicaid and medicare. what they're doing is dialing back ever so slightly the size of the magic asterisk. >> they want a tax reform that brings the tax down to two rates. 10% and 25%. he's not going to say in this budget how. that seems to be difficult. >> it's impossible to bring down rates for higher earners which is what happens when you move to rate structure like that without raising rates on low and middle income people. it's not mathematically possible. the trick is typically there's something somewhere because you can't accomplish all the objectives at the same time.

Medicare and nothing which is going to happen. what they are doing by xeping the revenue is dialing back ever so slightly the size of the magic asterisk. >> he is a "wall street journal" op-ed out tonight where they talk about it they want a tax reform that brings the it down to two rates only. 10% and 25%. he is not going to say in this budget how. he says forthcoming showing how. that seems to be a very difficult thing to do in a mildly progressive way. >> it's mathematically possible to bring oun rates for high earners when you move to a rate structure like that without raising rates on low...

Going to happen. what they are doing by xeping the revenue is dialing back ever so slightly the size of the magic asterisk. >> he is a "wall street journal" op-ed out tonight where they talk about it they want a tax reform that brings the it down to two rates only. 10% and 25%. he is not going to say in this budget how. he says forthcoming showing how. that seems to be a very difficult thing to do in a mildly progressive way. >> it's mathematically possible to bring down rates for high earners when you move to a rate structure like that without raising rates on low and middle income people if ...

If you lower rates and get revenue because of some magic asterisk, it's not there. what you end up with are bigger budget deficits. he tipped his hat to that idea, but he stressed the need for closing loopholes and broadening the tax base. secondly, he's not talking about revenue neutrality. he's talking about new revenues, and he referenced a deal with the president where they had $800 billion in new revenue on the table. third and this part goes against the election outcome, he reiterate z his no on increased tax rates. those are the three points that came across to me. >> he said twice he d...

Messina and axelrod were laying out, i think they need to redefine a few words and one is mandate. we have a humandate. a lot of other people who weren't white men voted for barack obama and they have things they want and that includes taxes on the very wealthy. >> the republican party doesn't recognize those people you just referred to. jared, isn't speaker boehner simply reiterating the romney tax plan that basically expands revenue with a magic formula of growth and cutting loopholes that no economist as intelligent as you would ever find believable? >> to some extent he is, and one of the ...