Detailed text transcripts for TV channel - FOXNEWS - 20121210:12:25:00
>> brian: the president says we must tax the rich because it raises revenues. well, california just voted for a massive tax hike last month and already revenues are up. no, no, they are down $800 million. stuart varney is here. stewart, you have a simple explanation to why that is. >> the moral of the story is this: if you raise taxes, people adjust their financial behavior. you raise taxes on the rich, and they will either move or avoid that higher tax rate. and there is a lesson here for president obama. you look down the road, you raise taxes on the reach on a national level, and you won't ...