Detailed text transcripts for TV channel - CNN - 20100413:16:14:00
By how much would congress have to raise taxes if you wanted to reduce the deficit by what, is it, 3% of the gdp? >> right, 2%. if they wanted to do that by 2015, which is the goal for the president's bipartisan fiscal commission, the tax policy center figures that if you wanted to raise income taxes across the board, you would have to jack them up by about 30%. so that means the lower rate -- the lowest rate goes from 10% to 14%, and the top rate goes from 35% today to 48%. that's the mildest version. >> wow. >> most people don't want to raise taxes on the lowest income folks, so maybe they w...
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