Detailed text transcripts for TV channel - FOXNEWS - 20110522:22:09:00
And they looked at the fair tax and said it will not work. here's why: they said to create the revenue that you are talking about, it would have to be a 34% tax rate, not 23%. and, with the pre-bates they say it would benefit low and high income taxpayers and would raise taxes for the entire middle class, anyone making between 15 and $200,000. >> chris, they were dead wrong. here's what happens. >> chris: this is president bush -- >> i know this is his commission, when i heard the commission make that assessment of the fair tax i was screaming, other people who knew something about the fair ta...
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