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Motivated mostly by the president's reelection effort that he would not be making a special like this tonight with those points you were just describing if he weren't running for election, reelection likely against a mitt romney? >> well, in all fairness, any president who is serving right now must recognize the need to deal with the long-term debt. revenues are part of that solution. they definitely are. that is an objective reality. they are part of the solution. how do you raise the revenues? history of the 20th century says the american people believe the best way to do that is you this pr...

But also as the president cranks up the 2012 reelection effort. he is also trying to rebuild flagging support for the $447 billion jobs bill that he has been pushing so hard. there are a lot of democrats still not quite ready to support it. this morning, one of the senior advisors was touting the benefits of this economic plan. >> the jobs act, the question is are we going to sit by and do nothing? or are we going to do something that is fiscally responsible. tax cuts into the pockets of every middle-class working and construction work are, puts teachers back on the job. >> reporter: he was al...

The wealthy aren't paying their fair share? juke manipulate statistics any way you want. >> chris: wait a minute, you don't think the top 10% -- [ talking over each other ] >> they are making a ton of money. >> chris: but they are paying 70% of the taxes. >> 22,000 millionaires pay less effective tax rate, un15%. we have inequities. >> shannon: that was white house seen for adviser david plouffe duking it out with chris wallace overtaxes. going to be a large issue. mr. obama is on the west coast for a campaign fundraising swing. steve centanni is following that and engines more. >> reporter: t...

Raised from the 2012 presidential race. 70 percent said it will exceed billion dollars. today is the day that the white house launched the reelection effort. >> this really is about you. we are focused on reelection. first and foremost focusod deal width problems and opportunitis and crisis that are in our path and that will take a lot of the president's time and my time. >> grass root's levels, it is individuals talking to other individual and making a difference. last part is from launchh video today. as you can imagine republicans were quick with a response. we hope and you hope, >> my hope...