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There would be too many people who couldn't take the full amount of that. so he bumped it up so it would be more politically palatable. as you're pointing out though, there is no way for his plan to lower rates by 25% and not raise taxes on the middle class. there is no way to do it. >> every since he first mentioned the bucket of deductions at 17 grand i've just been sitting there thinking giving me a cost estimate on this and i can't quite do it on my calculator. so third way came out today and i got it this morning. this is fantastic. my guess would have been maybe a little bit more than th...

There would be too many people who couldn't take the full amount of that. so he bumped it up so it would be more politically palatable. as you're pointing out though, there is no way for his plan to lower rates by 25% and not raise taxes on the middle class. there is no way to do it. >> every since he first mentioned the bucket of deductions at 17 grand i've just been sitting there thinking giving me a cost estimate on this and i can't quite do it on my calculator. so third way came out today and i got it this morning. this is fantastic. my guess would have been maybe a little bit more than th...

Under prepared and over confident. as we pointed out at the top of the show, you are vice chair of the obama campaign, did you president underestimate his opponent and did it take the wind out of your sails for the work you're doing for the president to get re-elected. >> i'll tell you what, it's really hard to argue against somebody who shows up with totally new proposals that says, oh, he loves teachers and last week he said obama wants to hire more teachers and i'm not for that. that suddenly he's for -- he's not for cutting taxes on the top earners in this country, on the wealthy, and, of ...

Call it the economy tax. it's been crushing. at the same time, gasoline prices doubled. electric rates are up, food prices are up. health care costs have gone up by $2500 a family. middle income families are being crushed. the question is how to get them going again. >> governor romney defended his tax plan repeatedly. the romney proposal would give breaks to the wealthy while putting a burden on the middle class. >> i know you and your running mate keep saying that. it's popular, but it's not the case. i have five boys. i'm used to people saying something that's not always true but keep on re...

Like preventative health care services. they took the money and just ran. now, the romney proposal would actually accelerate the insolvency of medicare by eight years because unlike the ryan plan, which took those savings, what romney is saying is, let's actually have the medicare plan go insolvent earlier because he would get rid of some of the changes we made. for example, and this is a very important point, we made some of those savings by eliminating overpayments to the medicare advantage plans. these are the private insurance companies. what romney is saying is he would reinstate those ov...