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Frankly, we're watching these people pay the smallest amount of their income in effective tax rates in over 60 years so we do have leverage and it's called tax policy. ever since we cut tax rates down to these historically low levels in the history of our country, we have seen this type of income disparity. so we don't necessarily need to bail out the companies to get leverage, we have leverage, it's called taxes. >> matt, there's one thing we could do really fast. >> i do want us -- we've still got a lot of ground to cover and we'll see if president obama takes up the taxes on the top coming ...

Overnight, we're not going to get out of it overnight but i think it is going to take some carefully crafted measures so we don't set the economy on its ear but yet allow business to grow and create jobs and move forward into the future. >> well, and i'm critiquing paul ryan's plan, but the truth is, as you know, president obama's budget that he put out earlier this year adds even more debt than paul ryan's and the republican plan does. why do we need these 20, 30, 40-year plans to balance the budget? back in the mid-'90s, both parties got together and came up with ways to balance the budget o...

Do you know who started the federal banking system in the united states of america? >> he's on the $10 bill. >> alexander hamilton. >> it's an extraordinary legacy and it's perhaps unmatched by no other single president. he was never a president himself. >> never president but still a giant in american political history. alexander hamilton, our first treasury secretary, and the man credited with shaping modern american capitalism. a new documentary airing tonight on pbs traces his historic past. >> first fiscal system, government's first accounting system, first central bank, first coast guard...

Paid down the road. >> so you think you can tax up to 23% of gdp? because that's what obama's budget from earlier in the year forecast. >> of course not. go ahead. >> maybe it could, i wouldn't recommend that. but the point is there is $650 billion of temporary tax cuts expiring over the next few years. most of those expirations should be allowed to occur. if they were, we would still have taxes under 20% of gdp and we have to cut a lot of spending too, because spending is at 24%. >> you're a democrat, david stockman. you're sounding like aç democr. >> very interesting. >> let's get sam in w...

Expire for those making $250,000 a year. still, the whole debate remains surreal. paul ryan which has many swooning over his supposed courage actually adds $5.7 trillion to the national debt over the next ten years and doesn't balance the budget until the 2030s and adds $14 trillion to the debt between now andç then. the old definition of chutzpa -- the new definition has to be republicans backing ryan's plan that adds trillions in debt and then saying they're not sure they want to lift the debt limit. you see the insanity here, yet the media falls for it. obama has punted on all the hard ch...