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Republicans because of the impasse on taxes. at first the republicans refused to raise any revenue at all. then they said we'll agree to raise a small amount of revenue but only in return for making all of the bush tax cuts permanent at a cost are $4 trillion, lowering tax rates for wealthy people even below the bush levels, paying more that by closing a bunch of loopholes. what that would have meant is that the two opportunities for a revenue contribution to a big deficit reduction package, the bush high end tax rates and closing loopholes would both be gone for the next decade for a paltry a...

Right within the context of serious tax reform right now. the simpson commission proposed three personal rates, 8, 14, 23 and a corporate rate of 26. >> paul: right. >> riffland 15% person, 27% corporate and 6.5% sales tax and this is where any serious tax reform is going to occur, it's in the discussion of these issues and we'll just have to work through whether we'll end up with a sales tax or not. >> i was just saying the other reason herman cain is going to be taken seriously, you know what you're getting philosophically, if you look at old film clips on mitt romney from the '90s and 2000'...

Right within the context of serious tax reform right now. the simpson commission proposed three personal rates, 8, 14, 23 and a corporate rate of 26. >> paul: right. >> riffland 15% person, 27% corporate and 6.5% sales tax and this is where any serious tax reform is going to occur, it's in the discussion of these issues and we'll just have to work through whether we'll end up with a sales tax or not. >> i was just saying the other reason herman cain is going to be taken seriously, you know what you're getting philosophically, if you look at old film clips on mitt romney from the '90s and 2000'...

A letter from the republican leaders of the house and senate to the federal refuse serve board instructing them not to take any action to lower interest rates in the next two days? that is as one former commissioner said, outrageous, and indefensible. >> do you believe that that is -- do you believe that is an attempt by the republicans to manipulate the federal reserve in some way? >> why else would -- come on, why else would they send the letter? they are trying to put political pressure on them not to lower interest rates. when i go home to illinois, the businesses i meet are struggling to ...

Savings, rather than going to reduce the deficit and the debt, are being used just to afford tax relief to the most fortunate americans. it's just a matter of making sound choices and having a sense of shared sacrifice when you're doing deficit reduction. >> are we going to keep the household deduction for interest payments? are we going to keep the deduction when you itemize for charitable contributions or are we going to get rid of those? >> what the president put forward in his budget already is he suggested that we limit the amount of deductibility for those at the higher end so that they ...