Detailed text transcripts for TV channel - FOXNEWS - 20130112:15:03:00
>> brenda: well, now, this does hit lower and middle class americans harder because there is a limit to the amount of income that is taxed. but toby, do you think the higher income americans can make up the spending? >> well, yes. and the fact is, whether this sounds fair or not fair, here are the facts that the top 20% earners in the united states, not the 50% who don't pay any taxes, by the way. but top 20% we look at and measure for discretionary spending because that's the margin, the spending and certainly, gary is right that we will have a reduction, but look it, we've made it out of the...