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Washington or is it all -- i mean, do you hear any of this discussion or do they really believe, certainly, the white house and the treasury, that tax rates like this don't matter, at that ultimately-- >> no, they do to a degree. if you talk to the officials iran up, come on, so we're going to raise the rates, what is fascinating to put it in the bigger context of the debate about tax revenue, the economists have the static view, you've got x-amounts of capital gains income and you get 20% more tax revenue. >> you don't, because people decide to shelter it. ir transe year before, when the amou...

We couldn't have a debate here. megyn: axelrod's point says, look we're going to help the middle class we get that. he says if we also extend the bush tax cuts for the wealthiest 2% it's basically going to cost this country $700 billion. where are the republicans who are so worried about the deficit when we are we -- we're talking about this $700 billion that we're trying to save by taxing the so-called rich. >> there is a static view of the economy not a dynamic view from axelrod and that is that the wealthy, the business owners are going to work just as hard no matter what their tax rate is....