Detailed text transcripts for TV channel - CNN - 20110217:01:02:00
If you want to balance the budget that's the upper limit of what you can spend without borrowing money. and one -- so that's the question. we're currently spending 25% of gdp. we got to bring it down to 19% year after year on an average basis and if i can just point out. >> absolutely. we had that chart up on the screen so people could see the red line. just so people understand, it was basically the 1920% of total gdp that came in in taxes and the upper line, explain it real quickly. >> the top marginal tax rate at various points over the past 60 years, it's ranged from in the 90% range down ...
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