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Cuts. i want a sense from you when you say open to other ideas on revenues like closing loopholes and limiting deductions and write offs, the president's folks say it will have to equal the revenue you would get from reverting back to the old rates. would you endorse limiting deductions and special allowances to the point they presumably raise the same amount of money you would get returning to the clinton rates? >>guest: depends where the spending reductions are. this is part revenue and part spending reductions. the president said he wanted three part spending reductions to one part revenue ...

The tax rates on the rich but the republicans are creeding more tax grounds on potentially adding to that with limited deductions on the wealthy, or, say, they focus only on deductions there is a scenario where they limit the deductions and write offs and the rich pay more in taxes than they would if they just raised the rates behalf, to where they were during the time of bill clinton? >> and that is why everything is just talk. just talk. >>neil: you think they will have an incredible deal by the end of the year? >>guest: i have told you before, i'm slightly optimistic. you cannot be more tha...

Hanging on the thread here that if he just limits rich folks' deductions and write offs that will satisfy the president. the president seems to think, no, no, no, you have to hike rates that is the only thing that will work. >>guest: well, why have any real objection to what the president says. we did extremely well during the clinton era and i am a republican, died in the wool but i feel comfortable moving up our rates but with that has to come a significant reduction in entitlements and costs. >>neil: as a businessman, you hear some democrats say they don't want to touch entitlements or get ...

It's like i'm seeing the disaster playing out in slow motion. i'd love to be wrong, but i think we are sinking fast and we haven't hit anything yet. we are steering a scary course. little more than five weeks away from thehip hitting the sail. republicans and democrats are doing it. maybe something is going on behind the scenes. i'm not seeing it. i am seeing a lot of iceberg. iceberg one, talking about the president not only sticking to his tax the rich, he is doubling down on it. insisting $1.6 trillion in re-knew as part of any end of the year budget fix and the economy can more than deal, ...

In grand junction, colorado, the new plan is no income tax increase next year. >> neil: we know taxes will go up, healthcare law, medical devices and host of others. selling a home, assets, et cetera. what else? >> that's what we don't know. he's promising that for one year he won't raise incomes taxes. we know the tax increase in january could have been avoided if the democrats for two years, they could have made the tax cut permanent for foreign people, middle income people, left-handed people. they made it permanent for nobody. that telegraphs the plan. after a year they will let them go up...