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Former Governor Phil Bredesen, (R-Tenn.), on President Obama's $1.6T proposal for tax increases over the next ten years.
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-- Obama's latest plan to cut the deficit calls for one point six trillion dollars.
And higher taxes over the next decade that figure doubled -- 800 billion dollars that was discussed last year were -- -- Republican later us.
Is this the way to broker a bipartisan.
Compromise.
Former Tennessee governor -- -- -- is a member of the fix the debt campaign joining us now.
From Nashville that's a way to really kind of bring -- sides together is -- not governor.
I think.
I both sides there are positioning themselves right now -- wouldn't take anything too seriously if anybody said at this point.
What we're trying to do is just say if Republicans and Democrats they have to agree on something and will support that something as long as it solves.
The problem but I have to agree and again it's it and I'm -- -- something that Connell McShane said on our morning call this morning.
That where it was when President Obama went from 800 billion dollars in new revenue.
To one point two.
Trillion that the deal back in 2011 fell apart so is this just his way of negotiating back to the level Liddy wanted.
A little more than a year ago.
Lives -- don't know what's in the president's mind but I'm saying at this point in time revisit these are very high stakes negotiations there's a lot at stake for.
For all the parties in this -- I would expect people on both sides should be coming out to doing a little positioning now in some way politics works but in the end I really think there's a good chance that they will come together they'll find some compromise that works and keeps us first -- -- from going off this cliff and second of all starts to really address this deficit issue over the long term it's gotta be done.
But the way -- the president's plan which by the way didn't get that this one point six trillion dollar number didn't get a single vote in congress earlier this year.
The way guys about it is raising tax rates on wealthier Americans and part and removing some deductions and loopholes.
But if you focus just on that.
Though top 2% of taxpayers.
Then -- never get tax reform if you're not willing to get rid of the deductions across the board and trying simple by the tax cuts or do you believe.
The tax reform.
Is a dead animal at this point.
No I think actually I believe that ultimately.
Tax reform in terms of close enough loopholes are taking care of some of the have been enormous problems -- got a tax expenditures right now.
I really think that's ultimately where the solution lies.
And I think most of the people involved in this fix the -- campaign feel that as well and not just raising marginal tax rates on a few on a few people.
Again -- there's a lot of positioning going on right now on both sides and and -- you know we need to watch it but take things with a grain of salt right.
Now -- we can't because we only have till the end of the year January want to deal with this to avoid automatic tax increases and spending cuts.
And a new poll out shows that a majority Americans think that we well that they won't do anything anything by the end of the year are you and that can -- can they get it done by December 31.
-- they can get it dining and I hope after all the negative effects of its coming up so close to the -- the mood in a little over a year ago.
That people will realize that the stakes are much much bigger than partisan politics -- -- and and I -- and and didn't -- please give us over this with some sort of a deal so we can really get on I think in the spring with the issue of how do you really fix this problem over the long run we've got to do it to -- There's never been a better time right now.
Great to see you.
Governor Phil Brothers and former governor from the -- bunds stay tendency.
Part of all this stuff fiscal cliff talk ahead but.
