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Around it if congress can't get its act together on the fiscal -- taxes for the vast majority of Americans.
Will go -- according to the tax policy center at 90%.
-- how souls in this country will pay higher taxes next year.
If the US goes off that -- talk about automatic tax increases and spending cuts with low income families -- among the hardest hit.
Kraft Charlie Rangel congressman from New York here -- famous Democrat and he's here in studio with us to talk about all this and I assume that means we have to get a deal done.
We have to we have -- it would be irresponsible to congress that move forward you.
You expects adequately what happens in terms it increases in taxes which most people don't know.
That the great that they getting miners that may be is temporary and expires December 31 that's it do nothing in the rates that automatically go up but what about -- severe cuts that we will have been the budget this is a nightmare that we created that should never happen.
And now it's on the brink of happening is that in my opinion is -- going to happen no because.
We have the option to do something justice irresponsible that is kick the whole thing -- off to next year and believe me they could be countries face and set it.
Imminent crisis nobody even if it means if they broke or short term -- it goes for six months.
What about the hope of overall tax reform its economy isn't that bad our if you get a short term deal and -- six months.
And -- do something more sweeping and permanent.
I I I don't want to even talk about a six months they would get businesspeople have to make planes we got middle class people let -- wanna send the kids that college.
We get doctors and people that need medical services they can't afford to have -- cut.
We've got a plan for tomorrow for business people less by the ten year old when you say exactly -- in for something like what speaker Boehner has been talking about broadening the base -- -- lowering the rates mean that's what they -- on the you can say they have but they know and nine know and the president knows the money's not the so.
What is so magic about saying that we got to increase the rates for the top 2% I don't know.
Antibody -- a -- with these people put something in the water but it does it make sense if you say and agree that 98%.
Of American taxpayer is entitled not to have their taxes increase they want to hold Britons say.
Yes but the top 2% they -- keep a low rate as well I -- and they willing to raise money by close loopholes that money is not the.
But when we talk about broadening the base that would mean more people in this country potentially will pay at least something and I want to pose this question to you.
We have almost half of Americans.
Pay no federal income tax that's in com it's federal no net.
But as a veteran.
Of the Korean War that means that almost -- this country does not pay.
Not a damn not a nickel not a penny for our military I guess -- people sacrificing their -- do are you comfortable with that.
I'm here to bring some balance that the fit in this.
I'm very glad they made it abundantly clear -- pay a little bit at least five a M on -- is Mary -- that the crisis that exists that we.
Have given incentives so that people would not go into poverty and they continue to work.
One out of every five kids born in the United States of America is born into poverty and it cannot say that they don't pay taxes they buy milk they buy clothes they do it.
They don't find that military congress it doesn't Italy the so I'm not talking I was everywhere they go -- -- talking about the working more on talking about.
The people even on the bush tax cuts who no longer pay don't know -- contact.
Talking about funding the military who do you think this fighting these war is not -- elite.
It's not the rich and it's not even the middle class.
-- that's my question I'm talking about the people -- -- who have jobs who had and comp but because they.
Right let's sacrifice.
They should be more sacrifice but I don't think you should -- that out.
Because we have a lot of jobs that's involved then that.
And unemployment would just saw you what you would include a public I didn't see my question I do see it and I'm telling -- this is one more law that America's not sacrifices just our young people that's being placed than in harm's way -- did I say war.
I shouldn't have it never has been the -- and bullets and that this right now and so on the issue taxes the Republicans have said.
Revenues on the table right.
Big deal all right but they've they've -- it -- it was a little bit about closing loopholes they're talking about right preferential treatment -- get the to let it -- anyway -- something that the Democrats submitted to hold -- that is all on the on the table on that side because it takes two to tango in terms of making a deal with something the Democrats is it cuts to entitlements.
You willing to -- Oracle doesn't.
-- -- -- and I think it's just saying that it it takes two to -- especially if one is not even talking.
I would say okay will put revenue on the table right and you raise the money through revenue mathematically.
It -- not be done.
Right so we wanted to say just -- -- purposes of having them.
Can't fulfill that commitment to -- all of these people that make these promises still we can do it.
But but what is this.
That makes it up seeing.
To talk about just that this small increase.
200 something -- -- -- -- on the table -- -- you'd also vote for deal that -- that plus some cuts to entitlements sizable cuts.
While you keep it's how you do things you just -- talk about cutting you know everybody want to look up but they don't want your grandmother south he would cut.
They don't want their cousin that that's getting a tax exemption for the mortgage cut doesn't know the fiscally.
None none no it has to be negotiated and we have to find out one thing -- you very this -- -- -- -- ox is being goal at everyone wants everyone to be -- and to get but they don't want to get.
And that the problem that Republicans have is that.
They made a commitment to a very small part of being applied right and if they don't please them they out of business in the House of Representatives.
Will have to -- -- we -- -- -- we'll have you back for this about collective have a direct Thanksgiving at -- -- after Thanksgiving it's always great conversation congressman congressman balance yeah.
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