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Rep. Bobby Scott, (R-Va.), on the debate over tax hikes versus ways to reduce spending in an effort to avoid the fiscal cliff.
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Well just because -- made a result of the hiking taxes on billionaires -- not -- -- the Democrats are going.
To return the negotiating favor by hiking the retirement age anytime soon for those getting Medicare members of the Congressional Black Caucus.
Already on record mixing -- to be eligibility age to 67.
From 65 now many other prominent Democrats agree hands of Medicare.
And Medicaid the Virginia democratic congressman -- -- one of them so congressmen.
And even twenty years out for people who at 35 now 45 now I don't raise the -- Well -- first question is whether you -- cut Medicare in order to extend the tax cuts.
The fact is that if you if you let all of the tax cuts expire.
You have a trillion and a half over ten years more than the Simpson Bowles goal of four trillion dollars.
So the threshold question is whether or not.
You wanna cut.
Taxes and pay for them with cuts in Medicare.
Once you decide you wanna cut Medicare in order to -- for up to pay for the tax cuts then you can get and how you gonna do it you can raise the age you can.
So -- -- so -- alright John there is offering hiking taxes on the rich he's saying millionaires the he might go down whatever the -- as you would be open -- he kids in on that issue.
You would be open today and -- As another negotiating.
Return.
Addressing -- the Medicare eligibility age down the -- I think you ought to start off with whether or not you're gonna pay for all -- and he -- -- let's talk about all of the tax cuts not just over many and I just over 250.
All of them if you let them expire you don't have to cut any thing -- -- -- wasn't relying all the rates expire.
And yes.
In the ensemble from him.
It was more things on the probably got a trillion and a half more on the table now if you wanna extend them technology doesn't really -- -- Medicare dollars and more than a few years.
It's twelve years now and if you wanna cut Medicare you ought to keep the money in Medicare to expand Medicare not to pay for tax cuts.
But it sounds and what you're saying congress that is you would be very open -- letting all the tax rates go back to.
Pre bush cutting levels and others -- levels everyone's taxes go up.
It in order to not charts.
Anything on entitlements and the -- that that that that's the source you're gonna make you -- you -- -- -- -- a lot wanted to don't want and they rank.
What what did a lot of the choice we're gonna have to destroy us we are making -- -- now that's -- -- -- just an invite you regulate it.
Right right well I mean the you have to make a choice now if you extend the tax cuts it is almost mathematically required that you also cut Medicare to pay for.
Naturally you don't wanna cutting we can -- -- what does that do all tax -- Well you can you can pay for but it has to -- you have to pay -- some kind of way and you talk and arithmetic.
-- -- understand what you anywhere today with -- all the taxes going to -- are I mean you're gonna have to address the fact the government spending is exceeding.
The money that is taking we're taking in tax -- -- -- it might -- divided might now they got a little bit.
But -- still that address spending what are you doing on the on the spending side.
Well you -- we've already cut a trillion and half of the non defense discretionary is in the lowest point it's -- as a percent of GDP in the last fifty years.
So -- party made significant cuts there we're already cut 716.
Billion dollars people say you know cut Medicare.
And they must not -- been watching television on the last.
Presidential campaign to -- got 716.
Billion dollars today and -- a unit for something much more expensive without fuel alone right so it's not I'll -- you just.
-- -- -- -- Well you do a lot of it went back to Medicare and the you can get three 33 -- check ups and cancer screenings without considering anything you would not -- -- -- anybody doing anything you know I think we're closing we're closing the 716 billion dollars we cut it we're closing didn't you what I'm just desserts that was his style that was a swap the healthcare law right.
How well they're all swaps if you cut Medicare now the swap will be you're gonna tax cut.
When I go visit you get your dog not God's -- we get your way it's unlikely all the rates go up everyone pays more taxes on this delegate math -- -- very go to there's math.
-- in favor of sustaining the government and the way it's growing now.
And so something would have to give decides what you say has been -- in the past what was Medicare savings or or factory in wars that are already.
Being winded down I -- something would have to give -- and its use what.
To the extent that Medicare needs adjustments -- -- the Medicare adjustments and you save the money.
Dupers do for two sustain Medicare Social Security is behind the curve we need to make adjustments and Medicare either.
Raise the taxes or reduce the benefits and there are lot of ways to reduce benefits.
But keep the money in Social Security so your sense of security.
My problem is cutting social security and Medicare in order to preserve the tax -- if you extend the.
-- -- -- -- -- -- -- -- -- You didn't go ahead and raise all the rates as US and I appreciate your clarity about it you might disagree but you're very to the point on it does raise all the rates.
That that alone is it gonna do it either that you got a -- to -- -- -- -- some adjustments.
It puts a trillion and a half more on the table -- you need is a trillion and a half better than Simpson Bowles.
I do -- -- and a half what we have to save realistically.
At least eight trillion over ten years is like some children.
Well -- -- involves had a goal of four trillion deficit reduction if you -- -- voted down a trillion and half cuts.
And letting them all expire gives you four that's that that's I'm not -- not unprecedented -- gonna get worse bottom line hello Florida -- a -- that's a trillion and half of better than what anybody is talking now.
All built on hikes tax -- Robin you well then then.
Make that list the reason nobody is making a list of what you have to cut is when you look at the list of things you have to actually cut.
Social Security Medicare education less than they cut they cut embassy security.
Transportation and everything else you make a list of what you have to cut in order to extend the tax cuts and then we can make a choice do we want to make these cuts.
In order to preserve the tax cuts or -- those cuts I'd rather not have a tax cut their risk be honest with the people what I suspect we're gonna do.
Pass the tax cuts first.
And then come back make all the star in cuts and never put a path to remove that that was good.
I don't I don't think you need to worry about them doing any reckless spending cuts I really don't congress and you can.
Allay your soul products arithmetic and -- -- what what is reckless is well that your colleagues on every student and I ten.
You have a general -- -- do about day day don't they don't they're pathetic but we'll see what happens I believe least it clear you want my taxes a lot for a lot of votes but.
Great party congress with -- the revenue and trying to make choices let's make the choices.
Now part of it is hard choices -- Not doing what else talked sort of doing deficit reduction at all unpopular you know it's -- -- -- Me about it's alright Thomas thank you -- very much.
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