Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Fiscal Cliff Talks Focusing Too Much on Taxes?

Details

  • Description

    Americans for Tax Reform President Grover Norquist on the fiscal cliff negotiations.

  • Duration 5:52
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Well turns out that John Boehner is for hiking taxes on the rich is not the same rich folks the president's talking about.

In a private meeting of the White House today reports are that mr.

banners -- that he's open.

To zapping a -- million and over crowd.

Is secure a deal with the president wants to go after the 250.

Grand and over crowd to grow over who's been figured out.

I'm talking about Americans -- tax reform president.

Grover Norquist and the -- we're getting this from a variety of different sources to debts to deal.

He has offered the president on taxes would -- what do you think it.

Well -- the other reason I've been advocating for quite some time that Boehner.

Should insist that C span cameras and Fox Business cameras should be in the negotiating room.

It so that.

When he put something on the table in return for something else the conversation doesn't -- with his concession.

What we don't know is that what exactly the various moving parts of this.

Deal are.

I think it's wise of the Obama administration to take any movement on taxes and competent while.

Not moving at all on spending I'm not sure this is wise negotiated for.

We don't we don't know from the -- is not we're told that he wanted to things he is open do.

Is addressing entitlements but to your point maybe your -- Just -- -- promised to address them eventually.

We have now talked about -- longer do that won't do it right.

Four years the president has done nothing on entitlements other than make them worse and -- and with Obama -- With a trillion dollars of tax increases attached to it over the next decade one point two trillion.

So there's still is dead in your -- speaker Boehner ever entertains would you go after them.

It for -- there's there's no deal there's 88.

Conversation that there how things we don't know what the moving parts are I think there's a very real question as to whether the president.

Wants to DL or whether he'd rather go over the fiscal -- it looks to me as -- Boehner showing how terribly reasonable he has.

But every -- but one of these on the table the president said heck no.

To this idea of taxing people who make more than a million dollars you want to hit people make.

200000 dollars and and up.

So so what -- the president goes with the million and over -- still argue.

Go after spending and they're not doing.

Yes the only reason you raise taxes is to avoid reducing spending.

Every dollar in tax increase it displaces a dollar spending restraint.

Since the problem is spending too much.

Tax increases are part of the problem not part of the solution they crowd out spending cuts now.

There are two other bites -- the apple that the Republicans and Boehner have that debt ceiling increase and the continuing resolutions that have to be voted on.

Because the Democrats in the senate don't pass budgets anymore everything is done by -- are continuing resolution.

The blow up what it is hard to.

-- -- much sort of -- this stuff but as I see it the only thing really being moved here as far as pieces on the chess board.

On the size of those tax hikes -- who -- will affect.

So now it's gone up presumably from the Republican negotiating point for the June 5 2000 and overcrowded the million and over ground and that might make it more probable -- some Republicans.

Whatever they do agree on the flip side of that -- -- -- spending or not.

-- -- -- any Republican who raises taxes.

To breaking a pledge.

And and a target in two years.

Again I think you have to look at one the whole package and also whatever the deal is this time it's a temporary deal because we're gonna be going back.

Both -- that the that the Republicans have very little leverage in this negotiation.

They have a lot of leverage on debt ceiling and a lot of leverage on the continuing resolution.

There are plays that we can make to keep taxes low and to restore tax reductions.

In the subsequent negotiations they've been talking originally about doing rate reduction not rate increases -- rate reduction is part of tax reform.

Driven by the power of the continuing resolution and the debt ceiling.

But -- and -- itself raising taxes right are raising rates right now.

On it is in.

A scarlet letter on -- wonders does -- right now -- his.

-- -- well it again it it really depends on what the broader issue is this is a piece of the puzzle it's not the agreement.

It's it's the first part were frankly the Republicans have the least leverage at all.

I think the Republicans should push for what they got two years ago from the same President Obama.

Which was an extension of all of the tax cut and I don't know across the board do you really -- -- they're gonna him.

-- do one of the reasons were not doing as well.

Is that the American people aren't there to see.

These negotiations.

On C span.

-- the president's original budget cut was a trillion dollars in savings by not occupying Iraq and Afghanistan for a decade.

Two countries through sort of kicked out out so it's not exactly a budget cut on his part but he was trying to get people to agree that was going to be his contribution to a deal.

If that was on C span people would laugh about it this town.

Instead the New York Times.

Quotes every Republican.

Offer on taxes as a concession.

That hasn't actually happened yet nobody voted for that right and I think there's a very real danger of us spending too much time talking about.

Things in a negotiation.

Which is why they should all be on TV.

It's the ones not seated was not so we have to go to science and but I think the -- -- fairly I think we're gonna happen and that we're gonna happen we'll watch outlook will say all right -- thank you.

Very much thank --

Load More