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Pat Buchanan on the quest for cooperation between Obama, Democrats and Republicans in Congress and how politics may still prevail after president's re...
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Well I didn't take long talk of compromise post election -- turning into stalemate -- Obama and speaker that John Boehner both not -- as we rapidly approach the fiscal cliff.
Only thirteen.
It should be -- -- would begin to solve our debt through cash reform entitlement reform and I'm -- in -- -- of fiscal cliff.
Together in a manner that insurers of when he thirteen this finally be here that our government comes to grips with the major problems we face.
-- -- We found out that the majority of Americans agree what my approach and that includes Democrats in the -- and while Republicans across the country as well as an independent economists.
And budget experts.
That's hard to reduce the deficit and balance the -- The four years of the Obama administration on the economic policies they're clearly anti business there anti entrepreneur or they are.
Anti job creation.
Speaker Boehner and others have talked about.
Saying -- -- and you can be on the team.
I think that is designed to -- president appreciates that recognizes that we need to compromise here that we need to come together and -- you think about -- I want to be clear I'm not wedded to every detail of my plan.
I'm open to compromise.
I'm open to new ideas.
Committed to solving our fiscal -- I refuse to accept any approach that isn't balanced.
Course everything Washington does doesn't solve the problem.
All Washington does.
Is exacerbated problems they create a problem they then say they're the only ones to fix -- -- -- and fix the problem gets bigger this is an opportunity for the president to -- This is his moment to engage the congress will work solution -- campus folks can.
I think we both underground.
That are trying to find a way to work but the fiscal -- is important program.
Thanks once again former senior advisor to President Reagan Pat Buchanan pat it's you know it's really too bad that this is so serious for so many American section for the whole country.
Because it's a fascinating you know watched.
The politicians try and work this -- Right well this is so this is James Dean in -- and rebel without a cause from the tumor headed for the -- -- stolen cars.
And the first one that jumps that is the chicken and the other -- went over the cliff.
But I do I think they're gonna get a deal -- I tell -- what I think that I have -- tomorrow.
Boehner cannot go home to -- people having raise tax rates.
I think Boehner and Mitch McConnell will say no increase the tax rates.
35% as it and I think the president who -- on that point.
And I think Boehner and McConnell will then accept the idea of cutting colleague -- capping.
-- deductions each individual and higher brackets can take you know set top limit on the amount of deductions they can take.
And that will increase -- revenue flow into the federal government with the same time the -- two congressmen two Republicans preserve the rich argument and I can make older folks happy but I think that's the deal was going to be in the works.
-- couple problems stop number one is.
The fact that they didn't today at least I have my stunned when they have with the exception of senator Tom Coburn I very rarely hear -- talking about the tremendous amount of waste and fraud in the federal government means it.
Mean we will let's put up this example a guy and the fact that with the wind -- which is just a tiny tiny -- But it's represent a sort of the mentality here on Capitol Hill -- any other people's money noise to trust me the -- the second thing is is that.
They're not gonna raise the tax rates but when you when you do -- up put caps on deductions -- who -- raising the effective rate.
Anna Sega I mean that I guess they get a -- that we ask I don't.
That's fine but it's like don't tell me they not raising that tax rates when you do that what they're right now raising taxes.
They're they're raising tax revenues but the -- rates would stay the same the deductions would simply go I think it's more than just sabbatical -- Mitt Romney's -- and what do you.
20% he gave to charity.
If you -- -- deductions say 10% of income.
Lot of our charitable deductions would not be taxable -- he would pay how much higher tax rate or that I have paid a -- Miami actual rate you're right get actual rate would go -- I have the name and maybe some people be discouraged job.
To -- cutting the deductions I would I would hope that for people for that the mortgage and tax deduction is so hard for so many Americans.
I would assume that this -- it the way you're scheme that you suggested and is would be realized -- with the well.
People want a real -- were drove the fast.
-- -- people in the housing industry restaurant because a mortgage and mortgage interest deduction.
Is a real incentive to -- houses and by rental properties and those that those savings though Brett Olson a lot lot of us old folks there were about.
Who have paid off our mortgages didn't affect us at all.
But you know other people young people who got higher mortgages that I don't like them it would really affect them but then again you if you did that for example -- interest rate deduction.
Suppose you cannot get it 24000.
Dollars per person per year there was -- -- -- 2000 a month or something like that.
And they -- that take care of all your middle class homeowners.
Could you take -- folks nursery for five million dollar houses.
Who moved leverage them and they would really get hammered.
I like -- some -- -- because you know what it did was -- -- I like the people who are on the committee of both sides of the out.
They worked really hard and it didn't make everybody happy but it seemed like death at least -- it was big it was at least doing something to make and making.
Think you're right I think the real problems could come in the piece you mentioned earlier that suspending its but the Democratic Party what is your visions for what -- -- believe yeah.
It's hole which pride and -- Social Security Medicare Medicaid head start food stamps school lunches.
-- school loans all these programs -- democratic programs you're right.
Are those Cadillac Harry Reid and those folks come abortion and I'm gonna start cutting and chopping can be -- -- all which is the holes that whole area.
Republicans are gonna want any cuts in defense.
So are they gonna get that piece of it done and that's where I have my real doubts and the second one is.
Look even if you give you as you indicated -- taxes taken out of people's incomes at the beginning of the year they go along with a deal like that.
What should you do an economy.
Which is moving along at one and a half or 2% I mean even change nobody suggest you raise taxes.
When the economy is chugging along at one or 2%.
What is the philosophy behind this that -- sort of neo Marxist ideology no let's go after those rich guys and really hammer.
Hey I can't say critics -- for.
