Fox News
Expand
Browse All Video
Watch Live

You're watching...

President calling for $1.6T in tax hikes

Details

  • Description

    California Congresswoman Karen Bass weighs in

  • Duration 5:48
  • Date

Clips

Also in this playlist...

Powerful Politics

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Anyway the next guests here -- are backing the president's call.

-- of one point six trillion dollar tax hike to democratic congresswoman from California Karen bass congresswoman good to have you back -- don't.

Thank you I'm doing fine good to be back I I take it from the president's remarks today congresswoman.

Is that it's got to be a rate hike on the rich that it did it deductions and playing around with credits and and tax breaks won't cut it.

Tonight interpret that correctly.

No I do think that you interpreted incorrectly but it'll be interesting to see exactly what the details are and I'll look forward to that.

But you know in terms of the CEOs that are meeting with the president right now I'm really curious to see what they say as well.

But I do think there have been indications from many sectors of the business community.

Including the chamber of commerce that they want to see a deal and everybody's been saying that people do seed in the.

You have a chamber of -- imagine you know Tom Donahue were showing there this is the prior time he was able to go away Nazis across the street hot isn't he was an invited.

And I wasn't no I do -- that's interesting I just shot a lot president.

Look this guy yeah I'm not thin skinned about these things but congressman here's what I wanna now it is certainly seemed to get -- It and -- in it and in key congressional caucuses progressive caucuses and the like are urging the president.

Not to give an -- on this rate hike for the rich are you among those urging the president don't -- on this.

We still don't forgive you for what you did two years ago when you extended them.

What's the deal.

Well minus the part of not forgiving him from two years ago but I think that it's absolutely essential.

That we allow -- for tax cuts to continue.

For 98%.

Of Americans but for people who -- above 250000.

Dollars I didn't.

And he understands us yeah whether or we -- quibble -- that as you and I have your best but then what do Republicans get in return was I don't hear much violence hearing about.

Slowing spending or reigning -- Well no no no I do believe then and that the president supports a balanced approach and so much.

I mean there have already been very severe cuts that have been implemented over the last couple of years and this other places that we can cut.

I also think when it comes to some of the entitlement.

Programs say severe winds up congresswoman -- you tell us they're not -- -- we're looking at a fifty general likely have a trillion dollar plus.

Deficit we're we're we're we may -- may -- the cuts would it would've -- would have been more dramatic or or the growth would have been more dramatic without them but the fact of the matter is.

We're piling -- sixteen point two trillion in debt right now and and that's gone on -- Right but but you know what I was gonna say about the entitlement programs both you know Medicaid as well as Medicare.

There's ways to find savings in both of those programs.

Without fundamentally changing them and sold that they want -- you would I frenetic here green I think you would dramatically or would you raise its would you rate well.

No one thing that I would do for Medicare would be I would look at the prescription drug.

The the cost of prescription drugs and look for a way to negotiate a smaller amount but the other thing that I think is really big -- Medicare.

And it -- at least once a year one of the news magazines -- reports about.

Fraud in Medicare where people set up these dummy corporations.

And get medical equipment.

But you know what troubles real numbers -- dollars these are good points but what troubles me about.

Not a wall but some Democrats as they'd they'd -- -- -- said.

We want you to get some ground on these tax hikes but for the rich.

Yes but when it comes -- what are you gonna do well -- I don't want to waste fraud and abuse something you'll always criticize you know President Bush when he was.

The -- that problematic and that he's a man be handy alternatives when in the scheme of things to address the bulk of these programs.

We have to -- -- they wrote -- -- raising retirement age is by scaling back benefits adjusting.

How they're rolled out for generations I don't know with the.

No no I do think that that we should look at the programs but what I gave you specifically was not -- family I mean it is bill that was made Bambi the wind is yes that was -- nominal nominal you know.

I gave you the specific example.

Of the fraud that takes place every year in Medicare and her people set up these dummy corporations.

And it is billions of dollars a fraud that we need to crack down on harder.

And that's just one example and so I think when the president says that everything needs to be on the table it does.

But I don't think.

You really think everything is on the table it is -- let me up my suspicions.

That everything is -- on the table it's just sockets and the reds and me I'll name you will get around to -- No no no no I really don't believe that I mean I think the president has put forward and I think congress has put forward on the Democrats and obviously the Republican side.

Really painful cuts have already been put in the place and I think people are willing the -- -- we -- a -- congress and the president's already you're referring to.

The trailer that was already factored in would -- already done and an already budgeted for being done right and at its fort trillion over ten years fort trillion all of the growth of government over ten years or ten years from now.

We would still have six trillion dollars more of government than we do now well -- and that is dramatic that's a big cut.

Yeah no it does and I do think -- -- things can be done you know what I tell what congress I'll tell -- what.

Like what had gained fifteen pounds but so far this year I'm -- -- ten.

And net net.

I see well I do believe that there's a new tone that's being -- right now postelection.

And so I'm optimistic that will be able to solve this problem before the end of the year I hope you're right congresswoman we shall see very good -- again thank you.

I think you.

Load More