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Tax hikes at the center of 'fiscal cliff' talks

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    Sen. Orrin Hatch speaks out against raising rates on top earners

  • Duration 4:22
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The clock is ticking as congress debates tax hiking -- if there is still no fiscal cliff deal well into December.

Will Republicans still stick to their guns when it comes to those hikes on the wealthy.

Two Republican senator from -- -- Orrin hatch mister senator well for the program good to -- against.

Or nice spirited Stewart are parishioners don't want to offend you so but here's what I think it's gonna happen.

Come the end of December if there's no deal.

President Obama is gonna say hey you Republicans.

You're gonna send a markup over the cliff into recession just because you're defending your rich million that Powell's back off.

And use I suspect will -- Well I don't think so the fact of the matter is is that neither side should allow this to happen but it's gonna take good presidential leadership.

If it doesn't happen it's gonna be because of the lack of presidential leadership because -- congress itself just can't do -- has to be done.

He won't be -- luncheon that.

He he won the election.

The Democrats increase that size in the in the in the senate.

And the president did indeed campaign on raising tax rates on the rich.

When push comes to shove you think you could avoid doing that you can think you could head him -- and negotiate away from tax hikes on the rich.

Well we hope so because none of it's -- four rate increases we are for.

Finding enough revenue to satisfy the president in the code itself and I think that's -- that's something we can do.

But to raise some rates wouldn't hit.

A million small -- the system -- about 700000 jobs we believe it is not the right thing to do and it could throw us into it.

-- the recession if we you know if we don't want to we're doing plus everybody knows unless -- do something about the entitlement programs that's where the real problems are.

We're not going to be able to solve these problems and the Democrats know event but there and they just seem to be unwilling to do anything in that area that.

They know has to be done what would you tell us what would you do -- -- them programs how would you cup.

Well first of all we know that we're going to have to.

Results of securities eighteen trillion dollars in unfunded liability it's the easiest of the things to fix we can fix that.

There were concerns and send it would raise already -- -- do you.

You know you have to raise retirement -- have to do a few other things -- and including including.

Use a better system so that.

Those on the top level did not rise as fast as those on the bottom level and I think almost any Democrats in agreement that.

With regard to Medicaid and Medicare.

We know they're both in terrible trouble Medicare's almost forty trillion dollars in unfunded liability as we as we -- talking Medicaid is almost that bad.

And and the states have a heck of -- time meeting Medicaid payments what does the president think bush just like ten million more people under Medicaid rolls.

Throughout the country in the states are up in arms about it and don't know what to do about it then of course the presence -- they'll pay for for the next three years from the federal government but with more -- we're broke.

And say -- -- problems that really Democrats and Republicans and the president.

Should come together and you cannot solve these problems without it without really strong presidential leadership.

So if I return to the issue of raising tax rates on the rich all you dead set against doing it.

Yes we are not tell you why because there are a million small Minnesota circular pretty close to a million small businesses.

There would be drastically hit.

And not only -- that.

You're talking almost a million jobs really from somewhere over 700000 jobs that would be lost if we did that that you missed the blame for a recession the president would -- look what you did.

You would you protect you get million net -- and -- now would -- -- recession it's your fault.

It's a -- which wait just a second we know that that we know that before we're gonna get anything accomplished here we're going to have to.

Reduce spending.

And our problems Republicans as you they always have the Democrats -- -- -- increase rates.

On the promise that they'll cut spending in the spending cuts never -- the rates go up and they keep spending.

And we get -- even deeper in debt -- look I'm saying without presidential leadership this cannot be done with presidential leadership that can.

And I think Republicans would work with the president to get it done if you if you if these dynamic enough and really wants to do -- I can really corral his people an inside.

And get them to work with us -- -- on hatch Republican you -- always a pleasure thanks for joining us up.

Nice to be with -- -- thank -- -- -- -- --

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