Cavuto: Be careful what you wish for
You just might get it
- Duration 2:59
- Date Nov 26, 2012
You just might get it
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What we care what you wish for Republicans you just might get it you've been so insistent that tax rates on the well -- not be raised.
You're about to settle for a deal that likely raises them even more.
That's because all of what you are offering in return.
A limit on deductions and special breaks that I think will raise taxes farm ordered it simply reverting to Clinton error rates here's one.
Let's say you limit wealthier taxpayers right Austin no more than 50000 dollars on hearing that figure -- fifty grand that will be it.
But not the potentially hundreds of thousands of dollars richer filers have been -- for years now.
You don't have to be a 250 -- coupled to see where this grand -- is going for the rich are nowhere fast at a minimum.
They're effective tax rate jumps well -- on the old topped with a rate of 39 point 6% my guys limiting deductions to that degree could easily Jack it up to.
And I'm not even including new taxes like that.
Three point 8% surtax that top racketeers will be working over on their investments to -- the new health care -- to say nothing.
-- much higher capital gains and dividend rates awaiting them.
Back of the napkin math on my part a top federal -- that easily climbs to 55%.
And when you throw in higher state taxes in many cities and states.
Promising billionaire tax hikes that curiously affect not -- millionaires.
That brings us to 60%.
That -- -- points higher than the top rate now fifteen points.
Isn't speech to -- -- up each and every tax regular talked about.
It's very logical.
And all courtesy of Republican strategy hell bent on ignoring map for fear of getting it on rates so -- -- very honorable quest I guess to keep rates where they are.
Republicans -- being snookered by Democrats -- know they've got their opponents number.
So blinded in their grand old quest to keep rates from moving up the grand old party doesn't he did see the other side is just.
Taken to the cleaners.
We're going to be demanding that.
A lot more tonight at 8 PM on Fox Business -- I know -- -- is that are even watch.
The factor on but you know he repeats like 78 times so you can still watch him.
And watch me.
I I think I'm a very nice -- That's how I look at unappetizing.
That -- unity some online shopping.
I would be a good -- And and -- knows a thing about cyber -- tee and demanded.
No I hire you.
Not Dooling has been working on this hour I was not and you were shot that I was not know I guess you -- does not doing anything just you don't worry that spaghetti look at what is now.
That's elected that's a lot -- -- it's not not as cynical it's not it's it's Estes gets.
What it's and its its website where you want -- I want to do it yet it really demand Fox Business that Victoria's Secret dot com yeah really.
I wasn't doing anything that is today's government.
If I wanted it commanded the -- ago -- well.