Will GOP break anti-tax pledge to avoid 'fiscal cliff'?
Sen. Jim Inhofe weighs in
- Duration 4:21
- Date Nov 27, 2012
Sen. Jim Inhofe weighs in
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-- -- as we approach that fiscal cliff economists say.
The automatic -- tax hikes and spending cuts -- plunge the country into another recession.
Tax increases on wealthy Americans -- the big sticking point it seems.
Because of an anti tax pledge they Republicans have signed but should those same Republicans back off the pledge.
And make a deal and what -- would do what do Democrats have to do to -- this.
Oklahoma senator Jim in hot.
-- lives with his thoughts are right senator I should Republicans back away from the pledge.
No -- I don't think so you know if you do that you're assuming that there's no other way to do this -- there's many other ways to get this done.
-- you know I actually introduced to build long before the election.
-- that covers the way to come up with the amount of money not one week nutrient that two point seven period.
And increase spending in in the military it's you know two cents but risks of these things like Medicare in the food stamp program back to the states.
Have medical medical malpractice reform.
Stricter federal workforce by attrition I've got to bill and it's there and what he could look -- -- because it's senate bill 3473.
This solves the problem.
And we have other ways to do -- whatever happened to the old Democrats remember it was.
Kennedy way back in the sixties this and we've got to raise more money.
And more revenue for the great society programs and the best way to increase revenue is to reduce marginal rates he did it in what happened.
He he increased the amount of money they came from margin rates of 94000000253.
Billion then along came Reagan the same thing.
That -- the total amount of money raised by marginal rates in 1980 was 244 billion.
At the end of that decade it is 466 billion that was during the decade the real streamlining.
That taxes and tax reductions so.
That's the way we can grow it for every 1% increase in the economic activity that produces forty billion dollars in new revenue.
We've got to get that through their heads and it again that wasn't a Republican notion that was a Democrat.
-- senator would you do you I know you are gonna get everything you want and Democrats theoretically are gonna get everything they want.
So -- -- you have to see in the other side for you to give it all in any of these things what what movement has to be made.
I'd I'd like to see and try some different things first of all let's recognize the -- That we have the deficits right now as a result Obama's budget just five point three trillion that's in his ability he signed that.
We have a lot of the programs that should be and then -- -- -- we give the example.
We had a Democrat president back in the -- Bill Clinton while we had a Republican majority in the house and the senate.
We did welfare reform -- put to the of that work back into welfare -- it was tremendously success.
Actually decrease -- well for rose from five million to three million now Obama's reversed it.
Right now we have that it's gone -- -- the food stamp program right now tuna from 28 may me and favorites to 47.
That is one of the things can be reversed.
They got us into this mess to start with I gotta have to try anything.
Senator why does it appear.
And obviously the -- results of it why does it appear that President Obama wins the PR campaign on this entire discussion.
Well Gretchen I represent Oklahoma he hasn't wanted to hear.
He's winning it across the country.
But I know he's a very persuasive person that doesn't mean that as a member the United States senate.
The you have to look at public opinion say well he's gonna win this thing again I've got twenty kids and grandkids are depending on need to.
What do Republicans need to do -- to get a better PR message out there to come back I mean when when you look at the math and what you're talking about it makes a lot of sense it's.
-- why you -- it's not out there.
I don't know I've made were not -- we're not as persuasive as Obama is perhaps but in this case you know solution let people -- that's what I'm doing right now.
And -- there are other alternatives this obsession with the president heads.
For -- prices is simply that we beach got to get around him and Republicans are gonna turn into Democrats we don't.
-- senator thanks so much we'll look forward to next few days to see there's going to be any movement nothing's gonna be a given this for years than the last four years.
Senator -- and not let me very much from Washington meanwhile.