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Dobbs' plan to save the economy

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    Lou Dobbs explains his proposal for the fiscal cliff talks

  • Duration 4:48
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This transcript is automatically generated

Now the top story tonight reaction here now fox is -- -- so what did stops planned.

To solve this mess finally somebody asked me and I appreciate that bill that here -- let's go straight to it.

Right now there are no rules in this game between Obama and Boehner.

And until two sides in a negotiation agree to the parameters and the purpose of the negotiation.

It's just blather is just media noise.

And I would suggest and the first part of that plan is to set the parameters that means okay the top 2% of the country are paying just about.

40% of the taxes in this country what percent does the president walked.

Boehner needs to stand up and say everything is on the table.

Taxes.

Entitlements you name it.

So delighted to -- you would begin with the tax situation all right C I would begin with the spending but you're smarter than me.

All right so so you say to mr.

Obama all right we're willing to compromise here it's reasonable.

Right how much more do you want.

To squeeze out of the -- 2% and he says probably.

Not wanna go back to with the -- Clinton had 39 point five and -- wanna raise capital gains to 25% market.

Do you Lou Dobbs given that.

If he said if if there's something else and -- -- I certainly would not give him that without.

Conditions would you would think about it our -- -- so let's go right to the dobbs play and says.

That reasonable.

Reasonable what it has -- That a little bit.

Tax hike on the wealthy and it would be a little bit -- a lot.

About what is it estimated to be about something like 95 true apparently the -- two billion dollar a year -- -- per year yet okay.

But that's still not.

All right so but then to get those tax hikes what is Lou Dobbs want as for spending cuts -- In our first blog would negotiate in the media be the first rule that I would suggest that but -- we are militants -- you have to do we are going to violate our rules violating.

The first thing I would do is say that the condition preceding to all of this is I want to know first you've been campaigning Mr.

President.

For literally five years about what's fair.

I want to know what the percentages.

That you think the top.

20% in this country should be paying in taxes.

And then we'll make our adjustments all right but -- you're gonna have to get Barack Obama to actually commit to cutting some programs who just wanted to -- -- -- anything.

Of course it is wanna cut the snail garner he doesn't want cut the mushroom exploration and that's why -- you why do you think this is a great opportunity for John Boehner.

To put forward the Boehner plan.

Not the dobbs -- -- Boehner plan to specifically say this is what we have -- god here's what we have to do we have to raise the retirement age in this country.

We are sorry you're all right regular happily -- raise the retirement age for Medicare.

And we have to get serious as they did in 1993.

Under a democratic president President Bill Clinton and say this is a target 500 billion dollars a year.

In reduced deficit.

And we're gonna get there with 500 billion a year you would reduce absolute -- I don't know I do -- trillion well you can't quite get there.

But I think you can notify -- what if -- sold Rhode Island.

-- I can cancel it brought yeah well the Chinese would buy it announced changes are going to be governor when you -- What do we care you why do we care he's solid pitcher he -- he's damage goes after you took care of -- that.

-- try it for a trillion dollars -- -- GT cut.

To cut the dead every year not the deficit.

The debt I'm trying to I'm trying to get enough money in here.

So that we can go from sixteen to fifteen -- fourteen you -- we get rid of a trillion dollars very quickly by taking a half trillion a year.

We we believe that -- what you just said it's how you get rid of it.

You raise -- retirement rate for Social Security for a couple of years Medicare well for a couple of and not for people who would say over 45 it's under 45 people you have to do it or maybe 48.

But the people who bought into this security you're you're already into the details and hurt and we're losing the programmers -- -- and edit and then as he -- -- I know that's that's terrific.

But until we get and we have to make one more rule and that's what's that you go to the table Mr.

President and speaker banner yet and you have to be at the same table it's getting to be Obama's table or Boehner -- one point artistry is Gabby.

At the table they're both there they don't get to go to the bathroom until they get something.

It's going to be a little faster negotiation coming up that's rescue we caught in the without -- agenda that dobbs Riley plan on him.

We'll be O Reilly -- operative on the O'Reilly dye plant and expect.

Well on the Fox Business Network you can have the -- O'Reilly Hannity offense we will have around -- that's something and I -- -- we compromise.

So -- where we can -- get out of -- It is all right.

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