Fox News
Expand
Browse All Video
Watch Live

You're watching...

White House pushing GOP to sign on to higher taxes

Details

  • Description

    Sen. Orrin Hatch weighs in

  • Duration 5:16
  • Date

Clips

Also in this playlist...

Latest News

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

We -- less than four weeks away from the fiscal cliff and the only thing for certain is that no deal in sight.

Yesterday the president took the airwaves to push his hard line stance.

We're gonna have to see the rates on the top 2%.

Go up and we're not going to be able get a deal without it.

And -- -- our next guest says the president is not being balanced in this -- and a classic bait and switch.

Why not proposing what he actually campaigned on you toss in -- ranking Republican in the Senate Finance Committee Orrin hatch joins us from Capitol Hill senator good morning -- -- good morning do you explain that classic bait and switch.

While the president is asking for double the tax increases that he asked before the election.

He has and he has.

He has.

Billions in new spending.

And last but not least in the president.

Once unchecked authority to be able to borrow more money from China thinks and by having control of the whole bit and debt -- -- the constitution says that that.

The ability to borrow it money on the credit of the United States is only congress'.

Right.

So -- the kind of things have just said look he's not negotiate in good faith if I was secretary Geithner and secretary of the treasury.

I would refuse to bring that offer up because they know that not even Democrats will support that approach.

And on the other hand.

You know -- offered 800 billion dollars and revenue increases but not racing the tax rates we know once we do that base today.

And now spend every dime of it but we will raise -- out of revenues changes in the federal code where we can actually stop some of the provisions and and hopefully get enough money to raise to 800 billion dollar I know we can.

Without taxing seven well actually almost a million small businesses and costing about 700000.

Jobs that's what a lot of people don't understand.

It is something else a lot of people don't understand we know that at the end of this month then we're right at the fiscal -- And we look at John Boehner and you're right he he did give up.

Revenue is it okay I'm -- cable network will raise revenue with the president has been absolutely adamant I am not budge in.

Unless the top 2%.

Pay a higher rate not just revenue -- higher rate.

Well the top 2% will pay higher taxes because of the revenue raising that we were raised to about raising the tax rates.

Once you raise -- tax rates they become permanent you can't change it.

It'll be almost impossible to change and of course that affects like a side.

Almost a million small businesses and about 700000 jobs and that's what the American people aren't getting from.

The debate on this subject and frankly it is a bait and switch because the president has put out a plan that even Democrats won't support.

That literally will not work.

That literally has been constantly even more spending -- we have right now and and privacy even more than the sixteen.

1000000000300 billion dollar debt that we're -- going up every day.

You know senator for generations.

Americans have always tried to make sure that.

That.

Our children our children's children want to -- the better America but.

You know with with this president and -- spending the amount of debt.

Going forward which our children and our children's children are gonna have to pay for.

Maybe the Republicans should just let him sail off the edge and do it for the children there it's going to be pain in the short term maybe a little longer than that there might be a bit of a recession.

But in the long term it might actually be matter.

Well it -- have done that and of course we've got a bit about.

A vast majority of our major made in this country is on his side that no matter what he says no matter what he doesn't even know what he's doing -- outrageous that.

It his -- important won't support.

So -- -- it's it's amazing to me that they let him get away with it and we have a president -- Just doesn't mean with that the the people who can help put this together.

I mean they've had.

You know they admitted that he had molested awaits hardly -- he's traveling around the the country.

That nobody had heard before.

He was out of the toy factory.

Continuing campaigning I mean why can't -- sit down with members apparently the Democrats are complaining that the present we'll sit down more than perspectives.

This president basically.

I don't think wants to work with congress.

And without that without presidential leadership.

Without him really coming and saying look let's get rid of that -- let's get down to business.

Mr.

-- you and I are.

Friends let's get this done and we can do it I'll give some you give some let's go from there he is not even willing to do that you touched on -- right at the end senator.

Time for leadership presidential leadership or right or I have to say one other thing I've -- The difference is 43 billion dollars they're willing to take from the administration willing to take us off the -- him for the difference between 23 billion dollars over the next year.

It's crazy.

Drop in the bucket because we have a really big bucket all right or national right we thank you very much for joining us from capitol.

Load More