Also in this playlist...
This transcript is automatically generated
Okay four days ago you just heard from senate majority amongst our minority leader Mitch McConnell his rival Harry Reid says were heading over the fiscal cliff.
For taxpayers the panic is just setting and -- going in for Neil Cavuto and this is your world don't look now but taxpayers are starting to freak out because a half trillion dollar plus tax -- is about to kick again.
The deal to avoid fiscal cliff is nowhere in sight and time is running -- we decided hit the streets and show people.
This this graphic shows how big attacks that you -- expect depending on your income level no matter where in the country you live.
And for folks who could soon be forced to pay these higher taxes.
January 1 this -- Wow wow is -- wow those.
Well it's me somewhere betraying.
Dollars -- -- so I'm not what you want.
I would rather -- it and paycheck by paycheck five kids and that's gonna put us.
Way down in -- home.
You know -- mean you got anything.
We need to keep -- money in our pockets to help our country first and it sucks.
-- Have a lot more pathetic thing to do it that money.
So taxpayers are clearly worried is my next guest reaction from Florida Republican congressman lieutenant colonel and good friend Alan west -- -- at first let's start with -- Some some news we heard just about an hour ago so.
That the leadership was actually calling you guys back to DC have you heard that I heard -- 6:30 AM Sunday is that accurate.
You are correct and it's good to be with you Eric we had a cough was called just this afternoon.
From 23 it is about 305 PM and we will be coming back to Washington DC Sunday evening 6:30 PM no later than.
All right let's talk about -- Again -- Senate Minority Leader Mitch McConnell says hopefully hopefully there's still time to get this thing fixed before we go over the cliff.
-- -- -- -- -- I think there is you know we have done our business in the House of Representatives we have sent a bill to the senate.
Which says that we will keep all of these tax rates where they are.
In the senate must act on that bill that piece of legislation that's regular order.
So we don't need to talk about a couple of guys are people getting together in a room to negotiate a -- with the deal.
We need to do that which is pragmatic and based upon what you just for people say.
We -- to keep the money in the pockets of American people.
Right now the spending problem that we have a -- in -- DC is affect in this country.
You know we have not had a budget passed a special seven last three -- four years and what does that mean we're telling the American people that they have to tighten their bootstraps but we.
Do not seem to want to do that Washington DC.
As well we have a -- -- that is printing more money.
To the tune of about 45 billion dollars a month to buy up -- treasury bonds which again is a failed monetary policy which shows in this economy is not on the right track.
Represented what do you think about President Obama cutting his Hawaiian vacation short coming back in May be to fix something.
That he broke in the first place.
Well when you sit back and you look at where we are with our economy.
The amount of debt that we have incurred -- -- we have had four straight years of trillion dollar plus deficits.
When the president sits down says that he wants a raise taxes on those to -- 50000 or above.
That's only going to generate about 850 billion over the next ten years -- We have had one point 421 point 291 point 31 point two and now we're on the way to another trillion dollar deficit.
Just for these years so what the president is proposing.
Is not pragmatic whatsoever and it really is a reflection of him I suppose Livan has some type of fantasy world what -- You think of -- The -- -- speaker Boehner offered the president.
Well I was against the -- B because I don't see this as being a tax revenue increase issue.
The most important thing is the spending.
I think we could go back to the president's commission the -- some -- commission and that could be a star something that the president didn't even adopt.
But the most important thing we have to deal with the spending problem first and foremost.
-- we live -- A of America where the federal government now is spending 25%.
Of our gross domestic product.
And when you study the Obama budgets that number will increase about 32% of our GDP.
So that's where the the problem has -- emanate from is suspending problem -- look at our mandatory spending side of our budget.
Of what we're spending money on it it's not just about defense is not about just about discretionary.
Represented is there any indication that that the presence deal Leadbetter he may come back with will address the spending I -- heard any.
Substantial spending cuts out of any of these deals on the on the left.
No absolutely you got here in that whatsoever.
And when I listened to us senator Chuck Schumer says that the president ran on raising taxes and there -- forces he want we should do that.
I have to tell you that I'm not such Syria and idiotic person I wanna follow -- one.
Off into the abyss.
This is a horrible.
You know political gimmick that the president ran on -- -- he did when -- election.
But when you look at the House of Representatives the Republicans maintain their majority there.
And that is where revenue bills emanate from how we have to leave it there lieutenant colonel Ahmad analyst thank you so much for joining us always great -- like -- happy new year you --
Filter by section