Will Congress OK raising taxes on incomes over $400,000?

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Reports -- deal will hike taxes on people making more than 400000.

Dollars a year but.

If the house did not okay plan to hike taxes on millionaires how would.

This plan passed.

We go -- -- Republican congressman from cat -- this.

Kim -- camp congressman thank you so much for joining us what's your take on where we stand now the framework of the deal here -- talking at least today was that this threshold.

Is being lowered tax hikes to families earning more than 450000 dollars a year he didn't like a million dollars and plan B.

What do you think of this new number.

-- or -- still looking for any study or any person that says raising taxes.

-- to create jobs we think this might impact a million small businesses say they're paying more in taxes -- but that's -- position most Republicans we don't want -- raise taxes but what I fear is a deal with no spending cuts no entitlement reform and raising taxes.

Looks like three three strikes you're -- and not a good deal and certainly not a solution to our.

Into a -- section end.

We are hearing now that the house will not vote on anything tonight because there's nothing to vote on despite all the work done.

Today and over the weekend nothing for the house to vote on which begs the question.

If we go over the cliff which it appears likely hear from New Year's Eve ball -- -- just hours away what next.

Well looks like the IRS has postponed the withholding tables so we we have few more days but.

The cinema has hasn't passed a budget in 1341.

Days and I didn't expect in the work very quickly today but hopefully they'll put something else but actually includes spending cuts is that's the problem here in -- Not only do we have the fiscal cliff we have the debt ceiling that we're gonna push through and blown through an enormous amount of spending since the last debt deal and then again that remains a problem.

And any deal that -- spending is is no real solution actually just punts and makes it more difficult down the road.

How we get leverage by negotiating around the debt ceiling because as you know its second time in what two years that we've blown past the debt ceiling yet.

No one seems to care.

There's no let no flooding.

Well -- -- -- the bad debt deal a seventeen months ago created much of the situation today and in a couple months wolf face that again but I certainly hope.

I think the last thing Republicans want to do is have -- thing around the debt ceiling inside this potential deal.

But again we don't have any details we'll hopefully hear those in the -- a couple hours get some finalized.

Finalize details out to us but again it looks like three strikes are going the wrong direction and they and that's frankly what most my constituents -- Washington would do is ignore the real problems and say they've solved and go home for the New Year's and they end that again.

That does not solve a spending problem here in our nation's capital.

Right congressman we appreciate your take thank you Cingular.

-- hours ago before the new year the market may be -- markets -- 166 points today but again their hours ago.

Two democratic congressman from New York Charlie Rangel now with his take on things so.

You know looks like taxes are going up for the higher earners some would argue congressman.

Yet the sequestration if that also goes into effect -- a decent serious economic damage especially in defense industry and jobs there.

It's amazing how people have such -- no confidence in government just some people say that we have -- -- -- -- looks like we're close the deal people have been.

The fact is that we don't know whether we have a deal -- not but if and if -- -- White House send me.

Send it can leak -- information to depress that would close to it.

Let's accept that -- sequestration is a problem that we created as one that we can move on and deal with that in that the time I know that will be the case.

But right now I think people want to see big government work together.

And if we have that type of attitude instead of one of confrontation.

Is no problem before was that collectively we cannot resolve.

The congressman Rangel something I want to you know I'm with you this confidence in government I mean.

Why should Americans -- the saints in congress in new -- -- Being down this road before the debt ceiling fight of the year and a half ago -- it's just totally dysfunctional we can't.

Get to a deal we can't get to a compromise its one click after the other it seems.

Combined value of -- have BP and balance and they just -- good news is that we go mostly at.

And you saying what if what if you're probably right these are problems that we're going to have to face I mean you are -- -- -- Senator John McCain started up.

Saying there's no -- -- Senator McCain and nine the same position we outside of the -- We're not involved in a negotiation.

And we had some good news just a few minutes ago.

That we'd probably close -- resolution a temporary resolution of the problem.

This is not the time for us would be complaining about problems that are going to be -- and a very -- -- isn't a resolution and down the road I -- the kicking the can phrase.

Is like the ban phrase for the new year because he over -- -- so many times when can we just -- appear on this and move -- time.

But one thing that we we -- -- -- -- grand bargain entitlement system in this country they didn't theory we have Britney we all want to agree and login but the people that the stock market.

Looking forward to this that that we have not full of enough of the cliff.

That people are talking too -- job that they should have and as I started off.

We should be proud of the fact that grown people -- leaders that have been elected talking over each other.

But for crying out loud -- -- that that's all we got now we have to take that and see whether we -- approval bought it.

But before we had anything that has been publicly announce I don't think that we should be complaining that is not his brand as we wish it would be what we should.

Doing now is still learn a lesson -- -- -- two -- -- promised the American people that this will never happen again right.

I'm so yeah I feel like I'm still gonna look like -- -- -- thirteen and quite honestly congressman that scares me.

I don't I can't believe that they definitely in particular lab it went by.

Listen to any they do it is is tomorrow so let's see what we can get some good exciting news tonight.

And -- and then try to make up for the disappointments that we have because the American people.

And to make certain that we don't cause this for the entire world who are so dependent on the glass half -- just because you're telling us to congressman thinking.

So much for -- -- -- good for you.

Thank you once again congressman Charlie rank up.

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Will Congress OK raising taxes on incomes over $400,000?

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