term deficit reduction plan and the idea, the white house calls the buffett rule, based on comments made by billionaire business man warren buffett and the chairman of the house budget committee, paul ryan discussed the plan on fox news sunday this morning and the wisconsin republican said hiking taxes on the rich will do more harm than good when it comes to spurring job creation. >> class warfare may make for good politics but makes for rotten economics. we don't need a system that seeks to divide people and a system that seeks to prey on people's fear, envy and anxiety and we need to remove the barriers for entrepreneurs to go out and rehire people and i'm afraid these tax increases don't work. >> eric: joining us now is this angchor of fox news sunday, chrs wallace. >> good morning, other than that he liked the idea a lot. >> eric: he says if you tax more you get less. what did he mean by that? >> exactly. he's saying that if you tax