very, very scary thought. they can either support the tea party and their plan, which has no chance of passing, or they can work with us. tea party organizers are claiming the boehnor plan actually violates the cut, cap, and balance pledge that 51 house republican lawmakers have signed. the ultraconservative foundations have both come out against the boehnor plan. the heritage foundation fears the boehnor plan could lead to tax revenue increases. heritage fellow david adington writes the second set in the plan is a set of recommendations from a new dozen member joint committee of congress while the second step may produce some useful spending cuts, the second step also allows the committee to propose raising taxes as part
debt. 72% raising taxes on incomes over $250,000 a year. 66% raise social security taxes on people with incomes over $103 7,000 a year. 64% support raising taxes on hedge fund managers. 61% support raising medicare premiums were wealthy retirees. 59% support raising taxes on oil and gas companies. joining me now is msnbc political analyst howard fineman, editorial director for the huffington post media group. thanks for joining me tonight. howard, what s the latest reporting on what s breaking here on the boehnor plan. they went into the afternoon thinking they had a plan that was what it said it was and the question was how do we get everyone to coalesce around it, now the plan turns out to be much less than speaker boehnor
senator reid s option is the best one to get through the default crisis. we have a lot of work to do on the deficit, but listen, there was a report that just came out on your competitor, cnn, that, you know, one of the ratings agencies is saying that if the boehnor plan is passed, it means a downgrade, that means a tax increase for just about every american and higher interest rates. as the president said tonight, that doesn t solve the problem. we need to do the smart thing in the short-term here to make sure we don t default, but also don t have it hanging over our economy. also get to deficit reduction, going to include smart entitlement reform but also tax reform. six months from now, we know what s going to happen. if they get their way, this committee congress is setting up will hopefully do a good job. but if they don t, that committee sailmates, republicans will say here s our $1.8 in spending cuts, cuts in social
we have a lot of work to do on the deficit, but listen, there was a report that just came out on your competitor, cnn, that, you know, one of the ratings agencies is saying that if the boehnor plan is passed, it means a downgrade, that means a tax increase for just about every american and higher interest rates. as the president said tonight, that doesn t solve the problem. we need to do the smart thing in the short-term here to make sure we don t default, but also don t have it hanging over our economy. also get to deficit reduction, going to include smart entitlement reform but also tax reform. six months from now, we know what s going to happen. if they get their way, this committee congress is setting up will hopefully do a good job. but if they don t, that committee sailmates, republicans will say here s our $1.8 in spending cuts, cuts in social security, medicaid, medicare.
quit grumbling and whining and call the president s bluff by passing the boehner plan. now that the boehner plan has turned out to be a mirage, the grumbling and wining among house republicans has resumed full force. but having heard eric cantor s announcement earlier today that the boehner bill was nothing but a symbolic stunt designed to call the president s bluff, the white house rushed to prove the president is not bluffing. the administration strongly opposes house passage of the amendment in the nature of a substitute to s.627. if s.627 is presented to the president, the president s senior advisers would recommend that he veto this bill. senate majority leader harry reid assured reporters today that the boehner plan will never make it to the president s desk. speaker boehner s plan is not a compromise. it was written for the tea party, not the american people. democrats will not vote for it,