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Detailed text transcripts for TV channel - FOXNEWS - 20100710:15:04:00

under the tax cuts and bully for the tax cuts, they brought in more than $700 billion by some estimates and more federal fiscal knew. david: victoria again, i emphasize it s not just rich people that the tax increases are going to go after. it s small businesses. it s small businesses, and it s investors. you have the possibility of the capital gain rate going up. that is going to be a hit on the stock market. it s probably being priced in already. you know, i think there is the reality of taxes, actually, going up. and then a psychological tax on people just not knowing what their tax rates are going to be. we need certainty in the tax system. not i blame the bush administration for this. not this sort of temporary phasing in and out, which i think we will see again, because that s the way the democrats can loophole their way around the deficit issue saying well, we ll increase these rates and we ll decrease these rates but only for another five years and long-term they will rat

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