president obama today called for a one-year extension of the bush tax cuts for families who make up to $250,000. for those families who make $250,000 or more, taxes would go up in january. i believe our prosperity has always come from an economy that s built on a strong and growing middle class. so my message to congress is this, pass a bill extending the tax cuts for the middle class. i will sign it tomorrow. pass it next week, i ll sign it next week. pass it next well, you get the idea. but how much would extending the tax cuts for the family s making under $250,000 help our economy? bear with me if you will. i want to start by showing you something that the president and most democrats and republicans agree on, and that is that letting all the tax cuts expire would hurt the economy. so if we let all the bush tax cuts expire, the rates go up for everybody as they are set to do by law on december 31st. we would increase tax revenue by $221 billion in a single year. tha
good evening, everyone. i m erin burnett. outfront tonight, the president s math doesn t add up. president obama today called for a one-year extension of the bush tax cuts for families who make up to $250,000. for those families who make $250,000 or more, taxes would go up in january. i believe our prosperity has always come from an economy that s built on a strong and growing middle class. so my message to congress is this, pass a bill extending the tax cuts for the middle class. i will sign it tomorrow. pass it next week, i ll sign it next week. pass it next well, you get the idea. but how much would extending the tax cuts for the family s making under $250,000 help our economy? bear with me if you will. i want to start by showing you something that the president and most democrats and republicans agree on, and that is that letting all the tax cuts expire would hurt the economy. so if we let all the bush tax cuts expire, the rates go up for everybody as they are set
good evening, everyone. i m erin burnett. outfront tonight, the president s math doesn t add up. in a rose garden announcement today, president obama called for a one-year extension of the bush tax cuts for families who make up to $250,000. so, for those families who make $250,000 or more, their taxes will go up in january. i believe our prosperity has always come from an economy that s built on a strong and growing middle class. so my message to congress is this, pass a bill extending the tax cuts for the middle class. i will sign it tomorrow. pass it next week, i ll sign it next week. pass it next well, you get the idea. but how much would extending the tax cuts for the family s making under $250,000 help our economy? bear with me if you will. i want to start by showing you something that the president and most democrats and republicans agree on, and that is that letting all the tax cuts expire would hurt the economy. so if we let all the bush tax cuts expire, the r
outfront tonight, two heroes on the prowl. i need a hero i m holding out for a hero until the end of the night he s gotta be strong and he s gotta be fast yes, bonnie tyler, holding out for a hero. and yes, we think we found them. first stop, senate majority leader harry reid. today in an interview with politico he said the $1.2 trillion in automatic spending cuts set to begin on january 2nd should go ahead as is. come hell or high water. i am not going to back off the sequestration. that s the law we passed. we did it because it wouldn t make things easy for us. it made it so we would have to do something. of course we re in this position because democrats and republicans failed in the super fail super committee to reach a grand bargain and deal with our country s debt crisis. but still what reid said was absolutely right. and he follows another hero on this front. his buddy ole pal john boehner, who says he doesn t want to wait for the election and put all tal
outfront tonight, crisis in america. just take a look at this video. sums it all up. you at home watching, me, all of us are hurdling fullboard a cliff that could be our doom. this is the so-called fiscal cliff. $15 trillion in debt climbing every day. $2.8 trillion in tax cuts scheduled to expire this year. another debt ceiling drama looming. if we hit this cliff, we ll die. tonight i spent the day hearing the conversation at the fiscal summit from the key players, a bipartisan group including president bill clinton, treasury secretary timothy geithner, house budget committee chair paul ryan, house speaker john boehner, alan simpson, and what i heard from awful them is a bipartisan call for action and alarm. the next into years could be the most consequential two years we see in washington and have seen in the last 50 or 60 years. and interest rates will go up so fast you won t be able to catch your breath. how much? how much are they going snup some wall street invest