even if mr. obama is successful in raising the tax rate on the wealthy, he s not going to get much money. there are about 315 million americans and just 230,000 homes bringing in more than a million bucks a year. so it s a ruse, alass warfare illusion. taxing the rich is not going to make much of a difference. what will make a difference is reforming the entire tax code to collect more money. modifying the medicaid and medicare systems, and 10% cut across the board on all government expenditures. if that would happen, america s economy would soar. money would pour in here from all over the world. unemployment would drop. business would expand and happy economic days would be here again. if the feds do not pass spending, greece is the word. an apology to frankie valli., that s a memo. reaction joining us from a rock and a hard place duo.
have in place today, and young people who are paying into that, expect that program to be sound and for them to receive benefits when they reach retirement age, that is just a lie, and i don t care what anyone says, we know that, the american people know that, but more importantly, those 25-year-olds know that. governor romney, let s be blunt, let s be blunt, democrats are itching to use that kind of provocative language, but you yourself say there s problems, how do you have a candid question about social security without scaring seniors? the funding program of social security is not working, and congress has been raiding the dollars from social security to pay for annual government expenditures. that s wrong. the funding, however, is not an issue. in the book fed up, you say by any measure social security is a failure. you can t say that to tens of
have in place today, and young people who are paying into that, expect that program to be sound and for them to receive benefits when they research retirement age, that is just a lie, and i don t care what anyone says, we know that, the american people know that, but more importantly, those 25-year-olds know that. governor romney, let s be blunt, let s be blunt, democrats are itching to use that kind of provocative language, but you yourself say there s problems, how do you have a candid question about social security without scaring seniors? the funding program of social security is not working, and congress has been raiding the dollars from social security to pay for annual government expenditures. that s wrong. the funding, however, is not an issue. in the book fed up, you say by any measure social security is a
plan he s going to unveil in september. he s got to deal with the congress that the republicans are the majority of the house, is this balanced approach a forecast of what we re going to see? he has to go for a balanced approach. we saw from the debt limit debate that he s between a rock and a hard place, to a certainly extent. you have a field of presidential candidates at this point, a 10:1 balance. for every $10 of government expenditures cut, could they do $1? tax revenues? no. we are at the point where obama can haveรง these elegant jobs plans, but in terms of getting them through, he s got to shoot for the center. even that may not be enough. the other thing i m reading a published report today is you have the gas tax that will expire in september. this may be the next fight for those that have signed these nor quist pledges of no taxes at all. we may have a showdown over the
the value of deductions for people making $200,000 or more as an individual and $250,000 or more as a couple and 2/3 nissan affected by this are really small businesses. and, so, this would have a dill deleterious effect, and, the other is a end of last in, first out, an accounting measure used by small businesses that allows them to sort of, in essence, lower the cost of their inventory, for tax purposes and again would have a big impact on small businesses, but, would have a as much as $400 billion, this and the other change on deductions, $400 billion, in revenue over the next ten years, and a huge impact on small business. alisyn: let s talk about where the real big money is, where the real government expenditures are and that, is entitlements. and, let s puts up a full screen, how much those cost every year. start with social security. there. $700 billion, by the way, that is per year.