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Detailed text transcripts for TV channel - FOXNEWS - 20121002:11:06:00

who wins and how the lay of the land will g depending on who wins the election. if the president wins reelection, you ll possibly see gridlock. now the talk is to just let them expire temporarily and then do a quick fix for everybody but the upper bracket, so that way you could say look, we passed a tax cut and we did raise taxes on the upper bracket. if mitt romney, then he ll probably say i need time to fashion a budget. i ll have to do this in 2013. there may be delay. in that case, in either scenario, the u.s. congress would say to the irs look, adjust the tax withholding tables and so until we deal with this. so it s not an open and shut case. everybody will see their tax rates go up or tax go up january 1. there could be some leeway there. gretchen: liz mcdonald, thanks so much. he s putting down the guitar, taking up politics. scott stapp on why he s switching from obama tropical storm 9-11 then bill o reilly and laura ingraham are here together. what do they expect

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