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Detailed text transcripts for TV channel - FOXNEWS - 20101202:18:40:00

they don t pay much more in taxes, it s never been shown to work at 90% rates or 40% rates. tax collections are about 19% of gdp. they this are spending 3-plus trillion dollars. isn t 2 trillion enough? if they just spent that there would be no deficit. it s the spending that is the problem. megyn: are the republicans making that argument? just this week in connection with the segment we were doing i did research on what had happened his tore being lee when we lowered the taxes on the rich as opposed to raise the taxes on them. we looked at the coolidge administration. george w bush. it was it was a revenue razor. reporter: they paid more taxes. when tax rates were 90% ronald reagan would make four movies and go ride horses. he said it didn t pay to make more movies, it changes our

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