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Detailed text transcripts for TV channel - FOXNEWS - 20101121:17:14:00

you mentioned the issues of spending. a lot of the proposals as far as deficit reduction also include possibly raising taxes, something that most republicans very hem meantly oppose. that part of the solution, and how willing will people be to come to the table with that as an option? will, you can t get there from here unless everything s on the table. it s that simple. the biggest part of the problem is spending. the biggest part of the problem, as i said, is about 75% spending, but we have revenue issues. whayou don t have to raise rateo address the revenue issues. the way you address the revenue issues, you fundamentally change our tax laws. our tax laws are incredibly complex. they re inefficient. they don t raise the money they claim they re supposed to raise. if you change the tax laws, you can do it in a bi-partisan way. we ve put out a plan where we basically eliminate a lot of deductions and exemptions. in exchange for that we dramatically reduce the th incoe tax rates of a

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