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Transcripts For MSNBC MSNBC News Live 20090803



middle class tax cut which president obama certainly doesn t want and campaigned against. it s not really good messaging. however, there is one thing. the liberal opinion writer, michael kinsly once said you make a gaff when you speak a truth. there is a certain truth in the sense that if you re actually fighting two wars, trying to overhaul the health care system, insure all americans and at the same time try to reduce the deficit again, the deficit, what was in the discussions with geithner and summers, that you re going to have to raise taxtion, not only on the rich, but probably everyone else. right now the white house isn t talking about any kind of deficit reduction that would call for a tax increase on the middle class. if you wanted to do all those things, you would have to raise taxes on everybody. seems to make sense. mark, thanks. the bank of america is in big trouble for lying about its acquisition of merrill lynch. b of a told shareholders merrill wou ....

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