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Congressman shuler, often what you ve been talking about this morning. tom coburn from oklahoma is a cranky, honest conservative. i think we can all agree on and a dear friend. yeah. okay. and he has been working on this report he s just issued, subsidies of the rich and famous, and included in the report he points out that the annual average of payments and tax breaks to the rich in this country, people making over $1 million a year amounts to $30 billion a year. and that includes their ability to write off gambling debts. something that people in your districts don t get to do a lot of because they probably don t gamble as much as the rich do. so you certainly get a sense of where people are coming from when they say there s something really wrong with the tax code in this country. give us two or three points where you think you can both agree on to at least achieve some pathway toward fairness and ....
Mike barnicle, i don t understand how you can leave things out of this equation. congressman simpson, listening to you and congressman shuler, and any number of public officials who have appeared here over the last year talking about exactly this situation. right. wouldn t we all have been t&c% people as a congress if we had just bitten the bullet and gone with the bowles/simpson recommendations? two years ago now? i certainly wish that that would have been recommended to congress. and to tell you the truth, in just my conversations with people, i think you put that on the floor, it probably passes. i can t say that for sure, but i think it probably does. you know, most people here, i think are willing to take a tough vote. and it s going to be a tough vote no matter what comes out of the super committee or what proposal to address our fiscal situation is. it s going to be a tough vote. i just want a tough vote to mean something. and $1.2 trillion doesn t get us ....
Simpson. you believe that new revenues are central to congress efforts to reduce the deficit. if you can t do tax hikes, where are you going to get this money? well, there are a variety of different proposals, and nobody has no organization or commission or anyone else has suggested you can get to $4 trillion to $6 trillion without additional revenues. for those of us in favor of revenue increases, that doesn t mean we re in favor of increasing tax rates, particularly at this time. you can get it by eliminating loopholes and those types of things. some people will call those tax hikes, i don t do that. i think if we lower the rates and created a more pro-growth tax policy and eliminated those exemptions underneath, at least a majority of them, you d get additional revenue. congressman shuler, i m wondering, though, if you re willing to go after medicare and social security, how deep are you willing to go in those cuts? ....
I have great respect for each of you individually. but collectively i m worried you re going to fail, fail the country. chris: erskine bowles sounding that he thinks they will fail to meet the budget deficit cuts. 100 members of congress representing both parties calling for the supercommittee to go big and cut the national debt by $4 trillion. joining us, north carolina democrat heath shuler and idaho republican mike simpson. and congressmen, welcome to fox news sunday. good to be with you. chris: let s start with the letter are that you group, 60 ....
Repeatedly about $4 trillion. why isn t $1.2 trillion enough? because that does not stablize the debt and does not start paying down our deficit. it is kicking the can down the road and frankly we are out of road. we have to make some very difficult decisions and no matter what the supercommittee comes up with it will be a difficult vote for every member of congress because there will be part of it that they don t like. the reality is if i m going to make a difficult vote that i m willing to make i want it to mean something. i don t want it to be just kicking the can down the road. chris: congressman shuler for all of this talk that your group is growing and the fact is that i think the prevailing sense, the conventional wisdom here in washington right now is that the supercommittee is deadlocked, in fact, the greatest chances are that they are not going to come up with any deal before november 23. before we get to whether that is real or not, what do you think the impact will be i ....