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Detailed text transcripts for TV channel - FOXNEWS - 20130103:15:28:00

The tax foundation has been crunching these numbers and here is how much the federal government is going to squeeze from the less than 1% of the country. out of 143 million tax returns, just 1.1 million, or .7% will pay more than 40% of all federal income taxes. we cannot sustain a situation where the top 1% pays 40% of the tax burden while the bottom half roughly on average pay no income taxes. reporter: so he s referring to the 60 million americans who have a zero or negative tax liability because they get breaks. the .7% will pay more in basically income taxes and capital gains and dividend taxes as well, that s people earning over $400,000 a year. bill: turn and face the changes because they are right in front of us now. thank you, william. william la jeunesse. heather: is that a song? , turn and face the changes? ....

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Detailed text transcripts for TV channel - FOXNEWS - 20130101:16:18:00

We ve been having the debate whose taxes should be going up and so on. let s not forget the overall impact of this bill is very negative for the economy. means higher capital-gains taxes higher dividend taxes. higher taxes on small businesses the some of my liberal friends would say, that is only people that make over $450,000. rick, as you know, two out of three of those people in the high income category are small business owners. the overall impact is anti-business and anti-growth. the by the way only way we get the deficit down is get the economy growing again. i think congress and the white house lost sight of that. rick: for conservatives in the house of representatives sitting reading this bill right now and trying to figure out what they re going to do, as a conservative economist what would you tell them to do? you know, i think that, the republicans were in a very bad position to begin with, because as you know, rick, if we had not acted, if the senate had not acted last ni ....

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Detailed text transcripts for TV channel - FOXNEWS - 20121213:12:08:00

That many people believe that there should be spending cuts and what was the exact question? steve: the caveat is if the income taxes go up, so in other words, it s a done deal. we re going to get that money from the top 2%. then would it be fair to go ahead and make some major spending cuts? that s a no brainer. gretchen: yeah, but that s not what is happening in the negotiations right now, which is fascinating to me. steve: no, because the president is trying to inflict pain on the opposition party. gretchen: i don t know what the reason is, but the bottom line is so far he s not apparently giving on the spending cuts, even though 90% of the general public believes that should happen. brian: right. on top of that, a side note, dividend taxes, they re going up. capital gains and upper tax rate and you ll be surprised how many of you will be affected. if we go off the fiscal cliff, over $3,000. 88% of the country will be affected for about $3,000, your tax also go up on ave ....

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Detailed text transcripts for TV channel - MSNBC - 20121203:07:48:00

Cut medicare by $716 billion. what they wanted to do was to add that $716 billion back into medicare, which would have cut the solvency by eight years. so they attack him for $716 billion, and now they are coming around saying, mr. president, you don t have enough medicare savings in your plan when in fact his plan over the next 10 years well, both things can be true. there s still not enough detail about how you fundamentally restructure medicare because the president does not want to make that commitment yet before he solves the tax issue. we ll come back. absolutely the right point, david. the fact is i find is extraordinary that we are zeroing in on this discussion only about taxes and we do not have this kind of discussion when it comes to spending cuts. two points. americans realize that the three biggest drivers of our debt are medicare, medicaid, and social security. we need structural change. we haven t heard that. number two, on taxes, you really can t put all of the ta ....

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Detailed text transcripts for TV channel - MSNBC - 20121203:09:27:00

Have this kind of discussion when it comes to spending cuts. two points. americans realize that the three biggest drivers of our debt are medicare, medicaid, and social security. we need structural change. we haven t heard that. number two, on taxes, you really can t put all of the taxes into one category. dividend taxes, for one, is probably the biggest threat to the markets and the economy right now when you re just looking at taxes. and dividend taxes are not a rich tax. nor a capital gains. you re talking about pension funds, 401(k) plans, invest in companies that pay dividends. if you re expecting a dividend tax to go from 15% to 44% that, completely removes the opportunity or the incentive to buy dividend paying companies. and that s going to hurt not just the rich. that s going to hurt everybody if we see that. that s very dangerous, and it would create a massive selloff. one of the things that the president has done, going to congress and said, going out and encouraging peopl ....

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