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Increasing revenue by about a trillion dollars. fox business network s stu varney s been up all night studying this stuff, going through all the details and all the fine printing. how you doing, stuart? good morning. i m well, bill. bill: how can it with that republicans how can it be that republicans be in favor of a plan that calls for new revenue? okay, here s how it s supposed to work. this plan by the gang of six calls for reducing, cutting tax rates on individuals. also cutting corporate tax rates and abolishing the alternative minimum tax. so it s tax rate cuts, the theory being that that expands the economy, and as the economy grows, the treasury takes in more money because more people are working and paying tax. so extra revenue because you ve expanded the economy by cutting tax rates. also in the plan, plugging tax loopholes, that is a ....
What we get are real cuts in spending and real reforms in place that ll make sure that this problem never, ever happens again. we mean that. the path forward, we think we have one, but it s certainly not complete yet. we re doing our very, very utmost to get this to pass as well as we can. there s no easy solution. bill: so what harry reid is talking about there is from a gang of six senators, a plan hailed by both democrats and some republicans so far, that plan calls for reducing the deficit by $3.7 trillion over ten years, reducing the costs of medicare and medicaid and increasing revenue by about a trillion dollars. fox business network s stu varney s been up all night studying this stuff, going through all the details and all the fine printing. how you doing, stuart? good morning. i m well, bill. ....