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Detailed text transcripts for TV channel - FOXNEWS - 20100417:16:43:00

Cuts for people at the very top. i believe the wealthy in this country have a responsible to help solve that problem. reporter: so does president obama who intends to raise taxes for singles making more than $200,000, couples making more than $250,000, which will bring in $826 billion more over ten years. the critics warn tax increases can be counterproductive, especially those the president wants on investment income, because they can slow down economic growth. the only way the government revenue can go up in real terms is if the economy grows, the tax base grows, there is more people working. there is more profits for business. larger payroll to be taxed. reporter: president obama plans to push the capital gains tax rate from 15 to 20% and healthcare reform on top of that adds $3.8% medicare surtax on all investment income including dividends. anytime the government raises taxes on savings and investments like they are with the new medicare tax, you are going to have less s ....

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Detailed text transcripts for TV channel - FOXNEWS - 20100417:17:22:00

Countries face downgrades. because the u.s. is stronger the credit rating won t suffer until interest consumes more than 14% of revenues, under president obama s budget planses u.s. crosses that line in 2015 reaching almost 15% in interest payments. this is something that is dangerous by the lesson the history. the credit rating agencies havemetrics. debt could be downgraded forcing higher interest rates. and by 2020, interest payments will eat up 20% of federal revenues and keep climbing so by 2025, interest payments and social security and medicare for baby boomers will eat up every dollar of federal revenues. there will be no money left for defense, education, highways, anything because the entire federal budget will go to social security e medicare and medicaid. it s an unsustainable course. ....

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