that i would argue you know that at some point you realize that taxing the extremely wealthy like mr buffett is not worth about fifty billion dollars won't cut it and then taxing people over one million dollars in income won't cut it and then taxing people are going to. come after that short break we'll continue our discussion on taxing the rich stay with our. mission. could you take three. or four charges. arrangement three. three. three. three broncos video for your media projects. done to our teeth dot com. we'll. bring you the latest in science and technology from the realms. of the future. and. welcome back to around the time peter lavelle to remind you we're talking about increasing taxes on the ridge. you. would take if i go to you karl and houston you know it's an interesting debate maybe we get into a moral dimension here about taxing the rich because they simply have much more wealth and particularly what is it for one of the freshest richest four hundred people in the united states have more wealth than the bottom one hundred fifty million ok but nonetheless no one has said it in

slope that i would argue in order at some point you realize that taxing the extremely wealthy like mr buffett is not worth is about fifty billion dollars won't cut it and then taxing people over one million dollars in income won't cut it and then taxing people are going to. want it after that short break we'll continue our discussion on passive the rich stay with argue. the case. i'm on a worldwide manhunt for him lasted for fifteen years. i one million euro war and wasn't punished for his capture. political mass murder for the west. for minions of. general of the serbian army. of the modern age here are the illinois arch. extra. caves. fifty feet. to. see. the caves. stone. welcome back cross talk i'm getting all about to remind you we're talking about increasing taxes on the rich. plum cake. story. ok if i go to you karl and houston you know it's an interesting debate maybe we get into a moral dimension here about taxing the rich because they simply have much more wealth or particularly what is it for one of the fittest the richest four hundred people in the united states have more wealth t

slippery slope that i would argue in some point you realize that taxing the extremely wealthy like mr buffett is not worth about fifty billion dollars won't cut it and then taxing people over one million dollars in income won't cut it and then taxing people are going to think that we're going after that short break we'll continue our discussion on taxi the rich stay with argue. the case. for the full story we've gone to. the biggest issues get a human voice ceased to face with the news make a. cake . welcome back eurostar computor all about to remind you we're talking about increasing taxes on the rich. ok if i go to you karl in houston you know it is it's an interesting debate made we get into a moral dimension here about taxing the rich because they simply have much more wealth are typically what is it for one of the fittest the richest four hundred people in the united states have more wealth than the bottom one hundred fifty million ok but nonetheless no one has said it in the program yet and i'm really surprised it's the rich that actually pay most of the taxes in the united states. you

slippery slope that i would argue and at some point you realize that taxing the extremely wealthy like mr buffett is not worth about fifty billion dollars won't cut it and then taxing people over one million dollars in income won't cut it and then taxing people are going to just want to thank him after that short break we'll continue our discussion on taxes the rich stay with r.t. . if you. think you can. the official. called touch for me some. light on the. video on demand. mind. r.s.s. feeds now in the palm of your. on the call. welcome back around the time you know about to remind you we're talking about increasing taxes on the rich. ok if i go to you karl and houston you know it's an interesting debate need we need into a moral dimension here about taxing the rich because they simply have much more wealth and particularly what is it for what are the freshest richest four hundred people in the united states have more wealth than the bottom one hundred fifty million ok but nonetheless no one has said it on the program yet and i'm really surprised it's the rich that actually pay most of the taxe

that i would argue you know that at some point you realize that taxing the extremely wealthy like mr buffett is not worth is about fifty billion dollars won't cut it and then taxing people over one million dollars in income won't cut it and then taxing people are going to just be right now are going after that short break we'll continue our discussion on taxing the rich stay with our. mission. critical free. free. trade agreement three. three. three. playfields for your media projects c.d.o. gonta hearty talk time. to the latest in science technology from the realms. of the future covered. and. welcome back to crossfire i'm carol about to mind you we're talking about increasing taxes on the rich. and you can say. ok if i go to you karl and houston you know it's an interesting debate maybe we get into a moral dimension here about taxing the rich because they simply have much more wealth of particularly what is it for a lot of pictures for richest four hundred people in the united states have more wealth than the bottom one hundred fifty million ok but nonetheless no one has said it on the pro

that i would argue you know that at some point you realize that taxing the extremely wealthy like mr buffett is not worth about fifty billion dollars won't cut it and then taxing people over one million dollars in income won't cut it and then the taxing people are going to be right because i want to come after that short break we'll continue our discussion on taxing the rich stay with our. the worldwide manhunt for him lasted for a fifteen year. one million euro war it was promised for his capture of. political muscle murder for the west. there are so many. general of the serbian army. problem on edge here are criminal. charges. eve. and. welcome back to rostock i'm teetotal about to remind you we're talking about increasing taxes on the rich. and you can. still. go to you karl and houston you know it's an interesting debate may bring it into a moral dimension here about taxing the rich because they simply have much more wealth and particularly what is it for one of the freshest richest four hundred people in the united states have more wealth than the bottom one hundred fifty million ok but

mr. buffett is no longer c.e.o." here's the most interesting part of the story: wescheler paid to have lunch with buffet after winning the billionaire's annual charity luncheon two years in a row. tom, clearly he impressed buffett with more than just his table manners. >> obviously with that investment in that auction lunch lots of return on that investment for that investment manager, no doubt about it, suzanne. you mentioned the late day comeback on the markets with nick. let's get rolling with tonight's market focus. the day began with big european worries washing ashore again here in the states, but by session's end, the major indices ended in the green. let's look at the day's trading for the dow jones industrial average. here's where we were at all day long. the index stayed in the red throughout most of the day, hitting its low when germany said it was looking at all possibilities for greece. the dow finally popped into positive territory less than 10 minutes before the closing bell. nice gain of 69 points. it

. >> you think warren buffett doesn't --. >> i think mr. -- i think mr. buffett is a really intelligent individual, but i can promise you, doesn't know what's going on in places that -- where the job creation is at a zero, because of overtaxation and overregulation. >> and herman cain has bravely and irrelevantly ruled out running on a ticket with rick perry. >> could you support rick perry if he were the nominee? >> today i could not support rick perry as the nominee for a host of reasons. him being soft on securing the border is one of the reasons. i feel very strongly about the need to secure the border for rio, the need to enforce the laws that are already there. that's where he and i have a basic fundamental difference of opinion. >> realizing that the president's poll numbers make his re-election seem like an unhill battle at this point. the vice president offered an important political reminder in a radio interview in florida today. >> there was a guy i knew who used to be the mayor of boston back in the '70s and the press was asking him legitimate

mr. buffett, let's talk taxes a moment, you have been very outspoke been millionaires, the uberrich paying their fair share of tax, but since, you know, since the portion of their taxes really suspect going to make a huge dent in the deficit, are you happy seeing your suggestion this new bufet rule, becoming more of a basis of a political battle that really -- that really has turned into class warfare? >> well, no actually, there has been class war fare the last 20 years and my class has won. we are the ones that got their tax rates reduced dramatically. you look at the 400 highest tax payers in the united states in 1992, the first year for figure, they averaged about 40 million of taxes per person. and the most recent year, they were -- of income per person. the most recent year, they were 227 million per person, five for one. during that period, their taxes went down from 29% to 21% of income. so, if there's class warfare, the rich class has won. but it's not a tax on all million fires in ten millionaires or anything like that. it is only a tax -- only a minimum tax on people who make lo

mr. buffett. >> with regard to his tax rate, if he's feeling guilty, he should send in a check. but we don't want to stagnate this economy by raising taxes. >> reporter: given the republican house speaker's consistent opposition to tax hikes, the buffett rule looks like a no-go. republicans suspect that's just what the president had in mind. >> i wonder if john boehner knows what it sounds like when he continues to say the position of the republican party in america is that you can't impose one more penny in taxes on the wealthiest people. i wonder if he understands how that sounds in ohio to working families who are struggling paycheck to paycheck. >> reporter: what looks doa on capitol hill may have many lives on the campaign trail. candy crowley, cnn, washington. >>> what's behind the president's proposal to tax millionaires, and will it fly on capitol hill? those are some of the questions i'll ask cnn contributor errol lewis later on this hour. >>> the piece of a sunday service shattered at a lakeland, florida, church. a gunman opens fire hitting both the pastor and associat

mr. buffett, if you're interested in paying more taxes, stop the current action with the assessment thateled at you and pay them off. >> obviously, he's a hypocrite as well. the problem is that the money that the wealthy don't send to washington, that's the money that they use to grow the economy. when you take money away from the employers, business owners you're not diminishing their consumption, you're diminishing their investment, their ability to fund new plant equipment, to hire people. to make loans to other businesses, other startups, we don't want money that would have been invested in the private sector productively to be sent to washington to be squandered. >> mike: now, you've moved jobs overseas, jobs that could have been in america, but you said you really didn't have a choice. why, if it's easier to move a job overseas than it is to hire somebody right here at home? >> first of all, i had to open up a bank off shore for my international appliance. my brokerage firm, i used to take clients from the u.k., from australia, from hong kong, from south america. but, the governmen

mr. buffett and mr. pap real tax reform systemically addresses all of those taxes in a uniform fashion so we see economic growth and people pay their fair share. the notion you can find 22,000 high-income american, target them to solve our problems doesn't add up. might be good politics. you only raise about $20 billion. >> the key -- you don't get much. >> in the case of john paulson, the money he's investing in hedge fund investments, that's other people's money. not necessarily his money, which he made a profit, an income of $2 billion taxed at 15%. he's not really playing with his own money. he's playing with other people's money. the question remains, should he be taxed at 35% as opposed to 15%? >> the real issue is how do we want to deal with the return to saving investment ins tax code? you can't do it on a hedge fund manager. you have to ask the serious question, do we want to have incentive 20 save? americans always save too little. had they save, put it in risky investme investment, how much of

darren began by asking him about why the president is so focused on the buffett rule. >> mr. secretary, fisch of all, thank you very much for your time, appreciate it i want to start off y is the president focusing so much on what people are calling the buffett rule? >> well w what the president laid out today was as part of a very tough, very strong long-term fiscal reform to go back to within our means, re-- he proposed comprehensive tax reform with important broad principleses. those were the lower rates, try to clean up a lot of waste in the tax code, help contribute to deficit reduction, help improve incentives for investors in the united states so we're more competitive but also we want to make the system more fair. as part of that what he said is it's only part of it, his basic views if you make more than a million dollars a year today, that we want to make sure you're not paying less in tax than an average middle-class family. >> well, the top 1% of taxpayers now pay about 40% of all the federal income tax in the country. so can they pay more? how much more should they

mr. buffett talked about. the truth is republicans are just defending the economic policies that besieged the middle class for years. is it class warfare to ask middle-class americans to get by on less while those 400 americans are paying a lower rate than secretaries and janetors who work for them? let me explain this as well as i can. wwe will do whatever we can to protect the middle class and seniors, even if it means that the rich have to pay a little more than they do now. even if if means c.e.o.'s and hedge fund managers making hundreds of millions of dollars every year have to contribute the same amount or more as teachers and firefighters whose salaries are a fraction of the size of theirs. it's fairness, simple fairness. 14 million americans out of work. 14 million reasons to put job creation ahead of tax breaks for millionaires and billionaires. as the economist and former labor secretary robert reich said, "true patriotism isn't cheap. it is about taking on the burden of keeping america going." mr.

mr. buffett should pay their fair share. i appreciate the concept of the buffett rule. and i look forward to seeing more details, and i agree that one of the best investments that we all could make is to the infrastructure of this great country. but as they stand right now, president obama's proposals are too skewed to appeal to both sides of the ievment so we see what we see happening again. if we're serious about addressing our debt and deficits, neither republicans nor democrats can propose partisan proposals and then pretend their crefnlt we can't do that any longer. the american people deserve better and i also know that we can do a lot better. in my short time in corntion i have seen only one plan that has earned support from members of both parties. in fact, the president's own bipartisan deficit commission, the bowles-simpson group, is the best example of what can be accomplished if we put politics aside. while no one, including me, will agree with everything in the bowles-simpson approach, it at least offered a commonsense, bipartisan template that would cut sp

mr. obama said tax reform should be guided by what he called the buffett rule, higher tax rates for millionaires, named after the billionaire investor. >> middle class families shouldn't pay higher taxes than millionaires and billionaires. that's pretty straightforward. warren buffett's secretary shouldn't pay a higher tax rate than warren buffett. >> reporter: in the latest nbc news wall street journal poll the majority of americans support increasing taxes on the wealthy, but republicans immediately declared tax hikes are dead on arrival, accusing the president of driving a political wedge in the electorate. >> i don't believe class warfare is leadership. you know, we can get into this tax the rich, tax the rich and it's not going to get our economy going again. it's not going to put people back to work. >> this is not class warfare. it's math. >> reporter: analysts say the president is making a populist pitch. >> i think the president is trying to have an ideological fight. i think he wants this to be about democrats defending and working for the little guy, the average american and republica

buffett rule? the touchstone of mr. obama's deficit cutting plan? that won't solve the problem, clinton said.onservative, thrilled, you can imagine. eric cantor saying, "i hope president obama will heed the advise of president clinton and drop his demand for one of the largest tax increases in american history." hold on. in an interview with cnn's wolf blitzer, clinton said he would support the millionaires tax and blachted republicans for their anti-tax any otherology. as for obama's jobs bill, clinton said he was all for it. this isn't the first time clinton has sent mixed messages that could derail a presidential campaign. hillary clinton, anyone? in south carolina the former president set off a firestorm of criticism for comments some considered racially insensitive. obama won that primary. gop strategist writes on the hill.com, slick willie does it again. now managed the fancy footwork of both agreeing and disagreeing with president obama at the same time. the white house is not commenting. the "talk back" question today, is bill clinton helping or hurting obama? facebook.com/americanmor

mr. clinton lays in on the warren buffett tax raising rates on america's wealthiest citizens, that and muchformer president of the united states, bill clinton. [ beeping ] ♪ hush, little baby ♪ don't you cry ♪ soon the sun ♪ is going to shine ♪ [ male announcer ] toyota presents the prius family. ♪ walk if i want, talk if i want ♪ [ male announcer ] there's the original one... the bigger one... the smaller one... and the one that plugs in. they're all a little different, just like us. [ jennifer ] and i'm jennifer northcutt. opening a restaurant is utterly terrifying. we lost well over half of our funding when everything took a big dip. i don't think anyone would open up a restaurant if they knew what that moment is like. ♪ day 1, everything happened at once. ♪ i don't know how long that day was. we went home and let it sink in what we had just done. [ laughs ] ♪ word of mouth is everything, and word of mouth today is online. it all goes back to the mom and pop business and building something from the heart, founded within a family. when i found out i was pregnant, daniel was working on our

buffett and president bill clinton as well. but republicans are calling it class warfare, even calling mr.ood, robbing from the rich to help the poor. also, fred, this amazing story from libya. journalists caught in the cross fire, leaving one of our producers injured and even though he's all right, there is an extraordinary twist to this story that happened when they reached the hospital. it even surprised some very seasoned journalists. we'll show you that story, take you to the middle of the war zone and death row inmate, troy davis, we'll talk about that case, i'll introduce you to the parole board and we'll talk evidence and talk chances because we know it happens, not long from now, on monday, the parole board meeting. >> clemency hearing on monday, scheduled execution wednesday. all right. we'll be listening and watching for your va-va vroom too. >> you could be on the red carpet any day. >> fred dresses like this inn hr sleep. >> go on. don, see you in a few minutes. thank you very much. >>> holiday season, right around the corner. and i'll show you some of the hottest video games

>> well, he was specifically talking about warren buffett, which warren buffett himself had said and i know that mrffet is not lying. and fact check also said that over 1400 millionaires pay zero. if they were each paying a million dollars that is over $435 million. we are also talking about what these millionaires claim. and when you are wealthy, with these tax loopholes, which the president is trying to get rid of, and which, by the way, speaker boehner and other republicans also agree with him on, these millionaires won't be able to hide their money in off-shore banks in kuwait, switzerland, buy turkish bonds, et cetera. they are paying taxes on money they claim to have earned and a lot of the money is hidden because they have very fancy accountants hide that money. megyn: let me give the viewers what the actual ap report says, leslie mentions the 1470 households had income taxes over a million and they paid no federal income tax according to the irs. that is less than 1% of the nearly 237,000 returns of folks who did have income taxes of higher than 1 million. the vast majority 99% and overpaid

because of that, president obama has put buffett's name on the new minimum tax rate for millionaires. republicans are already saying that mrrevenues the wrong way. >> what it does is it adds further instability to the system, more uncertainty and it punishes job creation and those people who create jobs. class war fare, chris, may make for really good politics but makes for rotten economics. >> the chairman of the house budget committee thinks raising taxes on the rich is a bad idea but he knows that it is not a into you idea because president obama has been pushing for them for a long time including at his big address to the joint session of congress earlier this month. >> right now warren buffett pays a lower tax rate than his secretary. an outrage he has asked us to fix. we need a tax code where everyone gets a fair shake. >> so warren buffett has really become the center piece of the sales pitch here and it is a pitch that democrats think is really going to work easily on most americans. >> i wonder if john boehner knows what it sounds like when continues to say the position of the republican party in america is that y

mr. obama is helping to pay for his new jobs plan and come monday morning your going to hear all about it when he announces details of the so-called buffett role, named after warren buffett. a tax on millionaires to make sure they don't pay a smaller percentage than the nation's middle class and as candy crawly reports there's already an uproar in washington. >> reporter: the president's plan to pay for his jobs program includes the idea of a millionaire minimum tax rate. at least as high as middle class rates. the administration calls it the buffett rule, for billionaire investor warren buffett. >> i have a lower tax rate, counting payroll taxes, than anybody in my office. >> reporter: it's catchy moniker, although republicans call it something else entire. >> i when you pick one area of the economy and say we're going to tax those people, it's class warfare. >> class warfare will simply divide this country more, divide people and it doesn't grow the economy. >> reporter: opposition to tax rates for the wealthy on a par with middle class rates is tricky politics. it sounds sane and only fair, certainly when put in the hands of master pol

buffett tax, and it's raising eyebrows among republicans. that discussion is coming up next. katoo to play all the hits of the '80's woman: hit it, mr.. ♪ ♪ take on me... ♪ ....take on me ♪ take me on... anncr: there's an easier way to save. get online. go to geico.com get a quote. 15 minutes could save you 15% or more on car insurance. i know what works differently than many other allergy medications. omnaris. omnaris, to the nose. did you know nasal symptoms like congestion can be caused by allergic inflammation? omnaris relieves your symptoms by fighting inflammation. side effects may include headache, nose bleed, and sore throat. got allergy symptoms out of my way. now life's a picnic. [ man ] omnaris. ask your doctor. battling nasal allergy symptoms? omnaris combats the cause. get omnaris for only $11 at omnaris.com. the world needs more energy. where's it going to come from? ♪ that's why right here, in australia, chevron is building one of the biggest natural gas projects in the world. enough power for a city the size of singapore for 50 years. what's it going to do to the planet? natural gas is the cleanest conventional fuel t

mr. defazio: well, i was initially very supportive of the president's proposed buffett taxed based on the premise that no millionaire or billionaire should pay a lower tax rate than a checkout clerk at the albertson's supermarket or a small business owner that only earns $40,000 a year. seemed fair to me. but then i started listening to the republican response. it's pretty heavy. it really gives you pause to think whether or not this is a good idea for our country. it's class warfare. it will hurt job creation. you know, these are arguments -- it won't raise money. these are arguments that is certainly very telling. in fact, i have some direct quotes from one representative. this is really the dr. kevorkian plan for our economy. it will kill jobs, kill businesses, yes, even kill the higher tax revenues. the suicidal tax increasers hope to gain. and another representative. class warfare may win political campaigns but it doesn't spur economic growth, raising the capital gains tax rate may garner political capital but it will not create any jobs. then finally, of course, when are we going t

buffett a lot. >> do they hate him? >> but i've been very critical of him because you will get millionaires and billionaires going, mr. pay more taxes. first of all, nobody is stopping them from paying more taxes and secondly, they have a fleet. and it's fine. it's their right. they have a fleet of lawyers and accountants and trust attorneys working around the clock to shelter their income. so they don't have to pay taxes. which is fine, that is your right as an american. but if you're going to work and your people are going to work around the clock to not pay taxes, please, don't come out at the same time going, hey, raise my taxes. knowing pat buchanan cynically that even if they raise the top rate to 39.6%, warren buffett will still be paying 18% of his income in taxes while people who make far, far, far less than him will be the ones stuck holding the tab. >> you know, it's -- i tend to think he's a bit of a hot dog, joe. i really want to pay more taxes and my secretary pays more than i do. why doesn't he pay her taxes and why doesn't he tell himself -- why doesn't he pay at the rate he could pay. pay at 35%. >> j

rich like warren buffett, quit fighting not to pay the billions of dwhrures already owe in taxes, just write the check. the speaker pro tempore: the gentleman's time has ex-peered. mr. gohmert: thank you. i think of people will read the president's bill they'll find out we need to pass the american jobs act that's on file with the house. that's my bill. the speaker pro tempore: the chair recognizes the gentleman from california, mr. herger, for five minutes. mr. herger: madam speaker, the 3% withholding provision which will come into effect if congress does not act essentially forces businesses that have contracts with the government to forgo 3% of their payments as a down payment under tax bill -- on their tax bill this represents yet another burden on our nation's small businesses and job creators. the life blood of our economy. as a small businessman i know firsthand about the negative impact of burdensome taxes and cumbersome regulations. many small businesses that contract with the government operate on very slim profit margins so a 3% tax would create serious cash flow problems for them at a time when so many are struggling. aside from that, this provision wi