they tell us that they are not undertaxed. they tell us that washington overspends. we have a government that claims to support a strong economy but urges tax increases that will weaken it. we hear speeches from some who want to expand employment but then attack employers. they argue for more access to credit but then assail the banks that would provide it. they call for more american energy but decry the very explorers who would find it. we need more straight talk and accountability. small businesses provide the most jobs, and we should reward them. inventors create new economies, and we should encourage them. many government programs fail in their objectives. sometimes for decades, and we should cancel them. we face mounting government debts. the way to pay these debts is to generate more jobs, creating more taxpayers who will provide additional revenue, not new federal job-killing taxes. given the views of our president and the economically liberal members of this senate, the legislation before us is the best deal that we can get. this legislation caps regular app

have promised things that we can't deliver on, and that's a mistake, but we're also in the process undertaxinghat i propose incidentally would not touch the taxes of 99.7%. i'm talking about 0.3 of 1%. >>> this is warren buffett saying that we need to stop coddling our super-rich, including himself. congresswoman, can't we really put pressure on the republicans in the chamber with you, when we hear even some of the super-rich saying, this is ridiculous? >> well, i agree with mr. buffett, and thank goodness there's one lone ranger out there calling people of conscience to task. i would ask the chairman of the ways and means commit aye, mr. camp, congressman camp of michigan, to invite mr. buffett, and frankly if the republicans won't do it, the democrats have means in the house to give mr. buffett and any of his colleagues from wall street who helped drive us into this situation we're in right now, along with the oil companies that raised prices over $6. that's why the market tanked in 2008. bring some of those individuals, and we will give them space, airspace to tell their story. i'm very pro

. >> we're also in the process undertaxing the very rich.hat i propose incidentally would not touch the taxes of 99.7%. i'm talking about three tenths of one percent of the american public. the people from $1 million and on should be asked to share in the sacrifice. >> president obama embraced the idea. republicans did not. senator john cornyn tweeted, for taxraising antics like warren buffett, i'm sure treasury would take a voluntary payment for deficit reduction, as in, hey, mr. buffet, just send the u.s. treasury a check. the red dog report says, everybody knows if tax hikes on the rich fails to solve our economic crisis, which we know they will not, then team obama can go back and ask for more, opening at door to a big tax hike on america's middle class. never mind poll showed most americans favor taxing the rich more and many economists say spending cuts alone won't solve our debt woes. sot "talk back" question today, is warren buffett's tax compromise good, or is it just politics? facebook.com/carolcnn. i'll read your comments later th

but we're also in the process undertaxing the very rich. what i propose, incidentally, would not touch the taxes of 99.7%. i'm talking about .03% of the american public. but the people from a million dollars up i think should be asked to share in a little sacrifice we're being asked to share in. >> rose: what's the formula you're looking? >> well, what really gives the low rates to the very rich like me is the low tax on dividends and capital gains. if you take these rich people that the i.r.s. singles out, from 1992, they've almost had a tenfold increase in capital gains. they've had a ten-fold increase in dividends. and those are taxed at 15% and there's no payroll tax on it. now, the payroll tax accounts for almost as much revenue to the government as the income tax. it's close. $800 billion plus on payroll taxes last year, about $900 billion on income taxes. that's where the money comes from in washington. and they don't get any payroll tax to speak of on any income. i've got my tax return he. (laughs) >> rose: we'll look at them in a m

south carolina and here she is taking on billionaire warren buffett for saying that he too, is undertaxed's bachmann. >> we also believe unlike warren buffett, that taxes are high enough already. now, the president's friend, warren buffett, just came out and said, all the billionaires should be paying more money. i have a suggestion. mr. buff ett, write a big check today. there's nothing you have to wait for. >> so there she was. michele bachmann in south carolina, here's rick perry. governor perry in iowa. you know, as we've told you, rick perry talks about god, he talks about jobs and he talks about the federal government. in particular, federal regulations. many of which he doesn't like. here's rick perry. >> what this country needs is jobs. they don't need symbolism. we need new jobs. we don't need new federal agencies. if you want to create jobs, don't create a new agency. solve all the unnecessary regulations that these agencies are already implementing and, frankly, out of control in some places. market the confidence that -- i think we should go into a six-month freeze of all fede

they tell us that they are not undertaxed. they tell us that washington overspends. we have a government that claims to support a strong economy but urges tax increases that will weaken it. we hear speeches from some who want to expand employment but then attack employers. they argue for more access to credit but then assail the banks that would provide it. they call for more american energy but decry the very explorers who would find it. we need more straight talk and accountability. small businesses provide the most jobs, and we should reward them. inventors create new economies, and we should encourage them. many government programs fail in their objectives. sometimes for decades, and we should cancel them. we face mounting government debts. the way to pay these debts is to generate more jobs, creating more taxpayers who will provide additional revenue, not new federal job-killing taxes. given the views of our president and the economically liberal members of this senate, the legislation before us is the best deal that we can get. this legislation caps regular app

they tell us that they are not undertaxed. they tell us that washington overspends. we have a government that claims to support a strong economy, but urges tax increases that will weaken it. we hear speeches from some who want to expand employment, but then attack employers. they argue for more access to credit, but then assail the banks that would provide it. they call for more american energy, but deprive the very explorers who would find it. we need more straight talk and accountability. small businesses provide the most jobs, and we should reward them. inventers create new economies, and we should encourage them. many government programs fail in their objectives, sometimes for decades, and we should cancel them. we face mounting government debts. the way to pay these debts is to generate more jobs, creating more taxpayers who will provide additional revenue, not new federal job killing taxes. given the views of our presidents and the economically liberal members of this senate, the legislation before us is the best deal that we can get. this legislation caps regu

>> we are also in the process undertaxing the very rich.taxes of 99.7%. i am talking about 0.3 of 1% of the american public but the people from a million dollars on up, i think, should be asked to sayer share in a little of the sacrifice. >> senator john cornyn tweeted. conservative blogs fired back. the red dog report, quote. never mind most polls show americans favor taxing the rich more and many economists say spending cuts alone will not solve our tax woes. here is our talkback question of the morning. >> i'd like to do a talkback. this blog you just quoted red, they said everybody knows increasing taxes won't solve our economic problems. two unrelayed matters. reducing debt and solve our tax problems is not as nearly connected as people think. we have deficits in a long time when we don't have economic problems. this is the mixing up of events that grets frustrated. >> debt forgs is a great portion of our economy and becomes dangerous. >> if you set the bar if you raise taxes and our economic problem is not solved that must mean raisin