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Government

Rep. Tom Price to MSNBC Host: Obama’s Proposed Tax Hike Would Cover Just Eight Days of Gov’t Spending

Nov. 27, 2012 6:20pm Jason Howerton

Rep. Tom Price: President Obamas Proposed Tax Hike Would Cover Just Eight Days of Govt Spending

U.S. Rep. Tom Price (R-GA) (Credit: Getty Images)

Appearing on MSNBC on Tuesday, Rep. Tom Price (R-Ga.) informed host Andrea Mitchell that President Barack Obama’s proposed tax hikes would only cover federal government spending for eight days.

Arguing for raising taxes on high income earners, Mitchell said “there are reliable studies that show you can’t cap enough deductions and level the playing field enough to raise the kind of revenue you need…We’re talking about a trillion and a half dollars here.”

Rep. Price then proceeded to break down the numbers.

“You know well, Andrea, that the president’s plan to increase taxes on the upper 2 percent covers the spending by this federal government not for eight years, not for eight months, not for eight weeks but for eight days. Eight days only,” he replied. “It’s not a real solution. So, again, I’m puzzled by an administration that seems to be more interested in raising tax rates than in gaining economic vitality.”

Obama’s tax plan is estimated to raised roughly $800 billion in additional tax revenue over the next 10 years.

Watch the clip via MSNBC below:

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Comments (63)

Iseethelight
Posted on November 27, 2012 at 11:06pm
Did anyone with knowledge of how the Dims function ever think for a second that this raising of the taxes was to ever be a solution? I knew all along this was nothing more than a tax grab and was not to be any kind of solution. In fact it will continue to get worse and worse as long as the Dims stay in power. As an article I read said the best run states are run by Reps and the worst by Dims. I bet that spending does NOT go down but in fact WILL go up again and the deficit will get bigger not smaller. Also I bet that the deficit does NOT get eliminated with the Dims in power but grows each year no matter how much the Dims raise taxes.

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- GETLIFE
  Posted on November 28, 2012 at 4:56am
  This has nothing to do with balancing the budget or raising revenu–
  and everything to do with corrupting the American psyche.
  Although this interview is a definite improvement, the Republican talking points fall short of explaining just why the WH keeps insisting on doing something it knows will be ineffective or even harmful to the economy.
  
  The WH wants people to believe that the rich could actually solve something by paying more. They want to permanantly install mistrust, jealousy, and greed in the American middle class.
  They are consciously corrupting the American psyche.
  Where before the middle class treasured freedom and opportunity, they will now develop a more criminal mentality– “that guy has more than I do, he doesn’t deserve it, I can take some.”
  
  They know the tax/budget/deficit numbers. They know what they are doing.
  
  I have spent a lot of time in a socialist country.
  Everything everything everything is about money.
  Everybody’s counting all of the time,
  figuring out how to get the most out of the system.
  People are obsessed with the “government’s” money. They feel from the inside out that opportunity is limited, and the best thing to do is get a prized state-payed job, whether you like it or not, and suck as much of the taxpaying rich “capitalists’ ” money out of the system as possible.
  Its a strange irony that socialism produces a society so obsessed with money….
  
  Report this comment
- November28
  Posted on November 28, 2012 at 5:51am
  This is the real shame, people actually believe that the Dems would use any tax increase to pay down the deficiet. Read fresh political commentary at: http://smallcraftadvisorychronicles.blogspot.com/
  
  Report this comment
- MONICNE
  Posted on November 28, 2012 at 5:59am
  Math states every penny counts.
  
  Every penny saved cancels a penny wasted, and eventually pays the debt.
  
  MATH, food of champions!
  
  Report this comment
- JoeBloe
  Posted on November 28, 2012 at 3:01pm
  @MONICNE:
  
  “Math states every penny counts.
  
  Every penny saved cancels a penny wasted, and eventually pays the debt.
  
  MATH, food of champions!”
  
  ooooo….you were SO close…..
  
  That “and eventually pays the debt.” part is where you failed math. Every penny counts? Yes. Every penny saved cancels a penny wasted? Yes. But, and here’ the math thing, if your debt is a dollar and you save 2 cents, your debt is still 98 cents. Your savings does not “eventually pay the debt”.
  
  It isn’t magic, it IS math as you pointed out.
  
  Increase taxes on the wealthiest 2% (those who make over $250,000) will only RUN the government for 8 days. How’s THAT for math?
  
  What if we CONFISCATED every single penny that same 2% have? Not TAX what they make….TAKE ALL OF THEIR WEALTH (Houses, investments, etc…..guess what? Here’s that pesky math thing again, you could maybe pay the deficit for one year. ONE.
  
  What about the very next year? The government would have to NOT SPEND any more than it took in to balance the budget. But we are running 1 TRILLION dollar deficts EVERY YEAR. Since we just wiped out the wealthy, who’s going to pay for that now?
  
  This discussion is all about math and the federal government doesn’t want to admit math even exists. The government spends more money than it makes and needs to stop.
  
  Report this comment
- MONICNE
  Posted on November 28, 2012 at 8:22pm
  @Jobe low
  
  I am in the 2 percent and my family will be quite fine with the minuscule Bush expiration raise of 4 percent of every dollar OVER $250,000 goes into effect. Eight days is five percent closer to deficit reduction. Yes that is Math at work.
  
  I am a tough and wizened Nam Vet who has lived through real trouble by working the mission as a unified team. I pity you selfish whiners who would see our union fail to satisfy your internal hate for fellow man. I am extremely sorry for those of you who follow un-American trolls. What are you?
  
  Please Support the Education Center at THE WALL.
  
  Report this comment
Major Flynt
Posted on November 27, 2012 at 10:46pm
The global wealth tax will be the next Obama agenda right after signing a UN arms treaty to take away our guns. Then it will be one unstoppable socialist policy in affect after the other until there is nothing left to control or confiscate from people.

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oxycontinxx
Posted on November 27, 2012 at 9:14pm
the tax hike would only cover 8 days of government ops………………

ok…………..either obama doesnt know that or his idealogue mentality is showing (rich pay fair share)……………..

my bet………………the latter.

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brtmchl30
Posted on November 27, 2012 at 9:14pm
Why exactly is this up to the Repubs. The big O won, he said he had a plan, the Senate is still in control of the Senate. Obama has increased the debt by over 6 tril. Why are the republicans at fault other than the fact that dems always blame them. Its not Bush’s fault anymore its thr republicans in the house. Get serious, taxes arent the answer its spending stupid. Repubs should hold out until dems actually put something on the table first. They own this.

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SilentReader
Posted on November 27, 2012 at 8:00pm
Let’s face it. This globalist Thief-in-Chief in the White House is not interested in policies that would cut the deficit or energize the American people into creating more wealth. He’s only interested in destroying America and fundamentally transforming it into the mediocrity that is Socialist Europe run by the corrupt monstrosity that they call the EU.

The guy’s a traitor to everything America stands for! Which is limited government and free enterprise which energizes the people into creating wealth which in turn enables a free people to be independent of big tyrannical government. And death by government where it will surely lead.

Things will only get alot worse with these criminals in the government who have demonstrated their criminality in Fast and Furious and in Benghazi where they let four Americans die without lifting a finger to help them and where they were arming the vile al Qaeda and Muslim Brotherhood enemy in Libya, Syria, Egypt and Jordan. They’re still arming them because there is no one in the criminal MSM scrutinizing these criminals. Clinton-NATO did it before in Bosnia.

Criminals who get away with their crimes are waiting to commit new ones. And, believe me, in this second term Obama et al won’t care one bit what we think, not that they did before, because they will be holding all the cards.

Oh no. We haven’t seen the Obama Nation yet. The fires of Hell is just over the horizon. And the Gimme people still have their hands out.

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- oxycontinxx
  Posted on November 27, 2012 at 9:17pm
  and thats why good, hard working, honest americans own ak47s, ar15s and LOTS of AMMO.
  
  i will turn back the gimme people to the fires of hell if/when they try to invade my space.
  
  Report this comment
- Pantloadian
  Posted on November 27, 2012 at 11:50pm
  OXY . . .you’re easy to sleep to.
  
  Report this comment
- Questionman
  Posted on November 28, 2012 at 6:19pm
  I was right! It’s obvious you racists are NO Americans, just racists to the core and your and hate speech is proof of that! What’s obvious is that you hate having a intelligent black man as President. That is a fact!
  
  America is tired of all the hate and fear spread by the modern day “know-nothing party” and their obstructive ways in Congress that cost America’s credit rating to be down-graded for the first time in our history and thus cost the taxpayer hundreds of billions of dollars in added interest just because they were stupidly talking openly about letting America default on it’s debt for the first time in our history.
  
  None of that about Obama is true. The right wing hate Obama so much, they are making up all kinds of untrue things.
  
  if he was a Marxist he would have nationalized most industries and taken down the corporations as well as filling the gap between rich and poor. He didn’t!
  
  If he was a communist, he would’ve abolished the private sector. He didn’t!
  
  He is not a traitor to America. If anything he’s a traitor to Progress and Liberalism by pandering to the racist conservatives.
  
  And that’s why you racists lost the election. We, Americans, do not want to give power to you as President Obama’s first term taught that god forbid Romney won, you weren’t gonna make Americans, just whites, Christians and republicans only!
  
  Report this comment
Chet Hempstead
Posted on November 27, 2012 at 7:49pm
Eight days? Fine, it’s a start. Those are eight days we have to pay for somehow. Taking back the tax cuts we gave to people who never used any of that extra money to create jobs for Americans and letting the pay the same amount of tax they did for fifty years before that, when the economy was consistently in better shape than it’s been since we cut their taxes must be the first step.

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- Beachmastermax
  Posted on November 27, 2012 at 7:58pm
  The rich, keeping their money does not employ people? What do you think the rich do with their money? Come on Chet, try to give me an example of what they can do with their money that will not employ people. You have no idea how money works or what it actually is.
  
  Report this comment
- liesnomore
  Posted on November 27, 2012 at 8:08pm
  So tell us Chet- Just what are you willing to kick in- It’s a start- how utterly absurd- you support a guy who TOLD YOU he would cut the deficit IN HALF his first term- he has increased it 6 TRILLION dollars with no end in sight. He has ZERO credibility in economic forcasting.
  The truth ishe has no interest in fiscal stability- he just wants to raise taxes becuse he thinks “you didn’t build that” and he just wants to spread it around (Joe the plumber) and some aren’t paying thier “fair share”
  
  BTW- i am betting you don’t know how many zeros are in a trillion
  
  Report this comment
- therealconservative
  Posted on November 27, 2012 at 8:11pm
  @chet
  
  So you won’t mind if, next your asked to pay your “Fair Share”.
  
  Report this comment
- therealconservative
  Posted on November 27, 2012 at 8:58pm
  Guess Chet is trying to figure out his “Fair Share”
  
  Report this comment
- Major Flynt
  Posted on November 27, 2012 at 10:41pm
  Taking other people’s money for what purpose? The government can spend it better than them. is that what you seriously are trying to sell us here? Raise taxes just to raise taxes when it does not even come close to fixing anything. That is all Obama is doing just because it sounds good to these liberal idiots
  
  Report this comment
- SCREW-WINDOWS
  Posted on November 28, 2012 at 12:25am
  A rich persons main job is to spend their money so the government doesn’t get it.
  
  Report this comment
- Chet Hempstead
  Posted on November 28, 2012 at 12:49am
  Beachmastermax
  “Come on Chet, try to give me an example of what they can do with their money that will not employ people.”
  
  That’s easy, they keep it, unlike the real job creators, poor people, who have to spend every cent they get. We know that the rich keeping their money doesn’t create jobs, because we’ve been trying it and it obviously doesn’t work.
  
  Report this comment
- Chet Hempstead
  Posted on November 28, 2012 at 12:58am
  The money we take from the rich isn’t really their money. The percent of wealth held by the rich has been steadily growing. The gap between the upper and middle class has been steadily growing. It’s not because the rest of us have gotten lazy – worker productivity has increased without any increase in wages. I’m not against people being rewarded for being smart and working hard, but nobody is ten or a hundred times as smart as me, and nobody can work ten or a hundred times as hard. Anybody who makes that much money makes most of it by preventing somebody else from getting as much as they should, so there’s nothing wrong with taking most of it from them and using it to help the rest of us who should have been getting it in the first place.
  
  Report this comment
- Capitalist Mama
  Posted on November 28, 2012 at 6:44am
  “Anybody who makes that much money makes most of it by preventing somebody else from getting as much as they should, so there’s nothing wrong with taking most of it from them and using it to help the rest of us who should have been getting it in the first place.”
  
  That is complete and utter nonsense. Since the Industrial Revolution, it is easier to produce more with less, creating profits and allowing the last two hundred years of innovation to happen. You obviously have never studied history. You make what you earn, and if you could make more, you would. No one is taking anything from workers- you are free to find better employment where you can, ask for a raise, or start your company.
  
  If you actually believe the tripe you just spouted, you need a quick trip to the Old USSR. Go talk to a Russian for a while.
  
  Report this comment
- IAMMADDOG
  Posted on November 28, 2012 at 9:17am
  Chet you need to go back to school. A private one not a liberal indoctrinating public craphole. Learn some economics or be forever stupid.
  
  Report this comment
- Beachmastermax
  Posted on November 28, 2012 at 2:35pm
  That’s your answer? “That’s easy, they (rich) keep it,” You have to be kidding me.
  
  Where do they keep it Chett? In a bank? Where a Banker takes it and lends it to your neighbor to buy a home? A home that has to be built by workers?
  
  Your pitiful. Admit it. You covet. You vote to steal. And I am sure you will vote to murder in the end.
  
  Report this comment
Stelex
Posted on November 27, 2012 at 7:49pm
Its all moot at this time, there is no reducing the debt, there is no compromise that will fix things. People just don’t get how in debt we are…..the numbers I mind numbing. To most they are just words. This train is gonna crash and crash hard…….just a matter of when. 16Trillion, no…..not quite. With all liabilities its anywhere from 87trillion to 250trillion. Depending on your source. And they aren’t even talking about reducing the debt, just the decifit. That just slows down the debt. Our “Leaders” have screwed us and we just keep taking it. No more money should go to Washington.

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- TurboCat
  Posted on November 28, 2012 at 3:40am
  @CHET: Are you nuts? Or are you just ignorant?
  
  Report this comment
undrprsr
Posted on November 27, 2012 at 7:30pm
Would like to see the Repub’s propose a bill that taxes the ‘ultra rich’ as Warren Buffet put it at 100% of Wealth over say 5 or 10 million(not income) and lets see how many Hollywood types and Buffet,Gates,Soros think of that. Both Gates,Buffet leave there wealth too “Charities” not the Government in their wills,Why? Because they know Government will squander it!

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FISH_BONE
Posted on November 27, 2012 at 7:23pm
Andrea Mitchell – the female version of Joe Biden. Intellectually questionable at best.

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Beachmastermax
Posted on November 27, 2012 at 7:19pm
When integrating the military with women, just before they did it with homosexuals and jihadist, I reccommended a solution to the GOP to do the following: No more cherry picking. If women wqant to be in the military on an equal basis then put forward legislation that would require they register for the draft and have the same choices as men. Which are, in the end, no choices at all.

I believe that this would have woke women up to the reality of where this feminist strategy would ultimately end and liberal legislation would be defeated.

Likewise, I think it is time for the GOP to go nuclear on this issue. Be democrats on steroids. Whatever BHO is demanding, demand twice as much or more. Tax the rich 80%, especially hollywood. Make it obvious that the Democrat thinking is utopian and that if we are going to go that way…let’s crash it now. No more *****-footing around.

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- SCREW-WINDOWS
  Posted on November 27, 2012 at 7:27pm
  To some logic is not as clear as experience.
  
  Report this comment
- therealconservative
  Posted on November 27, 2012 at 7:34pm
  @beach
  
  “put forward legislation that would require they register for the draft”
  
  Dick Cheney said the same thing when this issue came up during the Gulf War.
  
  Report this comment
- undrprsr
  Posted on November 27, 2012 at 7:39pm
  Good start,but make sure Hollywood “pays” everyone “fair” everybody gets paid the same on the set,from cast- cameraman-water boy,whatever their job,as well as residuals on TV,plus add a $20 surcharge tax on movie tickets.Net profits get split among all workers involved in the making of the film.
  
  Report this comment
environmentalandawake
Posted on November 27, 2012 at 7:16pm
They will just take the 8 days worth and spend it elsewhere. They never try to fix the bottom line, and that is why we should be very afraid!!!!

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- SCREW-WINDOWS
  Posted on November 27, 2012 at 7:34pm
  Only when their paychecks stop will they get serious.
  
  Report this comment
jmmjr49er
Posted on November 27, 2012 at 7:03pm
That MSM is married to Alan Greenspan. She has no idea what Rep. Price is saying about spending. She is rich and should cut a check. She is a winner in Life’s Lottery.

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progressiveslayer
Posted on November 27, 2012 at 7:02pm
Try telling that to a typical simpleton Obama worshiper congressman and you’ll get the dear in the headlights response.

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singray
Posted on November 27, 2012 at 6:54pm
Ithink that the Conservatives need to sacrafice aliitle now. I say we let Obama have the ball he’s be avoiding running with since taking over the starting job. You see I believe they are trying to delay, maybe as long as the Midterm Elections. Lets give him the tax increases. Lets give them the cuts too. Someone would scream in Obama’s ear, don’t do it. Let the Republicans help. We need someone to blame.
So as I say. Give them the ball. I know that we all lose because of it. But how else can we show his and his parties agenda is not starter material. Nobody likes losing now do they. And the more we convince them that we need new starters, the better our chances at finally becoming a winner again

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- BHOHG2G
  Posted on November 27, 2012 at 7:36pm
  I feel the same way. You can’t change the minds of Dims. So, like trying to give good advice to a child which is rejected. Let them run the bus off the cliff. It sucks, I know. But like children, if you interfere then you are to blame when things don’t turn out the way they wanted. And these people ARE spoiled children. This whole tax thing is just a “FEELGOOD ” to pacify the ignorant and stupid.
  
  Report this comment
- SHASTADIANE1
  Posted on November 27, 2012 at 7:36pm
  SINGRAY, I tend to agree with you. I have been saying this for the last year. Let him have his way and then let him fall. I am only afraid, that he will take us all with him. Ya know?
  
  Report this comment
cloudsofwar
Posted on November 27, 2012 at 6:48pm
this news is making me sick. obama is coming for our wealth(our savings). make no mistake obama is a marxist. congress better stand against him and we better do our part in 2014 and keep the house and get the senate OR ELSE WE LOSE.

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MONICNE
Posted on November 27, 2012 at 6:44pm
Grew up saving pennies in a jar, every little bit counts. Helped out Mom & Dad making the bills a few times as they raised ten of us kids. Got together a time or two in the past 60 years to help out family debt issues, no questions asked. Never had a single one of us and our grandchildren on food stamps.

Never felt like a little bit of help was unneeded or unhelpful. Always got back more than what I gave.

Please, please, please. THANK A VET.

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papatom48
Posted on November 27, 2012 at 6:44pm
And it’s not bad enough that it would only cover 8 days of spending, but the government never, repeat NEVER gets all the revenue they claim the increase will raise. If you were one of the targeted folks, would you leave you leave yourself open for more confiscation of your hard earned money the next year??? So even if they get some the first year, they won’t get it the next.

This is about class warfare and dividing the country. Even the moron Obama knows this tax hike won’t raise enough money to pay for all his spending. Then he will sadly, reluctantly, like CLinton, raise taxes on everyone. And the spending cuts….what spending cuts??? The evilcrats never cut the spending after revenue goes up.

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- cloudsofwar
  Posted on November 27, 2012 at 6:51pm
  you get it. hold onto your savings thats next. GOD help us.
  
  Report this comment
- BHOHG2G
  Posted on November 27, 2012 at 7:42pm
  Something I think is strange is when 0 wants to take money from the so called rich, he and the other loonies think that the “rich” will just sit on their hands and not defend their money. That’s how deep the DIMWITS think.
  
  Report this comment
Chromo200
Posted on November 27, 2012 at 6:43pm
This has been said over and over but the Obama zombies won’t believe it. Even if they did it is that apart of greed they have inherently built in. They want something for nothing by scr$wing someone else. This is all a symbolism by the Administration. Obama knows no one will believe the republicans and the MSM will be on Obama’s side. You know who will be paying this extra tax, you and me. It will not be Warren Buffet, Bruce Springsteen, Bill Gates, George Clooney, Tom Hanks, Jay-Z ,and many others who will be paying any extra tax.

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lel2007
Posted on November 27, 2012 at 6:42pm
So, how many day do we get if we kill the “rich”, take all their money. then eat them?

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- SCREW-WINDOWS
  Posted on November 27, 2012 at 7:21pm
  Depends on the preparation do you want steaks or stretch it into a stew or soup.
  
  Report this comment
- Psychosis
  Posted on November 27, 2012 at 7:54pm
  one year…………minus a few weeks
  
  and then what do you do next year ????
  
  Report this comment
Sgt_Rock
Posted on November 27, 2012 at 6:38pm
Rep. Price nailed it. Unfortunately no one watches MSNBC, so no one is going to hear the message.

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SCREW-WINDOWS
Posted on November 27, 2012 at 6:36pm
Once again “JOBS” take a back seat whats up next Oh yea immigration when will Mr President get to jobs probably never having a job is not high on their priority list because they have a job.

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What the Heck
Posted on November 27, 2012 at 6:35pm
I understand that, but the ignorant takers do no!.Give them a phone, rant how bad the rich are and that is all they understand.
Obama out now I bet stirring up the masses against the “Rich” . He is the worst president ever. Not trying to unite and find a REAL soulution, just division.

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TJexcite
Posted on November 27, 2012 at 6:33pm
Just watching that video that is 50 seconds long, the Federal government spent about 2.4 million dollars on something.

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Gonzo
Posted on November 27, 2012 at 6:32pm
Tom Price is a good man. We need more like him.

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- The-Monk
  Posted on November 27, 2012 at 6:43pm
  I didn’t recognize you at first…. : )
  
  Report this comment
- RJJinGadsden
  Posted on November 27, 2012 at 7:07pm
  GONZO, You going to the game Saturday since its right there in your neighborhood?
  
  Report this comment
- RJJinGadsden
  Posted on November 27, 2012 at 7:08pm
  Oops, forgot to say Hi MONK. I did say something to our most recent troll on the Fluke story after all.
  
  Report this comment
- The-Monk
  Posted on November 27, 2012 at 7:21pm
  Hi RJJ,
  
  OK, you guys are messing with my eyes…. LOL
  
  Report this comment
- RJJinGadsden
  Posted on November 27, 2012 at 7:41pm
  Hi MONK, not to worry. I’ll change mine back either Saturday night after the game or Sunday morning. Looks like GONZO and I will be rooting against each other…..at least just Saturday.
  GONZ, I’ll keep it friendly.
  
  Report this comment
Larry E
Posted on November 27, 2012 at 6:25pm
It doesn’t matter if it’s pointless, Obama has to make his legions happy by thinking he’s solved the problems they might have in getting “free stuff”. And Andrea is too immensely stupid to understand that.

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