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


"It's not a real solution."

WASHINGTON, DC - MARCH 26: House Republican Policy Committee Chairman Tom Price (R-GA) and members of the committee hold a news conference on the first day of the oral arguments in the Supreme Court on the constitutionality of the Patient Protection and Affordable Care Act March 26, 2012 in Washington, DC. The policy committee members were uniform in their criticism of the health care act and said they would continue to work for its repeal even if the Supreme Court found it constitutional. Credit: Getty Images North America

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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(H/T: WFB)

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