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Published on Dec 4, 2012
Dr. Coburn discusses fiscal cliff options with guest host Soledad O'Brien, including Speaker Boehner's letter to President Obama, which Dr. Coburn describes as a compromise on taxes, mandatory spending, and discretionary spending. Dr. Coburn explains how closing loopholes and limiting deductions for the wealthy can result in the same amount of revenue as raising top tax rates, which unlike raising rates, would not destroy the growth of people who will create additional revenues in the future. "How you do it will have a major impact on economic fortunes of this country," because increased tax rates will "markedly decrease job creation and capital formation in this country," said Dr. Coburn.