"Face the Nation" transcripts November 11, 2012: Sen. Graham, David Axelrod
BOB SCHIEFFER: Creation, maybe we need some creationism here-- create some new ways to do things.
JOHN DICKERSON: It would be nice if the evolution brought a new species to Washington and get something done. The-- what would be interesting about a deal in-- in which the President said, okay, we're not going to raise rates it's that he said he will be able-- remember in 2010 after the election the President worked out a deal with congress, and he-- he extended the Bush-era tax cuts, but he got a lot of things that liberals wanted. So he gave in on his big thing, which was that this top rate would have to go up but he also got stuff that liberals wanted. That kind of a deal could work out here. If he says we get revenue, we don't raise the rate but he can say look at all these good things I got. That's a kind of a template for how this might work out.
PEGGY NOONAN: And through tax reform they would also be making our impossible, ridiculous tax code more coherent, more efficient, more helpful, which a lot of people would like.
DEE DEE MYERS: Very successful in 1986 when they lowered rates, limited deductions--
PEGGY NOONAN: It's certainly gross. And Republicans, in fairness, Republicans have been saying for a long time do tax reform, not just a tax hike, do the reform. The rich will pay more if you put a cap of, say, fifty thousand dollars on what they can write off each year. You can work it out.
DAVID GERGEN: Do you think-- my sense is, Peggy, that the President is right if he establishes two principles (a) we have to have more revenue. I think more Republicans are coming around to that. And (b) the rich need to pay a higher proportion. How you get there is-- is a question. But those are the basic principles.
PEGGY NOONAN: But how you-- yeah.
BOB SCHIEFFER: Does anybody think--
PEGGY NOONAN: But how you get there is very meaningful.
DAVID GERGEN: Yeah.
PEGGY NOONAN: One way would be very hard for Republicans; another way would be much more acceptable.
DAVID GERGEN: Exactly. I totally agree.
PEGGY NOONAN: Indeed, many Republicans have been pushing it.
DAVID GERGEN: I agree with you.
JOHN DICKERSON: And-- just back to David's point, you have to figure out the shape of the animal on entitlements.
DEE DEE MYERS: Right.
JOHN DICKERSON: What that compromise is--
DEE DEE MYERS: Yeah, we've forgotten that.
JOHN DICKERSON: --and-- and we're all going to forget the rhetoric of the campaign by the way, where it used to be, if you touched Medicare, you were terrible and horrible. Now everybody's going to be finding a way to--
PEGGY NOONAN: Absolutely.
DEE DEE MYERS: And by the way, there is this whole other question of-- of the sequester, right, which takes effect beginning in January. And so you have to deal with that in the lame duck as well. You have to come up with some kind of a down payment--
DAVID GERGEN: You got to find some way to-- yeah, that's right.
DEE DEE MYERS: --right on those hundred and ten billion dollars in-- in cuts that will take effect in the coming year if something's done.
DAVID GERGEN: Sounds like a lot of fees.
PEGGY NOONAN: Can I have a dream?
DEE DEE MYERS: Yeah.
BOB SCHIEFFER: I will let Peggy have the last word.
PEGGY NOONAN: My dream is that after this election, two things that are a little surprising will happen. One is that the President's approach will be newly magnanimous and eager to make sound history quickly. It will add to his legacy. It will be helpful to the American people. And the Republicans on the other hand will be newly sober and thoughtful and brave and Republican leaders in Washington will come forward and say this isn't a perfect deal but it's a good deal. Move forward.
BOB SCHIEFFER: All right. I'm sure you were right. You got it right.
PEGGY NOONAN: I know. Beautiful. You never know.
BOB SCHIEFFER: You got it right. We're going to be back with this week's FACE THE NATION Flashback in a minute. Thank you all of you.
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