Debt Commission Co-Chair Erskine Bowles Says Obama Told them "Everything is on the Table"; Includes Higher Taxes - Video 4/25/10
Here is video of Democrat Erskine Bowles on Fox News Sunday today where he said President Obama told him and former GOP Sen. Alan Simpson that, "Everything is on the table," as they do their work as Co-Chairs of his "bi-partisan Debt Commission," tasked with coming up with a report on how the solve the U.S. Debt problem.
Fox News' Chris Wallace had asked Bowles if tax increases were on the table in light of Obama's pledge during the 2008 Campaign that he would NOT raise taxes on anyone making less than $250,000 a year.
Bowles said both cuts in "sacred cow" programs, and "raising revenue" has to be on the table. He also said a Value Added Tax should be considered as a way to increase revenue.
Alan Simpson essentially said a VAT could not be added without doing something with the existing income tax structure.