Rep. Lankford: Dems Floating Same Old Budget Deal

Congressman says he will vote no to increasing revenues by raising taxes.
3:00 | 10/27/11

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Transcript for Rep. Lankford: Dems Floating Same Old Budget Deal
We've got somebody here on top line right now He -- a little bit about how Republicans would support. -- democratic proposal will go now to Capitol Hill where we've got congressman James Lankford from the great state. Of Oklahoma congressman's democratic proposal it's it's three trillion dollars one point three trillion dollar -- -- -- new revenue but it -- have three trillion in deficit reduction sounds like a great deal right. But sounds like the exact same deal they floated in July that was shot down is what it sounds like -- I think they're floating in just for the politics -- it. Because it sounds good to say hey. We're into deficit reduction as well but it sounds like the exact same deal that was floated before -- started -- downside -- -- it's a serious proposal. I'm glad to seek under the table but I think it's just a red Herring coming out from conversation point we'll see the real proposals coming in about two weeks. And as we wait for those congressman how optimistic are you that they committees actually gonna reach a deal on this. Are really I really do think there's the -- being very serious about I think they're gonna come out with something. I feel like they have an obligation to come out with something on it. That's passing through the house and through the senate which are obviously very divided perspective on that we'll see of -- three. But we'll wait and see what it is nom -- holding what I'm holding up outer drive this point to say I'm optimistic as always am illustrated Don. Could consume do you -- see yourself certainly don't you don't want to vote for any increased revenue but. You know it take to save the country to cut down on the deficit what would you vote for increased revenue can you see yourself ever doing. -- -- -- Say this. -- producers of that one is. Is that I've yet to hear anyone say the federal government's running so efficiently right now the last thing we have left. Is to raise taxes because we're so efficient every editor we have nowhere else to say. -- I just find that laughable -- so many areas the federal government that we can Begin to cut back in a look at and say let's find our efficiencies first. The second thing is this has been done twice before in the 1980s we're gonna do three to one in the 1990s were -- 31. 33 dollars and spending reductions of one dollar tax increases what happened in both those laws taxes increase by the dollar the spending never came down. So I I think -- just a red -- be able throughout their quite frankly to say let's do this again. It didn't work the last two times -- -- the good work this time we've got to get serious about her spending. Citizen has enough. I would take that as a no that's right now there are ways to increase revenue. Use -- deal was all the loopholes there is very common agreement. I'm doing all loopholes and be able deferred some of that -- we feel like that encourages more people -- they would get involved and to do things a clear example that's the repatriation of dollars. If we allow international companies to be able to bring their dollars and they've earned overseas back to the United States. That's can inject about half a trillion dollars. Back into the American economy including increased tax revenue that comes in. That is a simple way to do it and it doesn't increase tax rates on anyone but does increase tax revenue so there are ways increased tax revenue I'm very supportive of but just not the rates. Congressman yesterday your colleague Paul Ryan and who sits on the Budget Committee with -- -- and chairs the Budget Committee had. Blow off some steam. At President Obama against -- scathing reviews said. Quote He is -- on the emotions of fear envy and resentment in his recent campaign. Do you agree with -- I think it's really frustrating -- -- That the I do agree you go back 34 years ago it was hoped it was changed it was an optimistic tone. And now it's a very pessimistic tone of your traps. Those wealthy people down the street that have the corporate jet. And run oil company they're suppressing -- they're keeping you from going into the next to grieve for the next class what -- north called the next income level. And so if we would just take care of every guy down the street let's him go down there -- their pitchforks and get -- stuff and everything will be right America and I think it just -- completely the wrong tone. This is okay okay editors aren't just there -- people have moved around. But there's a CBO report that came out yesterday showed me in -- top 1% has grown and incoming think 275%. Since. The seventies the rest of the country and 99% of Americans and only ground. You know a fraction of that amount -- is -- cause for concern about me you know not just class warfare -- on the other side the class system being created. Did well -- I don't think there's a class system that has -- incriminated caste system like you have in India. You wanna go to CBO report -- also -- CBO report that tracks the amount that that top 1%. Has paid by percentage. And taxes in New York from nineteen sitting on all way to the president and it is gone up every single year. So the 1% is paying a higher percentage of GDP in taxes now than they were thirty years ago when He years ago ten years ago so that has also increased on it. So that war where people are saying the top one person is not paying their fair share. I'm not in the top 1% I can't hear you say what they're paying -- nothing I can save for GDP. They are paying a higher percentage now -- there were five -- good seniors good when He hears a thirty years ago. Congressman real quickly got thirty seconds left want to get -- taken between twelfth horse race. Mitt -- -- A lot of polls there in the early primary caucus states is this Mitt Romney's race to lose. They he's been one slow and steady only through this I think everybody still as an option. He has been no one has been calm to the entire thing lots of things that are going on around him He just seems to be running -- game planning going through the process on it. But I don't think it's anyone's to lose at this point -- is everyone's to win because I still think. It is wide open which makes -- a very interesting race -- reporter there saying this is still. For those of us like you are and no one and all of us here they're tracking the race it's a very interesting race because we really do still have a race and it's getting very close to initial primaries. Congressman Langford thanks so much right on cue what will we'll see again oh in the super committee comes back.

This transcript has been automatically generated and may not be 100% accurate.

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