this week, pat toomey, club for growth republican, proposed an increase in tax revenues. i am trying to explain that if you are a republican and conservative, you can propose raising revenues as long as the marginal rates stay the same and go down. the way that you square that is by eliminating loopholes, which is what he proposed. this is not history, it is not hypothetical here it is real. the democrats have said now. >> club for growth is what pat toomey -- >> i retract and amend -- rome with the people who spoke about scarcity. >> i'm wondering if we're done with the capitals. >> grover norquist acknowledged this was a ploy on the part of the republicans. two facts that ought to be borne in mind. we are paying 15% of gross domestic product in taxes. that is the lowest percentage in 60 years. 60 years ago, there was no medicare. 60 years ago, there was no medicaid. 60 years ago, there were no cost-of-living increases under social security did 60 years ago, we did not have a $700 billion defense budget. the reality is that anybody -- no rational person believes that we

they oppose simpson-bowles -- >> portman and toomey have proposed it. tax revenues. >> insufficient revenues. what matters is revenues. the only thing -- >> if you strip away all the loopholes, which is what simpson-bowles did, you still needed to have some tax increases. >> exactly right. >> you cannot do it just by getting rid of loopholes. >> i have rarely encountered such thickness. i told you eight times that these two were all the kids have proposed it, and you're telling me we have to have x -- for revenues -- to double republicans proposed it, you telling me not to have extra revenues. -- we have to have extra revenues. >> $300 billion over 10 years is what pat toomey is proposing in his loophole-closing initiative. that is $30 billion a year. we're talking about four trillion dollars over 10 years if we are going to make a dent in this. even with the sequestered now, that is the amount that will come in to be cut if there is no agreement. >> let me say this in closing -- i wish to the super committee could agree on things the way we do here. se

grover norquist said this of t toomey plan. he called it unicorn and he laughed and said unicorns don't exist. the toomey plan doesn't exist on paper. list an idea. i was athe meeting when it was out there. we got excited. we said maybe this is a way to get something done. so we went to see -- we had the numbers looked at from joint tax commit city. and guess at we came back with? it is regressive. itis regressive and reaches down into middle america, and requires them. listen, now even if you strictly limit -- if u strictly limit theeductions the way that senator toomey suggested. you don't get enough money, david. you can't get to a 28% which loses you a huge amount of revenue, and wind up with the moneyou need to fill the gap. this is the most important thing of all, the toomey plan is the still resultsn the biggest tax cut sce the great depression. it would be the biggest tax cut since calvin coolidge and we all know how that turned out. now we didn't come here to do another tax t to the wealthiest people while we're asked

grover norquist said this of the toomey plan. he called it a unicorn and he laughed and said, as you know, unicorns don't exist. the toomey plan doesn't exist on paper. it's an idea. i was at the meeting when it was out there. we got excited. we said maybe this is a way to get something done. we actually went to cbo. we had the numbers looked at from joint tax committee. and guess what we came back with? it is regressive. it is regressive and reaches down into middle america, and requires them. listen, now even if you strictly limit -- if you strictly limit the deductions the way that senator toomey suggested. you don't get enough money, david. you can't get to a 28% which loses you a huge amount of revenue, and wind up with the money you need to be able to fill the gap. this is the most important thing of all, the toomey plan is the still results in the biggest tax cut since the great depression. it would be the biggest tax cut since calvin coolidge and we all know how that turned out. now we didn't come here to do another tax c

first republican senator pat toomey who offered a compromise . senator toomey welcome back to fox news. >> guest: thanks for having me . >> chris: where do things stand 10 days out? what do you think of the realistic chances of making a deal by wednesday? >> guest: the clock is running out. we have no time to waste. i stay here this weekend as most of my colleagues did and we'll continue the various discussions. i intend it work hard as i can. >> chris: where would you say the talks are right now. >> guest: it is a difficult point. we have a ways to go. >> chris: what are the stakes if you fail to make a deal and on december 23rd. automatic triggers come in. what is the impact on the markets and economy and u.s. credit rating? >> guest: i think there will be further erosion of what little confidence that -- of our government. this is an attempt to try to make important progress. it would only be the first of many steps . we have dug a deep hole for ourselves. it is important to be successful. >> chris: you offered a plan that breaks with the repu

grover norquist said this of the toomey plan. he called it a unicorn and he laughed and said unicorns don't exist. the toomey plan doesn't exist on paper. list an idea. i was at the meeting when it was out there. we got excited. we said maybe this is a way to get something done. so we went to see -- we had the numbers looked at from joint tax commit city. and guess what we came back with? it is regressive. it is regressive and reaches down into middle america, and requires them. listen, now even if you strictly limit -- if you strictly limit the deductions the way that senator toomey suggested. you don't get enough money, david. you can't get to a 28% which loses you a huge amount of revenue, and wind up with the money you need to fill the gap. this is the most important thing of all, the toomey plan is the still results in the biggest tax cut since the great depression. it would be the biggest tax cut since calvin coolidge and we all know how that turned out. now we didn't come here to do another tax cut to the wealthiest people

pat toomey and james clyburn. a fox news sunday exclusive z rick perry's 53 second oops moment during a presidential debate. we'll ask our sunday panel about a g.o.p. race that's now wide open. and our power player of the week, turned a new kind of t-shirt in a billion dollars a year business, all right now on "fox news sunday." >> chris: hello again from fox news in washington. this weekend the penn state football team took the field without joe paterno for the first time in 46 years. he was fired after a scandal about a former assistant coach allegedly abusing young boys, some on campus. in the stadium thousands wore blue instead of white to express sympathy for the victims. we'll talk with former penn state football great frank owe harris and the student body president. as governor, you're a member of the board of trustees at penn state that voted to fire joe paterno but never gave a reason why other than to say you're going a new direction. why did the board vote to fire joe paterno? >> chris, i believe the bo

we came up with taxes -- pat toomey. the only thing -- the fact is the only thing they said that would be contingent on keeping the bush tax cuts for rich people. >> eric: where is obama? where is obama? asia, hawaii playing golf. should about he be involved in this process? >> kimberly: he wasn't anywhere and phoned it in from hawaii. he wants failure because that's what he will run against. last week they said yeah, we're hands off because it's a congressional issue. this is the deal they cut to get the debt ceiling deal. now, today, the spokesperson says of course, the president has been very involved. of course, we are urging congress to get a deal done. this is leading from behind domestically. i think the white house takes blame. >> kimberly: you associate it with failure again. >> eric: he knows they never buck from the -- >> kimberly: he knew the outcome. >> greg: he is calling from hawaii, which isn't part of america. >> greg: thank you. >> greg: who benefits politically from this? is everybody tarred? >> kimber

and it is that expiration date that has allowed pat toomey to outsmart grover norquist. i have had and surely will have many disagreements with pennsylvania's junior senator but tonight, i regard the senator and his staff with nothing short of awe for unlocking the norquist pledge. it's over, grover. you're expiration date has arrived. [ male announcer ] in his eyes...a race needs no finish line. ♪ in her eyes... the world is never too big. in his...the weather should never keep you inside. ♪ because they see no limits, there's eukanuba nutrition designed to help their body go as far as their mind wants to. eukanuba. extraordinary nutrition for extraordinary beings. see the difference in 28 days or your money back. ♪ ♪ [ male announcer ] everyone deserves the gift of a pain free holiday. this season, discover aleve. all day pain relief with just two pills. two of the most important are energy security and economic growth. north america actually has one of the largest oil reserves in the world. a large part of that is oil sands. this resource has the ability to cr

and it is that expiration date that has allowed pat toomey to outsmart grover norquist. i have had and surely will have many disagreements with pennsylvania's junior senator but tonight, i regard the senator and his staff with nothing short of awe for unlocking the norquist pledge. it's over, grover. you're expiration date has arrived. ♪ ♪ ♪ when the things that you need ♪ ♪ come at just the right speed, that's logistics. ♪ ♪ medicine that can't wait legal briefs there by eight, ♪ ♪ that's logistics. ♪ ♪ freight for you, box for me box that keeps you healthy, ♪ ♪ that's logistics. ♪ ♪ saving time, cutting stress, when you use ups ♪ ♪ that's logistics. ♪ >>> she's had to miss 98% of the votes in the congress she loves. so today, does she think she can go back to washington? >> no, better. >> it's better? >> i -- oh -- >> she wants to get better. >> better. >> you want to get better. >> better. >> and so you think to yourself, i'll go back to congress if i get better. >> yes. yes. yes. yes. >> and that's where you are right now. >> yes,

i appreciate senator toomey's flexibility because he wants to get a result for or country. i would be very cautious about increasing taxes at a time of such historic high unemployment. that's what the president believes. said it last year. >> senator, i want to ask about 2012. the group of republican candidates have not exactly been impressive on debates on foreign policy. were you a little bit shocked at herman cain's answer on libya and rick perry's brain freeze, at the performance of some of these candidates, your fellow republicans? >> first of all, a couple of things are happening, we've had more debates than we ever had. at this stage candidates are doing the retail politics dut. >> but they shouldn't be better at debates, 23 or more debates helped make barack obama and hillary clinton better debaters and mitt romney's debates last cycle made him a better debater. look at these guys, getting worse not better. >> what you outlined is right. with mitt romney's case, he ran four years ago and you seep the benefits of having run before. i think the candidates will be the

supercommittee mabe member pat toomey on what it will take to break the logjam. >>> also today -- the immigration wedge. gingrich calls for a humane policy and mitt romney pounces. >> i don't see how the party that says it's the party of the family is going to an immigration policy that destroys family. >> amnesty is the magnet. >> our powerhouse roundtable. the last crucial month on the trail before voters get their say. >>> bbc takes us to syria, where we get an exclusive look at the uprisings. >>> and our thanksgiving interviews this weekend. colin powell called to service. how americans can give back. >> the issue here isn't the 1% that are in military it's the 99% that are not. how to make sure they find it to be a call to serve. >> and matt damon, gift of hope for the world's poorest. >> you see what happens when people finally have clean water. you see how life changes. >>> good morning. welcome to the program. we have a big show for you this holiday weekend. >>> but first, some news since your morning papers. newt gingrich snagged a major prize of this campaign season today, a

joining me now is former supercommittee member pat toomey, republican of pennsylvania. thank you very much for joining us. >> good morning. thanks for having me. >> i just wanted to ask you, you know, the ranking republican on the supercommittee said that he really worries for the country and wonders how long this country has to actually put itself back on a sustainable plate. do you think anything is going to happen? before the 2012 elections in this regard. >> i certainly hope so. i'm terribly disappointed. i think our country would have benefited enormously from a constructive agreement by this committee. the silver lining is the $1.2 trillion in deficit reduction. which was the goal of the legislation that created our committee. it will still go in effect. it's important that some configuration of those cuts, happen, and i do think that that we republicans put a very reasonable plan on the table that will have broader support. i hope that we'll be able to advance at least parts of it, sub components. i'm hopeful that we'll make some progress there. >> you said that

. >> and pat toomey was the guy who actually put forward. he was on the super committee. he's the one who put forward that revised tax plan. that, as boehner says, a lot of republicans were not on board with that. he was at least trying to look for a compromise. he's going to be coming up on our show, by the way, this is what he said about the whole thing. >> i'm terribly disappointed. i really am. this was a huge opportunity for us to do something really meaningful, something that would lead to strong economic growth and job creation and begin to put our federal government on a sustainable fiscal path that we're not on now. >> when pat toomey makes a suggestion or there's another suggestion coming from the democrat, why don't people just say, ok, pat toomey, i like three pages of this. i don't like the last three pages of this. why don't they negotiate? but instead, they would just say no, we reject it, take this. no, we reject it, take this. when they don't meet face to face, it's november 3rd and a bunch of guys wildcatting on television making proposals that were neve

the recor yes, tom coburn to suppo t on simpson-bowles and he was excludedrom the committee did pat toomey was on the committee. he endorsed $300 billion in revenues over thet 10 years, $30 billion a year, under e condition, that the bush tax cuts nimply be retnened, but at the highest rate be cut to 28%. democrats think they have a winner polititically on this. they didn't -- juslet me finish if f i could, charles before you i interrupt. this discredits government it discredits congrs, and it helps repupublicans in 2012. >> what i don't understand is how you n sayay oh, yes, the republicans would have increased revenues, butecause the rates were lowered, it is not a good idea. who cares? do y think the chinese who ow our debt, caree about the rates? what they care about is the net revenues and the deb per you can do it with lower rates, and it is a win-n-win. >> that is a big if. >> is tha -- is there a silver linining here? >> that is the other thing the and not going to let the automatic cuts take place. that is the further damning thing about our system. we have no way of straightening

. >> pennsylvania republican senator pat toomey is a member of the debt reduction super committee. the super committee was created by congress in august with one task -- cut the u.s. national debt now at $15 trillion over the next 10 years by at least $1.2 trillion. 12 members sit on the murray. house democrats becerra, kleberg, van hollen. a circle. majority of this 12-member super committee, seven out of 12, must vote yes on the super- committee bill by november 23rd, this coming wednesday! so it can reach the full congress for a final vote. but even if congress fails to pass the bill, get this, it makes no difference because an automatic trigger will will go effect. that means if congress votes no, the national debt will still be reduced to automatic cuts worth $1.2 trillion. half of those cuts would come from defense, half from domestic programs, including medicare. many believincluding medicare. many believe the super- committee will not reach its thanksgiving eve deadline. why? taxes. democrats don't want to deal that doesn't include tax increases. they want to boost governme

pat toomey was on the committee. he endorsed $300 billion in revenues over the next 10 years, $30 billion a year, under one condition, that the bush tax cuts not simply be retained, but at the highest rate be cut to 28%. i would say this -- the democrats think they got a winner politically on this. they didn't. just let me finish, if i could, charles, before you interrupt. this discredits washington, this discredit congress, and the more it does that, it helps republicans in 2012. >> what i don't understand is how you can say oh, yes, the republicans would have increased revenues, but because the rates were lowered, it is not a good idea. who cares? do you think the chinese, who own our debt, care about the rates? what they care about is the net revenues and get. if you lowered the debt and can do it with lower rates, it is win-win-win. >> that is a big if. >> is there a silver lining here? >> that is the other thing, they are not going to let the automatic cuts to take place. that is the further damning thing about

. >> the democrat you heard from at the end there, co-chair of the super committee and then pat toomey from the super committee republican at the top. i think you get what i'm saying. both of them say, hey, i'm ready, i'll keep talking as long as you come to me. the problem is, they're both saying that and no one's moving and the truth is that behind the scenes, staff is admitting that this is over, at least barring any unexpected development. >> right. let's be honest, lisa, a lot of americans will say, oh, they failed. what a huge surprise. people weren't expecting anything out of -- they don't expect anything out of washington. did these specific lawmakers go in with an attitude that this wasn't just an exercise in futility, that they did think they were going to accomplish something here? >> i'll tell you from standing outside these meetings, watching these lawmakers go in and out, and they've spent sometimes as long as six, seven, eight hours day, a few months ago, working out these problems, i really believe these lawmakers were serious. i've talked to staff behind the scenes. i

pat toomey was on the committee. he endorsed $300 billion in revenues over the next 10 years. $30 billion a year. on one condition, that the bush tax cuts not simply be retained, but the highest rate be cut to 28% bid the democrats think they have a winner politically on this. they didn't it just let me finish if i could, charles, before you interrupt. this discredits government, it discredits congress, and the more than it does that, it helps republicans in 2012. >> what i don't understand is how you can say oh, yes, the republicans would have increased revenues, but because at the rates were lowered, it is not a good idea. who cares? do you think the chinese, who own our debt, care about the rates we have? what they care about is the revenues and the debt. if you lower the debt, and you can do it with lower rates, is a win-win-win. >> that is a big if. >> is there a silver lining here? >> they i'm not going to let the automatic cuts take place. they are going to find a way to wiggle out of it that is another damnin

particularly from someone like pat toomey. to matt's point, people are looking at this, i think, they're going to see two things. one is, this feels like greece two years ago. a country that's not able -- even in a small way, 1.2 trillion out of 42, to make a little step forward. it makes the government look bad. it's just not a good thing. >> the president loses in this. democrats in congress loses in this. the republicans in congress loses in this and the people in the country. >> this was just a terrible idea. >> a horribly tragic thing. >> because it's a political issue, it's not a technical issue. not a small compromise. we have to make a decision of what kind of country we're going to be. >> we'll have at least some direction, at least way the republic wants to go. >> we thought we had some direction ten years ago. the country goes back, the congress goes back to this poll rad poll raised atmosphere. >> this is a transaction cost of democracy. the congress far from being dysfunctional is functioning as a representative i

we heard from toomey and two conservative senators on the republican side. they're willing to increase net reeve knews, which is what the democrats demanded but not tax rates. they want to broaden the base. eliminate the loopholes, then you can lower the rates or keep them the same. what you get is democrats refusing to take yes for an answer. as we saw in what kerry said. all he cares about about is the arguement that republicans are protecting the rich because they won't raise tax rates. this isn't about rates. this is about revenue. what we are trying to get is revenue to decrease the deficit, you do it by tax reform. you lower the rates, you eliminate the loopholes which essentially the rich are paying. and you get tax reform, lower rates, higher revenues. >> shannon: let's talk about the sequestration issue if it happens. you feel confident they would go around it if it happens. buck republican congressman with the house armed services committee wrote a letter to the cochairs of the super committee saying if sequestions ration were to occur the impact o