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Budget fiasco in Congress

WASHINGTON – Democrats in Congress have rejected a Republican plan in the U.S. House, but also have rejected Barack Obama’s proposal.

So what do they want?

Larry Haas served as spokesman for the Office of Management and Budget in the Clinton administration. He says Democrats largely voted no because they saw no upside to owning any budget proposal that will never be approved in the Senate.

Haas explains why he is staunchly supportive of tax hikes – especially on the wealthy.

And he addresses calls for a marginal rate tax cut combined with closing most tax loopholes.

Listen here.