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Pelosi: Idea To Raise Taxes On Incomes Over $1 Million Was Ploy "To Smoke Out The Republicans"

ANDREA MITCHELL: Well, Speaker Boehner says that you, in fact, suggested something similar to his Plan B back in your letter of May 23rd, whudd suggest that the tax cut apply to everyone below $1 million.

NANCY PELOSI: Yes, well, I'm glad he's taking up some of my suggestions. And my next suggestion would be to put something on the table, as we were suggesting then, to smoke out the Republicans -- at what level would you raise the rates on the wealthiest people in our country?

Not -- would you raise them at a million dollars?

That was the point of that exercise. But all as a part of an -- a proposal that had deficit reduction, with revenues coming in, with cuts being made, with investments in jobs to grow the economy, to inject demand into the economy and to bring us to the deficit reduction we need. Again, give confidence to the markets, to the consumers, avoid the cliff and the rest.

But they take a piece of it in isolation. But they have proven one thing, and it's a victory for the president, they're willing to raise rates.

Now, the question is, are 218 Republicans -- that's what it takes to pass a bill in the House -- are 218 Republicans ready to raise rates?

We'll find out soon.

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