John Kerry promises to raise your taxes

SCHIEFFER: All right.

Senator Kerry, a new question. Let's talk about economic security. You pledged during the last debate that you would not raise taxes on those making less than $200,000 a year. But the price of everything is going up, and we all know it. Health care costs, as you all talking about, is skyrocketing, the cost of the war.

My question is, how can you or any president, whoever is elected next time, keep that pledge without running this country deeper into debt and passing on more of the bills that we're running up to our children?

KERRY: ...Every plan that I have laid out – my health-care plan, my plan for education, my plan for kids to be able to get better college loans – I've shown exactly how I'm going to pay for those.

And we start – we don't do it exclusively – but we start by rolling back George Bush's unaffordable tax cut for the wealthiest people, people earning more than $200,000 a year,...

Full transcript here