Form the RawStory article Obama and the “Gang of Six” from which I got the above video:

James K. Galbraith: “Gang of Six” Plan is all about cuts not increased taxes; Obama represents Wall Street faction of Democratic Party

When I first heard that the Gang Of 6 proposal would lower the top marginal income tax rate rather than raise it, I felt that this would unlikely raise enough revenue. Galbraith comes right out and says what I wanted to try to not to believe, the proposal to raise taxes will in fact be a tax cut for the wealthy. In the usual lingo of politics, words have the opposite meaning to politicians as from what they mean to ordinary people in every day usage.

Even George H. W. Bush called this kind of thinking by politicians Voodoo economics.