Page 13 - Buffet Rule News Today

Committee come up with tax reform and the president cant even after he had his bipartisan commission in place for two years. this is what the buffet rule would do and would not do. without the buffet rule, $1.2 trillion from the buffet rule would be $30 billion so over 10 years, it comes out to $47 billion in terms of money into the counters which is like a nickel. >> so, you know, if the buffet rule were instituted, how many days would it cover the deficit over those 10 years? 17 days. >> and i...

Entice fog them. however, when dealing with, as james mentioned, the big picture of $15.6 trillion in debt, republicans are saying listen, you should close loophole, we should expand the tax base, and there should be giant tax reform, much like we saw in the simpson-bowles proposal or others. so whether -- who wins out right now, if you look at those numbers, the white house is seeing an advantage in the politics. rick: welcome home, bret, cavment bret on "special report" on fox. jenna: you ment...

That make $200 million, the buffet rule as presented today to the senate will be raising the tax rate for all those who make over $2 million. that as proposed by -- by senator sheldon whitehouse of rhode island sosh so thats goio be on the docket. what will it do? >> thats a good question because its not going to pass. i bet you folks here on the couch a dollar that it will not pass. there are members of the presidents own party who are not united behind this but the president has been very effe...

Rule. some of you know i prosecute pose something called the buffet rule. i was with warren buffet couple days ago. you might have heard of this but warren buffet is paying a lower tax rate than his secretary. >> president obama so-called buffet rule is this. million naivr ought to pay the fair share in taxes. fair share according to the president is for anyone making over 1 million bucks to pay at least 30 percent. but is the president just training to divide working class americans from rich? ...

>> he would have been fired. >> lets talk a little bit about whats going on on capitol hill today. it sounds like the senate is going to bring up the so-called buffet rule where people making -- and this particular version, theyre going to vote on, people making more than $2 million so it would impact you. would pay a minimum of 30%. why is the president pushing this so hard? you know, originally, they said this is going to reduce the deficit. now we know its not going to really reduce the defic...

Says the actual dollars by government standards are relatively small. according to one estimate the money you would get from the buff let ruet rule would cover of the increased deficit under the obama budget. >> the presidents proposal in total would cut the deficit by $4 trillion over the next decade and put us into a path where the date is staebl lied. 3 percent of the total economy which is where everyone gries we need to be. >> you can see the federal deficit without the buffet rule thats ...

Pharmaceutical industry for 70 plus years but theres a glitch here. the department of labor has weighed in. in a couple of friend of the court briefs in recent cases, through the labor department, though its actually not a party to the case, they did want to have a say, so in the briefs, its tweekd the definition of outside salesmen to change it from what it has been. a number of the justices seemed uncomfortable with that scenarioo scenario asking the labor department why would it change the ru...

Coming out. interestingly, guys, it was prom night here in woodward, town of about 12,000 people and it was prom. coming up in the next hour, well talk to one of the students who was at prom as well as the assistant principal of that school who was working to keep the kids safe during that event. guys? >> all right, rick live down in woodward, oklahoma, thank you very much. >> over to washington, d.c. where good news, congress is back! >> they are. >> back in session, and they have a full agenda...

Which is less than his secretary pays, in tacks. >> sure, and that ended up, because they had to give a bunch of money to charity because he wrote a childrens book and all were donated to charity. in buffets case, thats a lie and this is investment income and investment income is packed at the source and its kind of like an individual when they get paid by their employer, the employer withholds taxes every week and april 15th coming around on monday or 16th, you figure out your taxes and if you ...

Prices of gasoline that the american families are paying and the impact that that has on their quality of life, so to me, its a distraction and we need to get back, focused on the economy and getting people back to work, rick. rick: it may be a distraction, sir, but with all due respect the american people seem to like the idea, especially independents. there was a new gallup poll that showed that 63 percent of independents, 60 percent of people surveyed overall, liked the buffet rule, and yet, ...