Cap Deductions News Today

Break as you know. when you look at the sequester, senate democrats are expected to announce their plan to avoid the sequester, showing that according to one report its a 50/50 split over the next ten months, spending cuts and new taxes, part of their idea, including the buffett rule, which is the cap deductions and loopholes for millionaires so they pay at least 30% of their salaries in taxes. would you support that as we get closer to that deadline? >> yes, and i think the senate is really on ...

But just more of the same. the conversations that the staff had yesterday, just more of the same. its time for the president, if east serious, to come back to us with a counteroffer. >> not a no on the rates going. up thing. john boehner didnt answer the tax part of the question at all. he talked about the phone call. it was pleasant. he didnt say we did not allow tax rates to go up at all. you see the deal thats taking place. a lot of the players i talked to think something like this is going t...

Think something like this is going to happen. the final rates raise a bit giving democrats a win. giving republicans a win. maybe they will be 37%. maybe 38%. that wont raise enough revenue so it will be combined with policy to cap deductions for the rich. that wont take effect right away. it will be phased in. it will probably include an exemption for charitable contributions. the harder question is what republicans get on the spending >> thats not a no. here is the treasury secretary timothy g...

Entitlement cuts. president obama seems to be indicating balance means getting more from the wealthy and likely to mean raising rates. as he said today and prior to today, the math doesnt add up if you simply close loopholes, cap deductions, do those sorts of things. were sort of where we always have been. its where we have been for several years at least when it relates to congress and the president simply not being able to resolve what are fundamental differences. we talked about this before t...

>> governor romney has nothing to lose, hes obviously lost the election. he can be straightforward with the president. doug, i love you and i hope youre right about this. in terms of optimism, but there is nothing in the presidents history or background over the last four years that indicates any sense of compromise or conciliation or reaching out. >> hes already said hes willing now tentatively to come down on the top rate in the negotiations, and hes hinted at entitlement reform. if governor r...

More money. in five weeks, i and my democratic colleagues will stand on the floor of the house of representatives and take our oath to the constitution of the united states of america and still most republicans will take their oath to grover norquist and thats the fundamental difference between us. >> here is senator lindsey graham of south carolina on norquist. here it is. >> i agree with grover we shouldnt raise rates but i think grover is wrong when it comes to we cant cap deductions and buy ...

Even if it cost the middle class more money. in five weeks, i and my democratic colleagues will stand on the floor of the house of representatives and take our oath to the constitution of the united states of america and still most republicans will take their oath to grover norquist and thats the fundamental difference between us. >> here is senator lindsey graham of south carolina on norquist. here it is. >> i agree with grover we shouldnt raise rates but i think grover is wrong when it comes t...

Defend millionaires and "k" street and special interests even if it cost the middle class more money. in five weeks, i and my democratic colleagues will stand on the floor of the house of representatives and take our oath to the constitution of the united states of america and still most republicans will take their oath to grover norquist and thats the fundamental difference between us. >> here is senator lindsey graham of south carolina on norquist. here it is. >> i agree with grover we shouldn...

The historical average is 18% going to the federal government. one way to get more money is cap deductions. if you limit deductions to $50,000 per punish person, to take care of the missed-class person and then some, you could raise $750 billion in new revenue. to do what? to pay down the debt. we need more money to get out of debt. and to lower tax rates for corporate rates and other rates to create more jobs. i am willing to put revenue on the table to pay down debt and create a better economy...

Goes beyond the talking points of the campaign trail, and that has a realistic chance of passing the congress. the time, in other words, for campaigning is over. its time for the president to lead. >> when youre $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece. and republicans should put revenue on the table. so i agree we shouldnt raise rates, but grover is wrong when it comes to we cant cap deductions and buy down debt. what do you do with the...