Page 2 - Cap Deductions News Today

Of americans for tax reform oh, gotten hundreds of republicans to sign his pledge that if elected, in washington, they would not raise taxes. so hes got in a filing cabinet in the office somewhere, all of those pledges. here is the thing, weve got to raise more money and there are a number of republicans who have said okay. we can raise revenue maybe close deduction, loophole, stuff like that, just dont raise taxes. lindsey graham has actually said, maybe its time to reexamine him signing the pl...

Anti-tax increase. this time its lindsey graham. >> when youre $16 trillion in debt, the only pledge we should be making is republicans should put revenue on the table. were this far in debt. we dont generate enough revenue. capping deductions will help generate revenue. i think grover is wrong when he says we cant cap deductions and buy down debt. what do you do with the money? i will violate the pledge only if the democrats will do entitlement reform. >> publisher and former pennsylvania gover...

More defiantly on these issues since the election. nancy pelosi for example flatly said she wouldnt go along with a deal that didnt raise tax rates on the rich. lets watch the former speaker. >> weve seen talk about a possible compromise that would leave rates the same but cap deductions for high income earners. is that something thats acceptable? >> no. >> not at all? no way? >> i mean, the president made it very clear in his campaign that there is not enough -- there are not enough -- what you...

Cuts to entitlements like social security and medicare. many key players are talking more defiantly on these issues since the election. nancy pelosi for example flatly said she wouldnt go along with a deal that didnt raise tax rates on the rich. lets watch the former speaker. >> weve seen talk about a possible compromise that would leave rates the same but cap deductions for high income earners. is that something thats acceptable? >> no. >> not at all? no way? >> i mean, the president made it ve...

Security and medicare. many key players are talking more defiantly on these issues since the election. nancy pelosi for example flatly said she wouldnt go along with a deal that didnt raise tax rates on the rich. lets watch the former speaker. >> weve seen talk about a possible compromise that would leave rates the same but cap deductions for high income earners. is that something thats acceptable? >> no. >> not at all? no way? >> i mean, the president made it very clear in his campaign that the...

More conservative republicans from a lot of districts. districts in which people voted for president from one party and a congressional level person from another has slunk from 42% to 24%. so in some ways, theres less reason to come across the aisle. i think its going to be a bumpy ride until the end of december and possibly into january. >> karen, when we talk about bumpy rides, we focus on the republicans. but at the end of the day, the woman thats maybe driving the bus on all this is minority...

For president from one party and a congressional level person from another has slunk from 42% to 24%. so in some ways, theres less reason to come across the aisle. i think its going to be a bumpy ride until the end of december and possibly into january. >> karen, when we talk about bumpy rides, we focus on the republicans. but at the end of the day, the woman thats maybe driving the bus on all this is minority leader nancy pelosi. she hasnt gotten the credit in the ones that passes legislation. ...

Compromise that would leave rates the same but cap deductions for high income earn weers. is that something thats acceptable? >> no. >> not at all? >> the president made it very clear in the campaign there is not enough. what you just described is a formula and a blueprint for hampering our future. you cannot go forward -- you have to cut some investments. if you cut too many, you are hampering growth, youre hampering education, and investments to the future. >> andy, we seem to be standoff once...

A deal. perhaps more revealing while in thailand on sunday president obama asked for a monks positive mojo to deal with the tax drama unfolding inside the beltway. >> i always believe in prayer. if a beau dast monk is -- >> good vibes. the when trol question, can increased revenues which top republicans have agreed to happen without a tax hike? >> could you accept a deal that does not include tax rate increases for the wealthy? weve seen talk about a possible compromise that would leave rates th...

Editorial board. the president said the math tends not to work with just closing loopholes and limiting deductions. but, if we were to do that you say the math actually does add up. >> a lot of independent analysts have said the math does work. and tax policy center, i think you were being kind. they are kind of on the left. have you had people of all stripes crunching these numbers ever since mitt romney said lets cap deductions and the answer is the money is there if is he willing to abandon t...