Page 6 - Deficit Problem News Today

And debt problem and the key is the investments coming back into the u.s. encouraging exports, and the pass-throughs, all of the small businesses that are currently taxed at 39.6%, their tax rate would drop to 25. and small businesses invest every spare dollar they have in growth of their companies, which is jobs. it is sustainable and certainly, in western new york weve been devastated by the loss of the manufacturing jobs, which is what we need to come back. elizabeth: right. >> so i do believ...

From various kinds of deductions. of course, the problem with that plan, as weve discussed, is that, if you only cut taxes and dont do actual reform, you end up costing a lot of money which means not only are you going to face opposition potentially from fiscal conservatives, but also you may not be able to get this plan through because of complicated senate rules. basically you cant increase deficits beyond the ten-year budget window, so you have to do reform or you have to sunset the plan. >> ...

And in fact, bring down all business tax rates to only 15%, thats a huge tax cut but the question is, where is that money going to come from. >> they may increase the standard deduction families can take. they may give people a break on the perm side as well as the corporate side. it blows a big hole in the deficit so the question that has to be asked of republicans is, are you going to go along with this. because you believe as you were saying that a rising tide is going to lift all boats and y...

How much this helps you. but i think there are other republicans out there and probably some other people who say the rich always get something. if i can get something out of this, maybe ill be happy. but youve got to also compare this -- lets not do the 7 trillion. lets do 700 billion a year, which is still a whole lot of money. >> a lot of money. >> then the question becomes, if we do this, what in the world are we going to have to cut from government? what kind of benefit that i am counting o...

Democrats to get on that sinking ship. >> charlie, is it sinking? >> i agree, but think how complicated this will be for conservatives in the house who railed for seven or eight years against the obama stimulus package. there is a deficit problem. >> so the republicans not wanting to fund the border wall, which the trump administration wants to be put into this debt limit talk that were supposed to be having very soon. before you go, tara, i want to play a moment from last night. hillary clint...

And 1940s, and the debt ceiling debate has been used to step back and say okay, why do we have a deficit problem? why dohave a debt oblem and how can we fix it and well come up with ideas to raise the debt ceiling and try to address the long-term reasons that we have a debt in the first place. >> youre not someone who voted for a lot of budgets when you were in congress. why -- this doesnt look like a budget congressman mulvaney would have supported? why would you support keeping the -- i feel l...

Congress have traditionally. you go back to the 1920s, 1930s and 1940s, and the debt ceiling debate has been used to step back and say okay, why do we have a deficit problem? why do we have a debt problem and how can we fix it and well come up with ideas to raise the debt ceiling and try to address the long-term reasons that we have a debt in the first place. >> youre not someone who voted for a lot of budgets when you were in congress. why -- this doesnt look like a budget congressman mulvaney ...

Country to rebuild well paying solid jobs. not as much of that in the economy as it used to be. tell me where in the program there is something to actually doing that? i dont know. im looking. >> tax cuts? >> maybe. then you are back to the deficit problem. how do you fill that hole? >> you first have to solve the obamaca obamacare quagmire. he says it will be better and cheaper and no one loses insurance. >> the third one is getting squishy. the president did very explicitly promise that on the...

Liabili liabilities. >> ive always said i dont think were saver arguing from bankruptcy court or getting deeper and deeper in to debt. this is sometimes a difficult subject is both parties are to plame. unholy alliance between right and left. left wants more welfare spending but the right wants unlimited military spending and together they boast raised spending last week and busted through the spending cap. really, theres blame on both parties and until we understand that we will never correct t...

Liabili liabilities. >> ive always said i dont think were saver arguing from bankruptcy court or getting deeper and deeper in to debt. this is sometimes a difficult subject is both parties are to plame. unholy alliance between right and left. left wants more welfare spending but the right wants unlimited military spending and together they boast raised spending last week and busted through the spending cap. really, theres blame on both parties and until we understand that we will never correct t...