Page 13 - Loop Holes News Today

Itself makes a strong statement, the nature of this regime. the practical effects may be limited but hopefully were closing off a few loop holes with this. >> thank you, mr. secretary. if china does not agree to cut off oil shipments to north korea, how can we possibly get enough pressure on them to come -- >> their fuel supplies are already quite constrained. we have evidence that there are fuel shortages in north korea. obviously the civilians are by and large the ones that cant get fuel. so w...

Mislabelled and theyre in danger of losing support for this tax reform. >> neil: to your point, youre a great communicator. theyre too lost in the weeds and explaining the weeds. theyre not really stepping back and saying this is what were doing. the j.f.k. won it was looking at the argument for just increasing revenue that would win over liberals and conservatives. but then when you get mired in this gook, you lose folks. >> exactly. means more take-home pay and higher wages. the language is, i...

Getting rid of loop holes. >> laura: thats the big issue. >> it has to pass the house. >> laura: this is what happened with obamacare. you got it through. it dies in the senate because you have two people, senator mccain and senator flake who do not donald trump to an be a successful president. thats my belief. how concerned are you that for all of this work you have been doing, some people still dont like it, you did something. goes over to the senate and guys? how worried are you? >> i should ...

This will create almost one million new jobs. >> laura: why change it today? >> thats a managers amendment. he applied feedback. >> laura: it will be retroactive? >> we are looking at all sorts of things and taking feedback from colleagues. >> laura: do you think rates are too high in the united states? >> of course i do. >> laura: what should they be? >> i am an old flat taxer. >> laura: i think any individual can spend this much time working this hard and saying 46% in a certain income bracket...

Publicly. and we dont see anything. i think weve got to close these loop holes. >> just before i let you go, you were down in this part of the country in the last couple of days. give people a sense of what this area is like. this is smalltown america where people still leave their doors unlocked. >> oh, yes. i have family there. i ate dinner last night in new braunfels, texas, where devin kelley is from. this is a place where, as you say, people dont necessarily lock their doors at night. it is...

Around every kind of tax. is you telling me that general electrics going to pay 20% corporate tax? >> what im telling you is that a lot of those tax deductions, a lot of those loop holes were closing those. were simplifying this. >> please tell me one loophole, please tell me one corporate loophole that youre closing. just one. >> were closing more than one. >> please give me a specific one. >> what this is going to do is its going to simplify our tax system. >> im asking you to give me a specif...

Help you save for retirement and a rainy day. well get rid of loop holes and level the playing field. and making things so simple, you can do your taxes on the size of a postcard. with this plan, pro growth reforms so that yes, america can compete with the rest of the world and families that are here, can have more take home pay. this is it. this is a very important and special moment for all americans. are we going to let the defenders of the status quo. win and see the downward sphiral or real...

>> neil: but not the benefits of this latest series of tax cuts that republicans are pushing, right? >> no. theyre getting -- i think just getting rid of the alternative minimum tax alone is a huge one. i think dropping the corporate rate without any closing of the loop holes. >> neil: let me ask you while i have you here. when you challenged nancy pelosi, you got more votes than you thought you would get. a lot of people are critical of her saying these long in the tooth. do you want to challen...

It to give huge tax cuts for people that do it well. >> neil: who are you talking about? the rich are still playing the 39.6% range. >> i think getting rid of the alternative minimum tax to make sure no matter how many loop holes that you can jump through, guys like donald trump and people like him have to at least pay a minimum. if you get rid of the alternative minimum tax for donald trump, he would have gotten a $30 million tax break a few years back. i dont think -- >> neil: corporate tax cu...

The rates and getting rid of the loop holes. thats not what theyre doing. >> neil: easier said thank done. theres the little issue in north korea. they want to send more satellites into orbit. lovely. at ally, were doing digital financial services right. but if thats not enough, we have more than 8,000 allys looking out for one thing, you. call in the next ten minutes to save on. and if thats not enough, well look after your every dollar. put down the phone. and if thats not enough, well look af...