Page 25 - Loop Holes News Today

And you know 40 or 50 percent of the budget is social security and medicaid. they have got to make reforms . i hope they come up with proposal to bring the tax holds down and get rid of the loop holes. there is a decent chance we might get something good out of the committee in that regard. if we want to bring the debt down we have to get the economy growing again. and the u.s. tax system is an tross. and what does it mean if there is not a break. >> the technical term is sequester . that mean...

The united states treasury. you will not have corporation setting off foreign trust. tim gehner, the treas secretary cant figure out his taxings. flat tax is simpler and generate more revenue. >> go and soak the rich on the flat tax. >> i testified before congress about i.r.s. reform and menging the flat tax. i think that the rich could pay more under it. it would stop them doing tax evaluation with a higher rate. russia and estonia and lithionia. and we are stuck with the i.r.s. that makes war ...

Lengthen prison sentences so they can make money in the prison industrial complexes or move jobs offlore or putting loop holes in the tax law so i dont have to pay taxes. these are things that need to be addressed. the reason that i dont pay tax is because theres someone pushing a politician to leave a loophole or promote a hole in the market that i can squeeze my company through. no one will ma -- the conservatives always say, why dont i write a check for more taxes. well, no, i wont give my mo...

From being with the administration side. that being said. small businesses are paying the high corporate income tax. because of the loop holes there is a 72,000 page that is add for loop holes and for big business. it may not be 9, but take it down, we would spur hire negligent country. >> wayne, you said it would get rid of congress and that would be a nice thing to have. but at the same time it is not simple as snapping a finger. our tax code is massive for a reason. there is companies and goi...

Ideological. i think when we go out, i dont care whether were talking to a synagogue in fort lauderdale, florida or talking in south alabama to a -- at a conservative christian church. were stunned by the agreement of the most liberal and the most conservative saying, okay. our entitlement programs are going belly up. why are we spending $2 billion a week in wars all across the globe? and they just take off -- why arent the rich paying? why do we have all these loop holes? why isnt there more ta...

>> but the question is -- >> its a false choice. >> should the president risk being called a liberal, being called a democrat, progressive, whatever? should he risk that and go, you know, people dont like these terms. they make sense to the american people. should he be a progressive liberal president or should he try to be a centrist? thats my key question. i think the american people read this guy and theyre trying to figure out what he is. senator sanders? >> well, i think, you know, the evid...

Actually did in doing that was he brought a deficit in the state of massachusetts to a surplus by the end of his term as governor. that is actually a pretty good credential for him to be talking about but he doesnt do it and he doesnt do it because deraise taxes. so yes. he has a little bit of an issue there. >> he may not do it because its hard to do that and bring the deficit to a surplus and then say but lets not do that nationally. its hard to say that president obama shouldnt close corporat...

The things necessary to get this economy moving again. >> but the question is -- >> its a false choice. >> should the president risk being called a liberal, being called a democrat, progressive, whatever? should he risk that and go, you know, people dont like these terms. they make sense to the american people. should he be a progressive liberal president or should he try to be a centrist? thats my key question. i think the american people read this guy and theyre trying to figure out what he is...

Income. their rate comes down. but somebody like warren buffet who makes all his money in capital gains, his rate would go up. and its a fairer system. >> the average millionaire, billionaire pays 18% in taxes. >> rite. >> in america. doesnt simpson/bowles sound like a great idea? close the loop holes. if we could get them to even pay 25%. >> there is something to that. >> the only argument were going to have is where the numbers fall down and how much the person who is making $oo,000 a yea -- $...

today with different messages. a few hours ago, alri tv broadcast a defiant audio message from saif gadhafi saying his father and closest followers are hiding in tripoli suburbs and their morale is high. listen. >> the leadership is fine. the leader is fine. and we are fighting and we are drinking tea and coffee and we are sitting with our families. >> saif gadhafi also had a message for people he calls his brethren in tripoli and alibya. >> reporter: were saying to everyone move now. ...