Page 28 - Loop Holes News Today

Bush tax cuts? mr. obama will call on congress for input. however, news of the plan caught members of both parties by surprise. republican senator saxby chambliss who has been working on a separate bipartisan debt reduction package says the president threw us a little bit of a curveball. really? meanwhile democratic aide tells "mother jones" magazine plouffe announcement did leave us scrambling. house democrats are working on releasing their budget proposal as well. white house officials expect ...

>> closing these loop holes, hes going to be talking about getting rid of this and putting our fiscal house in order. >> joining me now is the editor/publisher of "the nation" magazine. great to have you with us. >> thank you, ed. >> this is another defining moment where the white house has to stand up. why is social security even on the table for discussion? >> you got me. i mean, you got three pillars of middle class security under siege by paul ryan and his cruel republican budget and now you...

Its 75% if youve got 35 corporations that are paying 0 taxes. so, thats what i mean by comprehensive. i think thats what the president is going to be talking about. when he talks about revenues and expenditures. hes going to be talking about closing these loop holes, hes going to be talking about getting rid of these subsidies and putting our fiscal house in order. >> the truth, the debt ceiling is $14 trillion. it takes a lot of $50 billion cuts to get there and you have to fund the government....

Office and mitch mcconnells office, carrying signs that said we found the money, which i think is hilarious. this groups report released pointed out over the last two years the six largest banks paid income tax of 11% instead of the legally mandated rate of 35%. if they actually paid that full 35%, those banks would have had to pay $13 billion more in taxes. that would be enough to cover two years worth of salaries for the 132,000 teachers who have been laid off since the recession began. can yo...

Shouldnt be in favor of the loop holes. its them saying, heres my campaign contribution, give me the loop holes, i keep the money, and you dont. thats what youve got to understand, somebody has to pay the money. if you dont, youve got to fire the teachers, so if its not bank of america and the banks its you paying higher taxes, and we dont want that. all right. now, the u.s. ambassador jon huntsman is being floated as a potential candidate. you know, thats interesting, hes in the obama administr...

Reduce the top rate and close loop holes. in concept you are in favor of that. >> go back to camp roth. you were the 80s. >> sure. and in general the direction should be lower rates and clean out the earmarking. not only in the appropriation but the tax code as best we can. well have to keep some charitable contribution. but have it more transparent and less cronyism and reflected by earmarking in the tax code. >> you mentioned health care . one of the competitors mitt romney pass a prominent ...

Thats exactly what they said and it didnt happen >> what caused the economy when it was flat on the back under jimmy carter, who you recall, flat on its back, what caused it to take off for two decades the greatest expansion in history, the biggest tax cuts in history, because reagan bet on the private sector rather than the government sector. >> and yet pat youre ignoring a seminal fact. 7 and a half years of ronald reagan the tax rate was higher -- >> 86 it went down to 28%. >> before presiden...

Ive read so much about amber, her being outgoing and just sounds like an amazing young lady. how do you plan to keep her voice and what youve learned in the minds of other parents? >> oh, weve started actually -- we established our nonprofit in april, 2009, but shortly after amber disappeared. we knew we were going to be working with families of missing children, so we established that and now were currently working with members of various law enforcement agencies as well as assemblymen in a com...

He is earlier talking about why financial reform is so important. watch. >> never again should the american taxpayer be asked to write a check because of an implicit guarantee that the federal government will bail out a company when it collapses would threaten the stability of the economy as a whole. companies simply shouldnt be that big or that complex. it isnt safe for our nation. >> president obama right now, mr. forbes, is saying that the dodd proposal provides a strong foundation, in other ...

>> julie: and now some caravan members are being processed at the border. the justice department said they wont hesitate to punish those caught crossing illegally. 11 members have already been charged. thomas homan discussing the tense situation on "fox and friends" after announcing his plans to retire. >> i think that its an attack on the sovereignty of this nation. do i think some of these people have a credible fear? do some of these folks, are they escaping fear and persecution? yes, some ar...