Page 32 - Loop Holes News Today

The gentlemen from maryland knows all too well. he and i were in discussions for almost seven weeks when i said again and again that we would be happy to engage in a discussion of tax reform to get rid of those loop holes. i know it makes for good politics to go throw the shiny ball out there, madam speaker. >> would the gentlemen yield in. >> i will not yield. to throw the shiny ball out there that somehow republicans are wed to that kind of policy to sustain these prempss. >> i wish the gentle...

Taxes in our bill, he was very pumped up about that to tell his constituents to tell that the richest people in america were not going to have to pay anything towards solving this problem, but frankly the senate is prepared to offer that, because they feel very strongly the responsible step to take is to make sure americas able to pay its bills on august 3rd. >> congressman hoyer, in addition to the republicans recalcitrants on tax revenues, which the reid plan now meets and simply eliminates an...

On a floor vote on a bill that the president has promised to veto if it somehow miraculously passed the senate, which it wont. republicans are calling it the cut, cap, and balance bill because it drastically cuts spending, then caps future spending and guarantees future balanced budgets through a balanced budget amendment to the constitution. that amendment would also require a 2/3 majority to raise taxes. it was a symbolic debate over a symbolic bill that will never become law, but you couldnt ...

Trillion in additional revenues, which could, accomplished without hiking tax rates but could simply be accomplished by eliminating loop holes. eliminating some deductions. and engaging in tax reform process that could have lowered rates generally while broadening the base. so let me reiterate what we were offering. we were offering a deal that called for as much discretionary savings as the gang of six. we were calling for taxes that were less than what the gang of six had proposed. and we were...

He and i were in discussions for almost seven weeks when i said again and again that we would be happy to engage in a discussion of tax reform to get rid of those loop holes. i know it makes for good politics to go throw the shiny ball out there, madam speaker. >> would the gentlemen yield in. >> i will not yield. to throw the shiny ball out there that somehow republicans are wed to that kind of policy to sustain these prempss. >> i wish the gentlemen yielded, because i think it would be very cl...

America will not remain a great country if we dont keep our promises and protect ourselves. i hope everybody understands thachl we need a-that. we need a flat tax that would maximize revenue so that people would pay a fair amount to the government and unfair loop holes would be closed. we need a small national sales tax to tap into the $1 trillion per year in the underground economy. come on. criminals who sell drugs dont pay taxes. but they do buy stuff. also of 2009 about 50% american househol...

The day, house republicans chose to spend this day in debate and on a floor vote on a bill that the president has promised to veto if it somehow miraculously passed the senate, which it wont. republicans are calling it the cut, cap, and balance bill because it drastically cuts spending, then caps future spending and guarantees future balanced budgets through a balanced budget amendment to the constitution. that amendment would also require a 2/3 majority to raise taxes. it was a symbolic debate ...

Made $4.9 billion last year. john paulson, hedge fund manager. $4.9 billion. because of tax loop holes he was able to pay on his taxes, not on his earned income, but on capital tax. this man is equivalent to -- 184,000 americans per capita. i mean, how can you look at that and not say there is something imbalanced and just wrong about that, congressman? >> well, thats why from day one, since the freshman class came to washington, d.c. we talked about comprehensive tax reform. closing the loop ho...

Later but to take that money out of the economy now would be a disaster. and the republicans are persistently attacked medicare. the house republican budget. the ryan budget would have ended medicare in a decade. and thrown everybody into the tender mercies of the private health insurance industry. america hated that. 80% numbers, americans rejected that. so they brought back cut, cap and balance which was worse, hidden behind that slogan. they are continuing to target medicare. >> what is not i...

75-year solvency. again, none of the savings from social security go to deficit reduction, it all goes to extend the life of social security itself. >> and on the tax piece, which is the part that its hard to see how house republicans can accept any version of it, is there something in what youre doing with tax revenues in your plan that you think would somehow suddenly be acceptable to eric cantor? >> yeah, three things i would say. first of all, it is fundamental, sweeping tax reform to make a...