Page 2 - Progressive Tax Code News Today

Wealthier americans are getting a better tax break? >> americans want to see tax reform more for efficiency growth and simplicity. its a challenge because right now we have the most progressive tax code in the entire developed world. the top 20% of taxpayers currently pay 88% of all income taxes to the federal government and 69% of the combined federal taxes to the federal government. so itsz hard to make the tax code more progressive than that. if the wealthy individuals are getting big tax cut...

To push the things through. elizabeth warren is able to refinance their student loans. thats part of her platform. bernie sanders wants to make sure we have a progressive tax code thats part of her platform. all of the things they have been pushing for are things she supports. >> a lot of folks, a lot of progressives hear you say that hillary clinton is one of them. and they roll their eyes. they think back to how they had to pressure her to change her mind on tpp or college affordability and no...

Yeah, close these loopholes here, still keep a progressive tax code in it. it is -- look. you can say this with trump. it is arguably, if youre looking to reform the tax code and believe that your only shot is to do is semi-incrementally, this actually is a very realistic starting point. now, look. we have to see if his numbers add up. he obviously believes they do. there is a lot of tax research analysts that will go through this the next couple of days. it could very well be that some of this ...

About these issues is incredibly important. >> the other possibility is a progressive tax code. >> but i just -- i appreciate all of you being here today. because its the end of the year. and for a lot of people, theyre trying to stretch a budget to get holiday items and a lot of people are trying to figure out, have they given enough for the year to get their tax write-offs. and in that moment of split, it might be worth thinking about how to access charity for good. thank you to jennifer jones...

Have enough money to even buy the chicken that theyre frying. thats wrong. we got to do something about it. >> congressman, im just going to open this up to our folks in new york. michael, we just talked to mayoral candidate joe loda about income inequality in this country. president obama endorsed bill de blasio yesterday, had a sort of on the margins meeting with him yesterday while he was in new york. i thought that was really fascinating, given the fact that the white house usually maintains...

Progressive tax code, which is what the united states of america has and its the right thing, and its about fairness and fairness of opportunity, your point is theres a technical element of redistribution by virtue of hiring -- >> not just technical -- thats redistribution. you are paying for it! >> lets be real about it. lets be real about this. when president obama talks about redistribution, chris, you know this is true, when he talks about redistribution, he is talking about a massive differ...

Kennedy in massachusetts? is it fair to say this? >> all is fair in love and politics i suppose, thomas. the problem with this argument about redistribution is that our system here in the united states has long been based on redistribution. we have a progressive tax code, for instance. you could even argue -- you can argue very well, as a matter of fact, that mitt romney is part of his 47%. remember mitt romney doesnt pay much in federal income tax. mitt romney pays capital gains taxes which are...

This is not a 14-year-old idea. >> right. >> this is current. >> if you apply that to policies, if you apply to the vision hes spelling out there, that is a vision thats consistent with conservative traditions. >> i dont know about that. >> ronald reagan, part of this whole controversy right now is about people not paying taxes has to do with the earned income tax credit. conceived by republicans and promoted by ronald reagan who called it the best anti-poverty program we have. this was a conser...

Especially with carried interest. >> and that was after he said that romney should release his tax returns. thats republican intellectual leader bill kristol saying that he would raise taxes. in fact, he would especially raise taxes on investment bankers who used the carried interest provisions to pay absurdly low tax rates. thats bill kristol saying its weird that investment bankers like mitt romney pay a lower rate than an awful lot of middle class people. thats bill kristol saying that for th...

Rate than an awful lot of middle class people. thats bill kristol saying that for the mitt romneys of this country, the tax code is not progressive enough. he personally would design a more progressive tax code. every word that bill kristol just said is now republican heresy. but it used to be republican orthodoxy. ronald reagan believed in a progressive income tax code. ronald reagan believed that the mitt romneys should pay more than 13%. ronald reagan believed that the mitt romney should pay ...