Page 2 - Special Break News Today

Bills for no matter what it is, there is a tax attached to that all right? and just moving around here in the new york area, we have to pay tolls to come in and out of city. were not only paying 40% to the federal government in income tax and then more to the state then everything we do is taxed. >> what if you smoke. >> if you smoke you deserve it. >> 58 bucks. >> i would make 150 bucks if it were me. >> you would. >> i would drive everyone out. and then im paying for the guys elm if emphysema ...

Opportunities. but then they give special breaks to certain companies. all benefits? no. all dont benefit. the privileged benefit. like members of congress when it came to obamacare. >> is there any other large employer who gets the same treatment? >> the congressional provision only applies to congress. >> unions complain. >> well be damned if were going to lose our health insurance because of unintended consequences! >> so unions got a special break. >> so you complain, you got a special break...

Tip and said i need your help on the debt ceiling. and tip said, fine, just write a letter to each of the democratic members saying, thank you for that. asking them to do it so it wont be used against them in the next election. thats how you put up the truce flag. thats how you move forward. if you dont try to score points on every single issue. and reagan was grown-up enough, at least with the help of people like stockman and baker, to say, you know what, were not going to win on this debt ceil...

Refinance? how do you get the congress to let bankruptcy judges reduce peoples mortgages in the bankruptcy process given, again, the resistance of investors and other people sayingç why shoul they get a special break? so it is a tough, tough problem, and, you know, in reality the obama administration itself has only marginally a different position because it, too, doesnt have trillions of dollars lying around to solve it. >> if its not likely -- to your point, if its too complex and hard to so...

It will erode a lot of the political support for it. >> how much of our financial issues, difficulties right now are tied up in the fact that, according to some people, that our tax system, our tax code is so antiquated that it hasnt been looked at, ingested in terms of the 2020s? >> its a big part of it. you have to clean out the attic every once in a while. weve had a couple of decades pfr weve had major tax reform. every year you have people coming to washington, going on special break. its f...

Israel to be a very important thing. that is okay. its when the politicians get bribed, if you will, by the people in congress. that is when it hurts. thats when people who come to congress and say here, a bunch of money. give me a special break. that works. it doesnt work. excuse me. >> liz: speaking of breaks well take one. coming up, you might feel effects from the recession, but evidently nancy pelosi isnt. millions of americans face foreclosure and she is getting a pricy new office. guess w...