Page 29 - Tax Changes News Today

The plan would impose an 18% tax on everything you consume. now, lets be real clear. thats a huge move, to move from an income tax system which is progressive to a consumption tax system, which is regressive because poor folks spend more of their money. it is a huge shift in the burden. perhaps the biggest, most radical seismic shift in taxes since we created the income tax. but i couldnt get the cain campaign to tell me which interpretation was right. earlier today cain told lawrence odonnell t...

How big that would be. so i asked the non-partisan tax policy center to take another look. and they werent sure. they thought the corporate tax would act more like a consumption tax, so all in all the plan would impose an 18% tax on everything you consume. now, lets be real clear. thats a huge move, to move from an income tax system which is progressive to a consumption tax system, which is regressive because poor folks spend more of their money. it is a huge shift in the burden. perhaps the big...

The plan would impose an 18% tax on everything you consume. now, lets be real clear. thats a huge move, to move from an income tax system which is progressive to a consumption tax system, which is regressive because poor folks spend more of their money. it is a huge shift in the burden. perhaps the biggest, most radical seismic shift in taxes since we created the income tax. but i couldnt get the cain campaign to tell me which interpretation was right. earlier today cain told lawrence odonnell t...

many are looking at the gop presidential candidates with a fresh eye. did rick perry do anything to damage his status as the frons runner? ill ask newt gingrich about his performance as well. stand by. hes joining us live. plus, a brazen taliban attack on the united states embassy in afghanistan. some insurgents may still be on the loose now. we have new pictures and information coming from kabul and some top california politicians are trying to figure out what, if anything, is left of...

know now is are we getting into another recession now? >> no. i submitted my forecast to the various polls last week and said no, the economy would grow faster in the second half, things will get better. are there perils? of course. >> those with money who dont need credit or who have the ability to get credit can really do well in this economy and those without jobs at the bottom, with tough credit, are excused for thinking that things are bad. >> absolutely. if you dont have a job, i...

longer the elephant in the room, governor rick perry announces hes joining the republican party for president. >> he may be the republican front-runner but he was not feeling the love at the iowa state fair. he got heckled and laughed at over three words he said, words he may come to regret on this "american morning." -- captions by vitac -- www.vitac.com ing. >> oh, thank got its friday. >> wait a minute. ive got to move my stuff. >> good morning. happy friday to you. its august 12th....

delayed. police in texas say a muslim american soldier confessed to plotting an attack on ft. hood just two years after a muslim officer shot to death 13 people on that same base. tropical storm don could hit the south texas coast tonight and drought-stricken farmers are welcoming the prospect of up to 7 inches of rain. we begin with that sobering reality check on the debt crisis and just how daunting the challenge has become. in less than four days, the federal government could ru...

evening here in the nations capital. just to underline the peril facing the united states economy, and the american people, democratic officials familiar with the presidents speech expect him to say the country right now is, quote, in imminent threat of default. with only about one week left for democrats and republicans to agree on a deal to raise the debt ceiling. in a speech earlier today, the president alluded to the bitter political grid lock between both sides. >> are we a nation...

on this debate before its too late. and a disturbing new study revealing a widening gap between minorities and the wealthiest americans in the wake of a devastating recession. im wolf blitzer here in the situation room. first to what many say is shaping up to be an economic disaster of nearly unprecedented proportions if congress doesnt break the deadlock and agree on a deal to raise the debt ceiling only six days from now. the white house warning today theres no more wiggle room and b...

>> thats the house tonight passing h.r. 2560, better known as cut, cap and balance. now its a republican and tea party sponsored measure calling for massive spending cuts, a spending cap, and congress passing a balanced budget amendment. only then would the debt limit be allowed to go up, ending the current crisis. the measure was passed with just five democratic votes. senate democrats say theyll defeat it. if somehow they fail, president obama says hell veto it. in other words, its d...