Page 30 - Tax Changes News Today

reconsiders laying on the table. >> 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 he...

not to waste their time on a symbolic vote due to happen very soon. im woft blitzer here in "the situation room." >> rupert murdoch says this is the most humble day of his life. a titan of news business, he was called on the carpet before the british parliament today over the phone hacking scandal that shocked and afalled the world. along with a son and former chief executive, murdoch was hammered with questions about alleged crimes that brought down his popular tabloid, "the news of t...

money and influence. how deep does that run? take a look. the television empire, fox with its news programming is part of his world. 20th century fox was huge, hit films. in publishing, "new york post," "wall street journal," what he has in print, along with harpercollins publishers limited, books like sarah palins, all part of the empire of rupert murdoch. we will dig much deeper into the rupert scandal and one of the senators calling for an investigation. first, one of the other stor...

"sister wives" says four wives and 16 children is none of the governments business. their new lawsuit tests this question. is polygamy somehow protected by a constitutional right to privacy? plus late word the governments credit rating could be downgraded because of the stalemate in negotiations over spending cuts and raising the debt ceiling. that warning from moodys came hours after the fed chairman gave his take on the consequences of not letting the government borrow more money. >>...

Lets talk about gas prices, like everybody isnt already. when gas prices go up, people are quick to point out the profits of the oil industry. theyre big. take a look at this. this is just for the first three months of this year. exxonmobil nearly $11 million. bp, $7 billion. shell, chevron, about 6 billion apiece. adds up to big dollars in just three months. ceos from the five major oil companies were grilled by senate democrats on whether their company should be getting billions of dollars a y...

problems. >> these should be actual cuts. real reforms to these programs, not broad deficit or deficit targets that punt the questions to the future. and with the exception of tax hikes which, in my opinion, will destroy americas jobs, everything is on the table. >> what serious conversation about debt reduction begins by absolutely taking the possibility or discussion of tax hikes off the table? >> not very many serious discussions. i remember when i was little, my dad took me to a ca...

not broad deficit or deficit targets that punt the questions to the future. and with the exception of tax hikes, which in my opinion will destroy american jobs, everything is on the table. >> will, what serious conversation about debt reduction begins by absolutely taking the possibility or discussion of tax hikes off the table? >> not very many serious discussions. i dont know. i remember when i was little, my dad took me to a car dealership and said, this is how you buy a car. i reme...

Get about 75% of the $4 trillion in spending cuts, including defense. the rest would come from tax changes, chiefly not renews bush tax cuts for wealthy americans and limiting itemized deductions from the wealthiest 2%. only minor changes to medicaid and medicare, saying paul ryans plan would end medicare. congressman ryan was in the audience for the presidents speech. >> what we heard today was not fiscal leadership from our commander in chief. what we heard today was a political broadside from...

2012 is an election year and winning over budget minded independent voters could be decisive. today with the gop proposal already on the table, the presidents message clearly had independents and moderates in mind. >> we dont have to choose between a future of spiraling debt and one where we forfeit our investment in our people and our country. to meet our fiscal challenge, we will need to make reforms. we will all need to make sacrifices. but we do not have to sacrifice the america we believe i...

Number one about the fact that we think we can get it done. and secondly, that this group is committed to making sure that in a bipartisan way we address the issue. that in and of itself will give us a better opportunity than if we start at opposite ends and hope we meet in the middle. >> senator chambliss do you believe senate republicans will agree to a package that includes any sort of tax changes? >> well, the fact of the matter is that you cant solve this debt problem with just reductions i...