Tax Code Works News Today

Metaphor going to ask about how like a question about how you stuff the meat in the casing, okay? one of the things thats fascinating to me here, you know, people have taken civics or watched schoolhouse rock have the committee system. there are areas of expertise, chairs, staff that knows it, tax writers in ways and means are notoriously expert in how the tax code works. here you have a weird thing you have the committees and theyre doing stuff. you have manchin and sinema, so the negotiations ...

With him and others. see if we cant get this right for them. >> neil: all right. so obviously theres some negotiating room here. i do notice as well as were sort of going through these rates and the brackets and where they kick in, et cetera, one thing that stands out is that the very rich, congressman, are growing to still be paying at the very high rate, the existing rate of 39.6%. some of them feel that since they pay most of the taxes, that is the very rich, theyre not getting much from this...

Correct? >> well, chris we with can also agree on something. im not sure this is the one. if you look at what trump is saying about the tax plan, there is something here for most everyone to agree on. that is a good policy moving forward. a lot of what hes talking about sounds similar to what weve heard from democrats for a number of years now, more fairness in the tax code, eliminating loopholes, making sure that the tax code works for the middle class. >> thats the thing that people all say wh...

If you look at what trump is saying about the tax plan, there is something here for most everyone to agree on. that is a good policy moving forward. a lot of what hes talking about sounds similar to what weve heard from democrats for a number of years now, more fairness in the tax code, eliminating loopholes, making sure that the tax code works for the middle class. >> thats the thing that people all say when talking about the tax plan because those are the things that sound good, the same thing...

They had all the same talking points they do today and what happened? more people went to work. more people were able to buy homes and send their kids to college. it enhances the economy of america and puts more people in the workforce. >> shannon: a lot hinges on tax reform getting done. you work around the clock in the house on that potential roll-out. where are we on that and what is your time frame? do you have one for getting something done? >> this is exactly on the same time frame from th...

Better tax treatment than our own companies that stay in the united states. so creating a playing field that encourages manufacturing and growing and creating in the united states, but make no mistake, if a company is in the united states already and expanding in the united states, it will be only to their benefit. if you think about it right now, the way the current tax code works, it almost incentivizes for companies leaving the united states, manufacturing and expanding overseas and sending g...

Treatment than our other companies who stay in the united states. creating more of a playing field that encourages manufacturing and growing and creating in the united states. but make no mistake, if a company is in the united states already, and expanding in the united states, it will be only to their benefit. it actually -- if you think about it right now, the way the current tax code works, it almost incentivizes companies from leaving the united states, manufacturing and expanding overseas a...

And make it better for those, and creating more of a playing field that encourages manufacturing and growing and creating in the united states. make no mistake if a company is in the united states already and expanding in the united states it will be only to their benefit. it actually if you think about it right now the way the current tax code works, it almost incentivizes companies from leaving the united states, manufacturing and expanding overseas an sending their goods and services back to ...

Works. he couldnt possibly fix it. so he went away for a little while and this is the big move to come back. >> i think he made a big mistake by not doing this at a kegger. would have been a lot more interesting. whats next? is he going to burn an isis flag and shes ehes going to start breaking chinese chop sticks. >> chop sticks are not the only thing that can represent china but i digress there. what sort of bothers me about this beyond the tax plan is that the way you repeal the tax code is n...

Going it talk about everybody getting a fair shake. i think we all agree thats a good concept. but what does it mean to the president and what does it mean to the white house in practice? how would we bring that about? because economic fairness is a concept that to a lot of people with money, is a little bit disturbing. the idea that theyre not paying enough into the government. how do you define economic fairness? >> well, economic fairness is one where the tax code works for everybody. where p...