Page 11 - Tax Codes News Today

Do. number two, is tackle mandatory spending reform. social security, medicare, medicaid, retirement programs for our seniors and for our retired military. and the attritional programs, which is mandatory spending is 85% of the farm bill. thats 80% of that is nutritional programs. all those programs need to be reformed. by stimulating the economy through tax reform, youre going to have more money coming in and its been shown at 1% growth in gdp will bring in $1 trillion extra. so people just nee...

You -- >> i even talked to my accountant. >> this cannot end well. you cannot do this to the tax codes in like a month and a half and expect there not to be all sorts of unintended consequences. >> let me ask you something. does the trump base give a damn about tax reform? >> thats the question republicans are facing in congress. they spent a decade talking as if mainstream republicans following the reagan model pushing for low taxes. they arent sure if they want grievance plus tax cuts. they do...

Will get rid of their ability for state taxes will only affect higher earners, not the lower middle class and the ability to write off -- take a stand arpd deduction which is higher will impact them better. it gets complicated. i dont think chuck schumer will give sound advice to the gop. he will message. >> bill: his larger point the suburbs will make you pay a price for it. some middle class voters see the rates go up. some upper middle income americans might see a deduction in the rate but on...

Again and putting pockets and money in the pockets of ordinary families that need money to support their kids and send kids to school and basic expenses and people are having trouble keeping up with and that ought to be the focus and not just handling a huge amount of money to corporation and making sure that rich family like trump dont have to pay any estate tax. once again, if he wont disclose his tax returns, we dont know what kind of benefit hes getting from this tax plan. he has no business...

Mislabelled and theyre in danger of losing support for this tax reform. >> neil: to your point, youre a great communicator. theyre too lost in the weeds and explaining the weeds. theyre not really stepping back and saying this is what were doing. the j.f.k. won it was looking at the argument for just increasing revenue that would win over liberals and conservatives. but then when you get mired in this gook, you lose folks. >> exactly. means more take-home pay and higher wages. the language is, i...

In addition to the president obama campaign, donna brazile is very clear. why would donna brazile turned on her establishment friends? theres more that will come out. >> tucker: thank you for coming on. republicans in congress has unveiled their plan to overhaul the u.s. tax codes. we have chief financial correspondent here to explain. >> it will be a big beautiful tax cut. the president has said, $1.5 trillion tax cut. they will shrink down several tax rates down to three. 12%, 25% and 35%. wha...

Joining us now, the chairman of the ways and means committee, congressman kevin brady of texas. mr. chairman, always a pleasure to have you on. thank you for being with us. we have specific questions about the plan, but i want to ask you broadly, you are certainly a fiscal conservative. there can be no denying that. this plan at a trillion and a half dollars has a lot to make up on the backside. where do you pay for this program? how do you pull it off, and if the answer is by growing the econom...

Think about what you typically get done over a three-week period at work. this is what republicans are facing right now, 20 working days, 20, to meet their self-imposed deadline to get this massive $1.5 trillion tax overhaul to the presidents desk. 20 days. as republicans sell the plan, they insist they will be able to pay for it. >> the answer is growth and eliminating a lot of the special provisions and deductions and the tax codes. you have to do both. we know certainly we will grow the econo...

Endangered by the documents. under the law, by next thursday, unless president trump decides otherwise, all of that information has to go public. >> if something gets blocked, would it be grand jury information, would it be details? people have to fill out forms, their irs tax codes and things like that. it could be stuff as relatively mundane as that? >> what were being told is that the most serious concern, and i think there is going to be a real concern by the cia in particular in the next co...

They all modernize their tax codes, lower their rates. they are just handing our heads to us on the tax code. so we have to compete and win. we have to simplify and be pro growth. our businesses on main street in every community in this country will be stronger hiring more and increasing those pay checks. maria: good to talk with you, well be following it. thank you so much. president trump says he has full confidence in his secretary of state. rex tillerson, could his days be numbered? ♪ vide...