Page 6 - Tax Codes News Today

Is there a plan for some of these elements that will inevitably get cut to try to move it past forward. >> the president has said he has two red lines here. hell not raise taxes taxes on anybody making more than 140,000 a year. and he will make both deadlines. these investments are critical to help working families get some breathing room, making our tax codes work more fair so our wealthiest pay their fair share so we can fix our infrastructure. were in the midst of negotiations. the president ...

Agenda is fully paid for and those are the discussions that are happening right now. >> manchin also writes, what i made clear to the president and democratic leaders is spending trillions more on new and expanded government programs when we cant even pay for the essential social programs like social security and medicare is the definition of fiscal insanity. your response? >> yeah, thats the whole point is that, for example, there were 50 corporations who made $40 billion in profit last year, w...

Can. theres a lot in that bill, tax codes, climate change, social reforms, theres a lot, and people need to know whats in it. its going to take a while. >> reporter: this is why it is significant. pelosi has scheduled that vote on thursday on the $1.2 trillion infrastructure bill but progressives, im told 40 or more could vote against that plan if manchin or kyrsten sinema, other moderates dont sign off on the larger agreement. does that have the support of those key members. if it does not, the...

One, a $1.2 trillion bipartisan infrastructure bill thats already passed the senate, and then a much larger $3.5 trillion human infrastructure bill that theyre attempting to pass through the budget reconc reconciliation process. house progressives have been insistent that theyre not going to vote without the reconciliation package passed into law. the key to all of this might be the senator joe manchin from west virginia who is still signaling that he is not ready to make an agreement on the rec...

Opt hisp. optimism. >> thats a heavy lift and you know there is a lot to do and lot to talk about. there is a lot in that bill. the 3.5 reconciliation bill, tax codes, climate change, social reforms. there is a lot and -- and -- and people need to know whats in it. so its going to take a while. >> by the way, its an understatement to say there is a lot in that bill. by the way, it should take a while, right? people should understand whats in it, not be rushing to write it really fast and then pa...

Enforcement. we did have a president like that. his name was donald trump. we have joe biden who has been a lightweight for 50 years and unmined law enforcement while pretending he supported it. he sold out to the leftist marxist wing of the democratic party. the vice president isnt any better. she was a lousy attorney general in california. we have two of the worst imaginable people running this country. you look at the cities, the leftist mayors, they dont know how to run a city. they are push...

Enforcement. we did have a president like that. his name was donald trump. we have joe biden who has been a lightweight for 50 years and unmined law enforcement while pretending he supported it. he sold out to the leftist marxist wing of the democratic party. the vice president isnt any better. she was a lousy attorney general in california. we have two of the worst imaginable people running this country. you look at the cities, the leftist mayors, they dont know how to run a city. they are push...

Enforcement. we did have a president like that. his name was donald trump. we have joe biden who has been a lightweight for 50 years and unmined law enforcement while pretending he supported it. he sold out to the leftist marxist wing of the democratic party. the vice president isnt any better. she was a lousy attorney general in california. we have two of the worst imaginable people running this country. you look at the cities, the leftist mayors, they dont know how to run a city. they are push...

Pay taxes on it. now, donald trumps trying to stake out his defense here, its the i knew nothing defense. he says, who knows? i dont know. who could understand these tax codes? this wasnt on me. prosec prosecutors do have to prove that he knew it but clearly this is going to be his defense. now, by the way, it stands in contrast to president trumps boasts at a prior time that, im paraphrasing here, but nobody knows more about tax law than me. nobody knows more about the taxes and im the one who ...

Little if anything at all. >> we had to work for months on this to get it into a shape where we, you know, it was accurate and saying something clear. >> reporter: according to propublicas reporting back in 2007, his wealth increased $3.8 billion and paid nothing in taxes. neither did elon musk in 2018. not a penny from george soros from 2016 through 2018. its an legal, thanks to u.s. tax codes, which focus more on wages, as opposed to investments, which are usually taxed at lower rates. thats...