Page 11 - Tax Problem News Today

>> in this case, i share with the sentiment on occupy wall street. ill tell you what i think that sentiment is. it is saying this country is not fair. it doesnt dole it out fair. and it doesnt. money buys favors. and it buys favors paying off politicians to unfairly advantage individuals, groups, corporations. look fair tax does away with all that. >> if it is so fair why hasnt it gained more traction? >> it has a huge following. i want to say a million followers nationwide. >> that doesnt trans...

You have the fed monetizing debt. he will some day understand that which he wont so well to change the system. >> you go back to the austrian theory. you break it down very easily. you said as soon as we go to this lord kinsean way of thinking, thats when everything gets off the rails and goes back to what bernanke is doing. >> yeah, hes an economic planner. the worst thing you can do is fix prices. when you fix prices, you destroy the market. the great austrian economist said socialism would ne...

Agency that we have as a federal government is entirely paid for by borrowed money. that is not sustainable. we have to get us back into balance. jenna: what is the most difficult part of being someone nesomeoneknew new with a new set of eyes? >> i think the most difficult part of it is there are a lot of people in d.c. that dont think there is a problem. they really think, well weve had debt, we can manage this. handle it and its accelerating so fast now. they keep thinking its not really a pro...

That choir. you can tell them, you can have everything you ever wanted and the other half will pay for it. maybe thats good politics but its lousy economics. >> but you also have the option, either you can raise taxes on somebody or everybody or simply cut spending. >> yes. >> on big, important programs. >> of course. look, thats whats required. isnt it? this is not -- i dont think this is a revenue and a tax problem. this is a spending problem. >> absolutely. >> we have spent ourselves into a $...

Movement is the notion that we are overtaxed. tea stands forout our current b situation. because there are two sides to the budget ledger. taxes and spending. but thanks to the tea party and an incredibly set of wealthy people who dont want to see taxes go up ever, the conversation were having about the budget is almost exclusively a conversation about the spending side. >> washington does not have a revenue problem. washington has a spending problem. >> we dont have a revenue problem. we have a...

No one is asking for the wealthiest people who have made -- >> greta: i have to go. i took headstart because that was in your statement. i realize it is miniscule. congressman, thank you. >> shared sacrifice. >> greta: our next guest says we have another problem. senator orrin hatch went on the record. nice to see you. yesterday the president said he wants to to raise taxes on people who make more than $250,000 a year, is that going to happen? >> his whole approach yesterday was lets raise taxes...

No one is asking for the wealthiest people who have made -- >> greta: i have to go. i took headstart because that was in your statement. i realize it is miniscule. congressman, thank you. >> shared sacrifice. >> greta: our next guest says we have another problem. senator orrin hatch went on the record. nice to see you. yesterday the president said he wants to to raise taxes on people who make more than $250,000 a year, is that going to happen? >> his whole approach yesterday was lets raise taxes...

>> republican congressman paul ryan in the aforementioned would like you to believe that his budget plan will fix every problem. >> we dont have a tax problem. the problem with our deficit is because washington spends too much money. $6.2 trillion in spending over the next ten years. >> largest cuts as a percentage of gdp since 1982. >> this plan would literally be a death trap for some seniors. >> they are going to cut our kids education investment. they are going to cut our research into cures...

The government is broke and push for more spending cuts. >> republican congressman paul ryan in the aforementioned would like you to believe his budget plan will fix every problem. >> we dont have a tax problem. the problem with our deficit is because washington spends too much money. $6.2 trillion in spending over the next ten years. >> largest cuts as a percentage of gdp since 1982. >> this plan would literally be a death trap for some. >> theyre going to cut our kids education. theyre going t...

Three? >> no. >> absolutely. we dont have a tax problem. we have a spending program. >> thank you, todd harris and steve mcmahon. >> you heard it all here. they dont want to do tough stuff except on medicare. and that hurts you. up next every republican has signed a proposed constitutional amendment to balance the budget. were going to look at the b.s. factor here is it really going to pass, will it do more than give them a free ride? ezra klein from "the washington post" is coming in to talk ...