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America would get a tax cutment there would be a huge one-year write-off for any new capital equipment by companies. the republicans vote against this. the very things they have said they want, imagine how thats going to be used against them in a campaign, especially if they wont even bring it up for a vote in the house because theyre afraid of what will happen. so thats the thing to watch is this very clever trap the president has set out for the republicans in the first year of this bill 2012....

America would get a tax cutment there would be a huge one-year write-off for any new capital equipment by companies. the republicans vote against this. the very things they have said they want, imagine how thats going to be used against them in a campaign, especially if they wont even bring it up for a vote in the house because theyre afraid of what will happen. so thats the thing to watch is this very clever trap the president has set out for the republicans in the first year of this bill 2012....

youre looking at live picture from the united nations. where all eyes right now are on this years general assembly. president obama and the first lady, michele bachmann, expected to arrive in new york only minutes from now. at issue for the united states and much of the world this week, a showdown over the middle east. the palestinian authority president vowing to submit a formal application for statehood to the united nations security council. it could have serious implications for th...

Its a busy weekend for a lot of folks. didnt get those taxes filed. a few extra days this year. they have to be in on monday. would you believe some of the stuff people tried to actually write-off? cnn did research and came up with some of the craziest tax deductions the irs has ever seen. have you tried to write some of this off before. buffalo meat? thats a professional body builder. he tried to do it claiming it was a business expense. number four, sponges. tried to pass it off as business ex...

>> a lot of small businesses can have a significant write-off. the biggest one is the $10,000 deduction you get for starting a business. >> talk about that. >> it just increased from $5,000 to $10,000. in the year. so thats when a small business start and they incorporate and then they can write off $10,000 of their start-up expenses. you buy a computer or you lease a car because you have to travel. all of those are considered start-up expenses that can be deducted from your business. >> $10,000...

I mean you are talking about a wholesale wipe out. i dont know theres ever been a margin of switch as great as were looking at in 2010. in the senate, youre looking at something even -- just as significant. -- sharron angle had fallen behind now she is caught up with harry reid again. i think barbara boxer has always been under 50. rossi in the state of washington now even with murray. feingold has been looking for a safe district this side of havana now running even with johnson in wisconsin. i...

I mean you are talking about a wholesale wipe out. i dont know theres ever been a margin of switch as great as were looking at in 2010. in the senate, youre looking at something even -- just as significant. -- sharron angle had fallen behind now she is caught up with harry reid again. i think barbara boxer has always been under 50. rossi in the state of washington now even with murray. feingold has been looking for a safe district this side of havana now running even with johnson in wisconsin. i...

Brink. there are a lot of folks who are ready to write-off the american auto industry. who thought we should have walked away from it. some still think that today. you know what? thats not how you build a better future. thats not how you build a better america. >> in fact, in the days, weeks and months before and after congress passed the auto bailout, gop lawmakers saying the bailout would guarantee the car industrys doom, if not the end of democracy and capitalism itself. >> just giving them $...

Bp has been running television ads about gulf clean-up and how taxpayers, they say wont pay a cent much thats not quite true. in fact, the company will take a multibillion-dollar tax write-off that will come out of your pocket. cnns lisa sylvester explains how it works. >> bp is telling its costs of the gulf oil spill to be at least $32 billion. thats the amount the company is taking as a pretax charge to cover damages, claims and clean-up costs over the next few years. a hefty amount. but bp is...

Congress will do the right thing. they will not allow bp to take advantage of these incredible tax loopholes, which ultimately save them money when they deal with the irs. i think its unfair because any time youre criminally negligent and youre devastating our environment, especially our ocean life, why should you benefit and not have to pay your fair share in taxes? >> this whole thing is amazing to think that this whole oil response disaster clean-up money theyre putting toward it is a huge wr...