Detailed text transcripts for TV channel - MSNBC - 20111117:11:37:00
Federal income tax are $1 trillion a year. there are another trillion a year that are so-called tax expenditures, which you might call ways to get around taxes. this is where people want the money to come from. everybody believes in tax simplification and getting rid of some of these deductions, and if you were to cut this in half, which is not going to happen, you could cut the tax rates in half and still end up with at least as much money, maybe more. so in this area of tax expenditures is where people are talking about getting the revenue. so let's take a look at some of them are. what's su...
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