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Idea. a realistic way for to us raise revenue from people who benefited enormously in the last several years. >> making the wealthy pay is not the focus of the charitable community. it fear money charity would have received in donations would go instead to the federal government in taxes. >> if they are taxed on their gift to the charities, that is just that much less money that they are able to give to non-profits. >> who will pick up the slack? no one. >> so neither the president's plan nor the one from congress would exempt charitable donations from the deduction cap, which is exactly why t...

Woman and child, and about half of it is untaxed profits held offshore. >> so how could romney not know that? i mean, this guy's a corporate shark. i mean, he's got to be lying about it. now, he also suggested the deduction cap could be set at $25,000 or $50,000 instead of his original suggestion of $17,000. now, how does that change the math? >> well, romney deducted $4 million in itemized deductions. that's more than twice what he paid in federal income tax in 2011. if he'd taken all of his charitable deductions it would have been more than $6 million. so were he to get this through, and i c...

Shutting down these two wars. >> all right. i want to play this. here's what romney said regarding deductions of outsourcing. here it is. >> as you said, you get a deduction for taking a plant overseas? look, i've been in business for 25 years. i have no idea what you're talking about. i maybe need to get a new accountant. >> what's he lying about here? >> there are a whole varieties of subsidies that go to companies that move overseas. there's a report out momentarily, or recently, about $168 million. that's a small part of it. one of the fundamental rules here is that american corporations a...

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