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Detailed text transcripts for TV channel - MSNBC - 20171219:01:49:00

It s a good amount, but it doesn t make them super rich. so you have all these weird provisions knocking around this tax bill that do seem to directly benefit a lot of people in congress that they don t your average wage earner. that s absolutely, absolutely true. look at corker. this is a person who his federal financial filings show he made up to $7 million in outside passive income last year alone. so that s the kind of tax cut that we were talking about that would benefit him. john cornyn slipped a midnight amendment into the bill that benefits people who invest in master limited partnerships, a somewhat obscure kind of investment in the oil and gas pipeline sector. guess what? a number of congressional lawmakers on the republican side own those, people like ted cruz. they would be enriched by the provision that cornyn slipped into the bill. so you re absolutely right. a lot of these different provisions would absolutely enrich the very members of congress who are voting on them. ....

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Detailed text transcripts for TV channel - MSNBC - 20171219:08:48:00

But there is one special provision inserted in there which tax experts say are designed specifically primarily for llcs that have depreciatable property. that s like buildings and real estate. and llcs that don t have workers. so it s a provision as tax experts say for basically people who put their real estate holdings in llcs, namely, a good example bob corker, but not only bob corker. we have a new report up at ibt tonight, ibtimes.com that shows all 14 republican senators on the republican side that have the kinds of llc shell holdings. one of the things you re reporting over the course of this has really illustrated for me is just in general, senators and members of congress have weird finances. they don t have finances that look like the rest of america s because, a, they re almost all wealthy enough that they were able to run in the first place. and b, that wealth doesn t come from mostly their wage income. we know what they make every year from their sal rich. it s a good amo ....

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