Than 170 million users in the us. The measure is the latest in a series of moves in washington to respond to Us National Security concerns about china, from connected vehicles to advanced Artificial Intelligence chips to cranes at us ports. Lets get the latest on this our north America Business correspondent erin delmore has been folllwing the vote from new york. Just how significant is this . Because it is the first stage, isnt it . ,. ,. , it . There is more to come. Exactly, ben. It it . There is more to come. Exactly, ben it sets it . There is more to come. Exactly, ben. It sets the it . There is more to come. Exactly, ben. It sets the table it . There is more to come. Exactly, ben. It sets the table for it . There is more to come. Exactly, ben. It sets the table for what ben. It sets the table for what could be further action and to be very specific, the action says that the company, the Chinese Company that owns tiktok would have to either divest, that mean cell, tiktok or face a
president will say the federal government needs to help make the u.s. a more equal place. the tax code is progressive and half of the country pays the entire federal income tax burden of the other half. the increasing inequality and greater inequality. 26 times in a recent speech president obama complained about growing inequality in america. but the question is what will he do about it? the tax system could be more fair to the middle-class. but looking at the tax code suggest it is unfair? top 50 percent with incomes over 35,000 pay 90 percent. and top ten over 120,000 earn 68 percent. the more that politicians
rates of the last nine years is not a tax decrease, they would believe it s continuing the status quo. but $3 trillion of that number comes from continuing the bush tax cuts. president obama favors continuing 82% of the bush tax cuts himself. so president obama supports most of that number. the remaining $2 trillion is cobbled together from taking governor romney s proposals to reduce the corporate rate, which by the way, president obama wants to reduce the corporate rate too. and adding to it rhetoric from the campaign about reducing the middle income tax burden. the reality is this $5 trillion number is not a specific plan by romney. it s cobbling a number of things together and including things obama and romney both agree on. but it is a number, a plan he has talked about. unfortunately, we are out of time, congressman. thank you so much. president obama claims $3 trillion of that number himself,
and i think that ben is it an earnest guy and earnestly reading the map of the land is well, we re going to have to hike taxes on the well-to-do or do something like that because the spending cuts and so here we go on this group that we always hit up despite the fact that half aren t getting in at all. the spending cuts will never come to charles gasperino s point, they will never come as long as you keep adding money into the till. they spend every nickel in there and more. and until you stop giving them money and until you cut them off, then don t forget one other thing, when the market is putting this gun to your head, you will cut. may i point out that eight yooers ago, we are republicans were crowing about the fact that the number of people with no federal income tax burden on the number of people increased under the bush tax cuts. absolutely. and used that as a and started with ronald reagan, i m being a bipartisan
their pockets and to increase the incentive to work. the idea they re not paying any taxes is not true. i want to ask you one more fact before going to margie. the bush tax cuts are a reason many families no longer pay income taxes. the bush tax cuts erased the income tax burden for 7.8 million families. in reality, romney is complaining about something his party contributed to. yeah, absolutely. and there have been a number of republican policies to reduce the tax burden, especially on low income working families, especially on families with kids. the bush tax cuts, that s one part of it. it reduced tax rates and increased credits for things like having kids. that just wiped out a lot of people s federal income tax liability by design. that s part of what the bush tax cuts were designed to do for these families. that wasn t an accident. that is what was supposed to happen. let me go to you, margie.