Page 27 - Loop Hole News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> you need to tie the flat tax to a true economic indicator which would be how much andrea spends on shoes. >> we're in trouble then. >> i think that would work. the other thing is our tax system right now has made it so you need to hire somebody like h&r block in order to keep yourself out of jail. it's almost like buying health care. >> dana'spoint is very well taken. if there ever was a time to get tax reform pushed through, it would be in the after math of this. i happen to think a flat tax is something worth while to look at it. dodon't understand it, but i've talked to steve forbes. he ...

To track down where this stuff came from. there is at least one report in the los angeles times that the numbers, the serial numbers were taken off. so it's hard to say exactly where it will go but is it hard to see how it duoesn't foster some debate here? >> this touches almost every big issue going on in washington now from gun control to immigration. i think you will see a lot of debate about it. whether it becomes action in congress certainly remains to be seen. one thing that might get new attention is the bill to close what he calls the terror gap. right now the federal government cannot...

Republicans and democrats agree that the current federal tax code is broken and both sides recognize the importance of closing aggregious tax loop hole that is pick winners and losers. tax reform that eliminates tax wasteful preferences to generate revenue will bring efficienciy to the tax system. >> brian: who has the right approach. james freeman. james, i like deadlines and. >> it makes the mind. >> brian: find a cure. president wants to raise upward 35 to 39 percent and republicans say cap the deductions is better? >> clearly if you could simplify the tax code and get rid of deductions wit...

Luises. to that that means you have to have economic growth. a tax cut never created new jobs. get economic broet and vitality get the jobs being created. that means more revenue. >> would you accept this piecemeal tax the extension of the bush tax cuts of 98 percent of people under 250. >> it doesn't make sense to raise taxes on job kree tors. the equation is revenue and spending. we can increase revenue without increasing the tax rates. we can lower the rates, broaden the base, close the loopholes as you have discussed, put in place program policies in energy and healthcare and regulatory po...

Taxpayers will have fewer deductions and exemptions. >> number cruncher congressman paul ryan was equally unable to list a single loop hole the romney/ryan tax plan would close. >> it's difficult to accept your word if you're not going to specify which tax loop hoholes you're willing to close. don't voters have a right to know which loop holes you're going to go after? >> mitt romney and i based on our experience think the best way to do this is show the framework, outlines of the plan and work with congress to do this. that's how you get things done. the other thing -- >> isn't that a secret ...