Detailed text transcripts for TV channel - CNN - 20110430:22:19:00
Time to slap on taxes. what are these multibillion dollar breaks? we asked tax law expert professor michael grats of columbia law school. >> the rules are terribly arcane. they're terribly complex. you know, i don't try and teach them to my students in a basic income tax class. >> one goes back to 1916, that graetz says allows oil companies to deduct roughly 17% the cost of creating a well that produces oil. a more current one came in 2004 called the domestic manufacturing deduction for manufacturing at home rather than an broad, eliminating it says the left leaning think tampg center for prog...
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