Siene Couraging News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> the losses at ge can be characterized that way. almost $3 billion in cash taxes were paid by the company. >> we do quarrel about it, harold. i think they included their property taxes and their payroll taxes. they didn't pay their fair share. they made tax avoidance -- >> congressman, i'm not here to defend that. i think it's only fair to put those numbers out there. the question i would have is the question that willie started with. i was in congress with you. if we believe those loopholes should be closed and democrats believe it, why didn't you close it when you were in the majority, num...

The majority, total failure in terms of job creation. it was a windfall for a handful of pharmaceutical companies and companies like ge. it does not work. the title said job jobs. i think we do need to reform our tax code. i'm willing to consider lower rates but i don't think we should borrow from the chinese to do it. i think we should plug some of the loopholes that allowed ge to do its fair share. >> why is the united states of america the home of capitalism and free enterprise have some of the highest corporate tax rates in the world? >> second highest in the world. >> there's a difference...

The united states but never recognize the income initially of what it's spending overseas or that a bank should not be taxed on the interest that it tens from investing overseas. it's one thing after another, where our tax code siene couraging the export above jobs and revenues. >> congressman, it's willie geist. >> hi, willie. >> good to see you. they have an obligation to shareholders, they have to do what's right to their business. isn't the answer to not force them overseas where a tax rate in spitzerland is 15%? why wouldn't they go over there when they could make up 20% of tax revenue? s...