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Detailed text transcripts for TV channel - FOXNEWS - 20140302:20:12:00

Erroneously sent $132 billion to taxpayer money to false, fraudulent claimants over the last ten years. and on top of that, you know, a tax code should encourage innovation. and investment. and discipline. danelle, that last point is where i pick up. i think the focus here on this reform is simplification, as mary suggests. but it s also growth. we need a tax code that doesn t retard the economy but enhanced it. and more incentive to do so in places that really increase productivity. i think this goes a big step in that direction. not perfect, but a big step in that direction? for sure. i ve taken a look at some provisions and let me say it s not going to put tax accountants out of business. no, that s a dream. it s simple. but it s not simple. ....

Tax Code , Taxpayer Money , 32 Billion , 132 Billion , Doesnt Retard , Out Of Business ,

Detailed text transcripts for TV channel - FOXNEWS - 20140302:20:11:00

Code. for the first time since 1986. at the heart of camp s proposal is a move to collapse the current seven income tax brackets into just three. with 99% of taxpayers paying 10% orp 25%. his plan would also eliminate some popular deductions. a political risk in a midterm election year. we re back with dan hettinger and kim straussle and mary o grady joins us now. mary, you ve looked at the details, what do you like in the plan? well, paul, i ll start with simplification, lower marginal rates and fewer carveouts for people who can afford to put lobbyists in washington 24/7. right now, the u.s. tax code is 70,000 pages long. in 1986, it was 26 pages long. so if that doesn t signal that something is wrong, i don t think we have any evidence. on top of that, the irs, according to dave camp, the irs ....

Income Tax Brackets , Dan Hettinger , Kim Straussle , Maryo Grady , Paul Gigot , 24 7 , Washington 24 7 , Story Doesn T , Tax Code , Dave Camp ,

Detailed text transcripts for TV channel - FOXNEWS - 20140301:19:11:00

Unveiling an ambitious plan to overhaul the nation s tax code since 1986. at the heart of camp s proposal is to collapse the seven income tax brackets to three with 99% paying 10% or 25%. his plan would also eliminate some popular deductions. a political risk in a midterm election year. we are back with dan henninger and kim strassel and mary anastasia o grady. what do you like about this plan? i ll start with simplification, lower marginal rates and fewer carve outs for people who can afford to put lobbyists in washington 24/7. right now the u.s. tax code is 70,000 pages long. in 1986, it was 26,000 pages long. if that doesn t signal something is wrong, i don t think we have ....

Tax Code , Income Tax Brackets , Dan Henninger , Kim Strassel , Mary Anastasiao Grady , Carve Outs , Doesnt Signal , Washington 24 7 , 24 7 ,

Detailed text transcripts for TV channel - FOXNEWS - 20140301:19:12:00

Any evidence. on top of that, the irs erroneously sent $132 billion of taxpayer money to false, fraudulent claimants over the last ten years. and on top of that, a tax code should encourage innovation and investment. this one does not. that last point is where i pick up. i think that the focus here on this reform is simplification, but also growth. we need a tax code that doesn t retard the economy but enhances it. puts fewer obstacles in front of individuals and businesses to invest. i think this goes a big step in that direction. not perfect, but makes a big step in that direction. yeah, well, that s for sure. i ve taken a look at some of the provisions. let me say it s not going to put tax accountants out of business. that is a dream. ....

Taxpayer Money , 32 Billion , 132 Billion , Tax Code , Doesnt Retard , Out Of Business ,

CNN Wolf February 26, 2014 18:49:00

Rise initially. but analysts also say that that would evaporate within a few years. you know, what s interesting when you see this new plan being put out there, you know, so many politicians over the years, they have tried and tried. with little success to push their tax code reforms. who can forget herman cain s 999 plan, quite the headline grabber and now house republicans offering up their latest try to simplify the u.s. tax code. wolf? what does it mean, this promo it s just a proposal right now by congressman camp, for some popular tax breaks? reporter: yeah. i mean, the simplification for those tax breaks really means that taxpayers could wind up, believe it or not, losing things like the deduction for home mortgage interest. but it may be worth it for some people. you know, just to have, you know, a simpler experience when filing their taxes. otherses say good luck, because some americans are concerned about eliminating those kind of ....

Tax Code , Headline Grabber , Tax Code Reforms , Herman Cain , Tax Breaks , Home Mortgage Interest , Congressman Camp ,