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Detailed text transcripts for TV channel - MSNBC - 20171217:18:34:00

Disagree with my friend because people want more than just talking points. they want results, and we have already seen results in this economy currently, unemployment is going down, hiring is going up. the stock market has record highs. more importantly, this tax reform plan will help spur more job creation. it will allow workers to take more take home more of their pay. this is so good for the middle class. it s good because people they don t understand, when you have an improvement and a simplification of the tax code across the board for both individuals and for corporations, everybody wins. that s what s going to happen. i do want to speak to what bernie sanders was saying. you know, he channeled for a lot of young people, they know the system is rigged. i agree that the system is rigged, but bernie s answer would be to rig it even further. bernie s answer is to make the tax code even more complex, to make it harder to make new jobs for people. millennials, two thirds of us wan ....

Tax Reform Plan , Stock Market , Tax Code , Job Creation , Bernie Sanders , Everybody Wins , Tax Rate , Two Thirds ,

Detailed text transcripts for TV channel - MSNBC - 20171217:23:51:00

Corporate tax reduction. we ve got to be competitive globally. we ve got to bring back taxes from abroad. those are not sexy political issues. when it comes to we ve got a long way to go to convince the american voters that this was good for them. it doesn t seem like the polling numbers are headed that direction, but we re betting the farm for 2018 on that, so we ve got a long ways to go. george, i know you want to respond to something marc short said. he said first of all it s the best simplification since 1986, which is rather like being the tallest building in topeka. they took the tax code and made it more complicated. now the question is will republicans reform entitlements? the tax code enriches the entitlement menu by doubling the child tax credit and making $1,400 of it refundable, which means a check goes out to people who don t pay taxes. lowering the corporate tax rate. the proper rate for corporate taxation is zero because we don t know who pays them. economists argu ....

Doesn T , George Will , The Farm , Tax Code , Entitlement Menu , Tax Rate , Child Tax Credit , Dont Pay ,

Detailed text transcripts for TV channel - MSNBC - 20171217:23:36:00

And that perception could become a big challenge for the republicans in 2018. joining me now is the white house director of legislative affairs, marc short. mr. short, welcome back to the show, sir. chuck, thank for having me back. i m going to play for you a list of promises the president made when it came to taxes and discuss them with you after you hear it. here it is. at the center of our plan is massive tax relief for the american middle class. going to have three brackets, instead of seven. we re doing a major, major, major simplification. and we re going to make it nice and simple, and we re getting rid of carried interest. all of this does not add to our debt or our deficit. in other words, it s going to cost me a fortune. all right, none of those things are true right now. we can debate the middle class aspect in a minute. i know that is that i can see. but we re still at seven brackets, no more tax simplification. we still have the carried interest issue, which is s ....

Chuck Schumer , Marc Short , White House , 2018 Joining , Middle Class , Tax Simplification ,

Detailed text transcripts for TV channel - CNN - 20171216:15:31:00

Business cycle where we should be cutting taxes, so the original goal of tax reform was such an important one and means the economy is not going to benefit over the long term as it could have instead of doing an end run around the hard work of tax reform really gotten through, gotten rid of some tax breaks and paid for this so it s not going to add a trillion dollars or more to the national debt. and that will be a trillion dollars by 2027. let s put those numbers back up if we could please here so we could see the seven brackets, seven tax brackets here. edward, one of the things that was promised with this was it was going to simplify the process. do you see any simplification of what this bill holds? no. i think it s simplification for people at the bottom end of the income scale, certainly not for people at the high end of the income scale with all the pass throughs which are going to be quite complicated, but i go back more to the strategic issue, which is we need corporate ta ....

Tax Reform , Business Cycle , End Run , Tax Breaks , Edward Connard , Tax Brackets , Tax Cuts , Income Scale , The Pass Throughs ,

Detailed text transcripts for TV channel - MSNBC - 20171216:13:45:00

Side. trying to bring the tax code in the 21st century is long overdue. taking the tax rate to 21% brings us to the level of every major developed countries in this world. moving to a territorial tax system. this has been thoroughly debated for years. doubling the standard deduction, lower rates for most individuals, providing for greater simplification for most americans who do not itemize. that is the case in my congressional district. i believe this will be very beneficial to them. while you re right about the public relations has not been particularly good is because people don t know what s in the bill or don t understand what s in the bill. as people learn more, i think they will see a lot of beneficial aspects. i want to get your reaction to a prediction from senator bernie sanders about where he thinks this tax bill will lead us. let s listen to him. ....

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