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Detailed text transcripts for TV channel - CNN - 20170427:08:34:00

They are saying this will be the biggest tax cuts in history. the question, again, will it be tax reform, real reform that can grow the economy or just tax cuts that are expensive. it s just about universal agreement. we need lower corporate taxes and simplification of the code. but you re wondering what does this mean for me and how does this help get me a job. this is a starting point. you have to work for congress. the house has been work iing on tax proposals for a long time. there are parts of this tax that do not jive with what paul ryan is doing. it s a start. shifting to health care. with that battle brewing, all eyes on the moderate house republicans after after the freedom caucus voted to back a deal. the latest was hammered out from leaders. it would allow states to seek waivers to weaken reforms. notably protecting people with ....

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Detailed text transcripts for TV channel - MSNBC - 20170427:17:37:00

With congress. so there s a lot of things. but i think the president laid out a plan that achieves or seeks to achieve three basic things. one, is economic growth and job creation. two, is a simplification so that american people can actually file their taxes in a rather normal process that doesn t require a ton of money and time. and three, is to do stuff that makes our creating a better business climate that ensures that manufacturing and job creation and people want to hire here and that we help the middle class. those are the three guiding principles that the president has. as we do that, one of the things that you recognize through a lot of the models here is that you re going to achieve greater economic growth. it s something that we saw both following the tax cuts in the kennedy administration and reagan administration. i think that we can achieve greater growth, economic prosperity and job creation under the plan that the president laid out. john? thanks a lot, sean. you ma ....

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Detailed text transcripts for TV channel - FOXNEWS - 20170427:14:29:00

Conservatives consider that death tax to be redistribution and when you mention simplification it s something that i think a lot of people have looked for for some time. the first answer you talked about small businesses. what does this plan do for small businesses that they have complained about the previous administration in eight years? it sets a business tax rate of 15%, that small businesses that file generally as pass throughs which are owner-operated small businesses largely can now exist under that 15% tax, which gives them a lot more capital to reinvest in job creation. remember, this is a tax reform bill but as much as anything else a bill that focuses on job creation, something that we need very badly in the country today. and it focuses on economic growth. these are very important things. when it goes back to the individual, though, when you hear the criticism this benefits the rich, we re getting rid of most deductions. the only ones being preserved ....

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Detailed text transcripts for TV channel - FOXNEWS - 20170427:08:38:00

In the american history. understand under the trump plan, we ll have a massive tax cut for businesses and massive tax reform in simplification. this isn t going to be easy. we re determined to move this as fast as we can and get this done this year. we will be attacked from the left and we will be attacked from the right. but one thing is certain. i would never, ever bet against this president. he will get this done for the american people. bret: well, white house briefing filled with economic analysis of the president s tax reform plan. bullet points here of what it looks like now. the details yet to be filled in. basically cut the number of income tax brackets from three. the top rate is 39.6%. double the standard deduction to reduce taxable income. reduce corporate tax rate from 35% to 15%. repeal the amt alternative tax, ....

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Detailed text transcripts for TV channel - MSNBC - 20170427:13:42:00

Credit good stuff. we want to work with him but this is not a plan, it s a page. and until you have a plan, we can t talk intelligently about it. if you continue to have special exceptions or waivers or credits, then the rich will always have the advantage. a common, everyday american is never going to be able to afford a tax team, a tax specialist. corporate america you could say we have a 35% rate, they only pay 3% because they have tax gurus and it is their job to pay the lowest amount. unless we get complete simplification, truly here s your taxes, one page, it s done, regular americans will never have an even shot. that s right. and the trap doors on this thing are when they talk about small business and these are big law firms where the partners make $2 million but structured as a partnership. there s a lot of smoke and mirrors here. we re all going to become llcs. or llps. i think that can get really, really cynical. but, we do need to reform our tax code. ....

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