Tax Code Simplification News Today : Breaking News, Live Updates & Top Stories | Vimarsana

People out there if simplified, it might not be cheaper for them. their favorite thing could go away. >> an that's why when you want to do a tax code simplification. remember, we haven't had one of these in a generation. if you want to do that, when you say, we're gonna take away these deductions. 'cause remember our tax code is a rotten -- oh, it's hideous. it got that way because people got gimmes. realtors said, we definitely want to keep this deduction, doctors said this. when you start pulling them out, you have to demonstrate to the public and to congress, you have to say, here's why it ...

Detail that trump is offering up about what he wants to do with taxes. tax the rich more, tax the middle class less, lower corporate taxes and cut government spending and stop raising the debt ceiling. but like other issues, trump's outspoken positions in the past don't necessarily fit with his outspoken positions of present. but does it really matter when you look at the polls? let's discuss. cnn political commentator margaret hoover is here and ron brownstein. margaret, you're saying part of it is great. >> tax code simplification, check. closing corporate loopholes and incentivizing busines...

It lowers marginal rates from 39 to 35. a lot of conservatives want it lower than that. you keep a progressive tax rate 15 and 35. but it also increases the deficit by a lot, by billions of dollars in the first five years and takes even with dynamic scoring, and i don't want to get into that, it could take over a decade before it rights itself. do you think this tax plan can withstand scrutiny? >> i do. this is a pro growth, pro family tax reform. one that dramatically simplifies the code. at a time when americans have experienced their annual tax day. at a time when our tax freedom day gets p...

Dollars in the first five years and takes, even with dynamic scoring, and i don't want to get into that, it could take over a decade before it rights itself. do you think this tax plan can withstand scrutiny? >> i do. this is a pro growth, pro family tax reform. one that dramatically simplifies the code. at a time when americans have experienced their annual tax day. at a time when our tax freedom day gets pushed out further and further. the american people are tired of a tax code 100 years ago was a hundred pages long and is now 75,000 pages long. they're re -- ready for reform and tax code s...

Automatically? >> i'm not saying it's wrong. i'm saying i will get the sense that we will see a field of candidates outside of the conventional political establishment as a result of the credi!lity disruption that will remind us of a trip to the zoo. >> what is going to be the agenda of a third party candidate that works? >> third party candidate that works would have a strong job creation and reform package that goes to tax code simplification and investment development in this country that they could sell. i'm not saying wheat get that third party candidate. i think there is open territory. ...