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Detailed text transcripts for TV channel - MSNBC - 20171214:16:17:00

It s not true. i think the way we need to get people mobilized on that issue, it is a complicated issue. young people in this country that we are not investing in in the way our parents and grandparents invested in us. because the share of money we re spending, domestic spending is way down since 1980. at the same time we re saying to them we re going to stick you with the bill is no different than my wife and i buying a house, living in it, and telling my three daughters you got to pay the mortgage. that s what we re doing. senator and for the most irresponsible thing we could do right now. if we re going to do this, let s have a middle tax cut did. if you re saying have a middle class tax cut, have a middle class tax cut. senator, thanks very much for joining us. senator michael bennett of colorado. the senator brings up a really good point in the share of gdp that goes into investment, reinvestment, infrastructure is at the smallest it s been in ....

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Detailed text transcripts for TV channel - MSNBC - 20171214:16:11:00

Run. it is a huge tax cut for corporations and people at the very top that they are trying to masquerade as a middle class tax cut. but if you look at the numbers and i know you guys are n numerate. what he said yesterday is completely false. in the senate version of this bill which has only gotten worse in the conference, there is $34 billion that is going to the 572,000 households in this country that are fortunate to earn more than $1 million. forever. this year, next year, the year after that. there are 90 million households that earn $50,000 and below. on average they re going to see $160 cut in year one. that s the best year of their plan. which is $7.50 a paycheck. so you tell me. do you think the american people want to borrow money from our ....

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Detailed text transcripts for TV channel - MSNBC - 20171214:16:08:00

A benefit, a loophole that totally hooks up the real estate and private equity industry. you and i spoke to maybe i want to say jim two weeks ago and he said when they reconcile this thing, then we ll deal with it. your point was why would they discuss it? because neither bill dealt with it. why when putting them together would this thing come up. can i make one more point? we ve heard business leaders like jamie dimon say this will be good for the economy. the disingenuous issue is the president. the president continuously claiming it s a gift for the middle class. and saying he will not benefit. there is no nothing in here that shows or proves that the president won t benefit from the estate tax to pass throughs. and we also have to remember, we ve never seen the president s taxes. right. joining us now is senator michael bennett of colorado. he s a member of the tax writing finance committee. ....

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Detailed text transcripts for TV channel - MSNBC - 20171214:16:09:00

Thank you for being here. everything i just said and stephanie just said is based on some conjecture and rumor and information we ve been able to glean. because once again, there isn t a final bill. right. well, everything you said is i think is accurate. not only is there not a final bill. there has never been a hearing in the senate finance committee on the senate version of this bill much less the bill that s working its way through the conference committee. not a single hearing. have they made an argument as to why that is? tax cuts that you could see some bipartisanship. you re giving up the opportunity to have a joe manchin get on board. there are democrats who maybe would have wanted to play ball here. i don t think it s just joe manchin. i think you could have written a bill i ll write it on your show. cut the corporate rate to 25%. increase the child tax credit to it makes a difference for middle class families. let s do something on repatriation and spend some of th ....

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Detailed text transcripts for TV channel - MSNBC - 20171214:16:05:00

35%, the average paid by companies is 18.6%. we re not closing a lot of loopholes here to get to this 21%. and the corporate alternative minimum tax is still going to be repealed. so make no mistake, this is still a bill that favors corporations and companies and the wealthy over the middle class. a new rate for pass through businesses is going to be set at 20%. that is lower than the 25% rate that was originally planned. and among the most controversial provisions, republicans have agreed to go along with the senate version of the tax plan and repeal obamacare s individual mandate. this is wildly unpopular. the congressional budget office has estimated that just doing this could lead to 13 million fewer people having health insurance and it could cause premiums to increase 10% from where they would have gone under current law. while i ve been away, the fundamentals of this thing hasn t changed in that a tax cut ....

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