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>> you and i both hate hypocrisy and i think we want government to look for people and we are seeing obviously a lot of money come into the federal nearly, i grew up in illinois, a place that's covid in they haven't gotten their fair shake fair share in this you left behind. the problem is middle america and people who don't have good boys and good accountants are paying the most so what you see is people paying their fair share paid a lot. i would be for a flat tax so everybody pays the same% if they actually pay her taxes because the problem is, we see this with warren buffett pays less and ...

>> you and i both hate hypocrisy and i think we want government to look for people and we are seeing obviously a lot of money come into the federal nearly, i grew up in illinois, a place that's covid in they haven't gotten their fair shake fair share in this you left behind. the problem is middle america and people who don't have good boys and good accountants are paying the most so what you see is people paying their fair share paid a lot. i would be for a flat tax so everybody pays the same% if they actually pay her taxes because the problem is, we see this with warren buffett pays less and ...

To write them off and they're able to write off almost the entire purchase price of the team. >> they rise in value a lot. so how much money is the government losing by allowing these write-offs to exist? why on earth are they letting this happen? >> so take steve ballmer, for example. we found that during a recent five-year span he reported $700 million in losses from the clippers. what that means is that he was able to pay about $140 million less in taxes. that number is inevitably only going to grow and probably grow dramatically. what this tax treatment does for owners, essentially it allo...

Profits from other ventures and they don't have to pay taxes on them. >> okay, this is completely insane, because we're sitting here looking at an infrastructure deal and how we're going to pay for it and talking about taxing rich americans, families whose household makes $400 grand or more. these team owners blow their nose with 400 grand and they are not paying taxes legally. are there any lawmakers pushing to close these loopholes? if so, how do we do it? >> so one type of response we got from owners was, look, if you take away the amortization benefit, the entire american economy is going ...

Jail time. so there is a whole wide range depending upon the extent and the severity, and the dollar amount of tax fraud that we are talking about. >> adam, the trump team says that it is a witch hunt, and that is itself not anything new or noteworthy, because he says that about everything, but he says that the manhattan d.a. office has never pursued a case of malfeasance like this. is that true? >> i don't believe so. we don't know what the nature of the charges are or the nature of the contact that understand lies the charges. it is typical to go for fake deductions or write-offs or payroll ...