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Detailed text transcripts for TV channel - MSNBC - 20110731:14:54:00

being part of the second round of budget cuts? probably not. look this bipartisan commission will come back with two things. they ll say we have to reduce our expenditures or have to raise revenue. as we know, the tea party pretty much has said no new taxes. however, the republican party may wiggle a little bit on loopholes and on enhancement fees. that s where you ll see republicans give a little bit. we want to close loopholes. i was going to say, closing on whom? the ones the democrats want them to be closed on? maybe corporations, perhaps big oil and oil and so forth, but secondly, also on high-income individuals that perhaps may i wouldn t say abuse the tax system, but use loopholes to tax advantage. republicans will probably give on that a little bit. is that enough, karen? i don t know that it is. there is such a lack of trust within the gop caucus, democrat

Detailed text transcripts for TV channel - MSNBC - 20110731:14:54:00

entitlement refoorm and tax reforms. robert, will republican as free to possible tax increases being part of the second round of budget cuts? probably not. look this bipartisan commission will come back with two things. they ll say we have to reduce our expenditures or have to raise revenue. as we know, the tea party pretty much has said no new taxes. however, the republican party may wiggle a little bit on loopholes and on enhancement fees. that s where you ll see republicans give a little bit. we want to close loopholes. i was going to say, closing on whom? the ones the democrats want them to be closed on? maybe corporations, perhaps big oil and oil and so forth, but secondly, also on high-income individuals that perhaps may i wouldn t say abuse the tax system, but use loopholes to tax advantage. republicans will probably give

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