Outset, the president and hicksf millionaires are illustrating a middle class con job and im going to be very specific as to why i reach that judgment with respect to what theyre saying about taxes. Now the president said, i dont benefit, very, very strongly. I think theres very little benefit for people of wealth. Those are the president s exact words. He also said its not good for me, believe me, the president said in a speech unveiling the tax reform blueprint on wednesday. Now unless the president pays zero tax, the president is going to benefit enormously from his tax plan. His family would save billions if the estate tax is eliminated as hes proposed. His more than 500 passthroughs will be able to take advantage of the new grand canyonsized passthrough loophole that his plan proposes. Based on his 2005 tax return, thats the only one available, the president would save millions each year if the alternative minimum tax is eliminated. Now today the president and his the president s
Well, the committee will come to order. The purpose of this afternoons session is to discuss the details of the chairmans mark. Were not here to speculate about items that may or may not end up in the house bill. Were not here to debate items that are not currently part of the chairmans mark. Because as of now there is no official or final version of the modification. As i made clear this morning, we are still working to finalize the details of the modification. When that work is done, the details will be provided to the committee with ample time to go through them. After that, most likely tomorrow morning we will have another walk through that gives members an opportunity to discuss and ask questions about the modification. Long story short no one needs to be talking about the individual mandate at this point. Its not part of the mark. Arguments, questions, or statements about the individual mandate are a distraction from the meeting were having now and, frankly, a waste of this commi
Materials used in explosives they look like cocaine a white powder. Reporter 7 bay area airports screeners face similar charges. I think we need to take a close look at how were hiring tsa people, how theyre screened, what kind of background investigations are done and all of this costs money. Reporter kianna clark was a tsa screener at Oakland International airport. In a few days she starts a 21 month sentence for smuggling these suitcases filled with marijuana through security. In all, she allowed more than 200 pounds of marijuana to pass through her xray screener in carryon bags. I dont believe this is an isolated incident at sfo or oakland. I think what will happen here is tsa is going to have to take a hard look at what theyre doing across the country. Reporter the six screeners who work here at sfo and are facing charges work for a private Company Called covenant aviation security. They are contracted to do screening work at sfo. Over at Oakland International airport, those are a
The committee will come to order. Welcome to our first hearing of the day. We discussed the ongoing effort to reform our tax code. We have a distinguished panel of experts to help shed some light on the issues surrounding tax reform. I look forward to a productive discussion and appreciate your attendance. In 1984 resident reagan called for reform of the tax code. He laid out three main goals for tax reform. Fairness, efficiency and simplicity. Those three goals are as relevant today as they were a generation ago. American competitiveness is essential in todays Global Economy we must consider whats happening outside our borders. Addressing tax policy or legislation is very easy to find oneself. I think we would do well to keep focus and frequently remind ourselves of these basic principles. I will repeat them. Fairness, efficiency, simplicity and american competitiveness. The Tax Reform Act of 1986 is generally considered to be a great success. One question people should ask themselves
The committee will come to order. Welcome to our first hearing of the day. We discussed the ongoing effort to reform our tax code. We have a distinguished panel of experts to help shed some light on the issues surrounding tax reform. I look forward to a productive discussion and appreciate your attendance. In 1984 resident reagan called for reform of the tax code. He laid out three main goals for tax reform. Fairness, efficiency and simplicity. Those three goals are as relevant today as they were a generation ago. American competitiveness is essential in todays Global Economy we must consider whats happening outside our borders. Addressing tax policy or legislation is very easy to find oneself. I think we would do well to keep focus and frequently remind ourselves of these basic principles. I will repeat them. Fairness, efficiency, simplicity and american competitiveness. The Tax Reform Act of 1986 is generally considered to be a great success. One question people should ask themselves