system, the highest earners more able to leave will move to florida or texas or other low-taxed states. the fear, they ll lose those people. there are two ideas starting to take shape. first relates to the income tax side. the idea, switch from an income tax to a payroll tax. the weird thing about this bill is that companies can still deduct state and local income taxes. the idea, run the tax through the company. the company takes the deduction, passes it along to the worker. the worker still pays the same tax, gets the same deductions but flows through the company. that s on the income tax side. on the property tax side, what they re talking about is either transferring the entire school system of a state or parts of state government into a charity. so like in the case of new jersey, say about half of your property taxes go to the school system. the school system becomes a charity. you deduct half of your local taxes into a charitable deduction. you get a state tax credit and
four times as many people sign on in november. republicans want to repeal it, they could. frayed once people get it they re not going to want to give it up. they will like it like they like medicare and medicaid. what s critical people who enroll. they need the young healthy types to sign up. to-to-support the old sick types. premiums are going to start spiking next year. i don t want to do that i don t want it do that because i think we should let it unfold. we have been on the record now. colmes thinks it s going to work. krauthammer, rove and i don t. it s four against one. those are all the people in america, too, right? that s everybody? no. but the people polled are against you as well. the folks are against. you let me point out many among those polled some of them want a more progressive system like you are talking about in canada. a third of those against it the gallup poll and pew poll want a more progressive and liberal system. if that were the case then pres
four times as many people sign on in november. republicans want to repeal it, they could. frayed once people get it they re not going to want to give it up. they will like it like they like medicare and medicaid. what s critical people who enroll. they need the young healthy types to sign up. to-to-support the old sick types. premiums are going to start spiking next year. i don t want to do that i don t want it do that because i think we should let it unfold. we have been on the record now. colmes thinks it s going to work. krauthammer, rove and i don t. it s four against one. those are all the people in america, too, right? that s everybody? no. but the people polled are against you as well. the folks are against. you let me point out many among those polled some of them want a more progressive system like you are talking about in canada. a third of those against it the gallup poll and pew poll want a more progressive and liberal system. if that were the case then pres
release your income tax so the people can see how you made your money. we know why releasing is so hard for mitt. rom nay pays a tax rate closer to 15%, and part of the reason why it s a loophole. not only legal, but pretty standard, but it doesn t feel fair and square. here s the bottom line. he was the founder and partner in bain capital. when you re a partner in a private equity firm, you get a cut of the profits you make. usually, 20%. now, stay with me because what happens here adds up to tens of billions of dollars in lost tax revenue for america. say my buddy, will, you ve probably heard me talk about him. works at cnn. say he invests $5 million in bain capital. and mitt romney, as he has done, does a really good job. he invests will s money well. so a year later, will s investment doubles in value to $10 million. ding, ding, ding, ding, ding. mitt s cut, $1 million. and that money is taxed at 15%. now, the reason this is unfair is that it wasn t mitt romney s money
happened in that tax return. let s go outfront. good evening. i m erin burnett, outfront tonight, mitt s taxes. now, romney is caving in to the mounting pressure. i think both president obama and hillary clinton released their taxes in 2008. just strikes me that governor romney ought to step and follow the same procedure. i don t know what my effective rate of tax is, but i m fairly confidence it s a lot higher than 15%. mitt, we need for you to release your income tax so the people can see how you made your money. we know why releasing is so hard for mitt. rom nay pays a tax rate closer to 15%, and part of the reason why it s a loophole. not only legal, but pretty standard, but it doesn t feel fair and square. here s the bottom line. he was the founder and partner in bain capital. when you re a partner in a private equity firm, you get a cut of the profits you make. usually, 20%. now, stay with me because what happens here adds up to tens of billions of dollars i