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Detailed text transcripts for TV channel - MSNBC - 20110711:17:04:00

I believe there is a way forward. the way forward is tax reform that actually reduces tax rates but does produce some more revenue because the economy is more efficient. we re more competitive. and we do away with some of the loopholes, the shelters, the exclusio exclusions, the preferences that now riddle the tax code. a lot of that was discussed by the biden group and we re talking about returning to that format, but some democrats say that the biden plan wouldn t even pass the senate. do you have 06 votes for the biden plan? no. i think look it s interesting that in the senate i believe there is support among democratings and republicans for the so-called bibb deal at least $4 trillion that s what it takes to fundamentally change our fiscal condition and get us moving in the right direction. but it does require both sides to give ground. it does require savings on the entitlement side of the ledger and revenue side of the ledger. ....

Tax Reform , Tax Rates , Tax Code , Biden Plan Wouldn T , Ibiden Group , 4 Trillion , Entitlement Side ,