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will supposedly be paid for by closing loopholes and eliminating wasteful deductions. but the republicans refuse to list a single tax loophole they are willing to close. not one. and by the way, there is no way to get even close to $4.6 trillion in savings without dramatically reducing all kinds of tax breaks that go to middle class families. tax breaks for health care, tax breaks for retirement, tax breaks for homeownership. meanwhile these proposed tax breaks would come on top of more than a trillion dollars in tax giveaways for people making more than $250,000 a year. that s an average of at least $150,000 for every millionaire in this country. $150,000. let s step back for a second and look at what $150,000 pays for. a year s worth of prescription drug coverage for a seniors citizen. plus a new school computer lab, plus a year of medical care for a returning veteran, plus a medical research grant for a chronic disease, plus, a year s salary for a firefighter or a po ....
Past few decade has said let s respond to the economic alcohol evening the same old tune. the market will take care of everything they tell us. if we just cut more regulations and cut more taxes, especially for the wealthy, our economy will grow stronger. sure they say there will be winners and losers. but if the winners do really well, then jobs and prosperity will eventually trickle down to everybody else. and they argue even if prosperity doesn t trickle down, that many the price of liberty. it s a simple theory. and we have to admit it s one that speaks to our rugged individualism. and our healthy scepticism of too much government. that s in america s dna. ....
Certain crowd in washington who for the last few decades have said let s respond to this economic challenge with the same thing. the market will take care of everything, they tell us. if we just cut more regulations and cut more taxes, especially for the wealthy, our economy will grow stronger. sure they say. there will be winners and losers, but if the winners do really well, jobs and prosperity will eventually trickle down to everyone else. and, they argue, even if prosperity doesn t trickle down, that s the price of liberty. it s a simple theory. we have to admit it s 1 to speaks to our rugged individualism and healthy skepticism of too much government. that s in america s dna. ....
Families into buying homes they cooped afford. lack of oversight nearly destroyed our entire economy. we simply cannot return to this brand of you are on your own economics if we are serious about rebuilding the middle class in this country. we know it doesn t result in a strong economy. it results in an economy that invests too little in its people and in its future. it doesn t result in a prosperity that trickles down. it results in a prosperity that is enjoyed by fewer and fewer of our citizens. ....
he is due to speak this hour, site of the 1910 address by roosevelt. you re looking at the live picture of the podium where the president will speak. the sticking point with republicans is how to pay for them. you ll hear the president live at 1:55 eastern time right here on cnn. overseas the pressure on the eu eurozone is growing, ahead of another summit, standard and porr s is threatening to down grade the credit ratings, including france and germany that now plan to call for enforcement caps on deficits. greek bonds are already junk. gop presidential front-runner mitt romney has more than newt gingrich on his back. according to a report, the former massachusetts govern ers s office spent $100,000 in state funds to remove records from his four years in office. the money was used to replace computers in his office months before romney launched his unsuccessful campaign for the nomination back in 2008. in addition, his staff had e-mails and other communication from ....