. -- eliminating special interest loopholes. your tax rate should be determined by what is fair. the simple truth is that we're in this fiscal mess because washington takes too much of your money and wastes it. that is the real problem and it needs a real solution. we have to make sure washington is accountable for every tax dollar it spends. unfortunately, the spending problem is getting worse, not better. under president obama we've had four straight years of trillion dollar deficits. our debt is over $16 trillion. we're selling the next generation's future. many of our democrat colleagues don't get it. through the fiscal cliff discussion the president and the democrats who control washington refused to take any meaningful steps to make washington live within its means. that is irresponsible and fails to acknowledge what every family already knows. when you have no more money in your account and your credit cards are maxed out then the spending must stop. that is the situation faces america. we must identify responsible ways t

>> guest: corporate tax loopholes is what they are talking about. and sometimes republicans talk about not letting them deduct the cost of of lying a home, and we would not support thatment i don't know exactly what the republican list is, but i know that mitch mcconnell said this weekend and granted the fact there's hundreds of billions of dollars to be savedded cutting corporate taxes. >> host: laura says we don't need deductions on second homes. there's room for reform. >> guest: sure. anything -- it's a matter of fairness. sometimes people talk about shared sacrifice, basically the idea that we should just set the reset, you know, push the reset button, start from scratch, and pony up, bottom line, over the last decade, there's been income inequality very profound in the country, more than it already was. the rich gets away with not paying the fair share, and the top priority is to make sure they pay their fair share, whether it's this deduction or that deduction. if it hits those in the higher income levels, that's fine. if it timely asks corpo

candidate, in september of someone who is not a candidate for elected office and we want to close that loophole. i don't see the advantage of lipting it to people who are encouraging or urging -- i mean why not just leave a1 as-is. i mean, i have another slight amendment to it. what are we worried about that required us to define what "support" means? >> i think that is a fair point. he think what you are generally saying is that if we define "support," or possibly excluding things in the definition. i think that is a very fair point. i would also just point out subsection 4 does allow the ethics commission to propose regulations and i think the reason that we put that in there, we know that to the extent there is any potential ambiguity or loophole, people will try to go there. that is just how things go. >> this whole issue came up because of a loophole, because someone found a leap hole. >> right. so i think to some extent the ethics commission has the ability to address leap hole lope holes. the only downside if we don't define "support" at all there will be the chance of zero gay and lesbi

here's how the loophole works.ou have an assault rifle, an ar-15, you want to sell, you post a sign that says private sale, as a private party who plans not to sell as a business, you are exempt from the background check requirement whatsoever, you can sell that rifle to anyone you want to. >> geraldo: 33 states, charles manson could buy t. if gun control advocates accomplish anything, it's going to be closing that gun show loophole in those 33 states. that may be the only -- the only thing they do achieve. okay, thank you, craig. coming up next, the lovely and talented jillian barbari on the price of super bowl ads and whether or not kate can convince us to buy a a a a a ♪ ♪ [ male announcer ] let's take every drop of courage, every ounce of inspiration, every bit of determination, and go where we've never gone before. ♪ introducing the radically new avalon. toyota. let's go places. so i used my citi thankyou card to pick up some accessories. a new belt. some nylons. and what girl wouldn't need new shoes? and with

that is just how things go. >> this whole issue came up because of a loophole, because someone found a leap hole. >> right. so i think to some extent the ethics commission has the ability to address leap hole lope holes. the only downside if we don't define "support" at all there will be the chance of zero gay and lesbian as of what "support means." >> if we had "support" i would define it as public action or statement or actions encouraging or urging -- i will concede that i'm hoping that my hypothetic is ridiculous and it would be interpreted in the way that we have all think it should be. >> you just built them their loophole. >> i was thinking that election makes it more restrictive. >> that was my reaction when you said that. >> the big problem we had last time, the committees kept saying we are not a campaign. we don't have a candidate. we can't be a campaign without a candidate. and the commission accepted that. but at the same time, they were raising money and spending money that had the effect of a campaign while not being regulated. >> could we solve it by having both in th

here's how the loophole works.ou have an assault rifle, an ar-15, you want to sell, you post a sign that says private sale, as a private party who plans not to sell as a business, you are exempt from the background check requirement whatsoever, you can sell that rifle to anyone you want to. >> geraldo: 33 states, charles manson could buy t. if gun control advocates accomplish anything, it's going to be closing that gun show loophole in those 33 states. that may be the only -- the only thing they do achieve. okay, thank you, craig. coming up next, the lovely and talented jillian barbari on the price of super bowl ads and whether or not kate can convince us to buy a a a a a [ truck beeping ] morning, boys. so, i'm working on a cistern intake valve and the guy hands me a locknut wrench. no way! i'm like, what is this, a drainpipe slipknot? wherever your business takes you, nobody keeps you on the road like progressive commercial auto. [ flo speaking japanese ] [ shouting in japanese ] we work wherever you work. now, t

a lot of licensed gun dealers would like that loophole to be closed. but every compromise on this contentious issue is tough, erin. >> a quick follow, here, john, before we go. the vice president said that, yesterday, that president obama could use executive order to get some of these things done. does he need that to have universal background checks or to do something else that vice president biden said today they wanted to do, which was to ban those high-capacity magazines? >> reporter: that's what's fascinating. very much an about-face, erin. these two proposals that the vice president mentioned today could not be done through executive order, they have to be done through congress. somewhat of a different message coming out of the vice president today. these specific proposals would need to go through congress. >> thanks very much to john avalon. >>> former white house deputy press secretary bill burton and co-fonder of priorities usa, a pro-obama super pac, joins me along with tim carney. bill, the vice president came out yesterday and said, we're

>> i think we can all agree everybody hates a loophole unless it's their own. interest rates went up, dividends went up, there was a medicare surtax on both of those things. the estate tax was adjusted. payroll tax affected all people in this country. medicare surcharge on income affected the wealthy and a limiting of deductions which means some wealthy lose up to 80% of their deductions. i know you can always find ways to raise taxes on people but what else can democrats touch? that was an exhaustive list. >> it was an exhaustive list, but the revenue raised was only $600 billion. and $600 billion as you said at the top of the segment is really a drop in the bucket in regards to what we need to do in getting the deficit down. so we're going to have to search for other sources. what are the other sources? for example, mortgage interest deductions, suppose you buy -- you're wealthy enough, you buy a $20 million house. you have a mortgage interest deduction of something in the order of $30,000 or $40,000 or $50,000 a year. well, should that be limited? i think th

here's how the loophole works. you have an assault rifle, an ar-15, you want to sell, you post a sign that says private sale, as a private party who plans not to sell as a business, you are exempt from the background check requirement whatsoever, you can sell that rifle to anyone you want to. >> geraldo: 33 states, charles manson could buy t. if gun control advocates accomplish anything, it's going to be closing that gun show loophole in those 33 states. that may be the only -- the only thing they do achieve. okay, thank you, craig. coming up next, the lovely and talented jillian barbari on the price of super bowl ads and whether or not kate can convince us to buy a mercedes. [ male announcer ] some day, your life will flash before your eyes. make it worth watcng. introducing the 2013 lexus ls. an entirely new pursuit. [ coughs ] [ baby crying ] ♪ [ male announcer ] robitussin® liquid formula soothes your throat on contact and the active ingredient relieves your cough. robitussin®. don't suffer the coughequences™.

there's all these loopholes. department of justice says 1.9 million applications to buy guns were rejected. people were convicted of felonies, had been indicted for crimes. how can you argue blocking won't help? that's a whole lot of people that won't die. >> i don't know if those numbers are right. either way, it's irrelevant. if you want to look at the three most recent high profile cases, i think it's clear that at least two-thirds of the examples, it wouldn't have mattered. now, the real story here, places like chicago, i'm not convinced this would matter at all. here's what i think they want. what they really want is gun registration. it just so happens that i think it's completely unconstitutional. >> let me ask you about something matt said. a lot of these horrific shootings, a lot of those causing this reform to gun policy may not have stopped by background checks. the shooting in newtown. the guns from his mother. background checks probably wouldn't have changed anything in that situation. is that releva

an loopholes for the wealthy.ely there is additional revenue we can get from closing loopholes, not rates, that was done -- dealt with at the end of the year and if we can close loopholes, shipping jobs overseas, energy company subsidies and spending cuts, tough spending cuts and as you said, we have criticism, as you know from members of our party and the president has shown he is willing to do tv things on entitlement reform, and he believes we have to reduce the deficit and we have to preserve the important programs like medicare and social security. >> chris: there is a long history of presidents running into trouble in their second term, reagan and iran contra and clinton and monica lewinsky and bush with katrina and the financial melt down, has president obama thought about this and how does he hope to avoid what most people seem to think is the single biggest problems the second term, which is variously described as hubris and presidential overreach? >> we have a history and, if you look at ronald reagan he

that's the loophole we talk about. >> that statistic is pretty bogus. it's based on a study before the background checks were put into place. so that study is highly questionable, that 45%. >> wayne lapierre never questioned that study when i brought up that point. he questioned feasibility and collecting records, but still there is a loophole that a lot of people would like to correct. >> there actually isn't the so-called gun show loophole. that doesn't exist. any licensed firearm dealer who sells at a gun show has to have a background check. it's a requirement that applies to every licensed firearm dealer. what it doesn't apply to is personal sales one-on-one. and that's true at a gun show or not. >> is this most likely the area of agreement? >> i would say this is the sweet spot in terms of actually making us safer and having a good chance of passing. this is it. right now, i'm the author of a universal background check bill. i am talking to pro gun democrats -- excuse me -- and republicans. and i think you're going to see very likelihood in the nex

but because of a legal loophole.wo major manufacturers volunteered recalled pet jerky treats made in china not because they found out what's killing dogs but because of a legal loophole. cbs 5 consumerwatch reporter julie watts explains that it still means many of the treats remain on the shelves. >> we felt we were going to lose her. >> reporter: penelope almost died after she ate them. >> she was like a member of the family. >> reporter: bengie suffered a painful death after he ate them. their owners are just two of the thousands that are shocked that chicken jerky treats made in china remain on store shelves following years of complaints that dogs are dying after eating them. >> i think it's criminal. really. >> reporter: complaints to the fda date back to 2007. but the agency says it can't recall the chinese-made products because it can't identify the specific toxin that's killing the dogs. recent tests by the new york department of agriculture, however, did identify something in the treats that the fda missed, p

that's corporate loopholes and deductions part of this deal. for the rich, well, all right--no no. even if you assumed the bush tax cuts were going to be expended we did not add money to the budget. we subtracted. we increased the deficit because we gave away so much in deductions to corporations. we told you about that in the past. $150 million to hollywood $140 million to nascar. $11 billion for just 20 companies. so who won? corporations did, of course. did we reduce the deficit? of course not. tim carney who is a conservative right up there making a good point, he has, i'll give credit where credit is due he said the white house wanted permanent extensions of a whole blue of tax credit. when they said no, the white house insisted that the exact language be included in the fiscal cliff deal. why do i tell that you? the corporate give aways were not insisted upon by the republicans. they readily agreed. they love corporate give aways but it was the white house who insisted on that. what you hear in the media is a lie. we didn't reduce the def

they want to close the loopholes. it's big oil. when they close the tax loopholes, there are special carveouts for big oil. >> maybe they should take away all these benefits for green companies they have taken out the back yes, all of the corporate tax credits. they had cuts for people like general electric. i don't think we will see the democrats looking to get rid of these tax credits. >> they need to raise the debt ceiling, but if we don't raise it without a plan to get out of debt, while the should be fired. >> even to get rid of some of the special interest tax rates,. >> if you are a republican trying to get good media coverage, you're playing the wrong bit game. that is the only time that you have leverage. if you don't raise the debt ceiling right away, it's not defaulting on their loans. the treasury secretary can cut other spending. it is basically a government shutdown. republicans have lost that in the past. but i think unless there is something that the president has to lose, you don't have any leverage in the spending

>> no, i think you have to go after these loopholes. you have to keep talking about, gee, republicans, if the deficit is the big boogie man, the big problem out there, then we have to close this deficit. and why are you going after the poor instead of people who own yachts, independent oil and gas companies, places that have huge amounts of wealth and don't need subsidies? >> david cay johnston, great to have you on "the ed show." thank you so much. >>> coming up, as we count down to another debt ceiling deadline, more republicans come out in support of a government shutdown. the gop's misinformation campaign continues. john nichols joins me with that discussion. >>> and later, the white house has a tough road ahead on gun control. now the administration is getting pushed back from some democrats. i'll talk with val demings, former chief of police in orlando, florida. stay tuned. [ female announcer ] going to sleep may be easy, but when you wake up in the middle of the night it can be frustrating. it's hard to turn off and go back to sl

the gun show loophole, is not a loophole because there is no law for there to be a loophole. there is --. melissa: what about universal background check, why would you object to that? >> depends what they're checking. currently they're checking for, you know, for crimes, things that you have done. now the president is encouraging that we create a mental health registry and people have to pass a mental health litmus test i'm dead-set against that. melissa: why are you against that? >> i think you i will give a very good reason and i think you understand. our veterans are trusted with weapons, assault, military-style weapons. in the field with their officers, with their fellow soldiers. and they may be there for four years, eight years, 12 years, 20 years. then they come back home and because they have seen a psychiatrist, they may, they may have ptsd. they come back home and lose their second amendment right. i just think that's wrong. melissa: all right. thanks for coming on. we appreciate your time. >> thank you very much. melissa: got anything? there we go. all right. up ne

it wasn't the loopholes and the way to get around the law.t is there are 300 million guns in america today. unless you take them away, which you can't under our constitution, the second amendment, you can prevent the new sales or imports or whatever. they will be around for a hundred years. therefore, you get no essential result when you do the bans, unless you want to repeal the second amendment. that i think is a tark truth. if we had an honest debate, the gun control advocates would say repeal the second amendment. and we'd have debate on that. we can't have an honest debate because you get nowhere arguing to have a repeal of the second amendment. so we have arguments about placebos. >> bret: judge, in each one of the task force meetings, to the vice president's right, attorney general eric holder. he has been advocate of doing something on guns. for a long time. here is how he phrased it back in the 1995. about the importance of this. >> what we need to do is change the way in which people think about guns, especially young people. and ma

there wouldn't be as much of an outcry over the gun show loophole if there were not a gun show loophole pellet gun is a 177 caliber pellet. and it will kill small animals -- >> stephanie: and t-shirts. >> caller: yeah. everybody is beating their chests about their gun rights. nobody is talk about solutions, and you have got to admit that all of these people that do these mass murders are crazy. >> stephanie: right. >> caller: and since i believe it's 2009 congress has withheld $1.6 billion for states for mental health services. >> stephanie: thank you, lynn i just heard someone making this point yesterday. these are the same republicans cutting mental health, and then they scheme about it being mental health and not guns and it is clearly both. >> caller: right. my solution is to have a special tax for all gun and ammunition manufacturers that would be paid directly to the state where the product is sold earmarked just for mental health services. >> stephanie: that's a great idea. that's what i mean solutions. joe biden yesterday. >> there is a surprising -- so far -- a surprising recur

all we're doing is closing that particular loophole. >> reporter: gun rights advocates say they will fight yee's legislation, just like they have before. >> it's very frightening for those of us who believe in the bill of rights to see this. >> reporter: and gene says a ban could actually have the opposite effect. >> by outlawing the bullet button, they will likely go to configurations that will allow detachable magazines, so in fact we'll have more that have detachable magazines instead of less. >> we will not be taking any of those weapons away. once the governor signs this particular bill, you'll have six months to register those particular guns. >> reporter: allen martin, cbs 5. >>> now, senator yee's bill would basically ban detachable magazines. what does that mean? someone couldn't reload their assault rifle by just putting in a new clip if the gun has other features like a pistol grip. you would have to manually add the bullets. the goal is to make it harder to reload quickly, and easier for a potential target to get away. >>> after telling you about how broke california is,

is not just closing the gun show loophole. it is also thoroughly enforcing those who transfer weapons. chief johnson, is valuable to have the input of law enforcement professionals. in book -- in your view with the background check and aggressive enforcement, would that be a waste of police resources or would that make a difference on the street? >> i have to respectfully disagree on -- with wayne on this issue. public safety, police -- we are ready. we are unified on this issue that a universal background check will make our society a safer place, will make my police officer is safer is absolutely essential. >> thank you, chief and thank- you to the panel. i will submit more questions for the record but i am out of time. >> again, another member of this committee, senator flake of arizona, we appreciate you being here. if it's any consolation, i have bad seed years ago. -- i had that seat years ago>> it is good to know and thank you for convening this and thinking to the panel for being here and offering excellent testimony.

closing the loophole is a bureaucratic nightmare. if you had your druthers, would to outlaw gun sales at the brady center? guest: absolutely not. we think there are a sensible things we can do which respect the second amendment. preventing gun violence and we should have an honest discussion about the risks of guns in the homes so people can make an informed decision. the second amendment has been construed by the supreme court to protect the right. military-style assault weapons have no place in civilian hands. law enforcement would be the first to tell you that. that does not affect hunting rifles. it presents -- prevents these mass killers from mowing down a lot of people in a short time. they are functional aspects of the gun which are only useful to engage in mass assault on people, killing a large number of people in a short amount of time. host: what role should the states play? mindaller said he doesn't registering with texas but that the federal government has any business knowing what kind of gun he has. guest: the federal

there are no loopholes. there are no easy outs. this is a matter of congress authorizes spending.order me to spend. they tell me you need to fund our defense department at such and such a level. you immediate to send out social security checks. you need to make sure that you are paying to care for our veterans. they lay all this out for me. they have the spending power. i am required by law to go ahead and pay these bills. separately they also have to authorize the raising of the debt ceiling in order to make sure that those bills are paid, and so what congress can't do is tell me to spend x and then say, but we're not going to give you the authority to go ahead and pay the bills. i just want to repeat because i think sometimes the american people understandably aren't following all the debates here in washington. raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. the consequences of us not paying our bills as i outlined in my openings statement would be disastrous. so i understand the

there's plenty of loopholes whether shipping jobs overseas who get preferential tax treatment. the subsidies to the energy companies. loopholes for, you know, billionaires, there are things we can close here to make -- >> you're no deal if they don't -- >> we need balance, george. we need spending cuts and revenue. have to have that. >> let me talk about immigration. the president has identified immigration reform as another top priority of his second term. you mentioned it again. marco rubio has been taking the lead and jay carnie, the white house press secretary had positive words about his proposals this week. but marco rubio said this week on bill owe rile we'll show the president hasn't reached out. take a look. >> they never talked to us about it and the truth is the way our republic is designed the president can design whether to sign or not. >> you're a leader. shouldn't the president be conferring with leaders in the house and senate? >> well, we'll be more than happy to -- >> he hasn't called. >> no. >> why not? >> there's going to be a debate and process over immigra

the loophole allows unlicensed sellers to sell weapons without a background check.resident obama asked for the task force after the shooting in newtown, connecticut last month. >> there has to be some common ground here. >> reporter: after the meeting with hunting and outdoor sports groups, biden met with the nra. vice president biden will meet with representatives of the video industry on friday. >> the nra released a statement after meeting with biden saying, quote, we were disappointed with how little this meeting had to do with keeping our children safe and how much it had to do with appear agenda to attack the second amendment. >>> d.c. council members are going to the white house to ask a big favor from president obama. what this -- it has to do with the inauguration and a long fought fight in the district. >> new numbers show just how much cash d.c. is pulling in from the speed cameras. first, let's talk to tucker barnes. >> we have clouds moving in and eventually some rain showers. later this afternoon, you will want an umbrella. we'll have all the details o

why is there a loophole for gun shows? i don't get it. if you're supposed to have a background check everywhere else, this is one of those things, you know? like you're not partially pregnant. >> right. i think this has been a little bit overblown. if you buy a gun at a gun show from someone who is a business, they have to do the background check, but i think the bigger issue is individuals. so like right now, an uncle could sell a shotgun to his nephew and there's no records of that and no background check of that. i think a lot of americans think that's perfectly fine and not a horrible thing. but that is really i think what they're aiming at closing here. i think if the obama administration wants to accomplish something, i think they've -- >> hold on. let me interrupt you there. it isn't just political. because the polls, we just did a poll here at cnn. americans. 92% say there should be background checks in gun stores. 87% on gun shows. the first three words of the constitution are we the people. that comes before, the second, i don't

they're walking the street. >> back in 1999, you said no loopholes anywhere for anyone. but now you do not support a background checks for all buyers of firearms? >> the system the way it is working now is a failure. this administration is not prosecuting the people they catch. 22 states are not even putting the mental records of those adjudicated incompetent into the system. if they try to buy a gun, even if you catch them, and they try to walk away, you let them. they are criminals, homicidal maniacs, can't mentally ill -- and mentally ill. we all know that, maniacs and the mentally insane do not abide by the law. >> my time is up. with all due respect, that is not a question i asked. nor did you answer it. >> but i think it is the answer. i honestly do. >> it is your testimony, senator grassley. >> before i ask a question, senator hatch asked if i would explain to everyone here why he left purdum he is a member of the -- why he left. he is a member of the financial committee and he has to be there for that. professor crapo compean -- professor kappel, was the 1994 ass

why in the world should they start identifying loopholes?ecause we're going to filibuster the thing anyway. we're never going to be forced to show what i think loopholes ought to be closed as far as getting more tax revenue into the system. so they are doing a real classic move here of protecting the corporations and protecting the wealthy. now, another subject i want to bring up with you, senator tonight. today you came up against the president's nominee for treasury secretary jack lew. why did you do that? >> well, jack is a decent guy. he's a smart guy. he's been in public service for a long time. but frankly, i am really tired of the president, and i support the president, continuing to appoint folks who come from wall street. we need people at the -- in the treasury department, secretary of treasury, who are going to have the guts to stand up to wall street. to ask why we are not, for example, breaking up the six largest financial institutions, ed, that have assets equivalent to 2/3 of the gdp of the united states. to ask questions abou