let's close loopholes so we stop rewarding companies that

let's close loopholes so we stop

eliminates a loophole for goods and closes the door on other wasteful loopholes that make her tax system unfair uncompetitive and overly complicated. this can only be done through legislation. the president's plan is a carefully constructed plan and provides a basis for winning bipartisan support. to that end i look forward to continuing the conversations with senators hatch and wyden representatives ran in lebanon to make progress on reform. there's a great deal of overlap between the president's framework and republican proposals including the one advanced by the former chairman of the ways & means committee former representative david -- and the present proposal would use temporary revenue created by tax reform to rebuild their nation's roads bridges and ports. we know from past experience that switching to a new tax system will generate one-time transition revenues. the president's plan would use a portion of the temporary revenues to pay for long-delayed investments to upgrade or our infrastructure helping to address the funding gap we face from transportation water and electricity

it eliminates the loophole for good and closes the door on other wasteful and inefficient loopholes that make our tax system unfair, uncompetitive and overly complicated this can only be done through legislation. the president's plan meets this test. it's a carefully constructed plan and it provides the basis for winning bipartisan support. to that end, i look forward to continuing conversations with senators hatch and widen representatives ryan and levin to make progress on reform. there's a great deal of overlap between the president's framework and recent republican proposals, including the one advanced by the former chairman of the ways and means committee, former representative david camp. and like that plan, the president's proposal would use temporary revenue created by tax reform to rebuild our nation's roads, bridges, and ports. we know it will generate one-time transition revenues. the president's plan would use a portion of this temporary revenue pay for long-delayed one-time investments to upgrade infrastructure helping to address the funding gap we have to meet our long-term

let's simplify america's outdated and loophole-ridden tax code. republicans think tax filing should be easier for you, not just the well-connected. so let's iron out loopholes to lower rates -- and create jobs not pay for more government spending. the president has already expressed some support for these kinds of ideas. we're calling on him now to cooperate to pass them. you'll see a lot of serious work in this new congress. some of it will occur where i stand tonight, in the armed services committee room. this is where i'll join committee colleagues -- republicans and democrats -- to discuss ways to support our exceptional military and its mission. this is where we'll debate strategies to confront terrorism and the threats posed by al qaeda, isil, and those radicalized by them. we know threats like these can't just be wished away. we've been reminded of terrorism's reach both at home and abroad; most recently in france and nigeria, but also in places like canada and australia. our hearts go out to all the innocent victims of terrorism and their

it would lower the corporate tax rates to 28% by eliminating loopholes. an idea republicans have talked about in the past. exposing optimism today. >> in 1986 we proved when you get together on a bipartisan basis to do things where you were helping the whole country you can have a louder voice than the individual a voice to protect the status quo. i'm optimistic we can reach an agreement here. >> as optimistic as we have heard jack lew on the subject of business tax reform. he set aside the notion of anything doing with the individual tax rates. some republicans are still optimistic that progress on business tax reform can happen. >> peter cook joining us live from capitol hill. jon huntsman is the former governor of utah and now chairman of the atlantic council and he joins me from salt lake city. welcome back to "bottom line." mohammed olli rehn is the chief economic advisor at all caps -- mohamed el-erian is the chief economist advisor at all you iant. >> what he is focused on more than anything else is laying a foundation for his legacy. he can use th

when it's called the trust fund loophole it sounds different, sounds like something you would want to support. to that end he wants to take into account that there are childcare tax credits and middle class tax cuts that would come out of that as well. when you look at the trust fund loophole you are looking at something that is hard to get behind for anybody running for office and certainly someone in congress to do that independent of itself. there is financial reform that has to come into play. that will come in terms of looking at the banks, and how much money the banks will be - banks with assets of $50 billion, will have to pay tax. these are strong fighting words, liberal fighting words and will not play in the republican controlled congress it's meant to have them say "hey we don't want to play like that." the republican response is said to be a smart move. >> ahead of the state of union address, al jazeera polled minister on their thoughts. we asked a university and asked over 1,000 about the economy, education and other things. we asked them to tell us what worries them. the

it would become known as the gun show loophole. >> columbine is really the ultimate nightmare. because columbine really brought to the surface the idea that a couple of disturbed teenagers, if they want to on any given weekend, can go to a gun show and assemble the weapons they need to go and take over the school and start shooting everybody. >> at the colorado state capitol the anguish over the columbine massacre turned to protests. >> narrator: in the wake of the shootings, thousands of protestors marched in denver demanding that something anything be done. >> 8,000 strong, they targeted the national rifle association. >> narrator: daniel mauser's father joined them. >> i had a sign made at a sign shop with daniel's picture on it, and words, "my son died at columbine. he would expect me to be here today." >> narrator: the protestors had a familiar target: the guns. >> something is wrong in this country when a child can grab a gun so easily and shoot a bullet... into the middle of a child's face as my son experienced. (applause) something is wrong. >> the national rifle associ

. >> let's close the loopholes that lead to inequality by allowing the top 1% to avoid paying taxes on their accumulated wealth. (laughter)

let's close the loopholes that lead to inequality by allowing the top 1% pay on accumulated wealth and help to pay for

not only we have 35% corporate tax rate also tremendous abuse of loopholes. sort of breeds this kind of crony capitalism. it makes, sort of throws things out of whack again. i'm with john in think idea to stop thinking of corporations as these anonymous sources. burger king or google what it really is is employees. it's shareholders. customers that are feeling the burden. i think that i'm with steve as well. that we want to try to elimon-aid this but make it part of a larger tax reform effort. >> rick, this segment, after all, your idea. you're for complete abolition of the tax code. right? i'm kidding! >> i'm against you all. here's what we have to get to. we immediate to have an honest conversation. yes, we should not have the highest corporate tax rate in the world. >> we have nothing but honest conversations here. >> no no. i don't mean us. i mean the congress public, et cetera. here's the problem. we have to take our effective tax rate. we know some big corporations -- by the way john a republican candidate said corporations are people, too, and we forge

taxes as long as everybody else does, too, but for far too long lobbyist have rigged tax codes with loopholes that let some corporations pay nothing.

loopholes that let some corporations pay nothing while others pay full freight. this year, we have an

and close the loopholes allowing the top 1% to pay taxes. we can use that to pay for child care and help send kids to college.

but for far too long lobbyists have rigged the tax code with loopholes to let some corporations pay nothing while

. >> let's close the loopholes that lead to inequality by allowing the top 1% to pay taxes on their accumulated wealth. we can use that to help more families pay for child care and send their kids to college. >> was the message to the middle

let's close loopholes so we stop rewarding companies that keep profits abroad and reward those that invest here in america. [applause] let's use those savings to

. >> let's close the loopholes by allowing the top 1% to avoid taxes on their accumulated wealth. we can use that to help more families pay for child care and send kids to college. >> it looks like this is political theater.

rigged tax codes with loopholes that let some corporations pay nothing. they are riddled with giveaways the super rich don't need while denying breaks to the middle class families who do. >> the u.s. president is bruised after losing midterms in november to republicans, who now control the house and senate. his polls are up.

. >> let's close loopholes so we stop rewarding companies that keep profits abroad and reward those that invest here in america. >> but my next guest says the president missed a huge opportunity to champion corporate tax reform and that

. >> loopholes lead to inequality by allowing the top 1% to avoid paying taxes on their accumulated wealth. we can use that money doubt more families pay for childcare and send her kids to college. >> joining us to discuss the

. >> and let's close the loopholes that lead to an equality by allowing the top 1% to avoid paying taxes on their accumulated wealth. we need that money to help families pay for child care and send kids to college.

. >> let's close the loopholes that lead to inequality by allowing the top 1% to avoid paying taxes on their accumulated wealth. we can use more money to help families pay for child care and send their kids to college. we need a tax code that helps working americans trying to get a leg up in the new economy.

let's close loopholes so we stopped reporting those that keep prophets of god -- keep

obama: let's close the loopholes by allowing the top 1% to avoid taxes. we can use that money to help with child care and send kids to college. >> it looks like a lot of political theater. he's chosen things that

. >>> let's close the loopholes that lead to inequality by allowing the top 1% to avoid paying taxes on their accumulated wealth.

. >> let's close the loopholes that lead to inequality for the top 1% to avoid paying taxes on their accumulated wealth. we can use that money for child care and to send our kids to college. >> reporter: he also promised

but for far too long lobbyists have rigged the tax code with loopholes to let some corporations pay nothing while others pay full freight. they've riddled it with give aways that the super rich don't need while denying a break to

. >> but for far too long, lobbyists have rigged the tax code with loopholes that let some corporations pay nothing while others pay full freight. >> ifill: and of his plan to raise the minimum wage. >> if you truly believe you could work full-time and support a family on less than $15,000 a year, try it. if not, vote to give millions of

. >> for far too long, lobbyist has rick the tax rolls with loopholes with operations to pay zero. for others piffle print--others

>> and lest close the loopholes that lead to inequality by allowing the top 1% to avoid paying taxes on their accumulated wealth. we can help use that money to pay for community college.

obama: let's close the loopholes by allowing the top 1% to avoid taxes. we can use that money to help with child care and send kids to college.

but for far too long, lobbyists have rigged the tax code with loopholes that let some corporations pay nothing while others pay full freight. they have riddled it with

[ applause ] and let's close the loopholes that lead to inequality by allowing the top 1% to avoid paying taxes on their accumulated wealth. we can use that money to help more families pay for child care and send their kids to college. >> and whether it's taxes education, infrastructure, net neutrality, the argument today is that he doubled down on liberal legacy. >> clearly.

. >>> let's close the loopholes that lead to inequality by allowing the top 1% to avoid paying taxes on their accumulated wealth. we can use that money to help more families pay for child care and send their kids to college. >> that sounds sensible and

loopholes aside, there is agreements from almost all sides that the statutory tax rate of 35% is too change. >> the u.s. has stood still on the rest of the world as very vigorously competed for corporate investments. many are 20% or lower. there is much competition out there. >> it's why more u.s. companies are using a technique called inversion. that's when a u.s. corporation agrees to become a subsidiary and pays a rate at a lower rate to that of the united states. now both sides don't sound that far apart. president obama agreed to cut it to 28% in 2012. republicans wanted to slash it further to 25%. if both sides are willing to come one a compromise, corporate tax return is one of the few bright facets . >> punishes business he investing here and reward companies that keep profits abroad. >> republicans won't support the president for changing the personal tax code. without any movement towards that the president is now proposing a tax like on the richest 1%, but that's also a plan that's likely to go nowhere in this congress. bernie becker is a tax reporter for the hill a washin

. >> let's close the loopholes that lead to in equality by allowing the top 1% to avoid paying taxes on their accumulated wealth. we can use that to help more families pay for child care and

. >> let's close the loopholes that lead to in equality by allowing the top 1% to avoid paying taxes on their accumulated wealth. we can use that to help more families pay for child care and send their kids to college. we need a tax code that truman helps working americans trying to get a leg up in the new economy.

close the loopholes that lead to