July 9 (Bloomberg) -- Steve Forbes, chairman and chief executive officer of Forbes Inc., talks about tax policy, and the impact of Spain's 10-year debt yield on the U.S. stock market. Forbes speaks with Trish Regan and Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg)
Side with us, or lose a house. That’s essentially what Gary Thomas, president-elect of the National Association of Realtors, was saying this week at the Republican convention when he warned against the elimination of the mortgage-interest deduction.
Texas Governor Rick Perry’s tax plan is an attempt to solve a problem that no Republican has yet overcome: how to make a flat tax politically palatable. The result he came up with is a proposal that is neither flat nor attractive.
In early 2001, Paul O’Neill, the new Treasury secretary, began work on a plan for radical tax reform. He wanted simpler forms and fewer deductions, which would make it easy for people to prepare their taxes and cost the government less to process them. He presented a five-inch-thick binder of research to a senior White House official.
Vice President Joe Biden, seeking to repair damage done by President Barack Obama’s subdued debate last week, gave an assertive performance while clashing with Representative Paul Ryan over the direction of the U.S. economy, foreign policy, Medicare and taxes.