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Detailed text transcripts for TV channel - FOXNEWS - 20110307:21:26:00

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it is $16 billion. if they got around all of them it is $16 billion. >>neil: but i look at that $16 billion is like the gateway drug to get the votes for bigger pieces of legislation. >>guest: that is always the case since first i started to do the budgets in 1983. we have to get rid of earmarks but that is $16 billion and there are $1.1 trillion worth of earmarks in the tax code each year. those are what we need --. >>neil: will the taxes have to go up? >>guest: actually, tax rates will go down. if we are smart we will broaden the base, simplify the code get rid of the tax expenditures and we will use the money to bring down rates. we did, we were able by getting rid of tax expenditures to take rates to 8 percent and 14 percent and 24 percent. >>neil: but the rip -- rich

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