u.s. corporations get the biggest benefit, lower to middle income people don t get much of a benefit at all. there s nothing in it that benefits the middle class, does it depend on how one defines the middle class? there are certain areas of the tratat that would get some modest income breaks on this but it s really not designed the way its currently constructed to cut taxes. if you make $66,000 a year you ll get a $660 tax break. if you make $730,000 a year you ll get something over $100,000. you re not going to get much of a break. the committee for responsible federal budget says the tax plan will cost $2.2 trillion over ten years and the tax policy center says it s 2.4 trillion. how does adding this to the deficit help? well, it could. if we were in a situation where
businesses get lower, our property tax to be honest the conservatives don t like this because they d like it to be more bold. i think we could be more bold and dramatic for the middle class but i think they re worried about it already. the implications are going to be high. let me ask you about the deficit. the tax policy center it s a nonpartisan organization, they estimate this tax plan is going to cost $2.4 trillion, why do republicans seem to be okay now with adding to the deficit? i think they want to see growth, they want to see something come out of that. we ll be facing this again. we ll look at the debt ceiling and the deficit as we move forward into the december because we delayed that, the passage of that. i am a fiscal conservative. i would like us to continue to work on bringing down the debt. i think we need to work on the deficit but i think tax relief gives the middle class a chance. there s a few other things in this. it s not just it s not just for personal in
with regard to health care, this is not a failure. this is on the hands of u.s. congress. we are not operating cohesively. we have to get together. democrats, conservatives. everybody has to get together to solve this. health care will collapse. obamacare is collapsing under its own weight. alisyn, my home state, we have 96 county out of 159. some have one care carrier in the private sector. if that goes away, what do they do? yes. senator, let me ask you about the taxes. the president will make announcement this week. if he lowers the tax rate from 35% for the corporate rate to 15%, the tax policy center says that grows the national debt and revenue by $2.4 trillion over ten years.
attacked the wall. he says first we don t need it. the flow of mexicans, have gone back home. in other words we re losing mexico. they re going back home, mr. trump s wall will only slow down their departure. 60% of americans opposed it in the quinnipiac poll, every single member of congress, republican, democrat alike whose district that wall would go through opposes it. and finally, he s got a higher priority, yeah, he said that on the campaign trail, but his higher priority which he s already outlined is a massive tax cut for corporate america. 2.4 trillion for wall street fat . the number of people crossing over into the united states has dropped dramatically. the extension of time lines, are we witnessing the same thing
the point is a high rate with complexity is what saps economic growth. [ overlapping speakers ] i think we have to be extremely careful to buy into any of this. no tax cut has ever paid for itself through growth. that aren t to say there aren t some growth things we should tap, but according to the analysis i ve seep so far, this proposal would lose $2.4 trillion over ten years by taking the rate down to 15%. you lose another $1.5 trillion by having this pass through loophole which goes down to 15%. that also helps donald trump. and this loophole you re talking about, these s corporations, these are also hedge funds.