and we pay for it almost the way ronald reagan and bill bradley did 20 years ago, by cleaning out all these exemptions and credits and deductions that essentially go to the special interests. now, we ve been told, judd, that there s a great populist wave out there right now. but you re saying let s cut taxes for corporations. why? well, because the way you create jobs in this country is you get people to go out and take risks. so if you reduce the rate of taxation for people who are taking the risk, then you re going to grant more expansion in the economy. by the way, most americans don t realize it was even a surprise to me a couple of years ago the first time i heard it, our corporate tax rate is much higher than france s, germany. it s the second highest tax rate in the industrialized of the industrialized community. what does that do to competition across the world? well, it means that american business has an incentive to go overseas. and it means foreign business
the lowest level since 1982 last month, joe. i think whole country is focused on job, obama said i m going to pivot to jobs. he s pivoted back to health care reform and going to turn this into a session of dr. killdare meets the party of no tomorrow morning. it s going to be a big photo op. i m not sure this going to pass, i agree with sam. it s going to have trouble in the house and be close in the senate. they may be inching closer, i just talked to john ayers with politico walking in, he said things are shifting by the moment. so a pretty exciting couple of days. i look forward to watching that event tomorrow. let s check in with willie geist live in vancouver with the headlines there. there s a lot going on for team usa today. but i have to show you this awful story last night. this guy, the dutch speed skater in the 10,000 meters. he s cruising along on his way to a gold medal.
rewarding their ceos for a record-breaking year? you know, frankly, in some of the cases if they paid back their money and they re out of debt, i really don t, quite frankly, because joe, a lot of these guys got some real hot shots there. and these guys can move from one bank to another. if you don t give them the big bonuses, they re gone. so i don t have a problem if they d pave back all the taxpayer dollars. do you think that s where most americans are? that if you paid us back, okay, you made a lot more money this past year than we re comfortable with, but give the bonuses out because we don t owe you anything. sure, we shouldn t live in a socialist country. i sound like i m on another network. what, abc? those socialist rants drive me crazy. but we should also recognize how these banks are making that money. because i ve asked they re making it on the spread. they re borrowing money from the federal government at 0%, and then they re lending it out and charging people 20
and i put together, we re reducing the tax rate on corporations to 24% by eliminating exemptions and deductions and say come to the united states. create jobs here. and if you re an american business, stay here and create jobs because your tax climate is going to be much more positive for you than to go to a european country or asian neighbors who have a tax rate below those countries. and so we create an incentive to create the jobs here. ron, is there any chance that other democrats will follow your lead? will the white house possibly follow your lead? i m hopeful. and the fact is, i had an earlier version of this approach. we made a lot of changes. rahm emanuel was a sponsor of that in the house. and i think ultimately we can say this is a jobs program. the tax code right now, folks, is about creating incentive to take jobs out of the united states. pat has talked about this. there s something called deferral which, in effect, an american company making money overseas can sit on
the bipartisan majority in the house, all the republicans and 40 democrats is against health care. the point is the congress of the united states as of right now is not reflective of a center right country. it is a left wing congress and you now have a center right country. but that s the problem. but pat, that is a problem but you don t make that decision in between elections. we have elections every two years. exactly. the democrats are in charge right now. i agree with you, joe, put them right on the line, make them come down in the well, speak up, let me denounce this health care thing. but also let them have amendments, if you re right, make it a center right bill, but let s do that rather than just say no or yes and throw it out. but listen to you all, think of yourselves as somebody watching right now who is one of the many, many people out there who we saw in these unemployment numbers that we talked about in the past half hour who are looking for work and don t eve