even get back to it. it s moving probably 8, 10 miles an hour across the ground. so, you know, god help us. that s all. that s all we can do right now. [ sirens ] a whole different story in the east. remnants of tropical storm lee sweeping through the area. the storm left one person dead in mississippi, knocking out power to thousands all across the south. stocks deep in the red. the dow fell more than 250 points just after the opening bell. right now still hanging down. new concerns about europe s debt cries and the global economy weighing on investors. u.s. stocks plunged friday after a disappointing report showed no growth in jobs in august. two convoys of libyans allegedly loyal to gadhafi have fled to niger. a source says six high-ranking libyan officials were in one of those convoys. still no sign of gadhafi themselves. nato officials say it s to keep the libyan people safe an not to target the regime leaders. it s the first dahl day of the new job for general pet
members of congress this coming week. it will really have to be something extraordinary to call that many members together. other gop candidates also speaking out on jobs and the economy. the front-runner, texas governor rick perry, said the president has spread what he calls economic misery uh across the country. mitt romney plans to unveil his own jobs package on tuesday, two days before the president speaks. and john huntsman of utah says the u.s. needs to come together on an economic plan. today we are divided, and it is totally unnatural, unamerican for us to be divided as a country. we will not be able to get our act together as we improve our economy and get back on our feet. i put forward a specific list of proposals, and i think that s unlike anyone else in the race. huntsman is proposing a major tax overhaul, and an over haul of the tax code that would include eliminating the home mortgage deduction.
is it quid pro quo here if republicans would be lured enough with lowering the corporate and personal tax rates to say, okay, we will relent on the tax breaks in ending those because it would be sort of a soviet affect. what do you think? chris: well it would be hard for republicans to turn down and even a conservative platform like the editorial page of the wall street journal said this week that if you could lower tax rates and the basic idea is this, there is $1 trillion each year that the government spends in tax expenditures and that is the various tax breaks, where they give money, you know, for instance, when you get a home mortgage and that is a tax expenditure, a home mortgage deduction or charitable deduction or a tax break for ethanol or corporate jets, things like that, and the idea is, if you did away with a lot
in tax expenditures and that is the various tax breaks, where they give money, you know, for instance, when you get a home mortgage and that is a tax expenditure, a home mortgage deduction or charitable deduction or a tax break for ethanol or corporate jets, things like that, and the idea is, if you did away with a lot of the tax breaks and the deductions, or at least limited them, then you could lower the rates, lower the tax rate from 35 percent to 28 percent, maybe even 24 percent. that would be hard for a conservative to turn down, the idea you will protect these tax deductions and tax breaks . when the president is offering to lower tax rates. so, that would be absolutely the way he would try to get them to do it. is it revenue neutral? or is the president, he would like to take $1 trillion of that money over the next decade to use it for dealing with the
for these kinds of crazy proposals that we re hearing about lowering taxes for the people who make a million dollars a year or getting rid of home mortgage deductions. if you ask me, am i in favor for the first $500,000, yes, or first $400,000. if that s what they are talking about by getting rid of home mortgage deduction or houses worth 4 or $500,000. that s different. yes. we don t know exactly what they are proposing so we ought to find out what they are talking about before we talk about primarying people. there are people we won t name on the show but you will see democracy for america primarying some people and i will support some of those candidates. there is no question about it. it is all in the nuances and how they do it. but all of the signs have been bad so far thp. i m trying to get in front of it before they say this is a brilliant idea that the republicans want to do. that s part of the reason to