they ll go up. do you anticipate that s happening? let me just say this is all about creating jobs and growing the economy. on the personal side, this is about tax simplification and about limiting deductions. although the rate is coming down on the top end of 35%, there will be many, many deductions gone. and as a matter of fact, we are taking all the directions out other than charitable donations at mortgage interests. effectively, the effective tax rate will not be a reduction for the rich. tucker: will it be a rise? we ll see. it won t be a reduction. it s about creating jobs. tucker: if you are making 500 grand a year, do you see our tax rate move it all effectively? we ll have to run all the numbers when we come out of the brackets and everything else. but this is really about and middle income tax cuts. this is about lowering business taxes. we need to make businesses competitive in the united states. we have the most uncompetitive system. we have high business rates,
tax on worldwide income. this is all about changing that. this is about massive reductions in business rates, for corporations, and for small businesses. many studies show that 70% of the tax burden falls on american workers. so, by cutting business taxes, this will increase wages for american workers and create more jobs. tucker: just to take one snapshot, a family of four making 70 grand a year, not atypical, what happens to that family? they will have a middle income tax cuts. the numbers, we are working with congress, working closely with the house in the senate on all the details. we went out with the principles today. i think we have broad agreement on the principles. on the personal side, cut on the number of brackets, simplify this, get rid of deductions, make middle income tax cuts, and make business competitive. tucker: so, the president on the campaign trail was not classic reagan on economics at
tax on worldwide income. this is all about changing that. this is about massive reductions in business rates, for corporations, and for small businesses. many studies show that 70% of the tax burden falls on american workers. so, by cutting business taxes, this will increase wages for american workers and create more jobs. tucker: just to take one snapshot, a family of four making 70 grand a year, not atypical, what happens to that family? they will have a middle income tax cuts. the numbers, we are working with congress, working closely with the house in the senate on all the details. we went out with the principles today. i think we have broad agreement on the principles. on the personal side, cut on the number of brackets, simplify this, get rid of deductions, make middle income tax cuts, and make business competitive. tucker: so, the president on the campaign trail was not classic reagan on economics at
they ll go up. do you anticipate that s happening? let me just say this is all about creating jobs and growing the economy. on the personal side, this is about tax simplification and about limiting deductions. although the rate is coming down end of 35%, there will be many, many deductions gone. and as a matter of fact, we are taking all the directions out other than charitable donations at mortgage interests. effectively, the effective tax rate will not be a reduction for the rich. tucker: will it be a rise? we ll see. it won t be a reduction. it s about creating jobs. tucker: if you are making 500 grand a year, do you see our tax rate move it all effectively? we ll have to run all the numbers when we come out of the brackets and everything else. but this is really about and middle income tax cuts. this is about lowering business taxes. we need to make businesses competitive in the united states. we have the most uncompetitive system. we have high business rates, we
500 grand a year, do you see our tax rate move it all effectively? we ll have to run all the numbers when we come out of the brackets and everything else. but this is really about and middle income tax cuts. this is about lowering business taxes. we need to make businesses competitive in the united states. we have the most uncompetitive system. we have high business rates, we tax on worldwide income. this is all about changing that. this is about massive reductions in business rates, for corporations, and for small businesses. many studies show that 70% of the tax burden falls on american workers. so, by cutting business taxes, this will increase wages for american workers and create more jobs. tucker: just to take one snapshot, a family of four making 70 grand a year, not atypical, what happens to that family? they will have a middle income tax cuts. the numbers, we are working with congress, working closely with the house in the senate on all