president has said, this is not about tax cuts for rich people, this is about tax cuts for the middle class and for working americans we are going to raise the standard deduction to $24,000 for families. at the reagan library, there s no better place to have tribute to what was done 31 years ago with president reagan. president trump s tax reform will be even bigger. tucker: the president during the campaign said repeatedly that he was going to give a haircut to the private equity people and managers by doing away with what is called the carried interest loophole, which allows people to take salary and get taxed at the investment rate, which is almost half.me that is still in there. this bill allows that to continue, why? i m sure that s one of the issues that will be debated as it gets through the house and as it gets to the senate. we will be working with both parties on it. tucker: you were going to push on that? we are. tucker: not every group in d.c. loves the plan and
uncomfortable? it doesn t. at one of the things the president has continuously, this is not about tax cuts for rich people, this is about tax cuts for the middle class and for working americans we are going to raise the standard deduction to $24,000 for families. at the reagan library, there s no better place to have tribute to what was done 31 years ago with president reagan. president trump s tax reform will be even bigger. tucker: the president during the campaign said repeatedly that he was going to give a haircut to the private equity people and managers by doing away with what is called the carried interest loophole, which allows people to take salary and get taxed at the investment rate, which is almost half. that is still in there. this bill allows that to continue, why? i m sure that s one of the issues that will be debated as it gets through the house and as it gets to the senate. we will be working with both parties on it. tucker: you were going to push on that?
breaks people there that want to pay a 14% tax rate. but they can pass something where there s a flat, minimum tax on millionaires and billionaires. i guess my question is how do you treat if i get a check off of an investment i made, not off of income i ve earned, okay? how do you treat that you re talking about taxing that twice? i m talking about a minimum tax rate per year. okay. and that s what they pay now. they pay an investment rate. i understand, mike. what should that rate be? i m saying there should be a minimum tax. i m going to let you continue on the break. and they should not be paying 14% or 15%. they just shouldn t. okay. coming up on morning joe, investigative roerl cheryl atkinson. that will be interesting. you worked with her at cbs. i did many years. we go way back.
because, of course, he is paying most of the taxes on investment income taxed at a lower rate and the secretary pays on wages, earned income. to under score that political point he is literally going to have warren buffett s secretary sitting in the box, there, in the house of representatives chamber with the first lady. neil: why doesn t he just give the woman a raise and be done with it? if the president spells it out and he is not going to bring her rate down, i guess, so, i imagine he is talking about bringing the investment rate up to at least the 28 percent she is paying presumably? guest: that is the point. how you get there and from what we understand the president is going to lay out more detail than he has before, but it is unclear to us at this hour whether he is going to spell out in full detail what new rates he wanted to have bass you are right if you are going to make the system more fair in the
lowered the investment rate. if you do both you can do a lot of harm. we could argue this but i want to get you back, it is always good to you have on because at least you reasonable. kidding. kidding. kidding. you are reasonable. guest: good to see you. neil: when we come back, governor scott of florida and what he says about this race. it s about jobs. jobs. jobs. jobs.