as you might imagine the g.o.p. plan would cut spending and lower taxes. conservatives have denounced the president s plans for tax hikes on the wealthy. as you might also guess democrats rejected this new proposal. they claim it favors corporations over folks to get medicare and medicaid political observers say there is not a chance in the world it will ever become law. the chief washington correspondent jim angle is in the newsroom. hello. hello, shep. sweeping reform of taxes to medicare as part of his proposed gujt. budget. he became with the favorite repealing the president s health care law and moving into tax cuts. collapsing six tax brackets into two. leaving 10% and 25% rate and reducing the corporate rate to 25% as well. the international average. get rid of the tax shelters and lower everybody s tax rates get faster groh. do it in a revolutionary way