tree into one of the places the rates of my lower seen as a great supply-side experiment, you are the treasurer at the time. this is what usa today had to say if the tax reform discussion began about the lowering of rates in kansas. brownback may need the governor there, but for the rest of america, it was a useful experiment. it empirically disprove the supply-side hypothesis for lower taxes pay for themselves by generating robust revenue. congress taken now. you are now in congress. what were the lessons learned in kansas you are talking to fellow members about? one of the things they missed a night train to compare apples and oranges. the tax cut plans are basically just that, focusing on tax cuts and particularly with small businesses, taxes were cut as well. we want to do an
and passed regulatory reform. that s a good thing for the american people. one of the questions i heard come up is what this means for the president s policy. that s something you re talking about as well. we heard about the 401(k) proposal potentially what will happen with that when it comes to this tax package. you said you agree with the president. you tweeted this. when it comes to not touching americans 401(k)s. but a lot of your colleagues in the house have been frustrated with the president or have not seen eye to eye to him when it comes to 401(k)s. you ve got others who are talking about the president needs to step aside. the white house needs to get out of this discussion. should the white house and the president get out of the tax reform discussion so that you guys in congress can figure out some kind of package? no. i think we need a vibrant debate across both branches of government. i think it s good to have the white house weigh what they think. and congress weigh
interest. we want to make sure everyone is paying their fair share and that will go to the tax reform discussion but also we care about where the money is going to. we don t want money spent on endless wars. sometimes you talk about him having an america first agenda. so they want to make sure that the agenda matches with what the public at large expects. ali, thank you. we ll continue to check in with you. let s go to atlanta where we find maya rodriguez. organizers were expecting a couple of thousand people. what are you seeing? reporter: organizers were expecting a couple thousand people but that is not the case at this point. maybe 200, 250 people out here right now for this rally, again with a march still to come. this of course is an effort that s taking place in cities across the country and even around the world trying to pressure president trump to release some of his tax returns. we do have some first-time
right around the corner. what s different with this year in terms of tax reforms to get the most out of our tax return? in terms of tax reform discussion, there s a lot of discussion about changing retirement plans and stuff like that. you can still do some things before april 15th. try to get as much money as can you into retirement plans because they may be limited in the future. oh, that s good advice. for example, can you put money into i.r.a.s, nondeductible i.r.a.s for 2014 by april 15th and you can convert it to a roth i.r.a. afterwards, which roth i.r.a., roth 401(k) plans are great opportunities for people putting away money for a long, long time into the future because you ll never pay tax on the earnings. now, as far as difference between 2012 versus 13, you re going to be paying more taxes, so don t get mad at your accountant if they say the amount you owe on april 15th is
5% down, why not make it 1%. which is what we did on the inside. but also, here, you know, buying a company, the principle is not that different. the structure the incentive, if the equity represents your risk, the structure of the tax code encourages you to put as little risk in as possible. and i should say when we have the tax reform discussion, interestingly enough, people will identify on the right and the left. i mean, in its framework for tax reform, the obama administration has identified something as problematic. it s something conservatives talk about in terms of how it distorts the incentive. but i love this idea of mitt romney as someone who his whole life is about the virtues of death and how you can explore death and now he s running for the nomination at the time when he s running with the debt clock behind him and debt has become the signifier in the minds of the populous. it s a very simple, concrete