tax scam for middle class families is a moral obscenity. your response? i understand the left is desperate for republicans not to have a victory. i would like to see them think about the country instead of their politics. in a decade we hit the wall because of entitlement clause. if we could get the economy growing, many of the programs, the members from the left, claim they support and want to protect will be okay. but who desperately must is have that economic growth. tax reformers are a way to get there. we have tonight on the right. your colleague zelleden, he s a republican from new york.
tax scam for middle class families is a moral obscenity. your response? i understand the left is desperate for republicans not to have a victory. i would like to see them think about the country instead of their politics. in a decade we hit the wall because of entitlement clause. if we could get the economy growing, many of the programs, the members from the left, claim they support and want to protect will be okay. but who desperately must is have that economic growth. tax reformers are a way to get there. we have tonight on the right. your colleague zelleden, he s a republican from new york.
pass-throughs, moving to territorial on the international side. and a one-time tax for repatriation. that s not everything, but a lot of it. this is a little more specific than a lot of folks were expecting. what about the mortgage interest deduction? they re going to cap itemized deductions, but not that one. and a lot of i ve been talking to people on the republican side. while there are specifics here, they re still generally seeing this as an opening bid. this guy is a deal maker. the most important thing, they want a 15% corporate tax rate, they want help for child care. and they re looking at some sort of tax reform. so you have tax reformers on the hill, and they re seeing if that s the framework, we ll go from there. so that s the republican action. what does this mean? some of this we re just getting in.
this news just into us, the death of a prominent american. the reverend andrew greeley. he was an outspoken roman catholic priest and best-selling author who wrote more than 50 novels, many of them international mystery thrillers. he also wrote a weekly column on religion for the chicago sun-times and was a vocal critic of the bureaucracy. reverend greeley was 85 years old. tax reformers in washington are armed with a new report that finds more than half of the biggest tax breaks go to the richest americans. richard louie with a drilldown of the new cbo report on all of this and it really is interesting. it s very interesting. 19 pages here, chris. there are over 200 tax breaks costing the government $925 billion just this year. who gets the lion s share?
debt on our treasury bills, that s not a fiscal slope. that s a cataclysmic economic event. not only are you stiffing creditors who believe they have invested in the safest debt in the universe, you re actually threatening to have to raise our interest rates through the roof in order to service our debt, which means absolutely a long-term recession. it s really quite a fatal step. the wall street journal s reporting that the white house is willing to do corporate tax reform in their new proposal. what do you think than in what do you think that might mean? i think it s a neat idea. the white house is actually articulated a fairly detailed corporate tax idea in a white paper that didn t get enough attention a few years ago. and it s very much in the spirit of things that tax reformers, including republicans, like.