something like solyndra, and we are coming up with a fair, flatter, simpler, more competitive tax code that will help create jobs. that s what is fair. what the democrats are trying to do bill: are you reducing taxes for all americans or just some of them. we are completely scrapping the code. we are coming up with a two-tiered flat tax system at 10 and 25% keeping capital gains and deaf tkepbdz at 15%. what they were doing it was on a deficit neutral basis by clearing out all the washington special introductions and loopholes that the president claims he wants to do, but he doesn t actually do it. bill: does that affect every american? because i put that question to the democratic senator and she said, no i was wrong about that. am i? well a brand-new tax code will impact every single american, let s face it. almost half don t even pay income tax so i can t look at every individual person to see
toast, bacon, ham, sausage, chicken sausage, wheat or rye toast, coffee, tea, hot chocolate, no substitutions. rollout out. take you out to your car and put you on a treadmill. this morning i m going to stick with the tater tots because they re easy to eat to anchor a show. hello, everybody. cnn s political analyst roland martin is with us this morning. it s a bad start if i can t get through roland s name. david frum is back with us. nice to have you in person. chatting by satellite. and also this morning, norquist is joining us, president of americans for tax reform. you re going to be our tax expert this morning as we sort through mitt romney s taxes. it s nice to have you. thanks for being with us. mitt romney we know now officially released his tax returns. we re expecting that in about 90 minutes. but there is a preview. the preview is roughly 550 pages long. romney made $21.6 million in 2010. paid over $3 million in taxes. and tesktive tax rate as we mentioned is 1
governor rick perry is proposing giving you taxpayers a choice. essentially you can pay your current income tax rate under this code or skip the accountants and software and pay a 20% flat tax rate. the bottom line, most americans choose a 20%, and at the least this would amount to a tax cut for the wealthy. candy crowley is the chief police kp correspondent, and anchor of state of the union on cnn. no one is sure what romney s proposal is, whether it s economically sound. after herman cain s success for getting attention for the 9-9-9 tax plan i can see why perry seized on the idea of a simple tax. this tax code helps us understand that. i m not clear on whether they succeed or fail on the economic plans or how sexy or simple the plan sounds or whether it has nothing to do with that and who has the best chance to beat president obama. it s somewhere in between there, ali. there are certain things to say in this republican primary that would make him or her a non-starter,
i m ali velshi. welcome to your money. rick perry is proposing give you a tax choice. currently you can pay it under the cold or pay a 20% flat tax rate. the bottom line, most americans choose a 20%, and at the least this would amount to a tax cut for the wealthy. candy crowley is the chief political course it dent and anchor of state of the union on cnn. no one is sure what romney s proposal is, whether it s economically sound. after herman cain s success for getting attention for the 9-9-9 tax plan i can see why perry seized on the idea of a simple tax. i m not clear on whether they succeed or fail on the economic plans or how sexy or simple the plan sounds or whether it has nothing to do with that and who has the best chance to beat president obama. it s somewhere in between there, ali. there are certain things to say in this republican primary that would make him or her a non-starter, and that is i m going to raise your taxes. i will make big cuts in defense spendin
flat tax system that will by the way, dramatically reduce the $483 billion that americans spend to comply with the current tax code, but secondly, you see a moratorium on regulations, federal regulations according to sba cost a trillion dollars today, $10,000 for every manufacturing job, third, you see specific reforms in social security and medicare, that helps secure those programs for our children and grandchildren, and finally, you see a commitment to a balanced budget amendment to finally stop the borrowing. so we re not leaving our children and grandchildren with so much debt that we re actually leaving them fewer opportunities than we inherited from our parents. you put all this together you ve got a comprehensive plan to contrast, where president obama is trying to take u. the direction of the europeans you look where greece is bill: i mentioned herman cain but really, governor perry is putting his sights on governor romney and you can see it in the debates when the men