Welcome back to cavuto live we start this hour with donald trump the Libertarian National Convention News after holding a campaign event, on thursday, Heavy Deep Blue bronx, were best President Bidens policies, and from the economy to the border and Alexis Mcadams is in the nations capitol with more alexis. Reporter Hi David Blue big crowd your comments of her excited your the donald trump will be on stage here the convention in washington dc, later tonight but not everybody is abducted here from the former present just a site Vivek Ramaswamy was trying to hide him up and people started to move. Want to. Will team of democratic nominee and i think i will trip is an ambiguous like him, i mean, come on. Reporter the convention their kind of billing through some other speakers as well as trump is saying though that he was but a few times si, the presumptive are valid and president ial candidate set take the station about 24 hours after defendant Robert F Kennedy jr. Had this to during the
pros or read you a poem i wrote this morning. if a calendar year could be divided by 4, a flat tax will come knocking at your door. it s a total schnoozer and a revenue loser. tax bill would go up across this great nation. no question our tax code is fraught with complexity but a flat tax will not fight that. it s really hard to find a rhyme for complexity. in other words this idea it doesn t scratch any of the hitches in our tax code that you articulated. it s simple because it has to do with how we define income not the rates. if we define income much more simply, you could have a thousand rates and it would be simple to pay your tax. you look up your income in a table. it s a big revenue loser and,
i m wolf blitzer. you re in the situation room. captions by vitac www.vitac.com he s plunging in the polls and in need of a boost. will a new plan help rick perry climb back to the top of the republican race? his rival, herman cain, is leading the pack according to a brand new poll and perry is a distant fifth with cain apparently benefitting from his 9-9-9 tax plan, perry today unveiled his own new tax plan and 20 is the magic number. he proposes a flat tax of 20% for individuals and corporations, but in a twist, perry would let people choose to pay his flat tax rate or file under the current system, which he derived. the size of the current code is more than 72,000 pages. that s represented by this palate right over here and the reams of paper. that s what the current tax code looks like. the best representation of my plan is this postcard. this is is size of what we re talking about right here. taxpayers will be able to fill this out and file their taxes on that.
the income tax rate they pay now or 20%. it would keep the hugely mortgage interest and deductions for families earning less than half a million a year and would cut the corporate tax rate from 5% to 20 and temporarily slash it to 5.25 and eliminate taxes on stock dividends and long term capital gains. perry says he aims to unleash american ingeneral unite for a new american century. we will set our employers and our people free by slashing the cost of government, cutting taxes for the middle class families, balancing our budget and growing our economy. the future of america is too important to be left to the washington politicians. and joining me now with more on perry s number is cnn s number one numbers guy, ali velshi, this is kind of a flat tax and kind of not. the issue with it is that i don t know who in america wouldn t choose the 20%. you could run the numbers three ways, you could do it with 20% he s plo posing. do it the normal way which he says he ll leave i