live next to me and have the same income i do we pay the same tax. and that s not the way our current tax system works. on this regressive issue, if you look at the loopholes and favoritism in the tax system right now, steve, the top 1% the 1% richest americans get about half of all of the deductions and loopholes. you get rid of those loopholes get the rate down as low as possible and i think that s fair and you ll actually raise a pretty good revenue when you take into account the growth. look, if we had the lowest tax rate in the world, rather than one of the highest tax rates, you bring a lot of capital to this country. but, again, i get back to this issue, it s sort of a washington versus america issue. everybody hates the flat tax because it s at the center of power of the irs code. if you get the rates down low and get rid of the deductions could literally have k street be
it s true the japanese bank are devaluing there s currency. through quantitative easing we were doing the same. we re not pure when it comes to manipulation. i m not for it. i m not sure how you prevent it. i don t know if we want to politicize the central governments. that said, i don t know that i have the answer today on currency manipulation and i don t think it should be part of the trade agreement everybody s hands are dirty on this issue. congressman dingell, let me ask you about the idea of china, the idea of putting a big trade deal like this together a big block of pacific nations being able to rival china, being able to check china. we talk so much about the potential economic threat that china poses to the united
it s just going to show what the republican party is like. speaking of the republican party, how about this one the new york times headline, a hillary clinton match-up with marco rubio is a scary thought for democrats. the thought that rubio could offer a generational contrast to the 68-year-old clinton, the kind of contrast that barack obama drew in the 2008 primaries and i actually think there is something to this one. i think there is too. if it s bush versus clinton, the arguments kind of cancel each other outgoing back going back to the past. rubio can also appeal to the hispanic voters and which scott walk ser a generational difference and could be a strong match-up against hillary clinton on his issue of immigration he s
but to be fair politicians make a lot of promises to get your vote that they don t keep. maybe they intend to keep some of them. maybe they don t. politifact.com tracked more than 500 promises that president obama made during his campaign in 2008 when he was candidate obama. he s kept 37% of those promises. he s working on 23% of them. he s broken 16% outright and compromised on 14% to get the job done. the rest, some of you like to tweet me a lot and point out the many promises that he hasn t kept. some of those broken promises can be blamed on congress. they are stalled because your lawmakers won t do a thing about them. i have spent the last few months blaming congress for things, but it s not congress who is going to stand in the way of romney s ridiculous promise. it s the state of the u.s. economy. 12 million jobs over four years, that s what romney is promising. that s 3 million jobs a year or an average of 250,000 jobs per month every month for an entire presidency. i
will join me in a minute. i ll ask him whether mitt romney was absent or sleeping when he approved that claim. but to be fair politicians make a lot of promises to get your vote that they don t keep. we tracked more than 500 promises that president obama made during his campaign in 2008 when he was candidate obama. he s kept 37% of those promises. he s working on 23% of them. he s broken 16% outright and compromised on 14% to get the job done. the rest, some of you like to tweet me a lot and point out the many promises that he hasn t kept. some of those broken promises can be blamed on congress. they are stalled because your lawmakers won t do a thing about them. i blame congress for things, but it s not congress that s going to stand in the way of romney s ridiculous promise, it s the state of the u.s. economy. 12 million jobs over four years, that s what romney is promising. that s 3 million jobs a year or an average of 250,000 jobs per month every month for an entire pre