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That would lower rates by broadening base. but not lose revenue on net. >> bret: everybody follow that? not lose revenue on net. potentially, businesses face the same rate, lower rate overall. but because of the elimination of deduction and credit, maybe they would gain on net re-knew. fred? >> some businesses will and some wont. when you broaden the rate and lower -- broaden the base and lower rate, some who rely on the loopholes and tax deduction will move. principle, principal of tax reform t...

Of the corporate tax code. that would lower rates by broadening base. but not lose revenue on net. >> bret: everybody follow that? not lose revenue on net. potentially, businesses face the same rate, lower rate overall. but because of the elimination of deduction and credit, maybe they would gain on net re-knew. fred? >> some businesses will and some wont. when you broaden the rate and lower -- broaden the base and lower rate, some who rely on the loopholes and tax deduction will move. principle...