Automatic Expensing News Today

>> thank you, mr. secretary. you talk about the tax being flatter and 90% of the taxpayers benefiting from it. yet it would seem that under those circumstances you are going to eliminate a lot of the deductions, which so many small businesses and self-employed business people depend on. is there really a major cut in deductions? and how do you expect that will lay with the small business community? >> well, i think this is about taqsim if i cages and getting rid of deductions. a lot of deduction...

Flatter and 90% of the taxpayer benefiting from it. yet, it would seem that under those circumstances youre going to eliminate a lot of the deductions which so many small businesses and self-employed business people depend on. is there really a major cut in deductions, and how do you expect that will play with the small business community? >> well, i think there have -- this is about tax simplification and getting rid of deductions. a lot of the deductions that rich people take. but on small bus...

Billions in waste fraud and abuse. theres billions that can be generated in the economy by eliminating the democracy. if you add to that the trillions of dollars overseas, thath: be rep-patrioted. and every candidate seems to have at least many of those components as part of their plans including you. >> my plan has all that sean. my plan has all of that as you know. it will help our economy. its a significant tax cut for corporations including automatic expensing. its bringing all those profits...

All american manufacturing companies get. the one that the president points to in 2003, where we were allowed automatic expensing of expenses that manufacturing companies get, why? to create jobs. oil and gas does create a lot of jobs. >> we want them do keep on doing it, though we have to look for other sorts of energy places to go. >> but we should be drilling here, too. the president complains about the high oil and gas prices, hes done nothing to promote -- >> steve moore, from "wall street ...