Detailed text transcripts for TV channel - CNN - 20110513:00

Detailed text transcripts for TV channel - CNN - 20110513:00:49:00

focusing on just five companies in an area that really isn't going to provide much relief. >> you're right. that doesn't seem to make any sense at all. it's punitive and selective. but what you're saying really sounds more like going back to more of a flat tax, take out all the credits, take out all the ways that you can save taxes here and there by deducting all these things and just make it even across the board. >> i think there's a lot of merit to that. we know that other countries are tracking jobs and investments in those -- attracting jobs and investments in those countries because they have a flatter tax system. those are things that we need to be competing for those kind of jobs and investment. right now we chase a lot of job creation overseas because of our complex and arcane tax code. >> senator cornyn, thank you for taking the time to talk to us tonight. >> thanks, e.d. >> something we have to watch if

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