yesterday we're told tomorrow will be lts principles revealed. what do you make of it? >> there will be a lot of lavish promises. this is like cat nip for stocks and the idea that we could go maybe not to 15 but maybe go to 20% as the top rate, that's tremendous for corporate earnings down the road, it's a big story for stocks, but there has to be a flip side to that. the flip side is the bond market and interest rates and i think you have to conclude right across the board more spending for defense, v. a, tax cuts right across the board the deficit i think is headed higher, maybe dramatically higher in the next two or three years. >> ellis, i think that the deficit hawks in the house are really concerned about a president they think may be not too afraid of red ink. >> right. he was supposed to be one of them. i think it's great. this is a dumb system, right? if you have a high rate but nobody pays it or if only the small businesses pay it who start feeling like suckers, the