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presidential debate, proposing a flat tax. >> scrapping the 3 million words of the current tax code starting over with something simpler. a flat tax. >> a flat tax has one big problem. if you tax everyone at the same rate, people who make less get hit harder and pay more than the current system. the flat tax was popularized by steve forbes during his two presidential runs, but he actually exempted families of four making less than $36,000. bold ideas are something we challenge on this show for a better america. let's see whether the flat tax is bold and smart or bold and bad. jim bia...

hello, everyone. i'm erin burnett. "out front," taxes, presidential candidate rick perry on the heels of last night's approximately debate proposing a flat tax. >> scrapping the three million words of the current tax code starting over with something simpler. a flat tax. >> a flat tax has one big problem. if you tax everyone at the same rate, people who make less get hit harder and pay more than the current system. the flat tax was popularized by steve forbes during his two presidential runs and exempted families of four making less than $36,000. bold ideas are something we challenge...

Primaries. he is an interesting character and he has potential. >> would he be a good president? >> he embraced the birther thing. he had problems. this morning i went on "open secrets," keeping track of everyone's gimmicks and he had $418,000 in federal political giving, and he gave $196,000 to democrats, and harry reid and george mitchell the last three democrat senate leaders he has given money to and kennedy was a ben fatter and gentleman biden and he called pelosi great and gave money to the last two leaders of the democrats in the house. and he had the problems to begin with and now he c...

City, a guy retired with a pension worth $242,000 a year. a single official holding two jobs and one pension took home 641,000 a year. a lieutenant with the port authority retired with a pension of 196,000 a year. 738 of the city teachers, principals, have pensions worth more than $100,000 a year. their former employer is steamed. their former employer is me. when you have richard cohen writing that, you're saying it, too. so how do we -- >> joe -- >> without stripping the collective bargaining, how do we -- >> here's the point i'd make. we see a corporation be corrupt or -- do we say, let's a...

Always to supply what the market demands. this car is $196,000. people put $40,000 -- they choose the leather and the stitching. >> so the average price about $250,000. >> yes, yes. how important is china for you? >> it is going to be probably the second biggest market worldwide. >> china will be. >> after the u.s. i think five years down the road definitely. women are key here in the u.s. we sell 1% to women. in china 30%. i love ferraris. i've loved them since i was a kid. we did see prices come down a lot in i would say '08 and '09. >> sure, the recession. >> a lot of people used that as a ...