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Go ahead, lon. >> thank you. even though we're talking about big numbers here, corporate taxes are a very small portion of the overall revenue that the government takes in. there's something like 242 billion in corporate taxes collected in 2012. there were a trillion dollars in individual taxes that were collected. so when we talk about this problem and problems with the corporate tax code, et cetera, there are problems overall with the tax code, not just on the corporate side. so when you also think about questions of appropriation, should you bring the money back, you bring it back and tax e...

That's $584 billion. he wants to raise rates on capital gains and def dends, $242 billion. other changes and exemptions and deductions, $165 billion and raise estate taxes. this all adds up to $1.6 trillion. if you want $1.6 trillion of revenue, that is very hard to get it without raising rates on the top 2%. that's the president's fundamental point. >> andy, what is the impact of raising $1.6 trillion in taxes and the spending cuts? the "wall street journal" suggesting the top business leaders are bracing for an economic downturn. >> the top business leaders have indicated they're willing to ...

242 billion. why they are so about the cuts? >> there to scare people, make the portrait negative. there is no doubt, it will increase 70 billion, which is about a 2% annual inflation from 2016 to two [cheers and applause] you can take less, it this is again, you get back to the central issue. this is where we are between conservative values and conservative principles and ideas that big government should fund and pay for all this. it is tough. >> julie: cbo report -- president trump in fact was tweeting about it. they don't necessarily want to have so much weight on appeared the question is, ...