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Deficit reduction. here's just an example of this is from the center for budget and policy priorities, projected medicare spending which has fallen $590 billion out in the future since just august 2010. that's a fairly large amount. if you extrapolate that out into the long term it is even more. that argument that obama care is doing that, why is no one making that argument? >> two things. one, this extrapolation is super important. whenever you hear about our long-term debt problem, it is all long term health care spending. if you got that under control we're pretty much fine. a lot of that i...

Corporations in terms of their profits now, their rate is at 12%. the lowest since 1972. compared to europe, our corporate contribution to the tax revenue is the lowest of any major country on earth. so the question is how do we deal with that? and one way we deal with that is we say that it is absurd for large corporations to be able to stash huge amounts of money in countries like the cayman islands, which have a zero tax rate. they have no real presence there at all. all they have is a mailbox. and that building that you just showed has 18,000 corporations. it is a sham. it's a farce. we've...

Wait a second, as you've just indicated, one out of four profitable corporations pays nothing in taxes. corporations in terms of their profits now, their rate is at 12%. the lowest since 1972. compared to europe, our corporate contribution to the tax revenue is the lowest of any major country on earth. so the question is how do we deal with that? and one way we deal with that is we say that it is absurd for large corporations to be able to stash huge amounts of money in countries like the cayman islands, which have a zero tax rate. they have no real presence there at all. all they have is a ma...

Compared to europe, our corporate contribution to the tax revenue is the lowest of any major country on earth. so the question is how do we deal with that? and one way we deal with that is we say that it is absurd for large corporations to be able to stash huge amounts of money in countries like the cayman islands, which have a zero tax rate. they have no real presence there at all. all they have is a mailbox. and that building that you just showed has 18,000 corporations. it is a sham. it's a farce. we've got to end that. corporations cannot put their profits there. >> senator, this is an ele...

They take $590 billion out of the medicare program and one thing i have pointed out, if you notice, we have not imposed the $208 billion of supposed medicare cuts to providers that is required under the sustainable growth rate formula and we have not enacted that because congress understands if they do that, access to care is beginning to be hampered. quality of care will go down. and, i am skeptical those $529 billion of cuts would occur in medicare but if they did, understand what that would do to the quality of care to the access of care. because medicaid frequently doesn't even cover the c...