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Did consider using executive action to actually cut down on the use of tax loopholes, these corporate inversions, for instance and some of the tax methods corporations would use to cut down on their tax bills. it's always very controversial. both sides do it. i think the issue with this particular move would be the administrati administration's argument is that president trump is a populist. everything he's doing, it may look like on paper it's for the rich, but it accrues to the advantage of the middle class, folks who need jobs and higher wages. there's no way of making that argument when it...

Working with the nra. then nothing happens. sure as we're here today, nothing is going to happen from this administration. we're going to have to pass legislation because they are just enslaved by the nra. >> i don't care if a gun is made out of metal, made out of plastic. if it can fire a bullet and take someone's life, then it needs to be regulated. >> cnn's tom foreman is joining us now with more on what are being called ghost guns. take us through the controversy. >> you said the two key words. undetectable and untraceable. those two do not always go together when talking about these guns....

A book that you're ready to share with the world? get published now, call for your free publisher kit today! the trump administration could be setting itself up for a future court battle. "the new york times" now reporting that the administration is considering bypassing congress to grant a $100 billion tax cut almost exclusively to the very wealthy. joining us now, the man who broke the story, tax and economics reporter for "the new york times." tell us, jim, how this would work. >> sure. the treasury department would issue a rule, wolf. it would change the way that the government considers...

Let's discuss this more. gloria and julie are still with us. it would be a big deal for the very, very wealthy if they didn't have to worry about paying all those capital gains taxes. >> it would be, but not so fast. first of all, i think this would wind up in court immediately. the democrats would jump on it and talk about, you know, this is a tax cut for the wealthy because capital gains taxes are largely paid by high earners. i think it's a test of executive power. i remember -- i'm old enough to remember when the democrats were screaming about barack obama's imperial presidency because of ...

Long time ago would be calculated in today's dollars, not on the price that you paid for it in terms of how much tax you would owe on that when you sell it. i know that's wonky, but it works out to a big cut to really the top 0.1% of americans who pay most of our capital gains taxes. >> that would be a huge bonanza for them. i understand it's something that former president george h.w. bush considered back in 1992 before leaving office. he didn't follow through on it. why? >> well, his treasury department concluded that it was not within the government's power to do this. subsequent presidents...