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>> thank you, mr. secretary. you talk about the tax being flatter and 90% of the taxpayers benefiting from it. yet it would seem that under those circumstances you are going to eliminate a lot of the deductions, which so many small businesses and self-employed business people depend on. is there really a major cut in deductions? and how do you expect that will lay with the small business community? >> well, i think this is about taqsim if i cages and getting rid of deductions. a lot of deductions that rich people take. but i'll tell you on small businesses, i mean one of the best features of t...

Flatter and 90% of the taxpayer benefiting from it. yet, it would seem that under those circumstances you're going to eliminate a lot of the deductions which so many small businesses and self-employed business people depend on. is there really a major cut in deductions, and how do you expect that will play with the small business community? >> well, i think there have -- this is about tax simplification and getting rid of deductions. a lot of the deductions that rich people take. but on small business, one of the best features of the tax plan are all the features that go to small and medium-si...

Billions in waste fraud and abuse. there's billions that can be generated in the economy by eliminating the democracy. if you add to that the trillions of dollars overseas, thath: be rep-patrioted. and every candidate seems to have at least many of those components as part of their plans including you. >> my plan has all that sean. my plan has all of that as you know. it will help our economy. it's a significant tax cut for corporations including automatic expensing. it's bringing all those profits home from europe without any taxation. it's lowering our personal rate to 28%, the same rate tha...

All american manufacturing companies get. the one that the president points to in 2003, where we were allowed automatic expensing of expenses that manufacturing companies get, why? to create jobs. oil and gas does create a lot of jobs. >> we want them do keep on doing it, though we have to look for other sorts of energy places to go. >> but we should be drilling here, too. the president complains about the high oil and gas prices, he's done nothing to promote -- >> steve moore, from "wall street journal," thank you. >> welcome to washington. >> thank you. in england, prince william and princ...