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But i think the president's made clear he's the one arguing we need to broaden the base to get the corporate rate down to make companies more competitive. but to equalize the disparities across companies. some companies in the u.s. are paying 35%. you got some companies paying very little. depends if you have debt. it depends whether you have overseas operations. all of this -- these kind of exemptions and deductions, they don't make sense. doesn't make sense to have a very narrow base and a very high rate, which is what we have. >> look, again, on the equity issue which i think is something w...

Obama at 35%. that number has gone down. why not raise taxes on wealthy because maybe they're not paying their fair share? >> i'll speak as a regular american. the reason i don't trust you to raise my taxes is because i don't trust you to take that money and use it for anything that will make a positive difference in america. if you're going to tell me you increase my taxes 10% and it's going to make a difference, i would say go for it. but they'll just increase spending. >> before you answer, let me put up one more chart. this informs the conversation. this shows whose income has gone up. top...

>> well, fair share to me can be defined proportionate to income, fair question or important question. we agreen one thing. this is an equity issue. it's a matter of how you define equity which we can debate until the cows come home. let's move beyond that for right now. it's an important question and one we should talk about more. let's get to the issue of where we cut. you don't think paul will do a tax increase. you said he might. really probably not. let's see where are we going to cut? fair step to take? we're not going to borrow more. we don't think we can. where should we cut? where do ...

Defensive about this ad. what do you make of this reaction. >> the ad is to be expected. the republicans are trying to find everything they can to weaken democrats' chance in november. democrats are right to point out corruption and scandal and all these other things aren't just part of the democratic party reserve, it's also within the republican party. folks are right to raise the equity issue, if you will. >> what about the fact you're going into a time people are said to be bitter, angry about the economy and the way washington is handling itself. it is likely democrats will suffer and whe...

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