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>> neil: i wasn't born. >> wasn't either. i read about it. all of these people trying to get their favors and stuff in there. it was a bottle of scotch and said the hell with it. let's drop it to 28%, drop the corporate from 46 to 34%. get rid of all of these loop holes, tricks and things and let's just do it and get going. that's when bipartisanship really worked. it can do it now. so you really want to wait until we get to the final hour. i wouldn't overly fret. we're going to get the tax cuts. may not be this year but we'll get them -- >> sounds like an 81 phenomenon where we -- >> it does ...

Tax cuts through. maybe even getting some democratic support knowing that the rich aren't going to be, you know, that well-protected here. they might end up to gary cohn's point more. what do you think? >> listen, i can say this. i think if rich people net-net pay more, i don't think that will stop tax reform from going on. the real question is, if in these tax cuts on the corporate side, if it's a wash because of closing loop holes or if it's a de facto increase because they closed the loop holes, i can't imagine that congress or a republican congress will go for that. by the way, no offense ...

>> neil: in the end, the rich could pay more and maybe more than they're paying right now. to charlie gasparino. he says there's enough here, including corporate tax relief and tax relief for everybody else, that even though some of the rich might do a double take, this will be well-received. maybe, charlie, get more broad support. what do you think? >> here's the bottom line. it depends on the effective rates. we say that on the individual and the corporate side. the markets are up because of the corporate tax cuts. they think there's going to be -- which is 35%, it's going down to 20%. even ...

Now, 39% and corporations from 35% to 30%, then they plug loop holes and what you do is get an effective tax increase. i can't imagine politically that's something that you could sell through congress. you have to get even when you close those loop holes and effective tax cut for this to have any sort of political, i guess, credence with republicans who love tax cuts. not only that, with the market. the reason why markets react positively to tax cuts is because there's a stigmaive effect. if these tax cuts -- if gary cohn is enacting tax cuts that are de facto tax increases, i don't think that...

The president called on congress this time to get the job done. watch. >> this is our once in a generation opportunity to deliver real tax reform for everyday, hard-working americans. i'm committed to working with congress to get this job done and i don't want to be disappointed by congress. you understand me. >> martha: chief national correspondent ed henry live with more on the president's plan tonight. >> good to see you. yeah, this is president trump taking on the swamp that he slammed in the campaign. the entrenched interests in washington that don't want to change a complicated tax code ...