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There is no plan. i was thinking, you know, he's trying to put lipstick on a pig, but there's really not a pig, but what there is -- he's mentioned a few things so far, and there's one big loophole that put really wants to open, and that's a special low privileged rate on pass-through business income. taking it all the way down to 15%. that would open up a massive new loophole and invite literally billions in tax avoidance. so this idea that he wants to close loop holes is patently false. >> ali, if i could explain that. so if you were me and you have an llc and so you have a limited liability...

We have to pass tax reform. it's ultimately helping spur the economy, that which is consumer spending and the belief by job creators that we're ultimately going to do tax reform. if we want to bolster what is going on in the economy right now and we want to actually spur it, we'll pass tax reform. >> molly: richard, what can democrats do here? is there a chance we'll see republicans reaching out to them? we're seeing there may be some forced collaboration on healthcare. where do the democrats stand? will they be a part of the discussion? >> democrats have always been -- we think there's things...

London bureau. let's talk about the secret service push back, telling cnn they were not protecting mr. trump's son at the time so there would not have been any screening. the question here, is this just another example of the administration trying to find loop holes, trying to muddy the issue or redirect? >> yeah. jay has met push back from the secret service itself, quite rightly saying that donald trump jr. would not have been a protecty at the time of this meeting. big picture back there. is this attempt to muddy the water, pull blinds over the eyes of the american people, i'm not so sure. ...

Norms and not regulations. he as he said he doesn't have to follow some of the rules as of cabinet officials. previous presidents release the tax returns andy vested their assets. something donald trump refused to do. what schwab is doing is drawing attention to the flaws in our system trump has pointed out. maybe one of the aftermaths at the end of the trump presidency is hopefully there is finally a look at ethics in government and what we need to to do to tighten the loop holes. >> you make an important point. there was nothing legally stopping george w. bush from running of an oil business...

Donald trump -- oount you know a lot of rules and norms and precedence that apply to presidents and governored presidents in the past are just norms and not regulations. he as he said he doesn't have to follow some of the rules as of cabinet officials. previous presidents release the tax returns andy vested their assets. something donald trump refused to do. what schwab is doing is drawing attention to the flaws in our system trump has pointed out. maybe one of the aftermaths at the end of the trump presidency is hopefully there is finally a look at ethics in government and what we need to to ...