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Taxpayers subsidies for the oil and gas industry or other loop holes that encourage american corporations to ship jobs overseas. >> congressman, here is the thing. republicans will have and most certainly continue to make the argument through november and beyond that, look. we are the party most serious about belt tightening in washington. here is another example of us trying to do that and democrats like congressman chris van hollen being obstructionist. how do you counter that argument? >> well, there are two things. first the most important thing we can do to begin to reduce the deficit is ...

>> you just did. >> he took a swipe at the buffet rule, let's listen, i think this is on morning joe. >> i think people think this is the pixy rule where if we sprinkle dust on it. it has a huge tax increase on job creators. >> let me get back it principle. the president will run on this. he is not getting into detail. he says the wealthiest people. people over a million or near that range should pay the same rate as 40 years or the same income. >> i love that principle. for 25 years i've been in policy, i've been a strong advocate of flat tax, single right with no tax deductions, no loop hole...

Right with no tax deductions, no loop holes. if warren buffett makes a hundred times more money than someone else, he pays a hundred time more tax. why can't we have a flat rate tax system? i'm not talking down america. you are cut meg red, white and blue. i just want a fair advantage. >> okay, we will have a vote. you're predicting stephen moore, here on this program, that republican minority of the united states senate will support the buffet rule. >> they will not because it raise he the tax rate to 30%. we have to bring our rates down for growth, not up. >> okay, robert rice? >> well i was...

Cthe senate set the vote on the bill to kill oil tax breaks. will that send prices in the pump higher? what do you say? >> why are they demonizing oil companies. do they get pay back over 40 percent back in taxes to the united states of america? do they understand the subsidies have nothing to do with the prices of the day. when are they waking up? we have a supply issue and middle east issue. >> john layfield, you wanted an energy policy and you just got one. >> we decided to demonize the oil companies . raise the taxes and close the loop holes and accounts for 2.4 billion a year . this doesn...

the united states is ready for the challenge. >> as we've discussed, the united states and china will continue to compete and as americans, we welcome competition it's part of our dna and propels our citizens to rise to the challenge. cooperation as you and i have spoken about, can only be mutually beneficial if the game is fair. >> perhaps we welcome competition, but are we ready for it? business professor peter navarro is the author of the book "death by china." peter vice president biden says the u.s. welcomes competition. you say china is using in your word, quote, weapons of job...