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Incentive for businesses to invest here, which is the foundation for economic growth. so we'll see the economic growth being predicted if we can get those pieces right. >> steve: remind me what they are again. we have to remember these arguments, because people will say this tax plan is just for the rich. what do we say in response? >> lowering the corporate tax rate to 20%, which is currently the highest in the industrialized world. a territorial system where businesses can do business in the united states and not be penalized for selling out of the united states. and full expensing, allowing...

Argument that people make. corporate profits now are at record levels. companies have a huge amount of money. they don't need more money to make the decision to invest. if you cut their taxes, the only people that it will benefit are the owners of the businesses. it will not change their behavior, because they've got plenty of money they could be investing, but they're not. >> one of the pieces of tax reform is changing our current system where we tax the worldwide profits of our businesses. this is where the president talks about bringing home trillions in dollars overseas. it's money that bu...

Additional workers drives up wages and drives the economic growth that the president is talking about. >> steve: i buy that argument. the corporate tax rate is the highest in the world. if you are making a decision about where you will locate your business, i think it will have an impact. critics would point out that we had that kind of cut in the repatriation in the bush administration and it didn't lead to more jobs, what it led to was more money for the rich, the shareholders. >> the problem with that temporary repatriation is that it was temporary. and anytime we talk about temporary tax p...

Sense. and, again, i'm a supporter of all this, but it's an average. an average can hide really big differences. one of the things that's been going wrong in our economy is that you've had parts of america that are booming, particularly in the -- on the coast and other parts that have really not shared in that prosperity. and an average that pushes them together. how can we be sure that the people that have been left behind will benefit this time around. >> the current tax code is a code that benefits those rich and powerful. it's so complicated and so long that people that can hire the expens...