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Cuts for the wealthy so they can buy their third home in the alps. that's not our priority as a country. >> jon: brad, i suspect you see it differently. >> we don't take into account the growth opportunity we have. we're doing well on wall street. it is how well main street is doing. the fairness of this tax plan in the house is something that will revolutionize the way americans report their taxes but the amount of money they are able to keep. rate reductions. repatriating money coming back to america. that's important. businesses are going to grow and buy equipment and hire more people. wage...

Win for big business, permanently slashing corporate taxes from 35% down to just 20%. how does lowering the corporate tax rate help middle class americans? >> 70% of all gains from corporate rate reductions go to wages. >> reporter: all these cuts come with a hefty price tag, costing the government roughly $1.5 trillion over the next decade. top republicans, including the president, had promised to reduce the deficit. >> our budget deficits are massive. this country, we lose money all the time, for years and years we've had deficits. >> reporter: but now -- >> what we're doing is, we're taking...

Have tried to get tax reform for many years. there was work that dave camp did, the blueprint. but there isn't time for members of congress to really look at this and do a bipartisan outreach if that's what they want. i think bipartisan is always better because at least they're durable policies, policies that will stay in place. that model in 1986 was good because it was bipartisan. also because we used the reduction of tax breaks to truly offset the rate reductions and other things that helped create a comprehensive tax reform. i don't think the timeliness of this matters near as much as gett...

Even the president's close economic advisors say that's spread out over a period of time, about eight years to be exact. it amounts to $500 a year. does this plan go far enough? >> well, the framework is there, sandra. we don't have all the details. that will be flushed out. if you look at the rate reductions, that will provide immediate relief for american families, what they need. the simplicity of the tax code going from 75,000 pages down to a simple system will also give families more time and resources to spend on other things other than tax prep and then by incentivizing companies to loc...

I believe in the end i might do better. >> what do you say? >> it's false. it's never been true that under republican tax cuts plan. the economy has done better under democrats going back to nixon when you had pro-growth efforts where you had higher tax rates than what republicans had. this whole notion you're going to cut taxes is false based on the record. >> what about the point he could pay more? is there any reality to that or is that just a whole lot of hot air? >> two things. first of all, the two biggest rate reductions in taxes we had in the last 50 years were under jfk in the 60s and...