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Exclusion for profits kprooefsly excluded -- so in that regard, long standing loophole going back to 197 for at least limited partners will be repealed. and that probably is a good thing. but as far as other loopholes go, i don't think deducting state and local tax is a loophole. >> but -- >> if you look at president trump's amt in that year, most people would quickly have a knee jerk reaction and say well the amt is the result of losing the state and local tax deduction because that was an add under amt purposes. if you look at his deductions in that year, there was only $17 million and chang...

But those particular tax preference items might in many cases roll over and create an alternative minimum tax credit. and if you read the statute that's proposed, those credits would survive the new law even though the alternative minimum tax is repealed. in fact, a taxpayer could receive refunds of that alternative minimum tax credit. >> all right. so it is not exactly what the president said in september that this is not going to cost him more money. thank you for being with us. >> al sli velshi, i want to asku this. trickle down economics. one of the biggest problems in america. student loa...

Hell and you get 20 million people fewer. that is the scenario ryan is using there. let me make one point. paul ryan believes strongly that we should be moving far past employer-based system. i interviewed him a few years ago and his big idea that he wanted to talk to me about was getting rid of the tax preference for employer-based health care, which means millions and millions of people don't get health care through their employers. him and i happen to agree on that. we shouldn't have an employer-based health care system. this thing where suddenly he is shocked and appalled by this idea if y...

Romney, which will be not only an important debate that's watched by so many people, but will frame how the contest is waged over the final weeks? >> well, i think the president will be more aggressive in terms of facts. after all, in the last debate, the president essentially listened as mitt romney reinvented himself, and mitt romney reinvented all their proposals. let's just take the tax proposal, for example. last night, paul ryan was finally given a chance to explain it. he was asked about it a week earlier on national tv. he said he needed more time. last night it was clear that all the ...

Results. you are rewarded for getting more money for the hospital that you work for. and it's unfortunately the same for education. you try to get performance standards in schools and classrooms, all hell breaks loose. >> believe it or not, the united states has been a republic since 179. . we still don't have metrics to measure success, what's working and not working. and therefore, what happens when government wants to show that it cares, it spends more money, it issues another tax preference, it issues another regulation, without having any idea whether they work or not. it's time to fundam...