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And special set-asides in the code, there are thousands of them. it's government politicians in reality. >> they don't pay that rate. ibm is not paying 25%. so you cut their rate, what is it going to do for the average worker? nothing. they were never paying that rate. >> it's going to make them much more competitive. >> show me where. >> it's going to increase jobs. >> where? >> we have an unemployment rate of 40%. you lower the corporate rate, you're going to bring jobs home, you're going to increase the share of jobs in this country and american companies are going to have to compete for th...

Perspective of actually cutting the rate. by the way, university of oxford did another study and labor bears 49% of the burden, according to them. so there is plenty of academic studies that show the real impact of the corporate rate, stephanie. >> then go to a practical perspective. companies don't actually pay that rate. it's why you have seen tax lawyers and specialists build careers out of circumventing paying that tax rate. show me fortune 500 companies that pay above 20% and i'll eat my hat. >> absolutely, and that's why we want to clear out the reduction set-asides -- >> no, i ask you, ...

Get rid of those, stephanie. let's clear them out of the code and let the rate be the rate. that's the better way to do it. it's fair for every american to do it that way. >> but what does it do to the average american? using the state tax, for example. this plan, the president said over and over, it's not going to help me. then finally steve mnuchin said, i concede, meaning i admit it will help wealthy americans. then this argument, no, we need to do it for farmers. i can't find a farmer where it's going to help their family. it's this argument if you clean it up, things will be better. clean...

>> harris: vice president mike pence said we want a situation where you can do your taxes on one page. how would you make that happen? that brings us to the second category you talked about simplifying the code. we need that desperately, what are some of the areas outside of filling out your taxes, some areas you want to shore up. >> we want to get rid of the alternative minimum tax and a lot of those things that make the tax code cumbersome and frankly make it difficult to grow our economy at the rates we need to grow it. we got a $20 trillion debt. to be able to deal with that you've got to ...

Word. it means little to some folks because they've heard it before. tax cut they should realize means we go from seven brackets the three. that more people in this country will be paying 0% in taxes than they do now. the top rate will fall to 35%. businesses will pay 20%. the president wanted 15. 20 is such an improvement. it is a major tax cut and also tax overhaul. that's the simplification part. 91% of americans have to -- we need a simpler, fairer system that don't benefit the wealthy as it does nou. they can hire the accountants and attorneys to navigate the code. >> bill: an executive o...