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Corporations have more money we have been seeing it and not see that translate into job growth in the way we thought it would. >> correct. >> not translating into wage growth the way we thought it would and the trump white house says for all the tax cuts on corporations to turn not only all of those cuts but more than 200% of the cuts into wages is ridiculous. >> no mystery -- nothing shows that happens. in the reagan time when that happened, steve, that didn't take place. more recent experiment in the united kingdom and nothing wrong with that. companies do what they want to do with the money...

Happened, steve, that didn't take place. more recent experiment in the united kingdom and nothing wrong with that. company dos what they want to do with the money they save on taxes. usually goes to shareholders. sometimes capital expenditure and almost never goes to workers. >> well, that's right. and remember this. the reagan tax cuts occurred when the top rate on individuals was 70%. and we were coming out of a very difficult time as we tried to battle inflation. we're not in that situation at all. the top rate now is around 39.6%. and i don't know anyone who seriously practices economics o...

>> all right. now the president inserting himself once again in the tax reform debate tweeting ideas to improve the bill including slashing the top rate. but the president's sur row ghats are out in full force defending the bill as middle class tax relief. >> we believe that cutting the rate of taxes on corporations, medium size and small businesses is going to accomplish the goal of putting more money back in the pockets of the american workers. >> first daughter ivanka trump along with treasury secretary steven mnuchin in new jersey yesterday, a high tax state. many use that, eliminating t...

Version of the tax overhaul. the bill on track next week. >> we ran in 2016 on doing this tax reform. the president ran on doing this tax cut and tax reform. so this is about fulfilling our promises to the american people. >> reporter: but even after late changes to the bill, bringing in line with budgetary targets still major differences from newly released senate counterpart, the house collapses individual brackets from seven to four with the top rate of 39.6%. the senate, seven brackets, the top rate, 38.6%. the house bill makes immediate a corporate rate cut to 20% from 35%. the senate bil...

>> all right. "the wall street journal" calls this half the tax reform. they also point out this $1 million rate that holds at 39.6, and they have interested language about that. quote, know members want to vote for a lower top rate and have mr. trump quote that they're mean as he did on health care. this is where presidential flightiness and lack of principle have a policy cost. keeping that there $1 million r does that give them the political cover. >> it doesn't raise a ton of money. it's not really for economic reasons. it's for political. there's been a real shift with the pop list right ...