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Untruth number one that this plan is not a plan for the rich. repeals the estate tax which benefits the 11,000 wealthiest estates in the country. each one thaos be more than $5 million. it lowers the top rate. untruth number two. allowing hedge fund owners and big law firms to take advantage. three, it provides a pass through so very wealthy people can pay a lower rate than average americans. untruth. so it is totally untrue, shall we say, that this is not a plan for the rich, which is president has stated. then he says at the heart of our plan is a tax cut for everyday working americans. untr...

And what the plan does are total open sits. he says this is not a plan for the truth, blatantly untrue. it repeals the estate tax, which benefits the 11,000 wealthiest estates in the country. each one has to be more than $5 million. it lowers the top rate. untruth number two. allowing hedge fund donors and big law firms to take advantage. three, it provides a pass-through so very wealthy people can pay a lower rate than average americans. so it's totally untruth, shall we say, that this is not a plan for the rich, which the president has stated. then he says, at the heart of our plan is a tax ...

Fantasy. no one believes it. so it is untruth after untruth, after untruth as bob corker put it when the president talks about the republican tax plan. untruth one, it's aimed at helping the middle class. untruth two, it's not a plan for the rich. untruth three, it lowers the deficit. this plan is a disaster for america. it's no wonder our republican colleagues want to rush it through in the dark of night because the more it is exposed to sun light the more rotten it smells and the american people will know that. senator cardin. >> thank you senator schumer. the more we are learning about the ...

Break. when they talk about getting rid of state and local deductibility, when they talk about limiting 401k's, when they talk about limiting the mortgage deduction, those are all aimed at making the middle class pay more so the rich can get a bigger tax break. that's not what america needs. that's not what america wants. and that is not what's in the plans put together by our republican leadership in the house and senate. that's an untruth. then the president claims this will not increase, this will lower the deficit. untruth number three. absurd. no one believes that this will lower the defi...