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They're hoping to get your taxes down to a postcard-size return every year. and it's dramatically simpler. it is real tax reform. dramatically lower tax rates for business, fewer tax brackets for regular people, and a bigger standard deduction and a bigger child tax credit. let me show you those tax brackets. 12% on the lowest. that would be a 2 percentage point increase, but they're doubling the standard deduction. so the first 24,000 of income would be tax free on the federal level. middle class tax bracket of 25%. and lowering the top bracket to 35% for the rich. that standard deduction goe...

Territorial rate. a much more simple and better, you know, it's better profit wise for these companies. so those are sort of the basics here. the president has said several times that he would like to raise taxes on the wealthy. when he starts talking about taxes, he'll start to ad lib about raising taxes on the wealthy. we're told that the tax-writing teams will have the option, potentially, of adding a fourth tax bracket if that becomes something politically -- >> but then he has to get republicans onboard. >> he's got to get republicans onboard who want offsets, who don't want to blow up th...