2016

Wallace You are talking ░░░░░░░░ the fact you are ░░░░░░░░ to come out with ░░░░░░░░ on a variety of ░░░░░░░░ I want to talk ░░░░░░░░ the tax code because ░░░░░░░░ have taken some heat ░░░░░░░░ at least so far ░░░░░░░░ don t know what ░░░░░░░░ re going to do ░░░░░░░░ week Not being specific ░░░░░░░░ according to some people ░░░░░░░░ the tax code You ░░░░░░░░ said that you want ░░░░░░░░ reduce 73 000 page ░░░░░░░░ code to three pages ░░░░░░░░ say that you re ░░░░░░░░ to close every loophole ░░░░░░░░ lower every tax rate ░░░░░░░░ again some people say ░░░░░░░░ haven t been specific ░░░░░░░░ so I d like ░░░░░░░░ do a lightning round ░░░░░░░░ you quick questions quick ░░░░░░░░ ask you some specific ░░░░░░░░ hopefully get some specific ░░░░░░░░ Would you end do ░░░░░░░░ plan to end the ░░░░░░░░ mortgage deduction FIORINA Probably ░░░░░░░░ but by the way ░░░░░░░░ s been a plan ░░░░░░░░ a three page tax ░░░░░░░░ out for 20 years ░░░░░░░░ isn t news Hoover ░░░░░░░░ a fine conservative think ░░░░░░░░ of which I have ░░░░░░░░ as a member of ░░░░░░░░ board of trustees they ░░░░░░░░ had a three page ░░░░░░░░ code out for 20 ░░░░░░░░ I think fundamentally what ░░░░░░░░ ought to do is ░░░░░░░░ the government to take ░░░░░░░░ less money so that ░░░░░░░░ has to give less ░░░░░░░░ back A 73 000 ░░░░░░░░ tax code is so ░░░░░░░░ This is how the ░░░░░░░░ maintains power It s ░░░░░░░░ all these credits and ░░░░░░░░ back because it takes ░░░░░░░░ much away Of course ░░░░░░░░ s true if you ░░░░░░░░ late you have to ░░░░░░░░ interest but if the ░░░░░░░░ is late they never ░░░░░░░░ interest Wallace Do you ░░░░░░░░ you eliminate the deduction ░░░░░░░░ charitable donations FIORINA Probably ░░░░░░░░ if we added two ░░░░░░░░ back in let s ░░░░░░░░ those are the two ░░░░░░░░ popular deductions the charitable ░░░░░░░░ donations and home mortgage ░░░░░░░░ deduction good Let s ░░░░░░░░ two more back in ░░░░░░░░ fundamental design philosophy however ░░░░░░░░ lower every rate close ░░░░░░░░ loophole because government takes ░░░░░░░░ Wallace But you would ░░░░░░░░ both of those deductions ░░░░░░░░ I said probably I ░░░░░░░░ even if we put ░░░░░░░░ back in can you ░░░░░░░░ how much simpler that ░░░░░░░░ be This is what ░░░░░░░░ government does It takes ░░░░░░░░ too much money and ░░░░░░░░ with all those deductions ░░░░░░░░ loopholes it exerts power ░░░░░░░░ could live with two ░░░░░░░░ Chris I could live ░░░░░░░░ the charitable and the ░░░░░░░░ mortgage deduction But this ░░░░░░░░ what always happens Everybody ░░░░░░░░ oh you can t ░░░░░░░░ those away for 73 ░░░░░░░░ pages never gets reformed ░░░░░░░░ gets reform The fundamental ░░░░░░░░ you have to have ░░░░░░░░ blueprint to have fundamental ░░░░░░░░ You know why this ░░░░░░░░ never happened Because everybody ░░░░░░░░ ox is going to ░░░░░░░░ gored If you go ░░░░░░░░ 73 000 pages down ░░░░░░░░ three pages everybody s ░░░░░░░░ gets gored every politician ░░░░░░░░ lobbyist every accountant every ░░░░░░░░ The only people who ░░░░░░░░ are the small the ░░░░░░░░ the new business The ░░░░░░░░ code the complexity of ░░░░░░░░ favors the big the ░░░░░░░░ the wealthy the well ░░░░░░░░ It s called crony ░░░░░░░░ Republicans have engaged in ░░░░░░░░ as well as Democrats ░░░░░░░░ you level the playing ░░░░░░░░ by simplifying then you ░░░░░░░░ the small all powerless ░░░░░░░░ the middle class.”