Krauthammer: Tax Reform ‘Not Impossible But It Is Without a President’

BAIER Charles KRAUTHAMMER Look ░░░░░░░░ is the one who ░░░░░░░░ the commission Simpson pols ░░░░░░░░ recommended exactly that And ░░░░░░░░ was the great success ░░░░░░░░ what Reagan and tipp ░░░░░░░░ Neal did in 1986 ░░░░░░░░ mean it s not ░░░░░░░░ obvious but it s ░░░░░░░░ one it s the ░░░░░░░░ grail of social policy ░░░░░░░░ it s the one ░░░░░░░░ one of the rare ░░░░░░░░ where it meets the ░░░░░░░░ of the left and ░░░░░░░░ It s a fairness ░░░░░░░░ which the left is ░░░░░░░░ looking for Because it ░░░░░░░░ the rich who can ░░░░░░░░ the lawyers and the ░░░░░░░░ who impose the loopholes ░░░░░░░░ then who are able ░░░░░░░░ find them On the ░░░░░░░░ hand for the right ░░░░░░░░ economic efficiency Every tax ░░░░░░░░ every deduction is a ░░░░░░░░ that slows down economic ░░░░░░░░ is I because efficiency ░░░░░░░░ is the perfect legislation ░░░░░░░░ it needs leadership You ░░░░░░░░ got to have a ░░░░░░░░ who campaigns on it ░░░░░░░░ on it and with ░░░░░░░░ like Paul Ryan running ░░░░░░░░ house it could be ░░░░░░░░ It s not impossible ░░░░░░░░ it is without a ░░░░░░░░ Obama ignored his commission ░░░░░░░░ s look at the ░░░░░░░░ two candidates in each ░░░░░░░░ about what the main ░░░░░░░░ on tax reform Donald ░░░░░░░░ says he wants to ░░░░░░░░ the current seven brackets ░░░░░░░░ four you just heard ░░░░░░░░ with the top marginal ░░░░░░░░ of 25 Tax long ░░░░░░░░ capital gains and qualified ░░░░░░░░ top marginal rate 20 ░░░░░░░░ a substantial zero bracket ░░░░░░░░ lower income individuals Lowers ░░░░░░░░ corporate tax rate to ░░░░░░░░ Ted Cruz has a ░░░░░░░░ flat tax on individual ░░░░░░░░ Replaces the corporate income ░░░░░░░░ and all payroll taxes ░░░░░░░░ 16 business transfer tax ░░░░░░░░ a number of complex ░░░░░░░░ of the current tax ░░░░░░░░ Lowers the rate on ░░░░░░░░ gains and dividends to ░░░░░░░░ Interesting Well I mean ░░░░░░░░ are a continuation I ░░░░░░░░ of a Republican line ░░░░░░░░ thinking that again the ░░░░░░░░ code is too simple ░░░░░░░░ need to be reduced ░░░░░░░░ combined with that there ░░░░░░░░ 2 trillion sitting overseas ░░░░░░░░ companies that won t ░░░░░░░░ it here because of ░░░░░░░░ high corporate tax rate ░░░░░░░░ think there is a ░░░░░░░░ sense that something has ░░░░░░░░ be done about that ░░░░░░░░ both capture that Donald ░░░░░░░░ has been critical of ░░░░░░░░ funds and so forth ░░░░░░░░ the tax rate This ░░░░░░░░ where the economic populism ░░░░░░░░ him starts to show ░░░░░░░░ has been very critical ░░░░░░░░ the level of taxes ░░░░░░░░ are paid by the ░░░░░░░░ wealthy hedge fund owners ░░░░░░░░ what you hear from ░░░░░░░░ GOP Is cutting taxes ░░░░░░░░ and right That s ░░░░░░░░ But the other half ░░░░░░░░ that everybody understands what ░░░░░░░░ are you going to ░░░░░░░░ in the reason nobody ░░░░░░░░ about it because as ░░░░░░░░ says they are all ░░░░░░░░ The mortgage interest Charitable ░░░░░░░░ employer provided healthcare Unless ░░░░░░░░ cut the big loopholes ░░░░░░░░ are not going to ░░░░░░░░ anywhere with tax reform ░░░░░░░░ to create a huge ░░░░░░░░ in the budget Which ░░░░░░░░ Simpson bowls Or cap ░░░░░░░░ across the board Just ░░░░░░░░ it and don t ░░░░░░░░ to have a fight ░░░░░░░░ the mortgage people You ░░░░░░░░ hear from a candidate ░░░░░░░░ if you don t ░░░░░░░░ on it you will ░░░░░░░░ enact it We ll ░░░░░░░░ much more time I ░░░░░░░░ to talk about tax ░░░░░░░░ along the way That ░░░░░░░░ it for the panel.