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The Exchange: Breaking the code

Wednesday, October 01, 2014 - 02:30

Congressman Paul Ryan sits down with Rob Cox to talk about tax reform and the importance of lowering rates for both corporations and individuals.

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We don't wanna just lower tax rates on 20% of American -- corporations. And leave that small business guy you know there. That tax cut its complete mess -- everyone agrees but how to get out how we fix tax reform. As a member of the Ways and Means Committee I can tell you it is an easy. On but we have global economy. That is here capital -- mobile and we had the worst meaning highest tax rates in the industrialized world on American businesses. Into a gonna get a rates found that requires base broadening im gonna have to. Get the general interest of lowering rates to trump the special interest of you know how the tax base is currently confronting. -- gonna have to appeal to the competitiveness of America and a pro growth economy. I think we're gonna succeed in doing that in versions is one of those things you know -- -- -- take -- that the Treasury's come out well -- yet I was part of -- -- five -- inversion system that when you play -- animal in trying to -- a fortress America all we'll do is make it easier or more likely that foreign companies by US companies we need to respond. Now with these one off you know punitive things you need to respond with tax reform and so. That's our our viewpoint in the house that's -- I talked about in his book I wanna lower our top tax rate to all businesses to 25%. I want handy. Tax base that is not a worldwide -- system but what people more think of as a territorial system I think that's how you unlock capital especially to truly -- a capitalist locked up overseas. And make America much more competitive the president is very much and class warfare politics and economics. And to understand Republicans well you have to understand. That we keep -- mind on the small businesses of America. Eight out of ten businesses in America file as past groups so best corporations analyses partnerships protect the individual Seneca. The top affected factories now 44 point six. So we hear from the other side of the -- but they're willing to work with us on bringing corporate it rates down we have disagreement on the way to tax -- -- -- -- assembled but put that aside -- -- But we don't wanna just lower tax rates on 20% of American -- corporations. And leave that small business dying and while there Brooke I come from Wisconsin 90% of out of Wisconsin businesses are pastors. Canada our biggest competitor which is just over Lake Superior and they're taxing the businesses that 15%. And where almost 45. So we -- bring both down the individual side in the corporate let's talk but in this is a problem of the Obama initiation they don't want to bring individual rates down. Only willing to bring incorporates down and we think that that's a huge distance.

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The Exchange: Breaking the code

Wednesday, October 01, 2014 - 02:30