First of all, he said it's the best simplification since 1986, which is rather like me in the tallest building in the world.

The fact is, they took a 70,000-page tax code and made it more complicated. Then the question rises, well, will the Republicans reform entitlements?

The tax code enriches the entitlement menu.

The tax code enriches the entitlement menu by doubling the child tax credit and making $1,400 of it refundable, which means the check goes out to people who don't pay taxes.

Lowering the corporate tax rate, the proper rate for corporate taxation is zero because we don't know who pays them.

Economists argue about whether a ghost comes out of employees. Wages, shareholders, passed on to customers. If you don't know whose paying a tax, don't have that tax.

Reduce it to 21% is a great thing to do, but any company that was paying 35% needed to fire its lawyers and accountants. The fact is most companies are paying on average about 28% anyway.

So the whole thing here is they said, past this thing, we will get 3% annual growth. They get that. Everyone will forget their complaints about the tax code.

I thought that was some analysis. I hadn't heard anywhere else on a couple of the topics there. I didn't know the average for what corporations were paying was already in the ballpark of what they're lowering it to.

I don't know if they're going to be able to lower it more with their lawyers. You hear different numbers from different people. Well theoretically, it's lowered to 21. Everybody is going to pay 21.

Except there are deductions for R&D and stuff like that. There are a couple still sacred cows that Congress decided are important enough we want to have incentives in the tax code for companies to do that.

I've heard nobody pays 35% or ever dead. It was funny. The conservative side of this, the libertarian side of it has been in favor of lowering the corporate tax rate.

But no, anybody you ever told you 35% was the one who were losing. It's not telling the truth.

And then the arguing that it's a much simpler tax code. I've heard people argue that including Paul Ryan on this very show.

That's right. And then people like George will saying it's gotten more complicated.

Yeah, I don't know about that. And listen, I don't want to give the wrong impression. It is better to have it at 21% which is more competitive globally.

But you know, but the 35% was kind of a straw man.

Yeah, so I'm wondering if the projections of how much it's going to make the economy roar or skewed if they started with an assumption that people were paying 35% which they weren't.

Right. It's not a 14% drop in the pain. It's more like seven.

Yeah, on average. And then this, this homeowner's saying, okay, so I'm into this because I'm a homeowner, right?

As a lot of you are a lot of you aren't and in the future, maybe not being a homeowner will be a good idea.

I just came across something that I didn't know already, for instance, and I've been reading about this over the weekend.

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