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News on The 700 Club: March 28, 2017

As seen on "The 700 Club," March 28: Lesson learned: Can Trump build consensus on tax cuts? 'There's a new sheriff in town': Ambassador Nikki Haley vows to take on the UN, and more. Read Transcript

Well, welcome, folks, to this edition of "The 700 Club."

You know, the choice facing the president is,

does he let Obamacare blow apart of its own?

Or does he step in somehow to save it

and join with the Democrats?

I think that's the question facing him.

And does he move on to something else?

Or does he bring recriminations against the Freedom Caucus?

Well, we're going to talk to Steve Moore about that

later on.


Well, tax cuts are the big thing this morning,

aren't they?


PAT ROBERTSON: Well, we'll see.

All right.

I think Americans are waiting to find out where this goes.

The president and Congress are going

to have to agree on how much they're planning to cut taxes.

The White House may even reach across the aisle

to some Democrats, as well.

Gary Lane has the story.

GARY LANE: With the health care defeat,

President Trump learned that building consensus even

within his own party can be extremely difficult.

Convincing Congress to pass meaningful tax reform

may be just as hard.

And after the health care loss, the White House

may look across the aisle for some votes.

I think it's time for our folks to come together.

And I also think it's time to potentially get

a few moderate Democrats on board, as well.

GARY LANE: But Senate minority leader Chuck Schumer

suggests the president may need to become more like a Democrat.

He moved so far to the hard right

that it's virtually impossible for us to work with him.

If he changes, he could have a different presidency.

But Trump is unlikely to change his conservative tendencies,

at least when it comes to cutting taxes and moving

the economy forward.

The US corporate tax rate is among the very highest

in the world.

The president says, if the United States

is to attract businesses from overseas,

it must drop the rate down from 35% to 15%.

America would become a country with one

of the lowest corporate tax rates in the world.

Trump says he also wants to lower the tax

burden on American families.

However, the exact rate may be up for negotiation.

I think that, moving forward, the president's vision

on lowering taxes for every American

is what's going to unite not just the Republican Party,

but I think some of those Democrats

are going to come on board, as well.

If we can provide one of the biggest middle-class tax

cuts in the history of this country,

I think that's important.

GARY LANE: Also part of the president's plan?

A border tax on imports.

He says that will even the playing

field with other countries who haven't played fair on trade.

It's designed to bring in more money

to offset the loss of revenues to Washington from the tax


But Congressman Mark Meadows, chairman

of the conservative House Freedom Caucus,

predicts real tax reform with lower

rates will generate more income and greater economic growth,

which would help both businesses and consumers.

When we start to grow the economy at 4%, 4.1%,

it actually not only increases wages,

but it puts more money in Americans' pockets each

and every day.

GARY LANE: Gary Lane, CBN News.

Well, with us now is our friend Steve Moore,

an economic advisor to the Trump campaign.

And, Steve, let me ask you this question that

started the program.

I know there's such recrimination.

And there must be some real bile in people's troughs.

But would you let Obamacare just fall of its own weight

till next fall and then try to rescue it?

Or would you reach in now and try to save it?

Hi, Pat.

Good morning.

And I would say this, that I think that we have

to entirely repeal Obamacare.

There's nothing salvageable about that law.

And, you know, I think Trump summarized the problem very

well last week when he said, if we

stay on the current course with Obamacare,

the entire health insurance market

is going to be destroyed.

And nobody's going to have health insurance.

So, you know, the liberals say, oh, you know,

10 to 15 million people are going

to lose their health insurance under the Republican plan.

Everybody's going to lose their health insurance

if we stay on the current course that we're on because it

is like the Titanic.

And there's no way to save it.

And by the way, Pat, I'm going to say this.

I'm going to make a prediction on your show.

I believe, within the next three to six months,

we are going to revisit this issue and maybe even sooner

than that.

And we are going to get this thing passed.

And it's going to be if not entire repeal, repeal

of almost all of Obamacare.

And, by the way, why don't we try

to use the free-market system, the free-enterprise

system to lower health care costs

through competition and choices for consumers?

Let people buy insurance across state lines.

If you do all of those things, you really

fix the health care system.

You make it affordable to people.

That's the big irony, by the way, of Obamacare, Pat.

What is the title of that law, the Affordable Care Act?

It actually should be called the Unaffordable Care Act!

PAT ROBERTSON: That's right.

Well, what about taxes?

You know, it used to be you could

count on a Republican majority passing legislation.

Can you count on the Freedom Caucus

to come in now for meaningful tax reform?

We've got to get this done.

You know, I've said since the start of the year.

I've said it a couple of times on your show.

There's two must-do items on the to-do list

of Republicans this year.

We've got to get rid of Obamacare.

And we have to provide a tax cut for families and businesses.

By the way, just one slight correction on your previous

report on the corporate tax.

Your reporter said we have among the highest.

We're not among the highest corporate tax.

We have the very highest of all the countries in the world.

We're at 40%.

The rest of the world, most of the countries we compete with--

Germany and Japan and Australia and Ireland

and Canada, Mexico--

they're closer to 20%.

It's like a head start program in the United States

is giving to every country that we compete with.

And, by the way, I believe what Congressman Meadows just

said is very true, that, if you bring that corporate tax

rate down to, say, 15% or 20% as Donald Trump

and Paul Ryan want to do, I believe

that will actually raise revenue for the government.

And you know why, Pat?

Because all those businesses that

have been leaving the United States, all of a sudden that's

going to be a like a magnet.

They're coming right back.

Well, the Democrats have this knee-jerk reaction to anything

Trump proposes.

And anything that looks like they'll

put a few dollars in the pocket of successful people

is anathema to them.

Do we just run over the Democrats?

Or do you think you'll get some on board to help?

Look, I would love to see a bipartisan victory.

Why not have a big tax cut for middle-class families,

lower the tax rates for not just our corporations, by the way,

Pat, but for our 28 million small businesses out there?

I mean, when you started your business,

it started as a small business and grew into a big business.

And that's the American dream, right, to build your business.

And then why not add some infrastructure spending,

which is what the unions want, call a jobs program,

and then try to get 65 or 70 senators with a number

of Democrats on board?

I'd love to see that.

But I don't know yet, Pat.

I don't know whether the Democrats

are willing to be cooperative.

So far, they've said no to everything

Donald Trump wants to do.

Well, now, the House Ways and Means Chairman Kevin Brady's

got a tremendous tax plan.

Will it be the framework, do you think, for the bill coming out?

Well, there's going to be work done.

You know, this is a sausage-making factory

here in Washington.

It's never too pretty to watch.

But I think we're going to come out with a great tax bill.

I think it's going to lower business taxes,

provide relief for middle-class families.

Another feature of this, Pat, I really like--

because, as you know, I work with Donald Trump on this tax


we want to provide for those companies like General Electric

and Boeing and Apple that have literally hundreds of billions

if not trillions of dollars overseas.

Why not just tax them at 10%, bring that money

back to the United States to create jobs,

to build factories, to pay workers

more money in their salaries?

And then not only do you have a stimulus to the economy,

but, Pat, then you get-- if my math is right,

10% of $1 trillion dollars--

$100 billion of revenue for the government.

So, as I see it, that's a win-win for everybody.

Well, this deal, are they going to just fix the rates

or actually go into the tax code?

They can't reform the total.

That monstrosity's too much for one time.

They're just going to try to cut the rates.

Is that the deal first off?

Well, I've devoted 30 years of my life, Pat, to tax reform.

And I'm an old Steve Forbes, Jack Kemp flat-tax guy.

I'd love to get rid of all the deductions and loopholes

and carve outs and special interest provisions

and get the rate down to 17% or so.

Why not have a postcard return, Pat?

Why not make it really easy for people, in 15 minutes,

to fill out their tax form?

As you know, we're now in tax season.

You know, I've been staying up late

at night trying to figure out how much I owe night

after night after night.

And, you know, why does it have to be so complicated, Pat?

The only people who benefit from that

are tax lawyers, accountants, and politicians.

Well, they're the lobby that would stay in

for the current bill.

You're exactly right.

Well, Steve, I hope you're right.

Well, you know, I'll tell you this, Pat.


Everybody in this town of Washington that I'm sitting

in-- the swamp--

they don't want to reform the tax system because that's how

Washington derives its power.

But I tell you, you get out of Washington, DC

across the country, and people want a simplified tax system.

And they want to pay less taxes.

Well, Steve, I hope you're right.

And I hope the American people will

get behind you and Brady and others

who are so sensible in this whole matter

and listen and shut up the yapping on the left that

says, oh, it's just tax cuts for the rich.

They want to, you know, put money

in the pockets of the rich on the backs of the poor and all

that stuff.

Steve, God bless you.

Let's hope you're right.

We're with you.

Thanks, Pat.

We're going to win.

We're going to win on both of these things.

I promise you.


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