JENNA LEE (HOST): The Associated Press did a really great article on this today and points out that for 99 percent of the viewers that are watching right now, both candidates don't have a tax plan that would impact anyone very much, Art. In fact, what they point out is that Trump wants to cut taxes on the wealthy and Clinton wants to raise taxes on the the wealthy. So how would that impact your everyday American?
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BETSEY STEVENSON: Well, I think that it will affect average Americans, because we are talking about cutting the tax rate for the richest Americans massively. It's not just about lowering the top rate, but he is also talking about applying that corporate tax rate to lots of wealthy Americans who consider themselves to be pass-through business. So, lots of Americans will have a top tax rate of 15 percent while middle-class Americans will still pay a higher share of their income in taxes. Look, Trump is -- clearly knows how, at least, to hire the right people to use the loopholes to benefit himself. But he has no plan to close those loopholes and ensure that we are able to raise the revenue we need fairly, in order to have an economy that supports all Americans and can -- when we have economic growth -- [ensure] that economic growth can be shared widely.
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STEVENSON: Well, if Art really believes in a tax system where we broaden the base and we close the loopholes, then it sounds like he wants Hillary Clinton's tax plan. Because that's what she is going to do is broaden the base and close the loopholes so people are paying their fair share. We do have things we need to provide. We need to provide national defense, we have things that the public wants, and we need people to be paying their fair share. And right now, the wealthiest Americans are not paying their fair share, they are earning more and the economy is growing for them, but they are not paying their fair share in taxes.
