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Companies sending an open letter to congress they want action on closing the budget deficit and shrinking the national debt.
Among those signing it Jamie Dimon of JPMorgan Jeff Immelt GE's guy Microsoft's Steve Obama.
-- -- -- -- -- The plan should include comprehensive and pro growth tax reform.
Which broadens the base lowers rates raises revenues and reduces the deficit.
Joining us now is Grover Norquist of Americans for Tax Reform -- you all of the Paramount opponent of any kind of tax increase what do you make about lap.
Well -- -- and actually take action created this ad revenue increase in the Republican position certainly the taxpayer position.
Is that if you have more growth that the economy grows at 3% a year instead of 2% here.
For one decade you get two and a half trillion dollars of additional revenue.
You want more revenue have a pro growth tax policy take the top rate of 35 not as Obama wants to do up towards 44.
But down to 25 as Ryan.
And so you -- -- talked about it you approve.
Of raising tax revenues.
You -- approve of that if he he's lowering tax rates.
I'm in favor of higher revenue coming from economic growth.
Not from higher taxes what.
Simpson Bowles -- -- this is an attack on the president's position which is higher marginal tax rates not lower marginal tax trip to -- slap in the face to present.
That's that's that's help that's -- take away on this -- by eighties that you've got somebody who wanted to argue that Schumer for higher taxes.
Could tell life she revenue I think they mean tax increases and then he could design the tax increase she wants -- to a certain extent that the business guys.
-- wrote something that hedge them that did the has a lot.
They didn't really come down hard however lower marginal tax rates is Romney's position that's the exact opposite of Obama's position and going for growth as the as the way to raise revenue.
That's exactly the position that the -- Republican parties report there is only one plan on the table by the -- that fits the bill of what these -- people.
Eighty -- she has talked watches the Ryan plan.
Which -- passed with every single Republican vote minus four guys in the house representatives has -- for the Republican senate and an outline form has Romney's positions so.
They have in fact -- endorsed the only.
Written plan which is the Republican plan to reform entitlements.
To block grant welfare as Clinton did with AFDC.
But to do with.
Most of the 185.
Different welfare programs that the federal government runs needs -- that is -- -- comfortable with the way things ago.
If Romney gets into the White House and Republicans do well in the senate Republicans keep control of the house tax reform lower marginal rates you think is gonna happen.
Oh absolutely we think the reason why I believe it's gonna happen not on that Romney says -- fort.
But you have -- Republican House which is actually voted on this a real bill in legislative form they've actually done a budget.
Republicans in the senate who voted for real budget.
The alternative there's there's -- -- Obama budget.
Except an outline form -- it no Obama budget the single Democrat.
Has voted for Simpson Bowles by the way if you actually read it most of the numbers -- the page numbers but -- couple numbers that actually matter.
Taking taxes for making and a half percent of GDP to 21% of GDP.
Over a decade that is a five trillion dollar tax increase -- you it tells you they like Simpson bolster up.
You mean the five trillion dollar tax increase I'm surprised at how many members of congress are unaware of how big -- tax increase Simpson balls.
It's a wanna ask you if the debt is -- you really big and prominent issue in this election yesterday we look at the calendar.
When we look to the debt clock.
We found that in the last fifty days.
Our outstanding national debt have gone up precisely.
200 billion dollars is 51 days now is go up to what unfolded so it is that sort of four billion dollars today.
I think this is the sleeper issue because it's not that prominent in the election campaign -- surprise -- this but I don't think -- prominent and how about you.
And the deficit -- another way of saying the explosion of spending over the last four years under Obama and Reid and Pelosi.
The debt is sort of they spent so much they couldn't even tax enough to pay for -- and the dead wrong is not pounding that -- He's not pounding -- focusing on spending which I think.
Is more important actually than than than the deficit because the death that spending is all the money they -- -- taxes plus the stuff they borrow.
Spending is the total damage to government passed the economy.
They've got -- shows you how out of whack there are that they can -- are usually a good debt is just a number but when you say is the government spending your money well we'll cancel hundreds senators are.
That's something specific that you can hang your hat on rather than just -- well I get -- -- -- much and they're wasting it but all you are you satisfied with the way the Republicans and Romney and -- ongoing at this are -- hard enough.
I think when they speak they're clear about where they want to go interpreted or seen through CBS's explanation.
It's a little -- that's why Romney did better and Ryan did better when they had a debate.
Where in usher Biden interrupted a bunch of times but they were able to talk to the American people -- point David I mean I think.
Did the Republicans on the -- and -- You'll fighting the -- media.
Because the message has to be filtered through the establishment media and it doesn't go through that -- -- and and actually Romney to Europe why the fact is I think Romney could do more to focus on those spending mistakes is as awful spending -- I'm cylinders just the tip of the iceberg yet it's at Citi iceberg and Romney's not going there is -- -- -- -- emerging as a nine seismic.
A great I mean I I think he should have flown to Chicago during the -- strike to show how the Democratic Party cannot stand up and organized labor.
They're not with teachers are not for education -- for the teachers union which is not the same thing as education.
Painfully not the same thing.
I think they're ways they could have dramatized -- on the other hand he's busy winning.
That's exactly his advisors are probably are okay -- that's cover we're reading -- you want it was characterized by president bombers are rich evil nasty guy overly -- -- -- you down you 47% he doesn't like Q.
He's counter that image he's winning.
I mean what what's wrong -- a few hours on national TV -- filtered yes yes interrupted but but reasonably on filtered.
Has has destroyed.
Million dollars in negative ads were supposed to have accomplished you think Romney wins.
And he points.
In the popular vote -- in the popular but -- -- -- more than four at this point -- moving in the right direction Florida's looking a very good a minute just now and the national numbers are going well.
Mean obviously would would -- the women's vote is going as well as it is the attempt by the about administration to slander.
Romney has failed.
-- up to your predictions yeah.
I said -- Romney wins with five point sensitive private postal prediction but now myself and I'm glad to see the -- and -- with degrees in.
-- to -- do you think I get my information and watch your show.
Eight milliseconds but do you really that you do really on a regular basis yeah.
I was -- -- and blasted after work sometimes -- land so flat.
I really am but I can imagine if you can stomach and you -- I have a pathetic failure of our dumb but I -- -- -- -- -- -- -- -- -- --