so unfair! waaaa
HARWOOD: We're at 60 seconds, but I gotta ask you, you talked about your tax plan. You say that it would not increase the deficit because you cut taxes $10 trillion in the economy would take off like...
(CROSSTALK)
HARWOOD: Hold on, hold on. The economy would take off like a rocket ship.
TRUMP: Right. Dynamically.
HARWOOD: I talked to economic advisers who have served presidents of both parties. They said that you have as chance of cutting taxes that much without increasing the deficit as you would of flying away from that podium by flapping your arms.
TRUMP: Then you have to get rid of Larry Kudlow, who sits on your panel, who's a great guy, who came out the other day and said, I love Trump's tax plan.
(CROSSTALK)
HARWOOD: The Tax Foundation says -- has looked at all of our plans and -- and his creates, even with the dynamic effect, $8 trillion dollar deficit... QUICK: Gentlemen -- we'll -- we'll get back to this -- just a minute -- just a minute we're gonna continue this.
I wanna talk taxes...
QUINTANILLA: Hold it. We'll cut it back to you in just a minute. Becky's moving on.
QUICK: Dr. Carson, let's talk about taxes.
You have a flat tax plan of 10 percent flat taxes, and -- I've looked at it -- and this is something that is very appealing to a lot of voters, but I've had a really tough time trying to make the math work on this.
If you were to took a 10 percent tax, with the numbers right now in total personal income, you're gonna come in with bring in $1.5 trillion. That is less than half of what we bring in right now. And by the way, it's gonna leave us in a $2 trillion hole.
So what analysis got you to the point where you think this will work?
CARSON: Well, first of all, I didn't say that the rate would be 10 percent. I used the tithing analogy.
QUICK: I -- I understand that, but if you -- if you look at the numbers you probably have to get to 28.
CARSON: The rate -- the rate -- the rate is gonna be much closer to 15 percent.
QUICK: 15 percent still leaves you with a $1.1 trillion hole.
CARSON: You also have to get rid of all the deductions and all the loopholes. You also have to some strategically cutting in several places.
Remember, we have 645 federal agencies and sub-agencies. Anybody who tells me that we need every penny and every one of those is in a fantasy world.
So, also, we can stimulate the economy. That's gonna be the real growth engine. Stimulating the economy -- because it's tethered down right now with so many regulations...
QUICK: You'd have to cut -- you'd have to cut government about 40 percent to make it work with a $1.1 trillion hole.
CARSON: That's not true.
QUICK: That is true, I looked at the numbers.
CARSON: When -- when we put all the facts down, you'll be able to see that it's not true, it works out very well.
QUICK: Dr. Carson, thank you.
KASICH: Listen, I want to just comment.
HARWOOD: Governor Kasich, hold it, I'm coming to you right now. The...
KASICH: Well I want to comment on this. This is the fantasy...
HARWOOD: Well, I'm asking you about this.
KASICH: This is the fantasy that I talked about in the beginning.
HARWOOD: I'm about to ask you about this.
That is, you had some very strong words to say yesterday about what's happening in your party and what you're hearing from the two gentlemen we've just heard from. Would you repeat it?
KASICH: I'm the only person on this stage that actually was involved in the chief architect of balancing the Federal Budget.
You can't do it with empty promised. You know, these plans would put us trillions and trillions of dollars in debt.
I actually have a plan. I'm the only one on this stage that has a plan that would create jobs, cut taxes, balance the budget and can get it done because I'm realistic. You just don't make promises like this.
Why don't we just give a chicken in every pot, while we're, you know, coming up -- coming up with these fantasy tax schemes. We'll just clean it up. Where are you gonna clean it up?
You have to deal with entitlements, you have to be in a position to control discretionary spending. You gotta be creative and imaginative.
Now, let me just be clear, John. I went into Ohio where we had an $8 billion hole and now we have a $2 billion surplus. We're up 347,000 jobs.
When I was in Washington, I fought to get the budget balanced. I was the architect. It was the first time we did it since man walked on the moon. We cut taxes and we had a $5 trillion projected surplus when I left.
That's was hard work. Fiscal discipline, know what you're doing. Creativity.
This stuff is fantasy. Just like getting rid of Medicare and Medicaid. Come on, that's just not -- you scare senior citizens with that. It's not responsible.
HARWOOD: Well, let's just get more pointed about it. You said yesterday that you were hearing proposals that were just crazy from your colleagues.
Who were you talking about?
KASICH: Well, I mean right here. To talk about we're just gonna have a 10 percent tithe and that's how we're gonna fund the government? And we're going to just fix everything with waste, fraud, and abuse? Or that we're just going to be great? Or we're going to ship 10 million Americans -- or 10 million people out of this country, leaving their children here in this country and dividing families?
Folks, we've got to wake up. We cannot elect somebody that doesn't know how to do the job. You have got to pick somebody who has experience, somebody that has the know-how, the discipline.
And I spent my entire lifetime balancing federal budgets, growing jobs, the same in Ohio. And I will go back to Washington with my plan.
QUINTANILLA: Governor -- Governor. thank you, Governor.
KASICH: And I will have done it within 100 days, and it will pass. And we will be strong again. Thank you.
The third Republican debate transcript, annotated