Corporations use all sorts of complex stratagems to move their profits overseas, and thus escape the U.S. income tax.

If you ask any economist, they'll tell you all the mortgage interest deduction does is raise the price of the house. So a couple is out looking at the house, they say, "Oh, we love this house, but we couldn't make the monthly payment." And the realtor says, "Yeah, but you're going to get a tax break." So people pay more than they would otherwise. You take a loss even though you're making a gain.

The U.S. has the most complicated and difficult tax system in the world; we've made it hard to file and pay taxes.

France, they're the world champion at soaking the rich on taxes. And at one point, they had what they called a hyper tax, 75 percent, and Gérard Depardieu and many others left the country.

If you get rid of all these giveaways and loopholes and deductions and credits, then you can sharply lower the rates.

When it comes to taxation, Americans are still banging out letters on a typewriter and dropping them in the mail box while everybody else has moved on to texting and Instagram.

Corporations use all sorts of complex stratagems to move their profits overseas, and thus escape the U.S. income tax.