Transcript: Mitt and Ann Romney's Interview With Diane Sawyer

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This is-- this is a campaign about getting a president that can get America on track again, make sure our kids have a bright future and we stop spending money we don't have. But I know that there will be some who try to make about-- make it about anything else but that and -- DIANE SAWYER: So you think it's a relatability question-- or that matters?

MITT ROMNEY: I think-- I think people want to have a president who knows how to lead, who knows how to create jobs, who can get our economy creating the jobs it should so we can see rising incomes again. They want a president that'll stop the massive deficits that threaten the future for their kids.

DIANE SAWYER: A lot has been made about the Buffett Rule-- going to come up for a vote-- and the fact that your tax plan would give an additional $147,000 by some estimates to the top wage earners in this country. And we understand that last night you talked about maybe HUD would go. You said you may not see that again. Are you going to get rid of HUD? Are you going to reduce the size of the Education Department?

MITT ROMNEY: Well, let me talk about-- first-- the first part of your question which is on taxes. My tax plan, I said key principle is the highest income-- individuals in the country would not pay a lower share after my tax plan. So I'm going to limit certain deductions and exemptions for high income individuals so that even as we lower the rates for all Americans we're not going to shift the burden from-- middle income people to higher income people.I want to help middle income people the most, so that's part one. My-- my plan will not in its final plan reduce the burden paid by the highest income people in the country. I'm not looking for tax cuts for the rich. The democrats always want to say that. But in this case I've made it very clear. My plan will not reduce the burden that's-- that's-- taken by the top few percent 1% or however you want to categorize those of higher income. Secondly, with regards to government agencies, I'd like to streamline, combine--

DIANE SAWYER: But get rid of HUD?

MITT ROMNEY: I-- I'm not proposing any eliminations at this point. But I want to streamline and combine agencies. We'll do-- a great deal of analysis to see which agencies could be combined. Because you know what? There's-- there's too much overhead in Washington. There are too many bureaucrats, there are too many government workers. We've got to cut back on the size of government. And if we do that we'll save a lot of money and make life a heck of a lot easier.

DIANE SAWYER: Do you still face a fairness question as about envy, fairness is concern about envy?

MITT ROMNEY: Well, I think it's unfair that this president's been in office three and a half years and 93% of the people who have lost their jobs have been women. I think it's unfair in this country that-- that we have 50% of our kids in-- in our-- in our-- in our-- 50 largest cities that won't graduate from high school.

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