Rep. Michele Bachmann: Reagan Was No Flat Taxer

Bachmann throws cold water on the idea of a flat tax with the ultimate insult.
3:00 | 10/28/11

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Transcript for Rep. Michele Bachmann: Reagan Was No Flat Taxer
We I had an opportunity here to talk. To Michelle Bachmann is you know she's oranges -- residents. And she's been talking about her economic plan interest -- discussion. That staff shake up here in New Hampshire take a listen. Bachmann thank you for joining us thank you argue with each so I want to ask you -- your economic plan I have but the first of got to ask you about this controversy in New Hampshire and -- your whole New -- staff resigning in. The the press release they put out is astounding -- -- the accuser national campaign of being rude unprofessional dishonest. Cruel. Abrasive it's courteous dismissive. -- user -- -- -- string of adjectives what would happen in New Hampshire. Well we're replacing the staff that's in New Hampshire over adding staff in South Carolina were adding staff in Iowa but I will tell you quite frankly. I have never had one question about staff issues the questions I get are on my economic plan. Because right now with persistent nine point 1% unemployment when you have international assassination. Attempts here and our Washington DC. When you've got us losing a rock essentially the president giving away the gains that we made. That's what people are nervous about that's what people care about that's what I'm talking about every day on the ground. -- I understand them and I don't want to ask you about that -- but what what. Did happen but these are people who -- that they actually believed -- -- that the White House needs somebody like Michelle Bachmann. And and yet. Well course of course when it comes to personal issues that something that certainly we don't discuss because again what people are concerned about. Is the fact that they want -- now as president and I and it states what is my plan. To turn in nation around and went in Iowa for instance -- last summer in the straw poll. It was my message that I gave to people that they resonated with because they want to know someone can actually turn the economy around and get -- get -- growing again. My background as that of a federal tax litigation attorney I've taken from scratch started a new business and run profitably. That's the backbone of our country about 80% of small businesses right now are in very dangerous waters and so we want to make sure that we. Have president who gets small businesses business as I do. You you won that straw poll. Obviously you and I remember when -- I'd get a at a set out as we all heard it an image less time than any other candidate in the -- will only woman to ever -- the -- so we're delighted and you did you told me months before that you -- set out you're gonna -- natural born and at a time when people that was ridiculous and you want it. But what's happened since then you were taking all. You work with people were were and some -- -- of the front -- certainly the -- -- Iowa. What what's happened what why have things kind of heat from the outside looks at whether. Mantis volatility that's happening and I think people -- the Wall Street -- see that the academy has tremendous volatility. It is like we have a political Wall Street right now we UC candidates -- -- and you see candidates come down. But what we're going to be looking at what we're focusing on his January 3. Iowa being the first caucus in the nation and so were -- that ground work for success in Iowa that's what we're focused not a national beauty contest. But -- state by state by state and where we can perform and do very well that's what we're looking for return. Now I saw looking at your FaceBook page suggestion that Rick Perry basically ripped off your economic. You know borrowed heavily from your -- I was thankful I was thankful and grateful because. Imitation is the most sincere form of flattery and so we're grateful and so we're. We're thankful that the ideas that have been talking about for a long time again. I'm a former federal tax litigation turning to suspend my life. The tax system that will produce an economic miracle is one that we've already seen in the United States and that's when Ronald Reagan put into place. And the 1980s and it created the greatest boom that we've had. And that's what I'm doing I'm pulling out. Leaf out of Reagan's plan which is to simple -- -- simplify and -- the tax code. And that's essentially what we're praying for it was a plagiarism that that he did it. Was it basically taken out of -- will -- ideas that I've been espousing are those again that lower the tax rates. Flatten it make it far more -- far less complex. But also make it so that the average American. Can fill -- their taxes on a postcard and I've been talking about this for months these are all good ideas and other candidates. Want to come and take these ideas out of my plan. They're more than happy to take them but also what I've already done and sad is that I offer my plan to Barack Obama the president. Because I don't want to wait fourteen months I want you to -- I would just cry and I president takes my plan wholesale and puts it at a place now he can take the credit sought. I've been reading through your plan as it posted -- -- on -- website but but I there's some specifics to help -- fill in some blanks. We Perry came out -- is a flat tax 20% across the board. Exemption to 121500. Per minute -- suburbs that are what are the specifics on here's what. Is your tax rate -- what is it a flat tax because here it says. You want to reduce the number of tax brackets that doesn't sound like a flat tax wants to reduce -- to warm. Well again what with the principles and are in for -- Reagan's reagans didn't Reagan didn't have one tax rate. Ultimately he was able to get the rate down to 28%. And 15%. And he was working together with a Democrat controlled congress. What my plan -- -- to abolish the tax code. And bring those rates down they'll be more details that are forthcoming. But right now what I'm talking -- -- principles and the principles and -- that have worked their proven this is not an untested theory. I want something that's provable because again. The number one issue when I talk to businesses is uncertainty. They they air there's so tired of Washington DC. Jerking their chain is businesspeople. They can't make decisions right now because they don't know what left wing ideas going to come out of Washington DC they want certainty and I want pressure of the business community. So what worked in the eighties with -- with the principles that were pro growth policies. -- -- of the policies that I understand is a tax lawyer. That I intend to put into place to bring about certainty so not a flat tax you're not favor -- flat tax on the order of Ronald Reagan would have put -- was not flat tax he had several different -- yet again his principles were to flattening and simplifying the tax code so no one -- yet we're -- in -- -- there there there will be -- there will be on the order Ronald -- the principles that brought about this economic growth and that building more information forthcoming. Now Mitt Mitt Romney has been hammered by the White House but Rick Perry. But by by you by others for. Flip flopping on May -- many issues. He is he too badly damaged. To be able to beat Barack Obama we -- what's your sense on the. While the voters have to make that decision but clearly I can tell you one thing that I -- from the voters in here from the voters. They absolutely abhor the federal government taking over their health care decisions. Because people lost their ability to be able to make their own choices under -- health care. Because the federal government has essentially taken over 160 the economy but what's worse is they are effectively putting a tax. On every American on every job and on every job creator that won't help the American economy. And that something that people will have to judge for themselves and you saw Romney refused to take position on the Ohio. Initiative to do away with the individual mandate for health care. What did you make of that why stand with John -- -- I think that the governor Kasich is doing a wonderful job and I'm very grateful for the work that he's. He's had sent out a lot of criticism -- -- John Cusick is doing exactly what needs to be again and again that's a state level but I agree with him. And in Romney not taking positions -- anything about his leadership and again that's up to the governor and that's what voters will decide the case sought got to ask you are here. Your constituents that are back in Minnesota many of them say that they want you if you do not win the Republican nomination to run for reelection in Minnesota. Will you reconsider you've said you won't write what we reconsidered as any chance he would run again for congress. What I have said is that I am focused on the presidency the United States and -- and winning that position. Not because I have -- self aggrandizing -- who I am but I do believe that I have the best ideas and and more important. I the political will to carry out. People -- seen in the past when they've elected people to office that those people once they get into office don't necessarily deliver. That's a real distinction between me and other candidates I do what I say and I say but I mean. And people know that for me but you categorically rule out running for -- election for use. I want you know I I served this -- -- people in the United States wonderful people. Lake will look at as the area that I get to represent the best humored salt of the -- people on the planet. And I am so grateful that they have appreciated my service may have allowed me. To be able to represent them here in Washington. Now what I want to do is take that voice and a trip to the halls of congress and take it into the White House where it hasn't been heard for very long time. But it sounds that you wouldn't rule out again. Well what I'm doing is focusing on the press are absolutely a very seriously and I'm I'm 100% focused on the president's all right congresswoman Bachmann thank you -- time talk to us I'm sure we'll see you probably -- -- next. -- well we'll see you on the trail gets the job thanks. Our -- so again not on the subway blacks that wasn't even -- still subway series so it's just a minute we have two things here one. She may run for congress -- -- doesn't work out and to. The Texas -- a tax attorney doesn't have a tax plan yet. Yet and yet she says -- plans and ripped off by repair. But doesn't exist yet but all say but there is significant again because when -- -- announced she was running for president. She was definitive I am not going to run for reelection in. Copying it to congress from from Minnesota and now as you saw she's not answering the question -- what we're -- were all the candidates are above average. -- then they'll be a lot of candidates such up to run against you. Is that going to be that the second the problem for them yet so you know I think that that if she's going to be you know I talked to her folks of course two around it they can they claim that they -- -- -- To coming back. In Iowa what they talked about as the 7030 problem. Didn't Mitt Romney faces he's got 30% support he's got separated don't like him permanent came tanks and they say he will -- -- Canada. They go that. Michelle Bachmann there we go if she gets plan and she also won the straw -- did you know that these attacks -- All right well that's it for top line I'm Amy Walter remember we -- we follow us on the twitters at Amy Walter at. Jonathan Karl who is John that giant Carlisle had -- I was -- policy on the winners follows on the twitters will be back Monday with lots more fun. -- Halloween. Forty dressing as a candidate. -- -- --

This transcript has been automatically generated and may not be 100% accurate.

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