Senate blocks Buffett Rule

>>> today's vote is about fairness and undoing a gimmick in the tax code that allows people to pay a lower tax rate than truck drivers.

>> by wasting so much time that even democrats admit won't solve the larger problems, it shows the president is more interested in misleading than leading.

>> gimmick or not, the buffett rule was defeated on a party line vote, but the fight is not over. representative marshall blackburn joins me now. thank you very much for being on the program. house republicans are moving a tax cut this week for small businesses and expected just like the buffett rule to go down a party line vote and want to read what the democrat from california said about this. unless by small businesses and mom and pop businesses you mean paris hilton and larry president clinton , they are peddling a trojan horse . the way it is defined it allows them to take advantage and not real small businesses . what's your response?

>> my response to that is they should look at the small businesses we have in tennessee. we have 96,000 small businesses and another 418,000 individuals that file as sole proprietiors. they would all benefit from having the opportunity to have a lower tax rate . i don't run into people saying i want to be part of the tax me more club. i run into people who say it is regulation, taxation, litigation that is costing us when it comes to creating jobs. what we have to do is lessen that burden and have washington get its out of control spending under control.

>> the representatives say they are the party of responsibility. they add $46 billion to the debt. why is that okay?

>> they use the method of scoring and don't look at the dynamic method. when you look at history and you go back and look at what has happened over the past several decades when you reduce taxes and give the opportunity for a small business and by the way, about 1/3 of those are female-owned. small business entities. you give them the opportunity to keep more of what it is if they are earning. then reinvest that in the growth of that business. you are going to see an expansion of that tax dollar or the earned dollar in the community. we know from all of our chamber of commerce and economic development surveys that those dollars stay in the communities and turn over anywhere from four to six times. that is why job growth and job creation is so important. when you look at the net positive with jobs growth since we had the downturn in' 08, that comes out of the small business sector and that is why we need to push the growth for small businesses and incentivize the potential for businesses to grow. i think that having the small business tax cut is the way to go. you are reducing that first imposition of the first dollar of taxes on the small businesses .

>> on march sixth on the program, you said this about a presidential endorsement. i want to play it.

>> you are served well by having competitive primaries and not enjoying the language of personal attacks. i don't think it hurts us it goes further. people are more engaged and showing up at the ballot box .

>> for all intends and purposes, everyone sees mitt romney is the nominee.

>> i think he will be the nominee. he is the presumptive nominee . i always stay out of primaries and looking forward to the time when he have an official nominee. i think mitt romney will be the nominee and he will be the next president of the united states .

>> you are endorsing him this morning?

>> no, i'm not making official endorsements. come on now, luke. i am saying i think he will be the nominee. i enjoyed working with the rnc to raise the money that will be there for that eventual nominee to make certain that we have a republican in the white house .

>> should a woman being his vp pick?

>> think what mitt romney will do is choose the most qualified person for the job. it doesn't matter if it is male or female. what we need to do is look at this. jobs and the economy and health care and the price of gas at the pumps. those are the issues that are going to define this election. when you look at the philosophical issues, it's freedom, free markets and free people . we are right on the message. mitt romney is right on the message. republicans are right on the message. i think you are going to see house republicans hold the house and you will see us pick up the senate and a republican in the white house .