mr. mcder mo the is recognized. >> i want the audiences and witnesses to recognize this is a day we all gathered here with silver faces for holding pictures. we are all for tax reform. everybody in this room is for tax reform. we're on the ways and means committee. we do tax reform, right? now mr. johnson has asked you have you studied how low you can get the tax rate if you eliminated tax expenditures, and all the witnesses said they haven't. so i just want to enter into the record the study from joint tax dated 27 october 2011 which talks about what you really have to do if you're serious here. now that study suggests that roughly half the cost of a seven-point reduction, that is from 35 down to 28 would come from the repeal of depleted, accelerated depreciation. yet all the companies have said this is very important. don't take away our accelerated depreciation. and you want to retain it. that means you can only finance about a 3 1/2% reduction. this report says you're going to have to come up with $960 billion, $506 billion comes from depreciation acceleration. i wonder what you actually wou