Sen. Rand Paul (R-KY) went "On The Record" tonight to discuss his "fair and flat" tax plan.

The 2016 presidential hopeful told Greta Van Susteren that his plan is to get rid of the current tax code, because "it's so bad."

"Our current tax code is 70,000 pages and we think it chases jobs and companies overseas," Paul stated. "We got rid of the whole tax code and we have one flat rate - 14.5 percent for a business tax and 14.5 percent for a personal income tax."

Paul noted that currently most people who make $50,000 per year don't pay any income taxes.

"Under our system they still wouldn't, but we go one step further because we want the working class to feel like they're a part of this tax cut," he added. "So we get rid of the payroll tax."

Paul also stated that he "would cut spending in a dramatic way" by eliminating a number of federal departments. 

Watch the video above.

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