Poverty seven times over from the headlines find out how russia could go nuclear British Defense cuts and how britains migrant policy is all thats see all this and more coming up here but going on the ground. Days ago the u. S. Secretary of Defense James Mattis updated in revised americas Global Defense strategy it is a dark vision of the world and calls for a massive defense spending what he calls a Defense Strategy critics say is a blueprint without it. Prescribe medication is widespread on the us market and a frequent cause of death at that point in my life i just felt like everything was my family was literally coming unglued i had actually planned. To commit some sight was all who was made antidepressants so commonly used we were doing what the doctors told us to do we were being responsible and what the real side effects. Was chemically altered what i did was done on a cocktail of lethal drugs. Just because somethings legal doesnt mean its something. Else that was pretty hard with the market for your. Help remove the last election i believe will do more through the young thing we will all soon but you know one of the most often little bushes i saw. Thank you for time im going to move you to the. Skies more leave the blue coats believed to be completely easy showed green looks good. The secret of the armor sure you can you get other corners of the mob boss may be getting us all. Welcome back to go do something week stories out it will cost of all the liberal democrat member of Parliament Lembit a big lets go straight to your obvious fear that russia is about to invade the united kingdom. We should all be afraid its the express after all for crying out loud option and theyre reporting this russia likely to target u. K. With Nuclear Attack if defense funds cut extra warns the extra admiral is someone else not the guy chris perry circus when i do the room tell me what the british army so the Nicholas Carter hes the main man there and he seems to be suggesting also that we could be naked in the theater of war if we make army cuts defense cuts is a good and has made it clear that the russians want to invade britain bring back the cold war because obviously the cuts were talking about just leave us completely exposed and since the European Union will be turning its back on us and troubles busy to who knows what could be happening we could be doing this in russian in a years time thanks to these cuts and on the other hand should the head of the british army be telling the russians that now is a good time to invade im not sure that really works is bill lets remember the russians did tell us that the new super carrier was a convenient big targets lets go to the right lets go to this brilliant strategy one month away from when the start of u. K. Or covert operations to destroy the Libyan Government how well is libya war working well now its your turn its not actually vali its very rude but your turn gives away the concerns in this article the independent reports britain strategy to target smugglers sending migrant boats across mediterranean doomed to fail Study Suggests not the most illiterate of title but in essence whats happened is a learned piece of work i believe by dr kampala Cambridge Universitys institute of criminology says that not only is this an ineffective strategy to try and force people back it could be illegal youre sending them back to very bad circumstances and that could violate that this is a strategy of the British Government to send boats to just stop desperate people from doing what they want to do desperately hope that they might get away from wars and this isnt the first time this has been tried there was a debate about whether the mediterranean forces. Should make it so dangerous so difficult to come across that people wouldnt bother trying the ultimate vote it was no thats a state get that one but britain may be having a go at this now and the independent i think rightly is saying hold on a second you Cambridge University study out of africa i wonder whether the government will have a look at a look at the i think they were aligned in the past forty eight hours former Capital Executive john tizard one of korban shadow minister says that the the one hundred billion pound outsourcing mess should be brought back into democratic control lets go to this story from the canary the reverberations of this multibillion failure of karelia from trouble on the high seas were all at sea with this one to the canary reports exclusive leaked files reveal karelians payments to block Listing Agency and far more this story has rumbled on for quite a while now there are explicit claims thanks in large part to the g. M. B. Union it turns out that im not getting fourteen thousand seven hundred twenty four names at least had been illegally investigated by the Consulting Association a form of blacklisting to try and curb the allegation and im sure well be going to a Consulting Agency to find out whether in fact they were blacklisting your seem to be presenting it like. Oh im just hearing they were shot there we are yes. On the other that this is not about you on brando on the waterfront isnt it we really saying this is how our service is it hospitals schools prisons you name it in the Public Sector being run like on the water yes we are saying that and this are subsidized by the taxpayer well in the sense that the caribbean was making a profit on parity they werent making much of a profit so only being subsidized now well theyve been big movements in the kensington and Chelsea Council here in the richest borer of this country which is part of this country something from kensington and chelsea here are along with a grim story of grenfell the movements arent nearly as big as one would have expected the guardian reports only three out of one hundred sixty social housing towers reka. After grandfather thought as of this week thats right theyve had i think seven months since the incident which killed in the forty which killed over seventy people in Grenfell Tower thats remember that was in large part because the external cladding turned out to be flammable get this action the wrong more buildings clad without climbing all material now then at the time of the incident now the governments trying to fob this off a little bit on the local authorities there saying such a job it says that not very Many Councils are come forward and given the information needed to make these Funds Available but come on lets be realistic seventy people seventy plus people died here and there are tens of thousands of People Living in virtually identical circumstances to this all over the country now that is not exactly the kind of legacy that you expected from grandfather in fairness lembit a quarter of the grunfeld tenants have been permanently rehabbed this means three quarters havent thats all you need to remember and since june all this on the day today when universal credit is on trial in parliament does the employment minister alex sharma give evidence what a context for all of these stories the meadowbrook thank you well from arguably the disastrous rollout of universal credit little lonely housing prices to forty two individuals having as much wealth as nearly four billion of the worlds poorest here to go to oxfams latest inequality award is the engineers u. K. Deputy head of research deborah harder and deborah welcome to going underground to tell me about the report would you go to coincides with the World Economic Forum Meeting in davos in switzerland writes they this week weve got the worlds rich and powerful gathering in the mountains of data and talking about the way that the economy and their level had great statistics of growth and then we have seen great as well they wouldnt say its for their every one but what we find in the data is the billionaires have done extremely well the richest one percent of done extremely well eighty percent of thats happened over the last twelve months what were doing with this report is bringing into this story bring into this. Event in davos the story of everyone else the rest of the distribution the ninety nine percent the fit the bottom fifty percent were talking about the poorest ten percent of people that still live in extreme poverty and particularly were talking about the workers that work hard to help support these businesses profit making enterprise is everything that the economy is founded on and still live in poverty you see youre more goldings the concentration of extreme world is a symptom of a system that is failing is that just well if you look at the way that the economy is rewarding wealth you know you look at for example the billionaires the billionaires have made seven hundred sixty two billion in twelve months from what from a really great performing stock market in many cases and at the same time look at that money you look at well i think what else could it have done if it was distributed more fairly if for example if we ended the tax havens and we were able to capture some of that wealth and put it into a budget that could be spent on Public Services that could really help those at the bottom of the distribution are kind of mass that seven hundred sixty two billion could end extreme poverty seven times over so its about choices right its about an economy thats able to deliver all these returns for wealth at the top that is leaving many behind eyes was what i was getting at when i was talking about your c. E. O. Saying it is into a system that is failing even Mainstream Media were now hearing about whether it is western capitalism that is responsible for these sorts of figures that are in your report here i mean were certainly not alone in raising awareness of the crisis of inequality and the way indeed the system was i mean andy how dayna chief economist of the bank of england has said that the way for example that companies are organized to extract value and deliver it to shareholders is corrosive for the economy so theres plenty of other thinkers that. Worried about this the i. F. s in the case have said inequality and poverty are likely to increase over the next five to fifteen years and thats a concern so theres plenty of other organizations that are concerned about inequality and concerned about the economic and social impacts of it the i. M. F. Hardly a kind of left leaning and zero. Have written extensively on the damaging consequences of inequality for growth and for the prosperity of countries i dont know how defensive some of the. New liberalizations are but the others with as you said about your report that you havent even said it in the report said what are you saying confiscation of the wealth is resources that would you are recommending and julie that would put us all at risk with saying actually when it comes to resource is and if you think about a lot of the resources of the extremely wealthy many of them are embedded in companies so were talking about stocks and shares and what we think is a better idea is to have ownership of those assets much more equally distributed in the way that companies are able to run cooperatives for example so the you have workers with a stake in the business and when the company does well those rewards are distributed evenly among the workers as opposed to concentrated returns for those at the top that are the inside of us like john lewis or that we go to an International Audience they probably wont know that Department Store what about other n. G. O. S save the children is saying a quarter of all children in this country under the age of five are living in poverty is worse in wales a little bit worse in scotland are all the ngos at the moment we are with their boards basically saying the system is failing everyone i think theres increasing recognition that to address the things that we care about most whether its an ngo thats looking at housing or whether its save the children or whether its oxfam looking at poverty in the u. K. Or the. If roundtree foundation who you found that one in eight people that are working a living in poverty theres many of these organizations that are recognizing that to address all these concerns we have to look at where the power is and where the wealth is and so yes i think there is a kind of common discourse that we have to look at inequality if were going to fight for the causes that are really important to us about the danger that. These elites will actually divide those who are already poor from one another theres obviously a somalia attrition in britain legacy arguably the twenty wake raises how because they cant see the c. E. O. s earning that much money is this ninety nine percent going to start dividing itself did you see anything like that in the research where we need to build a new narrative and what we need is a new economic model that works better for people and that doesnt build those kind of divides in society that youre referring to and this is possible and there are way in policies and there are you know Business Models and there are all sorts of things that we can do to actually make it a Fairer Society and thats not pitting one person against another person so that were not this kind of race to the bottom in competition i mean in ecuador the legislation on the minimum wage is now such that it must be a living wage so this is just raising the floor so that everybody resumes as she introduced here of course its not quite a say not a living wage that many people would or the Living Wage Foundation for one would call a living wage. I mean another example is in iceland that is now illegal to discriminate between men and women on pay so this isnt pitting one person against another this is creating an environment where were saying you know things have got to be fair or things have got to be more just and these kind of policies doable with possible and it just creates a much fairer environment for everyone and just very briefly the electoral implications of this report can we see in this report shades of why the midwest of the United States would go for donald trump Something Different why people go to jerry corbin here where people in this country went for broke that why new political ideas are now being tossed around because its getting this desperate i mean the data shows that there are large portions of the population in many countries that are feeling left behind that the economy is not working for them and so theres got to be implications for that in the way people feel about the way. That societies and therefore that governments operating so were not surprised that are all you know groups that are breaking away and looking for something thats it and so what were trying to do is create a narrative that is fair and just and thats not divisive because thats what people that particularly the feeling left behind by the system the mice and you know representation of what would what would then im not something that would divide them. Thank you thats up in the show believe back on saturday just one of your recordings key problem and realize his former shadow emergencies minister Chris Williams and whether the n. H. S. Is being used as a cash cow by a profit hungry go industry until the new getting people to interact with us by social media with a few words out of the forty five years to the day of the signing of the paris peace accords officially signaling the crushing defeat of the United States of america by communist vietnam. All to see we have a great team but we need to strengthen before the freefall world cold and youre better than a legend to keep it so its at the back. In one thousand nine hundred two that must qualify for the european championships at the very last moment no one believed in us but we won and im hoping to bring some of that waving spirit to the r. C. T. Recently ive had a lot of practice so i can guarantee you that Peter Schmeichel will be on the best form since my last will call on the road towards three. Thousand zero zero zero zero you. Brush. My stripes. No left left left more or less ok stop thats really good. Z. Says harlan kentucky. Overall in this move the employee says you can go green street fannys remained in. A coma and he said she was almost no coal mines left. The jobs are gone all the pay rises thats. Live to see these people the survivors of a world disappearing before their eyes. I remember thinking when i was younger that if anything ever happened to the coal mines here and that it would become a ghost town but i never thought in a million years i would see that and its happening its happened. To one of the things we saw this entire Campaign Leading up to trump selection was very little discussion of the facts nobody said look you know you may be the smartest person in the world in your area of treating people in the Real Estate Market but when it comes to actually understand economics you have no background i think any you know a good economist could possibly have won that election had the press paid and that attention to that. Look at the very. Thing. That would be. Really the. Load. Of all. President on vals to expand the turkeys military offensive in syria to the town of monbiot risking a potential confrontation with u. S. Backed forces. Top u. S. Democrats claim russian bots are responsible for a social Media Campaign to release a potentially explosive congressional memo. And the exclusion of many clean russian athletes from the upcoming Winter Olympics it triggers an outcry in the sporting world. For the latest on these stories you can head to argue dot com stay with us now for the kaiser report discussing the impact of u. S. Corporate tax cuts and if youre watching in the u. K. Or ireland a boom bust its next there with us. I am asked guys or this is the kaiser report were in the sun the north american Bitcoin Conference in miami the excitement is palpable electricity in the air startups are starting up. Yes max its a pretty wild ride here very fine its getting bigger and bigger every time we go to a big Bank Conference as more and more people. I do want to know one thing that weve kind of overlooked in the past week of coverage is the fact that the dow jones. Went up one thousand points the fastest in history it had twenty five thousand points and then it hit twenty six thousand points the fastest move the fastest one thousand white moves in the history of u. S. Stock markets as i think thats the best thousand points in the roof since trump became president so i think we see some of that inflation perhaps you might call it hyperinflation that janet yellen and other central bankers were hoping for but you know youve got the wealth effect because youve got stock market bond Market Property market trip the market all hitting guys do all time highs trading trillions of dollars while i walked into the entrance of the hotel here in miami and theres just replete with lamb bones everywhere lamppost rolls royces basra you know the trickle down of different dont come to be the stock market the Property Market is having a boom time. This is a sort of town where you can drive a lamborghini into the hotel lobby its pretty interesting so one of the biggest stock on the stock market of course is apple i think it was the First Trillion Dollar Company right getting very close very close and so they theyve had a good time obviously in the past year as a stop. Markets have bloomed but one thing i want to look at is what has Tax Reform Tax reform has done to their bottom line and what sort of benefit thats going to bring perhaps the u. S. Economy this isnt this headline apple says it will pay thirty eight billion dollars in foreign cash taxes and create twenty thousand u. S. Jobs apple said last week that it would make a one time payment of thirty eight billion dollars to repatriate some of its vast overseas Cash Holdings the company which has faced International Criticism for its tax evasion policies also said it would spend thirty billion dollars in the us over the next five years creating twenty thousand new jobs so this is rolling off of the tax reform weve seen a lot of these sort of announcements that apple is also giving a two thousand five hundred dollars bonus to most of their employees in the United States we saw walmart announced a thousand dollar bonus in Southwest Airlines American Airlines so many corporations have been announced and big bonuses because of the tax cuts a very huge tax down to twenty one percent. Of the likes of apple will go into it only ever paid one percent but well get into that event right yes so this is all about bringing those jobs back to america bringing the cash back to america chumps just finished his first year in office and this is some of the Campaign Promises that he made and hes making good on those promises its really hard to criticize job because hes doing stuff he said he would do this is obviously going to be a huge boon for jobs in the u. S. Going to start manufacturing in the us sound credible would that be if you start seeing i phones and i have some other equipment actually being manufactured not giant in the nation but in the United States i dont know if theyre going to do that or not but theyre clearly bringing a lot of jobs and are going to build a whole new apple campus and then i guess are shopping for a city now where to put that new apple campus of this will be a choice. No the company should have they havent made that specific announcement of what these twenty thousand dollars will be and could all be at apple stores for all we are now selling more products. In terms of their tax so apparently theyre paying a fifteen percent tax on repatriated profits it looks like theyre going to repatriate if you look at thirty eight billion thats pretty much fifteen percent of the two hundred forty six billion they have held overseas so it looks like theyre bringing it all back by that those numbers the article goes on to say that in june trump told the wall street journal that apples chief executive officer tim cook had promised to build three big big big plants and the you asked as part of a discussion about tax reform the company is the latest to announce a one off payment as a result of recent changes to u. S. Tax law which allows companies to pay a levy a fifteen point five percent and overseas Cash Holdings that are repatriated to the u. S. You know i remember the reagan years the trickle down economics that was introduced and there wasnt really a lot of trickle down but here this is actually trickling down in real time jump announce a tax cut and build twenty thousand jobs from the Biggest Company in the world relocated to the u. S. Are created in the u. S. Thats genuine job boom tied to a tax policy and again this guy was a novice coming into office a year ago i said you know what in the ball studio does all the professional politicians suck you know soup this guy can do so far looks good. You know one thing i want to say is that since the financial crisis and then president obama came in a lot of people with the occupy wall street stories were like you know big bankers got bailed out and then they were collecting all these big bonuses they are the ones that actually are getting hit hard because of the new tax reform because they had massive losses in the two thousand and eight two thousand and nine financial crisis and theyve been writing those. So some of these guys i think like citi group just a bounce that twenty two billion dollars that theyre going to have to pay on their profits this year because of this new tax reform is that they were counting out writing off all their big losses during their scams on the last. Crisis so now theyre going to be hit hard so hes actually hitting them hard unlike what weve seen in previous administrations yes it makes perfect sense you know the touch loss carryforwards are going to be you know ended so theyve got a real genuine bottom line event happening to them and theyre being penalized for making bad bets and lead to depression two thousand and eight barack obama applied zero zero accountability after the two thousand and eight crisis about five just a shower Democrat Money and said oh pledge try to do better next time guys again trump says the policy is actually inflicting a little pain to our belong to the banks so back to apple you know the panama paper is had showed that apple had set up a complex web of offshore companies to basically pay less than one percent tax rate. Regarding the article mentions that in twenty thirty in the Senate Committee accused apple of using a highly questionable web of offshore vehicles to avoid paying taxes on the u. S. Senator john mccain said his constituents were quote mad as hell to learn that the worlds Biggest Company was paying tax rates that were sometimes lower than one percent ive never seen any thing like this thats across the board all Big Industrial companies all big doubt Companies Just people their tax rates member General Electric reported on this couple years ago in a seventy thousand page tax return and at the end of the process the internet with a tax credit they got money back from the government so any kind of tax reform like this that levels the Playing Field is going to be a boon to industry. And. Long overdue i would imagine theyll be another tax reform bill next year just simplified bring in a flat tax before you know low over and done with top will bring in a fifteen percent tax rate across the board which would be the best possible solution to the tax you know question in the us yeah so i mean i think obviously taxes have gone down in corporations we already have a low tax on Capital Gains so capital is very low tax across the world labor is still taxed very highly i saw somebody talking about this on twitter this morning about these tax rates and it is interesting to note that right now labor is so cheap tax Interest Rates capital is so low so there there should be some sort of mechanism whereby you know we should make leverage cheaper we dont need to make capital any theres already so much of it thats why stock markets keep on going up a thousand points and twelve days so we dont need any cheaper wed like a lower burden on capital at this point we need a bit of a lower burden on labor because labor you know that the top tax rate is still in that well into the thirty percent look for seven years weve been preaching to labor that think Solutions Offered by government are insufficient you must accumulate currency we started preaching this one point was three all market was less than fifty million its now five hundred million six hundred billion got to eight hundred million the way to fight against a low farge of government if you want to build capital is via crypto weve been saying this for six years six years and weve been absolutely right and i mean people here at the miami north american miami big point conference you can walk up and say thank you for kaiser reported twenty thirteen twenty seven twenty twelve youve made me an industry youve made me millions of dollars im fighting against the
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