that rain is really coming down. as far as the east coast, new york city, we had a beautiful weekend. and more of that is in store for us today. we re talking very mild temperatures. right now we re in the 40 s in new york city. 43 right now in chicago. it is actually cooler in dallas, 37 degrees right now, than it is in new york city. kind of odd. high temperatures today in new york, 60 degrees. 59 for your high temperature in dallas. over in minneapolis, 32 degrees for your high temperature. we have that storm producing areas of rain right now in louisiana, mississippi, alabama. heavy rain in the city of nashville across tennessee. eventually that storm does head east. we ll be bringing in areas of rain for the east coast as we head into tomorrow. watch out for delays if you re doing traveling, anywhere you have areas of rain, on the back end of it, snow across sections of iowa, minnesota and also wisconsin. gretchen: thanks very much for the update. steve: a $166
billion the amount of money 60 u.s. companies parked overseas last year. not in the united states. overseas according to the wall street journal and their analysis. why are big companies focusing on their foreign subsidiaries? stuart varney says the answer is washington, d.c. that is the easy answer and that is correct. can we get used to the idea that taxes, tax rates, taxation drive economic activity? and that high tax rates in the united states drive the economic activity of american companies and american individuals? you just mentioned that. the wall street journal has got a study of 60 big american companies. they have parked $166 billion over there, outside the united states. why are they doing that? if they brought it back to america, they would have to pay a 35% tax rate on that money coming back here. that is the highest tax rate in the industrialized democratic world. and they re not going to pay it. so they are parking it over there quite deliberately to
issues, about tax and about job creation and about outsourcing. what would david einhorn want apple, as an investor, to spend some of that cash on? he want it is to go back to shareholders. he would like bigger dividend payments, he would like a certain kind of class of stock that would allow investors like him to get some of that money back. he is not really arguing for them to bring that back and create a bunch of fact police in the u.s. and create jobs. 6 it s sort of ironic the company is under pressure to go back to dividend payments. not sure that will help u.s. growth and a number of people, warn buffet, said apple can run this company better than david einhorn and do whatever they want with that money. sticking with warren. according to the wall street journal, 60 major u.s. companies park the combined $166 billion in profit in offshore counties, in effect, shielding more than 40% of their annual earnings from being taxed by the
at that time a look at the morning papers. according to the the wall street journal 60 major u.s. companies part to combine 166 billion dollars in profit in offshore accounts shielding more than 40% of their annual earnings from being taxed by the united states. u.s. law allows companies to not record or pay taxes on profits earned by subsidiaries load internationally so long as the money is not brought back to the u.s. makes sense, right? okay. we don t need to ask for reform. usa today the amount of homes for sales have dropped dramatically and driving up home prices in the rented weeks. homes in los angeles have dropped 46% and minneapolis 37% and atlanta and las vegas two extremely troubled markets, down 32%. as prices go higher, analysts say the incentive increases for home builders to start building
year which is the path we are on which takes us away from ever balancing the budget which produces a debt crisis. that is the problem. the president has us on a path toward a debt crisis that hurts everybody. that brings us to a recession. gives us a european kind of experience we want to avoid. we want people going back to work. higher wages. more jobs. a growing economy. we get that by balancing the budget. chris: there are two sides to the argument. the president would say the spending cuts and sequester and cuts that you going to propose in the short-term could actually hurt this kind of slightly improving recovery and throw us back into a recession. let me ask you about a couple of the specific cuts you made last year and tell me if they are not in the new budget. i assume that they are. you cut medicaid by $770 billion over the next ten years. cut 134 billion florida food stamps. $166 billion from education, training and social services. democrats say that that makes