Its my pleasure to announce the next speaker. Introduce the next speaker. He is the president of the American Action forum. Hes been a guest many times tamt Tax Policy Center and were always happy to hear him and hear the wisdom hes going to im part to us though he claims hes not. Doug has held many hats. Been an academic at syracuse university. He was director of Congressional Budget Office between 2003 and 2005 and worked on the president s council of economic advisors and early Bush Administration and he was director of the economic chief economist for john mccains president ial campaign in 2008. So he will hear maybe a different perspective from doug, but any way im sure you want to hear what the destination based cash flow tax is all and. Ill turn it other to dug. It is always a pleasure to come to the Tax Policy Center and i appreciate the chance to talk about this. Im at a little bit of a disadvantage because i didnt get a chance to hear everything that preceded me so im probabl
Places. From 2003 to 2005, before that, worked on the president s council in the early bush administration. He was director of the chief economists for john mccains president ial campaign in 2008. Maybe we will hear a different perspective, i am sure you will hear once more destinationbased cash flow tax is all about. Or anything else he wants to talk about. [applause] it is always a pleasure. I appreciate the chance to talk about this. Time at a disadvantage. I am going to repeat things you heard. I want to talk about the prospects for tax reform, there is a definite consensus, Us Corporation income tax of chains, status quo is untenable for the foreseeable future, we need to have tax reform, in an unusual situation in 2017. One thing to think about is to get that done. We have relatively limited data on tax reform, looking at empirical evidence and what it takes to get it done, we dont do this very often. If you think back to 1986 reform, it really began in the mid1970s with people l
Been a guest many times at the Tax Policy Center and were always happy to doug has held many hats. He was director of the Congressional Budget Office between 2003 and 2005 and before that worked on the president s Council Economic advisors in early Bush Administration and director of the chief economist for john mccains president ial campaign in 2008. So we will hear maybe a different perspective from doug, but any way im sure you want to hear once more what the destination base flow tax is all about or anything else he wants to talk about. [ applause ] so it is always a pleasure to come to the tax policy sent around i appreciate the chance to talk about this. Im at a little bit of a disadvantage base didnt get a chance to hear everything that preceded me so im probably going to repeat things and i apologize in advance. But i wanted to talk broadly about the prospects for tax reform beginning with echoing what pam said, theres a consensus that it has to change, we need to have tax refo
Few moments. The dnc kicks off amid country controversy over leaked emails. The ceo will join us in the next hour first up verizon announcing the deal to acquire yahoo s core business for 4. 8 billion in cash. Verizon plans to combine the internet asset with aol. The Real Estate Holdings in that action. Marissa mayer will join us in a few moments once that Conference Call ends. Wow. This day has been a long time coming, jim. Yeah. And i think that the i remember speaking to Lowell Mcadam many months ago when he said this could happen and a clear vision if you gave it to Tim Armstrong they could make something of it. Im excited. Maybe it will be back like the old days in 98 and 99 when yahoo was the leader or not you mentioned mcadam in february, a reminder of what lowell told jim on mad money. Take a listen. We said we would look at it. I think their board has been very responsible how theyre doing this, very deliberately, very logically and we have to understand the trends that were s
First of all i think the inversion critique is an odd one. I hate it. Its terrible. Its just a terrible precedent. Its really awful. Its going to do all these distortions and then its not going to do anything. I dont think its going to do as much as i like it to do, as much as, say, lebanon or schumer or some proposed legislation which is right with you tax partly. Or i should say the optimal way. The absence of a functional political system of congress can get around those obstructionists and work together, i think administration has a very important responsibility to try to protect the tax base and will be negligent if they decide not to. Which brings me to another disagreement, territoriality is somehow the long way to go. I would point out to listeners of this discussion, a very Important Initiative thats being undertaken by countries called beps, continually trying to adjust to avoid the very kinds of these erosions, base Erosion Profit shifting. This country to country to how an