World, he is a leader in our profession in numerous honors and awards, the editor of not just one, but of two top journalists in economics. On top of that, ive been the great beneficiary, coauthor with alan on many occasions. Today, hes going to talk about the destinationbased cash flow tax, a proposal for which hes done much of the heavy lifting and main proponent and we can all benefit from his explanation of how it works, why it is a good idea, and what some of the issues are and how they can be addressed. So alan, ill turn it over to you. Thank you. [ applause ] thank you, bill. So will my slides come up . There we go. Thank you. Well, i told bill i shouldnt need more than two or three minutes to explain the destinationbased cash flow tax. Everybody in washington and elsewhere in the country already understands it so well. I would like to start with a stroll down memory lane or for many of you just sort of something that happened before you were born. Just a notion of where this is
Go the backup is starting to formal. Drive times coming up in a few minutes. In santa cruz mountains, highway nine has reopened after a car went off a cliff west of saratoga, and killing a 19 year old woman. The driver is still missing and c. H. P. Officers believe the 29 career old ran from the scene. Crews thought he may have been injured and combed the rugged hill decide try and find him. A 15yearold girl is seriously hurt and taken to the hospital. Officers say there are no skid marks indicating that the driver never tried to stop. Also break overnight a commercial jet crash lands in dubai with several americans on board. Jessica is following the latest developments. It looks bad but everyone is okay including the since men passengers on board. Right now, the update is dubai airport is still at a stand still. One of the business of the airports in the world. In a video from the scene you can see what appears to be an explosion and all 282 passengers and 18 crew members got out of m
Gain for the close. Julie a could be a gain for the month of september. We will not know until the close. All three major averages are at the height of the session. What is contributing the most we are seeing the financials strong eddies of are the stocks that are singlehandedly contributing the most to the gains. Bank of america, citigroup, represent in the financials, coming back after losses yesterday. Pfizer as well. We saw broad weakness in the pharmaceutical industry yesterday. Amazon another record for amazon. It has been day after day for that company. We have also been watching outside of stocks, what has been going on in the bond market, currency market as well. Note, look at the 10year the moving we have seen in the 10year there, too, we have had some reversals going backandforth this week. I think we are having some technical difficulty on that front. There, too, we have seen a turnaround. There you have it. Point 1. 59 ,s reversing the declines we have seen in recent days.
Milkily disclose earnings and tax bills in europe packaged blgeurope. And bangladesh coveru. And ill be here with all the days sport including the Denver Broncos are crowned super bowl champions. Hello, we begin in syria where new refugee camps are being built to house the thousands of people who fled fighting around aleppo, where government and Opposition Forces are locked in a battle for control. Turkeys Prime Minister says refugees will be allowed to cross, quote, when necessary. At talks in ankara, he and the syrian Prime Minister agreed, not just appalled but horrified at the suffering coughe caused s air strikes. Boats sank when trying to cross from syria to greece. The german chancellor came here with a clear message for turkey, stem the refugee flow into europe but turkey isnt expected to do it alone. Translator if illegal means are reduced or stopped, we have to find legal means to reduce burdensharing. How it will be done remains up clear. In a joint press conference with cha
In central japan is continuing procedures to stop a reactor after a core injunction ordered the shutdown. Japan is about to mark the fifth anniversary of the Fukushima Daiichi nuclear accident. Well look back at what happened that day and the struggle to recover from one of the worst Nuclear Accidents in history. North korean leaders are lashing out over south korea sanctions. They fired what are believed to have been two scud missiles toward the sea of japan. And they say theyll seize all south korean assets on their soil. Seouls sanctions include a ban on foreign ships that have visited the north. Officials in pyongyang say theyll tear up all deals with the south. They say theyll litigationed by date all south korean assets north of the border. Some of those assets lie at the kaisong Industrial Complex which the two koreas used to run together. Seoul suspended operations last month. South korean businesses pulled out. The north then said it boo close the complex down. Other south kor