In the 1940s and putting together the concept of income we now use today under the income tax they were neglecting the adverse effect on the labor force and it wasnt unknown. The godfather of the income tax henry simons and one of the two leading godfathers admitted that it would damage the economy and his current disciples dont want you to remember that or theyve forgotten it. Heres what simons said about Income Taxation. Income taxation is broadly an instrument of economic control. A means of mitigating economic inequality which well assume that moderation of inequality is an important objective of approximately see and perceived income tax is devices for effecting it. The case for drastic progression in taxation must be rested on the case of inequality on the ethical or aesthetic judgment that the prevailing distribution of wealth and income reveals a degree and or kind of inequality which is distinctly evil or unlovely. Not particularly scientific. In fact, it is reasonable to expe
In his heart. And enter barack obama who questions his seriousness. Take a look at this. 18 months im turning over the keys. I want to make sure im turning over the keys to somebody who is serious about the Serious Problems that the country faces and the world faces. All right. Well, obviously president obama doesnt feel that trond dump is serious on these and issues my feel here as weve said many times is not debate the messenger or what you think of him but the meng because that my friends is resonating with the Republican Base that finds the established candidate will appear off base or boring. Now, that doesnt mean that this holds forever. But what it does mean is donald trump is not a flavor of the month or flavor of the week that he could have some considerable staying power thats not being appreciated by the Mainstream Media and dismissed by his rivals in the republican party. And these polls are true that one donald trump has to be taken seriously but they do not take him serio
John thank you. The phrase, the American Dream came from a book written in the midst of the depression. The author wrote america is that dream of a land in which life should be better and richer and fuller for everyone. And for many people the dream has come true, now im told somethings wrong. The dream is no longer accessible, this summer a poll asked people is the American Dream suffering or alive and well . And 75 said suffering. Is that true . I mean, what do you think, audience . How many of you think the American Dream is still as achievable pretty much as it was before. [ applause ] how many of you feel not so much . Its changed. [ applause ] pretty pessimistic. One man who people say has lived the American Dream and created it for many others is the man whos been called the most powerful man in las vegas, and thats steve wynn, the founder of wynn resorts. [ applause ]. John they like you in this town. Lets take a poll. [ laughter ] so you have made your youre a selfmade multibi
[cheers and applause] john the phrase American Dream came with a book written in the midst of the depression america is that dream of a land where life should be better and richer and fuller for everyone and for many people the dream has come true but now ayatollah something is wrong. It is no longer accessible is it suffering or alive and well . 75 percent said suffering. Is that true . How many of you think is as achievable as it was before . [cheers and applause] how many of you feel not so much . [applause] pray pessimistic. What a man who people say has lived the dream to creative for medical dash many others is called the most powerful man and lost a is. Steve when steve steve wynn. They like you. [laughter] you are selfmade multi billionaire and how did you do that . I am told the town was seedy but you built hotels that were more appealing but i would think a lot of people had that idea. Ideas are easy but doing it is difficult. John what was difficult . I am not a billionaire.
Long and nobodys ever seen this much water. Historic, after what happened, but it happened in texas and texas can handle anything. Trade to residents in the houston area but they welcomed flight. The sun finally rising go viral. Harvey continues to have an impact on the energy area. Reuters reporting the largest refinery in the United States shutting down due to the storm. This disruption could have a major toll on gasoline prices as they head to the holiday weekend. Right now one fifth of all u. S. Refining capacity is shut down and gasoline prices already a. Gasoline prices of 20 cents a gallon continued to rise. Features in the stock market are showing gains across the board on the dow futures after a nice reversal of the market yesterday. Blue chip of about 57 points in trading tuesday. The psyche of reading a secondquarter domestic product, our biggest reading on the economy divided it to the event eastern time could expect them to. 7 growth. Investors eyeing President Trump on ta