But i think that the idea now is that we have to hit back hard, we have to hit back strong if were going to finally put this dual crisis of the pandemic and the economic pain that is engendered behind us. With respect to larrys point, one thing is just wrong, which is that our team is dismissive of inflationary risks. Weve constantly argued that the risks of doing too little are far greater than the risk of going big. Providing families and businesses with the relief they need to finally put this virus behind us. Second, i want to quote fed chair Jerome Powell who strongly reiterated this view the other day, i think it was just a week or so ago, that inflationary risks are also asymmetric right now. Im much more afraid of people losing their careers and life that they built because they dont get back to work in time. Im more concerned about what that will do not just to their lives but to the American Economy. Im more concerned about that than which exists with higher inflation. In our
I think it was an effective measure. The idea now is we have to hit back hard. We have to hit back strong if were going to finally put this dual crisis of the pandemic and economic payment engendered behind us. With respect to larrys point, one thing is just wrong which is our team is dismissive of inflationary risks. We have constantly argued the risks of doing too little are far greater than the risk of going big. Providing families and businesses with the relief they need to put this virus behind us. I want to quote Jerome Powell who strongly reiterated this view the other day. I think it was a week or so ago that inflationary risks are also asymmetric. He said, im much more worry about falling short of a complete recovery and losing peoples careers and lives they built because they dont get back to work in time. Im more concerned about the damage that will do, not just to their lives but to the United States economy, to the productive capacity of the economy. Im more concerned abou
Whether the president can end the Obama Era Program that spares an estimated seven hundred thousand immigrants from the threat of deportation the Trip Administration argues that the creation of the Program Deferred action for childhood arrivals otherwise notice doc up was an unconstitutional use of president ial of forty two previous rulings imposed injunctions on the Trumps Administration actions to end dhaka and the Justice Department asked the Supreme Court for a rare action to bypass the appeals process the Supreme Court wanted nothing to do with it and rejected the administrations request this puts the dhaka dreamers in a place where they will not face deportation as previously thought on march fifth. U. S. Ship or United Parcel service or u. P. S. Is suing European Union regulators for one point seven billion euros over two point one billion dollars over the. Denial of a merger with dutch Delivery Company in two thousand and thirteen u. P. S. Abandon its seven billion dollar bid
For the u. S. Economy has improved since december though powell said he would not want to prejudge the question of further Interest Rate increases most of the servers read his bullish comments as a signal that there will be perhaps three as many as four federal funds rate increases this year up from three discussed at the feds the f o emcees meeting at the end of twenty seventeen powell was on worried about recent turmoil and stock markets saying any risks to the broader economy were quote at most modest he did however note that Cyber Security is a major threat to economic stability more on that in the coming days. The Supreme Court has rejected the trumpet ministrations request for an immediate hearing on whether the president can end the Obama Era Program that spares an estimated seven hundred thousand immigrants from the threat of deportation the Trip Administration argues that the creation of the program. Deferred action for childhood arrivals otherwise notice doc up was an unconst
So whats the first thing we do . We tax it. We call it earned income. While another category of income called unearned gets a preferential rate. This is a discussion we need to have. Second point, simplification. A few years back we had a Tax Reform Act here, a number of, it was controversial a number of us voted for it, it passed. Before doing that, i decided to run up the road and see someone who lives near where i do, his name is warren buffett. Warren buffett and i have different philosophical approaches on many things, but he was generous to welcome me to his office, we spept about an hour together, and i wanted to get his look at that tax bill and some other things. In an interesting exchange, he turned around to his credenza, pulled out a file, an old file, pulled out a single piece of paper, and said, jeff, do this. Lets do this. Put the tax code on a piece of paper. Simplification. Now, a tax coat in reality cannot always be cut. It has to be optimized. We have to run the gove