Back. Good wednesday morning. Thanks very much for joining us i hope you are having a good wednesday morning, wednesday, march 6, kilometer a. M. On the east coast hot topic of the hour breaking. I think hes having a midlife crisis im not. You got us tmobile Home Internet lite. After a week of streaming they knocked us down. To dial up speeds. Like from the 90s. News nikki haley is set to great times. All i can do say is that my life is pre i like watching the puddles gather rain. Hey, your mom and i procreated to that song. Oh, ew i think youve said enough. Why dont we just switch to xfinity like everyone else . Then you would know what year it was. I know what year it is. They call it super tuesday for a reason. Exit the president ial race this morning, she will deliver this is a big one [cheers and remarks in two hours time from applause] and they tell me the pundits otherwise there has never been one like this there now, 10 a. M. Eastern Charleston South Carolina stay has never bee
Your apples are ripe. It is time to harvest them. What is the best way to harvest those apples . Do you pick them from the tree or do you chop down the tree . Apples are income. The trees are capital. The reason we want a socalled, consumptionbased tax because we dont want to mistreat capital. But to understand why it is so foolish, dont think about marxism, socialism, free market theories think about it this way, if you chop down the tree or more accurately what the current tax system does if you harvest apples by sawing off branches of the tree, what does that do for your longrun prosperity, your longrun income . You obviously will have fewer apples next year. It doesnt make sense to quadruple and triple tax capital. On this issue marxists and socialists are right they agree with sensible economist. You need capital for long run growth. We should have a tax system treats all income equally. No longer tax income saved and invested. You want neutrality in getting rid of all the loophol
[inaudible conversations] [background sounds] [background sounds] [background sounds] [background sounds] [background sounds] testing microphone. [background sounds] [background sounds] [background sounds] [background sounds] [background sounds] [background sounds] [background sounds] [background sounds] [background sounds] [background sounds] today the first and oldest committee on congress, the ways and Means Committee begins consideration to tax cuts and jobs act. Historic legislation to bring lasting tax relief to workers families and to our job creators throughout this nation. Before bin we begin, we all recognize terrible tragedy, the shooting at the First Baptist church in Sutherland Springs texas. All our hearts are heavy. Our prayers go out to the families and the loved ones, 26 victims as well as the ten texans fighting for their lives as we convene today. Our prayers are with you. It has been or than three decades since americas tax code was reformed under president ronaldhr
Test of the microphone. Today, the first and oldest committee in congress, the committee on ways and means, begins consideration of the tax cuts and jobs act. Historic legislation to bring lasting tax relief to workers, to families, and to our job creators throughout this nation. Before we begin, we all recognize the terrible tragedy, the shooting at First Baptist church in sutherland springs, texas. All our hearts are heavy. Our prayers go out to the families and the loved ones, the t 26 victims as well as the ten texans fighting for their lives as we convene today. Our prayers are with you. It has been more than three decades since americas tax code was reformed under president Ronald Reagan. It was the most sweeping overhaul in american history. Today, we face a monumental challenge of our own, coming together to fix a tax code that has become just as broken, complex, and unfair as the one Ronald Reagan and congress overhauled in 1986. Our journey to a tax code built for the growth
As you look at the analysis. Our Macro Economic analysis, among the things is tries to assess is what happens to the incentives to invest both here and abroad. So the short answer would be yes. It seems to me that as this bill moves forward and that as we realize faster Economic Growth, it doesnt matter if youre a young person that maybe, you know, for the first time is going to see a lower standard of living in todays world compared to what their parents have. They have to have a growing competitive economy if theyre going to be successful to pay off Student Loans, where they can compete and have ample job opportunity. Or if youre a senior or baby boomer about to retire, youre an individual that wants to make sure your savings is protected as you get ready for retirement and have a competitive degreeing economy as well to making sure that our other government safety net programs are going to be strong and healthy and without a competitive growing economy we will not see those impacts.