Need to leave. Any comments on that. Steve, do you want to start . Sure, i can address that. I do not think shifting to a territorial system is right. The two problems that weve highlighted here are earning stripping and the deferred accumulated earnings of these controlled foreign corporations. If we shift to a territorial system in which a u. S. Company is only taxed on its u. S. Source income, and not taxed on its foreign income, there will be all the more incentive for multinationals to strip income from the u. S. Base and shift it abroad. Isnt that the first step and then you deal with all those issues let me finish my answer. So as part of any consideration of territorial, we need to address the earnings stripping issues that were discussing here. One of the observations professor shay made in his article, he wanted treasury to adopt regulations that could fold into tax reform and weve got to address earning stripping and we have to do it sensibly and i think we could fold that i
Tax rate of those companies to be reduced. And thats why were talking about this subject. So it appears that having a bow tie is not an indication of prof sor yal stature but tax planning. John, you started us off by talking about the fact that your view, this set of practices were a symptom of a larger set of drivers in the Corporate Tax structure and that ultimately and i think you wouldnt get any disagreement with anyone here we need to be addressing those larger drivers. But in the context of the current debate, first of all, can i ask you to ask would the measures that steve and steve have put on the table be effective and then we can go beyond that to say should treasury take it. Lets start with the effective. So the answer is i dont think so. But theres an overarching point before i get back into the weeds which is why are we trying to raise the bar so it will be harder for companies to leave the United States. Why arent we trying to do something to make it more attractive for t
Questions, british Prime Minister David Cameron condemned the murder of a journalist and told members that the u. K. Would never give in to terrorism. On monday, he announced new the passportsize of citizens accused of terrorism. He answered questions on the scotland independence vote scheduled for september 18. Prime ministers questions tonight on cspan. Vice President Joe Biden gave the weekly address in place of president obama who return from the nato summit. He outlined the efforts in reviving the economy and for raising the minimumwage. U. S. Senate candidate Dennis Dan Sullivan theyve the republican address and talked about smaller federal government and energy policy. Ladies and gentlemen, this is joe biden, im filling in for president obama, while he addresses the nato summit in wales. When the president and i took office in january of 2009, this nation was in the midst of the greatest economic crisis since the great depression. Our economy had plummeted at a rate of 8 in a si
We should be given a medal, not prosecuting him. And cnn takes you to the most unequal place in america. This place, where there is no middle class. Hi, there. Im brooke baldwin. Great to be with you, but not a great day if you are Kathleen Sebelius. The health and Human Services secretary grilled today over obama care and the bungled launch of the Website Health r care. Gov. Fighting for her own life, tells the House Committee today shes sorry. I am as frustrated and angry as anyone with the flawed launch of health care. Gov, so let me say directly to these americans, you deserve better. I apologize. The obama care website was only part of the three and a half hour grilling. Secretary sebelius got from the house energy and commerce committee. Other hot buttons today the cost, president obamas pledge, if you like your insurance, you can teep it, your privacy, abortion, enrollment numbers. We also heard references to red herrings, red solo cups, pinocchio, and the wizard of odds. Throug
Blanca. My god theres gambling going on here. Its the same kind of thing. Plus a grisly discovery at two Water Treatment plants. They discovered a human torso. And motive for murder . Mcneals mistress speaks. I believe he said that he had sent them a message that that was the case. That you guys were getting married . Something like that. Lets go outfront. Good evening, everyone. Im erin burnett. Outfront tonight coming out swinging. Finally someone in the Administration Defense nsa spying. Their defense was clear, and aggressive. Do you believe that the allies have conducted or at any time any type of espionage activity against the United States of america our Intelligence Services our leaders or otherwise . Absolutely. There has not been a mass casualty here in the u. S. Since 2001. Thats not by luck. They continue to try. It is the great members in the intelligence community, our military, our Law Enforcement that have stood up and said, this is our job. Defending themselves with pa