in reverse label. there is another problem. and the one thing that is different from last year, aside from the spending and cuts that we were just talking about, is that now the top tax rate is higher than it used to be for the richest americans. it used to be 35%. now it is 40. this is a bigger. at a cut. i think the thing people should realize is that representative ryan does not specify one loophole closure. one offset. he has never done so. you could worry that it would raise the budget deficit by taking in less revenue and not telling us how you pay for it. and i misworded it. it said while holding social security a political sacred cow. i don t know what i was thinking when i said otherwise. but let me bring you back in this. they stay democrats cannot wait to hang copies of ryan s budget around the necks of republican candidates on the campaign trail. what are the ramifications?
that they won t close one special interest tax break, not one, for the purpose of reducing the deficit. and we think we should opening and closing some of the loopholes, saying if you lower the tax rate? every dollar from a loophole closure goes into providing tax breaks somewhere else, which is very different than what the the bipartisan commissions call for. simpson boles had tax reform did lower the rate bus it also generated lots of additional revenue lower the deficit. so, that s the approach we take. we want to close these tax breaks to help reduce the deficit, in combination with additional targeted cuts. when does the real work start? everybody unrail vail their budget proposal, pass their frameworks, then what happens? then your going to have a house republican budget and a democratic budget and then is when you start to try to bridge those differences. whether that takes does that start in your conference committee first?
lowering the rate on taxes and lots of people complain that our statutory corporate rate is lot higher than other countries. our effective rate, what corporations actually pay is quite low. and that means there is a bunch of loopholes. and to the white house s credit, in their white paper that. specify a bunch of loophole closures. the problem is my loophole closure is your beloved investment program. we ll have to see how that plays out. i gave that white paper a lot of attention a few years ago. jared bernstein. you are exceptional. thank you very much for being here. thank you, ezra. in the brave new world of legalized marijuana, how can the punishment fit the crime, when in some states smoking pot is no longer a crime? we get into that one next. [ male announcer
threatening to have to raise our interest rates through the roof in order to service our debt, which means absolutely a long-term recession. it s really quite a fatal step. the wall street journal s reporting that the white house is willing to do corporate tax reform in their new proposal. what do you think than in what do you think that might mean? i think it s a neat idea. the white house is actually articulated a fairly detailed corporate tax idea in a white paper that didn t get enough attention a few years ago. and it s very much in the spirit of things that tax reformers, including republicans, like. lowering the rate on taxes and lots of people complain that our statutory corporate rate is lot higher than other countries. our effective rate, what corporations actually pay is quite low. and that means there is a bunch of loopholes. and to the white house s credit, in their white paper that. specify a bunch of loophole closures. the problem is my loophole closure is your b
statutory corporate rate is lot higher than other countries. our effective rate, what corporations actually pay is quite low. and that means there is a bunch of loopholes. and to the white house s credit, in their white paper that. specify a bunch of loophole closures. the problem is my loophole closure is your beloved investment program. we ll have to see how that plays out. i gave that white paper a lot of attention a few years ago. jared bernstein. you are exceptional. thank you very much for being here. thank you, ezra. in the brave new world of legalized marijuana, how can the punishment fit the crime, when in some states smoking pot is no longer a crime? we get into that one next. essin. it s part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment s right. you can be more confident in your ability to be ready. and the same cialis is the only