willing to cede the future of electric vehicles to china. he said if americans made electric vehicles it would drive down wage said and spell the end of american auto. well, like almost everything else he s said, he s wrong. you have proved him wrong. that s president joe biden stepping up his attacks on donald trump while meeting yesterday with united auto workers. we ll have more of biden s comments and his criticism of his predecessor straight ahead. meanwhile, donald trump is essentially confirming reports that he plans to get revenge on his critics if he wins a second term. we ll play for you that disturbing new interview. and plus, a major development out of the middle east. israel is agreeing to daily humanitarian pauses in gaza. we ll get insight on how that could work and the overall impact on the war with hamas. good morning, and welcome to way too early on this friday, november 10th. we made it to friday, everyone. i m jonathan lemire. thanks for starting
department as a personal police force to pursue his critics and political enemies. here s what he said about it in an interview with uni vision last night. i could certainly happen in reverse. it could certainly happen in reverse. what they ve done is they ve released the genie out of the box, you understand that, they ve done something that nobody thought would happen. if i happen to be president and i see somebody who s doing well and beating me very badly i say, go down and indict them, mostly that would be, you know, they would be out of business, they d be out. they d be out of the election. it s all out loud now. so out loud that in a statement, a spokesperson for the trump campaign sought to walk it back and clarify trump s remarks saying the ex-president was simply highlighting the dangerous example president joe biden is setting which only makes sense if you say his conspiracy theory that the work of joe biden and not the end result of years of investigation
president refuse to sign that? let me say, again, the core principles of this, we ve been meeting with the house and senate, and they agree 100%. the core businesses make business rates competitive, bring back trillions of dollars to create jobs, simplify personal taxes, create a middle income tax cut. so those core principles are non-negotiable, and that s something that we all feel strongly about. as it relates to will it pay for itself, again, i think, as i ve said, we re working on lots of details as to this. we have over 100 people in the treasury that have been working on tax and scoring lots of different scenarios. this will pay for itself with growth and with reduced reduction of different deductions and closing loopholes. mr. secretary, if it turns out the congressional estimates won t be paid for, is the president comfortable with that?
corporate tax. we have the largest corporate tax in the entire world at 38%. many of our companies invest overseas because of the profits they make over there. they get taxed at that country s corporate tax, not at america s. so lowering that corporate tax will stimulate jobs, making the individual tax forms easier, simpler, fairer, lowering the brackets of which people fall into, because their income. the theory is it will put more money into american s pockets. and allowing corporate look at how excited the markets have been since some of these proposals have been leaked out to the white house. the market is going through the roof. that shows confidence that the economy is going to get better and grow with these proposals that the president is putting forth and speaker ryan. even with the rosiest economic projections, you cut corporate tax rates, even if you cut them to 15%, which most folks don t suspect that will happen ultimately, 5%, 6% gdp
practical impact for some of this? so that s a couple of things. one is that it s not got anything that it less it relies on if you lower these taxes to 15%, it will generate activity that will create jobs. that remains to be seen. we have a long-term, relatively slow-growth situation in the united states. the way i describe it is that the united states is like a grown person. we re a mature economy, so you don t get growth spurts the way you do if you goose a young economy. india can do certain things, china can do certain things. america would have to do a lot to goose the economy. but i will say one thing, talking about lowering the corporate tax rate to 15%. 35% isn t what we pay. it s really about 27%, which puts us fully in line with all developed nations.