Billion. The dear lords in the interest markets have been very, very kind to us. But when you actually look at the curve, so much of the spending once again is what we call mandatory, but if you actually look at the well call it the rust over there something most people dont understand and im going to reach over and point to what is the individual income tax ortion. Most people dont understand the individual income tax is the majority of the income to this country, its not intended for one of the trust funds. If you actually look at the , its been come tax going up but its still a fairly small sliver. Now why did that change . So often you get people who will bring me charts and say, david, 25, 30 years ago the corporations paid so much more. Well, also 25, 30 years ago there was this new concept of passthroughs. L. L. C. s. Partnerships. So what happened is many things that used to be corporations in the 1950s, 1960s, 1970s, up through the 1980s, at the end of the 1980s there was a re
Billion. The dear lords in the interest markets have been very, very kind to us. But when you actually look at the curve, so much of the spending once again is what we call mandatory, but if you actually look at the well call it the rust over there something most people dont understand and im going to reach over and point to what is the individual income tax ortion. Most people dont understand the individual income tax is the majority of the income to this country, its not intended for one of the trust funds. If you actually look at the , its been come tax going up but its still a fairly small sliver. Now why did that change . So often you get people who will bring me charts and say, david, 25, 30 years ago the corporations paid so much more. Well, also 25, 30 years ago there was this new concept of passthroughs. L. L. C. s. Partnerships. So what happened is many things that used to be corporations in the 1950s, 1960s, 1970s, up through the 1980s, at the end of the 1980s there was a re
Focusing on the Congressional Budget Office report that has a big focus this week, the big numbers this week. BeMillion People would without insurance from the senate plan. That is what the Congressional Budget Office projects. Explain how they, up with that number and what it means in the 10 years the cbo report covers. Guest they have a collocated and sophisticated peter model. Sophisticated computer model. They will offset the gains and losses, they ended up with 15 million you are people would e medicaid after 10 years 50 million fewer people would have medicaid after 10 years. There would be a lot of constraints on medicaid from the federal government. It would be capped for the first time. States would get less money. There would be fewer people. Help would go further down the income scale. The insurance they could buy would be less generous. People would not find it valuable to spend money for insurance that they would not be able to use because their deductibles and outofpocket
All three hours of our program today will be devoted to getting your reaction to the speech, including democratic reaction to it. Democrats, 2027488000. Republicans, 2027488001. Independents, 2027488002. You can post your thoughts on and also on morning our Facebook Page as well. Here are the headlines. Reaction to last nights speech. Statesman this is the Chicago Tribune who chooses the same headline. The Columbus Dispatch with the headline lets get the job done is how the Detroit Free Press uses their headline this morning. The new york daily news, dawn hits reset, takes brighter tone before congress. Reset. Hits democrats, 2027488000. Republicans, 2027488001. Ndependents 2027488002 plenty of reaction overnight to the president s speech. First come of the numbers courtesy of politico. There were 84 applause lines. Five mentions of obamacare, one mention of the wall along the u. S. Mexico border, one mention of the media, one mention of radical islamic terrorism and zero mentions of H
Impose a new set of regulations under the employment Retirement Income security act or erisa on a greatly expanded number of people. Under current law, brokers and dealers that provide services to retirement plans are already heavily regulated. They are not, however, automatically consider labor law fiduciaries and therefore they are not subject to the increased liability provided under erisa. Instead, these Service Providers are subject to regulations issued by the securities and Exchange Commission to protect investors from fraud and ensure transparency. Under the new d. O. L. Rule, virtually any broker that provides Investment Advice of any kind to individuals regarding their individual retirement accounts or iras will be considered a pension plan fiduciary subject to Higher Standards and greater liability. As my colleagues have aptly noted, this rule will reduce the availability of Investment Advice for retirees and make the advice that is available more expensive which will have a