Next, a preview of cspans landmark cases from the National Constitution center in philadelphia. Welcome to the Constitution Center. I am the president of this wonderful institution which is the only institution in america chartered by congress to disseminate information about the u. S. Constitution on a nonpartisan basis. Beautiful. That is so inspiring. Wonderful live cspan audience. You can see the great members of the National Constitution center, like people around the country, are inspired by this nonpartisan mission of constitutional education and believe it is crucially important for citizens to educate themselves about the constitution so american democracy can thrive and survive. And in this educational mission, we are so excited to be partners with cspan. We had a wonderful collaboration a few years ago. Landmark cases. Which described the human stories behind some of the most Important Supreme Court cases of all times. That series was inspired by a comment that Justice Bader
Stories behind the Supreme Court most historic ruling. Welcome to the Constitution Center. And the president of this wonderful institution which is the only institution in america chartered by congress to disseminate information about the u. S. Constitution on a nonpartisan basis. Tearful. That is so inspiring. Wonderful live cspan audience. You can see the great members of Constitution Center by people around the country are inspired by this mission of constitutional education and believe it is important for citizens to educate themselves so american democracy can thrive and survive. In this mission we are so excited to be partners with cspan. We have a wonderful collaboration a few years ago, landmark cases which described the human stories behind some of the most important Supreme Court cases of all time. That was inspired by a comment that Justice Ginsburg made at the Constitution Center event a few years ago where she said how inspiring it would be to hear those human stories so p
Democratic values while backing it up with military might, has been the dominant strategy since World War Two. But with renewed russian aggression, and a rising china, is it showing signs of strain . Pax americana, the american peace, next on great decisions. energetic music [narrator] great decisions is produced by the Foreign Policy association in association with thompson reuters. Funding for great decisions is provided by Price Waterhouse coopers llp. dramatic music [narrator] World History is marked by the rise and fall of empires. Some remembered as periods of stability and progress, others for turmoil and war. [man] this was the great fire in the city of london. dramatic music [narrator] eras when the world was free of great power conflict stand out. Pax romana, when the roman empire extended through much of europe. Or pax britannica, when the sun never set on the british empire. The original pax is pax romana, the roman empire and the peace that rome spread. Pax britannica, in
Of these tax changes. So no net cost to the government over time. And you have peoples income up about 10 and additional jobs so more people are working. Now that is close to a free lunch as you can get. And thats the damage done by the current tax system. All the neutral tax systems are a means of getting the three layers of tax. Some are collected at business level. Some collected only at retail. Now my favorite, the personal expenditure tax is put down your income subtract your savings pay tax and whats left . That way each year you sit down and fill out a form and you say, they took what . And then you dont vote for them again. Where laz the retail sales tax might be nickelled and dimed and you may not save all your sales receipts and realize what has happened to you. But there are conveniences of doing it one way or the other. We have to take a look at those. These are all efforts to get away from the horrible horrible effects of the income tax and moving to a more sensible neutra
Prosperity. And you heard alvin just say over and over again, consumption based tax. My job on the panel is to try to explain why thats important. Its important because the current tax system treats income that you sai and invest much much worse than the income you can consume. Think about it in this very simple fashion. You make some money. You pay tax on that money. Whats left . Disposable income. Aftertax income. You have two choices of what to do tw the aftertax income. You can consume it right away, or you can consume it in the future. Whats consuming in the future . Its saving and investing. Now, lets think about how the federal tax system theets though two choices. If you consume your aftertax income right away, the federal government, by and large leaves you alone. Yeah we have a federal excise tax on gasoline. We have a federal excise tax on bows and arkansas rowrows, but theres really no federal tax on your income. What happens if you save and invest your income instead . Bet