Bob iger is about to join us as disney buys a big chunk of 21st century fox. Retail sales up 0. 8. But we know what the lead is today. Yep, we finally got the deal weve been talking about now for more than a month, of course disney buying those fox assets that weve detailed time and again over this last, lets call it, five weeks or so since we first brought the story to you of the talks between the two it is a large deal, to say the least. Depends on how you want to value the equity right now, at current prices, and if you take into the considerations that minority interests, its about 55 billion in equity. Some 515 million shares of disney will be exchanged for the fox businesses that are going to be sold to disney. Were talking about a deal with an enterprise value of 69 billion. Theyll take on 14 billion worth of debt. Tax liability which i finally got clarity on, 8. 5 billion to fox. That is the spinco, could come down as a result of tax reform, the lower tax rate and that will hav
Far welcome to squawk alley for a wednesday. John fortt, sarah eisen and myself watching the market creep a little higher. Dow up 37. White house expected to unveil a tax plan later this afternoon. Stev stev Steven Mnuchin gave us a sneak peek. Reporter big tax day here at the white house. Here is what we know about what is in this plan according to a Senior Administration official that gave this tip sheet to our john harwood. Starting with that 15 Corporate Tax rate, a big cut for corporations and also for passthroughs. The top individual rate would end up between 33 and 39. 6 . There is a revenue placeholder that could turn into the border tax. That placeholder is something to watch out for. There will be an expanded personal exemption or child care credit or possibly both. That would be important for the middle class. One issue on the passthroughs is whether or not wealthy americans would use that to incorporate themselves and say, im only going to pay 15 in taxes. Steven mnuchin so
Care, period. And what aggravates me the most is they think about themselves, period. And the editor of the Tax Policy Centers blog, tax walks. And ill be the host, moderator for this panel. Our format will be very simple, were just going to have a discussion, informal discussion here about when we heard so far this morning. And then well leave some time for questions for you all. Let me just briefly introduce the panelists. You know them all, im sure. To my immediate left is rosanne altshuler, professor of economics at rutgers and former director of tax policy center. Always great to have her back. John buckley, tax counsel with the house ways and means committee. Pam olson is the u. S. Deputy tax leader at pricewaterhousecoopers. And former assistant secretary for tax policy at treasury. And alan viard, resident scholar at the American Enterprise institute. I should also mention that rosanne many years ago was one of the authors of the get, which was a predecessor to the destinationb
Okay. Lets get started. Thank you all for coming. My name is howard glutman. Ill be the host moderator for this panel. Our format will be very simple. Just going to have a discussion, informal discussion here about what we heard so far this morning. And then well leave some time for questions for you all. Let me just briefly introduce the panelist, you know them all, im sorry. To my immediate left. Professor of economics at rutgers and former director of tax policy center. Always great to have her back. Chad buckley former chief democratic counsel. Pam olson is the u. S. Deputy tax leader and pri pricewaterhousecoopers and former secretary of tax policy. And resident scholar of American Enterprise institute. Row san, ma row san many years ago was an author of the get which was a predecessor to the destination based cash flow tax. Talked a little bit about that as well. I wanted to start by asking about an alternative to what were hearing this morning. We had a talk for years about the
Okay. Lets get started. Thank you all for coming. My name is howard glutman. Ill be the host moderator for this panel. Our format will be very simple. Just going to have a discussion, informal discussion here about what we heard so far this morning. And then well leave some time for questions for you all. Let me just briefly introduce the panelist, you know them all, im sorry. To my immediate left. Professor of economics at rutgers and former director of tax policy center. Always great to have her back. Chad buckley former chief democratic counsel. Pam olson is the u. S. Deputy tax leader and pri pricewaterhousecoopers and former secretary of tax policy. And resident scholar of American Enterprise institute. Row san, ma row san many years ago was an author of the get which was a predecessor to the destination based cash flow tax. Talked a little bit about that as well. I wanted to start by asking about an alternative to what were hearing this morning. We had a talk for years about the