Your apples are ripe. It is time to harvest them. What is the best way to harvest those apples . Do you pick them from the tree or do you chop down the tree . Apples are income. The trees are capital. The reason we want a socalled, consumptionbased tax because we dont want to mistreat capital. But to understand why it is so foolish, dont think about marxism, socialism, free market theories think about it this way, if you chop down the tree or more accurately what the current tax system does if you harvest apples by sawing off branches of the tree, what does that do for your longrun prosperity, your longrun income . You obviously will have fewer apples next year. It doesnt make sense to quadruple and triple tax capital. On this issue marxists and socialists are right they agree with sensible economist. You need capital for long run growth. We should have a tax system treats all income equally. No longer tax income saved and invested. You want neutrality in getting rid of all the loophol
[inaudible] [inaudible] [inaudible] and that concludes our live coverage from lit fest in chicago for day one. Well be back again live on sundays. Now, if you missed any of the events we covered today, theyll only air beginning at midnight eastern. [inaudible] book tv tapes hundreds of authors throughout country all year long. Heres a look at some of the empts well be covering this week on monday at Barnes Noble Book sell rs in maryland former Washington Post reporter dale quinton will be discussing his latest book one month of murder. About a homicide squad in maryland. Tuesday at the new york union with league in manhattan, syndicated radio host eric argues that america has moved away from the founders original ideas on liberty and justice. That same evening hair Harvard Bookstore talking about the impact of fracking on l environment and public health. And on wednesday at kramer books in washington, d. C. , Police Science professor Melissa Deckman will look at role women play in the
How about i separate out the iran question from the Health Care Question . On the health or question that care question, i have answered several times, the bottom line is that we are going to continue to work every single day to make sure that implementation of the Health Care Law and the website and all elements of it, including the grandfather clause work better every civil day. As i said in Previous Press conferences, were going to make mistakes, and were going to have problems, but my intentions have been clear throughout. I just want to help as many people as possible feel secure, and make sure that they do not go broke. Were going to keep on doing that. On iran, there is the possibility of a resolution to a problem that has been a challenge for American National security for over a decade. That is getting iran and in a very viable fashion to not pursue a nuclear weapon. We had the first halt, and in some cases some rollback of Irans Nuclear capabilities, the first time that we ha
You Transparency International has and been pleased to work with the bank. Andbank. In an i would love the panel to tell us something new that is going to be so startling that will make the headlines tomorrow. Maybe something you dont say in public. This is a relaxed conversation. To hear the conversations that go on a little bit like that James Wolfensohn shared at the beginning. Those moments, those thoughts are instructional and helpful. Mr. Volker . You want me to give a relaxed news headline . We talked about all the difficulties of dealing with corruption in countries. That is true in many countries. All of which are represented in the world bank board. It is a hard problem, dealing with corruption by all these other countries. It is a hard time changing the minds of the people in the world bank on the subject. Is tough and unpleasant it is a tough and unpleasant subject and makes it hard to get the money out there and get a project started. There was a lot of resistance to mr. W
And judicial nominees ending and ongoing dispute over nominations that had tied up most of the chamber this month. The most highprofile nomination was janet yellen for the federal reserve. The hearing will be held in january and the senate will vote confirmation of the deputy secretary of the department of homeland security, the commissioner of the Internal Revenue service, and a u. S. Allrict judge in florida this morning. Earlier on thursday, senators had been preparing for a rare weekend session as democrats and republicans were at loggerheads on when to help hold votes. Senate democrats were informed during their closed Party Meeting that they would be staying in washington through saturday. Republicans had sketched out a plan ensuring one of their members with stay on the floor to keep their eye on democrats. Six other executive branch nominees were pending, mostly deputy ands for state. That batch of nominees will be sent back to the white house because they were not cleared by t