Mar 1, 2017|
Do you think Trumps border tax proposals will work? It won’t work! That’s what many in the GOP are saying about Trumps border tax proposals. This hours guest: Dr. Jose Bautista - Economics Professor in the Division of Business-Xavier University Dr. Walter'Dub'Lane - Associate Professor of Economics & Finance @ UNO
Should drug addiction in the city be treated as a health issue or drug issue? More deaths due to overdose in New Orleans than homicide. This hours guest: Dr. Jeffery Rouse - Orleans Parish Coronor
Bernie Sanders said he’s going to push his plan for a single-payer healthcare plan like Europe. He says Obamacare is costing us too much and the GOP can’t get their bill together to correct the problems. This hours guest: Michael Cannon - Director of Health Policy @ Cato Institute
OH CANADA! Could Canada be the next country to legalize recreational marijuana? Canada is proposing legislation that would legalize recreational marijuana by 2018. This hours guest: Chief Larry Kirk - Retired Chief ( Old Monroe Police Department, Missouri & member of LEAP (Law Enforcement Action Partnership)
Is an independent “select committee” necessary in the investigation of Russian hacking & possible collusion with Trump associates? This hours guest: Max Bergmann - Senior Fellow at Center for American Progress Steve Bucci - Director of the Allison Center for Foreign Policy Studies at the Heritage Foundation
Automatically Generated Transcript (may not be 100% accurate)
General when you hula doing newspaper headline and you. She's a radio show you'd to use a television Johjima bic or we have and the pew goal. Nimble and bought short lists and read or whether Britney being. Sort of say hey we're gonna talk about the border adjustment and tax. I think our jewels laws ten million people. But bully bully reluctance and growing importance opted it's something. The trump and company in congress and senate or considering. And it gives Republicans. And whatever league gets complicated I go to among them I've favoured in common stock rose Byrd tees that. The vigil visit Xavier University doctors all of where did you nor appreciate your time. Thank you for having me around and play. Up Obama kind of sound like or break cannot below Brooke bloom we're listening to you could lead skewed talked in the signal goes well we will take a break and come right back. Tell me of it is Tuesday oversimplification. Sure and probably. The border adjustment to anything comes in from Mexico anything come to and from Canada and things come to and from another country. We'd tax him pretty heavily in these thing we export didn't get taxed at all how close them. Let me about an. God they're got it's. A putt and that that. It was much better much better ministry and to do. That. So that schools shall. Yeah yeah. Or would have been a little bit bit. Weapons'. The B sports their merit and maybe it's not. It it will result in. The export. It's not of been that can be a very going to be human city so that they incentive for companies to export to other countries. And so. That the government actually paid him. As. As an incentive. To. Repeal war we've other countries to produce or shall Mort. So. The very back bad you don't get taxed. The government is gonna give a subsidy on top of. All in or know a subsidy to the companies who Wear export. Eric. A 20% subsidy and they'll be at 20% had. Oil and companies who are importing. Cast your vote Erica. Are you here hear more good things by and really encroaching. World news the Wall Street Journal. Should Dalia thing says in opposing that your read Taylor's car dealers toy manufacturers. Coal industries. In oil industry. Now Coke industries. Is is one of the largest manufacturers. Of agricultural products. One of the largest owners of forums are corporate forms or this country. They need low paying workers. In. Their regain its discs. How losing skid through congress. If you've you've got things like oil industry called in for saying. This lingo now there's gonna hurt and how auditor. Sure that the the that the fear. Not only you know company like of color you know consumer you and I about you know leave the prospect. Good. Record year. Product there is produced in countries. Being as being. Tracked and that's what prices here you know make only difficult for consumers. Although. Intact and so being the entire border. Really well in order unintended. Well and he changed in our room via the only color. The congressional. Via the group congressional committees that that purple coat. The stated that they studied this and that they anticipate. Letters as a result of the tax because the increase because they get that subsidy that's gonna go to exporters. The value of the dollar will increase by 25%. Now. Don't go over critics of this saying they're saying well you know that. You will see you know will will will believe when we see. Again so insular you know you're holding it to activists say yes well this is exactly. What can happen. You take you know it comes down to you well you hear greater tree. Those who say that media. You know it is that it guarantees that dollar preceded by 25%. In the airport. It will again as well that billion. Which will facilitate. The that. This corporate tax cut that. Those. Or does it let me take a break your sort lose part of bureau and signal. Won't bloom we come back to Q you talk about that dollar. And one thing goma and if it it sounds good breeze and some probably don't get 106. We did so from other countries they get attacked heavily. What the dollar back home you plot to wage opened their own and the goods duo in patent. I haven't that how does not honey and no wind and where it's gonna benefit. Because there you're hurting all the people currencies. And your buying stock wronged him bending kindly gave sole thing doesn't say whether it's questions comments. Border or road tax. Trump and congress are considering. Good idea bad idea. Boy sounds sounds simple. Controlled. Congress senate. All considered some of all considering. Something gold border. Adjustment tax. Pretty simple we miss something seldom to Mexico award to a blog tomb. We don't pay he tax. Base and that's something we'd tax it heavily. Brooke we'll receiver couldn't find here and we could get really complicated. We're god GE. Proposal would in disadvantages. I'm sure they're backing. Let me read Greek. G Dow Chemical sponsor. They're backing him because of proposal would help in disadvantages. For American made products. While Wal-Mart target ninety Toyota Motor albeit remote company's card companies. Or opposing it includes aides say you polyps you wouldn't be eaten. Or going to be paying more. For the things that we buy only a regular basis. That Jews considered are like cell phones cars itself. Federer and several lists group doctor Jose between east and economic propulsion. Division business Xavier University doctor again in soup I can pundit. One the one good thing to explain and and and you don't live this is war on. This this all sounds good in your forehead but the value of the dollar. Crude warned his whole thing or two things have pointed out these big the article and looking man. They interviewed a pin to bring you would work. And if you cells in Mexico. While. The entry in the taxes. But since the dollar has appreciated. In value against the peso. Mexican. Consumers. Can afford to buy meaning of the table. So he sells laughs and brings and less revenue. Scheduled complicated and. Well you know yes it does it that he can't hear it because again where we're looking it. Prices at different. You know actually Mariane where both exchange rate you know. The interpretation. That it gets mired. We lose track of is that when. The value of the dollar appreciate. Then the value currencies of other countries coats to. Goes down and so therefore there. Buying buying merchandise and other countries is in his throat will be cheaper. And so therefore that would that would actually encourage purchases of goods from from other countries. So. You know there was there was a game you mentioned the Wall Street Journal com former senator. Phil Graham. A distinguished economists and so great. You know what is pretty at a article. Last week in the Wall Street Journal he was pretty critical about the border adjustment tax things that it was pretty it's going to be pretty much washed out. Between. The subsidies that US corporations. And the yeah. And the you know higher rates is that. You know that. Producers so. US import. Are going to have to face he says you know it's pretty much. Then the net effect of that board just intact and compete mail but as a result he is you know there are pretty. You know slipped away. The federal government reaching under twenty billion dollars. To be able to. Finance the the cut the corporate tax rate over over ten years now. It's criticism again is based on that he doesn't he doesn't have to treat. In. The appreciation of the dollar. And growing up you know by 20. X 20 5%. That he you know that the house you know congressional. Economists that have forecasted. So. Do you agree with Graham because. I think under the symbol saying it loses its just gonna be Walsh. It's attached beneficial. In some terrorism nod and others. And it's it's all kind of a moving target is that not. It well again yeah yes and so. Think on the on the pro side of this. These these criticisms that Nick Graham raised where steadied by again another very distinguished. Economists. Martin fell fifteen who is in part professor. Professor at Harvard and media council economic advisors in the in the Clinton administration. He settled and in the years the anticipation. Of Armageddon you know that the critics there are racing are. Pretty much. What will have an impact of what he sees some point 3%. On the media on the economy which. Is it is a valid point also because. If you take net export. Perry the difference between what the US sells abroad and what we purchased from other countries. That isn't it it comes out when negative 3% of the entire GDP of the United States. And you know where you'll hear you know we're talking about a negative 3%. That's not too much of that and in. In the overall performance of the economy. What really should take place in order to generate growth is not to rely on borders you know border adjustment act. You know to generate revenue but. Increases in the corporate productivity. Up the economy. Increases in technology and these were brought out by a recent article. Right labor economists. Used to be at Chicago now recent Stanford it was a year. And his pointless. It is it's a very content area. Is Albert Goodwyn in their. Technology has to in has to improve in the United States less. The technology. Being confused by increasing human capital. And again that victory creed that requires you know better no IO labor force. And now and I don't fingered him but he do scream this but I don't wanna go back into the gulf war. Everything there read review broke liberal conservative. Economy. Sick of this thing to worry of the dollar and other ball call. I'm actually worried knew Cody get even stronger. And these the exporter might be happy and they'll build you blue moon globe plotted the Braga and put no taxes. But the importers. Our intake of breath and it's a lot of things I'm reading an article here no I think these 7%. All close. 98%. Of bolt shoots. Or should tent or mobile. And that's going to be huge part of a consumer. Monday. End of the dollar doesn't say he's strong. And helping this I don't see how it works with the blood shall Wear action of the dollar. Welcome Billy doesn't work with the with the fluctuation in the dollar is that. When you have. Of when you have a country for example the United States if there if United States trade position improved after the incident proves. Then. Yeah he'll have the United States exporting. You know increasing exports. Included only oldies on an improvement. Invoking the. Not necessarily. Aren't that good. Beat the increase in increasing US exports and Goldberg over import. Is a matter of you know other countries demanding bore. US US goods. Now if we're the United States run the short run. Favorable trade balances in there what's called their current account. Right that's gonna it's gonna create a cash flow. And that's gonna create a clash. Cash flow in what's called the capital count from. The United States to other countries. And so therefore be at these other countries are going to be able to borrow. From the united state and you know if they're if they're they're wise in in in implementing their own. Fiscal and monetary policies. They'll use that money that they're firing community state. The system to facilitate. Milk consumers. Into. Expenditures on you know exported or imported goods for them from the United States. To go. So again the way the only international trade works if you know it unit tool we whenever whenever one country. Operates today trade balance their favorable trade balance which. Creating a cash inflow will open. Savings in that country increases or what to think it would increase in the changing they're lend that money out to other countries. So that again. They get a return on their money and other countries have an increase in there. Doctor of I'm thing I have to move in the middle of decline and can be. Gotten. I think I would have to boogie on down to see mine is. But this is important so we we've some GO but. This continues through congress if it's implemented it as a potential. To affect all birds and lomb boring that I totally think with the time via expertise. Will call again. Well thank you it is a complex topic you know which which it ritual requires a little like more at this. Today. Thank you and it. Come Carl Linda are you kidding me you can try to hit bringing ratings by talking about. Border that shows and taxes. And trees in the prize good columns. Borg at the time being and as a potential release of pegged to each and every one Obama's. And if you listen to than that review and talk show. People maybe I should just reading. The whole show. May be an odd I don't think dog Walter dog language. Stage in. I screamed about and border adjustment taxes on the call at sea is a professor. Economic opening segment. Doctors always thank you for the time. It. All right Greg in the club over simplifying. Visa bully you it is basic thought much more complicated. We make something in this country we exported no taxes. Mexico Canada Tim three. Makes widgets and has to it's we attacked it could be twenty could be 35%. Notes. Is that anywhere near quotes. Meant to do a corporate tax rate. And so yeah it just been as opposed to a birthday. It's an adjustment to the corporate income tax rates and the that you make and sell things in the United States you gotta pay corporate taxes but you exported you don't. Andy you've imported you have to pay higher taxes is a slightly different back straight. And basically now works. How about the companies that bid may be registered in Delaware. Or maybe not. But they or quote American. Companies. That have offices in Europe and Asia and South America and all of the world. And they don't loosen their profits back in because of the 35%. Acts. Does this reduce that. Well again the part of the deal is that as I understand the plan is to reduce. The corporate tax rate for everybody buys may be to point 8% in right now they're like that but what you'll. That 35%. On anybody to export their products so if you're register in Delaware in the United States. Even if you make a product abroad and sell to a different company. Because your corporate your corporation is he here you have the US corporate taxes. Which is what part of what's driving our corporations that they themselves and other countries have lower tax rates that are the highest in the world. That would go to a couple of things one is lowering the whole corporate tax rate which could mean more company wannabe. Moved their date back to the US. An and all go visit. Trying to tax. Import and subsidized exports so there's two totally going on. From my viewpoint it sounds like a great deal. Corporation for business. But I'm pretty car dealerships. Car manufacturers. Or in manufactures. Oil industry. Quote industry. The largest. Well old world drug corporate form oops. Wrong most of agricultural products in this country. Or against that. But GE Dow Chemical injure. Have they all think it's great thing held in year. Well again there's a cop there with very that you bring companies now are they really exporter importer Internet or do that pop and exporting countries in the in the exporting businesses in the United States. Are also almost all the popular in boarding most big companies both import and export. So there that are not necessarily in favor of this company like Wal-Mart on the other hand who art can be very much net importers need. And there are few companies like music and look at these are who are mostly exporters that are gonna love it but the Batman to compete they do well. And so it not clear who can beat her hurt or helped by. In terms of the company's. I know you're calling them a ball border bugged politics. I'm greedy. If I can't give run she'd sought from Baltimore. If my card call goes way up if my it's phone Golden's way. If my food caused gold we op. I'm only error that corporations. Or paying 20% vs 35. Yeah and that's quite a bit and that's what I think it effort as Wal-Mart and example because. 98% of their stuff is imported. They would be facing substantially higher. You know caught. Which means if you'd be almost everything Wal-Mart prices going up. You know automobiles are much different thing depends on which when your pocket because a lot of them import our other and put together. All all of them imported. Hard from blowing the world don't. They do that you and it date date April as the how what percentage. Date import but the ball well even though there. I mean it I mean like yours ago like the idea it would telling people I've got three cars. And which one has been made America dirt up my mock that was made America what Chrysler would make an. And so which went the import. Can help it go to the vehicle lot more complicated than is being. The good of real about it I think it's interesting. Is that all of this up. He's talked about politically I think this is something it will now the good burst for the public because it sounds like they're acting. Imports and subsidizing exports I think most people will think that sounds good until they get the ball. The pay higher prices and but but the problem there's probably an act of war. But the other thing that people don't realize is that all that maybe disparate show it won't affect prices very much at all because exchange rates will. Very Y ago let jubilation are likely adjust because people think about. You get a lot of attention on the rightly look good lead. Yeah one. To come back and talk about bad in particular. Could a lot of big content is our Reid say that it's it's going to be there of the port isn't in the putting. Of world would doctor Walter don't blame you fully understand I barely got out of high school I've sneaked into the back of his class. And am trying to ask questions. That sounds intelligent. And I just know always gonna help me when we come back. Questions comments that's up. Sounds kind of cool cooler and boring in some ways it did sands of potential blue bag your wife in new goodies. That you think you juror lied side Jews eggs or one lead suddenly doubled up. Our board thinks about to Border Patrol do in congress is considering who ordered Giles went to actual food or goal in his sleep. Sounds boring as hell budget something that brutally can affect us all basically in the Berea and educated. Wendy. The actual and they shouldn't it is. If you sell some pin from Buena island siege to another country known to acts. Pace held something to walk outs big detects. Sounds good. But you've got competing industry. Coke induced oral injuries during his wallboard. Car dealers. Augment core manufacturers. Totally against. They need others. Ord totally. Bore that seized a big benefit. So he would it's complicated weave doctor Walter Dublin. Who often called prep professor of economics and answered you know. Doctor you you mentioned something in tribal poured bright. That's this image and Craig went from this it's this kind of blood may be that cricket board crunch plan. Is the plot to wage and of the dollar done that about optics. And you eat it goes up and goes on. And it was breathing landslide. And shall bring new table bickering may wooden table. In these settlements item thrilled. And thing I've seldom Mexico. I don't pay thing. But if the dollar. Is strong right now and continues to appreciate. It lords about you'd peso. So my Mexican distributors. Can report. What I'm not going to be taxes on. To make any kind of money at all. So make any sense. Yeah exactly. It's good the price of a dollar in terms of Euro pound sterling yen and other currencies. In the premarket set price is based on supply and demand for dollars. Well if you try to sort trying to adjust. Our imports and exports. That it just the need for dollars abroad or people need dollars the goods from. Well if we're trying to. Export more though is an important that changes the demanded applied for dollars which will change the price that now in a way that kind of mean wash now. The effect of this tax so that when you're all over and done with that on. The actual price coming into the country may be using your paying 30%. More in I mean you were being let in import taxes but you're paying more for the dollars. So the net price may end up being the things that this whole thing mean it. If all markets fluctuate. Really. It might and having no net affect other than one that sounds like you're doing. Node noon out of the act blood and of fact on certain industries. Yet or our goodies. Cell phones cars hopes. That. Yeah so Britain I I would never bring about one supplier who all is contracts with other countries. Are done in terms of dollars not in terms of their country. So that they take away what call currency. Well now are using that those countries and it pretty. Pretty hard they're gonna do paid more for all but other countries other companies that buy from from abroad. There. You know not with with with dollars and happy corporate rate they might be affected differently sub country might be companies might beeper and others. Well be as much. So it exactly how it is playing out. Is is not as simple things. You know some countries like Wal-Mart and retailers are going berserk if they really believe it. That thing is true exchange rate cut that it will be but not sure that can happen and her dad is the cost will go. Other music really liked it and they think you get that but it it it gave Berry Berry well. Oh we have a minute Lebanon wonderment as you mentioned I think. Yet American cars and the car inaugural American parts from all liberal breathing does through those news and world report. Captured proportions of imports code directly to American actors who make him do you make and use them to make new things. Prime example auto industry. Which relies extensible you Mexico pro or parts. Every race car built in the United States. A quarter of the port or imported. Form outside the country that's another example of how complicated brought. That's right data that opened the price the cars are going up and it bet that if we that happened then. In this arena people like it is much. Word what do you think Doctorow mom through like co succeed plots. I didn't get yours and yet what it would get. I didn't I can stay in the class cents all that matter of always appreciated his time they have a great day. Doctor Walter dog playing professor at home and spending hints. Ed you're the only. You know come and rub the actual talk about Trump's speech. Should they covered deck Jordan reed to get about president prompts. Beach to congress last night. And Edwards in general we're good to pound trumbull cool content for error. The liberal media. Is is given him plaudits today. So we'll talk to hook a little political analyst. And political scientists. But primarily it will focus on the goods that so many thing. That he did during that speech. Governor Abdel big at 7 AM mortal 53. FN.