Page 4 - Dan Mitchell News Today

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 y...

Be militarily defeated without being treated in the homebase and so this fight eventually has to go over the iraqi border not odd. [inaudible] you dont really expect to defeat them . But there are ground forces. [inaudible] we have are the spoken about playing the role and im not suggesting that we have an optimally configured ground force in the region but im equally clear that injecting western boots on the ground would not be the solution. That would not deliver the solution. Try as they may ...

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 ta...

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 ri...

Specifically blamed mcconnell for his push not being successful. The truth is if the majority leader hadnt opposed us we could have insisted that iran recognizes israels right to exist and released its hostages before any sanctions are lifted. He told reporters. More now on whats in store for the senate from a capitol hill reporter. Good morning to you. Good morning. Explain this criticism and where it came from . Has this been long simmering between senator ted cruz and the Majority Leader Mitc...

In the 1940s and putting together the concept of income we now use today under the income tax they were neglecting the adverse effect on the labor force and it wasnt unknown. The godfather of the income tax henry simons and one of the two leading godfathers admitted that it would damage the economy and his current disciples dont want you to remember that or theyve forgotten it. Heres what simons said about Income Taxation. Income taxation is broadly an instrument of economic control. A means of ...

In his heart. And enter barack obama who questions his seriousness. Take a look at this. 18 months im turning over the keys. I want to make sure im turning over the keys to somebody who is serious about the Serious Problems that the country faces and the world faces. All right. Well, obviously president obama doesnt feel that trond dump is serious on these and issues my feel here as weve said many times is not debate the messenger or what you think of him but the meng because that my friends is ...

John thank you. The phrase, the American Dream came from a book written in the midst of the depression. The author wrote america is that dream of a land in which life should be better and richer and fuller for everyone. And for many people the dream has come true, now im told somethings wrong. The dream is no longer accessible, this summer a poll asked people is the American Dream suffering or alive and well . And 75 said suffering. Is that true . I mean, what do you think, audience . How many o...

[cheers and applause] john the phrase American Dream came with a book written in the midst of the depression america is that dream of a land where life should be better and richer and fuller for everyone and for many people the dream has come true but now ayatollah something is wrong. It is no longer accessible is it suffering or alive and well . 75 percent said suffering. Is that true . How many of you think is as achievable as it was before . [cheers and applause] how many of you feel not so m...

Long and nobodys ever seen this much water. Historic, after what happened, but it happened in texas and texas can handle anything. Trade to residents in the houston area but they welcomed flight. The sun finally rising go viral. Harvey continues to have an impact on the energy area. Reuters reporting the largest refinery in the United States shutting down due to the storm. This disruption could have a major toll on gasoline prices as they head to the holiday weekend. Right now one fifth of all u...