Page 33 - Michael Strain News Today

We have the votes. well vote in january, february or march. >> and with republicans split on how to overhaul the obamacare, some dems could get a vote. we bring in michael of the state assembly. good to see you, michael. >> good to be with you, ali and stephanie. >> they said they have the votes. they dont. they tried this a few times and they dont have the votes. they controlled both houses but yet there arent enough people who can agree what good health care looks like and we might come out wi...

Boosting the earned income credit. the things that help middle income people. the corporate sector isnt hurting now. i dont expect it to be hurting "x" years from now. yet i know who is hurting. and i know who needs help. i know they dont get it in this plan. >> thats an interesting point, michael. this is an area we can agree upon, right? we want businesses to do well. we want individuals to do well. but there are things to stephanies earlier point about deductions for employee costs. why dont ...

Who are beholden to their shareholders and their customers produce goods overseas. because the american people said i want goods cheap and i want them fast. >> let me agree with michael for a second. i think our corporate tax code is very much in need of reform. i dont think it helps us that our corporate statutory rate is the highest in the world. and i would bring that down. and by the way, president obama proposed the same thing. however, thats not what were talking about here. were not talki...

>> i know you do. good to see you guys. thanks for being excited with us. jared bernstein and michael strain. stephanie and i are going to stay on this topic. also well do it on "velshi & rhule" on saturday at 12:00 eastern. now to another big story and hope eight days after hurricane maria ripped through the island of puerto rico, the press secretary for puerto ricos secretary of state confirms florida governor rick scott is in puerto rico surveying the damage. >> and this morning sarah hucka...

It wont benefit him, maybe it wont benefit him beuse hell be dead and buried but it will certnly benefit his children. lets bring? jared bernstein. hes an msnbc contributor. also michael strain director of economic policy studies at the american enterprise institute. mr. strain, i want to start with you. republicans are making the argument that cutting the corporate tax rate will have a direct impact on middle america. jobs will be created. people will get raises. show me empirical evidence wher...

Doesnt tell you whose labor. what we have found is most of the cuts in the corporate tax accrue that 20% when they accrue to salaried workers at all its those on the top of the scale. so if you really wanted to help middle or median income workers, you certainly wouldnt try to do it through cutting the corporate tax rate. >> michael, what do you think about -- lets go right to the heart of the matter. because the president is selling this, i think somewhat disingenuously as this great boom for j...

Rate on pass through businesses increases the businesses to invest in the united states to grow or even to form if the first place and whether that in turn increases hiring. >> but that doesnt mean that -- >> hold on. can i -- i got to cut through this and get to the nub of it. our corporations are more profitable than theyve ever been. theyre literally sitting on over $2 trillion of retained earnings. thats cash on hand. if they wanted to invest it, they could. if they wanted to borrow more, th...

Have. but the bottom line is this isnt middle class by most standards. >> one other point, whether or not you think you should get rid of amt. to the presidents point this wont benefit him, the one year -- >> the one tax return we saw which would be a $31 million difference if he would not have paid amt. for the president to say this is not helpful to him, thats a lie. trump paid $31 million more than he would have in 2005 because he fell under alternative minimum tax. again, there are regular w...

>> you are correct that there are some pass through businesses that make a lot of money. there are also pass through businesses that are very new businesses, that are start-ups, or have been around for some time that dont have huge profit margins. but that are family businesses or small shops or businesses that have been around for many, many years. pointing to the fact that they are often organized as pass through businesses doesnt negate the fact that most businesses are organized as pass thro...

Did i say obama? >> you did. >> yeah, i dont think obama endorsed luther strange. at that rally last night they warned republicans saying were coming after the fat cats and wall street. were coming after silicon valley. and so all those republican senators now who are contemplating not only their general election but primary elections have to worry about backing a plan that would cut the top rate. steve bannon inside the white house talked about raising the rate. >> john, lets remind the attende...