Page 2 - Steve Dan 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...

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...

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 ...

Faces two devastating hurricanes. Made it clearnt in what he was aiming for yesterday was a bipartisan thewhile the conch country is facing two horrible hurricanes. Paul ryan also reiterated the this year. Here with latest is bloombergs chief washington correspondent at the white house now. Were the words yesterday, that this is about clearing the path for congress so they can focus on tax reform. Foo we look at some of the tone that paul ryan was taken there, can we say he was irritated . Body ...

Korea. [inaudible] good afternoon. [inaudible] the president and the administration continue to monitor the situation in puerto rico. The United States, the virgin islands, florida, texas and all those areas affected by hurricanes or harvey and arma. Femas traveling to the areas today the president will be making a trip to florida on thursday. The president s action during these times demonstrate why hes a true leader who can bring the country together and get things done for the American People...

Now across the region at this hour and temperatures are, well, still on the chilly side but hey were making improvements from yesterday. Lets go to the current temperatures across the region we have 33 degrees right now in philadelphia. It is 29 in wilmington. Thirty in dover. Thirtyone millville. Twentys to the lower 30s down the shore. Thirtyone wildwood. We are in the lower 20s in the poconos at 22 degrees. Heres improvement though we are already warmer compared to just, and, and, and, warmer...

The wait is over. Not only a champion but a major champion, Danielle Kang wins the kpmg womens pga championship. Birdie. One shot winner over Brooke Henderson who made a great run to make it backtoback. But now the emotions beginning to fully set in for kang. Theres her mom. Grace here with her. You know, thoughts of her father in her mind as well. Caddied for her two amateur championships. She now has the thought that she is now a major champion. First win as a professional, moving in the tenth...

Will focus on the middle class of lowering taxes. The Federal Reserve in focus today not expected to change policy when they made the announcement later today. The president may consider a change at the top. The featured the side of the fed feds plans in terms of Interest Rates. Wouldve pushed the the increase to december today . We are watching. We are hearing from dow components boeing and cocacola that may very well set the tone. Ford and facebook after the close. Future should the markets wi...

Steve bannon, controversial adviser to president is leaving the white house. Bannon has been on shaky grounds. Or weeks heres what President Trump said about bennett on tuesday during a News Conference at trump tower. President trump i like him, hes a good man. Hes not a racist, i can tell you that. He actually gets a very unfair press in that regard. Hes a good person. A good person but he is out. That craigjoins us gordon joins us from our washington bureau. Theres a lot of speculation of stev...