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Great bonuses to people. at&t started it. but they came up and they paid all of these bonuses. a florida software company just announced $1,000 tax cut bonus for its work forces. apple just announced they are giving their employees tax cut bonuses worth $2,500 each, and because of our business tax reforms, apple has just announced that they are bringing $350 billion and putting it into investment into our country. $350 billion. [cheers & applause] 350. that s a lot. when i heard the news yesterday tim cook is a great guy, the head of apple. when i heard the news, $350 billion, i said you mean $350 ....
Of this reform, frankly, and i think it s not nearly as good in my view as the corporate side. it s a hash. i think that s right. i mean, no cut in the top rate except a minor one in the senate. i know and i know you know in your economic research talk about great cuts give you the economic bang for the buck. there is little of that here. indeed, the house bill goes the wrong way in many ways. there s a phaseout that gives 45% marginal rate. that s going the wrong direction. the senate goes the right direction but not very far. estate tax is a mish mash in both bills. so individual side turns out to be a wash. the core elements are business tax reforms. those get the united states back into the 21st century. on the corporate side, and ....
Retraining for long term unemployed? the georgia plan sounds interesting that s something we are looking at an unemployment reform. temporary tax rebates like i said, i m all for letting people keep more of their own money. this particular idea was tried in the bush administration, early in the obama administration and hasn t worked. when you are taking temporary rebates and paying for them with permanent tax increases defeating. we don t want to go with ideas that have already proven to fail. we want to advance solutions that are proven to work these don t do that. we think business tax reforms are helpful he didn t put any ideas in the bill he sent us. chris: president obama has been going around the country over the last couple weeks. he says, if your party blocks his plan, he will blame the gop for the continued unemployment. let s look at the president. the president: it is time for the people you sent to washington to put country ....
He played a big role in helping to craft the tax bill, work with the ways and means committee and consult with senators. among the less fancy things you ve done is explain tax policy to me over the years. let me start with you and ask you about the bad branding so far of this bill with only 24% of americans in the nbc news/ wall street journal poll thinking it s a good idea. yesterday cnn had that number a little higher. i think about a 33% or 35% approval rating. why doesn t anyone like it? i think there are three things to think about here. the best explanation of how it works is in the economics explanation and people hate economists. so if i we don t hate you. but if you start winding through the logic of the business tax reforms, the incentives to invest in the united states instead of elsewhere to have more innovation and patent boxes and have all these fancy trademarks and copyrights here. and with the ultimate goal being ....
Treasury. it should be about the fact that these folks haven t seen a raise for six years and we need to get one. we have an unemployment rate down at 4%, people are working but there s not enough word and that s ought to be the central focus. even janet yellen says there may be modest lift. is that the best americans can hope? i think they can do better. i disagree with janet yellen. i believe the business tax reforms if when this compromise bill comes out are as strong as they re intended to be we ll get better than what she says. i want to bring nick and viv in but doug i have to ask you, the individual tax cuts are not permanent in the senate tax plan. the argue system that no future congress is going to roll back tax cuts for americans, it s wildly unpopular. it seems, though, that that s making regardless, that s making a bet on how future actions unfold. that is making a bet on the politics and political experts can weigh in on that. ....