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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 right away, or you can consume it in the future. Whats consuming in the future . Its saving and invest...

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 mitigating economic inequality which well assume that moderation of inequality is an important objec...

Congressmen served in the texas house. I want to put you to together. He is an eighth generation farmer and rancher who served on Agriculture Policy board and energy council. Previously she served as county commissioner for precinct to and a member of numerous boards in el paso. Has focused on border policy, education, and youth leadership. She works for the 16th congressional district. The fromerved as 2002 two 2009. He served as the texas secretary of state and is chairman of the Texas Railroad commission. Of a Management Consulting firm managing crossborder business development. He is not h...

District 28 here and he serves on the House Appropriations committee and on the committees of homeland security. As housey, he served trained in the house of representatives. Then we have the then, thisonal congressmen served in the texas house. I want to put you to together. He is an eighth generation farmer and rancher who served on Agriculture Policy board and energy council. Previously she served as county commissioner for precinct to and a member of numerous boards in el paso. Has focused on border policy, education, and youth leadership. She works for the 16th congressional district. The...

He says he flies private in a thoughtful way with a tax in mind. He also discussed his proposal to provide government subsidies to coal and Nuclear Industries and federal governments efforts to restore electricity to puerto rico. I ask our guests to take their seats, please. The subcommittee on energy and power will now come to order and the chair will recognize himself for five minutes for an opening statement. First of all, welcome, mr. Secretary. Its great to have you here. And todays hearing is going to examine the department of energys management and Mission Priorities under the leadershi...