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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 tax and whats left . That way each year you sit down and fill out a form and you say, they took what ....

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...

Good monday morning. Welcome to squawk alley. Jon fortt, sara eisen and myself at post nine. The markets up 63. Joining us today, re code executive editor cara swisher. First we want to get to phil lebeau for more on this ceo shakeup over at ford. Phil, good morning once again. Thank you very much. We will be talking with bill ford jr. , or actually bill ford, the executive chairman of the Ford Motor Company, coming to us from the companys headquarters discussing this decision in terms of dropping mark fields as ceo. Hes being replaced by jim hackette. Jim hackette, formerly the ceo of steelca...

Morning too. Well take a look at some drive times coming up in less than 10. We are tracking several major developments regarding syria overnight. The Syrian Government dismission white house allegations this morning that the countrys preparing for another chemical attack on its people. The u. S. Says syria is behind an april attack that left dozens of people including women and children dead. Last night the white house said it looks like syria is preparing for another attack and if it did, it would, quote, pay a very heavy price. The u. S. Responded with force last time. Bombing the base from...