Page 29 - Tobin Smith News Today : Breaking News, Live Updates & Top Stories | Vimarsana

the grinch? >> unfortunately, it is, it's the most important time of the year, and the profits are made and the problem is simple. uncertainty, uncertainty, uncertainty. nobody knows where they are and nobody knows how much money thr they're going to have to spend and the outcome is worse. higher taxes and less money in the economy and less money to buy. retail no good. but, susan, actually the national retail federation is saying we should see increase in holiday sales like 4%? >> that's right, brenda and i'm still staying optimistic, two really important numbers at that came out th...

Showed in the graphic as we opened up the segment, that caterpillar, in this environment, you know, with things like sandy going on and things would be for casting job growth and hiring people, but instead they're laying off people and yet a long list of companies on that and the reason is, they see a sour economy. >> why do they see a sour economy? >> government is growing bigger and stephan, about 24%, study after study has shown, as government takes over a bigger percentage of gdp, it surely will, faster than perceived or forecast at gdp growth, it crowds out private investor and growth per...

Bulb at one refinery gets knocked out because they rise and fall based on expectation of demand and supply, not the reality, so, they could go up a little bit. we could have a big one-day jump. they'll corrects in a couple of weeks and people won't be driving in this mess, and they shouldn't be, just stay home, be safe and don't worry about it. >> brenda: i don't know, tobin, i'm worried, what about you? >> well, i'm looking to the nasty ugly speculators, there's a futures market in gasoline. if the people who know the business best thought that gasoline was going be to be knocked out, a huge ...

what about the plan to overhaul the tax code. what is it going to mean for jobs. >> i think it's going to be great for jobs. overhauling the taxes is the thing that the governor and hopefully president romney can do. and incents, if that's a word, every individual and corporation out there. provides a path of what they're going to do, what they're going to pay and if it's simplified and overhauled, it will get rid of hopefully a lot of the special interests, which takes the government out of the intervention and provides a clear playing field for everyone. this could turn around our ...

0 rates and get at them. and in fixing that, if you pay 25%, and then you get deduct the mortgage or don't get to deduct the mortgage and pay 20%. if you're net-net not getting taxed any more, i don't see how that's actually going to lead to more spending and i tell you a little dangerous in the short run, the housing market is still-- and to pull out major deductions the home mortgage deduction being one of them. he didn't say he was going to do that, if it didn't do that, but makes the budget work. >> brenda: i know, the tax code is like war and peace. overhauling it, will that help get jock...