people join the twenty first century the petrol the pag to the country's reserves of oil and gas as well as gold and was created specifically to counter sanctions from the u.s. according to reuters the boulevard dropped fifty seven percent of its value in the past four weeks alone and even though that while a boasts the largest reserve of crude oil in the world falling oil prices hit the economy hard of the past three years however the crypto markets have been doing famously famously well over the past couple weeks with bitcoin trading over eleven thousand dollars. if you don't states passed their version of tax reform in the early hours of saturday and the u.s. house reason house representatives passed their version a couple weeks ago well a conference committee be able to work out the differences and will it be done before the end of the year as a christmas present here discuss that and more conservative commentator steve malzberg in the deputy director of public citizens congress watch susan harley welcome to you both thank you for being here is such

a busy time of year in general particularly with all of this move moving you get to see how some of the sausages been made inside washington d.c. the belly of the beast this last weekend scrawled additions to the last and last minute changes and even a few senators who say they didn't have time to even read the bill tax reform is passed both chambers and will we get a conference built i want both of your takes steve how about you first what do you think you've been positive on getting this done what do you think now yeah absolutely i mean there's a chance that the house my dad actually you know vote on the senate bill we'll see but i think there are some differences though you know i think the house will adopt the senate bill who said at the end of the obamacare mandate i think that's big of course that should have been a lot more of a problem in the senate then it would have been in the house because they already passed obamacare reform in the house so i think you'll see that in the bill also the senate bill delays the institution of the. corporate rate deduction for

a year again i think i think the house is going to realize and does realize that the senate has you could only have a small margin of error only two votes could be know anything out there and it's dead so i don't think that house is going to gain too much of what they had in their bill at the expense of what the senate had in their bill i think it's going to be mostly senate stuff if you will and that's what's going to come out in this bill will pass it will be signed so in europe that really apropos and you're writing susan collins of maine said that she was voting for the bill the other day but don't count on her for the final thing a susan what's your take on this thing that the american public is just now starting to understand the implications of this far reaching tax cut plan and they are highly concerned with the fact that this is a giveaway to the one percent to the corporate donor class to multinational corporations that are quite profitable and no one wants to see that be paid for on

the backs of working americans and that's exactly what this plan is seeking to do and one of the points i think that we really need to talk about is that repeal of the affordable care act man day and this would push thirteen million americans out of the insurance market and make premiums go up for everyone else and that is not the sort of outcome that americans are willing to have and so the fights are just starting and i know that there's going to be action all across the country this week and so there's still a moment where people can say that this is going to have implications for the twenty thousand election if it is passed steve what about that on the health care you and i have gotten around on this a couple of times i mean clearly if you don't have health care you don't to pay for it but then somebody has to pay alternately but what's your take. well i mean these thirteen million people will no longer opt to have health care they will opt out of

held to having health care because i told now they're under the threat of a fine if they don't have it they're making them have it well they will decide of their own free will if that's an accurate number by the way because i thought thirteen million people had obamacare now you tell me they're all going to go away so the point is if they choose to opt out that's their choice that's what everybody's choice should be and so i think and then what happens what happens susan if they opt out i would say that we get further away from the goal of industrialized nations of having health care be a human right i don't think that america with all of our ranch and should have people who are uninsured this is not a right thing for our country to let the weak in the sec not have the health care that they should be able to have and so it's not the right direction for america and i know that the rest of the country feels that way oh yeah going it mean they're going to give me the sick people can't decide on their own whether or not

they want health care the government has to tell them to do it and by the way i have to chuckle with all due respect when you talk about premiums will go up really i mean under obamacare prev your check your premiums lately america if you check your deductibles on top of your for amy holmes it has been an unmitigated disaster on their obamacare so so so my only because i want to get back to the tax reform part of part of this but the point is somebody somewhere is going to pay for that health care we can debate where it's going to be a little bit later but i want to refer to a chart and that we used here on this program on friday you know steve and i we've talked about this a couple times i want tax reform and even you know different than some of my progressive friends i don't want the corporate rate to go down i don't know if twenty or twenty two is right but i want to be competitive and i like the idea i don't know who doesn't that taxes should be simpler and i. supported getting rid of the seven brackets but the senate bill is seven brackets and i also liked what

president then candidate trump said about helping average folks but according to congressional budget office that's not what we're seeing i mean we we show that there are the c b o shows the nonpartisan congressional budget office there the score keeper for congress that millionaires really do much better than average taxpayers under the senate bill the average amount of income in this country is something like fifty six or sixty thousand dollars a year and those people end up actually paying while millionaires will get some sort of deal nearly sixty thousand dollars in the first year and about nine thousand dollars in twenty seventeen the lower twenty twenty seven the last year while individuals that are that are in the average group they're going to sensually pay a few hundred dollars so susan do you think there's any rhyme or reason to what candidate truck trump talked about in the bill as we now see it i would say absolutely not

this is not a populist bell this is not giving. breaks to people who need it most and said we see immediate tax increases on the lowest earners and then everyone after twenty twenty seven that makes seventy five thousand dollars or less gets a tax break i'm sorry tax increase says because of the expiration of those individual pieces and so this is not the right outcome and in fact major tax piece that candidate trump was talking about was closing the carried interest loophole now the house bell has some changes on that but the loophole is not and dead and i think this is one of the loopholes that are very angry does the allows investment fund managers to have a much lower tax rate on their wages than average workers and so that frustration about that and that it exists it's just going to. amplify and i think that there

are a lot of provisions that are the same way hurting those that need a hand up instead of helping them and then another piece we just released a report on friday showing the lobbyist that have been involved in the tax fight and as we all know trump said he was going to drain the swamp instead we're seeing it intensified there over half of the entire lobby korean d.c. was using was lobbying on the tax sell that's over six thousand different lobbyist that are active on this fight and so that's a huge number and many of which are actually connected to trump and pants again the swamp is in full effect in just getting worse after this attack right i like steve i want you to chime in but first for our viewers i want to let them know and i know both of you understand this but outside of the house ways and means committee it in and i used to work in building the longworth building the corridor there they call

gucci gold and you can see lots of cufflinks and lots of nicely shiny loafers and that's where some of these lobbyists that susan is talking about are there but steve what about the fairness issue given what candidate trump talked about and the rich reality of where we are in these bills or at the child tax credit to speaking to the everyday folks the child tax care credit doubles under under one of them a goes up to fifty percent under the other i don't know what the wind up with this standard deduction doubles for individuals doubles for married couples the medical deduction in the senate bill goes up you also have the the medical expense adduction and the teacher deduction which i've heard so much you're crying about that goes up in the senate bill so this does hit average people but you know even brought obama was in favor of lowering the corporate rate and by lowering the corporate rate which is too often portrayed the corporate structure is too often portrayed as evolved they're the ones who provide the. jobs and if you lower the corporate rate and business succeeds and business does better and they could deduct

their out their purchases and and whatnot they'll be hiring more investing more and more workers will go to work salaries will go up it's been proven that's not a fantasy and this will eventually be revenue neutral of more we already have three point three percent g.d.p. in the third quarter revised for this year wait till this kicks in you're going to see numbers that are really really big ok you know that that g.d.p. number is so key and you know we'll talk about markets here on the show we talk about them on the show all the time but those market numbers are great too so my only final point is you know they've used this thing called dynamic scoring which takes into account the expected growth so the people that are there they better that think this is going to work they sure hope that dynamic scoring will work and they hope that the g.d.p. will continue to increase thank you so much susan harley and stephen walt your time and your expertise have a great day thank you for having. conservative

commentator steve malzberg and deputy director of public says congress watch we thank you for being with us and coming up as we go to the numbers at the final bell check it out. but i don't want to sell you on the idea that dropping bombs brings peace to the chicken hawks or some you know the battle is going. to socks for the tell you that the beach gossip the tabloids are still looking for. that doesn't mean you are not cool enough to buy their product. these are the hawks that we along with our audience will watch.

i've done some of the knots is not quite place is called good country and. yes it is the minister and the bush family as well above the storm. as you can just look at that as a call that is. the statement that the church. took over the charade of the. tragedy of christmas. only and just with all the embrace from the muslim of themselves to be the middle. of the. earth and into the bible for the last ten dots they can now write better john said i'm based on them i should ask her to tighten them in can i do not ask how we use the rice from that matter how on the money to. cannot. construct a man that can use our most. of the stock the number. of cities are in the

sort of numbers going to show you the studio at all of them go to the cities in the american our. voices in the city of the world over the street the. snow mobile argue over you know that a lot of this. is about. a u.k. based economist who correctly predicted the results of june general election is making headlines very pretty bold brecht that statement according to samuel tombs a pantheon macroeconomics u.k. will never actually leave the e.u. in a note circulated to clients who wrote a transition deal which keeps the u.k. in five the single market in customs union but gives it no say over its rules is the only viable outcome in two thousand nineteen u.k.

life we will go into a transition deal intending it to last for only. two years but we see a high chance of it becoming permanent also pointed to the decline in support for a hard hit in a recent poll from forty six percent of voters had the u.k. was wrong to vote leave based off of the way bracks the talks are going his argument isn't too hard to believe on monday u.k. prime minister theresa may announced at a joint press conference with the european commission president john clive younker that talks will not get moved to the next stage. australia is looking into us tech giants facebook and google over concerns they're harming the country's media industry in a statement sam's chairman of the australian competition and consumer commission said we will examine whether platforms are exercising market power in commercial dealings to the detriment of consumers media content creators and advertisers the commission's inquiry will have the power to demand information from google facebook and other firms as well as hold hearings the investigation follows years of falling

profits and job cuts in newsrooms across australia but it's not the first of its kind inquiries into u.s. tech powerhouses have been on the rise over the past two decades google and particular it's facing up to one billion euros in fines from the e.u. . and i have been successful in keeping our two tax experts around for a little bit more commentator steve malzberg a deputy director of public citizens congress watch harley i felt unfair steve that i left you on the dynamic scoring and republicans who have continually been saying this thing has to pay for itself in particular in the secretary of treasury and many member of congress and the senate but here we go and it's going to cost it looks like a trillion dollars but what do you say to that or is this is that just what it's going to be. really underestimating the revenue that

will come from this spill i think they're really underestimating what the corporate tax and the advantage is being given to corporate america and the also the pass through businesses the small businesses in this country will bring you know they're they're independent and they don't have an axe to grind when it comes to partisanship but they've been wrong before and you know time will tell but i have to say that i'm glad there's no trigger because i think the trigger mechanism that bob corker who was the only republican senator to vote no on the bill what he was looking for would have been a disaster because let's say we wanted to recession then certainly revenues would have fallen short what do you do increase taxes at the same time we're in a recession so that was a disaster waiting to happen but i'm very optimistic and i put my faith in people like stephen moore and larry kudlow who really know what they're talking about in my view and are good friends and they're touting the economic growth in this very very highly susan weigh in on this you've got a rebuttal to steve would say we tried trickle down before it's been proven to be

a failure i don't see why we think this is going to be any different we have states like kansas that tried cutting their taxes drastically we're faced with budget shortfalls unable to provide public education at the levels that they need to this is the path that we've seen happen in reality when tax cuts this is not the area this is real outcome when you cut taxes jobs don't come trickling down as promised and in fact we even have c.e.o.'s who refused to raise their hand when asked by gary cohn whether or not they would create jobs after receiving these tax cuts instead we know that they're just going to have dividends for their shell shareholders increase or buy that their stock this is what happened when there was a repatriation holiday back in two thousand and four i don't see why we think history is not going to repeat itself. the previous the previous tax cuts did not include at the individual cuts at the same time as such

a massive corporate tax cut which is going to bring us in line with the rest of the world this is unprecedented thank you steve that that's why i wanted you guys to stay a couple extra minutes i knew it would be good and it was thank you very much steve malzberg and susan harley thanks for your insights in helping us try to sort this all out for. not too long ago the u.s. men's soccer team was eliminated from competing in the twenty first before world cup leaving fans feeling anguished one sports economist says that loss could also have some financial implications and more about that we're joined now by the actor matheson professor of economics at holy cross victor you were on the blog of the sports economist at the u.s. not being in the world cup could mean money problems for russia which is the events host next year how so. well so the united states isn't always known as

a big soccer power however when it comes to the world cup u.s. soccer fans like to travel almost like no other country in the world both south africa and brazil we have as many people come in from the united states to visit those countries as essentially any other country in the world so you know sort of mentioned this but the u.s. is not exactly a quote soccer mad nation and a mess but american fans have traditionally made up a big portion of the fans that attend the world cup so why do you think that is. so it's at least in part to the fact that we're just such a big country right over three hundred million people in the country as a whole we're going to get a lot more tourists go into the world cup that maybe in iceland this year smallest country in the world cup with only three hundred thousand residents in the entire country so that's certainly one piece there and maybe another piece is the fact that. our own domestic leagues major league soccer here in the u.s. maybe aren't the sort of things that inspire the u.s.

fans is as much as in other countries so for example in germany the fans might go and travel around the world to see byron munich and maybe not as much to see the german national team here in the united states if you're going to travel around the world to watch you know one of your teams it's got to be the national team because you're not seeing d.c. united or the l.a. galaxy on the world stage as a club so do you think fans from other countries and particularly the ones that are quote soccer mad make up for the lost of the u.s. tourists are almost certainly not right if you think about the sort of teams who are going to come from this region of the world instead of the united states that's going to be a coast to reka it's going to be a honduras it's going to have an amount of much much smaller countries in the united states certainly won't do anything to make up for the maybe fifty thousand u.s. soccer fans that might have normally been expected to go over to russia what about

the businesses that try to profit from the world cup for example the set noun states amping up point of sale terminals to accept digital payments made their phones or even smart watches during the event are they going to be hurt financially in the same way. well that's certainly of bit obviously also if your big advertiser who bought time already for world cup games here in the united states certainly of your ship might be down some. and again the all of russia was counting on huge numbers of course from all around the world and of course those host countries don't always have complete control over how many tourists are going to show up exactly for reasons like this of course we've got some other big soccer powers missing the netherlands italy also countries the travel fairly well with their teams and you're also missing countries like china which is again not a soccer med nation but certainly a place with lots of potential tourists that could have been flooding into russia

with lots of money so it sounds like networks could probably be hurt by this too i know fox sports paid four hundred million dollars to obtain the english speaking rights in the u.s. is that a decision they're going to regret i would say they certainly will regret it somewhat that being said united states is one of probably the few countries in the world where you could actually get away with your home team not being in the event and still having a lot of people show up so during the last during the last world cup in two thousand and fourteen the most watched game of the world cup here in the united states was not actually any of the games that the united states was in but was in fact the final itself which was the highest watched sporting event outside the n.f.l. in the entire united states a year the world cup is about six months away is there anything russia can do to prevent offset the projected loss in revenue york spec thing we might see. so pretty unlikely again there's just some things that are always out of your control

and how and what teams show up and how well they do is is one that's completely up to serendipity for example in brazil brazil got very very lucky they had the same sort of stadium problems that many hosts of had huge cost overruns there but when it came to the actual term in itself they got the best possible outcome big got neighboring argentina made it all the way to the final and because of that as many as two hundred fifty thousand extra tourists showed up in brazil beyond what people would normally have expected because it was an easy last minute trip for people from neighboring argentina to make so if you're russia what you're hoping for is well you are hoping for the united states and some of these other big countries to make it in the first place but we're also hoping for is maybe a deep run into the tournament by some some countries that could easily get their last minute so maybe hope for germany to make it all the way to the final i want to

switch gears now and ask you about the n.f.l. after nearly a year protests the league and players coalition reach an agreement for the organization and its owners to provide one hundred million dollars in funding for social activism projects deemed important by the players what are your thoughts on how that arrangement could work out. well so obviously this has been something hugely been in the n.f.l. and of course the rest of the country. teams owners players don't want to be seen coming out on one side or the other of the political divide pretty easy way to alienate half of your fans in a partisan nation like we've got today we definitely have seen this two years in a row of viewership being down in the n.f.l. doesn't make any difference for this year's t.v. contract since that's already inked on that deal of but it certainly could make a lot of differences new deals come forward in the future. question is what can you do. to try to tamp all this down at least one compromises is trying to get the

players to be standing during the employment to acknowledge some of their problems by by donating to their choice of charities some people obviously have been critical of this is in that or you just redistributing n.f.l. charitable funds from one charity to another it's hardly a win for the players if you get money going into social justice organizations but being taking out of places like the cure for cancer victor matheson professor of economics at holy cross thanks so much for your time well thank you for now thanks for watching see you next time. welcome to maximize are plentiful survival. that's the.

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the former yemeni president is killed by rebel fighters close to the capital son is fighting in the country intensifies the united nations is now calling on all sides to end hostilities. also ahead on the program the d.j. for team russia the international olympic committee prepares to give its verdict on whether the country can compete of the twenty eighteen winter games but moscow questions the doping as a political nature all the doping investigation. on there is out on preceded standoff between the u.s. government and the intelligence community the f.b.i. and justice department are given ultimatums by republicans to ireland over details of key investigation.