it's the middle class that meets their relief. second, unlike with health care tax reform should follow regular order. it's a subject that deserves hearings, committee mark-ups amendments and a robust debate with input from both sides. we would plead with our republican colleagues not to make the same mistake they did on health care and try to do it by themselves. they are going to have a similar result i would predict and third we believe that tax reform should not add to the deficit. it should not add to the deficit. it's big enough already. leader mcconnell said republicans will have to go at it alone because he doesn't agree with the democratic principles. leader mcconnell, which of our three principles don't you agree with? do you not agree that tax cuts shouldn't go to the very wealthy? do you not agree that we should work in a bipartisan way? do you not agree that we should not increase the deficit to? which those three leader mcconnell don't you with re-with? we know what's going on here. the hard right koch brothers part

the mess in the middle east? against christians and judaism in the middle east. >> there is hate against other muslims, too. people who commit acts of violence against and -- against christians would not think twice before they commit an act of bounce against sick of people, against other muslims. and there is a lot of people -- against secular people, against other muslims. there is a lot of people. it is perfect because you don't have freedom of speech over there. there is a lot a hate against christians and shia. [indiscernible] one they came out two weeks ago and he said we need to take a break from cursing the christians and the jews in order to curse the shia. [laughter] to focus on al ah to hate to the shia. it was nurtured over years. hate about westborough baptist church. think about that. >> thank you. so, last month in june, said theykurdistan were going to referendum on independence. how thisour opinion on would add another independent nation or a whole other issue with a nation with significant popul

situation in the middle east. the forum includes author david the author of "revolution for dummies: laughing through the arab spring ." we will also hear from former counterterrorism analyst malcolm nance. >> hello everybody. i am in los angeles. checking my microphone, thank you. can you hear me now? this is a debate we do every year. are on the portions middle east. tonight how weat got here and what we have seen as a problem that cannot be .ontained from spreading spreading through europe to our own shores from the middle east. i will start with david horwitz. david, you have some strong ideas have thought we got here. i am hoping you will also have some ideas on how to get out. david: first, let's look at what we are talking about. since the obama administration, 500,000 people have been slaughtered by isis in the middle east in the name of islam's god. and yemen have become terrorist states. begin with a dominantit has be, which -- regime. it has been replaced by russia, with syria and korea. the reason for

to retreat from the middle east. it was his policyto retreat from the middle east. he blamed the united states as a problem. into that vacuum, isis poured , if there had been 20,000 american troops, isis would've been stuffed at birth and 500,000 people would be alive and 20 million refugees were created because of obama's policies in the middle east. of course he overthrew an , american ally in egypt, whereas when the iranian people revolted in 2009, he was absolutely silent because his policy of strategy was was to embrace america's most brutal enemy. this was the iranians. he concluded his betrayal of the deal with iran. i am one of five people on this panel with these views. [applause] >> keep doing that because the sentiments that reflect 63 million voters in the country, half of the country, and of course the administration in , washington. >> let's stick to the middle east. >> i'm not talking about stupid polls. i am talking about actual votes. who is president, hillary or trump? if you want to understand donald , trump has been in office for six months. he h

- middle class, but we're not. >> i think nine in ten americans define themselves as middle class in one form or another. and it's obviously an attractive thing to say we're all the same class, we're all in the same boat. you're stretching the definition of "middle" now to include people with very healthy six- figure incomes right at the top of the distribution. and at some point, the word "middle" ceases to mean very much. >> sreenivasan: reeves defines the upper middle class as families making $117,000 or more a year. to illustrate the difference between them and everyone else, reeves points to this statistic: between 1979 and 2013, the total pre-tax income for the bottom 80% of americans grew by $3 trillion. the much smaller group that makes up the top 20%, their income grew by $4 trillion, $1 trillion more. reeves says the upper middle class income gains mean a greater benefit from the government's home mortgage interest tax deduction and more power to insulate themselves in better schools and neighborhoods. >> if you're in the upper middle class, you get to buy an expensive hous

that is where the upper middle class does benefit. because when you can get an nba who special -- mba who specialized in offshoring and one in marketing and one that lobby for trade policies, you can fire a whole factory, if the lower middle class can't get that $30 an hour manufacturing job that allows their kids to compete then we have $10 manufacturing jobs and the separation that worries me. i don't know if we have level of stratification in your book, only 40% of kids in upper middle class are able to stay, according to studies that i have seep, but whatever stratification we have is not justified. >> on tax i agree with you, i think that most ferocious class war in america is top 20%. i agree with you. >> make 100 grand. >> a third of that, one of demonstrations. >> all relative, i actually open a book with story of president obama trying to save the savings plan. that goes to top 20. it was outrage. you have to kill it to be first president in living memory into to ask your own party. why because upper middle class, including t

we can all middle of the root see. i mean real new. home dogs may not only be tasty but also deadly ship between kids it was suggested. and a fairly strong one there were two thousand. and the study it's a very extensive study done by a well respected scientists. do chemicals that down the advertising. really increase the risk of cancer and i chose the means are known to infuse damage in the last test is it a sham skepticism. that is is true by independent scientists so did the industry and you for this i received some compensation for my time as was the others why is that me too happy. didn't like what we were doing and if you want to learn more you'll get a definite on a lot of you out here do not go back. this is big business against health. this is starting to show us. all. safe. welcome back to cross talk where all things considered i'm peter lavelle to remind you we're discussing the shifting sands in the middle east. ok let me go back to sami and beirut one of the most important changes it's been going on is the change in leader

it is a tax hike on the middle-class families of new york city who already can't afford to live in the city and higher spending, higher taxes are not always the answer. look at our education system in this country. we spent more than any other nation but we lack in math and science. i live in a top-ranked school district and the municipal politicians encourage us to vote for tax increase for smaller sizes and classes were 50% greater. that's we have to show for it. trish: i would point out 500k. that's a lot of money. right, larry? you're talking about how the split middle-class families. >> it starts off at 500k but we know they will run out of rich people to tax. it's ultimately the middle-class who always winds up paying the bills because there aren't enough rich people to tax. they run them out of state. general electric move, at the moved and the middle class always winds up paying the bills. trish: the wealthy have a choice, jessica, they don't have to live in new york city. they could say i will pack up

yes i think what this at stake today is the new order in the middle east because or that. one hundred years ago has definitely gone and now there is a new or dude but to a different players with different powers that opening them up and for instance you have russia getting a big role in syria especially in the last two years iran the united states of america and. to a lesser extent saudi arabia so this is a new order. by. their powers and of course i forgot turkey that is a compact of that power it's on the scene for us. and the name of the game today is fighting the guy. who are. who will be policing. this. influence. each in the work that we have already mentioned so what's at stake today. or. do you find the balance of power for years. to come in joe it's very interesting in looking at syria here with the end of dash i saw islamic state it seems to me that there's a lot of jockeying position for what could possibly be could be some kind of peace settlement. in your mind here is you know we have tillerson the secretary of state saying if i can quote foreign policy tiller

season so far in the middle east.t some investment advice. this is bloomberg. ♪ ♪ yousef: welcome back to the "best of bloomberg markets: middle east." second gore earnings released by gulf companies this week, while mixed, have given a view of how economies are coping with low oil prices. we got more perspective on this story with the head of microstrategy. guest: i think what we are going through is a phase of adjustments. if we look at the first half of 2017 compared to last year, they have gone up. comparing saudi arabia to the uae was 56 versus 54 last year. but if we delve into the figures of the pmi's, what they are telling us is that companies and businesses were aggressively cutting prices in trying to gain more business. i think that is probably a reflection of what you see in terms of earnings. businesses are adjusting to try to attract new business by cutting price. this is an adjustment that is taking place. yousef: what about outside of saudi arabia? saudi arabia is the heavyweight. what are you seeing i

he's a middle east analyst and in erbil we have joe lauria he is an independent journalist all right gentlemen crosstalk rules in effect that means you can jump in anytime you want i always appreciated let me go to you first joe my introduction was very very broad. from your standpoint and you're in iraq right now what what are the most important trends affecting the middle east because there's so much going on right now unfortunately particularly the united states it's overshadowed by what i call fake news i want to do real news on this program here joe your thoughts were how is the middle east changing go ahead it's very easy to get lost in all the details like this so friendly complex particularly in syria i think the overall if you're looking for a really big picture you have to look at u.s. iranian relations and in that in the subtext of that saudi iranian relations and below that the standoff between saudi arabia bahrain egypt against qatar which i think could be a prelude to a conflict with iran trying to bring qatar into their own capital. they were too close to iran so i thi

can all middle of the room six. million more you leave. the way. most people think to stand out in this business you need to be the first one on top of the story or the person with the loudest voice of the biggest raid in truth to stand down the news business you just need as the right questions and demand the right answers. question. well you could you know well you know it's you know that's another one million people don't. even think you. know no one's going to everybody's around that's. welcome back to crossfire all things considered i'm peter lavelle to remind you we're discussing the shifting sands in the middle east. ok let me go back to sami in beirut one of the most important changes it's been going on is the change in leadership in saudi arabia in the giddy about it it looks like washington is given a green light is this really smart to embolden this young crown prince i mean you know the recent foreign policy of saudi arabia has been nothing but utter disaster in that you know we can look at syria and we can look to yemen but it looks li

♪ yousef: welcome to the "best of bloomberg markets: middle east." i'm yousef gamal el-din.he major headlines of this week. costs grow for the gulf state banks. a new twist in the dana gas saga. today, after moody's downgraded trying to shift focus away from the saudi led bloc's demand. we asked bloomberg's middle east executive editor if the invoice will be able to move its block off its hard-line stance. reporter: the 13 demands can be part of the six. the six are just vaguer. they are more general statements of principle, which obviously would open the door to some negotiation to some agreement. the six are based on agreements qatar has already signed. you think it would be easier to get to some sort of deal there. it is the u.s. envoys trying to push the conversation back to these broader principles rather than these very specific 13 demands. shery: where does that leave the u.s.? will they be able to achieve this? reporter: they are certainly trying. we've had a couple of weeks where not much was happening. the sense was that things are really stuck. as yousef pointed o

the best way really for to bring peace to the middle east. if you remove the money bags take the cash out. if gotter can remove its fun and the rand could remove its funding for hamas if the united states can stop giving a quarter to a half a billion dollars a year. to the palestinian authority. and of which approximately a half of all foreign aid goes to pay terrorists salaries if you let these people just live together and work together you will see peace emerge but what is the biggest export of the palestinian territories the biggest export is terror it terrorism the need for foreign aid and the and the unrest created by this horrible status quo people should be left alone or remember the third largest political party in in israel with eleven percent of the votes necessary to quite a bit of the country going on is the arab party created by a coalition of. arab parties that there are two hundred thousand arabs both muslim and christian who are working every day in as israeli citizens driving buses coding computers working in hospitals worki

because to me making sure that the middle class get most of the benefit in an economy where the middle class and consumer drive it, that should be the central focus of tax relief. so in your view should the middle class get the lion's share of benefits of tax reform? >> i do believe the middle class should be the focus, the primary focus of tax reform, yes, sir. >> okay. i want it clear that i am not going to announce a kautter rule because we have had the experience of having mr. mnuchin embrace the rule. i'm just going to hold you to it. >> thank you, senator. >> that's what we talked about in the office. i think that is the clear reality. i don't know of any other place you can do to drive the kind of growth that we want without zeroing in on the middle class. you're being spared having a kautter rule that the middle class ought to get most of the benefits. >> let me say, senator, i'm grateful for your forebearance. >> understand, we're going to hold you to the fact that the middle class ought to be in your words, the focus, of tax relief. which frankly is not what we saw in the cam

she writes a book and middle-class women in america devour it. it is like an action adventure story for them. because she writes the book in such a way that is to say -- as to say that there is something you can do as a middle-class woman. she also believed that he should be trained to do it, by the way, that you should not just run off. but she ends up like louisa may alcott, -- >> so there is an eager way in which people are watching the war, and she writes a very compelling account of it which makes it sound possible. and then you cannot discount the stuff that alcott talks about. she was inspired because she wanted to do something. i think that was how we started this conversation, the men were rushing off to enlist. she talks about that, and they all found a place for themselves and the war, and she was looking for hers. a generation of people who wanted to do something, wanted to be part of something, did not want to be felt -- left behind. women felt that too. unfortunately, there was this book, nathaniel, that had just arrived on their pa

some cities in the middle east are becoming big.from one place to another is becoming a hassle. that is why the trend today is to have a sustainable community. it doesn't have to be a gated community, but when you have the residential and amenity that comes with that residential component, i truly believe the trend in pricing is what we call also payment terms. a lot of people are calling for more aggressive payment terms, but that doesn't really -- it shouldn't happen at the cost of quality, because we believe in the product. if you perfect the process, i think the product will be great. that is why you don't be excited about having a good payment term and then get a shabby product. what is it? guest: i don't see a lot of foreigners leaving. we see a lot of people coming right now into this area. dubai is becoming a safe haven for a lot of people. not only investment. the employment market is up. i would say the competition. we still have ample space in the real estate market in dubai. but the pricing, competition, and the cost of

income inequality and a shrinking middle class. issue of rising inequality and the descending of the middle class is a critical issue that should be addressed as a part of tax reform. this is not a partisan issue. in the campaign, president trump talked about a hollowed out middle class and a system rigged against average americans. economists warn that it may be slowing overall economic growth. glen hubbard, senior economic adviser in the bush administration, suggests that the pro growth agenda may not be sufficient to generate inclusion and mass prosperity. one positive step would be adoption of legislation proposed by senators brown and bennett to expand the eitc for childless workers and to strengthen the child credit for families with young children. finally, fairness. the fairness of the tax code is highly subjective, but it will be critical to the success of tax reform, that it be perceived by the general public as fair. let me turn to the impediments. so, obviously, there's a strong consensus in favor of tax reform. why has

forces to leave the middle east. they want them out of the persian gulf, out of iraq, out of the arab states. >> you know what vanguard of the imam does is create historical clarity, how enduring it is, how deep it is, how it will not go anywhere? right. >> do you think americans are ready for this sort of? it's a giant conflict of which we are a small part, between the sunni, the israelis and iranian shia? do you think we are up to speed on this? >> i think in some ways we're naive into thinking we can affect it too much. i think the competition between iran and its neighbors an even turkey, to a lesser extent, is a regional competition that is really below our ra dark, i think american foreign policy can do so much. one of the biggest problems in american punditry and policy making, even in the middle east, and in their state sort of decision-making, is that the united states can do a lot to solve the middle east problems. i mean from my perspective, the middle east problems begin and end with the behavior of middl

to retreat from the middle east. it was his policyto retreat from the middle east. he blamed the united states as a problem. into that vacuum, isis poured , if there had been 20,000 american troops, isis would've been stuffed at birth and 500,000 people would be alive and 20 million refugees were created because of obama's policies in the middle east.

the white e house hass refused o say exactly where jared kushner is going through this middle st are, but also known he met ,ith a jordanian king in iman is slated to meet with the israeli prime minister benjamin netanyahu and mahmoud abbas today. a white house memo has outlined some of the details of f presidt trump's ban on transgender people serving in the u.s. military. the memo instructs the pentagon to refuse to admit transgender people to the military and to stop paying for the medical treatment for transgendered people who are currently serving in the military. the memo gives the pentagon six months to implement the ban, which was first announced on twitter by president trump in late july, sparking widespread outrage. five transgender military members have sued trump over the band. thousands of transgender people are currently serving in the u.s. military. the indian suprereme court has ruled in a landmark case that individual privacy is a fundamental right under ththe constitution, a ruling ththat could threaten the future of the world's largest biometric identitification pro

yousef: this is the "best of bloomberg markets: middle east." ahead, holders of dana gas islamic bonds may end up owing the company money. the latest twist. this is bloomberg. ? ? yousef: welcome back to the "best of bloomberg markets: middle east." dana gas seems to be going from creditors to debtors. bloomberg's tracy alloway has more from abu dhabi. tracy: dana gas is the only company i am aware of actively turning its lenders into debtors. that makes it possibly one of the most interesting stories and capital markets in general. the ceo used the occasion of the company's second-quarter earnings yesterday to really hammer home his argument regarding these. he said the $700 million worth of debt at the center of this dispute being held by investors, those investors would actually have to repay the company the excess amount of profit payments they had received. because these are sharia compliant bonds, they don't a out interest. instead, they pay out profit on the company assets. dana's arguments are because the bonds are not sharia compliant,

♪ yousef: welcome to "best of bloomberg markets: middle east."he major stories driving headline from the region this week, oil held losses around three-week lows as investors weigh expanding u.s. output against declining stockpiles. we breakdown second-quarter earnings as the numbers smash estimates. economists downgraded growth forecast for qatar as the three-month isolation takes its toll. saudi arabia makes a concession. we talked about the economic outlook for qatar with mohammed sergei. >> the selling points for qatar over the past come of years that as oil prices decline and affect all the countries in the reason, it appeared to grow faster than the reduced forecast of 2.5%. reason is that qatar is spending $2 billion on infrastructure upgrades to host the world cup, so that has moved the needle a little bit. the embargo has absolutely affected forecasts for this year. it is interesting to see how that will play forward that play out going forward -- layout going forward. shery: expectations are high for growth in 2018. are the expected the

the event happens august 26 at kenmore middle school.e the full video, go to our facebook page. they are really good sports. jonathan: i thought it was for swimming awareness. alison: i love the guy in the life preserver. jonathan: he's the best. i have to believe they are tormented around the department. alison: speaking of tormented -- jonathan: the redskins got tormented tonight. alison: i think so, erin? erin: synchronized swimmer. the redskins looked sluggish in their preseason opener. z2gv6z zi0z y2gv6y yi0y >> and now the toyota sports desk, brought to you by your local toyota dealers. erin: preseason game numero uno is in the books for the redskins. they looked rusty, lacked intensity, and you wonder how much they could have benefited from going up against another richmond during training camp, but i guess we will not know that. kirk cousins as a starter played drives. his first play was an incomplete pass. for fivefinished 1-2 wit yards with one sack. a disappointing moment when linebacker trent murphy went down with a knee spra

the trunk is 29 cubic feet, in the middle of our range. family on a trip might have trouble fitting everything in. there are other cars that are more powerful that look more distinct, but it is also really affordable, and audi is the sweet spot. so, how did it add up? the immediate response made me feel in control. the horsepower was a little weaker at 252, and the 22 miles per gallon means this is in the middle of the road. looks-wise, it was a bit conservative. it is the smallest of the three, but with a sleek interior. and the pricing is the best at $41,000. now, this is the bmw x5 hybrid. that means it gets 56 miles per gallon combined between the electric motor and conventional engine. this car starts at $62,000, right in the middle of our group. the electric motor and the engine switch off depending on what drive mode, how fast you are going, all of that. what you won't find out from the stats on the website is how big this car feels when you sit in it, and how small it drives. it is a nice balance. the interior is not as futuristic.

if you see the ball way up at the top in the middle.ll be a little bit tougher unless you are a real baseball fan, i think. 1946, he played for the detroit tigers. repeat that. >> hank greenberg. david: yes, thank you. how about this? this is at the kansas city stadium in 1961. anybody want to say who that person is on the right? >> charles finley? david: yes, that's exactly why i understand why they are booing because he moves them to oakland. he left the area without a baseball team. bess is keeping score. charlie finley is not a well-liked man here in kansas city. this is 1961, i have a guest back here -- ok, mickey mantle. who is the other person. >> [indiscernible] david: yes, very good. this is when they were in the home run race, see who could get the most home runs that year. >> the year that roger got 61. david: yes, there was. the baseball players the one on the right? this is october 3, 1952, the democratic rally in jefferson city. this is in correspondence, we have this signed by babe ruth, which is i'm sure is not -- i don'

foreign policy at least when it comes to who the real enemy is a middle east. some say it's the islamic state others say for example this week former secretary of state henry kissinger declared defeating the islamic state might lead to a quote radical iranian empire he notes the u.s. and russia partner with opposing sides in the middle east how do you assess his view and how much of it is based and a cold war era mentality. well it's certainly the kind of cool binary thinking that me so you know from one hundred forty five to one hundred ninety one but there's something quite i think a level and that needs to be pointed out you know mr kissinger who is developed you know an expertise in essentially dividing the world in order for the united states to emerge as the supreme power here utilizes if sectarian logic to understand the middle east in other words he is suggesting that isis somehow is the sunni champion which is an extraordinary part if you asked that i think sunni majority countries in the region including the kingdom of jordan i think they'd be quite s

and previously in the middle east as well of course thank you dan hawkins for. well let's get the latest developments in our breaking news story just to reiterate some of what dan was saying and what else we do know over the last number of hours authorities say thirteen people being killed over fifty injured after a van plowed into a crowd of pedestrians in the center of barcelona iran we're hours ago one suspect has been arrested the attack happened in the tourist area around five in the evening to the war in the images we're about to show you are highly disturbing. that was the scene in barcelona of hours ago when the reportedly drove five hundred meters down a pedestrian stretch of the road is of course pedestrian in the middle of love. and cars can go either side of the street police also say that fifty six people have been taken to hospital after the attack we do not know at this stage how many people are in critical condition if they are people are being advised to avoid the city center of course as we've been mentioning so many tourists there for the mont

we're seeing a lot of investment coming from europe and the middle east.n this part of the world is very stable going for it. tracy: i want to dig into the dubai property market in a moment. first, i am curious what other challenges you think could be affecting the gulf property sector. anas: pricing is a big challenge. we also have what we call the sustainable communities. some major parts of the middle east, some cities, are becoming big, and moving from one place to another is a hassle. that is why the trend is to have a sustainable community, it doesn't have to be a gated community, but you have the residential, sport and satellite amenities that come along with the residential component. i truly believe the trend is pricing, what we also call payment terms. a lot of people are calling for more aggressive payment terms. the shouldn't happen at cost of the quality. i think the product will be great. don't be excited about having a good payment term and you will get a shabby product of the and. tracy: what is driving the discounting behavior? more compet

middle of. the birthplace of. here at the dol chemical company in michigan revolutionary chemical killer. this is where agent orange was manufactured. its production created waste extremely high in dioxin. tao secretly dumped this waste into the river that flows through the city. in one thousand nine hundred ninety one man would discover the truth we had a conclusion there that it was a major source of not the only source to the river and certainly to the community and that people were at risk. at the time milton clark was a toxicologist for the e.p.a. the government agency responsible for environmental protection. with his colleagues he wrote a report condemning dallas practices. just blood right before the report's publication the corporation would succeed in pressuring the acting chief of the e.p.a. in washington. we went into shock we had never heard of such a thing ever but the company that we were regulating they would have the right to review a report comment on it before it's released and what did they ask

no, no, no, cut the steak in the middle. check the temperature from the middle of the steak.o take home leftovers. these are big steaks. if you don't eat them, i might. most important, when you come to a steakhouse, remember that animals gave up their lives for you to enjoy these beautiful cuts of meat, so you should enjoy them and respect them along the way. ♪ >> to close out "bloomberg pursuits," a regular series we call "made." because to truly appreciate an object of luxury, you have to understand how it comes to be and to journey to the workshop where it comes to life. ♪ >> quite often i have been driving down some highway and i will see a road that juts off that highway and wonder, where does that road go? ♪ >> travel is extremely important. it is not a luxury. it is a necessity. i feel getting out into the middle of nowhere helps you recharge. ♪ >> my name is britton purser. i own a company called vintage overland. we build teardrop camp trailers. we being my two younger brothers and myself. and we are located in grand junction, colorado. ♪ >> this is britton's busines