they design them in california, butles where joplin so the idea that it should all accrue to the u.s. doesn't make sense joplin it really does have to be simplified. >> it's a global economy joplin maybe we can get you down with john mccain joplin now, we have more evidence. there is room for the bulls to run. . or having cut costs. they're the result of better tax efficiency, better technological efficiency and lower interest costs because the debt rates are so low. >> the tax thing is fascinating to me. not just because i'm supply side of it. they're saying, what the studies say, doing business oversees. >> that's right. >> what we were saying. >> and apple being good at avoiding taxes. >> that's the deal. if you take out energy an technology the two wide margin i guess and maybe banks, too, if you take out energy and technology, these studies say, you are really not that far from the mean, 65 basis points, less than 1%. your comment. >> that's right. i think more broadly, we are still above the mean, even if you look at it that way. i think what has to happen to get the economy cra