the answer to the cayman islands question is the beaches. romaine: nothing to see here except the beaches. caroline: nothing to see here when it comes to dogecoin. on markets on fire. bank of america seeing jp morgan yesterday and saying i will raise. kriti: a $15 billion deal out of bank of america after a year of ecker -- eckerd -- records. last year i think the issuance was raising cash, corporate america needed that cash, you needed it to shore up there balance sheets and get cash cushions. now it seems to be about where people think rates are going and jp morgan and bank of america issued those bonds. comes after earnings that begged the question how many other members of corporate america are going to be following suit and getting that last far waiting --far-wing abililty? romaine: europe to wonder where is the cash, a lot of companies are still sitting on it. you would think that would be a good but we were talking earlier, there has been concern about -- the bloom is off the rose for a lot of these countries -- companies. kriti: it h

have our 3 banks all set up something in your something in america or something overseas or the cayman islands or the real world these banks are complicit in their tough talk or see just after all it's a need to do some serious money laundering ok let's see how we did while we've got a nice luxury watch for max and for stacy old beautiful jewelry and how about. our luxury on one bill from that you know what money laundering highly illegal. watch has a record. this is a boom bust so one business show you can't afford to miss and washington coming up for the big point rally rages on as its price has been driven even higher by the wall street debut of point b. straight ahead we break down the price spike and what the listing means for the fin tech sector a lot in the wake of china's crackdown on ali baba the nation is issuing a warning to its other major tech firms they have to we'll take a look at china's latest moves and the reasons behind the nation's pressure play and later in a year of coping 1000 economic uncertainty that has seen millions of workers lose their jobs well c.e.o. pay has soar

or the other cayman islands out there, right?: to a certain extent, you mentioned kevin brady, the top republican on ways and means, but how much do republicans actually matter in this debate? they've already been very clear they don't want to see a change in taxes from what they put forward in 2017. at this point, the question isn't so much can we get republicans on board. the question is can democrats actually stay together on this proposal, and that includes the very progressive democrats and the very moderate democrats. jonathan: the president has shown little interest in a united congress. he talked about uniting the country. how do these proposals play up with the country, with the electorate in polling? emily: raising taxes plays out into different ways. you do see -- in two different ways. you do see concern. the idea of raising taxes has long not been politically popular, so the goal for president biden is to talk about the message is raising taxes on the wealthy. i think that has a much different perception and opinion

banks all set up here maybe something in europe something in america something overseas in the cayman islands or do we do all these banks are complicit in the kleptocracy we just have to deal with both and say ok i'm ready to do some serious move under ok let's see how we did while we've got a little got a nice laundry watch for max and for stacy old beautiful jewelry and how about put on luxury automobile again for max they know what money laundering is highly illegal to appear for a watch guys record. today the industry prefers to spend millions of euros in you know the d.-day regulations will be sniffy is all about making money making profits in some of the corporations international markets import export do you imagine the number of currently diseases that are out in every community today it is not due to new viruses or all new microbes that is not true so it is due to environment. not going to say you know the momentum is simply that this sort of muscles obviously just accumulate could only come in to see in them to be. deployed. if the so food industry is successful it will create more

that means companies will not be able to hide their income in places like the cayman islands and bermuda. we will eliminate deductions used by corporations for off shoring jobs and shifting assets overseas. they shift assets overseas and don't have to pay taxes on all they make there. we will significantly ramp up irs enforcement against corporations and the super wealthy who either failed to report their income or underreport it. that will raise tens of billions of dollars. it adds up to more than what i proposed in just 15 years. it is honest, it is fair, it is fiscally responsible, and it pays for what we need and reduces debt over the long haul. by the way, i did not hear our friends criticizing this plan say the corporate tax cut, which added two trillion dollars of debt, the trump tax cut, $2 trillion, $1.9 trillion in debt, was not paid for. the vast majority of which went to the top 1% of the wage earners. i did not hear anybody hollering in this recovery before i became president, this k-shaped recovery, where billionaires made 300 billion more dollars during this. . -- this per

banks all set up here maybe something in your something in america something overseas in the cayman islands and it will go to these banks are complicit in their tough talk or says we just have to give much gold and say ok i'm going to do some serious injury ok let's see how we did while we've got a national dream watch for max and for stacy oh beautiful jewelry and how about. luxury automobile again for max they know what money laundering highly. watch cars record. so what we've got to do is identify the threats that we have it's crazy on sunday shouldn't let it be an arms race is on off and spearing dramatic development only personally i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk. the world is driven by a dream shaped by one person. in the day or thinks. we dare to ask. to live with us you will pull sorts of little just holes of turning around sheer calm just like the kids story holly to get by with. in a keynote a state of the nation address president putin compares western attacks on the russia to just goals in iraq the

in the cayman islands. and they benefit from tax loopholes and deductions. for offshoring jobs and shifting profits overseas. it's not right. we're going to reform corporate taxes. so they pay their fair share and help pay for the public investments. their businesses will benefit from as well. we're going to reward work, not just wealth. we take the top tax bracket. for the wealthiest one percent of americans. those making over $400,000 or more. back up to where it was when george w was president. we started. 39.6%. that's your was one. george w was preston. we're going to get rid of the loopholes, allow americans to make more than a million dollars a year. and pay a lower tax rate. on their capital gains. and americans who receive a paycheck. really going to affect 3 tenths of one percent of all americans by that actually 3 tenths of one percent. and there been a crackdown on millionaires and billionaires who cheat on their taxes. it's estimated to be billions of dollars. i think tanks are left, right and center. i'm looking to punish anybody. but i will no

something overseas in the cayman islands do all these banks are complicit in the kleptocracy you just have to deal with all and say ok i'm ready to do some serious move under ok let's see how we did while we've got a nice luxury watch for max and for stacy old beautiful jewelry and how about. luxury automobile again from that you know what money laundering is highly. watched keyser of course. the world is driven by shaped by one person. who dares thinks. we dare to ask. it's been decades since the fall of spain's fascist regime but old wounds still haven't. come up until the mid twenty's and that's. because so many from you know. me cold feet a market economy. the me on the bus at the system you know what i'm interested they seem cause me to you know. have newborn babies were torn from their mothers and given away and forced adoption i don't only want to feel that i don't grow up or there's a feeling element to this day mothers still search for grown children while adults look in hope for their parents. and family hasn't necessarily understand why. chosen to come back and stay and you

a lot of companies also have a taxes through tax savings in switzerland remuda and the cayman islands. and they benefit from tax loopholes and deductions for offshoring jobs and shifting profits overseas it's not right we're going to reform corporate taxes so they pay their fair share and help pay for the public investments their businesses will benefit from as well thanks for going to reward work not just wealth. we take the top tax bracket for the wealthiest one percent of americans those making over $400000.00 or more back up to where it was when george w. bush was president when he started 39.6 percent that's where it was when george w. was pressing. we're going to get rid of the loopholes while america has to make more than a $1000000.00 a year. and pay a lower tax rate on their capital gains in americans who receive a paycheck. we're only going to affect 3 tenths of one percent of all americans by that action 3 tenths of one percent. and they're actually going to crack down on millionaires and billionaires who cheat on their taxes. it's estimated to be billions of dollars by thi

kerry 1st to visit this maybe something to do something in america something over the cayman islands or do we do all these banks are complicit in their. goal and say hey i'm ready to do some suze money laundering ok let's see how we do well we've got a little got a nice watch for max and for stacy oh beautiful jewelry how about. a luxury automobile for a mac. do you know what money laundering is highly illegal to watch guys record. the world is driven by dreamers shaped by 10 percent of those with. the dares thinks. we dare to ask. politicians play shushi will the new problems yob with problem has not yet born because we're still gotta leave the illusion to social thing took place with him you're still me i'm a chip just a little son marco with the bow washing machine when you scheme which little. you're just bluer than was mrs lawyer in milwaukee.

our 3 banks all set up maybe something in europe something in america something overseas in the cayman islands and it will do all these banks are complicit in their club backcrosses we just have to deal with both and say ok i'm ready to do some serious money laundering ok let's see how we did while we've got all got a national dream watch for max and for stacy oh beautiful jewelry how about. home luxury automobile again for a match they know what money laundering is highly illegal don't be a close watch guys record. is your media a reflection of reality. in a world transformed. what will make you feel safe. high salacious community. are you going the right way or are you being led. away. what is true. is faith. in the world corrupted you need to descend. to join us in the depths. or a made in the shallows. psychiatric drugs are essential for millions of patients rather they want that pill that they hope will take care of their problem thoroughly and rapidly in the short term they really work the problem is in the long term and mostly disastrous suddenly stopping a drug can cause withdrawal sym

something in your something in america something over the cayman islands and it will pull these banksare complicit in there. to do some serious wounds are ok let's see how we did well we've. come. from that you know what money laundering is highly illegal. as a record. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. spearing dramatic probably the only move. i don't see how that strategy will be very critical. to sit down and talk. welcome back the weekly who watch march international now there has been a full week of angry unrest in the u.s. state of minnesota it follows last sunday's fatal shooting by police of dante right right officers have been resorting to tear gas and rubber bullets to disperse protesters there. but there. you're. right that. brooklyn center police claim dante wright died as a result of an accidental discharge after an officer mistook her gun for a taser mr wright had attempted to flee in his car after being stopped for a traffic violation subsequent protests soon descended into looting and violent clashes with po

have our 3 banks all set up here maybe something you're going to america something overseas or cayman island you do know all these banks are complicit in the act of piracy we just have to deal with all of them ready to do some serious money laundering ok let's see how we did while we've got a national dream for max and for stacey old beautiful jewelry and how about. carlos diaz bill again for a match you know what money laundering is. much better of course. welcome to cross talk where all things are considered i'm peter lavelle to remind you we're discussing ukraine. go back to gabriel here in moscow gabriel it i find it rather odd in many ways is that if you indeed ukraine is pushing there's a landscape which essentially was elected as a. compromise figure a pretty good they could reach out to russian speakers in the east of the country and even maybe some kind of negotiated settlement with russia amazing how things have changed haven't they and now you know he signs this presidential directive that i just pointed out in the beginning of our program and. he seems to be a war hawk right now

banks all set up here maybe something in your something in america something overseas in the cayman islands or do we do all these banks are complicit in the kleptocracy we just have to give him a call and say hey i'm ready to do some serious money laundering ok let's see how we did well we've got a nice luxury watch for max and for stacy oh beautiful jewelry how about. luxury automobile again for max you know what money laundering is highly illegal thank you so much guys of course. segregated. by social class. people also in poverty by 1st. if you're born into a poor family ocular born into a minority family if you're born into a family that only has a single parent that really constrains your life chances people die on average 15 years old if you're born into generational poverty. it's a tough tough fight every day to meet your needs and the needs of your family. the world is driven by shaped by those. who dares thinks. we dare to ask. problem drugs don't do is come from i'm scrupulous dealers but from pharmacies to in every state in the united states we see me very sharp increase in the n

we have our 3 banks all set up for something and you're something in america something over the cayman island to do all these banks are complicit in their tough talk just after all and say hey i'm ready to do some serious money laundering ok let's see how we did while we've got a nice luxury watch for max and for stacy oh beautiful jewelry how about. luxury automobile again for a mac. you know what money laundering is highly. watched kaiser of course. greetings and salutation all right everybody let's start today off with a little story on money in politics yeah it's one of the oldest stories in the history of humanity since the moment society 1st decided to you know organize itself and those with wealth and means have spent gifted and bribed those in leadership often successfully 0 in effort to maintain and enlarge or gorge their bast sums of money and power this song and dance of political bribery by those with means cuts through all political affiliations and parties from democracy to communism theologies to monarchies to socialism to colonialism all throughout history those things have be

and the people of the cayman islands that they were descended from pirates, and that he would like tohalf my family." well, mr speaker, the world did not hold it against him. the duke was a funny, engaging, warm and loving man. he loved to paint, his work has been described characteristically as "totally direct", "no hanging about", "strong colours", "vigorous brushstrokes". he was also a great lover of political cartoons, not something the prime minister and i can say that often. although i saw a cartoon this weekend that i think captured this moment of national and personal loss perfectly. it depicted her majesty dressed in black looking back at her shadow and seeing the duke standing there, as ever at her side, attentive, and holding her hand. mr speaker, britain will not be the same in his absence. throughout the years, i think it's fair to say. that he wasn't the man for drizzling honey- in his words. that trait he coolly applied to the advice he gave - and there was one memorable piece of advice he gave - on the length of speeches, - which i dare say some members might even thin

banks all set up here maybe something in your something in america something overseas in the cayman islands or the oh well these banks are complicit in the kleptocracy we just have to look at all it's a need to do some serious muhlenberg ok let's see how we did well we've got a nice luxury watch for max and for stacy old beautiful jewelry and how about. luxury on a bill again for max you know what money laundering is highly illegal here for a lot of course. folks next up on that a similar question why we got a great comedian he's got a 2nd netflix special called the greatest average american that i know we perceive themselves as that except the greatest average american doesn't usually get a 2nd that pluck special the reason he did is because he has i find it really area die perceptive takes on contemporary american life nate barnett see and he's right after this dennis miller plus what. hey folks welcome to dennis miller plus one and it's a because i admire this guy's chops and i saw a special how to flush out the name for me was tennessee kid i think maybe in the last year or 2 and has so

banks all set up here maybe something in your something in america something overseas in the cayman islands or do we do all these banks are complicit in their tough talk received a softer didn't call and say hey i'm ready to do some serious money laundering ok let's see how we did while we've got a nice laundry watch for max and for stacy oh beautiful jewelry how about. luxury automobile again for max they know what money laundering is highly illegal. much keyser of course. psychiatric drugs are essential for millions of patients rather they want that pill that they hope will take care of their problem thoroughly and rapidly in the short term they really work the problem is in the long term they're mostly disastrous suddenly stopping a drug can cause withdrawal symptoms more serious than the condition it was meant to treat instead of the beneficial effects of these different medicines early up to something wonderful very often there or for a fix it up to something terrible until solve all ills are always trying to mitigate life itself i just think i was in like i was just scared me i was a

you may have to pay some fees to get out of the united states, but you can move to the cayman islands or bermuda or someplace else that decided to have a 5% corporate tax rate. there is really not much you can do about it. if you attack them, put attacks on with the export and so forth, you violate international law. you violate the wto agreements. i just don't see this as a starter. it is the sort of thing i would get in a case study for a first-year mba student and would say, go through this drill and rewrite the paper. i don't mean to be bipartisan. some of the proposals that were authored by the trump administration. part of the high-tech companies, they were equally ludicrous. i am starting to wonder what they do over at the treasury department. host: as far as the political side, what do you think that move does as far as democrats who don't want to be at that high? guest: night you're getting close to not wanting to do that. i'm not a broadsheet like the new york times or newsmax. let's pretend i am. then you can say, they say this will make us competitive by going to 20%. i th

banks all set up here maybe something in europe something in america something overseas in the cayman islands or do we do all these banks are complicit in their tough talk received a softer give mccoll and say hey i'm ready to do some serious money laundering ok let's see how we did while we've got a national dream watch for max and for stacy oh beautiful jewelry how about. luxury automobile again for max you know what money laundering is highly illegal. much keyser of course. now things don't always go as planned sometimes emergency situations happen under a here's my question there's a famous photo of ruckus of cutting out his own appendix in the antarctic is such a situation possible and i assess i doubt an appendix operation is possible on the international space station but the one with the real medical training will correct me but what if the return flight is just too big a risk what if the situation is super serious and the problem yes that what at that well i think that decision will be made by the command center on earth where to operate one of our american colleagues on our 1st flig

that numbers like those you just quoted are also hidden as a matter of course in tax havens the cayman islands luxembourg the stories go on and on if you add up the the laws that they've changed what they're lobbyist so that they can take the doctrines and the exemptions and the offshore hot and the high eating i mean yes they're getting away with bloody murder paying taxes while they pay themselves bigger money and this thing is now you can't really point that this one or that one it's a systemic problem they're all with a few exceptions but they're all in this again they justify their increases by pointing to somebody else who got an increase and so you get this crazy disconnect professor richard walsh host of economic update thank you so much for your insight today. thank you. and finally trading card in collectible maker tops is getting into the world of non fungible tokens now the company will launch its 1st editor ever n f t baseball card collection on the 20th of april the digital cards which have been approved by major league baseball are digitally enhanced and creatively reimagine fro

well we have our 3 banks all set up something in your something in america something over the cayman islands and it will hold these banks are complicit. just . to do some serious money laundering ok let's see how we did while we. watch for. jewelry and how. do you know what money you want to hire. so if someone wants to authorize a product in europe let's say a plant protection product. because these personal discomfort and the applicant has to provide data. as the risk is says those where this product is safe. and this information comes from the applicant and the studies.

banks all set up here maybe something in your something in america something overseas in the cayman islands or do we do all these banks are complicit in the tough talk or say we just have to give my phone and say hey i'm ready to do some serious money laundering ok let's see how we did always get out and i still dream watch for max and for stacy oh beautiful jewelry and how about. luxury on a bill again from that hey you know what money laundering is highly illegal don't be a close watch guys record. it's been decades since the fall of spain's fascist regime but old wounds still haven't tailed. me from. the bottom is above all. of us at the source mean they were the ones that they seem caught in which we know. of newborn babies were torn from their mothers and given away and forced adoption. to this day mothers still search for grown children. for their parents. we've turned a corner in managing the code 19 threat across america but by the administration continues to be diligent in making sure that the vaccine is available without limitation this week 19 vaccination appointments became open

you can move to the cayman islands or bermuda. it's that simple. there is not much you can do about it. if you put a tax on what they export, you violate international law. i just don't see this as a starter. it's the sort of thing i don't see this as a starter, i would go to this to rewrite the paper. i'm wondering what is going on over the treasury department and i don't mean to be bipartisan and some of the proposals argued by the trip administration for example the teva, based and come to an agreement and build big high-tech companies, we are equally ludicrous. i am reallyy starting to wonder what would they do with the treasury department. >> as far as the political side we heard senator joe manchin speak out against the idea of raising the taxes, what do you think that move does as other democrats who may not want to see it that high in particular amongst republican to don't want to see it got high. >> now there may be a political motivation and it requires physique to do that, and thehe w york times or newsmax or what have you. but let's pre

cayman island to do all these. to do some serious moon ok let's see how we did while we. all beautiful jewelry. for you know what money laundering is highly. so what we've got to do is identify the threats that we have. let it be an arms race. here in dramatic development only. i don't see how. very. you sit down and talk. back to the program a connection between the vaccine and blood clots exists yet its cause is yet to be defined as the research funding from top officials at the european medicines agency live now to show to do for an update on what's been going on there in paris charlotte just let us more about the indictment is now facing. well this is perhaps the most damning indictment that has been made against astra zeneca to date this comes from the european medicines agency is one of their top officials he's given an interview saying that in his opinion there is a clear association between astra zeneca and some red types over blood clotting pacifically blood clotting in the brain and this is a cover larry who has given this interview and he says that the cases of

banks all set up here maybe something in europe something in america something overseas in the cayman islands or do we know all these banks are complicit in the tough talk or soon we just have to deal with all and say ok i'm ready to do some serious money laundering ok let's see how we did while we've got a look at a nice luxury plot for max and for stacey old beautiful jewelry and how about. luxury automobile again for a mass you know what money laundering is highly illegal don't be a close watch guys record. the world is driven by a dream shaped by one person. who dares thinks. we dare to ask. the growing calls for stricter gun control measures in the u.s. are getting louder and louder as a weekend of mass shootings left several did the us reporting at least $45.00 just last month president biden is a clearing mass shootings in this country as an embarrassing epidemic tranny shop is has the latest from new york. in the coronavirus pandemic and now experts are warning of another pandemic gun violence in america gun violence in this country and the u.s. reporting a total of $147.00 mass shoot

our 3 banks all set up for something and you're something in america something overseas or the cayman islands do all these banks are complicit in their tough talk or soon just after didn't fall and say ok i'm ready to do some serious. ok let's see how we did while we've got a national dream watch for max and for stacy oh beautiful jewelry how about. luxury automobile again from that you know what money laundering is highly illegal thank you so much kaiser of course. we are segregated in there by social class most of the class people don't you also want to be the 1st. if you're born into a poor family if you're born into a minority family if you're born into a family that only has a single parent that really constrains your life chances people die and they stick teen years younger you're born into generational poverty. it's a. fight every day to meet your needs and the needs of your family. but by an administration is moving full speed ahead with its plans for a $2.00 trillion dollar spending bill while it claims the funding would meet infrastructure concerns across the country its critics say

banks all set up here maybe something in your something in america something overseas in the cayman islands or do we do all these banks are complicit in their tough talk received a soft coal and say hey i'm ready to do some serious money laundering ok let's see how we did while we've got home got a nice laundry watch for max and for stacy oh beautiful jewelry how about. luxury automobile from that you know what money laundering is highly illegal here for a watch guys record. we're segregated. by social class. people also in poverty by 1st. if you're born into a poor family i born into a minority family if you're born into a family that only has a single parent that really constrains your life chances people die on average to 15 years old if you're born into generational poverty. it's a tough fight every day to meet your needs and the needs of your family. was a pandemic no certainly no borders and is blind to nationalities. has emerged we don't come with you we don't look back seem world needs to be. judged as comedy crisis what is the system to modern times we can do better we should. ever

"and do you have any proof that your company really operates out of the cayman islands?" ( guy ) "uh, i have this seashell." (i.r.s.) "okay, i get it! no need to bury us in all this paperwork. i get it. put the shell away. i get it." so i'm glad they're trying to force corporations to pay their fair share. but this is only going to work if you get all the countries to agree to it. it's like bars in a college town-- if there's one of them not checking i.d.s, that's where the party's at. honestly, i don't even know if getting all the countries on earth is even enough. i mean, why do you think elon musk and jeff bezos want to get to mars so bad? it's not to advance human knowledge. they just want to set up a p.o. box, baby. and, finally, let's pour out a 40-gigabyte bottle for an old internet friend who is soon to be no more. >> it's the end of an era. "yahoo answers" announced it will be shutting down on may 4. users won't be able to post any new questions or answers after april 20. the move ends the 16-year reign of one of the internet's longest running question-and- answe

there's no difference between what they are doing in the cayman islands, frankly.rt of the same story of how to pay for all of this debt. we are talking about how high rates of borrowing costs can go in order to make this all sustainable. he is saying if we remain below 3%, we are ok. what happens if the bond vigilantes come back? tom: i would say fed expectations have really shifted in the last number of weeks, making that april 28 meeting ever more important. coming up in one of -- coming up in the next hour, do you root for the white sox or the cubs, or do you root for the cardinals? that is the choice of the 13th congressional district of illinois. rodney davis will join us, republican of illinois. good morning. this is bloomberg. ♪ ritika: president haydn now wan -- president biden reportedly now wants to move up his date for all aleuts in the u.s. to be eligible for the vaccine to -- all adults in the u.s. to be eligible for the vaccine by april 19. iran and world powers have begun their most serious attempt yet to revive that troubled nuclear deal, and for t

companies both more competitive overseas and prevent them from channeling their earning through the cayman islandsher low-tax jurisdictions. right now, the gilti rate is 10.5%. biden plans to double that to 21%. because companies can deduct only a portion of the taxes they pay to other governments, the effective tax rate would be 26%. critics say that would put u.s. companies at a disadvantage to foreign competitors and would lead to more inversions and foreign takeovers. a lot of that we saw at the end of the obama administration. but supporters say the current rate is too low and doesn't generate enough revenue. the tax policy center estimating that biden's rate would cost companies an extra $650 billion over ten years much of that coming from big tech giants like apple, facebook, yes, amazon, the big pharma companies and the big media companies. so, we saw you mentioned earlier, dom, jeff bezos praising the effort to raise that top tax rate. he hasn't said and probably won't say anything about foreign earnings because they are crucial, not just to amazon but the other big tech companies so you

that means that companies will not be able to hide their income in places like the cayman islands and bermuda. also eliminated deductions yew by corporations for offshoring jobs and shifting assets overseas. they shift overseas and then don't have to pay taxes on all that they makes there. we'll significantly ramp up i.r.s. enforcement against corporations or the super-wealthy who fail to report income or under-report it. it's estimated it could raise tens of billions of dollars. just 15 years. it's honest, it's fair, it's m fiscally response. it pays for what we need and reduces the debt over the long haul. by the way, i don't hear any of our fans criticizing the play, that the corporate tax cut, the trump tax cut, added $2 trillion, $1.9 trillion to the debt, the vast majority went to 1% of the top wage earners. i didn't hear anybody holler in this recovery, this k-shaped recovery where billionaires made $300 billion more during this period. where is the outrage there? i'm not trying to punish anybody, but damnit, maybe it's because i come from a middle-class neighborhood, i'm sick

also reviewed tax in switzerland, the cayman islands. and they benefit from tax loopholes for having offshore jobs and shifting profits overseas. it is not right. we are going to reform corporate taxes so they pay their fair share and help pay for the public investments their businesses will benefit from as well. [applause] we are going to reward work, not just wealth. we take the top tax bracket for the wealthiest 1% of americans, those making over $400,000 or more, back to what it was when george w bush was president, 30 9.6%. that's when it was when he was president. we are going to get rid of the loopholes that allow americans to make more than a million dollars a year and pay a lower tax rate on capital gains than americans who receive a paycheck. we are only going to affect 3/10 of 1% -- white 3% -- .3% of americans. it will crackdown on america -- millionaires and billionaires who cheat on their taxes. -- i am not looking to punish anybody. but i will not add a tax burden, an additional tax burden to the middle class in this count

it means that companies aren't going to be able to hide their income in places like the cayman islands and bermuda in tax savings. we're also going to eliminate deductions used by corporations for offshoring jobs and shifting assets overseas. they offshore the jobs, shift the assets overseas and then don't have to pay taxes on all they make there. and we'll significantly ramp up irs enforcement against corporations and the super wealthy who fail to report their income or underreport it. that would raise tens of billions of dollars. it adds up to more than what i proposed in just 15 years. it's honest, it's fair, it's fiscally responsible. and it pays for what we need and reduces the debt over the long haul. by the way, i didn't hear any of our friends who were criticizing this plan say that the corporate tax cut which added $2 trillion to the debt, the trump tax cut, 2 trillion, $1.9 trillion in debt, wasn't paid for. the vast majority of which went to the top 1% of the wage earners. i didn't hear anybody hollering in this recovery, so-called, before i became president, this k-shaped r