first we have got your dan mitchell senior fellow at the cato institute. he was a senior fellow before he lost his leg went to work for that other think tank. he previously worked for senator bob packwood before he was chairman of the senate finance committee and once one of the tireless advocate for economic freedom. stephen is a senior fellow at the tax foundation. cns colleagues at the tax foundation have created the best and most transparent tax model in the country. prior to joining the tax foundation he was for many years at the institute for research on the economics of taxation. it is also deputy assistant secretary for economic policy during the reagan administration and worked for the jac and cap commission. dr. jason stegner is a senior research fellow and also an adjunct professor at georgetown, johns hopkins school of international studies and the virginia tech center for public administration and policy. jason was explaining to me before we came here and i'm hoping we will have our similar area day presentations. jason served as deputy commis

[applause] john: chris adverts and dan mitchell.ne much more optimistic about the american dream than i am. good for him. usaa makes me feel like i'm a car buying expert in no time at all. there was no stress. it was in and out. if i buy a car through usaa, i know i'm getting a fair price. we realized, okay, this not only could be convenient we could save a lot of money. i was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. and it was just easy. usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app. john: we are at freedom fest to talk about the american dream house government often kills us as it does it keeps growing and it depresses me bed grover norquist keeps smiling president for americans for tax reform has fought that tax simplification for 30 years and you have failed. is less simple than it ever was taxes are higher why are you so cheerful? >> the majority of the members of that task -- of the house we

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[applause] john: chris adverts and dan mitchell.ne much more optimistic about the american dream than i am. good for him.@? john: we are at freedom fest to talk about the american dream house government often kills us as it does it keeps growing and it depresses me bed grover norquist keeps smiling president for americans for tax reform has fought that tax simplification for 30 years and you have failed. is less simple than it ever was taxes are higher why are you so cheerful? >> the majority of the members of that task -- of the house we have not had a tax increase as long as the republicans controlled the house we stopped the bleeding as long as they can hold up one part of the government. obama what did trillions of higher taxes and republicans said no tax increase period we have to run a half trillion of spending restraint with 23 percent of gdp that is the federal government to stop the bleeding and it takes new leadership. john: politician say we have to get rid of this. >> is the one big victory the american people have again

[applause] john: chris adverts and dan mitchell.eone much more optimistic about the american dream than i am. good for him. john: we are at freedom fest to talk about the american dream house government often kills us as it does it keeps growing and it depresses me bed grover norquist keeps smiling president for americans for tax reform has fought that tax simplification for 30 years and you have failed. is less simple than it ever was taxes are higher why are you so cheerful? >> the majority of the members of that task -- of the house we have not had a tax increase as long as the republicans controlled the house we stopped the bleeding as long as they can hold up one part of the government. obama what did trillions of higher taxes and republicans said no tax increase period we have to run a half trillion of spending restraint with 23 percent of gdp that is the federal government to stop the bleeding and it takes new leadership. john: politician say we have to get rid of this. >> is the one big victory the american people have again

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we're going to go in the order that people are seated, and please join me in welcoming dan mitchell. mitchell. >> let's just do this sitting down. i think that might make more sense than people getting up and down. thank you, david, for introducing the panel. and it's good to be back here at heritage. i used to represent the conservative wing of the heritage foundation during my days. i'm glad now that you're upholding that important role. i want to make one basic comment, that i think underscores the importance of everything we're going to be talking about. and you sort of got this of course, from alvin, and you'll hear it later on today as well. but tax rates matter. and while what really frustrates me is politicians understand us when they want to. a lot of times we see politicians, federal state, local level banging their fists saying we need higher taxes on tobacco because we want people to smoke less. i'm a libertarian think tank. i don't think it's government job to try to control our choices. but i give those politicians an a-plus for economics because they're right. the highe

for more eviction, let's bring in dan mitchell, we also have alan of bulls eye options. e start with you. and amy just told us that we were thinking a while ago that this vote was not going to get donnas midnight. and we have 25 minutes now and the latest intelligence is it will. and what happens next? >> i think the answer is yes because if they vote "no," it means they don't get more bailout. and all these looters who are rioting in the streets of athens, if there's no more bailout, there's even more ostator. -- austerity, so what you're seeing is a temper tantrum that you can't consume what you don't produce. . melissa: do you agree with that? >> well, i'm not going to get into the politics. i'm a price action guy. and the markets haven't been impacted by this at all. you can see the stock market took a breather there, but we're still close to the normally. and we've got good earnings out of intel and netflix, and that's what's driving the markets. it's driven by the earnings. that's more important. but if there is a major surprise, if the market hasn't priced in, we'l

dan mitchell. he's a senior fellow at the cato institute. he was a senior fellow here at the a senior fellow at the heritage foundation before he lost his way and went to work for that other think tank. he previously worked for senator bob packwood i believe before he was chairman of the senate finance committee and he's one of the nation's leading propopents of a flat tax and a tireless advocate for economic freedom. stephen enton is senior fellow at the tax foundation. he and his colleagues at the tax foundation have created the best and most transparent tax model in the country. prior to joining the tax foundation he was, for many years, with the research institute of the economics on taxation working with dr. norman toure and he was deputy assistant secretary of the treasury department during the reagan administration and worked for both the jec and the kim commission. dr. jason figner is senior research fellow at the percado center and professor of economics at georgetown and the johns hopkins of advanced international studies and the v

dan mitchell has been talking about about this for a long, long time.ot necessarily saying that everything china has turned out is a lie. but it is a lot of assad going on here. what do you make eve these latest revelations? >> chinese government is making a big mistake in prevents prices from going to their market clearing levels. china has had a problem that may made economic reforms few decades ago but a state driven economy. they only rank 115 out of 152 for economic freedom. and their financial system is very nontransparent with a lot of government own od companies and so-called prince getting favorable treatment so nobody really knows what the price it is are. nobody trust the financial system and having the chinese government come in and try to prop up it. it is going to extend pain and cause more uncertainty. >> you know i've noted to viewers to talk about this. but my market has been maybe because of a contrary i have parish or wonder i turn both. here's my qualm with china it is too pest. growing at 10%, 13% a buyers market for anything and a

and i don't think any of us dan mitchell or myself are going to persuade those people. they have hard core distributionists. but the reason i'm optimistic is that if you talk about the base voters and working class americans, they do get this, don't you think? they understand if you tax the employer less money for hiring more workers and so on. it seems like we need to do a better job of communicating that message. i don't see the american people at 70% or 80% tax rates. >> no i think you're completely right. and remember, the republican party does not have a leader. as soon as reagan was nominated in 1980, he was the leader and all of everyone lined up behind him. you can't believe the power of once the republicans have a nominee and that nominee is the leader of the conventionist you'll find all these dis-pratt sort of trying to herd cats as they say it they'll all come behind the line and you'll see the republican party speaking with one voice. >> right now, it's hard to discern what's going on in the republican party with -- how many candidates are there? when the e

i don't think any of us, dan mitchell or myself or art laffer will persuade those people. they are hardcore, income redistributionists. they drink that koolaid but, the reason i'm optimistic. i wonder if you agree with, if you talk about the base voters in democratic party, working class americans they do get this, don'ts you think? they understand the importance of tax rate. they understand if you tax the employer there is less money for hiring more workers. seems like we need to do better job communicating that message. but i just don't see the american people in favor of 70, 80% tax rates do you. >> no. i think you're completely right on this thing, steve. also remember the republican party does not have a leader. so they don't speak with one voice. as soon as reagan was nominated in 1980, he was the leader and all of everyone lined up behind him. you can't believe the power of once the republicans have a nominee, and that nominee is the leader of the convention is set you will find all these disparate, trying to herd cats, they will come behind the line. the republican

i don't think any of us, dan mitchell myself, or arthur are going to change those people, they are hard-core distributionists. they drink that kool-aid. the reason i'm optimistic, can i wonder if you would agree with that, you talk about the base voters of the democratic party, working-class americans they do get this don't you think? they understand the importance of tax rate understand if you tax the employer there's less money for hiring more workers and so on. team seams like we need to do a better job of communicating that message, but i just don't see the american people in favor of 78% tax rate do you? >> no, i think you're completely right on this thing, also remember that the republican party does not have a leader. so they don't speak with one voice. as long as reagan was nominated in 1980, he was the leader and all of everyone lined up behind him. you can't believe the power of once the republicans have a nominee that nominee is the leader, the convention is set you'll find all of these disper ate, trying to herd cats, as they say come behind the line, you'll see the republican pa

please join me in welcoming dan mitchell. [applause] >> let's just do this sitting down.ht make more sense. thank you for introducing the panel. it isit is good to be back here at heritage. i used to represent the conservative wing, but i'm glad that you are reporting that important role. i want to make one basic comment that i think underscores the importance of everything we will be talking about, and you sort of got this from alvin and you will here later on today as well. tax rates matter. and what really frustrates me is that politicians understand this when they want to. a lot of times we see politicians federal federal, state, local level playing their 1st saying we need higher taxes on tobacco because we want people the smokeless. i am at a libertarian think tank. i don't think it's governments job but i give those politicians and a+ for economics. they're right. the higher the tax you put on something the less your going to get a bit. you also get cigarette smuggling, but the fundamental economic.is right. high tax rates discourage what is being taxed. many of th

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