if we're looking at a product in mexico, france or germany, we want to be on a level playing field so we can win our share of those projects. we have our r&d in new york. that offshore growth comes back here to the u.s. so it's important for us to remain competitive on offshore projects. >> thank you all for being here today. first, appreciate the chairman holding this hearing. secondly, i think the draft proposal on territorial and lower rates the way it was laid out has been very positive and helpful movement towards fundamental tax reform. all the witnesses today have really opened up a lot of questions on how we move forward and doing it with the most pro growth impact, weighing both the book and the accounting tax-type requirements you're under. both of you rightly make the case that in addition to lowering the corporate tax rate that there is is need for capital investment incentives. and you're willing to put erg on the table, but recognize looking at the last 40 or 50 years, the single strongest correlating driver for new jobs, you know, is private business investment. you're

so if we're looking at a project in mexico or france or germany, we want to be on a level playing field with our competitors so we can win our share of those projects. we're headquartered in danbury, connecticut. we have our r & d in new york. that offshore growth comes back here to the u.s. it's important for us to remain competitive on the offshore projects. >> thank you. thank you, mr. chairman. >> mr. brady is recognized for five minutes. >> thank you all for being here today. first, i appreciate the chairman holding this hearing. secondly, i think the draft proposal on territorial and lower rates, the way it was laid out, has been a very positive and helpful movement toward fundamental tax reform. all the witnesses today have really opened up a lot of questions on how we move forward in doing it with the most progrowth impact weighing both the book and the accounting tax type requirements you're under. i wanted to ask -- so i could ask all of you about a dozen questions. i wanted to ask our two business representatives from fedex and time warner both of you rightly make the case th

has a totally different perspective on the euro that maybe someone in france or germany or they're going to be careful they wish for because the pound is worse than the euro because they are in the industry now where they can't print currency and there's a concern about an actual break up of their monetary union doesn't mean that they don't have bigger fiscal problems than europe so i think that's funny you care to share who this guy i don't know i don't know who stores everywhere but that's an unnamed source you can take it up with him after the show shannon do you have anything to add to this pig little pig euro house debate. at least she's recycling government least that's that's more of a really good point it's a really good point this is putting it to really good use making a symbolic statement with waste with explain the word agree on currency level areas ok let's move on to something that might not be totally worthless but kind of close if you're in the market for a new car this is one that you could own it is u.s. president obama's old car junker. an illinois resident is selling

people telling other developed countries and if i see japan china the entire the european union or france germany england if you know the size of their country versus the size of our country why do you stay on a high speed rail across france it's a hell of a long ride it's a pretty good so you know that europe is is it while it let's start with china china just just just completed a five thousand two hundred mile high speed rail run the equivalent of chicago to new york city you can now go chicago to new york city in chicago in china in about a half hours at two hundred fifty miles an hour they did that in eight years why can't we and they are going to bankrupt other airlines you create competition out there like you guys the airlines in china are exploding they've got three new airlines discount what it california just do with their high speed rail it got blocked by republicans same as the one in florida a lot of occidentals are involved because the republicans don't want the country to work they want to broken so that they can blame that on iraq obama to build a wall that they knew it would not

central bank has settled interest rates are calling to the needs of the core europe which is or germany austria the france netherlands on its right to the right to do that and those interest rates were very low for spain they were adequate for most countries part very low for spain so what happened these that we received an enormous amount of credit reach priest spanish debt this particular. piece of foreign called the forty forty. so what happened is that these cheap money has created bubbles like the real estate bubble and when the crisis started the real estate bubble. fell down and of course companies started going back dropped public administration started not receiving income they were accustomed to and the whole the whole economy blew up we think many government come in but the protests have continued what do you think spain's future now holds the government is doing what. you are peace telling them to do cut public spending and make some structural reforms like labor reforms which is it's ok. but that's not going to solve the problem because the problem is the euro and that's not going to solve th

you're meant believe me there is a kind of negotiation if i may say so between major partners germany or france. if we spend a little bit more on you procurement of course a major part probably to france and germany france since the major creators but was torture main afloat another threat looms it be made nice but what we've been advised to do is to sell copies of medicine relations of patients are being forced to put their hand in their pockets for treatment this problem persists in our hospitals i've worked in dimitri's account comes in the back of cuts slashed medical staff pay a letter desperate shortage of equipment including affordable prescription drugs this is the very human face the term austerity measure and increasing number of people call on the treatment need in the current health care system and desperation to turn to aid agencies like this a regime known for caring to athens immigrant population the midday cure at this center shows just how sort. after the treatment is first before you see more and more people coming to us that are there is that we might see up to three hundred

i mean there is a kind of negotiation if i may say sure between the major partners which are germany or france. if we spend a little bit more on you procurement of course that major part of that we crunch in germany france she is the major creditors such potential buys include a contract for greece to purchase a number of french frigates still under review but was talks remain afloat another threat looms it been made nice but what we've been advised to do is to sell copies of medicine relations of patients are being forced to put their hand in their pockets for treatment this problem persists in other hospitals i want to dimitri's account comes on the back of cuts slashed medical staff pay led to a desperate shortage of equipment including affordable prescription drugs is a problem only likely to worsen as the job loss increase a few people were able to afford private health care this is the very human face the term austerity measure i think. number of people call on the treatment need the current health care system and desperation to turn to aid agencies like this a regime known for caring to

america is fundamentally unlike england or germany or france or sweden or for that matter unlike japan or china. the american project must once again be seen for what it is to a different way for people who live together, unique elimination's and precious. that's it. [laughter] [applause] >> thank you for the marvelous lecture and now we'll return to your questions and after that adjourn to the recession in the lobby. is the mature. i would just recognize them. and we give people -- >> microphones. right there. >> i would just like to ask about the possible influence of the social media on us going forward because although all these separations took place before facebook, we now have facebook and other ways people interact. what do you see happening? >> it can be fostered by the internet are absolutely fascinating. and i discussed them in the book to read and i'm talking about social capital traditionally whereby through the social media in our immediate family we have a case where the crisis with the two majors and four were recognized by their online friends and mobilized the interve

have said to me look we don't say that france in its title doesn't say the christian state or france or the christian state of britain or the catholic state of germany and so forth and i've said to them that why do you say the islamic republic of iran if you raise the word islamic we will raise the word jewish and they say no that's different why is it different this is the kind of. discussion we have had to put it that way sometimes very very. heated discussion in your opinion would it be good or bad for israel if assad regime force. let me first say that israel has no way of influencing the results of the present. events in syria i believe that assad is going to fall and i think that ultimately assad will fall in a way which will cause a lot of purchase. and i think that this blood should would have enormous effects on the history of syria and maybe of neighboring countries as well i must it is very likely to have a new tune how will this play into israeli palestinian reconciliation efforts if at all one person i'm not sure how much will have a new leader. certainly i don't think the national has been the most extreme of the leaders of the hamas h

so if we are looking at a project in mexico or france or germany we want to be on a level playing fieldwith a competitor so that we can win our share of those projects. headquartered in bamberg, connecticut. have our r&d in new york. that offshore growth comes back here to the u.s., so it is important for us to remain competitive on offshore projects >> thank you, thank you, mr. chairman. >> mr. brady is recognized for five minutes. >> thank you all for being here today. first appreciate the chairman holding this hearing. secondly at think the proposal on territory ellen lower rates was laid out and has been very positive and helpful movement toward fundamental tax reform. all of the witnesses today have opened up a lot of questions on how we move forward and doing it with the most pro-growth impact, weighing both the book and the accounting tax the type of requirement that you are under. i wanted to ask, if i could ask all of you about a dozen questions, i wanted to ask our two business representatives from fedex and time warner. both of you rightly make the case that in addition to lo

bank has settled interest rates are courting to the needs of the core europe which is or germany austria the france the netherlands and it's right the right to do that and those interest rates were very low for spain they were adequate for most countries part of very low for spain so what happened these that we received. an enormous amount of credit reach. priest spanish debt particularly. for income the forty forty. so what happened is that these cheap money. which was of of low interest rates. it has created bubbles like the real estate bubble and it has been it has called. as a mildly medium immigrants working not qualified to grunt work in many of the i mean we understate all of low paid jobs and also that we probably could ministrations have been accustomed to receiving. a lot of income because if the economy was. working very well and when the crisis started. the real estate bubble. fell down and of course companies started going back dropped public administration started not receiving income they were accustomed to and the whole the whole economy blew up the only thing when the government co

with germany or france and also call for more control over greece's finances including future bailouts follows an attempt by betting to assume control of the country's budget blueprint checked by the debt ridden nation that's one of the themes featured in today's kaiser report coming up at seven thirty g.m.t. . what they're not taking into consideration is that all of this debt is off the balance sheet and all the income is used immediately to pay off a bank in near and germany so germany has effectively to seize control of greece they've seized control of portugal they will soon be totally in control of spain and they're totally in control of the euro zone it's all legal remember they put all that bad debt off the balance sheet you don't have interest rate risk you have political risk in the countries that are not germany germany doesn't have a political risk because they are europe. the former head of britain's m i six spy agencies he's being sued by two dissident libyans here that really helped to rest and deport to conduct two trips in two thousand and four their case again substan

or where there would be in the southern tier southern economies in europe or even some of the north of economies france and germany is actually experiencing some decline in trends ok people what do you think about that i mean i mean we see our sturdy it with a vengeance in europe and we even go through southern europe are all the way up to germany the french are be experiencing it as well how can is this the right formula and dimitri says it's not right for me and to bring us back to prosperity because a lot more and more people are just being a misery. yeah well i think look the bottom line is it's really interesting people won't agree to us territory or comply with us terry if things are getting better you kind of need to be in bad times to get people to understand how serious a debt problem is and that it needs to be addressed i mean nobody was interested in addressing the debt problem during the boom it's only during the bust the people start to understand why but it is true that austerity doesn't alone create price prosperity what does create prosperity are small entrepreneurs and this is really important two

to believe i mean there is a kind of negotiation if i may say sure between our major partners germany or france. if we spend a little bit more on you procurement of course that major part of that we crunch in general jim france she's the major creditors such potential buys include a contract for greece to purchase a number of french frigates still under review the last talks remain afloat another threat looms it be meanies but what we've been advised to do is to sell copies of medicine relay.

interesting thesis we just heard but you know but do you know that it's not the end of the world in germany or in france is on the end of the well everywhere as we impose in greece and portugal and ireland and that is not what the eurozone or european union supposed to be united states of the in the united states of america new york sends a lot more tax dollars to the federal treasury the receives in terms of government expenditures on low. like delaware in the in the opposite direction he receives a lot more than it sends to the federal treasury so you cannot have a euro zone. with only one power to dictate the terms of the game so clearly one's ones the governments begin to understand this as you say there is an intellect and the ideological shift if you look at the last polls in greece you will see that the left has been gaining as well as the altar right now this is not a healthy situation and i am sure that you will see the same thing in portugal and you will see alternately the same thing in as you're seeing in france for the socialist actually present their shrink headed to gain support against m

because, you know, i can talk to you, and you understand it, but in germany or france or egypt they won't understand it. so i'm rearranging my life. i can survive. that's important. >> georgie anne geyer's newest book is predicting the unthinkable, anticipating the impossible. thank you for being on booktv. >> thank you. >> here's a short author interview from c-span's campaign 2012 bus as it travels the country. >> pat mcnealy, your books is titled knights of the quill. who were the knights of the quill, and what interested you in writing a book on this aspect of the civil war? >> the knights of the quill were confederate reporters who wrote for newspapers during the civil war. their colleagues in the north were called bohemians, and one of the things that interested me and my fellow colleagues who wrote the book is that these reporterses normally use sin no anymores during the civil war. the confederates used the synonyms but in the north it required the reporters to put their initials after their names, after their articles. and so as a result the federal reporters were more easily ide

because, you know, i can talk to you, and you understand it, but in germany or france or egypt they won't understand it. so i'm rearranging my life. i can still write. [laughter] that's important. >> georgie anne geyer, thank you for being on booktv. >> thank you. >> up next,ut

. >> i was just hoping that i could get a sense whether or not other really mature economies like germany and france were doing numbers much more similar to us. i think all of the really fast emerging countries would be doing what we're doing. but i'll leave that for another point. all the major activity has been in the engineering and frontier research centers. i guess we have 46 of those. those have been standing for a couple of years now. do you have an ongoing program for oversight or measuring what the output of those centers is at this point, or is it -- >> yes. we're starting a very thorough review of the effectiveness of the so-called erocs, and very rigorous analyses of how to evaluate them based on outside scientific referees to see how each one is doing. because we want to make sure that the ones that are working very effectively we'd like to continue, the ones that are not we're going to have some discussion. >> what is a fair period of time to begin to account -- >> well, every year they're reviewed. but i think in this next review, it's a much more thorough review, so then you step bac

many western nations forbid employers from laying off workers or cutting their wages based on age. briton, germany and france have no mandatory retirement system. in the u.s., employees can keep working if they are doing a good job regardless of how old they are. so japan's attempt for an across the board extension stands out. the traditional lifetime employment is at the heart of this. japanese believe companies should take care of what their workers for their entire careers. >> nhk world reporting for us tonight. thank you. appreciate it. >>> greece is struggling to avoid defaulting on its debt euro design finance ministers called off a meeting on the rey rescue plan. ministers were expected to approve a an extra bailout for greece on a meeting on wednesday but drew up plans for the face to face talks saying the nation has not yet fully met the conditions for the bailout. those requirements include submitting documents by leaders of ruling parties and outlining how it will secure resources to cover spending cuts over 300 million euros. the greek government is now thought to be discussing an option of reduc

. >> i was just hoping that i could get a sense whether or not other really mature economies like germany and france were doing numbers much more similar to us. i think all of the really fast emerging countries would be dog

the heads of france and germany gave greece an ultimatum today: cut government spending or get no bailout money in march. tom, without that money greece could default on its debt. >> tom: the risk of that weighed on the markets, susie. investors were expecting a debt deal by today, and when it didn't happen u.s. stocks sold off. also worrying investors? a fresh round of sanctions against iran as president obama tries to pressure the government there to end its nuclear program. by the close, the dow lost 17 points, the nasdaq was off almost four and the s&p 500 was down by fraction. >> susie: the greek government did agree to lay off 15,000 workers by the end of this year. and tomorrow, greek unions are planning demonstrations protesting cuts in jobs, wages and pensions. let's get reaction and analysis on all this from our guest tonight. joining us now? nick colas, chief market strategist at convergex group. are hi, nick, nice to you have with us. >> thanks so much. >> susie: all right so, this greek drama has been going on for two years now. so the question is, is greece going to get its