jared bernstein, doug holtz-eakin.nks. >> woodruff: germany descended into political crisis today, as chancellor angela merkel called for new elections after talks to form a coalition government collapsed. john yang has more. >> yang: thanks, judy. chancellor angela merkel's 12 years in office have cemented germany as europe's backbone of stability. but her political future is now in jeopardy. she was weakened in national elections two months ago by a new and strong challenge from the far right. overhanging it all: merkel's open-door immigration policy of the last two years. for what all this means for germany, europe, and the united states, we turn to ian bremmer, the founder and president of the eurasia group. ian bremmer, thanks for joining us. germany for so long has been sort of the rock of stability in europe, politically and economically. how did we get to this place? >> well, that's right, and circle since the financial crisis in 2008, the one thing that everyone could count on in europe was a strong german cha

i'll be speaking to jared bernstein ahead. and were pumped to open my own salon. but i couldn't bear my diabetic nerve pain any longer. so i talked to my doctor and she prescribed lyrica. nerve damage from diabetes causes diabetic nerve pain. lyrica is fda approved to treat this pain from moderate to even severe diabetic nerve pain. lyrica may cause serious allergic reactions, suicidal thoughts or actions. tell your doctor right away if you have these, new or worse depression, unusual changes in mood or behavior, swelling, trouble breathing, rash, hives, blisters, muscle pain with fever, tired feeling or blurry vision. common side effects: dizziness, sleepiness, weight gain, swelling of hands, legs, and feet. don't drink alcohol while taking lyrica. don't drive or use machinery until you know how lyrica affects you. those who have had a drug or alcohol problem may be more likely to misuse lyrica. now i have less diabetic nerve pain. and i love grooming the next generation. ask your doctor about lyrica. without pg&e's assistance, without their training our collabor

jared bernstein, a democratic economist working for joe biden said cutting taxes loses revenues. greg mancue for bush 43 said about one-third of the cost of the tax cuts is recouped by a faster economic growth. never in history have we had the kind of growth from tax cuts that pay for themselves. >> we have a tremendous opportunity here. one thing that gets overlooked is the country is sort of operating at the new normal. in fact it was until president trump got elected. so for the last eight years we're averaging below 2% growth. you go back to that congressional budget office and that's what they think the new normal is. forever and ever and ever the country will only grow at 1.8% or 2% growth. since president trump got elected it's been 3%. we think we can sustain that. >> 3% for the first quarter, it's not 3% annual growth. >> it was 3% in the second quarter, 3% in the third quarter. we're looking now probably having 3% in the fourth quarter. that's even with the hurricanes in the middle. so we do think we're actually there. granted we have to have additional policy changes t

jared bernstein, former chief economist for vice president joe biden. also an msnbc contributor. bottom line we -- yes, who wins, who loses? clearly, corporations and the super rich win. but walk us through the real rationale are tim first, of this argument that president trump and paul ryan made that this is a plan for the middle-class? >> the real rationale is that it's smoke and mirrors for the middle class. they sold this as something that's targeted the broad cloth of america. and it's simply not. there's nothing in the nuts and bolts of this tax plan that guarantees substantial tax relief for the middle-class. what it does do is it's the potentially engineered a large corporate tax cut. and then it gives a lot of perks to some of the wealthiest americans. among them the president himself. and one of the reasons that's problematic is because we still don't have the president's own tax returns, so there's no way for the public generally to gauge what the impact of these policy changes are directly on the president. we know that he's a big beneficiary of a cut in the alternati

. >> oh, let's bring in eugene scott, political reporter for washington post, and jared bernstein, formericy adviser to vice president biden. before we get started, i want to get both of you on the record. does he run? eugene, you go first? >> i don't think he knows right now. i'm not betting on it, though? >> maybe. >> i don't know. i think that qualifies as a yes. the think the thing is -- i think you really have to listen to vice president biden. i think he said what he meant. he's at a stage in his life, in his career, right now this is very personal. it's not just political. and this is a guy who's tremendously close to his family. he served this country for four decades. he was a critical part of the obama administration. he helped this country get out of recession. i know, because i was standing by his side when he did that. i think everyone has to respect his willingness to just keep that door open for now. >> let's stick with that line, jared. why biden? what does he bring? >> joe biden is someone who for years has really had his fingers on the pulse of the middle class. this is

. >> jared bernstein, thank you, and thanks for being quick. sorry we squeezed you.hings went a little long with congressman dave bratt. thank very much. >>> that wraps things up for me. i am leaving you in the very capable hands, es specially when it comes to taxes. >> very confusing. >> of ali velshi. do other states pay for new york state and -- nornlg >> no. a weird talking point. several don't have income tax and various states with low level. nobody has no taxes at all pap florida, doesn't have income tax, pay for stuff in other ways, ends up weeg being regres. states like new york and california, not defending them's in they have tax problems. don't pay a disproportionate amount of money in user fees. poor pay less for certain things than the rich do. a philosophical difference in the way you approach

. >> jared bernstein, thank you, and thanks for being quick. sorry we squeezed you. things went a little long with congressman dave bratt. thank very much. >>> that wraps things up for me. i am leaving you in the very capable hands, es specially when it comes to taxes. >> very confusing. >> of ali velshi. do other states pay for new york state and -- nornlg >> no. a weird talking point. several don't have income tax and various states with low level. nobody has no taxes at all pap florida, doesn't have income tax, pay for stuff in other ways, ends up weeg being regres. states like new york and california, not defending them's in they have tax problems. don't pay a disproportionate amount of money in user fees. poor pay less for certain things than the rich do. a philosophical difference in the way you approach taxation. for dave bratt to suggest there are no winners and losers, disingenuous. there are losers. you look a deduction in health care. >> undercutting obamacare. >> student loans. tax reform means there will be winners and losers. just be honest. there will

. >> jared bernstein, josh barro, happy thanksgiving. >>> the wife of senator rand paul is saying every breath her husband takes right now is painful following an assault by a neighbor. that neighbor charged with a misdemeanor. is that enough? we'll talk about that next. us. it's what this country is made of. but right now, our bond is fraying. how do we get back to "us"? the y fills the gaps. and bridges our divides. donate to your local y today. because where there's a y, there's an us. we're on a mission to show drip coffee drinkers, it's time to wake up to keurig. wakey! wakey! rise and shine! oh my gosh! how are you? well watch this. i pop that in there. press brew. that's it. so rich. i love it. that's why you should be a keurig man! full-bodied. are you sure you're describing the coffee and not me? full-bodied. they appear out of nowhere. my secret visitors. appearing next to me in plain sight. hallucinations and delusions. these are the unknown parts of living with parkinson's disease. what stories they tell. but for my ears only. what plots they unfold. but only in my mind. ove

nice to have a little chance for the conversation to breathe, john harwood and jared bernstein, havemazing thanksgiving. thanks, guys. standby, everyone, just a few weeks ago 26 people were killed in sutherland springs, texas, by a man who should not have been allowed to purchase a gun. now attorney general jeff sessions has ordered a new review of the background check system. we'll tell you what he's looking for and what experts say has to change. stay with us, you're watching "velshi & ruhle" live on msnbc. if you have moderate to severe rheumatoid arthritis and you're talking to your rheumatologist about a medication, this is humira. this is humira helping to relieve my pain and protect my joints from further irreversible damage. this is humira helping me reach for more. humira has been clinically studied for over 20 years. humira works for many adults. it targets and blocks a specific source of inflammation that contributes to ra symptoms. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections and cancers, including lymphoma

let's bring in long chun, from the rodney campaign and jared bernstein and we have two big brains when it comes to stuff like this. and when you look at the mechanics of the senate and the house bill, based on those who might be critical and i listed those who are critical and might be in play right now, what is the one element you are watching that might pivot this one way or the other? >> i don't know that there is a single element, because the challenge is you have different kinds of complaints coming from different kinds of members. so for example, susan collins and lisa murkowski, they have a concern about mixing obamacare repeal and repeal of the individual mandate in obamacare with the tax reform package. and others like bob corker are worried about the deficit and then people like ron johnson are worried about the treatment of small businesses. so there isn't a single factor, but that is why tax reform is so complicated. it is like a rubix cube and when you twist one side, another side will change and tax reform is an exercise that we haven't seen since 1986. >> jared, same que

jared bernstein who was the chief economist to former vice president joe biden. he made a number of the same claims being made here today about the giant tax cuts. and after the hearing, he published a number of articles that pointed out that that is not what happened. and i'd like -- it's not likely to happen again, i would say, based on the past performance. so without objection, i would like to submit copies of these articles into the record. now, according to your prepared testimony, you estimate that the administration's proposed tax cut to the corporate tax rate would increase the level of average household income in the united states by at least 4,000 annually after the effects have taken place. that is on page four of your testimony. >> correct. correct. representative maloney: i must say that sounds absolutely wonderful, but it sounds a little bit to me like you can lose all this weight and you don't have to exercise or go on a diet. past performance doesn't show that. the "new york times" pointed out in one of their articles that a 2012 treasury departm

he served under vice president biden, on bloomberg radio today, jared bernstein.s? from london, new york, this is bloomberg. ♪ taylor: this is "bloomberg surveillance." fight with the justice department is heading for a thanksgiving showdown. told at&t toe address their concerns about the 85 billion dollar merger before the november 23 holiday. the government could file suit to block the deal. uber has set the stage for a private startup deal. offer approved softbank's to buy a multibillion-dollar staying. they will be able to invest and by up to $9 billion in shares from existing investors. tom: with us now, greg valliere with horizon investments. masters joins us, the former cio of a be bernstein. -- ab bernstein. this is a nice primer from the gentleman from harvard law. trade is not a zero sum game. he goes on to the president's politics, a populist who complains about unfairness, while saying that it is reasonable for all countries to pursue only their own interests is best putting all countries on a collision course to trade war. the big story of this trip w