we have the highest corporate tax rate in the oecd. 5%. president obama and -- 35%. president obama and governor mitt romney have both come out advocating for reduction of the corporate rate. president obama says 28, mitt romney says 25. if lowering marginal tax rates is good for corporations because of the incentive effect, aren't they good for individuals because of the incentive effect? so i think we start having that dialogue. because there's a commonality on the corporate rate, we might see something happening in 2013 because the democrats are also interested in corporate tax reform. that's a wedge on tax reform in general. and you mentioned the $1.5 trillion sort of deficit each year. for those new york times columnists who think that the stimulus bill we put forward wasn't big enough, $1.5 trillion extra spending again is enough still rahtive right there, and how is that working for us? >> you know, in many any discussion about economics -- in any discussion about economics, you quickly get to a chart. we didn't treat you to wonderful charts tonight, but i wil

developed nations, this is according to the organization for economic cooperation and development, the oecdranking 25th in math and 17th in science. we are not pursuing any sort of feasible energy policy, there is no bipartisan support to get anything pushed through congress and you talk about science and technology and engineering and math careers, we are not giving our students the tools that they need. we are divesting in education and made science, whether it's climate change or actually new technology, a four-letter word. what's happening in american culture to account for this shift? >> one of the interesting things, maybe bill can address this, is what i see as a lack -- the loss of scientific authority. it used to be a scientist told us something after investigating it and going through the scientific method and we went oh, that's real. global warming is real. evolution is real. i think todd akin's comments relate to this because what's startling about them is how much it reveals him to be totally ignorant of human physiology. it's not the use of the word legitimate. it's the idea t

it's the highest in the oecd. feels really good. got all the facts. nothing wrong with that argument. future sister-in-law says i think you just want to get their last end tax breaks to millionaires. you know what else? free enterprise isn't so good for her. i lose. i lost that argument. it doesn't matter if this is platitudes and eight hits. it doesn't matter. i lost the argument because as making a cold coming materialistic case going head to head with a hot war case. this tells us something. it turns out my experience and perhaps your experience to his back up by a whole bunch of research these days about moral arguments. let's start with a little bit of brain science. one of the things we know is that the most amazing part of the human brain called the front or tax behind your forehead and processes all of these great things. one of the things that it does is helps to make executives judgments. when you have to decide whether to go writer that she make explicit decisions, you're able to do that and let me know spastics to get to work. the same par

has the most progressive income and payroll tax system in the oecd. the u.s. is quite a progressive tax system partly because of the refundable income tax credit. but those do not send it. period they won't appear in the data because they are not after-tax data. most other countries distribute welfare payments in cash. the u.s. has always been habituated to doing things like food stamps and medicaid and special benefits of that sort, energy subsidies and stuff like that doesn't show up in the data. so i don't think the international comparisons that exist are valid. that's a good area to explore, to do some better international comparisons that design and cad coming to after-tax and count income transfer payments. >> yeah, which is going to add that the oligarchy problem is more severe upon high taxes on the rich because on two counts, the rich made their money privately. number two, they don't allocate resources for private purposes. they allocate to protect themselves. so the oligarchy is more severe. >> i mean, i guess two points. it's not dangerous, but it

done studies that suggest in their modeling that if japan had participation in the workforce at the oecd level by women, a gdp growth would increase at an annual basis by something like 0.3% which is quite considerable. and trade.

women, goldman sachs has done studies that suggested japan had participation and the force at the oecd level that g.d.p. would increase by something like 0.3%. which is quite considerable. for japan the number is roughly 16 term. joining into free trade agreements would unleash competitive forces of the japanese economy in give japan a real influence in shaping regional trade and architecture. it is not just about the bilateral economic relationship. it is about japan and powering itself internationally by being the leader in foreign trade agreements. these are some of the areas despite the well known challenges japan has with energy, there is some real potential. part of our purpose is to explain why it is in u.s. interest that the potential be tapped. >> thank you. the importance of energy in our economies and our national security is often overlooked but cannot be overstated. it is something we took on board when our group took this project. in the context of the alliance, we identified several challenges and opportunities that are emerging. i would like to review them. first, nucle

the source is the oecd. it looks set total tax revenue as the share of gdp. u.s. is the lowest by far and has been declining in the last decade. what is the appropriate level of taxation? guest: it is true that europe has higher taxes. that did not turn out so well. the last thing we want to do is emulate european-style taxes. president obama would like us to have european levels of taxes and i think if we did, we would see a faster decline in the economy. i do believe that we need higher tax revenues to balance this budget. there is no question about that. i think this is a difference in philosophy between some of the economists in the obama administration. i believe the way we could get revenues in is the way that ronald reagan did by growing the economy and incentivizing work and risk taking and business creation to create a bigger pool of money. lot during this recession andtse wht working and businesses are not making profits, there is not a lot to tax. host: jody on twitter wants to talk about tax rates -- guest: when tax rates go up, you stifle economic act

understand that today, the united states has a lower completion rate of high school than the average oecd country, the average developed country. if you go out on the street, if we walked out onto page street and asked someone, they said we are probably first in the world and the amount of education. that is not true. either in quality or quantity. this report is really important in my opinion. because it says that we have got to think of a broad investment in our youth. we have got to worry about the families come and making sure that they are helping out. because they are extraordinarily important in education. we have got to worry about a support network. early childhood development, and the school. in the past, we have done to the of the things. first, everybody in the united we have to doinsaid that more about our schools. but they are saying it calls for steepening what we are doing now. some have a slightly smaller class sizes. a little extra program for reading on thursdays and so forth. without thinking about ideas that actually create higher achievement and a better performance.

sachs ask studies that suggest in the modeling if japan had a participation in the work force at the oecd level by women gdp growth would increase on an annual basis by something like.073% which is considerable and trade. korea, for example, has 36% of the trade covered under free trade agreements. real dynamism in the economy. it for japan the number is roughly 16%. joining into free trade agreements. not just the ttp or the scheme that david described. but free trade agreements would unleash competitive forces and give japan real influence in shaping regional trade and financial architecture. it's not just about the economic roip with the u.s. it's about japan empowering itself be in being a leader. these are some of the areas and there are others where despite the well known challenges you can have demographics with energy, and so forth, there's real potential and part of our purpose is try to explain why it is in u.s. interest that potential be tapped. thank you. >> thank you. secretary armitage. good morning. it the importance of energy in our economies, each of our economies, and ou

has a lower completion rate in high school than the average oecd country, the average developed country. if you go down the street, i think if we walk down to teach street and asked somebody, they would say were probably first in the world in terms of the art of education. that's not true, either in quantity or quality. this report is really important in my opinion because it says that we have to think of a broad investment in our youth. we have to worry about the family that they are helping out because they're extraordinarily important in education. we have to worry about the support network, the early childhood development and the school. in the past, we've done two things. first, everybody in the united states, including people down on each street say we've got to do more about our schools. but it's more that service. and if anything, it calls for a deepening the upper doing now. so we'll have slightly smaller class sizes. we'll have this, that were the other thing. a little extra program for reading. without thinking about what it is that creates higher achieving a better performan

has a lower completion rate in high school than the average oecd country, the average developed country. if you go down the street, i think if we walk down to teach street and asked somebody, they would say were probably first in the world in terms of the art of education. that's not true, either in quantity or quality. this report is really important in my opinion because it says that we have to think of a broad investment in our youth. we have to worry about the family that they are helping out because they're extraordinarily important in education. we have to worry about the support network, the early childhood development and the school. in the past, we've done two things. first, everybody in the united states, including people down on each street say we've got to do more about our schools. but it's more that service. and if anything, it calls for a deepening the upper doing now. so we'll have slightly smaller class sizes. we'll have this, that were the other thing. a little extra program for reading. without thinking about what it is that creates higher achieving a better performan

a event oecd study looks at 21 countries across 30 years taken comes to the conclusion that higher marginaltrepreneurial activity and they get down to the level of individual industrials. so there is evidence. >> hold on, i think from the same study, three decades of tax cuts may have gilded the pockets of the rich but they didn't provide economic juice among developed nations incomes per person grew no faster in the u.s. and britain that slashed the top rates than in countries like spain, germany and denmark, which did not." >> since ron raald reagan we've employed 40 million people. we have 35% to 45% more hours of work per working age adult than they have in germany and france and median incomes that are 25% higher, even higher if you look at it more carefully. >> explain this to me. "the nine high rate states" this is in this country "nine highest tax rate states have had more growth than the lowest tax rate states." >> sure. i was debating austan goolsbee last week and he threw that statistic out. we know the value of clustering, moving to silicon valley and getting a job at facebook o

has a lower completion rate in high school than the average oecd country, the average developed country. if you go down the street, i think if we walk down to teach street and asked somebody, they would say were probably first in the world in terms of the art of education. that's not true, either in quantity or quality. this report is really important in my opinion because it says that we have to think of a broad investment in our youth. we have to worry about the family that they are helping out because they're extraordinarily important in education. we have to worry about the support network, the early childhood development and the school. in the past, we've done two things. first, everybody in the united states, including people down on each street say we've got to do more about our schools. but it's more that service. and if anything, it calls for a deepening the upper doing now. so we'll have slightly smaller class sizes. we'll have this, that were the other thing. a little extra program for reading. without thinking about what it is that creates higher achieving a better performan

repression" wages have remained stagnant the share of wages in national income right throughout the oecd countries has steadily fallen. it's even steadily fallen in china of all places so that less and less is being paid out in wages well, wages turn out to be also the money which buys good so if you diminish wages then you got a problem with where your demand is going to come from and the answer was, well get out your credit cards. we'll give everybody credit cards. we'll overcome the problem of effective demand by actually pumping up the credit economy american households, british households all roughly tripled their debt the last 20, 30 years the vast amount of that debt was in the housing market and out of this comes a theory which is very important that capitalism never solves its crisis problems it moves them around geographically and what we're seeing right now is a geographic movement of that everybody says, well okay everything's beginning to recover in the united states and greece goes bang! and everybody says what about the pigs? you know... you've got a finance crisis in the