>> you know, on the regulatory front i do agree with john but, e notion that tax rates are the panacea and theolic magic wand is completely false. you look at iowa, for instance they had a1% -- highest corporate tax rate of any state in the country and the lowest unemployment rates, 5. % and nevada almost the lowest tax burd on a personal and corporate level, almost the highest unemployment rate. tax rates are not the panacea, the governor romney and a lot of reblicans pretend they are, but i think the business climate is an important issue d takes into account things like investment, in infrastructure, skilled labor force, as well as regulay burdens. >> toby? >> well, susan, iowa has a lot of farmland and they are doing okay. you can be geogrhically correct but let's talkbout regulatory. becae both in iowa, colorado, for instance, i know many companies that have left lifornia for colorado, specifically because their cost of doing business was more tha 20% lowe and they voted with their feet. i think th regulatory one is the sleeper one. we have added somethg like 32,0, pages of additi

>> i just want to make a very brief point that i don't think that this dashboard is the panacea, but as supervisor olague says is another tool. having more information is helpful and if this were jobs and you knew that you needed to create x number of certain types of jobs, as you create each job, i think you want to keep track of how you are doing in that objective. that is what this is. simply providing that tool for us to know where we are, but in the end, the answer is not the tool itself. the tool simply helps you have the analyses to know how you are doing. >> thank you. and i did want to thank miss campbell fort great report and the data and analysis is really useful for us. so why don't we open this up for public comment? is there anyone from the public that would like to speak? please come forward. we have sue hester. >> sue hester. i would like to start with thanking supervisor olague and supervisor campos and anyone else who sponsored this legislation. i have been pushing for this at least for ten years. it's therapeutic to have right before your eyes, when you are conside

this is not a panacea, melissa, if we do that it will solve every issu with crime and violence in chicagolutely not. i would submit we have issue with straw buyers, straw purchasers buying thousands and thousands of bullets and guns that end up on the streets in the wrong hands. maybe if we hit the pocketbook and we'll see less of them out on the street. the legislation, dollars raised will kept help county pay for victims of violce in chicago. melissa: younow. i le the basic idea of it because you tax things you want to discourage. makes a lot of sense with smokesing for example. if you raise price of something you create a bck market especially people in these casings, talking about violent crimes they're already dealing in something illegal to add a black market for bullets doesn't seem like that big of a stretch. >> we already have a black market unfortunately bullets an guns unfortunately in this city but in the country. i don't think we're creating any kind of a new market. we're going to the root of the problem, these machines of death and destruction that are on our streets get th

on a sustainable path and reform the tax code and the education bank and the fed policy is not a panacea. takes on the criticism of the federal reserve and saying it is not doing so because that is temporary and the fed will eventually sell the assets at the appropriate time. also noting as he has in the past that increased bank reserves don't necessarily translate into more money and saying the fed has the power to do that at the appropriate time to prevent inflation. just a few more things, this issue of savers, a lot of people talked about how savers have a disadvantage to low interest rates to fed policy. savers have a lot of different interests out there. some have pension plans and they also own homes. the best way to address the concerns is through a stronger economic noting without a job you can't save for retirement or buy the home and it is the best way for the fed do that is make the economy stronger and the best way to make it stronger is through lower rates. just one other thing. he is addressing this issue that has been percolating in congress, the idea of giving the gao th

or there's a degree of misguidance and believing this government is the panacea. a lot of our problems are decades in the making. >> and manufacturing what our future is. >> that goes out the window. suddenly it's one person in the white house who will change 30 years of trajectory. >> we see that argument with gas price as if the president can change the price of gas. i have to transition to john sununu and colin powell. we can talk about numbers all day long but this is another buzz story. let me play what mr. sununu said on cnn. >> when you take a look at colin powell you have to wonder whether that's an endorsement based on issues or whether he's got a slightly different reason for preferring president obama. >> what reason would that be? >> well, i think when you have somebody of your own race that you're proud of being president of the united states, i applaud colin for standing with him. >> may it be the mourdock comment at the beginning of the week regarding rape or john sununu with this line here. he said colin powell is a friend and believes he based his

there's a role for the parochial schools, but chris, you know, vouchers and charter schools are not a panacea research done that shows us that kids don't necessarily outperform public school kids using those options. and the point i need to make, chris, is that i am the president of all children. and that includes the children whose parents aren't able to exercise school choice. i want all -- >> so you answered my question my way, which is if the president gets to send his two wonderful daughters to a private school and a nice school, let's extend a little bit of liberty to other people. >> i'm extending a lot of liberty. >> i want to know why romney pays 13% and the tax law says you should pay 35%. it's written right there. top bracket. he makes 13 million bucks last year out of equity and he pays, what, 13%. how come? is that fair? >> well, it's fair because that's how the law is written, chris, with respect to investment. >> the law can be changed. >> well, the law can be changed and that's one of the debates we're going to have during my administration. where we look at the entire tax cod

. >> this is being painted as a panacea and it's not. market share gains here probably to the expense of other forms of entertainment or casino. also, the two other casinos opened up in ohio last year reported month over month revenue decreases and obviously, the most important thing is a lot of people gambling and losing here probably should be saving and paying down debt. but the bottom line in the near term it is creating jobs and juicing up the tax covers. back to you. >> so brian, i mean, there's no guarantee that the big crowds we see behind you and what seems to be an opening day euphoria of some sort is really going to have any lasting impact based on the economic numbers you brought from the other ohio casinos? >> i think the key is that you just don't know. their argument back to me, pan national, which has one of those other two, says, you know what, a lot of that is seasonal, maybe the initial pop has worn off and going took more normalized levels but i do think it is a great point because the initial projections for tax reve

out there who has the antidote to our failing school system, but does overreliance on that heroic panaceay of sustainable education reform? instead of saving metropolis, we all end up waiting on superman. joining my panel is "america's most wanted educator" himself, dr. steve perry, host of tv one's save my son, and teacher and school administrator for many years. steve, nice to have you at the panel. >> glad to be here. >> i started by saying we have this celebrity -- if there's a celebrity teacher in america, it's got to be you, right? like, and so that's exactly why i ped to have you here is to talk about how do we figure out on the one hand the role of an inspiring figure that helps us to catalize what we need to do, a martin luther king jr., a steve perry, a president barack obama. and the systemic work they have to do. the affordable care act, the actual civil rights act, the work that has to be done in a school. >> well, the systemic issue is the issue. one of the reasons why our children are failing is not because they don't have amazing popular teachers or principals, but because

. >> well, simpson-bowles is no panacea either.duce investment and reduce jobs. >> paul ryan didn't want to do it either. it's a tough one. >> governors, thank you very much. we'll see you and talk to you again soon >> thank you. >>> coming up next we'll talk about what the tech world can learn from apple, a lesson from a top executive who worked directly with steve jobs. [ horn honks ] hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that this is important. well, both are important. let's be clear. they are but this is important too. [ man ] the receivables. [ male announcer ] michelin knows it's better for xerox to help manage their finance processing. so they can focus on keeping the world moving. with xerox, you're ready for real business. >>> wefr' back. companies finding themselves in head-to-head competition with. apple are finding it hard to keep up. jay elliott, former senior vice president of apple and autho

down to the conclusion that many of the dangers of going to be fixed by central clearing and as a panaceainstead of having individual participants in the derivatives market face one another and they rely on their course of dealing with years to rely on many which has proven effective for decades and instead rely on a central entity, central clearing entity, so again it makes you scratch your head if you want to make sure that you are moving important financial transactions it's odd that he would concentrate on derivatives with central clearing entities that you wouldn't necessarily see banks there is no architecture or structure for resolving an entity another is confidence. so, any financial entity in exchange relies and depends greatly on confidence. it's not unheard of that the central clearing facilities have resulted. they have faced the attacks and the failure of members. a lot of that people try to dispel and say that there is ability and you can move to a different entity and different clearing entity that isn't well understood at all and it's hard to have confidence in that. it's

on the issue of size, there is no panacea. i will not say that i have never heard him say this one thing solves all problems. peter, do you get benefits for society for the non-financial sector, jobs, for having the global mega-banks upgrading this? because you were taking on this additional danger. can we reduce or eliminate the chances of the financial crisis? whoever says that, they are deceiving you. can we reduce the risk that comes from the very large ability to mismanage of these risks? there are 279,000 people working for jpmorgan chase at the end of the third quarter. hsbc got burned on money laundering. barclays messed up on libor. they say they did not know what was going on. well, these guys were in london and that's a long way from zurich. whatever the story, it takes back off of the table and it reduces this down to a much more reasonable level. the idea that you should be able to fail, that is what he is saying. it's incredibly unfair and unreasonable to not have a situation where the small guys are on their own

these scary things are going to be fixed by central clearing and that central clearing is somehow a panaceabecause instead of having individual participants in the derivatives market face one another and conduct their own credit evaluations and rely on their course of dealing over years, rely on netting which has proved effective for decades, instead they should rely on a central entity, a central clearing entity which needn't necessarily be a bank. so, again, it makes you sort of scratch your head if you wanted to make sure that you were moving important financial transactions away from the shadow banking system, it's odd that you would concentrate derivatives risk with central clearing entities that needn't necessarily be banks. finally, no architecture or structure for resolving an entity. so another theme that scheherazade talked about a little bit was confidence. so any financial entity -- a bank, an exchange -- relies and depends greatly on confidence. not unheard of that central clearing facilities have defaulted, have faced defaults in the past, have faced the failure as members. a

countries that have our combination of bad growth and big debts, and the recipe that works best -- not a panacea -- is you reform taxes to be more pro-growth. you don't raise them dramatically. keep them down, reform them to a growth and you control the debt on the spending side, but not all spending's created equal. you want to preserve core functions of government which in our world is the discretionary accounts and cut -- [inaudible] which in our world is entitlement programs. time has proven works, tax reform and entitlement, and our current policy stance is let's raise taxes and slash discretionary spending which is only 180 degrees wrong. other than that we're doing good. [laughter] >> what about you, steve? >> i think they will want to see something that demonstrates a credible path to lower debt and lower deficits. i mean, one of the problems that both of the, i mean, even in the ryan budget i think sometimes people are surprised at how much debt it continues to load on, you know, through the next ten years. and, you know, there's got to be -- we've got to build in both tax reforms, enti