so a company that was inefficient and really uncompetitive will become a force in >> and that's whatwe like about. >> tom: you like it for financial accounting as opposed to in demand when it comes to the material. this is one viewers can participate in. and you like csgs, customer service for cable, phone, utility. you name t. >> all they can but billing and capable for direct broadcast and satellite, and now they do customer service and a lot of analytical, where i think they can define a good niche tl, and earn totion grow appropriately, and the stock is 3% cheaper than peers. another one. miners are good to you haven't participated in gold yet. gold has gone up, and especially on weakness. all three of these, i think they're a great opportunity. >> tom: last time we saw you was june 24th of 2011. you had three picks back then. one in finance. american international group. and tts, television data systems. do you still like any of these? >> i would buy on weakness. we started buying them last summer, and keep buying on weakness, and if they went back in the low 20s. we'd buy them

you control these countries but many people are pointing to the fact that the greek economy is uncompetitiveand simply won't survive in the euro zone what's your take on that. well you know in the western media the mainstream media would have you believe that this is all brought on greek greece and it's their own fault they want you to believe that these folks retire when they're twelve years old they get every benefit under the sun and they contribute absolutely nothing to the eurozone if that is the case fine let em default that's what happens in free market capitalism if you can't pay your bills as a person or a nation in free market capitalism you default you go bankruptcy bankruptcy is a very important part of free market capitalism unfortunately that is not what we have we have a disaster capitalism we will use disaster use crisis in order to implement all its austerity and make whole entire nation's debt slaves these european banks they took a lesson from what happened in this country the united states in two thousand and eight and this time instead of asking the people of the contine

all the debtor countries need to restore growth is structural reform of their labor markets, the uncompetitive private sectors, their own financial systems, all those structural reforms are needed. and the imf is helpful in promoting that given its experience and the resources that it can bring to bear. so i believe the u.s. should support if it turns out to be necessary, additional imf financial contributions to the european problem on a minority basis, maybe the one-third in the previous cases, maybe less, but certainly it could be significant, and i therefore think the united states should support the current efforts of the imf to create a new fund, $500 to $600 billion, which in conjunction with the funds the europeans are raising, would take the firewall to beyond a trillion dollars. which should convince the markets there will be enough there to avoid any significant financial disruption, even from italy or spain. i think the u.s. should support that. however, i do not think the united states itself should contribute. the funding the imf needs should be borrowed from the big surplus and

america has so many business advantages, yet, we're saddled with an inefficient tax structure and an uncompetitive tax rate. we're pleased that there is growing consensus for reform that significantly reduces the corporate tax rate. we want to commend chairman camp and this committee for its leadership in this regard. we would welcome the opportunity to work. committee and its members and staff in dealing with these issues as tax reform progresses. once again, i want to thank chairman camp, ranking member levin and the members of this committee for inviting me today. i very much appreciate this opportunity to testify and would be happy to answer any questions you might have. thank you. >> thank you, hanland. >> thank you for the opportunity to testify before you today. the main point of my temperature is the responsiveness to tax policies can be affected by the financial implications of those policies. first i'll offer some general examples of the importance of financial accounting to managers of publicly traded companies. one example is in a study of companies accused by the sec of fraudulently o

they'll hit the standards but they'll do it without becoming uncompetitive in this global marketplace. and they'll be able to keep using renewable energy. the point of that is these workers aren't extraneous to this discussion. they're concerned about the payroll tax because they want to have a pa i roll. they want to be on it. they don't want to be in the unemployment line. they want to stay competitive worldwide. pie thought is, we've had so many speeches in congress, and at the state of the union committing to american manufacturing.here at home. here we have a common sense opportunity to actually protect those types of jobs and. 20,000 of those american pulp and paper manufacturing jobs here in the united states with just a thoughtful pause, give those companies just an inch more time to do this. i think this is a critical part of this provision. >> some of the debate on the issue of payroll tax cut as you heard from xavier becerra from california and kevin brady of texas. they are running out of time because the deadline is the end of this month as lawmakers deal with a number of

they'll hit the standard but they'll do it without becoming uncompetitive in this global marketplace. and they'll be able to keep using renewable energy. the point of that is these workers aren't extraneous to this discussion. they're concerned about the payroll tax because they want to have a payroll. they want to be on it. they don't want to be in the unemployment line. they want to stay competitive world wide. and my thought is we've had so many speeches in congress and the state of the union committing to american manufacturing here at home. well, here we have a common sense opportunity to actually pulp and paper manufacturing jobs here in the united states with just a thoughtful pause get the regulation right, give those to do this. i think this is a critical part of this provision. yield back. >> senator baucus. >> i yield to senator reed for two minutes. >> mr. chairman, one of the issues here i think is what rule are we talking about, the original rule that was proposed or the rule that has now been revised extensively with collaboration from industry and is much more focused.

america is uncompetitive with the highest tax rates in the world for employers. tied with japan, 35%. then you also have to have regulators that see their job as not just finding the bad guys, but also encouraging the good guys, making it more likely that you want to invest. you also have to take advantage of our energy resources. coal, oil, gas, nuclear, solar, wind, ethanol. use all those resources. so we have an ample supply of energy ourselves and don't have to send hundreds of billions outside our country buying energy. by the way, put in place that keystone pipeline. that's a no-brainer. [ applause ] china, look, i like free trade. it's really good. we're a very productive nation. we make more stuff per person than any other major economy in the world. that means we want to sell stuff to the nations, open upt opportunities for us to grow. if someone cheats, if someone steals your patents, your des n designs, your know how, if they steal those things, they get an unfair advantage that they haven't paid for. if they also hack into your computers and steal you

developing that our corporate tax rate is just too high and just making american corporations uncompetitive but it's not available scale it's not there just get around it and that's that's why let's make it let's make it less bright and i have to tom believe impact simplification of the byzantine pacs code yeah we could probably slim that other frigging consensus on this and it's a little exposure to face exploding gradkowski laws in this play aren't silvano let's talk about the occupy movement the koch brothers for a minute here the american legislative exchange council elec alec is this weird group that's been around for a couple of decades pretty much nobody knew about it until they got exposed largely by i think the center for american progress in the fog's research be they have these twice annual meetings where corporations pay tens or hundreds of thousands of dollars to sit next to state legislators state senators and state representatives who pay anywhere from twenty five to one hundred bucks a membership dues and they're funded ninety eight percent of their total funding comes from

developing that our corporate tax rate is just too high in interest making american corporations uncompetitive but it's not a little scale it's not there just get around it and that's that's why let's make it let's make it let's. leave in fact simplification to get our taxes going to the byzantine tax code yeah we could probably slim down other frigging consensus on this path but it's a horrible that will expose you face exploding right i could obviously i was in this play are lots of them let's talk about the occupy movement the koch brothers for a minute here the american legislative exchange council alec alec is this we're group it's going to run for a couple of decades pretty much nobody knew about it until they got exposed largely by i think the center for american progress leaf on this research be they have these twice in your means where corporations pay tens or hundreds of thousands of dollars to sit next to state legislators state senators and state representatives who pay anywhere from twenty five to one hundred bucks a membership dues and they're funded ninety percent of their total

. >> we have a country right now, frankly which, is uncompetitive with most of our trading partners that- certainly our biggest trading partnerships. >> for his part, ron paul has been a big draw at rallies in minnesota and is taking a page from romney's playbook and focusing in on the president. >> i like to go after the president, i don't don't do it as long as others. i see it's a big problem. >> one big question mark continues to be newt gingrich. >> whatever neighborhood, whatever -- [ indiscernible ] gays and lesbians all of the time. >> reporter: despite heckling, the former speaker is showing snow no signs he's ready to concede the race to mitt romney. >> we want to you join us as americans and to dwell an american campaign. >> reporter: with less than a month new until super tuesday, mini tuesday could help mitt romney build a super lead to the republican nomination. and early voting got underway in ohio for that state's primary and important to know, one place that newt gingrich won'ton the ballot side is in missouri, where he did not qualify for that state's primary. back to y

our tax rate and regulatory burden, our cost of capital has made us uncompetitive. we are 20% more costly in america to do manufacturing here, and excluding labor costs, and this is really important. if you take labor costs out, american regulation and taxation make our country 20% more costly to do business in them are nine top trading partners. we do not have a level trait -- we do not have a level playing field. i put forward a plan that says, let's look to what the government does to make our businesses on competitive. there is one unique sector of the economy that is at a disadvantage. the rest of the economy is not competing head-to-head with china and mexico and indonesia and india for those jobs. in manufacturing, we are. they want those jobs. they know that manufacturing is a wealth generator for the economy. they know making things creates wealth. they also know that it gives opportunities for folks at all skill levels in the economy to be able to participate. we still have a lot of great innovation going on. that innovation, sometimes, it is made in this

the problem is we're globally uncompetitive in business practice.e democrats and republicans can play politics, but until we see real policy change and evolution, we're going to have changing on the window dressing ra rather than something substantial. that needs to come from the public to ask their leaders to do more. we have seen that on the right and right. we need to get pressure to push for change. rather than just changes in terms of appearance. >> i was just going to say. we talked about this a little bit before, but there is reason for optimism. you see the president having some tough language about china and signaling he may take action there. that was really a push that came from the people and then the republican candidates adopted some of the rhetoric and forced the president to also adopt tougher rhetoric on china. so we are still a democracy and the peoples' voices do matter, even if it's hard to compete with the money and influence that are out there in d.c. >> the interesting thing just being here a few days, the awareness that all w

in america, and the problem is the government's policy is making manufacturers in this country uncompetitive, and as a result, manufacturing jobs are moving offshore. so if the government is causing the problem, then government has a responsibility to fix the problem. in other words, to change the regulatory environment, which i do in our plan, and to change the tax plan, which i do in our plan, and it's about creating a level playing field. i am for the equal opportunities, and my concern is the length of unemployment insurance leads -- there's all sorts of studies, the longer you are on, particularly a year or more, leads to long-term chronic problems of getting back in the workforce, and you lose skills and all sorts of things. it is not beneficial for people in the long term to be on long-term unemployment. that's the argument i made. >> i want to ask about the area about your faith, and you talk about it week in and week out and it's very important to you. i want to play a famous clip from jfk's a speech in 1960 where he talked about his views of religious influencing him, and this is a

, tax reform that's not tax reform that's tax deform, raising tax rates making the system more uncompetitivee're going to have a tax reform we want to get the rates lower not higher. the president would actually raise the capital gains tax from 15 to 30% and in his proposal he would raise the dividend tax ali from 15 to almost 45%. how is that going to make america more competitive. >> can i jump in. >> go ahead. >> tax experts have said his current day proposals are more like tax deform than reform but in terms of talking about real tax reform he, too, says he would like to lower rates broaden the base and get rid of tax breaks. >> david johnston is a columnist at thompson reuters and won the pulitzer prize in 2001 for enterprise reporting that uncovered loopholes and inequality and inequities in the u.s. tax code. you wrote that our individual income tax system is, quote, as out of touch with our era as digital music is with the hand cranked control of music players of 1912. if the current tax code is unfair and again i don't want to get caught up in language whether unfair or not pro grow

with those charges elsewhere in delaware and importantly uncompetitive with other parts of the country where they have similar facilities. i am sensitive to the revenue needs of our municipalities but if these businesses leave our state, these jobs may well be left lost forever and as expressed to me by senators simpson and representative dan short, we need to work together to meet the expectations of companies choosing to do business here that the rates they will be charged for municipal power generation will be fair and competitive and i'm ready to begin that conversation with our municipalities. creating jobs must remain our number one priority and this is particularly chervil when it comes to our returning veterans. i was privileged to visit recently with our troops in kuwait and afghanistan and we have with us today sergeant bruce stevens of dover and senior airman jason dura check of wilmington. [applause] [applause] [applause] both of them served actively and afghanistan and the first tank is that we owe our veterans when they come home is the chance to partake in the abundance

we have a country that is uncompetitive with most of our trading partners. our biggest trading partners. the reason it is an competitive is not because of the cost of labor. if you look at the top nine trading partners, we are 20% more expensive to do business with. if we do not trade that cut -- change that, we are going to continue to lose manufacturing jobs in this country. we are going to have these products which have been engineered in america, manufactured somewhere else. people say, how are we going to get the economy going? certain parts of the economy are going well. not as well as they could. the rest of the economy is lagging behind. unemployment among blue-collar people is three times what it is then college graduates. the innovation that is occurring at the top is not being made in america. people are not reaping the benefits of the transformation of innovation. we need to change that. the wall street journal described my plan as supply-side economics for the working man. i do apply supply-side economic principles. create a plan field that can

it makes us uncompetitive.t should make the system simpler and fairer. >> norah, thank you very much. with us now jack welch, former ceo of electric and founder of the jack welch institute. good morning. >> good morning, charlie, how are you? >> what does it mean that the dow jones had the success it had yesterday and does it mean, in fact, that the economic recovery is under way? >> well, it is a reflection of the better economic times that we have seen over the last five months or so. there's no question the economy is picking up. you've seen it in all the numbers. it's even moved in the last few weeks into the construction area where you're seeing a glimmer of hope where there hasn't been any light at all. >> because of housing? >> yes. >> when you look at what the president is proposing, you have been long time advocate of lower corporate taxes. is the president going in the right direction as far as you're concerned? >> clearly, he is. and this is the political season, as you know better than anybody else,

of energy availability has made us -- government regulations in all these areas has made us un- uncompetitive. we are 20% more costly in america to do manufacturing year, excluding labor costs, which is important. people say you need to cut costs in manufacturing and cut labor costs. no, if you take labor costs out, american regulation and taxation in particular make our country 20% more difficult to do business in than our nine top trading partners. that means we do not have a level playing field. what i have put forward is a plan that says, "let's look at what the government does to make our businesses uncompetitive." there is one unique sector of the economy that is at a disadvantage vis-a-vis the rest of the economy. the rest of the economy is not competing head-to-head with china, mexico, indonesia for those jobs for the rest of the economy, but in manufacturing, we are. they want those jobs. why? because they know that manufacturing is a wealth generator for the economy. they know making things creates wealth. they also know that it gives opportunities for folks at all skill levels in t

administration officials say the changes are essential for fixing a system that's uncompetitive, unfair, and inefficient. >>> minding your business this morning, stock futures for the dow, nasdaq, s&p 500 all trading slightly lower. the dow briefly, briefly crossed the 13,000 line yesterday. for the first time since may 2008 but it couldn't hold on. markets worldwide are down this morning. investors are concerned the new bailout for greece won't be enough to solve the debt problems in return. >>> secretary of state hillary clinton didn't get the memo. take a look from the group vote to from the g-20. everyone in white except for hillary clinton in lime green. this state department said it wasn't aware of any formal dress code for that photo-op. soledad? >> people for that? i mean, that's -- you get somewhere, oh, it's black tie. got it. change it. there's a lot of other really important things going on. >> that's true. no question about that. there is a lot going on but there should be a person who then is dispatched to go get the white shirt, steal it off of an employee, and put it on