they are weak, uncompetitive and in decline. by the same token, we need to ensure fair access to other markets. there are nontariff barriers and unfair trade practices. we need to organize the government of the united states to do that, too show we are serious. it doesn't look like we are serious about it. and as a result other countries go about their business and the playing field is not level. some suggest we had to have a national industrial policy. i think not. the japanese have one and they have been wrong as often as they have been right. i worry about government help. help is currently getting in bed with a hippopotamus. the thing rolls over on your crushes you. i would add one thing. on our economic circumstance. a lot of people are doomsayers. they are saying that things are really terrible. things are not really terrible in this country. we have got some problems. few countries in this world have developed a greater ability to focus on the problems that we have. of the about 70% computers in the world. we have the abi

[laughter] you look at across this world that protected industries, they are weak, uncompetitive and in decline. by the same token, we need to ensure fair access to other markets. ande are nontariff barriers unfair trade practices. we need to organize the government and show we are serious. it doesn't look like we are serious and as a result, other go about go across -- their business and the playing field is not level. some suggest we had to have a national industrial policy. the japanese have one and they have been wrong as often as they have been right. i worry about government health. what you need is less regulation rather than government help. government help is like eating with thetting them but hippopotamus. it feels warm and good for 15 minutes and it rolls over and crushes you. [laughter] thing on ourne economic circumstance. there are a lot of people i would call doomsayers. they are saying things are really terrible. is thingsf the matter are not really terrible in this country. we've got some problems, no question. a few countries in the world have demonstrated a greater

business revenue generated by winning contracts and this abrupt wage increase would make them uncompetitive to win any of those contracts and left a lot of individuals with developmental disabilities without work. >> it's been a fight to prove my intellectual ability all my li life. these workers, they deserve at least the respect of a minimum wage. >> painful divisions within the disabled community were exposed at the hearings. >> i'm scared. i'm scared to death that the workshops will go away, because it gives him meaning. and if his job goes away i have to quit my job to stay home with him. >> the future of sheltered workshops across the country is being threatened by stepped up enforcement of a 1999 supreme court ruling that people with disabilities work in more integrated settings. new york governor andrew quomo recently announced that sheltered workshops would be phased out in five years. >> i should be home at some point -- >> jim's developmentally disabled brother gerard makes about $1.95 an hour at aarc, a sheltered workshop in west hampton new york. drives about a half an hour eve

structure in line with our revenue trajectory, but nothing is worse for companies than having an uncompetitivet structure because then you do not win deals. you are in a downward cycle. you have a cost structure that is too high, so you do not win deals and you have to keep shrinking. emily: do you think in 2018 it will end? meg: so, you know, it is hard for me to predict. i think we have got the next three years mapped out well but it is a dynamic industry. i think when industry is changing as fast as ours, it is really hard to make predictions. emily: when it comes to jobs, job have been cut, 55,000 jobs have been cut. can you give us an idea of how many more there will be? i know you have said there will be more down the pike. meg: we are not entirely sure because it will depend on how these two companies do as separate companies. but there will be some more restructuring costs as we continue to be effective and lean and competitive on the world stage. what i know is that, if we do not get our cost structure right, this will not be the happy ending that we all know it can be. so we make the

if you are uncompetitive, they have opportunities to make decisions. the inversion -- i get more worried about the other things that are going on -- non-inversion transactions. the ceo says i will put $10 over there because i can get $.85 after taxes or $.60. they will make that decision. charlie rose: what is the effective tax rate? with corporate tax rate, it is over 30%. a lot of people say the average corporate income tax only takes into account all the deductions, tax credits, around 18% or 20% which is pretty average with the rest of the world. brian: the problem is that is an average that has a lot of people on both sides. the people on the high side are trying to get to the low side. the tax code benefits -- the financial institution, we are cash is as cash goes. for other types of companies, depreciation or research development, there is a big incentive. they are competing against people that have the same incentive and will try to drive it down. somebody who has a tax rate of 5% or 6%, which is sometimes you can get to, it is very difficult.

to make the matters worse the cost structure was uncompetitive and then it cut the cost and the cloudall the pretty good program and then we saw the accomplishment and overall and then stepped up and then he is really going and then it's the ceo and matters of all tool and then the ceo and then took over and identified 40 contracts. in the last the number and then this counsel and then it's the losses and then then it's selling and then the negotiations and then it paid $190 million and then and then detouring the money and then the bonuses and then it's becoming and then so it's no wonder were that the stock is tripled since it's lows in the 2012, and i know that most people thought that it was going up and it's going after the management. lately a number of high profiled investments and notice the turn gets involved and then the firm jana partners. we like it when they're in there. pushing for the spin off of the government business as csra. in a sense it's the break up of the turn around efforts. you know that i believe that it's a driver and value creation and then the clients hav

beyond the size of government, you say they need structural reforms, that brazil has let itself get uncompetitive other latin american economies in terms of wages, productivity, not keeping up to wages. laws andthe regulations in place that caused brazil to become so out of whack on that? >> a lot has to do with the cost of doing business in brazil. the brazil cost, you buy an iphone and it costs 10 times what it costs in the united states. there are a lot of barriers, tariffs, inefficiencies to go around. that is tied into the fact you have a large public sector that needs to feed off of that. there is a very heavy regulatory environment. i don't expect there will be structural reforms soon. i think that is a medium-term issue, containing the deterioration and hopefully for the economy to hit bottom. we still have not hit bottom in brazil. that is key. llsrlet: goldman sachs ca it an outright depression. is that correct. >> it is deep and severe. scarlet: brazil is desperate to control,lation under below 10%. what does it have to do to get there? interest-rate increases? fiscal,hings, one the an

though we're much more efficient producers, has been tagged with a tax that makes our products uncompetitiven japanese markets. so this is a big deal. i think speaker ryan would like to try to get it done. and there are both proponents and opponents of this in both democratic and republican parties, so it's going to be an interesting situation where we're going to have to stitch together the same bipartisan effort in order for us to get it done. a second area that i think is possible is criminal justice reform. there has been sincere, serious negotiations and efforts by democrats and republicans to create a criminal justice system that is more fair, more evenhanded, more proportionate and is smarter about how we reduce crime. and i've really been impressed by the dedication of a core group of democrats and republicans, some of them the most liberal democrats and the most conservative republicans, coming together saying this is the right thing to do. we've got a good bill in the senate that passed with bipartisan support out of committee. my hope is that that gets to the floor, and that we ca

though we are much more efficient producers, have been tacked with a tax that our products are uncompetitive in japanese markets. this is a big deal and speaker ryan would like to try to get it done. there are proponents and opponents of this in democratic and republican parties. it will be an interesting situation where we will have to stitch together the same kind of bipartisan effort for us to get it done. the second area i think is justice is criminal reform. , serious been sincere negotiations and efforts by democrats and republicans to create a criminal justice system that is more fair, more evenhanded, more proportionate and is smarter about how we reduce crime. i have really been impressed by the dedication of a core group of democrats and republicans, some of them the most liberal democrats and most conservative republicans coming together saying this is the right thing to do. we have a good bill in the senate that passed with bipartisan support out of committee. my hope is that gets to the floor and we can compare it up with a good bill out of the house and this is an area where us

with options have real impact on our economy and have an impact immediately in making america uncompetitive. i don't support anything especially if it doesn't have the envirnl mental impact on the back side of it. >> do you agree with the president saying it has to future generations. >> what he is saying the greatest threat facing future generations the greatest threat is 19 trillion-dollar debt for which there is no answer in. and a national security apparatus in this country that continues to deteriorate at a time when the world is growing more dangerous. whether it's radical jihadiists or russia or china or north korea or iran's nuclear ambitions. the world is growing increasingly dangerous and we're going to be cutting a trillion dollars out of the defense department and we some including some republicans have voted to weaken our intelligence gathering capabilities. >> over the weekend senator ted cruz has accused you of attempting to mislead voters in an effort to slow down conservatives coming together for him, for senator cruz. he said that in iowa in reference to a super pac ad. do

we're much more efficient producers has been tagged with a tax that makes, you know, our products uncompetitive in japanese markets. so this is a big deal. and i think speaker ryan would like to try to get it done. and there are both proponents and opponents of this in both democratic and republican parties, so it's going to be an interesting situation where we're going to have to stitch together the same kind of bipartisan effort in order for us to get it done. a second area that i think is possible is criminal justy reform. there has been sincere, serious negotiations and efforts by democrats and republicans. to create a criminal justice system that is more fair, more and is smarter about how we reduce crime. and i've really been impressed by the dedication and the core group of democrats and republicans, some of them, the most liberal democrats and the most conservative republicans coming together saying this is the right thing to do. we've got a good bill in the senate that passed with bipartisan support out of committee, my hope is that that gets to the floor. and that we can pair it up wi

even though we're much more efficient producers been tagged with a tax that makes our products uncompetitive in japanese markets. so this is a big deal. and i think speaker ryan would like to try to get it done. there are both proponents and opponents of this in both democratic and republican parties, so it's going to be an interesting situation where we're going to have to stitch together the same kind of bipartisan effort in order for us to get it done. one area i think is possible is criminal justice reform. there has been sincere serious negotiations and efforts by democrats and republicans. create a criminal justice system that is more fair, more even handed, more proportionate and is smarter about how we reduce crime. and i've really been impressed by a core group of democrats and republicans, some of them the most liberal democrats and conservative republicans coming together saying this is the right thing to do. we got a good bill in the senate that passed with bipartisan support out of committee. my hope is that that gets to the floor and that we compare it up with a good bill out o

even though we're much more efficient producers than tagged with a tax that makes all products uncompetitiven japanese markets. this is a big deal, and i think speaker ryan would like to try to get it done, and both proponents and opponents of this in both democratic and republican parties, so it's going to be an interesting situation where we're going to have to stitch together the same kind of bipartisan effort in order for us to get it done. a second area that i think is possible is criminal justice reform. there has been sincere, serious negotiations and efforts by democrats and republicans to create a criminal justice system that is more fair, more even-handed, more proportionate and is smarter about how we reduce crime, and i have really been impressed by the dedication of a core group of democrats and republicans. some of them -- the most liberal democrats and the most conservative republicans coming together saying this is the right thing to do. we got a good bill in the senate that passed with bipartisan support out of committee. my hope is that that gets to the floor and that we ca

though we're much more efficient producers as have been tagged with a tax that makes our products uncompetitive in japanese markets. this is a big deal and speaker ryan would like to try to get it done. and there are proponents and opponents in. both democratic and republican parties, and so it's going to be an interesting situation where we're going to have to stitch together the same kind of bipartisan effort in order for us to get it done. a second area that i think is possible is criminal justice reform. there has been sincere serious negotiations and efforts by democrats and republicans to create a criminal justice system that more fair, more even handed, more proportionate and is smarter about how we reduce crime. and i have really been impressed by the dedication of a core group of democrats and republicans. some of them the most liberal democrats and the most conservative republicans coming together saying this is the right thing to do. we have a bill in the senate that passed out of committee. my hope is that get. s to the floor. and that we can pair it up with a good bill out of the h

we're much more efficient producers has been tagged with a tax that makes, you know, our products uncompetitive in japanese markets so this is a big deal and i think speaker lili ryan would like to get it done. there's opponents and proponents in both parties and an interesting situation to stitch around the same kind of bipartisan effort in order for us to get it done. a second area that i think is possible is criminal justice reform. there has been sincere, serious negotiations and efforts by democrats and republicans to create a criminal justice system that is more fair, more even handed, more proportionate and is smarter about how we reduce crime. and i've really been impressed by the dedication of a core group of democrats and republicans, some of them the most liberal democrats and the most conservative republicans coming together saying this is the right thing to do. we have got a good bill in the senate that passed with bipartisan support out of committee. my hope is that gets to the floor and that we can pair it up with a good bill out of the house and this is an area where you potenti

the salaries are too high and they are so uncompetitive they're going to lose no matter what. they cannot keep going the way they're going regardless of what happens in the bond holders and they have to get over the idea that it's us versus them. they already lost. >> and i do wish there was more understanding within the federal government and congress. you had bernie sanders saying they're getting 10% and children are going hungry in puerto rico? those just don't match up obvio obviously and that does need to be paid more attention to on behalf of the federal government. >> is your main worry that oil hasn't bottomed and we're off back to the races again on high yie yield. >> there will be disasters. >> there's a bunch of factors that we have to be concerned about. that's one of them and we're all happy when we drive up to the gas pump. >> overall. >> the main issue is what will happen with interest rates. i'm pleased with how communicative janet yellen has been and that's important for the market and you've seen how interest rates have responded and any one thing could cause