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U. now the new president trump has ordered a full withdrawal of US troops in northern Syria as Turkey advances defense secretary mark as per tells fox news Sunday that American soldiers are at risk of being surrounded now what we're facing is US forces in a trap between a Syrian Russian army moving north to take on the Turkish army with that is moving south it puts us in a terrible position and this the protection safety of our service members comes first to me the search is reserved for a construction worker missing since the hotel under construction in New Orleans partially collapsed New Orleans fire superintendent to McConnell to we know different will stay in the rescue mode has obviously life safety is always our number one priority from from there hopefully get a rescue today I will then be to recovery for the two victims that we know that we have cranes have been brought in to help stabilize the structure near the historic French Quarter I'm in Kate's and I'm Susanna Palmer from Bloomberg world headquarters UK prime minister Boris Johnson told his cabinet today that a break that deal is achievable Johnson said that while a pathway to an agreement could be seen there is still a significant amount of work required and the U. K. must be prepared to leave on October thirty first in Brussels EU officials were briefed on the talks had not made enough progress and that the U. K. proposals were falling short of what is required for a deal negotiations are due to continue tomorrow Bloomberg has learned a Volkswagen AG is weighing options for its Lamborghini supercar brand this as V. W. moves ahead with an overhaul aimed at more than doubling its market value and getting ahead of an industry shakeout Volkswagen signal today that any decision on the Lamborghini brand is likely a ways off saying that it has no plans for sale or an IPO is it a Donald Trump says the U. S. is ready to go with more sanctions on Turkey in response to its incursion into Syria is after his defense secretary said the president ordered a deliberate withdrawal of troops from northern Syria to keep them out of harm's way trump said the administration could impose powerful sanctions if Turkey does anything in Syria the US considers to be off limits sources tell Bloomberg Saudi Aramco is board is expected to give final approval to proceed with its mammoth share sale more from Bloomberg Charlie Pellett those sources say the borders planning to meet with its advisers on the I. P. around October seventeenth it is shaping up to be the biggest in history people involved in the deal say about two percent of Aramco may be sold which could raise forty billion dollars the sale is key to crown prince Mohammed bin Salman strategy to fund of the diversification of the OPEC nations economy Charlie Pellett Bloomberg radio global news twenty four hours a day on air added tictoc on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries I'm Susanna Palmer this is Bloomberg this is the balance of power with David Westin rumored radio still to come this hour we talked to New Jersey governor Phil Murphy but first perhaps president trump's signal achievement of his first term was the conference of cut in taxes for corporations and for individuals but did the tax cuts go too far or for that matter not far enough I pose those questions two Americans for tax reform president Grover Norquist well where we didn't go as far as we would have liked with the corporate rate was taken to twenty one percent from thirty five the highest in the world down to twenty one which which in the middle of Europe when you add in our state and local income taxes up towards twenty five of the present one to go to fifteen percent at the federal level I still think we ought to do that look for the present Republicans if they have the ability to do so after the next election to go to a fifteen percent corporate rate we didn't make the expensing for new investment permanent was only good for five years that needs to be made permanent and on the small business level we went very close to getting small businesses passed through see corporate as corporations the same tax rate as larger C. corporations but we need to take the the amount of money you exempt from about twenty percent to twenty five percent to get more equity for smaller pastor corporations to go over the the stated rationale certainly for the expansion of capital investment and also to some extent for the reduction corporate taxes was to increase capital best but it went out for a while and they came right back down again perhaps because of uncertainty over trade didn't really accomplish what people promised it would well it it didn't in the long run absolutely you saw a lot of money come in from overseas use also American corporate earnings brought back but as the head of the apple said look we we brought back ninety billion ninety billion we're gonna bring it all back but right now we're not moving it from a bank in London because it no longer matters whether we keep our money in a bank in London or a bank in Topeka Kansas because there's no tax activity when we bring the money back so in effect all of American corporate earnings overseas our American earnings now they're available to be invested in the United States at a moment's notice no tax barrier anymore I think you're quite right that some of this slowdown from a three percent growth to two percent is because we have a great deal of uncertainty on the dealings with China and with Europe on international trade will go over has your portfolio expanded its for tax reform Americans and protection form our terms anything other than a tax I mean should we we were forming the terrible pro to the trump administration absolutely terrible our taxes for most of American history the number one tax that people pay wise the terror of we had a war with Europe over the paraffin our independence battle South Carolina called out its National Guard in the eighteen thirties because of the national terror the turf was a big part of the civil war I mean terrorists have long been a very powerful factor in American history we need to bring them down I understand the president's arguments about getting trying to stop stealing our intellectual property I'm just not sure tariffs are the best way to punish China they also punish American consumers were talking with Grover Norquist of Americans for tax reform Grover I know what you feel about the income tax where their personal or corporate were you an use taxes because even president Reagan really increasing use taxes and so for example if we're looking for the proposals from the democratic and present because they're proposing things like a financial transaction tax which is essentially a use tax were you and issues like that well if you're actually on the gasoline tax to build roads right now a lot of that money is siphoned off into transit a lot of that money is siphoned off into the general budget if you were actually using the gasoline tax to build roads and bridges you could make the argument that the use tax has some value words target but eight excise tax because you drink beer it's not a use tax jumping in for it is an excise tax it's a tax on the product unless there's a benefit from the government you pay gasoline taxes they build roads it's just another way to raise taxes on people and it sometimes they do that in order to give yourself how we should do this because we're punishing bad people who drink soda pop what what what what what what the financial transaction tax taxes or is that more like gasoline tax because in fact there is a lot of investment that supports the financial markets right here in New York City or is it more like an excise tax on beer it's an excise tax is just a way to get more money and I think that what you would do is chase trading away from the United States away from New York I think it's a it's a it's a terrible idea the taxes are too high we don't need to look for new ways to raise revenue what we do need to do is how to reform government so that it costs last how to fix our entitlements we can't possibly pay for the entitlements we have now even with tax increases we can't make that work and certainly can't pay for the additional entitlements some of the democratic candidates are talking about if they were to be elected president thanks to Americans for tax reform president.

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