Shortterm, BOB, Ireland discussed on Bloomberg Best


Us rather than make them here it's a both of those effects are positive for growth and that you could say well how how positive and we put out a study a few weeks ago where we estimated that ten years from now gdp would be between three and five percent higher i want to talk about this study and just won't gouge let me play something for you we have bob came at who are used to be numbertwo treasury other positions we had him on uh early in this program are we asked him because he was the general council actually the department treasury in eighty six when they read the less about the growth possible in he agreed with shortterm and he hit school concerns of the medium and longterm just listen to what bob had to say i think it will certainly boost growth in the near term where i think we need to watch very carefully as one of the mid to longterm effects and personally in that regard i think we have to go back to doing what we can to keep our deficit and debt under control so kevin what he was saying was bacne six they were much closer to revenueneutral that what this proposal looks like should we be concerned about the effects on growth quite specifically on growth of the sort of deficit worldwide here john right well absolutely free and anyone who says it doesn't is just wrong but the fact is that the numbers that we've been banning about about the costs of this bill are static scoring a numbers and egged on the corporate side especially firms aren't creating factories very much at the us at all they're putting them in ireland and other places and we're barely get any revenue at all we have the highest corporate tax in the developed world that almost no revenue because they're just moving the money offshore to us tax and so the idea that if we become an attractive location it's going to blow a hole in the deficit is just one that i would i don't accept the other way to think about the joint tax committee score in the 10th here is that this will reduce tax revenues at a static by about seventy billion dollars cbo gdp apps at the growth affects of this.

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