dnc_email_25244.txt

dnc-emails 581 words email

P17 D1 D6 V16 V13

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Would only note that Cotton supports repeal of the estate tax. From: Yoxall, Collin Sent: Wednesday, April 20, 2016 4:01 PM To: Research_D Subject: RE: Video Request: Tom Cotton at Joint Economic Committee Hearing Witness: Laffer, Hodge, Grossbauer, Bernstein Cotton: taxes are necessary. Some good or some worse. Describe? Hodge: corporate, capital taxes are harmful, then income, consumption then property. All about mobility of taxes. We should keep that in mind. Full expensing helps put engine in economy. Laffer: progressive income taxes are killers. Incentives people trying to get around this. Cotton: saying to Sen Kloubechar about people moving to low taxes? Laffer: its umbrageous how important this is when people are moving. Cotton: Bernstein on hierarchy of taxes? Bernstein: more skeptical of movement of capital. Would make changes around inheritance. Step up basis distorted. Cotton: hodge? Hodge: we have profit shifting b/c of high corporate rate. Cotton: bernstin? Bernstein: avoidance isn't changed by lowering rate. Cotton: anything berstein on the hierarchy? Bernstein: corporate rate is a mess. The rate is high. Cotton: laffer? Laffer: but its also about expensing. Want to reduce cost to company and what people collect. Kansas criticism is unfair Bernstein. Evidence is obvious. Cant tax into prosperity. Cotton: I have the floor please continue lol. Bernstein: there are common views here. the panel does are on lowering rates and broadening base. Laffer and I have a factual difference disagreement. And will be happy to submit evidence to the record Sen Coats: happy to have it. Cotton: want to talk about equality of all those taxes? Fairness? Bernstein: Laffer and Hodge talking about growth. Broadly taxes are progressive; favorably in benafits is regressive. Hodge: personal tax cuts is popular but doesn't help growth. Capital cuts help. Balancing the politics and the policy is hard. Laffer: high rates are not paid by the higher earners. People like their own money and will move around to avoid taxes. Right to work states grow more. Berstein, I don't know where you are getting your evidence. Coats: you have raised berstein's name-response? Berstein: Laffer does not talk about Kansas. Education in KS in in trouble. KS is a failed experiment. Cotton: lets talk about AR. Impact on rural areas and estate taxes. People have image of rich people. AR example is timber farmers, businesses. What is the right solution? If not repealing estate? Bernstien: exemptions for couples is $11M. I would push the other way to lower the exemptions. Would meet revenue needs. Laffer: people move to lower taxes states. Howard Mexenbauer moved to Florida to avoid estate taxes. When we cut rates, we get more revenue. Cotton: I tap out. Thank you. From: Yoxall, Collin Sent: Wednesday, April 20, 2016 4:00 PM To: Research_D Subject: Video Request: Tom Cotton at Joint Economic Committee Hearing Starts at 19:00 mark https://www.youtube.com/watch?v=VRghTO5Bo9U Collin Yoxall Research Associate, DNC Office: 202-863-8126 X8126 Mobile: 334-703-1690 [email protected]<mailto:[email protected]>