Jared Bernstein Claims Raising Taxes Won’t Make Businesses Hire Fewer People

BERNSTEIN Both of those ░░░░░░░░ are true MACCALLUM But ░░░░░░░░ let me ask you ░░░░░░░░ me just go back ░░░░░░░░ if I can ask ░░░░░░░░ this straightforward question Do ░░░░░░░░ think that when interest ░░░░░░░░ go up and taxes ░░░░░░░░ corporations go up that ░░░░░░░░ decide to hire fewer ░░░░░░░░ BERNSTEIN Not necessarily There ░░░░░░░░ much more MACCALLUM Come ░░░░░░░░ BERNSTEIN There s much ░░░░░░░░ MACCALLUM I mean how ░░░░░░░░ people do you know ░░░░░░░░ run businesses who say ░░░░░░░░ oh my taxes are ░░░░░░░░ up I m going ░░░░░░░░ hire more people BERNSTEIN ░░░░░░░░ we ve actually seen ░░░░░░░░ little correlation between changes ░░░░░░░░ at the very high ░░░░░░░░ of the corporate tax ░░░░░░░░ and almost any economic ░░░░░░░░ that s of importance ░░░░░░░░ middle class families whether ░░░░░░░░ s taxes or wages ░░░░░░░░ I mean sorry whether ░░░░░░░░ s jobs or wages ░░░░░░░░ I ll tell you ░░░░░░░░ of the reasons is ░░░░░░░░ the tax hike that ░░░░░░░░ re talking about one ░░░░░░░░ them that you re ░░░░░░░░ to is a 15 ░░░░░░░░ minimum corporate tax rate ░░░░░░░░ only hits corporations over ░░░░░░░░ billion dollars of profit ░░░░░░░░ aren t paying the ░░░░░░░░ corporate tax rate which ░░░░░░░░ already 21 percent below ░░░░░░░░ of the top personal ░░░░░░░░ rate MACCALLUM All right ░░░░░░░░ these 700 companies that ░░░░░░░░ to PWC they all ░░░░░░░░ with you 50 percent ░░░░░░░░ than 50 percent disagree ░░░░░░░░ they re going to ░░░░░░░░ back BERNSTEIN Yeah watch ░░░░░░░░ they do not what ░░░░░░░░ say Watch what they ░░░░░░░░ MACCALLUM Okay we ll ░░░░░░░░ what they do So ░░░░░░░░ ll see what happens ░░░░░░░░ those are projections in ░░░░░░░░ of what they see ░░░░░░░░ No no I m ░░░░░░░░ hold on I m ░░░░░░░░ talking about projections I ░░░░░░░░ talking about historical correlations ░░░░░░░░ I will I ve ░░░░░░░░ about these and I ░░░░░░░░ Link to them econjared46 ░░░░░░░░ we get off of ░░░░░░░░ on my Twitter feed ░░░░░░░░ Please do BERNSTEIN That ░░░░░░░░ compelling and historical empirical ░░░░░░░░ between changes in corporate ░░░░░░░░ rates changes in capital ░░░░░░░░ tax rates and investment ░░░░░░░░ jobs and incomes Those ░░░░░░░░ tend to be far ░░░░░░░░ lower than what you ░░░░░░░░ suggesting here crosstalk MACCALLUM ░░░░░░░░ that may be true ░░░░░░░░ billion plus companies that ░░░░░░░░ re referring to and ░░░░░░░░ d love to see ░░░░░░░░ data BERNSTEIN I will ░░░░░░░░ it to you.”