Gerard Baker
speaker
27 appearances
1 recordings
1 series
first heard Nov 2017
last heard Nov 2017
Gerard Baker’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Special Coverage: Mnuchin Says 20% Corporate Tax Is Firm · 14 Nov 2017
podcast
Does it worry you at all that people are maybe that expectations right now is reflected in the market and reflected in business and consumer confidence is maybe too high?
So you think a large part of that confidence is being reflected in things like market indicators is driven by an expectation that you're going to be able to get this, particularly this tax cut agenda through Congress?
That 20% corporate tax rate, most estimates suggest right now that companies, on average, because of the way in which they're able to work with the tax system, they pay an average effective rate of 18% or 19%.
Is that 20% rate enough, both in terms of the international environment, is it low enough in terms of the international environment to get the kind of boost to investment, in particular investment in the U.S., investment in jobs that you want?
And given that that seems to be like the baseline right now,
How important is it that it stays as close to 20% as possible?
Because there's some suggestion that as part of the compromise process, it may drift up.
You know very well there are a number of Republicans who have already come out in the House and said they can't support it.
The Senate does away with it completely in its proposal.
The House has a $10,000 cap for local estate taxes.
Is that something that you'd be willing to be flexible about?
Because that is very problematic for a lot of Republicans who are going to be up for re-election next year in some of those high-tax states like California and New Jersey and New York and Illinois.
A couple weeks ago, the president nominated a new chair for the Fed, Jerome Powell.
It was widely reported that he was your man, that you were very much supportive of him and that you wanted Jerome Powell.
Is that true, by the way?
Right.
Were you supportive of that decision before he made that decision?
The reason I'm asking is that he seems to be... We don't know.
There are going to be hearings and we're going to hear more about him.
He's made obviously a lot of speeches as governor in the last few years.
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