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| TIME | SPEAKER | TEXT |
|---|---|---|
| 00:00:04 |
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WE'LL TAKE YOU LIVE TO A DISCUSSION OF FINANCES AROUND THE COUNTRY. WE'LL HEAR FROM TAX EXPERTS AND... |
| 00:01:10 |
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CLASSICAL MUSIC. |
| 00:02:29 |
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GOOD MORNING. HOW IS EVERYBODY? WELCOME TO THE LATEST IN THE TAX ANALYSIS SERIES OF DISCUSSIONS ON... |
| 00:07:06 |
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THANKS, I REALLY APPRECIATE TAX ANALYSTS DOING THIS TODAY. AS A STATE PERSON THERE ARE DAYS WHEN WE... |
| 00:13:16 |
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A COUPLE OF OTHER KMEPTS I WANT TO MAKE, ONE IS THAT CHRIS ALLUDED TO, WE'RE VERY CONCERNED, THE STIMULUS... |
| 00:18:17 |
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THANK YOU, SCOTT. NICK? |
| 00:18:18 |
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THANKS, CHRIS. THANKS TO ALL OF YOU. I WANT TO APPRECIATE TAX ANALYSTS FOR HAVING THIS FORUM AND... |
| 00:24:59 |
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WHAT SHOULD STATES DO GOING FORWARD? LIMITED OPTIONS. DO THEY CUT SPENDING? DO THEY RAISE REVENUES?... |
| 00:34:05 |
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THANK YOU, NICK. JOE? |
| 00:34:08 |
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THANK YOU. FIRST I WANT TO APOLL GIRZ MY VOIZ, I'M GETTING OVER BEING SICK. SO YOU'LL HAVE TO BEAR... |
| 00:50:52 |
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DOUG? |
| 00:50:54 |
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THANKS, CHRIS. I, TOO, WANT TO THANK TAX ANALYSTS FOR THEBEING HERE. I HAVE BEEN PRACTICING STATE-LEVEL... |
| 01:10:15 |
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IT AIN'T PRETTY OUT THERE. WHICH IS WHY WE THINK THIS CONFERENCE IS SO VERY IMPORTANT. I'M GOING TO... |
| 01:11:47 |
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THANKS, DAVID. YOU KNOW, SO CALIFORNIA HAS A RELATIVELY HIGH MARGINAL TAX RATE. IT WAS INCREASED... |
| 01:15:18 |
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CAN I SAY A FEW WORDS? |
| 01:15:21 |
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SURE. |
| 01:15:22 |
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FIRST I'LL JUST NOTE THAT I'M ONE OF THE PEOPLE THAT MOVED FROM MARYLAND TO VIRGINIA FOR TAX REASONS... |
| 01:15:35 |
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DO YOU MAKE OVER $250,000 A |
| 01:15:39 |
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I WISH. IT WAS PARTLY THE TAX RATES. HIGHER TAXES IN MARYLAND. WELL, THE SALES TAX INCREASE. BY ANYWAYS... |
| 01:17:08 |
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DOUG, YOU WANT TO TAKE ON THE CORPORATE QUESTIONS? |
| 01:17:16 |
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SURE, I WOULD BE HAPPY TO. WE SPENT A HALF DAY DEBATING THE MERITS OF THE REPORTING. I THOUGHT I CONVINCED... |
| 01:21:41 |
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WE CAN CONTINUE THAT AFTER. |
| 01:21:44 |
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WHO ELSE WANTS TO JUMP IN HERE? |
| 01:21:52 |
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I HAVE THIS SENSE OF DAY JAWEJA VU EVERY TIME THE ECONOMY GETS BAD. WE HAVE TO DO SOMETHING ABOUT ... |
| 01:22:39 |
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WE NEED TO BRING BACK THE WILLIS COMMISSION AND TAKE ANOTHER LOOK AT IT. |
| 01:22:51 |
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I THINK WE ALL SHARE THE FRUSTRATION. THAT FRUSTRATION LED TO TAX ADMISSIONS. A LOT OF POLICE REPORTS... |
| 01:26:16 |
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SCOTT, YOU WANT TO TAKE A CRACK AT THIS? |
| 01:26:20 |
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I AGREE WITH NICK. IT'S FRUSTRATING. I'VE LIVED THROUGH DOWNTURNS AND UPTURNS. WE HOPE FOR MAJOR... |
| 01:28:01 |
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OUR FOCUS IS DEFINED BENEFIT PENSION PLANS FOR EVERYBODY. WE ADVISED THE GOVERNOR OF CALIFORNIA IN... |
| 01:28:52 |
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THIS IS NOT MY AREA OF EXPERTISE. WHAT I HAVE HEARD IS -- I THINK IT WOULD BE VERY DIFFICULT TO TAKE... |
| 01:29:06 |
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THE FEDERAL GOVERNMENT DID CHANGE ITS SYSTEM IN THE EARLY '80 FROM THE OLD TRADITIONAL VERY GENEROUS... |
| 01:29:36 |
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I WOULD AGREE. |
| 01:29:38 |
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I GUESS THIS IS NOT MY AREA OF EXPERTISE, EITHER. TWO THINGS CHANGING IN THE AREA. ONE IS THE ACCOUNTEDING... |
| 01:30:38 |
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THESE LONG-TERM IMPLICATIONS. THE OTHER THING IS HEALTH CARE. THIS IS NOT A BOOKKEEPING ISSUE. THIS... |
| 01:31:21 |
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QUESTION OVER HERE. |
| 01:31:23 |
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CHRISTINE HARRIS. TAX ANALYST AT TAX.COM. WHAT MESSAGE WOULD YOU HAVE FOR THE OBAMA ADMINISTRATION... |
| 01:31:54 |
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WHAT WANTS THAT? |
| 01:31:57 |
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I'LL START. I MEAN -- GO AHEAD, NICK. I THINK THAT THE FIRST MESSAGE IS THAT THE STIMULUS FUNDS HAVE... |
| 01:33:32 |
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WE HAVE ANOTHER ONE IN THE AUDIENCE? COME BACK HERE. |
| 01:33:44 |
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I'VE SEEN TWO GOVERNORS. MITCH DANIELS FROM INDIANA, I THINK, TALKING ABOUT THE NEED TO LOOK AT WHAT... |
| 01:34:10 |
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I THINK IT'S GOING TO HAVE TO HAPPEN. IT'S A SHAME IN THE STATES WHERE IT DOESN'T. AS I MENTIONED IN... |
| 01:35:59 |
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TRACY GORDON, UNIVERSITY OF MARYLAND AND EXCALIFORNIAN. I'M TEMPTED TO TRY TO DEFEND MY HOME STATE... |
| 01:36:43 |
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WHO WANTS THAT? |
| 01:36:54 |
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I AGREE. |
| 01:37:05 |
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AND REPLACE IT WITH WHAT? |
| 01:37:07 |
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THE CORPORATE INCOME TAX. DAVID IN THE PAST HAS BEEN A FAN OF GETTING RID OF IT. I THINK STATES NEED... |
| 01:38:41 |
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I'LL GO HERE AND THEN GO THERE? |
| 01:38:42 |
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ARE YOU SAYING YOU WANT TO KEEP THE TAX IN ORDER TO GET RID OF IT? POLICYMAKERS SHOULD BE CAREFUL.... |
| 01:39:09 |
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I'M SORRY. I BLURTED OUT BEFORE. |
| 01:39:12 |
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I DIDN'T SCOLD YOU. |
| 01:39:17 |
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I NEED TO EXPOUND ON THAT FOR A MOMENT. IN THE LATE 1960s WE WERE CONCERNED ABOUT THE MULTIPLE FILINGS... |
| 01:41:17 |
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I HAVE A FEW QUESTIONS THAT ARE SOMEWHAT RELATED AND MIGHT BE A LITTLE JADED. IS PART OF THE REASON... |
| 01:45:58 |
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MY NAME IS STEWART. I'M A STATE TAX PARTNER IN PHILADELPHIA. I'M ALSO CURRENTLY THE CHAIR OF THE... |
| 01:47:12 |
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NO ONE AGREES WITH YOU MORE THAN BUDGET AN FINANCE PEOPLE. THE PROBLEM IS THE POLITICAL PROBLEM WHICH... |
| 01:47:48 |
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ON THE ARTS, CHRIS MENTIONED THE PENNSYLVANIA INITIATIVE EARLIER. FORTUNATELY THE COMMON SENSE WAS... |
| 01:47:59 |
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LET ME MAKE ONE MORE COMMENT. I APOLOGIZE THEY HAVE AN URGENT MEETING TO LEAVE FOR, BUT I WANT TO... |
| 01:49:11 |
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THANKS, SCOTT. TRUST ME, SCOTT HAS A REALLY, REALLY GOOD REASON TO LEAVE EARLY. THANK YOU VERY MUCH.... |
| 01:49:27 |
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DAVID BERNARD. BEFORE WE LEAVE I WOULD REALLY LIKE TO HEAR DOUG AND NICK AND JOE'S VIEWS ON THE PARSKEY'S... |
| 01:49:49 |
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OKAY. JOE WILL GO FIRST. IT'S BEEN A STRUGGLE FOR ME BECAUSE I'VE BEEN SITTING THERE WRITING A REPORT... |
| 01:51:53 |
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IT HAS GOTTEN A FROSTY RECEPTION AND, YOU KNOW, WE SHOULD BE DISTRUSTFUL OF THINGS THAT HAVE BIG QUESTION... |
| 01:53:07 |
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YOU KNOW, LET ME ECHO JOE'S COMMENTIS AND THINK HE'S SPOT ON WHEN HE SAYS THE BIGGEST QUALIFIER THROUGHOUT... |
| 01:54:10 |
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I THINK WE'VE GOT TIME FOR ONE MORE QUESTION. OKAY. BOOM, BOOM, BOOM. |
| 01:54:18 |
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I WAS JUST GOING TO SAY, WHAT MAY HAVE BEEN A BIGGER FLAW WITH THE WHOLE REVENUE COMMISSION IN THE... |
| 01:55:02 |
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THANK YOU. |
| 01:55:06 |
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MY NAME IS CLINT CUR WE THE WASHINGTON RESEARCH GROUP, AND I'M HERE ABOUT TRANSPORTATION AND INFRASTRUCTURE... |
| 01:55:20 |
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IT WOULD HAVE TO BE NICK, I THINK. NICK? |
| 01:55:27 |
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I'LL PASS. |
| 01:55:29 |
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I THINK TRANSPORTATION IS IMPORTANT. I THINK WE DO -- A LOT OF STATES ARE VERY CONCERNED ABOUT THE... |
| 01:56:37 |
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DO YOU THINK WE HAVE ONE LAST QUESTION OVER HERE? |
| 01:56:39 |
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YES. ELLIOTT DUGAN, MULTI-STATE TAX COMMISSION. I DON'T HAVE A QUESTION. I HAVE COMMENTS. |
| 01:56:45 |
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OKAY. WE'LL CLOSE ON THAT, THEN. |
| 01:56:49 |
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AGAIN, A VERY GOOD CONFERENCE. FROM MY POINT OF VIEW IT'S TWO YEARS TOO LATE BECAUSE THIS HAPPENED... |
| 01:57:53 |
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OKAY. |
| 01:57:54 |
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AND SECOND. WHAT DO WE DO ABOUT THIS? THIS IS A POLITICAL PROBLEM AND I THINK WE HAVE TO AGREE WITH... |
| 01:59:11 |
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LET ME CLOSE WITH THREE THANK YOUS. FIRST OF ALL, LET ME THANK THIS WONDERFUL PANEL OF SPEAKERS. ... |
| 01:59:53 |
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CLOSING WORDS AT THIS EVENT ON U.S. STATE FINANCES. THE NATIONAL PRESS CLUB HERE IN WASHINGTON. A... |
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.
