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tv   Documentary  RT  August 22, 2018 12:30am-1:01am EDT

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young kay you commission president i got there in the end quote young because it was done back in july that seems to alleviated some of those tensions bullets if donald trump design decides he wants to double down on a trade war against iraq well that would have an impact in the future this is the thing with dealing with this president and this white house we don't know what's going to come in the future that could lead to this and could to uncertainty and not could have an effect for the long run but as it stands the strong numbers posted by germany really that translates really into fairly decent growth across the whole of the single currency but the way italy the debt in italy is even worse than greece a but i will keep an eye out on maryland that is a very good soil are to correspond to pier oliver thank you for staying late over there in berlin peter and hilary forex the founder of that realm our thanks to you both. and time for a quick break but hang here because when we return now it's my heart all of it joins us from toronto to look at companies like the french company told how and
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countries that are trying to quit iran are going to quit you iran in light of the u.s. economic sanctions on the nation plus r.t. correspondent sara montana still also joins us to dig deeper about the week feeling month santal prophesied found in breakfast cereal and the executive director of a cold eyed tech center in american university professor donald williamson is back to examine the impact of the large u.s. tax cuts are they benefiting companies with those stock buybacks or individuals are they getting a big benefit you'll give us his perspective as we go to break the benchmark standard and poor's five hundred reached a record high today and they've equaled the longest bull run in history all green arrows on the big board today here at the numbers at the closing bell will be right back.
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but i am finally in a moment also if it can get a little now positive but i live downtown to the point about. finding it in your view would it be that easy to find a friend that out and you may. be a plus is it going to be muslims who live to go home it is. what i've done my bit about my little bit of a larger one about our little bit that we are shocked at that out of money going to know god much of the way for the mob not to go to jail but any. good wonders why. some boards of law.
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say. see. you can be no problem.
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welcome back venezuelan president nicolas maduro has announced a number of new economic policies aimed at fixing a myriad pressing problems including rampant inflation mr mcgirr also called for budget austerity increased pensions and a minimum wage increase of over thirty four hundred percent and proposals linking the value of pensions wages and a new ball of our currency he's proposed to the value of oil based petrol cryptocurrency tax measures including a that a value added tax that exempt food and medicine are also to take effect this week most observers say the math doesn't add up mr president even sympathetic economist half for years called on the venezuelan government to address fundamental imbalances in their currency exchange and import systems to boost domestic production and curb inflation and corruption. french oil giant toe
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tal has pulled out of a lucrative iranian gas project due to u.s. economic sanctions the five billion dollar deal to develop a giant natural gas field is now in limbo but help may be on its way artie's alex my hyla bitch isn't toronto with more alex thank you as always for being here why was total so quick to back down from from the project is it all to do with the sanctions. has everything to do with the sanctions look they were one of the first companies to come in after two thousand and fifteen when that new deal was signed and the u.s. along with a lot of european nations and others was all you know thumbs up for doing business with you rant well now it seems like there would be one of the first ones out and all the help in the world just doesn't seem from that at least from their friends at the french government and the e.u. doesn't seem to be able to put or put any influence on the u.s. government the u.s. government is refusing to sign any kind of waiver which would exempt total from being exempt basically from the oil and gas stations that are kicking in in
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november now for that company at this there's a reason that they're reacting this way by chickening out very very quickly and getting out of dogs or in this case the rand and that would be the fact that billions of dollars in that company and their assets are actually u.s. with i'll be around ten billion and the fact that ninety percent of the loans that they have are from you as banks so they are obviously highly vulnerable to these u.n. sanctions and for a company like that is that it's a major oil producer a bigger company in the game they don't want to have anything to do with any type of penalties that may be incurred so they're getting out of their hair but they're bolting you know it's so interesting alex and we've talked about this a number of times i mean right when the u.s. said they're going to pull out and then impose these additional sanctions on countries and companies remember the europeans present mccrone said no this day and we'll even compensate you well it doesn't look like that's a road that anybody in the euro zone is going and total being i guess the big one i
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mean what does this mean for iran alex. well of just what you said you know it's interesting also the chinese banks said well if the us don't want to fund you to a lot of these companies especially from europe there's a well we'll back you up but it doesn't seem like anybody is biting for that offer as when it comes to iran i mean this is obviously big news for them we're talking about a deal that would have lasted over a span about twenty years from two thousand and fifteen this is something they desperately needed in many ways so when they announced this and it was their minister actually they really an oil minister is name is john numb darr. zangana and so he when he basically said that these guys are going out of the south park project this was very disappointing for them because this whole the project itself was supposed to bring in modernization and just basically clean up some infrastructure that is very old but not everything said and done because in this project there's another investor that investor had about thirty percent and that might pump it up to eighty percent and that would be china as the chinese state
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owned companies see n.p.c. there there's a good chance that they may take up about eighty percent of this project now the other twenty percent would remain with the iranian government and china also has promised to buy more oil from iran so if those when the sanctions kick in they're going to be to help their to help and who's going to getting by that will be the states because china is going to lower its orders of american oil r.t. correspondent alex mahela bench thank you as always alex. thank you the other day. the other day we spoke about the environmental advocacy group the environmental working group which found a dangerous club aside glycine of fate used by the made by the monsanto company they found in cereal and months into a recently was bought by the german drug maker bear well we thought the topic merited a little bit more deeper discussion are pleased to be joined by our correspondents
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here i'm on to discuss so you've been looking into this and we're so pleased i saw you on other programs that are to america you were so great on it but it made me even question more we reported that bear stock went down but what have markets been doing since the end of last week so a bear stock went down last monday it really plunged and it continued to fall through thursday it seems like it's starting to pick a little bit back up but it lost eighteen percent of its value since the verdict and hundred percent and it's still lower than it has been in the last five years they must of you know when they bought months and they knew this the problems could come but they probably didn't know that this much would be the problem anyway let me ask you about the definition of what this level so the environmental working group but there are left leaning progressive i love them but there they are progressive groups out there so their standards might be a little the standards they use may be a little bit more strict than others and that the f.d.a.
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is that california that they're comparing this to saying that it's a problem using california standards fellow e.w. g. is comparing it to e.p.a. and california which are all obviously very different california's proposed risk is one point one milligrams of life again this is for adults e.p.a.'s level is one hundred forty milligrams and even lower at point zero one milligrams and e.w. is one one hundredth of the california proposed limit and. there have been several critics that have come out and said you know there might be some glyphosate in your cereal but there's nothing to worry about that doesn't mean that you shouldn't feed your children cereal in the mornings it's all about the intake a lot of people are voicing that it's mostly people who eat this on a daily basis and eat it you know throughout the day so it's just about the levels and california so this california is risk was developed by state scientists and this was after twenty fifteen the international agency for research on cancer claimed that life to say it was
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a probable carcinogenic to humans then after that was when california came out and said we need to put this as a cancer causing chemical. we're going to run out of time but i want to ask you one question that i'd like to have you back on this is somebody reevaluating this to make sure that levels the correct level that we don't get curtain cancer so the f.d.a. has been working on this since two thousand and sixteen since they are in charge of the e.p.a. food standards there is they did say quote the results are being evaluated and those results will be included when the agency releases the twenty seventeen pesticide report so we are waiting on that report to see where they want to get you back as quick as possible to continue this conversation. at thank you sir. and soft drink and their joint pepsico announced on monday that they will acquire a soda stream the israeli maker of do it yourself so of making machines for three point two billion dollars buying them out at a hundred forty four dollars per share more than ten percent above soda stream
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starts closing price on friday pepsi's move is the latest episode of soft drink makers seeking to adapt to consumers shift away from the usual sweetened sodas by marketing to others possible products such as sports drinks caesar carbonated water the acquisition also was reportedly one of the final initiatives of outgoing pepsi c.e.o. in drug needy who departure we covered here and now we shift gears to look at the impact to date of. the us tax cuts to lend us is able hand we are joined by american university professor donald williamson professor thank you for coming back we sure appreciate it thank you ok so we got to do this a little bit but i was so taken by our conversation let's do this more so glad you're here and the main question i have is book we know that a lot of these companies have taken the benefits and used it for stock buybacks one do you agree that's the case and is that a bad thing yes it is the case i don't think when congress passed the law they
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anticipated that to occur but it has occurred and the bottom line is what will those shareholders do with the money they received on the buy backs will they invest in capital intensive activities as was the intent of the bill or will they spend it on vacations or even worse maybe just take it overseas and hold it there for an vacations to spend it but i guess to get us airfare to get to get out you know i mean people expected that they were going to take this money and invested in new manufacturing and capital intensive things but that doesn't appear to be the case but as you say it may be though maybe they'll buy soda stream with interest so the jury's still out part ok now let's turn to individuals clearly the rate has been dropped. but is it really going to help when you sort of weigh the balances who does this tax bill help more corporate america or individuals well i think it helps both part of the rate cuts have extended both to corporations and individuals so that any taxable income the last dollar the marginal rate of tax is less for
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individuals the standard deduction for individuals has almost been double so that only about ten to fifteen percent of all americans will have to file what we call a schedule an itemized deduction form where they account for their trouble contributions taxes and mortgage interest and cetera so it's great simplified there and then the child tax credit has been doubled for those folks so it's two thousand dollars for every child under seventeen so it has benefited individuals it's a tough call as to whether those benefits outweigh. a the great benefits given the corporation and there's also the a lot of the deductions that were taken away i mean some of those were pretty important right yes there's no question about the mention of child care we're pleased that that's there and that helps working families but some deductions or a lot of deductions that were available for employees in their trades or businesses have been denied now. i mean i ask you to go into the way back machine and let's go back to the last time a major tax overhaul was passed president reagan
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a hero of lots of people the republican party and he was a pretty good president in my mind even though i didn't support him but that was the last time we had major tax reform compare the one nine hundred eighty six tax reform act to this one that just passed well the biggest difference that makes this bill so significant is the reduction in corporate tax rates we have gone from marginal rate for corporations of thirty five percent down to twenty one percent that is most significant the intent was to make american companies more competitive with their foreign competitors and also perhaps to repatriate some of those business activities that u.s. corporations were conducting overseas we'll have to wait and see that as well but that is the most significant from a company of corporate benefit that makes this bill more significant than the one thousand nine hundred six act a very interesting and last time we spoke we talked talked about a capital.

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