“We want the program to work and I think that sadly what we’re seeing is that the program is working quite well. And I say sadly because we are seeing tens of millions of people process through that system and we’re going to continue to see that I think for the next few weeks as the backlogs in certain states get worked through…”
In anticipation of the December jobs report number being released later in the morning, Brill joins the morning news program to discuss his predictions that the number “will be right on the quarterly trend.”
“I advocate and support a carbon tax, but not just blindly, not just any carbon tax. It is critically important that the carbon tax be revenue neutral. That at the time at which this policy is put in place its done in a matter in which the revenues expected to be generated from the carbon tax are used to reduce other taxes that are more distortionary. This is what we would call the principles of basic tax reform.”
On this episode of ‘Squawk Box,’ Brill discusses Bill Gate’s reaction to Senator Elizabeth Warren’s proposed wealth tax, as well as the capital gains tax.
“I think its a solid [GDP] number. Obviously the inventory piece creates a little bit of volatility and the investment numbers are a disappointment, but not a surprise. Overall we see a strong consumers. On the Fed, I would agree with Austin. What the Fed has to do now more than ever is try to block out the political noise, focus on the data and make the best call to boost their credibility or sustain their credibility.”
Today, Brill discusses President Trump’s potential appointment options for the Federal Reserve Board of Governors.
Watch Brill’s latest news clip from his CNBC interview where he discusses raising tax rates on the rich.
The fourth quarter economic reports show less growth than expected. Brill shares his opinion that “things are slowing a little bit around the world and its a little bit of a timing effect between the seasonal issues that we know and the shutdown issues as well.”
Brill discusses the opioid tax on big pharma in an interview for KSRO stating, “it’s going to result in higher prices for those opioids. But the out-of-pockets costs for the person filling the prescription is likely to remain the same.”
“I think we are going to see in 2019 that it is a little softer than 2018. We just came off of a 3.5% Real GDP quarter. I think the consensus that a little bit of a slowdown next year is correct. That said what is keeping the economy going is in part a fiscal boost, a little bit on the spending side, and on the tax policy side, both putting cash in people’s pockets.”