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Brad Wall Street desperate -- -- maybe it is crazy ride is over fresh off one of the more volatile weeks -- stock market history.
Reports now that some insiders are starting to -- their own stock.
But it is by no means a stampede a specimen CEOs.
Former Hewlett-Packard CEO Carly Fiorina -- You gotta watch when I guess by that -- correlate.
It's a little hard to get over excited about this.
Well there was some insider buying last week and I'm pretty sure that most major corporations with the stock buyback program are looking at that program right now -- thinking about increasing it.
But look there's huge uncertainty -- what -- CEO would call lack of visibility.
And when there's a lack of visibility there -- risk aversion.
So big companies are parking lots of cash as you know big companies fortunately have growing markets overseas.
I think what we should be worried about right now is growth in this economy in the air for what we really need to be worried about a small businesses because.
The data is unmistakable their flat on their back cuts more small businesses are failing fewer small businesses are starting.
Fewer small businesses are hiring.
And that matters tremendously of course because small businesses create most of the jobs and employ most of the people so.
We've got a growth problem we have -- visibility problem and so no one is gonna be real bold in this environment.
On you know a lot of Democrats and and and those industries and arguing about all this a couple of tree and whatever it is Carly that corporations out.
All sort of -- -- on business it's taxes they say again at the top US rated 35%.
That if it is forgiven.
They can bring it back without any of that that high tax difference.
The corporations won't do what Washington wants to do they won't hire workers they'll just.
I just keep it leaving that aside.
Whether that's there -- -- not.
What what do you stake.
They should do if it -- they are allowed to bring it back to America should they hire more.
Or just that's that's they're there -- It's.
Well see I think the problem is we are stock in Washington.
On short term fixes.
Corporations had a one year holiday.
On a previous occasion one year isn't really enough to plan for what we need -- what is what's the table and -- the tax code yet at the rap against and that is that they didn't.
Without -- -- -- do anything so that what He said.
I think we need a total overhaul of the tax code.
We need to lower the -- so they're competitive we are the only nation on the face of the earth that taxes overseas profits we should get rid of that.
For all time not just for one year we -- -- close the loopholes.
In importantly we need to reduce the complexity in this tax code it is killing small businesses it's one thing for Hewlett-Packard.
To hire armies of accountants and attorneys to deal with thousands of pages of the tax code it's another thing for a small business do -- so I think we need to stop looking at short term fixes.
We need to look for a long term substantive solutions.
-- at the top of my list for job creation in big companies and in small companies is reform the tax code lower the rates close the loopholes reduce the complexity.
It would give a huge boost of confidence to this market.
And then of course we have to deal with the regulatory excess that strangling everybody.
But particularly small businesses.
No we do know either in the immediate future looks unlikely in the immediate future we -- -- week and weeks like reducing.
I think we do because I think people are uncertain and and again uncertainty creates two things risk aversion and volatility.
You know I eight hear a lot of people say well none of this is gonna get fixed till 2012.
And it frustrates me to hear that because I think Americans thank.
That they voted in Tony tan and they voted in 2008 and they voted people in to office to do things now.
People need to be focused on long term solutions.
Now not in 2012.
And those long term solutions include as I said in my view.
Tax reform fundamental tax reform.
-- -- Government and regulatory excess.
And most importantly for the medium and long term restoring the entrepreneurial foundation of this country we have to get small businesses up and going again.
And so I'd love to see a committee.
That looks at every single regulation on the books from the point of view of small businesses.
And start stripping away or postponing.
Or putting into hiatus every regulation that hurts a small business because it's hurting our economy.
In his leaving millions of people out of work.
Carly thank you could see you again.
Thank you -- --
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