>> WE HAVE IT IS -- TAX REFORM A
>> WE HAVE IT IS -- TAX REFORM D
>> WE HAVE IT IS -- TAX REFORM T
BE MORE COMMITTED ABOUT THAT.
THAT'S AMERICAN JOBS AND GROWTH
FOR AMERICAN WORKERS, WE HAVE
THE LARGEST DELEGATION THAN
WE'VE EVER HAD IS TO SAY TO THE
BUSINESS AND COME INVEST IN THE
U.S. AND A GOOD U.S. ECONOMY IS
GREAT FOR THE REST OF THE WORLD.
MARIA: TREASURY SECRETARY STEVEN
MNUCHIN HERE IN DAVOS, ONE
SECTOR REACTING POSITIVELY TO
THE PLAN, THE TECHNOLOGY
COMMUNITY.
ON WHAT HE THINKS OF REFORM AND
IMPACT ON TAX PLAN, LISTEN TO
STORY IN THAT FROM THE YEAR 2000
TILL NOW WE CUT DEBTS BY 60%, SO
IT WAS ABOUT A MILLION AND NOW
LESS THAN A HALF MILLION.
IT'S NOT A THING THAT PRIVATE
SECTOR WOULD CHOOSE TO INVEST IN
SO THROUGH GRANTS WE GO THROUGH
THE PRIVATE-SECTOR COMPANIES
WHETHER THEY ARE SMALL BIOTECH
AND NEW INSECTICIDES FROM THE
DRUG COMPANIES, NEW DRUGS, NEW
VACCINES AND, YOU KNOW, IT'S
PURELY THAT THE GOVERNMENT MONEY
NOW, BY 2030 WE WANT TO BE AT
THE LOW 2 AND A HALF MILLION,
BUT UNLESS YOU ARE SERIOUS ABOUT
MALARIA, YOU WILL NEVER GET
THERE BECAUSE THAT'S A HALF
MILLION RIGHT NOW.
MARIA: HAS TECHNOLOGY PLAYED A
ROLE HERE?
>> TECHNOLOGY IS VERY IMPORTANT
BECAUSE THE SOFTWARE THAT LETS
US UNDERSTAND HOW TO INVENT NEW
DRUGS AND LETS US MODEL WHAT'S
GOING ON WITH THE MOSQUITOES,
HOW HARD TO GET ERADICATION, WE
HAVE VERY SOPHISTICATED SOFTWARE
MODELS THAT ARE BEING USED AND
THEN WE USE CELL PHONES TO TRACK
WHERE THE CASES GET THAT GPS
LOCATION, SO IT WOULD BE VERY
TOUGH TO DO THIS WITHOUT MODERN
DIGITAL TECHNOLOGY.
MARIA: BILL, I WAS READING AN
ARTICLE AND THIS WAS WRITTEN
LITERALLY ABOUT 15 YEARS AGO
WHERE YOU PREDICTED HOW THE
HAPPENING TODAY, WHETHER IT'D BE
WE ARE GOING TO BE ORDERING
GOODS AND HAVING THEM DELIVERED
AND ONLINE AND WE ARE GOING TO
BE TALKING WITH EACH OTHER, CAN
YOU TALK TO US ABOUT THE
IMPORTANCE OF AI AND HOW LIT
CHANGE THE ECONOMY?
>> WELL, IT'S SIMPLY BETTER
EXCITING IS THAT WHEN YOU HAVE
EXCUSERS THAT CAN SEE, THEN
LOOKING SAY ON A REFORM, WORKER
IS NOT WEARING A HELMET, IS
THERE A SPILL SOMEWHERE, IN THE
HIGH-VALUE ENVIRONMENTS WHETHER
IT'S OPERATING ROOM OR A JAIL OR
A FACTORY, COURTHOUSE, YOU'LL BE
ABLE TO TRANSCRIBE EVERYTHING
THAT'S BEING SAID AND YOU'LL BE
ABLE TO SEE THINGS IF THEY'RE
SAFETY VIOLATIONS, EVEN A
CONSTRUCTION SITE AND SO YOU'LL
BE FAR MORE EFFICIENT USING
RESOURCES, FAR MORE AWARE OF
WHAT'S GOING ON AND IT'S VERY
CHEAP NOW BECAUSE COMPUTERS CAN
SEE AND HEAR AS WELL AS HUMANS
CAN.
MARIA: YOUR FOUNDATION HAS ALSO
FOCUSED ON JOBS WHERE WE DON'T
SEE MANY JOBS AND I WANT TO ASK
YOU ABOUT THAT IN RELATION TO
AI, PEOPLE ARE WORRIED IN TERMS
OVER FOR HUMANS?
>> WELL, CERTAINLY WE CAN LOOK
FORWARD TO THE IDEA THAT
VACATIONS WILL BE LONGER AT SOME
POINT, IF WE CAN ACTUALLY
PRODUCE TWICE AS MUCH AS WE MAKE
TODAY WITH LESS LABOR, YOU KNOW,
THE PURPOSE OF HUMANITY IS NOT
JUST TO, YOU KNOW, SIT BEHIND
A TERRIBLE THING, IT'S NOT A
CASE OF SHORTAGE, NOW, THE
GOVERNMENT IN TERMS OF ADJUSTING
AND HAVING SAFETY NET THAT WORKS
SO PEOPLE CAN GET RETRAINED IT
WOULD BE CHANGES BECAUSE THE
RATE OF CHANGE WILL BE FASTER IN
THE NEXT 20 YEARS THAN IT'S BEEN
BEFORE.
THIS IS A PROBLEM OF EXCESS
WHERE YOU CAN MAKE EVERYTHING
AND SO CAN YOU REDIRECT PEOPLE
TO HELP THE ELDERLY TO REDUCE
CLASS SIZE, TO HELP OUT KIDS
WITH SPECIAL NEEDS, YOU'LL HAVE
THE RESOURCES BECAUSE YOU'LL
JUST BE SO MUCH MORE PRODUCTIVE.
CUTS, DO YOU THINK THIS WAS A
COMPLICATED TAX CODES.
HAVE TO SAY DID IT SERVE
WHATEVER YOU WANT TO DO ABOUT
EQUITY, AND I WON'T SAY SCORE
HIGH ON THAT, LONG-TERM
AFFORDABILITY.
BUSINESS ENVIRONMENT GOING INTO
IT, SO I DON'T SEE IT AS A HUGE
PLUS OR HUGE MINUS, WHEN YOU
STEP BACK AND LOOK AT WHAT WE
ARE FOCUSED ON WHICH IS HELPING
THE WORLD'S POOREST.
OVERSEAS, WOULDN'T THAT BE
SOMETHING THAT ENCOURAGE LARGE
COMPANIES LIKE TECHNOLOGY, LIKE
A MICROSOFT TO TAKE MONEY BACK?
>> WELL, OUR MONEY IS ALWAYS
BEEN ACCESSIBLE.
APPLE ISSUES BONDS, MICROSOFT
ISSUES BONDS, APPLE BUYS
MICROSOFT BONDS.
THE MONEY REALLY WASN'T LIKE
SITTING IN SOME FAR AWAY PLACE,
YOU KNOW, COMPANIES DECIDE TO
ASSET STRUCTURE, SO, YOU KNOW,
FINE, BUT IT DOESN'T REALLY
CHANGE WHICH PROJECTS ARE
STARTING, HOW MANY ENGINEERS ARE
ON THE EMPLOYMENT SITUATION
RIGHT NOW BECAUSE THERE'S THIS
WE HAD HIM EARLIER, HE WROTE A
LETTER TO PRESIDENT TRUMP, WE
NEED TO PROTECT THE DREAMERS IN
TERMS OF DACA, WHEN YOU SEE
UNEMPLOYMENT SITUATION IS, IT'S
ALMOST FULL EMPLOYMENT, WE NEED
IMMIGRANTS TO COME IN, ISN'T
THAT RIGHT, HOW WOULD YOU
CHARACTERIZE THE NEED FOR WORK
TODAY?
>> WELL, WE BUILT THE COUNTRY ON
IMMIGRANTS.
WE ARE A VERY LUCKY COUNTRY
WHERE LOTS OF HIGHLY ENERGETIC
AND TALENTED PEOPLE WANT TO COME
TO THE COUNTRY, EXACTLY WHAT THE
POLICIES SHOULD BE IS
COMPLICATED.
PEOPLE WERE YOUNG WHEN THEY CAME
HERE, THEY HAVE SPENT MOST OF
THEIR LIFE IN AMERICA, YOU KNOW,
THEY WANT TO CONTRIBUTE, I
CERTAINLY BELIEVE THAT WE SHOULD
ALL WANT THEM TO STAY AND
CONTRIBUTE SO I'M HOPEFUL THAT
THE DREAMERS CAN BE PUT -- YOU
STILL HAVE A LOT OF IMMIGRANTS
WHERE YOU WANT TO CLARIFY WHAT
THEY SHOULD GET, WE COULD GET
MARIA: LET ME END WHERE I BEGAN,
MALARIA AND FOUNDATION, HAS IT
BEEN AN EASY SELL FOR YOU, I
KNOW IT'S LARGELY COMING FROM
GOVERNMENTS, DO PEOPLE
UNDERSTAND THE IMPORTANCE OF THE
ISSUE, DO THEY UNDERSTAND THAT
WE ARE NOT WHERE NOT WHERE WE
NEED TO BE IN TERMS OF
LONG TIME.
OUR BEST CASE IS WHERE PEOPLE
ACTUALLY HAVE AN OPPORTUNITY TO
WHETHER IT'S POLITICIANS OR
SCIENTISTS, ENCOURAGING THEM TO
GET OUT THERE AND SEE THE GREAT
PROGRESS.
