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, user's guide to taxes. big change is coming. he will get you prepared tonight . and america's worst charities, is essential advice on giving wisely this christmas. we're watching out for you tonight on "the willis report." ♪ gerri: welcome to "the willis report." your show, your money, your voice. tonight your health care costs. new warnings of how the architect of obamacare processing you can keep your doctor if you paid up with more on this, it has some fire, health fellow at the heritage foundation. dr. kevin campbell, cardiologists will we're talking about, over the weekend, ezekiel emanuel said that, yes, you can keep your doctor, but you may have to pay more. listen to this. >> he asked a question, if you like your doctor, you can keep it. did he not say that, sir? >> did not say you could have unlimited. >> a simple yes or no question. >> yes. if you want to pay more for an insurance company that covers your doctor, you can do that. this is a matter of choice. you pay more for a wider range of choices or wider range of benefits. gerri: you are a doctor. did this come as a s
, the horrific tax code, less opportunity for people to rise up. >> rick, he is criticizing something that happened under his watch. >> yeah, here's the problem that i have. first of all, and john will love hearing me say this. i'm not sure that government is a big answer. >> we are all happy to hear you say that. >> i knew you would be. but here's the problem. most people analyze this in terms of do you think obama's policies produce growth, anti-growth. growth is actually not the issue because it only matters if it's shared. if a company that's making $14 billion in profits this year makes $20 billion next year, what's the difference if they don't are the benefit? >> but john, it is kind of the issue because sometimes a rising tide lifts all boats to quote john f. kennedy, rick's favorite president. if you look at what happened under the reagan term, the lower 20% and the top 20% increased by double digits after those tax rate cuts. >> i'm one of those people who believes that income and equality is unrelentingly beautiful. when that expands that means that life-style and equality i
are going to deliver the best business blockext. neil takes it away. >>> pump it, then tax it. i don't know about you, you've had enough of it. welcome, everybody. follow the money if you can even find the money. because it is not easy to get out of the democratic congressman when he's looking for money. not just a little re money. oregon's guy wants to double the taxes because he says our infrastructure needs the dough. i asked can you spell out for me congressman where that $42 billion has gone? >> the sbujt available for every state. the budget is available for every state. >> if the goal was to fix roads and bridges, and they're still, accurately to your point, falling apart, me think someone has stolen it, someone it was taken it. >> wow. >> wow is right. i should never have interviewed somebody with a bicycle pin on their lapel but that's neither here nor there. here's the deal, if we're already collecting more, than 120 million bucks each year to fix our roads and bridges. i haven't factored in the $800 million in stimulus money that was supposedly going to shovel ready road jobs, ar
that. by your gifts online, paying tax, others don't, supreme court doesn't want to get in the middle of it. judge andrew napolitano has no problem getting in the middle of that. and then, consolidating your wallet into just one card. the high-tech idea could be the way we shop in the future. it is all coming up along with dagen mcdowell on "markets now." dagen: giddyup. changing out of the shirt you had done earlier and now you look more businesslike. connell: i will take that as a complement on both sides. i have no other choice but to check the market and talk to the judge. dagen: we have to hit your slender. we have gains on the market right now despite the better-than-expected numbers from adp, nicole petallides at the new york stock exchange. nicole: you mentioned adp, which was better. we also got new hom home sales numbers better than expected, we are seeing the market with three straight days of selling and they might have scooped up some opportunity. right now dow jones industrial of 41 points, a gain of one quarter of 1%. microsoft hitting new highs, goldman sachs and unite
with the reliability of fedex. neil: first the tax hikes and now the spending streets. raises and hiking spending across the board. the state is now running a surplus according to reports. fox news radio host with us now. >> yes, i spent 30 years in sacramento. i am telling you, that is fiction, the fact that they have this surplus. not only in thestate of california, but illinois, his huge pension obligations and they pretend that those don't exist. and they are off the books. because of your add-in that is, we are talking that we cannot afford could have a $45 billion surplus this year. by the time summer comes around and that will grow until 2020 every single year. and they raise taxes by about $6 billion and it ties in perfectly and the problem is they have an obligation for their pensions, the two big state pensions and health obligations of 300 billion for the pensions and another hundred billion fr the health care for the retirees. $400 billion and not even addressing this problem. neil: let me ask about how they are able to sneak in raises for themselves as politicians back in 1990 they s
that would dramatically lower taxes in detroit, bring the corporate income tax down to five percent, the personal income tax down to five percent, make the capital gains tax zero, take the payroll tax and bring it down for the employee and the employer. without bringing any new money to detroit, just leaving money in detroit is over a billion dollars that would stimulate detroit's economy. >> basically a flat tax but flat nonetheless. >> absolutely. flat and very low. we also look at regulations and try to get rid of the owner's regulations that's making it expensive for city government and for businesses to locate in detroit. we think if you combine all of this, that it would be the model for how you would rescue cities across the country but any impoverished area. we have impoverished areas in eastern kentucky. we think this same plan would rescue them and parts of louisville and other major cities. >> maybe the country while you're at it. we have had five years of spread the wealth. you didn't build that. share share economics. where has obama failed detroit? >> here's the proble
$100 billion. john: you said that? [laughter] to george clooney. >> he says raise taxes. >> to drive a toyota petraeus to the ms -- jemmies but they have a private airplane and i wish i had a private airplane. >> many advocate to raise taxes but well-connected celebrities are quick to use your tax dodges. >> owning acres of land in new jersey but pays only $100 of state property tax because he raises honeybees' he qualifies for the honeybee subsidy. bruce springsteen owns hundreds of acres of land but pays little tax because a an organic farmer works his land his pour neighbors pay more. >> i don't get anybody trying to lower taxes but bonn jovi and springsteen publicly supporting for obama holding rallies but then cry tax cuts for their riches and they robbed of poverty programs and a social contract with america being destroyed the middle-class is harmed but then you rob those anti-poverty programs by calling yourself a former? that is the hypocrisy that is frustrating to see why i wrote the book calling of these people on their duplicity. john: one final example some of the activi
't the way to do it. the earned income tax cret does it. take this out of politics. take this out of unions. remember, 67% of people that make minimum wage work part time. $53,000 a year is what the average person who makes a minimum wage, that household, makes. this does not do a lot for poverty but it does hurt sma business. >> does it hurt the young people, the college students who are flipping burgers? they don't want to make a career of it but they're part time and raising the wage would probably get them out of a job. >> actually, i totally disagree with that. there's very little evidence to suggest that. a modest increase in the minimum wage, tying it to inflation, actually has a net job loss. >> they're asking for double. >> i don't think that's appropriate. i support the president's call to raise the minimum wage. as he said in february, tie that to inflation, tie that to cost of living. that makes nse. how can anybody earn a living on $15,000 a year? doesn't make sense. i don't support a whole sale increase of it to 15. i think that would be too much. tying the minimum wage to inf
white house quietly pass a rule giving unions a huge tax break under obama care? that investigation is next. later, a bus full of kids so out of control the driver had to call the cops. wait until you hear who wound up in trouble. >> [ bleep ] focus on what you're doing. what if you hit somebody? you think it's [ bleep ] funny, look at me like a man. you want to grow up and be a man? look at me like a [ bleep ] man. ] i better take something. [ male announcer ] dayquil cold and flu doesn't treat all that. it doesn't? [ male anner ] alka-seltzer plus fights your worst cold symptoms plus has a fast-acting antihistamine. oh, what a relief it is! >>> from the world headquarters of fox news, it's "the kelly file" with megyn kelly. >>> well, for several weeks now we have seen reports about unions complaining over a new obama care tax that is reportedly pricey. we are trying to learn if this administration has quietly passed a rule giving unions a very big break on that tax. trace gallagher has the story. >> reporter: the tax is called a reinsurance fee. it's on nearly every health plan fo
which is trying to make a big stink about this suggesting that they wouldn't, for example, allow tax cuts or other types of things for certain companies and not others, right? this is whether we should have tax cuts. >> this happens all the time. totally incestuous between public and private constantly. look at places like illinois now where any company that stays is getting some kind of a deal except probably the small ones. >> except the small ones. any company of any size is getting a deal. >> maybe the rolls should be across the board nothing? >> no. >> a friend of mine, joannea kagan. >> didn't bob kraft do it in foxborough? >> i don't know enough. >>> let's talk about the next story. if you work on wall street and are considering growing a beard, an article in "the new york times" says that while beards are in fashion right now, that is not the case in the finance industry. i guess it's okay in fashion, it's okay in design. a lot of different areas if you're a helpster but in the fashion world, gentleman, the argument goes it looks like you have something to hide. >> you could
in detroit simply by lowering the taxes in detroit. >> it's like kemp's enterprise zones on steroids. i looked over the plan. you're calling it the freedom plan. you will give eligible areas a reduction in individual and corporate tax rates. correct? yes. we'll take personal and corporate tax down to 5%. bring the payroll tax down for the worker and employer. and we'll reduce the red tape and let businesses thrive. we'll invite entrepreneurs from around the country and around the world who want to come to detroit and make it like a mini hong kong. there are great things you can do the. it's amazing how much money accumulates not from other parts of the country but just from detroit's tax base if you don't take it to washington. you leave it in detroit. >> you're saying you will reduce the personal tax liability to 5%. can you do that? you're senator rand paul, one senator. how do you accomplish -- i like the idea. i'm asking how you accomplish it. >> well, if i were president obama i would do it by edict. i'm just a senator so we have to pass it as legislation and get the president to s
. >> in the '80s and '0s we did not have just a tax increase of cuts but that have been dip this year that could have called is like having 400,000 jobs crted because we're not in stimulus motive to do more. it wasood news. >> so if we have a government is shut down assembly will have a quarter reported taken off for gdp what a powerful economic engine and then we have third quarter gdp growth of 3.6% iested a couple years it a good jobs ever. i thought the sequester were to be devastating? >>. >> the more it cuts spending the better for the private sector when dispense the dollar i don't understand the logic. >> we pay people borrow money not to work and people are working. that does not make sen. >> to give emergency benefits where does the money come from? >> if we give you a tax cut they will put it in their pocket. >> we have to make sure that people need the jobs and food get it. >> with 47 million people? people largely a pretty good job. >> of course, the we should not said that giving a lot more welfare benefits was better for the economy that it be better with 30 billion forth three or
, attacking labor. everybody makes way too much money in detroit and that's the problem. low taxes. of course, we've got to cut taxes. but here's the catch. wi withholding state money from the city has helped crush the city of detroit. now, i don't know what city you live in. but let's just think about this. all of a sudden, your city, and you pay state taxes, you're not going to get any state funds anymore. oh, no, no, no. you live in who struck john usa. no, you don't get taxes anymore. the state legislature is holding the money from you so you have to suck it up. the numbers are pretty staggering. you've got deregulation of wall street, which has also hurt the pensions and when it came back, how much money did that go to the pension fund to help out oh? detroit lost roughly 300,000 jobs over the past 30 years. there is no way a city survives when it loses 90% of its manufacturing base. the tax base has eroded, along with public services and public safety. what's the result? people are getting the hell out of town. severe outmigration. and those who are staying there are getting stuck with
all boats. we don't need redistribution tax hikes, we don't need state run health care, more spending, lower the incentive barriers and bring us growth. here's another big problem for president obama, the millennials are abandoning him and obama care in droves. a new poll shows plunging support from young people. because the obama care website is in such bad shape, the government now has offered to bail out insurance company profit and losses, and in a possible second bailout, provide the insurers with guest estimates of health care subsidies. this whole story has gone haywire. all right? all of this and more coming up on "the kudlow report" beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." we're live here at 7:00 p.m. eastern, 4:00 pacific. president obama tries everything we can to get the attention away from the obama care, anything. today he went back to his old stand by, the rich. for more on the president's remarks about, quote, income inequality, end quote, let's bring in nbc's own steve handelsman. steve. >> reporter: larry, thanks
should not be fooled by that. ashley: commuting get as little more taxing. the amount of workers can put transit costs cut in half by congress. at least those with the train. that is outrage. tracy: because they have drive evers? in tech minute we'll review lg's curved glass phone which is about to hit the store shelves. ashley: the dow has been down over 100 points for a long time but as you can see, desperately trying to make a comeback, down 99 points or there abouts. the market has been under a little bit of selling pressure these last several days. get breaking news on the fed beige book. peter baron's with the details. peteer? >> hey, ashley and tracy, the beige book for november says the economy continued to expand ad a modest to moderate pace from mid-october through mid insofar as november and the report does not appear to tee up tapering of bond purchases cuttings back on quantitative easing in next two weeks when the report will be used by policymakers. this reports e has the same language on the economy and job creation as the last meetings on beige book in october when the f
you give a word of caution yes, sir of the year? do we wait until january? people have tax issues. do you think now is good time to address the market as we're sitting on highs for the day? >> sure. anytime we get to a new high you have to be cautious and why are we here? is it based on fundamentals or is it a little frothy? i think it is based on fundamentals. cheryl: you would wait? >> i would, wouldn't necessarily, well i would actually ease in. depends on areas. i look for opportunities when stocks come down when everything else is going up. comes up on my radar why did that stock go down? what is the specific issue. that is the way which i would property it. look for more of those divergences where there are stocks maybe at the market stays where it is, what is going down. why is it going down and look there if is there good fundamental reason to do it. we have a lot of political headlines in the election year. that could cause volatility in the markets. could be fun for people. cheryl: maybe now and january time to ease into the market? ease is the word of the day. >> like a hot
been the weakest recovery since the depression so what you see is tax collections coming back but only gradually and now with the softness of retail sales people forget that states rely on holiday retail sales for their own sales tax collections and that is not a good sign. connell: are not worried about another big city going the way of detroit. >> not over the long term but other big cities the problems with the pension systems and all these cities even chicago where some of the pension systems are 25% funded but they have a trust fund with money to pay people for now but going forward as investors look what it would take to repay the pension debt, more and more investors are saying i am not sure going forward i should do what detroit investors did a decade ago which is continue investing. dagen: bottom line for d 2 and other municipalities this could be this will bargaining chip to bargain with the unions in other cities. >> the judge has set a precedent. if he said the other precedent it would have removed that as a bargaining chip. connell: something that they had to have. thanks
tax dollars is not solving it. >>hank you. gerri: unbelieveable, right, own carry mess goes on. and now more disturbing news for your healthy, fda warning some defidefibrillators made by phils medamedical system may fail. i have to tell you, i think this story is appalling, so many machines and only now federal government waking up saying we need to fix it, get out tell people that machine macs may not work. they may be -- you may be having a heart attack, it supplies to you, you are not rsus started. where is the government been? what about something simple like this. >> you know, interestingly, fda just this year, finally passed new legislation that they will regulate deeibrillators like other medical devices, however all tse bits and pieces are just now coming together, over 400,000 americans die suddenly every year, that is more than all types of cancers combined, if you have a defibrillate or deployed, 70% survive without one, less than 5%. >> how big is this problem with these machines not working? why are they? how many are there? >> this particular did fibrillatdefibri
. a low rate flat tax, spending restraint. you know the drill. it's all there. and that, this is all a consequence of very bad economic policies by this administration and congress, especially the senate and they've put through a lot of tax increases this year and you're seeing the consequences of it. look at what obamacare has been doing, it's liighths catastrophe and why would you expect something really good to be coming out of this mess? i wouldn't. >> i think we've had this conversation before. >> yeah, we have. >> unfortunately. are we going to have it again in a couple of minutes? because i question whether you're going to get any change in economic policy in the next three years, i don't think you are, but i'll come back to you on that one in a second, okay? >> it's a deal. stuart: i want to move on to amazon's chief jeff bezos on 60 minutes. he showed off a flight of amazon experimental delivery drones. yes, drones to deliver packages. keith fitzgerald is with us, keith, he's looking like the new steve jobs and amazon is behaving like apple. >> he's defining innovation and
about it. >> check with your tax accountant, because some stocks cannot really go into i.r.a.s because of a business tax. you want to be sure. you've got to talk with your accountant about these. the stock had a not great quarter and it's been knocked down. and the master limited partnerships have all been coming down. but i believe in rich kinder. rich kinder is not dick heckman. dick heckmann had a terrific company around, this one's not it. rich kinder made a lot of people a lot of money. i'm not going to abandon that company. but i do honestly right now like linn energy more. higher rates don't have to be the end of the world, conn's might be a microcosm. wouldn't you like to have a stock that goes up gigantically? or would you say i don't want that gain because rates are going higher? stay with cramer. >>> coming up -- nice view? hilton's more than $2 billion ipo is about to hit the street. are there better accommodations for your cash, or should you try and book a room in this newly minted stock? >>> you know that this has been a downright incredible year for initial public offer
by online retailers to draw a new york state law that requires customers to pay a new york state sales tax, even if they are buying online. if you live in those states with sales taxes, you will have to pay the very same taxes as you would in one of those brick and mortar stores. much more is still ahead and we will take a look at the global hotspots ignored by the obama administration and the national media. revolution breaking out entirely. but what does the doctor and say? what does mr. obama say? and the president trying to keep congress from passing new sanctions against iran. we will be joined by ralph peters in k.t. mcfarland with the analysis. we will await results from cybermonday. jen rogers joins us to tell us what it means for the to be american economy and the global economy as well. we are coming right back. the obama administration touting dramatic improvements out of healthcare.gov, and that is not what we are finding. we will be talking with the former director, tom scully, on what is really going on with obamacare. as a business owner, i'm constaly putting out fires. so i
look at tax payers wallets. an open-ended obligation of my money going to insurers to fix the problem because the poor planning of this administration. again, why is that? >> i think it's not just this, it's the whole law, and i think you're actually onto something there. because people have talked about whether this will work and how many people would enroll, will there be a so-called deathspiral and etc. gerri: president is willing to open the process and the task of these insurers to give them whatever they want. let's talk about how many times the price tags for this website has gone up. that is now a billion dollars. it seems as though they are not willing to say that we are going to end this plan and what they are willing to say is that we will spend what we have to to make it work. and i could be disastrous. >> that is correct. but they probably will do exactly that despite what they have to. but even without him i don't think what they are going to get is much more than something that looks like a bit more medicaid for a few more people at a very high price tag. and it's not g
the gasoline tax? >> you account for $42 billion, can you sell out for me where that has gone? >> it accounts for the hundreds of billions that were already forking over things like this. shouldn't we apply and it is a sign that funds are tight? also, where all the funds have been going thus far. apparently not into as a business owner, i'm constantly putting out fires. so i deserve a small business credit card with the spark cascard from capital one, i get 2% cash back on ery purase, every day. i break my back around here. finally soone's recognizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer get the spark business card from capital one. choose 2% cash back or double miles on every purchase, every d. what's in your wallet? i need your timesheets, larry! what's in your wallet? every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest moren the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the la
gasoline tax? >> you account f can you sell out for me where that has gone? >> it accounts for the hundreds of billions that were already forking over things like this. shouldn't apply and it is a sign that funds are tight? also, where all the funds have been going thus far. i take prilosec otc each morning for my frequent heartburn. because you can't beat zero heartburn. woo hoo! [ male announcer ] prilosec otc is the number one doctor recommended frequent heartburn medicine for 8 straight yes. one pill each morning. 24 hours. zero heartburn. neil: this is one of my favorite conversations, if you can call it that. the awkward dynamics of president oba and president putin of russia. this is not going to go well. the u.s. government accusing russian diplomats as scamming americn dollars. they don't like putin-care, but they do like obamacare. at the it's the same program that many want to expand. but they don't look at where they have been throwing them. dam, it's good to see you. >> it's good to see you as well. >> would he make of this? >> i think that this is an example that many finally
that affect all online shoppers. sales taxes and why you should be paying it. states lose $2 billion a year from uncollected tax from web users. the supreme court decided yesterday not to get involved in appeals from amazon.com and overstock.com. the court let ruling from internet retailers to collect sales taxes even if they have no physical presence in the state. do you follow me? the issue effectively ends tax-free online shopping for lots of people. brick and mortar people say they are at a disadvantage when they have to collect taxes and online do not. it's different from state-to-state and it's just been a real mess there but supreme court is not going to weigh in on this. i want to give you a quick peek at the markets. dow and the major markets all fell after the black friday results showed that consumers spent less than last year. gold stock fell as well. concerns about the fed withdrawing -- using a big pull-back in gold this year. the ten-year treasury climbed again. it means higher mortgage rates likely and higher rates for car loans and the like. krispy kreme had a very bad day.
successful. there is corporate tax reform -- >> the problem is when you say tax reform you mean cutting taxes for the wealthy. >> no reforming the tax code to incentivize businesses to hire. >> but again, i would say you have a lot of blockaids in your own party. >> i want to get your take. on the former vice president dick cheney speaking out about the feud between his daughters. listen to this. >> we were surprised when there was an attack launched against liz on facebook. and we wished it had not happened. it was always dealt with in the family and we wish it was. >> it was launched against liz by her sister and her wife. >> this is a little godfatherish. we want to keep this in the family, but the irony here for dick cheney is that he is to the left of his own daughter who is running for the senate in the state of wyoming on the issue of gay marriage. he said that he believes in personal freedom and that he believes it's an issue that should be left up to the states and she has said i'm opposed to gay marriage. so he is more libertarian than he is. >> the family fuse within the family, an
new york times" editorialized, "the emphasis on cutting taxes and spending that began in the reagan years is a direct result of economic insecurity now. it has led, for spm, to education cuts that have harmed children in low-income school districts. reversing those decisions can still have an enormous impact." but under president obama, america's spending more money on education than any other nation in the world. also, taxes have been going up. and we have record debt. but the left wants more spending and even higher taxes. simply put, the big government spending machine has not helped the economy very much. but again, liberal theory trumps results. >> the idea that so many children are born into poverty in the wealthiest nation on earth is heartbreaking enough, but the idea that a child may never be able to escape that poverty because she lacks a decent education or health care or a community that views her future as their own? that should offend all of us. >> well, it certainly offends me. if children are not getting a good education or do not have proper health care, i'm offende
names. >> stocks up, too. you're not going to have that big tax loss fear. a lot of people saying i can find inexpensive tech, i don't need to go into the cloud. although apple is saying this is about ibm being wrong and apple being right. >> there has been an expectation of a china mobile deal. >> yes. >> unbeknownst to most people who hold the stock. that being said, 740 million china mobile subscribers, there is a fairly large audience they could conceivably be addressing to try to buy smartphones. >> do you remember the conference call that was the open rebellion against tim cook? it was withone of these things e i thought it was 1948 where stillwell had just lost china and now he's making a move. he did not lose china. >> we'll see. that fortune story has a lot of people talking about whether china mobile makes a big move in this direction, having not carried their phones till now. >> maybe samsung -- don't hear a lot about samsung having a revolutionary new phone. >> no, although they've got a lot of new patents, they're going to do the curve thing or fold thing. >> maybe they hav
is financed through tax revenues that can reach as high as 50% on income. over the years many canadians have come here to the usa for things like surgery, because wait times are long north of the border. with all that in mind, jesse watters ventured out to talk with some canadians. >> socialized canadian health care. what exactly is that? >> i think our health care situation right now is pretty ridiculous. >> we pay a lot of tax. but we also get a lot for the tax that we pay. >> what is the highest tax bracket here in canada? >> probably 50%. >> 50? >> yeah. >> sounds con fiscatory. >> coming from a [ bleep ] homeless person who gets no access to any health care, i think it's a joke. >> you're not crazy about it, are you? >> what has your experience been like interacting with the canadian health care system? >> excellent. >> obama is trying to emulate the socialized health care system here in canada. >> we have a socialized health care? >> use your brains a little bit. >> what are you? >> i'm on the way to being tammy. i used to be tom. >> yes, making excellent progress. >> and does the cana
warmed his hands on the panels and promised tax credits to people who put them on their homes and businesses. let's get energy independence, go solar, well, seven years later, a republican president named ronald reagan had the panels taken down, supposedly for repairs. this summer, new and improved panels got put back up, once again as part of a green overhaul on pennsylvania avenue. the new panels are expected to pay for themselves in energy savings over the course of president obama's tenure. but just down the street at the grand hyatt hotel in washington, the white house's solar panels are the object of scorn and strategy. it is the meeting of the exchange council, alec, the consortium, where mostly republicans fought for the passage in their states. the initiative is to punish american homeowners who choose to go solar, the idea is to make the solar-powered homeowners pay a penalty for using fewer fossil fuels, disincentivize the use. alec's stated objective is blocking the renewable energy at the state and federal level. touting their laws that reform, freeze or repeal st
road trip maybe in new york city? it may soon be impossible to steer clear of being taxed to the max. lauren simonetti is here with that and more. >> good morning. talk about a creative and controversial way to raise money. dem doctorateic congressman eric bloom hour wants to charge you a tax based an how many miles you drive. he isn't raising enough money to fix the highways and the roads. vehicle miles travel tax or vmp is a solution. he has reintroduced legislation for the government to study ways to implement it. some drivers in oregon will test a pilot program in 2015. super bowl 48 which you can watch here on the fox network is the most expensive yet. the anticipated price tag organizers expect to raise is $70 million. and they are already sold out. shelling out over 5 percent more february 2nd gained than last year. a 30 second slot now $4 million. microsoft is taking on an unlikely foe. vict victoria secret kind of. the tech giant is trying to create a smart bra that can reduce stress by sensors that track skin activity. the sensors communicate with user's smart phone and let
at that plan. you had sent a flat individual and corporate tax rate with 5%. give parents more school choice and education tax credits and loosen visa rules to encourage entrepreneurs to open businesses. while those are all good ideas, you've got to pour more government money into those inner cities if you're going to make a difference. >> well, chris, it hasn't worked. the president pours a trillion dollars into the nation's economy when you divided it out, it was about $400,000 per child. the problem with a government stimulus is you pick the winners and loser rs. with this stimulus i'm talking about, a free market stimulus, you simply leave the money in the hands of those who have earned it, so the customers have pickeded out the successful people. those people get more money. like i met a young man, young african man who has his own restaurant. his first question is do you have any tax breaks for me for my business. that's what what would do. help people in business and trying. >> but i don't have to tell you senator, republicans have a steep hill to climb in inner city neighborhoods. in
to gay marriage or abortion they. and very conservative when it came to fiscal policies, saying don't tax me, don't take away any more of my money, they have interviewed people, i started on food stamps, i pulled my way up, i don't like giving to people, who to me don't look like they are trying to get better. >> it is a punishment, the wrongs of yesteryear,ure we always told the same 1% that were wealthy in 1979 are same now but they gobbled up a greater share of the wealth, as if we don't have mobility up and down. >> we've seen a lot more economic mobility downward, when you have 20% of the people being rich, top 2% of the bracket, sometime that means that rich are getting richer, that is not a bad thing. melissa: if everyone is en insession cure. >> what you have seen is an ex askeex -- exacerbated by president obama. in the economy nothing is perfect, free markets they ebb and 'fro flow, you need a limitd government that gets out of the way. >> i agree, you need a strong middle class, the economic inequality is the main challenge of our generation, you have so many poor people, and s
is traveling. >> enough not to pay taxes? >> no, no, i do pay taxes here. and the rates in new york with sales tax and everything and income taxes, state income taxes are roughly the same rate. so the tax equalization. i don't pay double. it gets offset. >> i don't know what that says, now we're equal to -- >> it's about 50%, basically is the marginal rate. >> you think that's fine? >> well, the british government reduced it from 50% to 45% and i thought that was wrong at the beginning of the conservative coalition because they said they were doing it to try and increase entrepreneurial activity. i think the best way to do that is a capital gains tax, not income tax. so i think that was misplaced. and i think at a time when people were worried about inequality and equality, which was high on the political agenda, i think it was the wrong thing to do. >> it brings up a lot of issues about income equality. and we know the one thing that solved income equality is growth and jobs. growth and jobs. not entitlements, not redistribution, it's growth and jobs. and some of the efforts to do it the othe
. >> they have to cut some deals. sears was a big -- >> right. but the tax revenues, whatever you get there, you're probably losing it as people leave unless you do something this. don't get me started. >> well, the governor said even though the senate passed it, the house -- >> they didn't have an auto industry or a bailout in illinois. that's purely just mismanagement of the whole pension situation. >> but it's failing to put the money in they've promised he year. there's a lot of states that promise these things and -- is. >> the whole detroit thing we'll talk about. it's a tough one because on the nightly news you'll see every retiree. they'll say, if a dollar is cut out of my pension -- >> and by the way, tier not making massive pensions. >> i know that. but right now, there's no city services. >> and detroit is a unique situation because you have seen a loss of the people living there. you can no longer support the infrastructure that was there for 1.5 million people when you see the numbers decline. >> and the journal has a piece and it sounds cold and heartless, but if public unions are
pay taxes on it. >> and given the recipe to uncle sam? >> right. you have to turn over your rights to the recipe. >> but you didn't have to change the recipe? >> n. we don't want to change it. this is the best recipe in the whole world. we don't want to change it or mess up things. >> how do you characterize the success of the show? it's number one on tuesday nights. we can now drink liquor in public, unlike the flapper year when we first broke in the show, we could not serve liquor. now we can. how do you explain the success? >> we got the best maker here. >> and you were on the run, too. >> i was on the run. >> true. but there was an anxiety to the episodes. >> yes. >> you were rejected four times, right? what was the difference? >> the label was rejected a couple of times. some of the information. it's just the accountability. the government really wants to know exactly what's in that bottle. >> and they really want their tax money. when we watch the show, and it's great. it's really interesting. if i were a moonshiner, i'd be worried all the time that you'd get arrested. >> we
court is refusing to hear appeals from two major online retailers against new york state's sales tax law. amazon and overstock.com challenged the law requiring collection of the taxes in states where they have no physical presence. states reportedly lose $23 billion a year in uncollected sales taxes from online retailers. >>> u.s. manufacturing grew last month at the fastest pace since april of 2011. that is according to the ism index. manufacturing rose in november to 57.3. that is up from 56.4. that is the reading for october. and highest reading in 2 1/2 years just clocked in. >>> dow chemical is weighing options to sell most of its chlorine operations its oldest business as part after plan to sell assets worth 3 to $4 billion. dow is moving away from chemical production, to focus on electronics, packaging and agriculture. that is the latest from "fox biz." adam: bill ackman may be disengaging from the media but is he actually going away? charlie gasparino joins us looking like spock from the alternate universe in that episode from "star trek" with the pointy ears. what is with the be