hi, everyone welcome to "on the money." i'm becky quick. guaranteed income. a facebook founder has a plan to give a check to every family in need and can sharing the wealth really work? deals and wheels a poker pro's principles for decisionmaking why it matters when it comes to your money. the hot toys your kids will be playing with us some are smart, some are familiar and some are just fun. >> toys that are meant to be broken over and over again "on the money" starts right now. >> this is "on the money," your

money, your life, your future. now, becky quick what would you do with an extra $500 a month we began with a plan that would give that money to working families his proposal would help close the income gap between wealthy americans and those who are struggling to make ends meet guaranteed paycheck. in 2004, a group of harvard students launched a new social media site that they called at the time the facebook. along with mark zuckerberg was chris hughes he worked there three years before leaving and in 2012, facebook went public raising $104 billion. chris hughes earned $500 million. now incredibly wealthy himself, he wants to help americans who are struggling the income gap between the top 1% and the bottom 50% continues to climb at the end of 2017, the federal

reserve found that the top 1% of americans hold 39% of the country's wealth to help reduce income inequality, zuckerberg is proposing a universal basic income $1,000 a month provided to everyone by the federal government hughes has a slightly different idea students and part-time employees that are working and falling behind deserve $500 a month for working americans and families earning less than $50,000 a year who would pay for it the 1% is this a good idea or a pie in the sky dream? as we mentioned he is one of the founders of facebook chris, thank you for being here today. >> thank you for having me >> we heard talk of the basic universal income this is not that this is a slightly different plan how did you come up with your version of this? >> inspired by the same ideals

the ideals if you're working hard and not making end meet what's happened in reality is that jobs have become more and more unstable and half of americans don't have $400 in the case of an emergency so, oftentimes people talk about ubi or universal basic income as an idea that we'll need when the robots arrive. when self-driving cars take over that may be true or might not be true, it's an interesting debate to have. but in many ways i think the future is already here income inequality has not been this bad since 1929. and we have the power to combat it and change it and, frankly, i think it's a moral issue and also a pragmatic one the best way to stimulate the economy over the long term is to put more money in the hands of working people so that consumer spending grows and the entire economy grows, in turn >> your plan is similar to one that already exists.

the earned income tax credit but yours is slightly different because not just people who are receiving a paycheck who would qualify for this how do you expand the parameters >> we doernt need to create brand-new government programs instead we should invest in what works. the earned income tax credit is a large program that lifts more people out of poverty than food stamps, unemployment insurance and housing vouchers combined. the way it does it is through cash sometimes the best solution is the simplest tens of millions of americans give a boost to their bottom line and they can use that money on whatever they see fit it's extremely powerful. my view is that we should invest in that program and modernize it to make it monthly and make the amount flat to $500 and also, importantly, expand it to a lot of ountraditional kind of work child care, elder care is a huge growth industry because of aging

baby boomers if we recognize that kind of work to work and traditional jobs and we can provide a guaranteed income, $500, to every working person in america and combat income inequality. >> we mentioned in the package leading up to this, you made $500 million when facebook went publ public why would anybody think you know what it is like to struggle. >> my mom was a traveling sales and i ended up rooming with mark zuckerberg working for facebook on three years and getting what can only be called a lucky break. my perspective on that is we have to be more honest on how much wealth the 1% is getting and how luck and fortune are playing a key role in order to talk about the other 99%, people who are working just as hard, but who haven't gotten a raise

in decades so, my view is that those are the kinds of people that i grew up with are the people who need more help, not the kind of corporations and the 1% who, unfortunately, getting the advantage of the tax cut that got passed in the last year. >> where does this stand in terms of potential momentum that is picking up? >> there is actually a big bipartisan consensus on the idea the itc. now, modernizing that and growing it, i think, is really the next frontier. it will take time, but i think as income inequality grows worse, we'll look for more and more solutions and this is the most proven and the most promising. >> chris, we want to thank you for your time today, we really appreciate >> thank you now here's a look at what's making news as we head into a new week on the money. federal reserve spoke and the markets listened, but stock markets were confused. minutes from the fed's open market committee meeting were

released on wednesday and the fed saw a strengthening economy, that news sent stocks climbing initially and then the stocks pulled an about face and tumbled over concerns that the fed would raise interest rates than first thought slowing down economic activity stocks rebounded on thursday when those fears calmed down the markets continued to climb on friday. existing home sales that was in part because of higher prices and fewer houses for sale. that number was below expectations and for the first time in ten years, lucky charms is introducing a new shape. parent company general mills is hoping that its unicorn willoughby as magically delicious as the other shapes. the hour glass will be phased out to make room for this hot new shape. up next, we're "on the money" looking for new wheels. consumer reports just released its 2018 reviews and ratings which was best in class? it may be a brand you never heard of and later, lessons from the

poker table. skills that will help you make any money decision right now, though, take a look at how the stock market ended the week

it may be the best brand you never heard of consumer reports is out with its annual auto rankings combining road testing and owner satisfaction scores. the results show which builds the top performing vehicles as phil lebeau found out this year, a new brand came out on top. >> not a well-known luxury brand, especially among those looking for a new high-end car, but genesis started by hyundai in 2015 is the top auto brand right now according to consumer reports coming in ahead of audi

and bmw. >> there are other luxury vehicles on the market and they are luxury vehicles that are reliable and they have features and electronics and those electronics work and it's not complicating and distracting. >> consumer reports' annual report card on the auto industry is based on the organization's own testing of vehicles it buys and the evaluations of more than half million consumer reports subscribers who say doesn't work on their cars and trucks consumer reports designated ten vehicles as top picks, including the toyota highlander, ford f-150 and chevy bolt top pick as a compact green car. >> this is the first vehicle that is really much more affordable and has a much larger appeal and gets in our testing 250 miles of range that makes it usable and really appeal to a lot of people. >> while consumer reports says

the overall quality of trucks and cars is improving, some brands struggle with reliability. jeep may be the most prominent example. rated the second lowest brand ahead of jeep and fiat >> they don't perform very well. they don't satisfy their owners and the reliability is not impressive fiat chrysler the parent of jeep and fiat says it appreciates the report from consumer reports but those opinions don't align with what they're hearing back from their customers and they believe people should come in and drive a jeep and a fiat and that way, becky, they believe those are the opinions that really matter. >> i was going to ask just that. i have a jeep. jeep commander i owned for ten years. i feel like it's time to buy a new one because it has over 112,000 miles on it. i was going to go back to buy one and this report is making me question how much sway does this report

have with policy buyers. >> you may be swayed not to go back and look at jeep, but if you look at jeep sales over the last ten years where they have finished near the bottom, not only in this report, but in other types of reliability reports, it hasn't slowed down the success of jeep. >> thank you very much great to see you >> you bet. up next, we are "on the money. while making skills while making bets can help you make decisions. from cute and cuddly to the super high tech. a sneak peek at the toys hitting shelves this year.

she was a world series of poker champion, now annie duke is betting that her skills from the poker table will help you when it comes to making money decisions. her new book is called "thinking in bets making smarter decisions when you don't have all the facts. i love the idea behind your book why do you say thinking as decisions as bets is a more

effective way to come to a decision >> mainly because the decisions we make are bets we tend to think of bets as happening in a casino, but what a bet really is is a decision about an uncertain future that is informed by your beliefs. >> as you say a lot of uncertainty in poker and in life but you say poker players really know how to use that uncertainty to your advantage. how does that translate to someone who maybe doesn't even know how to play poker >> if we think about it, whenever we make a decision there is a set of futures that might occur, but we don't know exactly what the future is that will happen. so, we can use that to our advantage because when the future doesn't work out a certain way that we wanted, we become less emotional about it, which i think is really good i think the other thing is we don't just assume that something turned out poorly a person made a bad decision or they're brilliant. gives us a better analytical eye

so we can learn better from the outcome when we realize the way that turns out is uncertain in the first place. >> how can use strategies like this for somebody who is trying to figure out what to do with their retirement money >> it's really good to think about how do we get to the end point that we want to look at, as opposed to just thinking about one possible future. when you're not thinking ahead to what are the different scenarios and how things might go wrong, for example, which is one thing we don't want to think about when we think about uncertainty. what can happen, you can think about how do i get rich? just that one future which causes you to have let it ride or pressing strategies that causes you not to be diversified. you have to think about what is the future where i get rich and what's the future where i'm safe and things go well what's the future where i go broke. and when you get to the future where i go broke and the possibility of that, it reveals the let it ride strategy and

reveals that a diversification and that kind of free lunch is really the way to go imagine yourself in the future and what your goal is trying to get to and how is that competing to what your short-term desires are. >> as you point out, just because you're coming into something with a lot of facts and some experience doesn't necessarily mean things will go your way in. in 2011 that later filed bankruptcy, what did you take strategies from there to what you learn down the road? >> i think i learned what most people learn from a start-up, which is that you know you're going into something uncertain obviously, the majority of startps fail and you're, obviously, trying to start something that will be great and you also understand it is high risk >> would you take the risk, again, or did it make you risk averse >> i don't think it made me risk averse i think what you try to do is think about what is the

information that i maybe overlooked that i can take into the future with me in order to increase the probability that if i start something like that, i will succeed i think you learn from every single experience how do i improve my decisionmaking going forward. >> sure. >> as long as you're learning and improving your decisionmaking going forward, it's always worthwhile >> great advice. love the idea for the book it's called "thinking in bets. "we'll see you again soon. thanks for your time >> thank you. a look at the news for the week ahead and we'll show you the hot new toys that will be making it on to your kids' wish list this year stick around we did it! 6,000 dishes! a drop of dawn and grease is gone.

here are the stories coming up that may impact your money this week. on monday we will see how many new homes were sold in july. the durable goods report comes out on tuesday measures items that are expected to last more than three years. on wednesday the second read on the fourth quarter gdp will be released and on thursday auto sales for february and then friday marks national read across america day. it is celebrated on the birthday of theodore guisal or dr. seuss. it's an initiative to get all children to celebrate reading. yay. robots, dinosaurs and dolls were just some of the hundreds of thousands of toys that were show cased this past weekend at the new york toy fair. the largest toy fair in the

country. what are some of the hottest trends we can expect to see later this year? we took a look >> there's over 1,000 companies here and if you can envision seven football fields filled with toys and games, that's how many toys are in this building >> makes it for the 99%. >> we can actually have our brains control other people's bodies >> stem that is very, very hot toys that use technology to teach. >> they have facial recognition, voice command, walking, talking robot. >> with books, ar is a home run. if we can make the book come alive with technology and kind of add value to it it is a way for us that ar works >> a lot of millennials are parents now and a lot of brands that they love that have a resurgeance is because parents want to share what they played as a kid with their kid.

>> that's all fun and games until somebody gets goo over them joining us is steve who is the president and ceo of the toy industry talk about some of the trendstriving these things. >> so much cool stuff. >> stretch armstrong which hasn't been around in years and years is now making a comeback >> it's a nostal juplay. hasbro has done a great job with this created a program on netflix and it's on tv and the teenage heroes are on there and you can own the toys 7 bucks. a great price point and he flexes and does all kind of cool things >> stretchy stretch. >> these guys shoot missiles and throw discs and stuff. you can collect them all at 7 bu bucks apiece and under $21 led by the flex power team which is right now in the netflix

program. >> i have to get to this because this is perhaps my favorite thing. a new "jurassic park" movie coming out what is this thing >> this is the ultimate mask it's coming out this spring and you can cinch it up on your head almost like a set of ski goggles and kids can do role play and it fits into the whole movie theme. but this is going to be cool life-like skin and the eyes are going to move. three different sound patterns >> when i move this mouth, it will move this thing >> cinch it on your head and run around the house and be a dinosaur $34.99 for all that stuff, a great price point, as well mattel has done a super job with that. >> my son watched some of these videos on youtube where you unpack the toys and they come out. it's like free marketing, i can't believe it but he loves watching it >> collectibles is hot and discovering. this is a blind pack

this is the biggest blind pack on the market. you don't know what is inside. this is squish delish. for some reason kids love things that squish nowadays and reexpand more. this is a great product from jack specific. really capitalizing on all those trends in one product. $14.99 price point and kids love this stuff there are six different versions of this. you get it now and this is the robot right here and just cool stuff that this generation of kids is having a lot of fun with >> one of the hottest things the finger lings the little bitty ones. this is a big version of it. >> this is the new plush actually a tech company did fingerling this guy brings the technology of a fingerling together in a plush. you can hear him talking to me he gets a little gassy at times. that's just his way and just like any baby. you throw him in the air and he

has a grand time you can actually -- a kid can talk to him. it will record your voice and talk back to you in monkey gibberish. he's just cool toy technology, plush. this is the prototype just like that's the protoo type, but a hot toy this year. he's just ridiculously fun >> very quickly, we're about out of time. this thing looks cool. >> specialty toys, sidewalk chalk in the shape of sushi or in a doughnut. cool thing to buy for a birthday party. this is from a little company in philadelphia made in philadelphia, made here. handmade super cool 8 bucks for the doughnut 21 for the sushi but if you come to the birthday party with this tray of sushi and it's chalk, that will just be super fun >> thank you, steve. love showing this stuff off. folks, that is the show for today. i'm becky quick. thank you for joining us next week a membership that lets

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>> narrator: in this episode of "american greed"... maurice michael mccant is a convicted bank robber who claims he's gone legit. >> mccant carried himself as somebody who was legitimate. he had the swagger of a rap promoter. >> narrator: mccant offers 30% returns on investments in his rap-concert-promotion business... >> he actually said to them, "you can stop the bleeding that you're suffering in the market if you invest with me." >> narrator: ...and investors are forking over their entire nest eggs. >> i liquidated my i.r.a., and it was to the tune of a million dollars.