. a. a surprise in washington this week, real compromise. this is "your money." 27 years. that's how long it has been since the united states overhauled immigration law. this week we got a step closer. on tuesday they reached agreement on landmark immigration bill. three republicans joined in voting for the mother and it moves to the senate floor for a full vote. immigration touches every aspect of american life. it raises heated controversial issues about national security and cultural identity. make no mistake. make no mistake. at its core immigration is 100% about jobs. under this bill the number of highly skilled foreign workers admitted to the country would rise from 65,000 a year to

110,000 and possibly more depending on the unemployment levels. that's a major win for big tech firms. tech company ceos say they can't find enough talent at thoem fill the positions they need. the legislation scraps ledge reconciliations requiring companies to make a good faith effort to find american workers before hiring from abroad. that now only applie to companies that hire foreign nationals for more than 15% of the workforce. at the other end of the spectrum millions of undocumented workers would be granted registered provisional immigrant status meaning they can stay in the country legally. they can work in this country legally. after a decade, they would become eligible for a green card and three years later full citizenship t establishes a new visa program for low skilled workers. judiciary committee member jeff sessions, a republican, voted against the measure. he is worried authorizing millions of undocumented workers to take jobs legally will push down already stagnant wages. that hurts low skilled

americans, he says, the most vulnerable people in this workforce right now. as he put it, quote, my republican colleagues seem owe bolivia us to the free marketment. ana, are you in favor of immigration reform. you have to tell me, how divided is your party on this issue right now? how do the factions stack up here? >> you know, christine, i think that the division is highly exaggerated. i don't see the level of division that i saw in 2007 or that i have seen in the past. most republicans agree that what we have right now is de facto amnesty, that it is a broken system, and that it needs to be resolved. there is some differences on how to resolve that, but there is almost consensus on the first part. and i would tell you that the republicans that matter, the ones that draft policy, the ones that shape the agenda, are very committed to moving something and passing something.

>> i will say you do not see the heat and sort of the public interest and also misinformation that you saw in 2007. this has been moving quickly and sort of under the radar, wouldn't you agree. >> i think a few things are happening. first of all, there is a lot of things going on at the same time. it is almost hard to keep up with the scandal dujour in washington and i think having marco rubio in the mix is making a huge difference. he is uniquely situated to explain this and talk about this bill and the benefits of this bill as a hispanic, as a republican, and as somebody that really understands and communicates and identifies with the base of the republican party. >> he doesn't agree with another senator that has a voice on this, too. when you look at the two different positions of senator cruz and senator rubio, it is sort of illustrates what

republicans are grappling with right now. >> you know, i have been somewhat surprised by the attitude and the votes of senator cruz. i think he has changed somewhat from when he was back in 2000 working in the bush campaign, but also, he is at this point he is in the minority in the republican faction of the senate. are you seeing that this thing is moving along. what we saw this week is we saw the four members of the senate gang of eight who were also members of the judiciary committee stick together and protect the integrity of the deal they crafted. they swatted away anything that would be a poison pill amendment. on both two democrats did it as well as the two republicans that were in the committee, so there is great commitment to getting this deal through. >> all right. nothing more interesting and controversial than when you put politics, jobs and immigration all in one discussion.

certainly this discussion will only get louder and more interesting over the next few weeks. thanks, anna. >> thank you. some in government want to take a bigger bite out of apple. >> it is past time for american corporations like apple to reorganize their tax strategies, to pay what they should and invest in the american economy. >> i frankly think the committee should apologize to apple. >> is this a greedy company, a broken tax system? the truth about big corporate tax loopholes next. u 8

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i have the u.s. tax code. this big binder is one of 16, 16 binders, 74,000 pages is the u.s. tax code. it is a confusing maze for both individuals and corporations, the top tax rate for businesses is 35%. many companies don't pay that. they don't pay that because within all of these books, within all of these words, within 74,000 pages are scores,

hundreds, thousands of loopholes for companies and companies don't pay those top tax rates including apple. this week a senate committee grilled apple ceo tim cook on the company's tax practices. the committee wrote a scathing report that found apple uses subsidiaries in ireland to avoid paying taxes, all legal because of all of these books behind me. senator john co-authored the report. >> america's tax system is broken and uncompetitive and i have long supported efforts to modernize it. however, i will not allow that position to be used as an excuse to turn a blind eye to the highly questionable tax strategies used by apple. >> apple ceo tim cook defended his company. >> we pay all of the taxes we owe every single dollar. we not only comply with the laws, but we comply with the spirit of the law.

we don't depend on tax gimmicks. we don't move intellectual property offshore and use it to sell our products back to the united states to avoid taxes. >> apple isn't doing anything illegal. it is simply doing what every u.s. company does, take advantage of all of these loopholes that congress itself created. it is a point senator rand paul made during one of the hearings more fire breathing moments. >> i frankly think the committee should apologize to apple. i think the congress should be on trial here for creating a bizarre and byzantine tax code that runs into the tens of thousands of pages for creating a tax code that simply doesn't compete with the rest of the world. >> so this is that tax code, and paul went on to say that congress doesn't need to be having a hearing t needs to be looking in a mirror. it needs a mirror because it is time for congress to take a good look at itself before castigating companies for legally navigating the system. david johnson is a columnist and

congress creates tax laws and now senators are grilling apple over loopholes in the laws. is that fair? isn't tax reform really the answer here? >> well, of course tax reform is the answer, but, remember, the companies are the ones who go and give campaign contributions and hire relatives of lawmakers to get all of these complexities. for 100 million of the 140 million tax returns filed in this country by individuals, it is so simple you can put it on one page. in fact, i have written you could eliminate tax filing. companies like apple engage in strategies that are to cite the title of my book perfectly legal, but have the same effect that not paying taxes, and that means you and i either have to get less government services, pay higher taxes, or have the government take on more debt. well, apple defers its taxes. i have a column laying out how this hits your pocketbook, how apple is costing you memorandum

at the nationalmemo.com today. >> you can draw that direct connection, the direct connection with complicated and sometimes not very complicated tax strategies, usually involving ireland, that keep a company's tax billow and my tax bill where it stands now? >> here is the simple way to think about it. imagine if instead of having your taxes taken out of your check before you got it, you can keep that money and pay the government 30 years from now. if you invested that money at 3%, it would be 2.5 times as large in the future and the taxes would be the same. it is a zero interest loan. you would actually make money off the tax system and that's what apple and other big companies do. the tax system is a profit center and indeed enron called its tax department a profit center. >> jean, i have to say when i talk about taxes and budgets, jean is the one. we just chat about taxes and budgets all the time. apple's complex tax strategies really draw -- it is an example of what's wrong with the tax

code. explain how u.s. multinationals take advantage of the loopholes in the system. >> one of the big things discussed on tuesday when apple was on the hill was and called a cost sharing agreement. u.s. multinationals choose to share things like the costs of research and development, whether they are offshore subsidiaries or in cases of ireland no tax countries. what the problem with that is tax experts say is that they give the offshore subsidiaries a sweetheart deal that they would not give an outside party, so if i am going to invite you in to get in on the ground floor of my next great product, i will make you pay for that. what happened in the case of apple is that they -- the offshore subsidiaries pay a little more than 50% of the costs and earned about 15 times the profits on their investment where as the u.s.-based operation only earned about eight times. that sort of raises a red flag to tax experts saying that a fair market price that you charge your subsidiaries and that offshore profits as david noted don't get paid u.s. taxes

are not paid on that for years with and years and years because they don't bring the money back home. >> david, what this all tells me, what i learn this had week listening to the hearings and listening to fire breathing senators, angry about a tax code that they created, what it cements in my opinion is executive there is charge of tax departments at major corporations are probably the most important people in business today. do you agree? >> they're certainly very, very important. they are very well paid. ge has it is estimated more than 800 tax lawyers. this is a huge waste of human capital we should be putting to other things but what we shouldn't do is just cut tax rates because if we just cut tax rates, everything that's wrong will stay in place. we need to have real fundamental reform. we should have, i believe, something called signal company accounting that would end the practice jean described by the way much better than any of the newspapers i read this morning and we should end deferrals. we require companies to keep two sets of books, one shareholders

and one for the irs. i think we should go to unified accounting. >> all right. let's come back and talk taxes again sometime soon. i think it is not going away. one thing certain, death, taxes and fighting about the taxes. thanks so much, david, and jean. coming up, marissa mayer promises the company won't screw up tumbler. what do tumbler uses really want to know? what happens with all of that adult content? that's next.

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it is official. tumbler is becoming part of yahoo!. now what. yahoo! bought the website for $1.1 billion this week but it may be worth even more. marissa mayer promised users the company won't screw this up. users are skeptical. laurie siegel sat down with david carp this week and it is so interesting this kid didn't even go -- didn't even finish high school and now he is negotiating with marissa mayer, probably one of the most famous female tech executives for his company. what was her role in all of this? >> marissa mayer has for some reason this charge in the tech industry. you see, all of these young entrepreneurs going to yahoo! now and yahoo! wasn't able to get a lot of the younger start-ups to get involved. it wasn't cool to be acquired by yahoo!. i will say this. david carp really defines cool. he is a new york-based

entrepreneur and used to drive a vespa around the streets and has a beautiful girlfriend. >> a gray hoodie. >> he wears a hoodie. he is very much cool. yahoo! really wants to be cool. when i spoke to him i sat down with him and he said really it wasn't just about yahoo!. it was marissa mayer, formerly googel and now at yahoo!. listen to what he said to me. >> not only is she a genius of the geniuses, she is something that i really value which is she is one of the most uniquely happy and productive people i have ever met, certainly in this industry. that's something that we have just strive for in our team is that sense of eternal optimism and purpose. she just brings that in a profound way. >> i will say this. i immediately sat down with him like let's talk about the acquisition and he corrected me. he had let's talk about the partnership because he doesn't want to be seen as just a part of yahoo!. tumblr very independent, the cool kids blog. they don't want to change now that they're at ya hoochlt he

made that very clear. >> it is so clear. people think he made $250 million of his own money on this. here is a good born and raised in manhattan, his parents let him drop out of high school because, you know, high school wasn't really feeding his brain. they let him work on his own and make his own programs and this is not your typical kid. >> absolutely not. i will say when he showed up to the interview he brought his mom. they're from the upper west side here. he said he doesn't suggest that entrepreneurs should drop out. you hear this and you say, okay, maybe everyone should drop out and sell their company for a billion dollars. he said it is a full time job since he was 14. his parents were very different than many other parents because they supported him leaving. he told me a little bit about it. listen to this. >> i give my parents so much credit for this. it was. in fact, their idea. i knew what i wanted to be working on. i wasn't really getting it out of school at the time. my parents saw that. they helped me find opportunities where i could pursue that. >> and when it comes down to

that, it is not easy starting a company 14, 15, 16 years old. he has had to learn a lot. the highs have been very high and entrepreneurship, the lows are very low. >> absolutely. i think it is so interesting that this guy, you know, $250 million maybe high school drop out, clearly one of the tech brains. we have been hearing about tumbler users jumping ship all week. what is the status of what the users are saying about this acquisition? sorry. partnership. >> exactly. look, people are worried. the tumbler users, there is a certain user base. they have fiercely independent people pouring their hearts out on blogs and a lot of people went to word press, the biggest competitor and i had the opportunity to sit down with the founder of word press, and they're looking at the tenth anniversary. believe it or not, they have been around for ten years and he said, look, people jump ship any time this kind of thing happens. we'll see if it sticks. what he said that was very interesting is the didn't sell for enough. listen to what he told me.

>> yahoo! needs somewhere to work and they need a social network, and really i think they sold for too little. like i had, blogging platforms have huge potential, and they have fantastic engagement as well. >> if you look in the future, could tumbler have sold for not 1.1 billion but tens of billions? that's what matt says. he says it was very bittersweet. this platform, you look in the future, it could be very very successful and for advertisers, too. >> we know there is a lot of adult content. should users expect big changes? >> i asked him that. i will say this. he was a little awkward about the answer. i thought maybe it was because i was asking him about the porn problem on tumbler in front of his mother but what he really said was nothing is going to change. those guidelines are strict. i think we're honestly i think it will take time. we'll look because people are posting a lot of times illegal material on tumbler and now it

is part of a big public company. you can't ignore that now. we'll talk to you very, very soon. they assign book reports and this week teachers in oklahoma put their lives on the line to protect the children at the teach. our look at the courage of teachers next. ildren laughing ] ♪ ...is the smell of salt in the air. ♪ it's the sound a seashell makes. [ seagulls calling ] away...is a place that's beyond your imagination, yet well within your means. find your away. for a dealer and the rv that's right for you, visit gorving.com.

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never think it is the last time you will see your little boy or girl. there do come day when is it just might be. i want you to listen to something, the sound of 25 terrified children huddled inside in an elementary school bathroom as a massive tornado rains debris on them. you can hear sixth grade teacher lynn brenton trying to reassure them. >> you're okay. you're okay. you're okay. you're okay. >> you're okay. this week as the full horror of the deadly tornado in oklahoma emerged, so did story after story of heroic teachers that put themselves between their tiny charges and the fury of that twister. >> his teacher is in the hospital. his teacher saved his life. >> who is his teacher? >> i no doubt god and his teacher, they lifted a wall off of these kids. >> me and four other guys pulled a teacher out on top of three kids. the kids were fine.

she was hurt pretty bad. >> it is nothing anybody wouldn't do. these children, we see their smiles, their tears, every day, in and out. and we love them. they're our babies. >> this isn't the first time teachers have bravely stood up in the face of terror. nearly six months ago in newtown, connecticut, six teachers died trying to shield their students from a began man bent on mass murder. in february president obama awarded those educators the medal of freedom. >> they could have taken shelter by themselves. they could have focused on their own safety and well-being and they didn't. they gave their lives to protect the precious children in their care. >> away from the headlines teachers are called on every day to exhibit a quiet heroism that can change lives. we depend on them not only to educate our kids and prepare our kids for the rest of their lives but to detect whether a child is being abused or intervene if a child is being bullied. let's not for get more than 355,000 teacher jobs have been lost since june of 2009 when the

recession officially ended. since the recession ended the average starting salary in education, about $40,000 a year. college grads that start in communications or health sciences are making more. someone who gets into teaching clearly isn't doing it for the money. they are doing it, we know, to shape young lives and to provide the knowledge that will enable the next generation to compete in the global economy. sometimes in between a mundane math quiz or a lesson on subject verb agreement they're asked to sacrifice their own safety. when they do so often they say they were just doing their jobs. we wanted to take a moment to say thank you to this country's teachers. that's what they're doing in moore, oklahoma. listen to david wheeler that says his son is alive today, alive thanks to the actions of his third grade teacher julie simon. >> she is a member of our family for the rest of our lives. she will be a part of it forever. there is nothing that we can give to her that will repay her. we just thank you, julie. we love you. >> the largest profession in

america and none more important. our sentiments exactly. thanks for joining the conversation this week. we're here every saturday and sunday at 3 p.m. until then you can find me on facebook and twitter. my handle is@christineromans. hello, everyone, i am meteorologist karen maginnis. what you are looking at are live pictures coming out of san antonio. there have been numerous reports of water rescues taking place here and as you can see very swollen rivers and this is inundated it looks like that may be a shopping mall, but we had reports of as much as ten inches of rainfall. that is a one day total reported. that is rivaling the flooding we saw back in 1998 that killed dozens of people. already one fatality reported and we are looking at most of that rainfall in the corridor

from interstate 37 to interstate 10 to interstate 35 on the eastern edge of san antonio. so the bulk of the precipitation has ended. there was a water rescue earlier and we'll show you that. there were people in a rescue boat. they were looking for this gentleman sitting on this roof of his home or perhaps secondary building, and they did successfully rescue him. there was a wait. they were trying to navigate through the dangerous flood waters, and they are saying now that there is a flash flood emergency out until 3:30 local time. now, at the top of the hour i will bring you additional information, what we can expect, and what happens in the forecast and a look it the your memorial day holiday. the next list begins right now. >> they are innovators, game changers, people pushing themselves, movering us forward, theex