are. investing community can buy tlt. express that thesis. that is easy way to do it. david: j.c. parets, you're the best. eagle bay founder and president. liz: thank so much for joining us. don't move "the willis report" is next. david: don't move. gerri: hello, everybody, i'm gerri willis. there is a hidden takeaway in the new congressional budget office's annual study of household income and federal taxes. it turns out the rich are not just paying their fair share, they're paying almost everybody's else's share. more on this, mark perry, american enterprise institute who did analysis cbo report. scott hodge, president of the tax foundation and paul howard of manhattan institute. great to have you all here. mark, start with you, those cbo reports come and go, my friend but you pulled out some very interesting numbers. i want to read something you wrote. you said top 20% of the american

households finance 100% of transfer payments to bottom 60% as well as almost 100% of tax revenue used to run entire federal post. what is going on here in your view? >> well we hear all the time how the rich are not paying their fair share. so when i looked at this report which is released annually, this report is 2011 data, i dug into some of the details, what i was able to show that they break the households down by income equipment tiles. what i was able to show -- quintiles. bottom 60% of the american households by net income are net recipient and receive more in government transfer payments than pay in federal taxes. fourth income quintile, pays highest, break even. pay as much in federal taxes as they get in government transfers. it is top income quintile, households in america with average income of about 234,000 that it is that group that pays in 48,000, about $46,500 more in

federal taxes than they receive in transfer payments. so that is really the, the main net payer quintile. so they're financing all of the transfer payments to the bottom 60%. gerri: everything. everything. scott to you, doesn't this argue for tax reform? >> oh, indeed, absolutely. we have incredibly progressive tax system. it is one of the reasons why the economy is stalled and it is not growing. we don't have enough money for investment. we have wrong kind of incentives built into the tax system and absolutely time to overhaul the tax system. unfortunately the white house seems to drag its heels on that and trying to divert attention to other things like immigration. gerri: the beat goes on. mark to you, quickly, do you think we'll see it? tax reform? >> i think politically, well, politically it is going to be very difficult but i think as scott pointed out, economically, it makes sense because we have the highest corporate tax rate in the world. we're one of the only countries that taxes foreign posts. and we have one of the most

progressive personal income taxes. i think it makes sense for us to take a look at our, you know, tax burden in this country and really move forward with some reforms. economically it makes sense. i'm not sure politically it will go through. gerri: we have a long way to go, that's for sure. i want to move on to another tax, cadillac tax, this tax was supposed to sponsor obamacare. paul to you, we talked a lot about a little professor from mit, little school called mit named jonathan gruber. he talked a lot in the past about the cadillac tax and now it seems that we've been duped yet again. tell me what you make of his comments about this tax. it is 40% levy on cadillac tax costs. >> well, let's not forget that president obama actually attacked john mccain in 2008 for suggesting that we cap the employer tax deductions. that we tax employer provided benefits for the first time. this is exactly what president

obama did. he created this cadillac tax. denied that it was going to be a tax right on individuals but gruber said secretly we knew all the time this would be tax on individuals. hits 8% of employer plans when it starts in 2017. by 2030 it will be 80% of american employer-based plans. gerri: that is the point, scott. there will be more people than people with the most elaborate plans out there facing these taxes. >> sure. gerri: how much tax will they face. >> it is huge. like the alternative minimum tax originally designed during the 1960s to hit only the rich. pretty soon it was hitting majority of americans and congress finally had to step in and put the brakes on. we'll see exact same thing with this so-called cadillac tax which is going to hit a lot of union members. that is where you will see a lot of people begin to squawk because they tend to be the ones that have these cadillac plans. they're going to be hit most by that tax. gerri: going to be hit by this

tax. i think ultimately lots and lots of americans with decent, good, corporate coverage will be screaming bloody murder. >> sure. gerri: as a matter of fact there is estimate out there we'll end up paying more in income taxes because ultimately what will happen, the companies will scale back their coverage. why will they do that, paul. >> look, all deferred compensation. if you say we'll have 40% excise tax what employer pays you for the health benefits, the employer says i will not pay the tax. i will shift two wages. you will get socked by fica tax, income taxes all the rest. it will drive up costs for middle income families. gerri: the president is running as far from this as he possibly can. it, unbelievable to see what is going on here. here's the president speaking about obamacare. >> did you mislead americans about the taxes, about keeping your plan in order to get bill passed? >> no. i did not.

i just heard about this, i get well-briefed before i come out here. the fact that some advisor, who never worked on our staff expressed an opinion that i completely disagree with, in terms of the voters, is no reflection on the actual process that was run. gerri: all right. paul over here is making all kinds of noises. what do you say. >> he is on the white house visitor logs. gerri: $400,000. he is on the payroll. >> got $400,000 from the administration to do analysis of obamacare while he was promoting obamacare to you know every news outlet left and right. no one was mentioning the fact he was on government's payroll. gerri: you know this, is kind of thing that makes me absolutely crazy. you know, talking past each other. you know, trivial mendacity lying around the edges. talk a little bit more about gruber though. he said something about seniors highly annoying.

he says seniors are stupid too. not just all americans. he says seniors. senior do a terrible job choosing their own public health care plans. mark, to you, this may not be your arena, obamacare, but i'm wondering what you think of the way this law was passed and kind of information that was put in front of the american people? >> yeah, i think it is not that unusual. i think they generally rely on kind of rational ignorance of the american public. so this is not any different than let's say sugar quotas or sugar subsidies but in this case the more people find out about it, the more they realize it is going to be unaffordable care act, like this tax, the cadillac tax will eventually spread and cover a few americans. people will realize that coverage is not the same thing as care. care costs go up and doctor shortages, so i think people, the more they find out about this, the more, the less they like it. and more they're boeing to find out this was really bad public policy. gerri: well-said.

quick question before you go. new gallup polls, americans prefer socialism over capitalism. this is obamacare poll. socialism over capitalism poll. 25% of americans choose socialism, pal. >> people sitting in stagnant economy. watching their income decline under the obama administration. they're frustrated. that is frustration poll. gerri: mark what do you say. >> well i think what people are really upset is not free market capitalism. what they're upset about is crony capital system. and rigged policies that are passed that really are to the disadvantage of the average consumer in middle class american. they don't really object to free market capitalism. they object to crony capitalism. gerri: scott, quickly. >> well, in polls that are showing americans are wholly against obamacare which is socialism. so they're against it in that form at least. i think again we're seeing this

as part of the frustration they're having with the entire system. gerri: lots of frustration. scott, mark, paul, thanks for coming on the show tonight. we want to know what you think. here is our question. are you paying more than your fair share in taxes? log on to gerriwillis.com. vote on the right-hand side of the screen. i will share the results at the end of tonight's show. much of the mainstream media has ignored the scandal involving jonathan gruber or at least has been late to report it. you may have noticed my colleague melissa francis is causing a stir after revealing her former bosses at cnbc tried to stop her, stop her from telling the truth about obamacare. >> when i was at cnbc i pointed out to my viewers that the math of obamacare simply didn't work, not the politics by the way, just the basic math. and when i did that, i was silenced. >> this is not the first time cnbc has tried to pull the wool overviewers eyes. one of its top talents,

suze orman was peddling a prepaid debit card and i called her out on it. >> remember the suze orman prepaid debit card? it was sold as a great way to build credit and manage the household budget. suze orman used her near celebrity status to hawk it everywhere. with no explanation, it has been canceled. prepaid debit cards have zero benefits, people, zero benefits to consumers. and suze orman's card was one of the worst of the lot. her card is now gone. unfortunately the lies about obamacare still linger. we have a lot more to come, including your voice. your voice is important to us. that is why during the show we want to you facebook me or tweet me @gerriwillisfbn or send me an effort mail to gerriwillis.com. at the bottom of the hour i will read your tweets and evident mails. next you may soon be encouraged by your employer to log on to facebook at work, believe it or not. a look at the new software the

social media giant is developing designed especially for the work place. don't go away. ♪

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gerri: well, facebook wants to you spend more time on, facebook reportedly working on a new sight especially for the office called facebook@work. like microsoft office and without potentially videos of facebook. with more, jeremy kaplan, the editor-in-chief of digital trends.com. welcome to the show. great to have you here. >> thank you. gerri: we're already on facebook at work. how is this different? >> everybody is on facebook but the thing is we're not on facebook at work. a lot of big businesses and corporations say get the heck off of it. they don't want you facebooking at work because essentially you're wasting time. it's a different version. gerri: before you move on to that point, we have to say, we have good numbers, 64% of folks browse website unrelated to work at work. i think that number is low. i think 100%. it is undercounted. they go to facebook, linkedin, amazon, they're all over the web

of. facebook wants to tweet a product they use for their individuals lives at work. why? >> facebook is so massive and immense they say 1/6 of the people on plan set on facebook. the way they want to grow is taking more of your time. gerri: almost impossible for them. >> not actually. if you're spending eight or nine hours staring at digital things all day and only spend 20 minutes looking at facebook there is a whole big slice of the pie for them there. how do you capitalize if you're facebook. gerri: they will be competing presumably with a whole new category of websites, like linkedin, you mentioned it before. people are going there looking for jobs, updating resume's, looking for people in their field of work. sales force, where people who are salesmen dot kind of thing. this is important and growing niche, right? >> oh, definitely. this is huge important thing. very hard for a lot of businesses to network

effectively. hard to get collaborative tools. these are things that facebook does incredibly well. there is already very established market in there. can facebook suddenly compete? they're facebook. gerri: answer to the question is yes. >> absolutely they're going to be competing. >> what is the next step in your view. >> haven't actually seen the product. they haven't confirmed it exists. >> this is rumor of a rumor. >> like the apple watch though, right? everyone knows it is out there. they have shown it off. i think facebook has shown it off to a few people according to published reports. but how good is it? see what it looks like. gerri: area mixer thanks for coming on the show, appreciate it. later on the show, could you be driving on faulty tires? we have important new warning from consumer reports. next a new survey shows financial security on the rise for most americans. our first priority is still paying bills. noting, not investing. paying the bills. why that is after the break. ♪ go ahead and put your bag right here.

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gerri: sometimes the bills are just overwhelming. you may feel you're so far behind that is on catching up that you will never catch up. turns out you're not alone. new study from bank rate shows top priority of 41% of americans to catch up on and stay current on living expenses with more, bankrate.com chief analyst greg mcbride. these numbers are shocking. 41% say top financial priority is paying bills. doesn't leave a lot of room for

saving for retirement or putting your kids through college. >> you're absolutely right, gerri. we've seen this three years in a row this has been the top priority and by increasing extent each year. it is 41% this year. that is up from what we found each of the two previous years. so i think it just reflects reality that some people have where the paycheck hasn't increased, they have, other bills that they have to pay. and so keeping their head above water, really ends up taking a top priority. as you said, it doesn't leave a whole lot of room for the other things like looking toward the future. putting kids through college. >> let me interrupt you here. because, we get such good, positive, economic data. apparently the jobs, unemployment rate is going down. you know, apparently, the economy, the president tells me the economy is going great guns. why is it that more and more people are saying, just paying the bills is the top priority? >> you know, that's having because we are seeing, when we

look at other facets of financial security, people are saying, things are better. they're feeling more secure about their jobs. reporting higher net worth. feeling more comfortable with their debt and overall financial situation. what's happening though is that the missing link in this economic recovery has been the fact that for some people their incomes haven't gone up. it is why people are not able to ramp up spending. why we have a slow growth economy. why people don't make headway in other areas. you. you see that reflected, more than 40% of the people say we're trying to keep your heads above water to stay head of bills. gerri: you call this financial insecurity which i think is dead on. another number from your survey i think is amazing, a third of americans say they're less comfortable with their savings. we see time and time again people aren't putting money aside for emergencies. for fixing refrigerator, you name it. >> yeah. absolutely. savings is really achilles' heel

of financial security. one area, gerri, we see month in, month out, people say they're not comfortable with what they have. they don't feel like they're making progress. the numbers bear that out. we find fewer than one in four americans actually has adequate emergency savings cushion. you know, about half either have none or less than would cover three months worth of expenses. so a whole lot of people need to do a whole lot of saving. they're making precious little in the way of progress that that direction. gerri: 26% of americans have no savings. zero savings. zilch savings. that does not put you in a good situation if the worst happens. financial priorities. we mentioned paying bills. number two is paying down debt. savings. to ahead. >> yeah,. you know paying down debt is second but it's a distant second, almost two to one. people prioritize the paying bills over paying down debt. savings is third and then, the fourth place providing financial assistance to family members and

friends. the interesting thing about that one, gerri, that those that were most likely to cite providing financial assistance to family members or friend, those age 65 and up. throws out this notion that it is retirees and seniors that are helping their relatives, their children and grandchildren, not the other way around. gerri: unbelievable. before you go, tell us about the kind of things you're studying. what are the issues you're looking at in these individual people's lives? >> well, what we're doing in terms of the financial security index every month we're polling consumers on core tenants of -- tenets financial security and asking them very simply is it getting better, is it getting worse? job security, savings, debt, financial situation and gives us chance to dive deeper into things like what is your top financial priority? how much emergency situations have you had? are you raiding retirement account for emergencies, those kinds of things. gives us great window into

psyche and financial condition of the american consumer. >> financial security or financial insecurity. greg, thanks for coming on and talking about it. >> thank you, gerri. gerri: coming up next, a new warning from consumer reports on the tires that could be on your car. kelley blue book is out with the best cars and trucks of 2015. find out why this classic truck, this particular classic truck, is topping out the list. ♪ e. how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider

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go to startup.ny.gov. i research. i dig. and dig some (trader more. search. because, for me, the challenge of the search... is almost as exciting as the thrill of the find. (announcer) at scottrade, we share your passion for trading. that's why we rebuilt scottrade elite from the ground up - including a proprietary momentum indicator that makes researching sectors and industries even easier. because at scottrade, our passion is to power yours. gerri: we have new developments in the deadly scandal leading to all those general motors recalls. the deadline for victims of crashes caused by faulty gm ignition switches have been extended for a month as the death toll rises to 33. the man in charge ken feinberg announced the new deadline is

january 31st. gm came under fire last week because the family of a connecticut woman who died in a 2003 crash had not been notified her crash had been linked to a faulty switch even though gm knew it for years. you can hear more tonight at 8:00 p.m. on cavuto. neil will be joined by ken feinberg right here on fox business. well, temperatures outside are dropping. before you know it, winter will be here. in preparation, you may be in the market for some new tires for your car. consumer reports tested various brands and found several chinese tires were inferior and underperformed. here is jennifer stock burger. jennifer, welcome back to the show. great to see you. (?) so you guys did a whole investigation of this. you're so serious about the tires because you see it as an essential safety feature of a car.

tell us, how did you spot these tires and how did you figure out they may be gray market. >> two stories here. the first, we actively went out based on our readers, our subscribers asking us to investigate how these chinese-made tires perform. that was the first story. they didn't perform as well. they were the three bottom in our truck models this year. it was the first story. when one of the manufacturers contacted us to compare what he thought their results were that's when we got the gray market story. essentially, what the manufacturer said in this case, hey, this is our name. we own this brand, but we did not build these tires. gerri: wow. just to underline that. that's hard to get. so you're testing these tires. you think they're from a specific manufacturer. come to find out the, manufacturer tells you,

no. >> the manufacturer owns the name. the pegasus, suv was their brand. they indicated they had ceased building those tires at the end of 2011. the date codes we tested were from 2012. they said there's no way -- gerri: how can that happen? >> what they had indicated was that they had -- the plant that they had been built in had been destroyed. that they had believed that their molds had been stolen and were being manufactured by someone else and essentially brought into the united states in this gray market or even the term counterfeit has been thrown around. gerri: we just don't know. i want to show the name. it's the pegasus tire 95 bucks. cheap price for a tire. if you're in the market and bought some of these, i would think twice about continuing to use them. however, to get back to your whole perspective on tires here, you did

have some top-rated tires. >> the michelin latitude tour did very well. we've seen a lot of good performance by michelin. we encourage people to use our ratings for the area you're in. if you're in the south, you may not need snow and traction and look for those off-season ratings. depending on where you are. a lot of good models out there. you will notice when we talk about the chinese tires, the difference in the prices. michelin tires are $118. gerri: sorry to interrupt. i was just going to ask. if you could recommend a less expensive tire. what would it be? >> the least expensive best performing tire was the 135-dollar continental cross contact. did very, very well. well-rounded. a more reasonable $135.

gerri: what should consumers do if they have counterfeit tires? >> there's really two courses of action. the first is, you know, we would encourage them to contact, believe it or not the customs agency. we've given that link on our website at consumer reports.org the second we would recommend that everyone pay close attention to their tires. if you have these pegasus, you might want to pay extra attention. make sure your inflation centers are right. look for degradation. the truth is we don't know the components that went into them. gerri: thank you for coming on this show tonight. (?) more bad chinese products. government talks about keeping us safe. where are they? got to rely on consumer reports. thank you. if you're in the market for a new car, kelley blue book is here to help. the experts revealed a list of 12 vehicles the

best value for your dollar. what cars came out winners. matt, managing editor for kelley blue book. great to have you back. the funny thing about this list, the first vehicle is not a car. tell us about the winner. >> well, the overall winner is the 2015 ford f-150. and pickups are some of the best-selling vehicles in the market today. the reason we chose the f-150 because of its aluminum construction and its reliance on a lot more turbo charged v6 engines for better fuel economy. it's not only a goodbye, but it represents the future of what all pickup trucks will be like. gerri: apparently, it's very, very popular as we've said for years and years, number one seller in the country. americans choose it first. let's talk about small cars too. mom and dad looking for a small car for kids

going back to school. what's your choice in that category. >> personal leader is the honda civic. that took our award in that compact class. terrific buy. (?) face lifted and reworked threw halfway through its product cycle. honda didn't feel it was as good as it could be. it came through. after two and a half years, redid the car, and it came out on top. gerri: the luxury class winner. which one was that? >> that was the new mercedes benz seat class. and it has all the bells and whistles you would expect from a luxury car. it drives terrifically and a little secret about the car, it's actually built in america in alabama at their assembly plant. gerri: i think four out of the five models you chose, do i have

that right? four out of the five american models that you chose in your list because it's not all american cars not by a long shot, actually have been recalled. and that's sort of amazing. >> there are different levels of recalls. some of these models with, like the corvette, and impala, they're minor, like a latch on a consult cover. so you can't judge a car by whether or not it's been recalled. you have to look at the seriousness of the issue. gerri: chevy tahoe had five recalls. that sounds pretty serious. >> well, they've had big recalls as you mentioned earlier with the ignition switch. but a lot of minor things. even the mercedes c class are h a recall for the steering issues, but it was early in the production run. they got the problems resolved, and once you check it out and take it to the dealer, typically they'll correct any of the problems at no cost (?) gerri: i think all americans are

shocked at the number, the pro portions of cars that are being recalled today. is that going to stop soon. will we get these things fixed? >> well, (?) a car is a very complicated piece of machinery, and there are 15,000 or so parts that go into a car. and you can't have rfeion the wil alwyse someingoingrong e rl question, how do you identify these problems and how do you resolve them quickly and help the consumer out, to make sure this at that they bring that car back in and get these problems addressed. gerri: i'd prefer they'd get them fixed before they solved them. that's just me. thanks for coming pop i think that's a great list. thank you so much. >> thank you, gerri. gerri: on to a recall story. honda potentially deeffective air bags.

they are made by the company takata that could explode injuring people inside the car approximate. they spread shrapnel inside the interior. it will be the topic of a senate meeting thursday. executives will face lawmakers. (?) just to remind you, at least four deaths in this country are linked do takata air bags in hondas. big news for honda owners out there. a leading voice in the senate gives us his prediction for tomorrow's keystone vote. we're looking out for you and your money with our advice in etfs and bond funds. here's your consumer gauge with the numbers that mean the most to you. take a look at that.

gerri: wall street posted mixed results today on news japan. unexpectedly that is slipped into recession. the news initially had investors running to us bonds. as economic slow down continued across the globe, you may be considering in investing in a bond index fund yourself. with the countless flavors you might be stumped which is best for your portfolio. we're covering your assets with ken the chief investment officer for par dice asset management. michael president of president financial group. david scranton. founder of sound income strategies. welcome all. great to have you here tonight. i want to start with japan in recession. david, to you first. how does this impact american investors? >> well, (?) it really piles on top of what is going on in europe right now. if you start to get recession in most of the

world and possibly deflation in europe, it's only a matter of time before it affects our markets and our ability to export products. >> i do agree with dave. i think, you know, with japan, even though it's the third economy globally, he have to remember for the last 25 years, they've been floundering as an economy, even with a lot of stimulus, so it's been -- it's been a challenge. gerri: tim, i think a lot of investors are out there searching for the next right step, what to do next with their portfolios, where to look for yield and gains. what are your words of wisdom for them? >> well, i think that there's -- i think there's tremendous opportunities. i'll tell you, the high yield bond market and the loan market, i think are two of those. you had mentioned earlier about the -- the -- you know, the etfs, the notion of indexing. we are an active manager. what we find the credit

markets, both the loan and the bond markets lend themselves to active management. as an example, in today's environment -- gerri: we need full disclosure, you actually manage one of these funds. right? >> i do. gerri: so you're talking your book here. you're talking about what you sell to investors. just to be clear. >> yeah. i'm talking my book. i'm talking the asset class. and i'm talking about fixed income in general. the notion that -- is a miss, no, ma'am,er, you can't. you can index data. you can index duration, et cetera. gerri: what havone of the topici wanted to talk about is these new kinds, these new flavors of bond funds. high yield has been around for a while. you do it differently. (?) some of these new flavors, absolute return, that are kind of amped pick up david, to you, do you use these with your clients?

>> no, we don't. we -- when we look at fixed income, we look at individual fixed income securities. when interest rates are as low as they are today, at some point they will go up. not right away, but at some point any kind of bond fund or bond etf has as much downside potential than upside. we believe more in the individual fixed income. i think this last product was a way to take an etf and have it be somewhat managed to do kind of sort of what kim does with a tactical management. frankly, it's not the same. gerri: and, michael, is there a big risk in this? a big risk when doing anything, but a plain vanilla fund. >> i'm a fan of this especially in this current environment. i don't think most individual investors are aware of the risk that do exist when we do see that interest rate environment turn around. for the last 30 years, we've been in a

declining interest rate environment, which has been a tailwind to folks investing in bond funds. gerri: when you look at the marketplace, what should individual investors be doing if they believe that rates will be rising? >> yeah, again, same process. i think that if you believe rates are rising, i think certainly, the loan area, there are plenty of options for investors because -- if you believe that will happen. we don't believe that's going to happen. and so i think both high yield and low leverage loans are low duration. that's where investors should go. gerri: let's talk a little bit before you go about the outlook going forward and what will be most important to your client's portfolio. david, what are you looking at? what would be the primary catalyst for change in this market? >> well, you know, right now we have some of these things actually happening between recession in europe, the

new news about japan, i think that a lot of the reason the market is just continuing forward is pure momentum. so it's not a question of if it's a question of when we will get a correction. and i think investors need to be cautious. my biggest concern that buy and hold investors will get hurt. those who have managers that are more tactically based, they actually have the ability to -- to squeeze a little more juice out of this market before it turns. gerri: and michael, what do you say? >> well, i think investors do need to be cautious. i agree with dave. we tend to invest more on the conservative side. so a lot of clients that we're looking and dealing with deal with income based investments. and individual. so things more predictable, whether the market is increasing or decreeing. that's a critical way to look at it. there are a lot of things going on obviously with japan being one of them.

then globally that should cause an eye toward caution. (?) gerri: thank you for coming on the show tonight. appreciate your time. >> thank you. gerri: now, we want to hear from you. the cbo says rich people aren't just paying their fair share in taxes. they're paying everybody else's too. are you? here's what you are posting about my poll question. too many not paying just receiving. all backwards. savers and investors lose out. hard work, taxed heavily. poor work hackettes, rewarded, must change. >> robbed by county and state taxes, still. here's doug: yes, considering my income, yes. in addition to following me on twitter and facebook, be sure to like fox business on facebook. and here's some of your emails, gene from new york: hard to believe how blind politicians from the president on down cannot see the economy is in the toilet and the middle class is

paying the bill. between obamacare and massive regulation and taxes, we don't have a chance to turn this economy around. i agree. joe from texas has the answer: we need a new president, period. ann says this: we love your show. we enjoy your manor, your scope. thank you so much. we love hearing from you. send me an email. go to gerriwillis.com. the house passing its ninth version of a bill pushing for the keystone pipeline to be built. the senate taking up the cause tomorrow. what will happen? coming up.

gerri: high stakes legislation approving the keystone pipeline takes center stage tomorrow after flying through the house this past saturday. will the president green light this project six years in the making? we're asking john hoeven of north dakota who introduced the legislation. or not recently last year introduced the legislation. he joins us by telephone. senator, thanks for being with us. i want to start with your expectations of what will happen with this legislation. will the senate pass it along? then, will the president sign it? >> gerri, good to be with you. i think the senate will likely pass it tomorrow. we have 59 votes that publicly said they have committed. i think we'll get to the 60 tomorrow. then it's very likely the president will veto the legislation. gerri: wow, okay. so i'm curious about the senate vote because it's a political vote (?) or is this a -- are these people saying

we're all behind keystone? or is this something to save mary landrieu. >> we'll get enough votes either now or in the new congress. i think senator reid knew we had enough votes and we would get over 60 in the new congress. so the timing obviously has a lot to do with the race in louisiana. but representative bill cassidy, this is a bill i wrote. and senator landrieu cowrote. but cassidy took the same bill and passed it friday. i think we'll pass it tomorrow. in any event i think the president will veto it. and then we're back at it in the congress. gerri: i want to ask you, the president said this is something that just benefits canada. do you agree with that? >> absolutely. not. to build the kind of energy plan that we want for our country, we have to build the infrastructure that goes with it. that means pipelines, moving energy by rail, by road. we want to work with

canada and together between the energy we produce in this country and working withanad we c g t enegy depden andot ringn oil from the middle east or places like venezuela. and remember, this pipeline will put 100,000 barrels today of crude from north dakota and montana into this pipeline right off the get go. that's expandable later, of course. gerri: the president said this is a disaster environmentally, his own state department said this. approval or denial is unlikely too significantly impact the rate of extraction in the oil sands or the continued demand for heavy crude oil. climate conditions would not differ substantially from current conditions. in other words, the state department is saying, no big env dissect betwn the president and his own state department? >> first off, you're absolutely. right. (?) we've gone through five environmental impact statements and they say

no significant impact. that's pretty clear. the reason he's saying otherwise is because he opposes the projects. the project he's held it up for six years. that's very clear. gerri: how many jobs -- there's a big debate on the amount of jobs this pipeline will create. what's your best estimate? >> there's a number of estimates, i take the one included in the state department report and it indicates about 42,000 jobs. and so, you know, look it's a job creator. it's about more energy. it's about really a national security. gerri: national security. we'll leave it on that night. thank you for coming on the show tonight, senator. we appreciate your time. we'll be right back

hove en. le

gerri: the cbo issued yet another report saying the wealthiest are shelling out more than anyone else when you look at the facts they not only pay enough they pay other people's

share as well. are you one of those people. 93 percent of you said yes. that's it for the willis report. thanks for joining us. have a great night. charles: i'm charles payne, and you're watching "making money." well, the truth is coming out. taxpayers paid jonathan gruber almost $6 million. gruber is laughing at the stupidity of the american voters over five videos of proof. but president obama is in denial. he's saying, well, he's just not hearing about this. of course, gruber was never apart of the obamacare staff. the lies and deception keep growing. gruber actually met the president in the oval office as they were planning obamacare. rich is live in d.c. with the latest on this. >> they paid jonathan gruber to consult on the design of