i'm jamie colby. thanks so much for watching "strange inheritance." and remember -- you can't take it with you. have a great weekend. good night. >> announcer: from fox business headquarters in new york city, the new "wall street week." maria: welcome to "wall street week," the show that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. our special guest, former microsoft ceo and the current owners of the los angeles clippers steve ballmer is with us. it was a busy week. a good week for stocks. wall street betting the moderate candidate will win and preserve the european union. the nasdaq composite crossing

6,000 for the first time ever this past week. the white house calling it the biggest individual and business tax cut in american history. the proposal will cut corporate tax from 35% to 15%. it doubles the standard deduction individuals can take and simply supplies into three tears. the proposal would also repeal the death tax and alternative minimum tax it eliminates all deductions besides mortgage interest and charitable donations. nafta negotiations. president trump telling the leaders of canada and mexico that the u.s. will not be pulling out of and a half today. but the president pledged the deal will be renegotiated. am zong reporting a strong first quarter, shattering analyst expectations.

revenue coming in at 37.5 billion. alphabet, the parent of google smashed first quarter earnings. at 24.75 billion dollars. microsoft reporting a mixed bag with strong earnings but lower than expected revenue. a lighter vol of surface products -- a lighter volume of surface products contribute. our guest this week is the former ceo of microsoft. he leads a group trying to dissect government budgets to give americans an idea of how their tax dollars are being spend. i want to talk about what you are doing. it's interesting. we'll start there and then i'll ask how you are doing post microsoft and with the clippers.

you have a whole trove of data. tell us about u.s.a. facts. steve: it grew out of my wife and my philanthropic focus on disadvantaged kids. she wanted me to get into philanthropy stuff with her. i said let's just pay or taxes. she gave me a bit after hard time and i determined i was going to figure out where government money came from and where it went and what kinds of outcomes it got. and it was hard to do, you do a search and a search. and it was hard to form a holistic view. i said i wish there was a 10k i could go read. i couldn't find anything that was that comprehensive. there is a document treasury department writes. i said let's see if we can create this. we wanted to make sure it had

context, history, it was comprehensive. in a sense almost everything has state, local and federal contribution. take scooments as an example. but the toughest problem is how to make it understandable. comprehensible. what are the functions of government? we looked at the preamble of the constitution as our guide. it gave us four segments. four segments and we have a bunch of submissions underneath. maria: i love that you are analyzing it as a 10k. every investor those when you want to know what's going on in a company whether you want to invest in that company you want to look at the 10k. you want to look at where the revenue is coming through and where it's being spent. it's extraordinary that most people don't understand those deef tails when it comes to their government. >> we decided to create the 10k.

this is a printed version of what we have done so far. maria: an annual report of what the government is doing. >> then we did a simplified version. maria: i read the summary. i have got the cliff notes. tell us what this page says in terms of government revenue and explain to our viewers why this is so important. steve require starts with the total steer *. steve: it starts with the total revenue collect. we show total tax revenue, and non-tax revenue. there is a lot of non-tax revenue, interest on pension funds, et cetera.

individual income tax, property tax, payroll tax. maria: not a lot of money comes from corporate taxes. steve: that was surprising to me given the level of discussion. it doesn't tell you whether corporate taxes should be lower or higher. maria: but that's not where the money is. steve: i was surprised how large payroll tax was as a percentage. we break that down further, social security, medicare, disability and the like. maria: in the conversation who paves what and will people see their taxes go down. it's important to recognize where the tax revenue goes. steve: most of the discussion is on individual income tax and a little bit on corporate. not on payroll tax which could be an interesting discussion. not on property tax and failed

and excise taxes. maria: president trump campaigned 15% corporate tax rate. but when you look at this chart, not a lot of money is coming from corporate taxes. even if you get that tax rate down to 15%, is that going to move the needle in terms of overall debt and deficits? probably not. why aren't we getting a lots of money from corporate taxes? because companies have a lot of loopholes. steve: that's true. are the loopholes 1% of total revenue? 2%? i don't know. i don't have that fact in here. but i estimate fit would be relatively small. there is no such thing as a corporation. the corporation has shareholders. the shareholders are paying corporate income taxes effectively, and capital gains taxes.

so the question is what is the best way that lets companies make smart decisions but levy the same amounts of tax on shareholders. that's something i would encourage government to think through based on this athat is. ultimately the voters' job is to hold government accountable for the deef significances it makes. maria: stay with us steve ballmer. we have a lot more to discuss on "wall street week." >> announcer: microsoft legend steve ballmer was an industry leader for 30 years. would he do it any different today? >> when i joined we were at $5 million revenue, when i left it was roughly $80 billion.

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maria: we are back with technology titan steve ballmer. you are like a founder of microsoft. i know you weren't the co-for under. but when you got there what were there, 30 employees? steve: 30. maria: oversaw this growth of microsoft. you were there 35 years. ceo for 13 years. how has microsoft grown in your view and where does growth happen next. not to have you comment on your old company and what the correct o is doing now. steve: when i joined we were at $5 million a year in revenue. when i left the company was

roughly $80 billion. maria: $5 million to $8 billion. that's such an incredible achievement. steve: you say where does that go? the answer is almost limitless in terms of what innovation can bring. there is still so much to do. i think of it in two pieces. what goes on in the back end of the internet with the apps get built and the computers get powered and the thinking gets done. then that device, laptop, microsoft surface where you are seeing the world. and there is going to be innovation on both sides whether it's virtual reality or augmented reality. and more and more intelligence and ability to learn about the world. those things will happen. and there will be growth. some of the tech that exists

today will become obsolete. but there will be new technologies that replace them. i'm a great believer in all aspects of the economy and technology. for every door that opens, another door closes. maria: i have been looking at the healthcare part of technology. that's really where there has been incredible growth. sensors all over our body, telling us, my phone told me to go to the doctor, you are going to have a heart attack. i know cloud is big and commerce is big. but within technology in general, is healthcare a place that still has growth? are there other areas you think are the next big thing? steve: healthcare is interesting. we know there has been great

investment in technology. yet healthcare costs continue to rise. if you do inflation-adjusted work even the last 8 years the cost of a hospital stay has risen 30% and the length of a hospital stay is about the same. and you say why is that the case? are people living longer? well, we don't look at life expectancy we look at the average age at which people die. that will tell you change in how medical technology extend life. that hasn't changed that much in the last 15 years. it's gone from 72.5 to 73.32 years. that's the age at which people die. there is a lot of increased investment, but we are not seeing quite the output. is this a technology? or is it the pricing strategy? there is not the same kinds of

capitalistic pressures in the healthcare industry to improve products at the right price. the technology is about improving the product as opposed to looking at price value. somebody comes out with a new phone you will ask two questions. one, does it do something interesting for me that i can't do. and number two, what's the price. that doesn't happen in the healthcare industry. the government structures the industry, it regulates the industry and it's the biggest pair with medicare and medicaid and other government program. does government have a role in helping structure the economics of the healthcare industry? products don't just get better every year, but they get cheaper every year. in the healthcare industry the problem is with new technology, can we deliver new technology and new treatment at costs that are sustainable over time? maria: that takes a lot of

constituents in on that. how much fun are you having running the clippers, by the way. you are such a perfect guy for sports, basketball, because you can insert technology to actually get more people into the court. get more people to engage into the game. have you been trying to do that? steve: there are two aspects of that. what you do for the fan watching at home. in the arena, you have to be careful. as doc rivers and the coach and i discuss. you don't want people not watching the live action. we are being thoughtful about what we do with tech in the arena. the energy of the games part of the reason people come to the game. i want the fans to be part of helping us win. our players say the energy in the building actually helped us. we have to finds right balance.

maria: when you have first bought the clippers were you have thinking this is a huge money-making opportunities? or are you thinking you are going to have fun in your life? steve: mostly fun. but i'm not going be stupid in what i pay. what's the payout and what's the asset growth. the team can break even, it can lose a little money, it can make a little money. i'm not afraid to pay luxury tax to win. if you don't pay the flux are you tax we can get a 3% dividend return and we are getting price appreciation because these basketball teams will continue to appreciate as the stock market appreciates. i'm not not going to sell my team. i'm not look at the dividend returns.

i'm look for the fun, which means we'll be look to for the championships. maria: steve ballmer joining us. don't go anywhere. "wall street week" will be right back. >> announcer: friday's numbers didn't impress. but can the president's tax proposal fire up the economy? >> we believe we can get back to 3%.

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and to find out how to catch exclusive videos featuring rdma host jordan fisher. and the ardy goes to... watch disney channel presents the 2017 rdmas. april 30th on disney channel. maria: the gdp number growing at a disappointing .7%.

but the president's top economic advisor gary cohn told me the tax reform proposal will play a crucial role in improving that number. >> we'll put money back in people's pockets. it will continue to growth economy. maria: will he be able to help spur that kind of growth? dan mitchell joins us. what was your reaction to the tax proposal. let's talk about what we heard. the president comes out with his white paper. targeting 3% growth. we got the gdp number which was uni am pressive. -- unimpressive. >> i think the tax reduction will be good for the economy. in cohn described the keynesian

approach. lowering the rates is going to be the key to getting more income. proposing a tax cut is the easy part. shepherding it through the process is going to be a real test of the trump administration. maria: this is going to get marked up. paul ryan had a tax plan as well and was at a 20% corporate tax rate. >> i think it's a trial balloon. what is going to be important to watch, what will the bean counters when they do the official revenue estimate before it really plays a key role in

what can move forward, a lot of republicans even though they theoretically exist to cut tax, when they see a multi trillion dollar number associated with this tax cut, they are going to say we are not doing much to control government spend. can we just do a big tax cut? that's why it will take a lot of skill on the part of the trump people, paul ryan, mitch mcconnell. it won't be easy. bar very -- bar very -- maria: "wall street w w w w w

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automaker sales kick off the week, followed by the important jobs report friday. that will be closely watched. earnings season in full swing. the companies have been reporting weren't s & p 500 have shown growth in earnings and revenue at 6%. am, pfizer, 21st century fox. berkshire hathaway and cbs. congress could vote on healthcare as early as next week. monday puerto rico faces a deadline to restructure $70 billion worth of debt. bankruptcy is looking like a possibility there. coming up next week, the must-see interview with the ceo of nasdaq.

don't miss ""mornings with maria"" where my special guest will be treasury secretary stephen mnuchin. i'll be live from the conference in los angeles. first, bob massey fit show, property bob massey fit show, property for 35 years i've been practicing on living in las vegas. ground zero for the american real estate crisis. it wasn't just i guess i was at heart, lives were destroyed from coast-to-coast. as the economy tanks, now, it's a different story. the american dream is back. and nowhere is that more clear arizona. so i had up from the strip to the desert to show you how to explore the new landscape and live the american dream. i will help real people who are facing major problems explain the bold plans that are changing how americans live and take you

behind the gates of property that you have to see to believe. at the end of the show, i'll give you critical tips you need to know in the massey memo. information is power in the property man. >> thanks for joining us, i am a bob massi, one of the greatest aspects of the internet is its ability to connect people to each other. it is now changing how people use their home. countless sites popping up that allow you to turn your property into a short-term. >> was born out of an idea of renting. to facilitate a transaction between houston travelers. now, it has exploded spee-01 to its home away, brb oh, room drama, and the biggest and most well-known, air b&b. >> air b&b redefines an expanded

room capacity that shifted the economic models and tourism. >> the growth of air b&b has been state. >> when you take a look at that maybe 700,000 -- is very, very fast and it very short amount of time. >> he's got a large shed on his property outside of arizona. he decided to turn it into a rustic area. >> before his recycled board and this was on board from investor buildings downtown phoenix. >> you throughout much of the walls and install garage doors on both sides. it opened up to completely bring nature. >> the concept was to have an open plan so that you can prepare a meal here and then your guests can sit at the stool

we have this interactive, enter outdoor. >> bob listed it on air b&b is great. >> people who stay here have a unique experience. have the openness of the house, they can eat outside. >> he says so far every guest estate here has been wonderful. they have really enjoyed it. >> , i guess say this is that the best vacation of their life. it's unique. you can go to the grocery store it's five minutes away and is the same exposure to the area but the privacy. there is a fireplace, an outdoor fire pit, there's horseshoe pits >> it provides an authentic and private and will. >> almost anybody that stayed here enjoys wildlife. >> we have an authentic

experience to get from the hotel and many folks know and appreciate that some people just can't handle the thought of strangers living in the home while others embrace it i'm open to having people stammer home. just as it's all replaceable. >> rachel and her p.m. often rent the house out to air b&b. >> i'm thankful to this website because of cleanup our home gives us the ability to go travel which i think is key for family. >> they have traveled all over the world scene at other people 's homes. >> another trip that i loved's we went to florence as a family. we are able to rent an amazing castle about a hundred $45 per night, we chat our own room. >> how does it work? [inaudible] it's something about the host, so people feel comfortable.

>> the i stay the first time in paris using air b&b. it was an easy process. just click on the map of paris and clicked where i wanted to stay. >> there many people out there who cannot experience in area by staying at a hotel. >> i can do laundry, have my. i can open up the windows and see the neighborhood that julie made me feel like i was in paris >> what is critical is trust in this whole process. >> when first meeting our visitors we meet, so around the house. >> i have no problem with all the people who left the cabin the weather found it. >> this is our welcome book we created our family picture. and then i'll list of area foods and drinks, and our favorite

places to go. >> air b&b is culture. part of it is the way guests reviewed the host and the host reviews the guest. >> it keeps it ominous for. >> if you're thinking about doing this you have to check check the roots of your apartment complex, ho a and local laws. it is all new but sadly the laws are catching. >> every state, every locality can be different so you have to be on top of that. in the state of arizona governments recognize this could be a great revenue generator. in other places it could be up to your chilly, your city, it could be your lease agreement. >> san francisco law currently states you can only rent out your own primary residence. air b&b recently agreed to crackdown on people listing multiple homes in san francisco. it will kick host off the site turn homes into private hotel. cities like new york have banned

rentals of less than 30 days. like uber drivers were suddenly caught between being a carpal in a taxicab. people are now finding themselves to be amateur hotel operator. >> you're like a professional. you are not a business, you are not a -- you can be between. you have to be familiar with the laws, rules, and regulations. hotels are going to have to figure out how they are going to compete. they make it into shared alternative accommodation. >> up next, i will take you behind the scenes of national

>> welcome back. i am bob massi, the property man

ask anywhere concerning the famous architect that use your only monday. frank lloyd wright considered the greatest american architect. his concept and how we live, how homes were designed is revolutionary. >> wright was born in 1867. was already working as an architect by the time he's 20. over the next 70 years he designed anything you can think of. presidential homes, schools, churches, skyscrapers. even museums like new york's -- >> he start practicing in the late 18 the traditional models. he change the way things were built. and how people lived in america. >> in the 1800s victorian homes where square house, square room, you open a door going to the next square room. he blew that open. >> you want to buildings in the

united states have their character. why uniquely american. in 1937 he brought 160 acres of land in arizona. he built what he called his winter camp. was right here in scottsdale, arizona. >> he had been here in the 20s working on the hotel and fell in love with the desert. for him it was your geometry. the rocks, mountains, it was his laboratory. a place where he came and experimented with architecture. >> today it is the home of his school of architecture in the frank lloyd wright foundation. the property itself is a work of art. >> he built of the human scale. everything in the desert is low, the trees are low, so is building tunnel. he also uses low ceilings to push you through spaces. like the entrance, dropped the entry below should the space bar skull compression and release.

>> you sit on the bench and it frames the view of the mountains in the distance. it captures the garden. use of the japanese technique called borrowed landscape immaculate the way he believed that he designed that things should look. >> some of like a seamless transition between outdoor and indoor. >> from when i was a kid frank loyd wright, you knew he was. >> he was a light personality, he really wanted to loosen her the way americans live. >> did you hear about people who write music is always in your mind, the lyrics, the sound. when you see the things it's like a genius. he would look at the whole building in his head and then going to the drafting studios and import all out.

>> the entire compound is over 491 acres. constructed over span of 20 years by right. >> this is a drafting studio where guggenheim was design. he did not have a lot of work. if you cannot create architecture -- they created the school. when you come your fully immersed in architecture. you are the everyday. you'll see students working in the drafting studio, cooking in the kitchen, setting the dining, and the students have been working in the space continually since 1932. they are learning by being completely immersed in the building. >> talk about immersive learning just as they did in the beginning, the students live in the desert with structures themselves. >> he first came here 19. there is nothing here. he purchased the campus ten for the apprentice to live in while they constructed. at the head pretend they would expand on the tenth.

maybe at a wall, concrete floor until it grew into a shelter. and this tradition continued on our school. the students built their own shelter. >> we live in the desert and that is a way of engaging and knowing how to respond to nature by living in it. >> overtime they expanded studios and performance spaces. he designed the music pavilion. >> music and dance run apart parts of the community. this building was constructed in 1956. the apprentice was put on a performance, open to the public, he would come up. this is a cabaret theater. after world war two in 1950 he constructed the cabaret that was built into the ground. it is a wonderful keepsake space from any spot in the theater you can the tiniest was for onstage.

>> it is all concrete but no echo. you cannot design a commercial kitchen if you have never worked in. you cannot design a restaurant if you have never served. so in whatever they were making their rechargeable serving the meals, setting the table. >> you have to understand the best way to do it is just to do it it is desert intensify. he wanted it to feel like it had grown out of and it had been here for all time. if you look at the walls and look at the floor of the desert and imagine the floor, that is also present. >> it is preserved as a national historic landmark. members of the public arrive every day for guided tours. >> they have over 100,000 visitors. that come through and get to experience this jewel. >> up next, i receive an e-mail from a couple who had tried to

hey you've gotta see this. c'mon. no. alright, see you down there. mmm, fine. okay, what do we got? okay, watch this. do the thing we talked about. what do we say? it's going to be great. watch. remember what we were just saying? go irish! see that? yes! i'm gonna just go back to doing what i was doing. find your awesome with the xfinity x1 voice remote. did you know slow internet can actually hold your business back? say goodbye to slow downloads, slow backups, slow everything. comcast business offers blazing fast and reliable internet that's over 6 times faster than slow internet from the phone company. say hello to internet speeds up to 250 mbps.

and add phone and tv for only $34.90 more a month. call today. comcast business. built for business. >> welcome bk. i am baby to bob massi, the property man. a year ago they put in an offer on a house that was listed for a short sell. >> it is a property i used to play when i was a child, seven or eight years of. a lot of memories. >> the property they want was bought by the current 2006 for $600,000. right before the housing market collapsed. it is now worth just a little over half of that he had a situation of losing his job. so they tried everything they

could to keep the property. they realize how much we care about it and that we are going to take. >> to your knowledge, i understand they vacated the property how long ago? >> going on two years. >> they did not even make payments for a couple of years. >> correct. >> the home has been empty for two years and slowly falling apart. >> it is dilapidated. there is no long been, mother earth has taken over. >> a short sale is when you're selling to be the property for a value less than what is okay chase bank service the mortgage. the actual note was owned by fannie mae. sean put in an offer but the same day the note was sold. >> at which time when fannie mae realized they made a mistake there was an offer on the table, they had to buy it back. >> over the course of a few months they went back and forth to the bank with offers and

counter offers. >> it is so much frustration, a lot of emotion. >> we are just a piece of paper in somebody's desk. they did not know us or care about us. >> finally an upper was accepted but the same day they sent in their signed paperwork, the note was sold, yet again. >> the owner accepted it, we accepted it, we'll find on, the bank didn't. at which time we sold it again and it was an emotional roller coaster. we were ready to go. this house and this piece of paper just gets shifted from financial institution to another one, to another one. >> even though the seller agreed to the offer still has to get through by the new holder of the note. >> the seller really wants you to have this property because he knows i'm passionate about this property. >> because of the history. >> because he knows i will take care of it, he was a great guy.

>> a perfect example of two people at the meeting up. the seller and buyer. you're willing to pay, he is willing to sell. but in the situation we have a third party involved which is why this short sale process is frustrating. >> we have been in the process for seven months. >> in seven months you literally had three servicers of the loan. >> yes. >> reporter: and you had to try to negotiate with. >> there is also a second mortgage and judgment properties the judgment they negotiated with are willing to go away. they're going to have to negotiate with the second. agent not to the budget. >> even if the second mortgage decides will take thousand dollars to write it off. they owed 200,000. the big issue for the seller's, will that first and second mortgage way the balance of what is owed on that property?

remember, on a short sale assuming the lender agrees to sell the property for less than what is owed, the key for the seller is that deficiency, the difference between the actual value, receipt, and money owed is what you want to have waived. it is the second mortgage that is many times caused the problem so, if they accept it and they wave you have a deal. then you close escrow. and life is good. you get the property, the seller walks away from the debt, and that is it. if, on the other the answer is no, the answer is no. and the frustrating part for so many americans that to this process is they saw a ready, able and willing buyer that made a good offer on the property. the lender turned it down, foreclosed and sold it for less what the offer was in a short sale. don't ask me to explain why and how. it makes no sense.

>> my vision is a wraparound porch on the whole thing. this house to be so beautiful. >> i can feel the emotion in your voice. i do not know how you walk away from this and how you are dealing with the idea that you may not get this. >> i will get it. it saddens me every day i drive by this property knowing that it is not be taken care of. you come back in one year or 18 months after in your. you would not believe

>> time now for the messy memo. i received an e-mail from john. was the first house he bought in texas. his mother flew down to help of the house. when they are in the kitchen john month that, this kitchen is very dark, what is the story? he started walking around the house and there's two windows. on the outside part of the house is covered with bricks in the inside with the kitchen is, the cabinets covered up the windows. what's amazing is probably in his excitement of buying the home for the first time, it happens to all of us, they never saw it. were starting a new segment called property bloopers. send us your pictures of any property bloopers to property man at foxnews.com. can't wait to see them.

that is all the time we have for today. be sure to send me your property stories, questions or pictures of your property bloopers. send them to property news at foxnews.com and check us out on facebook and twitter. there's also plenty more information and videos on our charles: thank you very much. here is lou dobbs. [♪] lou: good evening, there is a lot happening on this the 99th day of the trump presidency. we are beginning tonight with breaking news. north korea has test fired a ballistic missile. the missile which launched has been assessed to be a kn-17, single staged liquid fuel rocket. it flew roughly 25 miles and was in the air for 15 minutes.