thank you to them as well. thank you for watching. there are four more to go in the first 100. what is good to be a compass in the next few da 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 asy 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 on 15% corporate tax rate. but when you look at this chart, not a lot 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. and the wolf huffed and puffed...

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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: you oversaw this growth of microsoft. u we 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 existstod.

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%.

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 part of the trump people, paul ryan, mitch mcconnell. it won't be easy. bar very -- maria: "wall street w w w w w i joined the army in july of '98. our 18 year old was in an accident. when i call usaa it was that voice asking me, "is your daughter ok?" that's where i felt relief. we're the rivera family, and we will be with usaa for life.

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maria: here is a look at some of the big market events coming up in the week ahead that could impact your wallet.

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 than the grand canyon state of 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