i'm jamie colby for "strange inheritance." thanks so much for watching, and remember, you can't take it with you. [ airplane engine buzzing ] ♪ountry is facing -- >> "bulls & bears". >> when i talked about raising minimum wage to $15 an hour i was told it's a radical idea. the seven states of redundant. it is time for the federal government to do it. >> good evening a "bulls & bears", bernie sanders pledging to raise the minimum wage. but the 2020 democratic refuses hypocrisy by his own campaign staffers. good evening i'm jackie. during the on the panel, john burnett, great to see you guys. bernie sanders facing heat as the washington post reports. some members of the own campaign are claiming they are not being paid the 15-dollar minimum wage

their candidate to before. field organizers who currently make $36000 a year told the post they work a minimum of 60 hours a week which works out $13 an hour. union members say in a drafted letter that this is to be expected. it is expected to be expensive of a campaign manager, they're barely managing to survive financially which is severely impacting the team productivity and morale. some field organizers have already left the campaign as a result. let's start with you zachary. >> it is certainly not particularly good optics. sanders has been good about raising a lot of money. it's not like they cannot pay this amount. they are not a bootstrapped campaign. it is a little puzzling that he would not put his money where his mouth is literally. it is money that he has and money that you can pay these people. not the best pr knowing to

mankind with bernie sanders and his compete. >> gary, your thoughts? >> the great thing, it's a learning lesson. i will paraphrase, give the definition of a conservative, it is a liberal who has to manage payroll. he is basically made with his campaign funds and money he gathers, that is to pay all these people. he is learning the hard lesson that everyone who has had a payroll, had to fire people, had to hire people, entrepreneur has to learn. when the government starts to dictate how much you make, it's tough to run an organization. i guarantee, if there is no minimum wage, these people would be happy to work with sanders. knowing that they have to make this arbitrary $15 an hour has raised their hackle probably rightly so. they're probably working way more than the $36000 a week.

i hope this is raised as an issue and bernie starts to learn. although he won't. what it is like to run a company in america when the government dictates certain parameters of the organization. >> exactly. to build on gary's point, the thing is, he gave the typical response that the ceo gives. when their questioning all wages. you know what we pay 70 to welcome competitors. the systemic skus bernie sanders k. you not walking the walk and talking the talk. if i were to give us digestion to all the employees in the can paint like we see in new york city, they need to get the big balloon rats. blow it up as big as they can get it and sit outside and bernie sanders headquarters and say you are the rock, pay fair wages be back the irony is is he encourages his worker, he cannot

compete with his competitors because he has to pay higher the market wages. that is basically -- if you are smart about this palsy, he will come back and say this is exactly why you need a federal law because i cannot pay my workers or my competitors or all go out of business and not win the presidency. he's not saying that, he gets lost and he says i encourage them. the bottom line to highlight why a federal minimum wage isn't such a great idea if it is high. it seems like he invented it. when he invented it was higher. in 20 years $15 will not seemed like a high wage. states and cities should be doing the above normal and that's what we have seen going on. it will work for some and not for others. but at the federal level at a level where some states are so much lower income levels and so much lower cost of living. that does not make any sense. >> here is the thing, i want to make one point that is crucial.

the campaign workers for sanders, they are not hourly workers. they are paid on a salary. certain industries where you except that is a great job and you want to be on the team. and you are willing to take the salary. they agree to this. >> better level media being one of them. i want to know from you guys, when the federal government passed th federal wage loss, the were comparatively high. that was a high mark. are you opposed to that, if we had this panel in 1967, would you have the same response to federally mandated minimum wage? >> first of all, you cannot have the cost of living, as i'm sure jonas will agree with federally mandated wage, it's entirely different and avoid the new york city. the country is not equal. it just depends on supply and demand.

there will be more than enough people at the minimum wage applying to walmart and down the street. the local coffee shop probably cannot get anyone to work. it depends on supply and demand. i don't think government should be in the business object contradicting any office. no matter what they think is fair to any company. >> a couple of questions, the house passed a bill saying minimum wage should be raised gradually. not likely to pass in the senate. do you think this is a start of the turning of the tide? >> i think it should've been turned into an index system to inflation a long time ago. democrat had plenty of opportunities in power to have a political football to play with. it should be set at a level that is below essentially a high wage so it does not create disruption in the workforce. obviously a level that was sent to the economy, a $50 minimum wage and things would stop working. 15, higher adjusting from

inflation could cause disruption in areas that has high wage. that is why it needs to be more localized, tied to the cost of living and indexed to inflation to make the problem go away. technically we do not need one, but it makes the workers not want to revolve. >> we will have to leave it there. meantime market is moving this afternoon on reports of ironic seizing a second oil taker. this is the day after president trump says u.s. forces shot down an iranian drone. the latest details next ♪ ♪ >> if it only goes to show what i'm saying about iran. trouble. nothing but trouble. ♪

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>> iran, the economy is crashing. they are trying to bring soldiers.com. a lot about things are happening to them. it is easy to straighten out or make it a lot worse. >> bad things, president trump giving a stern warning after the second oil tanker. sending stocks lower around 2:0. oil soaring about $6056 a barrel. >> this is called an active person. this raises tension in an already tense region. the shipping company for one of the tinkers says it ship was sailing through international waters in the strait of hormuz an unidentified small crafts and a helicopter portrait and they

cannot contact the ship and saw that it was heading towards iran north. in a statement they say these seizures are unacceptable, freedom of navigation is maintained and all ships can move safely and freely in the region. they said the ambassador in tehran is in contact with the iranian counterpart in an attempt to get the shift back. president trump issues another warning to iran. >> i hope for their sake i don't do things foolish, if they do they will pay a price like nobody ever paid a price. >> about two weeks ago, the iranian and taker had violated eu sanctions delivering oil to syria. as they seized these two ships, senior u.s. officials say they met with 16 different diplomats at the state department. all trying to find a way to prevent this from happening. it was a discussion on maritime security in the strait of hormuz, the point they're

trained to make is the strait of her meals doehormuz, much of ths headed to your. europe is try to get them aboard and protect shipping in additional meetings on all of this. as the u.s. is trying to figure out ways to make sure these incidents don't happen again. back to you. >> joining is now james from the heritage foundation. did it surprise you that the iranians to the british oil tanker? >> they tried to take one the other day. just like they know we will not do this again. this is what they do. they take hostages, sometimes college kids on the streets of tehran, this time as well tinkers. they signaled there was going to do this. it bows on this that they allowed this to happen. >> is a part of the issue?

many different factors that you alluded to. some of them wanted to do a deal but others there were itching to be a global menace with a conflict of western powers. his outside winning since we left the army in nuclear deal? >> i do not think so. i think unlike the shutting down of the drone which may or may not even a deliberate act of the government. i do believe the seizure of the tinkers is part of a government policy and they announced it was trained to do that. what the iranians are trained to do is very clear, they are piling up chips to negotiate later. they will take hostages, they will try to frustrate the freedom of navigation street, as somat some point they would have cards to deal with. >> earlier this week secretary

of state mike pompeo said that iranian said they do want to negotiate and they want to talk to us. i was on the air and said if you believe them, not that i do not believe the secretary of state. but the iranians will put these false chips out there and try to make us think they are coming to the negotiating table and then will do something like this. we have seen it time and time again. what is interesting, the reaction from the oil market. there is so much more supply globally. as you mentioned, industry of hormuz a lot of oil going to europe. the u.s. is not independent on it as much anymore. that is why the president is much work optimal taking the stance that he's taking. but what this all shows of the bottom line is removing and getting out of the red run nuclear deal and putting shane chins on iran getting the alleys to work with us. it is absolutely crippling the country. >> i think first of all, there is to get things to remember. the somali pirates took ships

and we did not have to bomb somalia to clean that up. we figured out how to do security operations to keep the traffic flowing. we did this in the 1980s. right now we need to keep our eye on the ball which is to keep the traffic going it takes six to seven hours to transit the region. once somebody takes over the ship is difficult to get it back. you need a lot of presence. if there is a silverlining, all the europeans are saying we would rather not do this. now the united states, are you guys going to step up and do this. if you're going to do this this could lead to an escalation and to a lot worse. it is better for you to get in the game and help us out. >> on that point, when you tackle the uk, it's an attack on nato. what that says, you don't wait until things get really bad start talking about your scenario. what with the u.s. and then a

donation altogether, what would they be talking about in terms of their option to confront iran if things continue to go down this path. >> i don't think iran is interested. they would not be stockpiling these chip if they weren't going to the bunker. they are trained to put pressure on us. the way that they counter that is very simple. it is not in article five situation. all we have to do is keep the streets open and protect shipping. the united states just announced its increasing air cover over u.s. like tankers. other people need to jump in and together we have more than enough capacity to keep this open and turn the vote from coming out. that's what we should've been doing. and shame on the europeans for not stepping up before it became a dire situation. >> so you think they should not have a plan was to mark. >> there is very little things a ship can do. they cannot see these things. it is a big thing floating through the water.

they do not know they are approaching. once the approach and take action against him, you cannot do maneuvers with an oil tanker. you could go in one direction. once they get there they are trapped. >> short-term memory loss is a great boon to debating the current morass of what is going on in the persian gulf. there was a deal in place, as bad as it was, it had the support of the whole ally that we unilaterally said we will not go with anymore rather than implementing it further, renegotiating, working with allies to create a more cohesive policy. now we are left with a deal that the europeans aren't in a deal that were not in. that was not going on one year end half ago. >> how are we in a better place? >> yet a deal that was not working. that's like giving to be a pill that will not cure the cancer. >> it doesn't mean it's true.

>> let me finish, it is true. the second point is also wrong because the united states was a european ally and they said listen, work with us and put together a better deal and we will not pull out and the europeans did not do that. we are where we are because of policies were not working. stating up tehran is better than letting them run wild. >> those are not the only two sides to the question -- >> iran is taking illegal action. it's an irresponsible actor. they shot down an american drone and international airspace. it's doing piracy. >> there you go. >> okay everybody. elizabeth warren has another idea. she sees more vampires than monsters and a thriller video. she is a plan, an update from capitol hill next.

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company. and taking it from monitoring and transaction fees out of the countries that they buy. she would hold private equity responsible for the debt that they incur purchasing the company. >> private equity company, to common to businesses that are operational like shopko, sears, toys "r" us, suck out all the value, solid offer strap parts, and leave thousands and thousands of workers with no jobs. my plan you have to stop doing that. >> the idea is not going over well. the american investment counsel releasing the statement in response. private equity is an engine for american growth in innovation especially in senator weren't home state of massachusetts. extreme political pans only hurt workers in economy. she is also teaming up with some of those in the squad.

they are backing this crackdown on private equity. she also issued a letter with aoc directed directly at private firm sun capital of jv discount retailers shopko into bankruptcy and not giving any of the employees out of jobs of severance pay. >> what do you think of this? >> i was trying to come up with the right word on this and i guess what it finally came to was scary. this is an attack on capitalism. elizabeth warren, the buggy whip manufacturers would still be out there for thriving, not worried about cars or anything else. thank god toys "r" us went under. they deserve to go under, they could not compete with amazon's of the world. if we are worried about vampires and we should've been worried about amazon, we should've been worried about google, microsoft, all of these were vampires that suck the life and capital out of

other competing firms. if we did not have venture capital private equity firms you would not see a machine like this. an iphone that has more power behind the moon landing of 50 years ago. this is an attack on what has made america great and in warren's world she would like to have all the power and the money of the government because they know better than everyone else. >> you make an excellent point, i want to build on that. this is the problem with the democratic party. there is so much pressure to go left, left, left. to be more like the squad and at this point they are coming up with rules and regulations for the sake of doing it. i was on a show and the panelist said nancy pelosi is considered body o moderate. when that is the case you know how extreme the party has gone. there is nothing wrong with a little regulation, for example

out of the financial crisis. at the same time you are going to chip away at the capitalist engine. i don't think they realize -- >> you both made excellent points. i waited disagree with. to the roosevelt in the 1900 real against the manufacturers of great wealth. franklin roosevelt railed against bankers and this was a level of legislation. if we were having this argument in a 235 you would've said the same thing about the new deal. maybe for good reasons. it created a balance in the 50s and 60s return capital labor which is a sustainable system. what is wrong with a little more regulation. >> i will answer that. it's the second time you asked us to have a hypothetical debate in the past. it is a very interesting point. since the 20 roosevelt era, we have had dozens and dozens of

federal agencies they do pretty good job. they are supposed to be in charge of all these vampires in the capitalist world. as it turns out those agencies let a lot of vampires get to the system. bernie among them. they all had existing regulators. elizabeth warren created a new one, her signature act, really we have to structure, it is not a 1910, they are not doing a good job because the government is not run well. to this specific proposal the government will solve the problem that they have not solved by existing agencies. the only one that makes any sense is why these vampires are taxed at lower rates that ordinary people make a couple million dollars a year. when the top taxpayers pay lower rate many private equity. that is the only part the democrats need to fix and have not fixed for decades prayed in the rest is a whole structure of

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we are facing an unprecedented crisis of the border. u.s. customs and border

protection has apprehended as we say here today over a hundred thousand migrants crossing the border from mexico since octobe. >> that was homeland security kevin mcaleenan before congress yesterday. before leading a group of senators to see conditions firsthand. senator majority leader leading his own group of senators to the board. in the third group of bipartisan cognos meant and women is also on the border. including the ranking member of the house border security subcommittee louisiana congress man. >> it is border day for congress. is this a good time there will be progress ahead? >> probably a little bit of both. but for my side of the, i think it's a genuine effort for my

colleagues, they are seeking, and there is no national facility and test with control on this incredible flow of humanity coming into our country illegally. i think it's done with an effort. some on the other side had a better idea of what we seen and i believe some of my colleagues on the left were surprised of the level of humanitarian provided for these -- especially children on a company or family units. since we passed the border aid in the supplemental at the end of june. in a tremendous endeavor with compare and compassion for these children that are crossed in our country although illegally. they have to be processed and with the best interest of the

children in mind and seeking shelter. it's a massive endeavor being undertaken by the law enforcement professionals. >> welcome to the show, it is gary smith and florida. i was doing a little research back in the late 1800s. the situation actually was not dissimilar when hundreds of thousands of people migrated over from europe legally i might add to ellis island. they were forced to wait and chips off of the coast for weeks and months at a time and there was multiple people to a bunk thomas who'd was scarce but that is the way it was. that was the resources that we had and there was complete because they were trying to come through legally. so my question to you, it's contrasting that with now. what level of support and care

and aid you think is required of our government and indirectly our taxpayer for all these people trying to come here illegally? >> certainly there's a problem and it's very clear that it constitutes directly. >> we have a constitutional duty to make sure they're in the parameters of the constitution that is extended to a noncitizen even in the legal noncitizen. however, that being said then for structure here has collapsed under the weight of humanity which is been drawn by the magnet of the florida settlement

in the very laws of the current board. in the loophole in the law that we need to fix at the congressional level. we need to sign up to management so the cour cartels can stop pry the billions of dollars from human trafficking i'm told hundreds of billions of dollars and some estimate. and we can work with the partners and the president is doing a much better job with stopping these folks. the only way they can apply for asylum at many locations in mexico and their home country in some cases. our role is to perform with love and compassion on the i on the summer two. >> thank you turning out to senator kamala harris the people

are overreacting to her plan for medicare for all. but are they? correspondent mark joined us next to break down her plan. ♪ ♪ ♪ award winning interface. award winning design. award winning engine. the volvo xc90. the most awarded luxury suv of the century. while managing your type 2 diabetes-

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>> 2020 hope for kamala harris expecting her plan for medicare for all firing back at, criticism. >> 91% of the doctors in america are in medicare. and those that are not our muesli pediatricians. and you know why they are not medicare, because medicare does not cover children. but when we have medicare for all, that will not be any longer the case. the vast majority of doctors will be in the system and you can keep your doctor under the system. >> she is same people concerned

about losing their doctors should not be worried. >> doctor marc siegel. what do you make of what the senator is proposing and you as a physician believer? can you tell the market people they will could keep the doctor customer. >> absolutely not they would not keep the doctor. let me start by criticizing what she says in the sunlight, she says 91% of physicians are working with medicare. the me tell you the actual sister six, up to 30% of primary care doctors are not taking new medicare patients. it's a deliberate misstatement. that is the key. what i see a new medicare patient coming in the door. 30% no. in the 70% are limiting panels. because it pays doctors less. in medicare for all would pay doctors up to 40% less. hospitals are plain, the merkin hospital association is so afraid for medicare for all because they make money on private insurance. that money goes to research. it goes to patient care, medical

education, if they change the whole system to government run system not only would it destroy the employer-based healthcare system like michigan, wisconsin, minnesota -- it works for a lot of people. it's a tax deduction for the employer. she is completely discontinuous here. >> i am glad part about the pay is coming up. i don't think people understand, doctors in america, especially once the doctor primarily with medicare patients, they make more money the doctors in the whole world. if they go to some etiquette for all, be a system for all or any program they will have to take a pay cut. it was a real takeover, how do they afford the student loan that they took on to get the expensive degrees. how do you transition were all

doctors make a va top salary. our doctors ever going to be on board the deadened voter wise? >> doctors will never be on board. you brought up a great point. we saw in california pain doctor education back or paying for more residency. they might have to get more than the $30 trillion to transition over ten years. that's right 30 trillion on top of that they might have to subsidize physicians. then they will have to deal with the canada like system and norma's wait to see a specialist in enormous weight to get your mri or ct scan or elective surgery. i must say in canada and australia they take care of emergencies like heart attacks and strokes at emergency surgery but anything so i acute or elective, it's a ridiculous waiting time, tremendous pressure. we passed, whether you like it or not the healthcare vote which is obamacare and they were supposed to be there several

stages to fix the deficiency which was to have more states be involved in the exchange and a lot of states opted out and republicans went for a path of let's get rid of the whole plan in place. there are issues being addressed maybe badly but also issues that were not solved in a way that they could've been. >> i agree with part of what you said. let's keep in mind the employer-based healthcare system which they want to destroy is over 70% of the healthcare system and obamacare which is an enormous debate we all had was 10%. the individual market is 10% so now they are jumping from fixing the 10% to destroy the 70%. it makes no sense. obamacare also changed the employer-based healthcare system in a negative way with higher deductibles, lacks access to providers. the medical system has been very the weight of obamacare.

let's make it much worse, makes no sense at all. >> what about kamala harris standing up and giving this information to the merkin people that they are going to use when they make a decision if they're going to vote for or not. but healthcare is a personal and so important to 70 people. and for her to be giving incorrect statistics is preposterous. >> is disturbing for her to pull that out of you get to keep her doctor. doctors will quit. and to keep her doctor, doctors will stick with whatever private entrance is left. they will change doctors all the time. let's face it, she is claiming to the entitlement classes on both close. she is not playing to the working class. this approach will not win her the presidency. people in working-class states are going to say right away, i get my healthcare for my employer, that is part of what i like about this job. i am providing for my family, you will take that way and give a watered-down entitlement and

medicaid than medicare that is not working in canada. i don't think so. >> i want to go back to went of the points that you alluded to. i am worried about the specialization in the quality of care that we get. i'm guessing a person like yourself concludin including cog education probably sent 15 or 20 years, maybe more, i don't know your specialty but people like pediatric neurosurgeon is just an unbelievable amount of years. they would have no incentive when it you agree, if they say come out spent 25 years getting an education and make $50000. who would want to go through that unless your mother theresa. >> can you imagine saying to an pediatric neurosurgeon you're going to get a lot less for operating on my child's brain. i want to add to your pit enter

point what about innovation, we are coming up with solutions that are more expensive and work in a precise way for 1% and don't work for another person. the government-based healthcare system will not pay for that. medicare and medicaid already will not pay for that. i am worried we will not be able to create new drugs and new innovative solution under the system. >> we will have to leave it there. great to see you. meantime video does not worry you, what about sounding exactly like the person it is supposed to b -and...that's your basic three-point turn. -[ scoffs ] if you say so. ♪ -i'm sorry? -what teach here isn't telling you is that snapshot rewards safe drivers with discounts on car insurance. -what? ♪ -or maybe he didn't know. ♪ [ chuckles ] i'm done with this class. -you're not even enrolled in this class. -i know. i'm supposed to be in ceramics. do you know -- -room 303.

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zuckerberg seemingly harmless but now a real cause for concern. >> a group of skimmers are using artificial intelligence to impersonate the voice of the ceo and symantec said they discovered at least three successful audio scam on private companies were a fake ceo called in the cfo asking for urgent money transfer. they said costing millions. this could be huge. what can be done to stop this. >> talking about the problem of real candidate st. paul fax, this is going to be one of the greater challenges of the next ten to 20 years. there is software and programs that could detect the artificial signature of these fakes. they leave a trace, they don't look like actual video or sound like audio footage. it will be this stand for cybersecurity. in the ability to pick something in the ability to discern whether or not, it will be a

call for people to be careful of what they see in here and check it. do not believe it because you see it. a used to be that was of the new can rely on, not anymore. >> the government cannot step in and regulate this. the business has to step forward to figure out how to handle this. they have not figured out how to handle their own platform let alone the external fraud going on in terms of these fake accounts. they are going to have to make an investment and collaborate with other firms to build a strong force to fight the deep fake accounts. i look at it from zach's a briggs perspective inputting data out there. the fact the a.i. can duplicate it so scary. technology has a dark side and people that are running companies and important, people power people in this country will step away and they don't need to put the data out there.

>> i disagree, technology has a dark side. but behind it is like saying dutchman people have a dark side. people will do bad things. companies like wells fargo to adt were created because people have a dark side. they want to do bad things. my daughter is in cybersecurity in this area is growing by leaps and bounds. it is the next frontier. but the opportunity for people out there to combat what is human nature. >> shareholder commentary annual meeting. [laughter] >> get opportunity from people's mishaps. >> i am a little concerned there will be a consumer product solution.

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>> you know you not doing standup drives people crazy. >> i will do it again. everything just had to be right. >> get up and start working out. >> tmz is reporting netflix and murphy are discussing a $70 million deal. netflix is reporting its first drop in u.s. users in its quarterly report. >> it's all about original content and that's what they need to focus on and deliver to

the user. there is a lot more competition. and netflix isn't the only guy in the game. people are wising up to the fact that they don't want to pay for every single service. because it's more than paying for cable. they are looking at the copps and what they are getting for it. murphy could do the trick and it may not be enough. >> we are talking aboutman hole covers being called maintenance holes. could eddie murphy help netflix build a broader subscription base? i don't think that will be easy for the le general darive eddie murphy. when you look back at his old tapes, he's not exactly politically correct. >> and he's not a millennial

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