and that it. have a wonderful veteran's day weekend. we'll know with cheryl casone and cashin in. >> taxes on everyone. michael bloomburg created a fire storm. this is how to get the economy again. >> allow the bush tax cuts to expire in the end of 20 thereto 12. not just high income workers as the president proposed but all tax brackets. >> is he right. will they create tax hikes or cripple the economy more. welcome to cashin n we have wage rogers and johnathon hunt and tracey burns . and also senior vice-president

jim lacamp and founder of movement sally combs and jim, start with you. you say eliminating the bush tax cuts hurt all and hurting the economy. this debate has gone on so long why do you say that? >> anybody who thinks that this is a good idea hasn't studied economic history and doesn't care about jobs and middle income americans. if you undo the bush tax code raise taxes on lower income americans and raise taxes on middle merrence. discourage job creation and at the same time we have expiring tax crets for depreciation and take that business creation model and capitol investment

and eliminate that, too. this is the worst idea i have seen out of politicians. >> let me take it to johnathon. you are a numbers guy. this is happening back in 2001 with the bush tax cut. three dollar rebate for individuals and couples ever will you. and reduction in personal income tax rates. and a lot of these are applauded as good middle class tax breaks and now when you say bush tax cuts, you get a onslaught of criticism. where did we change in 10 years? >> it is the velocity that change. taxes are force. it is government's force and redistributing your own money to the political class and invest entitlements. how can less freedom create

wealth. whether it is a 50 percent or 20 percent tax hike. what needs to change is that notion that government spending creates wealth and it is the size and scope of government that needs to change. something else that mayor bloomburg said. this would eliminate class warfare. this is michael bloomburg who is suspected and said something that surprised many. >> somebody who made his wealth and earned his wealth and understands how society and how government and structures of our common community helped him to create that wealth and understands the responsibility to give back. everody who thinks that keeping tax breaks is a good idea have amnesia. they benefit the wealthy who incidentally haven't created job. if this is the way to create

jobs why don't we have them? >> cheryl. i read that line three times, the notion that taking the bush tax cuts away will take away the tax warfare it is honestly creating more tax warfare. the people who sit at bloomburg terminals are the people he's hurting and the customers and people who pays his bills with. he's creating more of a mess and he's not going to create jobs by taking away the bush tax cuts. >> wayne rogers bloomburg said it is not a great plan, but it is the best plan we have right now to deal with 15 trillion in budget issues that we have in the country. >> when you are talking about the bush tax cuts, you know, favorg the wealthy, they can not. top one percent of the people

paid only 19 percent of the total tax. by 2004, after the bush tax cuts, the top one percent paid 36 percent of all of the taxes. so your facts are wrong. read the facts. you happen to be wrong about that. and top 10 percent who paid in 2004 paid as much as 68 percent and it did not favor the rich people and by the way, it produced more revenue in those times. i am not saying they were great. bush tax cuts as a whole. but get your facts raight. >> my facts are straight. >> and go ahead. >> the facts are clear. you are talking the absolute dollar amount and thus a percentage of total tax revenue it went up because the rich got obscenely richer over the last decade or so. and the wealthy right now are paying a disporportionately

low percentage in absolute tax rate compared to average americans. tell me who is the person that makes the decision that obscene. you or the government or people. >> sir, when we have record inquality and the rich are getting richer and not creating jobs and we have taken those tax dollars out of the public sector, we are laying off teachers and firefighters and killing jobs to give them more money that is wrong. (talking all at once.) >> that is why we should be spending money for solyndra and is that your idea of creating jobs. >> and we are not getting jobs because the administration is creating uncertainty and you have 40 percent of low income people not paying a dime,

nothing. no federal tax whatsoever. there is no equality in the current tax system. to point the finger at the rich is wrong. they cover the tax bill every year. >> and not only that, they haven't studied the economic history. when we raised taxes under the first george bush. revenues went down and deficit went up. bill clint. deficit went up. and tax cuts under kennedy and reagan and clinton in the second term. revenues went up and debt went down. >> speaking of the economy and i am sorry, johnathon. that is a perfect example of the over all economy. the economy has been up and down. we are talking about a 10-year pan and letting the -- change that will change how the economy behaving and right now it is not behaving well. >> it will focus more away from wall street and toward

washington. it comes down to the notion where do you believe wealth comes from? government redistribution raise taxes on everyone. and everyone should pay more taxs and if you believe wealth is a part of the man's mind. allow those, sally allow them to keep the money, that they earned. we want people to get money. and higher taxes hurts hat process and hurts wealth creators and those employed by them. >> sally one point, by letting the tax cuts expire after 10 year in force it will affect everyone at the end of the day. i showed you couple, child tax credits and all of those are 300 or 600 credits that will go away. >> they will go back to instead. increasing the quality of public schools so that folks who got those tax benefits don't have to send their kid

toz private schools and catholic school. >> all right. guys, coming up everybody. hold on to your iphone. unions are trying to take a bite out of the apple. and what management is doing that proves big labor may be a threat to the entire job market. homeowners walking away from the mortgages guilt free. and guess who is picking up the tab? ture. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪

>> big labor causes a big concern at apple. new reports saying that the company is training managers on how to deal with unions. tracey, you say that proves that unions are taking a bite over all. >> this is the profitable company we have seen in decade

and look that takes it away from product development and sales force and anything needed to run a. this could set the stage going forward . apple clearly is stepping up to it. >> wayne, to be clear. this is not at the retail stores that are worried about a labor movement months ago but other off type facilities. should we be concerned about this? >> i don't think so. there is a reason for the union. people are not organizing just to organize just to think. i know in pasadena city launched a union sponsored course called a troublemaker school. if there a are making trouble

that is one thing. if not they shouldn't. >> sally, easy to make argument for union because was coal miners, but apple, is that the right place to be. >> that's not the only reason we have unions. they set wage standard and benefits standard and unions like corporations to be successful and profitable. but they want it to be enjoyed by the workers. we have profitability and ceo's wages rise. and what is wrong with wanting to get paid better. >> as far as the profits i am not sure with the numbers i have seen in the third quarter.

but se unions are destructive. and some companies? cheryl. they have destroyed every company they are involved and industry whether it is the autoor airlines . shake your head all you want. people can form unions but apple would be foolish to hire any union to negotiate. they have crushed every union and did trump come up with this? absolutely not. get unions out. >> and i am sorry, workers did not help apple become successful and why i don't understand. >> how? how? weren't ty working there? >> how have they. they line up to work there. sally that's the whole point. >> they pay well in the economy.

but jim, here's the question. do you think that they are a hind rinse to job creation. we are sitting at 9 percent and veterans are at 12.1 percent. >> we are 16percent unemployment and people giving up looking for jobs. look in the tech industry. you have to be careful about setting up long-term crosscourts with unions. this changes rapidly and you have to stay ahead of the curve. steve jobs talked about the process of creative decuction and coming up with one new product that outdates the other. if you have a work force that stifles that company at all. the tech industry is going to get hurt by it. and i would say. maybe lower the minimum wage. and last thing we need to

worry about is unions. >> we are going back wards. you are trying to make advances and trying to bring unions in to a company that moves forward. we don't need them. >> wayne, last word, over all. unions 30 years ago and unions today. different time? >> i think there is a difference in philosophy. the workers make a lot of money and the workers should share in that. the capitalist share. you don't share that share. it is a bargaining tool. and in a free market society everyone bargains. and if there is a grevance and people are not treated properly yes, there is a reason for a otherwise there innocent. >> coming up. everybody. under water or over the top?

new trend proving there is not a sig stigma for sloughing off responsibilities. we report and you decide.

>> plus, what

on gop candidates are debating in south carolina. newt gingrich who trailed the pack new cbs poll has him tied with romney and trailing

herman cain by three percent. in justs the take the field for a game. and fans are being falled on to wear blue in support of child abuse victims. and colan ray lost his grand daughter to an undiagnosed nur logical disorder. all that and more coming up. i hope you join us . >> they walked away and are glad they . homeowners who foreclosured are doing well and not regretting their decision. they are leaving taxpayers with the tab. johnathon accepting the new norm is bad for all of us, why? >> there used to be sistigmaassociated with

bankruptcy and defoulting on the mortgage. our president tainted those not paying is responsible but the goldman sachs and j.p. morgan are the evil fat cats it is a shame that walking away from an obligation is just. >> and wayne, there is a website you walk away.com. they claimed that they helped 7,000 people just walk away. is that fair to the rest of us? i don't think it is a question of fair or not fair. it is a question of what the market tells you. you make money by walking away, you walk away. i disagree because credit was made rampantly easy by maxin waters and bony frank who don't understand the free market system and this is a headline from the new york time in 1999 and said in effect. fannie mae raises credit to

aid mortgage lending. fannie mae and freddie mac relax made it easy and they were the beginnings of the subprime mortgage crisis and it belongs to the directly government. that's what started it. >> you know, i got recent numbers for september and october foreclosure up seven percent. the problem is getting worse for foreclosure and not better. >> or are people sitting on their hand and i am not going to pay my bill. that's the only way i can qualify. >> economic decisions have overridden moral and personal responsibility. i would take on 10 jobs to pay my mortage. we have a group of slackers. >> sally, you think it is making it easier. >> there are not jobs for people to get. they don't have jobs. if you want to talk about

slackers. >> will you quit? >> it was not fanny and freddie. it was wall street that inflated the housing market and bet against it and they were allowed to walk away. >> jim, banks are still on the hook for more next year. >> and there is a 50 percen people right now that are effectively under water. they are under water on their mortgages or if they sold their house they wouldn't have enough equity to weigh their house. banks are going to get hurt and that means new lending is getting hurt and it will penalize those trying to buy a house right now. this is something that the administration casultly encouraged and walking away from legal contracts and it is devastating to our economy. >> sally thank you for joining us. >> pleasure. and accusations and riot and who is paying for it.

now there is word that taxpayers will be dragged in the ugly mess. we'll explain coming up next . for a hot dog cart. my mother said, "well, maybe we ought to buy this hot dog cart and set it up someplace." so my parents went to bank of america. they met with the branch manager and they said, "look, we've got this little hot dog cart, and it's on a really good corner. let's see if we can buy the property." and the branch manager said, "all right, i will take a chance with the two of you." and we've been loyal to bank of america for the last 71 years.

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our daughter likes my cooking. don't you lori... lori? [announcer:] conocophillips. >> time for what i need to know for next week. tracey burns. >> as if the penn state story is not bad enough. state funds could go toward legal fees. >> taxpayers on the hook. >> i like precive life insurance company. their earnings are up and i have owned it in the past and now and added it to my position. >> jim. >> australia is easy china is ease u.s. is easing and england and that is good for gold. >> easing everywhere for gold. >> johnathon. >> cheryl i had research and realized that the consumer is strong these