money, your life, your future. now becky quick with. the u.s. corporate tax rate is among the world's highest. in a move to lower the tax bills more firms are making merger deals with foreign companies and moving headquarters away from the kriets with a country with a lower tax base. it is called the corps inversion. it is greed or good business? that's our cover story. wisconsin based johnson controls and tyco international announced a plan to merge with a company headquarters in ireland. they say it is not only for tax reasons the move is expected to save $150 million a year. they are part of a trend of businesses moving overseas and lowering their tax bill, in part because the u.s. corporate income tax is 39%, among the highest in the world. although with the deductions and loopholes few companies actually pay the full rate. using a technique called inversion they can reincorporate in another country and pay the

there. the largest deal announced last year to combined u.s. based pharmaceutical company fooizer with allergan and moving to the is still pending and they are not alone. it includes medtronices which moved to ireland. even miami-based fast food giant burger king merged with tim hortons. when american companies shift their legal headquarters abroad for a lower tax bill who wins and who loses? walt wither isaacson is the ceo can of the aspen institute. thank you for being with us today. >> great to be with you, becky. >> is this good business or greed? >> i think we have to balance the question of whether a corporation is supposed to be

return to the shareholder or whether the corporation has other stakeholders, suppose to do things for its long-term advantage but also for people and communities where they live. we have always had that debate. it has to be a balance. the problem is with a 39% corporate tax rate, and $150 million to be made each year, if you do an inversion like the one you talked about, then the balance tips and people move jobs overseas. so we have to take away the perverse incentives, especially in the tax code, that allow these things to happen. >> i agree completely. if you look at how these thins work it is almost a law of physics. capital will go where it is best treated and maybe sticking aroundf the rate is marginally lower in other places but you are talking 39% tax base to 12 1/2% tax base when you talk about ireland. how did we get this far out of wack? >> what is wacky is we have a 39% corporate tax base but

lower rate than any other industrialized country. >> some corporations. >> per gdp. well, on average. we have a complicated tax code with all sorts of loopholes and deductions and i think across the board you have support for simplifying the tax code, which would allow you to bring the rate down to 25%, which i think would solve a lot of problems. >> it sets up an uneven playing field. i think big companies have ways to find -- >> another point, whether it is donald trump on the republican side or bernie sanders on the democrat side, they are fighting against corporations, corporations are messing you up, moving jobs overseas. there's a sense the game is rigged in favor of big corporations with lobbyists. not only do you get a bad economic system with this complex code you pervert the

people on both extremes of the political spectrum attacking corporations. >> you said it yourself. this is a situation where there's definitely bipartisan support. democrats and republicans agree it is a stupid tax policy. how come nothing has changed? >> across the spectrum, you can see certain thins that could be easily done to simplify the tax code. why it is not happening? partly because the people who are worried about capitalism are right, a lot of big lobbyists want to keep this particular deduction to make the tax code more complicated. and secondly we have a political process that just doesn't work with well these days. so i would hope the next big push would be a great bipartisan, non-partisan push to simplify the corporate tax code, bring the rates down somewhat. >> it what been 30 years since we really saw an overhaul to

can finally get both sides together? and bye and by the way, can corporate taxes be restructured without personal taxes too. >> yeah, i think you could do a simplification of the tax rate. you know, also not give the perverse incentives of acquired debt rather than equity financing. all these things built in to the system and maybe one way to push the politics toward fixing it is make companies be transparent about their tax returns. so people can look at the tax returns of corporations and say, whoa, i didn't know they were allowed to do that. >> that's a great idea. if you had to break it down to the most basic level and explain to people why they should care about this, what would that be? >> you want to have america be in the 21st century the most competitive, creative, innovative country in the world

that really requires the ability to raise capital, funnel it in to the places that are most prubltive, productive and not have companies wanting to move out of the united states. it's good for jobs. it's good for america if you simplify the corporate tax code and make it so corporations understand that they have a responsibility that's just a little larger than the short-term thinking they are doing. they have to invest in long-term research, development, creation of value so american corporations create value better than corporations anywhere else. >> walterer, it is always a pleasure. thank you for joining us today. >> thank you for having me. >> now, here's a look at what's making news as we head to a new week "on the money." not a lot of growth for the u.s. economy in the last quarter of 2015. the gross domestic product which which is the broadest measure of the size and scope of the

percent. slightly below estimates. consumer spending was up by 2.2%. a expected the janet yellen-led federal reserve left interest rates unchanged this week. they are monitoring the market turmoil but gave no indication it is changing the stance on raising rates throughout the year. in the fed next meets in march. that did no favors for the market with the dow tumbling 224 points on wednesday after the statements. stocks continued the volatility and climbed in lock step with the with the price of oil. they recovered later in the week. in the thick of earnings season, some big-name companies are doing well. facebook had a blowout quarter, apple beat estimates but warned about slow down in china. microsoft ahead of expectations but amazon far short. its stock took a beating u. up next "on the money," going, going gone. seat upgrades are up for auction but is it helping or hurting

the kids who wanted more school. how they demanded lessons in money and how they got it. as we head to a break, look at how the stock market ended the week. it took dozens of prototypes. hundreds of crash simulations. thousands of hours of painstaking craftsmanship. and an infinite reserve of patience... ...to create a vehicle that looks, drives and thinks like nothing else on the road. the all-new glc. the suv the world has been waiting for. starting at $38,950. you show up. you stay up. you listen. you laugh. you worry. you do whatever it takes to take care of your family.

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if you plan to fly this year, listen up. the empty first class seat you have been eyeing is now going to the highest bidder. there's a new way airlines around the world are selling upgrades to customers. ken harris is the ceo of plusgrade the company behind the auction bidding technology that 45 airlines around the world are currently using. thank you for coming in. >> thank you for having me. >> how does it work. >> you book a flight and receive an ini have tarks when you finish booking or an e-mail will hit your inbox and invite you to make an offer to say how much

have an empty business class seat. >> you have a hard sell with me. i travel a lot and used to think the seats were going to frequent flyers who would get the seats for free because they are good customers. how come i have to pay now. >> i you don't. this is often when there are empty business class seats. >> but so many flights where every first or business class seat is fillsed filled bay frequent flyer already. >> it depends on the airlines and the strategy. some airlines have a strategy they want to marry revenue upgrade and frequent flyer benefits and others may have strategies where they do it after frequent flyer benefits. it is up to the airline. but with all of the airlines around the world, but all of them have their frequent flyers in mind. >> it makes sense from a business perspective but as a customer it is one more way they

from bringing my bags on if i want to board early as a consumer, a flyer you feel there is a price for everything these days. >> i can see that perspective. it is knight nice when it enhances your experience if there is an expense. >> i totally understand why you came up with this. i see there's a way this could backfire. what have you heard from partners using it? >> we have 45 partners. all of them are thrilled, not just with revenue, but the good will they are generating with passengers. what better thing could happen than upgraded? when you have thousands of people who with are flying up front rather than in the back saying thank you airline x and y, they are marrying, generating healthy profit and happy passengers. >> what would it cost? i know at auction it will be different every time. roughly, what would i pay to get an upgrade on a cross country flight. >> between 200 and $500.

>> yeah. each direction. transatlantic sometimes between 400 to $1,000 depending on the carrier. less than buying business class outright but a healthy amount of money. >> have you seen the commercial where the guy is eating chips and he is trying to act as obnoxious as possible and not let anyone sit next to him. du it work. >> on some airlines where there is not assigned seating. both products are based on the concept if you are in economy you would rather sit in business class or if you are in economy you would rather sit with no one next to you. there is universal demand. coming up, we are "on the money," reading, writing and more than arithmetic. the students who realized they were missing something crucial in their education. it's been ten years since "everyone loves raymond" left

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born with a hunger to fly and a passion to build something better. and what an amazing time it's been, decade after decade of innovation, inspiration and wonder. so, we say thank you america for a century of trust, for the privilege of flying higher and higher, together. whether it is how to pay for college or live on a budget, teenagers need to live on money. a new report finds high schools are failing when it comes to teaching important lessons. the council for economic education says two-thirds of states have no requirements for financial education classes. senior personal finance correspondent sharon epperson found one school district where students pushed for changes. >> reporter: they are only

school students, like these seniors a east greenwich high school in rhode island often have to make tough financial decisions. >> i don't think a credit card would be in my near future. >> i do lay out how much money i need during the week to pay for gas or if i want to go out with my friends. >> the price of college today is insanely high. >> reporter: how to manage your i money is a lesson many u.s. schools are failing to teach. until 2014, rhode island had no basic standards for teaching financial education, an issue that was a big concern patricia page who spent years in the private sector before becoming a business teacher. >> we were graduating a whole generation of students that were going to be compelled to make substantive decisions before they left high school and were ill equipped to do so. >> reporter: some of her students took action, successfully petitioning the state board of education to

>> it's made me more prepareed paired. >> when you learn from parents it is like the same as put money in your piggy bank. when you learn in a classroom it is a broader scope of seeing what will happen as i grow up. >> reporter: studies show that graduates that take a financial management course get higher credit scores as adults. many statest no dot require them to take a financial course to graduate. according to the nonprofit council for economic education, 20 states require students to take an economics course before graduation. that number drops to 17 for personal finance classes, but the impact on those who take these classes is clear. >> it's important to know about the federal reserve because they sort of regulate the economy. >> it's definitely distributed to the successfulness of my small little business. >> helping students make smarter

are in high school and for the rest of their lives. for "on the money," i'm sharon epperson in east greenwich, rhode island. just like in rhode island, the council for economic education says students that need to lead the charge pushing for more educational requirements. up next a look at the news for the week ahead. this funny man talks food, beer and the business of television. >> do you think you could get "everyone loves raymond" on television today?eek design... is mold-breaking. its intelligent drive systems... paradigm-shifting. its technology-filled cabin...jaw-dropping. its performance...breathtaking. its self-parking...and self-braking...show-stopping. the all-new glc. mercedes-benz resets the bar for the luxury suv. starting at $38,950.

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for more on our show and guests go to our website and follow us on twitter @"on the money." here's the stories coming up that may impact your money this week.

from exxon, pfizer, merck. and sales figures for last month. here's hoping spring comes early this year. tuesday is groundhog day. on wednesday, an idea of how the services sector is doing when the institute fo releases the non-manufacturing index for january. on friday the big number of the week with. the employment report will show how many jobs the economy created in january. there's no business like show business. it is a business that's constantly changing, especially when it comes to what is on your television. phil rosenthal is the creator of "everyone loves raymond." now he is in front of the camera with his travel and lifestyle show. i will have what phil's having. it is currently available on netflix. i spoke to him about his transition behind the screen to front and center. >> i studied theater in school. it you always a -- when you are a kid you don't know there is writing, producing and directing. i'd watch tv and see the actors

that's what i did. the transition to writing came when friends of mine wrote a show for ourselves to be in and i realized now i can eat something more than tuna fish for dinner every night. writing is a hair above acting in the world in terms of getting a job. so i went to hollywood. i started writing. then i was lucky enough to create that show. that took me nine years, but during that show, i found this love of travel and food and i took ray romano himself and we did an episode in italy. he was not happy to travel. he didn't want to travel. he never traveled before. i saw what happened to ray, the character happen to ray the person. >> he did it for the show. i remember when you did it for "everyone loves raymond." >> exactly right. that was the seed i saw in him. i said if i can do this for this

in "i'll have what phil's having" you go to other countries and find the best of taste and flavors that a lot of us haven't tried yet. >> the food and hopefully the humor is may way of connecting with people. i tell people i'm like anthony bourdain if he was afraid of everything. i feel like i'm like you on the couch, watching him, saying he's a super hero. i'm not doing what he is doing. i can't do that, but i think if if they look at a guy like me and say if that guy can go outside, maybe i can too. two thirds of americans don't have a passport. i'm trying to say, come on. the world would be better if we all experience a little bit of someone else's experience. >> let's talk about the changing nature of television. >> yeah. >> it has changed a lot since the time you have been in it. >> yes. >> what surprised you the most? what do you find the most disturbing? >> one of the crazy things to me is no matter where you pitch

>> the demos watching. >> the numbers on paper tell you way. >> right. >> and your loyal audience, and the people with the disposable income -- look, i'm talking about money, they are the ones loyal to tv. i read an article bill carter wrote about the median age of people who watch jimmy fallon. you think it is kids watching. the median age of that show is 55 years old. yes. >> that's who's watching thfgs. >> especially 11:30 home at night. the kids are out or on their phones or computers or what not. why not having something for people our age, when i say our age i don't mean your age. >> do you think you could get "everyone loves raymond" on television today with those types? >> no. it is huge. >> even then it was seens a mild. what is it?

family and his parents live across the street. nobody is jumping up and down, oh, my god, what a hot, sexy idea we have to have the show. nobody was thinking that. we barely got on the air then. we'd never get on the air now. with my new show, i'm trying to connect with people in what i think is an old-fashioned way without being old and stojy. we're going to places that are current now, eating exciting things. look i ate an ant. i'm trying to connect with everyone. you know what is really sweet, i'm hearing from people that are watching with their kids. there's an idea. that's how it used to be. >> the entire family in front of the television and watch. >> yes, and grandma doesn't have things. >> i didn't tell you how pleased i am to have you here and how too. >> thank you. >> that's the show for today. ibm

if your resolution was to find a new job we will have tips on how to get hired. we're "on the money," i will see

(donkey sound) (elephant sound) there's a big difference between making noise, (tapping sound) and making sense. (elephant sound) (donkey sound) when it comes to social security, we need more than lip service. our next president needs a real plan to keep social security strong. (elephant noise) hey candidates. enough talk.

starting right now on a special edition of "this week" with george stephanopoulos. it's on. with just one day to iowa, the gop contenders are in a fight to the finish. front-runner donald trump making his fiercest attacks yet. >> ted cruz is an anchor baby in canada. >> and as they chase trump, ted cruz and marco rubio trade fire. >> a vote for marco rubio is a vote for amnesty. >> he's decided to run a very deceitful campaign. >> with the clock ticking down, we're one on one with donald trump. plus, 11th hour surprise. hillary clinton hit with the top-secret e-mail revelation.