elizabeth mcdonald and rich and mike. so steve, complexity is part of the problem here. corrupt folks are so of hiding in the complexity of this scandal. >> they are and the tax code the way it is, no one understands it including the irs the hotline to give you the wrong answer and hold you responsible. it brings out the worst in all of us especially at tax time. this is not a deduction. it corrupts us civilly and corrupts the government and gives the irs discretion. if they want to go after you, they can. it makes life simpler and the irs will be about 10% the size it is today. >> look at what the president's own aide said about what's happening now. part of being president is there is so much beneath you that you can't know because the government is so vast. complexity is a great excuse for avoiding responsibility for this. >> let me deal with the flat tax issue first. i love that retrospective on steve. that was cool. i would be all for a flat tax with modifications for the lower ends of the economic stream. steve recommended it by the way. i don't believe for one sec

let's go in focus with rich carlton, rick unger, elizabeth mcdonald.you're fired up about this. >> i am. what we'reta

let's go in focus with rich carlton, rick unger, elizabeth mcdonald. you're fired up about this. >> i am. what we're talking about is a politicized bailout. what's happening here is, you know, china gets the jobs but we're stuck with the taxpayers paid for vanity projects like the chevy volt and no jobs here. i'm all for gm building in china, i don't have a problem with that. this is a political bailout. they were not allowed to restructure and get toyota or a korean company to buy gm in a bankruptcy and make it even healthier to avoid having do a bailout. they still owe us, by the way, $20 billion. >> we're the reluctant holders of gm stock, which is not at its original price. rich, the disproportionality is what bothers a lot of people. they're spending $11 billion in china b 2016. here's what a guy said in the "wall street journal." gm has only invested $8.5 billion here and the number of workers it implies here in north america has fallen by 76,000. the bailout was for american jobs, not chinese jobs. >> i share your outrage about the bailout, but

joining me is elizabeth mcdonald.tor jim and i want to start with you. everyone has a bloomberg terminal. 315,000 clients worldwide. you use the terminal. how much does this bother you that these reporters were snooping like that? >> this issue is not going to go away quickly. you have your technology, install base, your content and your reputation. and right now, the reputation is at stake and what i would recommend, you can't just apologize. you can't just deny. i would say they ought to establish a panel with independent representation to go in, analyze what happened and what they're going to do to make sure it doesn't happen again. i think that would give the customer base some confidence. you can't just deny and apologize. >> we're talking log-in information, messaging, bloomberg users are always messaging a lot of this. a lot is about trade deals. >> that's the fear. >> right. >> the issue for bloomberg, did they put their news gathering edge over the confidentiality of their clients of the -- of the client info

elizabeth in florida. >> caller: hi, cramer. i'm concerned about my position in mcdonald's. stock price is heading downward towards a 200 a day moving average. global sales have dropped. franchisees are disgruntled due to corporate dollar coupons and pressure is mounting from its competitorsment cramer is it d-day for mickey d's? >> i was at mcdonald's the other day. it looks like it does always, i was talking to the manager, i said, what do you think in '97? she goes, wait, wait, so we're waiting. i think it's still to early to buy. let's go to sam in california. >> caller: boo-yah, jim, how is it going? >> not bad, how about you? >> caller: not too bad. what is your take on quintiles? >> i like quintiles. i got to tell you, i said, buy the stock. it's a good one. jane in south carolina. >> caller: yes. >> how are you? >> caller: i'm fine, thank you. how are you? >> real good, thank you. >> caller: good, thank you for all you do. >> ah, are you quite welcome. go ahead. >> caller: mandover. >> mandover i should have gone back to it is on fire. ira elly like the stock. hey, l