american teacher thirty seven can buy thirty seven percent combined tax rate on fifty thousand bucks g.e. two point three percent and eighty one point two billion dollars something seem off to you not only that for four years during the last decade g.e. actually had a negative tax rate with our government writing them checks for billions of dollars unfortunately when corporations like gto pay their fair share in taxes and working people have to pick up the slack because ever since reagan here in america we tax working people to pay for tax cuts for the rich here's the bigger picture as corporations as corporate taxes go down. g e the burden gets shifted to working people and here you can see it in this graph right here this is payroll taxes and this is you know from the one nine hundred forty s. to the to today this purple stuff is payroll taxes and the blue line see how big it is was back here afterwards it was corporate taxes and corporate taxes if they have just the state you know they've gone from twenty twenty five percent of our revenue and per payroll taxes were a very small porti

were actually grown from g.e. seeds between forty and seventy percent of foods sold in california grocery stores contain some g.e. and gradients and the cost of regulating the labeling of genetically engineered foods between a few hundred thousand dollars and over one million dollars annually and speaking of money with as with most political issues there's another powerful force behind this whole lot of money now the yes on thirty seven campaign it raised two point four million dollars no on thirty seven has raised nine point nine million so what's the breakdown this prompt thirty seven earlier i was joined by ronald bailey science correspondent for reason magazine he also wrote the book liberation biology the scientific and moral case for the biotech revolution i asked him what he felt about the food labeling and informing people about the facts in their food take a listen. well the interesting thing about labeling in the united states is it's not about facts. states as a rule that basically we put labels on food

g.e. that got caught up in m m g they owed it to another trading firm and then ended up at g.e.so they're actually caught in both bankruptcy and oddly what we found alive ironic is that actually some of their money shielded the malfeasance but the fact that extract the m.f. global so is zero interest rate environment it appears the safest place for your money is the bankruptcy of the sad sad commentary on the financial system. but we're hearing from customers those customers are beleaguered and i'm not sure that many of them are going to have to pay him you know they have the option not to retard the futures markets will obviously they're kinder's that have to participate if you just market with the exception of the fact that we may seem many more people . are trading and direct already trading which will increase our party credit risk but the same time if all these guys are stealing your money what's gone already. but a lot of customers who are resell customers who are just investors they're going to look for other investments where they're going to go with first entry and they

for example you know half of that company is paid for by g.e. general electric and any time there's a recall or any time they have to report on stock they always mention before this story at least that by the way our parent company g.e. or our parent company comcast so you know you do see that sometimes let's take this in a little bit of a different direction foster talk to me a little bit about what you're seeing now as somebody who sort of has you know their eyes and ears into to what the new media is doing these days what what else concerns you other than than the specific example of adam davidson and planet money . you know the disconcerting thing is really when certain media outlets take preference to the most read and beloved writers or columnists over others like thomas p. freeman has been busted for taking speaking gigs numerous times and yet he wasn't fired he stake in david pogue for example the new york times has taken junkets and he was not fired whereas another writer who took a junket in the new york times travel section who had a

." >> o'brien: the credit cards aspen offers are backed by major corporations like g.e. and are used widely by dentists. according to moody's investors service, one key to aspen's business model is that it gets paid by the credit card companies in advance for the patient's entire treatment plan the moment aspen signs the patient up for the card. >> o'brien: so this is an important part of your business. the third-party financing is key. >> i would agree with that. it's absolutely key to providing the solution for these patients. there's no doubt about it. because, again, they're struggling to get through life, and so it does become an important part of the solution for them. >> oh, what a nightmare. >> o'brien: theresa ferritto, who's hearing-impaired, signed up for a credit card after going to aspen to get two teeth removed. >> mom's 87 years old, a she's in pretty good shape for her age. she's pretty sharp. and she comes rolling into aspen dental prepared to have these two teeth removed. but, much to her chagrin, she found out that they wanted to do a whole makeover of her mouth--

net twenty minutes in however owners who were to be even to all north lake shutoff equalising from g.e. after sixty five minutes to leave a one one final scoreline a seven wells and are now one point above spartak moscow at the summit. you. didn't have the greatest of debuts also on sunday his side slipping to their fifth straight defeat with a two on loss at home to f.c. in a bad temper defer the host going one built on after half an hour thanks to months a repulse were thrown a second half life and though and the ten man which was followed by. finally getting to dallas first goal of the. season but with eight minutes to go fred you may recall for sent off on the rebirth completed his brace soon afterwards too on that was followed by this missive kevin karami insult to injury. no such problems for developers cross town rival sasco though the only man easing to a three nil win over new boys more dovi on the day was door on top getting things going on the half hour mark of influence a good thing doubled his side's lead right before the break the second half an essentially routine forty

the recall affects g.e., ge adore a, ge ee terron a, ge profile and hotpoint dishwash s dishwashers. they were sold between august 2006 and august of 2009. if the recall affects your dishwasher. you're urged to immediately disconnect if from its power supply. >>> the u.s. postal service is warning it may miss its next payment to the u.s. treasury. on thursday. the post office reported it lost $57 million per day in the last quarter. the nearly bankrupt agency lost $5.2 billion in that time. most of it due to expenses for future retiree health benefits. last week the post office defaulted on a payment to the treasury for the first time in its history. just continues to struggle there, terrell. >> post office is in trouble. ashley morrison here in new york. ashley, thank you so much. appreciate it. we'll take a quick break on a friday. when we come back, failure to launch or actually a look at the latest pictures from mars and a failure to launch. mars' experimental lander doesn't get far before meeting a fiery end. this is the cbs morning news. my. gotta start the day off right. wardr

. >> my grandfather built engines for g.e.created a very nice life for my mother. >> do you still believe in that dream? >> yes. and i want it. i work really hard every day to have a little piece of it. >> in fact, middle class americans saw their median wealth decline by 28% in the decade ending in 2010. both presidential candidates are promising help. >> i will not raise taxes on middle income americans. >> republican mitt romney is proposing cuts in each of the six tax rates. middle class taxpayers would see their taxes drop by about 2%. americans earning more than $215,000 would see their taxes cut by 6% or more. >> put the middle class back in the forefront. >> president obama would leave current tax rates virtually unchanged for 98% of americans. while raising taxes on top earners by up to 6%. that's for individuals making $200,000 or more and families earning $250,000 and up. >> with the wealth, they have all kinds of ways to hide their money. the middle class, we have to scuffle to keep it all solid. >> deanna has anot

. >> my grandfather built engines for g.e. he created a very nice life for my mother. >> reporter: do you still believe in that dream? >> yeah, and i want it, and i work really hard every day to have a little piece of it. >> reporter: does it feel you have to reach farther for it now? >> yeah. >> reporter: in fact, middle- class americans saw their median wealth decline 28% in the decade ending in 2010. both presidential candidates are promising help. >> i will not raise taxes on middle-income americans. >> reporter: republican mitt romney is proposing cuts in east of six tax rates. middle class taxpayers would see their taxes drop by about 2%. americans earning more than $215,000 would see their taxes cut by 6% or more. >> let's put the middle class back in the forefront. >> reporter: president obama would leave current tax rates virtually unchanged for 98% of americans, while raising taxes on top earners by up to 6%. that's for individuals making $200,000 or more and families earning $250,000 and up. >> with the wealthy, the

the developer the owner of the program controls everything mr solomon a what's your opinion on the g.e. and you linux based national operating system funded and co financed by the government which government when government bodies are any garrido well first of all good new is the name of the operating system i started in one thousand nine hundred three. and you did linux is a kernel which one program that we use with the system that was the one piece that we hadn't developed and mr torvalds provided one so good newsflash linux is the combination it's basically could do with linux so this is a complete operating system now in fact it's normally not funded by governments but we're happy to have government help in improving it so some pieces have been funded by governments along behind and government agencies must insist on using only free software for the sake of the computing sovereignty of the state if a state agency uses a non free program that means a private entity has control over the states computing that must not be ok commenting on the death of steve jobs you are quoted to say i

and this was this was designed by general electric and yet it's operating in japan well it's actually g.e. had toci no. it's remarkable i have got a couple of graphics here i'd like to go through actually here's the number two is the fukushima this is the fukushima reactor. are we showing it on here it is here it is yes we can show it on the plasma here this is the spent fuel pool is that it . oh i see this is the this is the. heavy duty crane that moves fuel in and out and there's a there's a channel between the vessel head and the spent fuel pool so you see this is the shortest distance and originally they thought the fuel was only going to be in there matter of months before as reprocessed or hauled off to a high level radioactive restrict course none of those it turned out to be viable options now so the fuel has been primarily accumulating over decades in getting in denser and denser. storage configurations appear in this elevated storage configuration and this this is the actual reactor vessel here yes and then all or everything around it basically is concrete and cool and there is

understand and wal-mart is one i think another one of the sources interested in is general electric g.e. i mean these are easy companies to understand so why would you want to make it difficult we're so interesting in a sausage machine what you have is a sausage machine you put in sausage meat at one end and hopefully sausages come out the other similarly when you put money in one side our money and then hopefully you can convert that into more profit money or you can go to do that but what they're finding out now is they've got money and nothing comes out the other side people are very disgruntled. so i mean just a reminder yeah george soros dumps financial shares and focused on facebook how bad off financial assets right i mean look at what's going on facebook stock market right now i don't know if this is the i.p.o. went on the stock exchange it's not really doing well it's not a place that thirty eight dollars per share is now worth nineteen and just this is where i'm going shares department stores i understand buying clothes that's my forte so i think i'll stick to that or things d

understand and wal-mart is one i think another one of the sources interested in is general electric g.e. i mean these are easy companies to understand so why would you want to make a difficult we're so interesting in the sausage machine and what you have is a sausage machine you put in sausage meat at one end and hopefully sausages come out the other similarly when you put money in one side our money and then hopefully you can convert that into a more profit money or you can go to do that but what they're finding out now is they've got money and nothing comes out the other side people are very disgruntled so you can get the idea of just how bad things are in the financial market if soros is choosing facebook over financial stocks dimity with nine hundred plus million active members on facebook someone is going to be able to buy some of those shares i mean if they start selling now there's going to be a lot of losses no yeah that's true but you know for a company like facebook it's important to prove that they can generate profit given that you already have like almost a billion people o

easier to understand and wal-mart is i think another one that sources interested in is general electric g.e. i mean these are easy companies to understand so why would you want to make life difficult we're so well at investing in a lot sausage machines what you have is a sausage machine you put in sausage meat one and hopefully sausages come out the other similarly with i would you put money in our money and then hopefully you can convert that into either more profit money or you can go do to deal with that but what they're finding out now is they've got money and nothing comes out the other side people are very disgruntled. that's what i have for you well it looks like facebook there's too much pressure on facebook to deal well. with their business update and of course a recap of our stories here on our team in just a few minutes stay with us it does a few moments i'll be back with the headlines and don't go away. by.

g.e. will provide free repairs. a fine against google. the fine is to settle allegations that cool broke a privacy breach. google was going around apple's privacy settings to access contract from various apple devices. working and facebook might not be all that it is cracked up to be. jane king has the bloomberg business report. >> good morning. you never heard about the fat perks that come from working at google. if a ghoul employ it passes away, they're surviving spouse gets a check for 50% of their salary every year for the next decade. children receive $1,000 a month until they reached the age of 18. the company wants to help families to their bereavement. 25 companies were rated and facebook falls off the list of greatest places to work. for those looking for a job closer to home, there is a job fair coming up in bethesda. over 30 employers looking for employees. it is on august 25 at bethesda. we had a mixed close as for stocks. the s&p did manage to eninch higher for a fourth session. at the new york stock exchange, i'm jane king,

forty and seventy percent of food products sold in california grocery stores also can contain some of g.e. ingredients and the cost of regulating the labeling of genetically engineered foods between a few hundred thousand and more than a million dollars every year and speaking of money as with most political issues there's another powerful force behind prop thirty seven a whole lot of money yes on thirty seven has raised two point four million dollars no on thirty seven has raised nine point nine million dollars so what's this proposition all about and why should it matter to those in and out of california i'm joined now by ronald bailey science correspondent for reason magazine who also wrote the book liberation biology the scientific and moral case for the biotech revolution hey there ronald i know that you have written that prop thirty seven is an anti science campaign that flies in the face of an overwhelming scientific consensus that genetically modified foods are safe and healthy. first question i mean what's anti science about having consumers know the facts of their food. well the

america down to twenty five percent and rather than closing loopholes that allow corporations like g.eto pay nothing in taxes republicans are getting rid of deductions that give average working families some tax relief according to an analysis by citizens for tax justice the republicans plan would massively shift the tox the tax burden down the income scale hitting the low and middle income americans the hardest so if there was ever any doubt that the republican party is officially the party of by and for the billionaires and there isn't any more recently tom gave his take on what the top income tax rate should be in america and for any billionaires watching at home you're not going to like it here it is tonight's daily take. i believe it's time that we reconsider the role billionaires play in our economy and in our society in fact i say it's time we outlaw billionaires by placing a one hundred percent tax on any wealth over nine hundred ninety nine million nine hundred ninety nine thousand nine hundred ninety nine dollars trust me we'll all be much better off in a world free of billio

understand and wal-mart is one i think another one that source is interested in is general electric g.e. i mean these are not easy companies to understand so why would you want to make life difficult here so my interest in you know they are like sausage machine what you have is a sausage machine you put in sausage meat at one end and hopefully sausages come out we are similarly with that you put money in one site our money and then hopefully you can convert that into item or profit money or you can go to do that but what they're finding out now is they put money and nothing comes out the other side people are very disgruntled. well with decision if you ask me that george soros is actually moving back into facebook rather than financial shares bizarre actions indeed we know more than i do to me many thanks indeed we'll see you next hour just one of the headlines here but if you do stay with us we'll be back with the kaiser report. wealthy british style. is not on the tightest. market why not come to. find out what's really happening to the global economy with max cons or for a no holds b

i believe g.e. heavily supported the president in 2008. when jeff immelt, the head of g.e.h the president, he's kind of lean, sort of very -- nothing really concrete. when you get that from people that work with you every day, it paints a scary picture. i think there is a broader issue here. i think this is like a president who does not like to do the nitty-gritty of what needs to be done. >> steve: he likes being president, like the jet, stuff like that. doesn't like the day-to-day stuff. jeff immelt, i read in your piece, is going to vote for mitt romney. does he feel like he's been used by the president? the jobs council hasn't met in eight, nine months? >> i think he would say he did work with the president, been part of this jobs -- now it's called the council on competitiveness, it was called something else. it was good fort g.e. shareholder. they got a lot of perks out of this administration. being kind of at least nominally in an advisor to the president, those have its perks. i think he would say that. i think the negative part is jeff immelt. because he know has l

of g.e. and jamie dimon there c.e.o. of j.p. morgan so they're kind of taken i think the good thing is you got to get these mothers on the board of the mothering instincts and this is really about women oh wait you don't really play that's why i don't know it's about being a good mother to the company what i have been a mother and instead of a mother now i think that women in general work harder are more sensible they take less for themselves they're easier they're more. that's ridiculous not only generalization but women are you know there is purely anecdotal but i do think women are more like in the trenches toughing it out sink or swim speaking of swim let's move on to two thousand and twelve summer olympics are underway a lot of swimmers from the u.s. have done pretty well all athletes are eyeing a medal here is us jen ishaan johnson's take on her quest to get the gold back in two thousand and. and so very very very kind to have gotten into my mind that goal just wasn't in my reach anymore yeah well u.s. athletes in particul

. >> now, bill, one of the chief reasons you can hear this, the house band has stopped warming up, g.esmith, from the old "saturday night live," house band and two other members of the band called the g.e. smith no button band, they are nonpartisan as they rock this place out. they were doing motown and other things. the band members played for roger waters on the tour of the "wall," and i said how do you go from roger water to the rnc and he said, without words. it is a gig. it's a big. >> thank you, james, from the arena. >> on the floor of the convention, we look ahead to see what else we can expect. bret baier is the anchor, of course, and he joins us. >> we can count on james for interesting band knowledge. that is good stuff. >> obviously they had to consolidate the convention to get everything in. what do you hear, and what do you expect, and how does this change the dynamic? >>bret: it changes the tone. it is shortened. but logistics, it is impossible to extend it into friday. we have a shortened convention and a different tone. if you have as predicted, a hurricane strength hi

you've done very iconic products and worked with some of the biggest companies from samsung to g.e.,igning things, different light bulbs to actual different lights and chairs, furniture, watches you're wearing something you designed on your wrist you name it. what was something -- when you look back, what are you most proud of in term of those efforts? >> the $100 laptop was a very significant moment, just in my -- in my career, and i think in the technology world in general and beyond that in the life of children, about 3 million children that have the laptop now. it started as the most controversial project of the naughts. nobody believed in it. nobody believed that you could take a lop top a computer and anybody wanted something smaller, lighter and with a battery that lasted a long time, nobody believed that that was a solution. you know, we heard from all the big players in the industry, includion steve jobs, who essentially said no, people want a full d.v.d., a hard drive they want a full graphics card without really thinking that this was actually designed for education, for c

but, first, have g.e.'s chairman seen a light or did a bolt just go off? charles gasparino does not care, all he knows is that the president should understand this. ♪ forz(power!) andiamo! andiamo! (let's go! let's go!) avanti! avanti! (keep going! keep going!) hahaha...hahahaha! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? happier than christopher columbus with speedboats. that's happy! get happy. get geico. fifteen minutes could save you fifteen percent or more. ♪ home of the brave. ♪ it's where fear goes unwelcomed... ♪ and certain men... find a way to rise above. this is the land of giants. ♪ guts. glory. ram. >>neil: news that there could be president obama's former counselor, jeff immelt. >>guest: this is what i know, he is selling friends in corporate america who told me, and they are major players, in the financial world, and he is very upset about the president and his work on the job council meaning there is not much work. >>neil: what does it do? >>guest: supposed it meet

companies like g.e. paid no tax a career or two ago. that is because of all their operations they have around the world. if you are a small business, dry cleaners or a taxi business, the regulations and taxes are crushing to small business. the president wants to raise the taxes on small business from 23 percent to 40 percent. that's the income tax, and by the time you pay the state tax which is under 6 percent, you pay sales tax, gasoline tax, real estate tax, well, you find out the government is taking well more than half of what you make! people decide, well, i am not begin my business. that is why we are at a 30-year low for new business start-ups in this country. i want to make sure we help entrepreneurs and innovators. i want did speak to women of america who have dreams and begin businesses in their homes. they should be successful. our campaign is about making it easier for entrepreneurs, women and men, to start businesses, to grow businesses. we will champion small business because we know that's where our jobs come from. we kn

people considered this one a financial because of its big g.e. kmal division, citigroup and jpmorgan. on top of that, i also fook into the total of 3m and added in alcoa, all pretty dire assumptions to say the least. and even under these incredibly ghastly conditions, i still couldn't see a low that took us down significantly from where prices already were. from the moment i made that call, there were people telling me i was crazy and i had no idea what i was talking about. a month later, it was the dow 1,500 points higher. these people, what were they doing? they were still there. still accepteding me e-mails that were impassioned and claiming that it was still too soon to tell. telling me i had lost my rigor, i was no longer with a hedge fund and i didn't know what i was doing. if you find yourself making that kind of argument, you know what you're doing. you're digging in your heels when you should be changing your mind. this is something that's hard for the most emotional investors and traders to come to terms with. believe me. i know. but it

. >> g.e.and. >> they needed more soul on "my girl" but at least they were able to get through motown. >> roland martin on the record supporting the republican band. >> i think we can all support that. >>> ahead on "starting point," tropical storm isaac continues. mississippi is not yet in the clear right now. there is some major flooding and strong winds. and now get this. tornado warnings. we'll take you live to gulfport, mississippi, next. you're watching "starting point." (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. the lines, the cost, the hassle. ♪ express yourself [ female announcer ] why not try coffee-mate? with over 25elicious flavors for a fraction of the cost of the coffee house. add your flavor, with coffee-mate, from nestle. exclusive to the military, and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank. with ou

what about people that receive their g.e. d.? i don't know. they are giving out more promises than explaining how they are going to follow out with these promises, if that makes sense. host: and that was dean right here in tampa, florida. we have been showing you various scenes from around the area. you are seeing now the edge of downtown tampa. that's one of the main campuses due north of the city. that has been closed. as you can see, it runs along the edge where the convention is being held where the hotel where mitt romney and paul ryan are both staying, which is the marriott. there's the highway. those are official cars that are allowed to run on that highway now because it runs on a convention center. prior to that, we were showing you scenes from the convention center itself from inside. those are live pictures. those -- that is where 15,000 credentialed media are staying. what you are seeing there are a lot of radio rooms. a lot of radio talk show hosts set up shop in the convention center. an easy place to get guests and do their show

this is g.e. smith, formerly the "saturday night live" band.nother guest, former new york city mayor rudy giuliani, erin. >> i'm here with the mayor. you had a little bit of the runaround getting over hee, huh? >> finding my way to the new york delegation took a while but i've been sitting there the last couple of nights so i'm very comfortable. >> we are at the new york delegation. i had a chance to look through the excerpts of mitt romney's speech. five pages of them. i didn't see anything in there about -- much about personal life. maybe it's -- he's keeping that part to himself -- >> about? >> about personal life or -- >> well, i don't know, that's really probably something you can ad lib more than you'll have in the prepared remarks. most important -- >> you think he's going to ad-lib? >> well, or maybe it isn't in the remark he's giving out to all of you. >> right. >> but actually i'm not so concerned about that. what i'm concerned about is, is he going to lay out a policy direction that says to the american people there's a way out of th

was a design and test engineer for g.e. and an engineer at the former federal power commission and the serve as the chief engineer at the securities and exchange commission. thank you so much for your time this morning. guest: thank you for having me. host: up next, the privatization of nasa's efforts. alexander saltman join us. first a news update from c-span radio. >> president obama heads to connecticut and will speak at the stamford marriott hotel and then go to harvey weinstein's home fundraiser. in be a co-host. mitt romney raised over $100 million in july. reince priebus saiidd, "once again, this is more than a campaign. it is a cause." children will probably notice some changes this year. less focus on a single test. difficult class work. they could see cuts to activities because of the economy. those of some of the latest headlines on c-span radio. >> democrats are voting this weekend in detroit. republicans start their platform process in tampa later this month. c-span's ridge begins aug. 10, fall by the national

the g.e. profiles and other models that were sold. stop using these dishwasher's immediately and disconnect the power supply to the unit. consumers will have a choice of a free repair or they can get a rebate toward a new dishwasher. the cpsc to medications staff can give you more details and we will be sharing more details at the end of this forum. one other news item i would like to mention. i am charged with running a regulatory agency, i do not believe all the problems that we face are best solved from all regulations. one such area is concussions in sports, particularly football. she was a part of the washington divas, the woman's football team in d.c. i would like to share the work that led to roger could tell and meet joining forces -- roger joining me.ell we set out to see what contributions toward reducing the risk of a concussions and head injuries in football. we have been working with all the major football organizations from the nfl down to the major helmet manufacturers and our sister agency, the cdc. working to accelera

the g.e. profiles and other models that were sold. stop using these dishwashers immediately and disconnect the power supply to the unit. consumers will have a choice of a free repair or they can get a rebate toward a new dishwasher. the cpsc to medications staff can give you more details and we will be sharing more details at the end of this forum. one other news item i would like to mention. i am charged with running a regulatory agency. i do not believe all the problems that we face are best solved from all regulations. one such area is concussions in sports, particularly football. she was a part of the washington divas, the woman's football team in d.c. i would like to share the work that led to roger goodell and me joining forces. we set out to see what contributions toward reducing the risk of concussions and head injuries in football. we have been working with all the major football organizations from the nfl down to the major helmet manufacturers and our sister agency, the cdc. we will be working to accelerate brain injury in h

captioning sponsored by macneil/lehrer productions g.e. i'm gwen eiffel. welcome to the pbc "newshour" at the republican national convention. >> woodruff: here at the tampa bay times forum where later tonight mitt romney will accept his party's presidential domination. >> we'll have the speeches, the videos, balloons and analysis as well as interviews with players and delegates. >> woodruff: your all access pass extends beyond our "newshour" sky box to the floor, to the back rooms and online. where you can find our 24-hour live stream coverage of events inside and outside the hall. you can also follow along on twitter, using the hash tag pbs election. >> ifill: we're not alone. with us are syndicated columnist mark shields and david brooks. welcome back we're glad to see you. what do you expect tonight? >> i expect history being made. i do. >> ifill: you're excited? >> i am. i'm excited. i think it's a defining moment, the biggest moment of mitt romney's public career. >> balloons will drop. before that we'll get to know something about the guy. as i said