mr. buffett all the best.es after his open letter to shareholders yesterday afternoon. >> quick look at

mr. buffett and mr.e board have been very diligent in picking the eventual successors. >> i imagine there will be a number of questions about his prognosis and succession. is there a specific person among those that are often speck late about which you would like to see and is there a specific direction you would like to see mr. buffett articulate about the succession plan. >> in fairness to the eventually candidate, if mr. buffett was going step down in a year two we need to know the name of the person. hopefully he's around for another six or seven years. not unlikely the favored candidate could be a different individual from a few years from now. at least in our mine we're pleased with the level disclosure so far. snuld like to see a name or okay without it? >> no. only in the sense that if mr. buffet had near term plans to step down, obviously within a year or two. in that event, we would like to see a name, but we're assuming he's going to be around for more than a few years. we don't need have a si

mr. buffett today, is that right? >> that's correct. he reiterated a lot of things he put out in the release. he feels great, is he not worried. this is survivable and doesn't change any day-to-day activities at this point. he said that the succession plan, one of the huge questions. the succession plans are not changed at all, and, larry, we talked with him, a cnbc interview with him back at the end of february, and at that point, he told us that the board has had chosen a successor, but that successor did not know they were the chosen one. that has not changed. that successor is the same person and that person still doesn't know. >> can i stay on mr. buffett's health for a moment. how was his energy level? what did he say to you? >> he sounds the way he always did. usually when he says to him, he says never better. but he says things are going great, i have 100% energy, and he feels very confident with his decision. he has chosen with his doctors to wait until the middle of july to do radiation treatments. his doctors feel comfortable

mr. buffett's case?verall. >> overall it's as this second leading cause of cancer death behind lung cancer. lung cancer is ahead of it and colorectal cancer is third and catching up. one of the things is there competing risk factors. for example, i think in general cardiac care for cardiac conditions improved over the last decade or two and that denominator in terms of longevity has been stretched out and take mr. buffett's case for example he is in his early 80s and relatively fit depending on his genetic profile and his lifestyle. we try to judge people by their physiologic age rather than chronologic age. we don't want to be cavalier with the decision making. >> thanks so much for your expertise on the subject matter. andrew lee from md anderson. stay tuned. we will continue to monor the action in a lot of other rumors in addition to the story. we are all on the move in the after hours sessions. stay tuned. i went to a small high school. the teacher that comes to mind for me is my high school math tea

mr. president, i rise to speak on the buffett rule. mr. president, how much time is allocated to me?the presiding officer: there are 18 minutes remaining on your side of the aisle. ms. mikulski: mr. president, i'll take five minutes, no more than five minutes. mr. president, i support the buffett rule because i do believe in fundamental fairness that if you live in the united states of america, that you benefit from the united states of america, both its national security and its public institutions and the public progress, because of that, like public education, land-grant colleges, that you need to pay your fair share. this is what america is all about: fairness and that we're all in it together. now, let's talk -- i've heard all afternoon about oh, this hardworking entrepreneur and oh, this hardworking small business. mr. president, nobody gets to be that hardworking entrepreneur without the united states of america. they've gone to public schools, they've enjoyed public transportation, i could go through a variety of public institutions, safety in our dam, now cybersecurity, wars

mr. buffett is a good friend of the program, a nice guy, very generous guy.elf out for his name so let's look at him, starting with berkshire hathaway. it's a tax dodge. it's set up as an insurance company, using insurance company reserve rules to allow it to acquire all of these assets. so that's why they don't have to pay a dividend because they have the best internal tax-free buildup system you could have. it is a tax shelter. mr. buffett gets his earnings from selling those shares but he gets to give them away. now, if you give them away, you don't have to report the capital gain as income and you get a deduction for it. so the buffalo rule is going to do nothing to berkshire hathaway, it's going to do nothing to mr. buffett's charitable deduction system, which allows him to pay little taxes. it will affect a few hundred other people. there are about 400,000 people making more than $1 million. i would be surprised if 2% of those people are actually affected by what's being proposed today. it raises nothing in revenue yet we're leading with it as a big iss

mr. president. i rise this afternoon to speak against this so-called buffett rule. mr.president, this is a gimmick. it's a political gimmick. this is not a serious effort to deal with a ridiculously broken tax code. this is not a serious effort to deal with a completely broken budget. and frankly it's very disappointing to me we're wasting toimgtime on this instead of dealing with both of those things. we -- we have a tax dead that's ridiculous. it is impossible to understand, counter to economic growth. badly needs a complete overhaul that would simplify this code, get rid of unfairness, broaden the base and encourage economic growth. instead we've got this the gm i can because we don't have the political leadership to deal with the underlying real problem of a badly flawed tax code. likewise on budget policy, this does nothing meaningful for our massive budget deficits that we've been running. in fact, this body chooses again for the third consecutive year not to even have a budget. it's unbelievable. instead, we're going to waste time arguing about this political stu

mr. buffett's prognosis is excellent. >>> after a mixed week one economist is feeling optimistic.joining me now is mark zandy, chief economist at moody's analytics. mark, it's great to see you, thanks for being here. >> thank you, sue. good to be with you. >> we're in the thick of earnings season. some of the biggest companies are parenting a picture that's pretty much okay. investors showed a lot of caution this week. what's your take on the health of the economy now? >> it's okay. i think that's a good word to describe it. nod boom times. we're not off and running. but growth is about 2.5%. that's pretty consistent with job000 to 200,000 per month. so pretty good. not great but just okay. . i think we're doing okay. >> bumping along the bottom, if you will. what about the jobs picture? you predict the unemployment rate will be below 8% by year's end, below 7% by 2013, what makes you optimistic here? >> profits, that's a very good reason to be optimistic about future job growth. businesses are doing very well. their profit margins are about as wide as they've ever been in the dat

never get to include warren buffett and you can just guess who penned the write up to go along with mr buffett if you can take a look it is true that our for the sport of warren buffett for example let me tell you what is with all the economic. but you don't vote for you for the. for in war both of those lower tax rate than a secretary. these guys are still in bed together so obama rode warren buffett's most logical person right as far as corny capitalism is concerned though i think obama's kind of getting played by warren buffett right before his a book part. to leave theory of barack obama. who is is is selling the high seas and he is loving warren buffett have his way with him and grok obama should basically grope her and do something realistic and so people want to sort of basically just do whatever warren buffett wants and play to the tune of one buffet which is like i'm just a little paper boy we do the whole yesterday and obama didn't have more budget writing his write up he had some time staffer seemingly less exciting i just want to point out the hacker group anonymous grabbed the maj

mr. buffett and other wealthier americans to pay a little bit more than than a widow who depends on medicareor her health care and depends on social security for her safety net. and so i think there could be a bipartisan consensus there as we saw on simpson bowles to begin the important work of tax reform. >> why did you not endorse simpson bowles, there's a lot of people who talk about the framework. >> some of our most conservative members at the time, judd gregg and tom coburn voted for it. don't pay attention to the fact that uncle sam needs to be on a diet, we're going to continue eating jelly the donuts as we take our -- close that gap between federal spending and federal revenue due to a robust private sector and better job creation. this is a stunt t president's as much as admitted it, it's intended to divide america along class lines and it's exactly the wrong way to try to approach a very serious topic that should be approached on a by partisan basis. >> you're a guy that has to raise money out tlrks there is a report that the romney victory fun which is now going to be the presump

mr. president, i rise to speak on the buffett rule. mr. president, how much time is allocated to me?the presiding officer: there are 18 minutes remaining on your side of the aisle. ms. mikulski: mr. president, i'll take five minutes, no more than five minutes. mr. president, i support the buffett rule because i do believe in fundamental fairness that if you live in the united states of america, that you benefit from the united states of america, both its national security and its public institutions and the public progress, because of that, like public education, land-grant colleges, that you need to pay your fair share. this is what america is all about: fairness and that we're all in it together. now, let's talk -- i've heard all afternoon about oh, this hardworking entrepreneur and oh, this hardworking small business. mr. president, nobody gets to be that hardworking entrepreneur without the united states of america. they've gone to public schools, they've enjoyed public transportation, i could go through a variety of public institutions, safety in our dam, now cybersecurity, wars

forget to include warren buffett and you can just guess who penned the write up to go along with mr buffett if you can take a look it is true that part for the sport of warren buffett for example let me tell you what is with all the economic. but you don't vote for you for the right for in war both pays a lower tax rate than a secretary. if guys are still in bed together so obama rode warren buffett's most liberal person right up as far as corny capitalism is concerned though i think obama is kind of played by warren buffett right. to leave theory and barack obama. is is is still in the high seas and he is living warren buffett had his way with him and broccoli bamma should basically grow care and do something realistic and something that people want to sort of basically just do whatever warren buffett launch and play the tune of one buffet which is like i'm just a little paper boy with the whole. i don't want to have more and better writing his write up you have some time staffer seemingly less exciting i just want to point out the hacker group anonymous grabbed the majority of the web vot

mr. buffett rule says no one making more than a million dollars will pay a smaller share of their income taxes then middle class families to the romney rule says that the very wealthy should keep every tax break and loophole they have here and get additional new tax cuts every year that are worth more than what the average middle class family makes in a year entire year for the romney rule now here's what f.d.r. had to say about his back in one thousand nine hundred six by way of demonstrating this is not a new argument. but one irks me my cardio citizen who believe the benefits of them are big. and they were willing. know what. they are a bit of a poet but oh boy. oh the. big. problem and roosevelt only prevailed the top tax rate went up to ninety one percent and produced four decades of stability in our economy in a growing middle class so do republicans really think they can win on a platform of tax cuts for the one percent higher taxes for the working people i think it's pretty clear the republican support comprehensive tax reform close the loopholes get tax rates down but don't do i

mr. buffett said obviously he's the number one shareholder of usg and loves the housing market. would that be a way to play it or does this run too far, too fast? >> no. when i look at the home builders or building material companies versus the banks, all you do is have to apply the two-year chart between home depot and bank of america. you'll see how bank of america dramatically underperformed for obvious reasons. companies like bank of america, berkshire, wells, fargo are cheaper way to gain exposure to the housing theme. >> has anybody can convinced to make a move? >> i'm already in that trade in usg. dougie is right on this. you may have this mortgage -- there's going to be more foreclosures coming through. we all know about that. i think he's spot on on this. >> let me tell you, the shadow inventory is clearing. you look at phoenix, arizona, which had 17 months of supply 12 months ago. it's now under three months. in the west coast, not inland but north and south southern california, land prices are soaring. the rural land market is regaining the speculative tone it had in

mr. buffett himself has complained about.there's a pretty wide sense that the american tax code serves special interests and people who have phenomenal amounts of wealth much better than it serves regular, middle-class taxpayers. and that's particularly true if you avoid doing what my republican colleagues have done which is to focus on the most progressive part of the tax code, the income tax, and ignore the most regressive part of the tax code, the part that hits working families the hardest, which is the payroll taxes. and almost everything they say about the american tax code conveniently omits the taxes that most americans -- more americans pay than the income tax, frank. but we had a good discussion on that subject and i think because it was so difficult for so many of my colleagues to come out in favor of an upside-down tax situation in which somebody making a quarter of a billion dollars pays a lower rate than somebody making $100,000 or $90,000, other topics were brought up. we kind of had a march through all the pos

ii wws named for billionaire investor warren buffett, ut mr. n frontrunner mitt rooney. both romney and buffett pay about 15% of their income in taxes on investments. the president is also pargeting reeublicans in the senate, who will soon have to vote on the so-called buffett rule. obama says: "iive told you where i stand. now it's &ptime for members of congress to tell you where they stand." the issue hhs really lower the the issue has touched a nerve with republicans who say it won't really lower the deficit, won't create jobs and has no chance of passing tte house. teeas senator john cornyy called it, quote... "...a partisan manifesto created to try and justify a campaign tax hikee" and fellow texan george w. bush, in a raae public appearance since leavvng the white house, warned raising taxes would cost obs. bush says: "if the you gotta recognize that the best way to create that growth is to leave capital in the treasuries of the job creators." but job cceation during mr. bush's 2 eisenhooer, despite his tax cuts. a new waahington post-abc

mr. buffett and his secretary to release actual numbers. what are the salaries and effective tax rates and they have refused. so what evidence do we have the buffett rule is anything more than a figment of somebody's imagination? >> we understand warren buffett receives from his own company $100,000, or there abouts in regular income per year. therefore the source of warren buffett's wealth is not regular income. it is capital gains. and a cap tail -- capital gain is taxed at low rate, 15%. if he were to pay himself more in regular salary he would indeed pay a higher tax rate, 35%. he pays his secretary, we understand, sources say, around 400,000 a year. megyn: that is a good job!. >> therefore she pay as higher tax rate than warren buffett because warren buffett pays largely a capital-gains tax rate. his secretary pays regular income. most millionaires, in this country, who receive a million dollars in regular income pay a top tax rate of 35%, higher than their secretaries. megyn: before i go back to chris, explain the capital gains money.

mr. buffett. you owe a billion dollars in back taxes. not paying enough, write a check.: that is in contest with the irs he is allowed to do that legally. juan, when the president first proposed the buffett rule he said it would, and i'm looking at his very words, raise enough money so we stablize our debt and deficits for the next decade. well, now his own treasury department confirms that that is utterly untrue. at best it will raise $5 billion a year, when you do the math that is less than 1% of our 1.2 trillion dollar deficit. so, i mean, come on, isn't the president being deceptive? >> well, i think that's why you heard the president, gregg, say this goes beyond fairness. when he says that this is beyond fairness, i think he is indicating this is the first step from his perspective. gregg: but he used word deficit again yesterday, juan. you heard the clip we played in the intro. >> that is what he is getting at, gregg. you have to start looking at things like the bush tax cuts. you have to start to look at social security, the payroll tax cuts. then you have to also

mr. buffett would be able to avoid his own buffett tax. so what is the president doing? why with taxmageddon around the coarch, are they dithering with these increases? the answer is simple: politics. president obama has read the polls. he knows he's in trouble. his approval rate something declining and he does not have a single positive accomplishment to run on for a second term. the $800 billion stimulus, a failed policy that has not kept the unemployment rate under 8%, obamacare rejected soundly by the american people, it might now be rejected by the supreme court, is one of the biggest unconstitutional boondoggles in our nation's hoart. what else does he have in absolutely nothing. his admirers moit not know it but mitt romney is in the cat bird seat. president obama is appealing to all he has left cloosh core, left-wing supporters, one step from an occupy wall street encarchlt who love class warfare. before the buffett rule, democrats proposed six different pieces of legislation that in one form or another raised taxes on millionaires. here they are. that's the thir

mr. buffett and others, but it's a good way to help our deficit. the only thing that the republicans will do is enhance the pocket money of people who don't need it. i will join in a bipartisan way to look at it. i would hope that we would be able in making the tax code fair to bring down the deficit. but the bill that we will see, as i said, will increase the pocket change of millionaires. it will be a job killer. and, of course, it will cut the medicare guarantees of those who have worked hard for their children and grandchildren. i cannot support legislation that isn't fair and balanced and i would plea to my colleagues to find the middle ground of fair tax code, bringing down the deficit. i would encourage them to look at h.r. 3710, an energy bill, myself who practiced oil and gas law for 15 years. it addresses the question of the wetlands. it uses exploration dollars to bring down the deficit and it allows an expanded exploration in the gulf region. process that has been vetted by many energy organizations, energy companies and they believe th

. >> by voting for the buffett rule. >> reporter: mr. obama continued his campaign for a change in the tax code named after a billionai billionaire. >> the buffett rule. >> reporter: it would require those makes at least $1 million to pay the same as middle class. buffett said he shouldn't pay a lower rate than his secretary and the american public agrees. a gallup poll just out said that congress should pass the buffett rule. 37% say it's a bad idea. the president is turning up the volume because it comes up monday. despite the public support, david, it's not expected to pass. >> david kerley in washington, thank you. i want to bring in senior political correspondent, john karl. that push for the president to release tax returns that every candidate should release their own tax returns. when his father ran for president. he released 12 years of tax returns, to set an example. here's what his son said about that. >> i disagree with my dad on allow the of things. i'm putting out two years which is more than anyone else on the stage. >> thi

mr. buffett. salt lake city, utah. good morning.caller: as far as federal land management, that is a big subjects, but what comes to mind right away is that the reason this state once the the land back as you have wackos like bill clinton who slapped 1 million acres on that monument in southern utah and never checked with the miners that live there. a lot of these states want the land back because they are scared these extremist administration they're going to take the land and go environmental crazy with it. and this wind powrer thing, i'm not sold. you see them going up. what good does it help the individual citizen? i am not so sure that this wind power is helping out everybody. host: let's get insight from our guest, david givens. guest:, declaring a land to be a national monument often draws the ire of the people. who is in 1600 pennsylvania avenue will often be the driver on these issues. he will see this come up again and again. as far as wind power, individuals have benefited. we have a very low power prices particularly in

mr. buffett lives in a country like i do where he's able to achieve what he was but warren buffett is a billionaire, not a millionaire. now, let's talk about who america's millionaires are. in my part of the country, farmland sales for about $3,500 an acre. so if you own 285 acres of land that you farm, you're a millionaire. mr. scott: in other parts of the country it may sell as much as $15,000 an acre. if you are a farm family with 66 acres, that's one of america's millionaires. these are hardworking middle-income americans who saved all their lives to pay for the farm. we need to work to protect these families' farms so that the next generation can carry on their legacy. we hear a lot about that, protecting the american farmer from the other side of the aisle yet they propose tax policies that do the exact opposite and very much would destroy our agricultural industry and the safety net that it provides in this country. in fact, if you follow their tax policy, america's farmers will simply be another statistic. what statistic? as it stands today, approximately 30% of family businesses will be pa

. >> by voting for the buffett rule. >> reporter: mr. obama continued his campaign for a change in the tax code named after a billionaire. >> the buffett rule. >> the buffett rule. >> the buffett rule. >> reporter: the so-called buffett rule would require those making more than $1 million to at least pay the same rate as the middle class, 30%. buffett said he shouldn't pay a lower rate than his secretary and the american public agrees. a gallup poll just out said that 60% of americans says congress should pass the buffett rule. 37% say it's a bad idea. the president is turning up the volume on the buffett rule because it comes up in the senate monday. despite the president's efforts and public support, it is not expected to pass. david. >> david kerley in washington, thank you. i want to bring in senior political correspondent, john karl. jon, we heard from the president today, that the push for the mitt romney to release his tax returns, that the president said every candidate should be transparent, in his own words, when mitt romney's f

in his weekly address -- >> by voting for the buffett rule. >> mr. obama called for a change to tax cold named after a billionaire. >> the buff bette fuel. >> the buffett rule. >> it would require those make more than a million dollars to at least pay the same rate as the middle class, 30%. it'sway but who says he -- buffett who says he shouldn't pay a lower rate than his sect. 60% of americans say congress should pass the buffett rule. 37% say it's a bad idea. >> while the tax deadline has been extended until tuesday, april 17th. because monday is a holiday in washington, dc. >> alan: which give twoz california celebrities very little time to pay up. lionel richie could be in big trouble. owing the federal government more than $1 million in unpaid tacks. reports a lean has been and his assets may be seized if he doesn't cough up the money, and pamela anderson owes more half a million dollars. neither celebrity has issued a statement. >> ama: the federal government says it happens to one in six cell phone users. they good over their limits for texting

mr. buffett's charitable deduction which allows him to pay little taxes.t a few hundred other people. >> paul ryan will go down as -- this will be the single worst move in the republican party for many years. >> yahoo is behind the times, and it's proven like research in motion. once you fall behind in technology, it's really hard to catch up. >> when you put away the price of those patents and the price facebook is paying for instagram, does it reek of a bubble in any way? >> the question is where are we in the bubble formation? >> opening bell time, a look at the s&p 500. >> today best buy has announced the resignation of its chief executive officer, brian dunn. >> i look at best buy now, a company that's in a very difficult position, and now their senior leadership is in flux. so i view this very many as -- very much as a negative. >> get a check on the markets this tuesday morning. once again, for the fifth session in a row, the dow is down almost 70 points, the s&p down to almost 7 -- just lost it there -- 1375 and the nasdaq negative as well. best bu

meanwhile in his weekly address -- >> by voting for the buffett rule -- >> mr. obama continued his campaign for a change to the tax code named after a millionaire. >> the buffett rule. >> the buffett rule >> the buffet rule. >> the so-called buffett rule would require those making more than $1 million to at least pay the same rate as the middle class, 30%. it's warren buffett and said he shouldn't pay a lower rate than his secretary, and the american public seems to agree. a gallop poll just out shows 60% of americans say congress should pass the buffet rule. 37% say it's a bad idea. >> the tax deadline has been extended until tuesday, april 17th sense monday is a holiday in washington d.c. >>> the looming tax deadline gives two california celebrities very little time to pay up. lionel richie could be in big trouble. the singer o's the federal government more than $1 million in unpaid taxes. there are reports a lien has been issued and his assets may be seized if he doesn't cough up the dough. and former "baywatch" actress pamela anderson o's more than half a mil

meanwhile in his weekly address -- >> by voting for the buffett rule -- >> mr. continued his campaign for a change to the tax code named after a millionaire. -- a billionaire. >> the buffett rule. >> the buffett rule >> the buffet rule. >> the so-called buffett rule would require those making more than $1 million to at least pay the same rate as the middle class, 30%. it's warren buffett and said he shouldn't pay a lower rate than his secretary, and the american public seems to agree. a gallop poll just out shows 60% of americans say congress should pass the buffet rule. 37% say it's a bad idea. >> the tax deadline has been extended until tuesday, april 17th sense monday is a holiday in washington d.c. >> san francisco voters could see changes at the policy. abc7 news reporter shows us the new math. >> this is the final meeting of the san francisco redistricting task force. after 30 meetings since last august, a final district map was accepted. >> i'm happy to say that we now have an approved final map. thank you all. >> the new map adjusts the cities 11 district

said lou gives insightful explanation of the buffett rule now some weren't buying it first let me play you a shortened version this is very condensed of mr rockwell's argument of why he believes the buffett rule is pro all apart and why he believes that's warren buffett's intention take a listen doesn't go after the warren buffet taxes which was the political game start and i'm not for doing that. there's no after that it goes after in the income tax of people making a million dollars with the people who are making a million dollars a year who are either very successful professionals but for the most part they're young businesspeople who are building their businesses starting to create something that might actually in a free market become a massive enterprise a great benefit. so a r r four g t r took issue and said to walk well go you make some intelligent points is peddling some snake oil of his own he says the buffett tax would cap capital gains excuse me would tax capital gains to thirty percent or above a million dollars people making a million or more this year argues a year are not primarily small business owners they are primarily

he's expected to outline his plan for the so-called buffett rule. mr. obama will talk about this proposal to tax millionaires. tax them by 30%. it's something that will be voted on in the senate in the next few weeks. we will carry that message for you live. >> meanwhile, red on wall street. the market is down for a fifth day in a row. more fears of global slow downs rattling investors. there could be higher tax but given the uneasiness in europe and selloff in the euro zone. it is the worst losing streak for the market so far this year we're see a flight to safety. yields on the ten-year falling below 2% in a month. coming up, ways to protect your money during these uncertain times. take a look at how we approach this final stretch. with the dow jones industrial with the decline of 199 points. it was down 200 points. nasdaq, also weaker. it, too, bouncing off the lows. very close to it. 52 points for the nasdaq. check the s&p 500 declining by 1 2/3%. the cyclical names under pressure at 1359 in the s&p 500, bill. >> as we wait for the president's speec

it was named for billionaire investor warren buffett but mr. target include multimillionaire republican front runner mitt romney. they pay 15% of their income on taxes on investment and he is targeting republicans in the senate who soon have to vote on the so-called buffett rule. >> i told you where i stand. now it's time for members of congress to tell you where they stand. >> the issue has touched a nerve with republicans that say it won't lower the deficit, won't create jobs and has no chance to pass the house. john cornyn called it a partisan manifesto to justify a campaign tax hike. fellow texan george w. bush in a rare public appearance since leaving the white house warned raising taxes would cost jobs. >> if the goal is private sector growth, you got to recognize that the best way to create that growth is leave capital in the treasurys of the job creators. >> but job creation in mr. bush's two terms was the worst since eisenhower, despite the tax cuts. new "washington post"/abc news poll suggest most people disapprove of obama's handling

mr. warren buffett wants to be credible, why does he not paid a $1 billion in back taxes that his corporation owes? guest: i did not now the facts about that, but i will say this, a lot of these people like warren buffett, these millionaires for higher taxes, are hypocritical. if they want to pay higher taxes, they should pay higher taxes. if you want to pay more taxes, you are certainly permitted to do so. none of these people do. the truth is they want other people to pay higher taxes, not themselves. you have these hypocrites because very few of them pay more than they're supposed to. host: this e-mail. default is a great question. ireland is -- guest: it is a great question. ireland is a great case study. they cut corporate tax rates to the lowest in the world, and then you had this incredible boom in ireland for almost 20 years. they became an eventual of europe. in fact, some many businesses -- the kind of jewel of europe. in fact, so many businesses were moving into ireland, the rest of the european union started to complain. it was a big success. ireland got a lot of jobs. the economy

mr. warren buffett wants to be credible, why does he not pay the $1 billion in back taxes that his corporation: i do not now the facts about that, but i will say this, a lot of these people like warren buffett, these millionaires for higher taxes, are hypocritical. if they want to pay higher taxes, they should pay higher taxes. if you want to pay more taxes, you are certainly permitted to do so. none of these people do. the truth is they want other people to pay higher taxes, not themselves. you have these hypocrites because very few of them pay more than they're supposed to. host: this e-mail. guest: it is a great question. ireland is a great case study. they cut corporate tax rates to the lowest in the world, and then you had this incredible boom in ireland for almost 20 years. they became an eventual of europe. in fact, some many businesses -- the kind of jewel of europe. in fact, so many businesses were moving into ireland, the rest of the european union started to complain. it was a big success. ireland got a lot of jobs. the economy boomed. it is true when our economy crashed, their econ

of bunnies institute and author of the left right and the states and mr rockwell before the break you were bringing up warren buffett a couple times i want to ask as far as the buffett rule overall and the fact that it won't really bring down the deficit or reduce the u.s. debt what it's really about just politics well first of all. we always think of the taxation as being shorthand for wealth structure so they want more wealth destruction in the economy so i would say no but here's what the buffett rule is all about it benefits the all the gore people like warren buffett by crushing the rising young entrepreneurs that is the main purpose of the buffett rule it's a class rule not against the feds but by the book against people who would be there their competitors but oligarchs tend to hate and fear anybody rising up they want to prevent it so it's a lab and then of course there's also way and the illogical role for the obama administration in saying no we're fair we're going to tax those who are. people who are producing goods and services for society and benefiting the human race we're going to we're going to kick

buffett rule. romney was one of 22,000 millionaire families that paid a less than 15% tax rate because the income is from investments. mr. obama says the republicans' resistance to the buffett rule is another sign that the party has moved to the right. former president reagan called it crazy with the tax loopholes to allow multimillionaires to pay lower bus rate than bus drivers. current president had a suggestion. >> if it will help convince folks in congress to make the right choice we could call it reagan rule instead of the buffett rule. >> business groups say the buffett rule is unfair because it double taxes money paid to executives who have chosen to be take a percentage of company profit or investment return in lieu of salary. the corporate rate and then at an individual rate. the white house believes that is a tough sell to the american public. bret? >> bret: wendell goler live at the north lawn. thank you. mitt romney said that the general election campaign started yesterday. he made it clear that he will spend seven months going straight at the president. chief political correspondent carl cameron on romney's