s pay -- their c.e.o.'s' pay. think how many people would have had a better life if they raised their pay by a dollar an hour. but, no, the c.e.o. slashes 80,000 jobs and arranges to pay himself $28.4 million. or how about g.e., which boosted its c.e.o.'s pay nearly $18 million in 2016 while cutting 14,700 jobs over nine years and achieving a negative tax rate -- a negative tax rate. get that. they didn't pay a dollar to the national treasury, not a dollar. they had a negative tax rate. the company got more money back from the government than it paid in taxes. how about exxonmobil? between 2008 and 2015, they had an effective tax rate of 13.6%. that's way below 20%. so did we see in that time period a significant growth in the number of people they employed because they got this hugely beneficial 13.6% tax rate? no, we did not. in fact, they cut their workforce by a third, their global workforce by a third. and at the same time the c.e.o. of that company, who just happens to be our secretary of state at this momen

ajit pai to the federal communications commission. mr. pai both as f.c.c. commissioner and now as chairman has not been a vigorous watchdog for free speech. he has not put the people's right to information first. in fact, he has put corporate interest first. and he has opposed policies outright that ensure underserved communities have access to essential technology. i strongly oppose his renomination to the commission. let's begin with his responsibility to guard first amendment rights. president trump has relentlessly attacked nbc, cbs, abc, cnn, "the new york times," and "the washington post." he called these established and esteemed news outlets fake news. he even called them the enemy of the people. earlier this year in february during a senate commerce hearing, this was an oversight hearing, i asked chairman pai point blank whether he agreed with the president that these mainstream news organizations were itself enemy of the people -- were the enemy of the people. he refused to answer, refused to disagree with this patently outrageous and anti-american

you don'tath tax -- pay death tax until after $5 million. how does this affect the average american? thank you. guest: number one, i don't care how big your family education is -- you have a lot of family businesses in america that exceed that cap you are talking about. i don't think anybody in america, no matter you are, should work your entire life to build a family business, and then you have to pay that off to the federal government when you pass it on to your children. i don't think that is right. look, i can tell you this -- what we know is when you let the american people keep more of what they are in and pay less in taxes, where the federal government takes less from the american people, throughout american history, we have seen the effects of that -- how it gets the economy going, how people gain confidence and they invest, and a save, and they put money back into their businesses. it creates opportunities for them and their families and their children. i represent a part of the country -- appellation -- where the average income in

co-pays and this is what you pay your doctor the part you have to pay when you go to the doctor, the insurance company pays the rest but also deductibles and coinsurance. now tax credits are paid for by the united states so when you buy insurance on the exchange and when you pay your premiums you pay part of it and the united states treasury pays the insurance company the rest and it is all reconciled when you file your tax returns cost-sharing on the other hand is paid for by the insurance company so when you go to the doctor you pay part of the cost-sharing or maybe none of it but the insurance company will pay the rest and this is important because even if the insurance company doesn't get reimbursed for the cost-sharing it has to pay it in the law says the company has to pay. if they don't get reimbursed all they can do is raise the premiums in order to make up for that. congress envisioned that the united states would pay the insurance companies every month for the amount they paid in cost-sharing but in order to reimburse the entrance copies the ministration had to have the mon

20, companies will pay yet less. >> correct. the idea is they won't need the lawyers, won't need the loopholes because they're paying less. but with the loopholes still existing, they'll keep all that in place and pay even less. >> staying with taxes as we just mentioned, a big break that may be on the chopping block for other cuts are the tax-deferred contributions to 401(k) retirement plans. they are the foundation of retirement savings in this country. there is, however, some debate over their benefit for the average american. so for fact's sake, here is why 401(k)s fall short when it comes to retirement planning. 401(k) plans are by far the dominant way americans save for retirement. lawmakers working on president trump's tax plan floated a controversial idea, they want to cap all tax deferred contributions to 401(k)s at just $ $2400 a year. that's down from the current $18,000 a year. the president reacted swiftly with this tweet. there will be no change to your 401(k). this has always been a great and popular middle class

somebody is paying. either indirectly through a premium or directly through a co-pay so somebody is paying. >> i would argue too, when companies price their product, they are not just looking to get reimbursed for the prices they spent on getting that individual product to market. companies are investing in the next generation of cures and treatments, those costs also have to be recouped. there's been many advancements in insulin since they first began many years ago. some newer insulins are longer acting -- >> if i may say just to counter, more emphasis raising prices on established drugs than new an innovative drugs. i don't have the statistic in front of me but i've read that in the past. >> last year price increases on all drugs was at 2.5%. price increases moderated over the past few years. while that may have been the case several years ago we are not seeing the kind of price increases today that we had years ago. >> i didn't mean to be rude, i apologize. mr. merit, i've learned to say what i'm tol

for the conservatives they've given the low pay the pay rise, workers a tax cut and ensure there's a benefit tape-- system that helps people. >> mr. speaker, under labor 1 million children were lifted out of poverty. under labor, we introduced the principles of the national minimum wage opposed by all over there and if the prime minister is not prepared to listen to angela berg, perhaps she can listen to the architect of universal credit, woodford green who said one of the reasons i resigned from the government was i didn't actually agree. this is something the government needs to look at. does the prime minister agree with him? >> it's not just the answer of give and i think three or four times now. as we look at universal credit rollout and we look at the way we introduce it. he talked about what happened under labor and i'm happy to talk about what happened under labor. >> too much noise on both sides of the chamber. at the responses from the prime minister will be heard as will the questions from the opposition and every other member without fear or favor. prime minister? >> unde

not pay that. i agree it is a practice that we don't support, it is an outlier practice that we hope goes away. >> thank you, senator collins. first i should say that i did not handle an earlier question about rebates. we oppose rebates in all their forms. with regard to the questions you just asked, pharmacies are incredibly frustrated -- pharmacists are incredibly frustrated with their inability to help patients. providing patient care should not be this difficult. my members feeling credibly frustrated with their lack of connectivity, their lack of communication with plans. essentially they have no negotiating power and they are told what they have to do and they can take it or leave it. they can either be in a network or not, typically not. if they are in the network they are told how to perform. >> is it an outlier? >> it is not an outlier. it is common. >> thank you. senator kaine. andhank you, madam chair, thank you to the colleagues and witnesses for their testimony. i want to ask a couple

a higher-paying job, and wants to help pay the loans his mom co-signed. >> i don't want her to be suffering for any longer than she has to, just for doing the nice thing and cosigning on a loan. would i do it all over again? no. i would not do it again. i would stick around and stay home for a couple of years. and go to a community college. near my house. >> reporter: in the meantime, nancy says, the loan payments are weighing her down. >> it governs everything i do, every decision i make. it all revolves around making sure that i have that money to make that payment, every single month. >> reporter: nancy has consolidated, and has gotten slightly lower interest rates, on some of the loans, but she expects she'll need to work part-time after she retires. and she's also considering moving to montana, where the cost of living is cheaper. >> my life isn't going to be the way that i'd hoped that it would be. it just simply isn't going to be. >> reporter: there's also this catch with federal loans, and older borrowers who can't pay them off-- the u.s. treasury can garnish their social security b

pai. i'm not going to give it today because of the horrible situation in las vegas which i want to speak about. but i agree with his vote. i'm voting no on mr. pai. well, mr. president, there are precious few words for days like this. last night, as everyone now knows, at a concert in las vegas, nevada, a gunman opened fire on a crowd of 22,000, killing at least 58, sending hundreds, hundreds more to the hospital. it was the deadliest mass shooting in the history of our country. our collective hearts, so hardened now by the absurd frequency of this mass shootings, are broken once again. we mourn the families of the fallen. we pray with the families of the wounded. we have the deepest gratitude for every first responder, cop, and firefighter who rushed to the scene. that hetheir heroism is an insp. today we're filled with shock and horror, sadness, and rage. the horrific massacre was perpetuated by an american on his fellow americans, and the visitors from every corner of the world were the

who pays for it? the democrats always talk about the millionaires and billionaires, but here's a simple fact. we could take every single person making $1 million a year or more and confiscate 100% of their income, everything they make, every penny, and it would raise about $1 trillion, 8% of the cost of bernie's tax plan. that means if you want tax revenue, you don't get it from it millionaires and billnaries, you get it from the middle class and the working men and women in this country. tax cuts are about jobs and more money in your pocket, more money for the single mom to buy books for her kids. for the truck driver to afford sending his daughter to college, for the family who's struggling to make ends meet to be able to save up and go to disney world. this debate is very simple. bernie and the democrats want to raise your taxes, and the republicans want to cut them so that you have more in your pocket. >> senator cruz, thank you. senator sanders. >> let me make a prediction. in two minutes, senato

pai, picture the fcc. since his appointment of as chair he has worked at breakneck speed to transform the fcc from an agency that works in the public interest to a big business support group. chairman pai started with net neutrality protections, rules that help keep the internet free and open by presenting giant broadband is from discriminating against certain internet users and turning the internet into another service ticket that caters to those pay top dollar. like his big broadband buddies chairman pai opposes net neutrality rules. once present was elected chairman pai declared the days of net neutrality protections were numbered and now he is working hard to reverse those roles.in chairman pai has more on his agenda. he is working to weaken thebi fcc's lifeline program that helps low income households across the country pay for phone and broadband services. chairman pai has also halted the sec's efforts to demand accountability from private prison phone companies that charge sky high rates to prisoner

he had to pay taxes.friends who finance the business had to be paid a return on their investment. when all of his bills were paid, jonathan had to exchange his big dream for a little dream. >> it is the privilege of alphonse, hat stylist for the grand heads of europe, to bring you hats with styles so sleek, quality mcafee, and a price lilac, so low. come one, come all to the grand opening. narrator: to meet competition, jonathan had to put quite a bit of his profits back into the business to develop a better hat. if customers approved the quality, style, and price of jonathan's new designs, he still could make his dreams come true. thisthe passing years, strong foundation of freedoms protected the dignity of the individual and his family, gave everyone the right to worship as he pleased, and promised anyone with ability and enterprise the opportunity to participate in the building of the american way of life as we know it today. a way of life that depends upon millions of thrifty americans who send a port

the first would pay nothing very the fifth would pay one dollar, the sixth would pay three dollars, the seventh would pay seven dollars, the eighth would pay $12, and the ninth would pay $18, and the richest would pay $59. that is what they decided to do. the 10 reporters drink in the bar every day and seemed quite happy with the arrangement until one day, the bar owner threw them a curve ball. since you're all such good customers, i'm going to reduce the cost of your daily beer by $20. drinks for the 10 reporters will cost just $80. the group wanted to stay -- still pay their bill the way we pay our taxes pay the first forward unaffected. -- the first four were unaffected. what about the other six? how could they divide the windfall so everyone would get their fair share? these are the reporters and they are concerned with parents -- fairness. if they subtracted that from everybody share, than the fifth reporter and the sixth reporter would each end up being paid to drink beer. so the bar owner suggested it would be fair to reduce each man's bill by a higher percentage, the poorer they

if you live in a high tax state and pay state and local taxes, you are not having to pay federal taxes on the state and local taxes -- they aren't getting the same tax break. it is a subsidy for well off states. homee same token, the interest mortgage deduction, incredibly popular. everyone sitting in their house is starting to get nervous, but we do need not -- do not need to subsidize mortgages. it's against the policy of trying to get home ownership the people into homes for the first time and focus on getting -- making sure those subsidies go to people with million dollar mortgages or vacation homes. we can look at the way we don't tax health care costs the same as wages -- called the health-care exclusion. something people on the right and left talked about curbing. i would really like us -- see us look at all these tax breaks and consider which we can get rid up and as much as we are willing to get rid of, we can bring the rate down. for democrats, mississippi, curtis is waiting period -- is waiting. wonderfule is a woman, but she needs to be much higher. the way she is explainin

you struggle each month, pay the mortgage, pay the taxes, pay the upkeep, but you're hoping by the time you reach later middle age, that you'll own that home, and that gives your kids a place, or it gives your kids a nest egg when you pass on. but this bill, by eliminating state and local, reduces across america on average home values by 10%. so it's a double whammy to the middle class. raising your taxes and lowering your home values. why would we do that? you don't have to take it from me. i'll tell my republican colleagues, peter king. rock-ribbed republican who has a lot of courage. this morning, i saw him on tv talking about investigating hillary clinton. but here's what he said about repealing the state and local deduction. he said, quote, it will devastate my district forever. that's a solid middle-class and upper middle-class republican district on long island. here is what else peter king said. how anybody from new york or new jersey can vote for this budget without knowing what is in the tax bill is beyond me. he was referring to the state and local. now, i salute peter king f

the middle income families, will pay more, tens of millions of middle class families will pay higher taxes. is f the ways they will because of the great idea the republicans have to stop the deduction for state and local taxes. this is a big hit on middle class families in our country. of dollars is ons because of the, borrows from the future, from our children's future, to give tax cuts to the wealthiest, 80% of the g.o.p. tax cuts go to the wealthiest 1% at the expense of our children and working families and our country's future. it would devastate medicare and medicaid after adding trillions to the deficit. g.o.p. will use the deficit to justify destroying medicare and medicaid. they are already in the bill aying that they are going to means test medicare means test medicare it's in keeping with their theory that medicare should wither on the vine. should wither on the vine. democrats are for a better deal. real bipartisan tax reform. any business will tell you that what they want in tax reform is some level of certainty. that this is means test medicare it's in keeping with thei

if you pay into a 401(k), you don't have to pay on the contributions, you pay for it after your retirement. if this happens, it means you would no longer have the ability to defer taxes on the contributions you make as you can today on a 401(k). and if that's mandated, it will affect people's ability to save for their retirement and affect retirement security in this country. here's the rub. it doesn't raise any revenue. it's just the timing of revenue. rather than collecting -- or by collecting it today, we lose it tomorrow. it builds in a larger deficit in the out years. it is actually contrary to good budgeting from the point of view from preserving us from going further into debt. we don't know if that will come out of the committee, but it could come out of the committee in order to moot the in -- to meet the instructions recommended by the budget committee. i could use the same arguments about how we could jeopardize the new market tax credits which are very important for economic developments, the historic tax credits that affect economic growth, the work opportunity tax credit that

there is a legal point, isn't there, that's how much you are legally obliged to pay, we should pay ith is lacklustre play on top, there's a deal to be done. —— that's how much they'd like us to pay on top. don't jab to turn many, but it doesn't help with organisations and to london not brussels and berlin and make an obvious statement. what would you say to a business person watching who says what we are asking for is certainty. in your previous life as a business person, i'm thinking, if they're asking for the transition deal, and clarity, is that unreasonable? it's not unreasonable. ichair unreasonable? it's not unreasonable. i chair businesses now and we would love a n i chair businesses now and we would love an 84 certainty and we don't get it from its affects investment decision. it affects the investment climate and one of the businesses i'd share with, we are wondering where we will be, do we hold back whatever someone else? the quicker we get certainty, the better it is. the argument in that letter is spot—on, not decrying the message, and saying you sent it to the wrong perso

, the seventh would pay seven dollars, the eighth would pay $12, and the ninth would pay $18, and the 10th, the richest would pay $59. that is what they decided to do. the 10 reporters drink in the bar every day and seemed quite happy with the arrangement until one day, the bar owner threw them a curve ball. since you are all such good customers, i am going to reduce the cost of your daily beer by $20. drinks for the 10 reporters will now cost just $80. the group still wanted to pay their bill the way we pay our firstour -- e how could they divide the windfall so everyone would get their fair share? these are the reporters and they are concerned with fairness. if they subtracted that from everybody's share, then the fifth reporter and the six reporter would each end up being paid to drink beer. so the bar owner suggested it would be fair to reduce each man's bill by a higher percentage the pooerer he was. by doing that, they continued following the principle of the texas and they have been using. he proceeded to work out the amounts that each should pay. so the fifth reporter, like th

throughout your working life you pay some money and your employer pays some money and when you retire, according to a formula, you get some of our money back through a social security check. so it's simple in theory. you put money in and when you hit retirement age you get some of it back. except for 1.7 million americans, mr. president, that's not the case. that's not how the system works for them. that includes 38,000 hardworking folks in my state of louisiana, but there are a lot more in other states as well. i'm talking about millions of teachers, police officers, firefighters, and a lot of other folks who earn modest pensions in service to their communities and they face little or no access to social security. here's what i'm talking about. i'm talking about a teacher who paid into the social security system. i'm talking about a teacher or firefighter or policeman who paid into their own retirement system. so they are rocking along, they are paying into basically two retirement systems, social security and the provides retirement system. they are doing the right thing, getting up

then, instead of paying an individual rate of 39 or this plan, 35. you pay 25. it's a dramatic huge trillion dollar tax break for the wealthiest. middle class people can't take advantage of this. senator wyden: let me tell you what's happened in the finance committee. we began pointing out the inequity of this pass-through provision months and months ago. we were told by the secretary of treasury that it would be corrected. it has been months since they said they would correct it. that was the first thing i looked at today. i said, well, they are doing something else. maybe, just maybe, they are going to honor the pledge that they made months ago to correct it. they still haven't, number one. number two, we just received testimony recently in the senate finance committee that it is very, very hard, if not impossible, to stop the rip-offs in the kind of proposal that they have, in effect, laid out once more today. senator schumer: the bottom line is, just about everything that the president, treasury secretary mnuchin, gary cohn is said is not ins this plan. they

he had to pay taxes. his friends who helped finance the business had to be paid a return on their investment. after these bills were paid, jonathan had to exchange his big dream for a little dream. >> madam and mademoiselle -- him to bring you hats with such style so chic and ooh la la! to the grande all opening. narrator: to meet up addition, jonathan had to plow part of his profits back into the business. if customers approved of the quality, style, and price of jonathan's new designs, he could still make his dreams come true. with the passing years, the strong foundation of freedoms protected the dignity of the individual and his family. it gave everyone the right to worship as he pleased, promised and driveh ability the opportunity to participate in the building of the american way of life as we know it today. a way of life that depends on millions of thrifty americans who send a portion of their savings to work in our business system each year. people from all walks of life, , housewives.men all of u

but, if that's the price we have to pay, we have to pay it.t's a great bill he has, i wish they stop doing the silly buzz-kills and irritants. stuart: the market seems to believe that, yes, we will get a tax cut and stimulative. on our screens we are showing futures going up about 20, 30 points adding onto last week's very large gains. investors seem to be seeing through this concentrating on, yes, he will get it done and, b, the tax cuts for corporations will help stimulate the economy. >> that's the big one, corporate tax rate reduction going from 35 to 20 is wonderful. i still wish it had gone to 15. that's the real stimulus to the economy. fantastic and creates basis future prosperity. stuart: i know you're not a stock market analyst but you have to analyze the stock market this morning, we are now at -- did you say no. >> no, i didn't. i said we have been talking about the stock market you and i for three or four years, if you notice and i don't know if you have checked your record, but i didn't -- i don't mean to haul rank on you, but i'

that's underey circumstances whe they find $4 billion in pay-fors pay-fors, probably unlikely. it will/medicare and medicaid by one point 5 billion it will set up the same partisan process that caused the republican effort on repeal and replace. when you try to do it with one party it's fraught with peril. he do it in a bipartisanin way u people on either sider can try o do the bill but they won't succeed if they don't have the votes. i remind my friends in the house who purport to be deficit hawks you are voting for a budget that will increase the deficit by $1.5 trillion. many of these house members particularly in the conservative wing of the caucus particularly those in the freedom caucus have spent their entire careers railing against the evils of the deficit. what a stunning hypocrisy it would need to abandon those principles today and vote for this budget simply because it gives tax cuts to the wealthiest of americans in the most powerful of our corporations. i would also remind my republican friends in the house particularly those in new york and new jersey, california

the line are going to they're not going to pay if you have to. sixty four thousand dollars a year income you're not going to spend twenty five thousand of that on insurance. i mean america's got a real problem you know we were on the reservation in the dakotas we said that story right off it here we've got an ambulance drivers who used to say they're not out there just clocking people over the head with billy clubs you know. in the hospital that well it's a good class you feel that we were room. to do not coarsely well anyway that's my final point on this i think we're going to be one of those people because i'm not going to pay twenty five hundred dollars a month for a policy that is just not going to give me anything in return and instead next year we're going to have reports from a different portion every single day of the month we're going to drive around going to be like that comedians and cars we're going to report in cars yeah for the same amount of money that we would have had in it because maybe if we get sick like we're always in the ca

coming out of my first pay check -- paycheck. i clearly remember my dad saying to me, don't let the taxes that you pay stop you from saving most of this money. because in america, not only do you get taxed when you earn it, you'll get taxed when you save it and if you save enough, you'll get taxed when you die. that was my immigrant father with a fifth grade education. he was a steel work. mr. speaker, -- he was a steel worker. mr. speaker, it's ined creditably sad in america -- it's incredibly sad in america when an entrepreneur will pay 50% of what he or she makes in taxes at the federal, state and local level. it's been 31 years since we reformed our outdated tax code. and now is the time, now is the time at this crossroads to change the direction of america for our kids and our grandkids. i urge a yes vote on this responsible budget to live within our menals. the chair: the gentleman yields ack the balance of his time. the gentlewoman from tennessee as 33 minutes remaining. the gentleman from tennessee has 33 -- the gentleman

aaa's dmv service is worth ten times the membership i pay to avoid the normal dmv.aa has a long and proud history. founded back when the horseless carriages first began to roll out onto america's roads, aaa has been helping motorists both on and off the road for more than 100 years. aaa's legendary roadside assistance operates a national network of over 9,000 service providers, ready to help you 24/7 with over 42,000 vehicles that respond to more than 30 million assistance calls every year. the best part of the job for me is getting the satisfaction that i've helped someone. it gives you a sense of relief knowing that they're okay. when i first pull up, the first thing i think about is how that person's doing. i want to make sure that they feel comfortable and safe that i'm there. it's a great feeling to repair a member's car and get it back on the road. (chris) being a aaa member, you get 10% off on labor, as well as a two-year, 24,000-mile warranty that gives you that peace of mind. very friendly, very efficient, um, always on time. they always follow up. they def

corporations don't pay that.rchasers, to their customers, and who buys a bigger percent or pays a bigger percentage of their income? it's the poor and the middle class, so they're the ones that are paying this. it's a straight pass through tax when you lowered the corporate tax, you're lowering the tariff we put on our goods. >> maria: congressman are you okay with this deduction being eliminated? are you going to vote yes? >> yes absolutely because warren buffet these billionaires never pay the estate tax. they have estate planning to get around it but my aunt lilly lost over 2000-acres of her estate. she was land rich and cash poor. the irs took every acre, they took everything and i was there for the estate sale. we all, the family bought what we could to try to keep things in the family. i've seen what the estate sale does to the middle class, to those that have spent a hundred years building farmland and they can't pay the taxes. >> maria: well he made that case as well. congressman good to see you sir thank

the taxpayer is kind of paying the bill. here is the ironic path. they cover all of this and even more. at 1.25% give tennessee reserves in the banking system right now the fed is paying roughly 30 billion annually. the interest rate that banks pay on their deposits, which comes out once every week, it's 4% on checking accounts and 6% on savings. let's call it 6% and let's put it on about 11.5 trillion. that's about 7 billion annually. deposit insurance premiums were a hair under 10 billion. so banks have 13 billion left over to cover regulatory costs. what does it actually cost to implement? nobody really knows the numbers. bloomberg did a piece on it earlier in the year. they have estimates that range between 2.9 billion. it was over many many years. once it is put in place the ongoing annual cost is a frank of that. so i don't know. call it 5 b. call it what you want. maybe chris or somebody has an idea. here we have them compensating. the desoz sit insurance premiums they have to pay every year and probably all of the regulatory costs. so taxpay

escuchaba de mis familiares que era un paÍs con leyes, un país con libertad y con igualdad para todoss. >> de don y cuando cruzamos la lÍnea y cuando despertÉ mi papÁ estaba ahÍ. para mí fue un gran shock. carolina: desde muy niÑa recuerda cÓmo se preparaban en caso de que detenciÓn los detuviera. >> los explicaron, si les para la policÍa ustedes se quedan callados. carolina: a la familia de justinotambiÉn le costÓ acostumbrarse a la idea de ser indocumentados. >> trabajÓ como costurera como en una tienda, se le hizo muy difÍcil al principio y trabajo mÁs de 60 horas cada semana. >> cuenta justino que todos esos sacrificios de su madre eran con la esperanza de que Él tuviera un futuro exitoso estudiando, pero escrÍbelos en la escuela no fue tan fÁcil. justino: le dijeran, no tenemos cupos para tus hijos. no hablan inglÉs, no tenemos cupones de escuela. carolina:una desconocida que dio a la madre de justino llorando fuera del colegio, se atreviÓ de ellos y decido matricularlos en otra escuela. justino: en este momento me di cuenta de la importancia de apoyarnos los unos a los otros. la

it is like paying a mortgage. of our budget. we are seeing we are paying bigger and figure premiums. because -- bigger and bigger premiums. because of the high deductibles, we are not getting anything back. dear still painful price for the doctors. drop out,f people incurring a penalty, but saying we cannot afford these plans anymore. it is one of the issues president talked about addressing last thursday in his executive order. he was reaching out to those people who do not get a government subsidy, connecticut coverage at work, the forgotten middle class. they work for small businesses. they need help. host: our viewers have been seeing a special line on their screen for those who get their insurance through the affordable care act. it is(202) 748-8003. we are talking with the former lieutenant governor of new york. betsy mccaughey will be with us for the next 15 to 20 minutes. we will have this conversation -- a question for you -- do you think those with pre-existing conditions should pay more for their insurance or pay the

however, they will pay more in co-pays and deductibles. the metric american people should use in determining cost of health care is not just premiums. it is out-of-pocket costs. co-pays, deductibles, and premiums for when they do get sick. many times, these different republican plant where they want to reduce premiums by eliminating these protections and allowing a health insurance company to basically sell you a policy.icy. -- a junk it requires them to pay out-of-pocket costs that the interest is not cover like mental health or maternity care or even their medicine. host: chris on the independent line. go ahead. caller: can you hear me ok? host: we can. go ahead. caller: i called back in 2009 when obamacare was being formed, and i spoke with congressman andrews. he was one of the architects of the obama care policy. we spoke about funding in particular. only into funding for the health care legislation, but funding for the entire federal government and things of that nature. admitted that if we did not do something to , then we could pot

they can't pay that.ents, 3% dividend yield, that gets you about a $22 stock where it is today. so in my mind, the messages are clear, the dividend cut is coming and your previous guest seems sort of undisturbed. if i'm a ge shareholder, i am kind of disturbing right now, must say. >> i'm disturbed i'm disturbed the grke -- >> this is jim looking concer concerned. >> there's a business that will continue to generate growth and build products people want in the market. >> haven't we been saying that for 16 years, though >> in its current 230rform. >> we value the faang stocks so highly here's a business we're upset because it's not making quite as much as we expected yet we have companies that have incredible valuations that lose billions and billions year after year that we love it doesn't quite make sense. that said, i think in the end, ge builds products people like and the stocks people are buying. >> we're going to go to the faang stocks hold on a second we introduce the topic. >> faang stocks lower f

what they can afford to pay.average increases in the national minimum wage so a lot of factors to take into account. what will encourage employers to be more generous with their pay rises?m will encourage employers to be more generous with their pay rises? it is about what they can afford to pay. if the business is doing well then they can afford to offer. the other key factor is if one employer increases by a higher amount then others will follow suit so the key thing that they will look at is what other industries are playing and what other employers are giving their employees. so a competitive market. there‘s lots of pay benchmarking going on. if they looked like losing a large section of their workforce then they will start increasing pay to make sure that doesn‘t happen. start increasing pay to make sure that doesn't happen. from an employee perspective if you find yourself needing a pay rise, what should they do? you can ask but if there isn‘t trade union membership that they used to have in those industrie

undocumented immigrants pay state and local taxes. they contribute to our businesses, and they are workers in our industries, and the -- they harvest our crops, and tend our farms. daca recipients will contribute or hundred $60 billion in the gdp over the next decade. my amendment calls for the passage of immigration reform. this amendment would decrease the budget deficit by $200 billion over a 10 year period. welcoming people to citizenship as presidents of both parties have done makes our country and our economy stronger. in our current climate, we are seeing young people threatened, who are american in every way except one. we are forcing them to leave the only home they have ever known. this amendment would acknowledge those people who are already our neighbors, so we can live up to our proud history as a nation of immigrants. his budget would address that. americans deserve a budget that is true to our history as a nation of immigrants. americans deserve a budget that fulfills government's essential functions like a public educa

you pay more.rate and phase out other deductions. >> the deductions will kill me. >> so you're going to pay more. >> no, if it is my duty as a citizen, i will do it. >> i don't think you really believe that. >> i don't think data no-no. >> because i've just broken the news to you, you are going to get out of here and kirsten scream. >> no i'm not. i own 14 dwellings and i use them all for various purposes. >> the rent amount. >> not at all. i don't rent them out because somebody smokes a guita a cigar, they might come in and run it. dead serious. >> you don't need it. >> i really need it desperately. i might need it eventually when you guys fire me oh wait i forgot, you don't pay me so nevermind. >> you don't need it. >> warren buffett is so much out of my league it's like comparing an octopus to us now. >> were both going to have to think about that for minutes. >> i think it will get some action, i hope and pray he gets it through and gets a greatly reduced. very good to see you. always great to

you are being taxed on paying a tax. number two, for states like new york and particularly my upstate colleagues, it chases away businesses. companies don't want to locate in a place where their top executives are going to pay a lot more because they can't deduct their taxes. and third, it lowers state income so that whether you use the state and local deduction or not, your school board, your old building, your police, your fire will be hurt as they will be hurt by creating a huge deficit. so compromise doesn't work here. and some of -- i have named some of my republican colleagues in new york. one of them got very mad yesterday. all i would say is this. in 1986, there was a democratic reform bill led by senator bradley and congressman gephardt. i had the same -- i have had the same conviction and with the same strength and velocity opposed them taking away state and local, even though they were of my own party. and we worked hard and succeeded. tax reform passed in 1986 with ronald reagan's blessing. i supported it. it

now versus pay later situation? >> yeah, and what it's designed to do is up the revenue take for the federal government now, again, to pay for the tax cut, that most analysts have said the benefits will accrue to the top 1%, the top 0.1%. this is not helpful to the middle class. there should be no cap on the amount of money you can save on a tax-deferred basis because we want to incentivize people to put money away for retirement giving the demographics of this country, and this will be a relatively large disincentive. >> what's the reaction on wall street to all of this? >> wall street gets a lot of money to manage when money goes into 401(k)s. it would reduce potentially the amount of money people put away. you can use a roth ira in which you put after-tax money in, and then you're not taxed on the back end when you take it out, but largely speaking, most workers who get matching contributions from their employers have been using the 401(k) to put money away on a tax-deferred basis and if they can max it out, they