, so what is rich? which americans are getting richer and making it in mark. the man who went from cleaning bathrooms in a bar to running a $60 million business. his story and more as real money continues. ç] >> the rich are getting richer. it wasn't much of a surprise when we learned that the gap between rich and poor is at the widest point than just before the stock market crash of 1929. this week we learned another starting statistic: the gap in employment rates between rich and poor is the largest, more than 21%, while the unemployment rate for those making $150,000 is just 3.2%. and in a cruel twist of irony, when we learned how rich the richest are, forbes has out its list of richest, more money than ever before, a combined 12th of $2 trillion. holding its spot as richest man in the united states, bill gates, and also the richest in the world, $72 billion. warren buffett has $58.5 billion, increased his net worth by $12.5 billion. number three on the list is larry ellison, they are all self-made,

the corporations and the rich. wow. i'm not describing the soviet union or some fantasy or some impossible dream. i'm just describing american history, and not so long ago, either. wow. just to drive it home, roosevelt--how did he actually do this? he was very courageous and clever. in the midst of world war ii, to make this point really strong, he proposed a novel income tax. here's how it would work. above a certain level--and the level in those years was $25,000 a year-- the income tax rate that would have to be paid is--president's proposal--100%. that's right. $25,000 a year would become a maximum income. you know how we have a minimum wage? this would be the maximum income, the other end. the republicans, predictably, went crazy. and they fought and they yelled, and they reached a compromise. and the compromise was that above the top, the highest rate, the richest americans would henceforth have to pay 94%. the law signed by the president. if you were rich in the 1940s, every dollar over the top limit, the highest

he's pitting the unattainably rich to the unimaginable rich. it's bad enough that billionaires are forced to go to separate schooled scoolz, fly on their own planes, and often end up behind bars. but now, some billionaires are being left behind. >> even if you have $1 billion, that is not enough to make it on the forbe 400 list. "forbes" is out this morning with its 32nd annual lift of the 400 wealthiest americans. this year the rich are getting richer. >> first of all, you need to have $1.3 billion. there were 61 billion arizona that weren't even rich enough to make the "forbes" 400 this year. >> stephen: i don't know who to feel worse for. those poor billionaires or "forbes" magazine who just lost subscribes of scribers purpose folks, i don't know what to say. it's a sad day to be a billionaire. you toil your whole life to build a meaningful legacy for your family, only to find out that billion dollars you earned was worthless. except for the money part. ( laughter ) that part's worth $1 billion. with that in meend, it's time to revisit my lu

focus with steve forbes, john tandy, rich unger, rich karlgaard, sabrina. some things?you get more taxes. the government is running so it you get less supply and less innovation. at the end of the day you get less longevity and more pain. in other countries it's higher taxes or less supply of healthcare. they can't get around it. >> david: rick, we had a solemn promise by the president selling this that the taxes would not go up. now, he admits, first, he violated that promise. this will hit people and their pockets. >> we had a solid promise that the president would not raise taxes on people earning less than $250 ,000. >> david: he said taxes would never go up. >> he didn't say that -- >> david: he did. he said it would pay for itself. taxes wouldn't go up. >> i don't know how he said taxes wouldn't go up when he imposed certain taxes by itself. i'll tell you where you are right. this is why you didn't elect the president. oh, wait. yes, they did. he raised taxes on people going in tanning booths. you pay taxes if you go to indoor tanning booth. he cut the deduction.

rich means--rich has always meant traditionally that you don't have to work. you can live well on, in the old days, on your land and estates. and i figure that today, if you want to live well, you need a net worth of $10 million, at least, and an annual income--and/or an annual income of $1 million. c-span: now living well includes some of the mentions you have in the book of bill gates owning a 40,000-square-foot home and somebody else had a 50,000-square-foot home. >> guest: i certainly don't--that's not--that--that is--that is a new category here, and that is the superrich. now the striking thing about the superrich is not just that the extravagance is stunning, but it is that these guys became so rich, so fast. i mean, it took rockefeller and carnegie a lifetime to become centimillionaries. meg whitman of ebay and steve case of america online and peter--joe ricketts of ameritrade became billionaires in less than five years. that is something that's never happened before. c-span: why did ted turner get up and walk off a set at a john stossel abc interview?

, but super dirty rich.s and caviar dreams when "street signs" returns. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutionizing power. supercharging turbines with advanced hardware and innovative software. using data predictively to help power entire cities. so the turbines of today... will power us all... into the future. ♪ >>> okay. . folks, street talk time. stories you need to know about. first of all, let's talk about nordstrom which is actually getting an up to an outperform. really not helping the stock at all. >> it's not. mccory raisin

rich and helps their kids become rich that is the message they make it like it is a party of the rich and big business but my goal and plan am not making an announcement on c-span but i have been a republican even as i am planning to run against harry reid in 2016. i think i will be tim i have no doubt and double-a-2 joint rand paul and the united states senate to bring back the constitution for this country to bring back what america was great. a limited government government, god, family, per sonal responsibility and not everyone can expect the $100,000 pension the rest of their life. it just doesn't work. what is in my book shows the snapshot of what it does not work portugal, greece, france, it aly, spain, they are all bang craft. they follow the obama model. why would we follow it? he said our taxes were too low at 35% that is wonderful for the rich but guess what? creases taxes are 40% and he took us there was the obamacare tax that means congratulations america we are high year the increase. doesn't work? increase is starving and homeless they are dumpster diving is that what w

so they wouldn't say penalized the riches they did in the 30s. they would say soak the rich. they did it through policies to try to bring the lower through social programs, to end poverty and flat from the top. in the 60s -- [inaudible] we have the counterculture. the entire consensus is zero now. it didn't work. there becomes a much more egocentric need-based culture that emerges in these folks don't want to have to pay for people that are not in their class. so there's a tax revolt in the wings. [inaudible] you have african middle-class living in a great numbers the 60s. so that changes. the center does not hold. you have youth culture and women beyond the idea of the values, represented by eisenhower. they vote for identity in different places. just the concept of the american middle class patriarchy basically starts to break up in the late 60s. as is his power from within, not from without. people start looking at other places. take effect. they don't want to be part of the middle-class. that's the establishment because the middle-class is representative. then you have th

you've got this nutrient-rich, chlorophyll-rich kale going in.ause the idea is you want to get as much juice as possible out of this stuff, especially like a mango. >> and even giving that to little kids too. >> you start giving this juice to the little ones. there it is, just feeding through nice and beautiful. now it's really green. it's actually quite thick. i can tell it's going to be nice and creamy as well. now this is quinton's kale juice like i said. i haven't tried it before so i'm going to drink it now. >> gorgeous. you're going to love it. >> actually you can taste the mango. you're absolutely right. it's the way to get kale in, get the goodness of it, but the sweetness. that's almost like a little genius recipe. congratulations on all you've achieved as a family, as a unit. and you continue to inspire so many little people as well now that you're not so little yourself. so the only way we can end this i guess is to, uh, is to say hail to kale. hail to kale. >> hail to kale. >> jason, what makes your juicer so special? >> well, my goal

rich has to learn how to take some chances. like cash in the bank like you do, and i don't like debt, but i also like growth. you know what concerns me about michael is that he doesn't know his numbers the way he should. all right, let's go to work. i'd like to go maybe make some ice cream, do that. >> let's do it. >> so educate me on something. once the ingredients are established... >> yes. >> they can be modified into frozen yogurt? they can be modified into soft serve? >> correct. >> it's all the base. >> it's important for mr. green tea to expand their flavors and products, because once people fall in love with the brand, we want to make sure that we have a flavor for everybody. there's two ways you can grow this business. you can grow it vertically, up and down, by developing new flavors, or you can grow it horizontally, by creating new brands and new ideas. i want to make sure that we hit all parts of the market from a 5-year-old to a 50-year-old. what i don't like about the business today is, i don't like that the whole

that is making them rich. pyongyang is not the only place people can engage in foreign business with companies. international trade show was held last month in hopes of attracting foreign investment. the government is relying on that continuing flow of cash to build up the economy. >>> delegates from around the world are meeting face to face to discuss and debate among several areas of concern. they gathered in new york for the u.n. general assembly. they already find discussions are focused on syria. delegates from 193 member nations will examine broad themes of development concerning women, youth, human rights. the secretary general says syria is the biggest challenge. >> we must look at not only chemical weapons but ongoing fightings, refugees issues, humanitarian issues. >> he outlined how rockets filled with nerve gas killed hundreds of civilians in damascus. he asked delegates to work together to end the con flichlkt. >>> tensions are escalating between turkey and syria. the border is getting more danger

who owns the assets the rich the billionaires you think warren brought her here to stop you think you are here to start i had a very good day yesterday ok right well stanley duncan miller of courses. show a rare ray of sunshine into this corrupt swamp of wall street and b.c. and financial media and he's pointing out the obvious that quantitative easing is a wealth transference mechanism and the people who get this wealth believe that they're the chosen people they believe that they're god's chosen bankers on earth that they have the some kind of rights above and beyond human rights to be given billions and billions of dollars because then their activities trickle down to the benefit of the of the unwashed those morons out there that they routinely stab in the back and that's they have a god complex well actually druckenmiller brings this up this notion of the trickle down and he's saying he sounes that the theory coming out from the academics at the fed is that it's going to trickle down he said i mean maybe this trickle down monetary policy that gives money to billionaires and hopefu

a rich husband now that's an idea. i don't have one of those either. >> yeah i think you need to get a rich husband, so that he can buy, whenever he says you diamond ring, no, you go "no i've seen a bukhara carpet, so i need to buy." >> that's right, forget the diamonds, get me a carpet. bukhara was always a bustling center of trade, but it was also a very holy city. there were over 250 madrassas, religious schools, like the one behind me, and minarets everywhere singing out the call to prayer, and there were so many mosques that you could go to a different one every day of the year. the most sacred of all bukhara's holy places is the 14th century shrine of naqshbandi, founder of central asia's most influential muslim sufi sect, and bukhara's unofficial patron saint. he was absolutely revered, and over time, all of the leaders, the khans, the emirs, they wanted to be buried here, near him. and today, his teachings are still very influential, and they're embodied in his philosophy, "heart to god, hands to work." apart f

melissa: rich, last word. only couple seconds left. >> peter knows as well as i, wal-mart is sitting on record cash reserves. they could easily afford to pay people and make a record profit like costco does. costco is wonderful example of an economy we can envision of a fair employer we can envision that also make as profit. melissa: then you should boycott -- >> that is different business model. melissa: we've got to go. you guys thank you for a lively and educated debate. >> thank you. melissa: we appreciate your time. good points on both sides. >>> next on "money," we've come a long way, baby. who says women can't have it all? burberry's female ceo, says, that's who! we have a all-star panel. buckle up. >>> who is saving money today? not only does he pay any bridge or tunnel tolls he gets to do it in style. more "money" straight ahead. of the ♪ ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutioning power. supercharging turbines with advanced hardware and innovative software. using data

let's go in focus with john tandy, rich unger, rich karlgaard, sebringna schaefer. elizabeth macdonald. rick are we becoming too dependent? >> this is a national tragedy for the blue collar employees. the core problem is we have a tax and regulatory structure punishing employers hiring blue collar workers. chevron is taxed at a federal and state combined rate of almost 44%. meanwhile, 30 miles away in silicon valley, google and apple with very few blue collar laborers, google is taxed at 10% combined and a it at 15%. there is a disparity right now that is great if you're a white collar skilled laborer in the economy but horrible if you're blue collar. i don't think the federal government rizes how it's punishing -- realize how it's punishing the companies. >> david: just before we started the program, you and i were talking about with were poor at one point and never would have thought about going to welfare. now middle class kids are doing this. >> the real question is in the question asked. yes, more people are going back to work. yes, food stamps are at an all-ti

limited partnership of investors the limited partnership being the banks on wall street and a few rich guys that uses high risk methods such as investing with borrowed money in hopes of realizing large capital gains right wont the fed is leverage fifty think now it's close to sixty to one same thing with deutsche bank in germany and they have a portfolio of bonds and those bonds because the economy in america is not adequate enough to pay the coupon or interest rate on those bonds the fed itself has to buy its own bonds or the treasuries bonds and they do this by creating their own money and they go into this vicious cycle and you point out that while warren buffett was saying that oh the fed. reserve is the most successful had fought in history yes congress voted to cut back on the food stamp program so the food stamps for wall street which is quantitative easing has been kept in place and i predict as many have that the eighty five dollars eighty five billion dollar a month. quantitative easing will be increased food stamps were curtailed and of course. the hedge fund that is run by

the second is the republican party is anyone who ever hopes to be rich or hopes their kids become rich. that is the message they don't give that message they may get like that party of the rich i cannot tell you it will happen but i have said ibm planning to run for the united states senate against terry reed i think i will be tim i have no doubt that i will i hope to join in rand paul to bring back the constitution, what made america great with personal responsibility and a whole school children not every ready can work for government and expect $100,000 pension the rest of their life it doesn't work. what is in my book shows the snapshot why portugal, greece, france, it aly, spain, they're all bankrupt why would we follow that model? obama said taxes were too low at 35 percent that is wonderful for the rich but greece tax has 40% of obama has 3.8% obamacare tax that means congratulations america we have a higher tax the increase. doesn't work? ask them they are starving and homeless he did dumpster diving. is that what we want that is where obama is taking us. >> host: you were the v

rich people or poor people? some surprising new statistics you probably won't hear about in the mainstream media. that's next. ccccccccc >>> 2008 soon-to-be president barack obama promised to fundamentally transform america. and as promised, he's overseen the largest redistribution of american wealth in american history, entitlement programs have exploded. welfare, food stamps, obama phones and more. yet poverty in america sits at a decades-high 15.9%. in fact, under president o. the rich have gotten richer and the middle class is now home to the fastest growing sector of the economy when it comes to poverty. but remember the class warfare lectures he delivered ad nauseam? >> top-down economics never works. the country doesn't succeed when only the rich get richer. we succeed when the middle class gets bigger. when more people have a chance to get ahead. more people have a chance to live up to their god-given potential. >> obama-nomics has failed, folks, has failed the middle class. check out these numb

to mayor lee and his team in particular ken rich. enough cannot be said about ken's leadership and really quarterbacking this project throughout the process. and to all of the leadership, to president chiu, supervisor campos, and all the board members that helped during this process. it was truly a team effort. and i also want to take a moment to thank the members in district 2 where two of the existing cpmc hospitals are being housed right now in the california campus and pacific campus. and across the street will be from district 2 will be the new cathedral campus. and to all the neighborhood groups in district 2 who came together to work with cpmc, to work with my office, to work with the mayor's team, to make sure that all the neighborhood needs were met, to make sure that as we build these hospitals we build them in a way that makes sense for our neighborhoods. but in particular, in a way that we can deliver that health care into the next century for san francisco and really make sure that we continue to be at the forefront of h

rich people or poor people?rising new statistics you probably won't hear about in the mainstream media. that's next. [ male announcer ] these days, a small business can save by sharing. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪ at& license and registrationss. please. what's this? uhh, it's my geico insurance id card, sir. it's digital, uh, pretty cool right? maybe. you know why i pulled you over today? because i'm a pig driving a convertible? tail light's out.. fix it. digital insurance id cards. just a click away with the geico mobile app. >>>

rich people or poor people? some surprising new statistics you probably won't hear about from the main street media any last requests mr. baldwin? do you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps, and...it's taken care of. this is pretty easy, and i see it works on hotels too. you bet. now if you like that, press the red button on top. ♪ how did he not see that coming? what's in your wallet? your modefy gravity.ything. how did he not see that coming? find hidden treasure. make rainbows appear. now she could use a hand, so she can keep living on her own. comfort keepers can help you help her. our professional caregivers are carefully chosen and highly trained to provide a variety of in-home services while truly engaging with your aging loved ones so they can stay happy at home. comfort keepers. keeping the comfort

so level with me, rich. is it true?olonel, i wasn't supposed to tell you this, because you're not an owner yet, but you've already been hand-picked by o'kelly to join his el presidente circle. it's an elite group of owners. very exclusive. you'd have a condo on el presidente island. use of o'kelly's helicopter, humidor privileges, oh... you'll receive your own el presidente medal of achievement. it all happens aboard o'kelly's yacht tomorrow night-- assuming you decide to stay. hand-picked, eh? yeah, i could chew that over. uh... your friend. i don't know how to put this. o'kelly's yacht may be big, but there's not always room on it for everyone. fatty! sir, yes, sir! i'm done with you. get packin'. yeah, but... sir, please swim to the shallow end. dad! dad! sir, please stop that. ( playing mariachi music ) ( sobbing ) bill? your dad doesn't need me anymore. he dumped me for o'kelly. bill, i've only got a couple of hours to get my dad out of this deal, and i can't do it alone. i need you. ( playing festive music ) rich:

rich manhattan moms said that's "how the one- percent does disney." now because those guests abused the system, disney will no longer usher disabled people to the front of the lines. a spooky statistic for retailers... the national retail federation says americans will spend less on halloween this year. the survey shows that people who celebrate the holiday are expected to spend 75 dollars on costumes, decorations and candy. that's down from the approximately 80 bucks the average american spent last year. still... the survey shows more than seven in ten halloween participants will hand out candy, which will bring in more than two billion dollars in sales. if you're looking to make some extra holiday cash... walmart is hiring seasonal workers right now. the world's largest retailer said that it is bringing on 55- thousand workers to handle the christmas rush this year, up from 50- thousand last year. with more than four-thousand locations across the country, that averages out to about 13 more workers per store. this news comes as another major retailer

of the great depression ending it and thereby opening the way to the kinds of growing gap between rich and poor that have landed us in this crisis today so i think it's important to remember it but it was a remembrance of a step that took us down a very bad road richard i'm still waiting it for waiting for it to trickle down to us. and always everybody else i mean every statistic every statistic that the economic system generates shows us that the gap between rich and poor has grown literally wider interrupted lee since the early one nine hundred eighty s. which is when that bill was passed so there's no question that even if you like that bill it didn't prevent the inequality from worsening and if you don't like it as i don't then you see it as having contributed most obviously in cutting the taxes on the rich that was the whole mark of that bill. what we've learned is that the rich hoard their wealth they don't necessarily put it back in the economy not a trickle down to the rest of us and of course i have to mention that in a decade following the policy the national debt almost trip

rich little.rich, i grew up watching you. >> so did i. >> sometimes outside your house. no, i love the roasts. everybody there was part of your life in the 70s growing up. paul lind, i idolized paul lind. >> well, paul, you know, he was funny. on "hollywood squares" he made" hollywood squares" you know. anybody larger than life was easy to imitate. >> and he was such -- he was such a heterosexual kind of guy. >> that's one way to put it. >> i imagine he got along really well with the ladies. i'm pretty sure. >> oh yeah. have i to do my fox news joke. >> okay. >> juan williams, he is a pilot. yesterday he was seen buzzing the capital building -- the capitol building while congress was in session. the headline on usa today this morning read, juan flew over the cuckoo's nest. >> well done. >> that's my sphoks news joke. on -- that's my fox news joke. >> that will go down as one of the oddest jokes. >> who has a name of juan except juan? he was juan of a kind. >> the people you rosed, ronald reagan, j

rich edson has the details. rich: a number of republicans are having major problems with this.r of them want in exchange for funding the government. what house leadership came up with, we could still fund the government. it seems like it may be coming up short right now. the plan is to possibly vote on this as early as tomorrow. they are still trying to figure out where they are in all of this. lori: it all comes down to this fight over obamacare. the government could shut down over it. it is unbelievable. kids for holiday shopping. only 104 days left until christmas. kmart has already started airing holiday ads. take a listen. ♪ >> do not let the holidays sneak up on you. shop early with kmart free layaway. dennis: people feel like i do not want the pressure of having to shop already. lori: people are offended? >> they kind of subbed out santa for the gingerbread man. first of all, kmart's first site is in rebellion. i have one third of the year. i think i am safe. lori: this is an ad for layaway. the layaway plan. you actually have to start now if you are going to use the lay

money and politics there is no larger concern than the clintons who are cosseted in a world where rich people and leslie scratched the backs of rich people so bill clinton last year earned seventeen million dollars including to lagos lagos company where he spoke for seven hundred thousand dollars speaking fee hillary clinton is currently receiving two hundred thousand dollars per speech and between two thousand and one and two thousand and thirteen since leaving office bill clinton has received one hundred six million dollars from the speaking fees and his book but al gore five hundred million dollars leaving office bill clinton now worth one hundred million dollars leaving office tony blair leaving office making millions and millions of dollars if you're prime minister or president is something to put on your resume barack obama will make a hundred million dollars when he leaves office to be the president is no longer the top job it's just something to put on your resume as you head toward consulting with a major bank and bill clinton by the way i believe was voted into the black hole

which why tax the rich. and we've had marginal tax rates on rich people in previous history. you do not see down sides in terms of overall growth or anything like that. raising taxes on the very rich should an key priority. i want to say one other thing in response to edward. i think he's right, but i think we've got two problems that are separable. in the longer run we have ever-rising inequality which began roughly in the late 1970s. i think that's the result of all sorts of policy changes towards the very well off. we have minimum wage. we didn't run unemployment rates low enough to give people bargaining power. we allowed employers to not allow their willing workers to unionize. you can change a lot of those things without changing a lot of tax money. we should. and we should restore some of that bargaining power. we entered economic crisis. we still have not recovered from it. to solve that problem. the problem of having not recovered fully from the great recession. for that we need spending. the problem with th now is, we d spending to address the longer run of inequali