>> tax the rich. >> john: tax the rich?but you can't tax them enough to in the unfunded liabilities. >> taxation isn't the only way to go. >> john: we are in agreement. if you took all the rich people's money it wouldn't be enough. >> i wouldn't propose that. but if we raise the social security age. >> let's raise the retirement age, they get yelled at? >> it's the most popular thing to do but ultimately, i think we agree you can't just tax. you have to do something else. >> john: raise the retirement age, solves it? >> it doesn't solve it it prolongs the problem. all these things are a form of debt repudiation by the government. it's the government saying we made you a promise or we treated as a promise. you believed it was a promise. it was not a promise, it was not good. it was not sound. >> john: i guess this might. it was previous politicians that did that. >> are you actually saying social security as an idea is fundamentally wrong? >> sure. >> explain why it's wrong? >> in the words of margaret thatcher, problem were

>> tax the rich. >> john: tax the rich?tax them enough to in the unfunded liabilities. >> taxation isn't the only way to go. >> john: we are in agreement. if you took all the rich people's money it wouldn't be enough. >> i wouldn't propose that. but if we raise the social security age. >> let's raise the retirement age, they get yelled at? >> it's the most popular thing to do but ultimately, i think we agree you can't just tax. you have to do something else. >> john: raise the retirement age, solves it? >> it doesn't solve it it prolongs the problem. all these things are a form of debt repudiation by the government. it's the government saying we made you a promise or we treated as a promise. you believed it was a promise. it was not a promise, it was not good. it was not sound. >> john: i guess this might. it was previous politicians that did that. >> are you actually saying social security as an idea is fundamentally wrong? >> sure. >> explain why it's wrong? >> in the words of margaret thatcher, problem were socialism you

people who want to be rich can still want to tax the rich until they get rich, and then they don't want to be taxed. taxing capital gains is taxing the same money and that is not fair. >> that's your money you already got after you were tax. >> it came from your paycheck and it was taxed. >> it was a small amount of money you invested. >> i'm glad you feel it can be taxed twice. >> it was taxed once. if you are a trust fund kid you have not paid that tax. your father is get -- has paid for that. there should be a differ wren differentiation. >> mr. rich guy let's demonize him. >> the trust fund kid. >> he is not a trust fund kid. he gave away all of his money. >> so he didn't get money from his dad? >> he did, but he gave it to charity. >> i like when you get angry. little veins come out. >> somebody has to be out there and talk and defend the rich because they don't. they are too busy making money. >>> so -- >> i love the rich. >> there you go. >> i saw you buy that on the street. >> just to let everybody know at 4:00 a.m. our studio is on 6th avenue if you are looking for a ouch what.

benefits from having a class of rich people or not? 63% say yes, rich folks are okay. but 34% of americans believe the opposite. however, when you break it down by party, 46% of democrats believe wealthy americans provide no benefit to the country whatsoever. now, i take that very personally because i, your humble correspondent, against all odds have become a rich guy. and here is exactly what i do for my country. i pay all my taxes. i have no offshore accounts and everything the government wants my accountant swiftie, is under orders to pay. my foundation named after my parents gives away millions of dollars to the poor, to military families in need, and to fight disease worldwide. i employ dozens of people, bill o'reilly.com is my small business. in addition, because the factor is successful, people are hired by the news corporation to work on the program. also, bowers i work very hard, i employ people in my house and to do other things that i can't do. recently, i thought about retiring, but i added it up and more than 60 people would have lost their jobs had i pack

people are off limits because those rich people who our economy must depend on to create jobs that's at least how the story goes that's why most of the austerity in europe and here in the u.s. has been directed toward working people and not rich people we can't hurt the so called job creators after all right in the united states this theory has been a practice since reagan rolled it out in one nine hundred eighty s. social welfare programs investments and jobs in the middle class have been dismantled at the same time tax rates for the very very rich have been radically slashed as a result were staring down wealth inequality levels not seen since before the stock market crash of one nine hundred twenty nine and we're stuck in the middle of a jobless recovery since working people no longer have enough money in their pockets to go shopping and stimulate the economy so isn't it time to ditch this bizarre economic philosophy that only the rich can save the middle class joining me now is one of those very rich people who republicans say we're supposed to rely on they can our venture capita

benefits from having a class of rich people or not? 63% say yes, rich folks are okay. but 34% of americans believe the opposite. however, when you break it down by party, 46% of democrats believe wealthy americans provide no benefit to the country whatsoever. now, i take that very personally because i, your humble correspondent, against all odds have become a rich guy. and here is exactly what i do for my country. i pay all my taxes. i have no offshore accounts and everything the government wants my accountant swiftie, is under orders to pay. my foundation named after my parents gives away millions of dollars to the poor, to military families in need, and to fight disease worldwide. i employ dozens of people, bill o'reilly.com is my small business. in addition, because the factor is successful, people are hired by the news corporation to work on the program. also, bowers i work very hard, i employ people in my house and to do other things that i can't do. recently, i thought about retiring, but i added it up and more than 60 people would have lost their jobs had i pack

going back to rich's point. one of the problems is that they have all of the cash on the balance sheet that they are not reinvesting because interest rates is so loww. it is earning one percent. if it funneled back to plant and equipment it would be unemployment far before 8 percent. >> rick unger taking up all of these points. you are holding up one side . taking all in account how do you respond. >> i am going to awarted one point to vick toria in the damage to senior. that is an excellent point. steve, the roaring '90s under clinton happened in the first term and he did not lower the capitol gains taxes until the second year in the second term when a republican congress forced him to do it. he did it begrudging. >> it is like the soviet arguing history. the economy slowed down when he put tax increase and not enough to help george bush. and company started to roar . clinton put the tax increases in and we go in a recession nearly. he slowed the recovery down and 95 and 96 it got back on track again. >> emac.

you have been pounding the tax the rich drum.side of you and me there is nobody in this room that is rich. >> i don't know what you were drinking at that memorial day picnic. the punch must have got to you. i'm amazed to turn on this program and see you saying outright there are a lot of people on the right who don't challenge this entitlement thinking mentality. the passage of that -- it's true. you ever hear anybody say it. directed at instead of saying drug benefit that's the truth. anyway. you are dodging the issue here. president obama has been quite clear and he tries to sell way we're going to bring the deficit down. the way we are going to fund the massive tax the rich. there aren't enough even a scintilla of difference, juan. the numbers aren't there. well, mr. owe o'reilly you and i are in agreement if that's the argument. >> bill: obviously that's the argument. >> that's not the argument. >> bill: of course it is. how many times you have heard him say it? how many times did he actually say it to you, juan? >> the syste

conservatives choose being rich even when they could be both numerous right wing web sites of praise of aaron's decision all assuming he did it because the taxes and even the heritage foundation's mike brownfield tacitly endorse the decision writing a billionaire like severe and can afford to flee for greener pastures but the rest of america isn't so lucky. the cato institute also came out in support of severe with columnist dan mitchell criticizing about american tax policy rather than bad patriotism he writes there's also a lot of evidence taxpayers' escape the country is controlled by politicians who get too greedy mistress of aaron is just the latest example and the pro one percent right leaning forbes magazine published an article calling severe and an american hero and columnist john tami warns that other romney level super rich americans will do the same thing writing assuming noons bullied words of taxation or a driver's variance decision politicians will hopefully see that it too greedy about collecting the money of all others will eventually collect nothing maybe tammy does

but i agree with that statement i think that if tax cuts for the rich expire i think that will have a very very minimal effect on on consumption which is what drives the economy and provides desperately needed revenue for either retiring we're continuing to invest in the middle and the bottom and you know that you know that's the essence of what we need right now it should be said that you know the opposite of austerity is your responsibility and that's bad too right we can't run our government in an irresponsible way we have to get medicare medicaid under control but austerity now to meet makes no economic sense that he would sit out timing you know because there are some there are some other people out there if you want to talk about former president bill clinton if you want to talk about federal reserve chairman ben bernanke they have all kind of hinted at the same thing which even the c b o report here is saying is that you need to get your fiscal house in order eventually but you just can't do it now you should wait until the economy has had a good run right until we've seen cons

it is not rich, but it is super rich. if the government took 95% he would still have $50 million or $20 million. what he is doing is punishing people who actually are well off , but mott like him. but not like him. he says let them eat cake because i can afford cake. >> i think these guys when they get that rich there is something that happens to the mathematics in their brain and they can't do the numbers anymore. they seem to think that there is this magical -- i think they think the debt is $4 billion and it is a matter of a bit of charity and there is some assumption of a valid debt. if we ban together we could get that done and we would be good. but it is like a shop uh hole lick going to -- a shop uh hole lick saying you could payoff my credit cards with one snap of the fingers and he said i won't do that. i know what will happen tomorrow. your credit cards are all cut up. >> at one point that makes perfect sense and then you go to the ows benefit. >> i just want -- i am light bright bart. breitbart he said -- well

a grand mansion on the peninsula with a rich history and rich is what you'll need to get nchl it's the carolyn chateau. it's a sprawling hillsboro mansion owned by kbrinl yair investor charles bartlet johnson and his wife, heirs to the templeton-franklin fortune. mark, quite a spread, raising eye brows. >> yes. we were expecting protestors. we're told they're going to be here about 5:30 but that is them down there mixed with people who have come to see mitt romney this, is the chateau. back lit but impressive. and there is impressive, you should see the guest list. condoleezza rice expected to endorse mitt romney here tonight. ronald reagan's secretary of state is on the guest list. meg whitman one time-republican candidate for governor, now, the head of hewlett-packard is a campaign co-chair as is pete wilson. >> the house where event is being thrown by itself was built in 1913. there are 95 rooms, and largest enclosed atrium in the united states. there was a documentary on the house this, is a bit of the production. >> some people say there is a curse on this house. it's said there h

there was no sense of he is rich, they are rich. so they must have done something to us.we must feel this sense of jealousy or envy toward them. the difference today is and what joe biden is purposefully ignoring, what they are doing is he they're creating envy where there need not be any envy or they are attempting to create this jealousy or this animosity where there really shouldn't be. as we see tomorrow in silicone valley, "l.a. times" has a big piece about this, the new millionaires la wanted new facebook shareholders are able to sell their stock. there is this new wave of prosperity. silicone valley and san francisco because all these kids ended up going to work for facebook. they ended up putting in a lot of time. some of it was luck. some of it was hard work. the bottom line is they have become very wealthy and they are already spending the money. >> bill: here is what i don't get. biden is in ohio and he is telling people the folks, all right, that the rich people don't get us. though don't get us. president obama is with george clooney. did he walk into clooney

many of his compositions, react to the sensuous color, and perceive the touch of the artist in the rich brushwork. the painngs themselves came alive. in this program, we'll try to recreate the experience of the exhibition itself, moving through the various phases of van dyck's career and discovering his magnificent art. van dyck's earliest family portrait sets the stage for our look at the artist's life and work. itas painted in 1619 in anerp, when v dyck was only about 20 yearsld. in this close-knit group, we sense intimacy and informality. the child looks up at h father, who leans protectively toward his young wife and daughter. this deep sympathy for families would be one of van dyck's great contributions to the art of portraiture. in 1609, when van dyck was only 10 years old, he apprenticed with a painter in his native city of antwerp in the southern netherlands. by the time he was 16, his skill and talent allowed him to join the workshop of the leading artist of the day, peter paul rubens. rubens' complex compositions, such as these with their sculpturally modeled figures, greatly

the rich stay rich and the poor stay poor, and about two thirds of those born in the top 20% stay within that top 40%. about the same percentage of those born in the bottom 40% stay in the bottom 40%. the job of the president is to look at problems like this and fix it, not make it worse by making rich people richer. >> if your main argument for how to grow the economy is i knew how to -- make a lot of money for investors -- then you're missing what this job is about. it doesn't -- it doesn't mean you weren't good at private equity. but that's not what i job is as president. >> joining me now is ed rendell, now an msnbc political analyst, and michael steele. >> governor, let me start with you, is the president making the right case for the relevance of bain capital in this campaign? >> yes, governor romney has made his experience at bain capital a central point why he thinks he should be president. it's only fair as a full exam fair of what they did and didn't do for the people. governor romney said that bain produced about 10,000 net jobs. and now that figure is up to 100,000. it's prob

the gravitational pull of the rich become stronger when the rich are richer.ssible. make the reason republicans will not fix the economy and congress can't fix the economy is because they think that fixing the economy would not help the richest people in the country and that's who's interests they feel they must serve. boing. joining us now for the interview is mr. paul krugman. he's a columnist for the new york times and his book is called "end this depression." >> glad to be on. >> why is income inequality a big gap correlated with economic catastrophe? >> when the economy is bad, the people with the least power who can't protect themselves. the most vulnerable get hurt. that's why the gab widens. the other thing is a polarized political system, a system in which one party has been pulled way off to the right is not able to cope with the difficulties of the economy. we know how to fix. a lot of people have managed to fix. admitting the government is fix a depression is admitting the government can do good things. you might think maybe we have to tax rich peo

there was no sense of he is rich, they are rich. so they must have done something to us.we must feel this sense of jealousy or envy toward them. the difference today is and what joe biden is purposefully ignoring, what they are doing is he they're creating envy where there need not be any envy or they are attempting to create this jealousy or this animosity where there really shouldn't be. as we see tomorrow in silicone valley, "l.a. times" has a big piece about this, the new millionaires la wanted new facebook shareholders are able to sell their stock. there is this new wave of prosperity. silicone valley and san francisco because all these kids ended up going to work for facebook. they ended up putting in a lot of time. some of it was luck. some of it was hard work. the bottom line is they have become very wealthy and they are already spending the money. >> bill: here is what i don't get. biden is in ohio and he is telling people the folks, all right, that the rich people don't get us. though don't get us. president obama is with george clooney. did he walk into clooney

only rich peaople. >> people talk about taxing the rich.on't tax the business person that makes 250 to $400,000 more. don't raise the taxes because they can't afford the accountants and tax lawyers to make sure their small business continues to grow and hire other people. >> the romney campaign, by the way, responded to what the vice president was saying. the attacks on the former governor's career at bayne capital saying in part, quote, president obama can't come close to matching the many years of experience that mitt romney has as a private businessman so he has chosen to attack the free market. millions across this country are struggling and deserving a leader who understands how the economy works. >> again, for some reason that message works with barack obama. >> yeah. >> a guy who is a law professor and everything. so if he says that about barack obama, you're right, you're right. when joe biden says -- it shouldn't be the case, because you look at barack obama and his grandparents raised him in hawaii. very middle class upbringing. f

the rich have been paying a smaller and smaller portion of the total tax bill, even though the rich areme a larger and larger portion of total income. again, nobody is talking confiscato confiscatory. this just a question fundamentally about what is fair. >> but all respect to robert reich, tj, isn't buffett really talking about the capital gains tax? isn't the capital gains tax the ultimate task on risk and entrepreneurship? and why does a guy like buffett want to see that capital gains tax, which he doesn't pay because most of his gains are unrealized. he sends all his money to charity. why wouldn't he want other people to be forced to pay that? >> i can't explain how he thinks. i do know he's tight with the administration. i know he'll sing the party line for them. but i'd like to go back to the tax rate for a minute. you know, first of all, the buffett rule is never going to happen. i'll just tell you that's pipe dream. it's something they can talk about. but the fact is we had a 33% rule that would effectively raise the capital gains tax from 15% to 33%. it would more than double t

to be rich. mitt romney is doing fine, he's doing fine. nobody is saying that's the wrong thing. the economy is going to be in a better place, the underlying point is that the american people are hopeful and you have mitt romney in iowa and a place where unemployment is the lowest that it is in the country. so he has a tough road to ho, especially where they are doing better than -- >> before i let you go, i want to revisit your analogy in your opening answer here. you're not suggesting that anything that happened with the steel company in missouri was criminal. why compare mitt romney and what he did at bairn capital to don dillinger. >> in fact, what most americans think th think is that the rules are rigged against them. the problem is that he didn't break any rules. and that everything that he did was perfectly legal. but the question is whether or not him operating in a perfectly legal way would be making him. >> thank you. >> thank you, andrea. >>> what will ron paul's role be at the conven

and so rich, why is it good that jobless benefits are expiring? >> when a democratic president clinton ended welfare in the 90s. it was good for recipients and people learned how to get up go to job. it is call would tough love . u would like to have a four percent growth economy to end jobless benefits, but we don't have that and it is not going to happen under the jobless administration. >> it is tough medicine but in the end it is for the good. >> look, i mean, we are all happy that there is jobs opening up this is a reflection on the good work done by the administration. what does concern me is the people out there saying, now the people who are cruising on unemployment are forced to go and get a job. >> average check to someone on unemployment is south of $300 a week. there are people who are watching the show who are trying to support a family on less than $300 a week f. you done think they are not trying to find anything, you are not honest. they want jobs all along. it is not like you are overly trained you can walk in and get a job in mcd

but in class encounter, where the rich save the poor and the poor save the rich. mentioned something in the early book this is something unique, unrepeatable and transcendent about humans, and that is that the right to liberty be respected as well as the freedom, i guess, to make what you will of yourself with the god given talents you have. but some take advantage of that, don't they? do you address those? >>guest: they do. they do. and there is a moral judgment on people who take advantage of others who are selfish, who are greedy, but greed is not the monopoly of capitalists. i am sorry there is greed if the church. agreed is not a thing about material stuff. it is about status. and the kind of prestige that people want. >>neil: isn't that what the occupiers are railing against? the term -- material fortunes and their good luck at protesters' bad luck? >>guest: the wall street occupiers are on the wrong street. they have a good point about bailouts and things like that but they need to be in the nation's capitol not on wall street. because it is the politics th

really, really rich. it seems the rich are country hopping. rich russians moving to london.icans moving to singapore. who's doing what and why? cnbc's wealth editor robert frank is here with some answers. robert? >> thank you, tyler. yes, the super rich are on the move like never before. i decided to take a look at the new migration patterns of the ultra wealthy to see where they're leaving and where they're heading. one of the first places you mentioned was singapore to the united states. remember, eduardo savarin, facebook billionaire packed up his wealth and moved to singapore given attractive rates there. other foreigners are following. more than 40% of singapore's population is now foreign born. if we move on, the wealthy french are also headed for the exits. we know the recent presidential election there saw francois hollande proposing a 75% tax on the ultra wealthy french. many are moving to switzerland, a short hop across the border but a big tax break if they can get it. it's not just taxes that are drooiing out the rich. it's also political instability that is driv

my mother and father dreamed as much as any rich guy dreams. they don't get us. they don't get who we are. >> let me bring in our political panel, jimmy williams and associate editor and columnist for the hill a.b. stoddard. this is what the president was referring to on the view, the passion that vice president biden, the connection, that he is able to bring. what's your take on those remarks in ohio? >> i think they're pretty risky, tamron. i understand what he is doing. he is trying to energize would-be supporters who would not vote for mitt romney anyway but may be disappointed with the president's first couple of years with some of his policies and the state of the economy and may not be really excited about this upcoming election and i know that he speaks effectively to those people and you could hear it in the crowd. it is very risky because so many persuadable voters that they're trying to win over in order to make it over the top and be reelected in the fall are turned off by this type of i don't know if you want to call it class warfare or this pop lich