robert frank was really influenced by walker evans. we see frank have his flatness, as well as the self reflective ideas about photography. we are china argue that ev -- trying to argue that evans and frank are showing us about photography. intentional an utterance, not a factual truth. far?at clear so robert frank worked between the ideas of walker evans. but also between the family man -- "the family man." he is also interested in ideas of photojournalism. robert frank described it simply, as china make art photographs that look like press photographs or photographs inspired by popular photojournalism. you can see that here. robert frank's biography is important to his worldview. he was born and raised in switzerland. he has lived out world war ii there as a young man. as a young man that grew up jewish in switzerland he is petrified of the nazis attacking switzerland to have this dread from his young adult life. he is able to move to the u.s. in 1947. he was a freelance photographer. he kept trying to get his pictures into "life" mag

>> robert frank takes a look f >> on the campaign trail, democrdaic cans are citing the 1950s and '60s as the golden e of taxing the rich, ratesre s high as 70 to 90%. julian castro saying, there was a time in this country when the p marginal tax rate was over 90%. it was around 50%. what those candidates are not saying, is that the taxes actually paid by the wealthy were much lower, and they haven't changed much in over 50 years. and now, top onists, led by thomas pickety. look at the amount of federal, state and local taxes relative to their in 1960, when the top rate was 91%. the 1%ers paid 42% of their income in taxes. that rate fell during the 1970s and early '80s, and started rising again.to y the top 1% pay a rate of around. %. it's onl 5 or 6 percentage points less than the0s 1 why did the rich pay so much less than the official tax te. those t rates only apply to a small group, less than 10,000 households made enough to pay at 91% in the 1960s. much of the income also came from capital gains and investments, which were always taxed at lower rates. as they always do, thelt wea

for "nightly business report," i'm robert frank. >>> here's a good stat for tax day. according to bespoket stock ma returns in the one and two weeks following the st a better than average when compared to orier s. that might help ease some of the sting if you owe the government money this year. >>> before we go, the final numbers on wall street, the dow down 27 points, the nasdaq felf. that is "nighpoy business " for tonight. i'm sue herera. thanks for joing us. we'll see you tomorrow. >> this is "bbc world news america." >> funding of this presentation is made possible by the freeman foundation, and judy and peter blum-kovler foundaon, pursuing solutions for america's neglected needs. >> wow, that is unbelievable. ♪ >> i'm flying! ♪ >> stay curious. ♪

for nightly business report, i'm robert frank. >>> boeing's report has declined in deliveries and that'se begin tonight's market focus. total deliveries were nearly halved in the first quarter foowing the popular 737 max jet. net orders fl to 95 from 180 a year earlier. there were no new 737 max orders during the month of march. boeing sharesell about 1.5% to 369.04. the grounding of the 737 max jet is one of the reason yes american airlines trimmed its firstuarter revenue forecast. the grounding forced the airline to danzell hundreds of flights. the key revenue metric will now be flat to up 1% and it calls for 2% growth. shares fell more than 1.5% to $33.31. levi strauss reported a 7% rise in quarterly revenue. the ceo described growth at the company broad based. since this was the jeansmaker's first report sinceoing public, there were no estimate available. he stock rose in initial after-hours trading afterg closinhe regular session at $21.88. there have been a l of rumblings about regulating big tech companies. today a senate bill was introduced that takes aim at social media firms an

at cornell university's johnson school of management we call you the other robert frank around here.you both. it's great to have you orin, what do you think is going on with the workism trend? >> i think as a culture, we've really started to define work and what you do as a job as sort of where you're supposed to find meaning and fulfillment and how you make a difference in the world. for some people. when we talk about these milleni millenials, the college educated segment of the population who have heard the commencement addresses and have put work front and center in their lives, frankly, at the expense of everything else. >> so it's a positive thing, right, that people find meaning through their work, that it's part of the social fabric of society. in a way, are people working when they don't have to? in the sense okay, if we say look, you're productive for just maybe half of the hours that you're in the workplace or the employers requiring you to be there, what is this hustle culture about? >> people get fulfillment out of their work and passion if you found your passion and wan

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maxwell, the sherman fairchild professor at new york university institutes of fine arts and our own robert franke as well. two roberts, so i'll try not to confuse either one of you and most especially not myself let me begin with you. we should not be surprised some of france's most prominent businessmen and women have pledged nearly how much money? who are they what are their backgrounds and how much are they offering >> right around 600 million euros or over 700 million in the u.s. it started when francois, whose female owns the luxury group, they pledged yesterday $100 million. bernard arnault said i'll double that to $200 million and then francois, the richest woman in the world, the fortune, pledged an additional $200 million that's $500 million just with france's three richest families. >> arno-fauault said i'll see y 300 and raise you. >> bernard is now the third richest man in the world you've got jeff bezos, bill gates, and then bernard arnault at $9 billion. >> he's ahead of the billionaire who runs sara. >> ahead of mark zuckerberg, warren buffett. >> professor maxwell, what is entail

guys, back to you. >>> robert frank, thank you.xt, lyft investor and grammy award winner rapper chamillionaire joins us. why he invested in the company and if the stock's drop has him worried at all we're back in just a minute. >>> you may know him best for his grammy award-winning hits but he's made some savvy tech investments over the years including maker studios which was later acquired by disney cruz later acquired by gm. amazon's ring and now lyft joining us to talk about his investments, hakim "chamillionaire" seriki. i appreciate the time. good to see you. >> thank you for having me >> it's clear you know your way around an early stage investment how do you this? who advises you and what are you looking for? >> a lot of it is intuition. i started a while back, had a lot of interest of guesting in to the tech space. did research found a lot of companies and just found my way. so nobody is advising me >> you have a knack for finding things that later get bought in this case lyft going public how early would you get in on lyft

robert frank is here to detail what's happening at amazon, robert, where the takeaway of the mckenzie bezos giving up 75% of her shares. >> she could have gotten 50% of shares but only took 25% she's going to have 4% of amazon she's worth around $36 billion not bad. but she is not as many expected will not be the richest woman in the world. jeff bezos more importantly will control in terms of voting all of his shares. so nothing changes for jeff bezos in term of the number of shares he votes even though he's giving up economic control of 25%. huge win for him and his attorneys because she could have gotten half. >> he has 12% control of the shares >> voting at 16% no one else in the company that's remotely close to that. so effectively he still has very much control of the stock. >> we've seen ex-spouses be involved after their divorce with the company obviously wynn comes to mind is this mckenzie bezos saying she doesn't want to be a part of it when it comes to the future of amazon the company. >> clearly many people thought once you gave her control of 50% or whatever ownershipship

robert frank joins me now with that story. >> kelly, it's municipal bonds or muni bonds. before you fall asleep this is an interesting story investor flows into muni bonds this year have topped $20 billion. that is the highest in 13 years. analysts say taxpayers who face higher taxes because of the cap on state and local deductions are pouring into munis as tax havens income from muni bonds is exempt from federal tax and often from state and local tax as well. all that demand has driven down yields to the lowest level against treasury since 2001. and that has been great for states especially the high tax states that have been hardest hit by the new tax law eight of the ten biggest issues in the first quarter were in california, new york and connecticut as well as new jersey and illinois also really biggish be -- big shooers recently yields on illinois bonds are the lowest in the country, now 3.6%, not that far above the ten year. you wonder if wl you're getting paid for the risk. >> it doesn't matter because people need the tax breaks the interesting thing to me, the tax

leslie, stay with us robert frank joins us with a look at how these ipos could generate billions in taxg guest wealth creation event in years, probably over a decade, especially for the state of california, the upcoming ipos of uber along with lyft could create $180 to $200 billion. all basted in california they'll see huge gains on the stock and options. california taxes capital gains at the same rate as wages, the top of 13.3%, the highest in the country. the options holders, they don't have to pay taxes until they exercise the option and they sell so this could take months or even years to finally trickle down to the tax roles. wealth front estimates of that $180 billion in total, founders, employees and executives could own more than $60 billion. the eventual tax windfall for the state could be $8 billion or more over several years, not to mention the taxes from the venture capitalists and angel investors who eventually sell. san francisco could get millions since its payroll tax now applies to stock options california already flush with cash projecting a surplus of over $20 billion

it's amazing. >> thank you, robert frank >>> now let's get to michael santoli for "trading nation.e >> thank you, melissa. check out chip stocks today. tanking after intel cut 2019 forecast of the semi stocks cooling off after the big runoff bill baruk and santtina sanchez a two day gut check after bad numbers yesterday. >> intel is leading lower. i've been upbeat, very positive with intel for a long time and even a couple of weeks back, called for a breakout above last year's highs right here. that came a false breakout or budding so this week so of course, today, confirms that there is some value down here and a pullback looking in the 50 area you could find retracement levels but avoid the id sin kar idiosyncratic risk there's a breakout out above 200 and going to stay above there, you could pull back as far as 185 and stay strong uptrend. i think this overall sector recovers i think we'll find it higher over the next 30 days. >> yeah, gina, even as the sector was making new highs, there were still questions about whether, in fact, the overall cycle had turned for the better and

it became the subject of customer complaints and lawsuits, as robert frank has been detailing he's here now with the latest. >> thanks, kelly well, the latest is that officials from the fbi and the u.s. attorney's office had been interviewing customers of jetsmarter about the private jet company's communications and its business practices at least two customers were interviewed in recent weeks by fbi agents and a prosecutor from the u.s. attorney in the southern district of florida, according to people with direct knowledge of those talks officials asked the customers about jetsmarter's agreements, their communications with customers, the names of salespeople, and the details of how the company changed the terms of its memberships they were also told that this was, quote, an active investigation. now, jetsmarter and its new owner, vista global, denied that it's under investigation, saying it has been informed by the united states attorney for the southern district of florida that it is not a target or subject of an investigation. it added that it assists all government authorities with

robert frank explains. >> a bill making its way through albany would more than quadruple the propertyes pai by gol clubs. it would allow towns to tax gol courses at their highest and best use. that means thatr than taxing them as golf courses they will be increased for developable land four to te times the highest, and development property is scarce. the new york golf association estimates that to one-third of all of the clubs in new york state would close if the bill is passed, costing jobs and a lot of economic activity. the state has about 250 private golf clubs and about 500 public courses. the bill grew out of a dispute with trump national golf club in westchester county. in his financial des closure forms during his campaign, course rump valued the in briar cliff manor at more than $50 million, but his f lawyered papers with the state declaring the value for tax purpes at only $1.4 million. assembly woman sandry have -- tooge many clubart feshlly low exceptions and when you have these clibs not paying their fare share, everyone picks up the cost. foy in nightly business report.

robert frank got an up-close look for us tonigh ♪ ♪ >> this is the fasteston producar ever built, ableour and it sold out in just five days at a price of $3 million. it is called the jesko and it's the latest model from the swedish hypercarmaker. only 525 jeskos will be produced. they will make boone a week starting next year. it's one of the super exclusive hypercar brand known only to the sur rich and c fanatics, as ferrari, lamb borg iny and porsche move into the suv world d make a lot more cars, they're appealing to wealthy buyers who wan truly rare cars that can outrun the competition. itns po increase production to 1,000 by 2022 and for the buyers of a $3 million super car, the threat of tariffs won't likely be a problem. >> you really need a turning spe, so i'm sure if you look at other parts of the world like china malaysia and other country, that means they have 200%. >> this car generator 600 hse power and at high speeds it generates 3,000 pnds of downforce. most of the buyers are young enheepreneurs from around world who may not drive it at 300 miles an hour, but do like the

robert frank right now, one of the themes that seems to have come up in this hearing a few times is this question of socialism versus regulated capitalism this dynamic that particularly the democratic representatives were setting up that banks are large at the expense of the customer and the taxpayer, kind of along the lines of this income inequality, outcome inquality that's been a theme in the political cycle lately how is that playing out from your perspective >> there's no question we are in a populace season right now in terms of the elections coming up and the proposal from the democrats for raising taxes on the wealthy, the inequality issue, the issue of capitalism versus socialism came up a little bit a democratic congress person who is saying if we had done what the bankers recommended during the crisis, which is to buy some of the toxic loans, we would all be socialists right now. i thought this exchange between congresswoman velazquez and michael corbat was interesting and she asked him, you make 486 times what your average worker makes. they only make 49,000. if you were one

robert frank joins us with that.lways hear about her. >> haven't heard about her in a while. >>> later, senator chuck grassley set to have a hearing -- instead of paris hilton, we have chuck grassley -- hearing on drug pricing. we'll get his thoughts on big pharma and the government's push to drive down drug prices. >> that's hot. >> yeah. "squawk box" will rhtac beig bk. so with xfinity mobile i can customize each line for each family member? yup. and since it comes with your internet, you can switch wireless carriers, and save hundreds of dollars a year. are you pullin' my leg? nope. you sure you're not pullin' my leg? i think it's your dog. oh it's him. good call. get the data options you need and still save hundreds of dollars... do you guys sell other dogs? now that's simple, easy, awesome. customize each line by paying for data by the gig or get unlimited. and now get $100 back when you buy a new lg. click, call, or visit a store today. >>> we've got a developing story to tell you about. carlos ghosn says he is

robert frank joins us with the results. >> good morning. first tax day under the new tax code while most americans got a tax cut, there is a huge gap between the winners and the losers the average american got a tax cut of about $1200 in 2018 generally the more you earn, the bigger your tax cut. the middle earners will see 1.4% gain in after tax income, about 800 bucks. those in the top 5% will see a 3% gain averaging about $14,000. the top 20% got 60% of the bebb f benefits of the tax cut. the biggest losers are the high earners if they live in the high tax states 8% of taxpayers in new york, new jersey, connecticut and california will see tax increases and the higher your income, the more you paid in added taxes. more than half of all of the tax increases in the new tax law will fall on the top 1%. those who earn their money from salaries rather than businesses or pass throughs or investments also got hit the hardest the biggest winners, those are wealthy business owners and investors in low tax states like florida, texas or washington st

we have dominic chu, less lesli picker and robert frank. can i see a disney shares are surging.y plus is priced below its main competitors it will be $6.99 a month and 70 bucks a year only question, i guess is the business model as they move people toward streaming, is this going to be as profitable as espn sub skrish scriberubscribe? >> akd thnd i'm not paid by dis, but sign me up for the one year right off the bat because i consume personally star wars movies and marvel movies i love them. and i have a toddler who is addicted to mickey mouse clubhouse. so for $70 a year, only thing i have to worry about is whether or not i'm giving too much screen time for my child >> and i said it on monday, the empire strikes back, i was really excited about this, i would pay that amount just for the pixar part of it it is amazing the catalog that they have. and everything new as well the challenge is the spending stuff. once disney becomes valued more like netflix, investors don't care. >> and that was what the move was about. even though they say there will be investment, but they are putt

robert frank is here to explain why. >> tax refund season is looking leaner for most americans after that new tax law now total refunds issued through the end of march were down by $6 billion compared to last year. the average refund is down only slightly falling $20 but the number of americans who received refunds is down dramatically 1.6 million fewer americans received refunds the filers who expect the biggest refunds, they're the ones who file first so the totals aren't likely to change much from here on in more than two-thirds of americans received a tax cut under the new tax law but received the bulk of those cuts in their paychecks throughout the year they may not have noticed as much and since many use tax refunds as a savings plan, this weaker refund season could impact consumer spending a new "wall street journal"/nbc poll showed only 17% of respondents said they got a tax cut this year while 28% said they are paying more the real numbers are that two-thirds of americans got a tax cut, but only 18% think they did. and that's a lot is because they got it during the year in s

it is time to talk taxes robert frank is here with some pretty interesting stuff to talk about.cal information for us. >> i found it interesting. on the campaign trail, democratic candidates are citing the 1950s and '60s as the golden age of taxing the rich with rates as high as 70% or even 90%. what candidates aren't saying is that the taxes actually paid by the wealthy were much lower and they haven't changed much over the past 60 years. an analysis by top economists led by toma pikity looked at the total amount of taxes paid by the top 1% relative to their income now, in 1960, when the top official rate was 91%, the 1%ers paid 80% of their total rate that rate fell and today the top 1% pay a rate around 37%, so it's only 5% or 6% points less than the golden 1950s days so, why did the rich pay so much less than their official rate? first of all, those top rates only apply to a very small group, less than 10,000 households made enough to pay that 91% rate in the 1960s also, much of that income came from capital gains and investments. those, of course, taxed at much lower rates.

here with youric thats are dominic chu, seema mody and robert frank first up, got to talk ipo s.here are lot of under-the-radar names. we saw zoom's huge opening last week how about jumia technologies, pager duty all having megadebuts jumia is up 150% zoom up 77%. guys, i mean, this is a craze for one of the most boring sounding parts of the ipo market how did it get so hot? >> they're underperforming not underperforming, undercovered these are gems that you can still find outperforming analysts got to cover them more. these are the ones you can find an out performance in opposed to uber or lyft or pinterest. >> and pinterest has done okay 30% gain is nothing to sneeze at everybody is just burned by what happened with lyft >> to me the lesson here was the opposite i was surprised how many companies were doing so well when you looked at the business models there's one here fut 2 holdings. but the revenue maker is a subcompany that's got a weird relationship and they're under investigatio or inquiry for possible money laundering and the stock is up 27%. so this is the federal reser

. >> thank you everybody dom chu, robert frank and i was going to say courtney rogers courtney reagantake it. >> san francisco housing shortage becomes more dire, a luxury waterfront neighborhood now set to be the site of the city's latest homeless shelter we have the details of a tense fight between advocates and opponents of this next each day our planet awakens with signs of opportunity. but with opportunity comes risk. and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. >>> welcome back tiny san francisco district is going to be the site of a new homeless shelter after a fiery debate with residents who opposed it and advocates dede roy has the details for us. hi, aditi. >> reporter: homelessness is one of the top problems in the city especially with the rising housing costs. on the other, you see luxury n condos in the neig

. >>> state politicians working on a new way to tax the rich by going after golf robert frank with theing its way through albany could more than quadruple the taxes. it would tax golf courses at, quote, the highest and best use. so that means rather than taxing them as golf courses, they could be taxed as developable land that would increase property taxes four to ten times their current level. the hikes would be especially steep for westchester and long island where development property is scarce and the new york golf association estimates a third of the clubs in new york would close if this is passed. that would cost a lot of jobs and economic activity. the state has about 250 private golf clubs and about 500 public courses. now, the bill grew out of a dispute with the trump national golf club in westchester county. financial disclosure forms during the campaign, donald trump valued the club in brier cliff at more than $50 million but his lawyers filed papers with the state declaring the value for tax purposes at only $1.4 million assemblywoman zani said too many used illegal wrinkle

it could also create a huge tax wi windfall for the state of california robert franks with us to break down the numbers and you wouldn't think of it a windfall for california? >> yes, taxes. california loves taxes and ipos and this could be the next california gold rush nearly $200 billion in ipo wealth generated in the coming month. uber, pinterest, slat, post mates, palentier they could create a market cap with $180 billion to $200 billion and all based in california founders, executives, venture capital partners all see big gains on the early stock capital tax gain as wages with a top rate of 2.3%, the highest in the country. the tech employees who have stock options, they don't have to pay taxes until they exercise the option and also sell them. so that could take months or even years to finally trickle down to the tax rolls, estimates of that $180 billion, the corporate founders, employees and executives could own about $60 billion so the eventual tax windfall for california would be $8 billion over several years, not to mention the taxes from all the investors and angels san fran

robert frank joins us with more on this front. ll, it is the most targeted and well-funded campaign yet to raise taxes on the wealthy a coalition of more than a dozen progressive groups are creating a new effort called "tax the rich," and it's aimed at urging voters and candidates to pass new taxes on the top earners now, they plan a seven-figure ad and awareness campaign starting in the democratic primary states it will kick off in iowa, move to new hampshire, nevada, colorado, including tv and digital advertising, rallies, and town halls they say they, quote, will make it impossible to consider yourself a progressive leader if you do not support taxing the rich >> we've already seen a number of candidates introduce proposals and ideas about taxing the rich, and so the energy is there. but as we all know, it's very easy for big ideas to fall out of the mainstream conversation if they're not talked about constantly and so, our goal in having these conversations in the early presidential primary states means that we're going to keep

robert frank joins us with more. what >> you sometimes golf in new york, right? >> yeah.is would make a difference. >> so this is a bill making its way through albany that could more than quadruple the property taxes paid by golf clubs, the bill in both the assembly and senate would allow towns to tax golf courses at their highest and best use that means that rather than taxing them as golf courses, they could be taxed as developable land increasing property taxes by four to ten times the current levels the hikes would be especially steep for clubs in west chester and long island where property development is especially scarce only the nicest courses. >> great idea. >> here is the amazing thing, the new york golf association estimates that a third of the clubs in new york state would close if this is passed. now, that would cost jobs and economic activity. the state has about 250 private golf clubs and about 500 public courses. now, the bill grew out of a dispute with the trump national golf club in west chester county in his financial disclosure forms during his presiden

where's robert frank when you need him he knows about all this -- >> but if your personal taxes go upbookfar saying we are underestimating the results of the s.a.l.t. impact. i looked into this 90% of taxpayers in the top quintile are estimated to have gotten a tax cut this is tax policy center data, of around $8,000 10% took a whack of around $7,000 maybe the 10% are talking loudly or the tax policy center estimates are wrong. >> or maybe you don't know, you're waiting to see if you have a big tax bill to pay for the year or not. >> it's something we need to watch, and we don't know it affected a lot of the blue states quite a bit let me give you some other data. education/health services leading the pack if you have seen that before, it's because they always lead the pack, up 56,000. and the construction number down 6,000, had a lousy month as is manufacturing. here's a quote from mark zandi, who puts this together but couldn't join us says the job market is weakening with employment gains slowing significantly across most industries and company sizes businesses are hiring cautiousl

million by hedge fund billionaire ken griffin that released the quarter's average about $112,000 robert frankjoin us at 7:45 with more on the new york real estate numbers. we'll dig in a little deeper when we come back, though, a relatively slow start for stocks today. we will take a closer look at some of the morning's big movers right after this a programming note willford frost will sit down with brian moynihan. that exclusive interview coming up today at noon eastern time. right now, though, as we head to a break, take a look at yesterday's s&p 500 winners and losers let's build a better world for investing. let's create jobs, build bridges, insure prosperity. as investment management professionals, let's measure up. cfa institute. -it's our confident forever plan. -welcome to our complete freedom plan. -it's all possible with a cfp professional. ♪ -find your certified financial planner™ professional at letsmakeaplan.org. thwho hold themselveshe finanto a higher standard.ional they are called "cfa charterholders." demand the best. demand a cfa charterholder. cfa institute. >>> welcome bac

data coming in from the irs shows that the government paid out significantly less this tax season robert franke all frowning here, robert. >> me, to, contessa. >> total refunds issued through the end of march were down by $6 billion. the average refund is down only slightly falling 20 to $2873 1.6 million fewer americans received refunds that could change a little bit by april 15th and the filers who expect the biggest refunds usually file first and the totals aren't likely to change that much now. more than two-thirds of americans receive a tax cut under the new law and they received a bulk of the pay cuts throughout the year which they may not have noticed and it's a forced savings plan. the filers usually spend the refile in the spring a new wall street journal/nbc poll said 17% of respondents got a tax cut while 28% said they're paying more. this may be the most underappreciated tax cut in history, guys. back to you. >> robert, surely the incentive and i guess one of the intentions is that medium to long term, not immediately, the high tax rates start cutting their local taxes as opposed t

also saying something about timing, given the fact we've got this new tax in play robert frank, thank back, imf managing director christine lagarde joins us ahead of next week's world bank meetings it's equal payday. we'll take a look at which companies are moving closer to equal pay and which still have a long way to go "squawk on the street" will be right back what do you look for when you trade? i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪ transparency. expertise. these are the building blocks enduring relationships are built on. as investment management professionals, let's measure up. cfa institute. >>> jeremy segal says there's

robert frank with the details. bert >> it is the most targeted and well-funded campaign yet to raise taxes on the wealthy a coalition of more than a dozen progressive groups are creating a new effort called tax the rich and it's aimed at urging voters and candidates to pass new taxes on the top earners they plan a seven-figure ad and awareness campaign starting in the democratic primary states. they will kick off in iowa and move to new hampshire and colorado including tv and digital ads, rallies and town halls. many of the democratic candidates already have proposed plans for higher taxes on the top earners and wealthy but this new group will hold them more accountable saying "it will make it impossible to consider yourself a progressive leader if you do not support taxing the rich >> the wealthy and big corporations are not paying their fair share, and should we win back -- should democrats be successful in 2020 this needs to be a top priority for them >> now, raising taxes on the rich is also popular among voters

of my favorite subjects, tax rates, paid by the wealthy our resident expert on all thing taxes, robert frank the tax nerds at cnbc on the campaign trail, democratic candidates are citing the 1950s and '60s of the golden age of taxing the rich when the rates were as high as 70%, 90% what the candidates are not saying is that the taxes actually paid by the wealthy were much lower and actually haven't changed much in over 60 years. according to congressional budget office, in 1960 when the top dakottax rate was 91%, the e was 31%. when it fell to 70, the rich paid in the mid-20s. now it is about 26 to 27%. so only a few percentages points less than it was when those rates were so much higher. now, if you look at the chart, the orange line is the official tax rate the blue line the rate actually paid by the wealthy. you can see that blue line, well, pretty stable. now, why did the rich pay so much less? those top rates only apply to a small group, less than 10,000 households made enough to pay that rate. in the 1960s, a lot of that income came from capital gains, taxed lower. and as they always

robert frank has the details >> jeff bezos will keep 75% of his stocamazon shares and mckene gets 25%the total company, mckenzie will have 4% making her the largest -- fourth largest shareholder. more importantly, he will retain voting rights over all the shares including those owned by mckenzie and she will not be seeking a board seat or any other role in the company. jeff bezos also keeping blue origin and "washington post," so no big changes there in her first communication about the divorce, mckenzie tweeted today grateful to have finished the process of of dissolving my marriage with jeff and jeff tweeting i'm grateful for her support and her kindness legally she could have fought for up to half of his shares once approved, she will be wortt around $36 billion jeff bezos still remains the rich he is man in the world. he has about 1$114 billion unclear what happens to custody of their kids and their five homes. but i don't think that they will be fighting over the flatware. >> all right thank you. ism implications for shareholders >> of the whole saga, this is the tidiest piece of

geoff bennett, white house correspondent for nbc news, frank figliuzzi for counterintelligence, and robert costa, moderator of "washington week" on pbs. good evening and welcome to you all. frank, given your experience, y tell us how easy or hard it is to get a fisa warrant, and could the work done under a fisa warrant be construed as spying in the name of that warrant? >> brian, look, the performance of this attorney general over at the last two days has been t abysmal. what he did today by invoking the spying connotation is he flew what i would call a flash g ban grenade into the room. by that, anyone who has been associated or involved with tactical teams will know that a flash ban grenade is meant to disorient and distract with a flash of light and a loud noise, but it's not made to take out personnel. what he did was throw in the flash band grenade into the room. he is falling in line with this president, and the notion that the fbi was somehow spying on a campaign when what it has proven to have done is lawfully investigate with predication allegations that the russians were involved

robert frank joins us with more on this. >> good morning.considering a new tax on wealthy investors even as residents of that state and companies are moving out democrats in the state senate and house are proposing to raise the top tax rate for capital gains, interest income and dividends from 7% to 9%, that would make it one of the highest in the country the tax would apply to individuals who make more than $500,000 or households who are earning more than a million. the green witch hedge fund association and that world already coming out against the tax. the hedge fund association saying, quote, in a statement that after five tax increases in 15 years and the new salt limits on federal taxes, quote, connecticut taxpayers, high earners and otherwise are paying enough the state is especially top heavy when it comes to incomes and taxes. just 350 families paid 12% of the state's total incomes income taxes in 2014 according to the latest consensus and connecticut was the only state in new england to lose population between 2017 and 2018 the sta

robert frank is here with the details. eff bezos' security consultant accuses saudi arabia of hacking bez bezos' cell phone and data in retaliation for his ownership of "the washington post." gavin debecker is bezos' security chief for 22 years and wrote in "the daily beast" saturday that "our investigationors and several experts concluded with high confidence that the saudis had access to bezos' phone and gained private information." now, he said the saudis have been intent on harming bezos because of the "post" coverage of the murder of journalist jamal khashoggi. he says it was the saudis that provided the initial tip to "the national enquirer" that bezos was having an affair with sanchez. they only said the saudis had technology to collect smartphone data in the air without leaving a trace, and it's been widely reported that sanchez's brother, michael, was actually the one who sold bezos' pictures and texts to "the enquirer." ami, the parent company of "the enquirer" for the first time outing michael as the source and t

robert frank joins us with more on that. >> more than half dozen states, in fact, all controlled by democratsealthy in new york, a new mansion tax on multimillion dollar properties that starts in july is expected to raise more than $300 million a year and will help the state fund its latest $175 billion budget. now, new york governor phil murphy is also pushing a broader millionaire's tax to pay for preschool and education. the state already imposes a top tax rate of 10.75% on those making more than 5 million he would actually expand that group to include those making over 1 million now murphy said it would, quote, ensure tax fairness for the middle class in connecticut, supporting a statewide property tax and also increasing its top tax bracket by half a percent to 7.5%. illinois governor and billionaire j.b. friend of this show wants to replace the state's flat income tax where everyone used to pay 4.95% with a more progressive income tax where those who make the most pay the most and in california a new bill would put a state estate tax on the ballot that adds to the 14 states that current

these tropes, maybe they read it on the internet, but the language itself is coming out of a frank gaffney or robert spencer. that vertical reach top to bottom is quite pervasive. that is why i have become alarmed. matt: talk about the horizontal legal changes, whether at the state level or local level where you're seeing changes in law from the gaffney perspective. >> to kind of launch the statements, there is one take away i want folks to walk away with. don't think about islamophobia as exclusively irrational. physically rational from private actors but when it is state, corporations and industry, it is irrational -- pm private actors their objective is a specific portrayal of islam and muslims to achieve and obtain certain objectives, political, legal or economic. that is rational. it is the definition of rationalism. i don't like the term islamophobia industry. monolithic and limiting. i like the framing of the network because it allows us to think about how the state actually impacts, what corporations are doing, what the media is doing. it is more interconnected vanity is one sort of homogeno

frank mallicoat. >> the wait is over. special counsel robert mueller's findings revealed to the public today. >> americans and lawmakers are not getting a chance to review the entire report. a reporter is out tied the department of justice in washington. >> reporter: hi frank, allie, you are right. they are able to see a redacted version of the report. it is 400 and 48 pages long. the report that we get to see today has about 800 reductions. it is broken up into two volumes. one related to the russian collusion case aspect of it. the other one has to do with obstruction of justice. >> the president took no act, that deprives the counsel of the documents and witnesses necessary to complete his investigation. >> reporter: william barr's report says trump did not collude with russia. >> we now know that the russian operatives who perpetrated these schemes did not have the cooperation of president trump or the trump campaign. or the knowing assistance of any other american, for that matter. >> reporter: barr adjusting the reports, reductions, and r

frank somerville. the 448 page report detailed 10 episodes where robert mueller examined for possible obstruction of justiceed mr. trump's firing of fbi director, james comey, the director to is white house counsel to five it fire robert mueller and when the president try to influence witness testimony. christina don't with a deeper look into the report . >> this report, as you mentioned, more than 400 pages long and crew includes more than 800 reductions and the council, robin lost two year investigation. a redacted version of special counsel robert mueller's report is made public with presidents trump speaking thursday morning before it was released . >> no collusion. no obstruction. this should never happen to another president again. >> attorney general, william barr says trump's lawyer saw re

the franks strength is her fresh approach she reinterprets beethoven giving familiar pieces and incisive morden feel . her first goal with a torch a symphony orchestra beilin under music director robert to chart sea has taken her to new heights. the norwegian musician has been high old as a violin virtuoso she's now thirty two years old and has settled in germany. she was born in oslo and to a family of musicians and gave her first concert at the age of ten it wasn't long before she became a soloist with the oslo fillmore nick bolkus struck. a scholarship from star violinist and a sophie mozart allowed had time to mature as a musician. has made claims recordings of many exceptional and demanding compositions georgia and that skews octet for strings. it's a veritable mount everest for the musicians. performance seems to come straight from the song. yes co-wrote it when he was just seventeen. he happened to. great the. all time. favorite. frank has a one hundred percent devotion to the music she performs her repertoire includes works from the twentieth century and the classics. poets is. each note carries immense expressive power. architecture student power i started photographing. hou

robert mueller. >> played at his golf club or something. golf club. come on. >> wow. frank figliuzzi has another contribution having read on ahead of us. frank? >> yeah, i want to keep pulling on two threads, brian, that we've already surfaced. one is this notion that a question of whether or not the attorney general is accurately portraying the level of cooperation by the president and those around him. and then the other is this question of whether because something is not criminal it means that we can't have it go to congress or that it's acceptable conduct by our president. so i'm on page 153. this all pertains to cohen. and we read, "there is evidence described below that the president knew cohen provided false testimony to congress about the trump tower moscow project." so that's not a cooperative president. that's a president saying, i have knowledge that someone's provided false testimony, my attorney has provided false testimony to congress and i'm not doing anything about it. we have to ask ourselves whether that's acceptable and whether that's cooperation. next p

. >> frank, i want to underscore one last point before we lose you. robert mueller spent 22 months looking at both questions, whether a criminal conspiracy around coordination and efforts with the russians took place and around obstruction of justice. on the question of obstruction of justice, he did not roach a conclusion. bar did. will the report explain that extraordinary culmination of robert mueller's 22 month effort around obstruction? >> i would be surprised if the report does not contain either in some exhibit, appendix or footnote a legal explanation of mueller's intention. i've got to tell you, that's one of the first things i'll be trying to flip to when the report is released. what was in the mind of mueller, what was conveyed to the attorney general, if anything. i think that's critical. if we see evidence that mueller intended this to go to congress for a decision, that is explosive and actually empowers the house to move forward with investigation. the other thing i'll be flipping to, because you know where i come from from my experience, i'll