steve forbes, chairman and editor-in-chief of forbes media joining us now. thanks for coming in the, steve. >> good to be with you, jamie. jamie: do you think the president has the answer to this? >> no, he's the living definition of insanity. he tries another variation of it. you're going to see that next week with the jobs thing. a new infrastructure bank, sort of fannie may for highways and other programs that are short term but don't get to the heart of the problem; weak dollar, uncertainty about taxes, overspending and overregulation. jamie: so if that's his plan, and he will present that again in this jobs speech, by your estimation is there a plan that would fix this? >> yes. and it's going back to what ronald reagan did in the early 1980s, that is stabilize the dollar, reduce the tax burden, reduce the regulatory burden and, voila, american entrepreneurship flourishes again. we can do it now. jamie: do you believe that the president has shared his ideas with his staff or the people he's assigned the task of telling him from an economy point of view wh

who better to ask this to, steve forbes, the chairman and editor-in-chief of "forbes" media. good to see you. >> martha, good to be with you, thank you. martha: my first question is we played a little while ago president obama back in 2008, you said you just can't raise taxes on people in this kind of economy. so what has changed do you think that makes him think this time around it actually will help the economy? >> well, after the blowout in spending he has to come up with some more revenue. the only way he knows how to do it is not by growing the economy the way ronald reagan did but by increasing taxes on people. and in terms of the math, he's right it is the math. people who the top two, take people making over a million dollars a year, martha, they make up .2 of 1% of the taxpayers but they pay 20% of the tax. top 1% of income earners pay 38% of the tax. and the tax rate, the effective tax rate of the so-called rich is three times that of the middle class. this idea about the rich not pay something just preposterous, the math proves it. this is demagoguery, politics, po

we'll go in focus with steve forbes and steve. and vick taria and mark and morgan. a full house today. steve, is it time to clip the wings of the nlrb. >> not only clip the wins but send it to the smith solicitsonian. it is crushing business and this is starting to push that block back. they are right when they call the nlrb a law firm for big labor. got to shut it down. >> the reason that south carolina is interested, boeing wanted to move a plan from the west coast to a nonyownized plan and nlrb is standing in the way. they tried to open the plant and the nlrb is trying to close it down. >> i think they should at a and i don't think it is a problem for jobs or job creation. >> unions are percent of our work force and the nlrb is newtured by court decision and why can't labor have a readdress in the courts? this is mean-spirited republicanism aimed at removing organized labor and detrying it altogether in this country. >> isn't there a fine line between them having too much power in favor of the union and them having just enough. >> n lrb is sphosed to be a arbitra

>> i call it the steve forbes never pays taxes again tax. the flat tax applies to wages.s, from royalties of certain kinds, from interest, you pay no taxes. you would live tax-free. so if you're steve forbes or someone like that, you take one dollar in salary and you take the rest as dividends. >> but it would make it harder for low income people? >> absolutely. it would be a disaster for everybody but the super rich. >> david, thank you for clearing the sky on that one. >>> coming up, thousands of postal facilities are in danger of being closed down. this is the real deal, folks. if this happens, entire communities are really going to feel the effects. so let's go to a small business owner whose local post office might disappear and what's going to happen to her two businesses. that's next. stay with us. i needed more customers, so i got my nephew to build a website. i hired someone to make my website... five months ago. we are building a website by ourselves. [ woman announcing ] there's an easier way. create your own small-business site... with intuit websites. just ch

steve forbes is chairman and editor and chief of forbes media. e, thanks for being here. >> thank you. megyn: i assume you're in the .2% and the president says you're not paying your fair share and he can save the american public $1.5 trillion if he hikes your taxes again. what say you? >> i think you put the numbers out there, and if you take the top 1% of income earners in the country it's almost 40% of the tax they pay. it's a very progressive code they may pay. the bottom 50% don't pay federal income tax. instead of the president trying to wage war against capital and capital creation he should be focusing like ronald reagan by getting the economy booming again. let the americans be tpwraoe again to start new businesses and create new jobs. megyn: he wants to raise taxes for people who make over $200,000, or 250 if it's a couple. he wants a millionaire surtax. it's two different things, if you're between that 2 # hundred and a millar not off scot-free. you'll get hit and the millionaires will get hit in addition. in justifying the millionaire

steve forbes didn't get on every ballot at the time. >> no. no, that's right.he presidential race is going to be decided by whoever shows up in january looking most like a president. and that doesn't mean pandorring to this view or that view, that means showing the capacity to deal with jobs, national security, and lead us out of some real problems and to a brighter future. and that's harder to do than it looks. i mean, going from being governor -- even of a big state to a presidential primary in january is like going from the eighth grade basketball to the nba finals overnight. >> you know, let me ask you that. sort of -- you were sort of touching on this question, where it does seem as if it is mitt romney and rick perry at the end, there is this question of what's more important to republican primary voters, quote, unquote electability or going with somebody that matches their own views. a voice heard this -- republicans always try to find the most electable conservative, democrats simply go for the most electable. what's your view? do you want somebody more

steve forbes did an excellent interview in the current "forbes 400" issue. >> david: suck up, suck up. go ahead. >> yeah. he talks about how all the businesses, everyone feels fairly confident, when they look at their numbers they're good. these are hotels, sporting goods. then they are looking ahead and they are scared. we have to get out of that. dennis neil line. scaredty cat mind set and have confidence. housing is only a part of it. >> david: you teased dennis. dennis is up in a minute but bill next. bill, do we need housing recovery before we have a jobs recovery? >> yes, we need it. no, we're not getting it. there is a grand social engineering experiment at the federal reserve. here is the scheme. they deny interest to senior citizens who live off the cds. interest rate on the bank account is zero. this is supposed to help young people buy houses. not working, house prices are still flat. it's backfiring. constructional employment is dead. the economy is dead as a result. you know what? old people will go back to cat food. >> david: mark, the scary thing is no matter what we tr

. >>> coming up later on "the early show," ceo steve forbes talks about president obama's deficit plant includes raising taxes on the wealthy. also the latest on that horrific air show crash from reno, including a conversation with a survivor who was hate by plane debris when it struck the ground there. >>> on a much lighter note, the emmys from the red carpet to the big winners and losers on tv's biggest night. all that and much more coming up a little later on "the early show." >>> that's the "cbs morning news" for this monday. appreciate you watching, as always. i'm terrell brown. take care, everybody. have a great day. -- captions by vitac -- www.vitac.com why police are worri >>> the search for suspects in a double shooting in south san francisco. why police are worried about a rise in youth violence. >>> investigators test remains today to see if they belong to a ss

steve forbes used to say alan greenspan want goosing it up enough.hey have allowed the fed to make policy decisions on monetary policy, because elected politicians are no good at this stuff. they get it wrong all the time. they try to manipulate things for the politics. the fed has a remedy to cut down inflation and cut down employment. if these elected leaders, the leaders of the republican party think this is normal or acceptable, then the republican party isn't what it used to be, and it's way out of the mainstream of its own history and public opinion. >> i agree with you. in fact, let me show you what vice president biden said about the republican party that really says exactly what your point was that you just made. he says -- you know what our biggest problem is -- there's no republican party. the tail is wagging the dog, and they can't control their party. that's the -- that's the problem. that's not going to -- the only thing that's going to change their minds is their constituency. tell them that they have to move. that's what biden says. >

get the latest from the white house and republican reaction from former presidential candidate steve forbesin the studio. plus, you've been talking about. it the glitz and glamour from tv's biggest night. all of the winners and losers, and must-see moments from last night's emmys including mr. sheen. and would you say that you see the glass at half full or are you more of a negative nancy? we will break down a new study that says it could all be in your genes. are you a negative person or a positive person? pessimist or optimistic? those stories and much more on "the early show" in just a couple of moments. >> that's not our fault. >> that's right. we are what we are, thanks to mom and dad apparently. >> you're a trouble maker. >> and is julie watts still hanging out there by the way? >> you know what, she just left about 10 minutes ago. another day where she just came and loitered around the set. >> there we go. >> it was actually good to have her 00 0 doctor her here 0 -- her here on friday. she travels with a posse. she and 20 people. >>> and a giant satellite is on a collision course wi

more than 600 lectures including addresses from sarah palin, and coulter, karl rove, ben stein, steve forbes, and many others. in 1998 in american foundation save the ronald reagan ranch and in santa barbara the use it to educate young people about reagan's ideas and how they apply to today. to learn more, please visit our website. call 1-800-u.s. 8-1776. right now we will start a book panel. young people, we are used to youtube in the internet to be my big question is why i've read. i want to find out because honestly i have a hard time getting back into books and intellectualism. these guys will answer what we should read and why. we have some great panelists. we have roger ream, christopher malagisi, and kathryn jean lopez. i will introduce them all individually, but generally i wanted to say before we get into the panel that this is important to build a base for intellectualism and conservatives and have the ideas and the true logic to defend your ideas and to have these on college campuses. your professor is first in intellectualism, and a lot of that comes from books and a long line of

i had a chance, i met with steve forbes last night. for years he's been talking about a flat tax. is it realistic at all as we get ready for election year to think there's going to be, beyond talking, any significant tax reform, substantive change? >> well, the only way, wolf, and the only real hope is that you have this super committee that has an ax hanging over its head. that if it doesn't do some serious tax reform, deficit reduction, entitlement reform, then the congress will have to accept these kind of cuts that could be very politically difficult for them. so since there is an ax hanging oakar their head, maybe they will actually do the job they were sent there to do. i also have to say that i believe the president himself, who i was listening, talking about how we need to do this tax reform, missed an opportunity himself in his state of the union speech, way back in january, wolf, you'll remember, the simpson-bowles commission had come out. it had proposed tax reform, and at that point the president held back and did not embrace it. if he had embraced it or parts of it in

. >> and welcome to forbes on fox. steve, and rich and bill, and ky and kim and karen.teve, we'll talk about this. this is the rules that was scrapped. not too impressive here. but look at what we have to deal with now. shouldn'tee get rid of this? >> and we create jobs. environmental protection agency is now the environment punishment agency going after coal powered plants and this is ridiculous. go to the white house up until now regulations help create jobs and like the old cigarette companies saying cigarette smoking is good for your health. not reliable source. >> so many regulations to talk about here. boeing, nlrb. is it regulations run amuck. >> when you travel around the country and talk to ceo's from companies large to small, the boeing thing has had a chilling affect. the problem is because the nlrb said that boeing can't build a plant in south carolina which is a right to work state. what happens is, on legislative actions you can predict what is going to happen. when bureaucracies and burr crates rule on things. you don't know what is coming down on the pik

something which steve forbes has developed over the last ten years. would had help simplify the system. we also outline a series of dramatic be tax cuts to help get jobs created once again. we outline the steps we need to take to bring the budget back be into balance, including the largest reform of the federal government since the 1 # -- 880s and a new approach on be brain science which with alzheimer's, autism, parkinson's and a range of other thing, we think would have an enormous impact both on the lives the american people, but also on federal budgets and private budgets over the next 20 or 30 years. i think the contract is going to be a very comprehensive document that allows people to see not only what a gingrich administration will be like, but a scale of what you should be measuring both the president and other candidates against because the united states has got to do a lot of work to get back on the right track to be the most prosperous and the strongest and the safest country in the world. >> steve: some of the themes you talk about, as yo

steve forbes learned campaigning out here a very painful lesson which is that you cannot impose a flat tax because it comes translated into he will take away your home mortgage or whatever your particular thing is. the only way to give people an opportunity is to have it as an option, not as a replacement because it is too hard to get people to take the risk. you might only have a small amount of people making the choice. giving them the right to choose is very important. >> there is a small core hurts of troops in iraq, would you pull them out of other countries? >> when you are next to iran and you have the level of overt hostility that a number of leaders have expressed in iraq, you have to think about it long and hard. i would say the same thing. you want to be large enough to defend yourself or you want to get out. you don't want to become small enough to be vulnerable. you have to do that on a country by country basis. the deeper question is what is our grand strategy to from that ramallah is saying this as he leaves. this is very sobering what he has said about his view of pakis

ask steve forbes. i don't think he got on every ballot and he got in in november.ntil after october. >> the window closes in october. he should be on that stage november 10 or 11, hanover, new hampshire. thank you very much. we'll see you at 9:00 on the daily rundown. tomorrow we'll have sting on the show and also talk to former governor and presidential candidate mitt romney and standing by in the green room presidential candidate jon huntsman. more "morning joe" when we come back. [ male announcer ] you've climbed a few mountains during your time. and having a partner like northern trust -- one of the nation's largest wealth managers -- makes all the difference. our goals-based investment strategies are tailored to your needs and overseen by experts who seek to maximize opportunities while minimizing risk. after all, you don't climb a mountain just to sit at the top. you lookround for other mountains to climb. ♪ expertise matters. find it at northern trust. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in

so the flat tax that steve forbes has proposed for a long time is really the way to go.ropean countries, you take a look at russia, they have a flat tax which makes it so simple to comply. and that is what stimulates business. >> all right. they keep running out of milk. better dohman, author of "financial apocalypse." thanks for your instant analysis for last night's speech. great to be with you. house majority leader eric cantor actually likes some of the president's proposals. what about that take it or leave it mandate? leader cantor will be here live. now a new terror threat to attack america on 9/11. are we safer as a country right now? are we smarter than so years ago? geraldo rivera, top of the hour. really? no. it comes with a hat. you see, airline credit cards promise flights for 25,00miles, but... [ man ] there's never any seats for ,000 miles. frustrating, isn't it? but that won't happen with the capital one venture card. you can book any airline anytime. hey, i just said that. after all, isn't traveling hard enough? ow. [ male announcer ] to get the flights

the consumption tax could be anything, like a national sales tax or the flat tax that steve forbes championed a decade or so ago. hall rabushka flat tax -- this dollars that introduced it decades ago. the consumption tax would be simpler and in my view it would be pro-investment and savings and help of the economy grow more strongly. host: carl, watching us from san antonio, asked a question what you were commenting. i do believe there should be deduction for mortgage and charitable donations. guest: certainly it is one of the huge problems we have, is the weakness in the housing market. the housing market is not just about construction workers. new housing construction is a big source of energy for manufacturing. as many of the things that go into homes are manufactured -- when people buy a new home, they buy the new things that go into a home. it is a very important part of the economy and one of the big reasons we are struggling right now. can i turn back to what chris was talking about multinational corporations? it is important to keep in mind that these big multinational corporations th

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replaces it with a consumption tax that could be anything like a national sale tax or the flat tax steve forbes brought up a decade ago. basically, consumption tax is simpler than an income tax is have very prosavings and helps the economy grow more strongly. >> host: karl from san antonio asked about it, and he said it's a tax of a percent on every dollar received by every citizen, and i believe there should be be a tax for charitable donations. they need to take care of disasters and the needy, the housing market and workers wages. >> guest: certainly, it's one of the huge problems we have is the weakness the hoying market. the housing market is not just about construction workers. new housing construction is a big source of energy for manufacturing because the things that go into homes are manufactured in the u.s. and when people buy a now home, they buy everything that goes into that home. it is a very important part of the economy, and that's one of the big reasons we have it and we're struggling right now. can i turn back to something chris talked about with multinational corporations? >>

steve forbes learned campaigning out here a very painful lesson. you cannot impose a flat tax because it becomes translated into a will take away your home mortgage. the only way to start giving people an opportunity is to have it as an option, not as a replacement. it is too hard to give people to agree to take the risk. you may only have a small number of people take that choice. giving them the right to choose that is very popular. >> would you pull troops out of the other countries or is iraq a special case? >> when you are next to iran and you have the hostilities that a number of key leaders have expressed, you have to think about it long and hard. i would say the same thing in afghanistan. you want to be large enough to defend yourself or you do want to get out. you do not want to become small enough for you become vulnerable. it is very sobering what he is saying about his view of pakistan. >> how are the numbers looking? >> i am not going to entry. -- i am not going to answer you. >> rick perry holds a town hall meeting in new hampshire. t

the consumption tax could be anything, like a national sales tax or the flat tax that steve forbes championed a decade or so ago. hall rabushka flat tax -- this dollars that introduced it decades ago. the consumption tax would be simpler and in my view it would be pro-investment and savings and help of the economy grow more strongly. host: carl, watching us from san antonio, asked a question what you were commenting. i do believe there should be deduction for mortgage and charitable donations. guest: certainly it is one of the huge problems we have, is the weakness in the housing market. the housing market is not just about construction workers. new housing construction is a big source of energy for manufacturing. as many of the things that go into homes are manufactured -- when people buy a new home, they buy the new things that go into a home. it is a very important part of the economy and one of the big reasons we are struggling right now. can i turn back to what chris was talking about multinational corporations? it is important to keep in mind that these big multinational corporations th