steve forbes is right. we're overdoing it.re going to become the instead of solving the problem. we need to chill out. >> i know, you painted a scenario of silliness, somebody staring at every action or word on the bus. when you are bothered, wondering who is listening in and if they are listening in? >> i'm glad someone is listening. what am i doing on bus. here is why -- >> how much liberty are you willing to give up to be secure. >> i know the story... in the bay area. they were able to track down the other kids who beat him up because there was a camera in that bus. to me that is powerful story. >> go ahead. >> i mean how much liberty are we willing to give up to be secure? this is just so dangerous to rely on people to snoop on us. >> then don't take public transportation. that is the dividing line. we know that public transportation is a target. >> isn't eight slippery slope. you started in the streets with these cameras at traffic lights. now you are going buses, now next inside your house. >> hey, i got tagged for goin

steve forbes is right. we're overdoing it.ng to become the instead of solving the problem. we need to chill out. >> i know, you painted a scenario of silliness, somebody staring at every action or word on the bus. when you are bothered, wondering who is listening in and if they are listening in? >> i'm glad someone is listening. what am i doing on bus. here is why -- >> how much liberty are you willing to give up to be secure. >> i know the story... in the bay area. they were able to track down the other kids who beat him up because there was a camera in that bus. to me that is powerful story. >> go ahead. >> i mean how much liberty are we willing to give up to be secure? this is just so dangerous to rely on people to snoop on us. >> then don't take public transportation. that is the dividing line. we know that public transportation is a target. >> isn't eight slippery slope. you started in the streets with these cameras at traffic lights. now you are going buses, now next inside your house. >> hey, i got tagged for going 69 i

will save us." >> now joining us on booktv is magazine publisher, politician and frequent author, steve forbes, whose newest book is coming out in august of 2012 and it's called "freedom manifesto: why free markets are moral and big government isn't." we are at freedom fest in las vegas, where mr. forbes is speaking. mr. forbes, why is that free markets are moreover, but that government isn't. with an example of that? >> remake the emphasis of big government. going back to it james madison defined. but in terms of big government not being moral, it is the opposite of what it purports to do and creates an environment we have less ability to get ahead increased dependency and not a sense of independence. it plessis crony capitalism, which hurts oil entrepreneurship and creativity. all the things the government says it does hopes the poor to make sure the markets: the right direction. they do the opposite. their short-term oriented, writes to the next election. they have their own agenda. they don't respond to the marketplace the way business has to do. they have their own agenda of interest grou

steve forbes? >> i met him at an event i did when i was working in southern california and one thing led to another. i moved back to new york. i am from new york and started working at "forbes" of the pr department. >> elizabeth ames, or practical experience, how do that that? >> i've learned a lot since "forbes." when i sat "forbes" islandwide about markets. again, i began as a journalist and worked at "businessweek" many years ago as a journalist. but when i started to work as an entrepreneur, i learned about the fact that you really need to have economic freedom to create jobs. something i learned personally. if you're obviously just getting a paycheck, you really don't understand how government can affect that firsthand. that was one of the things that led me to think this is a useful idea for a book. >> overall, philosophically, how do you see the role of government, the role of congress, the role of the president in the economy? >> basically this book raises and answers the question. we need

welcome to forbes on fox and we'll go with steve forbes and rick unger and elizabeth mcdonald and victoria and steve and rich. >> what do you think? >> jobs are going to be destroid even if they don't go overseas. health care costs are goi up. obama care is increasing alert . insurers have to take all comers and that will put a strain on it and mandates, consumers may not want them and politicians say you must have them and insurance costs are going up and we the people will be losers. >>> and the hobby lobby face a fine 1. 5 million if they don't dohat the government said they have to do via the health care law. >> i was corrected. 1.3 million a day. that is the daily fine they have to pay. >> let's make an important distunction we are notuve for dinner bets. mipemine is open for the anybody who doesn't think they will get exempted. i think it is. they have been giving health care to the employees over in the charity for years. theirob ligation is not health care, but it is a religious problem and it is going to be dealt w. i hope that the corporions in the country will take a lesson and

this book. >> how did you meet steve forbes? >> i met him many years ago at an event that i did when i was at the university of southern california. and one thing led to another. i moved to new york, back to new york. i should i'm from new york and started working of course. so elizabeth ames, your practical express prior to working at forbes, how do you inject that into a capitalism will say the? >> basically i've learned a lot since forbes. when i was at forbes i learned a lot about markets. and again i was a journalist. i began as a journalist and i worked at business week many years ago as a journalist, but when i started to work as an entrepreneur, i learned about the fact that you really need to have economic freedom is to create jobs. and it's something i learned personally. and if you're just getting a paycheck you really don't understand how government can affect a small business and job creation. i experienced that firsthand. so that was one of the things that led me to think that this would be a useful idea for a book

steve forbes will be coming up later in the hour. shibani: we will tell you what drove the markets today with today's data down load. stocks gaining momentum in the last hour of trading crawling back from triple digit losses down about 150 points following reports that the house will return to washington on sunday, but that late rally wasn't enough to lift stocks into positive territory, with all three major indices closing lower for the fourth day in a row. materials, financials, amongst the day's top worst performing sectors i should say. new home sales surging to strongest level in more than two years. sales jumping 4.4% from october to an annual rate of 377,000, more good signs that that housing sector much needed to improve the rest of the economy is finally getting a boost. and the number of americans filing new applications for unemployment aid falling to its lowest level in nearly four and a half years. initial claims dropping 12,000 to a seasonally adjusted 350,000 the week prior was revised up by a thousand. david: let's co

i have to go steve forbes. the most supply side oriented tax of all is the tax on risk and wealth, namely capital gains tax, risk wealth high risk stock investment. every time the capital gains tax rate is cut, revenues soar as they did under bill clinton. in fact, president obama was asked this in a tv interview during the campaign and he said i know that's what the numbers show but i still want to raise the top rates. if ever there's a supply side tax rates where lower rates produce higher rates it's capital gains. >> that's right. people start taking gains and hold on to what they have. that means capital is not put to work. in the early 1990s the economy was starting to get a real head of steam. not enough to save george h.w. bush but that slowed in '93 and '94. when republicans came in, cut spending, killed hilary care and alan greenspan had a sensible monetary policy, the economy started to recover and then clinton got the religion, he cut capital gains. >> steve is giving your man all these kudos and you

steve forbes, ceo and chairman of forbes media joins us straight ahead to discuss his plan. liz: prolonged drought? still going on in certain places. look at the screen. pictures that may force the mississippi river to shut down, commerce, billions worth of cargo at risk, not shipping right now, grains you eat to oil and coal you use. we'll take you there live. ♪ ♪ [ male announcer ] this is amy. amy lik invest in the market. s also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobileradi. so she's always ready to ke action, matter how wily.. oweird... or wonderfully the market's behaving... which isn't roct sciee. it's just common sense. from td ameritrade. you know how painful heartburn can b for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms protective barrierhat helps block stomach acid from splashing u relieving the pain quickly. try fast, long lasting gaviscon®. maybe you want toincorporate a busiss. orrotect your family with aill or living trust

steve forbes. we'll talk to a mayor that actually won an award for cost cuttingnd revenue raisin issues. she has advice for the government to make a fiscal cliff deal. you want to stay tuned for this incredible story. >>> cyber thieves are going after your money. you better make sure our money is not wipe out @7 melissa: so if you thought the sigher attacks earlier this fall were scary wait until you hear this. mcafee labs has a new report saying a major bank hat atck is coming in the coming months and this time they're going for your money. it is called project blitzkrieg. get this, in early pilot program they have already stole $5 million from u.s. bank accounts. here to talk about how to protectour hard-earned cash. we have colonel layton, security analyst and former deputy director with the national security agency. colonel, welcome back to the show. i should say colonel cedric layton. >> my pleasure, melissa. great to be with you. melissa: break this down for me. what exactly is going on? >> w

steve forbes. we'll talk to a mayor that actually won an award for cost cutting and revenue raising issues. she has advice for the government to make a fiscal cliff deal. you want to stay tuned for this incredible story. >>> cyber thieves are going after your money. you better make sure our money is not wipe out i always wait until the last minute. can i still sp a gift in time r christmas? yeah, sure you can. great. where's your gift uh... whew. [ male announcer ] break from the holiday sess. ship fedex express by december 22nd for christmadelivery. ♪ [ male announcer ] they are a glowing example of whatt means to be the best. and at this special time of year, they shine evebrighter. come to theinter event and get the mercedes-benz you' always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. at your local why they have a raise yo rate cd. tonight our guest, thomas sargent. nobel laureate

up next is steve forbes. ter that we will be talking with matt bennett about gun background checks and gun sales in the u.s. mr. forbes coming from our studio in new york in just a few minutes after "washington journal" continues. [video clip] >> that they really started to get worried in the summer and fall of 1774. the british admirals and generals and diplomats were reporting to the crown that the colonists were sending ships everywhere to try to get ammunition and muskets and cannon. this was after the british had sent more troops to boston after the boston tea party and the so-called coercive acts, and it's clear that the colonists were pulling together ammunition and cannon. maybe they didn't intend to use it. that was a big debate. the king on october 1774 basically prohibited british ships from taking ammunition and everything to the colonies unless it was officially sanctioned. they were very alert to this. as soon as the colonies found out about the order prohibiting ammunition and munitions from bei

we have steve forbes, chairman and editor and chief of forbes media and howard dean, former governor of vermont and also former chairman of the democratic national committee. great to have you both with us today. >> we'll stand back and let the political flack go at it. >> and have you eight minutes so a lot of time to go at it. first of all, steve, fantastic to see you. >> good to see you. >> what do you propose? >> first, they extend this thing for six months. the idea you're going to reform tax code and entitlement between now and christmas is preposterous and pike on taxes right now, putting extra taxes on the economy right now when we're slowing down in the fourth quarter. i was just in europe. they are in a deep recession. france and germany are going recession. japan's already in recession. they are doing the same thing the democrats want to do here. put on new taxes, and they are just putting their economies in a death spiral. >> this is no time for austerity is what you're argueing? >> what i'm arguing is don't put extra taxes on the economy. we know from europe and japan th

. >> coming up next, more americans are doing more of this and les of this andhy boss steve forbes your lates headlines. >> as the clock ticks down. new report shows that american workers areot using up all of the vacation time they are said to be seen as lazy and losing their job. is is a good sign for the economy. how so, steve. not for those two reasons . we don't have too much vacation or little. we do it just right. europe had work like we did. you want lopping beer vacation you can have a stagnant economy like europe. we raise taxes we'll have longer vacation but fewer jobbings. >> you are right. we don't want to be like the french. and ople here i the united states and government union. and i was on vacatn and check my blackberry and read a ri unger e-mail while on vacation. >> you are never onacation. >> you work it anyway. nine out of the 10 are checking their work phones. any time to rejuvenate and come back ragged. >> we need that vacation time to work better. >> when you say ecomy you are talking about gdp. good or ill it is major transaction. have everyone never talk a day

. >> coming up next, more americans are doing more of this and less of this and why boss steve forbes said americans take less raication time is good news his staff agree? >> it is making it loud and clear and. it makes a great gift. it is availablination wide. live from america's news headquarterings. all eyes on the weather radar as more snow is heading not northeast. there is several inches in inloaned areas. two powerful systems expected to come up the east coast today. states are issues severe weather warnings. it is down to the wire. scramble since we have watched the economy go off the major cliff. president obama is saying they will have a agreement. this later on america's news headquarters. now back to forbes on fox . for all of your latest headlines. >> as the clock ticks down. new report shows that american workers are not using up all of the vacation time. they are said to be seen as lazy and losing their job. this is a good sign for the economy. how so, steve. not for those two reasons . we don't have too much vacation or little. we do it just right. europe had work like

i agree with steve forbes that flow currencies, which is the standard value by which every entrepreneur has to guide and has decisions it's like floating our so that people wouldn't have to work so much. one man could have the power worth 50 minutes. the next come the 70 minute and needs in-house default swaps and insurance policies. just to guide the economy. one of the things that's happened over the last decade is that we've had a hypertrophy of finance and the reason of the excess and waste so much wealth and the economy is migrated to finance is because the currency is so unstable, that so much money can be made, betting on the ups and downs of our currency against foreign currencies. this is a big danger today. a lot of people attack the chinese for manipulating the currency. but the chinese just want to keep the currency stable. i saw the chinese want to do. they want to maintain the dollar as a standard of value. it's a saturday botching the currency. the threat to the american dollar does not come in beijing. they defend the dollar. the threat comes from washington and wall str

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host: we have been talking with steve forbes, chair of the forbes co., and author of several books. "why big free markets are moral and why big government is not." thank you for joining us. >> we've got a special web page set up for all things related to the so-called fiscal cliff. the house coming back sunday evening about 6:30 for legislation business. this may be a busy weekend for the fiscal cliff. we have a twitter stream from viewers and reporterers. a resource area with documents. it is there when you need it at c-span. .org/fiscal cliff. >> if we turn away from the needs of others we are lining ourselves with those forces that are bringing about this suffering. >> the white house is a pull bit and you ought to take advantage of it. >> obesity is nothing short of a public health crisis. >> i think i have little antennas that went up and told me when somebody had their own agenda. >> there is so much influence in that office, it is a shame to waste it. >> i think they serve on a window on the past as to what is going on with the american women. >> she is really, the only one i

interviews, endearing, and put the burden on him and the third is rebellion and charles krauthammer and steve forbes the media like that story the least. >> i think there's a 6th story, jim. which is the media that quote progressive media of msnbc, tipping down to the white house to have an earnest chat to chat with the president about how important not going over the fiscal cliff is, and how important it is that they persuade their viewers to lean on those people who oppose them, so that they can actually avoid the cliff. that's amazing. >> you know, the media did not include the people who are not included, there was tom hartman, allen colmes and a lot of people who the white house left out of that meeting and in terms of who they put up and put out. media put out the story without doing their homework. >> there was a column by george will, bewitched by obama, even jonathan swift who said that promises and pie crusts are made to be broken and marvelled at the limited shelf life of a barack obama's promise of balanced debt reduction plan. is there any media pressure on the white house? >> there's n

. >> steve forbes, and gen and barbara bush on growing up in the white house, sunday evening at 7:30 eastern and pacific. right through christmas day on c-span3. members of the senate foreign relations committee received a top-secret closed briefing wednesday on the september 11 attack on the u.s. consulate and then got the -- in benghazi libya. this is about 12 minutes. >> what do you think of that finding and [inaudible] >> my understanding is that the standard with which the accountability board looks at people is a very high standard. it is called a breach of duty. there is no question that there were people within the state department that were remiss and did not execute in an appropriate way. there are also some cultural issues. there were no doubt a number of fallen. to that end, i know that secretary clinton was unable to be able to testify tomorrow in an open setting. i do think it is imperative that she testify in an open session, prior to any changing. i'd think that is very important for her. i think that is very important for our country, and important for the country to

bush, steve forbes all weigh in. and then at 9 p.m. craig whitney sits down with the former president of the brady campaign to prevent gun violence to discuss his book "living with guns: a liberal's case for the second amendment." watch these programs and more all weekend long on booktv. for a complete schedule, visit booktv.org. >>

steve forbes saying fight, fight. pressure the president. then you have democrats, labor unio unions, the aarp saying we don't need to think about raising the retirement age. every time you have a short term play special interest dig in. until they erase the trust deficit, every time they do it incrementally they make it harder to do the big stuff. >> notwithstanding the problems in this conversation and notwithstanding problems from washington, there is some economic renaissance that's brewing under the surface here. we have an energy boom going on, low energy prices. we have manufacturing output increasing in this country. we have the housing boom with low interest rates to stay for a couple of yearses. is there enough that could happen that could offset what's going on in washington? can we grow our way out of this? >> we can't ignore them. if they blow it, there is nothing we can do. the risks are becoming more balanced where things like the housing recovery, consumer debt coming down are starting to offer the possibility where growth mi

bush, steve forbes all weigh in. craig whitney sits down with the former president of the brady campaign to prevent gun violation to discuss his book, "living with guns." watch these programs and more all weekend long on booktv. and for a complete schedule, visit booktv.org. >> booktv is here at the annual national press club authors' night, and joining us now is author arkansas run aruno has written a book called first cameraman. what's your association with the obama campaign? >> well, in 2008 on the obama campaign i was his personal videographer which is something i carried through to the first two and a half years of the white house. and this last cycle, actually, did not work on the campaign formally or at the white house, i worked in that new and strange, murky world of super pacs and pac and independent can expenditures. >> talk to us about the campaign in 2008. how'd you get hooked up with the president? >> well, there was an ad in craig's list -- no, that's actually not the case. it was right place, right ti

steve forbes says nobody should pay more in taxes, but howard dean says everybody needs to pay more in taxes. they will battle it out right here on the "closing bell." it is pay-per-view material right there coming up on cnbc, first in business worldwide. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho! this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird...

james gustav, steve forbes and george gilder all weigh in. watch this and more all weekend long on booktv. for a complete schedule, visit booktv.org. >> now, from albany, new york, we hear about the state-mandated new york state writer's institute. the program promotes cultural initiatives through author presentations, workshops, film screen things and more -- screenings and more. >> i can see each event just as vividly as i can see the posters before me. i'm donald faulkner, i'm director of the new york state writer's institute, and what we do, what i do is kind of herd intellectual cats. we bring a lot of writers through to albany to do readings, we also do a number of other types of programs, events, writing workshops and film series and programs with young writers and a summer institute that we run in saratoga. >> the life of the -- my life in the last few years was, i suppose you'd call it adventurous. but this thing ruined everything. [laughter] >> we go far and wide, find the best writers that we can and bring them to albany. it's like

steve forbes had an idea before its time.mething big and bold like that and we could be on our way to a stronger economic recovery. >> steve: there is a lot of people who love the idea of a flat tax. but given the political dynamic in washington, d.c. where the senate is controlled by democrats -- >> i think the flat tax brings people together. >> gretchen: who is against a flat tax? >> well, you'll start to see things, like they'll question whether the mortgage tax reduction will come out. then you get -- >> brian: charitable deductions. >> 10% of americans work for charities. everybody starts to think, yes, that works and we think it would be great, except it would hurt my business. it is a leap. it is very bold and it would be a little bit of a transition period but president obama could have done it. i agree with congressman, it will be nice if people would talk about it, but with they're not even talk being entitlement reform. so they're not going to talk about taxes. >> brian: we're talk being you on "the five." i would

steve forbes joining us with his warning for washington and why he fears a recession imi

joined now by steve forbes with his thoughts on which is more likely. wonderful to see you. harming the patient. start there. >> it's going to make things worse. europe is doing it, southern europe. it keeps raising. the economy contracts even more. about to go in recession. japan raising taxes. why in the world we would apply that poison to ourselves. lori: that is the ultimatum from the white house, as you know. because of the president's reelection they have the leverage. so are the republicans going to have any choice but to cave especially on the issue of raising taxes for higher-income americans? >> well, there are small business owners. 63 percent, and people who create capitol, invest capital. we have seen in europe and france especially, that kind of thing does not work. he does not have a mandate to hurt the economy which is the way the republicans should phrase this thing. why harm the economy now. lori: edges of the economy fall off the cliff to iraq or raising the tax on the wealthy. >> with the republicans should do, making the point they're raising taxes is a

we will be joined by steve forbes. later, discussion on background checks, how they work, who gets them, and when they are required. our guest is matt bennett. "washington journal," live at 7:00 a.m. eastern on c-span. a cornell university law professor has written books on increasing stock prices. she spoke about what she described as the corporate world in the effort to maximize profits in the short term, but but greater the long-term value of any company. [applause] >> good evening, everyone, and welcome. professor lynn stout is a distinguished professor at the cornell university law school. our work focuses on the intersection of law, business, and morality -- her work focuses on the intersection of law, business, and morality. she has worked with many organizations around the world, including the clinton global initiative. in 2012, she was named tom on the economy -- top on the economy. her new book is the shareholder yth.es met please welcome professor lynn stout. [applause] >> thank you, charles, for that kind i

up next is steve forbes. >> later, more members -- interviews with retiring members of congress. retiring nebraska senator bill nelson -- he served two terms and was part of the so-called gang of 14 to negotiate a compromise over judicial negotiations. 40 minutes later, interviews with two retiring house members. first, california republican jerry lewis, who chaired the appropriations committee. later, a conversation with california democrat lynn woolsey. >> i enjoy that it is straight forward. it is comprehensive. it has what is happening without a pundit interjecting. that is what i really appreciate about c-span. is a great resource for anyone looking to become more familiar with how government works. >> julie watches c-span on bryson. c-span -- created by america's cable companies in 1979. brought you as a public service by your television provider. >> a look at the u.s. capitol here, where work continues in an effort to avoid the so-called fiscal clift of tax hikes and spending cuts that will take effect jan. 1. earlier, the house dabbled in for a pro forma session with no l

of the point i make in the book the fairest system of them all would be a flat tax, something steve forbes 1990s keeps rates low and broadens the base and makes everybody pay their fair share. >> let's go to the book, in fairness, one of the arguments you make is that the president wants to make everybody poor. is that fair? >> well, i don't know if he wants to make everyone poor but -- >> equally poor. >> let me put it like this. a good tax system tries to make poor people rich, it doesn't try to make rich people poor and sometimes i think the president gets that confused. a lot of this talk about raising tax rates. look, we know from history raising tax rates isn't going to raise much revenues. over the last hundred years, i document this in the book, every time we cut tax rates in the 'twen '20s and '60s and '80s we increase revenues. i'm pointing out this isn't an effective way to raise revenues if we are going to do that. >>> understand the concept. do you recognize there are some disparities out of whack at this point. >> what do you mean by disparities? >> economic disparities in ou

and ceo harry wilson joins us as guest host, plus, we rise above with forbes editor-in-chief, steve forbeswk box" starting at 6:00 a.m. eastern. profit from it. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. >>> welcome back, everybody. checking the futures, dow up by 3 points. on the ongoing supremacy battle between facebook and twitter. facebook's instagram disallowed allow i allowing photos to twitter and in return, twitter is changing things similar to instagram, making pictures black and white. instagram exceeded twitter in daily users and the two have been sparring for the same advertisers. co-founder was originally an investor in instagram and once sought to buy the company. >> you e

did you see steve forbes talk about it?y all wrong, john, just because they differ from what you believe? >> you're wrong. >> you're wrong four times plus one to infinity. >> no, no, joe, i'm sorry, joe -- >> your words are more inappropriate than mine. >> no. you're getting more full of it by the second. >> oh, please. >> why don't we do it this wie, john. based on the -- >> look, our spending problems -- hold on a second. hold on a second. >> when geithner said on our air we are fully ready to go, you must not have been listening. >> they are ready to go over the cliff. they're ready to go over the cliff. >> and get 250 above. >> the alternative is a set of policies that were rejected by the american people in the election and aren't consistent with the reality of our governsance. >> to get 50% to raise taxes on 2% so that they can get 2% that they're raising? this is not a definitive -- >> no. come on. >> does john boehner lose his leadership position? does eric cantor have to come in? >> what's that? >> does john boehne

we are joined by steve forbes. later, a discussion on background checks, how they work, who gets them, and when they are required. our guest is matt denn it. washington journal live at 7:00 a.m. eastern on c-span. >> i just enjoy that it is straight forward, comprehensive, and you can really sense what is happening without a pundit interjecting, and that is what i really appreciate about c-span. it is definitely a great resource for anyone looking to become more familiar with how government works and the ins and outs of capitol hill. >> c-span, created by america's cable companies in 1979. brought to you as a public service by your television provider. >> now, state and defense department officials testified at a hearing on violence in the eastern congo. a rebel group of congolese army defectors has been terrorizing people. the congolese army, with the aid of u.n. peacekeepers, has been battling the defectors for the past eight months. this is an hour and 40 minutes. >> the situation in the democratic republic of c

and steve forbes, arthur laugher a number of people are going to be pushing that this week.ou will see. that's a fair share. that's what we ought to do. the compromise will be on what we cut. good grief, in the house we cut 11% over the last two years of our own budget. we should be demand and our leadership hasn't done it yet. 11% cut across the board throughout the government. this president is not even talking about it. he is talking about increasing spending. >> do you like the president's -- i'm curious your take on the president's populist argument right now. is he out there on the campaign trail again trying to sell this to the american people. >> that's what he does do. is he campaigner in chief. that's what he does well. >> isn't he looking at those polls showing that the republicans have been beaten down. the polls show if this happens most of the american people would blame the republicans. >> but he has been so abusive as of yesterday. so arrogant in what his demands are. you know, just virtually unlimited power. i think he has gone so far now that he he has even

steve forbes has been talking about it for years. rand paul had an article out a year or so ago, flat tax. my friend, mike burgess, has a proposal. many of us have proposals. mine is, look, you talk about want warren buffett to pay what his secretary does, yet you haven't made one proposal that will bring warren buffett to pay what his secretary does. that's crazy. that's why we shouldn't eliminate the word lunatic. it really has application around this town. so if you want to have -- and warren buffett ought to take heed, you run around telling people, yeah, rich people should pay more taxes, well, he's not. he's not going to pay more. not on any of the proposals that the president has run around endorsing. well, how about a flat tax that says 15% capital gains tax, what warren buffett pay, 15% for his secretary, 15% gift tax. let's just go 15% across the board. 15% corporate tax. and the irony is that the economy would so explode, so many more people would be employed, so many more people would be making more money that the revenue

steve jobs. we'll get to the bottom of that. the ceo joins us now. >> thanks for having me. >> since the last time i've seen you you've been on the cover of forbes asst, right before we saw you last time on the show. and the things have changed dramatically. air now being called the innovator of the year and compared to steve jobs for your innovation. tell me how square is changing the face of american business? >> we start with a simple idea which was, you know, my parents were entrepreneurs. they started up local businesses and my father started a pizza restaurants when he was a kid and my mother the coffee store and they face the challenges just starting up. and also accepting patients extremely challenges, so we made it easy for any small business or neighborhood place it instantly accept credit cards by giving them a free credit card reader and accept credit cards for 2.75% and we signed up over 3 million merchants. >> i have to say when i went to, i drive up past the farmers market and there were people there selling the local farm stuff, fruits and vegetables and organic beef and crafts and those things of things. almost all of them were usi