that's steve forbe, why i wanted to link it to king dollar. people will think i'm nut, but i don't think i'm nuts. i like to see gold linked to the dollar. >> it's the only way to go and eventually it will happen, larry. we did it for the first few years of our existence and it provides stabl they nothing else does. all right. what happens if the fed tightens more. you may not agree with me, but i think this is a deflationary signal. what's your thought? >> i think the market's realizing what the fed has done in the last couple of years and that has dam individual of this money that's created and it hauls it back in and the question is as rates start to go up, will it start raising rates that it pays on reserves and how much reserves over 2 trillion and will they trickle back to the real economy? >> you're saying, okay. the fed's payment of all of the reserves. the fed buys bonds, pays for them in cash. the banks take the cash and put it on deposit at the federal reserve and they get 25 basis points. >> you're saying that's stifling credit cre

liz: steve forbes, forbes media chairman and editor-in-chief. good to see you. to hear this. the financial times reporter has just put out a tweet. remember, this is the financial times report released today that applied in bernanke would signal that the fed would begin their tapering cent. the author of that piece has posted the following tweet in the wake of all the drama because he saw the market's fall pretty precipitously. hearing is, but people need to chill out. the fed does not leaked anything to any journalist to steer markets, especially during blackouts. blackouts of course. the article which read about 2:30 p.m. eastern time said that the federal reserve would start telegraphing tapering and at least a point of the calendar time when which would be wednesday because they have a two day meeting. but listen, the markets took such a drop they still remain higher, but off 195 points to the upside on the dow. the chill out tweet. david: i would think he would want to take credit for moving the markets. liz: i think they're trying to say, you know what, it

steve forbes, jump in here. give me your thoughts on what the fed said. was it appropriate the market sold off on that suggestion that later on this year the tapering begins? >> actually, it's going to be good for the market long term if the federal reserve tapers off. that's going to mean less distortion in the credit markets, greater flow of credit to small companies, especially unincorporated businesses. and so, it would be a positive. if market does well when the economy does well. this is just a short-term thing of people addicted to sugar, get them off the sugar, they'll be fine. >> do you think job growth is strong enough? the last four reports, the average growth rate has been about 194,000 jobs. chairman bernanke was suggesting, you know, he's throwing out the caveat that we're talking about a timetable of starting the tapering later this year, assuming that that kind of job growth continues. do you think it will? >> i think, actually, he's doing better, if you look at the household survey, which means it's small businesses that may be more robus

steve forbes will be here to talk about this and nsa scandal. how far does the dragnet reach?ng up. [ male announcer ] citibank's app for ipad makes it easy for ann to manage her finances when she's on the go. even when she's not going anywhere. citi tablet apps. easier banking. standard at citibank. helps him deposit his checks. jay also like it when mother nature helps him wash his car. mother nature's cool like that. citibank mobile check deposit. easier banking. standard at citibank. >> can you tell s >>. >>>ho implement that transparency and there is some skepticism. how will we implement that? >> there are more questions going forward. i'll get back to the irs and geta,fe to work. >> just answers the questions. i'll get back to the irs and get to work. thank you. >> do you think the agency deserve an apology if the direction came from above? >> greta: irs commissioner coming under fire both outside and inside the hearingering room. demanding the irs why they have not fired lois lerner. >> is she still being paid today? >> she is. >> is that your definition of accountabil

steve forbes, ricking unger, richard karl guard, elizabeth mcdonald and john tandy. steve, first, is this the solution everybody's been looking for? >> absolutely. getting free markets in health care is the only way to go, doing away with the disconnect between providers and consumers we don't have free markets today. if we did, you'd get productivity, turn very expensive procedures today into more common place things tomorrow. so this is it a good start. it can start with simple routine things an go right up to the most sophisticated surgery. when patients are in charge, it's their money, by golly you get real bargains, including lasik surgery costs less today than it did ten years ago. why? because there's not that disconnect between providers and consumers. >> it's not just the patients. when patients and doctors together go around looking for bargains, that's what brings down the prices, rick unger. i'm looking at some of his menu here, if you will, of what he offers, an office visit is 75 bucks, including a diabetes follow-up if you need one. a joint injection o

let's go in focus with steve forbes, elizabe mcdonald, rich carl, rick unger and morgan brennan. good to see you all. ste, first to you. should we really trust these guys with our health records? >> of course not, david. their new name is now the internal revenge service. they've fundamentally own the trf the american people. and if a 29-year-old can blow the lid off of our most secret intelgence secrets, why in the world would we trust the irs? i don't know why there's a debate on this, david. >> morgan, most americans, 76% don't trust the irs to enforce obamacare. e they right or wrwrong? >> i understandwhy they don't ust the irs. i have my issues with the irs. but looking athat obamacare essentially boilsownto, which is a massive tax package according to the supreme court last year who else will enforce it? we're talking 47 tax code-related provisions and 17 tax increases. this falls to the irs. ihink the bigger issue isn't whether we should trust the irs. i think the bigger issue is the fact that we have murky, poorly itten legislation. i think if there's any kind of scandal

i say it should be steve forbes, but we will weigh all the option, all those stories and more coming up on "the kudlow report" beginning right now. good evening, everyone, i'm larry kudlow. welcome back to "the kudlow report" t.irs scandal is heating up. up with of the key players, republican congressman darryl issa had this to say about how high up this thing could go. >> the administration is still, their paid liar, their spokesperson, he is still making up thins about what happens in calling this local rogue. there is no indication. the reason that lois lerner tried to take the fifth is not because there's a rogue in cincinnati. it's because this is a problem that was coordinated in all likelihood right out of washington headquarters and we're getting to proving it. >> all right. let talk about this whole thing and how high up the food chain we can say. here now is guy benson, the political editor. media editor with the national review and our distinguished co-host of the evening aei kris visiting chancellor ed kunard. author of the book "unintended consequences." you filed a stor

bring in steve forbes on this. >> he will do it into the coal industries.l. he does not like oil. he does not like gas. he still thinks windmills are the wave of the future. >> tax reform. i know you wanted. i know i wanted. it will not ever happen in the next three years, is it. >> if the president wanted it, we would get it. this president takes away the reductions and raises the rates. that is not real tax reform. unfortunately, what he wants in return is so onerous. he will take away the deductions and only have the nominal deductions in the corporate tax rate. i am afraid that maybe sue is right here. a better way is to get a president that believes in tax reform. >> time is flying here on this bone -- bonus hour of "varney & company." words about china's bank send our market tumbling. is anything private anymore? ♪ ♪ stuart: china stocks tumbled this morning. that is because there are worries about some china banks in the central bank said, hey, you guys are on your own. we are not going to give you a ton of money. is this china story a big deal to yo

forbes media chairman and editor-in-chief steve forbes joins us. >> good to see you, greta. >> greta: how do we make sure we have real action to clean things up? >> i think ultimately the only way, yes, you'll have more congressional investigations, which have been very educational, but ultimately i think we need a special prosecutor, who has subpoena powers, the powers to call grand juries, who can do a systemic investigation, who can start from people right on the ground and go up the chain, right into the white house. we had an irs commissioner, as we know, paid over 150 visits to the white house when his predecessor paid one visit to the white house. you have to do intein a systemic way. i don't like special prosecutors, but the abuse here, where they just didn't go after an enemies list, but citizens all around the country of a particular political persuasion, we have to have that kind of special prosecutor today. >> greta: if it furnishe turns t the president had nothing to do with this, no knowledge, totally confined within the irs, does he still have responsibility being the h

forbes on fox. we'll go with steve and rick and rich and elizabeth and sabrina and john. john, should customers like be able to sue in >> yes, we should be. companies shouldot be helping the federal government to snoop on us. we have to ask ourselves how much liberty we are willing to give up in order to create the false illusion of security. to live in a fro society, ris are involved. the risks are worth too have what we have. >> steve, if i am buying a service and i don't want them to share the service with the government should i be able to sue them if they do it against my will? >> companies for a impossible position. ifhey help out the government they are snooping on privacy. if they don't help out the government they are helping terrorist. the focus should be on the government and labuses, don bring companies that are doing the best and caught in an impossible position. >> sabrina,he government made some of the companies their partners. >> we are tang a giant step to tional socialism if our companies claim immuneitty. the government doesn't need to own the means of

forbes media chairman and editor-in-chief steve forbes joins us. >> good to see you, greta. >> greta: how do we make sure we have real action to clean things up? >> i think ultimately the only way, yes, you'll have more congressional investigations, which have been very educational, but ultimately i think we need a special prosecutor, who has subpoena powers, the powers to call grand juries, who can do a systemic investigation, who can start from people right on the ground and go up the chain, right into the white house. we had an irs commissioner, as we know, paid over 150 visits to the white house when his predecessor paid one visit to the white house. you have to do intein a systemic way. i don't like special prosecutors, but the abuse here, where they just didn't go after an enemies list, but citizens all around the country of a particular political persuasion, we have to have that kind of special prosecutor today. >> greta: if it furnishe turns t the president had nothing to do with this, no knowledge, totally confined within the irs, does he still have responsibility being the h

let's go in focus with steve forbes, elizabe mcdonald, rich carl, rick ung a

steve forbes, ricking unger, richard karl guard, elizabeth mcdonald

. >> greta: steve forbes said there should be a special prosecutor that would be appointed by the attorneyral. would you have a problem with that to investigate the irs targeting? >> i would. ideally we should have a special prosecutor. if the attorney general appoints somebody that is going to run interference on an investigation, that could make it more difficult for congress to exercise its oversight function. i think we need to continue what we are doing on oversight. there sl will be more coming out links to washington, d.c. i would want want somebody that is really on the up and up and witnesses say it's a criminal investigation. i can't talk to donning because i was told by investigators its criminal case. >> greta: congressman, thank you, sir. >> straight ahead, and kathleen sebelius, is he is breaking the law or simply following the law? they are trying to get to the bottom of the fund-raising and what is the latest on what they have discovered, next. ♪ ♪ ♪ [ male announcer ] for dad's first job as dad. nissan tests hundreds of child seats to give you a better fit and a safer trip

currencies gold has gone up and that's why there's consideration for many not only ron paul but steve forbes and others to talk about having some sort of modified gold standard where fiar currencies are anchored by hard assets though there is a renewed push to go gold some economists say a move back to the gold standard would be disastrous it doesn't make any sense at all i mean it would cause the great recession united states was an eight trillion dollar housing bubble a housing bubble that led to last construction and consumer consumption those opposed to bringing back the gold standard say fears of inflation are overblown the federal reserve created over two point three trillion dollars since two thousand and eight and inflation is running at about one point one percent annually right now over the last twelve months so. it's kind of. unworkable solution to in the existing problem but the problem real or perceived is triggering a gold rush of sorts but more citizens and states losing faith in the decisions made here in washington liz wall r.t. . well in a new twist on the obama administrat

editor-in-chief steve forbes, great to have you with us. qe appears to be at an end, sort of. $85 billion continues, the rates are moving higher, so that will be problematic. your thoughts on the timing on all of thisy the fed chairman. >> three years late, better late than never, what ben bernanke has done inadvertently this make it easier for the vernment to deficit spending, get back on their feet, issue newonds but for the rest of the economy, smaller businesses like with what they said in russia, health care is free but you can't get any. they a thehe job creators, they are hurt by what bernanke did. not much left for the small guys. lou: a lot of lilimited government, some of them are anti-fed. oh, my gosh, we cannot conclude it a $5 billion per month. i do not like what he has done, bbt don't let him reverse course here. there is a chorus of hypocrisy in pleading for more punch bowl, please. >> it is hard to give up when you have it. bernanke will not do this precipitously, will not do it rapidly. the marketas grossly overreacted tha

dodon't understand it, but i've talked to steve forbes. he makes aretty compelling case for it. the fair tax i don't know enough about to discuss. i think we ought to take advantage. the interests are going to line up. it will be unbelievable. >> do you think the democrats would support a flat tax? >> i do. >> wow. it's the same problem now. you still have irs, you still have loopholes, carveouts. you go to fair tax, there is no irs. there is no loop hole. >> who is going to collect the taxes? >> that's all you have to do. >> that's all you need. >> businesses collect the taxes. >> you hear that, washington, ver let a crisis go to waste. tax reform, even beckel's on board. >>> up next, a major announcement from new jersey governor chris christie on the replacement for democratic senator frank lautenberg who passed away yesterday. you'll hear from the governor when we come back. ♪ >> eric: when senator frank lautenberg died yesterday, he left governor chris christie with a big decision, appoint an interim senator or wait for the elections in 2014. here's the governor today. >> th

which is why i think there's a need for sober analysis of steve forbes type of sober analysis where thenomy is. your not getting anything from the press about the economy, which is rather disconcerting. i'm not -- it's very true. your network is very serious. cnbc is serious but nobody else is. >> and fox business but that's okay. >> one of the things i do want to raise with you is what you raised outside the capitol what raised outside the capitol yesterday. because this got a lot of people talking, this big tea party rally. i want you to react to yourself. this was interesting. >> i have one more message about the national news media that have been aiding and abetting this censorship by not reporting to the american people! they're here. they're all around you! i want you to give them all a big hug. give them all a big kiss. and then tell them, damn you! do your jobs! report this story! >> do your jobs! >> wow. well, actually, they didn't give you much coverage, though. that was kind of weird. it was like the rally that never happened. >> well, first, i want to say that what you just

tomorrow night i'll be joined on set by my pal steve forbes for the entire hour. i'm larry kudlow.for watching. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." i'm on expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for, because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. if you've got it, you know how hard it can be to breathe and man, you know how that feels. copd i

steve forbes, grover norquist, amongst any. are you ready? >> we are always ready. a breaking story. additional information on doug shuman, his political aide, a number of visit to the white house by his political aide. >> yes. the chief of staff, a man named jonathan davis, his top political aide visited the white house between fall of 2009 and february of this year a whopping 310 times. you have to ask what is he doing in the white house. we are supposed to trust the irs. what is he doing at the obama white house the hundred ten times. stuart: when asked why he had been there, and he said the easter egg roll with my kids. they are clamming up. i want to get to the bottom of this. we will next week with an extra hour. believe me. now here is dagen. dagen: thank you, stuart. back in the green. barely. it was poorly timed. that is what st. louis federal reserve bank is saying about bernanke. give thanks to the pups. how it may boost productivity. all of that and so much more coming up on "market now." ♪ connell: i know you want to talk about those dogs, which we will

i promote a 17% flat tax like steve forbes did, very few if any de, it is. for individuals and same for corporate. this would make us competitive worldwide. we would make it simple enough. what you have is attrition, if not outright elimination of the irs because it would be so simple people would comply and very simple to know whether they complied or not. martha: you've been one of the individuals who has been outspoken on those issues. whether or not there is the traction and momentum for it in washington i know it is something you personally would like to see and battle for. so we'll see. senator, thank you very much. good to talk to you today. >> thank you. bill: 24 minutes before the hour and kathleen sebelius could save her life but the health and human services secretary will not do it. her explanation for not stepping in and helping a 10-year-old get a lung transplant or at least be on the list to receive one, as a dying girl's mother tries to comprehend that decision. >> she's a mother. she is a grandmother. how can she say it is okay for my child

welcome to forbes on fox. we'll have steve fosh and rick and elizabeth and mike and bill baldwin. >> taxate cuts are always a good idea. reduce the price, risk taking and success and this is the way to get the economy moving and does go things for the balance sheet. when people see prospects for growth they upthe value o assets. >> rick, this is the weakest recovery that we've had since world war ii. 2.3 million fewer people are working now than the ession. please don't blame it all on bush? >> i had forgotten about him. i have a vague memory. i would love to agree with steve. i don't like pay taxes anymore than the next person does. there was a in- dth study by the congressional research that s skwalch by the republicans who ordered it and tat survey shed that over the 40 years tting taxes. >> o no, it doesn't. >> yes, it does. >> y will get an argument. >> we have our study and you have yours. >> it was the national research service. >> john, the growth was estimated 2.4 percent and the latest figure 1.8 percent and a emendo

welcome to forbes on fox. we'll have steveosh and rick and elizabeth and mike and bill baldwin. >> taxate cuts are always a good idea. reduce the price, risk taking and success and this is the way to get

it is absurd what the irs has been doing and, tucker, it is time as arthur laugher says, as steve forbesny have been saying for years. get rid of the irs. let's go to a flat tax. some say a fair tax. but as arthur was telling me a couple weeks ago, look, you can have a flat tax. get rid of the irs and not have an agency that has all the authority and the scary ability of the irs have an auditing agency without the teeth that the irs has. >> tucker: raise more money and do it more fairly. >> i will tell you what though, in the old days you take a chance if you confront the irs about anything, even if you are in congress. so it's bold what's going on but it has to go on. we have got to clean this mess up. >> tucker: congressman gohmert thanks for being with us. >> thank you. >> tucker: woman gave her kidney to save her boss' life. what did she get in turn? she got fired. it's a flying dry cleaning? meet the business that's using drones to deliver. coming up. ♪ when you experience something great, you want to share it. with everyone. that's why more customers recommend verizon, america's la

forbes on fox. we'll go with steve and rick and rich and elizabeth and sabrina and john.n, ould customers like us be able to sue in >> yes, we should be. companies should not be helping the federal government to snoop on us. we have to ask ourselves how

steve, everything that happens here stays re. we have your word on that. >> absolutely. >> jo, you are safe. >> coming up, the forbes list of powerful celebrities on line. most powerful celebrity stocks at you will only get right here, that is coming up next.