up next, steve forbes, forbes media chairman and editor-in-chief will sound off on that. when it comes to getting a close shave one startup thinks it can make the cut financially that is with the help of a very unique advertising campaign. david: that is a good word. that's a good word. that's a hedge word, folks. cheryl: this is the start of the campaign. this is the ceo. he will be here next. do not miss it. ♪ ♪ [ male announcer ] now, taking care of things at home is just a tap away. ♪ introducing at&t digital life... ♪ ...personalized home security and automation... [ lock clicks ] ...that lets you loser to home. that's so cool. [ male announcer ] get $100 in instant savings when you order digital life smart security. limited availability in select markets. ♪ david: the fed giveth and the fed taketh away. the market tooks its lumps today after uncertainty again creeped in about how much longer the fed would be printing money to buy bonds. this followed of course market rallies on monday and wednesday based on dovish indications from the fed on those days. what does it

focus with steve forbes, john tandy, rich unger, rich karlgaard, sabrina. some things?you get more taxes. the government is running so it you get less supply and less innovation. at the end of the day you get less longevity and more pain. in other countries it's higher taxes or less supply of healthcare. they can't get around it. >> david: rick, we had a solemn promise by the president selling this that the taxes would not go up. now, he admits, first, he violated that promise. this will hit people and their pockets. >> we had a solid promise that the president would not raise taxes on people earning less than $250 ,000. >> david: he said taxes would never go up. >> he didn't say that -- >> david: he did. he said it would pay for itself. taxes wouldn't go up. >> i don't know how he said taxes wouldn't go up when he imposed certain taxes by itself. i'll tell you where you are right. this is why you didn't elect the president. oh, wait. yes, they did. he raised taxes on people going in tanning booths. you pay taxes if you go to indoor tanning booth. he cut the deduction.

that's why i have always believed steve forbes had it right. go back to an 18 percent flat tax cut all of the reductions and loopholes make it as simple as possible collect the money you need but don't make all of the special interest groups. people most opposed to the flat tax are people in washington, d.c. because you take the power away from washington. >> when we went into revolt americans in the colonies were paying 2 percent. our oppress years the brits in london were paying 20 percent. it's expensive running an empire. we need to go back to 2 percent. i like 2 percent rather than 18. >> 2 percent -- to be clear we are at 40 percent that includes state and local. >> yeah. putting it towards 2 percent we function fairly well beyond that and the reason the british were taxes themselves at 20 percent is they were running an empire. a oo thank you grover and steve. coming up when governments can't raise taxes any more they find other ways to please people like devaluing the currency. america is doing it right now. didn't work out well for rom

first we hear from a conservative and libertarian the conservative, steve forbes you have some libertarian leaningserta, and as historian with an expert on rome, a libertarian matt can be with freedom works. are we becoming rome? >> i think so. the parallel is quite>> ominous the debt and expansion of foreign policy the arrogance of executive politics taking over the country by do think we have a chance to stop it. >> i do think there are similarities with the fallb of the empire but also thef fall of the republic that was 500 years earlier. there the romans were engaging in unconstitutional acts of political leaders. john: like stuffing ballot boxes or corruption? >> that did have been under and that is bad obviously but that doesn't bother me as the overt fame. this. elected six years in a row it was a term limit out one year. people just knew that it was unconstitutional. john: now people are passing laws they have not read. tha >> and the presidents of both parties legislating by executive order to say ia will montforts certain laws bureaucrats legislating through legislation and supre

hear to weigh in, are forbes media chairman steve forbes.arvard university's jeff mir ran and economist peter morici. well come to the show all of you. steve force, let me start with you. what does this achieve in your mind? >> all this achieves trying to have companies pay workers more in terms of what ceo gets it is determined by marketplace whether in sports or people that run a major enterprise. until somebody becomes a ceo, as in sports you don't know if they work out or not. if they work out they're cheap at any price and if they don't they're expensive at any price. you don't know until you put them in a real top spot. melissa: jeff, they made the point that the american worker has gone from a ratio of 195 to 1, ceo pay to the average worker in 1993 to 354 to 1 in 2012. both of those ratios sound enormous. there's a giant gap between what the ceo is making and what the average person was. do those numbers mean anything this average person? if it is gone up from 350 to 1, to, 195 to 1, those are outrage just numbers. >> i don't know wh

dagen: steve forbes is here to wait in. i want to pooh-pooh this.s this really the worst thing that can happen? >> short-term, no. after a while, it will become a problem. republicans have to realize they will not get a defunding of obamacare. those things are very popular with the american people. push things and they can win this thing. connell: to follow up on that point, it implies that there have been plenty of mistakes made here. do you see that turning around any time soon? it seems like pretty strong views. >> they have made their point. let's go score some victories. i think at a time like this, that would be immensely popular. go with the public and you will fax the president down. dagen: why did the president not take this approach from the get go? >> you will have to ask them. i do not know. i think they had a chance to arouse the base. it will implode. the republicans, i think, missed an opportunity to put pressure on democrats. i do not think that they have sought the things through. go for things where you can score touchdowns which a

in focus with steve forbes, himself. elizabeth macdonald. sabrina schaefer. rich karlgad.n candy. is this putting us in danger? >> it is. it's difficult to follow the powell doctrine, you remember colin powell. he said we ought to have the resources to fight two wars at same time in different parts of the world. we can't do that today. we should invest 6% of the gdp in the defense. as we did in the reagan years. we have can't afford to do that because we're so far behind the curve on the debt issue. >> is it a security risk? >> i'll disagree with rich. we spend more than top ten behind us combined on defense. if there is a national security issue, we defend the richest countries and regions in the world without defending the united states. if youook at the depth more broadly, if anything makes us safer, china is less likely to bomb us if we owe them money than if we don't owe them money. >> david: we spend a lot of money on defense. with jim imhoff says we don't ve enough, i listen. >> he's right on long-term implication of what we do on the budget. not just the deficit or

here now is steve forbes. media chairman and editor-in-chief. the chief u.s. economist for deutsche bank and providing perspective on the numbers and anything else she wants to talk about is mary efner. 0.2%. the worst in four months. core retail sales looked lousy. what's going on here? >> two things. at the high level in luxury that continues to be robust. those are not impacted by it. in fact, they can raise retails on the product and the customer is tistill buying. at the other end, we see discounters being very strong. the discounter has to trade down and they're profiting from this. in the middle is where it's challenged. if it's not newness, the customer is not buying and they proved that in august. >> that's because people are risk averse? is that because people are worried about their jobs and their incomes? >> it's a little bit of that, but we do see that they are sper spending, but it's a pair of jeans, a plain t-shirt, they're not buying it. and many people who had full-time jobs are going to part-time jobs. so in doing so they're going to discount

good to have you here. >> steve forbes great to so you. let me start wu.his is a disturbing development for people who spend their lives working at these two companies. what does it mean for them and what is the largest message here? >> it is a contest of what kind of health care system we are going to have. with businesses in 2015 getting under obama care and getting a one- year reprieve. do they pay a twoipd fine per employee or cope the current plans and paying 8- 15 per employee? and you can see the companies now not only with retirees to work at another company. you will see this contest. we end up with a single payer government plan or a true plan. and that's what we so unfolding. companies will try to reduce costs. all they so is rising costs and obama care is making it worse and not better. >> steve moore, is it better for the retired in the end or is the check they are written loves them with choices that are cheaper and much less comprehensive in the end for them? >> yeah, martha, the term to describe it is called dumping. the proetsz is that emp

in focus with steve forbes, himself. elizabeth macdonald. sabrina schaefer. rich

in focus with steve forbes, rick unger, morgan brennan, mike osanian and sabrina schaefer.ve, if this is extortion? isn't the president guilty of doing this a couple of years ago? >> sure. guilty of the anti-democracy and arrogance. there is negotiation around raising the debt limit, and budget issue. he rammed through congress healthcare bill that no one likes. it's more up on popular today than three years ago wh it was passed. becoming unworkable. the american people say enough. he says that is arrogance. i think there is another word for it. >> morgan, speaking of it. extortion is a loaded word. is the president right to use it? >> it's a loaded word. i see why he uses it when you look at the deaf six. this is poor politics and this is worse f business. you have the republican leaning chamber of commerce saying quit tieing this together and get legislation through. in the last couple of years when you look at the economic fiscal policy face-off,he economy, the american economy has been a thing that tas a hit. that is without throwing a hot topic issue like obamacare in

focus with steve forbes, john tandy, rich unger, rich karlgaard, sabrina. some things?et more taxes. the government is running so it you get less supply and

within 10 years they went from 7% to 70% that is why i have always believed that steve forbes had it right. we ought to go back with all the deductions and loopholes and make it as simple as possible. but don't create all of these special interest groups. >> the people most opposed to the flat tax, it is people who are against it and probably from washington. the bricks in london were paying 20%. it is expensive. i like to percent rather than 18%. [applause] john: to be clear, we are at 40% for state and local. >> that is right, we function fairly well beyond that. the reason the british attacks in 20% is because they are running an empire the one coming up, when government can't raise taxes anymore. they find other ways, like devaluing the currency. but it didn't work out so well for rome. that is coming up next Ñ@ç@çpçp john: welcome back to the freedom fest conference. the world's biggest gathering of people even many politicians are made mad by libertarians. politicians have found sneaky ways to do spending. roman emperors molests over and coins, and that cost money. a bushel o

within 10 years they went from 7% to 70% that is why i have always believed that steve forbes had it right. we ought to go back with all the deductions and loopholes and make it as simple as possible. but don't create all of these special interest grups. >> the people most opposed to the flat tax, it is people who are against it and probably from washington. the bricks in london were paying 20%. it is expensive. i like to percent rather than 18%. [applause] john: to be clear, we are at 40% for state and local. >> that is right, we function fairly well beyond that. the reason the british attacks in 20% is because they are running an empire the one coming up, when government can't raise taxes anymore. they find other ways, like devaluing the currency. but it didn't work out so well for rome. that is coming up next john: welcome back to the freedom fest conference. the world's biggest gathering of people even many politicians are made mad by libertarians. politicians have fnd sneaky ways to do spending. roman emperors molests over and coins, and that cost money. a bushel of wheat that c

steve forbes is going to join us to share his economic outlook with us. >>> plus, did the top bank bailouted ben bernanke save america? hank paulson said yes, and we're going to debate that proposition. >>> is washington poised for a government

." >> steve forbes of all people, the last person you would associate with political comedy, you knowng for president back in 1986. i was thinking about this, talking about this off the air, as i look back at the last 40er years of "snl" and think what are the sketches that stand out to me and i come back to one political era, the late '80s and early '90s, we had the george bush sr. impersonation, phil hartman was ronald reagan, and i sort of went to myself, how much of that was obviously the actors themselves but al franken was writing so much of the political content, al franken went on to become the united states senator, how much of this is of what we're seeing is so dependent on who the writers are at any given moment. >> franken is an important voice for them, as is jim downey, the writer in the same era and stuck around with the show until just last season. i think it is -- there is a certain volatility at that time. and we didn't really know which way the country was leaning. even among the writing staff. there are left leaning voices and right leaning voices, and just sort of

morgan stanley, ubs, steve forbes, credit suisse, all cutting price targets.e a buy. also, two other big downgrades came through today. within was on comos bank. this is the second day that they've fallen. jpmorgan had an interesting call on that giant u.k. retailer tessco saying the german -- how would you call it, like audi, will change the landscape for them moving forward, underweighting tesco. the stock falls as a result. let me give you one more deal, which on the surface here in the united states, you'll go, huh. but this is huge. telefonica is effectively going to take over telecom italia. the headline figure is $1.5 billion. it's a complicated deal. you have to understand they're sitting on $39 billion of debt. it's a huge deal. it also raises the question to buy out the italian shareholders, raises the question of whether other highwater marks of italian industry, like air italia, the airline, might be up for sale as the italians kind of stand to one side. guys, back to you. >> interesting. thanks a lot, simon. >>> now to some controversy surrounding

facebook zuckerberg top 20 this year and laura powell widow of steve jobs. 7 other bay area billionaire among the top 100. if forbes 400 list. >> don't expect to see billionaire ceo awful son with crown for too long if the team lasts this week. that's because he will be kicking off oracle open world this weekend and throwingÑi annual appreciation party wednesday night. giant ferris wheel set up at treasure island forth event. maroon 5 and black pea will perform. oracle opens sunday. aboutest convention of the year in san francisco. 4 47,000 are expected to attend this year. >> we have more ahead tonight on 7 news at newspaper:00. update on the mass shooting in our nation capitol. now beginning to learn the names of some of the victims. >> also the fvl ship off the rock nearly ready to move what it took to free the huge cruise ship. >> we tell but one of the benefits of video games. might think your kid play too many of them but ç:jere's a major upside here. stay with us. i'll be [ female announcer ] safeway presents real big deals of the week. or how to get great deals the easy way. you do enough flying around. tha

"forbes" magazine said you're more of a nerd than steve jobs. >> jack dorsey: which i found insulting than steve jobs. i-- i think the reference was because i was a programmer. so, if that is the nerdy way, then guilty. i'm a nerd. >> logan: many believe jack dorsey is the intellectual successor to jobs. he created the code for twitter with messages that, unlike emails, can be read by anyone in the world. twitter is so instant. it's that moment. >> dorsey: yeah, it's so instant. and now, i get to see the entire world and how they're thinking and how they're feeling and what they're doing and what they care about and where they're going. >> logan: when he created twitter seven years ago, jack dorsey had no idea how big it would become; that 200 million people would be sending more than a billion tweets every three days; that young revolutionaries would use it to help communicate the strategies that fueled the arab spring; that it would force a congressman to resign. twitter has become a marketing tool for hollywood and big business. we use it at "60 minutes." the president tweets. bene

steve: bigger than the plate! >> stop talk. bring it on over here! i haven't had breakfast yet. we don't have forbeselisabeth, they love you over here! >> elisabeth: am i in good hands or what? >> brian: we're not supposed to eat on the couch and rug. >> i think i got red velvet on the leather. oh, oh. >> steve: we should figure out where grandma got the plastic. meanwhile, at 17 minutes before the top of the hour on this awfully busy monday, think media bias doesn't exist? then why have more journalists left their jobs to go to work at the white house than ever before? we're going to talk to eric ericcson about that. >> elisabeth: his wife is giving birth. but this super bowl winning quarterback sit hits up the football field. joe flacco under fire. does he deserve it? >> brian: the aflac question of the day. are you still eating? >> i'm eating. >> brian: born on this day in 1964, this snl alum may be known as her character, mary katherine gallagher. be the first to e-mail the answer and you'll get something practical ready to run your lines? okay, who helps you focus on your recovery? yo, yo, yo.