the wall street journal economics professor senior economics writer steven moore proposes something they billionaires' subsidy elimination act. what do you mean? >> we found and there is between 100 and $200 billion of our money that goes to people who make over $1 billion or companies with profits over $1 billion a week give up with a proposal. why don't we capped the government subsidies to people who make less than $1 billion a? do millionaires and billionaires really anybody from the government? john: no. a and senator tom colbert because they're rich and famous? >> let me start with an uneasy one. think about social security and medicare you think of benefits that go to seniors was loaded, but everybody over the age as 65 gets medicare and social security including bill gates or warren buffett. do they really need a check every month from the federal government? john: at least those go to everybody. >> the true. but running $800 billion deficits per year can you afford to send delegates a check? also we have farm programs a classic example. if you have been in combat hundred $50,000

the wall street journal economics profess senior economics writer steven moore proposes something theyillionaires' subsidy elimination act. what do you mean? >> we found and there is between 100 and $200 billion of our money that goes to people who make over $1 billion or companies with profits over $1 billion aive upa proposal. why don't we capped the government subsidies to people who make less than $1 billion a? do millionaires and billionaires really anybody from the government? john: no. a and senator tom colbert because they're rich and famous? >> let me start with an uneasy one. think about social security and medicare you think of benefits that go to seniors was loaded, but everybody over the age as 65 gets medicare and social security including bill gates or warren buffett. do they really need a check every month from the federal government? john: at least those go to everybody. >> the true. but running $800 billion deficits per year can you afford to send delegates a check? also we have farm programs a classic example. if you have been in combat hundred $50,000 per to with th

walter williams senior economic writer steven moore proposed something they called a millionaire subsidymination act. steve, what do you mean millionaire subsidy act? >> there's 100 to 200 billion a year of your money and my money that goes to people who make over a million dollars or companies who have profits over 100 million. we said why don't we cap the government subsidies to people who make less than a million dollars a year. to billionaires are willy need money from the government? >> no, but what are they? they are called subsidies for the rich and famous. like what? >> let me start with easy ones. when you think about social security and medicare ush talking about benefits that go to seniors that have low income. yefr whoun with any one who is the age of 65 from bill gates to warren buffet. do they need a check every month from the federal government. >> at least those go to everybody. >> when you are running $800 billion a year can you afford to send bill gates a check. >> the others on the list go to the wealthy. >> these this is a classic amp example. the wheat subsidies the

production company with programs like lou grant and wrote a very tyler moore show and all these other things and then steven j. canal got into it with all the action movies and you know it just exploded i mean just the explosion of creativity and back in the thirty's or forty's or whatever it was at the movie business was regulated more heavily there was an explosion of creativity that too because the get used to be that if you wanted to see a metro movie you had to go to a metro theater and you only saw metro stars and when they got broken up you know it provided for a lot of career to never happen in the radio industry and i think it's one of the problems that am radio struggling with right now so. you know as much as i appreciate your point ernest i think the opposite is actually the case that regulation here we have you know the movie industry a great example of regulation actually helped build the industry now is that our callers for the night ed in erie pennsylvania want to talk about the keystone pipeline and you know it of begin. to go out. early would. i point. to refinery. was this was the star sa