the i.r.s. on that debt. the tax code is not clear on this issue. therefore, it's possible for a taxpayer to have their medical debt cancelled but then be required to pay taxes on that forgiven debt as if it were income. that's plain wrong. to ensure medical debt forgiveness is not a taxable event, last week i introduced the medical debt tax relief act. i thank congressman john larson for joining me in this effort and i urge our colleagues to join us both in support of this commonsense legislation. yield back. the speaker pro tempore: the gentleman yields back. for what purpose does the gentleman from california seek recognition? mr. takano: i ask unanimous consent to address the house for one minute and to revise and extend my remarks. the speaker pro tempore: without objection. mr. takano: i rise to celebrate the life of kathleen daley. a dedicated member of our community who passed away last week. i had the privilege of serving with kathleen on the riverside community college board of trustees

the i.r.s. and consumer protection advocates. unsurprisingly as i have indicated, it came out of committee overwhelmingly with all 16 democrats voting in favor. the bipartisanship reflected in this bill is certainly a raret in this body. and frankly, could have easily come before us under the suspension of the rules. it is now painfully obvious what the republican majority's playbook is. my friends across the aisle can work in a bipartisan manner if they want to. but when it comes to major issues facing our country like taking away health care from 23 million americans or handing $1.5 billion tax give-away to america's wealthiest citizens, they would rather force through partisan legislation written in back rooms with little to no expert analysis similar to the farm bill, that's about to come out here sometime in the not too distant future. while it is certainly refreshing that we are working in a bipartisan manner for a change, protecting children and families from identity theft is not the only

the i.r.s. has a lot of work to modernize tax code after the republicans passed their landmark tax overhaul late last year. this is sort of -- they see it as the next step in that process, revamping the i.r.s., make it more customer friendly. more modern. but this is a bipartisan effort. so democrats are onboard with most of these bills that the house is taking up today and tomorrow. >> it's interesting looking at the tone of debate coming out of the ways and means committee. the bills you're talking about all coming out of the ways and means committee. on unanimous vote. the scene wasn't the same with the tax cut bill you mentioned. it was a bipartisan split. a partisan split, i should say. between democrats and republicans. why the bipartisan effort, the support behind these i.r.s. bills? >> that's right. it's the notable difference. these i.r.s. bills are -- they're less ambitious and republicans look for areas of bipartisan agreement. so these were not bills that really dramatically changed t

the acting head of the i.r.s. told congress today the agency has processed 79 million tax refunds so far this year. the average refund is $2,900. ve is a very tempting target for con artists. , nce 2013, they've stolen $64 million in refunds from nearly 13,000 people. anna werner has more details on this in this cbs news investigation. >> i had a gut feeling that something was wrong. >> reporter: when tax preparer annette kraft checked the status of her client's tax returns in january, she was surprised to find all of them had been rejected. >> and the code was 902-01. that means that someone else has already filed a tax return. >> reporter: and so what did you think when you saw that? >> i thought, there's no way. >> reporter: it turns out her rients were victims of a new tax scam intended to cheat them out of their refunds. here's how it works: the criminals get their hands on returns from previous years, and then use that information to rnle new fraudulent returns on unsuspecting victims. after the refund goes i

it hurts. >> reporter: although the i.r.s. says preparers are the ones being hacked, kraft's own experts told her she was not hacked. but, jeff, the i.r.s. says there are a variety of ways for hackers to get in and steal information. >> glor: a report that makes you mad. but if somebody wants to know how to keep this from happening to them, is there a way? >> reporter: you really cannot. watch your bank balance. if you see a refund come in, you call your bank. then you call the i.r.s. you return the money. you can't keep the money, because then the i.r.s. will make you pay it back. >> glor: just means the refund is way delayed. >> reporter: and the refunds are delayed for some of these people by months, and they are suffering for it. >> glor: all right. thank you very much. up next former nfl cheerleader says she was ridiculed for her religious beliefs. around here, i'm lucky to get through a shift without a disaster. my bargain detergent couldn't keep up. it was mostly water. so, i switched to tide pods. they're super concentr

but lo and behold when the i.r.s.'s payment system crashes, suddenly we are now deeming today tax day. rather than yesterday. and while it's a surprise to be speaking on tax day, that collapse of the website sort of makes my point. i want to talk about the great successes that we've had working together collaboratively over the last 14 months to move the american tax code in the right directionment and then i want to talk about what we can do together to do even more. you may have seen some of the headlines in the washington, d.c., tax rags today, mr. speaker. folks talking about the house ways and means committee and how we are prepared to begin to do more, senate may be a little reluctant to do more. at some point it's going to require an outpouring of public support to do more. let me tell you what i mean by more. when we began the process of tax reform here in the house, mr. speaker, we were talking about tax reform first. tax cuts second. reform being that everyone knows they have to pay taxes. taxes are certain.

at 8:43 this morning, the i.r.s. emailed tax professionals about the problem. an i.r.s. commissioner, david kautter, who was testifying on capitol hill, told an incredulous commercial committee the website was down. >> this is game day for the i.r.s., and it seems the i.r.s. can't get out of the locker room. >> we have backup systems that ed are bringing up online. >> reporter: social media exploded. "seriously?" "great day for the i.r.s. to have an 'unplanned outage.'" former i.r.s. commissioner john d skinen said smaller glitches had occurred before, and it urged congress against cutting i.r.s. funding. >> with continued underfunding, it was not a question of whether the system was going to fail. it was just a question of when. er reporter: how bad is it, the system? >> it's bad enough when you're running software that was running when john f. kennedy was president. id reporter: now, congress is considering legislation that would require the i.r.s. to cedernize its systems. the house will actually vote on that tomorrow. late this afternoon, the i.r.s. notified tax profe

the i.r.s. has at least partially failed. ahead of the midnight deadline tonight. the i.r.s. acting commissioner says they are working to resolve the problems and people should continue to file as they normally would. the agency is planning to attempt a hard reboot of the system and that again from "the washington post." we'll bring you any updates as we can on this tax filing day. on the c-span networks. today is the first tax day since congress passed the tax overhaul. we got a closer look during today's "washington journal." " continues. host: on this first tax day the passage of the tax cuts and jobs act, it's a good in with chris edwards, tax policy study director. of the tax overhaul are going to be impacting individuals who are file year?sgiving guest: generally the tax cuts and job act went into effect year, and so his employers across the country are tables. withholding workers on pay stubs should see will see a or 90% tax cut on pay stubs. in terms of filing this year, if filing for tax

since less of each paycheck needs to be withheld for the i.r.s. when all is said and done, the treasury department estimates our tax cuts will leave 90% of wage earners with more take-home pay. those 90% of wage inners with -- earners with more takehome pay as a result of our measure. americans are receiving special bonus, pay raise or new benefits from their employers as a direct result of tax reform. $1,000 bonuses for workers at kansas city southern railway in missouri, a higher starting wage at first farmers bank and trust in indiana, higher wages and new job opportunities at c.s.s. distribution group, a small business packaging and distribution company in kentucky. billion-dollar investments in pension plans for u.p.s. and fedex workers. the list goes on and on and on. my democratic colleagues from new york and san francisco scoff publicly at the idea that a $20,000 tax cut for a $1,000 bonus would make a difference for american families. they've called these things crumbs. something tells me they haven't tried that talking point around many m

to midnight tonight wednesday april eighteenth after glitches in the online filing system cause the i.r.s. to perform a hard reboot doesn't that mean that you unplug the system from the wall and then when you lose all the data from the ongoing documents seems really scary but it's hard to understand what was actually going on well the i.r.s. direct pay and payment plan pages were affected and the system worse was not restored until full functionality resume gained at five pm tuesday evening iris commissioner david carter officially apologized in a statement the glitches reportedly resulted from hardware issues and not acting the i.r.s. budget has fallen from fourteen billion dollars in two thousand and ten to its current eleven point five billion dollars that has resulted in a loss of twenty thousand i.r.s. employees president trump for his part in the i.r.s. budget calls for continued cuts to more than four thousand jobs observers say the trump cup's would only allow the i.r.s. to respond to forty percent of all calls to its tax help hotline. and filling out a story we discussed yesterda

it hurts. >> reporter: although the i.r.s. says preparers are the ones being hacked, kraft's own experts told her she was not. the i.r.s. says there are a variety of ways for hackers to ieak in and steal information. anna werner, cbs news, new york. >> glor: still ahead for you, police are investigating the controversial arrest of two controversial arrest of two black men at a starbucks. llow m. choosing a plan can be super-complicated. but it doesn't have to be. unitedhealthcare can guide you through the confusion, with helpful people, tools and plans. including the only plans with the aarp name. well that wasn't so bad at all. that's how we like it. aarp medicare plans, from unitedhealthcare. a hilton getaway means you get more because you get a break on breakfast get an extra day by the pool get to spend more time together get more from your spring break getaway with exclusive hilton offers. book yours, only at hilton.com hey, hi. you look good. thank you, i feel good. it all starts with eating right. that's why i eat amazin

because the i.r.s. is saying that the employees are going to get more money in their paycheck because the employers are going to withhold less as we go into the year 2018 because the tax proposals are in effect as to the beginning of this year. so even though this is the last time that we are going to have to file under the old code, already people are seeing some of the benefits of tax reform. when i go around ohio, i talk to people. they say rob, my paycheck has already changed. that's because 90% of americans are now being told they will have less withholding taken out of their paychecks, again because of the lower tax rate, doubling the child tax credit, doubling the standard deduction. this is really helping. the average in ohio is probably $30, $40, maybe $50 every two weeks. the average income for a median family is about $2,000 a year in tax relief. that's the average. that's a big deal. that's not just crumbs. most people i represent live paycheck to paycheck. most people i represent think $2,00

at the time of year again where your taxes are deal and i.r.s. office like the one behind me will determine how much money you get back or if you're not so lucky how much will oh if you're filing your taxes today you are not alone citizen most people file their taxes within two weeks of the don't like for those who aren't able to meet the deadline they asked for an extended debt line which will allow them to file throughout the year according to the i.r.s. one in ten tax filers get a six month extension that's about fourteen million americans who don't meet the schedule deadline the good news is there's a grease period the bad news is if you take the six month a grace period it won't only delay any refund you have coming your way but if you owe taxes it will exempt you from having to pay them today every year the i.r.s. process is about one hundred fifty two million individual returns the company expects about one hundred fifty five million returns to be filed this year federal income taxes are the main source of revenue for the federal government

however when the i.r.s. detects the false return it is the taxpayer and not the return preparer who is then liable for any additional taxes and/or penalties. unfortunately it is low income and underserved populations such as those with limited english who are the primary targets of fraudulent preparers. it is the threat that my district in south florida is all too familiar with. thankfully the vita program allows taxpayers to submit and -- fill out and submit their returns accurately. the prepayers are i.r.s. certified and 894 -- at 94% have the highest accuracy rates of all preparers this program enjoyed strong support in the 35st regardless of the administration or the party in the majority. h.r. 2901 would permanently authorize the grant program while ensuring that vita preparers continue to maintain their high accuracy rates. i want to thank represent i have danny davis for partnering with me on this legislation. i'm appreciative of the work and leadership chairman brady and subcommittee chairwoman lynn j

. >> the i.r.s. has a serious problem. 's web site has not been able to process payments from income tax tilers' banks since about 2:00 a.m. the government has just under 9 hours to get the error message cleared. >> treasury secretary teach mnuchin says americans have been unable to pay their taxes today will get an extension -- >> trevor: no, no, we don't want an extension, i.r.s. you get one day to accept taxes and then if you can't do it, that's on you. nobody pays if you miss your day. ( cheers and applause ) i'm putting it out there. those are the rules! those are the rules i just made up but i think we can all agree on it. yeah, i think we can. there's only one day that the i.r.s. web site needs to be up and this is it. it's like if the easter bunny ran out of eggs and is, like, listen, i can have more by arbor day -- no, get out of here you wack-ass rabbit. the latest in the trump investigation saga. like breaking bad, the shadia lawyer got his own spawfn and it's pretty entertaining. >> in court a judge rejected a r

to midnight tonight wednesday april eighteenth after glitches in the online filing system cause the i.r.s. to perform a hard reboot doesn't that mean that you unplug the system from the wall and then when you lose all the data from the ongoing documents seems really scary but it's hard to understand what was actually going on well the i.r.s. direct pay and payment plan pages were affected and the system worse was not restored until full functionality resumed gained at five pm tuesday evening i.

you got an extra day to file, and the i.r.s. got a lesson in the pitfalls of e-government. tonight we take a look at a nation that has put nearly all of its government services online. tiny eston, a member of both the european union and nato, is making a name for itself as a world leader in digital technology, education and cyber security newshour weekend special correspondent christopher vesay recently traveled there to find out how it works. >> reporter: winters in tallinn, the capital of estonia, can be long and cold. but it's hardly a place frozen t time. in fact, in lessn 30 years, estonia has gone from being an impoverished member of the soviet union to one of the mosta techy advanced countries in the world. it's the first country to declare the internet a social right. the government claims high-speed broadband covers 88% percent of the country and 99% of its services are easily accessible online. >> a country where you can do your taxes in three minutes. where you can vote online from anywhere in the world and it's still secure and safe. >> reporter: anna piperal is

is our securities this is to see the says kryptos are commodities the i.r.s. says it's property and fins and says it's money i asked her for her thoughts on this issue what they're trying to do is is trying to apply. a political fallout i should say to people who are missing you know the registration or the reporting so they're just putting on why a wide net if you me every every single regulatory agency seems to want to have you know some kind of people so that they're not missing those who are not do well talking to people in the space they see like surprised by all of this and i have worked on wall street for many years and it seems like the least surprising thing you can imagine i'm really not surprised to be quite honest i mean regulators gone regulate right still it's just it's not surprising let's talk about the f.c.c. first like a big subpoena dozens of c.e.o.'s of this record off price of spite this others a lot of ice you know is being pitched right to the ice you know pitches are continuing are they playing with fire at this point well i don't know

army and coalition forces managed to drive the islamists out in december last year iraq declared the i.r.s. occupied parts of the country officially free. around seventy thousand homes were destroyed during the occupation and subsequent fighting two point five million displaced people are still in camps and other temporary housing at a global donor conference in february participating states agreed to pledge thirty billion dollars towards rebuilding iraq but experts warn that's just a third of what's really needed. meanwhile life is starting to return to the demolished cities slowly but surely. when ali rides his bike through western wall it's a trip through a dark and painful past the wasteland reminds the thirty six year old of the worst trauma he has ever experienced living under i.r.s. rule. centuries old buildings palaces churches and the world famous al noori mosque now lie in ruins with his camera the university lecturer wants to document the destruction and rebirth of his hometown a person since i couldn't recognize it this is by the way the action part of mosul is the busiest ever

guys like me tried to impeach the i.r.s. commissioner for stone walling, it didn't get through congress. so we have certain tools at our disposal, we can use the power of the purse, hold officials in contempt and we can impeach these civil officers. we have to be willing to do that, otherwise they will try to run out the clock on a lot of this stuff. >> you have civil officers and representatives appointed by president trump. i had the opportunity about an hour ago to speak to a senior d.o.j. official, they point out a couple of things. this is the first week since d they doubled the amount of agents. they are trying to produce them. another thousand pages will be delivered for your committee byp monday. and that they just sent a letter to deven nunes saying they are going to accommodate the request for other members outside the committee to review the application. if more people can set application and more documents are being produced, you feel like you can get to a place whereoo d.o.j. is acting in good faith, they just h

under control and get the i.r.s. to begin following the law as ey so boldly and brashly offended and violated during the obama administration. we couldn't believe that there was so much money being paid out in child tax credits and how is that happening if people are illegally here. even though the law says you basically have to a valid social security number to get more money back than you paid in, the i.r.s. decided, you know what? they thought, gee, there are a lot of people working that would pay taxes if they had some number to allow them to pay taxes. so even though the law doesn't allow it, we are going to give these working people taxpayer i.d. numbers and then that way they'll file income tax returns and get all of these billions of dollars in taxes from people that are working here that are here illegally. that went awry and people figured out i'm filing out a tax return and the law requires i have a valid social security number, the i.r.s. is sending me back thousands of dollars and claim i have a whole bu

there have been more than twenty attacks on holy sufi sites sometimes by the taliban sometimes by the i.r.s. the terrorist group has also declared the cities its enemies it condemns singing and dancing as an islamic was developed it is said about whoever kills innocent people is not a human being but you can't tell by looking at someone. but we can increase security but we cannot really protect ourselves from such attacks. only ceremony usually takes place here every week but today it's just a lone singer asking for money. that. god the god that lately the ceremony has been cancelled for fear of suicide bombers. it's awful now of course few people come here they get one well that we cannot live our faith as before because of fear . of our vehicle while even. in twenty ten here settled in here in pakistan's most important syfy sanctuary the data door of our shrine it's located in the country's second largest city lahore many pilgrims were killed when two terrorists blew themselves up people here can't understand why it happened it is and i'm not it was soofi super claimed islam in our region

well, april 15 came and the i.r.s. deadline did indeed hit, but there was no budget completed. and that's part of the dysfunction that people back home are so upset about. today i want to talk about that, but first i want to talk about the derivative of that broken process. to date, mr. president, in my office we have a debt clock. in that debt clock a few weeks ago it passed a milestone. $21 trillion. and if that weren't bad enough, mr. president, the commitments of this federal government over the last 50 years actually indeed over the last hundred years, the commitments that have been made in the structural programs of this big government bureaucracy have committed us to some $130 trillion just in the next 30 years. now, that means that for every household in america, that they owe the equivalent of $1 million per household. this is not a thee receiptic number, mr. president. -- a thee receiptic - receipt. these are derived from the commitments made by a lot of our programs that we have passed over the last hundred years in this country. in my opinion we're well passed the ti

lot of tracks that are in the mail and if it wasn't a ludicrous enough already jeffrey tribbiani the i.r.s. every commissioner for operation support told the house ways and means oversight committee recently that we are concerned about the potential for a catastrophic system failure is increasing as our infrastructure continues to age . taxes and government computer outages we just can't escape them and we. need everybody to remember in this world we are told or loved about so i told all of those you i am i robot to the type of the wildest people watching those offices ever great day and night everybody. what holds it. they put themselves on the line they did accept the reject. so when you want to be president. wanted. to go right to be this is what before three of the people. interested in the war. international a syrian boy seen in the world reportedly showing. how . the international chemical. used in the. refugees in germany. claiming to be terrorists so they are arrested and ultimately avoid deportation.

in fact, the acting i.r.s. oner testified to ongress last week that they're having to change 450 different tax forms and instructions for tax overhaul. don't think they're going to -- commissioner david at that, here is him the ng about changes at i.r.s. host: roadmap of what needs to stakeholder ght input as part of the process and at this point, all the forms that need to be all the instructions that need to be updated, the be ications that need to changed. at this point, our estimate, we will need to amend as many as 450 tax forms and instructions nd publications to fully implement the tax reform act. -- xpect to have new forms expect to have most instructions by may and chance release forms and -- to tions over the review and comment on. host: chris edwards, how does that time line sound to you? uest: looks like the i.r.s. is make prog aggress here. if you look at their web page, they are issuing guidance to and individuals on how to deal with the tax new tax changes. mentioned, for example, small businesses

a lot of tracks that are in the mail and if it wasn't ludicrous enough already jeffrey tribbiani the i.r.s. deputy commissioner for operation support told the house ways and means oversight committee recently that we are concerned about the potential for a catastrophic system failure is increasing as our infrastructure continues to age . taxes and government computer outages we just can't escape them and we. need everybody to remember in this world we are told or loved up so i told all those of you i am i roll over to the type of the wildest people watching those awesome ever great day and night everybody. forman are sitting in a car. when the fifth get shot in the head. all four have different versions of what. one of them is on the death row there's no way he could have done it there's no possible way because the list did not shoot around a corner. in the philippine city of angeles when the us military moved out the six tourists moved in. and now a whole generation of fatherless children is growing up. a dad and within one month a couple simple than. i've been a day in sudan like i dasse

thanks to the i.r.s.'s new withholding tables and its new withholding calculator, americans have already started seeing the new tax relief in their paychecks. and for a lot of americans, that's not all that they're seeing in their paychecks a lot of americans are also seeing pay increases or bonuses, thanks to the tax cuts and jobs act, which brings me to our second reform goal, which was creating the kind of economy that would give americans access to economic security and prosperity for the long term. we knew that the only way to give americans access to real long-term economic security was to ensure that they had access to good jobs, good wages, and real opportunities. and we knew that the only way to guarantee access to good jobs, wages, and opportunities was to make sure businesses had the ability to create and maintain them. but before the tax cuts and jobs act, our tax code wasn't helping businesses to create jobs or to increase opportunities for workers. in fact, it was doing the opposite. and that

lot of tracks that are in the mail and if it wasn't a ludicrous enough already jeffrey tribbiani the i.r.s. every commissioner for operation support told the house ways and means oversight committee recently that we are concerned about the potential for a catastrophic system failure is increasing as our infrastructure continues to age . taxes and government computer outages we just can't escape them and we need time that is our show every day everybody remember in this world we are told or loved not so i told the wall i love you i am i wrong for the type of the wildest people watching those offices ever great day and night everybody. for a world cup twenty eight team coverage we've signed one of the greatest goalkeepers of all time but there was one more question and by the way who's going to be our coach. guys i know you are nervous he's a huge star and the huge amount of pressure you have to the center of the pole with you and we'll show you over great britain you are the rock at the back nobody gets past you we need you to get the ball going let's go. alone. and i'm really happy to join

as people jump balanced together all the paperwork and mailed their returns or delivered them to the i.r.s. the good news is that the worst is behind us. as the majority leader wrote recently, there's a silver lining. simply put, it's out with the old and in with the new. yesterday was the last time american families will have to file under the unfair, convoluted and outdated tax code that congress and the president got rid of a few months ago. unfortunately, none of our democratic colleagues supported the tax cuts and jobs act, none. all of them voted in lockstep no. that's right, every single democrat in the house and every single democrat in the senate voted to block tax cuts for working families. they voted against doubling the standard deduction. they voted against doubling the child tax credit and they voted to maintain the u.s. corporate rate as the highest business tax rate in the industrialized wor world, all to our detriment and all to contribute to slow economic growth and a lack of hope for so many people looking for work and hoping to pursue their dreams. well, some of our col

the i.r.s. ite for online payments broke down today, hours before the midnight deadline for filing 2017 income tax returns. there was no word on the cause, but millio of last-minute online tax filers could be affected. treasury secretary steve mnuchia saidanyone who is unable to pay on time due to the trouble will get an extension. president trump saysa summit with north korea's leader l.m jong-un could happen in june, or not at he spoke today as japan's prime minister shinzo abe arrived at his mar-a-lago resort in palm beach, florida. and he said there have been"v y high level" talks with north korea. >> let's see what happens.e we'll either hvery good meeting or we won't have a good meeting. and maybe we won't even have a meeting at all. depends on what's going in. but i think that there's a great chance to solve a world problemm >> woodruf trump also confirmed that the two koreas d e negotiating a formal end to the korean war, added, "they do have my blessing." china will allow now full, forei

the i.r.s. site for filing online was down most of tuesday, due to a hardware failure, so the agency moved the deadline back, 24 hours. returns and payments are now due by midnight tonight. and, on wall street, the dow jones industrial average lost 38 points to close at 24,748. the nasdaq rose 14 points, and the s&p 500 added two. still to come on the newshour: the enduring legacy of first lady barbara bush. what's at stake after the c.i.a. director's meeting with kim jong un. and the strikingly high infant and maternal mortality rates amg black americans. >> woodruff: s was a wife and ther to presidents, but a lack of pretention and a sense of b humor that couself- deprecating were what endeared barbara bush to the american people. the stood out in a crowd, shock of white hair that earned her the family nickname "silver fox." h'it was part of barbara b determination to be herself, as she recalled in 2004 for a pbs documentary. >> who's jealous of an overweight white haired woman? nobody. so i th

the i.r.s. says 80% of filers so far are getting refunds.rime minister abe are expected to discuss trade this week. and bank of america, trucking giant and netflix report earnings tomorrow. i'm elaine quijano, cbs news. polk county is one of the counties that you don't think about very much. it's really not very important. i was in the stone ages as much as technology wise. and i would say i had nothing. you become a school teacher for one reason, you love kids. and so you don't have the same tools, you don't always believe you have the same... outcomes achievable for yourself. when we got the tablets, it changed everything. by giving them that technology and then marrying it with a curriculum that's designed to have technology at the heart of it, we are really changing the way that students learn. and i can't wait for ten years from now when i get to talk to them again and see, like, who they are. ♪ touch is how we communicate with those we love, but does psoriasis ever get in the way? embrace the chance of 100% clear skin with taltz. for p

6103 to go into lerner's not her tax went into 50 other accounts to show that, yeah, the show the trying to i.r.s. was targeting conservative groups, which of ourse nothing ever came out of it. so it is good for goose, got for gander, we will get the tax returns. if we don't get it, the congress the united states in using checks and balance system, which the fore fathers were smart to put in there, maybe mr. mueller will get them. host: first call from illinois, line, bob, you are on with our guest, bill pascrell, of new jersey. ahead. guest: morning, bob. caller: hi. pros and cons about making the tax cut permanent for the people. guest: yes. what they are doing now, they got tremendous pushback because permanent for corporations, as you know, bob, but it wasn't made permanent for the middle class and anybody else. is playing to me catch-up politics. towarned them what was going happen. should be across the board, why are corporations more important than individuals? enough people with decisions to show that maybe corporations should be treated also, they are treated in terms of campaign financi

between 1992 and 2002, the 400 highest incomes, that's individuals, reported to the i.r.s. more -- they reported more than double even after the dot-com bubble burst. so corrections, they still increased more. the benefit of the recoveries after the dot-com bust and after the recession benefited, again, this disparity, the people at the top end of the peck strum -- spectrum. since 1979, the before-tax incomes of the top 1% of america's households increased more than four times faster than the bottom 20%. so through much of this introductory part we've been talking more about everybody in the middle income, but it's really disadvantaged poor people. so when we talk about doing away with health care or social services or food stamps, it's really a cruel sort of dickens type of bargain, where people who are already suffering will suffer more. during this period, during the eisenhower administration, in particular, almost a third of american workers were in a union. it was the glory days of america, but it was also the glory days, and this wasn't a coincidence, of american worke

we haven't even got the i.r.s. tax code we don't know. >> tons of optimism. are nervous to be giddy about it for good reason they can't believe the gift. don't bite the hand that feeds you as one ceo said to me. >> let's go back to the baseball analo analogy. today is the opening day at yankees stadium and what could be the snow that falls >> the only thing that kills great bull markets is the fed over reaching on rate hikes. historically they have done that over and over and over again so when, you know, you get liesman out here talking about four rate hikes in a row, i can't agree with him on that i don't see that happening not enough wage inflation. 2.6% you need to be 3.5 to 4% interest rate. that's probably the one metric they look at. >> the fed chief has made some commentary in his first outing to congress talked about the potential for an over heating economy. >> yeah, but that's just giving himself a little room. that's jawboning the fed today has -- does a lot more advertising than it used to >> in terms of where it's going. >> all of that stuff so,