have uncle sam help you buy your alpacas. >> have uncle sam but ends up paying for them, uncle sam. >> john: lots of people are getting in on it. >> i could never write it off. after purchasing the alcapas, it became a sacks writeoff. >> john: they asked members on a scale of one to ten, what motivated to you buy. more than half rated tax benefits. >> we got it to it for tax reasons. >> john: they sound like accountants. >> take a deduction. >> depreciated over five to seven years. >> john: they are also valued for fleece. but it doesn't explain in the growth. 25 years ago there was 150 in america. now there are ten times that. >> they have a pedigree that is solid. >> at an auction, prices have gotten high. >> just recently an animal sold for over $600,000. >> this is not necessarily a good thing. >> do you have someplace else to go. >> he may not like me talking about this, but economists warns the industry is a bubble. government is good at creating bubbles. as reported, congress is ridiculous tax credit created a thing in golf cart sales. >> to encourage energy efficient products.

still ahead, a look at how much uncle sam wants from olympians and the details of a new plan to try and change it. >>> still ahead at 5:00, the checks in the mail but criminals are opening it. why thieves are claiming millions of government dollars. >>> and wrong place, wrong time. police shoot a pet while on a manhunt. now they're trying to make amends. plus -- >> the people in the u.s. and the people in the world will benefit by the things that we do here. so that to me is where the real excitement is. >> it's the biggest and the best computer in silicon valley. in today's "bay area proud" we look at the life-changing work being done right here that could have worldwide impact. >>> and a new warning for anyone thinking of taking a dip in a popular east bay lake. >>> and good afternoon, i'm jeff ranieri in the weather center. the wind picking up at the coastline is producing fog at this hour and 60s. inland it is hot. 93 in livermore. that hot weather has increased the allergy forecast. we'll talk about cooler changes and what it could mean for that pollen in just a few minutes. must b

and uncle sam is going for the gold in the london olympics.y that american athletes who win big have to hand over cash to the tax man. that comes from the national taxpayer's union which describes itself as nonpartisan taxpayers it reports that a gold medal and the cash prize that comes with it can cost american winners up to nearly $9,000 depending on tax bracketd: even the bronze can cost -- that's quite a tax bill for michael phelps. president obama. but if michael phelps paid the tax man and paid the max on those 19 medals at the current rate, he would be on the hook for 150 some thousand dollars. of course we don't know what his tax bracket is and his endorsement deals likely mean he is not hurting for cash. those taxes can really add up for some lesser known athletes. we talked about it on "studio b." here listen. >> okay. kimberly rhoads is a skeet shooter. gold medal on the hook for $9,000 to uncle sam. pretty interesting. it's a u.s. specific thing that worldwide events, you know, u.s. is one of eight different countries that actually

do that but i want uncle sam off my back but to have my back. you need to make these people getting these breaks pay people not a liveable wage but prosperity wage which the house and senate refuse to raise. let's be fair, angela. >> you said you want uncle sam to have your back? that is the job of the government -- >> off my back. >> to protect the consumer. what republicans want to do get them off your back so you control more of your money than uncle sam because obama's stimulus package, sanity teet at that, -- san teeth tax bottom line, didn't work. which have not more jobs but less jobs. >> i want jobs to pay us money. jon: fun to get you two together and here your points of view. thank you both. >> i love angela and i love you too. jon: i love you too, santita. jenna: at the end of every time, nice to have both of them. always ends wigs a laugh. jon: always a good great discussion. jenna: we have not seen this in 12 years. july gas prices, their biggest monthly jump in a long time. so what is behind the spike? why all of a sudden in july d

is the first time in more than 200 years the post aal service -- postal service will default to uncle sam. it expects default on a peyton manning next month too. you won't see any interruption in your mail service though, and postal workers won't miss a paycheck. >>> we are following breaking news out of fairfax county. a bomb is dead after she was involved in a hit and run incident. this is what it looks like live at center street near pride avenue in herndon. police say a woman's body was found there just after midnight and she had been hit about i a car in the road there. police found the car they believe killed a woman. police are looking for suspects right now. at this point they have not released the victim's name in this. >>> now to calvert county, maryland. a lot of questions in a small community after police say a man killed his wife, their daughter and then took his own life. all this happened yesterday morning in the community of owens. the home is on candlelight court. delia has more. >> reporter: the good news at least out of a terrible story. the couple's 12-year-old son, fr

caught fraudulent returns claiming more than $6 billion from uncle sam. but billions more also fell through the cracks. the investigators say thieves take the identities of dead people, children, or others who would not ordinarily file a tax return. those investigators warn that if the trend continues, as much as $21 billion in taxpayer money could go down the drain over the next five years. we have an identity theft expert and c.e.o. of an identity theft prevention cutting firm. good to see you. why is this such a growing problem? are we just getting better an duping the i.r.s.? >>guest: it has been a problem for some time because of the report from the audit group, it brought this sore to the surface that has been festering. it has been going on for ten or more years. >>trace: is it the system? you look at the air traffic control system, and it needs to be replaced. is it a sense that the i.r.s. system, they cannot crosscheck and do the proper things that need to be done? >>guest: there are a couple of things. there is a filing gap which we can file tax

backing from uncle sam, access to the federal reserve in times of crisis where the investment bank haso borrow from a commercial bank when it was independent. those are the kind of things that should not be permitted to happen. cheryl: you will also say we cannot ring back glass-steagall. there is no way to put the genie back in the bottle. >> it would still be the ideal solution but realistically it would be hard to do that. cheryl: what can we do then? >> that was a little misunderstood the "wall street journal" piece because to be consistent if you're going to take away the reason glass-steagall has been often called the separation of investment banking and commercial banking, but that part d. part is deposit insurance so to be intellectually consistent, yes, get rid of part b. and part day. part a is here to stay. the question is who should have the advantage of that and we do not believe it should be used by investment banking or commercial banks. cheryl: in your opinion do you think the former investment bank, goldman sachs, morgan stanley, do you think they would prefer to go ba

even without help from uncle sam.et's talk to the founder and ceo to find out more about where westport is headed. mr. demmers, welcome back. >> good to be back. >> this quarter to me seemed like a shift like we have seen with so many other companies where it's really china that will be driving revenues and maybe earnings in the future and not america. isn't that a fair and honest statement at this point? >> i think you're right that things are going crazy in china. i have to disagree. i think things are going nuts in north america, too. i'm sad you're disappointed in how well things are going. uh think we are on the verge of a great revolution in north america on transportation. it's exciting. i know you would like it faster, but we're going as fast as we can. >> what bummed me out is we had a good man running a great company continental resources on. took my breath away. romney is against the natural gas act because he doesn't want to subsidize. of course the federal government subsidizes electric cars. natural gas

not just the most decorated olympian, but if he paid the max the medals would add to $150,000 from uncle samwever, we are in the sure which bracket he falls into. and now, national senior writer for the fox report. >>guest: everyone thinks, obviously, phelps and the high profile athletes, including the other swimmer, but a skeet shooter got gold and now on the hook for $9,000 to uncle sam. it is interesting, the u.s. specific thing that world-wide event, united states is one of eight countries that has taxes on this. it is not many countries, but several competitions, but the united states is one of them. they tax it for world-wide event. >>shepard: and the skeet shooter probably does not have a lot of endorsement. >>guest: how many skeet-shooting endorsements are there. i would assume the $25,000 she gets as winner of a gold medal, a night chunk of the salary, she will be taxed. obviously, the alternative, the other side of this, listen, you go on oprah and you get a free car, you will be taxed. you win the lottery, you will be taxed. they are american citizens and they are taxed. >>shepard

. ♪ i built it with no help from uncle sam... ♪ (audience reacts). >> jon: wow. i owe you will i.s "yes, we can" song a huge apology. wow, t-shirts, songs, i imagine soon "we built it" will have its own breakfast cereal... really? already? (laughter) we built that, the free market cereal where every box comes with a prize inside. the prize is rat feces because the f.d.a. can suck my balls. (laughter) for more... (cheers and applause) for more on the republican party's industrious individualism we go to aasif mandvi at the convention center. aasif, where are you? i'm on the convention floor, jon! >> jon: why is it raining? >> oh, no, this isn't rain. the deluge i'm standing in is sweat pouring off the bodies of the extremely inspired, hardworking "no help from the government" self-reliant really sweaty group of real americans! >> jon: so there's... they sere busy building stuff, that's where the sweat is coming from? is that what's happening? >> i was a little bit jealous of anderson cooper and other reporters batting the elements. i just wanted to, you know, show them that i could

>> reporter: juju, yes, another great day for team uncle sam here in the uk.he track and on sand. behind parliament, where misty may-treanor and kerri-walsh jenks retire with a third straight volleyball gold. allyson felix, long jumper brittney reese all put on world-beating performances and a benchmark moment for woman's right, as sarah attar became the first woman ever to compete for saudi arabia in track and field. she was 45 seconds slower than the winner, but the crowd cheered every step. despite america's gold rush, team usa still in second spot behind china on the medal board, after day 12. but if they gave medals for the manic and enduring sub culture of olympic pin trading, oh, america would walk away with it, thanks to one man. our special olympic correspondent julie foudy found him and got a bit of schooling. >> take the same one right in there. >> no other american has brought home more metal from more olympics than don bigsby. >> 14 olympics and i can't stop. >> the undisputed king of the one olympic sport anyone can qualify for. pin trading. how

from uncle sam you heard him.cut him out. i'm kidding. but this gets to the central debate in this election. the role of government. the gop wants to trim it back at all cost. no matter how important it is. even if millions depend on it. just a short time ago, the -- that gop party approved a platform to end medicare as we know it. even though nearly 50 million americans rely on it. to them, government is a problem. just listen to congressman ryan talk about government help. >> we don't want to turn the safety net into a hammock that allows able bodied people -- >> a hammock? that's what the gop ticket thinks about government? that's why they are so been on cutting away what they think would beat government? they think we are better on our own even on things luke health care? that's the choice in this election. and this president knows it. >> we promise that sometime between taking the oath of office and going to the inaugural ball you can sit down and grab a pen and kick 7 million young people off their parents'

the bulk of the pink slips come from private contractors hired by uncle sam. know if the number is right. but let's say it's in the ballpa ballpark. that would be equivalent, take a look at the red bars, to all of the jobs created this year. i'm not willing to take that chance and your congress shouldn't be either. defense companies aren't waiting around. they are already starting to prepare for the job losses. why? because of something called the warn act. the obama administration says the act doesn't apply here and that's triggering a plolitical fire storm. before we get to that, you need to know what the warn act is. i want to bring in poppy harlow. tell us what the warn act is. >> most people haven't heard of it, but it's important because if you work for a medium to big-size company, this applies to you. it's technically called the worker adjustment and retraining act. it requires them to send out these notices 60 days in advance if they are going to close a plant or have mass layoffs. so if defense contractors have to do mass layoffs, they may need to se

. >> uncle sam. >> jimmy: yes, uncle sam. >> okay, okay.- they fly south in the wild. not a goose, but a -- [ buzzer ] [ audience aws ] >> jimmy: and i'll take the win! ♪ our thanks to the great meredith vieira. gold medal winners kevin durant and james harden join us after the break. stick around. congratulations, my man. sorry, pal. [ cheers and applause ] ♪ [ whistle blows ] [ female announcer ] women are strong. not strong with an asterisk. not strong "but." strong. period. degree created an antiperspirant that's just as strong. degree clinical protection. up to three times the strength of a basic antiperspirant. nothing is more effective. because strong women sweat. degree clinical protection. unapologetically strong. [ music playing ] [ music playing ] [ male announcer ] start with a simple idea. think. drink coffee. hatch a design. kill the design. design something totally original. do it again. that's good. kick out the committees. call in the engineers. call in the car guys. call in the nerds. build a prototype. mold it. shape it.

uncle sam gets a piece of the pie. kyra? >> always does, right?ven for our hard-working olympians. this has been the case for years now, now, why all of a sudden this talk about a tax break? >> well, kyra, dear we say it is an election year and all eyes are on the olympics. we keep that in mind, with that being said, i did put a call into senator marco rubio's office and he is one of several lawmakers who introduced that bill and asked this very question. why now? why now is this an issue you're paying attention to and the press officer telling me that, you know, senator rubio has just made aware of this issue that olympians face taxes when they return home based on the research from that group and we're talking about american taxpayers for reform. so, he wasn't aware of this until now and that is why they say they're pressing for it now. kyra? >> all right, and congress is on vacation for the next five weeks or so. so, with the athletes this time around get a break? >> well, if i were to bet, i would say it is highly unlikely. but, again, speakin

if he paid the max at the current rate, the medals would add up to more than $150,000 for uncle sam.ting the country. >> cenk: okay, so oh my god you get the gold medal, you have to go home and watch a $9,000 check to uncle sam. that's outrageous. marco rubio republican senator from florida came up with a bill the olympic tax elimination act. because he says look, they work so hard for this. you can't punish success like this. all right. so it turns out of course, you don't get taxed for the gold medal. there isn't even that much gold in the gold medal it turns out. it is because you win money. so, for example if you win a gold you get $25,000 prize. $675 worth of gold in the medal. for silver, $15,000. for bronze, $10,000. you're not getting taxed for the medal. you're getting taxed for the income that you got for winning that medal. like everybody so if you're a dentist and you have income, i can't believe you're taxing the success of the dentist. yeah! we tax income. that's how it works. so americans for tax reform, with their lie came up with these numbers. they said based on tha

american olympic medical winners are taxed, and one says uncle sam should let them be. >> hoping to win gold medal 26 miles at the finish line and says that god is with you every step of the way. >> and the word has been out that he hasn't paid income taxes for ten years. >> and the hearsay back on the senate floor. ladies and gentlemen, governor mike huckabee. [applaus [applause] >> thank you, a great audience here tonight. thank you so much and welcome to huckabee from the fox news studios in new york city. well, what a week it has been. by the way, thanks to you, chick-fil-a day was a huge success. [applause] >> i want us to see how it all happened. chick-fil-a founder opened up his restaurant and over the next 60 years, the business expanded into a successful chain of more than 1600 restaurants without incidence. >> chick-fil-a came upped fire when the company's current president and coo said this. >> i pray god's mercy on a generation that has such a prideful arrogant attitude to think that we with-- with the audacity to try to redefine what marriage is all about. >> mike: the comm

the thousands of dollars uncle sam is forcing american winners to pay. >> a mix of sun and clouds. your first warning weather forecast is coming up. ,,,, i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral. see why millions of people have already enrolled in the only medicare supplement insurance plans endorsed by aarp. don't wait. call now. >

some big american companies are paying more to their ceos than they do to uncle sam in taxes. the institute for policy study says the list includes at&t, boeing and citigroup. the companies paid their ceos an average of more than $20 million, while paying less on profits. >>> the new look on the economy is one of the weakest since the great depression. the a.p. announces that unemployment has never been this high, this long, after a recession. r spending and job growth are lagging badly. >>> major retailers are joining forces to give you a new way to pay. companies including walmart, best buy, cvs and 7-eleven is working to come up with a system to let customers pay for purchases using, what else? 24ir smartphones. >>> and pilots for american airlines have won a temporary victory. a bankruptcy judge has stopped the airline from tossing out its contracts with union pilots that would have allowed american to slash their pay. american, struggling to regroup from bankrucypt says it will try again to cancel the contracts. >>> ebay, pulling a disappearing act an online wizardry. the

the uncle sam's girls, the women's soccer team, they do not disappoint in they get to the olympic stageree times they trailed the northern american neighbor canada and three times they rallied back. and tonight, they're enjoying the giddy exhaustion that only comes from hard-fought victory. >> reporter: the header broke a 3-3 tie into the gold medal game against japan but less joy in the gym for gabby douglas. she earned the flying squirrel nickname for the way she spins and soars on the uneven bars. but tonight, the flying wasn't good enough to beat russia's aliya mustafina. she finished last and will take one more track on the balance beam tomorrow. on the track, three americans started the 300-meter hurdles. michael finley behind sanchez. and all of london still buzzing over last night's 300-meet sprint, mostly more usain bolt's repeat but partly for the fan who threw a beer bottle just before the start. before security could hustle him out. a dutch judo champion was seated nearby and whacked him on the back and tweeted "a drunk dude in front of me throws a bottle on the track. i ble

uncle sam eyes olympians and why thanksgiving could be a little awkward at the zuckerbergs. your "first look" at the morning's business headlines are state ahead. >>> the angels fall hard and a pole-vaulting record for the ages, you're watching "first look" on msnbc. ♪ [music plays] ♪ [music plays] ♪ [music plays] hethey don't need one,gh wes, clay and demarcus tried on the new depend real fit briefs for charity to prove how great the fit is even while playing pro football. the best protection now looks, fits and feels just like underwear. get a free sample and try one on for yourself. the global ready one ? yeah, but you won't need... ♪ hajimemashite. hajimemashite. hajimemashite. you guys like football ? thank you so much. i'm stoked. you stoked ? totally. ... and he says, "under the mattress." souse le matelas. ( laughter ) why's the new guy sending me emails from paris ? paris, france ? verizon's 4g lte devices are global-ready. plus, global data for just $25. only from verizon. why? i thought jill was your soul mate. no, no it's her dad. the general's your soul mate? du

. >>> and uncle sam coming to the aid of drought-stricken farmers and ranchers. that's in your business news. >>> the first ladies of the u.s. and gymnastics. one wasn't doing the other any favors on late night tñ!ñcús >>> welcome back, everyone. americans are charging more. new numbers show that credit card debt is up about 6% from just a year ago, to an average of almost $5,000 for each borrower. more cards are being used. but transunion says the rate of seriously delinquent accounts, more than 90 days late, is at an 18-year low. >>> the government's reporting another big spike in gas prices. the energy department says the national average has risen 8 cents from a week ago. it's worse on the west coast. your gas is averaging $3.95 a gallon. a 19-cent jump in the last week. >>> new help is on the way for farmers, as the nation's drought crisis deepens. the agriculture department is going to buy up to $170 million of pork, lamb and chicken, as ranchers struggle to feed the livestock with grain prices just soaring. the meat is going to go to food banks and federal

whiteboard in south carolina yesterday, he did give his clearest explanation yet of what he's paid to uncle sam. >> i did go back and look at my taxes and over the past ten years, i never paid less than 13%. i think the most recent year is 13.6% or something like that. >> romney has already made his 2010 tax return and estimates of what he paid in 2011 public. team obama isn't satisfied. they still want proof. >> this brought the income tax debate back to the forefront after we had spent so much time talking about medicare, about the ryan pick. >> meanwhile in ohio, romney's running mate paul ryan stayed on message, questioning medicare's current funding. >> do you think raiding medicare to pay for obama care is an achievement? >> no! >> neither do i. >> in richmond, virginia, romney tried to get the focus off his personal finances and back onto the hot button issue this week. >> my plan makes no change whatsoever for seniors. none, zero, zip. anyone 55 years of age and older sees no change whatsoever to medicare. >> now, the president and the vice president will attend a second day of meetings

nearly $50 billion bailout from the government in 2009 and it still owes more than $26 billion to uncle sam. terrell? >> erica ferrari here in new york. thank you so much. >>> up next, your monday morning weather and in sports, japan pounds the u.s. in the little league world series forcing officials to say the one word no team ever wants to hear. [ music playing ] [ music playing ] the blissful pause just before that rich sweetness touches your lips. the delightful discovery, the mid-sweetening realization that you have the house all to yourself. well, almost. the sweet reward, making a delicious choice that's also a smart choice. splenda no-calorie sweetener. with the original sugar-like taste you love and trust. splenda makes the moment yours. >>> here's a look at the weather in some cities. in new york, thunderstorms, 82. same deal in miami, 86. sun in chicago, 84 degrees. dallas 95 degrees. clouds then sun in los angeles, 82 degrees. >>> let's check your national forecast. the outer bands of isaac will hammer florida. intense rain, strong winds and tornadoes are possible across the sun

uncle sam says the u.s. corn crop could hit a 17 year low come harvest time. >> susie: i'm susie gharib. from farm to table, the midwest droughts impact on restaurant bottom lines. >> tom: and j.c. penney's bottom line comes un-stitched. the retailer posts a bigger than expected loss at it struggles with a turnaround. >> susie: that and more tonight on "n.b.r."! >> susie: it's going to be another hot weekend, and that's not good news for farmers in the corn belt. the severe drought in the midwest has ravaged crops in key farm states, and today the u.s. department of agriculture said production of corn and soybeans will drop sharply this year. this is the second month in a row that the agency cut its production estimate. the shrinking crop, could mean higher grocery bills for consumers. >> reporter: this year's corn harvest will be a lot smaller, down about 17% from spring estimates, to 10.8 billion bushels. it's lowest level since 2006. the massive drought is raising fears of a new global food crisis. the un