. >> warren buffet, warren buffet one of the world wealthiest men. >> let's call it the buffet rule. goal of the bull buffet rule. some of you know i prosecute pose something called the buffet rule. i was with warren buffet couple days ago. you might have heard of this but warren buffet is paying a lower tax rate than his secretary. >> president obama so-called buffet rule is this. million naivr ought to pay the fair share in taxes. fair share according to the president is for anyone making over 1 million bucks to pay at least 30 percent. but is the president just training to divide working class americans from rich? ceo of pacific capitol peter ship. good to have you back. >> thanks for having me on. >> president made more than 20 speeches that we have counted on the so-called buffet rule. why is he pushing this so adamantly and let's talk about what is the buffet rule. >> well, it's based on the false narrative that warren buffet pay as lower writ of tax than his secretary. he doesn' doesn't. when you look at warren buffet personal income that's only one percent of what warren buff

warren buffet would not be a fan of anything that takes tax loopholes. my point is he is asking all of us to invest every spare dime we have in the government. that is problematic. >> i think he made it clear he wasn't asking me. >> well, i don't know how much money you make there. >> the problem here is that buffet is overpaying his secretary. i want to see buffet's tax returns. i have no proof she paid a higher rate. has anyone checked? did they check this? >> i believe they did. >> are you going to believe bill? he didn't even watch it. >> bill, you are saying that the secretary's tax returns were released? >> yes. >> i don't remember that. >> i may be wrong, but i believe they did. >> have i an idea. >> she sat in the state of the union address. >> it is a safe bet. we are talking capital gains for the most part when we talk about income. it is probably going to be a lower rate. >> i agree. >> she probably paid a higher rate. >> i think they should play the same rate too. >> 15% for everybody. >> i agree with that. >> i would vote for you. >> i would

that they claim warren buffet owes. >> that's right. >> meanwhile, donald, you know, it's autism awareness day and the facts came out last week that so many more people are being diagnosed with autism than before. have you been thinking about that? >> well, i've been very much involved with it over the years. i have some great friends, bob and suzanne wright who used to head up nbc, as you remember, they've really devoted their life to autism. and they've had a serious event take place in their family and they're fantastic people and i've helped them over the years and we've had fundraisers at other places and i've gotten to be pretty familiar with the subject and, you know, i have a theory and it's a theory that some people believe in. and that's the vaccinations. i mean, we never had anything like this -- this is now an epidemic. it's way, way up over the last 10 years. it's way up over the last two years. and you know, when you take a little baby that weighs like 12 pounds into a doctor's office and they pump them with many, many simultaneous vaccinations, i'm all for vaccinations, but

let me do this, warren buffet, why don't you come to "fox & friends" and sit on the curvy couch right there and let us talk about whether or not you think this idea that president obama is pitching as the buffet rule should be called the buffet rule. i will tell you unequivocably right now, warren buffet doesn't think taxing people that make over a million dollars at 30% will do a darn thing for the economy. what he does think, though, and i've heard him say it is we need complex tax reform. we need simpson-bowles like tax reform and we need massive spending cuts but you don't hear president obama pointing out those other two. talk about the raising the taxes. >> and you don't hear warren buffet say i think rich people should pay their fair share. ok, my company berkshire hathaway owes close to a billion dollars in tax money going back to 2002. he's been in a big squabble with the i.r.s. so while he's out saying rich people need to pay more, yeah, i'm currently disputing my taxes with my big company. so just keep that in mind as he calls for fairness. is that fair that he wouldn't pay

it's warren buffet. it really is -- it's almost disgusting that he allows -- >> those over a million dollars pays at least 30%. which would effectively mean doubling the capital gains and tax rates on dividends. >> as we know, it's baloney and it's not going to produce a lot of revenue. it's used clearly for class warfare and for buffet to allow his name to be used in this fashion is disgraceful. i can't remember a conservative republican businessman allowing his name to be used as a political prop as this. and i don't know why he gets away with it. i actually do know why buffet gets away with it because the left leaning media allows him to get away with it and it's really gross. >> what makes no sense is this taxes savings and investment in this country when we're a nation of debtors who want people to do the exact opposite but we're going to tax that. and the -- we're talking about the mass. the math is so insane. $46 billion that it raises. >> over 10 years. for 10 years saving a $47 trillion. >> we j

billionaire investor warren buffet says it's unfair and wealthier americans should pay more. the president is calling for a tax of 30% on incomes above a million dollars. the senate will consider the so- called buffet rule on monday. mr. obama says making wealthier americans pay more in taxes is an issue of fundamental fairness. >> in this country, prosperity has never trickled down from the wealthy few. prosperity has always come from the bottom up. >> reporter: today in florida, a state he won by less than 3% in 2008, the president finished this policy speech with a campaign-style crescendo. >> here in america, we look out for one another. here in america, we help each other get ahead. here in america, we have a sense of common purpose. here in america, we can meet any challenge. here in america, we can seize any moment. >> reporter: and president obama is making an increasing number of stops in battle ground states. we counted 51 stops since he announced his campaign. >> pelley: the campaign is on. thanks, norah. on wall street today the sell- off continued as investors wor

"nightly business report" will be there covering it and i'll have an interview with warren buffet and we'll have more of this in a few more weeks. >> tom: it will be interesting to hear what he says to say to you and the shareholders. that's coming up in the first week of may. the market rally got its groove back, at least for today, with broad-based stock buying. the s&p 500 was up from the opening bell, and continued climbing through the afternoon, ending higher by 1.5%. today's buying puts the index just above last week's high. with apple on the upswing, the technology sector led the charges, up more than 2%. the energy and industria sectors were up more than 1.5% each. in europe, spain sold more government bonds than expected, a sign of confidence by investors. that helped improve the mood of the market, as did a positive earning report from global beverage giant coke. coca-cola's first quarter came in two cents ahead of estimates. even european sales volumes were up for coke. the news sent coke shares up 2%, rising to their highest price in more than a decade. two big tech stocks

far more poverty declining standards of living for everybody except those at the very top the warren buffets will they'll do fine in case you're worried about where warren is getting his next pizza but the rest of us are going to be massively harmed we already have been around would care to american working families income hasn't gone up in real terms since richard nixon goes the goal went in a very long bad period and speaking of richard nixon back in the seventy's we thought of wage and price controls that are there any takeaways there that we need to be reckoned well they were the republicans just for today an example don't hesitate to put on those kinds of patella tarion telecare in controls and nixon did it just by executive order he didn't even bother to ask the congress probably the congress would have gone along but he didn't even bother you just act like a dictator just like obama and george w. bush and all the rest of the stuff they just issued the edict and say let it be so it's like a pharaoh or or an absolute monarch so that's the way they would do it we face possible capital co

it is named after warren buffet who says it is wrong he pays a lower tax rate than his secretary. it will require anyone who pays more than a million doll arizona a year will -- a million dollars a year will pay higher taxes. >>> we are learning there is more than one. these are live pictures from the press conference in baltimore. megamillions jackpot winners, there are three of them and they have chosen to stay anonymous. we know they are public school teachers. one wants to take a european hike. there are two other winning tickets that were purchased. the winner in kansas has also chosen to stay anonymous. and the other winner has not come forward. >> sal, could you buy us a new commute this morning? >> i will but it is going to rain. we have been told, steve and i are the traffic and weather brothers. a lot of people have spring break away from school or people take some time off so we may get lucky that way. let's look at the pictures. this is interstate 880 in oakland and traffic is moving along nicely. also at the bay bridge toll plaza, no major problems coming into san fra

if they passed 999, you know what warren buffet would pay a year in taxes.dollars. they are not working on the right problem. they need to throw out the tax code . buffet would not make the at the same time that his secretary pays more in taxes . he is a 25 percent owner of brook theretoshire hathaway. that would be when he pays more for the secretary. >> look at what is in play right now. you aring a series of events to keep the focus on the economy and not just the presidential contest. you are looking at key senate and congressional races for the upcoming presidential race. >> absolute like i mentioned getting on message and keepinglet voters focused on the message. it is brains and bail - on ballots. we want to boost the economy and it starts with throwing out the tax code. i was the only candidate running in the primary and i hope to have influence with governor romney and his campaign. keep it focused on energy independence and sound money. inflation is a silent tax on too many americans and when you compound that with the price of gas going up. the av

kristen help me help warren buffet in the next administration help obama get reelected by promoting envy the great evil the bentley but it also helps warren buffett again by crushing his concern is his a potential competitors and you wouldn't think these guys these guys care about but they do they hate and fear competition again especially coming from people rising up in new areas new industries new kinds of businesses the government is not already controlling and crushing and threatening their position just from a from a status and from an economic standpoint similar you see one state before we go we just have a minute but it never really did and proposing for higher taxes also on capital gains and investment income like the super rich make would that change your mind about things are you know because i think people's i think people's capital gains i think all these taxes are far too high on the grid for a while and we want people to invest we want people to make capital gains so no that wouldn't do it at all i would just like to see warren buffett cut loose from the from the safety net

you've heard that my friend warren buffet pays a lower tax rate than a secretary, because he's the oneinting that out and saying we should fix it. the executives who are with me here today, not just behind me but in the audience, agree with me. they agree with warren. this should be fixed. they, in fact, have brought some of their own assistants to prove that same point. it's just plain wrong that middle class americans pay a higher share of their income in taxes than some millionaires and billionaires. now, it's not that these folks are excited about the idea of paying more taxes. this is a thing i've always made clear. i have yet to meet people who just love taxes. nobody loves paying taxes. in a perfect world, none of us would have to pay any taxes. we'd have no decifits to pay down, and schools and bridges and roads and national defense and caring for our veterans would all happen magically. we'd all have the money we need to make investments in the things that help us grow investments, by the way, that have always been essential to the private sector's success as well, not just --

he named it for warren buffet. no millionaire should pay more taxes than secretary.lking 37 billion over ten years. republicans say that's exaggerated. >> that means you pay 30 percent you retire take that money and invest it you are still taxed another 30 percent. right now it's 14 percent. buffet pays 14 percent in taxes. >>> insta gram another form of social network. >> this is facebook's biggest acquisition to date. they bought the photo sharing app for a billion dollars. what is so cool is insta gram hz 14 workers the ceo adds 14 million to his name. people love sharing photos on the site is one of the draws now -- >> now you can post it? >> i don't use insta gram. it just became available for android users a million users signed up in the first 12-hours. i am not one of them. this is one of the apps that people love. >> the app is free. you can get it on your iphone as well. >> amazon beating out wal-mart. >> it kind of makes sense because they don't have physical stores they don't have to contend with the costs. according to the on-line perception amazon is ch

at least warren buffet has a conscious.icans can't mate ends meet, why should we have a ryan-romney plan that says we're going to voucher out medicare and make it more expensive for those in our country. those that have a great deal news to muster up to the plate here, and we can't afford more tax cuts for the 1%. we have to solve the deficit problem. i think warren buffet has a conscious, he has a conscious business community and people know nay need to be part of the solution. but those with so much should not expect more from the public dole at this really critical time to balance our accounts and put us on a trajectory for robust job growth that requires some restraint in the deficit. they'll have to be part of the solution. >> thank you both for your time tonight. >> thank you. >> still ahead. carl rove and rush are saying some outrageous things about the president. that's next. [ woman speaking indistinctly over radio ] home protector plus from liberty mutual insurance... [ alarm blaring ] where the cost to repair you

. >>> this morning, he travels where he will once again push for the warren buffet rule. he says it's wrong he pays a lower rate than his second. it requires -- than his secretary. >>> a new poll shows how americans feel about the buffet rule. >>> rain is expected later today. lorraine blanco is live in the park, are you seeing any light rain already lorraine? >> as you can see it is wet and we have a couldn't september triesel. it is quite slick so give yourself some extra time and drive cautiously. last month it was the toughest in 80 years and it is way more than average, it was a very wet march and here in the park the total is a little more than 20 inches and that's way below where the total should be. we need this wet weather and it will stick around for your workweek so pack up that umbrella a little longer all week long to avoid any potential problems. 6:07 back to you. >>> sal, what do you though? >> that's right, the fire department department just got on the scene of this trash. this is 580 just after the 13th exit which is actually high street. it was reported

this was inspiration from warren buffet who often points to his low tax rate when it comes to paying capital . >> it's a pretty simple principle. it says if you make more than $1 million a year you should not pay a lower tax rate than your secretary. >> the senate is set to vote on that bill next monday. now democracy 2012 news this morning a new poll shows the presidential race looking like a two-man faceoff, president obama enjoying a lead. it seems the president now has a 7-point edge over the gop front runner mitt romney. the advantage is among women. the poll shows in men the president trails romney by 8 points. >>> taxpayers in new jersey aren't too thrilled about getting the bill. we'll tell you how much taxpayers now have to fork over. >>> also easy to steal a cell phone and keep using it. now the federal government is stepping in to make that cell worthless for thieves. >>> thanks for joining us on this tuesday morning. some taxpayers in new jersey rbt happy about footing the security bill for whitney houston. the final tab reached nearly $200,000. and some argue that her fa

warren buffet says it's unfair he pays a lower tax rate than his secretary. >> san francisco police are looking for a woman who attacked a man with her high heel shoe. they say she hit him when he tried to intervene in a fight. police tell us the man was treated for a cut on the head. officers say they do have a photo of the woman. if arrested she could face aggravated assault charges. >> i'm really concerned about the fate of this young child. >> search teams comb new areas about see your a lamar. why they're having difficult staying optimistic. >> we still have a few showers right now on live storm tracker 2. coming up thunderstorm potential for thursday and friday and the big changes to your weekend forecast. this check, what's that? when i take a pict this ch, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. man: we need a good night's sleep. woman: which means a little heat

deficit budget and tax us is the not only ones, and warren buffet is now focusing on healthcare after being diagnosed with early stage prostate cancer. he told share holders about his medical condition adding it is not a life-threatening. he says he feels great and plans on continuing his practice while under medical treatment. >>> and a report on that infamous pepper spraying report. she said she takes full responsible. she is vowing to make sure such an incident never happens again. they blamed a communication breakdown between administrators and other areas that received worldwide attention. >>> time now 47, they are relieved a group of requested aers were are living there for about a year now. they are trying to get the squatters removed and we got a look inside the home at the necessary the squatters left behind. >> these -- at the mess, the squatters left behind. >> they are pigs, they steel utilities, they steel from around the neighborhood... >> we are told five people lived in that home including some children. way point homes says the junk will be cleared out today. >> one s

somehow he is conflating the small and medium size business people with the likes of billionaire warren buffetreally got to stop the intrusion of more and more government. washington's got enough money it's spending. >> again, the white house counters with this fairness argument and they even raise the possibility that the rate could even be higher. the 30%, they say, is a floor. not a ceiling. steve, gretchen, brian. >> steve: doug, thank you very much. live report from the bureau. >> brian: now the rest of the headlines. >> gretchen: the developer of the keystone xl pipeline says he found a new route through nebraska, avoiding the environmentally sensitive sand hills that the white house cited when it rejected the project. keystone's developer says details of the new proposal will be released during public hearings with nebraskans environmental officials. >> steve: terrific. secretary of state hillary clinton weighing in on president obama's open mic moment with russian president. he's seeing more flexibility on muscle defense after he's reelected. clinton disagreeing with republican preside

this goes back to warren buffet, the billionaire and the argument he should pay the same tax rate as ils in this explanation of the buffet rule to get a full understanding. i think what the obama administration is banking on is that the average american will not do the research and dig a little deeper to find out what the true tax rates really are. >> senator kyle says, look, when you do the numbers, wouldn't even work. here's the senator with greta last night. >> do the math. this year, 2012, it would raise about a billion dollars in revenue to the treasury. our deficit this year is projected under obama to be $1,300 billion, well it would be $1 trillion $329 billion if this tax revenue is collected so it doesn't do anything to help the real problems that america faces and, in fact, it would make things a whole lot worse because it directly hits people who we're expecting to create new jobs. >> ultimate theory is if you believe in the buffet tax, people who are paying 15% of their taxes aren't giving money to charity. if you start taking that money, you redirected money into the char

. >> warren buffet poised to be part of the tax code. the president's push to put the so-called buffet rule to tax the rich into practice. >> and the labels lying. the new finding showing those toxic free nail polishes aren't so safe. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. thank you for the lovely meal, jane. mom. and maybe this is just the cake talking but let's celebrate! [ male announcer ] buy any kfc 10 pc meal or larger and get a free double chocolate chip cake. . >> new information now in a story we reported for you on the 10:00 news. the city council has denied a permit to a popular nightclub to expand it's current facility. the carlos club wanted to build a back patio and new kitchen but the council voted against granting the permit despite previous approve alabi the planning commission. some expressed concern it could attract larger crowds

the bucket rule is named after warren buffet who says he pays lower taxes than his secretary. anybody making more than a million dollars a year will pay 30% tax rate. currently wealthy people only pay 15% tax rates if their money comes from investments. >>> three area ceos, students and unions say they will first head to the home of chevron ceo in lafayette then on to the home of meg whitman and then to san francisco. the group says they will contact the neighbors of those ceos asking them to sign a pledge for the van anybodying middle-class. >>> driver was slumped over the wheel, he had an apparent heart attack and is now in gave condition. jeremy reacted as the bus headed straight for a church and another boy also started cpr. >> i leaped off my chair, turned it right, get it to the right side of the road, i take the keys off the ignition, started slowing down. >> i ran up tried doing chest compressions but his eyes were rolling back and i could tell it was getting harder for him to breathe. >> other students called 911, none of them were hurt. >>> facebook spends over a bil

. >>> topping america's money, who follows warren buffet.ncer and so share hold remembers more likely to pressure him to announce a successor. >>> shareholders are mad at citi group. they voted against the pay package t was a non-binding vote but the first at bank. more protests could follow elsewhere. >>> and the president wants congress to give regulators against oil speculation. man inyou lace leads to shortage. for republican these are unlikely to go along in the election year. >>> swen a penny worth a million. when it is from 1792. one of the first struck by the mint. there is a bid of a million for the cent. the hammer comes down on the auction tomorrow night. that's america's money. >>> information in the scandal involving secret service agents. >>> and questions this morning following a deadly crash. what led to the death of a young mother. >>> hearings abg. >> thank you for joining us. >>> let's go to lynette, things could be changing. >>> you liked the weather yesterday but we hope to see a wet wednesday, cooler and this afternoon

coming up, president obama's favorite billionaire, warren buffet, said that he wants to pay more taxescoming up next, we will tell you about a monumental dispute between one of buffet's companies and the president's own irs. apparently they owe a lot of money. we have the great, great, great american panel straight ahead. whoa. right? get. out. exactly! really?! [ mom ] what? shut the front door. right? woop-woop! franklin delano! [ male announcer ] hey! there's oreo creme under that fudge! oreo fudge cremes. indescribably good. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 1year lipper average. t. rowe price. invest with confidence. request a prospecs or summary prctus with investment information, risks, fees and expenses to read and consider carefully before investing. the sleep number bed. the magic of this bed is that you're sleeping on something that conforms to your individual

coming up, president obama's favorite billionaire, warren buffet, said that he wants to pay more taxes. coming up next, we will tell you about a monumental dispute between one of buffet's companies and the president's own irs. apparently they owe a lot of money. money. we have the great, [ tom ] we invented the turbine business right here in schenectady. without the stuff that we make here, you wouldn't be able to walk in your house and flip on your lights. they go into power plants which take some form of energy, harness it, and turn it into more efficient electricity. [ ron ] when i was a kid i wanted to work with my hands, that was my thing. i really enjoy building turbines. it's nice to know that what you're building is gonna do something for the world. when people think of ge, they typically don't think about beer. a lot of people may not realize that the power needed to keep their budweiser cold and even to make their beer comes from turbines made right here. wait, so you guys make the beer? no, we make the power that makes the beer. so without you there'd be no bud? that's right

the rule was named for billionaire warren buffet after he said his secretary should not pay a lower taxate or a higher tax rate than he does. republicans are strongly opposed to the rule but democrats see political benefits in the fall. steve handelsman reports. >> reporter: democrats pushed the senate vote to hike taxes on millionaires. >> when the richest few are making more than ever before they can afford to shoulder their fair share of the burden to keep this country prosper. >> reporter: the republicans charged it's not about fairness but votes in november. >> while wasting so much time on this political gimmick that even democrats admit won't solve our larger problems, it's shown the president is actually more interested in misleading people than he is in leading. >> reporter: polls show the plan backed by president obama and his billionaire buddy warren buffet is popular with voters. the buffet rule. to tax families making a million a year at least 30%. 433,000 u.s. households. it would raise just $47 billion in ten years. >> one week's interest on our $15 trillion national debt