welcome to forbes on fox we'll go to mr. steve forbes elizabeth and rick and mike. steve, is this the america you know and love? >> no, david, it is not just immigrants of the country. people here now they are trying to mke dependent on the government. that means more votes for them and you center the hidous cartoon. birth to death. corrupting us and the immigrants and got to stop it >> rick, it is it a land of opportunity and hand outs. >> no one is handing it out. >> yes, they are. nit is just information that is available. same example -- information that shows up. anybody here in the table mitt romney, his father when he came here from mexico. he got that exact kind of government aid and he turned out to be predent of one of the nation's biggest autocompanis and became governor of the state of the michigan. >> my dear friend rick unger has to be brought up to date. he didn't get them. it is supplement security income and that is it free money from the government. this is in addition to medicaid and to food stamps it is a $1,000 a month you get. it is it a lot of

welcome to forbes on fox we'll go to mr. steve forbes elizabeth and rick and mike. steve, is this the america you know and love? >> no, david, it is not just immigrants of the country. people here now they are trying to make dependent on the government. that means more votes for them and you center the hidous cartoon. birth to death. corrupting us and the immigrants and got to stop it >> rick, it is it a land of opportunity and hand outs. >> no one is handing it out. >> yes, they are. nit is just information that is available. same example -- information that shows up. anybody here in the table mitt romney, his father when he came here from mexico. he got that exact kind of government aid and he turned out t be president of one of the nation's biggest autocompanis and became governor of the state of the michigan. >> my dear friend rick unger has to be brought up to date. he didn't get them. it is supplement security income and that is it free money from the government. this is in addition to mediid and to food stamps it is a $1,000 a month you get. it is it a lot of

welcome to forbes on fox we'll go to mr. steve forbes elizabeth and rick and mike. steve, is this the america you know and love? >> no, david, it is not just immigrants of the country. people here now they are trying to make dependent on the government. that means more votes for them and you center the hidous cartoon. birth to death. corrupting us and the immigrants and got to stop it >> rick, it is it a land of opportunity and hand outs. >> no one is handing it out. >> yes, they are. nit is just information that is available. same example -- information that shows up. anybody here in the table mitt romney, his father when he came here from mexico. he got that exact kind of government aid and he turned out to be president of one of the nation's biggest autocompanis and became governor of the state of the michigan. >> my dear friend rick unger has to be brought up to date. he didn't get them. it is supplement security income and that is it free money from the government. this is in addition to medicaid and to food stamps it is a $1,000 a month you get. it is it a lot

welcome it forbes on fox. let's go in focus with steve forbes, elizabeth mcdonnel, victoria, john and morgan. good to have you all here. steve, unions putting their self interest ahead of shoppers and our economy? >> absolutely. they're still angry they haven't organized wal-mart yet. they're responding to competition and the needs of customers. that's what you're supposed to do in a free market. no one forces people to work at wal-mart. unions don't like the fact they haven't organized wal-mart. >> rick, these folks are getting paid overtime for working on thursday, right? >> yeah. let's keep in mind what this is about. it's really a one had day convenient. it's probably fair tore characterize it as a row test, a little bit more than a strike. not about wages or benefits. about work conditions, mostly in inland california area where they've had big problems with people working in way overheated warehouses, equipment that's not safe. this is what this is about. they've got a problem there. >> what the unions a

to one control shareholders that is it is so my by forbes that those on control shareholders are most probably shareholders and who else is a much less an hour. we've also keep up the trend with state own giant alexei miller head of gas prom and igor section darth vader or the as he's called by the russian media both of those figures very powerful igor search in from both of those earning twenty five million dollars very powerful figures indeed and then back to the banks german growth head of spare bank and one time economic development minister fifteen million dollars and bank of moscow had mikhail or because of you know of he also earning fifteen million. dollars although some are analysts say that that figure might be doubtful because bank of moscow has done absolutely terribly recently and has required a huge bailout although it wouldn't be the first time if it was true that a a struggling company or bank had paid its head managers ridiculously large sums none of those companies other than v.t. gave a reaction to this forbes says that it calculates the all these figures on the fin

welcome it forbes on fox. let's go in focus with steve forbes, elizabeth mcdonnel, victoria, john and morgan. good to have you all here. steve, unions putting their self interest ahead of shoppers and our economy? >> absolutely. they're still angry they haven't organized wal-mart yet. they're responding to competition and the needs of customers. that's what you're supposed to do in a free market. no one forces people to work at wal-mart. unions don't like the facthey haven't organized wal-mart. >> rick, these folks are getting paid overtime for working on thursday, right? >> yeah. let's keep in mind what this is about. it's really a one had day convenient. it's probably fair tore characterize it as a row test, a little bit more than a strike. not about wages or benefits. about work conditions, mostly in inland california area where they've had big problems with people working in way overheated warehouses, equipment that's not safe. this is what this is about. they've got a problem there. >> what the unions are

welcome it forbes on fox. let's go in focus with steve forbes, elizabeth mcdnel, victoria, john and morgan. good to have you all here. steve, unions putting their self interest ahead of shoppers and our economy? >> absolutely. they're still angry they haven't organized wal-ma yet. they're responding to competition and the needs of customers. that's what you're supposed to do in a free market. no one forces people to work at wal-mart. unions don't like the fact they haven't organized wal-mart. >> rick, these folks are getting paid overtime for working on thursday, rig? >> yeah. let's keep in mind what this is about. it's really a one had day convenient. it's probably fair tore characterize it as a row test, a little bit more than atrike. not about wages or benefits. about work conditions, mostly in inland califnia area where they've had big problems with people working in way overheated warehouses, equipment that's not safe. is is what this is about. they've got a problem there. >> what the unions are doing, an

bank here a paltry thirty million dollars now that figure calculated by forbes not just from his salary in the company also from benefits from profit sharing other things like that possible money earned to broader as well. said that that figure is debatable and forbes came back sort of citing how it had calculated that figure we've also keep up the trend with state owned giant alexei miller head of gas prom and igor section darth vader all the as he's called by the russian media both of those figures very powerful search in from both of those earning twenty five million dollars very powerful figures indeed and then back to the banks german growth head of their bank and one time economic development minister fifteen million dollars and bank of moscow had mikhail or because of you of he also earning fifteen million dollars although some are analysts say that that figure might be doubtful because bank of moscow has done absolutely terribly recently and has required a huge bailout although it wouldn't be the first time if it was true that a a struggling company or bank had paid its head man

this week represented by "usa today" and "forbes." both of you fellas have or will have a cover story, john. if folks are watching this sunday morning. which is when it usually runs -- monday morning. next day, monday morning in "usa today" about what? >> we're going to do women in v.c. >> venture capital. >> venture capital and investing. i've been trying to do a story about women in tech because there aren't enough no matter how you look at it. ceos, engineers. the percentages are woefully low. so we had a round table that we set up at facebook and they insisted on having it there. cheryl sandberg stopped by to lend her surntd and she's coming out with a book in a couple of months. it's something that i think -- it's so frustrating because women have so much purchasing power and always have, especially online now. and a lot of the start-ups are commerce-related and maybe even female-oriented, yet funding isn't quite there. >> is it -- >> for those who don't follow every bit of facebook, cheryl sandberg the number 2 at -- >> sure. >>

well in the latest forbes issue the most recent forbes issue of the magazine i wrote about the fact that the f.c.c. dismantled their accounting fraud task force after the reforms that they took on when the maid of scandal hit they were criticised significantly for missing the made up scandal and they had to beef up their reviews of investment advisors and other kinds of ponzi schemes and the insider trading what they've done is they've reorganized along those lines and accounting fraud is just sort of spread around amongst the people that have that expertise but not with a focal point and certainly not with reporting or accountability in terms of whether or not they're actually bringing the cases so the cases they've been bringing are fairly small they're instead racking up the numbers in ponzi schemes insider trading foreign corrupt practices act they've built a template and they can just replicate those charges over and over and over again because of that they're not bringing the harder sort of sticky accounting fraud cases they'll take a little bit more work those are politically unpo

well in the latest forbes issue the most recent forbes issue of the magazine i wrote about the fact that the f.c.c. dismantled their accounting fraud task force after the reforms that they took on when the maid of scandal hit they were criticised significantly for missing the made up scandal and they had to beef up their reviews of investment advisors and other kinds of ponzi schemes and the insider trading what they've done is they've reorganized along those lines and accounting fraud is just sort of spread around amongst the people that have that expertise but not with the focal point and certainly not with reporting or accountability in terms of whether or not they actually bring in the cases so the cases they've been bringing are fairly small they're instead racking up the numbers in ponzi schemes insider trading foreign corrupt practices act they've built a template and they can just replicate those charges over and over and over again because of that they're not bringing the harder sort of sticky accounting fraud cases they'll take a little bit more work those are politically unpop

all right first up sheldon adelson his worth more than twenty billion dollars any ranks twelfth on forbes four hundred richest americans list he's a casino mogul who made a lot of his fortune building casinos in macau china and he's given more than seventy million dollars to help mitt romney win this election that's more money than any single person has ever spent in an election in our nation's history in fact it's three times more so what does a dozen stand to gain from a mitt romney presidency. i don't know about two point three billion dollars that's how much it all soon will save under mitt romney's tax plan which gives people like eight also and mitt romney himself massive tax breaks on income dividends capital gains and a state's similar romney administration errors also stand to gain an additional nine billion dollars once the guy croaks. president obama's justice department is investigating a sin for corruption and bribing foreign officials to get his casinos built in macau so for a dosen an investment in mitt romney and a new justice department could put an end to this investigat

well in the latest forbes issue the most recent forbes issue of the magazine i wrote about the fact that the f.c.c. dismantled their accounting fraud task force after the reforms that they took on when the maid of scandal hit they were criticised significantly for missing the made up scandal and they had to beef up their reviews of investment advisors and other kinds of ponzi schemes and the insider trading what they've done is they've reorganized along those lines and accounting fraud is just sort of spread around amongst the people that have that expertise but not with the focal point and certainly not with reporting or accountability in terms of whether or not they're actually bringing the cases so the cases they've been bringing are fairly small they're instead racking up the numbers in ponzi schemes insider trading foreign corrupt practices act they've built a template and they can just replicate those charges over and over and over again because of that they're not bringing the harder sort of sticky accounting fraud cases they'll take a little bit more work those are politically un

well in the latest forbes issue the most recent forbes issue of the magazine i wrote about the fact that the f.c.c. dismantled their accounting fraud task force after the reforms that they took on when the maid of scandal hit they were criticised significantly for missing the made up scandal and they had to beef up their reviews of investment advisors and other kinds of ponzi schemes and the insider trading what they've done is they've reorganized along those lines and accounting fraud is just sort of spread around amongst the people that have that expertise but not with a focal point and certainly not with reporting or accountability in terms of whether or not they're actually bringing the cases so the cases they've been bringing are fairly small they're instead racking up the numbers in ponzi schemes insider trading foreign corrupt practices act they've built a template and they can just replicate those charges over and over and over again because of that they're not bringing the harder sort of icky sticky accounting fraud cases those take a little bit more work those are politically u

>> well, more and more the "forbes" 400 come from the financial arena. we've got a huge economy and people that catch the crumbs falling off the table can make a lot of money. >> jon: that's an incredibly honorable way to describe them. (laughter) crumb catchers! (laughter) do you think we have a satisfactory domestic economic policy? >> well, i think what made america great is going to continue to work. but i think that, you know, the last year -- couple of years washington's kind of tested the patience of the rest of -- t -- but we've got 312 million people that i don't think 535 can impede their progress over time. >> jon: now, you guys have been friends for a long time. >> 45 years. >> jon: 45 years. he is -- i don't know, the eighth largest company or the -- >> i think it's seventh, actually. anyway, high. >> jon: and you're a very nice woman who's done very well for yourself. do you resent his success? (laughter) are you a -- when you talk to him, do you say "why don't you distribute the wealth?" >> that's the initial five minutes of every conversa

you may know her as the youngest woman ever to grace the forbes billionaire list. here's abc's juju chang. >> red carpet secret? >> spanx. >> spanx. >> spanx. >> reporter: it's the not so secret secret to looking slim and trim. >> you have got to wear spanx. >> love them. >> reporter: that must-have undergarment. >> spanx. >> reporter: celebrities can't stop blabbing about. >> spanx. >> best invention ever made. >> reporter: that word of mouth has paid off. spanx now sucks in 250 million dollars in annual sales. with not one penny of advertising. >> i think the magnitude of all of it only hits me in moments. >> reporter: the woman behind all those shapely behinds, sara blakely, the inventor and founder of spanx. >> it's hard for me to absorb. like, that's a product i created, you know? i created that. >> reporter: spanx is now to shape ware what kleenex is to tissue. a billion dollar household name. what >> what we hear the most from e-mails and phone calls is confidence. i feel confidence that i don't have normally. just -- it's a really great feeling. >> reporter

randy forbes is probably the happiest guy. he will become the sea power chairman. a great job. >> specially from the tide water. we will continue that in a moment. >> we're back with our roundtable, and i want to pick up the conversation where we are on the leadership positions and who will take what on capitol hill. who will be, you mentioned randy forbes moving to sea power, which would be good for a guy from the tide water. who are some other guys, who will replace bartlett should. >> probably thorn including berry, who has been in the back water, a good place for him. >> and he's well respected. >> well respected. >> and awfully nonpartisan in the congress that's becoming -- >> and the republican is the loser, walter jones, because -- of his opposition to the war in afghanistan, he will never get a job even though he's second ranking. >> and the senator from michigan, i was there was some not that mow ran might get it, but it looks like he he won't contest that. >> but we need to set this in the context, this was not an election about defense. and right now, de

joining us from "forbes." you have to find things to put your chips in. you're running out of things, aren't you? >> well, the exciting piece is we are moving into the new era o of digital lifestyle. >> are the chips that run the digital lifestyle going to be marvell chips? >> i think marvell will be one of the key leaders to empower the era of digital lifestyle. we have the history of 17 years of marvell, we have invested it for a long term, from storage to communication, to mobile, to connectivity. today, our chips from cloud infrastructure to the mobility, so we are ready to empower and connect the lifestyle any ti timener. >> marvell is not necessarily a household word the way intel is and to a lesser degree. amd. there are a million marvell chips out there, right? >> yes. >> a tremendous number. >> the key is, as a semiconductor leader solution provider today, it's very very important we have to be very sensitive about having the software capability because today, it's no long ear stand alone chip, no longer building blocks, about who can put product

. >> joining us throughout the morning, congressman randy forbes of virginia, delaware governor jack markell, jim clyburn, obama campaign senior adviser david axelrod, bob mcdonald, ted strickland and bob shrum, a democratic consult and the who worked on the kerry and gore campaigns. special election coverage here on cnn begins right now. >>> it is up to the american people right now. good morning and welcome to our special edition of "early start." we have complete 4ri6 coverage of election day 2012. over the past 17 months we've watched two campaign spend a combined $3 billion, two candidates duel it out in three dramatic debates, all trying to win your vote. now more than 1 million campaign commercials later, 1 million campaign commercials later, the polls are opening. voting is beginning in parts of vermont. mitt romney not letting up on this election day. he's added two final campaign stops in cleveland, ohio and in pittsburgh, pennsylvania. both of them, of course, critical battle ground states. (is in chicago today. aides say he is likely to continue his election day tradition

steve forbes, chairman, editor-in-chief of forbes media with me now. how are you doing, steve. good morning to you. >> how are you, bill? bill: i'm doing fine. hope you had a good thanksgiving too. this is a sad reality for so many millions of americans. if unemployment benefits are scaled back or lost to many of them, do you believe that others believe it could have a significant impact on our economy? >> well, it is not so much the impact on the economy, it is on those particular individuals and in terms of enabling them to get new schools or to take jobs. one of the things that a lot of people are coming to grips with, they're not going to get the kind of job they had before this economic crisis and will have to lower their expectations but on this whole thing on the unemployment benefits, i, that is going to have to be dealt with, obviously as part of the fiscal cliff. i think given all that has to be done, bill, i think the most realistic thing, take everything, extend it for 90 days or 180 days so we don't have the idea we can reform social security, medicare, medicaid, t

our guest host this morning, jeremy siegel and steve forbes. we've talked about the fiscal cliff and some other issues out there but we have not talked about this heightened tension in the middle east. steve, what do you think comes from this, at this point, and do you worry about what it means for the markets back here as well? >> well, yes, because obviously it's going to have an impact on the oil markets and the israelis i don't think anticipated they were going to have to escalate this thing so much, i think they thought hamas would back down, clearly they haven't. this gets involved with syria so even though we don't have a blowup with iran this could explode out of control and the israelis have to make a decision. they recalled up 75,000 reserve is, more as to cool this thing down or something happens. what if this something has to happen, that will be uncontrollable. >> jeremy we thought the tensions between the middle east would be between israel and iran. this has people paying attention. >> this is a test from egypt and the change in

first our company for the for the hour, former presidential candidate steve forbes and radio host and best-selling author, monica crowley. to you first, you're both conservatives. monica, who is going to win. >> governor romney will win the presidency by three percentage points and over 300 votes. stuart: are you being objective? >> i hope not my wishful thinking. over last month and a half i have been to most of the swing states. the energy is palpable. not something easily to discount. we have momentum on our side. between the economy and mitt romney's message and the fact that people are proactively voting for mitt romney, rather than just against barack obama me as huge deal. stuart: steve forbes, who wins? >> the last election i predicted obama would win by sizable margin. this time it is going to be romney, 3 to 5 points. that means an electoral college landslide. i even did it state by state. 321 to 217. stuart: wait a minute. two conservatives here, both of whom obviously want mitt romney it win. both you said -- objectively, point to, tell me the reason why you're so confiden

in this situation, what would steve forbes do? pill * these are big, big issues and negotiations will go late into the night. we'll get steve's take coming up on that. martha: an investigation is underway after a small plane carrying three pilots crashed into a neighborhood. what witnesses heard and saw there. bill: there were serious questions about eric holder and the petraeus affair. why didn't he tell the white house any sooner? >> lawmakers want to know in terms of when petraeus found out. he was under investigation. has it had any impact on the comments he made to senators about benghazi and what he knew? we just learned general petraeus says he does want to testify about benghazi. more in a moment. >> you can't get to the bottom of benghazi without him testifying. i want to hear from him what he knew before, during and after the attack. there is nyoo substitute for his testimony in my view. structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today. is what drives us to b

in this situation, what would steve forbes do? pill * these are big, big issues and negotiations will go late into the night. we'll get steve's take coming up on that. martha: an investigation is underway after a small plane carrying three pilots crashed into a neighborhood. what witnesses heard and saw there. bill: there were serious questions about eric holder and what he knew about the petraeus affair. why didn't he tell the white house any sooner? >> lawmakers want to know in terms of when petraeus found out. he was under investigation. has it had any impact on the comments he made to senators about benghazi and what he knew? we just learned general petraeus says he does want to testify about benghazi. more in a moment. >> you can't get to the bottom of benghazi without him testifying. i want to hear from him what he knew before, during and after the attack. there is nyoo substitute for his testimony in my view. structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today. is

steve forbes sid we should just fall off the fiscal cliff and let the cards fall where they may and let this president take the blame for it, t i do believe, you guys, they're going to work a deal. as for benghazi and susan rice, i think that this is worse than watergate. if the president does double down it will backfire on him. lou: the last word. >> the only has so much political capital to spend. he spends it all once is a rise, which i think is a fool's errand because we don't know where this is going. we do know that their have to be other hearings. could not end today please today was a very bad day for him on this. lou: as we watch all this one can begin to understand his error in senate. he, david axelrod, his reelection campaign, his administration, they have successfully fended off an inquiry from the republicans, the national media, won reelection, and they look like they are one heck of a lot smarter than the republicans. thank you very much. appreciated. good to see you. lou: that petraeus sex scandal. without it would we have never learned more about a dozen? and paul was

steve forbes said we should just fall off the fiscal cliff and let the cards fall where they may and let this president take the blame for it, but i do believe, you guys, they're going to work a deal. as for benghazi and susan rice, i think that this is worse than watergate. if the president does double down it will backfire on him. lou: the last word. >> the only has so much political capital to spend. he spends it all once is a rise, which i think is a fool's errand because we don't know where this is going. we do know that their have to be other hearings. it could not end today please today was a very bad day for him on this. lou: as we watch all this one can begin to understand his error in senate. he, david axelrod, his reelection campaign, his administration, they have successfully fended off an inquiry from the republicans, the national media, won reelection, and they look like they are one heck of a lot smarter than the republicans. thank you very much. appreciated. good to see you. lou: that petraeus sex scandal. without it would we have never learned more about a dozen? and

steve forbes said we should just ll off the fiscal cliff and let the cards fall where they may and let this president take the blame for it, but i o believe, you guys, they're going to work a deal. as for benghazi and susan rice, i think that this is worse than watergate. if the president does double down it will backfire on him. lou: the last word. >> the only has so much political capital to spend. he spends it all once is a rise, which i think is a fool's errand because we don't know where this is going. do know that their have to be other hearings. it could not end today please today was a very bad day for him on this. lou: a we watch all this one can begin to understand his error in senate. he, david axelrod, his reelection campaign, his administration, they have successfully fended off an inquiry from the republicans, the ational media, won reelection, and they look like they are one heck of a lot smarter than the republicans. thank you very much. appreciated. good to see you. lou:hat petraeus sex scandal. without it would we have never learned more about a dozen? and paul was go

as we told you earlier forbes saying that 11 states are in a death spiral. their words. don't buy house in the 11 states, don't invest in their municipal-bond. joiiing us from one of those states is scott kennedy in chicago, ill.. what do you make of that? >> i totally agree. i am not going to buy another house in this state ever again and as markets said, at some point we will run out of spending other people's money. we can support the maxes with the tax rate here and obamacare on top of that. we are in a death spiral and more people will be leaving the state. stuart: i think you are a lifelong illinois guy and you are saying you would never again buy house in this state? really? >> do you know what the real-estate taxes are here? astronomical land set to go higher so we are going to be taxing those who bought houses already. people are not going to buy any more but they can't rent either because nobody is buying. we have a situation where you can have any housing. we have that problem with residential real-estate and as we have business owners scrambling with their ac

. >> thank you for watching forbes on fox. number one business block continues. voting for higher taxes. voters i california chooses to increase their own taxes over the threats from the governor to shorten the school year. we should make it shorter to save taxpayers money everywhere. i am cheryl casone. we have tracey and john and wapeand julian. and tracey. john, you say shorten the school year before raising taxes. what is the problem? >> you know me. i am all about the kids. i am all about the tpayers, too. we know that public schools have been a failure and short of privatizing them, best thing to do cut them 25 percent. that would be a good start. not only help the kids but improve their education and help the taxpayers who wouldn't be forced to continue to participate in a failing system. >> tracey is all about the kids. yawn thon -- johnathon. >> watch out big bird. i can't believe we are talking about imposing on our children the gross mistakes the adults have made. the education system is not a total failure. there are definitely issues with it but the

steve forbes said we should just fall off the fiscalcliff and let the cards fall where they may and let this president take the blame for it, but i do believ yu guys, they're going to work a deal. as for benghazi and susan rice, i think that this is worse than watergate. if the president does double down it will backfire on him. u: the last word. >> t the only haso much political capital to spend. he spends it all once is a rise, which i think is a fool's errand because we don't know where this is going. we do know that their have to be other hearings. it could not end today please today was a very bad day for him on this. lou: as we watch all this one can begin to understand his error in senate. he, david axelrod, his reelection campaign, is administration, they have successfully fended off an inquiry from the republicans, the national media, won reelection, and they look like they are one heck of a lot smarter than the republicans. thank you very much. appreciated. good to see you. lou: that petraeus sex scandal. without it would we have never learned more about a dozen? and paul was

steve forbes said we should just fall off the fiscal cliff and let the cards fall where they may and let this president take the blame for , but i do believe, you guys, they're going to work a deal as for benghazi and susan rice, i think that this is worse than watergate. if the president does double down it will backfire on him. lou: the last word. >> the only has so much political capital to spend. he spends it all once is a rise, which i think is a fool's errand because we don't know where this is going. we do know that their have to be other hearings. it could not end today please today was a very bad day for him on this. lou: as we watch all this one can begin to understand his rror in senate. he, david axelrod, his reelection campaign, his administration, they have successfully fended off an inquiry from the republicans, the national media, won reelection, and they look like they are one heck of a lot smarter than the republicans. thank you very much. appreciated. good to see you. lou: that petraeus sex scandal. without it would we have never learned more about a dozen? and pau

forbes magazine, one of the worst spiral states. forbes came up with that great nomenclature. the death spiral state. named 11 of them. california right at the top. for every 100 private sector workers in california, for every hundred working in the private sector california has only 139 people dependent upon it for their employment, welfare in some fashion. so how are they doing that in california? obviously they're not. stay voters just passed a ballot initiative that will raise sales tax and income tax for people who make at least $250,000 per year. don't worry about it. by the way, that was after the tax report foundation ranked california's business tax climate as the third worst in the country, the third worst. can you imagine next year? and let's turn to illinois. the third worst run state in all the country. in 2010 the state budget deficit was more than 40% of its general fund. 40 percent. the second highest of any state. s&p and moody's both give illinois the second worst credit rating in all of the 50 states. illinois is funded 45% of pension liability, the lowest p

steve forbes believes that we should not have anybody pay income on capital gains. is that not correct? >> on money that you've already earned, on-- >> on capital gains. >> money you've earned. >> you're making money and money that-- >> hold on almost out of time and have a last question. if you want people like me to pay higher taxes, okay, or people like yourself to pay higher taxes, did you bring your checkbook today? >> i don't have my checkbook. stuart: will you write a check to the government and pay the taxes voluntarily that you want others to pay. >> taxes are not a voluntary process. taxes the price-- >> you want other people to pay, you're a millionaire and you want other people to pay higher taxes, why don't you get right out in front. >> i want all of us to pay higher taxes. stuart: i challenge you to do it. >> this is entirely beside the appointment. stuart: you make millions, but won't do it yourself. >> i'm trying to make us all. stuart: you inherited your wealth. >> you and i should pay equally. and you're now asking why should you be able to free r

11 states are in what forbes is calling a financial death spiral. and william baldwin, he wrote the report and he says the states on the green leave more takers than makers, and he suggests that we should not invest in the states and shouldn't buy their bonds and don't buy a house there, rent instead. and steven is with the manhattan institute. don't buy a house there, don't invest in their bonds, what's steve mar langea say about that. >> and let's take the part first, politicians in the states themselves said this, rahm emanuel said this year, if we don't fix our pension problems you're not going to get a family to buy a house in chicago and not going to get a company to invest in chicago, why? remember what milt freeman said about government debt, nothing more than taxes that haven't been collected. people understand that now and see that in particularly local communities where most, most pension funds are funded with property taxes and they know property taxes are going up and in massachusetts the massachusetts taxpayer association did a study c

welcome to forbes on fox. we'll go to teave, and rick and victoria and morgan and elizabeth. stove is not repealingealth care law hurt the recovery? >> it will hurt subis it notly. it will hit the bad ps and no coincidence after the election . taxes are going for individuals and businesses. do they dump the people on medicare and you will see another thing happen, fewer full-time yobs and not catching up in obamacare. >> rick unger, it is not just businesss and folks of businesses making over $150,000.ine those making $50,000 or more it will cost them money . it is going to cost and maybe it is good in the long run but it costs. >> the arguments remind me what we heard in the 60s when fica taxes were doubled to pay for medicare . we survived. you would not imagine calls have had business owners and cancer survivors it is going to survive and now the law of the land. we'll talk about it in three years and not going to cost a yob. jobs are going to grow. >> is this a rick unger. are you willing to put money on the bt? >> i am absolutely willing to put my money on it >> mike, in

we'll crunch the numbers and steve forbes rejoins us and the fiscal cliff looms large and country star ricky skags. stay with us. . >> just as we are getting signs that housing is turning around. another nation showing us how t. spain offering foreigners permanent citizenship. will this help america's housing market do you think? >> it should be residency and not citizenship. we had seven million immigrants coming to this country and buying homes and shopping in target and we have a hugely beneficial imact on the economy and attract the right kind of immigrants and want to work here and every immigrant has a right to come here. it is free to buy home as well. >> oh, my god. mexican drug lords with gobs of cash can buy and we give them citizenship. it is crazy. it is totally crazy it takes more than money to be citizen of the united states of america. it is it a privilege and not just something for people with cash. >> i didn't see that one coming. >> fox news alert. i agree with johnathon. i am not sure this ever. trust me, it is really, really hard to be here in the greatest country i

welcome to forbes on fox. we'll go to teave, and rick and victoria and morgan and elizabeth. stove is not repealing health care law hurt the recovery? >> it will hurt subis it notly. it will hit the bad pars and no coincidence after the election . taxes are going for individuals and businesses. do they dump the people on medicare and you will see another thing happen, fewer full-time yobs and not catching up in obamacare. >> rick unger, it is not just businesss and folks of businesses making over $150,000.ine those making $50,000 or more it will cost them money . it is going to cost and maybe it is good in the long run but it costs. >> the arguments remind me what we heard in the 60s when fica taxes were doubled to pay for medicare . we survived. you would not imagine calls i have had business owners and cancer survivors it is going to survive and now the law of the land. we'll talk about it in three years and not going to cost a yob. jobs are going to grow. >> is this a rick unger. are you willing to put money on the bet? >> i am absolutely willing to put my money on it >> m

north america, the walkable city, and the best green policies, the green tech of north america and forbes recognized that san francisco has the most green jobs in the united states. that's jobs. that's one of the most important things we are doing for the whole country. [applause] and we are creating and sustaining jobs as well as supporting new industries in our city. our energy watch program creates or sustains 180 jobs a year. san francisco has now achieved 80% landfill diversion rate setting the national recycling and compost records as the high of any city in north america. [applause] and by the way as a former public works director you ought ton how proud i am. we have the best compost in the united states and in fact it's sold to all of the wineries in napa that make and produce the best wines in the world. our partners employs over a thousand green collar employees and solar sf resulted in hiring from employees from disadvantaged communities in the work force program. i want to acknowledge and thank green build towards considering toward the success and the projects and the living