In a move to lower the tax bills more firms are making merger deals with Foreign Companies and moving headquarters away from the kriets with a country with a lower tax base. Inversion. It is greed or Good Business . Thats our cover story. Wisconsin based Johnson Controls and Tyco International announced a plan to merge with a Company Headquarters in ireland. They say it is not only for tax reasons the move is expected to save 150 million a year. They are part of a trend of businesses moving overseas and lowering their tax bill, in part because the u. S. Corporate income tax is 39 , among the highest in the world. Although with the deductions and loopholes few companies actually pay the full rate. Using a technique called inversion they can reincorporate in another country and pay the there. Year to combined u. S. Based Pharmaceutical Company fooizer with allergan and moving to the tax rate the 152 billion deal is still pending and they are not alone. It includes medtronices which moved to ireland. Even miamibased fast food giant burger king merged with tim hortons. When American Companies shift their legal headquarters abroad and who loses . Walt wither isaacson is the ceo can of the aspen institute. Today. Great to be with you, becky. Is this Good Business or greed . I think we have to balance the question of whether a corporation is supposed to be focused only on the short term return to the shareholder or whether the corporation has other stakeholders, suppose to advantage but also for people and communities where they live. We have always had that debate. It has to be a balance. The problem is with a 39 Corporate Tax rate, and 150 million to be made each year, if you do an inversion like the one you talked about, then the balance tips and people move jobs overseas. So we have to take away the perverse incentives, especially in the tax code, that allow these things to happen. I agree completely. If you look at how these thins work it is almost a law of capital will go where it is best treated and maybe sticking aroundf the rate is marginally lower in other places but you are talking 39 tax base to 12 1 2 tax base when you talk how did we get this far out of wack . What is wacky is we have a 39 Corporate Tax base but actually corporations pay a lower rate than any other industrialized country. Per gdp. We have a complicated tax code with all sorts of loopholes and deductions and i think across the board you have support for simplifying the tax code, which would allow you to bring the rate down to 25 , which i think would solve a lot of problems. It sets up an uneven playing field. I think Big Companies have ways to find another point, whether it is donald trump on the republican side or Bernie Sanders on the democrat side, they are fighting against corporations, corporations are messing you up, moving jobs overseas. Theres a sense the game is rigged in favor of big corporations with lobbyists. Not only do you get a bad Economic System with this complex code you pervert the political process and have people on both extremes of the political spectrum attacking corporations. You said it yourself. Theres definitely bipartisan support. Democrats and republicans agree it is a stupid tax policy. How come nothing has changed . Across the spectrum, you can see certain thins that could be easily done to simplify the tax code. Why it is not happening . Partly because the people who are worried about capitalism are right, a lot of big lobbyists want to keep this particular deduction to make the tax code more complicated. And secondly we have a political process that just doesnt work with well these days. So i would hope the next big push would be a great bipartisan, nonpartisan push to simplify the Corporate Tax code, bring the rates down somewhat. It what been 30 years since we really saw an overhaul to taxes, in 1986, do you think we can finally get both sides together . And by the way, can Corporate Taxes be restructured without personal taxes too. Yeah, i think you could do a simplification of the tax rate. You know, also not give the perverse incentives of acquired debt rather than equity financing. All these things built in to the system and maybe one way to push the politics toward fixing it is make companies be transparent about their tax returns. So people can look at the tax returns of corporations and say, whoa, i didnt know they were allowed to do that. Thats a great idea. If you had to break it down to the most basic level and explain to people why they should care about this, what would that be . You want to have america be in the 21st century the most competitive, creative, innovative country in the world like it was in the 20th century. That really requires the ability to the places that are most prubltive, productive and not have companies wanting to move out of the united states. Its good for jobs. Its good for america if you simplify the Corporate Tax code and make it so corporations understand that they have a responsibility thats just a little larger than the shortterm thinking they are doing. They have to invest in longterm research, development, creation of value so american corporations create value better than corporations anywhere else. Walterer, it is always a pleasure. Thank you for joining us today. Thank you for having me. Now, heres a look at whats making news as we head to a new week on the money. Not a lot of growth for the u. S. Economy in the last quarter of 2015. The Gross Domestic Product which which is the broadest measure of the size and scope of the economy rose by 7 10 of a percent. Slightly below estimates. 2. 2 . A expected the janet yellenled Federal Reserve left Interest Rates unchanged this week. They are monitoring the market turmoil but gave no indication it is changing the stance on raising rates throughout the year. In the fed next meets in march. That did no favors for the market with the dow tumbling 224 points on wednesday after the statements. Stocks continued the volatility and climbed in lock step with the with the price of oil. They recovered later in the week. In the thick of earnings season, some bigname companies are doing well. Facebook had a blowout quarter, apple Beat Estimates but warned about slow down in china. Microsoft ahead of expectations but amazon far short. Its stock took a beating u. Up next on the money, going, going gone. Seat upgrades are up for auction but is it helping or hurting your wallet . The kids who wanted more school. How they demanded lessons in money and how they got it. As we head to a break, look at it took dozens of prototypes. Hundreds of crash simulations. Thousands of hours of painstaking craftsmanship. And an infinite reserve of patience. To create a vehicle that looks, drives and thinks like nothing else on the road. The allnew glc. The suv the world has been waiting for. Starting at 38,950. You show up. You stay up. You listen. You laugh. You worry. Care of your family. And when its time to plan for your familys future, were legalzoom, and for over 10 years weve helped families just like yours with wills and living trusts. Start with us. Doing the right thing has never been easier. If you plan to fly this year, listen up. Have been eyeing is now going to the highest bidder. Theres a new way airlines around the world are selling upgrades to customers. Ken harris is the ceo of plusgrade the Company Behind the auction bidding technology that 45 airlines around the world are currently using. Thank you for coming in. Thank you for having me. How does it work. You book a flight and receive an ini have tarks when you finish booking or an email will hit your inbox and invite you to make an offer to say how much you are willing to pay if we have an empty Business Class seat. You have a hard sell with me. I travel a lot and used to think the seats were going to frequent flyers who would get the seats for free because they are good customers. How come i have to pay now. I you dont. This is often when there are empty Business Class seats. But so many flights where every first or Business Class seat is fill sed filled bay frequent flyer already. It depends on the airlines some airlines have a strategy they want to marry revenue upgrade and frequent flyer benefits and others may have strategies where they do it after frequent flyer benefits. It is up to the airline. But with all of the airlines around the world, but all of them have their frequent flyers in mind. It makes sense from a business perspective but as a customer it is one mnre way they are trying to nickel and dime me from bringing my bags on if i want to board early as a consumer, a flyer you feel there is a price for everything these days. I can see that perspective. It is knight nice when it enhances your experience if there is an expense. I totally understand why you came up with this. I see theres a way this could backfire. What have you heard from partners using it . We have 45 partners. All of them are thrilled, not will they are generating with passengers. What better thing could happen than upgraded . When you have thousands of people who with are flying up front rather than in the back saying thank you airline x and y, they are marrying, generating healthy profit and happy passengers. What would it cost . I know at auction it will be different every time. Roughly, what would i pay to get an upgrade on a Cross Country flight. Between 200 and 500. One way. Yeah. Each direction. Transatlantic sometimes between 400 to 1,000 depending on the carrier. Less than buying Business Class outright but a healthy amount of money. Have you seen the commercial where the guy is eating chips and he is trying to act as obnoxious as possible and not let anyone sit next to him. Du it work. On some airlines where there is not assigned seating. Concept if you are in economy you would rather sit in Business Class or if you are in economy you would rather sit with no one next to you. There is universal demand. Coming up, we are on the money, reading, writing and more than arithmetic. The students who realized they were missing something crucial in their education. Its been ten years since everyone loves raymond left the air waves. Your path to retirement. May not always be clear. Retirement savings. For over 75 years, investors have relied to find long term value. So wherever your we can help you reach your goals. Call a t. Rowe price retirement specialist or your advisor. To see how we can help make the most of your retirement savings. T. Rowe price. Invest with confidence. We were born 100 years ago into a new american century. Born with a hunger to fly and a passion to build something better. And what an amazing time its been, decade after decade of innovation, inspiration and wonder. So, we say thank you america for a century of trust, for the privilege of flying whether it is how to pay for college or live on a budget, teenagers need to live on money. A new report finds high schools are failing when it comes to teaching important lessons. The council for Economic Education says twothirds of states have no requirements for Senior Personal fin according to the Nonprofit Council for Economic Education, 20 states require students to take an economics course before Economic Education says students that need to lead the charge pushing for more educational requirements. Up next a look at the news for the week ahead. This funny man talks food, beer and the business of television. Do you think you could get everyone loves raymond on is moldbreaking. Its intelligent drive systems. Paradigmshifting. Its technologyfilled cabin. Jawdropping. Its performance. Breathtaking. Its selfparking. And selfbraking. Showstopping. The allnew glc. Mercedesbenz resets the bar for the luxury suv. R starting at 38,950. Every insurance policy has a number. But not every Insurance Company understands the life behind it. For those whove served and the families whove supported them, we offer our best service in return. Usaa. We know what it means to serve. Get an insurance quote and see why 92 of our members plan to stay for life. Jake reese, jake reese, day to feel alive jake reese, for more on our show and guests go to our website and follow us on twitter on the money. Heres the stories coming up that may impact your money this week. We will see earnings reports from exxon, pfizer, merck. And sales figures for last month. Heres hoping spring comes early this year. On wednesday, an idea of how the Services Sector is doing when the institute fo releases the nonmanufacturing index for january. On friday the big number of the week with. The employment report will show how many jobs the economy created in january. Theres no business like show business. It is a business thats constantly changing, especially when it comes to what is on your television. Phil rosenthal is the creator of everyone loves raymond. Now he is in front of the camera with his travel and lifestyle show. I will have what phils having. It is currently available on netflix. I spoke to him about his transition behind the screen to front and center. I studied theater in school. It you always a when you are a kid you dont know there is writing, producing and directing. Id watch tv and see the actors and think i want to be funny like them. Thats what i did. The transition to writing came when friends of mine wrote a show for ourselves to be in and something more than tuna fish for dinner every night. Writing is a hair above acting a job. So i went to hollywood. I started writing. Then i was lucky enough to create that show. That took me nine years, but during that show, i found this love of travel and food and i took ray romano himself and we did an episode in italy. He was not happy to travel. He didnt want to travel. He never traveled before. I saw what happened to ray, the character happen to ray the person. He did it for the show. I remember when you did it for everyone loves raymond. Exactly right. That was the seed i saw in him. I said if i can do this for this guy maybe i could do it for other people. In ill have what phils having you go to other countries and find the best of taste and flavors that a lot of us havent tried yet. The food and hopefully the with people. I tell people im like Anthony Bourdain if he was afraid of everything. I feel like im like you on the couch, watching him, saying hes a super hero. Im not doing what he is doing. I cant do that, but i think if if they look at a guy like me and say if that guy can go outside, maybe i can too. Two thirds of americans dont have a passport. Im trying to say, come on. The world would be better if we all experience a little bit of someone elses experience. Lets talk about the changing yeah. It has changed a lot since the time you have been in it. Yes. What surprised you the most . What do you find the most disturbing . One of the crazy things to me is no matter where you pitch they all want to get younger. Right . The demos watching. The numbers on paper tell you they are not watching with any way. Right. And your loyal audience, and the people with the disposable about money, they are the ones loyal to tv. I read an article bill carter wrote about the median age of people who watch jimmy fallon. You think it is kids watching. The median age of that show is 55 years old. Oh, my gosh. Yes. Yes. Thats whos watching thfgs. Especially 11 30 home at night. The kids are out or on their phones or computers or what not. Why not having something for people our age, when i say our age i dont mean your age. Do you think you could get everyone loves raymond on television today with those types . No. You are kidding me. It is huge. Even then it was seens a mild. What is it . It is a guy who lives with his family and his parents live across the street. Nobody is jumping up and down, oh, my god, what a hot, sexy idea we have to have the show. Think of the demos. We barely got on the air then. Wed never get on the air now. With my new show, im trying to connect with people in what i think is an oldfashioned way without being old and stojy. Were going to places that are current now, eating exciting things. Look i ate an ant. Im trying to connect with everyone. You know what is really sweet, im hearing from people that are watching with their kids. Theres an idea. Thats how it used to be. The entire family in front of the television and watch. Yes, and grandma doesnt have to be upset they said terrible things. I didnt tell you how pleased i am to have you here and how excited i am about the new show, too. Thank you. Thats the show for today. Ibm im becky quick. If your resolution was to find a new job we will have tips on how to get hired. Were on the money, i will see