population has grown 33% but the prison inmaim population in that same time has grown by almost 800% n his speech to the american bar association in san francisco this afternoon the attorney general will announce new policies at department of justice designed to prevent, low level, non-violent drug offenders from facing stiff mandatory sentences. holder will announce a plan to release elderly non-violent prisoners who have served, quote, significant portions of their sentences. attorney general will say the u.s. must never stop being tough on crime but be quote, smarter on crime. spending on federal, state and local incarceration reached 08 billion in 2010 alone. the ag sketched out his thoughts on reform in a senate appropriation subcommittee two months ago. we want to work on prevention activities and work on rehabilitation while people are still in prison and deal with reentry. we need to ask some tough questions about the enforcement priorities we have in the
billion of your taxpayer dollars were paid out in 2011. who is ripping us off and how are they getting away with it? keith rogers with foxbusiness.com and has been looking into it for us. thanks for having me. jon: how are they getting away with it. you said $3 billion of a $100 billion program. $108 billion program. what is really stunning about the numbers, 2.2 billion is going to people who are actually still working. so they re defrauding the government and pretty much their full-time job. jon: collecting a paycheck at the same time? they absolutely are. they re doing it a lot of time working in jobs that pay under the table like service positions, construction. they re collecting that cash and also filing for these unemployment benefits. jon: how do they get away with it? they re getting away with it because the government program has been so expansive before the recession when it was $40 billion a year. now it is over $100 billion a year. with more people in the system it
part-b, the drug bill, the federal government gives you $108 billion a month subsidy. that is ridiculous. i should pay the $108 a month f you do that under the population as a whole, that save as lot money that is way to get wealthy people to contribute. i would plat flatten the tax code, eliminate deductions and buy down the tax rate and pay off debt if he does retirement reform. this is a question to our people on the left, if you don t embrace reform on social security and medicare, they will die on the vine and everybody is going to lose. martha: let s look at the immigration plan. what we re hearing that the eight people who are getting together to try to make this immigration reform happen want to come up with something that is so ironclad that all eight of you would agree that no changes could be made to it. right. martha: now that s sounds like you will not let the rest of the folks on capitol hill have any part in this? that would be news to me. i don t know how you could
as that money isn t brought back to the u.s. so at ge, $108 billion. also pfizer $73 billion kept overseas. microsoft, let s give a shout-out, $61 billion are kept overseas. a lot of health and tech companies do this. essentially they assign their patents and intellectual property rights, their foreign subsidiaries. they don t bring the money back to the u.s. they don t have to pay taxes on that money. and joint committees of taxation show if we tax their foreign earnings fully, we would generate billions of dollars. and if you think what we re dealing with $85 billion. but i think the solution is you can t tax these corporations to oblivion. if you tax them too much they won t invest that much on infrastructure, labor, that kind of thing. it s a whole lot of cash, though. i am totally what s the one thing we need to know about our money? americans are also stashing some cash, too. a new study says americans had nearly $200 billion stocked away in 529 college savings pl
heading to the sistine chapel later this morning. that is where they will officially begin the process of electing a new pope. so fascinating to watch. it really is. i love all the tradition and pomp and circumstance. and the music. so we re minding your business this morning, as well. the dow record high count is now at five days. the futures are lower this morning. history shows that in the two months after a record high, stocks tend to drop a little, or they stay flat. turning on eye now to corporate america, new report shows that some of the biggest companies are stashing their cash overseas. it helps them avoid paying taxes here in the u.s. imagine that. cnn s zain ascher is in today for christine romans. hey, guys. massive shout-out to ge because they have the most corporate profits kept overseas. essentially what they re doing is dodging paying, as you said, high corporate tax rates here in the u.s. and this is completely legal. ge has $108 billion kept overseas. com