street? well, my fox business colleague charles payne says he knows and he says wall street is great. so what would you have said to the protesters? i spoke to the protesters. it is amazing to me how how many of their parents probably go to work? a factory that was built on money raised and wall street. how many of their grand parents are alive right now because they got a medical device that was created after the company went to wall street and raised money. they don t connect the dots. people don t get that all this money shuffling which is really mostly gambling ends up in money being directed to with luck its best use and the most successful people get rich because those companies grow and those are the successful medical devices? it could be a medical device. ipad, thee the eye pad, the iphone. the fact of the matter is apple is sitting on $80 billion and created 00,000 jobs last year in china.
will be some systemic change in capitalism and innovation is going to be the change. i hope it is good innovation. thank you joe and erica. coming up, the protesters call wall street a drain on america. and lots of people think they re right. and from what we can see, it seems bankers and stock pickers get rich by shuffling money around and exploiting people. that is why protesters carry signs like those and yell things like this. when was the last time those rich people did a hard day s work? how do they make money. they steal it from the working people? it is all the bank s c.e.o.s. all of them. they should all be in jail. they steal money and should be this jail. be this jail. my next guest wants to explain
to me, fair would be a nice flat tax. that is just one guy s opinion. everybody pays social security tax and medicare and all that stuff. how about we all pay an equal share of income tax as well? all right. so you start the blog and it catches on. it does. and it started innocently. we have been called an organization and a group and all these things. the truth t was three guys really bored at 3:00 in the morning. i own my own business, edit video and film and i was up working and eric posted his picture and another friend posted one and i posted one and we decided to put u blog. tons of pictures on twitter so we started posting them. no big money behind it. a lot in response to the propests. it is. it is not really even about the taxes. what it is about, john is, people having the opportunity to say look, life is tough sometimes. and you do have to work those three jobs to ba pay that back. the protesters say but i
trays and so on. we do have great income disparity in america. some people have a thousand times more money than others. but so what? that is a byproduct of freedom. and because of that freedom and free enterprise today even poor people have clean water, tv sets, cars and toilets. poor people in america live as well as kings and queens used to live. yet the protesters hate the capitalism that makes that possible. they call rich people robber barons. years ago, the term was used by america newspapers to smear tycoons like cornelius vanderbilt and john d. rockefeller but the media then were clueless too. they were neither robbers nor barons. they weren t barons because they weren t royalty and they weren t born rich. they were born poor. they weren t robbers because they didn t steal. they earned money by pleasing people. vanderbiladvantage built invens
we supergot 9-10% unemployment. bigger banks. bigger banks than ever. we still have too big to fail on books. i think there is no reason to trust this. david, you wrote this article, why occupy wall street. one of your points is wall street employs k street to dominate main street. but that includes your cofounder president obama. well, unfortunately, obama has raised a lot of money from wall street. this is an example of how that money can kind of take over our political system. i think we a graph of how much he raised here. he raised more than any other candidate. and he staffed his white house with people who were too close to wall street. and, you know, since 2009, since obama took office, wall street and financial interests have spent nearly a billion dollars to fight the reforms after the crisis. and that makes it very hard to kind of do anything about their outsized power.