Highly paid tech workers driving up rents, forcing out longtime residents. What about the status of your future employment . Most jobs pay less thanes 20ds an hour. The jobs that built the middle class are disappearing. For all the convenience, Technology May be one big reason why. A fascinating look at this topic this week. How does this technology we all use and love add up to the growing challenge of income inequality . Seen 10x personalities overachievers, making all the money inventing someone. The people who make it and sell the products making much less. Thats where the fast growth is. Technology. Is it hurting employment prospects . I would say, perhaps, the first thing no. Really, technology has always driven prosperityy. Prosperity based on innovation for hurns of years. The guys who made the buggy whips were upset for a while. And now we have a car industry. Technology always displaced a certain way of doing things before but always moved progress onward. Generated new jobs, for people with more skills that pay higher wages. A belief we lived in. The technology, even though it had disruptive effects, end of the day ended up doing more good than bad. The problem now is, as you pointed out in your introduction, all this wealth generated by technology and generation, how thats distributed throughout the population. We see that a growing share of the labor force, of our workers, are really not seeing the b benefits of this seeming booming innovation. Cant use it for a nanny, Home Health Care worker. Many restaurant jobs. Always need that facetoface person. Those are the Fastest Growing jobs that dont pay that well . A hollowing out. Part of the Job Technology taken out is the middle. What we used to call the middle class. Right . Manufacturing. Folks that build cars and machines and other things. Those were the ones who were pretty much mostly union jobs with high wages and so sornfort. Shows r those are threatened. Those at the bottom, you need a person to do them, theyre safe but dont pay well. Sometimes questioning the benefits, youre accused of, you dont get it. A mantra, i think of business, on wall street and in washington, technology is good, technology is good, but we can recognize there are these shortterm disruptions and they are real and hurt people. And might be longterm disruptions. These should be taken care of. Not technology, no. As i said it drives prosperity, but a question, how do you distribute the gains how do we take care of it . Maybe its an issue of taxation. Education. I mean, there many ways you can do this. The kind of rents we grant corporations through patent rights and lax antitrust legislation. All these ways to try to move the share of income from, you know, these very highly paid people and these corporations, and more towards workers. There are tools that can be used, but its not about stopping technology. I mean, theres been a french economist in town in these days in our show this week. Made in a big way, and he arg gur goos, his solution, high taxes on income and wealth. Distribute the wealth going to highly paid managers and owners of capital, owners of the machine, garining a bigger share of the national wealth. Well hear from him later in the show. Thank you so much. Thank you. For more stories give me 60 seconds on the clock. Its money time. A step towards combating smartphone theft. Mobile companies have pledged to include a kill switch on new phones next year. If your dwrevice is stolen, era and lock it. If found, the date tat were be retrieve. Us airways wont fire the employee who tweeted a pornographic image. Accidentally sent from a twitter handle. Us airways calls it an honest mistake. Hoops, hooters and russia. Nba player Andrei Kirilenko announced plans to open five hooter franchises in his native russia. The first known for waitresses will be in moscow. Youre paying more for food and shelter. Consumer prices rise in march as beef hit a record high and milk and veggie prices climbed. Housing is getting more expensive, too, but getting a break at the pump. Gas prices slightly lower in march. [ buzzer [. Coming up, how do hackers make themselves unhackable . I dont actually know any of my passwords inside of my head. Only one passwords. My passwords are literally anywhere between 32 and 50 characters long and completely unique. Its easier than you might think, and it could save your bank account or credit score. Thats next. [ male announcer ] when fixed income experts. Work with equity experts. Who work with regional experts. Who work with Portfolio Management experts, thats when expertise happens. Mfs. Because there is no expertise without collaboration. But i didnt always watch out for myself. With so much noise about health care, i tuned it all out. With unitedhealthcare, i get information that matters. My individual health profile, not random statistics. They even reward me for addressing my health risks. So im doing fine. But shes still gonna give me a heart attack. Innovations that work for you. Thats health in numbers. Unitedhealthcare. If your denture moves, it can irritate your gums. Try fixodent plus gum care. It helps stop denture movement and prevents gum irritation. Fixodent. And forget it. 3 million of you, 3 million, hard numbers toys week from Michael Storrs about the hack attack ay monthed three months ago. 3 Million People whose credit and debit cards information was hacked. Cyber crimes, security bugs. What do the hackers do to keep their Information Safe . Cnn Money Technology expert Laurie Segall joins me. Reporter unbelievable, you look what happened with michaels, and heartbleed, a bug that affected the whole internet. Were forced to say how do we keep ourselves safe . I spoke to ethical hackers. Security researchers that hack for good. How we protect ourselves and how they protect themselves. Take a look. Heartbleed is probably one of the largest exposures weve seen, at least i remember in 10 or 15 years, impacting almost all of the internet. Reporter David Kennedy a security researcher and selfdescribed ethical hacker called heartbleed the bug that broke the internet. Everybody was affected by this. You had facebook affected. Yahoo was affected. A number of companies were, Large Companies we put our information in every single day were affected. Reporter while companies have worked to fix it, the security flaw is untraceable. Making it difficult to tell if youve been compromised. If you use the interfete for any purpose, there will be an effect. Reporter robert hansen, also an ethical hacker, says dont use the same password for different sites. Heartbleed, probably the first thing, go to your search engine, type in heartbleed check, and if youre going to do business with a website, type in the main into that form and see whether it is or isnt vulnerable to heartbleed. Reporter how do hackers keep themselves safe . Things like what are called authentication. Allow you to enter a password and something else. Gmail has it built in automatically. Reporter youre an ethical hacker and know how people hack. When you go to facebook, check your email . I dont actually know my passwords inside of my head. I dont know my pass words. Literally between 32 and 50 characters long and completely unique to where youve never be able to guess those. Reporter kennedy keeps his passwords stored in a password vault. Programs like keypass and onepass for mac are built for this. Pass wewords are an old way thinking. We need to move to other ways. Biometric. Swipe your finger, verifies who you are, all of a sudden, logged in, dont have to remember passwords and its tied to this. Reporter the galaxy x 5 now have them, as well as others, but both beaten by hackers. More advanced biometrics could help. Voice, or even matter beat. For now, vulnerable. The ones that know it best take extreme precautions. We look at these guys, i want to make the point interviewing ethical hackers essentially, what they do, they can get into a lot of trouble if they find security flaws on the web and go to big company, theres something wrong with your system, unless theres someone who hired them to do that. The bugs are happening more and more. Companies need to do more themselves to make sure somebody from the outside isnt letting them know something happened. Laurie segall, thank you. And find my conversation online, the seiber sleuth who discovered the massive tart hack and michaels breach last year. Weathers heating up. So is the economy. Why weve turned a corner and what could stand in our way, thats next. Its been a chilly winter for the economy, but were starting to see a spring thaw. The job market is picking up. Especially for new College Grads pap new survey find employers will hire 8. 6 new grads this year than last year. Janet yellen says weve turned a corner in housing after two failed attempts to stage a correction, a good week finally for stocks. The s p 500 up 2. 7 this week and good news about obamacare the Congressional Budget Office says the Affordable Care act will cost less in the next decade than previously thought. The economy may well be at a turning point. Im not saying its healed. The job market hasnt picked up enough for the long turn unemployed. If you have a job and a college degree, things are getting better. Chief economist with the Heritage Foundation and a coauth coauthor. Nice to see you, stephen moore. Great to see you, christine. Youve been telling me for months, no, years, that obama c. A. R. E. Will wre care will wreck the economy. Not yet . Im enthusiastic about that statistic about College Grads finding jobs. Me, too. Because i have a son whos graduating from college. Im really happy about t. The best news ive heard in a long time. Look, i think kp obamacare is hurting business. Talk to businesses, holding employment down to below 50 workers to get around some of the obamacare mandates and seeing you talked about some of the positive trends in the economy and there are some, but lets talk about some of those more neg liative trends, declin workweek and turning into a parttime nation. Thats partly due to bv obamacare. New costs fall poun if more than 30 hours. 8 million enrollees, a victory for the white house this week. The president saying point blank saying, this is it. Up guys out there saying this is a bad idea, stop talking about it, because weve got the enrollees. Some are young, more young people than they thought. Those young people are not going to have a medical catastrophe thats going to throw them into bankruptcy and hold them back in their lives. Maybe spent money, stephen, and maybe that will be good for the economy . Im not a true believer in a lot of the statistics. I know youre not. Let me explain why. First, we know about 5 Million People lost their health insurance. So 8 million may have gained, but 5 million lost. We also know that a lot of these people who have signed up for obamacare sdu obamasubsidies in exchanges, havent paid premiums, if not, youre not insured and a lot of those people already had insurance just shifting insurance. We dont know for sure yet whether these number ares as good as the Obama Administration is saying. Ask you about this. Youre a hero, champion of the free market, but thomas picketees book, a beach read. The bible for those arguing capitalism is fueling a growing gap between tap earners and everyone else. A french economist. We need a more aggressive tax system. Listen. The way people have been taxed in this country directly is through the property tax. The problem with the property tax, first, its not progressive. We should transform this ideally into a progressive tax to reduce the property tax, but 90 of the population. Tax the rich. For some reason i think you wont agree with him. God forbid we should follow economic advice from the french. They havent been doing all that well in france. I knew you were going to say that. Its predictable. Look it is true that europeans have experimented with these it kind of big, social welfare states and high tax rates and it hasnt worked very well. What we ought to do, make america as kpesive bringing tax rates down, not up, to bring more capital and jobs to this country. Youre right. I do believe that the job market is improving. Weve seen that over the last two, three months. No question about it. Yeah. But way behind where we should be. We still have 18 Million People where theyre unemployed, cant find a fulltime job or dropped out of the labor force. Not the salad days for workers trying to find days. And we have Education Skills mismatch. Talked a lot about this. The president announce add plan to put hundreds of millions towards job training programs. Listen to what the president said. Not all of todays good jobs require a Fouryear College degree. But i promise you, theres not a job out there thats going to pay a lot if you dont have some sort of specialized training. So our best bet is keeping ahead in the skills race. I think you and the president might have some Common Ground on the skills race. Something we have got to have kids come out of high school with better skills and education, coming out of college or vocation with better skills and education and companies willing to invest in the training they need to get the workers they need . No question. Very unusual i agree with the president. Hes exactly right. If we want to be a highwage society where the american middle class gets better off over time, then we have to have very skilled workers. Theres no question about it. Heres where i cringe, though. When the president says, we need more job training programs. Do you know, christine, we already have 25 federal job training programs. My goodness, every other month we seem to create a new program. We always talk about college education. The true if you have a College Educated degree youll get a higher paying job pap degree in associationology, psychology, gender studies so on, theres not a high demand for that. We need our College Graduates with the kind of skills that employers need. Full circle. That statistic. 8. 6 growth expected this year for jobs for College Graduates. Those are jobs in accounting, mbas, jobs in economics. Software and engineering. Where the real growth is. Stephen moore good luck to you and your son. See you soon. Thanks. Coming up, the good guy in a new book about wall streets bad boys. To think weve actually damaged the credibility of wall street any worse than its done to itself over the last ten years is kind of funny. Then youll know how uncomfortable it can be. [ crickets chirping ] but did you know that the lack of saliva can also lead to tooth decay and bad breath . [ exhales deeply ] [ male announcer ] well there is biotene. Specially formulated with moisturizers and lubricants, biotene can provide soothing relief and it helps keep your mouth healthy, too. [ applause ] biotene for people who suffer from dry mouth. Biotene why relocating manufacturingpany to upstate new york . I tell people its for the climate. The conditions in new york state are great for business. New york is ranked 2 in the nation for new private sector job creation. And now its even better because theyve introduced startup new york dozens of taxfree zones where businesses pay no taxes for ten years. Youll get a warm welcome in the new new york. See if your business qualifies at startupny. Com one of our favorite things to do is going to the dog park together. Sometimes my copd makes it hard to breathe. So my doctor prescribed symbicort. It helps significantly improve my lung function starting within five minutes. Symbicort doesnt replace a rescue inhaler for sudden symptoms. With symbicort, today im breathing better. Come on, boy [ female announcer ] symbicort is for copd, including chronic bronchitis and emphysema. It should not be taken more than twice a day. Symbicort contains formoterol. Medicines like formoterol increase the risk of death from asthma problems. Symbicort may increase your risk of lung infections, osteoporosis, and some eye problems. Tell your doctor if you have a heart condition or high Blood Pressure before taking it. [ man ] now symbicort significantly improves my lung function, starting within 5 minutes. And that makes a difference in my breathing. Today, im hanging out with my best friend. Talk to your doctor about symbicort. I got my first prescription free. Call or go online to learn more. [ male announcer ] if you cant afford your medication, astrazeneca may be able to help. High frequency trading getting a High Frequency of spps lately. Just subpoenaed six firms, come under scrutiny following release of the Michael Lewis book flash boys. Using super Fast Computers to gain an advantage over everyone else. Michael lewis is the author of a number of bestsellers including liars poker, the moneyball. Brad pitt starred in the movie version and if this makes it to the dig screen, an alister will probably play this guy. I asked how the stock market has changed. People have always looked to gain the markets. Right now the best way to do that is using technology. When there were humans completely in charge, you were getting, people were getting ripped off. Right . So is it better or worse now . Id say its different. Its different, because its not happening human to human. Its happening with a computer. And i think it actually makes it slightly more dangerous when its not happening human to human, because people feel i think more cavalier how a computer treats someone versus a human. In todays day its happening in technology. Keeping all the good Things Technology has brought but looking to use technology to eliminate some of that scalping we see happening. We know that fewer than half of americans actually invest in the stock market. Theyre really getting screwed because they werent even in the stock market last year. I mean, do you worry about that all of this publicity around the book is actually pushing people away from the stock market, which could