2014: A Waste Odyssey

  • Aired:  03/13/14
  •  | Views: 231,210

Fox News holds impoverished Americans to higher standards than corporations, and JPMorgan Chase makes a quick buck in the food stamp business. (5:33)

LET'S TAKE YOU AT YOUR WORD.

PERHAPS YOU ARE MERELY AWATCHDOG FOR THE AMERICAN PEOPLE

AND LIKE WATCH DOGS YOU DOOCCASIONALLY BARK AT BURGLARS

BUT MOSTLY JUST THE DISHWASHERAND SHADOWS.

FOR INSTANCE,, WHAT IS THEWASTE, FRAUD, AND ABUSE IN THE

FOOD STAMP PROGRAM?

>> MORE THAN $3 BILLION HAS BEENLOST TO TRAFFICKING.

FRAUD AND OVERPAYMENTS EACHYEAR.

>> Jon: THAT AIN'T NOTHING.THAT IS A LOT AND I IMAGINE

WOULD YOU AGREE WITH ME THAT $3BILLION IS A LOT OF MONEY.

>> YOU AND I KNOW NUMBERS.

I KNOW YOU KNOW NUMBERS.

I ASSUME YOU KNOW I KNOWNUMBERS.

>> Jon: OKAY, FINE.

[ LAUGHTER ]SO KNOWING NUMBERS AND HATING

WASTE AND FRAUD AS YOU DO.

WHEN DEMOCRATS WERE LOOKING TORAISE $1 TRILLION IN REVENUE IN

PART BY ENDING THE WASTEFUL $4BILLION IN TAXPAYER SUBSIDIES

THAT GO TO ALREADY PROFITABLEOIL COMPANIES YOU SAID WHAT?

>> THE TAX BREAKS OR LOOPHOLESOR TAX CREDITS YOU GIVE TO OIL

COMPANIES AMOUNT TO $4 BILLION AYEAR.

THEIR A PITTANCE COMPARED TOWHAT THEY ARE LOOKING FOR.

[ LAUGHTER ]>> Jon: OH, $4 BILLION IS A

PITTANCE, A PITTANCE FOR THEREFRIGERATOR SET.

[ LAUGHTER ]SO WHAT I HAVE LEARNED TODAY

FROM MY TEACHER IS THAT $3BILLION OF TAXPAYER MONEY IS

GREATER THAN $4 BILLION INTAXPAYER MONEY.

I THINK WE'RE DONE HERE.

I THINK WE'RE DONE.

[CHEERS AND APPLAUSE]YOU ARE THE WORST MATH TEACHER I

EVER HAD SO WE DON'T EVEN HAVETO DO THE BIT ANYMORE.

BUT (bleep) IT WE'RE GONNA KEEPDOING THE BIT. LET'S KEEP GOING.

IS $3 BILLION GREATER THAN THIS?

>> THE UNITED STATESLOSES AN ESTIMATED

$150 BILLION ANNUALLY TO TAXAVOIDANCE SCHEMES INVOLVING TAX

HAVENS.

>> A LOT OF COMPANIES ARE ONLYPAYING HALF THE CURRENT TAX RATE

FOR CORPORATIONS AND SOME AREN'TPAYING ANY INCOME TAXES AT ALL.

>> SOME COMPANIES HAD SO MANYTAX BREAKS THEIR TAX BURDEN WENT

NEGATIVE MEANING THEY GOT MONEYBACK.

>> Jon: WHICH THEY USED TOHIRE LOBBYISTS TO CREATE MORE

TAX LOOPHOLES AND IT'S THECIRCLE OF LIFE.

[CHEERS AND APPLAUSE]IF SURFER GUY IS A PARASITE

AND A RAT AND I CAN'T IMAGINEWHAT YOU ARE GOING TO SAY ABOUT

CORPORATIONS THAT TAKE FULLADVANTAGE OF OUR TAX LAWS AND

AND GOVERNMENT PROGRAMS. I GOTMY MONEY ON LEECH VULTURES.

>> WHETHER THEY NEED IT OR NOTIT WAS AVAILABLE SO THEY WENTAND GOT IT.

WHY DO WE VILIFY? WHY DO WE LOOKFOR THESE COMPANIES?

THEY TOOK CHEAP MONEY.

>> I PAY ALL THE TAXESTHAT ARE LEGALLY REQUIRED NOT A

DOLLAR MORE.

I DON'T THINK YOU WANT SOMEONEAS A CANDIDATE FOR PRESIDENT WHO

PAYS MORE TAXES THAN HE OWES.

>> WE'RE NOT GOING TO DEMONIZESUCCESS.

EVERY ONE OF US WALKS INTO H ANDR BLOCK IN APRIL AND TAKES EVERY

DEDUCTION AVAILABLE US TO.

IF THEY ARE DOING IT LEGALLYWHAT IS WRONG WITH IT?

THAT IS WRONG WITH THEGOVERNMENT THAT SET UP THE TAX

CODE THAT IS SO CONVOLUTED ANDTHEY WROTE IN THOSE LOOPHOLES.

>> IT'S COMPLETELY LEGAL, ANDGOOD FOR THEM.

>> Jon: JUST TO BE CLEAR SO ON(bleep) MOUNTAIN THIS

(bleep)'S NARCISSISMREPRESENTS ALL

THE AMERICANS WHOARE IMPOVERISHED AND NEED FOOD

ASSISTANCE BUT THESE (bleep)'SNARCISSISM

REPRESENTS ALL THAT IS GOOD ANDDECENT ABOUT AMERICA. WHY THE

DISTINCTION?

>> AS THE RICH GET RICHER, ITFLOATS ALL BOATS.

>> LET OUR JOB CREATORS KEEPMORE OF WHAT WE EARN AND

PRODUCE SO WE CAN HIRE MOREPEOPLE AND THAT WILL GET THE

ECONOMY ROLLING ALONG.

>> WE SHOULDN'T BE PUNISHING THEJOB CREATORS.

>> EMPLOY MILLIONS OFAMERICANS. WHY GO AFTER THE

PEOPLE WHO ARE JOB CREATORS.

>> Jon: JUST BECAUSE THEYOCCASIONALLY ALSO DESTROY THE

ECONOMY.

[ LAUGHTER ]BUT AT LEAST HALF THE TIME THEY

ARE CREATING JOBS.

IF ONLY THERE WAS ONE STORY THATCOULD EXEMPLIFY THE CORPORATE

GOVERNMENT ASSISTANCE JOBCREATION NEXUS.

>> JP MORGAN CHASE PROVIDES FOODSTAMP DEBIT CARDS IN 26 STATES

AND THE DISTRICT OF COLUMBIA.

THE FIRM IS PAID PER CUSTOMERAND IN THE STATE OF INDIANA JP

MORGAN MAKES ROUGHLY $186,000PER MONTH.

>> Jon: WHOA IN FACT IT'SKIND OF GENIUS.

SINCE 2004 18 OF THE 24 STATESJP MORGAN HANDLES HAVE BEEN

CONTRACTED TO PAY THECOMPANY OVER $560 MILLION.

IT'S A BRILLIANT BUSINESS MODEL.

YOU MAKE A TON OF MONEY SELLINGSUBPRIME MORTGAGES AND

DERIVATIVES AND THEN WHEN THATBUSINESS CRASHES THE ECONOMY AND

MILLIONS OF HOMEOWNERS FINDTHEMSELVES UNDERWATER AND

FORECLOSED UPON AND HAVE TO GOON FOOD STAMPS YOU GET A LITTLE

TASTE OF THAT TOO. BUT DON'TTHINK OF IT AS JP MORGAN

SHORTING HOMEOWNERS THINK OFTHEM AS

GOING LONG ON HUNGER.

[LAUGHTER]BUT I ASSUME THEY THEN PUTSOME OF THAT MONEY

THAT THEY GOT INTO CREATING JOBSFOR THE FEW NONLAZY AMERICANS

LEFT.

>> TO SAVE MONEY, JP MORGAN HASBEEN ROUTING BENEFIT CARD

CUSTOMER SERVICE CALL TO INDIAWHERE EMPLOYEES REPORTEDLY EARN

NO MORE THAN $3.50 AN HOUR.

>> Jon: WELL THAT MAKESSENSE. YOU DON'T WANT TO HIRE

AMERICANS THAT WOULD CUT INTOYOUR LUCRATIVE FOOD STAMP

BUSINESS. YOU HAVE TOMAINTAIN YOUR BASE.

SO WHAT I'M GETTING FROM FOX ISTHIS, EXPLOITING GOVERNMENT

LARGESSE WHILE REPREHENSIVEAND MORALLY CORRUPTING FOR

AN INDIVIDUAL IS OKAYFOR CORPORATIONS.

MAYBE THIS WILL HELP. DON'TTHINK ABOUT FOODSTAMPS AND

HEADSTART AND PROGRAMSLIKE THAT AS FEEDING AND

HELPING A SMALL CHILD. THINKABOUT IT AS INVESTING

IN A PROMISING START-UP WITH ALIQUIDITY PROBLEM.

WE'LL BE RIGHT BACK.

[CHEERS AND APPLAUSE]

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