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Ralph Nader, former U.S. Presidential candidate and consumer advocate, on the 2012 elections and what he would like to see done to get the economy gro...
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They've done let's move the ball forward on this to bestselling author former president of Ralph Nader who seem to both sides though they are in fact he's been seeing what and I have because he's seen through this -- around both sides a lot longer than I have one of my favorite guest of all times are deeply admire him Ralph Nader Ralph good have you.
Thank you know what it what what's going on here is why is there no sense of urgency to.
These issues whether you want that the tax rates and address review what the debt being addressed.
I mean pick and choose your crisis there's certainly a number depicted Jews from -- -- -- Months.
Well Washington is as a big bubble it's swarming with corporate lobbyists and campaign fat cash in both parties.
In both parties I don't want to have a one up on each other for November southern -- death grip.
Gridlock so nothing has happened.
Now your prior guest printed a pretty a gloomy picture but I have two proposals to make.
They have nothing to do with taxes are public spending.
One is to catch up the federal minimum wage through what it would have banned in 1968 adjusted for inflation.
Supported by 70% of the people in the polls that would be a ten dollar minimum wage which would.
Put tens of billions of dollars into consumer demand.
The pump prime the economy because nobody got it all going you don't -- an office is to do that there -- -- mean right I mean no one can -- there are no one can say.
No one can say those thirty million workers between seven dollars and a quarter and ten dollars.
Don't -- that.
The second is something we talked about earlier review -- And that is non financial companies are sitting on over trillion dollars of their shareholders cash -- investors' -- -- a lot of them are not giving adequate dividends.
Some of them like Google and AMC giving no dividends.
Now as they can be pressured by investors and mutual funds and pension funds who are shareholders.
-- unloaded about a couple of hundred billion dollars back into the economy.
People would spend that then you'll get more economic.
What do president rob veterinary not edited and running for president again but I mean how good how would you change that view and other words.
A lot of these guys I -- these seals all the time or sitting on this case here or abroad.
They don't like to tax penalty for would you give them a tax holiday with the proviso be.
You've got to put it to use you gotta do something what.
They tried that in 2004.
And they brought back hundreds of billions and they broke their promise and didn't put it to productive use.
They put it to mergers bonuses.
But what we've got to do is recognized.
That pres Obama is not an economic dictator.
The Federal Reserve can't bring interest rates much lower in terms of fiscal policy public works repairing America Obama's black.
In the congress so we got to go to these two other areas -- -- support for an inflation adjusted -- wage including Rick Santorum.
And their pre 2012.
Our -- I don't wanna get senator but on that alone.
In an environment like this how are you going to compel -- -- -- sized businesses that fast food joints in the rest.
That it's in their interest to raise -- minimum wage when they're barely getting by as it is.
Just way Henry Ford did when you raise the daily wage for auto workers back move forward one to five dollars he -- people who buy the cars.
That's what you've got to do and -- and just catching up would 96 -- So what you are saying wow I all sections of the country where there and Wendy's jobs ago they get ten dollars an hour and others where kids are young adults or anyone aren't really -- they get these jobs.
Where we have a country where -- you know help wanted advertising is an all time high.
Jobs go begging some of them quite well paying.
But apparently a lot of people for whatever reason in this -- -- sentiments and now.
Well we're talking about thirty million employed people between seven -- quarter and our intent.
They would get a long overdue pay raise that they've -- just adjusting to inflation.
If you got Rick Santorum and Mitt Romney for ten years saying the minimum wage should be adjusted to inflation.
Now blood pressure high -- a good thing that we can debate the SE this yeah well it.
It do you think that people.
-- tired of the -- in the government.
To do something I mean there's been a lot of people frowning on the president's -- has relied on big stimulus big spending.
I don't some Democrats -- disagree about we've seen little bang for the buck -- so a lot of people now going the other way but they're careful to go too far the other way because they remember.
Republicans in the mess they created.
But is -- -- limit so what government can do would you leave -- say.
That outside it really cracking down on safety is you were the first to do -- auto makers and demand.
Some cars be safe to be made safely.
And made safer that that that.
The government can't make an economy rock and roll is it to -- You know Jose out of the way that it doesn't have much power we gonna demand more from big business -- -- with the government originally and that would I would -- -- I don't -- the demand that thought.
Fox Business can hardly keep up with the corporate crime.
Bart police JPMorgan Chase.
Now a Glasgow three billion dollar fine.
We have got -- saving these corporations.
You're built on the back of American workers your bailed out by American taxpayers.
You're reporting record profits you're sitting on trillions of dollars keeping them away from their owners the investors.
And -- workers like McDonald's.
Away at around like you're saying that they -- doesn't give you more about it is no crime involved there.
But are you saying -- are you saying that all of these guys are typical another words that there are more bad guys and that the good guys does that sound silly to me.
The big -- the big guys have too much farther too big to fail too big around you all the call them crooks and say let's just take a fortune 500.
To -- -- -- out the fortune 1000.
Would you say you mentioned three prominent names would you say that it's 3%.
5105050%.
Better that bad because I just disagree -- Well just look at the reports in getting steamed to overcome corporate -- in my book that you've mentioned.
Those are reports from the Wall Street Journal New York Times business page AP Washington imposed sixty minutes.
We live in -- corporate crime -- there are not enough federal cops under corporate crime beat the budgets are cut to the bone.
And are you gotta do is look at the major news outlets who show what people want a copy this book gaining -- Go to getting -- dot org all the even autograph refer you or your relative -- friend it's got all these case studies not for me.
From the business press the mainstream press we don't -- guys -- I've read this I've read our love you dearly here's why did you the one thing we do disservice.
You put cats -- light on all of business when you make charges like this that they're all the terrorist groups that -- all backstabbing money grubbing little weasels that's where I think you make.
A generalities you apply that to races you'd be called an idea and so you soon.
-- listen -- and deal yet person bother into so many things these big companies all over the world they do succumb to temptation let's face it.
That doesn't mean everything they do every day is crooked -- the second is we have good companies interface corporation in Atlanta.
Patagonia in California.
-- the companies have formed the social venture network there almost never get on Fox Business knows I'd be happy to introduce them to you.
I get a lot of new -- -- and bad guys to and then I'm just telling you you're making sweeping generals it's not there I wouldn't do that to you.
No generals are all documented on getting NCA daughter -- how -- are you -- a lot of it up.
-- what -- -- -- -- guy and I I know you've got your picture needs full page ads this week in the New York Times you're smiling.
But don't bend over backwards not an -- on -- -- -- you know really incorporated -- a lot of those -- card and auto smiling route from the -- and a lot of them.
On but seriously Ralph you'd unity cable that did you make unit media we make me not hungry so artsy -- -- double role here and I appreciate that.
Ralph Nader let's get you back soon again right in front.
Thank you -- -- right.
