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Huge amount of money in taxes. do you think if governor romney had scofflaws on his tax rules what do you think the media would be talking about. >> you think the news media is prejudice against the owe bam administration and i think they are lazy on both fronts, actually. jon: we'll leave it there. thank you both. you can catch more of our terrific panel. jenna: a u.s. navy ship firing on a both near the strait of hormuz, the boat ignoring repeated warnings by those on board. joining us formal admiral, joe sestak. he'll tell us what it means for the military in the region and the west of us, ...

Voters. they vote on the economy, as well. he needs to be able to sell this to them as something that, you know, look, if i'm -- if mitt romney is president, this kind of policy, you know, may not go into effect. he may repeal this, and i'm different in this way. >> mike, how come mitt romney hasn't come out and given a clear position on this? >> well, i think, look, the key on this point, there may be some short-term advantage for president obama on this one, but it also feeds into a narrative that's an executive who has no respect for the proper constitutional separations of power. you have ...

Jobs, would it not? >> absolutely, ed. here is the magic words you need to hear from somebody that really wants to reform the system. no more separate company accounting. that's the phrase to remember. to the tax man these companies are thousands of companies, not one company. they have different tax rules. if they are treated as a single company, no multiple company accounting, only single company accounting then all of that game playing can stop. >> this could rob the united states -- i say rob. i think rob is the correct word here. you make a dollar on our soil with american workers, you go...

Pretty much cut in half, let's say from what it should be around 35% to the middle teens or even the single digits. >> reporter: sullivan's tax group determined apple was able to move some profits from its home in california to a small office in reno where the corporate tax rate is 0. but 70% of the company's profits are moved overseas. first to a couple companies in ireland, traveling to the netherlands before caribbean banks. the company's tax rate 9.8%. without all the advantages apple would have paid $2.4 billion more in taxes in addition to the $3.3 billion it did pay. we should note the ...

Opportunity. that's where we are. >> if you were senator, you would have a couple of things this week, the buffett rule, how would you have voted? >> if you look at that, the middle class has to look at these tax rules and say how does this make any sense? why does a firefighter in terre haute pay a higher income tax rate than a hedge fund millionaire? >> you would have voted for the buffett rule? >> i would have because it's the fa fiscally responsible thing to do. as we're working towards a final solution on this thing, which i think is going to happen later this year is going to be better f...