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People taking their power away from them. 70% to 90% taxation. >> larry: you know, i mean you start taxing wealth like this, capital gains and inheritance taxes, all you are going to do is stop, stop the momentum of new investments and new risk taking and new companies and new businesses and new technologies. is that really what we want? the taxes in this country the lower 50% pay 3% of the income taxes. the top 1%, laura, they pay almost 40%. the top 10% pay about 80%. they are already paying the freight. how much do you want to unload on them? i would like to see a tax reform in years ahead....

So, close to 40% is not enough? ed: right. she is asking for a fair share. we heard that with barack obama. nobody can define what is fair share. top 1% is already paying 37.3% of all the taxes in america. so they're paying far beyond. ainsley: if you are one of those families or one of those individuals who makes billions of dollars, then you are going to hear that. and what are you going to do you? are probably going to move, right? steve: you look at howard schultz this week he said essentially look, i'm an american success story. i started with nothing and wound up really rich. i wanted to...

Result as well. every time we've cut taxes on the rich whether harding, coolidge, kennedy, reagan, the rich have paid a lot more in taxes at lower rates. >> sandra: this is the tax rates that we're looking at here. average income tax rates. we dug into the 2016 numbers. the top 1% of earners paid the highest effective income tax rate at 27%. the bottom 50% paid the lowest at 3.7%. but still these are the words of congresswoman omar, listen. hold on a second and listen. >> there are a few things that we can do, one of them is that we could increase the taxes that people are paying who are the e...

Words, billionaires should stop being free loaders. what do we do? >> it's so sad. >> sandra: throw off the effective tax rate of the rich versus the other end of the spectrum. you have it up here. the top 1% of earners in 2016 data paid the highest effective tax rate nearly 27%. the bottom 50% paid the lowest tax rate, 3.7%. i like to throw in there the top 3% paid half of all income taxes in the country. >> you know, listen. that kind of rhetoric is so sad and so unfortunate and so belittling. there are people who are not working who haven't worked in 10 years or longer which is telling them...

You open up pandora's box of ways, people can find lawyers and accountants to hide their income. especially capital gains and dividends. if you raise the capital rate like that on capital gains or dividends, people simply hold on to their assets and don't realize the government gets less revenue. paul: yeah. taking a capital gain is, essentially, a voluntary exercise. you can hold the as asset, decided to sell it when you want. when the rate is higher, you hold them for longer. that has economic effects because it means you've got more locked-up capital, and you can't cash out and invest in ma...