• With: Mike Huckabee, former Arkansas governor

    This is a rush transcript from "Your World," May 18, 2012. This copy may not be in its final form and may be updated.

    NEIL CAVUTO, HOST OF "YOUR WORLD": Two cities, two very different tales.

    You see this day in Menlo Park, California -- that’s on your left -- thousands celebrating their newly minted millionaire status. Despite today’s relatively lackluster debut, they still made a lot of money.

    And then you have Chicago on right, thousands demanding a Robin Hood tax IPO stock trades, seeking to punish all stocks on Wall Street. Which group is doing more for America today?

    Governor Mike Huckabee joins me right now.

    Governor, good to see you.

    MIKE HUCKABEE (R), FORMER ARKANSAS GOVERNOR: Great to see you, Neil.

    CAVUTO: Interesting juxtaposition.

    HUCKABEE: Well, it is, and especially to see all of these young people out there who are becoming millionaires today, and you wonder how long is it going to be before they become conservatives and Republicans once they start getting hit, not only with the high taxes, but with the demonization of the fact that they have become overnight wealthy?

    Now, when I say overnight, some of them have worked for years to get to this point.

    CAVUTO: Absolutely.

    HUCKABEE: And they have taken some risk and they have had the right talents. I don’t begrudge them. I just wish it were me.

    CAVUTO: I was looking at some of these aerial shots we were taking this morning, because it was an unusual Nasdaq opening. They were all out in California for this.

    HUCKABEE: Yes.

    CAVUTO: And then as the thing dissipated after the opening on Wall Street, which was really out there, you had these shots of small groups of them talking. And I could swear, if I could put bubbles in the conversation, well, I want my house on the ocean. No, what about you? No, I want to be just across the secret from the ocean.

    HUCKABEE: Yes.

    CAVUTO: But I think they are already planning how to enjoy their riches. And God bless them.

    CAVUTO: But they don’t know there is a government, to say nothing of California, but the federal government, that wants a big chunk of that.

    HUCKABEE: Well, and the people in Chicago were essentially part of that group that thinks that the government ought to go in there and take it away because after all surely if you have made money, you could not have done it honestly.

    (CROSSTALK)

    CAVUTO: Especially this way. This is what most in that crowd, the Chicago crowd, abhor, you’re making your money on Wall Street.

    HUCKABEE: Yes.

    And I think really it would be interesting to have some of those very young and still in their 20s -- Zuckerberg is 28 years old -- $19 billion, that is incredible. But you know what? That is capitalism.

    And if people are willing to pay that kind of money to buy his stock, then that is the way it works.

    CAVUTO: But you talk to this crowd. I don’t know Zuckerberg’s view on this subject, so I apologize.

    But a lot of the folks I talk to at in Silicon Valley, gazillionaires...

    HUCKABEE: Yes.

    CAVUTO: ... because I’m the kind of go-to guy for them...

    HUCKABEE: Right.

    CAVUTO: .. they say that they like the president and they think they should pay more taxes.

    But I think there is a difference between billionaires and multi- hundred-millionaires and just the $250,000-and-over crowd.

    HUCKABEE: Well, there sure is. Look, let’s face it. Mark Zuckerberg could pay several billion and it cannot affect his lifestyle.

    CAVUTO: Right.

    HUCKABEE: There is nothing you could take away from him...

    (CROSSTALK)

    CAVUTO: And he’s a decent guy. He cashed a billion dollars out to pay everyone’s taxes.

    HUCKABEE: Yes. And that’s great. That’s a wonderful thing.

    CAVUTO: Very nice.

    HUCKABEE: There is a point which if you are Warren Buffett, if you’re Bill Gates, no, you do not care if your taxes get raised.