tv Cavuto FOX Business October 18, 2012 11:00pm-12:00am EDT
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good luck getting by republicans. apparently, neither is any deal. the doomsday scenario the baers picture now looking a lot more likely. craig smith says the president is playing with fire and we're the ones who stand to get burned. explain, craig. >> i think it's freightenning what happens her ne. these banks are correct in consensus with the imf, the cbo, and 14 of the 17 major economists in the world say it's not only a recession, but a severe recession, and as you and i talked about before, neil, i'm concerned about another downgrade on our debt. we need to continue to borrow money no matter how you slice this fiscal cliff, neil, it's horrendous for the future of the nation and for mr. obama, during a campaig stop to see he'd veto legislation ke this, it's just
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showing he has no concept how economics work, neil. neil: there's a lot of media attention today. it was not a fox alert t me in this sense cra that it's not new. he always sa this would be his fiscal holy grail and would not extend the tax rates, lower tax rates for the rich for another year when he did so back in 2010, it was with an understanding it wouldn't be r so long, and the time has come for them to go up. is he just getting in a tough early negotiating pint or do you fear something worse? >> i hope it's not for that reason, neil, for negotiation purposes because keep in mind when he went at it with john boehner and cantor back in summer of 2011 for raising the debt ceiling, if you believe what bob woodward wrote in the book, it was ugly. the visceral distaste, if you like, the dislike this president has for achievers, for
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businesses, for people that are good high income earners, i jus@ don't get it, neil. these -- like the barchgs, for example, that you led with, 16 of thebanks say, mr. president, this i critical. you can't play politics with this. neil: aren't they also -- where the president sets a trap for them and anyone criticizing what he's doing. he could be saying this. if you say the only thing blocking armageddon is a tax hike, sign me up for that pr fight because i'm willing to fight it. how do republicans then answer that they would turn it around, sacrifice the economy, the cliff, everything you talked about for keeping rates low on the rich? >> simple. l republicans just have topoint back tohistory. what did jack kennedy do?
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what did reagan d every time you lower tax rates and spread open the base, you gain revenue. neil: i agree, but i one-up you. if you argue years ago was that you didn't want to -- other than counter republican on extending them, save face saying now is not the time to raise them because the economy's rocky. we are actually rockier now than then. in other words, growth in the economy is less tn then. with that aument tan away, th is really a brazen political move that might or might not work, but it's clear where he's coming from. >> absolutely, neil, this is 100% politics becse you can't look at the map -- maybe the president doesn't ad the briefings from his intelligence people, but he's not reading the cbo reports. i reviewed the reports before i cameo the studio. neil: i love that about you.
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you always do your homework. god bless you, go ahead. >> look, nay say 9.1% unemployment. they say 2 million jobs lost, kneel. saying, look, if you extend everything rings go deep in the report to see it. we could see 4.5% growth in 2013. if we don't extend it, you're going to see growth between .8.and .17%. the president should say we have to extends this. i'm going to do wat's best for the country. i'm not going to try to gin up the base because, look, right now let's make sense. he's trying to gin up the base to get support because he's losing the middle american voter right now. the polls are clear about that. >> i think it's part of getting the base happy, but i also think, you know, you don't want to look like youe changing your mind and flipping op this so early. there's a double strategy.
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i'm no saying it's great strategy, but there is a method to this. >> no doubt, neil, from a political stand point, he has to say he's breaking the word again because in 2010, he made it clear, i will not do this again if he was on it now, he has to say heat gave back another promise to the left so -- here's the bottom line, neil. this is what's important to fox business news people. this has ramifications. it's not like this is just going to come and go and everything's going to be fine. the banks are warning, the imf is warning, the cbs is warning. i know in the personal business, i talk to businessman all over the country, they pull their hornin 2013, why not make that a year of growth rather than a year of stagnation? why not grow the economy versus trying to divide a stagnant economy up. he's not making sense. he shouldn't have promised a veto on this deal, never. neil: you're on on that wagon.
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thank you very much. good to see y you again. >> thank you. neil: insisting it's the president bringin us to the cliff, and in the end, it's not the rich getting hit, but the whole country will. explain. >> well, of course we're here in washington, d.c. again waitin until the lastsecond toddress the fiscal cliff a long time ming; right? no surprise there. going back to what the guest said, this all comes down to president oma's political eology of ting the rich and giving to people who he thinks benefit from that money but the fact isthat if the cuts are not extended to everyone, middle class families who president obama has been out on the campaign trail saying he's standing up for sees a tax increase of $3500. now, say they extend the cuts for those under the $250,000 mark. well, it's still affecting the middle class -- neil: no doubt. i try to understand is strategy here, and the part of it is that he will hang on that,
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the president and republicans, you mean tell me that you'll sacrifice taxes for everyone who is not rich like you, and everything that goes along wi this justto protect your friends, and if you want to go on your doorstep. how are republicans, then, going to agent in response? >> this is almost an impossible thing defend i you're a republican because y're trying to defend the rich and 11%. that's what the president is trying to put forward here. neil: in other words, john, that's a good -- i want to be clear. he then says we could have had a deal. we could have avoided falling off the cliff, tis train wreck, whever analogy you use, if not for the republicans, you know, tied so closely to the rich. >> right. that's what he said in the debate that romney has a one point plan to benefit the rich. this is jackson, fdr, the co
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commission, a time tested tradition in politics. go after the popular message, and you get re-elected. this has to do with the election inwo weeks, not t fiscal cliff. he has to draw the line because he said in four years he'll let the tax cut expire, and if he doesn't, he's got to at least stay until the election and then pick the fight in december. neil: that's the question. if h were to be re-elected, katie, then he's in is box. republicans will not consider letting the rates on the rich expire. maybe the possibility they have the election to be bygones, and who knows, but i think it's unlikely so then what is the approach? do you extend it a little? hair it out? does t president, and for that tter, republicans, look like
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they're losing face by doing something like that? it's all bust or all in. >> well, republicans put forward the idea of rewriting the tax code to make it simple; right? i want to talk about the idea of defending the rich. they're not defending the rich, but the jo creators. neil: you're preaching to the choir, i'must saying the guy's very good at th. he's a very, very adept campaigner. >> it's not working, neil. neil: polls show him slipping, but that's how he's going to brand it, and if he's re-elected, he's in the driver's seat on this so how will republicans -- i'm not saying that's a gimp, but just saying how do republicans respond to that pr attac >> well,y can say, look, we're not going to tax people who creating jobs in this country because unemployment is so high, and then president obama, if he decides you know, to let all -- to go off the fiscal clif he'sgoing to have to deal with the consequences of people not hiring,and that's already happening now, because as you know, neil, businesses
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are looking at their budgets for next year now, and they don't know what's going to happen so president obama's going to have to live with the consesequencesf ople notaving a job and unemployment go up as a result of not taking care of the situation now. neil: john, do you think we're going to get to that point? do you think it's going to exode? >> yah, i tnk there's a good chance of it because the president wants to makes this a zero some game and not say it's let's redo the tax code which is what a lot of moderates talk about. he wants to make this specifically about the rich, and because of that, we vry well could be. they are both painting themselves in a corner here. neil: are you in bermuda again? >> yes, sir, i am. neil: we'll be slightly north of you next week. i'm going to be live in boca ton going through midnight. join us on that. iran just dropped a bomb,
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iranian president says we're losing power because we're powering op with spending. so many here say that midget is right, but, first, billions meant to help out underwater homeowners, but they are the ones not getng the money. guess who is? everyone but the folks who need everyone but the folks who need it in those 4g lte is the fastest.
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il: bank settlement that increasingly provesettlg to lp struling home owners, but states use theoney for themselves and any but the homeowners. half the cash paid out not going to the homeowners as promised. david asman warned us about this as homeowners shouldn't hold breath. >> they never listen tome. neil: it's not the first time this happened. >> should it surprise anybody there's no water among thieves? look at the state houses in sacramento, springfield, illinois, albany, new york.
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zest pools. it's not you i'm talking about, the good people, but politicians in your city. the guys are to take the money and divide it up. how much government money goes to where it's supposed to go to? neil: under 20%? >> we had a trillion welfare bill, $1 trillion aear on welfare, food stamps, the whole lot of it. how much of that goes to people? if you take all the poverty programs together, add them up, and rather than giving morn to bureaucracies, write a check. you'd be every to raise every poor pern country in the mile class status. cut a check. neil: that doesn't mean the wallets do. it's weird. this was sold initially, and we covered this; right? there's like a laser-like focus to make sure it leaves washington to go directly to the homeowners, and there was a rule
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who would get it and how. you had to be at ast three months over, had to be in an overheated market, and this was a strategy how you could almost guarantee that money would arrive. >> all of these states signed on to it saying, okay, we'll do it, we'll do it. you're not looking at california there, which is not highlighted or new york, but t big state, they are the ones taking the most of it to deal with their irresponsible spending. it's going into the coffers. neil: when a chk comes from washington, it supposed to into a lock box. there's no box or lock. the state gets it, and what happens? >> well, they first make big promises about where it'sgoing to go. this is what happened in california where jerry brown said, okay, we have it divided up, some goes to help poor ople in house, some helps people in foreclosure ocedures, ect.. well, then, down the line, people forget about it. after the big public announcements and speeches and
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everything, people forget about it, and mone is fundable, money goes into the big pocket, and ually,n places like california and new york, those pockets don't have a hole in the bottom, and the money goes in and in and in. neil: the argument from the administrations, you know, money not spent is not money abused or wasted. it's just not spent. we got to get it out faster. it might not be used for nefarious purposes, but cld be in pot. what do you think of that? >> not much. a lot of the announcements come from federal agencies who spend no time tracking money they have. look at the organizations starting this, the federal reserve board. this $25 billion for therobo signing. thisas the settlement, $25 billion, it was issued the fine by the fedal reserve boar that's not a member of -- that's supposed to be a private institution. remember benjamin netanyahu saying we're not a part of the government. well, why, then are they forcing banks to give money to places
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where it doesn't end up. the federal reserve board is supposed to be a private institution actingike an arm ofhe government in doinghis, and, by the way, it'sed dad-frank, liz-warren creation bureau monitoring all of the robo signing deals, and talk about an endless pit, it's a $500 million agency that decides for themselves how mu they get fr taxpayers. it's a project supposed to be private, but that's an arm of the federal government. neil: what's more potentially here, say the money arrives to the right people, the have the money, and them that is assuming they were then able to stay in their homes. find out with a lot of these programs that they end up defaulting all over again so it's sor of li failu after failure after failure. the only difference is paying more for the pleasure. >> more agencies we have, more departments we have, more new rules and regulations we have,
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the more of the same we see. wherever you hav a government agency and regulator, you'll see wasted money lik we see in in program. it's going to happen. you know, no matter who is the next president, they have to dealith the new agencies created over the past three years, and they are not silifying things, and tey are not making it cheaper, but more compleand more pensive. neil: when you try to stop the ag thy, sometimes in washington you prolong it. >> that's right. put them out of the misery. that's the deal. ve washington somewhere, maybe bermuda. that wouldn't be bad, they wouldn't mind. neil: i think john set up shop ere. >> what aharacter. neil: thank you, david asman. he looks like he's from "shrek," but say this about iran's dictator, he sized up washington well and leave it to shorty to say we're the ones spent. call him ralph seeyou later,
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neil: the nut close to a nuke says we're the biggest threat to the world. cantor binned gad says that -- ahmadinejad says america's debt bomb is going to explode, and we're ground zero. you know thinks ar bad when the zero gets it, but the guys piling up the debteros do not. well put. now what? this guys sees us for what are. >> well, neil, consider the source here a little bit. ahmadinejad is a trash talking tyrant. back in 2007, he said the u.s. dollar would be worthless, and, ain, consider the source, a
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man whose own currency fell by 40in a month, inflation -- neil: yeah, but he controls the state. i'm not giving him kudos, but he'sot so stupid that to see the obvious, you know, problem here, and that is we canalk a good game, but financially, we're not playing one. >> certainly. i mean, we don't get it. we don't understand this that we're head -- neil, down the same path that crashed iran's economy, big spendin redrix of wealth, government control over every element of economic life, and, you know, we have in place a government, a president that honestly believes that piling on debt, that's spending money creates wealth. that's why we see him year after year, trillion dollar a year deficits and slack economic growth. neil: you heard what the president said earlier today, doubled down on this no compromise on the tax for the rich. he'll be president re-elted or
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not through the enof the year -- end of t the year, and he might push that regardless of defeat, and then what? what do you see happening? >> well, neil, what ultimately helps or hurts an economy is not one particular tax plan or this particular economic plan. it's the idea. e president's ideas are purely self-sackfficial,ll about redistribution from the so-called haves to t have-notes. that's always crashed the economy. regardless of what happens with this particular fiscal cliff, if we stay on this path, spending money we only do not have, but that we literally take from our citizens, the productive members of society, economic collapse is the only end game. neil: i agree, but nearly term, you heard about the immediate threat and we are freaked ut about it. i don't know why. i understand the combination of the rates expiring and taxes. it will be a doosy, no doub about it, and the official
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numbers at a minimum of 1.8 to the econom a recession, i know that's right, but for the sake of making a quick and potentially sloppy deal, we don't addresshe long term issue pointed out in oth words, weight escape the frying pan, but we end up in the fire anyway. >> all the quick deals, nemo, escape the fundmental issues that the economy's facing. it's not that we need a better plan or more redistribution, more court reporting -- control, but we need economic freedom, the one plan that is on the left and that the right have not tried. we know ahmadinejad has not, but our governme should. timately, that's why wealth and jobs come from as well. neil: way to go. that's powered. johnny, ank you very much. >> thank, neil, great to be with you. neil: all quite in lower manhattan today, business as usual.
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or click to learn more. [ male announcer ] if you can't afford your medicatn, astrazeneca may be able to help. neil: y, did you read the front page story of the guy who tried to pull another 9/11 in lower manhattan? oh, that's right. it was not on the front page, was it? a foiled terror plot relegated tohe deep inside pages of some of the america's premi newspapers. most makingscant note of a
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bangladesh in custody righ now, but who thought he was on the verge of becoming another bin laden sterday. a plot to bring down the federal reserve bank of new york barely worth a mention in nework. that is what is scary, my friends. not how he wanted to bury us, but how major immediating buried his wanting bury us. he says that's the problem with the ongoing war. we're come place sent even as the bad guys keep coming. as you often remind me, we succeed every time, they have to succeed just once, huh? >> absolutely, neil. thanks for hang me on again. we have been lucky, but the new york police department and fbi have been brillnt in tryingo catch theguys in cutting them off. we've been luckg in cases like the underaway who tried to set his underwear off. neil: imagine heucceeded and how close he was to succeeding.
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you reminded us, and i tip my hat to you, andhank you for not making me look like an idiot at the time where we come so close and get to kind of cocky was not the word, but come place sent about this war, and making it look easy, but it's not >> well, no, it's not. fortunaty,e've been lucky with this stuff. the guys they send over,nd this clown in new york, apparently was not sent, but came on his own jihad mission, but th people a not descendents, but from the shallow end of the gene pool here. neil: that i get, but i think they are plenty of smart guys, anddi'm not here to sing praises, bute was not an idiot. for all of these cooks and idiots who try to pull a stunt, this guy proclaimed on the
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internet a jihadist movement that's terror, but others are craftier. who is to say he's not a distraction? that he's not a se note to what might be an under lying real attack plan that we're missing? >> well, you're not paranoid, and, you know, for people like me, i sometimes wake up wonderingf i'm paranoid enough. they are dedicated people. there are nations sponsoring terrorism. imagine if the guy in new rk had been really dedicated rrorist who was supported by syria or iran and well fued and connected to other al-qaeda operatives here in the country, and i'm surehere's a lot of them. the point wa he might have been more successful. i mean, a thousand pound bomb will not bring down the federal reserve, but al-qaeda, forever, from the beginning, always wanted to dammings by damaging our economy. the economy is weak. you know that better than i. it's fragile. if you have a disruption, say,
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you know, make that building unusable for a week, things hurt around the country. they aim at big targets, and they try to have a big effect, and, you know, god help us, someday ttey may succeed. neil: you mentioned the threat, why always lower manhattan,n, wy so many the incidents, close ones in brooklyn and surrounding areas. why always manhattan? why lower manhattan? >> well, two things, biggest success, ever, was 9/11 occurring in manhattan, and they try to repeat that gaping the same glory that w a formed thought, and again, new york, you know, as much as a lot of other people say to new york, it's really the financial capital of world le america. if they do damage to the economy, that'sthe fastest target. again, i say, huge kudos to the fbi and nypd. neil: do you think we could see
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9/11 again? >> i think we could. i think it probably, you know, god help us if it happens, but ere's a lot of kinds of 9/11s that could happen. a massive cyber attack may yet happen taking down a large part of the financial structure. who knows. there'a lot of very imaginative bad guys out there. the threat is constant, nemo. we joke about paranoia, but it's a constant threat, the ideology that propels the people is not something we engaged to fight yet. as long as the ideolo is out there and propelling nations like iran to exhort terrorism and to assert terrorism, i mean, heck, they tried to blow u the saudi ambassador in washington, d.c. in one of my favorite restaurants. they are not going to stop. we hav to defeat them, and that's got to be also an ideological war, not just a kinetic war. neil: thank you, my friend. good seein you. >> thank you, sir. neil: big dog and boss stomping for the president today. looks like the president needs penn because a bunch of
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isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks combed. >> if heould have brought the saxaphone, i wou have -- [cheers and applause] you would have seen a real jam up here. neil: bubba and the boss. bight and real rock star bruce spring steen rallying in ohio today for president obama. the president could use the star power because it's said more and more party lumiries are singing a different tune. what's going on with them,de, na? >> thank you for having me on the show. good to be back. vulnerable senate candidates running from the president's record. there's senator joe mansion in west virginia criticizing the president for releasing details of the binaden raid, and j
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donnelly in indiana criticizi the president, bob kerry in nebraska, and even obama's trying to distance himself from the record. we saw in the past few debates all he can do is criticize mitt romney for preparing a $5 trillion tax cut mitt romney's not even proposing. look at obama's record, no wonder candidates want to distance it. unemployment at 7.8%, as high as it was when obama took office, and higher when you factor in the people who dropped out of the work force. over $1 trillion deficit every single yr. neil: it's worse than it was and worse than the industrial average, and what said that better than paul ryan speaking of scranton, pennsylvania, the vice president's birthplace now looking at roughly 1.5% higher unemployment than when he took office. having said that, though, how do they explain to the president, you don't have to campaign with me, big guy or they don't call
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him or how do they play it? did the second debate that many argue at least the president showed up for that one, did that change any of this? what are you hearing? >> well, it's impossible to really, for themto really distant themselves from obama because the people, democrats running for office now have been in office the entire time the president's been. they have been in congress, and the prident couldn't have all of these unprecedented spending levels, record deficits, record debt if not for the house, and the sena and the first two years of the presidency pushing through all the bills. obamacare's impossible without them, dodd-frank, stimulus, ect. ect., ect.. all it does is point out the democrats department perform when they were in power in the house, senate, and presidency. neil: coulde something se going on. confusion in the polls lends me to believe people with no backbone, and this applies to all types, republicans and democrats, they don't know who to suck up to,nd so when the
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president looks strong, you know, wow, he's my guy,i'll be with him. when he looks weak and after debate, and i know the rolling day average polls, gallop and others don't take into account the second debate, but he's further behind mt romney so then they start feeling, well, maybe i shouldn't be running back to the big guy just yet. i think wall street is thesame way. a lot of the ceos who hedge bets, didn't know who they were going to align themselves too, and they made up minds just a month ago to hell with it. we don't care if he runs, roll the dice, and hook up to mitt romney, hope he wins, but we can't do worse than what we do with president obama. are democrats at that point where their cutting bait now, even if the polls look encouraging for the president? >> well, i think bruce springsteen is a good example of this phenomena that you're talking about because he's been very tent thattive in the
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endorsement, and he's campaigning with bill l clinton, he took a long time whereas in 2008, he was gung hond in 2004 for kerry, he was gung ho, and to the letter of the president, he sd it was a rough ride. i think economists' conception about independents is that they are just looking for a moderate position, but you said it perfectly. they are looking for somebody with backbone, and mitt romney displayethat in the last two debates. democrats' best line in campaigning is to stick to principle, but the fact is, i don't know what the prince. s are othe than higher taxes on the rich. neil: you seem to be for mitt romney based on what you said. good seeing you. >> thank you. neil: now ralph had enough. nader on a government that grows and not saving anything. and not saving anything.
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neil: you heard the fiscal iff is coming whether we over talk about it or not, and the debt is soaring, and washington,ell, they are just dad ling. the economy's still strgling. a new report showing the government spends more on welfare programs last year than anything else. nader says the country's in crisis and needs ideas proposing re-eming about everything we do part of the 17 solutions, and it's author, ralph nader is here. ralph, good to see you. >> thank you, neil. neil: what did we do, the left and the right, wrong in doing budgets? >> we didn't allocate them in the areas that spell fairness and economic development for the majority of the people, but mped into military, weapons systems, obsolete, wars of
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aggression. that's not productive for jobs back home. there's a tax syst with perverse incentives, doesn't provide incentives for productive things, but provides speculation, and the third, and most re-elected lant is that we don't have an adequate public works program. we should take the corporate welfare, get rid of it, have fairer taxation of cooperations paying no federal income tax like genera electric or verizon, and cut the bloated miliry budget, put it in repairing america in every community. you know the list, schools, clinics, public transits, sewage, water systems, good jobs that can't be exported to china. il: you would raise taxes on corporations, well to do, all of that thing, and pour it into a big old infrastructure on steroids here? that seems to work like a charm in the past, butho's to say throwi more money at it will
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yield any different result? >> wl, that's the sond act. th second agent's making sure the auditors are there and local communities have this money spent proper so it doesn't get wasted. neil: never happens. we had a lock box for social securityright? we had targeted lower tax rates regarding schools to make sur that, you know, the money that was going to go to education would land directl at those schools' doorstepsment didn't happen. >> if yore saying we can't have a society tat's fair and productive without citizen engagement and taxpayer engagement, i agree with you. that's why in the book i have ways to have civic power, cisk education in the schools, and congressional wa dog groups in every district. when you have more poverty, you have more food stamps. neil: do you think we need everyone to have skin in the game? say you're right, we have to spread the wealth, you and i can
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disagree on the particulars of that, but deferring to you for the argument. if so few, whether the corporations or the well-to-do foot the bill and pay the taxes, and 47% are not paying any come taxes, federallincome taxes, by the way, ralph, i take nothinaway from those pays social security taxes from those who retired spending a life paying taxes. i'm not here to minimize the contributions or get in a class warfare with you, b when i left and graduated fr grad school, it was 2. it ballooned to almost half. how's that constructive to what ralph na -- erments to do when so -- narments to when so few have skin in the game. >> adjust it for inflation, tens of billions of dollars for 30 million workers making less now than was made in 1968. neil: minimum wage of what
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today? >> $10.38, equivalent of 1968, 70% of the people. neil: we can argue about how effective has for sml business owners and llingness to hire. that lifts their work that raises their base, they become x paying americans. then what? how much of a difference do you think it makes? how much does it bring down 47%? maybe to 40%? >> yeah, but that's the easy one, the quick one, but others are effective. if you that public works program, these are well-paying jobs paying income tax, but, you see, i think we should tax, first, speculator stock transactions, tax pollution, carbon tax, exxon is even okay with that. tax addictive products before we ta work. also, have a natural debate on a progressive consumpti tax. neil: i know you don't like wall street and hav a distrust o the financial guide, mh of that deserved over the years. if you're right from the gt-go,
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setting up a series of taxes or just more taxes, who would invest in an environment and in a country that does that? >> well, you tax things that a ciety wants to diminish. that's why there's a tobacco tax, for example. you tax things -- neil: do you wt to diminish the stock market and capitalism and free enterprise? no, diminish corporate crime, pollution -- neil: i know, but going after the criminals -- going after the fe criminals, are you destroying it for those who -- and i know it's startling to believe, but are not crood, that -- >> don't tax that. neil: they are not lucifer. >> what you tax is that -- neil: no one puts on their 1040, criminal behavior. don't tax wild six tier speculations, bets, bets on,
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derivative, derivave. that's casino capitalism, not productive. that's the problem. the corporations sit on $2 trillion of money, not giving adequate dividends to the owners who they -- neil: why are you depending on that? a lot fear they don't know what's happening on taxes, ad a lot fear their double taxed for bringing money already been taxed back home, a lot fear regulations, same stuff you like, and lot fear health care laws that's messier and uglie for the day. i know you don't like them, but sit tight on the cash. >> a lot don't want to give dividends ck to the shareholders, nuer one, and a lot of them -- neil: by the way --y the way, there maybe little appetite period taxes dividends at the topncome rate. why bother? >> i agree with reagan. he taxed diff deandz, capital gains, and ordinary income at the same, even steven. is reagan too radical for fox news and neil cavuto? neil: as i told you before, reagan in the 1986 x tried to
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close loopholes to rid of special allowances and credits. right toake sure you expand the tax base and those avoiding paying did not. you're right about that. but the idea was to close loopholes preventing many from paying taxes. this is what i want to ask you. you trust the gvernment to handle this. i do not. you give the government virtue that i do not share. you don't -- >> you put words in my mouth. neil: you address the enterprise, i do not. >> listen, neil, you can'tount the number of times we've sued government so don't put words in my mouth. i want the peopl in control of the vernment. i dot want a few corporations to turn and control majority members of congress andshovel cash to nullify votes. that's numr one. number two, mitt roulette romney is so far to the right neil:
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doesn't have a good ring to it. >> so far to the right of agan, so far to the right of nixon, and so are the republicans congress. we're dealing here with a rogue republican party, and the fact is -- neil: you said they are both failing us. at the same time, you say parties fail us, you put trust in a government that you think gets it right; right? bottom line? >> no, i want belter elected officials and more voter choice. ey locked up the green party eight hours chain in the debate in hofstra because shemeed to highlight the fact that third parties are shut out of the debate sysm. neil: fair enough. i want to have you back, but on the my corporate time, is good to have you, make you think, to have you, make you think, he'll with the spark sh card fr capital one, olaf's pizza palace gets t most rewards of any small business crit card!
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melissa: i'm melissa francis, here's what's "money" tonight. google takes an epic face plant. its earngs leaked early by accident the tech giant misses estimates by a mile. we've got breaking details ju how bad it could get. plus president obama and mitt romney trading blows over coal. robert murray, ceo of coal giant murray energy is here in a fox business exclusive to tell us who he thinks is really a friend and who is a foe. two syrian oil and gas pipelines are blown up near the
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