abandon our principles. ronald reagan got 35% of the latino build. in 1986, he signed the amnesty bill. you would think that his or support would skyrocket. but we were wrong. the idea that we should abandon our priciples, in order to go after those votes, simply historically does not work >> the idea that we should do the opposite is just, it is rational. lou: we are going to have to leave it herere or in we thank l threof you. lou: now for your comments, at the fiscal cut is only way to get spending cut out of this government, geronimo. and carol says sandra of time mt

>> happy new year to you from the fox business network. we're monitoring the situation on capitol hill. they could be a vote from the senate, we will go over the fiscal cliff. the u.s. economy will likely do a belly flop or the u.s. economy holding on for its your life depending on the fiscal cliff outcome. rich edson on capitol hill with the latest on if there will be a vote and the vice president getting involved once again. what is the latest? >> he will arrive sometime this evening because there are a number of senate democrats have issue with the framework between vice president joe biden, the senator himself and senate minority leader mitch mcconnell. the framework of that, the tax portion is a done deal exempting income of $400,000 for individuals, $450,000 for

married couples, families from a tax increase. it also puts the capital gains tax keeping it consistent to me to those rates for income above that capital gains tax goes to 20%. presley patches the minimum tax ensuring live we as americans dt have to pay the estate tax goes to 40% on all mounts of $5 million a one-year extension of long-term unemployment benefits as part of this. also what is known as the medicare doctors getting a pay cut every so often, congress goes back and fills it in, this involves that as well. >> is a vic the vice president g to do strong-arming or some dealmaking promises or is he just trying to rally the troops? >> a little bit of all three. the only part that appears to be outstanding at this point is the automatic spending cuts. $94 billion known as the

sequester kicking in in 2013 through the entire year. democrats want to push that off. so wanted to find spending cuts elsewhere in the budget. that issue is still a bit of a problem. the tax part is something some democrats have a problem with it. >> is there any timetable for a scheduled vote? >> late into the evening if at all tonight. >> late into the evening if at all tonight. the champagne will stay in the refrigerator for all of us at fox business as we work this new year's eve to make sure you know at the very minute that happens whether or not the senate takes a vote on the deal to avert a fiscal cliff. we are going off the cliff but doesn't have to be as bad as some people have predicted. the latest every hour on the hour at the top of the hour and we will break into the program if something should rate. >> now return you to your

regularly planned geoghan. >> my taxes went up 30% and how can anybody get excited about life when you're like that? somehow we have to get strategi that says we have to get thesom engine in the economy pumpingipt again. neil: lot has been mentioned if he lowered tax rates adjust the notion that tax rates, the bush rates stay where they are and you know it will be for years to come, you are going to do things differently, individuals,tha corporate bosses, do you buy that? everybody talks about reducing taxes because they want more capital to grow their business. but it's also regulations. businesses are confronted at the township and city level. >> here in chicago, you need 161 licenses to open up the

business. >> if you open up a job shop, you have to have a license to give thm a bath. it's ridiculous. why can't we consolidate some of these things and reduce the bureaucracy? it isn't about the people collecting anything but a paycheck. neil: they must realize that te more they push this, the more it it endangers the economy and their very jobs are online. >> you would think so, when you? there is a lot of evidence that says those people inside the beltway are living in a bubble. washington dc is the only city in the united states that has had taken continuous growthh

>> what about when gas comes down? >> you have a gas situation where you have $4000 and their wages have only gone up about 1%. was coming up, where is the thing going to? >> it leaves cut taxes.

>> i'd like to see taxes go down and someone say america is great. let's do everything we can to eliminate obstacles to success vmax my next guest says that regulations are really killing business. we have congressman eric cantor, the house majority leader is pushing to cut the red tape. and since he does have out there, he actually has a shot at doing it. it's just too hard right now for businesses to continue to operate, gen all the onerous and burdensome regulations coming out of washington. and we want to make that stop so we can turn the country around and began to be a starter country again. know that the obama administration over the course of the term has imposed 400 regulations that impose more than $100 million of costs annually on small businesses. the small business administration has said that there are so many regulatory burdens on small business that

it cost them $10,000 per employee. those are the kinds of things that we want to stop rig now so we can see more startup and jobs created. >> is one thing to hope for freezing regulations. but guess we had hoped for "a-team" canaday. if you don't know these regulations, you could be in big trouble. let's say that you stop adding to the regulations. that alone has prompted the obama administration say, well, republicans don't want to protect us. how are you going to answer the predictable criticism that you're not looking out for folks, you are looking out for business interests? >> well, we are. we are saying in health emergency, of course. any sensible policymaker would say you have to be able to address those. but right now, the pendulum has swung so far that it's very difficult to even conceive starting up your business. and we want that to occur again.

much less allowing for those who are operating businesses to keep thlights on and grow. you know, you look at the last three years. we have seen a 23% decline in the number of business startups. in america, we are a starter country and we want to see it happen again. neil: he was ronald reagan's top money guy. why he says capitalism is in trouble these days and it's the governments fault. by the way, republicans as well. we have david stockman acts. and suzanne somers on lala land going gaga over president obama. but next, ralph nader has had enough. he says that both parties in washington are flailing. and that is why the economy is failing.

neil: the economy is stumbling. nothing seems to be happening, but ralph nader has got a plan. one day he says e will get companies hiring and fast. getting people spending soon. >> nonfinancial companies are sitting on over a trillion dollars of shareholders cash. the investors cash. a lot of them are not giving adequate evidence. some of them like google and emc giving no dividends. if they can be pressured by pension nds to unload a cup and billion dollars into the economy, people would spend it. they don't like the tax penalty

for it. would you give them a tax holiday? you have to put it to use and do something? >> they tried that in 2004 and they brought back hundreds of villains. they put the murders and bonuses and what we have to do is recognize the president obama is not an economic dictator. the federal reserve can bring interest industry rates much lower. so we have to go to these two other areas are overwhelming support of inflation adjusted minimum wage. >> i'm not alone in an environment like this, how are you going to compel businesses, fast food joints and the rest, but it's in there nterest to raise the rates when they are barely getting by as it is just as henry ford did back before world war i to $5.

he said he wanted people to buy the cards. that's what you got to do. neil: so what about substance of the country wherethey have jobs with $10 an hour. were people really aren't jumping on these jobs. where we have a country where help wanted advertising is at an all-time high. a lot of people, for whatever reason, it are having trouble with work. >> we are talking between seven and a quarter and 10. he would get a long-overdue pay raise just to in just to inflation. if you have rick santorum and mitt romney saying the minimum wage should be ingested, that would put pressure on them. >> let me ask yo this. do you think the people are as tired of the notion of government could do something?

we have seen a little bang for the buck. a lot of people are going the other way. they are careful to go that way because they remember republicans. but is therere limit to what the government can do? would you say that cars being made safely, and they say, you know, government can't make an economy as a whole. >> they don't have much power. we have to demand more from big business. neil: will the government demand that? >> business can hardly keep up with the corporate climb. barclays, jpmorgan chase, now, wasko, 3 billion-dollar fine. we have to save these corporations.

they were built on the backs of american workers. build buildout by american taxpayers. recording record profits. sitting on trillions of dollars, keeping them away from their owners and the investors and the workers. neil: are you saying that there was crime involved? there was no crime involved. are you saying that all of these guys are typical? in other words with that there are more bad guys and good gus? >> the big guys have too ch power and are too big to fail and all that. >> leches take the fortune 500. would you say, you mentioned three prominent companies. would you say that is 3%? 5%? 50%? i just disagree with that. >> if you look at the reports, my book that you've mentioned, those are reports from "the wall street journal." the ap, "washington post", 60 minutes. we live in a corporate world.

there are not enough on the corporate crime beat. nei economic gloom and doom is actually helping this gentleman alive. to are you kidding me? >> i am not kidding you. i just need $150 and no that. the boys use capital one venture miles for their annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. but with the capital one venture card you get double miles you can actually use. [ cheering ]

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>> i'm not going awhere. >> go right out the front door. how about that? >> how about that?

>> listen here, listen -- i don't give a darn, you can have it. >> here is your ball. neil: here is something that israel is the economy. it's a very bad, that business that pawnshops -- well, he says everyone is coming in lately and even richfolks. that's what our next guest says. >> she left calmly, because she hano option. when we can't take your pond item, we can help you. it started with her in it resonated on to me. we don't want to be disrespectful. when you disrespect us, we act accordingly. neil: you act a little scare away. what is going on here? you know, we are hearing so much

about wedding rings and engagement rings and everything. we have seen an uptick in people that make a lot of money what average folks are telling you, showing you, palming onto you, tell us about the economy. >> we have merchandise which is up online, with the other one is for redeeming merchandise. the economy is good. our sales floor is busier.

our palm lines are longer and we are taking in a lot more merchandise. right now it's getting a little bit better. people are working desperately to get to work.

people just need to go out and every morning when you wake up coming have to ask yourself, how bad do you want to? go get a job, it doesn't matter if you clean the streets are mowed a lawn, or you are a doctor, there are opportunities out there. what i advise them is don't over extend yourself.

neil: my wife's 250,000-dollar ring, -- [talking over each other] [talking over each other] >> we've been doing this long enough, we understand. >> don't go anywhere else. thank you very much for coming. he is the guy. we will have the response to bara obama coming up next. ♪ grew up in a small town and when the rain wod fall down ♪

♪ i'd just stare out my window ♪ ♪ dreaming of what ould be and if i'd end up happy ♪ ♪ i would pray i could breakaway ♪ ♪ i'll spread my wings and i'll learn how to fly ♪ i'll do what it takes till i touch the sky ♪ ♪ i gotta take a risk, take a chance, make a change, and break away ♪ ♪ wanna feel the wa breeze, sleep under a palm tree ♪ ♪ feel the rush of the ocean ♪ ♪ get on board a fast train, travel on a jet plane far away ♪ ♪ and break away

♪ out of the darkness and into the sun ♪ ♪ but i won't forget the place i come from ♪ ♪ i gotta take a risk, take a chance, make a change, and break away ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

[ male announcer ] a full life meured in seats starts with the right ones early on. car crashes are the number one killer of children 1 through 13. learn how to prevent deaths and injuries by using the right car seat for your child's age and size. neil: it has been pretty much the legacy of this present's

term and itas handed off by his precessor if you think about it. auto companies, you name it. a lot of us actually started a long time ago befoe eachof these men even came in to office. back to the carter years, to chrysler. a very big bailout. david stockman, who was then congssman was urging against. >> i was running for reelection and chrysler was the biggest employer and i got the highest% of election because i suck my principles. the professionals knew that if they got in trouble, they were big enough to make a stink and to go down. neil: but now things have switched. now they have gone from too big to fail.

>> up the speech that i gave and i was very unpopular in the mission michigan delegation. i voted against the appropriation. [talking over each other] ronald reagan might get. >> the point was it was a mistake then. not only for chrysler, because we had to bail them out again 25 years later, how can we have financial markets that have been disciplined where mistakes and errors go unpunished? you can. capitalism doesn't work that way. neil: i agree with you. you bertie concerned me. we had no choice because there was a financial abyss waiting. but if we can stabilize, the

whole world would have collapsed. i've been spending the last 2.5 years writing a book on this very topic that will be coming out next winter. take aig. they had written proper rules, they wouldn't have had these problems. therefore,e could have put aig into bankruptcy. the only difference is one woman was writing all this stuff. >> so we would have survived? >> yes. neil: now we have an environment where this is routinely done. the european central bank will

do the same over there. >> what has become of capitalism? >> the capitalism has been destroyed by central banks. they are the price of death. when you have the entire financial system trading off the last of the statements and whispered words of the central banks, it is no longer doing its job. or allocating capital, discounting the future, making choices within the fincial system. so if you don't have catal markets that are robust and working, how can you have a dynamic of capitalism? i don't think you do. this is the ultimate fault of this money printing binge that were on today. neil: up that the chicken is coming to roast? >> everybody is making their own choice. we have massive speculaon going on.

basically we are diverting capital to a spectrum of use. at we are telling washington, you are running a deficit for the fourth year in a row and yet you can borrow money almost for nothing. so why don't you just wait another year or two years. who wants to take the fall? who wants to take the political heat if you can borrow money for five years, which is what they are doing now. neil: we are building another debt bubble? >> yes, we are doing so. >> i don't know what you call it. we've never been there before, we've never had a central bank. we've never had anything like that. >> you don't think it can walk past the graveyard much longer? >> i don't think so. i don't think we can whistle the tune very much longer. >> okay. neil: if you had a lead suit you would buy it.

[laughter] neil: david, thank you so much. the president is now speaking out. that coming up next ♪ grew up i in a small town and when the rain would fall down ♪ ♪ i'd just stare out my window ♪ ♪ dreaming of what could be and if i'd end up happy ♪ ♪ i would pray i could breakaway ♪ ♪ i'll spread my wings and i'll learn how to fly ♪ i'll do what it takes till i touch the sky ♪ ♪ i gotta make a wish, take a chance, make a chge, and break away ♪ ♪ out of the darkness and into the sun ♪

♪ i won't forget all the ones that i love ♪ ♪ i gotta take a risk, take a chance, make a change, and break away ♪

neil: probably not a fox alert to tell you that huge celebrities like democrats, they actually help the president win if you think about it. but not every star was going ga over the president. suzanne somers says that that is a risk for them as well. if you are conservative, you are not welcome in hollywood. >> is it really does liberal bastion? >> yes, it is a liberal bastion. >> they don't associate with moderate to conservative? >> it is all about that ideology. you know, when you make that much money, you don't care. because you have your money.

neil: would they think about en jon lovitz came along. >> he's not invited either he never going to be invited. neil: but he said enough of this. >> i thought that was interesting. not many people speak out like that. i have a little business, so i like to not offend anybody. so i don't tell anybody my views either way. neil: i would say i'm a centrist that leans to the right. neil: you have to be moderate on her persona non grata. >> i sell my little life with my organic skincare. neil: that's a lot of money for your little skincare line. >> i didn't leave tv. i was escord and booted out the door in and fired. i get tired a lot.

>> how dare me to expect them to pay me what they pay the men. but then it was good because i thought i will never work for anybody else again. so i work for myself, and i have all these yea. >> all the beauty products and things, everything around her image, do you feel a lot of pressure without? to feel beautiful? >> i just wake up like this and it's so easy. neil: me too. [laughter] i saw you talk to will tell welsh. >> my thing is that she knows her image is everything. everything has to be rght. >> her writing is very good anyway. i feel pretty confident. neil: you know, the writing at

50 pounds, did you know that? [laughter] [talking over each other] [talking over each other] neil: will this be mitt romney's disadvantage to the media? >> it probably is, but it won't be to me. >> i think that he should have come out a long time ago and said this. but anyway i'm glad he did. most of my friends are. neil: he's not going to pick up any additional eleoral votes, maybe he did it for all the righreasons. >> it could've been perfect timing. neil: what do you mean? >> well, you know, -- il: with some liberal friends hold off on giving him more

money? >> i think that a contingency did. this is what they really want. if they are not thinking about the ramifications on the economy and what's going to happen in is country goes socialist. neil: do you think that this country will go socialist? >> i do worry. i have my little business and i do worry. at a certain point when you're a small business like i am -- neil: you're not a small business. you are a warren buffett with long-haired if you reach a point where you get to 75%, which is being tossed around there, how can you keep your employees? at some point when you're not maki any profit. neil: a lot of what you say, it

is 35% right now, that's what you're saying, you bring in up to 39.6% under clinton. i might be able to live without. i might not. is their level of crunching the numbers? you are pretty good at math? >> i am married to a canadian and i can always run to canada. [laughter] he has dual citizenship. neil: may be billionaires are not focusing on jobs because they are focusing on their love lis or their lack of one. how the grinch are striking out these days. it could be a real beach for it could be a real beach for jobs.c, afc, offensive lineman, defensive tackles, quarterbacks and cornerbacks are all workinwith united way.

for a million little reasons. the kids of our communities. to ensure their academic success, all the way to graduation day. it takes about 12 years to create a graduate. it takes the same time to create a opout. and the differenceyears between a kid becoming one or the other could be professional athlete. or it could be you. studies show, the earlier we get to kids, the better their chances. so become a united way volunteer reader, tutor or mentor. make a difference in the life of a child. for the life of tt child. give. advocate. volunteer. live. united. join your favorite nfl players. take the pledge. go to unitedway.org.

neil: if you are rich, the president is itching to go after you. my next guest says that is bad, but this could be worse. millionaires and billionaires are having a taxing good time finding love. but 1-800-flowers, jim mccann says that he has the fix for that. am finding that the peak is in. they are all telling me about what things are all about, the number o or number two show in the country is the big bang theory, so we are all celebrating the geek. neil: this idea that if you have this business, very good common sense, i think they are looking for answers in all the wrong places. how do you invite them?

>> i will tell you as a florist, it is good business being in an ability to help people and relationships. i have been a social worker, i have been a florist, and both have a common theme. i wrote a book about my discoveries about the thing that makes us unique on this planet, which is a core of the story. the matter what, everything we do, whether it's the plaes we work with a service organizations that we might want to come in the sporting activities, we are all seeking out social intimacy. and if you are a hard-working and hardcharging geek of some success or not, you may not have the opportunity to meet someone, yet we are searching for that every day. neil: you have a lot of guys that send flowers from secret admirers and all that. >> we are very happy to hear that. neil: you were telling me during the break that the number of

guys who send flowers out is not a reflection of a date or anniversary is because the they are sorry or they did something stupid. >> there's not a days that goes by that i don't have a young guy come up to me and say you saved my butt so many times because i've always screwed up. either we make less mistakes, but it's a high percentage for young men. not so much for the older guys. they be we have smartened up. neil: you should have an apology bouquet. we have a dog house uk. do people use flowers to make a statement?

>> during the last few years, the top recessionary times, we saw a number of transactions with the average ticket was down. and our food businesses held up even better. a box of chocolates might be a little bit less ephemeral than a bouquet of flowers. birthdays are still going to come around. all of those celebratorory occasions e going to come around they need to participate in. we had a nice little service that will help othes. neil: who better than the guy who plays cliff on how jobs ar falling off a cliff. john mica murder on layouts that are way out of the norm. and while he says his fix is better than washington's. better than washington's. bar none. [poignant country music]

♪ ♪ remember when ♪ we vowed the vows and walked the walk ♪ ♪ and gave our hearts ♪ made a start and it was hard ♪ ♪ we lived and learned ♪ life threw curves ♪ there was joy, there was hurt ♪ ♪ remember when ♪ ♪ remember when ♪ we said when we turned gray ♪ ♪ when the children ♪ grow up and move away ♪ we won't be sad

♪ we'll be glad ♪ for all the life we've had ♪ and we'll remember when ♪ ♪ remember when

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neil: clip is going postal. a famous actor who played clip on the hit tv show cheers, with millions of workers struggling to find work, he is working to get actors back to work.

neil: it was almost ingrained in us to move away from that. it really killed us, do not. >> yes, it did. i started talking about the subject about 10 years ago when the water was ater ankles and now it's up to her chin. because the average age of someone who is skilled and can make things, whether it's in a fax factory or a plumber or welder is about 57 years old. very soon, they will all be retired and we have no one coming up after them. everyone is taling about what kind of capricorn where. but we are heading for a crisis. while business, whatever the businesses, stems from two things. mining, manufacturing and farming. everything springs from no. you have to have people showing up to have the skills. and we have never taught her kids the skills the last 30

years. they would sooner turn those guys away and search for cheaper labor. the reality is deades. you are not going to call a plumber from china to unclog your toilet or a welder. neil: so now you are saying that we have to encourage this. so we put almost a scarlet letter to a? >> it is hollywood's fixation they came out of the charlie chaplin view of factory workers. it's not like that anymore. you have to have computer skills. people who give advice to high school kids should say, start

educating kids like we used to. neil: even if th found their jobs that don't pay what they used to, n this environment, it will pay you anything you are going to get and you will be grateful fort. >> the government has to understand. [talking over each other] [talking over each other] neil: what about barack obama? >> the government needs to get out of the way.

manufacturing is to america what spinach is to popeye. the streth of america is manufactured. neil: you don't think we can have a great country based on service? >> again, you go back to our terminals and electricity has to come through there. where you get do you get that from? a hydroelectric dam words power that is coal-fired. and now now they have all of these restrictions on coal mining and also the hydroelectric and i have talked to the pple and they said that they can't find workers that work on the turbines to repair

the turbines. so the day to come. it could come when no one is around to manufacture it. every little part has to be shaped. someone has to take a chunk of metal and put it into the machine and all that down to 120 southend-- 120,000th of an inch. neil: you been in every pixar movie. >> .true, but in the long haul, actors, sports, celebrities, the rest of us, we aen't. neil: how did you do it? how did you succeed and do the things you do? how do you you still be a big success in hollywood? the left lov