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tv   Cashin In  FOX Business  June 2, 2013 9:30am-10:01am EDT

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to go up? >> yes. >> no. >> yes. >> i'lgoith the yeses. thanks for watching. the numb one busiss block continues with eric bowling and cash me ply. ♪ash me ply. ♪ irs cruise foorg bruising after picking a fight withonservatives, texas senator ted cruze is here. leading the chae to abolish the irs altogether. you don't have to be a reporter for this administration to size you up. now thanks to obamacare if you weigh too much or smoke, you'll be slapped with a fine. is had a fine with you? and teacher is in hot water, is this what is wrong with the american education system. "cashin' in" looking for your rights starts right now. >> welcome to "cashin' in." we'll be going full speed
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exploring the latest scandals in washington with "cashin' in" crew but time for cruise control. in the hot seat. my old friend, ted. we go all the way back to old days, and nator you are leading the charge to abolish t irs. tell us your plan. >> look w have seen in recent wks that the irs has not honored its trust with the american people. that the obama administration has demonstrated a willingness to use the machinery of government. to target their political enemies. that is wrong. itas wrong when richard nixon did it and it was wrong when barack obama did it. when the federal government has that much power in individual lives it's an invitatioto be abused. i think should move to a simple flat tax where the
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average american can fill out tax on postcard. put down how much you earn, a deduction for charitable contributions and how much you owe. it oug to be a simple one page postcard and take the agents, the bureaucracy out of washington and limit the power of government. >> eric: i have a hunch you might get suport for that? >> it's about empowering the people and that ought to be a bipartan value, something that republicans and democrats can both embrace empowering the citizenry instead of liticians i washington. >> eric: a lot of us are concern because the irs has en entrusted by obama administration to administer obamacare. doou trust them to handle that? >> not remotely. th the irs is gven keen
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administerg our healthcare. concerning vital aspects of taking care of our family's health and loved ones health. they are creating the largest databasen the country to implement obamacare. the intruce into our person lives i tink is unacceptable. the pattern w see is not something we can trust that will be administered in a fair way. that it won't be a used in a partisan way in a vindictive way and that is unacceptable. >> eric: could you expand to that. if there was partisan targeting in financial matters, may they do that in medical matters, too? >> we have seen a consistent pattern in in administratn and the pattern is a willingness to use the machinery of government to target those they perceive as their political enemies. that is true with the irs. it's true with the department of justice that has been targeting
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reporters, targeting fox news, going after reporter hat would dare be critical of this adminiration. and i think -- frankly, it's the power that the ends justify the means. this administration has been willing to disregard the bill of rights, onstitution,irst amendment, second amendment, th and fifth amendments with drone policy. to set aside the con strntsd have the law for partisan aims. the result has been that people's trust and the inegrity of government has been undermined and hasn't en helped by the fact that t administration has been willing to mislead the american people. i think the president needs to tell the truth. >> eric: you bring up at least two of the three pending scandals. the problem of transparency that that gave us has given way to denials.
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what would you tell president obama? would y tell him to step aside? >> i would tell him to t tell the truth. i think every president has an obligation to candor to the american people, not to mislead the american people. we have seen two instances of senior administration officials committing flat out falsehoods. the wite house press sectary stated neither the white house state department had edited the talking points on bengha other than changing the word consulate. in a couple of days, abc ws reported that was false. they had edited 12 different times and moved reference to al-qaeda and terrorism. that is directly objectively provable false statement made by the president of the united states. within roughly the se time period th irs went before congress and said the irs has not been targeting conservative organizations, prosrael
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organizations, those organizations that the administration perceives to be enemies. when senior officials at irs knew this was false they made objectively false sttement. that pattern undeines trust of our democratic ins tuig and the president needs to take sponsibility. there needs to be accountability and we need to find out what happened and president needs to tell the truth. >> eric:let's turn the page gog forward. immigration is going to be one of major themes going forward by the obama administration. marco rubio hasut forward and idea that may include some sovtd amnesty for illegals, may include some amnesty for illegals. > i would like to see i pass in congress. i think the way to pass a bill is to focus on areas of bipartisan agreement. that is how youet omething accomplished. in immigration the i think there is a widespread bipartisan agreement number one tat we have to get serious securing our borders, it doesn't make
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sense who is coming into this country. number o, that wee to improve,e need to stream linend expand lega immigration so we can remain a nation that welcomes and celebrate legal immigrants. my dad came to this country 55 years ago penniless from cuba, that is our shared heritage. if we focus on areas of agreement we can fix the broken immigration system. unfortunately what the senate democrats are trying to do, they are focusing on areas of sharp partisan disagreement. i think that is sadly, because the obama white house wants a political sue more than they want to pass a ll. they wanted a partisan issue. they ho the bill will be passed in senate so they voted down in the house so they can cpaign on it. that is cynical. >> eric: so your father came over here 55 years ago
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with high profile and speculation that y may be looking at a higher office, presidency. will you explain how you would be able to handle running for president if you were born in canada? the facts of my birth, i was born in canada, my mother wasrn in wilmington. i've been in senate first elected position. last thing i was elected to a student council. my focus is on the u.s. senate. that is the battlefield right now. we are fighting to turn our country around. we are at the edge of a cliff. we are at edge of fiscal cliff. we neat economic and opportunity back. hundred percent of my focus is so the u.s. senate right now and helping republicans win the senate zblooshlg i'm a big fan of yours. when senator mccain and rand paul were whacko birds. i was mad about that.
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have you figured out what a whacko bird is? >> i like and rpect senator mccain. he is a national hero. he is man of great integrity. i will say this, that a standing for liberty liberty and standing f the constitution makes you a whacko bird, then you counted me as a proud acko bird. >> eric:ly be a whacko bird right behind you. senator cruz, thanks for coming on "cashin' in" this morning. >> and miss america, if you got advic you may want t pay the price and put down the foxnews.com.
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>> eric: get ready to fork ov your cash. here a whammy in the health care law. overeaters and smers will face hefty fines because employers will be allowed to charge 30% more for health insurance if individuals don't meet certain health standards. jonathan you have a big fat problem with this. >> eric, who writes the checks kes the rules. vernment writes the checks, it's not patients or insurance professionals that are going to make these rules. it's going to be gornment bureaucrats, what is healthy and what is unhealthy. it's totally political and aitrary and ineffective. i read the 128 pages of
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rules they are going to force or incentivise you to sit in wellness programs without having scientific proof that they work. course governme will have all yo private informaon, who is fat and who smokes and henchmen are going to be the empyers. they are thenes in charge of enforcing this. it's bad fm start to finish, but so obamacareas well. >> eric: this could really hurt people, asou g older your blood pressure et up,ou'll get fined. >> think it's deeper than at. here a case of the government by virtue of the healthcare law tting into your pvate life and being able to say anything. dictating what kind of food will be served, what kind of things -- it's such a nasty insion of your personal life and diated by a law that is probably 2200ges long with 20,000
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regulatis in it. nobo knows what it is going to cos or what is going to happen. this thing about food, it's outrageous and invasion of personal privacy. >> eric: we do a show "cashin' in" and there is no shortage of information aut this obamacare law. every week there is something popping up that going to cost taxpayers more and employees more. what does it end? >> i think jonathan and wayne have wei ftasies about what is in this bill. it's nothing new. businesses are already doing this anyway. businesses have in place, incentive programs for weness prrams. they have co-pay programs for people that have to add more because they end up costing the system more. we have $2.7 trillion in healthcare expenditures, 50% is because of unhelp th will think lifestyles. >> wait!
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>> let me finishy point. business roundtable supports this legislaon and something that businesses do all thetime. >> that is the point. >> i think you are making the exa point. if a business wanted to charge fines for you being overweight that is up to the corporation or the compy itself. it is not up to big brother government. that is not true. no, government is insist particular. it's coming through obamacare which is therefore the government. >> wrong, wrong. >> incentive and coercion. you are saying that coercion and incentive the same thing a they are not at all. >> can i pointed out to you there is nothing in the healthcare law that coerces any business to do this. >> the whole health care law is coercion.
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>> let's not play this game. there is nothing in these regulations that force any business to do any of incentive programs and many businesses are already doing it. >> letme give jonathan one more word. go ahead. >> the whole health care w is coercion. what is so sad in the free market you have an expansion of the marketed like you have wilferd selling life iurance d selling car insurance who are old and bad driving records. if you had a free pa market of healthcare you would have new professional risk takers and pop up and cover these folks. you have government rules and that costs everyone. >> eric: like i sai we have no shortage of information. i am guessing we'll have more next week. coming up teaching students their constitutional rights is not right. one teacher was scolding
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for doing it. is that fair?
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♪ ♪ . >> eric: our country was built on the constitution, but a public high school teacher is now i trouble for teaching it to his students. e was suspended for a day after telling the kids they had a constitutional right not to answer certain questions on a school survey. >> several ofof the qustions asked the students to self report on what can potenally
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be criminal behavior. do you take alcohol? do you do illegal drugs? do you li or cheat? do you smoke or chew tobacco? >> eric: i saw roadways likewi take the fifth the -- lois lerner take the fifth the other day. but he's saying the kids can do the same? >> he's tryi to tea young people, eric. a recent study showed only 16% of young people actually know anythin abt the constitution, so here you have a high school teacher actually trying to teach them something about what the constitution stands for and he shot down from the get go. what the pubc schools teach sacrifice and submission, case in point is this requirement to asking students to basically self-incriminate themselves by providing this data. i mean, y look in the constitution, you won't find any mention of the public schools. i think the founders understood it was really dangerous to have a -- >> eric: over to tracy. s someone with kids, this is a tough one for us. i want to know what's going on.
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>> exactly. they're minors. i hate to break ito you, you dohave rights at this point. you are breaking the law. and for the teacher to evoke the fifth amendment at a time like this, lok, i'm all about history class. but at this point, these kids are under the protection of t school. we entrust our children to these people president building. i want to know everything. i don't really care. >> eric: hang on. go ahead, julian, break the tie. i'm gusing i know which way you'll go. >> as i alway say, i hate to agree with jonathan on principle here. but jonathan is exactly right. it was a dumb survey. if the school really wanted this information, they would have done an anonymous survey. there are fifth amendment issues re. these answers go into the permanent files for the students and the teacher was absolutely right in giving students this civics lessos. >> eric: wayne, i kind ofgree with tracy on this. kids need some direction. now maybe they should have done it anonymously, i'll agree with that one. >> well, making a kid, giving him direction aand saying you're going to violate the constitution or give you a
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lesson about the constitution are totally different things. i agree with jonathan and julian, all respect to you, sweetheart, i don't agree because i don't think it's appropriate place for a teacher to subststitute himself for the parent. the parent is going to do those thing and the teacher is doing exactly what he should do. >> at the same time, though, eric, defy a kido hell his coach he's not going to take a drug test. you can argue is the same thing. that's a violation of my rights, but i choose to do it. tse kids -- >> drug tests are totally different. >> don't you see where this goes, tracy? the high school junior says yeah, i smoked a couple cigarettes, that goes into the ak government's computer. and five years from now when he applies for obamacare, there i is. >> that's not where ts goes. >> eric: making this a full circle show. we got to leave it there. >> ineed jonathan to encourage children to get a clue.
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>> eric: time for what do i need to know for next week. acy. >> th governmenis expanding theome affordable modification program which was supposed to help people under water. but 36% of the peoplethey helped are back in default. why not three $23 billion back at something that's not work?
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>> eric: more money at that problem. go ahead, wayne. >> well, isaid i've been suspicious of this market and in a choppy market, i look for steady things. biotech, i like very much. xbi. >> eric: not worried about tis rally? >> no. >> eric: jonathan? >> bonds are getting crushed. it fes very much like financial stocks did back in 2007. very weak price performance and everyone kind of scratching their head. tbx goes up with intermediate term trends. i own i it and i think bonds go much lower. rates higher from here. >> eric: tracy, couple of seconds, the vix, cheap right now, no? >> yeah. i don't know ny people that make money trading off the vix. know uncle ben's play book is more moneyey, more money. get in the market. >> eric: more money. that's it for us. thank you for joining us. remember, we wor hard. we pay oaxes. and lawmakers continue cashing our hrd wk. while the obama administration is embroiled in three scandls,
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rememberelections matter. 2014 midter are coming up around the corner. register to vote and make your voice heard. see you on "the five." have a great weekend, [♪...] >> announcer: the following program isrought to you by nopalea, the anti-inflammatory wellness drink by trivita. stay tun to learn how you can receive a 32-ounce bottle of nopalea free. >> a few months ago, i had a hard time walking this hill. but toda i'm doing it pain-free. do i he a secret? you bet. and that's why i'm here today to share that secret with you. >> announcer: could a natural wellness drinkeally help ople with painful symptoms like chronic neck and back pain, swollen joints and muscle aches? or h about even sinus infections, skin disorders respiratory problems and more? on tod's show, the new and natural anti-inflammatory wellness drink that's changing people's lives. then travel to los aeles, california, for an intimate interview witheg

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