neil: this just in, i just saw pigs flying, i just saw something i never thought i would, president obama wants to cu cut corporate taxes, and further, he thinks it is going to create a windfall. i am neil cavuto, and ronald reagan he is not, but -- he is figuring tax cuts generate revenue. well kind of, because to make sure he is couplpling rate cuts with what he calls one time hits on overseas earnings and slowing rates, such measures don't come

close to playing the new jobs and other domestic new jobs that he is pushing. i say, what the buck? is it the same barack obama who railed against corporate tax breaks any of sort. well, i'm take it. but first, since we talk about ronald reagan, may i suggestion we verify this president wants to spend that money before it comes in, nothing new there. we go slow from here, but a start, i president who sees wisdom of cutting taxes, for now, i say, here, here, enter my friend patrick buchanan who says not so fas >> i knew ronald reagan, he was a friend of mine, and president obama is no renald reagan. neil touche. >>ou are right, if barack obama believes as he said, that

cutting corporate taxes really will increase revenue, it will make us more competitive. and it will create jobs, why don't you just go ahead and do it with the republican. i'm sure they would go along. he puts in here this spending increa, which he knows very well he is not going to get. and then he goes upside republican's head and said they are guilty of distractions and feing on phony 6 scandals. i d not understand what message he is trying to sen because they are in conflict. neil: when push has come to shove. when recovery was looking dicey. he seemed to recognize that there are times you don't entertain doing that, he changed his mindn upper income. but he seems to see the wi wisd,

partlly, of cutting taxes for corporation. >> i think he does see the benefit. and also, his economy advisors tell him, we have corporate income tes rate 35%, which is number one or numberwo in the civilized world. it means a lot of companies don't like to come from overseas, and locate here. so why don't we cut them, and maybe we would be more competitive just like for example in tennessee. just like foreigner bring nissan and volkswagen plant to tennessee rather than illinois. i think he does get it. but ideology holds him back, he has to give nancy pelosi and reid, something hehinks for a big deal, therefore he gets no deal. neil: i think it will be hard t get a dial out of this, and i also think this headlines don't tell the whole story.

a lot of those companies could pay me taxes than now, but leaving that aside, this is an open svo to republicans, what do thesay or do some response? >> i think that republicans should say, you know mr. president, you have good ideas on taxes, on corporate tax rate, it needs too be reformed, we need klauer corporate tax -- need lower corporate tax rate, and we agree it would create jobs if we disree on spending why not get together and work on corporate income tax reform that you are talking about, and maybe we can getting itnd get something done. -- get together and get something done, like the immigration bill, why not, if they agree we have to have border security they have a good agreement, pass that, and put amnesty off for another time. then you can get something and obama would get something, this the republins would get somebody. but he puts u these deals and

gives you a poison pill, and republicans say we will not take . neil: they are in lagy heads here -- loggerheads here. >> i think it is what he think ising, he has some economists. when i came to journal eu678 in 196ism in 1962,aak kennedy, taxd he will increase revenues. i got my editorial, saying he is right. he cut the top tax rate from 92 to 70s, and it got through under johnson it was beneficial. neil: true. >> democra believed in these things. neil: i replayed that speech he gave froo oval office on that issue. and a lot of people cannot believe it they thought we were lip-synching it. >> i was around then, i'm like you. neil: i do not realize how old you are.

i'm kidding. no matter what hat says, to hr much of media tell us, the grand bargain is on. and price our o pressure on repo put game on to accept the cutss@ they wanted or look like hycrites. it is interesting, the way i saw this portrayed bnt to your point. just like what are the repuicans going to do? >> well, i can't add to it. what pat said, but for, number one. the media are going to play this as some grand concession on the part of barack obama. in fact, barack obama ran for reelection on this. ly promised a cut in the corporate tax rate. do we not remember that? he did not say, i'll cut corporate tax rates in rurn

for xyz, so, there is no need to make a bargain. pat is right, if you believe it, promised it do it do not make deals. this is not a job creator, this is a net tax increase on businesses, jobs will not be created, they will b created by the government, someone needs to ask the question, which is, done we already try this? we'll call it the stimulus, how did that work out for you. here is one i like, a bargain, announced as a bargain, if we reach a bargain we have reached an agrment. whether a bargain i announced. there is no bargain, there is no agreement. they are projecting this as an agreement so if republicans say no it looks like they walked away from aell they made. this is not t first time they have done it remember religious

mandate, catholic crch said no, so obama administration reviewed it and said we had reached an accommodation, and catholic church said that is interesting but we did not agree to anything. that fine, let them do it. neil media says -- you hit nail on head again. that the media then accept its and from the word that -- the president's word he has been the game changer, offering something he can say or will say, is mething that republicans already wanted and hean go to media and say i tried. nothing worked. that will be his strategy going forward. that i offered them you kno an olive branch they stock it back in my eye. neileye. >> he said, that "fast and furious" is a phony scandal, and an american border agent died, and ben been is a phony sndal, and 4 americans died, and no one in press calls him out on that?

this is reprehensible. neil: brent amazing good to have you back. >> all right remember that job yo applied for but you never got. what if told you because the what if told you because the guy interviewin [ male announcer ] these days, a small business can save by sharing. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this wkend? no. [ male announcer ] share more. save more.

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but hurry, offers end july 31st. neil: i thought you killed it in the job interview. you stayed positive, and stayed alert, you left office thinking you had that job in the bag. ly to discover you were bad. courtesy of an f file that interviewer had on you, that had it all wrong. it is happening more than you think. fbi dataa fraught with errors and rarely updated. to the judge. what do you think? >> i'm livid, we have reached a stage in our society, congress authorized fbi is sell its services to pvate entities, and so for a large category of nonfederal jobs, state, local,

and many private, congress permits those industriis to go to f for background safes, that is problem numbe one, constitutiostitution does n aute le of federal services. when fbi does this, it often makes miske, because of the magnitude of job involved. when you or i make a mistake and somebody suffers for it, we can be sued. but not the fbi, if they look at wrong database, and you don't get aob becausef that, can you sue the fbi? no. you could sue tha person unless theyork for the federal government. neil: i see. >> then you can't sue them. neil: with lar on dated bad info. >> yes. if i was going to hire you a you rejected me because of later on dated or inact rat inaccurac,

and a lost income because of that, i can sue you, but not from the fbi. we're not talking about wronully arresting somebody, we're talng about relying on dated or inaccuracies information. and in fairness to the fbi agencies some are my friends, they don't like doing this. >> what d they rely on that is wrong. if y had charges brought up against you but later exonerated they mig have just charges. >> correct, if you have chaes brought up against you, and you were exonerated and the judg expunged record. and so you will say under oath i was never charged for the crime. and potential employer will say, i have a record from fbi that

said you were charged. and therefore i am going t fire you because you lied to m neil: i wonder when people are turned down for job, how much is based on fauy credit report information faulty fbi report information, and they never know, they just know they done get the job. >> i on't think the answer is knowable. neil: but you know everything. >> there little litigation over this, the potential employee. >> you will nev say you g of a fbi report. >> correct, and the person who did not get the job will never know why. in the rare case when there is litigation, and you are forced under oath to answer questions, you will say what happened. i have been subject of fbi investigations. neil: why am i not surpris?

to be appoied to the bench that is type of investigation that to bfbi is familiar with,. neil: did you get to see what they had on y >> i did. but massive numbers of investigations they don't like doing, it is a buck in pocket of their bosses paid for by company that hired fbi to do it, mistakes gal or. neil: interesting, you did make to judge. >> saw that report, i s still got the gig. neil: best selling author, ub aruber lawyer, judge et al judge napolitano.

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neil: well not a bad deal if you can get it, alex rodriguez stands to make a killing even if baseball fires him, and suspends him, how about $60 million to makhim go away. here to make sense. sport agent executive jam, a cool name. explain how that works, if you are getting thrown out for you know, using steroids or whatever. you still collect 60 million. >> you start with fact that these contracts are almost 100% guarante with limited exception, one is using illegal drugs, high would be suspended, then come back and collect remainder of his contract. neil: his contract with yankies would allow him to come back then, what if yanes don't want

you back. >> they don haveatitude to do that, only the commissioner does. neil: one way or other he will get a lot of money, he will get it. >> unless they fireim, an suss suspend him for during a of the contract. neil: elis ha selig has a fusir option, you challenge me, i will ban you for life. >> he is reportedly doing is using integrity of game clause in clective bargaining agreement. if you do anything to undermine the integrity of the sport, he can say you are fired. in which case a-rod would not collect a penny. neil: i always believe that eryone has a chance to fight a charge, this is whether you assume he is guilty or not, he

is not given an opportunity to challenge. he is just, dead meat. >> like in a lot of sports, if commissioner, they have rights, sometimes absolute. @% if they fire you, can challenge that in federal court. butith respect to major league baseball yr rights end if you undermine the integrity of the sport. neil: that would assume in this case, a-rod admits use of the drs? >> not necessarily, commissioner casay, have you not admitted. but i think you do it. neil: is that fair? i know what you are saying, it does not strike me as fair. >> it is not. neil: okay i'm saying he has nod admittedo using the substances and baseball commissioner saying, i justnow you used them, and your heineys fried for life. >> he will sayere is the evidence we have ainst you, here is my decision, you are fired, what alex rodriguez does

he americans off to federal court and -- he marches off to federal court and challenges it. >> how up hill battle is that? >> it has been done, some won. neil: how do o you think it will work out? most comn scenario i see,s that. you know, he is out for next year and a half, gets a chance to come barkollects tens of millions life is good. >> i think that how it playsous, i think that commissioner will use leverage of lifetime ban to get him to capitule, this year and next, and alex rodriguez will comeback and collect the remainder of his contract. neil: if you are yankees and you agree to this ban, you say, we don't have to pay, because,his is really egregious. >> yankees do not have that latitude. neil: are conttacts written in a

way even if you admit to or accept a ban you the team still have to pay, said drug user? >> once you come back from suspension, absolutely. if he comes back, he has 3 years remaining on his contract, yankees are still cob gate obli. neil: even though they would not want him back. >> absolutely not, he is a 40-year-old player, a has been deteriorating. neil: you remember when he would be next home run king, what happened? >> age, and reportedly, the ill effects of steroids. neil: wow. >> you take a risk. neil: what do you tell your own clients these days? >> you make sure they understd number one t the rules and the risks in terms of take illegal drugs, players think that risk is worth taking because contracts are guaranteed. but you have to explain, times

are changes, prove of league is change -- the perspective of the league is changin you have to remember that. neil: thank you, biel see ho wew it works out tomorrow. >> health care surprise alert, will be a dai feature, a big one that will have you wants to ♪ if youave high cholesterol, here's some iormation that may be worth loong into. in a clinical trial versus lipitor, crestor got more high-risk patients' bad cholesterol to a goal of under 100. getting to goal is important, especially if you have high cholesterol plus any of these risk factors because you could be at creased ri for plaque buildup in your arteries over time. and that's why when diet and exercise alone aren't enough to lower cholestel i prescribe crestor. [ female announr ] crestor is not right for everyone.

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neil: can we see that again? a new graphic, health care law, escalating laws are a big deal when they warn their own -- warn warrant their own independent fox news alerts. commissioner, one word, yikes. >> when you have guarantee issue, and eliminate under writes and increase benefits, you will see increased costs 92 this.neil: this goes beyond, whs going on? >> there is an increasing cost all of the time with increasing

utilization. but now is with the new policies that are issued under the affordable care act there will be 30 to 40% rate increases for indiduals, for small businesses that is 5 to 20%. neil: we were toldo be patient, this levels out. when it is up andunning the premium increases will reverse, stabilize, life will be good, take a chill pill, what do you think? >> that is a big assumption. there are a lot of unknown i think it is clear whether you see increase benefits, and you eliminate underwriting and tell people, regardless of preexistingonditions they will be ga guaranteed healthcare poly that will be disruptive to marketplace, that is what we're seeing. neil: why is that a surprise? i remember covering this whole

saga on capitol hill, if you promise the sun, moon and the stars, cerage for preexisting conditions, gets your kids on the policy until a are 80 years old or whatever it is. if is naturally to know that premiums will have to come up. why was it denied? why is the obvious refuted ? >> i think part of the assumptions made is that younger people would get into the risk pool, with youngins vicinityibles getting in -- invincibles getting in they would not utilize medical services that would balance it out. neil: but they are not doing it. >> it remains to be seen, what haens january 1st, and how many of young invincibles buy the insurance policies. neil: lot don't' it, unless in force of lock and key, they are

not doing to do it, what do you envision? >> you know, that is again, great unknown, if people do not buy that coverage, it will cause a ris in insurance rates for everyone. and it will be hard for system to be sustainable. neil: thank you commissioner. meanwhile david malpass said this is where americans are -- the heahcare law. it has everything to to with average americans seeing their health care premiums skyrocketing and getting squat for it. this is justates wrinkle revealing itself. you predict many more? >> hi, neil, we're just beginning to see now the cost of the psident's delay in employer mandate, cbo out this afrnoon, one thing is that bill, was gigantic, thousands of

pages, largely of gibberish,s the impmentatioation occurs peoe assess the cost, most goes io washington. you said you could have bought a conto meniucondominium there ite gone up in value. neil: they don't come on to talk about it, d you get a sense they make sense when they say young people will sign up for the system. the gerth of everyone in together amortizes cost. >> no, they do this over, over, creating a big com complex piecf legislation, saying don't worry about it, that is same going on with dodd-frank.

financial services regulation bill that has grown into a huge -- that costly, when they wrote it, they said it won't cost much 992. neil: david maybe they are more cleaver than we think -- clever than we think, they wanted to push at the ti they were pushing this that became law, this idea single pay system they dropped with their hope being that would happen, what you are outlining, that is where we might go. >> >> some people may have recognized that as strategy. but i think you are giving them tto much credit. i think it is chaos going on in drafting process, remembered onty o obama carryill was add machine tration did not lay down a proposal they waited for came out of nancy pelosi out of the ways and means committee. that is not the way to make decent legislation, it has thousands of quirks, each

congressman has several legislative assistance working in the areas, all sticking in their preferred provision. neil: what do republicans do. they say cripple it, and defund it. but others sayt is the law of the land. what do you think? >> i think people have to make a clear pushack to the president. say we want you to lead. you are the president, you have to state your priority on immigration reform, your priority 92 on health care thing? same there. mr. president this law does not work. it has to be fixed. the proposal has to come from hi he sign -- >> when he said be patient, it is rolling into place, you can't whine aut something that is not fully rolled in. >> they did on this employer mandate was the ainistration is not following the law. and so that causes legal chaos

in the country, if you have president where law is clear. er mandate to start january 1st, president has said, i'm not going to do that, it may be the law but i'm not going to do that, that is in the a recipe for any solution. ball is in president's court to say look that is not what the law said 92 david malpass if you. >> all this time i tho that stupid google glasses were sometime for watching movies, who knew they could be used for making movies.

neil: twitter teasing, homer simpson snoring and say saudi

prince whining, to blitzing, item one is twitter, one step closer to an ipo. you have to wonder. a person who would be responsible for filing company's perspective. wehink that twitt might have a plan. >> a calculated hint from a company that insists we're not thinking about it. but you put in a job description to file an s-1, twitter val, is to be -- do not go publi publiccalla facebook leave yourself some room to grow. neil: i thinkhat dennis is right, they got way too greedy at facebook, they are still paying price. this is a smart company, their

ipo will be next, by then we'll have forgot en about facebook ipo. neil:acebook is closing back in on that ipo price. >> it h been a long time. this is a consumer company, they always take o, facebook was the exception, it has tomorrow to -- potential to run away. >> if you bought facebook at open, stop your whining and hold it long-term they will earn it out, we coul have bought it atcho22 a share. neil: geeky goin google glassesd be the movieaking app rate us of tomorrow. they are enlisting students from 5 colleges to make movies.

>> i think this is so stupid. i am sorry. no. self reporting filmmaker will -- make a movie to release in theaters, by using google glass. average american is on camera, 16 to 20 times every day in this country, stop worrying about ago. worrying google glass, and the thought of now we're on tours, so air began the. neil: we might be old enough to remember blair witch project, that is -- you know video camera,hat cheapened whole look but at the time it was cult evolving. who is to say the glasses can't do it. >> itould be great for a lot ofr rio de janeiroality tv -- fr reality tv this shores up, this is a product in search of a

market, it is cool, maybe some day they will put a chip in our head with this technology. but i don't think that people lly appreciate it at this pot. neil: just a doubter. >> i feel like, you know there was a lipick cam, in u.s. football league, why is google glass special. neil: you are hating. issue 3, google glass m be dicey but homer simpson is not, if folks at fox are right, "the simpsons" could fetch as much as a billion bucks in a cable send syndication deal, that would rival "seinfeld" which is true. aal? a homer run. >> it seems like a lot for a catune but -- cartoon, but

programming that we've seen, in last 5, 10 years has not been that good. the satire is funny, who knows maybe, it seems rich, i don't think that you know mr. byrnes at nuclear powerplant has nose numbers. neil: 25 years of history. >> this is 500 episodes over 25 years. now big question for 21 century fox, our new parent company, we're having just spun off by news corp or rever, will we dare sell it to outsiders or our sibling channel fx . that does not bridge in new money, that is bringing in money from be on pocket to the other. >> you say we would do something that looks on surface shady. >> every god corporate

accounting -- every good cp at corporate account department. neil: now. saudi prince, worried about fracking thing, said our newfound fracking technology have made this country more energy independent, which means we needless oil from his country, the prince is worried. >> maybe he should be ore happy thatur own president has concerns about this? >> he is a big investor in u.s. companies, i believe a big holder in citigroup. u.s. companies do better if u.s. is less dependenta saudi arabia and others. neil: what d you make of that? >> we'll burn every drop of that saudi oil, it is just a matter of what price, i don't care how much gas we find here, we're

still going to need and use that oil. he should be worriedbout tapering, he practically owned citigroup, whats e going to do when they can't sell their mortgage backed security to the fed. that is what he oughto be whining about. neil: now get ready for bigger payments to farmers who long ago bought the farm. see whether you reap.

neil: 30 million bucks to dead farmers that is how much a agency watchdog said they are paying out to farmer who are no

longer plowing the field, how does this happen, dan? >> neil, i can't look add three agencies, under department offing fing a agriculture that prove assistance to farmers, two did not have a procedures in place or a system to identify if payments were going to deceased individuals. neil: now, there was another agcy i think connected to maybe farm assistancerogram, where they did have a better job of trying to police this after the fact they recouped about a third of money. why is it so inconsistent? >> well, the wectually reported on that agency, farm service agent in 2007 we have recommendations if at are agency to make improvements to how they over see the progr. in particular, doing data matching.

identify potential deceased farmers that receive payments, so, they in sense got a head start, and made changes in ogram. this year, whether for our newly issued report, we added 2 other agents under usda, and found they made the same progress. >> can understand the way that bureaucracies work. but you know, you hear of y know, drug prescription written to the patients who had long died by doctors who had long since died. but there was an effort made to get that money back, but it is easier said than done, right? >> it is a challenge to -- 1 have you offered the deceased farmers, i agency has to reach out, and do due diligence to determine whether the payment wa proper. and then once they make that

determination, then they need to follow-up and see if they could recover the funds, about a third of the dollar that one of agent identified has been recovered. and they are working on, that but it is a difficult matter, 1 the payment are out the door. neil: what if a spouse or child said diseases farmer carbs that check, if ty committed a crime in. >> they are held liable, if it did determined that payment was improper the funs have to be returned back. neil: wow. dan thank you. we appreciate it. >> dan garcia. >> all rig, think anthony weiner is the most di despicable politic is alive, this guy one upped him, mayor touchy and feely, very costly. [ male announcer ] the mercedes-benz summer event is here.

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>> i was placed in a filner head lock, and moved around as a rag dog while he whispered sexual comments in my ear. neil: that is nothing. wait until you hear what filner is whiering in san diego taxpayer ears? not forgive me, but more like, pay for me. the decision whether it will ever come to pass, become tonight. there is precedent for city council helping pay legal bil of beleaguered or targete litians on a host of lesser matters, tohis matter. jedediah? >> can you think od -- odded on.

he is sehow transferring that responsibility to taxpayers, saying, you know you are now responsible for defending me, you are responsible for getting me out of this he i dug myself into. he is a disgrace, he should resign, and people of san diego will side with me. >> i think that ity of san diego on the hook for his behavior? he harassed women, they will sioux citsuethe city of san die. he is a creep f eposing taxpayers. for his behavior. you know. neil: argument, late today that those harassed say, if you dare city council, pay his legal bills we'll see youor that. i am just cutting to gest of

this, to julie a point, turning into a huge debacle. >> it is, but, in terms of paying his bills, you have 7 of 9 council me councilmembers wanf office. i think that they will decline the request. neil: how muc how much -- he isg into a therapy class. he goes to two weeks. does this,oes that absol him? >> should we pay there are that as well? where do you draw the line? it does not absolve him, you hold public office, you hold a responsibility. neil: you hold politicians to a higher standard. >i do. neil: there is a lguage history. >> that -- long history.

>> that is their problem, and theyhould rign. neil: a lot would be o of office. so americans heroes from thomas jefferson, a knedy. >> that would leave room for the fresh blood i have been pying for, for a long time. neil: jefferson? >> absolutely. neil: what do you think? >> you should hold ceo of goldm sachs to same sta standard of ceo of san diego. >> it is public offers though. >> i don't care. neil: what don't you care about? >> if you violate the law, sexual harassment is, i i don't know car if you are in a management positn in managed or mayor of san diego? >> you don't put politicians to a slightly higher standard? >> i just' tse to do a good

job, stay within the law. i am asking them to did a good job, if they cheat on their wives i do know care. but -- >> you know age old argument. god knows who else you will cheat on? >> we would not have a thomas jefferson, or a fdr or jfk, and a bunch of very good presidents in my view or bill clinton for thatatter,. neil: what do you make of that argument? it has raised other arguments, and one thing that. anthony wean ar weiner said we'd on. >> it up to voters in san diego case, the voter overwhelming' him to resign, you see in new york with weiner. neil: in past they elected him? >> well, that is true. but you know once it comes out 92 a time when nixon won a landslide reect in months, was vilified and they wanted him

out, they had to wait a coue years, when it is apop rate to say tata . >> when facts come out, they are stilloming out in san diego, they have come out in new york, the public can make up their mind it's time to go when you have done these kind of terrible beavior in san diego they are illegal. >> it is when there is a repeated pattern of decepon. a lot ofeople look at weiner, he came out and apologized were willing to forgive him. >> do you think that was' special level of creepiness. >> yes. neil: any time you you know, take pictures of your private and send them to people, on a certain level that is just gets weird. >> i could not vote for him even after round one, but i think many people could have, but with a repeated pattern, repeated lie. neil: a scial class of itself. you know? >> you know, the young lady in

question, went on howard stern said he is so busy doing certain things he would not have time to be mayor, i think she is right. this is a guy who is obsessed and has an issue that prevents him from doing anything other than -- >> john kennedy was a horn d, how he got disabled to dial with the crisis, he dealt with the cuban missile crisis but he had a very -- should it matter? >> it. look, a big difference with weiner after lying to voters,. neil: weiner is no kennedy. >> my problem 92 on number one problem, i thought he was a bad congressman. neil: tre is that. >>s that is why i would not have voted for him. neil: he comes at a time, right, left, they happen in way here

that it --t is hitting basic trust issues in our government, leaders, is it justifies ? >> they do ce in waive --n waves, people hear the story, more people come forward, this behavior is wrong, politicians live in a different world now, 24 hours news,witter, they are held to different standard wld today is different from the world that jfk governed. neil: they all med on. spitzer will win. right, but would you -- you accept a certain level of sponsibility. you know your lifes public. you cannot handel that responsibility, don't run for publicffice. you open baembarras yoursel neil: tv anchors, okay? >> my probl is what he is doing to his wife and son. neil: a good point.

but, tv anchor thing, okay. all right, i want to thank you all very much, we'll keep following this. we will get word on bendable paint. david: i bet they want the corporate tax rate to go lower. melissa: i'm melissa francis and here is what is "money" tonight. it may be the biggest energy game-changerhrough fracking you probably have never heard of it. it is buried in the bottom of the ocean with more energy than anything on the planet. we'll tell you all about in just seconds. plus, who calls the financial shots in your house? oh, you think you do? your spouse probably thinks otherwise. a new study says that the divide between couples is wider than the grand canyon. weave details on how the power of money is impacting marriages anywhere. "who made money today?" ere are not anyoadblocks in their way to make profit. t sure who it is. stay tuned to find