tv Cashin In FOX Business January 12, 2014 2:30am-3:01am EST
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federal reserve has essentially done is over the last five years made it very easy for big companies to access capital and very hard for small companies and start up, which those companies are actuay the job creators. >> that's it for "forbes on fox." keep it right here. "cashin' in" is next. mirror, mirror on the wall is obama making america fall. president o. played the blame game. are his policies the reason so many people are struggling? and then, skiing. curling and health care. white house planning an olympic sized obamacare push during the winter games next month. a majority of americans want obamacare repealed. should uncle sam get a gold medal for wasting your money. plus. >> i come out here today to apologize to the people of new jersey. >> a bridge to controversy, the mainstream media wasting no time
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ripping new jersey's republican governor chris christie for traffic be tubles created by his staff. why this has media bias written all over it. "cashin' in," your bridge to freedom starts right now. hi, everyone. welcome to "cashin' in." our crew this week, wayne rogers, michele fields. the commander-in-chief is back fresh off a two week hawaiian vacation. coming back on a taxpayer's dime. first thing he does is wage war on income in uality. >> we have to do more to make sure all americans share in that growth. >> michele. nice two weeks away vacation and now income in equality. that's the big push? >> income in equality is not a disease. it's a symptom. if obama wants to know what the disease is all he has to do is look to his policies because it's his economic policies that are creating more economic inequality. i think it's ironic he's talking
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about inequality after he returned from a $4 million 17 day vacation in hawaii. if we're on the subject of inequality can we talk about why it's fair he goes to hawaii and i can't? that to me is vacation inequality. >> bob you and i didn't go to hawaii. the president and first family was in hawaii enjoying a nice taxpayer vacation. >> any president that hasn't gone on vacation? >> i'm pretty sure -- >> is that the best you got. >> i haven't heard a president come back from vacation, first topic is income in equality gap. >> he's right about that. i don't know how you could poibly deny. it's interesting when income in equality was this desperate as it is now in the late 1800s toledo recession. in 1920s toledo depression. late '90s and early 2000 led to recession and great recession, all was when income in equality
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was at its peak. >> even thou there's income in equality when the rising tide is floating all boats. the left says there's such hatred of success that they say let's tamper that down. think what obama is advocating here. not equality of rights but equality of outcomes. we're all the same. we're not all the sam the only way obama can make us the same is by cutting down the all the poppies, the achievers. steve bob's, bill gat. you don'thelp anybody redistributing to those who haven't produced by taking it from those who have. >> in 1964 when this war upon university started over the years, ithe 50 years since that war begun or we began a war in poverty, poverty level hasn't
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budgeted. it started 15% or 16%. here we a $15 trillion later and guess what? it's still 15%. >> well, it's not only that, eric. the president has been there for five years and the unemployment rate is still 6.7%. in other words none of these policies worked. all of this keynesian theory if we put money back into the economy on behalf of the federal government will help everybody is trash. nobody has read milton freeman or hyatt. these are people who are ignorant for the most part about economic theory. so as a consequence they buy into this and like the president has done and the results are sastrous. of course it's going to be inequality. have a degree in rocket science and think you're going to have the same equality level as a guy who has nev gone to school. >> that's not what he's asking
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for. the difference between the person who works on the factory floor a and the ceos used to be about 60-1 now it's about 801. most of the money goes the haves of this country. i know you can't help yourself, i know you have a problem about being silent but give me one second and i'llhut up. the fact of the matter all this wealth is being concentrated in the hands of very wealthy people. it's not circulating in the economy. it's in bonds and stocks. >> it's not inequality. >> let me respond. bonds and stocks for one thing are part of economy. when the rich earn money they invest in the economy to create jobs. >> where? >> if the ceo is making $700 million someone is paying their salary and in a free economy shareholders, someone is actually paying that salary. if the government is not paying it, it's being earned in a fee market and that's what you and
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the president are against. >> tell me how stocks and bonds are helping the economy. >> they are, bob. as money is earned, even i it's earned by the wealthy it's reinvested in the form of new products. >> stocks, bonds? mortgage backed securities? all those great things doesn't circulate the economy at all. >> tha's how the free market work. as you earn more money you expand your business. >> go ahea >> look, i think what we ought to be doing is reducing the entrepreneurs because then they will open new businesses and expand existing ones and create jobs. we need to expand more turns. it's not a problem with inequality there's a problem with growth and not enough jobs. >> regulations onbig banks? >> something happened this week that's very interesting. president obama announced a proposal, he wants to create five promise zones across the country. we have a map of them. here's tissue.
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he will lower tax, reduce regulatory burdens. if that works in five promise zones why wouldn't that work for the whole country >> america is supposed to be the promise zone. obama should be focusing on equality of freedom not economy. >> wayne, what about it? how about makingmerica a promise zone? >> well, touqueville wrote americans are nor enamored of freedom than equality. everybody doesn't have to be equal. why do we have this persistent that everybody has to be equal. it destroys everybody to do anything else. >> fit works in five zones lowering taxes, lower regulation
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and that's supposed to stimulate economic activity, listen i got news. i'll be his economic adviser and say president oba let's do it for everybody. >> let me say jonathan wallowing in misery, breaks my heart. i have a crying towel. the point isere that if you get -- when you talk about what the president taed about in his omise zones the only way you'll attract businesses in is to do that thing. >> you just said the most important thing, the only way -- >> he's make urge point for your. >> is by doing these things, lowering the taxes. why not making the federal income the corporate business rate lower? it's 35%, make it 15%. >> why? >> your own argunt. >> no. my argument is talking about places with unemployment rates up to 25%. you want to do it here in new york. >> do it every where.
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>> how about goldman sachs have no regulations. >> go ahead, michele. >> all bob wants to do is soak the rich of their money. what we should be doing is reducing taxes for everyone, reduce the regulatory burden. it's not about stealing from the rich and redistributing it. >> think about it in basketball terms. if you want everybody equal in a basketball league, cut off lebron james legs, take the achievers and brings everybody down to everybody levels. 's a war not just on the wealthy but on the most productive. >> basketball game becomes less interesting to watch. wayne one last word. >> i was going to say bob's credit, he talked earlier about the banks. the banking system as we kw is concentrated wealth and practically five banks control mo of the banks in the united states. that's not the problem that was
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created. that was created by congress and president himself. they allow this to happen. that's why these things happen because people allowed them to happen instead of fighting against it and fighting for individual rights. >> we have to leave it. good discussion. coming up going for the gold, now team usa but team
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break out the bobsled, obamacare is heading to the olympics this week. the ama administration announcing plans to run tv ads during the winter games encouraging people to quote enroll and get covered. they haven't released how much the ads will cost but annual spending to plot the health care law is estimated at $684 milln. jonathan, money well spent? >> well when the government advertising for the military, eric that'sokay. that's moral because the military is actually a constitutional part of government. but the government advertising for obamare ispropaganda. it's using taxpayer money to try to promote more gornment force and convince people your loss of freedom is okay. that's a normal fact of life. it's not and should be stopped. >> more than half of americans think the obamacare law should be repealed but we'll spend h many millions of dollars to advertise at the olympics.
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>> why should government be spending any money to advertise any law? that's insaty. should they advertise laws oh, by the way there's a stop sign on the corner everybody should stop. they are spending taxpayer money to do this? this is insanity. i can't believe they wouldo this. when you are saying they are spending known advertise a law that congress has passed, it doesn't make any sense at all. jonathan is right. >> bob, how could can it be if they have to advertise. >> i wonder if wayne's makeup artist had that view as well. i'm curious. sorry, wayne, i had to get that in. look, the reality is -- >> i didn't hear you so it doesn't matter. >> it was a shot bath pleasant shot. when you have 40 million you're trying to get to that's a lot of people. it's unprecedented. course they should advertise. >> you seem very serious. >> it's a waste of money.
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>> can we roll the video, bob partaking in some olympic activities. take a look. you want to give us a play-by-play. >> that was me going down the luge. scarie day of my life since i quit drugs and alcohol. >> it's a complete waste of money. they shouldn't have to advertise it. why not get health care reform that people actually like. look, the olympics is such an amazing moment for americans, you know, they feel so much patriotism for their country. why does obama got to go and ruin us and show us a commercial for obamacare reminding us we have obamacare. that's a buzz kill. >> can you imagine downhill skiing, you get the guy, the pajama boy in the esie. can we show the full screen. look wha we put together. in the meantime, while we do
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this. >> when mcdonald's buys an ad they do with it private money to promote a product that you have a choice in buying but to wayne's point we're forced to partipate in obamacare to begin with. i think to michele's points it's even more embarrassing these ads are running during the olympics because it's showcasing to the world what a totalitarian place we were becoming. your life used to be your own. >> as opposed to coors light or dedeodorant? >> it's private money. bob, if you want to compete in the olympics that's fine. i just wish competitive eating was actually an olympic sport. >> wayne, you want to get in? >> ouch! >> just as an aside in 1988 i made a movie f for paramount abt
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the olympics and i went down the luge and it's scary. bob would not weigh 50 pounds if he went down the real run, believe me. >> you went down a real run? >> we're going to get a video of that. coming up a traffic jam gone wi? the mainstream media having a field day with the controversy surrounding new jersey's republican governor chris christie. a bridge is a bignd much more co
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join us. a media frenzy over the chris christie bridge controversy. >> calls at this hour for defense to step in. >> firestorm brewing around new jersey governor chris christie. the focus is the george washington bridge. >> a traffic jam derail his white house hopes? >> scandal surrounding the new jersey governor, chris christie. >> president obama and his former secretary of state hillary clinn in the hot seat over the foreign policy flap this week. apparently the mainstream media thinks the traffic jam is more important. bob, double standard here or what? >> no. because i don't think that the flap that you talk about is such a big deal. the gates book. leaving that aside, you know anything about christie, in his press conference, give him credit forhat. the fact of the matter is. if you're the chief executive of the state where the most important artery is backed up and a lot of complaints coming in and the only people he asks about it are his staff, used to prosecute bad politicians. he didn't take their word for it. >> christie did a good job
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defusing the animosity and what was going on.assuming, assumin lying about any of it. if tre's one name with chris christie copied on, one e-mail, one memo, it's going to be big trouble. your thoughts on the media's treatment of chris christie. let's say bghazi where there are four dead americans versus four-hour traffic jams. >> they've spent more time on it. we know the press is prejudicially democratic. they'll attack christie in any case. they let hillary off the hook in benghazi, on file gate. they let her off the hook in whitewater. this is a lying, cheating woman who has more ambition to be the president of the united states than anything else. as a consequence of the press who is sucked in bythis, by their own blindness, you know, is sucked in by this is going to make a big thing about him and the traffic which has nothing to do with how -- by e way, they
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knocd rumsfeld for -- when he was secretary defense. he went down to the congress and said, i take responsibility for abu ghraib. because i'm the secretary of defense. >> john and michelle,very quickly. michelle, you're on deck. >> for one thing, this never happened had the roads been privatized which we've been talking about for a long time. i think christie's scandal is potentially criminal as with all the democratic scandals. i think the reason for the double standard in the media is that obama is seen as an all truist. he's sacrificing for student loa loans. >> michelle? >> double standard, absolutely. the top networks have dedicated 17 times more coverage to this than they did the last -- the past six months on the irs scandal. let me just say, christie came out and fired the woman. obama, he didn't even fire lois lerner. he allowed her to go on paid leave. >> you're 100% right, michelle.
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going to do very well. >> john, yours quick? >>'m building a position in base metals like nickel. nini is an exchange traded note tied to nickel price is. i like it at these levels. >> very good. that's it for the cost of freedom block. thanks for joining us. before we go, last week senator randpaul, a good friend of this program announced he was suing president obama over his nsa policies that prompted representative peter king to say this. >> we listen to rand paul and follow his policies, americans could die. maybe it wouldn't bother him. i don't know. >> we tried to get representative king on cashin' in to talk about the outrageous remarks. all week he dodged uand made excuses. we think mr. king owes senator rand paul an apology. representative king, we extend an open invite to you to join us at your convenience. in the meantime,i'm giving you a homework assignment. i'm sending a copy of the
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constitution and i'll underline the fourth amendmentment. like cliff notes for dummies. neil: all right, gentlemen, thank you so much. >> the next grtest generation or a great pain in the butt. kennedy: captivating the culture like a polarizing comment. to the point of uselessness. these whippersnappers are using technology and drive. and i'm not going to speculate, but we can talk about it here on the millennial edition of "the independents." kennedy:
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