tv Cashin In FOX Business February 2, 2014 2:30am-3:01am EST
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money this year, atml. >> one word that you need to know about this, dramamine. >> have a great super bowl weekend. it's the super show ahead of the super bowl. we're in the heart of capitalism. super bowl boulevard in new york's times square where everything is a free market but the president suggesting we raise taxes on america ds o's o industry. one of our biggest job creators. plus, as the pros gear up, big labor looking to unionize football players. fair game or just another money grab? and check this out, the white house has fumbled big time. the president said this. >> it is time to do away with workplace politics. but how does president score
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with the gender gaps? senator rand paul revealing a little wte house hypocrisy. "cashin' in" starts right now. >> hi, everyone. welcome to "cashin' in." i'm eric bolling. senator rand paul is going to join us in a moment but, first, it's the big buzz before the game tomorrow. the president ging mixed messages in his state of the union address. he said ths. >> the smarter tax picy that stops giving $4 billion a year to fossil fuel industries that don't need it so we can invest more in the fuels of the future that do. >> michelle, why would the president go after the industry that employs millions of americans and is creating jobs? >> it doesn't make sense. he says he's in favor of trying
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to combat income inequality. well, how about working to facilitate energy production in this country rather than, i don't know, trying to kill it? because that's what he is trying to do. a lot of things he bragged about in his address wouldn't have been possible without the tax breaks that gives incentives for small oil companies. so what he's proposing is actually going to hu the economy. it's not going to help. >> so john, john, he proposes lifting $4 billion in tax incentives to the oil companies. that's, in effect, raising taxes on them, is it not? >> eric, let's define our terms here. tax break simply means letting individuals keepore of their mone money that they earned. i don't know what the president is talking about here. he doesn't giv $4 billion to the fossil fuel industry. it's theirs. they earned it. they are part of the productivity, the energy that powers this country. the president is against people keeping their own money. it's all for tax subsidies all
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in the green energy industry, all of which has produced nothing since the president took office. >> and congressman, isn't it a fact, though, that they do it more effectively and profit at it but when you try and do it through the government, let's talk about beacon energy, all of these initiatives that president obama threw a ton of taxpayer money at has failed. why should we let the free market do this rather than government? >> actually, t free market is doing it. leading corporations are already incorporating carbon pricing into their long-term financial forecast. the market already understands that there's a transition going around away from carbon-based and nuclear-based economies and they arerying to get ready to ride that next wave. so capitalism does work in this case and the government,
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frankly, is behind the curve. >> andhe way it sounded like to me, big oil, oil companies, carbon companies are bad. carbon producers are bad. meanwhile, the solar industries and those are good so we should be funneling -- what is behind this? cheap oil built all of this. capitalism works and has thrived on cheap oil. >> we have to do what is best for america. and that may the implication of environment, theeconomy, and also our national security. but we have to be mindful that oil companies have -- >> congressman -- >> yes. >> but none teless, this is taxpayer money we're talking about. for me, i want to see it going towards things that produce profits like what we see going on behind me. well, i think you have two separate subjects here. one is whether or not -- whether
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e tax policy is correct or not and that's a separate subject from whether or not we're diverting, you know, resources towards things that are not productive and you say that when we think about all of the money that's been spen on solar power and all of these alternative uses that has not worked it so far and may not work. we don't know. but the fact that you're taking away tax money instead of allowing tax money is a separate subject. and as far as the oil and gas industry goes, we are pro us doing an enormous amount of oil and gas from fracking and those other areas and this is -- it's really a national security issue. we're weaning ourselves off of middle eastern oil. >> i want to put up a full screen,michelle. you can talk to this right now. under president obama -- president obama is very quick to say, look, america is becoming more energy self-sufficient but compare apples to apples here. this is the fourth year of
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george bush's term on the left. 6,052 permits were given out. the fourth year under president obama's term, 4,256. 30% drop in permitting. so on federal lands, according to the feds, president obama is less friendly to the oil industry yet he's taking credit for all of the fracking that's going on at the state level. >> we're having a boom right now and it's not because of the policies of this administration. the reason why we're having a boom is because the production is happening on private land and state land but it's not happening on federal land. and like you point out, there aren't that many permits being given out because of the fact of the regulation and it tkes too long to do it. so f him to take credit for this is crazy. it's not him. it's the state and it's the private lands that are producing all of this and helping our economy. >> and don't we want to -- go ahead.
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>> well, the fossil fuel companies are moral, productive parts of america. i knowongressman kucinich would like to demonize them and hurt the country. they are powering the country forward and it's immoral to punitively harm them simply because they are successful. it's en more immoral to give the money -- what -- >> what are you talking about? hello? >> congressman -- >> they have record -- >> congressman -- >> how did they get the -- >> gs, let me do this. >> can you answer? >> president obama, during th state of the union, also said my all of thebove eney policy. if i remember right in 2008 when he ran against john mccain and in 2012, it wasn't his all of the abo. it was the presidens all of
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the above. president obama wasn't necessarily all of the above at the time. >> that's true. t i think the key to all of th, as far as we're concerned, is it is weaning ourselves off of oil. it's a national security issue as well as a tax issue. so it's important that the oil and gas industry in the united states be made strong by any means whatsoever. that if we can -- because it's important for us to be strong in the international community. >> is i would agree that we need to wean ourselves off of middle eastern oil. i also think we need to move to a nuclear-free economy. >> guys, we are out of time. i'd love to continue this. we'll maybe do it next week. coming up next, the president says when it comes to paying men andwomen, it's time to level the playing field. >> it is time to do away with workplace politics that belong in a "mad men" episode. >> senator rand paul throwing
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i sat down with the senator a short time ago. >>ne of the other topics of the state of the union address the other night was the gender pay gap between men and women in america. we did a little research, a couple people sent us e-mails and said you better check in with the white house. apparently the white house has its own gender pay gap. does it not? >> yeah. apparently if you work at the white house and you're a man you get paid better than the women. they better start out with their own. they have a white house war on women going on over there and they need to check out their own household income before they start looking elsewhere. >> in fact, it's almost a bit hypocritical. if i'm not mistaken, it's 87 cents on the dollar that women get paid in the white house. >> the democrats have been coming up with this and saying one party doesn't like women and they do but apparently when it
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comes to them making the decisions, they think they ought toay women less in the white house. hypocrisy is a real problem for them. >> senator, also during the state of the union we saw vice prident joe biden behind the president. the following morning, yesterday morning he was -- he hit the talk show circuits and he talked about his thoughts for 2016. can we roll a little sound bite of that? >> heart i'm confident at i could make a good president. it's a very different decision to decide whether or not to run for president. and there's plenty of time. i've not made the decision to run. i've not made the decision not to run. >> aside from your opinion on whether or not he should run for 2016, let's talk about the next three years. should he step up and have more presence in the white house for the next three years? >> well, the interesting thing is that he actually has better rapport and more of an ability to come to congress and we understand that keeping him on a short leash up there because they are afraid he will upstage
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the president but actually when he has come to congress has been and probably had a better ability than the president to actually get along and try to seek compromise and that's what we need. we need more conversation so actually rather than creating some commission and shuffling the vice president off to some third world country, they probably ought to send him to capitol hill and let him talk to us. >> all right. not a bad idea. let's talk about 2016. now, he said he wasn't sure if he was going to run or not but he thought he would make a good president. your thoughts on running -- going against joe biden? >> well, it sounds like he's got one vote. he's convinced himself he would be a good president. but i don't know. there's probabl some skepticism among others about that. i think he's a nice guy but only time would tell, you know, whether or not he has anything new to offer. i mean, his administration has presided over 20 million people being without work, a really language wishing economy, lots of people losing their health insurance. so i would say he's got a lot of
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explaining to do if he would seek the presidency. >> sure. also, hillary clinton this week, i believe she told someone she hasn't driven a car in nearly two decades, almost 20 years. your thoughts on a pential president or at least someone who wants to be president who hasn't gotten behind the wheel of a car in 20 years. >> you know, i think you're going to have a little bit of trouble relating to america's middle class if you've been riding around in a limousine for 20 years. so when i hop in my gmc truck and go to the grocery store and buy them or scan them myself, i think there's a little more connection in every day america than someoneiding around in a limousine. >> let's bring it back to the state of the union and what's going on since the state of the union. the president has been out selling the things that he talked about duri e state of the nion. first of all, any surprises from the state of the union? did you hear anything that you weren't expecting to hear? >> you know, the one thing that
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troubles me about it is i think he understands where jobs are creating and how he created. he mentionedhat we're backing independent of foreign oil. that's despite his policy because most of the drilling has been occurring on private land and he's not been good at drilling on public land. he's been opposed to the keystone pipeline. if you listen to him carefully, he wants to raise taxes on the oil and gas industry which is about the only industry that is crting jobs right now. we need to do the opposi. i would lower taxes on the oil and gas industry so they will create more ob, not raise taxes. >> i think hsaid he wanted to raise $4 billion in taxes in the oil and gas industry. real quickly, super bowl predictions, who do you like? seattle or denver? >> as you kn, i like someone who will speak their mind and that doesn't mie their wos so i have to go with richard sherman and the seahawks. >> very good. number 25. i'm going to set up my next question by playing this sound
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bite from "hannity" the other night. >> you both have had astruggle wi prominent republicans. you invited governor chris christie to a beer summit? >> no, we're all one big happy family. >> it's all under -- >> it's all under the bridge. we're all getting together now. >> very smooth. under the bridge. i get the joke there. back to the super bowl predictions. super bowl sunday is happening in just a few hours from here right across the river. expecting any bad traffic in new jersey? >> you know, my hope is that everything goes very smoothly, everybody gets safely in and out and i'm not going there. >> under the bridge. senator rand pa, thank you for joining us. appreciate your time. >> thank you. comingup, our "cashin' in" crew is coming back. is this a winning strategy or a
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unionize. >> how desperate are they they they are trying to recruit college kids. they're going to the nlb. they're not dealing with private enterprise. whose rights are being violated? the student, the ones who compete? many of them making millions afterwards. >> congressman these kids are going to school. that's what college is for for the education, not necessarily playing players. >> tell that to the ncaa. this is multi-billion dollar industry. they want to make sure they're at a table about what happens if they get injured. >> they have insurance. >> what if you have some kind of -- wait a minute. it isn't always that way with the athletes. they are trying to make sure they are protected for the long term. you can get hurt playing college football. >> let me get michelle in here.
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take a look at thereull screen we put together. some very, very profitable college football programs. michelle, they're making a lot of money. should the athletes be paid? quick thought. >> no. i think unions destroy everything that they touch. if you look at unions have gotten involved in sport, it's the fans who get hurt. doing business with unions drives up the cost of ing business. they pass that cost onto consumers. it drives up the price of tickets. it's the fans who end up hurting. >> let me get wayne in here before we run out of time. last thought on this unionized college ballplayers. >> there's too much money in college football. you have to cut it out. they're not employees. you can't have a labor barga bargaining situation between the students and football players and the college. the colleges have got to revamp their entire program. that's what you have to do. >> well, i'm not sure -- it's a free market.
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it's capitalism. a great example of capitalism. >> it's not a free market that's the problem. >> wrong. >> i got to go. >> that's the problem. >> wade, i'm not wrong. we're going to talk to you in a second. thank you to michelle and dennis for joining us this week. coming up, it's not just a game but what happens in between the plays that makes america great. we'll explain.
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i like one of big bank, wells fargo corporation. i own it. >> instead of complaining about the money in sports, why not try to profit from it. msg, i'm considering it for my fund at capitalist.com. >> thanks for joining us from super bowl boulevard. >> now 48 years later the same 38 sekcond spotlight like this one going viral. this shows the advertising of a free mart company willing to pay the price to sell you their products. you can enjoy american
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capitalism working at its very best. have a great weekend. thank you u for watching. >> here be loved to things. america. freedom. football. and math. that is why it we hve commercials live guacamole why we will study the greatness. we are the independents. >> i am kennedy and also matt welch. [laughter] and you look gre i
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