tv Cashin In FOX Business April 27, 2014 9:30am-10:01am EDT
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>> watch out for a slippery ride though. >> could be a slippery ride. >> buy low folks. that's it for forbes on fox. have a great weekend. the number one business block continues with cashin in. >> obamacare is going to get a whole lot worse and that's not conservatives saying it. that's a massachusetts democrat saying it. >> it's going to hit the fan. >> smelling trouble with the president's health care law. time to start swimming. but you guys inside. remember my battle with bill o'reilly over green companies getting taxpayers green. now onof those companies is spending our green in china. does that prove i am smarter than the king of cable? >> i share the priority in dealing with the issue of climate change. >> no, really, if the epa chief really cared about the climate, why did she take a jet fuelled trip around the country this
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week? jo john stewart may let you get away with that. cashing in starts right now. >> high, everyone, welcome to cashin in. welcome everybody. we have been warning you for years. and now, midterms, at least one democrat admitting obamacare stinks. >> it will be the first time in this country's history that we have actually taxed health care. the problem has always been paying for it. you know, you have to rely on the other individuals that already have health care to pay for that you have made a promise to those, those individuals, that 270 million people that already had health care that your health care will either be the same or will be improved by this. i think that's a very tough promise to live up to. it's going to hit the fan. >> michelle, is the worst yet to come with obamacare? >> yeah, we are about to go on a ride. you know, in 2017, they're set
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to expire. there will no longer be taxpayer dollars mid gating the cost of losses. that's going to drive up the cost of insurance. but not only that, this administration had hopes that young people would sign up for health care. that would provide a lower premiums for older sicker people. they expected 40% of enrollees to be young invincibles and we don't even know how many of those 28% actually paid their first premium yet. so you're right. the worst is yet to come. >> jonathan, when the democrats started pushing back, but listen, you'd expect that. they have midterm elections coming up, right? >> are they pushing back. i don't see it. i don't see the democrats turning on obama or obamacare for that matter. maybe one small element of the plan? but they're very much in agreement with the basic premise of obamacare which is that health care is a right. and unfortunately what i hear at least is many republicans tend to agree. republicans these days talk
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about common sense reform for obamacare. they talk about wanting to restore us to medicaid, medicare and not get rid of the programs all together. unfortunately both parties are on the band wagon of government involved health care and that's bound to collapse. >> they never showed up. when president obama took his 8 million enrollee victory lap you didn't see the democrat senators, especially one who is may be in tight races. they weren't anywhere to be found that day. >> the one democrat you've got, he voted against obamacare to begin with, right? look, here's the problem we all have. what you kept saying the sky was going to fall in last fall. obamacare was going to do this. it's working. it has 8 million people. just get over this. it's going to be there. obamacare is going to be the law of the land as long as you can see it. it may change some. i go back to the medicare days when they have the arguments
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about medicare. it was very unpopular. sinking in. there's millions and millions of people invested in it and it's going to work. it's 35% they wanted for young people. they have 29%. >> they wanted 40%. bob. the thing is the entire point of this law was to get people that were previously uninsured, insured. the people getting insured were kicked off insurance plans they liked. there are only 1.5 million people enrolled previously uninsured. what was the point of this? >> michelle it's because -- >> you might know more so i'll leave it at that. >> well, michelle, because bob and many on the left consider it success when they get control. that was the whole point of obamacare was getting complete control over health care in america and that's exactly what they achieved. the republicans have not countered that. they haven't put forth the fundamental basis of getting government out. that's why obama continues to
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succeed. bob considers medicaid a success. we're talking about $100 trillion in unfunded liability. >> do you want to go back to the good old days before obamacare? is that what you want? >> we juan a free market. >> before we go back to the days that president obama reinvented the american economy, let's do this. the brothers, libbertarians. they have an ad going directly after democrats in states and in seats that are vulnerable and they're going after them in the form of obamacare. take a look at this ad. >> mar landry said obamacare is going to make things better. better? not for people like me. i don't think she was looking out for my best interest or the people in louisiana. obamacare is hurting louisiana families. >> maybe they're going after them. >> the republican national
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committee which is a wholly owned subsidiary of the brothers. they're bad people. >> why? >> i can start with some of their trading practices. the countries that were at war with us. but let's leave that aside. last time i did that they got their lawyers on the phone and scared me. >> stay on it. >> they're going after these democrats. >> do i think it's going to hurt elections? yes. is it going to hurt as much as you think it is? no. but it's going to hurt people. if i were still in the campaign peopl business, i wouldn't have people campaign obamacare. >> lost money at work, lost hours at work. it's hurt a tremendous amount of people but those people are just sacrifices for people like bob on those on the left whose real goal was control from the get go. >> there were 5 million that lost their insurance. how many now do you think don't have it. >> about 300,000.
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>> but the quality of their health care is going to decline. that's why socialized and government run health re. >> people don't even like this. if you look at the polls only 39% of americans actually like obamacare. nobody likes it. >> there's something very important here. there's a stat that came out this week that covered california and their state health care exchange. they were given $674 million as a federal grant. now these people have now turned it around and actually hired tax preparers to pay people to sign up for obamacare. is that how we want our federal tax dollars spent? >> they're bribing people because they can't get people to sign up. taxpayers have already spent so much money on this ridiculous bill that they do not -- this ridiculous law they don even like. only 39% of americans like it. why are we now giving money to tax preparers to get people to sign up for obamacare.
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why aren't people signing up? >> 8.1 and how do you know it's 8.1 billion. we'll leave it there. trending on twitter, 13 weeks in a row. if you #cashinin you'll see thousands upon thousands of comments. did o know his attacks on business and higher taxes and increased regulations would hurt the economy? if so, did he care? and great show today. must get the truth out there when other media out lets try to bury it. #cashinin. >> a green car company that took fax payers green is trying to do something in china that may lead to bolling versus bill part two.
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i don't remember the innovative wonderful capitalist companies borrowing money. >> they paid the money back. >> if you have a good product, you don't need the government to help you out. >> that's true. but this is about cleaner air and hurting the villain. >> well, this week we learned how tesla is thanking us for helping save the rear bumpers. they announced plans for the near future. now, jonathan, i wonder if we can build things now. >> i couldn't imagine what bill thinks but i think government should have never given those loans to begin with. it doesn't matter how many jobs were created. the end does not justify the means and for your point it's wrong for government to give anyone taxpayer money but in terms of terks, sla deciding to manufacture cars in chuy ma, it's irrelevant and at the extent that cars can be out sourced to save american companies money, that's a good
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thing. the money saved is reinvested back here in america in new wealth creation. that's all we have. we have a highly controlled economy. that's why you're not seeing the jobs under obama. what about it? we loaned tesla $500 million but they ended up with a car that cost $80,000 to build and the new jobs will be in china. >> how many of the companies do you invest in are in china? start with walmart. one of the biggest rescipients y the united states government? all of the things came to you by research and development. the internet, plastics, computers. go down the list. what about the money we give to big oil every year. $4 billion for what? they're hugely profitable. does jonathan complain about big oil. >> hang in there. yes, there is $4 billion of allowing oil companies to keep some of their hard earned money. president obama --
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>> the main point here. >> wait. michelle he spent over $150 billion so far? what do we have to show for it? an $80,000 car that no one can afford to buy. >> exactly. this is why government bureaucrats shouldn't be playing venture capitalists and using our money. if you have a good product, customers will buy it but if you have a product at a price customers are unwilling to pay, make a better product or make it less expensive. don't force taxpayers to pay for your product through a subsidy and now they're going to send the jobs to china and the taxpayers are on the hook for all of it. >> where do you think the money is going to stay? >> all the money that jonathan talks about by making stuff overseas doesn't come back to the united states. they hoard it in banks in europe and won't bring it back. >> why is that? the government makes it too expensive to bring it back. let me make the point because you talked twice already. we used to be 98% agriculture
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and out sourced those jobs. we were 22% manufacturing and those jobs are outsourced and replaced by better jobs. service oriented jobs tend to pay more and are worth agriculture jobs. new jobs get created here. >> are you talking about service jobs in hotels? what are you talking about? >> that would count as a service job. >> just one of them. >> here's the point. president obama has various initiatives, $150 billion over the six years he's been president. he has decided who the recipient. who the companies are that are going to get help. is that fair to every american taxpayer that doesn't have a say in this. >> there's nothing new in politics. but i don't think obama administration is a whole lot different. maybe even a little bit worse in terms of sending money to certain politically connected people. that's not unusual. i've been in politics for 35
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years. i've seen every administration. >> but is it fair? >> no. >> it's not fair at all. the government shouldn't be picking winners and losers. >> it's not fair. >> but bob equates letting an oil company keep more of the money they earn as being the same thing with government taking money from taxpayers and giving it to a political privileged clash. >> we don't give it to them bob. >> no, we let them keep more of the money they earn, bob. that they earn. >> that's a tax break on the money they earn. >> why do we give a tax break? >> they should. they should keep more of their money. i would rather have companies keep more of their money than give that money to government bureaucrats that are going to spend it on who knows. >> to send it for the greater good. >> how about sending it to build the internet? how is that an idea for the defense department. >> oh my god, bob. >> oh, we -- >> one major innovation in this company the united states government hasn't been involved in. >> capitalism. that's the one. coming up, the head of the epa
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a hummer. >> sounds russian. >> it is. >> i fear the president's priority of dealing with the issue of climate change first and foremost. >> see, the first part of that issue getting over half of congress to admit that it's happening. >> actually, we tried that first. >> not well. >> environmentalists aren't laughing over her jet fueled trip. they're fuming over it. jonathan, can you say hypocrisy? >> absolutely, when it comes to the epa. it's the term that fits. it's kind of like obama's animal farm with many of these regulators. all the animals are equal, but some more equal than the rest. the daily color this past week had an article about how many of the board members drive suvs and gas guzzling jaguars.
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if you want to have a green footprint, you'd have to kill yourselves, so you need to use the earth to live and prosper. >> how about you, michelle, do as i say, not as i do? >> typical democrats. it's ridiculous. they are constantly trying to get us to ride bikes, but it's totally okay for them to go on their jets. the president on earth day burned 35,000 gallons of fuel flying from washington, d.c. to washington state and then, he went all the way to asia. but it's totally okay because he's the president and he can do what he wants, but all of us got to live like we're cave men. >> i know other presidents have taken boats. you're probably right. >> bob, here's the point. this is the epa's -- >> you want to go back to the days, you don't want the governor to -- jonathan wants dirty water, that was cleaned up. >> the problem is the hypocrisy, bob. you want us to give up, wait,
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wait, wait. >> here's the hypocrisy. on earth week, gina mccarthy goes from new york to boston, from cleveland to atlanta. >> hypocrisy. you guys want us to give up our suvs -- you get car service then come here and start railing against all of these environmentalists. >> i want to pay you guys to install flat earth society. >> jonathan doesn't have a car, but he admits a lot of messing. >> is that the -- >> environmentalists have wanted us to come to this country and not cut down a single tree. the more we've used the tree, the better it's become. >> we ran out of time. once again.
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a quick side note on earth week. steven colbert mocked me this week for being tongue in cheek about how i celebrate earth day. >> we should all celebrate like eric. >> it's an annual event in my household, open all the windows, turn up the heaters and air-conditioning, and i spark up the 90,000 bt barbecue and cook some steaks. >> way to stick it to the greenies, eric. man, i would hate to be the dumb ass who has to pay this guy's utility bill. >> touche, colbert, i hate to be the dumbass that has to watch your so-called comedy show. if you can't tell a joke when you hear one, i can't imagine you'll be able to deliver one on the late show. coming up, hundred years old, we celebrate a birthday milestone that defines the american spirit. [ female announcer ] who are we?
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