highs, small cap stocks have been hit a little harder. >> you see this market momentum continuing. >> the economy is safe. >> my friday was worrisomworris. >> will you let him answer the question. >> i didn't ask him a question. >> yes you did. >> outrage growing over a huge bomb shell. the top tax official back in the hot seat after reports the agency lost more than two years of critical e-mails sent by lois lerner and seven other employees because, get this, their computers crashed. >> first they had all the

e-mails and now they don't. hi, everybody. welcome to forbes on fox. >> steve, is it too early to say cover up? >> it is a big cover up. this is the biggest political scandal in american history. the idea that these computers suddenly crashed is preposterous. the other scandal is the major media outside of fox has been ignoring this thing so what you will get is a push one for tax simplification. the effort to intimidate ordinary american citizens not just major opposition leaders. >> everybody is afraid of this agency. i'm not an it expert. i will at mid that happily.

i have never lost e-mails. i called the it department. when a computer crashes you usually don't lose e-mails. computers crash, loss of e-mails. coincidence? >> what did they do? take them to a football game picnic? it's getting to be silly. here's the worst of this. if you accept what the governments had to say is true, it gets worse and worse and worse. that eight computers crashed, come on. we all know experts that could draw anything out of it. they're supposed to be keeping all of this data as back up. i can't go to the irs and say that i only have to keep mine for six months because the law says i have got to keep it for five to seven years.

it's unescapablunescapable. it's either on purpose or we have the most inept irs that one can imagine. >> what's good for the goose isn't good for the gander. i think that's a brilliant point. i would say this isn't a silly thing. obstruction of justice by the agent that collects all of our national treasure is a scary situation. >> this is not about corrupt money pouring into the system. this is about stifling the opposition during a presidential election or reelection. there is there to the irs story as the irs for months in giving over the e-mails. the e-mails do exist on servers

at the irs. if the private sector tried this they could face 20 years in prison. those e-mails are there somewhere. it came at a time when nine democrat senators are pressuring the irs to go after and shut down conservative non-profits. >> at the irs, when you send an e-mail to somebody it passes through three separate servers. plus the recipient has it. it's a cover up of the media. the media are not reporting on this. and that perhaps is one of the reasons why the public is not more outraged by it. >> you are so right. no one believes that the computer ate my e-mail. the public is no even hearing that. one of the biggest scandals of the year is the media's kplis

icy. this is a serious problem. what's the time line? what was locked? who locked things? what did those e-mails say in them? there was been no attempt at investigating what happened there. >> and john, tammy, the timing is critical here. 2009 to 2011, that is a time when the tea party was gaining the most traction. again, co-incidence? >> it's so obvious that it's a cover up and we all know why. we know when we send e-mails, those are forever. it's the idea that an irs that can track our earnings and catch little mistakes can lose.

>> it is either purgery or obstruction of justice. >> i look at the bright side of this. here is the poster child of big government. what have we had? we have had the secretary of state, hillary clinton, say that when she was there she was not in charge of security at benghazi. we had the president lie for months about obama care. we have had the attorney general say that the gun running down in mexico, he was held in contempt. big government, not just the e-mails and servers and computers. >> steve, about 40 year ace go there was a secretary named rosemary woods. there was a taping error that

happened during which there was a gap, a critical gap. his role in a cover up. that gap prevented some of that identification. eventually the president had to resign. could this lead to that? >> that 18.5 ratio was fun to see how it happened. it did bring down the president. i'm not sure it will bring down this president but the fact of the matter is it will bring down the democratic party. you will start to see it in november. it will discredit the idea of big government. >> if the public is aware of it. i listened to npr yesterday. we obviously are right here. i listened to npr for an hour and a half. not one word on the day the commissioner was giving testimony. not one word.

and npr is not reporting on it. >> if they didn't record on it it's shocking. i do have to say this, i think steve undermines his case which would otherwise be a good one when he overstates it. this is not going to bring down the democratic party. >> i think it's worse than water gate. >> look. >> it is no good. >> let's be realistic. >> worse, not worse? does it compare at all? >> watergate was about hitting the leaders of another opposition party. >> this is going after ordinary american citizens. >> who we're talking about big government settings. we we need a special prosecutor.

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fiery debate over whether we should send more money and more military assistant to help iraq kees government fight jihadists. and john, that's why you say more equipment now could easily end up in the hands of terrorists. >> i think as tragic as all of this is, it's time for us to wash our hands completely. troops lost enormous amounts of lives. once trained to maintain their freedom, they laid down their arms. the idea that u.s. troops and u.s. taxpayers should be on the hook to maintain the freedom of a country that doesn't appreciate on its own i don't think is credible. >> steve, what do i tell my marine son who fought in iraq as did hundreds of thousands of other americans who saw their

buddies sustain injuries. what do you tell those folks if we abandoned it entirely. >> we should have learned from the 1930s. if you try to abandon the world the world will come back in a bad way. obama made a huge mistake in withdrawing all of our troops a couple of years ago. we had to leave something to make sure that this place didn't fall apart again. >> we have seen more and more cities drop. what we give landing up in the hands of the terrorists. >> i wouldn't give another cent or send another troop to iraq. thisresident several days ago

said he would form late a strategy. this is literally a president who hears about things when he watches the news. i think any money would be completely wasted. i would wait until we had a competent commander in dheef. i would nt send another cent. >> i usually have strong government. they don't care about you and i. i care about the bad guys. get the bad guys wherever they

are. if you can find the bad guys in iraq, take them out. >> just finding and getting the bad guys. that money could go towards helping veterans back at home and doing things like hiring teachers. >> do we spend more money or just stiff them? >> this was a relationship situation, i had dumped my boyfriend, john mccain and mitt romney, i would be begging them to take me back. we invested american lives and

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>> political correctness gone too far. in a rare move the u.s. patent and trademark office cancelling the rej straegs. that say the name is offensive to native americans. you think this is a bad precedent for all businesses? >> i do think this is hugely disruptive to their business model and their trademark. that being said i am no elizabeth warren. but i do have native american ancestry. i do think from a free market point of view, they should probably move on. i think it is a pase term that is similar to the term of colored for african-americans.

i think it might be time to move on. >> my question is business. you cover sports. >> you know, it won't. this will not affect the revenues nor will it impact their ability to sign players. >> i don't want some government bureaucrat deciding what i can say and how i can deal with my own property. >> this is fip call. where they make it up as they go along. here they are tearing up the law. they will be overruled. >> any and every business is vulnerable to that. >> i know you are a strong defender. aren't you concerned that you can have bureaucrats deciding to

change somebody's name? >> it's why we have the law. i actually think lit be overturned. patent law is very clear. you are not allowed to be issued a patent in that circumstance. dan schneider wins because we also have the law which effectively means if you sit on your hands for too long you don't get to come back and ask the law to do something about it. those people who are offended by the red skins waited too long. i think equity requires that he be entitled to keep it. >> the tea party. the tea party is racist. by their definition. if somebody has trademarked tea party as part of their company

name, they could lose that trademark because some people think it's politically incorrect. you can expand this to all kinds of areas. >> what is the logical end? are we going to start getting rid of all of the cities in the southwest that are based on christian names because atheists don't like them? the bigger issue is what does this mean? is it politically incorrect? >> it could be dealt with reasonably. and mike, you know the history of this. in 1999, i think the patent office tried to do the same thing and they lost. >> that's absolutely right. in fact it's very interesting. the bidding for this team, the

sale was going on. in both before and after the ruling, the bidding price stayed the same. i don't think it will have an impact on the team. >> those are the right words. willie nilly. they interpret the law anyway they want. >> there is a whole slew of various names and professional teams that could be thrown into the fire. coming up, turmoil in iraq could bring turmoil to our markets but no

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downdraft. >> we're all waiting on that downdraft. thank you so much for watching. keep it right here. extremists launch a major assault. >> pump prices heading higher. here's a solution. start letting americans pump out more of our own to finally cut our dependence. it's not just fuel. prices are hitting record highs. here's another solution. how about washington stop throwing money at all of our problems. >> difficult hard choices. hard choices. >> hillary clinton giving non-answers to serious questions. th