the news is broken, not just because we're politically bias but most good news and most important news happens slowly. that's our show. see you next week. guns. >> so much fun. k. guns. >> you loved the guns did you say? >> so much more coming up on the show. hike or take a hike? a credit agency with a warning to push the hike in minimum wage, and what that would do to the economy. i'm brenda butner, and let's get right to the "bulls and the bears." we have our panel along with mark hannah. welcome to everybody. how serious is this? >> well, brenda, it is very serious, and every time we talk about the minimum wage, it is a a head scratcher for me, because

i cannot see the positives in this. let's stipulate that it is going to hurt powerful businesses, and small businesses and meet yolker businesses, and so it is a tax the basically, and at the end of the year, they have less profits to grow the business or hire less people, but talk about the populous view of the minimum wage and that does not wash. one, it hurts employment. study after study have shown that there is a correlation of raising the minimum wage, and increase of unemployment. and look no further than the last increase in the minimum wage, and you can see tin cre t decrease in teenaged employment. and who is out? the most disadvantaged people and unskilled people in society especially like the hike in seattle up to $15. and it does not help those who do not want to be helped. for a family, you have about 5% of the population.

and for those people, you are better off to give them a big tax credit or helping them out with welfare rather than raising it for everyone. >> and mark b has one view on it, and he says no positives, and what about you? >> well, from the purely economic standpoint, i don't know where gary gets the information, because of the 13 states that have independently raised the minimum rates in january, they are seeing more job growth than the rest of the country, so there is an argument here economically that you incentivize people to work and put more money into the pockets of the consumers who are people who are working for the minimum wage, and they are spending it. they are not investing in offshore accounts or foreign companies, because they are injecting it back into the eeconomy. the business community in seattle advocating against the $15 minimum wage is advocating for a $12.50 minimum wage which is a lot more than we are seeing

at the federal level right now. so even if that business community recognizes that the m minimum wage needs to be raised, but it is how much. >> and brenda, just because the consumer has more money the pocket, that means that the employer has less, and the consumer may be well out of the job, because then the emp ployier says, i can't keep you on at $15ing becau inbecause i it to give you because profits are tight around the kun tcount. it is a backwards notion to increase the prosperity in the country. look, a couple of dollars is not going the put you in the millionaire's mansion, and you get ahead by doing better and getting oing out of minimum wage. that is what should be the goal here. >> and tracy, should anyone in america be living in poverty? >> well, poverty is not minimum wage? >> yes, you are. you are making $15,000. >> and what percentage of the population, mark?

it is a small percentage. >> let me go to john, because there was a credit rating agency who said that this could very well kill the restaurant industry, and this is a real problem and what does it mean to the economy this is. >> well, it is going to hurt. mark makes the emotional argument when you want to spin it and make something in some ridiculous realm. how do offshore accounts get into the minimum wage arguments? that is political spin and go up to the 1%. you cannot compare pine bluff, arkansas, one of the poorest places in the country to seattle, washington, one of the richest places in the kcountry and say they increased the minimum wage and therefore it has to be because of the minimum wage. what gary b. is talking about is correct, 5% of people are in poverty because of the minimum wage, but what about the other 95%? the majority of the family who has a minimum wage worker makes $53,000 per family. andy is talking about

is the earned income tax credit, and that is how you fight poverty, and this is not the day of the pinkerton agency and andrew carnegie and creating jobs, and then you won't have to w worry about the minimum wage. >> and jonas, you like the idea of a federal minimum wage? >> yes, we should have one and then index it for inflation, and we should not have to use it coming up every couple of decades to be used by politicians as a vote-getter. it does incentivize people to get a job. because it will lower the price of benefits could help the problem. and you could create the illusion that it is not as bad, because in the actual numbers and when the democrats want you to stop smoking, they raise the price of cigarettes, but if you

raise the price of labor, it is the same formula. so we will lose some jobs burk other benefits that mark brought up that psychologically, it is like a union that you are getting an artificial wage here. >> and do you deserve $5 to wash a dish? call a spade a spade. these are not high-paying jobs. >> no, miserable paying jobs. >> and so the issue is who should set this wage? be the company or the government? gary b? >> the market should set the wage. you open up the business and advertise for positions at $5 an hour, and if nobody shows up, you say, maybe that wage is not high enough and maybe i should raise it to $7 an hour, and this is what is going to happen when positions open up at walmart. there are lines around the store waiting for people to get in.

>> they are higher than the minimum wage? >> yes, and if they had no lines around the store, and they said that we can make a lot of money here in allentown, pennsylvania, then we need to hire the workers, and guess what, they have to make the carrot bigger, an offer more money. that is how the market works. you can't create something from nothing. >> mark is jumping out of his seat. go ahead. >> well, reasonable people can disagree on whether to raise the minimum wage or not, but something that we can all agree is that congress should put it to the vote yes or no whether we want to raise it. if the republicans have an economic argh yiument against a philosophical opposition to the minimum wage, why not have the courage to vote that way. instead, john boehner is too afraid politically, because he knows that most of america is going to support the raise of the minimum wage. >> this shouldn't be a federal issue, and that is where we are coming from, and this is not

their problem as gary b. eloquently said, it is a market-driven issue, and that is where it should be. >> and back to the economy, and john, i want you to jump in, please. >> this needs to be fixed. and this arguing of the john boehner and stop with the stupid politics. that is what is wrong with this country, you want to blame the other side. i agree with jonas that you need to index it for inflation , but it needs so go to the state instead of the federal government, because the economy is so divergent from the silicon valley to mississippi, that you have so divergent needs that it needs to go to voters and that is one thing i need to agree with mark on. >> and the baseline minimum wage that it can't be below, and the states should be setting the min mum wages as well. there are a lot of states affluent states that realize

that people need more money to live in whether it is massachusetts or california and set the wages higher. >> but with the tepid job market at this point, is this the time that you need to be telling the companies to raise the wages. >> well, it takes a lot to say to the government, how dare you to spend my money. and gary b has said it, and we will say it again, the market is going to dictate it. if i can't pay my employees, then i'm a business jerk. and what a google founder called about the nation that neil cavuto is calling part-time insanity. as you hit the road, gas prices are coming down, and time for washington to give drivers a bigger break by taking the foot

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our planet together our hands can save it connect your hands with ours and we can save our land, our water, our future. join us at nature.org the nature conservancy protecting nature, preserving life i'm kelly wright and now back to "bulls and bears" following your local news. finally relief at the pump. nearly enough? gas prices are falling everyday so far in july and some say they could be down 25 cents by month's end. it comes on the news that the u.s. is the number one oil producing country in the world. >> we are the only developed

country in the world without a oil policy. the utica shelff and the monterey shelf would take away the problems and make them solvent for months to come. the p president has to tell epa to rule on the fracking and how is it safe and not safe, and continue if it is. how do we have a pipeline policy, and the keystone is blocked and how do you have it fit in, and how is it or if it does? because we have no national energy policy and the only job e creation event on the horizon is energy, and we can do so much more to create jobs in the country and be free of fossil fuels and we are not doing it, because we don't have an agreement in washington, d.c. among the two bickering children called the republican ss and th democrats. >> and you don't necessarily think that we need for the drilling? >> no, isn't that good enough? we should join opec, because

that would be an energy policy. and you are not supposed to produce all of the oil at once, and if you joined opec, wouldn't they tell you to produce less and make more profits and milk the gravy train for as long as possib possible. shouldn't we save the oil so we have some in 20 or 30 years when it is saudi arabia and russia and the only other countries that have the oil. we are the only country with the major reser 1/2 the world going back decades long. so sit is not like we are not doing a better job of producing it, but i argue to produce less so that we have chips in the game. >> and well sh, stacy, jonas drs a scooter, sow he is not concerned about the gas prices, but are you? >> well, i'm clearly concern canned about the gas prices, but to john's point even without a plan, you have horizontal drilling and the hydraulic

fracking and all of this stuff going on and which rat the highest output we have ever been at, and we have no plan or guidance and we are still number one. the output is the highest, and we are doing fantastic and why not keep the ball rolling with this. and jonas, i get what you are saying, but it is not like monday, you say, i think we need more oil on friday and we have to get going. >> and there are also more earthquakes in california because of the fracking. but go ahead. >> i have to get everybody in. mark? >> well, the all of the above energy policy is working, and we have more land opened up for exploration, and a great thing that america is producing more oil than ever before and getting at it. i fill up, too, and i would like to see the gas prices down, and i hear below $3 in the south even. >> gary b. >> we have an energy policy which is that the oil p producerers are not allowed to export oil. and typical government red tape getting in the way. to jonas' point, you don't go to

g.e. and say, you are selling too many turbines overseas and keep them here, and first of l all, we don't have a place to put all of the oil. release it where the market demands it and that should lower the overall price. >> we can talk during the commerci commercial. thank you. texas may be oil-rich, but the cash-in gang say it is mighty rich in texas. what have you got? >> well, having too much fun to go to the border? we have a look at how the president is handling the expand ing problem and how much it will cost can the fix it. the cashin' in gang is coming up at 11:30.

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that's enough time to record a memo. idea for sales giveaway. return a call. sign a contract. pick a tie. take a break with mr. duck. practice up for the business trip. fly to florida. win an award. close a deal. hire an intern. and still have time to spare. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business. built for business. hello, miranda? >> well, what if i told you that one restaurant is trying to trademark no tech tuesday. it is going to ban technology

from its restaurant. and tracy, you say that everyday should be no text. >> and we have a no tech bill, a and if you reach for it, you have to pay for the bill. and unfortunately, i get stuck with it every time. and don't play games or anything, and i agree with it, but the notion of no tech, you need it for emergency purposes. >> and jonas, mr. tech. >> okay. look, i'm for no cell phone talking, and that should be across the board, but the no e e-mail on the tuesday and you want a work crowd or bunch of early bird people? that is what is going to happen to the restaurant, and as much as it is bad for the devices, the noise of children has gone way down since they have the gadget in their hand. i have to tell you they don't want to sit next to the appleby's with the little kids, because when you are in the airplane and the last place for them to scream is because they have made the video games

illegal, and so yeah, tech, that is how you shut up the kids. >> bah, humbug. >> well, maybe you have found that your house is quieter with the gadgets, but what do you think about the apple bee's thing? >> well, it is silly. is that part of the decision-making prices, fridays or apple bbees's, and that is a deal maker, because if they believe it is going to make up sales, fine, pajama wednesday and whatever, have it at it. >> i want to see what the training program is for the waiters who have to go around to slap the people on the wrists when they pick up the cell phones and how do they enforce it? put their cell phones in the basket when they walk into the restaurant? it is interesting idea, and i was raised not to answer the landlines at the dinner table,

so it is going to be interesting to see how they roll it out. >> let the market decide. when bloomberg decided to ban smoking in restaurants, it was to be the worst thing ever, but it has not turned out that way. they are trying something new, and so we will see. >> and this is not like bloomberg trying to ban smoking, but it is just their own xan. >> and remember that red lobster had an all-you-can h-eat crab special, and the guy lost his job, and if this is not going to work, somebody is unemployed. >> last word to gary b. >> well, i know where i am going to dinner tonight. i'm going to apple booe's, and going on the tuesday to see if there is a big difference of the tech and the non-tech. >> all right. okay. we will see you there.

thank you, guys, and thank you to tracy and mark for joining us. >> thank you, brenda. crumbs may have crumbled, but we have the new name for you to munch on.

up. college is hard. down. those books are heavy. my sport is football, but my passion is education. so every year, i take promising high-schoolers on a college tour... you're getting it. lights there, darks there. to show them that higher education means a brighter future. [bullhorn whoops] [laughter] my name is nnamdi asomugha. i don't just wear the shirt, i live it. announcer: you can be a reader, tutor or mentor, too. take the pledge at liveunited.org/volunteer. do you wear this? predictions and gary b. >> brenda, the movie theaters are now adding lounge chairs to

attract customers and i say, old fashioned way, plop on the lazy boy and pop some popcorn and buy lazy boy, because it is going to go up. >> i love it here. >> i love it and netflix, but the stock is rich for me. >> and what is your prediction? >> well, my prediction is that lebron james going back to cleveland and breaking up the dream team in miami is good for the texas basketball team, and the mavericks and the rockets are going to win more championships and the houston-based team where chris bosh will go is going to have stocks going up in the next year. >> and you like all things texas. >> well, i have to say no to that stock. >> and what is your prediction? >> when i went for the three muffin lunch this week, i noticed that the crumbs bakery was taken out, and i think that the gluten-free craze has destroyed another bakery and

that is why you should go with the texas road house which is up 20% again in one year. >> and what do you say? >> well, it had a split stock, brenda, so stay away from one, brenda. >> and neil is next. big things of letting d.c. spend more of this, and do you see anything wrong with any of this? i'm neil cavuto, and congress is in slow motion to find a solution for the v.a. and shock of shocks. now they are calling for the speeding things up, but guess how? by bringing back ear mamarks tot it all on spending, and pork spending or targeted spending and still green and we don't ask, and still a problem that has pretty much everyone here seeing red. ben stein and david mcdowell are back along with charles payne and