tv Cavuto FOX Business January 28, 2015 8:00pm-9:01pm EST
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. i can come back and this is the book's. lou: this is the book. be sure to check it out. on sale on bookstores online everywhere. thank you and goodnight. neil: welcome, everyone, this is "cavuto." a fox business alert. i'm going to commend the president on a budget issue. 534 billion-dollar defense budget is certainly a step in the right direction because it reflects the reality of terror. i fear that this president may not appreciate. he does or more so than i thought, so much so that he is busting defense spending by $35 billion. i don't know where he plans to get that money and i certainly hope that he finds someone else to get that money, but i think that he does have his prayer word is correct. you could argue, of course, that given all the terror threats across the world, he is not
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spending enough and that 50 billion allocated is not enough for this president is a remarkable recognition of reality and the scope of the terror threat globally. to john cochran, who says that now it is a matter of spending the money wisely. >> right now what is happening in the middle east and around the globe, especially with isis we have to put this vector in line and if we start to put in the special forces and the men and women to move forward on the ground, as should happen, it's going to cost a lot more than $51 million. neil: many have criticized it. but why can't other countries pony up? >> when you look at the
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leadership of the administration and the budgeting act that they passed 2011, we go and this has repercussions on training and buying equipment and other things. neil: that was part of a grand budget agreement it would call for spending caps and proportionally hit the fence, be that as it may, i hope that he gets savings elsewhere. but he always we seize this threat. >> tactically we should be taking leadership -- we have assets over kuwait, we have a strike force and this is going to be more. we control the airspace. but when we have to train them and work with the syrians that is a lot in logistics. neil: i guess you and i might slightly differ, but i wonder
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about all of these other countries that elliott. and i think that there is more that they can do. >> i agree with that. and exactly some of these companies like the french support this original coalition, but now there's isis training camp, we talked about it before -- now we have the going going out in tripoli in canada and we are seeing these guys not doing it by air but to have a special forces and military personnel training and -- neil: if we take the other billion and reallocate. >> when you start to look at the budget, when you look at that
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there are jobs out there just like the space program. we have talked about that a bunch of times about how each state has a piece of the pie. and what happens with disaster relief. >> when you say it's not nearly enough? >> sadistically we have to put our people in a leadership role by the united states government to work with the united states as well. there is so much stuff that is going on. neil: captain, thank you so much. more importantly for your service to the country. now we just have to figure out how much the president allocated in this fight to address hackers. because by the way there is still hacking and taylor swift is the latest. so why can't we happen to isis? the british officials summing it
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up. >> someone tried to explain about snap chat, but i didn't understand about it but it was terraced into hottest groups. it was of the last two systems that i mentioned. neil: let me translate, because the britz have a certain way of speaking there's all this technology out there and i don't know what it does, but we better get on top of it and make sure that we own it. megan, he's talking about all of these social apps and saying that they can play a key role with companies behind them in chasing the bad guys. those companies respond no. know. what do you think? >> it's important to remember that the islamic state has a certain level that we have not seen before with the jihad
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groups. so is we have taken this in eastern syria and northern iraq, we have seen this girl and we have a massive propaganda machine behind them, what they are doing is putting out all of their contents with videos or images trying to recruit supporters on platforms like twitter. neil: obviously they have a sophisticated appreciation of this technology, but why these venues? >> and allows certain encryption that is not there or a public platform. although i think that some of these politicians are missing -- the fact that we really will not have access to all of their content and information unless we open up a much wider ability to tap into the regular every day citizen messages and information that are encrypted and i highly doubt that snap chat or any of the other
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platforms would allow for that kind of encryption of their concepts. >> the bigger issue seems to be this is where and how they recruit and i don't think a lot of the public officials appreciate the magnitude of that. >> i think it's a many headed hydra. it's not simply snap chat but what we found initially and sharing all of their content on twitter and then they move to a russian social platform. neil: when you say chased off what do you mean two. >> you can check on these accounts, and what i think is bad they have little impact on the ability to get that information out there.
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they have migrated to new accounts and come out with new names, they have moved to things like this and allows you to post anonymously, these people have a certain level of digital savvy and they can put into this security measures more so than some of the others. neil: megan, thank you so much you are a smart young lady. okay sometimes that involves hacking new. if you don't like it you're going to have to deal with it, the justice department telling companies like apple and google to give the government access to e-mails and your photos as well. and the more that we see incidents like this, the more that it galvanizes this effort to go after these companies and say, okay, you're going to have
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to start letting us in and letting us sneak sneak around. what do you say to that? >> there has to be a balance, we have to balance the right to privacy and the need for security, we want to fight against any of these things that they want to have. having said that the american citizens have a right to privacy and relative to that though the googles, the apples the ebay's, all of these folks have better and better encryption technologies that prevent our accounts from being hacked into by anybody. neil: but maybe not ody. neil: but maybe not enough. someone is getting through. so where do you draw the line and how do you balance that? >> are trying to deal with that
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now, the obama administration doesn't necessarily like that, they think that the government should have a backdoor way of getting into the accounts, the private accounts of americans, whether they are on their cell phones or other communications. >> you are arguing to take a mile and you are concerned about that, do you worry that -- obviously these hackers are sophisticated enough that you didn't get kicked out of the system, to get back on -- how do we deal with that? the only way you can do it is to get into the site. >> we certainly have to make sure that we are protecting the security of the american people and the problem is that when you allow the government to have a so-called backdoor to go beyond the encryption to go right into our cell phones and no we are up to, not only is it our government that can do that, but you are opening the door for other actors like china and
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russia and other hackers and you are allowing those folks potentially to get in there just like the government is. even if they wanted, many people think that one of our most important constitutional rights as americans is our right to privacy in the right to make sure the government is following you around everywhere and knowing everything that you are up to. there's no reason for the american government to basically have the attitude that all americans are potential terrorists. neil: that is very well put. congressman, thank you for being on the show. you might have heard a lot about the administration talking about how deficits are coming down. but this is a calm time. my next guest is right the number cruncher over at the congressional budget office is more like the calm before the storm and oh, what a storm it is. coming up after this.
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neil: let me stress again when it comes to defense as president has his priorities right but unless he gets funds from elsewhere to pay for the priorities, that would be wrong because all the debt we are piling up is not going away and doesn't the head of the cbo know it and fear? take a look at this. >> large that would have serious negative consequences including increasing federal spending or interest payments or restraining economic growth in the long term and giving policymakers less flexibility to respond and eventually cutting the risk of a fiscal crisis. neil: another $7.6 trillion in
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two motived zigs between 2016 and 2025. by the way, that is on top of the 18 plus trillion that we have now. over to the fox news stars lis donald, tracy byrnes, jerry leiby. that is a best case scenario. what do you think of that? >> it was dick cheney that implemented this. first of all we have -- if these interest rates go up we are toast on that. and there could be no place to go except to increase the debt. neil: i heard a liberal critic go out and say this. but leaving that aside even if
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you are slightly off as tracy pointed out a slight uptick in rates sends these numbers skyrocketing. >> this is the baseline case as you pointed out, we have to keep that out even if it is off. and it's like you're being loaded up with that coming up $10,000 in debt and you can not always afford to pay so you take it and then you borrow 20,000 and are thinking oh this is great and you have another credit card. after a wild we compounded this debt and like it was said earlier, the second real interest is due the second it you have to pay. and you end up in the poor house for the country and it ends up being war or a massive default. neil: it shows that the deficits are coming down.
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>> you are talking about this exploding. and i like how every federal reserve continues with this. >> that is the national debt you are looking at. so every chairman says we need to perform. they have aided and abetted, but watch this, the cbo also found fannie mae getting new solyndras style offices now getting brand-new offices. >> government spending is taxes, spending is taxation. and that is how we have to drive this story home to the viewers that are already part of it. >> 47% of that is medicare and medicaid and social security and we have yet to follow a politician to step up and say we have to reform this.
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no jobs -- we are all going to be living on this. >> the last time that we did this we talked about the growth. >> that is where you have to be really careful, no politicians will touch it because their art touchy issues for the base, that is the difficulty with anything. twenty-five years from now, the cbo projects 100% of the gdp will be equal to our data. neil: meanwhile, let's talk about another waste of time. >> i'm just saying. it's a waste of time. a waste of time. >> so what we need to do is define the executive branch. neil: get ready for round two.
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neil: it is time for my spiel. and it's another grand old waste of time, republican leaders talking about suing president obama again. the speaker of the house himself. been there done that, having a lot of time pushing that. do any of you remember this? >> what we can do further is impeached the elected officials. neil: my point with the former congresswoman then remains the same right now, her heart was in the right place, unfortunately not her brain. because while it might sound good to sue the president of the united states, good luck getting anywhere with it. for another thing, it's the president of the united states
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and that is a mighty big help to climb. i don't like these executive orders for millions of illegals i agree that they probably are illegal acts but you don't fight them in the courts and stick up for the legal bill but fight back in congress with their own immigration bill, one that is sweeping and enforcing and puts the president on the front. that is how you also make progress in another court, the court of public opinion, clearly seeing the president's argument that republicans are obstructionist and that is how you take on a president abusing his authority, and not by suing him but by one upping him, with a bill that leaves them no other choice and that is just me. bob cusack my argument, there are way too many individuals doing this. what do you say? >> i do agree that the lawsuit, number one, it is not going to
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work as you mentioned, it takes forever. by the time it is resolved president obama will be back on the golf course, out of office and i don't think that that is the right way. speaker boehner is trapped here because he announced this lawsuit as it was trying to come up with some kind of strategy to pass it through the house, but it doesn't have the votes from the senate and they have to make the case to the american public, they don't want to have a partial government shutdown. so they are kind of trying to find an escape route and they look -- speaker boehner is saying look at the shiny object check this out. neil: to your point it is just the way you go about it. and i think that they would have far more arsenal, even in the court of public opinion, by showing that we are going to put the president here and saying this is our measure, now what are you going to do. >> i have talked to a couple of
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house republicans who have questioned the strategy of gop leaders and they say well, listen we know we're not going to get everything we want, we know that president obama has veto power, but let's try to get something out of the deal, let's not try to fool before we get up to the deadline. you play your hand very strongly and then you see it you can get some chips in return. now they fear that they are going to get nothing in return and there's going to be a clean funding bill and republicans are going to be worse to cave. neil: i know we live in the world of mainstream media, but it will always favor the president in these struggles and republicans play into that by taking into the court or trying to nullify the health care law all of them -- i take nothing away from them and i leave it to anyone else to judge her. but that is something that the president will always have an answer to. >> yes and it's frustrating for
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a lot of tea party republicans as well and establishment republicans because it was just a couple of months ago that republicans picked up 13 seats in the house, picked up nine in the senate, they have control and obama has gone a little bummed because of economic news. so they thought that they would be playing on offense and rydell they are not. i can change overnight. but i did not think that we would be in the situation so soon after the election where republicans are divided and i'm not sure what the next step is. neil: a snapshot in time that is not encouraging for them at this point. we will watch it closely and we thank you. okay, howard dean apologizing to our soldiers for what he said about the movie "american sniper." but not about the people who have seen by the millions the movie. so how is it such a blockbuster doesn't garner lots of best picture wins? ♪
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neil: will "american sniper" gearing up for a big box of week right now only best picture nominee grossing over 100 million domestically. does that give it an edge? that depends. that is a heck of a lot. peter. good to have you what do you make of that. in eyes of some in the academy a blockbuster hurts itself. >> there is gold and glory. idea of a search for fame and ever lasting recognition is garnered from an oscar everyone that dies, oscar winning so ando died. all the way from you know, birth to grave you search for that
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present. but for gold, studios. the oscar means something. but the gold means more. looking at "american sniper"." in academy. they generally vote the artistic merit. but they are influenceed by the bigger picture the academy really wants big pictures, that is why they expanded the list, they make money withty of ratings for -- tv ratings efficient the oscar show. neil: have you movies that made a ton some have not most of critically acclaimed. i was looking at the list on and on. i think your films have earned more than 3 billion, i don't think anyone else tops that.
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but i am wondering whether the academy goes back to you peter and other gifts producers directors and what have you saying great film, buts public loved it so much, we have to honor those the public did not appreciate and see and bring them to the 4 front the forefront and you have to take a chill pill. does did work like that. >> no. the 6 or 7,000 members of the academy vote. neil: is that how many there are? >> yes their units vote, but they are influepbgsed influenced by the largest voting bloc, almost no films that are academy nominated came in january february, march, april m m m m june, july, they are almost always in the end of the year, they are
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currented for the award. what they vote, i think they vote more their heart and maybe their own ego. neil: much was said from extreme left like michael moore and others, "american sniper" glorified violence. yet academy did not seem much to care giving it 6 nominations. even with that bias, if you buy that. if still got 6 nominations. are they politically driven, and motivated. by that definition, "selma" should have swept it did not. >> yeah, but i think there is a lot of political fodder going on also politic that does not tran end national politics, it is inner mural. you know clint did not get
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nominated. but idea that maybe that -- politics of some voters. neil: this is a dumb question, do different people decide different categories? >> yes the -- initial voting is category act others nominate actors and directors directors. the crafts nominate craft then whole academy votes all of them on the final ballot from 5 or 6. neil: interesting. >> all right so from nam nation now they judge according to are they affected by any of the press, positive or negative? post the nomination? >> i i think so. you can't help but glance at everything from ads to media and critics and news and yourself talking about the film. you are influenced. some of these races are close. between different actors, directors, pictures. but what really happened people get rewarded for their body of
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work is michael keaton winning out, over a young man because of his body body of work. like john wayne got awarded late in his career, not necessarily his best film, people vote emotionaly not necessarily intellectually. neil: peter you should do something with the movie you woulding great. >> thank you. neil: howard dean apology that is ticking off tea party. >> i am apologizeing to the veterans, i have not seen the movie, i think it will is wrong. i am not apologizeing to the right wing nut jobs who have been twittering me. me. neil: what do you make of that? is that a havass a -- havass apology
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or what? >> very much so. millions of americans most of them not veterans, who have gone to see this wonderful film angry, only reason they will see the film they are channeling their anger by watching this. that is absurd, and upsetting it should not only up seat tea party american or conservatives but all patriotic americans. neil: i think to your point earlier, with other groups, someone broke down who has been going to see "american sniper," more than half of women young women at that. who don't have a tea party in their background or label. so that is a bit -- >> tea party -- they are tea party in waiting. neil: so, i am wondering. when you hear the likes of howard dean, and michael moore and others, and seth rogan
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saying what i men to say was -- meant to say was there don't they actually help the movie they are vilifying? >> they do, and they also help the tea party a lot of conservative americans out there. they are vilifying and isolating themselves, if you don't believe me, you know, go to the washington post last year they did a poll on pop laserty or what -- popularity or what they hopeed to reveal unpopularity of tea party they found over 65% of republicans identify with tea party about half of americans identify -- independenting identifyindependence identify with the tea party 20% of democrats also identified with the tea party. i would hope that republican establishment would get that message in particular when hillary clinton is trying to channel her inter elizabeth warren and try a populist
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appeal. the party that appeals to populist conservative values that are incorporated by tea party moviement will be the political party that wins. we do not want a repeat of 2012 where millions of conservative americans voteed with their behinds by staying home. neil: the tea party is populous, not a left to right thing it is a saving money protect our basic value thing that all there is to it, they are not nuts tphaoeupbler thank you niger thank you very much. >> thank you neil. neil: yours truly has just forced the president of the united states to blink. you don't have to thank me now. but be sure your kids have a college future after all. you're a whole airline... and it's not a ticket you're upgrading it's your entire operations, from domestic to international... which means you need help from a whole team of advisors.
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nothing can reverse copd. spiriva helps me breathe better. sfx: blowing sound. does breathing with copd... ...weigh you down? don't wait ask your doctor about spiriva handihaler. they challenge us. they take us to worlds full of heroes and titans. for respawn, building the best teractive entertainment begins with the cloud. this is "titanfall," the first multi-player game built and run on microsoft azure. empowering gamers around the world to interact in ways they never thought possible. this cloud turns data into excitement. this is the microsoft cloud. neil: and you wonder millions call me a financial -- why some
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call me a financial super hero, okay why just i call myself a financial super hero. well for those who doubt my influence at the white house and wonder about all those calls that are not returned by the white house or the president himself saying, he does not watch me at white house proof somebody is watching this super financial hero at white house. because the president just reversed himself on ending those tax breaks for 529 college plans, maybe because of something i said? >> i am not a huge fan of this, but it is a bone we throw at the middle class. that is a big incentive to just sort of go ahead and keep saveing, now not to say that in and of of itself stops plans but it stops the incentive to have the plan to what end. neil: to what end indeed, after
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this president nixing it. relax america your 52929 is safe. katy pavlich in awe of my power. you don't have to thank me now it is just what i do. democrats also urging president to do what i said. >> i am looking forward to when neil cavuto super power financial comic book comes out that would be a collector's item. neil: in time, in time, this is not about he, but me, it is about the influence i have on the president. >> he claims that only benefited rich. but it actually benefits middle class, looking at way that middle class saves for college they don't have a lot of options, they don't qualify for
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government programs, because their income is too high, they don't have as much money as super rich. so it really, you know democrats, conservative, republicans all were against this plan it impacted the middle class despite the president saying it would only impact the super rich. neil: even liberals, chuck schumer saying, you know president, truth be told that crowd, they get the breaks they don't have to rely on the government for loan support you spite them by taking that away. make then essentially, you know prisoners of the government, someone woke him up, it began with me, but the president said this is stupid. >> that is the -- i don't think that the president realized. i do believe he got phone calls from the likes of nancy pelosi.
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she was on air force one with president saying this is a terrible idea, there are people calling in saying that will directly impact them, they are middle class families, it goes back to arbitrary numbers of $200,000 of,000 of income, if you are a small be owner that is not that -- a small business owner that is not that much money and you are middle class. the president is under this misconsumption that if you tax rich more the the in-- lower brackets will benefit more, that is not true. neil: not true, and cost of college these days, you could make a half million that is not going to cover it. >> >> it is absurd that president know said he wants free community college that is taxpayer funded, that is not freeze. andfree and yet wants to punish people who are safeing for college themselve doing the right thing.
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this is ridiculous, i am glad he made the decision, thank you neil cavuto. neil: thank you super girl, katie. that is what i do america this is what i do. i know i am going to get e-mail from people. is a national internet sales tax coming? some republicans top pass it. but a number of states are saying woe that is unconstitutional. now former mayor of new jersey, is that right? a number of republicans in washington looking at this. >> before that, i do want to thank you myself, i opened my grandson who is 9 months old 529 about 5 days before the president's speech, i was shocked, i was blown away. neil: when your grandson grows up he can thank me later. >> well, this is shocking to me,
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because, good lot bill will require retailers to levee a sales tax based on the state in which they may be locateed for example amazon in new jersey they have to levee a 7% sale tax in all 50 state purchases even if state without a sales tax people in new hampshire oregon, montana, delaware, are now going to pay a sales tax according to national concounselor is unconstitutional a violation of 10 amendment it imposeed -- it is an imposition of sovereignty of the state. neil: a big pot of money. they attempted i agree with you, they will keep running by this and try together again and again. >> but these are republicans. what happened to republican mantra of cutting taxes? it is a money grab, they are taking money out of the private
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techsector that i could put in my grandson's college fund, and it seems like republicans did not get it. >> are right while i have you here you are very big fiscal which of, you whichconservative, you are known for that. if chris christie runs for president, he will be judged by his governor. >> new jersey economy is no better off than it was 7 years ago, to be blunt i like him when he does the right thing. but we still have highest property taxs in the nation, one of the highest sales tax worst income tax we saw a big customers mers so companies mercedes ben move out of there because of the sales tax. neil: you don't think he has a compelling case? >> i think his economic background and policys in new jersey will haunt him through any pry primary process. neil: your name comes up as future gubernatorial candidate.
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>> no, not on my agenda right now. i made a couple of good runs, i had a terrific run against cory booker whose name is coming up by the way advice presidential candidate, i am not there. neil: thank you steve and your grandson it thank me years from now. apple, at an all-time high. sitting on a $178 billion cash horde. what should tim cook do with that money? fox business all-starss with some handy ideas stay with us. there's nothing more romantic than a spontaneous moment. so why pause to take a pill? and why stop what you're doing to find a bathroom?
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neil: all right, in tonight's biz blitz, forget how much money apple made. take a look at how much apple already has. $178 billion in cash which is more than the market cap of all, but 17 s&p 500 s&p 500 companies and more than bill o'reilly is worth. think about that. tracy, that's a lot of money. what does tim cook do with it? you know shareholders want him to spend it. >> now, that the that this is out, the government will want it. the credits will disappear because of this. apple will do what it can to get this money overseas. why not it's theirs. otherwise, it will be tact and taken. >> guys like carl icahn were pushing him to spend that money when it wasn't as big as it is now. what does he do?
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>> give every american $500. the iwatch, i believe will be the biggest game changer ever. with that money, they need to do an acquisition that is big. they did eight last year. only beats is the one known by the public. so maybe yelp. what's that? neil: they reversed on that. it wasn't really worth it. right? >> yeah, but it excited the stock. to get shareholders excited it's more about ideas. neil: i hear you. >> why does apple need to buy any company? they would get distracted. tim cook is playing it right. he's putting the money back into the stores and manufacturing and data research centers. he's doing it exactly how he should be doing it. forget david and carl icahn, tim cook has his own legacy that will be beat -- he could beat steve jobs. he is doing it right. >> he absolutely is. for a second, apple's
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effective tax rate is pretty darn low. people will take notice of that. neil: with this administration, you don't need to worry. >> apple could just say forget it. we'll move -- neil: iphones in asia? >> they make a lot of things overseas. they keep the money over there. >> so what. neil: don't yell at me. who yells at a superhero. >> this whole debate about outsourcing is so lame. neil: enough human. >> buy apple. neil: on to issue two. remember this promise. obama: you like your health care plan you'll be able to keep your health care plan, period. neil: period. really? apparently that doesn't apply to the 10 million workers expected to lose their plans in the next five or six years. that's how many will be dropped out of their
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company coverage as a result of all these obamacare rules and requirements. that could be a conservative figure. >> that is a conservative figure. by the way apple has -- neil: i beg you to stop. jared, what do you say? >> i say apple should get into the health care business. first of all, this is why you don't make broad sceepg changes with that or no research in a short period of time. frankly, this you can keep your plan lie is one of the smallest lies i'm worried about. i'm more concerned about how this -- this act is going to change the way that we treat our patients and the quality of our health care. i we'll be able to keep our plan. >> i'll kiss butt and answer neil's question. neil: at least one of you will. you should try it now and then. >> i'm stealing lizzie's facts.
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31 million will be uninsured after -- neil: the whole idea was to make sure we had zero. now we have 31 million. what do you think of that? >> nothing. neil: exactly. on to issue three. the federal reserve saying the economy is solid, what about companies that are cutting their jobs and outlook, both. that doesn't sound solid to me. >> it's not. interesting statistic three weeks ago analysts were looking for 4% growth. a lot ofly the blame is on oil the commodities. look at a lot of these company's forecast, it doesn't look great for 2015. neil: they're obviously running things in. i'm wondering why, tracy. >> yeah, but even at the slowest snail economic pace, we can afford to increase interest rates
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this drip is painful. >> i disagree. neil: well, you know, you're making a great final. >> thank you. neil: i was looking at this. these companies warning. i'm wondering if they're precoming up with an excuse though. all of a sudden, just in case we're not firing on all cylinders, this. >> it's been the game they've played for years. and it's worked. actually, i have to counter tracy's point or her idea that we should raise rates. believe it or not, a strong us dollar -- the euro is doing nothing but going down. a large part is overseas. the stronger the dollar gets, it will get worse. yes, neil, you're right. neil: that's enough out of all of you. we have an all-new "strange inheritance" coming. this show is a big old hit. i saw it coming. we're shifting things on this show. i'll let you inherit
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some of the prized cavuto items. stay tuned for that as we appreciate what's going on with you folks and this show that touches base with you folks. "strange inheritance." >> a world famed musician dies. >> his love. his heart. his voice. >> it's more than 300 years old and could be worth many millions. this strange inheritance is more than about money, it's about a father's legacy. >> it was clear to us that he did not want it to be hidden away. ♪
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