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tv   Cavuto on Business  FOX Business  May 24, 2015 8:30am-9:01am EDT

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puzzle on her ipad. so ramon can shop all he wants but happy is more an intellectual person. >> who is smarter? happy or ramon? #bullsandbears. we'll be counting the votes. neil is next. well, remember to spread the wealth around. don't look now, but these guys are bringing it back around. >> most americans understand that the deck is stacked for those at the top. and i am running a campaign that is very clearly stating we want to reshuffle that deck. we want to get back to having more opportunities for more people so that they can make more out of their own lives. and i think that's exactly what america is looking for. >> at a time when trillions of dollars in wealth have been shifted from the middle class of working families of this country to the top 1/10 of 1%. >> this legislation would impose the speculation fee on wall street investment houses and hedge funds. >> that my friends, is adam
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lashinski's lullaby. welcome, i'm neil cavuto. she wants to reshuffle the deck and he's all but giving away the deck. but are we the runs who end up getting decked? it's time for ben stein and charles payne, deegan mcdowell and adam lashinski and charlie "yeah i'm in playboy" gasparino. ben stein you first. the class warfare is alive and well but what do you make of this? >> envy is alive and well and part of human nature. it's very sad to meet at the democratic party to rely on envy after all these years, but they are dealing from underneath the deck. they are from under the deck because compulsory equality means compulsion by the government. equality of opportunity, equality before the law. equality together in decent
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education, everyone wants that but come sulspulsory equality spreading the wealth around and giving it to people who are not the most hard working people that's compulsion. i want in the least possible compulsion in the system. >> adam the one thing i admire about hillary clinton on this is she wants to topple the top 1% meaning her and her husband. leaving that aside, we tend to believe there's a lot of wealthy democratic candidates and those who ended up being president, john f. kennedy and fdr. >> lyndon johnson. >> absolutely. defense is a very good offense, but don't you, even you, adam find it offensive? >> i mean roosevelt is a great example. he was hated by his own people. he was seen as a traitor to his class was the expression that was used. no i don't find anything of this offensive.
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i think -- >> you do a little bit, adam come on. a little bit. >> here's the little bit. let me finish charlie. here's the little bit. i think a speculation tax is a dumb idea. i actually think that the banking regulation that we have done has been a very good idea. so the banks are whining right now they can't make money anymore. i think we are better off with the banks more regulated and safer. but i don't think we should stop people from investing or from gambling even with their investments. so long as we have good rules in place to protect people. >> that didn't answer my question. i have no idea what you're talking about but i agree. i do know what he's talking about. but what he's saying is that bernie sanders wants to tax trade. that's a way to raise money to i guess, you know equal things out. >> the outrage here is the hypocrisy. i mean at least bernie sanders walks the walk. he's a socialist. hillary clinton is a complete and total utter hypocrite. that's the bottom line. she's been sucking at the teet
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of wall street for years and years. she's the one, she is part of the problem. she's the one that helped make the rich richer the poor poorer. she supported an administration that has done very little in terms of helping poor people. this administration may have given a lot of social welfare promises but the rich people got a lot richer. they get richer when -- the middle class and the lower classes move up the rung when there's decent fiscal policy like lower taxes. that's what generally happens. and what is fascinating about hillary clinton is all the hedge fund device are her friends. >> they love her. charles? >> the people should be outraged at the poor middle class people. if adam is not, they should be. because essentially they are being taxed. >> adam is not remotely annoyed. >> they are being hit by the politicians and it's time to ring a bell. first and foremost just this kind of talk perpetuates the victimization thing, it sells
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hopelessness. and then on top of it we pulled a record amount of money. the federal government pulled in a record amount of money in april. almost $500 billion. it took in from higher taxes, corporate profits, it took that money in. has not alleviated the pain of anybody watching this show. it is the wrong thing to do. all they are doing is using these people as a front to big bigger more powerful giant government with no real solutions. it just makes it worse, not better. >> what do you think? >> it comes down to one of two solutions if you want to close the income gap. if you are a democrat you bring the top down and take the money from wealthier americans and hand it out to lower income americans, which the democrats have already begun to do. which is not yet working. or you try to bring people at the bottom up by growing the economy and creating jobs. that is the american dream. the other, what the democrats want that's europe. and it's a disaster. >> who gave wall street all these benefits back in the
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1990s? it was bill clinton that deregulated wall street to such a great extent you created these monstrosityies like citigroup that blew up. she leaves that out on each and every one of the class war fair tirades. >> ben, what do you make of this? >> that's exactly right. the repeal on the laws of commercial banks to investment banking that really jammed everything together. and that was what the democrats were whole heartedly in favor of. there's no benefit for the ordinary guy, the ordinary janitor or unemployed male worker looking for a job to tax a person as rich as warren buffett any more. >> ben gets at the truth here. they make it sound like screwing rich people is going to help the guy out at walmart. it is not. it is going to make your job prospect a lot less relevant. you are going to be worse off. >> but you're misstating the
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case. >> you're talking about a transaction tax. >> bernie sanders was saying exactly that adam. >> and it's not the best idea but here's the point. we all know that we have now decades of data over bipartisan administrations of a growing income inequality gap. so the question is the question is do we do something about it or pretend it doesn't matter? everything will be hunky-dory. >> adam why is it a problem with a lot of rich people and less important people don't get hungry they don't have a roof over their head why is it bad for them to be rich people. why is that bad? >> your way of doing things is not working. we have had a class warfare of -- >> let me answer ben's question. >> i'm going to say something that i bet neil will agree with. you let it go on long enough and people get pissed off.
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and then you've got problems. you have societal problems. >> but that makes no sense. that makes zero sense. your worst off than before. >> they are demonizing the people who are the great american success stories, which charles talks about all the time. i look at the forbes 400 and i see bill gates and mark zuckerberg and larry ellison and phil knight. i see incredible success stories, men who created millions of jobs. >> don't you partially recent you are not on that list. >> i only recent -- >> there's a difference between recenting being on the list and recenting resenting those on the list. >> if the economy grows it at 2% or 3%, everyone across the board from the poorest to richest grow their assets their wages by 2% to 3% that chasm
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will get wider and wider and wider. >> then focus on the economy and not inequality. >> we have had seven years of focusing on inequality high taxes. >> more than that. >> the lbj society is seven years old. >> the wealth gap has gotten greater. and it's not working. >> it's gotten greater in cities and states run by democrats for years. detroit, baltimore, chicago, wherever you go a democrat has been in place there for 50 years and have made it worse for the policies. >> you have not know any republican screw-ups? >> in the major cities one the beacon of the world, detroit was the paris of the west. >> i think you're a hater blinded by your politics. >> one last thing. you and a very wise man named ben stein earlier this week on your 4:00 show were talking
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about, there's a lot more that the democrats can take from the wealthy in terms of how high the tax rate can go. >> absolutely. you're absolutely right. >> still won't help the poor. still won't help the poor. >> i agree with you. >> but you still are a hater. when we come back forbes on fox ready to go. david, what do you have on deck? hi neil. the president says climate change is an immediate risk to our national security. but some here say isis is the immediate risk we should be worried about. and no college degree no way you can win the presidency. not according to this college dropout. so is the cost of college worth it? we'll debate it at the top of the hour neil. thank you, david. but first up here forget about asking congress to take a hike.
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in order for us to get a raise, we have to go to the public and prove that we deserve it. well i think we do. the cost of living here is causing serious problems for people who are not wealthy to be able to serve in this institution. >> say what? the annual salary of $174,000 not quite enough for this florida democrat? he's demanding a pay hike for lawmakers and wants to keep up with the growing cost of living. his point, charles, is that since 2009 since we had a hike in pay there, you know obviously, back to the tating
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argument congress has two homes and a lot of them shack up in the same place in d.c. i'll leave the details to your imagination, but the point is that it is not what it seems. it's not what it seems that a hike is in order. you say what? >> having money is not as east -- $174,000 a year how many americans would laugh that someone would be crying about how tough it is to get by on $174,000 a year? i mean -- >> i take it you're against it. >> he should quit or be quiet. >> this is the circle of idiocy that is washington. the cost of living goes through the roof. housing prices whether you are renting or owning goes through the roof. and then they want government to essentially get bigger in terms of the cost because they now need a raise. please make it stop. >> that was actually brilliant. >> it was. >> very good. >> very very good. here's the thing, that in the
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argument here that they are going to look for more money. that they have not gotten more money since 2009. >> and i feel bad about that. >> do you feel like it should be a paid performance? these are the standard metrics to pay you more. why should all congressmen be paid the same amount of money? >> my view is that we'll never agree to that performance, the standards. the liberals say it is passing more laws and raising more taxes. the conservatives say it means accountability. but there are different ways of being accountable. no we shouldn't give them a raise and make life miserable for them. if they want -- my view is this if they want to be public servants we should pay them basic room and board. >> but then ben stein, here's the danger that we end up getting, a congress filled with millionaires which is kind of what we have right now. and do you want that? and did our forefathers envision that? >> no. i think these guys work incredibly hard. they are really out of the job
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on seven days a week many hours each day. i think they are under paid and congress is paid the same as a starting lawyer at a big law firm. less than a standard banking. they work hard and incredibly long. i have no problem if they raise their pay to a million dollars a year because they really work very very hard and i think they deserve a lot more pay than they get. i think they are wildly starved in terms of their pay. this is a joke. they really work very very hard. >> i think subway drivers work harder. and i think people that work for the new york city sanitation department work really hard. i think they should get paid a lot more money. we should point out, these are government jobs. they have certain hours. >> adam what do you make of that? i don't know why it would go up to a million that ben mentioned, but i do think they deserve a raise. go ahead. >> i don't either but if we focus on the house, 435 people who are helping run this country. and, you know i think what i
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would do is two things pay them a lot more men. xhisz xhisz commencery in the public sector. and then make it difficult for them to make money elsewhere. >> but you interrupted him. you missed a key point in that. the second point would make it difficult to do the criminal, heinous things they do. >> while their spouses become millionaires while they are in office. listen you're a public servant! either you want the job or you don't. you ask people to vote for you. >> charles, why should they be starved? >> we have people in the military i was in the military. there's only a certain rank i could get up to period. if i wanted to do more in my life i had to get out of the military. if anybody deserves a raise, it's the men and women in the military. >> charles, they do deserve a big raise in the military. police need a big raise. firefighters deserve a big raise. i think the public sector is
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generally not always greater underpads. the supreme court justices -- >> where is the money going to come from? >> they can cut a check and print out the money for it. >> public servants you don't have to do it forever, you do it and you go. >> isn't your dmad a union? >> yes. >> all right! someone has to tell your boss it's a three-day weekend. because if you are sick of getting e-mails when you are not on the clock, how about suing [beeping]
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ooo come on everybody, i think this is my grandson. [lip syncing] ♪little girl you look so lonesome oh my goodness. ♪i see you are feeling blue ♪come on over to my place ♪hey girl ♪we're having a party happy birthday, grandma! ♪we'll be swinging ♪dancing and singing ♪baby come on over tonight
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i hear that guy. anyway so much for 5:00 quitting time. did you hear that dozens of workers are filing suit because their companies expect them to respond to e-mails even after the whistle? but do they really deserve more dough for the late-night grind? charlie says grin and bear it it's all part of the job.
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>> i'm pretty sure i'm going to be sued because -- >> it will be a long line. >>'re just going to get hate mail. >> listen, i'm notorious for doing stuff like this. you got to like you know, have some common sense and some decency. i don't think calling people up unless a major story is breaking is warranted. we're all on the clock. that's just the way the new economy works. >> if you're answering e-mails and phone calls for 15 or 20 minutes outside of work that's one thing, but if you've got gas bag over here running you in circles, wanting you to help him report out a story for 12 hours on a sunday -- >> it moves the market. >> in a lot of cases, it's overtime. >> great news move the market. >> follow the government follow the federal government regulations. you pay them overtime. >> i buy them coffee. >> my employees call me thevolent they quit to get a vacation
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then reapply for the job. listen success is not 9:00 to 5:00. that's the reality of the world. >> if you're paid by the hour you should get paid more. if they call you up late at night to do work. if you're in a salaried position you were you shouldn't get paid more, it's that sinl pell simple. >> for the salaried workers, it's just bad manners for bosses to do that to them but there's nothing you can do about it. >> an opportunity to make more money. give me a break. >> you should let people relax and enjoy their lives. >> charlie gas bag over here call you on midnight on saturday. >> i'll call you any time you want. >> charlie and dagen, look at that. we have to go. meanwhile, first job, first check, still living at home with your parents. our pros have the stocks to pay off those loans and get you out of the house, kids. listen.
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>> adam. >> vanguard total stock market. global exposure very inextensively. >> ben. >> adam has learned a lot from me. dvy, dividendeaeaeaeaeaeaeavy index funds. >> we continue now on fox. the very same week we're seeing isis soldiers blitzing through iraq and security and a dozen people on our continent arrested for allegedly trying to join isis and terrorists overseas our president saying the immediate risk to our national security is this -- >> climate change constitutes a serious threat to global security. an immediate risk to our national security. and make no mistake, it will impact how our military defends our country. >> is he right? hi everybody. welcome to forbes on fox on this memorial day weekend. let's go in focus to find out.

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