>> undervalue and trading. and bill, china is over heated and so is this stock. >> that's it for forbes on fox. keep it right here. we'll continue with cheryl casone. ♪ >> hold on to your wallet in 2012. gas prices are heading up. along with the cost of heating your home. you can thank all . new epa rule that is are kicking in. will it put a chill on any chance was a recovery in 2012? i am cheryl casone and welcome to carbin' in. wane rogers and tracey byrn the and garyedavid. >> tracey, it is interesting to think that the epa and new rules are going to make it harder for the economy to recover in 2012 which we need?

>> any time the government imposes new rules, it costs mon yeas a result it gets passed on to us. refineries are shutting down and oil is oing up and gas is going up. and it is going to continue to get worse when the rules kick n >> 60 percent wayne of the plants that could be affected have already completed these restoration issues. it is a coal fire plant. and they have come on line and made the changes. do you think that if we do the other 40 percent that the economy will suffer? >> it is not so much 40 percent is going to suffer or not. the as a matter of fact of the matter is people have complied, that is to say in a free market system you believe in a level playing field f. i spented the money and part of the 60 percent that complied with the rules, why should my competitor escape with complying? everybody should comply or no

one should. they invent rules every now and then, every year or three or four years they come out with something stricter and it costs the trea more money. if you are complying already and many people are. the rest should comply. >> the reason i bring it to about the coal fire plants shrosing down. three plants here in the noheast and that could affect the heating oil prices and economy over all for the northeast, is that a fair argument? >> it may have something to do with it, but there are a lot of other factors is the global energy market that dictates prices and there is competition among the pipe lines and refineries and there is a host of factors what is important with epa, they have in their studies and research and in their watch dog capacity, they have seen other

additional costs whether it is 11,000. that are dying in premature births or asthma attacks or hundred thousand kids suffering from acutaz mampt those are costs that our country is bearing . they are saying let's have preventative medicine that is cheaper than waiting until it gets to crisis porportions and everybody suffers a higher costs. it is retrofitting the plans to avoid those deaths and not see them as collateral damage. >> the issue of cost. it is 9.6 billion annually. is the expenditure worth it to maybe clean up the environment as a potential loss to economic recovery for 2012? >> first of all it is it an estimate and we know that it goes three or four or five times higher. i am for the environment, business has done a great job

in the last few decades. this epa has a whip out and trying to make them move faster. you have a mission down 96 percent over the last two decade and sulphur and nitrogen down 50 percent and business is getting the job done. leave well enough alone. you have to be a partner with business and not the task master and that's what they are doing right now. >> the issue goes back to costs. this is the most expensive rule in epa history. the power companies, they keep the lights on across the country and they are concerned about the cost of this. is that fair? >> i understand all thav. you can't ask for some people to obey the law and others not tompt okay, we have a law against murder. half of you can murder people and the other half can't. that is insanity. you can't ask people to spend all of their monies f. i

complied already and taken it out of my budget and complied with the lawwhy should the other guy get away without it. wait a minute. the economic question if you are involving money. anybody who does this, it is good for the economy because it creates jobs if you have to do all of these things. because people have to do the work. >> i have to speak on behalf of my boys who are not here. the capitalistic system would pull it. and consumer would demand it . smart entrepreneurs and business men of the world would doand layfield would say we don't have a national energy policy and our national security is at risk. global pressures are putting oil pressures high. we shouldn't be subjected to that on a daily basis. >> tracey.

>> let david respond. >> on a global scale, we pay the cheapest energy cost. if you fill your tank in europe will find double the prices. >> swollen taxes. and whatever it may be. we are paying cheap costs of energy relative to the rest of the world. we might as well also attribute to that to saving lives. >> you are saying therefore an increase is justifiable because we pay less than the world. >> that's not what i am saying, tracey, what is justifiable is saving lives and preventing health care crisis that can emerge from this just like with the bp oil spill. if we had taken preventative measures we would not have a ripple affect in the economy in the south. >> to be fair. >> those measures without spiking too much higher costs. >> all right. i am sorry, wane rogers you are trying to get in.

wane? >> to tracey putting aside what john and johnathon might say. clear air act was passed 20 years. if you can't comply in 20 yearings. no one asked you to do it overnight . 60 percent of the people have done it and the rest should do it. >> look. layfield and johnathon are not here. go look at the price of coal stocks over the last year with the attack on the coal industry. they are down 40 or 50 percent. coal industry is heading in shambles because of too many rules and agendas to go to a green energy thing that may or may not work. my issue is the never stop rule a day that comes out of the epa. i want a good marriage between the epa and president obama's

former economic advisor . tea party favorite. west and donald trump. many more and that is tuesday starting at 8:00 p.m. eastern time. coming up on this show. as the ball drop in time squares tonight. minimum wage will rise. that will cause the unemployment rate to rise, too. >> invasive pat downs are so fun. they are coming to train a bus stop near you . mass expansion comes with a big prize. is it worth it? this was the gulf's best tourism season in years. all because so many people wanted to visit us... in louisiana. they came to see us in florida... nice try, they came to hang out with us in alabama...

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beginning tomorrow, minimum wage is rising. supporters say it will help workers. or that could back fire and hurt job creation for 2012. how so, gary? >> it hurts it is low income worker. bottom line higher cost to business. less hiring and economic logic and fact. every study is shown a 10 percent increase in minimum wage and knock down one percent of hiring and if you lower the minimum wage businesses will do the job. many countries pay higher than minimum wage. it is 360 million in additional gdp for 2012. >> and the thing is. you are looking at what the

guys getting the bump. most people are below the poverty level to start with. you are talking about the minimum wage. it is just eight states. number one and number two. this is going to raise somebody to the level that will be approximately 15 or 22 to 7000 below the poverty. that is insane. you are not talking about a big bump. it is only eight states. it will not affect the bottom line. >> the low income workers have seen wages fall two percent . so maybe the raises are can. >> bloomburg pointed out the statistic from 19scen to now. with inflation, that they have seen a wage decrease by 20 percent and going to wayne's point. on average 30 percent bump on a person's paycheck and coupled with the pay roll tax cuts that we saw and hopefully

a year extension. that gives confidence in the consumer markets and we know our economy is driven 70 percent by consumers and with demand you will get employers hiring more to the point and to go to the point of whether or not it leads to less hiring. in fact it probably increases it because of the increased demand. >> does it help or hurt the economy. >> look, i understand it is only 30 cents. you extrapolate that and that hits the pay roll and bottom line. businesses should have the opportunity to pay what they choose. again, the market will man date what should be given and the notion of minimum wage. it is not if you stay there forever. you should have aspirerations to make more money. whether you start at 250 or 8.50. we as the american people

should make more money. >> to be fair gary, 18 states and dc are nickel above. many states go above with their own requirements. this is a few states as wayne pointed out a few moments ago. this is not the country. >> government can guarantee and set wages, but they cannot guarantee the jobs. it is simple as that and it is a known fact, you dictate cost to business. business will react to the costs and you can say 30 cents all youment. a lot of big businesss and the costs do add up. i rather not a minimum wage. business will do their job and market speaks for itself. and the person will walk to the next door and raise the price to attract it. let the market be the guide. >> cheryl if i can say in the free market, in letting it go as it has gone with the minimum wage not increased we

have seen a wealth gap in this country that is equivalent to china and scrilanka and rwanda and to say that free market was operative and put us on parwith those countries rather than building the middle class and consumer demand. >> but wayne, i think we pay better than rwanda. i am pretty sure we do. >> wayne? >> no comparison. first of all, the debate, excuse me, it is not whether or not we should have a minimum wage. all due respect, gary, we are nolt saying that is good. you are talking ideology. that is here. you want to get rid of that, that's fine. what you are asking here is whether or not the states should raise it 30 cents. if that is the debate it is meaningless and will help the economy. >> tell or not create jobs. >> it is a trend and everyone

start to raise the minimum wage and what happens. you are eat negligent bottom line. i don't know how eating in the bottom line is a good thing, david. >> thanks to you all again. expanding heads on security. tsa looking to pat you down in more places when you travel not just in airport. taxpayers are looking to ground the plan before it takes off. standards. and that's why i trust nature made. the number one pharmacist recommended letter vitamin brand. learn more at naturemade.com

tuchy feeling tsa. and the costly plan said taxpayers saying hands off.

hello, everybody. i am uma from washington. coming up on america's news

headquarters. the countdown to the iowa caucus is on . candidates are chris crossing the state in the mad dash on the finish line. we'll have the latest and one on one with governor rick peryehis family: controversy in virginia. voters are fired up with a loyality oath the gop wants them to sign. we'll tell you why the party is playing hard ball . there are bringing in the 2012 in the world. some parts of the globe. spectacular fireworks. from the world exotic location. we'll show you those and we'll have the latest on the rest of the top stories coming up on america's news headquarters. join us on new year's eve. stay with us . tsa is looking at stuff.

and then the agency gets nearly eight billion a year and time to tell them hands off to the tax dollars and grandma. let's budget better. and we are broke. let's just say it. >> we need more biker teams. >> and if it is a question of safety. once you create the agencies as we know it looks like alphabet soup and they get more and more money and they want more power and do manage else. -- something else. and on the other hand you got to get rid of it and privatize it.

and they can find it in so many places. look, the number one job of our government is safety and the defense of the american people. i am all for doing whatever possible and we don't want to wake up have another 9/11 and impacts the economy and in such major ways going forward. go to the ferries and trains and planes. i want to be safe. >> david, you think it is a good use of taxpayer money. do you think it is the great use it is another department like wayne mentioned with homeland security department. and insisted on greater coordination between f.b.i. and cia and defense and heed warnings from the field of

agents and say it was not done with regard to 9/11 or heeded the warning from dick clark on al-qaida. we would not have had to exact the costs on the american taxpayer and would have tightened our ship that we had a foundation for. we'll see the everincreasing costs. we do the things and fine tune the existing agencies without continuing to grow the new ones like homeland security. >> that is tracey's point is accounting and money management and basic business management. it is a cray idea. >> i know, i know. wayne is right. agencies flex their muscles and think they should be bigger or badder and more burrcratic waste. i am all for security. we can do it in your budget. >> since 9/11 we caught a lot of bad people. this is a good thing that

government is doing to sit here and think we need to do less or burrcratic i am sorry, i want my family and friends safe. >> but it could be done cheaper. and anything can be done cheaper. i can justify anything that the government does. everything that the government does is good. they do this and that. that is all fine and dandy. you have to top it at this point in time . they have to be accountable. >> david mercer thank you for being here and happy new year. >> same to you and the viewers. >> coming up. ringing in the new year with the stocks that will have you partying all year long. name to buy now. that's next .

>> a special what do i need to know for 2012. wayne first to you? >> well, you know, i like two stocks that are beat down. i like to see something coming

back. i don't think you can pick stocks that had a terrific record in this year. i am looking for thing that is are recovering and i mentioned last week jeffreys that were beat down unusually for wrong reasons . the other one is ucledia. solid management team and tell come back in 2012. >> gary? >> i like master card. people love to swipe credit card and they get big every time you do it and stock held up in a tough market and leading the market up and i think it will have a good 2012 whether the economy slose down or speeds up. >> tracey? >> and dow will be flat at best blame it on europe. but the four dollar gas is the norm and foreclosure on the rise and color hot for spring. >> color for spring. pink or yellow or red. >> all of it at the same time. >> that's it for the