>> brenda: gary b, i'm sorry, jim, go ahead. prediction. >> printing money all over the world can't print more gold. i like gold etf, gld. >> brenda: jonas. >> 10 million dollars a month, bear. >> brenda: gary b your prediction. >> amazon killing it up 30%. >> brenda: all right. jim, bull or bear? >> valuation too high. give me ebay instead. >> brenda: neil is next. >> you want to get this number down? how about starting by getting this number down. welcome everybody, i'm neil cavuto and fox on top of getting on top of those numbers. and a 16 trillion dollar debt that keeps growing and a tax base in which 47% of aren't paying and the latter create ago dust up for mitt romney and whether he was just writing these folks off, prompting the first on fox clarification from mitt romney, telling me he was just pointing an alarming trend out. that 47% figure, which is

about right, is it too high? do you think that the level should be be closer to what it was in the late 70's, where it was in the 20's? what is an acceptable level? >> well, first of all, of course, you're right. there are a number of retirees, members of the military and so forth who aren't paying taxes and that's as it should be be, but i did do believe that we should have enough jobs and enough take home pay such that people have the privilege of higher incomes that allow them to be paying taxes. i think that people would like to be paying taxes. the good news is if you're doing well enough financially that you can pay a tax. >> neil: so, forget for the moment about whose nose is out of joint. focus on at that that 47% not paying income taxes for whatever reason and why it's time to get more people in the game now. and we've got dagen mcdowell, and gary, and ben stein who

has not been playing games himself, multi-tasking again, another great book just out, how to really ruin your financial life, and shockingly, it does not involve congress. and we're also joined by adam lashinsky and charlie gasperino. gary, to you first, the 47% figure, you say for a country it doesn't figure, bottom line, not a good number to have in average. >> an easy way to go about, if you're getting food stamps, if you're getting unemployment benefits, the government's giving you money, that adds to the deficit. if we can get you off of that, whichever way possible and get you into the jobs, not only is the government not spending that money, you're actually contributing to the economy, if the economy is getting better government receives higher amount of money in taxes. and you know, we're going the wrong way, the april-june numbers at that came out by the government. more than double the people that got jobs went on disability, and food stamps, if that continues there's no

way back. >> ben stein, how did we get in this pickle where that many pay no income taxes. i take nothing away from that, everybody is upset about that. the bottom line is that figure. how did we get to that point? >> we got to that point because we cut taxes on the rich, and we said that, also, we're going to simply eliminate taxes on the poor and the lower and middle class. it was, it was just typical 40 acres and a mule government give away, they're trying to buy votes, it was probably a bad idea. but there isn't that much money from those people, heck of a lot of them don't have the money. and the upper and middle class and-- >> so leave the 47% alone and put it on the other half. >> the main thing i would focus on as a long time friend of yours, if i may say this, when our friend mr. obama was on tv, he didn't know how much

the debt was. he did not know what the national debt that is incredible. what else does he have to think about? >> i think he knew very well, i think he knew very well. >> wouldn't say it. >> he definitely knew. >> and charlie, what do you make of this? i understand where ben is coming from, and maybe just, we can't get money out of this group, but you can't tell me 47% of us are in the position where we can't. so that puts the onus on the upper income, that puts it on the other half. >> and define what you mean by upper income. it's clearly not the warren buffetts of the the world. >> it's you, it's you. >> it's families that live in california, that live in new york that make combined income, combined of $200,000 a year, who has maybe five kids, and need to put them through school, who are considered by this president and by people who want to raise taxes as greedy millionaires and billionaires. and that is the sort of hipocracy of the whole notion, the tax debate that we're

having now. when you talk about tax, income taxes, you're not talking about raising on the super rich, you're talking about raising on people, on the coasts are-- >> are incredibly, incredibly middle class lives. >> adam? >> fine, charlie is changing the subject. remember, neil, what mitt romney was talking about was federal income tax, and of course, he was also talking about the lower-- >> talking about dependency, which is another big issue here. >> i understand, of course we would like to lower that 47% figure, everyone would like to lower it, neil, but we should remind people of two things, one, everybody pays into the treasury in one form or another, whether it was paid-- whether it's buying a gallon of gasoline, or other fees or i don't know, to a national park, and so on, lots of foreigners pay into that, too, and the other thing, we're agreed the tax code needs to be simplified. what it's about. a lot of republican bipartisan tack credits there to cause people to-- >> adam this week is not what

it's about. it's who is offended, who's getting zoomed and to feels like they've been slighted by mitt romney. and my bigger point, dagen will pick up with you, is here is where we be, and it doesn't look like a good long-term math model for this country? >> financially, absolutely not. you're correct. and also, socially, because when you have nearly half of the country paying not a dime in net federal income taxes, you have a disconnect with themselves and their homes and their families and the cost of government, and also, i do think that there's something wrong that we have that much of the country not paying a dime for our national defense and not paying a dime, not even a penny to pay for our soldiers. and to pay for their families. i think there's a problem. neil-- >> let me finish. >> it's not true, it's not accurate. >> it is, if you're not paying federal income taxes, you're not paying to fund the national defense. you say that out loud. that's absolutely true.

adam. gas taxes don't pay for our military, period. >> neil: but there are a lot of people, retirees who did pay, did pay to the system and i understand where you're coming from. and gary, back to you on this notion of what do we do now? i'm the not here to offend our retirees or offend our soldiers and had a productive working lifetime and gave to uncle sam. we're looking at a pretty big pot and still pissing the money away and we've got to address that. when we rule out half the tax base, short of just doubling, trippling taxes on the rich, i don't know are you go. >> neil, raising taxes is not going to cure the problem. you can raise taxes to 100%. what is it going to do for people? government has spent trillions of dollars the last few decades on poverty, it's a sin how many kids are in poverty, a sin how many people are in food stamps. the got to change the structure. there's got to be incentives

for work and job. >> gary-- >> all of this talk, hold on one second. all of this talk about more money is going to fix the problem. how much is more money. another trillion or 2 trillion? >> we should add though that the bush tax cuts added 7.8 million people to the role of those who pay no federal income tax and that's about 13% of those filers who don't pay any net income tax right now. and doubling the child tax credit, also, a 10% tax bracket. so, it's not that-- it was not that long ago that this wasn't such a problem, but again-- >> and the irony, it was 86 taxpayers of ronald meagan that raise the the deductions and the like. >> enough blame to go on all sides, but ben stein, a perspective from you. you say the only way out of this right now is just to, well, the rich pay more? >> that's where the money is. it isn't 47% of the tax base excluded.

it's 47% of the people nowhere near 47% of the base. the base in terms of money to be raised is in the rich and upper middle class. >> neil: and just gouch them some more. >> they're not being gouged now. >> neil: really? >> people in long island, a family of five in long island, that makes combined income of $200,000 a year, been stein is saying is not being gouged? >> these are your friends, obviously, that's what you're upset about. >> not being gouged? and the wife and the husband make 200 grand a year and living richly in long island? >> no, they're not living rich, compared with tax rates and other industrial countries and taxed-- >> and hammered by city, by state taxes and-- >> we're fair and balanced and we confuse everyone. talk about spending money we do not have, the aid flowing to the middle east even as their hatred of america keeps flowing in the middle east and now, secretary of state hillary clinton is pushing for more money for the middle east. why the gang from forbes says not another dime.

that's coming up at the top of the hour. meanwhile, let the sunshine in, and watch your money go out. taxpayers getting turned on more spending from green energy, it's weird the cash that's spent is going to have you seeing red, literally. ♪ oh let the sunshine [ woman ] ring. ring. progresso.

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>> hi, everyone, live from america's news headquarters, i'm jamie colby. president obama's blasting congress today in his weekly radio and internet address for leaving town with unfinished business on jobs and the economy. economy. >> if congress had listened to you, they would have given 98% of americans and 97% of small business owners a guarantee that your taxes won't go up next year by a single dime. this is something we all agree on. it should have gotten done a long time ago. >> but alabama senator sessions delivering the republican address, accusing

senate democrats of failing to produce a budget and not dealing with looming tax hikes and defense cuts and the senator taking aim directly at president obama for not rallying the country behind the cause of deficit reduction. i'm jamie colby, great to have you here on the fox news channel, i'll send you back now to cavuto on business, keep it here, the most powerful name in news. >> well, you see this, we built it, you paid for it and guess who is making money from it, china. that's right, solar panels on the roof the federal building in china. 1.8 million dollars in stimulus green used in that project that's helping china. and does anyone remember this? >> i will not feed the winds for solar or battery industry to china. nobody is playing for second place. to make sure that countries like china aren't giving their solar companies an unfair advantage over ours. >> so that we can be

competitive with what china is doing. >> i don't want to see wind turbines and solar panels and high-tech batteries made in other countries by other workers. i want to make them here. >> oops. ben stein, what do you think? >> well, he's a politician, he's unbelievably good politician. politicians say anything it makes to be elected. he's a very, very smooth liar. i like him a lot. >> oh, ben, ben. >> but he's a very smooth liar and of course, that industry has gotten away from us totally and the government's trying it make solar power the wave of the future, that's a giant gift to china. >> adam, that's weird one thing we were trying to avoid. we were going to build the alternative to china's state sponsored green energy program and lo and behold they he get money for our green energy. >> and he was-- and president obama was completely wrong.

we got our butts kicked in the solar panel market. china won. we lost. and that does not make him a liar, which i find offensive. >> and gave him more money to brg home-- >> if you want to buy solar panels right now you have to buy them from china essentially unless-- >> and mexico makes them, too. >> and zimbabwe has a burgeoning market, too. >> and first i want to say ben that called the president a liar, you can't yell at me today. >> you're right, gary. >> and it's no accountability, a million or 2 million dollars here and no watch dog and-- >> and the contractors, gary, and did it send up signals, like, guys should we be doing this? it's true. they had no other options and adam in this case is very right about that, but it's ironic that the very contractors working on the project pointed out to the boss, hey, boss, this isn't

good. but continue. speechless, okay, charlie? >> oh. >> you lost your time, that's it. charlie? >> and you know, i felt the tingle stop going down my leg and i was laughing so hard i lost control a little bit. that wasn't funny? >> not really. >> and we have standards on this show (laughter) >> dagen, what are-- >> i have a courtesy laugh for everybody. >> and your point being what? >> and i mean, one of the most abused programs in the obama administration, the thing that should disqualify him for another four years is clearly the strimulus program, the most poorly administered thing in the world and supposed to get our country back going and spend money, going into debt to get the economy going, it didn't happen and we're worse off. >> it's the great slush fund. >> neil: dagen.

>> it's ridiculous the tax breaks you can get for putting solar on your home to this day. depeck on the state. two-thirds of the project costs can get covered by tax break, plenty of incentive for people to buy stuff from china on the taxpayer dollar. >> neil: another word? >> dagen is right, but the tax credits start to disappear. >> i think adam-- >> they will diminish, i should say. >> neil: all right. take a break. meanwhile, now the boot, something that the saudis are doing that could push the oil prices down and maybe pump the president up. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad

we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. >> coming up. with 45 days until the election, is the sheik about to hit the fan.

>> you remember this, president obama bowing to the saudi king back in 2009. now some critics are beginning to wonder behind the saudi's decision to bow to us, to pump more oil for us, less than two months before the election? >> can you talk a little about what types of negotiations or discussions happened between the white house or the u.s. officials and saudi officials on this? >> no, i can simply say that we welcome the saudi arabia oil ministers recent remarks and share his concerns about rising oil prices broadly speaking, not in recent days, but rising prices in the international oil market. and we welcome saudi arabia's continued commitment to take all necessary steps to ensure the market is well supplied and to help moderate prices.

>> neil: to ben stein's comment about being a smooth you know what, i mean, that's a pretty good answer. but gary k, i was at the democratic convention where the president was bragging about our dependence on foreign oil, at an all time low and getting lower. something doesn't mix. >> i think the saudi royal family probably has box seats to all the washington redskins games this year at this point in time. look, i'm a cynic, i believe bernanke 50-some odd days before the election printing money to get the markets higher, i think something's giving here. i've never seen the saudi want oil prices lower and all of a sudden, produce more to get it lower-- >> and a couple of weeks ago, mitt romney was talking about making us energy independent completely in eight or ten years and i'm hearing that, well, maybe we don't want that guy in. >> first of all, the saudis, often do pump more oil to

lower prices they want to keep it as a stable price that's not going to bring on worldwide recession, that's happened. >> neil: you see nothing sinister? >> i see nothing sinister. but may i add, governor romney saying we're going to be energy sufficient, independent in ten years, boy have i heard that before and smooth line. >> i don't buy the bernanke conspiracy theory. but this isn't a conspiracy theory that saudis would like obama to stay in office. >> so would ben bernanke. >> i don't think so. >> why, charlie? >> i think he's earnest, i don't believe the saudi arabians are, they have a business objective and what, ben bernanke gets another term as fed chairman. >> mitt romney made it clear he won't it he becomes president. >> he could make $150,000 a year versus the gazillions, you can make a lot of money. ask alan greenspan. >> dagen? >> i predict record gas prices on election day, they've got

to drop 40 cents a gallon to tie the price on election day, that's not going to happen not even with the saudis in your pocket. >> adam. >> ben explained that the saudis act to stabilize global oil prices, they don't care between obama and romney. >> they couldn't fact in 45 days. >> 45 days from now, just like ben bernanke couldn't have waited another 50 days. >> why do you compare bernanke. >> he doesn't care. >> no comment on bernanke. >> neil: i connect the dots. you choose not to (laughter) >> i want to thank charlie and dagen. up next, we've got stock surging, but what happens if and when they start falling? our gang has the pick that can make you money even if that market goes down. even if it goes-- . any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor,

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