tv Cavuto on Business FOX News August 17, 2009 4:30am-5:00am EDT
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likes. guess what, the quarterback of the cost of freedom team sun next. "cavuto on business." neil cavuto. [captioning made possible by fox news channel] neil: who knew that your checking account had anything to do with your cholesterol account or whether you have a high enough balance to treat that high temperature. i'm neil cavuto and welcome. check this out. they are checking your checking account out literally. because tucked away in the 1,000-page bill a plan that may allow uncle sam to delve into your bank account. never mind government bureaucracy. nosing around your health
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records now going through your financial stuff while they are at it. let's get reaction from charles, dagen, adam and ben. government does. it will takeover your life. the government has no limits on itself in its own eyes. >> i agree with ben. seems like the only people that have rights, if you get a wire in pakistan we can't investigate you but the bottom line is what i'm worried about is all governments gather information . it seems like they want a
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dossier on all of us. but this one has such disdain for the wealthy that they would use it as a weapon. maybe a shaming campaign, other intimidation factors. >> collecting data for efficacy of healthcare treatments? could that lead to rationing? it is not the collection, it is how the government uses it. you talk about a 1,000-page healthcare bill. he was talking to somebody and they said that bill could be 50 to 75 pages but it is not. it is filled with these very vague lines about things like data collection and you ought to be very nervous with it. neil: why can't they make it like the manual for an iphone. >> try to read that. neil: we can read. but adam, i have been trying to give them the benefit of the doubt. explain the logic of this checking account thing.
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>> well, no one likes to have their privacy invaded in any way. if there is any logic to this -- and i'm not saying i think it is a good idea but we all have insurance providers who have a lot of insurance. people who provide us credit have information on us. so, to explain a rationale, if the government is going to provide insurance to people and that sa -- that is what we are debating they may need financial information. neil: this is the government. this is like your insurance carrier on steroids. >> i understand that. as ben pointed out, we are going to get into this more later. i think, ben, we should not use words like gestapo and franchise tax court in california even jokingly because it is not a helpful comparison to what the gestapo did to what they are doing to your unfortunate friend. but the tax authorities have a lot of information already.
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>> give me break. do you think i'm really comparing them with the gestapo. it is a metaphor. an exaggeration. of course the franchise tax court is housed by loyal servants if you can't take a joke. >> you can make fun of your jokes because the people are making outrages claims -- -- neil: two guys walk into a bar. charles, the issue is the government seeping into areas that i didn't think it should for healthcare. then i thought, if this is going to be paid for by the government they don't have to check my checking account at all. >> yes, adam this is not regular insurance. this is like we although money in a pot and the government takes care of us so why do they need all of my information? we have to be worried about this because we have already seen where sort of tactics where bond holders are called names that
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are beneath them. i don't know, i'm concerned about all of the -- little trap doors in this bill because a lot of people haven't read it but we know longer term there are different things that could come out of this that we are not prepared for. >> how is people's healthcare going to suffer because every form i filled out like customer service forms i laugh through my -- i lie through my teeth. i'm 25 years old and way less than 100 ponds so people are clearly -- >> i couldn't get away with that. >> people clearly won't tell their doctors the truth if they think the information will be used against them. and adam was talking about credit card companies have our information. yes, and they lose the information. so what is that crack team of information technology specialists that the government going to do with all of that information if the private companies can't manage it that well? neil: ben stein, my biggest
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problem is, if the government wants to gets away from thinking they are intrusive with us, they keep saying all that sufficient is overblown, then there are features like this very easy to read and find in the house report, how is that helping the cause? >> you put your finger on something so brilliant you really should write an article about this for the new york times. which is that the government is not allowed to do anything to a person who might be a terrorist and not allowed to interrogate them or intercept his mail or phone calls but they can do anything to the honest american citizen trying to get healthcare. that is astonishing. that is breathtaking. neil: adam, do you worry about where this goes? you are quite right to say a lot of government agencies from the i.r.s. to the social security administration have a lot of data on us. i would think in this case they might just ask them for it. but are we that far from that?
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>> the short answer is i'm worried, of course, we should have good legislation. i point out to you one of your recurring themes when you talk about medicare, for example, is how much corruption and abuse there is in the system. one opportunity for abuse here is for people to use this insurance who have the means to have other insurance, or for the wrong people to get the insurance. so, what we are discussing here is the government having the right information -- neil: i thought this was ok for everybody. it was going to pay for everybody. >> it is not for everybody. neil: then it is not what it was trumped up to be. i thought it was a utopia, everybody is covered. now i understand that you are going to have people try to get around this by keeping a low checking account balance. >> not just that. everything. from tabs to everything else. all of this is designed to either cram what we want to do, our desires to make money or
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have a lot of money, certainly our desires to show it and all part of the ultimate plan to make us have a simpler life style as americans and more socialistic type of life. >> adam just made the argument against the public plan by saying that. neil: we are not here to pile on adam. we do that the next break. president trying to say the healthcare promising you will save martha:. but the folks at forbes saying the plan will cost you money and maybe your life. some in congress want to ditch the town hall meetings. i'm robert shapiro. over a million people have discovered how easy it is to use legalzoom for important legal documents. at legalzoom, we'll help you incorporate your business, file a patent, make a will and more. you can complete our online questions in minutes. then we'll prepare your legal documents and deliver them directly to you.
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light. back to "cavuto on business." only on the fox news channel. i'm jamie colby. neil: is it any wonder why taxpayers are angry? >> the majority is against this plan. >> i want the insurance i have because i picked it. >> you have awakened a sleeping giant. >> you have set yourselves up on a level that you do not identify with your own constituents any more. neil: protesters turn up the heat so democrats are backing out of the town hall meetings saying they don't want to give these people a stage to perform. charles, that is pretty crazy. >> that is pretty crazy.
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the old saying you can't stand the heat stay out of the kitchen. the next one is close the kitchen. neil: but it is our kitchen! >> to me it is really first of all anybody who does this, any of these legislators that do this, these are premium madonnas, they are gutless, they make me sick. it will backfire. king george thought the colonists were pesky and loud mouthed and see what it got him. as far as not having the ton hall meetings i think it is antiamerican and antidemocratic and cowardly. neil: ben, do you think they are reading the healthcare prescription on the wall that this is fading fast and they are trying to find an honorable way out? >> i would like you or a very smart guy any of the men and women on our panel to read this bill. it is impossible to read. clearly nobody has read it. it is a mishmash. it is a prescription for trouble.
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i don't blame the people for being upset and i don't blame the politicians for not wanting to face the music. they did something very questionable. they are doing something very questionable. people are angry. of course they don't want to be yelled at. nobody wants to be yelled at. neil: so, they are not going to stop. >> this is a theme. >> the bosses, they are the commissars. they can withdraw any time behind the kremlin walls. >> you see it in the polls, the opposition, the american people in opposition to this healthcare overhaul rising but they still believe that congress is going to push through something anyway. here is your congressmen, i'm going to do whatever i want. >> sheamful. you are right, shameful. >> i completely disagree because they know very well that if they disregard their constituents' wishes they won't be re-elected next time they run.
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they have to run for re-election every two years and we know that. this is a classic example of the tyranny of the minority which scared by the -- >> what are you talking about? what minority? >> you can't prove it because -- let me finish my point. just because you yell the most loudly doesn't mean you are in the majority. this is not a silent majority. this is a bunch of very motivate and loud and poorly behaved people. >> adam, my dear friend, the great majority of americans are happy with their healthcare plan. this is for a tiny slice of obama's core constituency. they will turn the healthcare up side down for everybody else. >> sometimes you have to raise your voice and pick up a pitchfork and make your voice heard. especially if the people you are fighting have all the weapons so he i say continue to scream and make your voices heard. >> what minority?
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the americans who approve of the healthcare plans that are moving is 42% according to rasmussen. lower in other polls. so what minority are you talking about? >> a majority of the american people as well as the overwhelming majority of electoral college which is how we elect our president voted for this president and one of his major platform was healthcare reform. >> he doesn't become a take tarot when he wins. he still has to keep explaining himself. he doesn't become stalin once he wins the election. >> i completely agree and it is at least worth pointing out that in the bush administration they routinely christined people from attending their town hall meetings so this sort of thing wouldn't happen. it is an unfortunate situation which shouldn't continue. neil: we have a very rich history in our country of people getting upset on any given issue from slavery to prohibition.
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the cavutos showed up at all of those. and i'm just saying when they get very passionate that do not make them any less worthy of the debate. that is our rich culture. that is our rich history. what is wrong with it? >> we are seeing from the left is that if you are not eloquent the way you speak and you can't articulate a message then your message doesn't count. sarah palin is dumb because she is not as articulate as barack obama. >> no, she is dumb because she is making things up. this is an important point. it is not being ineloquent if that is the right word. it is talking about death panels that don't exist in the legislation that people are criticizing. it is not using poor grammar. >> people are criticizing the american people who are speaking out at these meetings because they are not expressing themselves in the way and with the volume that other people would see fit.
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by the way, eloquence really works on the campaign trail but the issue is detail and the american people do not like the details coming out of congress and there is nothing wrong with saying. unfortunately a lot of congressmen, women, democrats, don't want to hear it. neil: adam, we will continue piling on you in the next segment and you will be looking for healthcare the way aware going. coming up, this. >> history. biology. neil: love that. that is just the kind of behavior they would love to take behavior they would love to take down and they just finally, good news for people with type 2 diabetes or at risk for diabetes.
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neil: talk about a sugar high, the shortage of the sweet stuff threatening to push up prices. candy store, you name t. major food companies asking white house for break toss import cheaper sugar. charles, you think this is no accident? >> the white house knows that the best way to get people to stop eating sugar is to make the cost prohibitive. this is a great way without leveling a tax on it because they floated that out there and
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you are going to tax sugar? but there is no doubt about it. we live in a word where we are all supposed to be slim and drive electric cars. neil: you are amazing. >> i think that is what we are in. neil: i hated the little slim part. ben, what do you make of this? you know what is going on with sugar is you have monsoons in india and brazilians taking a lot of money away into ethanol production and it isn't this sinister white house effort. what do you make of it? >> it really isn't a sinister white house effort. we have a two-price system for shirg. we pay domestic producers roughly twice the world price and those that consume sugar are upset about that. they don't like paying twice the price. they are trying to get down to the world price. i don't blame them. it is a perfect example of what you do when you screw around.
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i'm the only one old enough to remember when hi dad was in price of controls under nixon. it screwed things up terribly. i'm worried we will have it in healthcare and screwed up price system and i'm extremely worried. this sugar thing is an objective lesson. neil: you are referring to -- what do you think? >> price controls are coming in gasoline probably, energy. pause you see what they want to do with regulating. the commodities markets and keeping out speculators. this is the perfect example of how government policy can destroy market pricing. for a commodity that everybody uses. neil: i don't think they have anything to do with it. >> they keep the art of the price of should go are artificially elevated for farmers. neil: maybe adam can help with this. we did have these very natural supply and demand issues that were going on, didn't we?
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>> the bob:s are using their bully pulpit to argue for healthy life styles and that is a good thing and has nothing to do with this specific debate, which is buy bipartisan behavior for years and years, republican an democratic administrations have allowed it to go on for benefit of the sugar producers. it is bad policy and we should do away with it. neil: up in connection, how about a woodstock style money making high. pick the stocks making new highs with a little help from our friends right here.
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neil: 40 years ago the woodstock generation jumped on by getting high. we like to pick stocks. >> k.b.e. bank stock. i think they are effectively out of the woods. doesn't mean there won't be a stink earn or two which is why you go with the index approach. >> i don't like the index approach because i think the smaller basics are not out of the woods and some of the bigger ones. i like dran.
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they had a great quarter raising earnings estimates. that is when i was jamming on the guitar. neil: what do you make of that, ben? >> it is a small high tech company and it is like buying a lottery ticket. small companies have very hard times recently. it is really as i say just like putting a chip on a number in largse but if you like doing that go ahead. neil: what are you doing? >> i'm not doing this. i have already done but i like city bank. the i think it will zoom up. it will shed a lot of divisions but eventually it will be a core and make money. one of the smartest people on wall street writes for them. i think people that smart will make money. >> they had a big upgrade. but the company will never go out of business with the money we put into it.
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