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tv   Forbes on FOX  FOX News  October 2, 2010 11:00am-11:30am EDT

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this, you would have done well. >> lamar crushed september. got to go for individual winners. >> neil: we got to go, thanks to everybody: to the super sized controversy over the health care laws, mcdonald's menu to the white house gets leak. the company would be dropping health care for 30,000 workers unless the administration gets rid of a mandate in the health law. those workers would be forced tonight government system, your tax dollars paying the bill. >> what happens to health care becomes fact -- de facto single payer system. >> was this president's plan all along? . let's go in focus. . the white house denying the journal's story saying it
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wants to help an voice companies dropping coverage. you have been warning that is what the white house has wanted all along. >> obamacare was designed to eliminate the private health insurance market and drive everybody to national health insurance. in other words, taxpayers would cover everybody. one more example is with children's insurance, the preexisting conditions that obamacare requires that's already caused some insurance companies to stop coverage of children. >> that's right. the present financial group chief among them. stephan, what do you think? >> i don't think obama wants companies to drop their health plans. he should. look at this mcdonald's plan. this plan was a scam, people paying $1100 a year for insurance that was capped at between $ ,000 -- $2,000 and $10,000. >> most don't have any health
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care. this was and know have aive solution mcdonald's came up with. you usually don't get any! >> is that an excuse for administrators to be taking 20% of revenue s? if you are eating a lot of mcdonalds you are going to need a doctor. >> the point is, the taxpayers may be picking up the bill. >> exactly that's what you don't seem to understand. this isn't real competition, when the government steps into a market, they are subsidized by your dollars and my dollars. it real competition. you have insurers competing with someone who getting money on the side. it is going to come to roefs when our national debt -- roast, when our national debt continues to go up and up. >> i did a lot of restaurant work in my 20s, i never had health insurance. most of the companies that
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provide this kind of work don't offer this insurance but mcdonald's did and now they may have to drop it. >> they may have to drop it but to think is a conspiracy theory by the white house is nonsense. it is incompetence. they don't understand how markets work. obviously, we have almost four million employees who have gone on medicaid over the last several months. seeing these rolls going up and up. i don't think they want this system to gall to one aer. i think -- to all go to one payer. i think they just don't understand. >> when obama was running for the senate 4 1/2 years ago he claimed he was for single payer back then. for a lot of people this has been the plan. >> health insurance exchange is set up in the new bill a halfway house toward a single payer system.
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it is a debate worth having whether the mcdonald's plan was price gouging because it wasn't such a great deal. can the government step in and change without ramification? no. the exchanges will collapse, take on sick people premiums won't be able to cover the costs and those people will get dumped into medicaid. medicaid will be the singer payer system. >> i'm going to stand up for mcdonald's because it is better than no health care. at last they had a plan. a lot of these small fast order places don't have any. small companies come up with innovative solutions they are not the best but it is better than nothing or better than the taxpayer footing all the bill. >> reason why i'm saying the intense of the obamacare was to move people to the government is because of requirements for all the types of things that had to be included in health care for younger people don't need a --
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a lot of the proceed there's older people need that's a big problem with obamacare. that has been tried, massachusetts, europe, it has had the same effect. it didn't have to be tried nationally in the united states, all we had to look at every place else it was tried the government costs exploded. >> be honest neil weinberg. you know people in congress have said they like single payer and the reason why they went for this was it would lead to a single payer plan. don't you any in the back of the mind he still is? >> i think they would love a system like in the u.k. or canada. politically and economically this wouldn't work now in the united states. to that point, if you look at mcdonald's plan it was horrible. $737 a year for these minimum wage employees for $2,000 worth of coverage.
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>> isn't it better than nothing? >> no. it is taking money out of their pockets. >> it is a volunteer program is that not right, victoria? they can decide to put in three dollars a week, $14 or $30 a week it is up to thely i how much they want to put in. >> it was a lousy program. what is flawed is that is what this administration has done to so call fix our health care doesn't increase real competition in the market you should be able to work anywhere and choose from a dozen different insurance plans. and that will get us to great insurance in this country real competition. >> you won't be able to do it if there is single aer. >> listen, -- you are looking at canada. a lot of other interesting solutions including switzerland where you have different private insurance players, non-profit, there's
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choice, there's competition. we can foster that the obamacare plan has its flaws and certainly a republican congress, if we get one, could improve it. let's not be bottom feeding saying mcdonald's was giving the best we could get. >> nobody said that. we said better than nothing at all. >> was this health reform we wanted? no. that wasn't on the table. the president and the democrats didn't consider it. the health reform does -- >> point is individual companies, thousands of companies all over the united states have come up with unique solutions none are the best. we are not talking you kwroep -- utopia isn't it better to give people one choice -- >> of course it is. you are missing the economic point of obama to redistribute wealth not to provide the best products. which is why 3.8% of the
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profit on the sale of your home goes to support obama care. more money coming from high income earners to give to lower income earners. that has to do with health care. >> when we come back, unions busing thousands of members to d.c. to protest the tea party. why they should turn their anger toward their big labor bosses instead. >> plus, a plan to let tax evaders off the hook that taxpayers like you and me will love. is that possible? we'll explain.
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. >> reporter: i'm juliet huddy. new reports of missile strike in pakistan. two suspected u.s. strikes have killed 16 alleged terrorists in north waziristan. unmanned drone spikes -- drone strikes have spiked. scuba diver with under water cameras joining the search for two american balloonists. they went missing wednesday. they've been taking part in a balloon race. hope is now fading they will be found alive. race organizers say the two plunged towards the sea at 50 miles per hour and they likely didn't survive. one family member saying they cannot rest until they find something. i'm juliet huddy. join me at 1 p.m. eastern for
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america's news headquarters. for the latest headlines log on to fox news.com. give all taxpayers a break by letting evaders off the hook. a new program in illinois, letting folks who owe back taxes payoff their debts without a slap on the writes. that may be controversial but it is expected -- expected to bring in a quarter billion for the state. should we do this for all americans? >> yes. a lot of people are scared. they don't know how about how to paid their taxes. that's why many don't pay. it has been a big hit in massachusetts and louisiana, new jersey and pennsylvania. i say do it. >> neil, if it works elsewhere why not for the whole country? >> great idea, you break the law cheat the government and fellow taxpayers and you get a do over. i don't buy it is steroids for politicians. free, easy way to get money
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and cheat the future. >> stephan is a cheat on all of of america? >> it is situational. right now it is not time to be punishing people. i want to apologize about something that happened on my spring break trip in 1990, it involved a chicken suit and a couple of pretty girls from indiana. i want to apologize to the chicken suit. >> bill? >> these state tax amnesties, have gotten out of hand. they are too lenient with back taxes and become interest owed. i think the irs has a better approach. we saw this with the repatriation of the secret swiss bank accounts. the irs approach is, if you don't turn yourself in, we are going to come and take your first born child if you do turn yourself in, we'll be nice, we'll only take your house and dog this is the right approach. we should make it easier for
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honest people to be honest and harder for dishonest people -- >> we don't want to reward dishonesty. if in the end it brings in more money as a result of people paying what they owe, why not? >> i agree. you should have some penalties. there's incentive by telling people you are going to avoid criminal prosecution. with the program they have 14,000 people to come forward, billions of dollars. easy way to generate cash with minimal effort on the government's part. >> maybe the slap on the wrist is forcing a fine with the pay back would that be enough? >> yeah. you also don't have to pay back interest which can be large. the problem with these forgiveness amnesty programs, you don't have to pay fines. there's no repercussion for not having paid five years ago. you are giving people a free pass. and the rest of us are chumps, like why did i pay five years
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ago? >> we don't know all these people were cheats. some may have disputes, you know how the irs is -- >> that's my other point. this does nothing to simplify the tax code to vicki's point what about a little fine, would you be okay with that? >> i would be okay. don't let the perfect be the enemy of the good. look at the inventor tax in italy they are doing well. >> stephan you are in illinois, how is it working out there from your perspective? >> this is a state that has terrible fiscal problems, so any money coming in is great. >> wait a minute, chicago has fiscal problems? >> oh, no this is bad stuff. you toss out the rules began with what works. we are in an economic crisis. later on we'll punish the bad guys. >> if we were doing this on a federal level there would be
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prosecution. [ unintelligible ] >> what is that vicki company >> then they are not going to come forward tpfpl you a federal perspective you are cool -- you're not gonna get people to come forward. [ talking over each other ] >> people just want to get it off the books. they want to get this monkey off their back. >> david, i want to know whether we should give amnesty to the treasury secretary? he didn't pay all his taxes. >> what about that? >> and anybody else in the administration will they get roped in. that's a heck of a headline. >> amnesty is terrible it undermines law and order in this country. look at what it has done -- >> i think the irs undermines law and order in this country doesn't it? you can >> you can say amnesty charge people for taxes they haven't paid in the past is a way of raising taxes. >> bill, i know you are a law
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biding guy. there's so many times in which the irs operates against our understanding of justice. you are guilty until proven innocent as far as the irs is concerned, right? >> there's a solution, tax simplification. >> in ab -- in the ab -- thanks gang. coming up next -- you still love me baby? >> for better or how about just for worse? nationwide marriages are coming under attack. some of you are saying you have lawmakers in d.c. to blame.
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fewer couples walking down
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the aisle. some say you can blame d.c. forget a record september for to bes get the names to
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the recession doing more than draining wallets, it is breaking hearts. new report shows the marriage rate has never been lower going way back to when the government started keeping track in the 1800s. you say d.c. is to blame, explain. >> it is hard enough getting a man to put a ring on your finger good times. these days who is going to spend two month's salary buying a ring when they don't know if they are going to have a job, tax increase, health insurance. the economic and uncertainty these days not helping anything with this administration. >> neil, i'm not sure you spent two months of your salary in good times, what about kai's point? >> washington is not to blame. americans should look at themselves. we are the people who elected
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the -- bums in washington. we borrowed so much because we drove the economy into a ditch. >> did you blame washington or ourselves? >> i'm if to blame washington. federal policy punishes, work, savings and marriage. and it rewards idleness, and shacking up. let me give you one example. two singles between them have up to $6,000 in deductions for their stock market losses, we all have those. if they sign a marriage certificate it gets cut in half. there are similar penalties. for middle americans there's a penalty for the way we tax social security benefits. >> as important as this subject is, i think you've been over thinking this a little but glad you came prepared. victoria, who is to blame? >> bill makes an excellent
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point. the fact is the marriage rate among young americans has been declining since the 60s. which coincidentally or not was when birth control came up. there are other reasons why people are choosing not to get mary. i don't think we should give all the credit or blame to washington. >> it might not just be a coincidence we see parallels with the depression years. the fact is, the economy is lousy, you don't want to start a marriage tphurls sure you can build your -- unless you are sure you can build your fortune. >> bill, you opened the phrase shacking up. [ talking over each other ] >> during the 30s when the economy was in a depression, marriage rates increased. during the 90s when the economy was doing , marriage rates decreased.
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i'm a little skeptical the direct tie. i do think financial security helps. >> kai why were people getting married in the depression if the bad economy was to blame? >> pack to the shacking up, i don't think you will shack up and using birth when you are living with your parents. >> thank goodness the fcc doesn't have control over cable bill? >> this planell is slanted every member of it is happily married. >> that's true. >> speak for yourself bill. >> oh man! >> you are making a lot of assumptions. more women are in the workforce and bringing in nice salaries and might be questioning why they need the burden of a guy around the house. >> by the way, we have to end this segment. i got a call from neil's wife she wants him home immediately to explain that last comment. >> stocks soaring in september. next, picking stock that will
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continue to climb for the rest of the year. stay tuned. pg@a;x÷÷óñ?
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fox business demanded. september to remember dow closing out its best september in 71 years. 7 one year ago we were in a depression, -- 71 years ago were in a depression, but never mine.
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>> at the end of the year i like the gold etf. trend is your friend it is going up. you gotta say gold is still pretty cheap. >> pretty cheap at $1300 an ounce? >> i'm depressed my brilliant boss has bought a bubble. when they are pumping all day you run the other direction. >> speaking of bubbles, stephan, real estate? this was the bubble of all bubbles. you're saying to go back into it? >> yeah, sure. in fact go into apartments they are the thing that are going to benefit from the crash in housing. avalon bay, these guys own the most luxurious apartments on both coasts well run companies, that's the place to go. >> oz you are supposed to buy cheap. >> i'm a little skeptical i don't think we've hit bottom. with this, i would be cautious
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of declining rental fees. >> you are doing what neil is doing going with commodities, right? >> i think inflation going to accelerate in the months ahead. i'm going with this commodity etf a basket of 17. >> bill, you hear there's no inflation but you look at corn, oranges, wheel all going. >> if you want inflation protection by the i shares gold etf 1/4 of this overpriced dog that mike wants you to buy. >> bill, you are for a drug company, a company that discovers drugs, right? >> it is a maker of scientific instruments and it has a scientific way of paying dividends, saving you on taxes. >> neil? >> warren buffet says only buy what you know it has a fairly ipe and 52 week high. >> bill knows what it is and does and thinks it is

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