. >> we go to ben stein and charles payne and dagen mcdowell along with adam lashinsky and charlie gasperino. >> right. and i mean, and you know, it's funny to hear the media covering this thing and the great things it protects, it leaves out the great costs it also presents. >> and it leaves out the media, leaves out why it's constitutional. and listen, just on an individual basis, just for people, forget about the companies, small businesses, the medicare attacks, investment sur tax and that list goes on and on. this is a gigantic tax increase on virtually everyone in america. >> 10% tanning tax. and-- >> kind of disingenuous. >> billions a year. >> you actually pay taxes to go in the the tanning booth. >> 10% excise tax on tanning services. >> neil: dagen, you don't need it. >> no, no, you're beautiful, it's just, i don't think you-nkd want you to-- >> not going to fire me or-- >> no, it's a needless tax you needn't pay. >> guess what? i guarantee you taxes will continue to go up in this country. >> neil: because we're all getting burnt. >> this puppy is going to be a lot more expensive t

joining us is ben stein, charles payne, dagen mcdowell and stephen fitch. and charlie, you raise a very good point. in the scheme of things, this looks like a pimple on a you know what. >> and we should point out they lost 2 billion on the trade, even with that loss they're going to be making something like 3 billion dollars this quarter, next quarter and it may have a 12 to 15 billion dollar earnings year, so, this is, i mean, there's a lot of reasons, politically why they're doing these hearings and i think that jamie dimon is a big opponent of aspects of dodd frank and they want to show that this guy maybe shouldn't be an effective spokesman, but i tell you that report we got and first reported on fox business, really shows how little this is compared to this huge elephant. everybody knows it's there, by the way, what this report did different, it spelled it out in explicit details how big it is and it's unfunded accounted, and municipalities if you go by the public statements would add up to about a trillion, 900 billion according to the report, the rea

think the end result now, i know in the house they want to repeal this, those going joe where fast, ben stein because of the makeup of the senate and wait and see if the republicans take everything and then repeal it, easier said than done. a lot of taxes coming our way, what is the effect. >> the effect is extremely negative. we don't want to discourage spending and we don't want to discourage investing. we're moving down the road to euro socialism at a rapid click. i think dagen as usual made a brilliant point when they enacted medicare, they thought it was going to cost pennies, and not bankrupt the company. the cost this have is going to be explode and more and more taxes and we have to take care of people, but we don't have to break all the eggs in the kingdom and try to put them back in their shelves in order to make a health care plan. this is a very round about way of doing it, yes, mr. obama has the power to do it, yes, the supreme court can say anything is constitutional that it wishes, and it's just going to be a ton of money, being sucked out of the system and being passed through

ben stein economist and author "what would ben stein do" joins us now. a lot of great questions from our viewers. the big one that kayla is this. what do you think about the impact of this new healthcare law on the economy. >> i think it will have a negative effect in the short run because it will harm employers, it will place a new burden upon employers and that will make them even more reluctant to hire. the real problem in this economy is unemployment. this is going to tell employers every time you hire a new guy or gal you've got a new burden in terms of paying for their healthcare, and it there therefore discourage employment. i think it's a negative for the recover row. jenna: what about long term? >> long term looks so bleak at this point i hardly know what to say. we have so many problems in the long term i don't think this will be a big effect in the long term, but it is a moral imperative that in this country people have healthcare even if they are not well to do. so that was morally imperative. the way they did it was an extremely cumbersome w

to ben stein and charles payne along with michelle and charlie. >> the union money cannot compete with the enthusiasm going on in wisconsin from the grass roots groups. if you look, governor walker 70% of his political dough nations are under $15. this is just like $10 from regular folks. $20, $15 and there is just a lot of enthusiasm there which is great because unions is are basically exhausting their resources and energizing the conservative movement out in wisconsin. >> you know, polls are one thing. the actual vote is tuesday. but if it goes that way that they lose, a lot of union members who were sort of chasing their dues going to do this might start nationally rethinking things. >> absolutely. you. >> know what the democrats are probably going to be really -- they made a big mistake and they thought this would be their moment and they would win this and the union movement would somehow be reenergized. michelle is right about the money thing. look at the mid term. and wisconsin we are are seeing union membership fall completely apart and it is the same unions that put millions a

ben stein is an economist, also author of "what would ben stein do." have you with us today. >> honor to be here of course. jenna: let me be a little more specific about what we're talking about the 2008 financial crisis. you said we made a crucial error by not bailing out lehman brothers. >> it was a gigantic error. jenna: you say we're repeating the same mistake in europe, how so? >> it won't be quite as big as lehman bros., it will be awfully big. if there is a total default of the greek government. if the spanish banks fail or a large, large, large debacle with spanish government trading and borrowing it will affect the bonds of spain, it will greatly affect the bonds of greece and the bonds of the banks of those countries. it looks like italy will be next. the bonds and security of those countries are owned by big, french, german banks, those in turn are owned by u.s. banks. that means the u.s. banks will take a big, big hit which is just what we do not need as we are desperately trying to get out of the recession. the recession was brought on in l

ben stein, charles payne, dagen mcdowell along with adam lashinsky and charlie gasperino, charles payne, what do you think. >> the unions are losing now big time in the court of public opinion and going to other courts trying to rectify it and i think they're making a gigantic mistake. in san jose, the pensions are almost 200%, firemen, you run into the burning building when others are running out and police officer, take care of the bad guy. but have to listen to the will of the people. and have to draw a line for reasonable compensation, bottom line. i think they're making a bigger mistake. >> neil: i think that san jose stood out because a largely democratic town and democratic mayor, and essentially said, dagen, look, i love the unions and i want to protect the pensions and protect them. but we've got to reign the costs in so that i can. >> why this is such a watershed potentially, is because the people in san jose voted to cut benefits for current retirees. and if this goes ahead and the unions fear this this a great deal and by the way, we had another big, big vote down in san die

. >> neil: ben stein, the union money involved if it fails to get the result it wants then what? >> i think we see an inflection point to use charles' extraordinarily good phrase against the unions. union membership is falling apart only not only in the private sector but you starting to collect downward in the public sector. union money has never won an election. i think mr. obama should be extreme le worried. union support is not going to pull him out of the fact, the painful truth that he has been in office now for 40 months and the economy is still in a terrible, terrible dive. he has not been able to achieve anything like what he said he could achieve. he said, yes, we can. no, we can't. he said change. no, not change. it is the same democratic wild deficit spending. i think this election is going to show that even with the unions pulling out all of the stops people see the truth that the democratic solution is not working. >> neil: adam? >> i think we are having a horribly lopsided conversation here. >> neil: we always do. >> first of all, money isn't the only factor in an

ben stein, thank you.ng jetblue airways involving that flight, remember that midflight meltdown not too long ago. we'll talk with one of those passengers about what he wants. the medicare debate continues in washington... ...more talk on social security... ...but washington isn't talking to the american people. [ female announcer ] when it comes to the future of medicare and social security, you've earned the right to know. ♪ ...so what does it mean for you and your family? [ female announcer ] you've earned the facts. ♪ washington may not like straight talk, but i do. [ female announcer ] and you've earned a say. get the facts and make your voice heard on medicare and social security at earnedasay.org. fiber one. uh, forgot jack's cereal. [ jack ] what's for breakfast? um... try the number one! [ jack ] yeah, this is pretty good. [ male announcer ] half a day's worth of fiber. fiber one. >>> at age 14, she was the youngest member of the u.s. gymnastics team in the 1996 olympics, but dominique moech jano w

but you know, ben stein, i want to switch over to you, because as near los angeles, i think the mayor just today is saying much the same sort of thing, right? and so, what's going on here? >> well, there are several things going on, neil. one is that the unions are basically saying, look, you cannot abrogate a contract by the vote of the taxpayers, we have a contract, they're suing for enforcement of a contract and second thing, there simply isn't enough money in the world to pay all of these pension costs. no one loves firefighters, police, prosecutors prison guards more than i do. i love and worship them, they're great, great people. but we just don't have the money and something's got to give and going to have to be the generous pensions. it's a great shame, but something's got to give. >> i see. this is much bigger than wisconsin. >> i'm not crazy to be prison guards to be honest with you, the rest i like, but-- (laughter) >> and never too early to put in a good word. >> family and friends and-- at any rate, not going to go there. i think this is bigger than wisconsin, because thi

. >> we go to ben stein and charles payne and dagen mcdowell along with adam lashinsky and charlie gasperinoight. and i mean, and you know, it's funny to hear the media covering this thing and the great things it protects, it leaves out the great costs it also presents. >> and it leaves out the media, leaves out why it's constitutional. and listen, just on an individual basis, just for people, forget about the companies, small businesses,

reaction, joining us from los angeles, economists and pundit ben stein. christian doorsy. director of the policy institute liberal think tank. why did the unemployment rate tick up in may? >> short answer, bill, is that we had a lot more people entering the workforce. not enough jobs being created to offset the number of people entering. we had about 650,000 new entrants to the workforce. we only added 69,000 jobs on net. that's going to drive up the unemployment rate modestly like we saw in the numbers today. >> bill: did they come from colleges because of college graduations? where did they come from, these people who want jobs? >> this is mostly people who were on the sidelines in previous months. the last month we had a number of people who dropped out off the workforce. >> bill: so the ones that dropped out are coming back. >> that's right. >> bill: all right. why do you think unemployment is so stubborn, mr. stein? is there another reason other than people coming back and looking for jobs? >> that number that comes in and out of labor force bounces around a lot. whil

here with his opinion and a suggestion about that is is our contributor ben stein. >> reporter: in 2008stake. while history showed that in bad times government must never allow a major bank to fail, the feds allowedlyman brothers one of the five biggest banks in america to fail. there was a lot of talk at the time about costs. but at the end of the day the whole credit system of the u.s. went into a sort of cardiac arrest that cost trillions over time. we're still feeling the effects in a big way in high unemployment, a collapsed housing market, and a sour, miserable mood of fear that has settled over the land. now we're about to make another terrible mistake and hammer the economy yet again. slam it while it's on its knees. greece, far-away greece, may have to default on its debt and are leaving eurogloan very soon. spain has close to 25% unemployment. that's a real depression. italy is reeling. if these countries go default the effects will be serious. greece is a small nation but many european banks own a large amount of greek debts and our banks own a large amount of those banks. if

plus, economists author ben stein joins us in the hot seat. he's taking your questions.hank you, watch closely on the upper right-hand corner of your screen. you can see an suv slam into a woman on the sidewalk. her body goes flying backwards. >> i was in a lot of pain. i started crying and everybody at the bus stop was wonderful. one person was holding his hand and another this one. i'm not angry. i'm a little confused why they didn't stop. bill: i bet she is. britney is recovering. doctors say she cannot walk for three months. a manhunt is underway for the driver responsible. martha: new questions over the health care ruling and whether the law would have passed if it were initially pitched as a tax rate yesterday, nancy pelosi was asked whether the individual mandate constituted a tax payment this has of course upheld the legislation. i think him and i have to see in specific language that they identified with how they wrote the bill in the house. as part of this decision. part of the documentation for the decision. call it what you will, it is a step for america's fa

ben stein made a comment. he said it was an insider financial rape. if you look at the late-1980s when we have the savings and loan crisis, there were some people that were prosecuted. this was much larger, much larger. except for bernard madoff, you've not seen any prosecutions at all, because these are the people, the very wealthy, who took even more, they control the process. they are the international financial elite. they are on wall street and in london. this is what happened. money was illegally confiscated by this international financial elite. take a look at lehman brothers, for example. they went under but the chairman walked away with $400 million. i would like to -- to know why. host: looking at a story in the wall street journal that relates to what jack was talking about, warning flags raised two years ago about the trading loss -- let's go to schenectady, new york, pamela making under $50,000. we're talking about american wealth and how it has declined. you feel less or more wealthy than a few years ago? caller: definitely less. a famil

ben stein, charles payne, dagen mcdowell along with adam lashinsky and charlie gasperino, charles payne