welcome to "cashin' in." our "cashin' in" crew this week is wayne rogers, jonathan hoenig, tracy byrnes, along with xarly gaspa -- charlie gasparino. pick up his new book "bought and paid for." also this week, democratic strategist tara dardell. welcome to all of you. jonathan, you may get your wish this time. you have been pitching a national sales tax for years. the fair tax. it looks like you may have it. >> we've been talking about a flat tax, fair tax as it's called on the show for years as you pointed out. now championed by the tea party movement, a dominant political force in the country. thank god it is! this would be a miraculous achievement for the country. it's fair. it treats each person individually. it doesn't have special breaks or treatment for this group or that group. easy to understand. my god, we spend literally billions of dollars every year just trying to figure out how to file your taxes. if charlie and i go to dinner, is it business dinner or personal? it's arbitrary. >> all business.

find out what it is on "cashin' in." but first -- >> another wild eyed leftist radicalist. >> anti-business charges against the president mount, one of his top economic guys is rushing to his defense. is former fed chief paul volcker right or wrong? hear our fox business exclusive and you decide. ♪ [ male announcer ] every siness day, bank of america lends billions of dollars, to individuals, institutions, schools, organizations and businesses. ♪ working to set opportunity in motion. bank of america. i've been looking at the numbers, and i think our campus is spending too much money on printing. i'd like to put you in charge of cutting costs. calm down. i know that it is not your job. what i'm saying... excuse me? alright, fine. no, you don't have to do it. ok? [ male announcer ] notre dame knows it's better for xerox to control its printing costs. so they can focus on winning on and off the field. [ manager ] are you sure i can't talk -- ok, no, i get it. [ male announcer ] with xerox, you're ready for real business. oh

welcome to "cashin' in." our "cashin' in" crew this week -- wayne rogers, jonathan hoenig, tracy byrnes, with charlie gastparino from the fox business network. pick up his book this october. there is the cover. also joining us, christian dorsey from the economic policy institute. welcome to all of you. all right, wayne, no, way, you're fired up over this. the president says extending all the tax cuts will cost the government money. yes or no? >> well, i'm not so fired up as i am startled by the logic that says hey, by the way, sticking up a guy, you know, robbing a guy and saying i'm going to take your money before you can lend it to me. it's crazy. the government is spending money they don't have. they don't have it yet. so how can the president say oh, this is going to cost money? it's my money. and they're going to take it. it's crazy. let me tell you something else. you realize that the top 1% of the people in the united states paid 19% of the taxes prior to the bush tax cut. after the bush tax cut, those

trader art cashin says, for equity investors, this year is likely to be no different. >> i think there's a great deal of uncertainty out there. there's political uncertainty, there's economic uncertainty. i think some of those problems in europe may begin to resurface again. so there's a lot of risk factors. >> reporter: others say september's fate rests mostly on the health of the economy, and in particular, corporate profits. right now, third quarter earnings are expected to be strong, up 25% over the same period last year. but strategist jim awad says he'll be watching pre-announcements from corporate america, often released in mid- to late-september. >> more importantly than the macro numbers, which tend to be rear-view looking, you want to look at what companies are saying real time about what they are experiencing in business, in business as we work our way through september. >> reporter: s&p strategist sam stovall predicts this september could be a rough one for stocks, because the market is facing so many headwinds. >> while we do have attractive valuations on a longer term basis

floor trader art cashin had predicted a down month for stocks. but he says the economic winds have shifted, ever so slightly. >> what we've seen in september, rather than the usual nail- biting-- seasonal nail-biting, anyway-- is kind of un-pricing the double dip. so the fears that had moved the market down on a double dip started to ease back out. >> reporter: some attribute the recent rally to the simple fact that stocks were undervalued after a rough summer. others say investors are realizing third-quarter corporate profits are likely to be strong. according to thomson reuters, eight out of ten sectors of the market are expected to post positive profit growth when reporting starts in october. still, market strategist art hogan says he's not sure investor sentiment has shifted, at least not yet. >> i think if we walked around this room now and asked 100 people, probably 85 of them would tell us the next move is down, not up. sentiment is very bearish. i think that people believe we're going to break out of this trading range and probably break

but the "cashin' in" gang says hey, it's not the government's money. what is not to afford? plus, remember this? >> time to give all americans a complete and competitive education from cradle up through the classroom, cradle up to career. >> is the craid to career plan the reason why more and more americans are tossing the student loan bills in the trash? we debate. you decide. hi. you know, if we had let fedex office pri our presentation, they could have shipped it too. saved ourselves the hassle. i'm not too sure about this. look at this. [ security agent ] right. you never kick off with sales figures. kicking off with sales figures! i'm yawning. i'm yawning some more. aaaaaaaand... [ snores ] i see your pnt. yeah. snores ] [ malannouncer ] we understand.® you need a partner who delivers convenience. next time use fedex office. [ man ] if it was simply about money, every bank loan would be a guarantee of success. at ge capital, loaning money is the start of the relationship, not the end. work with polaris every day. at ge capital, we succeed only when they do. whoo! awesom