. >> gary b smith, tobin smith. jonas max ferris along with bob froehlich and mike norman. bob, this week alone. announcing two million dollars in new spending plans, with the economy starting to add jobs again, as stimulus dries up. is more spending the answer? >> no, absolutely not. i mean, i think the reason why we're finally seeing some positive job growth is we don't have the stimulus, so, the government needs to sort of get out of the way and let corporations do what they do best. and that's make money and create jobs and plus, brenda, they don't even have the money for another stimulus. look at in five years, our debt has gone from 5 trillion to 10 trillion and how can you be talking about a stimulus and think about short-term. so far this year, since the budget season started, we have spent 1.5 trillion, and took in 869 billion. oh, my gosh, we're spending twice the amount that we're taking in, how can they even be thinking about talking about more stimulus and we don't need it. i think it'd be a huge mistake and do nothing, but help the job market. >> gary b. what

tobin smith. jonas max ferris, along with todd and susan ott. >> todd, sticker shock is go to he bet worse. >> got that right. food costs are up. and some economists are predicting 25% increases just this year alone. gas is up 6%, it continues to rise, and it's not going to stop soon. all of us need to be prepared and the economy, the global economy is at stake right now. because of the higher prices. >> gary b. you're seeing the same sticker shock, does it worry you as much? >> no, and no. to be dtsdz. >> what do you really think? >> well, look, look, if everything that we, you know, every dollar that he we made was spent on either food or gasoline, i'd be in todd's corner. but you know, we spend our basket of spending is on a lot of things, it's on electricity, it's on natural gas. it's on dining out, for example, and overall, inflation, even though we've been talking about it constantly is still under 3%. as far as gasoline, i'll acknowledge, todd's point it's up 7%, but inflation adjusted, we'

tobin smith. gary b smith. jonas max ferris. will soaring prices take the fuel out of the recovery. >> yes, a good chance bringing us back to a double dip recession. you talk about this, if goes is $5 a gallon national average, a good chance what's happening with the middle east right now we could see, you know, not only the recovery end, but what we're going to see is people driving to and from work. i drive a car and this is going to hurt me. every good i buy is transported from the manufacturer to the retailer. and passed on to me. when i go to the store, i'll buy something, higher than a few months ago and the bigger thing, confidence, if i walk by a big screen, and see gas at $5 then i'm not buying anything. >> brenda: gary b. you're he not sure about that. basically everybody continues to spend even if they're spending on gas, but fuel, basically the economy, doesn't it? >> precisely, brenda. two points, i guess, one the credit suisse did a study, if gas went up another 50 cents it takes about 50 billion out of the economy

the bulls and bears this week, gary b smith, tobin smith. jonas max ferris along with john and david mercer, welcome to everybody. gary b, the highest combined tax rate, will that lead to more unemployment. >> we'll soon be number one in unemployment if it continues. look, if it says that higher corporate tax rates don't affect unemployment they've never worked in business at all. here is what happens, we've already seen this, corporate tax rates remain high. what are companies doing in this day of mobility, they're outsourcing, they're relocating and expanding faster in foreign countries than they would over here. they're hiring less people because a higher corporate tax rate goes right to retained earnings. they have less money to hire people. if you don't believe it, just look what's happening with the the states, brenda. we've seen states that have lower tax rates and attracting business and talked about this last week, as a matter of fact. and to indiana, i believe, that has lower tax rates and attracting businesses from other states wi

tobin smith is ceo of mbp equity group. thanks so much for being here.lifornia lawmaker says that the answer to the rising gas taxes in california and other states could adopt this is to do away or to freeze the tax on gasoline. he says that could save $1.4 billion a year. >> oil makes up 70% of the cost of gasoline. if oil prices are going up and the taxes make up 12% it's going to be a smaller piece of a rising pie. he doesn't have control over the prices coming in. it would put a ceiling on the amount of tax. >> the freeze on the percentage that's being paid. the price is going up and the tax remains the same, the tax doesn't increase overnight. i don't know where the revenue comes from on this unless quite frankly they do something to pull gas prices down. >> our energy problems starts with president obama. it starts at top. he has a war on fossil fuel, coal, oil and natural gas. for every penny gas prices go up that's a billion dollars a year less in consumer experiencing and consumer experiencing is 70% of our economy. so obama's war on fossil fuel