tv Bulls Bears FBC October 25, 2015 6:00am-6:31am EDT
>> the only way you can turn a dissident minority idea into a majority idea is if a society has the space to think. >> the space to think. that's worth fox and friends for more. >> have a great morning. see you tomorrow. >> everybody wave. >> bernie sanders planning to deliver a major speech on socialism within days. a reported $18 trillion in new government programs and now he says one of them will cost everyone. not just the rich. hey everyone. this is bulls and bears and feeling the burn could have your wallet burning. the democratic presidential candidate wants everyone's taxes to go up to pay for family leave but not all americans think it's a good idea. >> paying more for taxes? i think we get taxed high enough now. >> yeah. i'm willing to do it. absolutely. >> i think that it's inevitable
that taxes will probably always just go up. >> that's terrible. >> we need to get people that are dependent on social programs. and then we won't have to pay so much in taxes because we'll be creating jobs. >> i'm not willing to pay for more programs. we got too many programs. >> we got to pay for it one way or another. so i'll pay more. just don't waste the money. >> there's other places you can save money and it's not always just taxes people. >> would raising taxes on everybody backfire on everybody. >> welcome, everybody. susie will bernie's plan burn everyone? >> this is something that everyone is going to feel. he wants to raise taxes for family leave but it's to increase all social programs. my husband jack and i were recently in reno, nevada at a conference of auto glass
installers. he said how many of you would hire somebody if you could when you went home but you can't find who will take a job for a little bit above minimum wage and every person in the room raised their hand. nobody wants to cut out all safety net programs but what he wants to do is build a safety mattress. so we're going to have a no work nation where people rather stay home than work. that's what happens. you're paying for people to have the kind of social programs where we have no participation and nobody is working and that is a big backfiring. >> well, chuck, there is a disincentive when more money is taken out of your paycheck to work. >> if a woman has a baby she can stay home from work and get compensate. it's a little bit more out of your paycheck. but there's a reason about 1.3 million different people have given bernie their money and his average contribution is $30. because they believe in it. you would get increased
productive and it would be a good thing. i'm not saying just give all the money to the government. i'm just saying i think it's not a bad idea. >> if john beats you up you'll know it and we all love you chuck. but john take him on. >> no, chuck is my good texas friend. but we disagree. this is like running for student council president where you say everybody gets free pizza and you say how are we going to pay for that? let's just get the rich kids to pay for it. it doesn't work anywhere in the world. they tried it in france with a 75% tax on the super rich and end up hurting themselves and they had to resend that tax. >> but john this is about everybody gets taxed. >> correct. when he was pressed down on this he said he was going to have to raise taxes on every single person to pay for this. this message plays real well brenda when krour tayou're talkt the super rich.
if the economy was really thriving right now this would not resinate so much but this populous message does. but what you have to do is break problem at the core. we're not doing that. putting more money in the social programs is not the answer. fixing the social programs, that's the answer a. >> john. >> well, at least bernie is being more honest. you can't have the european model. that doesn't really work. in europe they don't do that. they actually tax the rich, sure, a especially in france but they also have value added taxes that apply to everybody spending money. we have really cut back on taxes to the middle class and even the clinton regime on the sub $200,000 level. we can't have more benefits without raising taxes across the board. what kind of economy does that lead to? well it's like europe. you'll have a fair society for
some and not to others but generally higher unemployment and slower growth. >> the economy is not doing very well. is this the worst time to take money out of everybody's paycheck? >> i think it is brenda but first did anyone get jealous when suzy said she and jack went to that auto glass installer conference. >> it was in reno, nevada and i love that place. >> apparently i'm missing all of these really cool events. but bernie sanders was definitely honest. i give him props for that. but this fails like all other nutty big government ideas on three points. one, any government spending is
inefficient. second point, why does bernie sanders think he can get our money and spend it better than we can? they can't. government shows that over and over and third, maybe the most important point is that they have done study after study of the optimal size of government. it's 25% of gdp. do you know what ours is? 35%. so any argument you can make for government spending fails on one of those three points. >> let's get back to taxes. that's what he wants to do. take money out of everybody's paycheck. the last democratic candidate didn't do that well. how do you think this is going to play out? is this the worst time to do it? >> lip service is cheap. you asked them on the street and you saw them in the tape say, yeah, i'll pay more but if people are paying more people want to work less. who wants to go work for 10% of
the dollar they're bringing in? it's simple human nature along with economics and the more we tax and the less people are going to work, that's not the country that we are. it's not the economy we want or the country that we are. >> and chuck, against, the recovery, a lot of people think we're not even in a recovery right now. is this the best time to be doing it? you can argue for the family leave and social programs but to actually take the taxes out of people's paychecks. is this the right time to do it? >> well, he talked about the tax rate was much lower than it was when we had president clinton. i'm not saying to raise taxes on everybody and it will get us out of all of our problems but you want to increase product activity and if raising taxes just a little bit, if that helps do that and everybody pays their fair share, our problem with taxes in the country is people get around paying their fair share of taxes and a small business guy like me has to raise taxes and then some.
sometimes you have to raise it a little bit to get what you need to accomplish. >> john, do you? >> no, you don't. chuck is right about this. small and medium sized businesses pay all the taxes because the big corporations have gotten tax breaks for decades now. bernie wants to make everyone equal by making the rich poorer. i want to make the poor richer. i work a lot with at risk kids and if you tell them you get an education and get a job somewhere, the problem is jobs are not there for these young people. we got to get something going with our economy and to look to europe and say, hey, aren't they really great? i don't think they are. nothing against europe. i think america is the innovator and has been the leader. why look to another country for our mold when i think that our country is okay. it's almost an antiamerican sentiment. >> all right. thank you. and what have you got? >> well, halloween coming a little early to washington as the debt limit deadline closes
in on washington. we separate the fear from the facts. and paul ryan wants to lead the people's house but he also wants to spend weekends at his house. does that demand fly in your house? we'll see you at the bottom of the hour. >> you will. we can't wait. but up here first, no charges for lois lrener in the irs targeting probe. no one fired after benghazi and hillary clinton is asked why. think aónóv
>> you're telling me that you had no authority to take anyone's paycheck, you are telling me you were legally prohibited from doing that? is that your position here this morning? >> it is my position that in the absence of finding breach of duty there could not be immediate action taken. >> outrage growing over no government accountability from the tragedy in benghazi to the irs targeting scandal, no charges, no big firing. could the private sector ever get away from making big mistakes with no accountability? >> absolutely not. you try get subpoenaed by a court, by a government, by anything and tell them that your e-mails have simply disappeared or you cleaned your server and they're no longer there. that's not acceptable for any citizen. what happens is this thing with benghazi is is a terrible
tragedy. listen to mayor juliani talk about the fact that there were rockets there and obviously it wasn't but the problem is it gets spun into partisan politics so it's just republicans going after mrs. clinton or lerner. it's not a big deal. it is a big deal. we need answers to this because you have people that died and people that were targeted. specifically targeted. this was admitted in the justice department probe. a disproportionate amount were targeted for real money and nobody is kculpable for this. >> should it work more like the private world. >> what we learned from the recent sony hack, the manager and directors make a half a million dollars a year in l.a.
you're running the whole irs. that job would have to pay a million dollars. so you already have this huge pay cut. >> if she did something wrong, shouldn't she be held accountable? >> if you do a job and they're like this is a job you can't get fired from i would expect that job to have a lower pay. let's not forget it has the embarrassment factor. i can rationalize not firing people given their pay. >> chuck, you were a small business owner. i bet you're not afraid to fire somebody not doing their job. >> i'm never afraid to fire somebody not doing their job. our government is a mess. there's a reason why there's a special committee. there's a reason before they have an fbi and investigation. you goat call people up and they have to testify. does it make it right or wrong? that's showing what the people's power is by being able to call a special investigation and do this work. if you go back to the private
industry, back in the 70s companies told you the cigarettes were good for you and exxon and oil companies could pump oil into the gulf of mexico. there's probably certain accountability but i don't think you can compare apples to oranges. >> i'm scratching my head at what i'm hearing. first of all there's some length between what someone gets paid in government and whether they're accountable. that's dumb. first of all, there was no culpability in bp. say that ups decide i'm not going to deliver packages on that street because i don't like the looks of it there. what do you think would happen to ups? they would be fined and taken to civil court. they'd have to pay billions in damages but the irs is looking at the interest groups and what happened? we made a mistake.
it was just an oversight. nothing ever happens. she gets a nice pension. it's ludicrous. >> is it suzy? >> business is business and politics is politics. never the two should meet. will they? probably. but nobody got fired because in that political system in the administration they don't think they did anything wrong. so why would they fire them? they showed they're accountable to their party and they did what their party believes in and supports. i love the way business works. when there's a crisis or scandal there's blood on the floor. people are held accountable but that's not politics. >> thanks guys. cashing in just over an hour from now. what do you have coming up? >> it's amazing what happens when you put hilary on the hot seat over benghazi. democrats lecturing republicans about spending. really? plus some groups are threatening a boycott because donald trump is hosting saturday night live. cashin in seeing you at 11:30.
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before you take off. better get your registration on because the federal government now pushing for all recreational drones to be registered before taking flight. the new regulations couldin bef this doesn't go far enough. >> i'm going to depart from my libertarian roots here and say government should have drones.
industries, the companies should have drones. everyone else doesn't need drones. it will just create mischief. they'll be spying on neighbors. people don't need drones and i don't see the worth of them and i would ban them. >> you don't believe that. absolutely not. what is he going to do for his red fish down there. when glenn curtis and the rwrigt brothers were fighting over the airplane in the 1900, we need flight plans and flight regulations. this is the future and this is where we're going. we need more regulation on this to keep them safe. >> you see drones. every day you take happy out for a walk. >> i hate regulation but i hate drones more because i take happy for a walk at 7:00 a.m. every morning and i see the hobbyiests playing with the drones. they have 16 year old boys and they're guys in hoodies and
flying their drones around. we must regulate these into almost -- i'm with gary on this one. they're a tragedy waiting to happen. >> you don't agree with that i bet. >> it's like someone saw a kite and said how do we make this dangerous and more noisy for everybody. >> i have been singing my song. this situation, the localities have this on a nuisance level and they need to forget they have the insurance. look, i can take a class, i got to get insurance. just to pay a tax, just to drive a little scooter on a highway. they're flying aircraft around with nothing. it's the most ridiculous thing in the world. you have to get insurance so when they hurt somebody. >> riding a scooter. >> you can't find an insurance company that will insure you.
>> i told him not to admit to riding a scooter. >> here's what happened. the holiday season is a bonus and red necks figured out they can spot deer with these drones. so they're going after the airport and next to that is the woods. all my buddies back home got a drone they're going to figure out how to put a drone on it eventually. they don't want nobody having no drones or going near the airport. they're not going to be safe because when my buddies that can't drive a truck are driving a drone, we're going to have a problem. >> is it because you moved to florida? >> and own a scooter. >> all right. thanks guys. thank you suzy and chuck for joining us. we're going back to the future. one of our guys shows you what one of our guys shows you what he looked like 30 years ago a
hand apparently, they also lovee stickers. g. for fast-acting, long-lasting relief. what's up with these things, victor? we decided to give ourselves stickers for each feature we release. we read about 10,000 suggestions a week to create features that as traders we'd want to use, like social signals, a tool that uses social media to help with research. 10,000 suggestions. who reads all those?
he does. for all the confidence you need. td ameritrade. you got this. >> predictions. >> amazon had a great last quarter. it's not done. the stock is up 50%. >> bull or bear. >> bear. >> john your prediction. >> i bought chevron. it's a great stock to own for the next five to ten years. up 20% in the next year. >> bull or bear? >> not great to own in any time frame. >> one of the things they got right in the 1980s is today in 2015 people will be wearing athletic clothes all the time. that's why lululemon is going to
come back to 25%. >> that was a buy level cut. >> you're cute. but our producer is cuter. in 1985, what did you look like? aw. >> she still is cute. >> our great country to default the day of reckoning will be terrible. >> each day as we draw closer to this deadline it's at the expense of our economy. the expense of jobs. >> could put our financial system in the kind of tail spin that we saw back in 2007-2008. >> don't threaten to shutdown government. it's not a tool. it's a weapon. >> let's take the threat of economic catastrophe off the table now before it's too late. >> who knew. halloween is already here. hello, everyone.