tv Your World With Neil Cavuto FOX News September 24, 2010 4:00pm-4:59pm EDT
tyle lite te strs. call or click today. >>neil: the vote not coming, the anger building. welcome, everyone. i am here for for >>neil: -- for neil kneel and no vote on the tax cuts. businesses, the delay could be deadly. because instead of hiring, some companies are forced to fire workers because of the uncertainty. so the poller joins us now. democrats, some, believe they are being smart by delaying a vote on the tax cut. are they? >>guest: there are members that would have had the chance to vote against the leadership, 35 or 40 members and win the vote if everyone else was unify giving them the chance to say
wait, i understand small business concerns and the business community to create jobs but you need extra money. but, instead, they deny the 35 members a chance to vote. they are done. this is the last desperate ploy. >> what do they do? >>guest: the problem is they will go home and not make the changes, they will not fix the health care reform, they will not change the budget or tax legislation, they will not reduce the stimulus, they will not end the bailout, which is why the republicans put forward the "pledge for america." and in it it has things that have 60, 70's, and 80 percent support. they are in trouble. >> nancy pelosi recently commented about the tax cuts. >> it is about the policy. we are strong on that and members with a vote or without a vote can go home and talk about
their commitment to that. >> it is about the election. that is why they delayed it. and for her so thai that is wrong, the public has a right to know if they will support or oppose that tax increases and they should have the right to hold members accountable. she put the democratic party in a tough situation. you have surveys that demonstrate just how much the business community is hostile to what is going on in washington, dc. >> look at that, how do you feel about long term business decision and investment and 56 percent are uncertain. >> these are small business owners, c.e.o.'s, and the senior management people of small businesses and they are saying to washington, dc "stop." "enough is enough." and the chamber has been trying to get the white house and congress to listen saying this is not a republican or democrat
issue but a small business issue. but washington does not seem to pay attention. >> you have to give the speaker credit calling it the obama middle income tax cut and i wrote that she was wrong twice in one sentence but it is not the obama anything, and not a tax cut. there are two options: tax rates remain as they are. or they go up and we get the biggest tax increase in american history. >> you are precise. i wish more were like that. but it is a tax issue and a spending issue because if washington doesn't bring in the spending, it is going to come back to haunt businesses now, and their children and grandchild in the future. the business community, the survey was so valuable in explaining just why people are not hiring employees anymore. they are afraid of the regulation. afraid of the red tape. afraid of the cost of health care. afraid of all that is coming out of washington. and they waiting for someone to
say "stop, enough is enough." >> thank you very much. joining us are two business owners, the president of american bar products, delaying purchases. and president of grand america who is already had to lay off workers. welcome to the program. william, you her us talking about the majority of the people surveyed in your business say we are uncertain. william, are you uncertain right now about what will happen? >> he hit it right. the biggest concern is small business is the trade deficit spending more than they take in, and that is not sustainable. there are ways to stop it, raise taxes, and raise debt, or to cut spending. tax cuts would be like offering an olive branch to the business community and we are going to
address it and we are not going to fix it by raising taxes on you. >> your company has to lay off workers, what is your business environment like and what do you make of what you are hearing from washington, dc? >> well, the uncertainty is unsettling and discouraging to a guy like me. i'm a very small business. i employ 12 people. and today i went in to do payroll and wrote nine checks today because i had to lay off three of my people. and it's all because of the uncertainty. i quantities take chances right plow and i have to cut back. >> we surveys you and asked what do you think will happen to your costs next year regarding anything, taxes, health care, will go up? not down? >> it is guaranteed health care rates are going up. we have seen a 10 percent increase this year and if you ask me next year i assume they
will go up because the provisions in the health care bill passed by the democrats in congress, there is nothing in there which will reduce the costs there and this is one more structural cost i have to add to my business and i know most of the competition i face doesn't have to face that. we see a lot of product from offshore, from china, from brazil, from europe, from all over the world, and this is the market we compete in. the problem is that our government is not setting us up to compete effectively in an international environments. >> when the president gives a speech now we hear the two words "small business," and he says they are rolling out packages and approved $30 billion small business bailout in the form of a tax credit, and you are a small business. are any of the programs benefiting you? >> i am glad you asked about the $30 billion tax, small business stimulus package.
i was jogging the other day when they were talking about this plan and i tripped and almost fell i was so amazed at the arrogance of those who do not see what is going on. i have been to every bank in town, the government wants to give $30 billion to the local banks to loan to small businesslike me and they will not say to me, we would like to loan it but we do not have it, but they say your credit is maxed out and we need a loosening the credit before we can help you. >> they have the money, are you finding anything like that? we hear so much from the president we have to loosen this and we need to help small business, but you two gentleman are saying, this is not helping. it is hurting. what do you want washington, dc to do? >> well, i have a different view on credit. i speak to my banker regularly about investing and we see a lot
of available credit for companies that are good but the problem is there are not many borrowing and the ones that are, are looking to fund loss, we are in the early part of an exciting time, seeing a tremendous amount of globalization and product and service markets and at the time we are seeing china take off, india take off, brazil, europe recover, and america is lagging. this is unprecedented, trailing the rest of the world. >> many countries are cutting taxes, not raising. we heard the speaker of the house say this is not about politics regarding the extension of the vote on the extension of the bush tax cuts. do you buy that? >> i have a hard time buying anything the politicians are saying to me when they talk about helping a small businessman. the truth is most of these people have never held a real
job in their likes outside of politics let alone run a small business or try to meet a payroll hike i did today. they are so out of touch and i am amazed at their arrogance. >> i will leave it there. they have something you don't, an unlimited revenue stream from the american taxpayer. thank you very much. we told you the anger is building. fights breaking out between supporters of angle and reid in nevada. stay tuned. gecko: good news sir, i just got an email from the office
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>> and the goal rush continues. gold considered a safe haven in uncertain times today rose above $1,300 an ounce, the first time ever. but remember, folks, on inflation adjusted basis, gold was at $2,200 in 1980 but $1,300 an ounce and below that and up 18 percent so far this year. and more interesting, stocks rose also, the dow jones industrial average up 200 points and up 8 percent this month and september is usually the worst month for stocks. that will teach you to read history. and now banks looking to give loans to folks they decided were risky.
why? pressure from washington, dc. isn't this what caused part of the financial crisis? judge napolitano says a bad idea. why? >> a bad idea because banks should not be compelled to do with their money they have borrowed, what is imprudent. they exist to make money for investors and depositors and for themselves. they do in the exist to further the social policy of the government. so the government provides the state nest. one is the fdic and another is fannie mae and freddie mac and the government have not made us feel safe or anyone that understands the economy but for bangers that want to get reckless when they say "lend, lend, lend," give us the paper and don't worry about the credit of your customers, we could have the same crisis. >> do you look at your credit
record there are mistakes all over the place. what is wrong with a second look. maybe this was a mistake. >> nothing wrong with a second look if the second look shows mistakes. that makes the decision to helped prudent. but if a decision to lend is made because the government wants the money given, not because they are worthy of receiving the money because they pay back, would will pick up the pieces when they collapse? the taxpayer. that is the policy of the government and the policy of the bush administration. >> the taxpayer is on the hook for something else in washington, dc, comic colbert testifying on capitol hill. listen. >> america's farms are dependent on immigrants for fruits and vegetables. if you look at obesity statistics you see many americans should be eating vegetables and fruits.
>> a survey says we are indeed the fat of the country in the world but aside, what the heck was that? >> it was crazy. you pointed out in your introduction to the show they don't have time to vote on whether to extend the bush tax cuts but they have time to be entertained by that? do you know it is a crime to lie to the congress. this congress invited him as a farce. he is great, and brilliant and funny but i criticize the members of congress for wasting our time and our money. it cost the committee $125,000 an hour when they meet and sit. why? >> and on that subcommittee, a member did not go and said it was a farce and he flew back to utah. >> roger clemens was indicted for lying to congress.
did colbert tell the truth when he made the statements or do we have different standards for different people? or, is it worth testifying before congress? >> free speech protects satire but it does not protect lying to the congress. have interesting when you lie to liars, should you be prosecuted? >> that sounds like a math question. you can catch "the judge," on "freedom watch," on the follow business network. you spoke to a guy named glenn beck. >> on whether the tea party is a religious or political. >> i cannot wait to watch it. did we see the first republican enter his name on the presidential ballot for 2012?
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>> is today the day we her the first republican confirm his intention to run for president in 2012? the rock star of the tea party circuit, the former god father's pizza c.e.o. told the caller this "i will run proudly to the nonestablishment candidate, the public has the appetite." and now by phone, mr. cain. are you going to run for president in 20112? >> you skipped the important part, prayer flies considering a run, yes, i am, and i am honest about that and there are three things to take a good hard look at: first of all, building the
grass roots effort to support me. we have, that is going well. secondly, the ability to raise the money because you know, you cannot run a campaign off air. and, thirdly, what happens in november. i firmly believe that what happens will be a change of control in congress coming up if november could be a telling sign that the american voters are ready for someone who is a problem solver first and not a politician. so, i am prayer flies -- prayer flies -- considering it by prayer. i am strongly considering it. but i have not made a final decision. and it is because i, along with so many million voters across this country, are sick and tired of being sick and tired of what
is going on in washington, dc. some of it in both parties. and it is political elite attitude that they know best for the public rather than listening to the public. >> you are mad about what is dispoang on in washington, dc but i know what is not going on, a vote on this tax issue. they have time for colbert but not on time to vote on the tax hike. >> that is another insult to the american public but more importantly it is a slap in the face to the business community in this country. uncertainty, and you know this, that is what has brought this economy to a halt. uncertainty about the health care legislation, uncertainty on cap and trade and tax and kill but they put it on the back burner. unsrpty -- uncertainty about what the tax will be in 2011.
that is not, that is doing an injustice to the american people and most importantly to the american business community. 15 million petroleum are out of work. and they cannot find jobs because they don't want to pass, and the recession is not over for them. >> if one or both chambers of congress swings to the republican would that make you more or less likely to run? >> if one or both swing republican it would make me more likely to run for president, yes. >> something you are strongly considering? >> yes, with prayer. >> thank you, mr. cain. >> health insurance companies under fire after sending out notices to customers explaining rate hikes are coming because of the president's new health care law. stay tuned.
you are not a politician? >> no. a regular guy. >> you get a letter, and we have a copy of, outlining what? >> my insurance rate, monthly insurance rate goes up $140 to $7 on -- $705 a month. and i am a healthy guy. i had health insurance for five years and have never used it. >> you are not an abuser of the system because you are playing up the system. >> never used it. >> it says "enhanced benefits required by the new federal patient protection and affordable act," is now costing you 25 percent more? >> starting january 1. >> and the company says, emblem, they said they could have been clearer that obama care accounts
for only a small portion of the premium increase, they did not use those words but they said it is only a small percent. >> all i read is my increase is effective january. >> what do you make of this? >> we have health care problems. some aspects work and some don't. >> you called it "cash for clunkers" and now we have cash for broken arms. do you energy paying for someone else's used car or refrigerator and now you pay for someone else's broken arm. >> if 30 million more get health insurance is that good? >> yes. >> but someone has to pay. >> the problem with health insurance right now is it is expensive and complicated and as the price increases more people will drop out because the insurance companies cannot
compete. since my situation --. >> maybe that is what they want that people will leave private insurance and then, everyone will be on a government single-payer type. that is the goal of many people. >> that is not the capitalistic american way. look at car insurance, they eliminated fraud, they eliminated tort, malpractice insurance, and we are now inundated with commercial, the lizard, all state, and more, all better than the next but they compete for my dollar. that's the cap capitalistic american way. >> you thing we need more competition? >> and government out of it. >> can the government be a competitor, not just in health care but if anything as a private citizen? can the government compete?
well in anything? >> i would prefer they did not. look at their long list of projects they handle that we have always questions. post office. the borders, some things they are good at but some things they have failed at and don't do well. the capitalistic free enterprise system can do it. >> you did not mention amtrak. you need to shop for new health care. >> now that you brought that up since my situation came into the paper, two people got up and called me offering me to shop with them and i will start shopping. >> people love free markets. >> thank you. our economy sputters germany's economy is taking off. guess what they are doing: keeping taxes down. stay tuned.
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we are told here in america that the government basically is the only thing that can save us and we need to spend more. germany's cutting much of their spending, cutting taxes, and confidence is rising. what do you make of that? >> well, it is not, i never thought i would sit leader and think america would want to take economic advise from old europe but in this case they have gone back to basics, realizing one of their big problems was the government spending and taxes and one thing she has ton is given enough permanency to the proposal so that businesses have the confidence they need so they can put the profits into the business and agree them. >> germany has had problems including a small stimulus program but the reality is, confidence is rising. you have to have confidence for any economy to do well. what do you think we should learn from germany?
>> well, we actually have that choice in front of us today. and for a lot of your show you have talked about the lack of confidence people have because of spending of the tax policy and looking like congress is not even going to take a vote before the midterm, and that is not going to help you. today you saw the market, and based on feelings that the economy is going to get better but it is not getting better fast enough for people to grow the job market and that is what people are concerned about and what will affect the polls on november 2 under. >> we are facing the largest tax hike in american history if congress does not do anything, and they have time for colbert. you are washington, dc insider, what do you make of this? we have a chicken congress, to be honest. >>guest: it does surprise me they would not, that the democrats would not want to take this vote before leaving even if they are not going to extend all the bush tax cuts because you have to be for something.
and the lack of confidence that people have in our current congress, and, remember, today, they are at an historic low, if they acted, whatever it, be for something you will be able to make a choice but to punts the decision on taxes until after the election so you have all of the uncertainty that comes with a change, possibly a change in the congress, is just, really, bad politics for the democrats and they should have gone ahead and extended the tax cuts even if just for a year. >> do you believe if they had the votes to do what the president wants, which is extend the cuts but for the top 3 percent, they would have voted? is that in action saying they do not have the support in their own party? even on the rich. >> they do not have support to pass anything and now they are at each other's throats over the health care bill which obviously has not lived up to the promise that the democrats thought they would be deliver by now.
>> thank you very much. >> now a democratic lawmaker calling for some of the bush tax cuts to be extended. is he worried there may not be a vote before the elections? new jersey congressman joining us. congressman, welcome to the program. why haven't we seen a vote? >> we should. she was on to something solid were. businesses want predictability, what the ground rules are, businesses are sitting on cash and they have downsized in ways that are tough for the employment sector but ready to spend money if they know the rules. we have to keep our capital gains rates and dividend rates low, and keep them coupled so businesses can make smart business decisions. small, medium and publicly traded companies want to know what the rules are, as low as possible tax, and they do not want to see the capital leave the country, it is key to job
creation. take the vote right away. keep the capital gapes and -- gamed low at 15 percent. >> you have been rounding up democrats to extend most or all of the tax cuts so would you spoor the extension of all the tax cuts even for the top 3 percent? >>guest: we have to look at that in the context of deficits and job creation. doing that without cutting spending leaves the big deficits we have seen this decade that have gotten worse. i would want to do that but coupled with spending cuts that are real, long term, that are meaningful, so markets can respond and we are not just growing the federal debts out of control we have to focus on the tax cuts that create private sector jobs, and we took our eye off the ball the last year, dealing with the health care bill which did not reduce cost for business but added cost for many businesses as premiums rise. we have to focus on private
sector job creation and deficit reduction as the two crisis facing the country. >> the speaker is saying the delay is not about politics. do you believe that? >> well, i have not spoken to her directly on that but spoke to her directly on spending cuts which are critical for the psychology of family, and small businesses and business companies if we can see the congress cut back here and there, the symbolism of that, that frees up the private sector to hire people back and they want to see congress, republics or democrats, cutting spending, not talking about it, as republicans have done, but cutting spending, so the private sector can say, okay, the guys in washington get it and we can feel comfortable going forward with the rules. >> i get confused. we hear from a lot of members of we need to raise taxes on the top 3 percent because of twist but we never heard anything
about deficit passing $850 surplus plan and $1 trillion if new spending. >> on the stimulus, the chamber of commerce thought that was right to start job creation. >> i am just saying the deficit is out there. >> you are right. having done it, a recovery bill that was supposed to spark the economy we should have cut spending elsewhere. there are plenty of places to cut. anyone can see you can cut here and there and not weaken the national security, not hurt the vulnerable citizens but do it if a responsible way the way families and small business, and it was a missed opportunity the last number of years to not cut and we should have cut. >> from the great state of new jersey, congressman, thank you. if it tastes good, spit it out. that is one motto that jack
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>> 96 and still going strong. most americans do not make it beyond the 78th birthday, but jack lalanne will turn 96. he stays health was with diet and exercise. he has not had a piece of cake in 80 years. jack, a pleasure. listen, the chinese according to the "new york times" made fun of us, with a skit where they had a fat kid saying there's the american. what do you make of that? >> there are more overweight people than in our history. if you eat some of the food and some of the restaurants serve,
not to make an old dog sick, but people still eat it. cake. pie. candy. issues cream. soda. everything, they add this and that and you have to stick to mother nature, more fresh fruits and vegetables. natural grain. whole grain. >> it is official, according to a think tank the united states is now number one, we are the fat of the country in the developed world. >> that's right. i can't afford to be fat. affect my image. >> i heard richard simmons was talking smack about you. >> richard simmons? he has helped a lot of people. he is a good friend of mine. richard has done good work. give him credit. he helped a lot of older people, the older people that are fat and out of shape, they really need it. and richard really got them to
do something, keep up the good work. >> jack, seriously, do you blame the restaurant and food industry or do you blame the people? nobody forces anyone to do anything. >> who put the food in my mouth? god? the devil? who puts food in my mouth? i do. anything that i eat, i make it happen, good or bad. i don't blame my mother, father, my wife, i blame me. think about it. >> you cannot turn open the radio without hearing a weird diet, only eat popcorn and you get thin, what do you make of that? >>guest: something to make a buck. to make a buck. the poor people are gypped. you have to have a balanced diet, to lose weight, you have to keep under 1,500 calories a
day and you will lose two or three pounds a week. but you have to have a balance. certain amount of fruits and vegetables. and meat. and egg whites are trick protein. so you have to balance it out. >> that sounds boring. do you give yourself a treat? >> isn't it more boring to so your belly languaging down, and your butt, you think someone padded your back side. remember, god helps them that helps themselves. i hope and pray that each and every one of you do something to help the most important person on this earth: you. i have a new plan out called better balance for life, and you can get more information at
www.jacklalanne.com. got that? okay? >> we got it. good advise. can you leave us with flex, 96 years young. >>guest: everyone says, oh, the good old days, they are right this second, these are the good old days. ♪ this is the moment what i used to do is water under the bridge. it is what you are doing that controls what you are going to do. i hope and pray you do something . >> happy birthday, sir, thank you for coming on "your world." never thought you would see a tea party rally in hollywood? you will.
forget the red carpet. get ready for the rally. the first official beverly hills tea party is just days away. politicians. actors. producers. ready to pound big government spending. next guest is leading the star, pat boone joining us. pat, i can't wait to get outside. i will look in the sky for pigs that are flying. hollywood and tea party. how is that possible? >> who could imagine such a thing. it is because we citizens and this are a lot of citizens in beverly hills, and on the whole spectrum, we are just really tired of answering the pollsters telling folks what we want and writing our congress american
and senators and having them ignore us and saying, what do you know? we know what is bet -- best for you. so, the tea parties are springing up all over the nation as you know and they are spontaneous. it is not republican. it is in the democrat. it is just citizens saying "we want to be heard," and this in beverly hills started like all the others, a neighbor up the street from me, i had not met her, and about eight doors up, comes down and rings my gate, we meet, she says we want to have a tea party in beverly hills and i said will you help and i said you have come to the right place and slow and i and others pitched in and we will have a slam-bang drug and drums, if drugs, drums and fife, and pad -- patrick henry guy, and i have
written a new song called "i am an american," and we will introduce it, but we have great speakers as all the tea parties do. >> i am surprised. i know some folks that are not screaming liberals that scurry around beverly hills because sit a liberal area. are you afraid of a backlash from your friends? >> no, i am like jack lalanne, it is too late for them to scare me. and, by the way, jack is my hero, and he makes me feel so young, obviously, this is largely liberal territory, but, there is a growing and i mean growing group of conservatives on all levels, executives, prokers, -- producers, and one producer will speak and a six time congressman coming out from
ohio, and we have victoria jackson performing, flying in from orlando, and a cuban ex-patriot, a laid saying she fled castro's cuba before saying communism has not worked and sees our government headed in the same direction she fled from. it is not a political party but grass roots, citizens, even in beverly hills saying we want to be heard, and when we elect someone to go to congress we want them to do our bidding, not us do theirs. >> you are campaigning with angle next week and i hope you have been working out because we are showing a brawl between supporters of reid and angle. are you ready to throw some weight around? are you scared? >> i am not scared at all. we have good police coverage. it will be 1,000 or 2,000 from
2:00 to 4:00 in the afternoon and i have been to las vegas campaigning for sharon and she is going to give reid the retirement he richly citizens. >> thank you very much pat boone. a pleasure. something else big: a new show on fox business network kicks off at 2:00 p.m. and you did not think i will not plug the new show on fox business? i am, check it out on monday at 2:00 p.m. stay tuned.