tv Cavuto on Business FOX Business January 12, 2014 1:30am-2:01am EST
suckers are fighting the polar vortex. >> that is a qualcomm product up 50%. >>he smart thing i will say right now is happy gary b! >> thank you very much. >> well isn't this rich? he's not just the rich. it seems that everyone else has thease of the health care blues. talk about stuck in the middle. why so many are raising tir middle finger. according to a new survey from bankrate.com. we all have a serious case of health care.bum, calm it the middle class cantasia, more than 50% of those earning $50,000 to $75,000 see more money taken from their paychecks to pay for health care. enough to make you sick and our panelists puke. >> by the way, i want to thank
my buddy for nil ifillg in the past few weeks. something irked me. >> that is this, i discovered while i was out it's a little annoying. >> from my old graffiti days. >> you will remove the kahuna. all right. what you want to say about this health care thing. >> it's been a disaster. >> now we are seeing the numbers. >> we are seeing the numbers. nancy pelosi and everyone else id we will like it the more we get to know it. the answer is wron it was always there because of the basi math. we will add 30 million people, take away option. not put the privat sector in there. we won't have any kind of legal reforms at all. we will do it all on the backs of the youngest, poorest people in the country. yoej. it's not working. >> you are seeing it already with people who not the health insurance throh the exchanges. you will becae of the roles
and the coverage mandates and what not. you are going to see all of these costs passed on. higher premiums. will you see higher co-pays, high deductibles for everybody in this country. there is a lot not in effect yet. the employer mandate doesn't go intoesque for another year. >>ry to be fair here on this. >> that is that, deductibles have been going up every year prior to this right? we all had to pay more and our childr more for health care. w much do you think, you know, exacerbated by this? >> i think it's odd you try to make me be the fair onehere >> no. no. listen. >> you can't even spell fair. >> adam. lovely. >> go ahead. >>listen. i thk it's a train wreck. i think this is a train wreck politically in one of the worst way zbrs wait a minute, to my question, do you think it would have been the case without the health care law?
>> i think they have doubled down, i have beenaying this on a bad law. it will be even worse than what it was before and i think what makes this politically extremely dangerous for liberalism in general is the fact that most of these sort of entitlements, social security, they help the midd glass. the pain is paid for when the economy grows or by debt. so you extuned it to future generations. what is d for democrats is that the pain comes now. the middle class is getting screwed right now and i have a little smile on my face because i'm telling you, this is politically, this is political dynamite for the democratic party. >> you don't have a smile on your face because the middle glass is getting screwed. >> because the guys that wrecked, created this thing are probably being to be thrown out. >> adam, you pretty much concur? >> well, you know i'll do you the courtesy of answering your qution, neil, that charlie decided not to answer beause,
yes, your question is the right one to be asking. deductibles are going u employers have been trying to put more expenses on their employees. they have been doing it for years. >> i know, it gets more so with this. >> not, well, the short answer to that question is we don't know. i mean, it's interesting. they asked the employer if employees in december are you seeing more? are you paying more money out of your pay connection? as an employee, employeesren't necessarily the best sources on what they have in their paychecks. >> you know, employees are not stupid. they know what they net. they see that final figure. i know your intention was not to try to lead us there, though you did. but there seeing the net results. they are paying more for this stuff. it is coming out. >> be you the iportant part i want to make i it's not coming out of there. it wasn't coming out of their hyde when they answered this survey question. because it hadn't taken effect yet. obamacare hasn't taken effect.
so you ask people, are your deductibles going up? the answer is yes. we don't foe why. they don't foe why. we haven't proven anything. this isn't a political point, charlie. >> as the new year kicked in, you can see what's coming out. >> not only that, though, the actions have been taking place before leading up to this. so employers have takening as based on the obacare health care law in place for a couple years. >> this idea that the rich will end up paying for this. it's going to be everybody paying for this? >> i think charlie had on the screen, guys, 50 to $75,000. we used to debate what will be the new rich? be careful. >> whatever pays this? >> by the way, does warren buffet, do they pay all the tacks? no, it's people that make around $100 grand and up who aren't really. >> all youren in padres will pay indirectly. don't forget four years from n that cadillac health care plan tax goes into effect. it's a 40% excise tax on very
generous health care plan. so that will change the health insurance f a lot of americ. >> remember the president said the old way is horrible. he's right. but this is the old way times 5 million. this is literally the same stupid system of subsies and rationing and insurance companies being in bed with the government and having to deal with mandates and ta. >> is that much larger? >> so it's even going to be worse. >> to th latest story. i was in the back of the cab. i was not talking to the cab drive i was alone and there was a man driving the cab and he had his health insurance company on speaker phone on hold and he started randomly ranting to me, a foreign-born gentleman immigrated to the u.s. he said i'm trying took law abideing person in this country and buy my health insurance. he says i am paying so much more before i was buying my insurance through these exchanges. this is going to hurt me.
it's going to hurt my family. i can't afford tis and this is obamacare. >> a little more simplistic than a lot of you. not as briechlt i always look at it. in the net, it's got to be better for more folks. right now the jury is still out. >> more people are feeling that this is not helping them and that they're paying more for this and whoever is getting insurance at a discounts is being morphed by those paying more. this thing is the titanic. >> it is. lien, we are talking about government vs. private, right? a report out that the wal-mart health caresome plan is cheaper than obamacare. you can meet almo anyone, it's simple. it was sold in the economic panacea. >> the government is usually good. >> here's what the problem is for this politically with the democrats and liberalism in general. the government is usually good
at giving people a check, free stuff. this is not that. the middle class is getting hosed here and that's the political dynamite that this is all. by the way, it may work in five years, adam. but the democratic party will be out of power for five years. >> what do you think? >> since i'm not a part of it. i don't care about that one way or the other t.mportant thing is that it works and, charles, you know capitalism, private insurance company play a huge role on obamacare. >> capitalism, by the way. >> if that regard. adam, what we had is not capitalism. >> it is not working. >> charles said this is all about the government. >> okay. we got five years to charlie's math that this has got to work out. >> wait a minute. five years, by that time, regardless what happens to demoats, does it take that long really, adam, do you think for this to level out and look like it's worth while? that's a very expensive role of
the dice right will? >> if after five years, you know,many, many more americans have health insurance than it will have been worth all t trouble, yes, neil. >> even though many, many more americans will be paying substantially more for the cover agitative got. >> maybe. >> adam, you n't screw the middle clas >> you are asking americans to pay more for less. we have yet to feel the impacts of health care. >> unfortunately, there is a -- >> you will not get more. >> unfortunately for the democrats is honesty with obamacare. thbasic premise on screwing the middle class to pay for the uninsured. that's what its premised on. >> that is the problem politically for the democrats. >> some people are not going to -- >> they're running on the platform almost across the board. this time it's all about fairness, it's time for the people to get their share share. >> they can read their statement. >> people aren't signing up for it t. white house admitted they
are not signing up in the numbers they need them to. >> you are dragging it down for the rest. >> in its early ays. >> five years tohere you kick i. >> sure. >> all right. another irs bet. the agency in charge of collect, your dollars asking for more of your dollars mainly to help enforce this health care law. we will be debating that at the top of the hour. up next, 50 years after this president spent money to pay for poverty, this president isn't ready to stop. hoñ@ç@çpçpçpç÷ñoxmhmhyhyhyhy
one. of course, i'll see y at 1:00 p.m. eastern. back to caputo. >> look at that. redouble or double trouble? president obama marking the 50th anniversary of the war on poverty here. i quote, we must redouble our efforts to make sure our economy works for every working american, it means helping our businesses create new jobs with stronger wages and benefits, expanding accs to education and health care, going on to say, and bleeding the american people dry. anyway, charles payne, he gets it right. >> you know what, that statement could have been a lot shorter. you should have said we should redouble our efforts to make sure the economy works. the notion that we have only spent $20 trillion on this thing, how about 40 trillion? because that should do it? how about not reexamineing the
program. by the way, poverty for 18 and under is up significantly. for 18 to 65, from 18 to 64, it's up 13, 37%. these numbers are mind-boggling. if you look at things they are proping, they look like the axe that were passed back then. >> that's i think what worried about me if president, even if you arc you we had a nominal improvement in the poverty rate, when you look at 18 and under, it's still good. we spent trillions, trillions, so you got to redo something. >> the rate is essentially the same. it's about 15, 18%. >> how do you prove it? >> i don't know, i will say this peak poverty 50 years ago was a lot more harsh than now? how do i know this? i'm notsaying this because i'm an elitist. my mother grew up in a housing project. thank god i didn't. my dod worked two jobs. i'm telling you, people in
housing projects do have color tvs. >> the point though, is it that people are too comfortable in poverty? and they'll never escape it? >> thank you for making part of my point. yes, that's a part of the problem here. the other point is this, there are root causes. listen the new york times spent a lot ofnk on this poor girl who they followed her through the homeless system, she's in this horrible homeless shelter. her parents are bad parents. the mother is an addict. i think she's on methadone. she's had three marriages, kids all over the place. the father isn't there. that's a part of the equation. it a huge part of the equation here. money just doesn't addressthat. >> you can even argue we had the money back then. we don't have the money right now. you rlly got to look at, all right, you want to address something bad going on, throwing good money after bad isn't the answer, when you question how much is going, you will come off mean spirited. >> you come off as satan,
frankly. you see the money being spent. yosee the abuses in the system as it stands n, just look at stability. this is a new permanent entitlement in this country. spending doubling on disability in the last decade, what you got almost 3489 disability claims, just last year. this huge bust in new york city of abuses among policemen and firemen, just in this past year. this thing is going to go bust in about three years from now. two years from now it's not getting fixed. >> you are exactly right. the thing i know, the bicker these numbers get, the 10% rule about fraud, waste, money disappearing with any contractor. the contractors that work at my house, mind you. any rule of thum says it ll disappear the numbers will get gargantuan, we never address it because it looks like we are being callous. >> i will start by saying should we clean upping improve the entitlements?
of course, aolutely, we should but i would say not -- >> they can't get a penney for them. >> no, i object, not before we raise another. you ask can we afford this? >> you know we don't do both. we never have. >> and we should. we get to make the rules. >> i don't. i'm saying we don't do. but it would be the wrong reaction because we don't do that to say we should stop with eshould not envision a society where we help people who are in need, charlie made the point, there has been great successes from these programs. >> maybe we say we stop. we redo it. >> i'm the reagan optimist. once again, we are still a powerful economy. wetill can afford these things. >> i wish we had more time to expound on this. we don't. the meantime, shaking off the pounds like shaking off the money, maybe. shaking off the government, fat chance. we got the skinny on all of this after this. . [ male announcer ] when you wear dentures you may not know
>> the green headband i am marketing. the federal tried commission fining sensa and three other companies for false weight loss advertising. they said you can't pour stuff on your food and look like twiggy. it doesn't work that way. they got $34 million worth of fine. did the government have to do this? >> i got a feeling, especially after the jobs report, they got a few more things that might be a little bit more important. here's my theory on this whole thing. >> i could shake some stuff on the jobs report to make it took better. >> here's my theory. i think they saw the commercial and they said how dare they take our idea magic pixy dust as a magic elixir. go after those guys, boys. >> you do want to crack down on crack pots and people foisting
stuff that's not true. what do you think? >> i think it's fine the government regulate false and misleading advertising. that helps the capital system to make sure people aren't taken advantage of. >> you trust the advertisements of those companies that are legitimate and have legitimate products this is one role the government i have no problem with. you cannot go on the public air waves and lie to the american people about your public. >> you would have more clout if you were 300 pounds. >> i'm starving right now a irritated. >> i want to dance like that. i want to hang out with those won. >> okay. kill the company but keep the commercials runng. >> listen. it sounds too good to be true. >> let's watch them and not charlie. >> i never seen bikinis on the
beach holding food and eating. >> yeah they do. you go to the wrong beaches. listen, there's a degree of personal responsibility here. does anybody really in their right mind believe that if you sprinkle this crap on your food -- >> you got to work out. >> i was out there today. >> you and me both, buddy. a few minutes free i'm on the treadmill. >> gloria. gloria looked pretty good. >> she said i was her best student. didn't sweat a drop. all right. i want to thank charlie, i want to thank megan. up next, stocks, it's 2013. charles top pick even greater. if you were listening back in february of last year, green mountain coffee made you a lot of green. 70%. but i bet you weren't stening back in february. were you? now thbig guy has three new picksready to really g
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>> am, quick thoughts? >> i'm no charles payne but these are expensive. i prefer the les expensive one, charles. >> maybe ty are expensive for a no? >>aybe. >> little chuckle. i like that. we'll continue. a new irs mess. now the mess over how the person leading the investigation, the irs targeting conservatives actually donated thousands of dollars to the obama campaign. the agency's new chief is asking for more of your dollars. why? well to enforce the health care law, of course and the tax man already getting $1.3 billion bucks in extra funding for obamacare. apparently that's not enough. so does the irs dserve more of your money or not? hi, everybody, happy weekend.