tv Forbes on FOX FOX News January 28, 2012 11:00am-11:30am EST
i want one that will pay a dividend. it does not pay a dividend. >> what are you feeling about the market. >> much higher by year end. >> david and forbes on fox is next. ♪ >> president obama slamming bank and oil company profits again and doing it the same week that he praises microsoft founder bill gates and honors the widow of apple widow steve yobs and pays a visit to an intelegiant. they are making progress with those who are better. so what is fair about declaring some good and others bad? i am david asbin and go in foc us with the man himself steve forbes . rick unger and bill baldwin and vict toria barrett and
rich, first to you. there doesn't seem to be fairness here. one case profits are good and another case they are bad? >> this will show you how far obama sunk when he promised to be the great uniter. he can't make a speech without the boggy man. and private aircraft and i assume he does that, too. >> he subsidized foalos like solyndra. it makes no sense and dividing the country and economically ruinous . causes ceo's of inteleto show obama around his plant. it is really, really taking one or two points off of america's gdp and tragic. >> rick, why is it that some profit good and some are bad? >> you know, rich and i must have listen to different speeches. i never heard the president
vilify profits. >> he does it all of the time. >> we'll put up a headline from the washington post. president slams oil company profits as prices rise. >> because the washington post put the headline up. it makes it accurate? what the president did do in his speech was talk about getting rid of the subidies that we all agree that the oil companies don't need anymore. there is a big difference between vilifying business practices that lead to oil spills and take away the livelihood of americans and vilifying the profits. there is a big difference when bankers get involved in casino gambling that bring our economy to the brink of disaster and vilify the profits earn. it is unfortunate that you can't see the distinction between vilifying dangerous
business practices and what -- >> steve, the point is, silicon valley folks are getting subsidies. solyndra subsidies went down the drain. the point is, it is okay for one group to make profits and not another. >> that's right. you talk about apple with 700,000 worker in china and versus and the demagogue president could go after that. president obama left out when steve yobs said you will be one-term president if you continue this anti-business kind of tiready and he told the president why is it easier to get in china to put a plant. do something about it. the president did nothing. a lot of democrats want a win fall profits tax. why not on apple? or intele? >> you know, bark obama is on
to something good here. surtax on crony capitalism and banks would pay extra because they got a bail out. and the windmill and ethanoyl would have to pay extra. that leveling of the playing field can make since. and maybe the next time a mortgage company hires a cleasey excongresswoman to get credit they should pay a surtax. >> no one should get hand outs. the whole thing is nonsense. exxon mobile had a tax rate and higher than most did in the united states. they don't get more favors than other manufacturing companies. when you go to washington and pick winners and losers. i remember japan was the model
we should follow in the late 'cents and '80s because they picked winners and losers. guess what? they have had two decades of stagnation. government picking winners and loserings, you will eat the insects off of the ground like they do in north korea. >> since china is subsidiizing the solar industry we should do the same. >> that argument makes my head spin. broadissue of good profits versus bad profits. you mentioned apple and steve mentioned the fanthries in chin a. they have deplorable conditions. you have workers standing for you know, 14 hours a day so that their feet spell to the size of elephants and they sleep in overcrowded dorms. those cities are hurting. we have lovely ipads. but they are cleaning it with
poisonous chemicals before they come to us. are you saying they are obscene, victoria? >> i am not saying obscene. they have issues to deal with. but where do you draw the line between and bad profits. goldman sachings profits look better than that. >> where do you draw the line. >> as long as you are oboying the president obama is creating conditions that new apples will not be able to rise up. it includes fanny making money and a perversion of the free market. perverts should pay a fee. >> how about google. >> rick go ahead. >> let's obey the law even if they take united states over
the cliff. but steve said that he questioned why obama is not giving steve jobs a problem for taking those jobs over sees. read the book. the president gave steve jobs a hard time taking those jobs over seas and called him out in a speech. he doesn't discuss it in the state of the union. i don't understand the comment. >> the fact of the matter is he praises steve jobs and he brings his widow in there to leach off that politicalally. steve jobs was appalled by the policies and the fact of the matter today, it would be hard for a new apple to rise up because of the taxation regulation that he want to put in. we need a reagan and not a obama . how much tax does google pay. why do you think that that is
true. because google is friendly with the administration. how about general electric? i mean look at crony capitalism that is appalling and driven by this president. look at the gas taxs and we pay out more money for our il that they get in profits. >> we have a president who want to fund fannie mae and fred mack . at the same time blocks prived invest key stone pipe line. and that is private capitol at risk that he blocks. this is a president that sits in washington and decides what company and what industry should prosper. this is the slowest economic
recovery. >> i am inspired by people who persevere. you know who survive and find a way to survive. >> and there is no one who perseveres like neil cavuto. he will be covering the florida primary. and special guests include herman cain and line market reaction. we know that catherine herks eigel will be watching. you should, too. 7:00 eastern time. >> coming up. what they call around the clock without extra way. carbin in. and first president obama cracking down on colleges saying lower your tuition or i will cut your aide. and slashing all government cade right now.
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headquarters. i am jamie colby. we are three days before the florida primary and the gop candidates are hitting the campaign trail mitt romney and newt gingrich are pulling out all of the stops. and rick santorum moving on to northern virginia and ron paul in maine. he is speaking in a university town hall event. mitt romney holds the lead in florida with 38.7 percent and newt gingrich with 31.5. and santorum and paul is right behind. in syria. new reports was a bloody government crack down as the arab league suspends the commission. it was working on a peace plan to stop the blood shed that killed 5400 people. i am jamie, see you at 1:00 p.m. eastern and now back to forbes on fox .
president obama delivering a stern warning. cut your tuition or face cuts. if steve forbes said that government funding is driving tuition up. steve explain. >> inflation goes up 100 percent and medical costs 220 percent . college tuition. and government subsidizes something it becomes more expense itch. administrative costs have gone up in the colleges and universitis and that's when one dollar pel grant goes n tuition goes up colleges pocket mon yemore. if you want to cut the costs. cut the subsidies and the students will get a affordable education . four years and why not three years and take time to get out in the work force. >> morgan. more taxpayer money goes in college and more they hike
tuition. >> it is state government or federal government in this particular case. i have to disagree on this point. we have seen tuition double in the past decade and we have watched states pull back on the funding especially for state schools. they have cut the fund 3.5 billion cut from 2009 to 2010 and in response state schools raise tuition prices. i don't think we should pull government out. i think government has helped to keep it down. >> dennis, you have a few years before your daughter is in college. 60,000 a year. we have to do something about this. >> here's the thing. couple of figures for you. federal dollars flood in market inflation. federal aid is up 55 percent in 10 years. is it any wonder that public state tuition is up? and federal aid 75 percent of all aid . you know, that private grants
to people have gone down to four percent of the total? that is the biggest problem is that federal grants are half of the 140 billion a year that they are spending on college loans and grants that will not be paid back. >> rick unger, if we lower taxpayer contributions to universities will it go lower oir higher as steve suggests? >> i have to congratulate steve for getting behind president obama's proposal in the state of the union proposal and happy to hear him do that. you have to look at where it goes. number one pel grants and research. and if you want to know where the money is wasted and i think money is wasted. take a walk around the university of california in los angeles. beautiful campus and a new
building going up every day. the money is not spend on educating our students. the money is spent on the self grandoisement. >> i think you are on to something. but what about the pel grants. >> that is not correct. i testified before congress about i.r.s. reform and in that debate was this fact. because they have tax exempt at that timus they save money and instead of reducing tuition they spend it on bling that costs to service. they have to hire more people to take care of that. and it goes to pay role and doesn't reduce college tuition. every percentage increase that rises, you have to pay more taxes in the government. we are abusing american families. >> should the government get
out of the funding universities and college and universities? >> no. no, i think it is fundmental and what it should get out of is paying college football coaches four million a year. we have a skill's game and high unemployment. we need to make an investment in skilled trades if we want unemployment down. rick said you agreed with the president. >> he had it back wards. in this day and age. there is no reason we have more on line learning. that is well intended government to fund college education.
it breeds dependency on government. 56 percent of the college students rely on that . they are the next democratic voters to elect obama style. >> that's got to be the last word. jc penny ditching deep discounts and drumming up more profits. it is a buy signal for our economy. that's next. [ female announcer ] this is not a prescription.
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will scream for joy over big sales. it is going to lower the prices something that the ceo said was overdue. >> how? >> like pricing. today what the retailers do and we are guilty of this as well we mark it up too high and create the sales. one hour sales and coupons and rebates and the customers knows the right price for every product. we'll price it right. victoria said making the price right will make the economy right, how so. >> oh, yeah, i think ron johnson is on to something here. we are fatigued by discounts. you feel like a chump if you pay retail. and you assume the retailers is bumping up the original price to knock it down . it is not a sale price at that point. it is the price you pay to begin with.
it is it a sign that the economy is turning and the consumers are willing to stop with the shen nagins. >> he created the apple stores. will this motel succeed . >> it will be better used rebranding fannie mae . get normal pricing strategy. it is a matter of the trust. will we trust the ceo and can that work in a store. people go in retail therapy and looking for discounts and savings. ci think people know the jewelry is jacked up. will we trust the ceo on the. >> that is a good question. do you think that people will trust the new strategy.
>> victoria is not the only shopper that is vafeaged with all of the monkey sales and dam affinity cards. there was a poster said no card games. i am going to take all of my grocery business to hanovers. >> i think ron johnson disciples of steve jobs can turn jc penny water in apple red wine. it is not going to work. upon pg&e tried and had to abandon it. worse than that. he want to make jc penny saks and amazon.comdiscount world. he wants clarity. he knows that the shoppers are looking for that. do you think he's on to that. >> shoppers are looking for bargains.
remember saturn. they didn't have bargain we saw what happened to that. why did you go to the restaurant and look for the special. something to excite you and some point you have to sell a bargain. it is not an apple store coming up a. apple shares hitting a new high after blowing up profits. and so want to pick the next apple. our informers have the stocks not falling far from the tree. online dating services can get kind of expensive. so to save-money, i found a new way to get my profile out there. check me out. everybody says i've got a friendly disposition and they love my spinach dip. 5 foot ten. still doing a little exploring... on it. my sign is sagittarius, i'm into spanish cheese, my hairline is receding but i'm getting a weave. (falsetto chorus) getting a weave.