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tv   Cavuto  FOX Business  December 31, 2012 11:00pm-12:00am EST

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abandon our principles. ronald reagan got 35% of t latino build. in 1986, he signed the amnesty bill. you would think that his or support would skyrocket. but we were wrong. the idea that we should abandon our principles, in order to go after those votes, simply historically does not work. >> the idea that we should do the opposite is just,it is rational. lou: we are going to haveto leave it here or in we thank all three of you. lou: now for your comments, at the fiscal cut is only way to get spending cut out of this government, geronimo. and carol says sandra of time mt from new york
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adam: breaking news once again from the fox business network. the senate to vote within 90 minutes of the deal averting the fiscal cliff figuratively. we will go off the cliff of the nation because taxes will go up on january 1, spending cuts will essentially be ready to go into place january 1 but just the senate passed the deal and sent to the house and they passed it, this can be averted. my colleague rich edson live on capitol hill to explain why although there could be a vote tonight, this is far from a done deal. rich: absolutely. vice president joe biden who has been trying to influence senate democrats, many of them skeptical to support this deal he is negotiate with senate minority leader mitch mcconnell. they want this to be much lower rate is placed on the deal for individuals, $430,000 for married couples.
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what we're hearing now is the drafting is ongoing, national budget office is taking a look k at this to see exactly how much it is going to cost but as it is known with the impact of the deficit going to be, senator joe lieberman said a short while ago they will try to vote on this thing at some point this evening as we get closer, adam, less than an hour to go in the year 2012 there is no way this clears the senate and the house before the end of the new year. if the senate passes this tonight or sometime in the early morning hours the house will hol begin considering it tomorrow. there's no real outlook so far as to whether or not this is actually going to pass the house, too early to tell. they are basically saying the senate goes first and then the house. adam: have the senator from ohio saying he will vote for this. we have the senator from iowa, tom harkin, very liberal saying
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he will vote against it. we have to believe leadership in the senate believes it will pass in the senate tonight. the question then becomes both democrats and the house and republicans in the house, right? >> that is right. this will be an appeal from both leaders in both parties on the house side, senate minority leader nancy pelosi signaled she has basically signed on to this and we wouldn't be having all of this issue wasn't on board with this. she has to bring democrats on board because republicans in a building constructed themselves, house speaker john boehner called it plan b. maintaining rates. back on itself could not pass with only republican support. this is very much an effort on the senate and democrats and republicans and a strong vote in the senate of confidence with republicans and democrats standing up to vote for this thing improves the chances in the house. lou: we have not heard from speaker john boehner's office or eric cantor officially, but
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fox news has learned a representative from the house, republican has told one of our people on the hill he does not think there are enough votes in the house to pass this, and leadership, republican leadership, mitch mcconnell, even john boehner even though he is not a part of this deal are playing with fire. has there been any official word from anybody other than nancy pelosi? >> we got no official word on this. a number of house republicans who are upset with the way things have been going so we are not quite sure who's a republican member was who said that, but you have got to kind of look at leadership here or there. they will not bring a bill to the floor if they do no did not believe they have the votes to do this thing. adam: just for brevity, we want to show you the shot from times square. square. million people celebrating the
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new year. everyone of these people can expect a tax increase because without both chambers passing any kind of legislation, you make $50,000 per year as of 12:01 january 1 you will pay $1200 more in taxes. $150,000 income will pay 5600 in taxes. if you're married to, say numbers, 50,000 income, you'll pay $2000 more in income taxes. you're going to pay $6600 in taxes. rich, do people on the hill have any kind of sense, i understand they believe the concert of the tax increases hitting average americans giving us less money in our pockets to spend, but do they understand the anger and sustain people outside of washington have for the way they have dealt with this issue? rich: i think that is the perception they've got to deal with here.
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the knee-jerk reaction from both parties is it is the other party's fault the reason it is here with less than an hour to go before the new year and we are still rushing this through to get it done. they are aware of that, but this is what you have with a very divided government with two different philosophies on how to run the country, basically running the country. adam: i don't think they expecto hear from the president here tonight, nothing for them to say, is there a? >> is taking place in the senate right now, the president spoke earlier today. it had a very campaign like feel. at this point much of the conversations going on from the white house are more of a private nature trying to get the support to get this through now that everybody has signed off on this deal on the leadership
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level this is all about making sure you twist enough arms to get through both houses of congress and the president desk. adam: we have pretty much laid the scene out for our viewers, we will have a vote sometime between now and 1:00 a.m. in the senate. the soonest the house could vote on this any idea? rich: they will vote sometime tomorrow, likely in the afternoon because you're not really giving folks who have to get enough votes to pass this thing, give them time to explain what is in this deal, everyone's concerns are addressed, questions answered in a little bit of debate on the house floor, something that can very easily slip into the evening tomorrow but we ar are far off m a vote. adam: i am watching the live scene, surprising me is that eitheneither mitch mcconnell nor harry reid have gone to the podium to address reporters.
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i believe the vice president talking to reporters but they wouldn't have had some sort of public statement. is that a sign of trouble or something we should not read into? rich: they're starting for a formal statement just to make sure that what they have got here is something they can believe will pass the senate and can pass the house and congress and get its way to the white house. it is caution right now while there are leadership giving the okay on this deal, still have to make sure you have the votes. that is often what so many people forget about these negotiations. we hear from the president and the speaker, the two leaders ultimately became the vice president and a ignore the leader of the senate, you'v youe got to get the vote. he never specifically know how your caucus is going to react to what you are offering.
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adam: is there an option to stall this to tie it up? rich: usually at 11:30 p.m. on new year's eve, your colleagues will not want to talk to you all that much if you are holding this up for the next three days but still that is a possibility. adam: thank you very much. one more live shot of times square. we will be here throughout this evening for you. at midnight we will come back a little bit before the famous ball drop and we will bring that to you live. metaphorically we go off the cliff. does not mean we get the negative impact but until it is passed, all bets are off. we're here for you at the fox business network, and we will be with you until midnight.
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i look up to a lot of the older heads, you know, the innovators, the heads of the art movements of the past. they kept it really edgy, and, like, a lot of the latin american muralists and the latin american artists, their styles are very unique and new to their time, you know, somewhat controversial, but that's who i look up to mainly. personally, i'm very excited about going to college.
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it's something new, and it's something different than what i'm used to. i'm definitely going to be a little out of my element, but that's what makes it so exciting is that, you know, it's something fresh. well, there's so many opportunities that i think i could miss out on if i didn't go, you know. getting into college takes planning and vision. you know, it's just like when i take a brick wall and turn it into a canvas for my art. painting's helped me realize i've got what it takes.
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neil: the economy is stumbling. nothing seems to be happening, but ralph nader has got a plan. one day he says he will get mpanies hiring and fast. getting people spending soon. >> nonfinancial companies are sitting on over a trillion llars of shareholders cash. the investors cash. a lot of them are not giving adequate evidence. some of them like google and emc giving no dividends. if they can be pressured by pension funds to unload a cup and billion dollars into the economy, people would spend it. they don't like the tax penalty
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for it. would you give them a tax holiday? you have to put it to use and do something? >> they tried that n 2004 and th brought back hundreds of villains. they put the murders and bonuses and what we have to do is recognize the president obama is not an economic dictator. the federal reserve can bring interest industry rates much lower. so we ha to go to these two other areas are overwlming support of inflation adjusted minimum wage. >> i'm not alone in an environment like this, how are you going to compel businesses, fast food joints and the rest, but it's in there interestto raise the rates when they are barely getting by as it is just as henry ford did back before world war i to $5.
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he said he wanted people to buy the cards. that's what you got to do. neil: so what about substance of the country where they have jobs with $10 an hour. were people really aren't jumping on these jobs. where we have a country where help wanted advertising is at an all-time ig. a lot of people, for whatever reason, it are having trouble with work. >> we are talking between seven and a quarter and 10. he would get a long-overdue pay raise just to in just to inflation. if you have rick santorum and mitt romney saying the minimum wage should be ingested, that would put pressure on them >> let me ask you this. do you think the people are as tired of the notion of governmentould do something?
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we have seen a little bang for the buck. a lot of people are going the other way. they are careful to go that way because they remember republicans. but is there a limit to what the government can do? would you say that cars being made safely, and they say, you know, government can' make an economy as a whole. >> they don't have much power. we have to demand more from big business. neil: wil the govenment demand that? >> business can hardly keep up with the corporate climb. barclays, jpmorgan chase, now, wasko, 3 billion-dollar fine. we have to save these corporations.
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they were built on the backs of american workers. build buildout by american taxpayers. recording record profits. sitting on trillions of dollars, keeping them away from their owners and the investors a the workers. neil: are you saying that there was crime involved? there was no crime involved. are you saying that all of these guys are typical? in other words with that there are more bad guys and good guys? >> the big guys have too much power and are too big to fail and all that. >> leches take the fortune 500. would you say, you mentioned three prominent companies. would you say that is 3%? 5%? 50%? i just disagree with that. >> if you look at the reports, my book that you've mentioned, those are reports from "the wall street journal." the ap, "washington post", 60 minutes. we live in a corporate world.
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there are not enough on the corporate crime beat. neil: economic gloom and doom is actually helping this gentleman alive. to are you kidding me? >> i am not kidding you. i just need $150 and not that. [ roasting firewood ]
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>> i'm not going anywhere. >> go right out the front door. how about that? >> how about that?
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>> listen here, listen -- i don't give a darn, you can have it. >> here is your ball. neil: here is something that israel is the economy. it's a very bad, that business that pawnshops -- well, he says everyone is coming in lately and even rich folks. that's what our next guest says. >> she left calmly, because she had no option. when we can't take your pond item, we can help you. it started with her in it resonated on to me. we don't want to be disrespectful. when you disrespect us, we act accordingly. neil: you act a little scare away. what is going on here?
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you know, we are hearing so much about wedding rings and engagement rings and everything. we have seen an uptick in people that make a lot of money what average folks are telling you, showing u, palming onto you, tell us about the economy. >> we have merchandise which is up online, with the other one is for redeeming merhandise. the economy is good. our sales floor is busier.
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our palm lines are longer and we are taking in a lot more merchandise. right now it's getting a little bit better. people are working desperately to get to work.
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people just need to go out and every morning when you wake up coming have to ask yourself, how bad do you want to? go get a job, it doesn't matter if you clean the streets are mowed a lawn, or you are a doctor, there are opportunities out there. what i advise them is don't over extend yourself.
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neil: so my wife's 250,000-dollar ring, -- [talking over each other] [talking over each other] >> we've been doing this long enough, we understand. >> don't go anywhere else. thank you very much f coming. he is the guy. we will have the response to barack obama coming up next. ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa,
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and i wished it would just go away. [rock music playing] it was my adhd. and like many kids with adhd,
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i didn't outgrow it. one of the issues i had was not being able to focus. i would read and i would reread the same sentence. you'd read it over and over and over again. and then, five minutes later, i wouldn't know what i just read. it wasn't sticking with me. it wasn't sinking in. and that, to me, was really frustrating. as i got older, i was still having that issue. and that's when i knew i needed to talk to the doctor. announcer: if you were diagnosed with adhd as a kid, you might still have it. find out more. take a quiz at to help recognize the symptoms, like inattention, impulsivity, hyperactivity, then talk with your doctor. i take responsibility for my adhd. it's your adhd. own it.
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adam: to avert a fiscal cliff we have to go over tte fiscal cliff. the question is if the senate passes the deal and i that the house will pass the deal. we received a statement from the speaker of the house, john boehner. i want to read this for you word for word coming from leadership on the senate agreement. the house will honor its commitment to sue the senate agreement if it is passed. decisions about whether the house will seek to except a measure will be made when house members and the american people of babel to review the legislation. we have been talking about the legislation but with rich edson standing by live once again to explain to us what is at stake and what is to be considered. rich: good evening, adam.
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the number of different items in state tuition ongoing as to when exactly the senate will pass up. see how much this thing cost, say they have enough votes to get this through although joe biden says he is confident, feels pretty good this vote will end up his way. the deal he negotiate with mitch mcconnell and basically preserves current tax rates for info mounts $450,000 per year for families and less individuals including investment income as well. so the other provisions of unemployment benefits. a deal between democrats and white house should get a vote in the senate in the next few hours and then it is out of the house. adam just read a statement of how it will be received over there. adam: it sounds as if we have the deal leadership at least the senate is confident they will
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get passage. anybody about to pull a surprise to stop this thing? i know tom harkin will vote no. rich: a couple different things that could happen in the senate tonight. the easiest is unanimous consent. what the senate does is say we will pass this bill unless anybody objects and if anybody objects can be cannot pass it. but it becomes passing the senate and moves on to the house. adam: another vice president was instrumental. let's listen to what he told reporters. >> i feel very good about how this vote is going to go. having been a senate as long as i have, there are two things you should do. you shouldn't predict how the senate will vote before they will vote come he won't make a lot of money and he certainly shouldn't predict how the house is going to vote. i feel very, very good.
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i think we will get a very good about tonight, but happy new year and i will see you all maybe tomorrow. adam: rich, were you able to hear what the vice president said? i am not sure 310 million other americans are feeling as good as the vice president right now. rich: he speaks from decades of experience in the u.s. senate, and he is right to caution that while he may feel good and leadership essentially signed off on this thing, doesn't guarantee you're going to get what would eventually be 60 senators needed to get to the senate and the votes he needs to get this through the house. the house is still very early to tell him that he would have the senate passes this this evening to begithey begin equipping prod both leaders have basically signed off on this, democrats
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and republican would go out and make sure do we have the votes, what are your concerns about this, that process would begin likely tomorrow morning and then that would play out unexpectedly in the house as far as time is concerned like in the senate today. adam: you and i will be live just before midnight, but this vote we're waiting for when we go off the cliff, off the fiscal cliff, now that it may not take place between three, 4:00 a.m. why so long? >> they are writing the legislation and the process called whipping the legislation trying to bring enough votes along and getting the congressional budget office scored to see how much this thing cost the official scorekeeper. adam: i will give you the last word, rich. any indication from the office, chances of it not passing in the house?
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rich: no major indication, little too early to tell yet. adam: we will see you in roughly 25 minutes. we will take a break, and we're expected to get a vote from the senate. for fast, long lasting r, use doctor commended gaviscon®. only gaviscon® fms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. relieving the pain quickly. everything you can fit vo: in this bag is 20% off.x saving 20% on everything your company needs. it's a big deal. check your december 30th sunday paper or print the coupon at
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il: probably not a fox alert to tell you that huge celebrities like democrats, they actually help the president win if you think about it. but not every star was going gaga over the president. suzanne somers says that that is a risk for them as well. if you are conservative, you are not welcome in hollywood. >> is it really does liberal bastion? >> yes, it is a liberal bastion. >> they don't associate with moderate to conservative? >> it is all about that ideology. you know, when you make that much money, you don't care. because you have your money.
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neil: would they think about when jon lovitz came along. >> he's not invited either he's never going to be invited. neil: but he said enough of this. >> i thought that was interesting. not many people speak out like that. i have a little business, so i like to not offend anybody. so i don't tell anybodmy views either way. neil: i would say i'm a centrist that leans to the right. neil: you have to be moderate on her persona non grata. >> i sell my little life with my organic skincare. neil: that's a lot of money for your little skincare line. >> i didn't leave tv. i was escorted and booted out the door in and fired. i get tired a lot.
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>> how dare me to expect them to pay me wat they pay the men. but then it was good because thought i will never work for anybody else ain. so i work for myself, and i have all these years. >> all the beauty products and thgs, everything around her image, do you feel a lot of pressure without? to feel beautiful? >> i just wake up like this and it's so easy. neil: me too. [laughter] i saw you talk to will tell welsh. >> mthing is that she knows her image is everything. everything has to be right. >> her writing is very good anyway. i feel pretty confident. neil: you know, the writing at
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50 pounds, did you know that? [laughter] [talking over each other] [talking over each other] neil: will this be mitt romney's disadvantage to the media? >> it probably is, but it won't be to me. >> i think that he should have come out a long time ago and said this. but yway i'm glad he did. most of my friends are. neil: he's not going to pick up any additional electoral votes, maybe he did it for all the right reasons. >> it could've been perfect timing. neil: what do you mean? >> well, you know, -- neil: with some liberal friends hold off on giving him more
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money? >> i think that a contingency did. this is what they really want. if they are not thinking about the ramications on t economy and what's going to happen in this country goes socialist. neil: do you think that this country will go socialist? >> i do worry. i have my little business and i doworry. at a certain point when you're a small business like i am -- neil: you're not a small business. you are a warren buffett with long-haired if you reach a point where you get to 75%, which is being tossed around there, how can you keep your employees? at some point when you're not making any profit. neil: a lot of what you say, it
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is 35% rig now, that's what you're saying, you bring in up to 39.6% under clinton. i might be able to live without. i might not. is their level of crunching the numbers? you are pretty good at math? >> i am married to a anadian and i can always run to canada. [laughter] he has dual citizenship. neil: may be billionaires are not focusing on jobs because they are focusing on their love lives or their lack of one. how the grinch are striking out these days. it could be a real beach for jobs.
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neil: if you are rich, the president is itching to go after yo my next guest says that is bad, but this could be worse. millionaires and billionaires are having a taxing good time finding love. but 1-800-flowers, jim mccann says that he has the fix for that. i am finding that the peak is in. they are all telling me about what things are all about, the number one or number two show in the country is the big bang theory, so we are all celebrating the geek. neil: this idea that if you have this business, very god common sense, i think they are looking for answers in all the wrong places. how do you invite them?
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>> i will tell you as a florist, it is good business being in an ability to help people and relationships. i have been a social worker, i have been a florist, and both have a common theme. i wrotea book about my discoveries about the thing that makes us unique on this planet, which is a core of the story. the matter what, everythi we do, whether it's the places we work with a service organizations that we might want to come in the sporng activities, we are all seeking out social intimacy. and if you are a hard-working and hardcharging geek of some success or not, you may not have the opportunity to meet someone, yet we are searching for that every day. neil: you have a lot of guys that send flowers from secret admirers and all that. >> we are very happy to hear that. neil: you were telling me during the break that the nber of
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guys who send flowers out is not a reflection a date or anniversary is because the they e sorry or they did something stupid. >> there's not a days that goes by that i don't have a young guy come up to me and say you saved my butt so many times because i've always screwed up. either we make less mistakes, but it's a high percentage for young men. not so much for the older guys. they be we have smartened up. neil: you should have an apology bouquet. we have a dog house uk. do people use flowers to make a statement?
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>> during the last few years, the top recessionary times, we saw a number of transactions with the average ticket was down. and our food businesses held up even better. a box of chocolates might be a little bit less ephemeral than a bouquet of flowers. birthdays are still going to come around. all of those celebratory occasions are goto c we had a nice little service that will help others. neil: who better than he guy who plays cliff on how jobs are falling off a cliff. john mica murder on layouts that are way out of the norm. and while he says his fix is better than washington's. better than washington's. bar none. the capital one cash rewards card gives you 1% cash back on all purchases,
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what's in your wallet? ♪ music
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kids will spend 15 minutes watching online videos like this one. brushing for two minutes now, can save your child from severe tooth pain later. two minutes twice a day. they have the time. neil: clip is going postal. a famous actor who played clip on the hit tv show cheers, with millions of workers struggling to find work, he is working to get tors back to work.
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neil: it was almost ingrained in us to move away from that. it really killed us, do not. >> yes, it dd. i started talking about the subject about 10 year ago when the water was at her ankles and now it's up to her chin. because the average age of someone who is skilled and can make things, whether it's in a fax factory or a plumber or welder is about 57 years old. very soon, they will all be retired and we have no one coming up after them. everyone is talking about what kind of capricorn where. but we are heading for a crisis. while business, whatever the businesses, stems from two things. mining, manufacturing and farming. everything springs from now. you have to have people showing up to have the skills. and we have never taught her kids the skills the last 30
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years. they would sooner turn those guys away and search for cheaper labor. the reality is decades. you are not going to call a plumber frochina to unclog your toilet or a welder. neil: so now you are saying that we have to encourage this. so we put almost a scarlet letter to a? >> it is hollywood's fixation they came out of the charlie chaplin view of factory workers. it's not like that anymore. you have to have computer skills. people who give advice to high school kids should say, start
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educating kids like we used to. neil: even if they found their jobs that don't pay what they ed to, in this environment, it will pay you anything you are going to get and you will be grateful for it. >> the government has to understand. [talking over each other] [talking over each other] neil: what about barack obama? >> the governmt needs to get out of the way.
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manufacturing is toamerica what spinach is to popeye. the strength of america is manufactured. neil: you don't think we can have a great country based on service? >> again, you go back to our terminals and electricity has to come through there. where you get do you get that from? a hydroelectric dam words power that is coal-fired. and now now they have all of these restrictions on coal mining and also the hydroelectric and i have talked to the people and they said that they can't find workers that work
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adam: another fox business update on the pending vote in the senate to avert the big tax hikes and spending cuts that are about to hit. every taxpayer in the united states. a live picture of times square. 1 million people getting ready to welcome in the new year. a new year in which we as a country go off the fiscal cliff. they're all about to celebrate. the tax increases are big even if it taxes the senate is still has to pass the house of representatives. this is far from a done deal. rich edson on capitol hill as we await the ball drop and the fiscal cliff to hit. rich: we have just gotten a back of the envelope, unofficial congressional budget office.


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