tv Cavuto FOX Business July 9, 2013 8:00pm-9:01pm EDT
neil: stop the nonsense. stop the health care law before it kills somebody. these are the folks in charge of health care a and so many blunders with so many times now just taxing all the time because the irs could not score much worse. the thousands of social security is on the web site apparently the numbers were included is the ira's database one of those learned of the reach while working on another irs
matter out of an abundance of caution they were racing this. in the service say that are put in charge of the health care law. supposedly unintentionally going after conservative groups. remember that? then it turned out to be hundreds a and then hundreds of individuals. an agency investigation that still is not happening in the fbi director doesn't know the name of the person in charge wises is the irs on the job and they're the ones who will oversee your health. it is enough to make musec.
in to rudy giuliani who was not happy they keep running over health care? >>. [laughter] this is what we get when we elect a president who was prepared to be president in the first place. did not have the experience it is not done a good job to learn on the job. neil: but can we rethink to give the irs so much power when clearly it cannot handle the power or responsibility it has no or abuse is it? >> it has been a disaster to hire 50,000 additional irs agents to collect the tax which is now the fine and the rhe irs obviously has a tough time to do its own job fairly and impartially. to give them additional responsibilities in an area that is so confusing and difficult and dangerous is an absolute disaster.
neil: now there is a big dustup. neil: they will argue you cannot delay this in to lock republicans in a box he said we cannot delay this but now you want to delay the irs money? >> how do delay the corporate finance but not individuals? in some ways that to be more difficult but corporations have a lot of accountants to analyze thank ready. individuals don't have any of those involve a sudden they have to deal with the fine and a health care program. neel: if the irs will take this over there not instilling confidence.
they say it is too late. see that iceberg? >> not too late to put the corporate sanctions were the individual sanction off for a year. five years? the be put off for good. neil: is that the administration's fear if @%ey could legally do what they're doing then they don't present the whole lot? >> it is beyond legally the supreme court from my point of view found it barely legal but it is unworkable. it is a mess. neil: will happen? >> i am an optimist and i think there will be a republican president to do away with this in 2016. we can reform welfare under ronald reagan and noone beat -- newt gingrich.
neil: we will still be under the health care law. >> we end up with new york city 1.1 million and then there were five under 50,000 we cut in half to have a more common sense way to do things. we did not just qualify for welfare we would check them out in the fingerprinted so they could not collected three times. neil: this mayor's race with eliot spitzer what do you make of this? >> please then to begin even before this telling people couldn't get any worse? then all of a sudden we wake up to eliot spitzer. i don't know where he is doing. neil: do you think i am back
in? >> i am not tempted although i am very worried about the city. he could do the job a and he is actually qualified to do the job he was an investment banker and a deputy mayor, a budget director. neil: he is a great guy. >> and very nice and decent. neil: could we have mayor weeder? >>. [laughter] >> i will plan eliot aside for a minute. ian denny is not prepared to be mayor forget the crazy stuff. he was not an effective congressman. charlie rangel was being interviewed and he said i don't remember him.
he never passed anything. if you talk to democrats about weiner. neil: they did not want him to run. >> because he was not a good congressman. neil: eliot spitzer will be the next mayor. >> his time as governor was a disaster. neil: always a disaster. always a pleasure. play with that idea home. >> before go before homeland security on how we will deal with the new home grown terrorist. neil: we have a lot to do with. good to see you but now with a rich edson with a congressional hearing on the very subject. >> good evening. more than $300 million lost in 2 million jobs badly in
need of the upgrade one says the bulk of cyberattacks are schemes it successfully because businesses are not investing in the right defense. >> sometimes they spend money on the wrong stuff and sometimes they don't want to know it can affect their stock price so there is a whole set of incentives varying from sector to sector. >> u.s. government gets another chance to raise this with their chinese counterparts but in a letter to the administration the top democrats and republicans are urging officials to press the chinese government to say we hindustan much of the activity is carried out with the support of a chinese government. of theft of proprietary information to undermine the economic relationship is unacceptable and must stop.
although it is somewhat weakened given revelations of the surveillance program program, no one other point, analysts say when it comes to cyberdefense there is no nation more vulnerable than the united states other than china. neil: think you're. no to congresswoman michelle bachmann it is already out of control. did they just wasting there time today? >> because the nation in is at war we have been under attack china is under the lead attackers both on a national security level but also the economic espionage level i recently held a town hall with the fbi and businesses to let them know this is a very real and present danger not just
major companies but small companies in china decides it is cheaper to hack into american businesses to discover their research and development and innovation and formulas for a customer checklist it is unbelievable what the chinese are going into but verizon has 60 percent of all internet traffic across the globe for rise ended a steady in the pentagon found that over 90 percent of packaging is done by china it is a real and serious problem. neil: so why don't we do it back? we are very good we will get into this but the fact is we cannot play fair because they don't play fair. is that the only alternative? >> we are not playing fair
but we have become a debtor nation we're too much in debt with a weaker position in we have lost leverage but@ not all of it. one thing that brings awareness it is very embarrassing for china to be seen as a thief. they are a global fief of intimate secrets and mrs. something we should be aware of. this is something that we do need to press back. when the edward snowden leak first came out it was just prior to the visit of the chinese president in the united states and the entire mission with him was to press the case internationally of the illegal activities that china is engaged in. that story was lost because the snowden story was elevated and it should not be lost. it needs to be retold because business people across the united
states, and many are not even aware of the boulder abilities of their company. they will lose billions annually. neil: they have no idea. good to see you again. michelle bachmann. now snowden has another shocker. not exposing the government but the companies that are in cahoots with the government. >> they don't need to overseas so they cannot be held liable. i think that is dangerousrade, r for anybody to have the capability. webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade li me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies."
>> companies like google, facebook, apple, microsoft they get together with nsa provide nsa direct access to the back end of all of the systems you use to communicate to store data, put things in the cloud, and even just to send birthday wishes. neil: ed is still leaking but this time not government whose secrets he is revealing but big internet companies. giving nsa backdoor access to data it wants, to florida
attorney general pam bundy of what she makes of this, is he right? >> first, first, no matter what we think of snowden, we have to give caution to anything he says. neil: you don't believe him? >> you know, internet companies are a denying this,. neil: they give access. but the debate is whether they gave backdoor access that is a venue you can keep getting back into. >> absolutely, the government needs that. this is a balance about living in a free society, protecting our people so we don't have another september 11, and also sacred rights of due process. freedom of information, but with snowden, we have to be cautious about he was flagrant and high was very outspoken in his
allegations. and not only that, you know he is seeking asylum in countries that are not friends of the united states. neil: let's say closest link -- country he might go. but that is where he will go. should we just cut off all ties with venezuela if that happened? they are already pretty dicey. >> venezuela is not our friend. obviously. huge issues as we should with venezuela. they are not a friend to america, we know that. yes, i believe that if they give him asylum, yeah we have to be very cautious, if he chooses to go there, that should be even more of a reason to de distrust him. neil: in the news your state, in the news with a possible tropical storm hurricane hitting your way, but political weather
with marco rubio getting heat for the immigration plan. what do you make of it? do you think that criticism is fair? >> you know what i'm reading right now is jeb's book on immigration,. neil: jeb bush. >> i that is downloaded on my ipad, i just want to study everything before -- >> do you think he is will run by the way? >> i wish he would,. neil: the argument is marco rubio will not run if jeb bush runs. >> i don't think -- barbara bush wants her son to run from her statements. neil: you cannot picture both of them running? >> i cannot what about you? neil: what about you? >> my governor is great, i ran for this officer, i was a career
prosecutor, i had never run for anything, i ran to make a give rent, i did not know if i could, but i do. neil: but you are popular he is not, what is the deal. >> we have a great governor, and a great cfo, and speaker of the house. neil: is it his style? he has done a lot but he gets a bum wrap. >> rick scott is doing what he was elected to do by the people, bringing jobs to our state. any time i call him say, i hear a rumor a company wants to move there, he will be on the phone with the ceo or his plane at his cost flying there to recruit the business. neil: he is a rich guy. >> it is a public service. i ran for offers for same reason. neil: are you a future governor? >> no, i am not, my offers deserves stability,y is much
more i want to do. neil: you are not ruling any of the above out. >> i do not' to be governor, i made that crystal clear 92 senator? >> not even thought about that. neil: president? >> no. >> dedicate or. >> never. i am happy being attorney general, thank you. neil: you are very popular, thank you very much. my best to the governor. in the meantime, crime number 9 wants back in. >> look at record. >> say -- this guy -- >> you lied. you cheated on your family. our ? who can build you a plan, not just a pie chart? who can help keep your investments on course, whatever lies ahead?
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neil: well who said that weiner should have all the fun? eliot spitzer wants back in too. guess who is trying to block him? all the folks -- used to chase, charlie gasparino with a great new book, "circle of friends" the circle of no so friends are back with a vengeance to stop spitzer in his tracks, charlie, why? >> why not, he is such a wonderful human being, he does make a cameo in my book. i contrast scandals now, inside trading scandals with stuff, about analysts lying about stock ratings, he veered off the rails long way, you know into it. if you are new york city controller, which is what he is running for. i wrote a column saying he was toying with running for mayor,
city controller, you are a heart bitbeat from mayor. neil: weird, you are on cbs? >> i did not realize high was there. neil: that must have been like a barroom scene. >> he read the book, he said it was good, and liked it reverended to him. but controllers office in new york city, is very powerful. >> were they allowed to tape you in the gripe roo green room lik? >> i guess so, it is their green room, i was not starting a fight, remember, this is a for if fight for them to be -- perfect spot for him to become mayor. you control pension fund, he will have a big say in corporate governance in u.s. >> which is why they are after him. >> i spoke with dick grasso, and he went after grosso. neil: he fought him. >> they won, i asked grasso, he is always, a gracious guy, he is
a class act, i was trying to bait him, he said, there are always second chances in politics, he is a smart guy. he was toying running for player too. if spits iran, he said -- he said, this guy wants to be mayor. he knows that jokers the democratic jokers they have. looking at them there are nice people, i like bill thompson bt this is not a stellar bunch. neil: you think? >> yeah. neil: and spitzer as controller >> they wil will be beholden toe unions, and the city is in for a rough 4 years, who is in the weeds? city controller, you say the there, he challenges the presumption win, which many think is either anthony weiner
or kristine quinn. this is brilliant, spitzer is a brilliant guy, he is running against a almost nobody. neil: he is getting touc tough interviews. >> it not a done deal he will win, spitzer was not popular in the democratic party. however he has a good name recognition, a ton of money, his old man is worth $500 -- a billion dollars. neil: how could he work with a mayor weiner, i can't say that mayor weiner, that is just me. >> there was a rumor he was advising rumor, i tweeted it out, and spits ircalled my spitt is not the case, or i called him,. neil: switching gears, how did you get all these people to talk to you in the book.
"circle of friends" i urge you to get it, it is about the charlotte tons they are a club. >> one thing that i bridge to bridge brings to table and fox business more than any other business the conflewence of politics and money, we understand it here, you go to other brand x, they think here is the stock to buy, buy this and that. neil: they are afraid of you. you are like mike wallace, an italian mike wallace, if they don't get back to you, you will still be writing about them. they have to get back to you. that is -- with this due reference to the big wigs. >> if is not over, the book is up to date, now, we'll see what happens, there may be a big fish they get. neil: you talking about steve cohen? >> the great white whale.
neil: do you think that is going to happen. >> i think something. neil: there is talk it is not. >> on one charge he will not be charged riley,. neil: other criminal charges. >> book points out they are looking at other avenues, they may bring nothing they have looked at him since 2006. neil: they are not letting him go. quickly, your argument they chase the wrong guys ? >> i think for whatever he dsteve cohen did or did not do it is nothing compared to and other guys, inside are traders that came down on this big operation, nothing compared to bernie madoff did, to catching boiler rooms and people that rip off average americans this is why i think spitzer did some good, he uncovered a scam that hurt average inves investors. he caught that and stopped it. neil: a far bigger sin. >> i give him credit for that.
neil: fair and balanced in your book, a great read, and a great error it is still unfolding as we speak, "circle of friends" this is the best business report or the planet. you see others, on talk shows they go blah blah, they are idiots? they are idiots! now we know. >> if only former head of barnes & noble had listened to me. >> ipad i think blows is away, tell me where i am wrong. >> you can read newspapers, and magazines on the nook. neil: as they can on the ipad, i'm not doing a commercial, i believe you, but you know. with the venture card because you can fly any rle anytime. two words. double miles! this guy can act. wanna play dodge rock? oh, you guys!
neil: well, don't say i didn't warn them. >> are you worried that the ipad redefined that genre? it is a game changer, is it got? >> no, e-reader and nook are my best selling products, you can read newspapers and connection. neil: as you can on ipad. >> nook was voted number one, reider. neil: that is before the ipad came out. >> e-reader, ipad is a different multiuse device. neil: i use them all, you are right, it is a multiuse device. but it is pretty good. i'm not doing a commercial, i believe you, but you know? did not know. and alas, barnes & noble ceo is
showns door, he is out of there issue lynch resigning in face of disappointing earnings, and disasters, including said nook, shares bumping up, time to blitz it out with hiz macdonald. and scott, liz? >> i would have fell like a withered salted snail talking to you about the nook, the idea that the nook could outpace sales of the ipad you are right, and amazon is a big competitor with the kindle. neil: the whole future was decided to that device, when the barnes & noble stand alone bookstores and on-line is still strong. >> they are going to break up the company, 30% of the stores will be sold over next decade, and deal is that, the idea let's
put barnes and nob else content in apps, in is as a company in dire straits, even holiday sales were disappointing with the nook. neil: what do you make of this scott? >> well, you mentioned doubling down, one doubling down effects of barnes & noble is the net loss, a lot of because of faith they put in this, you do hava get people into the stores, they are doing. but that is how mantra was of selling the nook, they were to go in customers and learn this was lighter than ipad or better than fire that is something that they fell short in, but your point about the stock, it has been dead money for last 5 years but the ceo steps down, it goes up a few%. neil: that is always hurtful. we see it a lot. but in this case, what are they
hoping for? >> there of word that microsoft might buy the digital assets but you leave company stripped down to real estate, whoment who wan, that is where barnes & noble stands right now. neil: do you have an issue with airlines? take the buzz. they are promising music, and wi-fies. scott, what do you think? >> yeah you know me. i am a tech addict, i love the planes you can get wi-fi and connection. then you have to keep jumping on and off theor. if you take a bus trip, it is
borrowing on greyhound there is no free food, no dogs on play with. wi-fi and tam entertainment migt keep people running. >> the british company that bought greyhound is using the airline model. they are offering free internet service on greyhound buses in britain. we hope they don't turn into nickel and timing fee model that airlines have done. neil: this could set the stage? >> we hope not they are trying to bust out greyhound to be a destination way to travel. even naming buses in united kingdom peggy sue or jolene. the wi-fi, free internet service is key. neil: peggy sue to cheshire? >> a quirky thing in the u.k., that is how they are selling the greyhound bus. neil: all right, third final
item, cough up cash, disney is out a hundred million at a minimum on the lone ranger, ticket sales are so disappointing. lizzy? >> i tell you, this is wow territory, these write downs are approaching john carter write down, they are talking 115 million. neil: what was ishtar in da dollars. >> i don't know. neil: i got you. >> disney does not care, it is a big gamble, they risk having a titanic movie hit with toys or a sequel orelon ranger -- the lone rangers rides the pirates of caribbean in the amusement parks, they thought if they throw off all other money. the movies are about 13% of their revenues, they make money from tv, and entertainment you
know parks, entertainment amusement parks they have. neil: scott, i said in movie previews and the like, you know showing johnny depp and lone ranger, the game figuring touting, you know that tonto character and pirates of caribbean character in the same game, maybe in the en not lose as much money on this and. >> maybe not. i can't believe they make a guy like you sit there movie previews. >> when you have two sons that the price. >> that is criminal. neil: i tried to leave them alone in the theater but it is risk i. >> it was a tough summer. think about it, man "man of steel," "iron man 3". i am sure a movie out there with lindsay lohan. the market is big, but lone ranger, icons it was up against
would not give it a fry pass, i am sure plane d many people do w much about the lone ranger, pixar is doing well with "monsters university" and they have planes coming out in a few months. neil: i have a theory people don't like westerns. >> yeah, i like them, but they are coming out with a "finding nemo" sequel, and star wars sequel, they ga gambled big. then they can't do as you point out, the toys that were related to lone ranger or the rides not the same cashe add pirates. neil: i think inverse relationship with more make up that johnny depp wears, the worse that movie does, i think without the make up, johnny be like me, and wear little
make-up. what do you think? >> well, you -- cover-up the star, and the movie can't has to sell itself. i agree with you. >> i would buy the neil cavuto toy with a cape. neil: we don't want you up in elaborate gash, you are the -- garb, you are the faith we know. ever since he started wearing more make up then phyllis diller game over. neil: food for thought, one in three americans eat free food. that is a lot to swallow.
assistance. some munchies courtesy of uncle sam, ed ramseya all for helping those in needs but you can not tell him, more than a hundred million americans are in need of this, and taxpayers should not be stuck paying for all of them to eat. >> this is tragic those are proud people that want to earn what they get by and large. i think we need to create jobs, give them incentives. there are a lot of people that are wasting the opportunities, when it is easier to be on the federal dole than to go to work, because the hands out are so generous, we cannot feed the world. we need to teach peopl people ho fish instead of giving them fish every day. neil: i wonder about too. remember dust up with mitt romney talked about 47%, ern getting their nose out of joint. military families and saying look we ser visions ou service d
who are you -- i do not begrudge them who put in their life, how did we get to 47%. double what it was when i got out of grad school, no one had an answer for that. should we be alarmed that benefits, 100 million plus are get something sort of food help. and nearly half of those den pay don't pay intom tax. >> this is a sympton of a greater problem. that is people believe they are entitled in so many areas, because they keep getting it for nothing, without an effort. why is it a person who has a job has to have a drug test, to get the job but you don't have to have a drug test to free benefits from the government. we got our priorities messed up this is a society of work hard, and make yourself better than
previous generation, make sure next generation is better off than you, as long as people are dependependent on government, government has power, that is about power, and politics. we have to take control of society, and get people back too work and productive. neil: do you think we don't get it? we continue to espouse you know independence and hard work, but we have a government backstop, that no not only inhibits the process, but replaces it? >> absolutely. i am looking at this health care bill right now, i am very deeply involved in a restaurant industry, every restaurant cheney know is taking their full-time employees pushing them to 30 hours to avoid paying big sums of money for insurance that people don'tment. this policy -- don't want, the wheels are coming off this wagon if you think it is about
healthcare. i think it is about embedding government in to your personal life to keep you dependent this decision is political, that ensuring that people will go to federal exchange program. neil: that i suspect was will goal all along. now i wonder, they were quick to extend it for businesses not individuals. they have to move fast, that is the next thing to be delayed. and delay, and delay. this was unraveling. >> it is -- from my point of view, looks at these people, they are getting benefits, there are people that do need help, let's help them, that is who we are, but the people who don't need to ought to be made to go to work. neil: you can't tell me a hundred million, or a third of all americans that -- if we're at that point we're mozambique, and i've been to mozambique
we're not. >> absolutely. >> always good seeing you, ed, thank you. >> thank you, let's get this fixed! neil: thank you, ed, now republicans are for health care law, find out why they are opposed to president puuhing back employer mandate, it is very clever, dem ct democrats ae worrying. t moogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪
willie-nillie. are they on to something? it is the law, and law states you don't go changes the law. >> well, let's face it we wish obamacare would be repealed. but in face of that we'll take what we can get, right now obama is having to admit his system is not going to work. even if just for small businesses more time we can buy, the more apparent it will be this system is false, today, they came out with fact that smokers when were originally going to be penalized they can't figure out how to penalize them, that glitch will not be fixed for a year, more time we get people to show the train wreck, more time to prove that obamacare needs to be abolished. neil: i was talking with lawyers earlier, who said when you have a law, unless you alter the enforce provisions you can do on your own but changes the daitz
andate,andism implementation, yt do that without congress. >> you can get sued. this is is his law, he can't say, that passed congress, but i am going to enforce the parts that i like. neil: he is hearing from folks who say, we cannot do this. >> that is not law that was passed. >> you hate this law? >> absolutely. i don't think that president can decide what he does and does not like. neillike. neil: what do you think. >> issue the bush signing statements we go. >> here we go with amnesia. he said certain laws that will ignore. neil: leaves that aside. >> i find that republicans of
obama right now said he will abolish obamacare, republicans would say he is trying to get rid of people with preexisting conditions out. even now. neil: you do you think it is against the law to change the implementation of a law? >> i am not a lawyer, i don't know. neil: i talk to lawyers, they said. >> it may be. i don't i am not discounting it but i am against hypocrisy on behalf of the republicans. neil: oh, and democrats so show hipracy. >> everyone does. >> not me. i am perfect. >> they are making a separate set of rules for business community. neil: i think they are changing that.
argument for was who save the little guy. >> republican say you have to delay the enforcement of individual mandate. neil: they will, and what happens then is that law -- >> the law falls apart. neil: that is what i think that republicans are up to. i think this is a clever ploy to dismantle this using the law as a dismantelling vehicle. >> right. cavuto you said this is a political move, what is reality, democrats did not want american teapeople to feel the wrath and truth of obamacare before the 2014 election, that is what this is about. they knew if people are getting penalized like they are getting -- >> wha why would you risk keepig original mandate in pace. >> immediately when obama care of put in to place, 1200 companies were almost exempted perioedimmediately, majority wee
unions, those who contributed to obama, cities overwhelming for obama, the whole obamacare has been political. neil: i do think. this thing seems to be running out of gas, because the funding for it is not there. either from corporations or low wageworkers from the inevitable the -- uninsured who don't want it. >> you tell me that uninsured, would rather not have insurance. neil: 2 out of 3 down want into this. >> they don't know anything about it, the republicans have done a phenomenal job of demonizing a law. neil: if you all of a sudden had healthcare coverage coming your way, and you are thinking twice, whatever you say, you know low wageworkers who cannot afford i -- >> but they get subsidies.
neil: my point the foundation for this is dissolving. >> it not, you wish it was. neil: money in money out. i am a business guy. more money is going out. >> much like republicans were against medicare, and the programs in '60s that are popular now, bottom line, look, the law is the law. the republicans can vote to defund it or repeal it or whatever theyment. it will bthey want. neil: then you say you could fix it, you could dress it up but sometimes you can't put lipstick on a pig. >> i don't think it is a fig. neil: scott i finish. >> >> i do, he said republicans are trying to know what is in the law, nancy pelosi herself -- neil: she didn't say that. >> nancy pelosi herself, said had terz herself. neil: i think that nancy did read the law, but she would not say was what the in law.
what do you say? >> this is a disaster, it should be defunded, the republicans did not do a good job of talking about alternatives. the bottom line, people don't like it obama administration is trying to amend it to make it people like it, in process they will crumble the law. neil: we do have a history of their actastrous laws. together. but my point we have a history of fixing things that start off bumpez bumpy. >> every day we wake up to a new component of this law that is crumbling. neil: i'm putting you down as a maybe. >> i am undecided. >> it is going, the way that none of my colleagues want it to go, it will be the law. they will improve it, and tweak it. >> decrease quality of care. neil: now i am not surprised
that rush limbaugh hates you. >> he does? neil: you never know. fair and balance, and having fun. we'll see you tomorrow night, good night everyone. there is a pursuit we all share. a better life for your family, a better opportunity for your business, a better legacy to leave the world. we have always believed in this pursuit, striving to bring insight to every investment, and integrity to every plan.
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