tv Cavuto on Business FOX News July 13, 2013 7:30am-8:01am PDT
>> tracy, twinkies will be available nationwide on monday. mrs. obama will be thrilled! guess what my kids are havetion for lunch next week. >> absolutely. there's nobody on a bear on twinkies. >> neil, take it away! fox on top of an irs budget that is now over the top as the fight for jond the top because if we can't cut a few billion from an caught targeting conservative and caught spending money on this, what can we cut? i'm neil cavuto. let's start chopping. republicans want to chop a budget for irs. and democrats won't have anything to do with it. >> what do we want to do, go around and give people a tin cup and give money to pay for police, firefighters, government, capitol building? how do they expect to run this
country? >> this is the irs! they don't do that! well, how about with a little less cash and a whole lot less -- i'm sorry. i didn't eat. you don't want to deal with me. to ben stein. charlie's book, "circle of friends" racing up the best seller charts. we'll get into that and some of the themes fit nicely today. doctor, what do you make of this? i mean, to equate trimming on irs budget where we already know tens of thousands of irs workers are working solely for unions now is probably a good time to be considering -- >> well, liberals like the irs because it collects all the money to basically finance the welfare state. she was saying that in the most inarticulate ways imaginable because the new york city fire department is not financed by the irs. you know -- >> but didn't that scare you more?
>> she has no idea what she's doing? >> yeah. >> it's not the irs who pays that. i almost felt like underneath that to do a fox news alert. hey, lady -- >> it's scary how little these people know. i talked to chris dodd about the banking system, he authored dodd/frank, the big financial reform law. he told me the canadian banks are bigger than the u.s. banks. so all these people are, in my view, three sheets to the wind when it comes to that stuff. >> i say a double quarter pounder has as many calories as a salad. josie, what i'm wondering is these are the people who are going to allow the irs to oversee health care in the next -- and hire thousands of agents to police this. and it worries me. >> charlie hit the nail right on the head. they just -- for every dollar they raise, they spend on irs, they bring in $6. >> prove it. >> but here's the points. we've got a great opportunity to starve the beast. how about we just don't give
them anything. how about we close up shop and start from scratch/. >> now you've gotten on the crazy train. >> everyone talks about -- >> until you redo the entire tax code, which might be your point -- >> how do you redo the tax code when you get rid of the irs? every president has promised -- >> don't yell at me. i'm on your side. what do you make of that? >> if you really want to starve the base, you get rid of all the deductions and you -- >> then you do that and then the beast is gone. then you don't need the beast. >> then you don't need to legislate, get rid of it. i don't think that this cut will make all that much of a difference because the real issue here with the targeting of conservatives, like -- until you do wholesale change on the people who work there, i don't know how cutting the budget by a quarter is going anything. >> it's a billion less than what the president wantsed, a total of four billion less than what the president wanted. the point is, when you start the beast when it's trying to raise money, it makes it worse.
i understand where the administration is coming on that, but you have to be hard on it in some way, shape or form. it would be like an annual review, giving a pathetic worker a big raise chblt t. the worker doesn't deserve it. >> it's not about the worker. >> yes, it is! the worker sucks. >> the unite, the division deserves the money. charles is the only one being honest. he's showing his true colors. >> waixt. you would give them this extra money. you would support giving them extra money with all the problems, wouldn't you at least hold off on throwing extra money out there? >> no. it's not a question -- the budget is not the opportunity to punish these people. punish these people -- >> yes, it is. i tell you why it is. ben stein, here's why it seems draconian, but if that office isn't going aheaded and that agency isn't going ahead and going after these rogue agents, if they claim they're rogue agents, if they're not continuing to pay commissioners who have to step aside and get paid while they aren't stepping aside and pleading the fifth, this is really the only pain you
can exact. >> well, you can -- if these people really were snooping illegally, if they really were violating laws, you can put them in prison. i don't see any point in cutting the irs budget. it is true they collect -- >> you're in cahoots with -- >> i am in cahoots with them. >> you are afraid of irs. you are a scaredy cat. >> we have to collect that money to defend the country. we have many uses for the money that's legitimate. i don't see any -- we had some rogue agents. let's punish them. >> it's more than rogue agents and you know it. >> neil -- >> it's an agency out of control, but let's lay it out on the line. they have to collect taxes now for obamacare. isn't the irs one -- >> so they don't have time to waste. they need the money. >> but charlie, you're confusing matters. >> they're overseeing -- >> neil -- >> i'm sorry. adam, go ahead. >> if you want to put this in a corporate sense, i mean, would you want to get rid of the
accounts receivable department because there's some rogues throwing parties in that department? >> if they're losing money hand over fist and they're not doing their job, i'm certainly not going to increase their budget. i'm going to ask for some heads. >> why? why not snf becau?not? increases the budget maybe gsz it better. >> i would say this. the irs is systemically broken. i mean, you don't go out there and specifically target conservative groups unless there's something radically, internally, inherently wrong with the agency. and it sounds radical, maybe you do have to start from the beginning. >> again, charlie -- >> wait a minute. they targeted people. >> how many irs agents are there and how many were behaving -- >> they had a whole office. >> how many were behaving like rogues? >> wait a second. they had a directive from the white house. that's basically been proven. >> you don't know that. >> they said it! >> i'm not saying it's obama. that cincinnati office said they
had a directive from washington to go after these groups. there's something systemically wrong. >> then punish the people who gave the directive. why punish all the agency? >> then to charlie's point -- >> because it's as inherently flawed. >> to charlie's point, when you have a few rogue people, that means those people aren't being supervi superviseed. >> and they're not -- >> charles -- >> here's what worries me. they lied every step of the way. they said only a few conservative groups. turned out to be hundreds. only a few groups, no, no, we're not accidentally releasing information. lo and behold, we found out 100,000 social security numbers were released. i'm telling you where there's aif pattern there's a way to say, you're obviously not up to the job you're presently doing. rein them in. >> to daigen's point -- >> why aren't -- >> they don't know who they are yet. >> exponentially harder. they're going to build an army of these guys? we're talking about an agency
morphing into the east german police. >> you know the real dirty secret? we have half of this country that pays no net federal income tax. not a dime. >> then they need the irs to get blood out of that -- >> what adam forgets is, listen, if you cut their budget, maybe they wouldn't have time to go after these conservative groups. they're wasting money. i mean, this is a whole ridiculous exercise, going after conservative groups. >> not this segment. you mean -- >> the fact they targeted conservative groups. >> because we're upset! >> to make one copy and share. >> go ahead. you had a ridiculous point to make. >> the segment and charles gave accurate voice to it, which is charles doesn't want to collect any taxes. he doesn't want an irs. >> i do want to collect taxes. >> you don't. you want there to be no taxes. >> we need a system that's fair to the country.
half the people in the country with no skin in the game, this is a monster. >> it's like charlie saying he doesn't believe in budgeting our national defense. >> why can't they prioritize? >> he's the one being honest. he doesn't want tax collectors. >> no, no. i don't -- >> he's not the token on the segment. >> by the way, how much did those videos cost? >> i have no idea. >> why are they wasting money on that? >> we all seem upset. when we come back, do any of you remember this? >> health care reform is no longer an unmet promise. it is the law of the land. it is the law of the land. >> so if it's the law of the land -- again, the president can the president pick and choose which parts he can enforce in that law of the land? we pick. you pick it apart. 7k
live from america's headquarters, hello, i'm gregg jared. we are on verdict watch as the jury in the george zimmerman murder trial is now deliberating for a second day. that's a live look outside the courthouse in sanford, florida. the six-member all-female jury weighing whether zimmerman murdered trayvon martin or fired a fatal bullet while fighting for his life. zimmerman of course is claiming self-defense. if he's found guilty, he faces a mand story minimum of 25 years, the charge is a felony. the max is life in prison and a $10,000 fine. in the meantime, police and civic leaders pleading for calm in sanford and indeed all over the country no matter the verdict. a county sheriff saying there is no party in this case who wants to see any violence. we will bring you the verdict as soon as it happens. i'm gregg jared. now back to cavuto on business.
you sign the health care law, promote it and push aside a part of the health care law. continuing fallout from the president's delaying a key provision that requires bosses to provide health coverage for their workers. ben stein, can he pick apart what parts he doesn't want to enforce? >> obviously he thinks he can, but the constitution says that he must take care to fully enforce the law. there is a wonderful piece in the "wall street journal" about this by a former federal district court judge who says he cannot pick and choose. obviously the president can pick and choose which laws to enforce and which not to enforce. there would be no need for a congress. so i think once he has gotten the congress to pass the law it's the law and he can't just suddenly decide not to pass it. this is like signing the statement that mr. bush would say where he wouldn't say he wouldn't enforce parts of the law. that wasn't legal either. >> this is where the republicans look weird, dagen.
a law they hated they now say the president has to honor that law or he's breaking the law. what do you make of that? >> i think the way they should handz elle this is go and say, okay, we'll let you do this, but you also have to delay the individual mandate, you have to do both of them. >> can you negotiate, how about, you delay the whole thing and stop it? >> i think -- >> that's the motivation. >> then the next move is to slowly knock this thing down the road until it falls apart completely. >> that seems to be their agenda. >> if i were the republicans, i'd be like the viet-kong, sit back in the jungle and let obama make the mistakes, let him show how insane this whole thing was, he never thought it through, passed it and then read the law. maybe he hasn't -- >> i don't think he's looking like an idiot. i think he's looking -- >> wait a second. the polls show are even more against this law than in the beginning. >> i think republicans are doing that, which is why they haven't stepped up to the plate and said, mr. president, you can't
pick and choose which laws you can cancel without talking to us. >> but there is a tad of hypocrisy. >> and it's a dangerous slope. you don't want to start establishing different precedents for the president. now you can pick and choose what laws you want to implement and not implement? tess a dangerous game. but having said that -- >> he's the president. >> -- how about the idea with a signature piece of legislation right up there with the emancipation proclamation and bill of rights, the most increddedible legislation in the last two centuries we have to tinker with it. it's amazing. >> we've tinkered with enforcement provisions in the civil rights act, voting act. >> right. but they were actually implemented. >> i think i know a little more about civil rights than you do. i love doing that to charles. he gets so annoyed. you know, adam, i'm thinking maybe there's precedence for this. what do you think? >> this law requires regulations. there's a regulatory process here. that's what the president is tinkering with. by the way, it is crazy to
criticize the president for being responsive to businesses who say, this thing is difficult, we need more time. >> oh, adam, you don't think the midterm elections have anything to do with this? >> but he's being responsive to his critics! >> that's not what happened. >> he's being responsive to you. >> that's not what happened. >> adam, this isn't the only signature piece of legislation that's not fully implemented. there's something known as dodd/frank. >> i want to address what adam said. if you think the government and the white house did it for the businesses, you are out of your tree. read the "wall street journal." they said it's because the rules had not been written by the government to give those very businesses guidances,s and the computer systems weren't even in place. it's because the government and the white house can't get its act together. has nothing to do with the businesses. >> you don't think they're listening? >> what she said. >> ben -- >> you don't think they're listening? >> here's what i want to ask you. is this thing falling aapart, or is the president being too
crafty for words and finding a way to have his cake and eat it, too? >> i think the whole administration is falling apart. the incompetence is unbelievable a. he's never yet submitted a fully comprehensive budget. he's been in office for 2009. never been able to complain benghazi, explain what happened with the irs. this administration is just falling apart. >> i asked you about the affordable care act. the two biggest pieces of legislation, obamacare and dodd/frank, they've been passed but not implemented. they don't know how. >> they are being implemented, charlie. >> it's very hard. >> maybe until the end of this year it won't be implemented. >> the exchanges are going into effect. i mean -- >> the exchanges -- >> you can't look at this -- >> is the cup half-full or half-empty? >> it's not. >> thank you very much. in the meantime, first you find out that the nsa may be spying on you and now you're
paying for the privilege? the "forbes" gang has the eyes on the spies at the top of the hour. but first, you could pick your doctor, why not your pilot? >> 911 emergency. >> there's been a crash at san francisco airport. there are people injured on the tarmac, seriously injured. >> ma'am, we have reports of it. we're aware of the situation. [ male announcer ] frequent heartburn? the choice is yos. chalky... not chalky. temporary... 24 hour. lots of tablets... one pill. you decide. prevent acid with prevacid 24hr. but, dad, you've got... [ voice of dennis ] allstate. with accident forgiveness, they guarantee your rates won't go up just because of an accident. smart kid. [ voice of dennis ] indeed. are you in good hands?
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pilot's experience or lack thereof. why if you are allowed to pick your doctor, why can't you pick your pilot. calls to do just that provide pilot's records and we don't have to experience this. what do you think? if you were to ask the passengers on the flight, your co-- pilot a safety record but hasn't floun in san francisco, do you think that some of them at lost would think twois? >> absolutely. from a business model point of vow, it would wreck the industry. but first time flying and first time supervoiced. tell me training flight. give me an option to opt out. >> no way. >> and adam, you don't concur? >> no, you do have an option to pick your pilot. it is called flying private. we have an extremely safe
commercial aviation system in the united states, extremely safe. we have to love it in the hands of the faa. >> we have an incredible safety record. >> can't there be more disclosure. you so student drivers around. >> what about the boeing 777 and that dude in the air. >> and the average american is not got a way to ascertain. the most dangerous thing is a tired pilot and that is what you will not know. >> tired or drunk. >> there are rules. >> what do you make of all of this? should we have a standard database to go to so we can look at who is piloting the plane? >> i think it makes a lot of sense and fa a should be cracking down hard. the idea when you make your
reservation who will airline pilot will be. the airlines may not know. >> he's right. >> a light on the side of the plane, student. >> that should go well. >> you are being goofy. >> you don't buy it as a good strategy. >> no, a guy from al-qaeda, i am on? >> and last week we landed at sfo. we were so high over the sea wall. i don't understand how this happen. we have stringent rowels and they are followed successfully. >> i agree. i am very proud of the pilots in this country and the way our airlines are run. >> and a hell of a lot more people should have died and did not. >> despite the pilot telling them to stay in the seat. >> student driver. l logos. >> ban him from the airplane.
>> i want to thank charlie and dagen. i mean that from the bottom of my heart. another strong pick for stocks. the ones getting involved and staying engaged. they're not afraid to question the path they're on. because the one question they never want to ask is "how did i end up here?" i started schwab for those people. people who want to take ownership of their investments, like they do in every other aspect of their lives.
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we're cracking down on medicare fraud. let's make medicare stronger for all of us. >> stocks to keep the market strong charles what have you got? >> move over silicon. this is stock that is breaking out this week. >> adam what dow think about it? >> they haven't paid a dividend. >> what do you peck? >> sdy. the dividend paying and a way to get a return. >> what do you make of that? >> i like it. i think it is an excellent pick. and i will put mine with warren buffet. i, you never think he is over rated? >> no, i think he is underrated and a genius on a unique scale.
>> long- term they are good? >> long-term it is great. i don't know how much longer and i love anything with mr. buffet. >> guys, thank you very much, that will do it. >> you think it is just your privacy under attack? try your wallet. to how much phone companies are charging the u.s. government for the u.s. surveillance and the government is paying for it with a tax paying money. is this an outrage? or if it keeps us safe is it a small price to pay? welcome to forbes on fox. i am elizabeth mcdonald filling in for david asbin. we'll go to john and rick and we welcome dan mitchell today. we have a great crew, john, what do you
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