DISCLAIMER: THE FOLLOWING "Cost of Freedom Recap" CONTAINS STRONG OPINIONS WHICH ARE NOT A REFLECTION OF THE OPINIONS OF FOX NEWS AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE WHEN MAKING PERSONAL INVESTMENT DECISIONS. IT IS FOX NEWS' POLICY THAT CONTRIBUTORS DISCLOSE POSITIONS THEY HOLD IN STOCKS THEY DISCUSS, THOUGH POSITIONS MAY CHANGE. READERS OF "Cost of Freedom Recap" MUST TAKE RESPONSIBILITY FOR THEIR OWN INVESTMENT DECISIONS.
Bulls & Bears | Cavuto on Business | Forbes on FOX | Cashin' In
Bulls & Bears
This past week's Bulls & Bears: Gary B. Smith, Exemplar Capital managing partner; Pat Dorsey, Morningstar.com director of stock research; Scott Bleier, HybridInvestors.com president; Tobin Smith, ChangeWave Research editor; John "Bradshaw" Layfield, WWE superstar and Northeast Securities senior vice president, and Marc Lamont Hill, Temple University professor.
Trading Pit: Dems' 'Mother Of All Tax Hikes': Bull Market Killer?
The Democrats rolling out what they're calling "the mother of all tax reforms". A plan some say would "hike" taxes by a trillion bucks. Would that kill our bull market?
Bradshaw: Absolutely. The reason why these people are in politics is because they can't make it in business. What they're doing is horrible. I started up a business recently, the tax increase would hit me directly-I won't be able to hire as many people as I would like to because of it. It's killing incentive for small business owners. It is insane!
Gary B.: The rich are primarily entrepreneurs and small business owners. The type of people driving the American economy is the small business owner that eventually becomes the large business owner. These are the people that will get hit the hardest, and that will hurt the market.
Marc: This isn't targeted to people who make over $200,000 it's really targeted to people making over $500,000. Over ninety-one million people will receive a tax decrease from this. Essentially, this will stimulate the economy because the middle class will now be able to spend more. Those small business owners will now have more free money.
Tobin: Ten percent of Americans pay roughly eighty percent of all the taxes. The point is: they are the discretionary spenders. In this bill Charlie Rangel also wants to tax an additional $110 billion on oil, at a time where we have ninety-dollar barrel oil.
Scott: If taxes go up on individuals, we're still going to work, spend money, and send our kids to school. But if you raise taxes on investment, it will send people running for the door, and out of the market to lock in a lower capitol gains. It will definitely affect the market; it will also affect risk taking, capitol formation, and everything that creates jobs.
Pat: Wall Street doesn't care. It's not going to kill the bull market in anyway shape or form. Right now, what's affecting the market more than anything is housing prices and consumer spending. Anything that goes into action here wouldn't happen for a year or more, and simply won't affect things.
California Wildfire Relief: Big Busine$$ to the Re$cue
Tobin: The best of America does come out in these types of catastrophes! This is the best of all America including the Corporate America.
Gary B.: Some may say that these companies and corporations are greedy and self-serving. But here's the beautiful thing: that greediness to spread its name is helping a lot of people. It helps people, it helps them, and it works for the community.
Pat: Motive doesn't matter at all. Companies are neither good nor bad. It's simply a mechanism for efficiently organizing resources, that's all a company really is. Some are helping for altruistic reasons not expecting to get anything back from it. Some are doing it to spread its good name for good public relations.
Scott: The one thing about American corporations is they get in there faster, and with no strings attached. You can't buy that kind of PR. It's good for everybody! Good for businesses and good for the people that need help.
Bradshaw: Corporate America is not getting enough positive attention over what they do. Look at what they did with Hurricane Katrina and the Tsunami in Asia. America is one of the greatest places in the world and one of the most generous.
Chartman: The Chartman's Four Best Stocks!
If you want to watch what each had to say about his stocks, click here.