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.
SHOULD WE "REDISTRIBUTE" WEALTH TO PAY DOWN OUR NATIONAL DEBT?
Jonathan Hoenig; Capitalistpig.com: It makes the debt problem worse it makes the country worse. What Michael Moore is describing once again is communism. A society in which wealth is publicly owned, capitalism is a society in which wealth is privately owned. Moore believe the rich have no rights they earn their money on the backs of the poor. It is government's job to wait for it, redistribute it in a more fair process. What he's describing is a society of slavery. If you don't have a right to your wealth, you have no rights. You end up in collapse like Venezuela, Cuba, like every other society that Moore and the left idolizes.
Wayne Rogers, Author of "Make Your Own Rules": Michael Moore I thought was a bright guy but that statement is moronic. For example, he says there's a fixed amount of cash in the United States. That's dumber than dirt. We know the printing presses are running all the time. Cash is being printed by the Federal government. Their open market meetings in which the money play is expanded and extracted and contracted by virtue of their action. He doesn't know what he's talking about.
Christian Dorsey, Economic Policy Institute: He's talking a fundamental reality. Cheryl, across town from where you are is this big luxury building the Helmsley building where the average resident earned 1.2 Million dollars in adjusted gross income. On that they pay 15 percent effective tax rate. The janitor who works at that same building who earns about $33,000 a year paid effective tax rate of 25 percent. That's just outrageous. What we're talking about is bringing a little fairness to that. If you had the wealthy paying the same rate as the working-class we would have a better deficit situation.
Tracy Byrnes, Fox Business Network: If you look at New York, New Jersey, Maryland they've raised the tax rate on the top 2 percent revenues and people fled the state. This has been proven. None of this fixes our deficit. Why? No one is addressing spending. You can redistribute until the cows come home. You need to re-teach congress how to spend. Until you do that, forget it. You cannot take my money because you think somebody else deserves it.
John Layfield, Five Stone CEO: We are talking about having 20 trillion in deficit by the end of this decade 150 percent of GDP. If you take everything made by the rich, 500,000 or more it is 1.3 Trillion if you take all of their money, you are still 350 billion dollars short of paying the current deficit, not to mention the unfunded liabilities of 20 trillion we are going to have by the end of this decade. These numbers don't make sense the idea that we have the rich pay for everything, everybody gets ice cream and free health care makes no sense in the real world.
POLICE DEPARTMENTS USING VOLUNTEERS TO SAVE MONEY: GOOD WAY TO CUT COSTS?
Wayne Rogers: This is a great idea. It is working. These people are trained. They are not untrained. They are people who are trained and they put in a lot of hours in training and practice. The jobs that they are doing are not life threatening jobs. They are clerical people. People who are volunteering for all kinds of things that police would otherwise do so they can put the police back on the street doing the jobs they are supposed to do. We have a history this country of volunteer firemen. We have a history of volunteer police force. And there are 2,100 police departments that use these people successfully.
Jonathan Hoenig: This is an idiotic idea. The whole purpose of having a government is the use of force. The police, to put them under objective control. Not run the schools, collect trash do all this other stuff this is why we have government. The notion that we should outsource the police, you are wrong, they are not simply doing clerical work. They are collecting evidence, interviewing witnesses. This is why we have a police force. It shouldn't be outsourced.
Tracy Byrnes: We have to separate the police and firefighters from the Social Security Administration. I'm not sure we have a history of volunteers for the Social Security Administration. Not sure anyone would want to do that.
Christian Dorsey: The folks who serve our community as government workers are in most cases highly educated, trained and bring special skills to the job. You don't find those in the general population in an effort to be opinion any-wise you can be foolish and expose -- to be penny-wise you can be foolish and expose your community with inexperienced who are doing jobs that are professionals are paid to do. This is outrageous to me. For police forces that have had a role for volunteers they've been doing that forever with Police Auxiliary units. If they really want to be responsible this is not the way to go could you end up paying more in unintended consequences down the road.
John Layfield: It is a benefit. Jonathan and Wayne are correct. These guys are trained. Volunteer firefighters at their own expense get trained these guys are heroes and deserve honor not to be denigrated. Not that anybody is denigrating these heroes. Look at communities that cannot afford it. This is a great service. We got social security, Medicare and Medicaid where our deficits have problems. To eke out policemen and firefighters to cover a $1.6 trillion deficit this is the tail wagging dog.
TEACHERS BEING PAID TO DO UNION WORK INSTEAD OF TEACHING
Tracy Byrnes: The union taking advantage again. We are paying two jobs for one person at he did of the day. Substitutes in the classroom. -- At the end of the day. Substitutes in the classroom you want the qualified teacher in. Sufficient happens, you want to be sick, -- stuff happens, you want to be sick, fine but I don't think it is right.
John Layfield: There's an incestuous relationship with the teachers union that is -- bought and paid for the democratic party. While there are great teachers in America our system is failing. We went from Second to 13th as far as college graduation. Only eight countries below us in high school graduation rates. We are 25 out of 34 in math. The system is failing. Go out to the system that is broke and that has to go with beginning to get rid of teachers that are not good and compensate the teachers who are.
Christian Dorsey: Working for the unions didn't mean they are performing some other job. They are stewarding their colleagues through disputes with management and saving the school district money in the form of reduced litigation and teachers not going on strike. We have not seen a strike in New York City schools in 40 years. Imagine the disruption, lack of quality education that goes on we have you have work stoppages. Don't act like these people are doing some other job this is important work. I remind you it takes two sides to make a contract not just the unions.
Jonathan Hoenig: How about get rid of public schools? I don't want to pay union people, teachers. Your kids are not my responsibility in the past 100 years, we have totally socialized the market for k-12 education who is funding this? Not the willing consumer but the involuntary taxpayer forced to support this union waste. You are talking about how wonderful the schools were. I thought they were terrible. Of course they are they are monopolized by the unions it goes on and on.
Wayne Rogers: This is a case where you are talking about paying people to work for the union and the teacher at the same time. It didn't matter what work they are doing. It makes no sense. In other words, somebody is being paid not to do a job.
WHAT DO I NEED TO KNOW?
Tracy Byrnes: Amazon warns California it may have to cut ties with ten thousand vendors because of taxes and regulations.
John Layfield: (WMT) is "a slick way" to profit from rising oil prices
Wayne Rogers: Buy AAON to "heat up" your bottom line
Jonathan Hoenig: Watch your profits rise with interest rates; buy (TBF)