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.
CALL GROWING TO THROW OUT THE OLD 'COST CREATING' PLAYBOOK
Charles Payne: I love part with corporate taxes going to 15 percent, right now the highest in the world and let corporations keep more money. Some of the third world companies and communist companies have better tax rates on corporations. But in my mind, Tim Pawlenty laid out a cohesive plan. Get rid of Amtrak, no reason the government should be involved in that. I love the plan, I really do. I think it's a step in the right direction.
Dagen McDowell: You've got tax reform that cuts all of the ways you simplify it and make it easier to do business and he wants to get rid of capital gains taxes, right? I mean, you want to talk about putting money to work in the private sector, but we should point out that the Simpson-Bowles plan also talked about reforming the tax code and bringing rates down. It's not quite the same, but top 23 percent, 25 percent for Pawlenty's plan. So the President has actually been given some of the ideas and they weren't doing anything with it. Because it's government over private industry.
Charlie Gasparino: The so-called supply side push takes a while to occur. Listen, he's also calling for cuts. What I like about this, this is what Paul Ryan should have done. I mean, as much as I love what Ryan said, having the courage to say what he said, when you're running for President and trying to change the debate in Washington, you have to sell stuff and you don't sell stuff by saying we're going to cut everything and you've got to pay and sacrifice. You sell stuff saying here is the growth for the future. Here is where you should have confidence in the future. And yes, we're going to reform this stuff and I tell you, him stepping up to the plate is a great thing.
Ben Stein: I think this is one of the most poorly thought out plans I've ever seen in my life. He's drunk the entire jug of supply-side Kool-Aid. Supply side doesn't work, we've seen it over and over again. There are no connective mechanisms... Coming anywhere down the road and we have a enormous budget deficit, to aggravate at this point is suicidal and I just don't understand what this plan has to do with reality.
Adam Lashinsky: I think that Charlie's comment was interesting in sort of criticizing Paul Ryan for not having done this. There's the different, Paul Ryan is in a position of responsibility and authority right now. He's trying to legislate, Tim Pawlenty is not. I agree if you're going to run for President, you want a bold program out there for people to line up behind. That's what Pawlenty has done. One more thing, his plan calls for 5 percent U.S. economic growth on an annual basis, it's not going to happen no matter who the President is.
GM CEO PUSHING GAS TAX HIKE TO HELP BOOST VOLT SALES
Ben Stein: If we're going to subsidize a product that's not economically valid, we should have our heads examined. We're spending so much money and so much billions especially in my state of California on genuinely uneconomic energy practices, such as windmills and solar, to add to that injury with further insult after gas tax to subsidize cars that don't make any sense, that doesn't, it just doesn't make any sense at all. If it's not economically valid and does not work economically, why subsidize it?
Dagen McDowell: Because they've bet the farm on these vehicles, Ben, and we're paying for $7500 per vehicle tax credit for these puppies and they want more. Ackerson, the CEO of GM he isn't the first to propose higher gas taxes. Bill Ford, Rick Wagoner before that.
Charles Payne: GM is still Government Motors and you know, the real sad item here guys is that there will probably be some sort of a gas tax hike because this is something that the President wants, I think it's classic behavior. I mean, really, anybody you bail out, your brother-in-law, a country, a company, usually they come back for more, usually they're ungrateful and come back for more and in this case, it's a shame.
Charlie Gasparino: I wouldn't have a problem with this if the vehicles worked a little better. You know what I'm saying? Listen, oil is a finite resource and we have to address this issue at some point. But, you know, as Ben said, do these things work?
Adam Lashinsky: Dagen was speaking earlier about people who supported gas tax. That would include Dagen McDowell for at least the last two years. In my opinion we should have higher gas taxes and nothing to do with supporting the Chevy Volt. We should have higher gas taxes so that our gas prices come up to where the rest of the world is and as Charlie so wisely said that would help as a country
U.S. GIVING EGPYT $2 BILLION IN AID; IMF OFFERING $3 BILLION
Charles Payne: This is a no-brainer. They don't want our money; I don't want to give it to them. Stop the check now. Last year we gave $1.3 billion for the military and $250 million for other aid. Here is the thing; the same poll says that only 10 percent thought of the USA as a political model. We are trying to instill democracy by giving money and they don't care about our democracy.
Ben Stein: In my beloved city of Los Angeles, the best city in the world, they're laying off teachers and police and we have a lot of uses for the $2 billion here in America. If they don't want it, I'm not sure whether they don't want it or don't want the political group, but if they don't want it and they don't like it, let's just keep it here. We have an awful lot of hard-working police, teachers, civil servants who are going to lose their jobs, keep it here and keep those people employed.
Dagen McDowell: It's a lose-lose for us. We have to be careful, you give them the money, but you don't want to impose too much on the country and how they use the money. This is not a loan, Neil, we're forgetting it back. Don't act like it's a loan.
Charlie Gasparino: Well, you don't know that. Well, listen, the fact that they don't want our money, they meaning the people, the average citizen doesn't want our money. That's kind of a good thing. Think about what they're saying, they he don't want our influence on their government.
Adam Lashinsky: Just as we shouldn't conduct domestic policy by polling, we're certainly not going to conduct our foreign policy by polling. We're not necessarily interested in their opinion. We have our foreign policy goals.
STOCK PICKS: BUY AND HOLD WINNERS
Ben Stein: Berkshire Hathaway (BRK.B)
Charles Payne: Kansas City Southern (KSU)
Adam Lashinsky: Vanguard 500 Index (VFINX)