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The Five

'The Five' Ways to Create Jobs

This is a rush transcript from "The Five," September 8, 2011. This copy may not be in its final form and may be updated.

BOB BECKEL, CO-HOST: It's the second most anticipated jobs plan of the day. "The Five" jobs plan.

We each have come up with an idea how on to create jobs in this country. Since I'm leading this segment, I think, we'll start off with my idea first. And it won't have any swear words in it, which I'm for two things right away -- massive infrastructure repairs. I mean massive.

We have $7 trillion in repairs to infrastructure that needs to get done in this country. If we spent money to do that, we would put a lot of people to work. We would have a lot of residual payoff. It will ripple through the economy and employ a lot of people. And the payroll tax deductions that the president is talking about tonight, extending them both to individuals and businesses, I think makes some sense.

Now, Andrea, you got some pro-business idea.

ANDREA TANTAROS, CO-HOST: I do. I believe in cutting dividends and the corporate tax to zero permanently, so we can bring those jobs back from overseas, bring the profits back to this country and make us hyper-competitive globally.

And the dividends bringing, eliminate that tax would just attract people to the market. More people would invest and making them permanent would give businesses certainty, because right now, they're operating in a temporary tax code. Every couple of years everything changes, and that's no way to plan.

BECKEL: Eric, you got one?

ERIC BOLLING, CO-HOST: Bob, before I do mine. Can I just ask how are you going to pay for massive infrastructure spending that you are proposing and the payroll tax that you --

BECKEL: I don't think that the deficits matter. So, it doesn't matter to me.

BOLLING: You just go deeper in debt.

OK, guys, here's my repatriation of the $2 trillion or $3 trillion that are being held by corporate coffers overseas. Bring it back. Tax- free as much as they want to bring back, 25 percent, a quarter that gets escrowed for American hirers, hiring American employees or into buying American capital equipment and investment. It creates jobs. It probably could create 2 million or 3 million jobs.

By the way, very quickly, 20 different lawmakers, Republican, Democrats, independents, congressmen, senators and governors have all signed on to the plan. They think it's a great plan. Someone should get it.

BECKEL: I signed on to it. I think it's a good idea.

Monica, you got one?

MONICA BOLLING, CO-HOST: Can I say this to, Bob? This is my zero for the day. This is how many jobs Mr. Obama created.

BECKEL: Let me just do this right.

BOLLING: I was sitting on that.

BECKEL: Sorry. I thought it was a muzzle.

CROWLEY: We've hit a new low on "The Five." Bob just bit into Eric's cushy cushion.

OK. Mine is to repeal Obamacare, which I know politically is not realistic at this moment given that the Democrat is president and Democrat Senate. However, this is the single biggest impediment to job creation in the country right now with its labyrinthine, stifling regulation, higher taxes, higher cost. So much uncertainty we talked about the market and how it hates uncertainty. This is literally stifling jobs creation.

And, by the way, the Heritage Foundation came out in a study in the last couple of weeks that showed we actually had real job creation and real recovery going until guess what month? April of 2010, the month Obamacare was signed into law and then it came to screeching halt.

BECKEL: What was that word? Labyrinthian? (sic)

CROWLEY: Yes, look it up. Labyrinthine.

BECKEL: I never get it done in school. Obviously, I never got any manners either.

Greg, you got the triple plan, right?

GREG GUTFELD, CO-HOST: Yes, it's the Greg Gutfeld triple roll plan. It's rolling the doobie, rolling the dice, and roll in the hay. It's pot legalization, legalizing gambling, and legalizing prostitution nationwide. It will triple job growth by creating or expanding three vibrant sector of the above and underground economy.

According to the Gutfeld Institute of Statistics and Ointment, the bold plan will create 3 billion new jobs, all of them awesome.

BOLLING: Present employee.

GUTFELD: They get paid well.

TANTAROS: That's a plan that Bob can get behind.

GUTFELD: Bob, you must be for this.

TANTAROS: With your labyrinthine past.

BECKEL: I certainly am not. It goes beyond the realm of what we should be talking about. So, I think you have gone overboard with it. And I would prefer to stick to facts and the statistics as we know them.

GUTFELD: I like this Bob.

(LAUGHTER)

GUTFELD: I miss the old Bob. Bring back the old Bob.

BECKEL: No, I'm not.

BOLLING: One of those eight on the podium last night came up with any one of the suggestions.

BECKEL: We'll talk - we're going to be talking about that when the next block, we're going to be talking about that stimulating debate.

TANTAROS: Rick Santorum wants to cut corporate taxes to zero. He doesn't get a lot of attention.

CROWLEY: Michele Bachmann last night talked about repealing Obamacare.

BECKEL: Coming up, the other big story of the day, last night's GOP presidential debate. We'll have the highlights or the lowlights. If you want my opinion, stay with us.

"The Five" continues next.

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The Five, hosted by Bob Beckel, Eric Bolling, Kimberly Guilfoyle, Greg Gutfeld, Dana Perino, Juan Williams, and Andrea Tantaros, airs on Weekdays at 5PM ET on Fox News Channel.