This is a rush transcript from "The Five," June 29, 2012. This copy may not be in its final form and may be updated.
GREG GUTFELD, CO-HOST: So, this is a great week if you love free stuff, because get this -- we just got more free stuff. Well, it's not really free stuff. It's pretend free stuff. As long as you don't think about Greece or Stockton, there's just no downside to free stuff. No one pays for it, right?
So it's why a big victory for President Obama and a big victory for this. The Blob The enemy of competition as always is blogs. The country moved, albeit slowly, away from the only engine that makes great stuff cheaply. Government, the blob in the classic film of the same name can only do one thing: grow.
Who pays for it? You do. Sometimes with your life.
Look to Europe, to support an entitlement culture, you must cut everything else. Rationing starts, long lines get longer and people grow.
The blob gets blobbier.
So, we're out of time and you have to ask, do you accept the nature of the beast? Come November that is your call. You can fight the blob or join the blob. But there's one thing you can't do, pretend the blob won't cost you.
Notice I said, "blob" and not "Bob."
ANDREA TANTAROS, CO-HOST: I was waiting for you to slip.
Let me ask you, Andrea, isn't it hard to argue these days against big government? Because you're arguing against an illusion of free stuff.
People just --
TANTAROS: They love free stuff.
GUTFELD: They love free stuff. I see celebrities run for goodie bags who made millions a year, because in the goodie bag, there's free stuff.
TANTAROS: Everybody loves free stuff. But they're not telling you is you're eventually going to have to pay for that free stuff.
And, you know, the Medicaid portion, which we have been talking about a lot, that the justices struck down, you know, if the states opt-out of Medicaid, all of those patients, Greg, are going to be jumped in the exchanges. That means they're going to get huge and they're going to get costly. So, not only do we pay for all these new people into the system, these exchanges are going to be enormously and massively shifted to the federal balance sheet -- another cost. And we all have to pay for it.
GUTFELD: Bob, I always consider you an expert in the eternal debate between short-term pleasure and long-term benefit. Every choice you make in life is for short-term pleasure. But later in life, you end up paying for it.
BOB BECKEL, CO-HOST: Well, that's what happens with alcohol and drugs.
KIMBERLY GUILFOYLE, CO-HOST: This is terrible. Is this an intervention?
BECKEL: I know, I've already had 15 interventions and --
GUTFELD: But isn't that the problem? Entitlement is a short term pleasure.
BECKEL: No. First of all, let's try to get something straight. Let me say it was a wonderful day for America yesterday. I'm sorry you are all so upset.
But entitlements, Social Security and Medicare, you pay for it. It comes out of your paycheck. It's not pay-for by the federal government, right? And secondly, Medicaid is, that's true, for poor people. If you want to take food off poor people's table, and not take care of poor children, that's fine. That's what you want to be, typical Republican.
GUTFELD: I hate poor people. You're right.
BECKEL: I understand that.
GUTFELD: I go out in the street, Bob, and look for poor people to steal their food.
BECKEL: The difference between us and Europe -- and we keep making comparison with Greece, which is half the size of Rhode Island. And only the good Greeks came here like Andrea. The rest of the bums stayed over there.
BOLLING: Great day for America.
TANTAROS: Social Security, you say we are paying in to it? The government is spending all the money that we're paying.
BECKEL: That's a different argument. But they -- we do pay for Social Security. People do.
BOLLING: Here is something we didn't pay for --
BECKEL: Tanning beds.
BOLLING: -- prior to the -- fine, tanning beds, ha, ha, ha. (INAUDIBLE) tax, ha, ha, ha. It's also in there, charitable hospital tax is also in there.
But this one starts next year, 3.8 percent surtax on investment for households over 200 -- you're taxing people at 4 percent windfall profit tax. What an anti-business tax that is.
Here is one that will drive you absolutely crazy, if you didn't know about it. The year after 2014, there's another payroll, mandate excise tax exemptions. Listen to this. Did you know this? Exemptions -- religious objectors, undocumented immigrants and prisoners are excepted from that one.
BECKEL: That gets me out of --
BOLLING: Are you kidding me? Are you kidding me?
BECKEL: I get a surtax for people over $250,000 doesn't bother me. It should be bigger.
GUTFELD: You know what we really love, we love montages. Since we're talking about taxes, I think it serves to go back and see what President Obama had to say about healthcare and whether or not it was a tax.
(BEGIN VIDEO CLIP)
PRESIDENT BARACK OBAMA: The last thing we should do is raise taxes on the middle class. You will not see your taxes increase one single dime.
You will not see your taxes increase a single dime. I repeat. Not one single dime.
(END VIDEO CLIP)
GUTFELD: K.G., is this his "read my lips" moment? Is this going to be the thing that haunts anymore in November?
GUILFOYLE: Look, there is so much tape of this, of him say, no new taxes. And this isn't going to increase your taxes -- which is a flat-out lie. Sorry, there's not a nicer way to say it. I could send him a Hallmark card and, hey, you got a loose relationship with the truth.
But this is going to be a big tax increase on the middle class.
BECKEL: I don't want to say anything about a lie directed to my friend Greg here. But he said this is about Obamacare. He was talking about rates -- income tax rates. He was not talking about Obamacare.
TANTAROS: But he has said when he's been asked by George Stephanopoulos if it's a tax. He said in numerous interviews Bob when asked if the mandate is a tax, that it's not.
BECKEL: It's not a tax.
GUILFOYLE: It is a tax.
BOLLING: Bob, there are 21 new taxes in this law, 21, $675 billion over the 10 years.
BECKEL: Well, you know, the idea of taxing people with income over $250,000 for more --
BOLLING: But they're new tax -- the point is --
GUILFOYLE: So, it is a tax.
BECKEL: So, I accept that, but tanning beds? I think that's important thing. We should not tax those.
GUTFELD: This is an attack on Snooki. Let's be frank about this. These tanning beds, when you tax them, you're taxing an American hero.
GUILFOYLE: And Bolling.
GUTFELD: Taxing an American hero. Every now and then you get something from the web, you get it from 10 to 15 people, because to everybody, it's sums up exactly how you feel. And it sums up the moment from yesterday about discovering that this is a tax.
Show this picture. This is -- and you can read the caption, it's not a tax.
I don't know where this came from. But I think I received it 40 times. And I think what this does, doesn't this speak, Bob, to the way people look at Obama? He pulled one over on America.
BECKEL: It's funny to me that I never heard this thing about taxes from any of you when we talk about Obamacare.
GUTFELD: He said it wasn't a tax.
BOLLING: You said it. Bob, the bill turned law is this high. It's 2,500 pages.
BECKEL: I know.
BOLLING: And Pelosi said, pass it first --
GUILFOYLE: And then we'll read it.
GUTFELD: I want to point out, this is not actually -- they're not really laughing about it. Just so I don't get angry letters.
TANTAROS: They are celebrating at the White House, I'm sure, Bob.
BECKEL: Of course, they should be celebrating. We are going to get people who are not insured insured.
TANTAROS: Bob, when you crunch the numbers, a lot this would disproportionately, you know, affect the middle class. A lot of upper class are just going to opt not the pay the tax. They're not going to get insured.
BECKEL: I mean, they're not going to get to silly yachts.
TANTAROS: I think a lot of people are going to say, what's the motivation for me to actually get a high insurance premium when I could just pay the tax?
BECKEL: Fine, let them get it.
TANTAROS: But the middle class don't have the money like rich.
BECKEL: The middle class is not going to be hurt by this one iota.
BOLLING: Excise tax on charitable hospitals. Excise tax on charitable -- how do you justify this?
BECKEL: What do you mean how you justify it? Hospitals are making a lot of money. Even charitable hospitals are making a lot of money.
BOLLING: By the way, your tanning bed tax is on page 2397.
BECKEL: I knew you would go to that right away.
GUILFOYLE: It didn't distract him for very long.
BECKEL: As Andrea said, he'll do spray tanning.
Look, yesterday, you guys were all -- you know, the problem is you're all sour grapes about this. Why don't we stop and say we've not got the law, it's in, let's get over it?
GUTFELD: I would love for to us get over it. But nobody is going to get over it.
BECKEL: Well, good, don't get over it.
GUTFELD: He may not have to get over it because it may have galvanized the right, Kimberly.
GUILFOYLE: Four million dollars already since they went ahead and said it was constitutional. Mitt Romney already got that money. Go ahead, see what happens.
BOLLING: Can I point something out? You know what you said yesterday after the Holder vote?
BOLLING: Let's just get over it and move on. You just want to get over everything and move on, don't you?
BECKEL: This one is going to have an importance for a long term on the United States. The Holder thing is not going to be an importance.
TANTAROS: Bob, you also lectured all of us earlier this week not to gloat if the mandate was struck down.
GUILFOYLE: Remember that?
BECKEL: No, I was saying what John Boehner said. I said what Boehner said. And you think I gloated now? Wait until I get to my segment. I'm really going to gloat then.
GUTFELD: That's when we turn the sound off, Bob. We're not even running that segment. We're running four minutes of cute puppies frolicking and we're not going to tell you until we get home.
GUILFOYLE: Yes. Good luck.
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