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Forbes on FOX

Would Sanders in the White House put you in the poor house?

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.

SANDERS' RECENT SURGE IN POLLS SPARKS DEBATE OVER HIS GOVERNMENT SPENDING PLANS


Steve Forbes: Bernie Sanders would make Barack Obama look like Ronald Reagan. It would mean massive new tax increases which would hurt investment, turn an already troubled economy into a severe recession or depression. He'd blow up the global trading system with protectionism and in terms of health care; he would socialize that which would crush new research and development. If you think you have a bad experience with hospitals now with specialists not talking to one another, wait for Bernie to get in charge.

Mark Tatge: He's at least getting people to talk about what we need to talk about and the Republican  candidates want to cut everything -- cut taxes, give the fat cat rich 1 percent even bigger tax cuts. We are not going to cut spending and solve some of the problems we have in our society like infrastructure, like health care, like things relating to our aging population and what we'll do with social security.

Mike Ozanian: Bernie believes he knows better than we do what we should do with our money. But Bernie's plan would really suppress capital formation which is the genesis of economic growth. That's what Barack Obama did. Bernie Sanders would double down on that. If you think the economy is bad under Barack Obama it would be twice as bad under Bernie.  

Carrie Sheffield: It's a disaster. He wants to turn us into the United States of Greece, of Argentina. Fortunately they have a new president to turn things around over there. He wants to turn us into the United States of Italy, which has high youth unemployment. Young people love Bernie Sanders. He sounds amazing, intriguing. When you look at what he wants to do, he wants to destroy Wall Street.

John Tamny: It would be a scary thought and one that would definitely cause a market correction if the American electorate went socialist. The one bid of silver lining in this is -- let's face it -- Bernie Sanders talks big about grandiose ideas to increase spending and raise taxes. He would face a ferocious opposition, not just from the Republican Party but even Democrats scared about the implosion of their own party.

Sabrina Schaffer: When the general election comes. Whoever is the nominee will move more to the center. John hits on an important point which is that trust in government is low. Pew finds only 19 percent of Americans trust government most of the time. That will make a lot of what Bernie Sanders wants to do more difficult. A lot of the things he's going after are because he thinks the government knows best.

SUPREME COURT TO RULE ON PRESIDENT'S EXECUTIVE ACTION ON ILLEGAL IMMIGRATION


Steve Forbes: It hurts the economy because what makes an economy work is the rule of law, in this case embedded in our constitution. When this man tramples on the law and poses regulations that congress won’t pass. He has regulatory agencies do things like wrecking the internet. Those things are harmful and we got to get the rule of law. Rules so that things are done with the consent of the govern instead of an imperial president.


Mark Tatge: Presidents do have the authority to issue executive orders. And Obama has used has used his executive orders less than some other presidents. But the real threat to our economy here is that fact that there’s an uncertainty about this issue. I don’t think it’s clear and that’s why it’s before a supreme court.


Mike Ozanian: With this president, it’s like every driver on the highway has a different speed limit. The same speed limit doesn’t apply to everybody. What that does is it slowdowns investments and that’s what hurts our economy and it’s one of the things that makes it impossible for people to have confidence that when we invest money, that they’re going to have the same rules apply to them that is going to apply to their competitors.


Sabrina Schaffer: The Fifth Circuit has already ruled against President Obama’s power grab in this situation. They said that this is unconstitutional. Something to keep in mind is that executive orders are used but they are not used for sweeping policy change. They are used in times of emergency, during a time of war for instance. We have real challenges when it comes to immigration.


Carrie Sheffield: That’s the problem with assimilation and integration and making these immigrants productive and in the workforce. When you have inconsistent policies as Mike has pointed out, businesses don’t know what to do with hiring and firing, it’s just so inconsistent. You can’t have a president who does thing on a whim against the will of the people in the legislative branch.


John Tamny: I think it’s always good when the power of the presidency is limited. Economically here, Immigrants are generally coming here to work and they’re much more productive. But I’d like to see the presidency more limited.


REPORT: THOUSANDS OF STUDENTS ASK GOVERNMENT TO FORGIVE $164M IN LOAN DEBT

Mike Ozanian: Tax payers are going to have to pay up a lot for this. We saw this coming a mile away or at least as far back in 2010, when the Democrats crushed the private loan market.

Mark Tatge: It goes to the heart of the issue of whether higher education is a right or a privilege. When we bail out people who do we bailout? Do we only bailout Wall Street and the big banks? Or do we also bailout the little guys or the people that are in school? There’s a big issue here and the total amount of debt is about $250 billion. So do we wipe that clean and how do we change it?

John Tamny: This is not the federal government’s money. This is tax payer’s money that the federal government is deciding to potentially excuse. They should excuse it. They should make these people pay back the loans and then they should scrap the student loan program all together.

Carrie Sheffield: It’s going to encourage fewer people to graduate. They’re going to drop out and not graduate on time because it’s other people’s money. It doesn’t matter what scenario it is, it’s the same economic principal of moral hazard. And it’s over a trillion dollars not $250 billion, Mark.

Sabrina Schaffer: it should remind us that the very best way to keep cost low in anything, education, healthcare, and what not. It is to make sure the consumer is the closest person to the person providing the good or service. Here we have the government getting involved and distorting the education market. We need to overhaul the whole system.

Steve Forbes: When the government gets involved there is a critical reason why tuitions have gone through the roof, in terms of trying to help people. They end up hurting them. It should be left to the private sector, not the government. Government makes things more expensive.