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.
SEN. TIM KAINE: THE PEOPLE WHO PAY A LITTLE MORE IN TAXES DO A LOT BETTER
Steve Forbes: He must be auditioning to be a comedy writer. It's laughable. If taxes helped, we would have a booming economy. Obama did it. Japan is mired in stagnation because they keep raising taxes. It's evident, you raise taxes, the less production -- people like Tim Kaine or Barack Obama or Hillary Clinton can manage people's money better than the people is another laugh line.
Bruce Japsen: Here's the deal. If we could direct the taxes and revenue toward rebuilding our crumbling infrastructure, then I think the rich would go along with it because their Teslas would hit fewer potholes. The roads and so forth are costing us billions of dollars. If people know they're getting a good value for their tax dollar, I don't think they'll mind much.
John Tamny: Wow. How can people, serious candidates, make such silly statements? An economy is a collection of individuals. Explain how individuals can be made better off and more prosperous if more of their income on an annual basis is confiscated by the federal government. Let's not forget that companies and jobs result from investment. Investment results from disposable income that is not consumed. If you tax away more of the income, there's less investment, less companies, less jobs.
Bill Baldwin: He's got some good points. It certainly does not astound me that Steve Forbes is unenthusiastic about tax increases. Here's the problem, Steve -- people love their entitlement. They don't want to give them up. We can pay for entitlements in cash or run deficits forever and become ever more subservient financially to the frugal and prosperous people of china. You really want that for your future?
Carrie Sheffield: We need households to be more productive. We need more people in the work force. We need more jobs. Bill, you're a wise guy, you need a time-out in the corner. We need job creation. When we tax businesses, we get fewer jobs created. Tim Kaine is Orwellian. If high taxes meant better outcomes for people, Europe would be a paradise. Unfortunately Europeans, if you're a woman in Denmark and move to America, your life will be better off in America. Not to mention the fact that NATO, our European allies, most of them, those countries don't pay their fair share because they can't afford it because of their high taxes. We're subsidizing them. We're richer and pay for more defense because we have so much income because our taxes are lower.
15 GITMO DETAINEES SENT TO UAE; LARGEST NUMBER TRANSFERRED UNDER OBAMA
Steve Forbes: It's going to cost lives. This is just bloody foolish. We know from past experience that 20 percent to 40 percent of prisoners go back to practicing terrorism. We know these remaining prisoners are the hard-core prisoners. The bad, bad ones. To release them, there will be more terrorism, more Americans killed. This is blood on the president's hands. It is inexcusable.
Bruce Japen: I think it costs us in the court of public opinion, and also our enemies use these people being captive -- these people have been held without charge or trial for more than a decade. I think it gives our enemies cover to ignore human rights, and i think that costs us in the long run.
John Tamny: They, they don't. That's my concern. I don't want them released if this is about currying favor with the elite internationally. I think that would be a huge mistake. I'm sympathetic to the idea if this is about saving money and if defense officials believed that transferring them to the emirates will keep us safe but we're not footing the bill, i like the idea. I'll say I’m skeptical. I think this is about currying favor globally, and that concern me.
Bill Baldwin: Throwing open the jailhouse doors now is not a good idea. It's not just because some of these people may return to the fighting. It's because this sends a signal that we're soft on terror. I think the least we could have done was say to the UAE, okay, you can have these people, but you have to give us a $400 million ransom.
Carrie Sheffield: To Bruce’s question on public opinion, the Muslim world by far is very opposed to Islamic terrorism and is opposed to this very extremist mentality. Somehow you think, Bruce, by subsidizing this behavior that's going to help us. The rest of the world despises it including the Muslim world. Muslims are the biggest target of Islamic terrorists. I think you're totally wrong, Bruce.
NY FED RATE HIKE POSSIBLE; FUELS NEW LOOK AT POTENTIAL IMPACT ON ELECTION
Carrie Sheffield: It could, it could create a domestic me to effect where we're having -- essentially we have a real example of this. 2008 With John McCain, the economy tanked, and then boom, his campaign tanked, as well. We could have that with Clinton because she would be seen as basically four more years of Barack Obama who got us into this mess.
Bruce Japsen: Yeah, Barack Obama got us into a huge mess. On the day he took office, January 20th, 2009, the Dow Jones Industrial Average was 7,949. It's almost 19,000 today. 100 percent return. I think that if there is a dip in the stock market, I think Hillary Clinton will survive.
John Tamny: I don't buy that at all. I don't know why we shower the Fed with so much attention. Let's not forget the Fed interacts with the U.S. Banking System. The least dynamic source of credit in the U.S. economy which represents 15 percent, 1-5 percent of total lending. The idea that the Fed changing the interbank borrowing rated through banks would have any impact on the economy defies common sense. That includes the stock market.
Steve Forbes: The bottom line is in terms of the Fed, they can torpedo economies as they showed with the dollar, they admittedly made the dollar scarce. In terms of the October surprise, it would hurt Hillary Clinton profoundly because nobody believes the economy is in good shape, despite her rosy words and Barack Obama’s rosy words. So if you have trouble in the stock market, even though the rate hike may be a trigger, the market's fully valued, due for correction, it will underscore to people things are not right.
Bill Baldwin: Those aren't very good numbers. I don't think a rate hike in September would be a surprise. I don't think it would hurt the economy. The Federal Reserve has been trying to manipulate the price of something. The price of credit. If they stop doing that, that's a good things. Good riddance.
Father’s Day Picks
John Tamny: (BBY)
Bill Baldwin: (SSD)