This is a rush transcript from "The Five," January 5, 2012. This copy may not be in its final form and may be updated.
BRIAN KILMEADE, GUEST CO-HOST: A liberal group called the Courage Campaign is pushing a ballot measure out of California that would force rich people, well, to give more money to the state government. And they're using Kim Kardashian to try to convince people -- sorry, Bob -- it's the right thing to do.
(BEGIN VIDEO CLIP)
KIM KARDASHIAN, REALITY TV STAR: TV has changed my life because you get lots of free stuff.
(END VIDEO CLIP)
KILMEADE: Hey, millionaires, does it convince you to pay a little bit more, maybe 13 percent on your taxes? Do you feel guilty that Kim Kardashian made about $10 million and pays about 10 percent on taxes?
Bob Beckel, do you think that is an effective ad to get people, those horrible millionaires and billionaires, to pay more?
BOB BECKEL, CO-HOST: She is going to pick up her Phi Beta Kappa key, all I got to say.
KILMEADE: I will say this -- this woman made a lot of money in short period of time, Kim Kardashian.
BECKEL: So did Lassie.
KILMEADE: That's true. And Lassie was extremely talented and saved a lot of people.
DANA PERINO, CO-HOST: And they got their starts in totally different way.
KILMEADE: As did Flipper. The $12 million she made in 2010 alone. She's got two or three successful shows.
BECKEL: I'm not talking about this person. It's a waste of time. Why we are talking about this person is beyond my comprehension.
KILMEADE: Andrea, is this an effective way to get people to feel guilty, to get millionaires to feel guilty about not paying as much as people making $45,000?
ANDREA TANTAROS, CO-HOST: I am going to defend Kim Kardashian.
TANTAROS: Because this is just a bunch of baloney. California has progressive tax rate. Kim Kardashian pays 10.3 percent in taxes. Let's say her hair dresser pays -- makes $47,000. She's going to pay 9.3 percent. You're really telling me that Kim Kardashian pays the same amount of money in taxes as her hair dresser?
It's so deceitful. And there's already a millionaire's tax in California. This is all a lie. And they are using poor Kim -- look, I am not one to defend her, but she is not one of these liberals either out there like Alec Baldwin and the others talking about occupy and tax the rich. Leave her alone.
ERIC BOLLING, CO-HOST: I'm going to agree. But I'm not going to say poor Kim. But the point is, and this is the class warfare game that Obama plays. Here is the numbers. Kim pay 10.1 percent tax on $12 million -- $1.2 million, almost $1.3 million she paid. The $47,000 hair dresser paid, what, 4 grand? OK.
BECKEL: I can't believe you're taking this seriously.
BOLLING: No. But the point is, that's 10.1 percent state tax in California, which by the way is supposed to have a balanced budget. But is $25 billion in the hole.
PERINO: I think it's a bigger -- let's put her out of picture for a second.
BECKEL: Thank God.
PERINO: But the overall question whether or not this helps or hurt the cause that President Obama wants, which is that rich people should pay more, I actually think an ad like this hurts that cause, because it puts it in stark contrast to what is fair. And what is -- what is happening in reality in California.
KILMEADE: Well, especially in California. Let's look at Kim Kardashian, for example. I'm sure she's got a cadre of people surrounding her. Yes person, yes man. You need a hairdresser. You need someone to say you look great.
TANTAROS: Or if you're Brian Kilmeade.
KILMEADE: If you're Brian Kilmeade, it's very similar. That's how I know.
And you take a portion of that, those people need benefits. They need dental and they have a co-pay.
If that's a woman that employs, we need more Kim Kardashians. The world would be a better place.
BECKEL: Let me ask you this. Do you not think the millionaires should pay more in taxes?
TANTAROS: They do. That is the point.
BECKEL: Not --
BOLLING: Look, Kim Kardashian $1.3 million. The hair dresser $4,700. She is clearly paying more. A lot more.
BECKEL: Good. Good.
BECKEL: Why does this table have this affection for millionaires? What I want to know --
KILMEADE: Millionaires hire us. They buy buildings.
BECKEL: Oh, millionaires hire us.
TANTAROS: It's not about Kardashian. She is a ploy to get attention for this. It's not about her.
It's about -- you know, it's about the deceit that the left uses.
BECKEL: The deceit that the 99 percent use against the 1 percent.
KILMEADE: Bob, it is about her. OK? Andrea, please.
TANTAROS: It's always.
KILMEADE: By the way, I talk to Bruce Jenner, who's her stepfather and said he's never met anyone with as much business sense and savvy as his daughter Kim. And Bruce Jenner won the decathlon and in good shape. He did have some surgery.
TANTAROS: He is the only one in that family that has really done is of worth.
PERINO: Yes. He was on the Wheaties box.
KILMEADE: Right. It's true.
Hey, listen, the Jesse Waters video, this is extremely important. This guy went out on New Year's Eve and he asked people of America located in New York, who is going to be the next president? It's fascinating. Watch.
(BEGIN VIDEO CLIP)
JESSE WATERS: Who do you think the president is going to be?
UNIDENTIFIED MALE: Hopefully not Obama.
UNIDENTIFIED MALE: Oh, we love President Obama.
UNIDENTIFIED MALE: Yes.
UNIDENTIFIED MALE: Ron Paul. He's a good guy.
UNIDENTIFIED MALE: Mitt Romney is looking really strong. You know what I mean?
UNIDENTIFIED FEMALE: I think he is a kind of pompous ass.
WATERS: Mitt Romney, have you heard of him?
UNIDENTIFIED FEMALE: No.
WATERS: What about Michele Bachmann?
UNIDENTIFIED FEMALE: No.
WATERS: Rick Perry?
UNIDENTIFIED FEMALE: Sounds familiar.
UNIDENTIFIED MALE: I can't think of a name right now.
WATERS: How about Rick?
UNIDENTIFIED MALE: Rick Cheney?
(END VIDEO CLIP)
KILMEADE: So, there you go. I feel better about our country. It seems as though we're the only one paying attention. That's why it's "The Five" because nobody is asking question.
TANTAROS: At least they didn't say Rick James. Then I'd really be worried.
I'm so worried about our country based on that video. Jesse always has videos that scare me. They make me laugh and then they scare me.
BECKEL: You know, one place I'd want to go to get a representative sample of the intellect of America would be Times Square.
BOLLING: Most of the people he interviewed, if they asked some Republicans or Democrat, the Democrat -- if they asked most of the people Republicans or Democrat, Democrat.
BECKEL: Why would you say that?
BOLLING: I'm just guessing.
PERINO: Because of the intellect issue?
BECKEL: Were you out there in New Year's Eve in Times Square?
BOLLING: I was in intensive care unit with my son.
TANTAROS: What were you doing? Were you with your Russian friend?
BECKEL: I had -- I was doing international diplomacy.
TANTAROS: With the exchange student? How nice of you.
KILMEADE: You're resetting a relationship. And hit the reset button.
PERINO: It might be more successful than Obama's attempt.
KILMEADE: Thank you. And don't take down her missile defense. If you know what I'm saying.
PERINO: All right!
KILMEADE: Seventeen minutes before the top of the hour.
PERINO: Can't say that on "Fox & Friends."
KILMEADE: As far as I know, I can't even say it here.
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