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.
WORRIES MOUNT TAX HIKES ON RICH WILL FUND MORE SPENDING
CHARLES PAYNE: Initially in the first part of the administration they tried to take the agenda and wrap economic policy around it but I think the scary part of this is you're right they've dropped the façade it's not about the economy it's about fairness and social justice. The dream of the left since Voltaire Robert Owens utopian. The president said this week the aspirations of Americans go to the middle class I almost fell out of my chair I almost cried. Since Tokfel came to this country the aspirations of every American especially when they are coming up is to be rich. Not to move into the middle class. This is some scary stuff This is a meeting of socialism and capitalism together it has been tried before and it has always failed.
CHARLIE GASPARINO: It is pretty scary. We should talk about the man behind the rules. Not just Obama, Warren Buffet. As we all know its bologna it's not going to produce a lot of revenues it's used clearly for class warfare and for buffet to allow his name to be used in this disgrace well you know I can't remember a conservative republican business man allowing his name to be used as a political prop as this. I don't know why he gets away with it I mean I do know why Buffet gets away with it because the left leaning media allow him to get away with it and it's really gross.
DAGEN MCDOWELL: What makes no sense is this taxes saving and investments in this country when we are a nation of debtors. We want people to do the exact opposite but we are going to tax that. The math is so insane on this the what 46B dollars that it raises for 10 years of spending of 47T dollars. It is 17 days of the president's next decade. 17 days. So this is nothing but imposing the social ideas of our president and the people behind him and that is penalizing the rich in this country.
BEN STEIN: Well at least it's a start. Something has to be done why not start with that 47 billion. 47 billion I agree is not a lot in the context of federal spending but it's a start. We are going to have to raise taxes even more we are going to have to cut spending a lot. We are heading towards national default. That is a very unfortunate place to wind up a neighborhood you don't ever want to be in. You are going to have to raise taxes on the rich a lot more than that and on the middle class. It's going to be drastic.
ADAM LASHINSKY: Where I think we are completely on the wrong track here is to suggest that the administration is not interested in the deficit and is not interested in the debt because that is how Charles framed this they are but not with this provision. In the broad sense I think it is wrong to suggest that the administration is uninterested in the deficit which is what you are suggesting. I think you are right in that they are being truthful about how they feel about this particular provision. Where I disagree with you Charles is we did not get to be a great country with everybody wanting to be rich. We got to be a great country with everybody wanting to be comfortable.
NEW WORRIES OVER SOARING COSTS DUE TO HEALTHCARE LAW
DAGEN MCDOWELL: The worst of all worlds is if the individual mandate gets struck down and the rest of the law stands because insurance companies will be required to insure all comers. Then you won't have young people who are healthy won't be buying the insurance and premiums will sky rocket. There is nothing in this healthcare law as it stands as it's written. It really reduces how much we spend as a nation on healthcare. John McCain on the campaign trail had an idea about changing the way healthcare is taxed in this country that would reduce how much we consume there is nothing that is happening that will do that and we are going to get taxed more to pay for the increases spending.
CHARLIES GASPARINO: I'm not an expert on this law but it does involve some degree of rationing. So at that point don't you consume less?
CHARLES PAYNE: The bottom line is this is something that there should have been some real thoughtful analysis but you have to rip it apart you have to take away the bureaucracy. I don't think there is anything more bureaucratic.
ADAM LASHINSKY: First of all I want to congratulate you on make the case here and why it was a mistake to try and invalidate this law because you're absolutely right. The opponents of this bill have opened up Pandora's Box because the Supreme Court considers constitutional issues not political issues and not matters of you know the facts in this specific legislation. They say is this constitutional on not? I want to point out a very important point because Charlie did something particularly nasty a moment ago all insurance is rationing Charlie. You know that it's what insurance is. So to the extent that there is more insurance in this bill with the mandates costs have the potential to going down.
BEN STEIN: We might very well grew the day. It might be that Mr. Obama will withdraw the whole thing and put in a new policy. The idea of having a 2 percent tax on medical care is almost just unbelievably preposterous I can't think of a more regressive anti health tax than to tax people who want to get in and get medical care. Why would we do that it's the exact opposite of our goal which should be people getting medical care.
HEALTH ADVOCACY GROUP TELLS HOSPITALS TO EVICT MCDONALDS
BEN STEIN: I think this is Bolshevik thought control to try and control what we eat. People don't want to have a happy meal with a giant amount of fat they can have a salad. McDonald's does unbelievably good salads. Why kick them out of hospitals let people make up their own minds, this is America.
ADAM LASHINSKY: This is not a libertarian issue or personal accountability this is about hospitals deciding what they think is healthy in hospitals. Ben there is nothing stopping patients and families from leaving the hospital and going to McDonald's.
CHARLIE GASPARINO: This is poison, we are talking poison. McDonald's is 90 percent poison. Why don't they just sell marijuana at the hospitals? This is what the healthcare advocacy group is saying, this is crappy food don't go there.
DAGEN MCDOWELL: Making a campaign out of 27 McDonald's in this country. There are 27 McDonald's in hospitals in this country. Give me a break if you're worried about the health of America focus on something else.
CHARLES PAYNE: I get nervous when you guys bring up McDonald's that someone is going to crack a joke or something. You can eat the egg mcmuffin, take off one of the buns and it's actually good. We have a choice guys, listen Adam I think it is about personal responsibility. By the way more people die in hospitals from the germs than from a big Mac! If they really care, take care of the germs so when someone goes in for a routine procedure they come out the next day. They are not going to die from a hamburger.
STOCK PICKS
CHARLES PAYNE: TEREX CORP (TEX) Love the upsign
ADAM LASHINSKY: Coca-Cola (KO) looks very good literally it is a low beta stock which means it is not very volatile. Very solid company
BEN STEIN: SPDR S&P 500 (SPY) The other two are great choices but in the long run I think Spider will be better
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox