So the president himself said to raise the tax burden on the rich, now he wants 1. 6 trillion dollars in taxes, but double what he wanted earlier this year and we hear that schumer wants even more. You see where this is going . And now wantso include cuts agreed to last year to count the same as cuts this year. And i think they call that double accounting, double booking, using two books or booking yourself, i dont know, but it is confusing, double this. And democrats say election consequences they do, but dont give the winners their own set of facts. For the life of me i couldnt find a single exit poll on this network or any network that said more spending and more stimulating. I did hear something more worrying, deficits that keep getting worse and a washington that just doesnt work. I will give the president his due, he might have gotten a nod on going after the rich, but i do not think he got a pass on running rough shod over everybody else. To ben stein,harles payne, Dagen Mcdowell along with Adam Lashinsky and charlie gasperino. Charles, what do you think. Spending, spending, spending, for me its like well cut to the chase, lets just take it all away and collapse this thing. Its nuts. It really is nuts. Now what bothers me we keep talking about the rich and its 250,000, its not rich people, its small businesses, its already a disaster as it is, but to have the nerve to come out and say, hey, lets stimulate again and create a few temporary jobs and lets do deficit spending, its working out. Boggles the mind. Ben stein, that struck me, im not surprised at the president and argue na people did other choices in the president ial election, with the president s vision and mitt romneys vision and part of that romney with the idea to leave the rich alone and integral to the president lets not do that, got elected. You could make an argument that taxes going up on the rich and so be it, but this other stuff with the new spending, new stimulus, new jobs measures, i dont think that was part of the election . Well, absolutely impossible. Completely impossible to say what, that an issue like fiscal policy won the electio for mr. Obama. Thats just the most amazing nonsense ive ever heardn my life. But, also, the whole point of the fiscal cliff is it to reduce the deficit. Now, youre going to say, were going to add a deficit . In that case, lets leave taxes low, lets keep spending high, i mean, the whole idea is weve got to stop this out of control deficit, this out of control debt. What senator schumer is proposing is exactly the wrong idea. And now entitlements leave them alone and dagen, go on and on and on. The argument we need to stimulate growth. Youll hurt growth if you raise taxes and it gets back to what weve seen all along, we will raise your taxes cause we, the government, and the lawmakers, can spend your money better than you can spend it yourself, because they know better. It doesnt make any sense. Its upside down, backwards, like spinning around and around logic and thats the way they think. I dont see much progress here then. And i see, chaie gasperino, when all is said and done, that if the markets dont sell off on the lack after deal they sell off more on this kind of a deal. What we should point out. When mitt romney had a bright, shining moment during the first debate what he did best was show that president obamas economic incoherency, think about what theyre doing, theyre sayin were going to tax small businesses, people that make money, people that might way make money and spend it so other people can make money. And then now what were going to do . Were going to do stimulus stuff on the eyed, its irrational and the markets hate this deal so far, they hate everything thats and we dont have a deal yet. They hate everything thats coming out. Adam, if you a couple of points. If you deny that you adam, what do you think of that. Maybe a needle sticking out of people. And a couple of points, first of all, were being a little too glib in equating Charles Schumer with president obama. President obama has not called for new stimulus spending. By the way, no, to be fair, schumer isnt alone in the senate. Now . There are a number, 30 who will sign on to this leave the entitlemes alone and nancy pelosi in the house said much the same. Theyre putting and knocking a lot off the table. So you wont like this, but two separate issues. Stimulus spending on one hand, the president hasnt called for it. Leave entitlement spending alone, again, not the central argument that the president has been making, he has already indicated that he is willing to look at entitlement spending and he is willing to compromise on that. The details and charlie, by the way, here is where you canteally believe him. Hes made specific recommendations on taxes, its all laid out there, you know, dividends, you know, upper brackets. Hes not made one specific recommendation on entitlement cuts, so because thats not his primary position, he has indicated hes willing, and thats right, he doesnt want to do that. Charlie. What do you make of that, thats not on t agenda . And hes not submitted a budget in three and a half years period, and hes extreme tli vague, one idea which is correct. Tax the rich more, but the rest of it is all just fog, smoke and mirrors. You know, charles payne, i understand the area for election, there are consequences, im not a big fan of raising taxes, i think thats going to happen. Raise tax on the rich and i dont support it to all of dagens points and charlie gasperinos all of the above and you can make a point thats part of what the American People voted for, because polls have some want us to, with the rich. I find its a leap then to say you cant and are not going to attempt to rein in some of this spending that was a very big worry on the part of americans, because that sets up charlie. The really arrogant negotiating. Charlie is 100 right. Ive got to tell you, everyonee keeps saying the president is talking about compromise. This is what i hear. Hey, republicans, you can have, youre going to have taxes on the rich, and were going to cut defense spending or you can have taxes on the rich and well cut defense spending, which do you want . Thats what and that i have a mandate to do this. Here is the mandate. Won 50 of the vote and the house remained republican, thats called divided government he doesnt have a mandate for compromise. Ben, i think you made the best point of the show so far. Whoa, whoa, whoa, we all made points uyoure giving him i think that neil made the best point, charles. The election doesnt mean that the president necsarily wants us to go out and tax them to death. A whole lot about the election that we get into later. Neil and exit polls are at fox and ill enlighten you. And i think, actually karl rove did that, so might have to did the exit polls want us to go back into recession . Because thats what did . And its clear, maybe thats it, dagen, maybee kept things kind of the same, right . So maybe they just like this sort of people, i dont think the markets think its the same. Youve seen the selloff in the stock market and you know with whats been on fire, infuego, people have been buying the garbage of the garbage of the bonds because people believe their taxes are going up. Neil and great, dagen, municipal bonds, that should lock up the nielsens. And how this could affect commodity futures. Im kidding, dagen, youre a genius. Now jumping off the cliff and jumping ship literally. Forget taxes headed higher. As we head off the cliff, the forbes gang says u. S. Stocks will be headed overseas. And some of the people helping, theyre staying here. And people want more green . Are you seeing red . Copd makes it hard to breathe, but with advair, im breathing better. So now i can be in the scene. Advair is clinically proven to help significantly improve lung function. Unlike most copd medications, advair contains both an antiinflammatory and a longacting bronchodilator working together to help improve your lung function all day. Advair wont replace fastacting inhalers for sudden symptoms and should not be used more than twice a day. Pele with copd taking advair may have a higher chance of pneumonia. Advair may increase your risk of osteoporosis and some eye problems. Tell your doctor if you have a heart condition or high Blood Pressure before taking advair. If youre still having difficulty breathing, ask your doctor if including advair could help improve your lung function. Get your first full prescription free and save on refills at advaircopd. Com. Loved ones. Ill send you back now to cavuto on business. Im jamie colby. Keep it on fox. Neil do you think the victims of sandy are fuming at fema now, with the cash dwindling theyre prepared to ask for at taxpayer funded bailout and reportshat fema and red cross workers in new york were shacking up in the swanky Soho Grand Hotel in manhattan. At least theyre getting a discount rate. 310 a night. The red cross footing the tab at 181,000 for their workers and charles doesnt like any of this. And my point on this, i tend to think they got us a bit too much bad press for this, they have to stay somewhere, but i have a problem with it when its at the expense of folks who are affected by this. Dave right of course now theyre talking about a bailout for fema, a bailout after katrina and never paid that back and whatever, 16 billion, the post office lost 16 billion. Federal housing administration. Neil 16 billion. Thats a common thing, 16 billion, 16 billion, the number later on. A combination. Neil and after 16, after 16. And listen, of course, they have to find places to stay, it was pretty tight, but it doesnt feel right. I use today stay at the soho grand and when i had more money before the first stock market crash and a very nice place. Neil adam, you clearly feel guilty well, because in fact, i stayed at the soho grand last month and i have tsay, i didnt think it was that plush, neil, actually and of course they have plush . Thats a great place, man. And compared so the some of the other hotels at midtown. And hilton gardens inns and marriott residence inns and were piling on fema which of course has problems and needs to be improved. And this is fun. Its a beautiful picture of the hotel. Neil you know, it does come at a time theyre asking for more money, ben stein and theyre not up to snuff handling this. Folks in Staten Island are still waiting for help and emergency centers, Relief Centers set up after the storm and shut down ahea of the noreaster, they didnt want to endanger workers, i understand all of that, but it just raises this issue, then what the hell are you doing there, if your job is contingent on the weather. If george bush was in president when this happened and people in new york without power two weeks after the disaster, sorry, theyd be screaming to lynch him. The media has totally bailed on this and totally favoring mr. Obama on this, clearly fema didnt do the job right, but okay if they stay at 300 aight hotels pennies with what we spent altogether and if they need more money, they need more money, but clearly they were not up to the job. They had quite a bit of warning about this, they didnt stock pile supplies, they didnt stock pile fooled. There is something drastically wrong why are they staying in manhattan. Because is the cool place to stay. Thats what im saying, Lower Manhattan and the damage. That doesnt mean they didnt have any room. Sounds like they didnt have any room at the inn kind of deal, but didnt have any room at stateisland. And theres a borough called queens and another one called the bronx that you might be able to stay in. I guarantee theres hotels there. And this is why it just, it reeks. And listen, for all i know they checked every hotel in the bronx, in yonkers, in the surrounding, in the surrounding areas and they found that they were sold out, i doubt it. And then they stayed at the soho grand, by the way, adam, the soho grand is an amazing place. No its not. Oh, its great. By the way, its beyond the soho grand, this is about the financial mismanagement of government agency. Its about the financial mismanagement of the National FloodInsurance Program where people in this country get to buy insurance at below market rates thats subsidized by the american taxpayer and when a storm hits, then they have to go to the treasury department, theyre going to run out of the Borrowing Limit after this storm, the Flood Insurance program, and again, but we as a nation have let this go on and on and on and even people within government know the Flood Insurance program is completely mismanaged and doesnt have accurate maps. Theyre generous and they think with their hearts first and then their heads after that and think well, give them more ney, more money. You sound heartless if you say the opposite, right, charles. You sound heartless if you say the opposite, but dont sound heartless if yousay i stayed at the algonquin. And when you say grand twinkies are now toast, thats because hostess is now going out of business after a showdown with Striking Union workerses and people are already pushing the panic button and going underground for their goodie laughter there he is. No more twinkies. Hey. A twinkie . Iv got a guy in cleveland [ engine revs ] [ male announcer ] the mercedesbenz winter event is back, with the perfect vehicle thats just right for you, no matter which list youre on. [ santa ] ho, ho, ho, ho [ male announcer ] lease a 2013 c250 for 349 a month at your local mercedesbenz dealer. Well, call ithe hostess without the mostest. The icoc maker of twinkies and dingdongs shutting for food after Union Workers voted down a plan to not shut down the company, and 18,000 jobs. Im not a fan of twinkies, legalized poison. Its in my food pyramid. Remember that, remember that john belushi skit, little hocolate donuts. Anyway, listen, i dont like people who i dont want people to lose their jobs and take, and who have lost jobs to take this the wrong way, its a cautionary tale, you push too hard onhe companies, you end up like the automakers, unless you get bailed out. Twinkies is not going to get bailed out. And its a private sector union. I agree, charlie mentioned the auto workers, there were times when unions did amazing things, made the work place better and they got wages. Got to push too hard. And now, they put their interests ahead of customers and shareholders. And themselves. And the teamsters, even the teamsters upset that the smaller bakers union would not try to by the way, hey, since theyre grinches, and theyre oh, taking they also make yodels, bucko, great, great and baked by hostess, so and this is in horrible shape, and did you smash these. The last two in the vending machine. You know who sold them to me, andrew white, the guy in the video. Pay 75 for these. Ben stein, what does it mean now . Obviously, you know, someone will try to scoop up its a wellknown brand name, maybe try to make a go of it in a different life, but theyre still planning a very rich sugary foods out there and i have to say im not as thin or fit as charlie, but i happen to love them and i love sugar altogether. But, the unions are just too aggressive in cases like this. What could their possible rational be for putting their own members out of a job. How do you explain to a man or woman who cant feed his or her family hey i put you out after job to demand more money for a job you dont have any more. How do you explain that. Neil adam. This is a gross oversimp oversimplification of another issue. There were other problems at hostess, other than not reaching an agreement with the union. I finally remembered dingdongs from my childhood and i havent eaten one in a very long time and i wouldnt feed one to my daughter. Neil a long time, last week. Thats the problem here. And youre unamerican if you dont eat im going to eat one of these, ill eat a cannoli instead. Shut up. In tactffact my thanks to charl and dagen, two thin obnoxious people. The hush before the rush, less than a week to the busiest [ abdulrashid ] ive been working since i was about 16. You know, one job or the other. The moment i could access the retirement plan, i just became firm about it you know, its like it just hits you fast. You know, you start thinking about whats really important here. Governor of getting it done. You know how to dance. With a deadline. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. This is awesome. [ male announcer ] yes, it is, business pro. Yes, it is. Go national. Go like a pro. Ed. Early holiday shopping, stocks on sale. I like nike. Earlier this week, foot locker and dicks had good numbers. Cheap enough to buy. Adam, would run to that one is this. No. I love nike, although im an asics shoe runner. I dont think its that cheap of the though i like the company. What are you doing then . Cisco, the tech giant is super cheap, less than 12 times trailing earnings. Not a great business, but it will be a good value. What do you think of that, ben . There is hardly any better run company in the company than cisco. I think hes right on the money. But what he knows if the market doesnt know is bit of a mystery to me. What are you doing these days is this. Just my usual. The broadest possible index. Bti and im very, very happy if i can keep up with the market. Im a happy guy. What do you think of thnext few weeks of the market, ben . I think it will be a choppy time. But the day before they reach a deal on the fiscal cliff, the market will correct to the upsigned and it will be great stuff. Well wat