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Detailed text transcripts for TV channel - FOXNEWS - 20100626:15:45:00

Maybe that s why they are trying to like not give us the budget. it s a point. all due respect, i don t care what the cab driver is nervous or not. that s not the point. christian is right about one thing. is the fact is they push it off. the budget doesn t mean anything. they don t care. a budget is to be exceeded. they ve never had a budget yet they ve lived up to much the budget is a farce. it s a farcical thing the congress goes through to present to the people to fool them. that s all it is. it has nothing to do with anything else. financially, reform as far as the budget goes and all of those sort of things, listen, there is only 25% of the budget is discretionary anyway. the rest is given away in entitlements. half of it is going to social security and medicare. they can t do anything with it anyway and then you have the interest on the budget that s also increasing it so there is no way that you can possibly do this. ok. wait. to jonathan s point, the deficit now is talke ....

Christian Dorcy , Cab Driver , The Budget Doesnt Mean Anything , They Dont Care , Social Security , Anything Else , Kitchen Table ,

Detailed text transcripts for TV channel - FOXNEWS - 20100626:15:43:00

They see that the democrats believe free market is destructive and government spending is the only means to create wealth and i think to your point, tracy, rightfully, it s scaring them about making serious investments not only on in this market but in this economy. it s why they re hoarding gold. they re diving into u.s. government bonds. they have to think we re more table than other countries, right? commoner class? you re talking about people who are big investors. big investors have faith in the u.s. government right now because of our policy relative to foreign government. but it is not a way to run the economy. this is a lovely investor class debate but christian, you re shaking your hand no. on the scale of 1 to 10, one being no deal and 10 being a big deal. this is a negative five. they have failed to pass the budget. and the republic still stands. this is clearly not something that concerns consumers or investors. it s not a huge deal. do people know there s a deficit ....

Free Market , Government Spending , Commoner Class , Christian Dorcy , Class Debate ,

Detailed text transcripts for TV channel - FOXNEWS - 20100626:15:33:00

the cbo report, granted it s for 2007 but the fact that most americans are not paying any income tax at the end of the day shows the imbalance. what if everybody pays a little bit? we re out of debt in this country. not at all, i mean, certainly, people are paying taxes. it s just not that they have a federal income tax burden. when you factor in local taxes as well as the state taxes, you find that the poorest 90% are paying almost the same share of income taxes, total taxes as the upper 1%. so clearly, they re taxed at a higher rate and just because they re not paying federal income tax doesn t mean they have no tax burden. jonathan? well, first, for one thing, christian, they re nowhere near as productive. you get freebies back to people who aren t tremendously productive to society and every opportunity, of course, tear down the most productive people. the people who produce for a living. you want to have a flat tax, great, let s have a flat tax. give everybody the same tax ....

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Detailed text transcripts for TV channel - FOXNEWS - 20100626:15:47:00

The bottom line is we have to fix long-term things to wayne s point, social security, those could be dealt with. that would make investors happy. right now, investors are happy relative in our country, relative to other countries. u.s. dollar is strong. mortgage bonds are strong. the market is beating other markets. you can t complain about that. christian, last word. single greatest clue into investor confidence is the bond market and right now, america is the safest and best bet in the world and whether or not congress passes a budget this year, that s not gonna change. this is not what people are concerned about. they want to know how we re gonna deal with this stuff long term and congress has to address that. but the annual budget for 2011 not a big deal at all. all right. thanks to everybody. long term. remember when prisoners got all that stimulus cash? well, now they re getting home buyer tax credits. you ll want to lock them up and throw away the key, not the prisoner ....

Wayne Rogers , Social Security , Bottom Line , Mortgage Bonds , Us Dollar , Christian Dorcy , Clue Into Investor Confidence , Bond Market , Gonna Change , Home Buyer Tax Credits , Stimulus Cash ,

Detailed text transcripts for TV channel - FOXNEWS - 20100626:15:54:00

but because the local tax base is for the taxes. jonathan? it s always good to extend this credit. this is an investment, not a credit. you don t see that as being the same type of intervention that caused the boom to bust in the first place? fannie, freddie railed against. the community investment act you railed against. all these programs designed to boost up housing, at the tracing point, just prolonged the crisis. i mean, we don t want prices to be high. we want them to be accurate and you don t get that feeling from renters and savers home buyers. my friend hold on. jonathan, this is not fha and this is not the this is not a government organization doing this. this is individuals taking a credit when they do it. this is not some government regulatory agency who is spending the money for gosh sakes. hold on, christian. i want to bring in christian on this. 34 of the people that scammed the system were i.r. s. employees who already owned homes. that s more ....

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