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tv   Your World With Neil Cavuto  FOX News  April 11, 2013 1:00pm-2:00pm PDT

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and then everybody in every corporation would be worth so much more. but 4:00 means it's time for your world. ' -- >> neil: now we know, we are all fat cats because it's not just the rich getting stuck by higher taxes. enough they have company. us. welcome everybody. glad to have you. do any of you remember this? >> if you make under $250,000, you will not see your taxes increase by a single dime. not your income tax, not your payroll tax, not your capital gains tax. not any tax. you won't see your taxes increase one single dime. >> one single dime. >> the middle class doesn't need a tax hike. >> well, yeah, that was then.
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fox on top of a tax hit over the top, actually, way -- well, under the top. because if you make less than 250 grand, let's just say life with the taxman won't be grand anymore. you could get slammed badly. especially if you're a smoker. you're looking at a tax on a pack of cigarettes almost doubling to two bucks, or let's say you're a flyer. try $18 billion in new fees to pay for aviation security. or let's say you are a saver. 59 billion bucks in taxes on banks and brokerage firms and life insurance companies that will be passed only to you via higher fees and charges. or if you are, i don't know, drive,let 94 million bucks in energy taxes that will work their way to you at the pump. or if you're just hanging out at home. the utility nil the mail becomes. more than a trillion dollars in
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new tacks. republicans saying the president lost his mind. the new york democratic congress says the president found his anybody. good to have you. >> good to be back with you. >> those are lot of tacks, congressmen. >> well, there's a lot of debt that we have and a lot of sacrifices have to be made, and i think it's just the american thing to believe, that if we all chip in we all take a hit, we all make some sacrifices, that we'll come out of this okay. >> neil: when i heard the president and leading democrats saying it would only be the 250,000 and over crowd taking the tax hit, was dumb enough to believe them. >> well, obviously you and the above 200,000 group. the truth -- >> haas i just cited were taxes that would affect below that group. >> we're talking bat whole new
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ball of wax. we're talking about trying to get something with the republicans that would cut back with spending and get rid of the sequestration. you can't do this. you cannot do this if you just concentrate on cutting. if we have to raise revenue, even if you were just talking about income tax reform, if you were talking about getting rid of loopholes, you have to raise revenues to do it. this whole idea that a time when our corporations are making record profits, to start these -- the stock market is soaring and we have more people in poverty now than we have ever had. we have to come together on is? you know it. >> neil: congressman, the president was saying yesterday something like, well, the rich have to pay their fair share. are they close to that point now? should they pay still more? when do they pay their fair
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share. >> let me tell you this. i have never heard a complaint with the successful businessmen we have in this country, not new york, and not in washington. i don't know what -- >> neil: who are you talking to people on mars? i hear them all the time. they feel like they're getting taxed if the -- >> don't think that's the prevalent view of wealthy people in this country. >> neil: what wealthy people're talking to? >> those that we were talking about in the to one and the top two percent. >> neil: in your district, the ones who are in that $250,000 crowd, now we know with these increases -- smokers who original 40,000s a year on average, their tacks are going to double on a pack of cigarettes. >> you know -- >> neil: i'm just asking you. did you talk to these people? >> you are very optimistic in
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believing the republicans are going to allow to us debate the president's budget. i hope you're right. but i don't think i'll be coming back saying the tacks on cigarette smoking is too high but it's something we should discuss. if not cigarettes, then what? >> at least you're saying something and the white house and many of head of your part have nod said, we have to broaden the pool to pay for this stuff, and it would include smokers, ostensibly, earning as little as $40,000 a year. would include more folks in the $150,000 a year who get the higher fees. pays higher gas taxes and utility bills. you're saying this is all for the common good. >> what i'm saying is we haven't had a chance to get from the republicans, not that it have a problem with the president's bill, but are they going to give it a chance to be heard, to be
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discussed so we have a senate bill that they can tear apart, a president's bill, and then just take a look at their bill. there's no equity. there's no fairness not what they're talking about. all they're talking about is cutting -- >> and all you're talking about is taxing. >> well, you ask any economist during their time that we're pulling out of recession, whether laying people off is going to help at all for us to have economic growth. >> neil: you tell me how raising tacks on anybody in the middle of the said recession is going to happen? >> what is better is having people involve in education, research, development, improvement of our infrastructure, to be a first-class nation -- >> neil: you're investing money we don't have and you're assuming the money will be there. but history suggests the more
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you've hit them up, the fewer of them you have, and the fewer dormrooms you get. >> there is no option to say, america does not have enough money to have an infrastructure capable of having us allege an international trader and number one. there's no way to explain to the american people why we don't have enough money to develop the scientists and the people that we need in order to keep our research and development at the highest. >> neil: that assumes the money you're giving for those purposes, congressman, meets those ends. right? >> well, you bet your life it's got to meet those ends and create jobs and create revenue and we are able to reduce the deficit. but if you take a look at the options the republicans have, it really doesn't make sense to say america is going to stand still, not raise revenue, and just cut the social programs that people
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are living on. that makes no sense. in the event we got three different budgets. and i'm glad that we are going to have some exchange on this, and i do hope that the american people allow themselves to be heard. especially our do-gooders and all of those people. today i asked the secretary of treasury, where was the big businesses and what were they thinking about this program where we have the taxes, and he said that big business was behind the president. he said that to us this morning -- >> neil: i don't know where you're going or what churches you're going to but i heard the lord's name being used but not the way you're reflecting it. congressman, always good having you. thank you very much. >> good having you. >> neil: is wall street watching this? looking at the dow and the s&p raising to new highs, doesn't seem that worried. bernie is following it closely. he says, well, it should be
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worry evidence by what is going on here. beie, -- bernie, what do you make of that? other. >> that was the greatest song and dance if heard. you ought to put that act on the road. it was awesome. i don't have a clue where they're coming from. i'm in florida right now, and with a group called the job creators alliance, and i talked to you about it. this is a group, small business people, how small business people are reacts to everything happening out there. let me fifth you -- give you the word. i talked to eight people today that run businesses. they're not big guys. this is not general electric or home depot. these are guys that run businesses anywhere from hundred people up to 1,000 people. they're hiring people, hiring parttime people. nobody is hiring fulltime people. >> neil: what's going on with the markets? the markets have been racing ahead. the dow, s&p, we're closing in
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on 5,000 now. so, do they see this? do they get past this? what is happening? >> i don't know. i don't know there's a relationship between the market and the real world. let me tell you this. most companies are making a lot of money. why? because they're not expanding. they're not merging. they're not buying other companies. they're basically staying where they are. they're building up tremendous cash, and they're giving dividends to shareholders and buying back their stock. so they're making their stock more valuable, and i would say that if you were out the and you had money, you wouldn't put it in government bonds. it pays nothing. so you go out and find great companies, like home depot, by the way, a great company with a marvelous group. i have to put a plug in. >> neil: homehome depot has done that.
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a lot of companies. not expanding into new operations or factories or enup plants and equipment and hire folks. they're not doing that what does that tell you? >> that's exactly right. that tells you that everybody is afraid of the economy. that everybody has no, absolutely no confidence in what is happening in washington. they don't know what's going to come out of washington? is it higher tax? if it is, it's a drag. you don't know whether the republicans are going to back off or stay there you don't know whether the administration is going to stay with their proposal. look, their idea -- just heard it. when they raise taxes on everything around, eventually the consumer has to pay for it, and the worst part of this is that obama says he is concerned about the middleless and the lower class. they the ones punished the most. so i don't get the whole thing
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in washington, creating jobs is what it's all about. and you don't create jobs by raising taxes, create jobs by putting obstacles in your way, with all the regulations and everything you hook -- looked forward to they're putting somebody necessary the epa. if this person is as bad as the last one you're not going to see growth, and companies will keep re-inest? their own stock and won't hire any people, and that's the job market. i don't know. i heard your last one before your program somebody said the job market is improving. it's not improving. we open home depot in 1979. there are more people in the job market in 1979 than there are today. you explain that to me. >> neil: the middle of the carter debacle there.
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personishing it's great -- bernie, it's agreeing seeing you. keep the happy hour to going. the lawmaker looking to extend bar hours to get the economy lit up. and taxing rainwater? the dip dip who came up with the drip drip. ♪ using telemedical and mobile technologies, verizon innovators are connecting trauma surgeons to patients in the field. helping them get the attention they need, before they even reach the hospital. because the world's biggest challenges deserve even bigger solutions. powerful answers. verizon.
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so get allstate. [ dennis ] good hands. good home. make sure you have the right home protection. talk to an allstate agent. >> neil: bombs up for more bucks. dd bottom's up for more bucks. mark leno is behind a plan. very good to have you. we should explain by comparison in new york, for example, maybe they keep the bars open all night. i don't know why i'm asking you. you seem to be a good guy to know in california, it's open
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until 2:00 a.m. now for the most part? >> that's right. a statewide 2:00 a.m. closing time, and so we're just considering following the lead of 24 other states, including new york state, to give cities the opportunity to create new jobs, expand businesses, and increase tax revenues, through a community-driven process which would bring all stakeholders to the table should acity decide to take advantage of the opportunity temp the bill imposes nothing on anybody, and once a plan is created it would have to be approved by the state department of alcoholic beverage control, and should the plan be approved, then through a third public process, individual establishments that meet the criteria and the standard within the local plan -- >> neil: you're making me drive to drink just to follow the process. it sounds to me like what you're interested in is just creating more revenue and potential job
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opportunities for your state. i guess where i'm at a loss how it would do that. let's say bars stayed open another couple of hours. would it make that big a difference? >> i can tell you that the number one employer in the state of california is the restaurant industry. the number three employer is the tourism industry. and travel and tourism and entertainment is the fourth largest industry in the state. in my district of san francisco, it's in the number one industry. we hosted 16 million visitors to san francisco last year, who spent over $8 billion in san francisco a lone. so this is a -- not an insignificant industry, and so the possibilities are, i think, great. >> neil: now, you'll get a lot of groups worried how dangerous this could be -- >> indeed. >> neil: drunk people on the roads. >> of course, and i don't take any of that lightly. that's why we have a community-driven process, and
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why i overdid the explanation of it to you, which your eyes were rolling. so it's a very arduous and rigorous process because i take the public safety concerns seriously. it's interesting to note in the 4 states that already do this -- the 24 states that already do this, no one is considering reducing the hours of beverage service. so we can learn from other states don't see increases in duis on violence in the streets. in these 24 states that i would russ their hours if that were the case in washington, dc, it took -- put a toe in the water and allowed for service beyond 2:00 a.m. on holidays, and then they extended it to the time of the president's inauguration, and then they found there was no additional crime, and that all was able to work out. so i think in a thought. fashion we can do this. >> neil: senator, thank you very much. it was kidding about the
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>> neil: hours after the president's budget is released some new information about the healthcare law that might make your wallet sick. the health insurance exchanges required by the law are going to cost more than twice what was originally thought. no surprise to this guy, dr. mark siegel, a remember of the fox legal a team you. said these would be problematic from the start, and apparently costly, too much what's going on? >> the 5.7 bill you showed is only to cover the 17 states
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doing their own exchanges. on top of that, there's about a $3 billion price tag for the state's 26 states the feds are setting up. by the time is this over, by 2014, we are looking at more than $10 billion that most of which hasn't been appropriated at all. so -- >> neil: why is that a big neil these insurance exchanges are more expensive to get going an thought. how does that filter town to us? >> well, first of all, they're going to come right from the taxpayer pocket. if congress afrees to this. congress may not agree. last year they at any time agree. they haven't appropriated any money for this. what is going to happen to these exchanges if congress doesn't approve? they may not actually happen at all. if they do happen you have to pay taxes and i said that obamacare is one big tax on top of the medicare tax, the payroll tax on medicare, the tax on capital gains, the penalties,
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not to mention the costs to the consumer we're talking about with premiums going up, by covering preexisting conditions. what an expensive law. and by the way, haven't mentioned yet, the costs of expanding medicaid. not only -- the feds say, well, we're covering 95% of medicaid expansion but what about administer that on a state level. that's going to cost states millions, and most stith budgets are already in trouble. >> neil: when you look at this and hear the administration and others say, well, there are some rougher than expected up-front cost but once it's up and running, we're off to the races. you say what? >> i think the key here is that it's costing more than double than they expected. why is that? why can't they estimate anything properly? and remember medicare part d, when you is that right with
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computers for elderly people and say, go here go to this web site, and a third of the costs are for education and outreach, people will be so confused how to ugly use these exchanges, probably you can double on top of that what this will cost. i think this was poorly conceived. i already have a problem thinking it may not work properly bus of confusion, and now we have all the money involved. >> neil: i'll put you down as a maybe on the healthcare law. good to see you again. to washington now where a meeting at the white house between president obama and big bank boss is raise something eyebrows. charlie, all over it. hough did it go? >> well, to the bankers it went great. for a change he did not beat them up.
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biggest bank uses why did hey meet with them? >> he does this periodically and used them as whipping boy in the past. they would go in there, he would beat them up, leak the story, and be able to promote his class warfare agenda. this time it was different and his people were foreshadowing. he was very conciliatory and they were conciliatory to him. they were in agreement on one thing. the president and the bank chiefs believe that the economy is poisessed for a robust recovery. they're looking at numbers that are the groundwork for a robust recovery. >> neil: same numbers that are getting weaker? >> but the word is poised. okay? >> neil: i'm a coiled spring ready to run a marathon. >> that's the problem. they know that is in in cal policy the white house -- the taxes and healthcare laws, they know that is what is keeping the lid on the economy, from
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improving. >> neil: they're afraid of them. >> they're so afraid -- >> neil: why? >> i went to somebody today, a senior adviser for one of the people in the road. i said, why doesn't he tell is like it is in? dodd-frank passed. just go in there and tell him that you're screwing things up? you know he is screwing things up. regulation, dodd-frank, all this stuff. you know, banks are heavily regulated. and the white house can be very vindictive, as we know, and they're -- neil they're afraid he'll zoom them again. >> or make them the object of scorn again, and -- >> neil: by and large, you -- he is protecting them. >> protected them, but -- >> neil: too big to fail remainsle. >> goldman sachs suffered a lot. they have the ultimate protection. but no one likes to be called
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names and fat cats. >> neil: i agree with that but there's a difference between being called names and have someone rip your business apart. he d. do that. >> you're right. and part of me said why don't they laugh all the way to the bank? to their own bank. apparently it does hurt them and hurt their business when you're being attacked every day as the root of all evil, which they were, particularly during his first term. so they liked have him at least conciliatory. it was a constructive meeting. neil what does that mean? they didn't throw food at each other? >> i'm agreeing. it was b.s., smoke, didn't say anything. the real heavy lifting, if there's any sort of dialogue what to do next, will be done not by the president but between the aides and the wall street guys. >> neil: charlie, thank you very much. there are business reporters on
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the planet, and then there's charlie. he is in another time zone. >> putting me down here in the business reporter -- >> neil: you're in your own little time zone. >> i work. >> neil: exactly. charlie. meanwhile, five trillion new reasons immigration reform might not past. we'll explain that. forget your tax return. now it's your in box, and the irs is snooping.@
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>> neil: you are looking at video just coming to us from mississippi where that is a significant tornado, folks, making its way across what i'm told is the mid-portion of the state. this is video taken just a few moments ago. they were expecting severe weather through much of the south today after much of the midwest was pelted by snowstorms, and this on the heels of reports of what could be a very busy hurricane and tornado season. better than 16 serious hurricanes forecast. a record number of tornadoes as well. look at this baby. any sound with these guys? >> look at the cows running.
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a sudden move to the left -- it's coming towards us a little bit. >> neil: we're going to get off this but cows aren't the only ones running. >> an early reminder of the rough spring we're in. we'll keep you posted as to any damage or whether other tornadoes landed in the area. they war expecting violent weather today from these storms. meantime, ahead of the bill, love the bill. the gang of eight gets ready to unveil its immigration overhaul. a new report, illegals would add between four and five trillion dollars to the national debt. steve, how tide you arrive at that? >> it's not my number. you're talking about reports that looks like it's going to be coming out from the heritage foundation, one of the major
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think tanks here in washington, and they're looking at the actual surveys the government collects on immigrants and natives and then teasing out who the illegal immigrants are and look how much they're currently and might likely use a service and how much they pay in taxes. now, and if they get the amnesty, and what it shows it's going to be a big fiscal hit for taxpayers. >> neil: welcome make the assumption they're getting something off the system right knew, but as citizens or those who will be en route to citizenship or at least not a kicked out of the country, so not kicked out of this country? is, i should say, they're due a lot of benefits. >> exactly. the thing is that the illegal population is overwhelmingly unskilled. if you look at immigrant households, headed by someone who hasn't graduated high school, which i probably the majority of illegal immigrants, about 60% of those households use one of the major welfare programs. now, for immigrants, household
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headed by an immigrant with a college degree, it's 16%. so a very dig difference. the illegals are overwhelmingly people who don't have a high school education or have only a high school education, and those folks don't make a lot and don't pay a lot in taxes but use a fair amount in public services. right now it's on behalf of their u.s.-born children but if they're legalized they'll qualify for more things. >> i've never seen dollar figures like this attached to the process. i don't think we have the money for this. >> what i think heritage is going to do is project it out over the lifetimes of the immigrants. they're only 35 years old on average so have maybe 40 more years to live and i think you're referring to the long-term cost as well. >> neil: steve, thank you very much. >> sure. thank you. >> neil: your tax document are fair game for the irs but what about your personal e-mails? that's after this. [ male announcer ] this is joe woods' first day of work.
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is now providing answers families need. siemens. answers. >> neil: forget irs. how about -- are you kidding me? according to the american civil liberties union the irs may be able to read your personal e-mail without a warrants. but is that legal? here to try this, michelle and
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-- what too you make of this, michelle? can the irs too -- do this? >> the fourth amendment requires a warrant to search everything somebody has a reasonable expectation of privacy. so the question do is we have a reasonable expectation of privacy over e-mail some the answer is, you bet your bippy. >> neil: what would make the irs take the leap? >> let me go back and say the irs can do whatever they want. [laughter] >> but at the irs thinks they can do this because they're the irs and there's an ancient electronic e-mail protection act dating back to 1986 that regulates electronic communication. i believe it was on the books for wire tapping, and in 19. -- 1986 e-mails futuristic, and
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now they're -- >> neil: they're ubiquityous. this happened few days ago when potential hill the irs was looking at facebook pages and how can they claim $26,000 a year in income, et cetera. first what appears to be infringement or the suspicious turn, then that triggers the other venues. >> that is essentially the way that searches and ease ours -- seizures york in many contexts. the thing about this type of seizure, seems really distasteful the irs can get e-mails but the law doesn't say, where would you like to have privacy? where does it make you feel good to have price? >> neil: if they find something in your return that seems a little suspicious, then they want to expand this out a little bit, they can proceed to
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e-mails, proceed to -- >> they may. >> neil: legally can they? >> right now, no one has said they cannot. >> neil: not the same thing is a it's legal. >> there's an exception to every rule. >> neil: don't even answer questions, you're attorneys. >> there's no such thing as yes or no. >> there's a very good argument the irs can make to say that no one has a reasonable expectation of privacy over personal e-mails. >> neil: i agree to that. opposite you're doing stuff on the web -- >> everybody knows. >> e-mail are the same as regular mail. they're even more secure because you have to have a password to get into your e-mail. you don't have to have a password to open your mail box and if you reach your hand in your neighbor's mail box, you're committing a federal offense. >> neil: if you're at the irs -- >> a person has a hire expectation of privacies when it comes to e-mails than regular
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mail, and regular mail is clearly -- >> neil: the irs is operating enough the proviso we're only doing this when we detect or fear something is aand is then it's open game. >> in general in law enforcement when that's the case in other contests -- >> neil: they're justed. >> generally. when there's smoke there's fire. neil northeasterly it's interesting you guys are afraid to challenge the irs. >> i do not like to challenge the irs. at all. >> neil: this is awful. both of you are just awful. but, ladies, thank you, i guess. hopefully you -- when we come back -- i'm kidding -- ramping it up. time for the u.n. to step in. note it's right every the lawyers. i do a lot of research on angie's list
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>> enough is the time for north korea to end the kind of belligerent approach that they've been taking, and to try to lower temperatures. nobody wants to see a conflict on the korean peninsula. >> neil: president moments ago meeting with the united nations secretary general, and former u.s. ambassador, john bolton. is it playing any role here? >> look, the secretary general is the closest thing you are going to get to somebody who is prepared to say anything about it in the u.n. system because he
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is a former leader of the south you're and knows the peninsula backwards and forwards. but when he comes to international space and security, that depends on the security council, and i can assure you next to nothing will happen until this plays out. >> neil: normally you get a un delegation in pyongyang, say everything is hunky doory and come back and report everything is hunky-dory but about have not seen that and as i know no u.n. team has been allowed in. so that could turn this even more of a pressure cooker. >> north korea withdrew from the nuclear nonproliferation treaty ten years ago and kicked out the international atomic agency. didn't make any difference because they didn't show the
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iaea anything critically important anyway. so the presence or absence of inspectors would make much of a difference in north korea. back in my confirmation days i got into trouble for something i said ten years ago, there is no such thing as the united nations, by which i meant the u.n. has no separate existence in a situation like this. it's only what its member governments are prepare to have it do, and given hour divided the security council is, withrich and china flying political cover nor north korea, the security council will not be able to act effectively before this plays out. >> neil: i know you're the foreign policy expert but i nowhere countries are on a map so i'm equally qualified to talk about this. i think that china doesn't know what the hell to do with this guy and he is a nut out of control. >> well, look, number one, we don't really know who is in charge in north korea, and i'm just amazed when watch the
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director of national intelligence testify as he has in the past couple of days that this is somehow a reflection of an effort internally to show that kim jong-un is in control. we don't know whether he is in control, the generals are in control, or it's some combination in between. i think you're right. china is schizophrenic about what to do with north korea. the older generation, still looks at north korea as a necessary buffer state to keep the united states away from the border with china. the younger generation, however, seeing this nuclear menace on their border, seeing what an ugly piece of baggage that regime is, is much more amenable to talking about what i think the real solution is, which is reunifying the korean peninsula. that's going to take a lot of time. we should have been at it ten years ago but better late than never. >> neil: could reunify in another way, too. >> when it ravens, -- when it
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rains, you're poor. a new tax leaves home owners all wet.
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. it doesn't matter where a good idea comes from,
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it only matters that it shows up and makes things better. in that spirit, verizon is proud to announce the powerful answers award. 10 million dollars in prizes for the best ideas. ideas so big, they have the power to change everything. whether it's our inspiration, or yours, the world's biggest challenges deserve even bigger solutions. the powerful answers award from verizon. >> neil: forget singing in the rain, maryland residents may soon be screaming. democratic governor announcing his state ill enforce a rain tax to help fund cleanup of the
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chesapeake bay. how does it work? it rains on your property, you may, diproportionately so, you pay more. that's really it. and it's kind of scare y. to charles payne, who says they'll fine creative ways to hike taxes. never creative ways to cut spending. anyway, charles -- >> who would not be -- >> neil: as nine. >> not using a cigarette smoke, gasoline tax, i can't control the rain. are you serious? >> neil: if you tried hard you could. >> for the rain? i got pay for the rain. >> neil: there's some homes that disproportionalitily benefit from extra rainfall, so because of that, they pay more? >> no, no. they're going to -- by the way $14 billion and gives to the organizations under the guise of
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two packs a day would send all of their kids to college but that is a different story. >> that is a different story. charlie, thank you very much. i got to get to melissa france. excuse us. all right. charles in charge. and he is in charge. if he is upset about something.

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