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tv   Cashin In  FOX News  June 20, 2015 8:30am-9:01am PDT

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prehung doors that dads love. >> sure, and faucets and lock sets. good weekend fun. >> everybody have a wonderful father's day. thank you so much for watching. that's it for forbes on fox. the number one business block continues with erin and cashin in. presidential hopeful rand paul is here unveiling his fix for our broken tax system, and, oh yeah what does he think about donald trump's white house bid? plus microchipping inmates to prevent them from escaping. it's the controversial proposal in the wake of the latest prison break. would it be worth the cost or would it be an invasion of privacy of biblical proportions? then vacationers and beach goers on alert. are all these shark attacks attacking a key part of our economy? tashin in starts right now. welcome to cashin in.
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our cashin in crew is here and will join us in a moment. first, it's fair. it's flat. it's senator rand paul's new tax plan for america if he gets to the oval office. i sat down with the presidential hopeful just a short time ago. thank you so much for joining us on the week you unveil your new tax plan. it involves a little bit of flat tax, a little bit of fair tax. personally i think it's a great idea. loving it. tell us about the 14% rate on income and also very specifically no payroll taxes. >> you know our tax code has been chaesing companies and jobs overseas for years now. we chase burger king to canada. we keep chasing companies that are reincorporating overseas. some of america's greatest companies won't bring their money back because of our tax code so we just decided get rid of the entire tax code and start over with a 14.5% rate. this would be a 14.5% business tax and a 14.5% personal income tax and everybody would pay it. it would be different than the current system where some
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corporations and some individuals file tax returns that are tens of thousands of pages long in order to avoid paying any taxes. under our system everybody would pay, everybody would pay 14.5%, but the interesting thino one has ever tried before is we get rid of the payroll tax. every working class american in our country will no longer pay payroll tax. it will be part of the business tax, and this will be great for those who are, you know just struggling to get by making $30,000, $40,000 a year with a whole family to feed. this will be a great tax code or a tax cut for the working class. >> very interesting. i have been a big, big in favor of the fair tax for a long time and i think this incorporates some of the good parts of it but i have to ask you this senator. how do you fund the social programs if there's no fica tax? >> what we do is it comes out of the business tax. business will pay the payroll tax. they will be taxed on their payroll. that's different than what we do now, but i think it's a trade that's worth taking where the worker no longer has to pay the
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tax. the business pays it. the money will go into a fund and we will dictate out of our plan that the first money has to fully fund social security fully fund medicare. in some ways this is an advantage over the current system which actually doesn't fully fund. our system will fully fund social security and medicare and then what will have to happen is if the rest of the government will have to say, you know what we have to cut back in order to make ends meet. that will have to happen. >> right. and very importantly, so have you scored this? do you know how much this is going to cost? in other words, tax revenues, tax receipts by the government will this -- >> this will be the largest tax cut in our history. really you want to argue where are jobs created? are they created if we send $3 trillion to washington or are they better created if $3 trillion stays in the private economy? we haven't had that distinct sort of argument or distinct debate in our country over where money is best spent and where jobs are best created.
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the tax foundation looked at our plan and said we create a couple of million jobs and so i'm excited about having that argument with hillary clinton. if she wants to argue that every in america should be paying a couple of thousand in payroll tax, and i want to argue that everybody making $30,000, $40,000 a year should have a couple of extra thousand dollars in their paycheck that they could spend on them and their families and on savings, i think we can have that argument. i'm happy to have that argument with hillary clinton. >> sure. because it's a tax cut will there be a -- the necessary spending cut, or will that go to debt? >> yeah. i've spent my whole five years that i've been in the senate balancing budgets and putting forth budgets and ballots. i am willing to do the spending cuts. i'm not willing to add to the debt and so while this is a significant tax cut, it causes a lot of growth which means over time tax revenue will pick up from growth but in the meantime i'll cut spending. there are several departments up here.
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we've had it for 30 years. our scores aren't improved. really in some ways we've taken power away from parents and teachers. i like to return that power to the state and to the people. i think there's a lot of republicans who agree with me on that. >> senator, i'm going to turn to the 2016 race. a couple of new hats in the ring so to speak. donald trump declared he is going to run for president, and jeb bush also jumped in the ring. on donald trump, he had some provocative things to say. i have a little soundbyte. i want your reaction to that. >> i will be the greatest jobs president that god ever created. i tell you that. >> now love him or hate him, donald trump seems to be making the gop field stronger and at least more prepared. is that accurate? >> well i think he taps into a vein of distrust of career politicians. it's the same thing i think i tapped into when i ran as a physician, not as a politician for office.
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i think he knows what people want. they do want the creation of jobs and they want something different, and so the question is what will be his plan for creating jobs? my plan is to dramatically lower taxes, to dramatically simplify the tax code. in fact to throw out the tax code. that's the question voters will have to compare which plan will work better to create jobs and we'll see. >> so you think it's a good thing or a bad thing to be standing on the same debate stage with donald trump? >> you know i think the more the merrier. the problem with politics is we have too many politicians involved. it might be interesting to have people in debates that will say what they think and not be cagey about it. it doesn't mean we'll xwrae on every issue, but i think we need more truth tellers or people who will speak up and say, you know what the politicians and status quo isn't working in washington. we need to do something different and on that vein i think he and i are on the same wave length that the status quo and all the career politicians ought to go. i'm a big plan and term limits.
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i think there are new people that can come into government that can do just as good a job or better than we have. >> one thing donald trump said during his speech was that some of the frontrunners he specifically pointed a finger at jeb bush marco rubio, et cetera but he also called the group fools. care to weigh in on that? >> well, you know i don't know about what descriptor we should use. i would say that there are certain impediments that many of them will have to overcome. some say jeb bush will be the frontrunner when he has the buckets of money that he is going to raise, but i think he has some obstacles to overcome. i think there's a lot of republicans who don't want a big government republican who truly want a conservative and many republicans, like myself have been part of the party and the movement for a long time. it says that education should be sent back to the states and the people and not concentrated on the federal government. i think that's an important debate and we'll have that debate but i don't think common core and centralizing control of
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education and the department of education is going to be very popular in our party. >> senator, before i lose you, real clear politics the latest average has you -- actually the strongest on the gop side and head-to-head against hillary clinton. can you tell us how that turns -- how you see -- how you think you got there? >> we're pretty excited by the fact that we're actually beating hillary clinton in five states that president obama won. the way you win presidential elections is not by winning the red states or the republican states. it's by winning the purple states or the states that went for the opposite party. we think we're beating hillary clinton in pennsylvania and ohio and other states like this because we attract independents. in fact the polls show we're beating hillary clinton by eight to ten points among independents, and i think it's because i talk about liberty issues a right to privacy the right to you know be left alone, and i think a lot of americans resonate with that. i think the president went too far in collecting all of our phone records, and so i think a lot of people will be and are
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becoming attracted to this idea the government ought to leave us alone. >> we're going to say thank you very much and it's a very very interesting text. i think that's what more candidates need to do is start opening up and telling us what they plan to do with taxes specifically. that affects every one of the folks watching right now. senator, thank you so much. >> thank you. >> we heard what senator paul thinks. now here's what you think. gabriel p.t.a. said wake up america. rand paul's new flat rate tax code _#simple matt math. joseph ray said donald trump is not a politician. he is a businessman. that's what this country needs. _#wake up america. weigh in on the candidates politics anything that you want to add to the national debate. just don't forget that hash tag. coming up our cashin in crew is here and ready to rumble. it's one of the most controversial -- microchipping prisoners to prevent them from escaping. it may sound good but will the cost be biblical? anging doesn't mean you have to. with tena's unique super-absorbent micro-beads
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what will stop criminals like these from ever escaping from prison? microchip them. one lawmaker is proposing using gps implants to track violent convicts. would this be worth the cost? taxpayers on the hook, but invasion of privacy. how do you fall on this one? >> i think this is a terrible whered. it's a waste of taxpayer dollars. imagine how much money it's going to take to basically purchase all of these, insert them track them and then take them out of the criminals when they're done. what stops a prisoner from cutting it out when they escape prison? it just doesn't seem like it's very well thought out. then there's the privacy issue. i don't think that this is constitutional. i think it's very orwellian, so i am absolutely against it. >> how about you, john? is there a case to be made for doing this? >> this is the modern day incarnation of the ankle bracelet that we already use to track criminals all over the place. i'm sorry, but jail isn't
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supposed to be comfortable. i think the problem isn't the cost of the implants and the microchips but the cost is the jail system. you know 3% of the jail system are homicides. 50% are drug offenders. a lot of them nonviolent. that's a good thing to start with cutting costs. am i wrong, michelle? >> i don't know how you call yourself a libertarian. the idea that you're going to implant something in someone i think it's very 1984. this idea that -- >> to protect americans from violent criminals on the street. that's the proper role of government. >> okay. so it's going to be we're going to put it in murderers and then what? if someone litters, we're going to put it in them? it's a slippery slope. >> no it's not. there's a big difference between murderers and people who litter. >> the idea that the deposit is going to stick something inside you, i mean as a libertarian, i think it's bizarre that you are in favor of this. >> they put an ankle bracelet on you as it is. to keep from you escaping. >> you want to break this tie here? >> well, it just seems ridiculous that you have an escaped -- two prisoners escape a maximum prison. that's the first time i think
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that particular prison where they were in the maximum side of that where they escaped, and you're going to have a whole revolution based on that. what difference does it make? you lose two prisoners every now and then. big deal. >> let me guess. >> i just want to say, wayne is exactly right. this is an outliar case. it seems like a movie, and it's really exciting in that way, but i just want to say, we don't have an escapeee problem. in 2013 we only lost 2,000 prisoners, and a majority of them were just walk-aways from community centers. this isn't really the main problem here. the problem is that we're imprisoning people who are there for crimes that they shouldn't be there for, and we need real prison reform which is not microchipping people. >> john. >> 2,000 escapees out of a prison population of 1.5 million people. >> exactly. >> we should be looking at reducing the number of prisoners and finding now ways to track the ones we don't even need. >> some of the pushback is
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coming from people who say this was actually prothecized in the bible. i'm going to quote this. and he caused -- to receive a mark in the right hand or in the forehead and that no man might buy or sell say he that had the mark or the name of the beast or the number of his name and a lot of people who are biblical scholars are saying that was -- what's going on right now, this proposal michelle is what they predicted in the bible. hundreds of years ago. >> i just am skeptical of the government being involved in anything. the idea that they're going to start implanting chips inside people i think it's very scary. and the idea that they're going to do this it may end up going to the entire population. we're going to put chips in you. this is insane. i can't believe we're talking about this right now. >> can't the government be involved in law enforcement? you are skeptical of government being involved in law enforcement? >> putting chips inside someone's body? yeah. >> we're not just debating
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whether we should do this. this is actually proposed by a new york lawmaker. wayne, you are sitting there contemplating this. >> no. what i'm moggled at is this is based on what you read from that is it comes from revelations. revelations was written by john on the island of p atm os which he was out there by himself dreaming up stuff. it's hard to believe -- you read a lot of what's in revelations -- i'm not a biblical scholar, and i don't pretend to be but good lord you read all of that stuff that's in there, that's just ridiculous to try to think, oh now we're going to apply this because it was in revelations. we're going to apply this to you know criminals in the united states. it's nuts. >> there are very many people who are interviewed, and they were very much in favor of this idea because they're criminals. >> absolutely. i mean i want to know about the idea that we dehumanize the prison population. just a few weeks ago -- he was
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held at likers island killed himself because of the treatment he endured. we have a huge criminal justice problem when ch we're talking about real systemic problems in our society. microchipping people there aren't enough people that we need to be worried about at this point. this is a great story out of new york. not a great story like that. i think they did a good thing, but it's a talking point. we're talking about gun control, how to get it in there. >> whoa. >> right? >> you saw the light come on. coming up vacationers beware. it's like a scene straight from the movie "jaws." kids pulled from the water because of vicious shark attacks. will they also attack our me this summer? the life behind it. ♪ those who have served our nation have earned the very best service in return. ♪ usaa. we know what it means to serve. get an auto insurance quote and see why 92% of our members plan to
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good morning. i'm melissa in washington. thousands mourning in charleston today. they gathered together to pray for the nine people gunned down during a bible study class on wednesday. in the days since the shooting several relatives have been speaking out and sharing an incredible story of forgiveness. plus we're learning new shooter and just how long he may have been planning his attack. more at the top of the hour live from charleston. and gop presidential hopefuls are in washington this weekend for the annual faith and freedom coalition. they're opening up about their religious faith and the role it plays in public service. plus the gop is up to a dozen nouned candidates and the most recent contestant stole this week's spotlight. it's donald trump. is he a serious contender? i'll ask our fair and balanced panel. and the fbi on high alert for potential isis attacks as the fourth of july approaches. you'll hear from former fbi director
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director. >> i didn't see it coming. i felt it on my leg. then i saw it had attacked my arm. >> that was 16-year-old boy who watched his arm following a brutal shark attack. another teen attacked just miles away also losing part of a limb, and check out this scary video from drones capturing sharks in waist deep water on the west coast. jonathan tomorrow is the first day of summer. millions of vacationers have plans to go to the beach. could all this change because of what's going on with the sharks? >> well eric certainly some local beaches, some local areas that have been directly affected i mean look sharks are scary. this is 40 years after "jaws" came out. they're really scary. the attacks are unbelievably rare. only about one every shark attack fatality every other year. you literally have a better chance of dying from surfing. i think it's like ebola, like swine flu. we look at these pictures, and we get really scared but think with your head not with your heart, and go to the beach this summer. >> thousand think it will affect
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the economy? do you think people are going to stay away? we spent a lot of time at the beach. my wife said we can't go in the water this year rsh are you kidding me? we have ae beach house. >> i think that people are still going to go. i just don't think that they're going to probably go into the water. they're probably going to do what i do which is just hang out by the beach. not actually go surf and go in the water. i think that's what's going to happen. i don't think it's going to hurt local businesses. >> what about you snshgs. >> i think they're largely right. i think the important thing is to get out the right information, which is that shark attacks, yes, they've been gradually growing since 1900 but this isn't a serious problem. it's very very low odds of being attacked by a shark. and i think that's really the end of it. it's all identify like a media game here. you know with the more that we subl size it the more nervous people are going to be. we should get the real facts out there. >> away about it wayne? some people will be reluctant to go to the beach, though and that has to affect the economy. >> well that's true eric, but as you should know these attacks took place in less -- in waist deep water. most of the attacks from sharks
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are people see the shark, can you see the shark, people get out of the water. i'm sitting right here in pensacola, florida. we had a shark attack here i think, what two years ago, and that was the other one. people were all over the beaches out here. it's not affecting anything. >> we'll leave it right there. coming up the massacre was senseless and pure evil as -- good-bye to nine christians who just wanted to worship in peace.
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you probably know xerox as the company that's all about printing. but did
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you know we also support hospitals using electronic health records for more than 30 million patients? or that our software helps over 20 million smartphone users remotely configure e-mail every month? or how about processing nearly $5 billion in electronic toll payments a year? in fact, today's xerox is working in surprising ways to help companies simplify the way work gets done and life gets lived. with xerox, you're ready for real business. i want to say thank to our cashin in crew. head over to fox and see stock picks. time to wake up america. what the hell is happening in america? 21-year-old man walks into a church and executes nine god-worshipping people. a pastor who is also a state senator and eight parishioners. by all accounts pastor clementa pinkney was a great man a great dad, and what a tragedy for
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those two little girls positive to lose their dad just before father's day. he wanted the world to know his hate. he spared one victim so she could tell everyone what he said just before killing the church goers. according to witnesses, he declared you're raping our women, you're taking over our country. there's no question this man is a hateful, ooefrl racist terrorist thug. let's be fair and all him what hes is and murdering church goers while he praise makes this mad man as bad as isis. have no mercy for this evil. south carolina has a death penalty. no better use of that law than right now, south carolina. our thoughts and prayers go on ut to the families of those killed wednesday evening, the church and people of south carolina. i pray every day for this country that calmer heads prevail because there seems to be a growing tension in america over race. like a pressure cooker heating up. we need to get a grip on this and turn down the heat before something even bigger than ferguson, bigger than new york
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city cop assassinations or bigger than emmanuel ame happens. god bless america. god knows we need it. thousands across the country remember those lost in charleston. holding prayer vigils and trying to understand the hate that led to this brutal crime. south carolina's mark stanford joins us from outside emmanuel ame church. the fbi busts another suspect believed to sympathize with isis here in america. that's at least ten people rounded up in the last month alone. former fbi deputy director is here to tell us why there's been such an uptick in arrests. well in 2016 conservative candidates talk about their faith in our freedom. here in washington you see live pictures coming in right now, while 3,000 miles away hillary clinto


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