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Detailed text transcripts for TV channel - FOXNEWS - 20120714:14:14:00

Could we see prices go? i would consider the consumer popped root now. joe main street is facing foreclosures, facing unemployment. facing potentially higher taxes like we talked about earlier and now, this drought is going to send your basic staples, corn crop, going to send your basic food staples skyrocketing and i don t think the american consumer can take another body blow. this could be hurtful and trickle into the other keened of price inflation. well, toby, it s the stock that corn goes with almost everything. it does, but thankfully the corn that we re using now was stored from six months ago, takes 90 to 120 days, number one, number two, the corn that s harvested right now is not harvested until september. so, is it going to hurt us this summer, no, are higher prices going to be higher for food, yes. ....

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Detailed text transcripts for TV channel - FOXNEWS - 20120714:14:17:00

you know, brenda, we have been talking about inflation armageddon for like the last six months and yet, i always look back at the numbers and i always said, it is just not showing up. inflation year to year is 1.7%, food inflation is 2.8%, i think it will have a little effect on food and that s higher than wages though. hold on one second, brenda. hold on one second, but i think it will have an effect on food inflation, but, remember, food is only 14% of the budget and as toby points out. other big areas have gone down, and gasoline year to year is down almost 15%, you know, so, right across the board, brenda, things tend to balance out and remember the other thing, we have so many more choices than we did in the past, even, five, ten years ago for people to switch. you don t like, the beef prices are going up. i know what you do in your family, you switch to pork or ....

Brenda Buttner , Inflation Armageddon , Food Inflation , Hold On One Second , 2 8 , 1 7 , Toby Points Out , Cut Down , Beef Prices ,

Detailed text transcripts for TV channel - FOXNEWS - 20120714:14:22:00

Decide whether the welfare recipients have to work to get benefits and toby, you say this will unravel the one entitlement reform, that is actually working. where is clinton. you know, this is a program that works. thises an entitlement that we cut back and it works. i mean, we need one thing to point out that you can actually cut back on entitlements in in country and people aren t going to feel dying of starvation in the streets, but lo and behold, now you can use a smoking cessation class and that s working and i can do homework for my kid and that counts as working and this is hey, that s working. this is the entitlement mentality gone wild. and steve, you might actually agree with toby. how do i get the words out of my mouth? i agree with toby, this is polarizing, we need unity and ....

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Detailed text transcripts for TV channel - FOXNEWS - 20120714:14:24:00

People are really for the small payment and you re giving the state more power to determine how they want to manage their welfare program. the federal mandate to work is really what you re talking about and concern about all four there. gary b, you re a conservative. are you for this? well, god bless jonas for help finding the silver lining. and finding the good point. not at all. thankfully he s on the show. the bigger issue, should we be doing it? historically, the government covers carrots or things they want to do. more deduction because they want you to own a home. they offer depreciation equipment they want factories to build more, you re offering an incentive for people not to work. even if jonas is right and the effect is zero, it strikes the american public as the wrong thing to do. as toby points out. ....

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Detailed text transcripts for TV channel - FOXNEWS - 20120714:14:05:00

Tax program because you re thinking the tax cuts are going away and might be not demand and better not hire somebody nowment it would be better if we had a smaller tax to pay for with spending cuts than one we can t afford and pretend it goes away and show a balanced budget over 20 years. brenda: a shootout, but toby. the number is $250,000 per family not 500,000, the first issue. the second issue, 91% of all the taxable income for small businesses comes from 1.2 million businesses, it s not like it s not a consequenceal number. if are going to the i m sorry, life s not fair, 1.2 million of these small businesses, account for 91%, when you raise those taxes 4 or 5%, they go up 2% at the state level and all of a sudden. you may hundreds of billions out of the system and that hurts the economy and hurts jobs. so, it s not 500,000, it s 250,000, does that change your answer? no, not at all. ....

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