On
The O'Reilly Factor...
All content taken from The O'Reilly Factor on Fox News Channel. Each weeknight by 6 PM EST a preview of that evening's show will be posted and then updated with additional information the following weekday by noon EST.
Guests: Monica Crowley & Alan Colmes
"Reports today say that Greece is about to default on its obligations. Why? Because the government spent so much money it can't possibly pay its debts. Here in America our government is also spending so much money we can't pay our debts. You would think President Obama's first priority would be to drastically cut spending. But the President wants a 'balanced' approach to getting the debt under control - revenue 'enhancements' along with a few cuts. President Obama wants us to believe that by taxing the rich he can begin solving our enormous economic problems. But the government is already taxing the rich - the very few households making more than $1 million per year pay an average of 29% in federal income tax. And even if Mr. Obama is successful in raising the tax rate on the wealthy, it's not going to get much money. There are only about 230,000 homes bringing in $1 million a year, so this is a class warfare illusion. What will make a difference is reforming the entire tax code to collect more money, modifying the Medicare and Medicaid systems, and a 10% cut across the board on all government expenditures. If that would happen, America's economy would soar. If the feds do not cut spending, pass the baklava. Greece is the word, with apologies to Frankie Valli."
Fox News analysts Alan Colmes and Monica Crowley assessed President Obama's plan to tax the rich. "Here is the flaw in the strategy," Crowley began. "The United States is an aspirational society, so even if you are working in a minimum wage job you aspire to the next step. We aspire to be the rich, so the assault on the rich is fundamentally anti-American. But the Democratic Party and this President are committed wealth redistributionists." Colmes contended that President Obama has come up with a winning strategy. "He is not playing class warfare, he's fighting against class warfare on the other side. Republicans are protecting the wealthy and hurting the poor, and polls show that President Obama's ideas are appealing to independents. We should have more spending, more investment, more stimulus."
Guest: Ed Rollins
With Congresswoman Michele Bachmann plummeting in the polls, The Factor was joined by her former campaign advisor Ed Rollins. "The bottom line," Rollins averred, "is that she's the best candidate in this field. She's very strong on the stump and great at retail politics. This is not over yet - our strategy was always for her to win the Iowa caucuses and my sense is that she'll be very competitive in Iowa. If she wins Iowa, she's still in this race." Rollins went on to evaluate the two front-runners. "Rick Perry has great support among the Republican base, the Tea Partiers and evangelicals, while Mitt Romney has an ability to attract independent voters. But no poll today matters. Four years ago Rudy Giuliani was leading in all 50 states and he didn't get a single delegate." Looking ahead to Thursday night's GOP debate, The Factor declared that Michele Bachmann "has to dominate that field."
Guest: Ahmed Rehab
Democratic Congressman Mike Quigley of Illinois apologized to Muslim Americans "on behalf of this country for discrimination you face." Quigley refused an invitation to justify his apology, so The Factor turned to Ahmed Rehab of the Council on American-Islamic Relations. "There is an uptick of Islamophobic remarks from people in power," Rehab claimed. "One example is pretty much everything that comes out of the mouth of Congressman Allen West, who said Muslims are the enemy. There are people in government and in Congress who make statements that make them anti-Muslim." The Factor reported some facts that belie claims of widespread Islamophobia. "The stats don't back up Mr. Quigley's assertion that there is an institutional bias against Muslims. According to the FBI, there were 107 anti-Islamic 'hate crimes' in 2009 compared to 2,284 anti-black and 931 anti-Jewish 'hate crimes.' So it seems that Jewish Americans have much more of a beef than Muslim Americans."
Guest: Mark Steyn
The Factor invited author and columnist Mark Steyn to opine on the Democratic Party's resistance to cutting government spending. "We have basically looted the future to bribe the present," Steyn said, "and we are doing it on such a scale that we're unlikely to have a future. Democrats genuinely think that rich guys like you and me and Warren Buffett are somehow keeping all this money in a barn somewhere. But if you're spending $4 trillion every year and only taking in $2 trillion, you can't close that gap - you can tax Buffett and you and me, but you can't close that gap." Steyn theorized that the United States is even more profligate than Greece. "In a sense Greece has to be more disciplined than us because Greece doesn't print its own currency, so it can't do 'quantitative easing.' Right now 70% of treasury debt is being bought by the Federal Reserve. In other words, America's left hand is issuing debt to its right hand."
Guests: Lis Wiehl and Kimberley Guilfoyle
FNC legal analysts Lis Wiehl and Kimberly Guilfoyle scrutinized a case involving pharmacist Jeremy Hoven, who was fired by Walgreens after defending himself against two armed robbers. "There were two gunmen," Guilfoyle reported, "and one shot at him. So Hoven pulled out his lawful concealed weapon and shot back. But having a gun is against Walgreens' 'friendly to robbers' policy." Wiehl contended that Walgreens was within its legal rights to fire the gun-wielding druggist. "Jeremy Hoven disobeyed the rules. But in my many conversations with Walgreens this week, I kept asking whether they could make a very narrowly tailored exception for this one guy, and they say 'no,' they are not going to do that." The Factor, in a Solomonic display of compromise, argued that Walgreens "should have suspended him."
Guest: Jesse Watters
Far left Congresswoman Maxine Waters has turned down repeated requests to appear on the program, so Factor producer Jesse Watters (no relation!) tracked her down in the corridors of Congress. Waters kept smiling, but also kept silent as Watters peppered her with questions. Jesse entered the No Spin Zone with some news about the tight-lipped Congresswoman. "She was named one of the most corrupt members of Congress," Watters reported, "by a non-partisan watchdog group. She allegedly orchestrated the Treasury Department's bailout of banks that her husband owned stock in." Factor reiterated that Maxine Waters has an open invitation to come on the show.
Dave Anderson, Loveland, CO: "Middle Americans are fed up with billionaires paying a lower rate of federal tax than we do. Surely, there is a fair solution to this inequity."
Bob Shultz, Rochester, MN: "The fair share for all Americans would be for everyone to pay the same percentage in income tax. 47% of Americans pay no income tax at all."
Michael Goldstein, Newport Beach, CA: "O'Reilly, as a former tax professor, I congratulate you on the best three minute economic talking points I have heard in a long time."
Tuesday's Patriots: The respondents to a new poll showing that a large plurality of folks consider Fox News the "best TV news network."