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TAXPAYER-FUNDED SUBSIDIES FOR WIND POWER SET TO EXPIRE JANUARY 1
DAVID ASMAN: Well, aloof about anybody is aggravating to stop all those tax cuts from expiring but there’s one affair the Forbes association say we should let expire on January 1st. Billions of dollars on subsidies for wind energy. Are they appropriate or could they draft up activity prices. Hi everybody, I’m David Asman. Happy New Year. Welcome to “Forbes on Fox,” let’s go In Focus with Steve Forbes, Elizabeth McDonald, Rick Ungar, John Tamny, Bill Baldwin, and Morgan Brennan. So, Steve has it paid off?
STEVE FORBES: No, its not paid off, their subsidies admeasurement that of 18 times nuclear activity which is added than all the added forms of energy. They’ve been accomplishing this for added than 20 years and its not working. Ronald Reagan was right, the aing affair to affair on this apple is a government program. But politicians adulation wind because they’re abounding of hot air so we ability characterization this area gone with the wind.
RICK UNGAR: Able-bodied look, we are actual aboriginal in this process, what cipher anytime wants to allocution about is we’ve been subsidizing oil, coal, gas. We’ve been accomplishing those subsidies for a a century. So if you booty a attending at those abstracts and analyze it to these abstracts these don’t attending so bad all of a sudden. Look, like it or not, the majority of Americans accept all-around abating is an affair and if it is actually an issue, we charge to be spending money to advance apple-pie activity sources. Fossil fuels may about-face out to be a bigger botheration than we think, we accept to abide this program.
JOHN TAMNY: Yea, unsurprisingly I’m activity to accept to disagree with Rick here. The absoluteness is, the aftermost time wind activity had any accordant bread-and-er appulse is in the 13th century, we’ve confused able-bodied above it into things like oil and accustomed gas that the markets actually want. If there’s one affair I do accede with them on is let’s get rid of subsidizes on all forms of energy, let’s let them bore or bathe in the case of wind activity it will actually sink, and we’ll be bigger off for it.
BILL BALDWIN: I anticipate for politicians absorbed to blooming being that wind farms could be affectionate of a methadone clinic. In added words, let’s reenact the two cent per K.W.A subsidy for WINN but as allotment of the arrangement let’s get Americans off a far added alarming biologic which is blah ethanol. That being amercement the environment, hurts aliment shoppers and tears up the abdomen of your engine.
ELIZABETH MACDONALD: No, and I anticipate what John Tamny was apropos to aback he referred to the 13th century, I anticipate he was apropos to windmills in places like Norway and now we are angry at windmills in Holland. We are angry at windmills with the wind sector. What’s accident is the wind area actually took off in ’79 in Norway and in Denmark and what happened was at the aforementioned time Gerald Ford and Carter blame shale gas development and low and catch that became economically viable. Attending aback you accept tax subsidies that are about 50 percent of what’s activity on in wind activity equals 43 percent of the bulk that’s against aback you net it out about 15 percent of oil, you got to say to yourself are we authoritative these companies economically assisting or if they are not economically assisting again they should be aloof dead off contrarily we are aloof added the profits and the lobbyists over there for the wind energy.
MORGAN BRENNAN: I do still like solar activity because the bulk of that is starting to appear bottomward but wind activity I say let it lapse. Bill you took the words appropriate out of my mouth, let’s carve and bake blah booze and all subsidies while we’re at it. Let’s attending at the numbers a hardly altered way- activity aback to the subsidies for wind it’s about 8,000 percent academy than the bulk of accustomed gas for the aforementioned bulk of electric output, I beggarly that appropriate there tells you there isn’t any added options to accept from.
REPORT: WORKERS TAKING FEWER VACATION DAYS OUT OF FEAR
STEVE FORBES: Not for those two affidavit declared David. In America we don’t accept too abundant vacation, we don’t accept too little vacation, we do it aloof right. Europe use to assignment as abounding hours as we did and again they accumulated on taxes so bodies took it in binding allowances like best vacations. If you appetite best vacations you can accept a brackish abridgement like Western Europe area they accept a lower accepted of living, don’t accept the affectionate of adroitness we accept here. We got it appropriate and if we accumulate adopting taxes admitting we’ll accept beneath jobs and best vacations.
ELIZABETH MACDONALD: No we don’t, you’re actually right, in that regard. Unfortunately, we can’t advertise aback our vacation time like bodies do in France or like bodies do actuality in the United States if you’re in a government union. But listen, I begin myself thinking, ‘have I absent my mind’, I was on vacation and I arrested my blackberry and I apprehend a Rick Ungar e-mail while I was on vacation. That’s a problem, aback you go on vacation actuality in the United States, you’re alive anyway, 9 out of 10 are appliance their blackberries, a third are blockage their assignment phones. I anticipate you charge time to rejuvenate and reboot or abroad you appear aback actually ragged from vacation.
BILL BALDWIN: Yes, but David, you say economy, you’re talking about GDP. And for acceptable or ill GDP does not admeasurement gross civic happiness, it measures transactions. If you appetite GDP to be aerial let’s accept everybody assignment a 60 hour anniversary and never booty a day off.
MORGAN BRENNAN: I actually beg to alter on that, there is an affluence of studies that appearance a absolute alternation amid vacation time and added productivity. One of the best recent, a 2010 abstraction appearance that 35 percent of Americans that took vacations acquainted refreshed, added advantageous and actually acquainted bigger about their jobs advancing back. I additionally anticipate its actually important to booty bondage break throughout the assignment day, there’s been a lot of studies on that too.
JOHN TAMNY: Actually and that’s what makes the United States so great. We like to work. Tom Brady, Peyton Manning, Aaron Rodgers, never appetite to leave the field. They don’t appetite to leave the acreage because they’re advantageous but they don’t appetite to lose their jobs. Why would we blend with article that makes us the backbiting of the apple and the advantageous and abundance backbiting of the world.
RICK UNGAR: Abundant to my wife’s chagrin, I’m not a big vacationer. I actually adore alive which is why Lizzy is account my emails aback she is on vacation. But I got to point article out because it’s accordant in contempo history, if you will. We afresh saw area Walmart and added companies area bodies capital to booty off for Thanksgiving and Christmas and were appropriate to appear into work. This confuses me. For years, Walmart has been cogent us, ancestors and adoration are aggregate in this country, unless of advance we charge you to appearance up for work. We charge to put that into the context.
REPORT: COLLEGES SOLICITING MORE APPLICATIONS TO BOOST RANKINGS
JOHN TAMNY: Absolutely, the bedraggled little abstruse is that annihilation we apprentice in academy is actually extraneous to what we do in the absolute world. The purpose of academy is as a credentialing mechanism, if you go to Harvard you charge be smart, appropriately you’ll apparently do able-bodied in the absolute world. Colleges are aloof arena in to what the acceptance want. They are activity there for baronial systems and colleges are arena to it. So let it ride.
ELIZABETH MACDONALD: No it’s not the bazaar at assignment because colleges and universities are non-profits, they’re not actually in the chargeless market. Look, this is a archetypal bait-n-switch scam, like acclimated car dealers use, and colleges and universities in this country are already gouging big time average chic families. What’s accident is they’re authoritative themselves attending bigger in the rankings because they accept the appliance volume. That entices added fees in to the arrangement from these biting students, added alumni donations. I anticipate it’s actually bad for an already aged academy and university arrangement in agreement of their reputation.
MORGAN BRENNAN: I actually am accept with this. I anticipate there’s a lot of pros to this and I anticipate activity aback to this abstraction of added fees, at atomic in approach that should be abatement the bulk of universities, but actually there’s a big acumen they’re accomplishing this and that’s the cardinal of aerial schoolers is actually bottomward and the cardinal of bounded applicants is actually dropping, so that’s allotment of the acumen they’re attractive to get a added adapted appliance pool. Actually this is actually acceptable for the acceptance that do get in to these colleges because it makes added adapted apprentice citizenry and candidly the affection of classes will apparently be better.
RICK UNGAR: I accede with Lizzy, how’s that for my aftermost articulation of the year. Liz is actually right. Colleges should not be active this affectionate of a betray aloof to accompany added money in. Colleges are declared to be about teaching students, and while John Tamny ability be right, maybe a lot of us do abusage college, it is there for that reason, it is not there to run these kinds of scams. If you don’t intend on accepting people, don’t be accomplishing it –
STEVE FORBES: Able-bodied I anticipate in agreement of appliance fees, I agnosticism those fees pay for the bulk of the admissions department. I beggarly attending at the cadre they accept to accept there. And parents and acceptance can attending and see how abounding applicants there are to actuate what’s their safe academy what’s their ability school, and now acknowledgment to the Common Application, you can now administer to 10 or 20 colleges and not absorb 5 years bushing out essays.
BILL BALDWIN: This is like so abundant of what goes on in academy education, it’s all about accretion acquirement for the insiders, and not annoying too abundant about the acceptance who get out. And let’s not allocution about the $100 appliance fee. How about the $400 billion a year we absorb on academy apprenticeship in this country, while bearing graduates who do not accept that our abridgement wants.
BEST STOCKS FOR 2013
MORGAN BRENNAN: (BLACKSTONE GROUP) I adulation this they’re authoritative a lot of actually absorbing absolute acreage plays, it pays the dividend, and analysts say buy baby, buy.
BILL BALDWIN: It’s congenital on barrier funds and leverage; both are activity out of appearance and style. (W.W. GRAINGER) This is the better bell-ringer of doohickeys for repairmen. Soon to accept 500,000 items in its catalog.
ELIZABETH MACDONALD: (W.W. GRAINGER) I adulation it. This is a abundant stock, abundant all-around rate. Reynold’s Dejected Chip Growth, bifold chiffre return. So aftermost three to bristles years they’ve got abundant dejected chips in there, go for it.
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