Also in this playlist...
This transcript is automatically generated
Man in trouble.
Doing calls this hour to investigate the -- -- after the agency which is supposed to remain neutral.
It's to targeting conservative group is right for the -- twelve election organizations using the names.
Patriots are Tea Party -- their application for tax exempt status or flat for further review.
There has now apologized.
But the bigger issue -- -- This is the same agency set to enforce the new health care law.
I'm one here says watch out folks opposing obamacare could be the next target.
Everywhere I've read about his -- and -- -- and on the news this week.
Gary B Smith Tobin Smith Jonas Max Ferris John -- and well coming back.
David emerged serve and I have -- David.
Welcome to everybody you know tell the -- based on history anyone who goes against the health care -- -- should be ready for not.
We did it vigorously -- started what Kennedy who needed it late to get back in his Kennedy's there was audits Nixon of course is sort of famous for this.
Instead historical -- purview of the president if you will to go after his or her enemies.
-- with audits and you by the way that's about the biggest way you can get somebody's face and this type of attack if you were to not -- obamacare if you were to be anti this you have about five once received nonprofit corporation against obamacare.
I'd be very careful.
The John this is the agency that is supposed to enforce obamacare save it you don't pay a fine as Toby brings up what do you think this could mean.
-- for taxpayers who aren't necessarily conservatives.
Well I left some things done about it means if you stick your neck out and oppose the government anyway you could be audited and no matter who's in power that has happened -- drive.
For many decades now look at look at the tax system we have -- about the plus pages.
Because people have -- all crooked politicians for so many decades that they've gotten so many favors that that there is exemptions -- -- 2000 plus pages.
And if you get -- you are accountants our lawyers you prove prove your case.
You still have to pay your counsel lawyers it's a rotten system need to be abolished to go to -- -- a flat tax or consumption tax.
So -- BV IRS apologize.
Does that mean there might be something more behind that what you think that means basically for taxpayers.
I think this is scary Brenda I hope this issue does not.
Go away look in the Irish might have apologized but you can almost guarantee they didn't do this on their own they had marching orders from someone.
And I hate to be a black you know black helicopter.
Or you know conspiracy -- unfair given a shot yeah but where -- orders come from I mean.
That was one thing when you know Nixon had his enemies list and that was bad this sounds even worse I mean.
-- they are all aspects haven't caught cup -- for crying out loud.
Higher -- going -- common citizens.
That's good is scary next we're gonna have the militia marching in and ordering people to do that at that at the government's web I don't like this one bit.
-- -- -- -- -- I'm not worried and I used to hold back on speculation and I think that would be the better part of it let the investigation take its course.
It is problematic.
And it looks like -- was targeting and that shouldn't be done.
By an organization or an agencies such as ERS being an independent agency however I will say this.
That those that elect not to secure insurance and therefore.
-- of a fee or a penalty.
Yes then you wouldn't think that the IRS is gonna make sure that -- -- that -- beyond that -- -- would not subject to fears.
That the -- is coming after you but you -- that but hey if in fact you can not.
Provide if insurance for yourself.
But you know -- they don't even get audited look I did a lot of good couple of -- hell.
Get audited and B&B right.
You're not our data center hardliners and I embrace what you're right or not makes no difference whatsoever to spend a fortune body in the -- you win you're stuck with -- -- -- -- -- as -- everybody that can happen whether Obama care or not they're people that are audited that would rather not go through -- well I cannot eat.
Yeah I do not an issue -- nobody wants an audit this is being hard hit it because of your political beliefs -- playing here.
I will weigh in by saying that I think the IRS is a wonderful agency and doesn't deserve any Arnie and that's hi I have -- -- like the -- -- -- actress.
And I actually they just won't go away quickly because no one's gonna aggressively -- the IRS because of the potential backlash don't want to go out there as well go up to you later put go to black -- Look this has been going on for a long time.
People use the IRS is very administration's told during that under bush in the ninety's that he fired George Bush the all the estate tax shall have to -- tax -- -- the RS they wouldn't go after wealthy people and -- so everyone's done their own little thing when they're in office to the IRS.
Now how we don't know the full story here it sounds really bad at this level personally I hope they went after all the organizations including the left foot and -- relations.
Cannot understand why all these people are getting -- -- status anyway so I think it's a legitimate audit.
Not -- you directed towards one Republican burst the left wing groups need may have done that and now be that they play.
Okay now now tell me the White House now we've got it dealing with two potentially.
Explosive scandal there's this IRS issue then there's also the Ben Ghazi.
Talking points admitting it admitting the words terror.
If we see even in Britain we see the White House embroiled in scandal what do you think the Wall Street will be doing Wall Street's watching you happen.
-- white house of course you know that the market so far they have watched a little did this happen and it got up.
Bob if you look at a situation where he got bogged down in the in defense of this and -- his agenda was not being passed you know I -- city market may actually like that.
Our David what do you think.
Well if I might add they may god he's been going on for seven months and has as -- just pointed out and I will -- Record high.
Levels in the stock market so I don't see either of them affecting what the market registers down on the street.
-- -- we really saw some big news breaking late this week on both of these issues and if this gets worse.
What do you think will happen to the market.
Well I do agree with Toby that it it could be viewed positively -- I think all we can do is look back at history -- I've embroiled in this same kind of -- saying it might be the same kind of thing under Nixon the market pretty much moved sideways that it might have been for a lot of different reasons.
But I don't think anyone is as much as it.
The right might not care for the current administration's policies I think anyone wants to see a whole scandal develop I don't think anyone -- it.
The -- scandal developed under Clinton we -- through got through it but I'd rather just have -- be ineffective rather than scandalous well.
Well that's issues John it's not so much that would that that Wall Street would -- -- -- scandal but they might hope that the Obama administration agenda might be and might not be further.
I think there will look at -- installed they've got such discord and -- to DC right now nothing's getting past.
All three of the last two term presidents about some -- -- scandal I Iran Contra Monica Lewinsky and weapons of mass destruction.
And -- -- -- greatly affected the market either way I don't think this does either.
-- what you think.
The you know it look.
If the -- can get money right or wrong from people not having to raise the general tax rate in theory that is good for the treasury is good for our -- and is good for the market.
That said this administration a lot of or not has been good for the stock market so you wouldn't want a -- present museum good returns in the market to be in a scandal that leave office -- a -- -- debt.
That would not be good for the stock market if he was bad for the market we are down 50% over last three years you did you -- -- -- be great -- this way it developed and we got some new leadership or whatever but I don't think that's the case.
-- well we -- we're gonna have this is stores aren't going away.
He had the mark probably needs a you know a little rest here anyway so we get -- right now that's healthy for the market don't confuse it with.
You don't have people voting against the of the market because of appeal -- -- prompts us.
Filter by section