Guest:James Carville
"Voters now expect the GOP to improve things in America, so Republicans have to pass new laws that will help all Americans. About 70% of all American workers earn less than $50,000 dollars a year. If they get sick it's a disaster, educating their children is a huge financial burden, as is saving for retirement. So priority number one is to stimulate the economy. President Obama's policies and those of the Democratic Party have constrained private industry, and take-home pay has gone down on President Obama's watch. Republicans need to lower the corporate income tax to about 20%. That will give companies more money to expand, thus creating jobs. Number two, there should be a six-month tax amnesty on corporate money held overseas. Let the companies bring it back, provided it is invested in America. Third, raise the minimum wage, which will encourage young people to get into the marketplace and other folks to get off the dole. Also, the capital gains tax should be cut to 15%. That encourages private investment, so more money will flow into the marketplace. If Republicans do those things, the economy will surge, employment will rise, and so will wages. It would be a bad idea to try to repeal Obamacare. President Obama will veto the attempt, so it's a waste of time. How about immigration? First, the border has to be secured with a military presence and a high-tech fence. Then you can fairly deal with the people already here. If President Obama goes around Congress and legalizes the undocumented, Republicans should cut off all funding and make it impossible for the executive order to be enforced. Finally, on social issues like gay marriage and legal pot, let the states decide. If the GOP takes my advice and nominates an honest person to run in 2016, it will win. If Republicans continue to fight each other and do not compromise, the party will lose and President Hillary Clinton will be in the Oval Office."

The Factor solicited reaction from Democratic strategist James Carville. "It was a real thumping Tuesday," Carville conceded, "but now we go to work on 2016. There's an election every two years and I think Democrats will have a good one in 2016." Carville also put forth his own suggestion for helping lower income Americans. "One of the things that would help these people making less than $50,000 is to cut the payroll tax. That would put money right in their pockets." The Factor again endorsed a lighter tax and regulatory burden on private companies: "The income redistribution and quasi-socialism stuff isn't working. I want immediate relief for the economy and you have to start with private companies."

Guest:Ed Henry
President Obama continues to imply that he will soon enact an executive order to unilaterally "improve" our immigration laws. Fox News White House correspondent Ed Henry reported the latest on the confrontation. "On one hand the president is saying he wants to work with Republicans," Henry said, "but at the same time he says he's bulling ahead with an executive order. That doesn't sound like cooperation when you want to go ahead unilaterally. But the Republicans can actually supersede any executive order by actually passing a bill that focuses on border security. It's put up or shut up time for Republicans."

Guests:Andrea Tantaros & Nomiki Konst
Will the new Republican-led Senate find a way to work with the Obama administration? The Factor posed that question to FNC's Andrea Tantaros. "I don't think there's a lot of common ground," Tantaros said skeptically. "If President Obama was going to work with Republicans he would have done it after he was shellacked in the 2010 elections. He ran on a mandate that he would work with Congress but he hasn't done so." Nomiki Konst, co-founder of the liberal Accountability Project, blamed both sides for the gridlock. "We have a Congress that is not made up of leaders and we have a president who's an introvert and doesn't like politicking. They have to communicate with each other, but they're politicians and not leaders."

Guests:Kimberly Guilfoyle & Lis Wiehl
Legal aces Kimberly Guilfoyle and Lis Wiehl examined newly released emails written by John Morton, former head of Immigration and Customs Enforcement. "These are a series of memos from 2011 and 2012," Wiehl reported, "that basically tell ICE agents not to go after illegal immigrants unless they've committed felonies. The key words in these memos are 'prosecutorial discretion,' which is code for 'don't prosecute.'" Guilfoyle added that Morton's then-bosses are not directly implicated. "This could have from former Homeland Security head Janet Napolitano. There isn't a direct link that says it was under her direction, but this is in keeping with the administration's ideology." The Factor theorized that senior administration officials must have approved the policy: "Somebody had to tell him to do this, guys like this don't just write memos to federal prosecutors telling them to leave illegal immigrants alone."

Guest:Bernie Goldberg
Bernie Goldberg, of course, spent Tuesday night channel-flipping and analyzing election coverage. He specifically criticized NBC's Tom Brokaw, who lamented that President Obama "gets hammered" by Fox News and talk radio. "I'll stick up for Brokaw on one part," Goldberg began, "and that is that there are some talk radio shows that are vulgar. He has every right to condemn those. But, just as the voters rejected the phony 'war on women,' I think it's the same thing with the liberal war on Fox News. When Brokaw says Fox News hammered Obama, it just feels like an old and tired argument. If Fox News is such a bogeyman, why did so many Americans choose Fox News to watch election night coverage?" The Factor answered that question, saying, "A lot of traditional-minded people don't trust Tom Brokaw and his ilk."

Guest:Laura Ingraham
As reported previously, illegal immigrant Luis Monroy-Bracamonte, who had previously been deported multiple times, killed two police officers last month in California. Laura Ingraham reported that California Governor Jerry Brown did the right thing and attended the cops' funerals. "You probably had some effect on that," she told The Factor. "There are a lot of people across the country whose lives have been turned upside down by the fact that the federal government, in collusion with a lot of states, refuses to enforce immigration laws. Now we have two dead police officers, families devastated, and you bet the governor should go to the funerals." The Factor described the feds' policies as "horrible and irresponsible."

Those of you who voted Tuesday are the leaders of the country and you are honoring the nation's history and traditions.