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| 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.
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"First, a couple of things about the GOP debate in California. The most entertaining moment came when Newt Gingrich told the moderators, 'I'm frankly not interested in your effort to get Republicans fighting each other.' The debate was carried on MSNBC, and almost immediately after it ended pundits over there began calling all the Republican candidates morons. Why did the GOP and the Reagan Library agree to that environment? And now, President Obama's latest attempt to save the American economy. It's called the American Jobs Act and it has some good points - continuing the payroll tax cut, tax credits for small businesses that hire people, and targeted public works employment. The speech was designed to put pressure on Republicans to pass a tax increase or face accusations that they don't want to create jobs. It is becoming clear that the President and the Democratic Party are going to hold fast to their belief that the feds can get us out of the economic mess by spending. But here's the no spin truth: If both parties really wanted to stimulate the economy, they'd reform the entire tax code. Lower corporate taxes, plug loopholes, a small consumption tax, and a flat income tax on workers that phases out deductions in return for lower rates. If that would happen, the economy would rocket."
The Factor invited Fox Business anchor Lou Dobbs to assess the Talking Points Memo and the President's jobs plan. "That tradeoff that you articulated is precisely on point," Dobbs said. "Trade in those deductions and get rid of the loopholes and bring down tax rates. But I disagree with you on the consumption tax. And Bill, you realize that you've already given more details on what you would do than the President did in his 34-minute address. But it was the best speech of his presidency." The Factor agreed that President Obama's speech had some good points but lacked specifics: "This was a speech to rally the folks, this was a speech to say I'm still in charge and I still care. I didn't like that it put politics ahead of the working person." |
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| White House spokesman Jay Carney entered the No Spin Zone and outlined the thinking behind his boss's jobs plan. "We believe that if we are going to address our serious economic problems," Carney said, "we need to do it in a balanced way. The President will submit a bill early next week, the American Jobs Act, that will specify how he proposes paying for the act. And the following week he will put forward his comprehensive proposal for significant deficit reduction and debt control. The President believes that everybody needs to bear the burden and share in the prosperity." The Factor pointed out a glaring contradiction in the President's call for more manufacturing in America: "Sitting with the First Lady tonight was Jeffrey Immelt, General Electric's CEO, who moved his airline division and his medical technology to China. Jeffrey Immelt! It doesn't look good. You should have thrown him out!" |
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| Fox News correspondents Carl Cameron and James Rosen evaluated Wednesday's Republican debate and its likely effect on the race. "There's a consensus on the losers," Cameron said. "Michele Bachmann, who has been slipping in the polls since Rick Perry got into the race, did not have a breakout moment to shift the momentum back in her favor. Jon Huntsman, who has been mired in the low single-digits, took shots at both Romney and Perry but it didn't resonate." Rosen opined that Mitt Romney was most effective. "I think Romney demonstrated something that was in doubt, which is that he can go on the attack, and he handled his attacks on Perry in a classy way. And I think Rick Santorum perhaps advanced his fortunes." Cameron also reported on a Texas-sized feud between two candidates. "There's a real blood fight going on between Ron Paul, the Congressman from Texas, and Rick Perry, the Governor of Texas. At one point during a break Perry walked over to Paul, grasped his wrist, and really got in his face." |
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| The Factor welcomed Fox News contributors Andrea Tantaros and Kirsten Powers, who also analyzed the President's speech. "This was purely political," Tantaros declared, "and Republicans are not going to support this plan for two main reasons. One, because it is political and, two, it won't work. The payroll tax cut is the only area where they might compromise, but that's not big enough to do the job." Powers defended President Obama's habit of repeatedly mentioning billionaire Warren Buffett. "The point that he's making is that there is major income inequality in this country and that the rich aren't carrying their fair share. Warren Buffett's effective tax rate is less than his secretary's, and that is the point." |
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| During Wednesday night's Republican debate, moderator Brian Williams asked Governor Rick Perry whether he sleeps well despite the many executions in Texas. The Factor asked Bernie Goldberg to judge the question's fairness. "I'm sure Brian Williams would say it was fair," Goldberg said, "so let's turn the tables. Let's say a conservative journalist was questioning liberal Democrats running for president and said, 'All of you have voted for abortion rights, do you struggle to sleep at night knowing that abortion ends a process that otherwise would result in a human being?' That question is clearly loaded and any journalist asking such a question would rightly get whacked. Well, Brian Williams did ask that question about a different controversial subject." Goldberg also ridiculed MSNBC's post-debate panel of analysts, joking that "the panel consisted of five analysts that ranged from the far left to the far, far, far, far left." |
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| The Factor has criticized Warren Buffett for claiming he pays a lower effective tax rate than his secretary. Economist Ben Stein entered the No Spin Zone and vigorously defended Buffett. "He is the greatest chief executive in America," Stein declared, "and he delivers phenomenal returns for his shareholders. He employs over 200,000 people and I do not know why you keep attacking him." The Factor reiterated that Buffett is being disingenuous: "He pays capital gains tax and you can't compare that to income tax. Raising capital gains taxes in a recessionary environment is insane!" Investor Wayne Rogers pointed out that wealthy Americans already shoulder an inordinate amount of the tax burden. "The top 10% of earners pay more than 50% of the taxes and the top 3% pay for as much as the other 97% combined. So who is to say we should raise their taxes, who is making that decision as to what is fair?" |
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Dave Neff, New Windsor, NY: "We all know that Ron Paul is extreme. But maybe extreme is what we need at this point."
Catherine Murphy, New Port Richey, FL: "Bill, you were gracious to Ron Paul after he said you weren't a journalist. The remark was too inane to take seriously."
Bill Smith, Russellville, TN: "I belong to the Teamsters union. Jimmy Hoffa does not speak for me." |
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| Thursday's Pinhead: The thief who donned a 'Gumby' costume and tried to rob a 7-Eleven outlet in San Diego. |
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