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Howie talks to Steve Forbes

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Mon, 18 Jan 2010|

Former presidential candidate as well as chairman, CEO, and editor in chief at Forbes Media Steve Forbes will be with us to talk about his book How Capitalism Will Save Us: Why Free People and Free Markets Are the Best Answer in Today's Economy as well as discuss the current state of the economy and the Massachusetts Senate Race.

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Tags:

  1. new book0:37
  2. housing market4:24, 4:43
  3. medical care3:32
  4. Steve Forbes0:32, 2:32, 6:26
  5. Botox2:19
  6. Scott Brown0:14, 0:25, 6:03
  7. John Kennedy5:10
  8. eye surgery2:17
  9. health insurance plan2:22
  10. satellite radio4:38

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Automatically Generated Transcript (may not be 100% accurate)

to Massachusetts all day long in the the -- in trade site for the Massachusetts senate race have been covering a 5050 yards all day. The traders that in trade. Almost when went 6040. On a Scott Brown win just after Obama's speech in trade is a website where people vote with their money instead of the good intentions. In this morning in trade is showing the odds are now heavily in favor of Republican Scott Brown. 1877469432. To joining us now is Steve Forbes former. Presidential candidate of the Republican party's got a new book out he's gonna join us for a couple minutes here to talk.

Steve were you there yes I am not go glad to have you on the show what do you think's gonna happen tomorrow. How would you bet if you wore on in trade.

While I go that the right guy and suggests that when -- yesterday why can't stop Bryant went tomorrow.

You think he was Agassi was that much of an underdog as the jets' worst part now finally he's the underdog right now though. But -- just toward the underdog.

Sticky -- going to be turn out and who was gonna be counting the vote.

Yeah well I you know I think we know the turnout is going to be extremely heavy yeah and they were a few weeks ago predicting next to nothing but now looks like it's going to be everything.

Well I think Kevin racist generated intense interest. And they get through the whole thing we discussed in our book cut capital will favor is that. And health care we should start over and bring in more free enterprise. More patient controlled that a government control. You know when in the food industry we have specific programs for people can't get food food bank food stamps alike. But it doesn't mean we have the government running the -- Running for processing at the grocery stores we it would all be starving.

Well -- look at that look at -- you know -- there's a there's a government controlled economy pretty much and look how they look how well they've done even before the before the hurricane.

Soft government would achieve the Soviet see how it would've won the Cold War well.

What you all you I know -- say it's it's almost become a cliche dimension and now but the B got two forms of medical procedures that have come down in price in the last decade. Our were only sick eye surgery and Botox treatments and of course those are the ones that are not covered by your health insurance plan. And does so you know they when there is when there is competition. The prices have a way of coming down when there is no competition what happened Steve Forbes.

There's no competition the price goes up but you get less one of the people we quoted are booked a cap -- what sabres as a -- from Bulgaria. Who Riley observed these set for health care was free. What you couldn't get it.

Well NS TJ York's famous line goes if you think health care is expensive now wait until it's free.

But it just get the whole thing when free people are allowed to operate -- free markets were sensible rules of the road. They come up with constant innovations. New ways of doing things you mentioned there are two areas of health care. You know plastic surgery it's increased as you know the last fifteen years sixfold. And yet we have -- acute medical and technological advances and yet we haven't had the kind of medical inflation that we fed everywhere else. Why can't we get back kind of innovation in the rest of health care that a focusing on government focused on -- locked the door at this Steve Jobs of medical care. Of increasing the supply of more affordable cost as we did the food and everything else.

Martha Coakley says you know I know I know people are steered the seniors are scared about Medicare the kids are scared about you know having to pay -- find the young people have good health insurance plans are are more concerned about having to pay a 40% surtax. But don't worry. Don't worry you're wrong. We're gonna -- just fine and they had -- And that's why she's been dropping like a stone in the polls because guess what Steve as you well know nobody believes --

Well we saw the government did -- out and with Fannie Mae and Freddie and backed. We saw what is done with that Amtrak and this other things it gets -- Why why should we trust what health care that the people were asking.

Yeah I think you I. I think it is say Amtrak is a splendid success compared to the to the housing market and then -- and then the same -- the same people I -- Barney Frank on CNBC and you go on their occasionally -- see he's he's coming up with his new plan for financial rent regulations I -- and I just I'm yelling at the TV -- from watching live on satellite radio -- Haven't you done enough I think what it's not that you won't the housing market you almost put drove the economy off the cliff and not -- you wanna have more regulation you know what you're doing.

Well we've got a big debate after healthcare this year that is taxes the tax cuts of 2003 expire. Everyone's gonna get hit hard and they don't do something. So that's going to be a big source of debate and that once again Washington has this idea that raising taxes bring them prosperity of this forgotten completely. The lessons of both John Kennedy the tax cut for. Sixty and Ronald Reagan the tax cut the eighties. Vote unleashed great boom -- you allow people who will be free and employ their money the way they see fit guess what good things happen.

What about the lessons of the last year's state.

Well -- you know is this whole thing now in stimulus packet just. They've never work because as you know just be equivalent. Taking a bucket of water from one medical school pouring it in the other -- with some of the operation in between. It does not increase the supply of water.

The title of your book is how capitalism will save us.

three people on free markets of the best dancer in today's economy. Its workforce for over 200 years.

Steve make a pitch for it may make a pitching case there are any undecided voters left I'm not sure how many there are at this point in Massachusetts but why should people vote for Scott Brown.

They should vote for Scott Brown because you actually believe in people want to do sensible things on health care like -- of the patients make decisions. Not Washington. Reduce your tax -- that is increasing at. You understand what made this country move or Massachusetts what the charge 7075. And 76. That's -- you can do it again.

Steve Forbes thanks for -- this week appreciated and good luck with your book and I hope to see you win that next time you're here in Boston.

Well maybe we can get together for senator brown wearing a black hopes of -- fat boy that would be great. Terrific athlete okay if the -- thanks a lot Steve --