** Charlie Gasparino Fills in For Tom **
Why are Warren Buffet, the White House and the left simply obsessed over taxing the rich? Are America's wealthiest really not paying their 'fair share'? And could tax increases on the rich actually hurt our economy?
(@3:06) Charlie talks taxes with former Ronald Reagan economic advisor Art Laffer
PLUS *BACK UP*: President Obama says he will reveal his jobs plan next month. Will it just be more of the same? What - if anything - can the government do to help create jobs? And what would the private sector and Wall Street like to hear from the President?
While Rick Perry is taking heat from both sides over his 'passionate' comments about the Fed, the Texas Governor does raise some very interesting questions about the US Central Bank and Fed Chairman Ben Bernanke. Is it time we audit the Fed? And is the Fed about to launch yet another stimulus?
(@4:05) Larry McDonald, president and founder of the McDonald Advisory Group and author of "Common Sense - the Inside Story of the Collapse of Lehman Brothers" joins Charlie to weigh in
THEN: Considering both its role in the 2008 Wall Street meltdown and then their decision this month to downgrade the US, Charlie wonders if the S&P has lost all credibility.
(@4:35) Richard Larkin, director of credit analysis for Herbert J. Sims & Co and a former S&P credit rating executive, joins Charlie to explain how the S&P downgrade will impact you, the economy and the rating agency itself.
Now that Rick Perry is officially in the race, does Iowa straw poll winner Michelle Bachmann have any chance of winning the Republican nomination? Wall Street Journal columnist James Taranto joins Charlie to size up the GOP contenders
Then... Both Perry & Bachmann are using religion to attract conservative voters. But how much of a role will religion play in 2012?