Bill O’Reilly and Jon Stewart. (The Daily Show)

At least, in theory.

The two actually engaged in a heated argument about taxation, class warfare and muffins.

Stewart immediately challenged O’Reilly’s claim that he would quit his show if President Obama raised his taxes to more than 50 percent.

“What percentage of that threat is empty?” Stewart asked. O’Reilly joked back, “All of it,” before explaining that he wants his tax money to not be wasted.

As an example of wasteful spending, O’Reilly also brought up Solyndra, the solar panel company that filed for bankruptcy after receiving a federal loan guarantee, and the $16 muffins that the Justice Department supposedly bought for a government conference. That claim has since been clarified by the Associated Press, which reported that the cost also included fruit, drinks, tax and tips.

But the discussion really picked up in a clip that was only on the web, in which O’Reilly and Stewart got heated over taxes.

O’Reilly said he thought it had been a good 20 years for the wealthy. “Look, I don’t have any sympathy for the pinheads who were stealing money, and doing all the derivative selling, and doing all the day trading. I don’t like these people,” he said. “And I think there should be government watchdogs that set up rules.”

“So you’re a Democrat?” Stewart asked. “On that I am,” O’Reilly answered.

But that’s where the two parted ways ideologically.

O’Reilly argued that the government isn’t effectively watching how tax money is spent and should be downsized. He would also like a “consumption tax” so that, for example, cocaine dealers will be taxed when they “buy their Bentleys.”

“So in your mind, the debt crisis is caused by renegade cocaine dealers who are avoiding their social responsibilities?” Stewart said, sounding a bit exasperated.

They then argued about the tax rate in the ‘90s, which Stewart argued America should return to.

“We shouldn't act like returning to the tax rate of the ‘90s is class warfare on par with Lenin and Marx!” Stewart said ,before doing a victory dance.

Watch the edited segment below. The Web only version of the interview, which cannot be embedded due to NSFW language, can be watched here.