tv Cavuto on Business FOX Business January 29, 2017 2:30am-3:01am EST
it. dagen: jonas. >> hollywood took on the gold mining stocks with the movie gold opening this weekend. if you skip people out of buying scamming individuals, people are going to buy funds. dagen: matthew is hotter than you, niel, is next. neil: well, only if he could sign a executive order for tax cuts things could be so much easier because while president trump has been putting pen to paper, putting our tax code to passture, well, that is another story. welcome everybody, glad to have you, i'm niel cavuto, while he's off to a very fast start, let's just say the big tax cuts more like distant starts. we are told they are still coming, maybe just not as fast as some had hoped. here is the plan the way it looks, slash corporate taxes first, go after individual taxes next. maybe squeeze in a trillion dollar or so infrastructure plan in between. so before all of this goes down,
hurry up and wait, time to get to it and now with charley gasparino, kennedy, ben stein, adam, but last but worried the most charles payne.you're nervo. [laughter] charles: i'm nervous because he's dealing with republicans, believe it or not. that's part of what the retreat is this weekend. you know, mitch mccoell, paul ryan, they have their own eas on how this money should be raised, how much taxes should go down and how much should be spent on infrastructure. they are worried about debt, at least they have, they have been singing that song for the last eight years. they have to articulate to the american public, particularly investors, doesn't have to be in the first hundred one days, that it's going to get done. if we ever lose that sense that it's not going to happen, then i think a lot of this great sentiment, excitement and enthusiasm that we should go up and i would like for them to
make sure they let us know it is reto active as well. neil: it might be. it's pushed back. the first signs were when they started saying it's not a hundred day it's 200 days. they are playing a little loose with this here. but if people want instant tax gratification, that does not appear to be -- charles: tax cut has no economic growth. i believe they do, i think there's empirical evidence and we can sit and talk about about it all day. i think the main reason why trump got elected president is because he offered a different economic future for economic growth than hillary clinton. she was offering more of the same, regulations, high taxes, we are going to cut regulations, cut taxes and get the economy moving, produce five, maybe 4% growth, whether you believe those numbers or not.
neil: since he targeted you for no reason. [laughter] neil: quite out of the blue. whether you like them or not, ben, is it safe to say that those who were rabbit about him are going to tilt a while? >> i don't think tax cuts have no effect at all. ic if he were to cut the corporate tax rate that would be a very good thing. it would immediately raise corporate earnings. that would immediately raise the stock market even more and -- thank you. that would be a good thing. here is how many people don't realize or at least some people don't realize. when the market is going up, only supposedly 50% of the people on stocks, directly or indirectly, the whole national mood is improved and when the whole national mood is improved, there's many buying, more spending, more going do into debt to buy things, and i would like to as corporate tax cuts go right away, there never should
have been a corporate tax, it should be tax directly to the owners of the company, the stock holders, so that, i think, does have some effect, having some effect on the economy, i say no evidence whatsoever but god bless you. i love your new jacket. i love your new jacket. [laughter] neil: daring combination. kennedy, the concern, though, seems to be and the reality of washington that things won't happen fast. if it happens in the first year, it's pretty good. but if it's going to be done in the order of corporate taxes then infrastructure plan, win over democrats, set the stage for personal tax cut, i mean, that's getting quite a mountain. kennedy: i don't think you're going to see as much growth with the infrastructure plan as you will immediately from the tax cuts and people like kentucky senator rand paul has been stressing along with physically conservatives like aei and the
heritage foundation. two different things that senators and various lawmakers are trying to contemplate, people also like how quickly the president is making good on campaign promises and they're getting use today that expeddency -- expedient and not only fulfills the campaign promise, but this is the one thing that could truly boost the economy quickly and people like rand paul, we can take care of the spending neutrally a little later on but right now let's get the economy going and get more revenue. neil: we are told that donald trump wants the big cuts out and we are also told that he can live with sort of a roll-out where the corporate thing is done first, but very keen getting the infrastructure thing because not only does he really want that but he thinks it's a
way of getting democratic support that could be teed up for, you know, a rate cut for all -- all rates, what do you think of that? >> well, and it may well help with the democrats as we all know donald trump once was a new york democrat on most of these issues. it's really as charles pointed out, the problem with his own party. rand paul sounds like he's playing ball, but huge numbers of house of representatives are going to say, no way, president trump you can't have your infrastructure spending and your entitlement spending that he does not want to look at social security and medicaid and medicare spending and have your tax cuts and, charles, you for a long time have been one of the biggest, the biggest budget deficit hawks that i know. you should be outraged about this too the way they are. charles: but i will say this and he goes back to what ben was saying, you know, the market was up 200% under barack obama in all-time high and the animal
spirits in the country were not stirred, i do think we need the tax cut for individuals watching the show, people working very hard, they haven't had a raise otherwise, let's spark the economy, let's ignite the economy and then let's deal with some of the other issues because i don't think you can put the card in front of the horse the other way. >> let's be clear, that's trump putting the cart before the horse. the talk of an infrastructure spending plan is how absurd it is. back in 2009, barack obama through the democrats proposed an 800 billion-dollar stimulus plan, he said it would take over the past couple of years it would take unemployment down, certain levels. targets were never reached. >> unemployment levels did come down dramatically. >> i don't think you can correlate the two. we had zero percent interest rates. >> one of the two things did happen. neil: he's pointing about what you're not pointing out and
you're pointing what he's not pointing out. [laughter] charles: this week president trump talked about the environmental studies, the regulations, things that -- no, no, to take -- >> that's not infrastructure. >> charles: to make it effective let's cut out the two-year environmental study that cost $10 million. ken cep let's go past -- neil: all right, we are going come back and make a larger point here. i'm promising you, remember ronnie and maggie, i want you to get ready for the sequel, donald and theresa this is the silverado special edition. this is one gorgeous truck. oh, did i say there's only one special edition?
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now back to cavuto. >> what do you say to viewers at home and worried about you becoming the leader of the world? >> this was your choice of a question. [laughter] >> people are fascinating to know how you are going to get along with each other. have you found anything in common personally yet? >> actually i'm not as fresh as you might think. and i can tell you that i think we are going to get along very well. i've had many times where i thought i would get along with people and i don't like them at all. [laughter] neil: you know that lasted about 20 minutes. i don't know if that broke any record time wise for press conferences but the average for barack obama was 60 minutes just answering the first question. to make the point that there's a new sheriff in town and it's almost like opening night at
caroline so kennedy i'm looking at whether you like or dislike the president or the prime minister, the fact of the matter is this things was very entertaining, you quickly knew where each was coming. kennedy: it was very compact. it was like astronaut food. it was loaded with nutrition in a very small bite-sized portion. and i'm fine request that. i would much prefer press conferences where something is actually said as oppose to the hour and a half minute yarns that the former president would spin over a couple of three questions. neil: it reminded me, going back in history here, like a john kennedy press conference where it was you didn't linger too long and if he didn't answer something, you moved on. >> like an efficient business meeting.
the ceo came in and he left. neil: here is my favorite part, she's still speaking. he does one of these things. [laughter] >> we are done. literally. >> some people i get along great. neil: i guess we shouldn't be surprised. this is his kind of -- his style . charles: he has a full agenda every single day. he starts with the tweets. he's nonstop, nonstop and had a chance at times to get involved and linger into this kind of stuff, let's move on, there's other things to do. neil: even on signing executive orders, our lawyer that would know the difference, normally we hear the president sign executive order, now he shows them. a quick show and tell. here is the document i'm signing, here is what it does. very unusual, unprecedented.
i don't know if it's good thing or bad thing. what do you make of it? >> explaining is a good thing, directness is a good thing and efficiency is a good things. i will leave it at that. neil: really? i wasn't expecting that. [laughter] neil: i don't know if it was a preview to coming attractions but you often talked about how the most success leaders could be self-depricating. is that the message coming out here? >> he sort of is. i thought it was a good press conference too. someone quarried me if this was a ronald and thatcher.
kennedy: wow. neil: is that necessary. kennedy: clownness. >> mrs. may is an impressive woman. i have been watching them on questions on c-span, i will do say that i hated the fact that obama was signing all the executive orders, that's not the constitutional way of i think to things. i don't think the way that mr. trump is doing it the the constitutional way of doing things either but thiss going to come out and a big legal issue and i agree of the fact that he's explaining. i probably shouldn't have said that -- [laughter] neil: you're watching c-span so what kind of credibility to you. [laughter] kennedy: ben just hit it out of the park. neil: he did. do you guys think, though, how we meet to another leader,
corporate let's go, go, go, that's getting everyone on your same page whether they are able to get on it or not, right? >> charles: true but that doesn't necessarily mean they are on the same page as you and maybe i think it's a cue to the reporters also. let's forget the questions that are designed to trap me, let's forget -- neil: that's what reporters do. charles: i know. the new marching orderers, if they want them to be effective, it's going to be short. neil: what about these two, to ben's point, i'm going to try to put it more nicely than he did that could it be a maggie thatcher or ronald reagan, different times, different folks, different ways of handling it? >> they have different issues. she was against brexit, he's for it. remember, thatcher, regan made the relationship great is there were four basic issues confronting communism. neil: he started out as a
democrat. >> he was a right-wing democrat. but i think, you know, what interesting about trump is -- neil: president trump. >> president donald is that if anybody knows him or deals with him, he's a personal guy, he's a charming dude and he can charm. neil: you don't have to watch c-span to know that. kennedy: walk out with some sort of a glowing review. >> i agree with that. he can do that. neil: ben has that. >> i will have to look up chuckles the clown, what he did wrong? >> chuckles the clown was the guy who died on the mary tyler moore show and we miss mary tyler tremendously. neil: two lectures you will never hear, me telling you to eat a salad and chicago rahm
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focus on issues that matters, at least that's what he said. it was hard to hear over the sound of gunshots, the mayor who is the one lecturing, charles payne, you're just not buying it it. charles: no i'm not buying it. he has serious issues and the last thing he should be concerned about is anything that donald trump is talking about with respect to crowd sizes or not. he's done a horrible job. just when you thought chicago couldn't get worse it's gotten worse. neil: adam, as a liberal, did that comment make you want to vomit? [laughter] >> i'm antilabel, niel. no. one thing that i findly highly distressing that there's a president tweets while watching television. neil: who doesn't? who doesn't? kennedy: multitasking, emmanuel was unserious.
he should be rolling up his sleeves and focusing on all the problems and crime they have in chicago. a lot of people in chicago who want jobs can't take them because they are dead. neil: fair enough. i was just kidding with adam. it is not fair, i think, if you've got a host of problems like that to be lecturing anyone. >> most investors, baseball players, football players when they are in a slump, they don't go up on tv and talk. >> this guy, ran emmanuel, amazing guy, 85 to 95% iletaracy and he's complaining about educational security as a problem for trump, this is ridiculous, chicago is a joke,
the federal government should take over the education system there and put in marine corps drill instructors. this is insane. [laughter] neil: thanks to kennedy and charlie. i want you to look at the reaction as the dow hits 20,000. look at the reaction. our guys had the names to get you jumping up and down. [cheers and applause]
ap-- >> so not individual stocks. >> if you don't have wherewithal for spdr's, then get in this. >> a federal government employment hiring freeze? >> except for the military. except for the military. david: president trump putting a freeze on federal hiring as it's hemorrhaging. will this stop the bleeding? let's go on focus with mr. steve forbes, elizabeth macdonald, john tamney and bruce. is this a good start? >> the key thing is follow through by the cabinets secretaries and budget for