tv After the Bell FOX Business August 12, 2015 4:00pm-5:01pm EDT
ready to sound on wall street after the dow tumbled over 27 points this morning. take a look at this. as we close out, major averages ending the day. [closing bell ringing] dow trying to get in positive territory. not makes it but still very close. technology and energy leading the market rally. the s&p was down 32 points. the nasdaq was down 91 points. turning it all around, david. david: the story was the comeback. they clawed all the way back. while markets wait for tomorrow here is everything you need to know right now. hillary clinton's email server in the possession of fbi forensic experts who will try to discover if any national secrets passed through her personal server in violation of law and contradiction of statements made by the candidate her self. fox business's blake burman in washington, d.c. with the very latest. blake, how long has the fbi had the server? >> according to judge andrew
napolitano, that server with related thumb drive has been in the hands of the fbi for a week and they even took control of the thumb drive showing up to the office of clinton's attorney. that is a bit of a different picture that the clinton campaign painted yesterday when they sent out a statement, clinton, quote, directed her team to hand over the items. as fbi continues its investigation into the handling of clinton's email according to senator chuck grassley the intelligence community inspector general delivered a briefing to members of congress detailing two emails that passed through clinton's private server during her tenure as secretary of state. were top secret that is the highest level of classification. ig says two other emails contained classified information at the time they were sent. that is important because clinton initially said her system never handled classified material. despite the independent report from the ig, the state department appeared to come to clinton's defense this afternoon
by contradicting that report. take a listen. >> these emails were not marked as classified at the time they were sent. and both of which they were received obviously by secretary clinton. they weren't sent by her. but none of them were classified at the time. >> reporter: off of that we point out an intelligence source tells fox the ig's office has asked the state department to turn over all 30,000 emails clinton handed over to state but clinton's old department is pushing back on that request. david, that source tells fox that this is become a concern to the director of national intelligence, james clapper. and that clapper is ready to step in if the stonewalling continues. david? david: wow, a real fight. hopefully the fbi will get to the bottom of it. blake, thank you very much. back to the markets. big swings in the markets today, climbing back this afternoon after the dow tumbled over 277 points. let's bring in jonathan hoenig
from capitalist pig hedge fund and a fox news contributor and kimberly lawson, imperial wealth management. jonathan, i'm getting a sense at least what happened by end of the day the market already discounted the china factor. what do you think? >> david, great example, how it is not over until the final bell rings. this morning as you pointed out it was an absolute bloodbath. nice to see for bulls the resilience being able to come back. keep in mind, however, put it in context, market has been down nine of the last 11 days. some sectors like china, oil, commodities, even u.s. growth stocks have been heavily slowed i don't think the trend has changed. european stocks had worst day of the whole year. great to see it come back but you have to be careful in terms of breadth and everything else i think a very we can -- weak market.
david: kimberly how does this double devaluation plays out for u.s. companies. they are betting on growing middle class. devaluation kills middle class, kills value of their savings and value of their paychex. this really retards the development of the middle class. therefore if you're betting on that development you lose? >> there is no doubt that this china devaluation will hurt the global economies and u.s. markets as well. that is the big question, david. which just don't know how this will all play out. because china embraces capitalism, doesn't mean it will help their society or the global middle class. the bottom line, investors should be prepared for with defensive portfolio. in my opinion. what we're doing is incrementally buying on the dips and adding to the portfolio with allocation.
david: you have to be specific, jonathan. i would think you avoid the stocks that do have big exposure in china because, i don't think it is over in china. this drip, drip of slow devaluations eventually ends up in one big devaluation. >> you are right. in fact, look at some of the stocks that have been getting killed for the last few days. it is luxury-oriented retailers, those big brands which depended on a lot of sales in china. our guest mentions capitalism in china. in china i wish it was, david, because it is common knowledge that some much china's economy and so much of china's market is directly influenced and manipulated by that government. david: we've seen that happen in the past couple weeks. kimberly, that's the point. they certainly are much more capitalist i can than during the days of mao but it is still a communist government and they still try to control the markets. >> absolutely. that is my point, david, exactly. people get confused just because they're capitalists they think
they're democracy oriented as well but they are not. they will do whatever is best to drive the markets higher, regardless of middle class or investors across the world. that sort pa you have to be defensive about, you have to be defensive in the portfolio. watch the stocks you have in portfolio that can be affected by that. david: quickly from each of you, what do you think will happen overnight in china? first to you, jonathan? >> david, honestly i don't know, hard to sate next 12 hours. the thing that is on my radar real quickly i will say, high yield and junk bonds and leverageed loans. the subprime loans of the credit world. david: kimberly, one or two words. will we have another devaluation in china, yes or no? >> i don't know. i don't know. david: you don't know, three words. we've got to leave it at that, jonathan, kimberly, good stuff. we have breaking news. melissa: cisco out with fourth quarter numbers. ashley webster has details.
>> we do. the tech bellwether has been on an up swing, melissa. let's get to eps. coming in at 59 cents. the estimate was for 56 cents. we have a beat on upside at 3 cents. revenue at 12.84 billion. the estimate was 12.65 billion. we have a beat on revenue side as well. we're seeing the stock spike up nicely now in after-hours trading. it did lose ground earlier today before regaining much like the market did overall. a beat for cisco, big tech company on top and bottom, guys. back to you. melissa: ashley webster, thank you so much. shares of alibaba hitting a new low after reporting a miss on earnings. china's big e-commerce company reporting the slowest revenue growth in three years. the ceo responded to the stock's dive on fox business earlier. >> as we always said, we manage our business not by share price. we manage our business for the long-term growth. we feel comfortable with the
long-term growth and we will continue to try to create value for our customers and merchants. melissa: macy's shares also tumbling on heels of disappointing earnings. the retailer cutting full-year sales guidance as well. ceo terry lundgren told maria bartiromo, it has been a tough quarter. here is what he said affected the company's bottom line the most. >> we benefited more good times with dollar weak and tourists are here and we're hurt in times like this. frankly consumer is spending money in different places. they're buying houses. they're buying automobiles. health care is more expensive and downloading every possible app. at some point in time they will finish that and get to our categories and i'm hoping it will be second half. melissa: hmmm. kraft hinds will cut 2500 jobs in north america -- kraft-heinz. the food giant is looking to eliminate positions and budget
cuts as two companies begin to emerge. latest details on the toxic chemical spill in colorado and the potential legal action. ew. that is brewing. david: looks pretty awful, doesn't it? cracks in "the donald's" lead. why there is concern for trump in the very latest poll. we'll tell you about that. melissa: "deflategate" day in court. tom brady appearing before a federal judge. hear how the nfl commissioner was received. not welcome by patriot fans today. >> liar. liar. [booing] ♪ can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul?
was sorry for the incident, but, her remarks fell short of taking blame for the incident. that isn't sitting well with local governments of the at least three states a affected by the state are considering legal action against the agency. how will that turn out? gregg jarrett, who is lawyer will talk about the legal issues. talk about the political side first, not even the democratic governor of colorado is defending epa anymore. new mexico's governor, martinez is suggesting that the epa actually withheld information from the public about the spill. let's play the clip. >> initially we weren't even told that the toxic spill had ended up in the river. it took them about, a little less than 24 hours before they even told us, number one. number two, we're not told what toxins are in the river. actually, didn't even come from the epa. david: this is inexcusable for the epa to withhold information from the states that might protect the state's citizens. >> you know, not as bad as a
nixon cover-up but it is close. withholding information when people's lives may be in jeopardy here is unconscionable and i think these two governors you spoke of, who initially came out, hickenlooper said, well, e mistakes, gee, it is okay, they heard from their constituents who are angry and fearful and they flipped as a result. david: as well their constituents should be. i'm wondering if the epa withheld the information because they're trying to set themselves up to be immune from lawsuits? >> i think initial reaction is always to deny, deny, and to hide. but look, it looks like tank in rivers of tang. i'm dating myself with that. it is awful and, as a consequence, they just couldn't cover it up any longer. finally the epa administrator admitted negligence as well she should. there is negligence in failing
to respond promptly to notify those in harm's way. there is double negligence. david: the idea, that the epa is almost lawsuit proof, they have some lawyers, that is essentially what the epa is, a sea of lawyers, that they can hold up any lawsuits for long enough, finally the heck with it, i will settle with you. >> but the epa administrator did the plaintiffs here a favor. david: how? >> because she came out and admitted guilt. so now it is all about damages. david: she didn't admit guilt from the epa she said we apologize, but it is not -- didn't necessarily it was because of epa this happened? >> well she came close enough. it would be a fool's errand for her to claim we didn't make a mistake. that we weren't reckless and negligent in breaching this debris dam because clearly they did. it was an independent contractor hired by epa the epa was supervising. there are plenty of witnesses. we see the results. david: unlike a lawsuit against a private company, a lawsuit against the epa means federal
taxpayers will be footing the bill. so you're borrowing from peter to pay paul. that is, the federal taxpayers are going to pay, so are the state taxpayers. >> congress would have to approve money for payout. it will not be in epa budget. there will be plenty of business, individuals who have been harmed. states that have been harmed. native-american reservations have been harmed. they have lawsuits. they file them under the federal tort claims act. yeah, you got to jump through hoops but you can sue for negligence under the tort claims act. >> wait until somebody is injured because of this water. if that happens, katy-bar-the-door. >> part of the problem is, injuries from toxins may not be seen or discoverable for four to six, to eight. what about two year statute of limitations? you have to argue it is suspended until harms are discovered. david: gregg jarrett, thanks very much. melissa. melissa: stories on our radar,
two people were injured after a military helicopter made a hard landing on a ship off the coast of japanese island of okinawa. the other 10 people on board were not hurt. the incident is under investigation. hackers claiming an affiliation with isis posted what they say is the personal information of hundreds of government and military members. the army's top officer, general raymond odierno disputing the threat this afternoon. >> this is the second or third time they have claimed that. first two times i'll tell you, whatever list they got, were not taken by any cyberattack. they were kind of lists that were really off to the side. right now, so far, i have not seen the list myself but what i believe this is no different than those other two times. melissa: and dozens of people injured after a warehouse explosion in northern china. according to state media reports the blast ripped through the warehouse that stored quote,
dangerous goods. shattering windows and sending flames into the sky. wow. look at that. so far no deaths have been reported. david: looks like the end of the world. controversy snarling hillary clinton's 2016 campaign. our panel weighing in on the new frontrunner dems are eyeing, yes, that's the man. a message written in the stars tonight. spectacle of lights you don't want to miss. all details so you won't miss it coming next. ♪
perseis, spectacle of light occurs every august, when there is dust and debris from specific comet. it is best viewed in the northern hemisphere and peak early on about three a.m. eastern tonight, thursday. -- 3:00 a.m. viewers expect one shooting stars every minute. sometimes you get clusters of several in a minute. we're looking forward to that. melissa: yeah, definitely. get the telescope out. you soon may get a closer look at the stars without a telescope as private companies look to making space travel more common for the brave. this out of the world idea may mean flights taking off from the local airport. here to explain it all, fox news correspondent jonathan serrie. my son is dying to do this. me, not so much. >> reporter: imagine if your son or mine could go to the local airport and watch a spacecraft come in for a landing? it could be a getting a little closer to reality.
private companies and investors are trying to make space travel more routine. space travelers landing at your local airport. sound like the distant future? maybe not as the commercial space race takes flight. >> like going back to the 1960s where the u.s. and russia were competing for space as countries. now it is a commercial environment and no longer countries competing but the commercial industries. >> reporter: sierra nevada corporation is developing dream chaser a vehicle resembling the nasa original space shuttle. dream chaser is a lot smaller than the space shuttle. theoretically is could land on any median runway capable of handling a jetliner like a boeing 737. studies are underway whether dream chaser can land it at airport in huntsville, alabama, placing it minutes from numerous space centers and laboratory. >> it would be the first commercial landing site for a spacecraft which sin credibly
excited for rocket city. >> reporter: the first, but not the last. robert braun says communities around the u.s. are planning spaceports and other investments in the final frontier. >> one thing i will say with certainty, we will send more humans into space in the next five years than we have in the past 50. >> reporter: back in alabama studies must first determine dream chaser's impact on things like air traffic, the environment and runway and airport operations. if all goes well, space could be added to that list of arrival cities at huntsville international airport, perhaps within the next five years. back to you. melissa: that is unbelievable. jonathan, thank you so much, i think. although my kids will want to go. david: your son is a brave guy, i want to say. tough little guy. melissa: straight out of touch. republicans latest attack on hillary clinton as former secretary of state turns over
her private email server. david: not without with a little arm-twisting. rooting for the home team. baseball's historic day. we'll tell you why it is historic in a moment. the promise of the cloud is that every organization has unlimited access to information, no matter where they are. the microsoft cloud gives our team the power to instantly deliver critical information to people, whenever they need it. here at accuweather, we get up to 10 billion data requests every day. the cloud allows us to scale up so we can handle that volume. we can help keep people safe; and to us that feels really good. will you be a sound sleeper, or a mouth breather. a mouth breather!
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at ally bank no branches equalsit's a fact.. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. melissa: to protect and server. hillary clinton turning over here private server to the justice department where it reportedly contained private emails.
she was asked whether she ever sent classified information. take a listen. >> i'm cost that i never received or was classified at the time it was sent and received. melissa: note to self, when denying criminal activity don't wear prison stripes. here is steve moore from the heritage foundation. also a fox news contributor. nomi prins, senior fellow from demos. michael goodwin from the new york post. he is also a fox news contributor. so here's my question. she is sending these documents back and forth. we know that she had to take a course when she first started at the state department saying here is what you can and can't send. she had to take a course and sign a document that she understood the difference. so why would she violate that? why would you do that? michael, let you to first? >> look, because she said for her own convenience is why she had a personal server. what she meant of course, she didn't want anybody to know what was on it. i have argued all along, it is of course about congress and the
media and therefore the public but also the white house. she didn't want other people in the state department put there by the white house this is very secretive person to the point of paranoia. she didn't want anybody to know what she was doing or meeting with unless she wanted to tell them. melissa: nomi, that is one reason. you go through all this trouble to break the law. why are you breaking the law, nomi? what is she hiding? >> first of all she is on the mission to be sort of above what else is happening in washington which has been kind of typical of a lot of the clinton activity. she also has gone against the presidential records act of 1978 and earlier incarnations of that because she made the unilateral decision by herself, having signed those documents and being part of the executive branch which is covered by the act to determine she gets to be outside of the branch, outside of the white house, outside of the state department in order to do whatever it is she is doing. therefore also deny american
history and future secretaries of state the ability to look back at records and make those decisions. >> okay. what do you think she is hiding? she is breaking the law to hide something. i'm trying to imagine what it is before we find out if we ever do -- they get closer every day. i'm not going to believe it until we actually see emails. what do you think we'll end up seeing, steve moore? >> i don't know why she did it. i can't even speculate why she did it but i do know this. i spent the morning talking with people that have high-level security clearances. they were aghast at this, man and woman i talked to. melissa: we have to pause. we have earnings release. it is important one. news corp reporting fourth quarter results. ashley webster with the numbers. ashley. >> yes i do, melissa. start with earnings per share. the estimate was for five cents. came in at seven cents. have a 2-cent beat there. revenue coming in a little short. revenue was 2.19 billion. came in at 2.14 billion.
slightly under on revenue. a slight beat on earnings. news corp, parent company of "the wall street journal." dow jones, market watch and so on. so, a little shy on revenue but beat on eps. as you can see the price after-hours. just down a little bit. slightly down from the closing price of 14.12. guys, back to you. melissa: arcly, thank you so much for that. burn baby bern. bernie sanders surging ahead of hillary clinton according to a new poll by the boston herald. the poll is the first to show sanders ahead of clinton ahead in the granite state. nomi, i understand you attended one of these ramlies are that monstrous for bernie sanders. talking about 27,500 people in los angeles on monday night. i think that is the one you were at. hillary clinton said herself her most populated one had 5500 people. five times as many people
showing up for bernie sanders. what is going on? >> first of all, she is not going to big stadiums, because she knows she can't fill them at this point. that would be embarrassing. what is happening, i think at the bernie sanders level, i was at the l.a. one, it was massive. there were lines around the arena going several times through it to wait to even get into this thing. he strikes a core of honesty not just to the democratic progressives but also to people who are just disillusioned with the entire political process. though he has been a senator for so long, the perception comes across he is being so genuine, people really respond to that. so the passion in the room was like that of a sort of rock concert passion but there was also a lot of facts that he gave out. it was kind of, he was in position both talking about actual real policy as well as his honest assessments of jobs, he didn't sign iraq war. he can stand on principles and
on a platform he always had. i think people really admire that -- melissa: let me get other folks in here. michael, sound like, when she started you could talk about trump. people incredibly dissatisfied with the political process. although he is in office, i don't know how he is can rally that kind of excitement. he is a socialist. what is going on you see in both parties? people seeming to prefer the person not part of the process? >> i think in many ways these are protest votes against the standard candidates and for bernie sapped is this is clearly a protest against hillary clinton. in many ways reminds me what obama did to her in 2007. bernie sappedders is in no way barack obama. the authenticity she lacks he has like barack obama did. melissa: we're looking at these people coming from the outside, what do you think? >> god forbid that bernie
sanders would become president. look i don't agree entirely with this analysis you're all talking about. i think reflect what is the bernie sanders meteoric rise represents the kind of lunatic left taken over the democratic party. bernie sanders is lunatic. he wants to raise taxes to 70%. he would decapitate the american economy. whether donald trump could win. i think he could. i don't think it is probable. there is outside shot, he tapped into something really big, not just republican, it is independent. so i wouldn't count him out. melissa: we'll leave it there. although i bet nomi has the problem with the idea of lunatic left comment. we'll take it as protest from you. david: ask her to respond later in another segment. tom brady, roger goodell facing off in the big apple today in the "deflategate" courtroom. who is looking like the early winner? check this out. mickey mouse's tiniest little fan taking a trip to the
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to learn about spiriva respimat slow-moving mist, ask your doctor or visit spirivarespimat.com david: well new england patriots quarterback tom brady expected to leave federal courtney moment after going head-to-head with nfl commissioner roger goodell in court over the "deflategate" suspension. latest from shape happen who is right -- adam shapiro, outside of the courthouse in lower manhattan of the adam. >> that's right. we're waiting for tom brady and lawyers for mr. brady as well as players association, the union and nfl leave. you can see a live shot from another camera. there is a mob of reporters and football fans who want to see mr. brady come out. whether they reach ad set meant, no word yet. this is all about a settlement conference. this morning when they went in, a bit of a different story.
tom brady went in. quiet, went in, stoically, no emotion. but when roger goodell went in they were yelling liar and booing the commissioner because he suspended brady for four games. this is essentially a civil case but it was about, you guys have to settle. he is trying to make them to make their own decision, settle this case as opposed to a four-game suspension, come up with some other compromise. he had pointed questions that showed weakness in both sides arguments. in other words the judge asked the lawyer for the nfl about the authority for commissioner to do with the suspension when there was no direct evidence that tom brady took part in the quote, "deflategate" scandals to deflate the footballs at acf championship game. on the other hand this is not issue whether he did it or not. the issue here is a labor contract dispute. he went after the union and asked a series of questions which union said and responded to, look, in previous
experiences mr. brady would have been fined, a financial fine but not suspended for four games. that is what is at hand. they have been talking all day to reach a settlement. as of yet, they haven't. we're back here on the 19th for arguments. he will make a ruling. chances are everybody loses if the judge make as decision. david: don't want everybody to lose particularly the fans. adam, thank you very much. melissa. melissa: headlines coming out of the courtroom, to help brady's case, judge berman saying quote, i'm having trouble finding evidence of the alleged football deflating scheme involving brady. there is quote, a question in my mind related to the independence of the investigator, nfl investigator ted wells. let's bring in j.t. the break from fox sports radio. we have dan kaplan of sports business journal. you were in the courtroom. >> i was. melissa: there is a lot of reason for patriots fans to be hopeful today. what did you hear to think he
may be back on the field? >> judge berman prefaced this don't read into this and spent 45 minutes grilling in the nfl and spent 20 minutes grilling the nfl-pa lawyer, jeff kessler. they thought it would be about process. did the n if. l have authority. the evidence wasn't important, it was whether they didn't follow the rules. judge berman was very interested in the evidence. he was very interested in why the nfl felt they should suspend tom brady when there was no direct evidence. melissa: mr., the brick, nfl seems stuck keeping a suspension in place and tom brady doesn't want any of night ultimate game of chicken. comes to federal court in new york. what i find interesting today, not being in the courtroom, the judge and reaction to lack of evidence and evidence that can be directly tied to tom brady.
on sport radio that is a big win for tom brady today. but if it is supposed to be fought correctly in judge berman's courtroom, eventually roger goodell has power through collective bargaining agreement to have the authority to rule against brady if he feels that brady did not cooperate. you can't tie this directly to brady. but a lot of people believe brady knew something bit and didn't cooperate freely in the wells report. melissa: yeah. >> i think that is the key. today was a big victory for brady. melissa: dan, we saw a headline come out saying he didn't concedes that he didn't treat his phone right or texts behavior, i don't have the direct quote but something to that effect. was the judge's opinion that you come to a conclusion or i will settle it and you won't like it? >> judge usually try to scare sides into settlement. they appear to continue into settlement talks right now. it was interesting on the point that the brick just mentioned -- melissa: i call him mr. the
brick. >> is there a mrs. the brick? melissa: not get into that. go ahead. >> in terms of electronic communication, the lawyer for nflpa essentially threw under the bus tom brady's personal agent who was the one who counseled tom not to turn over his phone and electronic communications. that was interesting. he was saying to the judge, yeah we made a mistake. it was not tom's fault. melissa: we all know agents are expendable. you can find another one in the very next worn corner. before you go, does tom brady take the field on september the 1th. mr. the brick, does he take field? >> i don't think so. if nfl loses appeal and roger goodell goes from four to zero. it is black eye by nfl they get beat by tom brady. brady will miss a game. this is good day for brady taking it from 4-0. melissa: dan, what do you think? >> i think he plays opening
game. we'll play the tape to who is right. we'll see if tom steps up to the mic. j.t., we'll can't leave this segment without talking about this idiotic thing, new york jets quarterback gene mow smith out six to 10 weeks because he was sucker-punched by a former teammate in the locker room? this was all over 600 bucks. is this stupid and ridiculous as it sounds? >> it is awful for the jets and career for gene mow smith in the short term. shows lack of leadership. gene mow smith wasn't respected in locker room by fringe players all the way to the leaders in the jets organization. said no one deserves to be sucker-punched and accosted in their place of work. that's what happened here and now the jets have a quarterback with a little bit more experience. it could be addition by subtraction. the jets could be better for the move but it is sad geno smith had his jaw broken. no one deserves that in the work place or anyone else.
melissa: dan? >> bills hit the player, rex ryan, former coach of the jets picked up the sucker puncher. melissa: breaking news. david: we have breaking news about former president jimmy carter, making a shocking revelation, the 89-year-old president has cancer is that is spreading and he will seek treatment. recent liver surgery reveal i have cancer in other parts of my body. i will be rearranging my schedule as necessary. so i can undergo treatment by physicians at emory health care. more complete public statement are made when facts are known possibly next week. emory health care is in atlanta. it is the top hospital in that state for cancer treatment. jimmy carter will be 91 on october 1st. ieve more. it pushes us to go further. special olympics has almost five million athletes
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melissa: whether on wall street or main street, here who is making money today. elvis, the king of rock and roll will be honored by the u.s. postal service with a new stamp this week. this is the second time elvis is recognized via mail which has been bestowed only on the likes of martin luther king, jr. and former presidents. major league baseball made history for the first time in the history of america's pastime. all 15 home teams won in their stadium last night. that was incredible. kfc's latest creation, pink and black burgers. oh. that's right, kfc is selling bright pink and black burgers in china where the food chain's sales have been collapsing for the last three years. this will fix it. the sandwiches are called, rose cheese chicken leg roast burger. are you making this up?
is this a real story? along with a black diamond spicy chicken leg burger. this can not be real. i think it is. it doesn't look so good though. over to you, david. david: when it is pink when you throw it away, right? donald trump is slipping in at least one state's poll. the latest franklin pierce university "harris poll" is trump at 18%, down more than 10 points from previous numbers. meanwhile a paper got a sneak-peek at his economic plan such as it is. here to weigh in, steve moore, nomi prins and michael goodwin. michael, what do you think about the poll? >> i think numbers bounce around a lot in early going. headline risk as you say about the market. there is a headline risk in politics too. i think these numbers will bounce around. for trump he is still in front. he is still the person out there. until we see somebody else take the lead in any poll we have to
say he is still the frontrunner. david: we still don't know precisely what his economic plans are in addition to other plans. steve moore, you have been mentioned personally as one, along with steve forbes and other folks that the trump group sort of reached out to help devise plans. you've done economic plans before. flat tax for rand paul. "investor's business daily" just came out with a sneak-peek at his 14-point economic plan. do you know anything more about that? >> well, you know i did get a bootleg copy. by the way i didn't write it but i analyzed it. there is a lot to like about that plan. he calls for reductions in the corporate income tax, things that you and i would love. reduction in the capital gains tax. david: right. >> he talks a pro-energy, pro-america energy policy that is very pro-shale oil and gas, something i care a lot about because i think it is hugely pro-growth. one misgiving i had bit, when i looked at this there are these
shades of protectionism where he says, i'm going to cancel trade deals if they don't work for americans. so i'm wondering what he is talking about? is that nafta? is that the pacific trade deal they're negotiating right now? as you and i know, david, free trade is good for america. it is pro-growth. david: forgive me, i want to focus on you for a second steve because you've seen this. what about individual tax rates? the folks out there care about their own individual rates. does he understand the importance of across the board tax cuts? >> looks like he does. this was a draft of this 14-point plan and he talks in that, there one of the planks in the plan is to reduce individual income tax rates. i don't know how low they were go but they would go lower. what i didn't see in the plan was how they would pay for all this he says cut corporate taxes, cut capital-gains tax, cut individual rates. i don't know where the revenue is but i did see, there is a hint of this, again this is just a draft, that it would be paid for by some kind of a tax on imports.
david: nomi, so far, all we had coming out from democrats is raising taxes, at least from bernie and hillary doesn't want to be seen as being too far to the right of bernie so she is talking about raising taxes. the u.s. used to have one of the lowest corporate tax rates. the barriers to growth for small businesses in particular used to be very low in the u.s. right now we've got the highest corporate tax rate in the industrial world. is any democrat going to be talking about lowering those rates, making the u.s. more business-friendly? >> i know bernie sanders talked about helping small business and -- david: yeah, but you don't do that by raising tax rates. >> job creation as well. in terms of raising taxes on, in terms of corporations there has been certainly discussion about bringing, some repatriating taxes back to the united states. instead of looking at loopholes and tax shelters outside of states, having whatever the tax situation is but repatriating tax money back to be used to
fortify the american economy here in america is something that i think actually both parties -- >> that is tax increase. that is not tax decrease. david: michael. >> that is way of bringing taxes to transparency. david: michael. >> is there a democrat who is going to talk about lowering taxes? no. what is amazing about the modern democratic party, is that everybody now is an contest to see who can raise taxes the most on the most people. it is all about the government doesn't have enough money. we have to spend more. either just to have the money or just to make sure we've leveled inequality issues. it's a real race to see who can raise taxes the most. david: steve, one of the problems with donald trump that some people see he is very sensitive to corporate tax rates and corporate interests but not perhaps so much to individual interest. frankly i don't think he ever had, a lower income than a wealthy person. so he may not understand what individuals go through in terms of paying taxes.
>> you know what, david, it is interesting, looking at the 14-point plan, again it's a draft, you look at that, david, you will say this guy is a supply-sider. i was shocked at some of the elements. looks like he gets it. the problem he is a bit of weather vain on the economy. one day he supported wealth taxes. i don't know where he will come out but what i've seen so far is pretty good. david: thank you, guys, appreciate it. >> yep. david: a great lineup of presidential proportions. gop presidential candidate donald trump on "lou dobbs tonight" at 7:00 p.m. eastern. dr. ben carson on charles payne's making money at 6:00 p.m. eastern. melissa. melissa: find out why this little hamster had the best day ever. where is he? you don't want to miss out. ♪ and why stop what you're doing to find a bathroom? cialis for daily use, is the only daily tablet
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remember him, visited happiest place on earth and had the best day you could ever imagine wearing a tiny-sized hat with mickey ears of the adorable internet star nibbled on churros and rode the tea cups that is my favorite part. wow. deirdre, you love tiny hamster. david: in this case -- deirdre: are you kidding me? there is no follow-up to that except maybe this. we'll show you this live shot, completely different in stone. this is outside of tom brady's hearing. of course the new england pats quarterback. we're awaiting his departure from that building there. of course tom brady, roger goodell, clashing in federal court. as you know tom brady is resisting the four-game sit-out, the four game suspension. we'll let you know if there is any news on that front.