tv Bulls Bears FOX Business April 17, 2016 2:00am-2:31am EDT
"strange inheritance." and remember, you can't take it with you. left. >> from rhode island. >> after the show show. >> yeah. protesters targeting companies for higher wages. join picket lines with workers. now some here say enough of this bashing job creator, are they right or wrong? hi everybody, i'm in for brenda butner. this is bulls and bears. gary b. smith, john layfield along with sasha burns, welcome to everybody. the piling on this businesses is bad for jobs. >> the bashing for assault is not going to kill jobs.
l suck it all out of businesses. it's the policy of a trillion dollar tax mike and it's a socialism which by the way only lives and breathes because of the dollars out of the capitalism. and by the way, socialism gets too big and overtakes capitalism, you end up being a venezuela, when you lose capitalism, you're cuba. let's vote for bernie and hillary. >> john layfield, the bashing is being done by people who are running for the highest office in the land. how does that not hurt businesses? >> well, i think it does. and what it does specifically, it hurts around the uncertainty that businesses have right now. you see m and a is not going forward. investment is not going forward. right now in our country, full job market like they say we do, we might, but the reason that i wonder about it is because gdp
is still abysmal right now. they are not good-paying job. middle class has been destroyed. and all of this political rhetoric that's coming out of sanders and clinton who's moving to the left trying to get through the primary is feeding off that they are filling out populism and it is hurting business. >> and gary b., that's the point is that these are policies that could likely get pushed if one of these people gets elected. how does that not crush job creation? >> well, it has to, dagan, this is basically, and it always comes down to these unions basically. want higher wages and they're willing to go out and protest and it's the bernie sanders and the hillary clintons use that as an opportunity to bash big business. what has it gotten america so far? i'd ask anyone on the left to say what unionized business has
really prospered because i can come up with a few where it's destroyed the business. going back to the automakers, to the steel makers. to textiles to airlines, that's what happens. look, if you're out there, we need to earn 50% more than we are now, but at some point, companies just say look, we can't afford to do that and we'll outsource jobs oversees or go out of business like bethlehem steel for example and it ends up hurting the very people who want the jobs and want the higher pay. >> and that's what's happened. after the uaw contract that ford signed, what did announce? it's building a plant in mexico with 2800 new jobs. because it makes more economic sense. >> right, but that's not about minimum wage, and that's having a kplaetly aside of the question, because you could use orders that are even below minimum wage. at the end of the day, minimum wage doesn't keep up with inflation. the idea that businesses are
going to be destroyed by raising it $15 is a bit of a leap, but by raising it from $7.25, a lot of companies are already pay more than that. so you know, the idea that people should work but not make enough to live off of, it's just wrong. >> but $15, jonas, you said this yourself, economists on the right and the left think $15 -- you have no idea what the impact would be with such a dramatic increase on job creation. >> no, its never been done nationally the city can shand it will that are wealthy cities, but you start throwing that around with smaller parts of america, it's going to have much different affects like than in a seattle or san francisco. it doesn't keep up inflation because democrats haven't addressed this issue when they had control. there's an ample opportunities through history to index this to inflation, but it becomes a very favorable political tool to use in an election, you say for raising it, when it would raise itself, lik sial curi
rais itlf. donavergumts abo raisg th eve yea wn 's ectio year geingacko th ise, it sn'turtusins ch, paiall becse is i cits righ now tha can aord it, and it hn't beeone federally and there hasn't been a lot of regulations yet. more importantly all of this talk and outrage hasn't led to consumer behavior change. if people really cared, they would change this, they would not go to mcdonald's, right, has that happened? have people left and closed their phones and moved to sprint over this? i don't think that's going on in any number. >> go ahead. >> dagan, every one of these policies is about taking capital out of the businesses hands and placing it somewhere else, namely, into governments to doll it out. and i have news for you, you start mandating higher and higher costs without productivity gains, aunt mary and uncle bob that owns three restaurants, has 50 employees and you tell them that theyou,
is going to turn into 47 or they're going to get the robots that i've been reading about this week that cook 360 burgers in a matter of an hour. it is based in the cake, that's what's going to happen. business owners will react when you man date to them. >> and john layfield, these are businesses who've dealt with more than seven years of the obama administration when which ripped up health care and the financial regulations, killed the coal industry, reregulated internet and then has put on more regulations than president bush and president clinton in their eight years in office. >> yeah, and one of the best things bill clinton did was in 1996 the fair business act which took out a lot of regulations of small businesses and it really created a lot of job growth. we haven't seen anything like that since, we just seen roguelations stuck on regulations, year after year after year and bernie sanders has become the modern day waylon jennings, when we ran against mckinley for president, anybody who makes a million dollars had
to do it illegal. byny looks at corporations and i think he's very sincere with this that somehow they're inherently bad or people that have money have got telephone through ill gain or bad because they have that money. and we don't do anything with the minimum wage because it's a political football. just like jonas said, democrats don't want to the deal with it long-term index to inflation because they use it for vote. unions use it for recruiting, republicans want to fight against it, we raise it to 15, traz to 25? there's no rational for any of this going forward except it's political. >> gary b., fox news poll, number one issue for voters, boom, economy. more than double the percentage that terrorism got. >> well, and it should be because, you know, as we talked in the past, dagan, my personal opinion and if you look at a number, the economy stinks, despite what the obama administration is talking about. i do want to address one point that sasha made, she said oh
this issue with verizon isn't about minimum wage, in fact i think she implied that a lot of this isn't about minimum wage. let's take that, you look at just in the verizon case and you just have to scratch your head. the workers that are going on strike there are making with the pay and benefit packs $130,000 a year. they're in a declining prize and that produces only 7% of the revenue. these people by all accounts versus the average american have it pretty good, and yet they're out there with picket signs protesting, i mean, i just -- i scratch my head at how this is going to help the economy at large. they're going to be maybe, you know, protesting forever, who knows if it gets resolved. >> and sasha, the verizon ceo came out, mcadams said this, quote, i understand that rhetoric gets heated in a presidential campaign, and i
also get that big companies are an easy target looking for convenient villains and felt be many of our citizens when rhetoric becomes disconnected from reality, we cross a dangerous line. we deserve better from people aspiring to be president. period. end of quote. >> well, look, i mean bernie sanders is a socialist. so are any of us confused about this idea that he's going to save these things? no. >> we're not confused, but we're worried because we worried about job creation. >> he's not going to win, so it'll be okay. >> i'll push back on that, he's pushing hillary clinton to the left. she's becoming -- there's no daylight between those two lately. >> as we know, hillary clinton she's very pragmatic and she's not going with $15 an hour. >> you line up with people that have never create edad diem of wealth or great companies that have created trillions of of wealth and millions and millionings of job. you know where my vote is.
the problem is they are selling a scam too these people that it is where it is because others are so successful, we should be applauding success and greatness, not ripping it and whining about it like these two are doing on a daily basis. >> that's the final word, thanks guy. cavuto and business about 20 minutes from now. what's coming up. >> do you want more or less government? that is probably the signature issue. and my chat with this woman may be broving it. now she's demanding free college tuition. i demanded to know who pays for it. do not miss it. we'll see you soon. >> we will not miss it. thank you, neil. we can't wait. but up here first, the gop delegate battle turning to wyoming today. donald trump blasts the entire delegate picking process. ted cruz says the businessman candidate should be more organized. who's right? we debate, you decide. you totaled your brand new car.
nobody's hurt, but there will still be pain. it comes when your insurance company says they'll only pay three quarters of what it takes to replace it. what are you supposed to do? drive three quarters of a car? now if you had liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around on three wheels.
i'm leland vitert, now back to bulls and bears. we have a rigged system. the almost system is rigged. okay. it's a rigged system. >> it ain't rocket science. if anyone is running an effective and confident presidential campaign, they ought to be able to figure out how to actually go and win an election. >> donald trump and ted cruz trading jabs over the fight for delegates as wyoming decides today new york goes on tuesday. trump and his supporters say the establishment has the system
rigged. cruz saying his businessman rivals should have brushed up on the rules. john, what did you say? >> well, i take issue with cruz saying it's not rocket science, it's not rocket science, it's theft. make no doubt about it. saying american people are too stupid to elect politicians. the establishment is against trump and sanders. sanders wins wyoming and new hampshire, loses delegates in both because the system of dell gets is against him. whether you like trump or not, that's criminal, you don't let the people vote? the system is absolutely 100% rigged. we need one vote for a primary, one vote for a general election, every vote counts, throw out the electoral college and throw out the guys from d.c. to begin with. >> will spending money change it? >> no, it is a shame like it is this way. it's crooked and the whole system doesn't make sense. you have to be a politician for life to become a politician. that said, the rules of business
is rigged, and if you're good at business, you have to deal with that. down here, uber was getting millions of dollars in fine for taking people to the airport, that's a horrible regulation against tesla couldn't sell cars in some states because of a rigged system of government b bureaucra bureaucracy. forget about doing business as a multinational company and you have to bribe people. got to check every state they do. the whole world is rigged of business and a good businessman or woman can work around that and succeed. if you're branding a luxury brand by licensing fee's, plab you don't know that, i question the business and not operating the system? >> gary, what about the wisdom of not throwing a man, donald trump, who's self-funding campaign into a rigged system and being careful. >> well look, i think donald trump takes things for granted. he's been winning a lot. i think he knew and just didn't
get it. as you notice, he's now hiring some delegate heavy weight. i think he's on the game right now. listen, i agree with the wrestling god big time, steven hawking could not even figure out some of these rules, they're ridiculous, it should be just one vote, but it's not. and the fact that somebody can get a million votes and somebody else gets zero, but the person with zero get all the delegates is an absolute joke. >> gary b. >> well, i -- i don't know if the game is rigged or not. let's even stipulate that the game is rigged, it really doesn't matter. ted cruz did the due diligence to figure it out. this is my concern with donald trump, you know, we're hiring a person that is the most important josh in the world. i mean, you wouldn't hire boeing for for example is looking for a new ceo and you came from and said i don't know how many planes you make, i don't know what our accounts receivable looks like, gee, i don't know what our plants look like.
and you would you would dismisses that person as a candidate. look, you have to know thousand get elected. you have to know foreign policy. you have to be a statesman, you have to be a ceo, i'm just not sure he's up to the task at this point. maybe he is but this one example shows that he just didn't put in the time in order to get elected president, that raises questions and you have the confidence to be the leader of the free world. >> but sasha, you have a man that's running against the system, why would he ever play into the system? because it goes against what he is represented to the voters. >> he's not running against the system. he's running a trump vanity. if you want to talk about what's fair, go back to the founding fathers, the electoral college is nuts. for that we have to change the whole thing. >> we'd have to change the whole thing, john, last word, in turn the voters not having a vote, that's wrong. >> completely wrong. there's no way to justify this. henry clay stole the election for john quincy adams in 1824, it was wrong then, it's wrong
now. >> those rules were known ahead of time, john. >> we have to go, gentleman, cashing in in over an hour, what do you have coming up? >> hiing with money can't buy you love? presidential campaigns can give perks to delegates for their support. is that bribery or just the cost of playing the political game? plus, a college fraternity builds a wall saying make america great again with donald trump's name on it. guess what happens next. cashing in, we'll see you at 11:30. >> thanks eric, we'll be watching. up here first, while you rush to make monday's tax deadlines, the irs is not rushing to pick up the line when you call. now there's a plan to change that by hitting the irs
just two days until tax day. and if you need to reach out to the irs for help. good luck with that. the average wait time was about 30 minutes and six out of ten callers never got through. now lawmakers on capitol hill are pushing a bail to stop the arrest from dolling out future bonuses until they improve their customer service. gary b., you like this idea? >> i love this idea, dagan. at the heart of why american business succeeds, professional sports teams succeed, they pay for performance. if you can gear future bonuses towards performances, response time, customer service, things like that, the irs will dramatically improve. >> here is a bonus, you get to keep your job. >> exactly. there's something to be said
about it. i agree, i think we should put some type of pamp performance on all those buffoons in d.c. right now, they would all have to cut us a check, jonas. >> the irs called med, you don't want to the be able to say that. first of all, 30 minutes, call delta and find out how many minutes it takes to get a live person and then ask yourself, are those phone managers, customer service, run those phones they outsource,ing down they're goating bonus? you can't take it out on the irs worker. they have their budget caught for over five years, they don't to want increase it because republicans hate the irs -- >> but, but, but, budget cuts but they still got $60 million in bonuses in 2013, sasha. >> well, you cut the number of people that you have to do the work that you have. and you're not going to get the right results. jonas is right, it's not the individual workers fault, there's a problem with management there that needs to
get fixed. don't punish them without knowing what's going on. >> gary final word? >> another fabulous government agency, get more people. there's enough money in government to pay for it. do it today, not yesterday. >> thank you guys. and thanks to sasha in particular for joining us. >> thank you. >> stocks to take the sting out of the tax bill, next.
so, same time next week? well, of course. wow. college already yeah! we gotta go yeah (sfx:car starts, car door closes) ♪for all those times you stood by me♪ ♪for all the truth that you made me see♪ and remember... ♪for all the truth that you made me see♪ seatbelt. drive safe. call when i get there. ♪for all the joy you brought to my life♪ i...i love you. ♪for every dream you made come true♪ ♪for all the love i found in you♪ ♪for all the love i found in you♪ i love you too daddy. ♪you're the one who saw me through♪ ♪through it all and thanks...for, everything. ♪you were my strength when i was weak♪
>> dagan, frarss say it's going to be a hot summer, i say people will be drinking coke. stock up. >> gary k., are you okay with it? >> no, i think defensive issues are going out of style now. >> john, prediction. >> avoid labor problems, at&t, 5% yield, up 20% in a year. >> gary, you dialing this one up? >> i'd rather own verizon. >> your prediction? >> domino's pizza has been delivering and i think it is going to continue 20% this year. great earnings and sales growth going forward. >> jonas. >> no, too many cards. >> you need some carbs. >> jonas, your prediction? >> an executive order we can all get behind. those little boxes from 1980 you have to pay every month, they're going to got rented rotary dial telephone because the obama administration says it's going it's going to be open to
anybody. >> john lay field, final word. >> i love pizza. >> thank you so much. >> they go hand in hand. eeeee show. neil. now. all right. well all of the sudden fox business network interview that was about a lot more than business was suddenly about a lot more than just cable network. it went viral. students demand others off their desk. >> to have free public community college, it'll cost $62 billion. the u.s. government spent 6 # billion of dollars in 2014 just on financial aid programs. the money is there. >> what you're saying is you want to cut -- my hat's off to you -- >> we need to readjust it. >> fine, i agree with that. let's say we wipe