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tv   Cavuto Coast to Coast  FOX Business  May 9, 2016 12:00pm-2:01pm EDT

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redstone, seen there, 92 years old, keeps control of his controlling interest in viacom and cbs. the judge throws out an incompetencecy lawsuit. he wins. neil cavuto, this was your time. it's yours. neil: thank you, my friend. all right. we're taking a look at why there's all of a sudden disarray with the republican party. donald trump blaming republican critics with that and the establishment more to the point. but does the establishment have a point when they hear their potential standard there going back and forth on the issue of taxes? take a look. >> i'm going to fight very hard for business. for the wealthy, i think frankly it's going to go up. and you know what? it really should go up. but i'm not talking about rates from where they are now, i'm talking about rates from my proposal. neil: but you said you're going to cut and then you said you're going to -- that's it. basic cable, that's as far as i go for you. on some of these issues,
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maria bartiromo earlier today. but before we get to that, let's get to ron cristy, morgan, and gina. gina be with as somebody who came to fame thanks to the tea party and making it a big deal and reminding these guys, their word matters, their commitment to stimulate the economy, to tax cuts, watching budgets, et cetera, are you disappointed? are you getting different vibes from donald trump? >> not at all. in fact, i hope that he takes away all the loopholes that this who are the super, super wealthy with teams and teams of tax attorneys can help them hide from. neil: you think that's where he's going? just to take away, like, carried interest, that sort of thing? >> i think that's exactly what he's going to do and, in fact, in his statement he said something about his major concern is the middle class who has been left out of this equation over and over again. you simplify the tax code, and you make things easier for everybody. but you also take away the
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loopholes of the super rich. neil: well, i don't know. i'm confused. and, morgan, maybe you can help me with this because i do remember he was campaigning, and we have a lot of other people he was campaigning against in the republican party that was the center pees to his economic mantra. that is cutting taxes across the board, highest rate 25%, even critics said it was going to cost the government the most because the taxes were being cut the most. and he dials it back for the rich. now, that money just adjusting between that and the minimum wage thing and some of the other stuff. he's been saying i don't know where he stands on some key issues. >> well, not only would it be a departure from what he said in campaign. i think it would be a departure from the republican party since the reagan revolution on where we stand on taxes, tax increases, and tax hikes. so he is the presumptive republican nominee, which he won fair and square. so therefore, he does have control going into this election at the party, at the
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convention especially on what the agenda will be. and so this is why i think it's understandable that people like paul ryan are very convinced with tax reform, or entitlement reform are going to be concerned with the positions. i did a very formal and accurate facebook poll this morning among my socially conservative and evangelical friends, and they are less worried about the tax issue and much more worried about where he stands on his commitment to social conservative issues like being pro-life, like gay marriage, the sort of things that matter to evangelicals. and you probably saw he got into it with one of the leaders of the southern baptist convention over twitter this morning. so it's been an interesting day. neil: so obviously evangelicals then are scratching their head, wait a minute. now, i should pause it here, all candidates, especially once they clinch the nomination, if you're democrat you move from the left to the center, or republican move from the right to the center or start pivoting a little bit getting ready for the general election. that i understand.
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but some of these remarks strike me wrong as a reason why some of these establishment republicans for lack of a better term are raising their eyebrows here. now, some, to me, sound like sore losers and not getting onboard. i understand their frustration. but having said all of that, i understand their surprise here. >> hey, neil, i don't know if i would call myself a establishment republican. neil: oh, you are. >> all right. maybe i am. neil: your blood comes out blue. what are you talking about? but go ahead. humor me. >> i'll humor you. look, all throughout this campaign we are saying what does donald trump stand for? what are his honest to goodness convictions where he looks at foreign policy? where he looks at the tax code? where he looks at a wide variety of issues and just the second after he got this nomination? what does he do? he comes out and says maybe we'll raise the minimum wage, maybe we'll raise the taxes on the rich. i have always wondered, and,
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neil, you said this, what does this guy stand for? now republicans are saying 60% of the republicans who cast their ballot did not vote for donald trump and now this guy is our nominee? we could be in for a rough ride. neil: well, but he did win fair and square by a big margin fair and square. leaving that aside. now, what a lot of them are saying, though, this isn't the guy we thought he elected; right? and now you're disputing that and dismissing that, which is fine. but some of these changes are more than near pivots; right? >> you know, no. i really don't see -- i don't know if people can't read or what the problem is. but if you go to his website -- neil: wait a minute. i can read. i can read, young lady. >> it's spelled out very clearly. so i don't see where the confusion is. he understands like you and all of us sitting here on this panel understand, neil, that when you have a free market economy, that is allowed to be free market, some really great things are going to happen. it's going toincrease --
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neil: you may be right. gina, you may be right. morgan, what worries then is i don't know exactly what he means. the tax plan is big. but why talk about making concessions or dealing with the other side when if you were elected, that is donald trump, and i assume you would be taking with you the same republican house and senate. you're -- you don't have to be in a position to give something to the other side; right? >> that's an interesting point. neil: oh, i make many of them. >> i think he's talking about this from a business perspective and not a pill perspective. so i think he's thinking of how he normally in that deals and says, listen, this is how we do things. so we probably -- to get him to a -- president trump next year, is he starts negotiating. maybe he wants to give himself as much flexibility as possible when it comes to issues like taxes and entitlement reform so that he can make the deal the best interest in the country.
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now, will that deal make the deal of conservatives want it to look like? probably not. but that's also how washington works. we've got eight years of gridlock in washington with no one getting along. so we'll see -- listen, i've under estimated mr. trump. so i no longer do so anymore. i hope that he ends up on the conservative side of the issues because that's the issue i believe in, and that's how i'll be voting in november. we'll see. neil: so these switches or adjustment, pivots, whatever you want to call them, don't alarm you and do and make you worry about future such pivots. >> they do because it makes me worshiped what does he stand for? he's praised vladimir putin and said that putin was a good guy. well, the russians are with you our biggest adversaries these days last time i checked. how is he going to find unity with the republican party? i don't see it at this point. neil: all right. buddy at this point. >> but, neil, the unknown of trump is so infinitely much better than the absolutely
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known and predictable of hillary clinton. neil: you obviously didn't see any twilight zone episodes. you're much younger than me, but it ended up being much worse. i can share with you if you want. seriously, though, thank you all very, very of. and i do want to touch on this competency suit where redstone was dismissed with prejudice. california judge tossing out the case challenging the competency of the media mogul and the controlling shareholder of viacom and cbs ended the six-month legal drama after a single day in court with the judge saying effectively this was stupid. he didn't say that but that cuts to the chase. i want to ask charlie gasparino. what do you think of that? >> i think it was a appropriate suit. this woman who was --
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neil: his girlfriend. >> yeah, his girlfriend whether he was competent enough and whether he needed her is essentially what the judge would rule is absurd. he's going to get good care. here's what gets interesting, though, and this is where deserves some positive feedback from the press. phillip who runs viacom. neil: was he a redstone pick? >> of course. redstone loved him. allowed a guy who was barrel competent to sign their paycheck every year. the board of viacom allowed a guy who was seeping into, you know, dementia to be executive chairman of the board. not nonexecutive. executive chairman. neil: which means a hands-on role. >> so think about it. the board of viacom, the board of cbs allowed a guy that was losing it to run the show. and they both paid each other a lot of money. i think there's legitimate
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grounds here for an scc investigation and lawsuit. forget about her lawsuit. whether she deserves any money and what she did. neil: but they did prove mentally competent lawsuit. speak clearly. >> but that's the problem. and, by the way, he was a couple of months ago until she brought it up. neil: that doesn't seem to hurt the company. >> well, if you look at viacom shares, they're not doing tool. i would say if you're a stockholder, and you see stuff like this, like, board members paying off the ceos a lot of money. neil: well, that was the most unseemly stuff. >> that, to me, you have to worry about as a shareholder. neil: gotcha. real quickly your take on trump and theseback and forths? >> i will say this. he obviously has read the art of the deal. you don't negotiate before you get to the table. so he's negotiating his tax rates up before he even gets to the table. neil: let's assume he has a republican -- >> that's another thing. it's absurd. that's the second point. he wins, the republicans are
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going to win congress, so why back and forth? here's the problem donald has. these are basic things that he keeps flip-flopping on. he said this thing about debt the other day. neil: what did you make of that? >> it makes no sense isn't that in doing so, it would risk the fault that he kind of combed it a little bit. >> what he said today on maria's show was not what he said initially. neil: right? barack obama: just so you know jack lou treasury sector, interest rates go down, they replace the old debt with the new debt interest rates. donald trump didn't make that up. what donald trump did with the hotels in the bankruptcy in the junk bonds. one step below default, that is crazy, that is not what he told maria. and i tell you this is the president of the united states that's equating something that's done every day in the
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markets, refinance debt with going to the chinese and saying you get less, here's my deal, take it or leave it. that is crazy talk. it will destroy the markets. probably destroy the country. neil: makes it more worrisome. you know? >> this is what he's suppose to be good at. you and i know everybody makes mistakes. we talk to people every day, stuff comes out of that mouth. he made the comment about abortion. he said women should go to jail. you can almost give him that one because he's not an expert. but he's good at allegedly business. he's got to know it's different between negotiating with the chinese on our debt and some bond holder or the bank. big difference. neil: do you think he appreciated the magnitude of the debt thing, though, when he signed it? because his explanation made maybe he didn't. >> i don't know what he thinks. it's scary to think that he rationale believes what he said. but here's the scary part, neil. what he said was so absurd.
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the fact he's telling us that's not what he said. it strikes me as, like, bizarre. i don't know. neil: i don't know. this, by the way, buddy, you're going to find bizarre. he's going to be at the conference this week. >> yes. neil: we'll be talking to him. >> in vegas. neil: oh, boy. >> hair pull. neil: here we go. i'm sure some work will be getting done. by the way, talking politics. paul ryan, fox business is getting confirmation on this, will indeed step down if donald trump were to ask. now, they're meeting on thursday to bury the hatchet or whatever you want to call it. do we know, charlie, who recommended the meeting in the sit-down? it was ryan who asked him. >> i think it was both sides who wanted to do this. and this will be a key meeting. but, you know, i can't see paul ryan supporting anybody that wants to raise taxes. neil: bottom line, this is paul ryan's thing. speaker of the house, he gets this role where he is technically the highest ranking republican, the convention chair. so if the incoming nominee
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doesn't want him or like him, ryan says i'm out of here. forget about it. which if he's ryan, he wouldn't be saying things like forget about it. but very, very close. more after this you wouldn't take medicine without checking the side effects. hey honey. huh. the good news is my hypertension is gone. so why would you invest without checking brokercheck? check your broker with brokercheck. this just got interesting. why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex do not take cialis if you take nitrates for chest pain,
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stop taking cialis and get medical help right away. e.t. phone home. when you find something you love, you can never get enough of it. change the way you experience tv with xfinity x1. . neil: all right. if at first you don't succeed, try, try, try, and when it comes to puerto rico, keep trying again. puerto rico debt crisis legislation we are told is going to be introduced in the house. this would be essentially the third such piece of legislation come may 11th, wednesday, this is the one that would essentially allow the commonwealth to all but declare bankruptcy and, in other words, it could refinance its debts, go ahead and put them in a line as a company would, as a corporation would.
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this does not sit well with a lot of bond holders who fear that they're going to get gouged in a system like this. and they're going to be pushed in the back of the line. technically in such arrangements they move to the front of the line. having said that, this is the slick tightrope that paul ryan is walking. to make sure that this is not a bailout that paves the away for puerto rico to pave its own debts and which it. wants to pay and which it can't pay without one u.s.taxpayer dollar going to help them out. it's a tall order, but they hope to get it through on wednesday to save the day. we shall see. in the meantime, you probably heard this idea that mitt romney is now talking a third party alternative to the democrats and more to the point, republican donald trump. and how they're looking far and wide. but this issue with gary johnson who looks likely to be the libertarian candidate again, well, he keeps coming up. and i talked to the former
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governor about that. >> you have a great deal or curiosity, speaker, picking the libertarian. what do you make of that? how much has your phone been ringing, e-mail, what? >> well, it's all been ringing off the hook, and i think legitimatizing the attention is that the libertarian party is the only third party on the ballot in all 50 states. neil: he's right about that. the only party right now that would qualify on all 50 states ballots. it doesn't mean it would do well. it was on ballot last go around and if memory serves me, he didn't fire up the ballots. having said that, millionaire investor foster. always good to have you. some very prominent players like mitt romney to find a third party alternative.
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>> i think once they feel a little bit more comfortable with what donald trump might do for our country, they're going to be back in the fold. none of these fellas want to go down in history for naming hillary clinton. they're protecting the lives of our family. so i think after they settle down, that will change -- and also donald trump. neil: why are you sure of that, foster? seeing as some people have been surprised by some changes, some see them as big, some not so big. what makes you think that he would choose supreme court nominees -- marketly different one? >> well, i just have an instinct that's who he is and who his personality is. but in terms of being able to shift fields, remember president obama declared he was going to close.
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he had a redline that if assad used chemical weapons, he's going to bomb that, so he rethought that. so rethinking as leaders is something we should give them slack to do. neil: that's a magnanimous way to look at this. so what do you tell the jeb bushes and the lindsey grahams who are in this perfect pechual state? to say we're not going, we can't support them, but soon support osama bin laden. he didn't say that. but what you know i'm saying. that they're just viscerally against donald trump. >> how can you blame them? they've been just massacred by aalmost all. christie came back in and of course ben carson was never really challenged by donald trump. but, you know, lynne and i have been married for 54 years, and we've had some crosswords in those 54 years. but there's certain loyalty to certain principles, and i
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think america just stands for so much. flying over these little houses today and as i landed -- this is a wonderful country and these guys aren't going to jeopardize it just because their feelings were hurt. they're bigger than that. neil: i don't think they are, foster. you might be bigger than that. what i'm loving about these guys is how childish and immature they're acting. this looks childish in terms of drama. so one thing that you think these guys can get over whatever is bugging them or this is going to be a nasty convention. >> no. i think -- i don't know mitt romney very well. and i don't -- i know lindsey graham. these people care more about the country than their own personal feelings. and i think they'll sit back and say, you know, what would happen if we don't have -- neil: they're not going to do that. they're not going to do it. they're just not. >> okay. twenty-five dollars? bet it? neil: okay. i don't know if i want to bet, like, actual money. food maybe. but, foster. >> okay. a hamburger.
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i'll bet you a mcdonald's hamburger can we get, like, the double quarter pounder? >> absolutely. neil: we'll talk. okay. foster thank you very much. if you're looking although twitter, it's down almost 60% from a year ago at this time. and now signs, it's going to get worse. a lot worse.
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neil: all right. well, you could have timed this. and almost exactly to the second. the former companion of redstone who was trying to say she was a stake on the company and been treated unfairly has now filed suit or an appeal after her lawsuit was thrown out by the judge in this case. a california judge tossing out the case challenging the mental competency of the
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92-year-old media mogul, redstone the controlling share of cbs and viacom. now, that ended the struggle. but now saying she's going to appeal it. so the battle goes on. but for now, he wins. but what was uncovered in all of this, yikes. all right. twitter right now stock has been creaming. from a year ago, down more than half. but now saying it is cutting all spy data to any spy agency. meaning you can't use its analytics if you're in the industry of spying on people. what do you make of this, allen? this is twitter saying much like apple, much like facebook who is saying, no, we don't share this stuff. what do you think? >> well, i think it's important for these companies and agencies to understand
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that an important part of 21st industry battlefield against the global islamic jihad is their use of social media. that's the means by which they are proliferating, their ideology across this world and if we don't have the access by which we start to head them off at the past and undermine their ideology and messaging, then we're creating the gap by which we continue to be exploited. so i think twitter and facebook and all of these others, i understand the balance of privacy. but we need to have a very targeted program and system and process by which we can cut off these jihadist groups and what they're doing. neil: you know, i always wondered. most of the time tech companies that state how they're not going to share this information, they don't do that well in trading afterwards. not everybody. facebook held up pretty well to put it mildly. but not some of these others. what do you make of that? >> well, i think people are starting to be concerned about their own -- their security and their safety.
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and when they see these companies and corporations, more so concerned about their profit margin or more so concerned about their own self interest and special interest instead of the aggregate interest of, you know, liberty, freedom, and democracy, then they are going to pay the consequences thereof. and i think you will see that in certain specific cases. neil: you know, while i have you here, paul ryan who of course has this powwow with donald trump on thursday, has always apparently suggested that he would be willing to quit acting as republican chairman, which would be his role as the nation's highest ranking republican. if donald trump were to ask. what do you make of that? >> look, neil, i've got to tell you. i still have friends that are out there in the military, relatives out there in the military. when i look at our debt situation, when i look at our situation as far as energy security and illegal immigration, yeah, you know, we need to have some adults. we need to have some people that are talking about what's best for america.
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and put all of these egos and sensitivities aside. you know, i've got two daughters. 23 and 19, and i'm concerned about the future we're going to hand over to them. and i wish that these people would start to consider that instead of their own little rice bowls. neil: well put. allen, very good seeing you. thank you very much. >> you're welcome. neil: mention gas prices, up 21 cents in the past month. a lot of that has to do with what we're told what saudi arabia is doing to sort of reshore up its strength in the oil market. something they've lost control of in the last year or so. but what saudi arabia is planning to do in a way you never thought possible. after this great rates. great rates. it's a fact. kind of like bill splitting equals nitpicking. but i only had a salad. it was a buffalo chicken salad. salad.
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>> if saudi arabia were a corporation, it is going to a major shakeup. from top to bottom. then to get it mojo back. it is not the case, i hope. saudi arabia itself is looking at alternative energy. the alternative. scott on the fallout for us. if they succeed at what they are doing. i do not understand. >> if you take a 40,000-foot view out what is happening over
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there, they are in panic mode. they give all of their citizens money. kind of like what we do. there are dividends that all the citizens are getting every year. that does not smell right to me. that does not smell right to me either. the shakeup that you just so happen over the weekend, there is stuff going on. they kind of outline that. it is very shaky. >> they had real eternal social issues. we talk about what goes on in greece. just trying to cover it up. what i am wondering, if they go through some social chaos, what is the fallout from guys like you tracing the impact of all of
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this. >> we still have a big supply issue. yes, you are right. and eruption from what they put on the market and are continuing to do so, they have been terribly deflationary. look at what they did for our oil production. a large part of why we do not have inflationary problems. think about how big that is on a global market. you start to see oil take off. it would be one thing to get rid of. i think it will be more of a volatile time. >> summer drivers, is that the range we are in? >> the next weekend, 225. it will be all over.
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going forward, the story is not the drop or the prize. it is lower for longer. neil: i will alert stuart varney's driver about this. it could be startling for him. this increasing hearing those that push these alternative fuels. like oil. like fracking. why we are not going full throttle with them. when donald trump for the presidency. thank you for joining us. i am looking at what is going on in saudi arabia. whatever makes us less dependent
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on some of the craziness going on in saudi arabia and elsewhere. we seem to be picking and choosing, at least in washington, our favorite energies here. what do you think of that? >> that has absolutely been the case. they have picked winners and losers. the amazing thing, neil, america has more cold than any other country in the world did you would think everyone would want to be on the same wagon to make sure that we use that. to make electricity. we have proven we can do it. getting better at it every day. the best quality coal. we ought to be taking full advantage of it. picking winners and losers. as you said. neil: no one gives you a chance to just say a heck of a lot
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cleaner than we used to be. all of those battery operated cars. those battery operated cars are plugged in which is fueled by a call operated power plant. >> we just keep preaching. people in washington and new york and all parts of your country depend on whether they tend to work. donald trump is the answer. has he admitted that he will stop this picking up pace certainly in the last year or so. >> he did. on thursday night. he talked about coal miners back to work.
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there was more joy and hope in that civic arena that evening than i have seen in a long time. you know. amazing thing is everything has been done for this administration. against congress without their approval. it seems administrative. regulations. >> they certainly have not been going along. our industry -- >> all in on everything. thank you very much. we will see what happens. >> thank you. >> they call this moral monday. or is it more money monday?
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usaa car buying service, powered by truecar. nicole: we have had some back-and-forth action today. started off to the upside. of over 40 points. the dow is down 43. we have some data that put them down. i want to take a look at some movers for you.
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continue to make news at this time. viacom and cbs. talked out by a judge. we are seeing both of them to the downside. there is likely to be an appeal for that as well. here is a look right now it 4094 a share at this moment. krispy kreme soaring to a new high. $1.35 billion. you get that. green mountain. up $4 right now. keep it right here. more cavuto coast-to-coast coming up here and. ♪
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speaking the heart and serious times. this is not entertainment. this is not a reality show. >> i heard that. how have you been, mr. president, on a lot of the very shows, a reality star. you have been on "american idol." you have been on this busters. ww pro wrestling. republicans could learn a thing or two from the president about approaching these venues and reaching these audiences.
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saying that donald trump is like a reality tv star, i am sorry, i just could not figure that out. anyway. i have mark serrano with us. former obama campaign. digital rapid response direct her. all right. i am looking at this. i am saying, wait a minute. you are criticizing the very type of entertainment or entertainer on the shows. >> that is right, neil. no one should be lectured about reality tv politics by this
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president. twenty-four hours before he was attacking donald trump for being a reality tv show candidate, the white house released a video of the president dancing with two storm troopers. >> very good. >> what bothers me is the other guys were doing the same thing. i do not think republicans reach out enough to the audience. i am looking at that. it just seems very goofy to me. >> this administration has been like a reality show. how about strange recovery. he is acting like a hypocrite
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once again. the apprentice was a billion dollar franchise. he created tax as well for the government. late-night show nine times. opera. the view. a youtube star, every time. >> i am just saying. what is the problem? i think that this shows that you are all one way. why even go there? among the shows -- >> i do not think he is actually criticizing the fact that he has been on tv. we have to remember, ronald reagan was an act or first.
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being someone that has appeared down-to-earth. something that is very common in presidencies. criticizing is the fact that the substance which trump is running is much like a reality tv show. the difference between watching 2020 and the cardassians. it is to get a sickly a rise. >> all i am saying is, you do not protest too much. to say that donald trump is just a reality tv guy, he does not, michelle. then you don't. you may be surprised. there is much more to this guy. a guy that built businesses. made money in the field. bankruptcies and all that. he is not a cartoon character.
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this idea that a president happily known to appear in any of these venues, the nerve to criticize the guy who has known for only one of those. that is all i am saying. >> obama is trying to suggest that donald trump is not fit for the office. he would not bring dignity to the white house. obama is such a hypocrite. the cost of these trips. they do not get the hypocrisy. that is all i am saying. >> you will not assign a bigger advocate than me.
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>> that is fine. a youtube president. despite the fact that he is a hypocrite for going on the shows,. >> shut up. do not lecture. >> the criticism is about substance. where has trump, literally, where has he talked about a single policy that has single substance? neil: i want to thank you all very, very much. when we come back, i will give you all dietary advice. ♪ you didn't read
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>> they may be big deals naturally. cooper and lyft could be going out for the time being. >> no longer in operation. a battle about whether fingerprint background check should stay in place for drivers. fifty-six to 44%. this is after they spent about $8 million on a campaign to get place.peal. we are out of here. passed by city council do not allow this. it lets ridesharing let's ridesharing continue to grow across the country. this appointment does not begin to describe how we feel about
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the positions right now in austin texas. they are setting a precedent. it may continue throughout the next couple of months. all trying to figure out the best way to protect customers, they say, from the background checks. they are working for the drivers. uber has tried for it in the past. they could try it again. >> thank you very, very much. we are a few minutes away. protest planned in chicago. not on their dime, on somebody else's time. more on monday. give us more money monday.hour. ♪
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neil: it is called moral monday. sort of a part of protests in chicago where they're trying to say, you know, the middle class, hurting, and maybe it's time the rich pay up and soon to help us out. i kind of cut to the chase there. jeff flock in chicago, the epicenter of this big protest. jeff? >> reporter: increased taxes on the wealthy, an increase in the minimum wage. we thought maybe donald trump would be a speaker at today's rally, but i don't see him anywhere here, neil. there are several hundred people gathered in the federal plaza here in downtown chicago, and this moral monday and fair economy budget what they're pushing today that they're announcing, this would increase revenue by about $23 billion, some of that coming from an increase in the income tax rate, making it a graduated income tax which illinois does not have currently which, of course, the u.s. government has. a state like wisconsin already has a graduated income tax where the wealthy pay more.
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also a tax on lasalle street trades, that is to say the cme. those trades currently are not taxed. you think, i've got reverend toby chow here who's a lutheran seminary student. you think that's fair. >> yeah. also the co-chair of economy illinois. so what i think is unfair is how people are suffering and even dying in the state as a result of small government extremism. >> reporter: we don't have a budget at all in illinois, right? >> report in. like is written in the book of proverbs, without a vision, people will perish. there is a need for not just a budget, but for what the state of illinois is going to look like. >> reporter: are you concerned if you begin to tax business more heavily, that it may force businesses out? the cme has said you tax the trade, we may just move out of town. >> when anyone else in the state of illinois, when you go to the store, you buy anything from the store, you pay a sales tax on it. the lasalle street tax that
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we're talking about is a tiny, tiny tax on -- >> reporter: it would be penny, on a trade, small percentage. >> that's right. a fraction of a percent on every trade. and the lasalle street trading boards can easily afford to have this tiny tax be put on transactions, and then this would be invested in the common good in the tate of illinois that would improve things for everyone, including the wealthy in the state. >> reporter: i cope that. appreciate it. thanks very much. as you can see, a large and diverse crowd of folks here pushing this new -- and by the way, neil, $23 billion a year in additional revenue is what this would generate. so talking real money. neil: indeed. and that's where it starts. jeff flock, thank you very much. niger innis is a little bit leery of this because if you look at the history of the value-added tax in europe when it started 2, 3, 5% now on average in much of europe it's
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north of 20%, once a tax gets rolling, it doesn't stop going up, up, up, up, up, and that is not just feeling. niger, what happens is there's a great deal more creativity paid to getting money than addressing the money we're already spending. perhaps if, for example, in illinois they looked at their budget and how money is allocated, they might find a better way to allocate it. but the knee-jerk response is hit the rich up, more taxes coming in, and that might solve the problem. what do you think? >> and, look, you know, i understand what these folk are trying to do, they're trying to tap into this economic populism that exists on both the left and the right. but what they forget is once a great man said that the power to tax is the power to destroy. and when you tax commerce, then you are taxing the ability of small businesses, of the little guys, the entrepreneur to create capital, to create economic activity in the private sector that illinois desperately needs. neil: i'm just wondering, considering the exodus of businesses and individuals from areas that have high taxes,
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wouldn't manager like this -- something like this, in other words, the money you're hoping to get not only do you not get, but you get less money than you have now? >> the fact is, is when you have tax cuts that are appropriate, then you create an economic engine that promotes jobs, that creates economic prosperity, and the government ends up getting more money because they get more taxes out of productive companies from the private sector. i think margaret thatcher said that the problem with socialism is that eventually you run out of other people's money? that's the problem with the high tax regime. neil: well, i understand in illinois they have this democratic legislature and a republican governor. i know how that goes, nothing gets done. i guess all i'm saying is by all means look at extra revenue if you've exhausted sort of fine-tuning and accounting for the revenue already being spent. and if you decide, no be, no, no, there are things we need and it's popularly viewed in that
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community, we need more money, then go for it, but i don't think that's ever looked into. it's much like the $100 billion plus every year we commit to infrastructure. god knows, and you and i have seen them, we need better bridges and roads. but what happened to the money allocated to do just that? >> right. neil: so something tells me they're not going to bridges and roads. something tells me that a lot of this money earmarked for these social causes will go to other causes. >> they will go to feed the bureaucracy. they will go to feed the monster that is certainly in illinois and out of control state government. what you need more than anything else right now is the strangling of the beast, if you will, not feeding the beast. if you recall this stimulus bill that was passed during obama's first term in the unprecedented amount of money, it was supposed to go towards infrastructure. and president obama soon after admitted and during an economic
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panel that, you know, apparently these ready-made jobs were not quite as ready as we thought. i mean, you know, look, the bottom line is that the private sector and small businesses are the greatest generator of economic growth that our world has ever known within our country. and during this era, you've had more small businesses close than you've had open up. that's unprecedented in our country. our country is strangling from overregulation and overtaxation -- neil: and you know who gets this, oddly enough? bernie sanders. he recognized that just sticking it to the rich wasn't going to pay for all of this. so he recommended and has in his package a middle class tax hike. now, his argument is that the middle class will get far more bang for the buck than the bucks they're paying in, but at least he's honest enough to say all these big goals i have cannot be paid for going after guys like niejer innis, right? [laughter] >> certainly don't want -- neil: i slipped that in.
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>> squeezing blood from a stone there. neil: i just tried to put that in. [laughter] all right, buddy, thank you. >> thank you. neil: in the meantime, i guess loyalty is in the eye of the beholder, because does anyone remember when donald trump got into this loyalty pledge when this whole race started? take a look. >> is there nip on stage -- anyone on stage, and can i see hands, who is unwilling tonight to pledge your support to the eventual nominee of the republican party? raise your hand now if you won't make that pledge tonight. [cheers and applause] mr. trump. neil: so all the others were making this pledge. they were going to commit to whoever got that nomination. so donald trump, not surprisingly, firing back at some of those loyal opposition figures who have apparently changed their tune. >> they signed a pledge, and they don't honor their pledge which is really pretty terrible when you think of it. but they signed a pledge, maria,
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him and this senator from south carolina who was registered at zero when i beat him in the election, you know, in the primary. so, lindsey graham. he's like a disaster. neil: all right. he was referring to lindsey graham, of course, jeb bush was the other fellow, but others are joining him saying we just can't support him. so mark layoff lin, he does have a point. he went on and accepted that pledge. it's anyone's guess if he would have stuck to that, but having said that, he did win fair and square. the others said they would support whoever the nominee was if it was dutifully voted on by republicans in primaries and caucuses across the country, and now some of them are reneging. does he have a point? >> he does have a point and, certainly, lindsey graham and jeb bush have violated that pledge or have signaled that they will. but i also think in their defense it's been a number of months since that issue was really at the forefront. and in the time since then, donald trump has really shown himself to be temperamentally
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unsuited, unqualified and really not knowledgeable enough to, in my opinion, fill the job the presidency requires -- neil: so in other words, you think they're justified in pivoting like this. maybe because he, to their liking, has pithed on -- pivoted on issues near and dear to the party. how are they going to reconcile this. >> i think from their perspective, they're thinking about the backlash of breaking that pledge versus the backlash of supporting trump. and i think history is going to be a harsh judge of prominent republicans that come out in support of trump. and they're thinking that the ensuing fallout from that will be significantly larger than the fallout from violating this pledge. and i think they're right on that front. neil: let me ask you about this latest story we have where paul ryan has said, look, if donald trump doesn't want me to be chair of the republican convention, which i guess goes to the highest ranking elected republican official -- in which his case would be paul ryan, the
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speaker -- then he'll step down. not as speaker, as the republican chair. what do you make of that? >> i mean, it is, in a sense, an olive branch to trump, and i think, you know, he should appreciate that. if he's not satisfied with ryan being, you know, a neutral arbiter in the convention, then he should look for someone else to fill that role. but i should also say that for all the insistence that, you know, ryan insists over and over again that he's not eyeing a presidential run at all, he keeps making moves that sort of fuel those questions. and, you know, i know his folks are really going to give it to me for saying that because they've been denying -- neil: no, i see what you're saying. >> yeah, he's fueling speculation, no doubt about it. >> thank you very much, reaction land. and i don't know if we have the ability to dip into the north carolina governor who is now formally suing the federal government and defending that state's new bathroom law. so i guess they say fight fire with fire in the north carolina governor's outline of exactly how he is going today just that. >> the representatives and the
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leaders of both the republican and democratic parties in congress. ultimately, i think it's time for the u.s. congress to bring clarity to our national anti-discrimination provisions under title vii and title ix. now, right now the obama administration is bypassing congress by attempting to rewrite the law and set basic restroom policies, locker room policies and even shower policies for public and private employers across the country, not just north carolina. now, i'm still asking the north carolina legislature to reinstate the ability to sue for wrongful termination for discrimination in state court. i encourage them to do this and do it quickly. i also welcome additional dialogue with the city of charlotte and our state legislature which has been ongoing for the past week. and i want to insure the people
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of our state and our country that north carolina has long-held traditions of insuring equality. the majority of oucitizens in our great state and this governor did not seek out this issue. however, the state of north carolina and this governor welcome the opportunity to be part of the solution for all of the states and especially our nation, the greatest nation, the united states of america. thank you very much. neil: all right. governor pat mccrory of north carolina fighting fire with fire. now, this all dose back to what -- goes back to what had been a back and forth first started by north carolina where they were forcefully implementing a standard that you could only use public restrooms that corresponded to your biological sex. not how you felt, whether you were a man and you felt you were a woman or a woman and felt you were a man. north carolina drew the distinction to say you are what
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you are biolodge capitol hill made up to be. -- biologically made up to be. the justice department said, no, no, you can't do that. many businesses are boycotting the state and, you know, big corporate events were canceled in the state, the governor saying, no, that's ridiculous. we're suing you. we want this solved by congress. the message from the political community is that it's a jump ball. it's anyone's guess where this will develop. but what started as a clarification of a transgender policy the governor felt wasn't very clear is now clearly something else: a mess! we'll have more after this. v
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neil: big republican mundo nors who would sooner give to hillary clinton than donald trump or? well, it is not a big theme, but
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it is something that's been happening a lot lately, and i'm wondering if that could be a trend. media mogul stanley hubbard joins us on the phone. a lot of pay attention to him for good reasons. he's a very thoughtful, consider rate guy, and i want him to consider what's going on and whether it's a big deal as he sees it. stanley, always good to have you. what do you make of this? i was reading this, i was shocked to see all the big donations from wall street, 53% of which have gone to hillary clinton. and a fraction, a fraction, less than 1% -- now, i know donald trump's been self-funding up until this point -- to donald trump. what does that tell you? >> well, it tells me some people vote for their own good rather than for the country's good, and they're giving money to hillary because they think she'll be president. neil: well, there is that sort of shallow way to go but, i mean, what does it say to donald trump? >> i'm a team player, neil, and all my candidates dropped out one by one, and now we have
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donald trump, and i'm a team player. i'm going to tell you something. do you want to have hillary clinton appoint a new supreme court justice, or would you rather have donald trump do it? it's really easy answer for me. we're team players, we stick with the team, and we don't take the ball and go home because the game didn't end the way we wanted it. neil: so, stanley, when you hear that paul ryan hasn't made up his mind on donald trump, when you hear that no one in the bush family's even going to bother going to the convention, let alone support donald trump, when you hear mitt romney is aggressively seeking out a third-party alternative to donald trump, what do you think of all of that? >> el, i'm very -- well, i'm very disappointed. mitt romney was a terrible candidate, didn't understand how to reach the common person. i'm interested in the bushs, because it didn't go their way. sorry. did i approve all of what donald trump did or what he said? no. but he's our candidate, and he'll be a heck of a lot better than hillary clinton.
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neil: i hear you. one of the things he mentioned, it did make sense that he went ahead and agreed to this pledge not to bolt from the party. of course, we'll never know whether he would have stuck to that if he had lost, but he did agree to it. and now the very candidates who are ripping him a new one, several of them have bolted from that pledge. what do you make of that? >> i think it's terrible. you give your word, you keep your word. neil: what about those who say he is pivoting more than we ever did? he is already changing his view on taxes, on refinancing government debt which they say would be tantamount to, you know, default? that on the minimum wage he, too, is shifting positions? he's not even waiting for the convention to do it. they say he's not even a true conservative. >> bologna. neil: you want to elaborate on that, stanley? >> say a general has a question, do we bomb or don't we bomb. well, you know, when you have to make a decision, then you reach those things, and you're going to hear from a lot of people.
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and i don't think trump's a fool. he's proven he's a winner. and although he wasn't my favorite candidate, i think he will moderate a lot of those i views, and i think he's till our best choice. and if we leave him, we're going to have hillary as president. simple as that. neil: so those who say they'll seek out a third-party candidate are only dooming the party in so doing, right? >> that's what i think. you want to elect hillary, go for a third candidate. neil: you said you'd much sooner trust a donald trump, paraphrasing here, making those supreme court choices than hillary. i was hearing from some of these folks that say given his recent pivots, we're not quite sure of what kind of people he would appoint to the supreme court. >> well, i'm a lot more sure of him than i am of hillary clinton. neil: there is that. stanley, what do you think of republicans in this disarray before the convention? we've already heard paul ryan's office say, look, after their powwow thursday if donald trump decides he doesn't want the speaker acting as chair of the republican national convention,
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he won't do it, he'll step down. what are the odds of that? >> well, i don't know what the odds are. we had a meeting this morning here in minnesota what to we do about trump and our candidates for the state legislature, and my suggestioning -- and everybody agreed -- let's call off some weight and see what happens. these people aren't stupid. trump's not stupid, the republican party's not stupid let's see what happens in a couple months. it's stupid to jump off the wall this early. neil: yet many are. and donald trump, who had said he would self-fund his whole campaign, is not applying that to the general election. do you think that'll hurt him? that his message was i'm paying for this whole enically lad da -- enchilada, and maybe there are going to be a lot of folks who will be helping him out? >> anybody who wants to see sensible message better get
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onboard. neil: even though donald trump looks like he's backing away from something he promised, not to be beholden to anyone? >> well, i think that's true of trump. he doesn't have to be beholden to anyone. but i think he'll listen to reasonable people. neil: do you think he can raise the amount of money he would need in time? because all of this is happening so late in the game. >> i would hope so. neil: you sound like you have your doubts. >> well, i don't have doubts because anybody who makes a prediction is a fool. [laughter] who knows? but i think as time goes by people are going to realize we have two choices, either donald trump who may not be our favorite choice, or hillary clinton who's our worst choice. it's as simple as that. neil: do you think this all comes -- this is my crackpot theory, stanley, and you're, please, shoot it down if you want because it's just a crackpot theory. i think what hurt donald trump weren't his positions, it was his language. it was his little marco, jeb "low energy" bush, you know the
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drill, that all these personal insults, that's what's not sticking well with these folks. and had he not -- had he dialed that back maybe sooner, it's too late now to say all is forgiven, and they're having a tough time with that. what do you say? >> i didn't like the way he comported himself either. i think it was pretty disgusting, and it sent a wrong message to our kids. but the bottom line is do we like him or don't we like him is beside the point. the question is who's going to do the best job for america, and i think donald trump. neil: stanley, finally, i'm sure you're familiar with these protests going on in chicago. they're supposed to spread on what they're calling moral monday. arguing that the poor, the middle class are getting screwed by rich guys and that they want the rich to pay a lot more taxes, $23 billion more in taxes to help them out. and that this is part of a scene we've seen play out across the country, but that it's not a good time to be rich, not a good
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time to say that's the american way especially when barack obama echoed again over the weekend at a graduation speech at howard university that a lot of the rich just got lucky. that i guess you got lucky. what do you think of that? >> i think the direct broadcast satellite business we didn't get lucky, we bet the whole -- everything we owned on it, and that's what entrepreneurs do. and entrepreneurs create jobs, and banks create jobs. and all this nonsense about the rich has to be stopped because it's the so-called rich who invest the money, take the risk and provide jobs and opportunity. neil: stanley hubbard, thank you for taking the time, hubbard broadcasting ceo. created that out of nothing. very big republican donor right now and true to his beliefs will accept donald trump. he'll be holding his nose, but saying it beats the alternative. you don't hear that many who are that frank and that direct, that's why we thought we'd share his comments with you.
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as those protests continue now in chicago, wondering whether any of them heard any of that? after this. ♪ ♪
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>> i'm jo ling kent with your business headlines from coast to coast. chase challenging the mental competent sit of sumner redstone is dissed after one day in court. 92-year-old redstone is controlling shareholder of viacom and cbs corporation. that he tried to reevict his former girlfriend from his home and rye move her as her health caregiver. she is suing redstone's daughter and the household staff for at least $70 million. there is the stock moving on the news. facebook suppressed conservative political posts on its newsfied. former facebook employees were
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told to suppress political activity in more than a billion people are log on to facebook daily. the company has not responded to our requests for comment. krispy kreme shares popping more than 20% right now. the doughnut chain agreed to be taken private by ja beech in luxembourg. they own keurig green mountain coffee and peet's, caribou, my favorite, neil. neil: jo ling, thank you very much. on more money protests going on, stanley hubbard, big broadcasting ceo, billionaire who just laments this targeting the rich. larry glazer with the latest how this is falling out. what hubbard is saying, larry, the message is dangerous here. that it is sort of like a french revolution thing here. that equates wealth with evil. what do you think?
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>> i think he is spot-on, neil. someone created a business, in position to make the claims. prime minister margaret thatcher made the argument that the problem with socialism eventually you rin out of other people's money to spend. that is the issue we saw play out in greece, with their austerity protests. now we're seeing it come out closer to home. decades of financial populism have consequences because they become culturally ingrained and they're very difficult to overcome. neil, as we saw in puerto rico, you had higher and higher taxes, eventually$0 billion in debt. 70,000 people left puerto rico with the main land. all the smart, intelligent people with business leave. that is the danger facing illinois right now. you have highest property taxes in the country. as taxes continue to increase you will see all those businesses leave. smart people leave right behind them. people eventually will follow. neil: larry, one of the ideas they submitted, our jeff flock you hope to get to there, look,
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just charge, per trade at cme. penny as trade. it will raise billions of dollars of revenue. no fuss, no muss, what do you say? >> look at puerto rico. ask puerto ricans how that worked with all the businesses left? that is the example. it is cost prohibitive to in many areas of chicago suburbs. with financial institutions and financial transactions and big exchanges, they can move and relocate the businesses just like businesses have been doing from high-cost states. look at connecticut, neil, general electric got taxed out of connecticut, fled to massachusetts, which is not inexpensive. connecticut is in trouble. all these crazy schemes. illinois needs to generate growth and get their own house in order without taxing best and brightest minds out of the state. neil: jeff flock in chicago in middle of all this this point worried stanley hubbard,
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billionaire broadcaster, big donor, he doesn't like the way this makes every rich personlucr intrinsically evil or both. he thinks this is a dangerous trend. how does that -- i imagine that falls on deaf ears? >> reporter: well in this crowd i would think so. you talked about french revolution. that is a little bit of what we're seeing. this is the target at this hour is citadel, the hedge fund firm and ken griffin, the fellow who founded it. they have now shut down the entrance to the citadel center here. you see the signs there, ken griffin being targeted. right now this building being shut down. and this is a crowd, a diverse crowd, black, white, young, old, students, older folks, and you know, this is not falling on deaf ears in illinois right now because currently this state does not have the a budget. so this perhaps has increased resonance here because of the
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battle between the republican governor and the state legislature that has cut off funding for a lot of programs. so, people, we can have this philosophical discussion but right now, real, you know, losses are being incurred, real programs being cut that hurt real people. this message in illinois particularly is getting resonance right now. you see picture, neil, inside of citadel center here. this is on dearborn street in chicago. this is the headquarters of citadel, ken griffin huge fund which has done very well. perhaps illinois's richest resident. certainly chicago's richest residence. right now access to his build something shut down as perhaps you can see. this is the voice that is being heard now. neil: if you can stay there, jeff. want to bring mr. glazer back to this. you're seeing all of this, larry. i'm thinking in new jersey, this is my home case, case of billionaire david tepper, left
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the state some time ago, big hedge fund manager to escape the state's high income tax, approaches 9%, 10%, he moved to florida where there is no such tax. it is very possible in this case, you see this hedge fund like others, leave. so these people are very angry about a budget that leaves them in the middle of nothing getting done, programs getting cut. you can understand the frustration but the people they hope to tap to ameliorate that, up and leave. how real of a threat is that? >> look, i get it. it is frustrating. very expensive to live in chicago right now. they have a right to be upset. they should be upset at their own politicians for leading them astray and creating culture of no innovation, lousy schools, despite tens of millions of dollars get poured in. they should be angry and turn anger on people that created problem. the reality, great nairtive, the top 1% will solve the problems by taxing them into oblivion. they will leave and move to
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florida. what you will be left with high property taxes for plumbers and carpenters and middle class people who will have to bear the brunt of this excessive tax burden. the story doesn't play out way they like it to. great for a protest. everybody hands higher wages, but reality they're hurting themselves. that is the message they're not getting here. neil: thank you you both very much. jeff, go ahead. you were going to say? reporter: i was going to say people here though would say, somebody in the crowd pointed to me, donald trump's comments over the weekend. i know he backed off of them to some degree, but there are a lost wealthy people who would say i am willing to pay more, if this is item of fairness. we have been blessed. we have done tremendously well. but i would personally be willing to contribute more in a fair way. and maybe you know, taxes on lasalle street traders. there is currently no tax. if i go into a store i pay sales tax on something i purchase.
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clearly yes, there is a tax if i have made a profit on that trade but there is no tax, even pennies on a trade. so, this is, this is, the argument that would be made here. by the way, i want to update you, protesters gotten being's to inside of the building. you are looking at people linking arms in some fashion and blocked elevators. this citadel center has been in fact shut down as we speak. neil? neil: thank you very much. fair economy illinois, coalition putting this together is calling for $23 billion in revenue including about 2 1/2 billion dollars in increased taxes and corporations. $9 billion from the state graduated income tax. 12 billion from lasalle street tax on trades, to help close that gap. now, enter bernie sanders, who is argued that just taxing the rich for this type of stuff isn't going to do it. say what you will of bernie sanders, whether you support him or not. you realize just going after very wealthy that isn't going to pay for all the programs.
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so he extended higher taxes to middle class. to be fair, bernie sanders and wife jane sanders telling me recently as last week they believe the middle class will get far more back than the money they're putting but at least he did basic math to say zooming for the 1% or high income ain't alone going to pay for all of this. battle rages on. moral monday has just started. stick around.
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>> from the floor of the new york stock exchange, i'm ashley webster, your fox business brief. quiet to mixed after trading week. dow off .1 of a percent. s&p and nasdaq moving slightly higher. nasdaq up half of a percent. lawsuit involving sumner redstone, majority stakeholder and viacom and cbs. california judge throwing that suit out about dealing with his mental competency. viacom and cbs moving down. cbs down nearly 2 1/2%. taking a look at oil snapping three days of gains. concerns more in the market about the shake-up in saudi arabia and appointment of a new oil minister. those energy stocks helping to drag the market lower on a day where the volume isn't that high. consol energy down 6% as you can see. latest from the new york stock exchange. more from
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"cavuto: coast to coast" next.
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neil: you are looking live in chick he go where they're conducting people plan fet first. fair economy illinois pushing for 23 billion in new revenue come from variety of taxes on wealthy. traders at cme and elsewhere, to put things up for everything from education to more bus
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service, train service, better transportation. it covers a panoply of issues. a lot of this sounds familiar, the same city was crap pelling with same frozen the budget issue. same democratic legislature and republican governor, people are getting angry. seeing played out across "the globe" in greece. protests in athens. ashley webster joins these things. jeff flock in the middle of all of that. in chicago, jeff to you first. seems to be getting more crowded and seems to be getting more loud. reporter: yeah, it is. protesters are look sticking right with it. they are effectively shutting this building down. this is citadel capital management. this is a hedge fund operated and founded by ken griffin. in particular, particular target here as you can see.
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they're saying if we don't get it, shut it down. and this is the very vociferious at this point and not violent but clear civil disobedience, as you see perhaps from the pictures, neil, we're not seeing any police officers. we're seeing plenty of protesters who have now shut these entrances and exits down to citadel center here and folks inside of the building as well, maybe if we move our camera farther down, you can see the protesters that gained access. there is a police officer or two on the inside, presumably, attempting to get those protesters out but they have now sat down, if we get through the crowd here you can see that. earlier they were standing blocking the entrance. they are now, sitting down inside of the lobby of citadel center and protesters are outside blocking these doors. you see this gentleman here to my right who is, got his hands
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on the doors. nobody is coming in or out. police officer, as you can see inside, maybe you can see off to the right there, dave, inside, there is one police officer or two, but on the outside here, in terms of protesters, that are blocking outside i don't see any police officers. so, this is the scene here. there have been other moral mondays protests. we famously covered one at cme. they were successful shutting that building down. there are fewer entrances to this one though, fairly new building, used to be the site of the old sears headquarters. maybe that tells you something how things changed in chicago and priorities, at any rate, that is where the protests stand at the moment. presumably protesters won't be here forever. but for now they have succeeded in shutting this building down. neil: has anyone tried to leave the building though? they're not all billionaires in that building. some are secretaries, assistants, i don't know, security personnel?
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have any of them tried to leave and say look, i'm not the hedge fund dude? reporter: you can perhaps see, there are a number of employees that are at the elevator banks, just inside of the security there. these are people that presumably, i'm not able to talk to them on inside yet, that would like to leave but at this point, the doors are shut. and, you know, i don't know a whole lot about the security in this building, but at cme, there are multiple entrances and exits. but one thing, as you try to shut the place down you can't do it. there are too many ways above ground, underground, there are many ways to leave the building. security is fairly tight. there are fairly controlled exits and entrances. the ones controlled are controlled by protesters. in answer to your question, sorry for the long answer, a lot of people do want to come out not at this point able to come
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out. they don't look like billionaires to me. there you go. neil: ashley ebb -- webster, you've seen this in athens and other capitals where you covered worker protests or the like? >> what do you make of this, >> neil, greece is never-ending ground hog day. the anger focused on government and rich people. they don't blame the rich people. they have long gone put their money in switzerland. they're upset for the government of miss use and mismanagement of their money. that could be more accurate in their case. mismanagement of chicago. the school system and everything else, going after the rich. they're going after the wrong people. and greece is like, they retire at 48. they can't do that anymore. there is a lot of anger about that as well. it is interesting to watch. all very up to now very civilized. in greece it is gas masks and police dogs and riot gear.
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that is the not case here but i think their protest is misdirected. neil: connell, seeing much of this yourself at various protest, common seems to be anger at a system failed the little guy, failed the middle income guy. could explain a lot of populist ragebehind bernie sanders, in a way, donald trump. >> right. neil: as jeff touched on earlier, the rich should pay more. a lot of them would be happy to pay more. how do you sort this out? >> that is only thing that makes this a little bit different, neil, otherwise to borrow ashley's phrase, the groundhog day element, we've seen jeff cover so many protests in the city of chicago over the last few months, really. but the news flow of the day kind of distinguishes it in, to some degree donald trump is on the sunday shows over the weekend talking about the rich possibly paying higher taxes. i know he tried to clarify that a bit on maria's show this morning but at the same time, "wall street journal" is writing article about how hillary clinton, his opponent on the democratic side of the presidential race, presumably in the fall, is friend of
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wall street and is getting all donations from wall street. almost brings to mind the question of who are these people going to be protesting against, since the presidential race we're watch something so strange and so contradictly so many ways. one they seem to be so upset about. neil: you hang in there. protesters sort of morphed into bigger than probably originally thought to be case. many chicagoance venting with a budget yet to be signed off and delivered for people. a lot of people feel they're getting short end of the stick here. they're not happy about it. it played out globally. the target seems to be the rich. stanley hubbard, big broadcasting billionaire and donor says the rich aren't the problem. the governments abuse the privilege of spending their tax money, they are. that could be falling on deaf ears today though. the protests are loud and target of the rich very, very clear
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go long™. ♪ neil: to chicago right now, this is what happens when you go a year without a budget. you have a big ol' impasse in state of illinois between a democratic legislature and republican governor who can't see eye-to-eye. programs get frozen and spending runs out. nerves frayed thin. stanley hubbard, broadcasting ceo, billionaire donor, doesn't like the theme of this one, blaming the rich for this type of thing. >> entrepreneurs create jobs and banks create jobs and all this nonsense about the rich has to be stopped because it is so-called rich who invest money, take the risk and provide jobs and opportunity. neil: in the middle of that chicago mayhem there, mayhem is probably too strong of a word,
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but when you're blocking buildings making it difficult for people to get in or out of a building it is problematic. back with my colleagues jeff flock, connell mcshane, and holly joins us former dnc press secretary as well, ashley webster, at new york stock exchange. i didn't know he was still with us. i apologize at that. holly, you're looking at all of this. this is something bernie sanders has been pounding and these folks clearly are hearing. is hillary clinton hearing this? >> i think it is clear both of our candidates, majority of americans believe that rich people should pay fair share share. neil: what is their fair share, holly? what is the fair share. >> millionaires are paying higher tax rate than the rest of americans who have a little more help getting by. neil: so, not 40% now, what should it be. >> we've seen lot of different proposals from lots of different candidates. we're still in competitive
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primary but you know, i think that it is clear that americans are on board with that. even donald trump somehow -- neil: you're not answering my question, holly, what is fair share? what is fair share? >> i think that it is clear all americans, majority of americans across the country believe that millionaires should pay higher tax bracket than other americans. i don't think there -- neil: you're not answering my question. i love having you but i prefer if you answer my question. one of the things i see going on here, is palpable frustration with the system that seems to prompt a little guy say i'm getting gouge, i'm getting secured. one issues comes up is tax on trades, for those who trade largely in futures, all of this. chicago mercantile exchange. others argue that the wealthy there should pay a surtax. but, the focus seems to be on more revenue coming in. it is understandable, that, but it is really politicians and their impasse that prompted all of this, isn't it? ashley?
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>> it is, indeed, neil. i was so stunned by the question, looking at video, absolutely right, back to my point earlier, what are they doing revenue they already got? answer is throw more money at it. to stanley hubbard's point. he is absolutely right. 50% of this country don't pay any federal income tax at all. all you want to do is keep turning around, telling rich you need to be paying more. you need to be paying more. at some point you got to say enough is enough. neil: you know, jeff flock, in the middle of all of that, looks like folks are being arrested. what's going on? reporter: what they're trying to do, these protesters have cylinders they put their harms insided and locked themselves together inside of the these cylinders. virtually impossible at least at moment for police to get them apart. if you can't get them apart, it becomes much more difficult for them to be extricated.
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i would make one observation listening to your discussion, having spent last couple of weeks covering various donald trump rallies, across the country, that i think it is fair to say there are number of people at those trump rallies that would be supportive of increased taxes on the wealthy. this is perhaps one of the reasons donald trump makes the point, that a lot of people that support him would support this concept. now would they be of same ilk of protesters here in chicago. would they be same political party or political stripe, i don't think so. but they perhaps share that. and, that is my two cents, but i just need to report to you that as you look at this picture, you are seeing the cylinders. this is something i haven't seen before. maybe ashley or somebody who has been in the midst of the greeks -- neil: they put ashley in cylinders. they put him in cylinder and carted him off.
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reporter: need a bigger cylinder. neil: you mentioned donald trump. donald trump reneged on tax plan, saying he is now, i am lower taxes than anybody, any proposal to congress would be lower than the current. to rich's point, rich would pay a little bit more. net result would be less than they are now. i don't know that is a message would satisfy a crowd like this or for example, a bernie sanders crowd that wants to see the rich pay more period. but how do you think it all boils down. >> strange connection between trump and sanders supporters which doesn't involve this issue. i would actually talk to somebody you know pretty well, former congressman dennis kucinich about this. i thought what he said was interesting. issues that bring the two camps together a lot of people saying
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if i'm not for trump but sanders ar this issue of, you know, it income equality bringing them together. i thought that they were pretty far apart. the two of them on the issues. somehow, money that is not reaching them. that is a worldwide issue. >> it is very extreme. a country that is bankrupt. giving money to get their financial apps in order. i saw it. i think you can see it in another european country. where does it go they are always
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coming back. they will want more and more. i think that there is a bigger issue out there. one is a government did how are they spending this money? you mentioned a little bit earlier. do any of them step back and wonder? more to the point, he was tracking it? the majority of americans it will be more well spent. the deficit. would it go for money not being wasted.
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people will be half the tip a more. i want to show you the extreme here. they have tried to screen you from view of what is going on here. >> thank you very much. take it from there. >> we will stay all over it. storming into the successful hedge form headquarters. you are looking at the doorways. they are demanding. lawmakers cannot agree in over a year. i am trish regan. welcome, everyone, to the intelligence report.


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