tv Bulls Bears FOX Business July 31, 2016 2:00am-2:31am EDT
place, any time, anywhere. theirs is a war story that deserves to be told. i'm oliver north. good night. taking this car home. taking this car how do i look? >> look like you would get into a lot of trouble. >> it's on. trump versus clinton. the general election campaign officially kicking off and it's happening just as we're finding out that the economy still isn't taking off. growing just 1.2% between april and june. much less than expected. the quarter before that revised downward. so with the economy, the number one issue with voters, which nominee's tax plan can get it booming again? hi, everybody. this is "bulls and bears." the bulls and bears, gary, john, miss though fellows along with lee carter and chuck. welcome to everybody.
let's start with hillary's tax plan. she told everyone thursday night she'll hike them on companies, wall street and the weathery. >> which is going to benefit the economy. that's going to hurt the economy especially she's going after business. bernie sanders drug hillary clinton to the left during this primary and that's where she is staying because she has to appeal to her base. that certainly -- she's basically leaving taxes flat on the middle class and raising just on the wealthy, wall street and business. the problem we have is 19% is the tax revenue of gdp at the very top end. it's not a matter we need more revenue. we need some fiscal constraint. when you compare to donald trump he's going to cut taxes massively. now, will that spur the economy, absolutely. the long term if mr. trump is wrong about how many jobs that creates, you'll add nine or ten
trillion over the next decade. >> gary you're a numbers dude and you're a geek like me, trump's economy with his tax plan grows at a double digit rate and hillary clinton's is negative. >> exactly. i think -- i will take being a geek by the way as a compliment. >> it was. >> if you're a geek, i am complimented to also be a geek. look, i don't think anyone would argue and i'm sure chuck would say that the next four years under hillary is going to be like the last eight years under obama. so you got to look at the big driver of jobs is gdp. obama's gdp growth been since the recession? about half the average, about 14% amongst the prior 7 recessions we had. it's been anemic. 70% of the country says we're on the wrong track.
we have labor force participation rate back at 1977 levels and we have homeowner ship percentage back in linden b. johnson days. because of the stimulus money that was spent that no one knows what it did. and you talk about the donald trump -- the double digit, yeah, the tax foundation found that he would achieve at 11% growth in gdp. does it come with cost? absolute absolutely. the thing we're waiting for is how he's going to cut government spending but knowing what i've seen in the past and what i hope to see in the future, i definitely think trump is the person to create jobs and increase the gdp. >> chuck, we know under the obama administration growth has been the weakest that we have seen since 1949 at least. >> well, i'll say this first.
the thing i miss gary and his numbers, it's been a bit since i've been on the show and just reminded me that i know what i'm talking about. i've been traveling around the country running the campaign. so i've got to talk to a lot of americans like me that own a small business. i know john has my back on this. i'm running an llc and taxed at a high bracket and i had an amazing spring and some point i'll have to have the conversation off the air about what i do with my little bit of money. what i do know is i've hired two more people. when i make more money i get to hire more people but paying this big tax. hillary's tax plan says there's lots of corporations aren't paying anywhere near what i'm paying as a small businessman. it's not me paying too much taxes but corporations and businesses not paying nearly what i'm having to pay. >> i think that it's a nice sentiment to say that small businesses are the ones that are
suffering but this is how the opportunity to take our business overseas. they're doing things in other places. if we don't start giving big companies tax rates they have shown us they're going to leave. look at what other companies have done who don't make it more favorable here. we're going to lose. i think we have to give incentives to bring jobs back here. >> from 35% to 15% is where trump wants to take the overall corporate tax rate. hillary clinton won't commit to a lower rate that obama has. >> why don't we go to zero while we're at it? first of all, corporation is double taxation. if they paid zero the executives will pay a higher tax rate. you act like that's their rate. it's on top of all the income taxes and all the shareholders and executives get in salary. double taxation. getting back to the differences. look, hillary has a tax increase, what's better for the economy to show we're trying to get out of the recession with
the trump plan. when you have to fix that hole you just created in the budget you have to have a tax increase. that causes an economic drag. we're in one right now partially because obama had to raise taxes to pay for the tax cuts we had before and we never cut anything. so i won't say that in closing they both have good things. the trump plan has zero rate on the amount of money and hillary we have a certain amount regardless of incorporations and these a nice part. i think you can make something work when you combine them. >> john, i have a feeling that's not the last time we will be hearing from jonus during this program. hillary clinton talks about this massive government spending plan that she is planning her first in office. government knows better on how
to spend our money not the individual and not the person who actually earned it. >> yeah. that is absolutely insane. gary johnson is the only one that has a balanced budget. a separate debate. the debt has doubled under president obama and doubled under president bush. this is unsustainable. the government refuses to reign in spending and the fact they can spend more money, look, this stimulus package, look at stimulus before and after and during this stimulus for several ready jobs. it was flat. exactly the same. this money went to shore up pensions, unions obligations, that's what it went to. that's what government spends money on and the fact that chuck la roach is talking about the fact small business can pay city and state, they're paying 50% of their taxes and these corporations, it is criminal. i mean that literally. it is criminal what these guys are getting away with because they bought off politicians over the year and paying the
effective tax rate. if you want to compete with overseas, that's a separate issue. you got to lower the small businesses regulations and taxes because that's where half jobs are created. >> chuck we haven't had growth faster than 3% during the entire obama administration period. >> great point. but much better growth than the bush years. is it nowhere where we need to be yet. we should have a robust economy and businesses growing every day. there needs to be the kind of investment john was talking about, things that put people back to work that america needs. we have roads and bridges crumbling. i'm not saying that should be wasted away on something else. that's what's always made us different, our roads, bridges, infrastructure is state of the art and now it's falling to pieces. >> gary? >> well, you know, they will look at the number of jobs obama has created from the very bottom
of the recession and go to the very top and say look how good of a -- if you take the end of the recession since chuck brought it up, and i don't want to get too deep into it, the 25 quarters since, the gdp under obama has been 14%. after the recession in 2001 it was 17%. after the recession in '79, '80 it was 34%. no way you could look at the actual numbers and say obama has been a growth president. he's been at best an okay president because of the things you point out. and the things that john pointed out, that $833 billion in stimulus which we might as well taken that money and sent it out to the gulf of mexico because that's how much of these shovel-read dif jobs it did. it did nothing. that's what we can count on with four or god bless eight more years of hillary.
>> more than 2/3 of this country headed in the wrong direction. thank you guys. charles, what have you got? >> as hillary hits the trail on her bus tour, the dnc laughing about trump's plan to cut our debt. someone here says the joke is on them. we'll explain. plus the protest turning violent. why are bernie supporters angry? we'll see you at the bottom of the hour. >> thanks, charles. >> we can't wait. up here first, trump renewing his call to halt our refugee program as isis calls for attacks on the u.s. capitol. is he right or wrong? you debate. you decide. you decide. next. 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?
catholic priest in france this week. with isis already sneaking in terrorists with refugees in europe, donald trump is renewing his call to halt our refugee program here. hillary clinton saying we could let more into the u.s. who has it right? >> i think trump does. i don't quite get it. i don't get what is wrong and no one has said to me what is wrong with temporarily halting the refugee program. you know, it's funny. later in the show and we're talking about the zika virus. the left wants to spend billions of dollars to prevent these mosquitoes coming in and doing irreparable hard and refugees coming in and bombing another world trade center or bridge or restaurant. they're like oh, no, let them in, let's do the damage. i think donald trump has it right. not only do the refugees come in and potentially are terrorists but they also get medicaid, food
stamps, we can't afford them in my regard. >> hillary clinton has been on the record in one interview saying we should go from the 10,000 number from refugees that president obama has pushed to 65,000. you know, it's astounding to me right now that this is even on the table. if we were talking about chipotle and they had bad food out there we wouldn't say let's do more of it because we want the business to grow. we would say let's stop. if you had a dozen eggs and one was rotten you would want to find a way to make sure to know which one was rotten before you served it to people. it means we're trying to be smart and protect the people we have right now. we can be loving and supportive and find ways to help them but right now we know they're a threat to us and we have got to keep our country and our people safe. >> a number of the attacks, chuck, in germany in particular which registered a million
refugees last year. a syrian refugee suicide bombing outside of a concert known to be highly dangerous. a asylum seeker murdering a polish woman with her unborn baby with a mow shetty and angela merkel admits they don't have control. >> we can figure out how to put a cell phone inside a thimble but can't figure out how to do investigations on visa except women and children fleeing for their lives. i know they went up to congress and said they couldn't fool anybody. we should be able to investigate people coming in and do an investigation so women and children are not dying. i am not saying we should let anybody near our country who
wants to do us harm. >> the fbi is completely overworked and they can only do 24 hour surveillance on maybe at the maximum 10% of those cases. >> i'm going to go off the chipotle example. they don't say we're not going to serve chicken burritos and stuff because that's going to stamp out salmonella. it would but it's an unamerican way to solve a problem. i will say though that i don't think this is the best for the immigrants. if you want to help the people, i think you should spend more money and make secure zones in their area. i'm not against so much the bringing -- i just don't think that's helping them as much as you can but i will say not many people out of prison that cuts down crime. >> we're not going to stop letting people out of prison to have less crime. >> john? >> jhonas is right on how we use the resources. forget we have 50,000 homeless
vets that we don't take care of at all but when you talk about 65,000 refugees, last year we took care of 70,000, spent $17,000 per refugee. we go over there and fly them back over to our country. you're dealing approximately when you're talking about syria alone about 10 million dislodged are refugees right now. this isn't even a drop in the bucket that we're doing anything to help. it's better like jhonas says the people in europe to make the refugee camps better, send money and help them over there instead of flying a few to the united states. >> thanks guys. cashing in just over an hour from now. what do you guys have? >> nancy pelosi says white men without a college degree don't like hillary clinton because of god, guns and gays. and trump says we should team up with russia to beat isis.
pass funding immediately. do you agree? >> i think we need to fund this but the time to do it was before we went into recess. it was blocked before we went into recess and now harry reid is going to try to be the hero to say let's get it done. we should have had a six week start on that. >> she's right. there was a bill on the debt that congress refused to pass. we could fix this. we have done it before. all these idiots fly back to d.c., do your job. pay for your travel yourself, then take a vacation and never come back. >> jhonas? >> in miami where we go to the salty donut, where we spend $10 million it's not going to help because they're not making it profitable for drug companies. cholesterol drug, that's where the money is. give the ethanol people money. >> up more than half a billion dollars has already gone to fight zika. >> exactly. you know what, i kind of
disagree with john and lee, the money is already there. remember the last scare we had, ebola was going to engulf the whole country. guess how much is unspent? almost the same amount. $3 billion unspent on ebola that obama is requesting to fight zika. the problem is the money is there. it's probably in hillary clinton's seat cushions there. we have it, just got to move it over. >> i dislike the florida governor as much as i dislike my treadmill. >> thank you so much. thank you for joining us. coming up everybody, the pokemon go craze going crazy and someone says it's still not too late to make crazy profits from them.
predictions, gary, go. >> couldn't make it any easier, buy am son. it's going to be $1,000 in two years. >> what do you say? >> henry, let's cool it with the $1,000 predictions with amazon. >> you don't like it? >> no. >> john, your prediction? >> ford had a hardy shift this week. it's up 20% in the year i believe. >> gary, you look like a chevy driver. >> it had an unauthorized stock split i think when i saw it. wait until it goes to $10 before you buy. >> jhonas your prediction? >> there's a pokemon right there. i won't say this is good for t mobile because they're allowing the pokemon data to be free. 15% in the year. >> john, put this man in his
place. >> it's right on your shoulder. >> i'm an adult with a life. i don't know anything about pokemon. i'm a bear on jhonas. >> you'll pay for saying that about taking your photos to women. anks for joining us. charles is now. to the general election face-off and who is going to take the nation's debt on. the candidates hit the trail this weekend, it's this hit on donald trump at the dnc not sitting well with someone here. >> donald says he might pay off new debt by printing money. >> you can do that? >> no. in economic terms we would describe this as a -- >> sad thing. >> more like a [ bleep ]. that would really [ bleep ] this economy for decades to come. >> what bleeping hypocrisy. hello everyone. ben stein, charlie