tv Making Money With Charles Payne FOX Business August 9, 2016 6:00pm-7:01pm EDT
during the trading session. donald trump will speak at a rally in north carolina. it's a pivotal state. "making money" with charles payne is coming up next. charles: breaking news. we are waiting for donald trump's second north carolina rally. this one in fayetteville. he caused another controversy in a rally. we'll keep an eye on this one and bring you news as we have it. donald trump is pushing his economic plan. reinforcing his promise to reduce regulation and grow the economy. i want to get right to my first guest. the trump campaign's national finance campaign chairman. steven, welcome to the show.
i wanted to have you, obviously the speech is well received among republicans and donald trump backers. what's the feedback you have gotten today? >> extremely positive. i think it differentiates the trump economic plan from the clinton economic plan. this is about pro jobs and pro growth. we are excited to see the details and see the platform. charles: we don't know how the brackets break out. the only criticism i saw from an economic point of view. they are still worried about a trade war. that's a central part of donald trump's economic platform and election platform. i did hear donald trump say isolation is not an option and he was in favor of trade.
>> i read that in the "wall street journal" and i was surprised they said that. donald trump absolutely believes in free trade and fair trade. this is not about creating trade wars. trade is critical to the growth of economy. but it's also important awful our foreign counter parts honor their agreement. >> you would say that donald trump is committed to fighting -- you could even say tooth and nail if these partners don't want to renegotiate nafta. he would be willing to walk away from it and enact tariffs on china particularly. >> let me be clear. if our partners don't honor the agreements and the agreements are not good for the american public we'll be renegotiating them. with china there are issues with violation of the wto.
in the case of nafta, there are taxes that are on theoer side from -- on the other side from mexico that we believe are not good for the american worker. they don't have tariffs on things coming into the united states. charles: donald trump and his team, you guys are repaired to go all the way if mexico and china don't blink. >> i don't want to say this is all the way or not all the way. but we believe in fair trade and we'll negotiate agreements for both parties. what this is about is a pro-growth platform. lowering taxes on large businesses and small businesses and creating simpler taxes for individuals, especially for the middle class, and creating tax cuts for the middle class. that's what this platform is about and differentiating itself
from the clinton platform which ot onlyness as usual. do the middle class get tax cuts, but so do the very rich. you know politics will play a big role in this. what will the response be? >> when we come out with the details of this plan, we are look at something that's very fair and focused on what we can afford vis-a-vis the budget. there will be tax reductions in various different aspects of things that could be deducted to simplify this. lower marginal taxes and something that's fair across the board and not big tax cuts to the rich. charles: on childcare, the idea
that being able to deduct it, someone deducting their nanny is someone deducting a lower working class woman who has a babysitter and may not be able to do the deductions but could take advantage of it fit was a tax credit. i have been told there are provisions for that as well. >> when we come out with the details of the plan. for people who can take advantage of the deduction,. it will be offset against payroll taxes. there will be caps on this. this is primary designed for the working middle class who has childcare and needs to be able to afford it. it's an important part of the middle class tax program. charles: i want to ask about how much revenue will be lost to the federal government. in the past some of the ideas donald trump put out there have been scored by a tax foundation and others.
a scoring saying $10 trillion will be lost to the federal government. will this be revenue neutral? >> one of the reasons you see changes in the plan. we acknowledge the original plan thanked certain aspects much it that were expensive. this is something we feel the country can afford. over a 10-year period it can be paid for by additional growth and additional jobs. with higher assumptions of growth you will see revenue neutral. charles: i talked with donald trump about the lower repatriation window. this any talk of removing it all together? >> i think a 10% tax is very fair, combined with the lower 15% taxes to create incentives to make u.s. businesses very
competitive. you look at apple, one of the most successful companies in the world. they have cash they don't bring from overseas and they borrow against it. we think companies will bring back millions if not trillions of dollars onshore. >> if these companies don't, if they are not he deuced by the new tax rates, will there be other action taken by a trump administration to force them to bring some of this money back home? >> absolutely not. we are not looking to force anybody. we are looking for free market incentives where u.s. businesses and corporations can be competitive. we have some of the best corporations and small businesses in the world. and all we need to do is unlock the growth engine. we are not comfortable with 1%
to 1.5% growth. we think this economy can grow significantly great are than that. charles: anyone who studies the economy that this takes us into the reaganesque direction. the other side probably won't necessarily be about the economy but a form social justice and redistribution of wealth. how does your team communicate this to to everyday folks? >> we think everyday folks will understand this plan. the american worker hasn't seen increases in real wages in a long period of time. and we believe all those published unemployment rate is rather low, the real unemployment rate is significantly higher because there is a lot of people who have left the work force. this tax plan will bring people
back to work and make american workers back to work and make american workers and businesses competitive and not have to leave cash offshore because u.s. corporate and business taxes are too high. charles: donald trump was talking, and something came up with regard to a comment on the second amendment and hillary clinton. the media has done crazy over this. but if you did, could you comment on that? >> sure, i did have an opportunity to see it. again, i think this is another area where the media has gone crazy and exaggerated what they think he said. it was very clear what he said. he expects people to again vote with their rights. there is nothing more to it than that. the fact that people are extrapolating and saying in any way he thought something else is ridiculous.
charles: i appreciate it. we'll go through it line by line, and it was a good day for you guys yesterday and today. thanks a lot. donald trump is on day two of hits economic pivot. there are fact checkers out there. we'll look at what the other side has to say. and we'll revisit the comments in north carolina. stay with us. ♪ gaviscon is a proven heartburn remedy that gives you fast-acting, long-lasting relief. it immediately neutralizes acid and only gaviscon helps keep acid down for hours. for fast-acting, long-lasting relief, try doctor-recommended gaviscon.
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might be by the time he gets out it will more than double. but we have to be very accurate. they will say, it hasn't quite doubled. believe me. charles: donald trump took a swipe at all the fact checkers over his economic plan. donald trump and hillary clinton have been taking slams at each other on their economic proposals. >> let's look at what the obama policies have done. their policies produced 1.2% growth. the weakest so-called reconsider are you since the great depression. >> he wants to basically just repackage trickle down economics. charles: .trump's plan have a way to pay for all this? we are talking about tax cuts. do they add up?
of course, killing nafta, will that spark the manufacturing sector? all things everyone is checking and wants to know. let's bring in john tanney and boris epstein. i remember trickle-down economics fondly. if the american public thinks back to ronald reagan they will know it worked out pretty good. >> when people are doing well, particularly people at the top, that money is reinvest into new idea, including companies that logically create jobs. so trump's tax proposal is encouraging. what is discurrenting is all this talk about ripping up trade agreements. trade is the reason we are a rich nation. the rest of the world produces to serve our needs.
trump's trade ideas would ruin his tax ideas. charles: many argue we have these relationships but we have trade deficits. >> trade occurs among individuals, not among countries. i run trade surpluses with my employers, then i run trade deficits with the people month who make my clothe and design the car i drive. trade deficits are the reward for all our hard work. so trump gets that wrong. >> i disagree. we have a $500 billion trade deficit with mexico. $300 billion trade deficit with china. what that means is the united states suffers from trade versus the country trading with us. that's basic economics. charles: do you want a surplus?
>> we did before nafta. >> not true. >> we had a trade surplus with mexico before nafta was put in place, now it flipped. before normalizing when trade relations with china. let's go back to the basic point. donald trump is not anti-trade. they are pro smart trade. stupid trade i when we continue to allow other countries to take advantage of us. charles: when the fed print money out of thin air that's a manipulation of currency. >> we are not keeping our currency at a certain place. that's a direct violation of the rules. charles: violation of these rules over and over again. even barack obama has slapped
tariffed on china on certain things from solar panels. and there are a lot of complaints not just from america but from their other trading partners. so there is some idea we are getting taken advantage of. >> how can you be taken advantage of in trade? that's a signal of producers lining up to serve your needs. charles: if a country can make a product, have it subsidized by it government and make it at such a cheap price they can dump it on. >> the country, that's not trade, is it? >> of course it's trade. they are willing to give us something very cheaply. >> it's not cheaply. >> how is that bad for the american people if they get more goods in return for their work? considering what china does,
china does what a lot of countries around the world do. they peg their currency to the dollar to encourage trade. the chinese currency has risen against the dollar because the u.s. treasury has been so bad about maintaining the dollar's value. but to not trade is not the purpose -- >> that's a complete misnomer. if something costs me $2 and i charge you $100, that's still unfair trade. you are losing out on the deal and i'm gaining on the deal. >> so it's unfair that uber lowers its prices to get more drivers so it puts taxi drivers out of business? >> that's within the united states capitalist system. >> you didn't go after gm's
company for offering products to foreigners. charles: we'll be revisiting this a lot more. more members of the gop are refusing to back donald trump, calling the republican nominee reckless. his comments on the campaign trail didn't help, though someone named susan collins came to his rescue. it's a developing story.
charles: donald trump in hot water with the media today. some are characterizing his remarks as an implication of threat of violence against hillary clinton. >> if she picks her judges, nothing you can do, folks. though the second amendment people, maybe there is. but i'll tell you what. that will abhorrible day.
charles: hillary clinton's campaign has a swift response. they said what trump is saying is dangerous. a person seeking to be president of the united states should not suggest violence in any way. the donald trump campaign seeking to clarify. it's called the power of unification. the second amendment people have amazing spirit and are unified which gives them amazing power. guys, wow, it seems we can't go 24 hours. manufactured crisis or did donald trump say something people should be worried about. >> what we have seen time and time again, hillary, the
democrats making stuff up out of whole cloth. you have a drama because he makes a joke about a baby in a rally. when you have hillary clinton doing things that are obviously dangerous and caused the death of people. what i heard was the power politically of the nra, of gun owners in this country to have an influence on government as it's unfolding. maybe it's a little bit of projection on the democrat's part when it comes to what they hear from him and what they want to tell other people to listen for. i think it's false it's clear what he has done, and it's an indication of the degree to which the democrats will be unfair and lie to the american people. >> there was an article in the "washington post" from senator susan collins. but moments ago she released a statement saying i have been critical of donald trump, but i
don't think that's what he was saying. charles: but it's an example of his looseness with words. >> it's looseness of interpretation. >> i would say -- i took it as not a direct threat. he was trying to crack a joke. but as a presidential candidate you shouldn't say something like that. charles: the suggestion of violence or suggestion of the political power of the nra and the steadfastness of people. >> i think he meant the nra, but he should have released a statement saying i misspoke, we all do it, let's move on. >> if it was a threat he would have referred to gun owners. he referred to the constitution. maybe he was trying to be careful. he didn't want to mention the nra specifically. so he mentioned the second amendment people.
it was a reference to the constitution. >> in 2010 sharron angle got crucified when she said we have the second amendment option. this will be hung over his head. charles: we came into today with the optics of hillary clinton with the orlando shooter's father behind her at a rally. they say the was an accident or they didn't know who he was. maybe they did recognize him. i didn't recognize him. the same attention won't be foisted on her that we'll see in the newspapers tomorrow. >> this is showing trump needs to watch his words. if he had been boring today we would still be talking about the fact that omar mateen's father was standing behind her nodding his head and clapping. >> they want people to be afraid to speak.
when you are afraid to speak, you are afraid to even think about the issues. they want him to not know what to do. it worked with romney and mccain. >> michael hayden came out publicly and said this was a threat. charles: he's one of the 50 republicans who rejected donald trump and said he's dangerous. >> hand was right in that, if you do say something that could be remotely perceived as a threat, you get talked to by the secret service. >> i would disagree with that. what you are looking at with mateen's father in the audience. if that was donald trump they would be demanding he disavow this person. we know there is a double standard. whatever he says, it doesn't
matter. they will make it up, miscon street, and he has to stay focused, say what he means, what he thinks. and make sure other conversations make it clear. charles: tomorrow morning nobody will be talking about the economic plan. the trump campaign has to get it back on track. speaker ryan expected to win his primary faceoff tonight. but he's not winning many fans in the pro-trump crowd or anti-trump crowd. we'll talk about the tightrope he keeps walking. did he go too far in saying he likes paul ryan? at ally bank, no branches equals great rates. it's a fact.
at ally bank, no branches equals 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. charles: the polls close in sconsin in a few minutes from now. paul ryan should easily defeat his pro donald trump supporter. he has been cite sides for trying to plate middle grounds.
it's a high wire act to follow and control of the house is in the balance. helping me break it down, governor brewer, i finds amazing. on social media how many people, cordon * supporters were upset donald trump endorsed paul ryan after paul ryan treated him. >> well, i believe, charles, that everybody is entitled to their opinion. but i think paul ryan is probably the man for the job. being speaker of the house is a difficult position. he will win his election tonight. and donald trump will have to work with him. i saw yesterday with the economic plan that donald presented at the economic club in trait that he has taken on paul ryan's tax program. that's a good sign. they are understanding they have to work together to get the job done for all of us.
i think we need to support them both. charles: donald trump ran against the establishment. of all the establishment, i don't know that anyone has pushed back more than paul ryan. >> that's right. by the many also true the way paul ryan has hand it, it worked incredibly well for trump supporters and people who might vote for trump who are not there yet. they want to see the party come together. they expect republican leadership to wind up supporting him. they don't want to see a fist-pulling endorsement. the pushback come from the two extremes. the only trump and never trump. but for the vast majority of electorate they think it way ryan is doing it is about right. charles: 75% said it was a smart
political move. but 25% said he was strong armed a into that. and diane said we need unity, we must stick together. how do you see this playing out? certainly they are not buddies. but if donald trump is elected, they have to work together. >> we just saw what's worse than trump walk out on fifth avenue and shooting someone. what he needs to do is keep hammering his economic message. but what he's not doing and needs to do and it will help him get people like palm ryan over is to bring in new groups, bring in any lenalls and minorities. you can't be polling with 1% with african-americans. charles: the word is he's got to unify the party before he can unify the country.
i'm sure you might have heard these comments at a rally in north carolina. i think they are being overblown. by think they will be on a newspaper come tomorrow morning. >> are you regarding the second amendment statement? charles: yes. >> i thought that was totally misconstrued by the media. i don't think that's what donald trump was suggesting whatsoever at all. of course, we know that second amendment people of the united states feel strongly and they show that strength by voting. and they can get out there and vote and have their second amendment rights protected with the supreme court justices. donald trump, the left wing meade jails after him onously. the poor man can't say anything without them trying to go with it in a different direction. people have got to wake up and realize that the media sometimes
taints things to the extent -- that was so bizarre when i heard that. bizarre. charles: sometimes is being kind. >> it's not too different from what happened when donald trump said something that was genuinely funny, i thought, in the way he was holding off on endorsing ryan, using exactly the the same language ryan used against him. paul ryan is a big boy, he understood this was a bit of tit for tat. charles: why the gamesmanship either way. every day there is a new republican that says it's not good enough for them to quasi not support donald trump. they are coming out writing op-eds. >> that's because they talk to themselves. >> voters will look at people who back trump and don't forcefully push away from him. they will see it through the
lens of trump. trump is a contagion on many candidates. >> that's what the media would have us believe. you are outlining their position very well. in this particular instance you will see everything trump says will be recharacterized in whatever way it can be put in the worst light to paint him as crazy and persuade republicans they need to distance themselves. the greatest advantage to the left is if republicans don't unite. charles: in the debate they squeaked into the green. my market commentary is coming up next.
charles: donald trump is on stain in fayetteville. let's listen in. >> some of the people i ran against are good. i didn't treat them very nicely. but we'll bring a lot of the people you know and a lot of people you respect. we'll do it based on talent and all the things we need for the different positions. we have such talent in this country, and we are just not using it. such incredible talent. speaking of talent. what's with this voter i.d. in north carolina? what's with this? i keep talking about rig the system.
i watched bernie sanders working, working, working. i said i think the system is rigged. the superdelegates. what happened to bernie? where is he? what happened? but we'll get a lot of bernie voters because i talk about trade and i have been talking about it for many years before i was doing this i have been doing this for 15 months now. long before i was doing this i was talking about trade and what a disgusting situation it is for our country. do you know that two days ago i met a supporter and he's in the tile business. a great guy. but he said his business is being decimated by foreign countries where they make tile and the tile is not nearly as good. and he can't send his tile to those countries because there is a 27% tax. but they can send their stuff in here. and their stuff, by the way is not as good as what this man makes.
the trade thing -- we talk about free trade. i want trade. and i'm not an isolationist. but i want great trade for our country. it's got to be a two-way street. and it will be a two-way street again. it will be a two-way street. he was telling me how impossible for him -- in this case it was china. but it's almost everybody. how impossible it was for him to do business in china -- not for long. we'll do business in china. we are going to do business in china. but we are going to do it on an equal footing. right now they can dump their product. you know what i'm talking about. charles: donald trump in fayetteville, north carolina talking about voter i.d., the rigged system, bernie sanders
supporters and how he has long been against the unfair trait system. hillary clinton may want to ride obama's coat tails. but when you look at the details she may want to goat exact opposite way. ♪ gaviscon is a proven heartburn remedy that gives you fast-acting, long-lasting relief. it immediately neutralizes acid and only gaviscon helps keep acid down for hours. for fast-acting, long-lasting relief, try doctor-recommended gaviscon. if legalzoom has your back.s, over the last 10 years we've helped one million
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charles: it's obvious the affordable care act also known as obamacare will and major issue come november. the last company offering obamacare plans, blue cross has a 39% rate increase, and there is not much the state can do about it. so much for being competitive pricing that president obama promised. this comes on the heels of
humana and united healthcare announcing they are pulling out of obamacare. danielle, you are a hillary supporter. you have got increases in arizona, perhaps 65% texas. 55% new hampshire, 44% colorado, 40%. these are mostly swing state. it hit people right before they go to the polls. i think it's a huge albatross. >> i think the cost constraints are things hillary will have to worry about. but what we are seeing from early studies is that obamacare is working, and it's bringing healthcare to people who didn't have it before and we see fewer people going into financial strait because of it. charles: it depend on how you define working. you can't keep your doctor.
premiums are up and deductibles are up. >> a bronze plan for family of four. the deductible is $11,000. meaning if you joined the obamacare insurance system you basically don't have insurance. it's an embarrassment for hillary clinton. if she trashes what makes no sense, she offends her base. but if she sticks with it she has a major alba cross of failure hanging around her neck. >> we have seen state taking different approaches and we are seeing people are getting better. if we are worrying about income inequality -- charles: what about people who were work and had a doctor they were comfortable with. the premiums are through the roof. deductibles are through the roof. businesses can't hire. this has been like an earthquake
through the u.s. economic system. for the 20 million number i keep hillary talking about, at what cost. could there have been a smarter way of doing it other than this? >> absolutely i'm not going to sit here with you and tell you obamacare is perfect because it's not. but 20 million people, people who would have been bankrupt because they couldn't get healthcare for themselves or their children. that's a win. >> understand should be for catastrophic instances. in which case it would be cheap to get it. no one is insured thanks to this lousy law. charles: it's a huge albatross and the timing could be an october surprise. donald trump set to meet with evangelical leaders later in the week. most churchgoers hear about
politics from their preachers. maybe it should be legal. we'll discuss it next. of many medications. but it can also lead to tooth decay and bad breath. that's why there's biotene, available as an oral rinse, toothpaste, spray or gel. biotene can provide soothing relief and it helps keep your mouth healthy too. remember, while your medication is doing you good, a dry mouth isn't. biotene, for people who suffer from a dry mouth.
♪ >> donald trump will meet with evangelical voters in florida. religious voters are very strong source of support for the republican candidate. religion and politics often go hand and hand. confirms 64% of americans found clergy bring up political issues, one in ten have even heard pastors speak out against political even though it's against the rules. and we're talking about tax rules that donald trump wants to change. joining me now to discuss, kiersten and deacon. first and foremost, where we are in this country with respect to religion, i know that you are a believer of separation between church and state with regard to the johnson amendment. but more and more people believe that the church is the place where we should get these sort of messages.
where we should be held making the biggest decision of our lives and in many parts who's going to lead us in our country. >> charles, it's important to remember that the free exercise of religion is meant to free the church to play the role she's supposed to play in the civil society. she has a right to speak into the culture. the johnson amendment, unfortunately, its application has stepped on that free exercise of religion. trump has called for its repeal. i support its repeal. i think the church is supposed to be a moral voice. a prophetic voice, and it's time to free her up. the founders intended that. notice it wasn't freedom of worship. it's free exercise. and not only the church but christian associations and corporations. the irs didn't exist when the first amendment of the bill of rights was drafted. and it protects the free exercise of religion. we have allowed bloated bureaucracy called the internal revenue service to
become the arbiter of when the church can speak out on moral issues because the irs has determined that those moral issues are political. for example, the dignity of every human life. the church must speak to the dignity. the church has taken the lead in standing up against slavery, against eugenics. imagine if the johnson amendment had been applied then. so we need to get rid of the johnson amendment. donald trump is right. and we need to let the free exercise of religion be what the founders intended it to be in the american. charles: kiersten. >> with all due respect to the deacon, i'm a christian myself, and i thank you for what you do. speaking out of political issues is not what the johnson amendment refers to. it's about the resources o the church and the specific pastor speaking out about a specific candidate. so that's not what we're talking about and of course churches should be talking about these very important issues that they care about. but we already have a free exercise of religion and who
you're going to vote for is not a exercise of religion. that's a political activity. religious activities are about sharing the gospel, about sharing the community and that's what the church should be doing but we don't have to have the repeal of the amendment for the church to be able to exercise what it does best. >> i disagree. we do because the amendment is being interpreted by the irs. , for example -- >> then that's the case. we don't need to necessarily repeal the amendment. charles: well, that is the amendment then. >> you and i both know. we're both lawyers. the irs determines whether or not the church speaks out on a issue, it has the effect of endorsing a political party. well, what does that mean? when i speak out, for example, when i preach and teach about the dignity of every human life, that's the reason we care not only for the unborn child but for people in jail, people who are hungry. >> of course they're already doing that and they're not in jail. >> it's a chilling effect. i know this. i've been a lawyer for 37 years. we have christian groups who
are not getting their exemption because the internal revenue service doesn't like what they have to say -- charles: one quick -- >> about marriage and family. >> at the end of the day the longer the church has been associated with politics, they've been viewed negatively across the board, especially by millennials. charles: we're going to leave it there and now handing it to -- lou: good evening, everybody, i'm lou dobbs. the mainstream liberal media today doing its best to deflect the image that you see there on your screen. the father of the orlando terrorist sitting behind hillary clinton. there he is. and focusing public attention instead on donald trump, the national media is trying at least to do that. every liberal news outlet trying to ignore the father of orlando terrorist omar mateen as he sits squarely behind the democratic rally in kissimmee, florida last night.