tv Making Money With Charles Payne FOX Business December 29, 2016 6:00pm-7:01pm EST
we'll bring you the latest when it happens. the russians from reacting. they are closing the anglo-mayor candle school in moscow. i'm going to throw it to david asman who will bring you up to speed. david: good evening. i'm david asman in for charles payne. president-elect trump promised to make the economy great again an is touting eacand every economic milestone before he even takes office. he retweeted a headline that says "economists says trump brought hope." the jobs the companies trump negotiated with to hire americans seem to be coming home. while skeptics say this has nothing to do with trump, the executive president of one, he says differently.
>> i'm fairly certain there wouldn't be as much in the works without president-elect trump. he's fanning if the flames. he wants to get people motivated to invest and bring the jobs. oneweb will be bringing 5,000 new jobs. joining me scott brown and adam goodman. senator brown, does trump get the credit for all this? >> certainly for the most recent only in the with verizon but the other company and obviously carrier. he's setting a tone like the present administration where we'll have lower corporate tax rates and less regulation and repatriating offshore money. allowing companies to come back to the united states where they
will enjoy the rule of law. it's about setting that trend. i it's being a cheerleader but also setting policies. the government doesn't create jobs, but they can have an environment to create jobs. it's not easy to start a new compy. a fox poll, we just had a new fox poll showing 5% of americans think the economy will be better. only 34% say worse. he has engendered a positive attitude. >> it's a shift. people are feeling confident they will get raises. they are feeling more con if i comment from their 401ks. and as a result they are going out and spending. we saw that in the holiday sales numbers. the numbers western better than expected. >> it's true.
adam, again, when you start a business, my wife started a business, and it's very difficult to start a business. not only do you have all the lel problems, but you have to deal with regulations some of which it seems that they want to you fail. donald trump says he's going to turn that around. >> doesn't it feel good to be saying things like this for a change? we came from an economy where supposedly built on hope, creating a sense of hopelessness among the middle class as the rich got richer and they seemed to be left behind. i think this is tremendous news. inerms of entrepreneur anpeople are looking for a break. it seemed to a lot of ushat government is growing against business, is snrition small business not with us. you look no further than dodd train which is out to regulate without reason and punish without end.
we have a surging stock market and surging confidence. we have a belief in ourselves again coming back. that's good old american can dod-ness. david: you look at barack obama telling americans, you have got to get used to this slow growth we have. you have got to get used to meade october a i in terms of economic growth. janet yellen came out a couple weeks ago with her report and she was saying essentially 2% growth, we may have a slight uptick the next three or four years, but only a slight one. then donald trump is saying no, we are going to double our gdp which is trillions of dollars in increase in the things we produce. there is as huge change attitude.
>>t started with the apolo tour. e apologized for us being ericans and it didn't stop there. he's still creating a lot of messes for the incoming president-elect. when you are talking about the economy, i remember being in the senate and trying to bring in business to massachusetts and not having anyone to speak with in the obama administration who had anything to do with business. it's a different mentality. a community organizer versus a billionaire and billionaires in the cabinet who can look at a small mom and pop business and say we don't need to treat them the same as we treat a large corporation or the community banks and thrift organizations like we do larger institutions. this one side fits all approach whether it's obamacare or dodd-frank, we don't need to do
it that way. that's the difference, i think. david: the market is stalled now. it's not going over that 20k mark for the dow jones. i'm wondering if both economists and traders haven't caught on yet to the effect. we had this tremendous pop after the election, that's great. but then it got stalled. they are waiting to see what happens. i think they are unprepared for how optimistic people are and how that may turn the economy around. >> i think there is some truth to that. he was up a surprise candidate. everything about donald trump has been a huge surprise. i think there is also in addition to the light volume we have seen in the market, there is a sentiment of let's wait and se let's see what the policies will be. they make take a different form than what's expected and may make longer to implement than what we are count on.
we may see a bit of a pullback into january. david: i'm wondering if republicans understand how dramatic the change might be for the economy. how dramatic the effects of really solid deregulation really dramatic tax cuts could be in rms of eendering a boom in the economy. >> great question. the short answer is no. we had a dramatic political transformation in 2016. we now see the beginnings of a dramatic government transformation in 2017. but one transformation hasn't been given enough shrift which is economic transformation. we are about to see something we haven't seen in a long time. those who figured out the old ways and the old game are having a tough time catching up. but the new reality that something special is going none
this country is being felt in corporate board rooms and main street as well. david: president-elect trump just issued a statement in response to president obama's order for sanctions against russia. trump's statement says it's time for our country to move on to bigger and better things. nevertheless, in the interest of our country and its great people, i will meet with leaders of the intelligence community next week in order to be updated on the facts of this situation. we have a segment on this with security analysts coming right up.
issued against russia. he ejected 35 russian intel operatives from the u.s. they were supposedly diplomats. the president said these actions follow repeated public and private warnings we issued to the rsian government and are necessary and appropriate response to efforts to harm u.s. interests in violation of established international norms of behavior. a spokesman for vladimir putin says moscow will consider retaliatory measures in response to the sanctions. so expect u.s. diplomats to be kicked out of russia. john hart, we have this response from donald trump. he said we have to move on but i will meet with intel officials.
to me that is suggesting he may change theolicies once he comes into office. at dyou think? >> he may certainly review them. i think this was the right response by the wrong administration. ideally president obama should have handed this off to the incoming trump team. but president ob relieved by this action. it means he doesn't have to deal with this on day one. his response of course will be analyzed and people will judge whether he lessens or tightens these measures. democrats misplayed this. i think president obama emboldened putin and people like john podesta have played into putin's hands by giving him the attention he craved in suggesting we didn't have a free and fair election. david: where does donald trump take all this?
he doesn't telegraph all that much from the statement he just put out. >> he's obviously assembled a serious group of people when it comes to the nation's leadership, a lot of ex-generals. they know the dangers these countries pose including russia. of course donald trump will have to deal with this on day one. obama is trying to play catchup. the argument that what the russians have done has affected the fabric of our democracy, then you better do something. this started in 2012. the question becomes why when it comes to the spies we ejected and thr spy headquarters, why has obama aloud them to operate when we know they have been in the state department, the white house, the office of personnel management, obamacare, and now he's doing it a few days before the new year?
he wants this dumped in donald trump's lap. donald trump will either make it harsher or he will make adjustments. david: i had ambassador john bolton was on earlier today and he said he was surprised it was as light as it was if in fact this affected one of our elections which is a huge hacking policy on part of russia. if that happened, president obama should have come down harder on the russians. what do you think? >> with all due respect to ambassador bolton he's in for a big wake-up call and surprise when president-elect trump takes the oath of office. he will be much nicer to the russians. president obama did the right thing today. he went after the russians. he expelled 35 russian diplomats, intelligence agents.
david: if we knew they were agents before, and if we knew these facilities were essentially listening posts of the russian government, why didn't we shut them down before? >> because there is a thing called diplomatic immunity. people familiar with diplomatic intelligence operations, when they go abroad they open right under diplomatic immunity. i agree we should be harder on russia. it's rich and sad at the sam time to see the republicans are willing to support anyone, even putin, as long as they support putin. dave require many interesting you support john bolton. >> i think what he should have done is come down harder on russia many years ago. sow i think in some ways president obama is trying to play catchup with his action today.
and going forward, i think president-elect trump has to take a clear and tough stand whenever russia trie tri to interests fear with our election -- interfere with our election or any other that you wants to do in the future. >> even the liberals are afraid everyone going to the cabinet are hawks. these not officials who will play patty cake with the russians. it's one thing for president obama to go out saying i did do something. and i think what you will see with donald trump just like everything else, the opposite will occur. and people will be pleasantly surprised. david: we have captain chuck nash with us. captain nash, if in fact russia was interfering with our
election, that's cyber warfare. doesn't that call for a response tough every than what we saw today? >> i think the united states and a lot of people are trying to figure out what exactly is an act of the war? we know what it is when kinetic things are involved. we know what it is when you put mines off somebody's coast and mine their harbors. when you start interfering with elections, the united states has certainly never done that in south and central america. but what i'm saying is the russians start doing it here and they are doing tonight europe, one would have to think maybe this is being done quite a bit. if we are going to start slinging kinetic stuff just because somebody is playing around in cyberspace, you have got to think about this. the next thing is power grids start going down, water starts getting shut off and all of a sudden you are talking kinetic. david: we are all connected to the internet and the computer world.
>> the veterans have been treated very unfairly. i don't want to see veterans waiting in line for two weeks. sometimes they have a minor illness and it takes so long to see a doctor it turns out to be a major illness. david: donald trump is reportedly considering privatizing. opponents say that could give
veterans more control over their healthcare. could this be the key to turning things around? joining me is former senator scott brown and jesse jane duff. he talks about a public-private option. can you explain how not might work? >> right now you have the choice program that congress passed it's the biggest problem with doctors is the fact they are not getting reimbursed properly. they are slow in paying the doctors. a public-private partnership. when i spoke to the president-elect about this, i said can't you privatized it? i said we have certain hospitals doing a wonderful job who deal in prols threat i can care. depending on where you live, you can go next door and get that care. but some areas you have to drive
for miles and miles to get care. some of them are not as good as the others. there are so many different problems in the va to have the public-private partnership means outsourcing mental health issues to get the waiting lines down. the biggest issue in this whole thing is when you are taking a veteran out of the va and giving him to a private facility. that imloin is leaving the system. if you have so many people leaving the system, then the va will implode and fail. so you have got to strike a balance. >> would they be give and voucher that would allow them they wanted to take to it a va hospital they could, but if they decided they could be treated better at another private hospital, they cobble treated there? >> congress made opportunities for veterans with certain barometer to the go to a private doctor and it's not work.
they kinds of rushed it through. there are so many different solutions out there and veterans groups, the american legion and others who have sliewkss. you will need the blessing of congress, the president and the vets to get this done. it needs to be a thoughtful process. but you need to do it quickly because vets are dying. david: begunry sergeant duff what is your experience with va hospitals? >> they have the second largest budget next to d.o.d. and 350,000 employees. we are dealing with a management problem. in many of these va facilities they are not even hiring veterans. some of our upper-level management is approximately 13% form veteran. you can't tell me the navy, army
and air force haven't trained professionals who are used to staffing and managing medical care. why aren't they putting them into these va positions? veterans will have compassion for veterans. dave require's $167 billion a year it's a huge program. some people like their va hospitals. there are 1,200 outpatient clinics. if people decide to take their vouchers to the private hospitals, some of the good hospitals may suffer. i just want to shrink that bureaucracy that va has become. a lot of the $167 billion is wasted on bureaucrats, right? >> there is a lot of waste in government as we all know. they are like drunken sailors, you keep giving them the money and they will keep spending it.
but there are some angels working in the va hospital and we need to tell those success stories. bureaucrats, lifetimers, whatever want to call them. when a veterans walks into those facilities, necessity should be like they are walking into and trump five-star hotel. they should say how can we help you? it's a different penalty, a different way of doing things, and i think we can strike a balance. i think if you do it right you will have those hospitals so the veterans won't want to leave. if you reduce wait times and get them the care and konches they need right away. why would they leave? david: that's the wait should be. begunry sergeant we'll get back to you in our next segment. coming up. we note terrorists live in europe and here in the united states. but a new report showing terror
terrorists into u.s. from mexico. with millions celebrating in public places like times square, many worry another attack could be imminent. it could come from south of the boarder. captain nash. what about this spanish respect. >> it is from the agency of spanish defense department, they are pointing out is something that we've known for a long period of time, triple frontier. it is down between paraguay, argentina and brazil. there is a library of congress reported,ded in 2000 three that traces -- in 2003 that traces criminal activity and terrorist mix, a marriage of convenience back to 1999. david: gunnery sergeant there was a hezbollah hit in
argentina in 90s, a couple hundred people were killed. there have been incidents there, we worry in this flood of immigration from south of the boarder, the terrorists might hide some of their own in the mix, is it happening? >> let me add-on, that explosion in argentina was backed by iranian-backed hezbollah. they were never prosecuted. we were never able to round up those officials they were in cahoots with their at the time president. i am getting at, right now crossing the boarder we know they are getting fal false i.d. and presents themselves as mexican nationals, illegal immigration is really a considerable problem when you
realize being sponsored by hezbollah that goes right back to iran. david: captain nash, homeland security is important, donald trump announced he would marine general kelly in there to head up the homeland security. how is homeland security going to change under his guidance? >> well, he was the former commander of southcom, he had that area of responsibility of our nation's forward commander in that area, he understands the drug business. he understands what is going on with the smuggling, he knows as well as many other people, that isis is operating a camp right in the state of chihuahua in mexico, he understands that special interest aliens are being smuggled across the border because of the neck i nexis between the drug smugglers and terrorists, i think he is
rolling up his sleeves and there will be enforcement on that boarder. david: jay johnson is our current homeland security director, he is a nice guy, well meaning. but he is not a military guy. there has been historically in u.s. an aversion of mixing military in with homeland security, but is it not necessary to do that right now? >> absolutely, general kelly has been known to give advice to jay johnson, none was probably taken. he advised this administration we do have a problem with isis coming over the boarders, unless we want another disaster like in argentina or one like 9/11, we need to get very stringent. we have within homeland security misplaced immigration, green cards misplaced. those getting in the wrong hands will allow people to come here withy i.
>>y in nefarious mind sets. david: hows he going to change things? >> first. we have to realize, that radicals, militant islamists and people who go to mosques and eba andeobey the lous from country -- laws of this country all read from the same text it is what you want to put into it. i think he will name the threat, which militant islam. unless you deal with the core values and core roots of this you are just dealing with sytoms not with the disease. david: chuck nash, jesse jane duff good to see you both. >> thank you semper by. fi. >> coming up, it i it is 'ti
david: december is one of the busiest months for chair it charitable giving but a new report shows that very little actually get to the charity. >> whether a person is prompted by compassion or taxes, only give when you are ready, but as for how much goeso charity, not as much as you would hope, this now empty arizona office is typical of boiler rooms, where tell marketers raise money for
charities which sometimes give little or nothing of what you give. >> afundraising contract where 95% of money goes to the professional fundraising company. reporter: we examined california registry of charitable trusts, a listing of many national campaigns. in hundreds of cases, charities raised thousands but got little back, some lost money. two campaigns with covenant house for at risk youth raised 66,000 but the cost more than 209,000. in 2015, environmental defense fund ran 7 campaigns, two made nothing, four lost money, costing them thousands that year 24% of charities took homeless than 20 cents on the dollar, and 21%, all together. >> should -- over last 3 years, only 22% of all
charities met the standard, keeping 65%, and paying the fundraiser 35%. >> environmental defense funds said that campaigns that we referenced were designed to attract new supporters not raise funds, covenant house use a telemarketer on a pilot basis to concert current supporters to monthly donors,. but ended that program, budge bottom line, raising money second penceive. -- is ex ping expensive. david: william thank you so much. >> coming up, last minute gift buyers and on-line shoppers may help lift retail sales to their best holiday season in years. what does that mean to your investments? we'll discuss that coming up next. no matter how the markets change... at t. rowe price... our disciplined approach remains. global markets may be uncertain... but you can feel confident
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david: last minute shopers and a huge boost in on-line shopping may help retailers say their best season they have seen in years. joining us now, old friend david nelson. >> thank you. david: is this a big a boom retail boom as it suggests in some reports. >> a retail boom, it has been od all year it got better in november, and better in december, it will be better in 2017. david: what happened to death of brick and mortars. >> omnichannel, better leaders better merchants. you said, rocky balboa story at jc penny and toys "r" us.
david: not all retailers are benefiting. >> looking at a sears, that is a cadaver. the client sale every year it is a $9 stock that will lose $10 next year. we lefout azon, they are the juggernaut, i think most of the growth in the years, you know from here on out will be on-line. but, i am encouraged by what i saw. david: there are some brick 'mortars doing well, best buy and others, what have they done to turn their image. >> better marketing and better merchandising, for example jc penny got aressive with spanish-specific consumer media, telemundo, and univision, and latina magazine, widely distributed in salons for spanish-speaking customers, and bringing back salons in stores, disney partnership and sephora, they did 500 stores, and sephora
has as many customer in paris store as there are tourists to go to eiffel tower every year. penny a big bounce back, a real credit to mike. the new ceo. >> you know this is a season this 3 week period, around christmas, where many retailers get 40% of their income for the year. so, this could really turn around. the last quarter profits of some of the companies, meeting through the roof. >> i think -- i don't know about, that but i think there is one good thing about brick and mortar retail above on-line, when you return an item on-line, that generally lost revenue to the company, but you go to the store you spend more than you bridge in probably. you go home with more. david: you don't want to waste a trip to the store. >> here is one thing that i bon don't like, we have a
good year in cars. car that can suck away from retail. and also we have seen the incidents retailers are now soft targets. >> mall brawls. >> they could be aeriv terrorist target as well some people could be pushed away. david: that is an unknown that could really stop this in it track. >> we were in paris for faction week and we -- fashion week, we a the real drop off after the terrorist attacks in france, paris was softer during this fashion season, than before. we have seen issues at mall of america, and elsewhere, and the mall -- >> what about the nonterrorist mall brawls that are cropping up. >> irony is that cities that tend to lead the u.s. in murder rates and felonies tend to have higher levels of mall brawls. you have incidents and greater chicago area, greater philadelphia area. others, so it is important to
your discussion for law enforcement, the law sales tax revenue, that can really crush the public sector. pension plans and lead to layoffs of government employees. >> we mentioned how well company, retailers are doing in new york, new york has a wonderful police department, thank goodness a mayor who i don't think is on right track but the police deputy i department is still on the right track. >> it would seem that way in stanford, imcomfortable there but other parts of country it is -- commentary when we see incidents like this. david: chicago for example is really no surprise they have mall brawls. >> newark. >> i am not sure that mall brawls will hit retail that hard, but the you know idea of a terrort attack. a soft target, that is concerning. david: let's lot bury the lead, it is a grade lead, it
has been a wonderful seen for retailers -- season for retailers does it continue through the years? >> it does, everything said about trump election consumer confidence is now highest it has been in over 15 years, with consumer confidence people are more willing to spend both or planned purchases and unplanned. retail off to a good start and continue to ac accelerate. david: we just need lower taxes to spend more, that leads me to a tease, coming up steve forbes will join to us talk about taxes, trump and how much your taxes are going to go down. you don't want to miss that, that is coming up next.
forecasting a sweeping overhaul of tax code but could one obscure congressional committee stand in the way? so could they knock out any meaningful trump tax cuts? steve forbes here to discuss this. editor and chief of forbes magazine. i am wondering if this idea of a joints economic committee looking over with green eye shades, the trump tax plan heighmight ruin it. >> you have to shove them aside, they made some progress in recent years in get dynamic scoring, realizing when you reduce tax burdens it helped the economy not hurt it, they are a little bit on that. you have to figure out what will this economy moving in a big way, immediate way, do it, and then leave the eye shade peop, do the scoring,
but, don't let them -- >> i am glad to hear they have improved, they were the same economist that poopo'd reagan's tax cuts. >> they are slightly better but not what they should be. david: a scale of 1 to 10 maybe a 4. >> i give them a 6 for christmas season. david: the tax cut, ron rall, ronald reagan got them through himself. he believed that if it was your money given to you, if you could keep more of what you made, you would spend it wisely and invest it wisely. does donald trump have that same core convict? >> i hope so, the signs are he realizes the need to reduce tax rates, have you two big impacts, people keep more of what they are earning and reducing burd en on people who
want to do things, you enable people to have prospect of better jobs in the future, higher income more businesses more opportunity. you get two opportunities, you are also laying count doing for future prospe prosperity. first president to realize that after the 1920s john f. kennedy. after trying allnes -- these keynesian -- he went for radical tax cuts, and if trump does the same thing you will have the same impact you had with kennedy, with reagan, a booming economy that will live you a lot of capital. david: i am glad you used term radical. it is radical, and you need to. radical tax cutter, larry kudlow. he so far not on the trump team. people were hoping that he would be on what happen snd. ha?
>> i don't know. but having him onboard would be good. with onc council of economic advisers would be good because that is more of i think tank lethargy on good things if they get push saying this is go to be all right. just put the economic politics 2018 if we don't have a good booming economy, the republicans are going to get shellacked. that is bad not just for losing control of senate, and house, you go governorship. they set the tone for census of 2020 redrawingcongressal
districts if they lose those govern ships forget it. david: we heard that might hurt republicans if we don't get a tax cut in the first year, maybe first half of the year, you might have a slow economy. some people sa well, we have to delay tax cut first do changes with obamacare. but maybe business tax cut. >> politically you have to do both, you gets a bang from both. when you lower the tax rates across the board, this is what kennedy did, hdid more on personal side. he got some on the business side but not what he fully wanted. david: i pay 40% in federal tax, and you add it all up it over 50%, i want a cut in my income tax. >> yes, and you can design it in a way you gets immediate bangs li reducing that will gains tax -- capital gains tax you get immediate revenue. every time,. david: steve forbes, we have to leave it at that, i hope
that donald trump is listening, i hope we get those tax cuts, forbes on fox, saturday at 11 a.m. eastern on fox news channel, the star is here, great show everyone. hope you at home will join me every night this week, 6 p.m. we'll see you next time. tom: tonight, president obama slapping russia with new sanctions over their alleged interference in the election. mr. obama kicking out dozens of suspected spies and imposing banking restriction with just 3 weeks left before he leaves office. >> and president-elect trump promising better relations with israel, under his watch. >> we have to -- it set us back, we'll see what happens after january 20. tom: lieutenantcolonel ralph peters said that president obama has a disastrous approach to the middle east.