tv Making Money With Charles Payne FOX Business April 24, 2017 6:00pm-7:01pm EDT
prime time lineup. be sure to tune in. "tucker carlson" at 8:00 p.m. and "the five" at:00 p.m. charles: the first round of the presidential elections sparked a market rally. word the white house is still focused on a 15% corporate tax rate. the "wall street journal" reporting president trump ordered aides to accelerate a corporate tax plan to cut the tax rates to 15%, and deficits are not a priority.
boyd, last week we saw hundred shin, mulvaney, cohn all on the same sheet. they said forget about the cb storks scoring and forget about debts and deficits. if we do this right we'll generate an extra $2 trillion in the economy and let's get the ball rolling. >> it will be a tough sell to a lot of consequences to say we have to make sure we'll pay for this thing and not just add to the deficit. i think the biggest part of i it is selling this this to the american people that this is not about corporate taxes but the benefits to hard-working americans that will benefit from lower prices on goods and services and they can get a better return for their retirement.
they have to have a messaging strategy as robust as as the t strategy pgram they are trying to put forward. charles: it will be called trickle down economics and the rich getting richer at the expense of the little guy. >> the only way to kickstart this economy is tax reform. the democrats are not interested in tax reform and putting people back to work. they are interested in winning back the house in 2018 and making trump a one-term president. what i would do is make sure you take care of low-income earners on the individual side and close the state and local loophole on the individual side. that way you can't say this only for millionaires and
billionaires, by the many for hard-working americans. charles: you believe it can be done simultaneously small businesses and corporate. >> you have to do corporate and individual and you have to make it one big package and put it through as a jobs bill that will help put money back in america's pockets. charles: brian, i felt like 15% for small businesses via the individual tax code. i thk you can go as high as 25% for corporations. and you don't have to do if gimmicks like the border adjustment tax. steve mnuchin is talking about $10 billion coming back via refate yaition. >> i don't think it will be revenue neutral. on the campaign trail he said
we'll have big tax cuts and wheel pay down the debt and nobody believed it. he says i'm so kay with this because it will grow the economy. they say we know it doesn't have to be revenue neutral. let's cut taxes and get the economy going. there is clarity here. charles: i'm a supply side per myself. so i think we might all agree it doesn't have to be revenue knew montreal. but there is a difference between being revenue neutral and assuming $15 trillion over 10 years. >> we are in a swamp known as washington, d.c., and it almost has to be revenue neutral because the democrats are in no way, shape and form going to giveonaltrump a big legislative achievement he can carry into the mid-term and win
the election in 2020. donald trump is trying to do the right thing by the american people. charles: i don't know that donald trump is concerned about democrats giving him a legislative victory as much as republicans. people may see $2 trillion as a bridge too far. >> $2 trillion is a very big number. you can do real damage with that. i think it will require the administration to make sure they are communicating and connecting with the members of congress as well. the vat tax is dead on arrival in the senate. so it will require a little cajoling and a lot of selling. this is good for the american people and the little guy. charles: how do you do that? give me an anecdote.
you are in a bar and someone says to you i don't buy this. and you say let me show how it will benefit you. >> we have a tough alcohol policy here in utah. charles: cold root beer. >> this is how i would talk about it. you have to look at what that does for the average american person. say is igoing to impact what you are paying at the pump. it will affect what you are paying at the grocery store because you will have a reduction in the cost of goods and services. this is good for the peesh fan for hard -- this is good for the poor and for hard-working americans who are trying to save for a rainy day and get ready for retirement. finally if these companies have resources they will grow jobs. and that will be good for you,
good for your neighbors, and good for the country. >> could it be biting off too much? is it too ambitious? there has been talk frps from an economic analytical points of view were smaller bites that are achievable and build on each other for some form of momentum. >> you go back to the campaign and look what he was talking about. he was saying fundamental tax that's not going to happen here. the way you get it done is the way george bush got it done. it will sun set after 10 years. trump will have to sell this as a temporary tax cut. he will say once you see the growth -- >> if you can get democratic buy-in on the corporate side, you can generate long-term growth and make it permanent. the key is to have the long-term investment. but we know the democrats will never go along with it.
so if it will sunset after 10 years it has to be more aggressive. charles: more aggressive and 15% corporate tax? >> maybe you go to 20% then close loopholes on the individual sides. charles, we know what the sequence is, close loopholes, nor rates. get rid of the inefficiencies and increase incentives. charles: some of these state deductions, that right there i think is goiprobably scare off a lot of democrats from wealthy states like new york and new jersey and will scare off a lot of republicans. but getting back to the issue of getting the republicans on board, we are talking about democrats, they have been obstructionist from day one. it's hard to believe, don't buy into any sort of tax plan unless it's sacrificing obamacare
repeal. how do we get all the republicans on the same page, understanding that this will add to the debt from a cbo static scoring perspective? >> it does a big bite, and a throng chew. i'm not sure they can do that in 2017. i think a lot of this will splash over into early 2018. i don't see a path where you can get all the republicans on board. i think you can close some of those loopholes. but they have to be careful. because it starts looking like crony capitalism really fast. while the president's supporters have stuck with him. but the more it looks like this is about the big guys, and not the little guys, the administration has a problem. charles: ford, you are the one who knows how to put these
things together. forget being the democrats on the political side, i think this will be aimed at republicans not hurting themselves. going into the weekend and listening to paul ryan saturday, they don't seem to be on the same page. >> i don't think they are on the same page. i think to our point you have got to keep all the republicans on board which means you have to make it as defend city neutral as possible. donald trump is a jobs president. if a jobs president cannot get his jobs bill through, that doesn't square very well with the mire can people. what congress has to understand, their electoral livelihood is on the line if they don't get that through. charles: you don't want to miss the all-new prime-time lineup. it starts tonight. talker colorado and starts at 8:00 p.m. followed by "the five"
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wow, you talk about spicing things up here. >> i don't think it will work but it of the fastinating that this is what he has chosen to do. we look at we know the trump administration we often see competing actions air their arguments in the media. we saw attorney general jeff sessions and president trump saying we are framing this as democrat failing to protect our country. then we have someone like reince priebus saying i think we'll get something that's somewhat satisfactory to the president out of this resolution. democrats for their part are going to love it if republicans shut down the government.
it's the opportunity for them to rehash he tired cliche'. i don't think it's going to work. i think the map is too different for him but it's interesting to see how it plays out. charles: sean spicer caught some of it today. >> but he also -- >> to pay for the wall, now we are having a discussion that the government might shut down over the wall. >> we feel confident the government not going to shut down. the government has been clear in the past about the fact that this is not a new thing, in order to get the ball rolling on border security and at wall, he was going to have to use the current appropriations process but he would have to make sure
that promise would be kept. charles: it is a. public relations pickle. >> they have had no best friend in the media. you could write a college paper on 9 media bias this exposes. when the republicans said we are not going to fund your obamacare the press said the republicans shut down the government. now if the democrats say we are not going to fund your campaign promise, they will say the republicans shut down the government again. the on way i see them getting a win before this week is up, if they can get democrats to agree to more drones and things to protect the country. to get the funding from mexico,
there is lots of ways to do that. you could pull some of the aid, the tons of military and economic aid we send to mexico. there are lots of ways to do that. charles: heard there are some security measures on the table, it changes the pendulum to chris' point and kicking this continuing resolution down the road. the question is, would they push it down a month or so or push it all the way to september or later? >> in all likelihood we'll see a shorter period they push it down to. i think we'll see a few weeks to a month. and i think what chris is talking about is what reince priebus alluded to on the sunday shows. we'll probably get something somewhat satisfactory. it's just reinforcements at the border. it's something democrats will say we'll come to the table on
this. charles: i did not think that the government shutting down last time was devastating. i thought the mainstream media piling on at this particular point as the president enters his second 100 days could be tough for the administration. president trump entering the week with a whirlwind of activity including an executive order signing spree. where was he ranked amongst his peers? i joined the army in july of '98. i did active duty 11 years. and two in the reserves. our 18 year old was in an accident. when i call usaa it was that voice asking me, "is your daughter ok?" that's where i felt relief. it actually helped to know that somebody else cared and wanted make sure that i was okay.
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this has many wondering. president trump set to sign a series of executive orders. but where will he rank with respect to other presidents after 100 days. joining me to discuss, ken blackwell and julian me melcher. by the end of the week, the game will play out through the mainstream media for a long time over how effective donald trump has been so far. >> part of it is managing expectations. expectations were taken to a new letter when he in his gettysburg address set an aggressive agenda. now he's having to dial back. but the reality is by any measure, this president has had a spectacular 100 days.
if you think about the fact he's gone in and broken up the regulatory knot holding back expansive growth in our economy and production. if you look at the signal he sent to capital markets in terms of the prospects of meaningful tax reform. you kn that capital follows the path of least resistance and greatest opportunity. he's creating an opportunity society right here in our states. he's also dealing with unan is paid the occurrences, whether it be north korea, syria, afghanistan. his number one priority has been to make america not only grow and prosperous and produce jobs. it's to keep us safe. and that is what he is doing. and he sent a global signal in just 100 days that we are back and we are strong and we are determined. charles: there is no doubt on the military side president
trump stepped up to the plate. when you consider the negotiations with china and north korea. maybe that changed some things with regard to trade policy. some are saying the legislative side, it goes back to the healthcare debacle. that threw the entire timeline off a little bit here. where would president trump stand in your mind, particularly in the last 50 years. >> i think what we are seeing is he's picking up on the obama legacy of being very a but i think what he has been far less successful at is governance. where you have to build a consensus, compromise and get your party behind things. the healthcare bill was the most notable failure. when he can ask unilaterally
he's effective but when he has to work with others he's not done a great job. charles: a lot of these executive orders have been put in place to unwind things put in place by obama in the late every days of his presidency where he laid it on pretty thick. but where do you see now? i think getting neil gorsuch through and on the supreme court probably is the biggest feather in his cam and reminding the world we are no pushovers. where do we go from here? >> we give perspective to the challenge of healthcare reform. it's 18 months for bill clinton and newt gingrich to crash the welfare reform nut, and they got it done. to think that you are going to take a problem that's even more complex. >> the gop has been talking for
the last 7 years about healthcare reform. >> can i finish my presentation? >> they haven't been able to do it. >> if you want to weaponize the whole legislative process, this president. >> that's democracy. >> by the end of this year, we in fact will have a plan to right the wrong-headed notion of obamacare. and that what else we have to do. and i think we see now the congress, the leadership, and the president working to get on the same page, and they will deliver and they will deliver that reform shorter and in a shorter amount of time than it took them in the 90s to do welfare reform. charles: i will agree we were spoiled out the gate fast when our expectations were high. it's still less than 100 days. a pop plift wave rocks france
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off against a centrist candidate emmanuel macron. joining me now, brian castle, nel gardner and ford oconnel is back. i thought it was fascinating, i don't know that many people know that la pen won the two youngest age categories in the general election, and overwhelmingly won among working class. >> yeah, without a doubt. la pen did have strong appeal to working class voters and many younger voters, she faces a huge up hill struggle in terms of defeating emmanuel macron. in the second round, and macron is now the establishment candidate in france. some of the other defeated candidates endorsed macron, he described as a centrist seeker a typical champagne socialist
french leader. will pom the poll suggests m ay macron fo far in thely the over la pen. charles: on election night, macron is celebrated with a lavish dinner at a ritzy restaurant, oysters, champagne. and the leftist and france were appalled. again, to nile's point this is what they rejected when hollande. it is possible a wild card could be the communist candidate who had a lot in common with la pen in terms of rejection or reforms to nato, euro and other mayor establishment institutions. >> i think that he is spot on, champagne is a champagne socialist, interesting in france, we're in uncharted territory it is hard for
polsters to extrapolate. the party system has essentially been destroyed. the assumption that mainstream endorsement will translate to a landslide, i think that is there to be challenged, and possibly over turned. la pen. >> does face a huge uphill battle, this guy has never won a town council election, this is his first election, and i think he will come under incredible aim of scrutiny, people will see whether his policies add up. charles: part of that scrutiny will be his marriage to a woman who is a schoolteacher, some believe some form everywhere she does all of the thinking, and comes from a very wealthy family. >> you are right, he has a
very questionable marriage with an much older woman. this is going to come down to globalism, versus national implement look, i think that nationalism is on the rise in france, in the rest of europe, i'm not sure that the votes are if their la pen to get across the finish line, if she does win, get ready for brexit. in long-term standing power, eu in jeopardy, will say something else, something that is more interesting, when brian pointed out, this is first time since 1958 neither standard party candidate made it o to the run off, political elites are in danger . charles: i don't think that will be hard to get a last minute boost. maybe two weeks is not enough time, i think that image is out there. >> the image is out, but i think she made need something else like what happened before the first election, maybe there a terrorist attack. maybe some unforeseen
circumstance. if it does she would have a shot. i think she will lose, but there is always a chance as donald trump showed you can win. charles: nile? >> i think that without a shadow of a doubt, macron is the establishment candidate. he is the candidate who represents old guard in europe. even though he is a relatively young politician, it is striking in the first round 46 percent of french voters, opted for euroskeptic candidates. euro skepticism is strong in france, a big question is whether or not this elect will deliver a euroskeptic result, i doubt it because of the scale of odds in place, but i think long-term future for france is euro skepticism, evenly i think we'll see a french exit from the eu. charles: i agree. i think you are more than likely, what we're seeing is the beginning not the end of
la pen, but perhaps the beginning of something that manifests to a serious change later. i want to alert audience, she just stepped down about an hour ago. as head of national front leadership temporary move, i think, to try to expand her range. thank you very much. >> the major averaged rallies big time today, investors, tie die gifts the french erecession. lection. i'll try again, when we come back.
france, and ended with high hopes for massive corporate tax relief. there continue to be serious fundamental reasons for market to really, in -- rally in particular industrial sector, today illinois tool works a big winner in that sector. parker hannifin -- this stock on precipice of major break out, central inex has broken down, gone through the trend line, i think it is a lock to retest march 12 high, stocks in this group represent the heart beat of the economy. i think it is coming along much faster than it is getting credit for. as everyone focuses on policies and grading donald trump's first 100 days and things like that. i am waiting for it to break
out. other sector that you must take a look at, as for as grassroots and economic growth, materials could get a boost from earnings. after the bella will co-- alcoa rerted, missin t street, but ey beat on bottom line, they beat by 15 cents, coming into the year, management, aluminum said demand up. stock edging higher after being up 5% today, s&p materials index, also in cusp of a mayor break out. -- major break out, beyond earnings if street could model for massive corporate tax cuts, say 15%. that would spurt financial moves. i understand that tax cuts don't have to be tomorrow. take that pressure off. the economy is starting to
move, if you are waiting for special invitation to somehow get in this market, some kind of pullback, i think you are making a big mistake. here is what have you -- should have, regional banks, industrial, material, technology, time to make some money. coming up, too many millennials are missing the milestones of adulthood. what are they? go to cv payne and i'll tell you. there's a denture adhesive that holds strong until evening.
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charles: we have a millennial riot on the set right now, a new report out shows a lot of failing to reach adulthood, with 24%. that is getting married, working. is this indications of immaturity or sign of the economic times. here is join us. emily, ladies on set of beating me up. >> a am a millennial, i get hit a lot of time for hitting
millennials, i hit them when tysheen-- what it is fair. they are not completely rejecting things like marriage and children, they are delaying them. you can look to women entering workforce as a big factor. institutes 18 to ther 34, some kids are still in college. it is a tricky age group, overall millennials are living different lives from 1975, but it may not turn out to be different. charles: they are living different lives because they can. there was a mind set in the day, the '70s parents said you have to leave when you are 18, you have to figure it out. military, combine, college, whatever it is. the guys 35% cannot get it going. >> it blows my mind, when i
think about my father bought his own car in high school, paid his way through college. a lots of us did not do that i think that times have changed, emily is right, it is a tricky age group, higher end of millennials graduated in a recession. i do think that push backed some milestones, but younger millennials are graduating in a great job market, they have a very different mentality. charles: what about yolo. you only live once. that is not about not able to afford cldren, i think that darwin implement thism, it is about being selfish. >> i don't think so.
it is experience, travel makes them well rounded. i think higher education is purpose to bring up. we talk about men's failure on launch, they go to college, they are sitting in seminars, they are typica tip masculine. -- studies from last week taming that college cheating financial literacy courses are racist. with that, it is not shocking these college student are graduating and not having basic skills. charles: excuse me me for a minute, while i break out the world's smallest vie violin. there is an economic under tone, household formation is center piece for getting the
economy going. and all things that come with it. >> in terms of economics or impact, from this study, what was most alarming new trends are having on young men, women's wages, between 18-34 have outpaced what is happening with men's wages since 1975. that is because, for so much so many different reasons, men are discouraged in our education system. men don't want to go to college. they are so exhausted on our education system, once they get to college they may not be as motivated. i think that say huge problem. charles: a good thing, we talk about vocasion and education. i am happy they are starting to come back. the implications between household formation, drug use, and just sort of feeling that we just don't have as a nation that we had once before that
become back. ladies, thank you very much. >> now we're not playing north korea tensions are escalating, they are at new heights, the rogue regime threatening to strike u.s. again, this time carl vinson is en route, we'll be right back. ♪ say carl, we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh. and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $4.95 online equity trades and a satisfaction guarantee. if you don't like their answer, ask again at schwab. you may sometimes suffer from a dry mouth.
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rebecca, starting with you. the anxiety does not go away. it feel like it is being ratcheted up. >> we're seeing now is good cop/bad cop. it is extraordinary, u.s. we have our air and army forces in south korea. u.s. navy on the move in pacific. our missile defense and we said we're out of patience. enter china, calling for restraint, playing that state mans-like role, while in private they put pressure on kim jong-un to get back in the box. charles: nikki haley had that same assessment. >> i think it is a new day when you have china and the united states working together on a statement to condemn north korea. they put pressure on him, he feels it, that is why he is responding this way, it is a
different day. what we have said, united states is not looking for a fight, don't give us a reason to have one. charles: there are limitation to how far china can persuade north korea. >> they are the biggest benefactor to north korea. they are larg largest trading partner. and north korea receives a lot of food age, energy and oil, so there is influence. but north korea has made it a point of showing independents from shine. this is because of historical reasons, some is personality driven. they have decided that they are going to despite china call for restraint, previous to this over the years, they are looking at 6th nuclear test potentially tomorrow.
to marmark the 85 anniversary vi of korean people's army. charles: right. calling white house saying, we would prefer if you don't use force. that we're overlooking their man-made islands in the south pacific that have been militarized, and they have sold key components to these missiles that now world is afraid of? >> well good point. they have built and have operational bases made out of reefs. the trump will have to take on that down the road. but here is the catch with china for now, north korea is a liability for them, china would like to be a major world power, it is very much in their interest to get north korea under control. china cannot be the world power they want to be if they have a nuclear mad man on the
border. charles: the tinder box. uss michigan, just entered the port in south korea. all pieces are there, like a big board game of risk. anything could go wrong when you get like this. what will be worst case? china can't reel in kim jong-un, and he does detonate this test? >> there are concerns of mistakes, misperceptions could lead to a cris. when you have a leader like kim jong-un, who is isolated, not interacting with international leader. i don't believe that president xi jinping of china has ever met with him. that is real concern. misperceptions, mistakes, miscalculation on part of the
nok knoc north korean leader. charles: thank you very much. >> thank you. charles: at home if you for watching -- for watching, every night at 6 p.m. i appreciate your support, here is lou dobbs. lou: good evening, let's get the week underway. democrats tonight threatening to shut down the government rather than approve funding for president trump's border wall and a government spending bill. lawmakers have until friday night to pass funding legislation that would keep the government open. attorney general jeff sessions today made his case for the wall saying that if democrats blocked funds voters should blame the dims for the resulting government shut down. >> the system works that whenever the government is shut down, people blame the republicans. let me tel