tv Making Money With Charles Payne FOX Business June 20, 2017 6:00pm-7:01pm EDT
>> president trump is heading to iowa this week for a prime time speech. that's it for me tonight. charles payne and make money is next. gerri: good evening, i'm gerri willis in for charles payne. from capitol hill to the streets of belgium, what house speaker paul ryan had to say and didn't say about tax reform. in bruce else the belgium military shot a suspected terrorist. >> groundhog day. this is very reminiscent of last year, march, 2016.
potentially a couple at the airport. this was at the central station. one individual. the previous attack was claimed by isis so i suspect they will do the same with this one. >> as you look at this and you listen to what's going on here, do you expect us to have to deal with more of these in the short term. you don't want to say it's the new normal. you don't want to say it's the cost of living in a big city. or that we accept it as a new normal. we don't do that. the key is to understand that the methodology has shifted somewhat. you know, it's been years since we talked about how al qaeda would be looking to plan something again on the scale of 9/11. after 9/11 one of the things we were most worried about in
counter-terrorism were these small scale attacks. and it didn't materialize until after 9/11. but now we are seeing it. we are seeing it more and more certainly in the e.u. we are certainly seeing more and more of it. gerri: we are looking at live pictures in brussels. ramadan ends this weekend. are you just setting the stage here for more attacks to follow up in the coming days leading up to this weekend? >> in store the of a perverse way, attacks have picked up during ramadan. if you think about it could drive you crazy given the religious significance of ramadan. will there be more as at result of the ending of ramadan? it's hard to say. we are seeing the frequency of these things pick up in part because of the ease with which they are being done. this is different. this is the explosive attack
that is more typical than just getting a car and driving into people. the relative ease in terms of an individual or small group of individuals plotting something like this means they don't need the amount of resource, the amount of logistics. unfortunately it makes it more difficult to pick up. what don't you have. they don't have the communications and the chatter that it appears to the public gets used to hearing those sort of terms. again when people say and they ask this question all the time, how do we stop this from happening, they have unsatisfying answers that you are not going to stop every one of these attacks. gerri: switching to our other breaking news of the day. speaker paul ryan delivering a speech on tax reform, looking to
fix our nation's tax code once and for all. >> these reforms, these tax cuts, they need to be permanent. i'm here to tell you, we are going to get this done in 2017. [applause] gerri: this as white house economic advisor jerry cone said he's look for a tax reform bill in the first part of december. jay, great to have you with us. i'm just that kind of tax geek. i listened to every word of the speech and every word of your q and a. what occurs to me is it's well and fine for paul ryan to say he wants tax reform and he wants it now. but do you believe congress can deliver? >> i do. and i have to tell you, paul ryan was talking about the importance of restoring confidence in america and the
business community. and americans, especially those americans in those states that traditionally went blue, but went red this last time are looking for real results and looking for members of congress to deliver on their promises to reduce the cost of doing business, and tax reform is exactly the way to make that happen. gerri: ryan mentioned 1 million more americans are working in manufacturing than at the beginning of the decade, which is a number i hadn't heard before and speaks to the power of manufacturing. how important is the tax reform to your members. >> comprehensive tax reform that lowers the tax right and recognize we have a global economy, and enables investment and job creation is absolutely critical. because ultimately if manufacturers are -- if
manufacturers have to make decisions about where to do business in the world, they have to go to lower cost jurisdictions. we can compete on labor costs, that's a tired old argument. but we can't compete on the cost of taxes and the cost of regulatory burdens and the cost of infrastructure. >> the tax situation that's we have right now obviously. i want you to respond to this. there are critics that say this tax plan is to benefit the wealthy. your response? >> tax reform, especially business tax reform is designed to help those people who most need it. it's designed to create jobs and lift the quality of life for all americans, especially those who feel like they were left behind and respond so the overwhelmingly in this last election.
i'm excited about the prospects. i'm confident we can get this done and i'm looking forward to seeing the great things that can happen as a result. gerri: here with us now, tammy, i'll start with you. ryan saying we can't let this once in a generation moment pass us by. we have to go in for tax reform. do you believe they can meet this timeline, meet the deadline that cohn is setting up for them? tammy: they could if they want. paul ryan put out the better way plan almost a year ago. the democrats have a found it that they have had no hearings on the better way. let's compare him, he's sounding at his speech a lot like donald trump. but the fact is that donald trump grilts. we have yet to see that with paul ryan.
steve mnuchin the treasury secretary saying they are having good talks, meeting every week, moving forward. but we have got to see them doing something differently that paul ryan has not done for the generation he has been in office. he's saying we have the first time in a generation to be able to make a difference. but he had that kind of time before. now the challenge is to do more than talk or pander and actually do the hard work. gerri: here is what he said with scoring on that plan, wait would mean for the economy. 1.7 million more jobs. 8% hike in wages, and 9% growth in the economy. what do you make of that. is that just happy talk or is that real? >> it's largely real. i think there is tremendous opportunity for businesses that we can't even imagine. the stock market is somewhat
begging the potential of the tax reform into what we have seen, which has been tremendous. as a business owner i own many companies. having the certainty of knowing the corporate tax is going to be lower. it motivates you. you will want to invest it back in growth. there is no question that that would happen across the board. so i do think that overall, why isn't the specifics of what he's saying is debatable. but the large-scale underlying argument is absolutely true. gerri: if you are talking to the owners of these manufacturing companies all the time, so many of these companies are small businesses, and 8 out of 10 of these businesses file as individuals. lowering small business and individual tax rates could mean more hiring in the economy. small business the engine of economic growth.
give me facts and figures where this will take us if it's going to become law. >> it's a tremendous number. small businesses in this country that will benefit from tax reduction or tax reform. what's being discussed right now is kind of a third way from the way we have done things in the past in creating a business tax. something that would be applied almost the same between corporations and individual rate payers who are making business income. i think that's exactly the right way to go. as far as results. you have got trillions of dollars stuck overseas right now. you have got billions of dollars taken up by uncle sam in a way that's not productive for the economy. we are turning that money to businesses to create jobs for investors. it's exactly the right thing to do. gerri: i want to get to what
paul ryan didn't say. there were a few things he didn't mention if you were listening closely. that border adjustment tax the republicans were so keen on, president trump not mentioned. and how do fill those gaps from lower savings as at result of the healthcare repeal plan. jamie, i'll come to you. lots of questions there. republicans i thought had it baked in, not so, possibly. he seems to be wanting to set up something that appears to be different
tammy: we cannot dismiss how far he's willing to go to hurt a trump agenda. >> i didn't hair that all day. >> we let you out of that last part of the discussion. what do you make of the fact that donald trump's name didn't come up in the speech. what is it you didn't hear that you wish he had talked about?
>> i think the border tax, there is no question. it would have been interesting to see his position. i think he stayed away from donald trump for a good reason perhaps from a political perspective. he wanted to keep the spotlight on himself. this tax, this border adjustment tax will be an interesting debate. i personally am against it. it hurt so many businesses. it will be a tax on consumers. i think from a business standpoint you are talking about raising prices across the board which isn't good for business and it's not good for consumers. that's why he stayed away from it. gerri: possibly. who knew taxes could be so much fun. the pressure is on for ought gop to repeal and replace obamacare. can the republicans get it done? stay with us. [vo] when it comes to investing, looking from a fresh perspective can make all the difference.
it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. to f...nerve pain shoots and burns its way into your day... ...i hear you. when that pain makes simple errands simply unbearable...
...i hear you. i hear you because my dad struggled with this pain. make sure your doctor hears you too. so folks, don't wait. step on up. and talk to your doctor. because you have places to go... ...and people who can't wait for you to get there. if you have diabetes and burning, shooting pain in your feet or hands... step on up and talk to your doctor today.
gerri: we have breaking news. a train derailed in boulder, colorado. local police say hazardous material crews are on the way and they are asking people to avoid area. no injuries have been reported. trouble in boulder. we'll follow up on that story. but now i want to tell you about senate majority leader mitch mckoonmc -- mcconnell will relee a discussion bill. democrats are doing whatever they can to delay republican senators from holding a vote on the bill before the july recess. we have the -- there is a lot
going on with healthcare. the cbo is going to score this bill next week. we'll have a vote as early as next week. what do you make of this? can they do it? >> i think they can do it. you have nine legislative days. the reality is let's look at what obamacare is doing to the american people. it increased costs, decreased choice and increased bureaucratic red tape. while the democrats are pretending they wanted to work with republicans on this, it would have never worked to repeal obamacare. gerri: the democrats are doing everything they can, they are pulling out all the stopped. they have a two-hour rule where they are making sure the republicans can't told committee meetings during this period because they say they don't want obamacare repeal and replace to come up.
my mom used to call that down low and on ar o nerkslow and on. >> republicans have an opportunity to make this right. healthcare can be provided to people who night and accessible to people. but get rid of the bad parts. the opportunity here is to make sure that you stabilize the prices for younger people and make sure the people can save for healthcare. and ultimately keep those consumer protections so the 23 million americans who need this health insurance as president trump said last week, they need a kind and generous opportunity. my concern isn't about the democrats, they will vote know. it's -- threat vote no.
it's about republican senators like rand paul. gerri: last week chuck schumer said i want to sit down and talk to you about this. the republicans didn't take him up on that. was that a mistake in the wake of the shooting? should they have said this will be a real conversation on this? >> unfortunately, no. i don't think he's serious about k07ing to the table to get rid of obamacare. other democrats, i don't think they are serious about it. >> there are lots of consumer protections in obamacare that need to be replicated in a bill that would come from republicans. that can be done. you can take away the boon to
insurers, use the senate bill to make market-based incentives. while keeping the patient production. even with the house bill if they eliminate the move to insurers. >> we have 4 counties out there, they will have no options whatsoever. and tomorrow a big federal deadline for insurers to sign up. we have lots more coming. well, the department of justice taking a big step in fighting crime, choosing to help 12 cities suffering a surge in violence. you will want to hear which is are getting helped. you do all this research on a perfect car, then smash it into a tree. your insurance company raises your rates... maybe you should've done more research on them. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. liberty mutual insurance. welcome to holiday inn!
whatever it takes, wherever i have to go...i'm beating this. breast cancer treatment is continuing to evolve. ctca is definitely on the cusp of those changes. we really focus on taking the time with each individual patient so they can choose the treatment appropriate for them. i empower women with choices. it's not just picking a surgeon. it's picking the care team, and feeling secure where you are. visit cancercenter.com/breast appointments available now.
hazardous materials crews are on the way. they are asking people to avoid the area. no injuries have been reported. in the meantime, the department of justice has chosen 12 cities to help in the fight against crime. attorney general jeff sessions announced a list of cities earlier today as they are as follows, birmingham, indiana, indianapolis, indiana, memphis, tennessee, baton rouge, buffalo, new york, cincinnati, joe ohio, kansas city, missouri, and springfield illinois. joining me is the louisiana attorney general. the trump administration is making violent crime a real evident here. they are putting everything behind it. is it that important? >> i think it is.
you literally have people dying in places across the country. what truck me about this list. cities i would expect to see you on there like chicago. that happens to being a sanctuary city. a lot of these cities because they are sanctuary cities, they disqualified themselves from participating in this. gere require' not l.a. or new york. but i'm sure they are thrilled to get the money. why do you think they were chose be to be in this program. >> the president has taken a proactive approach that will impact this country the next few years, the spike in violent crime. the cities that are seeing the beginning of violent crime
starting to emerge, unlike cities like chicago and northerly and others in which violent crime is an epidemic proportion. they are trying to put together a beta test to see what works and doesn't work. so quite frankly some of those cities don't welcome the department of justice proactive law enforcement. gerri: i was doing some research. i spent many years in cincinnati. what is behind this rise in violent crime? what is causing it in your view? >> what contribute to it is this black lives matter narrative. the idea that terrible racist cops are running after black men
and shooting them in the street. so the kopts unfortunately have been taking a step back. if that happens, criminals are taking a step forward. i applaud the administration tore doing this. and i would like to see that in new york city which is going in the other direction. gerri: you can tell. jeff, do you agree that's true, that black lives matter, is it having a chilling effect on the nation's police force? >> i do believe the last 8 years it has not been a rule of law, and picking and choosing which laws you want to enforce and not enforce 36enforce. one of the other things you see, you look at cities hat even gang in sanctuary city policies. you see violent crime grew
exponentially. in addition you see other cities like the city of new orleans, put on under the obama administration. that's a problematic situation that's causing that city's problem in an evident to get some sort of control over the violent crime. gerri: anything to prevent that violent crime. coming up, president trump addressing the i am great lakes you with the nation's top tech ceos. horseheadswivellychair.com
do you have things you want to do before you retire? oh yeah sure... ok, like what? but i thought we were supposed to be talking about investing for retirement? we're absolutely doing that. but there's no law you can't make the most of today. what do you want to do? i'd really like to run with the bulls. wow. yea. hope you're fast. i am. get a portfolio that works for you now and as your needs change. investment management services from td ameritrade. gerri: if you want watching money on fox business, you missed president trump in the tech world. >> we are working diligently with everybody, including congress on immigration so you can get the people you want in your companies and it's been a tremendous problem that you have had over the past long period of time. so we are working hard on that
and we'll be able to solve that problem. gerri: get the employees you want. then candidate trump was an outspoken candidate of legal and illegal immigration. is president trump softening his stance? nick, is this a change in policy direction? >> i don't think it's a change in policy direction. i think president trump wants to make sure good people that want to come to the united states have got it easy and the bad people that want to come to the united states can never come. that makes a lot of sense. i don't see any deviation from that up until this point. >> the idea of how do you get to where you want to be and trump's style in terms of do this. the tech titans that come in are very persuasive. do you think he will help them
get the employees they need? tammy: i think so. this is a man trying to do what is best for the united states. when you have individuals coming in from outside the country, american employees have to train them to do their job for less money. americans are concerned about that. we have a record number of mire cans off the work role. until we see a more dramatic change in employment, this will be a genuine concern. but it's about education in this country. we have enough people who work in these kinds of jobs. the right kind of education forthright kind of jobs. gerri: madison i look at this and see how pressure is being applied to the president. they want to hire the cheaper workers. >> they have a common interest. that's comprehensive immigration reform. this is something time and time again the president has talked
about. but know matter how much pressure they apply to him he cannot accomplish this on his own. people should call their senators and representatives and encourage them they want to see this get done. gerri: the daca program has gotten so much attention and the president has made noitses like maybe do want to be more inclusive with children. >> i think president trump would be ill-advised to go that route. i think what president obama needs to do is exercise tough love. we need to make sure the message is clearly unambiguously heard if you try to come to the united states illegally, you are not welcome. gerri: tammy, it's jobs, jobs,
jobs, right? tammy: jobs, the wall, the economy in general, the obamacare repeal, taxes and jobs. these are the reasons he got elected. at the same time you are looking at a man who has a responsibility to follow through on his own promises. but those promises are also beneficial for the country. but he also wants something from the tech titans. he wants them in to help make things go smoothly. gerri: when they were sitting there talking, the funny thing about it was how much sucking up there was by the ceos saying you are doing such a lovely job and we love you. tammy: the mood with technology companies trite now is not going well. we are looking at tech companies as a problem.
gerri: uber reversing course and allowing drivers to collect tips. we're on to you, diabetes. time's up, insufficient prenatal care. and administrative paperwork... your days of drowning people are numbered. same goes for you, budget overruns. and rising costs, wipe that smile off your face. we're coming for you, too. for those who won't rest until the world is healthier, neither will we. optum. how well gets done.
will you be ready when the moment turns romantic? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. gerri: not a great day for your 4 oh 1k. they were weighed down by collapsing oil prices. oil is in a bear market, and leading the rest of the stocks lower. what's causing this? >> i think it many a glut it appears there is a glut of oil.
i think investors and traders were hoping for a drawdown and they are not seeing it. i think also you are probably seeing what is the resurgence of fracking in the united states which for those who are proponents of it, it's a good thing because there are opportunities to make money. so those factors are affecting oil and could be for some time. gerri: we are still right on top of market highs here. two sectors did well today, that was healthcare and utilities. healthcare right ahead of this bill coming out of the senate which is interesting. fedex and adobe had great earnings reports. what does it tell you about the broader market? >> i think with fedex it says really good things. because this is not just the united states, by the many globally. they are seeing continued growth, and especially in
e-commerce and areas that we know there is growth. but it confirmed a lot of things. they are seeing it throughout next year which is phenomenal. and they are pretty good predictors. they are an indicator of things to come. on the tech side, i think what you are seeing is just the continued growth in digital media. digital advertising, digital growth, adobe. you saw great earnings again. and i think that's going to continue. and it shows that businesses are investing be individuals are investing in terms of their personal businesses. all good signs for the economy. it's all real positive in terms of the economy in the future. gerri: fedex announced they will charge more at christmastime for
overnight deliveries. oh, no, that's ups. russia ramping up a potentially deadly game of chicken with the u.s. over a battle zone half a world away. general jack keane there join me to break it down coming up. ♪ here comes the fun with sea-doo starting at just $5,299 and up to $500 rebate visit sea-doo.com today looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that
and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance. call for a free quote today. liberty stands with you™ liberty mutual insurance. gerri: russian-american tensions testing new highs after an armed russian fighter jet buzzed a u.s. aircraft one day after russian officials warned the u.s. that any u.s. jet flying west of the euphrates river would be considered a military target. a u.s. military jet shot down an
iranian drone flying over the area. how dangerous is the environment become and tell me what you make of these two events. >> the russians aren't much of an issue here. the iranians run the war in syria. their generals are on the ground. it's the iranians who motivated the russians to conduct the military intervention in 2015 and helped prop up the assad regime. assad is going nowhere indefinitely. the russians have a strategic asset in that air base in the middle east. they feel good about the actions they have taken. the russians are not going to shoot at a u.s. airplane was we would destroy that air base with all their airplanes on it. this buzzing business you are talking about, that's just harassment.
our best case is just ignore it. gerri: the question about that is what fit went awry. -- what if it went awry. what if it goes wrong? it could be a disaster, couldn't it? >> that's what they want us to believe. certainly there is potential there, but it's a side issue. the real issue in syria is the iranians. the iranians ordered the ground attack against u.s.-led coalition two days ago and ordered the syrian air force to conduct the strike against the coalition that led to the downing of that syrian airplane. iranians do not want us to occupy eastern syria and the united states have that kind of influence. so they are pushing against united states-led forces and that's what this drone was all about. this is the second time we have
shot down an iranian drone in two months. the iranians are dead serious about conducting ground operations against u.s.-led coalition forces. that's the issue here. gerri: i want to take you half a word away to a flash point for us. north korea, what should wee be doing about north korea. >> we have got to stop our youngsters from going in there. we don't have a total travel ban on north korea. we have a thing called restriction. but we have got to a travel ban in place so they don't keep taking hostages on us as bargaining chips. second thing we should try to get our other three youngers out of there. north koreans used them as bargaining chips in the past. bill clinton did it one time. governor richardson did it a couple times. let's get those youngsters out of there.
then the third thing is we have to get tough here. i don't think the chinese are going to help us. gerri: the president said he's relying on the chinese to help. >> i know he is. but i don't believe it. i think they are game us. i think we would have seen something by now. i don't have access to top secret information like my friend do, but we would be seeing something and we are not seeing much of anything. i'm sure our folks in the pentagon and national security council are putting together a comprehensive strategy to go after north korea. they may have to sanction china here. we are on a collision course with north korea and on a collision course with china also. gerri: where is the most -- the diceyest part of the world right now. where should we have our attention now? >> russia gives us great concern.
they are not going to shoot u.s. airplanes down in syria. they are trampling on our interests and those of our allies. iran is together very same thing. but we have a president now who is pushing back. what he did in the middle east with those 55 heads of state at the summit. he called out and said the strategic threat in this region is iran and we are going to stand against it and we are going to stand against islamic extremism. in terms of conventional competition, the chinese and russians present long-term threats to us. gerri: general keane, always great talking to you. democrats and republicans breaking the bank on the georgia special election. polls are set to close in just a few minutes. we'll have the latest details.
hey, i'm the internet! ♪ i know a bunch of people who would love that. the internet loves what you're doing... ...so build a better website in under an hour with... ...gocentral from godaddy. the internet is waiting. start for free today at godaddy. welcome to holiday inn! ♪ ♪ whether for big meetings or little getaways, there are always smiles ahead at holiday inn. . gerri: polls are closing in
just minutes in georgia for that special election we've been talking about it all day. republican karen handel facing off against democrat jon ossoff in officially the most expensive house race in u.s. history. nearly $55 million already spent as both parties fear a loss tonight will cost them much more tomorrow and in 2018. joining me now deroy murdock and shelby holliday. i looked at the numbers, the average congressional race, $1.3 million if you were the winner. this is so outside what normally happens. will money make the difference? >> this is the kind of spending you see in u.s. senate races, in texas and illinois. trish: amazing. >> in june, and a special election. >> remarkable. gerri: crazy. >> the stakes are high for republicans. if karen handel wins she'll be reliable in the house. if ossoff wins, moderate
republicans will dive under desks and get harder to get president trump's agenda passed. if you want to see the agenda passed, go to karen handel. three minutes, get in line. gerri: breaking right now. shelby to you. when you look into this, who has the edge do you think? we see the polls say one thing, but do you think either of the candidates can make a difference? >> i think karen handels hat edge, and i'll say this, today it rained and i've been getting messages from democrats and republicans, i was down there last week, democrats are nervous, they say the rain didn't help them. and karen handel has the edge because this is a red district, held by republicans for more than three decades. she does have to deal with donald trump's popularity or unpopularity, however you want to say it and she is tiptoeing a fine line. i want say the base of support she has, if it comes together, if they turn out to the polls she has the upper hand. jon ossoff, 30-year-old political novice, no record. it's hard to tell.
gerri: 1976. 1976 was the last time a democrat was elected in that 6th district. that's a long time ago. >> when jimmy carter was elected. gerri: this would be a huge victory, they're sick of losing, that's the cherry on top. gerri: sean spicer was asked is this a referendum on donald trump and the administration. spicer ducked the question. that is what's going on, right? >> if jon ossoff wins, the media will turn it into a memorandum on donald trump and take big skillets and pound the republicans over the heads about this for weeks and weeks to come. gerri: when i was talking to voters, they did acknowledge they are not worried about local in this election, all about washington. whether you are republican or democrat, that's what you're looking at. gerri: i suspect that's where ossoff came from. somehow he was able to draw a
lot of money. he said make donald trump angry. >> he's backed away from it. gerri: we gotta go. great show. thanks for joining me. lou dobbs is coming up next on the fox business with more on this race, you want to hear all about it.. trish: good evening. i'm trish regan in for lou dobbs who is on vacation this evening. it's 7:00, and most polls are now closed in georgia's 6th congressional district where voters are deciding the most expensive campaign in history. campaign spending want to off $55 million. vacated by health and human services secretary tom price, for democrats, a win in georgia 6th would give the party first major victory of the trump era. for republicans a chance to build momentum going into the 20