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tv   After the Bell  FOX Business  September 13, 2017 4:00pm-5:00pm EDT

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will get that. nicole: here we go. liz: when we say trifecta we mean it. it is a horse race won by the dow, s&p and nasdaq, looking at a record close for all three and my indians, melissa davis. >> record day on wall street, the dow closing at a brand-new high for the second day in a row. they just turned positive in the final moments of trading. anything to the green on those indexes would mean another record high. melissa: we have more on big market movers but here is what else we are covering during this busy hour. let's make a deal, the president hosting a bipartisan group of moderate lawmakers at the white house talking tax reform with
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more democrats in attendance than republicans was what he is vowing will be included in the plan and what won't. and he will be wining and dining chuck schumer and nancy pelosi. all part of his strategy. details and reaction from washington weighing in this hour, art laugher, and howard kurtz. a lot of good people. dave: dow driven higher by chevron, walt disney and verizon. let's go to nicole pedallides on the stock exchange. nicole: a record day if your 401(k)s and iras, dow jones industrial average finishing higher by the 7 points, record across the board, dow, nasdaq and s&p led by energy, let's
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look at apple, apple is the big story, stock is down 7 trading days, scooped up a lot of apple even though the doubled down today, big picture of the analysts very impressed with the latest developments in the iphone. we finally got it, a lot of anticipation, the iphone 10 is out and the 8 and the 8-plaps and improvements to the tv and watch. and look at mcdonald's which has been under pressure this week down 1.5% but the concern is how harvey and irma will hurt mcdonald's, closing over 2000 stores. like so many other businesses. we will see how they regroup. there was a cautionary note from analysts. game up $.67 at 157 even.
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dave: melissa. melissa: markets in record territory, we are not tired from all the winning just yet. s&p adding $2 trillion in market value since donald trump's election according to an analyst at s&p dow jones indices. jack how from barrenness -- jack, you don't think the tax-cut is priced into the market? is that what you said before the show? >> i i look at high tax companies in the s&p 500. they shot ahead after election day when people from corporate tax cut by coming, now they are giving back those gains and they are not banking on these tax cuts. chances are looking better, it is anecdotal but the president has not had a train wreck tweet
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in something like the weeks. >> commander killjoy of the chief of staff is imposing more, if the president can get focus republicans can too. try and top that. >> 2500, if you see some sort of tax reform or very good dinner tonight, feed them lobster and caviar, chocolate cake and the s&p above 2500 we can see support at those levels if we gets in tax reform from tonight's dinner. >> what i heard so far, and tax reform, first things they talked about was infrastructure. tied to it, bringing money back,
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getting back to that partnership in the infrastructure, well people will be paying a bit more, middle-class people, net net sound like a moderate package that might appeal to the middle. >> infrastructure is the easiest slamdunk out there. you can argue even if you have to borrow to do it you can argue more government spending, less government spending but the real argument is what value you are getting for the money, there's no better value than investing in american infrastructure. >> we are $20 trillion in debt, and on infrastructure spending, not this comes down to how we are going to pay for this, you know? >> overseas, 21/$2 trillion,
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thank you. >> doing whatever is necessary, donald trump reaching across the political aisle to push forward tax reform participating in a bipartisan meeting, blake berman live at the white house going on. >> the parade of democrats, continues on this day. three republican senators fast-forward this afternoon, and eight democrats and tonight you get the main course, the top democrats on the hill and to have dinner with the president to talk tax reform, one thing they said they would not see happen if they were to join on this is have tax breaks for the wealthy, tax breaks for the 1%,
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donald trump seemed to view that is a possibility when he made comments a while ago. >> the rich will not be gaining at all, the wealthy will be where they are. we can do that, we would like it. if they have to go higher they will go higher. >> one thing the president stand by is his desire to have a 15% corporate tax rate but several in the administration including the treasury secretary steve mnuchin tapped out on what is possible which helps the press secretary earlier today, where exactly the administration stands on this issue. >> the official position, 15% rate needs to happen and all of this is subject to negotiation. >> it is 15% is the goal, remember pushing for that, that
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certainly hasn't changed. >> the devil is in the details with all of this when a bill might be put forth or numbers come fourth and we have a timeline when that is expected to take place on the hill. republicans were told to expect a detailed framework week of september 25th meaning of the next 12 to 16 days. dave: bret baer has an interview which will be shown tonight on fox news with steve mnuchin, the treasury secretary. he doubled down on the 15% number for a drop saying i'm all for that because there's question whether he was wobbling, he is sticking with 15%. here is art laugher, chairman of the man is a man who many times crossed over the aisle to get deals on taxes when he was with the reagan administration. my feeling, i is yours, you should get it from wherever you
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can get it. because they are going to mean more economic activity which means more growth, right? >> the real big hit, big one, so proud of donald trump and steve mnuchin for sticking to the 15%, that is the kicker to get this economy going and all the other stuff, inductions or exclusion or the top, if you get the 15% you will get a boom. dave: one of the concerns people put out is people don't like it, democrats don't like when rich people get tax cuts but when they do invest money, good for the economy blues the president said for many people in the administration they say is lower rates on the rich, take away their deductions they may end a paying more but that would mean the money they are paying accountants protect i did in the cayman islands will go towards investment and that is good for
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the economy. >> let me say this clearly. every time we have tax rate reductions on the rich they have paid more in taxes as a share of gdp and a gdp every time we raise tax rates on the rich they have paid less in taxes as a share of gdp and the crash besides. let's not be silly, the rich need incentives like everyone else, warren buffett pays no taxes because the shelters every. dave: cost of sheltering your money, they may be paying the same to uncle sam ballista their accountants and billions of dollars are spent trying to avoid paying taxes but look what happens to gdp, we have seen this figure before, forgive me but it is important to point out, 1981 tax deal that art laugher put together was not ideal, reagan worked with democrats who wanted higher taxes but it got through and look what happened when tax cuts kicked in in 1983 with gdp going
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up to 4.6%, the next year 84, 7.3% and it was never below 31/2% every year of the reagan administration. >> in 1984, gdp grew by 12%. you got it right there, 12% in a year and a half, 8% annualized growth, solving lots of problems. dave: for those people who think republicans would be tax cuts best friend should remember republicans i stick in the muds about being revenue neutral. one person who knows that very well is steve mnuchin who said so on fox news a week ago, play that tape. >> we believe in dynamic scoring. under our models at the treasury, this will pay for
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itself. we may not get full credit for that. there will be short-term impacts on the deficit. we want to be very careful paying for this with growth. dave: paying for it with growth, something the people who think about dynamic scoring cleaning look at the numbers and not the real effects of a tax-cut on the economy got wrong. >> just so you know it when you drop the tax rate 35% to 15% those loopholes, tax evasion, all of that is less attractive and they pay their taxes and don't use those loopholes and you get huge secondary effects on revenue so my estimate is if you cut the corporate rate to 35% to 15%, that would bring additional revenue of $1.6 trillion over the next decade because you look at behavioral things and economic growth these other models don't do that and i am sure steve
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mnuchin does that because they understand it. dave: i see why ronald reagan loved you, he must of love you tremendously. >> we got along very well but not any better than you and i do. dave: someday we will run the administration. liz: a new program helping homeowners with the impact of the storm when they are not able to return yet. dave: president hosting democratic leaders chuck schumer and nancy pelosi. liz: are you going to be there? i would like to be there. dave: as he continues to reach across the aisle a look at what is on the menu and how republicans are responding. liz: bernie sanders unveiling his plan for or medicare for all, a government healthcare plan that not all democrats are behind. republicans senator graham, we
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will look at what if any chance either have of moving forward. >> there are three choices, prop up obamacare, berniecare or our bill. that is where you are.
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dave: senator bernie sanders introducing medicare for all healthcare bills that would push the country toward socialist healthcare with he says would be an annual price tag of $1.4 trillion. americans would receive a, quote, universal medicare card that would cover most services including hospital stays, doctor's visits, eliminates the premiums for private health
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insurance deductibles and co-payss. sanders's healthcare plan would be paid for by proposed 2.2 income tax on all americans, 6.2% levy on employers and a further round of tax hikes on the wealthy. a group of republicans are pushing a new health care bill, there's would do away with many of the subsidies and mandates of obamacare and provide block grants to states to help individuals pay for healthcare coverage. >> if you believe repealing and replacing obamacare is a good idea this is your best and only chance to make it happen. everything else has failed except this approach, which will work if we get behind it. dave: donald trump replied republican efforts to overhaul obamacare. melissa: here to react is republican senator from montana steve gains. thank you for joining us. what do you think of bernie sanders's plan?
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>> democrats are back to tax and spend. this is government run healthcare, socialized medicine. california and vermont look at this, say they can't afford it. california recently looked at it and their own cost estimates said that system would cost more than the total state spending. some estimates for bernie's plan will save $3 trillion of additional spending. the american people know the answers are not more government especially when it comes to health. this is the philosophical difference between republicans who believe in less government intervention and democrats who want to complete takeover of the system. liz: what about lindsey graham's plan? >> in the and senator cassidy have an interesting idea going back to what republicans believe which is moving control to the states, move those medicaid dollars back to the states, let
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a state like montana, very different needs, state like new york and california, it is worth looking at the fact that the governor and legislature and people back home plan for healthcare system, not bureaucrats in washington dc. liz: these things have a chance of actually going anywhere and if not why is everybody wasting their time? we have a lot to work on. >> on bernie's plan the government takeover of healthcare is going nowhere, dead on arrival. it let the american people know if they have control of this place again that is where it is headed. it relates to senator graham cassidy's plan, we have until the end of the month to look at it and see if there's any traction. i am an engineer, i believe in solving the problem. this would solve the problem, it is worth having some debate. melissa: i don't want to avoid asking about the wildcard of your estate in montana, what is going on? a lot of natural disasters, hard
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to get the attention to individual ones. >> it is and thank you for asking. harvey and irma, we had one of the worst fire seasons in memory in montana. most wildfires are burning in montana, million acres have burned so far coequal the size of delaware. we need to better manage our forests. we manage the forest or the forest will manage us. that is what we see in montana. additional resources bring the fire season -- we have lost two firefighters in montana. this is an important issue, we are breathing smoke every day, we are sick and tired of it and we need to let montana manage these forces versus bureaucrats in washington and environmental groups that are stopping common sense forest management projects. melissa: appreciate your time. dave: sounding the alarm the
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trump administration stirring up warnings for china if it doesn't stop doing business with korea. sports tv going to political extremes, the espn host who called presidents and those who voted for him a white supremacist, should she is still have a job? fox news media analyst sounding off next. >> i don't know how people who voted for donald trump can feel comfortable watching espn when they know the value that network espouses and how unwelcome their own values are.
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♪ stare with me into the abyss ( ♪ ) dave: espn is under fire for only giving one of its hosts, jamil hill, slap on the wrist after a twitter tirade against donald trump tweeting in part, quote, donald trump is a white supremacist who has surrounded himself with other white supremacists. she is here to delete the
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tweets. espn is not making hill apologize but issued a statement saying, quote, the comments on twitter regarding the president do not represent the position of espn. we have addressed this and she recognizes her actions were inappropriate, so again the tweets of not been taken down. the host of media buzz, howard kurtz, do you is comments are a fireable offense? >> i am off-the-wall angry about this, the cohost of espn's flagship program sportscenter not only weighed into politics but racially inflammatory criticism of donald trump is infuriating but equally infuriating is that lame, wimpy response, inappropriate, we have talked to her, no apology from the network, no apology from her, it is not come close to matching the incendiary tone of that criticism.
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dave: your answer is yes. that would not be putting words in your mouth used with a fireable offense. >> there are can be sanders so. she said that from the white house podium. espn are to take some action to demonstrate to its viewers, people who are not necessarily of the liberal persuasion, we know espn leaned left, it takes this more seriously than it is inappropriate. dave: i just read one week, there were a bunch of others including ones that say the same about everybody who voted for him. it is insulting to a huge segment of the american public and inflames already raw nerves. >> she called him a bigot, unfit for office, offense event assaulted 63 million americans. dave: curt schilling was fired for making political comments from a conservative perspective. >> espn is more willing to take action when there's a controversy for somebody who has
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a philosophy on the conservative side. dave: i don't know why we can't get back to plain old sports reporting, what the station is supposed to be about. one more subject a lot of people are talking about, celebrity telethon for hurricane victims got political very quickly. here is some of it. >> anyone who believes there is no such thing as global warming must be blind or unintelligent. >> during a time when it is impossible to watch something violent or racism in this country. >> many of us have been frustrated, bombarded with images. dave: i may surprise you but i thought it was going to be worse. i thought everybody was going to say something about global warming, despite the fact the past 12 years we haven't had a big hurricane season except for
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this year, it is like i thought every single person except the folks in nashville and san antonio where things are more conservative i thought it was going to be worse than it was. >> it wasn't as bad as some of the award show that attacked donald trump by name but you have to be blind, i like stevie wonder not to see how politicized -- there was plenty of room for debate on television and elsewhere about the destructive hurricanes and whether global warming plays a bold but when you are raising money to help the victims, that strikes a sour note. dave: didn't seem the right place at the right time but didn't you think there would be more of it? >> i did. dave: particularly from hollywood crowd, great to see you, thank you, don't forget you can catch howard every sunday morning for media buzz 11 am eastern on fox news. melissa: as residents in the keys recover, unable to return home, wondering about everything they left behind, noah, however ceric and oceanic administration
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is helping creating maps of the keys allowing citizens to view their homes in incredible detail, the maps are available on no's website. you can go right down and see what is happening. dave: technology helping us to recover. millions are still without power as rising temperatures are posing a new threat to the elderly. melissa: reaching across the aisle, donald trump meeting with democrats to help american workers but will the two size come together next? charlie hurst from the washington times response.
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so what else is new? humm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that. first, let's take a look at your financial plan and see what we can do. ok, so we've got... we'll listen. we'll talk. we'll plan. baird. is everything ok?adt, i could hear crackling in the walls, and my mind went totally blank. all i remember saying was, "my boyfriend's beating me" and she took it from there. when a fire is going on, you're running around, you're not thinking clearly, so they called the fire department for us. and all of this occurred in four minutes or less. within five minutes. i am absolutely grateful we all made it out safely. it's kind of one of those things you can't even... you cant even thank somebody. people you don't know actually care about you.
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to protect what you love, call 1-800-adt-cares >> another party on wall street, all three major averages, document and pianistic closing a brand-new record highs for this to second straight day, the third day for the s&p. bringing politics to the dinner table, donald trump hosting democratic minority leader nancy pelosi and chuck schumer for dinner tonight, the latest push to work across the aisle to enact his agenda and push tax reform forward. the reason i love to have you on
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is you provide the nuances of those conversations in the hallways, that is where the legislation gets done. i imagine in the hallways a lot of establishment republicans are very nervous about this dinner tonight. >> donald trump pivoting from republicans to democrats, it comes back to the numbers, 217 to 213, that is the narrow margin they passed in the house of representatives in may, switch a couple votes, wouldn't have gotten through the senate. 90 republicans in the house voted against the combined bill on the hurricane aid relief, raising the debt ceiling, that is on a republican nos. donald trump knows in order to detect reform, keep government open in december, raise the debt ceiling next year and do infrastructure he needs democrats, he is pivoting to
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democrats right now and what will democrats ask for? daca? is that something down the road? express interest in immigration reform and commented about that but let me do tax reform. here is the problem. that is come up in the last couple weeks, hundreds of billions of dollars that congress has to approve in coming months for the hurricane in florida and texas. that will make it harder to do tax reform and mark meadows, chairman of the house freedom caucus is worried about the president alienating conservatives. dave: i can tell you this. >> it makes it more difficult to do revenue neutral. this is the time to look at what the freedom caucus has been expecting, expand the budget window, not make it revenue neutral and be aggressive about tax reform and tax cuts for the american people. >> reporter: that is what they are looking at as they figure out where to go with us. i will point out one senator, on
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the senate finance committee he says we keep hearing coming soon, he will believe it when he sees it. dave: steve mnuchin just said in an interview he doesn't care about cbo or revenue neutral stuff, he thinks if you have economic growth from a tax cut it will take care of things like spending for hurricanes. we love you, you, got to move on. melissa: fighting for the middle class at the expense of the rich, donald trump defending his tax reform plan and a bipartisan meeting earlier today. >> the rich will not beginning at all with this plan, the wealthy will be where they are. we can do that. if they have to go higher they will go higher frankly. melissa: charlie hurt of the washington times, fox news contributor. what did you think of that? >> something he has been saying
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for a long time in terms of wanting to negotiate all of this and what we have seen the last six months, republicans unable to come to the table to work with these issues, now it is tax reform, we have begun negotiating with democrats, as a conservative i like that less, i wish republicans had stepped up to the plate on obamacare and other things. as we have known from the beginning from the first moment he launched his primary campaign he is willing to work with anybody. melissa: 1%, superrich people, new york, san francisco, la, hollywood democrats, liberals, talking about democrats, rich people among republicans but there has been a huge switch in
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the country. talking about working middle-class people these 5 people that voted for him, giving them tax cuts as opposed to characterizing it like tax cuts for the rich are all his buddies, they are hillary's buddies. >> it is remarkable when you break down demographics based on income in the reason donald trump is in the white house is because of those working-class blue-collar voters who traditionally are democrat switched over and got behind him and i in the press in washington and new york everyone is freaking out about donald trump and the trump administration and the upheaval and stuff but i don't most regular americans who put donald trump in the white house care about palace intrigue and upheaval press spent so much time talking about.
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they care about this. if donald trump delivers this and the jobs picture improves, what is russia? nobody cares about russia. melissa: in hollywood it is a different picture versus spending all day working during middle america. let me ask what sarah sanders said today. >> this president has done more for bipartisanship in the last we a day that obama did in eight years. melissa: everyone said you got to reach across the aisle, president obama didn't and that is one of the reasons everything became an executive order and got rolled back. donald trump is falling into the same track out of the gate but quickly changed his tune. >> he has done more for bipartisanship not only barack obama but the past 40 years in washington by doing this. do i like the deal he strikes with democrats more than the deal he would strike with republicans note.
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i would rather he strike a deal with republicans but that is why it was important for republicans to step up to the plate and do something whether on obamacare or whatever and the fact they failed to do that will be on them for a long time but also important to remember that the other reason obamacare didn't get fixed this year
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>> china, you are on notice, steve mnuchin telling bret baer the administration is prepared to stop straight within the country including china. >> worked on an executive order, it is ready, if the president wants to use it we can stop trade with any country that does business with north korea. >> stop trading with china? >> with anybody, nobody would be off the table. asmac you can see the rest of the interview at 6:00 pm eastern time on special report and fox news. here is chuck nash, retired navy captain. i am wondering if they will have the follow-through.
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this is tough to follow through on. you think they will? >> it may come to. if things were to continue the way they are and if this thing were to go to kinetic means where we are slinging weapons at north korea, what would happen to trade with china? it would go to 0. if we could get china to act in its own national interest seeing that a trade embargo from the united states would cripple the weakened economy that economy is weaker than people think. asmac you used the phrase in their interest you see it very much in their interests to have a belligerent dictator like the dictator of north korea to be in power and remain in power, that is in their interest as well as trade. where do they choose and how far do we go to stop trade? >> what they have to see is it would not be in their interests if we were to start a trade war
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the cost of half $1 trillion, are you nuts? what do you think a war would cost if it starts with north korea? it would cost that plus lives and destruction as opposed to just money. here is where china has to come to their senses. they have raised a really delinquent regime over there, they supported come 80% trade partner and what this is going to do is through north korea, it will be china looking at a re-militarized japan and -- asmac getting back to the chinese, they are obstinate about this, don't like to be pushed, very often they push back like donald trump, do you think they will respond to this or become more belligerent? >> the chinese have a long view of history and i don't think they would risk their economic well-being and that long future
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over a short-term thing. asmac thank you very much. >> a really crazy story, irma and the aftermath of hurricane irma, how one american person stand on the island of saint maarten. think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp you can do endless move 201online research.t, or, you can take advantage of our best offer ever on an xt5.
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big, millions still without power in the state with temperatures into the triple digits. it is not only the human but the humidity. the dental has risen 18 in the us including the this is awful, six people left in a florida nursing home but lost power. there is a criminal investigation into this, shades of what happened in new orleans. >> the french president touring the massive damage on saint maarten in the caribbean, promised a fast recovery and there are increased patrols. to deal with a rash of looting and lawlessness. on the phone with us is adam lynch, american tourist trapped and rescued from a resort in saint maarten. thank you for joining us. your story). you were forced, the doors to your hotel room came off the rail, you had to go into the bathroom with someone else and lock the door and told the door shut during the storm.
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that is and even when the real danger began. after that you were stuck at this resort with nowhere to go and there was looting and stealing and it got hairy. tell us about that. >> the hurricane itself was scary and dangerous and the aftermath, we were getting lots of different misinformation about being safer than we were, not realizing we were further deepen it. it was really dangerous. people were being assaulted, robbed. there were people at our resort posing as guests. the resort itself put wristbands on everyone, verified who they were so we could identify if
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someone wasn't supposed to be there. >> it got to the deck of a blocked the entrance with cars so people couldn't -- >> they did early on for our safety. there was only one way in and one way out and it started by three men the entire time. liz: you are looking for rescue. you were putting facebook entries up and said i would take a plane anywhere. finally there was a cruise ship coming in. tell us that story. what was that like and what do you see on your way to the cruise ship? >> we saw the royal caribbean coming across the horizon in front of our resort. we were in front of the main docking station, a large-scale cruise ship, came around the
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backside and through powergenerating wi-fi, allegedly there were cruise ships coming to save what was reported as americans, just people. the resort didn't want us to leave because they were not able to confirm our safety. there was no military protection. it was just to risk it all to get to the cruise ship in the hopes it was truly there to rescue people and get us out of there and that is what it was. eight people piled in a single pickup truck made our way to the port just to be turned away at the last minute by the dutch army who told us it wasn't rescuing people and was simply dropping off supplies for the people of the island, only to have it reversed again with insight of it and allowed to
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board and be truly safe. melissa: eight people on the back of a pickup trip as you are turned away from where you want to get on the ship and get to safety, he realized once you made it to the ship you called some people at the resort and it had in fact been a complete tinderbox, looking at pictures of both turnover, the island destroyed and after you left things got hairier. you said it was a combination of terrorist attack and the walking dead. >> to have even made it back to the resort, i can't imagine what that would have like. the 190 people that left left, there was nothing there to protect it. melissa: we hope you get back to the us soon. i am sure things won't be going on a trip like this for a while. glad you are safe and talk to
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you soon. we will be right back. don't let dust and allergens get between you and life's beautiful moments. flonase outperforms the #1 non-drowsy allergy pill. it helps block 6 key inflammatory substances that cause symptoms. pills block one and 6 is greater than 1. flonase changes everything. anything worth pursuing hard work and a plan. at baird, we approach your wealth management strategy the same way to create a financial plan built to last from generation to generation. we'll listen. we'll talk. we'll plan. baird.
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>> the power of prayer meets the power of the chain saw. >> florida is cleaning up after irma look at pays taking a chain saw to fallen trees, i love it. >> here is risk & reward. >> the rich will not be gaining at all with this plan. the wealthy will be pretty much where they are. pretty much where they are. we can do that, we would like it if they have to go higher they will go higher frankly. >> liz: president trump draining the swamp by now working with the swamp. nasa adjusting the upper bracket s may face higher taxes, just as democrats demanded. the president hosting a dinner tonight with chuck schumer and nancy pelosi before he goes to florida tomorrow to survey irma devastation but according to democrats is the president alienating his base tax hikes or will the media get it all wrong? did the president tell you all along he's not

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