tv Mornings With Maria Bartiromo FOX Business September 14, 2017 6:00am-9:01am EDT
shale with more and keep prices low. lauren: supply certainly not at issue in the u.s. cheryl: that does it for us here at "fbn:am." now we turn to maria bartiromo. maria: hey there, girls. thank you very much. happy thursday. i maria bartiromo. thursday, september 14. 6:00 a.m. on the east coast. president trump strikes another deal on border security. senate minority leader chuck schumer and house minority leader nancy pelosi says the deal excludes the wall, but the white house says that was certainly not agreed to appear for public and curing up for tax reform and the new rollout, reiterating his call for 15% corporate tax rate to warning the wealthiest americans might pay more. >> we won't be able to compete with anybody. nobody will be able to touch us. we would like to see 15%. the rich will not be getting at
all with this plan. we are looking for the middle class and we are looking for jobs. >> all this coming ahead of the visit to florida will he were surveyed the damage from hurricane irma is a criminal investigation is launched into nursing homes. breaking news overnight. in the threat from north korea wants to reduce the united states to actions in darkness. market lower this morning after the major indices closed at a high yesterday. major indices of the dow jones industrial average up a fraction of two points. s&p 500, nasdaq down fractionally. investors waiting on the bank of england decision this morning happening in the next hour expected to keep interest rates unchanged. in asia overnight, markets lower to close concerns about china's economy weighing on the market after industrial activity is the shanghai composite down a third of a percent. the other is mostly weaker.
martin said by breaking up behind bars. his bill has been revoked after offering money for a piece of hillary clinton's hair. he said it was satire. the judge not laughing. sorry, not so sorry. jamele offering apologies but only because it put her employer in a bad position. journey to talk talk about it, dagen mcdowell, mitch rochelle and group ceo, former nfl star, jeff brewer is here. great to see you. >> before the show started, were talking about taxes. we get fired up about this. i cannot wait for the discussion that will ensue. maria: another deal with the democrats. what does that tell us in terms of what might be down the road and tax reform? >> resident trump says that it could even go up for the rich in based on the dealmaking is done with democrat, whether it is the
dreamers, whether it is funding the government, you better take him at his word. maria: sounds that way. a lot coming up. join the conversation this morning, texas senator ted cruz will join me. congressman tom reid is here. democratic mayor congressman and vice chairman of the problem solvers caucuses here. from hp ceo herself, pearly c. arena as with ssl. executive chairman of genetic, michael rubin is with us. we kick it off with our top stories this hour. cutting a deal in turn 11. democratic leaders in the house and senate have reached a deal with president trying to protect unauthorized immigrants brought to the country by their parents. in a statement following dinner at the white house, chuck schumer and house minority leader nancy pelosi said this, and i quote, agree to enshrine protections of daca into law quickly and work on a package of
border security excluding the wall. that's acceptable to both sides. the white house pushed back on the characterization is fair or huckabee treated this. all reporter: and border security were discussed, it was certainly not agreed to. if the deal holds, would be the second major agreement between chuck, schumer and policy in many weeks following the debt ceiling just last week or join us to talk about that, the london center for policy research in the tenet governor of new york, betsy mcroy said this. >> good to see you. the american people are winners because at last this administration is restoring the rule of law. the president itself does not have the authority to make immigration policy in the big win last night was the recognition that it's congress that must act on this. tree into how much of this is a message to the republicans to say you've got to act together. you can't do a deal on anything. out goes the democrats. >> it's a powerful message on health reform because the
package that they are discussing, pouring $8 billion into additional subsidies for the insurance company would be throwing bad money after good. these are subsidies for cash payments to poor people who otherwise would have to duck bullets and co-pays. the fact is that this is giving a big middle finger to the middle class because they are already paying so much for health insurance like paying for mortgage. the theme of the deal is poor lies matter. class not so much. >> with this statement from shimmering pelosi and siri sanders as he mentioned while daca and border security were discussed, excluding the wall was not agreed to. on top of that, chuck schumer spokesman treated, the president made clear he would continue pushing the ball, just not a part of this agreement.
this is a critically important promise. he ran on that wall and it is clear that he still intends to have a bill. >> tell it to be a part of anything infrastructure package for sure. maria: so is politics on schumer's part? dagen: politically at this statement put out is the way it read initially. phillies raised the question of border while funding. that's the first thing we are taxing and e-mailing. i was the first question. maria: meanwhile, president trump suggested that tax bills of the wealthy americans under the plan may not see any benefit. listening to this. >> we want to 15% rate because
that would bring us love not by any means the lowest, but it would bring us to a level where china and other countries are and we will be able to compete with anybody. nobody will be able to touch us. and by the way, lower for individuals. much lower than that for individuals. the rich will not be gaining at all with this plan. we are looking for the middle class and we are looking for jobs. i think the wealthy will pretty much be where they are. if they have to go higher, they will go higher. >> i don't think he is referring to rates there. there will be closing of loopholes which would cause upper income people to pay more. maria: how is that a tax cut? you're not going to do that on the rich, what are we kidding here? >> there are loopholes on the table. state income taxes, property
taxes all of which don't impact the lower 50%. >> just eliminating those deductions and that's where the highest earners will not see. >> the other key issue no one seems to be discussing but i spoke with kevin brady the other days retroactivity. if you want the tax package to have a big impact, it will cost more. they've got to deal with the deficit hawks, especially in the house. richer activity will be key to the success of this plan. dagen: can we talk about this? resident trump was pretty clear. taxes could go up for the wealthiest. and in april statement in the white house they called for the worried all the taxes, but he is saying i'm raising taxes. by the way, what is the top 1%?
>> 926, but that doesn't include -- dagen: though, income. >> the top 10% of americans is 133,000 in the top 25% to $77,000. dagen: you keep talking about the middle class. half of this country roughly almost pays no net federal income tax. with all of this spending, who is going to pay taxes? how much are you going to tax the highest earners? >> if he is to cut a deal at the democrats, the quote, rich are going to take it on the chin in order to get the corporate tax deduction that trump really wants to spur business growth. maria: that is exactly the word everybody had going into these meetings between the president and democrats. we all know the president said from the get go we are not
cutting taxes by 1 penny of the highest earners and we also know the highest earners pay 90% of the tax. there is no attacks here at all. >> the big challenges small business generates more than big business and most of those are at llc and others. how do we figure out how to reduce the tax burden on those? >> we are told they will be treated differently from individuals. here we are coming to the ends of the democratic parties, politics can be. that's what it is. maria: what you mean? >> they are playing on peoples emotions and say we don't want to give tax cuts to the rich when in fact we need tax cuts to spur growth. we know that those tax cuts benefit workers. dagen: president trump certainly seemed eager to gobble whatever they are cooking up this moment in terms of the tax overhaul and that is concerning.
>> mcconnell and ryan have to send a valentine. they haven't been very friendly. maria: the week of september 25th is that we'll get. >> last time it was one page. maria: dallas in april. that's all we have. what happened to president trump's ideas of trickle-down economics that you really have to create an environment for the highest earners that would be pushing them to make new job creation? >> you certainly stood by that with a corporate tax cut. he said again and again, if you look at the data, 25 countries, you will see whatever country raises corporate taxes, when they cut corporate taxes, wages go up. very clear correlation.
maria: the corporate tax rate is going to be -- >> that's the major part of the trade. maria: will keep looking at that. becky mccoy. who will break down senator ted cruz tax plan at 8:00 a.m. eastern. be sure to tune in for that. ted cruz will join me in the studio coming out. new threats to north korea this morning. japan no longer needs to exist in the u.s. should be reduced. the provocation from north korea coming north korea coming out. aqua fax tumble. the company feeling more pain is that stock tumbles again. new revelations about heaven security breach have been. that is coming out. anything worth pursuing requires knowledge, hard work and a plan. at baird, we approach your wealth management strategy the same way to create a financial plan built to last
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for an infection or have symptoms. or if you have received a vaccine or plan to. inflammatory bowel disease can happen with taltz. including worsening of symptoms. serious allergic reactions can occur. now's your chance at completely clear skin. just ask your doctor about taltz. maria: no deal was made last night and daca. massive would have to be agreed to an exchange of defense. we've got this tweet right now coming from the president. no deal was made last night on daca. massive border security would have to be agreed to and would be subject to both. conversation this morning is about the president making his due at democrat last night and excluding the wall funding. meanwhile, equifax with an unknown third party for its problems. cheryl casone with the details.
cheryl: aqua fax and the criminals exploited web server software in the data breach that affected 143 million americans. the company didn't say who may have been behind the attack. the ceo to testify october 3rd before a house panel about the massive data breach again affecting 143 million americans. the stock has fallen more than 30% since the revelation of which was just last week. this morning, and barton shkreli is in jail. a federal judge revoked the bail after offering a $5000 reward on facebook for anyone that would get him a strand of hillary clinton's hair. he argued the offer was political satire for strange humor. he did apologize he wrote a letter to the court that claims the drug company ceo was indeed a danger to the public.
since i've discussed his legal situation in a recent interview with maria. >> this is the case about targeting the guy, individual and see what they can find. i don't think they'll forfeit any money or go to jail. >> in the securities fraud case january 16 to 2018. well, the white house is responding to the controversial tweets from espn host jamele hill who used her twitter account to call president trump erase the premises. sarah huckabee stander shot back. >> i think it's an outrageous comment that anyone could make an certainly something that is a fireable offense by espn. >> espn called her treats inappropriate. she regrets her comments in an unfair light. the singer headlines.
back over to you. >> a lot of stories to unpack. what do you think? >> you just can't say which you want to say. this is america. you have an employee here and people to deal with. the question is why. what is the point has been on espn and calling the president of the united states awaits the premises. the definition of a white supremacist is pretty extreme when you talk about someone who directs towards people of hateful, violent and those are serious word. you shall pay the consequences. dagen: i always think attention seeking behavior, are you seeking greater fame when you say something so incendiary that has nothing to do with your job.
what is your goal? are you looking for a bigger deal, better deal, network cake? there's always a reason behind saying something like that. because politics you can keep the monster family and friends and have those hard discussions intense discussions. when it has nothing to do with your job, it begs the question of why did she do it. >> very well put. now everybody knows who she is. dagen: yes indeed. maria: we will take a break. when we come back, south korea steps up. north great basis for a flagrant threat against the u.s. and japan now. buy one get one iphone? which company is betting on pogo
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maria: welcome back to the president is reading a lot about the wall. north korea lashing out. threatening to use nuclear weapons on japan. they also took aim at the united states saying this, let's reduce the mainland into a hash is in darkness. globalization. that has been prepared until now. joining us right now is carnegie melon director, fox's foreign policy analyst. good to see you. thanks for joining us this morning. provocations for all the latest sanctions put in place by the united nations or north korea. your thoughts on the latest provocation from north korea. >> it is part of a growing
pattern across the north korean behavior for military to rhetorical behavior, economic attempts as well, economic and financial espionage. i think it is a country that is on the run, he later confused by the fact that the international system is taking the debate. the south koreans and americans have engaged in military drills in response to the various nuclear and ballistic missile tests that have taken place in 27 games. but they are showing desperation. they are showing more cohesion. they are a growing chorus of countries against north korea. it is more isolated now than at any point in the last decade or so. that is largely due to the directed policy of bringing nations together, ultimately
against the country, but even yesterday with steve mnuchin give a clear statement about any banks that do business or any companies that do business in any way with north korea that the u.s. is prepared to act alone. that on top of the u.n. security council resolution was a unanimous vote that added more sanctions as penalties against the north koreans. when you look at all about, this is a bad time for north korea. maria: this is from the interview last night when stephen mnuchin was clear. what are we going to do about the maniac? >> sanctions are a challenge because every going to mess with the largest sovereign holder of our debt. that's at the end of the day.
if we get into back-and-forth over trade, it is one thing, that they are the largest holder of u.s. debt and i don't know that our capital markets can afford >> you saw the new sanctions come out of the u.n. security council unanimous vote to adopt the new sanctions, but they were watered down. they did not go with china and russia. we rolled back the assistant that all of the oil embargo. does that say something about of our lack of action in the months and years to come you didn't? >> i don't actually think so. if i go back to their prior point, that the chinese, if we impose strong sanctions against them that it's going to have a
big impact because they hold so much of our dad. i think what is going to happen, we probably won't get that far because the chinese have feared having a destabilizing korean peninsula. what they are now realizing that they have a destabilized korean peninsula because of north korea. with the humanitarian crisis and the refugee crisis, they don't want regime collapsed or at least they haven't in the past. they worry about a unified korean peninsula with the capital being sold, democratic country right on the border. they don't want to reach an arms race. things that they feared are starting to become more of a reality. that is going to change the calculus more than anything else. the talk about sanctions against chinese banks actually make sense in the broader context
because it's making the chinese look at their options in a very different and more realistic geopolitical life. maria: great analysis. thank you very much. we'll see you soon. breaking news from the president speaking once again this morning. he says the wall, which is already under construction in the form of new renovation will continue to be built. pushing back on an idea, which excluded the funding for the wall. president trump and vice president pens in florida to get an idea on the rebuilding efforts after hurricane karma. the president approves millions more in fema aid. boeing wins the next fleet of planes. the multi-billion-dollar steel coming out. ♪
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terms on border security excluding the wall but this morning the president says that was not the case, no deal was made on daca, massive border security would have been agreed to in exchange, the president just tweeted that on. he goes further and says this, the wall which is already under construction in the form of new renovation of old and existing walls will continue to be built. the real back and forth of what was agreed to last night at the dinner. coming ahead of the president's visit to florida where he will survey the damage as criminal investigation has been launch intoed the death of a nursing home, big story there as well. florida senator bill nelson weighed in on the tragedy. >> i think it is an emerging scandal of proportions with eight deaths already. the police will get to the bottom of this and their
investigation. now, the question is to prevent this from happening in other nursing homes. maria: very latest on the irma recovery effort this is morning. markets edging lower today after indices closed at record-high yesterday. take a look. this morning a pullback, that's what we saw yesterday and at the end of the day the markets hit all-time high. investors are waiting of the bank of england this morning, waiting on a digits next hour, the bank of england is expected to keep rates unchanged. ftse up 2 points and dax down fractionally. the u.s. say no to deal between chinese and u.s. semiconductor. at&t unveiled deal for iphone but there's a catch.
the numbers you need to watch coming up. plus a major deal for boeing, it won the contract for the new air force one, we have the details there. elon musk next move. the deal of the automakers semitri. all the details. top story half an hour, irma trump and vice president pence will head to florida in about two hours to survey the damage left behind by the historic hurricane. the trip comes as millions across the state grapple with power outages. in fort lauderdale police are investigating the death of eight people, senior citizens after the storm knocked air-conditioning at the facility. remaining residents remove today nearby hospital, president trump spoke last night and the devastating one, two punch of harvey and irma. >> we had two massive hurricanes and you put them together we had devastation in texas and in florida and we've done -- and
other parts of our country, by the way. i think we've gotten very high marks with the way we handled them. maria: jack, you have a home in florida but just came back from texas, tell us what you saw. >> devastation. i've traveled around the world and done relief efforts in many parts and this was eye-opening just to see so many families, americans that are living without clean water. complete towns without access to clean water. i mean, i was in homes that had receding waters come down from them. i mean, this is ten days after the actual hurricanes. these things are real. there's families there. the administrations has done good job on high level but we have to change the way we go
vast relief on local level and hands on level. entire relief effort in texas, the majority of it was conducted by the churches, by the people, by the americans coming into town from all over the country bringing their boats and bringing supplies. i mean, we delivered 10,000 supplies, helping blind ladies clean out their homes and prepare themselves for life after this tragedy, but there's a lot work to be done and it's a widespread problem and the agencies have gotten to it yet. >> the lack of coordination between municipalities, did you see that because i'm listening to what you're saying because it really being people helping people. was local government coordinating with fema and so forth, was that happening? >> not really, not in a small town. i traveled throughout the
outskirts of houston. i did 2,000 miles over 5 days going to find pockets of people that hadn't seen anybody, places like crosby, texas, b -- beaumont, texas. fema is offering a lot of the individuals loans versus giving grants, these people are low, low income. they've lived in hair houses, some are 77 year's old and the only answer that they have is a fema loan and that's just not phoning to work for a lot of folks. i'm really concerned how that's going to play out particular to lower-income americans in this crisis. dagen: you're highlighting something that the reason that we continue to cover the story news media often blasted for the way in which we cover hurricanes
and major weather events but we keep covering the story because the people lose their lives long after the storms pass because you look at the story out of florida, about the eight elderly people dying in nursing home simply because there's no air-conditioning and power. down in florida, for example, there's a large part of the state that still does not have electricity and people who are older and compromised immune system and cannot handle that kind of heat. these are stories that unfold weeks after as you eloquently pointed out jack. >> the long-term recovery efforts are key, phase one, two, three in any recovery but this is going to be hard. i'm actually heading down to south florida this weekend, we've started a clean water effort where we are trying to clean water at the tap. i've watched millions and millions of gallons be shipped all over the country and i just
think we -- as americans we have running water here. this is not haiti, this is not southern region of africa. we need to use aquaqtabs and opportunity to clean water. i flew on a plane over 300,000 gallons of clean water, and so it's efficiencies. start being smarter when we get to ground level. maria: great analysis, jack. president trump tweeting this morning again and listen to this one, he just tweeted this out. does anybody really want to throw out group educated and accomplished young people who have jobs nom serving in the military, really? they have been in the country for so many years, plus, big border security. the president is obviously talking about the dreamers on the heels of this meeting last night with chuck schumer and nancy pelosi. is he completely changing his mind from two weeks after he's saying that he's going to enforce the law, what do you
think? dagen: i think the initial announcement about daca and dreamers, the way i head it from afar, he wanted congress to take action on it and to deal with this problem. maria: yeah. dagen: and to keep these people in the country. i never ever felt like that they were -- that they were going to deport these individuals. jack: i agree. dagen: they need to right-size this program and i think he's saying that very bluntly on twitter. maria: you don't think he's back-tracking? dagen: i thought he was putting burden on congress. we will take a break. when we come back ceo of tesla introducing the world to, quote, his beast and in sports apparel fanatic getting cash inveks from soft wang, force online but would a billion dollars be enough to battle amazon. we will tell you about
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maria: welcome back, markets are looking lower this morning. pulling back from all-time high yesterday. this is how the day started yesterday and ended up closing at all-time high. we are watching the fraction all move this morning with skepticism, a couple of names on the move next generation of the iphone are on the way and so apparently the deals. at&t running a buy one get one free, 8 and 8 plus and no word on whether it's good for premium iphone 10 which is going to ship in november. oracle banking on the cloud. expected to bring in more revenue from cloud sales and software for the first time ever when the company reports after the bell tonight. the expectations call for earnings of 60 cents a share.
oracle up 30 cents year to date. boeing wins another major aircraft to develop new air force one. cheryl: the air force awarded 600 million-dollar to bow to go begin designing the next air force one. this is one portion of the contract. after the initial design is completed, the air force expect today award a modification next summer that could involve delivery of the planes, the jets to be used by year 2024. bow asking going to boost from 12 to 14, boeing expecting demand is likely going to increase around the globe. shares of the company up 55% so far this year, made in america, folks. okay, tesla planning to take the raps of an electric truck next year. this is what ceo elon musk has
been calling a beast. it was shown in su sush in los angeles. shares of tesla, we should say, stock up nearly 70% year to date. that's a chart for you. finally in the world of hollywood, sad news, fans of good fellows and sopranos knew him well. frank has died of 78, some reports say he was 820. character actor in film for four decades. he was best known for roles, he played in good fellows and sopranos. complications from heart surgery that had taken place out in energy. those are the headlines. maria: we send our condolences. crazy about fanatics, online retailer getting august from soft bank. we will check it out next. back in a moment.
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maria: welcome back, soft bank is investing in sports e-commerce fanatics. a billion dollars to online retailer, bring to go 4 and a half billion, up from 3 billion. joining us to talk about it michael, executive chairman, owner of the new jersey devils and philadelphia 76ers. >> good to be here. maria: big deal for soft bank to be investing in this company. what are you going to do with this money? >> well, for us we think we have an enormous opportunity ahead. the company has been a fast-growing company. told we are around $2 billion in revenue. we have an opportunity to be
10 billion within the license sports e-commerce company over the next decade. we will invest aggressively and globalizing the business. we are going to invest in continued infrastructure. there's a lot of big investments for us to make to really help accelerate the growth of the company. maria: where do you see the growth coming in the next three to five years? >> when we started five years ago when we spun out of ebay, $250 million and gone to $2 billion in the last six years. maria: wow. >> certainly there's major growth in license category. for us being the e-commerce is part of our business, there's always wind behind us. what's very different about fanatics is we are really the only large-scale, what we call v-commerce, verticalized e-commerce company that's out there. amazon and alibaba is selling other people's products. dagen: we were taking at a
break. jerseys for nhl. hockey, baseball, football, basketball and even nascar. which of those sports is growing the fastest. which one is in decline? >> for us we've gotten major growth in all the sports and that's one of the real benefits in being online driven business. certainly the thing is interesting, you keep hearing about certain places that have negative ratings from a television rating perspective, we are seeing interests. nfl, we are up 14% year to date and you hear decline in ratings. it's not always on one television screen. it could be in many different mediums. >> michael, how much is your valuation driven by data, sounds like you have access to a tons of data on people and demographics, how much does that
plan into your business? >> it's a huge opportunity for us. historically a jersey was bought in sporting retailer and knew nothing of who was buying. the values we give to leagues an teams we work with, tens of millions of fans. we know everything about them, we know what they bought, what they browse, social preference. for us taking the data and giving it to leagues and teams to help grow business in addition to growing our business is very valuable. they see as important as the money and how we best serve the fan. >> michael, looking at the fact that your company started in ebay and all online, what do you think the state of brick and mortar business right now? >> our business today is mostly online. it's director consumer business. 90% on lion and 10% operating the stadium, we have about 40 different stadium stores that we operate. brick and mortar business will
be here in ten years and look different. we certainly think, look at company like amazon, they are about 5% of north american commerce today. in another decade they could be a quarter of all north american e-commerce. >> does that include incorporates brick and mortar? >> i don't think brick and mortar will be very important to amazon. i think whole foods deal was very unique and made a lot of sense to them because they needed the capabilities. but in general, e-commerce is becoming so important, becoming so much bigger that the actual numbers in ten years from now, brick and mortar retailer will be smaller, they'll be winners and losers. meanwhile you've got increases in labor, the business model is definitely difficult. it's not going away but looks very different. maria: that will have so many implication. you don't need all the space, it will impact real estate. >> 30% less retail locations in
a decade from now. i think you will see -- what makes fanatics so different, we are the only large-scale e-commerce company, you will see a lot more in brick and mortar retail. if you're selling the same merchandise that other people sell you will be killed by amazon and alibaba. you need to be different. dagen: creating things from the ground up that you know they will buy. >> a great example a few weeks cairo gets traded to the celtics, today minutes after that happen we know all the celtics fans, all the irving fans were vertical on the jersey. we are sitting with hundreds of thousands of blank jerseys in fulfillment centers and printing jerseys in realtime and that's how you can best service a fan. dagen: and then you push it to
the fans, you send me an alert on my phone, hey, you want the latest irving jersey. [laughter] >> if you really think about it, moments in sports is what makes our business. actually two things drive the business, holidays and it's the moments, the wins and losses and who emerges and who gets injured. this is such a difficult business to do a great job in traditional brick and mortar business because of complexion of majority. maria: what's your exit strategy, are you going to go public? >> we are focused in building a great company. we have great investors. the company is growing very quickly. maria: top list of 100 unicorns. >> we look forward being one to have top and for us the most important thing we think that the model of this kind of new emergence of new e-commerce companies. not that we are selling other
people's merchandise, v-commerce company, that's the next way and people are just starting to figure that out. you can't make money competing with amazon and alibaba doing what they do, you have to be different. maria: thank you so much for talking to us. congratulations. big deal michael rubin joining us there. reaching across the aisle. two lawmakers talking about the president's coalition with democrats. that's next hour with mornings with maria my dell small business advisor
with powerful intel® core™ processors. ♪ more maria welcome back, happy thursday, thank you so much for joining us. i'm maria bartiromo and it is thursday september 14th, top stories right now 7:00 a.m. on the east coast. push ago head with tax reform. republicans are moving forward to roll out their plans in the coming weeks set for the week of the 25th, as the president brings in democrats to reach a deal and the white house say it is bipartisanship is critical. >> the president is negotiating on behalf of the american people, exactly what he was elected to do. this president has done for more bipartisanship in eight days than obama did in eight years. maria: president reach ago cross the aisle in immigration. he did it last night with senate minority chuck schumer and nancy
pelosi. this comes after visit to florida this morning where he will survey the damage from hurricane irma as criminal investigation has been launched into nursing home deaths. we will tell you about that. markets are edging low e this morning after major indices close at high yesterday. a bit of a pullback, 9 points don oh dow industrials. fractional moves this morning. bank of england has decided to keep interest rates unchanged. the decision just out. not a major reaction there from markets. but as you can see, the bank of england keeping rates unchanged. that was the expectation and the ftse this morning is up 5 points. in asia overnight markets mostly lower. take a look. the concern was around china and the economy there after disappointing readings after industrial activity out of china. sorry but not so sorry. espn's jamel hill expressing comments about the president but only because she said it put her employer in the bad position. the outrage coming up. mercedes unveiled the type of
car and you won't believe the price tag on this one. the new it movie bringing clowns to the streets in protest. blaming the film for decline in business. yeah. this is real. all the stories coming up this morning, fox business network dagen mcdowell. mitch roschelle and former nfl star jack brewer is here. dagen: big news day. >> president trump tweeting about dreamers, tweeting about daca and i think that this is blowing up twitter. maria: but you don't think the tweet today indicates a change of mind, you never believe that he was going to deport these people? dagen: no, does anybody want to throw good-educating accomplish people and some serving in the military, really, they have been in our country for many years through no fault of their own brought by parents at young age plus big border security. again, i always felt like that
was the left, the liberals and the democrats trying to paint him as an evil man and i never bought it. maria: he's getting deals done with the democrats, he wants to get tax cuts done but this is where it becomes mirky. what do democrats say about that? texas senator and former presidential candidate ted cruz is here. former presidential candidate carley fiorina is here as well. don't miss it. we have a big hour ahead. stay with us on that. kick it off this hour with the top story. reaching across the aisle president trump meeting with moderate house lawmakers, the rich will not benefit from this new plan as press secretary huckabee sanders told reporters that the president is sick of the status quo. listen. >> we will be be able to compete with anybody, nobody will be able to touch us. so we would like to see 15% and
the rich will not be gaining at all with this plan. we are -- we are looking for the middle-class and we are looking for jobs. >> the idea that you guys keep trying to distort this into a bad thing is exactly why this president was elected, they were sick and tired business as usual and there's tired of somebody that would break up the status quo and bring people from both sides of the table together to have conversations today. this president has done bipartisanship in the last eight days than obama in eight years. maria: joining me right now tom, new york congressman tom reed, thank you so much for joining us this morning. >> good morning, maria. maria: you were both at that meeting. congressman, let's kick it off with you, what did you make of the meeting, tell us what came out of it? >> the most important thing is a cultural change that people are trying to work across party lines and find common ground.
doesn't mean we are going to agree on everything, finding common ground is something that we need to do to get things done. that's what the american people wants and that's what we are trying to do and the president try to start yesterday. maria: i think you're right. the question is is it going to come within back-tracking on some of his promises, for example, tax reform. >> well, the president has made it clear that he wants to try and reduce the corporate tax rate and democrats support the idea not because corporations need more money from dividends or stock buybacks or ceo bonuses but we need to create jobs here in the united states of america. he made it very clear and sate it many times during the course of the meeting. it's not about a tax break for the wealthy and he wouldn't get my bipartisan support if it was a tax cut for the wealthy. they are doing just fine right now. maria: yeah, they are doing just fine, congressman reed, let me get you in here because i'm looking at federal income tax data from the tax foundation and in -- in 2014, the bottom 50% of
taxpayers didn't pay much tax, in fact, in 2014 the top 50% of all taxpayers paid 97% of all individual income taxes, how do you really say you are going to cut taxes when you're not talking cutting taxes on the highest earners since they are paying tax. >> being on the committee that's writing the tax code for america for the last seven years, we can do this because the hard-working middle class that's the working part of the 50% that you reference. they are carrying a boat-load of burdens on their back and that's the relief that the president the tapping into it and being one of the early supporters of the president, i appreciate the disruption he represents here in washington, d.c. maria: what about the rate. we are talking with mitch roschelle who is an expert on taxes, frankly. he points out that the top rate, the person who is considered rich is $133,000, making
$133,000. you're going to not cut taxes on the highest earners of 133,000, that's your fireman, your make-up artist. do you think that's the rich? >> no, absolutely not, maria. i'm a proud republican and i will tell you -- maria: how are you academy -- accepting this? >> because the status quo is putting us behind further each and every. we need to unleash america. create the jobs for generations ahead and that's why i came to washington and i tell you that's what what we will continue to -- cutting a deal is not evil. getting 80%, we should learn the lesson, that's victory and not defeat. maria: we want to get a deal done. >> we haven't changed a tax code in america since 1986. the world is very different because of globalization and technology. more than 40% of the people in the united states make less than
50,000 a years. 86 million make less than $75,000 a year. maria: 50% don't pay any tax as a result of that. >> we need to create jobs where people can make a decent wage so they can live the american dream. they can make enough money, they will work hard and play by the rules, make enough money so they can have a place to live, they can have health insurance. that's the key to the future of the country. we need to rebuild the middle creating jobs is the way to do that, a tax reform in america has to be about creating jobs. maria: 100% about creating jobs. why do you e qailt helping the mid toll equating jobs, if you want to see jobs, don't you to make attracting environment for those who create jobs which is the highest earners? >> a lot has to do with corporate tax rate when it comes to creating jobs as well. you're not going to get tax reform in this country if this is about -- helping people that
are already doing just fine. we are losing the middle class in america. middle class in america is falling apart and we need to rebuild it and we are only going to get it done by getting democrats and my colleague tom reed over there and us working together to find common ground -- maria: how come it's been so hard? this is not exactly a new problem? >> people try to block us from having normal conversations. >> i will tell you when you get into the issues of tax reform which we have been looking at for seven years, you have stakeholders, status quo, industry, you have hierarchy of people that are beholding to the existing tax code. breaking that is difficult but we have leadership in problem-solver's caucus. maria: i think you make a good point. tom, you're from new york, congressman reed, are you going to agree to eliminating the deductions on state income, are you going to agree to eliminating the deduction on mortgages? >> i will tell you, those are two key components that are
important to me. maria: no kidding. >> we have to have open mind. >> i've got to be 100% clear -- >> never promise what you'll never do, tom. don't do that on public tv. that's what it's all about. >> i will not support the elimination of state and local income tax. maria: what are you saying souzzy. >> will you be a yes -- maria: now you're adamant that you will not support something. >> tom, if it's in there will you submit a yes regardless of everything else? >> i'm not going to negotiate with you right here. >> that's exactly what we have to do -- between member to member. relationship trust worthy. never say what you will never will do. maria: get a word in. >> we have the highest local property taxes in new york state. we can't afford to get that
deduction. that's a huge donor to the federal government and this is one of the few things that protect our people in new york is state and local income tax deductions. maria: you're not willing to give on that, then. you're saying you want to come across the aisle but only when it comes to raising taxes on the rich. >> i am not going give on that, no. maria: all right. >> i appreciate that tom. this is where we have to negotiate in good faith. what we need to make sure that people respect is we are doing this for the american people and we will work out differences and once we bring people together that's going to unleash the american power of innovation that reform tax code will bring to the table. maria: i totally get it. tax reform is necessary to move the needle in economic growth but if you're not willing to actually cut taxes and you're not going cut taxes for the bulk of people who actually pay most of the taxes, i don't see how it moves the needle. whole point is jobs, the whole point is economic growth. i don't know how it moves the needle. >> we decoupling business and
activity tax, you have a lot americans on pass-through status. as tom just talked about, reducing the corporate rate, that's the heart of american manufacturing, that's heart of american innovation. you reduce the tax burden on those entities, you have an opportunity. maria: specially those pass-throughs, right? >> amen. maria: 15%, is that what you would want 15% on the pass-throughs, tom? >> you know, i'm not going to support a 15% rate but the bottom line in america, let's figure out how we can work together to create jobs for people that are not making it in this country. the reason -- maria: that's a very nice thing to say, but the fact is you were adamant on two points. you are not going support the elimination of deduction and not support 15% corporate tax rate but you want to come together. >> that's right. that's what negotiations are about and that's what we are trying to do is to work together to figure out solution that is will address the real problems
that exist in the country. the president resinated because he spoke to people that were left behind. maria: we just want to know where we stand on things. you are saying i want to support that. we have to move to daca, leaders say they reached with the president, in a statement minority leader nancy pelosi said this, schumer and i had a productive meeting with the president where we worked out to protect nation's dreamers from deportation and we would review security measures that did not include building a wall. the president said the opposite this morning, he's tweeting this, no deal was made last night on daca, massive border security would have to be agreed to in exchange for consent. would be subject to a vote. the wall which is already under construction in form of new renovation will continue to be built. your reaction.
>> i will tell you, being in the room daca and immigration came up, i think what the president is saying, he's still committed to the wall but he's willing to negotiate, that's good-faith negotiations in regard to border security and protecting young men and women protecting by the daca situation. from my perspective that's leading, that's disrupting washington, d.c. and there's a deal to be struck there but at the same time, the wall is going to be a component of any future and immigration debate that goes forward. maria: tom, do you agree with that -- >> the hispanic caucus is pushing for the dream act which is the idea that if you came here under 17 year's old, graduated from high school or have a ged and you're now living a productive life you're either in the military, been working for the past three years, you're going to college, and you have no criminal record, you passed a background check, you should have a path to citizenship in this country and the president said other tweet this morning which he didn't mention, who want to kicked the folks out. maria: real quick, are you going
how much money do you think you'll need in retirement? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement. prudential. bring your challenges. maria: welcome back, we have breaking news again. president trump tweeting this moments ago. i am leaving now for florida to
see our great first responders and to thank the u.s. coast guard, fema, et cetera. a real disaster, much work to do. he and vice president pence will be surveying the destruction left by irma later this morning. this comes as criminal investigation has been launched into the deaths of 8 nursing home residents in hollywood, florida. senior citizens, fox news correspondent phil keaton is live in florida keys with the latest on the investigation. phil, good morning to you. >> good morning, to you, the governor rick scott has now ordererred that that nursing home in hollywood, florida just in between miami and fort lauderdale can no longe accept new i wouerly inhabants. no more news this criminal investigation gets underway. it all hapned, of course, will get mor to that in a second. let's go to the president, the president and the vice president as well as the first lady and vice president pence's wife, they will be flying in later this morning, we expect fort myers international airport and from there they will visit some
emergency operation's managers as well as first responders and then they'll chopper down to naples which has been experiencing great flooding in the wake of the disaster. meanwhile back to the nursing home, about 100 of those patients had been taken out but after the hurricane and the power was lost, that's when it incredibly hot in nursing home and loved ones simply can't believe it. >> i want to know if my sister is not living, they said to find a place for our sister to go. >> back here in key west south of that area, there is an army national guard food distribution center, food and water will be handed out to anybody who drives up because those critical items for life still hard to come by here in the keys. maria: all right, phil, phil keating continues to cover this. not everybody is behind it, of course, cheryl casone with the details, cheryl.
cheryl: lawmakers were close to approving 3 billion in cash payments to foxcon, best known for making iphones, the largest incentive package ever approved in the state of wisconsin, to get all the money foxcon has to guaranty it will create 13,000 jobs and state democrats are questioning whether foxconn will live up to end of the bargain and environmental waiver that is the company are receiving right now. saudi arabia's planned ipo but ramco, the sale may be delayed by a few months, might go 2019. ipo could be the biggest shares sold in history when it happens. unveiling a super car, it's a race car, two seat hybrid, more than 1,000-horsepower, reaches 120 in less than 6 seconds, production expected 2019, yes, $2.7 million to buy the super car.
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maria: welcome back, markets are fractionally lower this morning. take a look at futures indicating a fractional decline for the dow, the nasdaq and the s&p 500. this coming after record high yesterday. investors are watching for washington east response of north korea and harvey's potential impact. i want to bring groups head lisa erikson, thank you so much for joining us. >> thank you. maria: of course, we are talking about u.s. bank management. you have to alo -- allocate capital, how are you allocating today? >> primarily in the developed markets both europe and japan as
well as the u.s. maria: is that because of the backdrop of strong earnings or optimism coming out of washington? >> it's really in the backdrop of fundamentals and when we look at the basis, we see positive macro indicators. when we look at indicators in addition to that they are very boston. when you look at bottom up basis, you have nice earnings coming through and the forecast remain very good for the third quarter. >> now there's talk of people rotating back to them, what's your thoughts on merging market? >> there's positive economic momentum in those markets, it really is a more diverse set of markets. rather than across the board positive view, you need to pick and choose -- >> pick and choose countries or names? >> both, both, be more selective in terms of macro front as well
as names. >> obviously your clients are feeling your advices with questions -- >> yeah, we want to keep close eye on tax reform potential. in general most tax investors being sensitive to taxes, that's something that ongoing basis incorporate in client portfolio. i think there may be upside boost if you continue to see some of the administration come through with policy, but we are not banking on that yet. maria: now you talk with experts like lisa, it's not the reason to buy stocks. it's just extra gravy, if, in fact, it happened. dagen: moving into the third quarter where people realized,
wait, the real engines is the growth and you have the sin sincronized. i worry about long-term interest rates. the yield is still under 2.2% and you have $23 trillion in debt here and you're going to have spending, spending, just to help with the hurricane relief efforts, with that kind of spending and that kind of level of debt, at what point do treasuries selloff. we have been waiting for this to happen for the last ten years, quite frankly. >> yeah, we do believe that looking forward over the long term, you will not expect the same kind of returns of fixed income assets as you got over the past decade and we do expect in some type in the near future, even in december that the fed is going to rate -- hike those rates back up. so there is reason for caution, that being said, we still have
advocating for our clients to remain diversified and not just avoid the fixed income markets. the fed has done a good job on signaling on the markets and keeping its fingers on what's going on with the data and so with all of those factors involved, we are not panicked about what's going on in the fixed income markets and we still want our clients to have a balance in your portfolios. maria: real quick on equities, do you like technology, financials, any groupses, etf's or specific names in. >> yeah, two of our favorite sectors are technology and consumer discretionary. and so you've got secular trends in terms of how the spending habits are moving, some of the move to sftses, for example, and cloud comp outing outing that sd benefit certain companies. maria: would you buy oracle ahead of the numbers tonight?
>> we don't comment ahead. [laughter] maria: lisa great to see you, lisa erikson joining us there. we are breaking down the rising tensions between the kremlin and the u.s. then treasury secretary steven mnuchin weighs in on more potential korean sanctions. >> i worked on an executive order, if theresident wants to us it, we can stop trade with any country that does trade with north korea. maria: more coming up. ♪ ♪ ♪ rd, 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.
welcome back. happy thursday everybody. it is thursday september 14. your top stories right now 7:30 a.m. on the east coast. president trump brings democrats to the table on immigration last night. both sides walked away with different accounts of what happened. present are calling trump calling for border security in exchange for a daca deal. the bold new threat to america and japan as south korea is now unleashing a threat of its own. markets are edging lower this morning.
futures indicating a fractional loss. over in europe little is changed. no major reaction although it's moved into positive territory. in asia overnight markets closed mostly lower. after disappointing readings on industrial activity among others. a firsthand look at her most destruction. police have open an investigation into the death of eight senior citizens in the state. twenty-one and zero the indians extend their record-breaking run.
twenty-one in a row. the longest win streak in american leak history. lebron and his special message to the indians on their hot streak. professional clowns are protesting the new horror movie the blockbuster it. russia has launched wargames today. they clued armored units. over 12,000 troops. the training coding is the rest in russian. that is a code word out there.
100,000 troops are actually participating. and the russians we have elections coming up next year. yes we know who's going to win but he's also doing a lot of things like saying bigger pensions, higher minimum wage. and by the way strong military power. you put all that together and as much more aimed to mystically and set of internationally. they're all going after these things. they are named and looked like they are attacking russia taking them out. it's all theater. let's turn to north korea as we really want to get into this. a serious story because of the missile capabilities and the latest publications. they had threatened to seek japan. the country no longer needs to exist near us.
it went on to say that it would reduce the united states to ashes and darkness for its support of un sanctions. steven mnuchin waited last night. sanctions are on the table for any country doing business with north korea. i worked on an executive order if the president is ready. we can stop trade with any country that does business with north korea. we will be careful in using these tools but the president is committed we will use economic sanctions to bring north korea to the table. >> this comes as south korea does its first draw. what is your take on this. for the market perspective what matters is a u.s. china relationship and the fact that they are willing to push the chinese carter. just yesterday we saw the trump administration and act regulations to stop the chinese from investing in new technology firm in the united
states. the americans have said very clearly under trump these things are linked. the markets won't care. so far this has been a win for trump. but a 150 vote at the security council last week. they are by far harder sanctions than anything we have seen from previous administration under clinton, under bush or under obama. it is going to cost them well over a billion dollars over the next year. they cannot export textiles. north koreans working abroad won't be able to have the same access to money to bring back. those things are meaningful and is squeezing north korea. because of all of the talk
about sanctions on the chinese bank. i said look at how they are the biggest sovereign holder of the u.s. treasury. and do we want to do that. do we want to pay $2,000 for a new telephone. that's i can happen. i don't think we are heading for a trade war but certainly the united states and china needs the u.s. more than the americans need china. if you ask me as we ratchet up small steps not trade war not incinerating that korean peninsula but using some of the tools that we typically display when we engage in diplomacy the americans have more ability to put it in the glove. the real question here as i
can get the north koreans over the hump. i would say the answer is no you seek it out. you see saddam hussein. he really does believe and there's a reason for him to believe that developing a robust nuclear capability that they are helping to ensure the sanctity and the security. have him personally. it also validates his nation because look at neighboring countries that had nukes and they had economies. is it a price of admission to have a robust economy. as a matter of great national pride. under kim jung un the north korean economy has done better under his father. there has been more focus on efficiency. we don't talk about very
much. it's sort of like hard to believe. we don't hear the stories about them eating tree bark to make it through bad harvests. they are very underdeveloped economy they have much more pride do they go far enough to do that. i think the chinese it will be unwilling to cut them off in terms of oil and the russians would certainly be today didn't want to purchase a pay -- precipitate. we are much more willing to do that it doesn't affect us as much. the national interest don't line up in the way that makes north korea solvable. at no point have we given them carrots.
so far the idea of what the north koreans might get if they were to freeze their nuclear program and freeze their ballistic missile development something that's much more reasonable to expect insane that we demand that you get rid of that. we aren't yet really talking to reality. in the ping-pong diplomacy worked with the chinese by don't think but i don't think it will work with north korea. i know they don't want a regime change but like the provocations that he continues. when we feel comfortable that if kim jung un was gone if we could control that. that we would have influence over what a post regime with the click we don't have the intelligence in the access. why would we consider something like that.
even the chinese the fact that they're getting hit by cyber attacks from north korea. the half-brother who was under chinese protection. you are really not happy with this regime. and frankly he is and a lot more to push the south koreans towards the u.s. than trump has done to push south korea towards china. and beijing is deeply dissatisfied with what it's doing to the region. they want to make the u.s. darkness and access. i think sink in japan is hard to physically imagine. the north koreans consistently impressed me with how colorful their propaganda is. he would have to learn for years before he get up to that level. and if we've seen his twitter account over the last couple weeks. he is moving in another
direction. ian, good to have your insight. it potentially ways that sale. no clowning around here. take a look at this. clowns are fighting to restore positive image of their career. [music] 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,
the new policies affect cambodia, they come in they come as a present trump moves against immigrants in the united united states illegally right now. the visa sanctions are the most severe any citizen there in that country that applies to the u.s. tourists visa. the restrictions are going to be lifted in the country if it accepts its deportees. it rose almost 12% in after-hours trading. reports out of the hospital chain looking for strategic options. the stock was up 9%. i had reviewed its options since facing pressure since the largest institutional shareholder. and then there is okay so
clowns here in new york say that the movie it is no joke. a group of personal clowns are planning a rally outside of a movie theater. many of them say they had have cancellations since the film came out is about a clown that turns into a murderous clown. it's interesting that the clowns are going to protest this. they were as scared last year that people were dressing up as clouds. i think that has have an impact on the film a little bit. this has been something that has going on for literally decades about people turning away from clouds because they are frightened by them.
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i nickname lebron james has come up with the baseball game. the cleveland indians progressed to unchartered grounds. gave the indians a three-one lead. no team from the junior circuit had more than 21 games in a row until now. one seasonal news. twenty-first street from lebron james. i might want to trademark that. five more wins and the all-time major league record.
brewers would be the road team. they range between ten and $20. the fans are going to get great seats in the lower level. nfl ratings are up. the season-opening win with 5% higher than last season opening night. twenty-four and a half million viewers. it kicks off tonight in cincinnati. it will host a depleted houston texans team. recovery from concussions including all three tight ends
on the houston texans. sportscenter anchor jamele hill came under fire this week that president donald trump is a white supremacist who has largely surrounded himself with other white supremacist. she tweeted her apology. to address the elephant in the room my comments on twitter express my personal beliefs my regret is that my comments in the public that i made them paint espn and an unfair light. sarah huckabee sanders was ask asked about her tweet regarding the tweet. certainly somethinghat was a fireable offse by espn. >> is there a double standard at espn. the former baseball player and
picture was. >> i was fired because i said that men should use the men rooms to go to the bathroom. conservative opinions. i can tell you i spent two and half years working at espn and one of the first things i was told was you are no longer jeered max you are espn's jeered max. if you go out and have a late-night don't talk about politics and she did. they have got a lot of political in the last year. if they continue to go on i have no choice. it is so sickening for me to even see this. we continue to have to talk
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maria: welcome back thursday morning. i maria bartiromo. thursday comes to work teams. top stories idiom on the east coast. president trump lived in the white house momentarily headed to florida to see the destruction on hurricane, appeared a nursing home or 80 people have died. authorities launching a criminal investigation into what went wrong at the nursing home yesterday. the president reaching across the aisle on immigration. yet in immigration. yet the north senate minority leader chuck schumer and house minority leader later nancy pelosi. especially when it comes to daca in the border wall. we look into it. pushing ahead on tax reform.
republicans moving forward to roll out their plan is the president brings in democrats to reach a deal. treasury secretary stephen mnuchin with the year-end timeline on track. >> we are ready to go. i mop to miss if we look at this time this year. >> this is about creating economic growth, the business system that's competitive. >> taking a closer look at the tax plan unveiled by ted cruz. he will join the straightahead live. markets this morning with major indices all-time high yesterday. the dow industrials up about four points from a fractional move there. s&p, nasdaq fractionally lower. markets under selling pressure as well. bank of england unchanged. down three quarters of a percent now. the cac in paris at the bank of england said interest rates could rise in the coming months. it seems like a comment is
certainly at the lowest morning here. in asia mostly lower with china's economy and markets. disappointing reading on industrial activity among others. equifax playing the blame game now. server vulnerability led to the massive data breach which affect could possibly have put the entire country. the stock trading down again this morning after a massive selloff on that. martin shkreli wakes up behind bars. his bail was revoked after he offered money on facebook for a piece of hillary clinton's hair. the judge is not amused. the company's new mascot going viral for all the wrong reasons. what do you think that could be? all of those stories coming up this morning. you're going to talk about it, fox business network taken the towel and republican presidential candidate hewlett-packard ceo carly c. arena. >> great to be with you. sorry you had to end on that
last note. i wonder who came up with that. about the problem may be. i was in expect dean. >> i am rarely speechless. maria: we have a lot to talk about on tax reform on the legislative calendar and other things, too. when the crackup? dagen: no, i can't wait for your interview at ted cruz spirit drink instead with us because texas senator ted cruz and you don't want to miss that. a big hour ahead ratepayer. let's kick it off right now because president trump is moments away heading to florida as he says no deal has been made on daca. a top democratic lawmakers last night. like berman with the latest.
they meet with first responders and those devastated by hurricane irma. i had to a strip this morning, trying to clarify what may or may not have occurred last night at the white house during his dinner with nancy pelosi and chuck schumer. after the dinner last night, democratic leaders put out a joint statement that they and the president agreed to, and i quote here, ensuring the protection of daca into law quickly. in a lengthy series earlier this morning, no deal was struck, but he did go on to defend those commonly referred to as dreamers. the president said, does anyone want to throw good, educated and accomplished young people a job serving in the military? really? they've been in our country, brought in my parents at a young age, plus big order security. the last are potentially the president outlining a daca and
border security deal. the president also went on to say that he doesn't want to see this wall built. maria: we will watch that because it's a road to scrap a between both sides. joining me now from washington, republican senator ted cruz at texas. it's wonderful to see you. thank you for joining us. >> good morning. always good to be with you. maria: i have your tax principles you've been working so hard on. what is your reaction to the bipartisan outreach? we know they had dinner again last night with nancy pelosi and chuck schumer and came up with a new agreement. >> well, i think it's fine if talking to democrats, whoever he wants. i talked to democrats all the time. what matters is what comes out of it. we hear differing accounts on one hand. but i think people really care about his substance. if we have democrats willing to
help us on tax reform, regulatory reform, economic growth in unleashing jobs, fantastic. that's a great outcome. i have to admit i'm a little skeptical working with these democrats every day have not seen much impact in economic growth or tax reform or regulatory reform. there is no harm in asking, but i wouldn't hold your breath waiting for any real progress. train to this is why this is so important. they do not recognize this is the same group who want him impeached? >> you know, that is hard to dispute. the senate democrats right now are captive of their far left base in their far left base is filled with rage and fury. the 2016 election with hillary clinton in their view was too moderate and they need more bernie sanders, more elizabeth warren. that is today's senate democrats it is hard to see a lot of common ground for the bernie
sanders and elizabeth warren of the senate. to want to do anything on tax reform other than jack up taxes even more and kill even more jobs. there is no middle ground fair unless they make a fairly dramatic move. train to let me ask you about tax reform. this out clearly. growth, simplicity and fairness. i have to start with tax cuts across the board, which we have been hearing about, senator, the president wants to cut taxes on everyone. a report from the federal income tax data and tax foundation says the top 1% paid greater income taxes than the bottom 90% combined. in fact, the top earners pay more than 70% of all of the taxes. and yet, we hear from the democrat. they don't want to cut taxes by a penny on the highest earners. yeah, look on the democrat or
the tax-and-spend and borough party. they support more taxes and more taxes and more taxes as some of them long for the day to 90% top marginal rate. maybe you is that jobs are number one. my top priority is jobs because that's the top priority of the texans i represented the best lover for more jobs in hiring wages is cutting taxes and simplifying taxes. i think every american can you articulate your taxes on a postcard. the 9 billion hours a year we spent in tax compliance is wasted. let me make a very important point that i tried to make yesterday as well. it is important i believe that congress pass a tax cut. not just tax reform. some congressional republicans want this to be what is called revenue neutral. revenue neutral means to be cut taxes here come you check them up over here so the net is zero. maria: which is the border adjustment tax.
>> exactly. that's a mistake. the president said yesterday he wanted a timely beautiful tax cut, the biggest tax cut ever. that's exactly right. we need to cut taxes on individuals, families, small businesses pay that's how we create jobs in the only way to do that they say this is not revenue neutral. this is a tax cut is our priority is jobs. trained to use a scorn and looking over what this looks like, not necessarily be appropriate. why do we have to be married to not impacting the deficit over 10 years? >> the reason for this commend this deals with a procedural rule in the senate. we are facing democratic filibusters on everything. we are trying to figure out how to accomplish our promises to the voters that the democrats filibustering every piece of legislation. the one exception to the filibuster is called budget reconciliation. budget reconciliation we use for tax reform says it has to be budget neutral.
it can affect the deficit outside of the budget window appeared the bush tax cut that they expired in 10 years, the reason is to use reconciliation to pass them so they have to expire at the year the budget window. if it is budget neutral, the tax cut can be permanent. if not they have to expire at the end of the budget window. what i'm arguing for is satisfying, but nothing says the budget window has to be 10 years. we should have a budget window of 20 years or 30 years and if we have tax cuts that expire 30 years from now, that is close enough to permanent. we can be honest we are cutting taxes because we want jobs and economic growth because that the only way to pay down our debt to get our economy turned around to get people working in 30 years from now on congress three decades from now to deal with it. trend do you make a really good
point. if your priority is growth and jobs, economic growth and jobs, you do want to be married to a 10 year deal. you need to make sure you look at longer-term because they can actually say i'm going to make this investment plan and worry that it's going to change in 10 years. i am reading through your ideas. i know you want to simplify, but you are talking about a single flat tax. what would that be? >> i would be my preference that is fair in uniform for everyone. a big standard deduction and everyone pays the same simple way. there is power in bold simplicity. going to the coast guard has power because it small. congress can't stick a whole bunch of extra garbage on it. it means you have a lot of time in your life, a lottery money in your life to take care of your needs. but they mentioned one of the most important ideas yesterday. full expensing.
right now they depreciate those over a number of years. one of the most progrowth tax reforms you can do is immediate expensing. that makes it much easier for a farmer to buy a tractor. if you are steelworker carmen makes easier for the comforter you refer building a steel factory. if you're a truck driver, it's easier to buy a new truck pulling a taxi or cooper. if you want jobs here at home and not just jobs here at home, that manufacturing jobs, blue-collar jobs command the kind of jobs you have calluses in your hand, immediate expensing is powerful. i will note in this debate in washington, much of the debate is influenced other financial services sector and they're important in our economy. expensing is not that big of a deal. maria: smaller company would it impact did. talking to jeff brewer about this earlier and he totally
agrees if i could expand, money goes out the door because i did all of these acquisitions of whatever you just said is a farmer. if i do expensive method of data coming that will allow me to hire more people. i want to know if you are on the same page with your colleagues because there seems to be a white house plan. kevin brady, house ways and means chairman will come out with his new principles on the week of the 25th. but the deduction is sort of cloudy. was he is, what goes? i was talking to democratic congressman and republican congressman in the last hour. there was incredible to me the conversation a laminated why this is such an incredibly tough subject. listen to this. got to get your reaction. >> i will not support elimination of the income tax reduction. we've got the highest in america in new york state and we cannot
afford to get rid of the deduction. new york state is a huge donor to the federal government and this is one of the few things that protects our people. maria: so there you go. would you agree that he would not agree to eliminating those deductions and he would not agree and 50% corporate tax rate? where are we on nonsense? >> there's a lot of disagreement right now. there's no consensus within the house in the senate and the administration has a third view. we have to sit down and come together. that's what it's going to take in the senate. we have 52 republicans. we need to find a plan that can bring together 50. that is going to take some give-and-take. the only way to do it is to have the players at the table, to a concert say what is the heart of what you want? let me give you one more example that will help bring people to
consensus. we ought to repeal dodd-frank is part of tax reform to have a big impact on the economy. trent do it is your party, though. the guys you work with don't want the president to succeed. >> we've got to deliver in our promises. that is what i'm working night and day on. maria: ted cruz, thank you. we will be right back. fidelity -- where smarter investors will always be. and life's beautiful moments.ns get between you 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.
third party for the data breach of the company. train for echo effects those criminals with the data breach with 143 million americans. the equifax company not saying who may have been behind that attack. ceo expected to testify in front of the panel about that breach. the stock is falling more than 30% since the breach was revealed. the premarket almost 1%. president trump blocking the chinese government from buying u.s. chipmaker lattice are. the $1.3 billion deal could risk national security. the clear signal to beijing that washington will oppose takeover deals that involve technology that could jeopardize the nation's security, especially when it comes to the military. about 24% so far this year. denny's is standing by the new sausage mascot.
this phase of its grand slam breakfasts. social media pounced on it saying it looks like something else. i can't show you the truth because they are not appropriate at a clock in the morning. they said they will keep it this way and that's exactly how i sausage looks. i'll send it back to you with that. >> i don't know what to say. >> it looks like it was intentional, it's out her character. maria: that is funny. dagen: it looks exactly like a particular character from south park. maria: we don't know where to go with this, by the way. it is a big week and next week,
the week of the 2050s when they can come you say kevin brady will come out his plan in terms of tax reform. working night and day on this. >> one of the interesting ideas, it's extending the budget window to 30 years. betsy mccoy was talking about making them give. bush is worried about getting done this year. you do believe though moved the needle on economic growth. i agree completely that it's not enough. we have to simplify the tax code dramatically because it is complexity so we need to do
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maria: welcome back. tragedy with 15 marines at camp pendleton were seriously injured in a training exercise yesterday after their vehicle caught fire. another six are listed under serious condition. the cause of the action now under investigation. joining us now, lea gabrielle. >> good morning, maria. this is an assault vehicle being used in an exercise. when you think of our military, one of the reasons we're the strongest in the world is because we can keep our enemies off our shelves and take the
time to the enemy on their shores. one of the ways we do this is by using amphibious assault vehicles that transport troops from the ship to the shore. we see an increase in the incidences where people are big getting killed and badly injured. if you look at what the testimony is on capitol hill, sequestration and the problems it created. it's not getting the training they need to train effectively and safely. we've talked about that a number of times in our show. dream to be really have. the majority in the navy are not to be used.
they cannot actually be used. you've talked about this throughout the campaign. >> absolutely. readiness takes money to the finest fighting force in the world takes money. it's one of the reasons people are so upset with politics. it's been going up a longtime right now and that's why senator mccain consistently yet again said we need to quit playing politics with this issue in from the military. >> four times as many servicemembers have died from training accident than comments. when you look at our military. we have had an all volunteer force. we've been in the longest war our nations history and yet our brave men and women are signing up to serve and protect us and they are not getting what they need. congress needs to fix this
problem at all comes down to planning. maria: where does the money come from? >> it's got a come from congress. they've got to stop using continuing resolutions which makes the military rely on the amount they can plan for the future. i've had leaders pull me aside and want to have off the record conversations because this is something they don't want to project to the enemy. it's clear when you look at people dying in training the way they are right now, noncombat related incident comments clearly a problem and we've got to fix it. maria: matters, mcmaster and john kelly. >> i hope so. it goes back to congress. they need to stop doing this continuing resolutions. maria: thank you. lea gabrielle bair. when they come back, the time on the tax reform. three democrats on the plan. take a closer look at that. boeing streamliner production is taking off.
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and her new mobile wedding business.tte at first, getting paid was tough... until she got quickbooks. now she sends invoices, sees when they've been viewed and-ta-dah-paid twice as fast for free. visit quickbooks-dot-com. maria: welcome back. good there is a everyone. it is thursday september 14 at top stories right now, 8:30 a.m. on the east coast. the joy of the standards, he is headed to florida from hurricane
hermit. he commented on immigration saying that the élan daca will include border security. republicans moving ahead to other plane in the coming weeks as the president brings in democrats to reach a deal. senator ted cruz weighed in on his plan earlier this hour with me. >> a single flat tax that's fair and uniform for everyone as a standard deduction of one eighth the same simple. i think there's power in simplicity. it has power just because it is small and congress can't take a whole bunch of extra garbage on it. you have a lot more time in your life to take care of your needs. >> take a look. dow industrials down a third of a percent. 20 points lower. major indices closed at a record high with futures indicated by the pullback at the opening. the bank of england left
interest rates unchanged, but also warned rates could rise in the coming months. it is down about 1% right now. the cac in paris is out. each overnight, markets mostly lower. after a disappointing ratings on industrial like cavities among other economic reports. martin shkreli waking up behind our spirit is bail revoked for offering them money for a piece of hillary clinton's hair. the judge was not amused. she put them in jail. at&t launching the battle over the new iphone. it unveils a buy one get one free deal. breaking from star selena gomez. she revealed she had a kidney transplant and we'll tell you who her daughter was. the gop's big push. the coming weeks as the president reaches democrats to seal the deal. texas senator ted cruz told me
his thoughts on the president's coalition building on tax reform. >> what i think people really care about his substance. if we had democrats who are willing to help us on tax reform, regulatory reform, economic growth and unleashing jobs in the fantastic event is a great outcome. i have to admit i'm skeptical working with senate democrats every day. i have not seen much interest in jobs or economic growth or tax reform or regulatory reform. but there is no harm in asking. i wouldn't hold your breath. maria: there you go. carly fiorina is with us this morning. >> let me say, ted cruz has been saying the exact same things about tax reform for almost five years. he's been talking about radical simplicity and i absolutely agree with him that a reduction in rate in simplicity are key. the issue with president trump talking to democrats, the issue is what does president trump
actually believe? what is the actually want? are their principles in a framework for the deal. that's the question about immigration. what is the deal he's willing to do. he's been very clear what the american people. i'm a dealmaker and i'm willing to be flexible in my principles and unpredictable in my approach in order to get the deal. certain principles matter, tax cut matters and i'm suspicious as is ted cruz democrats will play with principles because honestly what they want is more and they lean to the left and more government customer money. >> they keep saying they don't want to cut taxes a 1 penny for the highest earners at multiple times this morning the highest earners pay all the taxes. are you really cutting taxes?
>> with a high earner? if you're a couple in manhattan with a couple kids intimate $250,000, you are a high earner. maybe you don't feel like a high earner. maria: you have the numbers here in terms of what the top rate would be considered rich. >> the top 10% of taxpayers, the last dollar of income is $133,000. maria: there you go. >> that union workers, middle america. >> remember when president trump did an interview and he made the throwaway comment about my rich friends tommy they be happy to pay more in taxes. but when you are talking about your rich friend, you are not talking about people who are
earning less than $134,000 a year. you keep saying this over and over again. the way my brain works is if you cut these rates because we have a progressive tax system, you cut all the lower rates. he's talking about the rich pay the same if not more. well, they get a tax break by all those lower rates dropping because the first dollars they earned are taxed at those lower rates. so what are you saying? if you make sure the wealthy continue to pay the same they've been paying, you will have to raise the top rate to offset the cuts you have. >> there's three key principles than they matter. number one, complexity is killing us. the complexity makes economic growth harder in the complexity
of favors donald trumps rich friends. complexity always favors rich people over not so rich old. the companies in which people hire accountants and lawyers to get through the 76,000 pages. second, tax rates are uncompetitive. they're uncompetitive on businesses, middle class in particular needs my money in their own pocket. we don't need to give the federal government more money. we have to cover it, how can simplicity and fairness. those principles actually matter. the promising bipartisan talks if maybe there is something in a package that everybody can agree on. the peril in this bipartisan talks is without a firm grasp of the principles you have to have in order to agree to a deal, any deal is okay. train to what he think he's
doing? is this you want him impeached? maria: they called his cabinet. chuck schumer was all over this one cabinet. >> donald trump have hurled insults for months and months and now they are saying we are just getting them may be the only way to get a deal done in washington now they say let's get down and dirty and see what we can get done. i think it is why people are nervous about the outline, the foundation, principles of the deal and tax reform is the single most important thing we can get done to get this economy really going. maria: is this giving a message to the gop? you couldn't cross the finish line on health care, all of the stuff i've pushed for. i'm going to the democrats. >> and there's nothing wrong with that. one of the principal reasons
donald trump got arrested is i'm sick of politics. but they expect results. >> they expect certain result. the democrat solution to fixing obamacare will be a much bigger step towards single-payer. medicare for all, are his supporters trump supporters going to back back? again, the democrats really want the rich to pay more in taxes beyond what they already pay. is he going to get on board with that? his supporters are turning against him when it comes to immigration. train to let's talk about this. the president is speaking out. he felt. he spoke as he left the white house moments ago on immigration. let listen to this. >> well, we are working on a plan getting massive voter
control. we are working on a plan. people want to see that happen. 800,000 young people brought here through no fault of their own. we are going to get it security as part of that. >> congresswoman nancy pelosi issued a new statement but we agreed the president would support daca protection to border security. so she just put out that tweaked right now. walking back their initial trade that sent me to do with the president that does include the border wall. right there, they just expose themselves that they came out of the white house meeting and they lied and put out a treat they said we did a president. they have to lock it back.
>> i'm shocked to democrats who deal in this way. no one would she be surprised by this. it is also true that now people are wondering, what kind of deal is he going to do on immigration? i didn't hear him talk about a wall. you and i have had this conversation. massive border security doesn't necessarily put a 3000-mile wall. that's not what he said now was supporters think they heard from him in the results he promised to deliver to them. i am not at all surprised that democrats are trying to use this mode to their maximum advantage. president trump is a deal maker should understand as he walks into more deals at the democrats, do not give them more leverage than they are to have. they have massive leverage on daca because it's an emotional issue that tugs at people's heartstrings and they will use that leverage to the maximum
extent. maria: i seem to remember the crocodile tears a couple months ago from chuck schumer. remember about one when his whole idea and deportation came out. trade to trump the supporting for the dreamers. we've gone over them several times in retreating with this statement who doesn't want trump impeached. again, she has been a strong supporter of his and not right now she is not. trade to its impact in his base with all of this. people wonder what this means for the economic agenda and that's why he was voted in. people believe he could actually move the needle on jobs. >> and move the needle on immigration. you and i have this conversation. ideas are great, talking about solar power for the wall. ideas are great, results are better.
now, people are waiting to see result. what is the deal? what are the results? trade to where is this bill? we know what they are trying to achieve. where is the bill? >> is nothing better than something at the something comes from breaking bread with nancy pelosi and chuck schumer appeared on raise that issue. fixing obamacare, targeting the tax code because if you work with those democrats, you will mind up with a tax code that is much more progressive. >> they have been clear about differences. very clear and very consistent. trade to president trump reaches across the iowa senate minority leader chuck schumer and house minority leader nancy pelosi. the river and he thing to say about that. he will weigh in. selena gomez reveals she underwent a kidney transplant
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>> at&t gearing up for the launch of the new iphone to the new york stock exchange with nicole petallides. >> good morning, maria. the iphone has been launched. everyone waiting, whether you want the aid, or the time. all the carriers are coming out with their deal. they really actually got too many deals. at&t has fired the first bullet here. buy one, get one free, but there is a tax. you have to also subscribe to their service. take a look at t-mobile and at&t all doing this morning.
they will give you arise than 300 were you sign up for the unlimited plan. at&t, just told you about that. sprint is giving you half off the lease with the trade-in of the senate. you probably can wail and dealing and get some sort deal on this. big news i'm going today. the pentagon saying they were 600 million-dollar contract. air force one going to design and work on 2747 aircraft used for the next air force one as well as the output to 14 from 12 of the jury minors. now 4000 square feet of private quarters for the president as well any dock their onboard. >> let's turn to the white house in a show of bipartisanship he
president trump continues to negotiate with democrats. the commander-in-chief posted house minority leader's very chuck shimer, my nancy pelosi discussed dhaka in border security. now the host of "varney & company," stuart varney. >> i think we see the beginnings of something that could have historic implications for politics. this actually started on september 6. the president is listening to the leaders of the republican party and the democratic party and they are arguing for about 45 minutes about the debt ceiling. along the president says enough already. the three months. deal done. republicans win, that was the start of the realignment of politics, where the president shifted the way he could get the votes to get something done. the implications are not exactly profound, but important. we heard yesterday that the
president might actually end up having richer people pay even more than they pay now. that is a revolution. that's completely opposite from the promises made from the election campaign. why is he doing this? republicans do not have the votes to get done what they want to get done. results are realignment of politics where we see some real action. this is extremely important. train due to me it looks like the republicans are the losers in all of this. >> definitely. not the governing party they were supposed to be that completely divided and their division has opened the door to democrats. they were the whole idea of obamacare reform and now they're in the process of dropping the ball on tax reform as well. to save the disgrace is far too long. you know i'm coming from. trade to see you in about 10
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maria: now this breaking news. cheryl casone with the details. she had the procedure done over the summer. and get this, her best friend, television actress was the donor. the instagram post includes a picture of gomez holding hands while laying side-by-side at the hospital bed. the surgery was necessary because the whole mess trouble with lupus. martin shkreli violated his bail on security fraud conviction.
they revoked after a $5000 reward on facebook to anyone that could bring him a strand of hillary clinton's hair. shkreli's attorney argued it wasn't the best political satire. but the government claims it is a danger to the public. we should say the fraud case in january. for my white house press secretary sean spicer making his first television appearance since the trump administration. he was on jamaica and the lithe and took several shots at the price. >> they need to understand when a member of the press corps crosses the line, they have a responsibility and i've never seen a group of individuals to protect themselves. they always have an excuse for why that story we were going to correct it in there is never an admission of guilt.
the healthier press corps we have, the better democracy we have. they want to undermine her attempt to have a concert to dialogue. it's a two-way street. don't lump every republican and conservative into the same box. cheryl: there were some funny moments but that was the most intriguing part of the interview. trade to he got right to it. your reaction to all of that. >> it's very hard to argue and i think sometimes what journalists filtered knowledge of the obvious. they are not just reporting the story. they are shaping the story. it is also true that they fail to acknowledge while they get all high and mighty about independent journalism, it is a
business. the media's business. a business requires revenue and advertisers in controversy. conflict. you know, sensational headlines. so i think it would just help if sometimes people in the media would realize we are under pressure, too. maria: let's face it. the republicans talking about all of this health care tax getting done. the democrats fighting over taxes. it's more than the media. maria: of course. the reason all of us are tired of politics and politicians is because nothing gets done. what we find out again and again and i find out on the campaign trail --
stuart: maria, thank you very much, indeed. a see change in politics. the center takes charge and it is the president who is running that show. good morning, everyone, president trump holds high-level meetings with democrats. the republicans don't have the votes to pass growth agenda. he's moving rapidly to the center putting out the red carpets of moderates of both parties. last night it was democrat leadership, chuck schumer and nancy pelosi, they came over for leader. republican leadership was not invited. this is a