tv Making Money With Charles Payne FOX Business September 26, 2017 6:00pm-7:00pm EDT
liz: polls closing in about an hour for the special election in alabama. we'll be all over that story. charles payne is here with "making money." charles: dysfunction on capitol hill as senate republicans decide not to hold a vote on repealing obamacare. president trump vowing to deliver a major thanks cut. he will release details tomorrow that will slash the corporate rate and simplify our tax code. reporter: it's important to point out that a lot of
republicans. so here we are on the eve of tax reform because tomorrow we'll get the official details. expect the details to be confirmed starting at 11:00 a.m. tomorrow. we'll get a sense of what we can expect because of things that have been set since april when the trump administration outlined where they wanted to go. a middle class thanks cut and a republican blueprint for tax reform which was about simplifying taxes so you can fill out your tax returns on something the size of postcard. here is what mitch mcconnell said about the need to do this now. >> we think it's time to turn to our twin priority. reform the tax code. we reached significant agreements to go forward and i'm
optimistic we'll achieve that. reporter: speaker paul ryan is talking about thanks reform as well and where we stand heading into tomorrow. >> we are frustrated the senate has not acted on a seminal promise, healthcare. obamacare is collapsing. but tax reform is the most of important thing we can do to restore confidence to this country and get jobs and prosperity. that's why we are so singularly focused on getting this done this year. reporter: what is the corporate thanks rate going to be? the president said he would ideally like it at 50%. and the chairman of the house ways and means committee said it would be between 20-25%.
237 so we'll be looking for the official corporate tax rate. but look at the range wage. you will hear paul ryan say thanks reform this year. you will hear kevin brady say thanks reform this year. you will hear senator orin hatch say thanks reform this year. one person you need to hear it from is mitch mcconnell. so far all he said is tax reform this congress. pay attention to leader mcconnell's comments tomorrow. if he says this congress, don't hold your breath for tax reform this year. charles: joining me deneen borelli and tammy bruce. the wish list.
let's talk about the gop wish list. 0% corporate rate. $12,000 standard deduction. rye peel the estate thanks. lower top rate from 39.6 to 35%. how are you going to get it done? >> as you have already heard, i don't think mitch mcconnell is interested in having this goat way the president wants it to go. this has been my concern from the beginning. the never trump dynamic. the democrats will argue the death tax and every other element they will argue will benefit the wealthy. but my concern is the elimination of charitable deductions, caps on your deductions in general on your 1040. those nail the small businesses.
charles: how do wealthy people not take advantage of that. listen. i know it's everyone's top rye other. someone said it's twin priorities. you had three strikes in healthcare. as much as we know everyone wants this done, i'm not sure it's going to get done. >> mitch mcconnell and paul ryan are such a big disappointment. the four of us combined to go to d.c. and do a better job. the wish list will be great for economic growth. cut the corporate tax rate. put more money in the hands of families so they can expand and grow and increase wages as well. they need to do something
clearly. charles: from a businessman's perspective i would suspect the lower corporate tax rate, 20%. president trump would love to see 15%. is 20% or 25% low enough to trigger economic growth in this country? >> absolutely. and it's great to have you back. any kind of tax cut to businesses is meaningful and that's still a pretty big number. so you have this economic growth that's happening. i think that that kinds of number, even that range would add to the momentum at a time when we are considerably when you look back historically at the peak of this recovery period, it can extend the recovery. getting back to that one point your panel talked about, the way to get this done is to focus
upon what everyone wants, which is the middle class it's something republicans are smart and focusing on, and that's where you make the argument, cutting for the middle class. >> some of these issues target the middle class. you are talking about elimination of the mortgage interest. capping deductions. the more money people have in their pockets the more they give to charity. if you cap that this has a negative impact on the poor. these are things i wouldn't put past the establishment putting in this bill. president trump has got the remain very involved to make sure those things don't happen. charles: what about the idea that it has to have a revenue true tralt to it -- revenue neutrality.
every republican talks about the reagan economic boom but so few of them embrace supply side economics. why don't they see the more money corporations keep, the more jobs they create. the more money consumers keep, the more they spend. >> they are not business people. many of the people in congress, they have never run a business. they have no idea. they don't understand what goes through a ceo's minds when he has extra cash to be able to invest. this is a great time for ceos to speak up. charles: but these big ceos tried to pawn off a border adjustment tax. are you confident it will happen this year? tammy: not at all.
normally there is reasons to be optimistic. in this case it's the nature of the beat to not get something done combined their loathing of president trump. i don't expect to get done this year. >> i agree, they haven't accomplished anything and americans are not happy about it. tammy: we are already at the end of september. charles: thank you all have much. the crisis in puerto rico has left almost half the residents without power, food and medicine. we'll hear from the coast guard admiral leading those relief efforts. we'll be right back. what did we do before phones?
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charles: puerto rico is spiraling into a complete humanitarian crisis. admiral browrn, thanks for joining us. >> thank you for the opportunity to give you an update. one of pour main efforts the past week has bent restoration of the ports of puerto rico, the very jim islands. and i can report we have done a remarkable job together with the army corps of engineers and local port authorities in opening 40s, about half the ports of puerto rico and ports? st. john, st. thomas and the virgin islands.
i can report tonight that the port of san juan which has previously been open for daylight operations is open with restriction. all the port facilities reported they are capable of nighttime operations. charles: already in america this whole crisis is being politicized. some calling it donald trump's katrina. donald trump has been active speaking to the media trying to reassure people we are doing everything we can to help our citizens in puerto rico. but also reminding them of the unique challenges of it being an island. >> if you look at the response to hurricane irma. key west is connected by roadway. once it was confirmed that roadway was intact, all times of relief effort could be driven
from elsewhere in florida towards the florida keys. in the case of puerto rico and the require gin islands we are talk about islands 1,000 miles by air and sea. the airplanes may be ♪genic. but it will have to happen by sea. that's why we have been focused on restoring the ports. we have ports open in san juan and the key industrial ports on the coast of puerto rico as well. >> one thing if i can add. there have been fuel deliveries to puerto rico and millions of barrel of fuel, deals, gasoline and natural gas on the way. charts * thank you. appreciate it.
i want to bring in our washington examiner commentary writer to discuss the crisis. we started the day with president trump tweeting about puerto rico. there was criticism that he was spending too much time on the nfl then progressive media took up the talking point this is a katrina. >> it's way too early to say this is president trump's katrina. senator rubio said he's concerned it could become katrina. but it's possible if enough attention isn't devote in the coming days in containing this awful tragedy. it may have the potential to. but the governor puerto rico said he's gone the everything he needed from the trump administration. others have echoed that.
unless people can couple with things president trump should have been doing that the governor didn't mention, it's silly. charles: the daily beast said this is sort of a symbol of president trump's dislike for brown and black people. every issue in our country becomes all about race. and the real race here is the race against the clock to save these folks. >> that's so remarkably koirnlts productive. it's completely offensive and koirnlts productive and distracts. but a distraction. charles: i hope people read this article after my show of course. scandal and corruption at the
charles: four ncaa assistant basketball coaches were arrested, charged in an elaborate scandal. allegations allegedly they took thousands of dollars in bribes to steer star athletes towards specific agents. you know, this kind of stuff has sort of been well known to be quite frank with you. the legend of sonny barcaro
taking the kids in the 70s and giving them sneakers. when it blows up in front of the world we say golly, we can't believe. it was sort of accepted for so long. >> this is a major criminal case that has been prosecuted by the justice department and the fbi using the high-level sophistication tools you see in organized crime case. when the feds chipped away at it they saw a broad web of fraud and deceit. you see envelopes of cash being passed in hotel rooms in las vegas, and meetings at mad and a square gardens before games. there are no age protections embed in the neighbor. in the nfl you have ruled that provide an age cap. no one can go into the nfl until
three years after they graduate from high school. this is rife in basketball. charles: people say perhaps if you paid these college kids something they would be less susceptible to taking money from these nefarious folks who seem to linker around in the playgrounds and neighborhoods throughout their college careers. >> a lot of these universities make a lot of money off these athletes. many people would say they get a free education it's not a free education. they work for their education. a lot of these kids can't even eat. my brother is an athlete and there are a lot of things ear of every day american citizens don't know. a lot of these young brothers come in out of poverty and can
barely eat but the university is making millions on the jerseys and the game. if you are a capitalist and you believe in the free market, then why not pay the kids. charles: some people are saying they are being paid. big men on campus are usually the athletes being paid under the table. >> that's correct and they shouldn't be paid under the table. i'm not advocating for anyone to break the law. but there are some of the kids who do it the right way and have parents who guide them and say we are not going to do it this way. that's why you see the alonzo balls of the world and say we are going to take the future of our kids and not depend on these agents. these managers and acts are doing back-door deals and companies to get the stuff under the table.
charles: in my childhood i grew up with two different cultures, i understand that kneeling controversy from both sides, i was an arm brat, and at the movies, i was kicked out of the theater for talking during the national anthem, i had to tell my father, he took it very seriously. i see how violence and poverty leaves a chip on your shoulder, athletes are not helping their causes, they are turning away millions of potential allies. the stars and stripes, fractional an -- and national anthem are symbols of our freedom and all americans. with me now to discuss. sports agent, founder rosen house sports reparation, drew thank you for joining us.
>> you're welcome. charles: last night dallas cowboys knelt before the national anthem, and other team locked hands, and the crowd booed. are they going about this the wrong way. >> well, many fans just want to watch sports, they don't want to see politics or activism or social statements, this is america, people agree to disagree. with what is beautiful about our country not everyone will agree with some things that are happening in the nfl. and a lot of people including myself, don't agree with a lot of things that donald trump is saying about national football league. there are two sides. it does not make any on other side an s.o.b., that is what upsets me the most. charles: is that a disingenuous
side bar about this, the guys who go to practice, and they are called s.o.b.s, they miss a hand off, they are now to brittle to handle that criticism. >> this is a huge issue that president of united states has odhassed on -- odd asty to label them. charles: if he did not use that term would you have been more accepting of the overarching theme, of people buying disrespectful for those who die protecting this country those fans who want to see a game without any political views imposed on them. >> not a single nfl player has indicate they are kneeling to be disrespectful to military, to the flag to the anthem or
principles of united states of america. what particularly angered many nfl players, was that donald trump single them out. charles: okay. >> said they were s.o.b.s, they should be fired that is ridiculous. charles: all right, drew, i'm going to move. >> go right ahead. charles: i appreciate it, i want you to come back. but right now, i want to bring in another guest, i was hoping to get you on together, you have to take him separately, i appreciate your passion, i have retired army lieutenant colonel allen west, former florida congressman, colonel west, i am not sure if you were able to hear, that the sports world as least as represented by one of top sports agents in country saying, that this is now all about president trump calling the athlete a name. >> yeah, good to be back with you. charles, thank you. yeah, i thought that it was about protest and police violence that is how it got started with collin kaepernick.
really when you think about it, last year there were 16 white police officers, shootings of black males, in the united states of america. but yet in city of chicago, you had over 700 black on black murders. and if you look at totality across u.s. of america you have 2000 black on black murders, real, where should emphasis be? i will agree with your previous guest that president interjected himself mark making him the center of protest. you think about why the national anthem of written, soldiers were inside of fort mchenry, while the british were outside trying to take down the american flag, i can't see anyone saying that they are sitting down or on the knee while playing national anthem, that is disrespectful to
those inside of fort mchenry, and frances scott key who saw the shelling of that bombardment. charles: why do we go from here, i suspect come sunday we're not going to see same wide group protest, i am sure that league made its point or counter point to president trump. how can we stop yelling at each another and talk to each other, turn this to something constructive. >> i have to tell you, i believe that rodger goodell has lost control of the national football league. and maybe he should be side so step down, i know there is a person out there by name of condoleezza rice said here dream job all become the commission of of nfl, she sits on selection board of college football play-off, we have problems be we have hypocrisies, that are out there in the national football league that go bo beyond this case, you may need too get new leader shin ileadership in the .
charles: i just finished condoleezza rice's book, "democracy," i recommend it to everyone, colonel thank you very much. >> my pleasure. charles: dow industrials down for 4 straight days, don't be afraid, consumer confidence was down, but the silver lining is what is going to make you feel better, i'll break it down for you next. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.
charles: reporting that sonic drive in acknowledged a brief that could potentially lead on a fire cell of millions of credit and debit cards, we'll be right back. across the state. new roads and bridges. new mass transit. new business friendly environment. new lower taxes. and new university partnerships
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micron reporting they crushed it beat on concensus, revenue, earnings, gross margins improved. during the session momentum darlings they put the brakes on a slide, you can tell how they closed. on other hand apple actually enjoyed a late spurt after pointing to component cost for iphone 8 ands 8 and 8 plus that suggest that margins should expand. >> there is great narratives, i like what i am seeing, they correlate to the u.s. economy. i have talked about need for transportation, like truckers as hunt, robinson, closed at a new time high, russell 2000 remains hot. for trump voters these are companies that best correlate to domestic economy. like transportation, names small
caps spent better part of the year watching major indices source, this rotation has been a long time coming, i believe it will continue, s&p industrials close at a new all-time high, all part of the domestic economy. some help maybe we hear news of repatriation of overseas taxes. the most encouraging news was in consumer confidence, resolve and optimism continue to be elevated. there was a dip in confidence in texas and florida, i suspect that will be short lived, joining me now mayor buddy dyer from orlando, and teresa jenkins from orange county. it is not going to be down long, florida is making a comeback. >> it is, orlando, we're in center of state, we were
actually point for national guard spoons for florida. and we're working on right now is picking up left over storm degree, we're on the come back. and one thing you can see about orlando, we're on a roll. charles: can we use that term, open for business? >> we're open for business. charles: mayor buddy, same for you, you see this instance come back, the result as we went outside of the stace state was remarkable, it looked like you came out. >> the state as a whole back to whether jeb bush was governor has been really good in emergency response. in orlando, orange county, we have rasratcheted that up, i wao cortoconcede we did not take a t
hit as some other parts of the state. we're back and open for business. charles: home prices are back, economy is coming back. washington d.c. disfunction has a lot of folks worried. how concerned are you, we get tax roll out tomorrow, how critical is that federal government gets it right for local governments. >> i can tell you as a citizen, i am concerned about what hatches in washington almost -- happens in washington almost more than i am as mayor. we do a lot of local level and state level, we just keep marching, we look at disfunction. and partisan divide, yet mayor buddy dyer is a democrat and i am a republican, the things we decide to make happen in orlando
we get them done. >> you agree? >> absolutely. i think we have created a formula in orlando that we have a culture of collaboration. charles: can you export that to the rest of the country or washington, d.c. >> we would like to be a example, a lot of things don't get done on federal level, even state level, people look for local officials to lead, from public safety to climate change. charles: mayors, thank you so much for joining us. >> absolutely, thank you. charles: always great to get this news of resolve and american success, i think it will is infection shouse for ern walks. >> thank you. charles: construct of prototype has gun on the border wall, we'll take you there live right after a short break. think your large cap equity fund
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charles: construct of prototype for the border wall started today in san diego, six companies. this is most visible step so far toward president trump's long promised border wall. adam housely is live at the construction area in san diego. reporter: about two years since he made that big statement, he said he was run for president. and now, it is coming to fruition or beginning that process you talked about. 30 days long, beginning today, six companies putting up eight different prototypes have 30 full days to get completed they will be inspected. you can see trucks coming in and out for last few weeks, they widened roads. the area itself is about a half acre, and a fence for privacy,
border patrol agents, say nobody what it is -- no matter what it is, they believe this is a positive step. >> whether it is brick, mortar, or aerial something needing to put in place. reporter: six different companies, four there today had. thought process they may come in last minute put them in place as to not give them away, had is a competition. there is significant opposition to this, not only state of california that filed a lawsuit last week, those in favor of immigrant rights and environmental rights. >> this case, dhs is going forward with prototype and border wall replacement without giving lip service to the environmental protection.
reporter: as for the actual design, they have not given us a lot of information, this is a competition. there is a chance that border control could choose none of the above in 30 days, or they could choose all of the above, there is a lot of topography on the border, have you mountains, rivers and habitat. taking that into ir account, thy tell me, they want it to work with new technology and be able to evolve with new technology. we saw one of those digital walls go up about 5 years ago that did not do well, they hope maybe to add that with this more you know permanent walls. >> one word for you, drones. reporter: we have seen them here. charles: all right. reporter: they are here. charles: okay. thank you very much adam housely. >> all right.
charles: panel is joining me now to discuss this further. back with us tammy bruce as well,. i start with you, we have prototypes going up, it is getting kind of exciting here. it may come to fruition. >> purpose that border patrol -- it is important that border patrol be involved. in that area, the border patrol is used to rock attacks. you have basically people coming in to the country, that cut through the fence they climb over the fence, there are landing mats on mexican side of border they breakthrough, border patrol agents need visibility to establish where people are coming from. some of them again, they throw rocks over. creating real threats to the life and limb of the people who protect our border. this a essential process coming up with a wall that fits and
works well. charles: another essential part is the funding. we talked about republican not getting their act together on healthcare attacks reform, who knows -- tax reform, who knows. $1.6 billion to kick-start this is a problem. >> it has, everything with that donald trump want then all of a sudden republicans care about deficit. this money, there is ways to find this. at same time, i think what is important is that psychological difference. that is very exciting, liberals should be upset, he might not be tweeting about this. liberal rely on what trump is tweeting, many thing are moving forward, i think it would have an impact on what congress says and thinks about funding for these, and dhs said there will be likely violence, because of opposition groups. at the site, that is important
for americans to see this kind of movement there at that point. >> that is unbelievable. >> remarkable dynamic, i think that president and congress will realize, that must be done, and that our national security can't be reversed because of thugs at the border. >> my only point, we talk about walls all of the time, i am struck liberals don't explain with clarity, why are they opposed to a border wall, they are for bridges that is not a rationale, if a democrat can get a clearanc clear -- clear answey oppose a wall, i will be impressed. charles: this is a security and an economic argument they cannot argue against, that is why you don't hear it. >> thank you very much. >> thank you. charles: rogue regime. threatening to take own action, we have those details, next. fortunate enough to travel to many interesting places.
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charles: breaking news, commerce department slapping preliminary subsidy duties on c-series jet after boeing argued when was -- >> u.n. slapping sanctions on north korean banks. united states taking its act just hours after north korea reportedly boosted defenses after u.s. bombers, after some u.s. bombers flew near the peninsula. retired colonel allen west is back with me, and senior 23e8 s. north korea moving military components to move in position to shoot down our planes. >> they doc they could do that i
don't think their capabilities are great but they could get lucky, you never know. charles: is that a clear act of war? >> well, i suppose it would if they did that. we're in international airspace, they claim we declared war, which trump has scared no said e not. it would be a clear violation of international law. charles: colonel, it feels like we're not going to be able to jawbone them into any submission, diplomatic effort continue to fall short. what are our options at-this-point? >> i think we're have to look at that military deterrent, a credible one, i think one thing to look at is a blockade on north korea. you know the chinese are not going to help us. missile eare chinese-made, i think that we had in persian
gulf, when we have been threatened, with aggression act of iranians kim jong-un believes he is do the same thing, to get to point you talked about there has been an act of war, when you fire a missile over a another sovereign nation, that is an act of war, united nations should see it as such. charles: i want to ask, there was interview with otto warmbier's parents this morning. >> we see north korea claims to be a victim. and that the world is picking on them. we're here to tell you, north korea is not a victim, they are terrorists, they kidnapped otto, they toreture ththey or -- tortd intentionally injured him, they are terrorists. it was astounding to cindy and i have discover that north korea is not listed as a state
responses or of terror. charles: should they be listed as a state sponsor of terror. >> they could be, i don't think that chinaing help us out, i don't think that any shantions are going -- sanctions are going to do anything. this list has been political. we took the north korean off for political reasons, in 2008 time frame. trying to do aid for disarmament. that did not work. it has been a political list. i don't think that it really qualify understate department qualification, which you have to have repeated indents of terrorism but you know, like i say it has been politics as been
involved. >> i think that colonel's point, they are launching missiles over sovereign nations. thank you very much, here is lou dobbs. lou: good evening, nfl understands one them today, more clearly. if they thought there was a president in our white house who lead from behind and ran from fights they are no longer under such illusion, this president meaners what he said, will not tolerate disrespect for our can anthem and flag. >> i was not re-occupied. i was ashamed. that is a very important moment, i don't think you should disrespect our flag and national anthem, to me nfl is very