tv Bulls Bears FOX Business October 15, 2017 2:00am-2:31am EDT
>> todd: have a great day, everybody. >> president trump: the iran deal was one of the worst and most one-sided transactions the united states has ever entered. we cannot and will not make this certification. we will not continue down a path whose predictable conclusion is more violence, more terror, and the very real threat of iran's nuclear breakout. >> dagen: president trump saying not so fast on the iran nuclear deal. he's kicking it to congress telling them to toughen it up or he will tear it up. several world leaders are concerned by the move but gary b. smith says it's the right long term move for our safety
and our economy. hi everybody i'm dagen mcdowell this is bulls & bears. along with gary b. smith the bulls & bears this week, jonas and john layfield along with jessica tarlove. welcome to everybody. gary b., you like the president 's decision. i think it's a great move, dagen look, the deal was never, and we discussed this, you know, quite a few times on the show. it was never a good deal, at best it only delayed their development of nuclear weapons, and even though they didn't claim they were developing weapons of nuclear enrichment at a very minimum and gave them a pile of money. look, i think what president trump is trying to do, he's already seeing pickle that we have now with north korea. he is looking to prevent the next north korea. the other nations are not worried about it and that's fine , but we are so what he's doing is ensuring our future safety. that's good for us, it's good for the world, it's a smart move
>> dagen: and john what it did do was funnel money and business , $1.7 billion in cash to iran still a state sponsor of terrorism. >> john: yeah, it can and look gary b. and i were adimate about this in 2015 before the deal was signed this was a terrible deal. i agree with the president. it took 35 years to get sanctions on iran to actually bring them to the negotiating table. the toothpaste is out of the tube at this point. we are not going to get those sanctions put back in place and here is the problem. this is a legal binding agreement and what the president has done is issued not a rejection so it's up to the congress now to decide what they want to do, but the president right now is acting unilaterally you had the secretary of defense mattis, secretary of state tillerson, germany, england, and france all has said they want to stay in this deal. it's a dangerous precedent because they've not violated any sanctions even though there's speculation, it's a dangerous precedent to violate a legally
signed document just because your predecessor did it and you don't like it on though it's a bad deal. >> dagen: but is it nor dangerous to john's point funnel money and business which europe does not want this to go away because of all of the business deals that have been inked to funnel that money to iran when essentially the restrictions on nuclear development fall way after 10 years. >> you hit it right on the head not to mention it doesn't include the ballistic missile program that they can develop, and honestly speaking when you think about sunset of 10 years, i mean do you really have a deal when you gave them $150 billion access to $150 billion which they can create an environment to continue to destabilize the region? i'm lock step, i'm in lock step agreement with president trump on his decision. the only issue i think is it doesn't seem as though the team is in lock step agreement with president trump on this the number for instance tillerson talking about general mattis as
well. we need a better deal and president trump did the right thing in terms of kicking this back to congress to put some new real teeth in this and triggers that will allow for if they violate their agreement we can tut those sanctions right back on them. >> dagen: secretary of state tillerson, secretary of defense mattis, jeff, but i'll point to the these european nations. you want to do a business with a $400 billion economy that's iran or $19 trillion economy the united states take your pick. >> they obvious obviously choose us over iran but i can do that simple math for sure but i don't think it's going to get to that. i totally understand what the president did today and he also needed a win. he needed something to make him feel good and he was keeping to a promise. he had his executive order on obamacare as well this week but that's a whole other topic also not happy about that but i think it is really important to consider the views of his team here. he picked the best of the best certainly in the military brass
he brought on is also his army chiefs of staff right? who say that we should stay in the deal as it is and that they are complying and that's something the president went out there and lied to the american people about. he says that iran was violating the deal and the way he was saying it also was like in fat fake news he said oh, may in you've heard they're violating it. >> dagen: i'll pushback on that that he said they're violating the essence of the deal and what they are doing is continuing to fund terror in the spirit of the deal continuing to fund terrorism, the military sites are completely off limits to nuclear inspectors. >> they have moreover site of their program than we would have ever have access to and to the 1.7 billion-- >> dagen: and they continue to test missiles. >> and continue to hate israel and america and all those things are never going to change so the question is whether we want a diplomatic solution which i personally always favor or we do down the little rocket man. >> dagen: sanctions could bring that up, wait hold on one second
i want to get jonas. i think what president trump did could be very wild because you throw a wrench' into this and raise questions no businesses in europe are going to ink more deals with iran until there's some certainty about what the big old usa is doing. >> i'm not crazy about bringing countries to their economic needs. we have less problems with bigger economies so if anything it would be better if i ran wasn't like north korea and more like a jury in a real country. i don't want to get off topic because good points were made about the shortcomings of the deal including good points about not getting rid of a deal just to do it but the problem and i like the idea of tinkering with the deal to force congress to do something. the problem with this and whether it's healthcare or any of the other things trump's latest strategy is is it is going to congress and they aren't going to be able to make a better we're all acting like oh, they will come up with a better deal than this so-so deal we already came up with and it's like they come up with a better obamacare. they aren't coming up with better than the mediocre things
we already have or they would have happened already. this deal is still 10 years or so of less nuclear development maybe and that's better than an even worse deal or no deal or wrecking the whole thing which is the kind of work they're capable of doing. >> dagen: gary b., but i was watching the stock market which i know you do and you had every market deal hitting an all-time high on friday. this will hurt european businesses if you cutoff deals more than it will hurt american companies, at this point except for maybe boeing. >> gary: exactly but on the flip side dagen i think this will help worldwide economy because it's going to be a safer , if we get something different agreement if you will done. you know, i want to go back to jessica made a point that says she always favors diplomatic deals. you know, jessica even way before you were born, we were
doing a diplomatic deals-- >> jessica. there was a time before my existence gary? >> gary: where has that gotten us? nowhere, we have more dangerous foe than we did before . the whole point president trump understands is you don't do deals with bullies. you make a line in the sand and you stick to that line. yes, he's punting at the congress at this point because that's probably the sensible thing to do. for jonas's point are they coming up with something better? i hope so but at least he's taken a proactive approach. >> dagen: john i want to bring you in here. this is a country that captured our sailors and chanced death to america and israel but john do you know what gives us leverage over iran, are all business that we are the world's largest exporter of refined product right now. we are on the cusp of producing more crude every day than we ever have in the history of this country. that gives us an awful lot of power over that little iranian oil country.
>> john: little iranian oil is getting a lot smaller it's about 3 million-barrels a day so when you talk about such a small amount which is 4% of global production west texas crude and bakken shale and north dakota can come up with that in a short order so you've taken that oil out of the equation which is a very important part. the bigger thing than this iran deal right now is iranian encroachment into iraq and to also syria, that is much bigger problem than the nuclear proliferation going on. we have a lot of problems. understand also, that iran is training a lot of the former malitias helping us fight isis. this is a very complicated process that we have right now with iran. to be able to go in and re negotiate this deal, the sunset provision we should have never had that, but you can not insert that into a deal that isn't a current existing deal and the problem is we have a deal that we signed we're legal ly obligated. >> jessica: just adding on to that i think it's a really
important point here when obama drew the line in the sand the red line with syria and went back on it everyone was rightful ly enraged with him. the u.s. even though it was president obama not president trump has commit to this deal. they made this a partnership with a number of other countries >> dagen: but we're guessing, charles-- >> jessica. they're terrorists. >> dagen: we shouldn't have ink ed the deal. we handed billions of dollars to a sponsor of terrorism this is essentially killing america thanks guys. jessica coming up, the president suggesting if nfl players don't stand up maybe it's time the teams give up those tax breaks. .
teams to give up all of those tax breaks. they've been getting, gianno take it away literally. >> gianno: well literally in 2004 there was a tweet to the irs code which allowed for owner s to write-off 100% of their purchase price of these teams over the 15 years i believe it is, so we know that the nfl is pretty much employing millionaires, it's not employing an industry of well-paid american citizens that are from middle of the road countries. i don't know why we would allow for them to write-off 100% of their tax liability. it doesn't make a lot of sense to me so when it comes to industries like maybe home depot or wal-mart or somewhere paying folks pretty decent bucks of course executives and otherwise that makes more sense for them to get a tax break versus giving these folks 100% tax write-off here and they obviously increased the value of the team. >> dagen: john you played pro ball. what do you think because again, this debt that these teams
issued to build these stadiums that's cost the american taxpayers $3.7 billion since 2000. >> john: it is. its cost major league baseball a little bit more talking about the citizens of america through tax breaks but that's local and state and what gianno mentioned was 2004 for owners. the nfl dropped their exempt status in 2015 only right now you have nhl, pga at exempt status and i feel very strong. i spent a lot of christmases in iraq and afghanistan with wonderful heros and feel strong ly about our flag and country and also very very strongly about the motives behind this protest not necessarily how they protest but you can't use the tax code as a penal system because you disagree with what a company is doing. i think it's wrong and don't think what america is based on. >> dagen: gary b., i know you don't like tax breaks for stadiums. >> gary: exactly. i'm going to disagree with john on this one. first of all a lot of the municipal bonds they issue for these stadiums are exempt from federal taxes, so if they choose
to go totally local and state like they did recently in las vegas, that's one thing but you know, john talks about closing loopholes and normally the municipal bonds are used to build bridges and highways and infrastructure. the fact that the nfl teams found this loophole from stadium s, i think could be just a case of well we're just going to close a loophole. now is it vindictive on the part of trump? well i'll leave that up to anyone else but could it be done and maybe should it be done? i think so. >> dagen: jonas? >> jonas: look this whole socializing sports is a surd. you're already paying on your cable bill a certain amount huge plans for cable companies. whether you watch sports or not the fact some of your tax money is going to a local government can do it tax-free mini offering to build a stadium you're never going to do to it's not a road or a power plant. everybody doesn't have a car or use the road or bridges but at the end of the day it is a great profitable business the only people richer than the athletes are the owners that figure out a
way to pay for this stuff like everybody else and not be a charity organization and get bond deals to make these deals go through. >> dagen: you know what? it's cheap tickets if you're a giants fan though right now, jeff. >> jessica. my brother-in-law is a giants fan. my boyfriend is a cowboys fan and i went to my first nfl game actually and here we are. boyfriend and brother-in-law are both incredibly nice, but to gary's point he said someone else could deem whether it was vindictive on the part of trump i'll take it yes it is vindictive on the part of president trump. he will stop at nothing to "win this one" and i agree completely with what john said there. it's very disturbing to see the president of the united states of america weighing in on these issues in this way. i expect that we will be seeing some interesting types of protests this weekend. i'm not sure how many will be standing how many will be kneeling but i think there will be a lot of unity.
>> dagen: ideal this senator corey booker who happens to be a democrat was in favor of getting rid of this tax favorability. >> jessica: that's fine corey booker is from new jersey and i'm a new york gal. >> dagen: thank you, goes, and gal. cashing in just over an hour from now trish what do you have coming up? >> trish: hi dagen, vegas shooting victims the hotel where the gunman fired from now someone says all big resorts should be security procedures to protect the public and protect shareholders plus why are some democrats slow to give back their donations from harvey weinstein? see you at 11:30 eastern. >> dagen: thanks, trish we'll be watching but up here first congress pledging even more disaster relief, now as the bills for hurricanes and wildfires continue to pileup, someone here says that we've got to keep our debt down, so how do we pay for all of
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>> dagen: wildfires still raging , hurricane victims still hurting, the house this week passing a $36.5 billion aid package. and john you say this is exactly why we need to cut our $20 trillion debt so we can spend on the things that really matter. >> john: absolutely. look debt essentially doubled under president bush, it doubled again under president obama. congress is mortgaging our future to get themselves re elected. we aren't going to have money for anything except interest payments if some sanity doesn't come to washington d.c. >> dagen: gianno.
>> gianno: balanced budget amendment where is that. we've been talking about the budget and tax reform for a long time but no one is talking about where are we going to cut, how will we cut spending and balance our actual budget? >> dagen: jess? >> jessica: yeah i don't disagree. there are a lot of places we could be cutting and go back and get those chickens off the treadmills and we can start there. >> dagen: jonas? >> jonas: see i don't think there's any cuts to pay for all of this damage so we need to tax for it because the america people pay it because they know it has to get paid and we don't have the borrowing capacity with our debt this high relative to gdp so let's have a plan to pay with this with a federal tax that can be temporary to reboot the fema budget. >> dagen: gary b.? >> it's never temporary. >> dagen: as you know we will never cut spending that's part of the problem. >> gary b. jonas for one is a communist so let's get that right upfront with this tax talk. two, i think john made the
comment by within the next 30 years or so, almost our entire federal budget will be on entitlements and interest on the debt. we don't cut it now we are the next greece. >> dagen: sadly that's true 80% of the growth in federal spending is on entitlements and interest on our federal debt. it was great to see you all, gianno and jessica thank you so much for joining us, gary b. was nice to you. >> what's up with that it's always me. >> dagen: it is you jessica actually. it looks like ikea is going to the dogs. literally, the swedish furniture giant launching a new line, and this man's best friend and your this man's best friend and your wallet will love
when i step out on stage i think i am communicating with people. i would like to tell them that i want to make a change in life, like, yeah you can have two heart transplants but it doesn't stop you from doing the things that you love. when i get my driver's license of course i'm going to say yes to be an organ donor, because i've been saved twice, so who says i can't save somebody else. it's just the beginning of a new story. this gift of life was made possible by an organ donor. imagine what you could make possible. learn more and sign up as an organ, eye and tissue donor. go to organdonor.gov. ♪music ♪you fill up my senses ♪like a night in a forest ♪like the mountains in springtime♪
♪like a sleepy blue ocean ♪you fill up my senses ♪come fill me again ♪come let me love you ♪let me always be with you ♪come let me love you ♪come love me again >> predictions, gary b. go. >> dagen i was just at lowe's and it was mobbed everyone is rebuilding after the hurricane is here and disasters elsewhere
it's a great stock to buy now up 30% in a year. >> jonas you like it? >> jonas: not if trump takes the away the mortgage reduction. >> amazon has a it rival in wal-mart and it's up 20% in a year. >> dagen: gary b., you look like you shop at wal-mart too. i will buy wal-mart stock when i buy my very first thing from wal-mart.com. >> dagen: [laughter] jonas your prediction? >> jonas: it's about time ikea is launching a pet line of furnishings et cetera, now you can't buy stock directly but the whole swedish economy will boom when all the money pours in. >> dagen: you look like john you'd buy furniture for your animals. >> john: i would understand ram one better than i understand his dad can we keep him please? >> dagen: yes we can.
hi. we'll get you a king size bed as all your own thank you for joining us number one business block the cost of freedom continues right now. take it away, mr. neil cavuto. >> neil: welcome, everybody. coming to you from seattle today which has a lot at stake if you think about all of the technology companies and the big names here that are hoping to see tax cuts and the like and then the middle of all of this the president getting nasty with his own team going after the likes of bob corker and a nasty tit for tat a lot of folks wondering you need all the friends you can get to get tax cuts through or is this just part of a wider strategy to put the pressure on the folks on capitol hill to deliver the goods this go around. let's get to it with my team panel joining me charles payne, we've got deirdre b, what is joe doing here? ben stein and last but n