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tv   Cavuto Coast to Coast  FOX Business  October 23, 2017 12:00pm-2:00pm EDT

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could hear his watch ticking. he was pinned to the back of his seat when it took off. i want to try this thing. i'm an electric kind of guy. maybe. neil cavuto, electric guy, here you to. neil: for you certainly a lot quieter than a horse and bug by. >> 15-0. neil: they're so quiet. i don't think pedestrians hear them. stuart: are they talking about putting noise on it, so you can hear the things coming? neil: i don't know. i'm just passing this along. out of concern for you. we're talking about a couple of developments, with the president meeting with the prime minister of singapore. specifically the idea of an
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additional rate, where he had me confused after catching one-on-one with my friend maria bartiromo. first listen to this. >> when paul mentioned one more category, which i may not have, it may not happen, he does say this, plain what he said, if for any reason i feel the middle class is not being properly taken care of. neil: was referring to the speaker paul ryan, open of additional rate to attract votes for entire tax package. he and maria are walking around the white house and he says this. >> you mentioned the tax plan inside. can you give us any sense of the fifth bracket? if you do a fifth bracket, that million dollars, two million dollars? what is the number. >> i don't think we'll use a fifth bracket. i don't want to use a fifth bracket if for any reason i thought the middle class would
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not get as much as they're entitled to. they're entitled to a lot. it is about middle class and about jobs. neil: if you're like me it is abbott and costello moment. you just said -- i'm a little confused open to additional bracket, not open to additional bracket. blake burman is smarter than i. what are you hearing from the white house, is he for an additional bracket? reporter: i have no answers for you, neil. i wish i did lob the wealthy would receive more or whether or not there are four tack brackets. whether it is four or five or and it would be the between 35 and 39.6. that is the ebb and flow. trying to answer your question, there is a report out there
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today that millionaires, those who make a million bucks or more under this new tax plan, would see the rate stick at least at top end level at 39.6. when the effect i have rate would be who knows. it would stick at 39.6. as a senior administration official put it to me, that million dollars is not set in stone. the levers can be pulled one way or the other, something comes down here, maybe a rate go up there. keep in mind, neil, that no rates have been set at this moment. as it was put to me by the senior administration official. yes, will there be a a blackket, might not be a bracket, could be in the framework. could it be million dollars, potentially? might be, might not be. these are the things when the president spoke to house republicans yesterday in a phone call, one of his messages, there were a few, one of his messages
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for the house ways and means committee pick up the pace of text of the bill. that has to wait until the whole budget process gets formalized. bottom line, neil, a lot of negotiations on capitol hill. they're working through some things. as one lever gets pulled the other one gets raised or dropped accordingly. neil. neil: thanks, blake burman. douglas holtz-eakin on idea of hiking taxes on the very rich or at least keeping 39.6 on those making a million or over. it's a moving target. since no one is owning that where does it go, doug last, do you think? >> honestly neil, there are three things about this that are interesting. first the president emphasized the middle class. the most important thing for the middle class is not something going to be on the peace of the paper. whether reforms in business community will cause them to invest here, keep ip here, better wages, about economic growth. whether this tax reform will be
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successful based on how it does there. second thing jumps out, pattern over negotiating over particular items, state and local tax deduction, 401(k), fourth bracket that is not tax reform. you don't get the choice. i like the tax reform but not fourth bracket. you get tax reform or not. you get economy and better economy. as soon as they get a complete bill out there, sooner that is framed the better than we are now, easier i think it will be. neil: obvious you're talking about keeping rates high for the rich, whether at a million dollars, you're doing that as a republican to entice democratic votes but will that do the trick? >> i think they're going to be lots of reasons in the end for democrats to support a food -- good tax reform. i'm not sure you will find a democrat the 51st vote over
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the finish line. once they get passed they will jump on board. history shows it's a big by partisan effort. this is something is republicans will have to pass. every juncture they float idea not cutting top bracket, they have to gauge economic growth they might do, and ultimately votes in the senate that will dictate whether they get tax reform done or not. neil: as former confidante of john mccain's, knowing that they will have the meeting tomorrow where the president will be up on capitol hill meeting with all republicans, i do want to gauge your reaction to comments the senator seemed to be making about the president this past weekend. let's listen? >> we drafted the lowest income level of america and highest income level, found a doctor would say that they had a bone spur, that is wrong. that is wrong. if we're going to ask every american to serve, every american should serve.
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neil: do you think, doug, he was taking a swipe at the president's draft deferrals? >> i don't think so. i obviously don't know, but, i think if you take that in the context of the speech he gave in philadelphia recently, his remarks on the senate floor, he is deeply concerned about an america he thinks may have lost sight of the greater eye ideals. we need to be willing to serve country that stands for ideals and prosperity and defending democratic -- neil: do you think he is targeting president without naming him? he has done this a lot. where there is smoke, sometimes there is fire. i wonder how that sets the stage if they meet tomorrow? >> well i think when they meet tomorrow the president will walk into a room of senators where not everyone has been thrilled with everything he is done. it is not uniquely john mccain but as john said in those remarks, as the senate will have
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learn in tax reform, there are moments they have to rise above petty and narrow differences to get something done on behalf of the country. in tax reform, defending country, there are deep needs, we're underfunding the defense budget, putting our servicemen at risk. we have economy in 2016 produced zero increase in real income for those full time, full year. those are unacceptable moments. and so, everyone is going to have to sort of look past their individual differences to get something done on behalf of the greater good. neil: senator mccain did vote for the senate budget and that had some people saying maybe he would vote for the tax-cut package. there is no guarranty of that. what does your gut tell you? >> i think the proof will be in the pudding. we have not seen a house bill or something introduced by the senate finance committee. when you look at that there will be only one way to judge it. will it change the trajectory of this economy, so productivity
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growth will stop being zero. so wage growth will not continue being zero. middle class will have a chance to see rise at work instead of what they experienced last 10 years. neil: douglas holtz-eakin, former cb. director. we have jason riley, fox news contributor. first of all the president meeting with all the republicans tomorrow. how is that going to go? he needs virtually everyone of them. how is that going to go? >> we'll see which side of the bed donald trump rolls out of in the morning. it is so hard to predict what this president is going to do. i agree with doug holtz-eakin, get past petty differences aned get something done what they promised voters. trump has very little wiggle room. i think the president should pass this thing. only thing they can do it
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without democratic votes. and this budget will allow it. neil: why did they seem to make efforts for democratic votes and espouse taxes at upper income folks, whatever level it kicks in? i know part of that, do the numbers work out. so i don't dismiss that. also seems to be this notion that maybe they can get some democratic votes if it doesn't look too slanted to the rich? >> yes i -- neil: can they get democratic votes doing that? >> i don't know. like doug holtz-eakin said, i don't see any democraticking their neck out being that vote that puts them over the edge. if it looks like something that will pass, yes. they will do that. remember this is not idealogical white house, neil. neil: you're right. >> donald trump surround himself with a lot of people that weren't not that long ago were democrats. they're not philosophically opposed. neil: gary cohn, steve mnuchin. >> they're not philosophically
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opposed to tax cuts on the rich. they are not supply-siders on the reagan era. that is not this white house. there could be a place strategically for democratic votes. this is something that may not bother them that much, raising taxes on rich people. neil: the president is greeting the singapore prime minister, lee loong. this is second time they meet. this president has been a frequent cheerleader for the president, he has been quite a supporter. they will meet for a while. we'll no doubt go to the oval office exchange views and take some questions. the singapore prime minister meeting with the president of the united states. to your point earlier, jason, where the president is coming from, in the interview with maria bartiromo he gave two different answers to the fifth bracket, i say fifth bracket, he
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includes zero% as a fifth bracket, so this additional bracket for the upper income. how will this to down, if million and up crowd still see 39.6% rate? >> i, who knows. it is -- i think, it will depend on the overall package, where this would fit in. and what he thinks is to be gained. is this another play for democratic votes? neil: wouldn't it be a kick if they go through all the hoops and don't get one democratic vote? >> i think they have to assume they will not get a democratic vote. i really do. i don't think there is a lot of bipartisanship in the air in washington. neil: what happens to the markets which have been on a tear if tax cuts don't materialize? >> we could see a softening i think. i think that the reaction of the markets is, it's baked in there will be something done this year. i think -- neil: if it doesn't pan out, a selloff baked in as well?
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>> i don't know if it would be a selloff. neil: a correction, 10%? >> there will be a cooling off i think you would see. would depends what kind of business you have. a lot is driven by companies that do have some business abroad, international, multinational companies and so forth. neil: right. >> i think the real meat here what will be done with these corporate rates? a lot of money parked overseas. will it be brought back here so businesses can invest, people can get raises, hiring can take place. neil: what if they pour into their stock which they can do? >> they can. i don't think that is what they want to do. they're itching to expand, build, capital investments, so forth. a lot of debate is about the rates and brackets and so forth. that is not really what will produce the growth i think. what will produce growth here will be money coming back from overseas. i think that is real key part of this tax reform, if you believe that economic growth is
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ultimately what which need. neil: all right. jason, well-said. jason riley, "wall street journal" economist. more important to us, a fox news contributor. we like that. mark cuban is not ruling out a 2020 run, as a republican. yeah, a party challenge. battle of billionaires. let's get ready to rumble? after this. [vo] when it comes to investing,
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>> i'm fiercely independent. >> but if you run you will have to run one or the other? >> maybe. >> well if you had to choose what would you choose? >> probably republican. >> how come? >> because i think there is a place for somebody who is socially a centrist, but i'm very fiscally conservative, but i think there are better ways to make government smaller than the old traditional republican ways. neil: two things i noticed in that interview, the music. will someone turn the music off?!. more a billionaire a frequent critic of this billionaire in the oval office, not only would he entertain challenging him for
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presidency but do so as republican in 2020. what does my friend charlie gasparino think of that? what do you think of that? >> i know mark pretty well, enough to cover him for many years. neil: you called the president donald. >> i knew him covered him for many years when he was just a new york billionaire and friendly with both of them. what is interesting -- neil: mark still likes you. the president hates you. >> i don't know. have you ask cuban whether he likes me? here's the thing, donald trump never had a real formed political view. he kind of stepped into this sort of nationalist thing. i think it was presented as a way to win. i don't know if donald trump really believes a lot of this stuff. cuban, on the other hand, always been a liberal as far as what i am concerned. neil: voted for hill. campaigned for hillary. >> i've been in private campaign
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meetings with him, various conference, salt conference, put on by scaramucci, we've been in the room where we debated things like social issue, immigration, always pretty much to left of center. i find it interesting that he is now talking about running as a conservative or, excuse me, running as a republican. i don't -- by the way a lot of people like mark cuban think they are conservatives they want to balance it. often they want to do it with higher taxes on everybody to feed social welfare programs. neil: how do you think he would do challenging? a lot depends on what the environment is. >> one thing trump was smart enough to do, take a playbook handed to him by steve bannon, roger stone and guy by the name of sam nunberg, take the nationalist plat form they took from listening to conservative talk radio and take it, run with it. actually there was constituency for that. i mean we know that just from talk radio, okay.
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from our viewership to a certain extent. i don't know if there is a, sort of constituency for the type of stuff that cuban is babbling about, particularly in the republican party. neil: you wouldn't need a lot, right? just enough, because, think about donald trump getting elected, you don't need a large number of people. just enough to tip you in crucial states. >> we don't know what his constituency is. neil: very good point. is he looking to throw away all the liberal baggage to challenge the republican national it. that is possible. that would be conduit. neil: we might be going to the white house with the pool operate starts with sing more minister, who is realistic running for fed chair right you in? >> i would say jerome powell as the guy. this is just my surmise. if you think he is is going hawk, i thought initially he was, he would go for kevin warsh because kevin's father is ron
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later, very close with trump. he has good policy cree endingses it. if you think he is going dove it has to be powell. it gives him two things. he gives him doll visionness, not unwind the balance sheet and unlike, yellen, like dodd-frank. neil: no chance to reappoint yellen, you could argue if it ain't broke why change? >> no hose. if you game plan, powell, if you go dove as opposed to hawk. if you go hawk you say warsh. if you go dove -- neil: dove is more inclinedded to keep rates low and a hawk will chase inflation. >> make inflation to be the thing that you really worry about. a dove would say -- neil: william miller type deal, right? >> you don't. dove is for unwinding the balance sheet and basically, fed
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has dual mandate. neil: slowly, unwinding slowly. >> think about this. fed has dual mandate. keep employment low as possible. neil: you're pointing two fingers at me. >> sorry. at least i didn't point middle one. you keep inflation in check. if you're a dove, you basically gear towards lower unemployment as opposed to inflation. a houck is the opposite. looks like he is going for a dove. neil: someone being too dovish, will that disrupt the markets or are we past that kind of thing? >> i think we're past that i don't think markets care, i think they like yellen. it is just powell gives him policy stuff. powell is for less regulations, getting rid of dodd-frank. neil: market reactions on tax cuts, they seem to think they will get done this year. are you saying that? >> markets are saying that. there is a lot of heavy lifting to go. one thing that could screw up the market based on reporting i'm getting now, somewhat of a
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change, not getting this done. neil: so then what if it doesn't get done? >> i think there will be a selloff, question how dramatic. there will be a selloff anyway. we'll have a correction at some point. long term, if it doesn't happen -- here is the thing markets run on corporate earnings. what will give corporate earnings the biggest bang? it will be the corporate tax cut. if they get the corporate tax cut down to 20%. i don't think it will be 25 because that is much different than we have right now with the loopholes. if you get it down to 20, you have to figure in a boost to corporate earnings. neil: what if that crowd, top one percenters and then some realize personal rates won't move? say the president keeps it at 39.6%? >> i think it is mostly contingent on the corporate tax rate. neil: really? even if they don't get a personal rate cut? >> what is the biggest bang on corporate bottom line, how stocks move, on individual taxes which is indirect way to stimulate the economy. neil: we missed you.
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we had a boomer segment without calling it boomers. it is not the same. prime minister of singapore with the president of the united states. let's listen in. >> well, thank you very much. we have prime minister lee, a highly respected man, singapore doing well. continues it do well. you never even see a downturn in singapore. you don't agree with that, but looking from the outside you never see a downturn. i just want to congratulate you having done a fantastic job. the relationship that we've had over the years has been very good but it has never been closer than now and we'll be spending a lot of time-one of the things we'll be doing in short period of time, signing together a very large contract where singapore is buying billions of dollars worth of airplanes from boeing that will be made in our country. so that's jobs and you're also buying the best plane by the way of the so that is very good. i want to thank prime minister
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lee. thank you very much. >> thank you very much. very happy to be with you. here at a time when our relations are prospering we're looking forward to take them forward, deepening them and strengthing them for many years to come. >> thank thank you. it will be never stronger. >> thank you. >> i will go into that part of the world in two weeks. stopping in numerous countries as you know japan. >> yes. >> south korea, china. we'll be stopping in vietnam and probably the philippines also. it will be a busy 10 or 11 day. >> very important trip. we look forward to meeting you, hearing your message. thank you. thank you very much. thank you, everybody. [shouting questions] >> thank you very much. neil: nothing -- he wasn't entertaining questions. president with singapore prime minister, whose father was a prime minister minister as well. well-educated. went to university of cambridge
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and harvard. he is finalizing, president didn't specify, an order of 39 boeing aircraft worth i think close to $14 billion. they haven't spelled that out because the is have not been dotted or ts crossed. this is in the works but they might finalize before the prime minister leaves. but again they are expecting to get a big order boeing's way. so boeing has been on fire with a lot of these, orders that have come from leaders that stop in to say hello to the president and also ink a deal that will put them in good graces with the president, to say nothing of the folks at boeing. the dow gains today are still getting us into record territory. we'll have more after this. y sh. we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before
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well, it'sonce again.eason >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade. ♪ neil: all right. i have heard of big hackers now going after, what credit rating agencies, credit agencies,
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banks, retailers, but schools? yeah. schools. to hillary vaughn with the very latest on that. what is going on, hillary? reporter: hey, neil. it is happening more often as schools become more high-tech, now hackers are posing a higher threat to kids in the u.s. fbi says cyber threats are hitting schools more often and the attacks are more dangerous and sinister. so far hackers targeted over 30 schools coast to coast. it is not just data they are holding ransom. it is safety and privacy of american schoolchildren. these hackers are getting their hands on student names, addresses, social security numbers and birthdays. they can access a student's grades, disciplinary records, even their medical records. if schools don't pay up, some hackers are threatening to expose students information to predators n iowa, one school district said their hacker released students names and addresses online. the hackers sent threatening text messages to the parents,
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some including death threats. school was canceled in response. the fbi says these cyber extortion cases are costing targets more each year. valley college here in los angeles paid $28,000 ransom in january. schools in atlanta, boston, and georgia had direct deposit paychecks intercepted by hackers and rerouted to unauthorized accounts leading schools to make up difference. a lot of the incidents go underreported. the fbi says only 15% of cybercrime victims involve law enforcement. neil. neil: thank you, hillary, very much. scary stuff for parents and kids and their private lives. the president is open to having a lot of tech companies expose more details about political ads. after all the russia medical, or meddling claims. deirdre bolton is here with that. reporter: president trump spoke with our colleague maria bartiromo, he said well, i'm open to looking at tech companies. neil: right, right heart.
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reporter: he didn't seem full of conviction. he told her literally, i'm on the fence. the big question for these companies are they going to be held to the same standards as us? for example here at fox or any network. that is to say if your candidate, fur running, if you have your name anywhere, on tv or the radio somebody has to let people know, viewers and listeners where money for the ad came from. what we saw in the 2016 run up that makes the whole thing tricky, some ads circulating on facebook and google, they didn't mention candidate names. this is really a gray area. they were just planting these kinds of events or issues that are particularly divisive to americans at this point. so i am not even sure if any of these ads showed up on tv or radio, that there's a case legally to be made anywhere. the spin forward that execs from google, execs from twitter and
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facebook, have been invited, they better show up to d.c. the first week of november to answer some questions. facebook in the past has been reluctant to give over any information. chief counsel, special counsel robert mueller had to come up with a search warrant. facebook, we're not kidding around, i have a warrant, give me the data. facebook did comply. all of companies are afraid of giving away their special sauce. they're feeling the heat from lawmakers. one quirky thing for fast book, the company is meant to report earnings on november 1st, one of days, someone relatively high up from their company is supposed to be taking questions from congresspeople. we'll see if facebook comes up with, sorry would love to chat with you about our business, we're busy with earnings. or they're going to quote-unquote, do the right thing as far as optics or release zuckerberg or sheryl
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sandberg, other well-known executives. neil: that could be a slippery slope. you're policing all types of advertising even from secondary and third parties on behalf of the candidate without mentioning the candidate's name, who is responsible for that? >> this is a whole new world, that the fact it even came up with maria's conversation with the president, the bottom line he is aware that these companies are in the cross-hairs. worth pointing out, facebook, google, twitter, facebook and google are knocking it it of the park compared to the s&p 500, twitter is a laggard up 8% year-to-date. still respectable. when the s&p is up 15% year-to-date. it is hanging in. neil: imagine where they would be without the president. the nfl in the story again here today, the president tweeting about how the nfl desperately needs leadership. jerry jones said the nfl is suffering negative aspects from the protests. some people say that it popped up in this week's games where there were empty or emptier
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stadiums. dan kaplan what all that means. dan, is there a cooperation where not all filled stadiums and controversy over anthem thing among nfl players? >> yes. clearly there is a correlation. there are organized boycotts occurring. fan letters come in to the media, to the teams. no doubt it is having an effect. how much of an effect that is open for debate. the league is aware of this. jerry jones is not the only one making noise about it but right now the league does not seem to want to go to war with its players on this issue. neil: dan, i think a, players and owners this, that this will die down. will it? >> i don't think so right now. last week at the owners meeting at the press conference the commissioner said there is only six or seven players kneeling. there were more than that this past weekend. it is not clear this is going to go away. the league would like it to go
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away, but there is no evidence it will right now. neil: so where do you think this goes, short of them not making any changes? in other words, the owners made it clear we like you to stand for the national anthem. we'll not punish you if you don't. a lot of people getting frustrated. with could turn this around or reverse it? >> if you see a major sponsor pull out. we reported exclusively in sports business journal, papa john's, associated with nfl, top sponsor, peyton manning with endorser, it told nfl pizza sales in game are down. attributes that to the anthem protest. if you see a sponsor pull out, owners can not say they have the players back and it is business. maybe the players will understand that. neil: if more advertisers come along saying we notice impact on sales as a result, that might be the only thing that changes? >> they're hearing from the
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sponsors that they don't, the sponsors don't like this. sports is supposed to be a unifying experience away from politics, bringing politics into it, brings that 50/50 divide back into the equation we all despise. so, if sponsors see this, nfl does not respond, my take, it will take a response or or two, major one pulling out for nfl's attention to be garnered on this. neil: dan kaplan, thank you very much. sports business journal nfl writer. we appreciate it. any day from friday would be a record. no group seems to be experiencing that more than financials, bank stocks, investment related stocks. normally it's a rule of thumb, when they are hitting highs, maybe you should be ducking for cover. they are hitting highs. the read from "barron's" after this. ♪ can i kick it?
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neil: welcome back. one of my favorite things i like to do on the weekend, get my hands on the latest "barron's." the sig development what it look for and they're uncannily prescient. i'm sure it has to do with "barron's" editor jack otter. one of the things your publication is guessing into to testing the strength and duration of this rally and looking at all the factors behind it, not the least of which is calling tax cuts. let's talk tax cuts first. financials have been soaring on the belief it is going to happen. they are going to happen. do you agree with that? >> yes. but my but financials are soaring for two other reasons, the expectation that interest rates would go higher, which helps net interest margin spreads. the other is regulation. it is typical pendulum. you have a financial crisis. too much regulation. over time that regulation goes away.
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eventually you have another financial crisis and the regulation comes back. we're at the stage where we think some of that regulation will go away. you have three potential tailwinds for banks, including lower taxes. neil: lower taxes materialize. regulations are going away. >> yep. neil: some other factors like slow and steady rise in interest rates without the tax cuts continue. then what? >> it is important to understand how corporate tax rates work to see how financial benefit. we hear about the 35% corporate tax rate. the reality companies pay vastly different rates depending on nature of their business. the average corporation pays 27%. but financials are a little bit higher, maybe 28, 29%. there are not someplaces to hide money. they don't have overthat's business or depreciation. they feel a tax cut better than factory or apple can hide its money. apple will benefit but you know what i mean. pharmaceutical company can hide money overseas. so as a result, analysts are
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already building in expectations that their earnings will increase as a result of lower taxes. they're not interestingly pricing in a 20% tax rate. just to give you -- neil: that is interesting. >> one, they will be, congressional machinations. who knows what we end up w. generally 25% is the base case that analysts are using. one example to see how it hits the bottom line. allied financial, nothing special about the bank but just as an example. sandler owe knoll expect $3.05 a share if there is 25% tax rate. if it stays there, they only see $2.68 for earnings. that is big jump. neil: if it doesn't pan out. >> mnuchin said, that the stock market will crater if we don't get tax reform. what was left unsaid there, that implies the market is already pricing in tax reform. so i don't know if he is right
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or just negotiating in the press or what. neil: really quickly while you're still here the president seemed to dance around additional bracket. he counts five if you include zero which is a scratch. he walked that back a little bit. the understanding if you keep millionaires, at 39.6% that might entice democratic votes. i don't see that happening. maybe you can keep a good argument keeping debt contained or controlling deficits in the years to come. what do you think? >> i could see centrist democrats looking for an excuse not to be obstructionist. they want an excuse to vote for this. that could give it to them. i think this is very interesting. the right now the way everything is structured if you discount that one, you say every dollar over $418,000 is taxed at 39.6%. that would go down under this one. neil: right. >> if we think progressive tax structure is right, why would
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you stop at 418,000? i'm not saying we need to raise more taxes, but wouldn't you extend that upward? 418 is not the same as 400 million. neil: talk now they're bouncing around this million dollars. would that change it? it does stick in your hard. >> it does stick in your head. that might get negotiated upwards. it makes sense to question why would every dollar over 418 be priced the same or taxed the same? neil: that is interesting. >> i don't think it's a bad idea. neil: how is the president handling this? he will be up on capitol hill with all republican senators, including john mccain included, how will that go? >> you tell me, neil. neil: right. >> i think obviously mccain knows he is walking off into the sunset. he wants to go as gentleman, so he has a little bit of an incentive to take the high ground. you with trump you never know. does he get points by being tough with mccain, or could he take the high road?
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i would love to see them both come to terms to have a good meeting but you never know. neil: the fact that john mccain voted for the budget, senate budget, telegraphed to some, i don't know if that is the case that he would be a yes vote on tax package however it finalizes out. what do you think? >> i think so. i don't think he wants to be see complete obstructionist on with thumbs down on health care. maybe he sees something he likes. i'm not in his head but i maybe optimistic i hope he would be a yes vote. >> what do you markets like like to you at "barron's"? admiring the view? >> i was joking with someone, we know the markets don't go down anymore. neil: that does seem to be the case. >> we want to know when the crash is going to come. that is the wrong question. the question is if and that is yes. neil: jack otter, "barron's" editor at large.
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president with prime minister of singapore, lee hsien loong. they will finalize a 30-nine jet deal with boeing -- 39-jet deal with boeing for $14 billion. i don't have idea what a particular jet costs but took some off to seal this deal. apparently that happened this morning. >> i'm kevin mcallister, ceo of boeing commercial airplanes. >> i'm from singapore airlines. >> we're very happy to be here today to celebrate the signing of 20777-9s and 19, 780-10. >> we're proud to be customers. >> in terms of the order is $13.8 billion. most importantly it is about
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70,000 jobs. >> you bet. you bet. >> those are all jobs in this country, right? >> 70,000 in this country. yes, mr. president. >> otherwise cancel the order. [laughter] >> thank you. >> great planes. >> thank you, mr. president. >> so with that -- all right. >> congratulations. [applause] congratulations. >> thank you so much. >> thank you. >> thank you very much. >> great airline. >> thank you.
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>> fantastic. >> haven't flown it in a while. >> we always welcome you. >> thank you, mr. president. >> thank you everyone. [shouting questions] no -- great, thank you. >> we'll line up outside of the cabinet room. [inaudible conversations]. >> interesting, right? >> we look forward it lunch. >> it will be a good lunch. they do serve good lunch.
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thank you very much. it's a great honor to have problem prime minister lee of singapore and ministers. we signed a order with boeing worth $14 billion worth of airplanes. we do a lot of business with singapore. it is at its highest point. it will continue. mr. prime minister, thank you very much. honor to have you in the white house. >> thank you for inviting me and my delegation. we have pa very good relationship with the united states. and we hope to -- >> thank you. >> very happy -- [inaudible] we have a good airline and buying the best airplanes. we made a good decision. >> that is why they buy boeing. [laughter]. thank you very much. thank you, everybody. >> thanks, everyone.
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[inaudible]. neil: okay. you never know. that is why we always hang on a little longer but the prime minister of singapore, lee hsien loong, after signing on what was expected a big deal to buy 39 boeing aircraft worth about $13.8 billion. we're keeping close eye on that. keeping a close eye on other types of aircraft of more militaristic nature of the air force pushing back on a report that b-52 bombers are on alert. defense priority, lieutenant colonel daniel davis. lieutenant colonel, you know better than anyone, we were upping the ante with b-52s flying near north korea just in case. they are poo-pooing that report. are you? >> i'm sorry, say that again.
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i didn't hear you. neil: the official read from the defense department and others there is no truth to this story, that we are readying b-52s or heightened alert over north korea. with what do you say to that? >> i read reports before coming on here, some air force officials are giving credibility or credence to the report but i hope they are wrong. this is not help us and greatly inflames the situation and doesn't help us respond any faster. we have tremendous ability to launch weapons all over the world from submarine silos anywhere we need. this doesn't aid us. doesn't make us anymore responsive but does ramp up the heat of things which we don't need. neil: where do you see this going, colonel? >> well, this where i see it going and where i hope it is not going. where i see it going, appears the impetus for military action of some sorts keeps continuing to rise. the japanese minister of defense
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today used very strong language saying he thinks we need to consider more stringent measures because he said it is getting more, to a greater extent of danger and threat, which i don't believe that it is but that is what he is saying. you see that. you see the white house talking about bringing these b-52s up. looks like we're getting ready for something i think will not help us out. neil: colonel, thank you very, very much. we're watching this closely what you said. breaking a little bit of news with the president and prime minister of singapore talking about all sorts of things ahead of the president's trip to asia in a couple of weeks. we'll have a lot more after this, including a dow into record territory yet again, up about 14 points. we'll have more after this.
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and make smarter trading decisions with fidelity for just $4.95 per online u.s. equity trade. fidelity. open an account today. ♪ neil: at the very clever strategy to think about it. we've never seen this before. normally, they link it to a business deal transacted with the president of the opposite in this case, donald trump did they come together. in this case, the prime minister singapore to stay low, and bearing gifts. a $1,320,000,000,000 gift, purchase order for boeing aircraft, but they continue sending we've seen to come bearing gifts, to bring deals with time, certainly the united
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states and think more favorably of them. it's something we are seeing a lot more of on the part of a foreign leader who comes there to say look, we are ready to do this. meanwhile, the president does to deal with republican senators. to try to win them over to make you numb on gas for. for this tax package that hasn't been ironed out. what we do know is the president open to anything and everything that would secure their vote. let's get to read on holidays. katie frates, the daily collar. what do you make of how that's going to go. especially among those senators i assume will be john mccain. >> you are right. the senator will be there two hours ago, and kind of alluded to this in the interview his relationship with trump is physically nonexistent.
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i would say is definitely more spending and months more for the military appears turns want to get this done. they can find common ground. we can focus perhaps less on that mri the middle class and so on so that we can keep the facts straight has republicans at the end of the year will be very embarrassing. neil: we don't know whether we'll know whether it will be an additional tax cut, so obviously we are focused on the personalities. we need to know what it is they are committing, right? >> they've got to explain this really does benefit the middle class and again it's been ironed out. in 40% to 25% from which is the
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lowest it's been since the 1930s. and there's about 30 million as middle class. give these guys a middle-class tax cut. more likely people in a middle-class -- i certainly hope they did not come with only 21 days left on the congressional calendar come and kneel. republicans in d.c. have two special talents. one, snatching defeat and to keep being one. i'm a little cynical at the moment. true to the mccain relationship with the president. if he loses mccain it could be a question mark. we will gather around and do the best. others might not.
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then you would have to rely on not as the president and democratic supporter. even allowing the very rich folks and other measures that would try to win over democrats. is it realistic to expect democrats will vote for this? he might depending on the ones that are more or less threatened. you've got a few that are more centric, stealing state that may not go their way come the election. i want to say i don't believe anyone in congress. i truly want to believe no one would vote no on something just despite the president. if there was someone like that they do not deserve to be in congress. i would hope that the republicans if they can work something out with taxes that no one's going to take something that will help the american public because they don't like the president. >> the understanding with rand paul was if anyone in the middle-class pays more is because the deduction or allowance rescinded he would
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have to be in no vote. i think that's what he said. but republicans then, with an assurance that everyone's going to get a tax cut? >> right now everything being discussed is a tax cut for the middle class. they're doubling production. there's a lot of benefits for the middle class at a party been discussed so they are getting tax cuts. going back to democrats that could potentially vote for this coming you've got a look at joe manchin, but you got a look at heidi heitkamp in north dakota, both of whom are in very strong trump states. there states. there might be the potential to reach across the line to say this is for the good of the american people. going back to six weeks ago, 71% of the american people want to cut for the middle class. this right now is a good package for the middle class. let's get it done. if being i would tell trump to mars you can a year to get sent and done.
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i find it ironic when mitch mcconnell says make policy, mr. mcconnell or go home because losers go home, winners make policy. either make policy or go home. >> that reads like a trump to eat. good for you. thank you both very much. dave, one that thinks mere mention of democratic senators who might or might not vote for this. i'm reminded of senator heidi heitkamp is that you can make attacks and without helping the rich. obviously thinking now this is whatever republicans finally come up with at this point. joe manchin and the west virginia. right now it's something has to be done there to get their votes or do republicans go through hoops to try to get support like that and end up taking off the road base? >> i don't know. you certainly would like to see for once someone reach across the aisle just a little bit.
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only the two senators across the aisle and just say what is this even look like to have your support? we would rather not have another affordable correct vote on the other side where it looks like it's a pile on completely from one party and therefore feels illegitimate in some way and gets repealed the moment somebody has the ability to repeal it. you would love to see something. maybe we should do something that feels right for what is right for the economy and right for americans. to me a couple of minor tweets would be worth making a couple of minor tweets to get that across the aisle. tree into dave, what is your sense of the market tax cuts notwithstanding and how this is nonstop and we are not that far away a couple of months when the nine-year anniversary of this bull market, will not record it is one of the more prominent achievements. what could undo it in your
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opinion besides the black swan events i know we don't see coming, but oftentimes in retrospect if we open our eyes, what do you see? >> it seems to me we are in certain ways demand out of the equation. the internet has a very interesting way of pulling out the need for more stuff. it allows us to share more things coming to meaning we don't all have to have a car if uber exists. we don't all have to have new office space if we can go do a wee work for some other kind of facility that allows us to sort of come together. in my opinion, there is an interesting technologically enabled demand weakness that's rubbing underneath the surface and if it ever really starts to show them kind of revenue, failure to grow revenue, that could weaken with a dividend yield of 3.9% right now, which is the inverse of the ratio.
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when you say it that way, historical average in the high 6% range. he looked at it and say this week already and if i see something that makes me feel that there's really a structural weakness, which there might be, that is the kind of thing the black swan thing could peel things back. >> you know, a lot of folks say the market is either rich or very rich. the rich crowd say not too, too rich, not too wacky. like october 87 correction time wacky. >> it doesn't feel wacky to me, like i get it. as you and i have talked about before, the information revolution does drive efficiency and efficiency does drive earnings and so you are seeing healthy earnings. the fear or the risk is if anything starts to take that, if
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it stretches beyond were corporate america has deployed the information technology and that's why worry you could see things going. neil: interest rates right now are going to take up the federal reserve, whether it includes janet yellen now or her successor were someone else later, but the market seemed to be taking that nicely. what do you think? >> it is better to have kind of a healthy initial ecosystems than one that is in effect as one sharp in the dirt. no deal they can get anywhere done a better pile into equity. whatever one wants to see the act, that might make sense for equities but then i've got to be an incredibly smart as opposed to feeling like i in.
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clearly the yield picture would be aggressive interest rate policy for a long time is distorting things. there is no kind of questions about. if you could use that distortion i've got to think that makes a better financial order for everybody. neil: great seeing you again. thank you very much. tree into do you believe lee harvey oswald alone killed john f. kennedy? donald trump might've gone a long way toward once and for all officially ending that debate by bringing thousands of pages of file on the assassination that have been kept hidden from the public. is there information in those thousands of pages that might put new life on what happened that dark day in dallas including why weeks before lee harvey oswald was in mexico talking to russian and cuban officials. they are it not paperwork. what might that prove? [vo] when it comes to investing,
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every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. neil: president trump releasing the assassination documents. what that means.
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i guess the last thousands, tens of thousands of pages worth of documents have been built from the public view ever since the assassination. some are expressing that they are being released. others say have at it. where do you stand? >> i love it is like christmas. ii think the more sunshine the better. i'm tired of you read this in the media and soon speeding what we are last year in reading what we are. so i'm all for it, you know. >> some of these images before the bullets killed president kennedy. did they come from one guy in one direction? would they be able to ascertain that or just really harvey oswald was? >> i don't think they're going to answer. i think eventually we will now produce really all about this murder but i don't think it's going to be but not in our
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lifetime. i tend to be in a 20%, the minority who believe it's one shooter right now, although i could easily be moved. we have wire to fbi wiretap where the mafia talks about doing it. we have the president sleeping with the mistress. neil: they would have gladly have done. train to go ahead, i'm sorry. >> in fact, the old question of any murder as we know would benefit and we have an abundance of possibilities, but cuba and the cia, fbi, lbj who benefit. you could say some who served on the federal reserve lowered. it's kind of like agatha christie on the orient express. everybody on the train has a
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nice. train to know what's interesting, and the stuff is always interesting and may, we knew he was honorably discharged and became a dishonorable discharge. we know he went to mexico city. we know enough that while he was there he met with cuban officials. a lot of that in this regard did paperwork and other documents and hence the concern among security officials who are worried about the bill over a fax about that and how the government looks in retrospect not doing more to stop him. that is always the concern. would you make of that? >> i think that's very true and the herd is going to go there. i had the opportunity to talk to gerald ford part of the reluctance was deference to the
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kennedy family to protect them and their image in the president's relationship is almost adolescent sexuality. heart of it was that. robert kennedy was going to run for president himself someday. the warren commission pulled its punches. some of that is going to come out in this age of harvey weinstein offered an 18-year-old in turn been asked to serve as the president study. some of is going to come out and it will be interesting for history but painful. train to that notion, be careful what you wish for you might get it. train to the former fbi assistant. a lot of federal agencies worry about this sort of does, whatever your views are an kennedy and what they might reveal. >> i don't think i'm worried that much. i think the matter what comes out of this, you are going to find information that is going
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to support whatever point of view you might have or might develop. did it come from internal within our government? was it the russians, was the cubans? no matter what comes out, somebody is going to glean from that something that support their point of view. it's very difficult. the other thing is waiting in the years as if to kind of mask or shadow a little bit of the tradecraft that minded a news and still being used so we don't know anything about that. we don't delve into the tradecraft or could it be somebody who's an informant at bedtime may still be alive at this particular point in time. the other thing is, no matter what comes out of this come in there is going to be some castigation of both law enforcement agencies and intelligence agencies. there will be something new that somebody will want to hang their hat on. neil: have talked to a lot of smart people like you.
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i cannot fathom how one recluse, crazy guy code from a perch in a building kill the most powerful man on the planet and they can't reconcile one guy cannot do that, yet john kennedy famously said the warning about assassination, that any crazy guy with a rifle or many one of these buildings, i'm paraphrasing, but that was the fear that he had incensed that assassination, the president has been shielded for good reason. what do you make of that? >> neil, the possibility exists of course the one individual could have done something like this. the other side of the coin is we have to look at everything that's going to come out of these documents and i think we are going to find that the information is somewhat blurry once again. train to what would be blurry?
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a lot of people pointed to the goings-on of harvey oswald in the weeks prior to the assassination that he was preparing% and, what do you make of that? >> i think that's got a strong possibility. but it could be blurry. the information that contained in the documents that will be released may not be as sharp and pointed as everybody would wish it would be. again, it's going to leave it open for conjecture and anybody's opinion that contends that it was a number of instances, whether it was internal, whether it was organized crime or russians or cubans. i think anyone will find enough information in the to support their present point of view. neil: -- [inaudible] lee harvey oswald acted alone. a lot of the theories didn't buy it, but even those for the
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assassination of pointed to the yes that would likely have been the way it went down. one guy could pull this off for my perch in the window near the president's motorcade. just curious, do you accept that? >> i can accept that, neil, but they also keep kind of an open mind as to send rain. i have good friends who were in the bureau who had done a lot of work to show that perhaps it was organized crime that was involved and fully believe that. i think maybe if some of the contentions can be straightened out or debunked by the release of information, we all have to keep an open mind. >> because of the steps and precautions made because of that tragic day, it's a lot harder to do that. one on ronald reagan and a lot
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of conspiracy is early on with other president that there is no guarantee that you could prevent this sort of stuff. >> meal, it can become more difficult to do it of course we have closed vehicles, which made a lot of sense. but to say that it can never happen, i've never said never. always a possibility in some wacko can do some thing if they plan. neil: thank you very much. former fbi new york assistant. just to let you know, these documents are going to be released in stages we are told. the president has said he could be compelled to certain documents it's not wise to release them. we take those on a case-by-case basis. the indication 50 years after his assassination is ending and all remaining documents as to what happened that day, and what
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the youngest american president will be out soon. a little more after this.
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>> welcome back to cavuto coast to coast or nicole petallides live the floor at the new york stock exchange. a couple of names under pressure. first we take a look at hasbro down a plane 5%. despite the fact earnings-per-share revenue it be the current quarter, the forecast a little bit weaker than expected for sales projections at least in part because of toys "r" us bankruptcies working closely with toys "r" us scene it's already affected them and they give a cautious tone for holiday sales. stopped down a .5%. a look at general electric. general electric down 7% on friday after appearing the losses than we see is down 6% here today. a couple of downgrades from morgan stanley and that really is outweighing the stock down
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$1.50 today is the ceo making some changes that was weaker than it. you may remember 2233 right now back in the year 2000. maybe on pace for the worst month since 2014. talk to you, neil. neil: thank you very much, nicole. the president continuing the weekend game tonight's quote here, no leadership in the nfl. there is no question the league is suffering negative effects from his road test. connell mcshane on all of the above, a lot of stadiums. let's put it that way. >> a lot of people showing the opening kickoff for there still may be a few people tailgating. but there is no, to jerry jones' point, but this is having an impact on the business. not the only negative impact being amazing to see the ratings going down but this story
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doesn't get talked about as much before all of this, ms. t. t. e. n. concussion. the pro football had enough problems but this has added to it. this is pretty much agreement. the showed the split in the way political parties. they shouldn't be that way, right. the logical reason other than the protest that republicans are identifying as football fans depending how you look at it. it doesn't make any sense other than the anthem protests which republicans which would be more upset about the democrats the way politics work out. jerry jones had said it, espn reported today that the contract they've been working on, extension for roger goodell has been delayed at foregone conclusions are anything but. tree into what can they do?
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they call it on the protest. and they all go away. >> there's a little bit of a rock and a hard place. we talked about this last week. if you do go the other way and i know a lot of people have written in and say why disney just make a role? keycode, but there could be backlash there, too. there'd be some civil liberty lawyers involved. they look at that and say if we go that way will we get hey, they are trying to find this middle ground where nobody is happy. they do have a role but you should pay them for the national anthem. you saw some of the nba games where players are all locking arms that they are all standing up respectfully to the national anthem whereas you had a couple that it's not all kneeling, some of its raising the fifth, but the protest occurred at the end
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of the year put a rule in place in between now and then you've got a lot of issues. the president asserting not helping matters because every time he treats about it, more attention is hurting their business. >> real quickly about hollywood. what is going on there, one disappointing week and after the other. >> the geo storm, they could end up losing $50 million plus per some places. that's not the only one. they were, to your point, just one of these stretches where nothing is working in warner bros. is pulling out of the studios and they tried to do it quietly after they leave it there and no one will see it.
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short and long-term issues they are. longer term, what is their motivation to go to the movies? the studios have to put out good products so we want to leave our couch because there's so many other ways and may see them. they are in a tough stretch right now. neil: that looked promising on paper. people like to start the movies. >> some people say it something to do with all the horrible disasters we go through in real life than in a movie like this. deals that disasters. it's like sport. you want to be older go out and enjoy the football game and not talk about politics. and not think about the disasters in the news. it could be part of it. neil: real quickly, what are your friends, colleagues, sources say net tax cuts.
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>> i'm still skeptical about the low end of the routine. i think they get something through on the corporate side is still something that could go. it is more doable, somewhere with any democratic support, but if you ever shot it made not to say they won't do something on the individual rate that you've been talking about, but still a bit of a skeptic. >> thank you very much good at the meantime, we are to hear from the president again. the prime minister of singapore having lunch at the white house. i don't believe they will take questions. you never know right now, but the president and the prime minister of singapore came bearing gifts, which is a trend lately we've seen him in this case with the big order of american jets from boeing. 39 worth about
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$1,320,000,000,000. unique to this president, those who visit him. it does help to have a deal in hand. the singapore leader is a big deal. a little more after this. hi, i'm the internet! you know what's difficult?
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ahhhhhhhh! you know what's easy? building your website with godaddy. get your domain today and get a free trial of gocentral. build a better website in under an hour. i'm val. the orange money retirement squirrel from voya. i represent the money you save for the future. who's he? he's the green money you can spend now. what's up? gonna pay some bills, maybe buy a new tennis racket. he's got a killer backhand. when it's time to get organized for retirement, it's time to get voya. neil: the scene of the rose garden, do not face capital in the united states trying to win over republican senators. 52 of them gathering to meet with the tax-cut package. the president pressing to get together on the same page and get it done. rhea barta romo sooner rather than later. he thanks you for thanksgiving, let alone before christmas.
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vice chair, congressman doug collins. congressman, thanks for joining us. do you think that is doable by thanksgiving? >> is doable by the end of the year. >> will work hard and begin to put the process in place. i think that is what we need to think about here. we have to start at first, but if they can be working on this now, if we get this passed so we have that we are well on our way to getting this passed. neil: are you open to getting this bracket one that would stay at 31 points 6% for richer folks we are told earning a million or more year? >> it's always a possibility even in our framework we just weren't sure where the numbers would say. they usually say that would be the best option. again, what we are looking at here is more money and more people's pockets.
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we are focused on the middle class. we are focused on job creators as well and this is something we are lucky not to fine tune the details commander the details come and there will be some consensus between the house and senate so we can make this happen. neil: i noticed a lot of these overtures are two democrats more than other republicans, even moderate republicans to try to entice some of them to vote for this package. you agree with that? [inaudible] i mean, they have businesses and people in their districts like i have in mind. they get up, go to work and families who could use extra money in their pocket each month. this makes their dream have been. the republican district, it does not change. the president understands that. what we've got to do in the congress has come to a solution that is to see how this would help their families.
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it's about getting something fair and simpler for the american people. they should come onboard and if they don't, they can explain why they would for further constituents to pay higher taxes. >> the party is made to get democrats to vote for this and not one of them and that voting for it. >> i think it'll be interesting for me because i'll be traveling the country next year and why they chose to vote against the american people and against small businesses. i think it puts you in a terrible position to go and explain that you think the government needs to be funded at a higher rate than a lot of the programs. at the end of the day we feel like it's better for the american people. neil: in the end if the end of the end if you come up with a tax cut that gets a little bit watered down but it doesn't make the deficit a whole lot worse, are you okay with that?
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>> i remember you and i talking about this a few months back. we've got to balance the two parts. we've got to also understand the growth in a tax reform package. it's happened every time for kennedy and reagan. every time we've done is we've seen growth occur. but also, we haven't forgotten, at least i haven't forgotten about the fact it's time for the republican congress to start looking under his pen name and also how we are dealing with our budget overall. not only putting a tax refund back into place, but those of us who have not forgotten the fact we should have been spending more early on, we are still here and will continue fighting for that. neil: congressman collins, thank you for taking the time. we appreciate it. on the left-hand side of your screen, the rose garden outside the white house now with the president and the prime minister of singapore will make joint statements. we are told they will not take
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questions. something the president will surprise you. go buy a bunch of plane from you folks. about 39 to be exact. $1,320,000,000,000. this is a pattern we've seen with the president. that's a big one. we will have more after this. ♪
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neil: all right, when there's a big tax cut like areas right now, one of the ideas kicked about his whereabouts in the deduction for state and local taxes. another one was maybe stopping, at least sound that you get for 401(k) plan. gerri willis on getting a firestorm. >> absolutely come, neil. he would suggest the 401(k) reduction called around nobody's taking responsibility for what is undoubtedly part of the absurd. what would be the impact of cutting the deduction from a 10,000 for those under 54 years of age. were you to invest 18,000 each
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and every year over 40 years, you've had $174,000 at the end of this period. 2400 with the same returns coming pages 289,000. does putting the late 18,000 over 40 years would earn 4,663,000 compared to 621,000 for those stuck in a $2400 a year. the returns would be much worse for individuals. the more immediate impact would be in the markets. traders say it would precipitate a selloff in lower levels in the long run. scott radler, chief strategic officer told me today. they have helped the market they elevated. the month later flows would be reduced fine pressure. neil, what it does sound like a
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nonstarter to me. doesn't seem like it has a lot of support. train to thank you very much. the two-minute warning for the president and the prime minister. amazon lucky not to under proposals, people looking. nicole petallides live at the new york stock exchange. >> just about every single state in the united states of america. canada, mexico included. of course you know that it means $5 billion in investment of 50,000 jobs. they will not tell us until next year. neil: all right, the president
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and the chair of singapore. >> i am honored to welcome prime minister lee in singapore to the white house today. thank you, mr. her. i want to thank you for visiting mass and your entire group of very talented group of people. your friendship has never been stronger than it is right now. singapore is one of our closest strategic partners in asia. the united states is proud of the deep and enduring partnership we have built-in singapore gained its independence or than half a century ago. singapore's rapid development for my poor island nation to an economic powerhouse under the leadership of the prime minister's great father, he was
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a great man, he really was a great man, has been one of the incredible economic and political achievements of the past 50 years. singapore's strong commitment to the rule of law to the principles of fair immersive old, one of my favorite words when it comes to trade, and has made the country a magnet for business. today over 4000 american companies are operating in singapore and have a large trading relationship with singapore. earlier today, the prime minister and i witnessed the contract signing between
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singapore airlines come a great airline and bowling, worth more than $1,320,000,000,000. i want to thank the singaporean people for their faith in engineering and the american workers and our american workers to labor the best product by far. a robust partnership extends beyond economic cooperation and trade. mr. prime minister, as your father noted, the development of the economy is very important, but equally important is the development of the nature of our society. so true. the united states and singapore share profound believe in a society built on a foundation of law, a nation ruled by law
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provides the greatest security for the rights of citizens and the best path to shared and lasting prosperity. both the united states and singapore understand the unmatched power of private enterprise to uplift the human condition. these values have made our society stronger, sustained our partnership or the cold war and laid a critical foundation for a lasting relationship today. our common volumes and interests have led to a vital security relationship. the united states and singapore are currently working to enhance the capacity of law enforcement fight terrorism in bolster cyberdefenses. our two nations within unwavering threat and promoting freedom of navigation in the south china sea. singapore was the first southeast asian nation to join the coalition to defeat isis. it was very far thinking. you were there before most. more than 1000 of its military personnel trained here in the united states every single year. when hurricane harvey struck our gulf coast in late august on the singapore deployed its own helicopters to transport personnel in critical resources to areas they need and the prime minister told me that and call me and made that request himself and we want to thank you for the use of our helicopters. the uss john mccain suffered a collision at sea, singapore came to our immediate assistance. on behalf of all americans, i want to thank the prime minister and the people of singapore for their support which has been
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tremendous. in few weeks i will attend the u.s. aussie on summit in the philippines where we will celebrate the 40th anniversary of u.s. asean relations. we will continue our relations at this year's summit and see the great thing singapore will accomplish as asean chair in 2018. in other words, this great gathering will take place in 2018. mr. prime minister, thank you for your continuing partnership and leadership. the u.s. singapore relationship has made both of our people far more prosperous and secure and have made this long-standing friends. we are fortunate to have such a wonderful and loyal partner. thank you very much. [applause]
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>> mr. president, ladies and gentlemen, i would like to thank president trump for his very warm hospitality. i'm very happy to visit him in washington. following our first meeting which is that the g20 summit meeting in hamburg in july. we had a wide exchange and reaffirm the robust enduring partnership between singapore and the united states over the last 51 years. it is a deep and wide relationship with substantial cooperation in economic defense and security and we also discuss what more. on the economic front, an important partner just as asia is an important economic partner for the united states. singapore is a small country with five and a half million, but we are sizable investment with the u.s. and these continue to grow. we are the second largest investor with more than
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70 billion u.s. dollars in investment in our total trade in goods and services amounted to more than $68 billion last year. the u.s. has consistently run a substantial trade surplus with singapore. last year stated the export of goods and services to singapore and i per capita basis we must be one of the highest buying american customers in the world. $7500 worth of american goods and services yearly. pharmaceuticals services, financial and consultancy services, [inaudible] and i discovered >> my new balance news are made in the u.s. and probably in new england and we buy boeing jets.
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we just purchased 39 boeing aircraft worth $3.8 billion t will modernize sia's fleet and support many american jobs. our defense ties are very strong. singapore support as military presence in asia. we since 1990 we hosted u.s. u.. navy aircraft an ships on rotational deployments. we thank the u.s. for hosting 1000 military personnel each year in training detachments in the united states. we have forces at luke air force base in phoenix and murano and in arizona. at mountain home airbase in idaho at grand parry, texas, fort sill, oklahoma where i spent three months many years
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ago. they are deployed to as sis in the hurricane harvey disaster relief operations. we're glad to be of some help to our very gracious husband host. we have a close partnership too on security cooperation including transnational security an terrorism and cybersecurity. singapore has lent early consistent support to the defeat isis coalition. we were one of the first countries to participate and are still the only asian country who have contributed both military assets and personnel. as i told president trump when we went, singapore will extend the existing deployment of the operation into 2018 for an additional year. president trump and i naturally discussed the situation on the korean peninsula. we strongly oppose the nuclearization of the korean peninsula as it affects the peace and stability of the region. and like the u.s., we condemn the dprk's dangerous

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