tv Making Money With Charles Payne FOX Business October 26, 2017 6:00pm-7:00pm EDT
liz: big earnings growth, revenue up from 34% a year ago. thank you for having us in your home. thank you for watching. charles payne is here with "making money." charles: the house narrowly approving a senate version of the budget. it will allow them to pass a massive set of tax cuts later this year. a number of republicans opposing the budget bill in the hopes of protecting some of the deductions. there are a number of things that are near and dear from your
heart. being from new york, how much is the potential elimination of state and local deductions play a role in your no vote? >> that's the entire reason. i voted for the budget when it passed the house. the senate sent it back to us and it specifically targeted the state and local tax deduction. we need more economic growth, lower the taxes for middle class families and help small businesses and businesses in our countries create jobs in the united states. that's what i'm for and that's what i'm hoping we can do. we want to shape this so it doesn't penalize taxpayers in states like mine. charles: the counter argument is these folks are enjoying a subsidy and benefit other people
in get. that's the pushback object this. is there a middle ground for all of this? >> the pushback on that is we send more dollars to washington. we only get 80 cents back and new jersey 65 cents. but that's not the issue. for me it's how do we fairly treat middle class families. i think we are in good faith negotiations with our house leadership, kevin brady has been forthcoming in trying to accommodate us. but i wasn't about to vote for this. it was saying trust me. i believe in what ronald reagan said about the russians in missile negotiations.
trust but verify. charles: somehow this will have to be revenue neutral when scored by the cbo. so a trillion dollars has to come from somewhere. the bored adjustment tax -- the border adjustment tax is dead on arrival. we are hearing about changes to 401ks. a fifth higher tax bracket. it sounds like there will be a compromise that goes against what voters thought they were voting for in november. >> we have to simply fight, reduce rates. reduce the number of brackets. and eliminate a lot of the provisions in the tax code. this has been in existence since 1913. even when abraham lincoln had a
temporary income fox during the civil war, state taxes were not deductible. we have to make sure as we are doing this we are not penalizing people in states like mine and hard working taxpayers in new york and other places. coming up with a compromise that will work for everyone. charles: i really appreciate your time congressman faso. for more on the next steps for tax return. nan hayward joins me, and washington examiner commentator writer. emily, as you listen to the congressman, not a lot of faith
in leadership to do the right thing. a lot of folks didn't give them benefit of the doubt. >> i think that's the right thing to narrow in on. that interview was interesting for a couple reasons. he said they are in good faith negotiations over the state and local tax deductions. that's a very, very good sign for people who want tax reform. they will have to find middle ground in that area. what we saw today was a lot more votes -- was a number of no votes from republicans. one was because of the lang tbhaijt budget about state and local tax deductions. and a lot of conservatives said this is not a good bill. this is not what we came to washington to do. at least they are in good faith negotiations. that's a strong sign.
charles: you think they will have to make some adjustments on the state and local deductions. if you were in congress today you would have to join your fellow new york representatives. >> the argument is validly made, shouldn't new york reduce its tax burdens on its citizens? sure. but you can't go back to your constituents and say by the way, i voted effectively to raise your taxes. charles: something is going to be hurt. there is a sacred cow or two that will be hurt, eliminated or altered. >> a big part of the problem is the cbo is a static scorer. they assume no growth and they don't assume the dynamics of tax
relief. they are going to have to carve away at things that help the wealthier americans. i don't think they can do anything that hurts the middle class. charles: we have breaking news. we have been waiting all day long on the kennedy assassination files. reporter: you have to wait a little longer for some of these files. but we just found out that we'll from the national archives get a release of some of the highly anticipated jfk filed later tonight. but not all. we thought there would be 3,100 documents that have never been released. but we are told we'll see 2,800 tonight. why are we not seeing them all? we are told there is a last-minute request from government agencies, mainly the cia and fbi for certain redakss to be made or certain documents not to be made at all. the president is the only one
who can decide not to make these documents public. if you go back 25 years to what if the first president bush signed into law, the act that got us to this point, it's written that only the president can denied not to make them public. so what has happened is apparently the cia and fbi put in requests for certain sensitive documents. from what we understand it could be names of certain informant quite possibly or sources and methods the agencies were using they don't want made public. president trump has done, he set a new date, april of next year where the documents will be reviewed by april 26 of 2018. but then the agencies will have six nos go on it and a new decision will be made on the remaining documents. you will see 2,800 new documents
on the jfk files, the assassination of the president. but there are some others out there that we won't see, at least not tonight. charles: i want to bring in rod, our political analyst. all the conspiracy theorists are sitting around waiting for this information. and we have another layer with the delay of some of these files until april of next year. what are people hoping for? >> donald trump is hoping there will be something that will implicate the cia and the fbi. charles: what makes you say that? >> i don't see knot iter grown for him to release this other than another piece of classic misdirection which is a magicians trick. charles: the american public is interested in this. there are questions about athlete harvey some walled,
because he alone. someone may have trained him. he went on a trip to mexico. there are a lot of unknowns people want answers to. >> roger stone wants answers. i would like to know what the answers are. i think it best book written about the assassination is by james elroy. it talks about the coalesce sense of different groups of people. the cia, the mob, and possibly an fbi cover-up paul working not necessarily together, but all with the same goal to wants to see kennedy assassinated. i'm curious to see what will happen. i just think trump's intentions are notal truistic. true -- are not altruistic. it's for his own benefit. charles * lee harvey some walled
as the lone gunman, who trained him, who inspired him. it's too complicated for one angry american citizen who embraced maxism to pull off. >> it's shared by such a huge segment of the public. people were thinking we are going to have closure on that. it's a little too optimistic. but this one of those conspiracy theories that a large swawft public has an interests in and believes. we have so many institutions at play here. people were earring for answers. i don't know that they were ever going to get them from this particular document dump. but maybe we'll get more clues which is big news for a lot of people. charles: jfk, i think, his stature amongst presidents in history continues to merge
higher and higher. earlier this year c-span polled historians and he came in 8 of all time, just ahead of ronald reagan. he governed at a time and a way that we don't see anymore. here was a democrat who was for tax cuts. there is the yearning, if you will, to know more about this particular president. it might be a bygone era that a lot of americans would like to see come back. >> it will never come back. it was a more naive era. he was handsome and charge. he invented the flts news conference. he had an unbelievable amount of charm. he's the paradigm for the perfect president if you go for looks and image and ability to speak and beautiful wife. charles: what about policies?
it didn't feel like the rigidness we have on both sides which is why we don't get a lot of bipartisan policies these days. >> the politics was different back then. but we had bipartisanship and centrists. and kennedy was a good poll anything that regard and got things done. charles: we'll get 2,800 documents. some thought it would be 3,100. we'll be back with more later in the show. it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.
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cap on 401k contributions. with only a simple majority rather than the usual 60 need to overcome a filibuster. this puts congress at an interesting points. they can give the tax reform, but can they still get it done? here to join me, veronica, you wrote a piece in the quest for a better tax code it shouldn't be difficult to agree that a tax deduction that benefits rich people of and subsidizes rich people should go. >> i'm not the only one savoring the democrats and republicans complaining about the rich
people in their states losing their tax subsidies. charles: you started having animosity towards rich people? >> i actually don't. it's a tax subsidy. i'm in favor reducing taxes for everyone because it unleashes economic activity. tax subsidies are just that, a subsidy. charles: you live in one of those high tax states, the economic quagmires, the democratic leaderships in those states will never lower taxes. republicans in congress will have a hard time seeking reelection if this goes through. >> i'll be the first to say this is going to hit me. i'm going to have higher taxes because of this. but that's my fault for living
in a high-tax jurisdiction like chicago and illinois. there are some things i love by the and some things i hate about it, and that's chief among them. this isn't just an check issue. it's an issue of fairness. if you have a middle income earner. they are effectively subsidizing high-income earners in places like california, illinois and new york. if you are a law partner your taxes may go up and they should because you have been fairly subsidized. charles: they will say we send the a lot more money to washington, d.c. than we get back. and the definition of middle class is different in chicago than it is in oklahoma city. >> this reform should not be
taken in a vacuum. sure, if you just agree to salt, your taxes will go up. including lowering marginal tax rates, and getting rid of the amt. studies show very, very few people will ends. you. charles: i need you to call representative kevin braid yesterday after the show and walk him through all the ways we can make this happen. next wednesday will come very quickly. the republican party is deeply divide on many issues. we talked about a gop civil war. but there is something more
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charles: nearly a year into president trump's presidency. while the gop is united on a lot of things. deeper below the surface there is a lot of division. we are seeing it affect policy. guys, there is a pew report that came out this week, the poll was done earlier in the week. and it broke the republican party into four i am calling them tribes. it makes sense if you look at what's happening. in europe they create coalitions. but we have a gop but not everyone is on the same page anymore. >> absolutely.
i think you are right to say we are united on things that are probably bigger than our differences. but we are seeing these fissures within the republican party. we have the gop establishment and the candidates that say their nationalist populists. then the center right people are not caught up in the right. republicans over here will end up being defeated by the democrats. democrats. the real loser in that case is the american people, unfortunately. charles: they break it down, core krorn, country first conservatives, an new era conservatives. >> i would be core conservative.
i believe in free market and more trade is generally a better idea. charles: you realize the core conservatives are being pushed out by country first. president trump ran on country first. and there is a big emphasis on, we held up the rest of the world. now it's time to help ourselves. how does the party deal with that? >> i think by presenting solutions that will allow segments to come together. one of the reasons we have been disadvantaged in the strayed agreements is because american labor is so expensive because of the burdens the federal government placed on us by raising the cost of our healthcare, the cost of education. we can have conservative solutions that help solve those problems and put more americans back to work.
but we are look for the leaders that will truly represent our values. charles: the american public has given the core conservatives, they put them in office and they have been let down by them over and over again. ladies, thank you very much. president trump signs a major declaration on the war on drugs and drug companies. we have those details coming up. ♪ can i kick it?
>> effective today, my administration is officially declaring the opioid crisis a national public health emergency under federal law. and why i am directing all executive agencies to use every appropriate emergency authority to fight the opioid crisis. this marks a critical step in confronting the extraordinary challenge that we face. charles: president trump declaring a public health emergency on opioids. oklahoma attorney general mike hunter is suing multiple drug companies. he joins us now in an exclusive interview.
oklahoma, especially hard hit by the opioid crisis. today you convened your third meeting about the abuse of the drugs. tell us how it went. >> we heard from the medical community. they provided us a framework for how they believe that our medical community can do more to stem the crisis. there are opportunities with e prescriptions so we are getting away from fraudulent paper prescriptions. getting a tougher prescription monitoring program. and i have to say that the medical community in oklahoma is contributing in a positive way. charles: within the medical community, a lot of finger pointing. doctors may point to drug companies, drug companies point to pharmacies and pharmacies point to doctors. it's a circumstance larp firing
squad -- it's a circular firing a squad. no one wants to take responsibility. but you zeroed in on the pharmaceutical companies. >> those manufacturers have been systematically defrauding and misrepresenting the effective qualities of these opioids. to pay people to generate opinions on the addictability of these drugs. but prescribers are stepping up now. we have an 80-20 rule. the numbers aren't precise. but doctors are doing what they need to do to take care of their
patients. but there is a minority within a minority. and in home, we are holding those doctors accountable. on the lawsuit side we are confident the manufacturers are responsible for billions of dollars in oklahoma taxes. and we are going to hold them accountable. charles: i want to bring in our panel, dr. kelly powers, and nicole sapphire, radiologist at sloan kettering cancer center, and an anesthesiologist and pain management specialist. it's a tough situation. oxycontin was introduced in 1996. by 2000 it was a billion dollar
drug. this is a giant money-making machine. but there is also a need for pain management. >> we have an opioid epidemic but we have patients who are in pain. there is a lot of conservative treatment modalities. but then we have injection therapies, too. steroid injections. charles: are those legitimate alternatives when you are in serious pain and you look at the pain chart. >> when you are talking about cancer pain and nerve pain from some of our veterans coming back from war, you need something a little more aggressive. where you are actual cutting off the nerve supply. the biggest obstacle we have are gettinged the understand companies and federal government to pay for it.
the physicians overprescribing, there is the nefarious form and the ignorant form. we'll crack down on those illegally prescribing and getting the kickback. 7% of medical schools treat medical addiction during medical school. not enough. charles: what do you see as an essential answer here? we are talking about pain management. it's a critical thing. particularly as we have an aging population. we have ways of keeping us alive longer, but with that comes increasing pain as well. >> we need to work as a team. we have physicians and anesthesiologists in the science of pain and the treatment of that pain. we have a host of medicines that
have pain relieving qualities. and there are pace makers for pain that can be placed. outside the pain treatment we need to look at what are we going to do acutely. if we have 10 days of an opiate like a knee scope or heart repair there is a chance that individual will become addicted. charles: 33,000 died from opioid addiction in 2015. do you think it marketing ad campaign will help? >> i heard a scary stat. four out of five addicts started with prescription pills. but then they leap from the prescription bills going to the streets. i wanted to point out, there is another drugs that have less
potential for addiction. they are extends release so they last longer and they can't be tampered with. charles: you are running for politics in new jersey and one of your platforms is immigration building this wall. president trump talked about 90% of these drugs coming from south of the border. can we stop the opioid crisis by stopping the flow of drugs? >> absoluteli'. the majority comes from china, most of is sent to mexico and that's how it comes to the united states. charles: right now we have more breaking news on that kennedy assassination files. connell mcshane is in washington. >> president trump delayed some of the jfk assassination
release. we were expecting 3,100 documents, but we'll see 2,800. official memo the president sent out to department heads and agencies outlining what he would like to see from this point forward. he starts out by saying it's important to get as much information out to the public as possible. but then he says this. executive departments and agencies have proposed to me that certain information should continue to be redacted because national security and law enforcement and foreign affairs concerns. so i have no choice today but to accept those redactions rather than allow potentially irreversible harm to our nation's security. instead the president added 180 days for the agencies as he described them, those agencies certainly include the fbi and the cia and may include others.
charles: the "wall street journal" reporting cvs is in talks to buy aetna. the stock hit earn all-time high on that report. yeah, they saved us a ton, which gave us a little wiggle room in our budget. wish our insurance did that. then we could get a real babysitter instead of your brother. hey, welcome back. this guy... right? yes. ellen.
more serious for tax reform. nation is in the midst of a manufacturing renaissance that will only provide economic healing, it will help fight against that homelessness and helplessness we have been talking about. that's a key components of the drug epidemic. the composite is at its highest level since march of 2011. surging 35% in the last year alone. if tax reform is real and significant, we'll be adding people. they will be investing in awed
nation to fill the jobs. amazon posted a monster number. 53 cents. that was 1,600 percent more than wall street was anticipating. initial reaction seize this stock a whole lot higher. then there is alphabet google. all above consensus. there are 47% from a year ago. consequencently that stock -- consequently that stock hit an all-time high. alphabet was higher. there the was a little bhit less than hoped for. the data computing segments did well and management was able to raise their outlook.
momentum should be back and that should lead the bay way. bin vestors will have to gram with a lot of consumer data and the gop. we'll be right back. think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp
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charles: the government is expected to release 2,800 documents he lighted to the june f. kennedy assassination. president trump blocking the release of the remaining files, pending review. is this the historic day many people have waited for for so long? as an historian, what do you think we'll learn once these file are the released later on tonight?
doug * originally i thought this would be like christmas. now it's a disappointing birthday party. charles: you have got 2,800 documents coming through. we are talking about -- main thing is it centers around lee harvey oswald. the trip to mexico city. who even couraged him, who trained him. did someone else help him out logistically? could one man are pulled all of this off? >> i hope eventually we'll know the answer to that. we solved a lot of mysteries. we thought we would never know how adolph hitler died and where his body was. conspiracy theories of a spy in the british secret service was nonsense and today we learn there were five and they dominated the british higher levels of government for a whole
generation. so we eventually finds the answers to these mysteries. but i'm afraid this dump right now is not going to do it. i expect this to not be the end but the beginning of more conspiracy theories. but i'm glad, i welcome them. charles: earlier this year c-span did a survey of historians. and they ranked presidents, and john f kennedy was ranked number 8 of 43 former presidents, just ahead of ronald reagan. where would you rank him? >> he represents hope for us, but in terms of what he actually did, i think those are hopeful wishful thinking historians. you will see over the web that john f kennedy has an iq of 160. it was actually 119.
we know his i.q. because it was at harvard university. charles: you are saying some myth making? >> have much so. i think it will take many years to have a real evaluation of kennedy because we love him so much. we want him to be successful. but in terms of legislative achievement web's a clean slate. you can write on it. you have revisionists saying he was a conservative. charles: the idea of a universally loved president is something i would like to see. the bipartisan bickering and obstructionism is hurting this nation. maybe it's a bygone era we all long for. we'll be right back. t all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees.
fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.
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informant of all the high-profile russian bribery cases allowing the individual to testify before congress on the obama-era uranium deal and show how hillary clinton was potentially involved. joining me now, john laurel and jamil jaffers, former senior adviser and the current director of the george mason law national security institute. john, start with you. this is a bombshell, i don't know how often the fbi does, this releases someone from the non-disclosure thing, now it's on. game on, this person will be able to testifiment how high should our hopes be that we'll get justice out of this? >> incredible development, because you have someone here who is undisclosed, we don't know who his name is, but lawyer said he has information about efforts to reach and influence the clintons in connection with the uranium deal. this is a bombshell of enormous
magnitude. he was put on ice, wasn't allowed to cooperate with congressional officials, that's off the table now. he's free to talk. this is one of the most significant developments of the investigation of the clintons since day one. charles: jamil, debbie wasserman schultz had no idea what was going on, we don't see democrats circling a wagon around hillary clinton. she might be on her own on this. we've gone from a smoking gun like bill clinton's speeches gone through the roof and the money that was transferred to perhaps someone who can really, really give us the answers? >> i think you are right. the challenge is we don't know what access the informant had, it will be interesting to find that out. in light of all the stuff we heard in the way the clinton foundation raised money, who they raised it from, the various nation states that had all the things before the state department and now seeing real and actual deal that the state department sits on. so this is troubling stuff, and it's important that the
committee is investigated and maybe as senator grassley called for a special prosecutor. i'm not one to call for special prosecutors but this may be a case that's warranted. charles: russia has been in the media, the mainstream media, of course the narrative has always been donald trump and russia, shifted sharply with this bombshell revelation. is it possible that perhaps it could go as far as they could connect the dots to hillary clinton and if so, could there be some legal consequences? >> here's what we know that mr. clinton, the former president, got $500,000 from some secret russian fund at the time of this decision was made by the state department that mrs. clinton was running. we also know that another person involved in the deal was funneling money to the clinton foundation. this stinks to high heaven, cries out for a special prosecutor. charles: special prosecutor, though, what would the domain be? what could they get done? >> investigate mrs. clinton. they would investigate the former president, and they
would also investigate why the justice department under obama did not fully investigate this case. charles: all right, guys, gentlemen, thank you very much. it is a serious bombshell. another bombshell, jfk's files are going to be released today. 2800 files. now lou dobbs. lou: good evening, everybody. as you can tell, we're still in the swamp, washington, d.c., and tonight we begin with breaking news out of the nation's capitol. president trump has delayed the release of some of the files on the jfk assassination that have been required by law to be released by midnight today. president trump has approved apparently only 2800 of the almost 35,000 documents to be released today before midnight, and if anyone in this administration understands what's going on, they're certainly not talking, not talking at least with me.