tv Forbes on Fox FOX Business October 29, 2017 7:00am-7:30am EDT
hope she has a happy life. neil: you have the same philosophy. >> i have four grandkids and granddaughter and hope they enjoy the happy lives and i think they will with ben's book. >> god bless you. [laughter]. neil: here is dave. >> i think the uranium sale to russia and the way it was done, so underhanded with tremendous amounts of money being passed, i actually think that's watergate modern age. david: a modern age watergate? new calls to investigate an obama era uranium era deal to russia amid new allegations it involves crony capitalism deals when hillary clinton was secretary of state and now there's word that the department of justice has lifted a gag order that will make it possible for a fbi informant to testify about what he witnessed while undercover about the russian nuclear industry's efforts to win favorable decisions during the obama administration. hi, everybody, i'm david asman,
welcome to forbes on fox. let's go in focus to find out with michael, elizabeth mcdonald, sabrina schaeffer and bruce tamny with us. john, was this crony capitalism? >> i think general time you give the government a say whom the business sells to anytime you have crony capitalism. the response will be we had national security interests and that's why the department of state had a role here, but the reality is bad actors will always be able to get access to any market good, including uranium, no matter what. so, all you're doing in giving the feds a say, is empowering those close to government like hillary clinton in government, to actually profit from what should be a private transaction. david: and bruce, what makes this so explosive, and forgive the pun here, this was 20% of u.s. uranium reserves. i mean, this is a vital national interest that we sold with a lot of stuff involved, a lot of questions about whether
we should have. >> well, here is the deal. what i would say, first of all, to the president's allegation about watergate, it takes one to know one. and second of all, on the whole idea of the-- this whole uranium, you guys hate government, right? you hate bureaucracy. there were so many levels here, there was the nuclear, the foreign investments committee, there was the nuclear regulatory commission, and that you would need exports to get rid of any uranium. the idea this was crony capitalism, there's no "there" there. david: the amount of money that went to the clinton interests with people involved in this deal, millions and millions of dollars. you don't see a connection? >> i zoo-- i see a connection, news week seems it, new york times sees it. and are' talking bill clinton helping a canadian mining
magnate get at kazakhstan uranium and helping him basically with uranium one, at the one time that the clintons put yusster on the board of the foundation and a clinton foundation-related charity and then he says he has a vested stake and they sold some to russia. it doesn't matter that it doesn't leave the country, russia controls it and we need it for our own sources. david: look at the russian company that ended up with 20% of our reserves. it involved individuals, some of whom were convicted here in the united states of doing bribery, doing kickbacks. i mean, this is a company with a culture that frankly, i don't think should have 20% of our reserves. >> unlike john, i have to disagree with john tamny a little bit. i think when it comes to certain goods where the u.s. national interests are at
stake, whether it be, you know, i wouldn't want nuclear weapons to be sold on the open and free market. i think it is good that there's some supervision by the government and i think it's going to be very interesting to see what this person testifies about and i think it's going to be very interesting to see, really, how come the clinton foundation has not been able to raise more money ever since hillary was defeated by donald trump for the presidency. david: and sabrina, it's important to find out why the supervision by the federal government apparently broke down. why we sold-- made this deal happen dest. pete the fbi looked at people involved with the company that bought it. >> i think that reasonable oversight is important. you're dealing with dangerous transactions like this, but i'm also with john that corruption is-- when we pick winners and losers and when government gets as large as it does, there's only the opportunity for people to be sort of edging one another out. whether it's businesses or
individuals, large sectors of the economy, and i think that's exactly what we see here. we see it over and over again because everybody wants a piece of that pie. david: but, john, in this case, is crony capitalism involving 20% of u.s. uranium reserves. that's pretty big, is it not? >> i don't know. conservatives can't have it both ways. you can't hate crony capitalism and then to the government where a market good goes. mike can say we should limit who nuclear stuff should be sold to, but that doesn't mean it's not going to be sold so if you're going to give the federal government power over a certain good, you are ensured of crony deals, including those involves-- >> i hear what you're saying. we're talking about the clintons, clintons, famous for the chicken commodity trades and let's take fbi files on former government officials.
hillary clinton, yes, ran the state department and she said she was removed from it, but this happened under the obama administration watch as well with eric holder and bill clinton and hillary clinton pulling the strings behind the scenes for their billionaire crony capitalist buddies and others. david: i see you rolling your eyes, does it not concern you that 20% of u.s. uranium reserves are now held by a russian country that has a history of bribes and kickbacks and all kinds of racketeering? >> they've been looking at this for seven years, there's no evidence whatsoever that any uranium left the country. >> it doesn't matter if it doesn't leave the country because we need the uranium for our own nuclear energy at home. maybe you can impeach bill clinton again. >> that's one of the weakest arguments i've ever heard. >> well, impeach the clintons again. >> not saying that, we're talking about the behavior. >> what we're trying to do is prevent something like this
from happening again. is it whether we like it or not, it's going to be investigated. as you mentioned this fbi informant is going to be testifying apparently to several committees. >> that's right, and i think what they really need the answer to here, david, is why wasn't congress kept informed, where was the breakdown. i thinks, as to your point about future deals, that's what's most important, is where was the chain of command broken down so that that can be taken care of so it does not happen again. david: sabrina, isn't that important? >> absolutely. i think we want to know how the deals are happening and if they're happening behind closed doors, then it does raise suspicions, that it's more a function of padding each other's pockets than keeping an interest out for the american public. >> the same russian company is helping out-- has helped out iran with nuclear reactors, it's helped out venezuela as well and that's the great guys we're talking about here coming out of russia. david: to which john would say what, john? >> is somehow a law or control
over it going to change bad actors in the world. >> we cut deals with china all the time. >> hold on. >> whoa, whoa, let john finish. >> if the state department can control whom uranium can be sold to, it can also get in the way of the ridiculous things the republicans got in the way of back when unical wanted to be sold to the chinese. and when are-- >> let me ask a simple question. if a foreign country, maybe from china or russia came in and offered to buy 100% of u.s. uranium reserves, you would have no problem with that? >> it wouldn't make any difference to me because either they're going to sit on it or it's going to go into the marketplace. if they sit on it, fine. look, you can't have it both ways. if you don't want government involved in what private businesses do, you can't say, oh, we want government involvement here, but not here. david: you know the strange thing is. >> the difference that it's going to lead to crony deals. david: the strange thing is, i think that everybody here is against crony capital, it's how
you get rid of it. we've got to leave it at that. g.o.p. unity or draining the swamp, as a second republican senator now says he won't seek reelection in 2018. our forbes gang says that's actually good news for the president and the g.o.p. that's coming up next. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone ♪ can i kick it? ♪ to all the people who can quest like a tribe does... ♪ money managers are pretty much the same. all 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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i'm leland vittert. now, back to forbes on fox. david: arizona republican jeff flake stunning congress this week by announcing he's not going to be seeking reelection this year and despite sharp criticism for flake and tennessee congressman corker, the republican party is unified. mike, is this what draining the swamp looks like? >> david, the swamp got a little low with flake and corker gone. this is great news. both of these guys scored a "f" on conservative review for liberty. if you want individual liberty, you want individual rights, you should be celebrating that corker and flake are gone. david: so, bruce, you may not like draining the swamp the way
that trump sees it, but that's what's happening here. what do you think? >> well, listen, hey, these guys, i mean, they were votes for the-- trump's agenda by and large. i don't know, it's kind of a wash as far as i'm concerned about you i would say, listen, jeff flake was a guy who shined the light on earmarks and stuff like that. so i don't think that these are two guys that are bad apples that are leaving congress. i don't agree with them, but i don't think that they're bad guys. david: e-mack, to bruce's point. some people say if you want to drain the swamp, you don't throw mud at other people, which they claim that president trump is doing. >> i hear that and i don't like the mud throwing, i'll be blunt. rarely am i blunt. [laughter] >> you're always blunt. [laughter] >> here is the thing. i think they need to drain the swamp further. what bothers me now our 401(k)'s are suddenly a bargaining chip to negotiate and pay for tax cuts. since when? they campaigned and got
political on tax cuts and now using our 401(k) money. with social security they've said for years is insolvent. you need 401(k)'s to back up social security and also, they live off-- they're going to live off a ku cushy, cushy pension benefits. david: all the guys at the beltway have that. what about the fact that we've seen the debt explode over the past ten years and frankly, it's when people like flake and corker have been in congress and haven't managed to do much about it. >> well, yeah, we've certainly seen the republicans aren't very good on spending, but i don't think that trump is very good on spending either. he has all sorts of big government ideas himself. i think that corker and flake made a mistake and i say that as a frequent critic of president trump, believes the dollar to the path to prosperity. david: why did they make a mistake?
>> they made a mistake, we need people opposing trump, in the house and senate to moderate trump. i don't think that the trump bannon wing have coat tails. david: sabrina, you also need leadership to get things done and frankly, they didn't do that with health care. >> they're sort of two different issues here. he think that it's important that we keep some people in washington who have a moral backbone and it's sort of unfortunate to see some people go, but at the same time the republican party is dealing with more than good versus bad policies at this point. they have radically different views of government and government institutions and we're facing a potential party realignment and this is probably just the beginning. david: what's wrong with that, mike? the swamp needed change and that's why donald trump was elected president, to drain the swamp, change i think so this. maybe the departure of some people have been around for a while has been okay? >> david, you're right.
they want tax simplicity and they want to get rid of obamacare, it's a draconian amount on people and some people were not behind donald trump on this. this is a great way to get rid of these people and frankly, neither corker or flake were going to win reelection anyway and they might as well-- >> the bigger issue is not whether they fell in line from a policy perspective. i think that overwhelmingly most republicans are going to generally agree on tax reform and repealing obamacare. i think the big decision now is sort of do they stand behind donald trump and sort of a populous vision from america and i think that's where the republicans are saying no, and that name behind it. >> we talk about the republicans a lot. i find it so striking that democrats are acting like flat-earther walter mondale, raise your taxes, kind of a group and when you have 30 senate democrats voted for the reagan cuts, including pat
leahy, joe biden, john kerry and al gore. why are nancy pelosi and chuck schumer behaving the way they are now. david: forgive me, but the point is for the all the talk of republican disunity, there's a lot of disunity among democrats, particularly to see these shots against hillary going on. >> i think what the democrats are doing now, there's an old phrase that says that why knock the knife out of your opponent's hand when they're holding it to their own throat. [laughter] >> a good one. >> funny. >> i think the realignment of the republican party, if i were giving them advice should have happened at the convention. they're doing it all and trying to get their agenda work and i don't think it's going to work. >> the democrats have to, too. david: the cashin' in gang getting ready to roll in the bot many to of the hour. liz, what have you got. >> mainstream news media are downplaying that about hillary
clinton and they had a field day with donald trump, jr., and is it mixed media at its worst. and the lawmakers and the fate of your 401(k). it's scary, will you be retirement accounts be tapped or taxed sooner rather than later? >> we'll be watching. up here first, seize first, ask questions later. what the irs is still doing to small business owners. seizing assets before any criminal activity is found. you're guilty until proven innocent and someone on forbes says, that's why we really need tax reform that starts with the we all depend on trucks. chevy, chevy, chevy trucks. we think it's because chevrolets are
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>> of all the frustrating things about our tax system. nothing seems more unamerican than the irs's inable to close down a business or bankrupt individuals before they've been convicted of a crime. it turns the principle of innocent until proven guilty on its head. a military veteran is waiting to get $60,000 back. e-mack, should ending the irs's power of confiscation of fund be a part of tax reform? >> yes, because the irs oversight of this has not been so state of the art. that small business guy lost his wife and went bankrupt in the midst of this whole thing. it's a really bad practice to take money on just suspicion. they took $17 million just over
231 cases at the irs. the congress has a lo the to do with obamacare and-- >> mike, what do you think? >> i agree with everything that e-mack said, but don't make it part of the current tax reform. i don't want it bogged down like health care did. david: bruce, we have this principle, an american justice system that you are innocent until proven guilty. the irs doesn't conform to that. >> yeah, i don't really agree with this and i think it's sort of akin it drug cases where property is being seized and so forth without any due process and i think that this needs to be looked at and i don't think it necessarily should be part of the tax bill because that will probably bog everything down. david: at least look at it. that's a step in the right direction, sabrina, for bruce. >> absolutely, i think it's okay to put it with the tax reform bill. you need to attach these smaller bills to larger vehicles if we want to see if
they get passed and the reality is, i think that sometimes washington forgets that our constitution sort of delineates their power clearly. we state you don't have the right to do this, but they forget that a lot. david: john, we contacted the department of justice on this issue of this guy who had to give back 1.2 million dollars, they say, oh he pleaded guilty in a criminal case to felony structuring, the word they used of more than $1.2 million, but get this, we looked at a report by the inspector general, the irs, 91% of the forfeitures were found to be noncriminal. 91% of what they're taking are from people or businesses that are noncriminal. >> it's revolting and to sabrina's point, it's an utter per version of what is supposed to be a limited government.
the constitution limits the power of government. stop blaming the irs. irs is a vessel for congress to do what it doesn't want to do. this is a congress problem. >> he admitted, that guy, small business guy admit today making deposits below the $10,000 threshold, know the to other wrongdoing. david: he was encouraged to do that by a bank teller, exactly. trick-or-treat. our informers were the halloween inspired this guy is upping his game by listening to an audiobook on audible. and this guy is just trying to get through the day. this guy feels like he can take on anything. this guy isn't sure he can take it anymore. unwavering self-confidence. stuck in a 4-door sedan of sadness. upgrade your commute. ride with audible. dial star star audible on your smartphone to start listening today. betty called me at she thought it was a fire.
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for my taste, auto parts, safety and electrical. david: e-mack. >> i worry that amazon is eating its lunch. david: amazon is eating everything. that's it for forbes on fox, have a great weekend. thanks for watching. the number one business block continues with cashin' in. liz: does dnc stand for do not cover. some of the mainstream networks downplaying that the clinton campaign paid for the dossier on president trump. the major evening network coverage spend six minutes and 31 seconds covering the dossier news, but spent 31 minutes and 10 seconds of news accusing don, jr. of meeting with russia. is this media bias at its worst? hello, i'm liz claman, welcome to