tv After the Bell FOX Business November 13, 2017 4:00pm-5:00pm EST
steven cell lick is on your board. tell her i said hello. marianne montagne of gradient. [closing bell rings] we see green on the screen. as we speak, the senate is mulling, at least the finance committee, their tax plan. that will do it for the claman countdown. see you tomorrow. david: looks likes we'll be solidly in the green, when you think about ge we are in the green across the board. we had been up 40 points a little earlier today. the s&p, and nasdaq still teetering on the main line there. but looks like all three indexes are good, as senate begins to take up tax reform. hi, everybody, i'm david asman. melissa: i'm melissa francis this is "after the bell." more on the big market movers but here is what else we're covering during this very busy hour. the senate tackling tax reform. the finance committee marking up their plan right now. the house expected to vote later this week. a live update from capitol hill on what we can expect.
meanwhile president trump is on the final leg of his historic asia trip, now in the philippines, talking trade but coming under fire from the left over comments he made about vladmir putin. more republican lawmakers speaking out against roy moore this afternoon as another woman alleges that she was assaulted by him, when she was a minor. among our guests this hour, congressman tom garrett, from the house freedom caucus. harvard economics professor, my professor, marty feldstein. byron york, michael goodwin, "dilbert" creator scott adams. wow. david: dow climbing despite the big drag from general electric. that stock ending the day down more than 8%. let's go straight to lori rothman on floor of the nyse. let's go to what happened. >> ge, gee whiz. announcing a restructuring plan and slashing the dividend by half. slashed the dividend by 50%,
hasn't done that since the financial crisis. ge's stock viewing link 35% year-to-date today. it was off another 7%. wall street not thrilled with ge's plans to cut costs. that is where we're at. ge, a dow component. the dow had been much stronger if not for the news from ge today. let's look at another couple companies in the toy industry. a little bit of a sea change of topics but interesting nonetheless. hasbro is interested in picking up arrival toy-maker mattel. mattel shares soaring 20%. hasbro up 6%. these two would have combined value of $16 billion. mattel, of course, fisher-price, barbie, some of its brands to bring together deal with hasbro "star wars" and disciplines successes. these two are struggling with competition from who else but of course amazon, we'll follow this one for you. meantime send it back to you.
david: the problem if they came together they would be called hazmat. sorry about that. melissa: i love that. senate finance committee is marking up the tax reform bill which could include major changes to 401(k) plans. adam shapiro has the exclusive details. adam, what can you tell us? reporter: look at video from the senate finance committee markup which is taking place as you said. this is expected to last toward the end of the week, there could, could actually be a vote to end this at some point with the chairman's mark, managers mark at the end of the week but let's not get ahead of ourselves. here is what is coming up. you have to the orrin hatch, chairman of the senate finance committee who is going to propose amendments. one of them would eliminate the 401(k) pretax catch-up, replacing the 6,000-dollars catch-up, with a 9,000 dollars catch-up, but you would no longer be pretax. you have to pay tax 50 years or older. eliminate the ability to
transform your current ira, a traditional ira into a roth ira. they would eliminate that. also create a new 12.5% deduction for corporations on dividends that they pay to their shareholders. so you could deduct up to 12-point 5%. hatch is talking about the time line of all of this. responding to critics who say that this aggressive timeline to bring tax reform to a full vote has actually been in the works for several years. take a listen. >> under no objective standard is this bill being rushed or forced through. this committee, through either confessional chamber as i noted earlier, this committee's efforts on tax reform go back years. reporter: critics like democrat and minority leader in the senate smell blood in the water like sharks. they say bring it on with tax reform.
because they don't think this will play well with middle america. here is what senator schumer had to say. >> this tax bill will be at the center of our efforts to take back the house and the senate in 2018. taxes, combined with health care, will be a powerful one-two punch for democrats on the campaign trail this year. reporter: wrap all of this up, republicans welcomed back senator paul, rand paul who came back from his injuries in kentucky. he is still in a bit of pain but he is back at work. back to you. >> will see the house bill pass this week. the senate may actually have a chance to pass theirs before thanksgiving, if not immediately after. so the goal obviously get all of this wrapped up by christmas. i still think, not only are we on schedule there, we're slightly ahead of schedule. david: that is mick mulvaney. the omb chief. could president trump sign the tax bill into law by christmas? here is republican congressman
tom garrett from virginia. a member of the house freedom caucus. congressman, i was shocked when mulvaney said that do you think your bod did house, can pass it by end of this week? >> i absolutely think we can. i find it humorous that anyone thinks that chuck assumer is giving us advice in our best interests, if they choose to believe that, i believe if mr. schumer thinks he is giving us counsel, that is good way to waste his time. david: this week would be done quickly and has to go to the senate. a lot of people take a pause when they look at the senate plan. there are a lot of differences between your plan and the senate plan. how long will it take to resolve those differences? >> the good news this stuff is out in the sunlight right now and we're looking at it to reconcile some of these things. obviously there are differences. there always will be. that is why you have a bicameral
legislative body but the conversations are already being had. any way you slice it, the best argument of open opponents some people's taxes might go up in 2023. they're essentially admitting everybody's taxes will go down until then. as relates to rush to get it through, if we need to work diligently and quickly to stay late into the night to put more money into pockets of hard-working americans that is what we ought to do. david: here is one of the problems from the senate plan. it is also about simplification and growing the economy and simplifying the tax code. that is big part of it according to senate trump. what the senate plan does maintain seven tax brackets. if you want to simplify the tax system you have to cut number of brackets, other wise you have bracket creep and whole lot of other problems? how do you resolve that difference? your plan has only four brackets theirs has seven? >> i like fewer brackets than
more brackets. i like 10%, bracket, instead of keeping up the rate to 12%. we'll never get a bill everyone loves. that is good thing because then you have a autocratic regime. the net here needs to be we're reducing the burden on working americans and job creators so that we can grow this economy because if we don't get spending in check, only alternative to grow revenue by growing the economy. the other good news weave seen back-to-back plus three gdp quarterly growth first time since the bush administration. david: we have. a lot has to do with the work the president has done already with deregulation. >> you got it, there is a plan by the senate to delay implementation of the tax cuts at the corporate level. we have seen delays of tax cuts in the past stall the economy. that is what happened in the '80s. that happened with the gw bush plan f we stall the tax cuts we may stall the economy. does that worry you? >> absolutely worries me. having said that ultimately my job is to do the best i can
insure posterity inherits something if not better than what we got. this is generally speaking a step in the right direction. if we want to get into the things i don't like, i don't like student loan historical credit or historic preservation tax credit that impacts my district. david: are any of these issues, we have to wrap these issues deal breakers? if the senate insists delaying corporate tax cut, which could stall the economy, that a deal breaker to you? >> i haven't committed to yes on anything yet. i don't kiss on first date. having said that we need to put more money in people's pockets which spur economic growth and revenue growth which means more prosperous america. i'm trying to find a way to get to yes. david: congressman garrett, thanks for coming in. >> have a great day. melissa: today's panel, liz peek from the "fiscal times." adam lashinsky from fortune. he is also a fox news contributor. i have to tell you what is frustrating about those conversations when they're
talking about putting more money into someone's pocket, they're putting it there by taking it out of someone else's. you say, why can't you guys spend less? that is not what this is about. the rules prevent us from spending less in this round. rules they created, liz peek. so, i mean when these conversations go on, what do you think about these things? >> we'll not get to cut cutting costs anytime soon. melissa: ever. >> right now they're fluffing the up the pillows looking for quarters to make sure everything bothers. there are a lot of things i don't like about the senate plan including ones david mentioned you have seven brackets. when you watch speeches trump made about tax reforms. the biggest cheers for simplifications. seven brackets does not denote simplification. i don't like a lot of stuff going on. you have to keep your eye on the big plan. the big plan basically help corporations invest in america and provide jobs and provide
higher next. there will be a lot of stuff that you and i don't like about this let's hope we get to the big result. i think we will. the acceleration here is impressive. melissa: but i wonder if there are enough people who like what it is out there? adam, the president won by having big ideas and making them very simple. and this is small tax cuts and it is very complicated. it is sort of the opposite of everything, seems like he was always about. does he sign this? do his people support this? does it have enough support at all? >> i totally agree. i was listening very carefully to what orrin hatch was saying and i found myself getting confused. which parts of this is he talking about? when you win people go line by line, well, there will be a lot of winners and a lot of losers around sometimes the winners will be losers -- very hard to get your arms around it. melissa: yeah. >> as i was listening to liz talk, i'm thinking the republicans are approaching this
in very similar way the democrats approached obamacare. just get a bill and whole bunch more people will get insured. they had their caucus together far more than the republicans do. so i'm not optimistic about this right now. melissa: gosh, liz, i hate to admit it does sound like that. let's get it so we get the bill going. here with the math you have some winners and losers, some surprising losers. you're just shifting money from one pocket to the other, fluffing up the cushions. >> let's not forget you basically bring down the corporate tax rate from 35% to 20% that is huge, huge gap in revenues that needs to be plugged. that is what this is all about. let's remember we would not be here if not for john mccain asking undoing of all the obamacare fees. that put us in the bind if you will. i'm frankly amazed. to me the big thing is sult -- "salt" deductions and whether or
not the blue state gop representatives will go along with that that is the biggest nut to still crack. they're all singing from the same hymnnals, that is very unusual for republicans. >> i don't think so. melissa: to say for individuals pay for corporate rate tax that is what you said, a whole gap that has to be plugged, that is very irritating stupid way to do business that they made up when they could be spending less. we could grow the economy. there are other ways to solve that problem other than taking money out of someone else's pocket. seems counterintuitive. we have to go. i owe you extra one. adam, final word, final word. i have to be fair. >> i think this will be very unsatisfying to voters. it will be difficult for even the republicans to unite behind this. melissa: guys, thank you. appreciate it. david: don't delay those tax cuts. you delay the tax cuts, delay the growth in the economy. it is that simple. melissa: yeah. david: the world's largest retailer may need to rethink its major slogan. why walmart's always low prices
may actually not apply when it comes to the online sales. the thinking behind a very controversial new strategy. melissa: donna brazile getting back up after she claimed the democratic primary rigged for hillary clinton. is this finally the proof democrats can't deny? "new york post" columnist michael goodwin sounds off on this. david: president trump promising a big trade announcement when he returns to the u.s. asia nation, giving him historic treatment on trip abroad. mainstream media chooses to focus on something else. byron york with his take. >> red carpet like nobody ever has received that is a sign of respect, perhaps for me a little bit but really for our country. copd makes it hard to breathe.
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melissa: more calls growing from republicans for roy moore to drop out of race for alabama senate, including the head of the national republican senate committee now. this as new allegations against roy moore, a second woman, just coming forward accusing the senate candidate of sexual misconduct when she was a minor. fox news's jonathan serrie is in alabama with the latest. jonathan. reporter: melissa, the latest accuser is beverly nelson young. she says she was a teenager she worked at a restaurant roy moore frequented. he would often flirt with her. she worked there 15 and 16. it was shortly after her 16th birthday, she was outside of her restaurant for her boyfriend to pick her up, to take her home. boyfriend was running late.
roy moore said he drove her around to the back of the restaurant and where she said things went wrong. take a listen. >> i was terrified. he was also trying to pull my shirt off. i thought that he was going to rape me. reporter: flanked by attorney glorida allred, a new accuser came forward, claiming roy moore sexually assaulted her 40 years ago shortly after she turned 16. the moore campaign responded immediately calling alred leading a witch-hunt and innocent man who has never been involved with any sexual misconduct with anyone. today judge moore's wife kala weighed in. this is just before the alred news conference but when she learned that arlred had scheduled a news conference. referring to the initial accusations in "washington post," his polling numbers did not change.
so do you think they will let up? we knew something was coming. just did not know what's next. now former u.s. attorney doug jones, the democrat running in this race, says moore needs to address all of these allegations individually, rather than doing what he has been doing, which is blanketly denying all of them. when asked whether his campaign had anything to do with fueling these allegations, here is what he said. >> absolutely not. absolutely not. that is, that just another in continuing pattern of absurd statements that moore and his campaign have made. reporter: with no signs of moore dropping out of this race, he and jones are scheduled to face each other in the general election, december 12th. melissa: what a story. jonathan, thank you. david: meanwhile overseas, president trump is in manila. he is on the last leg of an asian tour, focusing on new
trade deals, reinforcing alliances, solving region's increasingly volatile crisis with north korea. here with more on the president from the white house is fox business's blake burman. blake. reporter: hi, david. president embarking on final day of the rather lengthy trip overseas. five different countries in the indopacific region. just about every stop the president talked about need for new, fair, reciprocal trade deals. that continued earlier on today, as the president teased an upcoming announcement. president trump saying wednesday here at the white house he will unveil his results involving his overseas trade discussions. >> we have made some very big steps with respect to trade, far bigger than anything you know. in addition to about 300 billion in sales to various companies, including china, we have deficits with almost everybody. those deficits will be cut very quickly and very substantially. reporter: now over the weekend
the president also spelled out part of his brief encounter with vladmir putin while the two of them were in vietnam. the president telling reporters aboard air force one that putin denied any involvement in 2016 election meddling. the president also saying, and this drew headlines right here of putin, every time he sees me says i didn't do that, and i really believe that when he tells me that, he means it. president was then further asked to clarify exactly who he believes? >> as to whether i believe it or not, i'm with our agencies, especially as currently constituted with their leadership. i believe in our intel agencies, our intelligence agencies. i worked with them very strongly reporter: president trump met with the leader of the philippines, rodrigo duterte. white house says president trump briefly brought up human rights issues though a spokesperson for duterte denies that. david: blake burman at white house. thank you.
melissa. melissa: here is to react on the president's trip, byron york, "washington examiner" chief political correspondent and fox news contributor. let's start with the whole back and fourth on russia thing. former intel chief slamming him. here is what he had to say. let's play that. >> i think mr. trump is, for whatever reason, either intimidated by mr. putin, afraid what he could do or what might come out as a result of these investigations but, either naivete, ignorance or fear, in terms of what mr. trump is doing vis-a-vis the russians. melissa: byron, does that sound plausible to you? >> i think this is actually more of a press story than anything else. you know when trump was first asked about this, it starts blowing up on twitter. it was blowing up on twitter on the basis of snippets of trump's statement that were being picked up from the white house pool, then being thrown around, it wasn't the whole statement. became clear when you finally saw the whole statement, on that first day, that trump was being
a little ambiguous, basically saying well, putin seems to really believe that he didn't interfere and i believe that he believes that. wasn't clear way to speak. there was a lot of blowback. you saw some of it from john brennan. the next day you just played, trump said look, i side with our agencies. so it was almost much ado about nothing but it took two days to work itself out. melissa: i always think it is interesting, when we see the media and press, analysts whoever, hyper analyzing that is said and done at scenes like one we're watching on screen right now, tell me, if i'm wrong, i feel like on international trips meat of what is happening is behind closed doors. they wouldn't be telling us especially as it is happening about the quiet conversations that are happening behind closed doors and on the sidelines. isn't that what counts in international diplomacy? >> sure. what counted in this leg of the
trip was trade, and these russia questions weren't about that at all. but once all the confusion happened, of course the next day, it was i believe john roberts of fox who asked, let the president kind of clean this up, what did he really mean when he said that. two days of talking about russia, when the news was about trade. melissa: yeah. speaking of trade, so the president teasing a big deal of some type. listen to what he had to say. >> a lot of things are happening on trade and i'll be announcing pretty much what happened here, and also with other meetings including china, and south korea, lots of other places. we'll be announcing that for the most part in a statement, i will make it from the white house. melissa: so this is one of those things critics say a lot of deal he is claiming credit for, were already done, but sending a signal this is what i'm about, yes. >> if it happens during the president's time, regardless whether they were in the works,
he gets to take credit for it. that is the rule. this is kind of classic trump. tune in for the exciting conclusion on wednesday. melissa: yes, right, exactly. >> so that is just show man in him. melissa: it works. to good effect usually. we have a finale for the series coming up on wednesday. don't miss it. set your dvr. way byron, thank you very much. we appreciate it. david: it is showtime, folks. melissa: something to that. david: president trump won over middle america. can he use the same plain talk to get it done? scott adams creator of "dilbert" comics, he predicted in 2015 that trump would be president. we have his take. looking at hillary clinton and james comey, michael goodwin here on that fallout.
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that dared challenge hillary clinton for the nomination. we always thought that the fix was in with the dnc i know i felt that way through the whole course of it. david: former democrat presidential candidate lincoln chafee telling me over the weekend he agrees with former dnc interim chair donna brazile's claim that they rigged campaign. joining me to discuss this michael goodwin, "new york post" columnist and fox news contributor. a lot of democratic party are coming down on the head of donna brazile because they're pro-clinton. not lincoln chafee. he agrees with her. >> fundamentally what donna brazile has done is a great favor to the democratic party because what it does, it points out, reinforces all weaknesses of the clinton canada say the last time. basically says we can not go forward with this person as our leader. she hasn't put it in those terms. that is the effect of the portrait she draws a corrupt person, full of deceit
everywhere, that they lied to her about the pneumonia and everything. david: yeah. >> they had the rigged system, vis-a-vis bernie sanders and other primary candidates. david: it also fills in some of the gaps about this fusion gps and the trump dossier story in the following way. hillary's campaign, as brazile pointed out largely controlled the financing of the dnc. so hillary's campaign hired fusion gdp to get dirt on donald trump. fusion gbps went to russia, some affiliated with putin, to talk dirt on trump and that turned into the trump dossier. now hillary clinton says i didn't know about fusion gdp but you were in charge of finances. >> john podesta doesn't know anything. debbie wasserman schultz, she was head of dnc, she didn't know anything. nobody knew anything? come on. david: there is connection between fusion gps founder and glen simpson goes way back. some say this is exactly what
mueller is supposed to be investigating talking about russia influence on our election. this would be a perfect example of that. no sign that he is looking into this, to which people like congressman jim jordan say, this is why we need a different special investigator other than mueller. he was on fox news earlier. let's play that tape. >> when you have all these questions, let's appoint a special counsel. we think mr. mueller is inherently compromised. appoint a special counsel to get answers, not about jeff sessions. about getting answers for the american people. david: do we need another special counsel to look into all this? >> i think if mueller was doing his job, which is to examine all of the even -- events of 2016 relates to russia and trump campaign you would have to include the fusion gps you would have to include the fact that the democrats paid for it. you would have to include how the fbi started counterintelligence investigation on basis of the dossier. david: speaking of fbi,
investigations into the uranium one deal, was never shared, if it was shared didn't stop the deal from happening. >> mueller was running the fbi at this point. for part of that listens i think that any fair look at this, jeff sessions had to recuse himself because of his involvement in the 2016 campaign. i think mueller has even more conflicts of interests than sessions did. so, are we going to have a lower standard for somebody investigating the president of the united states? i think not. i think we do need a clear, fresh look that is not encumbered by partisan conflicts of interest. david: maybe time for sessions to go back to alabama. that might happen, by the way from what we're hearing today. good to see you. michael goodwin. melissa: president trump praising republicans in congress getting work done on tax reform. is it enough to get it passed? we talk with harvard economics professor, martty feldstein about the effect different tax reform plans have on the economy.
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>> we want people to keep more of what they earn regardless whether, wherever they live, including in these high-taxed states. that is why we keep the home mortgage deduction. we keep the charitable deduction. we restore $10,000 of the property tax deduction which is twice the national average. melissa: so that is congressman kevin brady making big promises for tax reform on "fox news sunday." the texas republican leads the house ways and means committee
which wrote the tax reform bill. he says the house won't accept a bill that gets rid of the property tax reduction. let's bring in my favorite heart individual economics professor, martin feldstein now. you you were trying to convince me during the break, better than not doing. all the nitpicking it taking somebody -- money from one pocket to another. >> the biggest thing is the corporate tax rate cut from 35%, down to 20%. that is one of the lowest. that will have a big, big effect attracting capital to the u.s., to corporations, investment. melissa: delaying delaying thatd idea or stupid as hell? >> there must be a way of spending $130 billion. melissa: they could spend less. >> i don't think that counts. the 1.5 trillion -- melissa: i'm not surprised. they make the rules. so you're right.
>> they make the rule. the rule is they have to keep the deficit from the tax cut under 1.5 trillion. if they don't do this, but why the child credit, which is, you know, giving child, giving credit to people who have children even if their income is pretty high? that is silly thing. melissa: i'll tell you why. because of the stupid rules they have created like you said that they have made this problem for themselves. they can't even cut spending, but they have to plug the hole with money from somewhere else. it creates all these bizarre, weird -- >> credit is not cutting. it is adding to the cost. i mean it's a very expensive piece of this bill, is to give middle-class families who happen to have kids an extra credit. melissa: yeah. maybe they think it would play well talking about all the other things taking away. >> i'm sure it plays well. melissa: what do you think about sticking it to the states where they are spending a lot? i mean there is a logic to that for sure.
they're trying to make the argument, places like new york send a ton of money to the fed. so they're getting taxed twice. what do you think of that response? >> my sense is, that deductibility of state and local taxes, gives me a big incentive to want to have more state and local services. so i live in a town where, things are great. on exciting pool. indoor ice skating rink. roughly $67. it is all tax deductible? if we didn't make it tax deductible, voters in my town, wait a second, let's hold back. melissa: we might not need all the stuff. like in new york where we spend 25% more. things are horrible. everything is gone to heck in a hand basket. i digress. this is the hope i'm holding out for. we'll see growth as a result of corporate tax cut. do they come back and take
another bite at the apple if this is successful in if this is another term. do they cut some income tax more? >> i don't know about that. we had a big tax cut in '86. melissa: yes. >> it has been eroded. we've gone from a maximum rate of 28%, to 40% now. would be nice to move back in that direction. melissa: right. it would be nice. but you're saying you don't think it is going to happen? >> i don't know. what i'm focusing on now is the current bill. melissa: okay. >> which i think it's a big plus. >> made me feel better. i appreciate it. professor feldstein, thank you for coming in. david: did your professor talk you into it a little bit. melissa: i feel better. david: i feel better because you're better. walmart is raising prices on their website. they say there is a method to their madness. stay tuned.
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melissa: breaking news. shares of buffalo wild wings soaring after-hours, 28%. can you imagine? after reports from "wall street journal" private equity firm row arc capital made a offer of $2.3 billion for the chain. good for them. david: that is what an offer will do. walmart taking a new approach to online sales. they're making some items more expensive on the website than in the stores. the company says it is part of a strategy. they hope it works but we don't know if it will. jeff flock explaining why from outside after walmart superstore in coke sy, illinois, remember that name. jeff, good to see you. reporter: good to see you, david and melissa. the strategy is, one, we don't want to lose a bunch of of money for free shipping with online items and two we want to bring people back into the stores because they will buy a bunch of stuff. look at some of the numbers.
"wall street journal" first flagged this, walmart was doing, which is lowering prices in some cases on in store items and raises prices online. let's first talk toilet paper if we may. angel soft, nine double rolls, on line, 6.02, but in the store, 4.97. fruit snacks from motts. 7.02 online, the store, 5.88. you save a buck. big rice crispies, 4.93, to 5.88. bottom of tide, 10.42 in the store, 8.97. some cases the prices are lower in the store than amazon, in addition to the online price war they have had between the two of them. this kind of gives them another option, and i would say, one thing that walmart has, that amazon doesn't, is bricks and mortar. if you bring people into the store, maybe you go in for tide,
come away with hamburger help per or whatever else. david: i don't know. trying to compete with amazon, that is a tough job. melissa: yeah. david: jeff, thank you very much. good to see you. melissa: $50 million? that is how much money nfl commissioner roger goodell is asking in contract negotiation with league owners. $50 million a year. espn reports that goodell also wants the lifetime use of a private jet, and lifetime health insurance for its family. cowboys owner jerry jones says this request needs to be adjusted, while another owner calls his salary request, offensive. so in the year that all these things happened. david: i know. melissa: everybody is so upset. viewership is down. david: viewership is down. but, again, you start at the top. look at the "art of the deal." you make the most outrageous offer you can, whittle your way down. if you can get it from them, good for him. he called president trump's landslide victory. the creator of the comic strip "dilbert," says he risked his career betting on the
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in 2015. good for you on that prediction, scott. donald trump said kim jong-un, 95% of the same sane world sates, only people that like him are absolutely insane, this is what drives the establishment crazy because they think he needs to be diplomat take people like un but most of america says to hell with him. that is exactly way you talk to somebody like this, right? >> i think half of the country thought his tweets and nicknames were with a wink and a smile. there was always a little humor to them. this is the first time he is actually winked at the entire audience. it is obvious he is joking on this one. david: yet, aren't you surprise, scott, forgive me, aren't you surprised how seriously the mainstream media takes him. >> yes. if you don't know that he is kidding, it can be pretty frightening. i think that in this case he is actually making it clear to everybody, that this is a at least a little bit theater and a little bit fun. i think kim jong-un is probably
going to get the message. by the way, notice he didn't call him "rocket man." he upgraded him. he also joking with him. there is a little pacing and leading going on here. my background for those who don't know, i'm a trained hypnotist. i've been studying persuasion in all its forms. david: you say the premise of your book, he used these powers of persuasion to get elected. we're in the governance stage now. we're out of the election campaign. do things like this, like this particular tweet, more are coming, do we know it, do they help him to govern? >> i think you're seeing he is having best success in those areas where he has the most direct control. things that congress does. he has a little less success. but, in war on terror, immigration, the economy -- david: you think he is doing great in the economy, right? >> yeah. those things are looking very strong. part of is his persuasion. you notice he was talking about the gdp he says the gdp was 3%, that is great.
without the hurricane it might have been four. i think we can do four. that kind of talk makes people invest today because they say, if it is going to be four next year, i have to get ready. that becomes self-fulfilling. david: but the question whether he can use that kind of talk and power of persuasion to get something done as you say? he hasn't had a lot of effect on congress but get something through. now we're dealing with the tax plan. there was another great communicator, 40 years ago, who had to reach out to the public, go over the heads of congress to sell the plan. it was ronald reagan. he did so successfully. his 86 tax plan, he got on airwaves in 85 to try to sell. let me play a clip. get your reaction. play the clip. >> i believe in spirit and substance our tax system has become to be up american. how would the proposal work? the present tax system has 14 different brackets of tax rates ranging from 11 to 50%. we would take a giant step toward an ideal system by
replacing all that with a simple, three-bracket system. david: a very simple explanation, going to the heart of americans, what makes americans, americans. do you think that donald trump could do something clear like that? >> you know the problem is that congress is not giving him something simple like that to sell. right now people are looking at it, i was looking at it myself, i thought, well, i'm giving a little here, taking a little there. melissa: right. >> i can't tell what it is doing to my taxes. he will not be able to sell a complicated plan, period. melissa: right. david: he is coming back from asia now. i'm wondering if somehow he can knock these people's heads together and get something a lot simpler, because they have no message of persuasion, do they? >> no. congress has no game at all when it comes to persuasion. they're really going to depend on him to sell it. if they don't make it simpler it is not sellable. melissa: right. david: scott adams, "win
bigley." why he has so much common sense and it is in the book. >> was so right. that is so good. so right. david: absolutely. senate majority whip john cornyn withdrawing endorsement of roy moore. i believe the accusations against roy moore, are disturbing and if true, are disqualifying. most appropriate course of action, leave the final judgment in the hands of alabama voters where it has always belonged. i withdraw my endorsement. david: very interesting. melissa: very interesting. david: we have breaking news coming right after short break. we'll be right back. so you can head into retirement with confidence. brighthouse financial established by metlife. [lagale force winds,s absolute chaos out here! accumulations up to 8 inches...
only three players over the weekend. he deserves it much more. it's not controversial enough. not only on schedule there but we are slightly ahead of schedule. every group gets it here. i think you will see the house house bill passed this week. if not immediately after. does it actually cut taxes. and what will be conducive to producing economic growth. the top 1% are going to pay a little bit more of the burden. the goal obviously is to get all this wrapped up by christmas. republicans now on track to meet their deadline for a tax reform vote around thanksgiving. we had live action coverage on the state