tv Forbes on Fox FOX News November 12, 2016 8:00am-8:31am PST
n't go up just because of an accident. starting the day you sign up. so get accident forgiveness from allstate. and be better protected from mayhem, like me. are you kidding me? hey, everybody. do you know it is national pizza day, week, day? and i'm down to two pieces. the "fox and friends" folks when i came in early this morning had box after box after box. 20 different flavors. you name it, whatever we can do for them. not a single one of them italian american. not a single one. lovely people, lovely people. but on this day we are joined together to try to get over our
differences and i think pizza is the great emotional unifier. i am left with two cold pizzas.? you're too busy, you're eating. amazing. amazing. here i have a great guest, one in the studio who probably would have liked to have this pizza. we will get to her in a second. meantime, we are not feeling the love out in the nation here, post election. everybody should have a pizza. people are nuts over this election. on the left, on the right, can't we move on. we found out in washington, despite principles involved trying to be classy about this, with all of the protests and everything else, a little bit not so much. a lot of that, garrett, has to do with stuff that a president trump will likely jet son, right? >> absolutely. it is like pizza. not everyone likes anchovies.
when you get them on there, sometimes you have to throw them out. for months, the president was saying his legacy was on the line in this election. now much of that legacy is likely to be undone. parts of it could happen very quickly as well. president-elect trump made it a focal point of the campaign. once he takes office, he is bounld to overturn his executive orders which leads to millions of undocumented immigrants, including those brought into the country illegally as children. mr. trump has also vowed to repeal and replace the president signature accomplishment, the affordable care act. however, after meeting with the president on thursday, he now says there are several aspects of the law he would like to keep. >> when you replace it, are you going to make sure that people with preconditions are covered? >> yes, because it happens to be one of the strongest assets. >> you're going to keep that. >> also children living with parents extended period. very much try to keep that.
adds cost but it is very much something we're going to try and keep. >> that raised a lot of eyebrows when folks heard that. republicans in congress previously support both those provisions as well and they include them in their proposals that were vetoed by president obama. other signature legacy items mr. trump vowed to undo, trug trans-pacific partnership trade deal, iran nuclear deal and large number of regulations around energy production, including the u.s. involvement in paris climate accord, which would curb greenhouse gas emissions. energy sector feeling positive about that. expect him to go through a lot of ink first 100 days, neil. >> thank you very much. i liked the anchovy analogy, it worked for that segment, my friend. meantime, whatever is going on, the markets are clearly liking the type of things discussed and type of issues that president trump would potentially address.
dow down 3% on the election, midway through election night they were tanking on confusion over the prospect of a trump presidency when it looked more and more likely. so for financials, biotechs, different reads across the board, but generally up. what now. trump economic adviser, steve moore, and larry glazer. i wish i could share pizza with you here, it is cold. >> i don't mind a bite of it. i don't. do you mind if i take one? >> i do. it is cold but i wanted it. all right. what do you want, the pizza looks cold. what about what donald trump wants to do in markets, thinking that that could be good. >> two things are happening with the markets now. one, that it is being led by health care stocks. there's a lot of drug companies that feel or investors feel drug companies because of potential reorganization slash repeal of
obamacare will have a positive effect on them, and infrastructure stocks. he has gone out there saying he wants to reinvest in the infrastructure of the united states. we are seeing a real boost in stock price for a lot of steel companies, things that you would use to build this infrastructure. the problem that arises is when he goes out and has to renegotiate trade deals. that's when it becomes a little dicey. if you go out, renegotiate trade deals, price of goods imported back into the country are going to rise. the core demographic of the trump voter are buying disproportionately less price goods. when you go into walmart, for example, which i cover, you go in and see walmart has effective pricing, low cost every day. that's going to be more difficult for them to have those lower prices. >> if you get from places like china and places. threatens that.
you addressed this as advise or to the candidate. how much of that does he want to follow-up on or try to pivot on that a little bit. what is it? >> couple of things. first, neil, the fact that so many people who were thought to be experts on the markets in the weeks preceding this election said if donald trump won that we would see a collapse in the stock market. obviously we did on election night, but the last four, five days has been about the best period in the stock market we've seen in a long time. just as political pros got it wrong in terms of polls, they got it wrong about the outcome. a lot of stock market experts were wrong, too. i would say this, in addition to you talked about energy stocks that are going to do well under trump, especially the oil and gas and coal industry, i would add another one. i think manufacturing is a great buy now. we're going to see a real renaissance in american manufacturing again and we're
going to start making things here in america partly because of the lower taxes. >> getting tough with nations that might be using currency as china has, how real is that, how aggressive will he be on that? >> i think very aggressive. i think he's going to be a tougher negotiator when it comes to trade deals. neil, you know me, i'm a free trade guy, haven't deviated from that. i think the idea of having a guy that knows the art of the deal at the trade table, forcing china and japan and korea and other major trading partners that are running major trade deficits to open markets to us. >> you're right. china definitely has manipulated currency, it is how you respond to that. larry, the fear is he would respond which might be justified and say all right, put this on goods coming here. could get nasty. maybe the threat alone would stop china from doing things like that.
what do you think? >> i think, neil, one of the areas that benefits under either scenario are small businesses. that's one of the reason we saw small companies do exceptionally well in the wake of the trump election. you look at small businesses, they have been left behind in this recovery, they create more than half the jobs and employ more than half the people, yet more have closed rather than open under the obama administration because there hasn't been growth. and it is so expensive to employ someone with excessive regulation and health care costs. tremendous sense of relief. neil, if small businesses grow, employees have more money to spend in retail. it is good for small businesses elsewhere and good for local pizza parlor. more money to buy pizza. this could spread regardless of what happens in the global scene, it is good for small companies. the trade off here is you could have inflation. a little inflation is like pizza. >> i understand. >> quick point.
i agree small businesses, this will be a small business president. i want to remind people. everybody talks about a corporate tax cut. we will bring that rate to 15%. donald trump in those meetings when we met with him at trump tower, said i want to make sure this tax cut benefits small business. 26.5 million small businesses in this run by blacks, hispanics will benefit. >> there's an investment portfolio for baby boomers and investment portfolio for the millennials that don't want to invest in the stock market. i think to your point, you're seeing people reacting to the market, putting money back in. a lot of that is older generation, they're more excited. saying okay, 401(k), retirement will be okay.
we are seeing the investment. millennials are hesitant. i think what we will see is longer term benefit for them in terms of the corporate tax rates, in terms of personal income tax rates. they're going to feel like they have more money. >> they ought to invest it but they don't. >> in small businesses, pizza parlors. >> there has been a movement to drain the swamp, a key theme of president-elect trump. mitch mcconnell cusaid there ar effects, called elections. he didn't agree with the push that donald trump will have to get term limits going and to change the culture in washington. as i said, draining the swamp. does he have a fight coming with the senate republican leader after this.
i am not saying there's trouble in paris, i am saying they went out of the way to greet the new leadership. not all cope set i can with president-elect trump's ideas including draining the swamp because they live in the swamp, especially when it comes to mitch mcconnell who differs with the incoming president first and foremost on term limits. donald trump thinks it is a good idea to have term limits, avoid people staying in the swamp and overstaying their welcome, to which mitch mcconnell says we already have term limits, they're called elections. similarly, the republican senate leader was saying when it comes to infrastructure and early priority of president trump, not going to happen right away, the words from the senator's office, something that is not a near term priority. maybe that's splitting the line over something trivial, seems
clear to me those that have been there awhile aren't keen on some of the president-elect's ideas and how that's handled might depend on people like this, florida congressman desantis that won a third term. glad to have you, congratulations. >> thank you. >> there are differences, these might be the notable ones he might have with the senate leader, but if donald trump were interested in addressing infrastructure right off the bat, mitch mcconnell seems to be saying not happening, at least not right off the bat. what do you think? >> i think infrastructure, there may be some disagreements about how you do it. a lot of us want to have more done at the state level. i think those are legitimate but i think when you talk about something like term limits, those are long overdue, i think donald trump was very wise to embrace term limits. you're right, the people there by and large don't want it. to say that you have elections
overlooks the fact that incumbents draft rules to keep themselves in office. so yes, you have elections but it is very easy for incumbents to put the playing field in their favor. i think if he were to do that, what you would see is huge support amongst american people, republicans, independents and democrats. >> you're right. this is the first clash i see coming. i don't want to wish that upon anyone, just saying you have donald trump coming in, addressing what he sees wrong there, and on infrastructure his campaign has always said it's not just about infrastructure spending, it's about trying to woo all this money, to shore up trillions, incentivize that to address the needs. when the senate leader seems to be saying no way, no how, that could be the makings of a fight. >> it could be, but i think there's been broad agreement at least on the idea that we are essentially keeping money offshore disincentivizing people
to bring it back. that is a fix. >> regardless what you use the money for, just allowing it to back, to incentivize it back could be trillions of dollars. no one knows the figure. that could be a huge event. shouldn't that be a priority in the first 100, 200 days? >> we need to recognize we're doing our best, i don't know why, repelling capital. let's try to attract capital. that would be one thing. look, i think a lot of republicans, i think you would get more tax revenue. people would start to bring the money back, and not everyone will want to go ahead and spend that. let's at least make the tax change and then argue about what to do with revenue. to me it is a no brainer, would help with economic growth and domestic job creation. >> congressman, thank you very much. following this closely. the congressman's point, there is a difference now between some of the young guys eager for change and roughing up the system, sort of shaking it up,
those supportive of mr. trump, and the old guard that might take offense to the term it is a swamp. i'm telling you, this is something to watch. the trouble will be not so much with democrats as fellow republicans. we'll see. and we're keeping track of protests that are going. this is one they're getting ready in new york city, planning to protest the fact that donald trump fairly and constitutionally was elected president of the united states. i always ask what do they want to see done. one of them i talked to said for him to go away. well, he's not going away. january 20th, he will be sworn in as the 45th president of the united states. shouldn't some of you go back to class? in your mutual fund. we invested in your fund to help us pay for a college education for our son. we've enclosed a picture of our son so that you can get a sense there are real people out here
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the box is empty and i didn't take it. i hear you sounding scottish. why don't you make the show great again. thank you very much. all right! there you go, there goes tony. >> make the pizza great again. >> take a look at this. what have we got here. now this is more like it. tony, thank you very much. >> you're welcome. >> irish scottish, italian, whatever he wants to be. >> i feel like vanna white. >> there you go. you can recognize that lady, amy holmes.
we have jessica tarlov and you don't strike me as necessarily a huge pizza lover. >> really? is this like a compliment? >> it is a compliment. that's fine. and emily is here, she's missing out on the pizza. >> you don't look like you eat a lot of pizza. >> me, it is a foregone thing. guys, i use the pizza, this is how i operate, as a metaphor because i think everyone needs to take a chill pill, calm down, get over their post election angst, have a little pizza, calm down. yet i am hearing demonstrations across the country after a fairly executed presidential election. miami last night, minneapolis, seen it in portland, seen it in new york, getting ready for another one blocks away. come on, right? >> well, i can understand because the pizza came without toppings which we can argue about. >> i am wondering if i am
looking at people, the candidate didn't win, but they've got to get over it. >> well, here's the thing. i work for rasmussen reports. 48% of voters believed the election was a vote against hillary clinton, not for donald trump. i can understand that people are not necessarily yet absorbing that donald trump is our new president. what they should absorb is that millions and millions of their fellow citizens and fellow americans voted for this man. so when they protest donald trump, they're not just protesting him, they're protesting all those people who elected him and those are your neighbors. >> i wonder if it is -- >> not actually their neighbors. it is electoral college. >> that's a heavy democratic city. they're destroying their own city and base. >> i am all for exercise of the first amendment, do it nonviolently, i am with you. this election will take a few -- >> make a national statement now. >> i said, listen as a big
hillary lover, some of you weren't, a lot of bernie folks out there, please don't be violent. it ruins the whole thing. everyone then talks about the violence and not the message. i do think that donald trump, it is a great opportunity for him to stand up and say i hear you, i see you. i know that some of you are very upset about my election. >> why are you putting the onus on donald trump instead of the mayor of portland, the governor of oregon. >> i put it on everybody. >> the leaders. >> donald trump is responsible for some of this angst. >> wait. emily, he just got elected president of the united states. i'm going to say people are bitter and vote different reasons, it is a protest vote or whatever, he's the winner, that's it. who has to do what or as i think some high ranking law enforcement officials have been saying, let this work itself out. hopefully there's no need for this other stuff.
what should be done? >> what we have been talking about is hidden trump voters that they were able to identify. those are people that turned out exactly because of the stuff. my work was on college campuses, worked for young americans for freedom. i had students sending videos of people yanking them out of classrooms, setting cars on fire, throwing things at windows. it is disgusting, it is not donald trump's responsibility, it is the responsibility of people on the left to say cut it out. >> do you think donald trump should say anything? it is extending abroad. in berlin they have protests going on. i don't know what he has to tell them to calm them down. everyone is afraid or what have you. i don't think i've ever seen anything like this after a presidential election. obviously there were disruptions, constitutional issues brought up, supreme court, but this is ridiculous. is there pressure on donald trump to address this? he has just been elected. who should do what? >> i think there's pressure on president obama, president obama
and hillary clinton need to come out and say -- >> they did a good job, he will kwenlt in stating the american people have spoken. why do we have to keep sort of addressing this through sympathetic statements from leaders addressing sore losers. >> what you're saying is you want americans to grow up. >> i do. a lot of the kids, i know i sound like a father, i apologize. why the hell aren't you in class? >> that's a good question. >> create safe spaces for college educated people to understand democracy. >> switch it around. you would be all over if it were reversed and hillary clinton winning, donald trump protesters coming out with pitch forks and everything else, if they were sore losers, you would be ripping them a new one. >> i don't think so. on the first amendment basis, if anything gets violent, i have a problem with that.
this election no matter who won, we would have issues on both sides. both are hugely polarizing. i am trying hard, i want a slice. >> i want toppings. >> you're torturing me. >> all right. that's why you should live in new york. >> that's about the quality of the slice that i had, by the way. guys, i want to thank you very, very much. this whole transition team and how donald trump deals with this, who is on it, who is going to be handling it. you'll be surprised where they're putting their priorities and who they're putting priorities on on this national pizza day. we just-a move on.