tv Cavuto on Business FOX News April 15, 2017 7:30am-8:01am PDT
>> forget the united fiasco, delta is up. >> jetblue doesn't overbook flights. jetblue up 20%. dagen: they go to china. >> with american strict grambling to make the tax deadline, what about the tax cut? i am charles payne in for neil cavuto, the tax foundation releasing reports showing the house gop tax reform plan would create 1.7 million jobs and boosting comes by nearly 9% but now charlie gasparino, the tax cuts for businesses may not be as big as they expect and the president telling maria bartiroma, the deadline is moving so that is where it is going. gerri willis inside and adam leschinsky also here. what are you hearing you
>> the white house is filled with economists like ben stein. charles: in a good way or bad way? nonjudgmental way. >> been is one of the smartest guys i know but there are no supply-siders in the trump white house. in the republican leadership positions no one is using dynamic account, let's cut taxes and be revenue neutral and a massive tax cut for businesses, it is a good thing since it is the highest in the world, we need to somehow do healthcare reform first and if we can't get healthcare reform and savings we will ratchet stuff back but the plans we talked about, not doing corporate tax cut at all but a
repatriation, what they might have to replace it with, repatriation, to repatriate profits overseas and tax at a lower rate used for infrastructure payments but you would not use the great corporate tax. andrea: charles: a lot of things are not as advertised, to pay for infrastructure but it is getting more complicated, not less. >> here is what is going on, why you can't do big big tax cut, you don't have the obamacare reform that had 20 taxes in it, $1 trillion worth of taxes. if you reset that, all kinds of big tax cuts but we are waiting waiting waiting, never going to happen. charles: of people expecting tax cuts, corporations and individuals, this is one campaign promise that must happen. >> i think it should happen.
most of my life savings are in corporate slots. we like the idea of the corporate tax rate being that. there never was a good reason for there to be a corporate tax at all. they are owned by individuals and groups of individuals, they should be taxed at that level. there is no evidence supply-side works which it is on the supply side. and economists believed in it. but it doesn't work, it doesn't work. charles: a lot of people who voted for donald trump felt this was the second coming of ronald reagan, ronald reagan's success around the belief or the myth of where you come from that supply-side propels this economy for many years after his presidency. >> i know this will go directly to charlie's head but he makes
an excellent point about their not being -- supply-siders in the white house, nor in the house with the exception of speaker ryan and what the president is facing and the reason he is doing it, what charlie is advocating, the same revolt on his hands with the deficit hawks and the health care bill that failed. >> that is why you do healthcare first. charles: to your point remember this week when all the ceos met with infrastructure, they came out with a sobering tiffany to your point, to bring back healthcare first. >> this is an important first step not because just because of the money but people who voted for the president that i understand what is going on, making good. >> it would be nice if
republicans did this. they were worrying about the cbo. how time was he handling -- charles: not sure how he got power the first place. >> where their numbers came from. >> they get everything wrong. i want to know why the republican party turned into a bunch of wases. >> i think you are wrong. the freedom caucus sees itself as principled, they believe the things they are saying which is why they voted against the president's plan on healthcare and they won't support the tax-cut. with be a deficit hawk? do we want to pass on to our children and grandchildren and bankrupt america? the way we are heading this country -- >> under ronald reagan maybe you don't remember this but the deficit went down after the tax
cuts. >> wait a minute. we both have gray hair. we have been over this. the deficit went way up in the first three years. he had enormous taxes. >> he didn't change the upper rate. >> took away the loopholes. believe me, i knew those loopholes well. charles: holder the second. part of any new tax cut/reforms will probably include getting rid of a lot of loopholes, deductions and things like that so -- it might actually need the upper at salon folks will net nothing out of this. making it more politically palatable. >> the interesting twist that is
going on, everyone talks about trump being the incredible conservative, the reality is he strive besides of the island his policies would not be a benefit to the wealthy and when you look deep into how he wanted to report taxes there are elements that don't help the 1%. absolutely true. the fact the democrats don't sign on to this is amazing to be. >> we don't need help. >> why do we need loopholes, loopholes distort incentives. and some of that -- >> they help people buy houses. it did not cause the housing crisis. charles: we are going a little too far -- gerri mentioned the role of democrats. of donald trump is moving more to the center/left, where will the democrats meet him? they have some responsibility to
the thing we call governing. >> that is a funny statement to be making but i will answer your substantive question which is where will they meet him? specifically about corporate tax, i many would be willing to meet him on corporate taxes but not all taxes so that is what he has to play with. charles: it has to be corporate taxes, tax reform and repatriation. 15% is out. >> it depends. to your point, they get healthcare done, 15% to 20%. where will that money come from? >> if they get healthcare done. this is what i am hearing and they are saying and they are going to do it if they get healthcare. if they don't get healthcare done, orbits are off. andrea: where do you think the
rate could go as far as getting something done in washington dc? >> as far as i am concerned, the lowest rate should be 0 but the top 1% i don't see any reason the rates should go up a lot. of people are rich they can afford to pay taxes. charles: on the corporate side. >> the corporate side should be 0. >> three out of four is not bad was the security council failing to pass. gas attack and that has some asking if they can't even agree that is wrong can we all agree? >> the white house combining military pressure with tougher economic sections on north korea as china finally putting pressure on its neighbors and how to get the rogue nation back in line. is american scramble to fill up confusing tax forms by tax
deadline day we will show you a simple postcard size tax reform we could all be using soon. we will see you at the top of the hour. but with added touches you can't get everywhere else, like claim free rewards... or safe driving bonus checks. oh yes.... even a claim satisfaction guaranteeeeeeeeeee! in means protection plus unique extras only from an expert allstate agent. it's good to be in, good hands.
>> fox news alert, in washington a federal judge has blocked a plan by arkansas to carry out 6 executions over 10 days. the state process to execute the first on monday night. arkansas says the fast pace is necessary and one of the drugs used will expire at the end of the month, critics challenge the plan in court calling it inhumane. overnight a massive show of force by the road regime holding the military parade including thousands of troops and missiles, provocative display of it fears of an imminent nuclear test. greg olcott. >> military might was heard today at a parade marking the
anniversary of the founder of this company, that is the country. there was no nuclear test to mark the date as was feared, the troops and military and experts, do missiles and rockets, a new medium-range missile and a prototype intercontinental ballistic missile, north korea could develop an icbm with a nuclear warhead and target the united states. we are a couple hundred yards from kim jong-un. this guy, thirtysomething figure, has his country in control, organizing the devotion, not to be underestimated. >> back to him throughout the day.
back for live news at noon on business. ♪ >> russia blockade resolution condemning syrian president assad is in chemical weapons and seeking an investigation into the deadly gas attack, gerri is asking what are we paying them for? >> this is nuts, the eighth time moscow has been able to stand in the way of such a resolution. this would have promoted an investigation to what is going on and masked the the tax on syrian people. the united nations is all about humanitarian acts making sure people are safe around the world, it is astonishing they can't take that small step. charles: the irony is the press conference 24 hours earlier, we need to investigate, we are not
sure if it is chemical weapons. >> what is the un about? bashing is real, it is about bashing the united states, about giving lockwood, that is odd a platform to start off stupidity. we pay for these clowns in new york city, we -- they clog up traffic every day, a useless organization. charles: i'm in the camp that thinks it is time for america to get out of the un and reform a coalition of the willing. >> very goldwater, charlie gasparino, saying get the un out of the us and the un out of the us and a lot more to be said for that and as far as the political body they are useless, they are immoral, they are disgusting. but they do a lot of humanitarian aid, feed people all over the world, we don't want to stop feeding people around the world. as far as taking it is a moral authority they are a terrible
joke. charles: list, the un honestly no one fears them, their abuse around the world is awful as well. >> i get your point completely and disagree. we are slowly coming around, didn't take long figuring out in a period where takes more diplomacy, not less diplomacy. charles: is this true? >> to your suggested it is a reasonable suggestion, we should have a coalition of the willing, getting people together who agree with each other which charles: to resolve issues, not to protect tyrants around the world. >> i prefer to find people forced to come together and argue with each other. >> why not sit in a room with
lockwood ahmadinejad? it is like a therapy session for him to spout off and get something off his chest? >> adam will explain why. >> he runs a large country. you don't have to like it. you are talking -- charles: i am going to go back to gerri because i don't think the un needs to have these conversations, ap report about peacekeepers in haiti. it is ugly stuff. we are being abused. >> we put more money into this organization than any other country, we are really paying for this thing. it is on our tab, our watch we need to change it. charles: public and congressman at a rowdy town hall that has taxpayers saying he is out of
>> not sure that is what taxpayers think, mark wayne mullen telling constituents at a town hall the taxes he pays as a small business owner could fund the salary he makes in congress but you found tone deaf. >> a little tone deaf. he got caught out being arrogant in public with a video camera running. it doesn't matter what he thinks of taxes or what he can afford. we pay people a salary for a reason and they literally work for us. he doesn't seem to understand that. charles: i have a spokesman, spokesperson for the congressman released a statement, the congressman is referring to federal taxes he and his businesses paid. the government over the years, prior to his being in office. like all business owners he pays his taxes which contribute to congressional salaries. the congressman reiterates in the video his work as a representative the second district of oklahoma is a service.
's aspiration is to be a career legislator, not a career politician. i am not sure -- >> good luck not being a politician in office. i don't think he has a choice but i have some soup before him, the man runs businesses, pays $174,000 a year in taxes as a businessman. >> he is still beholden to the voters. >> absolutely. he needs to do their bidding. the idea of service is something people have forgotten about in this country and that is the way the job started, it was service, they were there in washington to do our business. charles: if this was the way we marketed everything you could be president for the next 3000 years with all the taxes you pay. >> to take a contrary point of view congressman and senators and congresswomen and senators
are way underpaid and i don't think we as taxpayers have any reason to complain. they work incredibly hard, paid less than a wealthy investment banker, have incredible responsibilities, they are really really very very -- i don't think we have any reason to complain. very -- charles: they work hard but taking 24 of the next 32 days off, where do you see this? >> i don't know this guy or his politics, i don't know the context. he lost his temper. we want more people like him, we want people -- accountable to the voters. it is -- charles: political independence in this part?
>> the point he is trying to make, trying to do it with the other things, he has a skill set needed in congress. >> my thanks to gerri and charlie, stocks here at home as tensions rise overseas. ♪ knowing where you stand has never been easier. except when it comes to retirement. at fidelity, you get a retirement score in just 60 seconds. and we'll help you make decisions for your plan... to keep you on track. it's your retirement. know where you stand.
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time. have a great weekend. we continue with the man himself, david as superman you know what it is. >> worries are mounting over the north korean nuclear friends, donald trump beating of our navy presence in the region but stiffer economic sanctions and getting china to use trade pressure on its neighbor, the key to diffusing a dangerous situation was welcome to forbes on fox, let's find out when steve forbes, elizabeth mcdonald, bill baldwin, john and austin goolsby, is china the key here? >> if china were serious about sanctions they could choke off the north korean economy so well