Presidents Tax Reform Roundtable CSPAN April 16, 2018 11:11pm-11:58pm EDT
so thank you very much everybody. we really appreciate it. we have made tremendous progress in our country. we are working on a trade deals. they are going to be great deals. we are as you know very tough on cuba. [applause] it's not fair what happened. this is, we are going to celebrate. i love this usa, opened for business. whose idea was this? it was marco. so when for business. companies are moving back into our country. we have going into dollars and even joints of dollars coming back. a 350 billion-dollar investment and a new campus, a beautiful beautiful campus and plants. so many of the companies are bringing back their money and putting it back to work.
we have a big beautiful plant in michigan. it's a whole different story. they want to be part of it but i want to thank senator rubio, a great friend. [applause] mario i want to thank you. [applause] and our secretary of the treasury. he is right there and our secretary of labor. thank you. [applause] not all of my choices were good but they were great once. tomorrow is tax day and we are going to hear from everybody. we have heard from so many people. this is the last time we can put
up that complicated horrible return. i would say-- [applause] some fun at--some of these companies that do all that work and getting a lot of money for doing your tax returns. they are going to be very happy with us and that's the only business that won't be. tomorrow import plain next year it's going to be a one-page, making it a little bit bigger but it will be simple and importantly you will have a lot of money left over from what you have. if we can get one democrat to vote for us and senator nelson was hostile to it. let me tell you if for any reason they get in meeting the democrats they will terminate this and i will veto it and that's a right but eventually
they want to terminate and raise your taxes. we cannot let that happen. it's starting to rock right now with the businesses coming in. it's really starting to rock. we have massive tax reforms and we have had tremendous success from a company standpoint. they have a lot more money to spend. something happen that we didn't expect. it started with at&t. we might as well give them credit. all of a sudden other companies came along and now you have so many big companies that have given bonuses to the people who work for the companies. nobody thought that was going to happen and most importantly you see what has happened with your
wallet. you've been getting a lot more money either week lira monthly checks than you ever thought possible so people are really liking this. it's great for the country. our taxes are the highest or one of the highest in the world from a business standpoint. that's why businesses were leaving. now they are not the lowest that they are on the low side in businesses pouring back into united states and that means jobs. [applause] so we have created since election day, that you do fold it up all day. was that a great day? [applause] we got a big percentage vote over here. since election day we have
created 3 million new jobs, 3 million. [applause] and if i would have said this it would have created 3 million jobs they would have said that's ridiculous. how can it be possible, we would have taken a lot of heat that we have created 3 million new jobs. since election day 3 million new jobs. unemployment rates, hispanics. are there any hispanics in the room? [applause] for hispanics we have the lowest level ever recorded. it in other words think of it the lowest level employment rate for african-americans, the lowest level ever recorded and i'm really proud of that. [applause] unemployment for women to lowest
level in 18 years. [applause] so that means a woman and hispanic or a woman and african-american you are really doing well, right? i mean you are really doing well. remember we used to say? what have you got to lose. it was a rambunctious stadium or some in paradise say what the hell do you have to lose, right? and i get criticized by the fake media back there. [applause] i would get criticized for using the word. i've set a heck of a lot worse than that. but larry kudlow is here someplace. where is larry? come on larry stand up. [applause]
he said the economy is entering the greatest boom in many decades. in other words it's now at the early phase. would you say that larry? this could be one of the greatest ever. i think it will be actually because economies are so strong and they are ready to rock. what do you think larry? can you imagine if he said no i didn't agree with that. everybody is going to benefit. [applause] that's right and by the way john bolton is here. [applause] [applause]
[applause] john, that's pretty good today didn't expect that. i'm kind of jealous. are you giving him all the credit? did our generals do a great job? [applause] and you know with way over 100 missile shot down, and it ate didn't shoot one down. their equipment didn't work well you heard the shop or down and then they shot 50 down. every single one hit its target. think of that. [applause]
we have the biggest tax cuts in history bigger than the reagan tax cut, bigger than any tax cut but what else? the individual mandate is gone on obamacare which is about the end of obamacare. we had obamacare beach and some senators went thumbs down. that's all right because alex acosta is come up and this is a plan that a lot of people wanted for a long time. alex when is that tell me to could one of said a--going to be ready when people can do at their groups and corporatists? >> that's right mr. president. we hope to have that by this summer. >> it's going to be incredible. you can get tremendous insurance and the very low cost so the individual mandate is dead.
you know it's funny i said no ... i do that in a person called up who i have a lot of respect for and he said is it true that you were going to get anwr is part of your tax cut plan? it put a lot of things in there. we have anwr and i said it's true. tell me that--about it because i'm not inclined specifically. he said they'll tell you it's pretty amazing. we have been trying to get this passed since ronald reagan. nobody could get it done and no president could get it done. it's impossible. perhaps the biggest event in the world in terms of energy but he said nobody has been able to get it done. as soon as i heard that i called up and i said put that back in the bill quickly. and we got it done. marco, we got it done. it was a big deal and that's a lot of jobs in alaska. [applause]
so just another thing the tax cut is massive and not since reagan. if you look at the whole bill it's bigger than anything we have passed. it's a tremendous asset to our country but we did another thing the cut regulation at a level that nobody is seen in the history of our country. more than any other president. i have been here for 16 months and we have cut more regulations than any president in four years, eight years and 1k 16 years and we are not finished yet. [applause] where roads and highways would take 17 or 18 years to get a permit or not even get approved, 17 years and then they are voted down. we are now looking at getting it down to two years and maybe for one year. nobody is going to say it
doesn't get rejected but if it does is going to be rejected quickly. don't spend an entire lifetime getting something approves. i've had projects that have taken years. fortunately they got approved but i have had projects that took four, five or six years to get approved. building projects. if these people don't vote for it i've wasted millions and millions of dollars and i've wasted five or six years of my life. you know if something is good and if it's going to get approved. we have the biggest regulation cut and i'm not so sure the regulation cut isn't more important than this massive tax cut that it's right up there and we are continuing to go. we think things that some games take to get--decades to get approved and again if they are not environmentally good or they are not safe and it's not great
for water in the air and all the things that we watch that with the are so important we are going to approve it. we have many jobs that would have never started. that's why you see the job numbers the way they are. the job numbers are through the roof and the training numbers are through the roof. they don't talk about regulation much. i think it's as important as the massive tax cuts. i just want to let you know that business and consumer confidence in our country it is an all-time high. larry just be me the numbers and there's nothing close. we are at an all-time high. the tax cuts were a family, let's talk about families now. we are creating choice for our great veterans, choice. it's a different kind of choice. [applause] it's a different kind of choice.
this is choice for a job. in the past you were doing great in new tab one job and you didn't really have a choice. people are hiring and wages for the first time in 18 years are going up. i came down here and made a speech. wages were stagnant and going down. 18 years ago and today they are working two and three jobs. the first time in two or three years were wages are going up. congratulations. enjoy your money. so today we are joined by florida as his owners who are experiencing their incredible result of the tax cuts and i'd like to invite each of you to share some of your stories. let's start at the end of the table. he looked like a very prosperous guy. >> my name is el portel and i'm latino american descent. born and raised in hialeah, florida, very popular.
[applause] my father opened palmetto export in 1992 and i was successful and took the company over 2004. because of the surging economy have in florida have been able to invest in newer technology and able to buy more equipment and hire more employees for my business. mr. president is one to say thank you for making america great. [applause] >> thank you very much. marco you have been such a help. i'd like to say a few would pay. >> thank you mr. president. being here i would be remiss if i didn't first thank you for being the cause of--and democracy. [applause]
whether it's on cuba or venezuela the united states is-- and i want to thank you for john bolton. they said that they do day he was hired was a bad day for maduro and castro and a great day for america's freedom. [applause] i want to thank you for fighting for the american worker because behind all these businesses i'll be the first to tell you the american worker has been forgotten for far too long. people are putting eight, 10, 12 hours a day. work isn't just about work. about dignity. and whether it's taxes or jobs into other countries this tax reform is about them and you are doing something else that's very important. you are doing something that i wish other of administrations would have done.
you are take the stealing that the chinese have done against our economy. [applause] and finally i want to thank you for the child tax credit. millions of parents across the country will have more money in their pockets at this tax time next year because of your leadership and your work and if i may allow the people cover this in spanish rather than use an interpreter. ..
>> , i was going to ask of his better and closer spanish. so i don't have to ask. that's for good. >> thank you. we appreciate it. right down the road, i own it. i don't think about it anymore. surrounded by venezuelans as you those are great, great people. were working hard on the venezuelan horse show that's happening. i got to know the venezuelan people because so many in that area. these are great people. between cuba and venezuela and hopefully everyplace else, you're very well represented. thank you.
[applause] so go ahead. thank you. [applause] >> my name is -, i was born in cuba on october 27, 1940. i came to this country in 1967. since 1984 i have -- in miami-dade county. my business practice the tax laws that were passed have improvement to the taxes like we're able to write new equipment. that improved a large facility with corporations we have four
pages. all of them have been -- from this law. a secretary hygienist have all repeat bonuses. also anything under. these are the changes that we plan to open more in the front office. it's a pleasure to have you here with us. i'm glad you're taking action to make america truly great again. [applause] >> thank you. i know -- and he built a great company. and now it's become even greater. so how many more people are you hiring?
>> thank you for being here. it's overwhelming the feeling that almost 60 years ago at age 13 i arrived in this great country and one day of the next had the greatest senator. [applause] most people know me as max. and i've said this before. [applause] i was one of over 14000 children that came to cuba without parents. lo and behold, i happened to arrive to the finest and most generous country in the world.
[inaudible] we don't have to go very much to tell your story of many millions of people who come to this country who look for an opportunity. our president has no restore the capacity people like me who started the business from the trunk of our cars. and thank you. i'm very happy that right before he was selected i took the liberty of electing you and i said we will see you soon. [applause]
>> just to give you an idea about the impact of the tax laws passed by mr. trump come our president who by the way did not get everything he wanted but still we settle for. he has to deal with some people who don't understand what makes america great. just to give you an idea, my company we have hired over 40 people that have not been able to hire if enough of these tax cuts that allow us to do this. for example, something very simple we can now write off equipment that would take us ten or 15 years to write off. now we can do it immediately.
imagine how much that impacts. thank you because not only the tax laws but the regulations, the ridiculous regulations that prevent the people to do it i did, starting a company with nothing. this is the only place in the world you can do this. [applause] happens to be in the petroleum industry. is supposed to be about people when in essence we protect the environment more than anything else. is this president that allowed the construction of the pipeline that will believe it or not
provide cheaper fuel to all of us. i was mr. donald trump, our president who made that happen immediately. [applause] like a typical latin person i need to stop now. just want to tell you that those of us were been successful are now an example of all of our children who follow in her footsteps and i challenge my colleague who understand that if i gave everything ahead today would only be 10% of what i was given when i came to this country. [applause]
[applause] thank you very much. it took something that was run down those absolute for country made it into the basis place we have in south korea. >> he was much quicker than i thought. [laughter] that's a great story. >> good morning and thank you for allowing me to be here today. my family and i arrived in 1980 during the exodus.
we brought nothing with us, only the close we are wearing. we came here because this is the promise land. the promise of political stability. in 1984 we opened in south florida, today we operate several units. [applause] we employ over 400 employees in south florida. we are hit hard during the last administration tax. this allows us to keep more of our hard work earnings allowing us to reinvest in operations creating more jobs. i think it's better for the country and -- and some dry river in california.
[applause] government helps all businesses by letting us to our job by unleashing the american spirit. your incentives have created huge demands of the market. to retain and hire new employees we've seen a way to increase of about 20% in the short time. people are earning more this gives confidence to go out and spend more. i've been a supporter for day one. and i have facebook to prove it. having come from a country that promised everything and only delivered misery.
i leave you with a thought from a great thinker. it's a sad thing not to had friends. even saturn not to have enemies. that a man should have no enemies is a sign he has no talent tell shine others. no honored to be rumored no caps to be coveted nor anything to be envy. i'm grateful millions of us have a man who believes in this country that it may be deserved at all costs. thank you. [applause] >> i think the politicians -- so
mario, give us a good few words. >> the main first-degree to what our fine senator stated. community understands freedom and it takes the loss of freedom in your support this is something we thank god everyday for. number two, one thing i never thought i would see and i was getting frustrated is finally moving the u.s. embassy to jerusalem. as we saw this is very special. it's a hard-working community and people and folks that most of them came from a place where freedom does not exist.
they work hard and understand that when the federal government takes their money and does things that are not productive that's not the way to do it. you heard it here today. the spell has made it possible for hard-working men and women in places like this to keep more of their hard-earned money. for that we are grateful. appropriate her and also on the budget committee. if you look at where we were cbo has the forecast of less than 2% growth. that was the new normal. people may have given a look what happens when you cut regulation, lower taxes and free
up the american people, good things happen. and no place in the country is more emblematic. [applause] >> max mentioned something the expensing of equipment and other things that you're going to be investing. nobody thought they would ever see that. it's had a huge impact. even bigger than the trillions of dollars coming back from foreign lands. over the other laws you can bring it back. taxes were too high. it was complicated. it made no sense. we have money coming back into the country.
i believe expensing laws wasn't easy. the one year expensing will have a bigger impact than almost anything else. >> thank you for inviting me. and being amongst this group of people. i came to the united states and cuba. the uncle i came here to visit and stay with her -- size here by myself with my brother at that time. the story very common. most cubans have a story one thing you mentioned is that were passionate about what we do.
the bank which i'm the president of was the first cuban-american bank in the united states. i join continental in 1976. i can tell you that is a secretary of state with steve domination look at the economy to plan our future. both things grew i can say that we are ahead. one thing about employment is that before you can hire anybody you want because so many bankers were out of work, not anymore. now we compete against each
other in a better pay top salary to get that -- for your busine business. our loan revenues are over-the-top i would personally think for the actions that you take in. >> thank you very much. [applause] >> thank you for doing this. it's very meaningful place for many of us. we have a craft brewery but i grew up here in front of a building down the street. i played on these fields and i'm a proud father.
[applause] my parents both immigrants from ecuador cuba. for me to sit here today living out my dream is a small business owner surrounded by leaders is a testament why this is the greatest country in the world. >> has been an amazing benefit. it included a 50% reduction. were all growing and reinvesting their businesses. we been able to buy new equipment that have allowed us to increase by 40%. that allowed two jobs being
created. that's just one brewery. we have 6000 across the country. when you look at how that impact farmers and even companies like all-american container we buy are bottles for them in there and amazing success story. the impact of these laws and policies are compounding. important to fight for those issues. let's find a way to make some of these permanent. the excise tax is in a couple of years. let's continue to fight for economic freedom that so many must in half. we're here to support you. we will always be behind you.
the business community is incredibly grateful. [applause] >> i appreciate the support that we have had from -- in the state of florida. [applause] remember that famous evening, donald trump has won the state of florida. [applause] >> that was a long evening for them. we had a lot of great success. most importantly, somebody not even a friend of mine said that president trump has produced more than his promise. if you look at the economy and regulations and taxes the most people said we'd never have is
to grow tax reform and that's why for 40 years they couldn't get anything past. so i met with the politicians and said was the problem, how come you can't get tax cuts? we call it tax reform and i said that's the problem. reform doesn't work but what were doing is cutting taxes. also reform. so we go to the tax cut in job spent. how about we call it the tax cut, cut, cut plan. they thought it was tacky but it gets the point across. i want to leave you with this,
we lose a tremendous number of jobs and money with almost every country we do business with. in many cases our friends are worse than our enemies in terms of great deals. were straighten him out and if we don't will start all over again. our country has been taken advantage of for many years. whether china, mexico or i could name almost every country. the european union is hard to do business. we lost a hundred $51 billion last year but they send their carson like lots of other things. we won't let it go on any longer. you can send your products here.
there's so many countries and its massive numbers. mexico, we lost last year in terms of a trade deficit, $100 billion with mexico. we won't continue to do this. but with china, were at $375 billion trade deficit. we started the process and will see i've always said, we have an imbalance of $504 billion said when you're down that you can't lose. we lost years ago by presidents allowing it to happen. were going to bring it back.
[inaudible] [inaudible] >> this was five on tuesday. to spend houses back at 10:00 a.m. and they work on a measure to try to protect children from identity theft. jerry brown is at the national press club talking about border security and migration. the senate continues work at the department of education the committee holds a confirmation hearing on defense nominees.