tv The Intelligence Report With Trish Regan FOX Business August 8, 2016 2:00pm-3:01pm EDT
look at that! [laughter]. charles: thanks to "fox & friends" letting me cool off on saturday. i will be on tonight, 6:00 p.m., making money. she will take you through the next hour. trish: i saw the clip when it happened. all i could think of was bert you than me, charles. donald trump outlining his economic and tax plan in a rally in detroit. hoping for a campaign reset after a rough couple weeks by hitting his sweet spot, the economy. an issue which voters do prefer him to. then hillary clinton, can he refocus his campaign the number one issue facing american public and and the economy. welcome, i'm trish regan, welcome to the teleagainst report. in a speech interrupted 14 times by well-heeled protesters. watch here.
[shouting] [applause] >> i will say the bernie sanders people had far more energy and spirit. trish: they did. i was in philly at the dnc i got to hand it to the bernie protesters, they had more energy and spirit when they interrupted hillary clinton. donald trump calling for four individual tax rates. zero percent. 33%. the difference in what he originally proposed which was a top rate of 25%. he wants a 15% cap on what businesses can be charged. so that the is corporate tax rate. and that, i should point out less than half the current rate of 35%. a halt on new regulations on business. an end to the trans-pacific trade agreement, and renegotiated nafta agreement. he wants to end the paris climate change talks, and death tax, no one should be taxed twice, right? tax deduction for child care costs.
he says the plan will help make america grow again which we all need. >> these reforms will offer the biggest tax revolution since the reagan tax reform, which unleashed of continued economic growth and job creation. trish: so will they? and, importantly, will this plan help land him in the white house for more i'm joined one of trump's economic advisors, peter navarro, professor at university of california irvine. peter, i start with you. we heard a lot of this today. people have been complaining so long there is not enough substance. we got quite a bit of substance. this trade issue, he came out and said, i'm not anti-trade. i believe in free trade, but i also believe in fair trade. what does he mean by that? >> ronald reagan was a free trader in the early 1980s. ronald reagan slapped 100%
tariff on japanese semiconductors, because japan was cheating. trump's a free trader. he will do the same thing when china nip plates its currency or uses illegal export subsidies but he is also going to negotiate better trade deals. i mean if you look at the three worst trade deals over the last 23 years, it starts with bill and hillary clinton's nafta in 1993. bill clinton's allowing china into the world trade organization, 2001. hillary clinton's 2012 free frayed agreement with south korea. what do these all interest in common? ship jobs and factories offshore and basically cut our growth rate in half. and trained our government of trillions of dollars of revenue. so what trump will do. he will negotiate tough trade deals. here is the trump trade doctrine. no trade deal unless it increases gdp growth rates, cuts
trade deficit and strengthens our manufacturing. detroit in michigan is the heart of rejuvenation was really a second reagan revolution and morning in america. trish: i want to bring charlie in here, he will dispute you on this charlie does think rearranging any trade deals you will grow our gdp. talk to peter about it. >> i think it is demagoguery to suggest, actually stupid. i like to know who put the line in donald's speech that said that nafta -- trish: maybe peter did. >> it would not be a smart thing. did you put the line in donald's speech that said nafta is the reason why detroit is in the horrible shape it is in? >> donald trump writes his own speeches. but let's talk about -- >> you had your chance. i am going to have your chance. trish: why don't you like the line. >> i let you say your peace. i will say mine. i will tell something to the american people. nafta did not cause detroit. detroit is in it is state
because of years of taxes and liberal policies. businesses have left the united states. detroit and the businesses and manufacturing in the united states is not drying up because of nafta. it is drying up because of a lot of other things including our tax policy here. could we negotiate, could we negotiate better tax deals? yes. you guys you think you will solve the problem of unemployment in this country by being tough on china? it is a lot more difficult than that. trish: a disagreement there. i want to move on to the tax issue. this is important one, perhaps, a place where i'm going to see some agreement on the screen. peter, he is talking about bringing corporate taxes down to 15%. what do you think that is going to do to the american economy? >> well, let me say this, trish. i agree with charlie that there is a lot of things going on here. here what we need to understand about the trump economic plan. it hits four points of the compass. trade, tax policy, regulatory policy and energy policy.
what people need to understand the goal is to double our growth rate, get it back to historic levels, generate millions of jobs, trillions of dollars in new tax revenues and put america back to work. and so all of these things work together. >> trade stuff isn't going do that though. >> well, but, charlie, let's talk about detroit. in the last two years -- trish: whoa, whoa. hang on. i will say, not, i'm going to jump in here, charlie we do have some bad trade deals. i don't know if that will totally fix it. >> which one is bad? are. trish: how do you like if gm make as car in america and it goes to china, china slaps a 25% tariff. >> that is nafta? trish: i'm talking about trade in general. >> he said that nafta -- >> i can give you chapter and verse on that. trish: here is why he is saying that. i will jump in, you have car part companies making things in mexico, that used to make them
in united states. he saying that they lost -- hang on, guys. we are completely digressing. i don't want to go off point. 15% capital-gains tax, what will that do for the economy? peter you say it is great. charlie your turn. >> i think it is great. i think his tax plan is very sound. another problem he was really weak on details, again he writes the speeches and a lot of people think larry kudlow has a roll or steve moore, like to ask him, where, so you're going to lower taxes. really good. where are you going to start reducing the size of government? does he think there is one program that needs to be cut.>>. >> not you. why did he bring it up to the economic speech. >> which part. i listen to the whole speech. >> which part. >> i will answer the question if you want. >> what did he say he would cut the size of government, not regulation. the size of government. >> i don't know you're filibustering here. throwing all these things out.
trish: no, let peter answer the question. >> not talking about regulation. trish: peter navarro, your turn -- >> the charlie, the whole point when you overregulate you're adding to the size of government. >> i got that. what program will he cut? the. >> get this, charlie. obama over the last seven years issued 400 executive orders that created major regulations of over $100 million each. we have a $2 trillion hit. >> right. >> what donald trump is going to do is have a moratorium on all new regulation. >> great. >> he will direct every agency to review all regulations and determine whether they're good for the people. >> what program is he going to cut? >> that is part of the analysis, charlie. trish: i got a lot more to. >> social security, where? trish: good to see you. >> medicare, social security? trish: i got to put up with him every day, right? in his speech donald trump also called for parents to fully deduck the cost of child care from their income, watch.
>> my plan will also reduce the cost of child care by allowing parents to fully deduck the average cost of child care spending from taxes -- deduct. we will roll out proposals to increase choice and redust cost in child care, offering much-needed relief to american families. they're suffering. they're suffering. trish: it's a move likely directed directly at women an area, demographic where he continues to struggle. according to the latest polls he is trailg hillary clinton by more than 20 points. when it comes to the women's issue, trailing by about seven. so is something like this tax credit going to help turn things around? joining me, fox news contributor leslie marshall, trump campaign spokesperson katrina pierson. what is this designed to do? >> well, this is absolutely designed to lift the burden on a
lot of working mothers out there. specifically mr. trump sauls said from the beginning he would be strong on women's issues he does want fairness. he wants a level playing field so we bring back the idea you still can be in america and have the american dream. when you look at the way taxes are today, trish, we can't sit here and say it is okay for corporations to write off their corporate jets or for global banks to be able to write off their legal expenses after being found criminally negligent and tell a working mom that she can't write off her child care. that is not fair. trish: look. do you think, leslie, that this is, going to help him in terms of the women's issue? i mean, we heard ivanka's speech there in cleveland, biggest challenge for women today in achieving equal pay, stems from the fact that women have families. they make different choices. there are different priorities in their life. maybe if there was some way for them to balance the whole work
life home life you would see more in terms of women in the workforce. >> well, i would agree with that. the problem here is that we're weren't in a lot of details. devil is in the details. one of the details we need to look at women especially, anybody in the lower income working class. they will not have the a deduction, many, if not most of them are not paying taxes at all. this doesn't benefit them. this would benefit higher income families. second of all, this is designed obviously to appeal to women and i don't think it is going to work and the reason is, women, according to the polls, the dislike for donald trump is not based on current policies, but based on past rhetoric, or behavior and the reason hillary has been so popular, for most of her career that is what she really emphasized, legislation and working more rights and programs that benefit women. trish: i always find it amusing. >> that that is a falsehood tho. trish: katrina are somehow
pro-women despite the fact bill clinton is clearly willing to take advantage of women and hillary clinton is willing to allow her husband to do such things and malign the women thereafter, but, yet, katrina, they're all for women. >> yeah, but see hillary clinton also does not support women considering how she continues to take money from nation who treat women horribly. but, that false notion somehow woman will not vote for trillion trump because of their emotional position is absurd. women vote with their pocketbooks. they have jobs. they want a good economy. their children need a good education. women are not going to a polling box in november, well, you know i would really like to save the extra money, i will forego my child's education because i really don't like the way donald trump says things. they're taking women for granted n this situation, that is going to show clear because everyone that i have talked to today loved this idea that finally, we have something that women can look forward to with a
simplified tax code and being able to deduct their child care because we have far too many women who have to work a second job just to pay for day care. trish: thanks so much, leslie and katrina. we'll see you guys in a little bit. we'll continue our conversation of policies put forward today and whether or not they will help donald trump. of course this is, as i said, it is a bold economic plan. is it the thing that our economy really needs right now, facing me next for a fact check on his plan, donald trump's, grover norquist the president of americans for tax reform. i willee you with grover next. if you have medicare
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said that she wanted to raise taxes on the middle class. i am proposing an across the board income tax reduction, especially for middle income americans.
this will lead to millions of new and really good-paying jobs. the rich will pay their fair share, but no one will pay so much that it destroys jobs, or undermines our ability as a nation to compete. trish: donald trump talking just a short time ago there in detroit, a city which really
symbolizes much of what this country has been going through in terms of a struggling economy. in addition to struggling taxes across the board, trump did reiterate his plan to reduce the corporate tax rate to 15%, from the current 35%. trump also said he would totally get rid of the death tax. joining me right now, the taxman himself, grover norquist, president of americans for tax reform. grover, good to see you. >> good to be here. trish: what did you think? one thing i will point out, the 33% is higher than he originally proposed, 25% for the highest taxed earnings for the economy. overall a big problem.
from what we've got right now. your thoughts? >> not only big improvement from the present tax code, and much improved over the opposite direction. hillary wants to go to one trillion plus in tax increases she admits to. present system is bad. it's a big improvement but he improves in two-ways on his previous plan. he adds full expensing for business investment. that's a real supercharger for the economy. that will create a lot of jobs. very helpful particularly to manufacturing. trish: explain to the viewers what that means. if you can fully expense all the new investment, that incentivizes you, does it not? >> sure. trish: to go out and spend and make new investments. >> present law there are 1,000 pages or so of the tax code which say if you buy a piece of equipment so workers are more effective to create more, you deappreciate it over five years or 10 years or 20 years, based on some theory somebody has but with a lot of high-tech
equipment, it may be out of date in two years, so depreciating over five and 10 is silly. it reduces the cost of capital. it reduces the cost of making americans more productive by saying, you spend a million dollars on equipment, you take it off your bottom line today. trish: okay. >> not over 10 years. trish: so you like that. what else do you like? >> it is very big. the or the thing he said in the first several paragraphs, we'll be working with the house republicans. our plan looks like their plan. here is my outlook. basically he is saying, he and paul ryan and republicans in the senate are on the same page. i think his planf 15 is an improvement over the adam housley republicans. but he -- house republicans, because the modern republican party and me trump are moving in the same direction. trish: grover, so many people especially on the left, we're
not getting enough substance from trump. he is not talking about anything meaningful and anything real. i look at what we saw in detroit, i say that thing was jam-packed with policy. and you know, these are policies that he has floated out there previously. are they going to have to back off that line of attack in light of what we just saw? >> i think they will have to double down on it because if you look at the specifics of hillary's taxes, a trillion dollars at least, 1.1 trillion in higher taxes on businesses and individuals, she endorsed the soda pop tax, a tax on guns. a wage tax, which is a tax on social security, another tax on all workers. she said she would sign that. and her party just endorsed a tax on all energy, a carbon tax. so, she has been very specific about all her tax increases. she does not want a discussion about what she said and certainly doesn't want to discuss the specifics that trump has laid out. so they will announce that he
hasn't really said anything but americans should go look at it. at our website you can see both hillary's tax hikes, high tax hillary.com. hightaxhillary.com has all the tax increases and donald trump's tax cuts. did i mention hightaxhillary.com? trish: thank you, grover norquist. good to see you sir. >> you got it. trish: president obama standing firm on the $400 million cash payment to iran was not ransom but does it ion matter what the president calls it when certainly seems pretty much everyone in the world including iran to be ransom and therefore put every single american at risk? we're going to debate it. i will see you here in two.
in the unmarked plane that went in the middle of the night to iran and was totally secret, was ransom, but the payment seems to have emboldened iran. they just execute ad nuclear scientist who briefly defected to the united states. senator tom cotton warning chris wallace on "fox news sunday" that the white house's payment sets a dangerous precedent because indeed it looks like ransom. watch. >> president obama said we don't pay ransom this week. he said this payment was not a ransom. doesn't matter what president obama says. it matters what the iranians think and matters what dictators and terrorists and gangsters all around the world think and they clearly think this was a ransom payment. if they take an american hostage, men maybe they too will get a $400 million win fall in 500 euro notes on an unmarked plane. trish: this with american and australian proevery if were kidnapped by gunmen wearing
military uniforms in the afghan capitol of kabul. has our payment to iran already created more kidnappings of americans? here to weigh in, judith miller, famed reporter and fox news military analyst thomas mcinerney. tom, starting with you, one of the hostages told me in an exclusive interview, that he waited and waited and waited. he and the others who damages went to the airport in iran that fateful night. they said it would be 20 minutes. then the iranians told them, no, you can not leave. you can not leave because we're awaiting for another plane to land. general do you think this was ransom? >> it was absolutely ransom. there is no question about it, deirdre. excuse me, trish. there is no question that this was ransom. it couldn't have been done any better than a ransom. the president says, look, we do not support ran some except he did it. $100 million per hostage. what happens in afghanistan over the weekend?
they kidnap an american professor. trish: so in other words, maybe other parts of the world, now, judy actually think we're willing to pay, maybe 100 million bucks a head. isn't this exactly why we don't pay for hostages? >> this is exactly right, trish and that's why even though this policy has been reviewed by virtually every president who comes into office, each president comes to the same conclusion. paying ransom, even though it is very hard toayo the family of someone being held hostage, we can't help you, paying ransom will mick americans all over the world vulnerable to precisely what we've seen in afghanistan and by the way, in iran because two more iranian-americans have already been picked up there since that money was taken. trish: you know, you think about poor james foley and his family, you know, that young man originally from new hampshire,
who was executed by terrorists. we didn't pay ransom for him. why is it we were willing, do you think, general, to pay in the case of these four hostages with iran? >> trish, it was all tied into the nuclear deal and, the administration would have, and did anything they could to cons assume mate that nuclear agreement, which is an absolute disaster, i agree strongly with senator cotton on it, and most senators, that believe it is a disaster. it is going to cause us more problems in the future, but that is why they did it. the president sold his soul to make this hostage trade and get cash in their hands, fungible dollars used by terrorism throughout the whole middle east. trish: you know, it is a scary thought because obviously we're in pretty unprecedented, scary times. now of course americans will be more vulnerable. judy, let me ask you about this scientist, this iranian scientist who was just executed.
turns out he had come up in apparently in some of clinton's emails. what is the link there, and what do you derive from that execution, if anything? >> even though as you know, trish, i'm not shrinking violet when it comes to criticizing the policies of this administration i have to say on this one the united states warned this scientist not to go back to iran. they warned him that if he did go back, he would probably wind up in jail and or executed. they told him about previous examples of other people who had tried to return to their countries and that's what had happened. yet he was so intent on eing his son again, and being back that he disregarded that advice. it is terribly tragic but i don't think you can blame the administration for this. trish: judy, general, very much. >> thanks, trish. trish: donald trump launching a new line of attack against hillary clinton saying she is
not quite all there, after her comment about short-circuiting when she told chris wallace, falsely, falsely, she lied, that the she was truthful to the fbi about her email scandal. is questioning her mental health a winning strategy? you know, hey, perhaps for him, whatever it takes. we'll debate it all next. >> so i may have short-circuited it and for that i, you know, i will try to clarify. i think chris wallace and i were probably talking past each other. equals free tech support. oh, look at you, so great to see you! none of this works. ♪
trish: donald trump launching a new line new line of attack. he even has a new nickname for her. ischemic you will compare what i'm proposing to what my opponent is talking about. i may have short-circuited clinton said she may have a short circuited during the interview. and then she said over and over again she never lied to the american people. the tables have turned. now they're using her own words against her. >> she took a short circuit in the brain and i thinkthat the people of this country don't
want somebody that is cannot short-circuit up here. honestly i don't think she is all there. will this line of attack work. the short-circuit it sounds a little better to the american public but even that way the interview that was off and i think she has to come up with some kind of excuse is this an attack as an attack plan that will work. it is extremely important. in the interview she lied again. she can't talk about it. not even enough fake press conference.
the entire narrative blows up because that was intent. in the fact that she continues the same line of defense that everyone knows that she lied is really going to be terrible for hillary clinton because there is a short circuit there and it's a simple fact that she doesn't want to have a news conference. it took 245 days. i don't know why they aren't more concerned about it. but, that said it doesn't seem to be resonated. i just wonder if he is better off focusing on things like
the economy insecurity because it seems as though those people that have made up their mind have just made up their mind. they are willing to overlook those things. not only for hillary supporters but for trump supporters and for the people who are not sure who they are going to vote for in november. the name name-calling is not going to cast a vote for one or another. when you look at the polls donald trump is losing ground nationally. and it is really foolish terminology. i would not advise that terminology. i don't think it's going to work there. let me ask you about this. i've been taking thinking about this a lot and i compare it to the brexit polls which were indicating that there was
no way it would actually happen. but what we saw in the case was that there was this enormous turnout they came out of the woodwork and to vote and a lot of them were telling them one thing but then they were doing another do you think that could happen in november here? >> i have no doubt that that is what will happen here. even if we were talking about a traditional candidate ronald reagan it was down by about 20 at this point. there is a lot of time to go. or just now getting ready to start. >> every time that was exactly what i was gonna say. this was more about the media. if you're watching those eden you didn't hear much about that incident on sunday where
she lied again about what she sought to the public because they were running fake headlines. this is what the media is doing they are covering for hillary clinton and news busters story last week that said they spent 84 minutes on fake controversy and 27 seconds on the hostage payment. they're making a very good point. do they have a vested interest at this point. ? >> i don't think all media outlets do. and i say that because regardless of the media outlet when your boss speaks they are there. he gets great numbers. but certainly i find it there there has been a lot of negative on hillary clinton.
ever since we heard her name and she came on the scene when she was married to the governor in arkansas. they set off on the national stage. but i certainly have seen what has been said about other networks regard to hillary. then again there are some people that feel that the media is not tough enough on trump and whether it is babies or short circuited that's i can help or hinder either of these candidates in november. thank you so much. it is lovely to see you both today. donald trump promises of change and hitting his sweet spot the economy up next. trump is getting back to the basics and it might just be the boost that his campaign really needs. it could be what lands him the oval office. our party has chosen to make new history by selecting a nominee from the outside outside of the very already
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>> she is the candidate of the past hours as the campaign of the future. all she has to offer is more of the same. more taxes or regulations more bureaucrats more restrictions on american energy and on american production. more of that. donald trump is getting back to the basics. he promises lower taxes and less regulation. as he said it would it take a take a whole lot to jumpstart this economy one of the reasons we had been so challenged in continue to be our can these are being suffocated by regulations at high taxes.
politics aside regardless of what you think about donald trump if you just look at what is best for our economy in the here and now getting people back to work the reality is you could not be growing in economy when taxes get this high. they are penalized for making goods here in america and then they still can't bring those profits back. if $2 trillion sitting overseas that can't come back onto our shores because they would be taxed again and thus too high. how does this make any common sense. i had been syrian -- sayingssivf the government getting bigger and bigger all at the expense of us. this has been the is been the message of the republican party for decades but one of the challenges they had had is that they can't sell the message they couldn't sell it
because a kept getting painted as part of the elite. really been perceived as on the side of big business. that allowed them in some sense to get put into a box. trump, whether you like him or not has certainly changed that. the question now is is it enough. liberal economics has failed. you look at cities like chicago and detroit all big cities that employed big economic policies and guess what, all of those handouts the other bureaucracies they don't work. the schools are lousy. the unemployment rates are way higher than average. if you get a ton of crime. is time for the cities to wake up for people there to push for change it's on every single american voter right now to spend the time understand the policies they
are going to change our economy. think about what it is that we need from government what is the change that you want. because all of our future right now is dependent on the economic health of the station. that's today's intel. i will be right back. to folks out there whose diabetic nerve pain... shoots and burns its way into your day,
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i think donald trump mentioned it there in detroit. guess what, those 200,000 jobs they never were created and trump did go after her for it today. watch. it just shows that upstate actually lost jobs a lot of them during clinton's first term. in other words she was all talk no action upstate new york is a disaster. if you travel through any of those communities they are shells of their former self. al and i will start with you. how does she explain away the 200,000 jobs that she promised to create and then you go anywhere in western or upstate new york and they are not there.
she could not control 911mac. the article you referenced she brought $1 billion into new york for 911. and then another $200 million and post recovery money. so you blame september 11? >> where the tech meltdown that was for sure all part of that. steve that said you make a promise like that and part of the difficulty for her is she has a record. when it comes to political records we can look back and say this but she did this. i don't know how americans are going to believe it.
>> september 11 that was 15 years ago. i think in terms of trying to connect the dots it is sad that western new york is energy rich because of the policies of the left western new york could be doing far better than it is. it is america as a whole. they put out a report over the weekend and it was pretty depressing. it was called poor than your parents. over the last decades 81 percent of households have seen their incomes fall. things are not okay.
i like to read it as well. this is one of the most devastating things for our economy right now. a more prosperous time. what has happened over the last eight years. >> you are right look at 20 years of wage growth is not there. it's not exclusive to one party. unemployment rates of 4.5 percent. many of those are retirees. if they want to run on the economy go ahead see how it's cannot work out for you. i will absolutely agree with you when it comes to the economy bush was a little better. but we have seen it.
that is more so under obama. any other republican that would be running right now it be so hard for them to save what you just said. he has really defined the ole rty. >>n ma ways this race is really not so much republican against democrat. i think it's america against washington. >> thank you so much we will take a quick break.
show. make sure you tune in tonight i will follow the story and much more when i guess -- when i guest host the kelly show. 9:00 p.m. on fox news. we thought we would start with an olympic analogy. and we know we know that we have run -- one a bunch of metals. it's anything but fun and games. hillary clinton is set to spank speak we will bring that to you life when it begins. will his economic plan be able to walk the walk. >> one of the most respected giants on wall street said you the investor need to be ready for a pullback when is it