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tv   Forbes on Fox  FOX Business  April 16, 2017 7:00am-7:31am EDT

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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 mnting over the north korean nuclear friends, donald trump beating of r na 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
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that kim couldn't get his hands on a cold beer. there is a lot of leakage and export controls, things could go wrong. >> of china plays serious and cut north korea off could we avoid a crisis? >> we vastly overstate the threat but assuming it is a threat, this is china's problem if north korea destabilizes the world that would have a negative impact on china's economy so the trump administration's response the china should deal with this, we should stay out of it. david:we saw some tweak diplomacy on the part of donald trump, he first tweeted north korea is looking for trouble if china decides to help, that would be great but if not, we will solve the problem without them and china got the message because the next was i have great confidence the china will deal with north korea. if they are unable to do so the
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us with its allies will and he repeats usa. >> the fact is north korea is a threat, a missile that could have a nuke on it and reach our shores is a threat but in terms of sanctions, sanctions will work even if the chinese companies, and the banks to deal with them will choke off north korea even if the chinese don't want to cooperate and the other thing we should do is put north korea back on the terrorist list with appeasement back in 2008. >> china turned back a fleet of ships that were loaded with coal so that is a step in the right direction, is it not? >> it might be. and to give them, declaring
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currency manipulator, and some promise or something in return for giving him that. the chinese and north korea have been allies, north koreans don't use banks, or massive sanctions. >> steve forbes is -- let's that it into those. >> we had massive sanctions that haven't worked for decades. >> absolutely true, sanctions haven't stopped koreans. >> >> the official mouthpiece of the communist party, china would respond to unprecedented ferocity depending on what north korea does. that is new.
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donald trump is using the leverage we have with china, they depend on us to keep the economy growing and trump knows that and is using that leverage. david: sanctions haven't worked, we rolled back, and they have done a lot of stuff then. >> psychology of the leader is really interesting. from what i'm reading he did not want to end up like saddam hussein or qaddafi which is why he uses the nuclear threat to milk countries for what he wants, in 2009, giving over tons of fertilizer and the leader of north korea wanted $10 billion in cash to pay off the delete. and one of those missiles going
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haywire hitting japan. david: there are signs, they are not crying uncle exactly but they are showing strain as result, and with the cooperation of somebody, the us is planning to collapse the system. it is such a naïve and foolish delusion, somebody's references to china. >> they are also being realistic, there are existing sanctions to prevent north korea from getting a hold of missile parts and somehow they do. those parts are coming chinese firms. who is cheating? getting this through the border. >> it would be great to starve those elements to make nuclear weapons. >> sanctions do not work, and they have no economy to trade.
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for them to be a literary threat, they have to be a powerful economy. they do not represent a threat, stay out of it. >> countries can pose a military threat, you see that in north korea today. those missiles are not just papier-mâché, they are very real, when they got the parts they are parting those missiles, develop nuclear capabilities and have the capacity to recharge shores. david: they pay for them and i imagine some of that is through a banking system. >> the banking system, where we started to chalk it up in 2008, we are ready to behave ourselves and broke those promises. david: they don't use banks like the rest of us. is where they make evil products.
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>> they have a history of barter exchange. they are not even in the last millennium. david: what do they have to barter? nuclear components? >> who they trade with his china. that is their only ally. they trade over a land border. we got to put pressure -- >> there nuclear threat is the big barter stick so how do you stop that? such a conundrum, how to deal with north korea. and south korea in their. >> easter weekend, a weekend of peace, can we do it without military, is that what we all
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want? >> of course because once a nuke is unleashed who knows where it doesn't stop? look how world war i started. pistol shots. china is the country to do it. david: on that positive note. it is 3 days away, you're scrambling to get to all that paperwork, we are dusting off a gop plan to let you file your ♪ say carl, we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh. and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $4.95 online equity trades and a satisfaction guarantee. if you don't like their answer, ask again at schwab.
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david: last-minute tax filers rushing to get through those forms before tuesday's deadline but imagine filling out your taxes on one postcard. republicans releasing the simpler tax postcard last year. everything is laid out on one page. why aren't we using this already?
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>> it was a good step in the right direction, the reason they are not doing it is they fear special interests, the american people support them. republicans are doing strange things these days, proposing new taxes are not going for taxable the case they want to base your, don't know what they are drinking a. david: we are filing on tuesday even though april 15th is today because we are on a weekend so we have a couple extra days but americans are fed up. this report issued last summer, a lot of us think should be used now. americans tax code in 2016 imposes burdens paperwork, special-interest subsidies, crony capitalism, penalizes savings and investment and encourages businesses to move overseas, administered by broken agency that continues to fail the american people.
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is there anything in that you would disagree with? >> probably not but i think it is worse that in the two third of america, everything you fill out on tax return the irs already has. they got the w 2 from your employer, already got a 1099 from your bank so i have a plan i put out several years ago that for two thirds of america you wouldn't have to do a return. he would use the information they have and if it is you check the box. >> a little creepy but we put together -- calculated how many man hours it takes if you put it together, 6 billion man-hours is how much it takes to fill out all of the forms you need to and comparison it only took 22 million man-hours to build the world's tallest building in dubai. we could have built many tallest
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buildings if we just had this postcard. >> the museum of the unseen. imagine all the accomplishments we could have had, so much more productive and so many people not facilitating dealing with government. the electorate to throw shame all over congress, irs is a creation of congress and they don't want to be seen as to individual listing for our money and they created it. david: i understood it would be simpler, i would rather fill out a card like this then have the government take my records. >> i would add mass chaos as well. i love the idea, and there is so much information that is creepy, and getting bernie sanders in on
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tax reform, and trusting these guys congress and john is right about that. david: you read this a year ago and it is all laid out. >> a great weekend for donald trump to get the message out, easter weekend, the book of leviticus had a referral to 20% double tied. that is a perfect -- steve would prefer 17%, and a flat tax for all categories in capital gains -- david: you know they get away without paying any taxes because of deductions with why not get rid of all the deductions, everybody pays 20%.
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>> here is what happens. you talk about simplification, it morphs into let's find a way to cut high income by trillions of dollars which is long as you don't do it in a regressive way it is a great idea but once you start moving to let stop taxing, capital income. david: a lot of companies are getting away with not paying anything. >> you show me a postcard tax return and i will show you five wave millionaires get away with paying nothing at 10 ways ordinary people will get hosed. david: i don't want to pay any more. we leave it at that. thank you. heading ready to all at the bottom of the hour, what have you got? >> former hillary clinton spokesperson admits the mainstream media leans to the left but says coverage is harder
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on democrats. do defense say otherwise? jeff sessions visits the southern border, did we find out donald trump's crackdown on illegal immigration is already working? david: we will be watching. united airlines passenger dragged off this flight, this was caught on camera.
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>> oh my god!
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david: that of course is the united airlines video that went viral after a passenger was forcibly removed from a flight. when he criticized the company and its ceo for not doing a better job to address the incident and the stock has been taking a tumble since. you are not exactly a neutral observer on united airlines. >> i traveled 200,000 miles a year. just last week united sold right from underneath me a ticket i booked and paid for to jacksonville, florida to houston and i had to rebook on american and got home at 3:30 in the morning. name the airline that would have been most likely to pull off what just happened, 75% of americans would have said united. they have something deeper than a pr problem, they have a bad corporate behavior problem. david: the first letter or two that came in the this is an upsetting event so all of i said
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united i apologize for having to re-accommodate customers, a lot of people had problems with that. >> you break a guy's those in my two of his teeth and give him a concussion that is country accommodating? should rapidly apologize, and i don't know how you deal with this issue. it was a problem with airport security roughing this guy up and that is where the debate is and overbooking more than 400,000 people annually, that is a lot of people. >> they tried to make amends for the first tweet that came out, he came out with the second statement, i deeply apologize to the customer forcibly removed and all other customers, no one should ever be mistreated this way but i wonder was it too late? >> that should have been minutes one. what they should have announced changes. once you are on an aircraft you stay on that aircraft and
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future, they have an auction, a $500 doesn't do they are up the thousand, 2000 but they are responding to the particular problem. david: no stealing on how much you can get. virgin airlines, didn't they have an interesting way of dealing with overbooking? >> they were good at it. if they had overflow they would put the overflow on the concorde so it created goodwill with the passengers and good global pr. that is one way to fix it. david: it doesn't matter, if the customer is the victim he wins. >> i think that is true. in this case people administering the beating don't work for the airlines. i think the lesson of this and it is a lesson sean spicer should also use, their biggest problem was step one they want to defend themselves.
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you saw the ceo sent a letter saying the passenger was disruptive and he comes back and apologizes. >> other companies with pr disasters, samsung, wells fargo, long after those companies have been forgiven people still associate in their minds the idea that united deals with an unhappy customer through unhappy customer through violence liberty mutual stood with us when a fire destroyed the living room. we were able to replace everything in it. liberty did what? liberty mutual paid to replace all of our property that was damaged. and we didn't have to touch our savings. yeah, our insurance won't do that. well, there goes my boat. you can leave worry behind when liberty stands with you™. liberty stands with you™ liberty mutual insurance
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>> and we're back with the stocks that will put you in a higher tax bracket next year. e-mack, mid cap. >> vanguard mid cap value index, regional banks, tech companies and industrials and it's really cheap. david: what about it, bill? >> it's too sensible, i think that e-mack needs more selection in the portfolio. david: too sensible?
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>> and a company will make some widgets. >> i may go out and buy it tomorrow. david: we all like safe stocks. that's it, and have a wonderful easter and passover weekend. keep watching, the number one business block continues knew with eric bolling and cashin' in. >> you look at what's happened over the last eight weeks and compare that really to what's happened over the last eight years, you'll see there's a tremendous difference, tremendous difference. eric: america dropping the mother of all bombs on isis in afghanistan, launching missile strikes on syria and our navy war ships are headed to north korea. and as president trump looks to increase military spending 54 billion bucks. will we need to raise more. lisa, richard fowler, and lisa, now, with all of the things going on.

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