tv Bulls Bears FOX Business February 18, 2019 5:00pm-6:01pm EST
[cheers and applause] >> i don't know what she said, but i think i know what she said. and she is an incredible woman and oscar was an incredible man who will not have died in vain. [cheers and applause] a few weeks ago on january january 23rd, venezuela's national assembly invoked the venezuelan constitution to declare the president of the national assembly, juan guiado as the country's legitimate leader. in one of his first acts, president guiado invoked the
same constitutional that oscar carried her disguise to notify the world that maduro was illegitimate. within 30 minutes, the united dates was proud to be the first nation in the world to recognize president of three. [chanting] and by the way, john bolton is here. [applause] working hard. today, more than 50 countries around the world now recognize the rightful government of venezuela and the venezuelan people have spoken and the world has heard their beautiful voice. they are turning the page on socialism, turning the page on
dictatorship and there will be no going back. [cheers and applause] these nations are ready to help venezuela rate came to democracy, and dignity and destiny. all the nations in our hemisphere have shared interests in preventing the spread of socialist tierney. socialism by this very nation does not respect borders. it does not respect boundaries are the sovereign rights of its citizens are its neighbors. it is always seeking to encroach and to subjugate others to as well. the twilight hour of socialist has arrived in our hemisphere and frankly in many, many places
around the world. the days of socialism and communism are numbered not only in venezuela, but in nicaragua and cuba as well. [cheers and applause] do we love cuba? [cheers and applause] do we love nicaragua? [cheers and applause] great country. such great potential. remember that word. such unbelievable potential. in the meantime, we must all work together to end and humanitarian disaster. as we speak, and there are truckloads filled with hundreds of tons of desperately needed humanitarian applies stop at the borders of venezuela waiting to
help the millions and millions in need. two days ago. the air force come in the big beautiful play landed in colombia, including thousands of nutrition kits for little venezuelan children. [cheers and applause] unfortunately, dictator maduro has blocked his lifesaving aid from entering the country. he would rather us be his people starve and give them aid, then help them. millions of venezuelans are starving and suffering while a small handful at the top of the maduro regime plundered the nation into poverty and into debt. we know who they are and we know
where they keep the billions of dollars that they have stolen. incredibly, there are members of the venezuelan military still barely supporting this failed dictatorship. they are risking their future. they are risking their lives in venezuela is future for a man controlled by the cuban military and protected by a private army of cuban soldiers. [cheers and applause] maduro is not a venezuelan patriot. he is a cuban puppet. that's what he is. [cheers and applause] and remember hundreds of millions of dollars they no
longer have that kind of well to be able to do it. so things are changing and they are changing fast. and today i have a message for every of racial who is helping to keep maduro in place. the eyes of the entire world are upon you today, every day and every day in the future. you cannot hide from the choice that now confronts you. you can choose to accept president guiado's generous offer of amnesty to live your life in peace with your family and your countrymen. president guiado does not take retribution against you and neither do we. but you must not follow maduro's orders to block humanitarian aid
and you must not threaten any form of violence against peaceful protesters, opposition leaders, members of the national assembly or president guiado and his family. we seek a peaceful transition of power, but all options are open. we want to restore venezuelan democracy and we believe that the venezuelan military and its leadership have a vital role to play in this process. if you choose this path, you have the opportunity to help forge a safe and prosperous future for all of the people of venezuela where you can choose the second path, continuing to support the maduro.
if you choose this path, you will find no safe harbor, no easy exit and no way out. you will lose everything. [cheers and applause] but today i ask every member of the maduro regime, and this nightmare of poverty, hunger and death for your people. let your people go. set your country free. now is the time for all venezuelan patriot to act together as one united people. [cheers and applause] nothing could be better for the future of venezuela and nothing could be better for the future
of another cat divination than the rebirth of freedom and democracy in venezuela. [cheers and applause] [chanting] for decades, and the socialistic leadership said cuba and venezuela have propped each other up in a very corrupt bargain. venezuela gave cuba oil and in return, cuba gave venezuela a police state run directly from
havana. [cheers and applause] but this is a much different day and those days are over. [cheers and applause] the ugly alliance between the two tater ships is coming to a rapid and peered a new future is beginning. all of this and -- all of this and this arena and thousands of thousands of people outside you have to see it are united because we know the truth about socialism in venezuela, cuba, nicaragua and all around the world. socialism promises prosperity socialism causes promises unity
but delivers hatred and division. socialism promises a better future, that it always returns to the darkest areas of the past. god never fails. it always happens. socialism is a sad and discredited ideology rooted in the total ignorance of history and human nature, which is why socialism eventually must always give rise to tierney, which it does. [applause] socialist profess a love of diversity, but they always insist on mount salute conformity. we know that socialism is not about just this. it's not about equality. it is not about lifting up the poor. socialism is about one thing
only. power for the ruling class. [cheers and applause] in the more power they get the more they pray. they want to run health care, run transportation and finance, run energy, education, run everything. they want the power to decide who wins and who loses, who is up and who is down, what is true and what is false and even who lives and who dies. [cheers and applause] in short, all of us here today know that there is nothing less democratic than socialism. everywhere, socialism advances under the banner of progress,
but in the end it delivers only corruption, x location in dk. with us today is david smolinski. [cheers and applause] david was one of the youngest in venezuelan history when the maduro regime removed him from office and issued a warrant for his arrest. david fled into venezuela's treacherous southern jungle. eventually david reached brazil where he was welcomed with open arms. today david lives in exile in the united states where he continues to speak up for the venezuelan people. sadly, david is the third generation of his family to fully the agony of socialism and communism. david's grandparents fled the
soviet union in 1927 and his father fled communist cuba in 1970. as david said, the difference i want to have for my father and my grandfather is to go talk to my country. my grandparents never went act here. my father has not been back to havana. i hope i can soon return to venezuela. i think that will happen, david. [cheers and applause] thank you very much, david. i think it will soon have been. your kurds, david is an inspiration and many of the people in this room have been through much, but you see it coming to the end. you see it really coming to an end for the first time you are seeing it because the united
states, a true great nation is behind you. [cheers and applause] [chanting] and so is the united states stands up for democracy in venezuela, we reaffirm the solidarity with the long-suffering people of cuba and nicaragua and people everywhere are living under his socialist and communist regimes. and to those who would try to impose socialism on the united state, we again deliver a very simple message. america will never be a socialist country. [cheers and applause]
we are born free and we will stay free now and forever. [cheers and applause] we know what freedom can do in venezuela because we have named that future right here. we know what freedom can do in cuba because we have seen that future right here in miami. [cheers and applause] we know if redone can do and nicaragua because we have seen that future in sweet water. then one day soon with god's help, we are going to see what
the people will do in caracas and managua and havana. [cheers and applause] and when venezuela is re-and cuba is free and nicaragua is free, and this will become the first free hamas figure in all of human history. [cheers and applause] it was my great honor to be with you today and the first lady's great honor to be with you today. we are winning. we are winning on every front. thank you. god bless you. god bless the people of venezuela. god bless the people of cuba. god bless the people of
nicaragua and god bless the united states of america. thank you very much. ♪ >> president trump in miami just wrapping up remarks on the turmoil in venezuela, slamming the ill effects of socialism there. also made it and lay veiled attack on progress is here at home. the president getting applause for a group of venezuelan americans. you saw it here live with us. we are alive today because this is big news that matters and you can count on fox business to bring it with you. we are not taken a day off like our competition. this is "bulls & bears." i am deirdre bolton and for david asman. kevin kelly, robert wolfe and john layfield. god to see you all. glad you are all here. what did you make of the president's speech? >> bears the foreign-policy talking about venezuela and the
political aspect as well. i'm a lifelong floridian. the hispanic voters in florida are generally very can earn. during 18 limassol the rest of them turning blue, florida again went very red. i don't know that they understand the mistake some of them made or if not all of them because there is bipartisan support to support guiado. it is a mistake to be on the side of maduro, whether cuba, venezuela for the lack american countries, most of them have lived with some sort of tater ship firsthand. it's the right foreign policy move and politically abyssal play into the larger theme going into 2020 that he stands against socialism. many democrats refusing to stand during that line. >> he did have lots of cheers,
but many from puerto rico but then relocated right after hurricane maria to florida and presumably they will vote democrat. we don't know. what do you think? >> i think this speech was binary. i think it was the right binary speech for him. it was pro-guiado and anti-maduro. that will resonate throughout the united states and throughout the world. policy i would agree with morgan that it hits the tone of where the u.s. is. i mean come it was a campaign beach. it was populist rhetoric and lot of applause and let's be clear, we are going to have two years of this. we are going to have a long two years. you're going to have 20 democrats doing beaches that will be watching. the president will be campaigning and all of us will be glued to the tv 20 for seven up fox and fox business so there you go. >> i think investors are actually worried about policies that could come out from different administrations on the socialistic side.
i think it is pretty fascinating that here we are today talking about socialism when we have added this good in a long time. look at the unemployment numbers. look at the knowledge rates. everything across the border, quality of living has gone up, yet people are now supporting socialism. it's pretty fascinating. on the business side of the ledger you're going to have a lot of uncertainty that could impact allotted the io. >> i'm going to let john speak that i'll respond to kevin afterward. deirdre: john, to you. >> thank you. i agree with what robert and morgan said about it. this is a swing vote in a swing state. as i would never have a credible or real policy to deal with cuba. it's the exact same thing now. double important now because socialist party has risen as the far left of the democratic party's agreeable to kill two birds with one stone.
i think guiado should take over for venezuela. it seems to be with the people want. that's who should be allowed in. but this is very political what the president has just done. >> the whole idea of the socialism populist rhetoric going on would be like me saying the republicans are just for the tea party. if we look at the four main issues, pro-immigration, and been for climate change, being forgotten reform and beaten for health care. deirdre: yakima health care was a big one. >> we should be clear in the 80% of the country went that way. the dems 140 plus he, seven governorships and they took back four of the five blue wall. to say those four things are not resonating, i'm not a populace, but i have worked on reform climate change. >> actually coming you would agree with me on those and i think we would all agree.
but the president does a great job marketing. he is the marketer in chief and it's going to to try to tagline. >> robber was totally right on what happened 1000%. the difference between eight and 20 is so far the presidential candidate or it was the furthest to the left. you see people -- you see local politicians here in new york criticizing the local government reaction. elizabeth warren, corey booker, and definitely deblasio are attacking the corporations and that of holding individuals accountable. >> something like alexandria ocasio-cortez, the for the first time in history a young woman got credit for something that an old white guy did. of course it was the local council. >> as i've said many times on
the show was for him coming to new york. having jobs of good. having high-paying jobs is even better. >> i actually side with not giving corporate welfare to amazon to come here. they were going to come to regard this year they split between northern virginia. deirdre: $3 billion of cash that was either going to go to amazon or to the city. hold that thought. president trump considering new tariffs. will this help or hurt the auto industry? we are going to debate it next. >> raising tariffs on cars and parts would be a huge tax on consumers who buy your service or cars. whether those cars are imported or domestically produced. ♪
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deirdre: president trump considering placing new tariffs up to 25% on imported cars and car parts. the trump administration must name foreign automakers and national security threat. domestic and foreign are up in arms over the equity you threatening retaliation at the tariffs go through. the panel is back. does it make sense for the president to make this move? >> nocona doesn't make sense especially with our allies. one of the biggest mistakes this administration has done is talk about how they want to implement tariffs on cars in the e.u. came over here and said let's do no tariffs on all cars back and forth and they finally give trump what he wanted and it's like no, nevermind and we did -- it is a shame we are using tariffs as tools against our allies. >> the whole premise is that this support is -- supposed to support american manufacturing.
there's something like $700 million in 2019 of these go through. gma big group of people that are actually in china, so now the tariffs will do retaliatory tariffs there is that they are not so keen to buy gm cars. gm said sales were down more than 20%. >> we do have to recognize the foreign automobile manufacturers are here in the united states operating and have factories here. >> bmw in south carolina. >> yakima bmws been in south carolina, not for very a good if you have them come out and say this could lose somewhere between 10,000 to 75,000 jobs. local dealers or lose somewhere between six alien dollars to $27 billion in revenue. you are to have gm making more cars than they have in the united states to get around things like this. this bust is idiotic or this hurts global supply chains. it's a misuse of presidential
powers. it is dishonest. the germans have not been a national security risk since the 1940s. they would like their foreign policy back as well. the president has done wonderful things with the tax cut in regulation. this is self sabotage. >> i would reiterate wholeheartedly what john just said, which is why i like deferring to him sometimes. i don't even understand why we're having this dialogue. when the great recession came, there were a few things in front of us. slowing housing, slowing auto sales, delinquencies. and consumer debt was over 100%. we have all of those again. some people talking recession. the idea to not pass a tax to the consumer and the largest consumer driven country there is in the world come to 74% of our
gdp consumer driven is to quote john, idiotic. >> i'm having trouble having something to add here. i don't know the whole back story of what's going on because as you said kevin, we did have the e.u. commissioner come over and get down to zero terrorists. my guess would he is the back story here has something to do between the relationship between president trump and angela merkel, which is clearly not the best relationship that it could be. i was in munich over the weekend for the vice president in a bipartisan group of members in the senate and house and i was there whenever merkel gave a pretty stinging goodbye speech and she specifically mentioned how upset she was about the tariffs. especially the fact they were can uttered national security tariffs. clearly there is something not in the headlines going on behind the scenes as it relates to the relationship. >> you are with lindsey graham and as an election coming out in south carolina.
he could not have been happier we are calling their largest plant to national security -- deirdre: they also have -- >> it's a pretty long list. >> it's a negotiation type it this administration uses this because the administration wants germany to spend more in nato. >> cut him some slack. he's tariffs man. >> tariffs not exactly the same as taxes, but amazon and netflix raking and billions of dollars a year in profits. how is it possible to both avoided paying any federal tax? we are going to show you the numbers next.
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deirdre: a startling new report reveals that two huge profitable companies, amazon and netflix paid nothing in federal taxes good as a reminder, netflix posted record earnings and amazon nearly doubled its profits from 2017. senior fellow friend in the dude on taxation and economic policy with us now. your organization broke the story. i know know everything those two companies did is legal, but how. >> well, the first team to know is that we can't really tell all the details from the limited financial disclosures that companies make, but it sure looks like they be used r&d tax credit and appreciation. a whole bunch of other tax credits. and as he put it, entirely legal means to reduce their tax bill. the notable thing about it is just how similar this list of
tax breaks looks to the tax breaks these companies were using two years ago, five years ago before the new tax law got passed. >> matt, john lysol tier. last i saw thousand plus tax code in one of the reasons we have a tax code to obfuscate it is because it allows politicians to buy votes. it allows politicians to give favors to amazon, netflix, people who will donate so they can get reelected which is their main concern. if we went to a simpler tax code, does this fix the problem because if you put a tax now on amazon, to me is just as wrong as giving them the break to begin with to get their money or the bow. is this what is and is not what does? >> there is a straightforward path to what we see here and there was two years ago leading up to 2017, any observer of the corporate tax laws would've said two things. one is that we are exempting a
huge chunk of profits. probably half of them through various tax breaks and the other because the base is so narrow we are applying an above-average corporate tax rate to it. the reform in 2017 and a sensible path now is to start with the hard questions. look at everyone of these tax breaks that amazon is using, netflix is using, dozens of other fortune 500 companies are using and eliminate them if they are ineffective or cost late and then see what you can do fiscally responsibly about the corporate tax rate. the difficulty is congress led with the easy stuff cutting the corporate tax rate to 21% and did very little to close loopholes command of starting february we can come back right now and start taken a hard look at loopholes. i would say that the way to go before we start talking about a new tax base are the picks the one we've got. >> hey, matt. this is morgan. question as it relates to payroll taxes and employment
taxes that these companies are likely paying. while they're not paying federal taxes, and they also probably paying billions in taxes as it relates to employees. it's not like they're contributing nothing. >> absolutely. it's inaccurate to say companies like this are paying taxes at all. this is the federal income tax. the problem is the federal income tax is the main tax related to the prophet of profitable companies that are supposed to pay. and so when you have a company like amazon with unprecedented profits of $11 billion last year, double the year before, every $2 billion that a company like that isn't paying his taxes someone else has to make up in a fiscally challenged environment and that probably means smaller businesses as you say don't have access to the same sophisticated lobbyist in the same tax avoidance strategy. on the road it means middle-income americans. so there are these other taxes
that almost any company is going to pay that they can't get out of. but it's always been the case reviewed the corporate income tax as a means of focusing tax collection on the companies that are best off. here we have clearly one of the most profitable companies in the world led by the richest man in the world and they are not paying a single attack their most expressly supposed to pay. >> matt comments kevin. what are the biggest loopholes these companies are using? >> for sure the r&d tax credit is one that needs to be reformed. a lot of a lot of people argued two years ago that accelerated depreciation, which quickly write off the cost of capital investment should effects. instead we moved to immediate expensing, in which rapid set up even more. we had tax breaks for conventional energy, trax picks for alternative energy. every are congress publishes a list detailing dozens of these tax breaks.
congress knows what they are and the list is available. the cost is available. if they have the political will to look at them one by one it is not a heavy lift. you don't need to look under a rock to figure this stuff out. they have chosen not to do it so far. deirdre: thank you for lending us your expertise. appreciate it. the mayor of new york city is slamming amazon for its reversal for part of its new hq two. the mayor says amazon is proving his point about money being in the wrong hands. . every curve, every innovation, every feeling, a product of mastery. lease the 2019 es 350 for $399 a month for 36 months. experience amazing at your lexus dealer. woman: friction points, those obstacles that limit a company's growth. i try to find companies that turn these challenges into opportunities. it's these unique companies
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they were right there for us. it was pretty impressive. - [announcer] call the hartford at. to request your free quote. that's. or go to. >> arbitrary decision. when you have so much wealth and power in the hands of very few it does not work or working people. i say there is plenty of money in this world, plenty of money in this country but it's in the wrong hands and amazon is making my point for me. what they did was arbitrary dunford working peel. >> new york city mayor l. deblasio slamming amazon after they canceled plans to open parts of the hq to win long island queens. local politicians criticized the deal that allowed amazon to receive $3 billion in tax breaks. your thoughts.
>> i will take the lead here. i don't think amazon should have never gotten tax breaks. my problem was what mayor deblasio was stating his money is in the wrong hands that he was trying to give out corporate welfare. i'm against crony capitalism, corporate welfare and that's what he was trying to do. him and the government were talking about the jobs it will create what have you but we've had apple come in, google come here and they did nasser corporate welfare get this mayor said to give it to amazon. deirdre: you don't ask him you don't get it. >> so i was again disagreeing. i think i'm to the right -- i want john to come in and help me because he's been helping me all night. >> this is ridiculous. having like i said good paying jobs with a good corporation is a good thing. this was an auction process. you put your best foot outward. they were not getting handouts.
they have hurdles to get the corporate tax benefit. those were based on jobs and revenues and how they impact the city. when i was at ubs, we change stanford. we change for corporate hospitality, travel, infrastructure. we got tax credits. we had to earn them. we had to have x number of employees. it's no longer in stanford here they come back and have moved here. >> listen, i can predict -- no one can predict where cycles are going to be and how companies are going to do. you only get the tax breaks when you perform. these are only performance metrics. if you get a benefit it's because it's a meritocracy than you earned that benefit. deirdre: google just cannot spend a billion dollars in chelsea. >> we don't know how much amazon would be spending. we only know that tax breaks
they would be getting and we have a lot more jobs in the city. this infrastructure needs to be fixed or you would've gotten better revenues. the truth is i'm a fan of congresswoman ocasio-cortez, but she was wrong these were being handed out. you can hire teachers or give amazon money. there was no cash being handed. this had to end. >> i'm happy to backup robert on us. i'm using on the right side with robert. we are using the right side not being political. ocasio-cortez was wrong on the spirit she talked about $3 billion. robert is right, no cash is being given now. $27 billion into new york city because of this deal. this was an open competition in the near politicians have gone on an abashed steel. you wouldn't have caught it. so you can build a wall about new york. you can say were going to help new yorkers.
you're not going to open any business whatsoever. >> you guys have to let me talk. thank you tiered >> 65% of new york tiered >> robert -- the thing that is most disingenuous to happen today is that mayor deblasio blame this on amazon because he's too chicken to take on ocasio-cortez and too chicken to take on the local leaders here in the party. those are the people in carolyn maloney had the guts to stand up to the congresswoman today. deblasio is afraid of aoc and he blamed it on amazon and that of himself and his local cronies. >> moloney has been in office for two decades. >> she was strong. >> renault interrupted the 65% of new yorkers support of this. i still think numbers work. thus the majority. >> imagine a world where belen mails have beloved iphone, and stop or chipotle would be willing to give a very specific
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[♪] reporter: is homeownership out of the question for millennials? 40% people it is. they say they would swear off instagram forever and a quite go to jail for a week if it meant they could own their dream home. 51% of boomers believe buying home is more difficult than it was 30 years ago. what is the fix. >> i agree. it's harder to buy a home, it's harder to get a loan. reporter: they have student debt. >> the cost of living is higher.
so i'm not surprised they would like to live the american dream but find it difficult. >> for the min -- the millennials giving up a home to buy a home? i would give. you my phone to get rid of the millennials. >> kevin and i are both grandma and grandpa millennials because we are at the end. but i think we should start picking on generation z. let's stop picking on millennials. there are two key factors. even just a half a percentage point will have an effect on home affordability. read per magazine point out that competition between millennials and baby boomers for the same
property. >> we have a lack of inventory. if we go back to 30 years ago, people didn't mort tbainl their futures to get an education. and that's what they are doing today. college tuition is very expensive. dierdre: thank you for joining us. see you tomorrow. president trump: a new day is coming in latin america. in venezuela and across the western hemisphere. socialism is dying, and liberty, prosperity and democracy are being reborn. the people of venezuela are standing for freedom and democracy and the united states of america is standing right by their side. side. liz: that was president trump speaking in miami, florida just moments ago, telling the