tv Bulls Bears FOX Business May 29, 2019 5:00pm-6:00pm EDT
absolutely, keep talking about it, today was not busy enough. we'll see what tomorrow brings, thanks for joining us, "bulls and bears" starts right now. >> if we had confidence that president did not commit a crime we would are said so, we do not however make a determination as to what the president did commit a crime. >> many constituents want to impeach of president. but we want to do what is right and what gets results. everybody wants justice. everybody wants the president to be held accountable. >> more than a little to do with stocks getting rattled today dropping more than 400 points, at session lows after robert mueller broke his silence, all of this fueling more calls from the democrats for the
president's impeachment. we have a live report from the justice department coming right up. this "bulls and bears," thank you for joining us, i am david asman, joining me today, christina, heather, steve forbes and scott martin, let's go to edward lawrence at the justice department for more details and reaction to today's events. what you can tell us? reporter: you saw house speaker nancy pelosi stopping short of calling for impeachment. but saying that democrats will continue to litigate and investigate. >> nothing is off the table. but we want to make a compelling case, an iron-clad case that even the republican senate, which at the time seems to be not an objective jury, will be convinced of the path that we have to take as a country. reporter: she is responding to
former special counsel robert mueller's 10 minute statement today, he officially washed his hands of the russia probe. >> i hope and expect this to be only time i spike too yo speak u in this manner, i am making this decision myself, now one has told me whether i can, or should testify or speak further about this matter there has been discussion about an appearance before congress, any testimony from this office would not go beyond our report. reporter: mueller laid out how the russians tried to systemically affect our presidential elections, and say there was no collusion with the president, on the subject of obstruction he was more ambiguous, saying if he was confident that the president did not commit a crime, he would have said so, but he would not look into the crime because of a department of justice rule.
democrats jumping on the bandwagon. 38 call for impeachment in the house, republicans say that formeformspecial counsel robertr closed the door on this probe, and so this congress. david: edward thank you. >> andrew mccarthy, great to have you here, what did you make of mueller's statement today? >> i don't think he could have helped the democracies more by anything he would have said in testimony. you know basically david, he said is if on obstruction. if i had thought there was nothing be o obstruction i woule said so. in this system, it is for congress to deal with president at misconduct. you know if you are jerry nadler, he gave you everything you needed at-this-point. david: steve forbes here, why
did you think mueller capitulated, this is different from tone of report he told attorney general barr, why did he cave? does he have the backbone of an eclaire or what? he's to go to cocktail parties with these people. >> i think what you saw today was evident in report itself. it seems to me that the one thing that he was arguably needed for, i say ash he was needed to reself question whether there was enough evidence to bring in an one vehiclobstructshown case, he wan decides no to the decide, that to me this is more of the same, if he thinks that president should be impeached, at this point i almost wish he would just come out and say it, but we
keep playing the games. >> we did see markets go lower today of the mueller report. i am concerned about investors going forward, that have to toy with idea that impeachment could be on the horizon. but andy, for you, you heard mueller's commentary, he started almost with russia, i am paraphrasing almost an adul asst on american democracy, and ending with russia. and president has ignored or disputed russia's involvement with meddling of election, is that right move at-this-point. >> i thought that russia narrative about interfering in the electiontion. i have thought that was really overstated, the russians have been interfering with our election since the bul boll --
revolution. >> is that okay. >> it has never been okay, it was not okay even before it happened to democrats, it is never okay. but the point is everything that the russians did, obama knew about in real-time. in the last debate between clinton and obama, about 10 days before the election, when trump suggested that the results might not be legitimate, he reserved right too question the results after the election, clinton and obama went nuts, how could you question the legitimacy of the election. that was under circumstances where everything we know about russia now, they knew at the time. >> scott martin, thank you for joining us. kind of%uant to christina's question, we have another year and a half until the next election. you think speaker pelosi has the
right game plan. she said they would continue to investigate, continue to litigate and so forth. mueller had two years. multiple millions of taxpayer dollars, didn't find anything, do you think she is playing the right hand instead of focussings on winning th the election in a year and a half. >> i think she focusing on winning the election, she has a hard job with a big divided caucus, some want trump impeached tomorrow, some in seats in districts that trump won that would prefer this go away. i think her strategy from the beginning has been to play good cop/bad cop, she will be the one talking about the positive agenda for the khan -- country, and jerry nadler and adam schiff will do the scud work on impeachment, do you think it was ever about impeachment? i thought to lineup with
progressionists, i thought counter intelligence investigation of a pretext to do a criminal investigation without a crime, that is a protect for impeachment. and impeachment is a pretext fr actual ajeane agenda to make trp unelectable in binding of autumn. >> how would that make him unelectable, i could see other side where it could hurt the democrats in case of impeachment proceedings, i think that speaker pelosi knows, and is concerned that preceding with impeachment may rally the base. go against democrats in 2020. >> yeah, i think that is a great point, that is why she is preceding cautiously, if there was a clear way to go, like if impeachment was the obvious thing to do, i don't think you would see any division among the democrats, but there is a real you know, there is a bunch of differences in terms of their approach to this.
some of that is because some of them are in safe districts, but some is because people like pelosi realize that if they go to hold the house, how election comes out is important, it could go either way, if they are seen as over playing their hand, it could blow up, they have luxury of time, i think they will keep their as on the polls, impeachment is a political process not a legal one. and if they think they get some traction which when they have additional impeachment hearings. and that i think will will go for the moment, you not getting an prime minister committee -- an prime ministe impeachment cof they think they get traction, they will go, otherwise they will try to bruise up the president. david: andy, go back to mueller for a second. he said something that really appears to be contrary to the way our system of justice works, he said, if we had evidence that
the president did not commit a crime, we would have said so. prosecutors are not supposed to prove you are innocent. they are supposed to prove that you are guilty, right? to use the negative there, he should have kept his mouth, shut, right? >> most disturbing part about this dave from the beginning, thahas been the way he basically turned the constitutional burden of proof around, so that not prosecutor's job to assemble sufficient evidence but now suspect's job to prove he has been exonerated and not enough evidence to charge. and that is not the american way, what is supposed to happen is prosecuters speak in court. you don't speak inn until you are ready forma formally on chae someone, that is point in your
system. we're not to collect information and then put it out to court of public opinion to taint people. >> andy, you know mueller. you know of the attorney general barr. why done muelle mule -- why didt mueller rise to the occasion. he had a brought writ, why didn't he investigate as barr will now have happen what led to this collusion business? what led to this initial investigation? you know the real story behind the story, about the misbehavior of the cia, fbi, the whole crew, why didn't he did that and go out in a blaze of glory this man rose to the acasion, i think barr is now doing. >> i think he was the powerfuly influenced by the staff he assembled. >> why did high assemble such a staff all democrat, so from the
beginning it had a political taint, instead of appointing people both saids say in is an impartial group, we will try to get to the truth. instead of a political agenda? >> yeah, i don't think him well enough to get into his head on that, a lot of these people that he picked are people he has been working with for a number of years. i do agree with you, that it is essential we get to the bottom of the investigative decision making, i think it good barr is looking in at that, i also think that you know, if mueller had regarded that as part of his mandate, maybe that would not have done so well either, maybe not as well investigated, i think it was fine that he just decided his mandate was to limited thing of you know was trump in collusion with russia, did he obstruct the investigation? i would not have wanted him investigating anything else, i don't think he did a great job
on what he was called on to investigate. david: andrew mccarty thank you so much. >> thank you. david: good to see you. david: despite political upheaval, the economy is booming, and president trump likes to credit his tax cuts for, that a new report is out, saying that is not act with the, we'll debate that, coming next. ♪ limu emu & doug what do all these people have in common, limu? [ paper rustling ] exactly, nothing. they're completely different people, that's why they need customized car insurance from liberty mutual. they'll only pay for what they need! [ gargling ]
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david: a report by congressal research service, pouring cold water on effects of trump tax cuts saying on whole growth effects of tax cut show a small if any first year effect on the economy. but if tax cuts were so ineffective, why did economic growth jump from 2.2% in 2017 to 2.9% in 2019. >> don't stop there, almost any other economic statistics, millions of jobs that are open for americans and take 401(k) balance at record level, and income gap narrowed.
people out of food stamps and poverty, but of the policies enabled, rhetoric is amazing to say they have not benefited this economy. when clearly the stats back up they have. >> i'll jump on the bandwagon, and say that prior to tax cut, we had highest corporate rate in the developed world, 35%, president trump and administration bringing that to 21%. and for first 7 months here in 2019 revenues up 2%. there is an increase in tax revenue, it is paying off. and i just think that the liberal media is painting the wrong picture, saying that middle class would not receive a tax cut when the facts and data show overall across the board middle class, middle income americans, they are receiving a tax cut. >> yet have you lower income people who feel the burden still on their shoulders, to your
point about corporate rate, look at economist tax rate of corporation, they may after tax from 17.2 to 8.8% in 2018, individual attacks rate stayed -- tax rate within 9% range. this argument not my argument but from other side is that focused on corporations, yes, 35% is too high, but itd it really need to be 21%. companies like amazon pay nothing in federal taxes. >> small businesses though in this country that do almost half or over half of hiring and economy growth need the tax cut, because of point that heather made, i am agree the amazons and ge's get or oomph out of this. >> combination of deregulation and ability to write-off business investment in year one
instead of dragging it out, helped small businesses. and as for effective tax rates lowers tax rate ended up almost collecting as much revenue as they did before, if they put in a flat tax, hint, hints, they would have an increase. >> mr. flat tax. david: you know how government works, you worked in it, this is congressional research service, supposed to be nonpartisan. but they serve congress. >> nonpartisan means they try to cover-up their bias. david: they are trying to please democrat majority in the house. >> yes, most of the economists are liberal, you know phrase about computers, garbage in, garbage out, if you program in low little bit of growth a tax cut don't matter, guess what? you get results that say tax cut don't matter, even as the economy grows, oh, no, you can't be. >> i am going to pivot a little
bit, i think that democrat focus on health care, here is hawaii congresswoman, speaking about this subject to neil cavuto today. >> i think we need to overhaul the whole tax system, president's tax cuts overwhelmingly benefited the rich and powerful. leaves behind vast majority of heard working americans, you can see gdp gone up, unemployment down, but those numbers don't tell the whole story, we have leak at quality of life of american people, many still struggling to makens meet. >> the fact is, low income people their wages are going up faster than middle class and upper fast, economy is benefiting people who really need the benefit. >> steve surveys say too, most of those folks you talk about have already reported an increase in quality of life, more income, it is funny, you
get this gal from hawaii, or you know anyone, korbinian holzer k, they say unemployment record low, and oh, it is -- it is all stats they are just using to prove some dumb point. >> but what do you say to people who say they can't afford anything, they move outside of large cities, because it is too expensive. >> good for them. >> inequality that continues to increase in america. david: let me say, wage are rising at fastest pace since before the recession, this research said well inflation you know made it 2%, but the fastest pace wages increase that affects bottom line of people's household income over 60,000. >> it really does, wage growth is growing not of the same pace as gdp, on track for 3 hers, but
we are getting there, it wage growth for lower income americans, those are the ones that need it most. >> job. >> yes, jobs, unemployment 50 year lows that is a good them, more people are employed than ever before. steve, as a supply side ir, cio we have more room to cut tax any more? >> if you consider -- tax cut a marathon attacks bill of 2017 where mile half of one mile, just beginning. >> say lot more we could do. and when they say it might hurt washington, washington supposed to serve the people, not the other way around. >> heather your question is known as a softball, that steve forbessed -- >> all right. >> thank you so much.
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david: break news prime minister netanyahu futear i future in qu, israeli lawmaker voting to dissolve parliament. netanyahu failed to put together a ruling coalition before a midnight deadline, he appeared set for a fifth term after his likud party won 35 of knessets 120 seats he denied any wrong doing and accuse his opponents of mounting a witch-hunt, netanyahu said she is confident
he will win in the next elect in september. >> china threa threats to raises in trade war. they are key components in cancer drugs, and consumer batteries and fighter jets. how concerned should the u.s. be about the threat? >> china has been threatening this for last two weeks, you had president and vice premier go there in a big media, vent last week, telling united states, you mess with us, we'll cut your supply, that a big supply, the alternatives are myanmar, and australia and brazil, can u.s. mitigate and shift supply, today a u.s. spokesperson for u.s. defense department spoke to
reuters saying they are going to do just that. >> china needs to sell rare earth minerals, they may sell them to another party which will sell them to us, oil embargo in 19 70s. oil came here but not from the arabs. markets the find you a way to get what you want, a little higher cost, but it spurs production, and expiration because other supplies know they can get in a new market, just as sadly what we're doing to our farmer, china will get other sources for soybeans. >> in 1980s we depended on other country not necessarily brazil, but south africa, so, unfortunately, u.s. has shifted our supply chains to relying on chair for rare earth metals, we should be concerned in long run, perhap we can recycle some of
the waste. but i think it say problem if they follow through. >> i think that chinese though, part of this is muster, trying to position themselves in negots a, they know if they did a formal cut off it would hurt them more politically, that would help trump, he will be able to say i'm standing up to these people who worry trying to hurt you, and democrats, especially biden will be in a weak position on that. david: scott, another part of this discussion this panicking about losing rare minerals we have the same panicking during peak oil craze, then we discovered fracking, in free market, kind of related, you find the a way of -- getting what you need. >> water resources too, that is interesting. you are right, this is really an indication to me these trade
talks are not going well, they are getting further apart, every day that goes by there seems to be another pile on from one side or the other, saying. this me this more worrisome from a symbolic stand point versus if china will follow through. >> i would echo that sentiment, give than maybe china can play this game a little bit longer than we anticipated. united states needs something very soon with this second round of tariffs, the farmers, farmers will be hit, then we'll get hit with the more expensive products, i am just waiting. >> also purpose to point out -- important to point out it is not just president trump and administration that push booked to china even democrat bernie sanders. david: chuck schumer. >> yes. >> bernie saying they destroyed millions of decent paying jobs in america, and president obama say we need to confront the issue on china and trade, and
bill clinton saying we should stand up to china. >> let's bring it back home to illinois, desperate for more revenue, looking to stem exodus of people that have been leaving the state, now looking overall the tax system, but ceo of nonpartisan illinois policy institute said, not only is the new glance -- plan not going to work but particular open door for the highest income tax in the nation, john tilman is here next.
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200,000 a year, john you, residents to vote no. why? >> because it won't solve the problem, they claim to only raise taxes on top 3%, they have 97%, middle class in their crosshairs, they made so many promises for more spending proposed revenues of this tax hike would not come close to filling budget cathay have created here -- budget gap they have created. >> this is heather, i read your statement, saying one of best indicator census report, showing illinois is losing population on rate of one every 4.6 minutes. why are people leaving? >> people are leaving because they lost faith in the political leadership of the state, when you look at problem we face, out of control spending, spending is
growing faster than revenues, political class thinks the way to fix that is take more money from people, people are moving elsewhere, they have lower tax burdens when they move next door to indiana, or iowa or wisconsin, people are voting with their feet. why i believe we're see the measure defeated in 2020, which i think will beginning of a revolution in illinois. all they want to more revenue, they will go after middle class, and working class, netflix, uber fees, doubles gas tax, doubling been tax, we have 19 taxes all in all there is november enough, time to stop. >> john. you are not in chicago, that does not look like chicago. in your background. i aflawe applaud.
>> i am in beautiful arizona, i heart governor ducey with arizona talking about reducing, it was breath taking. >> i'm on my way. let's talk a little bit, you mentioned every is gets hit with new tax plan, how about dirty word called recapture on folks making a million dollars, can you talk about that? glld thi. that. >> if you make 999,000 you pay a rate 6.95%. but if you crest over 1 million, you pay 7.95% on every dollar over but they go back and recapture that tax on first million, they create an insensitivanincentive for peoplp
earning, those are the folks who are trending and buying new machinery there are their workers. >> hiring people. >> you may know if you take word greece and translate to english it comes out as illinois. worst financial state in the union. >> thank you, steve, i appreciate that. >> how do you break the grip of speaker madigan, made clear over years, governors don't matter, this guy runs the state, how do you break that strangle hold, and how did that happen in a state of illinois, the land of lincoln. this one guy controls it. >> well speaker madigan is elected out of one district in city of chicago but democrat majority made him speaker for twtwo -- for all but 2 years sie
1983, no question she is senior partner in partnership with governor pritzker, they want to continue to fund out of control spending, most amazing thing about this they are not talking about pension reform or spending or health care reform. but the way you break the grip of speaker madigan in 2020 for people to be well informed on this issue, and vote against it that is my personal opinion. and that will be the beginning of end it was speaker madigan, i will say we don't think he is immortal, he has been around a long time, but at some point he might want to go to florida too. >> why so much money in illinois. >> he is making a lot of money here. >> i want is bring it back to flat tax versus progressive tax, some say progressive is unfair is treats rich and poor differently, rich bearing most of the burden, but those who
argue flat tax overlooks fact that poor people pay larger portion of their salary and income to basic needs, survival. you shake your head, steve is right now. however, there is argument for both sides, i would like to hear yours with the flat tax and how that does not help the lower income population. >> then you can hear mine. >> one argument is correct, the poor and income inequality suffer every bit as much or more to progressive taxes, you need to help poor people rise, you they rise through economic opportunity. it gives people opportunity too rise, you put in progressive tax it slows that down, reducing opportunities for poor that number one reason that flat tax always creates more prosperity, why states like florida, arizona, and or i am sorry florida, texas and tennessee,
they don't have income tax have some highest wage, and highest wage growth for the poor. that is why flat tax helps everyone. >> and also flat tax many of us propose give generous exemption to people, family making 5200 a year, -- real question for taxes on lauer income people is payroll tax that is where you need real reform, a florida flat tax would help create a environment with that reform. david: payroll hits everyone. >> dollar one. >> a great point, other part that governor pritzker is hides behind. a plastic bag tax, higher license fees, games taxes, marijuana taxes. >> can -- john. hit on the corporate tax,. >> quickly. >> they raise the rate then they
give the tax breaks to keep companies from leaving, crazy. >> bottom line, we'll have i believe second highest court rally ta--corporate tax rate ine nation, that is why it would be a disaster, and. and. >> john tilman good luck too you. >> thank you. >> good luck to scott martin as well, still living in chicago. david: we're less than a month from first presidential debate for crowded field of 2020 democrats but qualifying for a debate later in the year got a lot harder, we'll tell you how next. patients that i see that complain about dry mouth,
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you on that. are the new rules fair. >> that was a lot of numbers. but in past, people have complained it was too easy too run for dnc, now have you 24 candidates, of course, they want to widdle it down. you have to get rid of three to four people. >> christina. get a bigger stage. what happens some years ago. they screwed over bernie, they put hillary in they thought she had a better chance to win, they gave her answers ahead of time, she still lost, this is there are attempt for dnc to handicap the race and get folks in front. in hopes of meeting trump. david: you have been in a couple debates. >> they have to win on the feel otherwise they look -- on the field otherwise they will look
ridiculous, and be butt of comedic jokes. so then they go for individual contributions, who gets that individual contribution? those on most extreme side who can fire up activists, you see more extremism trying to stay in, which is not helping the party, that will help the republicans. >> in 1988, 7 democratic candidate that ran, republicans called them 7 dwarfs that pales in comparison to 24 candidates work have to ask, why are so many running. what is behind that. i think it easier access to money and media. >> media. >> and there is deep division went the party, dnc saying it might be ready to rally around a handful or few or one candidate, if you are just going to attack
each other in the end it will hurt nominee chance of winning. >> although in last round for republicans in 2016, you had snea17candidates. >> let me jump in. live shots from anchorage, alaska, well bill barr is on vacation. he is speaking at alaska native justice center, a round table discussion, to onely in betweeny in between fishing trips, let's listen in. >> hello, greg. >> hello. david: we'll monitor this, if he says anything about what mr. mueller said today we'll bring it to you, final points on this issue of democrats running. i wonder if basically all they
talk about is how bad donald trump is? i think there will be more of that. >> you don't think they will attack each other. >> why are so many people running? they do a different sense of grassroot activist thing. this is work thus far how much money some of them have raised but i think that they will hopefully, start taking some platforms, showing what they want. >> i think all we're going to hear is anti-trump stuff, unlike republicans in 2016, donald trump was an active participant, where they beat each other up. >> do you use uber or lyft, starting today you could be booted off the uber app, what you need to know about the company's new policies next.
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the state of jalisco. the city of guadalajara. the results were a reflection of our family and the results were really human. i feel proud about my identity. new features. greater details. richer stories. get your dna kit today at ancestry.com. david: starting today uber is giving boot to riders with low ratings, ride sharing company saids new policy about holding riders and drivers accountable. they have not disclosed what ratings get riders deactivated. >> uber is trying to clean itself up, a uber driver that unfortunately murdered a passenger, it on both side. david: what kind of qualifications get you booted. >> they you can't insult the
driver oriole or vomit -- yell, vomit, you can't have sex with the driver other, a lot of get you booted from uber, in case you were wondering. >> thank you. >> this is a great idea, also if you leave trash in the car. that you can belated poorly, get the boot, i think now time takeo sefolosha -- the tables have turned, if you are a poor customer, you are no longer allowed to use services that fair. >> i can see lawsuits now. david: true. >> with crazy system dragging it through the courts, we neat tort reform. >> how much are they trading now. >> i say, heather you mentioned poor customer, at the risk i need a ride home. >> be nice. >> that is it, sometimes you want a ride but you don't top
talk, i see someone pop up picking me up, they are known for a great conversation, i cancel that ride. david: another point, maybe dissing uber on television could get you booted, we lost our uber card. >> you could say no conversation if you get a black car to steve's point this could be a sign for future could black mirror in reality, your voting and rating scores dictate if you can use product or service. >> you know your stuff, i don't think that scotty martin does. >> come on. >> whatever happen to notion that customer on -- is always right, it used to be they were never told how to behave. >> in a normal market, you vote with your dollars. i -- you don't have to bar riders, just look at their score, say, nope, i'm busy.
david: i don't know, we'll see. >> we wish them the best, nobody here wants to get booted from uber. >> or enrich the lawyers. david: right. that is it for "bulls and bears," thank you we'll see you next time. elizabeth: robert mueller breaking his silence, he will will not testify and not clear president trump. here is the question, will blue dog moderate democrats go along? they are key, we debate that. you are looking at live pictures of attorney general william barr at alaska native justice round table in alaska, we'll keep you posted if he addresses today's fireworks. >> this story matters to your money, stocks down on fight with china, sell-off kicked to high gear when robert mueller spoke, dow sinking 410 at low, in end stock closed off of sessio