tv Making Money With Charles Payne FOX Business August 11, 2016 6:00pm-7:01pm EDT
the first time since 1999 all three major averages closed at record levels. 16s & p stocks hitting all-time highs. numerous other retail names as well. charles payne is here. "making money" starts now. charles: all three major averages soared higher. dozens of top republicans are urging the rnc chair, ryan is prebus to redistribute funds to the house and senate and stop spending money on donald trump. and a report shows be information from centcom was skewed to make isis seem less of a threat. >> if you add up all the taxes from cutting taxes fromr for the
wealthy and corporations to deporting immigrants if the loss would be the loss of 3.4 million jobs. charles: hillary clinton lands in michigan to deliver her counter attack. clinton laid out her agenda to create jobs at the $275 billion infrastructure project. but she did seize the opportunity to paint donald trump as a crony whose policies would actually destroy the middle class. >> there is a myth out there that he will stick it to the rich and powerful because somehow he's really on the side of the little guy. don't believe it. >> she'll make a speech today and talking about what she is going to do to the country. she doesn't talents to do it. if she wanted to do it, just remember this.
if she wanted to do it, she couldn't because her donors wouldn't let her. charles: whose economic message will resonate with the american people. joining me steve moore angels qatar love. which one do you think is best for the economy and what resonates with voters? >> i can't quite answer the second question about the politics of it because that's not my strong suit. but hands down, even though there is not -- there are things i don't like about donald trump's message. hands down his tax plan is much better. great idea about overhauling the regular early toy system which is cumulative of all the regulation that we have as an incredible drag on the economy. and finally someone who talks about doing something.
i think his energy plan is well designed and well implemented could go a long way to create economic growth. hillary is just a speech that's a great reminder that if you didn't like the result of the last 8 years in economic growth, this is exactly the same we are going to get. there are no new ideas. >> i can see the conundrum a classically trained economist might be in. but i thought it was more of a speech. how do you spark the economy and how do you share in the spoils of the economy. >> i understand that and obviously already a lot of programs she adopted from bernie sanders. talking about free college and public universities. yufer -- universal pre-k.
and because hillary laid out her economic plan so early on in this and we only heard trump's official plan on monday, she was making more of a political speech there and drawing the contrast. it's interesting to listen to vzronique and her view. just way she was even framing it is exactly how donald trump wants to it sound to the public which toys say i'm simplifying your brackets. i'm making things -- charles: donald trump is talking about growth. >> moody's said she would add 10 million jobs and donald trump was going to lose us jobs and we would head into a recession. i know we'll have a plan coming out as we move forward monday,
but i think she is talking about growth as well. >> steve, i have got to ask you about that. she talked about the trump loopholes. essentially this gets back to politics of envy. donald trump is setting up an economic plan that assures he and his rich friends get enricher while the rest of them get scratched. what would you say to that? >> i would say every business in america, there are 20 million small businesses in this country and several hundred thousand larger businesses, and they are all going to get a 15% tax rate and hillary is as high as 50%. we'll hammer home which creates more jobs, a 15% tax or 50% tax. she has a tough sell there. everyone who runs a business will get a tax cut. and trump said if i get a tax cut, i'm going to plow that money back into my business and
hire more workers and expand it. that's what i think most businesses will do. we have the highest tax rates in the world. we are seeing businesses leave. and this is going to be a magnet attracting them. i want to talk about this. your plan versus our plan from now until november 7. charles: i'm sure you do and we'll fit it in as often as possible. let me ask you about this. the last couple years there was a point where corporate profits were at an all-time high. corporations were plowing that money into their own stocks. a lot of people were sceptical that more money on a balance sheet corporations means more money in their pockets or greater prosperity. >> the constant bashing about corporations and what they do with their money and how everything they do is for greedy
reasons very often tends to forget the environment corporations are acting in. and we have for years now a huge amount of uncertainty, and the market and companies don't like uncertainties. and they do the next best thing, they know to do, to try to keep surviving. sure some businesses may try to profit. just try to do things that we can look at and say -- but it is til their money. we need to not forget the environment these guys have been operating on. unbelievable uncertainty. again for years, the corporate income tax is horrible and it forces corporations to keep their money abroad. they get accused of being horrible and greedy. it's time to create an environment that allows
companies to operate without tons of uncertainty. let's see what american corporations can do in an environment that's conducive to running businesses. charles: the highest tax rates couples with the -- coupled with the war on business. while hoik rr was in michigan, donald trump is meeting with pastors in north carolina and appealing for support from the crucial evangelicals. >> you will have great power to do good things, and religion will start going instead of this way, with christianity, when you think of what's happening, when you look at the numbers.
i talk about sunday school, people don't 10 know what i'm talking about. charles: did donald trump do enough to convince this group of parishioners and get them out to the polls. the polls are pretty strong for donald trump with respect to evangelicals. but it looks like he will need an extraordinary turnout from them, not just in the voting booth, but to get out the vote for them. >> not quite super natural turnout. what he needs is to connect with evangelicals. he's working very hard. he did not have overwhelming support in the primaries. but he's connected with them on two important issues. he said without religious liberty, we have no liberty. he's connecting with a
constituency that is increasingly feeling the attack on religious liberty whether it's a football cope want to go pray on the field or a baker making a cake. this election will determine the makeup of the supreme court for another generation, and that doesn't take a lot of explanation to evangelicals to let them know what's at stake when you look at 1973, roe versus wade. then the court redefining marriage and throwing out 50 million votes of americans. charles: i'm not sure if the laws supersede the direction of the country or vice versa. it feels like younger folks are i don't want to say rejecting religion. but also more in favor of things like abortion and same-sex marriage. how does a presidential candidate deal with that, and
what should his role be promoting those core christian values? >> i agree with a poring that statement. charles. what i have found is i have done a lot of work -- i wrote a book, "no fear," profiling young evangelicals in this country. there is no question we have young people rejecting the organized cherp, but not necessarily rejecting faith. there is a stronger strain of commit to the one's faith among the younger generation than my generation. they have soured on politic. you have had promises for generations to end abortion. which this generation gets overwhelmingly pro life, more so than their parents. on human sexuality, there is a live and let live phase. but as they see the conflict with religious freedom and the freedom to believe, those are changing as well. but it is going to be a challenge reaping those younger
people. but they are not the ones who vote en masse. it's the over 50 crowd that votes. charles: also the younger folks have to live with these rules. charles: one thing turning donald trump is a temperament issue. when people talk about terrorism and the economy. overarchingly it's that one particular issue. do evangelicals have a problem, what they like to see and tamp down on the temperamental issues? >> there is no question. that's why he's still having these considerations trying to build a relationship. it comes down to two choices. we have hillary clinton, we know exactly what she'll do as president. she'll support and appoint liberal justices to the courts. we don't know exactly what donald trump will do. we don't completely understand
his temperament, but he has been taking the steps to assure people he will nominate strict constructionists to the courts. he's not messed with the party platform which is the most conservative in history. and he's having a conversation in the general election with core conservatives which generally are overlooked in the general election. he's working hard. i'm optimistic. but more evangelicals and social conservatives would be comfortable if he dialed back the temperament and had a more christ-like attitude when it comes to the political realm. charles: tony, thank you very much. i appreciate your wise words. they were great. i appreciate it. coming up. donald trump is consistently beating hillary clinton when it comes to the economy. did her speech do the campaign
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charles: donald trump, hillary clinton have been knock each other's economic plans on the campaign trail. >> donald trump wants to give trillions in tax breaks to people like himself. i want to invest tonight veterans, our kids, our police officers. >> she voted for tax increases and she is proposing a big one today in her speech, her
teleprompter speech. charles: donald trump continues to do well when it comes to polling on the economy. but will the dueling mess ands play out in november. lisa booth andly charred goodstein, there is another thing when we talk about how it resonates with people on main street. we have both candidates who across knowledge the pain and anger but have two distinct ways of remedying it. >> hillary clinton can't do much because she has to embrace the policies of president obama. all donald trump has to point to is the pain and suffering of the middle class and the pain and suffering of americans. we have 100 million americans out of the workforce or unemployed. we have president obama who will be the first president to not hit 3% economic growth. americans are suffering. we see the decline of the middle
class under his policies. the same policies hillary clinton is going to continue. charles: barack obama was re-elected and the economic conditions were even worse back then and he ran against a successful businessman. >> his policies have been rejected by historic margins. you look at the loss of the senate, the house, and 12 governor seats and state legislature chambers. i would say that he has lost by historic margins. hillary clinton is running on bowel *'s third term. she can't even really mention bill anymore in this equation. and most people don't feel good. most people think the country is moving in the wrong direction. >> where president obama's
popularity rating is. it's about exactly where ronald reagan's was before he passed the baton to george h.w. bush. you talk about not mentioning bill clinton. i'll bet she mentions the 23 million jobs. charles: she won't mention the work welfare program and incarcerations. >> she'll mention the private sector job growth. and the collapse -- when george bush, he got his way with a republican house and senate. he got his economic policies pass and we had the largest economic crash in a century. charles: i don't think it's going to be 8 years of collapse. but the idea maybe lot of -- a lot of people think we need a different system that's mixed with social i am.
millennials, 18-30, 50% have a favorable impression of socialism. bernie sanders got 13 million votes on this platform. maybe there is an appetite out there for something new. we know people want something new. she may prit and stay how about we change the way capitalism works so everyone can benefit. >> voters vote on how they are personally impacted. when you look at voters seeing triple digit insurance premiums because of regulatory policies like obamacare. you look at the fact that the comb industry has been decimated by the regulatory policies. you look at individuals who lost businesses under this regulatory climate. americans feel like they are paying enough already, and hillary clinton wants to raise their taxes even more. people vote how they are personally impacted. they may say one thing or another in terms of the way
these questions are being couched. but they know how they are personally impacted from a financial standpoint. you look at wet were it's the fact that homeownership is in decline. median income this decline. people have been personally affected in a negative way because of president obama's policies. >> the threshold question. charles: the jump in premiums in healthcare could be the october surprise. i understand president obama trying to push that announcement to december. the republicans, let's call it the establishment, continues, dozen of top republicans urging reince priebus to shift the focus of resources away from donald trump into the down ballot key senate races. we'll tell you all about it when we come back.
charles: well republican establishment defection from donald trump continues. urging rnc to shift resources away from donald trump, letter still in draft form, only the immediate shift of all available rnc resources -- will prevent the g.o.p. from drowning in a trump around its neck. it is to be september out to the chairman of party next week. is the time for the party to start focusing down valid? are they being ungrateful? kelly, almost of day with this stuff. you wake up, you look, it is 50 of them here, senator there now. they had a huge 8 million. i don't think they would have got they money without donald trump.
>> you are right, he is the one doing the fundraising. they are contributing, the small donors, not the big hedge funds, this is just another ploy from the never-trumpers, there are a small group of dc insiders. looking at who signs letter a bunch of former republican operatives, and current whose in best interest to maintain the status quo. it is going nowhere, rncsigned a joint fundraising agreement with donald trump and don campaign, not to mention rnc and him combined locked in on a party platform. and reince priebus has been in touch with donald trump on a weekly basis, they have become good friends. >> really. >> tough love.
charles: i am sure he is under some pressure from some of these folks, but. why, what the heck is going on? >> let's not believe what we read in "time" magazine, charles, ever. >> you had to hit me on that on one. [ laughter ] >> that is right, when i think about the 70 republicans, the establishment, i think, there they go again. they are approaching this as the establishment. trump is opposite, they are reasons why he is the nominee today. i think reince priebus you know for him, this not an either/or decision, this is resources that kelly raised, he has to pick his battle as best he, can in battle ground states where donald trump needs to win is where many senate races are.
charles: let me ask you about ohio. how would you allocate cash there. >> as long as portman is doing well we don't need to spend as much money in senate race, but we still need to invest in the presidential race. two different races going on there. we'll have to spend money in ohio, super pac will have to spend ad dollars in ohio. the problem you know that is going on, there is a false correlation with polls. where donald trump is not polling in a given state well, then sense cat can -- senate candidate is not polling there like in pennsylvania, they claim that coalition is between the two, that correlation does not exist. rubio, for an incumbent is a lousy senate candidate, he lost 67 ou 66 out of 67
counties in the primaries to donald trump. >> kelly, what happens from here. one thing to have these sort of end party disagreements, but they continually make them public. and it feels like it is more than just idealogical differences but it feels like there are a lot of folks in the republican party that are trying to sabotage donald trump. >> that is the right thing to think pause that is what is happening. -- because that is what is happening, they believe he will destroy the western democracy, he is a greater threat to this republic than hillary clinton. i for one feel that we cannot go another 4 years with liberal regimes, and maintain the culture, and spirit of america that we have today. that this is a dire choice, that needs to be made, hillary clinton has put national security at risk with her, nail scandal, she -- e-mail
scandal, she lies, today there is moreover lap between year work at state department and clinton foundation, they were a pay to play operation, she is just going to buy and sill the government in the white house. charles: some people have kushy jobs there they don't want anyone to upset the apple cart. charles: taf task force found u.s. central command was downplaying just how much of a threat isis was. are we beating isis? we'll be right back. ♪
charles: a new report found that intelligence was an up lated. -- manipulated, released today, sparked by a whistle blow, shows intelligence was knowingly manipulated. downplaying the threats from isis, centcom said they are reviewing the findings. but will not coming beyond because of the ongoing investigation by task force.
a central issue for voters. this could prove to be significant. we'll break it down, chris canty, with you. i don't get it the we have been hearing that things were going swimmingly. we're not sure what to believe . >> in iraq, but they have a in libya pushed back as wo as we speak, they have operations in europe, the talking points are untrue, now we find they are traced back to false fixedal in-- fictional intelligence if
you will. charles: brad, what woulding excuse be for -- would the excuse be for something like that in moral purposes? >> i want to be clear, the gentleman said they are expanding to southeast asia, i want to be clear, isis, while a serious threat, the word isis is being prosecuted strongly by the administration and defense department, any notion they are not is ridiculous. let's be clear on. to mislead the american people is never something that should ever be done, there is no excuse to misled the american people. to my knowledge, nobody is saying that this respect is -- report is misleading the american people, what is at issue are a couple of facts and figures that may have been
spoken about in such a way that you know can be debated. charles: right. >> to say this rising to level of say yellow cake in bush administration, where they lied. >> it is far worse than that, you know in american, a student was killed by isis in bangladesh because she could not cite the koran, commander of centcom, mislead congress because this phonied up intelligence went into testimony this is a big deal. charles: bringing in steve rogers, does this make distinc distinction. >> the war is not being prosecuted because of this administration, the hands of the military are tied, all my years working with military intelligence, i never heard or seen military personnel in
uniform, skew any type of intelligence. this had to be on orders of someone outside of military. this is like vietnam, they skewed the body bag count so that american people would not get to concerned. they are doing the same thing, this is for political purposes, military people would not do this, buying doing that, they put the lives of their own troops in danger. charles: if it is true, then, what would you think? >> i share the panelist views of our military and armed forces, i am not claiming or saying that anyone in uniform did this intentionally or not. but, you know, let's not turn this into something that is equivalents to what happened under the bush administration. where the bush administration and vice president cheney lied to get us into war with iraq that caused this situation to begin with, which lead to deaths of tens of thousands of american lives, hundreds of
thousands of iraqis. you know, to create a moral equivalentsy at-this-point is just crazy. you be -- >> i know that -- i know that is old get out of jail card, you know we did something wrong and deceiving, but. but i don't know that is working any more, brad. >> the thing is. charles: we're finished with this segment we're out of time, thank you all, i am sure we'll talk about it more in coming days, thank you. >> thank you. charles: all three major averages in stock market closed record highs it has not happened since 1999. that is right, you remember the old prince song. my market commentary is next, you don't want to miss it. hearty that gives you fast-acting, long-lasting relief. it immediately neutralizes acid and only gaviscon helps keep acid down for hours. for fast-acting, long-lasting relief,
crude oil helping all 3 major averages, also, brick and mortar not dead? wow, but what is the real story. i'll have it for you next. i wodon't know where i'd be without itre so when i heard about con-artists committing medicare fraud... it made me so mad i wanted to give them the old one-two one, never give your medicare number to get a free offer or gift two, always check your medicare statements for errors these crooks think we're clueless, they don't have a clue it's your medicare, protect it see more ways to fight fraud at medicare.gov/fraud
charles: i mentioned this week you never want to short a dull markets, markets get dull and lackluster in august. but the stock market has been anything but, this month. today unique one-two punch was higher crude, and better than expected retail earnings. and energy coming up, more sign that central players in the big oil war they are ready to blink. a consumer name that soared, all went up because macy's and kohl's blow away wo wall street consensus, and macy's said, they will close 100 stores next year.
we're seeing strength in luxury retailers and discount retailers, that was case again today. it dovetails with signs of increases consumer spending. there no doubt that the increase in credit card spending and lower savings means that trend cannot much longer unless wages increase soon. but for now trend continues at least tomorrow, after the bell nordstrom with a huge beat, may beat by 12 cents, and raise guidance, the stock is through the roof, if you want to trade this, i would like at tiffany's tomorrow, it is on cusp of a major break out. and broader market, keep an option on oil, this is key, and don't short a dull market. >> coming up, market may be at new all-time highs, but is it true barometer of the overall economy? the debate gets more and more
charles: some would say finally the economy has become the central focus of the presidential campaigning this week. one thing we've seen that market has been giving us hard data, we talked about retail stocks among worst performers, in last 12 months, but today, macy's and kohl's, and guidance that helps too. maybe the denew demise of brick and mortar is not there yet. a lot of people keep saying that the market not main street.
bringing back my economic experts. steve, i know that years ago the stock market was a barometer, if you will or proxy, for the economy. there are so many things involved in the market these days, that is not true any more. but what is the true state of the economy? we're not in recession are we? >> business sector is close to a recession, i think what is going on. how long can stocks keep going up when wages are flat and falling. i think there is a disconnect betweens real economy and financial economy. that is why i am not as bullish as you are about the stock market and months ahead. looking at construct, and manufacturing. if oil price rises we'll see some better numbers with oil. but that will negatively affect manufacturing and construction and strays like that.
charles: most of the economic data has been good or i guess from wall street pound of -- point of view beating the estimates. what do you think the clear state of the economy is right now. >> people feel we're on the wrong track. an important indicator is economic growth, the economy is not growing at more than 1.9% on average next 10 years. it is less than this for next 40 years, that is assuming no recession, no slowdown, that is unrealistic, the reason why this matters, steven you point out, what people and their standard of living and their income per capita isin driving the economy, they save their money that is reinvested in businesses. it is really important, and if the economy take it from someone who grew up in france,
we have always had sluggish economic growth, this makes a big difference. charles: you have better wine and cheese than we do. but, having said that, steve, earlier in the week, warren buffet said 2% growth all be phenomenal, people would see wages up to 79, 80,000, he said we should be accustomed to this growth, to celebrate it. >> no, we're not europe, i reject that. that is a new liberal line, that this is the best we can do, i reject that the trump campaign we think we'll get 4% growth, look it not that hard. i think that you can get the 4%. and no, i hate this diminished expectations, i hate it! >> if i can add something. we have a study coming out,
that shows that it takes 35 years to double income per capita, it only takes spheaf 17.7 years to double per cal capita. charles: usa, usa. >> 2% growth, i never want to hear that. >> not good enough. charles: i'm coming out for cheese later. >> donald trump announcing his plans, he was sounding interesting this morning on a different network, like, he had plans in case he is defeated. is he bracing for a loss? is that something wrong there? we'll discuss that. that oomph was not there today, we'll be right back. it's a fact. kind of like grandkids equals free tech support. oh, look at you, so great to see you! none of this works. come on in.
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meltdown, chronicles missteps of trump campaign, and frustration that party has because of it, trump asked about his future plans, he had an interesting answer. >> just keep doing the same thing i'm doing right now, at the end it's either going to work or i'm going to have you know, have a very nice long vacation. charles: joining me now to discuss dick morris. and richard goodstein. i have seen donald trump many times, it felt like maybe he was lackluster today or just talking about maybe it could work or not work. what did you make of it? >> all media hype, crazy, ridiculous. there are two polls out this week, one bloomberg with him going from 11 behind to 4 behind. other rasmussen from 8 behind to 3 behind. and this is been a great week for trump. you would not know it from media, hillary on difference, all about e-mails and cash
payment to iraq. he had a great economic program, he did not rise to the bait of hecklers. charles: "time" magazine cover, today, i know show, mark chided me for reading it. but every now and then i see the cover, they have been friendlier, is this a sign maybe progressives and media smell floo blood in the water. >> i am they want blood in the water, but 70 republicans who say redirect your effort, there is a party reactor line am going on -- reactor line a reactor linement going on. the 7 republicans, that prob globalist types. charles: it is does your party smell blood in the water? >> i do think that clinton
campaign's to overcome any sort of compl complies comply sansy. up shod on new york time. charles: ja yeah. they have pretty get track records, whether 70 republicans or -- when paul ryan says, we need to make sure we're a bulwark against hillary clinton presidency. charles: let me ask dick a question, a new poll with latino voters, hillary clinto hill 66% and donald trump 20% do those things worry you. >> that is same as romney .
>> he closed two-thirds of the gap this week. >> all right, thank you very much. here is lou dobbs. lou: i am lou dobbs, damns ne ing new report. finding that obama administration manipulated and falsified intelligence on the islamic state to make it appear as if the obama white house were winning the war on terror, top officials at u.s. central command gave a rosie view, of military success, when the facts on the group were far from rosie. and reasonable conclusions different from those offered by central command to the obama white