tv Cavuto on Business FOX Business February 26, 2017 2:30am-3:01am EST
the high bid etf. >> hour embedded in the water, nike is coming strong. and let me say i do not remember brenda, brilliant marvelous woman. dagan:also our friend alan calls. neil is next. >> taxing or waiting? is the timeline for the tax-cut slipping away as the president prepares to turn up the heat on congress? he is getting a healthy hand from a lot of folks in the corner office? >> it has been 30 years, substantial changes to the tax code. this is a unique opportunity to put american competitiveness back on global front. >> we could do more in the downstream if there were corporate tax rates, very keen on seeing corporate tax rate come down from a tights. heather: 8 i am neil cavuto,
gerri willis with ben stein and charles, all these ceos meeting at various times, keep it rolling, went to see the regulatory relief. >> you pay less taxes, a dream for everyone watching the show. heather: 8 that is not -- you left out adam. >> when you have steve mnuchin, obamacare first, tax reform is complicated, that is when it starts getting worried, it is complicated but lowering taxes ronald reagan lowered taxes and a couple years later big time tax reform. ceos are excited but have to
follow through. >> one thing that treasury secretary was saying is we see it still happening, it is ready to go but in the same interview, the impact of it is late 2018 development which gets you the impact after the midterm elections. >> impact in late 2018 and not late 2017. heather: 8 the impact is because which is about normal. >> waiting that long, economy and stock market have to adjust to that because the economy is not going to reflect what a doubt 21,000 economy is if you wait that long and stock market won't rollback, down 20,000 is predicated on 3% annualized growth and $3 trillion on gdp
extra where it is now and if we don't get this thing, who knows what happens after that we lose the impact which we could be in for the mother of all stock market corrections. heather: 8 the market held up well in the face of this delay. it is a delay. what do you think? >> unless the president embraces the border tax it could be chaos. where do we go next? heather: 8 they do it without it they insist on paying for it. they don't want a 10 year bill to do it again. >> the iron he is this is one of the most politically popular ing's the president could have done quickly. there was widespread support but as we point out in the corporate
community, not among people who voted for him and a significant minority of republicans in congress. >> the border adjustment tax, tax reform, getting copies of tax reform. >> no one lowered taxes? hard to believe. what about average american small business owners -- >> what they were not big on was having to pay for it. i don't know what i just asked but i am confused. ben stein, if it turns out we get the tax cuts delayed, we don't know what is retroactive, problematic rollout. >> i like the question why we are having it at all since it is $20 trillion federal debt but i approve the idea of gutting the corporate income tax to the
owners who shouldn't be intermediate step but why we need to cut taxes on middle and upper middle income tax payers i don't understand as we are running huge deficits, and don't see the rationale of it. to cut taxes you need a more prosperous country. that is not been proved. >> not proven if you cut the corporate tax good things won't come to the economy? >> the corporate tax should not only be cut but eliminated. >> i agree with you but why is it good for the economy to cut the corporate tax but not if you could individual tax rates? >> it is more honest and clear-cut and transparent to cut corporate taxes as an intermediate step. >> why do you get a fiscal
policy boost just from corporate taxes? >> you greatly increase corporate earnings and that increases the stock market and the wealth effect is highly debatable, then improves spending. >> declining individual tax rates cause people to spend more and -- >> we don't know that. we do not know that. >> i thought supply-side evidence from ronald reagan proved that? >> my friend of many years, the fact that one thing happened and another thing happened does not mean first thing caused the second thing. heather: 8 you are being fast and loose with this. there is no doubt revenue came in, doesn't think it became because of tax cuts. what i will agree with is when
the revenue did come in it did come in and whatever prompted it to come and republicans and democrats spent it, there is a separate judgment here where cutting taxes for corporations is virtuous, not so for individuals and i don't pick and choose the benefits from that and you do. >> this is what i was trying to get at, debate among republicans in congress this is the political problem the president faces in trying to do what i believe and most everyone on the show believes is a reasonable economic and fiscal approach but he is not getting to it and won't get to it anytime soon. neil:he has been president for a month. >> he has gone to these other political issues ahead of this. he could have gone to this first. charles:i really think i am not
sure republicans embrace revenue neutral stuff and we started dissing the idea supply-side economics did not work and what was not a good idea for hard-working -- the hard-working american people of this country to say they don't deserve to get more of what they earned but corporations should? those corporations pay a lot of taxes, i really believe if they don't do anything else president trump made a promise to the people who entrusted him to the white house, get the lower tax rates right out of the gate. small businesses also. >> so you get what been called higher earnings and all the stuff that applies to corporations. charles:and a real wealth effect. neil:you should be ashamed of yourself. i am so glad they are on remote. i can't look you in the eye.
nasa's out of this world discover, 7 earthlike planets that can support life. coverage of the president first. starting at noon on tuesday i will be in washington on foxbusiness network, back on fox news channel and fbn for prime time coverage and did not miss our sitdown with steve mnuchin, big reaction to this big speech and whether the numbers the president was told about were outlining that might make sense the next day. you never know.
democratic official telling the president of the united states to stuff it when it comes to executive orders on illegal immigration. connecticut governor daniel malloy will not comply, going after sanctuary states in this case. you say the president is within his rights denying that state federal funds. >> of course. it is a federal issue that was laid out clearly in the constitution, the immigration issues are federal issues. these people are behaving the way southern states did in 1861 when abraham lincoln was inaugurated. they have started a second civil war and it will not be fought with guns, i hope. it will be fought in the court but they are lawbreakers and should be ashamed of themselves. federal law prevails and they cannot interpose themselves like southern states tried to do in the civil rights era between federal law and their citizens. that is not allowed, that is not the constitution.
neil:malloy in connecticut, a message to state police, puts them -- don't do this. that is weird. >> let's be clear, the federal government does certain things in the constitution, it is embedded in the law. civil rights is one of those things. civil rights mandates on states protecting the border is another one of those things. neil:what would change with this plan? what the president wants to do, you can no longer shield illegals but not like law enforcement would be going after them. just in the course of stopping someone and you discover they are illegal you can go ahead and start deportation. charlie:it is a sanctuary city, if a new york city cop arrests that person they don't have to turn them over to federal authorities. neil:punished for your crime or
whatever you have done, you cannot be -- charlie a different topic, not a purely analogous situation but malloy is acting like george wallace did. >> i am shocked these governors feel they can act on their own personal whim and don't have to abide by the law. in new york the same thing is going on the cops who you think would take direction would be happy -- neil:he would not go along with this but what it is saying is you are not doing a night's raid in the upper bronx, you stumbled across someone and then you shouldn't be here and you are proceeding getting kicked out of the country.
that is very different than going en masse to people. andrea: it is night and day. some of these police forces are saying if nothing else help us out because some cities having of crime on their hands, we don't have the resources or time to hold these people. i think it is a copout, reflection of local politics and i don't think -- even if there were a different republican in the white house i think a lot of these places are treated differently. andrea: it blurred into gestapo tactics. by going after illegals who are here, even accidentally discovering them, it doesn't make sense to me. >> it is not clear federal funds can be used in a punitive
nature, i will punish you, that isn't the spirit in which they were intended. what do you do? >> no question we have laws but we also have a problem, presidents bush and obama tried to have comprehensive immigration for to address this. >> another way to address this -- >> it will spin out of control. neil:what are you going to do? adam:as i said the last two presidents tried to address. >> it is a different question. >> what do you do if the governor of a sovereign state goes out there and -- >> when push comes to law the federalized to stand and i am saying we should look for a better way. neil:we don't have time.
pipeline protesters seem to think so. >> an illegal immigrant just recently deported and captured again making $70,000 a month while getting $900 a month in food stamps more proof the putting illegal immigrants putting illegal immigrants committing crimes helps protect no, i'm scheduling time to go oto the bank to get a mortgage. ugh, you're using a vacation day to go to the bank? i know, right? just go to lendingtree.com. get up to five loan offers to compare side by side for free. wow, that's great. wait, how did you get in my kitchen? oh, i followed a raccoon in through your doggie door. [chittering] [gasps] get a better mortgage on your schedule. not the bank's. lendingtree. when banks compete, you win. just think of him as a big cat.
neil:7 minutes have gone by without my promoting myself. the dakota protest testers leaving a big mess when they leave their camp. that a lot of fires, clashing with police, just a mess. what the heck? adam:it is not my preference or how i would protest. neil:there's an alter ego to you. >> when the cameras are not rolling, you caught me off. we should air on the side of protesting free speech. >> what do you think?
>> these guys are lawbreakers, criminals, vandals, setting dangerous fires. a number of the fires are chemical fires, extremely toxic, these are bums who should be in prison. >> absolutely right. what they create an environment -- they got a free meal, a doctor's appointment, all these people stuff to get out of there but injured two children. that is something i want to mention. >> they soiled everything. we saw it with the occupy folks and women's march, the trash they leave behind make a bigger statement. they left a lot of trash behind. leave the trash behind. what your mother said about --
>> one of those pictures looked like the great kills landfill. there is a new realm of protest on the left we should not be saying is constitutionally protected, one of violence. the vietnam war, we are not there yet but moving in the direction of bombing, now it is lighting fires, throwing breakthrough windows. you saw it in dc, these are lawbreakers who should go to jail. spend a couple nights in jail and learn -- >> losing a couple. >> a couple weeks. neil:we all agree on that. two of the nicest people who don't like coming on this show. in the in time, this record run we have not seen since ronald reagan. whatever happens to the averages, stocks keep it going
jackie: as an 18 year old, i let my mistakes kind of take over my life. i was point-five credits away from completing high school and i didn't do it. angela: i got pregnant and i was the main one working so, i did what i had to do to survive. jocelyn: sentía que la escuela no era para mí. karim: most of my family they never graduated high school or even let alone go to college so i'm trying to break that barrier.
jackie: my family never stopped pushing for me to be better because they knew what i could become and who i could become as a person. karim: everyday after work i went straight to school, studied hard, and it paid off. jocelyn: sentía como que si quiero cambiar el mundo tengo que cambiara mi primero. group: surprise! surprise! surprise! angela: i could not have gotten my diploma without my family. jocelyn: mi consejera, ella fue lo máximo para mí porque me ayudó mucho con todo. jackie: i've been given an opportunity and i'm just thankful for it. angela: yeah it's hard, but keep on going and keep on trying. karim: the high school diploma has just added to the confidence and now i feel unstoppable. narrator: find free adult education classes near you
at finishyourdiploma.org. wow. college already yeah! we gotta go ♪for all the truth that you made me see♪ ♪for all the truth that you made me see♪ i love you. ♪for all the joy you brought to my life♪ i love you too daddy. ♪you're the one who saw me through♪ ♪through it all and thanks...for, everything. ♪you were my strength when i was weak♪ ♪you were my hopes when i couldn't speak♪
>> did you hear him? who you calling stupid? cost of freedom continues with david atman on the place for business. u have other venues, but you're wasting your time. f fox. >> protests are continuing over the president's policies on illegal immigration. an illegal immigrant caught in the u.s. was smuggled methamphetamine every month while receiving $900 a month for food stamps. that's why some say cracking down on illegal immigration will crack down on our tax dollars. are they right or wrong? let's find out. steve forbes, rich, mike, elizabeth macdonald, bill baldwin. even felons are