Cavuto on Business 01/27/18 11AM | January 27, 2018 Breaking News
Look. I hope that that's true but, we're boiling you don't think. Alaniz. Going to do this in their life, no. It's, that we're borrowing. The money to, give to them to do this so, it's, not just. Their. Money austin they'll. Talk about the money that they held abroad now, they've been incentivized, to bring it home tax rate should be zero percent you say it's their money should there be no taxes, well wait a minute I'm talking about the money held abroad focus just on that that one time of it where they bring that money back home in one, big company's case they're investing, it a prominent. Democrat it runs the brokerage for. You. Answer. JPMorgan. Chase is, going to invest twenty billion, dollars. Over the next ten. Years precisely. Incentivized. By a tax cut now keep in mind the diamond is no fan personally of the president in fact he's a prominent Democrat, Lloyd Blankfein, of Goldman Sachs calls. This the Trump economy, boom what, do these people see that you apparently don't. Know. I look, as you know Neil when I was in the Obama administration, I was part of the group advocating. We should find a way to cut the corporate tax rate and they don't object to that I encouraged, and called for that what. I'm saying is if you're, not going, to pay for the tax cut if you're just gonna borrow the three trillion dollars, that it would take to, pay for it then, it is perfectly. You. Guys never paid for a little spending you did we had a ten trillion to our debt that's not that you weren't worried about that then you where is Americans getting you tax relief now worse you, are simply factually. Stated. Go up ten trillion dollars under your watch or did it the debt went up at the beginning of the administration as. You know because, we had the deepest, recession, of our lifetimes they. Then cut the deficit, more, than in half by, the end of his four, days. Not were you worried about the spending that contributed, that debt you yes worried about tax cut relief only to Americans, and companies then, you are about the spending that complicated. And for those to deal you're you're being disingenuous, that, is not true did the debt go at the time the. Devastation. I told you perfectly, well we were concerned about how to get the deficit, down once, we got out of. Respect. Agree, we have two different memories of this but, Thank You Austin very much good having you more. Argument. Right after this. We're. Getting a lot of the mail, good and bad Texan like on not that exchange I just had with Austin Goolsbee two former top Obama economic official, the gist of it is this I find a little hypocritical for, Democrats of that administration, Democrats, in general boo moaning adding, to the debt or paying for something they, seem to pick and choose their battle when it comes to tax cuts versus spending but leaving that aside, also. Dismissing. Whether, a thousand dollars is meaningful or not even in Austin Goolsbee case they thought that was a bit of a stretch and and, did look bad for Republicans, to, have to counter that kind of argument from, Democrats, now we'll be speaking a little bit at Bernie Marcus he's a co-founder of.
Home. Depot one. Of the many many company he's sharing the loot with at least thousand dollar bonuses, to, workers potentially. More to come if the numbers work out right Bernie joins us right now Bernie essentially. This back and for the Democrats, saying you, know a thousand dollars is jump change it doesn't really move the needle much you say what. I. Say. That that that, interview, you just had is the most incredible, thing I've ever heard I really, actually laughed, out loud. You. Want to talk about somebody, who is off. The charts, and doesn't understand, reality that's, your last guest its Schumer, and Pelosi. $1,000. Is so meaningful, and I give you an example of Neil I spent my life on the floor of the stores at, Home Depot that's what I did almost. Every week of my life I was in stores all over the United States and I. Talked to customers and I taught their employees, and I, can tell you that $1000. Is more, than meaningful. It's it's it could be paying the, mortgage it, could be paying for a car repair it, could be paying for a pass to bill the. Things, that that, the Pelosi Schumer. Group don't have a clue, about that's, why they lost the election it's as simple as that they, are, so busy with their elitist, in San, Francisco, in Hollywood, in New York City and all, these money, deals, that they go into week after week after week and Clinton. Never, knew about the real people out there and that's why they lost the election and that's why they're gonna lose the next election for the same reason, they, when they start talking about crumbs, to, people in America, where, these are not crumbs its, lifeline, and more important, than that there's. There's, something happening Neil that's critically. Important, that makes. More sense than everything else we. Had a we had a thing you know I'm involved with job creators, Network yes which is really. Benefiting. The small business guy we. Had a conference call last. Week this week and. We. Talked the small business guys here's, what they told us, number. One what are they doing with the money and by the way this is tsunami you, hear about Home Depot you hear about Microsoft. You hear about Google. But. You're not hearing about the, people that really count out there and that's the 30 million businesses. Small businesses, in America now. Now. This money flows to them let me tell you what they are saying I have, a pizza guy in Florida that I'm aware of he's, going to redo his pizza parlor completely, he, hasn't been able to do for three years he's changing, the whole thing over he, figures he's going to be able to hire two more people he, can expense, the. Cost of. Redoing. His property. That's. Important, that's two people I spoke, to a guy who is on the phone who, manufactures. Cookies well, he's going to he's going to hire, three or four people now, you. When, you start adding that up to. Millions of businesses, and by, the way they're, all paying, higher. Wages and, why are they paying higher wages because. Suddenly, in America jobs are being created all over there's, becoming a shortage, of workers. Out there so, qualified, workers, are getting more this, is doing, more. You know this hold $15. And they went on the streets and they went against McDonough well you know what it's happening, through, the free enterprise. Lost. In the source of this argument I understand you know Democrats. Have said there may be some of them embarrassed by their no vote worried that it could come back to boomerang on I'm giving, this unexpected, pay it forward thing that companies are doing and trying, to imitate and maybe the companies can't afford to get more on and maybe they that, you know they got such largesse that they should care more but, that's not the point they also have the option of not of, not doing this so I think you get caught, in in oh yeah, they should give more and oh yeah they should bottom. Line here I don't think people appreciate the. Magnitude, of companies. Small and large doing, this and the effect it could have on the, economy I have no idea it's gonna affect Republicans, and whether they can still hang on to the house and or Senate no idea whether it's going to lift the president's, approval, numbers I do know this that. Consumer, sentiment, retail sentiment, even in the slow fourth quarter picked, up to a degree in a pace at which we've not seen in ten years, so there's something going on here and I suspect, I suspect, the, tax cuts and at the time coming, and hoping, that they would come to fruition are, a big reason. Well. Neil. You, have to understand something number. One I don't think that most of corporate America or America, believed, that, this, tax was, going to happen I know, that job creators, network was the job, trade this network was very effective, in making.
It Happen, with. Along, with some key, senators. That supported it like bran Johnson. So. Suddenly you don't think that overnight. You, go from 36% in taxes. To 21. And you just take it and throw it out that's, not really, the way business, works people. Are sitting down now and figuring. Out their future, they're saying look we, now have this amount of money that we didn't have before, we're who we intelligently, remember. This is not the US government when. They make an investment they do it because there's got to be return, on invested, capital the, US government Spencer because they have it so, they're gonna do smart, things they're. Gonna make smart, moves. That'll take a period, of time just like the small businesses, this is not gonna it's not gonna tear overnight. Corporations. Are not gonna open 14, buildings overnight, come, on give me a break you gotta use your friends. I mean Democrats, use a stupid, brains you don't have any brains. Listen. You're calm, listen. You're calmer than I am you, know I've been watching I've, been watching, this scene take place for a while right and and I don't I just don't get it I just don't get their thinking, you know what's good for America, Neil what's, good for the American people let's stop thinking about politics. Is this good for the Democratic Party, does this mean we could take the presidency. I mean let's start thinking in terms of, really. Lifting, up the lives of the American people. Creating. More jobs taking. More people, off of food stamps I mean that's what it's all about and, I think that I think that Trump is actually, is doing, what he said he's gonna do and that, is so a unique, and unusual for, a politician, to get, up there and do what he said he's gonna do it's, it's shocking it's, just well, apparently it is for a lot of folks Bernie. It's always a pleasure my friend thank you very. Very much a man who attacked me a lot of jobs for a lot of people created. Home Depot and his elective joke with him he isn't even remotely Andy but, it had nothing to do with his success, his. Guts did Bernie. Mark is the home depot co-founder, well, you know he. Was mentioning, now that was President Trump you know there are a lot of people despite, what's going on the tax cut fraud and the pickup, in the economy all that who are opting, not to attend, his State of the Union address, could. That be a mistake now there are a lot of Republicans, who say that I want you to meet the Democratic, congressman Emanuel cleaver. Who. Says it's a big mistake as well he's, here. Chuck. Will make a deal he'll make it happen, he nobody, wants these. Children, I don't have many, in my state so it's not a pressing, issue in the state of West Virginia but, I have a heart and I'm sympathetic and I have empathy for these yeah but he took the wall off the table, no he did not okay, yeah, the, funding for that he says he's, he's. Not let me tell you one thing we. Need to have border security Neal I'm voting, for border security there's other Democrats, will vote for border security all. Right Joe Manson telling me do. The wall as, soon and it looks like the president is gonna do citizenship, for a lot of those dreamers do, we have a deal let's ask rich Edison he's following this very closely at the White House Ritz what are you hearing yeah, good morning Neal no deal yet and lots of time to negotiate at least in Washington, time until the early part of March but the White House does have a proposal, on the table, it's been largely rejected by, Democratic, leadership, but the deal is for them at least the, White House and we're talking of course about these.
Dreamers Folks brought to the United States illegally as children the, president, says he wants to provide a legal staff, status. For, the so-called daca, recipients. 10, to 12 year path to citizenship, for as many as about, 1.8. Million, people but in exchange the White House wants 225 billion dollar trust fund to, fund a border wall system, eliminate, the visa lottery system and end, chain migration yesterday, the president was discussing. This saying that he does want to keep these folks in this country. Everybody. Wants to self the daca problem they've been wanting to solve it for a long time it, should have been solved by President, Obama would have been easier to solve it especially, when he had the House and the Senate they could have solved it in in, a day but. They didn't solve it he didn't solve things and he did something that he didn't have the right to do you understand, he did an executive, order and that. Was no good and by the way. Senator. Chuck Schumer simply, says that the, White House is using, dreamers, to, get, daca, back to you or to get what it wants to, get what it wants yeah all right thank you very much buddy all right in the meantime you've heard by now the stories on Steve Wynn the casino mogul who has been charged with multiple, counts, of sexual misconduct he. Says it's a sham not fair all part of a vindictive. Divorce. Proceeding, going on with. His ex-wife now the company is weighing in with a statement and. All I can say is it's a doozy. Steve. Not, a winner at least this week when almost every other stock was every other sector, was not so when it came to win resorts of course the. Devil right now by charges, that Steve wind the head of that company mister, casino, in fact one of the biggest players in the casino industry worldwide. On, charges. Of, harassment and, worse sexual. Misconduct and, worse he, says there's nothing to it the company is looking into it Loren Blanchard in Washington DC with. The very latest as you look at a stock price that tumbled just ten, percent in one day alone what's the latest on all of this morning ya know Steve, Wynn is a big donor and the finance chair of the Republican, National Committee. He's also been called a great friend of the president, now in light of these allegations, Democrats. Are insisting, the RNC, returned, contributions. From Wynn however, we have not heard if the party will do that or if Wynn is planning, to step down from his RNC, role now the report yesterday from The Wall Street Journal, alleges, dozens, of people have accused Wynn of sexually. Inappropriate, behavior. And details, settlements, paid out to former employees now. Wind denies the allegations, telling, the journal it is quote PO Posterous the, board of directors, of the Wynn Resorts, have released a statement saying, they formed a special committee, to investigate the, allegations and, quote the board is deeply committed to ensuring, the safety and well-being of all of the company's, employees and, to operating, with the highest ethical standards, when. The Harvey Weinstein, scandal, broke Democrats, were called on her to return, their contributions. From the Hollywood mogul, now they say Republicans should, do the same with the wind money Neal, all, right Loren thank you very very much I want to go to my friend Fox Business that was David Eisen what, he's hearing on this and the repercussions potentially. Of this. What do you think I'm hearing that it's over I'm hearing, that it's over that he's, got to give up his Republican, position, as a fundraiser. He. Was he was sort of the CEO o of the Republican, Party, in terms of getting, money from. From various friends that he had and he was well well.
Situated For that position but the Republicans, have got to drop them after this what one thing that we have learned over the past couple of years of all of these scandals, here and elsewhere is that it. It snowballs, you you hear of a couple of incidences, and then there all sorts, of women that come out and say this has happened to me this is happening so that is what, is expected with a lot of people but this is this. Guy is Las, Vegas I mean he was he started out his father was. In the bingo business, of all things his father died in 1963, he, took over the bingo business which was on the East Coast in Maryland, and then New Jersey and then, moved to Las Vegas he saw that Vegas was the place to be built, this Empire himself. I mean he is an extraordinary, entrepreneur. That cannot be discounted a flawed. Human being certainly. According, to what the Wall Street Journal is detailing, and by the way that was a great piece in The Wall Street Journal, terrific, he says it's not so so we don't know what the deal is here we do know that he is the wind and wind so he, without, him but what then, I think. It's it's a big, big hole that's why the stock went down ten percent yes I may as you points associated when it's, it is the signature his, own signature that, is what, makes the company is is the company's icon so. What. Has me reverberating, effect beyond just his company, I've been well, they look like it did once again Vegas, all. You have to do is watch an old version of The Godfather which, I'm sure you've memorized by, now it's fine, no aspersions, but I'm just saying. McGee's. Has from the beginning been a place for showgirls, for all kinds, of stuff going on, most. Of which would be if not, illegal, at least totally, improper anywhere, else in the United States so one. Has to assume that Steve Wynn is not the only executive. In Las Vegas that's going to be called and again as we saw with with the entertainment, industry, afterafter, weinstein, etc, you. Not only hear more stories about one individual, but then other individuals. Come into the mix so I imagine, a lot of people in Las Vegas are very nervous right now all right thank you David Addison every months and again just, to let you know Steve, Wyndham said there's nothing to this part, and fall out of a very very nasty divorce. Case, that has been getting. Almost tabloid, soap opera-like attention, and that that's what's contributing to this we just don't know way to early but we'll keep on top of it to, David's point though the stock did tumble on the, day down ten percent one day all, right in the meantime a little, bit of news made here on, rumors that the, administration, and some Democrats, are in kind of agreement, on the basic tenets of a daca deal that, would still quote for building a wall and.
Eventually. Get legal status for up to, 1.8. Million illegals, largely the children of illegals who got into this country that. Doesn't necessarily fly, with all the Republicans for example including, this. Next one other phone with the snap Republican, congressman, from Ohio. Jim Jordan congressman, good to have you you're not a fan of this why not well. I have concerns. My. Main. Focus is we need to do what. Is consistent, with the election of 2016 and what I mean by that is the American people voted loud and clear border security while in chain migration to stop the beast a lottery deal with this crazy sanctuary. City policy that has to be the focus of legislation. And then, oh by the way we will also deal with the daca folks so I want to see if what the president puts forward actually. Squares, with that mandate that the voters sent in November. Of 16, so we're gonna look at all, right so if he's talking about. Still. The wall oh Lord definitions. The walls seem to change by both. Sides at. Chuck Schumer is open to, or reopen, to funding. Something like that. Could. You live, with, that even though even, though it would call for eventual, legalization. Citizenship. For, for, up to 1.8, million of these, yeah and like I said I think a number of conservatives, going to have real concerns with it it's. Much better obviously, than Graham Durbin Graham Durbin was basically, amnesty. For the folks that came here illegally expand, that to approximately, two million number that said that the president's talking about but do very little on border security which. Again I think is just opposite, of what the people elected. Us to do you know I always say we, make this job too difficult, our job and it should be should be real basic what, did we tell the American people we were going to do and it was clear in that election, that, the focus should be on securing, the ball, doing, those things that make our country safe and adhering to the rule of law so let's make sure whatever legislation we come up with is much, closer to that than. What Graham Durban has and I tell you where we should start is the, bill that chairman, Goodlatte has introduced in the house that's been worked on by congressman, Labrador and others that, is a good piece of legislation I know that, legislation, it's, consistent, with what the American people finish to accomplish, you, know a lot of your colleagues are saying they never get a consistent, read from. The President, on this issue that in fact it was his 180 Lindsey Graham said on the, whole daca thing and what seemed like an agreement that, propelled, this so people are confused, where the president, stands are you know. I mean. The president this is an issue that I think helped, win him the nomination certainly, in the Republican primary he's reversed his position on. Daca if that's the case from the one. He's. Also been very clear on border, security wall, on cane migration, and we just need to make sure we do those things in the same migration, that is in the legislation actually, is stopping, this the unlimited. Flow of folks who come once someone gets here so that, to me is the key if you look at the Goodlatte legislation, what I hope happens is, next, week when we go back into session we pass that in the house and we put down the marker this is the standard where we should focus and, if we're going to move we're not going to move very far from that piece of legislation because. Again and I keep, coming back to this but I'm convinced. This is the case the, American people elected, us to do that, kind of legislation not graham Durbin not, not something that that that is light, on security, and big on amnesty so that's, what we got to focus on and I think if we passed that in the house that will help set the tone for the debate and get it a better piece of legislation yet there's going to be amnesty, here Congress and it sounds like there's going to be a nesting citizens or whatever you want to call it so. Whether it is a wall or not can you live with that well. If, there's if we're going to deal with the dock situation, which we've all said we should right let's, have the focus be first get those security, measures in place we, need a cylon reform we need to deal with things we, need to get rid of the people I. Understand. I just want to be clear because it sounds like part of that deal will. Also include eventual citizenship, for up to 1.8, million maybe more of these folks you could live in as, long as it's not a special path for those individuals, did they have to get in the back of the line they here to the rule of wall I think I think most Republicans are, okay with that but not if we don't get the security, with it the border security that everyone knows we need alright understood sir thank you very very much good hang on all. Right the president he's going to have another big speech before the nation is State of the Union address, and much like is inauguration, some, have opted not to go there at all a lot, of Democrats say they think he's a racist they, can use a waste of time so they're not attending I want.
You To meet the Democrat who says you know what you got to grow up. All. Right they're beginning. Some of the protests on Capitol, Hill right now the day had been promising, we're gonna get to that in just a second, here oh they're nothing of the magnitude, or number last week or certainly on the, president's inauguration day you might recall on Inauguration, Day a number, of very prominent Democrats. Opted not to attend, now. Some, of the folks you see here whose images you see here including, representatives. Or a blooming hour and John Lewis and, Maxine Waters Frederica. Wilson among. Some others not opting, to come to the president State of the Union address. I think in Maxine Waters case she's giving a separate response. Apart from the separate response. Of we're going to hear from a representative Kennedy, having, said that I wanted to get a lay. The land on this and whether they're going too far Emanuel cleaver, joins. Us right now the Democratic, congressman, it takes a look at this and says everyone, I think. If I'm getting the gist of what you're saying congressman. Is everyone's. Got to take a chill pill here right. Well. Absolutely you, know section. Two, article three, says. And, I'm paraphrasing it from time to time the. President of the United States. Must. Give a report to Congress on the State of the Union so. I'm as a member of the House of Representatives, the. President's going to issue a report I'm, going to go there and. Receive. The report I'm not at all pleased with some of the things that the president, has said, about. Places. From which my ancestors came or all, of what he said about Frederico, Wilson and so many, other other, things there's a potpourri of things that, I'm not pleased, with but. You, know in the rubble that is. Washington. DC I always, have to remember who, I am and so this is not about Donald Trump this is about me I'm a member of the House the, president's, coming to the house to, issue a report and I'm gonna be there many. Of your colleagues are not some of them are saying given. The comments he made about s. Whole countries and all of that that, he's a racist do you think Donald Trump is a racist. Well. You, know I'm always hesitant to use that term although I've. Got to say, Donald. Trump seems. To always go back to this issue. With. Something he says or something he does, and. You. Know I, don't, think it bothers him, that. In fact some. In Washington believe that he actually wants, that, word to be the the the racist term to be thrown at him because he thinks it strengthens, him with, a section of his base but I, don't, know I, do know that if a, racist is a person who constantly. Utters. Comments. That are racially, insensitive, that. Something is wrong with him and it's based on race so. When the president talks about. African-american. Unemployment the, lowest in recorded history, and, the, improvements, he has made for african-americans, and has said during. The campaign, pointing. To African Americans what the hell have you got to lose Democrats. Have done nothing for you at, least I'll do something for you you say what. Well. I say, that the, president should start. Out by doing a couple of things and and, I would then accept what he says first of all by. Even. The, standards, of many Republicans, this. Is the. Least, diverse White House staff in in. Recent, times. Certainly. It doesn't, even come close to George HW, Bush, and, or. His father. But. The thing you, know, he's not going to do this and I think you're not talking about this before I would. Never have, four children I would never say to them don't apologize, no matter what if, the president came out and said look I've said some things and all of us have but I want to deal, with what I've said and I'd like to apologize to the the, people that I have insulted. And I, will, watch my language in, the future, my. Goodness man, all. Of a sudden they're, gonna be some people who're gonna say you know I better I better hold up on, some. Of the accusations I've been leveling at this at this president. I don't, think he'll do it and. It. Bothers, me that he won't but. You know when, somebody shows you their colors that's not the time to become colorblind.
All, Right yes. See these protests, are just starting now in Washington DC I think most of them congressmen, are about the, tax cuts many in your party have called, these. Bonuses. That companies are giving out before the individual, rates kick in chump. Change or, insulting. Crumbs of. What a thousand bucks still appears, to be a good, deal of money the companies don't have to do. That so is it a mistake the way they characterize. This do they sound out of touch, well. I think, yeah. I don't think we need to dismiss, people, who are getting $1,000, the, issue that I think we're and and frankly you don't talk about these months ago but I think the corporate tax rate, appropriately. Was reduced I had, no problem with that I think the the the issue here is that. When. You look at the. Benefit, the. Benefactors. Of this, tax. Bill, it. Leans, so heavily toward, the wealthy, that. It, is a turn-off to many, people but, that turnoff shouldn't cause us to say but the tournament is. Congressman. I mean obviously this seems to be getting more popular every day the latest polls. Seem to see a 10-point, swing and support for it so whatever. Is going on you I guess what I'd ask you is is is, Nancy Pelosi or some of the leadership making a mistake to characterize, it the way they are and if Democrats should take, the house in the fall would you support, her. For. Speaker. No. You're, asking really tough question yeah. This. Is not fair I, think. You. Know I'll. Just be very candid if. The Democrats win back the house it, will be, infinitely, more, difficult for. People to say all, right we just won the house that's okay. Nancy Pelosi oh I just, I can't see. That happening you. Know now I don't think that you know that the leader. Is planning. On trying to be around you. Know for. 15. More years I don't, think that's I don't think she has remotely, thought about that so, well, I think she's thinking or at least another Congress, at least another term and I guess what I'm the ask I don't want embarrassing, I just knowing. That you feel about the the position some and the party of taken. Would. You support her to be your leader. It. Would be difficult for me not to vote for if the Democrats, won the house bag fair. Enough I'm, not trying to be extremely, evasive just a tiny bit. Remember. You're a reverend you got to watch yourself. Always. A pleasure thank you for joining, me on my new show, I'm very honored to have you congressman. Cleaver or the beautiful state of Missouri we got a lot more coming up here the. The tax cut thing that is reverberating, again, whatever your politics, the, the dilemma seems to be how. How you how. You treat this but, what have I told you that underneath, the, tax cuts is a big housing, question whether. They are actually in a hurt housing, whether. You're on the left, or the right this. Is the story you're not hearing that maybe you should after. This. If. You're not going to pay for the tax cut if you're just going to borrow the three trillion dollars that it would take to, pay for it then it is perfectly. You. Guys never paid for a little spending you did we had a 10 trillion to our debt that's not that you weren't worried about that then you were where it's. Getting you tax relief now did the debt go out the time. I. Told you perfectly, well we were concerned about how to get the deficit, down once, we got out of recession we. Respectfully. Disagree we, have two different memories of this. All. Right the, fallout from that I've got a lot of people but I don't like the people who send me nasty email and start saying stuff about my way I'd, rather you just flip over to MSNBC call, it a day all right because. Welcome. Back let's get to FB ends David as we got lauren, simonetti we've also got, the former GOP presidential. Candidate, economics, fan golly. He's. A master, in all of our minds as Steve Forbes all right Steve my. Issue with. Also goes for who might respect. Is you. Pick and choose when debt matters now, he might have during the build-up of that debt been able to refer to after the meltdown and, we needed to spend I understand, that but to, say that it is more. Of an issue for tax cuts totally what did I have trillion over ten years then a debt the, ballooned, ten. Trillion over ten years seems disingenuous. Well. If you say you you pick and choose if the economy, is doing well which it is now they.
Can't Hit, on that on Trump on that so you hit on something else you hit on the debt but, what they don't realize is that doesn't mean anything to people people, want to know how am i doing are my job prospects, getting better are things starting to move in the right direction for, the first time in a generation that's. What they're concerned about and if you want to deal with Washington's, finances, you can only do it with a booming, economy that's, the only time we've started to pay down the debt is when the economy is truly booming and learn. The jury's still out of that to his point Austin's, point maybe, it won't boom maybe it will he. Is saying he has serious doubts it well we're already hearing for the IMF, so, they think it will now. They could be wrong too but but. It is fair to say given the, companies that have announced what, they have it. Could have a pay it forward kind, of an impact generate. A lot that's what we're seeing thus far and it's amazing, how hated. It's, been that company, they're paying workers more money and, giving bonuses the argument, is if they could afford to do more maybe they can but they could afford not they haven't even realized the benefits, from the tax cuts yet this is so early, and. There's. A large part of the population that's just against, this goodwill that's, really just getting started more than three million workers, where the three million are getting just a bonus alone that doesn't include additions. To. Pensions. Or, or, the minimum wage increases, so, we're talking about millions and millions of people do, you know that well Austin, referenced. The, recession, that the Obama administration came in to absolutely, it was a deep recession but, it was the first time that an administration, in my lifetime dealing, with recession, dealt with it by raising taxes. And putting. In more regulations. When, you're stuck, with a recession, which a lot of presidents, are stuck with and thankfully, President, Trump wasn't stuck with one but, you lower tax, rates and you lower regulations, to stimulate, the economy as, Steve was saying that's the they, did exactly the opposite, and that's why the, recovery, really never happened, I mean yes we added more money. To the stock market we added more workers, to the job market, but but, it was nothing compared, to what it should have been that's why we never grew over 3% in eight, years of the Obama didn't grow and I think.
They'll. Agree that and Steve I think. It is fair to say that this bull market did, begin under Barack Obama he, should get at least eight of the nine years of credit that's fine that they want to do that I will, say to David's, point though that, and. This is to play off something that all Trump is said about trying to help African Americans what, the hell have you got to lose going, for tax cuts at least waiting to see if, they pan out because everything else has produced. Rather, relatively. Paltry growth what even well, that that's true and in terms of what they call the labor force participation rate, millions, of people dropped out of the workforce during, the Obama years and the recovery never really picked up steam so, yes the market did well but remember more, kits are about big companies and what was shocking in the last generation is how we, really, fell down on creating, new small, businesses, that's how you get the big businesses, of tomorrow that's, a get the innovation, do you think that's what's behind that the stock market, advanced I mean it's been virtually uh near Upton I think they was ninety nine record, yesterday, that's right since most one hundred so I'm. Looking at that and maybe Lauren you could Emily have this do the, people you talk to wear whatever justification. This rally. To picked up steam, on steroids, here over the last year is is. Running too far too fast they worry about it, and it just keeps going up I think there's a there's, a caution out there. There's. Anxiety. I think is too strong overwork but everybody knows this nine-year. Bull, market has to come to an end at some point what. You're. Right and in the last nine years, 2011-2012. And the market took some real hits so you always have these bumps up and down it's been a while but but but it's a good thing that people are worried, it's when people are not worried they get giddy. Giddy. And Dave help you with this better, than thirty three billion bucks.
2018-01-29 05:02
