Closing at another all-time high. now a political group backed by the billionaire coke brothers said tack players will foot the bill. are they right? gary b. smith and heather are here. gary b.? they definitely koch is right in this cake. newark was offering in the billions, four or five billion works out. 50,000 jobs. 145,000 a job that they re paying amazon. it s footing the bill, state of new jersey, the city of newark. a city that will probably never see that much money returned to it. i think it s horrible idea for the city to do that. trish: it s corporate welfare, right?
Build exactly like amazon, they re not helping anything. i m talking about the amount of money they re going after amazon with. it s like oh, we can spend a million to get amazon, i d say go ahead. and it s a million dollars that you re not giving to another business, gary. my point is they will return more than a million dollars economically. is it worth it in terms of incentives. but i d say there s nothing wrong states being as competitive as possible. let s make it fire. time word over to heather. is it fair? i guess what is worse is that it s not disclosed. a lot of the states have kept it secret. so for the people to decide you and i and gary and hitha, we can t decide if it works out and if it s fair if the states don t disclose what incentives they are giving big corporations like amazon. trish: by the way, i don t think i have ever seen gary b. in person. it s rare. me neither.
Were had the washington state of the union address and it will raise our carrying cost for all this debt, 20 trillion in debt but it could cost hundreds of millions of dollars, we ve got gary b. smooth, deirdre bolton, adam adam lashinsky, it is a valid point he s raising it doesn t take much to make that debt pricey. it does not at all and i think this is the danger also of president trump tying his economic or administration success to the stock market, but as you say, it is going to make the debt more pricey and i think we re now the top five if you put us on a list of all of the industrial economies we re on the top five of better nations. neil: but we ve had some rip roaring markets. gary b., one of the thins he was warning about that we have to be aware that interest rates were are ridiculously low and unrealistically so, so even if we get back to equilibrium that
Horizon unless there s a geo-political event in north korea or pakistan, there s not a geo-political event anything on the horizon or event horizon that looks to derail this economy. the only thing that worries me is china exported deflation for so many years and starting now to export inflation and i think six to 18 months we could see that we re seeing all prices up 50% in a year copper is up 31% starting to see some commodity inflation but that looks to be six to 18 months off and looks like according to the last interview it looks like smooth selling for the next one to three years for the foreseeable future. neil: you know, gary b., you look at the markets and they look kind of bullet proof right now. there s always an outside of that that undo these things whether in 87 if they are given over portfolio insurance or whether you could protect your investment through a short course that was a foolish notion then and it s deemed that now but is there anything on the horizon that you
Fact that yeah, maybe these families are getting these bonuses now or seeing wage increases now, but there s no guarantee that s going to be the case in the long term. neil: so you re still a missouri here, show me. yes! neil: we are showing a lot of the companies that are sharing the loop. is it your sense, gary b., that they will continue to do so, that list will grow? i do. i think primarily good or bad from a public relations standpoint it s certainly the right thing to do but m importantly as companies see greater wealth in return to the tax cuts they re going to grow and expand so the real winners are going to be these companies that grow and have to start to compete for workers, so it s not just this money they re giving back. it s the fact that i eventually see their wealth creating a demand for more workers and then wages and salaries goes up. that s the real benefit, neil.
Effect on the economy or the market. it s bad for the country. certainly bad for the people that aren t getting checks. they ll get them but puts them in a hole during that time period. unless this is a two to three-month shut down, i don t see any effect it has on the market or the economy. neil: thanks, gentlemen. gary b., you re right to remember those days, the great old days where double digit returns in a safe investment were the norm. obviously stocks were not very appealing. thanks, guys. we re not saying that happens now but you have to wonder if a shutdown will happen later tonight. the latest talk we re hearing is that they re going to try to cobble together a deal that can keep us going for another few days. they have settled the differences over the daca thing and all this other stuff. here s something about the daca thing, a few days isn t going to make this something that will have unified spirit. never theless, hope springs etern eternal. the hope is that they can do
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The economy and people s pocket books. dagen: lee the reason the republicans didn t do it is because they need to get to that 60 votes and that means getting democrats on board. [laughter] yeah i don t know how that s going to happen but i m all for the tax cuts being permanent except i believe that we have to make sacrifices in order to make it happen. we can t just not make the cut backs. i know we re talking about gary b. is talking about putting the pressure on. we need to put pressure on and hard to see those be made and i think it will benefit the economy but not happen unless we make sacrifices. dagen: jonas, everybody talks about the top tax rate is extremely low for individuals at 37% it was 35% under president bush s tax cuts and it was 28% under ronald reagan, why couldn t we potentially make these individual cuts permanent? okay, i hate to be the only person whose against individual tax cuts, but look, the deficits are not going away any time soon
Top set of earners. if it s really about the middle and lower classes that s important even just on a messag ing basis and i think we should be able to get 60 votes when you consider that we have 10 senators democrat senators that are up for reelection in 2018 and red states so it s an important conversation to have and to play with that corporate rate a little bit to maybe make the individuals matter more. dagen: gary b., did jessica just get on board with making the individual tax cuts permanent is that what we just heard? it s funny dagen i was ready to go, jessica drives me crazy. but in this case, take out jessica and substitute in of course the perennial jonas. thank you, jessica for final ly seeing light. i think we finally moved you over to the dark side. to jonas s point, he comes at the perspective that the government is some wizard of oz back there empowered with pulling the levers of the
How about we erent politicians to do the right thing for the right reason? i new it s an archaic idea but perhaps it would work for a change. dagen: gary b., yes or no on earmarks? well, yes i guess and here is why. dagen: good. we are the united states of america. we re not called the kingdom of america, where a king can rule, we have all of the states fighting with each other. you give me this i give you that that s the way it works, yes it s horrible but that s the way bills are passed because the states look out for themselves as it should be. dagen: jonas, my personal favorite earmark shame manure management what do you say? somethings right in the empire in the 80s in new york city you couldn t get a concrete truck to show up without greasing somebody s palms that s how it works and now small states like alaska are deciding big policy decisions like repeal ing obamacare because they re not getting the bridges