Transcripts For FBC Risk And Reward With Deidre Bolton 20170

Transcripts For FBC Risk And Reward With Deidre Bolton 20170929

Charter planes you were talking about when the domestic planes or domestic options were available to him and the question had come up for the president on multiple occasions would he fire secretary price. In the end it was to your point a resignation that was accepted from the secretary to the president this afternoon that came in and was released to us late in the afternoon at the white house. Now you mentioned the name don w right, the acting secretary one of prices deputies that takes over for now and well see what they do in terms of the search for a permanent replacement but after the president accepted that resignation but before we all knew about it before it was public he said this. At the white house, before leaving for new jersey, listen. President trump i was disappointed because i didnt like it, cosmetically or otherwise, i think hes a very fine person, i certainly dont like it. As i said we renegotiate deals, were renegotiating trade deals, were renegotiating as an example the f35 fighter planes. Ive saved hundreds of millions of dollars so i dont like the optics of what you just said. In that context certainly it didnt look good and the president knew that bad optics you heard him use that phrase on multiple occasions and look at the numbers liz just on a domestic basis all of these charter flights added up to a total cost of some 400,000 accord to multiple reports so secretary price made an offer to payback 52,000 which would be enough to pay for his seat but in the end not enough to save his job. Back to you. Liz thank you connell. Obama officials also took price noncommercial flights, more pricey noncommercial flights than Trump Officials did. This so far this year the white house signed off on 77 flights for Administration Officials in President Trumps first eight months in office noncommercial flights comparing to 94 during the first eight months of the Obama Administration. Lets get to former Senior Advisor to george w. Rush karl rove joins me now. Kickly lets go through it. Loretta lynch, eric holder, Robert Mueller and leon panetta all use noncommercial flights as well so what do you think of that angle to that story . Well i think youve got to distinguish between the National Security element and the domestic agencies. Theres a reason why you have the cia director flying in a private plane but i got to tell you i think the president was right. Tom price im a huge fan, but this was excessive and the administration unfortunately has a pattern of this. Theres been criticism, the secretary of treasury, the secretary of the interior, when youre in a high profile position like this youve got to be very careful about this. The process in the Bush Administration has to sign off on these, was very carefully monitored, had to be an explicit reason why, there had to be no sort of available commercial traffic. There had to be an essential reason for the traffic and a huge a heavier preponderance i would suspect of those trips had to do with National Part of the National Security apparatus. Liz okay Loretta Lynch was on a private jet when she met with bill clinton in that famous tarmac meeting right . Yeah. Liz so theres been accusations under both republican and democrat administrations that government officials are using private jets you can understand the need to get to a place fast, right . So thats also the problem too because youre waiting in the airport it takes a long time to get on a flight, right . Yes, it does but again, you know, theres the tension between the necessity. How important is it for you to be in like for example, one instance was the secretary of price apparently flew from washington d. C. To philadelphia. You can fly there, maybe there arent enough planes each day but theres a train that leaves Washington Station almost, you know, once or twice an hour, the ascella or another express that heads north and look this was just excessive and again i say this with deep disappointment because tom price is a good man. He knows the issues at the department of health and Human Services almost better than anybody. Hes really vital to the issue of repealing and replacing obamacare because hes been think about this for a long time hes a true reformer on healthcare the republicans need his voice, brain, intellect and capacity to persuade but this was a mistake and i think he was right to resign and the president was right to receive his resignation. Liz this is the first member of the cabinet to resign and is also investigations now into interior secretary ryan zinc and treasury secretary Steve Mnuchin how far does this go . Well, i think those are probably the only others that the president has been able to find. I mean, they are probably the only others that have done it because thats all the press has been able to find. Betsy devos is flying on a private plane but its her plane and shes not billing the government for it and its a question of proportional it. This was really a significantly more expenditures for secretary price than it was for treasury or for interior but its a cautionary note. People in places of public responsibility like that have a special responsibility to not spend miss spend the taxpayers dollars. Liz switching gears speaking of taxpayers, middle class taxpayers now subjected to a non stop bar age about how tax cuts are get this bad for them despite what president had has been saying. President trump my administration is working every day to lift the burdens on our companies and on our workers so that you can thrive, compete, and grow and at the very center of that plan is a giant, beautiful, massive, the biggest ever in our country tax cut. Liz okay, lets take on the media and democrats and expose the myths theyve been misleading the company with all those greedy fat cat corporations. Well show you how jobs are created, how the democrats are covering up their glaring lack of a growth plan, but the warfare tax that the public and even politicians dont believe but the media falls for time and again. First this myth. Corporations are greedy. Its something that the media has pushed in our minds. Second myth, corporations only spend money on executive salaries and do not reinvest in their own companies and create jobs. Third myth. Companies do not help the middle class. Were going to break it down for you right now. This greedy corporations fat cat s, wall street, the rich dont believe the warfare running ramp aunt on capitol hill and in the media because weve got the facts. The facts show corporations and Small Businesses when they get tax cuts they do create jobs. Even Government Data show that, tax cuts boost investments, create more and better jobs and raise average workers incomes. Why . Look at this. Irs data show that 90 of all business income is reported at the individual income tax rate. You cut the taxes there . Thats more money for them. Twothirds of all businesses report on the individual income tax returns. Those are mom and pop shops. Those are Small Businesses owned by the little guys. The middle class. Theyre not fat cats and by cutting their taxes they can create jobs to boot. As for the big guys the u. S. Corporations face a tough tax rate of 39 versus a 23 average for the rest of the world. The u. S. Corporations they waste an awful lot of time with lawyers and accountants to get those tax cuts down to level the playing field. The real benefits of tax cuts dont go to what the accusations have been the owners and investors. Nope the real benefits largely go to workers. The benefits go to the workers. Study after study shows this to be true. The bulk of higher Corporate Taxes somewhere between 75 and 100 , who foots the bill . Workers in the form of lower wages. Even the Nonpartisan Congressional Budget Office estimates that workers bear as much as 70 of the Corporate Income tax burden. 70 . The Heritage Foundation points out that despite the name Corporate Tax reform, the burden of the Corporate Income tax falls almost entirely on workers in the form of lower wages. Here is the common sense. This is the reality. Higher taxes mean less investment, less investment means older equipment, and less training for workers, ultimately it also means lower incomes for less productive workers. Properly seen Corporate Tax cuts are really worker tax cuts, look at this economist Andrew Hanson of Marquette University and ike brannon found a corporate rate cut between 30 to 57 creates more jobs, rising between 622 and wage increases jump to almost 28 , even a tax happy European Union found that when you raise Corporate Taxes by 10 Percentage Points thats going to cut worker wages by 7 so carl, the facts are there. Why is the media and why are the democrats continuing to mislead . Well, look. If youre a democrat or liberal, you either say its a piece of your faith that corporations are evil. You made a great case there, youre right. That Corporate Tax is paid for by somebody and most of that is paid for as you pointed out by workers in lower wages. Id say theres another problem with the tax code on businesses that is affecting american jobs, that is going to be fixed by this tax reform and thats the fact that were the only major industrialized country that taxes the foreign profits of American Companies twice. Your general electric, you sell an airplane engine in germany and you make a profit and you pay a tax in germany. If you try and bring those profits back to the u. S. You have to pay 35 whatever your effective tax rate is. If youre siemens and you sell a piece of a medical equipment in the u. S. And make a profit you want to take those profits back to germany you can do so with no tax on them back in germany so why are we surprised that america is not as competitive on the International Stage and why are we surprised American Companies that are selling things abroad are not bringing those profits back home to invest in american plants and equipment and wages here . Liz do you know what i was missing was your white board with all your steps right there, but next time well bring it. There was a big fight that broke out between robert reich and steve moore, arguing that do you know what . Its spending. Its Consumer Spending that creates jobs. Lets take a listen. Why are we talking about a corporate and business and wealthy tax cut at a time like this . Because you need businesses for jobs. Its that simple. Without an employer you dont have a job so we want to make no, no, see, you are wrong about one thing thats very very fundamental. It is the middle income and poor people who actually through their spending create jobs. Businesses are not going to invest in new jobs unless there are people who are purchasing. Thats one of the problems weve had over the last 25 years. Why this recovery has been a sluggish as it has because the middle class and the poor dont have the money. Liz okay, this is fantasy land thinking. Hes not an economist by the way , he has a law degree. By the way did apples steve jobs stare at Government Economic charts and wait for Consumer Spending to go up before he invented the iphone . Did oprah wait to see if Consumer Spending went up before she went on her own and got successful . Its nuts. Yeah, look, without investment you cant increase productivity and you cant invent new things. Ten years ago we created this. Apple created this the iphone. The personal device and what happened . Our economy got, it helped Economic Growth and made our lives better and easier and allowed us to explore things from a computer that we held in our hand and the price of those devices has gone down and why . Because businesses invested money in plants and equipment and research and development and made thins that people were able then to buy. Yeah, consumers do create play a big role in our economy but consumers you want consumers to be able to buy things that are Getting Better and less expensive and the only way youd do that is by having investment in jobs and business and equipment and plants and research and development and what this is going to do is kickoff a big boom in that. Liz wow carl theres a cultural sea change that needs to happen and different thinking that needs to happen. Absolutely. Liz the media is misleading American People and so are the democrats thank you karl rove good to see you. Coming up a video gone viral an arizona cop expressing his outrage over the Nfl National Anthem protest. Listen, you play a game. You suit up, you lose, you go home, and in the real world . Real heros, when they lose games , they dont come back. Liz weve got that cop. His name is brandon tatum, coming on and show more of the video and talk to us about it and also uc berkeley now shutting down a proisrael speech by harvard law professor. And professor is threatening to sue, he too is going to be here with us to talk about that, but first the media is slamming the trump plans to cut the death tax saying that tax cut is a give away for the rich. Its a moral thing to do thats their argument but my next guest is a farmer. She says the death tax hurts her business. Liberty farms owner martha bonit a is here next. What did we do before phones . They save us from getting lost, getting hungry, and getting nervous in places like this. Now phones can save us money too. Introducing Xfinity Mobile. With unlimited data for just 45. Thats the lowest price out there for one line. And you can get the same price on up to five. See how much you can save when you get unlimited on a new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. There are massive gifts to donald trump and his family in the massive tax cuts that trump and the republicans are proposing. They would eliminate the inheritance tax so that ivanka trump and her brothers would not have to suffer one penny of taxation when their fathers estate passes to them. Eliminating the estate tax and alternative minimum tax both of those help rich people. Eliminating the estate tax, now thats a huge give away that will exacerbate income and equality. Liz the media slamming the trump plan to cut the estate tax saying its a give away for the rich but trump Economic Advisor gary cohen saying no it benefits Small Businesses and family farms, the little guys and mom and pop shops the most. So you all talk about the debt tax and that being a great benefit, but the two biggest drivers for repeal of the debt tax are the nfib and the farm bureau. Thats Small Businesses and farms. Those are the two organizations that spend the most time lobbying on the repeal of the debt tax. Debt tax has the biggest effect on them. Small businesses and farms. Wealthy americans do a lot of estate planning. They can use trust. They can use all types of things that are legal within the tax code to make sure they dont pay debt tax. Liz lets talk to a farmer about this joining me now Liberty Farms owner martha boneta, good to see you martha. What are your thoughts on the media and the democrats argument that it is moral to hit you and other Small Businesses with the estate tax . Its moral to do so. You know, small family farmer s are the backbone of america, the heart beat of america. I mean, American Family farmers we feed america, we provide the food on the shelves. These are small family businesses, small mom and dad shops and you know, this tax is not only immoralities offensive because it forces the the aging out population it forces the next generation that wants to farm to inherit the family farm that wants to keep the legacy of the family farm continuing and it forces them in many cases to sell off their farm in order to satisfy this inheritance tax, this debt tax that has been strangulating the American Family farmer for generations and we couldnt be more happy for the repeal of this tax. Liz astonishing. Go ahead, finish. What it means is its going to give the next generation of family farmers hope because theyre overregulated as it is. The family farmer is over regulated to death and that comingled with this death tax the next generation that wants to farm says im going to be stopped and dead in my tracks before i even get a chance to really work the family farm and to make the American Dream come true. Liz you know its amazing your family builds a business for generations and then the tax comes in and youve got to, you have to sell the farm to pay the tax. Thats the question. Is it moral for the government to tax people twice . Is it moral to tax them twice once they earn the money and again when they have to give it away . I mean is it moral for the government to create a tax that benefits tax lawyers and companies to structure tax haven s to avoid the tax . Does that make the world a better place . Well you know, youre absolutely correct and i can tell you firsthand that listen, this is america. You should be able to work really hard and take the fruit of your labor and leave it behind for the next generation without having to go to your resting place and w

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