Acrosstheboard whether you say its the corporations or the people that work for these corporations, theyve benefited in almost every metric and you went through some of them right at the top of the show. For the individual, the individual has not yet seen money back in their pocket but weve seen every time weve put money back in their pockets not by some tax credit but by cutting marginal rates like reagan did, like kennedy did and so many president s down the line have done. It is a benefit both to the individual and because its a benefit to the individual, its a benefit to society too. The United States, we should make it permanent and what it does is the added benefit is it puts the government on a diet. They will come and say we need the money five years 10 years out well need the money. No, you need to start spending less, so its really, i think the economy the individual, everyone gets a double benefit from this and it needs to be permanent right now. Dagen john 2 Million People have gotten bonuses from companies because of this tax reform. Just imagine what would happen to the economy if you also made those individual tax cuts permanent. Should we could we . Yes, absolutely we should and we could and Corporate America also look earnings revisions have not been adjusted for tax policy yet, so most people think earnings provisions will go up especially in the case of banks around 20 , thats not factored into the market yet so youll see a leg up in the market but on individual rates gary b. Is right look at historical precedence, he forgot to mention coolidge in 24 and bush in 2001 in addition to kennedy and reagan. Gdp went up every time and treasury revenue went up every single time. The deficit is a complete different question were at 19 of gdp for tax revenue. The economy cant take any more. The fact these congress cannot stay within the budget is a complete separate issue. You give money back to americans , gdp is 70 controlled by consumers, youll see it in the economy and peoples pocket books. Dagen lee the reason the republicans didnt do it is because they need to get to that 60 votes and that means getting democrats on board. [laughter] yeah i dont know how thats going to happen but im all for the tax cuts being permanent except i believe that we have to make sacrifices in order to make it happen. We cant just not make the cut backs. I know were 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 bushs tax cuts and it was 28 under ronald reagan, why couldnt 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 its not like 2001 or 2000 where we had surpluses that you could play around with individual tax breaks. The bottom line is youll cut taxes every type of tax cut doesnt lead to the next level of Economic Growth and you need to be offsetting Economic Growth because of the deficit thats growing right . When you cut Corporate Tax cuts, it leads to savings and Investment Decisions that can grow the economy. When you double the child care tax credit they get to spend more money everyone likes to have their money back but it doesnt lead to an Investment Decision that grows the economy. When you go to the Tax Foundation website they explain how this works but you get very little growth from the low level income tax cuts or tax credit and all this that goes on to get votes and the high end tax cuts that the are for businesses actually lead to Economic Growth unfortunately people or voters vote and they want the little tax breaks and everything so the bottom line is you need to go from maximum Economic Growth, this package sort of does that, the best it can were still going to have to cut spending to get budgets under control but you cant just give individuals more tax cuts. It doesnt pay for itself at the same rate a Corporate Tax cut does. Dagen but ideologically its what gary b. Talks about week in week out its we make better decisions with individuals with our money than politicians do and even Bernie Sanders floated the idea of making the middle class tax cuts permanent and then when ted cruz said okay, lets do this he was like well thats not right it was taken out of context thats my reaction. When he said anything i dont think hes ever agreed with me that i know of but i actually think we should be having this conversation and also talking about the cuts of the Corporate Tax rates leveling this out what jonas was proposing here. This is more than about Economic Growth. The republicans fulfilling promises to the American People. Donald trump campaigned on that and said ill put more money back in your pocket. So i think that it is important. I think that democrats should get on board with this if its not just a massive act for the top set of earners. If its really about the middle and lower classes thats 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 its 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 . Its 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 jonass point, he comes at the perspective that the government is some wizard of oz back there empowered with pulling the levers of the economy, making sure we push here, pull here, to drive Economic Growth. That is not the governments job the governments job is to do a few things, defense, build a few federal highways, provide a safety net for people. That kind of stuff. Its not their job to run gdp. Their job is to say what is the minimum amount of money we need to run the government . Everything else that you bring in mr. And mrs. Taxpayer is yours. Thats the job its not the job thats like oh, if we do this well have higher gdp growth. That is bs, and i wish jonas would get behind it other than that i love him. Im not comparing the government with your money against the individual. Im comparing the Corporate Finance department at walmart to the individual and that is a battle theyre going to lose every time. The individual will go to applebees or speculate on cryptocurrency, walmart is going to decide whether we should increase the dividend or pay off debtor do bonuses for employees, raise our wages, look at the decisions they made. People dont behave that way and because of that you get higher Economic Growth and something the government is saying so its the Tax Foundation and you need to get behind that. I understand but it shouldnt be the government oh, if we cut it here well get higher Economic Growth. Cut it for everyone. Dagen yeah thats great if youre running a surplus and trying to get votes but if you have a limited amount of tax cuts. But at the beginning the government needs to tighten its belt. Lee was saying basically the same thing. We need to come at it from both perspectives. Dagen john, you will in the world of limited tax cuts you have to choose where they get the most bang for your buck and in that world its walmart not the household. Dagen john you were once a professional fighter you break this up and thats the final word. Jonas, if you repeat yourself , it makes you repetitive it doesnt make you correct. Listen the budget argument is just wrong. We went from 5 trillion in debt to 20 trillion in 16 years and that was in a high tax environment and low tax environment high Corporate Tax rate low Corporate Tax rate. These guys cant balance the budget. This argument over tax cuts dealing with deficits is absolutely ridiculous. We have a complete separate issue give money back to americans let them do with it its their money. Dagen thanks guys and gals cavuto on business 20 minutes from now Charles Payne is in for neil. Charles . Charles hi dagen. We know which immigration meeting is making headlines today, but is something specific about this one that captured our attention plus a new rule for some medicaid recipients who are able to work for government assistance . Some say its heartless but someone here says its the best thing for them and taxpayers in the long run. See you soon. Dagen thanks charles we cant wait but coming up next, right here, its no secret that cities nationwide are fighting for amazons Second Headquarters, but what theyre offering the tech giant is a secret. Shouldnt be if its taxpayer money. They came out of nowhere, sir how many of em . We dont know. Dozens. All right lets teach these freaks some manners good luck out there, captain thanks but i dont need luck, i have skills. I dont have my keys. on intercom all hands. We are looking for the captains keys again. They are on a silver carabiner. Oh, this is bad. As long as people misplace their keys, you can count on geico saving folks money. Fifteen minutes could save you fifteen percent or more on car insurance. Dagen officials across the country shouting from the roof top for amazon to pick their city for its Second Headquarters , but when it comes to what perks theyve promised the tech giant, thats right, silence. Crickets. Many states and cities refusing to disclose what they put on the Table Including tax breaks over fears it could put them at a competitive disadvantage. For whatever city is chosen amazon is expected to spend more than 5 billion in construction and bring in as many as 50,000 jobs. Should these cities and regions reveal anything thats paid with tax dollars. I think they absolutely should because i think this goes at a lot of things. Number one its the individuals money the taxpayers money and they should know whats happening with their money. I also think this says something about the leadership of those states and communities what are they offering to try to improve these places that really need the jobs, theres a lot of cities out there that could benefit from having a big employer but are going by the way side otherwise so its important it becomes something people know what its all about and whats on the table. Dagen john do the taxpayers deserve to know whats been put out there . No, they dont and i respectfully disagree with lee and dont deserve to know whats been put out there. They deserve to know after its happened. This is a competitive bid now you have 230 different entities around the country bidding for this amazon Second Headquarters somebody is going to get this and this is how this should work cities and states should bid for this and want the most and is able to give the most should be able to get this and 50,000 jobs thats a huge economic boost but is a competitive bid im for transparency of government but not in this case because what youll do is youll let everybody else know what youre bid bidding and somebody will outbid you by a dollar. Dagen gary b. , by revealing it you could jeopardize actually getting this Second Headquarters thats absolutely true but let me just one little side bar here. I hate this whole bidding thing. You know, if amazon was really ben ever elent they should just say do you know what forget all of the tax breaks well go with youngstown, ohio and rejuvenate that economy. Of course they wont but thats what id like in a Perfect World to a point that lee and john made they both made excellent points i come down on the side of lee. Its just the same as the federal government whose money is it . Youre asking probably to raise taxes to issue Municipal Bonds to do all this stuff, use Eminent Domain to take over a private property, all for the sake of amazon. I think thats great. Seattle is certainly benefited from it but in the end its the peoples money i understand you may be showing your cards, well tough. Dagen should these cities and regions fess what theyre offer ing for jeff bezos and his hundred billion dollar pocket book . I think so but i do want to make it clear i actually agree with what everybody has been saying which doesnt usually happen and we all remember that gary actually agreed with me which is a first ever in the last segment. I do think there should be transparency about this and there is a way to do that and more broad strokes, if the community is concerned about what is being given away and this isnt just money were talking about Eminent Domain for instance as gary mentioned there and its important to have those conversations but i think that when the occupants of wherever this headquarters may go here are those 50,000 jobs right and the 5 billion investment. Theyre pretty cool is whatever it is being offered so beyond that it is their money youre spending and be honest but i dont know if its every single detail. Dagen jonas, to you finally, but again its kind of obvious whose going to be the most desperate. Do we even need to know the numbers i think new jersey is offering about 7 billion in breaks of course. Could you imagine being the guy or gal that works for for amazon that gets to go around to states to say what do you got for me im coming into town looking to move a factory and john is right you cant make this public. Its bad enough that that person is like atlanta is giving us free electricity what do you got like you cant do that. If you want an example of a company being too big what the negatives are this is basically it other than that theres a lot of positives but this is market powers like when are they going to give them the keys to the white house. Down the road the rates are growing. Dagen thats a conversation for another day again jeff bezos looks like hes in fighting shape worth of north of 100 billion you never know thanks guys and gals cashing in over an hour from now trish regan what do you have coming up trish hi dagen detainees at Guantanamo Bay amid new calls to should the prison down for good why someone here says that could actually be a very costly move. Plus, consumers outraged because of a massive new soda tax. Whats the government telling us what we can and cannot drink ill see you on cashing in 11 3. Dagen thank you trish well be watching but up here first want to bring both parties together . President trump floating an idea that democrats and republicans might sink their teeth into, but someone here says it will end up costing you, next. Jardiance is the only type 2 diabetes pill proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease. And lower your a1c. Wow. 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Dagen thats right next saturday neil is kicking off his new show cavuto live next week every week and well be joining him thanks to you our cost of freedom fans our most loyal viewers weve been the best two hours in business anywhere year in year out and now neil is taking it live we wish him major success and well be right there by his side hope to see you there. Were right here first. A battle over pork spending starting to sizzle on capitol hill, lawmakers scheduling hearings for next week on whether or not they should bring back earmarks. John with our National Debt topping 20 trillion can we really afford to bring back pork barrel projects . No this is what we have no control of anything in washington d. C. This is theft. Plain and simple imagine that people saying that you only get things done by bribing people. How about we erent politicians to do the right thing for the right reason . I new its an archaic idea but perhaps it would work for a chan