Well over 90 cents on the dollar. Stuart all right, joining us now on the phone, donald trump. Good morning, mr. Trump and welcome to the program. Good morning. Stuart whats your response to what Warren Buffett had to say. Well, i dont care much about Warren Buffett. You know, i had a Public Company based in Atlantic City. The numbers, and if you look at Atlantic City, Atlantic City was run down the tubes and look at everything thats happened in Atlantic City, theyre all, you know, bad. Ive been out of there for seven years, i had great timing, i got out and i made a lot of money in Atlantic City over the years, you know, i have to look at myself, i have to look at my company and i made a lot of money, it was a relatively small Public Company, the only one ive ever, i believe, and it was just a company waist based out of Atlantic City. I did well in Atlantic City, i took a lot of money out of Atlantic City, which is what im supposed to do, im a business person. Made a lot of money and i did well during the good times there in Atlantic City, but then, times started going very bad in Atlantic City. Ceasars is bankrupt, you look at all the bankruptcies in Atlantic City and look at the homes and numbers. They built the wrong Convention Center in the wrong location i was telling them dont do it, dont do it. They built in the wrong location, they didnt build the airport, supposed to build a wonderful airport, it never haimoud. They made a lot of mistakes there, i got out seven years ago and, you know, my timing was good because Atlantic City had a hard time, very hard time. Stuart is this your counter punch . A lot of your supporters dont want you to take the bait with every provocation, was that a no, theres no counterpunch. Im not listening to what look, Warren Buffett has been a fan of hes a democrat, been a hillary fan for a long time and i think thats fine. Hillary is a disaster. She lied over the weekend to fox. I mean, you saw that, to Chris Wallace and lied over the weekend, im sitting there listening to that interview and i couldnt believe it the way she talked. You just heard the fbi director say she lied and she said no, she didnt, he didnt say that. And it was a total lie. Even the Washington Post gave her four pinochios, which i guess is their ultimate. But she is, you know, shes a liar. Theres no question about that. Lies about everything. In fact how she got away the media the media is still looking at the khan thing from last thursday. Well. Stuart and now youve got Warren Buffett. This is a distraction, your message about bringing prosperity to america is not getting through because of these distractions, when you take the bait with your critics. Well, no, but you asked me a question what do i think. I could say i have no comment. Id rather make a comment on it, but youre asking me the question when you ask me, i gave you a quick answer. Atlantic city has always been a tough investment for a lot of people, if you look at other companies, and you look at, you know, where they are with Atlantic City, Atlantic City has been over the last 10, 12 years its been a tough place to invest. Thats fine. I go the out of there efrn is years ago, all im doing is trying to respond to your question. Hillary clinton has a five year, 275 billion dollar infrastructure plan and will create jobs and she says the biggest Job Creation Program since world war ii, whats your plan . Where has she been the last 30 years in jobs. The biggest job providing program would be to renegotiate nafta and not sign tpp and where theyre going to take all the jobs out of this country, but my plan is renegotiate nafta, make it good or get out of nafta. I want to bring our jobs back and make it hard for our companies to leave our country because theyre fleeing. As you and i are talking, companies are negotiating in ohio, i know one, as an example, but in ohio and pennsylvania, and in michigan, to leave and to go to mexico, which is booming. Mexico is booming. You know, stuart, i say this very quickly to you, but i have a friend to builds plants all he does builds plants one. Biggest in the world and he says you have to see whats going on in mexico, building the biggest and most incredible plants in the world. How are you doing in the United States . Not so much. Stuart now, weve not yet seen your detailed economic plan, but as i understand it talking to steve moore who helped write it, tax cutting for corporations and individuals is at the heart of that prosperity plan. Is that accurate . Sure, sure. And very true. Hillarys going to raise taxes very, very substantially, shes got one of the biggest tax increases ever. And im doing the biggest tax decrease. So, of all of the people running, including republicans and democrats, mine is the biggest. Were bringing rates down to 15 , were bringing them lower for individuals, and of everybody running we have the biggest running, spurring growth, tremendous growth and get rid of the complexity of the tax code. Its ridiculous whats going on now, people making not even a lot of money have to go and spend 500 to see h r block or somebody. Its absolutely insane. So, were simplifying the tax code, reducing were the highest or just about the highest taxed nation in the world. Im bringing taxes way down, im bringing taxes way down. Im going to make it possible for companies to take their 2 1 2 trillion dollars back and bring it into this country, which right now its prohibited, they cant do it. We have a great plan and we are going to rebuild our infrastructure, because without by the way her numbers is a fraction of what were talking about. We need much more money than that to rebuild our infrastructure, our roads. Stuart how much for infrastructure . I would say at least double her numbers and youre really going to need more than that. We have bridges that are falling down. I dont know if youve seen the warning charts, but we have many, many bridges that are in danger of falling and where does the money come from . If youre talking close to a trillion or 800 billion or close to a trillion, if thats the number youre talking about, where do you get that money from . Were going to go out with a fund, make a phenomenal deal with the low Interest Rates and rebuild our infrastructure. Who would put money into the fund. Excuse me . Who would put money into the fund . People, investors, citizens would put money into the fund and we will rebuild our infrastructure with that fund and it will be a great investment and its going to put a lot of people to work. We need jobs because if you look, you know, the real number is not 5 , probably closer to 20 . Because people have given up looking for jobs. We need jobs. We need jobs. You look at the inner cities of our country and i mean, you have black unemployment, youth of 58 unemployment. And nobodys ever seen numbers like this. Stuart what kind of rate of return would you offer. If i wanted to put money into this fund as a private individual, what do you offer me in return. These would be bonds, stuart. These would be bonds and sold as bonds. So wed do infrastructure bonds for the country, from the United States. We do to infrastructure bonds. Well, since we have to fix our infrastructure, but we have to fix it without costover runs and get it done properly. Im building the Old Post Office on pennsylvania avenue, were under budget and ahead of schedule by over a year. Thats the way we have to build. You cant have i just left an area where they have a va hospital that has a 1. 2 billion cost overrun, okay, and its still under construction and dont know whats happening. Theyve totally lost control of it. Its a va hospital, 1. 2 billion in cost overruns. Its ridiculous. The whole thing should have been built by a fraction of what theyre talking about for the cost overrun. Nobody with build better than i can, and nobody knows construction better than i can. I have great relationships with the people that are going to do the work, and they have the wrong contracts. And they may have a system that inspires cost overruns and we cant do that. Stuart if we did cut taxes for individuals and for corporations, and we had a huge Infrastructure Fund, would that give us 4 growth or better . I think well get better than 4 growth. Dont forget, just the 2 1 2 trillion which i actually think is 5 trillion. All of these companies have outside of the United States, and you know about corporate inversion. A lot of companies are leaving in order to get their money, theyre leaving because taxes are too high, but leaving to get the money. They cant bring the money back in. They have money outside of the country and theyre leaving to get their money because they cant bring it in. Just bringing that money in will be tremendous, tremendous. Stuart a lot of people, i know, some people on wall street, theyve got these dire predictions what happens to the stock market if youre elected, a lot of people are saying it goes straight down. Whats your response to that . I think its going to go great. Were going to spare a lot of things. I built tremendous wealth for myself, ive been doing it for myself, but i built a tremendous company with some of the greatest assets in the world, some of my assets, assets in the world, they have very, very low debt. Ive had it both ways, i like debt, leverage aj leverage and debt. Stuart are you invested in the stock market now . I did, but i got out, very good timing, but ive never been a big investors of the stock market. Stuart for the average guy, small investor would you say put your money into 401 k money into stocks . I dont like a lot of the signs im seeing and i dont like whats happening with immigration policies. I dont like the fact that were moving tremendous numbers of people from syria are coming into this country and we dont even know it. Thousands of people, thousands and thousands of people. There are so many things that i just dont like, what im seeing. I dont like what im seeing at all. Look, Interest Rates are artificially low. If Interest Rates every seek a natural level, which obviously would be much higher than they are right now, you have some very scary scenarios out there. The only reason the stock market is where it is is because you get free money. I mean, me, too. Im i have very few loans now, paid off large amounts of debt, but i tell you what, i get offered loans from banks at almost nothing. You feel foolish not taking the money. Stuart okay. Well, donald trump, thank you very much indeed for joining us on Varney Company this morning. Much appreciated. Thank you, youre terrific. Thanks a lot, stuart. Bye. Stuart much more on mr. Trump and what he had to say throughout the rest of the program and also by the way, Donald Trumps daughter ivanka is going to sit down with Greta Van Susteren on the record 7 p. M. Eastern time tonight. All right, well be back in a moment. All right. Tuesday morning, weve got about 15 minutes to go before the market opens and ever so slightly lower at that opening bell. The most important number of the morning is probably the price of oil. Right now, were at 40 a barrel and remember, yesterday, we dropped to 39. The market has been going down along with oil. Oil up this morning, 40. 40, but thats all weve got. The price of gasoline, 2. 12 per gallon and its going down. Better profit as the Parent Company of the Discovery Channel that will be discovery communications. Strong growth across all its u. S. Networks, doing well across the board. Animal planet, oprahs network doing well and the stock will be up significantly this morning. New revelations today on Hillary Clintons emails. According to wikileaks, hillary knew the u. S. Was sending arms from libya to syria in 2011, but she denied it under oath to senator rand paul in 2013 during the benghazi hearings. And Julian Assange says he has dirt on hillary with and hell release it slowly with a big surprise in october. Well ask the judge. And Hillary Clinton getting a bounce from the convention, head to head matchup. She leads trump 5243. That was conducted by phone after and maybe trumps counterpunching giving hillary a bump and maybe the convention, too. And here is what mr. Trump said about the jobs and economy. Im doing the biggest tax increase, so of all the people running including republicans and democrats, mine is the biggest. Were bringing rates down to 15 and lower for individuals and of everybody running, we have the biggest were going to spur growth, tremendous growth and were going to get rid of the complexity of the tax code. Its ridiculous whats going on where people making not even a lot of money have to go and spend 500 to see h r block or somebody. Its absolutely insane. So were simplifying the tax code, were the highest or just about the highest taxed nation in the world. Im bringing taxes way down, im bringing business taxes way down and im going to make it possible for companies to take tear 2 1 2 trillion dollars back into the country and right now its prohibitive. Here here is an economics professor from university of maryland. Youve heard what mr. Trump said about cutting taxes vigorously across the board and i hope you heard about the fund he would establish so that ordinary individuals could invest in it which would then rebuild our infrastructure. What do you think about that fund . Good idea . I think its a great idea. Infrastructure is in terrible shape and needs rebuilding. The National Treasury cant handle it through taxation, so if we can do it through an investment fund, wonderful. Stuart i dont know what rate of return individuals would get if they put their money into that fund. It couldnt be a very high rate of return because Interest Rates are very, very low. Thats true, but wed have to see how he provides a return. Just interest on the debt, out of the treasury and so forth, we have to have more details. Thats always the case with mr. Trump. Stuart but the tax cuts across the board, do you think wed get 4 growth or . There are four legs, tax cuts, entitlement reforms required with them with the house. And infrastructure and Regulatory Reform we do those things and weve committed to those things, we will grow. Hillary will take us in the opposite direction and we wont grow. Stuart stay with us, peter, for the markets when they open at 9 30. The latest out of ellicott city, maryland. The devastating flooding could takes months and cost hundreds of millions of dollars. The town is about 14 miles west of baltimore. It saw more than six inches of rain in two hours. Two people died, hundreds of cars swept away. The city is prone to flooding, but they are vowing to rebuild. Will you just look at that. Politics, Newt Gingrich says the media is in the tank for hillary. More on this in a moment. If youre taking multiple medications, does your mouth often feel dry . A dry mouth can be a side effect of many medications. But it can also lead to tooth decay and bad breath. Thats why theres biotene, available as an oral rinse, toothpaste, spray or gel. Biotene can provide soothing relief and it helps keep your mouth healthy too. Remember, while your medication is doing you good, a dry mouth isnt. Biotene, for people who suffer from a dry mouth. Olympics 2016, let me get you on my level. So you never miss a moment, miss a minute, miss a medal. Why settle when you can have it all . Soccer to wrestling. Track and field to basketball. Fencing to cycling. Diving to balance beam. All you have to sa is, show me, and boom its on the screen from the bottom of the mat, to the couch where you at . Show me the latest medal count xfinitys where its at. Welcome to it all. Comcast nbcuniversal is proud to bring you coverage of the rio olympic games. Anybody watching this campaign knows at least 80 of the media is in the tank for hillary. And the number of things that the media would be excited by if theyre willing to take this seriously is unbelievable. But the only thing the media wants to do is go after donald trump. Stuart aint that true . Thats Newt Gingrich saying that the media is basically on Hillary Clintons side and piling against donald trump. He gives them scope and gives the media ammunition. Ashley thats the problem. I think that the media as a whole is biased towards Democratic Candidates and especially in this race, however, he cant stop taking the bait. Hes got a very thin skin. Stuart this morning he tried hard not to. And rolled the Warren Buffett sound bite and defended his actions in Atlantic City, but didnt attack Warren Buffett personally, he did not do that liz he did not. Its fortunate because the republicans tend to be open to listening to economic ideas and what will move the country out of the foul, rotten move its in. The democrats do not. Theyre a wall of opposition to any new ideas and thats what donald trump is basically saying, this country is frustrated. Weve had eight years of obama and thats why people are listening to socialists like Bernie Sanders. Ashley he has to focus on the economy and terrorists an