tv Forbes on Fox FOX Business August 30, 2015 3:00am-3:31am EDT
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one advantage to this primarily focused on the u.s. not internationally. >> and, ben, finally. donald axle rod next. >> some democrats are using donald trump to sell their tax hike plan when they get back from summer break. here's what donald said that got them excited. >> the hedge fund people make a lot of money and pay very little tax. i know people in hedge funds. they pay almost nothing. it's ridiculous. they say it's crazy to talk about upping taxes on investors even if they are wealthy. who is right? i'm david. welcome to forbes on fox. let's go in focus to find out with steve forbes, elizabethed, carrie sheffield, john tammany, and bruce jabson.
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john, what do you think about this? the democrats using a plan by donald trump. >> it's a bad idea, and it's no surprise that domed trump would promote it. >> they debt capital for those that do things. we have apple, amazon, dell computer. it would be a brutally impoverished world without wall street. the idea that we penalize those that make a lot of money allocating capital is really hideous. >> bruce, particularly at this time when the markets are really kind of teetering, you really want to tax investors more right now as a stock market -- number two is it is a fairness issue because this is essentially -- it's complicated, but essentially they're taxing
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carried interests as a gain and they should be taxing these guys as income. it's a fairness issue. >> well, democrats want to double. democrats, by the way, do have a couple of plans, steve forbes, that they're going to implement when they get back from they are summer break. one of which would double the tax that these kind of investors pay. >> by the way, on the other side of the republican thinking on this, marco rubio wants to end all taxation on investment. he thinks that -- he says that anything you tax you are going to get less of. we want more investment. why would we tax it? >> you know, just ask
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billionaire minimizer -- tax minimizer warren buffett what he thinks about this whole issue. i think this is misplaced, and it's what congress is doing with our money. we have europe in this country. >> you bring up a great point. who would you rather have that money? investors or the government? meanwhile, some of these guys that donald trump was focussing on, and that democrats want to focus on, carrie, one of these guys, anthony has the following to say about what donald said. play the tape. >> i don't like elizabeth warren, barack obama rhetoric about the hedge fund industry. i'm paying my taxes. 52% marginal rate. i give a lot of money to charity and do a lot of work. i don't need people telling me i'm just pushing paper. >> carrie, what do you think about what he said? >> i think he is absolutely right in this case. i mean, the question is do we want to be more like europe or
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america. our middle lass here, the median family makes $42,000 compared to europe, the european union. only 21,000. do we actually want to make the american middle class poor? no, no. this is no secret why donald trump has given six-figure checks to the clinton foundation. he is not a true conservative. >> well, mike, the fact is that trump has been saying something very similar to what bruce said which is these hedge funders aren't paying tacks. we should remember, though, that 1%, the top 1% of whom are made up of people like this pay 38% of all the income tax, the federal income tax that comes in. to your point, you're right. the numbers get more own russ when you look at the stop 20% of the earners. they may 80% of all income
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taxes. >> to marco rubio's point, we need more investment. we don't want to tax it meaning we get less of it, right? >> very simple. bruce brought up fairness. what is fair about there being less investment. there are no companies and no jobs without investment first. we reduce the amount of companies that are krafing those jobs. why is it that just because someone is rich, just because someone is skillful at allocating capital that they owe more money in the government than others? >> is there something wrong with being research, bruce? >> no, not at all. i mean, everybody wants to make money and for their family and provide for their family. i think what trump -- >> hold on a second. hold on. we're talking about more than providing for their family. is there anything wrong with being filthy rich? does everybody want to be rich? poor people buy these
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scratch-off lottery tickets hoping they'll get rich. >> should people be penalized for being rich. that's what you are saying? >> i think this is a conversation starter, and i think that wleer doing is it's better than what the republicans are doing by talking about these crazy social issues in immigration. i think trump is getting people going and talking about eventually reforming the tax code because he also in some of the same stories he talked about steve forbes' idea of a flat tax. i think it's a conversation starter. >> see, this is a problem i have with trump. on the one hand, he makes a great point that everybody wants to be rich. ed, the poor want to be rich. the middle class want to be rich, and there's nothing wrong with it. this is a country where you can become rich. at the same time he gets in this fairness stuff that bruce was talking about where it seems that you should be penalized because you're rich. is something wrong with it somehow? >> in the next 30 days the
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campaign and the candidate are coming up with a tax plan. we'll see what actually they put on the table instead of these you get on the campaign trail. >> it's also about the tax code. the tax code really is cod ified envy, and the reason taxes are the answer and we would already number the promise land. if harry reid and nancy pelosi know what to do better with our money than we know what to do wur money. they've blown $19 trillion the federal deficit. come on. >> that's why i wish the trump message would stay focused on that and that alone. the fact who would you rather have this money? these hot shot investors, many of whom are filth where i rich,
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but god bless them for being filthy rich, or the government. >> i don't think trump is saying that at all. that's not what i got out of he said in that speech. what he is saying is capital gains should be treated as capital gains and ordinary income tax, ordinary income, and what they are doing to these hedge funds, they're taxing ordinary income at the lower capital gains rate. >> hold on. you don't want to get too much of the details. when you invest money, you are always risking money, right? there's -- you can always lose it. >> that's right. not the same as a salary. you don't know whether you are going to get a return, which, by the way, all goes to we need a flat tax. get rid of all this junk. >> steve, final word. nothing wrong with being rich, is there? >> no. not filthy. they take showers each day. >> last word from steve. coming up next, hillary clinton's new plan to get america's economy back up. double down on green energy. haven't we tried that already?
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well, so much for -- >> i think we should have half a billion more solar panels by the end of my first term. >> half a billion? hillary clinton doubling down on president obama's green energy agenda. she wants to push more renewable power if she becomes president, but steve, you say we already know how these investments turn out. >> well, that's right, david. this plan deserves to go the way of her emails. it's simply what you might say a crude attempt, no pun intended, to buy votes in the iowa caucuses. iowa has already given us the ethanol disaster. we don't need any more. we have a clean energy. it's called natural gas. let us produce more of that. >> but it's carbon, and they don't like carbon. >> we have spent $150 billion
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9.8%. was it worth the $150 billion that taxpayers had to pony up? in iowa they've seen successful venture with wind turbines. >> you're from iowa, right? >> i am from iowa. burlington, iowa. proud card-carrying member. i think there is pandering here, but in the des moines area there's an emerging biotech sector, and i think that, you know, diversifying our sources of energy is not a bad idea. >> we haven't talked about all the projects that went bust that went bankrupt like cylindra. tloo we're now finding out that it misled and lied on their applications for federal loans.
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that was a big deal. they could be sewing machines. under hillary clinton, her statement said the keystone pipeline would not worsen climate change. why not go that route too? >> the last time the government was on the cutting edge of anything, i think was the apollo program where we sent a man to the moon. we did it successfully. many people said it was a government project. >> i'll give you the answer. it's zero. she knows nothing about it. >> i thought that was a rhetorical question. >> why would we trust the energy industry and a woman who can't keep track of emails, has never worked in the private sector, and is clueless about where energy comes from, how it's used, and what smart investors have decided will be the future
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of energy. >> carly fiorina has been in the tech sector and knows much better than she does and is not in favor of this plan. >> well, her plan essentially is to tax the middle class and hand the proceeds to green billionaires like elan musk and al gore. i don't think those fat cats need more of my money, and i spaernl don't think that the clinton foundation needs any more kickbacks. >> that's a great point that bill brings up, john, which is the krony capitalism. we talked about it and criticized here so often. it's so encouraging when you have these big projects, these big major ideas that these politicians get. >> absolutely. you know, hillary promotes this idea that she's a future politician. yet, she wants an energy source that is in the 12th century. if solar energy -- it wouldn't need federal funding in the first place. it would need no encouragement from politicians. the fact that it's encouraging means the markets don't want it.
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>> steve, the government has lied or at least told untruths. wron if they were conscience, but i hold in my hand a newspaper from 2012. wall street journal piece, a news piece where they really investigated some of these government wind projects. this was one for 4.3 billion that the white house claimed employed 7,200 people. 7,200 was the claim. 300 was the actual. >> it doesn't matter what you do. all you have is the political connections and then you get rich. the taxpayers get poor, and the country is impoverished. case closed. >> you're against krony capitalism. you don't like it. you share that dislike with the rest of us. doesn't this kind of project lead to more of it? >> i think what we need to know is how is she going to pay for it? in iowa we know the farmers get big subsidies. if you can find a way to pay for it and maybe reduce farm subsidy on landowners that are gaining,
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you know, huge returns on that, i think it needs to be paid for. >> we know how it's paid for. $150 billion from us to taxpayers. >> they did a deep dive into president obama's green renewable programs and found politics at every level. it was memos and internal emails. it is krony capitalism on steroids. >> mike, hillary never mixes politics with personal business, does she? correct me if i'm wrong. maybe i missed something. i don't know. >> that's one of the best lines i've had in a long time. that's great. you know, it depends on how we're going to pay for it. even if we have a windfall, we shouldn't spend a dime on it because of what john tammany said. if the markets want it, there's plenty of money out there to invest in it. let them decide. why does she think that as an
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individual she knows better than thousands and thousands of free market experts as to where our future lies. >> that's why. the one time she was, she was defending -- that's a whole other story. gang, thank you very much. the cashin in gang getting ready to roll at the bottom of the hour. eric, what do you have? >> how safe are you at your job in this week's shooting raises questions about what companies can do to better protect employees in the workplace. plus, the father of a hero who stopped a terror attack says we need to stop being too pc and call terrorists what they are. if he can say it, why can't the white house? see you at 11:30. >> powerful stuff. eric, thank you very much. we'll be watching. up here first drones armed with tasers. well, maybe. one state now allowing police to arm drones with "nonlethal weapons." could all that
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>> remember this gun firing drone that was posted on youtube. crazy right. the faa is investigating that. a law in north dakota says police can patrol drones. >> i don't want the police flying drones over my house. wropt any drones near my house. i don't want to turn the police force into top gun commanders. they have enough resources to use to get the bad guys already.
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>> carrie, it is a little sari. it's like a science fiction movie, no? >> mike, what about is your son and daughter whose life could have been saved by a drone? i'm not saying we should use it in every instant. get a warrant. make sure we use it in moderation. it's a tool. the internet is a tool. it's what you do with it that counts, that makes it good or bad. >> a good tool? >> i don't like the idea of the state using drones, and i also don't like the idea of them regulating use of them. i feel if north dakota wants to try it, let states be laboratories of wrdz and let's try it and see if it works. >> bill, a lot of people are bothered by this. it's kind of scary. >> well, it is scary, but the police already use a lot of dangerous tools. they use bullets. they use choke holds. they use high speed car chases. i'm hoping that with a few drones, there will be fewer high speed car chases. you could follow that white bronco down the highway, and the driver -- fewer innocent
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bistabbedb bystanders. >> this is crazy. a crazy idea. i agree with mike. i think they have enough ways to fight crime and some of them aren't even doing that very well. if barney fife only needed one bullet in rural america, that's all they knead. >> you are testing our tv memory here. >> what about that situation where you have a riotous crowd. not protests, but a riot. you second a drone over maybe for pepper spray, whatever to disburse the crowds.
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>> i have a great former police officer that's now a detective, and the key successful police work is walking around, getting in touch with people, doing your homework, and having a great sources and resources. that's how we need to support the police. not with starship. >> yeah, they do a good swrob. we have to leave it at that. thank you very much. coming up, the stocks that are ready t
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after this week you got to watch monday. now stocks are set for a big rebound. imac -- >> it got beaten up. it's a company that's working on antibiotics for super bugs and great cancer drugs. >> they're doing good things, and they're cheap. what what do you think? >> they're doing good things, but patent expirations make
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future murky. >> it just got out of a stupid business making solar panels for hillary clinton. >> you like it? to don't like bye it. i don't like it. >> that's it for "forbes on fox." thanks for watching. keep it here number one business block that continues with "cashin in." a fascinated on the job workplace violence. the big focus this weekend. following the murder of two journalists. the victims never stood a chance thanks to a crazy ex-co-worker. are you safe where you work? what can be done to make sure you are? hi, i'm eric. welcome to "cashin in." our crew this week. also joining us juan williams and jessica harlow. welcome, everybody. the violence at work gone way beyond this week's assassination. take a look at this sobering stat. bet you didn't know this. more than 15,000 workplace homicides were reported between 1992 and 2013. do we need to do more to p
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