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tv   Forbes on Fox  FOX Business  December 4, 2016 7:00am-7:31am EST

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200-day average. and it is benefiting from the accelerating move to online and mobile shopping. >> you still see that wind at everyone's back here? >> on the online world, yes. >> guys, thank you very much. we conti with trish regan, the place for business, fox. after the big thank you tour comes the big presser. president-elect donald trump gearing up to hold a big media event with his children, announcing that he will separate himself from his businesses. but somehow here on this panel says easier said than done. is that person right or wrong? i'm trish regan in for david asman welcome to "forbes on fox." let's find out with mike, sabrina shaver, bill baldwin, and bruce jaszman. i'll start with you, mike. do you think he can do this here? he's got to celebrate this big, massive company that he has successfully built from everything he's going to do in the white house. >> of course, trish.
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look, the naysayers have been wrong about donald trump from the beginning. they said when he announced, he was going to run, he wouldn't win the primary, didn't stand a chance, then when he got to the general election, they said he had no chance, he won that. they're wrong about this, as well. they keep underestimating how smart and how tenacious donald trump is and they're wrong again here. >> bruce, can you separate donald trump the businessman from donald trump the president of the united states? >> well, first of all, it to know how smart he is. i want to see that tax return and know where all of his stuff is around the world, because then we can make a call on that. but i don't think you're ever going to be able to, as much as i want to, to escape the trump brand. i mean, his kids would carry it on. so if he does the best, you're still going to have the appearance of conflicts. >> okay, elaborate on it a little bit. you think there's the appearance of conflicts, because if his children are in charge -- wouldn't you run into that no matter who was in charge, then? >> you could be.
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when they were talking about hillary divesting herself from the foundation and they said it wasn't good enough, even if chelsea stayed on the board, people were worried about conflicts and so forth. so we have to see where everything is. we have to see who's going to run it. and we just need more transparency before we can -- >> okay, you know, look, sabrina, there are those out there that are calling for him to just put this in a blind trust. it's kind of hard to just dissolve a multi-billion dollar business that you've spent your entire life building. and do we really want to expect that from our president? that would basicallysay, no business owner, no entreprenr should ever run for president of the united states, unless you're willing to lose your business. >> exactly, trish, that is exactly the point. i think there are a lot of americans who are genuinely enthusiastic about having a president who is not a career politician. this is something really new for the country. but it presents a very big problem. because. people haven't realized just how large government is. there's nothing from government
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policies to health care policy to tax policy to environmental policy that will not affect that business. they'll probably try to do everything legally correctly, but i hope this reminds american why we need to rein in american government. if we want leaders who are not career politicians, we'll have to rein in government. >> bill, where do you come in on it? >> i think the biggest scandal of all is one that the good government nannies haven't even noticed. which is that the president-elect succeeds in inflating the currency with all of his tax cuts and his spending, hooe going to create a windfall gain for himself if he owns real estate. and it will come at the expense of people who lent him money. >> so you can't have any money. you're president of the united states and you can't have built anything? because, gosh, you're going to benefit along with the american people? don't we want to see the economy grow? don't we want to see people prosper, bill? >> we do, but i think the only fair thing to protect my bond portfolio is if the president
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sells everything and invests all the money in treasury bonds. >> all right, what do you think of that idea, sabrina? >> well, look, i think one thing to sort of keep in mind is that a lot of the regulations that, you know, trump -- rolling back certain regulations that would help trump would probably help a lot of americans and certain spur economic growth and job creation, if we sort of reined in the executive branch. so i'm all for some of this, but i think we immediate to be transparent about this. >> a couple of you here are concerned about it. i would only go back to what we saw with hillary clinton. you think about, john, you know, just came out very recently, right before the election, the fact that qatar actually gave a $1 million donation to the foundation of something that she and her family were able to benefit from, yet she never disclosed it. here we are talking about donald trump and his business. is there a bit of a double standard in that no one was bringing up some of these issues regarding hillary clinton? >> by definition, there's going to be a double standard. but i don't think the focus has been enough on the basic truth
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that trump should have never proclaimed that he would separate himself from the business in the first place. i think what people want, i think what voters have said they want, is they want politicians in washington to be exposed to what's going on out in the real world, so maybe they legislate better. i'd also add in the case of trump that he's got a lot of bad ideas about trade and other things. i'm generally better off when people are in washington and washington are dealing less. >> you like gridlock, huh? >> -- distracted all four years, because they maybe they won't create the laws that make us all -- >> wait, say that again? you think they're distracted or will be distracted by the likes of? >> well, let's hope so. if donald trump is focused on his business interests, that means he can legislate less. i always like that bill clinton had different kinds of strategy. generally a good thing. >> yeah, all kinds of distractions. let me share with you what the president-elect tweeted. he said, while i am not mandated
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to do this under the law, i feel it is visually as president to in no way have a conflict of interest with my various businesses, hence legal documents are being crafted that take me cleelt out of business operations. so he's gearing up for what seems like a real exit from it. and, you know, his children will be in charge. bill, what kind of -- you know, what pause does that give you? >> well, first of all, i don't think it's possible for any president to be totally clean and totally separate. i don't think trump is going to follow my advice to sell everything and buy bonds. i mean, george washington, did he divest his plantation? did he have a -- >> by the way! >> when he signed the fugitive slave draft -- >> i'm just saying, what are you suggesting, then? again, getting back to this idea that no one who's successful, who has created a business can then be president? because you're going to have to sell the whole darned thing.
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>> when you look back at some of the presidents who did have businesses, like herbert hoover, the big difference, this was before the modern presidency and the modern executive power, that was so large, it influenced every part of our lives. i think it's great that we have someone now who does not come sort of from washington, that has built something and that has -- you know, gotten his hands dirty, so to speak. but i think it's going to be hard moving forward, to attract more people, at different levels than government, when government is this large. this should be a moment where all americans are saying, let's rein it in. >> mike, your response? >> the trump presidency is going to be under the microscope? he'll put it under the microscope himself. the shenanigans at the clinton foundation went largely unnoticed until this election came around. so if you don't think that anything trump's going to do that may even give the slightest hint is inappropriate won't be noticed, i think you're all wrong. >> i think that's a fair assessment. >> i think you're right. >> you know, you've got to admit
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that the media in some ways has had a double standard in this one. in that they have, over and over and over and over again gone after donald trump, for things that they kind of gave clinton a pass on. >> well, they went over and over and over again on hillary's e-mails and so forth. we didn't get them all. >> did they? >> because i know we did! and i know i did on my show, but i wouldn't say the mainstream media, but was as focused on that story as some other members of the media. >> i would say there's two differences between the clinton foundation and donald trump? the clinton foundation has to file a tax return every year that people have seen and we knew what their -- who was getting paid what and so forth. and we don't know any of that with trump. we need to know that. >> i would beg to differ, and i think there are still a lot of questions about the clinton foundation. we don't need to go back there, because at this point, it's kind of history. but, yeah, there are questions for sure, on both sides. all right, coming up next, everyone. millions of americans stuck with student loan debt. they wanted the government to
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forgive that debt and they just might get their wish. but what about the cost to taxpayers? isn't that's what's unforgivable here? we're going to debate it, next. if you're taking prescription medications, does your mouth often feel dry? a dry mouth can cause cavities and bad breath. over 400 medications can cause a dry mouth. that's why there's biotene. biotene can provide soothing dry mouth relief. and it keeps your mouth refreshed too. remember while your medication is doing you good,
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for all your headlines, foxnews.com. okay, here's a math lesson for everyone right now. the price tag to run a popular student loan program is far larger than the department of education estimated. that's according to a new report. and now the government accountability office is revealing at least $108 billion in student loans will be forgiven in the coming years. i want to go to sabrina, first. let's think about it, it's taxpayers here who are ultimately on the hook for these education costs, if their forgiven. so do you think the president-elect, donald trump, is going to be as forgiving, shall we stay, with these student loans, as president obama? >> well, first of all, it is not
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a shocker that the government created a problem and is now making it worse. the government that, you know, college tuition prices are so high is because government got into the business of student loans. they drove up prices and made it ultimately harder for families to send children to college and now kids, young adults are graduating colleges with no jobs and they have all of this mounting debt. it is a terrible position to be in. the problem is, if you forgive the debt altogether, it is the taxpayer most of whom have other expenses or trying to save or do any number of things with their life who will be footing the bill. so there's really no great answer here. we can only hope that we sort of find some middle ground to help those young graduates, as well as the american taxpayers. >> yeah, it's sort of a no-win situation. in other words, the government should have just stayed out of it from the very beginning. i hear you on that, because they have created some false incentives. but, you know, bruce actually wants to create a few more, because he's talking about free college. bruce, your reaction to all of
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this and how would you change the current system? >> well, i think, first of all, i'm feeling the bern a little bit. remember, bernie sanders was for some sort of free college for state schools. and it doesn't appear we're going to get this money back, which is tonight say we shouldn't try to go after some of it. but i do think this is a time to consider this and to start over and move on and even donald was talking about some debt forgiveness. so i think that's where we're headed, anyway. >> you know, at the same time, mike, what about precedence here? and what kind of message does that send? you know, hey, go out there. run up $100,000 tab. you know, taxpayers will take care of it all. >> i agree with you totally, trish. i hope president-elect trump is less forgiving. you know, if you forgive this debt, you're punishing all those people who actually borrowed money and paid it back. so i hope the president-elect is less forgiving and tries to get as much money repaid as possible. >> you know, back to sabrina's point in the beginning, bill. the fact that the government out
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there so willing to lend, doesn't that create, you know, under the law of unintended consequences, a whole other set of problems unto itself? >> well, i have a plan for saving the taxpayers from all of this. instead of having the government lend money for colleges, let's have the colleges lend money for college. and that way, if they think that their degree in art history or poetry studies is really valuable in the market place, fine, they can take a chance tonight graduate and they'll get paid back. >> because right now, the only incentive is for colleges to keep gobbling up as much money as they can in tuition costs, to keep offering all these loans, and of course, john, you've got the government out there, ready, willing, and able to keep providing them. >> well, i'll just say that i don't have a plan like my friend, bill. my friend would be to just get government out of this altogether. and let's start by not forgiving these student loans. only in washington can we come up with a scenario whereby people actually believe the wealth is created out of thin
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air, such that people can go to college. in fact, there are people on the other side of those loans. to forgive those loans means that someone else is going to pay for them. what a shameful idea. those who entered those loans should be forced to pay them back. >> yeah, that said, hey, sabrina, we're in this spot now. and you know, look, to your point earlier, we never should have gotten ourselves here, and the government deserves some of this blame, the students do, too. but how do you reconcile it all? >> john's absolutely right. this is another government in which government will be picking winners and losers. you are a winner if you are drowning in dead and can't pay for it. you're going to be a loser if you are a taxpayer who is now footing that bill. and i think what gets lost in all of that is that we should be giving students and their families more control and more sort of agency, so to speak. when it's time to go to college, you need to choose whether or not you should be going to college. do you need a four-year degree? maybe a two-year degree, maybe vocational training. what kind of degree are you
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getting? we should be encouraging people to take more ownership over those decisions. >> what you're basically talking about, it sounds to me what you're talking about, mike, is some market influences in the education space. >> well, if you get the government out of it, as john said, you will have market influences. number one, the price of going to school will drop and number two, people will decide whether or not to go to college or do something else for a living, depending on what they think the return is going to be. not based on how many carrots the government is offering. >> all right. sounds good to me. the "cashin in" gang is getting ready to roll. what have you got? >> donald trump seems ready to keep his promise about extreme vetting after a somali refugee goes on a rampage at ohio state. will his plan help stop terror attacks in our country? plus, why the president-elect is ready to say adios to our new deal with cuba. see you at 11:30. >> okay, see you then. but up here, first, the
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media getting all worked up about how wealthy the president-elect's cabinet picks are. but when the democrats were in office and had rich
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comcast business. built for speed. built for business. i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. the media now speculating that president-elect trump's wealthy cabinet picks could be out of touch with americans. mike, let me ask you, who do you think is out of touch here? >> trish, the media is the not only out of touch, but they're complete hypocrites on this. where was the media complaining about how rich president obama's cabinet picks were, people like
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kerry, people like mills? they said nothing! >> we're right back to that double standard again. but bruce, you're concerned about this. you see a little hypocrisy? >> well, i do. i don't think it's the media in this. i don't think trump is playing to the voters who elected him. i mean, remember when during the campaign, hillary was bad, ted cruz's wife were bad, because they took money from goldman sachs and now it's great for him to bring goldman sachs people into his cabinet. >> all right, but, you know, sabrina and bill, bill, i'll go to you first, bill, don't you want people that have a little life experience? and i'm talking business experience there in the white house? isn't that the goal here? >> more than that, trish, i would much rather be governed by people who make their fortune before getting elected rather than after. you can count on wilbur ross not going to some uranium dealer from russia and hitting him up. >> that's a good point, sabrina! >> yeah, no, bill makes a great
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point. look, someone's personal checking account is sort of secondary of interest to me, just as their gender or their race or their ethnicity is. i think the most important thing is trump has a diverse cabinet of people and advisers around him, and people who are going to be willing to push back and make sure he's challenged as a president. >> you know why? because they don't have anything to lose. if you're a billionaire, like wilbur ross, you're going to stick to your own principles there and you're going to do the job that hopefully the person who hired you wants you to do. you're not going to be worried about, as we were just saying, right, the uranium deal. isn't there something to be said for being your own person, because you have your own wealth, john? >> well, yeah, you're not as excited about the resolving door at the end. ross is kind of interesting, because i think some of his ideas on trade are positively scary. but more my view is, i don't want rich people going into government, becausic we lose really talented people from the private sector in the process. >> i don't know --
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>> that's what scares me the most. >> but at the same time, having someone who's already made his or her fortune in government doesn't that give them a bit of a clean skalate, mike? beholden to this group or that group? doesn't that come into apply. >> this isn't someone who's looking to be in government for 30 to 40 years and then lobby. bill is absolutely right. make your fortune before you get into office, go in, serve your four years, then get out. >> bill, last thoughts? >> i think that maybe this is right, that ross is something of a protectionist, but i would still rather have him than some grasping politician that wants to get rich afterwards. >> all right. thank you so much to all of you. coming up, everyone, you may be getting a holiday bonus this year? a new report says the bonuses are going up.
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all right. we're back. with your holiday bonus, what stocks do you like? >> i like united technologies. it owns two great brands, air-conditioning maker carrier and engine maker pratt and whitney. >> bill, what do you think of this one? >> this is a sleeping pill stock, okay if you like your investors to kind of do nothing for a lock time. >> you've got donald trump out there at carrier and everything. what do you like? >> malacon holdings. >> talk about sleepy stocks! >> you guys are tough on each other. that's it. thank you so much for watching. "forbes on fox." i'll see you monday at 2:00 p.m. eastern. i'm there every day on fox
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business. for the intel report. keep it right here. the number one business slot continues with eric bowling and "cashin in." to keep our nation secure from terrorism and extremists, we will suspend immigration from regions where it cannot be safely processed. your state has just experienced a violent atrocity at the great ohio state university. and that is a great place that further demonstrates the security threats that are created and these are just threats that are stupidly created by our very, very stupid politicians, refugee programs. the job of the president is to

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