tv Cavuto on Business FOX Business December 10, 2017 2:30am-3:00am EST
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legitimate currency euro through the i-shares international treasury. up 10% in a year. >> dagen: john? >> the valuation of bitcoin better to understand jonas. >> dagen: neil now. >> neil: well nothing like waiting until the last minute congress just avoiding a government shutdown this week, and the senate just squeeked a tax plan by last week which has me wondering at least always dangerous what exactly have they been doing all this time? >> would you walk us through a typical day for you? well i generally come in at least 15 minutes late. i use the side door that way lun dberg can't see me and after that i space out for about an hour. >> space out? >> yeah, i just stare at my desk but it looks like i'm working. i do that for probably another
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hour after lunch too. i'd say in a given week, i probably only do about 15 minutes of real actual work. >> neil: now sounds a little alien to us here but a lot like congress hi everyone welcome i'm neil cavuto. to charles payne you might have heard that very familiar laugh. charlie gasparino, ben stein, so charles what do you make of all of that that delay delay delay and don't work too hard until you have to. >> clayton: remember i was in the military and said if you aren't doing anything at least walk around with a clipboard and look busy. congress, i was the only one that knew that. here is the thing though, it is ridiculous though, right? they're doing the people's work except they never go to work and now as we get to crunch time critical times real important moments in this country it's okay. i mean, something really should be done about this, should be a greater sense of urgency to get these things done and we won't end up with laws and bills that we regret later on.
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>> neil: danielle? >> i agree there's a reason leadership has a 22% rating but people are horrified about what's happened in this first year of the trump administration , healthcare reform became healthcare sabotage and the tax bill is meant to go into if we can get it through committee and back to the house is meant to go on january 1 but we don't have any regulations that will implement it. there are some problems here. >> neil: i'll put you down as a maybe. ben stein what do you make of this? you know, that's the way its been for as long as we remember they always had these budgets on the brink, and then they do something but it's all about kicking the can down the road, but we avoid a crisis in the meantime. >> ben: well it was the greatest possible respect i think congress kept much much respect that's due they work very very hard, they're not paid very much , they are really really struggling to get all of the things they need done, ballots that respect consistency with respect for the whole country. i very much appreciate our
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congressmen. i've seen them up close and personal. i've seen how hard they work and i don't believe that this is a problem of the laziness of the individual congressmen. i think the problem is divided government, the constitution sets it up as it's endless confrontation, endless non-stop between the executives and congressional and i don't think that's a bad thing. i'm a great fan of congress even when it involves closed shaved cut downs. >> neil: sounds like you support people being late for things then. okay. >> ben: i do, i do. >> finding a clip from one of the best movies about the office culture or office space and those are, as you know, the two bob's. >> neil: indeed. thank god for a young staff. >> it's perfect. >> listen, i tend to agree with ben on this. listen here is the problem. if you look at the tax bill-- >> neil: you're both protecting your sources that's what you're
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doing. >> who are they, congress? >> neil: yeah, and of course. >> you caught me i love politicians i have sources and i have targets. >> neil: indeed. but in any event i would say that the problem with this tax bill is not the amount of time they did or did not put into it. i mean the problem with this tax bill and what we have is a very big corporate tax cut, paid for with some convoluted individual nonsense that very small tax cuts to individuals and big tax increases that's paid for whether you're right there, ben? >> ben: i'm going into a trans i can't believe what i'm hearing. i can't believe what i'm hearing i'm hearing this is so sensible, it is absolutely brilliant and i think it should be a show in and of itself and there should be a show convoluted nonsense is exactly what it is. this whole tax bill has been convoluted nonsense and from start to finish they have never ever been able to present a clear rationale of what they're doing. i'm a bit of an expert and
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studied in law school and graduate school economics. i just don't know what the hell they're doing in terms of the tax bill. i don't know what the heck it's supposed to accomplish. i love lowering the corporate tax rate but i don't know exactly what they will do. well they don't know let me make my point here, thank you, ben, but they don't know either and i think the problem with this tax bill is not that they took too much time, they didn't work hard enough. they just it was just too many cooks in the kitchen obviously and what you have here is a convoluted method. >> ben: maybe because they were late. >> no, i don't think so. >> ben: they can't have it both ways. you can't have it both ways organize your time better. i don't think mr. trump ever knew what he wanted. >> charles: i think president trump laid out broad strokes to what he wanted and by the way ben these guys in congress make a lot more money than people watching this show right now and work a lot less so no one is pulling out the violin for them.
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they go there and they aren't working hard enough and that's why we have these fixes. >> ben: i don't know why they do work so hard for them. it's interesting i've been solicited to run for congress and for the senate from california over and over and over again and i keep saying what's the point of it? you work and you work and you work. you don't get paid much to speak of. you people are yelling at you all the time. >> charles: and yet somehow so many of them live as millionaire s, but that's a different topic i think. >> ben: but there's so many millionaires that's a different world. >> charles: but here is the point though, really i don't think there's too many cooks in the kitchen. i think so many of these things have committees, subcommittees, leadership, it's so opaque that even members of congress, high ranking republicans don't know what's going on and then they open the door and say sign this tomorrow morning. what are you kidding me? everyone has got their own interest. >> ben: well i know things are generally done and it's sort of like in college when you do the overnighters right before the
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exam and you forget everything you studied shortly thereafter so i know that's human nature but in the end what we're left with is stuff that's slapped together that doesn't really solve anything for anyone and i'm wondering whether this tax package to charlie's point is that because the argument for it is well it's better than nothing >> i don't think a disaster like this is better than nothing. obama made sure the george w. bush tax cuts ran on so we've seen relief from the previous administration. >> at ridiculous times that that's a whole other show. >> but there's handwriting in the margins we have democrats on twitter saying over 600 lobbyists in d.c. saw this before i saw this. this is not the way to pass legislation. >> neil: but that is the way legislation generally goes. >> ben: madam, it is worse than that. do you know that they passed this gigantic tax bill with not one hearing and one one witness. that is insane.
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>> i agree and in new york people gave obamacare an enormous amount of trouble they gave obama, but this is a long period with an enormous amount of-- >> extra bill where pelosi said you have to know what's in it. >> but she said that in a conference. >> she said it. >> ben: the fact that you quote one lunatic doesn't really change anything. this was a giant change in the entire architecture of revenue collection of this country and there was not one hearing and not one witness. i love the republicans and i will go to my grave never voting for a democrat but i think this is a serious mistake. they should have gone out and let us have a full say in the country's taxation situation. >> neil: all right guys we'll take a quick break here, whether they were part of a harassment or not these guys are out but that slush fund in congress is not now why is that the case after this. >> today on forbes on fox new signs the gop is losing the battle over selling tax cuts but
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business. >> neil: all right this thing about this conyers out, franken out, franks out, but that sexual harassment settlement fund in congress is still very much in. now when lawmaker is pushing to get rid of it and repay every penny of it danielle, not all lawmakers have resigned or took advantage of this slush fund to take their enemies and their comments out of context or out of the way, but you do have to wonder what's going on at corporate america where they're out as soon as the allegations go versus congress where they linger until someone finds out. >> danielle: i think this is just a mutual difference in the timeline because a corporation that has somebody whose a figure head their brand can go down the
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tubes really quickly with these allegations, but somehow politicians seem to be a little bit more like teflon. 264 of these complaints since 1997, i think there's more reporting and rumors of more reporting of 20 or 30 more politicians who had these kind of allegations and i say allegations because it's an important thing to remember. >> neil: it is important thing to remember and by the way i'm fully aware of the the glass house which i sit box so i'm not casting judgment here, but i am saying that and ben stein you can help me with is there a sense that you have that did you for example, know in all the years in and out of washington that such a fund existed because it goes back decades yet every power broker with whom i chatted has claimed total ignorance and these are big people in both parties no one knew about it or said that. >> ben: well i think that we've got the whole situation upside down if i may respectfully say so. not one person i know has been
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convicted of a crime. i don't see where there's a problem with a slush fund if like i said for the fact that the slush fund is paying for things that we don't know if they even occurred in the first place. i'd like to see some evidence. i'd like to see us get back to the standard of innocent until proven guilty. >> neil: we know that $70 million has gone out. we don't know to what degree it will be. but does that bother you as a taxpayer i know the a rounding error. >> ben: it bothers me very much. indeed but i would like to say again, if i may get back to the basics, this is a constitutional republic we live in we're not supposed to be finding people guilty on the basis of allegations but finding people guilty on the basis of long and drawn out legal procedures. i don't like the idea, the whole thing of being found guilty as
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soon as something is alledged against you breaks my heart and i'll say this also, al franken as the other side of the aisle for me on every single issue you could possibly imagine, but he is a real seriously committed public servant and the idea he's out of congress because of his allegation about him playing a practical joke, when he's not even a congresswoman a comedian is just nuts and i feel very very bad about it. >> neil: well you raise a very good point, why does the statute of limitations are already saying charlie gasparino if roy moore gets elected despite the fact that those who are saying let alabama voters decide, some of these charges date back four decades. >> charlie: there's two stories here the whole response to the sexual harassment issue and then sort of delineations between roy moore which i think is disgusting what he did, and by the way-- >> neil: what he's accused of. >> ben: but we don't know what
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he did charlie. we don't know what he did. >> charlie: versus al franken doing some stupid stuff, i mean i think we can debate that. i think the big issue getting back to what you brought up is the whole notion should congress , should taxpayers be funding a slush fund to handle this and what is the difference between that and what a corporation might do? we should point out if a corporation starts paying these things off just the allegations it's coming out of the shareholders pocket not the taxpayers pocket. the minute you involve taxpayers in something like this becomes red flags and by the way it's always open to abuse where it just gets paid. >> neil: i do think it gets to be a side show though and this is where you have to then worry about their priorities because they have to get tax cuts stuff done presumably whether you like the taxes or not big spending initiatives done and yet always veering off of these. i'm not saying some might be very legitimate concerns though but eventually be born out but they have other work to do and sometimes both sides could seize on this as an excuse not to get
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that work done. >> charles: they will seize on anything not to get the work done kick the can down the road no matter what the topic is. >> ben: i could not disagree more. i have been there, i've worked on capitol hill these guys work like maniacs. >> charles: ben regarding to our continuing resolution because they can't get it done, i'm just saying-- >> ben: that is because of the way the constitution sets up the government with the tripartite state of government. we aren't running into a crisis about that but what i think we're running into a crisis about is suspending the rule of law and saying a person is guilty if he's just charged with being-- >> charles i'd like to weigh in on that as well. >> ben: oh, boy oh, boy oh, boy. >> charles: there was a period in this country where people were actually hung because the crowd mentality and i think one of the reasons we became the greatest country in the world is because we have a constitution and a rule of law. now you can lose something in the court of public opinion.
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>> ben: amen. >> charles: but we know it's a typical one that congress should not be paying these things out any congressman whose involved in it should pay the taxpayers back and we should get the rule of law going. >> neil: all right, i wish we had more time for this actually i'm very glad we don't. meanwhile 228,000 jobs were added last month so who gets the credit for that president trump has been touting the growing economy since he took office and president obama makes a speech this week saying do you know what? you can thank me america, we're on it america after this.
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>> as we took these actions, we saw the u.s. economy grow consistently, we saw the longest streak of job creation in american history by far, a streak that still continues by the way, thanks obama. >> [applause] >> neil: all right president obama taking credit this week for an economy that continues growing under president trump. charlie whose got it right? >> charlie: it's trump's economy now and here is why i will say this. if you look at the trajectory first of all generally economic expansions last seven years it should have been donna round the time he left office and the amount of growth that came post-
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trump and by the way before you jump down my throat, i am no trumpkin. >> neil: that's for sure. >> charlie: but if you look at the wage growth there's been wage growth. >> neil: so that acceleration is on the president, this president >> charlie: and here is why. >> neil: real quick. >> charlie: he does one thing but say no more regulations it's a massive tax cut and got to give it credit. >> neil: i'll tweet what you just said within seconds. >> charlesment. president trump unleashed this economy and initially they call this soft data because it's survey and now it's hard data and jobs and this is trump's economy and it's on fire. >> neil: danielle, whose economy >> i'll say it's mostly obamas, thanks obama but i will say seeing stock market, you look at a graph and you'll see the gradient incline there's enormous amounts of business confidence since confidence is also an in clean. >> don't forget gdp. >> danielle: gdp is great. >> neil: but would that gdp be
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happening say we're in the ninth year. >> 1.5% per year average on obama. >> okay, that's numbers. >> ben: let her answer. >> all i'll say is if you take seven years, after we got out of the kind of hole and we had the stimulus package there were indicators of the economic health that is continuing under trump that we saw really come out, we came out of this. >> generally you hit bottom and ben is an economist you generally get a b shaped recovery. >> charles: it's called elasticity. >> charles guess what we got, we got kind of a i don't know, little v? >> neil: all right ben stein? who gets the credit here ben? >> ben: well, i think mr. obama gets the credit for a very sound fiscal and monetary policies when the economy was struggling and in real terrible shape although i think ms. yellen gets credit, she should go down in history but what i'm looking at
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and worrying like mad about is inflation. when we are running hyper stimulating government of fiscal policies in the midst of full employment, that almost always leads to inflation and i am very very worried that my daughter and my son are going to be living in a hyper stimulative economy. >> neil: they have hyper stimulative dad i think. that's the problem there. >> [laughter] >> neil: i want to thank danielle, i want to thank charlie. meanwhile are your 20 something year old kids still asking for an allowance? you're not alone. our guys have the stocks to stop all that muchi?
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love steve win and stick with the indexes. >> you are watching the place for business. you are watching fox. >> democrats are winning the message over the gop tax-cut plan, they say it is a giveaway to the rich and not just the mainstream media, new polls show more americans - some say it will lower middle-class americans even more than the rich so who has it right? i'm david asman. let's focus with elizabeth mcdonald, rich carlson, sabrina shafer, you are the tax expert -- will this make
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