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tv   Cavuto on Business  FOX Business  December 24, 2017 6:30am-7:01am EST

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>> flu vaccine, proctor and gamble up 15% in a year. dagen: you need more john help me help me. merry christmas. neil is now. >> they're taking great credit for this accomplishment. well i call it a pure victory because it's a frankenstein. >> anybody familiar with frankenstein knows it was a creation a monster created. do you know the ending of the mary shelley's story? the monster comes back to destroy. neil: all right well democrats like nancy pelosi want you to think that the new tax cut will strangle the economy, but are we already saying to take on a new
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life, hi everyone glad to have you i'm neil cavuto. well, at&t, comcast, wells fargo quite a few companies already handing out bonuses making new investments because of the republican tax cut charles payne says more will likely follow their lead, also joining in is charlie gasparino, we've got deirdre b back with us and along with ben stein. charles what do you make of this , early signs that look like we're getting more than we thought from some companies. >> it's alive. it's alive. neil: [laughter] that's not bad. >> the economy is already rock ing and rolling and we saw already there's a whole slate of names the biggest tell a lot of people miss it tuesday, fedex reported and in their report the ceo said we are going to hire people we're going to spend money on infrastructure, and we're going to fund our pensions and we are also going to do that and have a buck extra for the bottom line was the first on tuesday, so this i don't see how anyone could be against this and
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certainly is going to be an up hill battle for nancy pelosi to tell" to folks when they start seeing a fatter paycheck earlier next year. neil: ben stein the unexpected development was a curse of riches for companies they have a lot of money to play with and not only from the lower rate but from all this money that will be allowed to come back here at a much lower rate of 15.6% so take advantage all they can and hence the curse of riches and trying to spend it any way they can and in this case satisfying shareholders and potentially workers what do you think? ben: wel i think that you're missing anoth incrediy important parthich is the abity to expense not he t depreciate b eense research exnse which is going to so abous comment about what she was made a lot about the deficit. of course the democrats always worry about the deficit where the republicans are in power and they don't worry about the fact
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that obama added more to the deficit than all other presidents put together, but i think that it's a bill which is very complicated and hard to understand but once we understand it and once we got it straightened out in terms of our accountants, i think it's going to be a bonanza for american business. i think it's a bonanza for the economy generally but it is going to be some rough getting used to it at first. neil: all right so ben stein is probably not filling his taxes out on an index card. deirdre what do you think that this is an unexpected? >> i see these companies arguing as good as a pr spend just to avoid future criticism as possible. charles you talked about some of the bonuses that companies are giving out, at&t is one and cvs actually specifically said we're going to hire more workers , a lot of different companies comcast included at&t as well talked about investing billions of dollars in infrastructure so all of these companies they just want to avoid that fat cat label,
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nobody really wants to see this return of the 99 versus the 1% so the companies are saying you gave us this tax break on good faith we're going to invest like we're supposed to we're also going to give money to middle class workers, even apple has made vague noises about hiring more people in the u.s. , so i just think this is very if i were running corporate communications for any big company this is exactly what i would be saying. neil: i wonder if there was an understanding, gasparino that look the republicans would tell the ceo's we're really going nuts here for you. you better do something and more than just buying some stock. >> i just want to say that see if ben picks this up that nancy pelosi is being very abbynormal. do you get that ben? do you get it? normal brain scene in young fran in stein but in any event, listen. neil: i think charles payne is
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there. >> sorry i had to put that in there. bottom line is corporations and boards have a fiduciary responsibility to shareholders and of course this is cosmetic because the first thing they do is big stock buybacks and m & a. they're not hiring people off the charts. now will they eventually hire people? i'm supply side. i think yes. where this tax plan goes abnormally wrong is on the individual side not on the corporate side. they are actually looking to raise taxes on some people and that's horrendous, where they give tax breaks to private equity executives and guys that run oil & gas companies in texas and there's a lot of weirdness in there. >> technically, those cuts even expire in 2025 even for middle class. >> but what i'm saying yes i agree but although they can extend but my point is they should have done something better on the individual side and i think that's where this thing could be a land mine for republicans and people like in april they say, you know, i'm
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getting $20 of my paycheck a week which isn't that much but some people are really getting hammered but the corporations are just doing nothing but stock buybacks that's something that could help. neil: adam what do you make of that? >> so my thoughts are very much in line with charlies. i think these companies it's funny the ones you mentioned comcast, wells fargo and at&t i think this is more government pelageses than public relations. they want to very publicly say thank you to president trump and by the way we've got a few regulatory issues in front of you that we could sure use your help with. neil: i don't even care about their motivations like sometimes when my kids are behaving right before christmas, i know what sort of phony worms they're being but i'm okay with it. i'm okay with it right? >> yeah, i see that and i think what we did. neil: really you think like that ? >> [laughter] neil: you're honest. >> i'll keep it with the corporations.
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i think lowering the corporate tax rate was a sensible move that most reasonable people agreed with that was a good idea but politically as charlie said the republicans are going to have problems on the individual side. the individual otherwise known as voters. >> charles: i disagree a thousand percent and i don't disagree the democrats will try to make people feel bad because they're not rich and it's going to back fire. the class envy stuff i'm so tired of it because the bottom line is if i'm keeping more money in my paycheck than i've earned and you're telling me adam don't be happy because somebody is keeping more than you, that's despicable. >> actually you won't keep more money. >> according to the most liberal analysis 80% of america will get $2000 a year. >> $38. neil: who cares if it's $2. >> i'm saying you are giving an average by $38 a week.
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>> i'm waiting real patiently trying to get in some facts here this is the most liberal of all of the folks who scored it some scored it higher who could say it could be as much as 4000 so 80% or more will get more money in their paychecks. these are people who voted for president trump and this is what they voted for and the democrats want to run against that adam fine. that's all i'm saying. >> people who don't pay a lot of income tax are getting an average of $38 a week in their paychecks. people that pay a lot of income tax, people that don't work. neil: we started the show saying the surprising benefit of what these companies have. >> i'm just saying this, that if you're an average worker you're going to get $38 in your pocket a week. if you're a big company it's a big deal. neil: deirdre? >> ben: but boys and girls when the stock market goes up, everyone benefits. it benefits your ira, all your retirement plans it benefits your children's college
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endowments. it's a big benefit for everyone. >> by the way when the stock market went up under obama people were saying it's only the rich people making money. i remember that line here a lot on fox news and fox business. >> of course he's right. >> charles: i'm going to say one thing guy before anybody gets in. if you can go today to your nearest kmart or wal-mart to the layaway section people who have layaway for $150 and if they can pay that off today would be the happiest day in their life. i've seen it firsthand for the last three weeks. neil: very well put. >> so it means a lot to a lot of people. >> that does mean a lot and to your point about statistics even the most septic of all of the think tanks have said 80% of the u.s. population will receive a benefit and we can talk about whether it's good enough or not good enough. >> $38 a week in texas doesn't go that far. neil: well i think it was
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charles who dropped the mic. >> [laughter] neil: i don't know. i have no idea. in the meantime, ambassador nikki haley is putting the united nations on notice you don't vote with us. we don't open our wallet for you is that a risky move or is it one that's about time? after this. >> today on forbes on fox the media focusing all year long on accusations the trump administration obstructed justice in the russia probe but not so much time on new accusations that the obama administration obstructed justice to push the iran deal through. we're going to it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from
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on business. >> the united states will remember this day in which it was singled out for attack in the general assembly for the very act of exercising our right as a sovreign nation. we will remember it when we are called upon to once again make the world's largest contribution to the united nations and we
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will remember it when so many countries come calling on us as they so often do to pay even more and to use our influence for their benefit. neil: just saying we're going to remember that's all i'm going to say. i'm going to leave it at that. we're going to remember. >> [laughter] neil: holy toledo. u.n. members overwhelmingly voting to discredit president trump so there you saw ambassador nikki haley saying we're going to remember that when those same countries ask for more of our capitol. charlie gasparino that was a tony soprano moment. >> not just because i'm italian and i hold grudges and i know a couple tony sopranos in my life. that was amazing. i love this woman. she did finally what needs to be done. listen. neil: but it didn't change any vote. they still voted left sided. charles: a lot of people don't vote. >> just the fact that you lay down a marker with these tin pot
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dictators that control the united nations and think they control that. neil: apparently that's germany and italy. they're idiots too. listen, europeans and i wouldn't put the uk unthere but i'd say that germany and particularly italy is a very disfunctional country and we should not be taking our orders from the most disfunctional countries in the world. adam what do you think of that? >> i completely disagree with charlie and here is why. we can beat our chests and say doesn't this feel good. that's fine. we don't give aid to these countries so that they will be nice to us. we give aid to these countries, so they can pursue our foreign policy interest. >> give money to pursue our foreign policy interest. neil: he's saying these are the breaks it doesn't always go our way. ben: i think the total u.s. contribution in terms of
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foreign aid to other countries in the world are very trivial compared to world financial and business product but i also think that it is a shame and a disgrace that the overwhelming majority of negative votes in the united nations overwhelming majority of them have been against israel and i often wonder what kind of mental illness is there sweeping through the united nations and sweeping through the whole world that hates jews so much. why do people hate jews why do people hate israel. it's so generous that even when terrorists fighting in syria are wounded their fellow terrorists bring them to israeli aid stations to get medically treated because this is the way israel is treated. >> you make a very valid point that they are even up to say that we reject this we don't want to see this and we're going to put our money where our mouth is and good for trump. it didn't change nipping. >> i think as far as practicality and brass tax it is very hard i'm happy nikki haley
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said what she said and it's very hard to put into action and i think the reason is that yeah, we are pursuing our own foreign policy. i agree, with adam we don't give money just so people are nice we give money to pursue what we want to pursue and for example, egypt i think is one of the biggest recipients we've given like $78 billion worth of aid since 1948 and it's so that we can put soldiers there. neil: is it working? >> well we don't know because there's no test case where we don't do it and we find out what happened. neil: but charles said real quickly you know what happened the next day the u.n. security council voted 15-0 including china for tighter sanctions against north korea now that's a day after this vote. i just found that interesting. charles: i find it interesting and i think nikki haley has done an amazing job. i agree with everything charlie said. every now and then but i think it's the christmas spirit. >> [laughter] charles: bottom line though is adam it's our money and our policies and i think we are tired of the united nations diss
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ing america. it's really pitiful. >> the greatest country on earth charles i'll consider that the greatest country on earth the leader of the free world we can take it. we can take the criticism. ben: why should we take it. but why should we take it adam? charles: so true. ben: why should we take these people and give them money? >> it's so ridiculous. they get our money because we want them to be nicer to us, and when i say nicer? we want them to execute our strategic aids that's why we're giving them money. neil: guys thank you all very very much. amazon might be looking at santa but last minute shoppers won't but last minute shoppers won't let it be
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♪ the most wonderful time of the year ♪ neil: [laughter] that was the gasparino shopping last year. >> [laughter] neil: anyway amazon wants shoppers to avoid that the online retailer is expanding same day delivery service and if you get your order in by 9:30
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tomorrow morning the company says it can still be under your christmas tree, christmas morning. charles says he's hitting the stores instead. charles: i'm old school with a can of mace, and i don't know what it is but i'm hitting the stores and i'm last minute shopping. neil: you realize 120 americans too. charles: my wife has enough there amazon that we have a fulfillment center as part of the house . neil: [laughter] adam what do you think of that? >> well charles jokes, but it's true. what they've done is simply amazing. they've just transformed retail, so the only opportunity is to try to do something that isn't, that amazon can't do, so to be one of those special stores that charles is going to be going to. charles: where they give you a smile and a handshake? yes. neil: and then kick you out the door. deirdre now you were at one of these fulfillment centers it's amazing how they get that stuff out there but they do it. >> they do it and they have 50 centers, these prime now hubs,
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50 across the world nine different countries you can get something within an hour or two. they deliver right up through christmas eve and one thing we can point out about the business model is they can just offer whatever you want if you know what you want, they can get it to you cheaper than almost any other place because they're making money on their web services right? so they can afford to sell paper and pens and paper towels and wrapping paper at a pretty steep discount because all of the money is coming from there. it doesn't matter. neil: ben stein is this the way now we have to deal? ben: it's a very sad way of the world because it means that the social where the meeti place ishe t geral stores where people hung out where peoe et people to greet their friend they're disappearing. malls are becomin ghost towns and the difference in the malls out in palm springs or palm desert where we live are becoming emptier and it's a sad thing where are people going to make friends now, i mean it's a
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sad thing. look at the time. neil: my thanks to charlie, thanks to deirdre. and top pick [lance] monica, it is absolute chaos out here! gale force winds, accumulations up to 8 inches... ...don't know if you can hear me, but [monica] what's he doing? [lance] can we get a shot of this cold front, right here. winter has arrived. whooo! hahaha [vo] progress is an unstoppable force. brace yourself for the season of audi sales event. audi will cover your first month's lease payment on select models during the season of audi sales event.
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>> did you make a profit off of charles' top pick? some new year and new stop. >> i like avery packaging, and making money off the amazon phenomenon and i think that crude will be up big next year. neil: ben stein? >> i think trying to pick the commodities direction is a hard thing to do. and i wish him godspeed and hope he gets terribly rich. neil: adam, what about you. >> on the formerly sound pick, the economy is going to continue to grow nicely and i'm kind of with ben on the oil
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pick, charles, it's already up big so maybe yes, maybe no, i wish you luck also. >> thank you both very much. neil: i don't think he means it. >> merry christmas. [laughter] >> continuing with david asman, you are watching fox. david: a new bombshell report saying the obama administration obstructed an investigation into a drug and gun running ring backed by the iranian hezbollah terrorist group in order to ensure that the iranian deal would stay on track. some here say where is the mainstream media on this. welcome to forbes on fox. steve forbes, rich, michael, elizabeth mcdonald, and bruce jackson. the report appeared in politico, this is not a trump

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