spoil "game of thrones," i'm trying to keep them all together to drinbinge them all. i am not into it, "bulls and bears" starts right now. >> we're proposing an immigration plan that puts the jobs, wages and safety of american workers first. our policies have turbo charged our economy. now we must imminent an immigration -- if lo -- >> >> president trump launching a sweeping new immigration overhaul. new details of the plan. it will be enough this is "bulls and bears," i am gary kaltbaum in for david asman, joining me on panel today, liz peek, and jonathan hoenig, scott martin,

we go to edward lawrence at white house. reporter: president unveiling new immigration flan said it will bring the best to american, stresses a merit-based system. >> biggest change we make is to increase the pro portion of highly skills immigration, from 12% to 57%, we would like to see if week go higher. reporter: president said that system will be based on points, having a skill gives you more points, starting a company that hires more employees more points, republican said this could be a final plan to help fix the system. >> overwhelming our capacity at border patrol and our ability to manage the flow of humanity, border patrol told us they are at risk of losing control.

reporter: senator blumenthal said that proposed plan is dead on arrival, saying it is wrong in so many way, nancy pelosi also attacks president over the border. >> let me say this, we never said -- there is a humanitarian crise at border, some of it provoked by actions taken by administration. reporter: in other side pelosi said she wants to work in a bipartisan way on immigration reform then says that administration is acting in a shameful way with illegal imians crossing the border, what not addressed is what to to about so-called dreamers, house speaker said she talked to president about daca and house will consider a bill on this. >> so what do you make of the plan. >> this is right in so many ways we have 7 1/2 million jobs, not enough people to fill them.

this social security system is on the brink of disaster. we need workers, nothing about our current immigration system allows us to go out in world and encourage those people best suited to build our economy. we have lowest birth rate in 32 years. this is a demographic issue for america, a lot of country face 24-rbg immigratiothis-- immigrae the problem. >> liz, i am so glad to hear you are pro immigration, i agree we need immigrants, back to words of the statue of liberty. who desired decides who has mero does not? you talk about jobs that need to be filled. it worries me that government is in control but its own admission

to micromanage the economy, they will try to prop up wages by limiting immigration, the criteria should be self sustaining no welfare no handouts for any immigrant. >> that reminds me of h-1b side, approval down because of that merit based system. the government has chosen or not chosen. that is a great point to how that works, it does not work well. i like the change in asylum loopholes, that created more of a fracas at border allowing more people to stick around, if we work with congress on getting asylum fixed that is a double win. >> i don't often agree with jonathan this much this early in the program but here i am. i have two words, make babies. we're not making enough of them

in america, if we don't grow our population we'll shrink and go broke over time, we need immigration, i think proposal circumstance these are what we can agree on. we agree we want the skilled workers, and all these people. but just the thing, think about immigration history, a lot of people who would not po point ty they are highly skilled worker but their productstion has been generation after generation. >> a great point, bring people part of mensa? and who rates them and why? > what kind of scaling is it and who is doing the scaling. we need every type, every person for everything out there. >> i think leaving it up to a lottery is worse, i heard two heartbreaking stories last night about young people came here, one from south korea from india

succeeded in learning to speak english, they were deported last year, because they did not fit the i don't know what. sort oftivity that the government -- tes test governmet that has set up. >> one of their tests that president trump wants to set up with english proficiency. >> that is is not true it is a point portfoli-based system. >> there you go with point-base. >> that excluded arnold schwarzenegger, mila kuhnic and gloria estefan and carlos santana. >> should there be no stonnard d who we encourage, should we not ask for best and brightest and athlete welcome best and brightest when they go to our

universities, even if they are private. they are financed and subsid sud by american tax payers to some degree. >> we have to go from an invading horror. we say, we want high merit people, we have to be clear but how much we want, we want to make sure america stays a welcome place. >> i have met so many people that sounded like nothing and became so huge and people that sounded like they had greatest of talent and had nothing. it goes to who makes the decisions and how they make them. >> i think too, comment made about unfilled jobs, those are jobs that can help these people that would turn into nothing

because we have so many unfilled jobs here. therefore if bring more people in to fill the jobs, they might get gai gainful employment. >> and i am noticing how many people they, low in going forward, less than bev, jac -- before, jack you brought up the number of birth rates that are plunging. that and i problem for u.s. going forward. >> it is. we have to do something about it, grow -- look, if yo -- if yu are a worker in america and you like that idea of social security waiting for you, we better have enough workers then to fund those programs. >> we have to have workers who are sustaining themselves or doing better than that, creating wealth. and i am sorry, but i think that

people coming across the border who are uneducated almost immediately department on welfare systems and so forth they don't have same attributes of those who are well educated who can immediate me take -- immediately take jobs and start paying taxes. >> get rid of welfare you get rid of those freeloading immigrants. >> always have an issue. >> yeah. >> one criteria, that i appreciate, is that idea you have to demonstrate employment, people who come here and be sustaining should be well regardless if they are picking apples or working in hospitals they all benefit america bottom line. >> look, i think we have millions of unfilled jobs, they can get employment, not like

they can't come over confident not work. there -- they can't come over then not work, there are all kinds of job. support welfare system. >> all right good news, we're talking with iting bi big storyg socialism, fox business hosting a spirited town hall this afternoon. billionaire businessman fossa free sounds off next on "bulls and bears." >> you are shifting the subject, you go at it based on emotion. here is an -- allow me to finish. all money managers might seem the same,

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gary: capitalism versus socialism, it is a big issue the campaign tril tril, we're focusn it here at fox business, chain - charles payne hosting. >> not right families have to make a decision. what we're trying to move

forward is a model that works for all of us, not a few at the top. >> capitalism competition for example. one of them wins the other goes out of business, the one who is left is bought by the one who wins, competition produces monopoly that is a big problem we call in government. gary: bring in founder. nonot of -- foster frees. >> i am amazed he has not hired a rental car, there is her hertd avis and alamo. they must live in urban areas and have a slanted view of how society works, people not able to buy prescriptions, that because we don't have enough of people of wealth who are funding

the programs and funding the companies, you can have pharmaceutical companies provide medical drugs for people who can't afford it, that is a myth. i believe that we have -- we should be helping lower income people get better incomes, my friends, billionaires provide money for scholarships for welders and plumbers, ask socialist how would they benefit if bill gates or anyone's salary cut in half, think of how many taxes that man plays. and the barrettes, chairman of intel, he gives away computers to hundreds of kids, a very wealthy man, and president of basis schools, 5 best schools in america. so, where would we be without the people of wealth, the

american dream is about creating wealth, i started with 800 will dollars i have been so blessed by god that i was able to do it. think about tiger woods, he got 2 million by winning. look at what he has done to income inequality, he should not have done that. >> do we talk about socialism and capitalism like some on/off switch. you look in world, every government in world is socialist to some extend. i say, what do you spend the money on? if you spend it on something good, maybe it worth while. like a little simplistic from the start this switch.

>> you are so wise. to state that, roads, they come from the government in 1998, you look at webster definition of socialism, that is when government controls means of production or much of the economy. now if you look at google there is a different definition, that when means of production and processees of the economy are controlled by the community has a whole. that is kind of drifting to the left as if the community siz coa whole loves being taxed at 80% like in sweden. it is is not free, folks. i think that whole idea of freedom, i want to hold this dollars 100 bill, i say, right now, i can take this bill, and go to any doctor that will take me, any place in americaing amei

give this to bernie sanders, he will decide what doctors i go to. americans do not want socialism, i think that these people who are promoting it need education. i have offered aol -- alexandria ocasio-cortez to g to -- to dinr with me to see how it works. these people, in 2017, they gave 413 billion dollars in chair iti -- charitable giving. >> i have to justinrupt and question, you. thank you for being with us, you are right capitalism produces goods, why in your defense are you talking about all money that wealthy people give away. that is inconsequential, what about value that wealthy people

built. whether the jobs, why is giving money away more important, sudden earning it -- isn 'ting it american. >> you nailed it. theme pay give back. stock up like 7 fold, tens of thousands of shareholder approve his salary because they have benefited. you are right, eac person in his life work creates something for others. adam smith said that candlestick maker and shoemaker and baker in pursuing their self interests fulfill the needs of others, they employees people and

provide products that we need, i think, i just thinking your program should be broadcast coast-to-coast so they get that message. since he has been in 2005, stock as i said that gone up. >> today harvard professor cornell west speaking to neil cavuto today. >> for everything out -- you know restricting. >> we lost the sound. foster, i want to ask you i question, i keep hearing from socialist they want to put more power in people's hands but by definition they give decision

making and more money to people in washington, d.c. >> you hit it on the nail again, i was in russia they had special stores where tourists can go, guess who else can go? communist leader, the normal guy can go there and biden is impressive, but now leaders of own country discovered from joe biden's son gets 50,000 a man from a ukrainian gas company, and apparently president obama gave biden right to distribute money to countries, expur ukrais entitled to a billion, and scroab jejoebiden said you willt money until you fire the chief prosecutor whose board is on the

son that my son is paying. -- you do out and find out how the leaders live. venezuela i am told generals get a million each to be loyal. gary: scott martin has a quick question. >> i don't get that, you know socialist as we heard in town hall, as much as i want to bless their hearts they talk about people in capitalism stuck in dead end jobs, when in reality, if it was socialist, the capitalists allotment and opportunity is one that's, lows us to -- allows to create that job why is do they have that image so backwards. >> i would invite them to meet

by friends. like the barrettes who give millions and tomato king. who starting to give schola scholarships to people to dewelcome welders and plumbers, what can wealthy people do with their money, we enjoy making the world's better place. as we leak at these socialists, when we get to our own isolated point of view and give each other high 5s, we have a tendency to look at other side as stupid and ir evil, i doing t believe they are, they are just misinformed. i believe roman 12, said you forgive them, love them and pray for them. gary: hoard brea hard break timu so much. >> thank you. >> college admission scandal

could bric bring now changes tow s.a.t. scores are calculated, but is that the answer? next on "bulls and bears."

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gary: students taking s.a.t. exam will be given an adversity score, calling colgates using -- will be calculated with crime rate at student high school and neighborhood. to factor in socio economic hardship amid concerns that the wealthiest students are getting a pass. >> i just think this is demeans

the achievements for those who do well on the test, i'm for universities looking beyond any type of test, look at interviews, and grades, and activities, not just the test but to pad the test to prop up people's scores does a disservice. >> my understanding it starts as know extra piece of data, information on the side. we're learning this about you. and it might help us learn whether the test is go good for stated purpose that is predicting your success in college. but if you go down this road, where suddenly we sues use thisw piece of information to adjusted 6to adjustscore it is difficult. >> there is no question a lot of kids, they have advantage, the kids who money get tutorials and

practice tests, maybe this serves to level the playing field a little bit. i am with jonathan, you are muddying the water, the elite colleges, they know the high schools they know where the kids come from, this is nod note a random -- not a random selection. >> you know jonathan may have taken those tutorials and managed to get a perfect score. he is right, standardize testing is not good, but the weird thing there feels like back-end maneuvering with colleges continuing to figure out a way to diversify. the tests by providing this

information, allows them to do gary: i think there continues to be a pattern of adding things on. we talk about standardize testing, i always get to the point who decides and how? and who decides on who diseases. >> the mid 90s, the regatta question, it was on the s.a.t., about a regatta and an oars man. the point is, they started to decide in '90s about makings changes, and with was unfair because the fact it was not right conclusion made by testing board, there is no rules. >> i put regattaa on my inta s i

would have nailed that question. >> mr. president are we going to war with iran? >> i hope not. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence.

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unnoticed here in washington, i hope the course changes. >> i understand that a british officers disputed the reports of missiles loded on to a boat in iran, what do you make of that? why would they not agree what is obvious evidence? >> you know there is always the dynamic this is ever changing. you know the escalation by iran in this area is clear. i think that is without disagreement. we have to do in america send a message that is not going to be tolerated and not acceptable expirk ran needandiran needs to. >> we have kind of been through this already with iran in the past. they get message but they don't

deescalate. what are next steps? >> you have to depend on next situation, but we'll not allow this to go unnoticed, there will be a response, but we do not want to engage in conflict or have it escalate. now is time for cooler heads to come on the table. >> i saw reports in media that some president's administration were speaking more hawkishly on the subject than the president. do you think that story is overstated to your mind, are president and his administration speaking in one voice. >> i think there is one voice there i can see where president is at, he has followed through -- his campaign promises to disengage american forces in the world, use of military force is always on the table with the president, but he would like to have matters resolved without

military conflict and without escalating, but we need to send a message. it will not gun noticed -- it will not go unnoticed and we will stopped. gary: you met with the president with his immigration plan. and nancy pelosi speaking it will be dee dead on arrival. >> there you go, partisan politics, but she will have to deliver on part of her majority maker democratic members they can govern, if they cannot compromise, i give president credit today, he put a marker down, something in black and white on the table, my hope that pressure on nancy pelosi will build from her members say we need to do something on this.

>> we're of the opinion this is going no place fast, correct. we head to 2020 election this snore of -- more of a cam plain platform. >> i think that president by having us over and anothers wants to get a deal, you hear dead on arrival that is not conducive to finding common ground, i think your outlook is accurate. >> this sound like they left the dreamers in daca situation out of the conversation, is that because they hope to use it as a bargaining tool to wring democrats in on what needs to be done? >> i think it is a moment in time for democrats to put on table what they stand for, if dreamers and daca kids is something they want to fight for, this is their peurn t -- to

-- opportunity to do, that they are not evening putting if on the take whel is a shame. >> is there anyone outside of nancy pelosi that side of aisle this is auctioning about it or trying to meet you know part way at-this-point in time. >> there are, i can tell you in problem solver cuc us, our bipartisan group, trying to find common ground, the discussion there is positive, we want to find a compromise. >> that is the thing, do they want want to find compromise? we talked about this, we've been over this in the past, they don't want to find pompize, any compromise they atribute to a win for donald trump. >> i think that american people,

the violent majority voice, saying if that is what you do in one wash dc was to block any kind of construc constructive ce verification. but i think that the majority of americans are speaking with one loud voice. find common ground thank you congressman. >> new york city mayor bill de blasio making it official, becoming 23rd democratic candidate in 2020 president at race, but his bold come comments are raising high -- eyebrows. >> i am a ceo, i am chief executive of the biggest city in the country.

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>> it is in the wrong hands. >> new york city, a place that is legendarily tough. and big. and complicated. >> good thing about new yorker

they look the same whether they are really pissed off or they like you. we build an agenda that puts working family first. gary: is new york city mayor bill de blasio announcing his run for president, adding to the already crowded list of democratic candidates. campaigns on redistributing wealth in america. morris what do you make of mayor a promise? >> i have been on woo wall stret for many years, saying that wealth is in the wrong hand ises ridiculous, we have capitalism, that is the best system ever invented for building huge quantities of wealth. investors and banks and telecoms also. >> this cot scott, i agree with

mayor. he is right, men is i money is e wrong hands, in the government's hand. gary: scott, scott, hold on, president trump arrives at jfk international. in new york city. tonight he will attend a round table with supporters and a fundraising dinner. >> i said -- with respect to wealth in wrong hands the government is taking it from right hands and giving it to themselves, therefore misspending money, your opinion on why biggest cities in united states, they highest tax state and tax cities, out there, don't they get to picture that does not work. >> it does work, new york -- and california they go to build businesses that is where everyone moves to. >> amazon? >> that is why we have growing real estate prices here in new york.

new york, i have an office in shadows of flat iron building, that is where people are building new companies. >> new york lost more people last year. >> so did chicago. >> than any other state in the country because partly because mayor de blasio made it almost impossible for small business to survive and thrive. same here. >> he has been a disaster in terms of public housing we've seen the number of homeless people on street soar, there is a good reason that 78% of new york people do not think he is run. >> you call him the mayor, i'm not sure he shows up enough to work. if -- if there is anywhere he would be popular right now, it would be here in networ new yor, she not. >> look the mayor -- >> he is the mayor, he has done certain things, he was elected. >> by 17% of the population.

>> >> are morris, patriotic millionaires, if i right, you are advocating for higher taxes on millionaires to spread the we'll more that is what bill de blasio is saying. >> more progressive tax system for everyone for very wealthiest to pay at least same tax rate if not more for those who work for a living, problem that wealthy investors like me pay much lower tax rates then people like you. you. >> i am a we'll - we'll -- if y. if you want to give more of wealth, you have earned to government, why not do that vol tear -- voluntarily? why not give more? >> i'm not saying that each -- i

want to give more personally, i don't like paying tax. i want wealthy people to pay their fair share, including myself, those with more wealth. >> hold on. >> why not just do it voluntarily? is there a number that you think that wealthy should pay. >> wealthy people should not have lower tax rates than working people. >>o much so much of their income coming from dividends, and investment games, as you know, it has been done to attract investment and so forth, you say the system is wrong. >> yeah, our country became greatest country in world with that are higher tax rate we have now investments, they have huge

businesses with tax rate 70%. >> hard to argue your point, difference between have and have-nots in america has rarely been this wide, last big thing we did was make it wider by giving the tax break to wealthy but now paying -- >> we have to go. a sneaking sneaking suspect shol talk with this a lot more. thank you so much. >> chicago is now first city successfully taxed streaming services, many fear it will not be last to consider the netflix tax, more details coming next on "bulls and bears." fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions

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them there, i have got gasoline taxes to pay. if we stop at walgreen's to get snacks we have bag taxes to pay. oh the amusement tax they tag on to the movie ticket. it is not fun to talk about and something we will see sweep the country once they see how much money they are bringing off people. >> how much netflix are you and jonathan watching out there in chicago? is it "friends" rerun? [laughter] >> they put a whole separate tax on netflix out there, and what i wonder for these policymakers is why not just put this thing under the regular old sales tax? usually you save a special tax for something that you think is evil, like if you think cigarettes are evil. >> we've got a high sales tax too. we've got a huge sales tax too. >> highest in the country. >> they will find anything, every event of life, they are going to find another way to tax. it's a hidden tax. it should be offensive to anyone, this notion that whatever you do, government can swoop in, we're going o tax it. when you talk about a free

society, you are talking about freedom from government. ultimately people move with their feet. what you are seeing any of these high tax locations, people, you know, with the exception of the uber wealthy clearly have to get out of town. they can't afford to live here anymore. >> so many blue cities basically have this constant quest for new taxes, whether it's soda taxes, bag taxes, whatever, and it really does come down to the sort of impossible economic problems that they've created by paying municipal unions too much, making too many promises down the road and basically backing out all other public services which now are falling apart. bill de blasio wants to be viewed as a ceo? in any other sphere he would be fired because he has not managed this city well. >> real quickly, 30 seconds, jonath jonathan, is there any chicago that's not taxed just yet? >> what they haven't done is cut spending, and that is going to come back and haunt every location, whether it's

municipal 'tis or federal government. >> i'm waiting for the breathing tax. >> handsome tax, thank you, jack, love your movies buddy. >> good luck with that city. that does it for bulls & bears. thank you for joining us. ♪ >> and therefore some reason, possibly political, we can't get the democrats to approve this merit-based high-security plan, then we will get approved immediately after the election when we take back the house, keep the senate and of course the presidency. elizabeth: this was quick. we have some off based attacks now pouring in from the democrats and media against the president's new immigration plan which was just unveiled today. pelosi not just calling it quote condescending, she now says it is quote dead on va