illegally. lauren: we video an epidemic, dr. siegel thank you. connell: thank you lauren for joining us, we appreciate it when lauren hangs out with us. lauren: he really means this. connell: "bulls and bears" starts right now. david: 2020 hopeful, democrat socialist bernie sanders taking his first direct shot at elizabeth warren today. slamming her as quote, a capitalist. as he tries to further separate himself as only candidate who'll take on what he calls corporate greed. this is "bulls and bears," i am david asman. joining me, jonathan hoenig. christina, steve moore and gary kaltbaum. one day before the fourth democrat debate, bernie sanders trying to draw a contrast between himself and elizabeth warren, listen. >> there are differences between elizabeth and myself, she has said she is a capitalist, i am

not, i believe i am only candidate who the say to corporate elite, enough with your greed and your corruption. david: gary, is demonizing capitalism going to resonate with voters. >> it has worked so well in caracas so let's do it here. if elizabeth warren is a capitalist, i'm the point guard for the knicks, we then get bernie sanders calling himself a democratic socialist, but there nothing democratic about being socialist this is all aother a, authoritarian, this is amazing to watch, we have a system brought provepity poverty in ri, people who started at walmart at cash register are now managers making a hundred thousand a year, these people they just hate wealth and success, they

spend their days putting it down as corrupt. it their biggest enemy, it willl not sell, trump has to be laughing. >> i agree america is built on capitalism but it seems to resonate there is a major divide with wealth and inequality, polls have showed over past several decade, you pitch taxing wealth that's resonates well, a gallup poll in april 62% of people say upper income individuals pay too little in taxes, sander website he released more details, this could be a big hit for corporate america, he tops increase corporate tax rate to 45 -- 35% and call large scale stock buybacks to be treated like stock manipulation. i think sanders would be more of concern, and warren more of a capitalist. david: sanders is separating

himself from warren and everyone else with taxes. economists out of university of california say under his plannism billionaires would pay tax rate up to 97.5%. tax rate includes income tax, but so-called wealth tax that widdles away the family fortune by sco confiscating a percent of asset of which taxes have already been paid, we're bring in our guest morris, do you support these. >> i support billionaires having a wealth tax like middle tax americans. had wealth taxes for years. david: it billion and million airs. >> we think that being rich is great, we're capitalists, we

could that everyone should be rich and be a millionaire, but we think they should pay taxes at same rate as americans do. >> morris, we have talked many times over the years, i call them hypocritical millionaires, on bottom of tax form, you can pay more taxes if you want to, virtually, none of your members have done that, if that i want to pay more taxes, why do they not just do it? >> steve, not that i personally want to pay more taxes, a don't like paying taxes more than anyone else does, maybe more than you. but i believe we all have to pay our fair share, we need a system where everyone contributes not where it is voltaire. >> we have a military system, where people -- patriotic americans, they vo voluntarily n up for military, if the people

want to be patriotic, why do they not pay more taxes. >> the point of pays taxes so we have a system where those people more able to pay, pay more, if we had a system where everyone paid voluntarily that would not work. we would pay for someone to put on metropolitan use museum of art but not for the sewer systems and schools. we spend plenty of money on patriotic activities and charities, just like you. but we believe we need a fair tax system in the country, we can't have a system -- -- >> do you want to get in. >> i don't know what is fair about taking money that people earned and redistributing to there arother people, you are ag more government force taxation, is the way that some taxes are spent under republican and

democratic dan administration ds that not concern you a little bit. the more we tax? >> what we're concerned about is fact that some of the richest people have lower tax rates than regular working americans, that is not fair, we think we need money in hands of working americans who will spend it. not billionaires who will just make their portfolios that much larger. david: morris, the 15 european nations that tried to out, and dumped it, capital moves when you over tax or when capital feel its being over tacked, when benefits don't out weigh the aim of money to way pay they just leave, we have seen i here and n 15 european nations.

>> a huge number of our wealthiest americans, did not ever pay tax on that money, they inherited money from their parents, people sam walton. or the mars family that built huge fortunes, never paid taxes. because it all been unrealized capital gains. david: but when kee wealth tax d in 15 european nations it failed, capital moved out, they made less money, will it not fail here as well. >> no, i don't believe that people of move out of most vibrant, successful country in the world because of that. >> morris -- morris. >> deduction changes, you see this migration of wealth people leaving the cities, moving to florida where gary used to be. >> the people who move based on taxes, they moved out of new york, generations ago. >> we have like one anchor in our network who remains nameless, who purposely left,

now lives in a big home outside of the city. >> that is probably appropriate for fox anchors. >> woe. woe. >> hey, woe. >> how many people do you represent, you are called patriarch millionaire how many people are part of your group. >> a few hundred. >> they make a million. >> half a million. >> go ahead. >> morris, i want to ask about other side of trade, you are asking for people to pea to payn taxes to a government that is 22.5 trillion in debt, a government that told us 800 billion dollar stimulus would go to infrastructure, they did not do it to possibly a bernie sanders or elizabeth warren to allocate that capital when there is nothing in their resume that shows they will be a to allocate to correctly, you came from black loc lock that would never allocate money unknowingly why would you want to give more

money to a entity that is very inefficient and ineffective. >> we're advocates changes tax system in the country so rich pay more instead of poor, opposite of 2017 tax cut bail, that put more money to rich people who don't spend it did bt get richer and richer. david: they don't spend it they invest it, what is wrong with investing? nothing, but we think investors should pay same tax rate, not have lower tax rates than people who work for a living. >> why not propose closing loopholes instead. >> we proposed that too. david: close loopholes, get a flat tax, morris, thank you very much. i don't mean to put words in your mouth, trump announcing. that new plans to punish turkey as the country continues its attack on the kurds in syria, we're on ground in syria for the

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with all of those zeros, there are zero reasons to invest anywhere else. fidelity. ♪ so maybe i'll win ♪ saved by zero david: president trump announcing tough new act against turkey, very latest, but first steve harrigan is in northeastern syria with the latest on the group there. i'm afraid -- contacting sorry. you can imagine contacting steve in syria is not an easy thing to do, we'll go back to this issue, president trump this afternoon announcing new action on turkey, president saying he will soon impose new sanctions, hike steel tariffs and stop negotiating a u.s.-turkey trade deal, here is former lieutenant color i -- col

in u.s. army,. >> this is right thing to do. the u.s. did not green light this operation, the turks have been wants to do this for years, u.s. said don't do it, u.s. said you will be held accountable. then i think that u.s. has to take a stand. the way that turks feel it most acutely, the biggest arrow in our quiver is the sanctions. >> james, steve moore, i'm a libertarian with foreign policy, i do agree with a lot of trumpers who say, we should not be world's police. on the other hand, we want to fight the war on terrorism and win it.

how would someone -- help someone like myself understand what right course of action is in syria at-this-point. >> to be clear. the u.s. has a couple hundred soldiers there, they were not going to stop the turkish incursion. did is unrealistic to think that u.s. will get in middle of the shooting that makes no sense. you go to our interests, we don't want a caliphate, president took the caliphate down. we don't want to a platform for attacking iran, we don't want masses of refugees spilling out. we have stopped that. so i think that question for president how dow deal one with turkish incursion, which destabilizing, you have a very limit the force, limited capability, what is boast best t laying of that, and -- ou utilig

of that, so that is a lot to weigh in on, i think we've been unfair of cutting and running the president, i think he is trying to figure out. i think jjust as things develop is right. i think that sanction are strong. i think we should focus on the mission rather than talk about -- >> jim, we're focusing on the issue, you had obama and trump express their urge to withdraw from the region. the president has done, i feel like we're getting mixed messages. with hard, softball with iran, and leaving afghanistan and not leaving afghanistan, now essentially abandoning th the kurds, i am confused with mixed messages with from the middle east. >> nobody is a fan of isis.

the ypg partnered with us because isis of killing them. no one likes isis. people may be squawk eling with each other no one has an interest in seeing the caliphate come back, and u.s. stills that forces there, and we have ct operation in region that is a mission we can continue to do. >> good afternoon, president announced increase tariffs on import of turkish steel. has not have an impact in terms of tariffs on chinese, do you think that latest announcement would do anything to dissuade what turkey is doing in middle east right now. >> no, i don't, people say that president green lighted this, you have to realize, to do an incursion like that, this is thousands of soldiers, long preparation, not like the president said, go ahead, and turks said, let's invade

tomorrow, they have been planning this for a long time, they crossed a rubicon this is a chancey operation for them, i think they are committed, erdogan has defied us before, i think he will again, we can't stand by if he is doing things that makes syria worse than say fine. david: quickly, you say nobody supports isis. done turkey -- didn't turkey empower isis, we know erdogan's son was involved in selling isis soil, if turkey is in control of that area, they may empower isis. >> i think that is unlikely, turks are interested in driving out the pkk, and create a space for syrian refugees to go home, they are interested in a lot of things, but establishing a platform for isis too rebuild their caliphate, as islamist as this government and i don't

think they are interested in that either. david: you this very much. we have reestablished contact with steve harrigan, sh he there now with latest. reporter: what good afternoon as military operation -- what began as military operation, what you evolved to something bigger more dangerous, a war between turkey a nato member and syria, a country backed by russia. kurdish officials wasted little time in finding a new partner after withdrawal of u.s. forces, they describe as a stab in the back. syrian government troops under assad reached front lines within hours of deal, welcome sight to many kurds on ground. >> thank god for the return of the army, of the syrian arab army. reporter: fighting is brutal, ar aral -- militia backed by turkey accused of atrocities, pulling a

female political leader from her car and shooting her in the he head. dozens of civilian on both sides of border have been killed by mortar shells exploiting into homes, there is a rage here amongst civilian that no one is doing anything to save them had. several world leaders have warn that conflict could lead t to resurgences of an islamic state in the region had. family members in syria, over past three days, two mass escapes have been attempted. more than 130,000 people are now on the move. trying to get away from fighting. that number has grown each day. david. david: all right steve harrigan thank you very much. >> new concerns as china's warning to keep the champagne on ice. until both presidents put pen to paper phase one of trade deal, are we heading in the right direct? more on that coming.

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>> we'll do what we need to do to get this concluded. we'll meet with the vice premier in chile before the presidenty meet, if we need to have in person meetings, more in person meetings we'll do that. david: optimism from treasury secretary steve mnuchin who is confident that phase one in u.s.-china trade deal will be signed. china now says they want more talks before signing ochinese signaling they would like u.s. to scrap tariff hikes scheduled for december.

but should we be optimistic that real progress has been made. >> i'm not. i don't think it is phase one, i think it phase 14, we've been talking about it for 16 or 18 months now. i really do think we're almost at the beginning again. some of the words that come out of mnuchin's mouth and president's mouth are the same words we heard 6 months, 9 months, 12 months ago, i believe china is not giving in so easily to some big stuff. that the president thinks they will give in to. i am not thrilled. we come back from the weekend, we hear china already changes their stance. >> yeah that is it. friday president tweeted it of the greatest biggest deal in history! then you know monday it is well, china is not actually on board yet. it is yet another bailout for farmers, farmer bailout 3.0, no

difference on any of the main issues that put --s that put front and center, have you trillions of dollars that are waiting on sideline to figure out what the president wants in a trade deal. >> you are right to be somewhat skeptical. but i think one thing has changed that china's economy has been hammered, they are headed to a recession if trump does not back down. when that gets beijing to agree and stick to them, i don't know for sure. >> any movement on that steve, have you seen any movement from beijing over the last year and a half. >> well, they -- look, what happens -- they had a handshake deal. on friday. then look, you are right this would not be first time that they retreat, and go back to

their word, but i think so much in both country's interest to get at least phase one done, you are right, johnathon, it is a great deal for america? no. it is a decent deal. but in the end of the day, if this deal gets signed, sealed and delivered that would be a big boom for stock market. >> nah . >> i have two ton point to your comment, the economy is suffering prior -- this. you call a decent deal, agriculture buys we're seeing match or less than levels of 2016. it is an improvement compared to past few years but not what we need, there no mention of huawei in the list. the problem we're seeing across board they are not moving back, they are not taking away the tariff we have put on from either side, if we talk about

both country, presidents had to focus on impeachment, china focus on hong kong, i am more skeptical that nothing will happen. happen. david: the thing that trumps everything is trump's reelection. >> bingo. david: he knows how important market, economy is to his winning a reelection. i don't think that even gary, you are pessimistic, you don't think he lost sight of that as his goal, if so, we would figure out a deal. >> i am certain because of the election, if markets starts to gurgo underwater and the econom, that something will get done, but there is over promising and under delivering, i'm not sure that markets would be thrilled with a bit and pieces of some of the things he has been talking about. he has been going talking about whole enchilada over last year, now we're not getting and lettuce or cheese. i'll keep my finger crossed but

nothing done. >> a truce that would be what it is a truce? >> a truce. >> not even signed that is the point we talk about the deal. >> no. >> it is not signed. and fact that president pulling the same politics with nation's economy we chasstized obama about. waits to figure out what our play tonic over lords. david: this president has been what no president before has done taken china to task in a serious way about their theft of intellectual property, in violation of things they signed off on in wto . >> look, i agree with that, the intellectual property. by the way that is hardest thing to enforce, i have talked to our trade negotiator, i saw president trump in oval office last week be we talked about china, he doesn't to get a deal, he doesn't import -- does

understand. but he will not be a pansy, not cave in to nothing. he has to get something -- i think this deal is a step in the right direct shup, i thin direc. david: like the play, waiting for gudo. >> joe biden saying he will ban family from foreign -- if he is elected. >> no one has asserted my son did a single thing wrong, no one has asserted that i have done any wrong, except the lying president.

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>> the statement my son put out today, which i saw when he put it out. i was told there was one being put out, i did not consult. in fact it represents the kind of man of integrity he is. i can tell you now, if i am your next president, i will build on squeaky clean transparent environment we had in the obama-ed b widen white house -- no one will be involved in foreign operation. david: in is hunter biden

announcing he is stepping down from board of a chinese company, 2020 hopeful rolling out a new ain't corruption plan -- ain't anticorruption plan, saying he will ban family and associates from any foreign operation, it will not be okay he is president, so why was it okay when he was vice president. >> that is a really good question, there was plenty cronyism and corruption during obama administration, it always exists when government gets involved with business, regulates business and funding business, think this corruption in medicare and tarp. it is unseemly that children of president, children of vice presidents are involved in dealing with foreign governments. i think true is bidens and trumps, it unseemly as children of president and vice presidents. >> capital s wanp .

-- swamp, is what you see from the son, not just one party but both parties, i have been reading and writing about this for ager, peter sh schweizer wre a book years ago, throw them out, how they make coin off of all kinds of deals, that nobody hears of unless they are investigates, thank you joe biden for realizing someone was wrong, but where the heck when you when you wer vice presidentd all this crap of going on. >> to vice president, no offense to those who were vice president, how could they sway and create the ethics policies, that is question that david asked. really, could he have changed things, to your points biden there -- there is no proof about his son, give him the benefit of the doubt --

>> proof of? >> the links, how much of monetary amount that supposedly. >> don't -- david: 50,000 dollars a month at least that much from the gas company in ukraine. >> to continue on that point, he has raise a few interesting points, the banning lobbying from foreign governments that should be a policy in america -- i think it is great thing no prob vaprivate dollar with fedel election. >> i like that reform there but the problem for him, it is closing the barn door after the cows have left. come on, he has already violated principles of that ethic complaint, i think he is wrong messenger for it. >> you know how you stop it, you as vice president, you call your son to office, and sit down with barack obama and say now, no, is not happening get a job, that is how you stop something like

that. >> he come, ir ivanka trump wath her run in 8 or 12 years from now, his family, is in white house. >> that happened we had these political dynasties fo generati, and kee kennedys. >> it should be a rule. >> it make a difference when it government can control business. should note be case here in u.s., separate of government and business. david: we have to leave it. we remember that tape of vice president biden, saying i demand this guy get fired, the guy who was investigating his son, he got fired. >> elizabeth warren releasing a campaign ad on facebook that includes false information, she did it on purpose, details on why and the facebook fallout coming next. [ orchestral music playing ]

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david: elizabeth warren taking her feud with facebook to a new level, campaign submitting to facebook a political ad with a false claim that facebook ceo zuckerberg endorsed president trump with a picture of two shaking hands, she knew it was fall, saying that facebook chose to approve the ad despite obviously false claim that proves that company is choosing profit identify protecting democracy. that is what she said, social media giant responds with statement to "bulls and bears," facebook believes political speech should be protected. senator warren wants to say thing she knows to be true, we believe facebook should not be in position of censoring that speech, should facebook do more to stop the spread of misinformation or, does it have a point about not wanting to censor the free speech. >> facebook used argument that ad was portrayed on tv stations

as well, if the tv stations did not remove it. why should they have to do it. that raises a big question, where does fee facebook stand, a media company, if it follows through do we want a media company to censor whatever we're hearing. david: they can if they want. >> do we want that? are we well informed citizens of state to be able to determine and do due diligence to find out if that information is false or not, most often it is no. >> you know, one time i saw dick gephardt after he dropped out of presidential race, i asked him what happened, he said, that one candidates run ads of him put his arms around george bush yeush that killegeorge w. bush,t zuckerberg who is one of the most liberal ceos in fortune top 100.

his basically said, she is too liberal for him, that is a big problem for her. >> is it fascinating how easy it is for elizabeth warren to lie, forget the native american thing, it comes second nature to her, it is not illegal to lie, not illegal tolish fake -- publish fake news, the en quirey. what did does do it destroys their cre credibility. elizabeth warren destroyed her own with all of her lying, she makes facebook the enemy this is a company with 2 billion volunteer uses to get a value out of the service, she is spreading misinformation calling then the enemy. >> gary. >> poor mark zuckerberg, probably on two bo bottles of vallum every week, how much

social media platforms are there? several zillion, there no way of covering this, you know it is called free speech, people out there that will be bs, they will be out there with misinformation and saying be wrong. this is silly, leave it alone, and you know facebook i am sure is doing what they can, there is so much you can do with 2 million. david: you say politicians put out misinformation in a little bittal campaign. >> never,. david: i am shocked. >> before we head to break, what is coming up on "evening edit," liz mack donald is back. >> my glasses almost fell off. here is, trump administration slamming turkey, cancels 100 billion worth of trade talks there. cranking up sanctions on current and former turkish officials, new plans to crank back up steel tariffs on turkey to 50%, big

one not drop yet by trump administration, we'll tell you what it is, and president said he is fully prepared to swiftly destroy turkey's economy, if turkish leaders continue down that dangerous path. in syria, we have britain stepping up, here is the question, where is the rest of europe. amid accusation. we have a jam-packed show. david: all great subjects, but greatest subject is one right now, good to have you back liz. >> uawgm strike entering 50 week with no end in sight, who is that strike really hurts most? as a struggling actor,

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david: battle between general motors and the uaw entering

fifth week. fox business grady has been following story for us. reporter: two sides are still talking behind closed-doors in detroit. it does not seem like much progress has been made. the uaw put forward an offer to general motors on friday, we do not know if they have responded. we do know that bills are piling up for striking workers. we're talking mortgage, rent, car payment, and insurance. these are actually postal workers, who have columbus day off, they came out to u support the uwa workers, we've been focusing on who has been losing more, we told you 1 billion what general motors lost since the start of the strike in last

profits, on worker side 664 million in wages, a buck is more to the worker than it does to a multi-billionion dollar corporation, some analyst say that general motors may be able to recoop and profits and earnings it missed. there is a lot av stake as strike drags on to week 5, bottom bottogeneral motors tryip cost down, per worker about 63 bucks, you factor in hourly wages and benefits, lower for the foreign automakers, another thing, we've been talking about the cost to company, cost to workers, and suppliers and dealerships, one thing is the cost to government. the government has not been receiving income tax from the workers because they have not been receiving their income. this strike costs government analysts say millions of dollars as well. back to you. david: all right grady thank

you. >> gary, how far is the strike going? >> i have to tell you, after three days, it started, i would it would end after a week, i'm thinking money will talk, but it looks like they are stuck -- they are at worst position since they started. everyone has their feet in cement. there are no winners on this from suppliers to workers and gm, every day matters. they will not have cars going to inventory if that lasts another 3 weeks, that is rough going forward. >> even if you are a trump hater, you have to admit job market good, if some workers can get another job, that pays more they should get it the ice at gm is melting, the stock is where it was in 2010, it trades p/e ratio of 5, market share under uaw, fallen to barely 17% from

over 45 a few decades ago, uaw hasbun gm into the ground, that is why foreign compete ors can produce cars for less. >> that why so many auto company move to right-to-work states, we're not losing auto jobs, we're losing them in states that have forced unionism, there is a problem when the unions try to bring companies they work for, to their knees, who benefits from that? >> 63 dollars an hour in terms of benefits, that 100,000 a year in salary, that is a pretty good salary in america. >> to all your points. this is costing gm about 1 billion so far, we know that the strikes -- actual fund they have to pay striker has gone to 275 dollars a week. but this is really an example how we move toward electric vehicles that is what mary barra

said, we're fueling on innovation, we can't get angry with fact that company wants to move on. if i were a worker i would be upset that the ceo took that long to meet with reps. >> i would be upset with union management too. >> they are picketing gm dealerships, that does not make sense they are neutral. top fire up your early retirement goal, an aggressive saving plan for millennial, heating up, claim its could do, that some wonder if they will just get burned in the end, we have details on that, and unique retirement investing advice from our own panel here. driverless cars,

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david: personal finance thing, called fire, that is short for financial independence retire early. followers of fire movement invest to 75 percent of their annual income, cut down on their expenses and retire once they saved 25 to 40 times their annual expenses, depending on their age, some have reportedly managed to retire as early as 30, is this a good strategy, what is better advice? >> well, saving is a great value, that should be encouraged but retiring is lute cruis -- ls

at that young age, you are 90% more likely to die early at 55 as opposed to 65. >> you don't understand, these kids are working at 26 and retire age 30, we're all go to work until we're 80. >> my best advice, treat every dollar like it counts, a book in 1996, millionaire next door people who made 50 grand a year, they ended up millionaire. and others who were broke because of how they treated their dollars. >> i'm not seeing millennials do this, it should not be a hate on younger thing, this strategy will not work, in past. 2009 to 12, a great period to invest in risky stocks, going forward you can't make as much as a game, i am not -- of a

gain, but saving like jonathan said always is good, with rising student debt. david: and jonathan, money is not as important as a purpose in life. and you get part of that purpose from work. >> and from watching us. >> "bulls and bears" thank you. elizabeth: breaking news, vice president talking now about how trump white house is taking the fight to turkey. >> as you know last week the president announced that there would be sanctions fort coming if turkey moved forward with the actions, last friday i briefed you on the specifics of the authorities, today the president signed those authorities and instructed me to put them into action. effective immediately we antioned minister, minister of defense, of interior and energy. we are also sand