the bulls and bears this week, gary smith, john layfield, here with everybody. >> scare tactics getting in the way, especially when it comes to spending. and you can reform entitlements, slow the growth of government spending, just the growth rate in government spending below growth in the private sector, on our way to balancing the budget so we got to get beyond these scare tactics and stop talking like the sky is falling. dagen: what do you think of these scare tactics? democrats full of you fill in the blank? >> i tell you what. i admire the democrats, they have always had a very strong brand. part of their brand is wheeling out the people that are going to be deprived of money or trotting out firefighters who are defunded. it is a great strategy, it has worked for years and years. regardless what you think about cutting some of the funding like meals on wheels which is a great cause but of that is only a fraction of the total meals on wheels budget most of which comes from donations and private citizens. the point is we are out of money. in a few years alone just the interest paymen

money guy john layfield is with us now. , look, at any point in the near future would you consider buying snap shares? >> no. it's ten time over subscribed, you've got a company that's been hemorrhaging money since they started and evan spiegel is a brilliant guy, congratulations for the successful ipo. i think the run-up is going to occur before the retail investor can get in and i'm not going to go into any company that has to compete directly with facebook. stuart: snap priced at $17 a share valued the company at 24 billion. massive wealth creation, very few jobs. what say you? >> how is massive wealth creation is problem? this is great. all of this wealth that gets created can get reinvested into new businesses that hire new employees. this is a capitalist's dream. create a lot of wealth with as few resources as possible. you could argue that snap is overvalued and not going to create as much wealth as they're talking about. that's how workers get paid more in the long-term. >> that's assuming they get paid more. >> that

here this week the boules and bears, gary smith, john layfield and chuck roach, thanks, the gop healthcare bill>> we have seen t of obamacare on the economy and jobs is downplayed under the administration. there was little gdp growth and that was tied directly to obamacare. we are seeing small businesses talk about how they are excited about regulation and taxes and mandates such as 150 employees come you have to provide health insurance to your employees, they weren't hiring so don't want to go over certain thresholds laid out in the obamacare legislation so they are positive about it. small business owners say this is one of the biggest wet blankets on the economy and they look forward to it being gone. arthel: the employer mandate encouraged companies to not hire full-time workers, it encouraged companies to hire part-time workers to avoid that 50 employee threshold. >> by that logic there would be no more coverage by employers at all. anytime an employer by self-insurance you slow down hiring, that is already -- that said some of these changes will improve the job market because there

stuart: john layfield, is this the second leg of the rally? >> i agree with scott. time interest rates raised was in 2004, the first two months the market was down, it was up 35% over the next two years, just because you have a rising interest rate environment doesn't necessarily mean the market is going down. i think that scott is right about the economy turning around, this is a valid sign of that. the biggest thing on the table, corporate tax reform we're promised by labor day, if we get that, the market definitely goes up. stuart: ever since november 8th, most of the people who have appeared on the program said, yes, this is a solid rally, it's going to keep going up. the market wants to go up. liz, are you in agreement with that or are you going to throw some cold water. liz: i think it could turn around. stuart: wait a minute, what did you say. liz: i think that it could turn around if the trump administration gets distracted by the wiretapping stuff and doesn't get the agenda through. watch both the s&p gone without a 1% decline the longest since 1995. stuart

here this week the boules and bears, gary smith, john layfield

john layfield, what do you think of that?the market is betting on and that is what the market has been betting on since president trump was elected. the one big caveat whether the trump administration or republicans got mired in travel bans and obamacare and not get to tax reform. certainly market believes we'll see tax reform this year. neil: later in that same interview, john, jack welch talked about the fact they might only get the corporate tax reform, they might only get the corporate rate down and might have to weight on individual rates. my view that would be a disappointment. he said it would still be a victory and a w, referring to a win here, what do you make of that? >> i think it would be a huge victory. last time we saw corporate tax reform was 1986 with president reagan. gdp went from 3.5 to 4.2% next year. if you get the corporate tax reform -- neildid we marry that with individual rates at time? >> yes we did, to answer your question, but that was biggest corporate tax reform we had ever seen. i think that had

and john layfield at the stock exchange.t to begin with how the markets are playing this healthcare soap opera playing out, it might go the president's way and republicans way, is that keeping the role here? >> there watching this, they are very in tune with this. with that we watched the market and representative frank on your network right now, on with you saying the freedom caucus and moderates were talking, bringing optimistic ideas about the bill, they are circulating paul ryan across the white house so what is going on? they are getting jittery. they feel optimistic about president trump, and what happens to the tax cuts etc. etc.. neil: some of the folks in the market don't really care, i say to explain it this way, they like what president trump said, we will get to the tax cuts, great if this passes and we move on to the tax cuts, people -- congress can or can't ing's, easier said than done. even if this goes up in flames. >> exactly right. there are two underpinnings in the market in the last six weeks, tax form, p

here this week the boules and bears, gary smith, john layfield

i want to bring in john la layfield joining us from sunny bermuda, as we always say.ment given the deep that we see this monday and the dip that we saw all of last week? >> no. i don't think it is. the market is richly valued right now. if you don't get the corporate tax reform and there's only way to characterize this. this was a disaster for the republicans, and i think now it puts in peril this corporate tax reform, which is bipartisan, by the way. but to get a tax reform, you're going to have to get a whole lot of other things that go with it, and that puts it all in peril right now because the administration and the republicans were hit hard this past week. . stuart: now, we asked you which stocks would you be buying right now? and you come up with a list of three. and all of them pay big dividends. so you're recommending a david play. let's put them on the screen and go through each one, please, john. >> yeah. two are content plays. verizon and at&t. and that's all about mobile content. they both yield about 4.7% yield. and then you go to bp, which has a 7% yiel