back we are back for more now with treasury secretary steven mnuchin and secretary mnuchin you've been that your priority with this tax bill and this reform package is about job creation and it is about growth and you believe that we will see growth as a result of cutting taxes and that will help pay for the plan. is the idea of being revenue neutral or deficit neutral off the table at this point? >> secretary: maria not at all. the math is very simple. we have a trillion and a half dollars that will be in the reconciliation. there's 500 billion that's the difference between policy and baseline, and we think that we should be scoring this to policy , so that takes the number down to a trillion dollars negative. we think there's $2 trillion of growth that will take this to a trillion dollars positive and if you don't believe in our growth and you believe in half the growth, it will be revenue neutral, so those are the simple numbers. kevin at the cea is working both internally and with a bunch of economists and once we come out with all of the details of the plan, it will be fully score

steven mnuchin was pretty confident he will get the votes your thoughts? a little overly optimistic. i think there's a long ways to go and they haven't been very good at counting votes so far and they have a hard battle ahead. >> maria: hard battle ahead? >> i'm concerned because when we talk about removing deductions on the wealthiest you'll get conservatives who say this is not a typical conservative bill so he might lose republicans and that's a big concern and when he has many democrat democrats i don't know who they are maybe one or two. >> maria: well there's donnelly, heitkamp, there's minnesota chin >> but none publicly said i'll support the president. i think if they were they would be out talking about it. >> maria: if they don't, aren't their states, their states were won by president trump. >> it doesn't matter i've done this for 50 years. there's no guarantee because a presidential campaign wins it the senator can go different. >> maria: sounds like you're skeptical of the tax reform? >> i think they have a lot further way to go than the treas

not having one, not a great idea. >> listen, we know what the full mnuchin is and steve mnuchin does not like to speak out against the president. last week with sean hannity when trump was touting the stock market gains and said the stock market gains have wiped out the national debt, i mean you and i both know that is an absolute lie. >> that's not the way it works. >> did mnuchin try to touch those topics? >> no. he is a staunch defender of the president. i pressed him on the puerto rico tweets and he tried to defend those. and some other issues. we didn't get into that topic specifically, but obviously the president has a complete misunderstanding of what stock market increases do to the national debt and deficit, which is nothing. although eventually if you have capital gains taxes, maybe you have some impact on the debt and the deficit. but just because you've run up in the stock market doesn't mean you've done anything with the national debt. >> only 52% of americans actually own any stocks and 20% of the richest households own 90% of those. so a large portion of this country,

secretary mnuchin said he needed to inspect the gold at fort knox. okay. well, now, thanks to a new report from the treasury inspector general, we know what it cost the taxpayers for steve mnuchin to take that trip specifically on a military jet. taxpayers paid $27,000 just for his flight that day. and now we know why steve mnuchin couldn't fly commercial that day to go inspect the gold. why he needed taxpayers to fork out $27,000 for him and his bride to make the trip on a military jet. according to the travel request we can see in the inspector general report, steve mnuchin demanded he have a military jet for that trip quote in the event that the secretary's participation on a call during travel arises. so he asked for a military jet because at some point during that trip, there was the possibility he might want to make a phone call. or maybe somebody would want to call him. he's very important. it could happen. people call him. so that was in august. in june we now know that secretary mnuchin used a military jet to fly himself from washington d.c. to mi

mnuchin traveled by government jet.many of his flights were actually by private jet. so similar problem. but just technically a different mechanism was used. >> right. no. i mentioned in the set-up of the discussion a lot of this was military jets and why again when you see a former treasury official say i never did, not once in the entire ten you to do that. for the obvious reason with all due respect to the important role that the treasury secretary plays over the capital markets, he can be in the air for an hour or two and pick up phone calls when he lands. he is not the president. >> correct. >> kathleen clark, thank you for your ethic accumen. >> thank you. >>> more questions than answers for fbi investigators on this important case, what do authorities know about the las vegas shooter's motive? latest on that story coming up. i'm all about my bed. this where's gary? 'saved money on motorcycle insurance with geico. goin' up the country. later, gary' i have a motorcycle! wonderful. ♪ ♪ i'm goin' up the country, baby

more of my interview with secretary of the treasury stephen mnuchin. and we have the crown prince of saudi arabia. we'll be right back. >> announcer: innovation in saudi arabia. his royal highness is taking his country further into the future with a mega city. and it's putting billions of dollars to work in the u.s. through a black stone infrastructure fund. all of that and more when "wall all of that and more when "wall street week" returns. by listening to an thiaudiobook on audible.ame and this guy is just trying to get through the day. this guy feels like he can take on anything. this guy isn't sure he can take it anymore. unwavering self-confidence. stuck in a 4-door sedan of sadness. upgrade your commute. ride with audible. dial star star audible on your smartphone to start listening today. maria: welcome back to "wall street week." i'm coming to you from the future investment initiative in riyadh, saudi arabia. the youth is teaming up with the saudis to combat terrorism it's one of stephen mnuchin's biggest priorities. >> we opened the terrorist

more of my interview with secretary of the treasury stephen mnuchin. and we have the crown prince of saudi arabia. we'll be right back. >> announcer: innovation in saudi arabia. his royal highness is taking his country further into the future with a mega city. and it's putting billions of dollars to work in the u.s. through a black stone infrastructure fund. all of that and more when "wall street week" returns. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone ♪ can i kick it? ♪ to all the people who can quest like a tribe does... ♪ money managers are pretty much the same. all 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 other money managers. fisher investments. clearl

treasury secretary steve mnuchin is pushing for powell. mike pence likes taylor.reet thinks powell is the most logical. it's look at 3203. throughre predictive thursday. you can see mr. powell is in the lead, warsh and yellen have gone down. taylor is down, as well. i can't help but think that after trump has mentioned, when we get the latest results from the betting websites, we will see he has moved up a bit. taylor is sparking a bigger bond selloff in howell. it would be saying a 10 point drop in yields if taylor gets chosen rather than jay powell. haidi: we talked about john taylor widely perceived as the most hawkish candidate, is this a good enough reason to not give him the job? kathleen: that's what everybody is suggesting. there was a terrific story about this on the bloomberg this weekend, look at it. they pointed out that given he has talked about fed policy, he might have to make a hard pivot. you, 917.er chart for it is the taylor rule that makes people say this. at unemployment and inflation, he says the fun rate should be at 3.75. slightly different

more of my interview with secretary of the treasury stephen mnuchin. and we have the crown prince of saudi arabia. we'll be right back. >> announcer: innovation in saudi arabia. his royal highness is taking his country further into the future with a mega city. and it's putting billions of dollars to work in the u.s. through a black stone infrastructure fund. all of that and more when "wall street week" returns. here's to the heroes -- america's small business owners. and here's to the heroes behind the heroes, who use their expertise to keep those businesses covered. and here's to the heroes behind the heroes behind the heroes, who brought us delicious gyros. actually, the gyro hero owns vero's gyros, so he should have been with those first heroes. ha ha! that's better. so, to recap -- small business owners are heroes, and our heroes help heroes be heroes when they're not eating gyros delivered by -- ah, you know what i mean. chevy, chevy, chevy trucks. we think it's because chevrolets are the most dependable dependable dependable trucks. built to last

more of my interview with secretary of the treasury stephen mnuchin. and we have the crown prince of saudi arabia. we'll be right back. >> announcer: innovation in saudi arabia. his royal highness is taking his country further into the future with a mega city. and it's putting billions of dollars to work in the u.s. through a black stone infrastructure fund. all of that and more when "wall all of that and more when "wall street week" returns. my "business" was going nowhere... so i built this kickin' new website with godaddy. building a website in under an hour is easy! 68% of people... ...who have built their website using gocentral, did it in... ...under an hour, and you can too. type in your business or idea. pick your favourite design. personalize it with beautiful images. and...you're done! and now business is booming. harriet, it's a double stitch not a cross stitch! build a better website - in under an hour. free to try. no credit card required. gocentral from godaddy. when you think of miami you think of,you know,rich,glamour but 5 miles away f

secretary costa, senator paul, secretary mnuchin, administrator mcmahon. senator paul, thank you for those thoughtful remarks and to congressman greg walden and congresswoman virginia foxx, other distinguished members of congress, and job creators, it's an honor to share this moment with you today. president trump will take a critical step to lower the cost of health insurance for working americans. since day one of our administration, president trump has made it a top priority to rescue the american people from the disastrous failure of obamacare. every day obamacare survives is another day the american people struggle. and all the job creators gathered here today at the white house have witnessed the failures of obamacare firsthand. premiums have more than doubled since obamacare went into effect. and next year premiums are set to increase even more. while costs have been skyrocketing, choices are plummeting. next year nearly half of america's counties will have only one choice of health insurance provider which essentially means they have no choice at a

more of my interview with secretary of the treasury stephen mnuchin. and we have the crown prince of saudi arabia. we'll be right back. >> announcer: innovation in saudi arabia. his royal highness is taking his country further into the future with a mega city. and it's putting billions of dollars to work in the u.s. through a black stone infrastructure fund. all of that and more when "wall street week" returns. om the mart when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. ♪ ca♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone ♪ can i kick it? ♪ to all the people who can quest like a tribe does... ♪ our recent online sales success seems a little... strange?nk na. ever since we switched to fedex ground business has been great. they're affordable and fast... maybe "too affordable and fast." what if... "people" aren't buying these books online, but "they" are

secretary acosta senator paul, , secretary mnuchin, administrator mcmahon. senator paul, thank you for those thoughtful remarks and to congressman greg walden and congresswoman virginia foxx, other distinguished members of congress, and job creators, it's an honor to share this moment with you today. where president trump will take a critical step to lower the cost of health insurance for working americans. since day one of our administration, president trump has made it a top priority to rescue the american people from the disastrous failure of obamacare. every day obamacare survives is another day the american people struggle. and all the job creators gathered here today at the white house have witnessed the failures of obamacare firsthand. premiums have more than doubled since obamacare went into effect. next year premiums are set to increase even more. while costs have been skyrocketing, choices are plummeting. next year nearly half of america's counties will have only one choice of health insurance provider which essentially means they have no choice at

i watched that speech, i knew treasury secretary mnuchin would be on. very populous. >> yes, it was >> but once again, we have to flesh out the details. didn't mention state and local taxes. didn't mention is it retroactive? permanent? a lot of things that -- i thought it was a good speech it rallies the troops, but we'll have to hear -- >> the devil is always in the details. there's news that suggests it will be tough to give significant tax break without those breaks going to the wealthier americans because of who pays taxes if you look at it, 45% of all individual income taxes are paid by the top 1%. >> top 10% pay 70% ylan said people at the bottom only get a $70 tax break, and people at top get 58,000 nobody at the bottom -- you couldn't give the people at the bottom a $58,000 tax break, because this would put them at a tax credit of whatever >> 57,000. >> yeah. >> it's like -- you can't say it -- >> there's commentary from someone who is a tax analyst in the obama administration saying it's hard to have a tax benefit not go to someone in the top 1

>> let me ask but something steve mnuchin said since you talked about the stock market a lot, and the president does as well. he said, and i quote here, there's no question in my mind if we don't get it done, meaning tax reform, you're going to see a reversal of significant amount of gains. essentially saying if tax reform doesn't happen, there could be a major correction on the corner of wall and broad. how concerned is the president of that possibility? >> we're confident that we're going to get tax cuts done, and so that's what we're focused on and going to continue pushing forward until we get there. reporter: on the health care bill, if you don't mind. >> i'm sorry, one question. reporter: the california wildfire situation. does he have plans at this point to visit california to survey the damage in person, and if he doesn't does, that speak to or lack of interest in helping the state recover from the wildfires? >> not at all, again, the administration has been very engaged throughout this process. we're going to continue to be there, we're continuing to talk with state and local

with the markets, the dow surging thanks in mart to ibm's big beats but it's comments from steve mnuchin about tax reform and stocks that investors are talking about. tax reform or look out below is that what we need to start thinking about >> well, i think, number one, we don't want to pass a tax bill just to support the market markets are up 80% of the time, number two number two, it's an irresponsible comment by mnuchin and number three, the u.s. market is lagging other markets around the world, so there's no -- or very, very little expectation that a tax plan will occur and that it will occur that's going to impact this market. >> here's steve mnuchin with these comments >> there is no question that the rally in the stock market has based into it reasonably high expectations of us getting tax cuts and tax reform done it also has based into it amount mitchell on regulatory relief which they have begun to see, and there's expectations, so i think to the extent we get the tax deal done, the stock market will go up higher, but there's no question in my mind if we don't get it done you're

kevin: including steven mnuchin.sident likes to meet with democrats, he likes the bipartisan feel and they're are hoping to get a couple of democratic supporters in order to offset what could be conservatives who are against them on tax reform. thingsre a couple of being discussed, border adjustment tax, guilt, the state and local deduction issue, which has been somewhat controversial. there is potential a pay for on 401k's that asset managers are quietly pressuring the administration and people like chairman brady of the house tax writing committee against. this would be -- how this is being put together is very much evolving. it is very fluid. on the issue of the budget, republican lawmakers in the senate are very much pushing to get the budget voted on by this week. it is the latest political hurdle they have to clear, if they want to get the tax reform by the end of the year and that is why some republicans, including mick mulvaney, are saying that if they do not pass a budget by the end of the year, it looks lik

you can see steve mnuchin and linda mcmahon is there as well.he acting secretary for health and human services is there. that is the bearded man to the right of the podium. we will bring that to you live. this is bloomberg. ♪ vonnie: president trump is set to sign an executive order in just a few moments on health care in that room. andcan see steven mnuchin small business administrator linda mcmahon. the acting home secretary for health and human services, the acting hhs secretary and also the owner of i hop. basically it's going to involve cutting back a little bit on what the affordable care act allowed and specifically these association health plans which would allow small groups to band together to buy their own insurance. there's a lot of criticism of this. mark: what are these association health plans? bit like as a little union or a group of like-minded individuals in a small business category. they would get together, negotiate their own price with an insurer. the trouble is according to people like the kaiser family foundation that wou

what in the world is steve mnuchin talking about? you couldn't get hired at goldman sachs if you walked in with that. that's where his father made all his money. that's how steve got his job there. >> be really specific about the trump bump. the trump bump has been a stock market bump. >> which began in march of 2009. >> and the stock market is not the u.s. economy. >> the stock market is not the real economy, okay. the real economy are workers and corporations and corporate earnings. that's the real economy. consumer spending. >> only 52% of americans even own stocks. >> there's a correlation. >> whatever we're seeing in the real economy is what the obama administration set in motion. trump still has a year or two before he can lay claims to what's happening in the macro economy. the stock market is just the barometer. >> what we also see in the real economy is that forgotten american who is so angry that the stock market went up so much and they were left out and now that same forgotten american who voted for trump is not benefitin

i hear what mnuchin is saying.e's not gips the players protesting, he just doesn't like it when they do it on the field when everyone's watching. yeah, do it somewhere else. could you imagine mnuchin giving that advise to rosa parks? hey, rosa, why are you protesting on the bus, huh? people have places to be! take the bus to your house, sit down on your couch and protest from home, boom! racism solved! ( laughter ) so you know what? the trump administration is okay with protesting, okay, as long as it's on your own time unless you're espn commentator jamal hill criticizing the president on your twitter feed. that's a fireable offense, too, right? though i do understand where temperature is coming from because twitter is his workplace. it's a different thing. ( laughter ) but i get it, you do it not in public. here's another example, over the weekend stevie wonder took a knee on his own time in his own show, and even then, even then a former republican congressman tweeted, "stevie wonder takes a knee for the anthem

secretary acosta, senator paul, secretary mnuchin, director mulvaney, administrator mcmahon. paul, thank you for those thoughtful remarks and to congressman greg walden and congresswoman virginia fox, other distinguished members of congress, and job creators. it's an honor to share this moment with you today. a moment where president trump will take a critical step to lower the cost of insurance for working americans. since day one of our administration, president trump has made it a top priority to rescue the american people from the disastrous failure of obamacare. every day obamacare survives is another day the american people struggle. have witnessed the failures of obamacare first hand. premiums have more than doubled since obamacare went into effect. next year prem yums are set to increase even more. while costs have been skyrocketing, choices are plummeting. next year nearly half will have a choice of one health care provider which essentially they have no choice at all. as the president and i have traveled the country, we have heard stories from working family who is

but steve mnuchin did not get off scot-free.he report shows how he had run up quite a tab for taxpayers for seven flights on government planes. the inspector general's report also dinged him for what is essentially flimsy justification for the use of these government airplanes. the inspector general saying, and i'm quoting, he's concerned about the justification given. the inspector general went on to say in almost all cases a single -- i'm quoting -- single boiler ploit statement was the justification when more rigorous justification should be given. as for a that trip, brooke, to see the solar eclipse, that caught a lot of headlines when he flew to kentucky. it cost taxpayers nearly $27,000. the ig did say there is no evidence to show that mnuchin chose that date to specifically coincide with the solar eclipse. all of that said, the ig goes back again to the concern over justification for the use of the government plane. one of the reasons given to use the plane for that trip was that mnuchin said he needed secure communicatio

i'm surprised to hear mnuchin talk about the market almost like a threat but whether he meant it or notnd whether he thinks that will get congress to pass tax cuts it's really immaterial. i don't think there's any resolution or legislation passed this year on tax cuts, so i look back and i'd say what is the market running on and it seems to me yes earnings are good and trump is doing a pretty good job cutting regulation but it seems to me honestly it's running on fumes. you know, people think dagen that the crash for example, in 87 was a one-day thing. it wasn't. it started back in august for crying outloud and that 22% drop we had on black monday was a part of an overall 35% trump. if we start going sideways and start tailing off and then we hear the news about the tax cuts , we could really have a pretty awful market. >> dagen: well john so far this past week, we didn't see a sideways market we had a new record on friday for all three major market gauges but if we don't get tax cuts does that rock this market? >> john: i think it does because you look at what happened this week the ma

finally, today's executive order instructs secretaries acosta, mnuchin and hardin to explore how they can use more businesses to make free arrangements or hr a's to compensate their employees for their healthcare expenses. currently only one third of small business employees receive coverage at work, forcing millions of workers to enroll in the exchanges or remain uninsured and to pay the individual mandate penalty. not good. not good. that is one of the most unpopular things i've ever seen in government, i can tell you. this order takes first steps to make it easier for businesses to help their workers to afford high quality and more flexible healthcare through reimbursement. with these actions, we are moving toward lower costs and more options in the healthcare market and taking crucial steps toward saving the american people from the nightmare of obamacare. today is only the beginning. in the coming months we plan to take new measures to provide our people with even more relief for freedom, and by the way, on another subject, that willinclude massive tax cuts . we are going to get

first, treasury secretary steven mnuchin. the department's inspector general said it was legal for mnuchin to spend more than 800,000 bucks for flights on military jets, but the i.g. adds, they were poorly justified by the administration. i'm going to point out, flying to miami private? do you know how many flights to miami there are a day? i'm going to guesstimate a zillion. this report comes out after former health and human services secretary tom price resigned. he spent 400 grand on private jets and 500 grand on military planes. they're just the latest officials under fire for high-priced travel. let's now bring in the reporter who broke that story about tom price's travel. rushna, i have to ask. tom price said last week before he left that he was going to pay for his share of the flights. first of all, i don't think there is a share of the flights when the whole thing was chartered for you, but even if you're going to split hairs and say he was going to pay 50 grand, not 800, are we still going to get the 50 grand now th

mnuchin is in israel for three days.r of catalonia said he will not call regional elections that might have result of the crisis with the spanish government. the spanish president accused the government of trying to eradicate the region's traditions. the prime minister wants lawmakers to give him the power to remove -- over his threats to declare independence. -- is out as manager of the new york hankies. he will not return after 10 years. he led the yankees to more than one game of the world series. they won under him in 2009. global news, 24 hours a day. powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton, this is bloomberg. jeff gundlach is waiting for a moment of truth. the billionaire hedge fund manager says he sees -- as the fed unwinds its balance sheet. ,> we have long equity markets without getting too much into our positions. >> why not, let's get into your positions. >> we don't. i'm saying, no, the answer to your question. eventually, it comes along, but we are in

stephen mnuchin says it's mnuchin says is confident mnuchin says it's confident it ministrations abilityays. >> if we get tax reform done this year, it would be

as i said before, the full mnuchin. steve mnuchin has put his entire success and reputation on the line when he gets on his knees and praises to the president in front of the whole entire world. >> yeah, he who tells the most outrageous lie wins i think is the operative political theory of the white house. and the truth is, it's not -- i'm not talking about the morality of it. it's not bad politics. what's happening here, i think what we're fail to appreciate is what's happening here isn't -- it's basically a culture war within the republican party. someone like judge moore stands on one side of that culture war. guys like jeff flake got into politics because they believe in lower taxes, small government, all of the kind of nice, neat, conservative ideas that attracted me to the republican party, you know, in the 1980s. but that's actually not what's happening here. and it's important to understand sort of steve bannon's ideological pedigree. this is a guy deeply steeped in marxist and fascist ideology and philosophy fr

steven mnuchin wraps up a middle east trip in delhi. delhi -- doha.e says that the two nations have a shared understanding. the u.s. has been trying to find a way to break a month-long saudie in which the .egime has cut ties with doha this is bloomberg. >> thank you for that update. federal investigation into whether the trump cap lane -- campaign colluded. three people not been charged. paul manafort and former business partner rick gates are accused of conspiracy, money laundering, lying, and other crimes. george papadopoulos is also facing charges. this follows months long investigation into the possible crimes including possible instruction of justice by his associates. we are joined by jodi schneider. the first question i had, how much do these developments threaten the president? here is robert mueller making a case. we are seeing what is playbook is going to be. he is trying to get a lot of information, get a lot of data, and send the signal through these indictments and through releasing the guilty plea from saying we wills go after a lot of p

is pushing for powell to take the job we'll hear more from secretary mnuchin at 7:45 a.m.astern on "squawk box. >>> sheryl sandburg is in washington today she will sit down with mike allen of axios later this morning in her first interviewan groups buying ads to affect the election the house intelligence committee says it will release some of the thousands of adds that the company turned over to congress. >>> we are continuing to follow the developing story out of northern california. deadly wildfires are burning unchecked. officials say more than 23 people have died from the fires. more than 3500 structures have been destroyed leveling hundreds missing in chaotic evacuations firefighters are battling high winds as they try to contain two dozen blazes spanning eight counties a live report coming up >>> alphabet's waymo demanding a billion dollars in damaging and a public apology from uber those two fighting in a high profile trade secret lawsuit reuters saying uber rejected the terms as nonstarters >>> still ahead on "worldwide exchange," bitcoin surni insurgv $5,000 for t

from steve mnuchin who reportedly recommends the candidate to president trump for fed chair. we hear from the treasury secretary himself at 13:45 cet >>> lufthansa shares lift off helping the dax briefly hit record highs as the airline is set to buy a contract of parts of air berlin. >>> the uk competition authority clears the deal between just eat and hungry house >>> let's get to breaking news leading oil producers are committed to do whatever it takes to rebalance the market. that's according to the latest iea report despite slower demand in the third quarter let's discuss that with neil atkinson from the ieaa always great to have you on the show thank you very much for taking the time usually we talk about the supply side of things first, now i want to talk about demand as you said in your report, demand, the pace has weakened in july and august. in september we saw the impact of the hurricanes. was it off a one-off effect? is this something to worry about longer term? >> i think the focus should shift to the fact that in the second quarter of this year we had exceptional

mnuchin came out with the idea. doesn't that seem like it to you as well?sonal side that is absolutely true. i think the corporate side remains a strong piece of legislation, getting corporate rates down to 20% will have huge, positive impact on america and on creating jobs here and keeping jobs here and bringing jobs in from oversees. move to territorial system is important. the three major that occurred in my political career, reagan rostenkowski. two, was widen coates, top rate was 26% and simpson bowls where top rate was 25%. they all retained progressivity. david: senator, we actually have a full screen. we can put that up and show it. the reagan top rate was 28%. that was '86. then simpson-bowles which was a bipartisan proposal. mr. bowles is a democrat. their top rate was 25%. so 39% rate, virtually unchanged the top rate according to trump, right? >> which is a huge mistake in my opinion because what you're going to get are people continuing in the top brackets to invest to avoid taxes. not efficiently use capital. the reason you want to get the top

i will be speaking coming up with treasury secretary mnuchin and london stock exchange ceo.t tax reform in 2020, billionaire mark cuban seems to be setting up a primary challenge to president trump during interview with fox news host tucker carlson, cuban slammed trump's tax plan and weighed in on how he would help the middle class. >> the first thing we would do decrease payroll taxes, i would focus on creating technology solutions, i think there's a way that we can reduce the size of government, the size of bureaucracy that deals with health care but it's going to take somebody who understands technology to find those solutions. maria: joining us right now and first on fox business interview is revolution ceo and chairman former ceo of aol, steve case. steve, great to see you. >> great to be back. maria: your thoughts on this mark cuban will run for president? >> three more years to go, i love that mark is throwing ideas to help the middle class. maria: so far divisive innocence the country. what do you think about the policies coming out of this administration having comi

steve mnuchin, scott pruett, ryan zinke and david shulkin all under fire for their swank can i travelt just the guilded trump cabinet doing the spending but the trump kids annual aspen, the fancy vacation cost some $300,000. joining us down, the opinion writer for the "washington post" and msnbc contributor and politics reporter for the daily beast. so, you know, jonathan, this is an administration that's come in saying they were going to go after waste, fraud, abuse, we can't afford food stamps. can't afford health care. they live high on the hog. did tom price pay the price for living too well on the public dime or your view, was it living too high in the public dime plus health care didn't pass? >> it's that, but also, the other thing you left out, getting bad headlines that reflected poorly on the president. we have a president who cares only about what his headlines are and so a couple of days ago, joy, i tweeted out, let's be clear here. president trump is not upset by what secretary price did. he's upset by the negative press caused by what secretary price did, and so with all

i don't like what mnuchin said. i think it was provocative in terms of threatening. the anticipation of the tax cut is baked in. so everybody knows who is actively in the market. there will be some kind of pullback if we don't get the tax cuts. charles: president trump pulling in democrats. it's obvious also that the average american out there wants to keep a bigger chunk of his or her paycheck. tammy: there are so many vulnerable democrats. this is what i expected from mcconnell to do in the senate, these democrats are from deep red states. super trump fan states. and it's the right thing to do. so they are doing what their constituents want. this is not horse trading. they got away without helping with obamacare. but in that framework this is a delay and they will help with that. whether it's ivanka and jared having their dinners. the meetings the president is having. the fact of the matter is they will be helping their constituents to do this and helping the nation. charles: ivanka and jared had dinner with three democrats who are in vulnerable spots next year. do

i caught treasury secretary steve mnuchin this morning saying if you raise your economic growth rate, just .3, or .4% than everything is paid for. that is a bit of a stretch, is it? that is very optimistic. >> stuart, look, the secretary and i spent enormous amount of time talking through this, reality. we know what 1% growth for gdp. we know that is $3 trillion. if people are scoring this as trillion 1/2 dollar deficit, a half a percent will pay for it, anything more than half a percent will more than pay for it, but then you're not talking about the additional job growth and jobs will come into the system and wage growth and all of the other ancillary benefits. i think the secretary is exactly right. we get a little bit of economic growth here. this tax system will more than pay for itself. stuart: the president said last night this plan would put extra $4,000 into the pockets of middle-class families. where does that come from? >> so, stuart, when you lower the corporate tax rate, and you lower business tax rate on the pass-throughs, businesses have more earnings. where does that e

it's not his style and he hasn't done the full mnuchin. >> done the full mnuchin. >> so if you even look at the end of august when rex tillerson was asked what he thought of whether the president's response to charlottesville reflected america's values, and he responded by saying the president speaks for himself, and the president was really ang angry. and we spoke to tillerson's spokesperson, r.c. hammond, and he said tillerson went into a meeting the next day, on monday, with the president and the president congratulated another white house official in his sunday show appearance because he had defended the president vigorously. and he turned to tillerson and said, the first time i saw your comments, i was really upset about them. but then i watched them a second and third time and i realized you didn't mean them how they came off. but the message is clear, you're not defending me enough, and it's just not his style. >> before we go, should evidence that press conference yesterday? to me it kept the story alive. it was clear he didn't deny it. >> i think secretary tillerson had to have

>> yes, it was mnuchin and gary cohn.he power lies with the voters, with the representatives. >> right. here's the thing, there's two, there's two ways of looking at this. you know, congress is putting together this plan, but they're doing it in concert with mnuchin and gary cohn. so they made their peace. they were unimpressed by the response which was we'll talk to you later. as you know, kevin brady came out today and said the house -- the deduction will not be in the plan that's unveiled, i guess, tomorrow. who knows what's going to happen in the future. so here's what we got from the congressional delegation from new york, is that they are still -- that's nine members -- still not sold on the tax reform efforts. they are worried, obviously, over the s.a.l.t. deduction, and what we understand is there is a growing consensus among those nine members to oppose the tax plan, to vote against it. the question is, is this total buy cot from new york enough to kill -- boycott from new york enough to kill the deal, and will o

steven mnuchin. mr. secretary, thank you for joining us this morning.we heard the president right there. also you and your colleagues have said the wealthy will not get a tax cut under the plan. it's hard to see how that can possibly be true given that your plan proposes cutting the top rate, eliminating the estate tax. eliminating the alternative minimum tax and cutting the rate on pass-through entities. the nonpartisan tax center saying 80% of the benefits will flow to the top 1%. we'll show that chart. the wealthiest getting the biggest cut. it's a fact, isn't it? >> george, great to be with you this morning. and no, that's not a fact. as we release the details of the plan, we'll show all the different impacts to different people. as the president has said all along, the changes to the income tax system are meant to create middle-income tax cuts and make corporate and business tax competitive so we can bring back tons and tons of jobs and capital to this country. >> i know that's the objective. based on the evidence put out so far, all the cuts i jus