if you take a look at paychex, paychex generated about the same revenue for employee of about 160,000ix or seven years ago, and they use technology very effectively, and their employee head count continued to grow but at a slower pace, and now paychex is generating $280,000 per employee this is a growing industry i not a dying steel business in the midwest. you think of that in the past where there have to be large scale layoffs because the business is declining. biggest risk to adp's employees are the competitive threats from companies like work day. if the company doesn't inyo inn, doesn't launch a competitive market, they're going to lose market share in that business. one of the examples we give, which is a powerful one, is when you look at businesses that adp has sold, after they're no longer owned by ap, the businesses do much better. there's a company called cdk it's a public company. we spun off of adp three yoerz ago. it was what they called their dealer services business it was almost 20% of the revenues of the company. they spun it off to shareholders he this inc. chaed the

>> in my belief between these tax cuts and higher paychex and growth, whether you are that worker onstreet, or that small business on main street, you were going to see more in your paycheck. you will see more in your pocketbook. >> tucker: i'm rooting for that, of course. chairman, thank you. >> thanks. >> tucker: the trump dossier helped spark the national federal investigation, was it all a dirty trick? we talk to someone who has it details about that. stay tuned. ♪ liberty mutual stood with me when i was too busy with the kids to get a repair estimate. liberty did what? yeah, with liberty mutual all i needed to do to get an estimate was snap a photo of the damage and voila! voila! i wish my insurance company had that... wait! hold it... hold it boys... there's supposed to be three of you... where's your brother? where's your brother? hey, where's charlie? charlie?! you can leave worry behind when liberty stands with you. liberty stands with you™ liberty mutual insurance. >> tucker: this is a fox news alert. we've learned tonight that attorney general jeff sessions has ordered fed

maxx ceo has continued giving paychex to his island based employees, think it's the right thing to doately, more of half the island still without power. but with christmas shopping coming up, hats off to a compassionate capitalist like the boss at t.j. maxx. >> dana: i have a podcast too. chris stirewalt. we will post it tonight. no cross talk. this is a story you might've heard about. a man in utah walking a personal day with a sign that reads "need a kidney for wife." it has a happy ending. his wife is going to receive a kidney transplant after two years of waiting. he said he's had lots and lots of calls. he said he's been so overwhelmed with gratitude for all the calls. he's going to keep walking and start a kidney revolution. loving husband. >> jesse: i kind of feel like a loser i don't have a podcast. >> greg: you don't need a podcast of feel that way. >> kimberly: you sort of do it here. >> jesse: you would not be invited on my podcast. the internet is going crazy over video. donald trump played golf with the japanese prime minister. there they are. there is some speculation. d

. >> people would see higher paychex. they would see, okay this thing will get better. have a lot of confusion, of small businesses, are they getting a cut? businesses are we really getting the corporate tax cut? will democrats get control of the house to start impeachment hearings, who knows what will happen. david: that is good point. if you delay corporate cut of a year, democrats win the house you may never get a cut this corporate rate. >> yes. you will have a lot more uncertainty. being in the position where the economy is growing. republicans keep control. so businesses have faith in the future. but right now. they have given up on the death tax. talking about postponing the corporate tax. and then in terms of the instant expensing, well, five years, democrats going to renew that? hello. david: very quickly, last week my feeling half a loaf is better than none, is this even less than half a loaf right now? >> it is less than half a loaf and the bread is going stale. david: steve forbes. good to see you. wish was happier conversation. melissa. melissa: i know some

paychex does a portion. i'm not sure you are comparing apples to apples.l: we are because the competitors compete against adp in every segment of the business. when you benchmark a company, you benchmark it against a competitor set. 80 pick -- adp has cherry picked competitors. ibm is a major factor in their comparison. ibm does not compete with adp. workdayompeting against answer really in. -- and cerulean. adp overstated its overturn to shareholders and understated the return on the comparison. vonnie: you get on the board. shareholders vote u.n.. jobs say you have done your and you get your seat. what makes you think that even given no impedance from the board and all your ideas including the acquisition target that you have, they all go through, what makes you think the value will go up? bill: the opportunity is it is great business in a great sector. the economy seems to be doing well. a nice macro tail end. interest rates are likely to rise. benefits will favor a macro environment. you have a nice set up. if you add onto that the opportunity to take

will not have noticeable impact on people's paychex, in time for 2018 elections. historically the first midterm election for the party holding the white house are typically not good. they have been promising bold reform. they botched it on health care. now i'm looking at, i've been in d.c. almost with respect years, i -- 20 years, i can see a train wreck starting to form and can see problems with the election prospects in 2018. there are ways to address it seriously cutting spending not afraid to do that, touching even your sacred cows. but of course that idea was passed over in favor of this kibuki math they're using but the big thing they're getting all the more gun-shy. so after the elections this week, and obviously inroads democrats made, not only in virginia, new jersey, but to your point in maine and in new york and in picking up of minnesota and washington state and george today, -- georgia, te feeling seemed to be the american people like more government. maybe the american people are against big tax cuts. so they're actually getting more cautious. and th

individual mandate or not, i'm wondering about the impact it will have on a lot of americans see their paychex next year, presumably about this passes goes through. they realize they're not getting a big ol' tax cut, at least not the one they thought they would. then many of these high-taxed states will pay more. you don't have to be rich to pay more, you could pay more so couldn't that backfire on republicans, not losing the vote, actually winning the vote? >> correct. i also agree with regards to the individual mandate. as much as i would like to see the individual mandate disappear and break the back of obamacare politically, i don't understand why all of sudden you put that into a tax bill. that makes it even more difficult. neil: their logic was to use the money to satisfy these differences. >> sure. neil: i agree with you. i think revisiting a third rail, right? >> revisiting third rail. it reactivates liberal base was that quiet on the tax bill at least so far. as far as state and local deduction this is is politically contentious issue. the thought process, we don't want to tax some re

numbers and see that 95% or more of our constituents and taxpayers pay less, they will see that in the paychex said. there are many people who will get a tax increase. >> when you say many people i am saying 95%. we would like it to be 100%, but there's always the outlier and we can't change that but i will stand with 95% of hard-working. maria: this is what steve mnuchin told me about this topic. >> i do hope this sends a message to state governments that they should try to get the budgets in line and the question is why do you need 13% or 14% state taxes. maria: you think it is 95%, congressman. >> in my district it is 98%. it may be different in long island. a different dynamic on staten island. 95 to 98% of constituents will take the standards deduction and the salt deductions i meaningless. when you consider the alternative minimum tax which doesn't exist any longer was based solely on the government client money back from people who took the deductions of people were not getting the full benefit anyway, not getting the full benefit of the salt deduction. >> the amt was developed to tax 1