Republicans unveiling the plan today with hopes of reforming the tax system its been in place for 31 years. President trump touting the tax plan and applauding the efforts of how gop. Roll tape. President trump a lot of good things are happening but this is the final element. Tax cuts and tax reform and its an honor to work with my fellow republicans. I think were going to actually have some democrat support. I think its going to be very very hard for them not to support it because this is a middle income tax reduction and its a very big one. It will be the biggest tax reduction in the history of our country. Charles now of course we all know coming up with a plan is just half the battle. The other half actually getting it passed so will they actually get it done . Joining me now republican congressman a member of the Budget Committee and the Freedom Caucus congressman thank you so much for joining us. You bet charles. Charles i read your release. Youre excited about this. Why are you so excited when so many other people on pins and needles . Well the pins and needles are over the smaller bullets but the four pillars are in place. Leadership came through. Everyone knows i try to tell the truth. I had hard times with the federal Healthcare Plan but this tax plan is good a true middle class tax reduction in virginia the average Family Income is about 60,000. Family of four that family will get about 1200 back in their pockets in tax relief thats a big deal. 1200 back and then corporations go from being the highest taxed in the world down to 35 or 39 way down to 20. The scorp. Small business gets down to 25. We have a little work to do on the service side to make sure they get the full tax impact and then weve made the globe competitive again, right . Were getting money from abroad. Get firms coming back to this country because of this new tax structure, so overall, leadership delivered on what they promised. Its a good plan and now as you said, the senate if they can get a better score on this, theyre kind of were all limited this 1. 5 trillion on the senate side , if we can expand that we can even get more tax cuts acrosstheboard and get the economy growing even faster. Charles now, i suspect one of the challenges you talked about the lower Corporate Tax rate is articulating to the American Public how a Large Corporation getting a 20 tax cut actually impacts them. Yeah, absolutely. The wall street journal who i dont always agree with has had a great series casey mulligan, university of chicago theyve had a dialogue and the left smears all this and confuses it intentionally but the economic literature is pretty solid on the basic point that all the reductions in the corporate rate , twothirds of the benefit flows through to wages, not to owners of capital, through to wage workers, and so thats confused so youll hear the left say yeah, 80 of the benefits go to the top 1 thats false and then if you look to the other side of the aisle and say lets compare products, the democrats, the progressive budget a couple weeks back put out their tax plan and they raised taxes 10 trillion. They raised spending by 11 trillion and end up with more debt and deficit than our plan which lowers taxes, and so all you got to do in a race is beat the guy behind you if we clearly beat them and i think the voters will be coming our way once they compare the two products. Charles like the story of the two guys who came across the bear right . Thats the one i got in mind. Charles its interesting you talk about the democrats because even the Washington Post and President Trump alluded to this gave them four for saying that taxes were going to go up for everyone earning less than 86,000. Before i let you go though, President Trump keeps alluding to the notion that perhaps some democrats will join on this. Ive already heard nancy pelosi come out with some explosive accusations about this destroy ing the middle class being only for the rich. Is it possible to get some democrats on board and if not, could it still pass because we know to your point its going to be different in the senate and perhaps even in the house where its already a no. Well, nancy pelosi, shes known for explosive statements, but go back and look at bernie. Bernie was the guy who got the new revolution going on the left and it had to do with workers wages so he was on to something and im word scared of him right he had the same message as trump about the forgotten man and the middle class and so President Trump has it exactly right. If we get a true big middle class tax reduction, the democrats and the working guy back home is going to say which party is really looking out for me and nancy pelosi might talk a good game and et cetera, but bernie was the one gathering the steam and President Trump came through with the big win on that issue, so they broke our way on the policy and right now the democrats are kind of doing identity politics and they may go back to just doing class warfare, right . Kind of charles its going to be tough though for them to do class warfare as they denied the average american out there to keep their hard earned money they work for. Thank you very much congressman. You bet thanks charles. Charles now, to our panel heather higgins, president and ceo of independent womens voices michael barns Foreign Policy advisor to president george w. Bush a managing partner at dcba law and policy, and ron meyer, a washington examiner. Heather let me start with you. Does this plan hit the mark in your opinion . Yeah, it did so whats interesting to me, two things. It is a very much a trumpian bill. It is not a standard gop bill. There are actually rates or payments that are going to increase for high tax earners and particularly for people like me who live in states like new york where the deductibility is now not going to work in our favor the way it used to. That doesnt mean that immunooncology pose the bill. In fact i support it. Im not going to let the perfect be the enemy of the good but its important to remember this is really a bill by and for a business guy who understands that his number one priority is improving the Business Climate to improve growth and to create a tax benefit for middle income and lower income people. Charles right. To do that the real battle is going to be overscoring. Do you use the broken cvo joint tax model that even janet yellen says has not worked in 20 years or do you understand there is growth and that that growth is going to drive this economy and make that possible, so thats the big fight. Charles ron, we do have a probusiness president but some people are saying this benefits the big businesses out there. The socalled global itses if you will. The National Federation of independent businesses have already come out and said this is not helping Small Businesses enough. That could be an issue. We know that americans love their Small Businesses so i saw the pass through rate of 25 was pretty good but there seems to be some issues with this. Yeah, i mean i dont think any first draft is going to be a perfect bill and i think thats probably the biggest concern were hearing and the other big concern were hearing is really what middle class is different in each region of the country and what im worried about is some of the deductions theyre targeting and capping really impact middle class suburban areas or places growing really quickly and so whether its your Small Businesses, guys and women who are doing very well and starting their businesses and trying to invest their capital or whether its middle income families who live in high growth areas where the cost of living is high, theres some questions still left about this bill but overall, it looks like a pretty good first draft and a decent compromise out the gate. Now how this thing changes will really decide whether or not you can hold your coalitions together enough to pass it because these state and local income taxes, the mortgage interest Tax Deduction these things are important to a lot of middle income families and youve got to prove that youre going to cut peoples taxes and i dont think we have that necessarily out of the gate. Charles also income with the mortgage deduction the National Association of Home Builders coming out very very forcefully against this bill as well but the political side of this michael. Can they put it together . Politics is compromised, the Republican Party has shot itself in the foot already. They desperately need this win. They got out of the gate today and got wind in their sales can they get to the finish line . I think its going to require a good amount of change to the current bill charles in order for that to happen because as we heard from congressman brat the current bill as it relates to Service Providers in that Small Business sector their taxes will increase and thats not good for the business, or good for the u. S. To have a tax cut on the Large Businesses in order to raise your taxes on the Small Businesses so were going to have to see that core constituency of the Republican Party like the nfib is going to get on board with any sort of tax reform and right now theyre not there. Its going to have significant changes so we dont see people get tax increases. Charles handicapping for it we know its got to go through more sausage making but do you see it getting through ultimate ly . Yeah, i mean lets be political here. The senate saw their contributions drop dramatically when they failed to pass healthcare. Nothing talks like money and so they understand how unhappy their constituency is with them that they couldnt do that yet and so theyre very serious about getting this done. I think the party montra is going to be it aint perfect but were not going to let the perfect be the enemy of the good this is so much in this is steps serious steps in the right direction, so many people will benefit whether its from tax credits and child deductions or whether its being able to file on a postcard, lots of real benefits from many many families charles well the bottom line i think will get strength to a bumper sticker, it aint perfect guys thank you all very much appreciate it. Thank you charles. Charles after weeks of internal debate todays first glance into how House Republican s want to reshape the tax code still far from being final. Well break down the economics of it for you, next. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. 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We still of course also wait the Senate Version of the bill with me now to discuss republican congressman of arizona and by the way member of the house of the ways and Means Committee and want to say congratulations sir. You guys put it together. Youre very kind though. Forgive me if i slur a bit. I think ive gone a couple days with almost no sleep. Charles it was really really tough, and i guess because everyone had something, there were a lot of sacred cows up for grabs. Oh, yeah. Charles that scared the heck out of people when there was talk of messing with 401 k and delaying the Corporate Tax cut it felt like you guys were grasping for straws. Well youre constantly battl ing this model of a lot of the deductions, the credits, things in the tax code are great politics, but theyre horrible economics and if youre desperately trying to get the economy to grow so our brothers and sisters out there who are looking for jobs or trying to get higher salaries have an opportunity, you have to do some pretty tough stuff, and so we made the decision to dramatically lower rates but get rid of a lot of the special interest deductions, and its hard because lets face it were all special interest in some case. Charles speaking of special interest theyve already come out the National Federation of independent businesses and National Association of Home Builders thats just to name a couple, one of your colleagues has come out against this, so you guys have to circle the wagon and protect this bill. Absolutely and this is one of the really tough things. If youre from a high tax state you may cherish all these certain deductions of your state income tax and those things, but when you model it, it provides almost zero economic expansion but its a tremendous amount of spending in the tax code, so whats the fair thing to do for people around the country . Its to come up with a tax code that treats everyone fairly, gives them a simple tax code and maximizes Economic Growth, because as you know because you and i talked about this before. If we dont dramatically increase the Economic Growth in this country in about a decade or so we hit an entitlement wall where we can no longer cover all the promises weve made. Charles with respect to that theres also a debt wall we may hit before a decade and the Republican Party as a whole is taking a bunch of heat for not even discussing spending cuts. Whatever happened to the party that said president barack obama was going crazy with the charge card and now its okay . Is it like cholesterol is there good debt versus bad debt . No, no if you think about what we as republicans did even under the obama administration, we absolutely flattened out what they call Discretionary Spending we will go a decade where Discretionary Spending is flat. Our crisis is the threequarters of our spending that are entitle ments, that are just exploding because lets face it were graying as a country. The peak of the baby boom is only 60 years old today, so that is driving us functionally mathematically off the cliff, but it gets much easier to deal with if we can dramatically start expanding this u. S. Economy. Charles right and of course thats supplied side economics. I know on your website you talk about dynamic scoring. We hope the senate will try to force that issue because thought will make it a lot easier well quick before i let you go and i know you want to take a nap or even longer, repatriation. 12 for cash. Youd think thats going to be enough . Apple just reported their earnings and theyve got almost 300 billion offshore and they could borrow at 1 or 2 they dont need to bring back that cash at 12 do you think you can get that lower . Im not sure its necessary. Look, this was tough because if we adjust the dial here on this part of international then did you raise the rates on individuals or vice versa, so this all sort of harmonizes and lets face it if we move a number here we will create a cascade effective are where else charles okay. And trying to come up with that math for cash equivalence of bringing all those resources back to the United States, theres also the other factor of where it gets invested where it maximizes its rate of return to that company. Charles i know President Trump he likes that repatriation he keeps talking about 4 trillion. I just think 12 may be too high a hurdle but once again congratulations sir. You guys it was tough and i know its just the beginning. Thank you very much for joining us. Charles we have a couple more months of battling this through but be with us thank you. Charles coming up were going to also break down these numbers a little bit more and tell you what it means for you. What does this all mean for you and your family . Well explain, next. Charles so you been hearing about this right . The gop tax plan reduces the number of tax brackets from seven to four making it easier to identify which bracket you physical under and of course the big question is how much will you actually save . So weve crunched the numbers for you. For instance take this example. A family of four with a Household Income of 59,000 under the gop plan this family will save almost 1200 annually which is more than 2 of their income for more want to discuss my panel, president for the committee for responsible budget , federal budget and a senior fellow. You two are my favorite favorite brains when it comes to this kind of stuff because youre very critical and very observant let me start with you because you have been very critical about a lot of the aspects of this and some of it all the way through. Are you happy with what you saw and how does it help the average person watching this show . So i have been very critical of the overall parameters of the tax reform bill. In that the budget that was adopted by republicans that allows for tax reform instead of focusing on things they talked about for so long entitlement reforms and spending cuts along with tax reforms, leaves all those behind and adopted a plan that allowed for 1. 5 trillion of borrowing to finance the tax cut. That is not the way to grow the economy which is one of the real reasons we do need to reform our tax code. Charles go ahead real quick. But what i would say is what we saw is as they filled in the details they actually do offer a number of ways they fill in that gap. Theyre not going to be able to pay for it and still a huge 1. 5 trillion or more gap but i was in pressed with some of the base broadenners and they are the things people wont like because theyre hard choices shutting loopholes but what we need is more and im worried well get fewer as time goes on. Charles but what people like for instance lets say a firefighters, a single firefighter with an income of 49,000 would save a certain amount of money. We have it right here. You 1301 less. Thats a huge huge difference and these examples we can show them over and over again so it does impact the average persons wallet. People who went on november of last year to vote for this. Yes, i mean youre right but i will raise some concern about this is like when you do this for lower and middle income people, im sure they really appreciate but we know the gross effect is minor and what ends up happening is you shrink the tax base further than we have it now and when you have this with a growing deficit and more spending and a lot of these tax cuts not paid for, it jeopardize s actually the dynamic Going Forward of maintaining those tax cuts and so its like i think that i understand the rhetoric of the middle class tax cuts. I understand why its appealing. I understand why people like paying lower taxes, but i am concerned over the long run because what effectively the president has delivered what he has promised. Higher income people who already shared, already shouldered most of the income tax are actually sending more of their tax dollars charles let me cut to the chase quakily because well run out of time. The 20 Corporate Tax rate repatriation of money abroad from both you guys quickly, cannot give us a sort of supply side dynamic that Ronald Reagan enjoyed. So i was going to say i do believe those changes to the Corporate Tax code and International Taxation can help grow the economy, get us some growth if and its an important if theyre paid for but right now and were talking about the middle class keep in mind the way this tax bill is the average debt that an American Household will have their debt their share of the debt increased by is 12,000. Charles but isnt the idea though that if you have more money circulating in the economy then that will drive up the coffers of the federal government and you dont have to raise taxes and it pays for itself ultimately . Im a big fan of that part of the tax plan at least the reduction of the Corporate Income tax from 35 to 20 and the fact that they made it permanent i think is a really great thing. Charles i think businesses will invest knowing that its permanent thats going to give them a lot of confidence and build factories and hire people ladies were out of time thank you both very much. Thank you. Charles there are more controversial aspects to the gop plan including whether or not it penalizes marriage. Well discuss that, next. What powers the digital world. Communication. Thats why a cutting Edge University counts on centurylink to keep their global campus connected. And why a Pro Football Team chose us to deliver fiberenabled broadband to more than 65,000 fans. And why a leading car brand counts on us to keep their Dealer Network streamlined and nimble. Businesses count on communication, and communication counts on centurylink. Listen up, heart disease. You too, unnecessary er visits. And hey, unmanaged depression, dont get too comfortable. Were talking to you, cost inefficiencies, and data without insights. And fragmented care, stop getting in the way of patient recovery and pay attention. Every single one of you is on our list. At optum, were partnering across the Health System to tackle its biggest challenges. Charles well you know they say every rose has a thorn and well, the same may be true for the gop tax plan with one of the biggest im calling it a penalty on marriage and let me explain. Take someone individual who earns 200,000 a year. He or she will fall under the 25 tax bracket under the gop plan but if youre married and the other person earns the same amount of money, then your income would have to, your tax will be 260,000 you fall under every other bracket, the double, its double the Single Person pays one half less of what a couple does except there, so it just seems like this plan actually deters middle income people from getting married. Its better people making less than 200,000 just move in together and both get a 25 rate want to discuss this with katie freights managing editor of olympic media and editor for the daily caller also ally, conservative millennial blogger and contributing host as well as Jenny Beth Martin president and cofounder of the tea party patriot. Jenny beth let me start with you 25 rate for a married couple that begins up to 260,000 for a Single Person 200,000. It just seems like again, if you are a couple and you are making a pretty good money why get married because youre going to be taxed so much quicker than you would if you stayed single. Yeah, so they do address it in the higher income brackets and i think that that is good and i think that they need to make sure theyre looking at how they can address it so there is not a marriage penalty throughout the entire code. There are a lot of other really good things about the plan and i think that we have to look at the package as a whole and then understand that its going to go through markups, the senate will have a version of the bill and what we see today is the first step in this process. Charles and im fine with that but i do want to point that out alley because to me one of the big issues if you want to talk economics nothing will help our country more than household formation, family formation, people buying homes, people getting mortgages, people saving money to put their kids through college thats the foundation of americas growth. It hasnt been happening and this certainly wont help. I absolutely agree with you. Now i think that many parts of the plan are pro family, pro growth; however in this case im disappointed. Youre right. There needs to be no penalty for marriage. We need to incentivize marriage as much as possible that increases the likelihood of having two parent homes and statistically two parent homes are much better for the child which consequently is better for the economy and better for society so im absolutely on your side when it comes to this. As far as the rest of the tax code goes i do think they do a good job of putting forth a pro family pro growth charles no doubt about that. Let me go to katie because to your point, the Child Tax Credit goes to 1600 from a thousand and what i thought was a great idea was this family tax credit because so many of us now may have a parent living at home with them, an older relative living at home and costs money to take care of them so i think thats a brilliant ideal though some wanted to be more katie than 1600. Marco rubio in fact really upset he wanted the number to be significantly higher but thats pro family. Well this credit youre absolutely right is pro family and its pro part of a family people often forget about or dont immediately think of when it comes to Something Like taxes the older parents the grandparents youd want parents and people to take care of as they age and this incentivizes us to take care of the elderly, to look after our whole family not just perhaps children which is the easiest example to come by and i think its really good that it sets an example for people looking out for our generations as they get older so im very happy to see thats been raised. Charles lets talk about the controversial salt, state and local deductions, with respect to income tax, jenny beth its out the window. It will be a 10,000 with property, you think that compromises goods and should we be compromising . Many folks feel like the rest of the country is subsidizing these wealthy blue states to begin with. Yeah, theres something ive noticed as ive been in d. C. , today especially a lot of people who live up here are really upset about this, but i think that in other parts of the country like where i live in Georgia People are going to be looking at it going well at least were not subsidizing those high tax states with really big governments when we ourselves voted for a more limit ed government, locally so i think that there is a balance though and its important that theres a balance. You cant just hit people right out of the gate without having some sort of balance. Charles ladies i didnt mean to get on a soap box this segment but that family marriage penalty thing really bother mess thank you all very much really appreciate it. Thanks for having me. Charles next another record day on wall street the dow hits another alltime high just really it was propelled after President Trump nominated jay powell to be the next fed chair ive got one of the best in the business to help us break it down, next. 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Go your own way get your first prescription free at anoro. Com. Charles well the Dow Jones Industrial average surged to a new alltime high on a combination of that gop tax plan and of course the announcement of a new fed chief. There is major excitement over the permanent part of that 20 Corporate Tax rate. The companies can really cling on to that and that would actually propel americans to the lower taxes and allows our companies to compete with the rest of the world also it really should help spark greater investment in hiring a home. Now my biggest problem with this is the repatriation which i thought would be much lower i wonder how Many Companies would bring back money when they can borrow for next to nothing. You put that up against paying 12 and its pretty tough in fact one of those companies, apple. Just posted Financial Results in its overseas cash has swelled to 269 billion. As for the quarter where they brought in 52. 6 billion the street was looking for 50. 7 billion earned 2. 07 wall street thought they would earn 1. 87 and still very strong sequential and yearoveryear growth and two areas that people have written off, ipad mac really did extraordinarily well all the categories beating estimates almost 47 million iphones over 10 million ipads and 5. 4 million macs were sold during the quarter go along with that, strong revenue, margin guidance both coupled with the execution were seeing as the shares hire in afterhours trading and tomorrow all eyes are on the october employment report and its expected to see 310,000 jobs now of course keep in mind a lot of this is payback we lost 33,000 in september because of the hurricane disruption. My focus is on participation, hourly wages and goods producing jobs or what id love to call dirty finger nail jobs which according to adp, so far this year its up 1000 versus 2016. Here to discuss is chief economics correspondent for the wall street journal john thanks for joining. Thank for having me. Charles lets start with jay powell because the market was kind of moving along but it sort of took off hockey stick after the press conference and President Trump made it official why do you think wall street is embracing powell as the next fed chief . Well i think a lot of what we saw today was just wall street embracing the relief of some uncertainty. This question has been hanging over the markets for several weeks now and just the fact that the announcement got down and there were no big surprises was a big relief for investors. I think investors are also relieved this signals a steady as she goes policy for the fed. Jay powell for the most part was on board with fed leadership over the last few years with gradually raising Interest Rates , gradually winding down the balance sheet, so theres probably a continuity of policy which investors tend to like. Charles now President Trump on the campaign trail made a lot of promises some of them with perhaps include the Federal Reserve with respect to oversight, banking and financial oversight and what i understand is that powell is sort of on the same sheet with him in that area maybe yellen wasnt . Well you know, i think the main reason why he switched from yellen to powell was that he was looking for a change and in particular during the campaign he said he wanted a republican in that job and not a democrat so in terms of regulation, its true that powell is a republican hes more of a de regulatory mind set than yellen would have been but hes largely been on board with what the fed has done the last few years. You dont see him for instance descenting in any of the regulatory decisionmaking theyve done and he said a lot of the changes that were put in place under doddfrank not all of them were maybe perhaps they went too far but he said for the most part they made the Financial System safer. Charles talk to you real quick john about this market and where do we go from here. The jobs report tomorrow, looking for sort of a rebound if you will from september. Are you concerned about where the market is, valuations, is anything out there starting to worry you . Well the main worry is theres no worry. Thats when the investors start doing stupid things with their money and but theres a lot of tailwind in this market right now. A lot of the things were holding the market back for the last several years have gone away. What i think one of the most important of which is that the whole world weve been talking so much for the last few days about the u. S. , u. S. Tax policy , the u. S. Fed decision, u. S. Political environment but the World Economy is growing right now. Japans economy is heated up, china stabilized europe picked up after being in recession so the whole world is moving on track and thats a big tailwind for u. S. Stocks. Charles i tend to agree john always great to have you with us thank you very much appreciate it. Great to be here. Charles ive got a programming alert for you, be sure to tune in tomorrow with mornings with maria, yours truly will be there, well help discuss that jobs in america, its a special coverage of the october jobs report, over 300,000 jobs are expected youve got to watch 8 00 a. M. Eastern here on fox business. Coming up companies coming back to the United States but are the ones already here doing enough to be patriots . Were talking about corporate patriotism, next. Think your Large Cap Equity Fund has exposure to Energy Infrastructure mlps . Think again. Its time to shake up your lineup. 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A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. President trump youre skilled at your craft, you take pride in your job, and because of you, our nations trademark made in the usa is respected all over the world once again and were telling people, made in the usa is a big deal now. Were bringing it back. Charles well as President Trump welcomes broadcoms headquarters back here to the United States from singapore, it does raise questions about what exactly is the role of corporations in our country. Corporate america they do have to have some responsibility and they should bring some patriotism to the game and President Trump has been touting the u. S. Already as the most attractive place in the world to do business. Is that enough to inspire people to bring these Companies Back from overseas here back to discuss wall street journal its es senior video reporter shelby holiday. You know, i want to play a quick bite of this, the ceo of broadcom. If you listen to him and his rationale for bringing his company back to america even though the stock was going down because they may pay slightly higher taxes it will move you. Our commitment to redomicile into the United States is a huge reaffirmation to our shareholder s, to the 7500 employees we have across 24 states in america today, that america is once again the best place to lead a business with a global footprint. Charles so shelby he talked about his mother, he talked about being able to come to this country and attend mit. Hes felt a sense of loyalty to america and you have to ask yourself should that play a role in corporate decisionmaking . Ill answer that in a second but this is also a great pr opportunity not just for him but for the president and the republicans ruling out charles of course its a great pr. It was a winwin but why did he do it . It was a great speech. I think some of this has to do possibly with patriotism but if you look at the bottom line, it has to do with money, because his company, not only dodges some regulatory scrutiny, theyre trying to merge with another company. They would escape this regulatory scrutiny theyve been under and their tax breaks in singapore are set to expire, so it is a charles singapore has a 17 rate were going maybe to a 20 rate. But they had a lot of tax breaks in singapore and those are expiring in a couple years, it does make sense to move it back here. Charles but you talk, youve been an advocate against capitalism and markadis brought back the xm bank. Boeing is going with President Trump to china and other places so on one hand we see the largest of corporate america. They never have a problem taking taking taking. Should patriotism play some role indecision making even if its a small role . I dont want to be an advocate for this. I think corporations have a responsibility to their shareholders, their employees and thats to their consumers and thats already a lot and i think from the perspective of America Charles but the majority of your consumers, shareholders and employees are americans . Well but the thing is like this american versus the best we can do is create an environment whether a tax environment or Regulatory Environment that will actually provide the most vibrant, economic environment for companies to do business and i think we have to be very careful about this whole Corporate Responsibility and maybe they are good talking points, good marketing points but we have to be very careful to not be imposing goals or purposes to companies that actually may make them less effective Going Forward. Charles thats possible. It takes a few pennys off the earnings youre not down with it thats what youre saying . Well listen if this is their choice and their shareholders are good with that and their consumers are okay with maybe higher prices but let me tell you i want to reinforce the idea that the most important pro growth thing that this tax plan has done is to lower the Corporate Income tax from 35 to 20 and we should be cheering this charles let me bring shelby back in another thing that helps with the Regulatory Environment we dont necessarily have the lowest rates in the world if we get rid of regulations particularly put on in the last eight years. Thats exactly why you saw the market sky rocket a year ago when President Trump was elected because it wasnt on betting what he would do but knowing what would not be done under president and Hillary Clinton so regulation is a big part of it but Companies Like apple get bashed all the time for having all this cash stockpiled overseas. Apple creates tons of jobs in the u. S. And its an innovative giant, its something americans are really proud of and they just built a 5 billion headquarters. Charles you ladies are im putting you in a request for one of his relatives for the next time we do this segment thank you both very much appreciate it thanks charles. Charles next a big day on capitol hill coming up former congressman joins me to break it all down and also down in brazil , just do on their bus well be right back. Zar one of our investors was in his late 50s right in the heart of the financial crisis, and saw his portfolio drop by double digits. It really scared him out of the markets. His advisor ran the numbers and showed that he wouldnt be able to retire until he was 68. The client realized, i need to get back into the markets i need to get back on track with my plan. The Financial Advisor was able to work with this client. Hes now on track to retire when hes 65. Having someone coach you through it is really the value of a Financial Advisor. Whoooo. I enjoy the fresher things in life. Fresh towels. Fresh soaps. And of course, tripadvisors freshest, lowest. Prices. So if youre anything like me. Youll want to check tripadvisor. We now instantly compare prices. From over 200 booking sites. To find you the lowest price. On the hotel you want. Go on, try something fresh. Tripadvisor. The latest reviews. The lowest prices. Charles breaking news on former dnc interim chairman, saying the dnc was rigged in favor of the clinton campaign. Thats from Donna Brazile. Just moments ago Elizabeth Warren said yes. This is on another network. I have got to tell you something, this is not necessarily news, but its a heck of a revelation that not you Republican Party starting to distance itself from the clinton machine, if you will. Jason, this revelation, its shocking in the sense that maybe thats what that Democratic Party needs to go through. They need to be on thest and cleanse themselves. The clintons took the control of the dnc and the campaign. If the president ial campaign was rigged by anybody, it was rigged by bill and hillary. Joint operating agreements are common in politics. You could go to a big donor and have them write a check to an entity that is made up of your personal campaign, the leadership pac and the National Party. That money was supposed to be divvied up. But the money was being funneled back to the National Party and the contract dictated that Hillary Clinton got to control that money. The world i come from thats called money laundering. If true, the department of justice should be all over this. You have Donna Brazile make strong claims. You have Elizabeth Warren coming out saying it was rigged. But there are reasons why we have Campaign Contribution limits. It looks like they were circumventing this to make sure Hillary Clinton was the democratic nominee. Charles rrm essentially the clintons bailed out the dnc, then took total control of the finances. You cant do that. There is a reason why the individual campaign limit per cycle is 2,700. But when a big donor makes a big donation to the state party and the dnc leans on the state party to give that money back to the dnc because the personnel are controlled by Hillary Clinton through a contract. Its something the department of justice should look at very deeply. Donna brazile said it took her to tears because she had proof that it was set up in favor of Hillary Clinton. I feel bad for the Bernie Sanders and the other candidates. They never had a shot. Charles this comes on the heels of more revelations 20s clinton and the russia uranium deal as well. [ ] lou good evening. Im david asman in for lou dobbs who is on vacation. Breaking tonight, House Republican leaders urn veiling their long awaited tax plan targeting our middle class. Saying the legislation is exactly what America Needs to trigger Economic Growth. President trump we are cutting taxes. It will be the biggest tax cut in our history. This is going to bring it to the next level. David well get reaction from congressman tom reid and sean duffy. A busy day for the