obama. two words i don t think we ll hear tonight on the economy, thank, obama! neil: you never know. welcome back. i m neil cavuto. i want to bounce that off of roy blunt from missouri. what chuck schumer is saying this is president obama s recovery. what do you think of that? well, what we really saw with president obama was a static economy where families could getting a little further behind and we saw that for eight years. so i don t see how you re going to tell that to the american people in a way they believe it. they can see that something dramatically different is happening in the economy. i think the fourth quarter of the first quarter of this year is going to be substantial where regulators who are no longer out of control, judges that are do their job rather than trying to legislate from the bench and really a job-creating tax bill is making a big difference.
how do you know that? i don t have a fortune telling license or anything like that. i can tell you when you lower the corporate rate that has us right now highest in the developed country, not just europe, across the world people are paying lower taxes and we ve got to get that corporate rate down. they ve got a low aer rate i europe and it s practically got a static economy. we re running on hope here that the extra cash that corporations they have will be used for investment whereas right now they re not using it for that you need to get more money in people s pockets. i think rates should be lower but you want to broaden the base. the border tax idea was one idea to do that. it s a terrible idea.
what about on the business side? what do you want to do there? there s as you know, there s a significant amount of offshore earnings that could be repatated back in. and there s others in the business space, some deductions that are popular with some constituencies that might be able to be scaled back. we re going to be looking at everything on the able to to start with. there s some deductions that are very important. home mortgage interest, charitable giving. beyond that, there s others that might find some room to help offset the costs. we re going to get additional growth. this is not a static economy. when you change policy, you change behavior out there. people start investing and taking realizations and more taxes. growth is a big part of how you get there in terms of revenue. you had an intriguing business plan.
the first recovery in which median household is doing worse now than at the start of the rovry. it s not a recovery for most people. that propels a political change. people are angry. they feel like the system is rigged against them. after you unveiled the progressive agenda argued fairness is important. it went on to argue that advancement has changed the economy completely. what do you say to those who argue that the agenda does not include what you do to deal with technology that we didn t have 10, 20 years ago. i would not say it is part of the dynamic we are i think it s wrong to suggest we have a static economy. the economy keeps move lg in different directions, right? we have a lot more service jobs and retail jobs than we used to have. we ve seen that the absence of government intervention has
middleclass. it argued fairness is important. it went on to argue that technological advancement has changed the economy completely. what do you say to those who argue this does not include with what you deal with technology that we didn t have 10, 20 years ago. i would not say technology and globalization are not part of the dynamic experience. but it is wrong to suggest we have a static economy it keeps moving. we have a lot more service and retail jobs than we used to have. we have seen the absence of government intervention has caused a plummeting. the natural response is to put the foot on the pedal and bring those back up again. as the middleclass shrinks, it is harper for the poor to move into the middleclass. there are fewer places in the middleclass. we need to have an expanding middleclass. what happens if we do. in terms of big money in