tv Risk and Reward With Deidre Bolton FOX Business October 11, 2017 5:00pm-6:00pm EDT
>> david: we had a lot of fun and a huge reason to celebrate we have been in the competition over cnbc for the last four quarters in a row. such a pleasure to be here with you. >> melissa: we love it thank you for watching we owe it all to you here is risk & reward. >> president trump: jobs jobs jobs. jobs, we need jobs, our jobs have left us. take our jobs, that take our companies. we're going to stop that very very quickly. middle class tax relief and simplification act and economic plan designed to grow the economy. >> we're going to fix our inner cities and we're going to get jobs. >> president trump: your jobs will come back under a trump administration. >> liz: this hour president trump will take his personal pitch for tax cuts to our nation
in a speech in harrisburg, pennsylvania that's happening this hour. the president will say his tax cuts will be a boom to the middle class we're on it. truckers are at the heart of the u.s. economy solidly middle class transporting the goods and products of america, as the president says, when trucks are moving, america is growing. welcome to risk & reward i'm elizabeth macdonald. democrats in media still talking about the nfl protest and liberal hollywood mogul harvey wine stein sexual harassment stand all but the president is still fighting to help americans with his pro growth tax cut plans and investors like what they're hearing all three major averages closing again at record highs today with the dow ending the day up 42 points at 22.872. that is just over 100 points shy of the 23,000 mark. let's bring in former trump campaign spokesperson now with america first policy is the profit started by trump campaign aids looking at her katrina pierceon. good to see you.
>> great to be here thank you. >> liz: what should we expect from the president tonight? >> i think we'll see more america-first policies and you really can't get any more america first than american truckers. those are the ones literally keeping our economy moving and those are the ones who have been hurt by the burdensome policies of the past so i think what you'll hear more about are the tax cuts that this president has been talking about. he's been talking about campaign ing for the middle class we're talking about keeping the economy moving and more importantly growing the economy. that's going to be key to everything and you're going to hear about that tonight. >> liz: but katrina what's not moving is the establishment gop. why can't it get its act together in tax cuts. they got re-elected for about eight years now and about a month of working days to get tax cuts done. will they get it done? >> katrina: i hope they get it done. you're essentially going out telling all americans they're going to deny them a potential $4000 increase in their wages because they're wanting to
protect their special interests and that's what's really being uncovered here. you're seeing those politicians who talk a big game during campaigning but really only one that's pushing that envelope and it is president trump, so new year going to see which politicians are going to move forward particularly on the republican side. tax cuts are a part of the platform. we're wanting to empower people, encourage entrepreneurship and put more money in people's pockets so we can grow the economy and now they're put to the test. >> liz: does america's heartland get up at the media but does not. i've heard a lot of arguments out there in the media about what the president is trying to do. he's essentially saying his argument is to bring back industry and stop the war in business and by the way katrina he sounds like jfk and reagan. let's take a listen. >> will include and across-the-board top to bottom cuts in both corporate and personal income taxes, it will include long-needed tax reform that logic and equity demand. every dollar released from
taxation that is spent or invested will help create a new job and new salary and these new jobs and new salaries can create other jobs and other salaries and more customers and more growth. >> we invented the assembly line and mass production, but punitive tax policies and excessive and unnecessary regulations. we were once the greatest producer of automobiles, producing more than all the rest of the world combined. that is no longer true. we must not be timid. we will restore the freedom of all men and women to excell and to create. >> liz: katrina why do the democrats and media forget this u.s. history brought by reagan and kennedy? they cut taxes both of them by about a quarter and federal tax revenues came pouring in. this is not our parent's democrat party. how can the democrats and media don't get it and american heart land gets it? >> well i think the democrats and media do get it however there is this push to continue to divide people in this country
, push to continue to turn people against president trump but as you just played it doesn't matter if you're republican or democrat. we saw this when we saw blue states turn red in november. the people want a common sense tax policy and president trump is going to speak about that tonight because this does make sense. we have to get back to what really matters and that is the working class. >> liz: kennedy was talking about 5% growth, if you want 4% growth you got to get more people with jobs and money to spend because that's what the u.s. economy is built on, right? >> well absolutely and that's exactly what this president is trying to do and we have seen movement particularly in manufacturing just by removing some of the regulations and the policies he's already been able to do by executive order. that is a clue. just this week we were hearing that we could go from 1.9% gdp almost double that with this policy alone and it's time to put americans first and what you'll see tonight is as president trump really put out what is going to separate him from the gop establishment and it's all going to play out in
the next few months. >> liz: katrina good to see you come back soon. >> thank you. >> liz: president trump will be speaking this hour we'll bring it to you live about his tax cut plan and how he's bringing growth back to the economy. he will be talking to truckers. he also wants to talk how he wants to make it easier for families to pass their businesses like their trucking businesses on to their own children. we have an early look at what he will say. this comes from the white house. here is what the president will say. "when your trucks are moving america is growing. that is why my administration is taking historic steps to remove the barriers that slow you down. america first means putting american truckers first. we welcome truck driver matthew began" with me now from louisville, kentucky good to see you matthew. >> thanks for having me on liz. >> liz: what do you think of the president's tax cut plan for truckers like yourself? >> well, to be honest with you liz i don't pay a lot of taxes. i really don't. i make a solid middle class income and i barely pay any taxes, so a tax cut for me is
going to turn into really a return, you know, on april 15. i'm going to get some money back which is nice but what i'd rather have is a raise and what i'm happy that he's cutting these corporate taxes down. i would even like to see him cut down the top marginal percent even another 5% because that money in the owner of my boss' company is going to just get invested right back into me and i'm going to end up making more money. i mean if the plan comes to fruition like he says it is we're making $4000 per year more on average and that's way more than i'd ever get back in a tax return. >> liz: matthew, the media and the liberal media, the progressive liberal media, the progressive liberal democrats saying do you know what? truckers like, you matt you've got it all wrong. this is about helping us wealthy and the rich. that's what bernie sanders and elizabeth warren say and what would you say to them? >> well, i'm not sure what the owner of my small trucking
company pulls down from running his business but i don't think he's a rich guy. he's a former truck driver himself and i'm confident that if he were to have that money put back into his pocket, he would invest it right back into me and into the company and that's what's going to make the economy move at the end of the day liz. >> liz: you know the president will say tonight, actually in this hour, that he thinks and feels that truckers like you, like the middle class working folks that you guys, you men and women you're the lifeblood of the u.s. economy but msnbc stephanie rule told former fast food ceo andy poster that people don't want jobs like truckers let's take a listen. >> looking at the right ways to increase wages and improve jobs, i mean to say we're going to end the war, there's not a war on coal whether it's an environmental argument or an economic argument doesn't make sense to be in that business . the president says we're going to bring back trucking jobs. there's a surplus in trucking jobs, people don't want those
jobs, so are we looking at the right industries in terms of creating better paying jobs? >> liz: is that true, that people don't want trucking jobs? >> well i don't think that's true at all, liz. what i think is the fact is trucking is a difficult industry driving trucks, being out on the road for weeks at a time, being away from your family, it's hard you really have to game plan in all kinds of creative ways you never thought of before and on top of that, you have to know all of the regulations. you got to be a smart person to drive trucks. >> liz: matt stay on that for a second here is the point. sure. >> liz: msnbc hosts and democrats in congress i want them to take off for a year and try to build a business under the tax policies and the regulations that were built under the obama administration. you know, matt if those policies were so state-of-the-art and so picture perfect, we would have more jobs right now for the middle class, right? this is a pretty idiosyncratic thinking that's coming out of msnbc right? >> matt: oh, yeah, i'd say so.
i mean, these jobs they need to be out there. we need more of them available for sure, and where that comes from is you put money in the hands of entrepreneurs, people who are willing to go out there. your shows called risk & reward. they're willing to go out there and take the risk for the reward but if you put a strangle hold on them in the form of taxes they won't take that risk. >> liz: matt we love having you on here smart guy. we look forward to your thoughts about the president's speech thank you again. again the president will be speaking live this hour about his tax cut money and how it will help the middle class and the trucking industry so he will be speaking directly to truckers and also those middle class working folks. now we got to get to this story. deadly wildfires continue to rage across northern california. now, at least 21 people have been killed so far, over 170,00. nearly 20,000 residents forced to evacuate. this is ruining a lot of small business businesses, and
entrepreneurism in that area including the big napa wine industry. let's take it to hillary vaughn on the ground in the napa area with the latest. hillary? >> reporter: liz hundreds of people are still missing as these fires continue to grow and rage through california wine country. we talked to residents who had to evacuate this area. many of them waiting in lines by the police roadblocks trying to get inside their neighborhood to see if there are any homes left to live in. here is how they describe the evacuation. >> i woke up and i looked outside and it looked other worldly. it didn't seem like this world. i mean all the smoke and you couldn't breathe and it just seemed like something post apocalypse. it was just horrible that, you know, i grabbed the right thing. i grabbed my dog. >> this is actually mom's home. so the hardest part is worrying
about getting her out because the fire had blocked the driveway. the house is gone, so we're hoping that the cats didn't go to cover in the house. that's all you can hope for at this point and that's all she has to hold on to. she got out with her bathrobe and hearing aid. >> liz, you can see the vineyard below has been untouched but this white haze is smoke that has been building up as the fire s in the surrounding areas continue to grow but i want to show you the fire has already cut through this area. this was a tasting room on site he cinderella winery and it's now rubble. they will have to build it back up from the ground up and one thing that's important to note is that these wine tasting rooms bring a lot of business to these wineries. the neighboring winery they told me they bring in about $20,000 a day just in wine tastings so as long as they're out of commission and as long as these
evacuation orders are in place a lot of them are out of business essentially because they can't have people visit their wineries we talked to one wine owner who says he fought some of the fires himself. >> i'm getting all my operations back up and running. i expect to be harvesting fruit tonight so i just have to find the right place to do that, to keep going and sort of maintain the normal harvest. my biggest challenge now is not manpower. it's access. there's so many roads that are closed that have of the vineyards that i would like to go to are off limits so i just can't go and i have to be patient and we'll live. i mean the temperatures are 70 degrees. it's certainly smoky at the moment. i'm not worried about smoke damage yet but in another week, i will be. >> reporter: liz a red fire alert has been issued, a red flag alert has been issued for this area starting at 5 p.m. tonight which means fire officials expect the fires to
continue to grow and they are on the move threatening thousands more homes and businesses in the area. >> liz: thank you hillary vaughn please be safe out there thanks again. coming up, on the rachel show accusing nbc of killing his harvey winestein. we've got that sound this as president trump is also now threatening nbc of what he calls its fake news. hillary clinton has been hitting the media circuit for her new memoire saying she lost due in part to sexism and for five days hillary was awol on the winestei n sexual harassment allegations, the very same type of sexism she lost the election for and that panel will debate that and we are awaiting president trump on talking about his tax cut plan tonight in this hour. he's about to announce the initiative that could also stop liberal silicon valley companies from stashing their cash overseas to pay lower taxes he wants them to bring that money back home to help create
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>> liz: president trump this hour will to the his tax cut plan at a pennsylvania event with truckers, he's expect to talk in this hour. he's going to talk about how his tax cut plan will bring back corporate off sees cash. here is an advanced look at his speech. this comes from the white house. "we will eliminate the penalty on returning future earnings back to the u.s. and we will impose a one-time low tax on money currently parked overseas, so it can be brought back home to america where it belongs." my council of economic advisors estimates this change alone would likely give a typical american household a $4000 pi
raise. estimates show that more than $2.5 trillion is stashed overseas and some estimates for moody's put us at 1.3 trillion. that money not subject to u.s. taxes unless it's brought back home. that's about if you look at 2.5 trillion that number alone is about a seventh of the u.s. economy, nearly 3.5 times than it was in 2008 but despite their coughers of cash overseas, capital spending by u.s. companies look at this dropped by almost a fifth last year to just $727 billion and i say just because its been a lot higher in years past. let's bring in joe the plumber. joe with me now good to see you joe. >> joe: hi, liz. >> liz: what do you think of the president's corporate tax cut plan? >> joe: i think that it's great i mean, whenever you cut taxes, things good things happen for american people. there's a standard of living that i lick and there's a standard of living that most middle class americans like and they want to be able to keep that standard of living.
whenever you start raising taxes it hurts that standard of living so corporate tax cuts, the tax cuts that he's talking about across-the-board are great. now i think it's a good start and i know we're not here to talk about it but i'd much rather see the fair tax implemented. i've always hated to name a fair tax because you and i are adults and we know life is not fair but i think what donald trump is doing is a good start in the right direction. >> liz: d.c. has been in such a bubble since the d.c. per capita income in washington d.c. the metro area is higher than silicon valley by some estimates due to all of the government spending. now, here is the thing if you cut the corporate tax rate, that means people who run businesses will feel oh, it's nicer and more comfortable to keep the money here and grow the business here and do you know what's really interesting, joe. silicon valley tech companies, apple, google, microsoft alone are hording $464 billion. they've got a lot of money overseas, joe. >> joe: well absolutely slightly and quite frankly they do that for one reason.
it costs too much money to do business in america and the republicans are just on the hook as much as the democrats are for this one. it cost a lot of money to do business and when you're a business owner you want to make money, provide for your family, you want your employees to make money so when it becomes cheaper to do business overseas we failed here. our politicians have failed when they're sitting there supposed to be good stewards of our tax money and giving colleges all kinds of different money to do studies that we don't care about one study i read about they're studying homosexual's love life in south america. that doesn't mean a hill of beans to me or the other god loving american out there. they got to stop spending the money like drunken sailors. i know that's an insult to drunken sailors but quite frankly, we need these politicians republicans and democrats to be better stuarts of our money so give them less and work with less to do more. >> liz: it hasn't been so state-of-the-art you're right what government is doing and the european union, joe and you've been on top of this too, they have been saying to apple and
amazon, do you know what? we need a live el playing field here. you get tax breaks you should not be getting from certain countries like ireland and luxembourg, you'll no back taxes to the european union, the u.s. we better get that money back home before the european union takes it but joe what's really striking is you've got a pretty sophisticated argument but there is this d.c., new york henhouse beltway echo chamber going on. people disagree with you they would say you are wrong. what do you say to that? >> joe: well if you bring that money back, say the business owners decide to keep it and put it back in there, that actually helps the people with 401 (k). that helps their retirement so in essence, it is helping middle class but these people didn't get in the business because they're stupid. they're smart so they reinvest that money into their businesses and core businesses and create more jobs, more revenue, have more people having a better standard of living. these people who don't want this to happen ultimately come down to one thing, control. they want to divide it to class
warfare and keep them in power. >> liz: do you know what, you'll hear this argument tomorrow that when george w. bush lowered the tax rate to get the cash back home that companies used it for stock buybacks and for dividends we get that. we are really talking about also the little guy, the small businesses who need the tax cut to grow jobs, right? >> joe: yes. but president trump or president bush didn't have the plan that president donald trump has moving forward to make america great, but there's a strategy here and i think that's what we got to get behind. >> liz: joe the plumber we love having you on come back soon. >> thanks, liz. >> liz: again we're waiting president trump about to start speaking on his tax cut plan. he is in pennsylvania. we will bring that to you live when the president starts. accusing nbc of killing his wine stein this as president trump is also threatening nbc over what he calls more fake
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>> liz: we're awaiting president trump whose about to start speaking on his tax cut plan in pennsylvania. we will bring his speech to you live when he starts speaking. liberal hollywood film producer harvey winestein has flown to europe for private counseling and rehab after multiple accusations of sexual harassment analysts note the u.s. does have extradition policies in place with european countries, and situations where american citizens face charges back home, nobody is saying that's happened now with harvey winestein, a housekeeping note. meantime reporter ronan farrow told msnbc that months ago nbc executives declined to run his investigate in expose about winestein.
that was of the italian model being pressured to watch him naked in shower. watch. >> so you just said one of these women spoke on camera back in january. why did you end up reporting this story for the new yorker and not for nbc news? >> you'd have to ask nbc and nbc executives about the details of the story. i'm not going to comment on any story they did or didn't run. i will say that over many years, many news organizations have circled this story and faced a great deal of pressure in doing so and there are now reports emerging publicly about the kinds of pressure that these organizations face in this and that is real and in the course of this reporting i was threaten ed with a lawsuit personally by mr. winestein, and we've already seen the times has been publicly threatened with a suit. i don't want to describe any level of other organizations i work with. >> liz: he was also tried by nba ca cording to news reports rachel said the story was un
reportable and unpublishable. now she gave the story to the new yorker magazine published yesterday and here is an nbc news official rationale for not airing the report months ago. "we reached a point over the summer whereas an organization we did not feel that we had all of the elements that we needed to air it. ronan wanted to keep forging ahead so we did not want to stand in his way and he took it to the new yorker and did a ton more extra ordinary work suffice to say the stunning story the incredible story we all read yesterday was not the story we were looking at when we made our judgment several months ago. " let's bring in media research center director tim graham. tim good to see you. >> tim: thank you. >> liz: ronan has something, information in the summer. does this explanation from nbc make sense to you? >> tim: well that's not what he told rachel maddow. he said the story he brought to then was a finished story and he apparently did have this audio tape when he presented to nbc.
i think what you're looking at here is a network that just decided they did not want to be first. you know, it's funny how news organizations they think they want to be first. this is a little like the access hollywood tape where nbc had the tape and the washington post reported that story in about 24 hours. they didn't have a lot of caution. they ran with it. >> liz: you're talking about the trump case? >> yes. so it's funny nbc doesn't want to be first on these stories, so yeah, the fact that they've having farrow on now on msnbc letting him talk about this at length shows you that look, where were they when this story broke in the new york times? nbc nightly news did nothing. nbc owned access hollywood did nothing. saturday night live had no joke and then on sunday, the wine stein company lets harvey go and suddenly it's news. >> liz: tim what do you make of the fact the obamas and hillary
clinton took five days to respond? hillary clinton is on a book tour for her memoire in which she blames massage en it and sexism as partly why she lost the race for the white house. that's right in the wheel house of the winestein allegations were all about, right? >> tim: i think there's easy answers. one, you got them on the phone and two they're morally compromised and the obamas sent their daughter to intern for this guy. that's got to be embarrassing as king plus his massive donation s to democratic candidates is embarrassing but i think again part of it is they're just waiting sort of to be the media to force them to do it, and so it took that long for them to actually put out a little tony statement. >> liz: tim graham good to see you we love having you on come back soon. >> tim: thanks. >> liz: breaking news president trump nominating white house deputy chief of staff to be the next secretary of homeland security.
nielsen will replace john kelly who left the department of homeland security this summer to be president trump's chief of staff. nielsen was kelly's top aid and she is a cybersecurity expert and an attorney. next up we're awaiting president trump whose about to start speaking on a tax cut plan in pennsylvania and we'll bring that to you live when he starts speaking. hillary clinton hitting the media circuit for her memoires saying she lost due to sex in among other things and after five days hillary was able in the winestein sexual harassment allegation and the panel debates that, next. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country.
>> liz: president trump about to make his appeal for tax cuts to the nation's truckers in harrisburg, pennsylvania going to say when hard working truckers are on the move america grows. many of the truckers solidly in the middle class. former house speaker newt gingrich weighed in on the president's tax cut plan and he says he's confident cutting the corporate rate will give us over 3% growth. watch. >> you starting to get over 3% growth if you get that plus 20% or less corporate rate plus a break for small business, you break 4% next year in my judgment. >> liz: joining me now kelly grace gibson and conservative review correspondent daneen bore lli. good to see you both. >> thanks for having us. >> liz: 90% of the business income is reported on the income tax return. 60% of businesses in the u.s. reporting the income tax return. i think you get it. i think some of the media don't
get it. it's america's heartland do they get it? >> oh, absolutely and i think it's great that the president is in pennsylvania with these truck drivers. i co-host radio with my husband on a regular basis. we talk to actual truck drivers. they know what the tax reform will do for their small businesses for their companies, and in a lot of cases this is what america wants and president trump is putting the forgotten men and women first, america first. that is what we've been hearing since he was running for office and that's what we're still hearing. >> liz: kelly many democrats say they don't recognize their party j.p. can supported tax cuts and so did ted kennedy, bill bradley , when did the democrats become so hostile to tax cuts helping small businesses? >> well i think it's the scope and width of this giant tax reform is that it hasslements of it that are just meant to say taxes i'm the most wealthy in this country like the removal of the estate tax, the across-the-board reduction in corporate tax regardless of the
size of companies but there are elements of this that yes, will give a break to the middle class but it's way out weighed by the breaks that will be held by the richest in the country. >> liz: oprah, steve jobs, larry schultz all started out poor and went up in the brackets right? two-thirds of-- sure but they have a ton of money now. >> liz: hang on two-thirds of american households, two-thirds of american households get more in the way of government benefits than they pay into the system is a fact right? >> well listen, it's important for i think best for americans to have more money in their pocket. cut the taxes, make it more simpler, and listen, the corporate tax rate the president is looking to cut as well means more innovation, they can reinvest, increase wages. >> liz: the point is the u.s. government has gotten way too big. $20 trillion debt we got to hit this story hillary clinton hitting the media circuit for her memoires saying she lost due to sexism among other things. for five days hillary was mia on the winestein sexual harassment
allegations the very same issue of sexism there. hillary finally says she is " shocked and appalled" but somehow hillary at times talked to uc davis students about president trump, nfl protest even global warming never mentioned winestein. the obamas both not mentioning the campaign donation or whether they will return that money. now given the clash with the democrat party doesn't this tell you just how the democrats are to hollywood alienating the working class? >> listen it's all about money and power. it's not about women. i mean it would have came out early on right away to condemn what harvey winestein is allegedly has done with all these women, over 30 women that have come out now. >> liz: with allegations right? >> right. it's about money and power. >> liz: kelly, cnn reporter aaron bernett said she took a swipe at hillary's lack of response in waiting. here is a tweet. hillary spoke for 90 minutes to not mention harvey wine stein.
she will not give women a pass who didn't vote for her but she gave him one. kellyanne conway it took hillary five minutes to blame the nra from the rampage in vegas to five days to blame harvey wine stein for his sexual assaults what are your thoughts there? >> i think hillary clinton is not a fitting elected official. >> liz: but she's on tour. >> she is on the record over and over condemning sexual violence and supporting survivors unlike the president of our country whose on tape admitting to sexual assault. and in 2017-- >> liz: can you please answer why it took five days? >> she shouldn't have to say it. >> liz: why five days? >> she shouldn't have to say it. >> liz: why? kelly, will the clinton foundation give back the wine stein money? >> i don't know i don't run the clinton foundation but in 2017 you shouldn't have to tell the public that it's wrong to sexually assault women. >> liz: she's quick to come out on other issues and other
comments and supposed to be the so-called champion of women. >> liz: thank you so much really appreciate your time we are awaiting president trump. he's about to start speaking on his tax cut plan in pennsylvania we're going to bring that to you live when the president starts speaking but first another outspoken espn analyst this time comparing cowboys owner jerry jones to a plantation slave owner, over his demand that his athletes respect the flag on the national anthem. former nfl great wondering what does it take to get fired at espn, that's next.
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>> liz: president trump about to to the his tax cut plan at this pennsylvania event in harrisburg with truckers here is the president let's start listening. >> [triumphant music playing ] >> president trump: thank you. thank you very much, ladies and gentlemen. it's great to be back in pennsylvania with the proud men and women of the american trucking associations. >> [applause] >> president trump: we love pennsylvania and we love our
great truckers. >> [applause] >> president trump: i also want to thank all of our wonderful members of congress who are here with us today. should i read their names? yes? >> [applause] >> president trump: then i will. representative lou barletta. great guy running for governor. he's running for the senate. he's running for where is lou? so i heard he was running for governor but when he heard he was running for the senate. he's going to win big, you're going to win big, lou. >> [applause] >> president trump: good luck. a friend of mine for a long time , representative mike kelly. >> [applause] >> president trump: thank you mike. tom marino going to be the drug czar, going to do a great job, thank you tom. will be amazing, the drug czar. patrick mehan.
patrick? [applause] >> president trump: thank you patrick. scott perry. >> [applause] >> president trump: scott, and lloyd smucker. >> [applause] >> president trump: lloyd thank you. thank you. i also want to thank a couple of very special people that have been fantastic in what they've done, secretary of the treasury steve mnuchin whose here somewhere. steve? and gary cohen, director of the national economic council thank you, gary. thank you. >> [applause] >> president trump: and the speaker of the pennsylvania house of representatives, thank you, mike. >> [applause] >> president trump: i think that's enough, right? that's enough. >> [applause] >> president trump: we'll start losing the crowd, mike. before we begin, i want to take a moment to address some of the recent tragedies that have struck our incredible nation. in the darkest moments, the
light of our people has shown through mike seldom before, their goodness, their courage and their love. no destructive force on earth is more powerful than the strength and resilience of the american people. >> [applause] >> president trump: we are praying for all of the families affected by the horrific mass shooting that took place in las vegas. we grieve with you and we will never leave your side. our hearts are also with the victims of the wildfires in california's napa and sonoma valleys, and they are wild and dangerous fires and we have fema out there right now along with a lot of first responders, doing an incredible job with everybody else and they really have done a very incredible and very dangerous job. my fema people are incredible.
>> [applause] >> president trump: proud of them. [applause] >> president trump: we've issued a disaster declaration and are working closely with state government, the recovery effort is fully underway for those impacted by the recent catastrophic hurricanes. through these difficult times, we have witnessed the unbreakable spirit of our nation together we will restore, rebuild and return stronger than ever before. that's what's happening. >> [applause] >> president trump: we are here today to discuss our vision for america's economic revival which has already started. it started on november 8. >> [applause] >> president trump: we want lower taxes, bigger paychecks, and more jobs for american truckers and for american
workers. >> [applause] >> president trump: nothing gets done in america without the hard working men and women of the trucking industry. do we agree with that? >> [applause] >> president trump: thank you, so much. for the job you do. when your trucks are moving, america is growing. do you agree? >> [applause] >> president trump: that is why my administration has taken historic steps to remove the barriers that have slowed you down. america first means putting american truckers first. >> [applause] >> president trump: since january of this year, we have slashed job killing red tape all across our economy. we have stopped or eliminated more regulations in the last eight months than any president
has done during an entire term. >> [applause] >> president trump: that includes eliminating the regulations that drive up the cost of energy. we want low cost fuel for our truckers and for our families all across this country, and we are just getting started, believe me. just getting started. >> [applause] >> president trump: i've ordered every agency across federal government to review and then remove the regulations that destroy your jobs, hamstring your companies, and under mine your ability to compete. my administration is also committed to passing a historic infrastructure package that will generate $1 trillion to rebuild america's crumbeling infrastructure with a special focus on roadways and highways.
>> [applause] >> president trump: it is time to take care of our country, to rebuild our communities, and to protect our great american workers. it's about time. >> [applause] >> president trump: and already we are seeing incredible results results that in many cases the media hates to report, but i'll report them tonight for you. unemployment is at a 16 year low . >> [applause] >> president trump: wages are rising and you know you haven't heard that in a long time. >> [applause] >> president trump: the stock market is soaring to record levels boosting pensions and retirement accounts for hard working americans. their values are going up every
single day. >> [applause] >> president trump: and very proudly just in the stock market alone, we have increased our economic worth by $5.2 trillion, that's right since election day, 5.2 trillion. >> [applause] >> thank you. >> president trump: think about that that's a quarter of the $20 trillion that we owe, so we've already, but listen to this, because we've doubled in the last eight years of the previous administration the debt doubled, so that in eight years, our debt literally, hundreds of years of debt, doubled in eight years to $20 trillion, but since the election on november 8 i've increased the value of your u.s. assets by more than the $20 trillion that we currently owe. >> [applause] >> president trump: you haven't heard those numbers.
gdp growth reached more than 3.1 % last quarter, way ahead of schedule. we weren't supposed to hit that number for a long time. >> [applause] >> president trump: not for a long time. and i will tell you, i think this quarter would have even been better but we did get hit with some very very powerful hurricanes, but it's still going to be very good. manufacturing confidence is at an all-time high which is great news for those who ship products to the marketplace. the confidence in our country is back like it hasn't been in many many years. >> [applause] >> president trump: the fact is america is finally back on the right track, but our country and our economy cannot take off like they should unless we transform america's outdated, complex, and extremely burden some tax
code. >> [applause] >> president trump: and that's why i'm here with you right now, tonight. thank you. now we're going to fight and we're going to get those republicans and maybe a few of those democrats to raise their hand and you're going to have so much money to spend in this wonderful country. and this great economy and that is why we've proposed tax cuts that are pro-growth, pro-jobs, pro-worker, pro-family and pro- america. >> [applause] >> president trump: we need a tax system that is fair to working families and that encourages companies to stay in america, grow in america, spend in america, and hire in america.
>> [applause] >> president trump: throughout the year, my administration has worked closely with congress to develop a frame work for tax reform that will deliver exactly that. more jobs, higher pay, and lower taxes for middle income families , and for american businesses of all size. >> [applause] >> president trump: our tax reform framework will achieve our four core principles. first, we will cut taxes for every day hard working americans. >> [applause] >> president trump: under our framework, the first $12,000 for a single individual and the first $24,000 for a marieed couple will be tax free. no tax at all. >> [applause] >> president trump: and remember, you'll do your tax on a single piece of paper.
>> [applause] >> president trump: h & r block will not like donald trump very much that's one company i will tell you. they won't like me at all and that's okay. we are nearly doubling the amount of income that is based at the zero bracket. in other words, as the democrats say, and do they say, you look at what's happened, they're not telling you the truth because they pretend there isn't a zero rate and there is and it's expanding very substantially under my plan. they don't show the zero rate, so they go oh,, 15% or 12% against 15 but it's not. it's 12% against zero. you take a look at the categories, so we're bringing it down remember from eight bracket
s to four, but they're forgetting to use the 0 bracket which truly is deceptive do we agree with that? it's truly very deceptive. >> [applause] >> president trump: under our framework, we make the zero bracket bigger, and get rid of the 10% bracket and where we reducing the 15% rate down to 12 % so it's a massive amount of money. so the rates are coming down to 0, 12%, 25% and 35%. all big beneficiaries from what you have now. big beneficiaries from what there is like you haven't seen before. joining us today, is susie shaw man, a retired airman from pennsylvania and i grew up in
queens and went to school in pennsylvania and i like them both. where is susie where are you susie? hi, >> susie says high taxes are forcing seniors like her to make painful cuts and cutbacks during the golden years of their lives. the best years of their lives. she hopes congress will pass a framework so we can help more american seniors make ends meet on a fixed income framework. we must honor and respect the people hospital decades of hard work built our country and helped make our country great. but we are going to make our country great than before.
that's what's happening. our framework also provides relief to those who care for an adult dependent or elderly loved one with a $500 tax credit. so important. and we'll substantially increase the child tax credit to save working families even more money. the single most of important investment our country can make is in our children. the strength of our nation is determined by the strengths of our families. we are committed to make starting and raising a family more affordable. also with us is a mother of four
who provides private nursing services and at home care. lorene says that if congress passes tax we leaf and reform she'll be able to create more high-paying jobs for healthcare workers in the scranton area. that's an area we love. i will tell you that. our framers will unlock the american dream for millions of our fellow citizens by eliminating tax breaks and special interest loopholes that primarily benefit the wealthy. our framework insures tax reform go to the middle choose, not to the highest earners. it's a middle class bill. that's what we are thinking of. that's what i want. i have had rich friends of mine coming up to me saying donald, you are doing this tax plan.