Biden wants to nix Trump corporate tax cuts in favor of climate plan

Channel: Fox Business
Published: 10 hours ago

Description
Former Reagan economic adviser Art Laffer on President Trump’s threat to slap new tariffs on Mexico and Vice President Joe Biden’s $1.7 trillion climate change plan. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Ma...



Transcript
Doubling down or is he president trump elaborating on his threat to impose tariffs on mexico during a news conference in london earlier today? Listen to this, this will take effect next week and what time percent we are going to see if we can do something, but i think it's more likely that the tariffs go on and we'll probably be talking during the time that the tariffs are on and they're Gon na be ...
paid, but now some breaking news that just came in a few minutes ago. Vice president mike pence is expected to meet with the mexican foreign minister at the white house tomorrow. Joining us now is our laugher former reagan economic advisor. Let me giveyou a little bit more color from this breaking news that we're just getting right now, i'm the mexican foreign minister was asked if he thinks the president is bluffing. He laughed, and he said, ask me on friday, but the foreign minister also saying that he's optimistic that the trade dispute is going to be settled earlier this morning at a press conference. He said that he was. I want to get this perfect that he was confident they're going to be able to make a deal on wednesday, so you have the mexican foreign minister right now at this hour, making comments and sounding very optimistic about this trade deal. Aren'T you have the president taking a toughline playing bad cop while he's overseas? Now we know the vice president is going to host the foreign minister at the white house tomorrow, wednesday. Give me your thoughts. How do you think this is playing out? I think it's genius. What the president has done, i mean obviously, we've used trade measures all over the place to punish countries that we think are doing things badly. I mean we have sanctions on venezuela, we have sanctions on libya, we have sanctions on russia, we have sanctions on iran, putting a 5 % tariff on mexico because they allow illegal immigrants to transgress their whole country and then coming to this is a very obvious use Of a tariff it'sjust exactly in if we get the solution without the tariff, it's a win-win for everyone.

I think this was a brilliant move on the part of the president, and i think it's going to work. I think it has to work yeah and whenever this country mexico decides to help us with the immigration problem, i think, then that will reduce those tariffs, but the president just did an amazing job of negotiation and i couldn't believe schumer and pelosi in their comments. It just you know: they're they're, trying to see the worst in everything, but anyone with half a brain you know can see. What'S going on here, even mitt romney, who said the president is presentingtariffs as a way to capture their attention. He appears to have done that. I think it's going to be resolved between the two parties. You know immediately. I heard the one of those people and others who who don't understand, sort of what's going on or negotiations or life or have ever bought a house or a car or anything screaming. This is going to be horrible for everybody, it's going to be horrible for americans, and that's in my mind, was the point that it was. You have to do something that's going to get everyone's attention. Get everyone focused so that they get to the table and because of look, they should have done before goahead. Well, that's true, but also the damage done by illegal immigration.

As far as this administration and congress is concerned, it's huge and that's a huge damage to the us and what we're trying to do is just get mexico to behave civilly and stop it at the guatemalan border with the southern border of mexico. Not here and they shouldn't just let these people traverse mexico and come in here knowing full well, you watch those trains coming in with people on the rooms and all that stuff. Any country has the sovereignty to be able to stop that initiative. Meanwhile, art while you're here i want to get your take on former vice president joe biden's, 1. 7trillion dollar climate plan, funded by rolling back president trump's corporate tax cuts a few of the details here as we're getting them 400 billion in clean energy researcher innovation. So 400 billion taken from everybody out there in the audience from your paychecks in the form of taxes, they're going to give it to businesses like solyndra and then the rest of it they're talking about these goals of you must be carbon neutral companies must do that. That'S just a revenue, raise they'll, find companies and collect more money into the coffers. To me, this plan sounds like like a money grab to make government bigger, so they can spend more. What are your thoughts? I just ijust think biden has finally done his first major faux pas if he reverses the president's tax cuts of 2017 december. If he does that he will create a downturn like you haven't seen in a long long time, he'll create a market collapse. He'Ll create a very bad economy that will increase the unemployment rates for all americans, especially the poor, the minorities, the disenfranchised, and it will be a catastrophic event if he gets elected. This is his first major faux pas, he's been so good, not buying into this other stuff, all the way along and now all of a sudden.

He just jumps into the water, and it makes no sense whatsoever. You wonder where hegets his advice does he have any? I heard that i hope that americans understand because he says he's gon na roll back the corporate tax cuts that companies got that like they're, the american objects that have nothing to do with everybody at home. They don't pay wages. You know all that kind of stuff. So he says it's gon na punish the companies. I hope they understand that. That'S you know our economy raise taxes on the rich hire. I mean you can't love jobs. If you hate job creators, that's jack, kemp sold mine. You know it's really important to provide these incentives and that's why the economy's done so well under trump and he's gon na reverse all thatprosperity that we've created. You know, i just don't understand him. He would.

He seems like such a level-headed person and now he's just gone crazy on this thing. It'S the worst thing. I'Ve heard biden do in ages all right, laugher you're the best. Thank you.


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