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tv   Bulls Bears  FOX Business  July 23, 2019 5:00pm-6:00pm EDT

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going after these companies as well. >> without question. that does it for us today. the dow closing at 177 , what we need, 187? breaking news happening this hour. first time in seven months, there will be defense secretary, home of the pentagon. president swearingen infantryman mark, we will bring that to you live as soon as it happens. first, $15 an hour, the new push is for $20 an hour. >> forty dollars an hour. it has gone up.
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>> this is polls and bears. thank you for joining us. joining me today, john, jonathan. democrat michigan congresswoman, pushing out for the minimum wage to be $20 an hour, stating that she can't allow people to be living off of tips. larry responding with a warning about the impacts the high wage could have on small businesses. >> some wages go up for workers but we also lose millions of of jobs. businesses can't afford it. we can have an unlimited wage through private sector.
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>> what a 20-dollar minimum wage be worth it? >> it is a killer for small businesses. it hurts every teen in america. i have a teen, i wouldn't even pay him $10. honestly, young people, minimum wage is typically the first job you get. someone getting minimum wage, they get it for six months and they get a rate raise after that. >> we know this, this is proven, coming back to the first minimum wage in the 30s. it destroys jobs. it resulted in less pay, even bernie sanders campaign now. we know this.
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it destroys opportunities. i make more than my minimum wage job now. people build their skills. >> i don't believe in one answer solutions. we have a minimum wage that hasn't increased since 2009. overall, i think it's concerning the inequality. i think that is the indirect message here. why not talking about disadvantaged people? housing for low income people. everybody increase minimum wage, they have not been doing as of late as well. >> i agree. it needs to be rates. fifteen dollars, but think about
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what $20 means. $38000 a year, a waiter for waitress at ihop would make $20, $83000 a year. twice a starting teacher would make. this makes no sense. wait a minute. minimum wage goes away with economic wages. >> you say we need to raise the minimum wage, but $20 is not the right number. so what is? minimum wage should be zero. let people begin to build their skills.
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>> we've got breaking news. shares of amazon, apple and facebook and off of it all falling. reports of the justice department opening an antitrust review. according to d.o.j., it will focus on internet search, social media. it's not naming specific companies but we know the list. >> it's outrageous. these are iconic companies. we've got other countries trying to tax our own companies. now we are taxing our own companies? >> don't they realize they misused it?
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>> that is a different issue. i think the idea that you get big and you are successful, somehow you are a monopoly? >> microsoft began its antitrust accusations in the 90s, it was 17 years before the stock regained. this is very worrisome for these companies. >> i'm looking at the stock, they are going down. they were doing well. i'm wondering, is there going to be a big selloff tomorrow? >> i think so. it's gone up a little since then, i still on google and amazon but i do believe this is the new one. they go after banks and old companies, tech companies are
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the red meat for their base. it is going to hurt them. >> the technology information age, companies, there is so much competition. it's not easy to stay at the top. let the free market work. >> so much of economics now is centered around politics. we've got a perfect storm. republicans and democrats for their own reasons going against the companies. >> we have to stop lobbying for these companies. let's stop that altogether. i agree. >> you remember a long time before microsoft had a lobbyist. just leave us alone. >> not anymore. conservatives up in arms over what trump calls a real
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compromise on the budget. could their opposition to the bill? latest from capitol hill coming next. >> $22 trillion within the next two years. i'm easy on this vote, it's a no. so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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i'll make no apologies for this. i think it is the best we could have done. the alternatives were much worse. perpetual chaos. i think we've done the best we can. >> senate majority eater defending a new budget deal. causing some outrage among some. mark walker wishing his disapproval and showing the
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villain the joker, a pile of money on fire. let's bring in chat. it's easy to joke but it's no joking matter. are there enough preservatives republicans on this? to keep it from passing? >> hopefully we will know more later tonight. they will be ripping his side later tonight. this will have to be a mixture of democrats and some republicans. if the president is on board, that could change things. many don't like this at all. he said it's something he can't support. i asked him, isn't that the problem? you look at the two biggest areas of spending, entitlements and defense spending.
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he said it is toxic when cutting those things. everybody wants to cut spending but they also don't want to give up on the issues they like when it comes to defense. new talk about entitlement, here is the dirty little secret. this does not fund the government. all this does is set the spending cap, by september 30, they have to vote a pass. whenever you want to call it, they could risk a government shutdown if they don't work it out. this is only the first half. >> this is more of a comment. i think i feel a conspiracy of silence on both sides. we continue to talk about this on the show, interest on debt that we are paying, it will triple in the next decade.
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whether it could potentially be knocked down by both democrats and republicans but i am more concerned, we put the cap on, what is next? why has nobody been talking about it? republicans, nobody is talking about it. >> trump talks about having serious deficit talks and conversations and a second trump term. nobody believes that. keep in mind what they are doing as they are lifting the caps which are imposed after the big fight over the debt ceiling. those were imposed in 2011. paul ryan several years ago, mine was the speaker, he kept going down the road how long we keep the caps on. now they are taking them off. the one thing they made a difference on, they started to save a little from the agreement
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from 2011. the reason it was so honest and the defense is the largest portion, the part congress controls, they started to make a dent. but the problem is, nobody wanted to spend less on defense. >> for three years in a row, the federal budget fell. i cannot blame into pelosi for this, republicans are partners in crime here. it's a really tough felt. promising to be conservatives, this is a betrayal. we'll see whether they can get those votes. >> they look like hypocrites, they are. i've got to say, i am frustrat frustrated, all republicans who oppose it under obama, they were
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very adamant about that. you have the president years. why not make that? >> what has happened here is the white house is very afraid, a government shutdown and they don't want a big fight over the debt ceiling. they feel like they have cleared it. i think they could have gotten a better deal. >> do they have any say at all? >> forty-eight, 40 votes in minority. that could be a key if they pass this. they will vote no. the chair of the republican committee, that is the largest block of conservatives. he opposes this. i asked the treasury, they have
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their weekly lunches, i said will this past? he said this will pass, absolutely. president supports it. >> what happened to the republican party? we have the largest debt in the history of this globe. they are about to sign two more years. there's no difference between republicans and democrats. >> the only thing in partisan it's all of them, they just all want to be reelected. >> this is a key question. you have people who go out and say, i oppose voting to rate the debt ceiling. if they are not for cutting entitlement, i've asked senators and house members, are you disingenuous? i won't vote to raise the debt
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ceiling but they don't want to address entitlement. mcconnell said the entitlement programs were written for the 30s and 60s. need to calibrate that. they have not done that. >> now they cover much more than they did when they were created. great stuff. 2020 democrat elizabeth warren isn't waiting to win the presidency to put one of her major agenda items into effect. details on who will pay for that, that is coming up next. >> it's a question of our values and choices we make.
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a 2% tax on the top one tenth of 1%. of fortunes in this country, those that are more than $50 million. that would be enough for universal childcare, tuition free college and cut student loan debt for 43 million americans. >> elizabeth warren is officially introducing a bill and eliminating to it that for americans. $50000 in student loan debt for household making less than 100,000 a year. she claims her legislation for impact 43 million americans with student debt and she is starring in free tuition. the full cost yet to be
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determined. she plans to pay for it with attacks on those who own more than $50 million in assets. is the bill worth the cost? >> it's not just out greatest, you get a free education, it's protecting individual rights. what's frustrating is she does not talk about education within the context of why education is so expensive. why has the cost gone up with things like technology and clothing and other elements? that's because government has meant results. for every dollar of student loans, the tuition goes up 58 cents. >> more than that. >> that's why college is so expensive. >> the scandal here is how much college is and they are charging
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families. people did pay off student that, like you. if you hadn't done it, it's ridiculous. >> a lot of these high ranking individuals come from a lot of these schools that have power later on and they are influencing capitol hill. that is a major issue. we are not objecting the actual issue. the issue is extremely high tuition. everyone gets almost 30,000 dollars worth of student debt. that is high compared to other countries. >> the point is, the issue of education itself. elizabeth warren has ignorance of what is wrong with our country.
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what is wrong with inequality. a kid from a low income area who does not graduate high school is 47 times more likely to end up person rated. low income housing in low income areas are not graduating high school. who is this for? this is for the 1%. fix the education system. this is ignorance. >> what gets me, she's getting all these plans, everything will be paid by this tax where she takes 2%, money already taxed, she takes 2% of the wealth from these very rich people and that will pay for it all. >> rich people don't get rich by being stupid. >> did you say we rich people? >> rich people will find ways to avoid this tax.
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>> it didn't work. in the end, you pay for free food, free tuition, free childcare. >> the culture here, if you want to know why it is so progressive, it's because government has played such a dominant role. >> california making headlines as the first city to ban natural gas. what does this really mean for businesses and people who lived there? that is next. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers.
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berkeley, california making history, the first city to ban from homes the cleanest and carbon fuels, natural gas. it kicks in january 1 and applies to all residential homes. robert, what is your reaction? >> there was unanimous approval, no one spoke out against the move. the utility out here also backing it as well. they do have electricity and gas for the city. it will be a win-win for them. they are creating electricity or
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many cities. it's unclear, what will happen to the price of natural gas. just like many other areas, residents are paying way above the natural average. 50% more for both. the costs are already quite high. we are in a unique situation here. natural gas is not widely used out here. mostly just to heat water and cook with. it's mostly from solar and wind sources. they like to be seen as the leader. energy programs are pretty novel and no plastic straws to be found. when you eliminate natural gas, critics call it for two signaling. >> we are looking at making
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construction costs lower. the energy costs themselves will be lower because the electric devices are more attention. they use new technology that is now four times as efficient as your typical gas appliance. >> 2000 using it's in the next five years. developers tell us if it's expanded to taller buildings, would add more costs. >> if we were to use individual hot water heaters, that would probably go up by ten or 20. would add three or $4000 each apartment to add a hot water heater to each. >> the heaters would take up valuable real estate, which are getting smaller and smaller. he grew up here in the area and has developed it for about three years.
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solar and natural gas is the most cost-efficient way for larger buildings. >> thank you. will it really help the environment to make the cleanest fossil fuel we have, more expensive for the poorest families? >> i don't think it will help the in permit. it is the cleanest fossil fuel. this is a democracy. the city council unanimously approved this. while we may disagree, i don't get wise, natural gas is one of the best things to use, but it is their right as a democracy to run it however they choose. >> it's not a consequence that berkeley was named by a major survey as the worst place for
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new home buyers because of initiatives like this that make it more expensive. the 3-mile island accident, it basically turned off generations to nuclear power. another clean energy source. any use of fossil fuel, even natural gas which is half of polluting as crude oil, this is what makes our economy run. that's their goal, to hurt man, not even help the environment. >> don't you think that is an exaggeration? this is only affecting low rise, new buildings. everybody is going with it, even pg and e. the fact that in that report that we heard, both prices have been climbing in california. it will not change that much. i think all of this --
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>> we've got to run, for folks -- poor folks are the ones who are going to have to pay for this. the people who can't afford windmills, they will be footing the bill. more details in the justice department, new major review of whether they will break up these giants. that is next. by consolidating your credit card debt into one monthly payment. you can get your interest rate right - by locking in a fixed low rate today. and you can get your money right. with sofi. check your rate in 2 minutes or less. get a no-fee personal loan up to $100k.
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what can you tell us? >> this will be a very broad review of policies and how they became as big as they are. massive companies like google, facebook, amazon. they are looking into how they got to this. you're looking to see if they reduce competition in any way. possibly harming consumers. i want to read, just got a statement from the attorney general's office. assistant for antitrust, without the discipline of meaningful market-based competition, digital platforms, they are not responsive to consumer demand. they're looking for antitrust issues. they basically constitute monopoly. they are harming consumers. >> there is a big piece today about how apple is getting real big competition from small
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companies coming out with 25-dollar smartphones. there's all kinds of ways the market can compete with big giants that the politicians don't see. >> let's look at those. their stifling innovation. >> really? can you think of a more innovative company they are bad for consumers. amazon is bad for consumers? they are reducing costs, not raising them. >> they created all of this. there was no internet comments. the same argument in the 90s, it was going to be no kia, other companies that would be the monopoly. this is government meddling. >> you say that but then look at the ad revenue and how much google dominated across the
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board. according to this report, they look at how the companies leverage their network of users. >> why did they dominate? they provide a service people want to use. >> are they taking advantage of the fact that they are so large? he said i don't think anyone would come to the conclusion that we are a monopoly. can we say that? they are simply looking into it. they are simply looking into it. >> how many times when politicians are simply looking into something to the end up doing something that hurts the marketplace? - i think most of the time. this is not standard. he was holding the country hostage. you look at maybe google, google was the only one who could maybe
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have a monopoly argument. you look at amazon, 50% of market they have, only 5%, that is hardly a monopoly. >> you're historically wrong. rockefeller succeeded because -- >> there is another sector. the effect of google on the political process, that is what is driving a lot of these politicians. they will get a lot of money off of this. google will tenfold this increase. >> exactly six it's a tactic and cause the companies --
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>> former special counsel robert mueller is on the hot seat tomorrow for the first time over his report. how much can he say? we will be asking doug, he's next.
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law makers set this for robert mueller tomorrow over his investigation. is he going to say anything he hasn't already said or written? his testimony must remain within the boundaries of the public redacted version. trump is predicting trouble for
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mueller. let's bring in doug burns. what will we expect tomorrow? >> it's more political but there are legal issues. as we've been saying all along, classified information, information about ongoing investigations or third parties is out of bounds. it's interesting that he sought cover. he says tell me what i should do. they say you must confine yourself. he has the perfect excuse. i've been advised by the okay. now there and shift and others will say wait a minute, you don't work for d.o.j. any longer. reality is, what he did was under the umbrella of d.o.j., he was special counsel. >> legally, the rules govern -- >> i have a specific question. he just asked his top deputy, is
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that a breach of house rules? >> first, we have this hysterical reaction. bringing in a surprise but then within about an hour, he's just going to sit there. i don't honestly know. i don't often say i don't know. >> the last time he spoke out on this, he was very they about how much trump had. i think that's what the democrats want to get at. a smoking gun. >> light went off because for the sake of argument, any have not read the report. democrats see it as an opportunity to go through it and have people in their, say wow, i didn't realize that was in there. so the democrats game plan, it's
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to bring out the public works in the if they have not read it. then you go to the other side, this could backfire. that is all very legitimate. there are a number of questions you could ask. >> you've had hundreds of cases, just to lay low over this period of time, not punch down, i know the difference between legal and political counsel but from a legal perspective, wouldn't you say look, chill out on twitter? >> all the fundamental rules of white-collar, like lay low, keep your head down -- >> the rules are that. in law and politics are involved, it's often different. you protect yourself.
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the point is, you are right, legal advice, absolutely. politically, not necessarily. >> does the report, it sounds like it's not going to be talk outside of the report. what do the democrats hope to accomplish from this? >> it's almost a fifth amendment context, witness comes in, i'm not going to answer and they put the next question and then they won't answer and then they shut it down. if you are going to answer is that way to every question, we will assess. so here, mueller may come in and say, i will not go beyond the report, as i said in my first conference. as i said, i will not go beyond. we will see.
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there is one thing he could clear up. the dispute between him and attorney general barr over whether he could have indicted the president or not. according to barr, he said even if i couldn't, i wouldn't do it based on the evidence. >> real simplification on what you're saying, i predicted that they would say the only reason i'm charging him is because of this focus of legal counsel. it says you can't do it. that will be a convenient excuse. then barr says special counsel told me that wasn't. that is precisely the questions that should be there. the other thing, wait a minute, are you contending, are you saying my son was wrong? no but again, he said special
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counsel said he did not think any of the summary was inaccurate. that is devastating but again, my crystal ball is, he'll say as i said in the press conference, back to see major, funeral. >> it will be very interesting. quarterback tom brady is in hot water. while some are calling it a irresponsible vacation video. was it tough love or bad parenting? we will show you the video and debated, coming next. ..
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today's senior living communities have never been better, with amazing amenities like movie theaters, exercise rooms and swimming pools, public cafes, bars and bistros even pet care services. and there's never been an easier way to get great advice. a place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. a place for mom. you know your family we know senior living. together we'll make the right choice. dave: patriots quarterback tom brady making a slash, he grabbed
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her hand that way. the post resulted in a few extreme reactions online. some are suggesting he be suspending from the nfl citing his actions as child abuse. does he deserve the criticism? do you know how many single parent kids would love to have a dad who would jump off the rocks with him? >> i don't think we should be saying anything about this. who are we to comment on this despite the fact that she does get scared. a computer screen gives people strength to go after people of and bash. we shouldn't be making comment.
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>> most of people should mind their own business. i think of dr. charles krauthammer and others who suffer injuries when they jump into water. >> i have to confess he would have had to push me in. let parents decide for themselves what's best for their kids. david: we talked about it with social media like google. they have become so much a part of our lives that they are dictating behavior to a certain extent. >> it's footwork. you are supposed to be a good parent and raise a child and take the time to engage in that type of activity.
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>> you just pinpointed exactly. so many people it's not reality at all. it bothers me that they don't pick up the phone and call. they are swiping left and swiping right and complaining online. david: mark esper, he's now the defense secretary. 90-8 he won in a very political capital to win anything by 98 isn't extraordinary. president trump is swearing him in right now, swearing in mark esper as our new secretary of defense at the white house. this is tape playback which means it happened moments ago. president trump: we had our greats republican senators at the white house and i invited them over. many of them wanted to be here.
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as you may have heard the vote just took place. it was 90-8. that's a vote we are not accustomed to. david: mark esper is the confirmed defense secretary. he has a lot of experience in the military. he's a former infantryman and he's well respected. we have a very well-respected member much our panel. you just returned from marla --m malawi. you have kids there who have sports programs in their schools because of what you have did there. >> one of the greatest honors i have is to deal with poverty around the world. i built a sports and education facility for a bunch of people in the worst area of the world.
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only 2% of the country has electricity. david: well done. he does this all over the world literally. we wish you have well in your project, john. that doeso does it for "bulls and bears." liz: a reluctant robert mueller set to testify in less than 15 hours. the democrats organizing a mueller interest net blitz. this as america polls show have moved on. the scorecard of what you can expect. why miler is saying he'll only testify on what's inside his report. it covers an important section


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