Cavuto on Business 12/30/17 11AM | December 30, 2017 Breaking News
Thanks. So much for joining us good, stuff you guys Happy New Year Charles Payne is in for Neil Cavuto he's next. As. The ball drops on a new year is America, about to drop a trillion, dollars on infrastructure, hello. Everyone, I'm Charles Payne in for Neil Cavuto the. Trump administration preparing. A new infrastructure. Deal for 2018, new, reports, say officials, are working on a 1 trillion, dollar plan to, be unveiled in January, but, Ben Stein says slow down with over 20 trillion dollars, in national debt we, can't risk adding any more Ben's, here along with Kennedy Larry Glazer and jammu Greene Charlie and Adam are off this week Ben your thoughts well. I think that you spent a trillion dollars if we only spend a million, dollars of it a week but, we, have to do it on the installment even, though we cannot afford a trillion dollars over the next few years and a, one and a half trillion dollar tax cut we're putting Americans, and our great our children, our, grandchildren in, the risk of default we, just cannot afford to keep spending money, like drunken, sailors I know I do spend, money like a drunken sailor and I know it's not a good way to behave for an individual, or for a nation and no disrespect, but most drunken sailors earn their money so they want to spend it that way that's, their that's their prerogative they're hard-working guys, and they served us very well in World War two absolutely. You know at Kennedy and I think this message, is also floating, around DC because apparently, this package will include public. And private, and even, raising 200 billion from the federal government's getting some pushback yeah that's a lot of money and Ben talks about future generations, our. Children's, children, will have a great appreciation, for, these bridges because, they'll be living, under them because they won't be. This. Is a project you, know infrastructure, is something that Democrats have really, really said they wanted a lot they. Spent they had a big bill under President Obama most complained, afterwards, that it wasn't enough money so, they, look like they're gonna be on board with this I'm. Certainly, in favor of, some, infrastructure, spending but, I don't, think Democrats, are going to buy into an. Other windfall, for the private sector certainly. We could have afforded a trillion-dollar infrastructure. Bill before, we gave, away at 1.5 trillion dollar tax cut maybe we could have reversed the order of. Things in DC but, if Trump. Moves forward, with solely, tax, credits to the private sector that's not going to work we, do have schools that are crumbling, bridges that are falling roads that need repair, but, if. So. Your resentment, toward the private sector would stop you from building new hospitals and schools I don't. Have resentment, for the private sector I just, don't want the, profit, motive to, be what drives. Infrastructure. Repairs. So, if a private, sector doesn't think that they can get back their money by helping, to rebuild schools, they're not going to do that they're gonna go and focus on roads where they can own they can increase tolls or you, know electric, utilities, where they can increase the rates so there, has to be a balance, and.
I'm Afraid that this administration. Is solely focused on tax credits for the private sector but I think we can look into the private sector for some taxes, I mean there's, no reason that we should not have a higher gasoline tax, we have on our staff here, at Fox an incredibly, wonderful person, then Digg and with, them pushing for years for higher gasoline, taxes, and she's totally right we're, gonna have big improvements, in the roads and bridges and tunnels and so, forth why not have a higher gasoline tax, there's no reason not to have that why not have a higher tax on utilities, there's no reason that we cannot raise taxes, to pay for these things I mean this is a very rich country, let's, while it's still rich before we're also our children, children sleeping under the bridges let's raise the taxes enough to put us on solid financial footing, let's bring in a proxy, on today's, show for the private sector Larry you're up. Now. You know I I would, say that the project that the profit, motive has, gotten us to drugs that help for our life expectancy go, to almost 100 years that have gotten us devices, that make us communicate with our kids while they're in school you, know I think the profit motivation has actually made America the number one country in the world despite. All of that, are they going to be lured into this sort of dill can they come up with 800 billion dollars to fulfill this plan. You. Know Charles this is a need to have not a want to have we need competitive, roads bridges tunnels infrastructure. To be a competitive, country it's, embarrassing. When you visit other countries and you see their airports, their roads their bridges are much better than ours and we squander, money left and right like drunken, sailors and you know what's interesting is we had a missed opportunity in, the tax plane we could have used some of that two to three trillion dollars of corporate, private-sector cash that, was overseas, to be taxed, to pay for the infrastructure, instead, we look at things like privatization. Toll, roads gas tax which are all regressive, taxes, so I'm not in favor of increasing, taxes, to pay for something when the money was already available we could have paid for this and it's a bipartisan, issue this would unite both sides, of the aisle it would be a great thing for the country if we could just mind I think everyone out there at Kennedy has their own tales of potholes. Or something. You know everyone has their own infrastructure. Nightmare, out there watching this show and that's, in my mind which should make this easier, the, debate on how to pay for it I think, could get, muddled in a sense that hey let's get it done if everyone, agrees that it's so urgent but everyone, pretends, like we can afford all of this and it's funny because the same crowd that gets so upset about.
Bernie Sanders, Medicare. For all, doesn't. Seem to bat an eyelash about the amount of money it would cost for infrastructure. There, are most. People, who are more invested, in health, care and making sure the government doesn't screw, up health care because Larry's, right like that's an absolute, need that's an absolute necessity if, you require a cancer, treatment or your child needs surgery, or something else. It's, it's sad that there are roads and bridges, that are crumbling. And in a state of disrepair but. There are other ways of paying for them and some. How would you pay for them I think that we have to have there there are toll roads specifically. In California that. You know you, pay for and, you don't, have to pay for them as a taxpayer but if you use them then, you go ahead and pay, for the toll road and why, don't we have impacts on marijuana, in California we're, now gonna have no. Huge. -, Big Ben then you create an even bigger black market there's a thirteen billion dollar marijuana black market right now in California. They're. Proposing that, the the legal market will be about five billion dollars if you over tax it then, it's going to be even less than that you will increase the black market therefore increasing crime map right so let me go back to jammu and we'll get off the weed comments, for just, a moment okay and, return to them going to break but. Jammu. Again. You, know you Larry broke brought up the tax bill that's in the rearview mirror we're dealing with the reality, January's upon us you. Know all to. Have a great economy, you need great roads, and. And this is something that universally, everyone's agreeing on so I'm, still not sure how politically, Democrats. Are gonna push back on this very topic that they've champion for so long because. There might be some sliver of it that creates profits for the private sector. Look. I don't think we're talking about a sliver I think we're talking about perhaps another windfall. For the private sector and there has to be some. Balance here. I think. That that is possible, I am in favor of Democrats, coming. To the table legitimately. And sitting, down with the administration, and saying this, is the best way forward I I don't think this is an area where we, should be full-on resistance. But we also need. To hold the line when it comes to making. Sure that the spending, that goes into our infrastructure, is not, just driven, by the profit motive because. That's. A certain. Community where's the fight come down and you introduce, competition that's. Not a bad thing I, get that. The. Company is not going to be able to make money by, investing, in a school, for, say to, help, rebuild, it and they're only going to focus on roads what happens to that school so we have to find that balance because. I've. Been at first real quick I mean surely, you're not opposed to contractors. Building, roads or contractors, building schools I mean that's how it's always been even, public universities, public high schools private, contract. There's. A history of cost overruns on big public works projects, they become a payday for people on the government Dole but at the end of the day we're starting with a 20 trillion dollar debt that's the problem it more than doubled under the Obama administration it's going to continue to rise under the Trump administration that's, why we don't have the money unless they want to cut something the money's not going to be there and it's too bad the debt is where it is but that's our starting point we have to find a way well make some cuts if we're going to pay let's not even forget you know what we started with the war analogy, and a navy analogy, even back in the day world war two people bought those war bonds in part because they was patriotic but in part because they knew they'd make a profit on it sorry guys thank you all very much Apple, apologizing. After admitting to doing something many users, suspected, all along but, will, an apology be. Enough. Today. On Forbes on Fox US, ambassador, to the UN nikki Haley announcing, this week a 285, million, dollar, funding, cut to the UN budget but, does it go far enough we'll debate that plus just. As you're booking a trip on Google to escape winter a new report says Google's, at gutes with travel sites to, steer you to higher price packages, a story you can't afford to miss will see at the top of the hour. Live. From America's, News headquarters in, Washington, happy New Year's Eve Eve I'm Leland Vitter t' as of, now in boston sixteen people have been treated, at two, hospitals, after trolley, cars collided. None, of the injuries are believed to be serious had happened in the city's Dorchester, neighborhood the cold weather has, been gripping, that region ruled out as a cause of the accident though, blamed for breakdowns, and delays elsewhere.
In The city's transit, system in Iran. Thousands, of people rallying, in support of, the government this, following, anti-government, protests. That have broken out across many cities in the country people, venting, their anger about corruption, in the struggling economy they, are the regime calling those protests, illegal, while, blaming foreign, powers, for the arrest a lot, more about the Trump administration's. Reaction, to, those protests. Contrasted. With the Obama administration's. Reaction back, in 2009. At noon Eastern now, back to Cavuto, on business. If. Something, rotten an Apple the company apologizing. And slashing, battery prices, after admitting to slowing down older, iPhones, but class-action, lawsuits, are piling up from customers, who say they've been duped and felt encouraged. To upgrade, their dying phones to more expensive ones Larry, so is sari good enough sorry's, not gonna look, Steve Jobs must be rolling over his grave right now Apple. We trusted, you you let us down hmmm what else are you hiding from us let me get this straight you intentionally slowed, down my phone, you, didn't disclose, it, and you did this so I would upgrade to a more expensive product, the, love is gone I'm done with you I'm going to Samsung, I think a lot of people are coming with me this, is not how corporate America should behave big, tech companies, like Apple, are too powerful and the regulators are gonna take note Kennedy. I mean Apple the thing they claimed their famous pricing, power in part because they have a cult-like, following I, mean this certainly does shake the can, shake the foundation, of that but, people also have been looking, for signs, that, Steve Jobs influence, is waning, and now. They're looking at other phones and Larry's right like Samsung, and a lot of people are going I've, been so loyal to Apple for so long but now they have competitors. Who offer offer eager. Even. And and in some cases even better products, so they're gonna go into you know the AT&T store the Verizon, store and poke around a little bit because they've, known for years and it's always been a joke, that when a new iPhone, comes out and your starts getting glitchy, right, and the battery starts slowing down and the phone stops working properly it's been a joke, and almost a conspiracy, theory but now we know it's actually happening it does start to erode, some of that brand loyalty jammu, there goes those capital, is again right. Member. Of the Apple cult and I have been for many many years I was, already, upset the, fact that my, my Chargers, would would basically fall apart after, three months and that's you know planned, obsolescence. From. An engineering, standpoint, I'm. Ready to join this, class action because my iPhone, 6 is. Ridiculously. Slow it's. So upsetting and an, apples, brand, is so. Key, to, their success they, have the most successful, brand on. The planet and, the fact that they've done that that there's ever been exactly, and the, fact that they've done this is, very. Very, surprising. And and, I do think there's gonna be a lot of blowback, I can't, imagine I'm gonna give up my iPhone, though but, I might, go take a look you know a benefit, the, news comes out does just 24 hours after has revealed that Tim cooked Apple CEO got a huge pay raise in top about on top of it all yeah. Not only did he get a huge pay raise but the woman who's in charge of their stores and online sales got, something like 26, or roughly that million, dollars a year look, at law there's, a duty of good faith and fair dealing in, every contractual, sale that requires disclosure, of every material fact, the fact that we're going to slow down your phone and make you think you need a new one is couldn't be more material, they didn't disclose it I clearly. Clearly clearly some trial lawyers are gonna get to be fantastically, rich from this I question. Respectfully, whether or not somebody, in New York, or California is, not going to charge them with a crime I mean this is what, they've done is really shameful, I love, my Apple products, but I'm, very very disciplined. And I think they should have consulted their lawyers and I say didn't consult their words and their lawyers didn't tell them to back off their lawyers should be ashamed you, know Apple, started the week layer in the market getting, a lot of pressure because of the apparently sells for the iPhone 10 aren't that hot to begin with so they're. In serious, trouble right now aren't they. You. Know and so goes Apple so goes the market because it's a big driver of the overall economy right now it's a big driver of the stock market averages, and I think that's the real concern here is they have such a high price point on the new product it creates a lot of pressure and it's all about brand loyalty Charles and if you look at look at VW, with the diesel emission scandal you can lose those customers, you can lose that trust they might still buy the product, but the love is gone and I think that's where the issue is everyone's, gonna look at Apple a little bit differently and maybe the company shouldn't have that halo premium.
In Valuation that it was had so I guess the answer to the question sorry is in this case just ain't good enough Apple, get, back sharpen, your pencil figure it out because people ain't happy all right coming up some critics want President Trump to put a freeze, on his tweets and a new year but our new, numbers showing exactly, why he shouldn't we, debate you this house and, spirit, of New Year's resolutions, critics, are calling on President Trump to quit Twitter but. A new study from Hughes says that nearly two-thirds, of the media's coverage of the president's, first days in office were, negative, that, compares only 20% for President Obama so, Kennedy does Trump, me Twitter in order to get his own message out I don't, have a problem with the president using Twitter I understand why he uses it I I, do have a problem with some of the things he says, on there and he oftentimes goes, too far and is very impulsive but I think a lot of times he does that on purpose to. Misdirect the press and and they go for it they need each other he's not gonna stop Twitter they pretend, to be disgusted, by it they ask him to stop but there, is addicted, to it as you possibly could be and there is no methadone, program for. Presidential. Twitter addicts it's, a new it's a new addiction you, know Ben I think you've been a critic of President Trump, so tweeting from time to time I have, that if he goes off the rails and, I think he sometimes should be a little bit more considerate and thinking about think thinking about things a little bit more before he shoots, off his Twitter mouth but you know I think it's a totally, fair thing for him to, right back and it's a beautiful, thing you can strike back against the overwhelmingly. Negative, press, by, getting, out his own message and some, of it is incredibly. Sensible. Incredibly. Unbelievably, sensually, I mean some of the things he says are just such basic, common, sense you, have to really love the guy for it as. I say I wish you'd be more considerate, of sometimes. Saying, too much right but I think he's got an awful, lot going for it by having this platform you, know jammu and that same report, only 5%, of the coverage in the first 60 days is positive, 5%. What I found interesting is that Bush and Clinton had 22% each so it seems like there was a bipartisan. Time when the press sort of looked at both sides of the aisle the same way why, does Donald Trump ruffle, their feathers so, much why is there, so much resentment Charles, I think it's the whole chicken and egg situation so. Which one came first the. Negative press coverage, or the. President, who behaves, like a petulant child it. Would, be great. If President, Trump would use Twitter as a platform to help unify, the country and and start, actually behaving. Like. A president. In in a respectful, way but, that's not the path he's chosen to go down so I really. Think that the, negative, press coverage, versus, what, we've seen with past presidents, is because, we, have a bully, in the White House and he likes too much media the media is the bully media. Is the bully and, Larry to that point, in. The last month or so we've. Seen the media have to retract story, after, story after, story all, mean-spirited. Stories aimed at demeaning, President Trump and if they would have done journalism, 101 taking, a deep breath and done some basic homework, they, would have realized what they were reporting, to the world was incorrect, but in their haste to always, find dirt it feels like they just throw caution to the wind you know, it's so true look Charles, PT Barnum once said there's no such thing as bad publicity and sometimes, the president tweets things that seem a little crazy but, he's crazy like a fox no politician, in history has ever used social media the way this president, has and he's been so successful, at dominating. It and he's playing with the media and look at, the end of the day, he has very low approval ratings, but the sentiment, readings for the economy, for the consumer, are off the charts positive, consumers.
Are Incredibly positive consumer, confidence is incredibly positive small business, owners are incredibly. Positive and investors. Have been incredibly positive so, the approval ratings matter in some polls but the sentiment, is what really drives the economy and that's the stuff that people are reading in they're looking at the policies, and they're reacting to and I think that's so important, McKenney they are should, there be concerns, that because he does have a propensity to to. Fight back he's a counter puncher that you know some people say he punches down or he legitimizes, folks that he should just ignore that, he could cross the line ultimately, even accidentally. And it could have a you, know it could harm sometimes, he doesn't realize that he's President of the United States I honestly think that when he's reacting to people he forgets the gravity, of the office because he, has been counterpunching and he has been analyzing, and he's been thinking about politics in this way for so long that the, other stuff is going to take a little bit more time Jammu is there any chance that that, the media, may come around at all. I. Doubt, it because again I, do, actually agree. With President Trump in his recent, New York Times interview where. He said the press needs me for you, know their, clicks and and and their viewers and. That was absolutely, the case in his, election, that, is still. The case so, I I think that there is more of not. Just from a journalist, journalistic. Ethics standpoint, here this is about a profit, motive. The. New, York Times stock is up 39. Percent, this, year so, you know what maybe, I have an exit chop maybe having a bully as a president, ain't so bad hey Kennedy jammu, want, to say thank to both of you great job have a great New Year's appreciate, it meantime, nearly, a third of Americans planning to use next year's tax refund, to pay off those holiday, bills but a guys, say buy these stocks have said and pay off all your, bills. Docs. To help pay off your holiday bills Larry General. Electric's but this was the biggest job the Dow this year but it's a cheap stock in an expensive, market everyone and their brother sold, it for a tax sale at year-end now, there's a new CEO there's a turnaround going on time, to buy up 20% I've been what do you like the, use of the Spyders index you're not going to beat it over long periods of time just by the market, all right Ben Larry thank you both very much of course you can catch me on making money on the Fox Business Network the cost of freedom continues happy, new year. Well. The new year coming and it looks like the UN may, have to get used to seeing some of its money going, away hi. Everybody I'm David Asman welcome, to Forbes on Fox US, ambassador, to the UN nikki Haley announcing, a 285. Million dollar cut to the united nations budget, calling it a big step in the right direction, is she right or wrong, let's. Go in focus to find out with Steve Forbes, Bill Baldwin John Tammany Bruce. Jepsen is with us and Patrice Leon, Wu qey so Steve is ambassador, Hayley doing the right thing yes David it's a good small step in the right direction the UN could operate unless half the money it spends today one, example is a special agency they have for Palestinian, refugees, it's been going on for 70 years after World War two with tens of millions of refugees they're resettled, in a few years after Indian, Pakistan, broke up resettle, in a few years and what these camps do david has provides sources of terrorism, preaching, violence against Israel and teaching young Palestinians, they're gonna go back to Israel that thing should be shut down and Bruce it's not like we're, being stingy in what we give the UN we give the United Nations. 22%. Of just, their GA budget, the general assembly, budget 22%. The next the number-two country, is only, 9% that's. Japan and then it goes down from there so shouldn't, we get a little more bang for our buck. Well. Listen the way I look at this I sort of to get a full picture I sort, of view it as sort of like Donald. Trump's, tax return I'd like to see the whole budget before I make a judgement. But when you consider that we're spending about, a. Billion, or so dollars, on the United Nations and we're spending 800. Billion we're. Gonna have a huge, budget for defense this is a drop in the bucket and when you talk about, the.
Trump, Riling, are our allies, and so forth we might end up having to spend more it's not that much - well John the fact is is that we'd all like to look at the UN budget and part of the problem is it's such a corrupt agency, there's so many different, channels, in which the money can go nobody, has a clear idea of how much Claudia rosette, who's the smartest. Person the UN I know she says the total, you, went funding is 49 billion and look at where some of these scant and the money goes to some of these scandals, we can put those up there we had the oil-for-food scandal. The sex abuse scandal, involved in the UN, peacekeepers. Were. Involved, in sexual, abuse, of some of the people that were supposed to protect cronyism. At the Union at UNESCO, cash for Kim in. North Korea I mean scandal. After scandal after, scandal well. I think what's most scandalous, about all this is the basic truth that the UN is most famous, for being an organization. That, routinely, trash-talks. The United States and so, why on earth would the u.s. be the number one funder, of that, which routinely brings it down let's. Talk about specifically. Build what nikki Haley said about, what she's trying to do she said the inefficiency, and overspending, of the UN are well known we. Will no longer let the generosity, of the American people, be taken advantage of, or remain, unchecked. Isn't that a fair comment well. I don't totally agree with the Ambassador I don't think the UN should be all chopped to pieces it's, true that there's a lot of buffoonery, there, there's, a huge amount of money wasted but still this, is our last best chance to sit down with enemies, before resorting, to workfare, but Patrice even, some, Democrats are. For. What our new ambassador, UN is doing and. One of those is Alan Dershowitz here's, what he had to say on Fox News earlier, in the week played the tape as far as what nikki Haley is done it's I think terrific, it's about time we sent a message to the UN which has become a place of hate when, it comes to the United States and, Israel so. It's not only Republicans, some Democrats are, for this as well Patrese I think. He was absolutely right I mean we see nations that come together particularly. As Islamic, nations who don't, contribute their fair share by the way but, they use this opportunity as and as an international, platform to denigrate Israel, and to come against the United States you know I am really pleased you brought up some of these other scandals, at the UN when, we consider in 2010, UN, peacekeepers.
Dumped Sewage, in Haiti and led to the death, of thousands, of Haitians so, we need better, accountability fiscal. Responsibility. Out of the United Nations and to know that our tax dollars are really well spent and Steve, we mentioned Democrats, there was a famous Democrat, who's not no longer with us named Daniel Patrick Moynihan he was Senator of New York but before that he, was the UN, ambassador. For the US and here's. The cover of Time magazine, giving them hell at the, UN, that's a Democrat, it started, back then yes. Because the UN had gone totally off the rails then being an anti-israel, platform, calling. It an, imperialist, state and condemning. It just as they did on the Jerusalem, move but, these two moves David moving the capital to Jerusalem, and telling. The UN there's. A new day at hand is the only way you're gonna get peace in the Middle East and the rest of the world when they know we're serious we're not gonna play any more pretend, games, and finance, corruption, because we think of breeds world peace, just breathe cynicism, and waste and Bruce we've tried talking, it out every. Time the UN says they're gonna clean up their act they never do they had an audit a special audit committee that lasted, two years from. 2006. To 2008, it was disbanded. Because there was just too much corruption something. Has to be done at the UN no. Listen. I think that certainly there's there are ways to spend, smarter. And spend better but if we're truly. Going to be, promoting. Peace around the world or, if we're going to have a body I, agree, with Bill in the sense that the United Nations is probably, the one place anymore, where. We can meet with our allies, and others and discuss matters to, promote peace around them but John it is a nest, of corruption, I mean it's, bad a regular, bureaucracy, is bad enough but an international. Bureaucracy. Means that nobody is in charge that you can't fix. Accountability. To anybody, and that's why they get away with stuff there well, and I think for almost forget, about the corruption and let's talk about the basic, truth that countries, that trade together do. Not war with one another and that's where I'm sympathetic to Bruce cut, defense spending too but you don't need a UN, if borders. To goods and services are free because, people around the world have a rooting, interest in world peace, you don't need a UN you need free trade bill Patrice. Is totally, right we need to see a lot more accountability. But here's something else to think about in the 21st, century we're going to need a lot more not, less a lot more cooperation. To, prevent war and to prevent viral, epidemics, but cooperation. Is one thing when, you give money so, much money as we do to the United Nations as the u.s. does to the United Nations and then, they essentially spit, on you after you've given that money I mean is are, we supposed to just sit there and take it Patrice no.
I Don't think we should I mean this is more than just what spent on vaccinations. In peacekeeping, we're talking about lavish, lifestyles, of people who live in New York who. Work for the UN, but Liberty or can take advantage, of it so you know I I do see, the points of all the different panelists, here who say you know we want trade. We want peacekeeping. We want countries, to work together but. This forum hasn't really proven to be you. Know the effective. Forum, for making that happen, you've got dictators, who are not even allowing their people to eat in many, countries coming. To United. Nations telling us what we should be doing you know as a country and as a nation who which is the most generous nation by the way absolutely, Patrice. Thank you very much coming up next we haven't seen a winner this bad in a while but, be, careful, about googling, your way to warmer, weather you may be googling, your way to a vacation, that actually costs a lot more than it should we've got details you can't afford to miss coming up. Well, I from America's news headquarters, in Washington, happy New Year's Eve Eve I'm, Leland, Villard frigid. Temperatures, are gripping much of the northern United States and they're not going anywhere, for, at least a few days all, of this making for a brutally, cold New Year's Eve wind. Chill advisories. Or warnings up, across, the Northeast, in New York City forecasters. Say the ball drop in Times Square could be one of the coldest, on record, take. A good look at this surveillance video, just released of a gun store robbery, in Tennessee, shows. Three robbers, smashing, gun cases, and stuffing. The guns into, bags happened, early Christmas. Day morning, the thieves made off with more than 30 guns worth, about $20,000. As you might imagine police, are asking for the public's help and identifying, the suspects, and trying, to get those guns back I'm, Leland vineyard a lot more news at the top of the hour now back to Forbes, on Fox. So. Just as you're booking a trip on Google to get away from this horrible winter a new report, is out saying Google is using. Its search dominance. To steer consumers. To deals that, may look cheaper but really aren't a Wall Street Journal editorial this, week says this about Google's practices, restricting. Competition means. Many consumers. Won't see or receive, the lowest price deals so. Steve is Google taking advantage, of its dominance, the, answer is yes David, but there are plenty of alternatives out, there you've got to Priceline, and others you've got Bing and also, I guarantee, you or they're gonna be new sites coming up very, easy to establish a website, these days putting, out there the best deals out there Network, saying what did you find at this place that the others should know about so, let the free market work we don't need government involved, in this well Bruce, 60%.
Of The folks out there once, they're planning a trip they immediately, go to Google, and they put in you know their the place that they're going to in hotel or whatever and. It turns out a lot of those people are getting ripped off. Yeah. It's something that clearly could be looked into I mean and, if they are you know if they truly are stifle in competition. Just like any other business then you, know the government or somebody should look into it and if they are doing things that people don't know of, and don't, want them to they go to these sites for discounts, then, it could be a problem now John, I know you're, not in favor of the government getting involved one way or the other in this debate but here's, what the Wall Street Journal, article ends, with they say regulators. May soon ask, if, the search giant is abusing, its, market, power so they're saying if they don't if Google doesn't clean up its act you, know how politicians, are they're gonna want to get in there and try to do it themselves oh, that's. Fine and how interesting, to think that regulators, who couldn't get a job at Google or any other prominent, Internet organization, would presume to regulate, it but seriously this is a non-story. The internet by its very name speaks, to infinite, access, to all sorts of travel options, the, notion, that one, portal, could dominate it, to our detriment, is not serious, let's move on from this patrice john makes an excellent point we've talked about this before it's terms of regulations, on, technology. If, these, regulators, were that good they wouldn't stand for a 60 thousand dollar government salary, they'd be working for Google at a million bucks right it. Sounds like some sour grapes, yeah, but really when we think about the hotels here who are partnering with Google you know I think it's a it's a demonstration, of an industry, that's been disrupted. Actually. Trying to innovate you, know and these you, know the intermediary. Companies they've. Seen there their competitive, edge evaporate. And now they're crying foul but, this is the marketplace and we as consumers we, benefit, all right I'm gonna try to take the the, point of view of some of the regulators bill and the fact is is that Google does have this extraordinary. Power over, the Internet, because, 60% of the people go to use it at least for their travel searches. Shouldn't. There be some attempt. Or at least a spotlight, on exactly. What they're doing to try to make more money and, rip. Off some consumers, David, your theory, is that, Google is engaging in unfair competition, by, having too many eyeballs, and I want to tell you David this is a totally European way of looking at the equities they're always trying, to put fines on American, tech, companies, for the crime of being too successful well, remember, I'm playing the devil's advocate here Steve but just extend. That, a little, bit further they'd say look there's, there's got to be some way if. You don't disband. Google and I don't think anybody's, calling, for that there's got to be some way to at least highlight. At least put the spotlight on what they are doing by trying to keep out the competition well, that's what we're doing here getting the word out and with the internet the word gets out instantly, these days and people respond, to the opportunity, of coming, up with better deals a Google for example in facebook discriminated. Against conservative, websites, as a reaction of growing against that alternatives. Are beginning to crop up so, let free markets work free markets are free people finding ways to take advantage and offer new opportunities so. Bruce there's some people that are going to look at this editorial, in the Wall Street Journal and say this is opportunity, this isn't an excuse, to regulate, Google this is opportunity, to start something to compete with Google, you're. Kind of scaring me waving that Wall Street Journal, and. I. Would, say listen, I people, should shop around if, they if they aren't worried that Google is screwing. Them over and getting a better deal they should they should not go to just one site, that would be my advice but. It's certainly something that should be kept close a close eye on John, aren't you at least in favor of exposing, this of giving. This some sunlight, to disinfect, the problem yeah I want the sunlight because I want to cheer on Google, the fact that they've got sixty percent market.
Share People, go there first is a sign that they're filling fulfilling, a massively, unmet, market, need why, get into business other than to pursue monopoly. Profits, and if, you succeed, you fulfill, the need and you, have set yourself up for competition in, a free market place I love it when John's head is about to explode with. All three market ideas it's great it's a good place to end will thank you guys well, the Kachin in gang getting ready to roll at the bottom, of the hour Lauren, what do you got hey David president, Trump's triumphs, and tribulations. We look at his accomplishments. In 2017. And what he needs to do in 2018. To boost the economy. Plus, did China just get busted, secretly, selling oil to North, Korea, what it could mean for peace as, we head into the new year I'll see you at, 11:30, thanks, Lord we will be watching but up here first this, is the last weekend, make a donation, to favor charity. Get a deduction for, 2017. An NBA, coach Gregg Popovich says. If you're rich you should be giving a lot more than you are but do Americans, really need to be told that. San. Antonio, spurs coach gregg popovich. Suggesting. Wealthy americans should be spending more on charity, than they do here's, what he said because. We're rich as hell and we don't need it all and other people need it then you're an a if, you don't give it pretty, simple so. Patrice, this is the last weekend, you can make a 20-17, contribution, to get your deduction, should we take Popovich, to heart and give a little more only. In as much as we think that Americans, are charitable and should give to whatever they cause they believe in but he's absolutely wrong, to try to guilt-trip people into. Charitable. Giving I mean it's from a mentality, that says you, know you earned it but you earned it at the expense of someone else when in fact people, who are wealthy or, are their job creators there are people who taken the risk and the market has rewarded them with that wealth now it's great if they give but, there's no moral imperative, for them to but, even Bill if you're looking at how much Americans. Give we are givers, that, Eclipse everybody, else we give 1.4. Percent of, our. Our GDP. To charities, the next closest. Country that does as Canada. 0.77%. So, we are big givers already built well we are too stingy I think, and I'm guilty of that too but here's a parcel, solution, and LU of some of our usual gift-giving my wife and I have allowed our kids to, direct money to, charities, that they care about it's really open to our eyes that's not a bad idea but, again Steve we give three hundred ninety billion. Dollars away. To charities. That's a lot of money yes, David in the last 60 years per, capita, per person in this country giving. Has gone up three and a half fold when the American people have more they give more we're the most philanthropic nation. Ever invented, the most commercial, nation ever invented, and those are two sides of the same coin meeting. The needs and wants of other people we create resources we, give away resources, to those who need it and Bruce guess who's giving it away the people you love the top 1%, 1/3. Of all contributions, to charities, are given by that evil, top, 1%. Well. As they should and, now maybe they'll be able to have more money to get more given, this massive. Tax cut that they're getting but but, listen gregg popovich comes. From a interesting. Perspective, he's, a veteran of the Air Force, he's.
A Person, of service and, so I don't think you, know he should be criticized, because I think that's his message you know there's there's also other ways to give time, talent, and treasure and, and this is the season of giving and hopefully people are doing that well and also we should mention by the way that it was the media that really put, on that guilt trip that he was guilt tripping people I it wasn't necessarily, from his statement it might have been the media spin on what, he said but John what do you think about all this do Americans give enough well, I think Popovich. Should stick to basketball, about which he knows endless, amounts, the reality, is that the path to getting rich is the biggest contribution. To society why, do we think someone, who's brilliant at business has a clue about charity. Invariably. When they give to charity, they reduce their contribution. To society well. I'm. Not so sure about that, I think. There's some theory though that if people do get more prosperous, they certainly will be more generous and this is going to be a good century for generosity, well Patrice that's the point it's. True that when you create things and build things you're also usually helping, other people in terms of giving them jobs and pay raises and stuff but it's also true that the more money you make the more people at least Americans, do give it away it doesn't necessarily, happen in other countries but it does happen here that's. Exactly right and when you look at why there's. A strong sense, of commitment. To your community in, wanting to do better because you think that individuals. Are more effective, at, intractable. Solutions, than the government, but then there's also the religious, aspect, so when you look at the number of people who give in the United States a good. Number of them are giving - -, to religious, organizations something, like 39 percent, there's, that American spirit that's tied to religion but also just tied to community, and Steve there's something else that's unique to America, and John Tammany pointed it out.