NEIL: ALL RIGHT.
HERE IS THE GOOD NEWS, THE
ECONOMY IS ON FIRE AND JOBS ARE
SURGING AT A RATE WE DID NOT
EXPECT, 250,000 ADDED IN
NOVEMBER.
NOW HERE'S THE BAD NEWS.
IN OCTOBER, I SHOULD POINT OUT.
HERE'S THE BAD NEWS.
PEOPLE ARE QUICKLY INTERPRETING
THAT THE FEDERAL RESERVE WILL
HAVE TO HIKE INTEREST RATES PER
SCHEDULED IN DECEMBER, AGAIN IN
FEBRUARY.
AGAIN SIX WEEKS LATER IN LATE
MARCH.
THAT THINGS ARE GOING ALONG SO
WELL, THAT JUST TO KEEP UP WITH
THAT THE FEDERAL RESERVE WILL
HIKE, HIKE, HIKE.
THAT HAS A LOT OF PEOPLE
CONCERNED MAYBE THAT COULD TAKE
THE FIRE OUT OF THE ECONOMY
ITSELF, NO LESS THE PRESIDENT OF
THE UNITED STATES.
CO-FOUNDER HOME DEPOT BERNIE
MARCUS WHETHER THAT IS A
LEGITIMATE THREAT.
WHAT DO YOU THINK, BERNIE?
>> OF COURSE IT'S A THREAT,
NEIL.
YOU'RE LOOKING AT A ECONOMY
GOING VERY WELL.
THEY SAY THE POLITICS ARE NOT IN
THE FEDERAL RESERVE BUT
MEANWHILE DURING THE OBAMA
ADMINISTRATION THEY KEPT
INTEREST RATES ALL THE WAY DOWN.
AS SOON AS TRUMP GETS IN, WHAT
DO WE HEAR FROM POWELL?
WE'LL RAISE THE RATES.
WE'RE GOING TO RAISE THE RATES.
WHICH IS NO REASON TO RAISE THE
RATES.
WHY WOULD YOU WANT TO COOL THE
ECONOMY AT THIS POINT.
ALMOST DRIVING YOUR CAR, PUTTING
FOOT ON THE BRAKES, WHILE YOU'RE
TRYING TO PUT FOOT ON THE GAS.
DOESN'T MAKE ANY SENSE.
THEY RAISES IT A COUPLE TIMES.
THE THREAT IS TO RAISE IT TO 3%.
THAT THREAT IS ENOUGH TO KNOCK
THE MARKETS DOWN.
SO, I JUST DON'T BELIEVE IT., I
DON'T BELIEVE IT'S A GOOD IDEA.
OBVIOUSLY IT WILL PUT A DAMPER
ON ECONOMY.
NEIL: WHO RUNS IT, FINDING
BALANCE KEEPING THE RECOVERY
GOING AND GETTING INFLATION OUT
OF CONTROL.
YOU DON'T THINK RISK OF DOING
LATTER, RIGHT?
>> OH, I THINK I THINK THERE IS
A RISK.
I THINK WE CAN DRAG THE ECONOMY
DOWN, I REALLY DO.
IF THEY CONTINUE, HE IS TALKING
ABOUT 3%.
HE IS TALKING ABOUT RAISING IT
PAST THAT.
SURE IT IS GOING TO HAVE AN
EFFECT ON THE ECONOMY.
IT WILL, IT WILL.
THE COST OF MONEY, THE COST OF
BORROWING, IT WILL GO UP.
IT WILL HAVE AN EFFECT ON
HOUSING.
IT WILL HAVE AN EFFECT ON CAR
LOANS.
EVERYTHING OUT THERE, IF YOU
WANT TO PUT A DAUM -- DAMPER ON
THE ECONOMY THIS IS A GOOD WAY
TO DO IT.
NEIL: WHAT DO YOU THINK ABOUT
THE MIDTERMS?
YOU'RE GETTING DIFFERENT READ
DEPENDING ON PEOPLE YOU TALK TO,
CONSENSUS AS YOU HEARD IT,
REPUBLICANS LOSE THE HOUSE, HOLD
ON TO THE SENATE, MAYBE BOOST
THEIR NUMBERS IN THE SENATE BUT
DO YOU SEE ANYTHING THAT GETS IN
THE WAY OF THAT CONSENSUS?
>> WELL, LOOK, I WOULD HATE TO
SEE THEM LOSE THE HOUSE.
I THINK THEY WILL KEEP THE
SENATE BUT YOU KNOW, YOU KNOW
MORE THAN I DO, NEIL.
YOU'RE AROUND EVERYBODY THAT
DOES THIS, PROJECTING --
NEIL: I THINK THEY'RE WRONG.
I THINK REPUBLICANS HANG ON TO
THE HOUSE BUT YOU SHOULD
PROBABLY RUN THE OTHER WAY.
I'M JUST SAYING THAT I THINK
THAT IS SO BAKED INTO THE CAKE
HERE, I'M LOOKING AT 30 SOME ODD
RACES IN THE HOUSE, FEWER THAN
FIVE POINTS.
ANYTHING CAN HAPPEN, MAYBE WILL
HAPPEN.
I JUST WONDER ABOUT THAT, THAT'S
ALL?
>> YOU KNOW, I STARTED JOB
CREATORS NETWORK.
YOU KNOW WHAT THAT IS, NEIL.
NEIL: SURE.
>> REPRESENTING SMALL BUSINESSES
ALL OVER THE UNITED STATES.
I CAN TELL YOU THEY HAVE BEEN ON
THE BUS TOUR AROUND THE COUNTRY
TALKING ABOUT TAX CUTS MEAN
SOMETHING.
THAT TAGS CUTS ARE IMPORTANT.
BUT THEY JUST DID A SURVEY,
RASMUSSEN DID IT, AND IN THE
SURVEY SOMETHING VERY
SURPRISING.
36% OF THE RECIPIENTS OF THE,
DID NOT KNOW THAT GOT A TAX CUT.
SO ALMOST 40% OF THE PEOPLE
DON'T EVEN KNOW THEY GOT A TAX
CUT.
YOU KNOW, MANY PEOPLE GET THEIR,
GET THEIR PAYROLLS THROUGH
ELECTRONICS.
GOES RIGHT TO THE BANK.
THEY DON'T SEE THE STUB.
WHEN I GREW UP YEARS AGO YOU
WOULD SEE THE STUB EVERY YEAR,
YOU KNEW WHAT YOU WERE PAYING
EVERY SINGLE WEEK.
YOU SAW IT COMING DOWN.
36% DON'T KNOW THEY GOT A TAX
CUT.
THERE IS SOMETHING WRONG WITH
THAT.
AND I THINK THAT, NOW, TRUMP IS
TRYING TO SELL THAT BUT, MANY
PEOPLE DON'T BELIEVE IT.
BUT I WILL TELL YOU THIS MUCH,
IN THE SURVEY, IT SAID PEOPLE,
75% OF THE PEOPLE, MAYBE MORE,
BELIEVE TAX CUTS ARE RIGHT, THAT
DEREGULATION IS RIGHT.
SO YOU HAVE THIS DICHOTOMY OF
WHAT THEY BELIEVE AND WHAT THEY,
THEY DON'T KNOW WHAT THEY GOT.
IT JUST DOESN'T MAKE ANY SENSE.
NEIL: I THINK, BERNIE, A LOT OF
THIS STUFF, I DON'T KNOW IF IT'S
A BIAS THING OR SOMETHING, IT IS
FAIR TO SAY DISPROPORTIONATELY A
LOT OF TAX CUTS WENT TO
CORPORATIONS, WEALTHY
INDIVIDUALS MAKE MORE MONEY,
EVEN INCREMENTAL TAX CUT, THEY
GET MORE MONEY.
I UNDERSTAND HOW THAT WORKS AND
UNDERSTAND THE RAGE HAPPENED, I
DIDN'T GET MY SHARE, BUT YET,
75% OF AMERICAN FAMILIES DID IN
FACT GET A TAX CUT.
THE AVERAGE WAS $2500 A YEAR.
IT IS REFUTABLE MATH.
DOESN'T MATTER WHETHER YOU GET
BLUE IN THE FACE ARGUING IT.
I AM WONDERING WHETHER THE
REACTION IS SUCH, PEOPLE COME
BACK AND SAY, MAYBE THE
DEMOCRATS APPROACH TO THIS IS
BETTER?
MAYBE IN THE NEXT TAX GO ROUND,
I WILL GET A BIGGER BREAK AND
THOSE RICH GUYS WON'T.
THAT IS WHAT THEY'RE HANGING ON.
WHAT DO YOU THINK?
>> I DON'T, IT DOESN'T MAKE
SENSE.
THEY HAVE JOBS.
4.3 MILLION PEOPLE ARE WORKING
TODAY THAT DIDN'T WORK WHEN
TRUMP, WHEN OBAMA WAS PRESIDENT,
SINCE TRUMP CAME IN, 4.3 MILLION
PEOPLE HAVE JOBS.
SO LET'S GO FOR 4.3 MILLION
PEOPLE, THAT WE'RE MAKING --
WEREN'T MAKING MONEY AT ALL OF
COURSE BUT NOW OF COURSE THEY'RE
MAKING MONEY.
NEIL: YOU SAID THIS MANY TIMES,
WHETHER YOU ARGUE THEY COULD
HAVE GOTTEN MORE OR DIDN'T GET
AS MUCH AS THEY COULD HAVE
GOTTEN OUT OF TAX BREAK.
THEY'RE SPENDING MONEY, THAT
CONSUMER CONFIDENCE IS SUCH,
BUOYED NOT FROM THIN AIR.
COMING FROM SOMETHING, RIGHT?
>> WELL, LOOK, I COULD TELL YOU
THIS, JOB CREATORS NETWORK
AGAIN, GOING AROUND THE COUNTRY,
WE MET WITH HUNDREDS AND
HUNDREDS OF SMALL BUSINESS
OWNERS.
EVERY SINGLE ONE OF THEM, BY THE
WAY, WE HAVE THOUSANDS OF
TESTIMONIALS.
THEY HAVE WRITTEN INTO PAPERS,
EDITORIALS IN PAPERS, THIS HAS
BEEN A WONDERFUL JOB CREATOR FOR
SMALL BUSINESSES.
THEY'RE MAKING MORE MONEY THAN
THEY DID BEFORE.
THEY WERE ABLE TO WRITE OFF
EXPENSES.
THEY'RE HIRING PEOPLE.
THEY'RE FIXING UP THEIR
BUSINESSES.
THEY'RE EXPANDING.
SO THERE ARE SOME GOOD THINGS
HAPPENING OUT THERE.
NOW YOU LOOK AT POSSIBLY LOSING
THE HOUSE, YOU SAY TO YOURSELF,
NANCY PELOSI WILL PUT AN END TO
IT?
SHE WILL RAISE TAXES.
SHE WILL PUT BACK REGULATIONS IF
SHE CAN, IF SHE CAN GET IT
THROUGH THE SENATE, WHICH I
DOUBT VERY MUCH.
SHE WILL PUT, IT WILL BE
NEGOTIATION.
IT WILL CREATE ALL KINDS OF
CHAOS.
WHY WOULD THE AMERICAN PEOPLE
VOTE FOR RAISING YOUR TAXES?
I JUST DON'T UNDERSTAND IT.
MAYBE I'M TOO OLD TO UNDERSTAND
THE NEW WORLD.
NEIL: I DON'T THINK YOU'RE TOO
OLD.
I ALSO THINK YOU'RE ONE OF THE
SMARTEST GUYS AROUND.