Transcript - Interview: Maria Bartiromo Interviews Donald Trump on Fox Business - October 22, 2017 | Factba.se

Maria Bartiromo

00:00:00 - 00:00:02 (2 sec)

Mr. President, thanks so much for sitting down with me today.

Donald Trump

00:00:02 - 00:00:02 (1 sec)

Maria Bartiromo

00:00:02 - 00:00:19 (17 sec)

Here we are in the week that the Dow Jones industrial average just hit 23,000, 5 1/3 trillion dollars of market value created since your election and largely because of this anticipation and hope that your policies will get implemented. Tell us where we stand on the tax plan right now.

Donald Trump

00:00:19 - 00:01:09 (50 sec)

We're doing very well. We will -- we had a fantastic vote as you know, and budget is indirectly passed. Now, it is going to go through a little bit of an iteration but it's going to end up I think again doing very well and I think we are going to get our taxes. I think it is going to be -- well, hopefully before the end of the year but maybe much sooner than that. You know, there's great spirit for it, people want to see it and I call it tax cuts. It is tax reform also but I call it tax cuts. It will be the biggest cuts ever in the history of this country. And I think that there's tremendous appetite, there's tremendous spirit for it. Not only by the people we're dealing with in Congress, but for the people out there that want to see something, $5,000 -- almost, it can be $5,000 average per individual per group. And -- so I'm really looking forward to it. Let's see what happens.

Maria Bartiromo

00:01:09 - 00:01:19 (9 sec)

It could be quite historic. I know that this weekend is the 31st anniversary of when President Reagan last instituted tax reform.

Donald Trump

00:01:19 - 00:01:20 (2 sec)

That's right, on Sunday. That's a big deal.

Maria Bartiromo

00:01:20 - 00:01:25 (4 sec)

That's a big deal, on Sunday exactly. Do you think you have the votes?

Donald Trump

00:01:25 - 00:02:10 (46 sec)

I think we have the votes. I think that Rand Paul is actually going to vote for the tax cuts. I think that other people -- you know, we had tremendous enthusiasm this time. Healthcare, I was told was tougher, but it was close. I mean, so far I would say it's not even a contest. And I will tell you speaking of healthcare, I believe we're going to get that also. It will be in the form of block grants to the different states, and it will be a wonderful healthcare. It will be a tremendous healthcare, managed properly in smaller doses where you can really do it much more individually. So I think we're going to get that also in a little bit later probably in three or four months from now. But I do believe we will have that long before the election in '18. As far as taxes are concerned, you see what's happening. It is really doing well, great enthusiasm.

Maria Bartiromo

00:02:10 - 00:02:16 (6 sec)

Yes, you soured on the healthcare bipartisan plan a bit; right, from Lamar Alexander and Patty Murray?

Donald Trump

00:02:16 - 00:03:12 (57 sec)

Well, I have looked at it very, very strongly and pretty much we can do almost what they are getting. I think he is a tremendous person. I don't know Senator Murray. I hear very, very good things, but I know that Lamar Alexander is a fine man, and he is really going to do good for the people. We can do pretty much what we have to do with that. You know, the Secretary has tremendous leeway in the -- under the Obama plans. One of the things that they did because it was so messed up, they had no choice, but to give the Secretary leeway because they knew he would have -- he or she would have to be changing all the time. And we can pretty much do whatever we have to do just the way it is. So this was going to be temporary, prior to repeal and replace. We're going to repeal and replace ObamaCare. And I think we actually have the votes. People are criticizing me for saying that. I think we actually have the votes for that. You know, we were basically one short and I think we're going to have the votes for that also, Maria.

Maria Bartiromo

00:03:12 - 00:03:34 (22 sec)

Yes, I'm going to ask you about that because even your supporters say, you know, he has fantastic policies. We want to see this through, but the bickering and the feuding actually gets in the way. So obviously the feuding with Senator Corker, I think there's a personal thing going on between you and Senator McCain, do you worry that this bickering and feuding gets in the way of your agenda?

Donald Trump

00:03:34 - 00:04:25 (51 sec)

No, and sometimes it helps to be honest with you. So, we'll see what happens in the end. But I think, actually sometimes it helps. Sometimes it gets people to do what they are supposed to be doing and you know that's the way it is. I just want what's right. And I think, for the most part, they want what's right too. So we'll see what happens. But I do believe we have the votes for healthcare at the appropriate time and I think that we're going to have the votes for taxes. And I will say the fact that healthcare is so difficult, I think makes the taxes easier. The Republicans want to get it done. And it's a tremendous tax cut. I mean, especially for the middle class, and especially for business. We have, you know, we're losing our companies. We have companies leaving. And I have to say since I've been elected, that's really stopped. It's really slowed down. There's a tremendous enthusiasm for business in this country so a lot of things have changed.

Maria Bartiromo

00:04:25 - 00:04:27 (2 sec)

And you see the job creation as well.

Donald Trump

00:04:27 - 00:04:29 (1 sec)

It's been so fantastic.

Maria Bartiromo

00:04:29 - 00:04:39 (10 sec)

If they can't get this tax bill done this year, should they forego Thanksgiving and Christmas? Should they be here if they don't have a bill on your desk by Thanksgiving?

Donald Trump

00:04:39 - 00:05:27 (49 sec)

Well, I think they should and I think they will. I think a lot of things are happening unless, you know, it's going to right after that. But I don't even like them leaving, but I will say this, I want to get it by the end it was year, but I would be very disappointed if it took that long. It could be substantially less than that depending on what happens when we send the bill back to the House. You know, they'll send it back and people are going to go and you know, make 200 suggestions as opposed to maybe no suggestions, because it's a great bill. It's going to be a great bill. And we're adjusting. We're adjusting so that there's no way that the middle class doesn't greatly benefit. Every once in a while there's a method under which, you know, it could be that some people in the middle class won't benefit as much as we want them to benefit, and we're making certain adjustments, but I think we're going to have it sooner rather than later.

Maria Bartiromo

00:05:27 - 00:05:39 (12 sec)

Paul Ryan did an interview this week and said you are insisting that they have a fourth bracket. It is on your insistence that they have a fourth bracket. I know that you are very focused on the middle class, but do you want to raise taxes on the rich for the fourth bracket?

Donald Trump

00:05:39 - 00:06:10 (31 sec)

Well he really said that on the basis that I wanted it or was thinking about it because I want to make sure the middle class gets taken care of, so in that way, yes. But actually, we do have four brackets because we have a zero bracket and people aren't including that. So that would make it a fifth bracket as opposed to an eighth bracket on the other -- on the other side, on the other way. I call it our competition, which is the competition of the past. No, I think that when Paul says that -- we may not have that but I would rather do that than do anything to hurt the middle class.

Maria Bartiromo

00:06:10 - 00:06:24 (14 sec)

But see, that's what I don't understand and I followed your policies really closely. The state and local income tax deduction elimination, you take that away. And then you go to a fifth bracket or a fourth bracket however you want to say it and you get a higher rate for the top earners.

Donald Trump

00:06:24 - 00:06:25 (1 sec)

Maria Bartiromo

00:06:25 - 00:06:32 (6 sec)

If the top earners pay 80 percent of the taxes, why are you so afraid to cut taxes on the top earners?

Donald Trump

00:06:32 - 00:06:37 (5 sec)

I think this, look, you know, I am very happy with the way I've done prior to this in my civilian life, all right?

Maria Bartiromo

00:06:37 - 00:06:39 (3 sec)

Of course. This is not about this.

Donald Trump

00:06:39 - 00:06:54 (15 sec)

Other people -- well, it's about me representing rich people, let's say, representing -- you know, being representative of rich people. It's very interesting to me, Bob Kraft [Inaudible] was very nice. He owns the Patriots. He gave me a super bowl ring a month ago.

Maria Bartiromo

00:06:54 - 00:06:56 (2 sec)

But [Inaudible] have kids, right?

Donald Trump

00:06:56 - 00:07:06 (9 sec)

And he left -- which was very nice -- yes that's right. But he left this beautiful ring and I immediately give it to the White House and they put it someplace, and that's the way it is.

Maria Bartiromo

00:07:06 - 00:07:06 (1 sec)

Donald Trump

00:07:06 - 00:07:47 (41 sec)

But he said to me -- he's a good man -- he said to me, you have to do us all a favor. Give the tax decrease to the middle class. We don't need it. We don't need it. We don't want it. Give it to the middle class. And I've had many people very wealthy people tell me the same thing. I've had very few say I want more. I want more. They really want to see -- you know, the middle class has really not done very well over the last long period of time. And so when Paul mentions maybe one more category -- which I would rather not have, it may not happen. But the only reason I would have -- and he does say this, he's very plain on what he said, is if for any reason I feel the middle class is not being properly taken care of. [Commercial Break]

Donald Trump

00:07:47 - 00:07:58 (11 sec)

We need a corporate tax down, you know, maybe it's the most important. We have a lot of most importants, but bringing it down from 35 down to 20 percent, that's a massive -- that's the biggest that we have ever done.

Maria Bartiromo

00:07:58 - 00:08:00 (2 sec)

That's a big deal on the corporate rate, for sure.

Donald Trump

00:08:00 - 00:08:39 (39 sec)

It is a big deal for companies, it is a big deal for investment. I think one of the other ones is expensing. You know, when you write something off in one year, as opposed to, you know, over many years, I think that's going to be tremendous. We have so many things in this plan that are going to be for growth. And, you know, your next question is going to be deficits, and I fully understand that and we all understand it and growth. If we pick up one point on GDP that's 2.5 trillion dollars, if you think of it, 2.5. It more than pays for everything. And I think we pick up much more than one point. And I've been the one that's saying we're going to hit three sooner rather than later. Well last quarter, we hit 3.2.

Maria Bartiromo

00:08:39 - 00:08:39 (0 sec)

Donald Trump

00:08:39 - 00:09:01 (22 sec)

We haven't been -- Maria, we haven't been there in a long time. It's been a long time. As you know, the previous administration didn't hit it for the year for eight years. In eight years it didn't hit it at all. Here we hit it in, you know, an early quarter from me. And actually, before that it was down in the ones, it was down in the ones.

Maria Bartiromo

00:09:01 - 00:09:03 (3 sec)

People got used to like 1 1/2 percent growth for a long time.

Donald Trump

00:09:03 - 00:09:30 (26 sec)

You know, I call up -- I become friendly with leaders of other very, very, you know, large countries. And I would say how are you doing, and they would say we are not doing well. We are not doing well. GDP is at seven percent, GDP is at eight percent. We are not happy. And I'm saying you know we had it at one percent. So I really think we can do much more than a point. Let's see what happens. But one point is 2 1/2 trillion and millions of jobs.

Maria Bartiromo

00:09:30 - 00:09:42 (12 sec)

Let me ask you about your courting of the Democrats recently. I mean, the reason that I brought up this other bracket is because I feel like the Republicans get bullied by the left, by this whole talking point of it's always tax cuts for the rich. You've been --

Donald Trump

00:09:42 - 00:09:44 (2 sec)

Yes. By the way that's an automatic talking point.

Maria Bartiromo

00:09:44 - 00:09:45 (1 sec)

Donald Trump

00:09:45 - 00:09:45 (0 sec)

Maria Bartiromo

00:09:45 - 00:09:47 (2 sec)

So, did you get bullied again? Are you getting bullied again?

Donald Trump

00:09:47 - 00:09:51 (4 sec)

I don't think so. I mean, it doesn't seem like it. We just got the budget passed.

Maria Bartiromo

00:09:51 - 00:09:52 (1 sec)

If you get a fifth bracket --

Donald Trump

00:09:52 - 00:10:27 (35 sec)

But here the thing. Schumer, I like Schumer. But before he even knows the plan he says, oh, this is for the rich. He doesn't even know what the plan is and he's screaming it for the rich. He did it with healthcare too. He said this is for the rich, this is for the rich. You're not going to get your coverage. Everyone is going to go into hospitals. It is going to be terrible. The world is coming to an end. OK. He didn't even know what the plan was. That's OK. You know, we're all learning politics; right? And he said that. He says the same thing because I saw him two days ago before he really knew what was happening. He said, oh no it's for the rich. That's an automatic statement. It's like in business, you ask for twice as much. I mean --

Maria Bartiromo

00:10:27 - 00:10:30 (2 sec)

Right. But you go back with Chuck Schumer.

Donald Trump

00:10:30 - 00:10:30 (0 sec)

I do. I do you.

Maria Bartiromo

00:10:30 - 00:10:31 (1 sec)

I mean, both from your --

Donald Trump

00:10:31 - 00:10:31 (1 sec)

No, I've always--

Maria Bartiromo

00:10:31 - 00:10:34 (3 sec)

Do you think this is helpful in terms of the negotiations?

Donald Trump

00:10:34 - 00:11:15 (41 sec)

I don't think it matters. I mean, I really don't. But I met with the Senate Finance Committee. I met with the Republicans, Democrats together right across the hallway two days ago. We had a great meeting. Ron Wyden was their Chairman. We had a fantastic meeting. There's a lot of similarity. They want tax cuts also, Maria. They want tax cuts and they want them as fast as possible. Now, they don't want to say it, and they are saying, oh gee, you know, the middle -- the middle class -- I call them the working people because they are really the working people -- but the middle class doesn't benefit. That's their standard. But they know they do benefit. They are the big beneficiaries. The other thing -- the other big beneficiary is jobs, wages.

Maria Bartiromo

00:11:15 - 00:11:16 (1 sec)

And that's been your priority.

Donald Trump

00:11:16 - 00:11:27 (11 sec)

Well, it's been my priority. And if you look at what I've done between regulation -- I've cut more regulations in nine months than any President has cut during the entire term that they were in. Nobody's cut - -

Maria Bartiromo

00:11:27 - 00:11:34 (6 sec)

You're better than President Bush, I mean, the federal pages are down 30 percent under your leadership

Donald Trump

00:11:34 - 00:11:35 (2 sec)

Well, and by the way, I've just begun because --

Maria Bartiromo

00:11:35 - 00:11:36 (1 sec)

So there more regulation that are about to come?

Donald Trump

00:11:36 - 00:11:59 (22 sec)

-- there's so -- well there's a lot more. I mean, really a lot more. I mean, I think I can double it before it's over. But a lot of it is statutory, we have to give a 90-day notice and then you have to give a 120 day. We've given those notices. I mean, we're going to be doing a lot more. But you look at you know, Keystone Pipeline, Dakota Access Pipeline, these were all dead projects. I approved them in my first few days. I mean, literally in my first few days.

Maria Bartiromo

00:11:59 - 00:12:17 (18 sec)

See, I think that's why we have a frequent one percent GDP because of the regulation rollback that you did. There were some industries that are not that regulated. I'm wondering what you think about tech right now because you have these companies that are more powerful than ever before. They've got everything, all this data on us. They are selling the data. Should the tech companies be more regulated?

Donald Trump

00:12:17 - 00:12:44 (28 sec)

Well I guess some people talk about freedom and other people talk about we want to know who is taking ads or doing whatever, and I would imagine something is going to come down along the line like we're doing right now for regular, you know, whether it's commercial or not, for a normal broadcast company. It will be very interesting to see. You know, that's an argument that's happening right now. It will be very interesting to see -- there's two very distinct views on that. I can go -- honestly, I can go either way on it.

Maria Bartiromo

00:12:44 - 00:12:48 (3 sec)

Mr. President, who do you want to see running the Fed?

Donald Trump

00:12:48 - 00:13:10 (22 sec)

Well, as you know, I've been seeing a number of people. And most people are saying it's down to two, Mr. Taylor, Mr. Powell. I also met with Janet Yellen who I like a lot. I really like her a lot. So I have three people that I'm looking at and there are a couple of others. I'd say, I will make my decision very shortly, pretty shortly.

Maria Bartiromo

00:13:10 - 00:13:17 (8 sec)

Isn't there a way you can that you can get Taylor and Powell in there because you've got a Vice Chairman opening as well. You can actually put them both in there. Is that in your thinking?

Donald Trump

00:13:17 - 00:14:47 (90 sec)

It is in my thinking and I have a couple of other things in my thinking, but I like talent. And they are both very talented people. And it's a hard decision. It's actually a very, very important decision. People have -- most people have no idea how important that position is. That position is actually more -- a lot of people say get rid of the Fed, take the Fed out. The Fed is a very important position. It's also important psychologically, if the right person is in there, a lot of good things can happen. I think I'm doing a good job for business in that way. People are coming into country. You saw what's happened with Foxconn going to Wisconsin. You see what's happening with Apple where they are going to --I said to Tim -- I said to Tim Cook. I said Tim, I want some of these big beautiful plants that I see in China, they have to open in this country. You've got to give me some big beautiful plants. It's happening. It's all happening. The auto companies are coming back into our country, coming up to Michigan again. They're going back. We're not going to be taken advantage of. We were taken advantage of by -- I wouldn't say the company so much but by other countries. We were so badly taken advantage of. As you know we're negotiating with NAFTA and they have an election right now and lots of things, but at some point, either NAFTA will be renegotiated so that it's fair to the United States or it will be terminated. It's very simple. People think that's a very tough statement but it will probably be renegotiated. But if it's not successfully renegotiated so it's fair for the United States, it will be terminated. [Commercial Break]

Donald Trump

00:14:47 - 00:15:37 (50 sec)

He is a very elegant man. He is a tough strong Four Star Marine. If you're Four Star Marine, you're -- you've got something special to start off with, OK? General Mattis, General Dunford also, but very few. He was so offended because he was in the room when I made the call and so were other people. And the call was a very nice call. He was so offended that a woman would be -- that somebody would be listening to that call. He was -- he actually couldn't believe it. Actually, he said to me, Sir, this is not acceptable. This is really not -- and he knew -- I was so nice -- I was -- look, I've called many people and I would think that every one of them appreciated it. I was very surprised to see this, to be honest with you.

Maria Bartiromo

00:15:37 - 00:15:39 (2 sec)

He spoke very well yesterday.

Donald Trump

00:15:39 - 00:15:50 (11 sec)

And by the way, I spoke of the name of the young man, and I -- it was -- it was a really -- it's a very tough call. Those are the toughest calls.

Maria Bartiromo

00:15:50 - 00:15:51 (1 sec)

It's a very tough --

Donald Trump

00:15:51 - 00:16:09 (18 sec)

These are tougher than dealing with the heads of countries, believe me. These are very, very hard calls. They are sad and sometimes, you know, the grieving is so incredible. But he's just an elegant man and a wonderful man, and he is doing a fantastic job as Chief.

Maria Bartiromo

00:16:09 - 00:16:15 (6 sec)

The Congresswoman Frederica Wilson, she said oh, everything he said was because he's just trying to keep his job.

Donald Trump

00:16:15 - 00:16:31 (16 sec)

Yes, he doesn't need this job. In fact, he didn't really want this job. He was so happy -- you know, he's a military guy. He was doing this incredible job on the border and elsewhere. You know, he ran Homeland like nobody has ever run it, down 78 percent at the border crossings.

Maria Bartiromo

00:16:31 - 00:16:32 (1 sec)

It's incredible.

Donald Trump

00:16:32 - 00:17:02 (31 sec)

That's before the wall. He was -- there's nobody close. You go to the original first day, there was nobody close to doing the job. And I said I'd like to take you. How would you like it? And it's not that he wanted it. Actually, he would have preferred doing and staying where he was. He's a man that felt it would be important for the country. He does it for the country. He's not doing it for what he wants. He does it for the country. He's a very unusual man. So when she made that statement, I thought it was sickening actually.

Maria Bartiromo

00:17:02 - 00:17:10 (8 sec)

I just want to ask you before I lose you about the border. And you've said you want a legislative fix for DACA. What else do you need to see in terms of the border? What do you want overall?

Donald Trump

00:17:10 - 00:17:52 (42 sec)

Well, we're going to see -- we are working on DACA. We will see if we can get something with DACA. We have to build the wall. We have to -- all you have to do is look at what's happening in Mexico. We have to build a wall. We're going to stop drug trafficking to a large extent. I mean, what's happening with drugs -- and I'll be making a big announcement on that next week -- what's happening with drugs in our country -- and by the way, in the world, it is not like we're singled out, but it's never been like this. And a lot of the drugs come through that southern border and we need a wall. We're going to have a wall. We have to -- I would like to do something with DACA. And we are negotiating right now with the Democrats. We will see if we can come up with a solution. But I can tell you, I and the Republicans are very open to it. We have to get something in return.

Maria Bartiromo

00:17:52 - 00:18:09 (17 sec)

And last week on this program, we had Prime Minister Benjamin Netanyahu. He commended you. He congratulated you for decertifying Iran in what you did last week. Do you think you're going to get Europeans to support you in terms of sanctions, in terms of not selling technology to Iran?

Donald Trump

00:18:09 - 00:18:49 (40 sec)

Honestly I told them -- they are friends of mine. They really are. I get along with all of them. Whether it's Emmanuel or whether it's Angela. I get along -- I really like those people. I told them just keep making money. Don't worry about it. We don't need you on this. You just keep making money. When Iran buys things from Germany, the from France, and from the various you know, by billions of dollars, even us, you know, they were going to buy Boeings. I don't know what's going to happen with the deal. We'll see what happens with the deal. But when they buy those things, it's a little harder for those countries to do something. Would they do it if I really was insistent? I believe they would. I told them, just keep making money. Don't worry, we don't need you on this one.

Maria Bartiromo

00:18:49 - 00:19:00 (11 sec)

And on North Korea, is our policy with China just about what it does with North Korea or do we have a separate policy with China for something else?

Donald Trump

00:19:00 - 00:19:42 (42 sec)

China has been -- I've developed a very good relationship with President Xi. President Xi is now going through his congress and it's going to be something very soon that's going to happen that gives him something that few leaders of China have ever had. And I'm really good with that. And to be honest, I told him this. I want to keep things very, very low key until such times as he gets that. I want him to get that. I think he deserves it. He's a good man. They have been helping us. They're closing off their banking systems to North Korea. They have cut the oil way down. Now the banking systems we can see because it all comes through here, as you know. The oil you can never really see what's going on, but the oil is way down. The oil is -- they are doing a lot of things.

Maria Bartiromo

00:19:42 - 00:19:43 (1 sec)

For the first time ever?

Donald Trump

00:19:43 - 00:20:38 (55 sec)

For the first time ever. There was a recent article that said I had the greatest relationship of any President the two of us and I think we do. I really do. I don't want to be foolish. He's for China and I'm for the U.S. OK. So we start off with that. But we do have a very good -- I would say an exceptional relationship. And China's really helping us. And with respect to North Korea, look, 93 percent of the things going into North Korea come through China. China is big stuff. I believe he's got -- he's got the power to do something very significant with respect to North Korea. We'll see what happens. Now, with that being said, we're prepared for anything. We are so prepared like you wouldn't believe. You would be shocked to see how totally prepared we are if we need to be. Would it be nice not to do that? The answer is yes. Will that happen? Who knows. [Break in Interview]

Donald Trump

00:20:38 - 00:20:55 (17 sec)

It's such an interesting question because I have friends that say oh don't use social media. See I don't call it tweets. Tweeting is like a typewriter. When I put it out, you put it immediately on your show. I mean, the other day I put something out, two seconds later I'm watching your show it's up. Donald Trump --

Maria Bartiromo

00:20:55 - 00:20:58 (3 sec)

You're right. We're watching your Twitter feed.

Donald Trump

00:20:58 - 00:21:29 (31 sec)

And they're well crafted. I was always a good student. I'm like a person that does well with that kind of thing. And I doubt I'd be here if it weren't for social media to be honest with you because there is a fake media out there. I get treated unfairly by the media. And I have a tremendous platform. I think I have 125 million people between Twitter, Instagram and all of them, and Facebook. I have a tremendous platform. So when somebody says something about me, I'm able to go bing, bing, bing, and I take care of it. The other way, I'd never been able to get the word out. [Commercial Break]

Maria Bartiromo

00:21:29 - 00:21:31 (2 sec)

[Video Ends] Do you get any sense of this fifth bracket? I mean, if you do a fifth bracket, is that a million dollars, $2 million? What's the number?

Donald Trump

00:21:31 - 00:21:32 (1 sec)

I don't think we'll use a fifth bracket. I only will use a fifth bracket if for any reason I feel the middle class is not get as much as I thought they would or as much as they are entitled to. They're entitled to a lot. This is really about the middle class, truly about the middle class and about jobs. And if I feel the middle class is not getting what I want them to get, and that's going to be a lot because I want them to get really a lot, then I'm going to do a fifth bracket which will give them more.