You're watching...
Home Depot co-founder Bernie Marcus on a lack of leadership in Washington to tackle spending and become more-business friendly.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
If they have time obvious question that Republicans completely lost that Ronald -- -- for -- More politicians other -- -- raising revenue might be the right thing to do the senators Lindsey Graham and John McCain are two of them.
They met with the president today at the White House -- sensibly on immigration but on -- vocal founder Bernie Marcus.
-- doesn't believe there's all budget -- didn't come up including there potential solution that would include.
Higher taxes since the senators share common ground with the president on revenues what then.
And the possibly -- be included in dealing with any budget mess.
All right aunt Bernie I'm listening to this and hearing has some wondering.
I I don't know -- revenues -- the problem here.
Well -- If I had very serious concussion I don't think I go to a podiatrist.
To get my nails cut on my feet I mean this is it's so ludicrous it just doesn't make any sense we have.
A situation.
Where -- raised the taxes.
75%.
On people army which is probably something that some of the Democrats out there would like to do.
What does it do it doesn't solve any of the issues it's not -- over the debt we're still going to be and in terrible that.
It's gonna continue to go to sixty to seventy to -- people -- Earnings relative value care about -- -- and they -- -- the debt doesn't matter spending isn't my problem on so it state it's it's not -- it's invisible.
Then than your your fighting Claude Rains here.
Well you know what they may be eyes yeah I've heard a couple of Republicans say.
You know what let the president do -- he's gonna do.
And then after he destroys the economy kills businesses.
Then we'll have a chance to get back in office.
What -- just got to do with getting back into office what's it got to do with politics my god we -- people.
Over twenty million people out of work today jobs and not being created in the United States -- really as we speak.
You don't see it happening unemployment is still at a very high level and why are we addressing the things that really make a difference.
Rather than talking about the politics of it.
The president is running on as though he still.
The the way I look at -- November's another election for him.
The election's over my god if you look at small business people you know -- I'm involved with something called the job creators alliance and this is small business people.
And that's where I was many many years ago and I remember those days where we're pretty hard -- They are struggling today -- all the small business people I've talked to an America today.
70% of them think that Washington is actually anti business I happen agree with them.
They think -- too many regulations they think taxes.
-- less tax bill.
Coming out most of these people off the you know there are there of their subchapter -- they play ordinary income money taxes.
This is not gonna help create jobs how would -- to create jobs for the millions of people out there that needed.
They're that I really what a leader make of how Wall Street is doing what this and how companies are doing odd sort of Urals on the company founded I mean -- Home Depot is buybacks at any billion dollars -- its on site others are.
Are merging together rather -- to -- and a new businesses.
Others are taking results private but in other words most of the cases I just cited Bernie is you know far better than on.
Are they did not -- -- -- -- new businesses so much is trying to secure a nail down the wrong.
And I I I think that -- -- about their anxiety.
Over this recovery and it's tepid nature.
-- you know -- you just hit -- it they're not investing what they're nodded doing did not growing.
The way they normally would have grown hey listen.
Even big business is up space and I'm not speaking for Home Depot today because I'm not a I'm outside the company -- -- on the board -- not management so.
I I can only talk about people that I know outside of Home Depot.
This struggling with -- obamacare.
I mean I don't know how I would hate to be a CEO today I'm just think about.
We you have a thousand people working for you that you -- with insurance.
And you see insurance is going up twenty and 30% and by the way it will be going up -- 30% over the next period of time.
You're gonna have to double those people into obamacare and so they gonna go from a Cadillac service it to Medicare.
Which today is a very very bad.
You know that if you had I give you a perfect example Neil this is is actually happen of very different mind.
Who has a very serious back issue.
They're only maybe thirty people -- do the kind of operation she needs.
25 would not even talk to her because -- on Medicare and what do you think it's gonna happen to people out there this situation is desperate.
And so you're right deal.
Companies are not expanding.
When they are expanding by the way they are going to part time I -- promise you -- I've heard this across the board in the food industry and other industries.
They're hiring people 25 hours no -- -- passed when he five hours now how is that gonna help people.
Earn a living people can earn a living 125 hours.
-- what it's is a monopoly that actually adds itself Carol came in -- affect.
We have fewer people -- health insurance and or dead prior and that's you know that's -- yeah incredible irony you know.
I don't see I don't I look I don't look -- this way when I speak to people who are Democrats I spoke to one last night.
Who who's -- manufacturer.
You know and I asked him about this.
-- -- -- everything was over he said to be number one he thinks he made a mistake and number two.
He shipping jobs overseas wow -- Hattie -- figure that one.
So you know hypocritical on top of everything else it's it's not it's not good out there and the small business guys really getting -- I mean.
He's getting wrapped with that with that with taxes -- getting wrapped with the regulations.
You know this whole thing with the NLRB which I wrote an article on Wall Street Journal -- -- coming week.
Where you have three members that -- appointed in a recess what they say is a recess which courts that is not recess.
And now bid date they refuse to leave office and there's still this still doing to their thing is though nothing happen.
And so they've they've decide the hundred cases -- last year.
-- -- -- -- -- -- -- -- -- -- Did indicate billion aren't so if you're if you're guy they can't afford you know to pay a 100000 dollars for an attorney you're gonna get killed it it's not good.
It's not good Israeli good out there by the way.
Well if anything.
You you right now -- beautiful look where you know -- you know just to put this in perspective.
Couple of viewers knew we were gonna have you on tonight wanted to emailed me a lot -- -- Bernie Marcus on -- social Smart.
And sex.
That's all my god -- is sad and I get the saves.
But I mean but everybody -- there I don't know you'd have.
A -- it's always good have you Bernie and thank you for the -- -- -- our relative Bernie Marcus.
-- co-founder of Home Depot.
