WRKO>Audio & Video on Demand>>Full Show 11-10-17

Full Show 11-10-17

Nov 10, 2017|

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about an economic and market trends plus get breaking business news and every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Right here on the financial exchange Gerry Armstrong out for the date Chuck Todd and John Moody here and Dave for veterans day. We are participating in the WRKO radio Thon. To benefit the Disabled American Veterans it's going to be something that we're doing all day today we're gonna have a couple guests on including. The president and CEO of the Disabled American Veterans stand. Dance stack it's going to be joining us and just a little bit to talk about the work that they do. Four disabled veterans. If you are interest in participating in this fund raiser they're number of different ways that you can participate you can call at 617. 3854929. Again that number. If you wanna donate to Disabled American Veterans is 617. 3854929. You can text DN AV. 80077. And if you wanna go online you go to wrko.com. Slash radio on. And you can donate online there for Disabled American Veterans this going to be going on all day. And again we do have a couple guests lined up there will be talking to a little bit later on in the show once again if you do one call that number it's 617385. 4929. John we've we've got a full show even even without this up radio Thon that we're doing we've got a full show lined up here and so let's let's talk a little bit about. Tax particularly do little spinach Versa. What are we gonna do a little spinach first year chuck is the consumer sentiment just broke. Oca was that you know ridiculous highs of an estimate of a hundred point nine came in Italy 97 point eight. A good number but it disappointment peso was expected in the stock market's pretty weak is the Dow's down about 61 points. NASDAQ down another fifteen to there's a lot of anxiety. In mostly large part because what you wanna talk about how how much do you while looked at that consumer sentiment number how much how important do you think that number tends to be. I don't think it's a leading indicator right do you think it's an indication of how people feeling right now at this moment and it's a very good sign that the number is this although a little bit off expectations. Going into the all important you know holiday shopping season because between now. In the end the year is when a large percent of the total sales volume for the struggling retailers will be incurred so it's important that it be high now. But it doesn't mean much about the future meantime people feeling right now they're feeling pretty good right now so that's that's the good news. Well looking at the big news from yesterday we saw the market's not down across the board Dow S&P and NASDAQ all in negative territory. In the big news that we saw yesterday was the senate unveiling their tax plan. And so obviously we got the Republican plan a little more a week ago now we have time to digest that and go through some of the details there and the senate coming out with bears. And let's look at some of the key differences let's let's start at the top just with. Tax brackets yet let's talk first though about why the stock market that scared thank you can just be scared. That is probably very little to do with a lot of the numbers relegated to hear what has to do with is the fact. That the the corporate rate which was expected to go right to 20% starting January 1 of 2018. The senate is proposing that they don't leave that for another year why. Because that because of the revenue. Because they don't order to get that extra revenue yeah that one year they wanted delayed implementation until 2019 they wanted to put numbers next year will better connect east in two. The loss of revenues that is going to be incurred so that's the thinking. And the knee jerk reaction was oh this is not good because a lot of our numbers here are based on an extra. 010 dollars of S&P earnings from lower taxes right. Let me take the other side that the chuck and that is that you know when you buy a stock or ATF or mutual fund you're buying a lifetime of revenues and income. This is gonna effect one year 2018. In the good news about this is the senate proposal as what was the house call for a permanent 20% rate. So it's not the 25 that we heard murmur about stuff the 23 her to rebut. And it's not a ten year plan that would goal in ten years it is a permanent rate so. If this becomes law I would argue it's probably foolish thing in the meantime there's a lot of concern about the fact that looks like the big thing for the stock market. It's gonna get a 121 way. Beyond that let's talk about just on the personal side we the corporate side it seems like aside from the one year delay. There's a lot of alignment there's some differences around the edges as far as. Schism some different provisions and so forth for pass throughs and and things like that it will get into on the individual side one of the major differences. The senate tax plan. Doesn't streamline the rates the same way at the house plan yet and I don't like I don't either. I I love the fact that the house plan. Extended some of the lower brackets that 12% and 25%. Tens of thousands of dollars for either. And I would argue this chuck. I think this is one of those rare cases were low were rates equal higher revenue think about how many people over the age of 59 and a half. Take out of their irony. Enough money to take me to the end of that bracket. Those people who were trying to take all the 25% money they can write me taking. Tens of thousands of dollars in additional money out calm down voluntarily. This will be posit the treasuries a great deal for the middle class particularly middle class retirees with some money. So that's a big difference you go from four brackets in the house. To seven in the senate that's awfully close to where we are right now this senate plan is evolution at best certainly not rough. We play and continuing on along those lines the estate tax in the house bill. Expands the amount that exempted doubles initially and then repeals the estate tax completely and twenty point four. The senate bill never repeals the estate tax completely okay to that. It it does double the exemption effectively but then keep that in place at eleven million dollars per person per person yeah with the Sony Sony Vega took 2.2 million for a family so look it if anyone tries to argue that small family farms are gonna be hurt by that. That is state tax remaining in place. You're simply not being realistic okay there are no small family forms were 22 million dollars okay that is a large Fam and if you have a 25 million dollar form. You do have issues there's no question about the tax credits I take their politics like that but outside of people the success of numbers of mixed. This only affects really dumb rich people who were too cheap to hire them I mean that the program and that's the important thing to remember. A couple of interesting things about destructive talk about the sport yeah I would not apple called this last week the house plan this medical expense deduction we knew that wasn't in the last five minutes and appliances look at keeping this we're not getting rid of the ability to deduct medical expenses is all that happens is all the people who were sixty in seven years old port taking that. Are gonna say. It doesn't work or 94 right in the health care or even think about the people when when you can't. For the first capital city at all these medical expenses that one year is there's a geely second doctors. If you can't in the future all of us and it's another disincentive to having kids there refused for ways here chip the people. Call we're like OK don't even try to make that negotiating point we know you're not serious I mean. I'm up noses were growing what we saw that as a as a point of consideration that the coaches for the past that it's a big deal. It is cannot get a key government but this this a number here that they're talking about the status in the numbers around a lot less favorable for pastors because. The reaction that chuck is. Everybody was saying well now everybody's become a pastor chuck not a LLC let's put a sign me up let's get this thing going. That's this I think we're in a lot of gaming of the system had house plan them through as bulls one of the things that I've found interesting about this and it built and I was not expecting. House bill on the state and local tax deduction preserve the ability to deduct property taxes 101000. This and it would be more lenient on the side this gets rolled rid of the state local tax deduction complete. In that surprised me. That did surprise me and I I think that's the case word house. I would match I would have matched. On other things that we see here. The child tax credit in the senate bill as is fifty dollars higher at 16150. Saying yeah much the same not a huge difference there. The senate bill still allows student loan interest to be deducted. Okay that's big difference for a young folks in their twenties and third another one that we call salaries at all lately now house can try to do in this forget it they're not an interest. In that she really think that they're gonna get in negotiations that it. Anderson will go. All if you Google was to keep the medical deduction if you allow us to keep the dust right loan production will keep you despite. What body that was silly proposal that was going nowhere deal here's the question I'm asking the people should be asking after seeing this. After seeing these two bills one in the house and one in the sent you feel more or less optimistic about this getting on the news two weeks. Rescue me I'm asking you. I feel slightly more optimistic I it is I think the frameworks are close enough okay. Where there's some work to be done around the edges but I think this compromise that can be reached I. Agree that it I think what the stock market is looking at right now. Is I think they were really excited about this 20% corporate tax rate going into effect Jan 12000 you don't. Now the stock market is collectively digesting sang. I don't know any and then they look at trumps popularity numbers which are an all time historic low which is a by the way a big factor right in this end game. And they're worried about what's going to happen if anything now sorry thing is going to happen. But if the market can come around to start saying you know what we think this 20% permanent tax rate on the corporate side. Is a done deal but effective not until January 12019. When it comes round to that after the series indigestion yeah I think it's it's it's very very positive. It and do agree. We are gonna take a quick break when we come back Lydia Ramsey for business insider's gonna join us. Talking about the threat of Amazon in the health care industry that's coming up after this break. Once again if you do wanna participate in the WRKO radio the radio Thon to benefit the Disabled American Veterans you can call 617. 385. 4929. Or go on the wrko.com. Slash radio on in will be back right here from the financial exchange radio network. Without health care or tax reform all three major indices remain near record highs to get the latest info on the sectors that are winning and those that aren't. Break here we Berrian jog on the financial exchange radio network. There are many benefits to early estate planning among them -- your assets out of probate and protecting them from the nursing home but did you know but you also might be able to eliminate your estate taxes every week on the legal exchange -- -- educates his listeners by telling them how to protect their assets last year is an expert in elder -- taxation and the partner with Cushing and Dolan is a brand new guy doubles show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes let's -- leads an experienced team at -- and -- which has been helping families like -- with their state claiming for more than thirty years call right now to get -- new guide called asset protection strategies at 86684856998668485699. -- -- -- team at -- in -- help your family the way they've helped so many others -- 668485699. Or you can download the guide right now from our website legal exchange showed dot com that's a legal exchange showed dot com. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank -- -- get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank stepping. Add member FDIC a minimum balance fees may reduce earnings rates subject to change without notice and may change after an account is opened. Hi everybody it's Barry Armstrong and Jake too early and were talking about a program called Z rent. Now this is specifically. Designed. For those of you who wore landlords in used to collector checks. With paper checks are gosh maybe still do will zero rent allows you to collect checks. Electronically. Jail is hoping he could spend. Little bit time explaining how he grip works and why it's a big advantage for landlords. Absolutely bury so we we develops you ran you out of me the whole race yet because right now. You know with the landlord when you're getting range. Low unpredictable. 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Available on both your phone and tablet just search the financial exchange you can hear individual segments. Four full shows if you can't listen live we've got it covered on the I heart radio. Joining us on the line though is Lydia Ramsey from business insider here to talk a little bit about Amazon's ambitions in health care Lydia thank you for joining us. What are you looking at what but it was on trying to do here and we'll begin to that a little bit. It obviously has health care companies a little bit spooked and so I wonder if you can go into you know some of the things that companies are starting to do in that space to prepare for Amazon possibly entering. Sorry that it didn't impact we in any at no might about. It's again Amazon meat meat packing it up and maybe a couple of months ago are around and that calls its an app. They're in the packed and it made picked on at our companies and from our part there I intend not just the drugmaker. Well Palin. Debating tax department these. It went about and here on the and it and it active element that issue it is Adam or are description dragged. They bombing at about how big my. React to it it's am somewhere in America exit and everything I am. The logic error report that the the big. Reported deal between India and our men what happened there it is probably coming as part I am on. Barack. Extra high wasted and make them out. At right on track and it. It and all and just thinking am I ducked and against my kid and it kicked our electric. Let's let's go through some of these different pieces here let's start first with drug makers what specifically if they've been doing to try to prepare for the centrists. Sure I think out of the group I'm with an opt it and can make your partner. Do you keep my patent it sounds like they're they're pretty added to eke out. 8 am bound up in this state and again we are wondering now whether or not. On. I hit it again that they encourage that parking lot with Amazon and every attempt to. Create an attic and distribution channel that it from what I've been eating. Not yet excited and yet about exactly how. Arm and a and a common mistake I am back and he and other he can't write it write it and I think there at that but the in pretty. Pretty excited. If Amazon does pursue this this avenue. The most substantial brick and mortar presence that loves and everything by that overnight delivery but I wouldn't you think this requires some acquisitions. I don't pharmacies clinics some combination of both. I like actually out and African art aspect you can add a lot of that contract it are. Me at their both their male harder but. Insurance companies are what the Mallard and that they need that and it kind of a martyr vacation would they might need to acquire what I expect is. Added a group of their content and architecture and that should be. It organization. They capped at a higher I would try to be able to talk with army he's in the doctor about that. Can it. In those app section. You know if they are I wonder something like a right hater comparable that has already owns like a pharmacy benefit manager Ian has bricks and mortar. If you know some company like that. Might be an interstate acquisition for them. Possible light yet as an example of an organization has that RE and I edit the manager. There are under their excellent and and it is bad yet it really depends on how that attack I am not out yet. Panic the act cashed it met me at the UN Egypt incher and it diet restrictions on Amazon I am yeah. In terms of any timing for Amazon getting into these businesses have they given any losers it's still some up in the air as far as their actual execution here. Sure I think attacked India is according match in my you know by giving again and he can you are am about that you're not wearing it or not day. We did the entire income. Blank bit added and date herb or subtract mr. reached the bank. Take it big black that there like that the I out and that the need. You match is it is and it it in the that the umpire Gary are at the Italy that app hopefully amount in narrative that. The secret had a match. Yes CBS and assess the NBC has reported that the position will come down. By Thanksgiving which they were in the placed it there for CVS Walgreens but that's a whole separate issue that looked at. Erica we'll video we appreciate it join us today thank you very much of the time. And that is Lydia Ramsey from business insider talking about Amazon getting into. The healthcare sector and really what it means for the companies in the different parts of that sector. And John there's no doubt it's. Amazon is always a disruptive pressed Amazon doesn't enter industry. Unless they feel that they can transform. And so it's it's going to have an impact one way or another the only question really is how do you prevent Euro company from getting you know not out ending up in the rectory. That's the problem and that there are a lot of complicating factors and health care that Amazon needs to be considered that's why they've been very slow in coming up with a decision on this because gavel pharmacy benefit manager issue. The issues to what extent to be bricks and mortar and yet you you'd love to be able to everything that's like an online pharmacy but the fact of the matter is you duty to have interaction with human beings in many cases. And what about the extent to which you know eighty to leverage a clinic you wanna give him the clinic does this edit in sort of pseudo primary care. These are all being the key issues and it'll be fascinating to see what they decided in what direction they go we're gonna go the next cup. Weeks absolutely certainly will folks I do wanna turn your attention to us something that we are doing today. To attempt on our veterans we are participating in the WRKO radio Thon to benefit the Disabled American Veterans and you know this is something that every one of us regardless of who you are. You owe something to these folks who in many cases put their lives on hold not us per couple years but bird you know decades in some situations. And in came back. You know with with issues as a result of their service and so. To participate in this radio on their number of different ways that you can do. You wanna call call 617385. 4929. To make a donation you what do by text you can text DAV. 80077. Or if you wanna go on line if you sit in front of the computer right now and say gee I wanna make a donation to. Disabled American Veterans go to wrko.com. Slash radio -- again all the money here goes to benefit Disabled American Veterans once again that number. If you want to call 617. 385. 49290s. The people that protect you and Iowa were home their overseas away from their families risking their lives. And this is something that everyone of us should be participating and again that number 617. 385. 4929. To make a donation Disabled American Veterans. We'll be right back after this break you're listening to the financial exchange right here on the financial exchange radio them. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. 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Subject to credit approval. Leader bank a step ahead there are many benefits to early estate planning among them keeping your assets out of probate and protecting them from the nursing home. But did you know but you also might be able to eliminate your estate taxes every week on the legal exchange time musty educates his listeners by telling them how to protect their assets plus. 8668485699. That's 8668485699. -- -- -- team at Cushing in -- help your family the way they've helped so many others call 8668485699. Or you can download the guide right now from our website legal exchange showed dot com that's a legal exchange showed John -- If you're real estate or property management company -- -- -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and it's -- to see rent payment platform -- bank has a team of business bankers that are on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies -- leader bank as their banking partner call 8776917. -- 900 or email BB -- -- -- -- dot com for more information member FDIC equal housing -- Time now for Wall Street watch a look at the market's performance so far today but I don't Berrian jug right here on the financial exchange radio network. Quick market update just look at some of the biggest movers today roku continues to move upwards after reporting earnings yesterday now eleven and half percent today. They continue to move in a positive direction. A rare bright spot for JC Penney up fourteen and a half percent after reporting earnings this morning with a bit better than expected in same store sales growth for the first time. In nearly two years. I do wanna re direct our attention back to. The fundraisers that were doing today and you know this is one of I think the most important things that we do each year. And were participating in the WRKO radio Thon to benefit Disabled American Veterans and their number of ways that you can participate you can call 617. 3854929. You can go to wrko.com. Slash radio Thon. Both of those ways or ways you can help to contribute but right now we're joined. By a couple veterans here to walk talk with a bit about what we're doing in and really you know who were trying to help. And so I wanna welcome on radio Coakley had a and Dan lagoon thank you both for coming on. Yeah and in obviously look first it thank you so much for your service it's obviously something that. You know I think most days most Americans don't think about they're here they're going on with their days they do whatever it is they do. But today we have an opportunity to help you know folks who. Did volunteer in India gave up portions of their lives to go make sure the world saviors solar radar wanna start with you. You talk a little bit you know kind of about your story. Ink ink on your path to be here right now. I'm sure I was I enlisted active duty in January 2000. I was. Overseas are shocked and on our missile attack America was in country for all that. I was stationed at Angelique air base in Turkey I was doing flight runs and not a blogger and Afghanistan. I suffered in 2004. I came home I got hired as correctional officer and I didn't I was a prison guard for six years. And then I have since left there on the firefighter took it around now. Where my story change though is when I was working in corrections I have made a friend who happens to me my DAV rep now even this time. We worked in the prison system together we both left around the same time he came here I want to fire department. He would just just for the sake I had a couple of back surgeries when I got home so I was already rated. Hearing issues the basic stuff but. I don't want in our story but the the the the main point of the eap is that they provide you with the kind of support. That you have to have because when you get out when you separate there is no good bye there is no severance package there is no. Any other state they send you home they cut you loose if you don't to a career that's it go home that thank you but you're you're done. One of one of the things that I've heard a Laredo from folks who have served and then moved on afterwards is one of the toughest things is when you are in the armed forces. You have this group around you it's almost like a family at all times and you have this organization and as this common mission and that and that's always supporting you. And one of the most difficult things trying to find that in civilian life does does the navy helped to kind of get you on your feet from now perspective to just bring India. In contact with people who are similar. It does it doesn't affect you you meet a lot of new people on and I met a bunch of new people today that are of their own stories we all got here a different way. But on. This group provides you. A dog in the fight with the PX because they're not gonna come to you the VA is anecdotal approach you. And say hey we know you just got out we know we were you this this this and this this is this is no word isn't yet you have to have your unique values it. You have to have an advocate and that's what the do you view is state. They do the legal work they do the paperwork they do phone calls they. Stay on top of all that you need to sign something feels something now he'll get that in Europe and get it back to them they process everything you don't have to deal. With that frustration anymore they take that around for you know and Nam. You can't ask for any better assistance than that. Just can't. No to it now Dan you or the executive director of the Massachusetts fallen heroes memorial fund can you talk a little bit about the work that you do. With that organization what it is that you're trying to accomplish it you know as part of it. Yeah absolutely and literature there from amen and welcome home. You know I am fortunate to be your turn to animals or pro life number he's in. Everything you just heard. You know that's the importance of inquiry and the abilities do things we can't light today because. You know this organization's. Testament that. And a lot of our members a lot of you know our executive order her committees and all the people that start this heat team members get so you cause is as much were not nonprofit that separate. From the DAV you know or can just as close as we can't with a DV. Support these incredible programs that you are fellow Brothers since it's the same opportunity that you know we had we came home. Q can you talk about some of the experience that either you've seen or that you've seen you know for people been helped by the DA via air in the things that it helps to. Kind of just get people back to normal early some semblance of normalcy back in civilian wise I think that's who you just. The new home having to transition and in the difficulties that we have tomorrow and Alter and one back into some world. It we're viewed by the general public you know campus and around the world and sent this country think that were broken people you know we serve the country thanks these service bought. It was always bought an end and that's right what's on us as veterans to that that dark corner. Actually puts us into the dock when asked well. On the TV steps in and gives you that well obviously guiding you through the process of getting the right health care. More importantly you know there are also advocating for your for your well being you know employment in an issues that we do face it it is what most people's day. If you're broken we don't agent that he AD users and now you know broken you're actually better than the average Joseph Harris Heidi and get through. And we have seen that we've seen you know. It's not what's in civil service you talk about you know men and women who are joining the public sector when he public service. There are broken through the right employees that this country acts. Well and and you think about just from an organizational perspective you know being able just do what ever is necessary on your missions to be able. To serve this country and make sure that all of us back here who didn't serve that we are safe and that we are protected it's something that I don't think most. People in my position can can truly conceptualize no we did not put our lives on hold. For 13510. Years we don't understand. And that's our issue you know you look at you know almost seventy years old war since 9/11 you know yeah yeah that word disability. Came out last week and wearing. You know your broken you know did announce complete opposite. You know this is this this country was built by my war heroes it was followed by the war heroes and it's gonna continue to be built. And our futures and drive off the men and women who served in and he's complex TVs right there. As it has banned at all since its inception. To continue to make sure that that veterans that are take care. No we thank you both for your service and and certainly we want to do our part to help to make sure that our vets are taken care of when they do come back. And folks if you are interested in participating in the WRKO radio Thon to benefit. The DAV. Its very easy it's very simple to do all you have to do is call 617385. We're nine tuna again that number 617385. Were 929 you don't wanna use the phone that's no problem you can text text TVE. 0077. Ortiz and it was not a computer right now and say gee you know this is the time for me to make a difference and and do something good for our veterans. Go to WRK dot com slash radio and you can make a donation on the lines of old. Text or on line all three of those options are available to you. Once again in raid were really appreciate you joining us to answer. Take a break when we come back we are going to be joined by air Los interpreters and BC talked about. The dual tax plans from the house and senate where here on the financial exchange radio. Or trumps administration hasn't passed any significant legislation yet but tax reform is front and center it past me in here. Keep it here with Barry in charge for the latest on the president's agenda and how the markets are reacting and this is the financial exchange radio that. Work hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new -- savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available on line so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Are you financial advisor who lacks formal succession plan you're not alone according to investment news 43% to financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor -- -- advisor is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which they have become accustomed if you're interested in talking with us please call me at 803934. Zeros or one that's 803934001. Or visit us online at Armstrong advisory group. Dot cup securities are for two securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Hi everybody it's very Armstrong and potluck ski from the law firm crushing in dole and were talking today. About this state and asset protection strategies. That can help reduce or eliminate your state taxes. Tut is it true that a married couple living in new wing and with two million dollars and assets pays a voluntary. Gift tax. A 100000. Dollars in the government if they don't have trust in place I'd certainly can't be certainly depends on what state and to be you know I'll let us say only if if if you if you have assets and you can't each state has their own exemption. And you know like the federal exemption amount is 5490000. Dollars you can pass that amount. State tax free to anybody you want. In any state. But and a lot of people say oh we have that kind of you know but. What you forget about is the states. A state tax system they have their own system. And each state has their own exemption. Which can range from you know a million dollars to 201000005. Is around here 2.5 million you know and then some states don't have any. State tax the only one in New England doesn't have one news New Hampshire that's correct New Hampshire the only one in the in New England that doesn't have a separate state the state tax. And so the goal is by doing basic estate planning and using trusts you can double whatever that's data exemption amount is thereby hopefully eliminating. Voluntary estate taxes. Up to whatever that exemption amount is double. Request your copy of pods brand new guide it's called reducing and eliminating the state taxes. You can call and receive the guide the poll number 8668485699. Or visit his website it legal exchange showed dot com net. Legal exchange showed dot com or call tool free. 8668485699. The financial exchange with Berrian chuck is alive on FaceBook and YouTube every morning beginning at ten. This is the financial exchange radio network. Joining us now on the line is senior contributors CNBC Larry Kudlow. And Larry we get talked deal last week about the house roll out of their plants day we get talked about the senate plan uninterested in your first impressions of the senate plan compared to the house. Well it's Tuesday. My biggest beef. Is postponing the corporate rate cuts to planning ninety I think that's. Kind of a gimmick they think they're gonna save money by doing it I don't think they well. The cause but there's going to be a lot of that tech support and while mighty from our shores not gonna come home. They don't wanna play with the higher rate they'll wait until the rate drops in toward in nineteen if it does and I think that I'll wind up losing money on now. That it is an embarrassment. Expense and will be immediate. 28 and that's good that's great. But I I think they should bring forward and no gimmicks no basis. Just get the corporate rate down and out as a better handle on that. Then about it. I don't stuff. Is that those pretty good I mean. Here's a tiny ray production through the upper end. I don't know what the brackets are gonna look like I don't think they're released media income threshold brackets so that the C a but the house is pretty good on that. They want an end assault these state local tax deduction. Surprise you a little bit. No because I had been down there. I spoke to Republican senate wreck. Tuesday it's Tuesday morning I'd I'd heard. I knew that was cup. That can be taught and I have to resolve that. In the conference. And it looks better for small bit I'm not entirely sure of the details. But it seemed like. The pass throughs are gonna get a better deal. Under the that'd be over an hour ago. I don't know that people don't but it kind of looks that way out those pre disappointing an awfully complex. So you know there's that. I suppose I'll let you know that it's too bad. That they looked so far apart because. That means a conference right you gotta yup this is the chairman mark yesterday. Then it got to go into full committee and add the Republican bill. And then they go to the floor that is edit and then make go into conflict. Now the floor vote. Maybe top all right still think they're gonna get a couple Democrats understand. It's gonna take longer. And I'd have these you know edit reimburses. The track called vacations just drive me crazy and it really think it would be there every single day. Have their Turkey you know in Washington the American side and just just don't leave it okay because this is only a problem and I tea. Politically. They don't get this done. All held a break. You know after the digit elections so forth is not good so they have got to get this done. Larry I. This is John the question I I I know what you're talking about here in terms of 20% corporate tax rate the concern about that being delayed a year that clearly is real reform the corporate side. The feeling I get it tell me if you agree this is the senate bill from the personal side. Feels like war but cut and reform sounded so yes seven brackets that Larry that's not the direction I thought we had. Well. No it doesn't really simple by the brackets. But it does. It actually has lower rates. Schedule that that house bill. But again I don't know what the income threshold are going to be for the brackets so that's going to be very important. But. I think there's a lot of will and determination to get this done that's what I. Learn when I was down there earlier this week and ability you know and found that there's similar. But they're gonna have to work out the differences like you mentioned tax reform. This that it wants set to repeal the gun assault and it's been party yeah where's the house I think is more pragmatic. Where they owe it to keep the property tax deduction at least up to 101000 dollars. They did that obvious because they don't or lose every Republican House seat in new York and New Jersey in our budget Bayreuth district of California also. So there's a disagreement there there's a lot of our agreements. And I I think this is doable I think is very much program. Just take at this giving them of the 290 corporate actually you know what any stated he. They've been postponed economic activity. That's bad and statins also encourage tax avoidance and shelter and that's there. But these it should be resolved so I'm gonna still play this and they optimistic side. Where I tend to come out of from the same side that beat these two bills while they do have differences. I think there's there's a middle ground the can be found I tend to think it might take a little longer though nom kind of saying hey it might not the end of the year might be January or February. We have been campaign. I mean maybe right I hope not but I guess what I if they don't get it done. By the end of the year that overall people will be talking about. And and terms it is good looks and that's what everyone's going to be talking about and it'll make them look bad and it loose credibility they cannot afford to push it into next year pages cannot. And I think he business the business community want this stuff but death. Otherwise they're not gonna pull the trigger. All of the capex investments for example that's good that's immediate start up to 28 feet but I just don't think pitcher there's going to be pulled is that they've not done. And that that means the whole economic growth process. Which should come this may not come she thought I mean it's big you know don't wait just get it done stay at Washington. Larry Kudlow a and to agree thank you for you put it pretty simply there and I tend to agree that thank you very much Larry. That is Larry Kudlow senior contributor to CNBC. And I hope they get something done before the end the odd it. It because there's a lot of that stuff as Larry said but the one thing that we know is simple bills is immediate expensing. On the corporate side justices is obviously unhappiness that if the way to 2019. The lower rates that expense. Very nice boost to GDP. We hear that term an awful lot what does that mean for an actual business like. Which electric capital investment. Instead it you know get him the tax benefit over a number of years you get all your ones instead of having to depreciate over five and seven years want you to you take it right there are still allow us to get that impact right away and here's the thing even if we have to wait for your 20% cut corporate rate. We have 2008 get that immediate expensing eureka nice boost from. Still he's get back capex happening in year one saying look we can do this now because that'll bring down our tax burden in this year we don't have to pay the higher corporate rate and then. In 2019 Elvis and that Horry takes effect and we party got a growth engine. And Larry's right about the fact that it's disappointing but markets will look past the valley of that twelve months ahead of the fact that 20% rates coming to. Very good. Quick message on behalf of leader bank if you are in the market for small business loan. You need to call your bank if you're small business looking to expander Kruger infrastructure. Email leader bank at BBO at leader bank dot com. Leader bank is a preferred lender of the SBA maintaining a diverse suite of SBA loan products that are designed to help businesses grow. Take advantage of leaders expert local decision making which along with a streamlined process enables fast turnaround. All the information you need. Is available by emailing leader bank at BB EO. At leader bank dot com that's BP EO. Leader bank dot com or you can call them. At 877. 691790. Easier that's 8776917900. Lead a bank is here to help you grow your business so email or call right now. And utilized the SBA low loan program. Leader bank member FDIC. Can. One thing that they are at stake on two stinky dismissed both to lower pastor disappointed house version and liking the senate version I think that back because I think what he was referencing is the complexity of the house version which said the lord has raised for some small business is not all and just how would you know address that because the great. This offered. On the will last through the house Burge. Was 25% cap as I recall and that is more for even though I believe didn't say that it wouldn't be available for service oriented businesses or something like get it they didn't define how I was gonna most had all been. And so I had confusing and I know when we talk to Larry last week he said look. Just make it one at what rate not based on industry just keeps its one rate and I agree that what have you enforced that which is gonna cost to figure out you know what business. Qualifies. Edwards won dozens of that is out of time that we have for this hour of the financial exchange once again if you wanna donate to the DAV for veterans day call 617385. 49 29 you can listen the financial exchange rate here on the financial exchange radio network. Are you financial advisor who lacks the formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age 55 and many had no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the arms drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both our ace and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which -- become accustomed if you're interested in talking with us please call me at 803934001. That's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated members and SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917. To 900 that's 8776917900. Workers at leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank their Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender stimulus number 449250. Subject to credit approval leader bank a step ahead there are many benefits to early estate planning among them keeping your assets out of probate and protecting them from the nursing home. But did you know but you also might be able to eliminate your estate taxes every week on the legal exchange tough months do you educate his listeners by telling them how to protect their assets last year is an expert in elder Lun taxation and a partner with Cushing and Dolan is a brand new guy doubles show you how to increase your beneficiaries inheritance by decreasing your state taxes and in some cases eliminate those taxes let's give leads an experienced team at Cushing and Dolan which has been helping families like yours with their state planning for more than thirty years call right now did get time to new guide called asset protection strategies at 8668485699. That's 8668485699. Let time the team at Cushing in Dolan help your family the way they've helped so many others Khalid 668485699. 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A step ahead -- seventeen has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful of a correction I want you to be ready for one -- this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. That's 803934001. Take the necessary steps to protect your interest regardless of market performance call my office right now and get your free guide seven signs a stock market correction at 803934001. You work hard to build a strong portfolio let's work to keep it -- 803934001. We can download got right now Armstrong advisory group dot. Come securities -- for -- securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated your dream home is within reach with a Jumbo mortgage a loan from leader bank the Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice that don't delay logon to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. And yeah. This is the financial exchange with Barry Armstrong and shut sun out. You're exclusive look at business and financial news affecting your day your city your world. Stay info. In the end up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck saga. And one of those days where. The primary purpose this show isn't just to inform me about what's going on in the financial world but we have a bigger purpose today and that purpose is helping out some of our veterans. Who go overseas to take years away from their lives years away from their families in order. To keep us they've and they come back and they need our help to get back in two society it in acclimate back into civilian life and so today. We are participating in the WRKO radio Thon. To benefit the DAVs and trucks not in John Moody here and so far that we've raised a little over 33000 dollars for the DAV. Michael this hour's doubled. Sort and we're going to be ambitious with the we're gonna try to double that in this hour OK I've told to expect no less than 519. We need to double that amount in this hour and we need your help in order to do so. The way that you donate it's pretty straightforward and all this money goes to. Disabled veterans okay this all goes to. Disabled American Veterans and there's three different ways you can don't. You can call 6173854929. You can text the AV 80077. Or you can go online to wrko.com. Slash radio on either one of those ways anyone there was three ways. You can donate Disabled American Veterans once again we've raised about 33000 dollars so far. Let's try to double at this hour call 617385. 4929. Once again that 617. 3854929. You can text DAV. 80077. Or go to W mark Leo dot com slash radio double check and a little bit later. And get some updated figures here and you know it hit a challenge and radio chuck is to put a face to the stories here. Which you can't see these people I spent a lot of time actually before the show talking with several people including Steve Bonn talk about. We'll talk with the next half hour a here's a guy who served with a 101 airborne division. Was awarded a purple heart. You know put his life on the line literally on the front lines in Afghanistan. And you know he is paying for this for the rest of his life. And to see these stories you know first hand and I think as most impressive to me chuck is these people will feel like they're owed anything they feel like they did their job. And yet we actually think they did they are wrote some. Which is our politics it starts there it's time for us do our job and support them. Yeah that's that's what we have to do now you know I am not someone who served myself and it we always see about 1% of the US population. That ends up serving and so it's time to make sure. That we take care you know of these people when they come home because they need help and we need to make sure that they have the resources and the ability. To get back into civilian life and make sure that they can you know contribute the same one. It asked think they're not looking for handouts now they're looking for help. And a lot of them come back here a physically unable to do a lot of the work they were able to do that before they were hurt serving their country. And a lot of this money goes to pre training. All of these individuals to do some work they can be very successful at doing. It's an investment in great people who made me greats you know. Did give up a lot the supreme that you put their lives on hold they have you know says hey I'm gonna be spending you know years away from my family in order to make sure. That we are safe and this is an attempt to try to get them in the right direction to make the rest of their life happy and prosperous port just. Call 617. 385. 4929. Or you can text DEV. 80077. Or go one wrko.com. Slash radio on and we will once again keep updated. On the donations as they come in here. We do let's talk about earnings a little. OK and so it's deep into. The neediest earnings story from yesterday and that's coming from Disney OK and I was watching Disney stock as they reported in and then on their conference call. And the quarter isn't good especially on their cable networks via they're continuing to see hemorrhaging subscribers from ESPN in the in the light. Ed and this is the property. It was fascinating to watch what was happening and the after hours yesterday as Disney's stock was going lower lower into the double digits from triple digits. As we digest that the fact that a lot of problems that we thought exist we have the do exist ESPN continues to lose subscribers. By the hundreds of thousands. It's challenging at the networks. They there's so that they've been in a theme parks and only do so much in terms carried the ball for Disney. But then into the fall into a phone call the conference call. Bob Iger was talking but the fact that that streaming service which we heard their unveiling. He is going to in his words substantially. Under cut Netflix on price. I don't know why that will be a surprise because as you said chuck that is going to be a lot more stuff on Netflix there is gonna be on the quote this. He channels streaming so my question what would you count as a substantial undercutting of Netflix just for me the number that you gotta get to a few want to say they were substantially undercutting them. Is five dollars and are just a five point five yeah. A five or six bucks in. In that range you can't say. Oh Netflix the bases you know and were charging nine under eight like. You can't say were 20% GPU gotta say we are forty to 50% keep it here here's the bull net access. The moat they have is they are inexpensive. Substantially less expensive than inexpensive. May not be enough because right that that that the whole essence of Netflix is for you know ten bucks or so you can watch in the new one. Well if I cannot say for five bucks you can offer for preventing you want. It's ten bucks it. I clearly a hundred million subscribers can't be wrong and we don't get do I give up two thirds of what are watching to say myself five bucks a month Romo will be off. I think it's a surprise that Wall Street took that reaction like how badly do you need to see Star Wars. How badly needed affordable and beyond that to hear it here's the other question so Star Wars right now let's that you are the biggest Star Wars fan out yeah okay you say look at. I I need to have my Star Wars fix. If if Disney's gonna say look it's five bucks amounts of sixty bucks a year. Want you to go out and pay twenty dollars to buy the movie on dvd or on iTunes. It's perfectly logical sense but about what's happening bigger picture chart here is. We're seeing that. Netflix. Is not. The streaming solution exclusively as it had in the fairly recently no CBS has a package that's very attractive feel like sepia shadows. Disney has a packets is going to be very attractive like Disney shows I think the days of having that is streaming and this is the one thing I. The B. They're under attack from all the people who produce the content of their sort of cheat so here's here's the question that I come back to so the reason why people move to streaming to this point is because it's cheaper it's it's not a bad at it should not something that's. Inherently better it's it's cheaper. So all of a sudden but got Netflix at twelve dollars an epic CBS at five that I pick up Disney at five that I got an ESPN platform at twelve minute. In all of a sudden as an essay. GM back pain. 9000 bucks a month for all this stuff. You're not to have the same amount of content is right now ran for what you get on it in this is something that I've said all along the bundle. As much as. We we can argue and look it's fair argument that you know Verizon and Comcast and DirecTV you made us via pay too much over over the last forty years. The fact is the Obama gets you more continental price what did it but the presumption is that the content that you have. He's gonna he willingly provided. By the people who create that content to win the and control all the cards. To. What's happening here is you're gonna see it bluntly here and a fascinating comparison. You know it's all aggregators and travel packet killed. Orbitz Priceline and Expedia the stocks got crushed this week is guess what's happening. They sent people to Merriam decent people that hurts they sent people to Sheridan. Share marry hurts are all saying. Let's go direct its order book with us and you get benefit out of contact chuck NC chuck. We'll if you would upgraded room and 5000 bonus points if you bought. Pass or it's bypassed Priceline. By the way we have the room. They don't and this is the problem Netflix is gonna have twenty years from now. All that product is made by people who wanna get into their business I think the distribution thing which was proprietary means streaming five years ago. Is now. So here's the question that and that's why I think we're I think we're going the same place there where we are with travel right now. And when you get to the end of that cycle we will we get to the end of this transition from just this is there's been a three major transitions that we're gonna go through his bars you know of watching visual medias concern the first is you go from. Nothing over the year you've got that over the you know TV that'll certainly get over the years you've got four major networks in the fifties and sixties that you go from over the air cable. In the eighties okay we're now going from cable to streaming. How much different is streaming going to be able ten years. It's just more accessible. It's going to be ubiquitous in the sense that cost perspective so let's say that we are bypassed in the middle. Let's say that we are no longer saying hey look we're were paying Verizon for our package but instead we're just paying direct Disney were just paying direct to fox were just paying direct to CBS. Do consumers actually picked up that extra money in their pocket or. End up paying more in the in the companies become more profitable. Up I I think it's unknown whether that's what what's consumers in the long winter gonna pay more for the I agree if I work in cable TV a long long time ago when bundles were created. And the reason why we created and I was working at a company that's been since acquired five times in now's my Comcast we sat down exits are here that I don't. We sat down is in a room and said you know what consumers middle like the fact that we can deliver them for at that time like thirty bucks a month. A hundred channels 300 chin ups. And because we can get all these channels that cost us next enough to throw in there and you think about it helps out the little channel because they say look our rights fees one cents a month great now we've got thirty million subscribers that we would've had a today if you are a new niche content provider. Stop reading you what it is and I I think just. A third party is that monetize this this is going to be the 64000 dollar question. I knew we are at a bubble with travel when true blog Okajima and said. We will search all the search engines you say what we're gonna get to that point here with that with product on cable and satellite television. We certainly are wouldn't take a quick break once again if you do want to participate in the DAV radio the on call 617. 3854929. Or text DAV 80077. When we come back we're talking about the Sheba going through some tough times right now. Right here on the financial exchange radio network. Markets continue to fluctuate but we've got you covered get your daily update on what time and what's not from Mike Armstrong every morning at 1030 boldly on the financial exchange radio network. -- seventeen has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful correction I want you to be ready for one -- this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. That's 803934001. Take the necessary steps to protect your interest regardless of market performance call my office right now and get your free guide seven signs a stock market correction at 803934001. You work hard to build a strong portfolio that's worked to keep it -- 803934001. We can download got right now Armstrong advisory group dot. Tom securities are for the securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. And he spent the last thirty year forty years building your financial planning business. He worked hard and your clients rely on you but what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every -- about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are looking to build our business through acquisition we are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com security suffered securities America incorporated member and as a BC and advisory service is -- with the securities America advisors incorporated burials are represented on an advisor group in the securities America companies are. -- hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in -- savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice and don't delay log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage -- and no minimum balance and remember this product is only available -- -- so logon to -- -- dot com right now -- leader bank dot -- -- -- a step ahead. That's 8668485699. Let time the team at Cushing in Dolan help your family the way they've helped so many others Khalid 668485699. Or you can download the guide right now from our website legal exchange showed dot com that's legal exchange showed dot com. The financial exchanges live on FaceBook and YouTube watch Barry and chuck discuss the issues of the day and see which one smiles at the most. Days because the financial exchange radio network. All day here we have been participating in the WRKO radio Thon to benefit. The DAV if your interest did. In donating to help our disabled vets. Call 6173854929. What's in that 617385. 4929. Joining us now on the phone we have a special guest none other than our old Barry Armstrong. Very good here for a. Good morning and I'm sorry make it easier to honor our veterans that. I thought I would call in and make a donation on behalf of the show and I would incurred you know like I hope a lot of folks that are listening Wu do the same thing in and make a donation. Our pledge on the apple. You know all of us on that are involved with the planning to you know put 2000 dollars and inaugural that books that are you know drive Renault 128 era under on the group 95 go to new a vendor out in Springfield weight belt they'll they'll call out because he's there. Guys it is typing gal. It's served our country so water. And come back sometimes the group debilitating wounds and played it any incumbent. Upon all of the due date and situation. And and very we've participated in this event for the last several years now. And each year. We get to talk with different veterans who come back and and are helped by these programs and it's something that I always come back to where you know. I have never been someone who is served in this fashion and I and I've never been someone. Who was volunteered to take years of my life away from my family that is the potential for catastrophic in his injury but these people do. And and they do without asking anything in return and so yeah it we know that that the least that we can do. Is try to help them to come back and get back into a normal life when they come back here. Well they unity it is what we should do and it it's you know I think. The the armies in the military says what they can that really. We need the rest of us so these dollars and you know. On her in the week in pony up it's only two dollars and system has talked to somebody this morning sit well what the united unusual tyrant that that matter it is what twenty bucks it. And you know that helps and its. It's not so much the dollar amount that you donate getting the participation. And that's and urged people to consider you might think to yourself what G it would differences by fifteen or twenty bucks in the make while back the matter is this. Hundreds and thousands of our listeners. Come in and everybody throws in 2030 dollars and make it adds up former I mean if Euro will more well heeled. You know tax deductible deduction rate and tax preacher are pretty fiery now. So we you know you're not 45% tax bracket you are a thousand dollars a eight 88. That's really only costing 5600 dollars. I sure hope people participated. It's a great cause and I know you had an opportunity need to of these guys today in unity he concede that they appreciate hell. You know that the one thing is they don't take it for granted never grateful. Absolutely and very do want to thank you off for the generosity on behalf of the DAV. And we will see you back here on Monday. Great doctor and that's Barry Armstrong there again making 8000 dollar donation to the DA be on behalf of the show. Once again Asbury said does matter if you give five dollar does matter to give ten doesn't matter if I want to the point is to participate. And again these are people. Who put their lives on hold for you and trying to make sure that we don't have to. And they don't ask for anything in return so once again to donate to the DAV. All you have to do is call 617. 385. 4929. You know also text DAV. 8077. Once and it's 80077. If you wanted to buy text message text DAV. 80077. You can also go online to wrko.com. Slash radio Thon. Once again that is wrko.com. Slash radio Thon to donate to the DAV. In a but it addition to a Fran tool you'll love his story got it Steve bond. Who is an exceptional story coming up just a few minutes I consider him a friend already and we're gonna chat with him and just couple minutes right just few minutes yeah outstanding once again is it something again whether you can give five dollars and a hundred whatever it is it doesn't matter how big it is. It just matters that participate you know it's small point and Larry I know her. Gary talked about the tax benefit but. You know it is tax advantaged up until December 31 and beyond it's beyond that we don't go don't we still don't take that money are gonna get in January throat right now you might as well due out quite as well do it now. Let's take a quick look at markets judges before we do anything else here. Yesterday obviously we saw a broad based slide. In markets today. Little bit of a downward move to this point the Dow is off about fifty points right now the S and he is off about six the NASDAQ off about eleven at the moment and it's a soft it's resentment numbers still high but it was a considerably below was expected at 97 expect under. And still some anxiety about the tax plan uncertainties the world were John looking at where this market is right now I've been of the opinion that the last couple weeks. With the earnings that we've got to raise the war on the market to the point where. Valuations that we have they may not be justified but there's not as much risk is there was heading into the fall do you agree with that sentiment I agree with it panic on the side sideways for awhile yeah you know I remember. The great Peter Lynch once that you can correct everybody knows what an immediate 10% or 15% drop org there's another way to correct. That goes sideways for a long period of time if we go sideways the next year or so. That's like 10% correction in the market has increased by 910% a year. If it doesn't go anywhere for a year it's a de facto correct it and that's where the mark I'm self corrects when's the last time he saw. Quarter earnings this good. It's been real good for crisis. Remember we had 26% drop in stocks that do this was coming right at that markets know more than you do org where I do you look at it say to me. The market started rallying a year ago it's insignificant. But now we hear about all these great earnings now maybe the market is actually right more often it is the market is amazing future does matter and it as amazing vision. There's no question about that we're seeing that were seen a very strong economy right now by any barometer the question is how long does it stay that way and to what extent does interest rates play into. Impacting future growth that's what do people were bored right now we're gonna take a quick break right now we come back if we joined by Steve Bann talking about his experience. With the DAV. Right here on the financial exchange radio network. The financial exchanges of live on FaceBook so make sure to like your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense. Give leader banker called them learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader back a step ahead. -- seventeen has been a banner year for stocks but many airports still caution investors to prepare for a correction while some out there may be fearful of a correction I want you to be ready for one I this is Mike Armstrong and I've got a brand new guide out this month designed to help you prepare for a market correction to guide identifies seven core factors each of which you should pay attention to in order to protect your assets and maintain a successful investment strategy is guides available right now by calling 803934001. That's 803934001. Take the necessary steps to protect your interest regardless of market performance call my office right now and get your free guide seven signs a stock market correction at 803934001. You work hard to build a strong portfolio that's worked to keep it call 803934001. We can download got right now Armstrong advisory group dot. Tom securities are for two securities America incorporated member finreg SAP C and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated and he spent the last thirty year forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every -- about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we are looking to build our business through acquisition we are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients and all six New England states and -- offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com security suffered securities America incorporated member of an SIPC advisory service is offered securities America advisors incorporated burials are represented their arms or an advisory group in the securities America companies are. Unaffiliated this is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of rent decked with zero leader banks all mine rent collection tool zero automatically deducts tendons went and deposited into your account visit WWW duds he ran dot net to learn more would you rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or three coral landlords visit www. Z ram dot meant to learn more or call 7816 or 18691. Hi everybody it's very Armstrong and potluck ski from the law firm Cushing and dole and were talking today. About that state and asset protection strategies. That can help reduce or eliminate your state taxes. Tut is it true that a married couple living in new wing and with two million dollars in assets hazy voluntary. Gift tax. A 100000. Dollars in the government they don't have trusts in place I'd certainly can't be certainly depends on what state and to be you know I'll legacy jail if if if you if you have assets and you can't each state has their own exemption. You know like the federal exemption amount is 5490000. Dollars you can pass that amount. State tax free to anybody you'll. In any state. But a lot of people say oh we don't have that kind of you know but. What you forget about is the states. A state tax system they have their own system. And each state has their own exemption. Which can range from you know a million dollars to 201000005. Is around here 2.5 million you know and then some states don't have any. State tax the only one in New England doesn't have one news New Hampshire that's correct New Hampshire the only one in the in New England that doesn't have a separate state the state tax. And so the goal is by doing basic estate planning and using trusts you can double whatever that's data exemption amount is. Thereby hopefully eliminating. Voluntary estate taxes. Up to whatever that exemption amount is double. Request your copy of Todd brand new guide it's called reducing and eliminating the state taxes. You can call and receive the guide the poll number 8668485699. Or visit his website it legal exchange showed dot com net. Legal exchange showed dot com or call poll free. 8668485699. Markets are high it. But questions remain about whether or correction is coming. We've got you covered every day with what's not and what's not from Michael Armstrong mornings at 1030 only on the financial exchange radio network. I'd jump in charts not a fit WRKO radio Thon to benefit disabled Americans factors that DA the call and make a pledge to help out 6173854929. Again that. Number 6173854929. Or text that DAV 2800778. 007. Set to New York you know dot com radio phone for the online donation. To us right now is Steve Bowen. And what a great guy Steve Steve thanks to comply talk that your archer we have a chance to talk I just had a wonderful time taught you what you beautiful wife. About like what's going on a life right now but steeped so you'll know served with a 101. Airborne division. In Afghanistan. He was injured. Has been awarded a purple heart congratulations. It's well deserved amazing story. People what's your story tell us how he got hurt in Afghanistan you would literally on the front lines it's. Sort combat outposts. Was hit by a suicide bombers dump truck packed 2000 pounds of explosives. Towards Jim my appointment. The building was claps on the press spinal cord. My bladder rupture it did to reconstruct my bladder where contestants. Multiple lol Lamotte spinal surgeries. And I also got dinosaurs to at a rangers'. And it was tough going in the hospital Walter Reed for quite some time. You're able to read yes. And I should point out that this wasn't you more like some unlucky victim. You knew the danger you're in case you were on the front lines of the most dangerous part of the world. You do that this was not an extraordinarily unlikely. What happened to. Just serving for you know. We're on a twelve month deployment and just knowing that. Know when you join you know you're going to war especially when you join gang violence on war. But stick to the bigger picture you know there are suing news serving you don't worry about yourself. You were able to get your left and right and still look after you so you never worry about yourself few nutrients you looked after it was Geithner left it right. And it's it's a brotherhood camaraderie is very powerful thing. You've dealt with as you outline multiple. Horrible issues that you have to do it. What's been your biggest challenge adapting to society besides getting well. What's the. It's coming home I mean the do you see. After I got discharged com. They help me with benefits. Navigating the VA system and getting through all the red tape and there are definitely. Instrumental part of my recovery process. That you want a job training during veterans back to work specially with the high unemployment rate for veterans right now. And you know the GA of his mission is that you empower veterans to lead our quality lives with respect and dignity. And in my opinion they do just that and I've seen not just myself but I've seen him through other disabled veterans and content organization as well. I would think retraining is a big issue that you come back. Here's dearth limitations but there's so much you can do. And it's a matter of matching what you were able to do with what people potentially could do in a lot of that is training and education. Talk about what you've actually been doing to try to you know get back in in in it and yet Corey appointment. I went back to use much Lugo went two for Tuesday called. Jumps lower. Majors science. We could ever present here expect you know prosperous business there appears to. Mid terms 2008 to 22 money. Baltics is a dirty business. But you would be great. Unity I would vote for yeah. It but and as you point out the unemployment rate is disturbing yet. What is what is the unemployment rate you know when I first came out I believe it was. 8%. Post now. It's coming probably has dropped down I believe it's 4%. Room now so chopped older. Past few years which always wears. That your four hours ago now. It's on them. People need to know that that investment is actually paying off its making Daschle one of the question I had my wife raises is that you know. Disabled American Veterans is a great cause obviously test but there'll at a great causes. And not particularly good charities this is one. Where the dollar is being put to good work it's not only just a great cause. But it's an efficient investment. You you've sake it's really made a difference. Are definitely I mean it's. For veterans coming home and having all these organizations. That offer different. Job training more game back in the school reintegrating back to the college life with other veterans is most important because when you come out. You know you figured you get yours going back to school with. Teaching kids that really don't know anything about life. So being able to reintegrate into called life with other veterans. Makes a lot easier as they can you with like minded people who truly understand just you know things are going through. I mean you may have not have the same injuries but you've. Jump to the central. You know what their deal with the right you know the challenge one of the questions that iced Steve it relates to that end. You know we often talk about your workplace training and so with that sense of community that you lose when you are no longer serve because at every. Every veteran I've talked to says you know the bond you out there. You've all gone through the same training you all gone through the same things as you mentioned like you might not have the exact same experience but you have new commonalities between. You when your other veterans. How difficult is it to come to come back and not have that community around you. Yes it's very tough armies feel out of place for me personally speaking experience. Lot of my friends -- to hang out with. I never really felt that seem. Closest that I once had with them sore because if elected in Williams stand. A lot of special post next dress and don't know a lot of when we're fiscal mental pain. Traumatic brain injury. I didn't really feel like the they really understood like I was feeling when I came home and it's not therefore alcoholic I don't blame them for not understanding. But being with other people who. You know you've almost died with far shed blood sweat and tears with that is upon that you can't rate they've been in the. Waksal Russia and it's very hard for us to recently I mean we can theorize what we must be like but let's that was in the foxhole with you. We know. That which I to appoint one good note that lot of good things here at. You'd actually proposed your wife. At Fenway Park correct this and published it it's insidious and I'm like that guy let's hear you know I was a bill that. It boils like four months after I was also at all. It was after yeah moments ago in exile I don't know about this. Week we cross your fingers. Alia I. No RC talked about marriage prize by new issues Adam editors she schools and military force. So I had to throw first pitch. And she didn't know was it's Sony's. Secret balls after. Go big ego. At her as well. Steve we really appreciate it and obviously he has a great cause thanks to your good guy and we appreciate you joining us thanks all the donors responses in this five DOT's. House which. You or face of who benefits from this and we really appreciate you sharing your story thanks. That is. You Bonn and again if you want to participate in the WRKO radio Thon to benefit the DAV. He's had duke at all you have to do there's three different ways you can call 617385. 4929. Once again that 617. 3854929. You can text DAV. 80077. Or go online at wrko.com. Slash radiate does matter to give five dollars as a matter if ten. Get whatever you can't. Okay enough people do we will hit all of the goals for money we want to raise your once again the call 617385. 4929. Or go to wrko.com. Slash radio stuff. Let's take a quick break and when we come back we're gonna talk a little bit about Toshiba and a little bit about Hooper right here on the financial exchange radio network. The financial exchange with Barry and chuck is live on FaceBook and YouTube every morning beginning at ten days is the financial exchange radio network don't miss the party of the season it's the fifteenth annual Rodman celebration for kids and it takes place at the seaport world trade center on Saturday December 2 starting at 6 PM enjoyed tastings from seven via Boston's best chefs a Blue Man Group performance silent and live auctions followed by dancing with the world premiere -- funds raised support Greater Boston organizations that work to brighten the lives of at risk kids during the holiday season for tickets and more information go to run and for kids dot org that's Rodman for kids dot org. This is a special announcement for all landlords chasing down lead rent payments and making trips to the bank to deposit checks take a hassle out of round date with zero liter banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit WWW duds he -- dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free for all landlords visit WWW dug see rent dot -- to learn more or call 7816418691. Are you financial advisor who lacks a formal succession plan you're not alone according to investment news 43% to financial advisors are over the age 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both RI AA and transactional oriented firms with a solid stable of young advisors who will put your client's needs first and provide them with -- service and attention to which -- become accustomed if you're interested in talking with us please call me at 803934001. That's 803934. Zeros or one or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated members and SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking when he one point 15%. Annual percentage yield this is an online product only and there is no minimum balance required so log -- to leader bank dot com and sign up today this rate may change without notice and don't Dele logon to leader bank dot com get all the information about this great offer and sign up today before the rates change yet. Free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. Security suffered through securities America aimed at members finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. To vote on our daily poll question as financial extreme show dot com while you're there buyer of the media player and watch the show while you work. This case the financial exchange radio network. This segment of the financial exchanges brought to you violator bank. With leaders super rewards account. You earned it absurdly high interest rate dipped 1% cash back with debit purchases. And that extra 10% back when you use your card that featured businesses to qualify for these and other rewards. Hallway to bank 8776917900. That's 877691. 7900. Customer must meet eligibility requirements Jersey to receives who are wars. Contact leader bank for complete details member FDIC. John let's talk a little bit about Toshiba Toshiba. In a whole heap of trouble largely because of some some problems with their their nuclear unit Westinghouse. Looking to raise five point three billion dollars to stay for. Westinghouse electric. The original owners of some Boston radio car. That's been the exact. For many years get anywhere Westinghouse though has will be on the radio days and they filed for bankruptcy protection largely because of a failed construction plant I believe in Georgia and that where they've spent I think like. Eight billion dollars for something that doesn't work a nuke and it's a nuclear the nuclear plant it just like they've never been able to get open running as what they never radio station doesn't work it's a bit of a nuclear plant that does work causes some issues and what the very functioning properly. And a question about that's a that's part of prompt she does after she is for those not familiar is just that massive conglomerate a lot like him Mitsubishi. And Samsung. Are a little bit of everything in your life. Particularly if you live overseas. But they have an issue here with with this major financial hole. They're looking to sell their chip unit to Bain Capital Boston based game in capital and some other tech investors. A that include apple as well. But again this is because there's some issues Ian. Do you rate action move into race five point three billion dollars in the stock offering because. That deal that they have to sell the chip unit capital and others maybe. Turning our sites Hooper who were with a so I was a suppresses a surprising results and in the UK. Hooper had appealed. To an appeals tribunal. Effectively saying that's. They who was trying to say that their drivers were contractors but the appeals tribunal. Coming as saying no you have to give them employee rights such as paid vacations yet they reaffirmed the decision that Loper must give its drivers those employee rights. Paid vacations would be some of them. And this apparently was a surprise. Which I find surprising. Do you think this has any impact in the US on some of the pending litigation it's at dale a class action suits that you know we're trying to argue that. Drivers are pleased ran the contractors I don't think this ruling necessarily directly impacts that I think the bigger issue chuck is that I think we all mode deep down. That these are workers. You know are they formal employees we can have a debate but. It's a lot more like a cab driver to me and it looks like a lot more like a real business and real employees. There's going to be some middle ground here where I think bowl. Drivers. Ian their customers. And having playing this game by different rules it ultimately probably means higher costs higher costs was getting point eight point do you think this accelerates. The push for who perhaps self driving vehicles I think it's really. If you have to treat them as an Ortiz. It and that's the most expensive part of their business what they'd love to yup it left to make it 100% statement you know legal liability the last time I checked robots don't have a union. And we don't require vacation yeah I just. I agree obviously looper would love to do they gonna save a lot of money and if the knock me a lot of drivers and driver was vehicles. But there's a bigger issue is which is planned does this technology become mainstream and that's the big right shoot. The extent to which this drives that no pun intended. Yet to be seen we're going this direction the question is is it ten years is a fifty years or that somewhere between eight and and obviously this then represents a new challenge for new CEO bearcats shot he. Who's been on the job what about six months maybe a little less than 845. I guess is best advice to him with BP well behaved. Right that would be a way to start the could be an adult in the room let's be adults and that will put you at the top of the class. In a one of these companies including over just just. Absolutely. Other news on the the car side of things we've talked earlier. In the week about how the house tax bill removed the electric car tax credit. What's been the result of this in terms of what we're kind of push we're getting from lobbyists time. Because let's face it that tax credit the tax advantage is one of the primary reasons why many people. Do get these vehicles to 500 dollars that's a credit not a deduction. I mean we've talked very Armstrong about this before and the extent to which that plays a big factor. In determination what you can buy the vehicle. The one good story here though I think is that we're gradually ease. It's becoming economically more viable to the point were I think the technology is more affordable now than it was five years ago seven years ago. At some point here we meet and it becomes like hey guess what. At a certain point you don't tax credit the benefit is you don't meet gaps. Like allegedly that's the benefit. And they're if you're gonna pay 3000 dollars more 4000 dollars more you recoup that two years. So at some point of economics actually two workers favored the problem is it's become so expensive particularly the batteries. That they need at this tax credit so maybe we're at a point here where it's still haven't had that battery for no and that's the next big thing. Folks. As you know all day we have been participating in the WRKO radio on. To benefit the DAV and this is something that we are doing an honor veterans day. In order to you know help all the people who volunteered to serve when when we did not and so. This is something that it doesn't matter if you contribute five dollars to it doesn't matter to contribute ten if you can attribute more Mayo a 10500000. Whatever it is. No matter how much you contribute as long as you do and all you have to do in order to donate. To the DAV. Is you can call 6173854929. That's if you wanna use the phone you can call 617. 3854929. You can text DAV. 80077. Or you can go online to wrko.com. Slash radio on it you can donate online there. Does matter which when he's all the money goes to the same place again the big thing is just that you participate here we've talked with. You know a number of different vets here today from tolerate Ogunleye had a Steve bond Dan McCue and all about their experiences with the DA Avian how they help. Veterans who come back injured get back into civilian life. In it's again the these are people who give up portions Mayo of their lives in order to make sure that we're safe here at home and the least that we can do is make sure there's. Porter when they come back and it's not only a good charity but it's also an efficient one that's getting results that's helping people in a positive way. And delivering on what promises not all charities this early do that this one is doing. Once again the number to call is 617385. 4929. Or you can text VE 0077. Or. Go on to wrko.com. Slash radio Thon and you can donate online. Quick check of markets before we wrap up. All the major indices still in negative territory right now the Dow was off 43 yes he is off five the NASDAQ is off six right now so we could have to back to back down days for the first time entrant in the last time we had that was it a little one's been a long time we've had very little volatility and now we've been edging up higher and higher but the last two days. No question applause at or at least that is all the time we have for the day checks out of Tucker silver and John Moody here. Barry Armstrong back in on Monday enjoy the weekend and we will see you later on the financial exchange radio them.