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Fox News 22 May 2020

Steve Forbes credits pressure from demonstrations as catalyst for reopening

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Personal finance expert Chris Hogan and Steve Forbes, chairman and editor-in-chief of Forbes Media, field questions from Laura Ingraham's panel of small business owners. #FoxNews #IngrahamAngle


The first COVID-19 positive patient in Kent Hospital received a standing ovation from staff as he was leaving, 18 days after he was admitted.
President Trump announces he is asking Congress for $250 billion to help replenish small businesses. #FoxNews

FOX News operates the FOX News Channel (FNC),
Ohio is holding its primary elections today and most ballots are being cast by mail due to the coronavirus pandemic. Lessons learned from this experiment could forecast how the general election is conducted in November. Jeremy Pelzer, a reporter with Cleveland.com's Capitol Letter, joined CBSN with the latest.
President Trump announced the launch of a food assistance program for farmers to provide financial relief amid the coronavirus pandemic.

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BUT GENTLEMEN, I WANT TO
CONTINUE THIS CONVERSATION ON
REOPENING THE COUNTRY AND
GETTING PEOPLE BACK TO WORK, BUT
FIRST, LET’S BRING IN OUR
FINANCIAL GURUS TO DISPENSE
ADVICE FROM STEVE OR STEVE FORBE
AND CHRIS HOGAN, RADIO TALK SHOW
HOST, AUTHOR, AND PERSONAL FINAN
EXPERT.
CHRIS, YOU’VE BEEN LISTENING TO
THE STORIES TONIGHT FROM OUR
BUSINESS OWNERS, NEW JERSEY,
MASSACHUSETTS, VERMONT, KIND OF
FOCUSED ON THAT PART OF THE
COUNTRY, FOR NO GOOD REASON, BUT
THOSE ARE PLACES STILL SUBJECT
TO THESE PRETTY DRACONIAN
LOCKDOWN ORDERS.
WHAT DO YOU DO WHEN YOU ARE IN A
SITUATION LIKE THIS?
IS IT CIVIL DISOBEDIENCE?
IS THAT LAWSUITS?
ORDER, JUST PRAY, AT THIS POINT?
>> WELL, LAURA, WHAT YOU SEE
WITH ALL THREE OF THESE BUSINESS
OWNERS ARE PEOPLE THAT ARE
FIGHTING TO SURVIVE.
THESE BUSINESS OWNERS ARE VERY
SERIOUS ABOUT THEIR BUSINESS.
THESE AREN’T HOBBIES.
THIS IS HOW THEY ARE SERVING
THEIR CONSTANT NUMBER OF
CUSTOMERS, THIS IS HOW THEY ARE
PROVIDING FOR THEIR FAMILIES, SO
THEY NEED THE
OPPORTUNITY TO BE ABLE TO PUSH
FORWARD, AND THE ROAD TO
RECOVERY DOESN’T HAPPEN SITTING
IN HIDING, IT’S ABOUT US MOVING
FORWARD, CLEARLY, AND BEING
AWARE, TAKING PRECAUTIONS.
AS THE GENTLEMAN SAID COME UP
NORTH, THEY ARE DOING EVERYTHING
THEY CAN TO KEEP PEOPLE SAFE
WHEN THEY COME IN, WE NEED THAT
RIGHT TO BE ABLE TO MOVE FORWARD
IN THIS COUNTRY.
>> Laura: STEVE FORBES, YOU
GOT THE SENSE TODAY FROM THE
PRESIDENT THAT HE IS JUST ABOUT
DONE WITH THE DRACONIAN LOCKDOWN
ORDERS.
HE SEES THE REAL HUNGER IN THE
AMERICAN PEOPLE TO GET BACK TO
WORK SAFELY.
I LOVE FRANK’S STORY, THE
IMMIGRANT STORY, HARD WORKER,
REMINDS ME OF MY MOM STORIES
ABOUT HER PARENTS, AND JUST THAT
ETHIC OF "I WANT TO GET OUT
THERE AND WORK.
I DON’T WANT TO SIT AT HOME AND
WATCH NETFLIX AND WAIT FOR A
CHECK.
I WANT TO BE OUT THERE WORKING."
AND THAT IS THE STORY OF
AMERICA, AND WHAT ABOUT ALL OF
THESE IMMIGRANT BUSINESSES NOW,
STEVE?
WHERE DID THEY GO?
I MUST RESTRICT GIVING PEOPLE
CONFIDENCE TO GET BACK IN?
>> THAT IS WHY THE PRESSURE,
WHETHER IT IS CIVIL DISOBEDIENCE
OR GOING AFTER YOUR
REPRESENTATIVES ON THE LIKE,
PETITIONING, HAS GOT TO BE DONE.
WE ALREADY KNOW, WE SEEN IT IN
FLORIDA, GEORGIA, COLORADO,
WHICH HAS A DEMOCRAT GOVERNOR,
BUT HE USED TO DO BUSINESS AS
BEFORE, HE KNOWS NO REVENUE, YOU
DON’T SURVIVE, SO WE HAVE TO
KEEP THIS OPENING GOING WITH
SPEED, WE KNOW IT CAN BE DONE
SAFELY, WE’VE SEEN IT IN ACTUAL
PRACTICE, AND THE OTHER TWO
THINGS, BY THE WAY, THE FEDERAL
GOVERNMENT CAN DO, IS PROVIDE
LIABILITY PROTECTION WHEN THESE
BUSINESSES OPEN, THEY DON’T GET
HARASSED BY LAWSUITS, FRIVOLOUS
LAWSUITS.
THE OTHER THING THEY CAN DO IS
SUSPEND THE PAYROLL TAX, SO WHEN
YOU HIRE SOMEBODY, YOU PAY THEM,
YOU KNOW THAT, THE COST OF LABOR
IS LESS, THEY EARN MORE, WIN-WIN
ALL AROUND.
ONE OTHER THING, LAURA, I’M
SURPRISED THE FEDERAL GOVERNMENT
HASN’T DONE IS THE TREASURY
DEPARTMENT HAS KEPT RIDICULOUS
RESTRICTIONS ON GETTING LOANS
FROM THE PPP PROGRAM, 75% OF
YOUR MONEY HAS TO GO FOR
PAYROLL.
THE FACT OF THE MATTER IS, FOR A
LOT OF BUSINESSES, UTILITIES,
RENT, ARE THE BIGGEST EXPENSES.
TREASURY CAN THROW OUT THOSE
DUMB RULES RIGHT NOW.
I DON’T KNOW WHY THEY DON’T DO
IT.
SO, ALL OF THE ABOVE.
YOU PRAY, YOU FIGHT, YOU GET OUT
THERE, AND YOU PRESSURE, AND THE
DEMONSTRATIONS WORK.
NEW JERSEY WOULDN’T HAVE GONE AS
FAR AS IT DID, WHICH IS ALMOST
NOWHERE, IF PEOPLE HADN’T GONE
OUT AND STARTED TO DO THESE
DEMONSTRATIONS.
WE’VE SEEN IT IN OTHER PARTS OF
THE COUNTRY, TOO.
>> Laura: AND BUSINESS OWNERS,
GUYS, HAVE SOME SPECIFIC
QUESTIONS FOR OUR ECONOMIC MONEY
GURUS, SO I’M GOING TO OPEN IT
UP NOW.
NICK, LET’S GO TO YOU FIRST,
NICK.
WHAT IS YOUR QUESTION?
>> SO, A LOT OF BUSINESS OWNERS
HAVE 401(K)s COME AND WE ARE
NOT GETTING THE FUNDING WE NEED.
THE PPP MONEY IS SUPPOSED TO
LAST FOR EIGHT WEEKS, AND WHERE
TEN WEEKS, LONGER?
TWO MONTHS, THREE MONTHS?
A REPOLL FROM THE 401(K)s OR
IRAs, WHAT KIND OF PENALTIES,
IF THEY WILL BE WAIVED, AND ARE
WE GOING TO BE TAXED FOR THAT?
>> Laura: CHRIS, WHY DON’T YOU
HANDLE THAT?
>> WITH THE CARES ACT, THEY
LIFTED THE 10% PENALTY ON THAT,
BUT YOU ARE STILL GOING TO BE
LIABLE FOR THE TAXES OVER A TWO
YEAR PERIOD, SO PULLING MONEY
OUT OF THERE RIGHT NOW, THERE IS
NOTHING IN PLACE TO SHIELD YOU
AT ALL.
YOU WOULD STILL HAVE TO PAY THE
TAXES OVER A TWO YEAR PERIOD OF
TIME, SO GUYS, I KNOW, AS YOU
LOOK AT YOUR BUSINESS AND ARE
THINKING, OKAY, WE ARE READY TO
OPEN, WE ARE TRYING TO DO WHAT
IS EVER NECESSARY, I JUST WANT
TO CAUTION YOU, AS YOU DO THAT,
ESSENTIALLY YOU ARE PULLING FROM
THE FUTURE TO TAKE CARE OF THE
PRESENT, SO YOU WANT TO BE VERY
MINDFUL.
I TELL PEOPLE THAT ARE TWO
REASONS TO TOUCH RETIREMENT
FUNDS: PREVENTIVE FORECLOSURE OR
TO PREVENT A PERSONAL BANKRUPTCY
BANKRUPTCY.
SO BE MINDFUL OF THAT AS YOU
WALK THIS PATH.
>> Laura: LET’S GO TO FRANK
NOW.
FRANK, OF COURSE, THE RESTAURANT
BUSINESS.
FRANK, YOU HAVE A QUESTION ABOUT
CAPACITY.
>> YEAH, I WANTED TO KNOW, HOW
I’M SUPPOSED TO PAY 100% OF MY
BILLS WITH ONLY 25% OF THE
OCCUPANCY THAT THE GOVERNMENT IS
TELLING ME I’M SUPPOSED TO DO,
WITH 6 FEET SEPARATION.
>> WELL, FIRST OF ALL, WE KNOW 3
6 FEET, AND SECOND, THIS
MICROMANAGING, NICK FAKING 25%,
32.3%, IT’S RIDICULOUS, THEY ARE
ARBITRARY NUMBERS, AND YOU
SHOULD MAKE THE JUDGMENT AND LET
PEOPLE JUDGE IF THEY THINK A
PLACE IS SAFE AND UNSAFE, AND WE
NOW KNOW, WE, THE ELDERLY, ARE
MORE VULNERABLE, IF YOU HAVE
CERTAIN CONDITIONS, YOU ARE MORE
VULNERABLE.
TRUST THE PEOPLE, THE
INFORMATION IS OUT THERE, POST
INFORMATION, PROVIDE THE MASKS,
THOUGH I’M SURE YOU’RE FINDING
WAYS TO ALLOW US TO EAT AND HAVE
THE MASKS NEARBY, BUT THESE
ARBITRARY NUMBERS ARE JUST
NONSENSE.
THEY SHOULD BE GOTTEN RID OF.
USE YOUR JUDGMENT, AND THE
PEOPLE WILL MAKE THE DECISION,
IS OF THE SAFE OR UNSAFE?
YOU’VE GOT TO HAVE REVENUE.
>> Laura: I THINK THE IDEA OF
MEASURING SEATS, AND I SAW
SOMETHING YESTERDAY, GUYS, IT’S
REALLY 18 FEET.
I KID YOU NOT, THERE WAS A VIDEO
ON ONE OF OUR CABLE COMPETITORS,
WELL, THROUGH THE 18 FEET.
NEXT WEEK, IT WILL BE A MILE,
AND YOU CAN STILL GET COVID.
EW -- HOLD ON, CHRIS, WE’VE GOT
TO GET EW INCOME AND HE’S NOT
GOING TO GET HIS QUESTION.
EW, I WANT YOU TO SPEAK UP, YOUR
SKYPE WAS A LITTLE LOW LAST
TIME.
YOU HAVE A QUESTION, GO AHEAD,
MY FRIEND.
>> SURE, IF STATES ARE REQUIRED
TO PROVIDE -- FOR THE BENEFIT OF
EVERYONE ELSE COME IN THIS CASE,
PUBLIC SAFETY IS WHAT WE HAVE
BEEN TOLD, WHY IS THAT NOT
HAPPENING?
>> Laura: WHO WANTS TO TAKE
THE OUTCOME OF THE GURUS?
CHRIS, YOU TAKE IT?
>> I DON’T KNOW, TO BE HONEST
WITH YOU.
ON THE GOVERNMENT SIDE, A LOT
THERE’S A LOT OF TRYING TO
FIGURE THIS OUT ON THE MOVE.
THERE WE’VE NEVER SEEN ANYTHING
FROM A
PANDEMIC SITUATION.
WE’VE SEEN TOUGH TIMES, 9/11,
Y2K, THE GREAT RECESSION UP ’07
END ’09.
ALL OF THESE GOVERNORS ARE
OPERATING AUTONOMOUSLY, THEY CAN
MAKE SOME DECISIONS.
I DON’T KNOW.
IF I’M YOU, I’M PUTTING PRESSURE
ON MY STATE REPS, GOING TO HAVE
MEETINGS TO FIND OUT, WHAT ARE
THEY DOING TO HELP?
RIGHT NOW, WHAT THEY’VE DONE IS
GIVEN YOU A LOT OF RESTRICTIONS
AND PREVENTED YOU FROM PROVIDING
FOR YOUR FAMILY.
>> Laura: ALL RIGHT,
GENTLEMEN -- LET ME JUST JUMP IN
THERE, BECAUSE I WILL SAY THIS,
I WILL SAY THIS.
HOLD ON, I WILL SAY THIS.
CREATIVE LAWYERS CAN COME UP
WITH GOOD CAUSES OF ACTION, AND
YOU ARE ON THE RIGHT TRACK, EW,
WITH TALKING ABOUT A TAKING.
YOU ARE TAKING PEOPLE’S
LIVELIHOOD, YOU MUST COMPENSATE
THEM ON THE OTHER SIDE, AND I
THINK YOU ARE THINKING THE RIGHT
WAY.
ALL YOU CEOs, SMALL
BUSINESSES, MEDIUM-SIZED, GET
TOGETHER AND PUT PRESSURE,
LEGISLATIVELY, THROUGH LAWSUITS

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