• With: Donald Trump, CEO of Trump Hotels & Casino Resorts

    This is a rush transcript from "Your World," October 11, 2012. This copy may not be in its final form and may be updated.

    (BEGIN VIDEO CLIP)

    PRESIDENT BARACK OBAMA: Donald Trump is a small business. Now, I know Donald Trump doesn't like to think of himself as small anything.

    MITT ROMNEY (R), PRESIDENTIAL CANDIDATE: It's not just wealthy people -- you mentioned Donald Trump. It's not just Donald Trump you're taxing.

    (END VIDEO CLIP)

    NEIL CAVUTO, HOST OF "YOUR WORLD": Well, Donald Trump's name comes up in the darndest places, doesn't it?

    It's too early to say whether he comes up in the vice presidential debate tonight, but, as you remember from the presidential one, it was all over the definition of who's a small business and what defines small business. The Romney camp saying that, yes, well they account for 3 percent of the returns and those benefiting from or not from a higher rate. They account for quadruple that in the number of jobs that they generate.

    Anyway, Donald Trump joining us now on the phone.

    Donald, do you suspect your name comes up tonight on this very issue?

    DONALD TRUMP, CHAIRMAN & CEO, TRUMP HOTELS & CASINO RESORTS: Well, I was very honored when I heard.

    I was watching the debate and I thought Mitt Romney did fantastically. And, all of a sudden, my name was mentioned. And I said, wow, that’s sort of cool.

    (LAUGHTER)

    TRUMP: I doubt it comes up tonight again. I hope it does. It's such a great thing to have that happen.

    But I doubt it. I can't imagine.

    CAVUTO: You know one interesting strategy here on the part of those who are for raising taxes on the upper income is they put guys like you in that group, that guys like you benefit. Mitt Romney was trying to say that is not typical, that that top range covers guys from all the way up from billionaires like yourself and all the way down to the small businesses he says could be in peril with hiring and likely laying off of workers.

    Do you think that resonates?

    TRUMP: Well, I think to a certain extent.

    I have thousands of people that I employ. And over the years, I have employed tens of thousands of people. I'm a very, very big job provider. So, when they use me as an example, and it's sort of really an example of exactly that, I think you have to sort of take it and say that is a very nice thing to have your name mentioned.

    I'm a big, big job provider, and that's one of my great honors.

    CAVUTO: I guess, for want of a better description, a fellow casino mogul, Steve Wynn, said almost what you said to the letter, that he feels offended as a job provider that he hasn't done enough and that he should do more. He is very disappointed in President Obama, says he voted for President Obama, but he seems like he has got buyer's remorse and then some.

    What did you think of that?

    TRUMP: Well, Steve is a good friend of mine, and a terrific guy.

    And you talk about a job provider. He certainly is. He is very angered by what is going on and he is angered by I think what people are starting to think of this country.

    CAVUTO: But you say stuff like this, Donald, and of course Steve Wynn over the last year or so has started to say this.

    But he mentioned something interesting, that is Mr. Wynn, when he talked about -- paraphrasing here, Donald -- I have talked to many, many business men and women who say the same thing to me, but that they don't say the same thing publicly.

    Why do, if that is the case, so few in the business community speak out to the degree if they have real concerns about the president the way you do or Steve Wynn does or maybe a half a handful of others publicly?

    TRUMP: Well, the president has really gone through I think almost a lifetime where people don't criticize him.

    You can say whatever the reason is. And everyone has different reasons. But he's gone through a life of a lack of criticism, whether it's the press or anything else. In fact, frankly, the single biggest point of criticism was his poor performance in the debate the other night. That was a very poor performance.

    And I think, on the other hand, Mitt was fantastic. He really did a great job. People have not criticized Obama. They don't want to be called a racist. I mean he called Bill Clinton essentially a racist.

    Now, I know Bill Clinton, and that is not a racist. But people don't want to be put in that position. And I think, until just this last week, I've never seen so much negativity about President Obama as I have in the last week. And that was because of his performance.

    But they don't want to criticize. They're -- they're -- I don't know if they are afraid to criticize or what. They don't want to criticize him. You know, we need certainty. And I think one of the things that Steve is saying, this country has no certainty. We don't know where the tax codes are going. We don't know anything about what's happening with the country. And, therefore, we don't invest. We're afraid to invest. We don't know what the future holds. And that in turn stops people from being hired. And -- unless people are going to be hired. And I don't mean the phony 7.8 percent that they came up with out of the blue, where every economist, even the Obama people, were shocked to see that number.

    And, by the way, it will be adjusted after the election way up. And you know that and so does everybody else. But we need certainty.

    CAVUTO: So you do not trust that data? You don't think it was just a goof? You think it was a deliberate goof?

    TRUMP: I don't know if it was deliberate or not, but it's absolutely a mistake. And you'l see that in about two months from now when they readjust the numbers, as they have been doing for the last two years. They readjust them all the time.

    But the problem is the adjustment and the readjustment will be after the election. So, we'll have to see what happens.

    (CROSSTALK)

    CAVUTO: We shall see. We shall see.

    TRUMP: But even the economists that are Obama economists said, that's unbelievable. Nobody predicted that.

    CAVUTO: All right, Donald Trump, always a pleasure.