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tv   Varney Company  FOX Business  September 6, 2017 9:00am-12:00pm EDT

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>> very threatful. thanks even. great show today. >> great to see you thanks for being here that will do it for us. "varney & company" begins right now. stuart over to you. stuart: thank you irma is the most powerful atlantic storm ever recorded. it is headed to florida. d.c., the swamp, has a swarm of its own the calendar in memory, plus a president who demands tax cuts now. good morning everyone. florida's governor rick scott has mobile mobilized national guard and ordered mandatory evacuation of the florida key, schools are closing, no tolls on l if's interstate highways. the exodus north has gun and irma made landfall of st. martin early this morning on track to hut puerto rico and cuba and this weekend south florida. all right now look at this. there's a runon supply at the line around block at costco irma
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is coming. and south florida knows it. it is a political storm that has hit washington. the president froze the immigration born into congress's court, cruel, heartless, coward essays left and media, and congress faces broader challenge. they're now 11 days left to pass a budget, debt ceiling deal and maybe irma relief package too. on top of that, a bruising fight over tax cuts. can the republicans speak speaker rion can can they get done well later today president trump stomps in north dakota looking for democratic support to take heidi with him onboard air force one. president approach is this with i want tax cuts now. and if it takes democrats support so be it. [laughter] thanks for joining us everyone. we're in uncharted territory on both weather and politics. throughout the program, you will
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see the track of irma, the reaction of the market and key news makers kellyanne conway and tax cuts guy kevin brady "varney & company" is about to begin. ♪ >> well, well, well will you look at this the idea that maybe tax cuts package has a good pooch is raising the market that's any opinion. dow will open up about 70 points this morning after a 200 point drop yesterday. the tenure treasury yield at 2.80 flight to safety of the united states treasury securities. that is pushing yield down 208 as a of now. look at this price of gas up another two cent gofers night national average is 2.66 that is up 26 cents from one week ago. all right trump he's going to be
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going to north dakota today with a speech on tax cuts with a excerpt from his speech and makes comparison with president ray gone both of the reagan tax cuts passed by a democratic majority in the house. a democratic speaker and vast majority of democrats to the senate. including a democratic senator from the great state of north democrat if they don't want to raise your pay and help america win, voters should deliver a clear message. do your job to deliver for america ore find a new job. well look who is here liz pete columnist with fiscal times liz, i think that had the odds of getting a tax cuts deal just went up. because the president is going to get i think he's imponing to get democrat support. j i think he needs some democrat support look his job is to sell this to middle america as something that's going to benefit not only -- the economy and businesses. but also middle-class voters who
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put him in office. right. so where's he going? he's going to places that are protrump territory and he won by 40 points in north dakota taking with him within of the eight senators who are up for reelection in states that he won handily. so this is very powerful. what he's trying to do is not only sell his program. but counterchuck schumer relentless refrain that tax cuts are only for the wealthy. we know that's not true. we know it is good for american jobs and work he needs to sell that . >> straightforward cut in tax rates period that's all it is it would be demagogue to death as a report. >> it has been. it is ridiculous but if you call it the middle-class tax cuts an end deductions for upper income earnings it is middle class. >> more of a compromise than a straight across the board cut for everyone. so whether it is surplus. so the question -- >> it's all about jobs his whole
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campaign was about creating jobs and this -- you know, only reason that water are going to take vng or get some benefit from these proposed tax changes is because so many small employers file as top -- earners had in the united states. that is the only connection otherwise wealthy will not be -- taking any advantage. >> i think that might be what's helping harkt this morning up about 70 points premarket. >> see how it is going forward. that's for sure. stay is will a lot more for you now democrat senator bob menendez of new jersey in court today he faces charges of bribery, and this trial will have big implications for congress. judge napolitano is here. >> what you used will be in court. physically in court. because district court judge in new york 85 year old and feisty you are this morning order that senator menendez be be present in the courtroom for the entire trial such an order is
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unprecedented when the defendant is out on bail. only time that defendant has had to be there is for sentencing if he's convicted. so the defendant bob menendez through his lawyer says, i represent the state of new jersey in the united states senate. i can't do that if i'm in the courtroom. i should be tiebl when to come in the courtroom and not because there's this clause in the constitution that protects my right to go to the and court -- >> if it was legal status whether it was there or not. and air force legal sat us. he will be there. >> he can't vote. right. he can't vote in the senate. but if judge says you will be there. >> he has no choice but to be there and new jersey denied a vote and chuck schumer is denied a democratic volt. that's the significance of this trial on the congress. what he thinks is sometimes decided by one or two votes democrats likely lose a vote for duration of bob menendez's trial. j should defy the judge in this case and go to washington make
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the vote may. and the consequence. j runs risk of being arrested but that would be so unusual to arrest someone for going to congress to vote. when the constitution expressly protects your right to go. >> all right real fast the media reaction to the dropping of daca and president pushed intercongress court you do something. >> bill the skunk at the garden part because i'm with our friends at wall street journal these are 800,000 productive people the summary removal -- >> that won't happen judge and not removed. congress is beginning to fix this. >> within way or the other. >> if the president's goal is to prod congress then the president should get more credit than he's getting from the media. if the president's goal is to feed his base by going after 800,000 people he's spending time -- stuart: doing a constitutional duty to congress to fix this immigration mess not an
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executive order the president. >> i agree with you on that but did you every president has not supported these people since ronald reagan. >> do you think it is legitimate for the media today to say, that president is guilty of coward that he's cruel and heartless that is beyond -- >> i think president is guilty of bad time and 30,000 of people in houston and have no homes trade to make application to the truest government. >> only because they've been pressured by activists who want a grind and ax they can surely -- they can rest assured with six months they're not deported in that six month period. this is the product of activists who are trying to divide america. >> yes, agree. but it would have been better had had the president waited until houston was over. >> aisle feeling feisty this morning. >> coming back at 11? stuart: you're lucky. >> another side at a menendez that has republicans salivating.
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>> suppose he's convicted -- chris christie is still the governor of new jersey. >> that's the piece but i'm giving you the answer -- >> the answer wants to know maybe stick arranged for another two hours you never though. >> they will. please do. stuart: serious stuff hurricane irma heading to florida. phil keating is there. so phil tell me has exodus north begun? >> absolutely it has. traffic northbound on the turn it pike as we're coming southbound to get you to the city was insane a lot of this evacuees from the keys all tourist he is to leave keys as of sunset last night, as of 7 p.m. tonight, all residents in monroe county that's from key kes to key largo have been order to evacuate. that's from where they come down that way is key largo we've seen a lot of boats on trailers, a lot of jet ski on trailers people traveling with pack ul if of car and dogs and in the
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backseat, and certainly a sense of panic and stress and tension is rising around this state over in miami beach. they're sandbags and in anticipation for what could be a horrendous saturday of irma's ariel and even up had in gainesville in orlando and tampa store shelves are emptying, it is very challenging. not only to get gasoline, because everywhere a driver goes, they have signs on the pumps that say no gas. and word is always, well we're expecting a fuel truck to come down here today. we just don't know what time so people are sitting at empty gas stations 25 cars at a time just parked and killing time and waiting for these trucks to hopefully arrive. and on store shelves grocery stores, no water, no cases of water, very challenging to get supplies, preem certainly very concerned and worried a lot it has to do request television over past ten days in texas. this is beginning to be the worst hurricane --
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to hit florida in at least 12 years. back to you. stuart. >> stay right there phil keating in a couple of hours you'll see my daughter exiting north from her house this south florida so just stay there and wave as she goes by. phil we'll be back to you later. thanks very much indeed. now, obviously, much more on irma throughout the program we have an environmentalist with us who says climate change is not causing more hurricane hads. his name is lundberg you know hill well on the show at 9:50. it's a busy day if the president. the tax cuts push roll ares on. later this morning, he meets with congressional leaders of the white house. then he gets on air force one along with -- democrat senator heidi hyde camp traveling to get a big speech on tax reform another one and boy do we have an all star line yup in the 11:00 hour an update from ken brady top guy on the tax writer committee in the house but next kellyanne conway top advisor to the president on trump's big push to get democrat
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support for tax cuts. great show, "varney & company" continues
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>> as promised joining us now kellyanne conway to the president welcome back to the program great to see you again. >> thanks stuart. stuart: looks to us that president trump is making all out push to get a couple of democrat senators moving to pass tax cuts it. is that what's going on? >> yes, today president will travel to north dakota, heidi will travel on air force one with the president and i think that's a great sign with respect to the democrats who know that constituents and job creator and job holders and seek rs in their state deserve desire meaningful tax reform and tax relief and haven't had a major tax cut in years and we immediate to lower the burden. >> trying to think if forward i'm imagining the speech in had north dakota later on today.
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heidi sitting in in the audience, the president is at podium, he's saying democrats you've got to change your minds here. you have to go or for growth, jobs that's a very powerful argument to a sitting senator right in front of him. i mean, i think the president has strong hopes of getting least two democrat senators of his side of the fence, am i right? >> at least, with and stuart i would point out to you and viewers when chuck schumer and minority leader in the senate sent out three democratic senators did not sign on to that letter that includes donnelly west virginia, indiana respectively up for reelection next year in 2018 they know in their state that not only did president trump carry sands but most importantly, they know that their voters and they're citizens deserve a tax cut. this 15% corporate tax rate that the president is fighting for
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and imagine what -- what businesses wowlgd do they were to reinvest that money in their work force and buy better equipment and lower price are percent consumer and contractors, and it's just incredibly important to think about middle class getting a tax relief people are white knuckled at the a end of the month those with two or three jobs they say why are we still white knuckled nervous to pay mortgage, rate, or tuition, and grocery gas bill so trying to give that relief much needed relief with overtax and has been for or ten years. >> outline of the plan told to us by gary is you cut the corporate tax rate and cut individual tax rates but at the same time you claw back some of the deductions which are used by upper income pole that makes it a middle class tax cut is that the broad outis line that president has in mind here? >> those are in addition to child care tax credit is currently in the bill, and that is meant top help middle class
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family meet those expenses and encourage those who want to work and -- find that one of the question burdens is meaningful affordable child care as well. but you know many people say stuart, quite incorrectly falsely that it is a tax cut for the wealthy actually the wealthy countrily benefit from the code as written because they can afford accountant and attorneys and lobbyists to make the code more favorable to them or help them navigate around the code and take management is deduction and credit. so if you do away with most of those, some will survive something more popular to middle class household are expected to survive. but getting rid of most of those actually makes the code more fair and even handed but it also does sthig else it did does away with simplify the way we file our taxes then it does away with billions of hours that we spend and billions of dollars we spend each and every year trying to comply with tax code. middle class families are spending --
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untold hours and then also spending money on software package or tax profit tax reare pair because they fear that irs coming down on them because the unknowingly didn't comply with section of the text so make it simpler and more fair to everyone. >> i want to bring o your attention to get your comment on media comments this morning. following yesterday's suspension onboard the getting away from a daca. "the washington post" say it is that mr. trump is heartless. the los angeles times say it is that mr. trump is just passing the book. "the new york times" akoozs him of cow u ward and says that on dreamers your response to harsh words. >> harsh and they don't understand they seem to not understand what this law was and what it was not. so president obama i have a list of his comments up on your screen at some point from 2010 to 2011 talking about it is congress who makes immigration laws that is true. the constitution does not
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support this this. and that president obama through a referendum at the time initiated this program and never intended it to be permanent when he had 60 democratic senators stuart, he did not say they did not take action they could have taken action this has so important to them then to make it a permanent piece as a law on the compassionate -- the compassion mat piece of this is wind down given six month notice because he's state attorney general were sue welcome and if you have a court due with daca what they've tone earlier this year you could had an immediate resending and so that would have been immediate with the president on his hat call for a six month wind down to give notice and have a order orally efficient process in place. congress says they're going to act they're welcome to act after all they're one who is make the law -- in this country they failed to act for 7 months now they have six more months a total of more than a year and see what they do. >> constitutionally they have had to it is in their court.
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okay. the president tweeting about hurricane irma today -- here is the tweet. watching hurricane closely my team has done an is doing such a good job in texas is already in florida. no arresting for the weary. the hurricanes however kellyanne are something of a distraction i hate to call them a interaction but they get this the way of other legislation like the budget and the debt ceiling. it is going to be a very crowded schedule isn't it? >> well the hurricane is a human traj city so people are suffering and in houston we're told there are still about 30,000 people in shelters 55,000 without power, and about 63 deaths and there's no way to look around corner and know what's in front of that recovery rebuilding effort so president made clear his administration that money will be there and he'll be there. to see this and irma bearing down yesterday the president did -- he approved state of emergency i
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believe for florida and virgin islandings and puerto rico, and we're tracking irma as well. but you saw really the president compassionate best and those of the cabinet as well for congress hoping that house will act as soon as today or tomorrow on harvey relief with the later in the week maybe the house will stay through the weekend and expected to get afl this done. but again this is donald trump. if you are a businessman and you're not a politician you're not of or o for in the swamp, your entire career here in washington you're accustom to doing many important bold things at ones and than as president he's ready to sign tax reform into law. health care rsm into u law and harvey debt ceiling the budget certainly continue to move toward it building the wall and funding many things on docket but president is ready for them and up to congress to put it on his desk. >> as always great talking to
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you. thank you very much. liz pique with me let me again go through what look like outline of a tax cut package lower corporate tax rates lower individual tax rates. but some of the deductions available to wealthy people clawed away, that makes it a middle class cut. that's right biggest one, of course, is deduct itibility of states and local taxes which is a real slap in the face at blue states, with massachusetts, california, new york, our own hometown, new jersey et cetera but the truth is, charitable deductions was not -- didn't talk about that. not going to happen many mortgages you know mortgage interest deduction they could pair that back and limit it in some ways. >> said that would not. home free. but the real estate lobby is huge and powerful, i think they have i did a story is on this one six different kinds of tax breaks for homeowners. they could limit in some way the -- second home deduction things like that which already have been drawn down but basically it
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is state and local, and look this has to happen. i mean, our tax code is a mess 70,000 pages as kellyanne said sitif iing it for americans making it more straightforward is very important. but also a it is important for job creators remember the importance everyone always loves small business employers that's the people we also need to help. so it is corporate rates coming down. and rates on those top earners who are mainly small business employers. >> i'll say it again odds of a tax cut deal going through, are are improved, and i think that's effecting the excuse me the market this is morning. >> we've seen it any too many there's sign of progress, market goes up. >> all right totally different story for you sports fans -- boston red sox reportedly used an apple watch to cheat in a recent game how did that work? >> you hear satisfy gate deflategate another boston team this time for you boston fans out there stealing signs that is when the catcher gives the sign
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to the pitcher what, you know, they agree on what pitch is going to be thrown. there's no law that says you can't steal those signs you get a sense for it. but what the red sox accuse of doing anded is someone had a video feed watching the signs and then using an apple watch to send that information to someone in the dugout who then -- gave that information to the batter so batter is looking across to the dugout guy in the dugout who used apple watch electronic device that's the key here. that is not allowed. so in other words, you know a fast ball is coming you get a heads up on what's coming your way and so -- apparently the yankees complained about this the last series in boston they news it was going on and then provided video evidence and then major league baseball they can get fined? >> nothing. like delaware deflategate, nothing. cheating in baseball. j happy to help you.
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[laughter] stay here everybody because we're about to take you to wall street for opening the market and we'll see that market go up not much after yesterday's 200 point decline but up maybe 60 a welcomed sign of a modest turn arngd. we'll be back.
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>> well this is going to be a very interesting day on the stock market and then we were down 234 points on the dow yesterday. this morning we've got a deal with maybe a tax cut deal and certainly hurricane irma. bang, 9:30 wednesday morning we're off, we're running where are we going? we're going up i awful lot of green and 75 points right from the opening bell we're up. back at 21,830 that's a gain of about a third of one percent. how about the s&p 500, broader base as we always say up the same amount in percentage materials about a third of a percent nasdaq the technology indicator up a third of one percent all across the board stocks bouncing back a little this morning. the ten year treasury yield now pegged at 2.08%. that's suggest that the flight to the safety of treasury security is not exactly coming to an end.
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no further flight to say -- i can say that right, ash? >> otherwise yield could come down more. ashley west aforementioned the guy with the british accent all right shaw. on the last time you were on this program you said to me, you're turned you used to be bye-bye bye-bye -- now you turn. what are you saying today? >> stilt cautious and remain cautious this is a nice bounce off of the action yesterday which was disappointing but i think and you've been talking about this based on prospect of tax cut. that's my opinion. >> i think ab sent that talk this morning, last night i don't think we would have seen this bounce. >> when shaw says i'm cautious does that mean he's stopped buying as o opposed to now selling? dges stop buying and put in implemented stops. caution i got you. trump big news today he to north dakota to talk taxes trying to get democrats onboard scott, i
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think the odds o of a tax cut deal have gone up, if he can get a couple of democrats onboard what say you? i have to say i can't believe it until i see it and something done around corner now we're heading into october at the end of september and i'm still await for something that i thought was pretty much a given. so i'm going to have to see it to believe it. i would like to think that it is going to happen but i'm not goig to get stuck many that predicament anymore. >> hold on a second scott the market is up this morning. we're now up 85 points liz, is that because in part the odds of getting a tax cut deal are improvingsome >> i think it is. but i also think there is in the economy we just got readings from manufacture manying last month highest in six years with more that economy is not only
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stlong but celebrating i think if we begin to see and people are talking about three and a half% growth in the second half, you know, that's pretty strong medicine for a market. think with we would get a middle tax cut deal. >> economy on every day. the economy has been diagnose ate better and we're still beyond muddling along and moving decent strides we need tax cuts to push us forward. >> now other big story of the day, of course, o is hurricane irma. it is heading towards florida. and insurers basically based in that state to ensure florida property they're in deep trouble and way down yesterday and down some more today only national holdings is up a fraction there. the rest down some more. by the way, cruiselines are also affected by this. carnival royal caribbean on downside okay not much but cruises will be affected and
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stocks are down. how about airlines? lots of flight cancelations throughout florida. key west airport i think shaw, already closed. [laughter] lots of flight cancelations down go airline stocks this is all irma. now shaw, what do you think will be the long-term effect on the stock market of first harvey now irma. >> a year to 18 months i think it will affect a the economy and gdp and a lot of production. going to be cut, and look there's a lot of goods and services that won't flow properly and look, as what's happened in harvey already we're already seeing production cuts everything across the board in texas. so i think miami gets hit if south florida gets hit and east coast of florida gets hit entire possibility. there's a lot of cuts with a lot of -- negative to you. >> economic and impact. >> could be a very good good 18 months negative on that impact. with insurance and go back to us
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a ho that is basically uninhabitable seeing that in houston. a lot of homeless people and out of work. version that's a flat yacht loss. that's a loss. not rebuilding because they can afford that. fends how much government comes up with in materials of relief money because if they really fund a spending spree in houston it is a hiccup and production losses the demand is will. those will come back. i don't really see it as more than sort of an interruption. >> all right five minutes into the trading session on the wednesday morning. and we're up 61 points 200 point drop yesterday 21812. j maybe shaw can say this every time we feel we have a dip and it is a blip maybe but people use it as a buying opportunity do we see people coming baa intook the market today when they see stocks go down as an opportunity? >> not as much as they used news
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everybody is cautious here and i think people are looking at earning season is over so a path -- >> when we come back. look what i've got here. i've got -- i've got apple up -- i've got microsoft up i've got amazon up. facebook up when i'm looking at the big five technology stock there's a little bit of buying on that dip. a little bit. >> some buying because those are stocks that lead market and those passive veteran stalks -- so out of corner of my eye i can see scott spying or laughing or heavy breathing what's up shelby? >> answer to that is all of the above. i won't tell you why now. but secondly stuart why aren't we talking about world biggest market. i know it's a fight to quality some of it is. but other things are telling me that bond market is telling us we have things to worry about. and number one the jobs number was horrible. heaven durable goods was horrible we have green shoots and i would love to see that gdp
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solidify above 73% but we have fundamental problems but say it again by not being on obama it is not just muff. we have to see things come through so the bond market is telling me it is flash caution big time and a i want to see if tax cuts don't give this equity market a bump that could be a problem. >> let me run through had other markets outside the stock market, check out o the price of gold. it has been up recently that's another safe haven. it is basically flat today but it is at 1334 how about the price of oil. we were looking at it 48 a barrel yesterday. 49 a barrel today. maybe a there cob some american production -- shortages because of irma but pushed it up to $49 a barrel. how about gas prices up another two cents overnight national average is now 2.66 individual companies companies with new apple new iphone unveiled next weeking but survey shows current iphone users don't have that
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much interest in upgrading. is that a problemsome >> it is a huge problem. because there has been yeah. because apple has had had -- slow sales with iphone 8 and promise -- they're talking 8900 to 1,000 dollars so analysts are coming up with maybe they should include free music or do this or not it is a suggestion and haven't been done yet but guess what, i mean if the -- if the sr. vai show people are not egger for this new phone and we don't know what new phone offers if it is a new look, that's not going to be very impressive there are new aspects of it that are really a wow -- we haven't heard about them yet so that is early. >> apple stock is at 162 so discounting that. they do say pea, that the new iphone -- my script says it will include the apple music storage system. o opposed to -- >> i don't know. i thought it was an analyst
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suggesting that making a suggestion that apple company. >> same analyst at bare said to 1,000 drops to one and a half so drops, that's huge. >> i didn't mean to dismiss it. [laughter] never. even though i know nothing about had had. [laughter] >> quit it. i know something about had this. american express making a big change. they're going to allow customers to pay for certain purchases of $100 or more pay in installments. that makes the american express card a credit card as opposed to a charge card. have i got that right shelby? >> yes. >> you've got that right and seems like some of the millennial mentality stuck into boardroom of american express if you can't afford it, you can buy it anyway so changing rules to make sure that everybody else can do it. i don't like it. >> another thing having some millennials in my family they are so conscience of what every credit card is offering and
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express behind waiver now in terms of perks already orr cards out there that everyone is transferring to. these rids are really into maximizing their credit card usage. >> what is with him this morning? now you're laughing in london. in the video -- [laughter] >> apple they just made it so you can buy that thousand dollar iphone with your american express card and pay overtime and may must be together. >> shaking his head -- a good way to buy. should go up in that news. you know question of to bring you to an end. this before you explode -- [laughter] >> needs a drink -- within 100 yards of that studio i have to say good-bye to liz, shaw, and yes you. but you'll be back all of you. thanks very much everyone. all right we are now ten minutes in, 66 points higher for the dow jones average. 21820 that's where we are wednesday morning. the latest on the north korea
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threat, president trump speaking with china's president early this morning. here's a question, can the president convince to cut economic ties with pong yang odds are against it. blame game i should say that rolls on. now had says bernie sanders paved the way for trump's win we're on it. more varney after this.
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gocentral from godaddy. >> pretty good gain in first 16 minutes with a business 70 points higher for the dow look at had and consider this kohl's has announced that's brick-and-mortar kohl's announced it was online seller amazon what is going on? nicole you've got to tell us. >> pretty interesting the offer says that kohl's and amazon share a customer obsession. they want to bring everything to
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the customer. and this also really shows that amazon may need a physical footprint not everything beyond the the internet. they're going to have amazon products this the kohl's stores. about a thousand foot square foot display where you can try out and buy if you like echo series, fire, the fire tv, the tablet whatever you want you can get all of this stuff at home and then also sign up for the home services the amazon home so set it up and smart home and you can also get plumbing, cleaning, tv, wall mount anything you want, all from amazon and they do have their service pro, background checks. so you don't have to worry about person coming into your home being some sort of criminal. good. this is great for the nontech-savvy person always interested but couldn't do this this could be your gateway. >> i'm not coming to your house don't choir about it opinion not worried it be it. more on that in a moment all
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good stuff no now this talked to president china leader, spoke to him this morning about a half hour actually odds are yeah they were talking north korea. come on in pete, army veteran and fox news contributor what america wants from china is surely cutoff north korea's oil. that's simple. you think we're going to get that cut them off for real . i don't think question get that unless we do kind of thing some in the white house have been encouraging president to do. you don't immediate to induce a laid war with china but eerch trade playing field with china so they they know we're serious or be willing to put tactical nuclear weapons in south korea additional miss had l system. >> that is the crunch time. that north korea, the next time they sepgd any kind of missile we should shoot it down. now that's my opinion. because we're said so many times don't do it again. if you do it again we'll do this. we never did it if they do it
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now, we have to shoot it down. >> and then also say this is a defensive measure on our behalf. so we don't ratchet it up. i see military exercises in the region that's all fine. but kim jong-un seen a thousand military exercises he's yewsing that as a reason to hit his pedal to metal and accelerate ad preempght our preseemings so far down the line that he's put icbm that work and talked about imp tactics outside of the but do devastation to our country and gets there we can't pre-empt so he's rushing as fast as he can shooting one down or -- saying you've got 30 days to comply or we're going to take out this nuclear spot right here. that big step forward. fng what are copses stuart otherwise we slow back to a place where this pin -- dictator has weapons he wants to hold us in permanent blackmail and then hands up technology to iran so middle east they can do
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the same as well. is that the world we want to live in? >> do you got the feeling you're a military guy do you get the feeling that a military confrontation somebody fires shot, do you think that's coming? >> i think it really well could be and kim jong-un needs to believe he's going to die in order to get to a place where he gives up his weapon or actually you have to do something that shows that you will kill him in necessary covertly without military force, this is for the birds might as well hand them nuclear weapons. >> we don't know. >> serious -- >> we doapght know what president trump said to leader shi this morning we don't expect to find out frankly because that's going on beneath the surface. >> kelly is running -- >> appreciate it now listen to this one. governor rick scott giving an update on irma, prepares and preparations going on here are highlights that we've gotten so far from his press campus right will. he says, irma will likely make a
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direct hit on the keys, florida keys on sunday. the keys will start feeling the effects on saturday. he's meads an evacuation order for the florida keys, he says if you're told to evacuate, get out quickly. all tolls have been waiverred on florida roadways and he tells everyone in florida don't sit and wait for it to come be prepared right now. that's what government of it'll rick scott has just said. all right. the dow 30, check them out please 60 point again for the dow industrials plenty of green left-hand side side more on hurricane irma coming up next live update from the fox news weather center and environmentalist who says climate change is not causing more hurricanes. what a show. back in a moment. copd makes it hard to breathe. so to breathe better, i go with anoro. ♪go your own way copd tries to say, "go this way." i say, "i'll go my own way" with anoro.
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>> first priority track hurricane irma, as it close hadses in on florida. so we're going to meteorologist adam for the latest on the storm's track. adam am i right in saying most models now suggest it goes up the atlantic coast. fng yeah that's countrily what we're looking at all kind of turning that direction here recently. still that major storm currently wins at 185 miles an hour but u we've seen gusts up over o 200 miles per hour moving over
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st. mark hads over puerto rico coming in evening hours tonight. here's that track you're talking about or beginning with at least we have -- hurricane watches and warnings no surprise here across all of the islands again san juan something we're talking about folks for them before it runs up through bahamas but that track you wereing looks like east coast staying category five storm until it runs over bahamas and then we get this turn most recent model suggest most likely to run up here on the east side of this, of pee innocence la stuart there and trending towards as of now that could still change. >> wintd is the problem with irma rain was problem with harvey i think that's the way it is. adam thank you very much indeed and back to you later. in the wake of hurricane harvey. some people claim hurricanes are getting worse. and they blame it on climate change. joining us now is lumburg authors of the scepts call environmentalist on the phone with us now. is climate to blame for hurricane harvey so many people
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suggest? no fund mentally 12 years since there hasn't been a hurricane in the u.s. so you can't say hurricane harvey is caused by climate change unless the longest stretch of major hurricane ises caused by global warming but reality is that if you actually look at the last 140 years, we've seen fewer hurricanes hit the u.s. that falls true for all hurricanes major hurricane hads, even for strongest of four and five hurricanes so there's no evidence for that that's also what the unclimate panel tells us they actually have no or low confidence that there will be any increase than tropical cyclone afnght. >> does that make you a climate change skeptic i believe you are a climate scientist are you a skeptic?
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first of all not that scientist but how we tackled with it but with everyone else that climate panel and reports and fund members of the members of the fundamentally there's between what sipes is telling us namely that climate change will probably result in -- slightly stronger and slightly fewer hurricanes. so there is an issue here but it's not one that you're presented with oh, hurricane harvey was caused by global warming this is what there's global warming looks like. and this second part and that's where my expertise is much more relevant is that -- the wrong way to point if you want to help future victims of hurricane harvey and hurricane irma and all of the others. if you want to help, cutting carbon emissions is probably the least effective way of helping the future. it will be very costly, and it
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will achieve almost nothing and, of course, remember even at best, global warming is only a marginal impact on hurricane hads there's still lots of hrbs even there's no global warm so reality is what you need to do is focus on building better infrastructure you know, get, get countries like hughs ton where you can actually handle big downpours or get -- communities in florida that can handle lots of wind. j that's what we wanted some perspective on whole thing and gave it to us with us on the phone there. thanks good to see you again. thank you. now we have the dow industrial up 60 points and early going, this wednesday morning. just in a couple of minutes time we're going to hear from gop leadership, could get news on tax reform or harvey relief or debt ceiling and take that podium just as president trump begins to barn storm to north dakota and challenge his congress. get it done.
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we've got a big second hour incoming jim jordan after this. how much money do you think you'll need in retirement? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, . . . .ng
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stuart: any moment now gop leadership holds its first news conference since returning from recess. remember, please, there are only 11 days left to complete a very large agenda. that will be debt ceiling, harvey aid, and also of course the budget, maybe even irma aid as well. we're expecting news from that news conference. we will bring it to you momentarily. well, the president is demanding action. trump to congress, pass my growth agenda. it is your job, get on with it. there is a twist. he is also saying, if the republicans can't get it done, i will go to the democrats. case in point, today's trip to north dakota. that is conservative-leaning energy state with a democrat
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senator, heidi heitkamp. she will be on board air force one as the president flies to her state today. last week the president barnstormed for tax cuts in missouri. another conservative pro-trump state with a democrat senator claire mccaskill. there is west virginia. big-time trump country, with democrat senator joe manchin. that is three democrats from three conservative states who would surely be prime candidates to jump ship and go for the president's middle class tax cut. wouldn't that change the senate's vote. don't forget the senator menendez, the new jersey democrat whose corruption trial begins today. he could miss key votes. that would help republicans. add it up the president's push to attract democrats make as tax cut deal in my opinion more likely. surely when it comes to cutting taxes the president can rely on unified republican yes vote. he has a good shot getting two or three democrat yes votes as well. the odds in my opinion are
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shifting in the president's favor. the second hour of "varney & company" is about to bin. ♪ stuart: we're 32 minutes into the trading session this wednesday and we're up 73 points, 21 eight. check the big tech stocks we follow all the time. amazon will open a fulfillment center in staten island, new york. 2000 jobs created there. most of the big five on the upside. home depot the biggest gainer of dow 30 stocks. because of likely impact of irma and of course harvey. priceline and expedia on the downside after a travel company, trafalgo, issued a profit warning. it leeches over to them. we we have etf reading on the important service sector.
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ashley: 55.3. that means nothing to anybody. what the trend shows it is improvement from july. we had a weak non-manufacturing number. we saw a slowdown in growth and new order and employment. this is what people are hoping to see. we're seeing a pick up, i think falls in line with the rest of the economy showing nice gains, perhaps a little bit of acceleration. stuart: strength in the economist. maybe a tax cut deal. dow goes up 73 points. fingers crossed. just an opinion. i want to get to politics. president trump will push tax reform in north dakota today. the state democrat senator heidi heitkamp is going with him. here now fox news contributor tammy bruce. what do you think, tammy, ashley is a little skeptical here but odds of a tax cut deal go up if the democrat win as couple democrat votes? >> i agree. this should have been happening at the beginning even with obamacare. we have 10 vulnerable democrats
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that come from states won. north dakota was a blowout. he won by 36 points. the republican governor won by 58 points. she is first-term senator. she was that state's attorney general and their tax commissioner. so she is very interesting to him. this is state, somewhat popular but the general sense is, there is republican waiting to challenge her. this could be very good for her, for trump to support her. this joint event, if you will indicates that. this has to happen across the board. you notice with the changes in the white house, that president trump is doing things like this now. because the other approach did not necessarily work so well, right? so not only will it work because of his involvement, but they realize you have now, what 8% approval rating for congress? they realize they have got to do something for the american people for a change as opposed just for themselves. stuart: do you think it is a unified republican yes vote on whatever tax deal they put in front of them? >> no. stuart: do you see, for example, susan collins saying no?
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>> no. the never trump, loathing of this man is not based in anything normal or reasonable. it is pathological. you will see individuals, even perhaps john mccain, it depend on attitudes. we certainly won't have tax reform. they are going to kill that. then it is about the margin, right? how much will that tax cut be. that is also where i think they will try to stick it. stuart: you do think that senator collins, maybe senator mccain could vote no on a tax cut? >> oh, i think they will find, what senator mccain did on obamacare. he campaigned on that as they all had. none of them have any problem with backtracking or betraying the american people in particular votes. i do think they realize they have got to do something but they don't want it to help the president too much. they need to seem it's a failure for him while still kind of skirting the issue. like with talkca. they resent that, by the way. he was supposed to keep the obama framework so they wouldn't
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have to vote on it. now they're exposed again not being able to do their job. they will not be happy about that either. we'll see. i think the president will win on this. don't expect reform. expect a cut not as much as the president wants. he is working it. perhaps he can pull this off. i'm as enthusiastic as you are. stuart: you are? ashley: i will take diluted tax reform as opposed thed to big ball of wax because something is better than nothing. stuart: how many times? >> guys, we have to say this, republicans control the entire government. can you believe we have to be saying that? ashley: no. that is so frustrating. stuart: tammy, thank you very much indeed. now this, president trump did speak with china's president xi this morning. president trump threatened to cut off trade with any country that does business with north korea, that would include china, would it not? our next guest has another solution to the north korean problem. that is the moral answer to
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north korea threats, take them out. lieutenant colonel ralph peters is with us. that is his latest book. i read it cover to cover. it is great. ralph, come on in. what is this about take them out? you want a preemptive strike? >> everything in one of my columns in the "new york post" i own, the post owns the headlines. stuart: that's different. >> but, nuance. my position is, first of all, it is a moral and ethical as well as a practical issue. why is it moral as people on both sides of the aisle in d.c. assume that we have to wait for north korea to kill americans, possibly in large numbers before we do anything? i'm not ad advocating at an attack today or normal. but when its clear they performed whole cycle, putting a nuclear warhead on targets in
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the united states or our territories, with this regime, consistently and rabidly threatened to kill americans that devastated our country. it is not like the old soviet union, you can not count on them being rational. my position is this, better dead north koreans than dead americans. it would be plain wrong to allow north korea to land the first nuke. stuart: immediate future, the next thing we shoot down the next missile that north korea shoots off, is that right? >> well we actually, i wouldn't for a very practical reason. unless it is coming toward one of our territorieses or allies. we learn most about them from the reentry phrase. the reentry phase is not what they're able to effect, designing a warhead, knows cone, reentry vehicle that will survive the incredible stresses and heat of reentry. that is what we want to watch. the key when they can land a missile without the warhead decomposing in flight, then it's
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time. it is time we have to pull the trigger the meanwhile, stuart, i want to be clear, any alternative that works is far better than war but it has to be an alternative that works. we need to step back to reexamine all the conventional wisdom. conventional wisdom is the great plague in washington. first idea, seoul, we can't do anything because of seoul, south korea. it is reached lunacy, steve bannon's comment 10 million south koreans would die in the first 30 minutes. that is nuts and nonsense. the north korean military is hollow force despite its size. very few well-trained or well-fed units. china strung us very long. as you know stuart, i don't believe china will ever crack down sufficiently on north korea because north korea is china's only military ally, and china sees us as the long term enemy. they will not help their enemy by abandoning the friend.
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rethink the whole thing. maybe we have last chance short of war. but by god, i just don't want us to ever look back to say we should have done something. stuart: well-said. ralph peters, strong stuff. we appreciate it. >> thanks, stuart. stuart: see you again real soon. florida, obviously bracing for irma. the keys, the florida keys expect to get direct impact. billionaire richard branson, the gentleman on the left-hand side of the screen, riding out the hurricane on the private island in caribbean. what do you know about this. ashley: he is a bit of daredevil. he has done it three hurricanes before irma the last 30 years. he will hang out on the private island part of the virgin islands. it is 100 staff. 80,000 a night. he will ride it out, and ride it out in luxury. i was hooking at the latest maps. i believe irma right now is almost on top of this island.
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this is about 100 miles, 150 miles east of san juan, puerto rico, and he is feeling full effects now. he says buildings are strong. he has hurricane blind. i hope he is right. if the wind are up high as 185, they have to be a strong as possible. he likes to ride this out. what does he blame? climate change. i would throw that in there. stuart: he hasn't listened to borne lomborg. we were down 234 yesterday. it bounced back today. the market got a nice boost with the latest numbers on the service sector. showing growth. ashley: looking pretty good. stuart: what's next? jon taffer, host of "bar rescue." the guy who tells it like it is. he joins us. he is talking a middle income tax cut. we'll have much more on irma.
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still category 5 as it hurdles. ashley: and hurls. stuart: that's right. adam klotz back with his forecast. this as southeast texas reels from harvey. congress expected to vote on an aid package this morning but will some conservatives stand on principle and block it when the big package is attached to the debt ceiling? jim jordan on that shortly. ♪
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stuart: 45 minutes into the trading session, we're up 81 points as we speak. the gap up 4 1/2%. it expects the old navy brand,
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it sales to exceed $10 billion in four 1/2 years. that is why gap is up. hurricane irma hit st. marten. it is the most powerful storm in the atlantic. adam klotz with the latest. >> we're looking at moving 16 miles per hour, at this point, it already passed the lesser antilles last night, beginning to run up on the u.s. virgin islands, the british virgin islands. that is the little two islands. right behind it, puerto rico, that is up next, likely passing late today through overnight hours. for folks in puerto rico, good news that it doesn't look like it will make landfall. we have hurricane warnings along the northern coast. it will pass likely to the north, getting hurricane strength winds. it will be nasty for those on the northern end of the island. southern end of the island won't be as bad. next likely landfall it can
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make, category 5 storm, running over the bahamas, hiking making landfall there, that will drop it down to a category 4 storm. it takes moisture and heat from water to fuel this. you run over land, typically slow down a little bit. we're looking sunday, when we get into sunday morning, just south of florida. upper level wind will hit this it will turn it to the north. that is the big story. this turn, where exactly will it turn? we'll be certainly paying close attention to florida. i would suggest people in the carolinas pay close attention, stuart. stuart: just extended cone of risk? >> this is a big one and tough to forecast. stuart: we'll get back to you room soon, sir. victims of hurricane harvey, some are sending a message to thieves, if you loot, we shoot. signs like these surfacings all over texas. who better to address this than ken paxton, the attorney general
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of the great state of texas. what do you make of that, ken? you loot, we shoot, is that texas writ large? >> law enforcement has done a great job last week 1/2 protecting people and saving lives. in texas you have the right to protect yourself and your property. i'm not surprised people are putting signs up, given definitely there has been looting. stuart: hold on, ken, do you encourage it? >> i'm not encouraging violence in any way but reality is in texas, if somebody comes to harm you in your house, you have the right to protect yourself. that is texas law. stuart: okay, what is theft in houston at the moment? i ask that question, because you walk down most streets and the sides of the road, loads of furniture is out there. some is garrage and some is cast off. if i take a bookcase, am i stealing or looting? >> good question. whether the stuff is on somebody's property. taking it off somebody's property without permission, it
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is likely theft. if it is on a public location, obviously something different all together. stuart: how do you work it out whether it is stealing or not? which is which? how do you work that out? >> well i just tell people to be careful when taking property, whether it is personal property or something else they should ask permission if they want to take something off your property. stuart: have you had much of a problem so far with people taking stuff out of houses and looting? big problem yet? >> yeah, you know. there has been a problem, but i think law enforcement has done an amazing job. they put people on notice. they're roaming areas. i think they have done an amazing job preventing a lot of that. private citizens, as i said, in texas, people know they have a right to defend themselves. so i imagine that is a little bit of a disincentive for people that steal. stuart: one more item of real importance here. an appeals court reinstated -- make sure i have got this right.
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they have reinstated the texas voter i.d. law. is that accurate? >> it is totally accurate. happened yesterday, fifth circuit, 2-is decision, three-judge panel overruled the district court which said we couldn't keep voter i.d. we passed in 2011. requires when you vote, you show photo i.d., just like when you go into the courthouses you have to show photo i.d. stuart: that is it? that is end of the story, here in texas you show voter i.d.? >> for now. it was a stay. stopping the district court from allowing us to show photo i.d. we'll go up to the fifth circuit for the actual case. a good sign they put injunction on the district court stopping us from using the photo i.d. stuart: could this be a model for states that want to go with photo i.d.? >> absolutely. we hope it is the model. it's a reasonable law. photo i.d. is required in all kind of financial transactions
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and airlines, everywhere. stuart: mr. attorney general, thank you very much for appearing on our program so frequently before, during and after harvey. >> certainly. stuart: you made a great contribution to the rest of america's understanding what is going on. we really appreciate it, sir. thank you very much. >> thank you. you have a great show. stuart: we do. thank you very much, sir. great to have you with us. hillary clinton at it again blaming everybody else. this time going after senator bernie sanders saying his attacks paveed the way for trump's "crooked hillary" campaign. you can bet we're all over this one, can't you? ♪
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stuart: speaker paul ryan says we'll not leave until we have the harvey aid package done. now he is talking about irma. listen in. >> boats going to rescue their citizens. people all around america sending aid. with one more hurricane, one 185 mile-an-hour winds hitting our shores again, those people in that line are in our thoughts and our prayers. so i just think it is really important we take stock of the fact that civil society in america is well and alive, on display. citizens helping each other. the government will be there to respond to needs of people facing this unprecedented devastation. any questions? >> [inaudible] wondering whether you support a stand-alone -- broader immigration and the second part -- [inaudible]
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>> yeah. so first, let me say, president obama was wrong to do it in the first place because he overstepped his constitutional bound. we, the president and congress take an oath to support and defend the constitution. so president trump was right in his decision. he made the right call. i'm also encouraged by the fact he gave us time to work out a consensus, to find a compromise because these kids don't, for the most part don't know any other home than the united states. i think the president was right to give us the time we need to find that compromise. where does that compromise exist? that is what we'll spend next months figuring out where that compromise is. but i think it is totally reasonable and appropriate when you take a look at the daca dilemma, this is a dilemma in large part stems from the fact it's a symptom of a larger problem and the larger problem is that we do not have control of our borders. it is only reasonable and
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fitting we also address the root cause of the problem, which is borders that are not sufficiently controlled while we address this very real and very human problem that's right in frond of us. so i think that is perfectly reasonable. to the second part of your question we will not be advancing legislation that does not have the support of president trump. we'll work with the president how to do this legislation and if we have legislation coming through here and supported by the president, i'm confident that our members will support that. susan? >> [inaudible] >> i think that is ridiculous idea. i hope they don't mean that. let's think about this. we've got all this devastation in texas. we've got another unprecedented hurricane about to hit florida and they want to play politics with the debt ceiling? that will strand the aid that we need to bring to these victims of these storms that have occurred or about to occur.
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they also want to threaten default on our debt? that is disgraceful they want to play politics with the debt ceiling at this moment when we have fellow citizens in need to respond to the hurricanes so we do not strand them. >> [inaudible] >> what those, what the leaders you just described proposed is unworkable and it could put in jeopardy the kind of hurricane response we need to have. look, many of us got the calls from the administration and omb, said fema is moving so fast we're running out of money as early friday to tuesday. so we've got to make sure we have the authority, legal authority to go out and be able to put money back into fema so we can respond to these hurricanes. not the mention the fact we have to start prepositioning for the fact that irma is about to hit florida. to play politics with the debt ceiling like schumer and pelosi apparently are doing i don't think it is good idea. chad? >> to that end though why not
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then lift the debt ceiling on your own? democrats historically critical of your side not providing votes on big things. you guys have the majority. why not provide votes on your side then, if it is that important to make that argument? >> this takes 60 votes in the senate. what the president doesn't want to do give more leverage where it shouldn't occur on the debt ceiling. this takes 60 votes in senate. it is a 6-vote bill in the senate. you know that. >> -- looking to you to see what comes next? can you guarranty them you will take action on the issue -- [inaudible] >> yeah, look, people should rest easy. i think the president made the right call and president gave us time and space we'll need to find where the compromise is. as i mentioned in my opening remarks, this is a home people know, they don't know any other country as a home. there is serious humane issue that needs to be dealt with. but only fitting and reasonable
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we deal with some root cause of this problem because we don't want to have happen another daca problem in 10 years. we want to fix the issue for these kids and these young people and address the root cause of the problem so we don't have the same thing 10 years from now. that is totally proper. so i do believe that there's a compromise to be had here. i do believe congress -- we'll work with our members to find out where the compromise is, so we can bring resolution to it very legitimate problem. thank you. stuart: there you have it, the press conference, paul ryan, speaker ryan right there. one thing that came across to me was, they will not leave washington until they have the harvey relief deal done. ashley: good. stuart: i believe he said, and producer, make sure i got this right, they will link harvey relief, the big package of relief link that to the debt ceiling. they're not leaving until they have got that done. hurricane irma may be a second package of relief for them of we shall see.
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that is just in from paul ryan. got it. check that big board. whatever mr. ryan had to say, made no difference whatsoever to the market. it is up 70, 80 points. hurricane irma headed towards florida. insurers in that state took a big hit yesterday. tiniest bounces. hci group is up 4%. that is minor league bounce back. cruise lines will be affected. down a little yesterday. down some more today. president trump heading to north dakota later on today. he is talking tax cuts. we have excerpts from his upcoming speech. here is one, i will read it. the pipe fitters and plumbers the nurses and police officers, all people like you who pour their hearts into every penny earned into the officers and oil fields of america, you are the ones that carry this nation on your back. it is time you got the relief you deserve.
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this man understands business, star of spike tv's "bar rescue," and author of "don't bs yourself." of course jon taffer. welcome to the program. >> good to be here, stuart. stuart: you're a trump guy. you want in particular a middle has tax cut. you're gung-ho what the president is offering? >> very much. every dollar comes from the public sector to the private sector fuels our growth. stuart: part of tax plan we understand, lower rate of tax on everybody, federal tax. but to claw back some of the things which are used by upper income people to reduce their taxable liability. you approve of that? >> i do. i think that relief across the board works. i believe that there is a validity to trickle down. fact of the matter, one in one of those brackets, as you, we invest the dollars. i hire people with those dollars. i build things with those dollars. stuart: he is going to north dakota today. taking with him a senator, one
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of senators, democrat senator heidi heitkamp. this is clearly an attempt to cleave off some democrat senator, get on board with a middle class tax cut. i think that improves the chances of getting a tax cut deal done. and you? >> oh, absolutely. to think he is sitting with a democrat representative for the first time i think in a constructive way? they're traveling together is terrific. the fact he won the state by 36 points might have something to do with her presence. stuart: i think so. >> the fact she is there is terrific. bipartisan, even if it's a couple, it's a big start, stuart. stuart: i think of you as a guy in the restaurant business. that is what you do. you're in media. restaurant business is what you do. >> my love. stuart: would a middle class tax cut be a huge shot in the arm for the restaurant business? >> absolutely. let's keep in mind, not only a shot in the arm for the restaurant business from a consumer standpoint but we're largest employer in america as the restaurant industry. look at impact of all employees
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work in the restaurant industry, again it impacts everyone. stuart: isn't that trickle down? most employees in a restaurant do not make kind of money where they get a significant tax rebate? >> that's correct. tips will go up when volume goes up and income goes up with everybody that walks through the door. stuart: you're out and about. you're all over america. that is what you do for a living. what sentiment are you picking up? there is awful lot of trump contempt, there is a lot of doing the man down. they don't like him. they're contemptuous of him. what is feeling among regular people you're in contact with? >> small business owners don't take that posture. small business owners might not love the man but they love the policies. they're connecting to the policies, specific things like corporate tax reduction, middle class tax reduction. specific things restructuring obamacare so it is more business-friendly. these are things small business embraces regardless of the messenger. and they're powerful. stuart: i have a totally
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different story here. starbucks is feeling the heat after some location are said to have up-charged, charged higher prices to consumers on various goods. this happened yesterday. the same day pumpkin spiced latte was launched. i don't know anything about pumpkin latte, for heavens sake, i understand it is popular but what do you say, they raise the coffee price when they introduce the product, is that smart policy? >> that is smart business. you don't raise prices in middle of a cycle but at the beginning of a cycle. they raised prices on cookies 10 to 30 cents. it will affect 10% of their customers half a percent in purchase price which i don't quite accept. coffee commodities have gone down, not up. stuart: that's right. >> we could argue rent, labor costs, other things justify the price increase, personally you do it before the season starts and pumpkin latte starts season for them. stuart: so i'm told.
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john, stay there please. i have something for you, especially in a few moments. john stay there. get back to politics, shall we? bread and butter of this program. the mainstream media blasting president trump for his decision to end daca. okay, got that. this editorial in the "washington post," it reads trump's heartless decision. vice president joe biden also calling out the president in his tweet. brought by parents, these children have no choice coming here. now they will be sent to countries they have never known. cruel, not america. charles hurt, voice of reason is with us from "the washington times." he is also working with fox news. charles, welcome to the program. >> good to be with you. stuart: i was astonished with this, call the man heartless, cruel, cowardice, i don't think that is justified. what say you? >> "washington post" is choir master of politics of the media in washington and idea they would do something like this really reveals why this problem
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persists today and has never been fixed. it is obviously an emotional debate but if you read through what the "washington post" wrote in that editorial, they acknowledge in the editorial that he made the right decision. that it was a justified thing. that congress and only congress has the responsibility. stuart: constitutionally he had to do this. >> absolutely. so at this amazing point where we actually have a newspaper editorializing that we should do something because we don't like the outcome, we should disregard the constitution, and do it via presidential fiat. stuart: it is a deliberate -- this is my opinion, this is a deliberate attempt to divide america further. hive off the hispanic vote, this president doesn't like you. ashley: shamelessly so. stir up anger in the streets. we saw a little bit of that yesterday, but missing the point. we're not kicking 800,000 "dreamers" out of this country. that is wrong, absolutely wrong.
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have congress deal with it properly. >> sadly this has been sort of the modus operandi for democrats for years and decades even. they capitalize on divisions and try to widen them. they play politics with them. stuart: charles, stay there for a second. john already staying there on the right-hand side because i have a treat for both of them. we're all in for a treat actually. mcdonald's is rolling out three, count them, three new drinks today. there is the caramel maciato. the cappuccino and the a mericano. i have samples. ashley: that is a lot of coffee. stuart: my count, what we'll do, taste test each one in order. all of us will rate these coffees. number one is the caramel maciato. gentlemen, raise your cups and taste.
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okay. now i want a rating from each of you on scale of one to 10. 10 is fabulous. drinking it every day of your life. ash, first. ashley: four, going into diabetic coma as we speak. stuart: charles? >> i would say zero because that i can't stand these sweet drinks. stuart: yes. i give it a six, because i kind of liked it. and john,. >> i will go with a five. too sweet. stuart: i'm one likes it most. >> which is a little scary. i can't imagine you with this coffee. stuart: wait, john, just wait. next on the list is vanilla cappuccino. ashley: got it. stuart: that correct? gentlemen, drink. okay. ash? ashley: i'm now dead from diabetes. i give it a five. stuart: five on that one. >> surprisingly better than that one. i would give it a one. stuart: you get a one? >> yeah. stuart: wow. you don't have stock in mcdonald's, do you? no way you do. >> that was a lot lighter, not
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quite as sweet. go with six. stuart: i will give it a six as well. last one, ladies and gentlemen, the americano. this is for me. black coffee? i think so. ashley: much better. stuart: that's it. ashley: i will give it an eight. it is nice. stuart: seems like plain back coffee to me. ashley: yes it is. stuart: you give it an eight? >> give it a 10. so much cheaper than starbucks. stuart: it is. >> give it eight as well. good cup of coffee, i will give it an eight. our collective wisdom americano. cheers. >> international statement that the americano won? stuart: mcdonald's stock on this one. make americano great again. not my line. i stole that from somebody else. thank you, gentlemen for participating in a little fun event there. not like us to do this kind of thing. the head of house freedom
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caucus mark meadows says, house leadership has to get the job done, debt ceiling, harvey aid, tax cuts, you name it, he wants them done. congressman jim jordan, a member of the freedom caucus, he is with us next. in a few minutes president trump meets with congressional leaders , ryan, schumer, pelosi, mcconnell. we'll be right back. americano wins. ♪
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♪ ashley: with hurricane harvey and how hurricane irma the legislative schedule is getting very crowded. last hour, we asked kellyanne conway, counselor to president trump, whether congress can take care of business? roll tape. >> the question for congress, hoping the house will act as soon as today or tomorrow on harvey relief, with the senate later in the week. maybe the house stays through the weekend. it is expected to get all of this done. this is donald trump. if you're a businessman and you're not a politician, you're not of or for in the swamp your entire career here in washington, you're accustomed to
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doing many important bold things at once. that is true for the president. he is ready to sign tax reform into law. health care into law. harvey relief, the budget. certainly continue to move toward building the wall and funding it. many things on the docket. this president is ready effectuate all of it.
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stuart: look at dave and buster's stock down 9%. it is a video arcade/restaurant
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chain. sales will not be as good as expected. down five bucks there. united airlines says profits in the next quarter will be much lower than expected because hurricane harvey, get this, tensions with north korea, cutting down on international travel. united airlines down four there. big day on capitol hill. look who is with us now, congressman jim jordan. welcome to the program. great to see you, sir. >> you too, stuart. great to be with you. stuart: mark meadows leads freedom caucus. >> yes. stuart: he said last night or this morning, putting it to gop leadership, you have to get this done. are you with him on this? get something done? >> we have to get something done. we spent five weeks home that voters are ticked off, appropriately so. i know that would be the case because we haven't accomplished what we toll them we were going to do. that should be our focus and our job.
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obamacare, tax reform, building border, security wall, all the important things we ran on and won on. stuart: will you stand on principle again and reject something which you don't like on ground of principle? forgive me for saying this, i'm going back to obamacare. >> it is good thing to stand on principle. stuart: you insisted making changes to it. i agree you made it a better bill. >> we did. stuart: you moved it to the right, therefore moderate republicans dropped it. we don't have obamacare repeal and reform. -- >> no, stuart. we made it a good bill that passed and it was conservatives who passed it. 32 of the 34 members of the freedom caucus passed it. it passed by one vote. it went to the senate. the problem in the senate, six republican senators voted against the very same legislation they voted for 18 months ago. if one thing ticks off american people, you tell them one thing vote another way when it doesn't count, get elected at election time do something else.
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that is not what we did in the house. the thing we did in the house is make the bill more consistent when we told them when we ran for the job. stuart: paul ryan said you would link the debt ceiling with big harvey aid package. i'm sure you have problems with the debt ceiling deal. i'm sure you want spending cuts. will you stand in the way of that combined deal? >> stuart, come on, 20 trillion-dollar debt, raise credit card limit not do anything to address the underlying problem? even you know that is crazy thing to do. american people know that is crazy thing to do. of course i'm against that. you led off the segment, guy who stands on principle. i think the american people want people in public office who stand on principle. the american people, did we tell the american people that during election, elect republicans to the house, senate and white house. guess what we'll do? we'll increase the debt ceiling and not do anything to address the underlying 20 trillion-dollar problem, anything structurally, anything on spending? did we tell them that? i don't think so. we got elected not to do that
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yet that is what we'll do this month? that is a terrible idea. stuart: which spending, what spending do you want cut, and you would vote against it if it is not cut? >> stuart, we took position last night at freedom caucus, cap spending going forward. get the norm, spending relative to gross domestic product. get it back to the modern historic norm of 18%, government spending relative to gdp get it back there. right now it is 21%. begin to phase it down. that doesn't something to cut now of the says we'll cap it as we move forward. your economy grows. spending can still grow, but it can't grow as ever bigger percentage of gdp. capping spending. that makes sense. families cap their spending. they can't spend uncontrollably and saddle themselves with debt. that is position we put on last night as the freedom caucus took. stuart: president trump is flying to north dakota. he is taking with him senator heidi heitkamp.
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looks like he is going full tilt for democrat support on tax cuts is are you with him on this. >> totally with him, stuart. what is the corporate rate, do you know? stuart: 15%. >> what is repatriation be? how many brackets on personal side, and what are the rates going to be? i'm all for tax reform. let's see a bill. i'm ready for actual legislation. we're for tax reform. i'm for lowering taxes. avoiding this revenue neutral concept which is fancy way of saying tax burden stays the same. you shift around who pays what. in that scenario you know what always happens. corporations do fine but middle-class families typically get the shaft. forget revenue neutral. design a tax code that lowers tax burren and one conducive to growth. put specifics here. what are rates going to be? we don't know any of that. then we can move forward to pass something. stuart: are you absolutely gung-ho to get something done? >> of course. stuart: come what may a tax cut
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bill, no matter what you'll do it? >> there bet be. of course we want to cut taxes. that is freedom. let families keep more of their money, it is good for economic growth. of course i'm for that. stuart: congressman jim jordan, thanks for joining us. i'm not hostile whatsoever. believe that. >> i understand, stuart. stuart: i have to break away for this. i have breaking news. federal reserve chair stanley fischer is stepping down in october, citing personal reasons. the market did react. we were down, then we bounced back. so, not much market impact from that announcement. we're still up 63 points. 21,800 where we are. >> 73 years old. his term was set to expire next june. but not giving a reason why. just personal reasons. stuart: we reported it. no market impact. that is accurate. okay. ad-lib, it says. see bottom right-hand corner of your screen. i'm ad-libbing, sports fans. that is the track of hurricane
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irma. it is approaching miami, south florida, should feel first effects by late, hate saturday. we'll be back. ♪ during our made to move 2017 clearance event, you can do endless online research. or, you can take advantage of our best offer ever on an xt5. don't wait. our 2017 models will be moving fast. you can drive a car... or you can drive a cadillac. come in now before the end of our made to move 2017 clearance event and leave with the perfect cadillac xt5 for your next adventure. choose a low mileage lease on this xt5 for around $339 per month.
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♪ ashley: hurricane irma churning toward florida, now labeled as a category 5 storm. phil keating there in florida city. phil, are people getting out of town? reporter: yeah, they are getting out of town, but before they do, they have to get fuel. this is one of lucky ladies here. look how long this line is. this is one of several gas stations here in florida city, multiple of them do not have anymore fuel left. in fact the manager of this gas station says they will be completely out of fuel in an hour. so there is certainly a growing sense of worry, anxiety, and for some, panic. some people are telling me they're starting to get more and more scared here. governor just ordered up 900 more national guard men and women to serving on friday. all of south florida and central florida are prepping, waiting for irma's expected landfall
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saturday morning early. back to you. ashley: phil keating. it is coming no doubt. we'll have very latest on irma and hear from kevin brady on tax reform. so much more the next hour. stick around. we'll be right back. kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. rethink your allergy pills. flonase sensimist allergy relief helps block 6 key inflammatory substances with a gentle mist. most allergy pills only block one. and 6 is greater than one. flonase sensimist. ♪
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stuart: in a moment we will be joined by kevin brady who chairs the house committee the right the tax code. congressional point man for the president's growth agenda. on tax cut this man has clout. we will ask him what his plan and when will it get done? last week we talked to gary cohn, the demand for tax cut at the white house who gave us an outline of the plan, cut the corporate tax rate, cut individual tax rates, end some deductions used by high income earners. that is a middle-class tax cut
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plan. note the words middle-class. a plan geared towards middle america could attract some democrat support. today the president barnes storms in north dakota and when he flies there he will take with heidi high camp, north dakota's democrat senator. this republican president may get the support of democrat senators in conservative states like claire mccaskill in new jersey and joe mansion in west virginia. the odds of getting a middle-class tax-cut deal may be shifting in the president's favor. kevin brady is next, what is the plan and when does it pass? the third hour of "varney and company" about to begin. ♪
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stuart: left-hand side, the right-hand side, following the market, the dow is up 71 points, the dow reacted to the news stanley fisher will step down next month, recovered a small loss up to a gain of 72 points, left-hand side of the screen the path of hurricane irma, category 5 storm, already had some small islands in the caribbean on track towards south florida where the first effects should be felt on saturday at the end of this week. donald trump is meeting with mitch mcconnell, senator charles schumer, paul ryan, nancy pelosi. we will bring any news that let's bring in art blaffer to talk about the middle-class tax-cut. i will outline it again, lower corporate tax rate, lower individual tax rates and
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clawing back deduc and cutting corporate rate will launch us into prosperity. i want to make sure the president does not give up on the 15%. i don't need any papers except the ones you normally do on deductions, exemptions and exclusions and lower tax rates. what more could you want? it is christmas in september. stuart: it has got to be 15%. >> the house with a 25, now it is 20. i was hoping kevin would be on, your promoting him more than me, my feelings are hurt.
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stuart: we have kevin brady, we are putting a microphone on the good congressman. he's almost ready to come with us.signation of stanley fisher being a positive? stanley fisher is a colleague of mine, really great guy. stuart: i have to say hello to kevin brady on your behalf. >> a big fan of art blaffer, a mentor to me on these issues. stuart: middle-class tax cuts as i understand it, plan is lower the corporate tax rate,
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lower individual tax rates, clark back deductions by high income earners. is that the basics of the plan? >> yes, start with what we want to do which is grow jobs, paychecks, the us economy and leapfrog the economy. not just corporate rate but rate for every business, large or small. that drives job growth and wage growth. it is for families, simplicity, the concept of a system where rates are lower for everybody but we eliminate special provisions for some so people keep more of what they are and. stuart: you are eliminating deductions used by upper income earners. gary cohn said he would not touch charitable contributions
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or private pension plans. >> we are looking at the mortgage and shareable deductions was 5% of americans will itemize the rest, tax relief, we are looking at ways to help home ownership and more charitable giving but we are keeping the child tax credit making it bigger and the college tax credit is important for families getting their kids into school. stuart: the president's political plan seems to barnstormer and sell tax cuts, an appeal to middle-of-the-road democrats from conservative states like heidi high camp, joe mansion, is that his political approach? >> i visited him at the white house, he is in on this and believes you help every american keep more of what they
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earn and grow higher paychecks, this is a winning issue for the country, republican or democrat. i'm pleased he's taking the senator with him to north dakota and hopeful there are some john f. kennedy democrats still left to understand if you lower the rates for businesses and families you grow the economy. stuart: if you get all of this, lower corporate rates for all businesses, individual tax rate cuts, get all of that is proposed do we grow for present? >> we grow faster. i don't know the number but pro growth tax reform, big and bold and permanent so businesses and families, balanced regulation and new markets --
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stuart: tax cuts pay for themselves in the long-term with growth. and and on the business side as well to balance the budget over time. what that brings is permanence and that is something every business -- don't give us something temporary, make sure we count on this, sending jobs overseas,. >> we promised to ask two questions. when will it pass? it has got to be this year to
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be stimulative. >> >> this is an an aggressive timetable. i takes 21/2 years for the reagan administration, we think the economy is starved for this. in my town hall meeting with local businesses they are ready. despite the noise in washington and there are major issues to tackle we are staying on track. >> we have 11 days and when the house and senate are in session you got to get a budget or spending resolution, debt ceiling and harvey relief package. if you do all of that, taxcutting the next big priority above all else. >> redesigning it. stuart: with respect can you do
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that? can you get tax reform? that big thing, jan sat in at the end of the year, it will be straightforward cuts in rates. >> that won't get us where we want to go. coming the rates is like adding supercharged fuel to your old beater of attack scarred. it will run faster for a time but will not keep up with modern vehicles on the road today and competing in china, europe, mexico and canada, we do not just stay up with them but surpass them. i do believe we can do this and we have to do this if we want to be competitive. stuart: kevin brady, straight answer to the question. now back to art blaffer, thank you very much. you were listening of organiza,
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incomes being brought back, the revenue feedback effects will personal income tax rate reduction and get rid of exclusions, very positive, jumpstart this and we will have 4% growth, if that is passed. we will have unassuming it takes effect january 1, 2018. stuart: the stimulative effect surely comes from the lower corporate tax rate. that is the big deal here. >> a huge deal. stuart: if you bring the corporate rate down that doesn't work. you won't get corporations
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bringing back trillions if they are saving a marginal amount from 35 to 25, the big stimulus if you get to 15. >> i agree but the more the merrier. if you bring it to 15, i really want to get o compromise on 25, make less sense to do 25, 15 will assure it but it is better than 35. stuart: the yield on the 10 year treasury is 2.07%, an extremely low level. what is the bond market telling us about our economy and politics? >> there is no inflation. i don't know what the tips yield is. stuart: i don't, i'm sorry. >> probably 0.5 or something. this tells you the expected return on capital, that has not
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shown the sign of a big tax cut, resurgence of economic growth. once it gets up to 3%, you know you're in a boom and off to the races. i am watching that treasury inflation protected security yield, that is the one to look at what is going to happen to the real output growth of america and with the passage of the tax bill it could go up sharply. stuart: you know what we are like when you use jargon like qe 3, a mark of our respect to you that we did not vote him on any of the eight occasions, you are quite a guy. >> i did say.is one from the w
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post, trump's heartless decision. fox news contributor nigel farage. the mainstream media is apoplectic over this immigration division. what does it look like from britain? >> we are supposed to be compassionate and nice and lovely. when daca was introduced the term dreamers was the word that was used. how can any nice human being the against dreamers? i can draw a parallel with what happened in europe in 2015. we were told the people fleeing for their lives from syria and oppression elsewhere were coming across the mediterranean in boats and what she would do his open heart and mind and allow as many of these people to come because we should be compassionate. we were told this by the
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european commission and chancellor angela merkel from germany, who said open as many as you want to send and we find two years down the track terrible problems with integration, massive rise in crimes, sexual crimes all over your. stuart: false comparison. >> don't think you can compare these 8 youngsters brought it with no knowledge of their own, you can't compare them to the migrants who flooded into europe, a false comparison. too harsh. >> it is not a false comparison because what happens is we are told we have to be compassionate. in europe, to be week and allow terrorists to come in and in the case of america to run roughshod through sensible immigration rules. there were 800,000 adults living in america illegally because they came into the usa as children. what does that lead to?
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trafficking of people in america have southern borders and jeff sessions rightly said actually pretty nasty humanitarian situations. this is what the left do, they use the word compassion to win the argument and generally they do. stuart: i want to know about north korea, what does europe think of north korea? europe doesn't play much of a role in diplomacy where north korea is concerned. what is the view from britain of america's crisis with north korea? >> theresa may, british trimester, has spoken to donald trump and degrees we should use what economic or diplomatic means we can to deal with the problem. boris johnson was clear in the house of commons behind me that this was caused by kim's
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behavior, not donald trump's behavior. what is remarkable is we are hearing almost nothing from france, germany, the european commission, it is as if the european union is so obsessed with itself, its own problems, the migration policy i mentioned earlier, the euro zone it has almost withdrawn itself from a diplomatic role on the world stage. we heard nothing from them. stuart: i think you are right. nigel farage, for being with us. check gold, still rising a little, one dollar higher at 1345, part of the flight to safety routine we have been seeing. look at the price of oil, $49 a barrel as we speak, some question about supply of oil or
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production because of these two hurricanes so the price of oil is up, gassed up $0.02 overnight, national average $2.66 per gallon. the spike is slowing down but still with us with a full forecast from the fox news weather center, hurricane irma is heading towards florida. any moment we expect to hear from donald trump meeting with top congressional leaders on both sides of the aisle, news coming and fast. ♪ ♪
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stuart: breaking in to listen to donald trump having a meeting with congressional leaders. >> we will see. no second place. i hope they do, i certainly hope they do. >> thank you. stuart: before we heard from
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the president he was asked, he said quite clearly irma, the hurricane, looks really bad, we are ready, that is what he said. he was also asked about a very short-term, minor increase in the debt ceiling if it is tied to harvey relief, he said we will about it, we will look at it. the conclusive from what the president had to say having met with congressional leaders about taxes. what do we have? is that right? where are we going? ashley: we can talk about anything you want. let me say about irma i was looking at the latest map. has a 5 as we know, 185 mile an hour winds in the middle of the ocean but as we get closer to the keys in southern florida, by saturday i see it is down to a 3. it will be traveling over some land. if there's any bright spot, we won't the 185 mile in our winds
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crashing into southern florida. stuart: wildfires ravaging the northwest, montana, one of the state hardest hit, fire covers 100,000 acres, burned half 1 million acres since july. early september wildfire season starts to wind down but dry conditions fueling the flames later this year. as ash was mentioning we are looking at hurricane irma. it is going from a category 5 down to maybe a category 3 by the time it arrived in florida. bring in adam potts, meteorologist. on that point, down to a category 3 when it hits florida, does that mean windss come down from the current 185? >> yes. hurricane categories are based on wins, 185 mph is obscenely high. it was unrealistic to that
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could last long because it is so uncommon. what we are currently looking at with those strong winds, the system moving 16 miles an hour beginning to approach the british and us virgin islands, the looking at areas of puerto rico, getting those outer bands of rain as it moves that way, no surprise here are your islands across the caribbean and looking at hurricane watches and warnings. the system is expected to run just to the north of puerto rico later today, the same true of haiti before running over the bahamas. you mentioned it weakening. when it runs over land it does that taking the feet and moisture that builds the strength of these storms, you can run with it as you get over the dominican republic you get on the other side and it has fallen to a four so it is we can a little bit. that takes you into saturday morning, still by sunday morning or so we are looking at a category 4 hurricane pleaded won't be until it makes
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landfall gets a little farther that it weakens to category 3 status so still possible if it hits south florida it does so as a category for but look how wide this is and this is where it gets difficult. there is a large area, could it come up on the westside? it could. can come up on eastside? more and more looking like that is what is going to happen but that could shift. we are watching closely. it is even possible you see how wide this is, it could turn and not make it is a landfall into the carolinas. we have questions that need to be answered in the next couple days. stuart: a good update, appreciate that, thanks for your input. ashley: at my mother's house -- stuart: my daughter is leaving her house tonight, driving to tennessee. check the market, we are up 62
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stuart: holding onto a 60 point gain, florida bracing for hurricane irma headed towards miami. shortly on this program we will take you to miami, they are heading north. now we are joined by congressman steve king of iowa. tax reform, got to talk tax reform. we talked to kevin brady earlier. he suggested a good political argument from the president to get some democrat support in the senate for tax reform. you think that is a good idea? what tax reform will we get if the democrats are on board? >> democrats idea of tax reform historically has been tax increases. remember the text from bush xli was able to negotiate, we got tax increases but not spending cuts but that is what they are
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bend to do and a handful of them over there, we lost some blue dog democrat, used to be 53 of them and now only three of them but they were the middle of the centrists that wanted to balance the budget by cutting spending and increased taxes even the most conservative. stuart: you don't have a problem getting support from heidi heitkamp or any other moderate, no problem with that as long as it is not a tax increase. >> hopeful for tax relief, the highest corporate income tax for than any developed nation in the world. and abolish the irs, you know that. i want you to join me in celebrating.
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stuart: why can't the republican party pass tax-cut by itself. >> we should easily be able to do that. one is the filibuster in the senate but the other piece, people who once more and their nuances and hold out for the last because have leverage. everyone throws their canoe anchor on board. and the first week in january and pushing our agenda for eight years under obama, another two when nancy pelosi was walking it and splitting hairs on policy among ourselves and it is time to join together and get things done. and those things should be easy, >> democrats say they could attach the dream act, an executive order, they could
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attach the dream act to anything including the debt ceiling. what is your response to that. >> in the house of representatives they don't get to do that. they don't have the majority, don't control the committees, the floor agenda or the rules committee. i don't think they should be very robust in their promises in the house. there is some leverage they might use but the dream act is unconstitutional. president obama violated the constitution, donald trump as candidate from multiple times promised he would end the dream act, we expected that to happen january 20th. we might revisit it. it was kind of a stalinist decision on the part of donald trump to offer to cut the baby
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in half and toss it all to congress. it will divide the republican conference. stuart: i did not know that -- i felt the republicans ran the senate and house and democrats do not and it is not for them, it is not there call. >> i only put a little caveat in of senate rules to give a window of some kind i might not understand but of all i do understand, what you said is precisely right they are not in the majority of house or senate and don't get to decide what they attach to anything unless they have backdoor leverage that is so high. i'm not sacrificing rule of law, i won't advance amnesty. here is something pretty interesting. the house couldn't have a full repeal of obamacare because according to the leadership it would split or divide the
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republican conference and they were not willing to divide the republican congress so the bill passed in every congress and obamacare was passed the full repeal couldn't get a vote in congress, they do not want to divide republicans. the dream act divides republicans but sounds like they want to set it up on the fast track. this is the ultimate virtue signal, backup and look at the rule of law, the constitution. what happens when you reward lawbreakers? stuart: just get a tax cut. congressman king, thanks for joining us. fox news contributor mark season, good to see you again. >> always good to be on with stuart varney. stuart: let's not get carried away. the flattery is the modest milk of television, don't ever stop. my point i have been making, an
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opinion, i think the chances of getting a tax-cut package done are improving because the president is looking for democrat support. i think you will get that support for heidi heitkamp, chances are improving, what say you? >> i agree with you 100%. very smart to be taking the tax-cut campaign to north dakota with heidi hyde camp who is a vulnerable democrat in a state donald trump won by 36 points in the last election and it is smart for this reason. what we learned in the obamacare repeal fiasco is 52 senate republicans are not enough to get 51 votes for donald trump's agenda in the senate so he needs to get some democrats to make up for these republicans will jump ship at the last minute like john mccain did and a couple of others. during the obamacare debate he let these people off the hook because republicans announced
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we are doing this with just republican votes. 10 senate democrats running in states trump won five in double digits were completely let off the hook, we will work with the president on healthcare once he decides to work in a bipartisan way. he is coming out saying we want these democrat votes, doesn't mean he has to make concessions to chuck schumer but he is putting screws on joe mansion and joe donnelly and states -- what would be the reaction of democrats in new york, new jersey, massachusetts and canada. if we end the deduction of state and local income taxes. >> they will scream. it hits the rich. >> not hitting the rich and less than an overall tax
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package. but both a blessing and curse. which was the most controversial part of this holding it up in the republican caucus. what a final tax package will look like him. we will never get to donald trump's 17% corporate tax rate. you won't it to 20% but looking at 22%. we will never get the individual rate of 5 we want it. more opportunity to come together because there's less disagreement, >> going for democrat support.
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next time you have an expanded segment because you like our show so much guaranteed. be careful. thank you, appreciate it. now this, democrat senator bob menendez in court on bribery charges. he could miss key votes during the trial. judge andrew napolitano who you just heard guffaw from the sidelines. judge napolitano: what a lovely necktie. does that expand my on airtime? stuart: the judge in the trial in new jersey said you will stay in the courtroom, you will go through the entire proceedings. does the senator have to obey him? if he obeyed the judge he misses important votes in the senate.
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judge napolitano: he will obviously miss important votes in the senate. does the judge have the right to compel the defendant who is out on bail, in this case bail is personal recognizance, personal promise to return. he could hardly hide. does the judge have the power to compel him to be in the courtroom? the answer is yes he does. that he have the power to compel him to be in the courtroom when he otherwise wishes to be voting in the senate? not yet resolved by the courts. there was a clause in the constitution that insulates any senator or congressman, any governmental interference with going to and from casting votes in congress. stuart: it has gone to court. he has challenged this order from the judge that you will be here, to challenge that. we don't know the result of that challenge. judge napolitano: he has lost that challenge. what would happen next is he would define the judge, go to
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the senate and vote and see what happens. with the judge arrest him? if he is arrested that will be challenged and will be appealed to the third circuit. he will -- on appeal. the judge should get off the case. stuart: odds are he misses key votes. >> agar he does. agar as well if he is convicted he is not replaced by chris christie. if convicted he will be placed -- replaced by chris christie's successor, probably democrat phil murphy. the process for expelling him, gerri the harrison williams, lived in a jersey at the time, was convicted of a similar crime, testing but a similar bribe. it took six month before after conviction before he left the senate. stuart: sorry about the short --
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judge napolitano: lovely suit today. stuart: serious stuff i'm doing. hurricane irma category 5 headed for florida. we will head there as well, we will go there next, last report, gas running out in south florida and we learned of mandatory evacuations in broward county. very busy day for the president, tax-cut push roles on. met with congressional leaders, he gets on air force one with democrat senator heidi hyde camp, going to north dakota giving his big speech on tax reform. a whole lot going on and the markets rallying too. ♪ got to testify ♪ ♪
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nicole: i am nicole pedallides. watching the cruise lines carefully as we await category 5 hurricane irma moving through the caribbean potentially making landfall in florida. royal caribbean down a buck, carnival down $.30. the last two trading days royal caribbean down 5% on worries about this. we are looking at the data across the board, retailers, walgreens, more than 10%
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exposure, very high, taking a look at restaurants, dunkin brands was up and wendy's, those two from ed data watching the effects of irma as she approaches. liberty mutual stood with me when this guy got a flat tire in the middle of the night. hold on dad... liberty did what? yeah, liberty mutual 24-hour roadside assistance helped him to fix his flat so he could get home safely. my dad says our insurance doesn't have that. don't worry - i know what a lug wrench is, dad. is this a lug wrench? maybe? you can leave worry behind when liberty stands with you™. liberty stands with you™. liberty mutual insurance.
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stuart: google's street view is going to get sharper. they updated the cameras they have been using, first time they have done it in eight years, new images reportedly so clear you can spot small details like store hours on the signs outside a business, google hope this makes street view more useful. this update is raising privacy as it would. ashley: can you see through the windows? stuart: apple and amazon want to take on hollywood, joining the race for the james bond film right. warner bros. a unit of time warner looks to be the front runner, the bond franchise is valued from $2 billion to $5 billion. let's get back -- donald trump heads to north dakota where
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hillary von is. this looks to us from a distance, this speech is about courting democrats. >> correct, donald trump is not just counting on conservatives to get tax reform done but following through on his promise to target vulnerable democrats up for reelection in november. one of those at risk is united states senator heidi heidi heitkamp hopping aboard air force one with donald trump and headed here to her home state. the white house tells us donald trump is going to turn up the heat on democrats. they released part of his planned remarks in which he will save democrats continue their obstruction, don't want to bring back your job, raise your pay and help america win, voters should deliver a clear message, do your job to deliver for america or find a new job. this is the president's second
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stopped to tell american companies and american taxpayers keeping money in their pocket is a top priority. this received criticism from both sides of the aisle for being light on specifics but kevin kramer says those critics are missing the point. >> the beautiful thing about ashley: the tax code does not require specific. the problem is is thousands of pages long. >> reporter: donald trump will speak to a group of 700, the fourth largest refinery in the nation, join by gary cohn. trump's tax reform plan is popular in north dakota, 72% of people here support it. stuart: that is a big margin, 72%. hillary von, thanks for joining us. we are joined by larry elder,
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nationally syndicated talkshow host. there is no way donald trump will have a barnstormer tax cuts in california, is there? >> i don't think that was california wants to raise taxes on rich people but polls show most californians feel they are overtaxed and when asking what they would like to cut they are not so overtaxed, talking out of both sides of their mouth. what donald trump is doing, it is not uncommon in a tax cut, john f. kennedy text everybody, bipartisan, he had to deal with the majority of democrats in the house, he got victory after victory in terms of tax cuts and george w. bush had 12 democratic senators courting the first tax cut and got two the second time, it is not uncommon for democrats and republicans to join the tax-cut. stuart: the president is
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calling it a middle-class tax cut, that is the way gary cohn called on this program, a middle-class tax cut. it doesn't favor the rich. you could take away some of the benefits in the tax code, take them away from the rich, that makes it more tolerable to me democrats like claire mccaskill and heidi heitkamp and a senator from west virginia. >> yes but any kind of tax-cut will disproportionately benefit well people. the top 1% pay 39, almost 40% of federal income taxes. when i hear somebody say tax cuts for the rich, rich people pay a lot of taxes. any tax cuts will benefit those who pay a lot of taxes. that is the way it works. with one what about california? is it still as democrat as ever? >> there isn't a single democrat elected statewide,
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even bill marr said he felt overtaxed. maybe at some point we will see -- rethink their policy. stuart: not in my lifetime. i hope to live 20 years, there is no way they are -- no way it will go republican but i can't imagine. >> we are running out of money, probably $1 trillion unfunded liabilities, the pension plans are growing, 15,000 people collect $100,000 every year who are former government workers. you can't keep going, you are running out of money, we are running out of money and i believe they voted in california at some point to rethink their assumptions. stuart: you sound like margaret sasser. the problem with socialism is you run out of other people's money. >> we could use the iron lady in california. stuart: new york too. thanks for joining us.
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mandatory evacuations in parts of florida already, long lines at gas stations. we will take you there shortly. check the big board, up 50 points on a dow industrial, 21,804, we will be back. ♪
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>> phil keating, hurricane irma preparations underway. the gas station with a long line and they are running out of gas. what is the latest? >> majority of gas stations in florida city have no gas at the pumps. if you like waiting in long lines waiting up to an hour come down to florida because seems this is happening all over south florida as far north as tampa, orlando and gainesville. people needs two things, gasoline, get out of dodge, and bottles of water, cases of bottled water. can't find them on any shelf. there is hardly a parking spot available, people are emptying shelves lose went to the grocery store where i live in
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miami, couldn't find any bottled water, everyone is talking up, taking batteries, everything you can. there is a growing sense of anxiety and in some cases even panic with people saying they are scared, have seen what pictures look like and what happened in texas and don't want it to happen to them. stuart: what are you going to do? you have a home in miami, will you retreat to your home and watch it blow past? >> i shuddered up my home, in one window, my wife and two kids, to get to st. louis, stay with my sister. and and major damage. >> you are a good man and look
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forward to your reports. more varney after this. who's he? he's the green money you can spend now. what's up? gonna pay some bills, maybe buy a new tennis racket. he's got a killer backhand. when it's time to get organized for retirement, it's time to get voya. . . . .
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stuart: i have one minute left on this program. before my colleague and friend neil cavuto. the two of us have been boeing backwards and forwards of tax cuts. neil does not approve of my stand on tax cuts. i say something is better than nothing. neil: no, no. what happens is then, you will settle for anything. you're right, it is better than no movement at all but i'm reading in between the lines and great guests you're chatting with, your great questioning and i'm coming to the conclusion this is being pared back to entice democratic votes, to help make sure it gets passage. it just might as a result. it will not be the game-changer, the tax reform a lot of people were thinking. so you might accept a little less than what should be the
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case. stuart: yes. neil: but i demand more. stuart: i have 10 seconds left, okay? something is better than nothing obamacare. it is yours. neil: i hear where you're coming from, my friend. i would love to be wrong. i don't think i am but i'm reading all the news you're break left or right with these guests. of the brady telegraphed to you, the tax cuts on upper end, to those folks that didn't expect it, that was well-telegraphed. but now this idea, he kind of danced around, paying for them. there is the 10-year budget window. they can't worsen the budget next 10 years to do this. he is a obviously a slave to that. he has to adhere to those principles. by definition it's a meager tax cut. it beats none at all, you're quite right. if thi

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