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tv   Mornings With Maria Bartiromo  FOX Business  November 10, 2017 6:00am-9:00am EST

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rates and they see the rallying stock market, you've also had some kind of tax changes in india that have pushed down demand for jewelry in some cases and demand fall on the eight-year low but gold remained pretty resilient, some comes from geopolitical uncertainties or fears that stacks are rallying a little too far too fast and you also see central banks continue to go buy gold and little bit news from the tech sector using gold. lauren: riva, thank you so much, we hope you have a wonderful weekend. here in the u.s. we could potentially with a gain about 75 points today be higher for the ninth week in a row. we do have a slight selloff for u.s. equities today and global selloff based on what happened with senate bill yesterday. cheryl: that's it for all, we do want to say thanks to veterans, good morning to all of you, good morning to our own maria
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bartiromo, good morning, maria. maria: hey, there ladies, dido on veterans. thank you so much. good morning, everybody, thanks for being with us. happy friday, i'm maria bartiromo, it is friday november 10th, top stories right now 6:00 a.m. on the east coast. getting tough on trade, president trump attending asia pacific economic summit. latest of his tour throughout the region delivering stern message saying everyone in our country will no longer be taken advantage of when it comes to trade. >> we can no longer tolerate these chronic trade abuses. i wish previous administrations in my country saw what was happening and did something about it. they did not, but i will. maria: busy day for the leader to have free world. although no formal meeting is scheduled. president trump could bump into russian president vladimir putin who is also attending apec
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summit, let's get the latest from vietnam this morning. tale of two plans, the senate releasing highly anticipated tax plan, one of the main differences the timeline to cut the corporate tax rate. we break down the plan coming up this morning. market this is morning looking like, this futures indicate august lower opening for broader averages after selloff yesterday, major averages looking to look down, 21 points lower on the nasdaq. in europe this morning, take a look at indices, down across the board. cac quarante down a third of a percent. in asia overnight, stocks were mostly lower at the close. nikkei average worst performer there down almost 1%. it is freezing, apple's new iphone 10 facing problems dealing with the cold weather. what you need to know as technology titan promises to fix and warm things up. plus trouble for disney, lackluster earnings, for issues for espn causing concern for investors. new hope, though, how the
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company plans to use to get back on track. all the stories and joining know talk about it fox business dagen mcdowell, the wall street journal editorial page editor james freeman and kelly&company managing director kevin kelly. happy friday, everybody. dagen: good morning. big guests coming up. no offense james and kevin. [laughter] kevin: well the guests have a lot of opinion on money and tax policies and whether they are going to get done by this year. we have been promised that it's going to get done and they are backing that up too. think think it's going to happen. dagen: a lot of republicans have opinions about where we should live, how many kids we should have, how many -- telling us how to live. you want to reform, you get rid of all the handouts to industry, james, right? >> i couldn't agree more, but let's look at -- i think your going to get a deal. you're going get a trillion and a half over ten years, better
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incentives, is it perfect, no, i wish they should forget all the details about how many kids we have and so forth. maria: are they raising -- are they raising some people's taxes to pay for corporate tax cut? dagen: yes, they are. maria: they are raising our taxes to pay for the corporate tax cuts? >> well, the people of new york and new jersey voted on tuesday for much higher taxes. maria: they sure did. >> it was not even close. they spoke overwhelming to say we want higher taxes so it's a tougher argument today than it was monday but every income level is getting a tax cut. i know specially in the high-nend this area, people are upset it's not a better deal. over all, even the top 1% is getting a rate overall tax cut under this plan even if you don't count the corporate side. of course, that's where all the growth is coming from.
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more job creation, lot of positives here. maria: tax cut or tax increase, okay, we will talk about that. [laughter] maria: that's all coming up this morning. we are talking tough on trade, president trump delivering a defiant message to leaders gathered at an asia-pacific summit in vietnam this morning say the u.s. will no longer tolerate chronic trade abuses, watch. >> we are not going let the united states be taken advantage of anymore. i will make bilateral trade agreements with any indo-pacific nation that wants to be our partner and will abide by principals of fair and reciprocal trade. what we will no longer do is enter into large agreements that tie our hands, surrender our sovereignty and make meaningful enforcement practically impossible. maria: also attending the summit russian president vladimir
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putin, the white house now say that is the two leaders will not have a formal sit-down meeting. during the summit they acknowledged a less scripted encounter is still possible. to weigh in former ohio executive leader now executive at the american university school of public affair capri, adviser to scott walker and mitt romney ed. capri good to see you. ed, good to see you, thanks for joining us. what do you make of what you're hearing from the president in asia this morning? >> it's interesting when you listen to the words that he utilized. he talked about i will engage in any bilateral agreement, so you put this in the context, what he's really talking about is united states, you know, withdrawal from transpacific partnership. so i think that it's really necessary when you take a look from the perspective of where i come from, i'm from ohio, ohio voted by 11 points for now president trump, you know, just a year ago yesterday.
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one of the reasons why was because of tough talk on trade. so i know that there's, you know, concern about the dance that president trump was doing with president trump xi of china yesterday but really what he said, look, you know, the previous leaders of -- leaders' fault, but we are step get away from the larger multilateral trade agreements like tpp, promise that is middle america really pud their faith on president trump about. maria: ed, what about that? 250 billion-dollar deals that the president has announced already between chinese and u.s. businesses, there's that as well while he's talking about pulling out of things like tpp which is one of the things that drive it is left nuts, they wanted the u.s. in there. >> i think what you're seeing
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the president do is take a position of where the american public is. not only free traders but they believe in free trade and the more he can emphasize the second half of that that the deals are fair and right for, we are not being overcome by bad deals, i think he will do extremely well with the position he's taking. it's certainly where the american public has been for quite some time now. >> ed, james freeman with the wall street journal, i'm wondering if you have looked at the -- at the sort of situation this week where he's talking about his great chemistry with xi and then he goes to vietnam and he wants to talk tough about trade, should we be worried about the signals he's sending to friends in the region when he's seeming to have such a wonderful relationship with a dictator who runs china? >> i think you make too big a deal of that quite frankly.
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i think he's giving a consistent message. but i think he's sending a very clear message. it may look contradictory country to country but he's been consistent with the message. >> go ahead. kevin: capri, i was going to say you started off the segment how last year a lot of the people in ohio were voting for donald trump solely based on the trade and getting fair trade and not being taken advantage of but also this -- the republicans and donald trump promised tax reform, health care reform, how far -- what is it like down in ohio right now with what's happened this year so far and what hasn't happened including tax reform? >> , look, ohioans and americans
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are really frustrated with the fact that, you know, inside the beltway is where i sate this -- sit this second, i was in ohio for ten days. people at home are really frustrated with the lack of the ability for democrats and republicans alike to govern, you know, in washington. particularly those that put their faith in republicans in the last election because they are saying, you have control of executive branch and legislative branch and none of it is happening. a general frustration on two fronts. number one, people assuming republicans were going to do more and that hasn't happened and two, frustration amongst most of the american public, myself included that there is an unwillingness for democrats and republicans to work together that's more about, you know, red shirts versus blue shirts and not about solutions for america and people are fed up.
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that's being reflected in the polls where both democrats and republicans and their, you know, favorability ratings and recent polls are both in the 30's, we need to do better. maria: let's talk about the two tax plans because the senate released framework for the tax overhaul unlike the tax version, the senate's proposal calls for keeping 7 brackets in place and lowering individuals. they would have gotten to 37%, still holding that out there. preserve the popular home mortgage interest deduction and house version calls for cutting corporate tax rate down to 35% but it's not going to take effect until 2019. treasury secretary steven mnuchin told me yesterday if businesses have to wait a year, it won't curve intention to invest. watch this. >> as soon as we get 20% rate, the better it is for the economy but the house and senate have having to look at how we pay for all of this including a major
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focus of the president, his middle income tax cuts. right away is better than a year, but a year is better than a longer face. maria: what does the panel think about the senate plan, kevin, dagen, james. >> that's trouble specially for political future. if the republicans want to hold the house and they want to prevent the impeachment of long-term, long-term, you want to get -- dagen: i think the market sold off on the fact that the senate plan is different enough, it doesn't look like it's going to get done by the end of the year, it'll get kick intoed next year, one-year delay wouldn't mean as much. also really quickly, 100% expensing for businesses in the senate plan would be immediate,
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the wall street journal editorial page points that out. it's very valuable, though, against higher taxes, so that would help offset a one-year delay in the corporate tax cut. so i think that the market reaction -- maria: big deal. >> remember not all businesses are capital intensive, so you want that rate -- kevin: they promised that repeatedly. maria: i asked about that. we have a sound bite from steven mnuchin because i asked him about carried interest. ed, final word from you, your key on tax plans? >> both plans are looking strongly at small business tax cuts, that is as important as never made much sense to corporations, big business gets a cut and small business does not. most of our economy is driven quite frankly by small business, that's where the jobs are going to go, that's where the wages are going to increase and that needs to be kept in that total package. maria: we will leave it there, good to see you both, thank you so much.
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we will take a break, disney the story markets this morning, releasing details of much anticipated streaming service on heels of huge news of star wars franchise, investors are looking for good news after the company came short of estimates last night. back in a minute ntages. the smart ones look to fidelity to find them. we give you research and data-visualization tools to help identify potential opportunities. so, you can do it this way... or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just $4.95 per online u.s. equity trade. fidelity. open an account today. ♪
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♪ this holiday season, families near you need your help. visit redcross.org now. i am the proud father of aeness very strong little girl named adelaide who was diagnosed with infantile spasms an incurable and debilitating form of epilepsy. it's been a devastating journey that has robbed my baby girl of normal development. that's why i have launched the my shot at epilepsy campaign and i'm asking you to join me. take your shot at the hamilton pose, donate to help us find a cure, and lastly, share it on social media. this is our shot to take. learn more at: myshotatepilepsy.org maria: welcome back, the department of homeland security issuing a new warning about
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armed drones. cheryl: the department of homeland security warning about threat op weapon newsed drones, chemical tax and the continued targeting of commercial airliners, they say that terrorists are becoming more interested in attacks by using unmanned drones here in the united states and other western countries. president trump making these remarks earlier in vietnam. >> as i have said many times before, all civil sized people must come together to drive outer risks and extremists from our societies, stripping them of funding, territory and ideological support. we must stop radical islamic terrorism. cheryl: well, another headline this morning, alabama senate candidate roy moore says forces are evil are behind recent allegations that he had sexual contact with a 14-year-old girl. judge moore lashing out on twitter against the liberal media, washington post reported
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the story after the woman came forward. alleged encounter happened in 1979 when moore was 32 year's old. the white house weighing in, if the allegations are true, then moore should resign. well hurricane-ravaged puerto rico was struck with major power outage sending san juan in the dark, transmission line failure that left thousands more without electricity. the falling line replaced. we are waiting on jc penny to report earnings before the market opens. they have slashed 2017 profit and sales forecast. company saying it had to give huge discount to get rid of excess inventory. the stock is down 720% so far this year, maria. those are your headlines.
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maria: the hunt is on for two of three inmate who is escaped from a tennessee prison. officials have captured one of the men who broke out of prison wall. we have the details next. stay with us "volatile markets." something we all think about as we head into retirement. it's why brighthouse financial is committed to help protect what you've earned and ensure it lasts. introducing shield annuities, a line of products that allow you to take advantage of growth opportunities. while maintaining a level of protection in down markets. so you can head into retirement with confidence. talk with your advisor about shield annuities from brighthouse financial established by metlife.
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maria: welcome back, the wallet disney company releasing earnings. many investors calling the numbers less than magical. lauren simonetti with all the details. lauren: double missed unfortunately for disney. revenue fell 3%. you know, they thought declining results in three of four main business segments, so the standout would be the theme parks, right? let's talk about the streaming service that is coming in 2019
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first, where a lot of analysts and disney is quite bullish. what they will do is air tv series based on some of their hits, star wars, high school musical, morgan stanley actually saying that this service could see 30 million subscribers in the next decade. obviously that pails in comparison to netflix but great competition for netflix. espn is a major problem for disney. sports program costs are rising for them as more companies are cutting cable cords so this is a problem, that's why they have a new digital offering that they are announcing called espn plus and debut in the spring, digitally you can get sports highlights, a lot of people like that. more reports of more layoffs at espn reportedly 100, that should target sports center and a couple of words on star wars, the trilogy expire in 2019, they are expanding it and when you
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expand it you get more followers, more toys and games and rides that are linked to the franchise. as for the theme parks, we saudis any world closed for two days, so rare for them to do in orlando after irma in september and they did take a hit, 100 million-dollar cost but still the theme parks -- socials the bright spot. kevin: a whoa null -- a whole new trilogy. [laughter] >> i was watching the earnings and the stock went down significantly when they released number. but when the minute bob iger got on the call, he turned investors and showed that he was going to be aggressive, he was talking about espn plus, that's been a big, big question for investors, they want to know how are you going to stimthe losses at espn and he came out and hit it on the head when he talked about the espn subscription service. they acquired ban tech and they
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are getting aggressive, they are looking at get ago sets possibly from 21st century. lauren: no mention on the call. kevin: no mention of that in the call because apparently -- if he wasn't going to be more aggressive and all deals were off, he would have let shareholders know. so i think it was pretty interesting that the stock immediately turned around because another question out there is succession plan. he keeps renewing, exactly. so -- maria: they want him because he has done a great job. kevin: that's another reason the stock was up after hours. he got on the call, it doesn't seem that he will be going anywhere for a long time. >> is part of disney strategy for espn to get back to just sports, was there any discussion of maybe too much politics, maybe too many people pushing social agendas on that network? lauren: as in jamil hill. dagen: she's an exclamation point on ongoing problem for the
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network. lauren: yeah. maria: they are talking politics all of the time. lauren: consumers are sick of it. one of the many reasons why we are increasingly cutting the cords. espn was the reason you had and paid for 200-dollar bill. disney and iger responding with espn plus and other digital moves they are doing. we leave it right there. lauren simonetti. take a break. when we come back, winter is coming for iphone 10, that's for sure. new details on how iphone is dealing with the new iphone glitch. back in a moment.
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>> economic growth has reached 3.2% and going higher, unemployment is at its lowest level in 17 years, the stock market is at an all-time high and the whole world is lifted by america's renewal. maria: checking market action this morning. futures are extending the losses yesterday, dow industrials set to open down 40 points, nasdaq down 20 points right now. negative tone in europe as well with the exception of the dax index, it's up about 3 points. ftse 100 in london and cac in paris are down. in asia stocks mostly lower. shanghai composite the one exception. up just a fraction in china. japan the worst performer down almost 1%. a massive manhunt underway in
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tennessee after three inmates escape from jail. one has been caught, two others dangerous criminals remain on the run, very latest on the search coming up. and then the i stands for issue. what the company is doing to ease their concerns. are you hungry for amazon? details behind the company's plans for pop-up stores in whole foods. we have the preview of the highly-anticipated film just ahead of your weekend. first, though, this the senate released highly-anticipated plan to overhaul tax code. like the tax plan they will drop corporate tax rate to 20%. however, it would be delayed until 2019. they won't faze that in till a year. i spoke with secretary steven mnuchin about the importance of lowering the corporate rate. >> i had the opportunity to travel on the campaign with the president last year and literally met with hundreds, if not thousands of business people, big business, small
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business, and the two things we heard on the campaign were regulations and taxes and the president is 100% as am i that if we give u.s. business a fair level playing field that we can compete better than anybody on the world, and when you have a tax system that incentivizes moving jobs offshore, that's not consistent with what we want to do. and this is all about bringing jobs back here and making this competitive. i think as you know, in the campaign the president wanted to have a 15% rate, we started at 15% rate, the president got comfortable, 20% was the right balance we could afford, we are sticking with 20%. maria: 20% rate is critical even if it's a year later? >> again, we would rather it sooner by we would work with house and senate with the
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rollout. maria: we have seen a real recession in terms of business, they have been sitting on cash, you think they will use this extra money from the tax cut plan and say, okay, now i can actually put this money to work in terms of buying, you know, investing as well as creating jobs, that's what i'm trying to understand how you get to job creation? >> sure, there's no question there's trillions of dollars sitting offshore, on the international system. when we have deem repatriation and they pay a one-time fee, they are going to bring back the cash, that there's no question about. when we create a level playing field that our tax system makes sense and competitive to the rest of the world, we think combined with expensing that money will be invested here. maria: joining us right now to talk more about it wall street journal jon hilsenrath. jon, what's your take on this plan, good morning to you, we see that the individual side of the tax cut plans were more complicated but pretty straightforward on the corporate
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side. 20% corporate rate, 25% pass through and a small fee for repatriation. >> i agree, maria, you know, it's interesting that the administration is really counting on the corporate side of this tax overhaul to lift the economy but it's on the individual side where they've got a lot of challenges, there's disagreements in the house and senate on what the top rate should be, there's disagreements about what you do with state and local deductions, there's disagreements about what you do with medical expense deductions and they have a lot to reconcile over the next -- over the next couple of months. on the individual side to get this thing done and, you know, it's going to be a real challenge, i think, for them to get there. kevin: jon, it's kevin kelly. one of the talking points coming out of the democratic side is the timing of this is not appropriate because corporations are hitting all-time highs on the stock market, there are corporate profits are at all-time highs, what is the
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argument and can it play out that should we get corporate tax cuts to the 20% level that it will translate into jobs because the left is still upset about buybacks and increased dividend from the money that they got from george w. bush's tax cut. what do you think about that? >> well, the argument is that the high corporate tax rate in the united states makes it uncompetitive on a global basis. you know, we have a 35% top rate in the united states, but then we also have a lot of breaks that allow the companies to bring that rate down, you know, rates in places like ireland are much lower than that, closer to 12%. the idea that if you equalize the u.s. tax rate with other countries, then companies have more incentive to expand and invest right here in the united states. you know, the challenge for the administration from a political perspective is how do you sell
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that, you know, what most americans are saying, what's in that for me, the democrats are going to attack them, you're giving money away to companies, how does that trickle down so to speak to individual households, it has to happen by companies investing more and by them turning around and hiring more. in terms of stocks are at all-time high. you know, i think that the argument that the administration would be making right now, we are eight years into an expansion, the big question is how do you keep it going, how do you keep what's turned in to be a pretty long lasting recovery going for a few more years. >> jon -- dagen: i want to add one thing before you ask your question, the democrats lose the right to complain and moan and whine about this tax reform package because not one of them is -- is putting a finger on this.
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they lose the right to complain about it and -- maria: they don't want to participate. dagen: state and local tax deduction as you pointed out in the break is going away in blue states because they won't work with republicans and that is the end of it. maria: yeah. jon: dagen, can i -- >> the train left the station or is it possible now finally blue state democrats would say, okay, we are willing to negotiate how to grow the economy and try to save our deductions? jon: i don't think republicans are going to get many democrats working with them. you might get a senator or two, particularly some who are up for reelection who are willing to do it but i don't think you'll get a lot of them. i think what they would say is, their analogy would be what happened with the health care overhaul, republicans refuse today work with them on health care and come up with their own plan and now we are stuck with this health care system that, you know, that's in a state of
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disrepair. i think one of the risks that republicans take is the same risks democrats made on health care. if they do this just on a party line basis, you know, what's going to happen if democrats come back and they are in power in a couple of years and they say we want to redo the whole thing, we don't like the way they did? maria: it's a good point. dagen: really quickly, the math is tricky on the senate side, the graveyard for the obamacare repeal with the allegations against roy moore that election down in alabama in december 129, you have john mccain who repeatedly had shown willingness to give a thumbs down on anything president trump gets behind. math is very tough. maria: another issue -- jon: on tax reform too. dagen: that's what i'm talking about. maria: that's what she's talking about, jon. jon: right. maria: kevin brought up carried interests, this deduction hasn't really been a focal point about this plan. i want to get your reaction.
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jon: okay. great. >> this is a highly-interesting issue to a very small part of the population. now the president said on the campaign that he wanted to change the rules for hedge funds and carried interests, the house that proposed going to three-year holding period. i think that's a big step in the right direction. maria: what do you think, jon, will we see any change here, should there be a change in carried interest deduction? >> well, you know, it's puzzling because the president did say there should be and they haven't done anything on it. i haven't gone through senate bill, but i don't think it's in the senate bill either. maria: it's not. kevin: it's not. jon: you have to wonder, if they haven't put it in the house bill or senate bill, are they going to do it? i will say this, they need money, there's trillions of dollars of tax cuts they are trying to get through and they only have a 1 and a half trillion dollar bucket to work
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with. you have to wonder why they are not going after that when they can get revenue out of it. kevin: gary cohn has talked about it that they will get rid of carried interest and highly political issue on the campaign trail that for now they don't include it or address it and another talking point against them to get it done. maria: this is the reason that barack obama use today say pay your fair share. that one rule. jon: just the viewers understand what the carried interest is a rule that allows hedge funds and private equity funds to be taxed in a much lower rate than say individuals are up as high as 39.6%, taxed capital gains as low as 15%. >> taxes and investment income because that's what it is. maria: okay. okay. jon hilsenrath good to talk with you, sir, thanks so much. jon: thanks a lot.
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maria: alexa in aisle 7, that's what you might say when you head to whole foods. the details ahead. the iphone 10 freezes when it's freezing. apple is working on a fix to stop the new phone from locking up when it gets too cold. all that coming up. we give you research and data-visualization tools to help identify potential opportunities. so, you can do it this way... or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just $4.95 per online u.s. equity trade. fidelity. open an account today. ♪
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maria: check markets, futures indicating a lower opening. this is the low of the morning. down 60 points on dow jones industrial average. 20 points lower on the nasdaq. a couple of names that we are looking at is hertz, car rental company beating profit expectations, higher revenue, better pricing offset cancellations due to hurricane harvey and maria. hertz shares closed down.
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the retailers third-quarter earnings beat estimates, sales decline more than expected, hurt by discount store nordstrom rack. one of three men that escaped from tennessee jail has been captured. cheryl casone with the entire story, cheryl. cheryl: police in tennessee apprehending one of the three fugitives yesterday. 20-year-old dylan escaped with two other men who remain on the run this morning. investigators say a family member helped coordinate his surrender, ferguson faces charges in connection with a death of a man in 2016, manhunt again still underway for two other suspects, well, apple's new iphone 10 apparently doesn't work very well when the temperature drops to about freezing level. the company says it's working on a software fix to take care of the problem which causes the screen to become unresponsive for a few second. it's not clear what the exact issue is, one tech website says
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it's pretty rare for apple to acknowledge a problem so quickly. shares down so slightly, about a quarter percent. amazon taking advantage of its purchase to whole foods, rolling out pop-up stores just in times for the holidays, in addition to buying food, you can add kindle and fire sticks to your cart at whole foods, new world, shares of amazon, maria, up 51% for the year. that he had are your headlines. maria: what a year for amazon? what a day for amazon? it's an amazon economy. in cased you missed it take a look at the top moments over the week. >> for the longest time we have been relying on monetary policy to move this economy forward. do you think this tax bill is going to move the needle on economic growth? >> what we ought to be concerned is that the federal debt is rising at a rapid pace, we have to get the debt stabilized before we can think in those
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terms and i think it's politically a mistake. we are one of the most heavily-taxed corporate * chuirs that exists in the world and i think it's probably wise to bring down the corporate rate, don't look to that as a major factor in expanding the economy, just brings us back to neutral. >> we want to make sure that corporations do have same incentive to invert and you're cleaning up the tax code, for far too long, privileged special interests have had the ability to get tax credits in tax code, we are cleaning it up so families can deliver tax rurps in postcard. that's what we are aiming to do. we are on a way trajectory to get it accomplished this year. >> i think it's great for middle america. i think it's actually great for every american and most importantly it is a job's bill that will put millions of americans back to work. >> i'm solidly against it and drew knows that we have americans in new york, you pay
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taxes to state and local governments and taxed on the same money a double time, it's completely unfair to new york. >> we have literally hundreds of thousands of jobs for data analysts, software writers and others and the choice faced is, wow, we need to create them ourselves and we do have to have trade agreements, we can't isolate ourselves or we are going to fail to thrive as a country. >> he's really been focused on america first which doesn't mean america doesn't trade or doesn't -- isn't involved internationally but making sure that these agreements and the relationships benefit the united states. this is really trump looking out for just the blue collar workers and that's something that matters a lot to him. >> people seem to forget about donald trump that he has surrounded himself with military people. you've got general kelly, general mcmaster, general kellogg, general mattis, it might as well be general mills. he has generals everywhere. what donald trump is really saying, guys, we don't want to have a war, but if you want to
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start one, we are not going to play around, we will finish it. maria: how does the president compare to past administrations? >> if you base his presidency on why he promised, he's a rock star. he's increased jobs, he's draining the swamp, decreased regulation, he's on a row. dagen: can i just throw to the sound of you on election night. maria: this ultimately will be a huge buying opportunity. he wants to lower taxes and roll back regulations. regulations has been the one barrier for large businesses and small businesses for growth and people will view major selloff tomorrow as huge buying opportunity because of his policy. that was pretty good. >> a new app rally road, you can buy stock in your dream collectible car. >> this car about a year ago was half the value of what it is today. maria: do you think the value keeps going up? >> not forever but, yes, absolutely. this is the real deal. 1955, over the past ten years
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has seen approximately 200% increase in value. >> why it's so important for the navy to be here in, no -- new york city to celebrate veterans day. >> when the navy comes to new york, the navy is coming home.
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retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
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>> the murderer is was and every one of you is a suspect. >> and who are you? >> i am probably the greatest detective in the world. maria: new movie murder on the orient express in films today, gross $20 million this opening weekend. joining us now senior vice president of marketing here at
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fox news michael tamara. i like the way this looks, does it have snuff steam -- >> positive reviews, huge cast will propel the movie, michelle pfiffer. maria: you spoke to the cast. >> they told me all about the making of this epic movie. >> you know there is something about the strangers pressed together with nothing in common but need to go to from one place to another and never see each other again. >> when you first heard you were going to do a remake of iconic story, what was sort of going through your minds? >> i had never seen the original movie or if i had it was when i
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was much younger. i had forgotten about the ending and reading the script through and trying to put the puzzle pieces together and being the detective as i was reading it, it just blew my mind. >> that's rare that these kinds of movies are made and, you know, that are so kind of epic in nature and that are character-based can have -- made it more relevant today. >> he's very good at honoring the source but also allowing it today and present day sensibility injected into it. >> what do you think of the dead man? did he have any means? >> i wanted something where you could escape into the screen, use the format and take audience and escape to a different place and become mystery and psychological drama which is
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engrossing. >> i'm sleeping here where everyone can see me. >> it's one of those things. maria: getting drawn in. it's beautiful. >> if this works, they have a ton of material to draw from. maria: who doesn't love michelle pfieffer. still ahead salute to veterans, we are talking to vets creating small businesses including one that revolutionizing ketchup. and i take trulicity once a week to activate my body to release it, like it's supposed to. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. the pen where you don't have to see or handle a needle. and it works 24/7.
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♪with the smallest of dreams ♪then let your love show ♪and you'll know what i mean maria: i am maria bartiroma, tgif to you. 7:00 on the east coast, donald trump attending asia-pacific economic select. and a stern message, our country will no longer to be advantage of when it comes to trade. >> we must ensure all play by the rules which they do not right now. those who do will be our closest economic partners. those that cannot be certain that the united states turn a
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blind eye, cheating and economic aggression. maria: busy day for leaders of the free world, donald trump could bump into russian president vladimir putin, the latest from vietnam. and the senate released highly anticipated vision with the country's tax code. the timelines that cut the corporate tax rate. futures indicated a decline of 50 points, and industries at the indices that are largely done, the dax index flipped into positive territory, it is up to and a half and the s&p, and in asia, stocks mostly lower at the close, nikkei
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average worst performer. the heroic father takes action in florida, after he fired a gun to stop his 17-year-old daughter's attentive kidnapping. bit coin, outshining gold in online searches. when you feel jack frost nipping at your nose before the? mother nature looking to pull your weekend plans, it is getting cold, what you need to know before heading outside. joining me to break it down foxbusiness's dagan mcdowell, editorial page editor james freeman and kevin kelly. great to see you. >> i would buy bit coin because there is no difference between it and gold, you mind gold, it doesn't produce cash flows, same with coin come you got to mine it, it is a store of value doesn't produce cash.
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dagen: my shoes have value, it is a stupid investment. >> why treat it as an investment? should be a means of currency and exchange. maria: is it based on truth and strength like the us dollar? what is backing it up? >> it is not predicated on government. government can't take it from you. it is outside the realm. the government could go $60 trillion in debt with unfunded liabilities hitting the balance sheet but it can never happen with coin. they make of the garbage hits the fan, people are paying their rent with her which is what happened back then. maria: not investing in their day. >> bit coin, great payment technology. dagen: you should invest in precious stones like diamond, come get them, easier to hide diamonds. >> declare the value too.
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>> we were getting to this all morning, turning to tax reform, senate committee released details about the tax bill yesterday which breaks from what was promised by the house and the trump administration. 7 tax brackets instead of four, 38.5% so they lower the rate on top earnings to 385, $1 million mortgage deduction and 1-year delay for the 20% corporate tax rate. steve mnuchin and steve scalise on that. >> the sooner we get the 20% rate the better for the economy. right away better than a year but a year is better than a longer phase. >> we have been working hard to make sure tax cuts are immediate. i won't criticize the senate, they are moving the bill
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forward. maria: house ways and means out of the committee yesterday, it is moving forward to go to the house rules committee before heading to the house floor. chris collins, good to see you. there are differences between house and senate, will you compromise on taxing the bill by the end of the year? >> i believe we will. the senate released, there are differences, it is 90% the same as ours with tweaks and nuances, we are certainly on pace, anyone who voted for the budget, 216 house members, that
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was a proxy, a yes vote for tax reform. we knew voting for the budget was the mechanism to get tax reform done so really do believe the house members that voted for the budget, definitely looking for a way to get yes thursday on the house. the differences are not that significant between house and senate. maria: a narrow when on the budget. congressman now, the deduction used by new yorkers, and the deduction in the year of 2015 to tax policy center. and as you eliminate that deduction. >> in my district, 35 to 40% of the taxpayers who itemized the
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return did take these deductions and averaged $16,000 in itemized deductions. by doubling that, less than 2% of constituents will itemize the reduction that is meaningless on the congressional district and that is true throughout upstate new york. if there's an impact it is in the city or long island, where peter king resides. we have to photo district. 7 of 9 republicans, six of the nine republicans in new york, less than 2% of constituents will itemize so it is a nonissue. >> james freeman at the wall street journal, members learn from details here, more support of this in the new york delegation than the budget vote. >> as we move this through,
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people running the numbers in my district, typical family with $300,000 home and $80,000 income, family of four itemizing and taking 16,000 deductions, $1800 using the standard deduction. when you run the numbers and see that 95% or more of our constituents and taxpayers pay less, they will see that in the paychex in january. maria: that is not what steve mnuchin said. there are many people who will get a tax increase. >> when you say many people i am saying 95%. we would like it to be 100%, but there's always the outlier and we can't change that but i will stand with 95% of hard-working. maria: this is what steve mnuchin told me about this
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topic. >> i do hope this sends a message to state governments that they should try to get the budgets in line and the question is why do you need 13% or 14% state taxes. maria: you think it is 95%, congressman. >> in my district it is 98%. it may be different in long island. a different dynamic on staten island. 95 to 98% of constituents will take the standards deduction and the salt deductions i meaningless. when you consider the alternative minimum tax which doesn't exist any longer was based solely on the government client money back from people who took the deductions of people were not getting the full benefit anyway, not getting the full benefit of the salt deduction.
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>> the amt was developed to tax 155 of the top 1% during the reagan administration. 4.5 million people, there will be a good reprieve in your county. we are not talking small business, the tax plan is a great boon for the american ingenuity to take more risk and put more capital back into the united states. in your county you have tons of small businesses, you were a small business owner your self, how will this affect -- i will it affect the economy redeploying capital and is this really a small business tax plan as opposed to focusing on the corporate rate. >> corporate and small business, you know job creators in the future are small businesses and anything we can do that small business owners keep more of their money and don't send it to washington,
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will be reinvested in growth, every small business guy gets up in the morning and says how do i grow my business whether it is investment in machinery, equipment, marketing, product development, there is the economic engine we need growing, in the past through, successful small business paying 39.6% and in some cases adding 3.8% obama tax depending on whether it is passive or active income. that will be a huge job creator, larger corporations but all focused on small business men in america. dagen: name one thing in the senate bill, would keep you from voting for this bill for this tax overhaul? >> nothing in the bill would start me from voting for it. it is a necessary to get our economy going so our kids can live the american dream.
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we promised it, we have to deliver it, we didn't do it on health care, better do it on taxes. maria: pushback is paying for this, how do you pay for this and how does it become a priority? clear to all of us the growth is a priority for this tax plan. steve mnuchin, when does tackling the $20 trillion debt become the priority? >> the debt is concerning the fact we have gone from $10 trillion debt to $20 trillion debt in the last eight years is concerning. there are issues we need to focus on so that the debt doesn't just continue to grow. the first issue is we have to have economic growth, the best way. dagen: dealing with the entitlements, over the years
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going to broke. dagen: 80% of all the growth in federal spending in the next ten years is social security, medicaid, disability, interest in the national debt. higher longer-term or short-term interest rates, it will swamp to use donald trump's word, swap the federal fifth, swamp the country. secretary mnuchin's point is critical to helping but take a hatchet to the entitlement program. >> the other point is we grow at 3%, we double the economy, in 20 years, $20 trillion to $40 trillion, there is room to maneuver but we deal with entitlements. maria: social security won't do that. >> double the economy in 20 years and our kids will be
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participating in a $40 trillion economy, that is why growth is so important as we have to get entitlements under control and if we do the debt and the deficit could still go up at a slower pace and we could get back to a 67% debt over gdp versus 100 today, grow our way out of the mess we are in. dagen: medicare goes broke in 12 years. >> bigger than the economy. we have to afford these promises. maria: i like priority being growth. 1.5% for too long, good to see you, thanks so much. stay with us, house majority leader kevin mccarthy will join us in studio to talk tax reform and a lot more. he will talk us through the next few weeks, stay with us right here.
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maria: a father fired his gun, cheryl casone he with the story now. >> three rounded four teenagers they were trying to break into his garage. tend to rob the house and
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kidnapped the teenage girl, the shots were fired, would be kidnappers scurrying into the woods. all four suspects were caught, this was the photo released by the sheriff's office. a doctor at boston university says aaron hernandez is brain-damaged from cte, the worst she had ever seen for somebody his age. hernandez had stage iii cte level affecting memory and impulse control, caused by repeated blows to the head. hernandez committed suicide in his jail cell after being sentenced for murder. the family is suing the nfl. legal setback for buber, losing an appeal whether it has to pay overtime to its drivers, happening overseas facing complaints about working conditions around the world but in the uk they are the
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company's largest european hub, london is and this is where it happened, buber has been fighting to keep his license inland, they are going to appeal this. sean parker not giving any likes to facebook, telling an audience in philadelphia they regret being one of the original investors thank mark zuckerberg and others knew they were creating an addictive product, putting children's health at risk. he rarely uses social media anymore and prefers real-life human interaction, he made billions investing in facebook, shares of facebook near 52, parker now runs like institute for cancer amino therapy. >> one of the founders and backers of facebook. >> he is admitting the inventors, creators understood consciously and did it anyway,
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they understood the potential impact on children, on their psychology, how they interact, the relationship with society and did it anyway. it is stunning but a message to parents. it is up to you. you can choose not to use facebook, that is a personal choice and requires personal responsibility. it is time to shut it off. maria: why does it impacted so badly? dagen: you don't from a personal perspective -- this entrance to graham too which is photo and video driven, you lose the ability to communicate with one another and our sense of self is distorted by the photos that use the. i have seen friends children have access to instagram posting photos i inappropriate for their age, fixated on
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personal features, that a young girl should be fixing. maria: facebook is killing us. dagen: destroying our ability to interact with each other. >> i these technologies overall are a plus but it is striking you see so many folks in the industry who make a deck of unplugging at home. it is a danger and not just kids, cyberbullying or sending horrible things, and embarrassing for kids who are being included, and everybody else having a good time. dagen: easy to develop a distorted sense of self, multiples worse than it ever was with the fashion magazine.
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>> he said it was social validation, see how many likes you get and if you don't you post, delete photos of people don't like it, you are looking for social validation in an online community. >> time for a story? dagen: hold that story. maria: we have new warnings on fidget spinners. you can't predict the market. but through good times and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence.
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♪look into my eyes ♪you will see ♪what you mean to me ♪don't tell me it's not worth trying for♪ ♪you know it's true ♪everything i do ♪i do it for you ♪yeah, i would fight for you♪
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♪i'd lie for you ♪walk the wire for you ♪yeah, i'd die for you ♪you know it's true ♪everything i do ♪i do it for you
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maria: millennial's have some swagger when it comes to investing, 64%, extremely confident. this trumps baby boomers and gen x, at 47%. the expert, author of retire inspired, chris hogan is here.
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this confidence is surprising. >> saying it is good that what you are doing. if you have a car issue i know i can't fix my car. and financial futures more important than a vehicle. >> think of millennials, the stereotype is they are not responsible, not appreciating as much as they should the virtues that build businesses. recent polling suggests like every other generation they are getting more responsible, doing the things you would expect in terms of creating households etc.. are you seeing that or is there something different about this generation people ought to be concerned about.
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>> you got to be careful not to pigeonhole the total of a group a. that is the goal of what i am doing, to understand that. have many more opportunities of what we had at that time to helping them be aware they can make better decisions that leads them to where they want to go. >> the imprinting about the millennial generation is it bifurcated into two groups, you have millennials came into the job market during cash of 2007-8-9 and the millennials where the younger ones, the ones we are talking about, the responsible, what you talked about earlier you are not a mechanic, you would get it fixed, at an age they can google every so they will robot advised -- maria: they just google. >> investing on their phone, apps the go to robo advisor. >> i can look at heart surgery
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and don't feel i need to do it. you understand the customized plan, you don't want to go it alone, you want to talk to a professional. the other is understanding your risk tolerance and what does it mean? the tax implications, you making the wrong move at the wrong time could tap uncle sam on the shoulder. maria: we always have financial discipline our whole lives. always big savers, very similar pedigree. that was the reason i got to go -- i was well-educated even in high school because my grandfather was a child of the depression. >> when the millennial's have today's investing, auto enrollment and 401(k) plans, it is just easy. you can buy one mutual fund set for your retirement and it is
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not mistake proof but companies make it easy to avoid mistakes and save for the future. >> getting them to take those steps, once you have the money don't pull it out, leave it, don't use it as an emergency fund or a vacation fund, let it grow for you and your dreams. maria: it starts at home, when planting the seeds you can have that but how do you pay for it? you have to have a nest egg your entire life. good to see you, thank you so much. coming up honoring america's heroes, veterans who bravely served our country and are creating their own businesses of their own. changes to the way you tweet, updates headed to the microbloging sites coming up
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ñ??w ♪ ♪ ♪ this holiday season, families near you need your help. visit redcross.org now. maria: thanks for joining us, i'm maria bartiroma. it is november 10th of your top story that 7:30 on the east coast, going into veterans day
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weekend, jcpenney reporting a smaller loss then expected, and the nordstrom and macy's, jcpenney shares up 7%. broader markets not looking as good, expecting a lower open, down industrial down 50 points, the s&p 500 weaker by one third of 1%. similar story, markets underselling pressure. the s&p is down 1%, the cac quarante on a 12:45%, the dac indexing negative territory. in asia stocks closed mostly lower. eked out a fractional move upward. hollywood rocked by more sexual-harassment allegations lose committee and louis ck facing misconduct claims, and sexual-harassment we have the details.
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twitter making some tweets, social media china longer verifying accounts for now. we will tell you what is behind that decision. fidget spinners the most popular toys for kids but a warning for parents, could contain lead. are you buying into the big coin craze? the crypto currency beating gold on online searches. topping news this half hour, veterans to entrepreneurs honoring america heroes today, who show courage, strength and know how to defend the country, when they end service there is an investment company giving our vets money to start some of the most cutting-edge businesses out there. we will feature of you this morning. joining us his navy pilot a kmart. with me as army gulf war veteran and ceo and cofounder of letters, good to see you.
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air force intelligence officer, and roomy space, kimberly younger. good to see you. a big you, colleagues across the country for your incredible courage and incredible leadership defending freedoms. thank you. in chicago, we want to make sure you appreciate you so much and honoring you every day but more so this veterans day. tell me how you started your business, you came back from your service, did you do this? >> a long journey. in a lot of ways, and what we learned in the military was incredibly helpful in business and had a lot more grit than people coming out of those
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areas. we put up with situations no one else can deal with and worked much harder than anybody else and that is needed to launch a company and a new product and get startup off the ground. maria: you come back from battle or training, you have courage, teamwork come all the things that are so necessary. >> the gulf war veteran, i date myself already on the show, as a west point graduate i thought i knew what perseverance was but in combat situations you understand it is a new dimension. when you start your business you are in it for the long haul. ptsd is a phrase that gets thrown around today in modern language. i chalk it up to serious determination and i if you have
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a purpose in life it happens to be authenticating digital communications, in a great spot to be and pleased to be on the show. maria: i want to ask what the focus is, let's get kimberly involves, kimberly, did you always have dreams of doing that in battle? >> downrange we were planning a different route and missions and nowadays planning very different things with the consumer package industry, very much, dreaming to do things, great things in the military especially downrange in afghanistan. we had a dream to connect farmers to market and now taking great packaging to bring the world's best cell phones to consumers and they are not different because is the need
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to be done. the best position to do that and get things done. maria: you held up roomy spikes. >> they are really great. if you like to make that great, and there is a saffron in french laundry and whole foods and it comes from afghan farmers and they grow it in afghanistan. we are the largest employer of african women. maria: tell us about your business. >> we are a computer vision and augmented reality company working with the largest brands in the us and worldwide to bring augmented reality to consumers. we are seeing a lot of stuff going on with ikea and big companies getting into a are and taking on the grays, we
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have been in that for years and one of the biggest leaders, and augmented reality, you can download our apps. go to the itunes store, you can see 3-d products in your home in real time, measure them, and you can buy it. >> down the road. is that your idea? >> in 2015 before anyone else doing it, we had some first grade partners like herman miller and other folks in the catalog still today growing at a rapid pace and great to see the industry and everybody. i don't have to explain what augmented reality is, that is the best thing that happened to
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me in a long time. >> a $3 million investment for the company which is transforming social media platform, my favorite is twitter and is transforming it. tell us about that. >> the product we announced this week, we recognize there is a lot of fake tweets, we understood there are tweets automated by systems or bots and i have a background in cyber and biometric, three years ago we patented a method that allows someone to create an original signature on their twitter handle and the face id, a seal of authenticity. the seals, this is an example of this, this is art on twitter. and only the user to unlock a feel of authenticity anytime
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there's a real time signature, and store the signature in the cloud, and the real time signature, place time and device and think of it as a block change for signature. it is a signature on social media which if you are lebron james or lady gaga your signature on twitter has market value and that is how you make money, we do brand deals with sponsors so if we have the foxbusiness seal of authenticity, drawing a tweet for authenticity, be more authentic as an individual. that is you. one of our artistic renderings but this allows your fan base to engage in your show by
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drawing topics on the show but allows the original verified account like yourself to unlock a seal of authenticity only registered by your identity. maria: a great idea, that is terrific. let's talk about your business. >> taking out the corn syrup. naturally sweetening it, drastically reducing sugar and calorie food into nutrient super foods. we use natural vegetables replace corn syrup, going in here giving you great flavor just like catch up. every kid loves it, this was a problem i was having at home. and i want to do something at my own dinner table. regular catch up has more sugar than ice cream per serving and barbecue sauce double the sugar the catch up has. maria: we are trying to eat
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less sugar and you put all these fresh vegetables in here, just two grams, that is fantastic. and spinach, things like spinach. >> leafy green and orange vegetables, vitamin k, vitamin d. we took an empty calorie americans table and turned it into superfood. maria: that is fantastic, what great ideas. did you think about this when you were training? knowing at some point you would come home and start your own business? what about you? >> definitely. i was in afghanistan looking for bombs and anytime we find one a new one would take its place, cofounders had similar experiences, so we felt there was no necessarily long-term commitment to afghanistan but needed something else to be done.
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to lay a sustainable foundation for these afghan people was for through profit business. we believe in capitalism. maria: i feel like if you are not using ai you will be left behind. you were left sure about the use of ai, but that could be a growth driver in business? >> absolutely. now you see the debarment of the fence focusing on ai and back in 2012 i was building little ai programs to help me do analysis. i was able to play with the f 35 augmented reality helmet in 2004 and these are the types of things where i saw where the technology was going, how the air force was integrating augmented reality, artificial intelligence, integrating artificial intelligence, i could do that faster, better, on the outside, and bring it back to the dod. maria: any thoughts on what is
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happening today in terms of our defense? >> the world gets more complex every year. as veterans we support those who serve today and thankful for those who remain serving. the us as to use technology not just about body count but intellectual property that comes out of the service academies and i look at the innovations veterans are capable of, innovation that wins wars, not pure manpower. >> we can't predict the future, we don't know what will come nextel we need to reflect land fair. maria: best of luck to you all. andrew and kimberly, thanks for joining us, be right back.
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maria: comedian louis ck accused of sexual misconduct by five women.
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cheryl: the new york times are putting allegations from several female comedians, that he was an appropriate with them over a span of years. the hollywood reporter is reporting in the upcoming film i love you daddy has been canceled. hbo distancing itself from the comedian saying he will no longer appear on the too many stars special, shows will be removed from hbo on demand, spokesperson says they will issue a written statement in coming days. prosecutors in los angeles formed a special hollywood sexual assault task force to deal with increasing number of these accusations in hollywood. twitter suspending its verification program after outrage over having a blue checkmark to jason kessler, organizer of the deadly white supremacist rally in charlottesville in august. twitter has doubled the display name character count, 50, days
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after the company -- to 280. shares of twitter up 22% this year. ahead of the holidays the consumer group warning fidget spinners being sold at target can be dangerous for kids. the breastmilk toy was found to have 300 times the amount of lead allowed in children's toys. they are recommended for kids that are over the age of 14. shares of target down 17% and those are your headlines. >> a closer look at crypto currency, the big.craze is booming beating gold on online searches. bundle up, take a look at temperatures near you as cold-weather is whipping the country this weekend. ♪ that is where i want to be ♪ beverly hills ♪ beverly hills
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maria: bit coin purchasing the crypto currency beat by golden online searches, hitting a record as developers decide against splitting digital currency. alan greenspan weighed in on this on this program. >> human nature is such that if you cannot get something such as bit coin, and and the currency's the didn't have any backing but ultimately what is dependent upon, the values are
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dependent on the value to the extent of maintaining a shortage of the product. >> thank you for joining us. to agree with the assessment that the bit coin craze is not sustainable? >> it is sustainable, don't know if it is a sustainable at these prices. the difference with chairman greenspan is people are willing to pay for it. if they are willing to pay for it there is a demand, the demand as he says, there is limited supply. i don't think it is a fraud like jamie diamond satoru here amid scheme like vladimir putin said. people are using bit coin to purchase things, that is not a scam or a fraud but different
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from other currencies. maria: jamie diamond is a serious guy who said it was a fraud. >> bart can sign in on it, we are seeing the cm is expected to futures on it that should lead to an etf. is the 6 a fraud? people can't invest with it. should there be futures launched by the end of the year? >> that is really apropos, the rise for a bit coin and to some extent, the cme group did a great job, i used to regulate them all that time. a good sense of what they do. that will go ahead and regulate these things and put
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sideboards, in the last day or two. and u, and they have things like circuit breakers, they will have circuit breakers, 20% for the day they are done. things like that and counterparty risk backing up in case somebody on the other side say those are the types of things i have been calling for for years they don't have to be overly zealous regulations for consumers, it is taking a while. >> speaking of enthusiasm,
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investors in bit coin, accepting is a form of payment, is that something, it is great to cut mastercard, but that doesn't work. >> whether it is bit coin or ether or something new and the white knight will get it right and credit card whether to discover, so there will be something you can actually use, that is a big difference. maria: a big thank you to kevin kelly. we will be right back. when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. i am totally blind. and non-24 can throw my days and nights out of sync,
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maria: well back good friday morning thanks so much for joining us. i'm maria bartiromo. happy friday, it is friday, november 10 top stories right now 8:00 a.m. on the east coast, getting tough on trade president trump attempt attending apeb summit in vietnam the latest stop on tour through asia region commander in chief clifrd a stern message yesterday saying our country will no longer be at an advantage of when it comes to trade? from this day forward we will k compete on a fair and equal basis. we are not going to let the united states be taken advantage of anymore. >> what we will no longer do is enter into large agreements that tie our hands, so are
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surrender sovereignty make meaningful enforcement programmable about impossible. >> no formal meeting scheduled president trump can bump into russian president a vladimir putin attending a summit the late this morning a tell a of two plans senate released vision to overhaul nation tax code a difference timeline to cut corporate tax rate we break down the plan markets under selling pressure take a look dow industrials off the lows, nonetheless showing a decline of about 40 points opening of trading s&p 500 down a of a percent as nasdaq in europe similar to dax index flipped into positive territory ft 100 down 30 points cac quarante down 10, the dax index off one point, take a look at markets in asia stocks closed most lower exception of china, shanghai composite up a fraction trouble for disney lackluster earnings issues for espn concern for investors a new
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hope how company plans to use to force to get on track, seattle seahawks flying high thursday nightstanding for our anthem, before the big win entire team chose to honor veterans one player that said he planned to kneel the entire season, we've got big moments from big game last night, coming up joining me to he can bra it down fox business network dagen mcdowell, "the wall street journal" editorial page editor freeman house majority leader kevin mccarr thee in sthooud this morning great to see you. >> thanks for having me thank you for joining us important week. >> big week, stronger next week we are going to pass tax reform. >> next week out of the house. >> yes. >> what do you have to say about that? >> i think it is very good news, and especially, that you've got that -- reduction in corporate tax rate immediately in contrast to senate carpeounterparts. >> you-like house better. >> i do.
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>> it gets into class warfare the left, congressman. >> end of the day. >> this is not the final, at the end of the day everybody getting a cut in every way, as you go -- >> we want to talk about that get down and dirty on the bill, and what the final bill will look like you will tell us this morning right. >> yes. >> okay. >> president trump bringing his america first agenda to asia declaring new world a trade order, meanwhile, the white house says the president and russian president vladimir putin will -- not have a meeting despite speculation they may blake burman has details. reporter: they will not tolerate chronic trade abuses that was message from president trump day in vietnam, as he addressed business leaders from the indo-pacific regional president killed the u.s.' role in trans-pacific partnership trade deal as you
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know decried the world trade organization saying u.s. is willing to make bilateral trade deals. >> from this day forward, we will compete on a fair and equal basis. we are not going to let the united states be taken advantage of anymore. i am always going to put america first. the same way that i expect all of you in this room to put your countries first. >> president also reaffirmed comments from china, saying that he does not blame china for taking advantage of u.s. trade brought them out a bit by saying, he doesn't blame other countries as well the president tried to make the point that those days are over. >> representatives are able to get away with it -- they are just doing their jobs. i wish previous administrations in my country
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saw what was happening and did something about it. they did not. but i will. reporter: white house press secretary is saying the president will not have a formally scheduled meeting with vladimir putin in summit in vietnam and later in philippines sarah sanders citing he scheduling issues it is likely they will bufrn into each other, maria if and when they do bump into each other, i guess after that -- we will see what happens. maria: we will be watching blake, blake burman at the white house this morning, we are with majority leader kevin mccarthy this morning let's talk about that congressman, president trump could be talking to putin do you they good idea to have a sideline meeting. >> i do i want world leaders to meet, the one thing i look at president trump -- straightforward talking he goes overseas tremendous trips wakes up we've got a bike problem here north korea getting the others in line,
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the issue china as well, they are doing more than in the past based on the actions of president trump and i think, president trump is strong let putin see the strength of president trump. maria: yeah, it was amazing to me that he already announced 250 billion dollars in deals, between america and chinese companies do you think they are actually going to move neil in terms of opening up china to the west, because right now you know you really can't own anything if you are a he foreigner in china you can do 49% joint venture that is about it. >> they seem as though last meeting a couple weeks ago o closing down a little more but the actions that i have watched since trump took office seems china reverse especially to concerns of america, talking trade talking about north korea they could be moretive shut off taking coal and others based on the actions of what this administration did, really to that whole region we want to show strength this friends allies push back on those not
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moving towards the american yes, it wou ideal. >> the tax plan congratulations you said i wanted this done year one watching markup happen looks like getting it done, senate republicans released framework for the tax overhaul yesterday, unlike house version senate proposal for keeping the current seven tax breaks in place legislatoring the top rate for individuals, 38.5% down from 39.6 currently preserve home margin deduction house version calls for cutting corporate tax rate 20% from 35% however o would not take effect until 2019 so a year, treasury second steven mnuchin told me yesterday if businesses wait a year won't curb incentive to invest he believes. >> i think sooner we got this 20% rate, the better it is for the economy, but the house and senate are having to look at how we pay for all of this, including major focus of the president, his middle income
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tax cuts so these are things that are still being discussed, obviously right away better than a year but a year is better than obviously a longer phase-in. >> let's talk about that congressman how much do you they waiting a year that is a big deal that we are waiting a year to the senate wants to wait a year to put 20% in? >> they are looking at everything else in the plan that is 1.5, everything offsets where i go i think better the sooner you do it shows the rest of the world we are serious we see actions tan broadcom said they are moving back to america. >> you worked on that. >> yeah they left, simply because we are not competitive globally, now, because we start expensing earlier businesses will take action can do that december 27 actions going forward poet way i like rightly away doing it, that is why house kept. >> it how are you dealing with salt issue, local income,
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deduction you want to eliminate, some members are saying i am not going to vote yes if constituents cannot use this deduction, put a cap in place how you getting them to say yes. >> one thing we want to look at overall tax reform if you are just looking at one item, yes, you will be very concerned by that but when you limit amt aa standard deduction you are going to have fewer people even itemize a family of four make 5:155,000 dollars don't pay tax if you eliminate the amt, that is actually worth more than you are state and local deductions that is why when you take the brackets going lower, think about it 10% bracket is now zero. 15 is now 12, and the way tax works, as you earn money it goes up, that lower rate accumulates on each month everybody is getting a cut as you go down if you look at final deal you can show where you are saving money in the process, and in a principal is state and local proper way to
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keep it making one fair tax bill for the overall country. maria: you think eventually this will pressure governors mayors to lower taxes or rein in spending overtime i guess impact for so he can about new york city in new jersey. >> we are trying to do here change overall tax reform so you actually lower it, too long taxes so complex we had all these different write-offs because the rates have been too high so when you lower rates, is curb deductions you want enough where it doesn't cost more mays that is what we have been working on. >> 45.6% so-called bubble rate is is that gone at this point. >> in house version we will go through, and finish. >> -- she says, we. >> remember what this is, this was in ronald reagan's plan, all it is rice capturing to get to 1.2 million, the savings you got at 12% level
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not 45 on all money so recapturing that and by doing that you are pushing down the tax cuts to the lower middle class what they have done i would like it very clear it was very excusing to people this is really in ronald reagan's time they had this pushed up to top level remember income brackets raised income brackets people not apples to apples look at faction we legislatored every rate raised income bracket so everybody is getting a cut as you go, and the first for average american, think about this maybe washington maybe new york doesn't take 1,000, 1200 big savings but in day's world most people don't have 400 dollars saved that is big, they don't safe they say next year the year after. >> we are all fired up about the idea that you are going to touch 401(k)s people don't have savings you are messing with -- >> never did -- >> okay. >> you are not going to -- >> everybody has -- tax is
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complex so we are trying to be fair, we are trying to make america competitive, no one is thinking -- think of trillions coming back in investing in america think it is very beginning, a couple of now going to save first 24,000 they make, instead of 12, standard deduction hits everybody. >> i know the property tax 10,000 dollars, that you've got in there not going to be enough for some members they are not going to vote yes on this plan will you put a cap so some people will be able to deduct that. >> average person pays 500 dollars. >> not new york. >> we pay 25 hundreds dollars. >> not new jersey. >> you know the policies in new york, new jersey are high, i think people -- that is why you went to 10,000, when you do 10,000 dollars in property tax, when you eliminated amt what is so important, here, amt is actually worth more someone paying 5,000 dollars amt worth about 15,000 --
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>> -- to say not going to vote? >> we sat down listened to a great deal that is how property tax deduction got put in mart of their idea this is part of the process going forward, every -- everything offsets one another now we have passed it out of committee, we are going to the for a, the senate will pass their bill we will go to conference, the final bill we look at. >> you think that final bill will be on the president's desk this year. >> yes. >> let me ask you about nice overnight alabama senate candidate roy moore facing suspense pressure to bow out of the race "washington post" reported four women accused him of sexual misconduct can when they were tweereens. >> many calling for moore to step aside if true. >> if any is try he ought to step aside. >> a devastating nsa story if
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that is true i don't believe -- >> if true shouldn't be in place what do you think should roy moor step aside. >> very concerning issues, disturbing every way you look at it came out last night i think today will show light on it people are quoted, so i think let people come forward see what is true and not but if it is, it is just like tournament trump said too serious allegation do the right thing. >> you are saying put light on. >> it put lights on it let truth come out. >> congressman we will take a shortbreak we are leap to have you for the hour thank you sociothat we can talk more about tax reform stay with us we will be right back right here. whoooo.
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so now, we're ready, bring on t. shipstation. the number one ch of online sellers. go to shipstation.com/tv and get two months free. maria: welcome back, we want to show youly pictures right here moments ago the president has arrived in vietnam, just entering the meeting there, as you see, this is third stop arrived for apebs summit dinner in vietnam as you see the president arriving moments ago, the department of homeland security is issuing a warning about armed drones cheryl casone with the story. cheryl: yeah, so maria a bull ton from homeland security warns terrorists are learning how to use armed drones in attacks agency says drones may be used to take down commercial aircraft president trump talked about terrorism in vietnam today. >> as i have said many times
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before all civilized people must come together to drive out terrorists extremist stripping them from ideologys support we must stop radical islamic terrorism so let us work together, for a peaceful prosperous, and free indo-pacific. >> rhymeing americans to be vigilant homeland security officials say everybody be safe, the french government says it believing former lebanese prime minister is not judd in saudi arabia firmed say they think he i free in movements announced resignation in saudi arabia last week, not returned to his country since then, he cited iran meddling in lebanon as the reason for his resignation. well seattle sea hakes take on
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cardinals last night richard sherm shrm erupt turds achilles. >> finds the ball, seahawks take it 22-16 every player in the game, by the way, stood for the national anthem last night, in honor of veterans day tomorrow, even michael bennett, vowed to kneel the entire season, well, what walt disney with disappointing quarterly profit as they laid out plans for streaming services ceo iger telling analysts after the bell the company is working on a live action "star wars" tv series for streaming video to launch 2019 this also going to be a series based on monster musically and marvel, and looks like troubles continue at the espn unit sources saying network laying off more than 100 after thanksgiving no comment on that report, and
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ceo iger providing details on disney plans to produce "star wars" beyond current trilogy to end in 2019. >> darkness rises -- light to meet it. cheryl: okay, he says ryan johnson writer director of this last jedi is developing a new film trilogy new movies stock trading more than 1% higher, excited about that. >> thank you so much. dagen james, back with us talking about tax reform, with majority leader your thoughts in terms of what is from yesterday's news. >> i think the big news is it is moving forward, i guess we want to we will hear from expert on -- on when we get this cone, and how we get it done, but getting our -- u.s. competitive with rest of the world finally big news here.
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dagen: greatest on corporate tax side, but i will he had a that the senate being the graveyard for the obamacare repeal is worth noting. maria: finish that after this short break back in a moment. liberty mutual saved us almost eight hundred dollars when we switched our auto and home insurance. liberty did what? yeah, they saved us a ton, which gave us a little wiggle room in our budget. wish our insurance did that. then we could get a real babysitter instead of your brother. hey, welcome back. this guy... right? yes. ellen. that's my robe. you could save seven hundred eighty two dollars when liberty stands with you. liberty mutual insurance.
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maria: well back shares of jc penney higher following better-than-expected results nicole petallides on floor of the new york stock exchange right now nic. >> good morning, so taking a look at jc penney up 14% this is a big move, the part that is really the highlight is that the comp sales ', a win, the truth of the matter that it is above its loader estimates they loader the outlook in late october, since then, the stock dropped 25% has been lagard down almost 70% this year, but they did have better than expected
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results, and this morning, we are seeing jc penney up 14% i am going to urban the it right over the hearst beat estimates warned higher spending the stock is up 10% what is interesting rival avenuis budget lowered earnings, earlier, this week and that containeringed because of concerns about hurricane harvey and irma, so there was concerns what hertz would come out with a winner up 11%. back to you. maria: thanks so much on floor of the exchange hertz up 11% you see there mentioned, majority leader in the house, talking about tax reform, let's talk about elections the other day dagen brought them up during the commercial break do you think that that was something to tell us about what is to come in 2018 given such a slel -- shellacking. >> competitive any time party
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wins first cycle difficult we've got more than 300 in senate watch the house tax is key i think, when you look at presidential race it is really the -- the election what it was about lack of growth in america you look at last 8 years, if you take highest growth year under barack obama still lower than worst year under bill clinton that is where middle class hurting make america competitive get middle class growing, country going back to work i think long way away whole different outlook. dagen: 2019 is -- i was going to say breaking news theresa may tweeted, the leader of great britain i have set out the date and time of our exit from the european young 11 pm 29th march, about 2019. i just wanted to say that. maria: that is right just came out 11 pm, saying date and the time, of when it will
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take place interesting tweeted this your thoughts on what is going on in britain, and this really, move for independence we saw catalonia want -- brexit theresa may making it official. >> this is a movement uk, struck it years ago not just catching up everybody sees it eu when they want to regulate, the everything else upon life i don't see how somebody wants to be part of that -- you lack growth when you do that. >> regulate you had great success in terms of rolling back regulations president as well as congress. >> it was twl -- we have congressional only one history of america has it ever bn successful look at a regulation, go back in time, and repeal it with a simple majority both houses we have
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done 15 of those already. dagen: maria bartiromo talks about rollback in recreations -- in regulations pretty much every day. >> 30%. >> yeah, this is faster than ronald reagan. the president trump is doing. >> i think why the stock market is where it is frankly because thank you know, the 5.6 trillion dollars gains since election day is because of optimism about tax because of this. now when you sit down now assuming the house and senate pass what they've introduced here, what is your big priority going into that negotiations what do you want to say number one change about what the senate is doing? >> change what senate is doing? or -- >> what elements of your bill what is your what is your big goal here as i negotiate -- >> at the end of the day i want to make it law. okay? i want it to be pro-growth, but if you look at the framework the framework is pretty close together, right? we have also corporate rates going to 20, timing when have we do it i think you will find
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an answer there i don't think the senate bill can pass without putting in property deductions inside the house that is where a lot of geoyou got -- >>. dagen: they increase at the mortgage interest deduction back to one million dollars. >> keep it one million dollars. dagen: does help offset removal of the 10,000 -- >> there is not a great deal of people -- we just heard from your colleague chris collins, that this is this is a win for most taxpayers, they get -- they get the big standard deduction even in blue states with -- >> grandfather everybody in you bet a big win no matter where you are every rate is lowered not going -- lowering rates raising the others, every way lower in process their top rates low i like to make sure we work that, i am one doesn't think we should punish people for being successful. maria: that is what we want to know why all of a sudden is success evil. >> that is not evil with tax
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bill much more success. dagen: should not have put that surcharge in there taxes people -- >> 46% rate. maria: the problem bubble rate -- >> there is -- >> you are -- rate is still lower, what is sneaky to say rate going up, you know there was democrats said that. >> gave them pinocchio four pinocchios. >> yesterday i endured some will see taxes go up. >> if you are writing complexity of tax bill today speaking lot of time going through vr deduction every element you can, i can't say at the end of the day, because we eliminate so many loopholes somehow you won't but i can say this, on the very first day if january 1, everybody is getting a pay raise you know your first 24,000 dollars is tax-free, so what you need to do in january is check your check. because what is going to happen your would you agree
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holdings better more home people argue what is happening 1.2 million, i am concerned about what is going to happen to single mom make 30g,000 dollars a year, she is going to get money back, or small business owner, first business when 20 i know how difficult it is, you are going to get lowest rate you had since before world war ii going to create jobs. >> more with majority leader kevin mccarthy historic moment in time tax reform. back in a moment. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be.
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maria: welcome back happy friday everybody thanks for joining us. i'm maria bartiromo, it is friday, november 10 happy you are with us, your top stories right now 8:30 a.m. on the east coast. breaking news on brexit that is britain exiting european union british prime minister teresa may says they will leave massive 25201911 pm violent for prosperity security of her run european markets for reaction very much a steady situation, ft 100 down into that tweet, it is still down 3 points cac quarante down a fraction, as is the dax in germany, here at home about tackling dpruts senate unveiled plan key differences from house version of tax reform especially phase ip of 20% corporate tax rate. >> -- economic growth has a reached 3.2% and going higher. unemployment is at its lowest
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level in 17 years. the stock market is at an all-time high. and the whole world is lifted by america's renewal. >> president in vietnam globally markets down in u.s. s&p 500, nasdaq and dow down fractionally this morning looks like a negative turn at start of trading. kick off this half hour with this, the anniversary of the 2016 presidential election, liberals still ask shatting would have happened if hillary clinton had won instead of president donald trump washington post published their alternative reality timeline, [laughter] alternative reality, clinton would select joe biden the secretary fbi director jim comey would continue term, clinton would nominate merrick garland supreme court announce immigration bill expedited
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pathway to citizenship joining us former chief interesting for the hillary clinton presidential campaign chief strategy for bill clinton 19196 rehe election joins us mark, good to is he. >> you do you believe what "washington post" is saying a what is what world would look like today should headline headline won. >> fantasy fake news. >> i spent 13 years request clintons yes many of us think would be true wow -- the special prosecutor, what happens in oval office politics is going to be rough and tumble, there is no such political fantasy things go nicely i think had she won comey, and the attorney general, had been reappointed lynch would be -- endless calls for special prosecutors woulds stuff came out about
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dossier actually aamusing game to play no matter who wins, wins. >> did you join in the howl or scream on anniversary of the election. >> you know, i did not do either, i think, i think you just got to look at what is going on in the country, right? and truth is a divided country divided on election day i don't think any of those wounds have been held a by anybody. >> mark what are you going to do about it? look at where does money hand over fist dems you appointed out yesterday have debt and have been enable to raise money unable to raise money what do you do to turn this around for your party. >> virginia a moderate candidate, with an army record, he took a position, against ask sanctuary cities, i think having moderate candidates like that if that is where party can come out a winning formula i think being
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under played. >> can party come out. >> bernie sanders seems to be the new leader of the party he won't register as democrat when i look at candidates recruiting, they are much further left than anything in the middle so when you look to the '06 they kid moderate now going far, far left fighting each other more they have more candidates eight people in race and one democrat candidate in the race. >> do you believe the party has been hijacked by extreme left he lz warrens, barack obamas. >> i put more tell attattempted. >> there was a bernie sanders -- he lost i like to see more and more open democratic primaries, i think in those typically moderate will win a lot of drots democratic, we got to eliminate caulk becauses presidential races is there is a battle going on, i don't think there is a leader of the democratic party right now, i
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think republican party is less united than democrat party but right now, the democrats have the edge that as the come out. >> do you think democrats are edited especially after what donna brazile said of an in california an election for state party chair carried it on because bernie sanders kind of versus the others they said too close, a cheated, seem defied as a well, let's hear from donna brazile choice words following aftermath of bombshell basically said go to hell. >> yep. well, i don't think there is any -- look there is no question that she really spoke up here but what she said about dnc dnc going to be reformed a club that has frankly engrained a lot of habits here look at primary system iowa, new hampshire,
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look at bias could be played i think you are gonna see party reform my point the problems in democrat party plet eedz to spot moderates need to be to the left dnc needs to be reformed widespread agreement about two things donna brazile at the end of the day will have helped rather than hurt party i think on republican side mcconnell least liked political figure of all major figures the party is warring against itself, bannon and other fact shun of the party can't decide what candidates to put in right now republicans are shooting themselves out of the majority -- >> i would auger anthony weiner is more disliked than mitch mcconnell. >> weiner had -- on laptop. dagen: doesn't matter i would argue the democratic party in some way is tainted by the nefarious ill deeds of some like anthony weiner even hillary clinton, in virginia you saw single women come out
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in droves moderate men we were talking about in greenroom these are women literally they it seems like oh not hillary clinton running for this office i will come out and vote, that is what it looked like she was so -- such a distasteful candidate to even die-hard are liberals is they wouldn't come out for skwlur went for trump. >>. dagen: to some of them did in rust bell. >> sing woman moved for democrats came out 16 points huge move for single women the biggest endangering to republicans and trump the loss of moderate men in the suburbs, because they really were attracted by economic message of trump if you lose -- if you lose that we win those, that is going to be you know if you project virginia the republicans won the congressional national vote by one point last time two or three-point swing in congressional vote definitely
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gives democrats the house. >> if you have economic message. >> is there an economic message. >> yeah, we are talking about tax reform, so 2018 going to look different than it looks day does country want to go back to nancy pelosi? when you talk about -- unabout -- unfavorable hers rather high democratic leadership average age, go a going back washed places in virginia turnout some plays higher than presidential -- >> look, i do think you know, donna brazile pointed outside democratic leadership faded. >> it was time to go a good spirit i think you are going to begin to see some of that a younger more aggressive leadership in the democratic party i am less worried today
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about democratic party than a few years ago i do think as long as there is some tax reforms here moderates will win out just like in virginia, and if that happens, the republicans have no real response. >> you pointed out how the republican party has become less popular than donald trump. if mr. mccarthy and colleagues get tax deal done do you think that starts to change. >> maybe there is great financing pointing gillespie says trump, trump says gillespie northam says it was me, i think a little bit right but truth is trump's ratings are not the lowest in history lowest was bush in 20s, then with clinton in low 30s around 40, w450s in virginia i think means closer to 45 nationally the republican party itself couldn't do health care like negative 70, can't get stuff done whether i agree or not who could vote for them. >> that is a good point. >> if we start, knowing what the house has done knowing what senate has done, still
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opportunity, senate finishes this out the world looks different in 2018 comes that is we have a responsibility and that is really what we need to do next year, you took clinton from down here to get reelected, that showed by -- doing welfare reform others. >> five or six things to get done one would be a start. >> good to see you -- >> thanks. >> great insights from mark, right back. stay with us. ange... at t. rowe price... our disciplined approach remains. global markets may be uncertain... but you can feel confident in our investment experience around the world. call us or your advisor... t. rowe price. invest with confidence.
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. maria: we no what senate version of tax reform will look like, shortly before the plan, i spoke with treasury secretary steven mnuchin market reacted host of "varney & company" stuart varney thanks for putting us in your show. >> wait a minute, wait a minute hats off to you that was a terrific interview thank you very much for letting it on my show the billed of 11:00 hour i want to say something when you started that interview started on our air, the dow industrials were down 95 points, within a couple
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minutes right after your first question and his first answer, the dow was down 130, 135 points, you maria with that question, you moved the markets, what you have done you grot secretary mnuchin very idea there could by a one year delay, in that 20% top koert tax rate, the market doesn't like that, investors saw him say that, in your interview down went the market we moved the market, hats off to you, hats off to viewers, and hats off to fbn arrived when you can do that kind of thing must watch viewing you got to watch it. maria: true, and the market yesterday, i was he i was per perplexed about that i know they want to 20% right away one year gives time to plan in terms of spending investing in a company only a year, not exactly five years, of course, we were fired up about. >> we don't want delays you
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want -- dagen not me the economy wants a jolt rapidly you don't want to delay the jolt, i think that is why market sold off i don't think selling off much more. maria: a fractional remove i know you have more did you want to say. >> buy on dip. >> there you go. >> see you 10 minutes. >> you will thank you "varney & company" after "mornings with maria" right here on fbn what do you think about that congressman? he says they want -- 20%. >> -- we will -- that is good to vote -- >> key we will take a break talk more senate finance committee releasing a tax plan we break down what you need to know about gop o proposal how this ends up back in a moment. six in the morning. she thought it was a fire. it was worse. a sinkhole opened up under our museum.
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eight priceless corvettes had plunged into it. chubb was there within hours. they helped make sure it was safe. we had everyone we needed to get our museum back up and running, and we opened the next day.
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maria: . >> this is a this is a highly interesting issue to a very small part of the population. now the president said on the campaign that he wanting to change the rules, for hedge funds and carried interest the house has proposed going to a 3 year holding period i think that is a big step. in the right direction. maria: treasury secretary mnuchin talking to me yesterday about accreditor interest deduction eliminating that as campaign promise from president trump, congressman your take on where things stand undermine of that deduction. >> secretary was correct in house version we reformed it moved to it three years which is a big reform structurally you can't flip equitably you are investing longer term want to encourage investment long term, and to me that is a good start we can always look at more to do. >> dagen you wanting to bring up obamacare. dagen: repeal of individual mandate is not in senate bill not in house bill could it wind up in there?
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it would save 300 billion dollars. >> -- well you have to write to 1.5 if we write two bills 1.5 why need the other you look absence agency we go through conference, if not in one or the other less likely in the final -- >> what do you think is most important point when you get together with the senate? to actually go through two bills in terms of of the differences what are you looking to change? >> make it become law. make it pro-growth, make make sure people get apple cut tax cut in the process make sure at the end of the day each growth that is more than a trillion dollars, so getting america working again, the whole country at the end of the day that is how at the judge this. >> speaking of encouraging investment you kill the death tax the senate reduces it but doesn't kill it. we -- >> we phase in eliminating tax
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senate does not. >> you expect final bill it would eventually die? >> well, that is part of going to conference, how our system works, hamilton teached based on why washington, d.c., is capital take house version senate version get together only you onlyfying out where we have common ground based on two bills, that is where you see compromise give and take both sides would i like corporate rate go in right away, get lower rate would i like lower rates. >> we have been talking about how you pay for it i know you have been looking for pay fors how you pay for this i asked about that i want to ask you as well here is what mnuchin said and i got to get xeents on entitlements, congressman comments on entitlements. >> that is concerning, so let me first say the fact we have gone from 10 trillion of debt to 20 trillion of debt in last 8 years that is quite concerning. and there are issues we are going to need to focus on so
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debt doesn't just continue to grow. i think the first issue is we do have to have economic growth. that is probably the best way of dealing with this. maria: i know growth is your priority now. but when do you turn to okay we've got to start reining in debt. >> we have been from beginning discretionary spending republicans very successful put a cap on that real money is mandatory is that is where entitlements house successful he reforming when health care senate was not but you can't solve this just by cutting you have to grow economy, and go back in, and reform entitlements for future generation where break. >> social security goes up when. >> medicaid goes broke. dagen: medicare hospital trust fund broke in 12 years benefits cut to 88 cents on dollar i want wait to see lawmakers republican and democrat sitting in office, when that happens, when people get automatic benefit cut because going to happen unless
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you get off your seats. >> look at everybody that said they would say no, it is easy to deal with the problem now you have more options to do now those people getting elected just say no, not perfect voting no is easiest things to do if elected taking a tough vote not going tax credits is very complex at the end of the day you have to make a decision, and what we have before us is what are we looking for future this is going to be pro-growth this is going to put more money in pockets day one. >> did that surprise you when it got down to the end of the health care vote how many republicans in senate really didn't want to reform entitlements. >> senate doesn't surprise me that much, but i think -- lots of options going to help us -- alerts -- wouldn't you like one from the market when it might be time to buy or sell?
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question of the day, there's a stock price dipped. investors have bought every dip since the election. are you buying now? good friday morning. this is a time investors have to make a choice, sell and sleep well because you walked in or by the dip and hope the trump rally rolled on. if you watch this program

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