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tv   Making Money With Charles Payne  FOX Business  November 30, 2017 6:00pm-7:00pm EST

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spending in order to avoid more deficit. more to come on fox business tonight. tune into lou dobbs, mick mulvaney will be on at 7:00 p.m. eastern time. thank you very much for watching. charles payne is taking it from here. charles: i am charles payne, tonight, a historic day on wall street and capitol hill. on wall street stocks surging behind tax reform momentum on washington after republican senator john mccain said that he plans to vote yes to the senate tax bill. all four major averages posting record closes including the dow which soared past 24,000 for the first time ever. i'm going to discuss other major drivers, it's not just about tax reform, america on the move again. breaking news out of washington -- the joint committee on tax releasing analysis of the senate tax bill revealing the tax bill as-is would increase gdp output by 8/10% and
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increase revenue $458 billion meaning it would pay for less than half of what it cost. this news unfolding as the senate debate the tax bill. while republican leaders try to sway five undecided colleagues, two of which who say they will not vote for this bill if it adds to the deficit. how will all the numbers affect the fate of the tax bill? ask republican senator bill cassidy, a member of the senate finance committee. i appreciate you carving out the time for us tonight. a lot of action down there, we're getting close. wall street loves it. the american public feel it as impalpable. we're hearing news there won't be a tax trigger but to counter that, the corporate taxes probably the tax rate will start at 20% and stair step higher each year to what number? >> i can't tell you what number it's going to end up at.
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i do know that j.c. t saying .8% growth is all that would result from this. most people don't believe. saying economy is going to top out 2% per year over the next ten years. when we've had 3% growth for the last two quarters, projected 3% growth for next quarter. .8% growth yields $500 billion in excess revenue suggests we go from 2.0 to 2.6 and everything is taken care of, and that's what folks are banking on. charles: we know, of course, getting senator john mccain as a yes was a huge obstacle, but you have this deal that was cut with bob corker to get it out of committee, and that's the one thing that's triggered it. it's got a lot of people bothered. myself included. the idea that the economy may slow down on its own, economies can be cyclical and add to the burden of a tax hike.
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seems that goes away, how do you get corker on board. >> there's been a lot of huddling to try to find out. obviously it just broke that the trigger was not able to pass the test. and so there will be continued conversation. but do i think there's a mechanism by which they can be satisfied. but i go back to this, since 1946 to the beginning of the obama years, the economy grew on average more than 3% per year and that is including 10 1/2 recessions. one-half of the great recession and president obama took on, but aside from that one, ten full recessions as well as natural disasters in between. the dwlad we can't grow beyond 2.0 defies history. and if we grow a 2.3 or 2.4 then we have more than made up for the lost revenue and think that will happen i refer back to the presidency of ronald
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reagan. we saw incredible annual gdp gains, one single month with a million people employed with a smaller population. the odd thing is that you and fellow colleagues are having to convince republicans that this is what could happen. >> of course you want to be conservative. we're conservatives. on the other hand, this is not happening by itself. regulations being cut. we're changing from a territorial to worldwide tax system there could be 2. $5 trillion more invested in the united states. we think there are macrofactors working in addition to the tax cut that will elevate us from the 2.0 per year growth to something far more robust. charles: senator cassidy, thank you very much, and good luck with everything down there. we like the huddles and the crazy move the democrats just pulled was a good one. keep at it.
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sir, we appreciate it. >> thank you. charles: i want to bring in very own adam shapiro to discuss this maneuver that the democrats attempted. adam? reporter: it wasn't so much the democrats, angus king wanted to send it back to the finance committee, the bill dodged that bullet. where we stand right now, charles is what you were talking with with the senator, this is key. i want to go back to the interview with senator hatch in july. the chairman of the finance committee told us in july, a corporate tax rate of 20 to 25% would be ideal. the j.c.t. score, that report doesn't deliver the growth that the tax bill is promising. so how do you get there and pay for all of this? you listen to senator hatch as he suggested back in july and now what they're proposing is 20% but then the steps up, you
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increase it each year perhaps of a cap of 25%. we don't have anything confirmed with senator hatch, relying on the interview back from july. this is going to senator hatch and even paul ryan. mitch mcconnell talking about they will get this done. >> i think we feel pretty good right now. the republican conference has come together. >> horse racing is a big deal in kentucky. coming down the homestretch, headed towards the finish line. >> results are what matter. we're in the results business here, and that's why getting this done. i was shaking this up and down, we're going to go to conference. reporter: going to go conference, you heard paul ryan saying going to conference. he's scheduled the house to vote monday night. they're going to be voting monday night to go to conference meaning he expects the senate to send him a bill so they can do that.
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so still moving forward with a few changes and now look at this proposal possibly to stair step, increases in the corporate rate starting at 20%. how high would you go? and by the way, that conference committee, katy bar the door, there will not be people happy with that. charles: adam, thank you very much for bringing us up to speed. deroy murdock, "national review" contributing editor. beverly holbrooke a contributor to the hill. jenny beth martin, co-founder and president of the tea party patriots. deroy, you were going back and forth in your chair like crazy when adam was talking about the stair step thing. first and foremost. the senate came up with the idea of delaying corporate taxes for years and now stair step them higher, which adds validity to the whispers we heard yesterday that we're not ultimately going to have a 20% corporate tax rate.
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>> i don't know why they're making this so difficult and so complicated and convoluted. president trump ran on and won on the idea of a 15% corporate rate that jumped to 20. now have a stair step or delay. i don't know why republicans, should be conservative free marketeers have the idea that the economy is growing at 3.3% without the tax cut having kicked in yet is going to slow down and peter out at 2%. according to joint economic committee. that's ridiculous. the economy will grow at 3.3 or above, and no reason to do other than 20% corporate tax immediately as soon as that signature is on the piece of paper. charles: beverly, i'm in the same camp, with respect to the economy, i don't buy scoring any of the scores, but again, it gives back to republicans and surprising number of them seem not have faith in supply side economics themselves. >> i know, i'm so glad to hear that the trigger tax hike is not going to happen, triggering me just to hear them talk about it because here's what it comes
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down to, we do not have a debt because we tax too little. we have a debt because we spend too much. so when we take a look at this, i feel like sometimes republicans aren't getting back to the basics of what we know about the reason we have this debt, so i'm hoping we can keep the corporate tax rate low. see what the house is going to do, i would agree best-case scenario for republicans is for the house to be able to sign on the senate bill and give it to president trump. charles: jenny beth, talking corporate rates here, but as someone who was at the forefront of the tea party movement, all about grassroots, all about ordinary folks. smaller government and people allowed to have individual freedoms. are you happy with this bill? is it starting to conform to the ideas of the tea party? >> well, it's moving in the right direction. i think we have a ways to go, but it's important that we get it passed. during ronald reagan's presidency we had a period in 18 months where we had 12%
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growth. in my adult lifetime, we haven't experienced that same growth the way we did when president reagan's tax cuts happened. i think what the republicans need to do is pass, this make sure we get tax reform, and then come back and make sure we also get spending cuts. we need both and i can't imagine how the economy would flourish if we had both. charles: interesting, because one of the ideas, if someone -- once they lobd out the idea of triggering higher taxes, the most obvious counter to that was why not trigger spending cuts? why not make that part of the deal? if the economy isn't growing the way we think or the way history tells us it should, how about automatically cutting some of that discretionary spending to make adjustments? >> totally makes sense, i advocate the penny plen, you spent a dollar of taxpayer money next year, next year 99 cents, the year after that 98 cents. get down to 94 cents and leave flat.
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should be 18% of gdp that uncle sam would consume. you lock that in, you have a balanced budget within seven years, if you did, that the economy would take off like crazy. tax cuts and spending restraints. this elaborate scheme to push corporate taxes up a ladder or scale or escalator something bizarre like that. charles: beverly, you got mccain on board, that was a sigh of relief, if you will, but johnson still barely uncommitted. susan collins very much uncommitted. couple other folks, corker or others like heller saying we don't want that. the trigger has been thrown out but people are going to bristle at the alternative if it means higher corporate taxes. >> you have seen when senator mccain came out and he had the caveat and things he doesn't like about it, that's what you're going to see from senators. they're going to sign on. they know this would be detrimental to the republicans in the midterm if they didn't do something, they could have caveats and press conferences. >> in other words, they're going to do what we used to
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call the right thing. >> exactly. here's what i'm interested to see. the individual mandate is in the senate bill, see what happens after they debate it on the floor. i'm curious if that stays it and what that can mean for possible health care reform. i've thought it was great to be in the tax package, john roberts called it a tax to begin with and encouraged to see it's still there and hope it stays. charles: of course, that's the next hurtle. maybe get through all of this this week, if the senate does get their act together, the markets believe it's going to happen, jenny beth, but we have the meeting between the senate and the house, and everyone's talking nice right now, but there's some pretty -- some folks have dug in on different sides and it's going to be tough hashing that out. >> it will be tough, but a good thing to know is i've heard rumblings from the house side they're not going to accept anything higher than 20% corporate rate, and they want it to begin immediately on january 1st. we talked about that already on
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this panel that it needs to happen. i think that when it does go conference, the house is going to be able to fight for some of the things that their constituents want to see, and let's face it, the house who gets re-elected every two years is much closer to the people than the senate. charles: although, the senate, though, sort of throws its weight around, if you will. but by the same token, deroy, the body that dropped the ball on obamacare, and you know, we had a sound bite, of course, of paul ryan talking about getting things done. he's taking a lot of criticism, and a lot of it is deserved but the house has accomplished a lot more of president trump's agenda. >> way more, last i checked, end of october, the house passed 308 bills that are languishing in the senate. gathering dust. so they throw their weight around as they leap from nap to nap, unfortunately. one thing i think would help on, this rather than talking about repealing the individual mandate, i talk about very simply making obamacare voluntary.
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if you like obamacare, you keep it, if you don't like obamacare, you go do something else and have the tax hit you, 80% of the people who hit the obamacare penalty. let's make obamacare voluntary. charles: speaking of messaging, also, beverly, mcconnell, equating this to a rubiks cube. i have a god son who could do it blindfolded. i still after 30 years haven't gotten one side right, the same color. when you say it's almost impossible to do, i'm not sure that's the leadership we need to get it -- we could see the finish line but tough to get there. >> i've never been able to solve the rubiks cube either. when it comes to tax cutting, you are talking about a 31-year-old tax code that's a labyrinth of deductions and loopholes. what you want to hear from republicans, they can be hopeful about. this they can simplify, lower tax rates because of course they're going against the
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democrats' narrative this is horrible for middle-class americans which couldn't be further from the truth. so i would hope that you would hear more positive language talking about the hopeful nature of this and paul ryan has definitely been better when it comes to the messaging. charles: jenny beth, maybe i don't want to get too far ahead here, but assuming that this gets done, certainly the market today says that the so-called smartest guys and gals in the room believe it will. where do we go from here, there are a lot of things backwards, could have bought themselves the trillion dollars if they got the obamacare thing right the first time. talk of the wall, talk of welfare reform. when did they get the wind in their sails? >> they get the wind in their sails, we're up, where they're going to have to pass the bills to fund the government. when that happens, they need to look at exactly what deroy was talking about earlier. we supported, tea party patriots, spending one penny less out of every dollar that
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the government spends, and i said it a few minutes ago, let's have tax cuts and spending cuts both. that's what we need. charles: jenny beth, after eight years of complaining about debt, deficits and government spending, what happened to that? these were the same people complaining about it. >> complaining about it and the same people who promised they would repeal obamacare. we have to keep reminding them, these are the promises that got them elected. if they're worried about keeping their job and being re-elected, keep your promises. if you would simply keep your promises, the american people are going to re-elect you, and the economy is going to thrive. we're going to have more freedom and america will be better than ever before. charles: we always say, that and saying something, hey, you guys, not going to get re-elected and 99% get re-elected by 50% margins. the only thing acting as a de facto term limit is when they lose committee leadership.
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once those go away, they might have a clue where can you get them all to quit or stay less or longer. do you think many of them are truly afraid to lose in the midterm elections? . >> i think so, they need a legislative victory. it was easy to campaign against president obama. very easy to be against things. hard to be for things. this is where leadership comes in. if you see the senate bill get voted on, go to the house, i would look for the state and local tax deductions, that's where you have congressman from new york, new jersey, california, trying to push for tax breaks for their constituents there and there are going to be a lot of republicans that don't want to sign on. this does come down to good leadership, but they all know they need a legislative victory and that's helping them come to terms to this. charles: hold on here, looking at president trump and the first lady and, of course, the
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national christmas tree lighting ceremony. obviously, a very festive mood there. would be anyway. president trump vowing to bring christmas back, merry christmas back to america, and i got to tell you, he's got the wind in his sails right now. here he is. he's going to speak momentarily. >> thank you very much, everybody. this is a great honor, and it's something very, very special. i also want to thank for doing a fantastic job right from day one, secretary zinke, thank you very much, secretary. [applause] today is the day i've been looking very much forward to all year long. it's one that we have heard and we speak about, and we dream about, and now as the president of the united states, it's my tremendous honor to finally wish america and the world a very merry christmas. [cheers and applause] i want to thank everyone who has come together here right in front of the white house, that
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beautiful, beautiful white house, and everyone watching from home to see the lighting of this incredible national christmas tree. for nearly a century through good times and bad, every president has taken part in this wonderful tradition first started by president coolidge, but i was informed tonight that the weather we have is the best it's been in 25 years. [cheers and applause] i said is it always like this? and the secretary said, hasn't been like this for a long time. so we're very lucky. finally in 1870, president ulysees s. grant signed legislation making christmas a federal holiday, and i sort of feel we're doing that again. that's what's happening. from the earliest days of our nation, americans have known christmas as a time for prayer
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and worship, for gratitude and goodwill, for peace and renewal. melania and i are full of joy at the start of this very blessed season. we're thrilled to think of the people across the nation and all across the continent whose spirits are lifted by the miracle of christmas. for christians this is a holy season. the celebration of the birth of our lord and savior jesus christ. the christmas story begins 2,000 years ago with a mother, a father, their baby son and the most extraordinary gift of all, the gift of god's love for all of humanity. whatever our beliefs, we know that the birth of jesus christ and the story of this incredible life forever changed the course of human history. there's hardly an aspect of our
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lives today that his life has not touched art, music, culture, law, and our respect for the sacred dignity of every person, everywhere in the world. each and every year at christmastime, we recognize that the real spirit of christmas is not what we have. it's about who we are, each one of us is a child of god. that is the true source of joy this time of the year. that is what makes every christmas merry, and that is what we remember today's beautiful ceremony that we are called to serve one another to love one another and to pursue peace in our hearts and all throughout the world. and so tonight i thank the millions of americans who light our lives and brighten our
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wonderful communities. i thank those who are serving the needy during the season and throughout the year. i thank our military men and women who are stationed around the world. keeping us safe. i thanks our law enforcement officers who protect our treats and secure our homeland. i thank america's teachers, pastors and all those religious and those people that have taught us so much, for their leadership in our communities and our society, and especially tonight i thank america's families. at christmas we are reminded, more than ever, that the family is the bedrock of american life. and so this christmas, we ask for god's blessings for our family, for our nation, and we pray that our country will be a place where every child knows a
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home filled with love. a community rich with hope, and a nation blessed with faith. on behalf of melania, myself, barron, all of my children, all of my grandchildren, they're here with us tonight, i want to thank you, god bless you, and god bless the united states of america. thank you very much. merry christmas, everyone. merry christmas. happy new year. thank you. [cheers and applause] . charles: that's president trump, he thanked our military, law enforcement, teachers, pastors and a special thanks for the american family and he talked about the tradition of christmas and the gift of god's love for all humanity and gave us a history lesson on ulysees grant making christmas a
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federal holiday and, of course, this is the best weather we've seen for this tree lighting ceremony in more than 25 years. president donald trump. christmas lighting ceremony. we'll be right back to discuss the markets and more. crisis, and saw his portfolio drop by double digits. it really scared him out of the markets. his advisor ran the numbers and showed that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor.
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charles: breaking news a verdict has been reached in the steinle murder case. the vertical way announces 6:45 p.m. eastern. i want to switch gears and talk about the market which obviously took off today on the news that john mccain who many thought would be a notebook would support the senate tax bill. there's no doubt ambassadors are clamoring for lower corporate taxes because would mean your earnings per share results and the key to market dilation. moreover this gives businesses the ability to hire more people. i would encourage would-be investors to understand the most important driver of this rally
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is a wee awakening of america's dna. it's a historic inclination to lead and excel. it's not a political comment to say that corporate america spent the last eight years in a foxhole while the american consumer played it close to the vest after losing all their confidence. in fact one way to measure consumer confidence is corporate revenue growth which has been in a tailspin since 2011. in fact five of the last seven quarters going into this year saw a decline year-over-year. that's changing. in the second quarter sunday revenues with a blended rate of 4.3% and so far with 90% of the main supporters for the third order that number has accelerated to 5.8% and then we move down to earnings which can be impacted by a lot of different things including corporate buybacks and taxes are less quarter 74% of companies on the bottom line for blended rate 6.3%. that's almost two times what was expected. currently wall street
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anticipates even more robust revenue and earnings growth going into the first half of 2018. all of this by the way before the g.o.p. tax plan is even implemented. take today's foreigners for instance. they reflect renewed main street enthusiasm but also underscore the magic that could come up with sauce sharp reduction in corporate taxes. retailers posted a great financial number. it wound investors and we had strong comparable sales numbers and shares were up 6% today. comparable sales at stores if you don't count the gas stations stations. both of these retailers paid an effective tax rate of almost 33% last year for transportation had a great day in about the strong session. the biggest winner in the dow jones transportation index with southwest airlines of 3%. last year they paid in effective tax rate of almost 30%. think about that if it's 20% while the stock do?
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than their financials a combination of moderately paced interest-rate hikes for next year and a stronger economy will help the banks as well as regional banks. goldman sachs almost 3%. so here's the bottom line. we are in the midst of the manufacturing renaissance underscored by the chicago pmi member of the midwest on fire. the bottom bottom line of the economy is on a roll and guess what? it's not going to stop even if republicans snatch the -- from the jaws of defeat. there could be news even if this bill goes through. your investment proposition goes way beyond tax reform. america is back. this rally my mind has a very long way to go. we will be right back. with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity.
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charles: matt lauer offering an apology one day after he was fired for inappropriate behavior at work. initial details are emerging about the former nbc hosts conduct while he was there. now as many as eight victims have stepped up a capitol hill house minority leader nancy pelosi and other top house democrats finally increasing pressure on congressman john conyers to resign amid multiple accusations of misconduct. this is senator alfred and faces new allegations in an epic committee preliminary inquiry into the alleged misconduct. joining me to discuss ashley
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pratt and republican strategist trial lawyer and back with us beverly hallberg said lebanese are with you ashley. the developments moving quickly. we made the observation earlier this week the this week that corporate america is moving very quickly. congress seems to be dragging their feet and one of the things with conyers is going to save to the democratic leaders what's the deal al franken is hanging around that you are pressuring me to leave? >> i'm not understanding what the differences between corporate america the media and congress. the people in congress are elected by the american people and they are supposed to be the best representation of americans, right? instead what instead what we are seeing is behavior that is absolutely despicable and as more allegations continue to come out against the same people there seems to be a lack of accountability here. now i'm happy to see a bipartisan effort on the hill but before was this whole blame game between democrats and republicans when at the end of the day the behavior is not
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partisan issue and that's something that needs to be addressed. i'm glad pelosi came out and said that condit should resign. amidst all of these allegations democrats and republicans should be looking to do that in calling out members as these things happen especially in light of more allegations of not just one but calling into investigations. charles: they continued to mount everyday and we anticipate even more. again in the corporate world they have these big-time attorneys and i understand what's at stake and they are making these decisions fairly quickly. some would say perhaps without due diligence that we don't know what evidence they have seen and in the case of nbc to air may have been a cover-up trying to make the management of better for not stepping up to the plate years ago. >> absolutely and corporate america behavior is usually dealt with swiftly because the shareholders demand accountability but in congress a different standard applies. we are just learning today member congress from new york
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was actually had a $100,000 settlement paid out in a sexual harassment scandal get the taxpayers didn't know about it until today. that's outrageous and i agree with ashley it's a bipartisan issue and we need to hold our members accountable. whether republicans or democrats. charles: democrats may be in a pickle. conyers is throwing out the race card and again they have two sets of rules one for al franken and one for john conyers. >> i find it very hypocritical because when you think about so many democrats congressmen and congressmen they talk about wanting to stand up for women's rights yet when you have so many women coming forward against these two individuals they seemed to be defended the men and not the women so i'm not sure why there's a topography. another thing we do need to keep in mind as more and more people do seem to be exposing men who have treated them this way is that there is a difference
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between what we saw from leslie congressman joe barton who had a consensual relationship with a woman. it was an fidelity so don't get me wrong and he has said he is not going to run for re-election but as we have accusations coming out we need to make a difference in consensual and harassment in some cases where we are talking about minors. those are the two things that we need to ultimately take into account. charles: all of that will be hashed out but we are in the midst of it and everyone has been torn at the same category. ladies thank you all very much. sorry we were short on time. a lot of breaking news. we will be right back. call us or your advisor. t. rowe price. invest with confidence.
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i used to have no idea what the american cancer society did. research? yeah. but also free rides to chemo and free lodging near hospitals. i used to maybe give a little. then i got so much back. i used to have cancer. please give at cancer.org. volkswagen announcing due to strong sales in united states and the market it's ready to -- for the next three years signing strong suv sales.
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charles: again a monster session
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for the market the dow jones industrial average up 331 points. investors continue to rotate into the undervalued a chip names in sectors that are associated with what i call terra firma per by the way big earning. >> 8.5% same-store sales and strong guidance for the holiday season. today one of the big winners was tight machinery of almost 14% for the retailer of agriculture and farm equipment following the farm equipment maker hear who shares are up 45% this year. the question is what's driving this phenomenon of robust farm economy? remember the old saying you can't keep them down on the farm? now you can't keep them off the farm. for the second time in 100 years there has been an increase in farmers. 69% millennial farmers have college degrees. also from 2,072,012 hispanic farmers are up 21% of american india farmers up 10% and black
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farmers. although it's a nationwide phenomena my special farm investigative report is ready. as for right now is talk about what's been driving it. i'm going to bring in lindsay shoot coalition co-founder and hardy roots farm owner. thanks for coming on the show wednesday. how long have wednesday. how long have you been at farming? >> our farm was launched in 2004 so about 13 years now. charles: what made you do it? first give me a background. are you from a farm background? >> i had farming a couple of generations back and my family but i grew up in the suburb of ohio and actually i started farming, my husband was in new york city in a community garden. through gardening in the city and communities supported agriculture and learning from farmers who were supplying us right in the city we found that
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we could be farmers too. charles: isn't that what's going on farming has become hip among millennial specs they know knowe have this organic food movement and these tv shows and we have the shouts and everyone is for farm to table. if that's what's driving this movement? >> is definitely part of it. i think it's also millennials are looking for a way to make an impact on the world, very positive impact and isolate farming is a way we can do that. you can grow or a fruit for your community. you can be an entrepreneur and you can be a be a businessperson. you don't have to have the best job looking at here phone and computer all day. it's an opportunity to be active and effective. charles: what about revolutionary things are happening the farm? we talk about the market outlook time prints all about revolutionary things in technology and medicine, revolutionary things in medicine. are we seeing the same sort of drive of innovation and farming as well? >> one of the exciting things as
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we are seeing farmers drive the innovation themselves and developing their own appropriate technologies. one of the greatest innovations for small farms in recent years is a lettuce harvester that gets small farmers to compete with larger scale california farms who sell to their local grocery store or restaurant. charles: when the foreign ministry was in trouble and this is a ways back but most folks remember it. you had people being foreclosed on and far made willie nelson wanted big one of the big problems were these giant corporate farms. an overwhelming percentage of farms are still owned by families but are we going to see a reversal in the trends of the smaller farms and is there anything that can be done with from washington d.c.? trillions of dollars big business handouts is there anything that can be done to revitalize the arm landed help farmers even more? >> that's a great question. you are right in the 80s we
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did face the farm crisis in the farm crisis really stayed with us. that's why we had so few young people in agriculture today. only 6% of farmers are under the age of 35. for every farmer under the age of 35 we have six over the age of 65 so the reason we have this gap is because so many farm kids in the 80s were told that there was an opportunity there to find alternative occupations. congress could do a lot to help the nation's young farmers. we had a farm bill out due next year and there are many opportunities there but right now the question of the tax overhaul there's a couple of things. one i don't think we agree on this point that i will tell you the affordable care act is one of the most helpful programs for young beginning farmers and all small entrepreneurs across the country. the health plan available to me when i had my first child was the only option so in a recent survey thousands of beginning
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farmers across the country the affordable care act came up as the number one program for them. in terms of taxes one missed opportunity, there are a lot of talk about the estate tax and how that impacts farmers that really capital gains is a much bigger issue. by making some sort of reduction in capital gains for the sale of farmland to beginning farmers to veteran farmers that can make a huge impact and would incentivize the generation of retiring farmers now to sell their land to that next generation who needs it. charles: i think also they can make money. can millennials to ditch the suit for the cowboy boots make money? >> i will say from my experience, yes. we are able with a lot of support provided directly force them to get a nice margin on our products we are able to support ourselves and our family. charles: they don't mind a
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premium so i would imagine is starting to become a sweet spot and i will say congratulations from new york city to a farm keeping people fed and doing all the right things. i think it's an untold story and i appreciate you coming on and sharing your story with us. >> thanks for having me. charles: we have breaking news for you. abe verdict in the kate steinle murder case announced any minute now. a homeless illegal immigrant is on trial for the murder. steinle if you're a member was walking on san francisco's pier 14 back in 2015 with her father and a family friend when she was shot. he has been released from the san francisco, released from the san francisco jail. three months prior the shooting and that was despite a request by immigration authorities to detain for deportation. we have a criminal defense attorney not involved in the case but well-qualified.
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he's on the phone now. everyone is waiting for this verdict. there is a lot of tension. so horrific story of her bright beautiful young lady with an amazing future ahead of her and also the undercurrent of political nuance here, immigration, sanctuary cities and things like that. how do you think that verdict might come out? >> the verdict is going to come in a sec and it's really anybody's guess. there are three possibilities that the jury can unanimously find a verdict of guilty unanimously find a verdict of not guilty or some might vote one way and some another in which we get what is called a hung jury but i really have to hand it to the prosecution and the defense team who really during the trial politics in the immigration debate out of the courtroom and really were focusing on the evidence on ballistics, on the bullet trajectory, on gunshot residue
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and analysis of the video. so i've really got to hand it to them for that. charles: troy you said three possible outcomes and i guess you can apply that to any court case similar to this but from the testimony that has happened thus far is there any sort of provincial wisdom as to how perhaps this verdict may come out? >> the jury has been deliberating for a while. they took a break over the thanksgiving holiday. they have been collaborating for what is basically the longer a jury deliberates the better it is for the defense. the das office is arguing this was an intentional murder, that zarate pointed the gun at the family and fired it intending to kill somebody and the defense sustained that this was a complete accident. so it's really anybody's guess how the jurors are evaluating all the evidence and what
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decision they will ultimately come to. i think the jurors really want to do the right thing but they are really trying hard to come to a just verdict. charles: thank you very much. we appreciate your expertise and of course we'll keep you posted as soon as the verdict is announced. we will be right back. ain. it's time to shake up your lineup. ain. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp
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nabors. >> i know people they work 3 jobs, they live next to machine whsomeone that did you not workt all, that person who is not working is making more money, doing better than the person that is working his and herasess off, it's not going to happen. >> charles: president trump promising to make welfare reform a priority.
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joining me now. fox news political analyst. geeano, he described my family, my mom worked hard, she would come home, we would have same stuff as people of whose moms did not work. saying, why am i working. >> i had opportunity to see people who had more, and they were on welfare, that was discouraging for many people who do work. i am thought for for '96 reform bill it was fantastic. charles: i'm sorry, because of breaking news, we have to cut out, i'm sorry. >> let's do it. charles: we'll be right back. i'm also on a lot of medications that dry my mouth. i just drank tons of water all the time.
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it was never enough. i wasn't sure i was going to be able to continue singing. i saw my dentist. he suggested biotene. it feels refreshing. my mouth felt more lubricated. i use biotene rinse twice a day and then i use the spray throughout the day. it actually saved my career in a way. biotene really did make a difference. [heartbeat]
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show of hands. let's get started. who wants customizable options chains? ones that make it fast and easy to analyze and take action? how about some of the lowest options fees? are you raising your hand? good then it's time for power e*trade the platform, price and service that gives you the edge you need. alright one quick game of rock, paper, scissors. 1, 2, 3, go. e*trade. the original place to invest online. charles: amid north korea crisis fox news con firming rex
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tillerson to leave the trump administration in january. and pompeo to take over. here, christian. i have to start with you, this has been rumored for a long time, do you like this move? the timing, some people think is questionable with antics in north korea. >> well timing is coming up not far from year point when tillerson would have been in job, rex was right man for 2017 with a steady man at the wheel. leading department on big changes, now it may be time to move on to someone more political. charles: does senate signal to north korea we're done with diplomacy? >> i think you have someone a little hard charging, pompeo is the right guy there are this
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moment. the point made about tillerson is correct, he was right when this administration got started, but it time for a change. charles: thank you so much, here is lou. lou: breaking tonight president trump on verge of political success on tax cut and reform. in prospect, perhaps, perhaps within hours, a historic leblg lateslegislative accident that d cement a republican run away landslide in midterm elections less than a year away, senate republican leaders some of the last remaining hole outs, holdouts, mitch mcconnell is expecting a final vote, perhaps late tonight or early tomorrow, president trump winning big this being, taking on dems and deep

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