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tv   Mornings With Maria Bartiromo  FOX Business  December 22, 2017 6:00am-9:00am EST

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more uncertainty and pressure on spanish stocks in the euro this morning. lauren: absolutely. riva gold, thank you so much. happy holidays. >> happy holidays. >> time to send it to dagen mcdowell over at mornings with maria. do you like my hat? >> of course, gerri. [laughter] dagen: i might be a scrounge sometimes of the year but not this time of the year. he's wearing a mets kind of christmas sweater, if you can imagine. lauren: there he is. [laughter] dagen: i have no idea. now you know who is on the show, good morning, i'm dagen mcdowell in for maria bartiromo, it's friday december 22nd, top stories at 6:00 a.m. eastern. ready for the president's signature, the commander in chief may sign historic tax bill into law later today. president trump to give his
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approval on stopgap spending bill after lawmakers avoided a government shutdown reaching an agreement to keep the government funding till january 19th, republicans continue to celebrate the largest tax cuts in our history according to some. vice president mike pence making surprise visit in afghanistan. >> i know it's hard to be away from home especially, but in this season, i want you to know that you are in the hearts to have american people. dagen: details as he thanks heros this holiday season. the dow manage to go eke out 55-point gain. we have gains across the board. in england overnight, england, france and germany, the end of the trading day. france and germany both lower at
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the moment. shanghai reporting slight loss. changing alphabet. eric schimt plans to step down as company's chairman next month. we break down the decision that's sending shock wave through silicon valley. crypto crash, bitcoin tumbling 25% in just 24 hours. think about that. losing a quarter of its value in a day. so is this the end of the bananz? we will discuss. porsche made number one, who is that talking to me? it wasn't lee carter, she's pollster maslansky + partners president. it was iraq and afghanistan veteran pete hegseth and michael block, i'm glad you're on because you have been e-mailing
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me this week, at least the impact on people in blue states, but we will discuss. >> we will play violins and discuss. dagen: republicans around the country just don't care. >> they don't feel sorry for blue states. >> we've all noticed. dagen: no. >> rolls my sleeves up. dagen: it's going to get signed into law. the president may sign that tax bill into law today according to senior administration official, this a day after the president celebrated passing what he calls the largest tax cut in this country's history. meantime on capitol hill, lawmakers also managing to avoid a government shutdown that had been set for midnight tonight by stopping a funding measure keeping government running and pushing showdowns over spending, immigration and national security into the new year, lee carter, your reaction, the
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discussion over the holidays between now and the new year be positive, you think? >> i'm not sure that it'll be positive, what i have been hearing from voters, they are confused. they don't really know what's in the plan. democrat talking points benefiting the wealthy and not benefiting the middle class and the lower classes is one that's really getting traction and so people are confused, wait, on the one hand democrats are saying, on the other hand republicans are saying, a lot of people are fighting about it and people don't know where to go for information. they'll be a lot of heated conversations over the holidays between people who love it and people who hate it and i don't ever all i know it's a big victory down in dc for the republicans, they will have to continue to sell the plan throughout next year because the democrats are using a wedge, listen, the republicans are out to get you, guys, they are only out to themselves and friends. dagen: nancy pelosi is even ratcheting up the rhetoric. >> how is that possible?
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dagen: telling a story about tinny tim and frankenstein. >> that's going to be their rhetoric. what's going to matter here what actually happens to people, what happens to income, what happens to wages, what happens to jobs coming back or not. look at obamacare, the democrats sold the heck out of that and they paid the price for it because it was a terrible bill that was ran through without -- first of all they sold it as saving you money and the exact opposite what happened, what is going to matter is what actually happens. in the meantime republicans have to miss -- message this in a disciplined way, you keep your money, that's how we see it. you keep more of your money. dagen: they will see that. quite frankly, we have said this before but i'm going to keep repeating, more than 80% of people, at least in the first year get a tax cut. more than 80 -- 80 or more, 5% of people will see taxes go up. 5%, that's it.
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that translates into positive feelings, good feelings about this bill. >> show-me situation where people will say is there a real impact. the corporate tax cuts and if the cuts on the higher earners who start small businesses filter through. is it going to mean more higher wages, are gdp going to go up, are wage numbers going to go up, if so, it's going to be great. i will say that. i will say that's going to happen but we have to see how it works. dagen: real heavy lift comes from businesses, we have seen a handful, we covered this yesterday, whether comcast, at&t handing out bonuses, thousand dollars to 300,000 people in the country. wells fargo, 15-dollar minimum wage, bonuses, boeing says it's going to spend hundreds of millions of extra dollars, billion dollars from at&t but
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the message from the democratic party going to 2018 is as the wall street journal writes today comes down to running against the tax bill almost entirely on the basis of its poor opinion poll numbers. that is not sound politics. >> listen, the bottom line is this, products don't sell themselves. a lot of this is a story that people are telling and rite now, yes, the president has a great discipline message but not everybody is consistently telling it. there's been a lot of debate between republicans knocking it down and the whole lead-up to this. there's confusion about it. it'll take a while for people to feel the benefits and that might be after the election next year and the bottom line it's a story that people are telling and so the republicans need to be out there getting people to understand what's in it for them. dagen: backdrop is stock market near all-time highs and economy that is growing faster than -- one quarter after another of 3%. >> that is the reality, perception is a reality. people who were worried who had been hurt before by the stock
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market bubbles are concerned, is this real s this going to continue and so despite the fact that there's so much momentum and people are feeling more confident about the economy, there's still this unease and this worry that the democrats are really messaging on and preying on. dagen: thanks to as the journal writes media spin. literally the entire media. only recently by the way that you've seen some articles that are giving president trump a victory on this. just a little bit, momentarily. >> the wage data has to get better. wages were up -- average earnings, they have stuck in 2.3 and 2.5. dagen: inflation is still low enough that they are purchaseing -- purchase has gotten better.
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vice president mike pence touching down in afghanistan, surprise trip delivering a holiday message from president trump. >> i bring greetings from your commander in chief, the 45th president of the united states of america president donald trump. before i level the oval office yesterday i asked the president if he had a message for troops in afghanistan and he looked at me without he hesitation and sa, tell them i love them and during the special season, i know that president trump was speaking for every american. dagen: visit after four months after president trump increased troops in afghanistan. >> first, you want to see commander in chief or second in command boosting morale in the
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field. it does matter. they have a commander in chief that has their back and those things are all good and all important and the right thing to do. that said, what is our end state in afghanistan 16 years in? afghanistan voted against us in the un yesterday. so it's not that we give them $4 billion of aid and we don't know the end state, having served there, having followed it closely, just preventing her risks from having heaven to operate. dagen: the media focuses on whatever president trump is saying or tweeting that people find offensive. >> right. he said some things in last year that i was bothered by and i have said that publicly, however, the media doesn't cover successes and it's just not tax reform plan, it's the fact that isis, islamic state in syria is on the run, again, the missions
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that are being done in yemen, what about the troop levels in somalia, back to the levels they were in '93 during the black hawk down incident. he has let military commanders take charge and make decisions about what to do. >> a whole change in morale in the military you talk to people serving right now. they feel like their back -- dagen: would you like to see president trump to take a trip? >> i think he will, i think he will, absolutely. they always do and we will cover it and nobody else won't. dagen: pete, well said. end of era in alphabet, eric schmit stepping down and future. is bitcoin losing its shine, plunging $2,000 in just 12 hours and it's not just bitcoin, it's many other popular crypto currencies, we take a look at why the rally is fizzling.
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♪ ♪
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dagen: eric scmit stepping down as executive chairman of alphabet, gerri willis is here with the details.
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surprise move. >> they rushed this announcement. that's what we are hearing. let me tell you, this guy was in place for ten years at google at the beginning, right, he was hired as the adult in the room f you'll recall that larry page, founders of the company very young when they started out and so they brought in scmit from noble, if you remember that name, lost to history now. he came in and ran the company to great effect, we have google maps, gmail, youtube, android, on and on, there are questions today about scmit and not his performance as executive chairman but his performance as human being, i'd guess you'd say, questions about not ha -- harassment but infidelity and media covered this extensively.
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this is not unknown and issues for political ties. he's really hooked up to hillary clinton, the whole clinton machine and now that's out of favor. big questions about that. he's going to stay on till january, he will remain technical adviser to the company, i should admit the most recent report, earnings report in this company, 24% gain in sales. this company is not hurting and otherwise if we didn't have the other rumors you would think that it's time for eric scmit to do something else, charitable giving, pursuing those kinds of things, i have to tell you, there's lots of other talk right now. dagen: absolutely, michael. >> i think this is bullish for the stock. yes, he is name is eric schmidt. he was walking around with staff badge on, that's how entwine -- >> all silicon valley was campaigning for hillary. dagen: she didn't win,
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obviously, and now the silicon valley companies i think -- they are reassessing. >> he was a liability. he's exhibit a, in cross hairs more than anything else. >> schmidt was in those positions where you help transition out of it. >> we will see what happens to other companies. nothing would surprise me. in terms of alphabet, great leadership, cfo from morgan stanley, she's done a great job, diane green. it was time for this to happen. good news. >> they are doing an amazing job. >> it certainly because timing wise but because of the environment, everybody is asking question about every executive that's stepping down. the question is did he do anything wrong or live a crazy lifestyle. dagen: in recent years he was ambassador, quite frankly. that's the word that the journal uses to describe. >> high-level job, right, he
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traveled for company, he wasn't involved in the nitty gritty of figuring out whether youtube was working right or not. dagen: ceo, by the way is sundai , i just want to point that out. >> you're welcome. dagen: bitcoin shares plunging in just a matter of hours, we look at whether the stunning rally is over. there's only one substitute when it comes to porsche taking runner f up spot in satisfaction survey, what brand cruised to the top spot this year? (♪light)
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see on page four that... [message notification] projections need to be... [message notification] earthquake? next thursday? seriously? thursday? can't do that. uh-uh. this is really inconvenient. i have yoga that day. i have no time for this. so... i can't do thursday, but i can do friday. [arguing over each other] narrator: disasters don't plan ahead.
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you can. talk to your loved ones about how you're going to be ready in an emergency. don't wait. communicate.
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dagen: the un security council plans to vote on resolution to impose new sanctions on north korea this afternoon. lauren simonetti has the details, lauren. lauren: good friday morning, dagen. nearly 90% of refined oil products exported to north korea by capping them at 500,000-barrels a year, it would also force all north koreans working overseas to return home within 12 months. china has signaled it is ready to support the new sanctions. meanwhile the united nations general assembly denounced the u.s. for recognizing jerusalem as the capital of israel and pledge to go move the u.s. embassy there. members voting overwhelmingly yesterday resolution herbal essentially rebuking president
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trump even though the president and un ambassador nikki haley warn that is the u.s. can reduce foreign aid to countries voting in favor of that resolution. >> the united states will remember this day this which it was signaled out for attack in the general assembly per the very act of exercising our right as a sovereign nation. we will remember it when we are called upon to once again make the world's largest contribution to the united nations. lauren: she wasn't the only one with harsh words, here is israeli prime minister benjamin netanyahu. >> israel completely rejects the resolution, jerusalem is our capital, always was and always will be. lauren: in the end the vote was 128-9. palestinian officials calling it a major victory. well, we are calling this one a bitcoin beatdown, prices plunging after losing around a third of its value this week
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alone amid all of the bubble talk, in fact, bitcoin lost about a quarter of its market value in the past 24 hours. 13,990 now. bitcoin remains volatile investment. many currencies friday. one company benefiting from bitcoin mania we have seen this year, long island ice tea corporation, they changed the name long block chain core, the company's stocks soared as much as 5% and this morning, company that made lemonade and ice teas, will be looking for partners involved in block cane technology. dagen. dagen: 31 digital currencies that are above 1 million in
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market value, 29 of them are down. >> now is the time to buy, dagen. dagen: pete. >> we know somebody who is not risk. dagen: how about investing jobs in america, you do that when you buy a share of stock in an american company large or small, you are an owner in that company. >> well, you could buy long island ice tea block chain.com -- >> talk about fragmented strategy. >> it's awesome. great. dagen: in case you missed it here are some of this week's top moments from the show. republican lawmakers delivering on promise to pass tax cuts by christmas and now the bill heads to president trump's desk. >> not only the greatest piece of overall economic agenda. this is how donald trump got elected, politicians making promises, either never delivers
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or delivering for them in their pocketbook. >> people are going to see tax relief even though they are being told by some that they're not, the business climate is going to get better even they are being told by some people that they are not. dagen: they are democrats, they are people across the aisle. >> yeah, i was being gentle. you're absolutely right. >> most of my democratic colleagues, god bless them, give money to government, because government is smarter than we are and they can make better decisions and i don't believe that. this bill will have impact on the american people. i wouldn't have voted for it if i thought otherwise. >> president trump ran on this, he said he was going to do it and delivered for him and he won. they wanted this to happen and now watch the economy respond and if you look at markets or anything else, a lot of signs that this will be a big success. >> when you look at something that hasn't been done in 31 years, a lot of ideas came to
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the table. what we saw is the manifestation of all of those ideas coming together. it's not perfect. there's going to be problems, there's going to be tax regression. we all should come together as americans and want to support our leader. this is going to come back to how people feel and they will feel like the economy is booming if what we see already is indication to go. >> already some of the tax rate reductions have taken effect and have shown response, the stock market has clearly done that. you have long-term growth in gdp, a lot of other things that are starting to happen now and all they will do is build greater and greater responses as time goes on. >> this was massive and this was an amazing opportunity for the gop to come together, the president deserves credit for leadership and bringing along some of those republicans even kicking and scream to go get this done. it was a great day for victory lap and we applaud the president.
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dagen: live from amazon prime hub in new york. >> this was like santa's workshop. just so you know, you are covered if you have forgotten something you are covered. dagen: women in the spirit of rosie, finding opportunities for relocated. >> supporting 10 to 15 women who went in making the bag. dagen: santa claus is coming to town. santa claus in the studio. that's my dog that came, we have two dogs who need adopting, they're in the studio, merry christmas, guys. live carolers singing some of our favorites of the season. ♪ ♪
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dagen: i am dagan mcdowell in for maria bartiroma. your top stories at 6:30 eastern. republican lawmakers delivering another christmas gift americans voting to fund the
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government until january 19th after passing historic tax reform. the president, donald trump, may sign the bill into law today. checking market into the holiday weekend, eking out 55 points. or muted reaction to this tax bill, every major market in the us. over to europe today, trading in the middle of their day. stopped mostly higher, in shanghai. driving to the top, portion and number 2 when it comes to owner satisfaction. the new trailer for oceans 8 dropping this week but not without controversy. >> we are going to rob it, not
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the ball it self. >>100 million. >> mt damommllyw ousands voting for them to be removed. and a licensing deal allowing users to upload music videos. out of this world luxury experience, looking to open a high end hotel on the international space station. that won't be your view from the room, those details coming up. a christmas gift for americans, a sweeping gop tax bill later today according to a senior administration official. some big-name companies said they would spend this tax cut
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fuel savings on pay hikes and bonuses and investment. critics of the bill argue the corporate tax cut down to 21% will lead to money and shareholder hand as the apocalyptic expense of the american worker. here to weigh in on how the tax bill will way and is heightened security senior analyst stephanie miller. what are the impacts? the cynics, announcements from at&t, comcast just to curry favor with administration and doesn't amount to anything but what are the hard-core results we will see in the us, what do we see from this corporate tax overhaul? >> it doesn't matter the motivation behind them in the end. what matters is that workers leading into the new year will have more money in their pockets and whether it is to curry favor with the president
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or some genuine interest to pass along the savings, the reality of this, companies are taking these actions. >> i can't help but look at this and say nbc comcast trying to gain favor with the president? that is insane. before this the criticism was look at big companies, they are greedy, they are horrible, they are not going to do the right, they will feed their ceos bigger bonuses and that is not what is happening. what story are we going to tell? >> these companies are being very smart to take these actions immediately to help dispel this idea that the wealthiest will keep getting wealthier and the rest of us won't have any access to the savings whether it is from the corporate changes or individual changes. from the companies view but political view it is important people have more money in their
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pockets next year with a promise republicans made and absolutely help them to realize that goal. dagen: i am going to read from the wall street journal editorial today, this is an important reminder to everybody, virtually all american workers not employed by the government depend on the economic health of their employers to support themselves and their families. that is why this is important. >> i'm not going to be cynical about comcast, they are doing the right thing. at&t we can make remarks, trying to get time warner done by doing this but it is going to help people, let's not be cynical about it. my question for you is are there certain sectors you are focused on when you talk to clients that are going to benefit more from this than others, analysts sharpening their pencils, whether you like the tax bill or not earnings estimates are going to go higher. are there certain places you
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have clients focused? >> in general the story the tax-cut for corporations is almost 15 points. which companies are paying the actual highest tax rate of 35%, one area that one industry that pays that rate tends to be the financial services industry which of these announcements wells fargo is one of the companies that came forward and said it would be realizing huge tax savings, and raising the minimum wage for its employees immediately. financial services look like a big winner because their tax liability should go down and pass along in some respects to their employees. >> a lot of companies pass on money in the form of a bonus which is a good bit on the individual side or more broadly on the corporate side how soon will people feel it? have political implications,
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perceptions, implications, how quickly do you expect any benefits to be accrued by individuals, it is a tax-cut. >> two things happening, one is the 18 tax breaks that take effect for individuals, we don't file taxes until february, march, even april, a lot of us, april 15th, april 15th of 2019 for those 18 tax breaks but simultaneously what companies, what the administration hopes to see his wage inflation the wages go up for folks across the country and companies making or hiring because they have more money they know will be in their pockets. the two working together. dagen: i am not a pollyanna and i see the negatives in this plan. the one part that i is the messiest is the pass-through tax cut, which would be for
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small businesses. they got a tax-cut so the top rate on the individual side used to be 39.6% and with this 20% deduction, limits on who gets that 20% deduction, it would take their top tax rate down to 29.6%. what is your take on the impact on the economy and workers and individuals of this part of the tax overhaul? >> this is one of those companies, and one of those investments is likely to be more hiring, small businesses stretch pretty and for the most part, and to allow companies to potentially make more highers, and realize over 8 to 2018-19.
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dagen: 2 point out the tax reduction, there are limits on who gets it, the income limit is $315,000 for married couples and phases out completely for some services. and rules on this part of the tax reform, along with individual tax cuts in 2025. they tackle hard. >> small businesses are the engine of job growth, and wage growth as well. leading the way, and small business optimism survey, what happened was the percentage of
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companies responded was down sequentially. i am watching this survey, not that this bill is passed, those numbers have to go up. dagen: it was overall more confident with the record high. >> when you dig into the guts of it wasn't as good. >> not just tax reform but regulation. and not as likely -- and tax reform. and regulation, deregulation environment in dc under donald trump is unbelievable, one new regulation, 22 regulations gone which was touted in the past
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week. comcast and the announcement about the thousand dollar bonus to 100,000 employees, and we don't want the government regulating the internet, that is what net neutrality rules where, the government taking over the internet and dictating what service providers could do. the backdrop for business here is phenomenal. >> not disputing that. dagen: think you for being here, coming up, a new tune for facebook, detail on the landmark deal allowing its users to choose the soundtrack to their lives. the final frontier of luxury, russia wants to build a 5 star hotel attached to the international space station complete with a chance to take a spacewalk. how much the out of the world vacation will cost. ♪
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♪ sweet dreams passing through the night ♪ taking over ♪ dancing through the night ♪ accumulations up to 8 inches... ...don't know if you can hear me, but [monica] what's he doing? [lance] can we get a shot of this cold front, right here. winter has arrived. whooo! hahaha [vo] progress is an unstoppable force. brace yourself for the season of audi sales event. audi will cover your first month's lease payment on select models during the season of audi sales event.
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they may futures point to a 25 point game on dow futures with gains across the board. facebook one name to watch, the company reaching on licensing deal with universal music, the agreement facebook with a major record label allowing them to upload videos featuring universal music. the deal is platforms involving instagram, moving up a little bit. and watching nike. and after the bell, earnings of 46 and to share top estimates, revenue also a beat, a concern for the retailer falling 5%.
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and down to present at the moment, boeing confirming brazilian aircraftmaker, hey, lauren. >> these two discuss the deal in the past that would value significantly above market value. allowing boeing the largest maker of regional jets that serve the smaller route for the year, shares of boeing have nearly doubled. tesla has the most satisfied owners. the tesla model-plaps topping the list of cars to the buyers are satisfied with their vehicle after three years of driving it. the second year in a row tesla is up, a porsche, 9/11 and chevy corvette next in line, shares of tesla, certainly higher on the year end up a little bit this morning.
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tesla and space x ceo elon musk may be interested in this story and have the money for it. russia's space agency planning a luxury hotel module for the international space station. it would basically allow tourists to stay on the space station for up to a month. visitors get the opportunity to do a spacewalk, $40 million to $60 million per person is the cost. i am trying to find out what this luxury module would look like. it has hygiene facilities, that is how they describe it but it can't be that comfortable. >> what is the hygiene facility? dagen: language matters. >> $40 million well spent. dagen: you want to go to space? >> luxury? dagen: why didn't you become an
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astronaut? >> i should have because i don't have any money let alone $40 million. that is the problem. >> is anyone surprised tesla won the survey? if you own a tesla or a porsche. dagen: you might. >> i don't have a porsche. if you own one of those cars you're pretty happy about life in general. >> there is proof that people who are wealthier are less happy. >> i heard that too. >> $130,000 a year, less happy than people with less than that. when you have a tesla or a porsche you are happy because you're making a statement about who you are, different from other car brands. this is saying this is who i am and i am proud to be that.
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dagen: i haven't two used porsches over the years and don't own them anymore. you can't drive 150 miles an hour and not get thrown in jail. you have to take into a track. who has time with that? that one giant pothole in front of your building destroys your car. what is the point? taking the subway literally. ford f 150. coming up hollywood hoping for a christmas miracle, looking at whether a holiday weekend packed with premiers is enough to rescue a link ticket sales. ♪ get to higher ground ♪ make you feel you can't calm down ♪ keeping me from the things i love to do. talk to your doctor, and call 844-214-2424.
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>> putting together a show.
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>> something people had never seen before. >> who is that? >> everyone has an active. dagen: that was a look at the greatest showman premiering in theaters this weekend. joining me now is fox senior vice president of marketing, you had a chance to sit down with hugh jackman. i bumped into him one weekend in the building with his family and almost collapsed. >> such a lovely human being, my favorite movie of the year. i talked with a little bit about the movie. >> people love musicals because of the songs. these songs, that music to me from the beginning is totally infectious and you wake up the next morning humming it.
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>> before the movie comes out. dagen: i have been obsessed all week with the live commercial they did over the weekend during the live christmas story. >> twist my arm. ♪ ♪ come on ♪ to hear the call ♪ a way to break free ♪ >> yes! dagen: it was life. >> it was incredible, tv at its best. it was embarrassing in the theater, you just want to jump out of your seat and dance it is so great. dagen: to see zack f run sing and dance. >> that is what he does best. dagen: i will go see that. i'm not a musical fan. >> i'm not either but this is
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hands-down my favorite movies, the biggest celebration at the box office this year. dagen: making a new year's promise, i will not thing. there are a lot of movies debuting this weekend, a handful of major releases, go through a few of them. >> star wars opened last weekend at the box office, the greatest showman, a reboot of the 1995 classic starring robin williams opens up. there is something for everyone at the box office. the final tour, god. the second one was not great. dagen: i will see that with my nieces over the holidays. >> will these final two week ands lift 2017 down 3%, so much coming down the pike that there is hope they may turn around the year.
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dagen: the new franchise, all-female version, the trailer is out, we can look for it. >> revenges two. >> do not want a job. ♪ one of the days these boots are going to walk all over you ♪ >> can'te just go tohis? >> yes. dagen: mt damon at ceo get pulled? >> no. dagen: because of his sexual harassment comments. everything about 2018, love you much, we will be right back. ok. 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
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>> good morning it's friday december 22. to give the taking the next step on tax reform. president trump may find that historic tax bill into law. after they avoid the government shutdown tonight. is there anyone wishing to change the vote.
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the motion to concur is agreed to. the latest as they were celebrate another legislative a win. they are showing gains across the board at the moment. in europe we have some losses to report in france and germany. a change in family. they have that on that decision. the decision to sell $100 million in stocks.
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a rock and afghanistan veteran. you are the host of fox and friends on the weekends. hi michael block. every time. it's gone soft on so many levels. do we have enough of that. it has gone soft to traumatic brain injury. will be talking of course about tax cuts.
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they are edging higher as wall street waits for that christmas present. this is according to a senior administration official. they are already weighing in on the benefits of the legislation. i could see them singing up almost immediately. they will benefit from this great tax cut. some of the millions of workers are can be seen that have been wanted this kind of relief. as you see now there is true competition going on. the new caps on estate and locally property tax deductions. david do you expect that to happen.
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you can make us more competitive. from an individual's standpoint because the provision you just talked about in the limitation you talked about. high tax states are good to be to be less competitive and therefore it's can increase the sense of urgency to get their own finances in order. that's what needs to happen as a result. i will pull something out. this is a vast tax rewrite. and very few tax payers are really can be hurt because they won't need that $10,000. tax rate is estimated that only 5% of households well even itemize their deductions
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this is in the wall street journal yesterday. i know a little bit about taxes. there is really three categories. secondly your people that were subject to the alternative minimum tax. many had then you have very high income individuals who were pain more than the minimum rate that could take those deductions. and now hopefully we will be in a position where we can run the numbers. one real quick thing i'll point out.
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the income level and what you could take it now higher exemption i think it went up to a million dollars. you literally had 5.2 million people in this country who usefully you say get hit by this and now it's getting to about 200,000 people i think. one of the other things we have to keep in mind while the tax bill is pro growth it's can create more jobs and improve our competitive posture our finances were spinning out of control again in washington. we need to fundamentally change how we go about the budget preparation process we need to get rid of the debt ceiling. and that's really critical. because things have started to spin out of control again.
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unlikely to push for social security medicare changes. the highest debt to gdp that we've ever had was after world war ii. we are now headed to break that record. and yet we are not at war. 70% of the budget is on autopilot. it's time to have a constitutional debt to gdp limit. washington is broken at the lala land of the east. we have to get control. the reason we are talking about these deductions going away and why that might be an issue is because cause of the rule in the senate.
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we are we're still adding to the deficit. more importantly the other markets don't seem to care about this. what needs to have been for happen for this to really come into effect i like what you're saying but what is good to push everyone over the edge and make them realize this could be a problem. people are very short sighted. they don't understand the potential consequences of a loss of confidence in the united states if we can't put our finances in order. it is progrowth. you want to grow the denominator faster than the numerator. i want to listen to this piece of sound from the minority leader in the house and then
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him and ask you about what you think this text to form does to deficits. listen to nancy pelosi. i caught a purist victory. do you know the ending of the story. the monster comes back to destroy. let's be clear about that. now this is all the sense a talking point on the left that will add to the deficit. we can't afford this. is accurate. what he think it's good to do there. based upon the independent analysis. it's must-have $1.5 trillion the fact is neither the democrats or the republicans are fiscally responsible right now.
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that's why go back to jet debt to gdp. if we did try to throw the economy. then what with the debt and deficit look like. it is still supposed to cost a trillion dollars. some people will say look they are underestimating the growth then let's had missouri show me test. the problem is everybody wants to have a hamburger today and pay for on tuesday. they don't wanna make the tough choices on the mandatory spending. we needed this program's -- progrowth tax reform.
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david i know you had been a data hock for years. one of the things i see is that our candidates are always running for office and the cutbacks are so unpopular. how do you think they should roll back and what do you think they should do to roll it back. everybody wants to give something away but they don't want to take anything away. were in a situation where things had spun out of control. the federal government was 2% of the u.s. economy. congress decided on 97 percent of spending every year. we have debt to gdp. the fact is that our political
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system is broken. we now have a republic that is no longer representative or responsive to the public the debt ceiling doesn't work. debt is not the issue. it's time to recognize that reality and put some mechanisms in place that will force decisions to create a better future. i get angry once a week at least about the fact that congress has no will to look at medicare. the medicare hospital fund according to the trustees report comes out every year in the middle of the year is going broke in less than 12 years. they are sitting around waiting for that day to arrive. the growth in these programs well bankrupt the country.
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we have myopia and television and self interest. we need political reforms as well as fiscal reforms. you have to have effective mechanisms that force people to treat the disease. we have common situations. huge unfunded retirement operations. david walker, great to see you. police are hunting for the driver responsible for nearly a dozen random drive-by shootings. papa john's losing the founding father.
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a manhunt underway in california for someone who is randomly shooting and
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drivers. lauren simonetti has the details. police in california say there were at least ten random shootings targeting vehicles between november 27 only one injury however. police want to stop this before becomes a murder investigation. a dark-colored pickup truck with oversized tires. and the person or persons shooting in that vehicle are shooting at other drivers. more than 90% of our federal prison are in this country illegally. this proves why the u.s. needs to follow through on president president trumps proposed immigration reform by the end of this year known or suspected foreign nationals well have been in prison here in the u.s. a family in ohio.
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is giving a clever gift to their schoolteachers. our child might be the reason you drink so enjoy this bottle on us. that is a big hit in the school and on social media. with just three days to go are you dreaming of a white christmas. the christmas forecast. i've got to get to where i'm going first. mrs. clause is on it. we're the current temperatures across the western half of the country.
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it will be cold enough for snow as we get into christmas day and the day after. up towards the great lakes in the northeast. today's travel plans let's see if my map moves. this is today. that's when we have all of this rain along the coast. the cold air will filter and on sunday and monday. we mentioned in the southern plains all the way up to the northeast. saturday along the eye for detail in the corridor. it is going to be warm for rain.
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if you live across the great basin interior northeast and new england we already had that snow. there is the white christmas forecast. there is a chance for snow on christmas day my friend. coming up will it didn't vince mick to man lay the speemac down on the nfl. hitching the ride on the crypto currency phase [music] ♪
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[vo] progress is an unstoppable force. the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event.
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breaking news overnight sports casting legend dick enberg has died. digging, good morning. his wife was with family waiting for his flight to arrive from cynical guests or date but he never made it to the plane. he was found dead in his home in la jolla california as his wife barbara told that san diego tribune. never flashy always classy he covered ten superballs. the olympics golf, san diego padres baseball. say goodbye and all my last might -- last year.
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before he began his 60 year career as a sports caster he earned masters and doctorate degrees. his autobiography the beloved michigan or wrote. you have to be entertaining. you to be well-informed. and you have to have a sense of your audience just like in a classroom. he said i'm looking into my classroom. perhaps we need to explain that concept or strategy a little better. papa john's counter is said -- stepping down as ceo. he came under scrutiny when he blamed the third quarter's sales on nfl protesting the
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prominent sponsor of the nfl his comments led to a neo- nazi group. he will continue to serve as chairman of the board the ceo steve ritchie is going to move into the role. he is his sold hundred million dollars of shares the sale is primarily to fund a separate entity. mister mcmahon established across the sports and entertainment landscape. back on december 16 there were trademarks filed for five different things relates to the i want to get to the story. the nascar legend he scared away three masked men trying to rake into his home on
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sunday night the dave said county sheriff's office said that it was broken. fired three shots at the three. very experienced shooter. grabbed his handgun and here is their quote. the only reason he and his wife were here today was because of god, and the second amendment. there's a 10,000-dollar reward also for them. a lot of great stories here. part of the soundtrack of your life. he did feel like you speaking right to you.
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some new movies also. he always played himself. celebrating his life. it put a smile on all faces. his mom used to say oh my because it would be outback. jared max is sports reports. this nativity scene going to viral this morning. just in time for christmas.
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when you're expecting... a teenager today i'm going to show you how to teen-proof your home. first step: hide the car keys. preferably somewhere they would never look. challenges will come up. be ready for them. hi honey, i'm ready for the mom, you don't use mannequins in the mannequin challenge. announcer: you don't have to know it all to be a perfect parent. thousands of teens in foster care will love you just the same. dagen: welcome back. i'm dagen mcdowell in for maria bartiromo. it is friday, december 22 top stories 7:30 a.m. aaron president trump may sign sweeping tax bill into law before christmas. senior white house official saying there is a good chance
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signing could go down today a day after lawmaker averted a o government shutdown pushing a key spending bill into new year futures gains across the board, have to morning, the nasdaq 100 right now unchanged, so muted reaction in stocks the dow futures up 5 points after a 55-point gain yesterday. on thursday. in in your opinion losses to report, across the board, england france jamie asia overnight, a different story stocks there mostly higher in japan hong kong and south korea bitcoin plunge cryptocurrency plunge 25% in 24 hours hitting a record high at start of the week, we are going to talk to a car dealer now accepting the cryptocurrency as payment o what volatility could mean for his bottom line, in oprah, only one and only speaking out warning online residence
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followers not to call for social media schemeers. >> hi i want to you to know somebody out there is trying to scam you, using my name, and my avatar on social media. asking for money, if you sign up for an account on instagram it is a grawed it is a fraud it fwraisd ♪ don't believe it don't dwif up any of your bank accounts or personal information, to anybody. he posting as posing as me or anyone else for that matter have a merry christmas. >> oprah, pap, aiming to one-up google maps debuting a feature for jett set% giving a detailed look inside more than 30 airports that story ahead it may be the cutest nativity seen ever not just this year, ever, one pet grooming service adorable canines nativity
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scenes, the image is going viral. we have that coming up for you. >> first our top story this half hour, is -- christmas gift for homeowners president trump may sign that historic bill into law today, but what does it mean for homeowners joining me is you president and founder of property tax reduction consultants, what is the biggest takeaway from this bill? the biggest thing, is mortgages deduction from a million dollars to 750,000. >> biggest thing i can tell everybody right now, is pay your 2018 tax bill now, you can get that deduction, on your 2017 taxes, that is the biggest thing, a lot of people don't really realize that they could pay that tax bill in advance yet a credit on federal taxes -- >> you are saying that people are rushing before the end of the year to do that. >> wonderful woman does my taxes in minnesota hand ir block left a voice mail you
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need to pay taxes for 2018 this year how much -- and depends on size and scope how much we talking, talking about -- >> thousands of dollars people can save right now, i mean, to do this and pay up front, i mean you got to get down, to the tax receiver before end of the year to get tax deduction can you need hurry up get down there pay that bill. >> so moving forward, though with the reduction mortgage interest that you -- to 750,000, and then the cap, on state and local taxes, property tax, 10,000 dollars, do you expect home prices to decline for some really high cost areas. >> yeah, i really expect values to go down between 10 and 20%. you know, where? . >> high states new york new jersey, california, florida, you also have to remember this mortgage tax and the property tax is -- on your primary house and your vacation house
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a lot of people own vacation home when you put two homes together, 10,000 dollars yes a lot of money but when you put two homes together, i know adds up quickly. >> this is clearly an issue if you are the powers that be in new york new jersey connecticut california. you don't want your property values going down because of this quirk in the tax laws, what do you think the state coulds or should do, regarding this without shooting themselves in the foot, by reducing revenues what can they do here? >> well, not much they can do they need to collect money for the school districts we want to pay the teachers we want to pay the police officers. i know. it is not much in can do just that values of going to go down, and first time homeowners hit very hard, because the first thing anybody ever asks me, is how much is my taxes on the house i am about to buy, so it has to hurt them. >> do you think going to be the property values at every level or just those that are going to be mortgages over
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700,000 -- >> i think every level got to trickle down, i mean hard enough, for you know new homeowners to buy, senior citizens taking out mortgages on the house to pay property tax bill. >> i mean it is very high. >> in today's -- there are others don't have -- in florida don't have same high tax rates that these states do manage to go pay police teachers aren't there not significant things that new jersey, new york california could do to get out from underneath this burden that he created for themselves. >> they have to go to unions get stuff back from unions. i mean -- it is in their -- >> new york -- new york city, i have to use new york city as an example i think in the last, several years, the city o budget has gone up 24, 25%. this is a how much spending is increased, with the literally thousands of people who are added to the government rolls in new york city, so with all
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due republic with due respect don't sell me going to starve police officers firefighters this is a spending problem quite frankly maybe this will bring the tickets home to radioost, i communities gets spending in line a break to people who live here. >> i believe that, if we can get cut spending it will help, the property taxes. you know. that is what they need to do they need to look at their budgets say okay where can we cut spending right now spending, for everybody, about since bridges everything we need to cut spending. >> i will -- this is some information that you brought up, in new york city for example 64% mortgages on homes sold this year over 750,000. so over that cap. in san francisco 58% maybe you could argue that lower priced homes that they become even
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more overvalued because people are just people are trying, are deciding to if they are going to buy something, then going to make sure that that mortgage is within that narrow frame or areas outside of the city, benefit people moving to kind of eastern pennsylvania, trying to find places, and living in jersey. >> the biggest problem here is the property taxes go up ever single year, i haven't seen a place property taxes have not gone up so this year, they might be under 10,000 dollar, next year or two years down the road, okay, it is going to be over10,000 dollars goes up pretty quick, you know 10% every year goes up very, very quickly. >> you had corporate folks, worried about -- say silicon valley type company saying we don't know if we can hire high end people they don't want to move to california is that an issue something to mitigate that? >> people have talked to me about it, you know amazon was
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looking to move to that, or prices, you know here are very, very high. you know, if in california, house prices very high, to get that talent in they have to pay more money. >> that -- >> not great if you are a stockholder but if you are talent that is what we're talking about raising ib sfwhiejz if those house prizes drop up to 20s% -- >> but you know it is local not national, and you know what those republican lawmakers from all states, who are not elected officials in this state they know that, thank you so much good to see you. >> thank you very much. >> coming up oprah after instagram imposter. >> it is a fraud don't believe it don't give up bank accounts or personal information. >> queen of daytime tv is proving yet again there is only one oprah, and hark the
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herald angels signing story behind this adorable doggie nativity seen viral in time for christmas ♪ joy to the world ♪ ♪ ♪ infrastructure mlps? think again. it's time to shake up your lineup. 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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ceiling. . dagen: just in time for holiday travel a cool new feature from apple maps lauren simonetti has details. >> finally, a cool feature from apple maps app that helps navigate through airport terminal where is nearest starbucks to make the gheit in time indoor map eyer lets you see around your gate restaurateurs hours find out what is near other gates and as you start walking information adapts to your new locations in real time. this app also shows you how to get to the security checkpoints, check-in desk
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beige baggage claim convenient. >> oprah warning followers of imposters fiscalers demanneding money for social media accounts don't fall for it. >> hi, everybody, i just want you to know that somebody out there is i trying to scam you, using my name, and my avatar on social media. asking for money, if you sign up for an on account on instagram it is a fraud it is a fraud it is a fraud don't believe it. >> working with the social media companies to de. >> the a accounts love this season posted a four-legged nativity scene six dogs towels blankets over heads the robes the best part look at puppies in manger in the back in the
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middle, wags to riches pet services name of the company costs this earlier in the month shared over 6,000 times. dagen: i love this so much. >> cute. >> i love it so much. >> little face. >> my. >> little face in manger. >> exactly right -- >> hire them, good at their job. >> you want. >> you know how you do it, anybody who is taking photos of dogs you hold up a bag of treats like this -- >> treats, on way to me not sitting for picture. >> sit, sit and hold up bag of treats. this is a -- a few seconds. >> exactly to get all doing it at the same time. >> won't look at camera. when you say one, two, he always goes -- looking away. >> working on that. >> by the way, anybody in new york city area we had the couple of dogs from animal care centers on here in about
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new york city, marris kelly for adoption, so -- if you if if you have room in your heart and your household, for a rescue dog or animal please think about it. >> cryptocurrency crazy revving up, do they have -- fire? find out next. ♪ ♪ ♪ i am totally blind. and non-24 can throw my days and nights out of sync, keeping me from the things i love to do. talk to your doctor, and call 844-214-2424.
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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
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dagen: breaking news president trump just tweeting this, a big very particular tax tax cut reform bill has taken on an unexpected new
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source of laws that big companies corporationshal shallowoing workers with bonuses a phenomena nobody even thought of, and now it is the rage, merry christmas. president trump. and i point this out take a look at this this is an ad "new york post" today, from boeing, thank you, mr. president and congress because of your leadership on tax reform boeing announcing investment of additional 300 million dollars to driveings innovation and benefit our employees and our communities. there you go. thank you, mr. president. and congress. bitcoin not love a reality check prize sky roktsdz near 20,000 dollars last wrooek a cryptocurrency is getting a be ther beatdown hovering around 13,000 dollars, buzz does keep growing one upstate new york radar dealership getting into creates a accepting bitcoin for car purchases, joining me
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is owner of michaels auto, rue -- eugene you have a sold one car worth less than 24 hours ago? >> good morning to you. we just announced this past monday that we are going to start accepting the bitcoin as a form of purchase of a vehicle and we drummed up business interest from customers out of ohio, south carolina and maryland. >> have i accepted bitcoin for a purchase this week. >> not yet, not yet we are working on it. trying to finalize details behind it going to o come to fruition near future. >> in my opinion smart move to he differentiate yourself get attention you are right bitcoin community is type they want to support places supporting it ultimately to back currency people have to transact in it when do you a
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trans action in bit cohn do you plan to hold it where it is an investment or are you going to kind of try to bring it back into the dollar? >> a great question, so we are not in investment bank we are just looking to facilitate a transaction reach potential consumers we normally would not be able to reach when a customer from ohio skids purchaa vehicle from us transfer funds from digital will wallet to bank account not looking to speculate. >> hope not you would have gotoen shirt handed to you something else in last week or -- >> i it can customer paiz bit coins i am look being not using bitcoin price, and you the was a 15,000 traded down almost 12,000 back to 14,000 how does this work? a buyer watching this and saying it is down to 12 buy
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now, you know i will buy two-bit county -- you know two, bitcoin you are paying your suppliers your employees in dollars i would assume, how you hedging managing this what is the plan. >> so the plan is let's say a customer let's say yesterday was 17500 dollars as soon as that person that he or she transferred funds into our wallet we immediately transfer back to bank account will not be sitting on the bitcoin waiting for it to either appreciate or depreciate. >> i it is to up customer. >> if price 10,000 dollars you look at how many bit coins to send to i value of 10,000 dollars for that transaction. >> exactly, so if value bitcoin that moment is 20,000, he or she would transfer half a bit county to us, and we deposit that into accounts. dagen: the issue is so volatile, that you could end up with more actual purchase price less than actual purchase price even in interim
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as this transaction happened. >> dagen that is in our opinion the cost of doing some business, we want to take our company from regional player into a national firm we want every person that has bitcoin and wants to spend bitcoin to think of michael auto plaza purchase from us. >> great marketing. >> great marketing that is what i was a going to ask you about, is tell me about the percentage of increase of leads that you have this week on new cars as a result of this getting that attention that you otherwise wouldn't? >> it is that is exactly what we're trying to do reach customers normally wouldn't reach some people call ask what is bitcoin is it a -- can i get coins online -- seriously reaching customers normally wouldn't think of us that is the point behind it. >> you got to be on the tv. >> do you know we know that business is going to be is online future of all business
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we are basically upgrading web site, and marketing geared towards new technology bitcoin is a about natural progression. >> witch my wife happy birthday monday, baby girl ana recess. >> happy birthday to her final thoughts. >> here is you know, against tax cuts i am not just a slow me situation, i think the clock ticking for republican party to start taking effect and working markets the to keep going higher, otherwise facing november and look at what happens ironically if that happens perhaps we are looking at a situation where markets say the republicans are going to lose power need to sell stocks, so it is delicate balance i am doing best to be optimistic here we
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are, let congress do something about chip here i want to see this work out. >> mcconnell talking about five year extension of that. >> very important. >> yes. >> thanks, still ahead merry christmas. >> dancing to malls why waiting until the last minute would pay off this christmas next hour on "mornings with maria". ♪ we can build a snowman, then pretend ♪ you say are you
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♪imagine no possessions ♪i wonder if you can ♪no need for greed or hunger ♪a brotherhood of man ♪imagine all the people ♪sharing all the world...you, ♪you may say i'm a dreamer ♪but i'm not the only one ♪i hope some day you'll join us♪ ♪and the world will live as one♪
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>> good morning, everybody. i am dagen mcdowell no for maria bartiromo. it is friday, december 22 top stories 8:00 a.m. eastern. ready for the president signature the commander in chief may sign the historic tax bill into law later today, president trump also set to give approval on the stopgap spending bill lawmakers avoided a shut down, reaching an agreement to keep the government fund through january 19. the president tweeting on the tax bill this morning, saying a big very popular tax cut reform bill taken on unexpected new source of love, that is big companies corporations show youering workers with bonuses, this is a phenomena that nobody even thought of, now, it is the rage. merry christmas. vice president mike pence, making a surprise trip to afghanistan. >> it is because of all of you
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that we are safe. it is because of you that we're free it is because of you that freedom has a future in afghanistan, in america and all across the wider world. and today let me assure you president donald trump is the best friend the armed forces of the united states will ever have. >> details as we thank heroes this holiday season futures showing muted reaction there the markets essentially flat at the moment the dow did eke out a 55-point gain, yesterday. again we started this week, with the markets hitting all-time highs, across the board. in the united states, over in europe losses to speak of, asia overnight, different story stocks there mostly higher. changing the alphabet eric schmidt nounsing he plans to step down as executive chairman next month we break down decision shock waves
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through o silicon valley, crypto crash bitcoin tumbling 25%, in 24 hours not just bitcoin a tumble a lot of major cryptocurrency,alt- cryptocurrency. >> ask is. >> the first deal with request record label for your contest to break it down, all morning long, president lee carter, afghanistan account receivable veteran the co-host of "fox & friends" weekend pete. >> this fellow political editor fox news contributor we are getting to it talking about taxes democratic governors lawmakers we can principal hear them screeching out of window, about the world is going to come to an end it is of their own making i can't wait to talk about that. >> totally when you call seems to meing armageddon
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apocalypse, 80% americans get a tax cut all businesses running to up pay bonuses increase wages armageddon going well -- >> armageddon is where i am buying my vacation home. [laughter] top story, merry christmas america president trump will likely sign that tax bill today, as vice president mike pence visits our heroes in afghanistan blake burman live at the white house, with the very latest on the holiday cheer, blake in. reporter: hi dagen, good morning to you expectation at the white house, the plan is as i was told from senior white house official moments ago the president will indeed sign this tax bill, at the white house here later today, however, there is nothing officially on schedule that shows him leaving for florida for his christmas break in the two hours 10:00, so i guess we will see how this plays out here over the next couple hours, speaking of being on the move the vice president mike pence made an unexpected trip yesterday, to
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afghanistan. there he met with leaders on the ground also thanking troops half a world away the vice president made sure to out to those tax cuts. >> to tout tax cuts. >> on heels pacific the largest tax cut from american history i can't think of a better way to end 2017 being among greet americans able to celebrate, the progress of country. >> tweeted about tax bill minutes ago the president writing and i quote this morning big very popular tax cuts, raevenld bill has taken on unexpected new source of love, that is big companies corporations show youering workers with bonuses a phenomena that nobody even thought of, and now, it is the rage. merry christmas. so we await to see if and when the president will sign the tax bill it is customary a year-end he press conference before heeding out for christmas break nothing though
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on the president's schedule there. >>: blake burman, thank you so much, good to see you. >> you, too. dagen: we heard president possibly sign this tax bill today. finish let's pick up discussion where it was, again, armageddon frankenstein's monster, illusions to tiny tim heard that from nancy pelosi. >> rhetoric has been over the top i think if flaws in the tax plan not perfect but compared to what the democrats have been saying no resemblance to reality i think overall a good bill going to help economy, and thing is when you look at the timing, is it today i think seems like the president initially instinct to wait till after holidays get year off on a strong footing saying, here is a big event i am signing tax cuts into law mining everyone from holidays this is a huge accomplishment but my
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suspicion they want this signed into law as soon as possible, because implementation quick logistically hard to do, so the more days that they have between now, and when some stuff charts to change next year a better this is a probably why getting it done as soon as possible. >> i think makes a lot of sense one of the things looking at nancy pelosi rhetoric i think -- the president the season i ray they have criticized president about crazy rhetoric she is saying frankenstein armageddon guess what we are talking about nancy pelosi, in a way that -- is consistent and she is changing the narrative, i am looking at taking from the president's playbook. >> can she russians ran on russia, russia russia a year. >> democrats democrats ran gins president sorry about that, trying to make this tax bill look unpopular. >> president reading mind tweeted again, some point for the good of the country i predict we will work with the
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in thats in you a bipartisan fashion, a perfect place to start having spent seven trillion dollars in middle east time to rebuild, our country. >> the -- what you talk about nancy pelosi, and i hear the rhetoric out of democrats this if economy -- for self-interest, rooting against the american worker don't really don't want these raises passed to people 15 dollar minimum wage, at wells fargo, they want it to fail. so they can win take the money back, and keep more money, that is really the message. >> out party has some interest, in the economy not doing well so you can run sort of indictment, both do that sort of thing has been fun watching the democrats, moving shifting the goalpost from this is the worst thing in the
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history of bill might kill people to oh armageddon pretty bad not going to pass down awful businesses not create jobs not going to pass down wages to people, on bonuses anything like that now saying oh well it is only 1,000 dollars, the tax cut -- it is only still -- one time thing. >> 2000 for the year pooh-poohing one to two grand for average families in this country i don't think this is a good messaging. >> they can put on sweatshirts say we are -- we are really elitist nancy pelosi, dianne feinstein, deeply upset tweeted about 750,000 dollar he mortgage deduction lowering a quarter of a million dollars, when in fact, 750,000 the -- average home price of median home price one-third that have. so again, elitist living in -- a bubble all constituents super rich. >> we with hear from i think
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the president is always going to go a little bit far rhetorically tweets about how popular the bill is it is not it is unpopular tax bill for now, the reason is democrats media beating the drums, down playing the good news in the bill and playing up some concerns about the bill, that is why if you look at latest "the wall street journal" poll only 17% americans think they are getting a tax cut when 80 -- >> you have boeing taking out this ad in newspapers of the 300 million investing 100 million of that putting into workers, boeing knows that this is an incredibly vibrant competitive economy, and they need to pass on this money, to workers and, again, another talking point that you hear from the left, and hear from democrats is they are this is straight from chuck schumer goingpl buy back stock from it. >> so far -- might be some
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companies do but, again, most people in this country work for private businesses, we want our companies to be health and prosperous have money to pay it back to us, in the form of wage increases better benefits that is what this does. >> the proof in pudding i say product doesn't speak for itself if you don't tell your story summome won else will geta that companies are telling stories about how this is benefiting the people, so many people doubtdz big companies to do right he thing with tax cuts one by one seeing them doing right thing returning money to investment to their employees, and that is what the republicans said was going to happen, the democrats said big companies evil never going to do right thing we are seeing it. >> they have to keep doing it, going to matter, really is. >> i want to turn to this story i know everybody wants to get in on it, some developments surrounding the controversial uranium won deal nbc news reporting the justice
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department officials are asking fbi agents about evidence uncovered in probe of the uranium one deal the question after assistant attorney general told a house panel last-minute torrential jeff sessions directed prosecutors to determine if another special counsel was needed to investigate the deal happened while hillary clinton was secretary of state how big a development is this? >> o i don't think we know yet. >> we don't have enough information, there directing people to look at new evidence, that may or may not have been uncovered see what that new evidence might be, a couple weeks ago might be months at this point blows together shepard submitti arard fact check, some claims conservatives made are exaggeratored a lot evolve bill clinton money made clinton foundation there is a sting to that thing money coming into clinton
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foundation, favors being paid out some involving the clinton state department i this i she paid darrell for appearance of impropriety in the election whether crimes up not convinced of that but if there is more evidence, this could be significant i am waiting and seeing. >> hopefully a time real investigations are going on not the politically mined ones we saw under previous administration a welcome change hopefully par it. >> alphabet scoop eric schmidt stepping down as executive champag chairman, we will look at what is next for longtime google leader new feature that sure to strike a chord with fans allowing you to create sound tracks on the social media site. ♪ ♪ ♪ at fidelity, trades are now just $4.95.
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and at $4.95, you can trade with a clear advantage. - [ncharacter look like?our does it bounce back after each setback? does it stand out by standing up? does it make good on good intentions? character is invisible until it's not. only through action will the world know what it's made of, what you are made of. find out how you can strengthen the character of your community alongside empowered veterans and families of the fallen at travismanion.org. ♪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
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♪i do it for you ♪yeah, i would fight for you♪ ♪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 exaggeration. . . >> t minus three do as until compromises will rushing to get to stores, to get last-minute shopping done, jeff flock from a mall outside of chicago, how is it going there jeff in. reporter: the -- legendary mall in chicago suburb illinois dagen, as you can
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see, the doors opened few moments ago, so not a whole lot of folks in here yet i tell you going to be a couple of crazy days of shopping, why? here is good news if you are a o procrastinator may be not, 61% america krorgd to national retail federation says they have done christmas shopping isn't that wonderful, another 12% says going to do it today, then on saturday, what is known as super saturday another 16% said they will finally finish last laggard 6% say they are not going to finish till christmas eve that comes on a sunday, are to look where people will do their last-minute shopping, believe it or not, you think would be at mall number one choice a lot of people will but 51% sigh will shop last minute online get it dlifrelivered superstat big day two days of shopping before christmas saturday and sunday off days
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126 million people say they are going to shop on super saturday. a crazy number maybe should be crazy at the malls, the malls and the retailers winners i leave you with stock boards maybe macy's he kohl's gap just three of them, they are all up double digits just in the last month. going to be a happy christmas i think. the mall for the retailers, and hopefully for people buying the stuff too. >> good, buy gifts. >> i'm done if i get older i finish sooner. >> one of 61%. >> there is never a dean get an extra gift. >> stocking stuffers. >> idea. >> i am telling you one of the ex-wives great idea. >> you apply your ex-wife gifts. >> a good year i do my one might have ex-wives coming for christmas dinner to current situation, so there you go.
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>> wow. >> you are a good man i love you jeff, that is why. >> whole on the matter. >> you know a merry christmas and happy holidays to your mom. that is a greatest compliment. >> your top drawer. >> greatest compliment i have ever gotten, in my tv career. and i literally said, that is why we do it that is why we do it is because again communicating with people like your mama. >> never know who is exactly, she just feels she resonates you resonate with her, she is not a news wiz she is 93 resonate with her with me too. >> always. >> person on tv we get along like this thick as thieves. >> i love jeff i though i ab incredible -- >> i love that you said that. >> you didn't see video we i am sorry we don't have it but
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he surprised his mom after the hurricane, in florida. he drove up and she said, unexpectedly she started weighing in loves varney, and said oh but dagen is dop drawer called me top drawer. >> chopping you done. >> i am not done going a lot. >> i am not done -- >> i took a a chunk out of it but not -- >> i am going to top shop down street british chain love it. >> i got to say always have gifts excited for every person in this year i haven't gotten a thing, making me crazy. >> black friday you usually hit those sales. >> i do, i am paying dearly. >> coming up google story end of era at alphabet, the executive chairman eric schmidt stepping down from his post, the stunning announcement, we big into his plans for the future and
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bitcoin losing some shine the price plunging losing 2000 dollars in 12 hours. is this rally really fizzling out? we discuss. ♪ ♪ another day of work. why do you do it? it's not just a pay check, you actually like what you do. even love it. and today, you can do things you never could before. ♪ ♪ you're developing ai applications on the cloud. finding insights hidden in decades of medical documents. and securing millions of iot sensors. so get back to it. and do the best work of your life. ♪ ♪
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>> u.s. military in south korea inside warning after north korean propaganda appeared on military bases military says prop disband of a leaflets cds discovered on multiple bases in south korea, the military service members there are warned to stay alert, potential insider threats. >> u.n. security council plans
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to vote on a resolution to impose new sanctions on north korea this afternoon, the to ban 90% of refined oil products exportdz to north korea expecting a 700,000 barrels a year force north koreaance overseas to return home within 12 months china signaling it is ready to support the sanctions. >> surprising announcement from google alphabet company says executive chairman eric schmidt will step down next month, three years after company was founded alphabet says schmidt will become a technical adviser continue to sit onboard the bitcoin breakdown prices plunges 13,000 dollars losing a third of value this week way lone amid talk of a bubble. in fact, bitcoin lost a quarter of its market value in past 24 hours.
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volatile investments lots of question marks many rivals, along with price of bitcoin i remember the beginning of the year dagen was 1,000 dollars. then up to 20. >> crazy; right? >> it -- excuse me not just bitcoin all the a lot of big al.t.-coins cryptocurrency, ether 26% loss 4 hours, light coin down 3 % creator has said every crypto bull run i have seen followed by bear cycle been warning about the mainstream exposure thank you lauren so much, sued over charge apple facing class action lawsuit over iphone brooerlt scandal company says it slowed down models of the phone tax reform in time for christmas president trump could sign the tax bill as
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early as today we talk south carolina congressman about the legislative win for republicans next. ♪ ♪ the moment a fish is pulled out from the water, it's a race against time. and keeping it in the right conditions is the best way to get that fish to your plate safely. sometimes the product arrives and the cold chain has been interrupted, and we need to be able to identify where in the cold chain that occurred. we took our world class network and we developed devices to track environmental conditions. this device allows people to understand what's happening
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for maria bartiromo. it is friday, december 22 top stories 8:30 a.m. eastern. a christmas present for americans signed delivered and sealed, president trump will likely sign the historic tax bill today before heading to florida, for christmas. after the vote to aveterrteran government shutdown. >> are there senators not chamber wishing to vote or to change their vote in not yeas 66 nays 32, the motion to condition occ. >> concur agreed to -- >> checking marking into the weekend, markets closed on monday for christmas, gains to report two point gain on dow futures industrials blue chips up 55 points yesterday, in europe, we have losses to tell you about in england france,
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germany in asia overnight opposite most higher there shanghai composite being only loser. apple hit with a class action lawsuit over its phone slowdown, the fallout ahead. getting into the music business of social media giant finding a linesing deal allowing users to upload music to posts top story this half hour president trump may sign, the sweeping tax overhaul bill into law later today, it marks a major legislative victory for the trump administration in time for christmas. joining is this morning, south carolina congressman mark sanford congressman this is a big christmas gift to the american people. what are you hearing from the businesses in the state of south carolina about how they are going to spend their tax cuts? >> well, i just got home late last night so i wouldn't say that i have had a lot of conversations with folks at home, since the bill passed the house, and senate but what i say anecdotically they
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expect to do obvious if you have more in pocket whether individual or as a business, you use it and in the business sense you invest it, that is what i have consistently heard throughout the debate and businesses at home. >> congressman i am curious about something president tweeted infrastructure being next on the agenda. look i am all for this tax bill, it will add some amount of money to deficits probably hundreds of billions of dollars we can dispute how much, but if the next agenda item is a giant spending bill on infrastructure, at what point do we get to fiscal restraint ever from the republican party. >> we better. because what this bill represented tax bill that is was say we are going to cap out relative to the size of the overall economy what government takes from you and me and businesses, and individuals across this country. the problem has been on spending so we have been you
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know taking in 18% gdp in spend about 20. the numbers over next 10 years o projected to writes to 22 1/2% if we don't get arms around spending we will have profound props tapping off unpaid infrastructure bill would be a huge problem. >> it is -- so in talking about tax bill, and talking about infrastructure bill you explained a little bit but what point do we get to a place where republicans or anyone are able to restrain spending are we having to hit a crash is something bag having to happen what is it going to take. >> i mope note the hope of tax bill two ways dealing with debt cutting spending we have to do other growing the economy. in the premise of this bill was if you look at the are congressional budget office numbers what they project, this is a over the next 10 years, our economy with he would grow 1.8% the premise of this bill that we would bump up a bigger growth probably
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not as grand as some suggested so in a you have more in the way of cushion because if you don't, think about this. not so many years ago 2007 we are at 35% debt to gdp we are currently about 77%. without the tax bill we go to 91% debt to gdp based on present trends in spending we will go up to 96% with tax bill 5 point difference either way, if thank you get to 90% debt to gdp you have profound problems, so you know, we are at a tipping point as civilization got to get spending under control. >> getting spending under congressional means tackling entitlements 80% growth in spending in this country next 10 years, comes from health care, medicaid medicare social security, and interest on debt, mitch mcconnell is unlikely to push for social security and medicare changes next year 2018. >> well, again i go back to --
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i guess churchill observes the american political system always does right thing comma, after exhausted every other possible remedied i think a lot of denial on need to address exactly what you raise entitlement spending but the math is compelling we feel need to do so with tax bill you can argue for against tax bill again what it did was with a fundamentally hold constant what government has been taking in as a percentage of the economy for about 50 years, the part that is in place on spending we will have to address entitlements. >> the math would suggest thavk we have to get something done but electoral map elections have to happen would suggest really hard to get that done, because this is going to be so wildly unpopular how do you sell it and stay in office. >> i have a bill penny plan says, one of the problems we have in washington right now is it is republicans versus
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democrats south versus north name different factions, everybody feels like in their own boat. and yet if you look at the challenges that were mettime of world war ii, people rose to the occasion felt like in the boat together so the penny plan says if you took a penny one penny, of spending, from the government coffers for each next five years you would have a balanced budget everybody in same boat together until you do that people say i go the to protect mine as long as you are protecting yours take one penny off every dollar spent that the plan. >> correct puts into affect -- einstein was asked most powerful force in universe compound interest. >> puts into effect impounding limiting government as opposed to growing government. >> leader with of the party is president the president campaigns on not you touching
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some of these really big programs that we have been talking about here, so i agree the math that you ran through you call it compelling i am onboard with you, i am not sure the president finds it compelling, if he is at the tip of the spear of agenda where i am concerned is this a about realistic political peeblt in tough election year for republicans plus a president o who is lukewarm at best on this idea? >> all i would say the president has proven to be elastic any number of issues pluses or commitments i think he is a business guy would be my hope would he look at numbers would say well you know, i thought this going in, but if you look at the numbers, about the absolutely rock-solid we have to do something, if not financial markets will will do it for us history of these things -- >> listen. >> -- the problem i know but the problem is i have been
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talking about this since financial crisis. is watch the yield on 10 year treasury, how much does it cost to boro in this country, right now, it costs the united states less than 2 1/2 percent annually to borrow for 10 years, roughly to yield on 10 year treasury below 2 1/2%. until some sky being skyrocketing longer term interest rates nobody no d.c. is going to do a doggone thing you quote einstein churchill they are not ring the government that is what the problem is another problem, this is a story that is in politico the republican national committee leader romney mcdaniel reportedly was hand you delivered a moemo, to the white house outlining the gop collapse with feel voters, what do you make of that what do you think can be done to combat the problem? have you seen that across the south? >> there is a lot of media
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hyperbole out there i don't know this is a complete collapse i've got a lot of supporters members of congress male or female case might be i think this is researching scandal that has been swept under the rug, rather to settlements most members -- i didn't know this fund existed most members i talked to didn't know it existed have gone to desantis bill need full in terms of saying shut spigot off on september money go back 20 years look at anybody who got money and used it, taxpayer money for personal gain, and lets you know let's -- recoup monies have everything transparent going forward i think, what you could do what you can do i think this bill does it, and i understand why there is you know, there would be sloechl added -- level of added distress. >> you are talking about in
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particular in the senate, the senate has paid out nearly 1 1/2 million dollars in assessments discrimination o settlements since 1997 even though didn't win in alabama somebody like roy moore accusations against him again at least turns some female voters off. >> i think you know, all politics indeed are local, and so you know, each congressional district you know, is based on the math and the sentiments of that congressional district some nashized in terms of view towards or begins infrastructure bill much is based on the way in which that member has or hasn't conducted themselves in their district the relationship with he folks in that district, so i get it people are upset with this rightfully so i think change
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coming with regard to this fund shouldn't have been there first place i don't know that you see a wave in terms of what might happen the bigger wave on taxes and others -- >> one reason people get upset because taxpayer money! . >> i am with you i am with you. >> it is our money, give us our money back, stop paying settlements with it, regardless what party you are in lee. >> i mean look, the democrats already -- >> i complete agree let me be clear. >> that is why i went on desad dedesantis' bill. >> the women's march women's issues all about women and yet, the republicans i think a huge opportunity right now to become a party of opportunity, child care tax credit powerful women in republican party on the rise, nikki haley look at ivanka kellyanne conway, massive achievements i don't think we capitalized on that yet republican party think if
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you are people i think if you are a woman a republican must be something wrong to me a big problem that republicans in congress you all need to capitalize on. >> final word congressman? >> i don't know -- i don't know that i accept hypothesis says if you are a welcome or republican must be something wrong. >> i don't either. >> a lot of pim first congressional district south carolina that are republicans quite proud of it. >> -- that is a good lee was talking about a problem, the way that the republican party has been branded, and republican women you need to kind of reverse he message that as party. >> merry christmas happy new year congressman mark sanford, is this a bit county bust? >> stuart varney will weigh in new tune for facebook details on company land marked video to aallow users to choose
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sound track to their lives. .
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dagen: apple facing class sacs lawsuit over iphone battery scandal nicole petallides with more. >> scandal the right word yesterday, it seemed so plain jane that apple said, listen we are slowing down older phones we are doing that, to save your battery don't want it to shut down, on you unexpectedly so the idea seemed very straightforward. but now the class action lawsuits are coming in they have a couple in my hand here one no chicago, one in l.a., and the idea behind it is that apple was quite deceptive never this was never requested it was never agreed upon, that this would happen.
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so they are saying i am moral unethical apple is down 1/10 of 1% has a lot of questions to face, probably in court, facebook has a deal with universal music multiyear licensing deal. >> thank you so much nicole. >> a crypto crash bitcoin tumbling 25% in 4 hours does this mean bonanza coming to an ebbing mr. stuart varney. >> i am not going to answer your question but i am going to say that yesterday on this program charles payne brought us the story of theing onno long island ice tea company on wednesday when it was trading 2 bucks a share changed its name to prolong blockchain, they incorporated the name blockchain into name stock promptly wouldn't straight up 183% i think people took a
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look at that kind of thing said this is a bubble i think that was peerlt responsible for selloff in bitcoin on screens right now, we have on show today, patrick burn, founder of overstock.com, he has got an app going to allow people to exchange and pay for things between individuals using bitcoin or his own cryptocurrency and the stock overstock.com down 6, 7% this morning when a item tumble crash correction downside action in bitcoin as of now. >> not just bitcoin. in terms of cryptocurrencys, 31 digit currencies have more than a billion dollars market value 29 of them are down. >> yes. >> ethos 26% loss in 4 hours
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losing a third value not just last day it is last several days, so -- >> i just wondered how many of our viewers learning of this dip will buy the dip? buy into bitcoin all over again expecting it to go back up again how many will do that? i don't know. >> we worry about mania worry about excessive summatipeculatie worry. >> at my age i remember the up to a ill ma-- the mania. >> see you 11 minutes from now 11 1/2 minutes "varney & company" every day 9:00 a.m. eastern coming up, beginning to look like christmas here fox business we catch up with familiar faces, and fox news find out how they are spending their holidays. ♪ ♪ cannot live without it.
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dagen: security lines chicago o'hare airport whoops, camera -- >> this is a wonderful time of the year a time when we celebrate and family and friends lauren simonetti, asked people about special memories. >> i love the chaotic scene at the archetype trying to get through new york city getting to destination you forget what is really important, about this time of year. we will call it the christmas story going to show you in a
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second, but there is one scene here, one word. food fight here we go. >> may favorite christmas memory i have entire family around the table we are having christmas dinner what can i say basic but this is a favorite christmas memory, knowing that every christmas i am going to be with entire family, around the table, and doesn't matter what we did that year, who we are, what we are thinking about just being with people you love my favorite christmas gift ever received was when mom taught me about buckets, have one bucket of savings money one bucket of money that you need that you don't touch retirement third bucket is charity was that bucket she said to me go look at all your toys must have been six years old see what you don't want anymore you want to give so somebody not getting toys let's look at all toys give stuff away, that was the beginning of me understanding part of receiving is giving back. >> one of my favorite memories
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photo right here, christmas episode when you have to remember we were in southern california so we did not have snow. so this was snow on the set falling down very magical on top all that. to watch this. >> n would of my best memories dad, on piano, no i sarcastic one of my favorite memories as child all singing along other than that i truly love baking christmas cookies. >> i love being with family i love seeing longtime friends, that is what christmas means to me. >> when i was a girl my dad was building a swing set, my brother -- brought them middle of the night said what is dad outside doing in middle of the night it with a as swing set daddy was may being for us. >> favorite memory hands-down always trying to beat my brother down on christmas morning, what i would do sometimes i got a little older would set trap wasn't violent
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it was alarm to let me know when he opened his door to go downstairs to be the him. >> all viewers i say thank you so much thank you for being the smartest best wonderful viewership ever, thank you for always being so smart to push back on me, and on our guests when you don't think something sounds right, thank you so much for being there and watching every morning, to make sure that we are on our game to make sure i are getting what you deserve what i want, to all of our viewers, thank you for being the greatest of all thank you for making "mornings with maria" number one. >> nice, cool. >> nice to marry from maria the end -- think about your favorite christmas tradition we are definitely christmas eve no won in family eats seafood but do it older people i am starting my tradition that is to have my daughter cry on santa's -- every single
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year -- >> we have pictures might have had success first year -- not two months there. [laughter] >> great. and then this year -- [laughter] >> i hear like -- a tank top over a turtle neck, my good knows, smiles my christmas card that i send out to everybody is going to be all of the crying years then the smile. what about you -- >> our family says three years in a row a tradition. >> there you go. >> we always do christmas eve at a restaurant and if restaurant changes every year my dad usually picks it knows food, wine amazing meal christmas eve together we just sort of reflect on year next day home cooked at hole. >> we used to go to live nativity hilarious, kids acting want to be warm out of
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there so do we. >> tradition, is christmas morning breakfast we never did the meal but all the family gather at house for breakfast after, and -- my mother god i love you mama she isn't -- the cook -- never quite nailed down that sausage casserole i am that i've she is still here -- she still here this christmas. >> few months ago -- we love you we love everybody thank you. >> indeed. >> lauren. >> thank you. >> we will be right back. ♪ ♪ n more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be.
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dagen: mr. varney, take it away. stuart: thank you very much, indeed. heads up bitcoin people, your coins are crashing and all those block chain spin-offs, the same story, they are tumbling. good friday morning, everyone. last day of trading before christmas. it's all bad news from the bitcoin market. the price dropped by about a quarter overnight, you can call it a correction or pullback, i will call it a crash. the price is now in the 12,300-dollar range, right there on your screen. in half an hour, some of those companies that just changed their name to include the word block chain, they are

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