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tv   Varney Company  FOX Business  November 17, 2017 9:00am-12:00pm EST

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>> thanks everybody great show. have a great weekend here's varney and stuart stew over to you. >> thank you very much maria tax cuts agenda cleared two big hurdle there's one left, the senate so i will repeat the question, can you imagine the republican party saying if no to tax cuts at the very last minute? [laughter] good friday morning everyone. i know you're saying yes ashley. [laughter] hold on a second. the house says yes. 227-205 set up u finance committee last night also says yes. tax cuts do have momentum. and u now after thanksgiving it goes to the full senate. the democrats are playing class warfare a give away to the rich they say. the president treasury are secretary leading republicans insist it is a middle-class tax
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cuts and will grow the economy. when it gets through the senate, investors seem confident a big stock rally thursday this morning we will open right around record levels. now this -- car lovers, this will blow you away. tesla reveals sports car that goes from zero-of 0 in 1. seconds. they also unveil an electronic truck but it was the car that got the attention. by the way, watch tesla stock take off today. big show coming in a moment you'll see class warfare on the senate in the senate, and you'll meet the guy who had a lot to do with thursday's big rally we made him famous. "varney & company" is about to begin. >> i really resent anybody saying that i'm just doing this for the rich. give me a break. i think you guys play that all
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the time and it gets old. and you ought to quit. >> i'm not through. okay. i get sick and tired of it. true it's a nice political play, well mr. chairman with all due respect i get sick and tired of the richest -- richer and richer and richer -- we do attack -- middle class over and over again how many time dos we do this? listen -- i bothered you by allow you to start off here. and what you said was not right that's always i'm saying. come from the middle-class originally we didn't have anything. so don't -- skew that stuff on me. i get a little tired of that crap. let me just say something, if you didn't -- if we brought together we can pull this country out of every mess it's in. i like you personally very much but i'm telling you this bull
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crap that you guys throw out here gets old afterall do it right at the end of this. but just not right. ♪ [applause] yes. yes. stuart: yes, written deed. what a guy. brown shouting match there over the gop tax bill hatch is committee chair brown blasted plan oh this benefits the rich and clearly senator hatch is exception. let's get it clear here who democrats have a point saying it is give away to the rich. the rich benefit the most is that accurate? >> they'll pay more but nothing with capital gains but top 1% will spay especially in high tax states of new york, california, on we know that but what really bugs me was so perfect there because they can put a plan down and say try this one for size and hadn't ready a line and says that benefits the rich they say it is default onset of
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everything when they don't look at the details. >> all right ashley pup and running tired up today. >> i was saying to myself finally finally network tv moment we've been waiting for. i was surprised hatch didn't throw the l gavel playing this class warfare forever and by the way a democrat policy so state of the art then why did it collapse economic growth and net small business job creation? their policy slal the middle-class and small businesses. >> thank you, liz, thank you ashley prump tweeting on the economy this morning. here it is great nurlses on stocks and the economy -- if we get tax cuts and reform really see some great results might be watching this program. our next guest says -- that tax cuts are not yet baked into the market in other words, if we do get tax cuts he thinks this market goes up. keith parker is with us from ubs. i made you famous. [laughter] >> ubs appreciates your support. right. your premise is -- that if we do get a 20% maximum
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corporate tax rate stocks go up second leg was rally yes? >> wengs so yes this is a big impact 0% rate boost eps by 10% -- earnings per share earn more money corporates have they spend it they spend it on job and spend it on technology they spend it on equipments that's important to drive the next leg of the recovery. and third, we don't see it priced in stocks that bunt most are trading at same relative valuation they were preplex. >> okay, now i've read your article. and you're saying that it is -- telecommunications, financials, and retailing those are the groups of stocks that sector, so to speak, which will benefit most is that accurate? >> they have the highest u.s. federal tax rates and greatest share of u.s. domestic income so their local domestic companies that they reasonably have high taxes. retailsers pay above 30% as a profit tax almost high fest in
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the land that accurate too? >> we took a deep dive into, you know, company by company 3,000 firms and retailers are amongst high pest taxpayers. >> what happens if we with don't get a tax cut through the senate? look it go down? >> i think you know, spend it dropping the ball i think game goes on through the first quarter. so the market remains pretty well supported supported but if we do have some a little bit of a kol consolidation the fact that you have solid and valuation that aren't pricing in relative drivers and positions that isn't stretched i think the market can take it. so second leg up if we get the senate to agree to a tax cut. smg yes. yes. our case is -- if -- great. you are famous. [laughter] that's really good keith park ubs thank you so much for joining us. appreciate it. i'm stay on tax cuts issue host a --
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[inaudible conversations] 90s again so we've grown discoveries ever out now -- for today he says the claim that cutting tacks on corpse profits would lead to an explosion in private economic growth is bogus. is the headline is everybody hates the trump tax cut plan. where is he going wrong? >> parker used to an economist s now a deceptionist. all right so -- the point i'm getting to here is that --
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we know tax cuts work. all you have to do is look around the world all you have to do is look u.s. economic history that kennedy tax cuts, the reagan tax cuts, the bill clinton tax cuts on capital gain one of the big problems the u.s. has is that we have the highest corporation tax rate in the world at 35% add state and local on top of that and it gets higher. continental europe these are the major developed countries of europe the afnlg corporate tax rate is 18.8% there. we lose business not just in europe but we lose it to canada. we lose it to anywhere where corporate tax rates are higher. it's time to bring those tax rates down we've been talking about this for the last 20 years. i am so happy to see congress final lis moving in this direction. this is a great tax reform. >> let's just hope that the senate republicans doapght blow it at the very last moment.
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brienl west bury 3.5% growth for years to come. we'll sew you again soon. okay individual stocks making news today william sonoma down 10%. why? they look to the future, they saw some weakness don't do that. your stock goes down. foot locker reporter i should say strong numbers all around well that's a winner. 27%, on the upside -- how about this one? gap -- their sales imroat got a lift from old navy, the gap premarket this is, up 8%. how about abercrombie forecast healthy holiday sales look down the road, going to be okay boys up 22%. they've got a boost from their holster. >> well, but hanging in there. this is what keith parker said reare tail percent benefit the most if you get the corporate tax rate cult. up go the retailers, i mean, for all kind of reasons so abercrombie 22% higher now question showed you this earlier in the week ford assembly line
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workers using robotic exoskeleton you strap one of these things on makes you stronger and faster well in the steweds owe we have a live demonstration of this thing later in the hour you will see it in action. >> i want one. so do i. curtis in new york telling "new york times" she thinks bill clinton should resign as president after affair with monica lewinsky revealed republican congressman carlos denied membership the historic caucus. of entire -- no room for republican there. more varney after this.
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>> is this the retail wheres that he really do well this is hibt sports -- they've got a nice forecast for the future, that goes down well, hict sports is up 24% as of now. what is this?
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democrat senator kirsten gillibrand from new york u saying in retrospect bill clinton should have resigned from the presidency after his affair with lewinsky exposed here's what she said in the tiles, quote, o yes, i think that is appropriate response things have changed today and i think under those circumstances there should be a very different reaction. meanwhile senator al franken apologizes to leann tweelden for his behavior on a u.s. tour and she said that she accepts his apology she it willed what franken did in a press conference. roll tape. i said okay we'll practice the kiss for goodness sakes to shut him up and before i knew it he put his hand and came towards me and mashed his face against my mouth and stuck his had tong in my mouth. >> second accuser has come forward conservative radio anchor melanie morgan tweeted this.
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al franken harassed he scared living hell of me it's all true. don't forget and don't leave behind roy moore scandal he's trailing doug jones in the latest fox poll trailing by eight point. joining us now fox news i want to start with bill clinton. what do you think -- about from senator gillibrand i mean should he resign back then this bring areses it all back again, and of course she's right he should have. but there's no courage in what senator bill -- gillibrand is saying right now. it would have been courageous for her to have said -- that party made bill clinton their keynote speaker on their convention night that was dedicated to women's rights. you expect -- members of congress and i ask you this --
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[inaudible conversations] members of congress have been accused of -- but one of the things sorry this is porkt there are a lot of young kiss kids who work on offices they deserve to know if that sughs is one where sexual has happened and frankly as a parent, i had a daughter who interned on the hill i want to know that. in, for example, i don't my daughter interning at the clinton foundation there should be a member of congress who has a pat earn. >> so say senator -- who was now with what he did what was the appropriate punishment?
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denied relationship to representative carlos they say he wanted to join they say no. apparently it is because he's a republican who doesn't share that democrat value. you are historic yourself what do you say when this republican can't get into the historic caucus? >> get it right because if you're historic that doesn't have the right idea meaning liberal big government idea they just tell you you're not hispanic.
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and this is not a --
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you have to be anti-trump and antiwar you have to be prosanctuary cities, prosanctuary states, and nobody else can get in. that's about it. j it's about power. they want to own us as a community, and if you have different ideas, if you believe in free markets you have any other ideas you're out. you're not hispanic. >> rachel a you did a very great job. >> i love this show. eight kids. >> eight kids. [laughter] oh, by the way everyone congressman carr kurbelo will join us on "varney & company" boston o dynamic robot can do backflips wait for it. wait for it it will do one i
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promise you. it will, no just wait. just wait. oh -- ♪ we'll see it, believe me. [laughter] we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before we called the police. usaa was there hands-on very quick very prompt. i feel like we're being handled as people that actually have a genuine need. we're the webber family and we are usaa members for life. usaa, get your insurance quote today.
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>> i think we've got the backflip wait. wait, yeah, baby. [laughter] backflip okay emac where's this thing going not that robot
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the idea of robotics. this robot former this is a military use. that can carry 400 pounds of gear they can go where marines and soldiers don't want to go if they can't hot, wet, cold. they can had basically deactivate they're working on robot of of course deactivate ied there's a big military future soft bank now owns boston die signal haddic that made this exciting dream producing robot. >> sci-fi movies we have armies of these. it is i can watch that video forever so we cut it off right there. [laughter] serious story, the keystone pipeline is leaking. over 200,000 gallons of oil leaking it into south dakota. ashley is there any suggestion that the pipeline has been sabotaged. >> no idea what causedded this 200,000 gallons of oil they say they're on the scene and don't believe it effected any drinking quarter ises at all, but they are trying to investigate to find out what caused this. they have a similar one --
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part of the pipeline last year back in april that was only 17,000 gallons that cost you know a week and a half probably some outrage from -- the environmentalists what have you. but we "don't ask, don't tell" know why it is happening. >> timing weird and monday nebraska will decide on a permit for sister pipeline along side this one run by transare canada critics use leaks as reason to shut down permits by pipelines. >> coming up to the opening of the market. by the way, there's the transcanada pipeline they're down 70 cents tomorrow and opening of the majority and we'll be down a big rally yesterday on the momentum that the tax cut plan has achieved. with pulling back 60 points on the dow an opening bell rings on stay there because we're taking you to the market moments from now.
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stuart: the opening bell will fling about 50 seconds time. we are not quite there yet obviously but we are coming off a big gain. that was on the back of the house saying, yes, to tax cuts. later last night the senate finance committee said yes to tax cuts so we are off and running to the senate, they will start looking at this things and debating it the week after thanksgiving. they are trying to hold onto a timetable where we get tax cuts in place, i don't know about the timetable but the momentum is surely on for getting tax cuts
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done. i'm going to repeat the age-old question, can you imagine the republican senate saying no at the very last minute when they're right up against it, they're going to say no to tax cut, i can't imagine it personally. bang, 9:30 in friday morning, we are up and running, i see red right there and the dow down 24, 33 points, 40 points down, 43 points, 42 points down, how about .2% on the downside for the dow jones average. the s&p show me please, that is down .16. near 4 points, the nasdaq, that's down -- no, i tell a lie, it is up .01. ashley: wow. stuart: i have to show you tesla. i think we have the stock. up $11, 324, unveiled an electric semitruck but most important, the road stuff, 0 to
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60 in 9 seconds. mike murphy is shaking his head. tesla is up today. elizabeth mac donald is here, ashley webster and jeff sica and mike murphy. mike, what do you think of the big reveal at tesla? , most viewers are zeroing in on this incredibly fast sports car but you're look look at the elec car? mike: truck and big orders and potential market to disrupt the truck industry. volswagon is getting in the space. elon musk was playing and looking for this big announcement to shot the market and gets shorts to cover. it felt that way.
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i don't own the stock. stuart: you don't think it was a market-moving event? >> i better cover my short, i think that could create problems. ashley: he sells a dream and he sells investors on his ability to raise more money but when you look at the actual fundamentals it's a little scary. >> i'm no fan of tesla what happened elon musk is doing, he's very good at the big show, he's very good at the big presentation, but the reality is he's very bad at manufacturing and managing cash and even his technology, this battery is behind the times for another company that's coming out with a better battery. he's got a lot to prove. stuart: i think a lot depends on the model 3. you have to mass produce it. liz: they haven't. stuart: i want to get to tax
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reform. earlier this morning, our guest made the case that we are going to get another leg up, another rally for stocks on top of what we've got already if the tax cuts go through. jeff, do you think he's right? >> i think he's right but i'm going to flip the script on him and say if the senate and the house find the way to blow this in the last hour, which i've said before, these are incompetent people, the market is going to reverse. so the entire market is dependent on whether these tax cuts get passed and they want them passed by the end of the year without question. liz: right at the time the fed is expected to raise rates. they are also not money printed like they have been buying assets. stuart: i just can't believe that at the very last minute with every hurdle gone over, republican wills blow it. mike: if you're making investment base on house and senate, you're going to lose.
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you shouldn't be doing that. you should be looking longer term. when was the last time you had both sides put something together, i don't remember the last time. it didn't happen last time. stuart: will the republicans blow it at the last minute yes or no? markets down 75 as we speak. lots of retail news today. a lot of it, by the way. gap stores, ross stores, abercrombie, foot locker, all of them up big, there's a reason for that and i will tell you right now. if we get a maximum tax rate for corporations, retailers are the very biggest of big winners. look at wal-mart, they went up yesterday to hit a record high, they are up again -- well, $99 a share as we speak, awfully close 100. how about amazon? king of online selling? down 87 cents.
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$1,136 per share. okay, another reason for the retailers doing well, mike, a lot of them have come out with a very positive outlook for the holiday season this year. mike: they have. a lot can be attributed to the consumer. the consumer is out there and spending money. when you look at the big picture, stuart, the retailers just like the entire market, the retailers that are performing, putting up numbers and raising guidance are getting rewarded. you see foot locker today and wal-mart yesterday, the ones that are missing are getting crushed. it's the story of the have's and have not's. stuart: would you buy any of them, jeff? >> i like wal-mart. they are finally learning. they have the two-day and they
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are ding of brick and mortar. i don't own it by the way. stuart: got it. check the big board. down 72 points as we speak. it's a selloff. the level of the dow is dropping. 23,400. comcast, verizon, sony, all three of them reportedly interested in fox's movie studio, cable channel, netflix. a deal could also likely include fox's share of streaming service, hulu, there's the stocks reacting. got it. new ceo john flannery announced
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that he's bought more than a million shares of ge stock right around 18, investors like that kind of vote of confidence, it's up 10 cents, 18.35. the camera for amazon's in-home delivery program can reportedly be hacked. this is the one where -- ashley: camera is set up so you can watch delivery guy and not get up to any nonsense while inside your home. some found a way to hack it and turn it off online. stuart: that's not good, i don't think that's a major mover of the stock but that's not good. mike: i don't understand where they are going with this. developing a box that can go in the front step with a code you unlock. you don't need to let a person in your home. stuart: amazon has -- [laughter] stuart: here is one. by the way, that's leading to more discounts on guns as we
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head to holiday season. we use today call president obama the greatest gun salesman on the planet. ashley: people feel good that their rights will be protected. stuart: ammunition people, they are up today. mike: unfortunately the gun stocks tend the rally when there's some sort of tragedy because people react that government may prevent them from buying guns in the future. no reason to run out and buy a new gun, that's putting pressure on the stock. stuart: disney's new movie coco set a box office record in méxico. i'm not aware of this movie. liz: a gorgeous artistic movie. 43 million in first 19 days of its release. it is a historic hit in méxico, moving into here in the u.s. and
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china and russia and coming weeks and watch what disney did, you can watch it for free samsung vr if you have, they are setting that up as well. stuart: you know, pixar is brilliant. the visual image that they create, it's a work of art. >> disney has a lot of the -- >> a lot of the films companies, this is monumental in getting into the spanish sector with méxico, there's a lot of -- of people ox mexican decent living in the u.s. i think it was a major accomplishment for disney proving yet again that they are the king of compact.
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stuart: well, said, jeff. said to hand over the crown to his son, i don't know whether this has any impact on the market or not. 28-year low and may well dry up totally. that's a restriction on the supply. venezuela oil production hit a 28-year low and may well dry up total. that's a restriction on the supply company on the market. they are in default. two rating agencies put them in default. you know what, it's 9:40 already. i have to say good-bye to the stars of the show. sica, is your mom watching? >> yes. mike: my mom is watching too. stuart: so cute. [laughter] stuart: thank you very much, indeed.
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check that big board. we are down 70. we were down 80. pope francis says people who are skeptical about climate change are, quote, provers. a story for you in full. up next, the ekso skeleton suppose today make workers faster and stronger, we will take it for a test run, not me. i would like to be faster and stronger, back in a second. ♪
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stuart: 71 points, amazon and calvin klein teaming up for what's called a store of the future. tell me about it, nicole. nicole: and the story of -- stoe
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of the future. this is a collaboration with calvin klein. overall calvin klein is being forward because it's all about digital. amazon is the place and that online shopping through amazon is the wave of the future and that's how they are doing the collaboration. stuart: we need to ratings. nicole, thank you very much. the pope sounding off on climate change. liz: they are meeting in germany about paris accord and he said that people who don't like
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talking about climate change, they have basically obstructing to it and provers and not helping honest research. stuart: i don't mind talking about it. liz: he's setting up like you're a sinner if you don't agree. [laughter] stuart: this is a story, i really love it, four workers, some of them using new robotic suits on the assembly line. first, let me introduce to tom, he's the ceo of ekso biotics. our production assistance is wearing one of these. he's in the studio, on the left. so you're already to test this thing out. >> yeah. stuart: first i want to talk to
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todd, ceo. it's like computer system muscles? >> this is one is actually mechanical. we do have computer assisted ekso skeletons where we help to rehabilitate patients. this one is actually mechanical. you put it on like a backpack, brian is wears it right now. it's not activated. a motion sometimes above their head, 4600 times a day and a million times a year and you can think of the wear and tear of the shoulder. shoulder is one of the weakest joints in the body. a third of the workers' comp claims go to shoulder injury. stuart: extraordinary commercial for you. [laughter] stuart: we don't midnight that. brian, show us, please. just turn it on, right? pick something up that's heavy.
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>> it pushes it up. stuart: i want to see the sandbags. >> rated for 10 to 15 pounds. can go up to 35 pounds for heavier duty work like the sandbags right there. stuart: i don't suppose you can pick up the gentleman next to you. try it, let's see. why not. pick him up. pick him up. [laughter] >> a lot of the injuries on work site are picking carry application, so for that you may actually have to put power into the ekso skeleton. the end of product development will include putting power. liz: how much is it? stuart: how much?
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>> this vest is 7500 but if you're ford or bmw or somebody else, they want to put a bulk order we do discounts. stuart: could i buy one? i'm not joking. >> you can certainly buy one. stuart: i could actually move around tree trunks. >> lightbulbs or things like that. stuart: you are a publicly-traded company? >> we are. stuart: small company. didn't you go up like 50% the stock price while the announcement of ford robotics people are actually using it? >> we went even more than that. as much as 100% at one point in time. but we actually looked at the stock too and the news was good for them over the next couple of days. it's been really great, again, it's great for shareholders. it's great with the general awareness in the market. automotive company, construction
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company, zach is taking a lot of orders right now. stuart: rehabilitation of people with serious spinal chord and skeletal injuries, that's what really turns me on. you give them added power and added mobility. >> absolutely. helps them to be healthier for the rest of their lives. it's not just about spinal chord injury but stroke. stroke is a much bigger phenomena, ekso biotics to help with stroke. stuart: did i give you a commercial? >> you really did. [laughter] stuart: you presented yourself to it. i think you're going to do well. that would be tom with ekso biotics. [laughter] stuart: you can't keep it. thank you very much, indeed. good stuff. next case, $15 million in secret
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payouts and settlements of victims of harassment by members of congress. you are forking the bill. full story coming up. later on varney abdomen company a hispanic conservative member denied admission to the hispanic caucus, his name is carlos corbelo. he's on the show. more varney. whoooo. looking for a hotel that fits... ...your budget? tripadvisor now searches over... ...200 sites to find you the... ...hotel you want at the lowest price. grazi, gino! find a price that fits. tripadvisor.
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stuart: saudi arabia minister says opec may extend output cuts, the drillers, as you can see, all of them on the upside in what is otherwise a down day. taxpayers, that's us, footing the bill for sexual harassment on capitol hill. gerri willis is here. >> $17,240,854, over 20 years, you see the number right there. that was 264 cases, the average settlement over $65,000. now, let me add, eight cases, u.s. treasury strokes a check for the settlements and we pay the bill. stuart: that's racial discrimination, sexual harassment all of it rolled into one. >> they are not giving us details on who was, this who was involved, where did it happen, what were details, our money is paying for this. they tell us virtually nothing.
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stuart: what was the average settlement? >> $65,000. stuart: $65,000. the government, the taxpayer is the employer of congress people, therefore, when they mess up, we are liable, is that how it's working? >> well, so this office is like compliance, a massive hr office for congress, right, but i don't think that's how it should work. look, we elect these representatives, we shouldn't be paying for their -- if you want to stop this kind of behavior, look, i think what you do, is a, you make them liable for mistakes and, b, make it public. stuart: i agree 100%. what shocked me the numbers you brought to the table. 264 cases over the last 20 years. >> correct. stuart: sizable number actually. >> sizable number. you know how the young people respond to this, they have a creep list, a creep list, so
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they have a list of congressional members who you don't want to be in the elevator alone with and they even tell people where not to go. this is very informal, amongst young people on capitol hill who share and trade this information to keep each other safe. stuart: guerri, that was an eye open opener. thanks to the irs, got political. a downgrade, this is my opinion, a downgrade for our democracy. my take on that coming up at the stop of the hour.
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. . . .
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stuart: when the taxman gets political you know your democracy is being degraded. it is happening now at the irs. just before he left the job, irs chief john koskinen started sending out letters to small businesses, imposing fines, big
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fines, around $2,000 per employee, of small businesses. thousands of companies will receive these dunning letters. what did they do wrong? they didn't comply with complexities of obamacare rules. now the fines were not imposed when mr. obama was in office, oh, no. they knew it would be wildly unpopular but they are being imposed now. it's a parting shot at the trump administration. the fines could total over $200 billion over the next 10 years. of course, this is not the first time that the irs has engaged blatantly political activity. who could forget the targeting of conservative groups before the 2012 election? the obama team had used the machinery of government to pete up on its political opponents. that is banana republic stuff. the irs is not supposed to be politically, but it now is. just another sign the left will bend every institution to enforce its political will.
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generation ago president nixon tried to get the irs to investigate his political opponents. the irs refused. that was then. john koskinen is now. the second hour of "varney & company" is about to begin. ♪ we're down but it is not huge. we're off 67 points at 23,389. we're almost at 23,400. where are big tech stocks today? mostly aches inned bag. down actually. facebook it up 17 cents. amazon, microsoft, apple, all on the downside. look at tesla, they released the electric semi-truck, plus, an extraordinary fast roadster, 0 to 60 in 1.9 seconds. i will take that please.
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the stock is up 2%. nike, has increased its dividend. that adds 14 points to the dow industrials. saudi arabia's oil minister suggests that opec could extend the output cuts. the drillers therefore are rallying. as for tax cuts, well the ball is in the senate's court right now. i will repeat this i just can't believe that the republicans will drop the ball at the very last moment. joining us now is grover norquist for americans for tax reform. can you believe they will actually do this, because i can't? what say you? >> they won't do it. they could do it. it is not impossible but there will be between now and when the house and senate pass the final bill and trump signs itself dozen times where republican senator says, i might vote against the bill. here's the reasoning. if you want to be on the television talk shows on the weekends, you have to start your sentence with, i might vote against the bill. then they will put you on the
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show. if you want the attention of mitch mcconnell, you want him to call you back on the phone, about whatever it is, your cousin need as job, some part of the tax bill you want to tweak or whatever, you start with, i might vote against the bill. if you want to signal in your state, i care deeply about x, you say, i might vote against the bill. i care deeply about x. so, there are a number of reasons to start the conversation, i might vote against the bill. there are very few good reasons to vote against the bill. stuart: it is sausage making at the very last minute, arm-twisting, trying to get a little something extra for you and your state. but when push comes to shove, i think you agree with me, you don't want to be the republican senator who says no, and kills the republican party in the election next year and kills the growth agenda. ain't going to happen. >> it ain't going to happen. the one of the reasons is, the house and senate bill are different. the difference is one says five,
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one says seven. you can see agreement. if the other said blue, other said seven, i don't know how do we do this but they easily mesh together. we're talking about how quickly we get to 20% corporate rate. we're talking about, you know, how you phase certain things in or out. we're not disagreeing with what we're doing. we're trying to fix things in the box. that is the good news. you have always been in favor of the tax cuts across the board. >> yeah. stuart: now the democrats are saying these are tax cuts for the rich and for big corporations. do you want to take that on? >> well, i would except that i have several thousand times in the past because whenever the republicans want to cut taxes the democrats have the same statement. this is for rich people. they also promise when they're running for office they will never raise taxes on low income people. it took obama 16 days to screw low income people with his first tax increase. and then there were eight tax increases on low income in
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obamacare. including that tax penalty that the republicans look like they're going to get rid of in this tax bill, mandate, penalty, if you don't buy obamacare we whack you. the only people that hits are low income people. stuart: what do you make of that story i reported at the top of the hour where the irs, i think they have gotten political? they are sending out letters to businesses to pay for a fine which was imposed three or four years ago, but they're going to impose it now because it is the trump administration, not the obama administration? you're laughing but this is a big deal. >> no, it's a big deal, coming out now remind people why this tax code needs to be fixed. reminds us why we need to go through the irs and frankly, a lot of people need to find another job. you mentioned nixon asking the irs to look at other people, to audit other people, he was audited between every other year he lost the presidency in '60, and when he got elected in '68.
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he thought that was normal. it was normal for democrats, but when he asked for it, not acceptable. it is never acceptable. it needs to be stopped. somebody ought to be fired. stuart: yes, but probably nobody will be fired. got it. grover, leave it at this. you think they will get this tax bill through the senate and we're going to sign it either before the end of the year or very early next year, leave it at that? >> yes. stuart: got it. i think you will move the market. grover norquist, as always thanks for joining us, sir. much obliged. now this, bipartisan calls for senator al franken to step down after one of his accusers said this. roll tape. >> there is no reason why i should accept his apology. i mean if that, sure, i wasn't, i didn't come out to, i wasn't looking for anything. you know what i mean? people, what were you expecting from him? what did you expect from him? if he wanted to apologize,
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great. i mean look, this has happened. this has been going on for, this happened 11 years ago. stuart: pete hegseth, "fox & friends weekend" co-host. should al franken resign? >> i think the voters in the state of minnesota should decide that. i think there is, each -- stuart: that is aways away. >> either through pressure from the democratic party inside minnesota, we don't want him to be our standard-bearer anymore. hearing from constituents who feel uncomfortable. each one of these should take a non-partisan, sober, serious view, even one of these. look what is being accused. look at the conduct occurred. is it creepy, criminal, all the different aspects of it. then make the right decision. what i don't think is going to happen that the senate ethics committee will do anything about this, because it is totally ineffective body, seen accusation, and almost never censure their own. comes down to the people to make a call. do they want al franken to
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represent them or not. stuart: i think this thing, with the al franken situation, this particular accuser, seems like things are working themselves out. he apologized. she accepted that apology. surely nothing else should happen until he faces voters of minnesota again, when they can pass their judgment. >> they can -- i think that is very important aspect of this. that she came forward with this. he owned it. i'm not apologist for al franken. he is terrible senator. i'm from minnesota. i think he is as bad as they get -- stuart: you're from minnesota? >> i'm originally born and raised in minnesota. stuart: what is devil going on. you're a conservative kind of guy. >> there are a few of us in minnesota end up conservative. stuart: like california. >> a few of us stuck out. stuart: colder weather. got to talk to you about the roy moore situation. latest "fox news poll" shows him eight points now behind the democrat. what is going to happen here? play this out for a second.
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>> let's set aside the accusations, we know they are troubling, they are what they are. the political reality i think he runs to election day, unless there is hard evidence. he is denying, that is his line. i think a lot of voters, this is a bright red state. 26% went for trump. i think you see a lot of people come down to election day, i will walk in that booth, plug my nose and not send a democrat to washington. and, they, i think there is a overwhelming sense among folks from alabama, i talked to a few, washington, d.c., don't tell me who we send to the senate. we'll decide who we send. don't strip him before he is on the ballot if we want him on the ballot. dabbling from the d.c. crowd, mitch mcconnell works have automatic adverse effect. going to election day it will be tossup, 50/50. have we not been surprised 1000 times over? stuart: point of principle, i think it is up to the veriers of alabama to make their call. it is their choice. bottom line, it is their choice.
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now we also have, this is another one for you. democrat senator kirsten gillibrand, new york senator, she says this, when asked if bill clinton should have resigned because of lewinsky affair, yes, she says. that is the appropriate response. things have changed today. i think under these circumstances there should be a very different reaction. okay, that is not the way things worked out all those years ago, 20 years ago. >> no. but nice to see someone not just applying a partisan lens here. if that is going to be your stance, these are the type of things people should be fired for or resigned for. it should be a bypartisan stance. she has taken a lot of strong stances on sexual assault in the military as well. this is issue she has spoken about a lot. so to say that about the clintons, look at some of the stuff that went down there, apply to today's standards, you know, it is what it is. i applaud her for that statement. stuart: yeah. times have really changed. they really have changed. >> absolutely. stuart: i think, if bill clinton did what he did back then, and did it today, and it was exposed
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today, the reaction would be completely different because 20 years ago. >> especially because of the power dynamic. it is exploitation of power, that is even more troubling in that circumstance. stuart: well-said, even though you're from minnesota. >> establish oned one thing. stuart: are you working this weekend? >> i'm working this weekend. stuart: i will see you on sunday morning. >> lucky you. stuart: you're all right. check this out. new york islanders, inviting a special guest of their military appreciation night. charlie, a black lab training to be a military service dog, dropping the ceremonial first puck. well-done. good stuff. here is coming up on this program. seattle wants an income tax on the rich. today the case goes to court. we're talking to someone funding the fight against that tax. tesla, rallying this morning. their big reveal was a semi-truck, electric truck. came out last night with a really big reveal was the
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super-fast sports car. that is what i i want to hear about and you will, coming back. ♪ alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.
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stuart: check the big board. we were down 70. now we're down 50. 23,004 is holding. weak forecast from williams-sonoma. we don't do that. it is down 11%, at $46 a share. going the other way, abercrombie, healthy holiday sales. look at them go. getting help from the hollister brand. the stock is up 25%. a hung jury in the bribery case against new jersey democrat senator bob menendez. can you tell me what's next? ashley: that's a good question. prosecutors could decide to retry him, no doubt about that, but the general consensus is, they probably won't.
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one of the jurors said 10 to convict, two to acquit. menendez came out firing. i know you were digging my political grave so you can jump into my seat. i know who you are. i won't forget you. at this point, bob menendez in new jersey will be back in his senate seat. stuart: germane to our own judge napolitano. he is telling us that whether or not they take him back for another trial, is up to jeff sessions. ashley: ah. stuart: the attorney general. now that is interesting. because if they retry him, he is out of the senate. can't vote in the senate. if they don't retry him. then he is in the senate. they have a democrat vote in the senate. ashley: big decisions to be made. stuart: okay, thanks very much, judge. i know you're watching. seattle residents, they're fighting back. there's a hearing today against a tax the rich law which was passed this past summer. the bill would tax individuals, making over 250,000 bucks.
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couples making more than a half million, the tax rate is 2.25%. one of those people, fighting this tax is matt mcelwayne. you helped fund the fight to tax the rich in seattle. why? >> first of all the tax is illegal. we have a created a opportunity for all coalition. we have folks throughout the state helping fund that we have the former state attorney general robert mckenna arguing in front of the judge why it is illegal. stuart: can you tell me why it is illegal? it was the city council, said here is the tax, why is it legal? >> in our states like most state the state government has to authorize local jurisdictions to tax anything, in this case income. our state has not authorized local income taxes. in fact they specifically prohibit in in the 1984 law,
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local jurisdictions like cities and counties taxing income. so it is illegal in two different ways. we have some constitutional protections. but i think the bigger point, stuart, it's really a bad policy idea. you know, actions have consequences. in this case, what we did six years ago, as we reject ad state income tax. you know what happened in our state? our tax revenues grew from 28 billion to now over 40 billion in the state. our governor and our mayors, historic mayors don't like to talk about that. more importantly, we had lowest unemployment rate in the history of the state. we have incredible job creation and economic growth. stuart: as i understand it, the seattle city council is a very much a left-wing operation, one socialist is very prominent on that council. i believe that this tax the rich idea came from the idea of trying to reduce income inequality. that is accurate i think? >> well that may be what the rhetoric is, but the reality is,
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is that we're not only growing our tax base with a pro-growth, pro-investment style of system we have in place, but we're also creating more opportunities for everything, everyone. hence the flame, opportunity for all coalition. stuart: why is seattle so on the left? why? >> you know it is really hard to understand. i am optimistic that our new mayor, general any durkin, who get elected will have more strategic approach working together with the business community. i think she can see the job growth is incredible here. the opportunities not from companies just like amazon and microsoft. google has 3,000 employees here. facebook has 2000 employees. lots of jobs are getting created. it's a smaller pie mind-set, versus a bigger pie mind-set. we hope working together with folks that have a little bit more of a strategic view, we can overcome some of the odd ideas on our city council. stuart: if you can't overcome this tax, i would predict a max
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exodus of relatively wealthy people out of your wealthy city to the suburbs. do you agree? >> i totally agree with you. actions have consequences. and just look, shortly after this was passed, amazon announced that they're looking for a second headquarters. that is all we need to see. i mean, i don't know for sure if that is why amazon did it, but i think the straw that broke the camel's back with a croptive relationship with the city council. stuart: i think you're on to something. thank you very being with us. appreciate it very much. >> thank you, is stuart. stuart: this will make the left furious, the keystone pipeline leaking 200,000 gallons of oil into south dakota. we have details for you coming up. ♪
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stuart: now, what is it? 210,000 gallons of oil have spilled out of the pipeline there, keystone pipeline into south dakota. what is going on? liz: underground pipeline, will contaminate the groundwater. 5000 barrels of oil. 25 miles from the north dakota border. comes days before a crucial decision, coming on monday, actually where nebraska is going to decide whether it grant a permit for a sister keystone pipeline to traverse that state. the critics use leaks to stop permitting. stuart: that could happen. reports said saudi arabia's king, king salman will step down next week, hand over the reigns to his son.
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why? ashley: he is 32 years old. his father is in ill health. we had the arrest of some 40 princes and government workers earlier this month. that was really paving the way for him to take out any potential rivals. according to this article could come as soon as next week. the king steps down, more after figurehead like the queen of england and the son, mohammed bin salman takes over. he will be a whole different type of ruler. for one, he will rule for many decades, but two, he is very, very anti-iran. very aggressive, will go after hezbollah in lebanon. will call on the israelis to take on that attack. that is very unsaudi-like. the saudis hate change. if nothing changes they're happy. this guy promises to revolutionize the society and dependence or oil. what will it do to markets. we'll have to wait and see.
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he is fascinating guy. stuart: i find it fascinating keepers of holy shrine, mecca, med dean narcs the king of saudi arabia talking with, and not doing deals with, but cooperating with israel. who would have thought. liz: interesting. stuart: that is what iran threatening from across the gulf does to you in saudi arabia. ashley: exactly right. stuart: what a story. good one. coming up senators orrin hatch, sherrod brown taking each other on the senate floor yesterday. brown claims the president's tax plan is takes break for the rich. you know what i think about that. shortly what you find out what orrin hatch thought about it too. oh, there were fireworks. you are going to love it. ♪ ♪
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♪ stuart: why not a little beach boys. i they this song. put it on. liz: really cold out. stuart: this time yesterday we played modern music at the request of my grandchildren. we're down 61 points at 23,396. the big tech names, we follow them real close, because they have been making the run-in for couple years. today most of them are on the downside. big tech, big tech, big tech. there you go. all of them on the downside, not much. amazon down three bucks at 1134. $1134. let's be precise. ge, new chief, john flannery, bought 60,000 shares worth more than a million dollars. that is show of confidence. the investors are bidding up nine cents. jury is still out on the
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turnaround plan despite flannery's stock purchase. coke, the biggest loser of all the dow 30 stocks. don't know why. it is down 84 cents. look at home depot, that stock hit a new all-time high. the time was 168.43. that is off a fraction. that stock is up 30%. that is off almost 1/3 since last november. republican senator, orrin hatch, utah, ohio, democrat senator, sherrod brown, the tax cut fight. you have got to see this. roll tape. >> i really resent anybody saying that i'm just doing this for the rich. give me a break. i think you guys overplay that all the time and it gets old. frankly you ought to quit it. >> mr. chairman, the public believes it. >> i'm not through. i get kind of sick and tired of it. true it is nice political play but it noise treat. >> mr. chairman, with all due respect. >> regular order, mr. chairman.
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regular order. regular order. regular order. >> over and over again. >> wait just a second. >> how many times do we learn this before we -- >> listen, i have honored you by allowing to you spout off here, what you said was not right. that is all i'm saying. i come from the lower middle classoriginally. we didn't have anything. so don't spew that stuff on me. i get a little tired of that crap. let me just say something. if you didn't, if we worked together we could pull this country out of every mess it is in. i like you personally very much, but i'm telling you this bull crap that you guys throw out really gets old after a while. do it right at end of this was just not right. [applause] stuart: bravo. bravo, senator. we need more of that. andy puzder with us. i'm pretty sure you will join in
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the applause because that was a decent and proper confrontation of the class warfare waged by the left. i know you're going to agree with me. go ahead. >> i absolutely agree with you. first of all orrin hatch is a very good guy from humble beginnings. he has worked with democrats. ted kennedy was a good friend of is. for somebody like sherrod brown, who was disingenuous and hypocritical to go after orrin hatch is ridiculous. brown, i don't know, i will ask you, i don't know a single rich person thinks his taxes are going down. stuart: right. >> i live in tennessee, which is zero income tax state. my taxes are going up. you all live in new york and new jersey. i have friends in california, illinois. your taxes are going up a lot. so for somebody like sherrod brown to come out here and make these ridiculous claims this is tax bill for the rich, i said, disingenuous. i hope josh mandel kicks his butt in 2018. he should have beat him in 2012. stuart: those are fighting
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words, andy. you're a good man. a serious question. will the republican party, blow it as the tax deal gets closer and closer? the tax deal cleared two hurdles, the house vote and senate finance committee. i simply can not imagine the republican party turning down tax cuts, basic bedrock republican policy, turning it down at very last minute. i can't imagine it. can you? >> i can't either. i think you may even get susan collins and lisa murkowski on board with this. i like both of them. they have been a problem for the agenda. it is one thing to go home and say i didn't vote for obamacare repeal and replace because i thought your health insurance costs might go up or it would hurt the poor. it is another thing to go home and say i voted not to decrease your tax rate, not to lower your taxes, not to increase the standard deduction, not to increase the child tax credit. that is another, that is whole different ball game. i think republicans go home and make those kind of claims, they
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have no chance of winning in 2018. there is real momentum behind this. i think the provision that would get rid of the individual mandate is a big plus. i think there is a lot of energy up there. very optimistic that we'll see this get passed. stuart: do you think the market goes up again, another leg up if we get a tax cut deal done? >> well it certainly ought to go up. i mean the tax foundation and the council of economic advisors are all predict 3 1/2 to 4 1/2% gdp growth. tax foundation said it would create 890,000 jobs over time. just from economic growth, almost would be a trillion dollars in additional revenue, which makes the bill basically revenue neutral. and then if you look at the benefit for american families, the council of economic advisors said that, average american families would get an additional 4 to $9,000 over time, just from the corporate tax decrease. there is huge benefits from
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this. the market should be very, very responsive. i certainly hope it will be. it ought to be. stuart: andy, you used to run carl's, jr., i am told carl's, jr. may be coming to new york city. is that a big deal? why are you coming here? >> first of all, it's a big deal something we have trying to get done for number of years. jason the new ceo, done a great job being this to conclusion. jim sullivan, franchise development, has been working on this two or three years. i think it is exciting for the company. basically i can visit a carl's when i'm in town. it was good for me. stuart: when chik-fil-a came to new york, the mayor said boycott them, and because they supported traditional marriage. i hope there is no similar protest against carl's, jr. i will be one of first customers. andy, join you there. >> good to hear. stuart: andy puzder. always good to see you. now let's get to tesla.
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big deal last night. they unveiled the new truck, the electric semi-truck. roll tape. >> because this truck has no gears. you're not constantly shifting gears. it has one gear. it is so smooth. it is likes you're driving a model x, model s, model 3. it is just big. feels easy to drive. incredibly responsive unlike any truck you have ever driven. stuart: i didn't know that. electric vehicles don't have gears. you go, stop? ashley: yes. stuart: i didn't know that. gary gastelu is with us. >> that is big deal. here's why. all the majors are getting into this. we've seen bits and pieces, we'll do autonomous, electric. they put it together all in one truck that goes further than any of the others we've seen
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proposed. the big issue, trucking businesses are buying it for the business. this is a little shiny new thing like tesla model 3. you need to prove it is durable. need to prove the total cost of operation will beat the traditional trucks. that is something tesla, i don't know how they will do that right off the bat. they have talked to the industry. i don't think they would be introducing this, launching this, if they didn't have customers. stuart: it goes 500 miles for a charge. >> that covers 80% of trucking. you need charging station at end or along the way. fedex, can put one at deep pose. i don't know if owner-operator will be idea. look, 250,000 class a trucks sold a year. if you capture 10% of that, that is several bill dollars industry. plus it will drive itself. have semiautonomous capabilities. stuart: just fascinated by the whole thing. rolling toward us very, very quickly. you know what wowed the crowd last night, you know what i'm talking about here, the
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roadster. what struck me was zero to 60 in 1.9 seconds. that is the big selling point of electric. it is a whoosh. takes you away. >> what he is selling with the model s, model x. based on those, is .9 seconds is feasible. he said top speed would be over 250 miles-an-hour. that would be handful of cars that can do that. the range of it. 620 miles per charge, with a battery pack, basically twice the capacity of its current cars. that suggests, if you did that, would you have a battery pack weighs over 2,000 pounds, is unlikely. suggests within three years they will have new battery technology will be lighter, more energy dense and do that for you. stuart: so that road sister doesn't come out three years. >> 2020. you can put down a deposit. it's a kickstarter for tesla. the first thousand will cost $250,000 each. if you want to reserve one you have to put down the full 250,000-dollar deposit.
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i would not be surprised by end of the year we get a tweet, it sold out. i wouldn't be surprised by end of the day. someone paid half a billion dollars for wall art for their den? 250,000, what may end up being the greatest sports car in history, not anything one of the exotic car buyers will blink at. stuart: to me the acceleration, the user, experience of the electric car. no gears, massive acceleration, and dead quite. that is a selling point. to me that is a selling point. >> what people love about the mod sell dell s, model x. model 3. i haven't driven it. stuart: you drove the original tesla. >> the one that started. stuart: you have driven that thing. >> no the original one, the company first started. that was the plan. sell a sexy car, make money. sell a luxury car, make more money. sell a mainstream car. they go back to this thing again, make more money and fund their other projects. stuart: is it true you're pinned to the back of the see with the acceleration?
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>> absolutely. you saw me drive the dodge demon, the quickest car in the world. electric cars feel different. more immediate speed, when step on not the gas pedal accelerator. a little bit after whine. teslas are silent. not like a sports car or muscle car with the biggs roar. that is missing from electric car. there is electric racing series, could be a little more exciting from the oral standpoint but as far as that is concerned. liz: stuart doesn't want to poodle around in a quiet car. he wants a big roar of a engine when you poodle with a dodge caravan. stuart: it is pootle with a t. liz: that is what you get. stuart: what is that? liz: my new pen. stuart: that is a pen. liz: every time you pick on me now this is what you get.
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[buzzer] stuart: you're all right. thanks for joining us, sir. i want to drive one of those things. >> everybody in the world. ashley: yes, yes. stuart: check this out, please. lines forming at munch's burger shack in tokyo. president trump eight the angus king cole by jack cheeseburger. people are lining up around the block to buy that burger. the taxman gets political. former irs administrator john koskinen had a parting shot for the trump administration. fines for small business. ain't that cute? more "varney" after this. ago... love golf. i used to love golf. wait, what, what happened? i was having a good round, and then my friend, sheila, right as i was stepping into the tee box mentioned a tip a pro gave her. no. yep. did it help? it completely ruined my game. well, the truth is, that advice was never meant for you.
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and vocational job training. across new york state, we're building the new new york. to grow your business with us in new york state, visit ♪ ashley: in the last hour we spoke with keith parker of ubs says look, if we get tax cuts, it will be a big boost for the markets. we asked him what happens if we don't get a tax cut? roll tape. stuart: what happens if we don't get a tax cut through the senate? does the market go down? >> i think the, the senate dropping the ball, i think the game goes on through the first quarter. the market remains pretty well-supported but if we do have some little bit after consolidation, i think the fact that you still have solid economic momentum, valuations that are not pricing in relative drivers and positioning not too
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stretched i think the market could take it. stuart: okay a second leg up if we get the senate to agree to a tax cut, yes? >> yes. ♪
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stuart: it has been a pretty stable market this friday morning. we're stuck with a loss, 50, 60, 70 points. we're down at 23,384.
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it's a very good day for some retailers, a lot of them actually. gap, ross stores, abercrombie, foot locker, liberty sports. all of them up big. this is the biggest percentage gain for foot locker in 27 years. one of the reasons, by the way, if we get this tax cut through the senate and signed, sealed, delivered, one of the biggest gainers for the retail section. they currently pay high corporate taxes. they pay a lot less for tax cuts. a lot less, up go retail stocks. orrin hatch getting into a heated exchange with the ohio democrat after the house tax reform bill passes. roll that tape again. >> i really resent anybody saying i am doing this for the rich. give me a break. i think you guys overplay that all the time. it gets old. frankly you ought to quit it. stuart: the short version of the sound bite. we didn't want to play another one so soon after we ran it ten minutes ago, but bottom line,
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that was senator orrin hatch, really having a go at the democrat, sherrod brown, who is saying class warfare, giveaway to the rich, giveaway to the big corporations. orrin hatch was having none of it. former utah congressman, fox news contributor jason chaffetz is with us. he is also from the great state of utah. look, i'm 100% behind senator orrin hatch. i'm fed up with this nonsense from the left that these tax cuts are a giveaway to the rich. it is not true. you with me, sir? >> yeah, we like it when orrin hatch gets fired up like that. it is true that the democrats are pulling the say tricks they have for the last 10 years, class warfare. they make up the numbers about tax -- everybody's taxes are going to go up. you know what? democrats will pay a price, when they go to the polls by arguing that nobody's taxes should go down. i just don't understand how they survive that politically. stuart: i will go, i think it's a bare-faced lie when they say
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the middle class will pay more. that is absolutely, in my opinion, not true. am i accurate on this, jason? >> you are because they are simultaneously arguing that we should not cut $1.5 trillion in taxes, at the same time they're trying to tell people, well your taxes are going to go up. it is just not true. it is just not true. stuart: thank you. i know you are not exactly in charge of this, when you were in congress, but you dealt with this issue. i'm talking about former irs commissioner john koskinen. he is leaving a parting gift for the trump administration, and forcing obamacare's employer mandate and fining thousands of small companies, thousands of dollars. that is a time bomb just chucked into the trump administration. i think it is outrageous that the irs should be politicized by this. >> well i do think, it is outrageous. i am split on this one with you,
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stuart. if it is the law, it should be implemented. you can't waive laws you don't like. at the same time i think it is one of the worst things i've seen president trump do, allow mr. koskinen to stay in office. he should have dismissed him right away. he has been a absolute disaster. i think he was fundamentally wrong. i tried to impeach the guy, i think he was that bad. but at same time implementation of this rule will cost $200 billion to come out of the economy in taxes, essentially that go to the small businesses over next 10-year, 200 billion. stuart: $200 billion. just chucked out there just like that for political reasons. what a disgrace. jason chaffetz, always a pleasure to have you on the show. appreciate it, sir. >> thanks, stuart. stuart: the hispanic caucus not admitting a new member, congressman carlos corvelo.
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he is also hispanic and also a republican. the congressman will tell us his story at 11:15 this morning. it has a four in one cleaning system that kills ten times more odor causing bacteria than regular toothpaste, deep cleans where brushing may miss, helps remove tough stains, and maintains the original color of your dentures when used daily. for a cleaner, fresher, brighter denture, use polident every day.
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yes or no? do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations.
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ashley: jeff flock is playing with toys today. he is actually the toy fair in chicago. jeff, even in the toy world things can get political, right?
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reporter: oh, you betcha. first something for the little kids. this is a new one called soggy dog. it's a game where i'm not quite sure what happens, but your kids get wet. sometimes they say the varney show smell as little like a wet dog, so there is that one. i have a game for you, it is called, "what the quote." you have give a quote, people have to guess who it is. i will play two of you. number one, here is the quote. politics gives guys so much power they behave badly around women. who do you think said that? it was a former president. ashley: donald trump? reporter: william jefferson clinton actually said that. and we're equal opportunity upsetters here this morning. here is the second quote. darkness is good. dick cheney, darth vader, satan that is power. who said that? former presidential advisor. here is your hint. ashley: any ideas? reporter: it wasn't the wet dog. ashley: it wasn't stuart varney?
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reporter: steve bannon said that it could have been varney. could have been varney. [laughter] stuart: are you done? ashley: i love it. i love those quote things. we talk about quotes every day on the varney show. hopefully we'll be okay. apparently we're not. got everyone much those wrong. reporter: careful what you say. ashley: jeff flock working hard as always, at a toy fair in chicago, yes, there are lots of political games out there as well. we'll have more "varney" right after this. ..
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stuart: the congressional hispanic caucus is not for all hispanics, only for hispanic democrats.
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the caucus has rejected carlos karbala, he is definitely hispanic and his mom and dad came from cuba, he speaks spanish and is a congressman representing a district in the florida keys and south florida, he is qualified clearly, but he is a republican, therefore he is not qualified. he applied for membership in january. a spokesman for the caucus explained their rejections this way. he doesn't share our values. priceless. the democrats are circling the wagons. they can't allow hispanics to drift away from the democrat party. they must maintain their policy of open borders, sanctuary cities, sanctuary states and pure unadulterated hatred of donald trump. if you disagree with any of the above, you are a racist. luis gutierrez loathes the president, eagerly defense crime-ridden chicago as a sanctuary city and is apoplectic about the wall. college campuses, the hispanic caucus can't stand open debate,
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cannot tolerate diverse opinion. the caucus must -- the republican congressman -- guess what? the third hour of "varney and company" is about to begin. ♪ i can't get no satisfaction ♪ stuart: the senate will take
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bill after thanksgiving. there is a deal to get this done. the managing director of moody's and scott shellady with tj am investment. i sense real momentum here. i'm prepared to say i think there's a 90% chance, there's a 90% chance we get this done. >> i look at a recent survey of 50 some odd economists and only a 30% probability to the tax deal, you are absolutely -- i think it is going to happen. a lot of pressure to shoulder the voters back home, get us out of the way, you want tax reform, provide support in 2018 if you want to be reelected. stuart: i say there's no way the republican party to turn down tax cuts at this late stage. there is no way to actually reject tax cuts which are
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bedrock republican policy. >> they shouldn't. what we are caught in his analysis paralysis. it happens to traders when they think of something, we got a good chance. district to -- that. i went to see something by the end of the year. you think they put everything together and get their ducks in a row. >> 10%, trying to mess with the
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firm. they spent it on technology. he went on to say you get the tax-cut in place and the top 20% rate on corporations will really fuel significant upside movement for another leg up. >> what does he mean by a leg up? it is 20%, i don't so. stuart: the russell 2000, he says 8% up. >> easily. stuart: he specifically said the russell 2000. he says 8% up. >> easily. he is absolutely -- tax cuts are going to be good. >> what do you say about this?
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>> i'm common sense, the tax-cut are going to be good. the reason he is saying that, go back to 86, last time we went through this. >> why can't we get along, the debate over taxes exploded. two senators sparing over which plan helped or hurt the middle class. >> >> accused of writing a tax bill -- the house ways and means committee -- 3%. that seems -- doesn't seem like a lot. >> 3.5% growth would be
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fantastic. and i would guess that is positive, that would be the best year for the us economy. in years. stuart: from the moment tax cuts took effect, january of 82-83 from the moment they took effect to the last day of the president being an office the average growth rate was 4.8%. can't get back to that. >> you had a younger population, faster growth in the labor force, things are different today. the recovery is getting longer than 8 or 9 years old. the upside is you don't have as much of an upside today as you did four or five years ago when you had the opportunity to rev up the economy. a lot of companies are complaining they don't have time getting qualified workers. stuart: that is the best we get? 3% growth. >> it was 3.6% in 1986.
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there were 1.6%. they have improvement that was massive. our economy today, 3.5%, a lot more than it was 20 years ago, it would be very helpful, i will take 3.5% because that will be a fantastic improvement. >> i won't reject the.5%. look at the price of oil, a couple oil related stories. stuart: scott, that is why the price of oil is up this morning. >> folks reading newspapers the last we 6 months, said there were problems in venezuela and the saudi regime crumbling before our eyes. some people still surprised, they don't get their news in a 2-minute loop but at the end of the day oil is a fixed market,
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always upside caps so not worried about oil running away at the $140 level anymore, how can we squeeze it in the short-term? stuart: oil is at $55 an hour. >> a lot are at $62, venezuela has inflation of 23% because they embrace socialism. if you want a return of 1970 style crisis in the united states you have to have the government move further left. that is what a lot of younger people or people in the democratic party one to do. stuart: thanks for joining us. your back in london. you move around a lot. thanks, always a pleasure. check out members of the house
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leaving for recess. they are officially off until after thanksgiving and literally running out of the capital. looks like me at 12:01. that is boston dynamics humanoid robot, and wait for it. you get the backflip and you will see. here it comes. stuart: the land rover. top of the hour. a hispanic congressman rejected from the hispanic caucus, he is a republican and will be with us in just a moment. my experience with usaa has been excellent.
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stuart: this was last night. tesla unveiling of the new semi truck which is electric by the way. now we are hearing reports that walmart is planning to test those trucks, kick the tires if you will. elon musk says the big rig has a 500 mile range, tesla's stock has been up today. musk also in vail the roadster which go 0 to 60 in 1.9 seconds. if true, the four cedar would be the world's fastest production car by a long way. tesla start on the upside, $5 higher. walmart not moving on this tesla story. stock is down a bit, but it did hit $100 a share earlier this
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morning. cummins diesel engine down 4% on the tesla news. they are all connected. my take, joining us now congressman carlos rebello, republican from florida and member of the house ways and means committee, but not, he has been rejected for membership of the congressional hispanic caucus. you are hispanic, aren't you? >> pretty much. both my parents were born in cuba, proud of my hispanic roots, my wife and i have two little girls, raising them in a hispanic, we speak spanish but that is not good enough. stuart: because you are a republican. >> bigotry, discrimination. on the political spectrum. stuart: they say you applied for membership in january this year and now they say you don't share our values.
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explain that. >> from their perspective, you are only hispanic if you support a liberal agenda. my message to them was we are not going to agree on every issue but we should unite all the hispanics in congress, figure out where to work together, we have strong agreement in the area of dreamers, young people brought to this and i have advocated, filed the first bill this congress to give them a path to permanent status, they say no. stuart: are you in favor of sanctuary cities? >> i have voted to protect law enforcement and those who came to me and said we need to fix sanctuary cities but as part of comprehensive immigration reform. we do it in isolation it will hurt law enforcement so i voted with the congressional hispanic
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caucus against the administration's policies on sanctuary cities. they have members who are democrats and voted with the trump administration on sanctuary cities they are good enough for the caucus. stuart: you appeared on this program to support bipartisan legislation to ban gun stocks or bump stocks. you are in favor of a measure of gun-control. >> i managed to upset everyone because i've been ranked the 11th bipartisan member of the house. i look for the middle ground on most issues, gun policy is one of them. i figure i would be a good candidate to be part of a caucus that is for hispanic members of congress. i told my colleagues when i made my presentation yesterday when they didn't allow me to take questions or engage any members, this is the congressional hispanic caucus. as far as i am concerned, you're in congress or hispanic.
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beliefs or the way -- very ugly message. one group for democrats, republicans, independents, a lot of hispanics especially in florida are registering independent. stuart: a pleasure having you on the show the carlos curbella. >> you for your focus on tax reform, the best thing we can do for every american. stuart: it was a pleasure. take a look at gun stops. gunmakers taking up promotions for the holidays, they are discounting some guns because gun sales have been way down, they have soared during the obama years, not so, reducing price of guns for the holidays.
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fireworks in the senate, a real shouting match into the tax bill, we play you the clip shortly, you got to see this. will would you pay $76,000 for a thanksgiving dinner? it is being offered in new york city, we tell you what you get for $76,000. new study reveals the safest country on the planet, take a guess, tell you where it is for a moment. ♪
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♪ you better take care ♪ stuart: you know who that is? the great gordon light. the song is sundown. i love the man's sound, production is superb. he is 79 years of age. he still does concerts in his 78 year. a fine guy. now this, looking for a place to go on your next vacation? you might try finland. just ignore the weather. in a study claims it is the safest country on the planet.
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international sos looked the three category, medical security and road safety. other countries that score high are denmark, iceland and the united arab emirates. a new york city restaurant offering an extravagant thanksgiving, the old homestead steakhouse has a $76,000 things giving package starting with $100 imported king oysters, includes imported japanese beef lollipops, are you all right? liz is choking. let me get this out. a $3000 gravy with bourbon, bacon slabs. you want a whole slab? whipped sweet potatoes topped with 1600 ounce black caviar from the caspian sea. it has to be organic. organic turkey sauce from a free range farm in upstate new york, $105.
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look at this. some people in japan like to eat like donald trump. munch's burger from munch's burger shack, flooded with people around the block, want to eat the same cheeseburger donald trump had during his visit. it is part of a meal called the donald trump set. it includes 100% us angus beef, cheeseburger, etc.. side of fries, coleslaw. what does that cost? ashley: $20. stuart: $12. that is a steal in tokyo. are you done? how is this for luck? a woman in north carolina won the lottery twice in one day. it happened on sunday. she said she bought a scratch off and won $10,000 and bought another scratch off with a $1 million grand prize, she plans to spend money on retirement and her children as college education. the odds are that is not going to happen to you.
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that is the most fireworks in the senate, senators orin hatch and sherrod brown had a shouting match over the gop tax bill. you are going to see it because you asked for it. paul krugman has a new op-ed in the new york times titled everybody hates trump's tax plan. really? we are going to deal with that next. ♪ ♪
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stuart: no clue. who is it? nobody knows. the ojs. for the love of money. down 82 points for the love of money. a lot of red on the left-hand side of the screen, down 81. a debate over the gop tax reform bill turned into a shouting match on the senate
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finance committee. check out this exchange between orin hatch and sherrod brown. role tape. >> i resent anybody saying i'm doing this for the rich. give me a break. you guys overplay that all the time and it gets old. you want to quit. >> the public -- >> i'm not through. i get sick and tired of it. it is a nice political play. >> all due respect i get sick and tired of the richest -- >> regular order, mister chairman. regular order. regular order. >> how many times do we do this? >> i have honored you by allowing you to spar it out here. what you said was not right as i was saying. i come from the lower middle-class. i get tired of that.
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let me say something. if we work together to pull this country out of every mess it is in, i like you personally very much but this bull crap you guys throw out gets old after a while and to do it right at the end of this was not right. stuart: we have run that three times in the last hour and it never gets old. come on in, bill johnson from ohio. your reaction please? >> i relate to what senator hatch said. i come from the lower middle-class too and though i get along well with senator brown, he is simply wrong. go talk to the people i represent on the appalachian corridor on the ohio quarter, families want to see more in their paychecks, businesses want to hire and grow and expand and want to see our economy get going again.
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farmers want to be able to pass what they worked for for generation on to their kids without the federal government taking it away from them. i think senator brown is wrong. stuart: bottom line, the basic fact is if this tax deal goes through pretty much as is there are a lot of very wealthy people, high income earners in america who will be paying a whole lot more, a whole lot more. the rich, the 1% of income earners, many in high tax states will pay more. i hate this class warfare we get in america these days. it reminds me of growing up in england, class warfare. i flat-out hate it. i had my say. last 20 seconds to you. >> i hate it too. it is not the right rhetoric for america today. the plan the house put out yesterday is going to give all americans in every tax bracket a break.
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you will see a raise in your paycheck and more flexibility and pursue the american dream on your terms. that makes this great. stuart: the new york times, the economic columnist, professor, i love that graphic, has an opinion piece entitled everybody hates the trump tax plan and he repeats a lot of class warfare stuff, the claim that cutting taxes on corporate profits leads to an explosion of investment and growth, wrong. the idea that rising incomes, higher wages, will raise tax receipts so tax cuts pay for themselves, wrong, he says. we nailed this on the head. >> absolutely. i am not surprised a media elite from new york that doesn't like the president probably didn't vote for the president would disagree with this tax plan but he's not talking to the people on main street america. he is not talking to the
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business owners and the families that are struggling to get by. 85% of the people in my district under the current tax code don't even use or itemize their deductions. imagine what that will do for families when they see a doubling of standard deduction in the first $2400 come to them tax-free. this is a huge tax relief package for middle-class and low income americans. stuart: why are you at work? you are on capitol hill, everyone else has gone home sprinting down the steps. why are you still there? >> you made me hungry from that last one talking about cheeseburgers, french fries and coleslaw, starving to death. i am a fly boy, stewart. we are on the job all the time. this is a full-time job.
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it is not workable days. stuart: which would you prefer, $76,000 thanks giving special in new york city or the $12 tokyo hamburger cheeseburger the president enjoyed? >> there is one thing new york and ohio agree on, a cheeseburger with fries and coleslaw is all-american. i would love it. stuart: you have not seen the elites in new york who wouldn't be seen dead eating a hamburger and that is the truth. it was fun, thanks for being with us, much obliged. now this, democrat senator al franken facing calls to step down after a voter surface showing him groping a woman on a uso tour in 2006, lawrence jones, host of the blaze. let's get this clear. he apologized, the lady accepted his apology, should he step down? >> yes. are we going to have different
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standards for democrats? clean house on all of them. stuart: pretty tough stuff. he apologized, she accepted. >> they were just calling to expel roy moore before he got to the senate which i think is right. why have a double standard for the democrats? i'm all for cleaning the republicans out, getting rid of all the scumbags, people who don't respect women, the prey on children but the left has to do this as well so he should go. stuart: should there be a difference in punishment between those who assault women, rape women and those who harass them without touching, that kind of sexual aggression, should there be a difference? it should be in the court of law a difference but in to go.
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i wisht would be as agessive on thdemocrats as they aren the republans. so he has to go. stuart: yogot a clean-t opinion taking hard linet that. you are an equal opportunity punishment guy, republicans, democrats are like, you do that, you are out and i can understand your line. i want to bring this to your attention, the trump administration reportedly reinstating a catch and release policy for illegal immigrants crossing the border in texas, the border patrol says room for people they are catching, this is catch and release all over again. you are a texas guy, what is going on? is it because we haven't built the wall yet? >> i want to know if the president is aware of this, a president who ran on strong
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borders, a tough immigration policy. i would like to hear from the horse's mouth come at the scene of the border patrol is in preventing this policy, some difficulties after the transition of general kelly, chief of staff that him and the deputy didn't necessarily on the same line. is this the leadership within the agency or coming from the top. if it is coming from the top the president has to answer for this because this is something he ran aggressively on. in the state of texas we have our own border security and governor abbott as well as our attorney general, not going to be allowing this in our state. stuart: good to hear from you. i want to do the bro hug. you didn't hear me. the audio went down.
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you are okay, everything will be fine, see you next week. no idea. stuart: new york islanders, hockey team inviting a special guest to their military last night against the carolina panthers. a black lab service dog dropped the ceremonial puck, training to be a military service dog. the trump administration lifting a ban on importing elephant trophies from africa. some are outraged and i can't understand why they are letting him do this. we are on it next, the senate will take up tax reform after thanksgiving and i want to know are they going to mess this up? i will ask a top conservative what he thinks. ♪
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nicole: i'm nicole pedallides, close look at casino stocks particularly caesars entertainment down $.32. it plans to buy two indiana casinos. the cost of this deal roughly $1.7 billion. this was just weeks after they came out of bankruptcy, these are the details of this deal and we have to say this
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agreement to purchase these, indiana grand racing, casino in indiana, this is all moving to an area that is economically ready for this extension and scheming. taking a look at all the casinos this year have done very well. wind resource up 77%, caesars up 50% in the market. let's begin.
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yes or no? do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online. i used to have more hair. i used to have more color. and... i used to have cancer. i beat it. i did. not alone. i used to have no idea what the american cancer society did. research? yeah. but also free rides to chemo and free lodging near hospitals. i used to maybe give a little. then i got so much back. i used to have cancer. please give at
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stuart: apple says it needs more time before the home pod, before it is ready to be in people's homes, in the us, uk and australia early next year. not affecting stock which is down $.30. bankrupt drugs getting a backlash, they want to give $16 billion of bonuses to top executives. the execs will only get the money if the company does well this holiday season. by the way the company went bankrupt in september, now needs court approval for any business decisions was back to taxes. can it pass the tax package? the american conservative union, you know my story, my question. it is inconceivable that the
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republican party in the senate will reject tax cuts at the very last minute having gone past the hurdles of the house, past the senate finance committee, inconceivable to me that they don't get it done. how about you? >> the politics of it are all on one side. if a republican majority can't get their major promised in which is cutting taxes, an issue that unifies, they are in big trouble. i agree they will get it done by the end of the year. stuart: i am saying 90% sure they get it done. are you with me at that level? >> i might go to 91. stuart: i don't think any republican senator wants to be the one who thinks the trump growth plan, who thinks the republican party and the elections next year. i can't think of who that republican senator would be,
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can you? >> i can think of one republican senator from a real northern state, susan collins, who helped torpedo the health care plan and i worry about john mccain who seems to be increasingly curmudgeonly unless some of his votes too, i don't think mitch mcconnell has an easy job ahead of him but we can get it done but it could be harry between now and then. stuart: this juncture, democrats are saying it is a give away to the rich, giveaway to big corporations. the middle class will lose, money will be taken off the middle-class. i am labeling that a flat out lie. in an interview, getting confused, i do apologize, you answer that one for me. >> i think the democratic class warfare lie as you call them
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are old, tired. after eight years of progressive keynesian economic under barack obama the working-class people of this country did not see an increase in take-home pay and we had terrible economic growth lose the eight years of the obama economy is an indictment on the arguments progressives are making. the donald trump approach to the economy is to allow investors, families, individuals, people who want to try something in the marketplace including us corporations to be able to compete, invest, for all of us to increase economic prospects. stuart: listen to this, this is breaking news, in an interview with mother jones, hillary clinton questioning the legitimacy of the election, citing russian interference and widespread voter suppression. respond to that. >> let me get this straight.
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i'm having a flashback that i would like you to and you were lecture to during the campaign that we were risking our democracy when we questions legitimacy of our elections, risking our democracy and donald trump wouldn't accept the results of the election. on election night who didn't accept the result of the election on election night? hillary clinton didn't accept a result of the election. now she is doing what the clinton plan to do, charging us with what she is guilty of. if anyone was guilty of collusion with vladimir putin's cronies in the election it was hillary clinton with this bogus paid for dossier. stuart: that is good stuff, tour they force. >> i had a year to about this. it is bothering me. stuart: i can tell. the senate tax plan, class warfare, hillary clinton. and about 21/2 minutes your pretty good at this. >> and another minute i could work and bob menendez. stuart: you got a minute, tell me about bob menendez. >> a standard in the senate,
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that you have a credible claim against you of sexual harassment we can see more senators in the senate and we have seen in more political change that we have ever seen. a lot of people are sweating in the senate right now. stuart: a good note to end it on. you are very good at this and appreciate you being with us. weapons that could strike the us in 14 minutes inching toward reality. china is building the world's fastest wins tunnel to test the idea. officials say the structure will simulate hypersonic flight. chinese scientists say top speeds could reach 2500 miles an hour. they are aiming for the southerly to be up and running by 2020. now this. hunters will soon be able to bring elephant trophies back to america. next of a lawyer who wants elephant right. never thought i would say that one. he is here in a moment.
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♪ terrains down in africa ♪ the rains down in africa ♪ the rains down in africa ♪
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stuart: got to shake your head at this, hunters will soon be
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able to bring back elephant trophies from africa. the trump administration is lifting a ban on those trophy imports. kevin schneider is with us, executive director of the non-human rights project. before we get into nonhuman rights in court i got to say i definitely agree with you. i can't understand what a trump administration would allow these trophies to come back in the shooting of elephants in africa. >> it is anti-science and stems from this fundamental problem. the law regards elephants and all other nonhuman animals as things. that is white as possible to be in a situation where we are lifting this and. stuart: you can't just agree with me and say we should not be shooting these beautiful creatures, you got to carry it further to the point you are saying animals must have the same rights as humans.
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that is the bottom line, isn't it? >> we follow the science. we file cases on behalf of chimpanzees, we believe the science is there for all the great apes, elephants, both species of elephants and arguments that hew to science because that is what drives, we think, will drive this -- stuart: you want to give legal rights in court. >> very limited rights. stuart: hold on. a limited right now, you know the camel's nose under the tent and you will expand this thing enormously in the future. you will have zoo animals suing the zoo on the ground they are held in captivity aren't you? >> that is a principled argument justified -- stuart: that is where you are going. >> we are already after zoos but it is not about removing them from -- we cherish elephants. most people can agree across the spectrum and be appalled by this move. stuart: why can't my kids go to the circus into a zoo and the elephant? >> there are ways to appreciate
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and respect these animals while not treating them as trivial objects, as things. that is what this reversal of this band is and what uses of entertainment, ringling shutdown, new york city band animals. stuart: you are happy about that? >> couldn't be more happy. there is plenty of other -- there is more fun you can have -- stuart: to see elephants without going to africa? >> trap on a virtual-reality head that. stuart: please. >> go to a sanctuary with a telescope. the when you got kids? >> not yet. according to you i still am one. stuart: joking about that. i am a grandfather with nine grandchildren, six children, i used to take them to the zoo, the circus, grand old time, nothing wrong with that. >> if we keep regarding them as things by the time i am a grandfather there will be none of the left. that is the reality. we have seen all the efforts we have attempted fall short of rights. when you don't have rights you are vulnerable to these abuses
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and vulnerable to being killed because your life is not given its meaning and its full worth under the law as it should. stuart: back to the original thing. do you have any idea why the trump administration would lift the ban on trophies? is at all ivory product you can bring in? >> also the heads. stuart: why did they do that? >> i can't speak to the pathology that would drive such a desire. it is there. it is something we have to reckon with. our way of doing that is filing lawsuits demanding their rights. stuart: you e doing your right. kevin schneir, we appreciate it. there will be mo varney after th. ♪ ♪ make my way back home. ♪ ♪
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stuart: walmart, the company, is preordering tesla's new electric trucks. walmart has preordered five
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vehicles for the united states, and 10 for canada. tesla's stock up. walmart down. maybe for other reasons. that's it. friday afternoon, almost. my time is up. neil, sir, it is yours. neil: thank you, stuart. we're on the tax reform effort. clear that the senate finance committee is long way from down. full senate will take this up presumably after thanksgiving. they want this done before december 12th. if that date rings a bell, that is special election in alabama. there are polls that show roy moore could be a world of polling hurt. down nine points in latest numbers. that doesn't necessarily mean he loses. right now in the polls, they're consistent now, he is losing. independent journal review, erin mcpike. "daily caller" news foundation. chris bedford. erin, to you the rush in the senate to get this done well before this time. sounds like


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