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tv   Varney Company  FOX Business  July 24, 2018 9:00am-12:00pm EDT

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going on behind the scenes whether comey or brennan, bubbling up to the surface. >> from the irs to the department of justice, we talk about it in there. dagen: absolutely. friends all, how we end this program, marie, jason, mike block. varney, take it away. stuart: good morning, dagen. how are you doing? good morning, everyone. america's big companies are swimming in money. we're in the middle of the profit reporting season. the results are spectacular, up a whopping 26% so far. a long time since corporate america had it so good. i will start with google, alphabet. the stock premarket shows it, up what, 50 bucks? $50.53 that is roughly. alphabet brought in two billion dollars a week in advertising revenue. beat that. turn to defense company lockheed martin, they reported
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early this morning. spectacular. look at that stock take off, 2 1/2% higher. eight bucks up. facebook they report late tomorrow. maybe investors are jumping the gun expecting another spectacular performance. facebook at another record high. that is premarket. $215 on facebook. all of this helps the overall market. we will open with a triple digit gain for the dow, way up there, 120 points maybe at the opening bell 19 minutes away. six months ago the dow set a record high just above 26,000. at these profit numbers we're looking at summer rally within striking distance of another all-time high. 4% growth, huge profits, stock market rally. yeah, tuesday, july the it 4th. "varney & company" is about to begin. ♪
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stuart: i'm laughing, look at this, a presidential tweet on trade first thing this morning, absolutely no backing up. look at this, quote, tariffs are the greatest. either a country which has treated the united states unfairly on trade negotiate as trade deal or gets hit with tariffs. it is as simple as that. everybody is talking. remember we are the piggybank that's being robbed. all will be great. he is repeating his hard-line. no backing away. liz, susan, i think super strong u.s. economy gives him leverage. what say you, liz? liz: he is cashing in. other countries can think tariffs are great too. goldman is saying earnings per share forecast cut by 1/7. many companies are talking about earnings and tax cuts. stuart: are you a freeing or disagreeing? >> disagreeing. stuart: i thought so. susan. >> i think he is setting
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groundwork for the meeting with the e.u. commission, jean-claude juncker who arrivals in d.c. wednesday. foe or friend, eu has 150 billion-dollar surplus. we're talking about 20% tariff on imported cars, which affects $50 billion of european goods. you are just smiling today, aren't you? stuart: lizzie, take a lesson, will you? liz: i disagree. we'll have more on the show. stuart: we have three hours more. what is wrong with that get back to alphabet google. it will open at all-time high. it posted blowout numbers. i repeat they generated two billion dollars a week in ad revenue. $5 billion fine from the europeans doesn't look so big, does it? here is "market watcher" mike murphy. nothing will stop their expansion in the immediate future, right? >> stuart, they're appealing that fine. if you tyke that $5 billion if it gets reduced at all, it makes
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that quarter from google that much more impressive. look where they are making money is in advertising. companies small and large, they realize if they need to reach you the consumer best way to reach it is google and what else is moving facebook. those are the two giants out there. liz: mike makes a great point. microsoft appealed the fine and stretched out the appeal and got it reduced. bottom line, google will appeal it and retrace it. >> earnings call, talk about due process. stuart: spit it out. liz: stretch it out, right. stuart: sorry. google made so much money, mike, that the europeans might turn around saying you can afford 5 billion, you can afford a lot more. >> they may. google has gentleman of donald j. trump putting it out on twitter, saying unfair fine against one of the great american companies, google. more to come from google.
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stuart: 25 minutes from now the market opens. how will it open? i tell you it is going up. about 120 points higher for the dow, 28 for the nasdaq. all across the board we'll see that market go up tuesday morning. mike, still with me, this is summer rally? we're in middle of it? >> summer rally. 26,000 level you talked about, the old highs. we need to make a wrong. strong profits say this market has room to run. stuart: you have no trouble telling our viewers to put more money into the market even at these high levels? >> put money into the market because these levels, high levels as you put it are being supported by growth and stronger earnings and great overall u.s. economy. stuart: stay there, mike. bring you back at 9:30 when the market opens. house tax writing committee kevin brady will outline tax cuts or tax changes. they will make it easier for middle america to save for
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retirement and make individual tax cuts permanent. come on in fox news contributor kevin jackson. i see this as a tough problem for senate democrats. are they going to turn down something that will help the middle class? >> they will, stuart. stuart: that is restaurant forward answer, kevin. >> amen. what else we got to talk about this segment? stuart: they will cut their own throats. this will help middle america, senate democrats vulnerable in many states will say no, we're not going to help you? >> i think senate democrats who are vulnerable, mccaskill, people like that and manchin they will do at same thing they looked at for most of trump's policies start coming along getting on the trump train, but the senate, democrats, they have too much investment in failure, policies of barack obama to suddenly say, hey, let's start looking at donald trump as savior of the economy. so the senate overall in terms of democrats platform they will
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be anti-trump. the few, the people that will need those votes and need the trump supporters to in order to save their skin, sure they will take a look at it. stuart: the measures i think they're talking about make individual tax cuts permanent and make it easier to save in your 401(k) and your ira. >> rock and a hard place. stuart: right but it doesn't actually -- even if it passed it wouldn't actually give much of a jolt to the economy, would it? it is more of a political trap than anything else. >> i agree. total trap it. will put democrats as i said earlier in a rock and a hard place because these are things that will stay forever, in other words through the trump presidency, who knows how far beyond. so i look at it from that standpoint of a trap. as far as what it will do to the economy, trump already set the economy up for this, i call it a tsunami, i mean tsunami in a good way because when we look at
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all the trade practices we talk about whether with the eu or china where we have 375 billion-dollar trade deficit, i think things he is put into place with that what will roar in during the summer. that is being reflected right now, you're starting to see that the backfilling of the policies that trump laid out, as many as six, seven months ago. stuart: you approve the trump hard-line on trade, don't you? >> absolutely do. look, he is issued a tweet that said how about we make trade fair and get rid of tariffs. european union didn't respond. they don't want to respond because as somebody said earlier in the broadcast we're the piggybank that is being robbed. that is the case for decades, you say start looking at these actual tariffs, 200% plus on dairy out of canada, many others just as egregious, it is time that the united states stand up for itself. look whatever the outcome is, stuart, here is the big number about, if we have 800 billion-dollar trade
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deficit, if donald trump said, tell you what, we'll cut off all trade with other countries, we'll put $800 billion back into the economy, i will prop up everybody that is hurt with whatever trade policies i make, he would still have a surplus. stuart: radical kevin jackson joining us this morning. thanks for joining us. no i'm not. okay, whirlpool, look at that. they cut their full-year profit outlook. look to the future, profits not going to be so great because they can't necessarily offset the effects of steel tariffs. i will call whirlpool a trade wash walt. look at the stock go down, nearly 10% lower. better profit at harley-davidson however they expect motorcycle tariffs imposed by the europeans will cut into profits. nonetheless the stock is up 3.7%. drug maker see how it reacts. lost money but the stock is up about three bucks.
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president trump warns iran in a all caps tweet, don't ever threaten america again. iran foreign minister fires back again with a twit. liz, what did iranians say. liz: color us impressed. world heard harsher bluster a few months ago. we've been around for millenia and seen fall of empires including our own which lasted more than the life of some countries. in caps, be cautious, throw-down to the president's all cap tweet late sunday night. here is the issue for iran, pipelines out of the saudi arabia and u.a.e. coo handle any blockade of the strait of hormuz, what the eia says. even though iran is ratcheting up to 3.8 million barrels a day, 30% of global sea born oil trade comes through the strait pipeline could step up and opec could step up by pumping more oil. stuart: i iranians are in
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serious trouble. liz: they are. they don't have a patron like north korea with china. stuart: we're in a agreement, liz. two hours and 50 minutes still to go. check futures. we are up 100 points for the dow. another day, yes, another product recall. this time it is peppridge farm pulling goldfish crackers from the shelves. they could be contaminated with salmonella. scientists finding traces of radiation related to a disaster with california wine. more negative consequences from americans with disability act. more than 1000 lawsuits filed against websites for not being ada compliant. just since the start of the year. 1000 lawsuits. how do you make a website ada compliant? more "varney" after this. so all...
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stuart: three dow components reported their earnings first thing this morning united, verizon and. 3m in particular down 3 1/2%. now this. businesses hit by a report wave of lawsuits in connection with americans with disabilities act. in particular lawsuits that allege websites are not ada compliant. 1,000 such lawsuits actually filed this year alone, just so far this year, 2018, more this year then in all of 2017. one of the lawyers crunched numbers on this show joins us now. min welcome to the program. >> thank you. stuart: first of all, in what way is a website non-ada compliant? >> well, so websites have to be designed and constructed in a way that is accessible to people with disabilities. so people who are blind, for example, use screen reader software. that has to interact with the
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website. if the website is not designed to interact with it properly it is not going to work. stuart: so a blind person could sue the website and say, you're not taking care of me under the terms of the act, i want you to make sure you get it right and pay me some money, is that how it works? >> pretty much, yes. stuart: okay. supposing someone is deaf, can you insist that the website speak to you, as audio portion? that is part of it? >> well, actually if you're deaf you would want to have closed-captioning on on-line videos. stuart: okay. i'm sorry -- >> for blind people, yes. the blind people would need -- the website doesn't have to speak to them. the website has to compatible with screen reader software and reads content and functionality to the person who is blind. stuart: this kind of thing in america drives me nut. i find it a legal money grab. am i going too far? >> some of it is a money grab. some is legitimate. put it this way, everything is
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online now, right? so it is very difficult to basically do anything without being on a website and access it. those are legitimate concerns. and there are lots of advocates who are legitimately concerned. the problem is that many of the plaintiffs lawyers have figured out the vast majority of businesses don't have any accessible websites, because everybody was kind of caught with their pants down. there are no regulations. started to basically come out, your website has to be accessible. everybody is caught unaware. and these plaintiff lawyers are taking advantage. stuart: this could be wildly expensive. if every single website has to be ada compliant, that is wildly expensive, isn't it? >> it is really expensive, absolutely. you think about how many millions of websites are out there? i don't think there are enough consultants to help people. this is not something you and i can figure out. stuart: so the lawyer files the suit and says you're not
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compliant. what does the lawyer say? make your website compliant and/or give me money, is that how it works? >> no, usually they ask forgive me money and make the website compliant. stuart: give me money, punitively give me money. >> okay, the ada allows lawyers to get attorneys fees if they win. so as part of the settlement you will have to pay their fees, but sometimes the fees don't necessarily have anything to do with actual time spent. stuart: of course they don't. >> because otherwise the alternative to litigate the case, that is very expensive. stuart: i'm sorry, but i do find that a racket. a legalized racket. i'm sure you don't agree with me but last word to you. >> i'm sure, we do defense work, obviously we're benefiting from this, but the situation is wrong. there should be regulations on this there should a process, clear rules and time for businesses to make their
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websites accessible. stuart: all right. you're not quite joining me in the outrage but -- >> sorry. stuart: maybe you will. thank you for joining us. we appreciate it. >> thank you. stuart: where are we going now? we were going to be up about 120 now we'll be up about 90 points. looks like we're up at the opening bell. russians hacking into american power plants. feds say cyberattacks are still going on under our noses. we'll have details for you on that one right after this. my father passed this truck down to me, that's the same thing i want to do with you. it's an emotional thing to watch your child grow up and especially get behind the wheel. i want to keep you know, stacking up the memories and the miles and the years. he's gonna get mine -but i'm gonna get a new one. -oh yeah when it's time for your old chevy truck to become their new chevy truck, there's truck month. get 18% of msrp cash back on all silverado 1500 crew cab lt
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stuart: radioactive traces from fukushima nuclear disaster showing up in strangest of places. what is this, california wine country? >> i love california and napa wine. caesium that traces back to the 2011 fukushima disaster. it is not dangerous to you, right? it is heightened but faint. traces do not pose a health risk. lower than natural radioactivity around the world. reminds you how widespread the they are through the ocean and food chain and through california wine. stuart: low level, will not hurt
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you, but does it affect the taste. >> it says it affects bouquet. 9:00 a.m., yes. liz: 5:00 somewhere. stuart: very important story. here it is, hackers working for russian reportedly broke into control rooms for utilities here in america. what else? liz: homeland security saying hundreds of victims, not saying names, were broken into utilities last year. the fear is that they disguised themselves as utility officials, took screen shots of control panels. that they could power down the u.s. power system and cause blackouts during a time of economic problems for the u.s. stuart: wait a minute. they actually got in, real people, got inside of the control rooms and took pictures and walked out? liz: correct. not real people. they broke in via malware. there was fear they could do ransomware threats to us. so the theory is, they're waiting for economic downturn, some problem in the u.s. to cause blackouts in the u.s. you
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know the companies may not know that these guys, they fear they are russians are still in these utilities across the country. stuart: ah, but what could we do to them if they do that to us? liz: scary story of the day. stuart: i would love to know. i haven't heard what we could do to them. i'm sure it is catastrophic. we were going to be up 120, ten minutes ago. now we'll be up0. market opens four 1/2 minutes and we'll take you there. ♪
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stuart: in one minute the trading session begins on this tuesday morning. we chosed the dow yesterday at 25,044. that means we're about 1000 points and change away from the all-time record high for the dow which was set in january of this year. just above 26,000. so here we are, in middle of what i think is a summer rally. with lost reports rolling in that are absolutely spectacular. so far of all the big companies told us their financial results, 26, profits are up 26%. that is almost unheard of. you rarely get that kind of profits increase but we're getting it right now.
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microsoft and google already reported, they're even more spectacular results this is a profit bonanza, a back drop to the market this tuesday morning. [opening bell rings] you heard the bell ringing. you see them applauding at big board and nasdaq. 9:30 tuesday morning, where are we going? up is the answer to. we're up 57, up 51, up 79. 76. we're up about a third of 1% in the very early going. i see a lot of green among the dow 30. s&p 500, where is that in the early going? up half a percentage point. get away from the dow 30. the gains are better. look at nasdaq, you get into the technology companies you have a gain of almost 1%. up 71, 72 points now for the nasdaq. just a little shy of 8,000. who would have thought we would get there. three dow companies united, verizon tech and 3m reporting
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profit this is morning all of them pretty good. 3m down 2 1/2%. we'll figure that one out later. alphabet is record high. alphabet this morning up $57. that is up 4.7%. facebook, microsoft hit all-time record highs. nasdaq, all-time record high. who is with me on very difficult day when the stock market going straight up? who is with me? elizabeth macdonald, susanly, mike murphy. i will will start with google. susan, i'm grown away by those numbers. susan: blown away. firing on all sillers. a-plus quarter. everything is working for them. if you include the eu fine, it was $4 and change in earnings. they're still fighting that as they mentioned on the earnings call. traffic acquisition calls, how
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much they pay websites to drive traffic or handset makers to drive traffic to them, they have been criticized spending too much. traffic acquisition costs went down in the quarter, tuesdaying revenue went up. that is the kind of scenario that you want. alphabet rallying 4 1/2% today. stuart: 5% as we speak. it is now up $60. that is a 5% gain. show me facebook. i believe it opened at all-time record high. it reports its numbers tomorrow afternoon after the bell. $214 a share on facebook. are you buying? >> i would not buy it here. i would expect a great quarter from facebook. we owned the stock at much lower price. i would not tell anybody at home who missed run to jump out in front of an earnings call. that being said i think they will have a massive quarter. where google and facebook are making company from the advertising. from small companies up to the large companies, if you want to reach the consumer go through facebook and google.
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liz: news from facebook. quietly launched a unit in china, in the backyard of alibaba. facebook is censoredded there. whatsapp is censored there. a lot of social media sites are censored there. i think facebook is being pretty smart here. stuart: interesting the stock is way up. 215 on facebook. market overall reached a goal of up 100 points for the dow industrials, up 113 as we speak. 25,167. big gain for nasdaq up almost 70 points. what's next? president trump, can't ignore this, tweeting first thing this morning about trade. look at this. tariffs are the greatest. either a countries with has treated the united states unfairly on trade negotiate as fair deal or it gets hit with tariffs. it is as simple as that and everybody is talking. remember we are the piggybank
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that's being robbed. all will be great. there you have it, murph. trade headline and market goes up. >> stuart i believe if the we have a unfair trade deal, you and i, united states and any country i want to make it fair. you can retaliate if you like and put tariffs back on us but at the end we'll have a fair deal for the united states who will not be taken advantage of. if you have a company here in the united states i think that is a positive for you. stuart: we have got such a strong economy, i keep coming back to this, we have 4% growth, you can take a strong position with other countries not showing such a strong economy. china slowing down, stock market is down 20%. we have leverage here. liz: it is not zero sum thing. tariff are sales tax. i agree with steve forbes. i tell you something, other countries think tariffs are great too. this is basically, feels slippery and ad hoc.
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policy on the fly. i agree with fair trade, zero tariffs and all that yeah. >> if stuart taxes my products then i will tax his. get rid of them. liz: that is in theory right now. i don't see countries signing up that. i'm being pragmatic and realistic. stuart: we could end up with a deal where there are no tariffs with certain countries. liz: i agree. stuart: dow is up 13points. 25,180 is where we are. couple individual stocks. biogen, raised its forecast. when you do that the stock generally goes up. biogen stock up 5 1/2%. look at jetblue hit by higher jet fuel costs and that stock is down 3%. 19 on jetblue. drugmaker eli lilly, it lost money. sales were up. investors looking at the up seas. the stock is up 2%.
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kimberly clark make variety of products including kleenex. lousy forecast, when you do that your stock goes down. they blame higher commodity costs and strong dollar. the stock is down 1.25%. lockheed martin number one weapons supplier. raised sales forecast. strong demand for the f-35 fighter jet. better profit atly davidson, it expects motorcycle tariffs to cut into products that is the future. the stock is up 4 1/2%. i will not call that a trade casualty. i with i will say whirlpool is a trade casualty. they cut the full-year profit outlook. they can't offset effects of steel tariffs. going down 11% lower. i call that a trade casualty. >> if you look through whirlpool's announcement, the company has a lot more going on here. they made a big acquisition going on italy. having a a hard time getting
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going in the right direction. they paid over a billion dollars. this to me looks like a convenient time to blame a weak quarter on tariffs. i think there is a lot more wrong with whirlpool with tariffs. liz: sorry, said costs went up 350 million because of tariffs. that is 6% of the sales. if they can't give you holiday discounts on washer dryers which is the bulk of sales. >> sales up 12% in first three months. prices are going up, people are not buying as much as they used to. i would call it a trade casualty. stuart: liz will disagree. liz: i agree. stuart: we'll sort it out. nike, show me that stock please. nike. 10% of their staff going to get a salary boost to address equal pay concerns. wait a minutes susan. they have 7,000 employees. much. >> 74,000 global employees. 10 percent is 7,000 employees will get a bonus. a pay adjustment basically after
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internal review. there has been upheaval at nike with 11 executives leaving for, some accusations of inappropriate work place behavior. heir apparent to mark parker, trevor edwards had to leave earlier on. this is raising salaries. annual rewards will be changed. more on global metric. stuart: the stock recovered. >> some of this had to do with tax cuts? is the company keeping more money and spreading out to lower level workers? stuart: that is backdoor bonus and if you're right. i don't know that for a fact. i think they're addressing -- susan: why 7,000 employees if that is the case? why 74,000? >> baby steps. stuart: you seen the movie, what about bob? baby steps. my all-time favorite movies. look at toy-maker hasbro moving production out of china because of trade concerns. you remember everything, every single toy you ever bought was made in china. not now.
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anything to say about that? >> i do. it is funny everything was made in china. now we're bringing some stuff back home to the united states to other parts in the world. liz: or to vietnam. >> good for consumers. stuart: here is interesting story, yelp. they will roll out restaurant hygiene stores nationwide. so, you walk into a restaurant. yelp has judged it hygienewise. you will take any notice of that? liz: i think really, really an having development because hard to find hygiene information from local cities and towns. they're trying to -- we're saying, but not in every city. what yelp is saying not in every city. trying to standardize it for you. you go to their website. find information. stuart: isn't that system rife with potential for really being nasty? liz: could be, yeah. stuart: i saw a mouse dropping in the corner. ly you're for the tort bar here? i'm teasing you. stuart: no. my person point of view i would
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never pay attention to hygiene rating posted in a restaurant or posted on yelp ever. i could care less. >> i think you're in the minority, stuart. younger people i think pay a lot of attention to different sorts of reviews online, millenials. stuart: that is ageism, murphy. >> you got me. stuart: guess what, 9:40 eastern time, time's up murphy. you're done. thank you, mike. good to see you. check the big board, we're going straight up some more. look at this. we're up 150 points, very close to 25,200. next case, the farm be industry, farmers generally hit hard by president trump's proposed tariffs and tariffs in china as well. coming up next iowa senator joni ernst, she comes from the heart of farm country, how do they are constituents people about tariffs? we'll be back with more after this. ♪
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stuart: president trump departing joint base andrews. he is going to kansas city, he is going to speak at a veterans of foreign wars event. the president is following socialist alexandria ocasio-cortez, and also bernie sanders. they were campaigning in kansas over the weekend. the president is going there as of now. okay. president trump is getting ready to roll back emission standards. what do you got on that, liz? liz: boy, this is his biggest regulatory rollback so far. it basically seeks to revoke california authority to regulate emissions. it is, it is set up for a big fight because now california is pushing back. we had nearly five-decade ability to write our own tail pipe emissions rules. this is the most populist u.s. state. 16 other states have filed a
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lawsuit to stop the trump administration. big fight going on right now in california over auto emissions. stuart: i believe that was announced earlier, that he intended to do this. this is not something brand new fresh out of the box. liz: that is correct. stuart: he did intend to do it. whether he gets it through. california is the sticking point. liz: that is correct. stuart: if they stick with what they to the, they dictate emissions policy for rest of the country. such a big market. basically the president going up against california. liz: going up against california and obama administration 2009 waiver let california set its own rules. 35 miles per gallon fleet average. that is what the president asking for. the obama rule ratcheted up to 50 miles -- mpg by 2025. stuart: so far of all the big companies reporting profits are up 26%. a long time since you got that kind of thing happening.
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we have record highs this morning. well look at that, the dow is up 138, 25,180, 1000 points and change away from the all-time record high. it is a up market this tuesday morning. want to get to trade and bring in senator joni ernst, republican from iowa. madam senator, you're in the farm belt obviously and farmers are getting hit by these tariffs that are being proposed. do you support the president and his very hard-line on trade? >> well, i support the president in trying to get better trade deals. i think that is a great idea and i'm glad that the president is following through, however, we have seen that america's farmers and ranchers are being caught in the cross-hairs and what iowa farmers, what i have heard from them, they would rather see trade, not aid. stuart: do you anticipate a trade settlement on a grand scale in the president's first
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term? i mean, you're looking forward to that. do you expect it? >> i am very hopeful, stuart. i would love to see that. and i would love to see that sooner rather than later. i have no doubt that the president is going to get grade trade deals for us, but in the meantime we do have farmers renegotiating contracts this fall. they have to be able to take something to the bank. right now we just don't see that with the depressed markets. stuart: the president visits iowa tomorrow, i believe. what is his reception going to be? >> i think his reception will be very mixed. on one hand with the tax cuts and jobs act it has been a wonderful, wonderful boon for the state of iowa, our middle and low income wage earners. they have really seen some great benefits but then again our farmers, which are quite the mainstay in iowa are really feeling the pinch of those tariffs. the retaliation has been pretty
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heavy directed at agriculture. stuart: before you go, i do want to ask you about opportunity zones. i believe you sponsored some legislation which would open up these opportunity zones. would you briefly tell us about it? >> absolutely. this was the investing in opportunity act which was sponsored by my dear friend senator tim scott of south carolina and what it does, it allows investors, private investor to invest their capital gains into a distressed area, a low income, census-tracked area and provide additional opportunity for those residents, for those schoolchildren, whether it is investing in, excuse me in additional buildings, building new, refurbishing old buildings, putting in high-speed internet, whatever the case may be, we want to see private capital investment going into those dises interested areas. with that -- distressed areas
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with that deferred capital-gains tax. stuart: that is the big deal, no capital-gains tax if you put money into opportunity zones. >> very big deal. stuart: you have this cosponsored bill with senator scott. when does it hit the senate? when is there a vote on it? >> it was actually passed as part of the tax cuts and jobs act. so the legislation is already in place. it has been signed by the president with the tax cuts bill. we are waiting on the u.s. treasury to finalize its rules. that should be done within the next week or so, so you got this in place? >> we've got it in place. it is going to happen. stuart: you see, senator, we're so used to proposals of legislation which really never go anywhere. what a joy it is to find you have got a proposal, it's a good one. it is going to happen. >> it is going to happen. stuart: it is going to happen, yes? >> it is. we're excited. we have 62 opportunity zones identified and approved by the u.s. treasury in the state of
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iowa. many more across the united states. stuart: thanks very much for joining us, senator. we'll follow the president when he visits iowa tomorrow. >> absolutely. thanks, stuart. stuart: where are we now? we're still with a nice solid gain. and we've got 26 of the dow 30 in the green and they're up and the dow is up 130 points. do you remember the last time our own jeff flock got on a plane for us? he flew a f-16 with the air force's thunderbird. he could barely stand when he got out. watch this we have to take a second to prep him. >> lord jesus. i say jeez. are we on the air, lori? stuart is there. oh, my god. stuart: it went downhill from there. jeff is back at it today. he is at a big airshow in wisconsin. he is flying with with the geicy typing team.
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will he need an airbag this time? more "varney" after this.
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stuart: goodness, gracious another food recall to tell you about. peppridge farm gold he fish recall. what is going on. susan: ritz crackers yesterday. now goldfish crackers. this is where they're being
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extra precautionary like ritz and mondelez. this goes back into key ingredient, whey powder. traces of sal salmonella in they powder. they want to be safe. don't eat any packages that you have. liz: all the food i love. stuart: ritz crackers goldfish. liz: delicious. stuart: president trump hosted a a made in america event at white house. we'll show you some tape. roll it. >> after many years of decline american manufacturing is coming back bigger, better, stronger than ever before. during the campaign, they said you will never add manufacturing jobs. that is obsolete they would say. obsolete is to make things is obsolete? i guess they were wrong, right. stuart: one executive of one of the companies in attendance joins us now. david antosh with roundhouse american-made jeans. first of all, what was it like when you got the call not
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directly from the mt. but the call to go to the white house? >> just an amazing opportunity. we're delighted to be able to show of the american-made jeans at the white house. stuart: you produce, you make, manufacture in oklahoma i think, right? >> well we actually opened our third factory last year. we now have three factories, oklahoma, kansas and texas. first time in 115 years, roundhouse american-made jeans has three factories producing american-made jeans. stuart: if i didn't know better, i'm looking at pictures on the screen right now, would i say your product is very similar to carhart products, is that true? >> it's a lot better than carhart but similar. stuart: i knew you would say that but you are 100% american-made, correct? >> all of our jeans are american-made. we just opened our third factory so we have more american workers making american-made products than ever before. stuart: did you open your third factory because of the tax cut deal? >> that certainly didn't hurt.
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we had this in the plans for a while. we are always looking for workers, that is our biggest trouble right now, is finding enough workers. so, we have to find different places for new factories all the time. stuart: how much would i pay for a pair of your jeans? >> well that is the thing. our roundhouse american-made jeans are only $40, if you can believe it. so we priced them competitively with foreign-made. stuart: sign me up, young man. i was a carhart spy. now an american roundhouse guy. david, thanks for joining us. appreciate you being with us. good luck with your new factory. thank you. >> thank you. stuart: how about this? steny hoyer, now he is the number two democrat in the house. he is unveiled his plan, moderate democrat plan, to grow the economy. however, that plan has been totally overshadowed by the free money for all plan pushed by the socialist left. my take on that, coming up next.
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stuart: for some time we've been asking where is the democrats growth plan? it does exist but doesn't amount to much. steny hoyer is the number two democrat in-house) nancy posey. he's been touring the country pushing the make it an america plan. here it is. government run skills training for young jobseekers, more affordable health insurance, big infrastructure spending, roll back some of the tax break for businesses. that is the plan. i don't see anything new or dynamic and i don't see those policies having much appeal to voters. after all, with the trump growth plan in place america is enjoying 4% growth rising wages and record low unemployment. how would the make it in america plan after that? it will not. it would slow it down.
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tax and spend does not produce much growth. in fact, the middle-of-the-road non- plan has been completely overshadowed by the free college, medicare for all and free money plan pushed by the socialist left. that is what has attracted the attention. bernie sanders and alexandria ocasio-cortez stolen the show and pushed the old guard hoyer, pelosi, schumer into the back on. the point is, both plans are nonstarters. neither will produce anything like 4% growth. now, there are two wings of the democrat party. old-fashioned socialist and old-fashioned tax and spenders. it's a disaster and a nothing further. how do you go to the country with either plan when the economy is booming? the second hour of barney and company is about to begin.
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plenty of action on the money front will start with the dow industrials which are up about a hundred 30 points, half percent. 25100 is where we are. alphabet, facebook and microsoft, big-name technology companies and all of them are reaching all-time record highs this tuesday morning. then we have three of them, a dow stock the biggest drag on the dow and why is it down? they look to the future and said their guidance is not up to much. when you do that, stock is down. whirlpool is down big time today and it says it can't offset the effects of steel tariffs and raising prices to consumers. a lot going on at whirlpool and more than just the tariff issue and it is down 13%. the price of oil this morning is at $68 a barrel and back to my editorial, top of the hour. there's not much to congressman steny hoyer's plan to take back the house in november.
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join us is lawrence jones. i say it's a nothing burger. you have seen it but what do you say? >> stewart, i want to first off start off by saying that was a brilliant monologue. you nailed it. that's pretty much what it is but the problem is there are so many people on my side of the aisle laughing at the democrats with this whole socialism plan and this is what they mean. they want to undo everything nothing this president has done. they have selected outrage. it started with russia, then went to the kids at the border, that was the supreme court now it's russia again. then their candidates are full-blown socialist. stuart: it doesn't have any effect on president trump. in fact, his approval rating went up in the latest wall street journal, nbc poll and that poll was taken during and right after the summit with putin which was not well received, at all. it seems like he's a teflon
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president now in the eyes of the voting public. >> well, this president was always good with staying aligned with his base because he kept it on the economy. those same polling that you cited, stuart, said they really didn't care about russia and that the issue they care about - like they've always cared about is the economy. things that affect their daily lives. i would contend that the democrats are playing a dangerous game. there's no more reasonable democrats, stuart. these are full-blown socialist the believe the government should provide every single thing and i'm sorry, they won't even be able to convince the people on wall street that once supported them with this anti- capitalism message. stuart: doesn't resonate with some people in america? if you offer free college, free
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education, free medical care and you say, i will give you $500 a month, no questions asked and everyone gets it - i mean, how many people will buy that? >> here is the problem. it will not resonate with the blue dog democrats but from millennial's and the young people it will resonate with them. they are the largest growing voting block. that is concerning. as it relates to this next election, no, it probably won't affect them but as the years progressed i believe we may be in big trouble if we don't start reaching out to young people and letting them know that socialism does not work. stuart: you are a millennial and this doesn't appeal to you? >> i grew up poor, stuart. i realized that my parents taught me that the only way to make it out is hard work. i've had great success at my young age and i'm not going to
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turn the tables back and start working with this theory that i know fails. capitalism has worked great for me. stuart: you and i are very alike. i was born relatively poor in a class -based society and i was taught you get out of the trap with hard work so solution will not help you you are my brother, whether you like it or not. [laughter] >> i will see you soon, brother. stuart: i will see you again soon. good luck, sir. to the markets. look at alphabet otherwise known as google opened at an all-time high because a posted blowout profit numbers despite a 5 billion-dollar fine from the europeans. right now this thing is up for the present, pick $5 higher at 1265. come on in market watcher. scott, there he is. when google made so much money maybe the europeans will be inclined to say we will slap you
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with more fines because you can afford it. any chance of that? >> socialism that runs rampant over here and i know you know what that is like is they are seeing themselves as the arbiter or the judge of what is good and bad as far as american tech goes. it's so successful, right? that's great to see the numbers that abbott had we continue to see the european union frown upon that or that they are supposed to rain these companies in because things that are that they can make that much money can be good for the general public. stuart: more to come, i think, more fines and antitrust talk still to come. on the subject you are in london and i understand that london taxi drivers want to sue over and they say it's got an unfair advantage here but they are suing for one half billion dollars, scott?
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>> as you well no, i use uber all over the world and a big uber fan. it just doesn't work that well in london and it doesn't mean it has to work well everywhere and they struggle here. over 20000 roads that take the average cab driver to learn how to do and 10000 points of interest. those are what the tourism is based upon. good old - and london cab. when uber come here and so many cars and environmentally friendly as he thinks he is by that many uber cars on the road it defeats all the bicyclists and lanes. with so many uber clogging traffic and they don't have the knowledge that the cabdrivers do and there's a two-tier system. i understand why they want to do something about that and they are. stuart: i can understand that. before you go, scott, want to relate the president tweet this morning it's about trade. listen to this.
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by the way, scott, the president of the european commission and john claude junker comes to white house tomorrow to talk trade. here you have this dramatic trade headline from the president and in the past the market went down when you got a dramatic trade headline today it's gone straight up. what you make of that? >> part of it is due that we have a great economy in the states but folks are starting to line up by donald trump and his in ministration because he is right. we have been the atm to the world tree trade is fine but we cannot continue to go long way we are. everyone talks about what might happen if china does this or that eu does that but i'm not her one person to be a good argument on why we should keep it the same because not rocking
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the boat is not a good enough reason for me. everybody is worried about where we will go but i'm not heard anyone commit me that we should keep it the same. anna trump has the upper hand here. stuart: 20 seconds. if there's any improvement in president trump's stature amongst the brits connect. >> absolutely. i'm thinking about carrying a camera with me when i get in the back of the cap and do a miniseries like waters world. if you heard with you guys had to say be so proud of the country you are in right now. stuart: really? very interesting. scott, time is up but thank you for joining us. coming up, democrats are rallying call abolish ice. is it working? half of voters have a negative view of the agency, ice. we have a former ice agent to respond to that. iran, warning trump to be cautious in the terms headline
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or rather hardline on north korea seem to work. mike huckabee later on that this hour. kevin brady unveiling tax reform 2.0 today and did not work out so well for new york, new jersey and other blue states. we haven't new jersey congressman with us in a moment. you are watching the second hour of barley and company are in
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stuart: we are still hanging on to a triple digit gain for the dow up 126 right now. higher profit at harley-davidson and expect those motorcycle tariffs in the future to cut into profits and investors not listening to that. they like the stock and is up five and a half% right now.
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eli lilly, drugmaker, lost money and sales up and it's taking its animal health unit up shares are near a three-year high. that's eli lilly. meg whitman, former chief executive of ebay and hewlett-packard is first getting into the sports. >> burgeoning business of videogame playing. it's big. talking 400 million viewers for each sports and it's doubled 2014 to $800 million. meg whitman is up by a mistake in the la-based immortals. the only la franchise called the la valley and set place in the blizzard e sports league and when meg whitman is a smart woman, as you know, maybe there's something there. she's working with jeffrey katzenberg in los angeles and moved to los angeles and doing something in new tvs as well which is local viewing.
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stuart: e sports. that's one of our big stories. it's exploding. a billion-dollar business. extraordinary stuff. meg whitman, spots an opportunity and gets right in there but not surprised. congressman kevin brady's will unveil the second round of tax forms today. brady wants to make individual tax cuts permanent and make it easier to save for retirement. two key ingredients of the facts. joining us now republican congress men from new jersey which is a very blue state. sir, no matter what mr. brady does with tax cuts or tax reform 2.0 the original text the plan really hurt new jersey very, very badly, didn't it? >> i favored the complete deductibility of state and local taxes and that is now at $10000, the original proposal, a year ago, was not have any deductibility. i favored retaining full deductibility because stuart, that have been in our tax code since 1913. stuart: but that will not happen, will it?
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it will not be restored and you are stuck with the tax plan as is. as i understand it, 10% of new jersey households will end up in april painted more in tax. >> that is certainly possible but of course the standard deduction has been doubled and i favored that. i will continue to fight to retain the deductibility in its entirety and that fight continues. stuart: obviously, you are challenged in the forthcoming election in november will you when? >> of course, i will win. the district is a moderate district and i'm a moderate conservative in my opponent is a lifelong progressive democrat so those are not the views of the district but i believe in bipartisan cooperation and a member of what is known as a problem solvers caucus here on capitol hill. the best government, in my judgment, is from the center out and that is how i represent the district. stuart: you are in a very tough position, aren't you?
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>> i favor tax reform but i certainly favor the deductibility of state and local taxes and i will continue to advocate in that regard. in new jersey, however, our new governor's race taxes and raise business taxes and raises the state income tax and on the sales tax on certain items that have not been text previously and i think that is damaging to new jersey particularly the increased and the state corporate business tax. we now have the second highest state corporate tax in the united states. second only to iowa we worldwide new jersey? why is it that new jersey is now become one of the most highly taxed states in the nation whether it's income taxes, business taxes, uber taxes, air b&b taxes - why is it so key on tax and tax and tax? >> it's a move in the wrong
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direction and to answer your question, because we have a new democratic governor and complete control in the legislator by the democratic party. it makes us highly uncompetitive in the region particularly with our neighbors of new york and pennsylvania and very discouraging what has occurred in trenton and i oppose the tax increases that were put into place by our state legislator and new governor. stuart: thank you for joining us this morning. i know you're in the tough position but we appreciate you coming on a shelf. >> thank you. stuart: leonard lamb, republican new jersey. things got interesting to say the least and that is him, jeff, on an f-16 with the air force thunderbirds. jeff locke is back in the sky again. this time he's fine with the geico sky papers. he's up there right now and he'll join us later this hour. >> how did i do? >> you did great. absolutely awesome. i'm sure you say that to
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everybody. yes sir. out of the g-suit. >> you look way cooler. nah. not gonna happen.
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comcast business outmaneuver. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that combines america's largest, most reliable 4g lte with the most wi-fi hotspots. and it can be included with your internet. which could save you hundreds of dollars a year. plus, get $150 dollars when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. stuart: we have to check with what is happening with your money. we are up 186 points in the dow, 25200 price of gold is down but it is up at $12.38. bitcoin is a two-month high yesterday and i believe it's up a bit more today. 7000, no were down to $8184 and
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that is your bitcoin quote for the day. i will do the weather, no, someone else will. it's hot in phoenix and right now it's really hot. dangerously hot. come on in, fox news meteorologist janice dean. how hot will he get? >> that was a pretty good forecast. not only for arizona but stretching into southern california, all the way to the northwest area pete advisories. yes, in phoenix we're talking about 116 today so that is dangerously hot and i love a lot of folks say it's the desert and this is what happens in the summer but yes, but this is dangerously hot and we had to maybe set records. when you talk about 120 degrees in palm springs, 118 in yuma, 122 in death valley i wonder why they call it death valley? people are urged to stay indoors and use the air-conditioning and
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keep cool and bring the pesticide. this will be the situation but unfortunately not only today and as we head into the we can. intercede for a lot of the west and even stretching into words the southwest, the south, the southern plains for missing 100 degrees plus in dallas, texas for several weeks now. let's make mention that not a lot of moisture in this area. it's typically the time we see the monsoon season across the southwest and were not getting the moisture we really need for this area. dry and very hot and people need to take the precautions, back to you be one that was a fine forecast. could not have done better myself. >> yes, you can. stuart: janice dean, thank you for joining us. coming up, president trump has tariffs are the greatest and he said that this morning in a tweet. he's not alone and we will talk with a guy who runs an agricultural company is as trump made the right move with those tariffs. he will make his case. as entrance hard line on north korea looks to be working. north korea reportedly starting
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♪ stuart: you won't see me. that is very old one. liz: i'm sure you know the lyrics. stuart: back in the day, that was a great song. the harmony is superb. youngsters, appreciate the beatles. it 11 points for the
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dow industrials. 25,253. that is a summer rally. all-time highs for alphabet, facebook, microsoft. look at them go. microsoft is up 4%. quest diagnostics, performs lab services as you know. not a rosy forecast. you predict not a very good forecast for the future, your stock goes down 7% in this case. verizon, a dow stock, growing subscriber base. that is good for the stock. 3m not such a rosy forecast. not much effect from tariffs that is the biggest drag on the dow, 3m down 1%. united tech, biggest booster of the dow, raising forecast. strong demand for the parts. president trump tweeting all caps, big warning to iran, don't threaten us again?
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iran's foreign minister hit back with his own tweet. look at this. color us unimpressed. the world heard even harsher bluster a few months ago, an iranians have heard them albeit more civilized ones for 40 years. we've been around for millenia. seen fall of empires. be cautious. it goes on. mike huckabee, former governor of arkansas. governor, the president is taking hard-line on iran. i think it will be successful. just consider this for a second. what's the chance of president trump sitting down for a summit with the mullahs? >> i think anything is possible with this president. i wouldn't put anything past him. but i tell you what i wouldn't do, if i were the iranians, i wouldn't test his resolve. this is not obama. this is not even george w. bush. president trump i think has a genuine attitude that he is not
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going to let america get pushed around. i want to be very clear. this is not a president who is a warmonger. he doesn't want war. in fact he runs from it but he will not allow someone to do things that hurt americans like kidnap them and kill them, and support hamas and be the largest state sponsor of terror around the world. this is not about ego. this is about a rogue government that ran over its people, oppressed them, and that is funded the harshest kind of terrorism around the world and murdered thousands and thousand us of innocent people. stuart: well, it was the north koreans who were very guilty of this over the top language, threatening america, i can't remember the exact words. but it was threatening our very existence. the president reacted strongly to it. kim jong-un fell in line had a meeting with president and promises denuclearization. a research group says north korea is now abandoning and taking apart its missile
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facility. so you could say that the strong line on north korea worked well, and maybe it will work well with iran as well? >> you have to hope for that. i know this will be terrible news to the liberals and to the never trump republicans who don't think donald trump has done anything right despite what you announced with the economy and despite the fact that we're getting nato to kind of ramp up and start the member nations paying their own way. i think this is a president who has a very different approach to our foreign policy and frankly it has been working a heck of a lot better than the steal policy that we've been dealing with for several decades. stuart: what we don't always understand, we, america, were are operating from a position of great strength. when you have a 4% growth rate for your economy, you're a economically strong society. you can say stuff like that to
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the iranians because their economy is virtually collapsing? >> that is one of the problems that the iranians face. their people, who are good, decent, persian people have been more millennial, these people are suffering under this harsh, brutal regime. i think at some point they may rise up and overthrow this hideous government. that is what we can hope for. the only way this government has been able to stay in power by crushing spirits and economy of its people and leaving many of them in abject poverty. so this is not a strong country. iran's strength is only in the fact that they take all the money they get and they use it for weaponry and to murder people an to fund terrorism. that is not the way to build a long-term, successful economy and endear your population. stuart: what a pleasure it is to hear our president say, knock it off. don't use that language with us. we don't like it. what a pleasure. >> an mean it. stuart: an mean it.
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back it up too. i want to turn to trade for a moment. our next guest says he agrees with the president's tariffs. joining us is the ceo of summit agricultural group. now that is interesting. wait a second. you run ago cultural organization? >> we do. >> you're in favor of these tariffs? we heard farmers, agricultural sector is getting clobbered by the tariffs? >> i'm only in favor of tariffs to fix a problem going on for decades. for decades we've seen tariffs, we've seen barriers to selling products. it needs to be fixed. it isn't going to be fixed quickly. stuart: you're saying our agricultural products face barriers getting into other countries, china, europe, for example. they are tariff barriers. we face them. our president is doing something about it. >> he is doing something about it, to challenge having enough patience to get through it. also in the middle of growing season, a lot of products have
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shelf life. the market is depressed since anxiety started over trade. it needs to be dealt with, but hopefully dealt with pretty quickly to open up those markets. stuart: would it be true to say farmers in america are hurting because of these trade disputes right now? >> they are and you have farm income at a 12-year low. so timing of it is challenging. you have in the middle of the growing season you have increase in pork production, beef production, that was going to meet world demand for protein increase. all that is pretty critical that we deal with and stablize the markets because at the end of the day, you still have to sell something that you produce. stuart: you want a solution pretty fast, you don't want to go through this year and next year with this problem hanging over the farm sector? >> you don't. one of the challenges, stuart, you will create other competitors. it isn't like we're the only place in the world to go through for variety of products. brazil will increase soybean
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production and russia and grain will be increased and production can happen in the world with other agricultural products. we have the most efficient cost and lowest cost producer in the world if we have access. stuart: if china couldn't take our soybeans, they will lose, they need our cheap soybeans and hard to get soybeans from someplace else the same price? >> same price. they can invest in infrastructure in brazil. they ultimately can get the soybeans there. we need to be careful, deal with it. stuart: because those countries use american technology to produce products and crops we compete on. stuart: give me a time frame? you have to get this thing fixed by when? >> people will be patient. as trump says you don't want to exact deadline. stuart: you need it done by november? >> harvest, harvest starts september, october. stuart: you have a short time
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frame. you want a solution and you want it short therm? >> we do. there is other things he can do. there can be increased domestic production and increased ethanol production in the u.s. until he accomplishes what he needs to come accomplish. stuart: i think we have a check to write to farmers. >> checks are one thing but income is critical. stuart: thanks for joining us, sir. bruce, we appreciate it. >> thank you, sir. stuart: the country's largest airshow, underway in wisconsin. jeff flock's there. he is about to take off with geico sky typing team. there he is. what have you got for us, jeff? reporter: things i do for you, mr. varney. i remember another time up in the aircraft. larry arkin, his father founded the geico sky typers. i'm in old, t-6, at least navy variant of the t-6. give him a shot of other sky typers. look at the plane off to the left. look at that one.
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this air is full of aircraft today. larry, incredible. you type letters in the sky? >> we do a little bit of everything, jeff. we're known for our airshow routine which we'll do for the next few days. we type in the sky with giant letters. we do 25 letters in less than two minutes. >> reporter: that is business. if you're in the beach in new jersey in the summer you probably seen his work. sky writing. it is not writing but typing. >> it is called sky typing. we do that we'll do it here as we. we're so glad you can come to oshkosh 2018. reporter: larry by the way from long island and pilot for american airlines in your spare time. >> exactly. reporter: that is american airlines calling you there. i'm in the plane, stuart. i hope to come back to you after we finish. you know what happened last time we tried. >> we'll have a great ride today. beautiful weather. we'll show you some of our precision formation flying we do
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on the airshow routines. take you up with the geico sky typers airshow team which i think will be a experience. reporter: i'm out of your way. stuart: watch out for the geico gecko in the cockpit. coming up, new poll on i.c.e., immigration and enforcement people. half the voters have negative opinion of them. democrats are calling to abolish i.c.e. are they winning media battle? maybe. we're on it. senators tim scott and joanie earns teaming up to -- joni ernst teaming up to create opportunity zones. private capital in distressed areas. no capital-gains tax on it. tim scott with us next hour. i will ask him why did he travel to iowa and new hampshire lately. thinking about a presidential run, mr. senator? more "varney" after this. one second.
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♪ liz: iowa senator joni ernst is working with south carolina senator tim scott to make invests in low-income communities easier throughout the country. she told us about the legislation that is coming up. she talked about it last hour. let's take a listen. >> absolutely. this was the investing in opportunity act which was sponsored by my dear friend, senator tim scott of south carolina and what it does
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allow investors, private investors to invest their capital gains into a distressed area, a low income, census tracked area. provide additional opportunity for those residents, for those schoolchildren, whether it is investing in, excuse me, in additional buildings, building new, rerurbing old buildings, putting in high-speed internet. leave for your trip. add-on advantage. only when you book with expedia.
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stuart: we're staying with a gain of over 200 points for the dow industrials. that is pretty close to a 1% gain. 25,256. the dow component, apple, is well on track to be the first company to be worth a trillion dollars. it is just $52 billion away apple going strong again. biogen raised forecast for future performance, up 5%. jet fuel costs hurt the company. it is down 6%. stuart: democrats including kirsten gillibrand want to abolish i.c.e., immigration and enforcement people. new poll says voters are split. 38% have a positive view on i.c.e. 37% have a negative view.
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joining us david ward, former i.c.e. agent. >> thanks for having me back. stuart: nice to see you. how come half the people in this country, well, 37%, have a negative view of i.c.e.? i don't get it? >> you have these politicians out there, they have no clue themselves what i.c.e. does or border patrol for that matter. when it comes to enforcing immigration law, the left is like the possessed being sprinkled with holy water by an exorcist. they become unhinged, deappraised, vial, explaining what is going on. immigration and customs enforcement branch do a lot more than what they're claiming and a lot of hyperbole come out, that i.c.e. is taking babies from their mothers while they're feeding is absolute nonsense. i would call these politicians liars. i.c.e. is not on the southern border. the border patrol is trying to
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sort out foreign nationals coming into this country with families. stuart: that separation of families which gave rise to the negative view of i.c.e. >> had nothing to do with i.c.e. stuart: true, but you're, you're paying the price. >> of course we are. the i.c.e. agents put on their weapons every single day to go out to protect the country from another event like what happened on 9/11 and all the other terrorist acts gone on around the country. there are tens of thousands u.s. citizen victims in this country that were victimized by foreign nationals that came into this country. recently a little girl, 13 years old, mariah lopez, her head was cut off with a pocketknife, by members of the mexican cartel, not in the middle east, here in alabama. this kind of activity happens. we have our politicians, coming against i.c.e., who are trying to do the job that they dictated us to do through title 8 of the u.s. code. stuart: do you think there is any point to this?
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do the people that want to abolish i.c.e. do they have any kind of point at all, after what we saw at the border, i know i.c.e. wasn't involved, after what we saw at border, do they have a legitimate point in reforming our immigration system? >> no, they don't have a legitimate point. what do they want? they want open borders and don't want any immigration enforcement. them come out and said it time and time again. that is exactly what they want. they want to endanger our u.s. citizens this. is global event occurring by democrats, they want borders open, anyone from anywhere in the world can come into our country to set up shop. we can't have that. stuart: why do they want that? why do they want a flood of people coming in. >> it is a globalist agenda. they want a new world order where everybody can cross whatever border they want. in fact i don't know if your listeners know, canada, recently eliminated need for mexicans to have visa to come into mexico.
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here is what happening, mexicans fly into canada, without visas and crossing into the northern border. people don't know that, but that is what is happening. stuart: mr. ward, appreciate you being with us as always. fill us in what is going on. we like that. >> you're welcome. have a good day. stuart: runoff election happening today in georgia. brian kemp, versus casey cagle. whoever wins will face democrat stacy abrams. first black woman to be named a party's nominee for governor in georgia. we'll talk to brian kent how that race could go in georgia. ♪ your insurance rates skyrocket after a scratch so small you could fix it with a pen. how about using that pen to sign up for new insurance instead? for drivers with accident forgiveness, liberty mutual won't raise their rates
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stuart: our guest is georgia's secretary of state. he is running against casey cagle in the republican runoff for georgia's governor. president trump tweeting support for mr. kemp. he said today is the day to vote for brian kemp. will be great for georgia. full endorsement. brian kemp is with us. sir, if you beat cagle in this runoff today, you face democrat
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stacy abrams. if she wins, she would be the first african-american woman governor in america. so ultimately you could be running against history. how do you feel about that? >> well, i feel like i'm running against history now. i've been unapologetic conservative in this race. a lot of people didn't give me a chance early on against a guy that has been in office 24 straight years. as long as i have been married. i've been up against tough odds before. i did as well when i ran for the legislature against a liberal democrat in athens georgia, a great hometown, but a tough political environment for republicans. i'm ready for the challenge, looking forward to it. stuart: i don't have the ad immediately available, i think you did tv ads you're carrying a shotgun or something? the ad, controversial ad, what was it? >> it was only controversial in the minds of liberal media. stuart: i live in new jersey, sir. >> i had a shotgun and young man
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named jake, inquiring about one of my three teenage daughters i wanted to make sure he had a healthy appreciation for the second amendment and respect and it got a lot of attention, you're right about that. stuart: yes it did, sir, that is very true. the trump endorsement. gave you a full endorsement again today. that puts you up over the top? >> certainly pours gasoline on the fire that we had burning. our polling monday had us up 45-40. the president's endorsement along with the vice president, a lot of other great georgians like newt gingrich and hunter hill, clay tippens, michael williams, fellow competitors helped with that fire as well. i think we'll have a great night tonight. very grateful for the president's endorsement. we had an electric event with the vice president. the president and i line up on a lot of issues together, very similar. securing the border. i've been in the private sector literally for 30 years signing the front of not only my own
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paycheck but a lot of other folks we put to work in georgia. cutting government regulations is part of my again day, you're obviously very, very close to the president, obviously. is there any area where you disagree with the president? >> well, i think the president is doing a great job. i am standing with him. he is certainly standing with me. i'm very appreciative of that. you know is doing exactly what he told american people he would do. i think that is the big issue in the runoff for the governor's race quite honestly is who do you trust to actually do what they're telling you on the campaign trail? i have a record of doing that in the private sector for over 30 years and as currently as secretary of state. whereas my opponent will do and say anything for political power. that is the big choice today. no daylight between you and the president that's it, you're in lockstep, right? >> well, i'm trusting him to do what he, what he thinks is right for the country. i know he is trusting me with his endorsement.
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stuart: okay. >> not only to win tonight but to win in november and do the same thing for him. stuart: brian, terribly sorry. got to go. hard break. thanks for joining us. we reached out to casey cagle and stacy abrams. not heard back yet. more "varney" after this. i'm .. ..
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saving you up to 30%! so you can spend less time missing out... and more time paddling out! tripadvisor. visit tripadvisor.com or download the app! stuart: residents of high tax states, listen up. it is going to be very difficult for you to leave. residents of low tax states, sit back end quote. this is all about the new tax law, which will really hurt 1% in new jersey, california and new york. in particular those days. 10% of new jersey household will pay more in taxpayer 8% will pay more both in california and new york. forget tax cuts. and already high tax states given many people face a tax increase. you want now? good luck. high tax states are going to make it extremely difficult.
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for example, in new york if you move to low tax florida, you've got to prove that you didn't spend more than 183 days in new york. every day you must love where you work or don't track your phone, your receipts, bank records, credit card receipts. are you taking mail at your new place in florida? where do you vote? in florida? change a drivers license. you have to prove however difficult it may be that you have a new residence in florida and you're not coming back. by the way, keep all those records for years because the auditors can in well go back into tax returns. one tax expert and very unpleasant. why is this happening? high-tech states will move heaven and earth to keep 1%. crushing budget deficits and the
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last thing they can afford is a mass exodus of money. the crunch time will come next april when the residents of democrat run new jersey, new york, california and others find out how much it really costs to stay put. that is when the people of texas, nevada and other republican states can sit back end quote. just spare a thought for those of us who are trapped. the third hour of "varney & company" is about to begin. well, you heard what i had to say on the difficulty of getting out on high-tech states. scott martin, market watcher and professor. see you first. i was being an exodus of 1% hers from high-tech dates. if they make it so difficult to get out maybe there will be no
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exodus. >> when they have career choices will weigh this. but let's face it, finding another job, replacing a career because you're facing somewhat higher taxes is difficult to do. i have a young physician and my family. it's actually a step nephew and he was looking nowhere to go with himself and so forth and he decided that connecticut was the state where he hails from because he did not want to face connecticut's fiscal mess now that he was going to earn real money. he's a surgeon. i think we look at choices like that. >> scott martin, come on into this. as expected in a mass exodus. will we have a mass exodus? >> it is going to be tough. you made some good points. the main point is that if you haven't done it by now come you are screwed for this year, so forget that. here's the other thing that happens. illinois is the one that doesn't get the fanfare that we are not
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far behind over here and how bad things are for us. what has happened is other things with respect to careers, moving your kids, finding a good school, selling your house. i live in the city. they are talking about assessing their property taxes. nobody wants to buy a house in the city because they don't want to be had by that. a lot of constraints get put on because of the government that keeps things where they need to be. >> that's a good point. not so much the movie now. it is that people will not move into the states. let me address another point here. a pew research from the generation acts on people 40 to 50 years old. that generation has fully recovered from the housing crash. is that right? is that what they're saying? >> well, they seem to have got a better rebound in property values in terms of where they put themselves.
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that generation and the decisions made in the first decade of the century didn't reflect this notion of getting away from high-tech states come away from high property value states. they were the folks who brought an end when prices were high in places like new york and san francisco and so forth. guess what, those are still very desirable places to live at least until the tax law and those property values have rebounded much more than places like chicago or detroit where governments haven't been able to attract new employers. >> i want to talk about economic growth. friday morning 8:30 a.m. eastern time. second-quarter gdp will be an annualized growth rate. a lot of people expect and a 4% reading. you are the economists here. will they get 4% or maybe better for that quarter? >> my numbers for .2. train to that is huge. that's a very, very strong.
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>> we are coming off a two-point to first quarter. we tend to have weak first-quarter spirits of the economy overall clipping along at 3% this year an average of two quarters. the question is what happens in quarter three. that is the big question. to see the picture july retail sales look like. >> i'm quite content to look at the second quarter. >> you want to be happy for two or three months, be happy. stuart: go ahead, scott. what have you got? >> let's focus on the good news. for .4%. we've actually got a boost coming that's not quite accounted for in business spending and consumer spending which is very strong in the previous quarter. >> what do we get on the market is friday morning we get a 4% growth. but the market go up or not? >> i think it's baked in to be honest with you.
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not to be debbie downer, we do get stock prices here. it's not like it will drop it within a 4% number, but any fanfare and fireworks are the market as far as the numbers concern. >> for .2% for the second quarter. you don't think we'll meet back in the third quarter to be lower than not? >> i think it will be lower, and that that doesn't cause any alarm for the market. if we stay at today's level, the level right now, i don't think there will be a big dump on friday. the market goes down in a 4% growth number comes in and we'll take it back up to the level. >> treated something on trade in the market stayed up. >> i understand it. the trade that is running out of steam. as 50 billion in 200 billion the other day 500 billion. that is dead. that's all the stuff you can put tariffs on china. 100 billion will have to go and find somebody to put a tariff on there. you sort of run that one out.
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stuart: what you guys do because during the time of this interview with both you guys come in the dow industrials dropped 50 points. we are now up 150 instead of 200. >> thinks a lot. it's a buying opportunity. >> okay, we'll take that. thanks for joining us. we appreciate it. >> now come always talked about leaving high-tech states, but there are two states which are seeing big population increases. susan is going to tell us which states are moving in the people in just a moment. we'll talk to south carolina senator. he recently visited iowa and new hampshire. they are important to an early presidential run, are they not? i'm going to ask you, rescind the beginning 15 scott 2020? president trump to speak to veterans about kansas city, missouri and he'll be joined by va secretary robert wilkie. the live-action presidency is
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happening now on fox business. stay with us as the third hour of "varney & company" rolls on. you're about to see washington state. that would be seattle, washington state.
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stuart: just coming out as crossing the wire. the administration will announce $12 billion worth of aid for farmers to protect them from the fallout from tariffs. 12 billion to farmers. >> he's about to make a tour of the heartland. we will likely get a lot of questions about his trade policies. >> he's heading to illinois. stuart: i've got this for you. people moving to two states in particular in record numbers. moving in big population
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increases. which states? >> or may not surprise you because everything is bigger in texas. the population increasing 494,622. this increase from january 2017. second-biggest gainer, florida with 410,000 plus. >> you have the two states where most people are leaving? >> we should explain why they are in flexing to the states. there's a different different story in west virginia. people are leaving west virginia experienced a decline of 12,000 to the biggest loser among six states. illinois, and these are energy resource rich states. the coal miners in west virginia was of course an issue between the campaign. >> illinois face the pension
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crunch they can't pay. they are raising taxes. no jobs and people leave. that's what happens. >> they go to the jobs. stuart: teaming up with the iowa senator, joni ernst on the show earlier today. the two were creating an opportunity zone for low-income people. tim scott is with us. senator coming or cali, joni ernst tells me this is a plan that is ready to go into action. so often we have proposals which we are thinking about. but this one is set to go, right? >> absolutely, stuart. this is a way for us not to increase the bureaucracy in washington or have another government program. these are private-sector dollars to take a second look at the distressed communities and our nation and by doing so, bring the innovation and creativity from the private sector back into those communities and make substantial significant
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measurable change in reasonable time. we are really excited the tax reform package where there's opportunities supported by president trump, created by myself and others. this is a chance for us to say to the uneven recovery that we hear you, we see you and we are coming to bring some opportunities for the private sector to make a bigger difference. >> of private sector money moves into one of these opportunities sounds and invest in a business and profit, is that correct? >> that is a second part of it. the first part is if you make a long-term investment in one of the zones come you do for your burden for 10 years between five and seven years or the second aspect of it is as your dollars appreciating the zones commuted no capital gains tax if you put a minimum investment for us in
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those areas. it's a really good opportunity. >> i think it was in the senate. you virtually home free? >> the treasury department will create the guard rails for what is a vehicle looks like and i will give the investors marching to make their decisions on where and when to invest. stuart: mr. senator, you know what's coming. he recently visited iowa and new hampshire. are you thinking of making a presidential run? >> i'm not running for the president of my own homeowners association. i am however very interested in making sure that we have great conversations about the opioid crisis with governor sununu in new hampshire and a fantastic visit and have the chance to speak out the iowa state party. stuart: it is a pure coincidence you are visiting iowa and new
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hampshire. i can't read anything into that at all. >> you can, but mostly what you would read into it as i saw your grandkids on a previous show by the way. they did a great job. we are trying to make sure the economy and the future is so great that your grandkids, all three of them will have a chance to be the engines a future progress for this great nation and you have to go to places like iowa and new hampshire and west virginia next month as well. >> you only saw three of my grandchildren. >> how many do you have? stuart: i have nine. six children, nine grandchildren and three or more of my kids yet to be married and have children. >> they were smart. they did a good job on the show. i need to take some lessons. stuart: is a pleasure having you in the program. we'll see you again real soon.
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let's get into the stock market. a nice rally going. three dow stocks would read the rise and united tech in 3m reported good profits earlier today. all of those three stocks are higher across the board. via jen went out there inside look to the future. the profit is going to be pretty good enough as the stock 4% higher there. jetblue is another story hit by higher fuel costs and not stock is down 7%. they've lost money, sales were up and investors looked at that side of the ledger. ninety dollars a share. they're going to do something with pet medicine. the last time jeff flock on a plane, he barely got off of it. watch this. >> when i have to break away for a second.
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>> i say because we told them. are we on the air, lori? stuart: well come he's back at it again today. a big air show in wisconsin with the geico sky typing team as we speak. you want to see when he gets off the plane. that's a trait we have in store for you. you are going to see it. that's a promise. there you are. fox headquarters. sixth avenue in new york city on a not too nice day. it's a good shot. the new smart mbc doesn't take a day off, and neither will i.
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stuart: president trump are then ready roll back emissions standards. >> at the biggest regulatory rollback ever. it would basically freeze what obama wanted to do. freeze the miles per gallon industrywide at 35. stuart: obama wanted it to go to safety. 's >> 35 miles per gallon. he's also saying you know what,
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we want to get back on the take back obama era waiver that led the california regulate on it own air pollution. and he is saying you know what, we are going to rescind the waiver that lets california set its own rules and revert back to 70s era federal law that says the government sets the standards. that basically like california start all sorts of electric car sales quotas and the state of california. stuart: there will be a big fight on that one. >> 16 states in california could go to that. stuart: 35 miles per gallon. that's a big move. thank you. the skyscraper turn the tap on for 354 that went on the side of the building into a public plaza. there you have it. there's some criticism here from people who don't like the cost. the cost is $118 per hour. that's it.
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i guess that's a great deal of money. the people don't like it and that's criticism. it is beautiful. two nights mega millions jackpot fifth largest in jackpot history. the cash payout for a single winner will be about $303 million. 11:00 eastern. what's your odds of winning? one in 300 million. to use, got it? president trump taking a hard line to iran's president. up next them were joined by our expert, david rubin. i want to know, would he be okay with the remote possibility that president trump needs with the mullahs? chuck them into the mix. of course we are watching our money. the rally not too bad for a tuesday pigment summer of 186. now look at the new york city
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skyline. just not
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♪ ♪ our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest. stuart: check the big word almost back to a 200-point gain
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and 26 of the dow 30 and the grain. they are up 25,240 is where we are. shortly, president trump makes her mark at a veterans of foreign wars national convention in kansas city. you will see it right here. not to my take on the top of the hour, my editorial has no escape for people in high tax states. they're going to be hit very hard by the tax reform we just passed. they cannot move. it's very hard to move out. we've got some comment from betsy mccoy, former new york lieutenant governor. author of the vote, beating obamacare. >> there are nine states with zero state income tax. it not so hard to move to one of them. that establishing the true domicile has moved, that legally you are no longer residing in
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tact so many connecticut, new york or new jersey, illinois, california. that is not so easy. start with the basics. you have to have a florida drivers license, florida voter registration, but that is just the beginning. here's the tough part. those auditors will comment and say, where are your primary physicians? where do you keep your family and her limbs and then they will say, prove to a prove to us that you have not spent any moment of 183 days in new york, for example for connecticut and to prove that their literature easy path and all your credit card statements and that's just for starters. if you're flying to europe then you have to europe in a happening town to jfk to change planes and then go to europe, you've put your foot in new york and you are paying taxes. >> that means living in new york or >> in a second of the day spent in new york counts as a full day in new york. it is very, very tough to prove
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you are officially moving your domicile to one of those tax-free states. >> they are going to come after you. >> special auditors who just look at those. all kinds of what they call teddy bear rules and they say where do you keep your favorite objects? or for example, which has more market value. the home you have in florida or wyoming or texas for the home you have been tactile. you're in trouble. >> you mean you've got to sell the house? >> or buy a more expensive one in another state. stuart: got a buy a more expensive one. >> are difficult to prove. any day you don't have something on your credit card and a tax-free state, the assumption is you were in new york. the burden of truth is to prove you are not here. >> and they lay down those rules and stand up in court so a judge
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would say wait a minute, you stop for one hour. >> and they would uphold it? >> tiara stick to those rules. it's almost impossible to prove unless you have truly done it. stuart: i smell trouble because come april 15th of next year, all kinds of people who make good money in new jersey, new york, connecticut, illinois, california in a couple of other states will be hit hard with a bill. >> the big money is the tax accountants and tax lawyers who are helping them try to get moves. stuart: a tax accountants are going to save you, wait a minute, it's extremely difficult. >> it's extremely difficult. the burden of proof is on you.
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stuart: i was expecting a mass exodus of people. >> it's going to take a lot of time. you will see more leaving than we've seen so far. after all, most of the tax payers haven't endured the actual pain of writing that check it out. it's an unforgettable your hands. last night stuart: i think it works the other way around as opposed to a mass exodus. you'll see people who are not prepared to move. >> it's definitely depressing real estate values. no question about that. it's very hard to solve one of these mega-mansions because the property taxes are no longer deductible above a cap. stuart: your high paid individual in florida. your high income person and you did a great job in new york city. should you move?
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you've moved from low tax, no tax florida to super high tax. >> you have to calculate the after-tax benefits. >> a few minutes ago he had a nephew who decided not to become a surgeon in connecticut because the after-tax value would be so much lower and many people will be making my calculation. stuart: as of april 15th they most certainly will. i can't wait to see how this turns out. thank you very much indeed your depreciated. let's get to president trump taking a very hard line with the iranians. remember the all caps tweet. don't never threatened america. joining us now, david rubin, expert. let me raise what might be a red herring right from the start. how would you feel about the remote possibility of a president trump meeting with the mullahs?
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>> i've no problem with that comes to her. i have no problem with the president meeting with anybody. but i don't think you're going to have president trump meeting with the ayatollah khomeini and holding hands and patting them on the back or having any niceties with them. i don't think we will see that. this is a different breed than kim and brittany then. >> the president has taken a very hard line. don't fret, don't do that again or else. you think that hard-line works? in my opinion it does because the iranians have a terrible economy and the facing revolt from their own people. i think the trump hard-line will work. but what say you? >> you have to remember president trump comes from the outer boroughs of new york city. comes from queens. i don't know if you notice, the 26 years ago i moved to israel. i grew up in the streets of brooklyn and i know from the
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brooklyn schoolyard that if somebody threatens you, you better threaten them back and threaten them three times as bad. this is what we call brooklyn schoolyard psychology. that is when trump knows how to use brilliantly and he's been with ken at work, soften him up. they are installing nuclear installations. the ayatollah will be a little bit harder. i think it's important to show him who's the boss, to show him we are stronger than they are. that the united states is stronger than anyone in that he better be careful when you better watch out. stuart: do you think there's a possibility here that the mullahs will be overthrown by their own people? is that possible? >> it's more than possible. it is happening gradually. just looking back about six
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months there were serious revolts in several cities of iran and then there was a big crackdown. but then it started to pick up again. recently there have been protests in quite a few iranians cities. there's a media shutdown, so so you're not. not much about it. it is happening and it's been quietly encouraged through the media, through social media in some world leaders such as president trump and prime minister benjamin that yahoo! involved in that. it's mostly coming from people and we have to remember the iranian people have been suffering under this extreme radical muslim regime that is only talking about jihads. they are not talking about putting food on the table. they're not talking about giving the children education. they are not talking about fixing broken roads in the street. they're talking only about holy
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war against what they called the infidels. that is what the ayatollah khomeini, the founder of the islamic revolution always spoke about exporting the islamic revolution. they are still doing it today. people may not go for that. >> that's very interesting. thank you for joining us. mr. rubin, you can come on anytime you like. >> social media pointed out accelerating what's going on in iran. makes a big difference. >> you didn't have social media in 2009. got it today. the price of oil this morning as of right now i should say a $68 per barrel than the price of gasoline coming down a little. just a fraction may be. $2.84, the national average on regulator. the price of gold is around $1200 per ounce mark. right now at 12, wait for it.
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there you go. 12.35 years old per ounce. earlier this morning, back up above 8000 blacks. 8199. we are waiting for the arrival of president trump in kansas city. that is the arrival seen so to speak. you will see it happen. flights to the popular mexican resorts down. susan leigh will have the story for us. here's a story we are watching getting ready to rollout restaurant hygiene scores nationwide. that story is 90 seconds. first though, phoenix. that is a heat wave and a half. ♪
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>> i'm nicole petallides with their fox business brief. you're heading to a restaurant that she wants to know what sometimes still use users runs, photos, berating random reviews, but she won another real deal. how clean is the restaurant. down half of a percent. yelp is working with the city to get you that letter grade and find out the real deal. started back in 2013 and now they'll be printing it out.
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over 200,000 businesses. and you can know how claim, how sanitary the restaurant is from front to back. millennial's ready to get on there and find out. the lower scores haven't done as well.
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>> passenger traffic on airlines from america to mexico is down. >> leave it or not, yes it celebrities hangout in kabul and the like. to .9% delta capacity has has fallen 1.3% as well and there is a travel advisory and safety is a concern. numerous cases, 170 travelers since july 27 teen who have been injured, killed or fallen sick. the state department issuing a travel advisory as well on monday to say be careful and take extra precaution. >> that the mexican pr nightmare. >> and the devaluation. >> democrats in that state want to maintain the sanctuary state status. republicans, the other side of the coin cooperate with
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president trump. they don't want sanctuary state status. larry alder here with the talkshow host. he was waiting if there is a split, who is winning? >> do the math. in california, democrats outnumbered three to one. and until just a few weeks ago, they not only had majority in the senate and the assembly, the super majorities said they could pass any tax hike without republican but whatsoever. one of the lawmakers got recalled, but there still isn't a single republican elect statewide in the state. sanctuary laws are popular. eric holder's law firm to represent them. san francisco just allowed illegal aliens now for school boards. democrats are winning on this issue. republicans are losing. >> on the democrats, there's three times as many as republicans. all of them in lockstep going
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along with yes it's a sanctuary state and we'll keep it that way. >> i haven't heard a single major democrat to stand on that point view including diane finds time who is deemed to be too moderate for the state party did not endorse her. that is how radical it is. in favor of opposing sanctuary laws, i have not heard it. i haven't seen or heard a single prominent democrat opposed the state laws no imposed. >> this has something to do with ethnicity because hispanic people in california now outnumber white people. so there's my question. >> it certainly is an understanding that the voters are supportive of sanctuary state laws and a higher percentage of voters are in favor of those laws. there isn't a single majority. the percentage of white and hispanic now is almost equal and they are growing faster.
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you're going to pull the lever for supporting sanctuary state laws. >> i would offer you the opportunity to move to the white house in a jersey, but i don't think you want to do that. you don't want to jump from the frying pan into the fire, do you? >> and i don't do windows. that's not going to work. but seriously, if you live in california as long as i have and you have about 30 years ago, you're in great shape because you're housing values have appreciated. if the people, after who are getting shafted. those are the people who have opportunity tonight and a lot of californians are leaving to seek better opportunities. you're probably in good financial shape. >> thank you very much indeed. stay where you are. can it take you back now to wisconsin where the country's largest airshows on the way. jeff flock just got off the
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flight. i think he is mike. how are you feeling after this one? >> they handed me a microphone. hold on here. cheese and crackers. >> take it off, will you? they still got you. >> i feel a lot better this time. larry gave me -- >> two pictures from us in the air? what they do is they fly. can i get out of here by the way? there we go. what they do is they fly in close formation. they are all experienced aviators used it up in the military are very comfortable find three feet from each other. >> they are the busiest airport in the world.
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>> this is aviation mecca, everybody from all over the country comes to enjoy this week. >> as you watch that one, because of the booming economy you told me there are more people than they had the best in history in the most people showed up at this airshow on a monday. into the week. >> this is just really surrounded by aircraft. wasn't that great? >> i'm sorry, i've got to go. that is the first time i've ever heard of and airshow been an economic indicator. president trump is about to arrive in kansas city. in the next hour, he'll be getting a big speech to veterans. you'll see it right here on fox
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business. we'll have more for you after this. the dow is up 200. ♪ whoooo. you rely on tripadvisor so you don't miss out on the perfect hotel... but did you know you can also use tripadvisor so you don't miss out on the best price? tripadvisor searches over 200 booking sites to find the hotel you want
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>> air force one has landed in kansas city. aboard the plane we are getting some headlines from the president. number one, trump expects russia to be pushing very hard for the democrats in the next election. also this, mr. trump says he is very concerned that russia will be fighting very hard to have an impact on the upcoming election. he just arrived in kansas city. he will make his speech there to the veterans of foreign wars. i want to bring in our next guest from a retired army colonel who served in nato for a number of years and he was the lead planner of the 2003 invasion of iraq through turkey. colonel douglas master gunner was with us. let's get straight at it. president trump just about torn up all of our previous foreign policy ideas. he's completely reverse them. do you approve?
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>> i'm a big supporter of president trump, that nato has been a very effective military alliance. it is created peace and stability unparalleled in europe thanks to the american leadership. is it a perfect? no. they need to spend more, but it's been verified. >> the president hasn't broken up nato. he's gone to spend more. >> it's about time when it took over a further 29 nations are setting their pledge 2%. up to about eight now. i do have a problem. the richest companies like germany and france and others are writing this american security wave, becoming prosperous and strong with that in honor of defense. president i agree with him in forcing the allies and calling them out to spend more and do more. i am concerned about the question about american resolve in regard to article v. article v is most important aspect of the nato alliance.
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when president trump with this interview with tucker carlson last week discussed whether the united states should or should not come to the aid in defense of montenegro, the raised a lot of eyebrows in europe. >> what about the question of the pipeline. the germans want to get their energy in russia and build a pipeline to supply it. president trump says don't do that because you're just feeding billions of dollars to the people who are your enemies. do you approve of that push to get rid of that pipeline and allow america to supply energy to europe. >> diverse pipeline was cut in the 80s when ronald reagan warned the literature me that this would make germany beholden week in moscow. didn't happen then, but it's happening now. they will rely on russian oil and gas and therefore take a great risk in opposing the
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policies. they could turn off the pipelines and the german economy brought to their knees. they were 100% wind up on russian oil and gas. they want to buy from pennsylvania and the united states. germany should be doing the same. the endeavors undermine america. stuart: let me refer to the left-hand side of your screen. air force one landed in kansas city. the president of course is aboard. he will come down the steps. shortly thereafter he make as speech to the vfw, the veterans of foreign wars. liz: kansas city america. he follows the socialist tour from bernie sanders and alexandria ocasio-cortez. he is expected to this afternoon
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to announce $12 billion in help for farmers as retaliatory tariffs are hitting farmers in very important states that the president needs iowa, wisconsin and the like. that could be coming this afternoon. stuart: today the president speaks in kansas. i'm sure i can call that a farm state if i'm in the mistaken. tomorrow he speaks in iowa. i'm pretty sure that is a farm state. >> right. stuart: right before he gets to the two venues. $12 billion for farmers. >> dairy farmers are being hurt by tariff disputes with canada, and china. soybeans, big declines when it comes to orders from one of the largest soybean importers in the world. stuart: president comes down, it is not a gangway? what is it? liz: there is the president. stuart: coming down the stairs. leave it at that one.
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market is up 213 points. i'm out of time. sorry, everyone, neil cavuto. it is yours, sir. neil: thank you very much, stuart. the president arrived as you are indicating where he address as large group of farmers. concerned about impact of approaching trade war. to hear some tell it is already on. 12 billion, but could go up to 18 billion of support to ward off effect of tariffs. so concern that money might not be enough to cover everything. but president indicating in the long run everything will be okay and these tariffs, despite pain in that neck of the woods is the greatest. welcome, everyone, i'm neil cavuto. this is "coast to coast." my thanks for charles payne for

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