he's a bit anxious, but i'm going to take him on such a nice, long walk. a nice excuse to pamper, there he is, blueberry. he's a bit scruffy there. [laughter] maria: what a cutie pavement. i think i'm going to give dusty a couple of no-raw hide sticks today, because that's her favorite stick. she loves those sticks. it's national, you know, love your with pet day, so i've got to do something, and maybe i'll take her for a walk on the beach. there she is with the sunset coming down. how about you, mike lee? you don't have a dog, do you? >> no, no pets, just three kids. [laughter] we we had, we had some, we had some fish, but you know what happenses with little kids and fish. a. [laughter] maria: a big hello to your beautiful family there, mike. thank you for joining us this morning. have a great day, everybody. we'll see you again tomorrow to. stay right here for fox business, "varney & company" picks it up. stuart: good morning everyone. two big retailers just reporting

their financial results. this is a close look at consumer spending and, therefore, a clue to the future of the economy. walmart, strong report, beat profit forecasts, raises the dividend and looking to the future walmart sees strong sales growth. investors just love that one. home depot says its sales growth in the future will discuss appoint. down goes the stock. that's off about, let's see, 2 down for home depot, 4% up for walmart. both are dow stocks, so there's some impact on the dow industrials which are going to be down over 100 points at the opening bell. the nasdaq the on the downside as well, 76 points lower at the opening el -- bell. we have the yield on the 10-year treasury well above 4.25%. the yield on the 2-year treasury way above 4.5%, 4.58%, to be precise. bitcoin, $52,800 this morning. oil, roughly $78, 79 a barrel. 79.20 right now p. regular gas,

average is $3.27. no change. dos el, $4.09 -- diesel, 4.09. first day after a long weekend for the markets. politic es. donald trump says he will raise the $450 million he needs for his bond after a new york court found against him. he has 30 days to get the cash. he owes trump -- owns trump tower and several other marquee properties. e has not said if he needs to sell any of them. nikki haley delivers a state of the race speech at noon today. the south carolina primary is on saturday. trump the has a 30-point lead in the polls. the president heads to california. he's raising campaign cash. it's the the only eventen on his schedule today. meanwhile, the publish at "the new york times" says the white house is, quote, extremely upset about the times' coverage of president biden's age. a.g. salzburger ooh says the times will continue to report fully and fairly not just on donald trumping but also on president biden. on the show today, michigan is

now asking for volunteers to take migrants into their homes. you have to commit to keep them in your with house for 90 days, and you must pick them up at the airport. new york city's mayor adams proif poses $10,000 debit cards for migrants now crowding the city, and the genius of elon musk. another breakthrough, his neuralink company planted a computer chip in a human brain last month. musk says the patient can move a computer mouse just by thinking. tuesday, february the 20th, 2024, "varney & company" is about to begin. ♪ ♪ ain't no other man can stand up next to you ♪ stuart: well, tuesday morning, a lot of traffic now on sixth avenue. what's going on here? lauren return shocking.

stuart: it's freezing cold. good lord. okay, everyone, let's start with a hook at the two big retailers which reported. first off, lauren are, take us through walmart numbers. lauren: i mean, this is the best retail orer. inflation is cooling. shoppers are coming in more but spending less because prices are starting to stabilize. revenue over $173 billion in one quarter with. same-store sales rising 4. online sales up 23%. they got some big announcements -- stuart: you really like them, don't you? lauren: i think doug mcmillan is a fantastic ceo, and he's taking market share from every supermarket and from targetful these are the announcements. they're buying vizio, the tv people, for $2.3 billion. not to sell more tvs, to buy the advertisement universe. they also raised their dividend by over 9%, and the stock splits 3 for 1 this friday. stuart: wonderful. it's up 4.6% right now. lauren: yeah. stuart: now take me to home

depot. lauren: the moral of the story you might redo your kitchen cabinets, you're not redoing your entire kitchen. both the number of transactions and the amount of dollars on those transactions declined. going forward, soft report, soft forecast. home depot sees foul-year -- full-year same-store sales falling. stuart: heather zumarraga with us this morning. in fact, you're going to stay for the entire hour, aren't you in. >> yes, sir. stuart: okay. what do the walmart and home depot earnings tell us about the economy and consumers in. >> right. well, it's a mixed bag right now. walmart's earnings were, obviously, great. the world's largest retailer, the online sales were stellar. ceo doug mcmillan saying going into holiday shopping season they had thest volume. home depot also had very high sales going into q4, the end of q4, but that's backward-looking. we have new reports saying that consumer credit card debt is at all-time highs, and so i think

that's worrisome. yes, we're looking back at earnings and companies are able to remain profitable despite a soft orer landing, a slower -- softer landing, a slower growth economic outlook but, you know what? i want to see q1 earnings. are they able to keep it up. walmart, yes, even if we have a recession because they are a store that offers such december count cans like a costco -- discounts like a costco and a target, they should still do okay, but these earnings are really good. stuart: okay. walmart is. >> walmart, not home depot, right. stuart: not so much. thanks, heather. stay there, please. we're going to switch gears to get to politics this tuesday morning. a top pollster sounding the alarm on biden's re-election bid. what is he saying? lauren: you know him from 538. he titled his newsletter, it's time for the white house to put up or shut up, meaning put up joe biden. make him available for a serious interview or replace him at the convention in august. this is the quote. biden can still win, or but he's

losing now, and there's no plan to fix the problems. other than hoping that the polls are wrong or that voters look at the race differently when they have more time to focus on it. biden is probably a below replacement level candidate at this point because americans have a lot of extremely rational concerns about the prospect of a commander in chief who would be 86 by tend of his second term. it is entirely reasonable to see this as a disqualifying. and then he makes suggestions for the white house. do four interviews. give cbs one on "60 minutes" because you didn't give them the super bowl interview. and then sit down with a newspapers. do you know, i was shocked, president biden has not done a major newspaper interview since he's been in office. not with the new york times, not with the washington post -- stuart: and not with the with "wall street journal." gotta fix that somehow or another. the publish of "the new york times," a. a g. salz bearering, says the white house is, quote,

extremely upset by the patient 's coverage of biden's age. -- paper's coverage. it seems like all the white house is doing is complain if about the coverage that they get, but they're e not doing anything to address the problem. they don't seem to have a plan, do they? >> their enemy is really concern reality. the only thing they can do is shape perception, shape misinformation, shape eachover our minds and perception into thinking he's anything other than a punchdrunk fighter or staggering around the ring. i really liked in that report you just had nate silver's use of the term below replace-level -- replacement-level candidate. that's a sports-centric term, stuarts, and it's a way of measuring players, maybe baseball players, for example, beyond batting average and home runsings. you can make a statistical wins above replacement category where you take an average player and say how much better is this the individual from the average player or how much worse is he than the average player. there is no doubt that joe biden is a below average a, a below

replacement level candidate from almost, almost anyone else going up against donald trump. of course, as has always been the case, the most obvious replacement candidate, the one sitting on the bench, is also way below replacement in kamala harris. so what they have to do is if you have a punchdrunk fighter stag staggering around the ring, never let him get into a fight. go to the podium, the press conferences, put out some flashy photo, hold up the belt and continue to shape perception that you're presidential, but never let your candidate take a punch. no interviews with newspapers, no interviews with tv, no debate. and joe biden is hoping to pull off that trick again of alternate reality to, again, become president. stuart: just don't think he can do it again. i just don't think so because, you know, who believes that you can be the commander in chief of the united states' armed forces when you're 86 years old in nobody believes that.

>> yeah. stuart: are republicans are reportedly considering having former president trump give the response to biden's state of the union message. do you think that's a good idea? >> no, i don't see it. you know, or president trump has been pretty strategic about risk versus reward and in retrospect, cleary, he was right -- clearly, he was right on declining to do debates with the field of candidates running for the republican candidate for president. it didn't is have any big reward for him. what's the upside? and the downside is you reduce yourself at least on that stage to the level of everyone else trying to run for president. so he was right, no reason for debate there's no reason for for him to give a response, not in the traditional manner after the state of the union which usuallyly fall flat, they're dead, they have no crowd, they have no body of congress before them. i guess he could put together a rally, but that's probably not the way it's done normally when it comes to the, to the state of the union response. so, no, i don't see the necessity for him to do that, nor do i see the upside versus

the downside. stuart: he's doing a town hall though, 7:00 eastern time tonight on the ingram angle on fox news. that's his way of getting his message out, isn't it? he does campaign rallies, he does town halls, and that's the way he puts out the stuff that he wants to talk about. >> yeah. stuart: i think it's a big audience for him. he's doing well with with this. >> almost every time. you know who else gets a big audience? stuart varney. and that audience is not going to go anywhere today, because i can't stop thinking about your top at the top of -- tease at the top of the hour elon musk putting a brain chip in. we can now move a mouse with our mind, not the kind that ine fest your house, but the oned attach thed to your computer. that's all i can think about, stuart. all of a sudden we all have telekey knee cease as long as there's a battery? i'm not going anywhere until 12 eastern, by the way, when "the will cain show "starts on foxnews.com. stuart: we shall watch that. of i'm going to pontificate

about elon musk the top of this coming hour, 10:00. will with, your all right. we'll see you later. check futures, please. it's tuesday morning, first day back for the market after a 3-day weekend. dow down about 10 to -- 100, nasdaq down about a 74. coming up, michigan congresswoman debbie dingell has had enough of everyone talking about biden's age. roll tape. >> there's nobody better than joe biden. hi the campaign needs to -- i think the campaign needs to let him get out there and be who he is, and i am sick and tired the of everybody talking about his age. stuart: can bide bide really handle another five years in the oval office? the deadline for government funding, mar 15st. -- march 1st: do republicans have the leverage to get money percent border? i'll can florida congressman byron donalds right after this. ♪ ♪ have i got a deal for you. ♪ a heart that's almost like

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stuart: check futures on a fuse morning. dow down 100, nasdaq down 66. still no deal from congress on the border and foreign aid. ooh aishah hasnie if joins us from capitol hill. what's the latest? if are we with any closer to a deal? >> reporter: hey, stuart. well, we are not closer to a deal,ing and that's because congress is actually out of session for the rest of the week, but they cannot escape this ukraine issue. they are facing some intense pressure overseas at the munich security conference but also from kyiv it. some lawmakers are overseas in ukraine including congressman brian fitzpatrick.

take a look at this. just met with president zelenskyy i believe yesterday. he and a bipartisan group of lawmakers introduced a slimmed-down alternative, stuart, to the senate aid package that we saw last week. now, this version bring with back border provisions like remain in mexico while also a sending $66 billion in defense-only aid to israel and and ukraine and taiwan. it's only about 30 pages long, so it's pretty short which some lawmakers belief will actually make it more immune to criticism, and supporters of this bill say it is time to act. >> look, especially with the murder of alexei navalny, i think everyone is recognizing that we need to act. and so, you know, i've been in touch with many of my colleagues on both sides of the aisle in recent days, ask and people want to address the challenge of aid

and especially for israel and ukraine. >> reporter: now, congressman lawler also thinks if members are forced to vote i have e ya suspension in the house, it would have enough votes toss pass, but we just spoke with senator kaine over in the senate moments ago, and he was not sure that would get any vote in the senate especially because there's no humanitarian aid to gaza. homeland security chair mark green as well as some moderate democrats are working on their own border plans, own border provisions, but again, everyone is waiting to see what house speaker mike johnson does when they all return next week. institute? stuart: aishah, thank you very much, indeed. florida congressman byron donalds returns to the show now, and it's great to have you back, byron. >> good to be back with you. stuart: your march 1st deadline to fund the government, can you get money for the border and money for ukraine as well? can youfy both? -- satisfy both? >> no, i don't think so. and the number one reason why is, first, money's not the issue

at the southern border, it's purely policy. number two, joe biden will not reverse course on his policy which tells house republicans that there's no money for joe biden and the things that he wants to do. look, stuart, the number one job of the federal government is to secure the border, to secure or this nation and to secure the american people. that is the first job. and if you're derelict in the first job, why would i give with you money for any other jobs? if that's a simple, a simple premise that applies to all of life. it definitely applies to life on capitol hill. stuart: then are you prepared to see russia win in ukraine? >> i would actually tell you that joe biden's prepared to see russia win in ukraine. because this could have been involve solved months ago. house republicans have been very clear. we just want to secure our nation. that's a simple thing to do. refuses, stu, but then he come to us and says look at what's happening in ukraine. most of our country is saying what about us? so if joe biden's going to be the president of the united states, not just a president of

liberal america and radical america, he would have done his job months ago. don't blame us for wanting to be focused on our country and then want to be helpful to people around the globe. but you've got to take care of business at home first before you do anything else. stuart: congressman, the judge presiding over trump's new york fraud case ruled he as to pay $355 million plus nearly $100 until interest. what do you make of that ruling, congressman? >> listen, it's total b.s., this ruling is terrible. it has a chilling effect on business and investment in new york. you know how men like kevin o'leary, grant corps done, they're out there saying, look, i don't want to look at new york anymore, it's a loser state. and that's because the rule of law has to be blind to everybody. you just can't pick and choose who you want to target. it's something called a bill of attainder that is exdressly forbidden in the -- expressly forbidden in the constitution, but in new york it seems to be a a-okay.

and for kathy hochul to to say no need to worry, it's just about trump and nobody else, that's a flat out lie. once you set the precedent, it will be available to other people. people are not going to invest billions and billions of dollars into new york if you have something like this in the air in that state. so i tell new yorkers, come to florida, we'll take care of you and treat you better. stuart: there's another 1200 on the way today, senator, from what i hear. do you think that all the legal maneuvering against trump including this ruling in new york city, do you think it's turning the tide? are we at a pivotal point with where the vast majority of people in america see that this is unfair and is the politicization of the judicial system? are we there yet? >> oh, yeah, i definitely believe we're there. i think we've been there for quite some time now. look, you can have your opinions of president trump. contrary to those presidential scholars who, frankly, don't know what they're talking about, he's been one of the great presidents this country's ever seen. you can have your feelings, but

in the court of law your feelings aren't allowed to go into the courtroom. that is the thing that protects all americans, i don't care about your politics, i don't care about yourly bigs. the courtroom is -- your religion. the courtroom is supposed to protect us all, and and we live by the law and nothing else. but when you have stuff like this, it's going to completely backfire against the democrats. donald trump is only becoming more popular, but it's also aal to these radical states and these radical cities that people just aren't going to deal with you. it's not like everything is beautiful and it's all roses up there. stuart: you got that right. congressman byron donalds, thanks for coming back on the see. hope to see you again soon -- back on the show. a $200,000 check joe biden reffed from his brother in 2018, that's coming under a lot of scrutiny. what's the problem? if. lauren: the check was labeled loan repayment, but what was it for? what was the loan? and the tiling is pretty fishy. it came at the exact same time

that james biden goes if sited a check for his work at americorps, the company that operated rural hospitals. jim knew nothing about running hospitals, but joe knew a lot about a health care. he had been vice president to president obama, obamacare. we might know a little bit more about all this tomorrow. jim is being interviewed by house republicans in private as a part of the biden impeachment inquiry. stuart: it's just not going away, is it? it'll be with him for a long time. with he can futures, please, we're about to open the market. dow down 100, nasdaq down 75. the opening bell is next. ♪ just keep those windows down, gonna get lost on the edge of town. ♪ she said, give me a -- of brooks and dunn. ♪ if you want a country girl, you just found one. ♪ let's slip away ♪ finish finish

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good earnings season. a lot of companies guiding higher, stock prices are up. you want to have something weaker, stuart, you can buy at lower prices. cisco, you now have a 3.5% dividend yield. they grew it again last week, and they're converting to more of a software recurring subscription business. it's great for the future of cisco's stock. it's going to take a while, but we love where cisco is. stuart: 3.5%, david, i know it's growing year by year, butt -- but it doesn't turn me on. you used to bring us stocks with a dividend payment of 5, even 6%. >> stuart it's so hard, because i try to explain this over and over to you, i know you love microsoft with their 0.003% dividend, but cisco's dividend or what we pay for the stock is about 10%. that's the way we want dividend growers to think about this. the dividend getting divided by what you pay for the stock. they grow the dividend every year.

that's what matters. stuart: the next one is truest financial. what does that pay? >> 5.6%, no so now all of a sudden -- now all of a sudden you're excited again. truest is a major u.s. bank. it's a combination of the old pb and t and suntrust bank. it's a major-sized bank that has really come off its lows quite a bit. they just closed today the sale of their insurance business for $15 billion. they're well capitalized, they're paying 5.7%. we're about to have a little fight with them. we don't like some of the woke stuff we're doing. i'm putting a proposal together for the next shareholder meeting to get them to stop acting a little funny with conservatives and christians. but, see, that's what we want to do, take them on, improve the stock. stuart: okay. you turned me on to truist, i shall consider it. thanks very much, bahnsen. 9:30 eastern time, and the market has a just opened. on the downside, no doubt. the tow is off, what, 70, 80

points in the very early going. if you look at the dow 30, about a third up, two-thirds down roughly speaking. there's some red ink for the dow this morning. the the s&p 500 opening this tuesday also on the downside, 19 points. that's just over a third of 1%. nasdaq composite also down today. we're at, down 92 points, that's better than a half percent lower, 15,682. show me big tech, please. this is what we do every single day the market is open, we show you big tech because that's where the money is. alphabet, 140. meta, 471 is. that's had quite a run recently. and and amazon at 167. two of the largest credit card companies in america are combining. tell me about the capital one's deal to acquire discover. lauren: capital one has a lot of subprime borrowerrers. discover has a lot of prime borrowers. so together it's good news for capital one. they can challenge visa and

mastercard, the big players here. they've agreed to a $345 billion all-stock deal -- $35 billion. discover shares are at an all-time high, up 11%. but the issue is they have to get this deal approved by lina khan's ftc and also the consumer financial protection bureau. stuart: lina khan believes big is bad. lauren: there is a strategy here. discover had a new ceo with, they had a regulatory review of some of their incorrect capital -- and warren buffett has a big investment, they can come in and say where are the white knights -- stuart: it will create the largest credit card company in america. lauren: no. i don't think that's -- >> well, i still think, look, mastercard, visa, am-ex, they need to be able to compete with those giants. they can't. so when you put them together -- right, it's not a monopoly. it's going to make them even more competitive in the marketplace and create some sort of -- stuart: tell that to lina khan

who believes big is bad. >> doj or treasure arely want to step in and get involved, i think it's -- stuart: all right, good stuff. let's look at a nvidia because it has just dethroned tesla la as what, lauren? lauren: the world's most traded stock. $30 billion of nvidia changes hands daily, that compares to $22 billion for tesla. stuart: wait, wait, how many billion for -- lauren: 30 versus 22. stuart: okay. lauren: so nvidia reports tomorrow, and they're expected to say we grew our sales by, i'm not joking, 237%. all-time high. 20 billion plus in sales. but what if they just get 235%? and it's such an actively traded stock, a lot of regular investors might be vulnerable to a great report card that might just miss by a little bit. stuart: wait til the algorithms get hold of a slight miss on the expectations. lauren: yes, exactly. stuart: watch out, world.

i do know why intel is rallying. it's up 3.4%. lauren: wow. stuart: you're going to tell us why. lauren: there's a report the white house is in talks to give it $10 billion in subsidies. that would be the most significant award yet under the 2022 chips act which incentivizes u.s. firms to make more chips, more research and development. so far $230 billion has been doled out. intel, as you know, they're building up their first production site in decades in ohio. they have other plants, new mexico, arizona. and this award, by the way, would reportedly include both loans and direct grants from government. stuart: i hear they're having some problems building these new factories. all right. carl carl icahn, i know he's got two seats on the board of jetblue. are investors happy? i guess they are. lauren: stock's up. he hasn't said what changes he'd like to make to the airline which has not turned a profit since covid. these two members are going to start as a non-voting members and then maybe make some

recommendations. the new ceo e of jetblue says she's open to aggressive action, right, to get back to profitability and boost the share price. jetblue has lost more than half of its value in the past two years. the fact that icahn can still do this, and i was moments ago talking about warren buffett. icahn's 88. warren buffett, i don't know his exact age off the top of my head. i would just like to point out thats it is just a number for some people. stuart: it is for some -- i think warren buffett is well over 90. lauren: it's 93, they just is told me in my ear. stuart: i know the medical device maker med terror thetic reported before the bell. i guess not so good? lauren: they raised their full-year forecast for the third time. they cited strong demand for their hearse and diabetes devices -- heart and diabetes devices. stuart: heather, i want to talk about the magnificent seven. they seem to me to be the main reason why we've seen a recent market rally. do you think the market has to broaden out a bit to include second and third tier stocks

soon? >> this year, i think so. obviously, or last year that wasn't the case, and the mag if seven carried the entire with market higher. but, yeah, there are 493 over stocks in the s&p 500 that everybody forgets ab.. -- about. all eyes are on nvidia's earnings, like lauren pointed out. it might be enough even if it's not a big beat to satisfy consumers. investor s, is what i meant to say. and p look, i think the market has to broaden out. you can only expect so much from this group. their profits are bigger than most countries right now, what they bring in. [laughter] that's insane. stuart: crazy stuff. they're the only ones making significant profit gains. they're the only ones coming and saying apple's going to go double digit in next quarter. they're the only ones saying that. >> yeah, i hear you. but would it be prudent if you're an investor to kind of take some profits? i know you have microsoft -- stuart: i do. >> i'm not saying you sell your entire position or but you move into other areas, higher cap --

sorry, or higher large cap-quality names that have not participated in the rally thus far, maybe the industrials, maybe you look at consumer discretionary if so that if we do get a pullback in the markets or if we have not a recession, but, yes, or the it's a soft landing, no landing, whatever you want to call it, the it's a slowerrer growth environment, wouldn't it be prudent to take some risk off the table and real lower candidate across the other sectors? stuart: that's not my experience. i don't want to pay the capital gains tax. i have to pay if it. >> true. stuart: significant capital gains. kwr07 to be paying -- >> so you're going to hold on to your microsoft regardless -- stuart: probably because the day i die because i can borrower against it securely -- >> right. stuart: -- and and it's easy going. >> well, it's worked very well for most people, and even the market, the rally we've had thus far this year, if we can with call it that, i know the market's down today, but nvidia's still leading us higher. lauren: 50%. stuart: all true.

heather -- lauren: for the record, you are correct, discover, capital one, the largest credit card company by loan volume. stuart: all right. lauren: just for the record, you're right. stuart: thanks, heather. kevin o'leary issued a warning for new york business owners. watch this. roll it. >> it doesn't matter what the governor says. new york was already a loser state. i would never invest in new york now, and i'm not the only person saying that. stuart: all right. does the wolf of wall street -- that would be jordan belfort -- does he agree we mr. wonderful? he's going to be here. and then we have prince harry says he would be willing to return to his royal duties but only if king charles asked him to. the a is a royal return likely? hope not. we'll dish out the drama with neil sean. trump's legal team is preparing to appeal the $355 million civil fraud ruling against him. we have a full report on that

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stuart: former president trump set to appeal the ruling in his $355 million civil fraud case. kelly o'grady is right there at trump tower in new york city. here's the question, if trump has to pay, what assets might he have to sell? >> reporter: well,ing stuart, the one behind me, for example. [laughter] trump tower. there's actually growing speculation he could have to sell off some of his new york-based real estate assets to foot that bill, properties like trump tower, some of those in-state championship golf courses. in a non-appeal scenario, the former president, if he weren't to come up with the money, the state could seize those

properties, sell them off in a he has, though, vowed to appeal. he will still have to put up hundreds of millions of dollars to do so within 30 days of that a ruling on friday. so for the appeal he'll have to put up that full cash amount in escrow, so it's $450 million when you count the interest. his own cash, loans from business folks, associates. he could also post a bond. so that would allow him to use a mix of cash and assets. trump himself and and his legal team though, they insist he has the funds. >> within 30 days even if we choose to appeal this which we will, we have to post the bond which is the full amount and some. and we will be prepared to do that. it's no coincidence, and i'll say it, they know by looking at his statements of financial condition that this guy's worth a lot of money, billions and billions and billions of dollars. finish. >> reporter: now, if he does put up the funds, legal experts tell fox business there are clear arguments for an appeal in

this case. first of all, fine of this magnitude, they have a track record of being reduced in an appeals process. also there were no victims here, and the case law indicates the statute they use requires victim testimony. there were none, and, stuart, even the bankers said we did our own due diligence, there was no issue hereful i'll leave you with one wrinkle, the judge got rid of the corporate death penalty. he has reserved the right based on what court-appointed monitors find to bring that back, so it does raise questions about the objectivity of those reviewing trump's business assets. back to you. stuart: it certainly does. kelly, thank you very much, indeed. now this, take a look at the op-ed, election 2024 out puts $6 trillion in taxes on the november ballot. ted jenkin wrote that and joins me now. part ofs this is the $4 trillion in expiring trump tax cuts if they do expire. our taxes go up $4 trillion, is that accurate? >> yeah. stuart, good to see you. that is accurate.

i think what's on the ballot here is the trump tax cuts do expire december 21s, 2025. and i think a lot of middle class people out there don't understand one of the big things that could expire is the increased standard deduction. and i think it will hit a lot of middle class families for an extra $50-1,000 $500-1,000. stuart: whose decision is it whether those tax cuts are extended or put back in mace. who makes that call? >> well, congress will have to make that call, ultimately, but there's going to be a roth of influence depending upon who's going to be in the white house. that's why joe biden has talked about potentially adding an additional $2 trillion in taxes on top of this $4 trillion that could go away, so it could end up being $6 trillion. that's why i wrote the op-ed. stuart: okay. biden wants an additional $2 trillion in taxes. what are those new taxes?

>> well, they're combining to come in a number of different flavors -- they're going to come in a number of different flavors. one on social security, if you make more than $400,000, you will pay 6.2% on every single dollar over $400,000, and so will your employer. in addition, the corporate tax would go from 21% to 28% which, by the way, is not a 7% increase, it's a 30% increase are. how's that going to help with inflation? and the top tax brackets would go up by 7% ifal altogether. and you would -- you were talking about capital gains, they may put them back to the original rates of 39.6%. this is what's a little bit scary, and it's at the ballot box in november. stuart: and those tax increases from biden would go into effect in 2025 if they pass congress. is that accurate? >> yeah. well, technically it would be january 1, 2026, but, yes, they would pass it somewhere in 2025, and it would go into effect in

2026. that's why this election is so important this year. it's not just the wallets of wealthy people, it's the wallets of middle class americans who don't see what's going to happen with the tax brackets and the standard deduction if they expire. stuart: you've explained it well. puts me many a retirement bind, but i'll discuss that later. ted jenkin, or thanks for joining us. see you again soon. >> i appreciate us, stuart. stuart: -- brackets are set to take effect this tax season. what does that mean for the normal middle class family? lauren: you'll have more money in your pocket. for this year, the inflation adjustment is high, 7. that's to make sure that you don't get pushed into bracket creep. you don't get pushed into a higher bracket because your wages have gone up, but your buying power has not because of inflation. that's why they do that adjustment. the standard deduction was also moved up by 7, so this is the how it affects the regular middle class family. you make $50,000 a year, right in you would only pay taxes, because they moved the standard

deduction up to over $13,000, you would pay taxes on $36,000. it puts you in the 12% tax bracket instead of the 22%. they adjusted the brackets. stuart: so adjust the brackets, and it's in the interest of middle class families. okay, or i got i. biden's daughter ashley, what happened with her? lauren: okay, she -- this is a shocking story. she owed pennsylvania income tax money from 2015 and again in 2021. it was about $5,000. she hadn't pa paid it. so the state of pennsylvania imposed two liens on her property. and now finally she has paid off that sum in full. ashley biden is the president's daughter, and she's married to a plastic surgeon. clearly, he has $5,000. she has $5,000. why didn't she pay it? we do not know. but create ins are saying like her brother with hunter, did she think she didn't have to pay it? such a small sum, what happened? what went on? if. >> well, now he does because now trump owes, you know, more than

most countries' gdp and she's, whoa, wait a minute, maybe i've got to abide by the same rules everyone else does. stuart: what a family. coming up, the fact is the here size of this modern migration has reduced the authorities to desperation. more states will ask for volunteers and many general rouse, charitable americans will come forward. but it will not reduce the anger that americans feel about the open border and the refusal of president biden to do anything about the crisis he created. that's my take, and it's the coming up at the top of the hour. if the world's buzziest airport, atlanta, has a homeless problem, so it's limiting access to the passengers. only ticketed passenger -- to the terms. only ticketed passengers and employees are allowed access. what a story. we have it for you next. ♪ closing time. ♪ you don't have to go home, but you can't stay here. ♪ i know who i want to take me home ♪

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stuart: the world's business just airport just announced it is closing its terminals to the public 24/7. jonathan serrie is at hartsfield-jackson international airport in atlanta. all right or, jonathan, this is about the homeless, isn't it?

>> reporter: it is, indeed, stuart. in fact, in recent months large numbers of homeless people were shaping overnight right here in the main if atrium in the airport's main terminal. because it's a public space, there were limits on what police could do, so city council has essentially finessed the wording. they've revised a loitering ordinance to officially close the airport to the general public 24/7. but when you read the fine print, you see they do allow exceptions for airport personnel, ticketed passengers and those meeting them or seeing them off. >> no, you're not banned. come on down, pick up grandma, put her back on a flight. everyone is welcome that is transacting business at the airport. >> reporter: but officially limiting airport access just to people conducting business at the airport raises concerns for some advocates for the homeless. >> the sort of criminalization, arresting people, i mean, that

may help the airport's problem, but it's not going to help the community's problem. it's going to make the community's problem worse with. >> reporter: but city officials insist their intent is not to arrest homeless people. in fact, the ordinance spells out that, first, officers must ace poach the person, ask them what they're doing at the airport, and if they suspect that they're loitering, issue a warning and tell -- and give them the opportunity to leave voluntarily before they actually issue any citation. stuart? stuart: all right, jonathan. thank you very much, indeed. and thank you to heather zumarraga for being with me for the hour: the second hour, the 10:00 hour of "varney & company" is next. ♪ ♪ give me that old school love ♪

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