>> thanks for joining us, time to get right to "varney & company" and stuart. stuart: i'll take it, maria. than a tax cut that congress will pass. a tax cut that is doable. it's on the table and investors really like it. good morning, everyone. cut the corporate rate to 15% from 35%. bring back the money parked overseas. economic growth pays for it. that's the proposal and that's the theory behind it. finally the most important part of the president's growth agenda makes an appearance just before his first 100 days are up and there's more. the president is prepared to drop funding for the border wall so that government does not shut down. that will anger his base, but

it gets the government shutdown out of the way. investors want tax cuts and they don't want fights over the budget, the result, that's what they're going to get. no fight over the budget and the tax cut and stocks will be up really big again this morning. stocks up across the board. the dow, the s&p, amazing nasdaq which is getting close to 6,000. it's another rally. as our viewers well know, we're all about politics and money and that's what is making big news this morning. you're going to like this. "varney & company" is about to begin. ♪ >> what about the idea, maybe this is my idea, that the president focuses on a narrow tax cut for corporations, and a cut in the tax rate paid by corporations bringing money back from overseas, and the tax revenue going to infrastructure. it sounds complicated, but that's the most simple, and i

think the most doable of all the tax plans. okay. that was yesterday. i think it was a pretty bright idea. it wasn't my idea, this was coming from the administration. i think we've got it right. president trump wants a tax plan that cuts the corporate rate all the way down to 15%. art laffer is with us, reagan economist. number one, art, to me, this looks like it's doable. do you think it's going to get done? >> first place, stuart, it's yours and my idea. we've been shouting this for so long. [laughter] >> no, we have. if you go back and check the shows, one thing to get it done quickly and it's not only doable it will be a huge jolt and by the way, it will pay for itself right away. not only will you get more corporate tax revenues 'cause this $2 trillion will come back and get more output and employment and profits, but payroll taxes, sales taxes, income taxes, property taxes no need to pay for this thing

because this will pay for itself and lead to prosperity. i have not been happier in a long, long time. stuart: you're painting a very rosie picture and you're saying that we'll get all $2 trillion coming back from overseas. >> maybe not all of it $1, 987 billion. stuart: i sense a deal here, the silicon valley people are the ones with money overseas. they want more h 1 abo1b visas, president trump says you bring that money back all of it and we'll bring more h1b visas. >> it's not only a deal. h1b visas, it's a win-win. when you call it a deal, a trade-off, i want those deals every day of the week in place on sunday. the number of high-skilled workers coming in with h1b

visas, the better off america is. we need people to make us more productive. h1b visas is a plus and brings the money back. stuart: no mention here in the personal income tax rate. maybe that disappoints you, but maybe it makes the corporate tax rate cut more doable. >> it makes the corporate tax rate cut more doable. it's harder in the personal tax, redistribution, which group should pay more, all of that stuff is not true with corporations, there's no redistribution problems corporations, period. when you look at individual codes takes a lot longer. for us, we had to wait until 1986 took his five years before we were able to get the individual income tax code done correctly.

as you know, reagan cut taxes in 81, but didn't drop the highest income tax rate on earned income, he shifted the brackets out to offset inflation, but this, we will get the income tax ones, but it takes longer and might as well do what we can now and it's wonderful. stuart: the market thinks so. stay there, art. more for you in a second. >> when you come back, when you come back we will be at 20,000 again. stuart: you mean 21,000. >> 21,000, i mean. stuart: in just a couple of minutes i'll be back to you, can you handle that? >> you never know that market. [laughter] >> let's take a look at the market. we're going to open up about 160-odd points again today. by the way, the close yesterday was 20,700. >> thank you. stuart: thank you, art, i did hear that. so, we're going to be within a couple hundred points of the all-time closing high for the dow industrial average today, this morning. i think it's the tax cut that's fueling this rally and so, too, is the really strong level of corporate profits that are now

being reported. maybe this is the second level-- second leg of the trump rally. let me see. let me give you the profit stories, first of all, mcdonald's, better sales helped by expansion of all-day breakfast, et cetera, et cetera. the stock will open at an all-time high this morning. look at the premarket, a gain of nearly $4. 3m, you know the post-it people, they make a slew of other products as well, that will be down just a fraction at opening bell. caterpillar, strong numbers and raised their outlook in the future and see signs of recovery in the industries that they serve, that is a dow stock, and it's up nearly 6%. big deal. higher profit of the chemicals and seed producer, dupont, helped by a rise in seed sales, that's up nearly 2%. weak profits at coca-cola. the latin american operation, that was a drag apparently and coke will be down just what, 30 cents at opening bell.

james freeman is with us this morning from the wall street journal editorial page. i say that the profit reports so far are strong, and that's a big part of today's rally, and you say what? >> you are correct. had a good fourth quarter and the first quarter, couple that with the new message of growth from washington, president trump sounding more like candidate trump, focusing on growth and that's what that 15% corporate tax rate would mean. stuart: you're not one of the guys who said that a tax cut has to be paid for with offsetting taxes elsewhere. you doesn't want that, you just want a straight forward cut, right? >> right, you've got to grow the economy, that's step one. once you've got a growing economy, you've got more people employed, you have less need for government services, you have the economy generating more cash it pay those bills. debt and deficits are a huge problem, but you make it much easier if you've got a thriving

economy that can fund that debt. stuart: how much, an arbitrary number, $2 trillion, american assets parked overseas, it may be less, may be more. how much if you've got a 15% tax rate. >> a lot of it. at 15 you're highly competitive. you're below the average of the european union. you're below where all of our basically-- all of our major competitors are. you're not quite at that great ireland 12 1/2% rate, but you really change the game and you end all of these corporate inversions, instead of leaving, companies want to locate in the united states. so, this would be an enormous game changer and it really, it goes back to justifying all of the optimism that went from election night till march 1 when investors really began to wonder if trump was going to deliver on tax reform. stuart: it seems to me like politics and money, which is what we do, aligning in a very positive way. would you say that? >> and it's great for workers.

kevin haas, the economist, now joinin the trump administration. shows that high corporate tax rates end up hurting workers, not just investors in the company. this is a huge win if we get close to that 15%. stuart: james, stay there for a second. i want to go back to art laffer, we're not at 21,000 just yet, but we're close. as you know, art, the administration may impose 20% tariffs, taxes on lumber, imported wood coming from canada. surely, art, you do not like that? could be a trade war? >> no, i don't like that, but i want to tell you that james freeman is just dead on on all the comments he made. >> thanks. stuart: what is this? a love fest amongst everybody on the set? >> it is, it is. i just don't want to end this on a downer. let me just say that it's wrong to do that. we shouldn't have barriers to trade, especially not with canada. my goodness, they are the 52nd,

53rd, 55th state-- >> you're in trouble now, art. >> they might not like that. but-- >> if canada is the 52nd straight, the 51st? >> the 51st, the u.k. or maybe ireland. [laughter] >> stuart, makes no sense to do this. if this is the second leg of the trump rally, let me tell you that the trump period is going to be a millipede. there will be thousands of legs to go on this. you'll see a boom of unprecedented proportion. we've talked about it before. you should leave it on a high note we're entering a period of enormous boom in this country, as much as the reagan-clinton boom. i'm just very excited about at's happening and finally getting going and it just couldn't be better. stuart: leave it right there,

art, don't add to it. that sound bite is going to be playing for the next three hours and 30 days. >> it's yours. stuart: art laffer, you're all right. >> thank you, stuart, and james, good comments. >> thank you. stuart: look at this, wait, let me read this. nordstrom is selling a pair of mud covered jeans, they describe them as quote, americana work wear that has seen some hard-working action with cracked on muddy coating that shows you're not afraid to get down and dirty. how much they'll charge for the mud-spattered jeans? i'll tell you, $425. liz: is there cold in that dirt? >> the elite will lap it up. [laughter] >> i'm going to laugh all the way. there's a new tell-all book, i've read it, about hillary clinton's failed campaign. her former staffers scrambling to do damage control. we'll talk about the book's

authors later in the hour. and c.d.c., centers for disease control, america's opioid epidemic may be worse than anyone thought. we're on that story. back after this with more varney for you. break through your allergies. try new flonase sensimist instead of allergy pills. it delivers a gentle mist to help block six key inflammatory substances. most allergy pills only block one. new flonase sensimist.

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>> netflix makes a deal with a subsidiary of baidu. they want to get in china and shownetflix's original content there. i'm sure it's a high, a gain over 3% for netflix. a serious subject for you. the opioid epidemic, come in dr. marc siegel. we're told it's much worse than we think. quantify it for us. >> i think it's twice as worse-- it's twice as bad as we think. we're told 91 deaths today from opioid. we're told 47,000 deaths a year now according to the centers for disease control for opioids. it's twice as bad. stuart: 91 deaths per day now,

you think it's twice as bad. more like 150, 180 people are dead a day, and 47,000 what was that. >> opioid overdose. stuart: a year, including heroin and prescription drugs. stuart: you think it's double that. >> double that, i think it's 95,000. stuart: why is it so underreported? >> we only report a specific cause of death. we call it the international classification of diseases and the centers for disease control has been fighting that for years, meaning, stuart, if you die of pneumonia, we don't ask how you got it. guess one of the ways you get pneumonia, from a drug overdose, it slows your breathing, you stop breathing, you get pneumonia, you die of pneumonia. how about severe back pain and taking opioids because of severe back pain. we write on the death certificate that the back pain killed you. influenza, you get it and die and it's the opioids that

precipitates your death or a heart attack. we have to look at what role the opioids play, and in minnesota they do. stuart: would you get behind lawsuits that sue the opioid makers on the grounds that they areartly responsible for the death of so many ople? are you behind that? >> yes. stuart: you are? >> i think that the drug manufacturers helped to prepare this. you know me, i've said it on the show, i'm not going to take the responsible out of the prescriber's pen. they can fill my closets what whatever they want, but i'm writing the prescription. i'm in favor of looking at the licenses of doctors that are writing 60,000 a year. stuart: if a patient comes to you with severe pain, chronic pain, debilitating pain, have you got something to prescribe for that patient which is not an opioid and addictive substance, which will kill the

pain? >> absolutely. stuart: you do? >> what's causing this, is it a muscle spasm. stuart: too late for that, doctor, it's too late. >> what's the reason you have the problem. stuart: it's too late. i have got chronic pain, i want relief. what are you going to do for it? >> i take it seriously, but don't throw a pill at it that isn't going to cure the problem and these pills are becoming more and more addictive and the other part of the story, when we talk border walls, we better talk about the fact that synthetic fentanyl is pouring across the border now and affects the breathing and causes pneumonia. and we've got a perfect storm here. i don't believe that giving opioids for almost all chronic back pain. sometimes you have no other choice. it shouldn't be your first choice, it should be the last choice. stuart: doctor, thank you for inng it to our attention, it's a horrific moment for people.

>> it's underreported. stuart: all right. thank you, doctor. big tech, they've gone all in on self-driving cars. look at this, apple, amazon, google, the biggest names in technology, they're all jumping onto the driverless band wagon. it's gee-whiz stuff. i want to know will self-driving cars just take over? will they really? good question. more varney after this.

>> news from nascar, one of the biggest names retiring. ashley: to quote the executive producer, the lionel messi of nascar. he's won daytona 500, and championships. i think his best finish this year is fifth. the announcement is made that dale earnhardt, jr. will be retiring the end of this. a huge name of course. stuart: you know what everybody is now asking, who is lionel messi, that's what they're asking. ashley: i can't answer that. no one who who that is the barcelona argentinian footballer, soccer player. stuart: i bet you 50% don't know who lionel is. liz: i bet 90. stuart: 50% across the board never heard of it. [laughter] >> talk, story about dale

earnhardt and we're talking about him. stuart: and going all in on the self-driving cars, apple literally hiring rocket scientists to works on their self-driving car division. amazon is getting into it, may be working on self-driving delivery trucks. google is test driving in phoenix, driverless cars. look, it's futuristic gee-whiz stuff. ash, do you think you'll see the day in your lifetime when self-driving cars take over? >> no, not at all. i think they'll be a part of our driving future. a segment that will use them and love them and expand no doubt. i think that google is far ahead in this. stuart: yes, they are. ashley: however, i love to drivand some people don't like the concept of self-driving. it will play a part, but won't take it over. stuart: i can see, in ten year's time maybe a third of the cars on the road are self driving and that's stretch.

liz: you'll see incremental changes in robot taxis and robot trucks and i think that ash is right, in three year's time there will be a dozen companies introducing robot vehicles, but they're safer, those stories are saying, they're cheaper in terms of costs, less overhead. stuart: big technology money is taking over the car industry. who would have thought that one. liz: that's right. stuart: now, we're building up towards the opening of the stock market this morning and you're going to love it. we're going to be up 150, 160 points. if we gain 150 at the opening bell, we will be round about 20,900. that's where we'll be. a couple of hundred points away from the all-time closing high. this rally has real legs, up 200 yesterday, big rally today. investors like the tax cut that they see coming and they like the profit report. and we will be back.

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. stuart: things are looking good as we head towards that opening bell. we've got 30 odd seconds to go. we're expecting another triple digit rally right from the get-go. if you look at the futures market, it's digesting a gain of about 150 points for the dow jones industrials. if that happens, we'll be at

20,900. that means, we're a couple hundred points of the all-time record high. we've got the graphics ready, we hit that at 21,000, the balloons and the confetti. who knows what we'll do. but right now, three seconds to go, we're off, we're running, and bang. we're we're opening at a gain of 151 points, thank you, ladies and gentlemen. i got that one right too. 20,921 is where we are. up 156. left-hand side of the screen. can you see green? those stocks are going up. i see only five losers. get rid of them. buy it, somebody. let's have them all. this is a rally for the ages. are you with me? a little excitement here. all right. don't look now but the nascar is in record territory. it's at 6,000. who would have thought.

crashed at the dot-cev. 6,005. up 20 points today. that, byhe way, is up 11% this calendar here. now look at this. five dow components reported their profits early this morning. mcdonald's, coke, dupont. as you could say mcdonald's blew them away. up 3%. caterpillar did very well. up 6%. not so good 3m and coke. dupont up 2.3%. ladies and gentlemen, it is a rally. who's going to cover it? everybody wants to cover a rally. okay. steve, to your first. the president wants to slash the corporate tax rate to 15%. now, don't tell me how wonderful this is. you tell me whether or not it's actually going to get done. >> yes. well, first of all, it is wonderful. but more importantly, yes, he is going to get it done. you know, stuart, it's a wonderful spring day today in chicago, and i think it's springtime in our economy. and the stock market is

showing us that after a huge surge yesterday, we're rallying again today. certainly part of that is because of what happened in france over the weekend, but i think another part, the next leg is because of the promise of serious material tax reform. just the fact that president trump is talking about this aggressive of a target. i'm going all the way down to 15% and simplification. even if we don't get quite there, if we get close, it's going to do wonders for our economy. stuart: okay. now, liz. liz: he's got to make the argument he'll pay for himself if you want to get that 51 vote argument in. that vote threshold to avoid the -- mnuchin is saying -- but i mean, george w. bush called that voodoo economics. i understand it does pay for itself, but it's going to be a fight over that. stuart: are you having fun, elizabeth? the dow is up 153 points. we gained nearly 400 in two days. liz: i'm not the skunk at the tax cut picnic is due. stuart: are you happy? >> very happy.

stuart: are you happy with a 15% corporate tax rate, and you think it will be done? >> i'm very happy with it. and, yes, i think it will be done. and maybe he has to give a little bit. what i like, stuart, and you haven't brought it up yet is he's talked about giving in or putting off the wall. you know, so i think that just shows that he's willing to negotiate, he's willing to make a deal in order to get the tax cuts done. the obamacare issue was an embarrassment. i think now this tax cut is on the table. i think it will be approved, and that's one of the reasons the market's making new highs. stuart: you're right about taking funding of the wall out of the budget, so that gets rid of the idea of shutting down the government. obviously going to like that one. i think they also like these profits that are now being reported. if i use the word a profit surge, maybe going a bit too far on that. what do you say? >> not at all. i think you're right on the button there. you let off the show by talking about technology, facebooks, amazon, netflix. we know that growth story has been there. but now you want to add

caterpillar, infrastructure place to the growth story and mcdonald's, a big dow component, global company 4% growth globally. those are real growth stories. those can support higher stock prices. stuart: steve cortez, these profits, i'm hesitant to use the word surging. what word would you describe? >> no, listen, i think they are surging, and i will give some credit here, by the way. i think the profit of acceleration was already happening before the election, so i will concede that profits, we were already emerging out of a profit recession into a profit expansion. however, i think that that expansion is accelerating now, largel becaofhat president trump has done, particularly when it comes to confidence, stuart. i think this is so crucial both ceo confidence, regular consumer confidence, on the consumer side. we've got home depot at all-time highs. we've got restaurants at all-time highs. the consumer is emboldened and spending, profits are expanding, you're exactly right. that is the formula for a higher stock market and

prosperity, generally. stuart: lizzie, don't we have consumer confidence numbers coming at 10:00 this morning? liz: yeah, hitting a 17-year high the recent numbers. stuart: we're up 180 points. we are 56 points away from 21,000. there you have it. now we're up 178. 57 points away from 21,000. i want to see the balloon. i don't want to see any downers but listen to this. series tops the list of retailers who are most vulnerable to defaulting on their debt. what do you say about that, mike? >> i think, yes. but i think series has been, you know, there was a large hedge fund, took a big position in series years ago. i think series doesn't play into the retail ice age story as much as it's a sears specific story. there are plenty of other retailers that are doing better. i think sears you can put off by itself. ashley: there have been 14 retail bankruptcies through april 6th this year alone. there were 18 during the

entire year of 2016. so retail ice sage reality. stuart: sears special case in and of itself. j.c. penney is down. liz: moody says that the amount of debt coming due for the 19 worst off basket case r retaileris set to double in the next two years, the amount they owe onheir bonds. so, you know, that means you're going to see a shakeout -- big time shakeout in the next two years. stuart: nasdaq is doing what? technology? doing wonderfully well above 6,000. the retail sector really taking on the chin. goodness, me. check the big board, why don't we? we're up 182 points now. 50 points from 21,000. a couple of individual stocks making news. t-mobile adding new subscribers, customer growth slowing, makes no difference th. down 5 cents, that's it. better profits at lily. better demand there for its diabetes treatment and for its drug.

nonetheless, the stock is down 2%. how about jetblue? a lot more people flying jetblue. investors like it. they're making more money. jetblue is at 22 this morning, 2.7% higher. here's a story when really flustered me. grocery chain albertsons exploring a takeover of whole foods i don't get it. i thought albertsons was very small. whole foods is giant, aren't they? >> albertsons is owned by a giant private equity firm, and they've been wanting to go public, and they've delayed their ipo a few times. there's been talk of amazon buying out whole foods, so whole foods has kind of been on the block. there's a story out of the financial times in london that albertsons could be looking at whole foods. i don't buy it. one of the reason reasons is that albertsons is a union shop. whole foods is not a union. so two of those together would be really tough. ashley: a big group. stuart: i didn't realize it. i didn't realize it was owned by private equity.

here's something that i think is a very big deal. netflix. they're trying to make a deal with a subsidiary to get into chinso that they can show their original content programming there. the market loves it. up 2.5%. netflix. ashley: netflix. stuart: you've got it. you own it? >> we don't know it. stuart: you missed it, in other words. >> well, we talked last week. it came to the high 80s, we bought it, sold it, low 100s. it's a huge growth surge because it's changing the way millennials watch tv. the way they can consume content. love netflix. stuart: stock just keeps going up 147. very close to the all-time high. >> and still a lot of talk, stuart, that someone may akwai here like disney or apple. i don't know if they'll pay that much. stuart: they've got the money. apple has 220 billion cash. >> yeah, they do. stuart: here's another story. not sure thinned one. general motors 200 staff at the venezuela plant that was

taken over by the government. liz: this is a breathtaking textbook case of the absurdity of socialism and venezuela. here's what's going on: gm is saying that we could not produce cars. we haven't made cars since -- two years ago. so because the price controls because of the shortage of parts. so they let go 2700 workers after venezuela took over the company. venezuela, a court said wait a second, gm. you promised to make 10,000 cars. gm is saying no one's buying. there's no demand there in your country. so that's the back story to the collapse that's venezuela. stuart: crazy socialism all over again. okay. the trump administration imposing new tariffs, another very interesting story. new tariffs on canadian lumbar. does this amount to a trade war? >> it may. but, you know, they're saying they have the right to do it. i would prefer the way, the

way to work out a deal, i guess the administration feels too long in siding with canada. but i think you don't need to get into a trade war. i would like to avoid that. ashley: i think this is part of the negotiation to mike's point. you throw that out there, now we'll meet. >> hey, 20%. you want to meet? ashley: right. exactly. stuart: steve cortez, you're a trump guy. you're inside the campaign. is this a trade war or the opening shot of a negotiation? >> i think the ladder. it's a bond negotiation. i certainly hope so, anyway. i don't want to get into a trade war and one of the few areas i'm not complete agreement with the president is sometimes on trade. but i do agree with the principle that we have a lot of very, very bad trade deals. we don't have reciprocity, particularly when it comes to china. they're not as open to our products and services as we are theirs. for the most part canada has been a pretty darn fair trade partner, so i hope we don't start picking on canada a whole lot.

stuart: well, steve and mike, we're glad you could be with us today. the market has started off strong, and we're up about 200 points. steve, mike, thank you very much. yes, we are, we're up 187 points. close to a 200-point gain again. in our 10:00 hour this morning, one of the conservative student groups suing uc berkeley saying let ann coulter speak. the young americans foundation joins us at 10:25 this morning. next, one of the authors of that new book shattered. a tell all about hillary clinton's dysfunctional campaign. that book has former clinton staffers very much on the defensive. we'll tell you all about it in a moment

. stuart: yes, we made it. up 204 points, to be precise 20,967, the effort of a strong tax cut. look at the nasdaq, 6,010. who would have thought? it's up 11% this calendar year. let's get back to politics. the clinton camp not at all happy of a new book alleging her presidential run was plagued by pessimism and chronic dysfunction. some former staffers are trying to push back. they're on twitter showing all the sweetness and light on the

campaign trail. tweeted about what the clinton -- that clinton watched baseball on her phone. here's a birthday celebration tweeted by clinton's press secretary nick, and here's a group shot tweeted by former clinton communications director smiles all around. what pessimism? dysfunction? certainly not, say the clinton insiders. joining me now, author of the book shattered jonathan allen. jonathan, welcome to the program. >> good morning, stuart,. stuart: i read it, by the way. >> thank you. stuart: yes, thank you. i cheated like everybody else. i turned to the end of the book to see what she did on election night. i'll leave that until later. the book really starts out with this huge fight about who should write her very first presidential speech. there was all kinds of people involved in it, and it didn't work. tell us about it. >> basically people trying to figure out what her message

should be, how she could articulate her vision for the country. they were confused by a lot of things. you had john, the former head speechwriter for barack obama was brought into process, and there was this tangled line of communication. none of them could really provide a message for her where she hadn't done so for herself and as one of her senior aid put it to me in my coauthor, i would have had a reason for me for one minute running, or i wouldn't have run. stuart: but she didn't have a fundamental reason to run. she didn't have a real theme. and never really emerged, did it? >> it really didn't. this was a problem that deviled her campaign throughout. i think when you looked at bernie sanders, it was very clear what he was saying, he would do with the power of the presidency, should he get it. if y look at dond ump, it was very clear what he would do with the power of the presidency if he got it, including cracking down on illegal immigration, including bringing america back from

wars overseas. with basic nationalism is very easy. with hillary clinton, she was for so many things that it was hard for people to find out -- to figure out exactly which of those things were actually her priorities. stuart: how important in her loss was the e-mail scandal, james comey, and the russians? >> i think it's impossible to -- or very difficult to overestimate how big the e-mail scandal was because it damaged her credibility with the public so much over such a long period of time. it was something that she did as a matter of convenience that i don't think people just didn't believe that, and then she refused to apologize what she had done, even though there was classified material in her private e-mail. whether or not that's something that could be prosecuted, it's certainly something the american public had a right to be upset about. even unethical, it was certainly politically disastrous for her and everything comey did was that

e-mail server. that's a huge issue. stuart: the end of the book where you go into election night itself, you do not portray her as angry, frustrated, tearful, shouting and screaming. you don't portray her like that at all. you portray her subdued and two words to mr. trump. congratulations, donald. that was the whole way it ended; right? >> the conversation was a little bit longer than that. but it was very short. about a minute. those are the only words we used to describe it. it's already a long book. but this was somebody who was stunned, shocked, you know, was trying to process what was going on to her. she believed that she was going to be president of the united states. she told people around her that she believed she was going to win, and it was a shocking upset for her in the way that she dealt with it was quiet. stuart: i really think that the title of the book says it all. shattered.

i can understand how someone whose lifelong dream came so close, it would have been shattering at that conclusion of the whole campaign. jonathan allen, thank you very much for being with us, so we do appreciate it. come back again. okay? >> i will and thank you for reading it, stuart,. stuart: it was a good book. check that market again, please. that's one of the big stories of the day. look at it go. we're up 200 points plus an almost all the dow 30 -- well, certainly 25 of them are in the green. they're up. supreme court justice says there is quote disturbing trend with court's ruling in favor of the police and not alleged victims. supreme court justice, is that appropriate? our own judge napolitano is next think again. this is the new new york. we are building new airports all across the state. new roads and bridges.

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mixed up here. in the supreme court opinion, i think she got political about the police. judge andrew napolitano is here to tell me i am completely wrong. [laughter] >> something i do almost every day. stuart: in a written opinion delivered to the supreme court she said. >> here's the facts: at a routine dwi stop, an altercation occurred. the driver walked away from the cop, the cop shot him in the back and killed him. hit him in the back of the head. the man's estate sued and the trial court through it out without a trial. so the issue of the supreme court was not was it right or wrong for the cop to use deadly force. the issue before the supreme court was is it for a jury to decide whether or not it was right or wrong to use deadly force? the supreme court decided not to hear the case, meaning the case was thrown out. in the decision not to hear the case, it's where she said something that you found controversial and a lot of

people agree with you. it seems to me t theres a clash between an individual and a police officer, not on a criminal case but in a civil case where the allegation is too much force, we're always siding with the police and not letting juries decide. so her argument is not that the cops are always right or wrong, not that these people are always right or wrong, but the rightness or wrongness should be decided by juries, not by us. now do you still feel the same? . stuart: no, i do not. you've straightened me out, judge, and that's a rarkable for you to have done. i thought it was a bit like the comments of ruth baiter. >> i thought did she go on television and say this? until you dig deeper and say it was a reasonable argument, should judges make these decisions or should juries? and she said it the right way

in a opinion. stuart: but it's nothing like what justice ginsburg said about donald trump before the election. that's completely different. >> a personal assault so strong it was totally out of place for a member of the judiciary. i believe she was silenced by other members of the court. stuart: can you just answer this in 20 seconds? i am told it is justice kennedy that is close to retirement, walking away from the job. >> a lot of people agree with you. stuart: that would be another vacancy on the supreme court filled by president trump. >> yes. it would. stuart: and you would love that. >> it would be great. stuart: got it. >> i am a friend of his and fan of his, but it's time. stuart: thank you, justice -- almost said justice. >> i'll take it. that's a promotion. stuart: a newsroom promotion. [laughter] how is this for a poll? if the election were held today, president trump would still beat hillary clinton, even with the mainstream media pouring contempt over him for six months. i've got more on that at the top of the hour coming back

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. stuart: if last year's election were held today, same candidates, trump versus clinton along with the two third party candidates, look at this. donald trump would win 43-40. that's a surprise after all the venom that has been hurled of our president, he still comes out on top. endless demonstrations, boycotts, insults, and a media that truly loathes him, donald trump still wins. there's one more for you. for every 100 people who voted for trump last november, 96 would vote for him again. clearly, he hasn't lost his base. what's going on here? well, first, the media is not as powerful as they -- we -- would like to believe. nearly six months of unrelenting contempt has not persuaded trump supporters to change their minds. they don't have buyers remorse, despite the media's nonstop barrage of hateful opposition. second, 67% think that

democrats are out of touch. well, they are leaderless. their opposition to everything the president does or says rings hollow. nancy pelosi says trump's war deprives babies of food? and who speaks for democrats these days? good question. pelosi, sanders? or the foul mouth dnc chair tom perez? with people like this? no wonder trump supporters stick with him. one more item. the president is not getting the blame for the troubles for the last r last few months. congress is taking the hit. two-thirds think they are doing a lousy job. could it be the president is stabilizing his administration? finding his feet? coming through after a difficult start? maybe. just think how his position will improve if we get the tax cut, and we get the growth that we so desperately need. the second hour of "varney & company" is about to begin. ♪ ♪

♪ ♪ ♪ . stuart: new economic numbers just coming in. let's start with consumer confidence. liz: slightly worse than expected. coming at 21.3, they were looking at 22. still at decades high. 17-year highs and when we're looking at the durable goods component, meaning the optimism about your finances, people are saying, yeah, we're more likely to buy big-ticket items like refrigerators. so there's optimism about personal finances, it's still organizer, still going strong. . stuart: one more set of numbers. new home sales. ashley: very good. 612,000 on a annualized basis. that is up 15.6% year over year. an eight-month high.

the spring selling season getting off to the bang. that's very impressive. stuart: that's a very, very strong number. i follow new home sales, actually. 620,000 annual rate is strong indeed. liz: big number. ashley: big number. stuart: that has helped stabilize with a well over 200-point gain. liz: with these price points, you know the builders are going to be building more. stuart: you would think, wouldn't? we're up 209 on the big board. now look at the nasdaq. home to all of those smaller technology companies. crossed 6,000. that index is up 11% so far in 2017. isn't that extraordinary? now this, united health, microsoft, mcdonald's, home depot, they're all in record territory. and all of them are dow stocks. there's another reason why the dow is up 208. let's get back to what i was saying at the top of the hour, that poll from the washington post, president trump would

still win if the election were held today, he would beat hillary clinton 43-40. who would have thought? all right. joining us now is town hall editor katie. would i say that maybe donald trump is stabilizing his political position? he hasn't much opposition. >> i think stabilizing is good, but i also think the country is experiencing outrage fatigue. and since the election of president trump, we have seen nothing but outrage over little thing that he does, whether it's big or small from the socia media, and that has not translated to people who actually cast their votes in november. and the interesting thing about that poll too is that the left made this argument that, look, hillary clinton won the popular vote, even though it means nothing because we elect presidents based on the electoral vote. but according to that poll, he would also win the popular vote. the hits just keep coming for the democrats who just can't seem to get it together.

stuart: now, overnight it was announced that president trump will not include funding for the border wall in the spending bill that has to go before congress very soon. i suspect that that might anger his base. what say you? >> i actually think that there's going to be a little bit of patience with the border wall. it's a big project. it's an expensive project. congress is going to come up -- have to come up with $21 billion to fund this thing. d i thk that the american peoplere actually a lot more patient than we give them credit for. and in terms of the implications here, the president certainly doesn't want a government shut down in the first 100 days of his first term. and so it's not worth fighting over now. but as we saw him say yesterday, he looks forward to having this debate for the rest of the year and certainly getting it done by september. stuart: now, there's a very big and important meeting coming up tonight in the white house. president trump's economic team will not square off but will meet with the top republicans in congress.

they're talking about this tax cut. 15% on corporate profits. i suspect that the president and his team might be doing a little laying down of the law to the republican party. this is it. get it done. you think? >> well, and this is a very smart strategy because when you look at the way that the health care legislation and obamacare repeal went down, there was a conassesses at the beginning about where the legislation was supposed to go. it was kind of rolled out and then people decided they were going to debate it and maneuver around it as it was already in the public sphere for debate. this time the white house is taking the helm and saying this is what we want to do. we're going to have this meeting at the white house before we start looking at this legislatively. this is the plan. let's all get onboard now. hash out your differences now behind closed doors rather than in front of everyone in the world for everyone to see, and then we can move forward with this corporate tax cut, which we've been talking about for years in this country. stuart: they're learning.

i do believe they're learning. we're just shy of 100 days and they're learning. katie, thank you very much for being with us, as always. now, before we move on, i do want to show you the dow industrials again because we've gone strght some more. now we're up nearly 230 points, awfully close to 21,000. why is this happening? because the president is going to propose a much lower corporate tax rate and corporate profits are coming in very strong. again, let me repeat this. a big meeting on capitol hill tonight between top tax writers in congress and the president's economic team. this is all about the big tax announcement tomorrow, the 15% corporate tax rate. look who is with me in new york city. none other than republican from tennessee. now, i know we don't agree that a 15% tax rate is a wonderful thing. but you have to tell me that the republican party will get it done. >> we are going to get it done. we do get health care done, we

do get the tax reform done. stuart: can you tell me 15% corporate tax rate is done soon? >> stuart, listen, we get our work done. we send it to the senate. we're close to an agreement on health care, and all attention will turn to tax reform and, yes, i believe you're going to see this done this year. stuart: is that the time frame? you want to do health care first and then get to the corporate tax? >> i think we're very close. i think we're very close. stuart: you can't do the corporate tabs cut first? >> you want it today. stuart: of course. not for me, just to get the economy going. look what you're doing for the stock market. almost at 21,000. absolutely, and i agree with you. and, yes, we are going to get it done. i think it's important that the president lay out his path, his thoughts of what he wants to do. build that 30,000-foot picture and then allow congress to come in and do their work on

the corporate side and the individual side. stuart: again, i've got to press. i've got to press. the first thing that comes to poor congress is not health care, it's the corporate tax cut, is it? corporate tax cut? >> i think the first thing you will see is a finish to health care because we're very close to finishing that. stuart: so health care first. >> and then i think while we go through the process of tax reform up, getting it ready to go to the floor, getting it out of committee, going through regular order, seeing it advance, then of course. the house is going to do that. we're going to gladly, cheerfully, gleefully send it to the senate and encourage them to do their job and get it to's desk. stuart: they want to see something done. they want it done. >> of course they do. stuart: and you're telling me that the first thing, you've got to go back to health care. can you assure me that you've

got an agreement with the freedom caucus? >> we are working through getting that agreement. we are very close. it may not be this week, but it might be next week. we are getting ready to finish up, stuart. 200 -- i know you have. and we are close. are allergies holding you back?

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making every stay a special stay. holiday inn, smiles ahead. whether for big meetings or little getaways, member always save more at holidayinn.com ♪ stuart: solid gain. how else do you put it? 1% higher. 220 points. 20,990. this market is going up. as for the nasdaq, new all-time record high. that just keeps on going up.

6,021. and, by the way, the russell 2,000 also has just hit an all-time high. liz: wow. look at that. stuart: firing on all cylinders across the board today. let's get to the free speech battle at berkeley. students filing a lawsuit against the college for blocking ann coulter from speaking on the day she was invited. that would be this coming thursday. with me now, young americans foundation spokesman spencer brown. you're suing berkeley. on what grounds do you sue them? >> well, first and foremost, this is about student rights on this campus. here we have a school who has decided conservative students on their campus aren't required to follow the same first amendment rights as other students. so you've seen them take a position here that's so indefensible and banning free speech for conservatives that even prominent liberals like right hand come out and voicing their support. . stuart: now, berkeley did come

out -- first of all, they said, no, you can't speak. then they said. okay. you can speak on may the 2nd. but you're not happy with that and neither is ann coulter. why are you not happy with an alternate date. >> absolutely not. the date that they picked for us, that may 2nd date is what the school calls their dead week so students aren't even on campus for the large part because it's the week in between the last week of classes and their final examples exams. it's just another attempt by berkeley to block students from hearing a conservative viewpoint. stuart: is there any way you could give me a sense of the student body as a whole think so about this? because we're very used to the very hard left, the violent left shooting it down. but what about the vast majority of students who are not the hard left? how do they feel? >> well, unfortunately, at a place like berkeley, we really don't know. it's so rare that a conservative appears on campus and we've seen this recently where berkeley has taken steps to or not stepped in to

prevent conservative speaker lectures to be blocked on the campus. so as far as the student body knows, we don't even know request they haven't been allwed to hear a conservative viewpoint. stuart: now, a couple of people and institutions are coming out and limiting free speech. i have a new york times op-ed which says free speech doesn't give you permission to say about that. here's the quote. the idea of freedom of speech does not mean a blanket permission to say anything anybody think so. it means balancing the inherit value of a given view with the obligation to ensure that other members of a given community can participate in discourse as fully recognized members of that community. you got that? howard dean is also saying free speech does not allow you to give hate speech. so they're coming back at you. they're pushing back at you here. i think they're trying to limit free speech, and you're trying to open it up. what's your response to the times and to howard dean? >> well, i think the new york

times piece specifically talks about sort of recalibrating the parameters around free expression on campuses. and i think it's important to call that what it is, which is essentially just shredding the constitution or in a way we see happen a lot at young americas foundation when we're working with students on campuses is that this is a leftist argument that they will use. they're saying the speakers you're using might insight riots or might not. so they take these unconstitutional actions in order to shut down conservatives on campus. stuart: spencer brown, thank you very much for coming today. we appreciate your presence. >> thank you? stuart: yes, sir. how about this? the writers guild striking again. what does that mean for your favorite tv shows? we will have the story. and the fight to be first for drivable cars. apple, alphabet, amazon, they're all in the running. that car could be coming to you much sooner than you think. more varney after this you always pay

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. stuart: just look at mcdonald's, the stock that is. help by expansion of their all day breakfast menu. the big mac. beverage value promotions, that stock is at an all-time high. knocked on the door of 140. and, by the way, the dow jones average just hit 21,000. there you have it, ladies and gentlemen. the graphics for you, but we're up 236. 21,000. how about that. now that story about the writers guild. they voted to authorize the strike. here's what we want to know. will primate tv take a hit. i asked that question to hillary who was in los angeles for us. hillary. >> hi, stuart, well, a writer strike could mean a late night tv black out for viewers with out writers like the tonight

show and could go dark immediately. now scripted shows in the fall could be delayed and fans of american horror story and the walking dead could get fewer episodes this season. a strike through the summer means a lot more reruns and a lot more reality tv filling the airtime. but, stuart, what's interesting is the biggest winner in all of this could be networks, tv, rival, and competitors. netflix and hulu. streaming sites could see a huge boost in traffic as viewers ought to see new material online, instead of sitting through reruns. stuart,. stuart: oh, hillary, you got that so right. streaming is king. well done, hillary. thanks for joining us. thank you. all right. there is a controversy as you know surrounding the new netflix show 13 reasons why. that's the name of the show. a new jersey school district has sent out a mental health alert out it. what's this aut? li well, bail we're seeing increasing number of schools, including in new hampshire and new jersey putting out warnings of this show 13

reasons why. and basically each episode blames a classmate or a faculty member for the suicide of the lead. so there's warnings now going out from schools saying, you know, teens are impressionable, they copycat each other. there should be better resources for parents to instruct their children not to binge watch this. there's recommendations by health authorities saying, you know, people are not responsible for your mental health, and that message needs to be given to teens when they in reality need to rely on themselves to look inside themselves for their mental condition. stuart: we just had the on screen there a section from the e-mail sent out as a mental health alert to montclair public schools. it has gone that far. this has no impact on the stock. more of a cultural thing. the stock actually is going to an all-time high up 147. up nearly 4 bucks a share. now, president trump says, yes, he's willing to take

funding from the border wall out of the budget. well, that anger his base? newt gingrich joins us later this hour on that subject

. .

stuart: we hit 21,000. very solid gain. 200 points to the upside. nasdaq well above 6,000. it is up 34 points, up 12% this calendar year. netflix has just hit an all-time high.

liz: they borrowed a lot of money in the eurobond market. they're moving into places possibly like china. they have 94 million plus subscribers and continue to grow. getting back to nasdaq, first time it passed 5000, passed it in the dot-com bubble era, took15 years. surpassed it in 2005. now it surpassed 6,000 mark. president trump repatriating cash. tech companies. ashley: all of it. all of it. lowering corporate tax by some 20%. this is remarkably steady index. unlike the dot-com bubble it is built on something a lot more substantial. the big techç companies moved this along. it has been a remarkable ride under the trump administration where does it go from here? feels like continues to want to gain and gain and gain. stuart: american economy is all about technology. liz: it really is.

ashley: every aspect of our life. stuart: the most advanced technological society in the world. liz: with the exception of broadband. we're so way behind on broadband. south korea is eating our lunch. stuart: when it comes to writing software, nobody competes with american companies. software controls computers. they're the brains which make computers function, that is why we're doing so well. we have activision blizzard. look at that chart. tells a sto. that has just about gone straight up. there are other nasdaq stories within the nasdaq composite index. suffice it to say we're up above 6,000 on that index and who would have thought, who would have thought, not me, that's for sure. i want to get back to taxes. president trump needs a win on this. he wants a 15% corporate tax rate. are we going to get it done? to the former deputy campaign manager for donald trump, his name is david bossie.

david, i heard many times this morning, oh, we hope we will get this done. it's a wonderful thing. we need this. my question is very simple, are the republicans going to do it? >> well, you know, this, there is a lot of different moving parts here, stuart. we all know that. i think that has been covered this morning. i think the president's intent through his leadership, through his campaign promises is to cut the rate from, corporate rate from 35 to 15. i think there is some problems with the reconciliation rules campaign promises meet political reality in the senate rules. and, so you can't change those rules very easily at all. stuart: wait a minute, hold on a second, david. very simple question. i do not understand and i'm not familiar with all the rules and regulations of the parliamentary maneuvering in the house and senate. i'm not familiar with that. >> right. stuart: are you telling me we can not put a bill in front of the house and front of the

senate, corporate tax rates will be 15% not 35% and do itith 51 votes in the senate to get that passed? we can not do that? >> can not. here's why. it is very simple -- the rules of reconciliation in the senate are very simple. that is if the deficit is going to increase by over 100 billion per year, they, the increase of the deficit, you can't do it with inside of a reconciliation. so the proposed tax cuts to 15% balloon that budget deficit greater than that number, an therefore you would need to do it outside of reconciliation. so if we can get this done very quickly, and corporate rate has to go to 18, 19, or 20%. in order to got it done right now the president is willing to do that. he is a master negotiator. he is somebody through his leadership, just talking about the markets, look what they have done. they believe in the hope, growth and opportunity that donald trump has brought back to the american workforce, to the

corporate leadership around the world. bringing jobs back to america, hiring is on the rise and belief in the markets, in capitalism is on the rise. stuart: faith in the political establishment is on the line. if we elect a president and we elect a republican senate, and a republican house, and a republican in the white house, we can't get done any form of tax cutting, that means to me there is something severely wrong with our political system. >> well i think that is one of the reasons that president trump's had these roadblocks. he came in here as a change agent, a change president. he is running into this broken down washington which is the reason he got elected. democrats are arguing about the deficits right now. they only want to increase deficits, not by american tax cuts on americanç taxpayers, bt they only care about it if it is government spending. they want to protect all of the spending that is irresponsible

and one of the reasons that donald trump got elected again to come in here and change the way government is run, and cutting government is another high priority for the president. stuart: david, thank you very much for being with us. we want that tax cut, okay? got it. lost everyone. now this. apple literally hiring rocket scientists. it is trying to catch up in the driverless car competition. what is this about, liz? liz: hiring former scientists from nasa. one of them worked on a rover that would hit the moon of jupiter, robotic, robots that can open doors. they're assembling a team. ashley made the point, is it just about the software or entire car itself? apple has the money to buildout the cars but does it really want to do that? does it need to do that? can it team up with a carmaker to put software in there by a former nasa engineer.

stuart: driverless cars are coming. i don't know what portion they will be but i did not see that coming. now this, nancy pelosi says funding the border wall, would take food out of the mouths of babies. if it leads to a government shutdown, come on in brian kilmeade who joins us live on the radio. what do you make of that from former speaker pelosi, brian? >> speaker pelosi really likes to bring the world together and democrats and republicansing together which you can only envy. i was speaking with governor kasich who join us in studio, indicating what gave her those talking points before. you can't possibly believe that, some of the things she was saying, border wall shows a weakness on a leader build a wall. the weak chinese who built great wall and very weak israelis who built their wall. come on. stuart: goes back to who leads the democratic party.

leadership nancy pelosi? she has been a leadership position in 10, 15 years i know of. ii don't he think it has been very successful, she is saying same things 10 years ago, outrage just things, taking the food out of mouths of babies because you build a wall? >> makes no sense. wall divides communities. mexico, u.s., that is called different countries. he is in texas. are there issues with some ranches in texas when, they will have to be dealt with? sure. we're talking about thousands of miles, say hundreds of miles to begin with, we can deal with ranches at locations with a different point. the easy stop where the world stops, where they're ineffective or ran out of money or stopped spending money from 2006, this could be sealed immediately. there is no argument because it benefits donald trump because he talks so much about it. the pressure from alleged base, these horrible, this base all this pressure on democrats will

rob them of money. really? they had all the money in the world last election. they had no success. and if you read that book, "shattered" found out what they spent it on. stuart: i read that book. did you read that? i really enjoyed it. i cheated like everybody else did, to see what hillary did on election night itself. >> the audience know both radio and television. student doesn't have to read at this point. he has people read to him. you see stuart walk down the halls, different staffers reading to him and bos and papers. that iswhat happens when you get to your level. stuart: mo swiftly along, brian kilmeade. the nfl signed a deal with the fitness tracker start up whoop, inc., allowing athletes to sell their health data to a television network, for example. what do you think of that? >> it will be interesting. wearable technol]gy, we have fitbits, a lot of people choose to wear them. if cam newton is under pressure late in the game, you maybe tell

his stress level compared to what tom brady would be going to at similar time. stuart: right. >> something else for commentators to talk about. something else for youth coaches to shoot for. what is key, these players will decide, this will be a piece of the action if it goes public or not. they will have health privacy at the same time. beginning learning more about the body and something else to talk about, from the first down markers to the temperature on the field, to the conditions. now we'll talk about the temperature in one person's body compared to how other people act in stress. stuart: it will let es -- espn commentators talk about something. >> i like fox sports commentator. i'm loyal to my company. stuart: i like fox sports 1 and fox sports two because they have soccer. did you learn dale earnhardt,

jr is riring? >> that is shocking. just got married. that what happened when you are very, very successful. you have to wonder when you become a parent i should i put my life on the line every single day? if your heart is not in it, i imagine he goes to the booth. jeff gordon unbelievable success in the booth. earnhardt could do the same thing. i think it is stunning. stuart: do you think dale earnhardt would be classified as the lionel messy of nascar? >> messi dominated for -- stuart: trick question. i wanted to see if you learned who lionel messi was. >> i grew up a soccer player. i still play. just because i don't have an accent doesn't mean i don't understand the sport. how dare you, stuart varney. stuart: what proportion of your audience knows who lionel messi is? >> i would say, my control room, 50/50.

my audience say 70%. i think when these international games go up with cristiano renaldo and company, the ratings are higher than u.s. national team. international soccer has a huge audience. why nbc spent all the money for it and fox sports bought the world cup. this is new emerging sport in america, not just the world's most popular game but emerging sport in america. we'll have something to talk about with everyday americans who don't necessarily play the sport but like the sport. that's new. stuart: incredible, lionel messi, dale earnhardt, nfl selling medical information and nancy pelosi all in two minutes with brian kilmeade on the radio. that is incredible. brian, you're all right. that is a high accolade from me, you're all right. >>you're a very tough man to impress. stuart: thank you, son. >> see you in e halls for the christmas party. [laughter]. stuart: we might have to wait for president trump's big, beautiful wall.

the president says he is willing to take it out of the budget. newt gingrich on that next. and the assault on free speech. ann coulter gets blockedded by berkeley, but a pro-palestinian, anti-israel activist can speak at a graduation ceremony in new york. mark steyn on that later.

♪ ashley: earlier in the program we spoke with former reagan economist art laffer about

president trump's plan to cut corporate taxes by 15%. he says this tax plan is not only doable but it will be a huge jolt. roll tape. >> this is the one thing he can do quickly, get it done quickly. it is not only doable, it will be a huge jolt. by the way it will pay for itself right away. not only will you get more corporate tax revenues, because this 2 trillion will come back and you will get more output and employment and profits but you get payroll taxes, income taxes, sales taxes, property taxes. there is no need for the stupid pay-for this thing because this will pay for itself and lead to a lot of prosperity. i have not been happier in a long, long time. ♪

stuart: still a gain of over 220 points. we have touched 21,000 earlier. we're still very close. lots of big-name stocks hitting brand new highs. i will point out netflix at the moment, 148 a share. they're trying to get original programing into china. that is the news this morning. netflix up another 3%. in a few minutes the president will head tote united states holocaust museum to give remarks during the national day of remembrance. we'll bring it to you live when it happens. president trump announcing

that he is willing to push funding, funding for the border wall, pushing it back to september to avoid a government shutdown. maybe this upsets his base? former house speaker newt gingrich with us now. what do you think, newt, do you think this would upset his base? >> no, i don't think so. lookingç at the amazing job general john kelly is doing as secretary of homeland security, looking at a dramatic declinn the number of people crossing the borde illegally, looking at combined justice department, homeland security campaign against the ms-13 gangs, i think the average conservative feels that trump is doing the right things in the right direction and they all know that the real opponents are people like the democratic leaders in the house and senate. you know, it is chuck schumer who is a problem. not donald trump. and i think that they are going to be very happy with the direction he is going in. stuart: sum it all up for us will you please, newt.

this week seems like a pivotal week for president trump. seems like he is finding his feet. seems like things are beginning to to go his way. am i reading too much into this? >> i just finished a drafting a book that will come out this june called, understanding trump. i spent a lot of time thinking about him and how he operates. i keep telling folks this is one of the three or four smartest people ever to be in the presidency. you are seeing it. he has personal relationship with president of china, something nobody thought was possible two months ago. gotten more done with the chinese about north korea and obama ever dreamed off or bill clinton dream the of or george h.w. bush or george bush dreamed of. this is interesting experience. this is because of hispersonal ties. he haslose relations with egypt,ith saudi arabia, united arab emirates, with jordan, all supported his use of tomahawk

missiles against syria leaving russia isolated. at home he signed into law, people forget this because the news media myopia, but the fact they signed 28 laws and 29 executive orders. those 28 laws helped roll back $89 billion of regulation a year slowing the american economy. there is a reason that the dow is going up. i don't think this is mirage. i think this is the beginning of a profound shift in economic growth and you will see that tomorrow, when he introduces and talks about the scale of tax cuts he want which i think the business community and conservatives are going to love. stuart: oh, yes, they love it already, newt. we're at 21,000 on the dow industriaraight up. let's not forget if the election were held today, trump wins 43-40, that tell as lot about the perception of this president we don't get from the media. newt, sorry to do this to you. i'm out of time. do you have one last thing, 20 seconds, go? >> no, i was going to say,

despite 91% of the comments in the mainstream media being anti-trump. he is still getting through to the american people. stuart: don't you love it? newt gingrich as always. >> i do. stuart: i do too. thanks for being with us, newt. great stuff. thank you very much. how about this? this is a shock. a secondhand-written copy of the declaration of independence has been discovered. liz? liz: what a story. basically dates to the 17 '80s. duke of richmond thought to have owned it. he backed theamerican revolution at that time. so harvard researchers sawthis really curious listing in a catalog out of west sussex. manuscript copy on parchment of the decklation -- 13 united states of america. they thought what is this? two chester? ashley: yeah. liz: they went and found it. they are stunned by this there is handwriting. they don't know the handwriting. there are erasure marks. it is stunning and in good

condition. stuart: i want in in america, please. ashley: yeah. stuart: check the big board, nice old rally. 200 points plus. we are very close to 21,000, we hit it earlier, now 29,990. more "varney" after this.

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stuart: now this. yesterday i spoke with congresswoman claudia tenney about a phone call her son had with president trump. some of you were not happy with the conversation. roll tape. i understand the president was trying to get on your good side, you in particular. he called your son, who is a marine. look i'm not going to -- >> come on. stuart: he was buttering you up. >> i think the conversation was really sweet. my son was very excited about it. he is, it was a great moment. you're being cynical. stuart: moi? here is what donna had to say about that. more company, less varney. is that how she spelled it? is thatç right? >> liz: making fun of your accent. stuart: please proud -- congressman claudia tenney did not deserve he vawn sar cattism. she was being kind to call you cynical. liz: i guess your transparent.

i'm totally teasing. stuart: claudia tenney was next to president trauma in the white house. before the meeting the president calls up her son who was in the military. liz: you're pointing it out. this is lbj style who are trading behavior. ashley: isn't that what politicians do? stuart: i applaud it. what -- ashley: you were pointing it out with a smile on your face. liz: you're cynical. stuart: i'm so glad you're back. ashley: so, thank you. liz: so cynical, varney. stuart: i don't think i am cynical. liz: you're not. we're teasing you. stuart: like rales are cynical, lack after sense of humor. liz: and common sense. stuart: that too. conservatives are never cynical. they have a great deal of common sense. they love a lot. ashley: yes. liz: agreed. stuart: there will be more "varney," or vawney, after this. does psoriasis ever get in the way of a touching moment? if you have moderate to severe psoriasis, you can embrace

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stuart: well the first 100 days are almost up. ike the president's rough

start in smoothing out may be at a turning point? maybe things are beginning to look up for him? well consider this. he wants to slash the corporate tax rate from 35% to 15%. this would be the first step towards the all-important growth agenda. this is what business has been waiting for. big meeting in the white house tonight, where the president strongly urges, tells, congress, get it done. this is very different from the failure of obama, of the health care. that's a turning point. and so is his decision to take funding for border wall out of the budget. he doesn't want a government shutdown. get it done. the mark it is responding up 200 yesterday. way up again today. investors see the turning point and seem prepared to push stocks prices up again. the second leg of the rally, that began last november?

maybe? we had six months of media contempt. endless street demonstrations and resistance from democrats. it has been a 96-day storm. the future looks a little brighter now, doesn't it? the third hour of "varney & company" is about to begin. ♪ stuart: happening this hour, president trump will make remarks at the national holocaust museum on the day of remembrance. we'll take you there when it happens. it begins shortly. look at the market straight up again, 224 points higher. we tched 21,000 a little earlier. we're less than 200 points away from the all-time record high for the dow industrials. the nasdaq composite, another all-time high there.

it is up close to 12% for the year and crossed 6,000 as of today. with technology on a tear, i have got netflix hitting an all-time high. i think, liz, and ash, that is because they partnered with baidu to get netflix stuff into china. liz: oh, yeah. they could double the subscription base. 94 million. stuart: i don't know whether netflix subscribe remembers allowed in china but their content can go through baidu. ashley: they will partner with baidu. liz: have a chinese audience. that is a big deal. stuart: somebody will pay for that. that's good. now this, president trump, he wants a tax plan that cuts the corporate rate down to 15%. clearly investors like it. have you seen that market today? joining us now is the author of, the great equalizer. he is a favorite guest on this

program because this man was in the room when the 1986 tax cut plan was hammered out. it really was hammered out according to your telling. i'm wondering if we need the same, prolonged time frame now to get anything done on the corporate tax rate, david? >> i think, this reminds me more like '81. getting a group into a room. it can be done relatively quickly. by the way the market in my opinion is up, not just because of the tax cuts. markets perceive a paradigm shift. they sense maybe washington will start working again. it is not just the corporate tax. it could be across the board. that's what is really going on. stuart: hold on a second. you are saying this market is going up. i think the market like as 15% corporate tax rate. >> it loves it. it loves it. stuart: and you're saying it is a real shift going on here

towards congress doing something? >> it reminds me, exactly. it reminds me of the paradigm shift occurredç when reagan fid the air traffic controllers. it was the green light for the american corporate sector to restructure. in this case it is a green light to say, okay, washington, let's see you tackle some of these problems. now get this one done, then keep going. the other thing i think is really positive about this, the fact the president pulled out of this border wall thing showed flexibility t basically said he is now beginning to understand that momentum is so important on capitol hill. having a sense of momentum, to getting anything done. and so if he had sat around for an ugly, shut down the government and gone through all of that, it would have killed any momentum for this tax program. so i think that is a positive as well. that is one reason the markets also is responding. but back to the '81, we sat in a room.

the key thing is to, is that the lesson from '81 for tonight, for this meeting tonight is, we sat in a room, and we made a mistake. we knew that the fed chairman was going to break the back of inflation. we had a stagflation problem as you recall but we allowed, because of the deficit warriors, we allowed the tax cuts to be backloaded. it was a big mistake, while we were breaking the back of inflation, we didn't have the fiscal stimulus fully in place. it was all backloaded because they said, got to be worried about the deficit. we have deficit and debt problem that is horrendous but austerity policies will not deal with it. it is breaking the back of the medical cartel. so i think tonight the president has to say look, there are three priorities. growth, growth, growth. we've got to get this thing going. stuart: i think, david, that the big meeting tonight, everybody will be there, senate majority

leader mitch mcconnell is going to be there and mr. mnuchin and gary cohn, congressional leaders, they're all going to be there tonight. i think the president lays down the law and he says, get it done. enough with the talk, get it done. right? >> yeah. and he also, there's one little detail that i think is very important, you should keep watching this thing. one of your guests said you can't get reconciliation, can't go through reconciliation without increasing deficit. that is not quite accurate. what happens the tax cut ends 10 years. one way to keep that from happening, to make sure this cut in the corporate tax rate includes small businesses, those that pay their taxes but not through the corporate schedules because it's very hard, let's say the disaster happens and 10 years from now, you know, president bernie sanders says

i'm going to roll back this deal. those tax cuts, we'll not renew them. it is very hard to do that if you're talking about the, you know, small business and start-up sector. so they have got include those with this tax cut. it could be, it could be not only explosive to the corporate sector, donald trump could be the start-up king. this could be very powerful. stuart: on the left-hand side of the screen our viewers are seeing the president arriving at the holocaust museum. he will speak momentarily. that is not the president yet. you will see him shortly. back to you, david, i want to summarize this. there is proposal we cut the corporate tax rate down to 15%. you think it will happen this year, do you? >> i do think, i do think it will happen, yes. stuart: okay but, it will be narrowly focused? we'll not get into cutting personal tax rates -- >> i think that will have to come later. i think it will have to come later. st is this year, personal tax cuts? >> i also think, i also think,

yes. i think they can make that happen. i think that the, on health care reform, the republicans and president should announce this tonight. everybody shut up. say nothing about health care reform at this point. don't promise anything. let the democrats, just hear silence, because, obamacare is not going to do well but don'tç look like you're happy about it. get to that when it happens. stuart: listen to this one, david, the white house thinks it will get 80% of the freedom caucus to support the new health care bill. that would put it over the top, wouldn't it? >> if that puts it over the top that is whole different thing. assuming they have the tuesday group. stuart: that means health care done, tax proposal done, not shutting down the government. that's a great week. >> i tell you if they can do that, it's a who different game because it's a whole compte packag it is basically the similar

package but really then comes down to the border adjustment tax. i think the agreement is that is probably not in the, that is so offensive so many of the supporters of the border -- of the freedom caucus and other conservatives, financial supporters i don't think that will be in there. that is the key as we discussed earlier. take out the border adjustment tax. there is a lot more of a chance this thing could fly. they also have to pull together the tuesday group. but if they get them, enough of them, i think, you know, we're talking, by the way, we are talking, you know, just the house. now it has to go to the senate and rest. that's why i still think having a separate track with this original plan with the corporate plan is, is, very, very important for the market,. stuart: but you think, for sure. thanks very much, david. look at the market right now. it is straight up. you're about to hit 21,000 again. right now, 20,999.33.

you're a couple of points away. that is quite a milestone i should say, 21,000 on the dow. that puts you, less than 150 points away from the all-time record high for that stock. technology stocks in particular are doing very, very well. a wells fargo shareholder meeting turned ugly. the stock is going up though. what happened at the meeting? ashley: shareholder began to press individual directors on the board of wells fargo to explain what they knew about the sales practices led to those, well, millions of bogus accounts. this particular shareholder refused to back down, forcing the chairman to call a recess. he told the shareholder to sit down. he refused. he said you answers are not good you enough. started to get vocal support from those in attendan cheering him. the whole thing came to an end. a lot of contention going back to the scandal of bogus accounts. stuart: the stock is up at $54

per share. ashley: right. stuart: next up, we're joined by a lawmaker who wants to make it easier for financially stable people like those who work on the varney staff to get a loan. he has a personal stake in this one. he has a plan. you will hear in just a moment. ♪ [phone ring] hi anne. so those financial regulations being talked about? they could affect your accounts, so let's get together and talk, and make sure everything's clear. yeah, that would be great. being proactive... it's how edward jones makes sense of investing. try new flonase sensimistgies. instead of allergy pills. it delivers a gentle mist to help block six key inflammatory substances. most allergy pills only block one. new flonase sensimist.