great guest today. a lot of trade-offs and pushing and pulling over the next few ka physical way, how this affects the deficits. there's a long road ahead. maria: dagen mcdowell, final word. dagen: mr. crews come if you cared about small business owner you would repeal the bono care. where is that? maria: have a great day, everybody. here is "varney & company." stuart: yes, dagen, yes, yes, yes. long live tax reform. this is the day the big tax plan is to be revealed. good morning, everyone. today we have a very act of political thing. along with the tax packages, middle income people to pay less. big companies to pay a lot less. top income earners may pay more. yes, there may be a new hire rate above the current dirty

926. that may be the character bringing democrat supporter. for the president, a got a gun issue. full-court press in a big speech tonight in indiana. in alabama, judge roy moore one. this is another hit for the republican establishment. after originally campaigning for his opponent luther strange. now this. two democrats have knelt on the house floor. al green says he will move to impeach the president over this issue. republicans are going to use mailing at the fundraiser down 11%. it is a wait and see market. a little change for stocks this morning will be up a fraction.

investors want a tax cut package. that is the focus. politics and money is what we do. "varney & company" is about to begin. ♪ >> together we can make america great. we can support the president. don't let anybody in the press think that because he supported my opponent but i'd do not support him and his agenda. stuart: okay, pretty clear. he made it very clear that he still supports president trump. the president did tweet this morning. here's what he said. spoke to worry more about libidinal essay for the first time. sounds like a really good guy who ran a fantastic race. he will help to make america great again. the president had originally campaigned for the opponent. a lot more on this later in the program. first up today is the big reveal

for the gop tax reform plan. i think republicans have no choice to get this done after the second desk of health reform. here's what we are hoping, three tax bracket, 12% from a 25%, 35% with an option for congress to add a fourth for top earners. the corporate rate would be 20%. joining us now, mike huckabee, former republican governor of arkansas. i was okay until i heard that about the new hire top rate for high income earners or that is clearly a move to bringing democrat support, isn't it? >> i guess they want to go after some of those top earners, people at her defenders, hillary clinton and elizabeth moore and all in that top 1%. they make their big money but it would be a big mistake. one thing to lead the tax alone for the people that top bracket. i can understand that. they are going to pay more anyway because some deductions lost. but to actually raise the rate

would be a tremendous mistake and would break faith with the voters who believe that everybody was going to get a tax break. stuart: but they might have to do it. i don't know the process by the votes they get, but if they need 60 votes, if it comes to 60 votes come you got to have democrat on the only way to get democrats are to tax the rich do more. >> there's another way to do it or not it's quickly in this ridiculous game when it got to get 60 votes. there comes a point when they are total obstructionists. people were like you to leave, cut taxes and if democrats are so intent on fleecing people out of the money they earn a decision about being charitable. this is taking money from people who went out and worked and earned it. if they can't get on board with letting people keep more of their own hard-earned money because they can spend it better than the people earned it, then a pox on their houses and let the democrats do in the rangers

are the republicans have got to deliver on this and if they don't, they all need to en masse resigned, go home and was just recognized that the republican party has essentially abdicated any responsibility for leadership. stuart: governor, i think they realize that. that is why i say this package -- i don't know about that. that's an option down the road. the packages outline. i think that passes because the republican party has no choice but to whether. >> they really don't have a choice. the problem is in the process of legislating. all this republicans senators and house members here giroux wants to go in the kitchen with his or her stood and a special spice. you just can't ever put something on the table in which everybody has got to be able to put their own little touch to it. so there's got to be some give and take. but somewhere, republicans have

got to step back, let the president take a the leadership role because he's the president, the only one who can set the table and say guys, it's got a look something like this and you have to come to the table with me. we are not going to spend the next 11 months or longer sitting around here, twiddling our thumbs and pretending they came here to change things. there will be debates about deductions, mortgage and charitable contributions of a lot of things. but the republicans not pay less tax than they are now. the republicans have worked themselves out of a job. stuart: governor huckabee, 100% agree right there. thank you, sir. appreciate it. see you again soon. abstain on tax reform. bachelor minutes with us now. his name is grover norquist. americans tax reform. to play six overview. what you make of this proposal

that there might be a new higher tax bracket for top income earners? >> two things. this is a proposal going to the house and the senate. it is true that they can do anything they want. they can put 25 raids on if they want. if there's going to be some suggestion here at three, what about for. that is awfully odd in 2003. president george w. bush cut the capital gains tax cut in the dividend tax. we have strong economic growth. four years in a row because the very serious tax cut targeted towards higher income people but give us growth for everybody. i don't think trump is worse than george w. bush, but this proposal comes up with that idea the idea comes across as weak as, bad economics and a lousy, lousy politics is not a single

democrat who will vote for a significant tax cut. they are not one. stuart: you're on the inside of politics. you know the republican party. from what you know about party in what you know of these three tax bracket than 20% corporations, you know the broad outline of the plan. does it pass? >> yes, yeah. they will all want to touch it and have hearings. i like series. i like the idea of discussing how are we going to have dramatic tax reduction and tax reform and democrats sitting on the site say we want to take everybody's money. remember, hillary ran for president promising, threatening a trillion dollars in net tax in greece. no one was going to get a rate cut. not businesses, not individuals, not one person, not one company in america was going to get a rate cut. and now she's saying i was really like the carbon tax idea. so, had the democrats been in

power in the senate and the white house, there's a lot of people thought might have happened, we would be moving in the exact opposite direction. the difference between the two parties is overwhelming. we should never get confused because the republicans can be cranky and a bad day in the senate and something doesn't pass. when you are when you get the cricket sound or two people. only two cranky people at a time. there has to be a limit there. we have an election in 2018. we need five or six that more republicans so you can have a cranky caucus in the corner and we can ignore them instead of having torpedo health reform or tax reform. stuart: 20 seconds. would you make of this elimination deduction for state and local taxes. i know it may be a proposal. what do you make of that? >> and you get rid of deductibility, it makes it easier to cut taxes at the local level. in the future, more difficult to raise them.

to taxes from obamacare haven't hit yet. what is the health insurance tax, other is medical device tax. we need to get rid of those so that they don't show up next year helped to get rid of taxes when they fall into place. they're simply not from congress failing to do the health care staff. stuart: i am not a time, but the bottom line for the interview as you think this tax package in its broad formal pass. got it. spin at very progrowth. stuart: you probably just raise the market. in fact today. we like you, grover. you come back sooner. look at dow futures, please. up 40 points for the opening bell today the focus is almost entirely on the tax-cut package. that is the story today. look at 90, please. they reported their slowest quarterly sales growth in months. seven years coming that will be down at the opening bell and novel way on the overall dow average. twitter with a new character account limit.

president trump is going to just love it. taking a shot at amazon, youtube videos for amazon. that by the way as the elect are right there. google says amazon has been violating the terms of service by showing youtube videos on the echo show. there's a class for you. looks like i'll be above process coming into the ratings. viewership down 11% from last year in directv says it's going to give refunds for its sunday ticket game package to customers upset by the of the protests. check this out, too. rodney heard, marine veteran, big indianapolis colts and so fired up about the protests he burned his full season tickets. he says the habits with disrespecting the player's flag. we'll talk to in the next hour. more "varney" after this. your lineup.

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stuart: plenty of news on the controversy. either way, futures up the opening bell today. it's all about the tax cut package. the stories that we are way for you on the nfl. nielsen says football ratings are down. directv to nfl sunday ticket packages. sheila jackson lee of taxes, both democrats took a knee on the house floor. again they are both democrats. congressman al green says he will move to impeach president trump next week. it's about time we heard from lou holtz, former notre dame football coach, always has a smile, welcome guest on the program. where do you stand on all this? let me back up. what would what happened. i suppose you told your team

players, you stand for the anthem and your star player sat for the anthem. what would you do? >> he wouldn't be a star player. it's that simple. you talk to the football team before the season begins. we are going to use this football team to promote any cause weatherby gun laws, abortion, anything else. if you are here, if you want to go protest, god bless you that you are going to do it on this football team. i think the owners of the coaches are getting a bad deal. let's look at it from the owners point of view. these are people who believe in this country, paid millions of dollars to be able to buy it. as a matter of fact, bob kraft had to put his name on a loan that he could not follow up on in order to buy the patriots. they love this country and the free enterprise system but they're also about winning and winning means that the locker room has got to be together.

in college i had all the time, locker room, dorm, training, study hall. in the prose you'll may have been in the locker room before practice and after practice and that's absolutely critical. they want to win and you have to be together. you have to have one organization focused on winning and that's all they're trying to do. i think they are making a mistake. come to realize it. stuart: my position is that the sport itself, the brilliant all-american football sport, the sport is taking a hit and that bothers me and i'm sure it bothers you. >> it bothers me greatly. the thing i ask is what is a player really want? i've never seen anyone come out on an interview with anything and said this is what we are really protesting. they are getting bad advice. i coached in the nfl. one of the most emotional things you do as a coach come you've

got a top 50 players a year right before the start of the season that your cut of you are going to make the nfl. i've seen them crying, their dreams come ambitions, it's no longer there. now they are there and they are jeopardizing it. because they don't come out and say you naturally have to sue. particularly in london. your whole country. a meal for the national lampoon. they stand for god save the queen. that must be a great song. stuart: it is a disgrace, lou, but that's another story entirely. barnstorming in indiana, that is mike pence and donald trump country, isn't it? >> yes, it is. i just got a note from vice president yesterday. did a great job. stuart: i almost called you governor. coach lou holtz, thank you. i am mostly the classic

foreigners in the state earlier. i thought it might have something to do with with basketball and with basketball in a straight man and said no, no, he's a football guy. i'm sorry about that, lou. >> hey, that's no problem. i've made more mistakes than you. stuart: not so. lou holtz, everyone. thanks for joining us. we appreciate it. stuart: i want to get more on the college basketball scandal and we'll have lou holtz comment on that in just a moment. we will get back after this commercial break. what else do we have coming up? basketball, back in a second. the bottom line is, for your goals, this is a strategy i'd recommend. huh. this actually makes sense. now on the next page you'll see a breakdown of costs. what? it's just.... we were going to ask about it

but we weren't sure when. so thanks. yeah, that's great. being clear and upfront. multiplied by 14,000 financial advisors, it's a big deal. and it's how edward jones makes sense of investing.

stuart: i'm sure you've heard about this bombshell allegations against the ncaa. one likes the university of louisville to $100,000 payout for one recruit and maybe $150,000 payout for another recruit. that could think louisville's entire basketball program. i know i made a mistake with lou holtz. i thought isn't a basketball it is a football guy. we brought him back to answer a basketball question. would you make of all of this? not big money offered to assist in coaches to steer players towards a shoe company. what do you make of this?

>> is extremely embarrassing for the ncaa. when you gain money, that's absolutely criminal. we establish a lot of cheating in football in the late 70s, early 80s because they were not to be involved. one from a&m, one from smu to recruit the athlete. they don't want to lose it to the ncaa got all the alums out. here it is with louisville. you have kentucky in the same state. a great basketball program trying to compete with them, trained to be the best. and you do that. i think they said it best. this is absolutely unacceptable. >> but it happens because the amount of money involved is so astronomical. isn't it? >> here's the difference between football and basketball. two or three athletes or three applets and or three athletes in

basketball or taken the championship. two or three athletes issued to a 500 season. stuart: got it. if you have any comment on soccer or cricket, we would like it. >> we have a long conversation on that. you are all right. much obliged to you today. this is the tax package day. this is the day we find out a lot more about what's coming down the pipe to tax cut. that is what is moving the market. we will be back.

stuart: it is wednesday morning and in about 45 seconds we will open the market and the key factor i do believe is the tax cut package. the details of which we will get looking for some of what's in this package around 2:30, 3:00 this afternoon, eastern time of course. a broad outline, 35, 25, 12% and a 20% rate for big corporations.

that is the very, very rough outline of the package. also the possibility of a new and higher tax rate on individuals to make a great deal of money. that is a proposal, which congress would consider down the road. that's the focus today. the tax-cut package. we are up at 9:30 on a wednesday morning. up 46, 47, 25. i'm not the track. yes, i did. we'll take it. the dow is up at quarter 1%. the s&p 500 up a third of 1%. the nasdaq all full of companies up half a percentage point. i rally across the board is not huge, but it is a rally. take a look at 90. the drag on the dow, a dow stock, slowest quarterly sales growth in nearly seven years. stocks on 3.5%. the big tax, in the early going

day i'll live. we have twitter and a rise in the character limit going to 280 for some users. back to $17 a share. optimism for tax reform with financial stocks like goldman sachs and jpmorgan an all-time high for what? food to thousands. an all-time high never been there before. the broadest of broad-based indicators of record high. got it. now who is with me on this auspicious day. ashley webster, elizabeth mcdonald, elizabeth peek and shai gallani. what's going to happen? >> was in a lot of profit the last couple weeks of tech stocks are financial to lead the market higher, looking pretty robust

this morning, but if there's a failure of the president follows the all-around, nothing is asked in the market will sellout. stuart: in the absence of that, we are up 69, 70 points. i will say the market thinks we are going to get it. liz: october is the worst month for the stock market. could be an october surprise if republicans don't get their act together and they continue to drive, that will be an issue for the market. stuart: liz peek on a key question here. there is a proposal in here to raise the tax rate on people who make a great deal of money. also a proposal to take away the tax deduction, which means the rich pay a ton more. >> wealthy people in states like california and new york will get five. they are talking about lowering the rate on the top bracket of 35% and putting on a surcharge. guess what.

top interns get hit with surcharges all the time. surcharge for obamacare, surcharge in new york city. those things don't go away. they are supposed to be temporary. they are not. top 1% pays 40% of income taxes in this country. top 10% pay 70% of income taxes. way more than proportionate share of income. that will not be a tax cut if it affects 70% of tax. stuart: and it won't stimulate the economy. taking more away from people. >> is this the way republicans want to get tax reform done, just another weaseling out by republicans frankly. i am fed up with the republican party effort on health care reform. if this is how they approach tax reform, a pox upon them. stuart: you are getting a lot of agreement. rough road to tech stocks lately. earlier this week in late last

week they are bouncing back a little now, but not back to the heights we saw last week. shai gallani, is it time to get back in? you've been promoting this -- not promoting, they say they're going now. >> absolutely, positively bullish. cautious over the last couple weeks, maybe a month and a half out of amazon, 145. we had a position and we looked below the certain models to get out. looking to get back in. stuart: back in amazon at 947? >> stay above that to get back in. stuart: microsoft is 73. >> microsoft hasn't done anything between 72 and 74 looks fabulous. stuart: are you new to the show? owning a sliver of microsoft. a quarter century almost. i think this whole issue about the tech shares beginning to

look a little wobbly starting with the iphone not doing very well. this is the stock goes up 44% before the new launch of these new phones. guess what -- stuart: 154? trade for around 15 times earnings. i think the expectation -- here is why. the expectation for apple are constantly incredibly high. >> a quarter trillion and cash on the balance sheet. >> in terms of being a value stock, we were very disappointed with the iphone acts. i was expecting a 10% bump in there haven't been. >> we understand the journal reporting the iphone acts or 10 has got another production to the facial recognition technology. that is going to hurt again. the apple launches doesn't connect properly. >> there's been no market reaction at this point.

you just broke up for us. the that works out in time now at 154. a couple of stocks, news on each of them. google are pulling you tube off the amazon .co show device. that's what you've got on your screen right there. to echo what the screen. ashley: alexa, show me the youtube video. currently google is not supporting youtube on echo show. youtube is the biggest source of video on the internet. it is huge. amazon is area saying how can you do this? you've chosen to longer make it available without explanation in notification to customers. to google's point, and they say you know what, you're using it in violating the terms of our agreements. these two are going head-to-head. youtube is a big deal for the amazon .co show because so much video is available through youtube that you take away that

source. >> all these realms, they are at each other, whether it's driverless cars or this kind of technology. kind of fascinating to watch. trade jewish areas. check her big board. the high of the day at 75 points. let's get back to 90. intensifying competition from adidas. nike expects a further drop in revenue taking on the chin. 4% lower at 51. the chipmaker micron gave been beat forecasts. i was up 6%. the fast food chains on it, their payment system breach may have hit millions of credit and debit cardholders. nevertheless the stock is up 10 cents. twitter raises the character limit. they are just testing it to 280 from 140 for some users. 2% higher. what is your comment, mr. trump? >> you again into twice as much.

>> is that better? on the screen, please. they are offering the technology to airline for better in-flight streaming. ashley: below broadband technology so you can sit on the plane it will make your flying experience better. really? i don't think being able to watch netflix on that i find experience better. it's up to the airlines whether they want to give it to you for free or charge it for you. not going to happen. netflix is already got deals with virgin america, already doing a smart move for netflix trying to get people into the binge viewing prior to his and maybe generate some our customers. stuart: it got me into binge viewing. ashley: on plans? stuart: no. you americans. americans pay $15 million in

these for bounced checks and overdrafts last year. $15 billion according to the consumer protection bureau. you are a money guy. >> that's a huge amount of money and it really doesn't take much to collect. some of the 2010 law changes disallowed overcharge and overdraft charges for atms because you can go to an atm. if you have an overdraft why does allow you to take money out of my charge you $35 for the overdraft fee. they get away with that in 2010. stuart: what is striking, almost half of americans with a checking account has been hit with an overdraft. and you can avoid it. that's the crazy thing. i do mean despite keeping her balance is in check, go into a bank that doesn't have them. stuart: million dollars in your checking account and you'll never have a problem. around the block, real fast, 10

seconds here it is this rally up 70 points, the result of the market faking from the tax cuts are coming. >> yes. ashley: absolutely. stuart: we are doing all right. thank you very much indeed. all good stuff. check it again, up 76 points now it's 77-76. had the day thus far. the dire situation in puerto rico still without power. medicine shortages being reported. president trump will visit next tuesday. in the next hour, i'm talking to puerto rico's governor. i want to know how much money does he need to rebuild the island. it's going to be a lot. we will be back in a moment. that college experience that i had. the classes,

the friends, the independence. and since we planned for it, that student debt is the one experience, i'm glad she'll miss when you have the right financial advisor, life can be brilliant. ameriprise ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone

train to new high of the day

coming out 86 points. the market appears to believe that we are going to get a tax-cut package. we'll have the details later this afternoon. how about this one. ford motor company is going to test self driving cars with lift, the big competitor to cooper of course. nicole, street me out here. isn't lyft partly owned by general motors? >> yeah, they have all kinds of alliances not only with general motors coming i was a big one no doubt. about $500 million. you're right on the money. they also deals with jaguar, land rover, among others. this deal they are working with with ford is so forward-looking, the ceo jim hackett once you have fully account of his vehicles. they drive by themselves on the road within four years and as i read it, my jaw dropped. no steering wheel, they were. no paddles and no need for a human driver.

by getting into a trolley. >> where is my lawyer? i'm not sure about it. i'm just not sure it's going to be as big as they think it's going to be. >> stepping on the gas. stuart: yeah, really. ashley: aegina key on the back you can wind out. >> i want to get it back to tax reform. david smith was in the room during the discussion about the reagan tax cut, the great tax cuts of 1986. he was right there in the middle of it all. you saw the coming and going, backwards and forwards. with that experience under your belt, fast forward to today. what's going on in the room today as they discuss these tax-cut and will we get them? >> let me ask you this, do her. you are not wearing a sidearm argue because i don't want you shooting up the studio.

these british ex-pats. stuart: i am an american, okay. >> well, i'm an optimist usually, but this is a 6040 shot in the house and probably 50 to 48 in the senate. what they are sitting around talking about now is today is the easy part, announcing the tax cuts. you will notice the details about what loopholes are going to be closed and it's going to be a real challenge in the senate because you have the same three republican senators who have resisted health care reform are going to probably house problems with tax reform. that means this whole thing centers on three conservative democrat from west virginia, north dakota and indiana who refused to sign a show where no republican thing. it really comes down to them. stuart: what about this suggestion we are hearing about of a new and higher tax bracket for upper income people.

that would be taxed the rich. that would bring some democrats over, wouldn't it? >> what they are going to do, that's a giveaway. they are going to propose the same giveaway to these democrats the fourth bracket or add a fourth bracket or just keep the rate at 39%. that is how they are going to try to buy off. there are a lot of things in here. the elimination of the estate tax and other things. i think what is interesting is going to be the handling of the state and local, particularly a lot of your viewers say what are they going to do about this? that's where there's going to be a giveaway, too. i think at the end what they are going to say is that this is technical, the doubling of the deduction helps people at the low end in those days new york, connecticut, high tax date. but also, we tend to put a limit

on the deduction. do as they can deduct up to $6000. that's why i say don't shoot the messenger. they will have to do a lot of dealmaking because at the end of the day they really can't address these republicans. and then you also have, you know, the senator from tennessee who just announced -- is a good guy, but he is a deficit guy and i think he's going to watch this closely. stuart: i just want to put it like this you to get some democrats support, which may be necessary, to get the democrats support in the senate, you have to make high income earners pay more. by either getting rid of the deduction for even local taxes are keeping the tax bracket at a high of 39 points six through the rich are going to pay more. >> i think the price will be not pay more, but the price will be not get a tax cut. not get a reduction.

unless in fact you happen have another good account and then in that case you've been paid or denying. you are basically -- i think they've reached a point where they know they cannot have a tax-cut for those at the higher income. a lot of this determines where the thresholds come in. where do you apply that income? it's a lot of details. i'd bet, you know, 52, 48, but not in 80% deal. we also have a deal with the house freedom caucus because this race in alabama basically said politically the president is a little bit of a paper tiger, so they are probably a lot less fearful today than they were week ago. stuart: we are glad we had you on the show. great guy. >> where's the hook? dream to use spelled out the way you see it or not so good. thanks, everyone.

check the dow 30. it's about an even split, winners and losers in the dallas elf is up 73 points as we speak. more on the 10 ncaa assistant coaches charged in a fraud probe. hundreds of thousands of dollars paid out to recruit players. i want to know, why is that illegal? judge napolitano next. ♪

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go long™. ♪ stuart: well, do we have breaking news for you. university of louisville has decided to fire head coach, basketball coach rick pitino. this is all in all full from the corruption scandal. ashley: was, although louisville was not mentioned yesterday when the charges came out. wenders and they are under investigation. a tweet from an anchor at espn says louisville expected to fire rick pitino fired after his the scandal. we will have to wait and see, but this is a huge development in this i'm going to have basically following of money to in length young high school basketball's hours as to who they use as financial advisors to agents or what school they go

to. stuart: i know this guy. i don't know how messy person, but i know his position in the basketball world. judge napolitano in this. the question to me is -- backup at second. you have a case where it's quite possible, even alleged that agent or shoe companies paid an assistant coach a lot of money to steer like it's going to be a star towards the shoe company were towards that agent. why is that illegal? >> it is illegal because the victorians, forgive the phrase, stuart, who wrote the law want to tell other people have to live in a think there's something wrong with that. in the free market world, there should be nothing wrong with that. this is not a point shaving scandal. this is not a case where they fix the outcome of the games though they could illicitly bad on the game knowing what the outcome would be in take money from the other batters.

this is inducing a player to go to a school in use by financial inducement. if i won a scholarship to attend princeton 100 years ago, they paid me to go there. is that wrong? why is that right and paid an athlete to go to a school not right. trade do it breaks ncaa rules. trade to ncaa is a voluntary organization. we are talking about a federal prosecutor in new york city. the financial capital of the world who should have a lot other things to do with the fbi agents and federal prosecutors who worked for him than worry about what kind of high school kids. stuart: what is the legal case against doing now? what crime have they committed? >> my view? the crime that they are alleged to have committed is offering someone of value to attend a

university that achieves more than $10,000 a year in federal aid. once the government gives the school of money, there is always the strings not to do certain things. this story changed since i walked in because i did not know about pitino. i too know and admire rick pitino and have met him many times. he has some baggage from some prior scandals. should a person be fired because somebody else has been accused of a crime? that's what's happening here. stuart: contentious stuff. thanks very much indeed. puerto rico, most of the islands are without power. 42% have no drinking water. the governor of puerto rico will join us momentarily. the marine veteran who burned his season tickets to the cold. he's fed up with a handsome protest. he joins us next hour.

you are watching or you will be watching our 20 "varney & company," which is three minutes away. . . . .

stuart: most liberals don't much care for football. it is too masculine, too brutal. the left jumped on the anthem protests turned them into an opportunity to display their anti-trump sentiment. that is what is has become. look what happened in congress. two house members took the knee. democrat, pokan, wisconsin, sheila jackson lee, texas. both made the kneeling a anti-trump demonstration. al green, texas, he went further. he said president trump's comments on the nfl were indecent. he is pushing treatment. football used to unite all races, political points of view, all races, playing a thrilling american game. not now, the left is using identity politics to encourage

division, pushing its own agenda. the game is suffering. those who love the sport are turning away. tv ratings for first three weeks of the season down 11%. interesting, pregame ratings are up. people tuning in before the anthem protest but turning off when the protests begin. what we're seeing referendum on president trump and his view on america. we don't get to vote. the left demonstrates, media spins, nfl retreats and great american football takes a hit. last word, it is not over. if ratings keep falling and sponsors take money off the players table, teal owners and the nfl will have to change course. then maybe we can get back to watching football, not politics. the second hour of "varney & company" is about to begin. ♪

stuart: not quite as high as we were, but we're up 64, 65 points, at 22,349. big tech stocks all of them on the upside. a nice bounce after their losses late last week and on monday. but we're bouncing back. tesla, on up side. analyst at morgan stanley said number of teslas, cars on the road, is going to skyrocket. then we have nike, feeling heat from adidas, forecasting perhaps lower volume in the next year, down 4%. the price of oil is around 51, no it has gone to $52 per barrel. see what happens when we get amount of oil in storage. those numbers released at 10:30. get to puerto rico. president trump will go there next tuesday. joining us on the phone, jennifer bonds -- colon from

congress. are you getting what you want? getting what you need? >> we talked to president trump yesterday. he made a solid commitment to do that my members from the congress yesterday, were sponsoring that too. i got a meeting with vice president mike pence yesterday, yesterday afternoon, senator marco rubio and also with senator. there is commitment to approve new relief package for the hurricanes. that includes puerto rico directly. we need that money directly. as you may know puerto rico was in dire economic situation before the storm. and after that, we received a hit of irma. now the hit of maria. so we, we do need that money, even for removal of debris, for supplies. stuart: ma'am, can you tell us how much money you're going to

need? i mean, you're bankrupt to start with. now you have taken a hit from a couple of hurricanes. how much money do you need, do you think? >> local government is making that assessment before we speak. stuart: look it, you're in a dire situation, we got that. obviously people understand this. are we talking tens of billions of dollars? i need -- >> definitely. definitely. stuart: definitely? >> definitely. because we're talking about, look, only the money, for, rescue, and maintain current situation, but, for restoring and repowering the island. the whole power is out. so, all of the transmission lines are on the floor. so you need money to restore that kind of infrastructure. same thing with water. we're just having 40% of running water, in most of the areas. you will need money for restore bridges, and highways and roads.

that were washed away of rivers and flooding from the hurricane. right now people are crossing, by the river, just to get ahead or access, some services. you got the hospitals that were hit directly, from 69 hospitals, they are crippled. they're working to full capacity with generators. so that kind of -- stuart: jennifer, forgive me for interrupting. i do understand, you're in a dire humanitarian crisis there. it would seem to me, that, maybe you need the american military more than anything else. i mean they are in a position to build things and get things done very, very quickly? >> actually, they are there already. we got more than 10,000 federal employees from the army, navy, doing the job, fema. not only now. they were there before hurricane irma, during, irma and after irma. same thing with maria.

so that amount, we're having 4,000 deployed people there. now there is 10,000. there is more coming. 16 new teams and barges are coming to the island. one of the main problem our airport infrastructure, we still have not working at full capacity. stuart: we can stack up your problems from end to end. you are indeed facing a humanitarian crisis. jennifer gonzalez-colon, thank you for being with us this morning. we understand what what a dire situation you're in. >> we're asking for billions of dollars to restore infrastructure. stuart: thank you for being with us. >> thank you. stuart: i have more on this, the fda is warning puerto rico could face critical shortages of life-saving drugs in their current situation. what is this about. ashley: turns out there are many drug manufacturing operations in puerto rico. some of the biggest drugmakers in the world, astrazeneca,

glaxosmithkline, amgen, abbvie have operations in port rico. not only shortage of people needing drugs in puerto rico and in the u.s. and across the world. we're talking about anticancer drugs. anti-rejection drugs for organ transplants, diabetics. fda says there is could be a big shortage of drugs. we have heard from amgen and abbvie, they're still operating. they're operating okay, but the fda may think about getting in there and transporting themselves, trying to get some drugs transported to the u.s. u. mainland. stuart: what a situation. you have to feel, three million americans. water shorage, you can imagine, the heat index in puerto rico.

100 degrees. ashley: no air-conditioning. stuart: no air-conditioning. that is bad news. liz: if you have no electricity, it affects water. back to the editorial i delivered at the top of the hour. my suggestion that the nfl protests are essentially orchestrated by the left which has its own agenda in mind. come on in fox news contributor steve cortes. look, this is a business story. nfl ratings are down. directv offering refunds to customers who canceled because of protests. i think the left is fueling this. am i out on a limb with that? >> no, you're not out on a limb at all. you're exactly correct. tell you, stuart, i am the perfect customer for the nfl. i played and coached football my entire life. it is huge part of my life. for first time since i was a toddler, first time in decades i didn't watch one minute of the nfl. i was so disgusted with their behavior and disrespect not just for the flag and our country and everything that flag represents.

i think i have a lot of company. i'm not only one apparently who stopped watching. stuart: rush limbaugh came on and said, he said look, football has lost its, i think he used the word its shine. it lost its joy. it lost its joy. what do you make of that? >> he said it lost its mystique, the nfl, which is has unfortunately. the game has not, by the way. college football, high school football, "friday night lights" is fantastic. that is part of the fiber of america, our society. sadly the nfl has, i think gone out very, very far on a limb here. has disrespected america. disrespected cops. disrespected military. thankfully it will pay a financial price. this is important, stuart, not just in terms of present customers. this is also a league, organization which is receiving erecall no must amounts of corporate welfare, frankly from the american taxpayer, which i think is despicable. for example, heinz field, the steelers played, the steelers who refused to come out for the

national anthem, heinz field, majority of that funding for the field, $170 million was taxpayers of pittsburgh and pennsylvania. i hope in the future we are done with that nonsense. we should have been anyway. particularly now. stuart: when owners, or the nfl or the sponsors, when they get hit in the wallet, because of withdrawal of viewers and withdrawal of people interested in football, at that point you see a change. i think that change will come right -- relatively quickly. i don't know how but do you agree with that? >> i do agree. nfl owners are for the most part, incredibly successful, self-made business people. they get it. they are mostly entrepreneurs. they're moguls of american industry. the quickest way to get message, hit them in the pocketbook. stuart: well-said. steve, stay there please. i want more a bit later. i have items beforehand. the biggest gem found in a century. ashley: wow.

stuart: 1100-carat diamond, it is big, sold for $50 million. found in botswana, africa. liz: are your wives watching? stuart: ouch. fans burning their jerseys, one fan going so far to burn their season tickets. the man a colts fan, will join us later this hour. today the president releases tax plan, at least the broad outline, dropping corporate tax rate, simplifying tax brackets. he will need democrat support maybe. will he need democrat support to get it passed? the most interesting question of the day. you're watching second hour of "varney & company." ♪

stuart: we lost much of the rally. we were up 86. now we're up 26. we're still at 22,300. do look at apple. "the wall street journal" now reports that there are supply problems with some of the facial-recognition technology in the new iphone 10 as well as connectivity problems with the new apple watch. apple's stock stalled at 154. i want to get back, i will call it a bombshell item of news from the last hour. university of louisville reportedly decided to fire head coach rick pittino. ashley: that could come as early as today. part of the corruption and bribery scandal involving assistant coaches at prominent schools. pick pittino is the most prominent but kruk person at auburn university. money buying influence, where young high school star basketball players, sign with

financial advisors, agents, what schools they go to. all about kickbacks to guide young athletes to certain individuals or certain institutions. rick pittino. we haven't heard anything from louisville. but a anchor at espn is tweeting about. athletic director tom jurich could succomb to the charges. we'll have to wait and see. possibility being raised. liz: rick pittino's attorney put out a statement, that the charges come as a complete shock. stuart: even i know about rick pittino. white house and congressional republicans unveil a big tax plan later today, mid-afternoon. broad outline is this, three tax brackets, 12%, 25%, 35%. congress will have a option to ad a fourth bracket for high income earners. corporate tax rate, corporate rate, what we hear. senator john kennedy, republican

from louisiana. senator, this appears there is this suggestion that we pile on taxes on the rich in various ways in order to get democrats support for this package. is that going to be necessary? how do you feel about it? >> i don't believe making tax policy on the basis of class. i just think that's a dumb approach. what i have advocated, this would be both good for the american people and good for the economy, the genesis of most of the anger in america is we have too many ordinary people not participating in the wealth of this country. would i start with the middle class. i would do it by doubling the standard deduction. stuart: that is in the plan we understand. >> yes. there is a lot in the plan but i don't know it will stay there, stuart. that is what i'm worried about. stuart: idea of increasing tax rate of the rich, cutting deductions for the rich, do you support that? i mean if -- republicans haven't got the votes for a clean cut

tax cut. you don't have the votes. so you have to do this to bring in democrats. >> i have never believed, let me put this way. i agree with marco rubio. he often says you don't make the poor richer by making the rich poorer. that is exactly right. i want everybody to get a tax cut. i want every business to get a tax cut. i want every taxpayer to get a tax cut. i want to start not, just be exclusive, start with the middle class, with the standard deduction. that's the cleanest way to do it. if you're making 70,000 a year, you and your wife, you take a standard deduction, you file jointly, you're paying about 3500 in federal income tax. now you will only pay 1700. so that is an extra $2,000. i want to help, i want to lower all brackets. on the business side i want to help large c-corps, pass throughs, the llcs, the

llps, the subs-corporations. i want to help everyone. i don't want to get bogged down on the basis of socioeconomic class. it is a sucker play. stuart: do you have the votes in the republican party, for the kind of tax package that we outlined? three brackets, drop it for corporations? >> we better. now i'm not going to ever tell my colleagues how to vote. they should vote their conscience, and they should follow their heart but they ought to take their brain with them. we promised this to the american people. we have failed twice on health care. which i am very disappointed in. there is no margin of error here. the economy needs it. and frankly our political party needs it. we need to do tax reform. we need to do it by november. we need to make it retroactive to the first of the year. we need to work nights. we need to work weekends. we need to do whatever it takes.

and there is no, i have, i mean i'm frustrated. i'm tired of screwing around, stuart. we made a lot of promises to the american people and by god, we need to deliver. stuart: senator john kennedy, tells it how he sees it, we appreciate that. republican from louisiana. thanks for joining us. >> thanks, stuart. stuart: yes, sir. the dow industrials are up 25 points. we have lost much of the rally. tough tell you, in our next segment we'll talk to the governor puerto rico, right after this. millions of you are online right now,

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across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. stuart: we have, momentarily we were going to the governor of puerto rico. we just lost the connection with him. we are trying to get him back. we have other news for you today. how about this? saudi arabia has agreed to let

women drive. liz? liz: yeah, this is a cultural revolution. the real war on women is in the middle east. this is a backwards, oppressive kind of regime still in place when it comes to the half the country, women. it was an embarassment women were not able to drive without a male guardian giving okay. saudi women can not marry, divorce, travel, get a bang account, or a job without a male guardian's approval. that is a fact in saudi arabia. stuart: thank you for that update, elizabeth. i can tell you how you feel about that. we have the governor of puerto rico with us, ricardo rossello. we heard from jennifer gonzalez colon, that the island will need tens of billions of dollars to get out of this crisis. can you confirm that number, sir? >> certainly that is true, likely going higher. because the level of the

devastation is significant. this is historic in nature. it is the, you know, we had put it into context two category 4 or 5 hurricanes pass through our island, essentially span of two weeks. it impacted the whole of the island. there is not one place in the island that is not severely devastated. yes, this will be significant. stuart: we may have just lost the governor there. it is tenuous connection. we all can understand that on an island with no power, or not much power. ashley: right. stuart: i understand the difficulty making that connection strong. but the governor did just tell us, essentially we're talking tens of billions of dollars to rebuild and in this catastrophe in puerto rico. ashley: the airport is a critical area. they have -- they're trying to get as many supply flights in as they can. three of the four radars are

approaching in san juan airport. when they approach they're on radio contact only 30 miles out. that really slows down amount of planes to get in and space between planes that is slowing everything down. of the just another example what the storm has done. stuart: extraordinary situation for 3 1/2 million americans. extraordinaire thing and our heart goes out to them. ashley: yes. stuart: the president unveils his tax plan mid-afternoon today as the republicans huddle to make a compromise on taxes. we're on that story as you might expect. still to come, colts fan who is a marine torched his season tickets, that is not the right shot. that gentleman will be on the program shortly, please. ♪

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and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ stuart: in terms of the stock market, holding a narrow lead, 22,300. by the way the focus of attention today for the stock market is clear i the upcoming speech on tax reform by the president, details, broad outline of the tax-cutting plan. it is 10:30 eastern time. i believe we have latest numbers how much oil we've got in storage. liz: yeah. look at oil moving down. 1.8 million barrels. that is way more than expected. they thought they would be 3.2 million barrels up. now it is down. we used a lot more. stuart: demand demand for oil strong. up goes the price. $52 a barrel as we speak. do we have the big technology names please.

let's see how we're going with that. crude at 52.10, no, we can't get them. liz: that is 26-month high. stuart: floor manager austin, you got them we see. they're all up. facebook, amazon, microsoft, apfa bet, apple up today -- alphabet. the tax plan will be unveiled today. here is the broad outline we're expecting, okay? three tax brackets, 12%, 25, 35%. congress will have a option to ad a fourth for very high income earners. and the corporate tax rate at 20%. david williams, president of the taxpayers protection alliance. all right, david, what do you make of this plan, this proposal that we're hearing about, for a new and higher tax rate on very high income earners? is that the price we're going to have to pay for a disunited republican party which needs democrat support? is that it? >> good morning.

i think you're right, this is the price to pay. i got to tell you this, is like christmas morning for me because we're talking about individual tax reform, corporate tax reform. this is going to catapult this economy at a stronger pace. so this is exciting. and if that is the price to pay is to have a fourth bracket, you know, i'm almost inclined to say go for with it. what is happening with the rest of the tax code is revolutionary. if we lower the corporate tax rate, to 20%, we will be competitive with rest of the world. at 40% right now, we are not competitive. we have won a race to the top. highest corporate tax rate. let's try a race to the bottom, stuart. see what we can do, and lower corporate tax rate. see what businesses come back to the country. it is very exciting. stuart: i have to come back to tax the rich, however. i know you're laughing, but look, if you raise the tax rate on very high income earners, and you also cut that deduction, which high income earners get

for the state and local taxes, you do both of those things, you're taking a lot more money out of the rich, and you're concentrating taxation in the top, what, 10, 15%. they will pay for everything. that is not a very good system. >> no it is not. they don't have to do this. they think they have to. but republicans don't have to do it. with tax rye recall to what you're doing -- reform, you're getting to two things they want, time and money. democrats need to come on board. not because raising taxes on the rich. take that off the table. giving people more time and more money what democrats should be embracing. that is what tax reform does. let's back them into a corner and say, you don't want people to have a simplified system? you don't want people to have more money in their pockets? that is on you mr. democrat, mrs. democrat. take that back to your people. stuart: you can back the democrats into a corner, what you say, but you have to rely on

unanimous republican support for the tax papackage, i don't think at the moment you can. >> in the house you might get this passed. in the senate, someone like senator manchin, he might come on board with this. because he has to look what his state does. so you may get moderate democrats coming on board. stuart: only if you tax the rich some more? >> i don't agree. i don't think you have to tax the rich to get the democrats. maybe i'm way too optimistic or eating way too many wheaties this morning, but i think it is possible to get a few democrats to come to our side of the tax reform aisle. stuart: you're enthusiastic here. you're positive. you think it is one of the greatest thing since sliced bread. best tax reform since 1986, that is your position. >> absolutely is. last time we had tax reform when they invented white bread. it has been that long. look at the market, stuart. we'll see the market take off this afternoon, when trump and

republicans talk about the corporate rate, the individual. so this is just, again, i can't contain my excitement right here. stuart: well look, the market with do very well, if it looked like we will actually get this kind of a tax-cut package. but we started out this morning with a gain on the dow industrials of 85 points. now we're up six. how do you explain that? >> well you know, a few fluctuations here and there. let's see what happens after 2:00, 3:00, when trump makes his speech. i want senator schumer's constituents to think what he is doing blocking tax reform. think about what exactly he is trying to accomplish this. why i think it will backfire on the democrats. this is something, look at latest poll numbers, and people across the board they want this they want to get the irs out their lives. they want more money in their pockets. this is what it is all about. we've had the discussion for years. we have people in place.

no more excuses not to pass tax reform. stuart: we hear you. david williams. thanks for joining us. we'll see. all right. last night, there was resounding victory for roy moore in the alabama senate runoff race. moore took 55% of the votes, to 45%, he got a 10-point advantage over senator luther strange. senator trump backed strange. joining us eric beach, chair of the great american alliance. eric, you support roy moore, big-time, got it. but roy moore opposes gay marriage and known for refusing to remove a 10 commandment statue. regardless whether you like those principles or not, that will not fly in the rest of the country. it adds to the split in the republican party, does it not? >> no, it does not, i disagree all together, stuart. thanks for having me on your show. i support the movement. i think the movement here, donald trump ran on some core

issues really being ignored by the establishment community. one was securing the border, building a wall. two, making sure we have better trade policies so we don't have unfair trade balance. three is u.s. job creation. there has been under current and deterrence by the mainstream establishment both on the right and the left on that agenda. i think what roy moore demonstrates that trump coalition and its agenda is bigger than we think. we need to start understanding that, making sure we elect those type of candidates that can reinforce it. stuart: now roy moore would not have supported the obamacare reform bill, either of them. he was not in favor of either of them. doesn't that -- that is a split republican party. look, if the republican party can't get obamacare fixed, you know you're in deep trouble here. >> sure. but, look, donald trump did his job as president, brought it to the table. we have, we have, congress and also the democrats who have done

nothing. do they really want to stand by failures of obamacare over the last seven years? you have a certain amount of, elitist republicans again, deterring this agenda. what judge moore does demonstrate is that he understands that illegal immigration and bidding the wall. he does agree with the raise act. there are things part of trump coalition agenda, not necessarily part of the mainstream agenda he does support and endorse. we look to follow him in that regard. stuart: would he support tax increase on upper income earners? >> he might. again, this is something that you know, when donald trump ran, you're looking at some policies right now being implemented by paul ryan and mitch mcconnell and others in the republican senate, were not talked about during the campaign. tax reform was issue number seven during the campaign. what i want them to talk about, what the trump coalition agenda was doing. when will we start building the wall. i want them to start talking about u.s. job creation.

look, markets followed. your last guest talked about markets going up because of tax reform bill but at least the rhetoric. it is going up, thousands of points since donald trump was elected. people know these are america first policies. what we want to do, we want to look for senators and house members that will start thinking about america first, putting those policies first. not globalist type of policies. stuart: by the way, eric, i believe construction began today on a prototype for the wall actually. so in reference what you just said. i think they started building this thing today. >> it's a great start. last night was a great start. stuart: okay. eric beach, thanks again for joining us. >> see you, stuart. thanks for having me. stuart: oh, no, don't tell me. another big data breach -- this is hamburger chain, sonic, apparently got into the their credit cards? ashley: this is drive-in fast-food company. they have 3600 locations, 45

states. they're not quite sure how big the breach is, apparently people that track these things, there are dark underworld stores to buy stolen debit and credit cards, 25 to 50 bucks, can you believe, depending how good the card is. amex platinum, you can spend 100 bucks to buy it, on the dark web, as they say. what they have done, people who follow the things say there has been a whole bunch of cards being sold. common denominator. they used at sonic. that is how they found out. stuart: that is fascinating. ashley: yeah. there is actual place called jokers stash, who knew this, to buy stolen credit cards. of course they get canceled eventually, but people can do a lot of damage in short amount of time with the credit cards. stuart: this is true. what a story. another breach. ashley: sure. stuart: check this out. actor jim belushi listed his italian-style villa in

california, near brentwood, $13.5 million. it has six bedrooms, 11 bathrooms. he put it out there at 42 million. he dropped it to 38.5. we teased it all show, the former colts fan who burned his tickets. ♪

ashley: now it is under tax reform. grover norquist, champion of tax reform have no sphere, it will pass, more republicans still need to be elected in 2018. roll tape. >> had democrats been in power in the senate and white house, a lot of people thought might have happened, we would be moving in the exact opposite direction, the difference between the two parties is overwhelming. we should never get confused because three republicans can be cranky on a bad day in the senate. then something doesn't pass. we need crankiness down to two people. only two cranky people at a time. have to be a limit there. and we have an election in 2018. we need five or six net more republicans, so you can have a cranky caucus over in the corner. and we can ignore them instead of have them torpedo health care

reform

stuart: it's a wait and see market. wait and see what turns up in the tax package this afternoon. we're 16 points higher. 22,300. the guest we're all waiting for the man who posted this video on facebook, showing him burning indianapolis colts season tickets after several colts players kneeled during the

national anthem. that is rodney heard, a marine veteran, he is on the show. rodney, tell me the moment, that you were going to burn those valuable tickets? >> hi, stuart. thanks for having me. i went to the game sunday, the colts hat not been kneeling. and we saw, all the fans booed but we saw about 10 of them kneeled down. and i was, so angry i couldn't even stay for the whole game. stuart: well you burned your tickets? do you wish you hadn't? i don't think you can get your money back? >> more the principle of the thing. both my grandfathers serve in the military. during world war ii. which in fact when they entered that war they didn't even know, we had no idea we would win that war. so, thousands of people died for our freedom in a, i don't think it is much to ask for people to stand you and honor those that died so we can have that freedom. stuart: if you were in in the

stadium when players took the knee. what was reaction of people around you. you were angry? what about the rest of the crowd? >> most everyone booed. it is offensive to most americans. stuart: is there anything that will get you back to a colts game? >> i'll tell you, if the colts stand for the national anthem and they work out their disagreements or their, their protests in a different manner, i would be happy to donate that money to help them get that message out in a different way, the money for tickets and, i would consider coming back next year. i have always loved the colts. i love the nfl. always respected those athletes. so i just think they should respect, do the same to respect the people that have died to give them that freedom. stuart: sorry to ask a financial question, but how much did you pay for the tickets which you have now burned? >> oh, gosh, it was over $4,000.

stuart: oh. you're a man of principle, that's a fact. can't you get that money back anyway? appeal to the colts management, do you think you get i back? >> i think it's a matter of principle. i want the seats to remain empty for as long as colts players decide to kneel. stuart: wow. you are a man of principle. we appreciate that. rodney heard, thank you for joining us. marine veteran. >> thank you, stuart. stuart: thank you, sir. like the man. ashley: yeah. stuart: new numbers show americans are paying billions of dollars each year in fees for bounced checks and overdrafts. how much money are we talking about? liz: 15 billion bucks. nearly half of americans with checking accounts have been hit with an overdraft fee. the federal reserve tried to say to banks, you have to do a better job telling your customers they have, there will be a overdraft. would you think that when you get an atm slip, it should wait a second, you're coming near zero. stuart: you would think,

wouldn't you? >> $15 billion, big chunk of money banks are making. stuart: that is great deal of money. remind of extra baggage fees. that runs into billions of plural, dollars for the airlines. ashley: don't get me started. deep breath. stuart: okay. liz: heart, blood pressure up with nickel and dime fees. stuart: look at this. the dow industrials are up only two points of we've been saying all morning -- ashley: this is wait and see. we'll get details today. but the proof of the pudding is eating, getting this thing passed and how much do the republicans give up to democrats to get their votes? liz: proper quote nation in the tasting, proof of the pudding. the republicans have to get their act together, get a plan. get behind it. stop squabbling. stuart: i think the market is waiting to see if they can do it. i this jury is out after the fate on health care. ashley: up to now they are not

exactly encouraged. come on. stuart: any moment that thing will turn negative. if that market decides this package ain't up to much, that market i would imagine goes down. ashley: i think so, we will get new tax details by the way at 11 this morning. that is ten minutes away. we'll be right back. the military family, and it really shows. we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before we called the police. usaa was there hands-on very quick very prompt. i feel like we're being handled as people that actually have a genuine need. we're the webber family and we are usaa members for life. usaa, get your insurance quote today.

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>> americans are upset, you know. doesn't matter what issue you're talking about. it is foundation of everything that we've built here. i know i'm pretty damn proud of where we have come as a country. we all need to take a look around and look at the freedom we've got. i'm disappointed. stuart: in case you missed it that was nra spokesman don rasso which he appears. defends the anthem after the protests. a lot had real strong reactions. this from jessica. players who kneeled, need to be fired immediately. they are a traitors. i disagree with that entirely. not a time to label people traitors. it is not apparent. juliet, way past time for the nfl to build their own stadiums and expenses. they have bitten the hand that feed them. well-said. steve, protesting is an american right bought and paid for by

american patriots of our past. we should never try to prevent others from expressing themselves. that is what the left does. now what do you make of that? ashley: wrong, wrong. because i think, i understand, when he says absolutely, everyone has the right to disagree and protest. they're picking the wrong platform. why don't these players make their points in personal life. don't do it dressed in the colors of a team they represent or company they represent and a flag and national anthem of the country they supposedly, you know, love? i think it is the wrong platform. that is the problem here. stuart: with you 100%. liz: i agree. we had athletes in the past, you know, express their free speech rights. muhammad ali. nobody bee grudges that. -- begrudges. that is what the flag represents. ash is right, we never seen athletes do this, national anthem, the flag is displayed. we're seeing now, this could violate the nfl owes own personal conduct rules, right? supposed to inspire confidence

in the game and game operations manuel as well. stuart: look at some point this has to end. i think it end when the nfl gets itself a backbone. and enforces its rules equally among all. liz: i can't stand use of word racism to smear people. that is so lazy and ignorant. stuart: that is last word. a good one. thanks, liz. we will be back, everyone. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone

: . stuart: i do believe that there comes a point where politicians who stand on principle fail to get things done. if you go for purity alone, you get nothing done. an obvious case in point is the republican failure on health care, and the obvious candidate for high principled failure is senator rand paul. at the "wall street journal" writes today, he helped kill the first obamacare replacement because it did not repeal every last footnote of the obamacare

law. the senator stood on principle, and now obamacare is still with us. high principle could not get enough votes. last night another high-principled republican judge moore won a runoff race in alabama. i make no comments on the principles but they are unlikely to get much support in the senate or elsewhere in the country. if elected to the senate, judge moore may become another high-principled republican who can't get things done. bottom line, the republican party is just not good at politics, but better learn how to play the game on taxes if they want to do well in elections next year. if you let high principle stand in the way of getting anything done, you lose. third hour of "varney & co." is about to begin.

>> we will cut taxes tremendously for the middle class. not just a little bit. we will lower tax rates for businesses to create more jobs and higher wages for americans. but with the highest taxed nation in the developed world and want to become one of the lowest. we won't see companies leaving our country, firing their people and going and selling their product back into our country with no tax and no retribution, that will all stop you. >> heard it very, very clear right there. you heard the president, let's get right to the white house and blake burman, he's there, and he has new details on the plan. what do you got, blake? reporter: start on the individual side, the administration is going to roll out the brackets of 12, 25 and 35%, there's been a lot of question, a lot of talk of maybe a potential extra bracket on top of the 35% from the wealthiest of individuals. here's what i can tell you in speaking with senior

administration officials a little while ago, it is possible that fourth bracket might go up to potentially 37, maybe 38% if the committees are able to wrap their heads around or get a consensus on that number. the national economic adviser, the top adviser, gary cohn, saying of that issue and i quote here, he says that's going to be for a very select, what people would call the 1%. now there's also been this issue of state and local income taxes, whether or not that would be a part of the plan. the treasury secretary steve mnuchin saying that depending on what state you might live in, if that fourth bracket ends up getting put in. once the state and local income taxes are factored out of that equation, the wealthiest might pay more. he said new york, new jersey, california, conconnell look very different. if we look up with 36 or 37th,

that would be tax increase in those states. that's the individual side. the corporate side, a corporate tax rate of 20% and for small businesses of up to 25%. the administration is saying that 20% for the president on that issue, on the corporate side, and the middle class income tax cuts on the individual side is a red line for the president. as you know, he campaigned at certain points of 15%, paul ryan at 20%, what you hear today is 20% and gary cohn said and i quote of those two issues, i think those are his two big bright red lines. back to the individual for a second, i'm ping-ponging but there's a lot here, stuart. you can expect the administration, according to senior administration officials we've been speaking with on this day to try to roll out the argument that if you're a family of four, that makes under $100,000, and you are taking the standard deduction, you are going to benefit, they

contend, by a thousand dollars. under this plan, compared to the current tax code. there's a lot in there, red lines and rates and we will hear some of that from the president later today in indiana. stuart: you got it all in there. you were ping-ponging, but you got all the essential details in and what struck me was the 1% will pay more. it's not a tax cut, it's a pay more deal. reporter: and the feeling that i got, stuart, in talking with senior administration officials here about the issue is it's not necessarily a number set in stone, if there is this fourth bracket, if it goes to 37, 38, it could affect around the 1%, the issue is what is wealthy, i guess, and seems to be a moving target. stuart: a more important point is pulling back on the deduction that you get for state and local income taxes. that would just really hurt new york, connecticut, new jersey, massachusetts, illinois, california.

and the wealthy people that would pay a whole lot more. blake burman, you got it, appreciate it, good man. now these four gop senators essentially killed health reform by standing on principle. that's what i was talking about at top of the hour. will they do the same for tax cuts? let's bring in fox news contributor katie pavlich. you were sitting there as we were going through the more details. >> right. >> i want to go back to this. if you raise the top rate of tax to 37, 38, 39%, the very high-income earner us and take away their deduction for income taxes paid to the state, you end up with the 1% paying a whole lot more. >> and they already are. so the left is already making this argument this is a tax cut for the rich as you're just describing, it will probably be a tax increase. stuart: it will. >> no one talk about the fact that 90% of the federal taxes in this country are paid by 2% of the population. stuart: true.

>> of course, the quote rich who are paying 90% of the taxes are going to get a cut, right? they're the ones actually paying the taxes. >> not with this plan, they don't get it with this plan. >> they're making the argument the rich are getting a tax cut. there's only a percentage of the country that pays the federal income tax, of course they're going to get a break in the lower tax brackets. >> the rich pay more, the 1% take a hit. >> in certain states. stuart: okay, that's an appeal to democrats, surely you can support this, the 1% will pay more, vote for this. >> the president today is going to announce his exact plan. this is not a piece of legislation, this is a structured framework, going to send to capitol hill and figure out the income brackets and all of the numbers that he has invited senator heidi heitkamp and senator joe donnelly, democrats to stand with him there. they haven't confirmed whether they will be there, clear the president is going at this from a bipartisan way. throwing this to the democrats. stuart: he's doing this because the republican party cannot stand united for tax cuts.

>> well, that may be true, however, the house republicans are coming out today, and they're going to release some of the details what they are partnering with the white house on to come out united in support of the president's plan. they did this in august as well. so i wouldn't say on tax cuts they're not united but backing the white house. stuart: i cannot imagine why any republican would vote against straightforward tax cuts. >> i don't think they would --. stuart: don't get it. >> we'll have to see. this plan looks good to me. making the tax brackets from seven to three, which is simpication, the goal is to get taxes on one page. the things that are important to point out are charitable tax deduction is not going away, mortgage deductions are not going away, retirement taxes are not changing. those three things are not touched. everything is getting mixed up. we'll have to see what democrats and republicans have to say about this. big day. stuart: okay, i'm not satisfied

but okay. >> not my fault, talk to the senators. >> pavlich, come back again, good to see you. investors want a tax cut package, right? isn't that what they want? let's bring in keith gerald. you heard the discussion, keith, if taxes go up on the 1%, if they end up paying more for whatever reason, that's not a tax cut packages is it? and i don't think the market will like it. >> no, and i agree with you the market will not only like, it but congress does not understand the most fundamental rule of all when it comes to money, if you treat money badly, doesn't matter, democrat or republican, if you treat money badly, it will leave, money is mobile. that is why the united states is where it is today. they've treated money puntively so it's gone overseas, gone to economies, that's what's driving this discussion. not about driving the rich or taxing the poor. money is going to move if you treat it badly.

>> the deal for you is the 20% top corporate tax rates, that's the thing that brings money back to america. that's what you like about it, and that's what the market will like, is that correct? >> well, that's what the market's going to like. don't forget the market is driven by individuals. i am hopping mad because of what congress has done to middle america. these are the people who have been skinned on both sides of the fence, they need money in the pockets. this is government at the people, not by the people and sure not for the people. they confuse having a plan with doing something about it, stuart, makes me angry. stuart: let's suppose we get the fourth higher tax bracket and get the other three reduced tax brackets and get 20% is the maximum corporate rate. if we get, that and that's the package that we get and the president signs it, is that good for the market? does the market go up? . >> i think the market stays mixed. here's why. the top 0.1% of all income earners in this country pay an

aggregate 5 x what the average taxpayer pays. how much is too much? they doll something with the money to take it out of the line of fire, so to speak. so i think the market is going to be mixed and at best that's what we get. stuart: that's what you've got right now, a mixed market which is dead flat as we get the details coming into us. keith, thank you for joining us, see you soon, sir. now this. federal appeals court decided to uphold some parts of the sanctuary city law in texas. one key part, local authorities must comply with federal requests to detain illegals. daniel ash, texas resident with us next on that. and get back to the failure of health reform. betsy mccoy with us on what comes next? she says get ready for large premium increases.

. >> every time i see our flag wave, i feel a humbling reminder of the brave who keep and have kept us free. i stand to honor the sacrifices of the generations before me. heroes who charged in the battle through bombs and bullets, who lost their brothers and still push through, fighting for every inch of our freedom. >> everybody is looking at this right now, and everybody is paying attention, and we have to have good leadership. everything i said in my video, the brothers that i've lost, the families that have sacrificed so much, it's timing, i'm not saying there's not important issues we need to talk about, but it's the timing that you pick to bring it up. stuart: all right, the nra releasing that ad defending the national anthem in response to the nfl protests. yesterday we talked to the man you saw in the clip.

u.s. navy seal don raso, today we are joined by dana loesch. good to see you again. >> good to see you. stuart: that ad linked guns or the nra with patriotism and the flag. is that a theme we're going to be seeing more of? >> it linked freedom with freedom, stuart, it linked freedom with freedom. don's ad was wonderful. this is a veteran speaking out and explaining why it's important to stand for the anthem. why it is important to honor the flag because these are symbols of freedom that animating spirit of freedom here in the united states of america, and i get his point and i also understand they think there's perhaps an effort under way to maybe repurpose the anthem and the flag as avatars of suppression, but that's not the case. this isn't just for military, and i want to make that point as well. when we stand for the anthem and honor the flag, we're not doing that to say this is the

military sacrifice, the military does this because they believe in so much what they're fighting for. we do what we do because we believe in the united states so much. it's that freedom, stuart, it is that freedom that's what we can all enjoy. we are humans, we are americans first and all of the other division, tactics and identity politics comes way after that. that's what this is. stuart: and i agree. i think it's some of the most effective political advertising, if i can call it that, that i've seen on television because you and all the other characters who appear full on camera, you don't look angry but you've got emotion and you're communicating that feeling of freedom. i think it's very, very powerful. just like the ad that you did not too long ago, that was very effective, too. i'm giving you a compliment. >> thank you, i appreciate that, thank you very much, stuart. i appreciate it. flattery will get you

everywhere. [ laughter ] >> i got to talk to you about an appeals court which has decided to uphold some parts of the sanctuary city ban in texas. local authorities must comply with federal requests to detain illegals. you're in dallas, that sounds like a victory for texas to me. you agree? >> i completely agree. speaking personally and as a texan, i got here as soon as i could from southern missouri. i love this state. i love everything it stands for and i love the leadership in this state. and they understand that innocent americans, innocent texans are at risk when we allow for criminal elements to go unfetterred. when we don't follow the law, that encourages more law break. think about this, there have been a number of studies that look at criminality of those in the united states illegally. a couple of government accountability office gao reports 2005 and 2011 completed the same thing, when you look

at rate of federal criminal offenses by those here illegally and those who are actually american citizens, it's three times the rate of legal citizens, the rate illegals commit crimes in the united states, and break it down further. look at prison populations. when you encourage this lawlessness, you're going to get more lawlessness, and i'm so glad that the democrats that are a part of this particular ruling, good for them, they're classical rules, they understand the law, realize common sense and they're upholding the law, not interpreting, not creating law, kudos to them, it's a victory for texas. stuart: dana, you've got that direct appeal, you look straight into the camera. i wish i could do that with conviction, i can't. you're very good at it. come and see us in new york soon. stuart: i will. >> i will do so, thank you. stuart: got update puerto rico. president trump going there next tuesday, he wants to see

the devastation firsthand. got an update on that for you. celebrities helping with relief efforts, rapper pit bull using his plane to bring cancer patients to the u.s. to treatment. mark cuban lending the private jet to the point guard so that he can deliver emergency supplies. we just got this video, sailors and marines in the caribbean heading to puerto rico with equipment and supplies, much needed, they're on their way. in alabama, judge roy moore won the gop runoff, a hit to the republican establishment. that's my opinion. president trump supported luther strange. the rnc, the republican party with us shortly. first, check this out. look at that. can you imagine? that is a diamond, the size of a tennis ball. the second largest gem-quality diamond discovered in history. can you guess how much it sold for? stay there, please. i am going to tell you.

i'm not going to leak the deal until after this commercial break. >> well done. what did we do before phones?

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. stuart: breaking. do you remember maria? it's restrengthened! it is a hurricane again. it's a category 1 storm, it's about 160 miles east of cape hatteras, north carolina, expected to remain offshore, it will turn further east more away from america. meanwhile, hurricane lee just became the fifth major hurricane of the season it. too is far out in the atlantic ocean, not expected to threaten land. just look at maria. >> won't go away. stuart: we showed you this before the break, second largest gem-quality diamond discovered. it was sold for $53 million. bought by london based luxury jewelry graff jewelers, size of a tennis ball, mined in botswana in 2015. actor jim belushi star in l.a., tile imported from italy, morocco and venezuela, 60 foot

pool. the asking price $38 million, it was over 40 million earlier. >> nice weekend place. stuart: new name in the electric car market, dyson, they're the vacuum cleaner people. british. it reportedly invested or going to invest 2 .7 billion in the project. they have a team of 400 engineers working on a prototype. dyson, sir james dyson plans to launch the new vehicle in 2020. he wants to be britain's elon musk. >> hopefully it doesn't suck. it's a vacuum. >> whatever, whatever. stuart: crooked lines on the highway in alaska. it happened when the state's transportation department tried out a new line painting system, something went wrong, obviously, there's another problem by the way. the paint is not drying because of humidity and staining the car. >> your tax dollars at work. stuart: my brother runs a line

painting deal in england. >> hopefully that wasn't him. stuart: no, in alabama judge roy moore, this is another hit to the republican establishment. president trump supported his opponent luther strange. the rnc, the republicans, with us next. we'll also be joined by beating obamacare author betsy mccaughey on the failure to pass health reform. what's next? she thinks the democrats will push for a bailout, and she may be right. we'll be back.

. stuart: i'll repeat, this is a wait-and-see market. we're waiting for the full details on the tax reform package. plenty of details, so far that market is unmoved. dead flat, a plus 7 is what we have. health reform bill, as you know, the obamacare repeal is dead. thanks in part to these four gop senators. rand paul, john mccain, susan collins and lisa murkowski, we're joined by a beating obamacare author betsy mccaughey. come back in again, please. you tell me. we've got obamacare still around next. what's down the pike for the people who have to suffer under obamacare? >> for people in the individual

insurance market who don't get coverage through employer, there's a lot of bad news ahead about 12 million of those 20 million people in the individual market not eligible for subsidies, they earn more than $46,000 a year, and they're going to get slammed with big premium hikes this year in many states as much as 25 to 35%, and no upon had, paying as much for health insurance likely as they do for a mortgage. stuart: are we getting to the point where insurers are pulling out? >> that will also happen. the democrats are going to be pushing very hard for a bailout, billions of dollars in money poured directly into the insurance companies, but frankly, stuart, that's like paying to get your house repainted when the foundation has already crumbled. pouring more bad money into the sinkhole. stuart: what happened if people just don't pay? >> that's exactly what's going to happen. expect to see a new class of

the uninsured. the middle class. many of those 12 million people ineligible for subsidies are going to stop paying for insurance. you're going to see a rise in the number of uninsured people in this country. stuart: who gets the blame? i say it's the republican party which failed to reform obamacare, they get the blame. >> that's where i disagree with you and you are so smart, i hesitate to ever disagree. >> oh! >> the bill failed largely because of demagoguery on the part of obamacare's defenders. demagoguery, they claim that millions of poor people would lose insurance when, in fact, every year under the new bill that failed last week, the federal government would be providing more and more aid. the total adjustment in spending was a fraction. a mere 4.5%, stuart, and yet chuck schumer and senator murphy lied through their teeth

claiming this was a cruel bill. the worst bill ever. 4.5% any. family budget can be adjusted that much. stuart: i'm with you. there have been two epic fails to get obamacare repealed and replaced. it's not been repealed and replaced. it's still there. >> that's right. stuart: how long is it still going to be there for? >> not very long because as i said, the insurance companies are going to be pulling out. they've lost billions of dollars on average. $3 billion a year total and the aggregate, trying sell these plans. stuart: but it's still with us, it's not gone away, we still have obamacare. >> you have it but it's crumbling before your very eyes, and as i said fewer and fewer people will be enrolled this year than last year, and the democrats are moving in with when they call it single payer or medicare for all, it's really you're trapped care, because this new bill promoted by bernie sanders and a large number of democrats actually

outlaw private insurance. stuart: that's not going to happen. >> pull insurance away from 180 million people. >> i think we're in for a mess that's going to run for a long, long time with increasing numbers of people forced out, no insurance situation. that's what's going to happen. >> and a middle class that's going to suffer under obamacare. poor lives matter, not so much, middle class. >> i want to bring in our very own caylee mcinerney who cuts her teeth on the "varney & co." show. >> that is exactly right. stuart: look, the gop could not get it done on obamacare, what makes you think that they can get it done on tax cuts? >> let's be clear. what binds us as a party. what makes us republican in my mind are pro-life. we all agree on that and putting more money in the pockets of everyday workers, blue collar workers, middle class workers, americans, those

are the two seminal principles that bind us as a party. stuart: the only way to get a package through is with democrat support, because you can not rely on all republicans in the house and senate to vote for even for tax cuts, you can't rely on them. therefore you got to appeal to democrats, come on over, please, we're going to tax the rich. we're going to stick it to the 1%. that's what you'll get through, and that's the republican party failure. >> look, president trump's been putting so much pressure on moderate democrats, we've seen him call out senator mccaskill. seen him stand on a stage with heidi heitkamp bringing her to a rally, joe donnelly is next. democrats need to be worried, if you're not for putting money in the poorest of the poor, blue collar worker, middle class workers. you have a problem at the ballot box. >> you think the media is going to play it that way? >> he's sitting at 1600

pennsylvania, they'll see through this as well. stuart: here's another divide in the republican party. last night the runoff in the alabama, judge roy moore won. thing is a victory for the anti-establishment, no, this is a victory over republican establishment people. he's not in the establishment, he's on the other side of the fence. furthering the divide in the republican party. >> neither was luther strange part of the establishment. you had two big candidates, a big congratulations to judge roy moore. mainstream media is ginning up this division. we are in one family. do you remember the never-trump movement, president trump won nearly 90% of the republican vote. republicans were always together behind president trump even when some people were trying to gin up division. stuart: no worries from roy moore from caylee mcinerney. >> no worries at all, a create christian conservative, that's going to soar into a senate seat. stuart: thank you for joining us, another appearance on

"varney & co.," like that. >> love it. stuart: thank you very much. i'm going to stay on the roy moore situation and his win in alabama and bring in judge napolitano. first of all, napolitano. >> yes, varney. you are so smart. stuart: judge roy moore flattens the mother's milk of television. opposes gay marriage. judge roy moore wants the public display of the ten commandments. on those two issue, not going to get much support on the senate or the country as a whole. stuart: the two issues that got him expelled from the alabama supreme court twice. neither of those issues is a matter relevant to being a united states senator. gay marriage has been established by the supreme court, and the supreme court has also established that the separation of church and state prohibits conspicuous religious displays on government properties. stuart: how do you feel with that? >> i agree with that. i agree with the separation of church and state.

should be a wall of separation between church and state. stuart: why is there a war? >> wall, not war. stuart: on the public display of christianity? >> it's one of the least acceptable prejudices in the united states. that's the reason there's a war. this is a big thing for me, because i don't like the public displays on government property because the first amendment prohibits it. my people have statues of the blessed virgin mary, all over the country on private property. >> okay, are we back to the discussion of principle versus practicality? >> i think so, you brought us into the discussion of statues on public property. stuart: judge roy moore is going to do it, not going to compromise. >> not a mitch mcconnell yes man as the person he is purported to have been. stuart: so we get nothing done. rand paul stands on principle, gets nothing done. >> you don't like the people

that stand on principle and i say this with deference and respect, an incrementalist, a little change in the right direction is good enough for you. for the rand paul people, and i am among them, anything that institutionalizes the government micromanagement of health care makes it worse not better. stuart: but what you end up with is worse, it gets worse. we still have obamacare. you should hear betsy mccaughey. >> i have to agree with everything that betsy said. stuart: the rotten situation, people like rand paul couldn't come off high horse of principle and compromise and get something done. >> we have the rotten situation because harry reid, maneuvered this monstrosity how to the senate and nancy pelosi did the same in the house and we're stuck with it until it collapses of its own weight. when it does, we'll go back to the free market. stuart: would you like to pay my daughter's rapidly rising monthly premiums and $6,000 deductible for a young kid?

>> this is a crisis for the trump administration, when insurance premiums cost more than medical bills, you will stop paying the premiums. it's a crisis for the government this forces us to purchase a product that we don't need like an octogenarian having an ob-gyn coverage. stuart: octogenarian. an 80-year-old. >> a person you should be concerned about because you are close. [laughter] . >> i think i won that one, napolitano. >> let him think it. stuart: they're screaming at me. do the tease. next, head to indianapolis where president trump is barn storming on taxes. the president speaks 3:00 p.m. eastern today. we'll also be joined by danny tarkanian on the latest ncaa scandal, his father jerry tarkanian was once under ncaa investigation, he fought until his deathing that. story coming up. first, have you eaten at a

sonic drive-in lately? thanks, judge. the company has acknowledged a hack and you could be affected. that story in 90 seconds, i want to see you with a sonic burger in your hand. >> don't even know what it is. stuart: good!

. reporter: i'm nicole petallides

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. stuart: today president trump barn storms for tax reform in indiana. he's going to the indiana state fair. connell mcshane is there. but the president's going to his home turf in indiana, isn't he? >> sure, is he won here bigtime, stuart, as you know, and the vice president's home turf and i think that's the larger point. you talk about the details what we expect to hear today but where it is happening is also very important.

vice president mike pence, his governor here, and we expect the president to point out things got better in indiana, that can be used as a model for the nation. i have three quick examples. unemployment rate, 8.4%, january 2013 when he's governor, down to 4% even so the argument there is lower taxes, more job, simple. taxes under pence, on the state level went down. individuals cut that. businesses cut the rate for businesses. there was an estate tax and got rid of it. as the final of the three examples, the fiscal situation, a $40 million surplus was left by mike pence in the state of indiana, that gets to the pay for, but the larger point, mike pence in indiana, can we take that argument national. we expect to hear a lot today. and finally, stuart, heard you talking about bringing democrats on board. that may be part of why this event is held in indiana as well. remember when senator heidi heitkamp was invited to the state of north dakota to talk

taxes, very similar situation today with a democratic senator up for re-election next year in a state the president won. senator joe donnelly traveling on air force one, out here with the president. similar what they tried with heitkamp, maybe somebody that might cross the aisle. we'll see. stuart: connell, do we have crowds forming? i know it's three or four hours before he speaks, anybody there yet? reporter: no, not a traditional political rally. this is one of the invitation only events and on the state fairgrounds, the hall where they're holding it and the secret service is going through the security sweep, that's why we're not in it, relatively small venue, more of a traditional political announcement-type event as opposed to a trump political rally event. that's why we don't see the crowds yet. stuart: got it, we'll be covering it. thank you very much indeed. more on the story following all morning for you. espn is now reporting that rick pitino is out as head coach of

louisville's men's basketball team. the athletic director out, follows the massive bribery and fraud case involving the feds and five major college basketball programs. come on in please, come on in danny tarkanian, the son of the former university of nevada basketball coach. good to see you. >> varney, good to be back. stuart: i can't remember a name big as this out in basketball. rick pitino, that's a bombshell. what do you make of it? >> it really is a bombshell. i'm shocked by the news, the news yesterday, which was reported, sure looked like rick was going to have a tough time staying on and obviously he didn't make it. i believe the story that came out yesterday is a watershed of change in collegiate sports. exposing what's been going on for decades and took the fbi to get involved to do it because the ncaa can't or won't monitor the sport like it should.

stuart: there is enormous amount of money changing hands here. the great deal of money that's going around. do you think it's time to start paying college basketball players in some way or another? >> well, i think they've started that now, they allow -- my father was a big proponent of it. and now you see the ncaa doing it. the college kids, most of them playing generaling basketball from the inner city that don't have the ability to go college and live like a regular college student. the ncaa passed legislation that allows colleges to allow certain stipends so they can live like other college students, and i think, and i know my father would agree, that's the right approach. he was always against giving big payments to players to pay college basketball. he felt that would take away from the entire beauty of the college or athletics, but people who go to college and represent the university should be able to live like the rest of the college students do.

stuart: what is fundamentally wrong with a sports agent paying an assistant coach, say, $100,000 to influence a young basketball player to go with that agent when he turns pro? what's wrong with that? basically -- >> are you kidding? . stuart: no, what's wrong? >> well, there's a certain special bond between a coach and a player, and he has certain influences on him. if the coach is getting paid so that he has the financial interest in sending the player to the agent, he's not looking out for the player's best interest, his best interest. is that what you want college sports to be like? i guarantee you the coach didn't tell the player he was getting paid that money. >> okay, what would you do about all of this? >> i think it's great people are being arrested, charged. this has been going on for decades. i don't think it's been at this high of a level, widespread or the amount of money, but it used to be where college athletes, a lot of -- not all of them, there was a lot getting paid by boosters, big

sums of money. my dad used to talk about this all the time, how unfair it was and very proud his program was not involved with any of the things. went from the boosters to the shoe apparel companies, follow the athletes as you saw with louisville or give to the players to go certain agent when they signed with the pros. that is completely wrong. do what's in the best interest of the kids, that's what you're there for, hired by the university for and i'm glad to see this being taken care of by the fbi you. >> might have to pay them eventually. mr. tarkanian, thank you for joining us today. >> you don't have to pay them. it's a privilege and honor to represent the university. let them live like normal college students. stuart: what have we got coming up for you? a wait-and-see market. that's what. the dow is pretty much flat. nine points higher. everyone is waiting for the big speech on tax cuts, tax reform coming up this afternoon. how much can the president deliver? we'll be back.

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. stuart: saudi arabia agrees to let women drive. i think emac has something to

say about this. >> yeah. they no longer need a male guardian to say, approve whether or not they can drive. but still need a male guardian to marry or divorce or sign off on travel or opening bank accounts or getting a job or elective surgery. so this is where the real war on women is. it's in the middle east. saudi arabia has been oppressing women for sometime. been an embarrassment and condemned roundly by its own allies. stuart: women cannot drive in saudi arabia until next year. not the floodgates are open tomorrow morning. >> they no longer need a male guardian to get a driver's license. they can get a license without a male guardian. stuart: you have traveled stens sniffle. >> been to saudi arabia, they don't want mixing of men and women on buses. >> backwards and oppressive. i think i had my say. stuart: you haven't had half

enough. >> how do you shut off half the economy, right? stuart: i understand. but they are finally moving towards the -- at least the 20th century. >> slowly. >> they still execute people in public. >> i think they cut the right hand off people of thieves. flogging is still there in saudi arabia. not quite the progressive state people would like to see. >> let's get on with this. stuart: more varney after this. i can do more to lower my a1c. and i can do it with what's already within me. because my body can still make its own insulin. and once-weekly trulicity activates my body to release it. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. .

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activate your within. ask your doctor about once-weekly trulicity. stuart: i think we're looking at go nowhere stock market at the moment. very narrow lead. up seven points. ash, liz, i think the market is waiting to see if president trump can tell the tax package. ashley: we'll get that afternoon. what level this tax reform, how

diluted is it. we have some details. i think the market wants something. if it gets nothing, it could be nasty. liz: will republicans rally around to stop foot-dragging, whether he may need democrats. stuart: he may. that is the last word. neil, it is yours. neil: stuart, i'm worried for you. stuart: uh-oh. neil: the tax thing i read it in the voice and tone. maybe fact that upperring this will have a different rate. maybe the fact you reside in new jersey, the guy leading polls for governor is a democrat, want as surtax on witch guys like you. that would more than wipe out whatever gains you would get with federal income relief. maybe the fact you can't likely write off those state and local taxes. so i can understand you're reconsidering idea of becoming a american citizen. stuart: i'm not. neil: i want you to know, it is going to be all right. i have to say that. as a friend i wasor