trish: thank you, tammy, thank you, lawrence. and god bless america. lou will be back with you monday. you can watch me on "the intelligence report" every day 2:00 p.m. on fox business network. >> announcer: the new week are. >> welcome to "wall street week," the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. kathy ireland is my special guest this weekend. it was a big week this week. after months of waiting president trump and republican lawmakers revealing their framework for tax reform wednesday. on the dorm rat side the plan cuts the corporate thanks rate to 20% down from 35%.

it cuts tax on small businesses to 25%. currently business owners pay an individual thanks rate. and it encourages companies to bring their offshore profits back to the united states. it would collapse the breaks the from 7 to 3. although there is still talk of a fourth bracket for very high earners. it would double the standard deduction to $12,000 for individual and $24,000 for married couples. and an elimination of the estate and alternative minimum taxes. all week long i spoke with leaders and architects in washington of this plan. here are some of the highlights. >> there is a reason we worked with the president at the senate and house together on this.

this is bold, it's transformational. >> we eliminated almost all deductions. for the rich it means though the tax rate came down some, all their deductions disappear which pays for it. >> it's deficit neutral. we'll spark the economy and continue to grow. >> the focus should be jobs and economic growth. already a lot of elements we are hearing that will be encouraging in that record. maria: the markets reacted generally positive to the plan. in september all the major indices higher. the russell 2,000 intax, a huge gain for small stocks. the entire market was on a roll. but how did we do in the 4th quarter to be determined by the fate of president trump's tax

plan. the u.s. economy expanding faster than expected. growing 3.1% in the second quarter. that was the fastest pace of growth in two years. recovery efforts in puerto rico ongoing. president trump lift shipping restrictions to get supplies to puerto rico that much quicker. is out in most of parts of the island and a shortage of food and water are making conditions almost unbearable for people living there. for reaction to all of the headlines this week and the impact on your money i'm joined by david bounder. do we see a big rally once this gets executed or do you worry about valuations? >> i believe it is not fully priced in. to the extent they are successful i think you have more

room to go in the market. particularly in the multi-national space. but do we worry about valuations as well? there is a certain piece of the market that feels to be fully valued. >> i want to talk to you about how you are allocating money. we want to know how you are choosing to invest. when dew think you will get tax reform done? >> a lot of it has to do with the fact theyee they -- they tep in a much smarter way. i think secretary mnuchin is qualified and competent to bring it together. but this is not something that has the embedded conflicts and complexities of obamacare. what broke it up with obamacare

is within the gop, there were two totally different outsides. there is friction within the gop on tax reform on the margins but pretty much consensus exists on what they want to accomplish. maria: the one hurdle we keep talking about is the idea most of deductions are going away except the mortgage deduction, charitable deduction and retirement deduction. the deduction to write down state and local income taxes. the high income states like new york, new jersey, california, they are going to get hit on this. peter king says he's not voting yes on this plan if it includes the elimination of the state and local income tax deduction. >> i live in both california and new york, so i couldn't be in two more inefficient tax states than that, and i fully support

them eliminating this deduction it's a subsidy low-tax states are paying for high-tax states. even if congressman ding doesn't like it. it's very passable. what people are not talking about is the amt, alternative minimum tax. you bring in reduced rates. nobody knows enough to know if it results in a net higher tax burden for anybody. maria: do you think we'll get another broke the, like a millionaires tax. most of people are 12, 25, 35. >> they may dangle the idea of a $5 million threshold. an even higher rate. the way they teed it up it looks

like president trump has it out there and will let congress say no to it. maria: how do you invest right now. >> within the u.s. we really want to be selective. for a person who wants to go and bite s & p, they are buying a multiple market. it's expensive. we want to be more selective and we are dividend growth investors. when you look at these companies growing their dividends. we have been investors with mcdonald's for 10 years. our strong prices trimmed. but the dividend has tripled. we want that cash flow. inflation is so low, if inflation starts to project higher, everyone is worried about that.

the companies have pricing power, they can pass that effect on to their customers. and it gives that return. but strong free cash flow. in the u.s. we like strong different dpenld names, mcdonald's is one i'm using as an example. a lot in the energy sector doing the same thing. noun rrp kathy ireland joins maria bartiromo next to share how she went to super mod toll super mogul. . damage your vehicle? we got you covered. [ glass shatters ] property damage? that's what general liability's for. what?! -injured employee? -ow.

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...oral-b crossaction is clinically proven to... ...remove more plaque than sonicare diamondclean. my mouth feels so clean. i'll only use an oral-b! the #1 brand used by dentists worldwide. oral-b. brush like a pro. yeah, i got some financialbody guidance a while ago. how'd that go? he kept spelling my name with an 'i' but it's bryan with a 'y.' yeah, since birth. that drives me crazy. yes. it's on all your email. yes. they should know this? yeah. the guy was my brother-in-law. that's ridiculous. well, i happen to know some people. do they listen? what? they're amazing listeners. nice. guidance from professionals who take their time to get to know you. maria: our next guest is a fashion and business icon. though you may know her best for

her appearances on the "sports illustrated" cover. kathy ireland joins me. thanks for joining us. what i love about your story is you started from nothing. you put $50,000 of your own money to create kathy ireland worldwide. tell bults history of that. kathy ireland: way back when we i worked as a model. starting our own brands many people said you have got to break in with swimwear. that would have been an endorsement. that's your fine if that's your path. if i was interested in building a brands that was solid and transcend me. it's about the team and about our customer. and when we first started we had an internal document called the aging of kathy ireland. it allows me to age.

it allows -- it makes it not about me. so it's a very broad vision and strategy that really literally began from the ground up with a pair of socks. maria: you started with socks. you chose socks. you thought you could make a more comfortable, cozier sock and you did it was a huge success from the get-go. kathy ireland: it seemed like an item we all wear. it's not expensive, and it's something we use every day. something as basic as a sock, that would tell us if we were on anything real. if it was based on any smidgen of celebrity i had in the last century, that's not very stable. it's really building a

relationship with our customer. maria: what our viewers love about you have is you are so genuine. you have this huge empire but you continue to talk about reaching the customer by focusing on the customer. now a new product, diamonds. kathy ireland: what i'm wearing today, these are our statement pieces. $2 million. $2.5 million. we also have diamonds by kathy ireland and it's $2,000 to $40,000. and something we finds that the g.i.a., they talk about the color, cut, clarity and carat. cost is another thing we think when we are designing.

we have a patented setting that gives the appearance of three times the cut. maria: that's interested. a patented setting that makes it look bigger than it is. kathy ireland: we are working with our retail partners too. not very long ago people would not conceive of purchasing a diamond online. day it's everywhere. but we also believe that brick and mortar will not go away. ones that are successful are -- are innovating and offering their customers more. we are strategic with who we partner with. if someone comes into your store, they spend your associate's time look. they purchase online if it's within that same city radius. we share our proceeds with. maria: you are looking at

bankruptcy, everything from is to are us to simple apparel companies. but you have still got 17,000 products carried in 50,000 stores across 50 countries. so you are seeing the foot traffic. kathy ireland: we also learned from powerful lessons from long ago from kmart going through the bankruptcy. and diversity being one of them. not being dependent upon any one retailer. maria: we have a lot more to come when "wall street week" comes right back. >> announcer: still to come on "wall street week." kathy ireland made a life-changing decision when she said no to taking her company public. why she is keeping hour business private when "wall street week" returns.

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>> announcer: welcome back to "wall street week." more of maria bartiromo's exclusive interview with kathy ireland. maria: you made a conscious decision not to go public. a lot of people said let's do an ipo, we'll take this to wall street. you made a decision not to. why? kathy ireland: one of the biggest reasons i decided not to take our company public is i don't have the education that is required to take on that responsibility. i don't do it in a titular sense. some people think i'm a control freak. i like to think of it as passionate. what's going on behind the scenes. who we work with, and the hows.

it's important. there are also wonderful ways to work in a public sector. we have millennials on our team. our team has been together for 28 years. our millennial team weren't even born when we started. i love these young people with entrepreneurial spirit and vision who wants to start something public. maria: you are attracting a younger millennial audience. how do you reach them and what's most of important with speaking with the younger purchaser. kathy ireland: we did an audit and we learned 80% of our customers are underage 34. maria: that's a big number. kathy ireland: it's an intentional outreach. my customer today doesn't know me from the modeling background.

earning her trust. so our company has been producing and designing weddings for many many years. and when we earn the trust, someone on their most of special day and get right, they are with us for life it's a long-term relationship. >> you resonated with this saudi arabia yens and they stayed with you. tell us where the growth stories are. you have got furniture and apparel. tell us where you see the growth in this environment today. kathy ireland: for a while the was stagnant. 2008 really halted that area. furniture is coming back. we are getting ready to launch next month with a home collection which i'm thrilled. it's unlike anything mr. amini

has worked on before it's aspen rustic chic. maria: are everything you put out, where is it produced largely? is it in america? kathy ireland: it's diverse between the u.s. and overseas. we began in north carolina with our socks and it continues to be a strong home for us. we have offices there. maria: any thoughts on the policies coming out of washington that could move small business. do you think if we were to see a significant tax cut coming soon, do you think that moves the needle on small business in terms of growth? kathy ireland: i think it could help tremendously. maria: being able to keep more money to reinvest. kathy ireland: for

entrepreneurs, that's what we do, we reinvest into what we have 0 passion, the jobs created from that. it's heartbreaking to hear about the companies closing their doors and the jobs being lost. maria: what are you seeing whether it's brick and mortar or online. it feels like the economy is getting better. >> we are getting a strong pulse that the economy is picking up. and our customer is letting us know she wants to be reached in a way according to her needs, online it's not going away. it's getting stronger. brick and mortar i believe also will not go away. we look at generation z. they like that experience. they want online, but there is something about that brick and mortar experience, it has to be innovative and worth their while. maria: people want to try things

on. but they want the best price. kathy ireland: finding ways for brick and mortar to work together with online so it's a win-win for everyone. maria: kathy ireland there. more "wall street week" after this.

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maria: let's look at some of the big market events that could impact your money. manufacturing, purchasing manager's index are out next week as well as vehicle sales. let's see what the auto industry is degree. later in the week it's all about jobs. jobs report from the labor department out friday for the month of september. tune in friday for the jobs

report on "mornings with maria." as we identify where the jobs are. on the earnings front, pepsico, monsanto and costco all reporting their quarterly earnings. in washington a busy week for the president as he plans to visit puerto rico and the virgin islands. and he's about to announce an executive order on healthcare. and the data breach that put hundreds of millions of americans at risk. we'll talk about the cloud and what's driving technology. join me as i sit down with president trump's chief economic advisor to go through this tax

plan. that will do it for us on "wall street week." thanks for joining me. >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe. at the end of the show,