treso t give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. maria: welcome back. my thanks to this awesome panel. have a great day, everybody. go seize the day. "varney & company." stuart over to you. stuart: it is mine. what is this? wall street's version of the energizer bunny? the stock market rally keeps going and going and going. good morning everyone. look at this, the half hour from now the market is set up to go up some more, maybe 90 points. the dow only took 22 sessions to go from 22 to 23,000. first, politics, senate republicans have the votes to pass the budget, that makes tax cuts this year more likely.

investors love it. second, profits. that is the baseline for stock prices. latest reports from big companies show strong gains. investors love it. ibm stock going up a whopping 6% this morning. that's huge. third, the president is throwing everything in the tax cut fight. he kept up the with the speech in front of heritage foundation. the barnstorming continues. trump growth agenda is rolling. you remember the leftists that forecast a crash when he was elected. how wrong can you be? the dow hit 67th record high since donald trump election. capital gain is great. watch this market grow. "varney & company" is about to begin.

♪ >> let's give our country the best christmas present of all, massive tax relief. and speaking of christmas, yes? you want to hear it? [cheering] speaking, i'm talking about christmas present. i will give you a bigger christmas present. you will be saying merry christmas again. you will say merry christmas. stuart: a little humor from the president with serious intent perhaps. you can say merry christmas again. he called the massive tax cut a best christmas present of all. gop looks like they're getting together on tax reform. president trump tweeting, the democrats will only vote for tax increases. hopefully all senate republicans will vote for the largest tax cuts in u.s. history. senator mccain says he will vote yes on the budget. that helps clear the path for tax cuts. treasury secretary steve mnuchin steve mnuchin says, we will get

it done. roll tape. >> we will get tax reform done this year it will be extraordinary. that is our objective. our objective to get it on the president's desk by december to get him to sign it this year. stuart: well, well, look who is here. one and only herman cain. >> always a pleasure. stuart: i know that the gop should, ought to, must, cut taxes. >> yes. stuart: but can you tell me seriously yes, the gop will cut taxes? >> i am cautiously optimistic for the following reasons. 10 senators that are democrats are up for re-election. they have got to be able to tell their constituency that they supported letting them keeping more of their money. that is the main thing. stuart: that is the main thing. >> yes. stuart: you think that 10 democrats would vote for the current coined of tax cut plan that we see? >> no. they only need to pick off three or four. they don't need all 10. but i'm saying, the president

and republicans have 10 opportunities to pick up some democrat votes that is the main reason i'm cautiously optimistic. the second reason i'm only cautiously optimistic is because of the way the swamp works. the president put a bold plan on the table and what the swamp does it tries to whittle it down over time, such that they give the american people some crumbs and claim victory. so i don't know how they're going to be able to whittle it down because everyone of the 53 a are trying to repay some old promises. cautiously optimistic. stuart: i'm surprised to hear the word cautious into your lexicon this morning. >> yes. stuart: i thought you would youd gung-ho, yes the gop got the message. they are going to do it. >> if it were you to me i would say yes, hip-hip-hooray, but it is up to 535 people whether it gets to the finish line and gets to the president. stuart: last one on this

subject, can the republicans can they get 50 votes in the senate yes on tax cuts. that is all it takes. 50 votes in the senate. >> i believe they can. the question how much will they have to give away in order to get there, that is a fair point. would you stay with us please. >> i would be happy to. stuart: at least for 20 minutes. >> i will be here. let ate's get to the meat of today's broadcast. where is it going. the dow broke 23,000 for the first time ever just yesterday. we're going up close to 100 points today. check ford, recalling 1.3 million vehicles in north america. they need to add a water shield to one of the side doors. f-150s -- ashley: suber doobie. stuart: no, i didn't say that. liz: when you got here -- >> did you want me jumpn on

this stuart: no, i don't. ford at 12.28, thank you. ibm will add more than 60 points to the dow right from opening bell. profit and sales declines, but look at that stock go up 6%. why is the stock up like this? liz: could add 68 points to the dow. third quarter ref beat what wall street expected. fourth quarter they're saying ibm could come in first time a gain in five 1/2 years of revenue. stuart: that's it. liz: ibm is powering the dow ahead. ibm could be responsible for the dow finishing above 23,000 at the finish, at the close. why? it is selling more hardware. the b in ibm was thought to be boring. hardware means software sales, cloud services. this is ibm fourth quarter forecast coming in right now. stuart: we'll concentrate on old tech. i put ibm under old tech rubric. maybe they're launching a comeback. maybe oracle too.

we'll look at that. we'll pull a old chestnut out of the fire. hillary clinton still has an email problem. the latest is her assistant. huma abedin. her husband, anthony weiner, had 2300 emails on his computer that came from huma abedin, her assistant. round and round it goes. who better to judge, andrew napolitano. give me the significance please. >> the significance, fbi acknowledgement, huma abedin, mrs. anthony weiner, when she had top security clearance as number two assistant to hillary clinton when hillary was secretary of state, regularly sent copies of sensitive material to her own laptop to look at it at not night, either knowing or forgetting her husband had access to it as well. we know of her husband's fate or jail sentence, has nothing to do with this. it has to do with inappropriate,

criminal personal behavior. this shows again the culture in the hillary clinton state department of a cavalier attitude about the handling of government secrets. it also shows the fbi awareness of it. it also shows the president's frustration with it, when in a tweet this morning he said, there she goes again, "crooked hillary," jim comey let her off the hook again, something i profoundly agree with him on. but, he should pick up the phone and call general kelly and say, i want you to call jeff sessions and rod rose ten steen. rosenstein is number two person in the justice department. tell them to reopen the case, go where the evidence takes them. i'm not say she would be indicted. go where the evidence takes them. the evidence will take them to an indictment. stuart: breaking law for putting classified email on a computer for huma? >> they are not bound by the

ill-advised, politically-motivated decision that james comey made in the summer of, in july of 2016, not to seek her indictment. stuart: i thought it had all gone away? >> so did i. we all thought it had gone away. here is how it came out, in a freedom of information act request by our friends at "judicial watch", and the fbi coughed it up. "freedom watch" is saying we never saw these emails before. they were not part of the original trove of emails that were released. these are more hillary clinton emails that we never saw that she swore under oath three times she had surrendered to the government when apparently she hadn't. stuart: i can't resist bringing herman into this. he is sitting there patiently waiting to go. >> dragnet. stuart: i do. we're only people around this building who remember. ashley: just the facts. stuart: hillary won't go away, will she. >> no.

will not go away but what this shows as judge napolitano laid out perfectly clear, the cover-up by the obama administration was very clever until they got thrown under the bus recently with those additional emails. secondly, that certainly is not going to go away. you have a new administration, that wants to expose the corruption and cover-up. now the other part of hillary going away, you're right, she won't go away because she is looking for relevance, and she's not achieving it the way she thinks she is. with all of the things she is saying, all attacks, all the narrative, et cetera. so i happen to believe, that when and if the president picks up that phone, the case will be reopened like the judge says. it is about time. stuart: okay. well you got it out there, herman. glad you did. still have 15 minutes left. >> the more she talks, more the president loves it. shoe he is right.

>> she is falling right into his narrative. ashley: gop is loving it. >> democratic elites are cringing. stuart: you're coming back to look at james comey and draft letter. >> when did he decide not to prosecute? >> very much indeed. 11:00. :. big legal win for johnson & johnson. they will not have to pay $70 million to a woman whose family claims she got cancer from their baby powder. new developments in the harvey weinstein case. his brother bob is being accused of sexual harrassment from a producer at a spike tv show. the spokesman for the syrian democrat forces says, after a four-month long assault, the fighting is officially over. big win, big victory.

more details coming up. the liberal media's contempt for the republicans knows no bounds. a cnn reporter mocking president trump for helping senator mitch mcconnell climb a set of stairs at white house. senator mcconnell is a polio survivor. brent bozell next on that one. right as i was stepping into the tee box mentioned a tip a pro gave her. no. yep. did it help? it completely ruined my game. well, the truth is, that advice was never meant for you. i like you. you want to show me your swing? it's too soon. get advice that's right for you. investment management services from td ameritrade.

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stuart: if you're just tuning in i have some good news for you. looks like green arrows all across the board this morning for the stock market. the dow will open above 23,000. look at this, grocery store chain, supervalu, lost some money. sales pretty flat. nonetheless stock will be up 5%. go figure. i don't have a reason for you. >> switching gears, "new york times" columnist paul krugman, here is what he wrote the day after the election. here it is. it really looks like, let me start again. it really does now look like

president donald j. trump and markets are plunging. if the question is when markets will recover, a first-pass answer is never. let's check that. take a look how the markets have performed since the election. dow up 25%. s&p up 19%. nasdaq 27% higher. hardly a plunge. come in brent bozell, i'm being sarcastic. i will lay off that, brent. you're the guy that runs media research center. krugman never acknowledges that he is wrong, does he? >> no. and neither do the media. it happens so many times, with climatologists another crowd it happens with. when they're wrong on predictions, they're never held to account. if it was conservative you better believe they would be. but krugman is not just a bad economist, a lousy economist. he is also a hardened left-winger which is why he is a media darling. let's not forget, this is the man who accused the tea party of

being responsible for the shooting of congresswoman gabby giffords. this is the man, says there was no shame in reaction of 9/11 and denounced bernard kerik and rudy giuliani and president for their response to 9/11. this is a man who has said that donald trump's election is illegitimate. he is a left-wing radical. the media loves him for that reason. he is an economist who is constantly wrong. hey, welcome to today's media. stuart: what was that number you gave us last time you were on the show? was it 92% network coverage of donald trump is negative? was it 92% or 95%, but it was way up there, i know? >> stuart, it is not changing. every month we look at this. last month it was at 91%. it has been 90% average this year. in the campaign it was 91% the

only time donald trump got good press, relatively was in his first month during the honeymoon period it was only 89% negative. they hate this man. this man could single-handedly the cure for cancer and they would attack him for not finding the cure for heart disease. stuart: that's good. that is sarcasm. i like it. i just love it. another one for you, brent, a cnn reporter mocks the president for helping senate majority liter mcconnell helping up the stairs. that hand-lock between trump and mcconnell though. is it to dismiss it. mcconnell by the way is a polio survivor. your reaction please, brent. >> there is "new york times" told its reporters to not to use

twitter and social media. social media gives you the platform to give your personal beliefs that an editor can't catch. that was her smarmy, sarcastic, dismissive belief of mitch mcconnell. this is the political reporter. you would think she would have something better to cover. here is the telling thing. she kept that tweet on there for 24 hours. she was denounced left and right by other liberals, "the daily beast." they were pointing out this is outrageous. she kept it on for 24 hours. again where is the apology. stuart: good question, bret. i don't have an answer and don't expect an answer either. brent bozell keeping track of the media's contempt for our president and a great job you're doing. >> thanks, stuart. stuart: new numbers on the nfl from gallup, the polling people. 57% of people say they are now, now,nfl fans. that is down 10 points from five

years ago. herman cain with that in just a moment.

stuart: how about this for the nfl? a new gallup finds 57% of adults identify as professional football fans. that is down 10 points from five years ago.

this comes after news the nfl will not force players to stand for the anthem, prompting this tweet from president trump. here it is. the nfl has decided that it will not force players to stand for the playing of our national anthem. total disrespect for our country. herman cain, my point, don't miss politics with sport. and if you do, you and the sport both lose. >> absolutely. here is what is messed up about this whole narrative. it started with colin kaepernick making a state that was a lie when he said he was kneeling because of injustice in america. there is no rampant injustice in america. a lot of people took that lie, got on the bandwagon and didn't know what they were getting on the bandwagon for. then they tried to extend it to all of these other social issues. that is how this thing got blown out of shape. the nfl is acting spineless, to use his words, in terms of dealing with it directly. i'm with you, when i watch a

football fame -- game i want to be entertained, not angered by their political stance. >> as the support for nfl was going down 10 points, fans of college football was going up two points. >> that's right. stuart: no politics in college sports to my knowledge. >> no politics in college sports. here is where i believe the owners and nfl is making a big mistake. they believe it probably bottomed out. i don't think it has bottomed out, absolutely not. the people are voting with their tickets, their ticket sales. they're voting with the tv sets. if they continue to allow players to kneel, they could lock arms all they want to as long as they're standing for the national anthem. that is the respect that people want. they don't care about locking of arms. stuart: you think tv ratings are going down some more? >> i think they will, if they see people kneeling, they show that on tv, they will go down more. stuart: herman cain, had 20 minutes, with us. you did well in my personal

opinion. thank you for being with us, sir. >> put the check in the mail. maria: good luck on that. [laughter] stuart: show me where where thet will open. we'll be up 100 points for the dow industrials. stay right there, we'll show it to you live.

♪ stuart: stand by, sports fans. in 10 seconds we will open the markets. [opening bell rings] i confidentially predict we'll be above 23,000. i hope i'm right. we are off and running. we are opening up at 23,000, up 94 points from the get-go. that is not bad. any advance on that, please? do i hear 100? thank you very much, rain. 23,097 is where we are. the s&p is up three points. that is an all-time high. nasdaq up nine points. and another all-time high for nasdaq composite. go back to the dow, it is getting a boost from that stock, ibm. it is up 7%, that is a huge gain for a company of that size, $10

higher. that puts 50 or 60 points on to the dow industrials. ibm, not bad. who is with me? ashley webster. elizabeth mccdonald, and shah galani. big smile. you saw this coming. >> the market is acting this way. wanting to go up. earnings have been good. no reason to go down every time it dropped a tiny bit. buyers are bidding it back up. tech stocks had a little bit after faull back. we got taken out of two our positions, apple and amazon. we're back again. stuart: hope you followed that. liz, did you see this coming? >> we're talking about the fact that the right trade over a year is to stay in this market. i think what is remarkable, we have a lot of things going wrong and horrible storms and fires, dreadful things happened. the market hasn't budged. it doesn't budge on north korea and doesn't bum on shooters in

las vegas. americans are more optimistic than they have been since 2000. that is amazing. stuart: isn't it time to be a little bit cautious? a lot of our viewers, said i made a little bit of money. i'm doing okay. ashley: depend on what our timeline is, if you're retiring in a year, you may want to cash in. stuart: someone at my age, could be -- stop looking at me. might say take profit off the table and -- >> take profits if you have stops. let market do what it is doing. if you get out now, might miss the next leg up. might be year, two years. market is prone to pullback from something extraordinary now. good to have stocks and be protective. >> everything is expensive. not like a lot of other investment categories have not gone up. everything has gone up. parking your money somewhere else is a tough gain. stuart: want to ask you about ibm. it is up 7% as we speak.

>> huge. stuart: we always think of ibm as old tech. perhaps we shouldn't do that, but we do. that is old tech. do you think this signals a resurgence of old tech? >> that is a heavier lift. stuart: it is. >> i would say this is resurgence of ibm possibly because they made a huge investment in artificial intelligence and strategic operatives. this watson thing is gigantic actually. i'm involved with a school doing a project with them in the retail sector. watson is going to figure out the best way to create a design and put it all the way through the retail channel. it is genius. stuart: really. >> we think of it winning jeopardy. liz: ibm is part of a broader story of revenue growth. bottom line yes, but the top line was missing last five years, six years, ibm saying in fourth quarter, may for first time in five 1/2 years increase sales.

>> the stock is a dog. has been a dog. this notwithstanding this stock is a dog. they spent over $110 billion since 2000 on buybacks. that company could have gone to erase debt. i think the company is making big mistakes. stuart: we spent all the time fixing your microphone to say ibm is a dog. >> growth in revenue was from mainframe sales. that is cyclical business. liz: that could be software sales. move on. stuart: got to talk the market down. johnson & johnson, now they have won, looks like a big win, big reversal of a verdict on tall come powder. tell me. ashley: the missouri court of appeals reverse ad recent verdict where the family of jacqueline fox, she was 62 years old. she died four months before the trial began. she used these call couple powders of johnson & johnson. shower to shower, baby powder

for 35 years. she claims that gave her ovarian cancer. she died. the jury awarded her family, 2 -- 72 million. 62 was punitive. the supreme court said you can limit where you file lawsuits. they don't like it coming out of another state. the award was done in st. louis. the supreme court has spoken, you will have to refile somewhere else. does this mean johnson & johnson are off the hook? no. they have 5,000 lawsuits out there. stuart: the stock is up 40 odd cents. liz: this stock drove the dow higher along with unitedhealth. stuart: they did? let's regroup, everybody, for benefit of our listeners on xm satellite we are now up 113 points. the dow industrials standing at 23,111. how about that? ashley: 800 points and 24,000. stuart: we have the graphic

ready. all right. we cover all the markets. look at price of oil this morning we're at $52 a bearable. yes we are. how about the price of gold? down some more at 1284 on gold. don't ever forget about general electric, still struggling along at $23 a share in this huge up market. that is where they are. ford recalling over a million vehicles. they need to add a water shield to side doors. f-150s and super duty trucks -- liz: you want to do that all morning. stuart: 1.3 million recalled. why is the stock up? i'll tell you. very few people take things in for recall, you know full well, go to a dealer he find something else needs to be fixed for a little extra money. ain't that how it works? >> yeah. i have had that experience. it terrible. stuart: the stock is up. i can't believe we're giving publicity of this, starbucks reportedly, tension is rising, they're rolling out a zombie

frappuccino that will look like human brains. liz: what? just in time for the breakfast sandwich at starbucks. stuart: i'm sorry, viewers. my producers made me do it. "variety" ordered a series with kerry washington as producer. liz: scandal was a abc hit. and a thriller. she will produce for facebook a show about five teenagers living in chicago. an event happened, they have all different points of view of what happened. it is about finding the truth in the inner-city of chicago. stuart: facebook at 176. all-time high. liz: facebook stepping in to the content wars. >> as is everybody. it is crowded field on earth. i think it is interesting. stuart: why does netflix keep going up if everybody is into streaming and content?

>> subscriber base in netflix keeps growing. that is why stock keeps growing. they are losing money on revenue but -- stuart: ibm is a dog. >> yes it is. so is ge. stuart: look at this, look at this, bottom right-hand corner, radio listeners listen up, we're up 121. that is exciting. >> it is fun. liz: if you listen to paul krugman you would have missed out on 5.2 trillion upside. ashley: one more stat. stuart: wish you could bring amazon's lex is a in the car with you -- alexa? do you? yes you can. ashley: don't we all. you can get the garmin speaks. a garmin, the gps company, teaming up with amazon's alexa, take it along with you in the car. use it like the echo at home. you can say a lex sachs i want to listen to this music, listen

to this audio book, what have you. what is interesting, they're integrating the home service. you drive away, god i left the lights on. i didn't lock the door. you can say through garmin, alexa, please lock the front door or turn lights off. >> it is getting crowded, right? >> can anybody around this table you will get and a lex is a in the car, drive away from home, oh, i forgot to turn the lights off. you will not. >> this is absolutely brilliant idea. for both amazon and garmin. garmin is a great stock. we don't own it. liz: alexa listens to everything you say. fights with your wife over directions. you will have alexa listening to that. >> here is the real thing, wait a minute, the next round of automobiles will have this technology. they will not need garmin or alexa. already your car is parking for you and finding your directions.

seriously what is the difference between what you have in your car right now, basically saying hey, find me directions to so-and-so? find nearest dunkin' donuts. exactly. >> combining the all services into one neat service for $149. >> liz: any of you buy it? >> stop shilling. being in the car. stuart: this is extension of voice activated computing power from the home to your car. ashley: exactly right. >> that is what it is. stuart: maybe one day i will plug in. oh, look, it is 9:40. we've been on the air with the ten minutes with the market open. we have to say good-bye to liz peek and shaw falawn any. >> you have to get rid of these disruptive voices. stuart: liz is the the usual disruptive voice. >> yes i am. stuart: we're up 110 points higher for the dow. 23,107.

mcdonald's wants to put down your phone when you eat a big mack, in singapore, installing smartphone lockers at some of its restaurants. walk in, put phone in locker. lock it up, so you can't talk to friend and family on the phone while eating in mcdonald's. do you think that will fly in america? president trump wants you to pick up the phone and call your senator. tell him you want a tax cut. you will hear all about that after this. ♪ alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.

stuart: 111 points. 23,107, this is continuing rally. mcdonald's is encouraging customers in singapore to put their phones away and talk to one another.

sounds like a rotten idea to me, nicole, but what do you say? >> put your phone away. they say phone off, fun on. that is the slogan that goes with this thing. very interesting. they're trying this out in singapore but this could come to a mcdonald's near you. they have these lockboxes where you put your phone in, lock it up, and supposedly, you're going to have a great time. when they did their survey of the folks, over 300 parents, turns out everybody is using their phone. first, start with the children. well 72% of the children were using their phone during meal times and 69% of the parents. the idea is to get talking once again, find your family. lock it up. and have a great time. we'll see how this one flies. stuart: yes we will. >> i don't know, what do you think? stuart: we'll see. what do i think? i have no problem with phones in use at mcdonald's while we're eating our big macs.

no problem whatsoever. ashley: i think it's a good idea, so there. stuart: you hadding to argumentative. ashley: of course. talking to each other. what a concept. stuart: thank you. president trump pushing for tax cuts. he is urging voters, call your senators. roll tape. >> so you have got to call up your local senator and say, senator, don't give him a hard time. don't give him a hard time. it will be hard getting the democrats because they're obstruction is and they vote in blocks. but if we get the republicans we need, which is virtually every single one of them, that is what we need, we will get that largest tax cut in the history of our country. stuart: all right. let's bring in a good friend of the show, senator john kennedy, a republican of course. senator, welcome to the show again. do you think that as of right now the president's tax cut plan, i know we don't know the

details, but do they have 50 republican votes in the senate to say yes on the tax plan? >> before i answer your question, stuart, i want to thank you for the question you gave me to ask equifax last week. stuart: you did ask that. i know you did. >> i'm not certain, but i think i'm going to see the vice president today at lunch. if you have any vest for him, i hope you get them to me. stuart: let me think about that, thank you, sir. >> to answer your question i don't know if we have the votes. i'm not saying we don't. i don't know yet but we better. we better. we have to do tax reform. no excuses not just for our party but for the american people. i mean the economy is growing at 1.9%. to get it back to a normal 3% we have to let people and businesses keep more of their money. that simple, have you been hearing from your constituents, voters in your state, have they been calling saying get it done.

>> absolutely. my constituents do not understand why we have a republican majority and we can't deliver. they're wondering how some of us made it out of the birth canal on our own. what is so hard. put together a deal, walk down the aisle and vote yes. they're frustrated and i'm frustrated and the president is frustrated. stuart: why haven't you got it? >> we have 48 folks that understand, 80% or 90% of something good is better than 0% is good. don't let perfection be the enemy of the good. i would not tell my colleagues how to vote but i want them to follow their heart and take

their brain with them. we have to do tax reform. and i'm not buying, i ado this respectfully, i don't agree with senator mcconnell and president trump we have until christmas. i think deadline should be thanks giving. let's work nights, work weekends and let's get this done by thanksgiving. no reason we can't. stuart: senator, hold on a second, i have to break in for some breaking news here. president trump just tweeting this on obamacare. here is the tweet. i am supportive of lamar as a person, lamar alexander, as a person and also of the process but i could never support bailing out insurance companies who made a fortune with obamacare. i know you're just hearing this for the first time, mr. senator, but what is your reaction. >> i think that probably kills the effort. senator alexander and senator murray have worked very hard. i'm not sure what all is in their proposal. i understand the money we have to pay.

i want to know what the american taxpayer is getting for it but i think if president trump has come out against it is academic question now. my guess is the effort is dead. stuart: senator john kennedy always a pleasure. >> thank you, stuart. stuart: thank you for passing along that question. i don't have one for vice president pence. try to think of it. >> just text it for me. i make sure get you an answer, stuart. stuart: thank you very much, mr. senator. very responsive. thank you, sir. all right, check the market. this is rally 1/2. we're up 112 points. 23,110. cnn reporter blasting, a cnn reporter, i should say, blasting epa administrator scott pruitt claiming pruitt wants to let a mining company destroy pristine alaskan wilderness. john stossel is not buying that. the only scandal here is cnn's hit job on the trump administration. stossel after this.

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is here. he knows the true story. tell me. >> the true story is obama's epa broke precedent, before this company could even submit an environmental impact statement, which is the standard, they submit it, then the government says okay or no, they said, you can't even submit this report pause, the regulators had been colluding with groups like the nrdc, rich environmental groups made up mostly of lawyers. they don't want mines anywhere. in you don't believe it, i have interview. you approve mines somewhere? oh, sure. >> name one. >> i will get back to you. they never did. stuart: this is the epa under president obama saying no, before you even think about submitting a plan, don't do it because you're not going to see it. >> pruitt says you can submit. cnn spins this as, going to let this company, mining company,

read you some of the quotes. epa staffers were shocked that protection of this pristine area was being removed. they even used the language from the rich environmental groups. it is just a smear. stuart: but it is not an oil-drilling operation? it is not a natural gas operation. they mine for -- >> even if it were. stuart: but they actually mine for gold and stuff like that, minerals, copper. >> copper. goes into solar panels that they so -- [laughter] stuart: why are they doing this? what is going on at cnn, the clinton news network? >> it is not just cnn, the liberal media culture. business is bad. they want to destroy the environment. if they keep increasing then pristine areas will be destroyed. stuart: i'm intrigued by rich green lawyers driving this train. >> nrdc is not scientists. it is mostly lawyers. it used to be nimby, not in my

backyard. not banana. stuart: what is that. >> build absolutely nothing anywhere near anybody. stuart: we'll play that over and over. i might make that into a ring tone. i hope you're not a stranger. >> love to. stuart: got it. more on this story with tom collier. he is the chief of that mining company, pebble mining. he, tom collier, later on today. my take next. my editorial. everything is political, sports, football, hollywood. frankly i don't think the country likes it. turn us on with your talent, not with your preaching. that is what i'm about to say. liz: that is fantastic.

(ch(baby crying)eat) ♪ fly me to the moon ♪ and let me play-- (jet engine white noise) (airline "ding") (bell mnemonic) . stuart: everything is political these days, and i don't think america really likes it. look at this. it's a poll.

the question? are you a fan of pro football? five years ago, 67% said "yes." this year, only 57% said "yes." why the drop? bad publicity and players involved in violence, they clearly were a factors. but the biggest reason is surely the anthem protests. players bringing politics to their sport. significantly, support for politics free college football has gone up. my opinion? you're great players. stick to playing. keep politics out. now look at this. stephen colbert hosting the emmys. what was supposed to be a celebration of tv talent became an antitrump festival. pure politics. he was trying to show the moral superiority of hollywood. it received the lowest ever tv generating. the golden globes, brilliant actor meryl streep proclaiming harvey weinstein is a god. oh, dear. how many times have we had to sit through political lectures

from actors? you had enough? all those people who kept quiet about weinstein had no right to preach morality. my opinion again. actors act. turn me on with your talent. don't turn me off with your politics. the second hour of "varney & company" is about to begin. ♪ ♪ . stuart: it is a rally, and a big one. we're up nearly 120 points on the dow. that's a half percent. we're well above 23,100. how are those tech stocks doing? not that great, actually. they are all down. big gainers over the past 18 months, losers today. not by much. significantly, though, they are all down. how about old tech, as in ibm? that stock is way up today. look at that.

8.5%. ashley: that's about two-thirds of the gain on the dow. stuart: you're right. two-thirds of the gain on the dow is ibm. up 12 bucks. that is huge. 8.5%. oil, we'll get the latest read on how much we've got in storage. right now, the price of oil is 52 bucks a barrel. joining us, managing director at moodies. all right. john, stocks hitting record after record after record, is there any hint of a pull back? >> nothing that i can see on the horizon. profits are expected to grow and the perspective increase by interest rate should be relatively mild. stuart: so that's it. i mean, profits are good, interest rate hikes will be good for financial stocks, we're getting a tax cut, that's it. >> the only problem might be an adverse external shock of some sort. something in north korea. other than that, it looks pretty good in the months ahead. i see no reason to sell. i see no reason to take profits. stuart: really? you're a strong guy. i've got to say. listen to this one. this is a quote from new york

times columnist paul. this is from november last year election time. here it is. it really does now look like president donald j. trump and markets are plunging. he said that on election night, actually. if the question is when markets will recover, a first pass answer is never. how come the man is so wrong? >> well, you know, a lot of other people were wrong election night. markets were plunging, people were enlightening, bond yields were sinking, we expected selloff. the exact opposite happened. stuart: he said never recover. >> never recover. absolute nonsense. i mean, we've had -- we're benefiting from deregulation and perspective tax cuts. improved business confidence and a record high equity market is good as far as business confidence goes, at least in more jobs and more capital spending. stuart: i think he let's his contempt for president trump getting away of investment

judgment. that's what i think of paul. he's a leftist right through and through. now, president trump says tax relief will be the best quote christmas present of all, and here's what republican senator john kennedy told us last hour. roll that tape, please. >> i don't know if we have the votes. but i'm not saying we don't. we just -- i don't know yet. but we better. we better. we have to do tax reform. . stuart: all right. joining us now, charles hurt. washington times political columnist. all right. charles, what do you say? are we -- you know politics. you know it from the inside, you're in dc, you're a swamp dweller, no offense. from the inside, do you think, yes, we are going to get tax cut legislation done this christmas? >> i think they will definitely get something done, and i think it's exactly why what mr. kennedy said there. if they don't get -- if they don't get tax reform done, republicans are done. they're absolutely finished. the boot is on their neck when

it comes to this. i think it was bad enough with obamacare. but this is right inside their wheelhouse. tax cuts are sort of the mantra of the republican party. and if they can't produce this when you have republicans controlling both chambers of commerce and the white house, there's no reason to vote for any republican ever. stuart: okay. hold on a second, charles. i've got john with me. are we going to get a tax cut deal done by christmas? >> the congress very much wants to get it out of the wa w. stuart: are we going to get it done? >> yes. stuart: your judgment is, yes, it gets done. >> yes. stuart: because the republicans have no choice? >> they have no choice, and i think they're under a lot of pressure because of the mess they had with health care. stuart: i think that's one of the reasons the dow is up now 120 points, 23,117. that would be my opinion. all right. john, president trump just tweeting this on obamacare. it's coming thick and fast this morning. i am supportive of lamar -- lamar alexander, the senator, as a person and also of the process. but i can never support

bailing out insurance companies who have made a fortune with obamacare. charles, this sounds like the end of this bipartisan deal to get something done on obamacare. >> well, the outline of the plan that we have -- started emerging yesterday was sort of a strange deal to begin with because it wasn't repealing and replacing obamacare as republicans have promised for seven years now. it was basically legalizing obamacare, legalizing the parts of obamacare, these payments that were clearly unconstitutional, that the courts had looked at, and that president obama had just sort of penciled in there after the bill passed. and the courts looked at it and said this is illegal. this was just going to be sort of legalizing it. so it it was a very -- i don't understand what the deal was to begin with or why any republicans who had promised to repeal obamacare would then turn around and say, well, we couldn't repeal it, so we're going to legalize the parts

that are clearly illegal. and i'm heartened to see that donald trump is at least casting somewhat of a questionable eye on this thin t. stuart: at the top of the hour, my editorial, we call it my take. i was saying everything's political these days, and i think people are getting tired of it. hollywood, sports, the anthem. i think people are tired of this. they want to keep politics out of hollywood and out of the oscars and out of the emmys and out of sports. you with me on this? >> i think you're exactly right. and i think the people are so sick and tired of all of this nonsense that they're even tired of politics in politics. and that's why donald trump got elected. he walked out there, he had 18 republicans he was running against, he beat every single one of them, and then he beat the most prized politician of the past quarter century in america, beat her and beat bernie sanders. he beat all of them, basically for -- it wasn't because he's a, you know, polished ecause he was notor anything

political and people are just so tired of all of these people, they're tired of all of the politics, and they wanted something different. and they got something different, and it might not always be pretty, but it's different, and that's what people wanted. stuart: i'm very sorry i called you a swamp dweller. i've got an update on bob weinstein, harvey's brother. liz, what's the latest report on him? liz: amanda siegel. she's a tv producer for a show on spike tv accusing bob weinstein now of sexual harassment saying he was overbearing, kept pressuring her to go on dates. his lawyer coming back saying there was no unwanted or inappropriate touching. no interaction between them. we will fight this. we have e-mails to prove it. wall street journal, though, running out another column saying bob weinstein was a bullying, overbearing, inappropriate boss. stuart: okay. charles hurt, come back in, please, because i want to tell you this: i don't want to listen to another moral lecture from hollywood ever, and i'm sure

you're with me. >> yeah. these people are such pigs, but i have to say that the silver lining to all of this is that it is exposing these people for the frauds that they are, the frauds they've always been, and quite frankly, i think a lot of people know it instinctively at some level. the only people who seem to not know it are hillary clinton and the people who use am these people as bag men to give them huge amounts of money, and they, of course, love being around hollywood elites because it makes them feel like movie stars as well. stuart: well, charles, i will also say this. it is also exposing the depths of sexual harassment, and that is a good to thing expose this dreadful story. >> absolutely. and the hypocrisy, the hypocrisy is just astounding. and it really is a -- it's truly disgusting. stuart: thank you very much, charles. we do appreciate you being with us every week. good stuff, sir. thank you. coming up, the irs reducing to

give back $59,000 that it sees. no criminal activity was found in the investigation. it is a man's gas station. we'll talk to his attorney. why didn't they return the cash? we want to know. and president trump will meet with the senate finance committee next hour, hoping to get tax reform done by christmas. we're all over this one and so is the market, by the way. and a report out from the white house says the trump tax plan could put $4,000 back into working families' pockets. kevin is the chair of the economic advisers. he did the math. he's with us later this hour at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be.

. stuart: triple digit rally holds up 104. 23,100. that's where we are. look at express scripts down after anthem announced it will set up its own pharmacy

benefits unit. anthem asking cvs to help manage billions of dollars of patient prescriptions. anthem is up even more. a 4% gain there. another defeat for isis. looks like they're just about done, doesn't it? u.s. -backed forces capture raqa from isis? ashley: yeah, the capitol of isis. and, look, the empire or whatever you want to call it of isis is largely destroyed now. there are concerns that a power vacuum in libya is now fresh ground for them to try to exploit. they're just reduced now to their internet network of trying to recruit new jihadists over the internet. but as far as on the ground, it's been a long, slow churn of defeating them every step of the way. so, yes, raqa was the last symbolic, if you like, city to fall in the hands of the allies. but, listen, they're still out there. we are expecting a wave of attacks on western capitals as a kind of message that we're still alive, and we're still

working to your destruction. but on the ground, this is a humiliating defeat for isis. and really, the beginning of the end as far as territory goes. stuart: i would like to see them marching out of raqa with white flags. that's what i would like. liz: and muslims help defeat them; right? the u.s. -backed forces. stuart: yes. but it was president trump who said we're going to destroy them. liz: yep. stuart: and we did. ashley: yes. stuart: we should note that. i find this unbelievable. it's another nightmare story from the irs. listen. a south korean immigrant moves to the u.s., he joins the military, he's honorably discharged, he becomes a citizen. he opens a gas station, his piece of the american dream. then the irs ceases $59,000 of his belonging without any criminal wrongdoing. and, by the way, they're not giving it back. the lawyer representing the gas station owner his name is edward griffin. he is the lawyer with us now. edward, thanks for joining us this morning. i really can't believe this. what's the explanation a, for

taking the money and b, font giving it back? >> well, good morning and thank you for this opportunity. the irs ceased this money under the structuring laws. what they accused him of is structuring his deposits as a gas station owner, he received a lot of cash. all of it was properly accounted for. it was honestly earned. but what they said is you deposited it in less than $10,000 amounts to avoid bank reporting laws, and that's a federal felony offense. stuart: and the bank, i believe, suggested that your client admit guilt, yes, i did put money in there less than $10,000 a pop in cash, and it was at that point they swept the money away. that's what happened? >> well, the irs ceased the money. they froze it, they ceased it, and, you know, it's part of his plea agreement that happened back in 2011.

that's how long this case has been going on. they got to keep that money. the -- stuart: well, can't you get it back? there's no wrongdoing here. none at all, certainly that you know of or that the public knows of. they've got the money. why can't they give it back? what's the excuse font giving it back? >> there's no good excuse for them not giving the money bac b. stuart: what are they going to do now? the man's wife died during this mess, and he declared bankruptcy. >> she did. it wiped them out. they ceased his entire operating account. he had no money to buy gas, no money to be able to pay rent. he lost his business. the behavior here was just shameful. . stuart: and the suspicion was that he was avoiding taxes. is that it? >> that's why they have these structuring laws in place. it's to go after terrorists. it's to go after money launderers and drug dealers. not to go after your local gas

station. it's a terrible abuse of power in this case. stuart: it is. i have one last question for you, edward. what are you going to do now? >> you know, the one thing that could really help would be a presidential pardon. these are federal crimes and the only person who can do something about it would be the president. . stuart: okay. >> we've also appealed the case to the irs, and we're continuing to try to fight it, and we really appreciate putting the pressure on them and hopefully make them give the money back. stuart: edward griffin, we wish you and your client the very best of luck because i think justice should be on your side. thank you, edward. we appreciate you being here. >> yes, sir. thank you very much. stuart: okay. next case. apple seriously considered moving into the health care market. really? liz: yeah, apple-branded kiosk instead of, you know, you go to your apple store to get a health checkup. they were talking to this medical clinic called crossover also another company called one medical.

so apple is seeing technology benefits here. you know, you have the apple watch, you have the apple company working on sensors that could detect diabetes. i mean, this -- and this comes as amazon is reportedly moving into selling pharmaceuticals. and amazon lured away from blue cross, blue shield, the top executive there. so that looks like that could happen as well. stuart: i don't have any problem with the big technology companies loaded up with cash putting some of that cash into other areas like health care, for example. ashley: like saving lives. stuart: like saving lives. what's wrong with that? microsoft is putting billions of dollars into the search for cancer, on cancer. ashley: great. stuart: i think this is a good thing. i don't see any problem with this. liz: if you can get technology to show people what you could become ill from down the road through dna, that's a big dea d. stuart: it sure is for the future, especially. liz, thank you very much. liz: yeah,. stuart: coming up, red tape preventing much-needed aid to puerto rico. we have details on that in just a moment. stay right there, please,

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. stuart: chipotle stock is down nearly 2.5%. why? well, they got a downgrade to underperform from bank of america in an up market, that stock's down seven bucks. now this. i'm going to update the situation in puerto rico. there is a hospital ship off the coast, but it is mostly empty. why? liz: this is the naval floating hospital ship. it's state-of-the-art. red tape. this is a disaster of red tape. stuart: who's red tape? liz: puerto rico's red tape. the governor of puerto rico is saying there's a problem with

communication between our hospitals and medical clinics who have been hit hard as to who gets to go to that ship to get service. but it's something like 13 of the 250 beds are only being used right now. it has already served 100 patients. so, you know, it's about bureaucratic problems trying to get people to get onto that boat off the western coast of puerto rico to get help. i mean, the federal government is giving help into puerto rico. it's, like, how do you do it, puerto rico? those people need help onto that ship to get assistance. stuart: it's not laughable, but it is. ashley: yeah. government bureaucracy at its best. stuart: and then we have johnson & johnson. they won a reversal on verdict on powder and cancer. ashley: it was the state of a alabama woman who died of ovarian cancer. the family was awarded $70 million. well, the supreme court said the missouri court of appeals looked at this award and said this case really shouldn't

have been tried in missouri. and so they reversed that decision. does that mean that johnson & johnson are off the hook? not at all. they've got close to 5,000 lawsuits dealing with this issue of powder and whether it can cause ovarian cancer. so, yes, it's a victory for johnson & johnson in the short-term. but this issue isn't going away. stuart: that's why when i first saw that report, johnson & johnson stock did, in fact, go up. ashley: it did. stuart: then you read into the details. ashley: wait a minute. stuart: the case is not over. ashley: it's unclear. stuart: it's tried some place else. ashley: the family said they will likely appeal. they could file in alabama. a lot of suits have come through missouri and california because so many plaintiffs, they kind of just decided to use those states to make their case. but the supreme court kind of through a cat among the pigeons when you rule you can't always file out of state injury lawsuit. liz: something like 5,00 5,000 cases still? . stuart: yes. ashley: a link between powder.

stuart: not over yet. ashley: no. stuart: and, boy, i see some of the big name technology companies have reversed course. i now see facebook on the upside. i think it's a new high at 176.33. microsoft is now up 12 cents. 77.71. i think that's another win there. ashley: amazing, isn't it? any downturn. especially in tech, people look at it as a buying opportunity. stuart: it was a downturn for the first half hour of business this morning. now a modest upside move for facebook, microsoft, and alphabet. good stuff. the nfl says it will not penalize players for kneeling. the president doesn't like it. we're going to tell you what he said. and trump talks tax reform with brian kilmeade. kilmeade will join us next as well. back in a second

. stuart: okay. okay. i know. you put it in my ear. great voice. check that market. yes, still a triple digit gain. 108 points higher. 23,100 already. weekly oil inventory, this is the economic indicator. how much oil have we been using? ashley: a huge draw down of 5.73 million barrels. even more than the anticipated draw down, which you can infer that, look, the economy is starting to fire on all cylinders, so demand for oil goes up, so that's an indicator i think of the border economy. but, yes, bigger draw down. stuart: it is an economic indicator, and we should recognize this. by the way, gasoline, how much gas we've got in storage. that actually went up,

implying demand wasn't that strong. ashley: not driving as much. stuart: maybe so. i don't know. but the oil number is an economic indicator involving some strength in this economy. ashley: yep. stuart: all right. back to the market. we're still up 108 points. news had no impact on stocks. but i will tell you that the big name technology companies down, the start of trading today. some of them have reversed. facebook, microsoft, alphabet, all of them on the upside. small loss for amazon. small loss for apple. ibm, stock of the day. they're pointing towards better sales and profits in the future, not in the past, in the future. that's good enough for an 8% gain. twelve dollars higher for ibm. ibm is a dow stock. and ibm's performance today accounts for some of the dow industrials gain. next hour, president trump will meet with the senate finance committee at the white house. the president tweeting again this morning quote if democrats will only vote for tax increases, hopefully, all

senate republicans will vote for the largest tax cuts in u.s. history. now, blake burman is at the white house. he's going to lay out the agenda for us today. but as i understand it, blake, some democrats will be at the meeting of the white house today. >> yeah. the senate finance committee will be here talking about taxes, of course, stuart. that's kind of the highlight on's agenda today. he's got that this morning. a phone call as well with the iowa governor. so probably the epa will come up. but as tax reform comes into the focus today, it is the senate finance committee members from that committee coming over here to the white house to talk to the president. i have to tell you, stuart. this is one of these days that kind of makes us a bit nervous as reporters. nothing on the schedule past 12:30, so what happens this afternoon? wait and see, i guess. stuart: maybe he'll come out to the rose garden again and just give you an impromptu gaggle press conference. who knows? >> if we get one of those again, stuart, i might just need to sit down and have a nap and take a breather. stuart: you enjoyed it.

come on. >> a lot of fun. a lot of fun. stuart: yes, i mean, it's so totally different from any presentation that president obama gave. those were studios responses. five minutes each to a ten-second question. it's all changed. >> we had no idea that was happening, stuart. all of a sudden it was, like, get out to the rose garden. we said, oh, my god what's going to happen here? 45 minutes later, it was a highlight real. stuart: you know, it's fun covering a live action presidency, isn't it? >> best job i've ever had. stuart: me too. funny you should say that. blake burman, we're going to be back to you later. thank you. >> thank you. stuart: stay on taxes and economy because there's optimism in the air. the president is taking a very much hands on approach. he's promising a christmas present this year. joining us now, republican congressman andy biggs from arizona. congressman, we said so many times we ought to. we must. we should cut taxes. will you tell us definitively that, yes, we will be cutting taxes this year. can you say that for us? >> well, i can say it for you,

and i believe it. but there's still this small cloud that's there, and that's u.s. senate and what they're really going to do. but i'm all in for it, and i think by far, most of my colleagues in the house are in for it, and i've got to believe most of the u.s. senate republicans are as well. we've just got to get the last two or three across the line. stuart: but has the message gotten through to the republican party? especially in the united states senate? this is an absolute must. you cannot turn down tax cuts at this -- has that message gotten through? >> i think it has. i believe it has because everybody i've talked to from that side, they're committed. they want to get something done. and so i'm hoping that they'll put pedal to the metal, and let's get this thing done sooner rather than later because the market that you're talking about today, the economy that we're going to do today, seeing expand, it's a result of the promise, i think, of lower regulations -- fewer regulations and lower

taxes, better tax reform. stuart: yes, sir. the plan -- now, we don't have the details, but we've got a rough outline. bring the corporate tax rate down to 20%. maybe a tax holiday for corporations to bring the money back from overseas. lower rates for individuals abolish some deductions. that's the broad outline. you have any problems with that, congressman? >> not at all. not at all. and, you know, my colleagues feel the same way. you know, we're going to get more details. we're hashing it out trying to get that bill done. but you know what? who should -- nobody should be defending the current tax code. we need to be more advancing this -- we need to advance more. this current plan. and everybody seems to be for those basic framework positions. so i've got to believe we're going to get something done. . stuart: well, we're all -- look, i personally, i'm gung-ho for the trump tax -- the trump growth agenda because we're on track to get

that done, that's why this market is going through the roof. last word to you on the trump growth agenda. >> yeah. absolutely. i'm a total buy in for it. i'm -- this is what is propelled our economy. it is what will take us up to, i think, which is more normative, which is a 4 and 5% gdp growth rate. i really believe that. stuart: you could lift the market with a word like that. 4 or 5% growth, that helps that market, and we're up 114 points. congressman andy biggs from arizona. thank you for joining us, sir. joining us now. brian kilmeade who spoke to the president about his tax plans. before we get right to brian, roll that tape with the president and brian. trump: the problem is we have no democrats. we have absolutely no democrat votes. brian: have you tried? trump: yeah, we tried. they're in a block. we have 48 votes and all they want to do is obstruct. now, i think we'll have democrats if we get through the budget. you know, we have to get through the budget

first. if we get through the budget, we'll have taxes. i think we'll have democrats, especially in states where i did very well. stuart: okay. come on in, brian because the president has got to be meeting with some democrats on the senate finance committee in the next hour. i presume that helps. >> i think it does. and i think a couple of things are going on right now, and i think there's a lot of democrats up for election waiting for an issue that they can feasibly jump to the republican side. and joe manchin told me off camera, listen, i'm ready. just give us a little something, and i could help deliver six to eight democrats. now, i was told by a savvy political insider that means three to four. but he can deliver if there's some play in negotiations on rates, and we saw senator brown today with steve come out and say "listen, i like a lot of what the president said in his forbes interview and what he said in his speech at heritage yesterday. i get the sense that maybe there's some lawmakers tired

of doing nothing waiting for the next election. and everybody agrees, stuart, you need some type of tax reform. what blows me away -- and you're the business guy -- is how democrats feel as though a reduction in the corporate rate benefits the rich. no, it's the corporation. the corporation, the company. the people that work there aren't all rich. the people who invest in that company aren't all rich. and if you buy into the theory that money's going to come back and investment's going to come in, it will be more competitive. that's not for the rich. stuart: right. the class warfare approach does not work. it hasn't worked for a long time, and it certainly doesn't work now. all right. i've got another one for you. president trump tweeting this morning on the football and the national anthem. here's the quote. the nfl has decided that it will not force players to stand for the playing of our national anthem. total disrespect for our great country. brian, my opinion is stay away from politics. if you're in sports, and you're good at it, play that sport. but, please, steer clear of politics. what say you?

>> well, number one, it's so intertwined in the game in uniform with the mouthpiece in, you're taking a knee with the eye black on during the national anthem. i don't care what your protest is. i can't get over the disrespect for the flag. and, stuart, you've asked me this, and i've been pretty consistent for over a year. the president says stand. some are saying the commissioner should. the commissioner says even if you must, the players union has a say. and the players union head does not agree that they -- that the players should all stand. because that's what he's getting from his constituency. in fairness to him, if he did say that, all players stand, i agree with the commissioner, they will no longer be leading the union because the union doesn't feel that way. they are forming an activist boot camp to show players how to get their voice heard using the media and their celebrity. that's going to start in the off season, which is a joke. did anyone tell jim brown, muhammad ali, bill russell,

jackie robinson how to be an activist? it was authentic. not a guy took a whim because his girlfriend told him he didn't like the way law enforcement was acting when it comes to minorities in this country, and that's what happened. stuart: you support -- you saw the gallop poll five years ago, 67% of adults said, yeah, we're fans of football. now it's 57%. that's a ten-point drop in five years. that is huge. but college football is attracting more fans. they've gone up two points. what does that tell you? >> well, it tells me america loves football, but they also love the country, and they're forced to make a choice, and they're not happy about it. i also am very curious to see the baseball ratings. not only has the post season been thrilling, but they are really going to the degree to make this more exciting. the screens are active, there's more things from the pitch to the ball isn't the stadium. i also want to bring this up. and this is problematic.

the jaguar president apologists for his team taking a knee back on the 24th of september. man, the players aren't going to like that because they're not embarrassed, even though they stood for god save the queen, your old anthem, and they kneeled for your new anthem, stuart. so every time an owner comes out and does the opposite, the players, he risks alienating his players. stuart: what a mess, brian. what a mess. and football loses, and that's a very bad thing. brian, i'm out of time. i think you are too. but thanks for joining us as always, brian. good stuff. >> thanks, stuart. you pay me well. i don't have a choice. i need the money. i need the money. stuart: what a guy. a report from the white house says president trump's tax plan could put $4,000 into working families' pockets. kevin haset is the president chair of the council of advisers. he did the math. good stuff. he's with us next zar: one of our investors was in his late 50s

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ashley: president trump pushing for tax reform, he says, by christmas. but senator john kennedy says that deadline should be thanksgiving. roll tape. >> we do have on any given issue four or five folks that want it their way. look, i

would never tell one of my colleagues how to vote. i want them to follow their hearts, but i want them to take their brain with them. we have got to do tax reform, and i'm not buying -- i say this respectfully. i don't agree with senator mcconnell or president trump that we have until christmas. i say the deadline should be no -- thanksgiving. let's work nights, let's work weekends, and let's get this done by thanksgiving. there's no reason we can't. stuart: got it. 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. it works 24/7, and you don't have to see or handle a needle.

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activate your within. ask your doctor about once-weekly trulicity. . stuart: electronic arts, the video game people down. morgan stanley cut the price target on the stock, and it's up nearly 3%. super value. they're a grocery store chain. they've announced a deal to buy associated groceries of florida, they're a wholesale food distributer ship and value is up now 2.3%. 19 bucks a share. our next guest says president trump's tax plan would put $4,000 into the pockets of working families. joining me now, one of the people backing up that claim, he did the math. kevin haset, chair of the president's council of economic advisers. when we saw that number, when the world saw that $4,000 number, can't be true. that's nonsense. that's rubbish. would you go through the math with us and tell us how you

arrived at $4,000 extra for working families? >> stuart, you know, the basic problem which -- hey, it's great to be back on the show. this is the first time as a government employee. but, you know, as we have gone over this show over the years over this math, you know, over and over, it's basically just the case that right now u.s. firms put their jobs in ireland, they put their activity in ireland, they have the irish subsidiary sell the profit in u.s. and then the profits are in ireland. we don't get any tax and the irish workers get demand for their labor and wages go up. what president trump wants to do is reverse this offshoring model, have a low corporate tax rate here in the u.s. and encourage firms locate their activity here. once they do that, then that will drive up the demand for workers and increase their wages. there's a big literature that looks at how -- lots of other countries have done the same thing and how their wages responded, and we take a very conservative edge to that literature like the low end estimates, applied the trump tax plan to it, and it's going to increase wages for american workers by about $4,000. stuart: can i sum it up like this?

if you look at foreign countries with a very low corporate tax rate, they've got a lot of jobs. they're expanding employment. if you look at foreign countries with a high tax rate on corporations, they don't produce as many jobs. that's the gist of your calculation, isn't it? >> yes. it absolutely is. and, you know, in the report that we put out from the council of economic advisers this week right up near the top of the report, we have a chart where we looked at the recent wage growth experience of the ten lowest tax oecd countries and the ten highest taxed countries, of course, we're in that sad second group. and the gross difference between our wages are just extraordinary. they're about 3% per year. and so if you take even half of that growth difference and very quickly you get a pay raise that's much bigger than $4,000 over time. stuart: but you have to drop the corporate tax rate to 20% or less before you get that $4,000 per working family advantage. >> i think that every little bit helps.

but i think that president trump for the longest time wanted 15%, and i think there's a lot of sound analysis to support that. but 20 spears really good rate. it would have a dramatic effect on america's workers, and that's not just hypothesizing, it's hard facts. it's data. it's analysis. lots of countries have done this when they do, wages go u u. stuart: i want to ask you about what we heard a little bit about from the president about a week ago, i think it was. this idea of a tax holiday for corporations. limited time, very, very low tax or no tax if you bring the money back from overseas. is that part of the plan? >> you know, right now, people in congress are negotiating the final parts of the deal. but one of the things that they're going to have to figure out is what do we do with the 3 trillion or so dollars that are sitting offshore? how do we treat that? do we let people bring it all back at once or what? and that is something that is going to be worked out. but for sure, one of the solutions that people are talking about is having some kind of fee that you charge

once once the bill is passed, and then after that fee is paid on that previously-located broad money, then you can bring the money home right away. and if we can get that money back here and then also have lower rates so people want to be here for other reasons, then the impact on the economy and the welfare board of americans could be enormous. stuart: that's the biggest growth item in the whole plan. regardless of cuts for individuals, regardless of ending certain deductions, you bring back corporate tax rate down, and you have a repatriation idea, holiday. that's the biggest growth item in the whole plan, isn't it? >> it's an enormous growth item. whether it's the biggest, i would have to go to the blackboard a little bit and figure it out because on the individual side, there's the small business tax cut. and if you think about how much american growth comes from the entrepreneurship of america's small businesses, and that's a serious item too, and we haven't even started talking about that right now. i mean, here on the show. stuart: okay. we don't go deeply into the weeds here. >> yeah. stuart: let me just tell you this, kevin. at the moment, the dow jones industrial average is up 136

points. 23,133, and i think it has got a lot to do with the likelihood. it is now a likelihood that we get a tax cut by christmas. last word to you. >> you know, i think that we should watch closely the senate vote this week because if the senate passes a budget deal that makes the space for a tax reform, then the markets are right to think that the tax reform comes very, very likely. stuart: got it. kevin, great to be with you again or you to be with us. you're a government employee. you're welcome on this program. kevin, thank you, sir. we'll see you again soon. all right. tens of thousands still under evacuation orders in california. rain, though, could be coming later this week. we'll have a live look from the ground in a moment for you [phone ring] hi anne. so those financial regulations being talked about? they could affect your accounts, so let's get together and talk, and make sure everything's clear. yeah, that would be great. being proactive... it's how edward jones makes sense of investing.

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ashley: now this. an update on the california wildfires. hillary vaughan has been on the ground throughout. she's there now. and hillary, finally, we hear the cool weather and wind making a difference; right? >> the countdown for better weather begins, ashley. rain is headed here tomorrow. two of the biggest fires that firefighters are fighting are both about 80% contained but, again, getting the people out is just the beginning because there's still 30,000 people under mandatory evacuation. a lot of them unable to get

back into their homes and neighborhoods because this fire burning behind here on this mountain ridge covered in smoke. you can't see it at this early daylight is threatening 27,000 buildings. so there is still a lot of homes at risk burning down, and this mandatory evacuation is in place. but for a lot of people, they've been able to get -- unable to get back into their homes and now there are still people missing. 79 people missing and unaccounted for and last night, the death toll climbed to 42. ashley. ashley: all right. hillary vaughan maybe some good news. rain on the way. cooler temperatures. calm winging finally need a break. hillary vaughan, appreciate it approximately great reporting from northern california. by the way, the third hour of varney coming up next "volatile markets." something we all think about as we head into retirement. it's why brighthouse financial is committed to help protect what you've earned and ensure it lasts. introducing shield annuities, a line of products

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stuart: we were on the air on election night. we reported the crash forecasts. who could for get?

the nobel prize-winning "new york times" columnist paul krugman. when it looked like donald trump would win he said the market would take a dive and never cover. clearly was wrong. he allowed his political opinions to influence his leftest out look. if you fault krugman or any other leftists you would have missed a huge rally. ited added over $5 trillion to the stock market value. 5000 points to the dow industrials. you would have missed commitment president trump helped generate. it is exciting. the economic lethargy of the obama years has been put aside. economy is growing. well-paid jobs are coming back. so are wages, the path to prosperity is intoxicating. quit whining moaning about fairness, income inequality, the rich are getting richer. the left with media echo chamber making money is so bad. it is so yesterday. this is america not europe.

so sit back, watch our country do well. this huge stock market rally points the way for our economy. yes of course, there will be a selloff, a correction at some point. that is what markets do. but right now, it is telling us that america is coming back. that feels good. the third hour of "varney & company" is about to begin. ♪ stuart: whatever time we play music, my colleagues on the set, producers say ac/dc. ac -- dc, because they don't know i don't know what it is. >> i took my son to a c ac/dc concert. stuart: what a guy. what is the name of the song?

look at markets will we? look at this. this is a triple-digit rally, up she goes. 134 points higher. 123,131. that is money. quickly to politics, they're wrapped up together. president trump meets senate finance committee at the white house. senators from both parties will attend. give me a timeline, blake, because, you're about to launch. i know you were. reporter: it is your show. go for it. stuart: if the president comes out afterwards and says something positive about tax cuts and senate finance committee, could you see this market move, shall we put it like that? reporter: the senate finance committee has major say in all of this, stuart. they along with the house, ways and means committee will be ones filling in blanks and writing out details of this tax reform package eventually. what

i have to imagine that press briefing could get interesting. stuart: interesting? we will all be gripped and we all know that. reporter: we will be there. stuart: blake, back to you later. joining us martha mack and charles payne. two stalwarts of fox news channel and fox business. >> great to be here. stuart: to you first, martha. the president spoke on tax reformulas night. you were on the air i think during the speech. >> we were. stuart: how did it go down? >> at heritage foundation. the president laid out the tax

plan as he sees it. he wants to see corporate taxes lowered and put marker on $4,000 number, repatriation and cutting corporate taxes according to their equations will lead back to $4,000 back in american family's pockets. that is is a number people will remember. i think about the fact that president obama said $2300 back in everybody's pocket because of health care which never happened. the president feels strongly. gop across the board need as win. they know that they have a lot of incentive for team play on this project. it looks like, there will always be people, rand pauls of the world, the john mccains of the world who may be outlyers on this but there is a lot of pressure on them to come together. stuart: a full-court press, martha. hold on a second, charles payne. why is the market up 135 points at this moment? >> fundamentals.

the underpinnings of the market that surged after the election. we saw across the board, whether you survey consumers, businesses large and small is morphing into reality. we're seeing movement. the underpinnings of our economy are growing tremendously, and that helped send market higher this is earnings season. warm numbers come in. ibm is through the roof. why? the stock down 22% last five years. surging today. liz: we were talking about what could market off the rails? north korea. kospi, japan, tokyo indices coming in strong. hong kong as well. asian markets are coming in pretty solid action there despite the fears of geopolitical risks to the market overall. stuart: it is profits though, charles, right? >> corporate profits. we were in earnings drought and

revenue drought. people talk about earnings but people talked about top line revenues. that was a drought. people are spending money. top of the income statement moving higher. that is moving stock market higher too. stuart: martha, i look across spectrum of mainstream media. i don't see the market rally covered much. i don't see much on froing economy. >> despite the fact president brings it up everywhere he goes. he could be talking to the greek prime minister. by the way, seen the dow? you can't blame him. there is 92 negative press rate for this president. he is not getting a a fair shake what is going on. there is so much animus as human being almost impossible for some people, i think very personal. so it is impossible to look at any positive story around him. we felt this for a long time. it happened to a certain extent during the obama administration as well. we're a very divided nation when it comes to politics. but people understand their

pocketbook as we well know, right? when they look what is going on and fundamentals that liz and charles talk about, are real. i think the noise and bluster that comes from many media organizations is not sinking in with the american people. look at polls. it is hard to tell but we all learned a pretty big lesson about polls in the last election. stuart: the president tweets over the media. >> he does, absolutely. stuart: speaking of which, the president was tweets on obamacare this morning not many moments ago. i am supportive of lamar, as in senator lamar alexander as person and also of the process but i could never support bailing out insurance companies who have made a fortune with obamacare. and now senator lamar alexander, he says he spoke to the president about this. here is his response. roll tape. >> he said, look, i encourage you as i, i encourage the process. i don't want to bail out insurance companies and i want

to repeal obamacare in the long term but all of this legislation we have to repeal obamacare won't take effect for two or three years. can't possibly. so what do we do in the meantime about people who need to buy insurance? stuart: does it sound to you, martha, the bipartisan approach is dead or not going anywhere? >> you know, i don't know that this, that this patty murray, lamar alexander plan will get any traction but i find it fascinating because the president throws out his marker, as you see from the "art of the deal" and last 25 or 30 years in his own experience. this is how he does it. i'm not bailing out insurance companies. you come back where you might be able to find some middle ground. some of that is represented in this bill, to prop up, what most people say is bad situation over next couple years, give them a little bit of time to do this but he is always going to stick to his credo, don't believe insurance companies should be bailed out. you know who else briefs that? rand paul. the two of them are connecting in very strong way on this issue

absolutely. i think they're going to find, some middle ground to sort of put it a little bit on life-support and come up with something that gets it back to the states, cross-border purchasing, associations all ideas extremely popular with businesses in this country and may undercut the program in of itself. stuart: martha, thank you very. we'll watch your show at 7:00 tonight on the fox news channel to see if you cover the markets. >> you better be watching. i love this, i might copy tonight. stuart: i get carried away. >> thank you. stuart: charles, you stay. >> you got it. stuart: don't you move. alex azar, is with us, former health and human services deputy secretary, former eli lilly executive and frequent guest on "varney & company." a new report puts him at top of the lead job at hhs under president trump replacing tom price. azar not commenting on the report.

sorry if i said he is on the show. he was not. ashley: he was briefly. now he is not. stuart: we got the still shot up. look at ibm. this accounts for 70 of the dow points on the upside. the stock is up 9%. that is whopping gain for company that size. ashley: huge. stuart: jam-packed hour for you. we're joined by hip-hop pioneer, ricardo crazy legs. he gained in fame in 1980s as the original b boy. >> break dancing. stuart: i knew this. he is helping to raise money for puerto rico. he is here with us in the studio. he will not be dancing. nigel farage will be here too. we'll get his take on the use tria leader 31 years young -- austria. ashley: he looks excited.

stuart: charles payne and sandra smith joins us with like the good ol' days. all together now. we'll be back. ♪ es to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be.

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stuart: thank you very much. that was yesterday. we're past 23,000. look at it, 23,130. ashley: 700 points by next wednesday. liz: souvenir 23,000. stuart: the gang is here all over again. we have former commodity trader, sandra smith. charles payne is still with us. looks like three or four years ago. you miss us, don't you? >> i come back every now and again. stuart: let's talk money. >> okay. stuart: how high is this market

going? >> you're not getting a forecast out of me because that -- it just doesn't matter what i think, but looking at this stock market i think you were supposed to ask me, does this make you nervous? because, no, but i'm serious. that is an important question to ask. every time i do your show, stuart, i put my feelers out there, hedge fund community, investment community and i did that this morning. i love this one response. somebody came back to me, a guy out of a fund in denver, colorado, he says we get nervous every morning. you know, but yeah, i mean nerves -- stuart: can you understand some caution here? i mean the thing has gone straight up. 5 a 4 trading sessions you have gone from 22 to 23,000. >> what maybe will relief your nerves the fact nothing has changed. donald trump is still in the white house. it is not hillary clinton. republicans are still in control of congress. interest rates are still at a

historic low. nothing has changed. the anticipation of tax reform and tax cuts has not changed. once that changes that is a big question. mnuchin is saying that the stock market can continue to go up if tax reform gets done. would i question that though. i would question whether or not it sells off on the actual news when that happens. >> buy on the rumor, sell on the news. >> correct. there is a lot of anticipation. meaning a lot could already be baked into the stock prices. stuart: charles payne, address the audience that is getting nervous. why not sell half of the stocks? >> you're missing out. >> i've been taking profits all along the way. there are points, in portfolio, golly, i'm up x-amount a. you know what? risk/reward starts to change and you will ring the register. there is nothing wrong with that, trying to pinpoint the top of the market. we could have the same conversation one year ago, two

years ago, recently as the market taken off. i love what sandra said about mnuchin. he is making a a big mistake predicting a market crash. >> i was shocked by that. >> here is bottom line. i talked about fundamentals. other things that help the market, a mass rotation out of bonds no stocks. also those same money managers, many of them have missed this rally. they're sitting on trillions of dollars. they have to put it to work. ashley: what mnuchin said on a podcast, no question in my mind if we don't get tax reform done we'll see significant reversal of the market gains which would be a huge crash. stuart: i am surprised to hear him say that. before you leave us, i know your time is limited here. your former athlete. what is your take -- >> still an athlete, thank you. i run every day, but yes. stuart: what is your take on nfl players kneeling when the anthem is played? >> you want to know my real take? do your job. they're getting a paid a hefty price to go out there to perform. just like you and i are getting

paid to perform. there is a time and place to share your views, your opinions, your concerns. on the football field when you're getting paid to do a job, i have a hard time with that. roger goodell, by the way, giving a news conference at 12 hour. that will be something to watch. he is in the hot seat. stuart: he is. what is your take? kneeling for the anthem? >> it's a huge mistake. they should have -- you know what? they really blew it because they could have gotten the fans on their side. the way they're articulating the message at meet something one thing. to do it during the national anthem. to compound the problem, telling some fans if you don't like it, don't watch. that's dumb. that's dumb. ask the ceo of abercrombie & fitch when he said he didn't want ugly people wearing his clothes. they never recovered. >> we're tired of not standing for the national anthem, putting our hand over our heart, looking at flag, thinking about all the men and women sacrificed for the

country, evolving going to players who is standing or who is not. liz: commercial break, not showing. that could be a choice. stuart: nfl down. college football is up. that is what is happening. >> you're always up. good to see you, start varney. >> what about me? [laughter]. >> charles payne, great to see you. >> thank thank you, sandra. >> ashley and liz. stuart: it is "varney & company." we'll see you soon. >> i always feel so welcome. stuart: you are. >> thank you. stuart: a win of sorts for johnson & johnson. a court rules they don't have to pay 72 million to the family of a woman who claimed she got cancer from talcum powder. the case will be retried. it is a temporary win. stock is down. look at this. mcdonald's in singapore wants you to put down your phone next time you eat, installing smartphone lockers at some restaurants. they want you to actually talk to the person that you are with. what an idea.

and listen to this. los angeles police department deports fleets of drones for year-long test run. they approved the program by 3-1. the lapd is largest in the country to approve drone use. more "varney" after this. ♪ how much money do you think you'll need in retirement? then we found out how many years that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement.

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♪ stuart: that is music from the "titanic" that is. wonderful voice. liz: celine dion. stuart: what a voice. i love it. a letter on the left-hand side of your screen, up for auction, sea stained, recovered from a body of a "titanic" victim, letter to his mother in embossed stationary. up for action in the ballpark of $100,000. malibu's most expensive mansion going up for sale called the new castle. on the market for 85 million bucks. 15,000 square feet. one million dollar wine cellar. cigar room. it includes a two-story waterfall. general electric, the ultimate stock for whole

generation of people going nowhere in this bull market. down a quarter of a percent. still at 23 on fe. look at ford, they're recalling 1.3 million vehicleses in north america. they have to add a water shield to one of the side doors. who cares about a recall. the stock is up. most people don't take cars back on these recalls. they know the dealer will want more money. starbucks reportedly rolling out a zombie frappuccino. i can't believe this. it looks like human brains they said. the producers made me read that. more commercials for starbucks. now this. cnn just relate ad hit piece how president trump's appoint me scott pruitt will let a mining company destroy pristine bristol bay in the bering sea of alaska. pebble mine is the company cnn is referring to. the cnn tells us the true story next. and this. the fbi released documents

showing former fbi director james comey, began drafting a letter clearing hillary before the investigation was over. what does napolitano have to say about that? we'll find out. moments from now president trump meets members of the senate finance committee. this is a live action presidency. it is happening right here, on "varney & company." ♪ [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country.

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♪ stuart: i have no idea what the music is, i don't care. look at this stock market, please. we're up is 36 points. i will take that any day, got it? 23,134. that means we are 866 points away from 24,000. what is happening right now in the white house? i'll tell you, president trump meeting with the senate finance committee. taxes at top of the list of subjects to be discussed. we'll bring you headlines. they could move the market. president trump of course pushing his tax plan. says it will be the best christmas present of all. roll tape. >> so let's give our country the best christmas present of all.

massive relief. speaking of christmas, yes? you want to hear it. [cheering] speaking, i just, i'm talking about christmas present. i will give you a bigger christmas present. you will be saying merry christmas again, okay? you will say merry christmas. stuart: okay. gets the humor in there something or other. that is adam michelle from the heritage institute who was at the speech last night, i believe. adam, i want to talk to you about this proposed, what we're hearing about the corporate tax holiday so that we bring money back, over two trillion dollars from overseas. can you tell me anymore about that? because i think that will be a huge stimulus to growth. >> thanks for having me on. what we're talking about is often called repatriation or deemed repatriation. it is different than the holiday we tried in the past which was temporary. the idea here is to make it

permanent. this is reform that levels the playing field for american businesses so they can compete with competitors overseas, so we're not longer double taxing their income they earn in other countries which then allows them to bring back money they earn overseas. currently, 2 1/2, $3 trillion is locked out of the country. doing this reform, means businesses can more freely move their profits back to the united states to create jobs and growth. stuart: when you're talking 2 to $3 trillion parked overseas, a way of bringing it back to america, how much of that 2 to 3 trillion would in fact come back to america? >> you know it is hard to say exactly how much would come back, but we know that the current system is incredibly infish tent. it makes it hard for businesses to choose where they want to -- stuart: wait a second, adam. you're at heritage. you're a think tank. you have to put some work into how much we get back if the

president's tax holiday plan is put in place. do we get a trillion 1/2 back. do we get two trillion back. give me a ballpark. >> full expensing the president talked about, all these things together make the tax plan really get the economy moving and we've seen estimates on how wages will go up for average americans and that is really where the rubber meets the road. how does this translate to economic growth and wage growth for average americans? estimates are high. stuart: why are you so reluctant to tell me how much might come back to america of the 3 trillion is overseas. >> because we don't know. we know businesses will be able to make decisions about the best place to invest. if our tax rate is, is lower than everywhere else, then we can, then we can assume a large portion of that will come back to the united states. but, the, but it's a pairing of

all of these reforms that get the economy moving again. stuart: i think you're right. i think the lower corporate tax rate and a tax holiday, that is the centerpiece of the growth agenda in this tax plan. aagree with you, i think it really would grow the economy. adam, thank you for joining us this morning. this is important stuff, growing the economy. thank you, sir. >> thanks for having me. stuart: we showed you a story earlier in the show, cnn releasing a story on epa administrator scott pruitt and how cnn implies the trump administration will let a mining company destroy the pristine bristol bay in bering sea in alaska. john stossel earlier said the obama administration rejected the mine without even considering it. just roll tape. >> the true story that obama's epa broke precedent, before this company could even submit an environmental impact statement, which is the standard, they submit it, then the government

says okay or no, they said, you can't even submit this report. stuart: joining us now is tom collier, this gentleman right here. he is pebble partnership ceo. he wanted to build the mine, that's correct? you're the guy who wanted to build this thing. >> i'm the guy who wanted to build this thing. stuart: it was rejected out of hand from the get-go? >> first time in the history of the clean water act anyone said a company couldn't even file an application for a permit to build a project. we spent $750 billion. stuart: million. >> million excuse me. stuart: you spent 750 million. >> getting ready to go into permits. that is with these things cost going into permit. stuart: you're kidding me? >> no. all wouldn't even let us file a permit application. stuart: $750 million. >> that's right. stuart: for application? >> well, to get ready, all the environmental planning that is necessary. i mean you also got to figure out where your project is and -- stuart: that is just lost? >> it would have been under the obama administration but two

things. one is, took them to daughter. to the a federal judge to issue a preliminary injunction against them. there was an election. stuart: changed things. >> yes it did. stuart: scott pruitt really changed things. >> dirty little secret is, that the obama administration really was so embarrassed by what they had done just before the election, they reached a deal with us, we were going to have settlement of our litigation. then at the last minute the administrator epa reneged on her deal. stuart: that is a disgrace. >> the whole thing is a disgrace. stuart: you wanted not to mine for oil or gas, fossil fuels, you wanted to mine for gold, copper. >> copper, gold,. stuart: was the on bering sea? >> bristol bay is location. it is over 100 miles from bristol bay. stuart: what will you do now? >> we'll file the permit application in december. we're filing for a project that is much smaller than the

environmental community is out there telling the world they think we're going to file for. the misinformation that has been put out there on this project is out rage just. this is way they raise fund. they raise it on my project. full-page ad into "the new york times." when i walked into the cnn story i knew it wasn't going to be fair, backdrop was picture averaging river and a large lake that were 130 miles from our desolate little mine location. stuart: they set you up? >> you know. they thought they did. but, our position still remains, all we want to do is file the permit. if we can show we can build the mine without damaging the fishery, we'll get a permit and we'll build it. stuart: tom collier, file the request. tell us how you're doing. >> we'll do it. thank you for having me here.

stuart: thank you for being on the show. next case, former fbi director james comey drafted a letter on hillary clinton emails months before the fbi wrapped up its investigation. attorney general jeff sessions was asked about it this morning in a senate hearing. roll tape. >> i don't think it has been fully understood the significance of the error that mr. comey made on the clinton matter. stuart: okay, judge napolitano, let's understand -- >> i'm shaking my head because he has the power to correct the error and he hasn't done so. if the error is jim comey was wrong to stop the, likely indictment of hillary clinton, then they should take the evidence, present it to a grand jury but they haven't done so. here is what he says the error was. the likely decision not to indict her, before all of the raw evidence was in before them. stuart, that happens every day, in every prosecution. i'm not a defender of jim comey. i have strongly and aggressive

isly criticized him. i argued before you and our colleagues there was ample evidence to indict her. that he was wrong to say no indictment and wrong to make the statement he made in the middle of the summer, however, prosecutors all the time know ahead of time are they going to indict or are they not going to indict? they look for evidence to support the preconceived notion, number one. number two, he doesn't have to interview every witness because he has summaries of what witnesses told his fbi agents at the time he starts to write the letter. so this nonsense about, you can't write the letter exonerating her until you interviewed every witness is simply untrue. stuart: this is not opening up a comey scandal, it is not. >> correct. the scandal is that the current justice department thinks there was a comey scandal and won't do anything to correct it. stuart: was the president right to fire james comey? >> well, i mean you would have to ask the president. he gave several different reasons. one the russian thing. two, the hillary thing. three, he was a hot dog.

i'm quoting the president now on this. so i don't, i can't second-guess the president. stuart: okay. >> may i on your guest before me, he owns that land. he and his investors own that land. the presumption should be with them, not against them. when the epa comes in, the epa is presumed to be correct and the landowner is presumed to be wrong. that takes 600 years of anglo-american jurisprudence and turns it on its head. stuart: well-said, judge, well-said. you made your mark with that one. i'm glad we held you over for extra minute. thank you, judge. >> yes, sir. stuart: next up we're joined by, nigel farage. we'll get his new take on the new austrian leader and more. more "varney" coming up ♪ with fidelity's real-time analytics, you'll get clear, actionable alerts

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>> i'm nicole petallides with your fox business brief. taking a close look at general motors today because self-driving vehicles could be on the streets right near you. more news on self-driving vehicles. the stock is up half a percent but the latest gm is, plans to test a fleet of self-driving cars right here in new york city, in lower manhattan. this test will be a fleet ever chevy volts, the electric cars. it will be over five square miles in lower manhattan. they will map it out.

crews animation, was the company, the driverless car develop gm acquired last year. that is exactly how they're doing it. look how gm has fared against the other guys. fiat chrysler is best of the bunch. self-driving vehicles. 10 million on the roads by 2020. one in four cars by 2030. a real babysitter instead of your brother. hey. oh. that's my robe. is it? you could save seven hundred eighty two dollars when liberty stands with you. liberty mutual insurance.

stuart: quick stock check for you. you remember the garmin gps gadgets to find your way around with directions. it is teaming up with alexa. with garmin speak and allow voice commands in the car. can ask it to turn on the bedroom lights as you pull into the driveway, if that is what you want, if that is what you really want. to europe, a 31-year-old conservative has been elected austria's new leader, sebastian kurz. you might call that the "brexit" effect. headline in "the washington post," check politics take trumpian turn. cracking down on migrants. nigel farage is here. so the explosion in europe with angela merkel opened the doors to over a million migrants, muslim migrants it is not over the repercussions are rippling through still, are they not? >> oh, yes.

already we've seen hungary, poland, slovakia taking a strong stand. we'll not take a migrant closer from brussels to pay for merkel's error. a very dramatic shift to the right in austrian politics. the conservative party got over 30% of the vote but interestingly the freedom party, further right of them, got 26% of the vote. that is a big, big move. almost perhaps a trumppyian turn taking place in czech politics. i think the european union who held freedom of movement and their migrant policy to be article of faith, frankly unless they rethink this, this union will simply break up. stuart: so that's the issue? the muslim migrants are the issue which will actually break up the european union? not greece's debt? not debt by italian banks, no, the muslim migrants that break it up. is that right? >> well, yes.

i mean, logic says that greece should have broken out of the euro years ago. it says italy suffered terribly big in the wrong currency and yet nobody politically seems to have the courage to say you know what? we'll leave this currency and get back our own one. but this issue, this issue of muslim migrants that angela merkel invited into the european union, this goes right to the heart of what is the shape of a country. what is that community? what happens to the christian culture in those countries which in central eastern europe, they hold very strong. stuart: 45 seconds before we hear from president trump. >> yeah. stuart: quickly, nigel, what is the endgame here. >> well the revolution is rolling. "brexit" was the first brick out of the wall. what you're now seeing are n.o.w. political movements and parties growing across whole of european union. what they're saying is, we don't want to be bossed around by unelected bureaucrats. we want to make our own decisions.

the migrant crisis is classic specimen of that. countries want to decide themselves who lives, works there. stuart: nigel. great to have you on the show. sorry to have it so short. i have to make space for president strum. he is about to speak. into the white house this morning. we're getting tape coming in to us. here it is. >> thank you very much. i'm honored to welcome republican and democratic members of the senate finance committee to white house, especially i would like to thank committee chairman orrin hatch. thank you, orin. and ranking member ron wyden for joining us today. thank you very much. thank you, ron. we're here to discuss our plan to deliver historic tax cuts for american families. businesses workers, it will be the largest tax cut in the history of our country. here are some of the highlights

from our framework. we are doubling the amount a of income that is taxed at the zero bracket. many people at zero bracket that will be able to take advantage of that bracket that are not in that bracket. we'll increase the child tax credit. we'll end the estate tax, sometimes referred to as the death tax. we'll cut the business tax rate from the highest in the developed world of 35% to no more than 20%. according to the council of economic advisors reducing the corporate tax rate from 35 to 20% would increase average household income by $4,000 a year. so each household, on average would take in $4,000, and they will go out and spend the money and that will be great for the economy. we're cutting taxes on small businesses to the lowest rate in more than 80 years.

for 30 million americans who own small businesses it will be a 40% tax cut. they will thrive and they will expand and they will be happy. for at least the next five years, businesses and manufacturers will be able to expense the full value of new equipment in the year in which they buy it. something, which nobody even thought in terms of, and something which will have, i think one of the biggest impacts on our economy. we will impose a one-time low tax on trillions of dollars of wealth parked overseas to encourage companies to bring back those profits and bring them back home and spend the money at home where it belongs. right now they can't bring the money back in because of bureaucratic problems, because of certain legislation, and most importantly because the tax rate is so high that only a very foolish company head would bring the money back in. i think numbers could even hit the 4 trillion-dollar mark. people have been saying 2 1/2

trillion for many years but we know it is now much higher than that the vast majority of americans will be able to file their taxes on a single sheet of paper because not only will these be massive tax cuts but these will be a big, simplification. it is going to be a very big simplification. it is really tax cuts and reform but i focus on tax cuts because it is such an important weapon to get our country really moving. so we'll go from being one of the highest taxed nations in the world, to one of the lowest taxed, meaning more jobs, higher wages and more products stamped with the words, made in the usa. this is a once in a lifetime opportunity in my opinion. this is something that will be really unique. the timing is right. i have had people on both sides, i promised not to mention the name of the people on the other side or names, but a lot of people are liking this very

much, and i think we'll have tremendous support. we're going to restore america's competitive edge, repair america's middle class, very much aimed at the middle class and renew the promise of the american dream. we're going to have companies pouring back into our country instead of leaving our country. we're not going to have them leave and fire everybody and make products and sell them back into our country, totally untaxed. all we do is end up with lots of people without jobs and no product. it is not going to happen anymore. so i just want to thank everybody for being here. it areat honor. wel have a great discussn toda d i'm sure wll he animous support have no doubt, rht? , rht, ron, i think, right? [laughter]. thank you very much, everybody. appreciate i >> didn't say what the congresswoman said. didn't say it at all.

she knows it. i did not say what she said. and, i'd like her to make the statement again because i did not say what she said. i had a very nice conversation with the woman, with the wife, who is, sounded like a lovely woman. did not say what the congresswoman said. most people are not too surprised to hear that. reporter: [inaudible] >> let her make the statement again, you will find out. let her make her statement again and you will find out. thank you. thank you. [shouting questions] >> we'll see bipartisan, we'll see the bipartisan. lamar alexander is working on it very hard, from our side. and if something can happen, that is fine. but i won't do anything to enrich the insurance companies. because right now the insurance companies are being enriched. they have been enriched by obamacare like nothing anybody has ever seen before. i am not going going to do anyto

the enrich the insurance companies. thank you very much, everybody. thank you. thank you very much. stuart: you can say very clearly the full-court press for tax cuts is operative. the president zeroing in on 20% tax rate for corporations. and, ash, that $4,000 number. ashley: by doing that, you create an extra 4,000 per year to the average household. more wages. more u.s.-made products. that is the message. stuart: selling point, $4,000 for average family. they have said that every day. liz: people keep hearing that. after the president tweeted out, democrats only want tax hikes. stuart: big time. joining us now a famous guy, break ir, richard crazy legs cologne. do i have that right. >> yes you do. stuart: i want to put you on the show, you're trying to get water

filters. i like that. >> red bull set me up. they were on the ground. they rode out maria. they were actively on the ground. i was concerned. they reached out with red bull. they set me up with them. we partnered up to get over 600 water pureryification systems which affected 15,000 people to have clean drinking water. stuart: puerto ricans famous in america, helping puerto ricans in puerto rico? >> that's it. stuart: absolutely. seems a bit like texas story and florida story, people helping themselves with help of outsiders who are well-known. >> we do help ourselves. i think we have less of an equal playing field because of the lack of media and effective response. stuart: really? >> i was on the ground. i was on the ground. i saw it first-hand, i an went to places literally first plane to land, go into a lot of major communities, that no one had

gone to. stuart: i don't think puerto rico did itself a favor about complaining help they received, when american taxpayers are spending $29 billion in aid to puerto rico and there are 19,000 federal workers on the ground. >> federal workers in hotels hanging out. i get a report every day from people all over the island. so, we actually, i lived there also. so i go back and forth on regular basis. and it is really, i can focus on that, or i could focus on my effort towards what i'm doing which is the next trip is, bringing 3,000 solar lights down there. i'm not complaining. i'm about doing what needs to be done. i saw people fixing their rooftops. i saw people working together on the island, clearing roads. only the people. no one else. i only saw, on my trip out there, one military vehicle. i went to the coast guard where the person, manning the perimeter of the base was starving.

stuart: well, puerto rico is an island. >> yes. makes it more difficult. stuart: almost completely devastated. >> yes. stuart: bankrupt before this happened. >> you got to take the jones act into consideration. stuart: electricity supply went out immediately. >> yeah. stuart: it was not much good to start with. >> i guess if you look at all layers realize how it got to that and hedge fund people, people who are involved with, not allowing puerto rico to get out of debt, and it's a debt that a lot of them have caused puerto rico, could look at it that way if you want. stuart: no, i don't look at it that way, i really don't. >> i saw a whole sense of pride, spirit that i had never seen before in puerto rico. it's a beautiful thing. the fact they're able to function knowing that we have to operate as fema, that the

government until the government is coming. there is a lot of death and destruction. we'll fight through it. stuart: crazy legs, thanks for being with us. >> thank you. stuart: more "varney" after this s suv. you must become invisible. [hero] i'll take my chances. .. i say, "i'll go my own way" with anoro. ♪go your own way once-daily anoro contains two medicines called bronchodilators,

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stuart: my time is that appeared in the outcome is yours. neil: thank you, stuart very, very much. by days end if you've been hearing a lot of this is driven by some contributors to really haven't contributed much. this time ibm was kind of consider the loser of the dow. the story is it's doing gangbusters great, but it doesn't stink as much. revenues barely declining at all. a lot of people often mistake. maybe in the next quarter of revenue gain. this is how sites change after stock has been beaten down and ibm has gone down for the ride as