predicting a stock market rally and we were basing this on the passage of the budget in the senate last night, 51-49. that opens up the whole idea of getting a tax cut deal done relatively quickly because republicans only need 50 votes in the senate to get tax cuts. can't believe republicans would walk away from tax cuts and 50 votes. neil: there are some things monkeying up the process or could be. some differences on both ends of pennsylvania avenue. paul ryan saying there will be another tax bracket. >> in the fourth bracket we are going to do we are working on those numbers now we have a budget resolution we want to get a final budget resolution between house and senate. that tells us how our numbers would work and we will introduce the bill which will

have that fourth bracket designed to make sure we don't have a big drop in income tax rates for high income people. neil: the president with maria bartiroma had a different take on the same subject. >> when paul mentions one more category which i would rather not have, he is playing on what he said, the middle-class is not being properly taken care of. neil: whether you need that bracket to show concern about this, that you are going to rain it in for the very wealthy. right now the top rate is being reduced from 39.6% to 39 the understanding being some of those would be ensnared at a higher rate, not necessarily bring it up, something in between. hard to tell but sort of a moving battle. adam shapiro with more on this.

>> keep in mind next week we expect the conference committee to come out with the budget resolution and both chambers will adopt what comes out of that. we expect to see details of tax reform as early as the week of october 30th though kevin brady is not saying when he will share the chairman's mark with us. the president is speaking with maria bartiroma, earlier put out some tweets. he said first the budget passed 51-49. we have 0 democrat votes with only rand paul, he will vote for tax-cut voting against. this allows for the passage of large-scale tax cuts and reform which is the biggest in the history of the country. first we see the president getting tax cuts, putting reform in parentheses but puts tax cuts, what they can do,

reform is a big challenge but rand paul voted against the budget resolution but is in favor of the tax-cut tweeting i am all in for tax cuts, the biggest, boldest cuts possible and soon. the clock is ticking. can they deliver before the end of the year? paul ryan is expected to bring legislation to the house in november but here is what kevin brady, the most important person in washington when you talk about tax reform, says about where this bill will take us and the potential balanced budget? >> we would like tax reform to move us back toward the balanced budget counting on economic growth but also to eliminate a lot of loopholes and special provisions so i am confident it will be. >> you heard him say move towards a balanced budget, do not have to have a tax bill which you might say is revenue neutral.

it doesn't have to be deficit neutral, we are looking forward to seeing what the details will be. neil: it is capitol hill, not the white house but the differences will be something to watch, the wall street journal, editorial board member mary kissel, keith fitzgerald, let me begin with you. what is your sense where this is going, differences notwithstanding, it is on track for tax cuts getting voted on and approved this year. >> a very important step and here is the thing that caught people by surprise. politically speaking it is all about the personal tax cuts, the fourth bracket and all these things, like looking for the 12th man on the seahawks field, you will never find him but he moves around. the second is what do financial markets think of this so that

is very clear because they will look at this will do to foreign direct investment and what it means to all the cash they are generating overseas, personal politics is going to go the other direction, net net is a game for the market. stuart: neil: i am confused, rand paul says a no vote on the budget doesn't mean no yes vote on tax cuts, conversely other senators who voted yes on the budget indicate it doesn't mean yes on the tax cuts. is this necessarily an advanced snapshot on tax reform? >> no one knows the purpose of rand paul in washington these days given the votes he took on obamacare repeal and replace, language he has used about tax-cut than deficits. what is most interesting is what paul ryan said about a fourth tax bracket. he has been scarred by the health care debate and is talking about tart taxing the

rich is pandered to the democrats but to what end? the democrats will not compromise on tax reform. i think paul ryan should be pushing for the deepest cuts, the most reductions in deductions he can obtain and to resist the corporate welfare and likely and marco rubio in the form of child tax credits. >> the fourth tax rate the president argues you have 0% rate, we don't know what level it will kick in and who would be ensnared. wooded water down your eyes, the old argument something is better than nothing? >> you want some form of tax plan, we have to get this economy going at 3%. but it will have an impact on

growth if you don't reduce the tax burden on preponderance of people who are paying our taxes. we have an incredibly progressive tax system and you know the marginal benefit to growth comes from cutting for people at the top. republicans use to understand this. it is a remarkable switch to see people like paul ryan who learned at the knee of jack kemp, cut taxes for everyone mimicking language of the left on that. neil: what would the fallout be among wall street investors, many welcome the corporate tax rate and benefit from that as well some of the stocks that underpins that. but that crowd the doesn't get the cut, what do you think? >> there are two thoughts on this. if you are paying taxes you had a good year so net net that is a good thing. the you have to pay more taxes or less? that remains to be seen.

big government equals small wallet and the more money out-of-pocket is money that does not go into the business or social security or social services all of which are badly needed, to the president's point for the middle class so that is a litmus test, how does the middle class which has been sold out since the financial crisis began recover or benefit from this? that is what i'm watching. neil: on that point, if the upper income don't see a rate cut, hypothetically it stays 39.6%, we don't know lovell that would kick in, all other taxes are cut, corporate rates down 20%, might stagger over a few years, they still go down, you think that would be favorably addressed? >> it will be favorable for wall street. the things politicians repeatedly demonstrate lack of understanding on is money is mobile. if you treated putatively it

will leave. whether these individuals moved to other countries move companies around, that remains to be seen. the link between treating many putatively and leaving is very clear and shown throughout history so i will be stunned if politicians say this is a surprise. >> there is a deeper philosophical question. what is the point of the tax code? send a message to the american people it is bad to get rich and if you get rich he will get punished or do you want to send a message we should all aspire to be rich, we want everybody to have the opportunity, celebrate people who are successful and want them to be more successful so they hire more people. that is the message i once republicans on capitol hill to be sending. neil: in the meantime, what if this doesn't get done at all?

bedding is -- do they have to forget about that. >> with the senate map which next year is friendly for republicans, many democrats, the senate could flip, the republican base, the white house has to get this done, they are trying to win the joe mention, they have to get this done. they say they want to pass healthcare but failure of healthcare, unite on taxes,

they are cautiously optimistic. neil: am i over reading, the president met with finance committee members on the budget and not a single democrat voted for this budget. >> i don't think they will vote for tax reform. >> i think it will be for not. for democratic leaders not to support it, we know the game plans that this is a giveaway to the rich and the bush tax cut did attract bipartisan support and republicans have to unite likely didn't on healthcare, they have to unite past this thing. neil: let me in on the palace intrigue, john mccain was a yes vote on the budget, rand paul was not.

>> i don't think that vote out will apply to tax reform. they pass the budget pass healthcare and rand paul voted against that there were others who voted no on healthcare that led to that bill passing so the fact that mccain voted for this, you can't count on tax reform, he voted against the bush tax cuts so you have collins and murkowski and mccain and rand paul is not a sure thing either. this will be difficult. they got to minimize defections was getting through the house will be difficult because of state and local deduction. the limitation of that, new york and republicans don't like that. this is going to be a long road. they want to pass as quickly as they can. they won't get it done before thanksgiving. neil: a lot of information as always. the hill editor and chief. you want to talk to that guy, you're wasting your time if you don't. congresswoman frederica wilson hitting back a general john

kelly. she claims she is a rock star. it is still about her. the message from someone who served this country very nobly, enough already. after this. >> i was stunned when i came to work yesterday morning, brokenhearted at what i saw. hi, i'm the internet! you know what's difficult? adulting...

tj! get a job! hi, guys. i'm back. time to slay! heals, heals, heals! yes! youuuu! no, i have a long time girlfriend. mom! i need my macaroni!!! you know what's easy? building your website with godaddy. pick a domain name. choose a design. you can build a website in under an hour. yeah! whoo! yes! get your domain today and get a free trial of gocentral. build a better website in under an hour.

♪ traders -- they're always looking for advantages. the smart ones look to fidelity to find them. we give you research and data-visualization tools to help identify potential opportunities. so, you can do it this way... or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just $4.95 per online u.s. equity trade. fidelity. open an account today. ♪

neil: frederica john wilson -- john kelly is trying to keep his job. former army intelligence officer on this, what do you make of the back and forth, it comes back to a young man who lost his life defending his country, it is not in the story. >> a hostage video by general kelly, he was not trying to save his job, he was reflecting the thoughts of most americans educating the press and embarrassing, to politicize these events. i'm happy to be part of the one person but in that 1% there is

one person who gave their lives and wounded in these wars. to politicize that, to go up there and be proud of oneself this morning because she is being followed by the president of the united states, politicizing too much. general kelly is right. i am shocked at the negative comments, a marine general that served this country the last 30 years. neil: i don't think a four star general has to prove himself or hold on to a job but his thoughts did put him in a predicament where he had to explain what the president meant and what he said. should both sides cease and desist? this is personal to the families, something uniquely personal and neither should be talking about it? >> general kelly said it best.

advised the president not to do it because it is hard, not because he shouldn't do it but because there is no way to offer that family comfort. neil: i wasn't clear and it is my fault. to use the president also pushed this controversy by talking about what his predecessors might have done or not done? should he have also tabled the issue but not talked about it one way or the other? i gleaned from general kelly yesterday the process going forward. >> if you listen to general kelly donald trump that everything general kelly told him to say in that situation. he sought general kelly's council. the president has a way of saying things that will alienate 50% of the people in the country whether it is true or not. in this instance general kelly, again, four star general vouching for the president of the united states saying i had this conversation with him, i was there, this is what i told

him to say and it was politicized, don't think you can argue that. neil: thank you for your service to the country, former army intelligence officer. now the director quentin tarantino saying i know a lot about what was going on and i didn't say anything about harvey weinstein, trying to address what seems to be a matter of pulp fiction after this. she thought it was a fire. it was worse. a sinkhole opened up under our museum. eight priceless corvettes had plunged into it. chubb was there within hours. they helped make sure it was safe. we had everyone we needed to get our museum back up and running, and we opened the next day.

neil: weinstein company might have new potential bidders. "fbn a.m." host lauren simonetti has more on that. >> financial quicksand, you need the buyer and need one fast. dmz reporting the investment firm run by tom barrick having cold feet because of the finances of twc and the

reputation of cofounder harvey weinstein but other bidders might be emerging and harvey who dialed into the board meeting a few days ago said ron burkle, known for buying and selling supermarkets, and billionaire behind access industries are both potentially interested and each of them has a past in hollywood. burkle was the investor in relatively media. he is also -- he loaned harvey money in recent years. the issue is they haven't had a real blockbuster since lee daniels the butler in 2013 and with the sex scandal, talents, producers, investors severing ties in the wake of everything going on with harvey and bob. the upside is twc could sell cheap but finding the interested buyer will be tough. even netflix looking for

content, spending $8 billion on it in the new year, they have all but rejected this idea. neil: director quentin tarantino said he knew for a number of years what was going on and look the other day with harvey weinstein. and the long history included everything from pulp fiction to the kill bill series so he had to state the obvious, did he? >> quentin tarantino is the biggest name to say i knew what was happening, should have said something and i'm ashamed, no secret that hollywood was keeping harvey secret. everybody knew and that is what variety's cover story was about, the shrouding culture in

the entertainment industry and is this the tipping point that it will change? now that quentin came forward, other big names, i should have said something. neil: does it hurt him? i knew enough to do more than i did? others in a similar position. there is the career boomerang effect. >> i don't think it will hurt quentin. the first person to come forward and should have said something. clinton was a man and it is harder for women to come forward and say what they knew. he is going to be applauded to be honest about this, harvey weinstein is one of the most powerful producers in hollywood

and making money for quentin tarantino, everyone was wrong not to say anything. they want it's, they want money, one of the biggest producers in hollywood, this was years ago. and be truthful about him. the times are changing, people can take to twitter and talk about their experiences, very difficult for these secrets to not be exposed. neil: what would be left of the weinstein company? neither brother is wanted in whoever buys it. the tarantino films alone from reservoir dogs, i could go on and on, dozens more so there is a library to consider but i cannot imagine the deal for new weinstein films, documentaries,

specials and the like unless someone else takes over and starts from scratch but what happens to that weinstein company? >> absolutely right. the weinstein company is in trouble and completely tarnished, with everything harvey is accused of and the first accuser came to variety and shared the story so one of the most profitable titles is the project runway franchise. and the networks have spoken up against harvey weinstein, it will be very difficult for the company to bounce back, if they do have a buyer, formally the weinstein company, no one will work with them. neil: palace intrigue, thank

you very much. we are getting reports now said chair janet yellen is back at the white house meeting with national economic council gary -- gary cohn among the small people being considered. this might telegraph, the president is interested in reappointing janet yellen or -- no way of knowing. it seemed to indicate the list is down to three individuals, whether two of the three -- people read into all sorts of things. the fact she is having lunch with gary cohn, people start pointing all sorts of possibilities, more after this. [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. discover how we can help find your unlock. when you're close to the people you love, does psoriasis ever get in the way of a touching moment? if you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. taltz is proven to give you a chance at completely clear skin. with taltz, up to 90% of patients had a significant improvement of their psoriasis plaques. in fact, 4 out of 10 even achieved completely clear skin. do not use if you are allergic to taltz.

before starting you should be checked for tuberculosis. taltz may increase your risk of infections and lower your ability to fight them. tell your doctor if you are being treated for an infection or have symptoms. or if you have received a vaccine or plan to. inflammatory bowel disease can happen with taltz. including worsening of symptoms. serious allergic reactions can occur. now's your chance at completely clear skin. just ask your doctor about taltz.

think has exposure to energyfund now's your chance at completely clear skin. infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp

>> senator corker, personal thing going on between you and senator mccain. do you worry this get in the way of your agenda? >> no and sometimes it helps. we will see what happens but sometimes it helps, gets people to do what they are supposed to be doing and that is the way it is. neil: the president indicating in a chat with maria bartiroma these little feuds with senators of his own party have the desirable effect. my next guest agree? comes at the same time steve bannon is leading an effort to target these establishment senators in the crosshairs of the president. before we get to you, i want to

look at the president to the un secretary-general. >> the secretary-general with us, we have become friends even before i was doing what i was doing. you have done a spectacular job, speaking for the united states, we appreciate it and working with our ambassador. nikki is in a unique class. but it is an honor to have you and thank you very much. >> thank you, mister president. i'm grateful for the support you have given us in addition to the reform process from the general assembly. we live in a messy world but we

need strong reforms, a strong united states engagement based on traditional values, human rights and cooperation between the us and the un. >> the united nations has tremendous potential. it hasn't been used over the years nearly as it should be but the united nations, perhaps almost more than any other thing i can think of. i also happen to think the united states even as well as we are doing right now has additionally tremendous potential. we have just started. the united nations has this -- almost a power to bring people together like nothing else. it hasn't been used. you are starting to get your arms around it and i have a feeling things will happen with the united nations like you

haven't seen before. to have this group of nations in one location with one person which is you leading it strongly, in terms of worldly and other things, many other things you are working on, we wish you luck because the potential is unlimited. you need luck and you need talent. we will see what happens. i will report back to you in seven years. thank you very much. thank you. un

secretary-general, a new one changing the way things were done, this president has been critical of the united nations and forced a good working relationship and the secretary-general keep an eye on that and developments, to foster freeze, so many republican powers that be. thank you for your patience with that, do you think this effort on the part of steve bannon is a target for primary challenges, a number of establishment republicans is backfiring, the president has indicated among those targets, fisher, i think roger wicker in mississippi come he's for them. he doesn't want to see any primary challenges.

where does this stand? >> i agree with donald trump and steve bannon. steve bannon is one of my heroes as is donald trump. there are some senators that would be better replaced but my point that i made today, i am battling steve bannon. our efforts should be spent instead on getting democrats who are in ten states donald trump won, having replaced with republicans. my emphasis is replacing emma kretz, steve than is replacing incumbent so we both have a role to play. neil: what if steve bannon says i disagree, there gets to be a fracture in their relationship? >> they are both very strong-willed men. we have a lot of disagreements between strong-willed men that doesn't destroy the relationship. i'm not in favor of donald trump's current status on my 34-year-old hispanic friend in jackson hole who was an accountant for a nonprofit that he might be sent back because

he staying -- came here illegally age 5. if hillary clinton can get away with a 7 year statute of limitations and not be prosecuted, she may have been doing, i think this guy should have the same statute of limitations for being brought at age 5 so i am sure donald trump will not throw me under the bus. he is supporting barrasso and i contemplate a run against barrasso but doesn't change my admiration for him. neil: do you work or talk much with the president? >> right after hillary clinton conceded he called me at 3:00 and offered me a job. when i asked what does it pay, he hung up on me. neil: that didn't go anywhere. >> it didn't go anywhere. i would like to have more conversations with i was supposed to meet with him yesterday and wasn't able to set up the attack, it is an

unbelievable disgrace we are giving abram tanks and humvees to the baghdad government and attacking our most valued allies, the kurds. i'm surprised the media and more people haven't spoken against this, an absolute tragedy. i'm ashamed of the state department not coming to the kurds's aid. neil: does the president know about this? >> that his wife wanted me to meet with him. he's drinking from a fire hose. i don't know how much information he is getting but they are our closest ally and the government in baghdad said we are marching on the capital of the kurdish region and these friends are wondering where are we? they are the ones who fought for us, bloodied the nose of isis much earlier and been on our side since day one and where are we when they need us? an absolute disgrace and i'm

surprised, the media talks more about how many calls donald trump is made to parents of soldiers who have been killed. i don't get it. it is a tragedy. neil: you go on about that for a while but i want to pick your brain on the markets. a great value investor and someone who weeded out value in the middle of the environment where there didn't seem to be much. you must be impressed by the broad nature over the last year citing the president's election, some improving earnings, some both. does this market -- do you share the anxiety of treasury secretary steve mnuchin and others that of tax reform or tax cuts don't go through, it could sell off quickly? >> i tell potential clients never invest in the stock

market. neil: that means don't invest in an etf that mirrors the dow? >> i have never been a big fan of these index funds that allow you to invest in 20%, 30% are disasters. i have always been a fan and why we succeeded, how we do better than people expect. the tulip bulb craze, and they change, and ten tons of hay, and many stocks which are selling on emotion rather than earnings. 3 things guided our technique and determined the price of stock are earnings, earnings and earnings.

neil: maybe meet our mutual friend ben stein disagrees with the premise that individual investors aren't as smart or savvy as you are. and the s&p, the nasdaq, the russell 2000, they would be richly rewarded over time and that is how they should play it. >> they would be more richly awarded if they got rid of all 6 companies that comprised those indexes. neil: they wouldn't know what they are. >> that is why people needed me. why do you suppose i took $800 of accumulated leave pay and i have my own challenge, couple ranches, there are people who understand how to sort the wheat from the chaff. that is an important way to go. if you look at these overall, an index on stocks, those

values are determined by what is happening to interest rates and foreign relations and are not always tied to the individual dynamics of the company so these indexes, if you look what happens to the price of gold, the inflection of what happens with inflation, people have a hard time predicting inflation, we know it will be higher but looking at deflation, look what airline fares are versus ten years ago. i never liked investing in gross numbers like i don't like talking about people in groups. the other day i was annoyed when hillary clinton chastised donald trump for attacking black athletes. they never said anything about black athletes. many white guys probably took any too. we need to get to society where we want to return to civility we not only have to be nice to each other but confront this kind of demagoguery. it is indecent and we should call it out.

senator corker has nasty things to say about donald trump. i grew up taking care of 140 head of steer and moved -- the code of the west is a big part of me. you ride for the brand. we got more people in both parties who need to do that. >> corker says the president went after him and corker went after him, my two teenage sons, he started it, how do you stop it? >> i don't say teenage sons, i say eighth-graders. neil: mine have not but maybe they will. >> one of my favorite bible verses is never return evil for evil and another is peace, patience, kindness, self-control, against these there is no -- self-control, what is that about? no longer do i say to my wife you made me angry because then

she is in control. i got this gift, i decide if i'm angered, that is my decision, not somebody else's. neil: my son is famous for saying i know you are but what am i? it is the same biblical reality. always good seeing you, thank you. neil: i miss you and godspeed to your career, you are a real hero to the american public. neil: can i get that on tape? thank you again. >> goodbye. warner: the a lot more coming up including apple. they have apparently 3 million of these iphone 10s ready to go but that could be woefully short. we learn the iphone 8, more iphone 7s are selling. does that have some problems? after this. nah. not gonna happen.

that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] mmm. the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience.

are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. ...and ask about saving $1,000 on your walk-in bath, or visit kohlerwalkinbath.com for more info. whentertaining us,es getting us back on track,hing? and finding us dates. phones really have changed. so why hasn't the way we pay for them? introducing xfinity mobile. you only pay for data and can easily switch between pay per gig and unlimited. no one else lets you do that. see how much you can save. choose by the gig or unlimited.

xfinity mobile. a new kind of network designed to save you money. call, visit or go to xfinitymobile.com.

neil: donald trump is making remarks with the secretary-general when we get more information from that we will pass that along. this is his first direct one on one with the secretary-general.

they had a constructive relationship more than the president had with predecessor. we will keep you posted. before you think amazon is taking over the world and brick and mortar concerns are dead you might catch this report. the revenge of those brick and mortar guys, what are you finding out? >> this startup wants to level the playing field for convenience stores and big retail by selling the check out free technology amazon has. it lets you go into a store, grab items and leaves come you don't have to wait in line, scan your items or open your wallet. standard cognition found a way to make this available to everyone for a price. i'm here with jeff and brendan giving you a live demo how this works but is using pick up the

item, this shop is rigged with cameras, these cameras are tracking each shopper and identifying what they pick up. let's see what the system is showing. just has picked up shampoo and body watch, branding, canned beans and fruit. the technology will be available in the next few months for retailers. >> we are trying to be as flexible as possible. something we can give to every store in the world, probably accept amazon go blue someone to their own apps or we can be back into that. some want to take care of everything especially on the small end so we have standard checkout, walking and walk out and some are membership so you can imagine walking in and rather than showing your card, you go grab anything and walk out. it will depend on each retailer and what their preferences are. >> reporter: wouldn't name names but says every major

retailer has reached out to them and are interested in buying this technology. neil: how this technology but with those individual purchases? it just knows? >> reporter: right now it will track the items and based on each store whether it is arwen-based, as you walk out carrying those items, you're walking out with and mustard and either skin and apps or be center-based and then it will charge you from there but what is interesting about this technology is it is customizable to every story that needs. target may have a way to do it and the local convenience shop may have their own way they want to handle the walkout and charge process. neil: thank you very much.

deirdre has updated news on problems apple is having. we have updated news on paul ryan and the so-called fourth bracket for high income earners. we will address it all in the next hour, you are watching coast to coast on fbn. ♪ "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 that allow you to take advantage of growth opportunities. while maintaining a level of protection in down markets. so you can head into retirement with confidence. talk with your advisor about shield annuities from brighthouse financial established by metlife. is. . . .

neil: highest levels in the day, bill on optimism. what greece the skids late last night.

it was a close margin. only one no vote, rand paul. the financial sector benefit from all of that, speaker paul ryan in order to make sure tax cuts happen, they're willing to introduce a fourth bracket. blake burman, want more on that. the president's thoughts on that. how fast all of this is supposed to happen. break? reporter: neil, there is ambiguity whether the wealthiest would get a tax break, or maybe would they pay more under this new tax plan? there are kind of been both arguments made by the key players, over this tax battle last several weeks, latest iteration from steve mnuchin and sara sanders. the president wants to see a possible fourth bracket, when we mean a fourth bracket, the current proposal at 35. the current law is 39.6.

somewhere within the framework allows for. the president sat down with maria bartiromo moments ago and the president wants extra bracket for extra tax relief for the middle class. >> the middle class has really not done well over last long period of time. and so when paul mentions maybe one more category, which i would rather not have. it may not happen, but the only reason i would have, he does say this, he is very plain, what he said, for any reason i feel the middle class is not being properly taken care of. reporter: another interesting day altering or modifying the story of chief of staff john kelly. you know the briefing yesterday which kelly came out and defended president for the phone call, family to the widow of sergeant la david johnson but in it he was stunned with the behavior of the congresswoman frederica wilson from miami, and suggested that wilson, during a ceremony in 2015 of naming of an fbi building there in the name

of two fallen fbi officers bragged about securing 20 million in funding for that building. however video from that ceremony revealed on this day by the "sun-sentinel," the newspaper in the miami area shows that wilson did not say that at all. instead wilson was complimentary of herself for being able to get that building named after those two fallen officers in a very short period of time. the white house press secretary, sarah sanders clarifying kelly's statement this is way. she released a statement. general kelly said she was stunned that representative wilson made a comments at building dedicating to slain fbi agents on her own actions in congress including president obama on legislation. as general kelly pointed out if you're making a sacred act about honoring american heroes about your sell, you're an empty barrel. the president defended kelly in his interview with maria, this way. >> he was so offended because he was in the room when i made the

call. and so were other people. and the call was very nice call. he was so offended, that a woman would be, that somebody would be listening to that call. he was, he actually couldn't believe it. actually, he said to me, sir, this is not acceptable. this is really not. he, i was so nice. look i have called many people, and i would think that everyone of them appreciated it. i was very surprised to this see, to be honest with you. reporter: the president generally commenting on this controversy unfolded over last 48, 72 hours. as for the video, congresswoman wilson after posted, neil, listing the definition of the word evidence. neil? neil: blake, thank you very, very much. to that earlier point blake mentioned about a fourth bracket on high income earners pennsylvania republican congressman mike kelly, sits on house ways and means committee. very important guy.

congressman are you open to that, a fourth bracket? >> yeah, neil, i am. if we look at the fourth bracket just for optics, what i think is more troubling anything else we continue this idea we have to separate ourselves as americans, well, look really wealthy shouldn't get a tax break? here is what i am for? i am for every single american taxpayer to get a tax break. they have more money in their wallet to do things that are best for their dollars. i'm not opposed to it. president is asking for it. the speaker speaks clearly bit, and also our chairman, kevin brady does, and at end of the day, this is worn-out statement every american taxpayer should be happy or real happy what we were put together to bring relief to middle income people, lower income people and makes their life a little bit easier. neil: we don't know, leaving the fourth rate aside, sir, we don't know at what income level the

various rates kick in, 25%, 35%, do you? >> the brackets are most important part of it. so where do you fall in those brackets? that is the key to it. i want to make sure, when you and i talk, it is always about what do the american think? it is not about republican tax cuts, or democrat tax cuts, this is tax cuts for the american taxpayer. neil: those people, want to know, whether they will see 25% rate or 35% rate? >> they will see it very soon. neil: okay. >> what happened last night in the senate allowed us to move forward. neil: next week? >> i don't know that quick but happen very quick. neil: another issue that has come up this idea of a fourth bracket itself, sir, maybe a way of getting democratic votes. that looks highly unlikely, my read, closer than i ever be, why bother then. is it concern that republicans are going to balk if there isn't a fourth rate? or if the rich don't get as much

of the benefit? >> i think too often we worry about optics what we do, as opposed to what is realistic to what make sense to the american people. if we don't have 39.6, bracketing where do they end up there? neil: right. >> president said there is no problem with that. i look at it, what is fair? what is fair. i grew up in a world, you did too, we aspire to be well and be wealthy. what is, every wealthy building i go into is named as somebody that did well during their life and said they would do more coming after them and more for the american people that they could. there is nothing wrong with being successful or wealthy. what is wrong we polarize the situation, when those folks become the bad folks. that is insane. never in our history we look at he will people that way. that doesn't make sense to me. we allowed this to overtake clear thinking what it is we're trying to achieve. we have to get to a situation

where people have faith and confidence in the form of government we have. the stock market is soaring right now, because people are confident and optimistic. those were things always great about america. why would we ever go away from them and polarize it because of our parties, say, no, this is what my party stands for. what my party stands for, every sing fell american doing better. neil: congressman, good see you again. >> that '87 clip you haven't changed a bit and you are america's hero by the way. neil: i wish that were true and had much better toupee back then. congressman i appreciate night god bless, neil. neil: the president will address the senate gop on this whole agenda next tuesday. to "usa today" congressional reporter elijah collins, realpolitiks associate editor, a.b. stoddard. i want to advance with you as we look into the market well into record territory again, some are calling it a melt-up which is

jargon for stocks moving up with abandon here and sometimes built on premise that might be shaky. in this case tracks cuts come through and benefit everybody. the argument we got from the treasury secretary a couple days ago if the cuts don't come through the market could tall. if that were to happen, that would be sort of double jeopardy for republicans right? they fail at something they need to win at, then the market starts reversing. what do you think? >> i think, that sounds like dramatic prediction from the treasury secretary, it is one of the worries of congressional republicans who know this is their last-ditch effort at a big accomplishment that can be felt before the midterm elections. they want to get this passed early enough into the winter, that by the spring and summer the economy feels a bit of a palpable jolt, that voters will, be able to integrate by, november of 2018.

i think they can come up with something, neil, as you know they are very divided. the deadline they put on themselves by the end of this year, with fewer than 30 days left seems unrealistic to me. neil: really? how likely is isn't. >> publicly they say very likely. privately they are showing concerns. i spoke with aides recently, they are not sure but might have to go into the early months of 2018, but there is real concern as ab said about an election year. i talked to senator mike lee, things do better in non-election years and people taking a vote they might take if they are up for re-election, compromise on things that are uncomfortable. going into the an election year it is harder. neil: but it has happened. we saw tax cuts in '82. we saw tax cuts in '86. those were off election years but i guess hope springs

eternal. i see ab owes point. with the back and forth on an additional rate for the well to do, obviously republicans are getting anxious this not portrayed as benefit to the rich. people argue back and forth the rich pay most of the taxes. there is great truth in that but i don't know if it will win any democratic votes doing that. they're going after moderate republican votes? what is this all about. >> oh, yeah, oh, yeah. i don't think they would make any of those moves with the intention of being a target it democratic votes. they're concerned about trump voter and trump message. this would be a middle class miracle. they know they don't want to be hammered for this not boosting the middle class enough and being tilted towards top earners neil: across the board would benefit top earners because they pay most taxes are they gun-shy,

no matter what they offer the middle class by comparison, wouldn't be aggregate wise with the upper class and don't want anything to do with it? >> gun-shy changes as you get close to final vote. neil: very true. very true. >> spills into 2018. there is urgency, but the unity is over panic of getting something done. it is the deficit question and top earner versus middle class question that will bedevil the republicans and they would like to pick up with the democrats and problem within the party what trump promises the middle class. neil: i agree with you and you should run the other way, ab. how will this factor out next november? the betting seems get a stacks cut, republicans hang on to the control of house and senate. they don't, they don't. is it that black and white? >> the senate should be able to hang on to. that is really good map.

they don't have many people up for re-election. only two, senator jeff flake, senator dean heller are even in vulnerable seats. there are 25 democrats up for re-election, 10 of them in states that trump won. so in theory they should be able to hold on to it just fine. we're seeing steve bannon and sort of anti-establishment part of the republican party now saying they're going after every republican who doesn't oppose mitch mcconnell, which is most of the republicans there. neil: right. >> it will make things tough. they probably will be able to hold on but it shouldn't even really be a question. the house, there is real concern that it could flip, especially if they can't pull off tax reform. i've had republican house members say, you know, if we can pull off tax reform we deserve this, we deserve to get kicked out of office. that is common theme from conservative freedom caucus wing. they say, real possibility, and not only real possibility, but deserved. neil: those guys are

bullet-proof. they're unstoppable in their own district. >> they would win by 30 points. neil: eliza, a.b. stoddard, thank you very much. keep on eye on markets. concerns about apple which have been a market leader. certainly a dow leader this incredible year. deirdre bolton on what ails this once technology juggernaut. what's going on? >> what ails i think in the short term in the short term, a newspaper, economist daily, apple is cutting supplies for its suppliers for the 8 series. that is not a sure is prize. these are expensive phones for placeholders. if you're hanging on for the 10, chances you don't want to pay 6 699 or 799 for a placeholder phone. neil: they're not cheap. >> that is not free at all. the number that surprised a lot of analysts the amount apple seems to slow production. i want to mention this newspaper based in taipei has not provided

specific sources, and really not given a lot of details. there is a lot of analysts -- neil: fake news. fake news. >> very well may be. could be a competitor saying i have a hot story for you, here you go. neil: make a rumor out of it. we always hear it ahead of a new product, new lawn. now the 10 is rumored -- >> that is apple's super bowl, right? if the 10 doesn't sell that is pressuring the stock. not so much concern about the 8 series but it is about the 10. you read in a few trade publications different features supposedly facing production issues. one that i saw i do think shows significant numbers, apple usually sells something like 10 million phones on opening weekend of every new product line. according to some sources that do seem a little more solid perhaps some of these others with the 8 series, apple is ready to go with 2 and 3 million

only for the x. we know that goes on sale november 3rd. if you're used to providing 10 million and only providing 2 or 3, you're going to the store and they're sold out, that apple is rewarding people who do order in advance online. neil: what if those people are told after the rush in the first hour or so of trading or ordering -- >> exactly. neil: realize march of 2018? >> they say you know what? forget it. i will get an 8 or go do something else. neil: or won't get it at all? >> yes. the more apple iphone xs, happen tell sells, bonanza for the company's p&l. they are basically $1000. apple gets 2/3s of its revenue from the phones. neil: incredible. >> if the x does well, then --

neil: apple you think manufacture this demand mystery? >> i sometimes wonder, when you see so many divergent reports. i don't think they manufacture it but benefit greatly. nothing benefits than pent-up demand. neil: nothing better. deirdre, thank you very much. nfl has a lot of image problems. would you forgive them if they gave you a free ticket to the super bowl? i want you to think about that, after this. 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. and at $4.95, you can trade with a clear advantage. ♪ ca♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone ♪ can i kick it? ♪ to all the people who can quest like a tribe does... ♪

or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com.

neil: way to spur interest as nfl ratings continue to decline. maybe give folks free tickets to the super bowl. nigel ennis on this. what do you think the attempt to placate restless fans? >> i'm an very easy date, neil. i take two tickets front row.

neil: mike that will go a little ways. how but? >> it will not work, neil. the fans are upset about something that has much more emotional, much deeper roots. it is much more visceral than just two tickets to a super bowl game and that of course are the protests occurring by players during the national anthem. neil: nigel, i'm wondering, this would be about maybe tops 500 tickets would be available in a 70,000 seat stadium. given allocation tickets could be more. it is relatively small number but a way of everybody getting in on something i guess but i don't know if it's a way of changing what has been an inexorable slide in ratings and now revenue for the nfl. your thoughts? >> absolutely. "thursday night football" is down dramatically. sunday during the day is down. sunday night football is down dramatically. we're talking about millions of dollars that the nfl has taken in the pocket, and it is

becoming a disturbing cultural divide and what is most unfortunate about it, it is largely based on a falsehood. harvard did a study, i believe last year that showed there was really no, there was no difference or disparity between the number of blacks getting shot versus whites. it is just that when a black person is killed and it seems unjustified, there is tremendous amount of media coverage around it. so, really unfortunate phenomenon for the nfl. for its fans out there. neil: yeah. we are not getting sadly with black on black crime with places in chicago. >> that's right. neil: mike, things are what they are. both players and owners are locked into a position from which it is easier said than done to retreat. i'm wondering what answer will be, the nfl made it clear, 95% plus players honor view you stand for the national anthem. should we leave it at that?

and not to try to keep stirring this whole hornet's nest. is it too late for that? television cameras will obviously be glued on those individuals who do not stand? >> i think it is too late. unfortunately the leadership should have come from commissioner roger goodell, which there is no leadership at all. just gave a press conference just the other day. basically said nothing except there are a lot of issues. well, we know there are a lot of issues. the problem, neil, people do not want to pit sports and politics. it is hitting eyeballs and. analysts lowering earnings estimates for fox and cbs because ratings are down. what the commissioner should have done was work with the team owners, institute ad policy where you had to stand during the national anthem, then work with the players going through other avenues if they have grievances. that whole thing is bogus. this really all started last year with colin kaepernick

wearing socks during practice depicting police as pigs that needed to be cut off right then and there. neil: niger, as far as if it is resolved anytime soon, it doesn't look that way. you have competition from baseball, continued playoffs and world series that could further damage and ding the audience here but, football has encountered these also and these periods, baseball too, after the last strike. what are your predictions here? >> it is becoming engrained, neil. not only for 2017, but if you go back to 2016 when this all started, ratings have been going down precipitously. it is a part of, a bit of a cultural divide. these millionaires and those who are doing well within the nfl should be role models to folk in the hood and the barrio, working class whites that you can achieve anything in the united states of america but instead of

that, you have got a cultural divide unfortunately is widening. i say that with being a big nfl fan. neil: niger, final word. mike, good seeing you. thank you guys very much. latest white house intrigue with janet yellen back at the white house, this time having lunch with gary cohn. they're both on the list to run the federal reserve, be chairman of the federal reserve. people read into that is she giving tips to gary cohn as national economic policy head what it is like to run the federal reserve? is he trying to woo her staying on federal reserve for the boss. this much, we have had a little bit of a drama here after this. . . and? >>by the time they got me an answer, it was too late. td ameritrade's elite service team can handle

your toughest questions right away- with volatility, it's all about your risk distribution. good to know. >>thanks, mike. we got your back kate. >>does he do that all the time? oh yeah, sometimes he pops out of the couch. help from real traders. only with td ameritrade.

: .

welcome back. i am nicole live on the floor

of the new york stock exchange with a record-setting day on wall street. one name that has come under pressure is general electric. it is well off its earlier lows and down over 8% and hit a new annual low today of 2210, the concerns were the current quarter and also the fact that the ceo said the numbers going forward thing the results from the latest were completely unacceptable, to say the least and noted they will be making sweeping changes and exiting $20 billion during the year. taking a look at the dow winners, united health, boeing and goldman sachs, each up significantly. they're doing particularly well, looking at six weeks in a row of dow gains.

also they jump in on the idea of tax cuts being here sooner than later. those three names really account for three quarters of the gai gain. two and half hours left of trading and we are hitting right at session highs right now. back to you pgh thank you very much. now onto the little drama on pennsylvania and avenue concerning a meeting for lunch at the white house today. i don't know if that means janet yellen is being considered for the fed or if jerry cohen might be her replacement. john, thoughts? >> as i see it in washington, there are never any accidents. this certainly wasn't one. i think you hit on the two scenarios. either this is a signal that she will be the pick to continue as fed chairman or, she is talking to gary cohen, basically stressing there will be continuity going forward. >> that would be a tough meeting for her, right because

i'm sure she wanted to be reappointed. a lot of people on wall street, even republicans have been sang given how great things things have been going, don't mess it up. how do you think this will go down for her if she were not to be reappointed. >> i think it goes down very well, precisely because there is calm right now. she can attach that to her resume for life. my argument has always been that the fed's role is vastly overrated. if she believes, and she probably does that donald trump has bad economic ideas, why would she want to tie her reputation to his. this is the best way to go out , if you are janet yellen. >> whoever comes in, and assuming it is not her reappointed, they have some work to do. find a way to smoothly, raise interest rates and also unload

that $4 trillion of debt it has accumulated without really scaring the markets. it's not easy to do that. >> they are borrowing dollars and access to resources, can computers, office space, you name it. everyone says donald trump wants a low interest rate. to believe a fed chairman can make access cheap just by targeting an interest rate is no more lamebrain than presuming new york city can make apartment rentals cheap by imposing artificially low rent controls. there is no difference in the two. the fed can't control the cost of resources. those are set in the markets. i think we give the fed way too much credit, whether the economy is good or bad. >> the charlottesville issue comes to mind with gary cohen, if he is being the guy considered for this because

his criticism of the president and his handling and reaction to that supposedly took him out of the running for this job, but possibly, maybe not. >> it seems like he's back, i don't think there are accidents in washington. this was something that was orchestrated well beyond trump. you will have the fed chairman meet up and have lunch with the person who's vying for the job? i think there's something to that. what what that is? i think you hit on the two important scenarios. >> thank you for taking the time. you might have caught foster feeds a little earlier on the show. they were demoting those who rely on aggregates like the dour s&p 500 or etf's that merit the performance, but that's not the way to go. that's exactly the way ben stein goes. it was one of the most celebrated on earth

celebrating one of the most celebrated mines on earth. i hope to start a needless fight where there is none. right after this.

today, smart planning is helping the new new york rise higher than ever. as the world leader in unmanned aerial systems, we're attracting the world's best talent to central new york. and turning the airport into a first-class transportation hub. all while growing urban areas into vibrant places to live and work. across new york state, we're building the new new york. to grow your business with us in new york state, visit esd.ny.gov. right in the heart of the was in his financial crisis,k state, and saw his portfolio drop by double digits. it really scared him out of the markets. his advisor ran the numbers and showed that he wouldn't be able to retire until he was 68. the client realized, "i need to get back into the markets- i need to get back on track with my plan." the financial advisor was able to work with this client. he's now on track to retire when he's 65. having someone coach you through it is really the value of a financial advisor.

.

. : :

never invest in the stock market. invest in individual businesses. >> so that means i can etf that mirrors the dow for the s&p 500. >> exactly. i've never been a big fan of these index funds because it allows you to invest 20 or 30% of the companies are disasters. >> you know, maybe our mutual friend ben stein disagrees that a lot of individual investors aren't as smart or savvy and if they just invest in an aggregate like something that mirrors the dow or the s&p, et cetera, they would be richly rewarded over time and that's how they should play it. you say what?

>> i say they would be much more richly rewarded if they got rid of all the. [inaudible] ben stein, your reaction. >> i don't think you put the freeze on me at all. >> yes he did, yes he did. i'll tell you what. the data is overwhelming that the ordinary investor, even the high income investor and ultrarich investor with super good advisors cannot outperform the indexes. yes, a lot of them in the index will not do well but enough of them will do well so you come out way way ahead. you cannot pick stocks and less you are warren buffett and then you can do anything. but otherwise you cannot pick stocks and you are way way ahead with the index and the data is overwhelming. it's not just clear, it's overwhelming that you do

better flying the whole market. >> all right mr. smarty-pants, he's a billionaire. while you are close, you are not. >> i am not a billionaire and god bless him for being a billionaire, but there are a lot of billionaires who don't know much about investing in the stock market. he might've just been very lucky. god bless him. i think he's a wonderful man and i admire him very, very much. [inaudible] >> as you might've heard, you have a good sense of humor. part of it is a lot of individual investors get roped in to buying an index where a lot of the stocks are horrific. you say what to that. >> i say to that yes, and some of them will be great, but the data is not cooking.

this is not a cooking show or an exercise show. it's a show about data and the data is overwhelming, by the index, by the whole market, stick with it, add to it, over long periods of time you'll do way better than if you tried to pick stocks, even really great stock pickers cannot defeat the market. >> you seem very sensitive to his criticism. >> i'm very sensitive to any kind of criticism. i'm a sensitive guy. i might my friend neil, i'm sensitive. if he doesn't stop criticizing me, i'm going to start crying. >> okay. let me ask you. if you criticize me one more time i'm gonna cry. >> we don't need that. yours love you so i don't want to go there. although it would be fun. i do want to talk about what's going on in the market. we have the belief that were gonna get tax cuts and maybe on a combination of things, but we had the treasury secretary saying if the tax cuts don't happen.

[inaudible] [inaudible] [inaudible] you never know. make fun of me.

[laughter] >> i am not. >> ominous start crying. >> no, do not do that. one of the finest minds in the country, ben stein. unfreeze. spark cash card from capital one. now, i'm earning unlimited 2% cash back on every purchase i make. everything. what's in your wallet? by listening to an thiaudiobook on audible.ame and this guy is just trying to get through the day. keeping it together. losing it. upgrade your commute. ride with audible. my "business" was going nowhere... so i built this kickin' new website with godaddy. building a website in under an hour is easy! 68% of people... ...who have built their website using gocentral, did it in... ...under an hour, and you can too. type in your business or idea.

pick your favourite design. personalize it with beautiful images. and...you're done! and now business is booming. harriet, it's a double stitch not a cross stitch! build a better website - in under an hour. free to try. no credit card required. gocentral from godaddy. i enjoy the fresher things in life.o. fresh towels. fresh soaps. and of course, tripadvisor's freshest, lowest... ...prices. so if you're anything like me... ...you'll want to check tripadvisor. we now instantly compare prices... ...from over 200 booking sites... ...to find you the lowest price... ...on the hotel you want. go on, try something fresh. tripadvisor. the latest reviews. the lowest prices. retail. under pressure like never before.

and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.

even a day after the fact, the response is international to white house chief of staff and john kelly's press conference is still coming fast and furious as well as the target of his criticism. colin has the latest on all the above. >> you would think it would make this go away, but just the opposite. the president tweeting about it himself in the comments he made on the interview, it he was so surprised by the reaction to the call he made. we'll talk about the second. we have to get these comments or reactions from the political opponents of the administration, you know john kelly was speaking about the congresswoman frederica wilson saying he was shocked she had listened and on the call with the widow of the fallen soldier, but since then she's been everywhere continuing to talk about the story. interview after interview, this is something she told

politico, john kelly is trying to keep his job. he will say anything. then she is local tv in miami. >> you mean to tell me. [inaudible] that the white house is bothering me and my worry, this is amazing. that is absolutely phenomenal. i will have to tell my kids that i'm a rockstar now. >> adding to that, this tweet, he's an enabler of trump, he's a believer in him but makes him as distracted by the uniform. he is reminded that some of us on twitter, there's a lot of reaction to his tweet among other things they said kelly is no longer in uniform but be that as it may. on the other side of it, if you thought the white house is done talking about this after sending kelly out to set the

record straight, not exactly there either. president trump with another tweet last night. the fake news is going crazy with wacky congresswoman wilson he said she is secretly on a very personal call and gave a total lie on content. that's it, the death of a soldier, whit white white house chief of staff says it's the one thing he was hoping we could hold sacred but the political comments keep coming. back to you. >> are they aware that general kelly lost a son? leave all this aside, he lost a son. >> thank you . in the meantime, existing home sales are edging up in september continuing what has been an improving trend for the market. the question is for how long. what you think jason? >> i think a low interest rate environment and job growth and an economy that sets records every couple months, weeks, i

think those things lend for a robust housing market. i think we are going to see that eventually in the longer term, but in the shorter term i think we have to deal with monies been free for eight years before trump took office and we are still dealing with some of the policies from the last administration and i think that will have a short-term negative impact on the housing market. there are some asset bubbles i got created, we overdeveloped in some cities, overseas buyers have pulled back so we have some short-term problems to deal with, but long term i think we will have a robust housing market. >> you hear about pockets of the country, and you are one of the first on the back, but leaving that aside, the question is is there enough supply. unbearably run across regions of the country where there is in certain price points so sort that out. >> real estate is local, there's plenty of supply in

manhattan. there's plenty of supply in miami. in fact, there's an oversupply. we develop too much because money was free. but, and other areas of the country there is a shortage of supply so it's really local markets we have to look at and it's hard to really say, to give a national answer to that. >> leaving some of the extremes out like the new york metropolitan area and miami, you hear a lot of people say even as low as interest rates are, there picking up a little bit but nothing like they were when rates were double digits. it's tough for people going through the process alone. what you make of that. >> it is tough. we wanted to be somewhat difficult because we want to make sure there is skin in the game and a real deposit so we don't have people who are just getting foreclosed on and they don't care. i think we are going to see the administration take some regulations off businesses. >> are they going to go too

far? not that we would necessarily go the no document route but do you worry you go to aggressive on cropping regulations. >> i do worry about that. i think there has to be skin in the game. if you look at canada, there is housing markets that work when you have people who actually have money invested in their homes and we don't want to go back to that 2008 era. >> what about the mood of buyers today? the markets are booming by the prospect of tax cuts. does that factor in? >> if you get factors in for sure, i think if there's job growth and their wages are growing, they will buy homes. i think one thing i'm very concerned about is that we don't have the tool to drop interest rates. so if we do flatline where we

do and to recession, which i don't see it happening right now, but if we did in the near-term, we don't have that tool in our toolbox but i think tax reform must be passed. i think that's the only thing that can get us going and get the economy moving. >> to pay attention to who's being considered for the chair? >> it doesn't matter. i'm not really paying too much attention. >> so you're not looking for someone. >> the economy will drive that. i don't go be a single person. >> so what if we have tax cuts and they offset that and you have and aggressive run-up in rate. >> i don't think we will have an aggressive run-up in rates. we will have a slow, steady rise. >> all right, but for young people who don't know what it's like to get mortgages much higher than where they are now, just a slight uptick is enough to get them out of the market. >> i don't think young people have the same view of

ownership like you and i did and our grandparents did. i think more young people are staying in the rental market longer. i think they will dip their toe if interest rates rise they won't dip their toe as quickly. >> it's not a sacred investment to them. >> i think there's a lot of fear of what they saw happen to some people in oh eight and oh nine. >> they have memories of that. all right. jason, always good to see you. we don't know much more about that, just that the president said the chairman met and wrapped up lunch with the national economic chair and he was a critic who was out of the mix for being the next chair of the federal reserve because he criticized the response of the charlottesville riots back in august. apparently, if this is true, he might be back in the president's good graces a maybe that was janet's way of

giving him some tips. we're making leaps here that probably are justified, but that's the news business. we will have more when we come back. we give you research and data-visualization tools to help identify potential opportunities. so, you can do it this way... or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just $4.95 per online u.s. equity trade. fidelity. open an account today. ♪

. .

neil: quick peek at the dow. we await the white house briefing half a minute away. they could run late. a lot buoyed by better than expected news on earnings front. both might prove short-lived. they're buying now, asking questions later. this would represent the fifth,

i should say straight week for the major aggregates to pull these type of gains. five record sessions in a row, for dow and s&p 500 i believe for both. we're on top of all that. as is trish regan to take you through the next hour. hey, trish. trish: thank you, neil. breaking that white house press secretary sara sanders will speak any minute. i'm trish regan. welcome it "the intelligence report." we're looking at market powering higher above that key 23,000 mark. up 137 points. we are sitting near highs of the session. you know what this is about? it's a lot about optimism. it's a lot about potential for tax cuts and tax reform. the senate passing a budget by narrow, all republican vote of 51-49 and the progress on tax reform, as you can see, it is being felt, on