days. and you expect 24,000. peter kiernan said it, doug schoen said it. today is november the 21st. all the rest. [laughter] our time is up, but we leave you with that thought, 24,000 by christmas. neil. neil: thank you, my friend. we are looking at these markets running up here again on expectations we probably will see a tax cut. more though today, i should stress, and as stuart has indicated on growing optimism of the pace of better than expected earnings. we are just about wrapped up, and they show growth about double what the consensus was. so closer to 10% year-over-year than the roughly 5% that was largely anticipated. and that doesn't account for the surprises that we saw on the upside with technology. we're going to get into that and into the prospect of what happens now with those tax cuts because so much of this seems to be built on optimism. that's what we're going to see. goldman sachs does have a report out that factors them in and

factors them out, and either way the markets continue to advance. we've got market watcher heather with us and dow jones news wire editor glenn holm. heather, let's begin with this expectation that we're going the see the big tax cuts, and corporations particularly are going to be the biggest beneficiaries of the biggest tax cuts;s that is, taking the existing rate from 35 presumably to 20%. i guess the only detail is when it would take effect. what if they don't do what they're expected to do? what if they don't pour it into equipment and jobs, etc., but just into boosting their dividend? things they can do, it's their money -- >> sure. neil: what would fallout be of that? >> that would be very good for the stock market. if it doesn't invest in plant, property and equipment, but if you're still buying back shares and increasing dividends. but if you don't own stocks, it may take some time for the economic effects to play out

because you want companies to use that cash to hire more workers and for domestic investments like capital expenditures. and if they don't have an incentive to do so, neil, you look back at 2004 when we had a tax holiday last, and the repatriation of that $312 billion was actually used to buy back -- neil: you're exactly right. >> -- shares and increase dividends. neil: you're exact bely right, they're -- exactly right, they're free to do that. i always stress, you know, they could just as easily plow this back into the easy things that could get their stock movement up and their investors happy. and i don't think -- and i could be wrong, glenn -- there'll be a pellmell rush to hire people. we're at full employment now as things stand with much higher rates. what do you think in. >> that's right. at these levels of employment, there's going to be a skills gap if they're trying to ramp up hiring in specific high-skilled job areas. also as part of the whole broader tax --

[audio difficulty] influences that would help them to informs. accelerating deappreciationuation and some of these things could help to convert that lower tax rate into repatriated money that is actually invested rather than used to drive the dividend or share price. neil: you know, another feature to this, heather, could be encouraging companies to buy other companies. so you would have the irony -- at least short term -- of producing fewer jobs rather than more jobs. i don't want to be a wet blanket, i just want to be a realist and say that a possibility is they're encouraged to buy competitors out, you know, shrink consolidations, all that stuff. i'm not saying that longer term some of the other stuff, once they do that, doesn't materialize as well and they start increasing jobs and all that. but i do think a number of republicans -- to say nothing of average folks watching this -- would be surprised by that. >> yes, i do think you'll see an uptick in merger and acquisition

activity. look at all the corporate cash on hand right now. neil: right. >> $1.9 trillion, neil. apple actually leads the charge in the corporate cash on its balance sheet, 15% of that cash comes from apple. so i wouldn't be surprised if you see a company like apple looking for an acquisition target. neil: yeah. we were just showing a graphic showing nearly $2 trillion in cash that largely technology companies have right now. they're a big chunk of it. glenn, they're the ones everyone seems to be watching because they're the ones who technically have the resources to buy all these media concerns that have been all the rage of late. what do you see happening to that? >> well, definitely this market is being buoyed by the tech sector, and that's what everybody's got their eyes on. there's a handful of companies outperforming every other major sector when you're talking about your amazons, your apples, your alphabets. so, you know, their fortunes in many ways portend the future for the markets. and with all of that cash

they're sitting in a good position, you wonder if more tech companies will open up new opportunities elsewhere in the country as amazon looks for its second headquarters, for example. neil: we are getting these strong quarterly results, guys, and i'm just looking at some of the latest better than expected numbers out of medtronic, even lowe's. it's an eclectic bunch, but whatever the slowdown in corporate earnings in this later quarter from prior quarters, not much of one, it's at least more widespread. in other words, more industries benefiting not just, for example, technology. what do you make of that? >> you're right. there might be some sector rotation in terms of investors buying other sectors as well on the backs of corporate earnings across the board being strong. it's not just tech, right? so if we see a technology sector kind of decline a little bit but we see other sectors like financials and energy participating in this rally, i think that's a positive for the stock market. neil: you know, glenn, when you and your buddies at dow jones,

you know, sort of crystallize what's going on in the market world, great soothe sayers that you are, what are some of the worries you like to advance? i know you always present, as does the journal in aggregate, the bull and the bear argument on these markets. the bull argument being, you know, you get tax cuts, all of a sudden these multiples look pretty affordable. this isn't a rich market. you don't, maybe less so. goldman sachs seems to be figuring in the best of both worlds. what do you think? >> well, you're exactly right, neil. you know, some of the investments that major hedge funds and other groups have been making right now in a very low to no interest rate environment may not look as good when rates start to go up. i'm flagging that the central bank risk is out there in the markets that could have an effect as rates start to go up and we see how the economy, the consumer as well as the banks and the companies out there, how they change their pattern of behavior when it's no longer a zero to below zero interest rate policy around the world. neil: all right.

guys, i want to thank you both very, very much. we were talking about investors right now looking forward to big deals to come. the justice department might have unintentionally, maybe intentionally, put the kibosh on that by saying that it's going to protest or fight and challenge in court that planned merger between at&t and time warner. but it put it chilled for -- put a chill for any and all around the media sector on the belief while they might not be denied, they could be significantly delayed. let's talk to lawyer david the mall toe on this -- david malto on this. what do you think? >> i think that's a significant concern not only in media, but also in health care. and this deal will raise risks in deals like cv s/aetna. those lawyers and companies have to go back to the drawing board to figure out how much risk they really face and whether the justice department will take them to court too.

neil: we always seem to look at it as political, yet it was in ronald reagan's justice department -- if memory serves me right -- that you had the breakup of at&t. so what drives these things, or could it be donald trump, no fan, for example, of time warner, key component cnn, that he didn't want to see that go through, didn't want to see cn, in the the beneficiary of that and made it very clear that it would be a good idea the justice department pursue this. now, we do know the justice department so opposed to this deal, but what do you make of the role a white house can play, has played, will play? >> well, neil, regardless of the role of the white house, ultimately a federal court judge has to decide based on the facts before him and the law that ultimately consumers are going to be harmed from this merger. and the justice department has a really tough case here. they haven't successfully gone to court since the nixon administration --

neil: is that right? >> -- to block a vertical merger. in fact, no vertical merger case have been brought since the carter administration. neil: so what happened in the case of the at&t breakup at the time? that went back and forth with legal challenges, but maybe that is an interesting precedent here. >> well, yes, it is. and what the doj believed was that having a monopolist in all these different aspects of the market led to higher costs for consumers and less innovation. of course, the market is remarkably different now, and one problem with the justice department cases is that they've taken a teeny snapshot of competition and really what you have to look at in a dynamic market like this is where is competition going. does at&t really have the power to foreclose competition when programmers and content providers have so many more alternatives to get their products to the market. neil: you know, i always sense that in the moment we forget that a regulator's concerned about monopolies. i can remember when they were

worried that netscape was taking over the world, and when i mention that to young people now, they say, net what? we used to worry about dominant players like aol on the internet or even prodigy prior to that that had some apparent birthright to constant monopolization of an area, and they're afterthoughts today. so in this case, how do, you know, regulating authorities go on this? and ultimately, what prevails? >> well, ultimately, neil, history predicts the future. and what's the problem for doj is that there's not a strong history that suggests that the kind of anti-competitive scenario they've described in their complaint is likely to happen. there isn't evidence that distributers have been able to foreclose competition in the fashion that they describe. it's funny you mention aol. i worked when i was at the ftc on the aol/time warner merger, and all the concerns we had in 2000 when we brought that case

disappeared relatively quickly because technology and the forces of competition change the market so radically in a short period of time. neil: david, you're so right about that. that's why i always wonder when you judge the value of this particular transaction -- that is, at&t with time warner -- whether it gets rid of key components or not. think of all the big players today like facebook and others that are growing exponentially much faster and are already in terms of value much bigger. so how, how do regulators deal with that, how would a court deal with that? >> well, what a court's going to do is it's going to talk about what's the likely future competitive impact. and that's where taking a snapshot of competition right now might be deceptive. the court's going to have to look how these other forces -- facebook and other firms, netflix, etc. -- how are they going to change the nature of competition. and if you just look at the time period between the comcast case

that the justice department brought and now, competition has changed a lot. and that upper trajectory of competition is going to continue to occur regardless of whether or not this merger happens or not. and i think that's going to be crucial for the judge in determining whether or not consumers were harmed. it's hard to explain how consumers are going to be harmed by this deal. neil: yeah. you raise good points, all. david, thank you very, very much. have a great thanksgiving. >> thank you. same to you, neil. neil: all right. well, isn't this rich? democrats rethinking taxing the rich? why what's going on in new jersey ain't stay anything new jersey. i'll explain. ♪ ♪

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neil: all right. if you live in a high taxed state you're probably worried about the fallout of a tax cut plan that could remove being able to deduct those high taxes that your residents pay in a high-taxed state. republican new jersey state senator michael doherty joins us now. senator, thanks for coming. i appreciate it. >> good afternoon, bill. neil: that's fine. steve sweeney, the president of the new jersey senate, said to observer online, he is a big democrat, wants to work with the

new governor-elect governor of your fine state and my state too i should reveal, he has said he voted for that type of legislation seven times. to me it's a top priority. goes on to say, but i'm actually getting very, very nervous now with what's happening in washington. in other words, hiking taxes on people that could up and leave as a result because they can't deduct that anymore, might be counterproductive. what do you make of that? >> seems a little hypocritical to me, neil. we're already seeing folks leaving new jersey. business owners they can live in florida for six months, one day, avoid new jersey's very high income taxes. and now that, at the federal level we're seeing some changes in the federal income tax code. we're hear about how, new jersey may be uncompetitive. but at the same time, we have governor-elect phil murphy, senate president steve sweeney, they're committed to raising the income tax now to 10.75%. making new jersey among the

highest in -- neil: highest rate. talking about the highest rate. now, sweeney, who will be my special guest 4:00 p.m. eastern time on "your world" on fox news, he was saying maybe not. so what do you think of that? >> maybe not what? neil: maybe not hike that tax? in this environment? >> well he is certainly reconsidering that. , if tax goes to 10.75% in new jersey, somebody in new jersey making million dollar income, would pay $107,000 to the state, and then also on top of that if you don't get the deduction anymore at the federal left, you're looking at $150,000 just because you happen to live in the state of new jersey. so millionaires are pretty smart folks. they're going to move their operation out of new jersey, maybe move to texas, one of the states doesn't have income tax. neil: you might be right. i don't think in the end they really care.

i mean if they are pushing as they are a minimum wage of $15 an hour, the state doesn't pay for that. they put the onus on the business, there are number of initiatives the governor-elect wants to pursue, president of the senate, they have a full run in your state, my state, they can kind of do what they want. i don't think they really think through the possibility of people will leave thinking it won't happen. democratic governors have seen it. republican governors have seen it. money is fungible and moveable, isn't it? >> absolutely. we saw this, the democrats had control when i first got in the legislature, mcgreevy and john corzine. they raised taxes 1 is 5 -- 1 is 5 times. governor christie i haven't always agreed with him. democrats when he was governor tried to raise the state income tax five times, governor

christie vetoed each and every time. now we have a governor-elect, phil murphy, already promising free college, universal health care. he made some promise, we added them up and new jersey was $75 billion of new additional spending. he will have to come up with a funding source to keep all the promises he made to the public employees and his union buddies. we're frankly sick and tired of paying the bill here in the state of new jersey. there are middle class people in new jersey that they pay property tax bills of $25,000 a year, and now, he wants to, governor-elect murphy and sweeney, they want to increase the state income tax. people are not going to stand for it. they want to live in freedom. they want to make a living, not turn it all over to the state government. neil: you might be requirement. they did overwhelmingly elect the positive-elect. that was part of the package. i want to ask you what you feel

republicans are doing here to force changes in the high-taxed states so taxpayers there can't write off their taxes. what do you think? >> i think there is some positive impact. in new jersey we had the entire election, murphy and senate president sweeney said we're absolutely raising the state income tax to 10.75%. now they have had to rethink that. it will put pressure they make the tough decisions n new jersey, everything the government does cost three to four times as much than any other state. it's a fact. we look how road construction projects are 12 times the national average. nobody in new jersey wants to look how we spend the money and spending it more carefully. they want to look for a new pot of money around the corner. this will make murphy and sweeney rethink before they sock to the taxpayers once again. neil: senator, we'll watch it closely. thanks for taking the time? thank you, neil. happy thanksgiving. neil: you as well. north korea, how much more insult can you add to their

injurious behavior? apparently this will be the final think that breaks their sort of obstinate, missile-hurling back. building a website in under an hour is easy with gocentral... ...from godaddy! in fact, 68% of people who have built their... ...website using gocentral, did it in under an hour, and you can too. build a better website - in under an hour. with gocentral from godaddy.

neil: all right. we are told they spoke on the phone. talking about president trump, vladmir putin in russia, speaking for about an hour. they discussed syria, ukraine, iran, north korea, afghanistan. vladmir putin is kind of doing a global round of calls right now trying to come up with consensus on syria. apparently they're not finding it. labeling north korea as state sponsor of terror which apparently big deal to the north koreans. that is one thing they would rather not see. they were once labeled some years back. what it means now to be relabeled that? let's go to harry, if that changes any behavior here. he is with the center for national interest, director in

washington. harry what do you make of that that? how does that change things? if you're in north korea, and you've been sanctioned, probably more than any other country, you have been targeted more than any other country for economic, you name it, now, this, added measure what does it do, could it change anything? >> neil, to be very frank with you, it isn't actually going to change anything. it is great foreign policy symbol level if you will but i'm not really against the move per se. i would argue it is a mistake is the timing. keep in mind north korea has not tested a missile for 67 days. that isn't because of what the trump administration has done. but if you break down the data, they larry test missiles in the fourth quarter. 2013 and 2014, they didn't test. neil: why is it that, is it weather issue or what?

>> it is resources. a lot of north korean farms are near army bases, they need actual army personnel to farm them. because they need the fuel to move fuel across the country n fourth quarter, the north korean military does a lot of drilling. so they pull back on missile testing. neil: you're the expert here but you should worry because i yesterday heard this, the timing couldn't be worse because if you're trying to get this guy to sort of buckle a little bit, change his behavior a little bit, you maybe emboldened him to be more stubborn, right? >> yeah. where this goes i think everybody needs to buckle their safety straps. if i'm north korea i will want to prove this has no teeth so to speak. if i'm kim jong-un, what i'm going to do, i will test a missile, probably our time wednesday night, just to get -- neil: really? >> get the american people's attention. absolutely. think about it late july third, the north koreans tested a missile on 4th of july. they wrecked my 4th of july

plans. if you look at timing couldn't be perfect. neil: my staff criticizes me, i'm always obsessed whether the south korea will ever get the winter olympics off, given increasing acrimony between the south and the north, concerns what the north could be up to. this could be a very disrupted event, if not out right canceled event which might be what north korea wants, even though the south offered to hold a lot of winter venues in north korea. the north koreans declined that. what do you make of likelihood the olympics still go off without a hitch? >> i think they're going to go off. neil: will all countries participate though? or will some just say, i don't know? some will probably hold back. if north korea this is ultimate pr gift. if i'm kim jong-un i hold off my most advance icbm i will test it during the opening ceremonies. you will never get a bigger media opportunity than that.

the north koreans will do something when it comes to the olympics. question what it is going to be. neil: when you say that i can't think of anything save of sabre rattling, launching missiles to scare the you know who out of people. anything beyond that? >> if ten shuns are really high, i'm north korea i don't want to bomb the olympics do something that will unite the world against them, you could launch a massive cyberattack. attack tv feeds to the world. there is a lot they could do. this is really easy for them if they want to put their full resources into it. neil: harry, you're a great guest but you're a scary guest. good to see you again. have a good thanksgiving. >> you too, neil. neil: you're probably not surprised to learn this, but cbs news has gone ahead and fired charlie rose over the sexual misconduct allegations. yesterday suspending him. today firing him. he was on top of the media world, one of the most respected

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neil: it didn't take long for charlie rose to get kicked out of cbs. and cbs knaus president david rhodes issued a statement there is nothing more than insuring a safe and professional work place. charlie rose is out. keeping with a theme that seems to be persistent and rather annoying if nothing more than an on going development, what to make of all this, hits so many fields, some times, right through today, ap is reporting that democratic congressman john conyers is denying a buzz feed separate story about sexual harrassment settlements on his part. to fbn's hillary vaughn. what is he saying? he is saying it is not true, right? reporter: right he is denying these allegations. the ap reporter knocked on the

door and he didn't settle with woman and claims are not true. he is facing allegations that he paid off a female staffer with taxpayer money to silence her. in a buzzfeed report, conyers allegedly made sexual advances repeatedly harassed her, exposed himself and eventually fired her when she wouldn't suck sum to his staffers. when she filed a complaint, conyers used a secret bureaucratic process congress set up and the it came from his office budget. moments ago the congressman said he is denying these claims. that he didn't settle but the congressman is not saying they didn't have any idea this woman was paid off. top democrat in the house, nancy pelosi was asked if she knew about the payoff. pelosi said no. the current process includes signing of non-disclosure agreements by parties involved. congresswoman jackie speier introduced legislation that will

provide much-needed transparency on these agreements to make much-needed reforms. speaker paul ryan calls the report extremely troubling. he also says he knew nothing about it. former house speaker john boehner he found out about the settlement through buzzfeed's reporting. congressman conyers is denying the settlement but four other conyers former staffers have signed affidavits that back up the claim, that conyers used his position of authority as the longest-serving member of congress to blacklist women who rejected him. they say this behavior was not an isolated incident. one male ex-staffer tells buzzfeed he set up a meeting in december of 2011 to discuss the congressman's behavior and his quote, misuse of federal resources. now neil, congress's office of compliance that handles these types of related complaints has paid out more than $17 million to settle over 260 complaints in the past 20 years. of the neil? neil: wow. all right.

hillary vaughn, thank you, very, very much. switching to the senate, there is that al franken case, what to do there. some are calling for him to resign. others saying they have to do something. to "politico" election reporter alanna shores. where is this one going now, do you think? >> right now democratic leaders are hoping that senator franken can hang on. you saw a couple of liberal advocacy groups, long-time allies basically we want him gone. let's have a resignation. however not the entire liberal community has turned against him yet. neil: word or resign illinois governor is democrat, right? >> minnesota, actually. neil: yeah, i'm sorry, minnesota. so he would in that case they would replace a democrat. presumably a special election. but we're getting ahead of ourselves. i interrupted you. go ahead. >> i was basically through, honestly telling you that liberals are split. democratic leaders are hoping he can hang on to survive the ethics committee investigation. one more allegation and it is

safe to say things will get a lot worse. neil: you know, there is then, roy moore situation. a guy who could be coming into the senate. what the senate deals with him in event of charges decades old. allege that he had relationships with underage girls. i'm wondering how the senate and the house sort of coordinate on this sort of thing? because, first of all, i didn't know that they have available to them fund that they could use to deal with these types of cases, but, there is sort of a bipartisan problem there, isn't there? >> absolutely there is a bipartisan problem there and it is important to remember this. this fund we're talking about, the money for the conyers case did not even come out of that fund. so we have no way of knowing how many of these cases are settled with personal office money which as your reporter noted is also taxpayer money. neil: so you have conyers denying it. wouldn't there simply be checks that would show it, either his

signature or you know, staff members signature? >> agreement was structured to avoid having separate checks. it essentially brought the aid accused him back on as temporary employee on the payroll. buzzfeed did confirm the dates tracked with the agreement. neil: i know i'm comparing apples and oranges, if you indulge my point here, this guy coming from a network very familiar with this type of story, last year, year-and-a-half, now the charlie rose situation. neil: is there a sense on capitol hill this is pervasive problem, that i have heard some liberals for example, calling for laws to slap down on it, or exact standards that go beyond just behavioral guidelines? what is the latest sense you're getting down there? >> absolutely there is a sense it's a bipartisan problem but, there are house republicans who have signed on to jackie speier's bill.

no senate republican signed on to the counterpart bill introduced by kirsten gillibrand. it is bipartisan but the outcry is yet to translate of serious support from both parties to fix it. neil: what i notice, maybe you brought this up in the past and written about it, this idea that it hits both parties major figures. and that there is reluctance going too aggressively on one side or the other side criticizing that side because they have problems on their own side, you know what i mean? >> i think roy moore safe to say is exception. mitch mcconnell making a very clear statement that he believes these women and does not want roy moore in the senate. beyond that, however, i definitely think that holds true. both parties know that there has been bad behavior within their own ranks, they don't want to get into a hypocrisy tit-for-tat. neil: what do you think the president weighing in on al franken? many argue that is case of those in glass houses you know how the rest goes. what do you think of that?

>> certainly he made it difficult for vulnerable republicans on the campaign trail hoping to avoid it, not get questions whether they stand with the president given number of accusers. neil: good stuff, very good insight, alanna, thank you so much. i appreciate it. then there is life and death issues like security ahead of the thanksgiving day parade. they have to worry about that. that is a pressing issue, not only in new york but elsewhere where they battening down the hatches for christmas shoppers, black friday, ahead of that in the christmas shopping season. in new york especially they're sparing no expense to make sure everything goes smoothly with the kickoff with the parade on thursday. more after this. is this a phone?

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neil: all right, it is going to be cold. that seems to be understatement. meteorologist adam klotz in the fox weather center with the very latest. what are we looking at, adam? >> hey, neil. a couple things we pay attention to as we track across the country with the holiday weekend or long holiday weekend. folks in the northwest dealing with perhaps the biggest system as far as something that may impede travel. we're looking at forecast models bringing big rounds of heavy

rain, four to six, some cases eight inches of total precipitation. with that system, enough to slow down travel next couple days. the other system we're paying attention to, this one bringing a lot of cold air, not a ton in the way of moisture. there will be showers, some rain, even snow fluries with it. what it is really bringing, neil, cold air you were talking about. temperatures drop as a result. it will be frigid across the northeast by the time we get to easter, or thanksgiving, getting way ahead of myself. here is what we're looking across the country, green is in good conditions. that is what we're seeing. folks beginning that travel. continue into wednesday, just a couple trouble spots. up into the pacific northwest, where a lot of rain is on the way. by and large looking mostly green once again which will be good for travel. here is your thanksgiving day. if you're on western side of the country, really warm spots. temperatures in the upper 80s in phoenix. close to 90 in l.a. where is the cold air? that is a real cool system. across the midwest, these are day time highs. temperatures in the upper 30s,

lower 40s. neil for the parade on thursday we'll look at temperatures that morning in the mid to upper 30s. so definitely cold across the northeast as we get closer and closer to the weekend. neil: this is kind of how it should be this time of year, right or no? >> a little colder here in the northeast. you're looking at lots of folks it will be absolutely gorgeous. just depends where you are. neil: i hear you. adam, thank you very, very much. ahead of the big day a lot of people are gearing up for thanksgiving by getting their groceries, that's a giving but a lot of them are doing it online. they're not going into the store, having it online. jeff flock on the growing trend what it means. hey, jeff. reporter: we have spent the entire day, neil, delivering groceries, i learned if the television thing doesn't work out for me because i have a future. tara does. this is something called shift. we have driven up in front of a guy's house she will deliver groceries to. this is uber about for grocery

delivery. you sign up like an uber driver would. the store, they partner with stores. there she is. they partner with stores around the country. this is meyer she got the groceries from today. in south and west, all sorts of places have partnered with this app called shipped. tara atkinson, you're bringing flowers. >> i am. reporter: you do this as part-time job because you have a family at home, and you are able to make your own hours? >> i am. i love flexibility being a shopper. i decide what days for me to work and what works around my kids schedule and family's schedule. it works out so well with the flexibility. being part of a bigger company that loves its customers. reporter: you're working around us. let you do what you do here. look at grocery stocks, if we can. you know, the big players, kroger, safeway, five-year returns, they made money. amazon of course is a big player. and when you look at online delivery, it is actually a

fairly small piece of the pie right now, about 3.4%, but stores doing it for a while have actually, you know, increased their market share. i think these folks are expecting us. i hope. yeah, or we got the wrong house or they say get off my lawn. >> hi, carla. how are you. >> i brought you this. you're doing thanksgiving. giving a little something for the table. >> i appreciate that. >> bring it into your counter today? >> great, come on in. reporter: we can come on in. we must have hit the right house. i talked about amazon, neil. if you put numbers up, amazon has more action than most people in terms of online delivery but the size of the order is bigger for apps like this. hi, there, i'm jeff flock from fox business. >> nice to meet you. reporter: hi, carla. thanks for letting us come in today. why are you doing this? you're lazy don't want to go to the grocery store, stand in line for hours? >> it is so convenient.

i am online, have it delivered at home. reporter: you trust tara to pick up the right bananas? >> absolutely. i get the best produce and meats? reporter: how long have you been doing this? >> started in july. maybe august. reporter: you like it? >> i really do. reporter: all right. thank you so much by the way. for the, this is also kind of the gig economy now. uber, that sort of things. make your own hours. tara has a child with special needs. she needs flexible hours. this enables her to do that she lost her full-time job because she had issues with her child having to go to the hospital, that sort of thing. this totally works for her. so there you go, we'll get out of this young lady's way. the future, neil, perhaps, of grocery delivery. perhaps a future for nice like us, if everything else turns

south. neil: you know, jeff. i don't recall her inviting you into the house. you waltzed in. reporter: she seemed okay with it. she is block the door. you were okay with us coming in there? >> absolutely. that was fine with us. reporter: we wanted to double-check that, so we didn't get arrested. >> not at all. i knew you guys were coming. reporter: thank you. thank you. we're good. we're all good. neil: she seemed petrified. there are the turkeys. reporter: there you go. neil: just you and everyone else jeff flock, have a wonderful thanksgiving. i don't remember. did the homeowner invite him in? maybe. no, of course. didn't happen. meanwhile, trying to protect a lot of homeowners, a lot of people going to the thanksgiving

parade, whether they go home or not. one of the biggest events every year in new york city. it attracts very big crowds. they are sparing no security costs to make sure it is safe for all involved. former nypd detective tom byrne any. tom, how is it looking there. >> good afternoon to you, neil. how are you today? everything is shaping up. for anyone walking around midtown you see security measures in place as far as barriers and sand trucks being put into place. this year, needless to say because of recent terrorist attack we had last month the nypd is stepping up the general detail they would normally have. this is one of the biggest events they have to police every year, right? because of that the detail is usually very large-scale detail of police officers. probably the biggest event that we have throughout the year. so, this year because of recent events, because of recent mass shootings, more importantly the terrorist attack we had, things

are being bumped up a notch. people should be prepared for that. neil: one of the things i do notice, obviously comes up, i believe, mostly 6th avenue from central park. a lot of foals now, that is your folks and people in the security arena, they close off all the cross streets along the parade route. that might cause a traffic nightmare but a double measure of safety, right? >> i would suggest to people, if you have any thoughts coming into the city, i suggest you do. come watch the parade. it's a great event. neil: absolutely. >> as far as the weather concerned, it will be a beautiful day and will be cold. people have to bundle up for that, if you want to drive in, absolutely do not do that. absolutely not think of driving in here, what so every. take mass transit. it is plentiful. get in early to get a good spot. hunker down. it will be a long day.

be prepared for extra security measures people may not have necessarily seen in the past. that could result in random bag checks, that will result more police personnel and more checkpoints getting in. people will not be allowed to bring large coolers. won't be allowed to bring umbrellas, things of that nature. be prepared for that, be prepared for the day, with a lot of security in place. neil: when they get ready for an event like this, i mean how do they screen those crowds? >> the uniform presence itself, people will see increased in the uniformed presence of police officers on all these streets, all these checkpoints as well as the marked vehicles but there is also going to be an increase of the plain clothessed officers as well. they will have group out with the armed police officers you see in the clip. and general detail at these

parades and you won't see a large increase in the plain clothes presence that is there. the under cover units, counterterrorism units, people there as well as people in plainclothes. they are out and about looking for all kinds of things. neil, the critcan thing, people coming to and after the event leaving, if they see something doesn't sit and doesn't connect with them alert the authorities immediately. that is critical in these large-scale events. neil: thank you very, very much, detective. appreciate night anytime. have a great thanksgiving. neil: meantime, speaking of thanks giving the president is about to pardon two turkeys. two of them well, they're actual turkeys. es, a line of products that allow you to take advantage of growth opportunities. while maintaining a level of protection in down markets.

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neil: all right, the president is about to do what presidents do, a signature part of that job -- this goes back, i believe, to dwight eisenhower, someone told me harry truman. again, this president will get a shot at it. also letting you know ahead of that, that john conyers -- the congressman who has been charged with making improper statements to and advances on women in his staff over the years -- has said that it's not true. i have long been and continue to be a force advocate for equality in the workplace. i fully support the rights of employees who believe that they have been harassed or discriminated against to assert claims against their employers. that said, it's important to recognize that the mere makeup

of an allegation does not mean it's true. he goes on to say that in this case, it is not true. i do want to quickly go to darrell issa here, the california republican house oversight judiciary committee member. we are seeing more such cases or charges of this, congressman. does it disturb you? >> it does because when you look at 40-year-old charges, you can see that was yesterday, that was the way it used to be, but when they're current claims, as congresswoman spears and others have made, i think they have to be investigated because we have a standard today that says this is completely unacceptable, and we need to enforce that standard. neil: but, you know, the charges against roy moore, you were alluding to earlier about charges that were decades old, they do involve underage girls. if he were to get elected, do you think the senate -- and i know this is different, it would be the senate -- should look into that sort of thing, should have investigations into that? >> well, i think there has to be a statute of limitations on any

claim unless it is, in fact, you know, a felony that's still chargeable. and, you know, his is sort of an extreme case of one individual who has made a claim that she was underage. and i don't want to get into that any more than i want to get into bill clinton or whether harry truman actually pardoned a turkey. i think what we have to do is we have to look and say we have system accusations in realtime, both in hollywood and in washington, and looking into them causes people to realize this is unacceptable. so the question of whether you look into these high profile cases is not only the merit, but it's also the signal it sends to the rest of america. and i think that's worthwhile, and i think that's where our emphasis should be. certainly, the house and senate ethics committee need to investigate any current claim. neil: people are going to look sort of jadedly at all of this, congressman, say, well, republican or democrat, whether it's in congress or in corporate

america or in the media -- certainly this place no stranger to these type of allegations -- and now the latest developments on charlie rose who's been fired from cbs. what do you make of all this? >> well, i think there's a standard that many people don't realize is in place. i think a lot of people are living in the past, assuming that these rules are not real. but whether it's an off-colored joke that offends somebody based on gender or some other differential or, in fact, it's unwanted advances, i think we have the get realistic that the standard is what it is, it should be pretty well understood, and it should be enforced. it should be enforced particularly in the workplace. i think when you go out to a bar and somebody says something next to you, that's a different environment. but if you're an employer, i think you have to recognize you have an obligation both in your own conduct and in the conduct of others that work for you. and, you know, i don't see any problem with enforcing it.

the house and senate ethics committees need to look at allegations. hollywood needs to soul search about whether the casting couch is still inappropriately being used. neil: you know, you're one of the richest united states congressman. you've had a very, very successful business career. there are many in congress who are saying that maybe it's time for washington to come up with stiffer penalties, laws, whatever you want to call it to deal with this sort of thing. what do you think of that? >> well, i think the enforcement of what we have is critical, and anytime that you come to washington you say there's no law and here's a wrong, i think it needs to be considered. but in this case termination of employees with severing their contracts and their benefits is certainly important. members of congress, there's only been 20 thrown out in our entire nation's history and 11 were confederates.

so i don't know that we're going to throw a lot out. but investigating and sanctioning and then perhaps their not being reelected is certainly a good start for inappropriate behavior. and i'm not talking about any one member, i'm talking about the institution setting a high standard and being accountable to the public. and i think it's underway. i just hope that people will not dredge up things from the past thinking that's going to make a difference. what's going to make a difference is inappropriate behavior that's going on in the recent past that could be called out and cause people to change in the current day their baer. neil: all right. >> and i think that's extremely important, that we focus on how we can change the culture. neil: okay, congressman. very much. the president, his young son barron, wife melania, his first pardoning of two turks. >> happy and blessed thanksgiving. and i hear that beautiful turkey. [laughter] we are here today to continue a

wonderful american tradition. today in the spirit of thanksgiving i will grant a presidential pardon to a turkey. [laughter] i'm especially pleased that we're joined for this great occasion by carl wittenberg, chairman of the national turkey federation, along with his wife, charlene, and sons nate and wyatt. it was 70 years ago that the national turkey federation first presented the national thanksgiving turkey to president harry truman who, i might add, did not grant the pardon. he refused. he was a tough cookie. [laughter] today i'm going to be a much nicer president. over the past ten months, melania and i have had the pleasure of welcoming many, many special visitors to the great white house. we've hosted dozens of

incredible world leaders, members of congress and, along the way, a few very strange birds. but we have yet to receive any visitors quite like our magnificent guests of honor today, drumstick. hi, drumstick. oh, drumstick, i think, is going to be very happy. [laughter] i'm pleased the report that unlike millions of other turkeys at this time of the year, drumstick has a very, very bright future ahead of him. drumstick was raised on carl and charlene's turkey farm in douglas county, minnesota, with the help of five young women from the douglas county 4-h chapter who are here with us today. and i want to say great work. where are they? please stand. great job, you've done. [applause]

4-h. that's great, thank you. upon being pardoned, drumstick and his friend wish bone will live out their days at gobbler's rest. beautiful place. it's custom built, it's an enclosure on the campus of virginia tech. tremendous school. there they'll join tater and tot, the two turkeys pardoned last year by president obama. as many of you know, i have been very active in overturning a number of executive actions by my predecessor. however, i have been informed by the white house counsel's office that tater and tot's pardons cannot under any circumstances be revoked. [laughter] so we're not going to revoke 'em. so tater and tot, you can rest easy. i'd also like to thank the national turkey federation for bringing along two other turkeys

from jindall's turkey farm in pennsylvania, the great state of pennsylvania. we're donating these turkeys the martha's table, a truly fantastic charity right here in washington d.c., which provides warm meals to people in need. they do a fantastic job. before we get to the pardon, i would like to take a moment to extend our very heartfelt special message: thanks, thanks, folks, to the finest and bravest people in the entire world, our great men and women in uniform, the military, law enforcement, first responders. these are incredible people, so thank you. many of you are always -- and you know your loved ones, and you're far away. and you spend so much time away. this thanksgiving i want each of you to know that we're forever grateful for the incredible job

and for the incredible sacrifices that you and your families make in defense of our nation, our freedom and our truly great american flag. i'd also like to express my thanks to the wonderful citizens of our country, the people who care for our communities, raise america's children, uphold our laws and our values and make this amazing land into our national home. as we gather together with our families on thanksgiving and give thanks for our many blessings, we are reminded of the national family to which we all belong as citizens of this incredible country. this thursday, as we give thanks for our cherished loved ones, let us also renew our bonds of trust, loyalty and affection between our fellow citizens as members of a proud national

family of americans. and and now i think, drumstick and wishbone, would be very thankful if we would just get around to the pardon. they say enough talk. please pardon us. so i want to thank everybody for being here today and wish everybody a very, very happy thanksgiving. very special people, a very special cup. thank you very -- very special country. thank you very much. thank you. [applause] [inaudible conversations] >> 36 pounds. that's a big bird. [inaudible conversations] are you ready, drumstick?

okay? drumstick, you are hereby pardoned. [laughter] [applause] thank you very much, everybody. thank you. [inaudible conversations] >> you going pardon any people? [inaudible conversations] >> thank you, everybody.

[inaudible conversations] [applause] neil: all right. well, as you can see there, drumstick looks absolutely delighted. i know they always pardon two turkeys. i didn't hear him pardon formally wishbone. i always wonder if that's like a miss universe winner that if miss universe should somehow not be able to fulfill the role, the backup candidate would. whether that would be wishbone, i don't know. but drumstick is clear of being on the dining room table. wishbone as well. and young barron, of course, delighted with that. sometimes these turkeys can act up, and that did not appear to be the case this year. but good news for the president, this is one of those rituals i think presidents secretly do enjoy. there are some memorable incidents with some over the

years. barack obama's last a pardoning of turkeys last year came to mind when he had his young nephews with him and said, you know what? i'm going to keep doing this after i'm out of the white house, i enjoy it so much. i don't know if that's the case with the former president. i do know with this one, his first official pardon of drumstick, wishbone as well. so he's off to the races. this generally gets bipartisan support. a lot of people feel for the turkeys involved. as far as i know, they try to avoid anything going wrong where they don't end up on the farm, but it looks like everything is okay. and drumstick is just overwhelmed. when we come back, the first exclusive interview with drumstick. [laughter] stick around. are you on medicare?

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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. >> okay? drumstick, you are hereby pardoned. [laughter] [applause] neil: immediately drumstick thanked the president. [laughter] okay. drumstick came from ucla. >> oh! neil: oh, all right. work with me. anyway, drumstick and wishbone, they always are have a backup

turkey, i'm told. they're micking up drumstick, we'll be talking to him shortly. but this ritual, a passage of presidencies. i always get a kick out of it. i'm with charlie gasparino, connell mcshane -- >> i was going to say good thing don jr. and eric weren't there, because we know they like to hunt. >> oh, come on. >> drumstick would have been dead meat. neil: is that where we're going? >> the other thing is i could have done without the close-ups -- >> well, that is a fair point. neil: no, it is not! it's a childish point. >> it was a little distracting. >> be that as it may, childish indeed. neil: i did want to get your guys' take on all of this at a time -- and they were barking out questions to him, the press is the press -- the tax cuts thing is in limbo, and the a lot of people that looks like a turkey. >> aha. [laughter] neil: is it in trouble here? in danger of not being pardoned? >> i think it's in trouble. i don't think that it's dead by any stretch of the imagination.

neil: so like drumstick and wishbone, it survives. >> it could. they're worried about mccain -- neil: drumstick's worried about mccain? >> now you've got me confused. do you want me to talk about turkeys? neil: no. >> i've got rafaeling in my ear. -- ralph yelling in my ear. that's enough! mccain is a no vote -- neil: really? you definitely think that? >> that's what all the republicans i talk to say. we'll see what happens. they think flake in the end may come around. they think johnson, in the end, will come around. neil: i think johnson will come around. >> yeah. there's lankford, there's collins -- neil: in other words, it is not a slam dunk. >> there's six or seven if you add it up. that could go against it, i mean, do the math, right? this is -- >> no, no, this is, you could get there. i think it's 50/50. it's right on the border, and you don't know where -- neil: you always hear the argument republicans can't do that because they must know that

by doing this they give up their majority. >> here's the one thing i think the intangible here, it's president trump as, you know, as an entity. i mean, you know, he's so, he's politicized this in a way. excuse me, personalized this in a way. not politicized it, personalized this in a way -- neil: right. the flake comment. >> stuff about bob corker, mccain, you can go down the list. that you can just see -- neil: how would they explain a no? >> stick it to them. the deficit. >> you could make up an excuse like trump, essentially, is making up excuses for trying to kill this at&t deal, you know, on antitrust grounds. you could almost do the same thing by saying they're blowing out the deficit -- neil: it'll actually come back to their personal contempt. >> i believe. >> no, i also think there's a political question. it's all political rather than

economic now for next year in terms of if they do pass it. if they do pass it, there could be a political price to pay there as well because state and local deductions are not popular. if you're passing a tax bill that raises taxes say, on conceively you could see 10% of republican constituents have to pay higher taxes -- >> that could be a problem. >> if you have to pay higher individual taxes, do you pay as big a political price as if you don't pass a bill at all? neil: underappreciated here is the fact that it's gone that pass. you get it and people start seeing their tax cut isn't as big as they thought it would be, or in the case of a lot of these high-tax states they're a paying more, it could boomerang. >> peter king is against it for a reason. neil: in long island? >> he knows it could be a problem going forward in his -- >> there aren't any republican senators in those areas. neil: right.

>> but it could really hurt in the house. >> in the house, right. >> and the other thing is this, i don't think the horse trading's over yet. collins came out with an interesting -- neil: i agree. she had an interesting idea. maybe don't make it 20%, 22%, use that difference to reinstate the, you know, the deduction for state and local taxes. not a crazy idea. >> i'm against the state and local tax deduction in theory, and i'll tell you why. you're just telling people, you're just telling governor cuomo and governor brown in california -- neil: and governor-elect murphy in new jersey who could be rethinking the millionaires' tax. >> so suddenly -- >> well, you're literally telling them keep your taxes high and everything else. but here's the flipside of that argument. the republicans did not do real tax reform here, so they didn't take down the rates. >> right. >> they're actually really screwing people in those upper brackets -- neil: but the corporate cut is enough and substantive and substantial enough to be of

consequence. >> i think for the markets, yes. neil: for the markets. >> we'd have to see the economy. listen, let's be real clear here -- neil: i get the feeling the individual stuff is an a afterthought. >> it does seem that way. >> well, be you're using the individual to pay for the corporate, you're raising taxes to cut taxes, what does that mean for the economy? it could with be a wash. but i think, listen, the bottom line is this, the markets themselves are fixated on the corporate tax cut. totally fixated, as they should be, because it goes right to the corporations' bottom line. that doesn't mean they're going to start hiring people left and right. they'll probably do a lot of stock buybacks, but net-net -- neil: they're free to do that, right? but if corporations don't hire a lot of people or, actually, you could make an argument they buy out competitors and more people lose their job, then that puts republicans in a tough spot, doesn't it? we pushed for these guys giving them a break -- >> and we raised taxes on everybody else. >> takes a while for all that stuff to work out whereas on the

individual side you see that right away and vote right away. >> i just think republicans are playing with fire. for a party that was always based on giving more people of the money they earn -- neil: they were locked into this stupid reconciliation. >> they're crazy. they should just, like, ignore -- >> but, neil, it is -- they didn't have a choice with the $1.5 trillion over ten years, that was the only process they could get. they weren't going to get 60 votes. neil: what happens if they don't get that vote in the senate? what happens with the president and his relationship with the hillsome. >> a lot of people talk about they shelf the personal stuff and just focus on the corporate stuff. neil: in other words, they revisit this with just the corporate -- >> you could make an argument that might have been the way to go from the get go. >> larry kudlow had -- neil: the original obama plan with boehner, you know. >> yeah. and cuddler and laffer -- kudlow and laffer did propose that. they were saying go to corporate taxes and just worry about the

personal stuff later. neil: well, viewers are offended, including drumstick. >> whatever happened to the second turkey, we don't know? neil: we don't know, but drumstick is annoyed with the comments you were making about his rear. do you think this pardon makes me look fat? [laughter] >> tell drumstick thank god that barron was there and not don jr. and eric -- [laughter] or else -- >> you would have seen an explosion -- neil: there we go. [laughter] well, that's why that drumstick interview is not happening. drumstick heard what charlie said and said, that's it! we'll have more after this. >> we will? [laughter]

neil: you know, harvard or is facing a justice department probe over its affirmative action policies. gerri willis has more on all of that. >> reporter: hey, neil, that's right. the justice department investigating whether harvard is violating title vi of the 1964 civil rights act in their admissions practices and has accused the university of

failing to cooperate with a do to j probe. the roots of this case go back three year toss a lawsuit filed by a nonprofit called students for fair admissions. the group maintains that the ivy league school intentionally discriminated against asian-americans, limiting the numbers admitted. doj upping the pressure on harvard to provide documents related to its university admissions practices, instituting a new deadline of december 1st for turning over documents. now, according to the organization's president, edward bloom -- also a conservative activist finish the proportion of asians admitted to harvard is lagging the proportion of asian-americans in the broader population. the issue is one that the u.s. supreme court has wrestled with for decades. as recently as last year, the court upheld the use of racial preferences in public university admissions in order to obtain a diverse student body. and academic research shows that there are all kinds of admission bonuses for athletes, children of alumni that make it more likely that they're admitted.

harvard has in the past described its admissions process as consistent with supreme court decisions. neil? neil: all right. gerri, thank you very much. i want to go to blake burman at the white house, and that response we're getting from the president and his staff about a federal judge permanently block president trump's sanctuary city executive order. blake, what are you hearing? >> reporter: neil, it's really two of the top, the president's top priorities as it relates the immigration, what to do with sanctuary cities and, secondly, who is allow add mitt dance into the united states which is really being stymied by the federal courts. it was last night a federal judge who ruled that the president's executive order which tries to curtail funding from sanctuary cities is an overreach of the executive branch. that judge essentially saying the president can't have a say over congressional spending once it's already decided. however, the white house is arguing that the president is doing his job to keep the country safe. here's what a white house spokesman, ohio began giddley

said: the flawed district court ruling undercuts the president's efforts to keep the american people safe and secure by enforcing existing law. he goes on to say we are confident the courts will ultimately uphold the president's lawful and necessary authority. that will continue to move through the courts, neil. so, too, is the president's travel ban. you'll remember the president in september released his third iteration, that has been going through the court system as well within the last few weeks, and now the trump administration has asked the supreme court to get involved. likely it will take that case up along with, potentially, this sanctuary cities ruling as well. neil? neil: all right, blake, thank you very, very much. in the meantime, as we keep our eye on the progress of that tax cut in the united states, a big question as to incentives built into it to get $1.9 trillion held by just technology companies abroad back into the united states. that is the overwhelming chunk of the $3 trillion or so held abroad. so what would it take to get

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rose after this improper conduct with female workers on his staff. now, pbs has added the coup de grace, of course, he had a syndicated show on pbs as well. they, too, have fired him over these allegations by staffers. meanwhile, offshore cash, certainly a lot of it out there right now. in fact, a significant amount if you just follow the technology community. it's about $1.9 trillion of the up to $3 trillion we think is held abroad. deirdre bolton on how that gets to be back home. >> reporter: that's right. neil. moody's published system research today that show that is the top five tech companies have this cash overseas, and with current tax law it makes sense for these companies to leave cash abroad because they would otherwise get taxed again on bringing the money back to the u.s. here are the five companies that moody's featured in its report; apple, microsoft, google's parent alphabet, cisco and oracle.

together these five companies have a collective corporate cash stockpile of $1.9 trillion. so, neil, you mentioned that number. what's worth noting as well is that this is a 3% increase from what they had last year. moody's also saying, look, these companies are likely to leave that money, a lot of it, offshore even next year. as we know, republican house lawmakers, they're trying to encourage companies to bring this money back to the u.s., not feel punished if they do. so if the house version of tax reform passes, there would be a one-time tax rate of 12% for repatriation versus the current level of 35%. now, if the legislation passes, apple -- we have to just pick this one -- the one that stands to gain the most, because apple has more than $250 billion in cash just sitting overseas. and under the house plan, apple could bring that money back to the u.s. and pay 12%, again, versus 35%. now, if legislation passes, some

wondering if apple would turn that cash pile into acquisitions, return it to shareholders, a measure of both. investors, of course, of all stripes appreciate stock buybacks, appreciate dividends. you and i were speaking about what a mess it was for investors that ge cut its dividend for the first time in its corporate history, 125 years. neil: right. >> reporter: so if the money comes back, at least some of it could go back to shareholders. neil. neil: deirdre bolton. i want to go to a sports publisher, rich, if the companies just plow it back into their stock, hike their dividend or if they don't have a dividend, start offering a dividend, the cynical view would be, obvious, they can do what they want, it's their money. but the understanding with republicans seemed to be with a wink and a nod we're doing this for you, will you please, please, please, pour this back into expanding your operations, hiring more folks so we don't look like, you know, we're doing your exclusive bidding? how is that going to go?

>> well, it wouldn't be the worst thing in the world if the companies did buy back their stocks -- neil: right, right. >> apple plays a big role in a lot of pension funds and a lot of 401(k)s. so it wouldn't just go to the rich, it would go to a lot of people. in 2004 when we had tax repatriation, 80% of the money went into buybacks. but because stocks are so high right now, i think it'd be more like 50 percent. so i think there's a good opportunity for republicans to say, look, this is a quid pro quo here. you've got to invest in the united states and sign up for a certain number of jobs. if you really want to play hardball about it, you know, attach a clawback to it. say that if you don't add this many jobs, we're going to claw back the money that we gave you in tax breaks. neil: now, i don't believe that's in any of the legislative ideas right now. i might be wrong. and to your point, i know those kind of things can be added later. but would it be deemed a disappointment? i certainly see what you're saying, if they plow this back into their stock, a hot of those

people even not directly involved in the market through pension funds and 401(k)s and the like, they would benefit. but those who seek jobs presumably would not. and i'm wondering how that would hit them in the midterms if democrats come back and say, see, we told you these guys would just play the markets and play all you guys for fools? >> well, if the markets went down and the jobs didn't materialize -- neil: yeah, that would be double jeopardy right there. >> that would be jowl jeopardy. but i think, again, stocks are more broadly held. people just don't think about it because of pension funds and 401(k)s. you get this broad prosperity, and you think about the 2018 elections, you tend to have a lower voter turnout. and the ones that turn out tend to be the ones that are employed and have 401(k)s. neil: so you could always get anger, and sometimes when we have shifts in one or both house, it's when voters are angry. you're right, we'll see what happens. is it your sense now that we

will get, you know, tax reform, more to the point tax cuts passed in the senate? we were talking earlier here people have their doubts that it's going to be tough, tough sledding in the senate right now. >> yeah. well, it's a thin, you know, 52-seat majority. neil: right. >> isn't much to work with here, and all you need is a couple of ron johnsons or susan collins or people like that. i think johnson will come around, but, you know, collins may hold out on health care stuff. so we'll see. you know, i think the republicans need a win here, or they're going to be going into 2018 with a little shakier position. neil: yeah. how would the markets react if this fell through? >> oh, i any, you know, i think we'd see a pause in the market. i wouldn't be surprised if we saw a 10% pullback. i do think that the economy is in really good shape here -- neil: yeah. >> -- and it's got momentum. so i think there's a pullback.

i don't see a dramatic pullback but, you know, it could cough up 10% in a heartbeat. neil: all right. we will watch very closely. "forbes" publisher rich karlgaard, thank you. >> good seeing you, neil. neil: remember yesterday when the justice department said it was going to oppose at&t's planned merger with time warner? i think the at&t boss just came back and said, bring it on, brother! ♪ ♪ nsurance. liberty did what? yeah, they saved us a ton, which gave us a little wiggle room in our budget. wish our insurance did that. then we could get a real babysitter instead of your brother. hey, welcome back. this guy... right? yes. ellen. that's my robe. you could save seven hundred eighty two dollars when liberty stands with you. liberty mutual insurance.

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to help you keep rolling with confidence. go long™. ♪ ♪ ♪ >> this defies logic, and it is unprecedented. i've done a lot of deals in my career, but i've never done one where we have disagreed with the department of justice so much on even the most basic of facts. neil: all right. that was at&t boss randall stephenson saying even though the justice department is opposing his proposed acquisition of time warner, that acquisition is still on, and he will go to the courts to force the issue. will it come to that? let's ask former verizon ceo denny steigel. >> i think the burden is with the department of justice on this, and i think it'll be a tough case to prove in court. they're talking about stifling innovation, raising prices, eliminating competition.

that's all -- neil: this is all a vertical merger, right? >> it's a vertical merger, it's not horizontal. these are not competing companies, and there is no reason at least in my mind why this shouldn't be allowed. comcast/nbc universal was allowed a few years ago, i guess 2011. there was a side agreement with the department of justice that they would behave in certain ways. and, by the way, if that's in the what's happening and if they're not behaving that way, justice has all kinds of alternatives -- neil: well, isn't that the rap on that merger, that they aren't behaving that way? >> well, i have read various things that says they aren't, but justice should hold their feet to the fire on this, and they can do the same with at&t with some kind of behavioral side agreement. neil: how much of this is coming from the president, do you suspect? not a fan of cnn. but my cynical view on that whether you argue he wanted to interfere or not which would be very obvious be that were the

case, it's not as if cnn isn't going to find plenty of interested bidders. it's not as if you would be killing off cnn if you had to detach it from this thing, right? >> he's the downside of at&t's having to sell cnn, it would be sold at a fire sale price. this happens all the time -- neil: really? >> when divestiture is ordered, it usually goes at much less what the true value is. and that probably is one of things at&t would be afraid of. neil: because they could always entertain selling that off once the merger's complete just for its own benefit -- >> of course. they can always do that, of course. neil: just like ge de-wed itself of a a lot of broadcast companies before the formal -- >> exactly. one of the things that conces me very much about justice's action here is we have google and we have facebook which are huge, huge companies. neil: right. >> and we have at&t who would

like to compete with these two companies through this acquisition. why wouldn't we let them do that? neil: we're always caught -- like, i was showing my age with this young crew. i remember netscape. it was the threat to the world. it was going to be the internet behemoth, you couldn't even let it entertain buying other properties or just being a stand-alone entity in europe. and now i talk to kids, and they're like, net who? at time, they were the monster just like there was a time when ibm was the behemoth before microsoft, and microsoft was before, well, apple and everybody else. my point is -- >> that's exactly right. neil: -- be careful what you worry about, because there are greater worries down the road, right? >> oh, i think that's precisely right, neil. the issue that we have with this at&t deal is from at&t's point of view if it does end up going to a lawsuit, at&t is threatened by loss of employees at time warner, by loss of revenues, by

loss of customers. the longest this goes out, the more the business itself may atrophy. neil: it's been a year. >> so that's a concern for at&t. so randall stephenson and team, they want to get this thing done as quigley as they can. justice -- as quickly as they can. justice wants this off their plate and move on. justice said they would be willing to talk about settlement. i think that, clearly, that should happen. neil: do you think the deal, in the end, goes through? >> i think the deal, in the end, goes through. in my mind, neil, i think there's very little doubt. neil: yeah, i think you're right. the tax battle back and forth, a lot of people are wondering what corporations do be they get their tax cut, the big one from 35 to 20, and that democrats are warning they better not just plow it back into their stock or raise dividends. they're free to do with their money what they want to do, i understand that, but do you think that would be a problem for republicans if all they do is plow -- >> i think if that's all they

do, it would be a problem for republicans, but i don't think that's what they will do. i think there are plenty of places that companies can invest. capital expenditures, i think they have been stifled over the last several years. there are companies that want to spend. i don't think there's any doubt about that. neil: but they could initially start spending on buying out competitors, right? so you could conceivably, short term, be having people losing jobs, right? >> it's possible, neil. it's possible. and in any large acquisition, there always will be some downsizing. neil: yeah. >> but, you know, because of the savings that are involved in consolidating staffs. but i don't see that as the biggest threat that comes out of decreasing tax rates. i think it makes american companies much more competitive worldwide, and i think it also help with capital investment, i think largely. neil: do you think the president, by going after a senator, by going after a ucla

player's father, gets distracted on the message and it hurts his chances of focusing on this? >> i, i wish he wouldn't have done that. i don't think it makes any difference, the way the individual's father feels. yeah, it is a bit distracting. if not necessarily for the president, i think it causes others who see him do that to be distracted or to be disappointed by it. neil: if he loses on, republicans lose on this, then what? >> i don't think they'll lose on this. neil: really? >> i don't. [laughter] i honestly don't think they'll lose on this. this is something that i think many on both sides of the aisle understand whether they vote for it or not understand that this needs to be done. if not now, if not just after thanksgiving, soon. neil: yeah. they know what's at stake. certainly, republicans do. we'll watch what happens. denny strigl, have a wonderful thanksgiving. >> thank you. you too, neil.

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♪ neil: all right, just want to let you know, we're couple hours away from having that man, steve sweeney, new jersey senate president, big democrat, working with governor-elect phil murphy.

they want to raise the top rate what they call millionaires. there is just one problem. the effort on part of republicans to get rid of reduction for state and local taxes. now sweeney is saying we might have to rethink that. my special guest looking at fallout what is happening in washington and jersey. trish regan. trish: thank you so much, neil. treasury department announcing new economic sanctions against north korea and companies doing business with the rogue nation, all this a day after the president declared north korea a state sponsor of terror. i'm trick reagan. welcome, everyone, to "the intelligence report." we have an update to tell you about a story we've been following about the on "the intelligence report." highly questionable russian uranium deal. new reports that the fbi informant warned the justice department how russia was scheming to gain control of our uranium supply. yet this deal still went through? how does the deal