tooth cleaning with beto o'rourke. we don't need this, we don't want it, we understand your numbers are going down, this is not going to help. connell: tmi. that does do it for us our time is up we will see you tomorrow bulls & bears starts right now. president trump: tremendous problems are caused at the southern border from drugs to the wrong people being allowed to come in because of a corrupt and broken system that could be changed in 20 minutes. liz: president trump set to deliver a major announcement on a sweeping new overhaul of the immigration system we're just getting the details of the plan that he will be unveiling tomorrow. we've got a live report from the white house, coming up. this is bulls & bears i'm gary kaltbaum in for dave david asman , joining me is steve forbes, liz claman, gary b. smith and let's go straight to

the white house with hillary vaughn, what will the president be announcing tomorrow? reporter: well this immigration makeover is meant to bring everyone in the republican party on board and this is focusing on a merit-based immigration system that would judge people based on points. they would look at applicant's age, their english proficiency, employment, educational background that's just a baseline figure here. applicants can be boosted based on how much money the job will pay and also applicants go under a health screening, a criminal background check and the white house wants to raise the number of immigrants college educated from what is 40% now to 71% over 10 years the white house says this plan will raise gdp by 600 billion, but that's not the only play on the table here. senator lindsey graham on capitol hill today rolling out his own plan that he says will fix the humanitarian crisis at the southern border, people will not be able to claim asylum any more at the border under his

plan, but instead, will go to the u.s. consolate in their home country. graham says that his plan is better than the presidents because his is built to be passed as law. >> the white house's plan is not designed for laws. this is designed for laws. the white house plan is trying to unite the republican party around border security and i'm trying to get some relief to our border patrol agents and trying to get some of the smuggling business. reporter: graham also brought up the number of immigration judges to 500 and he also would up the amount of time families can be detained at the border from 20 days to 100 days. back to you guys. >> thank you, hillary let's bring in lou dobbs, host of lou dobbs tonight on fox business. the plan? what do you think, and any chance of passing?

lou: well first the plans to have lindsey graham competing with the president of the united states on an immigration plan because he obviously needs to do just thought, i found that astounding, because any plan that comes from the white house or the senate floor is going to need a miracle to get through that democratic congress, particularly without amnesty. it's almost a non-starter, but i have to say for the white house, their hearts are in the right place. they're talking about a merit- based plan instead of lotteries, and chain migration. that's an important step forward , but there are a lot more steps to be taken. we'll learn more obviously tomorrow when the president speaks. >> i think that it's a good start but i think what the president is proposing is really post-2020 when he gets re-elected when he has a republican congress he can say this is the mandate. now we can get it done. what graham is proposing i don't see him as contradictory but as

complementary. one is dealing with the humanitarian crisis one is dealing with an immigration system for the next generation, and what graham's plan does though is put the democrats on the spot. we have a visible problem on the border. what are we going to do about it they say nothing he says we've got to do something. liz: this is two-sided i think. he's got the border security but then on top of everything else you're looking at the plan the president will put fourth and it's merit-based you either inherit it or merit it, you heard that when france was going through with elections but the merit-based would be education, do you have a bachelor's degree for example, and your ability to speak english. i see some fundamental problems with this. i do have to say, my grand father came to north america from russia. he spoke six languages not one was english. he would have been banned yet he had three sons who became world renouned surgeons. we have to be very careful when it comes to these plans where a government checklist is put forth. since when does a government put

everything perfect together? >> sorry, my voice, we do have the visa program which has lagged and has had real problems and that brought in people into this country and i think the president could do a good job by saying look, we could make better use of our university visa system, expand that, that has drawn huge talent into this country and all gotten sort of muddied in the mix with the southern border and problems of asylum and these should be treated separately and addressed separately. >> one of the things the president talked about in the past is the fact that we graduate especially our graduate schools and stems a lot of very capable people considering all of those resources training and then we kick them out like a baseball team kicking out your talent. keep them here if they want to be here. we could use it. >> allows en some of the immigration system and tighten others, it's not all, you know, each solution is not going to work for each of these issues. lou: fundamental to any solution though there is the requirement

that we secure that border. it is not even close to secure. right now we're looking at record numbers of apprehensions at the border that means there are record numbers of people coming into this country illegally as many as 4 million in prospect for this year. this is great, to talk about immigration reform and this is a great beginning but the reality is, it has to begin with a secure border because if you can't control the border you can't control immigration, period. >> gary b., go ahead. >> well i want to get back to a point liz made and i agree with her 100% but for a slightly different reason. we need people with college education coming in here, but if you rank the top 15 fastest growing employment needs for the next 10 or 15 years, half of them don't require college education at all. we're talking healthcare, people that help at home, healthcare.

we're talking janitors, we're talking foodservice, jobs that can not be replaced by robots, only require at best a high school education. it's those people you see at the landscape workers, those are actually the people we need that the jobs are not being taken by americans so i'm with liz 100%. if we put a limit on, well we only take the a students i'm sorry. we need a lot of the c students if you will. >> gary: but i think you all agree something has to be done. we've watched 10, 15, 20 years of nothing getting donald at least maybe this is going to be a start but i've got to figure this is a campaign platform at this point in time, because we're already hearing democrats coming out using the word skeptical what do you all think? liz: well 69% of americans don't have a bachelor degree and if you're looking at some of the parameters that the trump adminitration might put forth, it involves having a college

degree. this could be right with all kinds of fraud, you know, the people come in with some fake or online degree out of hungary and you've got to be really careful. >> we've got to be careful too at the universities. do we really want more people from harvard? >> gary: that's another story. >> what's the harvard of mexico , that's my question. >> hopefully there isn't one there. lou: the other real question is what is the responsibility of the employer here that creates sensitivity to real needs for jobs if the employer has responsibility for that immigrant coming into this country, that is absent right now, corporations are benefiting with private profits on public expense to take care of illegal immigrants in this country. >> look, you do have to make sure that immigration reform is in the framework of there's security of our borders, but there's a tradition of openness to the world, and those have

gotten very blurred in our political context. the more you're saying look we want to educate people with amazing universities, we want to provide a viable economy for them to be participants in if they choose to be american citizens and that's vital to make sure we do not lose them. >> gary: real quickly on the lindsey graham proposal the incentives to come in with just too good to come in also so that's a good start don't you think? lou: i think it's actually a return to the old immigration system, in large measure, it had certain attractions. the reality is comprehensive immigration reform is going to be, it remains a pipe dream. this, to take steps that are necessary to right what is wrong right now, with our borders, is the most critical thing and secondly then to begin to do grades of improvement in the immigration system. this whole, you know, this is typical washington. instead of deal with the issue in front of you, a crisis at the

border, the president declared a national emergency and we have his own white house coming up with comprehensive immigration reform of a form. what we need is to deal with border security straightforward. liz: gary b., going back to this checklist, and this is where i find things problematic, a government checklist does not underscore grit, or survival. >> exactly. liz: these are the actual reflections of the american dream, when you talk about a lot of the most successful people they didn't go to fancy schools but they had that grit and how can that show up? >> that gets to something else. >> well you know the other thing that's important liz is you look at a lot of the success fell people now that still don't have college degrees like bill gates maybe has honorary degrees across the country but you talked about the immigrants first started coming into ellis island, hardly anyone was educated and you're right. they had grit. they built the society of we start placing government

parameters on this, i think we lose a lot of what we need here and most of these immigrants are coming through wanting to work and they want to work hard and they contribute through taxes and things like that, sales taxes, and whatever. a lot more than they take out of the system. that's the important, i think, i agree that we need to get immigration but let's not be so restrictive about it. >> gary: well this will be the biggest story of the next couple of years. want to thank you, lou for being on you'll be covering this tonight i'm sure in a very big way. and we thank you again for being here. lou: thank you. >> gary: appreciate it. a historic shortage of americans , people aren't having as many babies. how concerned should we be and what does this mean to our economy and the workforce? up next on bulls & bears. it's tough to quit smoking

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liz: alert, the number of babies born in america last year falling to a 32-year low, yes, about 3.79 million babies were born in 2018 that's a 2% drop from a year ago so with the rate now slipping four years in a row what impact does this fertility

slump have on our future workplace and overall economy? gary b., to you first. >> well, liz, it's not good. you know this has been studied actually, the national bureau of economic research has shown that low fertility rates are directly correlated to low economic growth. look no further than europe and japan in particular. you know, liz, let's just say that the baseline is about two children per woman is kind of the replacement rate, if you will. before japan started dropping below that in 1975, prior to that their gdp growth was averaging about 6% to 8% per year. since then it has declined almost consecutively all the way down to its barely 1% a year, the same as in europe. that's why getting back to our first segment, we need more immigrants, not less. we keep going this rate, we're

going to go exactly the way europe and japan has done, with gdp growth. >> gary: it's pretty simple people make the economy, the less people the less potential of the economy, as simple as that and gary is right when he brings up japan. japan has head straight downhill since 1975 and their markets have headed straight down since the 80s and something that has to be addressed and this as you said gary brings in the immigration part there. we're going to need a lot more people as we move forward if these numbers continue. >> just japan and europe everywhere in the world it's brazil, it's mexico believe it or not, it depends where you are , in terms of class. i don't think there's anything that's going to be done about this. the more affluent a society is to become, the more educated women become, the fewer children they have. it is true gdp growth will go down statistically but if you have a productive economy, fewer

people, the same amount of money is still more prosperous. we're not used to looking at these things this way but the reality is if you're producing enough the same for fewer people you are in fact doing somewhat better because it's less, so i don't think this is all a mitigated disaster and it is also an inevitibility and it's happening not just in europe. >> the one giant exception at least short-term on fertility is china which had that horrible one-child policy still grew at 8 -10% a year. what really needs one reason you don't have the low birth rate is people don't have faith in the future. it's a spiritual crisis we're not supposed to discuss that here but it does reflect pessimism and i think that's going to change if we make changes and get this economy going and people feeling there's a real good future again. liz: well as the one person here in this conversation that actually has to have the baby, let me just tell you, if you get equal pay and you get women more financially stable, they feel

better about being able to take care of children. i am just telling you that anybody whose educated and is thinking about these things, you don't sit there and say oh, let me just have a baby. you think how am i going to afford this, pay for that, what about formula? it's so expensive and it does come down to economics. >> but i will say the more educated women are throughout scandanavia even with huge healthcare, women do not tend to want to have more than two to three children, once they have achieved a certain education. >> i wonder where all of the crisis talk plays into this. we are hearing about everything is a crisis, the world will end, everything is a problem and you read all the time about people saying that i'm just not going to have kids because of this. >> well that's that pessimism. liz: quickly gary b. >> one more problem we haven't talked about though the social security system has almost since the inception relied on more people coming in and paying for the system than taking out. we flipped that scale the other

way and we're already starting to do that with more retirees and people paying into the system and now you have another problem, social security is already in trouble. now you have less funds coming in that are being taken out. we have another financial problem on our hands. >> oh, joy. liz: i did my part i have two great kids thank you, ladies and gentlemen. >> we had five, so -- liz: that's right i came from five. so heating up with china, well the fight with our north american neighbors could be coming to an end, yes, the latest from capitol hill, in this soap opera, it's next. ♪ limu emu & doug what do all these people have in common, limu? [ paper rustling ] exactly, nothing. they're completely different people, that's why they need customized car insurance from liberty mutual. they'll only pay for what they need! [ gargling ] [ coins hitting the desk ] yes, and they could save a ton.

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>> gary: one tariff battle heating up while another could be coming to an end. edward lawrence has the latest diplomat tails from capitol hill >> reporter: yeah the trade front moved to capitol hill treasury secretary steve in mnuchin grilled by lawmakers during a senate appropriations committee hearing subcommittee

hearing and after that, he says that he is going to china for the next round of trade talks, but nothing has been scheduled yet, just listen to the secretary's comments about when i asked him if he's confident that there will be a deal. listen. >> do you feel confident for china agreement? do you feel confident? >> i'm hopeful. i wouldn't say i'm confident. reporter: and there he said it, he wouldn't say he's confident but he's hopeful on a deal. now we have about $250 billion of items coming into the united states at 25% from china. the rest of it could be under a 25% tariff, starting on june 17 or at least after june 17. that's the public hearing so the list of items that everything else that's imported into the united states, when the reports finished and after that date, it all could be sent under a 25% tariff. now the other big news here pushed by the administration, not china, but the u.s. mca. steel and aluminum tariffs are a

sticking point with passing and ratifying the u.s. mca. >> i didn't say we were lifting tariffs. what i said was we were trying to resolve the tariff issues as part of an agreement with u.s. m ca, and that's something we're focused on. reporter: many republican lawmakers are saying if there's steel and aluminum tariffs are not removed off canada and mexico they will have trouble voting for ratification of u.s. mca. canada's top negotiator said canada won't ratify this unless those tariffs are lifted here. the u.s. trade representative office is working on that right now trying to work out a deal with mexico and canada to lift those tariffs back to you guys. liz: edward, the steel and aluminum tariffs are now 15 months old. i'm not sure the administration, maybe the president but the administration ever expected these would go on for that long, but these opponents these adversaries although i hesitate to call our neighbors to the north and south adversaries

they're a lot tougher when it comes to certain demands and i'm just not sure the administration expected that. how did we go from writing invitations for a china deal to suddenly shootout at the okay coralle? >> it has multiplied, we're doing trade disputes on every front and from the president's standpoint the tariffs on steel and alexandria cortez are working. there's nor investments, plants are reopening here in the united states so he's seeing that manufacturing sector growing as these 15 months have gone on. now canada and mexico very upset obviously. they worked out a free-trade agreement the u.s. mca, and they believe from their standpoint these tariffs should not be in effect on them but again the administration standpoint is looking at this saying this is working. incidentally the only country not paying those steel and aluminum tariffs is south korea. they did work out a deal with quotas for the steel and aluminum coming into these

countries. >> so do we have a situation here, of another big thing over hang is autos and auto parts that's been removed for six months. what is the outlook on that, because if these tariffs come on autos and auto parts and we still have a tiff with mexico and canada and we don't resolve china we're going to have a depressed economy. taxes are a burden. do they realize that or are they really thinking tariffs make the economy buoyant? >> i think that's the reason they're holding off on these tariffs. the president looked at all of this hoping he would have a china deal by now. it looked like they were headed that direction until a couple weeks ago when the chinese backed off everything. the u.s. mca needs to get ratified but tariffs on auto imports is something the president wants to have in his back pocket to nudge the european union. the issue with that is the european union refuses to negotiate over agriculture and the president says agriculture must be in a deal in order to get them to the table he's using

these tariffs, so i think he's pushing those tariffs down the road. we may still see them at some point in the future if the european union doesn't move off their position. >> and we have agriculture except for new zealand every country in the world has agriculture protection and subsidiaries of one sort or another. the europeans aren't going to back off on that. they don't want any more riots than they already have. >> and edward -- reporter: and wine is included in agriculture and france is very against that. >> so the white house came up with its list of $300 billion more of chinese goods. what's the timetable there are they really determined or is this just a negotiating posture ahead of the g20 trying to put a little more pressure but really doesn't want to go ahead with that? >> well you hit on something there look at the timing this is setting up. june 17 is the public hearing for the list of everything else that the u.s. could possibly place on tariffs. now once that's donald the final report is done, then the tariffs

could be imposed so now if you look at the timing of that june 17 is the week before the g 20 summit so theoretically the president could have that in his back pocket as he's meeting with president xi to talk about those tariffs, so clearly, that is poo put everything that china has imported into the united states. >> is there any discussion behind the scenes of how they try to come up with a deal where china can save face and not feel they were brow beaten into an agreement which if they feel that they won't do it? reporter: and that's the problem you have the hard liners within china, xi-jinping has to look strong within china and try and save face as you say there so both sides backed into a corner. i'm not hearing about any back door negotiations or back door channels. these are direct channels face to face they are doing negotiations and i see both sides backing themselves into a corner in this. the chinese absolutely cannot lose face in this, but this is

hurting their economy worse than it's hurting ours so far, so i'll have to see what happens. >> gary b.? >> edward just a quick question i wonder if there's any economists in the house or the senate, because you know, we're talking on friday on this very show, with peter and we both agreed that the economic impact on at least our economy of $17 trillion while the headlines get big press, the economic impact still on all these tariff s is almost zero. are there any people that you talked to that said oh, yeah, i'll get involved but it's really not that big of an impact or is everyone just flocking to this because it's getting big headlines? reporter: well there is a little bit of an economic impact on this, i'm hearing from the federal reserve actually specifically in the people that they talk with saying that companies are sort of waiting and seeing in capital investment s where they need to do things. you could see supply chain shift based on these tariffs so it's a

huge investment that companies may have to make for a long term supply chains manufacturing may move out of china into vietnam. those will be winners here, in this if the supply chains move and that could be a long term effect on the chinese market, so this is having an impact somewhat and it might be muted within the united states, but it is having an impact economically >> and it certainly has an impact on profit margins too. >> edward lawrence thank you for your great reporting on the subject we're learning a lot, thank you, sir. >> thank you. >> well disney, abigail disney on capitol hill today slamming corporate pay, inequality of disney and other big corporation s. does she have a point? the debates up next, on bulls and bears. as a financial advisor, i tell my clients not to worry about changing their minds in retirement. you may have always imagined your dream car as something fast.

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liz: abigail disney, the granddaughter of yes that disney

, walt disney company, co- founder roy disney slamming corporate pay gaps including the one between bob iger, the ceo of disney and average workers, this in a capitol hill hearing went so far as to capitol hill telling congressional congress that companies must change the way they "practice capitalism" and here is what she suggests could be done right now. >> disney could tomorrow raise the salaries of all of its workers to a living wage and nothing about doing so would constrain any capital market anywhere. disney could take half of this year's enormous bonuses and put them into a dedicated trust fund that would help with employee's emergencies. it could already stock options to all employees and not just to people at the top. liz: i spoke to mark cuban, the billionaire investor last week about his thoughts on income and equality and here is what yes, that billionaire told me.

>> as someone whose wealthy and someone who was looking to benefit the company, every capitalist has got to do the same thing. we have to say look if we at the top make a little bit less and we help those at the bottom more , capitalism gets stronger and it's not socialism, it's stronger and smarter and more better capitalism. liz: joining us now, from the heritage foundation, so steve, abigail disney started talking about this a couple weeks ago and it has snowballed and now she's on congress, what do you make of her message? do you see value in some of it, all of it or none of it? >> first of all she's missing the big story because of the tax cut, the deregulations, i'm here at the white house just met with the president he was touting this booming economy. you've got for the first time according to the wall street journal a few weeks ago the biggest wage increases have been for the lowest income people, so we are reducing income and equality through free market capitalism, and through the tax cuts, more investment by

businesses a tight labor market is the best thing you can do for working class americans, because we all want americans to climb the economic ladder and be successful. the other thing i would say is look as an investor myself and i wonder what my friend steve forbes thinks about this i don't mind paying executives a lot of money of major companies if they're making profits for the company and hiring workers and if they are making that company successful. what i don't like is when these ceo's and executives get massive benefits and golden parachutes when they drive the companies into the ground. that's where i have problems. >> that's one thing they also don't talk about putting caps on pay for actors and somehow they escape the scrutiny and with ceo 's to get the talent you have to pay for the talent and it's up to shareholders and institutional investors if they

think they are being over paid and the real thing about the economy is not capitalism, which is very flexible. it's government policy mistakes, like excessive regulation on stable money, excessive taxation , a tax code. >> massive spending. >> $400 billion a year that's the problem. liz: there's also another problem and i would simply say that nobody says take away bob iger's money. he's done an incredible job. >> exactly. liz: but these ceo's some of them are actually incentivized to drive their worker's pay down i think more of that becomes an issue. >> in an economy where we have 7 million job openings, 6 million unemployed, wages going up, those underpaid are going to lose their people and in terms of stock options and the like companies are going to do more and more and starbucks has been giving stock options to even part time workers from the get go. that's the thing about capital

ism. companies can respond. liz: let's let zach in. how do you explain the gap from 1950 where ceo's 30 times to 400 times per day? >> because the need for talent to run these large entities you pay more than ever before. it's like sports you want to get the talent you pay for it and in terms of workers what's holding back worker's pay, cash wages is a huge cost of the companies now pay for health insurance, 15 to $20,000 per employee, health markets are not free market and rising payroll taxes so when i started working it's 3% now it's 15.3% that is what's a crushing wage earner and you start getting real tax reform, you start getting free markets in healthcare and cash wages will start to really rise again as they did before these barriers, non-market barriers came in the way. >> let me just say one thing. >> the abigail disneys and the

mark cubans, i'm sorry to say, need to learn a lesson from baseball, and in baseball they have a metric called wins above replacement value. it values how much per the salary that athlete is worth so somebody like a bryce harper going to philadelphia is well worth his contract if he's going to deliver the wins. in economic terms what was the value of an andrew carnegie or john rockefeller or bill gates? it wasn't the millions they got paid in salary and options. their worth is probably trillion s for the economy so mark cuban thinks well, you know , if i make a little less, i'll spend it on things. that's not how it works. bill gate's biggest accomplishment was not this charitable foundation he's putting together with his wife. it was all the jobs he created through microsoft and the jobs those people created through

subsidiary companies. some of these people are worth a lot more than they make. liz: go ahead, steve. >> well a couple things what's her name, abigail, what's her full name? >> disney. >> yeah, abigail disney, what has she ever done for people? her grandfather created incredible wealth and he deserves what he got. i mean, i just get tired of people who haven't actually produced things, criticizing people who do produce things and by the way steve forbes, you're spot-on correct. we have created this very very tight labor market you're right there's like 7.3 million more jobs that can be filled right now and what that has created is this wonderfully tight labor market and you're exactly right. now workers even if they are just starting, they just seen target a couple weeks ago said they're raising their starter wage to $13 an hour and steve works that wasn't because of government mandates it's because as target said we have to do this to retain and recruit the workers that we need. >> and a good word for bill and

melinda gates, free markets you succeed by meeting the needs and wants of others, same thing, that foundation is doing incredible things. >> steve you're at the cool place called the white house a lot going on today and i know they are rolling out big immigration reform, can you tell us about that? >> yeah it was a great meeting we met for an hour and a half with the president, like 25 leading conservative voices and this plan you'll love this plan. it's basically moving our system towards a more skill-based merit -based system where you would attract truly the most highly-skilled, the people with exceptional talent into this country. i love this shift. it would remain the immediate family members would be able to come in, but the idea of second zuhdi jasser can ins and things we get rid of that and we move towards the system where we get the brains and you mentioned bill gates. bill gates says every time he is

able to bring in a highly- skilled immigrant whether it's from china, india, mexico, argentina wherever they come from he says that creates four to five more american jobs so this is pro-jobs, pro-wages, pro -american competitiveness i'd like your reaction to this idea. we should have done this 25-30 years ago. liz: we'll see it unfold tomorrow fox business will cover it absolutely moment by moment and thank you, steve. by the way 2:00 p.m. eastern tomorrow a fox business town hall, live studio audience, charles payne what more could you want capitalism versus socialism what we will do is answer the questions that matter most to you, and your wallet and your sensibility about the future of this country, but up here first, treasury secretary steven mnuchin warning congress against weaponizing revenue internal revenue service over the president's tax return. why he says every taxpayer should be concerned.

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>> there is a difference in interpretation between congress and us and the department of justice around this law that not only impacts this president and this congress , but has a very big

impact on every single taxpayer in weaponizing the irs. >> treasury secretary steven mnuchin accusing congress to weaponize the irs over the request of the president's tax returns. mnuchin's comments come as the administration faces a friday deadline to hand over the president's personal filings for the past six years, along with some of his businesses, to the house ways and means committee chairman richard neil. mnuchin is signaling the issue is likely headed to the court but why not have the president just hand him his taxes, and be done with it? >> well i think there's a very good reason, because he's not first of all he's already being audited, gary by the irs. there's two issues here. one is that no president or citizen of the united states should be above the law that's established and that's why the audits weren't cutoff when he became president but two he's not a criminal.

believe me the left would use the department of commerce if they thought they could get to the president, are they trying to weaponize the irs? yes they are trying to weaponize the irs, trying to treat him for tax evasion. that's not how this should work. liz: you know, kind of i feel if you got nothing to hide, give them up. i just don't look at these things and say oh, he shouldn't have to. it is very political. there's no doubt about that. weaponizing it looks like a rocket, that they're going after with this, but i will still say got nothing to hide, though them >> but the key thing is that's voluntary and you know if these guys establish the president, the precedent that the ways and means committee can get anyone's tax return. you know if you oppose something that they like politically they are going after you. we've seen presidents abuse the irs repeat repeatedly and we saw president obama use the irs

against the tea parties in 2010, 2011, 2012 to a crushed political descent so yeah, the president may do it voluntarily but he shouldn't have to do it by law because these guys will abuse it. >> well he does -- >> you have a very rough voice right now but go for it. >> congress has to release, by law. >> let me just say the nuclear options, harry reid, republicans took advantage of it and you set a precedent like this, republicans end up taking up the house one-day, you get a president, democrat guess what's going to happen this will turn into a nightmare. this is without a doubt the weaponizing and they are going after him in a big way and doing it in the light of day and frankly i'm amazed to be seen it may turn right back on him. liz: gary b., you get to finish this one up. >> well, you know, i'm going to get back to once you get down

that slippery slope where the congress can say irs investigate x, y, or z, we're going down the wrong path especially with presidents of the united states. i'll tell you what if bernie sanders is expected next or whomever and the republicans in charge of the house, believe me this will be flipped around and investigating his tax return. >> and some of the things his wife did, you know where that's going to go. that's precedent now. >> all right, san francisco becoming the first u.s. city to ban facial recognition software. if this mays it harder for cops to catch criminals will they regret it? up next on bulls & bears. >> there are many ways to make our society secure without living in a security state and we have very good policing, but we don't want to live in apple's state. all money managers might seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs.

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it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands? liz: controversy, san francisco now the first u.s. city banning facial recognition software. law enforcement saying the technology helps catch criminals , and find missing people. this in a city the fbi says had the highest property crime rate of any major american city in 2017. east san francisco, sacrificing safety, for privacy? steve, i just want to quickly say, benjamin franklin said those who would give up the central liberty to purchase a little safety temporarily deserve neither liberty nor

safety. that said what do you think? >> i never thought the day would come when i'd say i don't have any sympathy for the government of san francisco but i think it's a sentiment here, sadly with the rise of cameras everywhere already, whether they ban it or not you'll see more facial recognition, we're going to have a danger i don't think it'll happen here but you see it in china where they're using that to have 1984 totalitarian control like never before, so that horse is out of the barn sad to say and we're just going to have to hope we have restraints. liz: gary b.? >> well, i agree with steve and this doesn't prevent as more and more of the economy, hopefully, is off to the private sector, it doesn't prevent the private sector from using facial recognition and their own private security, but you know this is san francisco, so still i'm just reminded of that old definition of a conservative is

a liberal whose been mugged, so we'll just have to wait to see if the crime rate continues, how san francisco continues to vote. >> all i know is what did we do before all these cameras and being stalked on every corner and everywhere we go? my biggest issue is if the police really need us you probably want to give it to them the number one job of government is to protect the citizens. i think it is going overboard but it's the shape of things to come and already here at this time. >> but even before we had this high-tech new york city show showed good policing methods can sharply reduce crime. started in the early 1990s, and we're living with the good results still today. liz: thanks to all of our law enforcement officers we want them to have great tools and protect what is great about america and our privacy. thanks to everybody, by the way that does it for bulls & bears.

i just launched my podcast it's called "everyone talks to liz." thank you very much you can download it on foxnewspodcast .com, also apple itunes, you name it, it's there. liz: president trump plans to unveil tomorrow a new merit- based immigration system that would significantly increase the skills required of immigrants and the president also wants to end family chain migration, watch the immediate backlash because this is a system already in place in canada, japan, new zealand and australia and 52 democrats under president obama wanted all of that six years ago they include chuck, bernie sanders, kirsten gillibrand and amy klobuchar and the world is on edge rising tensions in iran and now this, the u.s. suspending commercial passenger and cargo flights between the u.s. and ventura county. those stories