from now he has mark cuban on his show, billionaire investors, investor i should say, the owner of the dallas mavericks. quite a guest. a get in the news business. neil, my time is up. it is yours. neil: i went to the old studio, where the hell is everyone? apparently a different studio. stuart: right. neil: thank you very much. i love the new look of our network. time for freshening up, i'm staying the same for bet or, it is what you get. this impeachment inquiry continues to rev up. the markets continue to slough it off. we're all over this tick by tick with dallas mavericks owner mark cuban. we have billionaire investor ken fisher, how investors deal with all the uncertainty. so far pretty well. former heinz ceo bill johnson how china could be waiting all of this out.

who says they need a deal more than we do? former republican congressman trey gowdy and democrats revving up for a new hillary clinton probe. a fear that the vote on a new usmca is doa. it's a busy hour. it kicks off right now. ♪ neil: all right. i don't have to say anything. look at the lower right-hand corner. it is green. the market is up. it might seem like a simple thing but important thing. a lot of recommendations over the years we've been receiving from you what could make business news more palatable besides me anchoring two hours of it on this fine channel. okay, maybe not. what we'll be doing the next two hours is showcasing some of the things you have been requesting over the years and we made very copious notes of the things you like, the things you didn't like, trying to explain business news in ways that are always

english. that is a big thing with us here on fox business. also an appealing way so you can see it, grasp it, on our website, even on the tv product you're looking at sort of marry it. that is what we're here to do and i'm so happy you're with us as we continue to do it. this is all for you on basic cable. you're welcome, america. all right, let's get to the issue pressing the corner of wall and broad and that is this on going impeachment issue and a whistleblower slated to speak out maybe in a matter of days but that does mean the president's agenda is on hold? if this is something the markets are worried about, with the dow down 150 points, they have a funny way of showing it. nevertheless blake burman is at the white house where he joins us right now. hey, blake. reporter: neil, president trump continued stream of tweet on this topic focusing on the whistleblower. even using the hashtag, fake

whistleblower. he said, the fake whistle blower complaint is blowing up. the whistleblower knew almost nothing. the phone call was fraud. committee heads have five dep depositions scheduled of two current and former state department officials including later this week. the former ambassador to ukraine and curt volcker, who by the way resigned over the weekend as special representative to ukraine. this morning maria bartiromo asked rudy giuliani who is at the center of all of this as the president's personal attorney if he would sit before congress at some point. he suggested that there are legal protections could potentially inhibit that. >> i can't answer that question right now. that is a very, very difficult question for a lawyer. despite the fact that swamp media doesn't accept it, even

president trump has constitutional rights called the right to counsel, attorney/client privilege, attorney/client work product, things like that. reporter: back to the whistleblower. adam schiff, who is the head of the house intelligence committee, the top democrat, said over the weekend the whistleblower will end upcoming before congress, sitting down with members of congress. however one of the whistleblower's attorneys saying at this point in twitter that they have not yet reached agreement. the attorney for the whistleblower says the discussions are still ongoing. neil? neil: are they getting worried? you hear about the nail biting atmosphere. i don't know how much is truth and all if anyone would know, you have a front row seat, what is it like there? reporter: front row here. you know, one of the questions, you asked me about are they biting their nails. one of the questions is whether or not they will set up some sort of a war room to deal with all of this. all indications that i'm petting neil, they're not. at least not as of this moment.

there is the view of some inside of this building what really changed here in the last week or so considering committees have been investigating it. really the only thing that changed is the nancy pelosi press conference. they have not built out this war room but that could be changing as well. neil? neil: blake, thank you very, very much. blake burman at the white house. we'll get a set of the land this, is the last day of the month, the last day of the quarter. it has been a so so month and a so so quarter but a off the charts year for major market averages. i don't know if you're a billionaire, that you chart this thing tick by tick. i seriously mark cuban does. he is a billionaire many times over, and owns dallas mavericks which i understand is a great basketball team. he is our special guest this hour. he has a lot of things he could be doing but decided to spend an hour with me, which is worth the price of admission. mr. cuban, thanks for coming.

>> thanks for having me, neil. neil: when you see all the stuff going on, politics back and forth, impeachment back and fourth you're not investing tick by tick? >> no. neil: will the markets don't like they have a funny way of showing that, what do you think? >> over the long term, companies will do, stocks will react to the company's performance but obviously when there is a lot of uncertainty companies have to pay attention then, plan accordingly. that impacts the stocks prices short term. neil: in technology where you made your fortune, very good timing investments and buying of companies at key moments, that is going to be a tougher call in this environment. do you buy that? >> it depends on the company. if you are selling equipment, want to sell to china, want to sell globally, your supply chains are at risk, yeah it makes a big difference. if you're developing software, an app primarily in the united states it is just noise. neil: you and the president have had sort of this, would i call

it a tempestuous relationship. >> i wouldn't say that. some days we're friends, some days we're not. neil: you had said a few months back, around the time we chatted that you still think odds are that he would get reelected? >> do you still feel that way? >> i think it is changed, changed considerably. i'm not trying to handicap it. when someone asked me three months ago, four months ago, i said on that day he would have won. i think now there is uncertainty. you see that how he responds to things. neil: what do you mean by that? >> he doesn't seem to have the same confidence levels in the past. calling president of ukraine. if you're completely confident there is no reason to call him to ask for a favor about a political opponent whether or not it was a favor. there is no reason -- neil: do you think that there is high crime or misdemeanor, impeachable offense? >> i don't know. i can't make that judgment. we have politicians that drive themselves crazy. neil: i like a guest that says i

don't know. i made a coo rear on that. there is a lot of ajita term going on an italian term. >> i know it very well. neil: they're nervous, feeling pressure, should they be? what makes this different than some other issues? >> if you're calling a foreign leader and even discussing a political opponent that reflects something. i don't know exactly what he was trying to accomplish. only he does, but why would you do it in the first place? that is the question we don't have answers to. may be a one-off, he was curious, something that came into his mind at the time or maybe part of a bigger issue. maybe he is feeling the heat. maybe he is concerned about the election in 2020. again i don't know, over time we'll find out. the real question is, if he is uncertain and calling for, because of that uncertainty who else did he call? if you're uncertain about an election, whether you're looking for help or not he is someone to call others to ask questions. he always wants to call people and get feedback.

neil: right. >> maybe he was just doing that but who else is he calling? neil: you have a horse race in yourself you are a democrat at your core. >> no, far from being a democrat. neil: you don't like the president. you didn't want him. >> not that i don't like him i didn't think he was best choice at the time. neil: but vote for hillary? >> what? neil: did you vote for hillary? >> yes i did. it was more than i didn't like trump at time. neil: have you guys talked? >> we disagree on some things and things we disagree on i don't bring up and he doesn't bring up. if it were up to me i would get all political parties. that is a big source of at jita. every plays for their team. everybody is a bandwagon fan. we don't talk about the issues. future presidents it will be difficult to offer some type of leadership because we're so excited about our own team as opposed doing what is right for the country. >> is the last time you talked

to the president? you can whisper? >> i think four or five weeks ago. neil: before the latest dustup. >> yeah. neil: you think that changed the complexion of the date? >> it has changed the calculus of the future elections and general debate about politics, yes. neil: let me switch gears on that, mark, if you don't mind. a lot of businessmen have been saying this is the reason why they're holding back on their capital spending plans, the reason why they're not hiring or -- it seems like what retailers used to say if they had a bad quarter blame it on the rain. they never credited the it on the sun. >> right. neil: a lot of that is excuse making. what do you think? >> depends on the company. if you have a global supply chain you need to be paying attention. if you do business with china or like to do business with china you need to be paying attention. if you're buying and selling t-shirts made in china or vietnam and you have a global supply chain you -- neil: do you have any business in china yourself? >> absolutely.

i have a company that sells bikes, guardian bikes. they have sure stop technology that there is one part that is exclusively made in china and so we can't switch our supply chain. it is the only place we can get this one part. not like we can move to vietnam, we can't move it back to the united states. on top of that we're paying tariffs. we've applied for waivers. we haven't her back yet. neil: who is going to decide that? if it is the president you might not get that. >> might not. that is a big impact for smaller companies in particular. neil: but you have difficulty dealing with china? you hear they have rough roughshod over u.s. interests and u.s. ceo companies you have to practically give their firstborn for them to do business with them. do you share that? >> there are challenges doing business in china no question about it but you know that going in. the big question what is the endgame. if president xi called ups yes, yes to everything, president trump, the answer is yes, then

what happens? you could make the argument if we completely open up china will we move more factories to china now. if we're selling a lot more to china, it has a lot more people than we do, why wouldn't factories just move there because it is more central -- neil: a lot of them throughout this, even before president trump came into office were slowly hedging their bets in the region moving to vietnam and thailand that trend will likely continue. >> that depends what happens. if president xi says yes, all the roadblocks are gone now the market is open up to all american businesses it is not like more factories will open in the united states. it is the exact opposite. now all of sudden if president xi says, you know what? we'll respect all american ip. not like companies don't do espionage. that espionage just moves to a different location, if you were, different focus. i think we have to be careful what we ask for, really follow through on the consequence what is we're trying to accomplish. neil: let me get your take on a

separate development getting headlines out of california where they're moving to pay college athletes. >> right. neil: ncaa does not follow that move. california is an incubator for this. how do you feel about that. >> ncaa one is a mess. they're a big sort of the problem. they're very bureaucrat i can. their interests are the no really aligned with all their schools. certainly not aligned with players interests. set that aside, when it comes to paying players as employees you have to ask yourself what happens if they get fired? what happens if you want to fire them? do we want to fire student athletes? you're not good enough? you will lose your scholarship? we'll cut your pay? how does relative pay work? i think i deserve more. i'm the quarterback. no, i'm the offensive lineman i deserve more. neil: you as a team owner, the mavericks owner are you more or less inclined to look at a california college athlete who

might automatically come in with a higher pay request because he is getting paid a lot at the state level and college level. >> in the nba there is unions. that makes our lives a lot easier. neil: wouldn't make sense? >> no. with kids in basketball they developed such followings on social media they are brands before they get to us. look at zion williams. he hasn't played a game in the nba but everybody knows he who is. neil: if this goes national, it is not out of the question other states pursue it. i don't know legally if they can, then what? >> i don't know. i think, my guess is, this is only a guess the ncaa may implode as it applies to football. you may see third parties come in with a lot of money, you know what? this is about the cash. you need to focus on yourself as a school and economics as an athletic department, let us invest in you. extract yourself from the ncaa.

go with other schools and we'll create our own organization and create our own economics because now it is about the money. we'll be brutally honest about it. we will pay the athletes. focus this on a true business. the ncaa doesn't allow them to run it as a true business. like i said the interests of the ncaa as an organization are not fully aligned with the economic interests of the schools or the economic interests of the players as those are a part of the equation. neil: wow. you stick around for a while. >> it is fun. neil: one of the world's richest men and one of the world's nicest men. >> gracious. neil: i didn't it is what it is. what we will try to do here, folks, help you understand this labyrinth of the business world this young man knows all too well but a lot of people sometimes, neil, you're throwing a lot of nonsense at me. so we're just trying to make it easier. we're color-coding everything. simulcasting what you hear and see. miss an interview, some of that with this guy, you will get to

hear it again and again on our site. part of making it friendly for you, in english in color, in a way that galvanizes people's attention. there are other business networks that do this sort of thing, not like us. not with a fraction of the passion. stay with us. you're watching fox business. ♪ your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity.

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under our proposal somebody like jeff bezos will pay $9 billion a year more in taxes. neil: can you picture a bunch of billionaires in the room, that's it, it is all over now. we have one with us, mark cuban. bernie sanders unveiling a new plan to target what he calls income inequality. the best way to do that force the rich to pay more in taxes so we can crunch that down to size. ken fisher will join us. the billionaire investor is not a fan, just because he is a billionaire is not the issue. the fact that the rich have a lot of lawyers, attorneys, accountants they can find ways around anything like that. they also can move, get out of town. it might boomerang on you. mark cuban, what do you make of that, what bernie is trying to do, elizabeth warren paying wealth packses? >> i said i don't mind paying taxes. after military service it is

honor to pay taxes. how will they spend it. bernie and elizabeth warren will max out how this much they charge how much we pay but what are they going to do with it? with the proposals they haven't prioritized. there is finite money they can collect. what is most important? single-payer? paying off medical debt? paying off student loans? is it long-term care. you can't pay for all of it, what i have yet to see from any of them. neil: you eventually run out of money. you can't tax 100%. >> you can't get everything. neil: what i like about bernie sanders, he is very honest to say i am going to middle class tax hikes because you're going to pay more but you will get more that is the argument. even realizes, hitting guys like you isn't going to do it. but the bigger issue you guys are targets. the very, very wealthy. >> right. neil: the way to correct this imbalance is to start having you pay up, not just a little more,

a lot nor. what do you think? >> i don't mind being a target. better me the target than the guy or woman or family, making 30, 50, $80,000 a year, grinding hustling. cam at me. neil: i prefer go after the people earn a dollar more than me. not the opposite. >> right. in any event i want to know where it is going, right? show me that you can be efficient. show me that you can get results. show me that your plan is not just a statement. look if we raise, if everybody races their game right, if the american population is in a better situation afterwards, great. i -- neil: you have your doubts? >> i have a lot of doubts. i look at it america, inc., right if more consumers earning more money that is great for all businesses. we're raising the tide, everybody does better, right but you got to show me that is going to happen, and that you thought it through. you can't just scream and yell to get people to vote for you without having a cemented plan.

i think that is the core problem. neil: do you worry as well that there is a lot of creativity and ingenuity in terms of raising revenue, not really much in cutting. >> right. neil: i can fault republicans on same thing that you have. so the deficit, the debt gets bigger, bigger? >> there has to be strategy, right? it was a operate tactic to lower costs, to lower taxes but a big part of the modeling of lower taxes is by reducing as much friction, minimizing the amount of friction in the business community. if you introduced tariffs, now all of sudden model for lower taxes is not the same model you started off with. if you will lower taxes, you play out the entire strategy. we don't really get to see net effects of any of these models. i think that is a core problem. whether raising taxes again and creating more programs. if you think it is going to have a net benefit, follow it through. if you will lower taxes reduce the friction, become more libertarian, that's great, follow through. you can't introduce tariffs

because all of sudden the model is violated. neil: if it's a wealth tax, it is static tax. it is one thing to bring the top rate up to 39.6%, in bernie sanders plan, it would be kind of the same under elizabeth warren's, guys like jeff bezos would pay $9 billion a year more in taxes. he is not going to do that. >> of course not. neil: he will find ways around it. >> like a property tax. they suggested it would be like a property tax. that raises liquidity issues. now all of sudden the law of unintended consequences if i have to sell stocks every year to pay the wealth tax. neil: or mavericks. >> or mavericks. whatever may be. neil: a lot of fans may say good. >> there won'ting as many people to buy it because they have to create equity. i think it's a lot of posturing, talking, playing to the base. neil: is it -- on a certain level? you were not rich growing up. made fortune, looking at technology companies, selling rice time.

people that know your story is really remarkable story. it is almost deemed those are ill-gotten gains and the rich are lumped together taken advantage or rigged system i i'm not apologist for the rich. >> right. neil: is that bother you? that is growing sentiment among the progressive base? >> anytime you count something or in terms of something, right, left, progressive, could an serve tiff, that is part of the problem, right. neil: that is a progressive view though? >> i look at elizabeth and bernie view. they have their acolytes. neil: virtually all candidates are looking to raise taxes on the wealthy. >> yeah, but raising taxes is relative. we saw reduction in taxes where are they going to take it? a wealth tax is something completely different. that creates liquidity issues. when we talk about a wealth tax, that is limited to bernie and elizabeth. neil: well, biden is kicking one around. >> i haven't seen that plan.

that i don't know. neil: what i'm asking you, does that idea that the rich are now -- used to be admired and -- >> right. neil: now, wait a minute, maybe they got it in a -- >> i don't feel put upon. i don't feel like we're a target from two people. loudest voices are elizabeth warren and bernie sanders. some are playing to base. here is what i know, neil, the american dream is alive and well no matter who politics against it. no matter who says starting a company, becoming rich is not the right thing to do, it will not change what i do. it will not change the people that come on "shark tank." it will not change the 150 plus businesses i invested it or 1000 business plans. neil: not even a little bit? >> when millenials and gen z have social component. neil: when you started out you had much higher tax rate.

>> in the '80s, it was much higher. it went down. it was found money. neil: that didn't enter the equation for you, whatever the standard rate was. >> no. i could not tell you what the standard rate was. i got fired from a job. started a technology company. i couldn't tell you what the tax rate was. went seven years without a vacation. sold it, $6 million in 1989. i couldn't tell you what the tax rate was. when we started streaming industry i couldn't tell you the tax rate. neil: you would know if it is 80 or 90%. >> i'm an entrepreneur. i will do what i will do. people started a company, people not working for themselves. will they pay attention to it? probably. will it stop them? hell no. neil: if you were financially supporting candidates, i don't know how involved you are in that aspect, many on wall street, a lot of big money types are leery already of elizabeth warren and keeping their hands off their money. i don't know if joe biden goes

this route whether they get similarly skeptical with him but wouldn't that chase the donor base that really funds a lot of these candidates? >> i mean, i can see from their perspective. i mean it is like the kerry tax. there is lot of things, if you're in a business where the foundation is financial engineering, tax rates matter, right? neil: but for you tax rates are on dividends or cap gains. they are not an income tax. >> no. it is not really going to change. when you're an entrepreneur -- neil: that is why the guys are pushing a wealth tax. >> to get revenue from that. neil: what would you do? >> probably wouldn't change a thing. neil: really? you wouldn't reincorporate somewhere? >> outside the country? neil: no. >> no. that, i can't do it. i'll an american. i just can't. i just can't. remember whatever happens if it is not the right thing, it is four years. it will be obvious very, very quickly. i think a wealth tax is a nice talking point right now for elizabeth and for bernie. i don't think it happens.

because they don't have to delve into the details. they don't have to dig in how it would actually work and what ramifications would be because liquidity will be a huge issue. neil: right. and money can walk. >> you saw that in the uk, they went to 90% rates and people moved here. money could, i wouldn't, but i don't see it happening. i think it's a great talking point. i don't see it happening. neil: maverick fans waiting for you to leave. >> that is not happening. that is not me. neil: we'll take a quick break. we'll explore the issue with a legendary investor. rags to riches story. his view is parochial. the rich will find a way to avoid that, s.w.a.t. teams of lawyers and all that to bring home the point. might be a cynical view and he is following political developments, the impeachment stuff what you've been hearing, much ado about nothing. the dow up 159 points. you can see that in green. unless you're color-blind so we'll provide an up arrow after

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neil: mark cuban telling as you few minutes ago the president is losing a little bit of confidence. charlie gasparino says it could be worse than that. he is showing real angst. what are you hearing? >> you can surmise this from people he is talking to, from what i understand the president himself has been making calls to outside advisors, people he

leans on for advice and discusses matters over, particularly weighty matters like this, hears been doing that the last couple days as the scandal, ukraine scandal has erupted and he is trying to gauge what they think is the severity of this. it is interesting to note that in these conversations from what i understand the president is downplaying his own culpability. saying there was no quid pro quo in his conversations with the ukrainian prime minister. that this was all just, you know, stream of consciousness talking to a fellow, to a fellow world leader. also interesting to note that he is also downplaying impeachment moves. you know, its as if he is telling people, listen, they're not impeaching me. they're just thinking about impeaching me. some of these people have spoken to him they said no, likely to get impeached. they told him that. most interesting thing from the conversation he is thinks there is some benefit to him as this. he thinks it will rally the base

of support. he already pointed to in the conversations increase in fund-raising. they have got more money since the thing has come in. that his supporters are lining up. so you know, listen there are two-ways of looking at it. at least one person i spoke to, spoke with the president, said these calls generally reflect anxiety, even if trump puts on a brave face. you know, but the president is a fighter and, you know, this is a guy who actually does better when his back is up against the wall. we've seen that in the past. so, at least that is what we know as of now. he is calling. he seems anxious, but basically saying there is a silver lining here, whatever that might be. including more money. neil, back to you. neil: i will bring mark cuban into this. there is something here. i'm getting a sense that these latest attack lines are registering at the white house. they're different than those in the past. i don't know if that is true.

i know the response is a little different and guarded, what do you make of that? >> obviously i'm not there. i can't speak to that but donald trump is a great tactician. he has great feel. he is not a great strategist. when it comes to reacting, when it comes to fighting bag he is really good. that is why he got election. people want ad non-politician who would run through walls for them, fight the stat discuss quote -- neil: this is what happens. i'm not saying impeachable, high crimes and misdemeanor. >> that is why he turns to his friends to find out. he had so much turn over in the white house. so much turnover in his advisors i don't know he built up enough to turn to for advice. >> mark, can i cut in here for a second? >> sure. >> one thing about trump which is very interesting just how informal he is is. he has had a lot of turnover. if you called the white house switchboard you want to speak to

donald trump you could probably get through to him. that is type of person he is is. >> i agree 100%, charlie. neil: because his name is mark cuban. >> i will give you a little story. i was once -- neil: i feared this. >> i was once hanging out with someone who everybody knows on this stage who basically called the white house switchboard and got through to him. he is not mark cuban. he is not that popular but the president, in matter of hours picked up. i think, you know, he has an informal -- >> what is the number, charlie? >> it's a generic number too, that is the funny thing. i used to know it. neil: i have that kind of impact at the olive garden. >> i have used your name at olive garden a lot. >> you got free bread too, right. neil: free bread. cavuto doesn't like the salad but the bread is coming. let's get trey gowdy, former south carolina congressman,

fox news contributor. congressman, good to have you. you heard this back and forth, something about the latest attack line of ukraine thing is rattling the white house. in prior conversations you think that is overblown but there does seem to be this concern at very least we get hearings, at very least we got the house moving as fast as i ever seen them move -- i wish they could move quickly on debt and budget issues, leaving that aside what do you think is different this time, if anything? >> i think there are three issues. number one whether or not the president used his office for personal gain. i think if you look at the transcript i would rather have the defense than the prosecution. i think second issue is handling of the call. anytime you're explaining you're losing. and there needs to be a explanation if in fact that call was handled differently. the other thing you have to explain not to much the role of the attorney general. if the attorney general cannot solicit evidence that at one point the fbi also wanted then

we're in a really weird place but using private citizens like mayor giuliani. i think he is explaining in three different categories. when you're explaining it is always more difficult than when you're on offense. neil: i guess he wants to be back on offense relaunching investigation of hillary clinton, whatever the merits of that, congressman, does it worry on any level the way he handled the ukraine thing so soon after the mueller probe to engage leader after foreign power in yet another u.s. election for whatever reason? i'm not a lawyer. i watch ad lot of legal shows so i think i qualify, who are now saying there is an icky factor there, that doesn't look good for the president of the united states to be doing something like that, maybe not a high crime or misdemeanor or impeachable but doesn't look too great. what do you think? >> neil, this president campaigned differently than any other politician i ever observed. i think he interacts with the

media and with the publicly than any other politician i ever observed. if i were sitting beside him, would i have encouraged things to phrase things differently yes. but if you look at the transcript, he says us and our country. he doesn't say brad parscale and my campaign. he is not the one who brought up rudy giuliani. the mayor of ukraine did. neil: he brought up joe biden and hunter biden. >> with whom? neil: with the leader of another country. >> you're 100% right. who did he bring up the bidens in context with? was it giuliani or was it bill barr? it was bill barr. i think that makes a difference. if the attorney general cannot solicit information, look, do you agree if a former vice president misused his office, it is still relevant? there is no statute of limitations on malfeasance or misusing your office. i think you and i agree on that. if we agree, what is wrong with having the top law enforcement

official in our country sorting out whether or not there is anything to that? i have no problem with -- neil: but if he is telling a leader of another country about joe biden and hunter biden on any level, now you said that, you would probably handle it differently, i hope i didn't misinterpret that, that doesn't help the president's case when others are going to sniff around and say, what other phone calls were there? what other transcripts do or can we get access to? that it opens up pandora's box he might not like? >> neil, i think you put your finger on something, we live in this culture of relativism, if our side does it, it is okay, if the other side does it, it is not okay. i don't think it is okay to have a fbi agent who doesn't want you to win leading your investigation. i don't think it is okay for the dnc to pay a foreign country for dirt on political candidate. there are a lot of things in the

last few years i thought was okay. i hope we get past it as a country. is it a offense that you receive the political death penalty, not based on the transscript what i have seen. i don't know what i don't know. i know the transcript, i would rather have the defense than the prosecution in an impeachment trial. neil: do you worry, do you think this will stymie anything the president wants to do now. >> no, i don't worry. i know it is. there is no question. it is going to dominate, until it es punted to the senate. it will put people like cory and martha and thom tillis and really unusual positions, leading into a tough 2020 reelect. i'm not so sure that is not the objective. i don't think he is going to be convicted based on these facts. so it can't be because you really he is going to be removed from office. what is the secondary explanation. it placates the base, fires up the base, it puts the senate in play. if a democrat does win in 2020,

of course they're going to snead the senate. if you have a republican senate, he or she will accomplish nothing. that is the politics of it to me. i'm a much better lawyer than i was a politician. i like the legal part of impeachment better than i dot political part of it. neil: you were good at both. let me ask you though, congressman, i use market as as proxy on the markets but the markets can be wrong and thinking this will go nowhere the president survives it, if anything it hurts joe biden and they think will help elizabeth warren who some seem to view far more beatable than a joe biden. that is the rough translation, i think i got the gist of it. what do you think? >> i know you're a fact centric guy, i am too, i think the president of ukraine was elected in april. this phone call took place in july. i think biden was a lot better in april of 2018 than he was, or

2019 than he was in july this year. biden is already fading. i don't know that many people who think he will be the nominee. he is losing momentum. others are gathering it. mark cuban has forgot more about the market i will ever know. i will let him discuss. that is not false modesty. he really has. i will let him handle the economics of it. i don't think anybody thinks the president will be removed from office but this will be a cloud over, just like russia was a cloud, this will be a cloud until 2020. neil: i will still ask you wall street questions. i will ask mark about the political stuff and see who of you screws up. trey, always good seeing you. thank you very much. >> yes, sir, thank you. neil: mark cuban, what do you make of that, that prevailing sentiment, i know it is always risky that anwar war can't possibly defeat a donald trump because of all these ideas? >> i don't know but congressman gowdy was right, if you're explaining you're losing,. neil: there's a lot to that. >> so i think that is not going

to change. in terms of what happened, how that impacts the opportunity for elizabeth warren versus joe biden, there is a lot of cards to be played between now and when it starts in a few months for the democrats. neil: hasn't hurt the president's fund-raising since all this started. >> brad is good about that. they are good sending out email, email, they are not raising mon from 64 million people. they are raising money from a solid base. neil: all you need as far as raising money. >> you need it. i don't think it will be the game-changer it was in 2016. neil: we're watching closely the dow is up 159 points. utilities are having a tough time. people feel less inclined to be cautious in this environment. we'll be pursuing that. we'll look at oil markets. european and asian markets united in this front.

they want donald trump to survive this. why would that be when so many are so critical of this president. we'll explain or try to after this color-coded in english, the way you like it, spanking new side -- studio, the paint isn't even dry, did we use paint on this? we did not but i smell something after this. it was a life changing moment for me.

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neil: all right. forever 21, not forever much longer. in fact the fashion retailer just filing for chapter 11 bankruptcy. is this a time of things to come for the consumer? pace is picking up among retailers hiccupping. kristina partsinevelos has more at a for every 21 on times square, right around the block.

reporter: this is epitomized by for refer 21. the one i'm standing in front of is over 90,000 square feet. it is huge, four floors. would the company specifically be downsizing this location, would they be closing it. they responded said they would close up to 178 stores in the united states. they wouldn't cite anymore reasons but you can think it has to do with high debt. the fact they're in malls. people are not going to malls and going online and this store grew very fast. i asked shoppers what they felt about forever 21 and the bankruptcy. >> i wouldn't be surprised. their stuff is really cheap. they don't have a lot of good sales. they do sometimes, it is not that busy in a lot of stores. >> it is shocking to me. it was like a big story. and. it was like everybody liked it. so, really shocking. >> i really like the store. so it's affordable type of

clothes. so i think it is sad. reporter: neil, we know it is not the only store that filed for bankruptcy. we have gym -- gymboree, charlotte ross. for the shoppers you can use the gift cards and business as usual until they start to close stores. back to you. neil: kristina, thank you very, very much. back to mark cuban. i know retail and retail establishments might not be your immediate thing but it is interesting the pace of bankruptcy or bad business filings have picked up. i think 40% beyond the pace of last year. what's going on? >> obviously online matters. congress had impact everybody expected it to. traditional brick-and-mortar retailers would hope to have ways to work around it. some found some solutions. it is not as business as usual anymore. if you opened up stores 10 years ago, rents escalate and you're

in trouble. it is hard to regenerate traffic. hard to -- neil: some of these guys have an online component. it wasn't amazon.commish. that is the standard, right? >> if you have 1000 locations that will dominate your business one way or the other. or 200, whatever it is forever 21. so your rent is still your rent and your landlords will not renet. so you have a significant hurdle to overcome in terms of rent and occupancy costs. walk down the streets of new york, see all the vacancies. neil: amazing. even after the meltdown, still a lot of them out there. >> yes. >> what do you make of that? everyone alls fears something horrific like that happens it will be repeated. maybe it is another bubble. maybe interest rates are that bubble i don't know, but when you step way back, what do you think? >> i don't think we're repeating 2018 and 2009. we saw crazy things happen in the repo market and things with

overnights but -- neil: that is weird too. it was difficult for people to get money. >> there is questions about liquidity with treasurys, what would happen if there is a big selloff there. who will be buying it if it is not our government. so there is a lot of questions again. i don't know the answer to there. but from a fundamental perspective, i work with a company horizon nation, is athletic workout gear. i look mere for locations for experiential places things are booming. there are five, six, seven of them close together in tribeca, wherever they may be. that is not going away. that is improving. you see change from traditional retailers or department stores to places you go to do things you can't do online. that is not to say you can't buy a peloton, hopefully you don't buy stock in peloton at this

point. >> what do you make of that? it has a great business model. it was doing well. not a great offering. >> i think they're emblematic of bigger problem. companies that have to buy revenue that can't grow organically have problems with the stock market. you see it with uber and lyft. i was an investor with lyft. neil: when you say buy revenue. explain something to keep momentum going. >> if you have keep on spending more money in advertising than you're gaining in revenue or this -- neil: wasn't that the amazon model in the beginning? >> in the beginning, yes but they were able to expand their business and increase their margins. neil: they were always cash flow positive. >> for the most part. for the most part. to disclose i have like close to a billion dollars in amazon stock. neil: you and me both. so weird. so uncanny. >> amazon is the best startup in the world. when they created aws to solve a need for their internal company, right? they have done this across a variety of platforms. you don't get that opportunity.

peloton as an example, lyft, uber -- neil: i was going through this. it has been awful for a lot of these guys. >> by the way i love my peloton. i love my workout of my peloton and i'm a subscriber but when i look at their financials they have to keep spending more and more in marketing to keep growing their revenue that's a red flag and a challenge. neil: do you think it is an indictment of ipos in general? >> no. different issue. certain types of companies, they have a hard time finding equalibrium when they start reducing marketing outlays and expect their sales to grow organically through referrals. that is challenge. uber hasn't been able to do it. lyft hasn't been able to do it. peloton as an example. there are others. in terms of the ipo market. when you're a five-year-old company and hoping to become a unicorn with private investors you're probably agreeing quickly. maybe you're buying net revenue. maybe you're buying quickly. by the time you're 10, 12, 15 years old with these

companies. you don't have the same growth rate. neil: you have to have an end game, right? the market has to see eventually you will make money? >> at some point you have to make money. by your 10th year if you haven't demonstrated what that is, that just going public -- neil: if you're an investor, looking at the markets, during the dot-com boom? >> totally different. put that aside. that was a different beast. different animal. now, right now companies were waiting too long. if uber would have gone public fifth year or lyft fifth year in they would have much more accelerated growth. the market would be more forgiving. could have gone from 500 million to one billion market valuation they would be heroes. neil: are you going to run for president. >> my family voted it down you have young children. >> 13, 16. if they change their mind i'm all in. neil: just tell them you are. >> no notice.

neil: thank you very much, my friend. if you think what he has created, what he has done it's a remarkable success story here, whether you agree with his politics, very smart man. i knew him when i was worth less than one billion dollars. we'll have more after this where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. where the nation's biggest party store can staff up quickly as soon as it's time for fun. this is the world of adp. hr, talent, time, benefits and payroll. designed for people.

...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. we could not ignore what the president did. he gave us no choice. i always said we will follow the facts where they take us, and when we see them, we will be ready. >> they lied to american public. they're trying to distract from maybe the greatest market this countries ever seen in the history of our nation and this is going to backfire on them. >> after the last two years that we have been through, the president well understood that it was illegal to seek foreign assistance in a campaign, and immediately after mueller testified, that is exactly what he was back at doing again. >> it's going to be impossible for shiftless schiff to pull this thing on the president when biden actually did what he's

claiming the president did and then trying to ignore it. neil: isn't that weird? none of them seem to agree. the back-and-forth over impeachment, get set for a back-and-forth on wall street. so far it's usually no backing up. today, coming up, tim ryan on fears that an economic agenda will be pushed off and he's running for president. billionaire investor ken fisher on why he says you should still be all in. and bill johnson on china, watching all of this play out. neil: welcome back. our new look, our new studio, our new everything. you know, over the years a lot of you have said if you could just do this or just do this and we copiously took notes, color-coded them. this is one of the things i like to do here, color-code my notes.

if there's a lot of red, you have to be leery. if there's a lot of green, you have to be happy. if there's a lot of yellow, i don't know what that means. but we figured it would be a good opportunity to do a lot of things we have collected over the years and address a lot of things you said we should be addressing over the years. if apple can upgrade and fine-tune its phones, this is the product, a product for you. you really are the reason why we're here all these years later and succeeding when many people didn't think we would get out the gate. we did then, we are now and thank you, america. welcome, everybody. i'm naeil cavuto. the dow ending the quarter in positive territory. the final grades are not in, three hours away, but factors are weighing on the market that so far are not challenging the market. this whole whistleblower that's at the center of a probe expected to testify very very soon. to hear democrats tell it, the president is all but done. but former whitewater prosecutor ken starr was telling me over the weekend not so.

is that something that bothers you? >> yes. i think what the president said, he used a word that was very very wrong, reciprocity. we need reciprocity. i'm embellishing even on that. but that's not a crime. that's not a crime. i think it's poor judgment by the president. he should not have done that. so he's making the tie and i don't think it's a crime and i think that's the better view. i know people are saying oh, that's a crime. no, it's not. neil: trish regan is with us, host of "trish regan primetime." phenomenal show. she looks very sweet when she gets into an interview. she's a cobra. she joins us right now. how are you? >> i'm really good. this is an exciting day. neil: it is fun. you hear this back-and-forth a lot on impeachment, how far does it go. mark cuban said for now, just for now, not a big obsession for the markets but stressing for

now. >> well, look, i think the markets are looking at the reality of the situation and they're saying this is political and if it continues to be political, then they don't have the votes. in the senate. so he may get impeached in the house, then it goes to the senate and they don't have the wherewithal to carry through. that becomes one big dog and pony show. i think the markets would start to care if they felt like the senate would tip against the president, if there were republicans within the senate that would say okay, this has gone too far, i'm going to vote with the left on this. neil: they hate uncertainty and they are fairly certain nothing uncertain happens, right, that the president survives this even if he's impeached in the house, all bets off in the senate, but even that, they are getting ahead of themselves so they buy on what they like right now. right? >> don't forget, a lot of these senators have to answer to their constituents so they look at

themselves being up for re-election, if they've got a base that's saying wait a second, you just jumped in on the party and you went with the left on this one, can they get re-elected. unfortunately, you know, for better or for worse, washington is a very selfish place with politicians that are very interested in their next election and so they are listening to their people, listening to his base, and it's the base, if the base is with him on this, i don't think you will see a lot of senators wilt. neil: tonight, are you exploring this from all angles? >> we have steve bannon on, somebody who knows the president very well. this will be his first reaction since it all unfolded. we will get his perspective on it. i'm curious what's it like when the president has a call like this, and maybe you are thinking okay, this is maybe not the most appropriate thing to say. does anybody in the room go no, no, no, no, no, or is he just off to the races in his own way. steve will give us some

perspective on that. he will also talk about what's going on in china. don't forget, they have the 70th anniversary which is actually the parade's going to be starting right as i'm going to air in beijing. so they will be marching and -- neil: not in hong kong. we'll see. >> hong kong is a real problem for them. steve has been a thorn in their side. we will get his perspective. neil: he is quotable. trish, thank you very, very much. look forward to seeing the show tonight. she's got him. meantime, to billionaire investor ken fisher on all of this impeachment stuff. ken said something interesting lately. always says something interesting. multiple bestselling author, multi-billionaire. he says circuses don't kill bull markets. i think he was referring to that process of impeachment. ken fisher, good to have you. >> always good to be with you, neil. thanks for having me. neil: this is a circus? >> well, you know, when you look at a lot of it, it kind of

sounds like the name of a p.r. firm, sort of like winking, blinking and stinking. a lot of wild claims and you know, when you look, there's the congressional part and then there's the presidential aspirants and lots of people saying lots of stuff which is if you think of the aspirants at this point, all of the ones not riding at the top of the polls actually have to say a lot of extreme stuff to hope to get up in the polls, because there's only four months until iowa and new hampshire and after that, if they're not up, they're dead. not literally dead but you get the point. then on the congressional side, this is all this one big jiggering about the house and the senate with the elections very center of mind, and you know, a handful of states that are in very swing condition in the senate that has very big import for 2021 and beyond. yeah, it's a circus but it's not

an unusual circus. it's just a little more extreme. normally markets in the third and fourth quarter of the third year of a president's term and often the first and second have a lot of this wild to them that grinds on the market and you used the word uncertainty. markets don't like rising uncertainty. they like falling uncertainty. as we move through that process, it tends to funnel down eventually to where it gets clear that one or two of the potential nominees, then eventually one, then eventually it funnels down to the market pre-pricing because it usually does, who will actually win in the end, and that's all falling uncertainty. i think for awhile we can have kind of a bull market that continues, but begrudgingly and grindingly, a lot of this bull market has for a decade now. neil: what would give you -- i think you had said it's not a great world but it's an okay world. it's an okay world. >> yeah. there's all kinds of good things

going on, most of which nobody focuses on. right now people are focused on the bad. in europe, people are focused on the bad but in fact, earnings are improving, corporations in europe have had lots of time to batten down the hatches about every potential known negative, whether it's got to do with interest rates, whether it's got to do with brexit, on and on and on, and they are doing pretty well and nobody notices. the election cycle in the european world, i have spoken about this before, is actually positive. the aftermath of eu elections has a very strong history of being positive because people fear in advance the eu going crazy, and the populist trend in europe is also positive because we have for the first time in history pan-european gridlock virtually everywhere as the populist left and populist right are opposed the center parties that lost power and everybody hates everybody which is bullish for stocks. neil: because nothing gets done in that environment.

>> you think about this like an obstacle course. the part about gridlock that's beautiful is in business or in life, you are kind of moving through an obstacle course and when there's heavy legislation and lots of things being done, it's like an obstacle course with big sharp fast-moving unpredictable obstacles and you move through it kind of looking around being real cautious. when you move to gridlock and that gets stabilized, the obstacles get stabilized, you start moving through faster, things pick up, people get more optimistic, progress is made. we just entered that world and people don't realize that. there is all kinds of other -- i make the point which i have made forever, we haven't had a negative third year for presidents' terms since 1939 which was only down .9% going into world war ii and in fact, we only had four negative years in a fourth year of a president's term. normally the negative years in american political history are in the first or second years of

presidents' terms, of which almost half are negative because that's the period of rising political uncertainty tied to the fact that legislation actually goes through almost all, people don't get this but it's true, almost all big legislation in american history, modern american history since the beginning of the 20th century, is in the first two years of presidents' terms, create rising uncertainty about what they might do next. neil: the reason in this latest environment, we have all the trouble with some of these ipos, peloton of course is stumbling out of the gate, lyft, smile direct, uber, blue apron, i think you had referred to ipos not as initial public offerings but it's probably overpriced, so maybe they are getting -- so you don't worry about the lousy reception these guys have gotten, because the lousy receptions seem to be outnumbering the good ones. >> flip that on its head, neil. think of how positive that is and what it says about sentiment. if you go back to john templeton's line that i quoted

on your show before a number of times, bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria. if ipos are generally going flat, that tells you -- and there's not that many of them and the ones that are are usually going flat, that shows a lot of sentiments. it's a bullish feature. people don't recognize it as a bullish feature but when ipos don't do well, when pigs don't fly, the reality of that is that it's fundamentally bullish. neil: because they're holding them to a tougher standard, right? and that's a good thing. >> that's good. that's good. if you think about what we just saw in the not quite public world with the wework discussion and all the things that went with that, that's actually a positive feature because it said okay, so you got these crazy venture capital and private equity guys that did all this stuff, okay, they do what they want but when you get to the

public market they couldn't fly it. that's bullish, not bearish. it's a statement about sentiment having lots of room to run. neil: you know, last time i had you here, we were talking a little about elizabeth warren's wealth tax, a number of other candidates have come forward with versions of their own, including bernie sanders, who wants to force that on companies, if they have x number where the ceo is paid, you know, what he called an un-godly amount over the lowest paid worker, there would be a surtax on that, surtax on billionaires like you. joe biden is apparently kicking around something similar. you ever feel like custer, they're all out to get you? >> oh, no, i really don't. i don't think that way and i don't think actually anybody really should. as i referred to earlier, at this stage, presidential aspirants say a lot of stuff hoping to gain ground. biden, who has been kind of slipping, needs to find something to buoy that.

sanders, who is otherwise a guy that had a lot of enthusiasm last time but is kind of not playing this time as strongly as he did last time, needs to come up with some spark that gets him going if he's to go, so he floats this and he floats that. there's a lot of floating and nonsense that has to go on between now and new hampshire, and the reality is -- neil: you don't think that -- sorry to jump on you there -- you don't think any one of these people become president, that they are going to try to find a way, i guess it depends if they get the house and/or senate with them, to do that, to go after a wealth tax because any other like marginal hike in rates isn't going to do it, to pay for what they want? >> so i'm skeptical there. i'm not certain. let me show you the difference between skepticism and certainty. think about it this way. how many presidential nominees that have won the election have

ever accomplished even half of the things that they promised they would do when they were campaigning? most of them haven't accomplished almost any of them because most of the things they said they would do, by the time they got the nomination, they stopped talking about. in the end, whoever the democratic aspirant is that gets the nomination, has to go to the public and compete for the center of america, and the center of america is not -- neil: all right. >> my guess a lot of this rhetoric now, by the time you get to the middle of next year, goes away and in fact, if you take something like sanders' wealth tax, you couldn't get that through congress if you had to unless you had the democrats take a huge majority of the house and the senate, then if you take sanders' desires, it's not totally clear that's constitutional. i don't take this stuff as you

just take what they say and accept that's what they do. presidents have never much done that. neil: it's hard after they get elected to -- if they get elected. always good to see you, my friend. ken fisher, multiple bestseller, so many books, so little time to talk about them. markets never forget, the only three questions that count, on and on and on. more after this. the dow up 157 points. interest rates holding their own. everyone watching as trish was saying, what happens in china for that 70th anniversary. i guess it's already tomorrow there. we're carvana, the company who invented

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neil: welcome back. i'm neil cavuto. you are watching the new and improved with retsin -- two people got that one. it's a play off old commercials. good to have you. we are up 157.5 points. this despite what would be a growing washington crisis or maybe the market's interpretation that it will not be a crisis. trish regan is still here with me. i'm very happy to see that, some confusion on my part. i apologize. they always call me gramps because you know the camera's on. anyway, we have 2020 presidential candidate, congressman tim ryan. he has been among those democrats calling for impeachment but he doesn't want it to come at the expense of getting other things done. he's a big advocate of walking, talking, chewing gum at the same time. there's a concept. the congressman with us now. sir, good to have you. >> hi, neil. how you doing? neil: i'm fine.

let me first get your take and trish and i will be chatting with you, your take on what is going on on the impeachment process. the administration says it's a waste of time, even some moderate members i talked to a couple last week, sir, who are concerned in districts that they won that the president also won, among the 40 who were added to the house to make it a democratic majority, that it could boomerang, that they look too zealous and they are concerned about that. are you? >> well, i'm not sure how the politics are going to play out. i don't think anybody does. clearly it's going to energize the president's base but when you saw our members who won seats last cycle, who won seats in trump districts, and who have a national security background or a cia background or a military background come out and say that what the president did was wrong and a bridge too far, and we should look at impeaching, they're in those swing districts so this is not the left wing, i know a lot of

people have been saying since trump got elected, we should impeach him. i wasn't one of those people. but this group of people that just came out, i think signals to the american people how significant it is what the president did and that we do need to act. he can't get away with this kind of behavior. trish: let me jump in. it's trish regan. there's some concern out there that democrats kind of rushed into this one, right, that they went with a whistleblower report which was frankly hearsay because that particular person was not actually on the call, and they went forward with this before even getting the memo of the transcript, before even looking at that, so there is some critics that are going to say they are once again overzealous and you have the overreach in this attempt. do you hear much of that from your constituents, concerns about that right now? >> well, not really. i don't think that quite honestly has any credibility, because you know, the left wing

of the party was really giving nancy pelosi a hard time for not doing anything and she held off and held off and held off, and then the president literally admitted what he did. he admitted he talked about biden. he admitted the conversation. so that was the signal for speaker pelosi to act and again, this should not be political. the president can't call up a foreign leader and try to get dirt on an american opponent. i mean, that is so ridiculous, it doesn't even make any sense and you know, especially after everything the president went through with regard to the russian investigation. so he knew better than anybody that this kind of action would trigger a good deal of action here in the united states and especially with democrats in congress, so it was very very foolish of him on multiple levels, and i think those critics don't have a whole lot of credibility because democrats did wait a long, long time before we did this, and the president obviously gave us

plenty of ammunition to use. neil: congressman, you are considered a moderate in this bunch of presidential aspirants. i don't know if that's a badge of honor or a problem, because to a man or woman, they are advocating higher taxes, you are open to that but now they are talking wealth tax, wall street tax, you know, that very creative ways to come up with more money for washington. not too many creative ways to sort of watch the money that's coming already into washington. where are you on this, and do you support some of these taxes that have gained, you know, steam right now? certainly among the elizabeth warrens, certainly among bernie sanders, we are told among joe biden? >> well, you know, we are watching an economy right now, neil, that is working for the people who make lots of money, and they just saw another tax cut, and i just want to take half a step back here. we have trillion dollar a year

deficits that i'm concerned about. i know a lot of other candidates aren't talking about it but i'm very concerned about the trillion dollar a year deficits that we have. but i look at this as, i have been in congress 17 years, i come from a pretty blue collar area. i look at this like i would look at passing a school levy. if you are a superintendent of a school or principals of schools and you are campaigning for a school levy, what are you telling the people you are asking to pay more in taxes? you are telling them how you are going to reform the system. you are telling them where you're going to make investments, where you're going to make cuts, how you're going to reform things. i think we need to look at this the same way. i don't think we should just go at rich people, and say we hate you and we want you to pay more money. what i'm trying to do is say look, health care is broken, we are spending two and a half times as much as every other industrialized country and getting the worst results. how do we move this system from disease care to prevention, to reversing chronic disease which costs us about three quarters of our health care costs, $3.5 trillion a year from chronic

diseases that are largely preventible. we now know things like foods and medicine can reverse those chronic diseases. so i want to reform that system. and we may need some more money but we will have a lot of savings there. how are we going the reform education? i'm talking about trauma informed care, social and emotional learning, getting mental health therapists in schools. my point here is manufacturing jobs of the future and all of that stuff. my point here is show the american people what the reforms are going to be and then ask everybody to help. some will help by paying more in taxes, some will help by going to school and becoming agriculture farmers or going into health care or into teaching. we are all going to have a responsibility here. the wealthy i think have a responsibility to help us fix these systems and that's going to include paying more in taxes but i don't think it's just hey, pay taxes because we want it. it's going to be here's the game plan for the future of america, and we need your help in order to do that, and some of you who aren't paying any taxes, you certainly got to start helping out.

neil: they got to put the cart before the horse or vice versa. right? all right. we will see what happens. congressman, thank you very, very much. meantime, oil prices are falling as the saudi crown prince is warning. >> if the world does not take a strong and firm action to deter iran, we will see further escalations that will threaten world interests. oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven't seen in our lifetimes. ♪

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neil: the good news is mortgage rates are dropping. the bad news, if you are trying to sell a swanky home. cheryl casone with more on a phenomenon i'm sure the well-to-do don't want to deal with. cheryl? reporter: they certainly don't. i am in beautiful bedminster, new jersey. i'm sure you know it very well. a certain little gloolf club is down the road. the jumbo homes that are $750,000 or up, prices for the first quarter this year fell by 1.7%. they ticked up a little bit in the second quarter but prices are being dropped like this home that i'm in in bedminster, new jersey today. this home originally, i will give you some of the details about the house, started out as a $6 million home on the market in 2017. 2018 they took it down to $3.95 million. now it's at $3.1 million. that is a nearly 50% drop for a home this size. we are in the kitchen and kind of the family living area but this house overall, 11,500

square feet. it's been renovated back in the 1980s, that's the last time renovation has been done but it was built in the 1920s. you've got 28 acres surrounding this property, beautiful property. you've got eight bedrooms, you've got seven bedrooms, eight full baths and four half-baths. that's 12 different bathrooms in this property. what these owners have found is that because of that salt deduction and the changes in the tax code, that's what changed the game, not just for these owners but many luxury property owners across the country, especially here in new york, connecticut and yes, neil, new jersey, which i know you know very well. the story was that luxury market, little bit of tick up in sales, but prices are really coming down. one quick example as i send it back to you. there was a home in los angeles, it was $250 million. they dropped it by $100 million out in l.a.

this is the story that's happening everywhere. but new jersey, pretty nice place. i see why you like it out here. neil: if you can deal with the taxes. thank you very, very much, cheryl casone. bill johnson is with us on this and other phenomenon. he of course the former heinz ceo. so much to talk about. i want to get into the china stuff but this is a bigger macro story, what's happening in places like new jersey, these high tax states, where you know, properties go begging. what do you make of it? >> just part of the economy we're in. i just heard your last guest talking about the wealthy may need to pay more. this is the way they're paying more. they own expensive homes, they aren't getting the deduction for property taxes they did, they aren't getting the deduction for mortgage interest they did. that's sort of the way it has to be going forward. i think that's a legitimate way in my view to sort of even the score of the states around the country and also to raise revenue without trying to attack people's income balance sheet.

neil: i remember when this was being bandied about and we were chatting about it, you know, the rich are not going to get away with murder. this was one of the things you were pointing out, especially when they were coming with this cap on how much mortgage interest you could write off. sure enough, in the high tax states, that's happened. but it hasn't been helpful to those states in terms of the money that they raise, because a lot of those same folks have left, even if they have to take a beating on their real estate. >> you know, neil, i was thinking this morning, i think i could train my dogs to be a politician just over a couple of days. you think about this, and the reality is higher taxes and people leave. you don't need an iq of more than 10 or 15 to figure out the correlation and do something about it but everybody wants their cake and eat it, too, so they're not going to address the problem and as a result, you are going to continue to see more migration into texas, florida, tennessee, washington, the states that don't have an income tax. and for the life of me, i cannot figure out why this is such a difficult concept to grasp.

neil: i'm with my colleague and friend trish regan. this is something you and i have discussed many times in various shows, this notion that if you tax it, people will abandon it. it has played out so many times. i remember when maryland had a millionaire's surtax and ended up raising far less revenue than they thought but it plays out again and again. >> i remember general electric saying who needs this. you have to -- our friend art laffer knows this well, you have to find this balance between how much you can actually get away with with taxes and at what point it really starts to affect the revenue stream, because people, companies will say all right, i don't need this, i'm going somewhere else. so states need to be i think thoughtful, especially in this environment now, because the salt -- neil: money can move. money moves. >> and with no longer being able to deduct state and local income tax? carl icahn is taking off for florida. it's not for the weather. neil: that's right. bill, one thing i wanted to

check with you. the other wrinkle for the uncertainty, if you're not quite sure what taxes are going to do, whether you are an individual or company, now as a company, you have the added excuse, if it is an excuse, the president says sometimes is overused, about this china stuff. you're not going to expand, you're not going to really boost your capital spending, you are probably not going to do a lot of hiring because you just don't know. i don't know whether that factors out to individuals who might not buy as much this holiday season because they don't know how all this is going to work out, but it is a cloud, is it not? >> it is, and you know, we have talked many times about how much business hates uncertainty. in my view, i would sort of proceed with any investments i was making right now, so i don't give my competitors a chance to gain extra leverage or to reduce some value enhancing growth potential i see, but there's no doubt that all of this stuff going on is not conducive to good economy, certainly globally. i think the u.s. economy will continue to do well but more importantly, it not only

introduces uncertainty, it does make one wonder what's going on in washington at times and whether or not anybody is paying attention to the rest of the country and the rest of the world. so i'm a free trader, as we have talked many times. i ran a multinational company. if you are a consumer products company in particular, china will eventually have the largest consuming population in the world and as a result, you need to be there. you know, i think the solution to this is just continue to push on, recognize that interdependence is a good thing for countries and it does help maintain the peace because there's nothing like enlightened self-interest when two countries trade between each other. neil: but the argument the president has used is that when push comes to shove, it's the chinese who need to deal more than we do. i don't know if he's right on that. you have been to china far more times. i'm wondering does that make sense to you? >> yeah, i think it does. i think over time, china does need this more than we do, but remember, they think in thousand

year terms, we think in four-year terms. so whether or not they need it more than us, will depend on, you know, how premier xi is being seen in the country and his level of concern about what's going on in hong kong, expanding to the rest of the continent. but nonetheless, whether it's good for them, bad for them, good for us, bad for them or bad for us, the reality is we need to get some kind of resolution to this to reduce the amount of uncertainty and to continue to allow this economy to expand, and like it or not, there's 330 million people in the united states. business would like to reach the other seven billion around the planet and so some mechanism has to be in place to allow that to happen. neil: all right. your decades at heinz, the food powerhouse with snacks and goodies galore, you never gained a pound. i don't know how that happened. >> thank you, neil. i'm not going to comment. neil: i will pursue it later on. thank you, my friend, very much. bill johnson, former heinz ceo.

it's true. i hate people like that. i don't hate, just envious. forget all of this impeaching talk. the markets are rallying despite it. charles payne was saying that last week, when everyone was fearing freefall. what's he saying now? we will ask him. ♪ -driverless cars... -all ground personnel... ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. no matter what you trade, at fidelity that's it. i'm calling kohler about their walk-in bath. nah. not gonna happen. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh?

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that's one of the things that the stock market is known for, being a harbinger of things to come. that's a traditional role it still loves ives up to. i just listened to your interview, you had a leading democrat running for the white house and he didn't sound very convincing on any of it, to be quite honest with you. i think wall street is taking it the same way. neil: trish regan is with me right now. that's kind of something you had said. right now they are hedging their bets and betting this doesn't -- >> yeah, they're figuring right now it's all politics. you have the democrats that are going to do what they are going to do, but unless the senate is willing to follow through, then it just becomes, yeah, little bit of a headache for him, et cetera. i think at this point in time, the market's saying okay, it's not a big enough deal. now, if we learn more, if there's more stuff that comes out, that could change and charles is right, the market will react very viciously and

violently if they think it's going to be a problem, but right now, they are saying okay, this will just be more political theater. neil: charles is a big never trumper and all that. you are a straight shooter, so let me get your straight shooter view of this. one has it it doesn't matter who the president is, if it looks like this is gathering steam, wall street generally doesn't like that, and that that's why they were very very concerned about bill clinton staying in office no matter what the transgressions were, because they liked the environment, they liked the market runup, they liked the millions of jobs, the economic boom and all that. they didn't want that disrupted. things are similarly strong now. they don't want that disrupted. right? >> wall street loves the status quo, particularly this status quo. one of the oldest sayings on the street is what wall street fears most is the unknown. if you start to push this to the point where ultimately it goes to the senate for some sort of trial, then that does create an unknown even though we know the numbers are in president trump's

favor, the dysfunction in d.c. has been one of the things that actually has not been helping the stock market. and i think people right now are more concerned about elizabeth warren's continued momentum. she's becoming a juggernaut and hoping that this goes away, that this kind of fades away like by the way, a whole lot of other things that were supposed to sink this administration. neil: yeah. look forward to the show. thank you very, very much. elon musk is unveiling a new mars rocket prototype. i want to volunteer charles for that first flight. after this. ♪ do you want me to go first or do you want to go first, brea? you can go first. audible reintroduced this whole world to me. so many great stories from amazing people.

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neil: the bigger issue is that you guys are targets. the very very wealthy, and that the way to correct this imbalance is to start having you pay not just a little more, a lot more. >> look, i don't mind being a target. better me a target than the guy or woman or family that's making $30,000, $50,000, $80,000 a year and grinding out and hustling every day. come at me. that's great, right? neil: i prefer go after the people who earn at least $1 more than me. not the opposite. >> in any event, i want to know where it's going. show me that you can be efficient. show me that you can get results. neil: all right. in other words, be as creative as you are with the spending than the extra money you want with that spending. it's not a bad concept on the right or the left. one of the top stories on our new website right now, lauren simonetti has been looking at what's clicking there as our new look ensues on a captivated united states of america.

lauren? lauren: it is a crisp and clean website. a lot of content coming at you in a very digestible way. look here. here's that interview, one of our top stories, getting clicked a lot today. your interview with mark cuban, specifically here is the topic of a bill advancing in california to pay students, athletes, college ball players, and if you click here, you get even more content underneath. by the way, what did you say to him? he seemed at mad at you in that picture. he looks annoyed. i also wanted to show you another story that's getting a lot of attention today. it's under the technology sector here. everybody is worried that a robot is going to take over your job and there's a report that in the next couple of years, by the year 2030, 20 million manufacturing jobs will be lost to automation. thises that's a lot of jobs. this report goes on to say you know what, think about it in another way. as we welcome artificial

intelligence and automation, we get more productive. we can find other jobs that can be created as an offshoot of that and wages could rise as a result. so some pretty interesting content here. this story again getting a lot of clicks today. back to you. neil: it's occurring to me, you work a very long day. lauren: i'm not done yet. neil: not at all. earning her keep, as they say. thank you very much. my buddy trish regan back with me now. you know, trish, it's interesting because billionaires can afford to pay more taxes. they will tell you that to a man or woman, they can. but they didn't get to be billionaires just willy-nilly throwing money at something. they are happy to pay higher taxes. warren buffett is famous for saying i should pay more in taxes, happy to pay more in taxes, but they want to make sure that money is well-spent. therein lies the rub for someone like cuban. >> i hhe had a really good poin. i like what he said, not going

after somebody who's squeaking by but he said look, i'm fair game. i just want to know my money is actually going some place. that's one of the things that we have recently gotten away from. the republican party i think historically has really been one of fiscal conservatism -- neil: you wouldn't know it. you wouldn't know it. >> accountability for where are my tax dollars going. you heard me talk about it, you're from new jersey, i grew up in new hampshire, the live free or die state. there was a saying there on both sides that whatever government has, government will spend. so as a result, i think both parties felt need to keep government on a short leash. you had to balance the budget, for example. it's in the state constitution every single year. we have lost our way on that. i think mark makes a very good point. i'm not entirely against the idea of this extreme, extreme wealth tax. it was something that the uk floated a few years ago and i thought it was interesting.

neil: it's how you get it, though. that crowd is very savvy with its money. if you think jeff bezos will write a check to the government for $9 billion every year under this wealth tax plan, i don't know. >> don't forget france, when they tried it everybody relocated and gave up their french citizenship. you would have that set of problems. i don't like them going after sort of the working wealthy as much. i think that that doesn't quite, these are -- neil: just accountability. it's not a right or left thing. show a little creativity about how you will spend the money as you do to getting the money. let me switch gears a little bit with you. out of the blue, elon musk comes along and we always talked about going to mars, many viewers have recommended that i go to mars, now elon musk comes along with a plan to start missions there as soon as maybe the next month or two, unmanned missions, i guess, then a year from now, manned missions. what do you think? >> would you go? neil: well, it depends whether

i'm pushed. >> my daughter wants to be an astronaut for halloween. she will be very interested in this story. listen, one of the great things about seeing elon musk and others in this space that is this is private money that's going to research something that is important for us as a nation, it's important for the world. so it's nice to see those dollars being spent. you know, the u.s. historically really has been on the forefront of space and we can probably do more. i don't like to see us not doing anything. neil: we have been hitching rides with the russians. there's got to be a better way, right? >> that musk and others have been involved in this. it's exciting, right? neil: yeah. if you've got the money to do it. it's a long trip. >> it's a long trip. neil: there and back. but you get younger, right? don't you get younger when you go into space? he's ignoring us. that's fine. many do. you get younger. good. let me get a sense of your show

tonight. debut of the new look. >> yeah. this new look is pretty neat. i like it, i like it. we've got steve bannon on the show. this is his first interview -- neil: you should do a time delay on that interview just in case. >> we are also going to be talking china, because china of course has a big celebration that's going to be getting under way, this actually as we go to air tonight at 8:00 p.m. eastern. you know, it's the next day there in china so it's the 70th anniversary of the communist party, chinese communist party, and he will have very interesting things to say about where we're heading with china and whether or not we can actually get any kind of deal done. that's pretty meaningful in terms of the trade picture right now, the markets, the economy. are we on the cusp of really getting something with china. we will get his perspective on that. i have marsha blackburn talking about the senate's role in this whole impeachment thing. we have darrell issa. we have mike huckabee.

neil: seriously, i look forward to it. thank you very, very much. we are all here for you. hope you like this. i get into this sort of stuff. but again, unlike trish, i'm a nerd. one of the things we just wanted to do is make it clear, i believe in talking english, i believe in just being super, super to the point and the numbers you see, get a nice marriage between our website and the tv product, we succeed in addressing some of the concerns you have raised over the years and we tried really hard to do that. if you like what you're seeing, you can credit me. if you hate it -- >> no, no, no! neil: more after this.

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neil: all right. this is where we stand right now. on this quarter here. it fairly flat on the quarter. these last three months, that will wrap up at the end of trading today. but it has been a boffo year for all the major market averages.

this slow quarter notwithstanding. double-digit advances across the board. only guy i know who saw that coming is charles payne. i removed the photos from this entire place, replaced them with mine. here he is now. charles: neil, at least you admitted that much. neil: whatever i can do. charles: good afternoon, everyone. this is "making money." breaking at moment we're near session highs. markets shake off two potential black swans. the fallout from potentially delisting companies in america. impeachment were dark clouds on friday. not so much today. we'll tell you what you need to know to navigate this session. for every 21 a clothing company is forever bankrupt. it expanded two rapidly. the he brick-and-mortar stocks were upgraded this morning. can there be winners in the retail ice