now, they are testing them. >> thank you. as always, did you try? >> yeah. >> thank you for joining us. ♪ >> middle-class tax cut, a very big one. it's got a long way to go. we'll be doing that, we'll be announcing that over the next 90 days. >> tax cuts 2.0. he intends to unveil a very big middle-class tax cuts within the next 90 days, or at least the plan for its. it could have the proposal released in april, just seven months before the 2020 election. just how big of a tax cut are we talking? got the numbers coming up. thank you for joining us. joining me on the panel today, steve, liz, gary and robert.

the president didn't provide specifics, here's what maria says she's hearing about all this. >> in terms of that tax cut, he's talking about potentially cutting taxes on those people making between 30 and $100,000 a year from 24 to 25%. that would be a shot in the arm. >> middle-class voters would go for it? >> i think middle-class voters would be show for it. most of the advantages went to the upper 20% of income people in the united gates. this would be something trump could kind of use as a lever against democrats who are talking about raising taxes on the middle class. obviously that is an unpopular idea but middle-class workers are saying wait a minute, we didn't get that much of a break so this would be a reinforcement

of the fact that trump is going after the voters. a lot of his speech was about the middle class. >> a couple of things, first of all, that is right, larry kudlow and trump are talking about reducing that 25% rate to 15, by the way, you remember at a rate that we cut the lower rate to 15% from larry always wanted us to get back but a couple of quick things from the white house is also interested in the idea that what i've been talking about, a business account that would be tax-free that you could put in your own stocks and that would provide much more universal ownership in the stock market which affects everyone forward support -- go ahead. >> you know i support that one. but what i would say, by the way, the last time it didn't work was during the reagan times. i like that as well.

i just have to go the other way. the last tax cut was supposed to be for the middle class. i think led this said it, the top 20% and the middle income workers are saying what about me? they're not talking about raising taxes for middle-class, they're talking about going back and redoing the tax reform that went to the top 1%. >> hold on a second, even the new york times said the majority of americans didn't see reduction in the tax payments to the government as a result of the tax cuts. >> correct. how much of it goes to government? >> i mentioned the fact that even the new york times agreed that most americans got a reduction. >> we know where most of it went. here's the problem, bernie

sanders called for people 29000 and up in income, trump is calling calling for tax cut, 30,000 and up, how are you going to debate that if bernie sanders goes into it? you have elizabeth warren, she goes into a debate and says it will cost 2 million jobs what donald trump was say my plan has 6 million jobs. i don't think there's a great case on the left right now and i think donald trump is going pretty good right here. >> this is all politics. what's at stake, blue-collar workers at play. so far, i've heard nothing from democrats that are going to make the voters turn out for them. president trump is doubling down. again, what he talked about, his speech was about all the things he's done about workers. reiterating it's a pro worker, pro citizen and profamily agenda. that's what he's selling to the

american people. by the way, they can talk about middle-class median incomes, $5000, the fact that everybody including lower income people got a break on the tax bill. his got a good story to tell. he is struggling to counteract it. >> the most important. >> was the cutting of the business tax rate. used to call that a big tax cut for companies but the idea was to make america more competitive. we have business tax rate in the world and now we are a little lower than the rest of the world and that's bringing jobs to america. why would you want to reveal that? >> to be clear, i didn't have an issue with cutting corporate tax rates. we spoke about many times. >> i agree, i like the idea of maybe democrats are saying, let's have a minimum threshold for the companies that make a billion dollars.

i want you to look at the headlines from today's usa today editorial, it says on the economy democrats should ditch the sky is falling pitch. the democratic presidential nominee had better have a good one for voters who might not like trump as a person but the they like the economy's performance since he's been elected. should they come out with a message like usa today? >> we should ditch the sky is falling definitely. we cannot have a debate with president trump on the economy without policies. this anti- trump type of political rhetoric is not winning. what's going to win is if we have our own policies that we think the "issue is" whether it healthcare or wages or whatever but i would agree with that headline. >> you should go with the message, he did nothing. but the regulatory effect of

pulling back on a lot of these things and the rhetoric of pro-business versus anti- business, all due respect to the president obama has been huge. i don't think that is going to carry and when you have 3.5 on employment and 67 million people off of welfare, i don't know how you counter attack that. >> there's another idea that somehow this is the new democratic way, that trump inherited this great economy. if he did, there wouldn't have been a president trump. the same people who three years ago said trump have a great depression now that it's good, they say he doesn't deserve it. if it was bad right now, they would blame it on trump but he doesn't get credit for the good economy. i don't get it. >> there is a profound negativity amongst left economists who work for president obama. they basically had the view that we could not get the 2%.

we could not reinvigorate manufacturing sectors no matter what we did. that's why they didn't like the idea of cutting taxes on corporations. obama occasionally walked at the idea but i don't think they saw a future in it. this administration is profoundly optimistic about what this country can accomplish whether -- by the way, he reminded everyone, we are still the biggest economy in the world. one of the things they have an advantage it is basically everybody wants to deal with us. >> there's a lot of vision in history coming here. but it's for against one. let's be clear, president obama did want a lower corporate rates. republican party who was running

-- you said at one time, thank you. we should be clear, it had to be revenue neutral. unlike this president, actually all these new tax cuts are going to pay for themselves. >> wait a minute. we have more tax revenue right now than we've ever had. that means the tax cuts did pay for themselves but we are spending, that's the problem. >> $367 billion deficit. >> you are right. he did pay for themselves. the point is, we have more revenue now than we've ever had before. that means the tax cuts paid for themselves. >> what i said, the growth is what mattered. we need to do what it takes to get america back working again.

look, i'm not going to apologize for that. it's been a successful policy. we do need to cut some spending. >> both republican and democrat side, i think on that we agree. new concerns over the coronavirus that's not just in china anymore. more americans are on high alert after the mysterious deadly virus made its way into the u.s. how worried should we all be? director of the national institute of allergy and infectious diseases, doctor anthony is here with everything you need to know. stay with us. ♪ as a caricature artist, i appreciate what makes each person unique. that's why i like liberty mutual. they get that no two people are alike and customize your car insurance so you only pay for what you need. almost done. what do you think?

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's foxbusiness alert, china is putting it on the entire city, shutting down the airport and all public transits in the city to the deadly virus outbreak. they are confirming one seattle man has been diagnosed, making him the first case here in the

u.s. has been reported, more than 50040 people have been affected in china with 17 purported dead. president trump addressing the threat earlier on foxbusiness. >> we have one person right now in quarantine and we are in great shape. the cdc has done a fantastic job. immediately caught the person and i think china is in good shape, too. >> you think people should be worried? >> not at all. this is one person out of tens of millions of people who travel. they just announced it yesterday and it's all taken care of. >> let's bring in a real legend, dr. anthony, director of the national institute of allergy and infectious diseases. it's an honor to have you here. the world health organization said an emergency meeting today they need more information before they can call the virus a

global health emergency but even though we don't like to incite panic in any way, it seems a little early to say it's all taken care of, no? >> we are taking it seriously. the question i was asked is should we be worried? i don't think this should instill fear in the american public but as health officials, cdc, department of homeland security and others, we take this very seriously which is the reason why we do the kinds of things we are talking about and why a person who did come back into the state of washington in seattle was immediately able to be identified isolated and put into isolation and now is doing quite well but still is in isolation. >> what about the fact that it's traveled so quickly?

starts in china and i have a list here, south korea, japan, taiwan, hong kong, united states and unconfirmed so far in mexico, it seems pretty darn quick. is that a big issue? >> it's the extraordinary amount of travel that comes in-and-out of china. it's not the function of the virus itself, if you look at the people who are infected and are in those other countries, virtually all of them have had their origin there. the two in thailand, one in japan and one in south korea, those are individuals that traveled out and have been there. is it it isn't a function of the virus but it's travel is so easy and it's easy to get around the world. that's really what that reflects. it's not just the virus. >> thank you for joining us. people writing scary stories

have likened this with the spanish flu, people dying relative to the people infected. i have to assume that his fear mongering and in today's world where we can quickly react to new instances of people being sick, we have much better control via police section places off, i can't imagine this out of control as some people are suggesting or am i being too optimistic? >> i think we need a perspective of history. this is a coronavirus so we know what the virus is. generally, it causes common cold intent to 30% of effort her respiratory infections. over the last 20 years, we've had first two and now the third instance of the virus jumping species, infecting humans and getting serious disease with a relatively high degree of mortality.

remember sars was very similar. it jumped species, infected people, there were about 8000 infections in about 775 deaths. we were able to control it very well by standard public health measures of identification, isolation and in some cases, quarantine. the same thing happens with mayors, the middle east respiratory syndrome which had about 2400 individuals and about 800 deaths. mortality is hi, the question is, it certainly does not spread as rapidly and easily as influenza spreads. so i think it's a bit much to be able to compare this to the 1918 global blue. i think it's much more comparable to compare it possibly do something like sars or mayors. >> if someone just said out loud

that a quarantine, a city of 8 million people and one of the largest countries in the world, when would it make you concerned that we should be concerned? >> i don't think the concern in the united states should be related to the actions taken by the chinese. i can't put myself there and figure out what the exact deliberations that made them do that but i think it was clear that since they see infections in other parts of china, beijing, shanghai, they wanted to stop that. their vision to do that was to essentially be travel. whether or not that is right remains to be seen. >> we have to go, i just have to ask quickly, china has been known to fiddle with their staff

before, do you trust what they are telling us about this illness? >> from what i can see right now, they are being much more transparent than what happened with sars. the cap the information for a while. it was embarrassing to them. they are really transparent now. they put the sequence of the virus on the public database right away. in that respect, they find transparent. >> it's an honor to have you here. thank you very much for coming in. chelsea gabbard, taking things to the next level after hillary clinton accused her of being a russian agent. president trump slamming hillary after she went after bernie sanders. >> hillary says nobody likes him, nobody likes her. that's why she left. nobody like her. ♪

hillary clinton versus the democrats today after hillary clinton was in the news for taking place at bernie sanders. 2020 candidate chelsea gabbard is referring to her as a russian asset. in october. >> she's a favorite of the russians. they have a bunch of bots and other ways of supporting herself are. that assuming they will give it up which she might not because she's also a russian asset. >> lawyers are saying clinton got exactly what she wanted by lying about chelsea. she harmed her political and personal rivals record reputation an ongoing presidential campaign and started the damaging whisper campaign based on untruths. so robert, is hillary hoping democrats will do that? >> i don't think it's one way or the other with her and chelsea.

this died five years ago. she was part of the bernie campaign. i think with the secretary saying about chelsea -- >> it's also bernie. >> i think this lawsuit with respect to the bernie, i think her and bernie have issues. it's not been remedied and she's doing a documentary. i'm glad she did that whoever the candidate is, bernie or anybody else but my guess, it didn't change the feelings about each other. >> i never want to see hillary go away because the more she's on tv, the worse it is for the democrats. how can she say with a straight face that bernie lost because people don't like him? let's face it, hillary clinton lost inch trump's raw right, she

lost because she doesn't have a likability factor where's her husband, i actually liked clinton but hillary, no. >> i think this is sad. i think hillary clinton needs to take a timeout, go home, with her wins in private. i think she destroyed her reputation. i can't imagine democrat are on board with this. republicans are just cheering all of this animosity in the democratic party. i think it's embarrassing for her. she needs to be quiet. >> i just want to mention hillary has updated her comments on bernie. the update. let me read that. i thought everyone wanted my authentic use! to be serious, the number one priority for our country is retiring trump and as i always do, i will do whatever i can to support our nominee.

>> you have hillary clinton who ran for president twice and has the clinton name and you go after two of the candidate running for president against somebody you want out in one of the candidates arguably is in the top two. all i know is throughout the years, i've heard in politics, tigers should not eat their young. it seems like that's what's going on here and for the life of me, i don't know -- >> there's another possibility. i want your opinion, hillary is thinking about the possibility of a broke convention and maybe if there's a brokered convention from there will be a place for without going through the whole primary process. what you think? >> i think that slim to none. there's a chance, i do not think she would be the nominee. i don't think she's raising her hands for it. i think it would be the person with the most delicate.

>> to say she's not going to be a voice of the democratic party, she's got 16 million plus votes. she got more than trump. she will be a voice. what voice she has is still unknown. >> unless it happens by accide accident, she had us thinking about doing this before hand, she knows it's not going to he help, why come out with this? >> .documentary on hillary clinton. that "rolling stone" is kind of a tell off documentary. she wants people to water. are we surprised people put out these things to watch it? >> attorney her reputation. that's what bill the bewildering. >> you're going to like this next one. they are now delivering their open statements.

andrew mccarthy will be joining us. ♪

happening right now, house democrats are making their opening arguments in the impeachment trial of president trump. this is the first of three days they will have to present their case to the senate. as in all on. one of the takeaways?

>> they are laying out their entire case right now. adam schiff in a marathon two and a half hour session, outlining how he believes the president abused his power for personal gain. >> first charging president trump abused powers of the presidency for foreign interference in the upcoming presidential election or his personal political benefit. second, president trump instructed in the impeachment inquiry into the abuse of power to cover up his misconduct. >> even though he said he has an overwhelming case, shift made the pitch to senators that he -- they need to have witnesses that democrats want. hunter biden or joe biden. there fishing for more documents from the white house to prove the president needs to be impeached. he says the president of prompted the investigation by firing any documents or people from testifying.

the legal team pushed back saying if the house managers have the ability to have all evidence, all witnesses they needed during their investigation, why would they need more? >> just went through two and a half hours going through his case. a mess he's making it up, he seems like he's got a lot of information. proceed with your case. >> starting today, each side has 24 hours, they are into their fifth hour of their case in the president legal team after those three days in 24 hours will have their own 24 hours over three days today out the rebuttal. >> andrew mccarthy, the plot to make an election. andy, adam schiff made a shocking comment today.

a lot of people talking about overreaching. let me play what he said and get your reaction. >> for precisely this reason, the president's misconduct cannot be decided at the ballot box. we cannot be assured the vote will be fairly one. >> in other words, americans can't trust an election if president trump is running. >> here's the problem. what we got this afternoon was a capable prosecutor who, at a time, is powerful, sometimes indignant, he laid out a case. the problem is, he laid it out as low as anyone can play it out. he designed the investigation, he knows every bit of it but he laid out a minor offense and he's arguing for the death penalty. when you have that kind of

mismatch between misconduct and sanction, what you are going to have throughout his hyperlink. they have to take the position because it's the natural question. why can't the sovereign from of the people decide whether trump gets to keep his job or not? why do we take this rash action of removing him? >> you can't even trust the ballot box. >> doesn't that have to be his position? similarly, he said toward the end that american national security threatened by the president. somehow, you're supposed to understand that whether or not we give aid to ukraine, which is involved in fighting with russia on its eastern border, somehow our national security hangs in the ballot from that which is about as lunatic a theory as you can come up with.

that's not to say it's a good thing or we shouldn't help the ukrainians but the idea that whether americans can sleep safely at night depends on whether they give ukraine javelins so they can fight the russians. it's crazy. >> americans don't care about what went on in ukraine. bottom line, this is nothing that impacts them. how can the democrats who are now in the process of basically reiterating something, not just when they delivered the articles of impeachment but also at the end of the investigation, it's like watching the same play three times. the outcome is exactly the same. i get it, it's a great thing. they haven't treated it as a grave think that this is a very bad precedent for this country. if i were a democrat, what do we do to do this up a little bit to

make this of importance to the american people? i don't think it is right now. >> i don't think they can because the thing that doesn't change here is the bottom line, nothing happened. ukrainians got there aid, so let's keep didn't have to promise any investigation. they can't change the basic facts. the most useful way to look at this is think about how different this would be if you had an actual impeachable offense. let's say muller approved this case, muller approves that trump is in agent of russia. we wouldn't have a trial right now. he would have had to revise. >> i wanted to hear every word. it just felt like i could have flown from new york to hawaii by the time it was done.

two and a half hours, it was just going and going after the first half-hour, it's like okay, enough. do you think they could have made it more compact and meaningful? >> they only have 21 -- >> i mentioned during our coverage, i include the case one time where they bomb the world trade center, product to bomb the thinking tunnels and the un had headquarters and conspired to kill the president of egypt. we didn't take anywhere near the time they are taking now. >> but things actually happened. >> well, i think for me, i didn't listen to that, i listened yesterday. i would vote for witnesses and seek documents.

the southern district, you think we should have them in documents? that's a yes or no. >> you don't get to ask me yes or no. [laughter] >> you are the only one to ask yes or no. you're going to get witnesses whether you should or not. mark you think so? >> yet but there's a big difference between whether it's existing or relevant. there's a lot of witnesses about things we already know. the aide, we know who's the third period. >> thank you very much. new revelations, the phone owned by the world's richest man, jeff pazo's act by the other than the

prince. how and why he may have done it. plus basals is breaking the silence in all of this. how he's responding. we've got details coming next. ♪

foxbusiness alert news today, breaking the news that eli manning their star quarterback who led the team to two super bowls, we seen your hand there, he will announce his retirement after 16 seasons with the team, he stepping away with almost every record in team history. congratulations. billionaire jeff basals out responding after saudi prince reportedly hacked his phone. bolton has been following all of this from the newsroom. >> there are numerous ones. earlier this afternoon, i want to show you what jeff bezos tweeted out from his own account. he was he on the screen. it's a photo from memorial of us washington first colonists. experts say there's a link

between his death, the public's reaction and jeff bezos phone being hacked. they are calling an immediate investigation into the crown prince's saudi arabia for exactly that reason outright saying he hacked into his phone. allegedly, they sent the militia file. in order to steal private information from his mom. experts say there could be many motives but the central one is influencing news coverage of the kingdom, jeff athos owns the washington post. the alleged hacking took place in may 2018, continued for months around the time of the murder of a columnist which was in october 2018. one source, the circumstances and timing of the hacking of surveillance also strengthen support from further investigation by the u.s. and

other relevant authorities of the allegations that the crown prince ordered and atomism minimum was aware but failed to stop the mission that fatally targeted him. it's no absolutely no gray area. a time when saudi arabia was supposedly investigating the killing and prosecuting those that it deemed responsible, it was planned waging a massive online campaign against mr. pazo's and amazon targeting him visibly in the washington post. their part in the report of the alleged hacking absurd and has called for an investigation. we will hear much more about this. >> thank you very much. what you think of all of this? >> there's so much to unpack here. you have washington post, khashoggi and basals getting packed in his personal wife

going to national enquirer and we can go on from there. the truth i have the most concerned about is the whatsapp. that's owned by facebook, that was supposed to be considered the best. they had a few issues early on, six, seven years ago. they now were supposed to be the best internationally, it's why people use it. this was supposed to be, i think it's going to make tons of business people that travel really nervous. >> i think that's true but i'm also very confused by this story. i don't know what the sound is expected to gain from hacking his whatsapp account. what are they going to find out? 's personal information is pretty much out there already. were they hoping to intercept messages? i think this is a really strange story, it doesn't make any

sense. >> they were clearly trying to contain khashoggi story in any way they could so you would think i had of the washington post for whom he was working would be a person they would want to hack. >> my reaction to this, jeff bezos can protect his privacy, who knows more about the high tech world than anyone, what about the rest of us? i think this is a privacy issue. i agree with robert once, the real story here is that these technologies that are supposed to protect our privacy are not working. >> we have to leave it at that. elizabeth warren calling this out again. global warming. we'll explain all the details coming up.

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2020 hopeful senator elizabeth warren is now demanding eight of the biggest u.s. banks share details and how they plan to deal with climate change pending a letter, quote to protect themselves in the economy from climate driven catastrophes, large financial institutions must act quickly to address risk. she's asked for detailed written responses by the seventh of february, robert demands justify. >> i wish she didn't use the word demand but before i was president, i was coo. one of the things that became important was what we called operation awareness. the idea with climate, the crisis we are looking at for infrastructure and things like that, yes. i think every bank is looking at how the impact of infrastructure impacts them. i'm not sure i would call it the

same climate crisis the way she's using and i'm not sure i would make it a demand for operational risk is part of the metric. this is kind of going to be common going forward. >> the big picture, she has talked about taking over, breaking up shutting down every industry, now demanding thanks to do this. what does she want to do? i worry about terrorism or bank robbers. worry about hurricane shows up, i just don't understand any of this and what this is about. >> i think she's exploiting her political reasons campaign reasons. the fact that there is beginning to be some legitimate and just, insurance companies, etc. about what a warming world looks like. i think the risk is more legislative and regulatory than it is climate. regulators around the world may start really putting the hammer down on fossil fuels and they

are doing that in europe. if you're a big investor, that could be an issue for you. i think this language about crisis and off back, i think it is overdone. >> they have not just elizabeth warren, it's many of the democrats who believe this is the end of the world. it worries me that as an investor, government is not going to be involved in faith make the same demands of google, facebook, amazon and not big banks. >> the roast first tax on banks, but driving controls, would you actually write in this thing? details coming up. ♪

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is ♪. david: into steering wheels, no pedals, no driving controls. general motors and honda joined force to create a new self driving car, they're calling it origin. some describe it as toaster-shaped robot taxi. gm says it hopes it will provide cheaper ride-hailing service for passengers. no word when we see it on the roads. cars without steering wheels cannot legally be on public roads. gary would you feel safe? >> i have two rules, never skydive, bunge jump. number three. not getting this without a

driver. i hope it never gets off the ground. >> i think eventually we'll have this. david: really? >> absolutely. this we have trains without steering wheels. this is the question. does it make toast. david: probably. >> not for me. maybe eventually. not today, not tomorrow. >> guys i live and work in washington, d.c. this whole ton drives without a steering wheel. >> that is so true. david: they all sit in the back seat. bottom line, steve, you're for innovation. liz was joking about the "jetsons," maybe that is the new world? >> liz is right. it is coming. i have driven in these driverless cars. you're terrified the whole time. maybe just having that steering wheel, even if it doesn't do anything will provide reassurance to people. david: gary, probably 1890s, if you told people their horseless carriage would be eventually driven by a motor, not horses, forget it. will cause too many accidents. it has.

>> left here, right here? that is the way to do it. human being behind it on -- >> i would take this one step further. i think there will be flying vehicles. we won't need roads. david: that is next. fasten your seatbelts. we'll see you. >> president trump arriving right now. air force one landed after showcasing the u.s. economy at the world economic forum in davos, switzerland. he is promising a big middle class tax cut. we have former advisor art laffer. i will show you how the democrat continue inflammatory accusations with no basis in fact. another vicious political brawl. in this one, dem versus dem.