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tv   Varney Company  FOX Business  November 5, 2024 10:00am-11:00am EST

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stuart: waiting for tonight. i guess we are all waiting for tonight, jennifer lopez. it looks deserted. it is tuesday. it is election day. good morning. it is 10:00 eastern. let's get straight to the
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money, looking at some green, increasing amount of a greenwood half an hour into the trading session the dow was up 230 points. the nasdaq composite is up better than 1%. on election day. the 10 year treasury yield is going up. the market is going up as well. the 10 year is at 4. 34%. the price of oil not much change, $72 a barrel. bitcoin looking at 69, almost $70,000 on bitcoin. latest read on the service sector justin. lauren: prices falling from september to 58. one in october. stuart: music to markets years. that's why it has gone up recently. now this. every four years the pundits say this is a groundbreaking history making election. this time around it really is. there is a stark choice, the
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candidates offer different visions how america will be governed, very different people. after four years of kamala harris or donald trump america will be a different place indeed to. harris is a government person, big on regulating and using government to move society in a virtuous direction. combating climate change, for example. trump is a business guy. he sees regulation and government bureaucracy as stifling. he is the antigovernment guy except when it comes to controlling the border. how about money. another stark contrast. harris is tax and spend, trump is tax cuts. he would use elon musk to weed out the waste in government spending. foreign policy like day and night, harris is for peace almost at any price, taken as a sound of weakness. hard to reverse that image, trump has never been accused of weakness, the rest of the world would have a different view of america if he wins. this election has global implications. of kamala harris is elected she
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would be the second black person in the first woman to be president. and four months she would go from obscurity to the oval office, remarkable comeback. if donald trump is elected, one of the greatest comebacks in history. in 2,020 he was written off. now he is back. this is a consequential election. after four years of either candidate america's government will be very different. this is a good time to bring in bret baer who along with martha maccallum will anchor fox news coverage all day long. consequential election. when do we get results? >> great question. we will know a lot early. we have a bulletin that, one hundred thousand voters, rolling paul over seven days, started last week, goes into today and as they are leaving the polls. if of that number, all those stats match what we see in the
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vote total coming and then we know we are on the right track and our predictions based off of that. georgia, north carolina will come in early, michigan is a fast state. we will have a picture early in the night of our stuff is matching. stuart: take us through the path to victory for both candidates. what is trump's easiest path to 270 votes? >> pennsylvania is key for both of them. if trump wins he has a 92% chance of winning. if he wins pennsylvania. so that is why you saw kamala harris five stops yesterday in pennsylvania. they sense it may have been slipping in recent days, the harris campaign which is why the five stops. if she wins pennsylvania, trump has a number of paths. her paths get a lot better if she wins pennsylvania. it's that much of a crucial state. which is why a lot of people are saying why didn't she pick adam shapiro.
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stuart: am i right in saying if the trend either way is a landslide for trump or landslide for harris you will know very quickly tonight? where this is going? >> yes. if harris wins georgia and north carolina we can see that, it's going to paint a picture for the rest of the night. if you look at the real clear average polls it is so tight in all 7 of those battleground states. if they shifted one way toward harris she could win six of seven. if it shifts one% the other way he could win 7 for 7. we could be in a situation where we know the result tonight or it could be a situation where we don't and it takes a long long time. it will be at least all the way for her own no matter what. blue and is this the most exciting election in your long career? >> this is the ninth election cycle in the anchor desk taking
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over from britt hume. it is the tightest. a lot of people will be tuning into every iteration. bret baer, great guy. alexandria ocasio cortez, according of a hispanic vote. lauren: latinos, kamala harris showed up with aoc who is puerto rican and they went to a puerto rican restaurant in reading, pennsylvania. they were hoping enough people would be insulted by the comedian the called them garbage out at trump rally. the polling shows latinos top issue is the economy and pennsylvania is a fracking state. aoc introduced a bill, if it passed would have banned all
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fracking anywhere in the united states by 2025. stuart: it is election day in the market is rallying, why not? lou basensase, the election, do you trust the polls? >> i don't. as an investor i'm a contrarian. when i see an improbable tightness between all these polls no matter where you look. it is consistent with what we have seen. too many levers for adjustment. look at the outlier, 40 footnotes to the polling tactics they used to get those numbers. there is no reward for being the outlier, someone has a wider margin versus another. it is also the enemy and the downside to statistics. talking about 100,000, that the sample size.
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there sampling bias. for me as an investor, professional better, something is off. stuart: don't say you are a professional better, there's a difference between investing and gambling. under what circumstances would you sell stock? >> i would take the profits. this is the pinnacle, by the rumor, soulful news. whether he wins or not whether it is representative of the top, it's a vote for trump. bitcoin and the energy trade, campaign promises are diametrically opposed to what happened in policy. it's it a lot easier to promise something than to get -- i would be really concerned for unilateral win. stuart: would you be concerned if it was a harris sweep? >> i would.
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investors care more about the election being over than the outcome because investors hate uncertainty. harris wins, you have to adjust valuations, higher corporate taxes and higher corporate gains taxes, traditional energy will come under extreme renewable energy, tactical moves, we are well diversified, my beloved apple, you don't have to make a move over a single outcome. there are things that we can't predict. what if the fed cuts by 50 basis points. those are not situations i put the portfolio when. betting on the outcome, individual events, really nervous about it. stuart: i own stock, blackstone. check me through the movers, wind down 7%. >> and revenue estimates.
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stuart: astarea labs. >> they can build out there ai and cloud infrastructure. strong earnings, razor guidance, stock is up 28%. ipo in march. $36 in march to 89. stuart: luxury cars went down. 2% fewer supercars, luxury market is slowing down. stuart: now we tell the audience what is coming up, gives bret baer, to go to some real work on fox news. thank you very much, still had, elon musk giving his final election warning on the joe rogan podcast. >> go out and vote, vote like your life depends on it because it does. just the last chance.
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stuart: is it that serious? barstool sports guy dave portnoy, john thune may be the majority letter. what is the first item on his agenda. van jones not a fan of harris's star-studded final rally. >> a big star-studded event. i don't want people knocking on doors, i want people out there, i was nervous nervous nervous. stuart: should democrats be nervous. kayleigh mcenany is with us in the studio emerging from the sidewalk. coming up behind me. ♪
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stuart: do you see some green? 260 points, the nasdaq up 176. no caution with investors so far this morning, netflix, investigators searched their offices in france and netherlands, part of a preliminary priority, no impact on stocks, the polls are open in georgia, record high early voting good. in snellville, georgia, when will we get a result? >> reporter: i can tell you those results are coming in sooner rather than later because the peach state is diving straight into election day with early voting records broken. 4 million people have already
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voted. a major reason why the georgia secretary of state says this count will be quick. he suggests 70% of the votes will be counted by 8:00 pm tonight. you are looking at video inside the voting site behind me right now. it has been a slow but consistent morning at this voting site, 1.5 million people are expected to vote in person today across the state. historically georgia works quickly, 95% of ballots work out that on election night in 2020 and this is a race for 16 electoral votes in a state where biden won by a slim margin of one. 2%. that a little over 's a little over 11,000 votes. this is a no automatic recount provision in georgia so the losing candidate may request a recount of the margin is less than or equal to 9% of the total vote. they will include mail in ballots and early voting.
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it could indicate an early lead creating what is known as a mirage. this is net in the, election night in atlanta hosting a rally, both presidential candidates spent the weekend trying to grab last minute voters in georgia at 7:00 pm. long way to go. stuart: thank you. what van jones, star-studded pennsylvania rally and concert. >> in 2016, a big star-studded event. working people sometimes have to choose or drive the other way to get to the polls. they don't, i can't, to help us win.
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probably helped us lose last time. i don't want people -- i want people knocking on doors and fighting for this thing. i am nervous nervous nervous. stuart: we are rolling out all the stars on the show today. another one onset this morning, kayleigh mcenany, should democrats be nervous? >> van jones make the point, that is someone who said don't underestimate trump. he has his ear to the ground, i wouldn't be nervous if i were trump. anything could happen, most polling estimates show it 50/fifty. at the coin toss, photo finish. however, donald trump leads in the early vote in arizona and nevada and north carolina and georgia. two of those states, republican did not have a lead four years ago. stuart: do we know that? we don't know how they voted. neil: we know party identification. could there be nikki haley veterans? there could be.
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we also don't know about the independent vote, that could go either way which could shift the entire calculus. there is so much unknown. i would feel good if i were trump based on the early voting late polling. stuart: the concert idea. singers, entertainers doesn't work as well as trump getting out and addressing the crowd. >> i'm watching trump's rally in pittsburgh nancy guys in hardhats, these are individuals who defected from their unions that endorsed kamala harris and you can trust that with these celebrity's, looking at net worth, 3 billion, 1.4 billion, huge net worth and it is out of touch. is that a deal breaker? i don't think so but the days of beyoncé chose this way so i choose this way are days of the past if they ever existed. stuart: i remember mark cuban saying he doesn't surround himself with strong intelligent women.
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here's a chance to refute that because you, donald trump's protect their show some strength and intelligence. >> i appreciate that. when i heard this it rolled off the tongue so easily. he apologized. he said afterwords a declarative statement emphasizing, thought to himself why did i say that. i thought about the people i worked with, hope hicks, sarah sanders, all the intelligence from yvonne cut trump who change to the republican party saying let's be the party of paid family leave and tax credit, they are not strong intelligent women, if that's your assessment of those of us who worked around him what is your assessment of the female trump voter? stuart: you said it all. thanks for taking time, working all day and all night. >> i was excited to be here. whoopi goldberg tells us who she wants to see as harris's attorney general.
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>> you could be a great ag. stuart: is this a preview of the bipartisan harris cabinet when it looked like that. patrick marhomes's mother wore a mag i hat last night. >> make america great again. >> taylor swift was in attendance. she had skipped to the harris rally. barstool sports guy at swifty dave portnoy tells us about it next. ♪(voya)♪ there are some things that work better together.
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your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. our advanced matching helps find talented candidates, so you can connect with them fast. visit indeed.com/hire stuart: a lot of green, the dow is up 376 points and the nasdaq up 200. it is election day. lou basensase is with us. what does it do? >> regardless who wins the white house we need better
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utility grids, more power to fund ai. smart meters, electric and water utilities and double-digit growth. everybody thinks boring and underperforming but this is the top performer up 50% this year. the company has a lot of room to run. stuart: 50% up this year. >> last time it was up 30%, this is one of those momentum pays. >> they can since to lead deliver and get badmouth. and apple is always late. from laggard to leader, that happens with ai. and incremental revenue and
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profit growth. it will be the next market cap company? i truly believe that, skip $4 trillion. it is going to make it to five. i do not believe this is a company you can bet against. tim cook took the helm in august 2011, stocks of 1200%. stuart: you made your point. thank you very much. and do we know how trump is feeling this morning? >> cautiously optimistic. we are inside a rec center in the city of palm beach where we expect the former president of vote this morning, he had a night last night, picked up a late endorsement from joe rogan, has 18 million youtube subscribers and multiple campaign rallies including what may have been his final rally.
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this is the scene in grand rapids, michigan and a midnight rally that went into the early morning hours. the same area, same city where trump finished his 2016 campaign, superstitious guy, 2024 there as well and that is where he made his final pitch to voters. >> this isn't my campaign, this is a great campaign, now it is 9 years and we've been fighting side-by-side every step of the way we had been together. >> j.d. vance voted in ohio, video are short time ago of visiting the polls, the senator was crisscrossed, multiple battleground states, vance says he's feeling confident today. take a listen. >> we expect to win.
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no matter who wins, half the country will be at least partially disappoint. my attitude is the best way to heal the rift in the country is to govern the country as well as we can, create as much prosperity as we can for the american people and remind our fellow americans we are all fundamentally on the same team however we voted. >> the first two states the trump campaign is keeping an eye on tonight when polls close are georgia and north carolina. georgia closes at 7 p.m. eastern, north carolina 7:thirty p.m. eastern, those are the first battleground states, a bellwether to see how they are doing in crucial states. we sent it back to you. stuart: elon musk sat down with joe rogan, musk says this will be the last election if democrats win. >> this election is the last chance to preserve democracy in america. mark my words. everyone may accuse trump of,
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they are guilty of. if the democrats win this election they will legalize illegals to turn swing states and everywhere will be like california. there will be no escape. go out and vote. vote like her life depends on it, vote like your future depends on it because it does. this is the last chance. stuart: we need dave portnoy, you have an opinion. is that life and death? is it that serious? >> no. i don't think it is. it is serious. i feel like every time you come to an election, more than in the past but four years ago similar. i don't think it is the end of democracy in his case trump loses, it's a big election. every election is began heightened, this was a nasty campaign, the divisiveness of the country heightens it but no. i don't think it is the end of
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democracy if the democrats win. i don't think so. stuart: compare the two. is america going to be a very different place if trump wins or harris wins? are we in for big change regardless of who wins? >> great question. i don't have a answer. it is still, you have two parties and have to get everything approved. what elon was alluding to is underhanded, subverting democracy which is something trump and his supporters say happened, may have to a degree. i sometimes think there is not as much change, just can't happen because of the stalemate between the two parties but you never know. i don't think it is gloom or doom. it's an important election but i don't think it is as gloom or doom as maybe that soundbite made it seem. stuart: patrick mahomes's mom endorse trump for president.
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>> make america great again, let's do it. stuart: patrick mahomes refused to endorse a candidate. what do you make of that? >> people should endorse whoever they want. it is crazy we live in a world where even the maga hat is so controversial. it is not that controversial of a statement. people should endorse whoever they want. i don't believe it carries as much weight as people think it does. rogan with that endorsement last night, i would hope most people have made up their minds as we approach election day. and aren't going to be swayed by a podcast or, myself, taylor swift, whoever. you should study the issues. pretty sad state of someone is like joe rogan said this or patrick mahomes or taylor swift, hopefully we are better than that i've out think much of it happens.
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we went taylor swift attended the cheese football game. she skipped harris's star-studded concert in philadelphia. you are a swifty, you think she should have been at the harris event? >> she does what she wants. taylor swift and i are the perfect example of perfect americans. we are on other sides of the aisle. i am voting trump, she's publicly voting kamala. i went to her concert, she wrote me a handwritten letter delivered to me saying thank you for the support over the years. we have our differences, you have always had my back. if more americans were like taylor swift and myself will we would be holding hands singing kumbaya going down the street. taylor swift and i should run together. we would wipe everybody out. stuart: my prompter says you just met taylor swift's mom. is that accurate? >> he gave me a big hug. i went to the concert. her brother delivered me a handwritten letter.
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i met her mom. we hugged twice. they were very appreciative of the support. model americans. on a serious note, my biggest worry is regardless of who wins, people will point at each other and i want trump to win. i'm voting trump. i don't think kamala will do a good job. if she wins, i hope she does do a good job. i'm not going to sit there and be like you stink. i will root for her to be the best president we ever had regardless of who wins. as americans you should want the winner to do well. stuart: what is it about trump other than policy decisions, what is it about him that makes you want to vote for him? is it his style? his energy? what is it? >> a couple things. almost an anti-democratic vote in a lot of respects. i think what they did with the primary and vote fact they waited until it already happened to get biden out, didn't let people vote, i hated
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that. i don't like that kamala hasn't had an answer what would you do differently than biden, says i'm part of every decision but then we want to turn the page, that makes no sense, their campaign makes no sense and i do think the left is still very woke. i think there's an element of hard work, success and things like that are almost frowned upon now. i think trump and the republicans still stand for that. their stuff i don't like on the right. i don't like the direction of the coun the border, the middle east. not the change that kamala says. she says she's the last person in the room for every decision. i don't want that person in the room anymore. stuart: thanks very much for taking time to be with us this morning. trump is bringing in different people to his campaign.
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in appearance from hulk hogan, and a lot more. are we looking at a new type of political leadership? vivek ramaswamy on that. oprah winfrey leaning into the fear mongering to turn out the vote. >> it is entirely possible that we will not have the opportunity to cast a ballot again. stuart: ever cast a vote again? do people really believe that? michael whatley is next. ♪
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stuart: look at djs he up 14%. that the proxy for support for
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trump implying support for trump is strong, dj t stock up 14%. look at the dow, the s&p and the nasdaq rallying across the board, up 340 points for the dow, one hundred 88 for the nasdaq. not going to call it the trump rally but trump's dj t standing is helping of a market. caterpillar, unitedhealth, microsoft, american express, dow stocks, together, they are adding 215 points to the dow industrials, state and federal courts bracing for put up possible election legal challenges. david spunt with us. there have already been a number of lawsuits filed. >> reporter: tons. we expect those lawsuits to continue. pennsylvania continues to act as the epicenter for election related lawsuits. early ballots cannot be opened and counted until election day. officials want to set the expectation that pennsylvania
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is one of six states that don't begin counting early ballots until today. officials say a delay and results does not mean anything nefarious is taking place and are stressing patients as the process plays out. a judge in pennsylvania yesterday ruled that elon musk can continue his one million dollar giveaway to people who signed a. supporting his first and second amendments, the district attorney said was an illegal lottery. musk accessories amount to free speech, it continues. down to georgia thousands of voters who mailed their ballots late were told yesterday to vote in person or get their ballots into the county elections office by 7:00 p.m. eastern. previously there were given an extension that no longer exists. the election command center in washington dc yesterday we took a tour in this nerve center where 80 people will be
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combating any election security threats including cyberhacks, attacks and posts on social media that may be a problem. >> we are not looking to monitor social media. when information is threatening and rises to a violation of federal law then we have to take action. >> the fbi has a close watch on threats from russia, iran, and china in this election and months and weeks ahead. stuart: oprah winfrey joined the kamala harris at last night's star-studded concert offering one final warning about trump. watch this. >> if you are watching or hearing me right now and haven't already, you have got to vote. we don't get to sit this one out.
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if we don't show up tomorrow, it is entirely possible that we will not have the opportunity to ever cast a ballot again. stuart: michael whatley, chair of the rnc. might never have a chance to cast a ballot again. is it really that serious? >> i don't think so. i think that is a responsible language and fear mongering. america has always been strong it is always going to be strong. we have this opportunity today for every american voter to go out and cast a vote and decide if this country continues to be strong or whether we will continue down the road of weakness and failure the kamala harris has let us on over the course of the last three years. we when you feeling strong? >> cautiously optimistic and we had a fantastic early vote period over the last several
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weeks, every single battleground state, we've seen very high turnout for republicans in early mail-in ballot periods, puts us in a good position to win if we have a strong turnout and we expect to have a strong turnout today. stuart: see a strong turnout so far i believe lines of the polling stations and republican areas, that adds to your confidence? >> it does, donald trump has worked tirelessly down the stretch, we did four rallies last night, three of them on friday, three of them on saturday, three on sunday. he has been crisscrossing the country working with battleground states and talking with the voters directly, talking to them about the issues that they care about and making sure they understand he is going to make america strong again, he will restore the southern border, rebuild our economy and ensure that we are strong enough to protect our interests around the world. stuart: i think you got it all right there. thank you for joining us,
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appreciate it, hope you have a good day. still had, in november of 2,015, i was sworn in as a newly minted american citizen. i had been paying taxes for 40 years and now i wanted to vote. i felt politics was in a rut, we needed something new and we got it with trump. that's "my take". brian kilmeade asked pete buttigieg about the ev mandate. >> don't think china took the lead? >> a mandate to tilt the playing field. of someone wants and ev they should be able to get it. be one brian kilmeade with more on that contentious interview next. ♪ ♪ no. i can do some research. ya know, that's backed by j.p. morgan's
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it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. stuart: the markets up across the board. this could be a trump rally. it could also be a market rally because some investors think we are looking towards divided government. that sometimes helps wall street. dj t up sharply.
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kilmeade joins us. you had a confrontation with pete buttigieg this morning. here's what he had to say about trump's tax policy. >> the fundamentals of the differences in economic vision. he will do tax cuts for the rich and he will do this import tax, this tariff, $4000 for typical family. >> is looking to continue the current tax -- >> of course he is. >> the people that benefited most from tax reform of 2018 where the middle class. >> the benefit proportionally went to the wealthy. of the economic promises he made, he broke most of the. he broke his promise to do 6% economic growth, his promise to do an infrastructure bill. stuart: it really annoys me that they keep coming back to this, trump's tax cuts only benefit the rich. that's utter nonsense, glad you took him to town on it.
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>> people accept it because he is rich. they assume his billionaire friends, last time, everything is changed, talk to any pollster. republicans are no longer the party of the rich, everything is switch, the blue collar people, the pittsburgh automakers, the city behind him, steelworkers, that is the party of donald trump. after seeing it for four years, not because those billionaires are not allowed to drive on driveways they can't get through the gates to get to are benefiting. the corporate tax rate was reduced to make america more competitive with other countries, not to make jpmorgan payless rent or give their ceo more revenue. it is to allow them to grow and be competitive and bring businesses home which stops
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sadly because of the pandemic but reignite again, ford and if it goes to 21. you know better than me and so does everyone what that would do for business. why would we go to the worst when we are in the upper third right now? stuart: with trump tax cuts, everybody got a tax cut, the money that pushed into the economy stimulated extraordinary growth which benefited everybody. minorities especially. they never point that out. >> the other thing, the people that lived it don't need us to say it. they don't need the mayor of south bend to tell them what happened the. they lived it. they know the average car is now $47,000, it was 40. they know everything they pay is 20% more. the debate is about why.
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you can't deny everything is more. you can't deny that a mandate is pushing people into electric cars into making it harder to build combustion engines, dealerships forced to sell these electric jeeps nobody wants. the ford lightning, the pickup truck stopped production. no matter how much money you give people they don't want it yet. if that's your decision, great, but don't put your hand on the scale and not expect automakers to be angry. stuart: you can't ignore the cost of the green new deal. if elected she's going to spend another $3 trillion on the green new deal and that's wasted money. they never point that out. >> what's worse is the inflation reduction act. at least have the guts to name it what aoc did. they did it and laughed when we
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set it doesn't reduce inflation. you know who signed on to that? the vice president had the deciding vote on that, taking credit for the additional leases, joe manchin, where oil and gas made sure of that. tell us who you are. and if you get the job, we don't know what to expect. stuart: thank you very much, we needed that.it out. kilmeade is all right. thanks very much. want to thank you for staying with us, thanks a lot. still had, steve hilton in the us presidential election for the first time, telling us what that means to him. senator john thune would be the majority leader of for publicans take the senate. what's the first item on his agenda, we will ask him. if abortion really will be
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driving polls in large numbers and other trillions of regulatory cost under the biden administration. jimmy faila on election day. the 11:00 hour of "varney and company" is next. your best defense against erosion and cavities is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities. i think that this product is a gamechanger for my patients. try pronamel mouthwash.
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ah, these bills are crazy. she
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