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♪ ♪ ♪ stuart: i like that. it establish as certain rhythm for the show. it gets you going. lauren: the voice of a you. stuart: yeah, he was popular in the 1960s and later on. 11:00 eastern time on monday, dieses 26789 show me big tech. it's a unified picture and microsoft top of the list up $7. wonder what happened there and 431 and amazon up, alphabet up, apple, nice gain. nvidia up as well. plenty of green on the screen. 10-year treasury yield is up a little today but down from where it's been last week, 421 as we speak. now this, what exactedly is a

fair share? how much of your income should the government take? a third? a half? the left never says what is a fair share. they just always want more. new irs data shows extent of unfairness and top 1% of income earners pay 40% of all income taxes yet they earned just 22% of total income. in other words, the tax they paid was double their share of incomes. is that fair? no, that's not fair. according to senator sanders and warren, they wanted to take even more. they had the top right from 37% now 2,039.6% more and what you've seen is the politics of envy. of jealousy. throughout the presidential campaign and first joe biden and kamala harris insists they just weren't paying enough and they blamed a top line of hardship and middle america was

suffering. it's no so rich and it's growth and that's what trump is offering. elon musk and vivekroom to shrink the blow to burr rock say and cut -- bureaucracy and cut costs and that's the plan. what the democrats really want is appeases of the stock market action and they see the rally and know millions of people made serious money. that's why they tried for wealth texas. designed to take your stock profits whether you made the money or not. they lost this time around but they'll be back. the problem with socialism is that you run out of other people's money. so true. third hour of varney starts now.

bringing you steve forbes on the set for me in new york what would be a fair share of your income for tax. >> it's very telling and the real rate is the flat tax and second line and send it in. they want it all. not just your income but also assets as well. they don't like prosperity and socialism means misery and margaret thatcher got that right and unhappiness versus happiness and look at socialist countries and see it there. stuart: dismal. you like the idea of a flat tax, don't you? >> single weight system throw the whole code and say bury but epa not allowing something sotaxic in the soil and replace

with a single rate and generous exception going for the kids and i had a proposal where a family of four, their first $53,000 of salary free of federal income tax and 17-cents on the dollar above that. imagine what that would do to the economy. we spend $4 to $600 billion a year and hours in cash complying with the code. imagine you've got rid of that and freeing the economy of 2-$300 billion a year and spend complying with the corrupt code. stuart: would it bring in more money? >> far more because of greater economic growth and price on productivity, success, risk taking goes down and that's how you get prosperity and take the burden off and people do more. works every time and after 4,000 years, some people have a hard time learning that lesson. stuart: could you convince voters what we have now is a very progressive tax, more you earn the more you pay. could you convince voters to reverse that? everybody pays the same rate. could you do that?

>> absolutely. people know it's corrupt and it's incomprehensible and irs don't know what's in the thing and 16 million words is the last number i saw and utterly incomprehensible and people across all lines and race, income, geography, they love it. imagine spending five minutes online doing income tax return. done, over. household pets would be safer. they wouldn't have angry owners around. stuart: takes congress to do that. that. >> having elon musk behind you, he'll find ways to get people to go along. stuart: senator ted cruz is defending trump's tarry plan. he says -- tariff plan saying it gets results. watch this. >> i got to say, you look at threat of tariffs for mexico and canada and immediately produced

action and seen the president of mexico stand up and promise that she is going to work hand-in-hand with the president of the united states, president trump to secure the border. this is about using leverage to get mexico and canada coop cooperating. stuart: does the dollar need defending at this time? >> we're the only ones that can defend the dollar by having a vibrant economy, a federal reserve that realized we should have a stable dollar. that's a big fight that will come up in trump's first year. the federal reserve mis-begotten policies and we're the ones in charge of the dollar. almost saturday night skit cpi brazil and in the russia ruble will replace the dollar. it's almost a bad joke. stuart: it is. not very funny as a matter of fact. quickly back to the markets and we've got a split decision. the dow is down 157.

looking at big -- i want to say the nasdaq, that's up significantly at this point. 1 f 1 points up and dow is down 6 #*, very much a split. jason katz joining us this morning. jason, is the trump bump taking something of a pause this month? >> yeah, this year you're not going to see any draw down in the past year. >> yeah, my clients are not selling capital gains and the professional money manager, i'm not selling because i don't want to fall behind in the s&p. in the new year, it's not a surprise to get a breather and as investors, we desire clarity with respect to these tariffs and i really do believe like ted cruz said, we'll get that clarity and we do expect the markets to take a breather in the beginning of the year,

however, shortly thereafter, we think the market continues albeit a more moderate pace. stuart: selling january of next year, six weeks from now, you can delay paying the capital gains tax for another year, can't you? you got the money and you've got a year to use it before you owe the capital gains tax. that's the feeling here. >> i mean, at some point the piper has to be paid and access to your own money over longer period of time and obviously it's going to work for your. stuart: give me an example of those. >> well, boring is the new exciting whether it's utilities or natural gas or nuclear or dare i say coal. they're going to continue to outperform when we were onset the other day, talking about

insatiable demand for electricity and breaking at speed 30% a year. there's no data center capacity so as all these centers are built, what do they need? ironclad power. they need backup to that power. they need backup to the backup of that power. the whole ecosystem in energy and electricity stands to benefit here. stuart: that is a growth area. jason katz, sorry we're short on time this morning. we'll bring you back real soon. thanks for joining us. going to supply amazon products for their data senter and cloud infrastructure and going for about 2% and that's last friday and e commerce on amazon and going to be 18% of all sales that day happened on amazon. it's cyber monday and getting a lot of money.

lauren: they're down and cutting to sell on valuation and both up 90+% this year. stuart: incoming border czar, till they return to the white house. they're not stopping till trump gets in office and till then, cartels are a bit more sneaky with smaller groups. >> sheriff thadeus cleveland telling us what happens on the border. kash patel for his crusade on the deep state. kt mcfarland targeted by the

deep state forces and telling us if she approves for the pick for fbi. she's next. ♪ what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like ai. and how the industries born to support ai might better support us all. better questions. better outcomes. to go further, you need to be ready for what's down the road. as energy demand continues to rise, we're harnessing breakthrough innovations to increase production in the u.s. gulf of mexico. our latest deepwater development, anchor, produces previously inaccessible oil and natural gas, allowing us to deliver the energy we all need today so everyone can follow their own road.

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stuart: world leaders are now looking in some way to make aimeds with president elect tram 27 as he prepares to retake the white house. bill melugin joining us and canada's trudeau was at mar-a-lago and now making some concessions. is this working?

had dinner with incoming president trump and this is something that his ally haves been saying was going to happen and this is going to take a listen. >> this is rock, paper, scissors. it's strengths, weakness, appeasement and strength wins and justin trudeau flew to palm beach to meet with president trump. reporter: in his conversation withs leereds of mexico and canada, trump was threatening both of the countries with tariff ifs they don't secure their borders and stop the flow of migrants into the u.s. but some democrats out there say they believe if follows through,

they'll do more harm than good. take a listen. >> prices going up and jobs not being created in the united states. jot bricks company is trying to move from the dollar and we stand by and watch is over. we require a commitment from the countries that they'll neither create a new bricks currency or back any currency to replace the mighty u.s. dollar or they'll face 100% car riffs and should expect to say g good-bye into selling the wonderful u.s. economy. trump has no listed if they show

up to have a quick meeting with the president. back to you. >> president elect trump nominated kash patel to lead the fb and i recollects a staunch critic of the deep state. kt mcfarland joining me now. i believe you were personally targeted by the intelligence community during your time in the trump administration. >> he should open up all the files and get sunlight and share sunlight on all these hidden, hidden, hidden files and we know the fbi has and they've been doing this for years and they've been using fbi and intimidation

and kash probably knows where most are and unlike previous weapon with that motion, he'll not be dis imdated and new fbi director -- intimidated and new fbi director comes in and deep state says you can't see that. it's too highly classified and can't declassify that and that'll hurt the reputation of the agency. the biases they've done and not against foreigners but against bankrupt them and perjury trabs and not committing a crime and at end of the day, nothing ever gets made public. stuart: taken over parts of al

poalepo in syria and trying to hold off. this may be part of the trump effect. what do you think? >> syria's government is corrupt and incompetent and propped up by russia and iran. now, russia had to draw down some of the military quilt and going to ukraine and iran they're kind of in a bad space because won't under president trump and he'll sanction everyone and so all the sudden people supporting and sporting

some group and middle of all this and to me, it's one of the middle east situations and going for 900 american troops shot at every day in middle of multiparty civil war and eventually and sooner have american pushties and be in a real mess. stuart: he want as ceasefire and hostage negotiation. what are the chances, kt? >> really good if not the inauguration shortly thereafter. look what israel has done. they've effectively destroyed fighting power of hamas and they've done the same to hezbollah and have a peace agreement with some sort of agreement with hezbollah. so if you're hamas and president trump, incoming president trump with a trump effect has said i want that war over and i want -- rizz reel is on the doorstep and

military operation is decimated and looking for them with a quick deal too and hamas not getting on the plan and having -- plane and having dinner at mar-a-lago, probably not getting invited, but they're all scrambling to figure out how to accommodate president trump before january 20th if not before. stuart: accommodate. nicely put. kt, see you again soon. appreciate it. see you soon. how about this one, senator bernie sanders just agreed with elon musk about defense spending. ashley, what's he saying? ashley: budget of $886 billion for the pentagon failed seventh audit in a row and only 13th senators voted against military industrial complex and defense budget full of waste and fraud. that must change.

top 100 equipment makers decrease by 4.2% in 2023 to $632 billion. fueled by wars and regional typingses. overall u.s. defense contractors saw their sales grow by 2.5%. russian groups on the list including state owned rise in arm sales by 40% to $26 billion. stu. stuart: got it. ashley, thank you. coming up, earlier on this program, border czar tom homan said the criminal cartels and migrant caravans won't stop till trump get into office office and stop this catch and release. border sheriff that had yous

cleveland on that later on in the show. that hotel has ties to a foreign government. is that legit? should taxpayer money be going to a foreign government? we have the story next. ♪ at harbor freight, we do business differently from the other guys. we design and test our own tools... and sell them directly to you. no middleman.

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when you're planning for it all... the answer is j.p. morgan wealth management. stuart: take a look at am general and going to have a dow stststocks and it's united healo taking it going down and 160 points and going for them and however the other side of the coin and going for amazon and going for the losses and stocks on the screen and they add 18 points to the dow and going for them and opening up ai and the partnership and going for them and up loading in and start with intel. >> i have an update on 2. lauren: shares up bloomburg report the ceo was pushed out after the board grew frustrated

his turn around plan was just not working and as we noted earlier, shares down 61% during his tenure. stuart: how about tesla? jaire doing to 411 and going for them to upgrade to buy and target of 380 and accommodated regulatory environment and software 13 and getting rave reviews from drivers that have been able to try it. stuart: tesla is up again. thanks, lauren. new york city paying hundreds of millions of dollars to house those migrants lydia hu, legit to be paying for the foreign country? >> talking about pakistan, stuart. the roosevelt hotel is owned by pakistan international airlines,

which is a state controlled entity city. new york city entered a contract to pay $220 million to use the roosevelt hotel and more than 1,000 rooms for migrants and illegal migrants coming into the city. "a taxpayer-funded hotel for illegal migrants owned by the pakistan jim jordan government and means taxpayers are going to pay a foreign government to house illegals in our own country. this is nuts". ramaswamy will lead the department of government efficiency, or goge with them and going for them to cut federal spending and waste after this expos and going with them to make the focus on spending with the migrant crisis as of 2023, illegal immigration and cost taxpayers with 182 billion

annually and that's state and federal tax dollars and most of those are born by the state and local governments here in the area and mayor adams going to estimate that the city spends more than $10 billion of incoming summer and on the border crisis and about the spending stuart, there's a city audit from this summer that found new york city spent almost $1.7 million. stuart: what a mess. bringing in border sheriff thaddeus cleveland. what happens to the migrants coming to the border in the next 49 days.

>> stuart, first of all, good morning and speaking specifically to my area we're fortunate that the u.s. border patrol agents here getting out and protecting our portion of the border. but eagle pass is two hours down the road from me. el paso is four hours up the road and you happen fortunately places like that. people are still being released and people are being given notices to appear and are coming in and surrendering to seek political asylum. we must not forget about those allowed in under cbp1 app. united states of america .x49 days are up and not see ago change at that.

stuart: he'll bring in more drones, helicopters and personnel and seems like the pressure is working already. what are you seeing? >> i believe there's more of a partner with canada and governorred by rule of law and mexico controlled by cartels and we saw some of the speech that came out from mexican president after her meeting with president trump. she's got to save face with her country folks from the government of mexico. government of mexico and citizens. coming down to t they'll cooperate with president trump. i guarantee that. stuart: trump's pick for border czar, he joined this program earlier and expects the cartels to just get sneakier. watch this.

>> they're going to break up the larger caravan into smaller pipipieces and try to go through lower re-sours and they're not stopping till trump gets into office and catch and release and till then, cartel will be a bit more sneaky with smaller grows. stuart: sheriff, is that what you've been seeing in texas? smaller groups of migrants trying to cross not the big caravans. >> they've been seeing anywhere from 100-200 going for them and going for them to continue to see that and as tom mentioned and to be honest, they'll continue to get their weapons across and when i say weapons i'm not just talking about firearms and we're a country

full of americans that care about our country and that are willing to go toe to toe with them and make sure the borders are protected and stuart: see you later. sheriff thaddeus cleveland. how much are they spending on each migrant in the city? ashley: taxpayers in denver, stu, shelling out afternoon of about $7,900 per migrant or if you like, $356 million and counting and that's 8% of the city's 2025 budget caring for the roughly 45,000 migrants that arrived in that city since 2022. sanctuary policies from denver and state of colorado prevent local law enforcement from helping federal officials apprehend and deport

undocumented migrants and denver's democrat mayor mike johnson would rather face jail than cooperate with donald trump's mass deportation plan. but as denver splashes the cash on migrants. local doctors now say hospitals are at a breaking point and cops are struggling to contain a gang crime wave and the city is being forced to slash services at recreation centers but now there's push back for six colorado counties voting to sue the state and governor over laws that block their sheriffs. stuart: darryl issa is on the show a bit later and will take it on. bitcoin going on a record run since trump was re-e lekked and

crypto player are selling some of the holding ands using theming on extravagant purchases and one telling us what she's spending the money on. she's next. (fisher investments) at fisher investments we may look like other money managers, but we're different. (other money manager) you can't be that different. (fisher investments) we are. we have a team of specialists not only in investing, but also in financial and estate planning and more. (other money manager) your clients rely on you for all that? (fisher investments) yes. and as a fiduciary, we always put their interests first. (other money manager) but you still sell commission- based products, right? (fisher investments) no. we have a simple management fee

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stuart: a chance to check the stocks which you hope you own. biggest winners on nasdaq and lamb reservice connected and intel, applied -- research and applied athletics and lulu lemon and nice gains all around. check the price of bitcoin. at $96,000 right now. now, some crypto investors are cashing in on the trump bump. they're spending their profits and selling some crypto and spending profits on things like new cars and private jets. they made a lot of money.

one of those investors, i don't know how much she made is charlene woods and she joins me now. you sold some of your crypto. why did you sell and secondly will you tell us what you spent the money on? >> hi. good morning, everyone. something really important to me, i spent my first set of coins, which was on my dog's surgery, pepe. >> going for las vegas. can't afford a jet and just went and we'll move in baby steps. stuart: what proportion of crypto holdings did you sell? half, a quarter, 10% or what? >> i am not disclosing that and

saying it was a small percentage and once i make the money back, i'll reinvest it because bitcoin, pepe, chill guy, salona are all great investments and i'll keep investing which is what we want to make a chance. >> real fast. i want no taxes on crypto. stuart: good luck with that. thank you for coming on the show. one day you'll tell us what proportion of crypto you sold getting to the nitty-gritty and come on back, soon. charlene. see you again soon. >> thank you. stuart: largest gold deposit in the world is uncovered and tell me where it is and how much it was? lauren: china.

1,000 tons plus worth $83 billion. china produces more gold than any other country including south africa and it is responsible for 10% of the world's gold production. their central bank has been buying gold and citizens have been buying it and think what's going on with their economy and property market. it's being -- gold is popular in technology as an electrical conduit. those are some of the reasons why not today but gold has been hitting record highs. this is the first pullback in four days. stuart: $83 billion worth of gold. lauren: imagine that . deep down underground. check the dow 30 and a sense of the market. that's a fairly even split and a bit more selling than buying. bit more red than green. the dow is down 125 points. next case. lawmakers in california are still pushing for the state to resist trump. watch this. >> we're not going to utilize state and local resources to do

the federal government's job for this. >> going for this and today we have congressman darryl issa here in new york. here he is. ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. so you can feel confident in your financial choices voya, well planned, well invested, well protected.

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stuart: today lawmakers in california will kick off a special session to trump-proof their state and which laws are they most concerned about? >> immigration, environment, evs, transgender rights, stuart. last time, remember, california filed 140 lawsuits against a trump administration and going to revise that role and just two days after trump's reelection and governor newsom came out gun's blazing and liberal left crusader and policy war against another trump term. >> it's not a theoretical exercise and know what happened last time donald trump was president and he vandalized programs and broke the law.

provetism and preparedness and maybe recalibrating his message and his own ambitions and some other democrats however say the state is moving right on crime and taxes and immigration and trump in the california counties and harris. joe laster time the state won $42 million fighting trump and the democrats are proposing to spend $25 million more to do it again. one in ten residents in la county, stuart, are in the u.s. illegally and the city and county have pledged millions to fight the deportation issue. governor newsom may be backing off a bit and don't expect that at the local level.

stuart: alex padilla said his state won't help with deportation plans. >> no state government, not texas, california, any state in the nation has a constitutional authority to impose federal immigration law. we're not going to utilize state and local resources to do the federal government's job for us. donald trump has made it no secret, but he has it in for california. stuart: they're not going to help the -- not going to help trump. ? the studios and congressman darryl issa in from california and earlier today where the border czar tom homan and going to cooperate and will face consequences like arrest. how far would you go 124 >> well, if we're asking as we have a right that they hold people who have committed crimes and turn them over for deportation, when they find someone that's illegal, committing a state crime that

they inform federal authorities, if they're not willing to do that, they're obstructing justice at federal level and they would be prosecuted. stuart: if ice goes to the president where the criminal migrant is imprisoned. >> and sneak them out the backdoor which they've done in the fast and gotten a i way with it. stuart: whoever runs that prison is in handcuffs? >> fine with me and the incoming administration. you know, the people of california, prop 36 just voted over the objection of the governor to make our laws a little tougher again. not as tough as they should be but tougher than they were. the people are with president trump in enforcing the border, dealing with crime, and particularly deporting people that are criminalizing the very neighborhoods where some illegals are li living in hidin, but president trump has said, he'll prioritize two groups, criminals and those who have already been ordered deported, and simply fled. that's a very simple and

reasonable standard. stuart: i need your comment on president biden pardoning his son hunter. by the way, karine jean pier talked about this. >> there's his own stockholm syndrome and nothing wrong with the an absolute power being used this way. i just wish he'd be honest and not try to say that he somehow is a victim. he's not a victim, he's a criminal. in the investigations, we've seen him stealing money, falsely using his father to bring money in and not paying taxes and carry ago gun while he was a criminal and these are reasons he was charged and wants to forgive him as a pardon, that's his right but be honest about it. stuart: yeah, right. biden pursued trump with a

political conviction in court with his lawfare. legitimate for kash patel of the fbi to go after the deep statement >> we've got to clean up the department of justice so it's no longer jokingly not jokingly called department of injustice and got to represent the american people without a bias and that's just not true right now. stuart: congressman, thank you for being with us today. it's very cold outside. >> it could be worse. stuart: it is time for the monday trivia question and it's another winner. which animal has the biggest brain: sperm whale, elephant, orangutan, gorilla? congressman issa thinks it's the sperm whale but he's not staying to play. the answer when we come back. ♪ hi, i'm greg. i live in bloomington, illinois.

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we asked which animal has the biggest brain, is that the sperm whale, an elephant, orangutan or a guerrilla, ashley, you are first. >> the congressman's first inclination is i get it, it is a huge whale. i'm going to go with number three the orangutan the so-called gentlemen of the jungle. >> gentlemen of the jungle that the first i heard that.

>> i'm with ashley is not the elephant i know that they are bringing. >> i'm going to go with the gorilla and lastly still have congressman iso with us he is still playing. >> animal that is smart to go back in the ocean and get away from us all and communicate with each other is a sperm whale. >> the answer is, well done congressman you are looking good, let me tell you, the sperm whale has a brain that weighs 1e and a half times larger than the average human brain which is just 3 pounds. >> they claim it's wrinkles in the brain that determine how much you learn, i am for wrinkles. >> he knew the answer he did not guess. >> david and freddie all. >> indeed i am, welcome to cavuto "coast to coast" i am