smith, tracy burns, jonas ferras and david mercer. welcome to everybody. acy, new taxes and fees from the health care law hitting in the new year. will they hit the market and the economy? >> they most certainly will. what a culture sck this is going to be. first, when you sit down to do your 2013 tax return come april, you are going to realize there were 13 new taxes in 2013 alone. we are talking about increasing dividends, medicare, payroll taxes, you name it, you were clobbered in 2013. you will sit down and do that, mentally you are already psyched out about what's going to happen about 2014. plus you have the obamacare fees that are going to hit coming in 2014. everyone is going to just be thinking about these things all day, all along, that's going to hurt consumer spending, it's certainly going to make you not want to get out there and boost the economy. >> we're just learning about some of these fees. there's a 2% levy on every health plan, a 3.5% user fee for insurance companies just to go on the online marketplace, increases in medicare part a. th

tracy burns. john nas max ferris. along with bernard whitman. ll pushing the minimum to the max push out jobs just as they're coming back? >> yes, absolutely, this is the wrong thing to do in an economy that's showing some signeds of recovery. remember, they're targeting the wrong people. this is a great union and democratic slogan to say, look at the ceo, how much he's making. you can't raise the minimum wage to $15 an hour? take mcdonald's nor example. they will tell you, they don't set the wages for the local franchises. these are your moms and pops. these are your neighbors out there. they can't afford -- they don't have huge margins to raise the wages to $15 an hour. remember, if you want to help poverty this isn't the way to do it. the earned income tax credit does it. take this out of politics. take this out of unions. remember, 67% of people that make minimum wage work part time. $53,000 a year is what the average person who makes a minimum wage, that household, makes. this does not do lot for poverty but it does hurt small business. >>

smith, tracy burns, jonas ferris, john layfield and sasha ur. welme to everybody. john. more than 20 fixes so far. is it time to cut the losses and repeal obamacare? >> yeah. thas what anybody would do in business. that's the problem. none of the guys have been in business. we have one of the most unfriendly administrations to business in our history. they continue to overpromise and under deliver on everything fr youan keep your doctor, you n keep your pla we'll have fewer people on january 1 of 2014 covered by insurance than were covered on 2013. president oma ss millio have enrolled. a million have enrolled actually. if y counthat the expanded medicaid they are tryin to pass onto the states which they can't afford there is a reason 35 of 50 states have opted out of the exchanges they can't afford it. it's time to c our sses and do something about health care instead o mandate that the majority of americans do not want. >> john is clear on this. is it worth keeping, sasha? it's almost gutted alread >> it's not gutted. there are a lot of provisions there workg for a gre

smith, tracy burns, jonas ferras and david mercer. welcome to everybody. he health care law hitting in the new year. will they hit the market and the economy? >> they most certainly will. what a culture sck this is going to be. first, when you sit down to do your 2013 tax return come april, you

. ♪ >> reporter: i'm tracy burns with your fox business brief.ed marketing software company responsive for about one-half billion dollars. oracle will pay $27 per share, 30% premium to the company's thursday closing price. the acquisition is expected to close the first half of next year. standard and poor has downgraded the european union credit rating from aaa to aa. now, this comes as the budget battle and debt problems continue. rating with fitch and moody's remains xxx. and a quick programming note, new york attorney general's office coming under fire for allegedly tampering with a witness. high-profile lawyer david boyce is making the accusation. and he's talking with liz claman and charlie gasparino at the p.m. eastern right here on fox business. you don't want to miss that. as the latest from the fox business network, giving you the power process -- prosper. ♪ my customers can shop around-- see who does good work and compare costs. it doesn't usually work that way with health care. but with unidhealthcare, i get information on quality rate

all coming up with tracy burns and ashley webster in the next hour on fox business.k is open. ♪ openy n york has a new plan -- dozens of tax free zones all across the state and pay no taxes for tenears... we're new york. if there's something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com. ashley: good afternoon, everybody, i'm ashley webster. tracy: and i'm tracy byrnes. christmas comes early. new market highs. will 2014 be the first year the recovery feels better on main street than wall street? michael jones from riverfront investment group says yes. we'll talk to him in a few moments. ashley: how about this? a two-minute pizza. chipolte is joining with local restaurants to have a casual pizza. tracy: makes italians in the rooms very happy. after the data hack, customer data is on the black market. class action lawsuits and shopper traffic is down. can the retailer ring in a happy new year? ashley: we couldn't go too long without a robot story. nasa's valkyrie robot against japan's robot. the department of defense's

tracy: john burns, john burns real estate consulting. here is fact on john burns. all fan and been to home game of everyone of 31 major league teams. >> i travel a lot. tracy: bucket list things for baseball lover. ashley: true fan, as they say. quarter past the hour, nicole petallides down on new york stock exchange floor. stocks still lower, but you know what? could be whole lot -- they're bouncing back after the beige book. maybe that is it, nicole. >> after the beige book, what a difference. look how we're coming up off the earlier lows of the day. we had been down triple digits. what is interesting the vix is still higher. there are still jitters hear ahead of jobs report on friday. continuing to watch the 10-year bond because that's what traders are doing, all right? look at apparel retailer express. express came out with a tough forecast. they're basically saying, there are tough times that lie ahead for this holiday season. this stock is down 22.5%. i wonder if they wish they hadn't said anything at all? meantime what they are saying this was expected to be

smith, tracy burns, jonas ferris, john layfield and sasha burns. welcome to everybody. john.

smith, tracy burns, jonas ferras and david mercer. welcome to everybody.he economy? >> they most certainly will. what a culture shock this is going to be. first, when you sit down to do your 2013 tax return come april,

sth, tracy rns, jonas ferris, johnlayfield and sasha burns. welcome to everybody. john.an0 fixes so far. is it time to cut the losses and repeal obamacare? >> yeah. that's whatny

hiss quick action saved the life of a man inside a burning station wagon. ben tracydeo. >> reporter: this is amateur video of a burning wreck along the 405 in los angeles. the accident happened 2 p.m. before christmas day when they say a 72-year-old man crashed into the central divider. drew and his girlfriend were driving by when an lapd officer leaped over the median and attempted a daring rescue. >> he jumped out, putting in the car, pulls the guy out. as soon as he pulled the guy out, the car totally burst into flames. >> reporter: don thompson was on his way to work when he witnessed the crash. by the time he reached the car, he found the driver passed out in his seat. >> there was so much fire it just -- it gets into your head. you feel -- you see the smoke and the heat. it's unbelievable how much heat there is with thatfire and that was the time i said either you're going to get him out or get him out alive. >> almost overcome by smoke he got him out by cutting the seat belt with a utility knife. he and other good samaritans carried him away. the lapd caused t

tracy. >> you can keep a home going for a year. this is a great source of energy. >> now, one thing we should not do is burn them we have restrictions don't put them into the >> if you score aid smart phone or tablet this christmas, you'll probably spend time down loading new apps. >> a shiny ipad, minuty or iphone would be a welcome site. >> if traffic in san francisco is any indication, people will be getting one of a three. what are you going to do? i have an idea. >> get headlines and send us your photos or video. it's now built into the app. >> and resize text and get weather alerts or watch from the most-experienced weather time. it's all on one app. did i mention that it's free? down load it on i tunes. >> our abc7 app didn't make the list. >> the big three after that it was mixed. >> and for commuters it's waze here every morning by traffic reporter laila. you can find the traffic app store. >> all right. >> this weather continues to be spectacular but isn't what we need. >> yes. >> there are two new records for the date. 68 degrees and gilroy with a high of 73. and here is a view towards coit tower. readings 61 in san franc

tracy: is a what she says is it is the professionals. usually it is the consumer that gets burnede it could be that professionals? do you agree? >> a little better. i am not expecting the correction but it is interesting to see where they go but if you look where interest rates are it is momentum based. if you look at the peak of 15 or 17 you have to look at gdp in interest rates that will stay allow -- lowe's. gerri: but let's go into the sectors. people don't just buy the index but they did in with consumer discretionary? health care, industrials is it the same group? >> some of those that led are now a defensive. fund would think they could be okay but it is tough to say. we expect to see a return to volatility. it was extremely low all year. typically would have corrections it is very rare not to have a 10% down. gerri: but the 20%? >> it is possible. >> has the bank has to ask the hedge funds to come up with money than they will solve the technical traders sell than the indicators go off and high-frequency traders. >> i a do agrees that fast money is longer than they would be

burns. >> he will be looking over us and looks at us. and says -- ha ha ha, i know you're going to do it now i'm gone. >> that's nbc's tracie potts. >>> coming up next, the draumgtic scene was caught on dashcam video, the officer who shot into a minivan pulling of children learns his fate with the department. >>> plus a warning for pet owners in northern virginia, >>> [ gunfire ]. >>> the police officer that shot into a minivan full of children has been fired. a police dash cam caught the whole thing in the video you see several kiz getting out of the minivan as the mother argues with police, after the confrontation, the woman tried to drive off. the officer says he fired at her trying to protect others from harm. >>> $20,000 worth of u.p.s. packages were destroyed today before they could make it to their destinations. a delivery truck caught fire at a warehouse in landover. it's not clear how the fire started. no one was hurt. u.p.s. has not said how it will compensate customers whose packages were destroyed in the fire. >>> animal control officers in northern virginia say they've captured five raccoons in the mount vernon area and one test

the viper fire already burned an area the size of 500 football fields. at least 15 homes are destroyed. as ben tracy reports, no one is being spared from the fury. >> reporter: the fire broke out early monday morning. more than 600 firefighters are trying to protect the natural beauty of the big sur region. it's been suffering the same tinder-dry conditions as the rest of california. the state's so-called fire season has become a year-round threat. big sur fire chief martha karsten lost her own home to the blaze. >> it's very personal and when you see on the news other homes burning down and other fires you sympathize, but when it happens to you, it still has not sunk in. >> reporter: the flames were too much for 16-year-old fabian perez and his family, who also lost their home. >> me and my dad right now, we got fire hoses, started fighting the blaze, but it was too late basically. i lived there my whole life and it's gone in the blink of an eye. >> reporter: big sur is about 150 mile ls south of san francisco. it boasts some of california's most spectacular coastline. the area has not burned since

burning a real cigar. >> you can see the vapor. a lot of vapor on it. you get that experience. the next day you don't want to smell like a cigar. tracy? speak out we sell online on our website. and we have a line of electronic cigarettes and personal vaporizers. tracy: i think people should give them a shot. if nothing else, there are health and if it's. -- benefits. tracy: thank you very much. he can try these. adam: what is the point? tracy: you just said he shouldn't be smoking. asswe do every 15 minutes, the floor of the new york stock exchange, i have an electronic cigar here waiting for you. this market is going to look like this until the end of the year, no? >> don't expect much on wednesday when the fed comes out with their announcement, we don't expect much movement. you look at the 10-year yield coming in a little bit, now it has come in. take your cues and where it will go, the 10-year yield imagine the same policy announcements that we have had for the last two years, and we will slide down into the end of the year. up slightly in december generally a positive month. tracy: slow and steady is a good thing. thank you very