steve moore is back. we have austan goolsbee with us as well, former obama economic advisor. thanks to both of you for being here. steve, let me start with you. that quote we heard from donald trump doesn't sound like the news we he heard at the end of the last hour about this possible import tariff. how do you reconcile those things? >> well i didn't hear the whole speech so i don't know the context of what he was saying there, but that quote, sounded like he is going to get tough with mexico, no question about it, and you know, i inferred from that that there was going to be some kind of a import tax or something to that effect. there is a lot of talk about something like that in the works in the white house. that was not part of the original tax plan that i worked on, melissa. melissa: yeah. >> there is new whispering that something like that might find its way into the tax plan. something i would not favor. i don't think an import tariff is a good idea. melissa: austan the idea of an import tariff flies in the face of what we heard reince preen bus say on "hannity." let m

melissa: steve moore, if i could ask you, steve mnuchin, people wonder what he would sound like whate has given money to democrats. people were wondering is this -- i mean isn't supply-sider? isn't good pick? do his thoughts really align with trump's? ch like david when he started talking about dealing with the debt threw growth, that gave you some clues. were you worried and what did you think about his views on the economy? >> by the way, i watched the movie, "sully," the other night, you know who the producer of that movie was. you are right, he is movie producer among having a lot of other talents but i did not know who steve mnuchin was six months ago. i had been working a little bit on the team with donald trump. he came in and we started working with him. you and my old buddy, larry kudlow, he could not have been, answer to your question, yes, he is a supply-sider, he gets it. low tax rate, broad base, help grow the economy. we never had to make that case for him. he implicitly gets it. i have the high confidence. by the way, he will be judged, melissa, on the basis whether he

trump economic visor steve moore know it. good, to have you, steve. what do you make tit-for-tat with donald trump and big new york city liberal and governor of new york ruled out a 2020 run, sounds like he might be laying groundwork for one, that the rich don't need a tax cut, if anything, they need a tax hike? >> first of all i don't believe for a minute he is not looking at a 2020 race. i don't believe that for one minute. i thought it was so interesting how he really focused on what is good for new york and tried to pull back trump obviously new yorker himself from some of his policy proposals. i got to tell you this, neil, as you know i have done a lot of work looking at growth rates of various states, there is no state over the last decade done worse than new york state. maybe a few, my home state of illinois. these blue states like new york, have lost, give you within statistic, that is amazing. new york lost a million net citizens to other states last deck can cade. people are leaving new yor the ason they're leaving in part, what you just tlk

lou: listen to you, steve moore.'re a bomb thrower and you've shed the shackles of orthodoxy, i'm proud of you. >> looks, lou, i don't agree with everything donald trump does, but i love the fact that he-- >> come on, we don't need that here. >> i don't like the idea of a tariff on mexico, buts' strong with chinand mexico and it's out time. we've ten for fools. lou: now you're starting to sound like him for crying out loud. i'm proud of you even with that, quite negative in there. >> i learned all of this stuff from david horowitz. [laughter] >> thanks for being with us, we appreciate it, gentlemen. >> thank you. lou: thanks so much. please roll the video. one swedish adventurer knows how to stick the landing and watch as he does so. goes flying off this ramp. this is quite-- this is not a good idea. look at that. that's not the first thing that should occur to you, i'm sure, when you get aboard a snowmobile. [laughter] he launches a 500 pound machine, does two back fli flips for the feat the x-games medallist holds

liz: thank you, steve moore. stocks hitting record highs. but guess who is still negative? the media. we get on the one hand on the other hand headlines. but take a look at these headlines. cnbc. dow 20,000. but trump rally starts to slow. take a look at this tweet from cnbc host jim kramer. doing my best to come up with substantive non-trump reasons for the surge to dow 20,000. look who's here, money manager scott martin. we understand that even wall street reporters and journalists and tv analysts want to cover their bets. what do you make of the negativity in these headlines. are you finding people complaining on wall street? >> not too many these days. but you know what i love about these tweets and comments. they are great because they help push the market higher. when you say look at the ones who came out november 9 and said this is the worst thing to happen in the economy and business. steve moore said this one of the greatest post-election rallies ever. i love the may sayers. because it will help the market go higher. liz: do you see any concerns here? >> there are

so, steve moore, are kids killing malls? i mean, is this a dying industry? >> you know, who would have thought that the jets and the sharks were meeting in the malls now? that's potentially looks like what happened this week. i'm very much in favor of tighten security at these malls as was mentioned earlier, these are private enterprises, they're in business to make money to get shoppers in. if people feel they're not going to be safe at the malls, then they're not going to go. it's really that simple. no, i don't think this is the death of retail, but they have to make the shopping experience something wonderful and something people want to go to. certainly if you feel like you're going to be mugged or see violence at the mall, then people are going to stay away. >> yeah. and here you go, you know, it's a great thing for people to do, jessica, when they don't have anything to do when they've got too much time on their hands -- >> right. go hang out. >> yeah, people aren't shopping, that means there's not as much security. so these are essentially havens for

joining me fox news contributor steve moore. steve, you've been involved in these meetings, you've been advising him on tax policy. i know you're all for a lower individual and a lower corporate tax. tell me a little bitbo this potential for riffs. >> by the way, i was not in the meeting last night, to set the record straight, i was involved in the very early stages of helping put together the trump tax plan. and as you know, the heart of it is to get the rates down lower. this is this issue called border adjustability, trish, bubbles for two or three months and now simmering. you had argument last night between some of the trump representatives and chairman brady wanted to do and paul ryan. just to make this clear to people. so right now in my opinion, we have the dumbest way we tax. we tax what we produce and export but don't tax what is imported. most countries do the opposite. the issue of border adjustability is it would change the way we tax, when we produce something in the united states and send it abroad it would not be

we'll take it up with steve we'll take it up with steve moore. when a cold calls... achoo!answer it. with zicam cold remedy. it shortens colds, so you get better, faster. colds are gonna call. answer them with zicam! zicam. get your better back. now in great tasting crystals. won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. and if you have more than one liberty mutual policy, you qualify for a multi-policy discount, saving you money on your car and home coverage. call for a free quote today. liberty stands with you™. liberty mutual insurance. lou: speaker paul ryan sometimes can't help himself. esteemed break for the just a moment with the president atlantic as he has done so frequently. he said congress will not raise tariffs after trump threatened again motors with a bored tax over cars made in mexico. trump today praised ano

lou: joining me now, trump's economic advisor, steve moore. in which the president laid out his values. his policies and the direction of this country on nearly every issue imaginable. >> i think the people in this town are suffering from cardiac arrest. we were talking off camera can you turn that elephant around and make it go in a different direction? i believe if he can pull this off he will go down as one of the great presidents in american history. sometimes eats people like that and spits them out. lou: i think this town has more than met it match in president trump. president trump said as clearly as can be said, that the american people are holding primacy and policy in he respect. i believe that is the reason that so many people supported him and he is the president of the united states. >> one of my favorite lines in the speech is when he talked about the forgotten man and woman. i traveled with donald trump and did events for him across the country. you go to silicon valley and squall street, people say wha are people complaining a

ed rollins and steve moore are among our guests tonight.to be . happy new year. catch us every night at 6:00 p.m. great in the meantime here's the man himself lou dobbs on fox. president-elect trump begins new year working for hard-working americans slamming the brakes on the construction of a new plant in mexico and ford ceo credits donald trump and his progrowth policies. >> when we look at some of the regulatory reforms that he has been talking about that gives us a lot of confidence and this is a vote of confidence that he can deliver on those things. fu also tonight the president-elect making good on promises to run a smart government to drain the swamp. trump insisting house republicans back off their plan to god the office of congressional ethics after a storm of criticism. we are joined tonight by the first congress to endorse trump chris collins. he joins me in moments. and crisis in chicago, the president-elect making it clear chicago's runaway violence and record number of murders must and. he insists mayor emanuel stop the killing in chicago. we will

trump campaign economic adviser, steve moore. let me turn if i may to first the bad. paul ryan.e's decided there won't be a tariff? there won't be a tax? who the hell does he think he is? >> i'm not for tariffs either. i want those jobs to come back to the united states. i don't want them to go to mexico. i love what trump is doing, telling these companies, do not go, 15 days mayor case open to business again. we'll cut energy costs and cut your taxes. that's the way to get these businesses back. i'm with paul ryan on this. i don't think tariffs are necessary if we the fix everything else that's wrong with our economic system. lou: well, that concludes our conversation. let me help you out. the chamber of commerce and the business rounds table have been running economic trade policy in this country for 30 damn years. can we stipulate that? are we together on that or are we not? >> sure, i'll accept that. lou: don't you think it's about time we started running trade policy, economic policy on behalf of the american people and as donald trump demonstrated, there is a considerable

we'll take it up with steve moore.erty mutual stood with me when i was too busy with the kids to get a repair estimate. liberty did what? yeah, with liberty mutual all i needed to do to get an estimate was snap a photo of the damage and voila! voila! (sigh) i wish my insurance company had that... wait! hold it... hold it boys... there's supposed to be three of you... where's your brother? where's your brother? hey, where's charlie? charlie?! you can leave worry behind when liberty stands with you. liberty stands with you™ liberty mutual insurance lou: speaker paul ryan sometimes can't help himself. esteemed break for the just a moment with the president atlantic as he has done so frequently. he said congress will not raise tariffs after trump threatened again motors with a bored tax over cars made in mexico. trump today praised another automaker. joining me now to make sense of all of this, the good, the bad. trump campaign economic adviser, steve moore. let me turn if i may to first the bad. paul ryan. who -- doesn't

administration steve mnuchin talking about three or 4% revenue people like larry kudlow talking four and 5%, steve moore. the flip side on wall street was saying watch out for donald trump we are going to see the economy crashing his going to start a trade war. now it's time to put your money on the table and make your bet. >> with that interesting variables. we have got headwinds from the strong dollar so we have a ridiculously strong dollar. we do have a positive consumer sentiment. we also have the potential for massive fiscal stimulus and infrastructure spending. all this could be a boost that we have a slow picture which we haven't had necessarily in past environments. to pull away from that for 5% by itself and the strong dollar. it's not a bad picture. gary: is the fed behind come is the fed just right or ahead? >> two things i look at it said the fund futures. gary: we should should explain to viewers that a year ago the fed funds model was saying it was 24 and ultimately have one. >> a lot of things are priced to perfection. the dollar is priced to perfection presents february be dollar is up 1

steve moore. it's great to see you. congratulations. special evening for you work so hard to bring policy into line. >> i have had the time of my life with this guy. he's a different political leader than i have mean my life. lou report u.s. military conducting airstrikes in libya on president obama's final day in office. we'll talk about the drastic changes ahead. ambassador john bowl stop joins me next. this is special coverage of donald trump's inauguration. america's beverage companies have come together to bring you more ways to help reduce calories from sugar. with more great tasting beverages with less sugar or no sugar at all, smaller portion sizes, clear calorie labels, and signs reminding everyone to think balance before choosing their beverag. we know you care about reducing the sugar in your family's diet, and we're working to support your efforts. more beverage choices. smaller portions. less sugar. balanceus.org. when aachoo!calls... ...answer it. with zicam cold remedy. it shortens colds, so you get better, faster. colds

steve moore. it's great to see you. congratulations.pecial evening for you work so hard to bring policy into line. >> i have had the time of my life with this guy. he's a different political leader than i have mean my life. lou report u.s. military conducting airstrikes in libya on president obama's final day in office. we'll talk about the drastic changes ahead. ambassador john bowl stop joins me next. this is special coverage of donald trump's inauguration. when a cold calls... achoo! ...answer it. with zicam cold remedy. it shortens colds, so you get better, faster. colds are gonna call. answer them with zicam! zicam. get your better back. now in great tasting crystals. lou: breaking news. mexico announced it extradited joaquin guzman to the united states. he has been imprisoned in mexico after escaping through a nunlt previous prison from his cell. el chapo is on his way to new york, which is one of several jurisdictions where he faces charges and will be in a super maximum security prison. we are reliably told. joining me, the form

. >> law enforcement and retired fbi agent steve moore says he should have been watched. he spoke to my colleague earlier on. >> for me personally, the troubling aspect is that he had contact with law enforcement and mental health professionals and he got a pass somehow. the army also knew that there were problems there. i'm -- i'm wondering how so many agencies saw him and didn't do anything about him. it's almost as if every agency knew a little bit about it, but nobody put the pieces of the puzzle together. >> all right. you shouldn't be surprised about that. that is the story of many whether it's lone wolf or organized attacks. we saw that in paris. we saw it in brussels. we've seen it more recently in turkey. everybody knows a little bit of something and nobody puts it together. another good example, of course, certainly was germany where the truck went into the christmas market. >> right. and i think that's going to be the revolution that happens in counterterrorism and even in threat management, where there is -- i mean, weave got all the data in the world on socia

administration steve mnuchin talking about three or 4% revenue people like larry kudlow talking four and 5%, steve moore. the flip side on wall street was saying watch out for donald trump we are going to see the economy crashing his going to start a trade war. now it's time to put your money on the table and make your bet. >> with that interesting variables. we have got headwinds from the strong dollar so we have a ridiculously strong dollar. we do have a positive consumer sentiment. we also have the potential for massive fiscal stimulus and infrastructure spending. all this could be a boost that we have a slow picture which we haven't had necessarily in past environments. to pull away from that for 5% by itself and the strong dollar. it's not a bad picture. gary: is the fed behind come is the fed just right or ahead? >> two things i look at it said the fund futures. gary: we should should explain to viewers that a year ago the fed funds model was saying it was 24 and ultimately have one. >> a lot of things are priced to perfection. the dollar is priced to perfection presents february be dollar is up 1

ask your doctor about cialis. ... >> final thoughts from our all-star panel starting with steve mooreth economy, what we've had for 7 1/2 years, a c-grade for his handling of the economy. we're going to get an a-economy in the year ahead. dagen: amen to that. brian. >> ho-hum jobs report feeding into a ho-hum economy. they're going to adjust, and it's going to be an interesting year. >> the jobs report we talk about it all the time and it's more of a lagging indicator so i'm going to go with real-time, real life experience, what we're hearing in the market. a lot of optimism we hear from business leaders across the country. they're going to start hiring. i expect we're going to see much bigger numbers moving forward. dagen: kevin kelly, manufacturing picking up? come on, people. healthy wage inflation going up. that's great, and we are going to see more fed hikes. dagen:. maria: a worry? mike murphy. >> i'm looking for growth for every part of the economy. and happy birthday to you. >> and charles. >> the market was down on hearings on capitol hill republicans taking shots at donald t

cnn law enforcement analyst and retired fbi agent steve moore joins me now from los angeles. thank you, sir, for being with us this evening. look, fundamentally, we don't know any motive for what happened yet, do we? >> no, we don't. but you get kind of a clue richard when he starts saying the cia is beaming things into my mind telling me to do things. i think that while he may eventually have said some things that were related to isis, i think we're going to have to go back to mental health issues on this one. >> right. but even if it's mental health issues, which, of course is an illness as opposed to necessarily criminality in that sense, even if it's mental health issues, the fact that he has linked it to isis or to cia does sort of take the story towards if not terrorism but at least those issues. >> it does, richard, but i think we have to go down to the ultimate motivation and you know, it's a gray area. i see what you're saying. but i would tend to lean towards the root cause being mental illness because he didn't go into the isis ideology talk until he was already di

steve moore, come back in again, please.o the care9 ott here -- carrot here. this is what mr. trump is offering. muchless regulation, he'll cut it by 75%, he says, much lower taxes. that's the carrot to entice executives to keep jobs here. it sounds like it's going to work, right? >> remember what i said on your show six months ago, stuart, remember? 2% to 4% growth. if you do those two things, if you cut those regulations by half and if you get that business tax rate down to 15-20%, you just jump-start the economy in a major way. but i want to go back if i could, stuart, i think it's an important point, what i was saying before. there is some unease in the business community, among investors about whether donald trump was going to get this done. there was a lot of talk in the last few weeks maybe we'll address the tax bill in september or late summer, i think that's a mistake. i think he's got to jump out of the gates right away and get this done. and then i think you see the stock market respond in a very positive way once

differing perspectives from austan goolsbee, a former economic advisor to president obama, and steve moore, an economic advisor to trump's presidential campaign. >>> plus, as the new congress gets sworn in two days from now, we'll ask our sunday panel about the year ahead for trump and lawmakers on the hill. all right now on "fox news sunday." hello again and happy new year from fox news in washington. when president-elect trump takes office, a little less than three weeks from now, he'll have to deal with the fallout from a flurry of bold foreign policy moves from the white house in the waning days of the obama administration. first, rising tensions with israel after secretary of state john kerry defended the u.s. decision not to veto a u.n. resolution condemning israeli settlements in the west bank. >> no american administration has done more for israel's security than barack obama's. >> and now new friction with russia as the obama administration reveals its punishment for what it calls interference in the u.s. election. that's where we'll begin as i'm joined here in washington by senat

trump's economic advisor steve moore is with us now. wealth has exploded. i know this is factually true. it's up $2 trillion since the election. i see that as nothing but good, and i see it having a positive influence in the future. agree with me. >> yeah, there is a wealth effect, no question about it. over half of americans own stocks. so when you see that $2 trillion increase in wealth, most of that is in, is the stock mket, theans americans can spend more. you looked at some of those, mattel, retail companies that haven't done so well recently, you know if americans feel they're wealthier and more money the savings account and in their 401(k) accounts they spend more. this is good news for investment. eventually for consumption and retail as well. stuart: i think it is good news for the second home market as well. >> you got it. stuart: steve, earlier i spoke to congressman peter roskam, the policy committee chair, i asked him if tax cuts will be retroactive to january the 1st. listen to this. is it going to be backdated to january t

here is steve moore, trump economic advisor. i look at the market slowdown.w can't pop over 20k. and i'm thinking maybe these roadblocks are one of the reasons why. what do you think? >> people in the market know those rules won't live back january 21 or 22. david: carl icahn knows how the to make things happen. he will be in charge of deregulation. you are saying it will just take a couple days to get rid of all these midnight regulations? >> it could. it depends on how aggressive donald trump wants to be, how quickly he wants to go -- whether they will dribble out one 350e repeal after another. i heard some talk you have huge stacks of executive orders ready to go literally january 21, the first day donald trump is in the executive office. there is a problem and i think barack obama is facing, if you live by it executive order as he has the last four years, you will die by the executive order. the incoming president can replace those. the conversations i have had with donald trump and his operatives, they say this always high priority. we rea choke off of m

ed rollins and steve moore are among our guests tonight. good night from new york. ken report new congress has been sworn in and one of its first orders of business is repealing obamacare. president-elect trump will soon name his pick for the supreme court vacancy. judge napolitano said that maybe his easiest opening to fill. resolutions are almost impossible to keep. it's time to kick off the new year. ready? 3, 2, 1! what's that strange odor wafting out of washington? that's that new car smell. with the new president riding into town and a brand-new year. there is a lot that's about to change. like the election, no one really knows how it will shake out. president-elect trump's first 100 days has to be impressive, impactful and unparalleled. he has to repeal obamacare, roll back every stifling epa regulation, single handedly build a beautiful wall from san diego to. >sao paulo. if it's not all accomplished in a couple months, that fresh scent will turn sour as brain hungry democrats and a scorned press will seek revenge. they bert have a good answer for this quest

john: steve moore with us for the next half hour or so. numbers are on your screen to call. going back to the hills report -- the $10 trillion cut over the next 10 years, it is based largely on the heritage foundation budget plan that has been released. obviously, you work at the heritage foundation, a visiting fellow there. what do you expect will be the key things cut by the trump administration if they go forward with the plan? guest: let me say one thing about donald trump that is relevant to this. one of the things that people -- especially your friends in the media -- don't completely get about donald trump is that he is a negotiator. his best-selling book was "the art of the deal." when trump puts something out numberike a $10 trillion -- and he has not done that, this was a media report -- but let's say it is. when trump does that, this is his opening bid. he is going to go to congress and congress will probably not take that trillion dollar budget cuts, but it is a way of negotiating and he ends up with significant cuts. what we are talking about at heritage is elim

joining me joe walsh and steve moore. joe, on the political aspect of this, the stakes have gotten high. dare i say we are in a mexican standoff. who blings here?blink, we don't. pull yourself back for a accept. we are 5, 6 days into a trump presidency and we are talking about the wall. 5 to 6 days into the trump presidency is beginning to build that wall. most people during campaign thought it was campaign talk taken wouldn't follow through. we have to give him so much credit. this is why he got elected and he's following through. trump is a businessman, he has been negotiating deals like this his whole life. this is just the first step. mexico will blink, they will sit down at the table. charles: donald trump points to nafta. nafta began in january of 1994. that year america had a surplus, a trade surplus with mexico of over a billion dollars. we had a surplus of $5.4 billion. we are on track to shatter the record probably $62 billion, $63 billion deficit. there are some economists who say these numbers mean nothing. it

here in washington steve moore the heritage foundation. welcome to fox news sunday. you. do you give the president elect any credit for the jobs he talked about or for the weeks ago with the deals with carrier? >> i'm happy that the jobs are going to come back i'm nervous that the fact that donald trump is currently re- announcing jobs he already when softbank said they were going to move jobs and expand them if he have something to shannon: either way does he get any credit for whether it was announced weeks ago or now? >> i would give him some credit for it. i would point out that under brock obama and the last seven years we've added 15 million private sector jobs. i think they're gonna need speed up the job creation if they want to match what has happened under brock obama but i give as an elected trump some credit for that. >> you know that they united steelworkers got into it with mister trump saint he wasn't telling the truth. he told the washington post is this the kind of thing a president can do making these individual deals. how is this can work. >> i thin

thanks for being with us, ambassador john bolton, david horowitz and steve moore among our guests tomorrowse join us. thanks for being with us tonight. good night from new york. . kennedy: tonight, president trump laying the first political bricks in his plan to build the border wall, but what does it mean for the administration foreign and domestic policy agenda? ambassador john bolton is here. >>> republicans fast approaching a deadline to repeal obamacare, is there a better plan in place? >>> and the secret service sworn to protect the president. why is one agent saying she will not take a bullet for president trump? grab an earpiece, it's time to act. it is hump day in the first full week of the tuchl presidency and the new commander in chief has a biting case of carpal tunnel syndrome from signing so

we bring in steve moore. you also helped donald trump put together the economic plan. let me first get your response on that. he took a lot of questions from a lot of different media organizations not just the first questions went to fox business blake burman i don't think i don't think a presidential event has ever happened. >> he is the hottest guy in news. i love the term that you use toescribe that press conference. i didn't see the whole thing b i saw lot oit. spicy is a good way to describe it. he never back down to the media. a lot of people are kind of shouting at him i thought he was poisoned he's going to be a great spokesman for this administration. he made out a pretty positive economic growth message and said give us some time we will get it done. i liked what he said about climate change. the real challenge here is to deal with the economy at the same time. i think that is exactly the right approach. what i found very interesting was not only did he meet with big names this morning were talking about ford and also elon musk of tesco which i found very ref

implementing the plans, you do have economic purests who talk about debt, and there are guys like, steve mooresring on more debt in assumption of hyper growth means fix it, but that is the gam plan we want to get infrastructure started immediately, and fix the inner-cities and child care, a lot of things that cost a lot of money, even if you worship supply side economic that inflow does not come in right out the gate. >> this will be tension between some conservatives, and donald trump, we hospital on the -- report on the hill that donald trump is look at major cuts on government program, and agent, he said i down want to lift retirement age that is at odds with republican orthodoxy of republican leader, medicare and social security are headed for bankruptcy, at some point you have to reform those programs, but this trump administration wants a massive infrastructure bill, that will not sit well with some on the right on capitol hill. charles: how do you go about this, you want smaller everything right out of gate, there are reports that donald trump plans to did serious cutting. >> your produc

i talked to steve moore here. we don't have to rerun what he said. i can tell you what he said. we might have to do our tax cuts in waves here. corporate taxes first and then individual tax rates after that. which sounds to me like they're not really on the same page. that they could blow an opportunity for big tax cuts. or they're reassessing it to these issues that have been mentioned here and saying, it's not doable. what do you think? >> yeah, like many things it remains to be seen in the coming weeks, what will happen. but look, both parties, republicans and democrats tend to use the budget in particular as a weapon. they cry and moan about what the other side is doing and especially with debt they're doing the same thing. >> neil: sabrina, where are we going with this? if we're getting things scaled back or potentially rejiggered, are republicans in some disarray here? >> this puts into perspective how large government has become and why it's so hard to get things done. one of the reasons we're having fights over tax reform is everybody wants a piece of the pie. when gover

ed rollins and steve moore are among our guests tonight. good night from new york.n in and one of its first orders of business is repealing obamacare. president-elect trump will soon name his pick for the supreme court vacancy. judge napolitano said that maybe his easiest opening to fill. resolutions are almost impossible to keep. it's time to kick off the new year. ready? 3, 2, 1! what's that strange odor wafting out of washington? that's that new car smell.

anyway, steve moore and i are suggesting politely that you have to get a tax cut first and it shoulde the heart of the trump plan which we always believed it was the heart of the trump tax cut. repatriation, expensing. boom, boom, boom, boom. actually, for bipartisan support you can tie some of that, particularly the repatriation, to an infrastructure bill which president trump and democrats seem to want. here's the key point. if they delay, kelly, if they don't get it done this year and we have to wait until 2018, you're going to see a delay in economic activity and a postponement of stock market action. >> yeah. >> so if you want to fix this thing right, get it done, by the way, it doesn't need reconciliation. we're saying regular order. i'd like to see a bipartisan tax cut bill like jfk and reagan. >> yeah. andy, how do we go from talking about massive corporate tax cuts and otherwise to tax hikes and border adjustment tax whatevers in the first week? >> well, the first thing you have to understand is the u.s. tax code is completely messed up because we tax exporters as those good

i'm also here with steve moore, fox news contributor as well. michael, is this the trump effect? >> i really think it is. this has been building up since election night when trump promised unity that stocks were trading off, and then took off for the races. they've been going ever since. i'll say two things here. this has been an orderly progression higher. financial and transports investments coming out. and then what happened after that was tech took the lead for a while. and then the baton passed to the banks. this has been very older. technicians will look at the market and say this is overbought. now, the second thing is dow 20,000. institutional investors aren't really benchmark to dow but why is this important? it's important because the individual investor is watching this program, i hope, and watching other programs and reading the papers, and they're checking the news online, and they're seeing this, and they're seeing this euphoria. trish: it's contagious; right? >> this is optimism. trish: you start to see the dow 20k, and you think, oh, my goodness, it's happening al

there are no economic advisers on donald trump's team like a steve moore. lindy graham tweeted anything that's going to lower the amount of tequila, corona or margaritas we have will make we mucho sad. it's bad for both sides. liz: let's switch gears. cnn only giving the dow's 20,000 milestone two mentions. compare it to the collapse after donald trump's victory. >> it will be a global market shock tomorrow, the world engaged in a global financial freakout. >> that gives you a sense how the glob markets are most likely to respd ift ishe case that donald trump pulls out a victory. >> what we saw happening in the stock markets is happening in the heart of americans. they are after he frayed and donald trump has to address that. liz: $2 trillion estimated in equity values added to 401ks and stock market portfolios. what do you make of this knee jerk reaction we saw when trump won? >> no one was expecting it in the mainstream media. they were preparing for hillary clinton to become president of the united states. hence why we are seeing this covering. liz: thei