smith, joan as max ferris, john layfield along with lee carter and chuck rocha. welcome to everybody. john, all of a sudden our debt is an issue when it comes to giving americans more of their own money back. >> john: yeah it is and look, four times we've had significant tax cuts in the past 100 years and the numbers alltel the exact same story yet coolidge in 1924, kennedy tax cuts carried out in 1964, reagan 86 and bush in 2001 in the case of president kennedy 's tax cuts, gdp went to 6% for two straight years after the tax cuts. reagan went from 3.5 to 4.2% a year after the tax cuts, president bush inherited a 1% gdp and went to 3.8% and in every case, treasury revenue increased. i'm not sure how else to explain it except simple math and historical precedent which tells the exact same story if you do tax cuts right the economy gets better and treasury revenue increases. >> dagen: gary b., we will never claw our way out of these deficits unless we get this economy growing faster than it has been for literally the last decade. we do that through tax cuts. >> gary

smith, joan as max ferris, john layfield along with patrice lee and julie alvin. welcome to everybody. john do these protests do more to hurt the cause? >> john: they do because forget about whether the cause is good or bad. i agree with a lot of what they're protesting but the problem is this we have this year in the united states 7600 retail stores closing compare that to 6800 that close at the height of the recession. you're protesting these retail stores in chicago and chicago's tax base has been eroded. all you're going to do is drive people to buy more stuff online or to not shop. the problem you have in chicago right now specifically with the police department, with social services, is politicians. that you should be protesting. you have $62 billion in unfunded pension and debt obligations into the city of chicago only $ 0.33 out of every dollar promised by these politicians who knew they couldn't pay for it is funded right now and to go out there and to hurt retail, you're hurting your own city by doing this and yes, i think the cause is lost. >> dagen: pat

let's go to fox news contributor, john layfield. john, the president talks about them. you like the way things are going now, the tax cuts go through, katie bar the door. what do you think? >> i think he's probably right. i think we don't get the tax cuts through, we'll have significance problems. about 7 to 10% baked in the market when it looks like the presidents will get this done. if we get the uncertainty that tax cuts are going through, the market heads higher from here. >> neil: do you ever worry that they go ahead and get bit up on the rumor, selling the tax? >> yeah, sure, absolutely. i think in this case, the republicans have promised several times. they promised by july 4, by august. starting in august it looked like they would get it done. that's when you have seen the run up in the dow. you have companies like verizon, t-mobile, home depot with the majority of the earnings in the united states. this corporate tax cut and especially for small businesses which creates over 50% of the jobs, this tax cut is good for american businesses. >> neil: no doubt it's g

that was then, and doesn't john layfield know it. uld you buy ge with what's going on today? >> i would, and i have been, yes, to answer your question. i think that ge, it's been the worst performing dow stock this year. the trend has been terrible. best been dead money, but i think john flannery, the new ceo, has a chance to push the reset button. i think he did all the right things, he's cutting the dave depp, cutting about 25% of the work force. he's doing all the right things because he has the opportunity. neil: the only thing that gives me pause with him, i know in cutting the dividend in half, of course, he's saying all the right things, saying it's not all about stock even though he's talking about paying more executives with a higher proportion of the stock, but he's been there for,, what three decades, at least? so who is he to be the prophet of change? >> look, hopefully he's the guy who's seen the complexity grow, and he sees the opportunity for some financial engineering. they're going to a free cash flow model, they're g

john layfield come and do you own best buy or wal-mart?so happy i don't wal-mart because of this e-commerce story in the acquisitions. i think wal-mart is doing everything right. they are one of the original retail killers. it's bad for retail overall, but great for wal-mart. stuart: you said this throughout. wal-mart is the goal. liz: even though the profit margin is looking like amazon because they are investing more, look at what they do with cost cutting. as of wal-mart excels in. taking a look at plastic bags. they are really driving the cost model here. stuart: best competitor to amazon. >> absolutely. actually moving more in a wal-mart direction. think that this head-to-head competition between two companies online and brick-and-mortar. ashley: there's room for both. not like one or the other. same-store sales have gone up dirt and for 14 straight quarters. trying to same-store sales is the best in many years. stuart: look at this. of course dori to tell because this is the company i grew up with in america. serious. reducing ad spe

week winning streak joining me now, and lauren to discuss are the stars of bulls & bears, we got john layfieldgary b. smith and ned ryan gentlemen good to see you. john, first of all, we should say the new york times doesn't like tax cuts they never have and so they're bias against it so i wouldn't hang everything on a new york times article however we have a watered down tax cut. it's much less than the house was and the house plan was much less than what donald trump wanted, so we go from watered down to watered down to watered down and we see the market going down this week as well. is there a coincidence? >> no, not really. i think the market has such a good run right now. i think the market is waiting on a corporate tax front. i think they understand the republicans. they're the dogs, they never planned on having new tax cuts never planned on doing repeal and replace obamacare. they could brag about it all they want on the campaign trail and all of a sudden they got the cart and don't know what to do with it. what the market is dealing with these individual tax cuts are politically pretty

. >> and you can both remain there, and jonathan hoenig and john layfield are joining us.t to sort of near what we are watching now to hear from al franken, but in the middle of this waiting to see whether this gets in the way, doesn't get in the way coming to devote done by the end of the week, this weekend. what do you think? >> is certainly could derail those tax cuts or not is what worries me as an investor. a great year for stocks and record-setting black friday now cybermonday. so much of the great rally this year has been powered by the expectation of terrific tax cuts and we are running out of time towards the end of the year. a lot of investors are watching amazon right now, cybermonday sales but also capitol hill. >> these charges back-and-forth and who embarrasses him, you know,, with sanders enough to go around on both sides and you just have to interpret user more embarrassing. a lot of it going around. how is that likely to affect going into next year, obviously markets following those closely as well. >> it's got to affect it. the tax cuts and the looming go

layfield is with us, as in john layfield, ceo of the layfield report.ch -- the rally, i should say, it's on pause at the moment waiting to see what kind of tax deal we get. do you agree with that. >> i do. i think since the november recess there's are been a dispropositioner name amount of -- disproportion may not amount of increase. and i think right now you're waiting to see if the republicans are actually going to do what they say they're going to do. remember, they promised july 4th, they promised august recess. they've delivered on nothing that they said they would this year. it looks like they're going to get it done, but the market's waiting and seeing. stuart: we had this from mick mulvaney on the show yesterday, he's addressing the timeline. roll tape. >> actually, i think you're going to see the house bill pass this week, and the senate may actually have a chance to pass theirs before thanksgiving, if not immediately after. so the goal, obviously, is to get all of this wrapped up by christmas, and i still think not only are we on schedule ther

and john layfield. and when you buy this dip now? >> it is higher than i won't. and and you lost a lot of money. and tax reform is done. what form tax redone. >> the repatriation of money, the individual tax rate is negligible especially on the upper 1%, not politically palatable to do that but repatriation, tax cuts, very important to the market. stuart: if you're sitting to you are doing what other people are doing, waiting to see. i want to know about safe havens. 5 big tech companies, the fundamentals are very strong. would you agree with that. >> carnegie, rockefeller and edison build the us economy and doing this on a global level, and most powerful in the history of the world and that will continue. >> disney going all in on streaming. a separate pay for channel that goes after netflix. stock is way up. >> not all this treatment service, streaming service, 27% stake in who and espn 3 is one of the most digital -- and star wars and marvel, getting into a crowded market, netflix, $7 billion a year, amazon spinning 41/2. this is an incredibly complicated mark

stories coming up and joining me to talk about it fox business dagen mcdowell, mitch roschelle and john layfieldo be here. dagen: merry christmas. [laughter] dagen: multiple times a day. >> can you say that before thanksgiving? >> i'm a dallas cowboy fan. >> i'm a redskins fan. [laughter] >> we lost left tackle and running back. dagen: we live in a long-time world of hurt, the poor quality of play and unevenness of season. maria: anything to say about the giants? >> no, no. i'm a giants fan and i'm root if for lions on thanks giving day. >> unfortunately for us the eagles was probably the best team in football at least nfc. better than patriots. >> that was painful to watch. maria: thanksgiving turkey and football. >> that's right. maria: department of justice suing to block takeover from time warner by at&t, would raise cable bills for customers. at&t attorney says the government does not have a strong case here. >> in a merger case like this, the doj has the burden of proof, it has to prove that the merger will harm competition, it has to prove that this merger will harm consumers. it's a burd

john layfield, would you be a buyer of more stock if that happened or would you sell on the news?m is because once you take the uncertainty out of the market, which is the one they hold in the market and place right now because they believe they will get tax cuts but they're not sure, if you don't get tax cuts, 10% in the market right now is how much you see the dow dropped. if you see the tax cuts go through, we continued to trend up. not a huge faster and we continued the trend. overall online sales numbers came out with one day we spent six points at $9 billion online in one day. that is huge. by the way, 1.59 billion of the money was spent using smartphones. that is another record. i say this is an extraordinary shift in the way we shop and it's happening right now. the revolution. am i going too far? >> no, absolutely not. by the way, and online sales only 10% from 11%, not even close to rockefeller numbers on monopoly which is worrisome because amazon is 25% right now. the next three years they will double their company size with what they've done the last 20 years. we have

smith, joan as max ferris, john layfield along with patrice lee and julie alvin. es 7600 retail stores closing compare that

smith, joan as max ferris, john layfield along with lee carter and chuck rocha.