Transcripts For FBC Varney Company 20171121

Oneman come in three of have gone public. Its indeed a delusion, it is not over. We will ask what is the appropriate punishment. Blockbuster news on the merger front. Justice department sues to at t and time warner. Many lawyers say justice doesnt have much of a case. Others say it is political. President trump doesnt like cnn owned by time warner. Look at this. Here comes another rally. Stocks going up triple digits at the opening bell. Some very strong economic indicators. Maybe a Strong Economy moving the market rather than hope for a tax cut. What a day. Big names accused, big rally on the way. Again, and Varney Company about to begin. The big outrage in washington is not Sexual Harassment. It is an old story. The big outrage is that we taxpayers are paying the bill for the settlement payment, the hush money to protect these bigtime harassers on capitol hill and that is what got been stopped. Until you had harassers from both parties and their wallet because thats where it really hurts, its not going to stop and we taxpayers should not pay the legal fees and the settlement payments year after year, millions of dollars to cover this out. I am not about. Com is stuart. Stuart yet she is. Betsy macauley angry about taxpayers footing the bill for Sexual Harassment in congress. Joining us now is Fox News Contributor katy parrish. Why are we paid millions and millions of dollars . Well come a piece of legislation passed in 1995 that was enough for her to allow people to come with Sexual Assault or harassment allegations in addition to that harassment or discrimination based on all kinds of things and accountability on capitol hill. But in the bill, they didnt take out the measure that allows taxpayers or forces taxpayers to pay settlements to people who are big guns of Sexual Harassment or other discriminations. So since the bill is passed on a 260 plus cases have been settled to the tune of 17 million by taxpayers in the worst part of it outside of taxpayers footing the bill is that no one can see how much exactly was paid out in for what congressmen or congresswomen it was paid out on their behalf. Silly defeat gray. Stuart what you think is the appropriate punishment for members of congress who are accused of misconduct and maybe admit to it . What should we do with them . Should we have a blanket rule youve all got to resign . Well, i do think we have to take a step back and take cases on a casebycase basis. Bad behavior is not the same thing as. In terms of what happen you have to look at the details of what happened that the ethics rules are whether they are being enforced at all kinds of rules on capitol hill and a lot of them are not followed in a lot of these can also be changed. A lot of Sexual Harassment laws on the books now are outdated, not in compliance with new things like 16 and social media. An update to those rules and regulations the hill would be at least a start. Stuart ive got 20 seconds. A lot of people say this is not over. You are the middle of d. C. Can you confirm that . This is just the beginning. This will be a big story for months if not years to come. Its been a big story for two decades. Bill clinton coming here we are today and it will certainly occur on capitol hill and more people in media as well. Stuart thank you today. Appreciate it. Thank you, stuart, have a good thanksgiving. Stuart i shall indeed. The dow just a few minutes from now. Positive signs on the economy. A shortened week. The volume much lower than normal. Bottom line going up again at the opening bell. Three retailers reporting financial numbers. Looks like a good thanksgiving break even for the bricks and mortar guys hurt record sales at Urban Outfitters up about 1. 5 . Dollar tree sales up 3. 3 yearoveryear. Thats a good performance of 2 . Better sales, better profits but the stock is down. Home depot is outperforming lows. That is why moses dowd may be to. 5 . Good vibrations on the economy. The Federal Reserve looking down the road with more Economic Growth ad, while over 3 and theyre not even considering the impact of the tax cut. Fox news contributor steve cortez with us today. Good vibes, is that what is helping the market this morning as opposed to hopes of a tax cut . Stuart, and absolutely is. As ms. Wonderful we can come onair and talk about great Economic News after a decade of slow growth of the United States economy being in the last beyond the greatness of this country. What we see now is its mourning in america economically receiving statistics on the stock market. Most importantly on main street. The stock market on welfare, im really enthused about what we see at walmart lately. They gave us a report last week that was gangbusters. The stock has responded with a massive rally. 90 were middleclass and lowincome america generally shop. The fact that walmart is doing now while tells us its on the health of the typical american consumer. Stuart here you have this good news on the economy completely overshadowed by the latest charges against media people and politicians overshadowing the very, very good news on the trump economy in his first year, almost his first year in office. What a shame that the very, very good news about the breadandbutter baseline story is kind of lost in a cloud of Sexual Harassment. Im in a real hurry. Ive got to move to this. The Justice Department is suing to block at t from taking over time warner. Speculation the president has a beef with cnn piling on the political pressure. Let me go first of all to even out comments. Liz at t will ask the court to get between the white house and the Justice Department about this deal because the president traits about fake news in the light haired at t saying that comcast on nbc in 2011 let the deal go through. The antitrust regulator himself on this 108 billiondollar deal to block it said recently not a problem. This is an issue. The u. S. And mexico, the government did bring a similar case but the problem is they had a real lockin can really drive up prices in the United States. Stuart steve cortez, will disturb a Monkey Wrench in the whole idea of major league mergers . You know, it might. Milton friedman taught us a long time ago that being probusiness isnt necessarily being proFree Enterprise. Big business wants to squash competition and mergers are the method they use to do exactly that. We have to be careful for a solid Free Enterprise system, its important that the government does have a role in preventing monopolistic practices. I believe this merger is so big and involves so Many Companies controlling the content and delivery of media that its anticompetitive and i agree with the Justice Department and challenging it. Stuart steve, thanks for joining us. Well see you shortly on the show. Heres a favorite story. This for automotive say they are working on a battery that charges in one minute flat. That would be a game changer. As a pieinthesky dreaming . Fisk or ceo is on the show at 9 45. Nascar driver martin truex, winner of the 2017 championship. Is the new jersey resident. Im going to ask him. With all that money is going to lose half of it. Hes on the show at 10 45 this morning. Bill bavasi says there is no question that bill clinton scandal happened today he wouldve had no choice but to resign. You will hear it after this. Stuart whitest Campbell Soup stop going to do today . It is going down. Less money coming in. Big v8 vegetable juice is not selling well apparently. It is down 7. 5 , ouch. Poor mel makes skippy Peanut Butter, but they are most famous shortly for spam, which i was raised. Good for them, 3 . Forget the ketchup. President toms crackdown on sanctuary cities has been permanently blocked by a federal judge. Harlan hill is here. Update us. Absolutely. You know why this is happening, why the courts are injecting themselves into big american political policy . It is because democrats cant win. Judges have become activists. They become legislators and thats not the role of the court. Its because democrats have no role in running this country come in legislating that scale because they lost across the country never state house and at the federal level. Absolutely. The wording here is there is a permanent injunction the antisanctuary cities all across the country. Is that right . Im not a legal expert. Its outrageous. If anyone thinks this Justice Department is going to take this laying down, they have a surprise in store for them. They will fight this tooth and nail because they should. They decide they will slowly come to expect in President Trump ran on in 2016. This is a showdown in the making. Stuart good, wanted to address strong words for a very liberal guy, mayor bill deblasio talking about president bill clinton. Roll tape, please. Today there wouldve been a very different reaction. I dont think you can rework history. If it happened today, if any president did that today, he wouldve had to resign. Stuart what you say . There was bill deblasio in 2016 to go back to the white house. Where were you . You are right, but why has it taken you so long to come to this realization . Theres nothing new in the allegations against bill clinton. Weve known for three decades ideas and not as a sexual predator. Stuart the wave of Sexual Harassment allegations has reawoken what happened 25 years ago. Stuart at not even that. Democrats now know they cant defend around. No one is safe from this. If you have committed this sort of act, you are held accountable even if you are a democrat. Stuart used to be a supporter. Pretty hard and not now, arent you . You know weve got Donna Brazile on the show 1130 caught this morning. She says it broke her heart to tell Bernie Sanders that hillary had an unethical advantage over him. What do you make of that . It broke her heart to tell bernie that hillary had advantage over him . Donna from a 7 million voters switched over to support President Trump in 2016. Thats a decided this election. A big reason they made this decision was because people like you didnt take a stand for antiestablishment candidate like Bernie Sanders. Thats why democrats lost the white house. I respect you. I respect her for taking a stand now, but its too little too late and the Democratic Party is in total disarray. Ultimately, that is at her feet because she was in her position and authority to do something about this when it mattered. Stuart do you think she has some responsibility for democrats been in total disarray . Absolutely. They were integrals of President Trump winning this election. If theyd just given him a fair shot and listen to his popular nationalist, sometimes socialist if they had given him a shot, he may have been president of the United States. I think he had a better shot than Hillary Clinton did. Stuart fascinating. Harlan, you made your mark. Thank you very much indeed. You are staying with us. You are on a roll. Nice touch they are. By the way, she will be on the show. Donna brazile on this program today about 11 30 eastern time. Lavar or more, of ucla basketball player who was detained in china for stealing sunglasses is not the unit with chris cuomo wont give President Trump any credit for getting this done as contempt for president. You will see at all after this. Stuart former new york jets Football Player talking to cnn about the president. His son tommy ucla player of angela ball and two others facing several years of jail time for shoplifting and then President Trump intervene. He has something to say about that. Roll tape. What did he do for my son . Anybody who speaks to the president. This is the president of the United States. It doesnt take much as they thank you hereby ones they thank you . If somebody does something for you use a thank you. They thank you. Which is your last name . You want me to thank you . You kind of air again. If they invited you to the white house, would use a thank you then . Heck yeah, if he invited me to the white house. Did you think the doctor for bring you into this world . Forgive me, but this bald guy is an looking for his 15 minutes of fame. His son had the decency to come out and then President Trump. His son did it. Meanwhile, his father is acting like a child. Even cuomo on cnn had to push back on him and say why cant you just thank the president for saving your son from 10 years of imprisonment which is why this kind of crime gets in china. This wouldve ruined his life in President Trump did the right thing and provided compassion and support a win out of its way to bring him home. Stuart i am going to dig into this. He hates President Trump. Course he ds. Its the aogance. No once have heard him apologizeor his sson actions. They are representing the United States and china. Althing president xi, but not President Trump. Outrageous. Liz of President Trump did nothing, he would be on television complaining about the president not doing anything. He is completely clueless about how rough china is under the law they are and what his son would have faced, completely clueless. Ashley his son think President Trump. Stuart he just could not bring himself to say anything nice to or about President Trump. Ashley even when pressed. Trade for good on chris cuomo depressed back. Stuart one of the hardest in the news media in President Trump and there he was defending President Trump. He was in exactly attacking him. Why even have this guy on . Hes just looking for a little bit of fame, trying to take advantage. I dont think this is anything more than the same scheme. Thats what this is. Stuart a decent last word there, hell. How about this. Watch out. They forecast weaker profits ahead or do you do that come and go kill you. Down 20 on the stock is 60. The shoe retailer, psw lowered and look to the future, not so rosy, down it goes, 13 of the opening bell. In contrast to the overall market, which will go straight up this morning. And for about five minutes, wall street will go up triple digits. Solid game for the s p and a mere 30point gain for the nasdaq. The market after this. [lance] monica, it is absolute chaos out here gale force winds, accumulations up to 8 inches. Dont know if you can hear me, but [monica] whats he doing . [lance] can we get a shot of this cold front, right here. Winter has arrived. Whooo hahaha [vo] progress is an unstoppable force. Brace yourself for the season of audi sales event. Audi will cover your first months lease payment on select models during the season of audi sales event. Looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Stuart alright, everyone. 20 seconds to go in the market will open. Ill tell you right now we open on the upside. A triple digit gain for the industrials. No fresh word on tax cuts and whether or not we get them. I think the market is moved by some very encouraging news on the economy for next year. 9 30 Tuesday Morning already had 70 thats yesterdays actually. 84 points, 80 points, 91 points, up, up, up. The prevailing word is up about a third of 1 . S p 500 is also up about a third of 1 . Exactly 31 . Nasdaq in early going alltime high. Press the button audio. Thank you. Alltime high of 31 points and a half a percentage point on the upside. Quick news items or the Justice Department to sue to block att from taking time warner could did time warner could did it would give one company too much control in a rapidly evolving media landscape. Serious did i say serious . Ashley you did. Trade to higher sales of Urban Outfitters up 1 . Strong sales and profit outflows getting beat by home depot. That is why lowes is down 2 . Look at this. Palo Alto Networks make a cloudbased security, Strong Demand for that. Up nearly 8 . Listen to this or the price of gasoline National Average 2. 53 per gallon. I cant believe this, but its true, that is up 40 cents a gallon nationwide from last thanksgiving. How about that. Forty cents a. Joining us, who was with me . Elizabeth mcdonald, mike murphy, aaron scott martin. The Federal Reserve looking down the road see much stronger Economic Growth, well above 3 next year. Is that what this market rally is all about, mike murphy up 112 now . It is. People feeling good about the overall economy, the direction regulation is going in the administration is going and Solid Earnings out of a lot of Companies Across several different actors. When people say the market can go up anymore, one of the biggest mistakes that the market can go up and will go up further. Stuart the Federal Reserve making forecast a much better growth next year without taking into consideration any possible tax cuts. Factor in the tax cut. Stuart that would also and for rate increases. More to come. Rate increases i believe are good things with a normalized level. We should be at the level we are currently at. Stuart you are not bothered if we get a few rate increases that doesnt worry a stock investor . Im loving it. Mike murphy is right. An environment where we should have Interest Rate starting to normalize in my opinion a year or two ago. One of the reasons janet yellen is going byebye because probably going to normalize the Interest Rate curve as they should because of the fact mike highlighted the Better Business and consumer optimism. By the way, record highs in the stock market. Stuart by the way, up 114 points. 23. 5 is where we are. The Justice Department sued to block at t from taking over time warner. Scott, let me get back to you real fast now. Do you think this changes the whole outlook in the future . In media . Absolutely. This is a hat scratcher. Im not sure what the doj is looking now. If this is cable circuit may be run by birth which im not going to give away or maybe 15 years ago, i could be this needed to be blocked. With the cord cutting going on, proliferation of services online, it seems odd the doj is taking such a deep stance against this. To me this risks other media mergers that off base with what the doj is saying. Ashley what about comcast and Nbc Universal which wouldve gone through either. Transfer aside the government going after ibm and blew that up in the government going after netscape and microsoft blew off netscape and block buster. Stuart my interest and thats what i would hope the merger would go through, and that cnn would be off from time warner and finally find out how much cnn is worse. Scott mentioned that they had scratcher. This combined company would be going up against netflix, going up against apple, amazon. Some good competition there. Very strong competition. A Little German and there. Walmart going headtohead with the amazon in ways you might not even think about. Consider this. Jet. Com owned by walmart. They are reportedly offering extraordinary perks to get qualified staff like three weeks of paid time off right at the start of the year weekly in office happy hours. All new parents give form and the paid leave. That is a pretty strong that means talent is short and hard to come by. Offering the world to get them on board. Am i doing the math right . Two full years of paid leave. Walmart is doing a great job going up against amazon. Liz go ahead. I still like the retirees in their rv solid amazon ran the country. Its great people are working. Amazon is taking over so much of what we do and walmart through their purchase of jet. Com which is a startup, Company Three years ago finally taking the fight to amazon so now its a two word race there. That helps all of us. Stuart walmart, amazon. Hold on, more and walmart. Reportedly inventing, and the right word come a better word, a cantaloupe that stay sweet yearround. Tomatoes they yearround. Tomato staking shipped long distances without rotting. A yellow skinned watermelon. Cant wait. Further touch flavored pickles. Ashley i have tourettes. I shout things out. Stuart is walmart the principal adversary of amazon . Would you say . It is. One thing weve learned is the world is big enough for both of them. The problem is the world is enough for two of them and nobody else as weve seen with other retailers. What walmart is coming up with, that sounds really weird and gross. Maybe more of a publicity stunt to get people talking about the ingenuity walmart has versus but ashley was talking about. Liz wait a second, whether youre disagreeing with . Liz its a one horse open sleigh ran by in the sun. This is about price cutting. The war of the algorithms, amazon has a more powerful robot that basically under cuts, scrapes prices off the competition and immediately undercuts insides of a firewall to Block Companies like walmart from finding out what their pricing is. Its amazon. Stuart and so a. I would. Both of these companies are trying to figure out how to attack the grocery market. Amazon only controls for of the nationwide grocery market. Walmart or amazon can figure out how to get groceries to you. Thats a major advantage for both and it gives a lot, they can get 20 of the market, talking about half a billion dollars in market cap. Theres a lot of money there. Walmart is trying to figure out how to play with the amazon. Im fine with it. I like it and i would be a buyer of walmart over at amazon. Stuart walmart is 1100. Check the big board. Not quite the height of the davidow moused up 121 points. 23,552. Individual stocks, lets have a look. Campbell soup heard a weak demand for v8 vegetable juices. Down 5 . Better profit and for now, better sales, to. They make Peanut Butter skippy and they make spam. You had that when you were a kid. At school. America said britain was spam. When i was little boy we had rationing and i was eating a lot as man. Sorry about that. Id say i had spam this morning but nobody would believe it. The interesting thing is the one thing walmart does have that amazon is still trying to figure out what the whole foods merger is location. They are doing the trick walmart is doing last week at raising prices online to get people into the stores. People in the stores to pick up the stop shop thats going to work. Train too quickly, said in quickly, cigna jewelers weak profit forecast is a problem. Down it goes 23 . We profit and sales that the shoe retailer dfw lowered their outlook down 13 . Home depot is a dow component alltime high yesterday 170 as of this morning. I think that is another alltime high. 9 40 eastern time. The men in the box behind my shoulders have to say good night. Got to say goodbye to one and all. Great performance on a Tuesday Morning. Check the big worry. This is the high of the day up 125. Dont you love it . A you see berkeley Computer Science professor makes a Youtube Video about the dangers of drugs. The professors message . They could form a Killer Robot Army and attackers. We will present you with the story. This is a Big Development for electric cars of israel. Pfister automotive working on a battery. Plug your car in for one minute and you are fully charged. That is a game changer. This kerr ceo will tell us how it works and when it is coming after this. Stuart we are up to half a percentage point. 130 points to be precise. 23560. Chinas tech giant has surpassed facebook in market value. Nicole, give me the numbers, please. First of all, social apps, we chat, games and a big deal is this tech company in asia surpass the 500 billion market cap. Based on the number five spot to day up 3 . What holds the top four spot . Apple and also alphabet, google, microsoft and amazon. Stuart thank you indeed. Survivors of the Las Vegas Massacre suing mandalay bay in the concert promoter. Whats going on . Liz 450 victims and witnesses who are at the shooting an event suing mgm resorts come mgm resorts come in the owner of mandalay bay saint inadequate security, improper exit at the concert site, lack of training of individuals of the staff, also suing the sugar estate as well. Basically suing improper or inadequate security. Five lawsuits in california, for private families are the biggest 1450 in california. The reason has a lot of victims came from california. Stuart we understand mandalay bay had not many people in it gambling, they dont know what the future of that hotel is, but now they are facing lawsuits. Thank you. A very big story. Car company fisk or as a car battery with the 500 range in one minute flat. That the big news. Joining us now is chief henrik pfister. One could this new battery deliver a 500mile charging one minute and how many years down the road . Working in the automotive business at about four to five years, however the Consumer Electronics and the Samsung Phone we expected to be two years away. Its got a graphite totally different. Flexible solidstate. Then its nonflammable. In a lot long will be smaller as though huge advantages. Philip then two or three minutes. Indeed a game changer. Ive actually done it. Have you done it in the laboratory. First and donate to fire up an electric car. Stuart you know what they mean. Have you done this or is this pieinthesky dreaming. We have built a battery not for the test come from. We are building the next batteries which will show at the Consumer Electronics show. Its actually quite exciting. We need of course an ultra charger to be able to do the because you will not be able to use a normal cable so we are developing a charger that comes in underneath the car. You dont need to get out of the car when you fill up in one minute and you would just be paying straight to the conductivity of the charging station. The fact is we will be showing this as well at the Consumer Electronics show in january. Stuart why are you going it alone . It sounds like a revolutionary product extremely valuable to the general motors, toyotas of the world. Why not install the technology. We are negotiating with companies and we actually dont even want to get that spread out because we need a great infrastructure to use these chargers and technology. Stuart any idea on the price. Four or five years down the road just got this in place. What do i need a charger that charges in one minute. The reason is we dont need as much cobalt which is very extensive. That means the electric cars ultimately will be cheaper than comparable cars. Stuart in four or five years time i can get my electric car which im very interested in by the way and i can charging one minute. That is a revolution. Henrik pfister coming thank you very much. An eyeopener. Appreciate it. Okay. That is what we call market scan. The dow 30. As you can see, 27 of them are out. Three are down. Including ge. 23574 of 144 points. 1130 eastern time that the debate wanted Hillary Clinton to win. Donna brazile and our third hour. Youve got to watch that. Mom our first concern was the kids. This was going to be hard on them. Chubb got us a place to stay in the same school district. Otherwise it could have been a nightmare. Dad. Chubb turned a disaster into an adventure for our kids. Mom. And no one missed a day of school. Or a little internet machine . It makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Stuart this just coming to us. House Speaker Paul Ryan has released a statement a report about john conyers. Here is my statement. This report is extremely troubling. Additional reforms to the system are under consideration. The House Committee on it frustration continues its review. Does not mention him by name and has not responded to our request for a comment. Congressman Bill Huizenga comer looking for michigan. Obviously, the punishment and the process is under review in the house. What do you think should be the punishment for a congressman, a politician who has abused women in the past . In this particular circumstance theres two issues here. What is the abuse in and of itself. To is using taxpayer dollars to cover it up and using what is called an mra, Office Budget to pay out over 27 to keep this person quite as outrageous. And its really installed on top of the injury. Stuart you want to get rid of it. When a member should be personally responsible for that, it is different when it among all possible in the office, and then are you going to allow a slightly different use of funds possibly, but when its a member of congress whos doing this than is found guilty, and that is very serious. Stuart that the whole point, found guilty. An awful lot of allegations and none of them have been proven in court to my knowledge. Maybe later. But have you worked that out . Transparency. We have to know what is happening. That means acknowledging which office is and what those settlements are in those kinds of things. I think there ought to be personal dollars involved in the settlements of it is that they member of congress. Stuart okay, now we are told there is more to come. Is that the buzz on capitol hill . That is very much to does. Talking to my female colleagues we know there is legislation looking at this from a couple of my colleagues, Ryan Costello and jackie speier, looking at how we deal with this and frankly how we deal with this as a society. There is a greater conversation happening and it should be happening and im glad its happening even though its an ugly conversation, one that needs to be had. Stuart you cant say this disappearing, resolution come i cant see that. I see this as a longrunning nasty story of great pain for so many women. I just dont see it going away. Stuart Sexual Harassment is not going its going to be around and thats why we need to take serious steps towards addressing it. Stuart extraordinary series of revolutions. Stuart the amazing part in one of those affidavit that says they use congressional resources to find people from washington d. C. And if thats the case you ought to resign. Bill hyde think republican of michigan thank you. We appreciate that. High tax states facing in accidents, a huge outflow of taxpayers who enters the question. How does Big Government survived with high income earners dont fund it . Thats not a lot of them very worried. My take on not after this your lineup. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. Before investing, consider the Funds Investment objectives, risks, charges, and expenses. Read the prospectus carefully at alpsfunds. Com amlp. Stuart theyre getting nervous. Lawmakers in hightaxed states face exodus of taxpayers, big trouble. How do they survive when the taxpayers that fund it leave . Heres the story. It is very likely that the tax package will get rid after deduction extremely valuable to high income earners. In states where taxes are high, the 1 will end up paying more. The democrats claim that the rich get all the breaks. That claim is laughable. And wrong. In new jersey, new york, california, illinois, elsewhere, they get a tax increase. You may have no sympathy whatsoever for that 1 . They are going to react. Like it or not they will react. They will move. The exodus has been going on for years. It is about to become a glad. Good. The high taxed states the jig is up. Taxing the rich wont work. They will move. Very high tax rate new jersey, the new governor wants to tax the rich even more. In a moment you will meet a leading democrat from new jersey who is publicly admitted he is very worried. The second hour of Varney Company is about to begin. Stuart you dont know who that is, i will tell you who that is. That is Brian Ben Berg and pete hegseth. Theyre both regulars on this program. Apparently, yes [laughter] theyre both regulars as you can see. Benburg and what is your name again . Hegseth. That is picture when they were nine or 10 years old. We will reunite them on the show. Which one are you. Im on the left. Bren berger, we called him. Is on the right. Ashley encouraging signs for the housing market. Although we still have a lack of inventory which surety hads. But overall, solid. Stuart that is helping good news on the economist. That is good news. Home sales are up. Liz home depot hit a record high. Stuart home depot hit a record high. The dow industrials are up 134 points. The Strong Economy really helps. Show me big tech stocks. What is going on with them . Most of them are higher or up. Facebook, amazon, microsoft, alphabet, apple in a upside in generally up market. Look at this. Very good earnings at palo Alto Networks. They had some strong upgrades. Citigroup, raymond james, rbc, barclays all came in, palo Alto Networks they are going up and they have. Eight, nearly 9 up. Other cyber stocks as we call them are up as well. Cybersecurity on the upside across the board. Look at palo alto up 9 . Record sales at Urban Outfitters. There is a retailer doing well. Theyre up just 40 cents, but that is nearly 1 1 2 . The gop tax plan gets rid of the federal reduction for state and local taxes. You know what that means. In new jersey the incoming democrat governor wants to raise the tax on millionaires, raise it afresh, anew, big tax, going from current 8. 9 to 10. 75 . Our guest, also a democrat, is not sure that tax increase on millionaires is a good idea. Welcome back our old friend, stephen sweeney, new Jersey Senate president. Welcome back to the program. Very good to see you, sir. Great to be back, thanks, stuart. Stuart what is youre worried about is exodus of upper income taxpayers who, if you impose this higher tax, will leave the great state of new jersey. Are you still going to do it . Well, we are taking a pause for one reason. We have to see what will come out of washington. It would be irresponsible not to put all these implications, all these things talked about and look at the total, see what were really looking at numberwise, stuart. Stuart price water house. Price water his come up with numbers how many people likely to leave hightaxed states if the state and local Tax Deduction. Northern new jersey would lose 10,550 of very wealthy people. Westchester, 4,000. These are high income people very likely to leave, leaving you with actually less money in your treasury. Well, stuart, that is why were taking a pause to see what is going to actually come out of washington. You know, new jersey, we cut the estate tax. We eliminated the estate tax last year. Actually, eliminated this year. We have raised threshold for retirement income, we have done things to try to make new jersey more affordable. We were looking, we were looking at millionaires tax to help fund education. Education were having a problem funding education now. Stuart i think youre going to Fund Teachers pensions and government worker pensions with the extra money, werent you . No. This was, strictly to get money into the classroom. New jersey is always top 3 in educating our children and it is important for to us do that that is why we are a highincome state. We have a smart population. Stuart okay. Now look, lets suppose, it is almost certain, that youre going to get the elimination of the state and local Tax Deduction. It is almost certain. It is right there. You know it is coming at you. Are you still going to propose a millionaires tax in new jersey . Because were interested, in these hightaxed states, are they going to be squeezed . Looks to me they are being squeezed . Looks like there is attack on higher income states, who send more money to washington than we get back. Right now, stuart, i hit the pause button for one reason. If this actually does happen, i am very concerned about the exodus of wealthy people out of these states that pay a large portion of our tax base. Stuart yeah. It is something we cant cavalierly go forward with, think, we dont have to worry about it, theyre always going to be here. Stuart no. I want, stuart, what happened to the deficit hawks though . What happened to the washington deficit hawks . Stuart im really talking to but the state of new jersey. What is going to happen to your state, if this deduction goes away, and you put in higher taxes . Even if you dont put in higher taxes, richer people are going to leave. You can see it coming a mile off. Stuart, we see it coming, youre right. The biggest problem is, you know, not just the wealthy will get higher taxes, the middle class will get banged real hard here. Stuart what are you going to do . This is horrible. Stuart what are you going to do . There is not much we can do with washington. Unfortunately we have one congressman, Tom Macarthur going along with it. But all the other republicans and democrats are standing together which they should because this is an attack on new jersey. Stuart but it is going going to happen. I dont like being hit. Frankly im thinking of moving to pennsylvania. I dont mind a twohour commute both ways at 4 00 in the morning. I can handle it. But i cant handle a 60 tax rate, sir. I cant. Well i agree with you. That is what our concern is. Stuart why dont you think about cutting taxes in new jersey . Why dont you do that . You get more revenue if you did that. You would grow the state, instead of shrinking it. We have, no you havent. We have stuart,. Stuart tax rates on new jersey, you havent done night we cut business taxes 540 million. Just like everyone talked about. Stuart how many years was that . Stuart, we did eight few years ago. We have eliminated estate tax. Stuart nobody pays in in the first place. Yes they did. Yes they did pay. Stuart two brains to rub together, two brain cells to rub together get themselves a fancy lawyer and you dont pay estate taxes. Stuart, we collected a lot of money in the estate tax. We eliminated it. It was real. That is why people were talking about stuart will you cut income tax rates in new jersey . If he lose millions of dollars that youre talking about, what theyre talking about, in taxes, taxes will be raised on average families by 2500 when they lose the deductions theyre going to get, how can you do anything . Right now we have to reevaluate where were going to go. Stuart cut taxes. Grow the state. Well, you know, something stuart works in florida. Why doesnt it work in new jersey. Listen, stuart we cut taxes for earned income tax credit. Raised it to 35 . We cut taxes on retirees. Raising exemption to 100,000 if youre married. So we have cut taxes. You know something, we looked to cut taxes wherever we can but this is going to be a major tax increase coming from washington just to a few states. And it is, states like new jersey and new york are under attack and california under attack by a conservative group in washington that couldnt stop talking about deficits when obama was the president but now, adding 2 trillion to the deficits is not a problem. And middle class tax cuts they claim theyre going to give us, ones theyre claiming they are going to give us expire. But the Corporation Taxes dont. Stuart okay. I hear you sir, but you got to cut taxes rates on income if you want rich people to stay. It is as simple as that really is simple. Steve, youre a good friend of the show. I respect and admire you enormously. Appreciate you being with us. Thank you, stuart. Thank you. Stuart not really fair on individuals, of course i am. It works. Liz he didnt answer your question. New jersey has the worst individual income tax rates and individual property tax rates in the country. Stuart yes. You cant get away with it much longer. Brian bremburg, this man knows business what do you say . Left always pretend tax rates dont change behavior. Theyre finally threatened with change, you can see them, oh, no, this will be a big deal. This will be attack on us. Hey, gets what . The net outmigration from places like new jersey, california, new york, that happened for decade. This will not change trajectory. This will accelerate what is happening. If they dont do something positive on taxes, this problem will pick up. Stuart cut tax rates on income in new jersey. Otherwise theyre gone. Behavior. People vote with their feet. Stuart we will. All right. Im running out of exasperation. Pete hegseth, i would tease during the commercial break. Hegseth is here. What do you say . Ironic as you said. They want to raise taxes on wealthy in new jersey, but howl to the moon about removal of the deduction of state and local income tax. It all matters. It is all money in the pocket of consumer either way. Theyre not focused on consumer or individual. Theyre focused how much money they take from the individual to fund their fantasy as local and state level. Stuart i got numbers from price water house, accounting people. New york city will lose 18,900 people. All of them wealthy people. Ashley where do they gain . Liz florida gain as about a quarter he have a million people. Stuart florida gains quarter of a million people. Texas gains 200,000. California loses 150,000. Et cetera, et cetera. Hightaxed states lose. Low taxed states win. They act like theyre the victim. They can solve the problem. Their tax rates are in your hands. Nobody is preventing from you doing that it is in your hands. Stuart pete, and brian to stay with me please. My exasperation will bleed over into the next a lot more to go. Slew of new allegations concerning inappropriate behavior. Another politician, two more big names in the media. Here is the question, what is the proper punishment for them if theyre guilty . Speaking of punishment, the father of one of the ucla basketball players released at request of President Trump will not change the president. Even cnn says he should have gotten a nice word in for President Trump. Well have details. Nascar champ, martin true truex, jr. , what would happen if a nascar driver decided to kneel before the National Anthem at a race . I can only imagine. Zar one of our investors was in his late 50s right in the heart of the financial crisis, and saw his portfolio drop by double digits. It really scared him out of the markets. His advisor ran the numbers and showed that he wouldnt be able to retire until he was 68. The client realized, i need to get back into the markets i need to get back on track with my plan. The Financial Advisor was able to work with this client. Hes now on track to retire when hes 65. Having someone coach you through it is really the value of a Financial Advisor. Stuart were about 40 points away from alltime high on the dow industrials. What youre looking at is alltime high for the s p 500, getting close to 2600, record high. Individual stocks that are moving, Campbell Soup is down. Weak demand for the v8 vegetable juice we hear, 7 lower. Signet jewelers, big drop in samestore sales. That hurts. Down 26 . I believe tiffany is also down today. Now this, house Speaker Paul Ryan releasing a statement following a buzzfeed report about congressman john conyers. Here is the ryan statement. This report is extremely troubling. Additional reforms to the system are under consideration as the House Committee on administration continues its review. He doesnt mention conyers by name. Conyers off has not responded to our request for comment. Former congressman from utah, Jason Chaffetz is with us now. What annoyed a lot of our viewers it is the taxpayer on the hook to pay for settlements when this harassment charges are brought. If a member of congress is breaking the law, why should taxpayers dig into their wallet in order to bail out congress . Members congress should have to pay for that. The members reimbursable allowance, 1. 3 million in the house, you cant use funds to fly some bimbo in youre having affairs with. That is the allegation. We dont know if it is true. If it is true, you can not do that. Whether that expulsion or you step down, that will go to the House Ethics Committee f that is true, bringing them in for really nongovernment business, you cant be using that money to fly people in to have relations. Stuart can you have a blanket punishment, that is applicable to all . In some cases you have got rape. In some cases you have got assault. In some cases you have inappropriate touch or kiss. You cant have the same punishment for them all, can you . There is no end to the creativity. There is always somebody doing something stupid somewhere. If you have something legally, something that is illegal, go through law enforcement. You dont need House Administration or House Ethics Committee to do it. If there is political problem, if they have gone outside of the bounds of congressional rules, then it goes through the Ethics Committee f a woman or a man who is assaulted go to the cops. Dont think that you can go to house admin, symptom staffer think youre going to get some form of justice. Stuart until noll too long ago you were an established member of congress. Yes. Stuart we are told there will probably be more revelations of activities of congresspeople still to come. Is that accurate . I would be shocked. This is the first time anything like this has ever happened. The place is largely run by 20yearolds. You have members of congress away from their families. They get lonely. Im not saying it is a good excuse. Buff im just saying atmosphere is there. There is power, there is money. There sin influence. And there is a lot of people that are in close proximity and bad things do happen. There has to be an avenue. No woman, no man, no matter what age should be able to put up with that. When youre parents are sending your kids to do internship, do something else, there should be exposure. Sending them into a predators office, i feel for those families. Stuart indeed. Coming up in our next hour, we have Donna Brazile on the show. Former interim chair dnc. It broke her heart to tell Bernie Sanders that hillarys campaign had an unethical advantage. Well get that out of her when she arrives on the set in d. C. What question would you like to ask her . If you were sitting in the seat, what question would you like to ask . What was the point then she decided i will stop helping Hillary Clinton start being being a fair arbiter. Donna brazile has a good reputation over the decades. She is coming clean on everything she possibly can. I do think the contract that Hillary Clinton had, joint fundraising agreement which most members of congress have, that is illegal. You can not be moving across money in order to get around the Financial Disclosure forms. There are the Campaign Contribution limits t sounds like they were coming up with a scheme to get around that. Stuart that was Donna Braziles book revealed that. You it did. Done in bra veal has nothing to do with getting those together. That contract the department of justice should look at. You cant put up scheme, give me the money, wink and a nod, well go ahead and i will have control with my own staff. I am glad Donna Brazile is doing this i think both parties need to look pretty hard how these things operate. Stuart i bet you are glad youre out of congress. It will be a good thanksgiving. Thats right. Stuart you have a great thanksgiving, young man. Thank you, sir. The Justice Department wants to stop the merger between at t and time warner. At ts chief says, the suit defies logic. You know, it sounds a little political to me. Well discuss it after this. If you have medicare parts a and b and want more coverage, guess what . You could apply for a Medicare Supplement Insurance Plan whenever you want. No enrollment window. No waiting to apply. That means now may be a great time to shop for an aarp Medicare Supplement Insurance Plan, insured by Unitedhealthcare Insurance Company. Medicare doesnt cover everything. And like all standardized Medicare Supplement Insurance Plans, these help cover some of what medicare doesnt pay. So dont wait. Call now to request your free decision guide. It could help you find the aarp Medicare Supplement plan that works for you. These types of plans have no networks, so you get to choose any doctor who accepts medicare patients. Rates are competitive, and theyre the only plans of their kind endorsed by aarp. Remember these plans let you apply all year round. So call today. Because nows the perfect time to learn more. Go long. Stuart if there is any doubt about todays rally let me insure this. This is a broadbased rally. That is the russell 2000. A lot of smaller companies. That is an alltime high, that that indicator just hit. The s p also at an alltime high a little bit earlier. As you know the Justice Department wants to block the merger of at t and time warner. Brian bemburg, i want to talk to you about this. There is a lot of speculation because President Trump has it in for cnn, he is being political about this merger, holding it up because time warner owns cnn is it political . I hope not because one of the best things the president is doing is pushing his deregulation agenda. That means getting politics and government out of these kind of decisions. If he is playing politics he undercuts this thing. There is no economic reason this merger shouldnt go through. This is defensive merger. It is not a offensive merger. Theyre trying to play catchup with amazons, apples. The Justice Department doesnt need to block this thing. Stuart are they saying if the merger doesnt go through consumers will be on the hook for much higher pricing of content . They say they will have limits to the content because at t will charge more money to other providers for hbo are we talking about the getting government involved to protect peoples right to watch hbo . Is that really a government issue . This is marketplace issue. The market can solve this thing. If at t overprices other competitors move in with better content. Stuart the market changed. Competition with amazon, apple, no knows what else. I have to go, but you stay. Okay. Stuart taxes all up to the senate now. There are a few senators who could use the opportunity to stick it to President Trump. Were very much on that story. Stuart i believe this is the high of the day for the dow. It is up 156 points. That puts it 14 points away from the alltime closing high on the dow industrials. Big tech, that is where the money has been flowing and it is flowing in today. Major gains for all of them, microsoft, dare i say i own some. It is up a buck 83. 83. 68. Higher profit at lowes, the Home Improvement retailer. However the stock is down. Appears home depot, another Home Improvement place outperforming lowes. Home depot hitting another alltime high. Big contest there. Look at ge. Sorry to say theyre in the 17, no, they just hit 18 a share. Liz turnaround. Stuart not exactly robust, is it . Moving on. What have we got . Hightaxed states facing an exodus of high income earners if the tax bill goes through. New Jersey Senate president sweeney here earlier on issue. Role the tame. Im very concerned about the exodus of wealthy people exiting out of our state that pay a large portion of our tax base. It is not something we can not worry about they will always be here. Stuart a republican from very hightaxed state. He has often appeared on this program, his name is tom reed. You must be very, very concerned about this exodus because it is coming. No, absolutely. I had a direct conversation with our governor. He express ad concern about it, but as i told him, this is the problem with the class warfare of the 1 have to pay their fair share. When you drive the 1 out of our state, that is a huge tax budget hole that is puts on our residents and on people across the state coming out of albany. But the bottom line is, im fighting for people we represent, western new york. Theyre not making a Million Dollars. Theyre making on average 40,000 a year, stuart. The tax reform bill we passed will give them immediate relief. Stuart you will be very much in favor of this tax reform deal, because the people in your state will benefit mightily from it. Other people in your state, the 1 , will get just murdered. I have got, that, euphemism. They will be hurt financially, lets put it like that. I have got figures here from pricewaterhouse that Shows New York City will lose 18,900 highincome taxpayers. Long island, 4600. Northern new jersey, 10,000. Westchester, fairfield counties, 3,000 people will leave. Thats really devastating for, from new york itself, new york state. So my question is, why doesnt new york start to think about lowering taxes in the state . Why not . Stuart, absolutely. Well have to deal with the real coot cause of the problem in the state, high taxes. This mass exodus, well see results of Political Class warfare have real consequences this is what it is all about. We can no longer hide from problems we face in new york, high taxes, high spending. Stuart your guys, your constituency are okay. You have the 10,000 exclusion on property taxes. But so far nothing, at all, your state and local taxes, you can no longer deduct them. That is the way things stand now. Do you think that changes at all in the final version . I do believe there is room to negotiate more. Maybe a little bit higher on the property tax or even bringing in income tax side of that equation people can deduct at state and local level. It will not be exorbitant. It will not be for high income earners. Well target the relief as we continue these negotiations for hardworking americans, the folks in that 50,000 to 250, maybe 300,000 tax bracket. But at end of the day, well have to deal with the problems we face in new york. Out of control spending leads to out of control taxes. Stuart i know youre in the house. But i want to ask you a question about the senate. Start with the statement, i cant believe that the Republican Party around the United States senate will turn this down, and destroy the Republican Party in next years elections. Therefore, im 90 sure that the senate will get something done. How about you . I am even maybe even higher than that i know tax reform needs to get done and needs to get done by the end of the year. We need to show relief to the American People. We have to start the economic engine and make america open for business. Stuart from what youre hearing, tom, from what youre hearing on inside here, you agree, definitely going to get something done . I agree. I have said it before. I am 100 convinced, well deliver tax reform for the American People by the end of the year. Stuart tom reed, always a pleasure having you on the show. Were indebted to you. You have been with us through thick and thin. Ive been very harsh to you. I know i have. I apologize profusely, but i think youre all right. Is that okay . That is fair criticism. We appreciate it, stuart. Happy thanksgiving. Stuart yes, sir. To you too. Brian brenburg, what do you say . I got to be honest. I can not see the day when new york or california or new jersey will actually lower income tax rates. I cant see it. If it is ever going to happen because they will get into this situation where the support is pulled away, basically you need to fix it or the rich people leave, the productive people leave. Value creates to leave. This is the kind of experiment we have to have in this country, or we will not get changes in the states. Stuart people in texas and florida are ashley look at individuals coming in, tremendous. Stuart they win. These numbers from pricewaterhouse, we had them earlier, liz, dallas will gain 86,000 people, high income people. Austin, 42,000. Et cetera, et cetera. Really extraordinary stuff. Guess who is with us now . Yes it is time, 10 36 precisely, fox news radio simulcast Brian Kilmeade with us right now. All right, brian, first story, the father of a ucla basketball player who was jailed in china allegedly for shoplifting, the father, now going after President Trump for his role in getting his son released. Bear with me, brian, i want to roll the tape so our viewers can see. Roll it. I dont have no doubts about what he did. I got doubt what is he didnt do, how is that . I would say thank you if he put them on his plane, took them home. Then i would have said, thank you, mr. Trump for taking my boy out of china and bringing them back to the u. S. There is lot of room on that plane. How do you know, how do you know it wasnt involved . Before i even knew that. He didnt even know they was over there, like that. What is reason for him going over there in the first place. What are you trying to say . Wasnt like he was in the u. S. , said, okay, there is three kids in china. I need to go over there and get them. Okay. Stuart my Production Team tells me that the father, there is a little controversial to start with, but what do you make of this . Well, President Trump is seen with the sports world last three years. His son got drafted number one by lakers. The other son is at ucla, the one got shoplifting. Another son coming up. He is oppressive Richard Williams dad with seemingly great kids but their dad is out of control. He is now, the president has gotten levar ball into the news world. He was totally unhinged. I watched that whole thing live. I dont even know if he believes what he said. He does not know why the president was in china the area . And if the president , what was he doing there to begin with . Why couldnt he hop on air force one . Well the problem was, the president doesnt usually pick up shoplifters to bring them to the philippines and vietnam after. Im not really sure. If ucla suspends you dont get to ride on air force one. That is not reward for stealing 2,000 sunglasses. For the father to say i grew up in southcentral, ive seen a lot worse than shoplifting. Im sure you have, but i never seen explanation and cover. His kids made him proud the way they apologized. I looked at kids apologizing 18, 19, 20. How do many other kids make big time mistakes at that age. They looked very sincere. My hope the president does not tweet the guy again because we will be forced to talk about him again. He is unhinged, illogical and bizarre. Stuart you are absolutely right, brian. Dont mention him again, mr. President. We dont want to talk about this, you got it. As you know, brian in the next hour, on this program, my program, we have former dnc interim chair Donna Brazile. What would you ask her . What would be your question to her if you were in my position doing this show . Read the whole book. There is so much more explosive stuff in the book then been brought out in press releases she is tempted to walk back because the imagine the blow back is so strong. How about this . The fact that barack obama left the dnc 28 million in debt. How about on the midterm elections in 2014, he was asking for a loan from the dnc, money to work ondown ballot tickets. Donna brazile saying we have no money. Barack obama could raise money by drop of the hat. Why dont he raise his own money . Debbie Wasserman Schultz has to be worst ceo of anything ever. She did nothing to grow the party. Did nothing but destroy it financially. Allow people to suck money out of it. That is pretty much why the republicans were able to dominate on every level. Donna brazile is somebody who wants to shake hands and put up yard signs, understands people, looked them in the eye. Hillary Clinton Campaign wanted to work the flow charts and pie charts. Every time she brought anything up about interacting with people, they looked at her like she was a dinosaur. I was insulted for her reading this book. She is what is good about politics even though not perfect. But she wanted to get out there and work. They wanted to get out there and stay on computer and looked at people as numbers. I really think she did a great thing for politics by writing this book. I know she is not perfect. I think she should stick to what she wrote, dont let her back out of it. Stuart brian, i see if i measure up to your anchoring standards. Tell her to do this show too. Enough about stuart varney. What about the Brian Kilmeade radio show . Stuart never enough stuart varney. Panel has to agree with you. They wont be asked back, i know the varney rules. Ashley thats right, mr. Varney. Stuart you know the rules. Kilmeade i do think youre all right. I have to break away. Im sorry, i have got breaking news out of venezuela. I have got to get to that. Reports the president , acting president i should say, oil Company Citgo has been detained in caracas. Liz that is the correct, showing insidious move full bore by russia into venezuela. Sit citgo was exempted by the sanctions on trump administration. Venezuela in dire straits, needs money. Needs russias help. Russia wants citgo. They will post citgo assets for loans from russia. Russia is in venezuela such a big way. Military hardware, oil, assets. Basically venezuela putting up sit citgo to tell so russia. That is the bottom line. Stuart venezuela detains citgo head in caracas because russia wants citgo, the asset . Liz owned by pedevesa. This is only successful unit of pedavesa citgo. Russia is in a big way. Talk about russia in crimea, russia is moving into venezuela. Stuart Oil Production dropped 28year low. Has more reserves. Cronies run the oil companies. That is what happens in socialism. Coming up straight from the track, nascar champ, martin truex, jr. , dont miss it. Here he is comes. I think its terrific. Your kids go to college and you start trading. Yeah, 5 years already. 5 years, hmm. You ever call your broker for help . Once, when volatility spiked. And . By the time they got me an answer, it was too late. Td ameritrades elite service team can handle your toughest questions right away with volatility, its all about your risk distribution. Good to know. Thanks, mike. We got your back kate. Does he do that all the time . Oh yeah, sometimes he pops out of the couch. Help from real traders. Only with td ameritrade. Ashley car company fist hears pattened ad fisker, a car battery that can be charged in one minute with 500mile range. The ceo told us when the battery will be available. In the automotive business, probably looking four to five years. However in the Consumer Electronics, lets say iphone or Samsung Phone we expect it to be a few years away. Stuart is this a brand new type of bat remember i, called i think, graphite or graphene bat rememberry . Its a brand knew battery. That is flexible solid state battery. No liquid in the battery. No liquid electrolyte. It is nonflammable. It is 1 3 of price of todays batteries. Its a lot more dense. That means the battery will be smaller. So there are huge advantages. Stuart check the big board, ladies and gentlemen. That is the high of the day i do declare, up 164 points. 23,594. Im doing the math. Were eight points away from the alltime record high for the dow industrials. Now this. Nascar racer, martin truex, jr. , beat kyle busch in the final laps to win his firstever nascar championship. The guy is with us now. The his name is martin truex, this trophy, the giant structure is right next to him. Is that the trophy . This is mini replica. Stuart mini . You do things big in nascar. It is huge. Stuart this is series. It is end of the series, end of the season so to speak . Yes. This is basically we won the championship for the end of the season. Our championship playoff race is 10 races at the end. So last one was this weekend. Stuart youre the man . Youre the champion. The champion, first time ever, feels unbelievable. Stuart do you like it . Love it. Drive cars for a living. Stuart i interrupt my own question, when you walk the streets of new york city, do people say that is martin truex, jr. ,. I had three of those today. Pretty good day. Stuart what happens if it was in South Carolina . Probably more than three. Stuart can you walk down the street . Oh, absolutely. Stuart do you like it . Do you like being center of attention, the champion, the man . Im not sure. Still sinking in. Only two days old. Trying to learn about it. Stuart what would happen, at nascar, if a driver took the knee at the National Anthem . Well we have not seen it. I dont think we have to really worry about it. That is one of the things about our sport, very patriotic. Huge military fans. Just have those guys at racetrack all the time. I dont know that it is something well have to worry about. Stuart what is the average speed going around the track . Depends on the track. One we raced at where we won the championship, would be 180 range. In the 180s. Miles per hour. Stuart i dont want watch nascar. Im sorry to say. I know it is on fox. I dont actually watch it. Ashley yes. Stuart so, 180 miles an hour, youre inches from the competition. And sometimes inches from the wall, yeah. I think the fastest i ever been in stock car about 220. Cars are fast. Its a lot of fun to drive them. Theyre big heavy cars. 34, 3500 pounds. Not like a little time any car that is really right and low to the ground. Theyre quite a machine to hustle around. Stuart it is all about tactics, isnt it . Sure. Stuart i dont understand what is going on besides going around and around. Tactics when to make the move, when not to make the move . Technology in the cars to make them go faster and handle better. Our races are won and lost through the corners. Whoever foes through the corners fastest, basically same rules, tires, within a few horsepower. It is very, very technical. There is a lot behind the wheel you have to learn. Stuart when you are going around a corner, tight corner, do you slide . Yeah. Stuart you do . A lot. Stuart how do you control it . The key is to make your car slide less than anybody elses. That is where Technology Comes in. Stuart are you aware of teslas new roadster which goes from zero to 60 in 1. 9 seconds. That is pretty quick. Stuart faster than your car . Top speed, im not sure, what is the top speed . I have no idea. Acceleration, that is the point, isnt it . I dont know, yeah, that is pretty impressive for electric. Stuart can you see the day when nascar goes electric . I dont want to talk about that. Stuart why . I love the smell of race fuel. Stuart oh, that is good. Are you working for yourself or do you belong to a team, represent a team, a car company team . Yeah. I represent toyota. Toyota is our manufacturer. My team is furniture racing in denver, colorado. Were only team not in north carolina, based in north carolina. Pretty cool story. Stuart our producer has done research. Top speed of the roadster is 250 miles an hour. That is pretty quick. Stuart you could win a few races, couldnt you . No, because it wouldnt to 500 miles. [laughter] stuart got to ask you, i think youre a good man. You founded a foundation with and for your girlfriend. Tell the audience please. Well we actually started our foundation in 0. A long time before sherry dealt with her cancer, diagnosed with her cancer. Her and i both had great childhoods, great families. Grew up being able to kind of lead a healthy life and, had all the things we needed growing up to become successful, right . We started a foundation that focused on children at first. Did all kind of different things. Abuse, neglected children. Sick kids. We did some cancer stuff in the beginning. We for whatever reason we kept going down the road pediatric cancer, meeting family and children and their stories and inspiration they gave us. Come to find out in 2014, sherry got diagnosed with Ovarian Cancer. She is battling that. Our foundation deals with pediatric and Ovarian Cancer because what she has been through. Stuart welldone. You live in new jersey . No. Im from new jersey. Stuart from new jersey. Going to ask you would you be prepared to pay more than 50 of the your income because of joys of living in new jersey . If i hadnt moved yet i would be moving now. Stuart i knew i liked him. You can come back any day you like. Thank you, sir. Real pleasure. Of the martin truex, jr. , a champ. Good man. Thank you, more varney after this. Brighthouse financial established by metlife. Thats why feeling safe is priceless. With adt, you can feel safe with an adt starter kit professionally installed for only 49. 00. Call today, and install an adt starter kit that includes security panel, keypad, key fob, entry and motion sensors and for a limited time, get a camera included and installed at no additional cost. Thats a 449. 00 value, installed, for just 49. 00. Adt has over 140 years of security experience, with our commitment to customer service, and roundthe clock professional monitoring, you have the comfort of knowing that adt is helping to protect what matters most. Call today, or visit adt. Com to get your adt starter kit installed for just 49. 00. Adt. We help keep you safe, so you can feel secure. Call 1888337safe or visit adt. Com and get your adt starter kit for just 49. 00. Or a little internet machine . It makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Ashley we have some breaking news for you on john con conyers from michigan. Hes told an Associated Press reporter that he never settled a Sexual Harassment complaint with any staff member. There was a report that he had settled with an exstaff member who denied or did not succumb, reportedly, to his sexual advances in the amount of 27,000. Now were hearing that john conyers, the republican congressman the democratic congressman, rather, from michigan denying there was ever any settlement. Of course, well have more on this and more varney after this, including an interview dont go away with Donna Brazile. Well be right e back. Fidelity, where smarter investors will always be. Theres nothing more important than your health. So if youre on medicare or will be soon, you may want more than parts a and b heres why. Medicare only covers about 80 of your part b medical expenses. The rest is up to you. You might want to consider an aarp Medicare Supplement Insurance Plan, insured by Unitedhealthcare Insurance Company. Like any Medicare Supplement Insurance Plan, these help pick up some of what medicare doesnt pay. And, these plans let you choose any doctor or hospital that accepts medicare patients. You could stay with the doctor or specialist you trust. Or go with someone new. Youre not stuck in a network. Because there arent any. So dont wait. Call now to request your free decision guide and find the aarp Medicare Supplement plan that works for you. Theres a range to choose from, depending on your needs and your budget. Rates are competitive. And theyre the only plans of their kind endorsed by aarp. Like any of these types of plans, they let you apply whenever you want. Theres no enrollment window. No waiting to apply. So call now. Remember, Medicare Supplement plans help cover some of what medicare doesnt pay. Youll be able to choose any doctor or hospital that accepts medicare patients. Whether youre on medicare now or turning 65 soon, its a good time to get your ducks in a row. Duck quack call to request your free decision guide now. Because the time to think about tomorrow is today. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. Stuart why is Hillary Clinton still talking about the election . In the last month, hillary has blamed just about everyone for her loss. Everyone, that is, except for herself and the campaign she ranch in part, this surge of recrimination and excusesmaking is the result of a book. Its called hacks written by Donna Brazile. She was the interim chair of the dnc. She was right in the middle of it all. Shes been interviewed many times on television. She will be interviewed on this program a half hour from now. Why did she spill the beans about hillarys acing out Bernie Sanders in the nomination process . Senator warren says flat out hillary rigged it. As her friend and colleague for years, why did ms. Brazile turn on hillary with this book . Why did she reveal a question that hillary would be asked during a debate with bernie . Thats cheating. And why didnt hillary come clean and admit she was part of the cheat . Truth is, the election still fascinates. I dont think democrats even a year later accept the loss or to understand why they lost. It has split the party. The left is saying, hey, if you hadnt rigged the nomination, bernie would have been the candidate, and he might have won. Were not here to sell Donna Braziles book, were here to figure out the state of the Democrat Party and hillarys role, if any, in it. Donna brazile a half hour there now as the third hour of varney rolls on. Stuart yes, of course well get to politics, but right now were looking at money. The dow jones average, i think thats the high of the day, awfully close to the closing high of 23,602. The nasdaq, the s p also hitting alltime highs today. Why . We got some pretty good news on the economy. The Federal Reserve looking ahead and seeing a lot more Economic Growth coming next year. Peter kiernans with us, author of the book american mojo. The Federal Reserve, two separate fed banks, saying were going to get way over 3 growth next year. You agree with that . I do, and i think its a worldwide phenomenon. So they have got a lot of support both inside and outside the United States. We are in growth mode. Stuart growth mode, what would you say its going to be, 3. 5 . I think thats achievable. And the amazing thing if youd said that eight months ago, they would have said heresy. This is a case of serious momentum all across the globe. Stuart right now were up 172, 173, were at 23,602. That is an alltime high for the dow. S p, nasdaq, russell 2000, all the same, record highs. This is a huge gain all across the board. And you saw it coming, didnt you . Happily [laughter] stuart you did. Every once in a while you get it right. [laughter] stuart now, the retailers, im talking bricks and mortar people, Urban Outfitters, for example, lowes, dollar tree, theyre bucking the trend. Theyre looking towards a pretty good thanksgiving week and a pretty good christmas. Thats a state of the economy story really, isnt it . It is. And i think with retailers you have to be very careful and divide them into the haves and the have nots. And the haves have a moat they can put up against amazon, and that would include auto zone, walmart which is up 33 since the debacle last summer. The ones to watch out for are the flashes in the pan like macys which is up 9 this month but still down 40 this year. Stuart still, thats a flash in the pan . Jcpenney, up 16 this month, still down 60 this year. Beware. These companies are not going to die tomorrow, but they are not the kind of franchises that have a moat around them, and they will persist for a long time as sears and some others have. These are hard franchises to kill, but i wouldnt rush to invest in them. Look for a moat, and youll be safe. Stuart i think this is the year when amazon emerges as the company which is really dominating so many things. This is amazons year. No question about it. If you look at it, macys has been the dominant supplier of apparel in this country for the last 40 or 50 years. This year a new leader is going to sell more apparel than macys. That is stuart amazon. Stereo right there. Exactly. Stuart you know, theres talk that it gets to 2,000 a share in which case itll be worth a trillion dollars. I think its the first stock to do it because beyond the retailing is cloudbased computing. That is a dominant position, more dominant even than the retailing. Those combination of things will lift this stock even higher. I love this stock. I own this stock, ill admit it. I wish i owned more. This is a fantastic company. Stuart why are you still working . [laughter] the amazing thing is you could have this stock, its up about 10,000 since it went public. I owned it and i sold it. What a done. [laughter] stuart dont ever say that. Look, im intrigued at overall market rally and amazon, but ive got to deal with at t, time warner, the Justice Department blocking the deal. Some people say thats political because President Trump doesnt like cnn, and he wants to have a go at time warner. What do you say on this . I dont happen to love the deal. At t is a massive distributer. They are number two in the cell phone service, number one in landline service, they have directv. For them to get into content feels like a stretch. But this is the first time in a very long time that a vertical which is, say, a downstream acquisition has been so challenged. The last time one of these went to court was 1979. And by the way, spoiler a alert, the Justice Department lost. I dont think this is going to be something that is Sustainable Trust and what i worry about in terms of antitrust is if youre fox, for example, or youre disney looking at fox, youve got to be watching this closely because the consolidation, the concentration is happening. And you dont want to be unfettered. Why . Because my grandpa watched six different studios, the same six studios exist, but now netflix and amazon are spending more money on product and content development than those studios. The game is changing, and the regulators are behind the curve. Stuart fascinating. Peter, please stay there absolutely. Stuart because i want the move on to tax reform, tax cuts. Specifically, i want to talk about senators corker and flake. Both not up for reelection. Theyre getting out of politics. So will they try to stick it to the president and vote no on taxes on their way out for personal reasons . Congressman jim renacci, frequent guest, hes on with us now, republican from ohio. Welcome to new york. Glad to be here, stuart, always. Stuart do you ever sheep . Sleep . On occasion. Stuart senators flake and corker are at odds with President Trump in a very personal way, and so is senator mccain. Is it possible that the senate will drop the ball on tax reform because of personal disputes . Well, i hope not. Now, look, theres Seven Members now that theyre talking about that are uncomfortable with the tax plan. Its not even finalized or written stuart there are seven now . There are seven listed. Stuart raised objections . Well, theres concerns. When you can only lose two, it becomes a real problem. But its bigger than these individuals, thats what im hoping. This is about the economy, this is about people, this is about americans back home trying to make a living and, you know, just barely getting by, and yet weve got senators saying i dont like this and for personal reasons, im hoping not. Stuart okay. The senators are saying i dont like this, like ron johnson saying he wants a better cut for Small Business. Thats horse trading, isnt it . Go public with the criticism, see what you can get out of the senate. Thats to be expected, isnt it . Sometimes you go public just to get the idea that i have an idea. Look, i have ideas too, but in the end weve got to come together. Thats the issue i have. Stuart jim renacci, you are mad as hell at the senate because you think they might drop the ball and really mess up the Republican Party. I hope they dont drop the ball. We have a chance to be able to do something for the American People, and they need to help us get it done. Stuart i keep saying theres no way on gods green earth that the senate will reject bedrock republican policy and reject tax cuts. How crazy am i . Im hoping thats not the case, but i would have also told you when it came to health care that wouldnt happen either. Stuart yes, you did. You want to be reminded of that . No. [laughter] stuart we keep hearing allegations of Sexual Harassment by members of congress, and yet it is the taxpayer who funds these settlements. That doesnt seem right, and our viewers are outraged. What are you going to do about it . They should be and, again, im a business guy for almost three decades. We have Human Resources departments. We dont have that in washington. I think this all needs to be opened up. I wasnt even aware we were doing this. This is the kind of thing that ive learned over six or seven years. I think its time to open it up, lets have transparency. We should make sure that if theres issues, just like what would happen in the private sector, i think we disclose everything and show the American People whats going on. Stuart what business were you in . Im a cpa, but i also had car dealerships, motorcycle dealerships stuart really . A construction company. Ive done a lot out there. Stuart sir, before we go ive got to show these pictures to our audience. That is you riding your motorcycle past the Washington Monument with chris cox. Youre still a biker . Im still a biker. Stuart i almost said at your age. [laughter] jim renacci, always a pleasure. Thank you, sir. Appreciate it. Stuart coming up in 20 minutes, Donna Brazile, former interim chair of the dnc. In a new book, she says the election was rigged for hillary. Well, she doesnt say rigged, but she implies it. Im going to ask her why shes airing the democratic dirty laundry. Senator Elizabeth Warren refuses to answer whether al franken should step down other Sexual Misconduct allegations. Youll hear it later this hour. And President Trump says tax cults will be a huge christmas cuts will be a huge Christmas Present for millions of americans. I want to know if paychecks are going to go up immediately in january. Well ask that question to the white house next. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Stuart zimbabwes Parliament Speaker ss Robert Mugabe has officially resigned as president. Mugabe had been in power since 1980. His resignation came just as parliament was voting to impeach him. Righthand side of your lefthand side of your screen. Theyre happy. Mugabe is gone. Now lets head to the white house. Were joined by kevin hassett, chair of the council of economic advisers. If we do get a tax deal done, do paychecks for many, many people go up immediately in january . Well, i think that whats going to happen if we pass the tax bill and i think we will is that all of a sudden people start locating their plants back here in the u. S. And putting job listings in the newspaper, so wages will start to go up. But the whole 4,000 effect that came out of our economic report is going to happen over 35 years. So you wont see a 4,000 hike in january. Stuart if everybodys tax rate is cut, surely paychecks go up in january. Oh, they will get that as well, youre right. The tax cut part of it will go right into the paychecks right away, but then the wage increase is going to happen over a few years as Economic Growth picks up. Stuart come op, kevin, youve got to sell this thing [laughter] this is marketing 101. Im just an economist, stuart. Stuart the first thing you say is, hey, all you taxpayers out there, if you pay a dime in federal income tax, youre going to get a higher youre going to get a better paycheck come january the 1st. Guarantee it. Bank on it, baby, thats what tax cuts do for you. Yeah, thats really true. So the aftertax wage is going right up in january, and the stuart so get technical. Kevin. [laughter] you dont have to worry about little details. Youre gonna love it. How about millionaires, however . If you earn a Million Dollars or more, your paycheck goes down, doesnt it . Well, i think its going to depend on what state you live in and also the final details of the bill. You just covered that the stock markets are at an alltime high. If we get the Economic Growth and the Capital Formation were looking for, thats good news for everybody. Stuart sure. Quick question on growth. Two Federal Reserve banks looking to next year, they see much better than 3 growth, and they havent even factored in any kind of tax cut. Well, you do the work for us. You factor in the tax cut, and you tell us what growth rate can we expect next year. Well, right now weve got two quarters that were north of three. At the cea, our professional staff thinks the third quarters going to rise up, and the fourth quarters going to be in about the same area. I think its our view at the cea that all of the Capital Spending drawn back to the u. S. Next year is a reason for optimism that we can sustain 3 growth for a good long time. But an exact number is something youll have to wait and see the president s budget early next year. Stuart you do know that youre driving hightax states crazy, dont you . I mean, weve got im sure youve seen this, price waterhouse, the accounting firm, theyre saying 19,000 people will leave new york city, 4,000 will leave long island, 10,000 will leave northern new jersey. Its pretty bad. Yeah, i know, its breaking your heart, right . [laughter] stuart i live in new jersey. Yeah, i was born in new jersey too. The fact is that it shows what weve been saying is true which is that the federal government has put its finger on the scale in favor of the hightax states by having the state and local Tax Deduction and by eliminating it, then the states are going to have to compete against each other a little bit more. I think youre seeing that already where new jersey is thinking about not having an increase in their top marginal rate because they think people might leave if they do. Stuart youre a hero in texas and florida, but on the streets of manhattan, sir, youre toast. Kevin hassett, we to appreciate it. Good to be here again. Stuart former dnc interim chair Donna Brazile coming up in about ten minutes. I say the democrats, the party drifting to the left. Actually, its full speed ahead to the left, i think. Im going to ask her how she feels about that. Crews working on a renovation at the Seattle Space needle discover a forgotten time capsule buried in 92, supposed to be dug up in 2002. People forgot it. It contained menus, photos and 1. 50 ticket to the observation deck. The ticket now costs 22. [laughter] taylor swift, beyonce, adele, which one made the most money this calendar year . Stay there, weve got an answer for you. Stuart all right, here it is just comig at us, the fcc will vote to rescind the obamaera rules blocking and slowing down web traffic. Otherwise known as net neutrality. The fcc chair, ajit pai, is on kennedy tonight at 8 p. M. Eastern on the fox business network. Basically, this story is about a revolution about what you see, where you get it from and what you pay. Its a very big deal. Complicated but a big deal. A few minutes from now im going to be joined by Donna Brazile. I want to alert some of the headlines first. Broadway, oh, booming. Were halfway through the 201718 season, and ticket sales are up 18 compared to last year. I i think maybe thats got something to do with people wanting experiences rather than material things. Forbes released the list of this years highest paid women in music. Beyonce right there at the top of the list, 105 million. Others, adele, 69 million. Taylor swift, 44 million. Celine dion, 42 million. Jennifer lopez came in fifth at 38 million. How many of them lived in new york city and paid 60 tax rate . Very few. Listen to this, aaa expecting thanksgiving weekend travel to be the highest in 12 years. 50 million of us going to travel. Aaa says the flights are the cheapest theyve been since 2013. If President Trump gets a tax deal, that would be a very big win. What happens to the democrats in 2018 if he gets that win . Im going to ask former interim chair, dnc chair Donna Brazile. She join us right after she joins us right after this break. Did yon the National Debt . Ssman get elected by talking tough will they stay true to their words . Or did they promise you one thing. Only to do another . Right now, congress is talking about tax cuts that will add trillions to our National Debt and hurt our economy. Its time to tell congress. Dont borrow more money from china. And leave more debt to our kids. Keep your word. Tax cuts shouldnt add to the National Debt. Approaching medicare eligibility . You may think you can put off checking out your Medicare Options until youre sixtyfive, but now is a good time to get the ball rolling. Keep in mind, medicare only covers about eighty percent of part b medical costs. The rest is up to you. Thats where aarp Medicare Supplement Insurance Plans insured by Unitedhealthcare Insurance Company come in. Like all standardized Medicare Supplement Insurance Plans, they could help pay some of what medicare doesnt, saving you in outofpocket medical costs. Youve learned that taking informed steps along the way really makes a difference later. Thats what it means to go long™. Call now and request this free decision guide. Its full of information on medicare and the range of aarp Medicare Supplement plans to choose from based on your needs and budget. All plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. Unitedhealthcare Insurance Company has over thirty Years Experience and the commitment to roll along with you, keeping you on course. So call now and discover how an aarp Medicare Supplement plan could go long™ for you. These are the only Medicare Supplement Insurance Plans endorsed by aarp, an Organization Serving the needs of people 50 and over for generations. Plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. Remember, medicare doesnt cover everything. The rest is up to you. Call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. Go long™. Stuart all right, lets start with thi. The dow is at an alltime high or very close to it, it hit it earlier, 170 points higher, 23,600. Worth noting that the nasdaq, the s p, the russell 2000, all of them hitting record highs today. Right, lets get to our very special guest. She authored this book, it is titled hacks the inside story of the breakins and breakdowns that put donald trump in the white house. Donna brazile, welcome to the program. Great to see you with us, maam. Well, thanks for having me today. Stuart we really wanted to ask you right off the bat why do you think that Hillary Clinton lost . Well, i think there were a combination of factors. One, of course, is if we want to get past what happened in 2016, there are three things we should do. One, we need to acknowledge that the russian interference should not have played a role in our elections. And three and most importantly, every american should understand the threat of cybersecurity and to take prudent steps to protect their own identity, protect their own software and whatever else that they are using. Stuart i dont think she lost because of the russians or cyber hacking of the dnc [laughter] i think she lost because it was a lousy campaign well, that look, look stuart was she a good candidate . Look, i didnt run her campaign, but had i run her campaign, i would have ran it differently because i believe you run a campaign that is positive, and you run a campaign that brings people together, and i think she attempted to do that. But she lost. And while we can let litigate her campaign, and i do that in my book, i also, you know, accuse donald trump of really running a very divisive, a very corrosive campaign that is still having great implications today. Again, Hillary Clinton fell short in the electoral college. She won the popular vote. If we want to really talk about what happened in 2016, we have to talk about the russian interference because no american should be under attack from a foreign government. I was under attack. Many of my colleagues simply because they could take our emails, steal em its a crime and then use them to weaponize us to hurt each other. So i want to say this about Hillary Clinton who ive known for a long, long time, shes a dedicated, wonderful public servant. She cares deeply about this country. I wish she was in the white house, but nevertheless, i pray each and every day that donald trump is successful because i want my country to be successful and prosperous. Stuart okay. And safe. Stuart why did you give her the question or a question or several questions in the debate with Bernie Sanders . You were working for cnn, it was a cnn town hall. You knew the questions, and you gave them to hillary before the debate. You know, thats why so this is why i want your readers to read my book, because half of the things you just said is simply untrue. I did work as a political commentator, a pundit with a point of view for cnn. I was also the vice chair of the Democratic National committee. Cnn never provided any of us, pundits or anyone else, with questions in advance. What ive said in the book and personally over and over and over and over again, wikileaks sought to discredit us. They only, they only put forward emails that were sent to Hillary Clinton. You never saw emails sent to Bernie Sanders or Martin Omalley stuart did you tell her the question . I was stuart you did tell her the question in. I gave both cates heads up that we were going to have additional town Hall Meetings and forums, that we would have diverse audiences, diverse questions stuart you didnt sir, hold on, i said i gave both campaigns hates up that we were going to have more town halls, more forums, and i apologized that the American People only saw what wikileaks wanted you to see because they did not show you everything that i did to make sure that we had Diverse Communities and that these questions and these very important topics would be addressed in to 16. Stuart the clintons, bill and hillary, theyve been at the center of american political life for a generation all the way back from the late 80s to the early 90s. Thats a very long time. They now appear to be, reluctantly, leaving the stage. Conventional wisdom has it that theyre done. Do you agree with that . Bill clinton was in puerto rico yesterday. Hillary clinton, while i dont know her whereabouts today, i dont believe that any american the bush family should not leave the stage, the obama family, jimmy carters family, Ronald Reagans family. Every american who has served in this capacity should be able to continue to help the American People, to help us internationally. And while Hillary Clinton fell short in the electoral college, theres no question i still believe she would have made a far better president than donald trump. Stuart the 25th anniversary of bills election, the event was held in arkansas over the weekend, i believe. The two were together, and hillary was saying she thinks that trump is obsessed with her. [laughter] i checked the body language of bill clinton [laughter] he didnt seem too happy about that, you know . He seemed, oh, dont go there, hillary, dont go there. Am i mistaken . Well, i didnt see it. Over the weekend i was in my beloved louisiana are celebrating for the first time the election of our first female mayor. Now new orleans follows in the same footsteps stuart yeah, okay. You didnt hear anything about the 25th anniversary of bills election . You dont know anything about that . I was invited, but i chose to be down this my stuart bill and hillary are like this, are they . I cant see the photo of what youre showing. Stuart okay. Im holding up im saying, oh, theres the photo. Well, can i say stuart are you telling me that bill and hillary are very close politically and all the rest of it i can i Say Something . Maybe hillary is right. Weve been talking now for the last few minutes and all were talking about is bill and Hillary Clinton. Why dont we talk about doug jones. Lets talk about that race in alabama. Lets talk about 2018 stuart youre the, youve got the book. You wrote the book about it. Its a great book. Stuart im sure it is, and i intend to buy it and deliver it. Ill read it. Its a great book. Its a great read. [laughter] stuart okay. [laughter] only louisiana can put in every chapter something stuart is that why you wrote the book . I wrote this book because i wanted to tell the story of a chair who became chair for the second time, the hacking that took place. And as i went as a part stand, i left as an american concerned about foreign meddling and interference if our elections. I hope when this is all over we learn truly what happened last year and that President Trump acknowledges what happened and to tell the American People we will prevent this from happening in the future. Stuart youre going to make a lot of money from the book. How do you feel about paying at least 50 tax on what you earn . You know, i have been a Small Business, a Small Business opener, i have paid taxes owner, i have paid taxes since the age of 13. I love my country, and i know that my taxes are important. But let me just tell you what worries me about the republican tax stuart no, no, tell me about, you tell me how you feel about losing half the money that you will make from writing this book, losing it in a tax. I mean, are you okay with that . I wont with lose half the money. I understand how much of my book advance and how much will go to paying taxes, but im not one of those americans that believes that a paying taxes is a bad thing. I like to pay forward. Heres what i want you to say stuart 50 is a lot. I did not write book for money, trust me. Stuart okay. I wrote this book because i wanted to tell the American People what happened, i wanted to tell democratic donors what happened, the staff people. I wrote this book because i had a story to tell. Im proud of the book, i loved writing the book, and i just want you and your readers, your listeners, i want them to understand that this was [inaudible] a great story about american democracy. And this book tells that story. Stuart last one. Should al franken resign, and if he does, does bill clinton have resigned way back when . I think roy moore should be rejected by the voters of alabama. Stuart okay. How about al franken . Lets get donald trump was elected after several women came forward with allegations of his Sexual Misconduct. Sexual harassment is a problem in the workplace, and people across the country today are figuring out, across all industries, are figuring out how to support these women who are going forward. The senate will investigate the allegations against mr. Franken, and i hope the people of alabama reject roy moore. But more importantly, i hope the American People understand that Sexual Harassment is pervasive, its a persistent problem, ask we need to get rid of to it, we need to understand it more. And in terms of politicians, media figures, celebrities, today were talking about them. But if youre just an ordinary citizen out in the country, you should know your rights and you should not be harassed while youre on the job. Stuart Donna Brazile, i am going to buy your book. Ill make sure some revenue flows to you. Im sorry youre going to lose half of it, you will unless youve got a very good accountant and a lawyer. Donna, i do want to say it was a pleasure having you. Thank you very much, indeed. I look forward to coming back on the show again, hows that . [laughter] stuart if youre not careful, youll get an invite. Im available. Im not always free. Stuart be careful, be careful. Thank you. Stuart i want you to sit right next to me in new york. I would like that. And let me just also say to your viewers, happy thanksgiving. God bless you. Stuart thank you very much, donna. Badgood luck to you. Therell be more varney after this. Im Nicole Petallides with your fox business brief. Thanksgivings approaching and so are are the holidays, and amazon is getting ready for some serious hiring to take all your orders and all that spending theyre hoping you will do. In fact, they said they plan to hire about 120,000 seasonal workers. Those workers will be in 33 states across the United States. Interestingly enough, they have a group of workers they call, theyre nicknamed the camper force workers. These workers, some of which are retirees that live in recreational vehicles. Their program lasts about 34 months, and amazon even pays for their campsites and utilities as well. We know that many of the retailers and shippers are getting ready and gearing up for the holidays. Amazon, target, ups and macys are hiring for the holidays, most of which are at minimum wage. Get ready. Stuart all right, everyone, i do hope u heard and watched the interview with don that brazil just moments ago. Doug schoen is with us and Peter Kiernan is still with us. I want to talk about the interview with Donna Brazile. First to you, mr. Schoen, becaus you are still a democrat. I am. Stuart youve been in president ial politics for many, many years. True. Stuart Donna Brazile just said that hillary lost because of the russians, the hack of the dnc and trumps toxic message in three key midwestern states. Thats why hillary lost, according to Donna Brazile. And you say . I say most, if not all of that, is wrong. I would say she lost because she was Hillary Clinton. She was too far left, she didnt have a jobs message in the midwest, and to blame the russians, the hacking, jim comey, i think what democrats and clinton have done rather than engaging in selfexamination is an exercise in failure and futility. Stuart okay. Hold on a second, doug. Peter, youre a money guy. You analyze the market and the economy. Did you get anything out of that interview with Donna Brazile on the financial front . No, nothing on the financial front. Frankly, shes a compelling presenter and a compelling speaker, and so ill grant her that. I found some trouble, without getting too harsh, with the notion that the candidate wasnt the center of the issue, because in the end the candidate is always the center of the issue. No mention of the ball and chain email scandal which followed her all the way through, and i think bedeviled a lot of peoples questions about her reliability. And, in fact, she could have owned that and dismissed it. She did not. I also think, frankly, that the notion that the candidate did not choose to travel in anything like the same way that donald trump and others have in the past was an exercise in risk. And the risk was you might lose one or two or three of those key states that she wound up losing. And those two things combined far more than the weaponizing of emails through the hack led to her loss. She also, by the way, got sucked to the left, and everyone knows the road to the white house is real estate thats in the center. And trump is too big and too good a developer to not go for that prime real estate. The center wins. Stuart im going to move on, and i want to bring this in. Senator Elizabeth Warren dodging a question on whether al franken should resign. Roll that tape. People are calling for al franken to step down. Do you think he should . So, look, i was just enormously disappointed about this. Al is going to be subjected to a hearing in the United States senate, an investigation. We have had for a long time now in the senate, long before i got there, a bipartisan Ethics Committee that meets on a regular basis, and hes going to go in and answer. Stuart okay. Unequivocal. Yeah. Stuart what do you think he should do, al franken . Resign. Quickly, immediately. Stuart for the good of the party or [inaudible] the good of the country. We cant have u. S. Senators who are engaging in the kind of public groping that he engaged in. Theres now a second complaint. We just dont need him. And by the way, im not a fan of roy moore. I think if you engage in this kind of questionable behavior, the privilege of being a u. S. Senator should not belong to you. Stuart but should it be up to the voters in the state that the senator represents . It will be in the case of roy moore. Alabama voters will decide on him. Shouldnt it be the same in minnesota with al franken . Well, its both because we have rules that allow the senate to pass judgment on the qualifications of individuals to be members of that body. Roy moore, if he wins, will get to washington. Theres going to be an Ethics Committee look at him, and therell be real questions whether he should be seated. And i just believe that the precedent ought to be pretty simple. You do what al franken did, what hes acknowledged he did, you go. Stuart peter, youre from the land of money. Have you any comment on al franken, resignation and Sexual Harassment . I do think its very sad when you see people of enormous ability stumble and do the things theyre accused but the onus ultimately falls back to that same individual. If youre a responsible person, the best statement you can make is not by doing this, its by your actions. Resign to show you know you did the wrong thing. I think he should resign, i think roy moore should step down. Stuart okay. Good opinions there. Thank you very much, gentlemen. Stay there, please, ive got more. Remember lois lerner . Shes the former irs official who was at the center of the Tea Party Targeting scandal. Now she wants to make sure her testimony in that case stays private forever. An update on lois lerner and the irs scandal after this. I used to have more hair. I used to have more color. And. I used to have cancer. I beat it. I did. Not alone. I used to have no idea what the American Cancer Society did. Research . Yeah. But also free rides to chemo and free lodging near hospitals. I used to maybe give a little. Then i got so much back. I used to have cancer. Call 18004944357 today. Your contributions to the American Cancer Society fund valuable research. But thats just the beginning. A cancer diagnosis can kick off years of challenge. And thats where your donation truly shines. You help us fund free rides to treatment. A live 24 7 help line, free lodging near treatment centers. And even efforts to expand access to insurance. So, please donate today at cancer. Org and help attack cancer from every angle. Approaching medicare eligibility . You may think you can put off checking out your Medicare Options until youre sixtyfive, but now is a good time to get the ball rolling. Keep in mind, medicare only covers about eighty percent of part b medical costs. The rest is up to you. Thats where aarp Medicare Supplement Insurance Plans insured by Unitedhealthcare Insurance Company come in. Like all standardized Medicare Supplement Insurance Plans, they could help pay some of what medicare doesnt, saving you in outofpocket medical costs. Youve learned that taking informed steps along the way really makes a difference later. Thats what it means to go long™. Call now and request this free decision guide. Its full of information on medicare and the range of aarp Medicare Supplement plans to choose from based on your needs and budget. All plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. Unitedhealthcare Insurance Company has over thirty Years Experience and the commitment to roll along with you, keeping you on course. So call now and discover how an aarp Medicare Supplement plan could go long™ for you. These are the only Medicare Supplement Insurance Plans endorsed by aarp, an Organization Serving the needs of people 50 and over for generations. Plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. Remember, medicare doesnt cover everything. The rest is up to you. Call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. Go long™. Stuart former irs official lois lerner wants her testimony sealed forever. She says shes afraid of Death Threats and violence to her family if all were revealed. Where do you stand on this, Peter Kiernan . I think its dead wrong to weaponize the government against individuals whether its a toll lane on the George Washington bridge or the irs. But particularly when it involves financial matters. Trust has got to be the centerpiece, and i think the only way to get this is disclose it. Stuart reveal all, what happened i think that kind of secrecy is for mafia informants, not Public Officials who who have td to hide. Dont forget, she pled the fifth. She has faced Death Threats, but i think theyre right, put it all out there and just own it and apologize. Stuart all right. The democrat, doug schoen. Absolutely, get it out there. The irs is at the center of the integrity of our financial system. I believe there was a massive effort to target conservative organizations. The fact that she stonewalled it, we havent seen her testimony is, to me, outrageous. I agree, lets get it out there. Stuart pretty clean cut. Ive got to say, i like that. Ladies and gentlemen, we have to leave you for a short commercial break. As of right now, record highs across the board for all the major stock market indicators. 23,607. Well be back. Zar one of our investors was in his late 50s right in the heart of the financial crisis, and saw his portfolio drop by double digits. It really scared him out of the markets. His advisor ran the numbers and showed that he wouldnt be able to retire until he was 68. The client realized, i need to get back into the markets i need to get back on track with my plan. The Financial Advisor was able to work with this client. Hes now on track to retire when hes 65. Having someone coach you through it is really the value of a Financial Advisor. Stuart all right. Youre looking at the dow you will look at the dow 23,600. Heres my question for Peter Kiernan. If we get a tax cut deal before the end of before christmas right. Stuart do we get 24,000 on the dow before christmas . I believe were going to get 24,000 on the dow before christmas. I believe also that a lot of this tax cut enjoyment is already baked into the price. So i dont see it screaming after the tax cut. I think its going to be fantastic for stock prices over time. Dont play the passage of the law. Play the fundamental. The fundamental is were growing, were good, were going to get to 24,000. Stuart ive got a sneaking suspicion that you would sell on the news i could be tempted to sell on the news, yes. And youll get a chance to buy it back. This is great news for stocks. Whatever you say about the middle class, this tax deal is good for stocks. Stuart lets ask a money question to a political guy, doug schoen. [laughter] lets suppose we get the tax cut deal done, signed, etc. , etc. , before christmas. Yeah. Stuart 24,000 on the dow . Yeah, i think so. The one thing where i disagree with peter, given the difficulty in the senate of getting this bill passed, im not at all sure its baked in that were going to pass it. But if it does pass, i think were going to get a final jolt of energy in the dow and in the s p before the end of the year. Not so sure next years going to be anywhere near as good as this, but, in fact, im i think were way, way overvalued. Certainly organized my portfolio that way. Stuart when are we going to hit 25,000 . Well, you know, if we get the tax cut passed, then we have a chance. But, again, i think this is all shortlived, and i do not think it is going to last an appreciable amount of time. Stuart well, there are 34 days until christmas. Thats not all trading days, obviously. I guess about, what, about 24 of them, 25 of them are trading days. And you expect 24,000. Peter kiernan said it, doug schoen said it. Today is november the 21st. All the rest. [laughter] our time is up, but we leave you with that thought, 24,000 by christmas. Neil. Neil thank you, my friend. We are looking at these markets running up here again on expectations we probably will see a tax cut. More though today, i should stress, and as stuart has indicated on growing optimism of the pace of better than expected earnings. We are just about wrapped up, and they show growth about double what the consensus was. So closer to 10 yearoveryear than the roughly 5 that was largely anticipated. And that doesnt account for the surprises that we saw on the upside with technology. Were going to get into that and into the prospect of what happens now with those tax cuts because so much of this seems to be built on optimism. Thats what were going to see. Goldman sachs does have a report