Transcripts For FBC Varney Company 20170727

Do you own amazon stock . Here comes another alltime high. Try 1,067 a share. Founder jeff bezos about to to overtake bill gates and become the richest person the world. The latest Financial Report from amazon comes out today. Oh, please, watch out. So heres the story. Big tech, the fabulous five, call them what you will, are still on a tear. And they will push the overall market to levels we have never seen before. The dow is closing in on 22,000. Here is the news from the swamp. Not entirely depressing. The wall street journal reports increasing support for a socalled skinny obama care repeal bill. Something would be better than nothing. And we expect an outline of the tax reform plan tomorrow. We have more reports of higher taxes on the super rich. Whod have thought . Here comes the most exciting financial show on television. Varney companys about to begin. Stuart we have no choice. We have to start with facebook. The stock is surging, and i do not use that word lightly. E. Mac, wait [laughter] i know the numbers are staggering, so go ahead, stagger me. 1. 3 billion daily active users, 2 billion monthly active users. This stock is up 44 for the year. The profit rose 71 , they have 15 million business profiles now on instagram, and when you have that gigantic audience, its why you can raise advertising costs to your advertisers by 24 . Stuart what . They did that . Thats what they did. Thats unheard of. Usually its an incremental increase. 24 increase yearoveryear at facebook is whats driving this stock higher. Stuart okay. I still cant wrap my arms around this. Lets see if market watcher scott martin can. Scott, openended question, have you ever seen anything like this before . Facebook, stuart, is one of a kind, as weve been saying all year long. E. Mac pointedded out, a cane like in that has such a company that has such earnings power, such great cash flow and such a big part of your lives or at least, say, of the few bill or so they touch every month like you mentioned there. The reality is this, facebook is unstoppable. Theyre getting more and more into video as well which is, as we know, the big wave of the next kind of move on the internet. And theyre in mobile especially. Therefore, theyre just scratching the surface on penetration and what theyre going to deliver to their end users. Stuart i want to move on to amazon. The stock is already surging, look at this, this is premarket today, 1,066 per share. Jeff bees sos is pretty close to edging out bill gates to be the richest person in the world. Heres my question, scott, one more. Would you buy amazon at 1,068 today . I would. And thats also, stuart, because ive got a longer term time horizon as many of my clients do. We look at amazon, facebook, google which, as you know, bombed at least as far as after earnings a few days ago. The reality is, if youve got a couple year time horizon, yeah, youre probably going to pick some of these up at high prices, but in the next couple of years, these stocks are going to perform very well for you, so id be a buyer. Stuart all right, scott, well come back to you shortly covering twitter and proctor or and gamble and all the other companies, but we focus right from the get go on the big tech stocks. Why not. Look at this. Look at futures. Dow, s p, nasdaq, theyre all coming off record highs yesterday. All of them will go up just a little bit more as of today. The nasdaq especially powered by Technology Stocks like facebook and amazon. Now, heres the p g story, procter gamble. Struggling to grow sales. So what . Their up 2 , merely 2 a share, 91 a share. Flat user growth at twitter, uhoh. Thats not good news. That stock is going to be down and down big. 10 at the opening bell. What would that be, 25 minutes from now. Weaker profit, weaker sales at whirlpool and even worse, it cut its forecast for the future. Its down 5. 8 . Astrazeneca, drug company, down huge, if i can use that word, after its lung cancer drugs failed. Its going to be down 15 . Biggest oneday drop ever for that drug stock. All right. Thats the markets, thats money. Im going to update you now on tax reform. Fox business has learned that Republican Leadership is trying to hammer out details on a plan by tomorrow. Jim rah nays citys with us, Ohio Republican and a member of the taxwriting committee. Sir, i dont want to to get dog bogged down in bogged down in details. Is there one item which everybody agrees on which is going to get passed in tax reform . Well, stuart, thanks for having me on, and i do believe that one item everyone does agree on, we have to lower tax rates. We have to lower tax rates. Weve had hearings on it. People understand that. We have to become more competitive. Thats got to be the one stuart are you talking about Corporate Tax rates or individual tax rates . Well, i think the Corporate Tax rates and the individual tax rates, especially on middle americans. They have to have a lower rate, they have to be able to have more money in their pockets, we have to be able to move the economy forward. Stuart okay. Now, im sure youve heard this, white house chief strategist steve bannon, hes said to be calling for a top rate, an increase in the top rate to, what, 42, maybe 44 on incomes above five million. And President Trump referred to raising taxes on the very rich in his wall street journal interview just the other day. What do you feel about tax hikes for rich people . Well, stuart, i do believe that we have to look at that. I do believe that wealthy people are willing to pay more as long as its going towards the National Debt and not just filling a coffer and paying for things down here. I also want to make sure where i spent almost a year doing my own tax reform, and when you talk about incomes over five million, theres only 43,000 people that filed in 2014. Even if you tax them at 44 , youre raising about 18 billion a year. Its not a lot of money. So we cant look at that as the salvation or the total answer. But again, in the end, i know people in that bracket are willing to pay, they would rather it be paid directly to the debt. They dont want to see it coming down into this big pile in washington and being wasted and used. Itll be interested, but its not the answer. Its not the silver or bullet. Stuart understood, but has it been discussed within your committee . Well, it has not. Weve always talked about looking at those high i rate, but in our committee weve talked about simplifying the tax system. Thats whats important. Really making sure all that taxpayers get a tax break. Stuart one more on the timing. Are we correct in saying to expect the reform plan tomorrow . Well, im hearing that. Im glad to hear that. We have to do something. Finish look, ive been here for six and a half years now. I said tax reform is so important to the American People to get the economy growing. I know thats something that democrats and republicans agree to. Im hoping that we can get some type of plan out, and im hearing that were talking about something i know we have a meeting at 10 00 today. Hopefully, well be able to the move something out. Stuart oh, wed love to hear about this. Congressman renays city, thanks for your running commentary on taxes. We appreciate it, sir. Thank you very much. Thank you, stuart. Stuart now this. Senator thom tillis, he is a republican. He says, yeah, he is open to the idea of raising taxes on wealthy. You ever heard this from a republican before . He will make his case at about 9 45 eastern this morning, this program. Your amazon story of the day, the ceo of birkenstock railing against amazon, calling them pathetic, threatening to shut down any authorized birkenstock retailer who sells even a single pair of shoes on amazon. Full details coming. Harvard university wants to shut down social groups on campus including fraternities and sororities. We have a New York Post opinion page intern, a youngster College Student who says if harvards going to shut down frats, they might as well chose the whole school. He will make his case in the next hour. And President Trump says hes banning transgender people from serving in the military. Next, a fourstar general, jack keane, where does he stand on this controversial issue . More varney in a moment. Stuart Online Retail is giving ups a boost, but its not helping the stock price which is down just a fraction this morning. Maybe the online guys are demanding much lower prices for shipping from ups. How about verizon . They are adding more subscribers. The market likes that, a 36 gain 3. 6 gain for verizon premarket. Lets get an update on venezuela. The u. S. Government has leveled sanctions on 13 high ranking venezuelan officials. Individuals, that is. E. Mac, this is your story. Will sanctions head off a civil war . I dont think so. Sources inside venezuela say they fear, no, that this more generalized violence is hitting streets even harder. Two People Killed yesterday in the unrest. They argue that sanctions did not stop cuba, did not stop north korea from pursuing nuclear ambitions, pakistan or india as well. So what needs to be done. Theyre asking for an International Coalition of, basically, countries in south america led by the u. S. And overseas in europe to step this and say, maduro, you need to step down, to put direct pressure on the regime. Stuart the words stepping in, what does that mean . Well send a tank or two to the streets of i dont think so. And sanctions on the Trump Administration going after the oil sector itself. Now its just individual, so maybe the oil sector. That would hit the maduro regime. Stuart yes, it certainly would. Cut them right off from foreign currency. Right. Stuart liz, thanks for keeping up with it. President trump tweeting no transgender people in the military. Let me run through the tweets for you. At the consultation with my generals and military experts, please be advised the United States government will not accept or allow transgender persons to serve in any capacity. Our military must be focused on decisive and overwhelming victory and cannot be burdened with the tremendous medical costs and disruption that transgender in the military would entail. Thank you. Come on in, jack keane, retired fourstar general. What does jack keane say about this . Well, policy by twitter, it doesnt work very well. Particularly something as complex as the United States military. I think pentagon is pretty stunned by this decision. To give our viewers some sense of whats really happening here, the military did not come forward and ask for the transgender ban to be lifted. That was imposed on military by secretary of defense carter last june, literally six months before the end of the obama administration. No internal, indepth study was done. He relied on an external study by a contractor. The result had been that after the ban was lifted, several thousand soldiers who were serving faithfully and honorably in the military came forward and changed their gender. They began to receive medical treatment as of 1, october. And hen this july and then this july, general enlistment of transgender recruits was supposed to take place. Generals and secretary mattis got together and said we are not ready for this. We still dont understand what is happening as a result of this policy decision. So secretary mattis delayed that enlistment from 1, july, six months to study it further. Be i think what the president should do is talk to secretary mattis, take no adverse action against those who are serving honorably and faithfully who are now transgender soldiers and let secretary mattis come back and tell him how is this program working and should we go forward with it. And if so, i need time to make this thing work properly. Stuart what is the military for . Is it to win battles . Kill people and break things . Or is it also a social Welfare Organization . Well, its not a social Welfare Organization, and its not a place to socially rehabilitate people either who have had problems in their life. We exist for one reason only, and that is to protect the American People and our national interests. And thankfully, we have people who volunteer as american patriots to do that very thing and put their life on the line. What comes first in the military is readiness. Readiness is the most important thing. And you have to give up rights to become part of the military. And we, were able to take some of those rights away from people because readiness trumps Everything Else that goes on in the military. We can get this right, stuart, but let secretary mattis and the generals figure out how best to do this. Stuart got it. Okay, i want to bring this to your attention, im sure you know already, taliban [inaudible] an Afghan Military base in the kandahar region killing more than half the soldiers stationed there. Whats the latest on this, and what does it tell you about the battle in afghanistan . Yeah, this follows on the heels of 24 being killed in a bombing incident in kabul. And this is a military base in northern kandahar. And its really bold, what the taliban are doing. They have, to use a military term here, they have absolutely operational freedom and momentum on their side. They attacked the base, had 82 Afghan Soldiers on it. They killed, wounded or captured 57 of those 82. And this is the third base that theyve attacked in the last few months. They are beginning to systematically roll up kandahar province which is south of kabul, but a very significant and strategic province inside of kandahar. Theyve had the same influence the last year and a half on helmand. These are places that during the surge in afghanistan in 2010 and 2011 u. S. Troops, along with Afghan Soldiers, took away from the taliban. And now theyre taking it back. Things are not going well there. I think the Senate Armed Services committee is likely to come forward, because theyre is so frustrated not seeing a strategy in afghanistan from the administration. Theyre likely to propose one of their own. We have got the come up with a workable strategy for afghanistan. Stuart okay. General jack keane, look, thanks very much for joining us this morning, sir. Difficult day, but thanks for being here. Good talking to you, stewart. Stuart were gaining ground. Futures now show a gain of 40, maybe 50 points for the Dow Jones Industrial average. Gains for the other indicators as well. This is going to be a very big day for your money. Check this out, please the latest issue of Rolling Stone. It features a profile of qantas liberal Prime Minister justin trudeau. The magazine and the asked the question, why cant he be our president . We might answer that question for you after this. Your Insurance Company wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Stuart bottom line, got a nice boost from theme parks and a couple of movies like the fate of the furious. That was a big seller. It lost video subscribers. So what . It gained elsewhere. Remember, it is the number one u. S. Cable operator up 2 at 40 share. Better profits at the New York Times, theyve done well from President Trump. They hate him, but theyve done well from him. [laughter] new Rolling Stone cover, picture of canadas justin trudeau, the Prime Minister. Heres the question why cant he be our president . All right, lizzie, go at it. Okay. Why cant he be with our president . This story misses by a mile the problems in canada right now. Yes, they have a lot of welfare spending, a bill entitlement state, but they have a runaway housing bubble, runaway debt crisis, theyre on level of an emerging market crisis because of their debt bubble in canada. The economy is propped up by the housing bubble and oil. Thats it. And they have only 19 billion in defense spending, so is they piggyback on the u. S. Military might, and thats how they built a gigantic welfare state. I mean, Rolling Stone and the liberal media consistently fail to grab and is grasp the economic picture of countries like this when they do covers like that. Stuart well done. I didnt know that. Well, moodys did a stuart he cannot be our president because hes canadian, and we all know that. [laughter] right. Stuart you dug deeper and found a real problem within canadas economy. And moodys downgraded all of qantas big banks just a few months ago because of this runaway debt crisis. Stuart i didnt hear that in the New York Times. All right. Look closely at what were going to show you. Thats how the market is going to open. Up. This is going to be an extremely big day for your money in the stock market. If youve got a dime on wall street, youre going to be very happy today. All the major averages closed at record highs yesterday, all of them will open a little bit higher today. The dow, by the way, closed at 21,711. Were going to add to that. I believe we are going to be in striking distance of 22,000. A couple of really good rallies away from 22k. Also watch facebook, watch amazon. Big tech going gang busters all over again today. You wont believe facebook. But youll see it right here. Four minutes away. Stay there. Today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Pcountries thatk mewe traveled,t what is your nationality and i would always answer hispanic. So when i got my ancestry dna results it was a shocker. Im everything. Im from all nations. I would look at forms now and wonder what do i mark . Because im everything. And i marked other. Discover the story only your dna can tell. Order your kit now at ancestrydna. Com. Stuart in 30 seconds, this market opens, and i think were in for a very big day. Futures are pointing higher to the tune of 40 or 50 points. That will be up from a record high close yesterday for the dow industrials, the s p 500 and the nasdaq. Do pay particular attention to the facebook and amazon. They are two of the five Big Technology companies. Their numbers are astonishing, and their stocks this morning are going way up all over again. Bang, i 9 30. Were off, were running. How did we open . We opened up 21. 23, 50 points higher, 52 points higher. Look at that, 21,765, thats an alltime high for the dow. You have never seen it at these levels before. How about the s p 500 . S p, alltime high. Im getting this my ear, ladies and gentlemen, because i cant do the math. Alltime high, its up again. And the nasdaq also record high. Youve never seen the nasdaq, the s p, the dow anytime, anywhere near those levels. Theres the s p. Its up okay, its up. Nasdaq, up 36 points. Thats a half percent. Whod have thought wed get to 6400 on the nasdaq . Why . Well, the big Name Technology companies riding very high. Let me see that board. I want to see how good this is. Apples up. Amazon is way up. It just hit 1,070, thats a high. Never seen that one before. Google, its up a couple of bucks. But, look, the story is facebook, now up 8 at 173. Thats how it opened. Microsoft is losing ground, down a half percentage point. [laughter] they play the sad music for me because i own a little microsoft, but im not complaining at 73 a share. By the way, the market value of all those companies now surpassed the economy of france. Stuart i will repeat that, ladies and gentlemen. The market value of the stocks you see on your screen now exceeds the gdp of france. 3. 1 trillion right there. Flat user growth, oh, thats not good news. Thats the twitter story this morning. Way down, a 12 drop. Procter gamble, another very big company, reported their earnings this morning. Not much change. Costcutting did help boost profits a little bit but not that much, just a ten cent gain at 89. What a day it is, and whos here to cover it . Well, liz macdonald, scott martin, and welcome back larry levin. Great to see you with us, harry, all right. Ive got to start with facebook. Larry, to you first. Welcome back again. Is there any stopping this company . No, its unbelievable. In fact, the biggest thing about those numbers, institute, about facebook was the mobile ads. Everybodys Walking Around with a mobile device, almost getting hit by cars looking at facebook and ads, and thats making them a lot of money. I dont think theres any stopping that anytime soon. Stuart yoopt to ask a silly question, but can you see 200 on facebook, larry . Yeah, i could. I really could. I think that the advertising, and theyre going to keep monetizing that better and better. Theyre very good at it, and theyre going to keep Getting Better at it, and you could very easily see 200. Stuart just extraordinary. I want to move on to amazon. After the bell today were going to get financial numbers from amazon. Their walking up to those numbers theyre walking up to those numbers with a nice gain, 14 higher, 1,066 on amazon right now. Scott martin, ive seen a forecast of 1,150 on amazon. Do you think it could get there . I think its going to get there maybe, gosh, i dont know after hours today, but definitely maybe by the end of the quarter. Ill tell you whats interesting, stuart, just like your comment to larry, i think 200 on facebook, 1150 on amazon is way too low, way too small. I think these companies are going to go up another 30, 40, 50 in the next couple years because of the dominance they have. Amazon alone, this is funny, stuart, everybody thinks about amazon as this Online Retailer and amazon prime being the gateway drug to internet spending. Look at their web services, theyre the complete dominator in this space, yet this was a retailer about ten years ago k and they said were going to look into the cloud and web services, and now theyre leading that industry as well. Theyre amazing, and they can do anything they want these days. Stuart were all shaking our heads. Totally different story with twitter. It is not growing its user base. Heres the question, scott. Is that the facebook effect . To some degree, it is. And i also think its the user interface effect, if i may say, stuart. I dont know about you, and maybe im just getting old, but, you know, twitters kind of hard to use these days. They really havent updated that that user interface very well. They made some changes, but if youre using it and as larry said, you know, you want to know to get hit by a car, use twitter walking acrosses the state versus facebook or amazon because theyre a lot easier to use. I think thats upsetting a lot of the users, and thats why theyre not seeing that growth and thats why you seeing facebook and other places grow in light of them. And if you wonder patrolling the abuse is hitting its ad revenue, its down 8 . If you cant get the president exciting your user base, i mean, the u. S. User growth is down to 68 million from 70 million. I mean, that might be an issue. Stuart thats not good. Check the big board. We are five minutes into the trading session this thursday morning, and were up 63 points. Never been there before, 21,776. More individual stocks, astrazeneca. Their lung cancer drug failed. The stock is down 15 . That is a huge hit for a drug company of that size. And by the way, it has negative implications for bristolmyers which has a similar therapy. That stock is down 5 , another big drop for a big company. Verizon, theyre adding more sub vibers subscribers, nearly a 5 gain this. The New York Times digital subscriptions doing well, the stock is up 30 cents, 1. 5 . Comcast profit got a boost, theme parks doing well, movies doing well, the stock is up 1 . Dr. Pepper snapple, profit falling short. 31 cents lore. The parent of Dunkin Brands making money, they do make good coffee, up nearly [laughter] yeah, they do, up nearly 3 . We consume a lot of it, dont we . Thats right. Stuart quick check of the big board, stocks at alltime highs. I say this rally is about profits and theres nothing well, at this point not much to do with politics. Would anybody take me on . Welcome back, larry. Is this a profit storiesome . Story . Profit and what you talked about with maria earlier, stuart, its about the research and development all these Tech Companies are doing. Everybody out there is working so hard to develop technology that weve never seen before, and i think were going to see some Amazing Things over the next few year ands a lot of people are betting on that. Stuart scott martin, politics on the back burner and profits right up front . Yeah. Profits so far, but you know whats funny about these great profits, stuart . And larry knows this, in a couple of quarters were going to have some difficult comparables. Youre going to be going into the First Quarter of 2018 i cant believe im saying that, its so far in the future here but the reality is youre going to see tougher comparisons to the numbers that were seeing today. At that point were going to need some help from d. C. Via tax reform, via Regulatory Reform or im worried about it getting a little bit too rich. Stuart okay, we understand. A couple of items on chipotle, one sick employee at a virginia restaurant cost the company a billion dollars. Next item, the companys been served another subpoena after this latest food scare. You know what, e. Mac, i kind of feel bad for chipotle. I dont think its their fault. Yeah, federal grand jury subpoena, and the fda investigation would suggest otherwise. Word is out that it goes beyond that one woke, that theres an overall lack of compliance with health and safety standards. One sick worker would not cause 10 people to the get 130 people to get sick. They think its an overall atmosphere of unhygienic restaurants, and thats why out of Central District of california theyve been investigating since 2015 these foodborne illnesses. And we know its chopped a billion in market cap, the recent incident, you off of chipotles revenue, but it seems to be a broader problem. Stuart i want to talk about tesla. I dismiss them far too often. Hr. Ly, come in. This is your favorite company. You own, i believe there you are you own two teslas. Make your case as to why i should buy teslas stock. Well, im a little cautious about buying it at the top, stuart, i would say that. I want you to buy the cars. The cars are so amazing. The technology in the cars, the amazing selfdriving automation that these cars have, theyre amazing. And i believe when everybody starts realizing thats available in a tesla and its available in some other cars too but when they see the technology, i think people are going to so fall in love with that car. Tomorrow night they release the model 3, the 45,000 version that has pretty much everything that the other cars have but a lot cheaper price point. I think people are going to be very excited, and thats going to happen tomorrow night. Stuart i am told if you own a tesla and you put your foot down on the accelerator, youre pinned to the back of the seat because the acceleration is so strong. Is that accurate . In the pictures you showed, my car goes 060 in 2. 8 seconds, her car is slower, 060 in 3. 2 seconds. Theyre amazing. I never lose a race off the line at the light ever, and theyre a lot of fun to drive. Stuart welcome back, larry. Ive said that five times. Good stuff, indeed. I want to turn to fox con, the Taiwanese Company that assembles the iphone pledging 10 billion to build a plant in wisconsin that can employ up to 13,000 people. This is president s growth agenda or part of it, isnt it, scott martin . It is. And this is great muse for wisconsin news for and, sadly, bad news for, i guess, my beloved current state of illinois, stuart, but a they lost out on this one. It just goes to show you a couple things. Obviously, capital and jobs are going to go where theyre best treated, and i have no doubt that Governor Walker and paul ryan, House Speaker, did their best to get a good deal. If i could poison the party punch a little here is that a lot of these states, including my home state of ohio, have thrown out a lot of tax benefits and incentives to get companies to move there only not to recoup the benefits longer term. So you have to treat them well when they get there and treat them well while theyre there so they stay. Stuart one last point and thats about facebook. What is it. Now joins officially the 500 billion plus market value club. Only five companies in the world are above 500 billion. Stuart facebooks now one of them. I do say thank you very much to larry and scott. Great performance today. What a market that were covering. Look at it right now, were up 76 points for the Dow Jones Industrial average, 21,788. Im doing the math, that means we are 211 points away from 22,000. Today on capitol hill it is the skinny plan debate on health care. Tomorrow we expect an outline on tax reform. Could it be republicans going for higher taxes on the rich . Its on the cards. Be in our 11 00 hour today, ann coulter, well ask her is President Trump paying enough attention to his core supporters . Ann coulter, 11 45 this morning, this program. microphone feedback listen up, Heart Disease. You too, unnecessary er visits. And hey, unmanaged depression, dont get too comfortable. Were talking to you, cost inefficiencies and data without insights. And fragmented care stop getting in the way of patient recovery and Pay Attention. Every single one of you is on our list. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. Better than a manual, and my hygienist says it does. But. Theyre not all the same. Turns out, theyre really. Different. Who knew . I had no idea. So, she said look for. 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Were seeing it at the fast food chains, bringing in more chicken sandwiches, and people are turning to chicken and poultry and, apparently, the wing costs are very expensive. Historically at the highest ever. So now Buffalo Wild Wings did see an earnings miss, he was these high costs to deal with they have these high costs, so theyre going to be pushing boneless wings. [laughter] apparently, its a little bit more cost efficient for them. Takes away the fun, maybe. Stuart whatever you say, nicole. Whatever you say. Just pass the wings and the hot sauce. Thank you very much, indeed. Now hear this, record profit at samsung despite an atrocious year. Liz . Could beat apple. Stuart what . In their quarterly profit. Stuart more money than apple . 9. 9 billion. Chips and display screens, theyre pushing hard on bendable, flexible display screens as well. This is after a disastrous year of the galaxy note catching fire. The leader of the company put behind bars, he was in jail is in jail over corruption charges. So, you know, despite all that, theyre plowing ahead. Stuart ill say, if they make more money than apple, they are definitely plowing ahead. Thanks, liz. Lets bring in senator thom tillis, republican from north carolina. Welcome to the show, mr. Senator. As im sure you know, steve bannon is said to be looking at a 44 tax rate on incomes above 5 million. That would be tax increases on the super rich. What do you say to that, senator . Well, you know, first off, if we think that we can pass a tax policy by simply taxing the rich, were going to run out of rich people. Im willing to listen or consider any sort of tax policy that im convinced promotes growth. So right now anythings on the table, but at the end of the day we have to have something that gets our jobs sector and job creation going. And our Economic Growth going over the course of time. Its the only way we get ourselves out of the debt that were in and we get people back to work on a consistent basis. Stuart now, the president did mention raising taxes on wealthy people. Now weve got the steve n report. Is this being just talked about in republican circles in the tax debates that youre having . Yeah, i think it is, stuart. I think that it along with any number of things, you know, we had the border adjustment tax discussion, were having a number of discussions really trying to figure out a way to broaden the base, lower the rate and stimulate economic activity. I, for one, having done tax reform, im not prepared to take any consideration off the table knowing many of them will fall to the wayside when were getting consensus in the senate. Stuart okay. Im going to show nutrasystem and weight watchers. We hear that the Skinny Health care reform bill is going to be up for debate fairly soon. Forgive the joke here, mr. Senator. But this Skinny Health bill, we hear from the wall street journal that its getting some support . What say you . Well, what i say, stuart, is i dont care if its skinny, mini or moe. If it gives us progress on health care weve got a lot of work to do. A lot of people need to just dispatch this idea that we have one vote and then we move on to other things. We do need to move on to tax reform, but weve got a series of additional measures that well have to pass out of the congress to the president s desk to round out what were doing with this first bill. Im not going to get caught up in the details of the first bill, except i know if we pass it, we can negotiate the other measures on our terms versus the failed foundation of obamacare. Stuart so were going to get something done, is that what youre saying . The senate will get something passed and hand it over to the house . I hope we do. I voted for the full repeal this week, also for the cruzportman amendment. This is important for us to show some leadership and willingness to accept something less than what i want in the interest of moving the ball down the road and getting the house onboard and getting the first measure to the president s desk. We all need to look at it that way. Weve got a solution to the problem, we need to lead here and dispense with perfect in the interest of a step towards good. Stuart it sounds like youre listening to voters who are saying we elect you to get this done, get it done or else. You hear those voices, dont you . I think thats right. And i think also, you know, people talk about political courage. Its not me standing up against a progressive liberal. Political courage is me going to a conservative red meat crowd and saying, guys, weve got to produce a result. This is as good as it gets, and im committed to continuing to get to a point to where we get more sound, fiscallysound solutions for health care in this country. Stuart senator thom tillis, we do appreciate it. Thank you. Stuart check that market. Market scan, to be precise. Thats all the dow 30 stocks. You can actually see a lot of red on your screen even though the dow jones average overall is up, what, about 50odd points. Theres quite a lot of strength this those stocks, verizon, merck, boeing, disney, coke, procter gamble, intel, mcdonalds, general electric, and Microsoft Microsoft just turned into the green. Thats the strength for the dow carrying it above the red stocks that you see at the bottom of the screen. Next case, in our 10 00 hour the only person whos ever reined in President Trump. Her name is Kellyanne Conway. She will join us from the white house less than an hour away. You probably know the brand, birkenstock. They make those leather sandals that yuppies like to wear in the country. Well, birkenstocks chief has some harsh words for amazon. He says their sales tactics are modern day piracy on the high seas. [laughter] we will explain. [laughter] your Insurance Company wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Stuart well, it is a modest rally. A rally, nonetheless. 50 points higher, 21,764. Now, the birkenstock story. Their chief slammed amazon. I want the full story, liz. Well, the ceo is in high dudgeon. He had banned birkenstock from being sold on amazon. They said, okay, retailers, give us your inventory. Now the ceo is saying, you know what, amazon . Youre sickening, youre pathetic, this is an assault on decency. Hes accusing them of torturous interference. He has a problem with the retailers really, thats the issue. And by the way, when nike went ahead and sold its products directly on amazon. This were knockoff and counterfeits of nike on amazon, they said, okay, well give you our stuff, amazon. Amazon cracked down. Stuart so it worked for nike. It worked for nike. Stuart why cant birkenstock do the same thing . Instead hes sending emails and letters, talking to the the Washington Post and is threatening legal action. Stuart heres a brand name unknown to upbies and hippies yuppies and hippies, carhart, clothing for outdoor people. People who work in the country, live in the country buy carhart. I bet thats a name youve never heard of. Do they have overalls . Stuart lots of them, and theyre really good. Im going to look into it on amazon. No, im kidding. [laughter] stuart check that big board one more time. We dont have quite the solid rally we had, but were at 21,752. We are, actually, on 22,000 watch. Kind of hopeful. Were optimists. At the top of the hour, coming up next, my take on the unpredictability of the trump presidency. And Kellyanne Conway will respond a little later. Reminder, kellyanne was the only person whos been able to rein in President Trump. Hey, im the internet i know a bunch of people who would love that. The internet loves what youre doing. So build a better website in under an hour with. Gocentral from godaddy. The internet is waiting. Start for free today at godaddy. Stuart picture this, the senate is deep into a highstakes debate on repealing obamacare. Very tense was the republicans reputation of the governing bodies on the line and in comes a tweet from the president , he is banning transgender people from the military. That tweet landed like a bombshell in the middle of the healthcare debate distracting to say the least. Then came a full frontal attack on Jeff Sessions, that is a political earthquake. It fits the pattern, the president of the United States being harsh, intimidating and sometimes frankly offthewall. Remember his sweet about the appearance of a female news anchor. Get used to it because this president is not likely to change. s twitter account has no filter, he comes right out with it. That is his style. It has always been his style from the time he descended the golden escalated to announce his candidacy he has been sharp edged and often outrageous. It has driven the left crazy, it has embarrassed many republicans, many ordinary people just shake their heads. Know what . Simply put, we are not used to a president who conducts himself like this. Not just his use of twitter but his tone, his bluntness from his frequent exaggeration, he is the all time champion counter punch or. His base loves it, they want more. He has turned politics upside down and turned things their way and if he gets a win on his growth plan expect more and more people to see trump as a winner. He is the same guy who came from nowhere to beat the clinton and bush dynasties and shredded the republican establishment. He is not going to change, but he will take some getting used to. In a moment, 18, the only person yet to rein them in. The second our of varney and company is about to begin. Stuart breaking news, the senate reconvening right now. On the docket is the budget for 2018. We will bring any headlines on that or the ongoing debate on health reform. Lets get your money, the latest read on Mortgage Rates, what have we got . Liz down from last weeks 3. 96, sticking to what was a year ago. Housing inventory is holding back the Housing Market, it shrunk to multidecade lows, housing prices have gone up. The fed is sitting tight and not raising rates and Mortgage Rates are going down so the buyers seen as softening in the Housing Market in terms of buying as prices go up. Fascinating. To wall street, three taken amos. And amazons profits, as we get closer to the numbers. The stock is down, is this because they are not growing their user base . It went from 70 million to 68 million users. As the president continues to tweet, attracting a lot of attention with his tweets not helping twitter right now. Stuart what a difference, facebook reaching to billion people on a monthly basis him at least once a month. New high on facebook. We expect outline of a plan tomorrow. He trump told the wall street journal he is open to raising taxes on the wealthy. He says the people i care most about middle income people in this country who have gotten screwed and if there is upward revision it is going to be on high income people. Last hour, senator tom said anything is on the table. Joining us is chris edwards, director of tax policy studies at the cato institute. We are also hearing a proposal from steve bannon for a new and higher top rate of 44 . If we did raise taxes on the superrichwood that boost the economy in any way . No. That is completely wrongheaded. Compared to other countries the United States heavily penalizes people at the top. The top 1 of earners pays 40 of all federal income tax which is extraordinary. The other thing trump doesnt understand is the people at the top have the biggest behavioral responses to taxes. You hike their taxes and the venture capitalists, entrepreneurs, Brain Surgeons at the top work less, invest less and that damages the entire economy. That idea is completely wrongheaded. The top rate is already too high. We should lower it and would be better for everyone because the folks at the top would contribute more to the economy because of their tax rate. Stuart i am not defending this proposal. I am saying it is a political proposal because it is soft to trumps base. Would you defend it on that basis . Not at all. Trump is being great on the Corporate Tax, consistently pushed for lower Corporate Tax and explained that is good for all of us because the big corporations will build more factories and hire more middleclass workers. That is the way we have to talk about helping the middle class and boosting Economic Growth by cutting our outrageously high Corporate Taxes. Stuart i asked earlier this morning, one item in tax reform that you all agree on, he said yes, cutting individual and Corporate Tax rates. Is that what we are going to get . I hope so. Again, trump, i give him credit for focusing like a laser to use a cliche on the Corporate Tax cuts. This is something president obama didnt understand, president bush didnt understand, but half of all us gdp is by big corporations, the General Motors and fords and general electric, you cut taxes on those folks they will build more factories in the United States, they will hire more workers, wages will arise, that is what we have to focus on. Even if we dont get big tax reform this year i hope we can get a small tax cut focused on cutting the corporate rates. The most important thing to boost the economy. Stuart hold on one second because i want to break in. Treasury secretary Steve Mnuchin testified before the Senate Banking committee, the administration is focus on, quote, significant middle income tax cuts. What do you make of that . Im not against that put people at the top being heavily penalized, trump said yesterday the middleclass built the economy. How hard workers bill the economy but it really is the people at the top who are the dynamos, the entrepreneurs, venture capitalists, those are the folks who drive the economy and you cant ignore them. You got to Pay Attention, make sure they are investing here and not investing abroad. I dont agree with that new direction i see the administration going in. Stuart chris edwards, thanks for joining us, we appreciate it. We told you yesterday we are covering the story, a tech worker who was arrested and charged with bank fraud. He was caught trying to leave the country. The Mainstream Media has not touched this story almost at all. Joining the is kristin tate. Is there something going on behind the scenes here with this story that makes the establishment media walk away from it . This is an amazing story of Dc Corruption and yet the Mainstream Media wont cover it not because the Mainstream Media is a permanent fixture of the dc swamp but this story is so strange, this tech worker was charged with felony bank fraud months ago and banned from the house Computer System and yet Debbie Wasserman shultz kept him on the taxpayerfunded payroll until tuesday when he was arrested trying to flee the Country Blues not only that because she threatened Capital Police because they seized one of his computers, she wanted them to return that computer. This begs the question, why did Debbie Wasserman shultz keep this man on the payroll for so long . I think something much bigger is going on here and i think there is something on that computer that terrifies her and she does not want that exposed to the public. Stuart the man on the screen moment ago is one of three pakistani brothers all of whom were paid an enormous amount of money and all of whom, i believe, had access to the Computer Systems of nine democrats in the house. That carries the story even further. One and his family members collected 4 million from House Democrats during recent years. Most of these democrats fired him months ago when he was charged with felony bank fraud. Debbie Wasserman Schultz is the only one who kept him on the payroll which is why it is very suspicious. Very strange story and a reason Debbie Wasserman schultz want this to not be covered, i think she is hiding something. Stuart mike pence is defending donald trump for his public frustration with attorney general Jeff Sessions. The president has been very candid, with the attorney generals decision to recuse himself, his attention to do so before he was confirmed as the attorney general. Stuart do you think donald trump should stop tweeting about Jeff Sessions . I do. I think mike pence is eloquently spinning what trump is doing. If trump wants to fire Jeff Sessions he should stop publicly slamming him and deal with this quietly. People need to remember Jeff Sessions is one of the few people in washington dc who is carrying out trumps agenda, tackling border issues, dealing with sanctuary cities, taking down these them have 13 gangs. Trump has two options. He can keep Jeff Sessions which i think he will do or he can fire Jeff Sessions. If he fires Jeff Sessions, what now . Trump cant just wave a magic wand and put Rudy Giuliani in their. He needs senate confirmation. The only way to get around that is by doing a recess appointment and Senate Democrats made it clear that if trump does that they will do everything they can to stop him. Trump should stop slamming sessions that if he wants to fire him just keep it on the d. O. And deal with this in a quiet respectful manner. Stuart dont get that from donald trump very often. Thanks for joining us, appreciate it. Check this out. One of the three astronauts on the International Space station took video of this. The aurora australias. The southern counterpart of the northern lights, aurora borealis. They show the video flying south of australia, 250 miles above the earths surface. I like that video. Harvard university considering a ban on fraternities and sororities, more inclusive but one College Student says if harvard is so worried about being exclusive they might as well shut down the whole institution. He writes for the New York Post opinion page as an intern next. Later this hour, Kellyanne Conway on the president s tweets, tax reform and talking the leaks. You are watching the second hour of varney and company. O eat. I love hanging out with my friends. I have a great fit with my dentures. I love kiwis. Ive always had that issue with the seeds getting under my denture. Super poligrip free. It creates a seal of the dentures in my mouth. Even well fitting dentures let in food particles just a few dabs of super poligrip free is clinically proven to seal out more food particles so youre more comfortable and confident while you eat. Super poligrip free made even the kiwi an enjoyable experience try super poligrip free. Thats it. Im calling kohler about their walkin bath. Nah. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] mmm. 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They didnt bring as much money from ticket prices they thought they were going to and it is down 16 . Boeing has hit another record high, put up strong numbers. It was up yesterday and up again today. Is that todays quote . Is up another 8 . I didnt know that. That is on a tear. Visa hitting a record high, slipped back a fraction. 100 a share on visa as we speak. Hewlettpackards ceo, meg whitman, stepping down from hewlettpackards board. Is this a sign that she will be the ceo of huber . She has not been formally approached but evidently is on the short list, half a dozen candidates, to take over this company that is in crisis. She was an early investor and has been counseling huber throughout the crisis so we will see if she makes it through and does anyone need a woman to stearate . Stuart yesterday you asked me what i take the job and i said absolutely i would because that job comes with a piece of huber. And a piece of 70 billion is pretty good anyway you slice it no matter how small your piece. A couple weeks ago we told you about harvard. There faculty wants to ban all social groups. Are next guest is a College Student and an intern at the New York Post and he wrote an editorial. He said instead of demanding madeup rights like equality and exclusivity, it would be much better for harvard to work on fixing attendance, story policies and create better policies to crack down on actual problems like underage drinking and sexual assault. The man who wrote it, the intern, Brendan Cleary is an intern at Hillsdale College which i know very well. First of all, am i right in saying harvards faculty are opposed should modern, sororities, fraternities, political groups, you name it, shut them down. Harvard faculty, a committee of them propose a ban on all single gender organizations, fraternities and for sororities and social clubs. Stuart what is the logic behind it . The logic behind it is not everybody can be part of it and no one should. They have this idea of inclusivity, Everybody Needs to be part of it. That is the driving force behind it and that is ridiculous. I dont understand. Harvard is such an exclusive college. They expect 6 of people who apply to be the top in the country. Stuart if you been fraternities and sororities, you are saying they should do something about underage drinking, a feature of sororities and fraternities. Colleges have been fraternities and how successful it has been for them, they still have these problems of sexual assault. Williams College Leads the nation in sexual assault. Banning fraternities and sororities wont solve anything in the problem is harvard itself does not take a stand on underage drinking like it should because they only give a warning for the first offense for underage drinking. Stuart is that a big problem for you . It is not. Stuart underage or other eyes. I dont think of it is a huge problem in american colleges with a free speech as a problem. It is so widespread. People when they go to college i told this is the time to experiment and have fun but dont do too much because that would be bad but they are told you should be drinking and having a good time and learning who you are. It is pretty crazy. Stuart am i right in saying hillsdale doesnt take a dime from the government . Does not take a time for the government, it is all private donors. Stuart thank you for joining us. Who knows where you will go in your career but i hope you go far. Coming up planning a trip to mexico, you have been warned, the state Department Says resorts may be drugging tourists. You will not believe the details but we will give them to you. Shes nationally recognized for her compassion and care. He spent decades fighting to give families a second chance. But to help others, they first had to protect themselves. I have afib. Even for a nurse, its complicated. 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Xarelto® can cause serious, and in rare cases, fatal bleeding. Get help right away for unexpected bleeding, unusual bruising, or tingling. If youve had spinal anesthesia, watch for back pain or any nerve or musclerelated signs or symptoms. Do not take xarelto® if you have an artificial heart valve or abnormal bleeding. Tell your doctor before all planned medical or dental procedures. And before starting xarelto®about any conditions, such as kidney, liver, or bleeding problems. Its important to learn all you can. To help protect yourself from a stroke. Talk to your doctor about xarelto®. Theres more to know™. Stuart astrazeneca, their lung cancer drug failed, their stock is down 15 , massive drop for a big company. Bristolmyers as well has a similar therapy, that stock is down 5 . Now this. The state department is warning tourists about tainting alcohol at resorts and mexico. Give me the full story. This is the warning. The allegations that consumption of tainted or substandard alcohol has resulted in illness or blacking out. There was one case back in january, 20yearold woman from wisconsin was vacationing with her family in mexico. She was allegedly served tainted alcohol and died. Since then, several of your people have come forward after an investigation by the milwaukee journal sentinel, they experienced the same thing. The department is cautioning people who drink alcohol in mexico to do so in moderation. If they start to feel sick, get to a hospital immediately. Stuart tainted alcohol, are they putting something in it . 2015 report from mexicos past Administration Service found 43 of all the alcohol consumed in mexico is illegal, produced under unregulated circumstances resulting in dangerous concoction. Liz methanol which is used as an antifreeze metabolizes into formaldehyde in the body. This woman became braindead. It is bootlegged alcohol, allinclusive resorts in mexico. Stuart thank you, i like it, good story. Donald trump taking aim at two members of his cabinet, Reince Priebus and Jeff Sessions, are there days numbered . We will ask at 18, the only person known to have rained in the president and his twitter account. She will answer our burning questions. Stuart right 10 30 eastern time and look at this rally. Still ongoing on wall street. We are up 73 points, 21,784. Please Pay Attention to the value of facebook. At market value has gone up by 20 billion. I believe that makes Mark Zuckerberg worth more than warren buffett. That just happened. Amazon, a gain of 17, makes founder jeff bezos the richest person in the world. Neck in neck with gaetz. Foxbusiness is learned Republican Leadership is trying to hammer out details of a plan, tax reform plan tomorrow. Congressman Roger Williams is with us, republican from texas. I keep hearing about higher taxes on wealthy people. How do you feel about taxing more the rich . We need to have, we dont pick winners and losers, we have the highest tax rates in the world, we need to bring midline to compete, we dont need to be raising taxes, we need to be cutting taxes, empowering mainstreet, putting people back to work and creating cash flow in our country. Stuart tomorrow if we get the tax plan is there one single item you can tell us everybody agrees on . We need to cut our rates and i hope we can agree on things like repatriation. Stuart the one thing you are sure we are going to get that everybody agrees on is cutting individual tax rates or Corporate Tax rates . We can count on cutting Corporate Tax rate. Stuart that is one thing guaranteed . Everybody agrees on that. Most of us agree so we will see what happens. There are no guarantees in this town. Stuart what about the rate you will cut it to, Corporate Tax rate 35 , donald trump wants 13 . Where do you think we might end up . I have been talking a 20 rate. We could end up there and that would be great for mainstream america. Lets put people back to work, make some money and consume it. Stuart sorry to cut it short but i will leave it with you dont want to tax the rich any more than they are text right now. Lets have a job creators and put people back to work again. Stuart Roger Williams, thank you for joining us, we appreciate you. At the top of the hour i said we are never going to predict what donald trump will do next. Our next guest is the only person who has ever had success in raining him and. Kellyanne conway is with us, counselor to donald trump. It has been a long time but welcome back, good to see you. Always a pleasure, thank you for having me. Stuart an editorial half an hour ago i said you cant control this president and you never will. Are you happy with that . The president is somebody who connects directly to the American People. He cut out the middleman through social media platform and sometimes the middleman, the Mainstream Media, doesnt like that. Because of his social media platform which reaches 109 americans he is able to convey a message at the same time, billionaire ceo in the ivory tower with 20 people working social media platform, communicate the same time the plumber on the job is taking his phone, the stayathome mom. It is a powerful democratization of information. In terms of what he is doing that doesnt have the coverage look at what happened in the last couple weeks, the 6month mark, 26 record highs by the dow jones, all the stock market indicators are up, consumer confidence, manufacturing confidence, homebuilders confidence, you cant argue with the metrics, very positive metrics that are in place and when you look at 800,000 jobs created since he was elected president , look what happened yesterday behind me in the white house, fox kind announcing its plant in wisconsin, amazing news. Stuart that was overshadowed by the president s tweets. Only if we let it be. Stuart we didnt let it overshadow it but in general terms, what made headlines was the president saying no transgenders in the military. Forgotten almost, certainly swept under the rug was the wisconsin news of fox kind and all those jobs. That is the selectively of the media and what they want to cover. That is an abort point. 24 7 news stations, the idea that the same chiron, the same story has to dominate every Single Program 24 7 is folly, and insult to americans. Everyone is afraid to break out of the sameness, to not be a living, to go a different direction and cover news. They dont want the president to get credit for the great things he is doing for this country. The ideas that one of the people in wisconsin who is going to get a job, the president s efforts with fox kind and having that plant located there, where will that person care more about x why the your his job . Stuart attorney general Jeff Sessions is being chastised, some would say humiliated in public. Is that over . Or can we expect more criticism and chastisement from the president . The president made clear he is disappointed and frustrated with the recusal, he think that was unnecessary, it was premature. Without notifying him or consulting with him and he feels there is a direct line between that recusal and what seems to be this ridiculous russia investigation with the president repeatedly called a witchhunt and a hoax. It the same time the president is pleased the attorney general Just Announced increasing intensifying effort to cut down on leaks because leaks and holdovers in these departments is imperiling National Security and the agenda the president is trying to force through here. The fact the attorney general and other department are cracking down on the leaks is incredibly important to this president. At the same time he has made very clear he is disappointed in the recusal and Jeff Sessions made very clear what he intends to stay. Stuart this is just coming to us, fox news channel, quoting a Senior Administration official as saying, quote, one of the worst things you can do to donald trump is to show insecurity. Sessions showed that. Writes priebus has showed that. What is your reaction to that . Without talking about specific colleagues in members of the cabinet with whom i served, i am going to serve whoever the president asks me to serve. Everybody who works for this country come of this administration, should be people who want to be here for the right reasons. You have to subvert your own ego and put the Country First or lots of times you have to swallow really hard to go ahead and push forward in the agenda. Only two people, only two people have been elected to anything and donald trump and mike pence. Is he in trouble . There were elected on a set of ideas and promises, i work with the president and Vice President , and watch them closely, and focusing on those promises. Obamacare about to be revealed and replaced and 6month, its a president obama 60 month to pass something he was promising people a lot of goodies and had a democratic majority, should have been able to do it in 16 seconds, not 16 months and they are making good on that, the energy unleashing, the Veterans Administration reforms for military and veterans, job growth, tax reform we are working on, so many great things happening. Stuart the Tax Reform Program you are working on. A couple bombshells here. The president told the wall street journal he is not averse to raising taxes on high income people and we have this report that steve bannon is talking about a 44 rate on people who make 5 million or more, taxing the rich from a Republican Administration. Is that being actively discussed inside white house . The major goals of tax reform are it is fair and simple, that it is true middleclass tax relief and reform and it makes our employers more competitive to create jobs, to offer employment to americans here at home so employers main competitor, one of the highest tax in the world and we have been strangling our entrepreneurs. Do you know how many, how do we quantify people stuart is the administration in favor of taxing rich people more or not . The administration is in favor of middleclass tax relief which is different but the good thing about working for this president and this administration is he does not shirk away from hearing different insights and disagreement and dissension. One of the most ridiculous flatly false things i hear about this president and this administration is there is no one around him who disagrees, no one around him to tell him xyz, that is false. It is the opposite. He has people around him at all times who disagree with each other and disagree with different aspects of what is being discussed and always welcomed to offer different insights, inputs, ideas and impressions and that is a very refreshing thing. The tax reform and tax relief, two different things, principles are the same. The fair and simple parties we as a nation, 7 billion hours and billions of dollars each year complying with this byzantine labyrinth called the tax code. We need to make it similar to do efiling, simpler and easier so middleclass taxpayers that cant afford fancy aa should be paying the money in a Software Package and could be buying Educational Software for the children instead. We need to make it similar and easier to comply to the tax code. Stuart at the start of this hour i told our audience you were our guest and you were the only person i know of whoever rained in the president s twitter account. Did you in fact take it away from him or somehow filter it in the middle of the Campaign Last year . I would never discuss that publicly but i will tell you that i am a fan of the president s ability to connect directly with americans, unfiltered and unfunded iced if you will and it angers the media dont want him to get his message directly to the people. I would also point out i asked about three weeks ago to do an analysis of the president s tweets in the month of june and in the month of june the president send out 180 or so tweets and most of them, the vast majority of them had to do with policy, bilateral meetings at the white house, his foreign trips, ideas, things he is working on with congress, americans you met along the way, rallies he was holding and those get significantly less coverage than the other tweets. I say to people when they argue we would have been covering fox calm and healthcare, and they have digital platforms. And we employ the media to do that, with the information. I am pleased the president tweeted about this program. We still have a rally, nice one going on, 66 points up from the dow. Big tech flying high again. Look at that list. Facebook at 174, up 9 is that makes lederberg more wealthy than warren buffett. Amazon, their founder, jeff bezos, the wealthiest guy in the world, microsoft, up, apple is up, big tech is on a tear. We will be back. Hello, this is adt, is everything ok . I could hear crackling in the walls, and my mind went totally blank. All i remember saying was, my boyfriends beating me and she took it from there. When a fire is going on, youre running around, youre not thinking clearly, so they called the Fire Department for us. And all of this occurred in four minutes or less. Within five minutes. I am absolutely grateful we all made it out safely. Its kind of one of those things you cant even. You cant even thank somebody. People you dont know actually care about you. To protect what you love, call 1800adtcares tom telus says he will listen to any tax policy for growth. Lets take a listen. Stuart tax increases on the superrich. What do you say to that . If we think we can tax by taking the rich we will run out of rich people. I am willing to listen or consider any sort of tax policy that promotes growth. Right now anything is on the table but at the end of the day. And and we get people back to work. Today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Stuart solid rally, 69 points, 19 points from 218, 200 points from 22,000. He says we will get tax cuts. And before the Senate Banking committee. Regulators, dialing back on regulations of banks as the government under trump has been doing across the board. There is a 17 year low in federal rulemaking under this administration according to the wall street journal. Stuart interesting news was not sure i understand the volcker rule. Back to a very important story not covered by the media. Debbie Wasserman Schultzs tech worker was arrested while he tried to flee the country. Media reporter for the hill. The Mainstream Media is finally picking up on this story. I want to know what the nittygritty is. What is at stake . At stake is a former dnc head who was ousted last summer under horrible circumstances, who hired a man who she paid for Million Dollars to who was banned from even working with the white house or working in government, tried to flee the country. This is a story abc and nbc decided they were not going to cover. Cnn and msnbc, same deal. Our media political media, not local media or war correspondents international, political media is broken. When the story gets ignored because of party affiliation, nothing more. Stuart three pakistani brothers including the gentleman who tried to flee and arrested on his way out of the country, three pakistani brothers had access to Debbie Wasserman schultzs Computer System and the Computer Systems of eight other democrats in the house. The implication is that the brothers were into those computers and doing what. I have no idea but i would like to play game with you. Lets replace Debbie Wasserman schultz with Reince Priebus, the former are in c head with donald trump junior or maybe jared kushner. Do you think abc, nbc, cnn, msnbc would be covering this walltowall 24 7 . Stuart he is they would. That is the problem. 93 trump voters according to a zogby poll dont trust the media. Majority of democrats 57 say coverage of Donald Trumps too negative and this is an exact example, not exactly coverage but the omission people see and say what are you doing . You are not doing your jobs. Stuart i find it fascinating and thank you for digging into this. Come back again. We have not heard the last of this. This is only the beginning. Stuart welcome back, thank you very much. When i saw the headline, not expecting it. A Republican Administration saying tax the rich. That is what we are hearing from inside the white house, my take on that at the top of the hour. In our next hour, and coulter author of the book in trump we trust, is the president doing enough to please his core supporters . She is on the show 11 45 this morning. Whoooo. I enjoy the fresher things in life. Fresh towels. Fresh soaps. And of course, tripadvisors freshest, lowest prices. So if youre anything like me. Youll want to check tripadvisor. We now instantly compare prices from over 200 booking sites. To find you the lowest price. On the hotel you want. Go on, try something fresh. Tripadvisor. The latest reviews. The lowest prices. Your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Back to the Rolling Stone cover, justin trudeau, the question is why cant he be our president . Have at it. I love this headline. Online it says he is the north star, the best hope for the free world. Two different headlines, when is on headlines, theres a different headline . Totally different headline which they do sometimes. Different headlines appeal to different people. Last i checked, stock market in canada probably not doing well. The 41st record high since the election. And implement at a 10 year low. This is strictly all about if you read the piece, Justin Trudeaus hair which is tremendous, dont get me wrong but we saw this in the 90s, Prime Minister blair in the uk had eclipsed bill clintons popularity and us media was saying why cant he be our president. We do this sometimes. Rolling stone doesnt cover in the story canada how the housing bubble. They are really having a debt crisis up there, moody have downgraded their big banks and wage growth is at 1998 levels. That is missing in the story. He is a better looking guy, doesnt tweet provocative things, that makes him a better president and they havent won the stanley cup since 1993. Liz we have more after the break, dont go away. Ch yorive a ford pickup, right . in unison russ, leland, gary yes. Gary i have a ford f150. Michael ive always been a ford guy. Potsch then i have a real treat for you today. Michael awesome. Potsch im going to show you a next generation pickup. Michael lets do this. Potsch this new truck now has a cornerstep built right into the bumper. Gary super cool. Potsch the bed is made of highstrength steel, which is less susceptible to punctures than aluminum. Jim aluminum is great for a lot of things, but maybe not the bed of a truck. Potsch and best of all, this new truck is actually gary all laughing oh my. Potsch the current chevy silverado. Gary im speechless. Gary this puts my ford truck to shame. James ill tell you, i might be a chevy guy now. laughing 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,. 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. 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Direct appeal to the president s base. The super rich would pay for the tax cuts his supporters demand. It is politically expedient taxing the rich would blunt the democrats attack line. Rich didnt vote for trump anyway, a lot of them voted for bernie sanders. It is surprise. Who would have thought that a republican president and rightwing adviser would publicly support raising taxes. Thats not we heard on the campaign. That was then an this is now. Maybe the president is learning thousand play the political game, maybe hes turning into a pragmatist. As we said, earlier this president is full of surprises. He specializes in shock and hes done it again. This is not your fathers republican party, is it . The third hour of Varney Company is about to begin. Stuart the beatles. Tax man. Always a Favorite Song here or not. Check the big board. 66 points higher for the dow industrials. Quite a bit of red on the lefthand side of the screen. Alltime how for the dow today, s p 50 today 500 today, nasdaq today. We will be on top of it, guarantied. Budget for 18, any headlines that comes from that or ongoing debate on health care. But first, we are joined by weekly standards executive editor fred barnes, 44 of incomes of 5 million, thats not what we are use today from the republican party, what say you . Its a terrible idea, its a terrible idea economically. Idea of tax reform and tax cuts is to spur Economic Growth by generating more Business Investment which has been down for a number of years. This wont do it. Itll have the opposite effect. Theres the political problem. If you want to talk to paul ryan, ask him, hes not going to be for raising taxes neither kevin brady or chairman of chairman committee. Maybe youll get a white house person to be in favor of this and i dont think Steve Mnuchin, treasury secretary is going to be for this. Im not sure about gary cohn but i think this on many grounds does not fly to raise the other rate for people even over 5 million. Stuart hold on, i will bring peter. Hes very good. Stuart all right. If this tax were put in place, higher tax rate on very rich, highincome easterners, would it give us any Economic Growth . No, take away from Economic Growth. Lets remember that more than half of businesses in america pay taxes through the personal income tax code and as a consequence they already paying rates more than 50 , phase out of deductions and all the rest to have stuff that the liberals have built in tax system. The only republican i would expect to go for this would be mitch mcconnell. He will do anything thats expedient. For example, carry on the entitlements, the obamacare taxes, but if hes really serious, if mr. Trump is really serious, then he should be advocating getting rid of carried interest benefit that he and other folks on wall street and new york benefit from. They dont really pay income tax rates because most of wages and incomes they pay Capital Gains tax. If he was serious, he would be talking about that. This really isnt a serious proposal for all of the reason that is fred has outlined. Stuart fred come back again, please. Its politically expedient to some degree, what do you make of that . Well, it would be if they actually come out for this. I doubt to raise to 44 . Its a dumb idea and wont generate, will not generate Economic Growth. The notion which i think you mentioned, stuart, that somehow this will blunt attacks by democrats, thats not the way it works. The democrats will pocket this and they will attack them on other grounds. Thats the way it always works. Stuart youre absolutely right. I wonder what Chuck Schumer has to say about this. Finding some way to criticize it, im sure. Trump can advocate 100 tax on everybody on over a Million Dollars, there he goes again, out for the rich. Stuart peter, throughout this interview weve had on the lefthand side of the screen the extraordinary performance of the Stock Company and Tech Companies, the Market Investors are now focusing on profits an absolutely not the swamp in washington; is that correct . Well, thats right. Good thing about donald trump getting elected is not what hes getting done which isnt a lot, all the stuff that hillary is not getting done. Whats more, the tech stocks took a big dip during the recession and afterwards and now they have recovered. We have a high data with the stocks, they are not overvalued. The market is generally not overvalued. In my judgment s p can go up above 300. If we manage not to have a recession because they muck things up in washington or the fed or something. Yeah, the market can support pes about 35 to one these days because the implicit price of capital has gone down for variety of technological reasons. Nothing to do with the fed. As a consequence, the historical average, you know, leading up to this year over the last 25 years was 25. That gives you a big boost as to what you can sustain. A lot of the rally is the final recovery from the great recession. Now we start making the gain that is we are supposed to make. Stuart back to you, fred. I dont want to talk about the they wanes company foxconn, they are going to build a 10 billiondollar plant in wisconsin employing up to 13,000 people. I think thats a big win for President Trump but i dont hear much about it in the media. The media doesnt like President Trump. You heard that. Its a big win for wisconsin. I dont know who is giving the tax breaks to this big company to do it, probably the federal government well anyway the state and its a good idea if it really happens, 30,000 jobs. That certainly gives President Trump something to talk about. Stuart peter, this is something that President Trump has certainly talked about it and now reality. You cant say he hasnt achieved very much. On this front he has something to brag about. I mean, he does. Armtwisting some other companies to keep jobs here that they were going to keep anyway or build plants they were going to build anyway. This is green field, which is wholly new. Lets face it, we cant have unilateral disarmament with regard to the chinese. The chinese are aggressively attracting hightech businesses specially, for example, in areas like Artificial Intelligence and super computing and so forth. We have to counter, if it takes dollars to get it done, spend them. Stuart spend them. Well, better than spending on entitlements. Why not creating jobs instead of putting somebody on the dole . My comments last time i got one note from another professor commending me. The administration didnt beat up on me this time but on other occasions that ive heard from these people stuart youll be hearing from them today. Stuart fred barnes and peter, i think this is an exciting day. Thanks for being here. Now, this, amazon jeff bezos, founder of amazon, right, he has surpassed bill gates to become the worlds richest person thanks to yet another alltime high for amazon stock. By the way, amazon reports its actual profits and numbers after the closing bell this afternoon. The market depending on those numbers, we could go even higher. Right now amazon is up 20 bucks at a thousand 73. You have to watch fox business at 4 00 oclock this afternoon to find out how much more jeff bezos will be worth. Currently what is it 91 . He went up 24. 5 billion just today in value. Stuart look at, say that again. Up 24. 5 billion. Stuart no, he cannot be up 24 billion today alone. I will look t it up but its up this year. This year. Mark zuckerberg shy to be the fourth richest. Stuart we will be joined by ann coulter, there are reports she met with the president and set the record straight, what happened back in a moment. And by the way, 20 minutes from now, House Speaker ryan holds weekly conference, we could hear more details about the tax reform plan thats due out tomorrow. We will ask about that but we are going to be joined by special report host bret baier, the wall street journal report growing support for a skinny Obamacare Repeal bill. Bret baier will break it down for us. The state to play from bret so we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. Stuart when the market opened up this morning the big story was facebook, now the big story is amazon up 20. This means that jeff bezos, the founder of amazon, he owns 17 of the company and bearing in mind that stock price a thousand 73, he is now the richest person in the world, and i believe his net worth today is up, what, 2 billion. About 2 billion. Stuart roughly 90. 8 billion just surpassing bill gates. As its trading now. Yes, youre right. Year to date, year to date hes up 24 and a half billion year to date. Stuart i do feel that this story is more powerful an exciting than politics. Yeah. Stuart nonetheless we have to talk politics right now. We are talking fight for Health Care Reform. Wall street journalist says growing support for socalled skinny Obamacare Repeal bill. Come on in bret baier. If this is looking promising, can you give us a state of play on the skinny bill. I want to go back to the fat wallet of bezos, that was a pretty good story. The skinny bill is getting a little bit more attention on the senate and thats because theres a lot of pressure being put on the senators to get something finally to conference even though they dont know exactly what that manager is at this point, stuart. This is really ironic for republicans to be pushing this after giving nancy pelosi so much grief for saying, you to vote for it because you know whats in it. What this says its a vehicle, the skinny bill is a repeal vehicle and tonight they will be doing a voterrama and do amendments as they try to get something into the conference commit we with the house where they think they can work out a deal on health care. Stuart does it look promising because the republicans are desperate . Yes. It looks more promising today than it did yesterday. There are still some serious holdouts namely Lisa Murkowski from alaska who got a call from the interior secretary saying that they were very concerned about her her stance on health care and obviously interior has a big play in alaska when youre talking about an administration and i think Susan Collins is also been lobbied aggressive by the white house as well. As you get closer late tonight or Early Morning hours friday, a lot of pressure of seven years of repeal and replace talk where they can finally get to a place to debate it and get a final bill. Stuart im very sorry to tell you bret, late tonight we will be dealing with amazons profit number and the very fat wallet of jeff bezos. Im very sorry. I will be live at 11 00 tonight. Stuart moments ago i asked Kellyanne Conway if Reince Priebus is in trouble . You have to ask the president that. We all receiver at the pleasure of the president. Stuart rumbling that there are big changes coming within the white house staff. What have you heard . I can answer the question differently, yes, hes in trouble and that is clear by what youre hearing not only publicly but behind the scenes and that is, you know, Anthony Scaramucci is not holding back at one point this morning essentially saying that Reince Priebus was a leaker, he walked that back, but there are sharp knives for the current chief of staff. You could have a summer shakeup as the white house tries to get sea legs under it. Stuart i still say amazon is more exciting than politics. Im sorry about that. Reality show down here, though, stuart. Stuart we have a financial extra vague extravaganza up here. Check out stock of chipotle. Second point, the company has been received a criminal subpoena at the latest food scare, the stock is actually up 4 bucks. Ten minutes away from House Speaker ryans press conference. Youll find out real fast. Very soon after that, we are joined by conservative author ann coulter, whether he ask her is President Trump paying attention to core supporters. Check this out, time lapse vehicle of the sudden lights captured by International Space station. Thats pretty good video. I like that stuff. Thats the opposite of the northern lights. Thats right. Stuart auroa borealis. Thats right. [laughter] stuart a little sonatra now and then, why not . Im going to show you a sketch of the new york city skyline drawn by President Trump. He made it for auction but that was back in 2005. It returned to the Auction Block today and the starting price is 9,000. Trump tower can be seen at the center of the sketch and President Trumps signature is in gold marker right there down the bottom, righthand corner. You cant really see it but its there. The Southern Lights known as aurora borealis, auroras occur when particles from the suns atmosphere collide with particles in the earths atmosphere creating very colorful streaks of light. I love that stuff. Southwest airlines seats for next months solar eclipse. Offering a special deal that will passover parts of the country this have a really good view of the eclipse. August 21st. Flyers will get glasses and cosmic cocktails, book now. Foul ball during baseball game, spilled beer, missed, the son wasnt happy, it happened in the rangersmarlins game tuesday night. Fox sports broadcasters felt so bad, they stopped to give him a bag of souvenirs and baseball. Spills the beer, spill it is beer. He didnt get everybody loses. All right. Nine months after the cubs this is a good story. Nine months after the cubs win world series theres a baby boom in chicago, spike in number of births this month. Many mothers conceived during the playoffs. This isnt the first time a big sports win has triggered a baby boom, same thing happened in boston, nine months after the red sox beat the cards. We thought you would need to know. Last hour, Vice President mike pence said tax cuts will get done this year. In just a few minutes, we will see if House Speaker paul ryan has anything to say about that. Stuart i used to dance to this one when i was 17. That was a long time ago. Moving on. [laughter] stuart still a rally, barely, 48 points higher. Look at the level 21,760. Still a lot of red on the lefthand side of your screen. Moments from now we are expecting House Speaker paul ryan holding conference, we are on top of it. Rest assured. All right, im staying on taxes. Listen to this. Steve bannon, principle strategists for the Trump White House is pushing, we understand, a 44 tax rate on incomes of 5 million a year. Im going to bring in doug for this one, coauthor of the book america in the age of trump. I take it that you as a democrat thoroughly approve of raising taxes on very wealthy people. Nothing could be further from the truth. I am a mainstream common sense democrat and if you raise taxes that high, you stand incentive, initiative and you basically drive wealth underground. Stuart thats not mainstream democrat and you know it. We had a bipartisan reduction of rates to 28 and as casey once said stuart that was a long time ago. Okay. Now im saying that this this approach raise taxes on the rich is a political soft because it buys a middleclass tax cut and appeals to trumps base which they dont care about billionaires, why should they care . If this was proposed, dont you think that other democrats would say, yeah, right on bannon. I think democrats for their own reasons are in resistance, they would oppose everything. But republicans would be quite rightly because candid dye what workingclass people want is to be rich and they would hear tax cuts on the rich, thats going to be me some day when i make my fortune. Stuart President Trump is not your average republican president , isnt he . Steve bannon is not your typical republican adviser. Stuart thats right, different people with different ideas. Im from low taxes, im from across the board reductions to get stimulative effect of tax cuts like arthur, steve moore says, we did it with bill clinton when we cut the Capital Gains, 15 in 1997, if i remember correctly. It worked. Im sorry. Stuart to get this in, tell me about Debbie Wasserman schultz, her technology guy has been arrested charged with bank fraud, he was trying to leave the country, one of three pakistani brothers that had access to Debbie Wasserman schultzs computers an several House Democrats. Is there something going on under the surface that i dont know about . I think theres something going on, stuart, below the surface that we all dont know something about. The guy had sent 300,000 from the federal credit union to tack pack pakistan. We need to get to the bottom but we need to find out what the heck the democrats were doing, why this guy was fleeing the country and what the substance is of what was going on. Stuart why did Debbie Wasserman schultz take so long to get rid of the man, she only fired him, i think, a day before yesterday. Thats something that we should also Debbie Wasserman schultz, maybe she will come on the show. Stuart the implication is, this is serious stuff. I know it is, i agree. Stuart the implication is that these three brothers had access to democrats computers and i know he had access to Debbie Wasserman schultzs password for her ipad, that gives him access to all kinds of stuff. Thats right. And look stuart was he a spy . Thats what im worried about. Isi maintains spy network and ties to terrorists, lets be candid. This race is very, very troubling questions and as you point out, stuart, this is in politics, its not partisanship, its american security. Stuart okay. Do you know anything about Hillary Clintons book that comes out, i think, a little later this year, i believe its coming out later this year, its about the book what happened. I think she blames the russians. I think she blames the russians, i think she blames jim comey and the pun person she doesnt blame, stuart, hillary clinton. You know what, i wrote a piece yesterday on the hill, goodbye to hillary clinton, i think its time for her to step off the stage, find something productive to do and stop pointing fingers. Stuart will she do that . Will she walk away . The chance about that is zero. I think i did. Stuart head on. Directly. Stuart doug shoen still a democrat. Thank you. Stuart joining us Michael Johnson republican from louisiana. Congressman, welcome to the program, good to see you, sir. Will you please pass comment on the suggestion of taxing wealthy people, highincome easterners even earners even more and this comes from republican white house. I was delighted to hear dougs comments as my democrat friend and we would punish success and disincentive for people to take richings risks and entrepreneurs. Its the opposite of what we want to do. Stuart would you hold on a second. I have paul ryan in press congress. Listen in. Fantastic job at the white house and i believe he has the president s confidence. If those two gentlemens have differences my advice would be to sit down and settle differences. I think reince is doing a great job as chief of staff. Casey. Stuart that was a question about the status of Reince Priebus within the administration. He has been in some trouble, we understand, that was the question to paul ryan. Another question. Listen again. As you know, about to go to voterrama, all of the amendments, its anybodys guess what they come up with. We will reserve judgment until we see what the senate actually produces. [inaudible] im going reserve judgment until i see what they actually produce. [inaudible] yes, extending our session is obviously an option that we are considering. I think the majority leader will make tentative announcements later on. The question is what does the senate do, we dont know what the senate is going to do so therefore we will reserve judgment as to what our response is until we find what the senate actually does, so tucker, i cant see. Making sure. [laughter] [inaudible] [laughter] i dont read that stuff. Did he tweet about that . Im just joking. Go ahead. [inaudible] i think what you saw, correct me if im wrong, 419 to 3, but you add all three, all but three voted for tough sanctions on the three regimes, north korea, iran and russia. The message coming from congress on a bipartisan basis is these are hostile regimes and sanctions are warranted and called for and we want to make sure that they are tough sanctions and endurable sanctions, it took us a while to figure this out and get the policy right. There were constitutional issues with the senate. We got through those and we all agreed, we believe these tough hostile regimes deserve sanctions. Stuart as you heard from speaker ryan, hes not going to say anything about the skinny bill on Health Care Reform. Hes not going the say anything about tax reform, tax cuts and the plan that supposedly coming from the senate fairly soon. Congressman is still with us, Michael Johnson, im not surprised, can you be a bit more forthright on what you see happening to Health Care Reform in we get the skinny bill, for example, from the senate, what do you think will happen in the house . The speaker today is being diplomatic, we are frustrated in the house. We worked hard to get a bill in the senate and we we are waiting on them to do their job and continue the process. They have to take it to the next step so we can get it into conference and come up with something that solves this crisis with sob im care, as you know, its imploding and we owe it to the American People to get it fixed. Stuart will we get something at tend of the day . I think we have to, i think we have to. Premiums have risen 124 across the board. Premiums are sky skyrocketing and deductibles are skyrocketing. Those who have it, cant use it because its costly. Its a problem and unsustainable. We lost 83 insurance policy providers on the exchange this year and many, many more will be leaving us by january. So we have a situation that is a lit real crisis that the whole market is is tottering on the brink and we are waiting on the senate to do something substantive so we can act on it and get this done for the people. Stuart are you prepared to stay all the way through august to get something done . I can tell you the consensus here in the house is we will do whatever is necessary to get this done. We owe this to the people. The august recess is important because we get to go home to be with our constituents and do town halls and evens but the people back home would understand if he had to cancel a town hall or two to get this done. This is what we all promised to do, stuart and we are committed to making that happen. Stuart i will suspect that if you dont do anything, the political blame will rest on the republican party, do you agree . I think thats probably the guess. Certainly thats what the media will do and everyone. Some of that blame will be rightfully placed. We went out and campaigned and told everybody we would do this and i think we have to. We have given the vehicle to the senate to continue this process and we are continuing on them to send us something that we can work with. Stuart congressman Michael Johnson, thanks for joining us. Appreciate it, thank you. Stuart individual stocks which are moving today start with microsoft, new alltime high. The trumpets because i own slither of microsoft. We backed off just by 20 cents. Seventyfour dollars a share. Microsoft. Verizon adding more subscribers. Verizon isa huge company and up 7 . Very big gain. Digital subscriptions doing well for New York Times, its up 4 . Comcast profit getting a nice boost, their theme parks are doing well for them. A couple of movies like fate of the furious and that company, that stock is up 1 and a half percent. Dr. Pepper snaple, thats the correct phrasing there, their profit fell short but not much change for the stock. Its actually up nearly a buck. The parent of Dunkin Brands making money boosting by liz and i demanding the wrap and ice coffee. Phenomenal, love it. Stuart we are in agreement. Yes, we are. Stuart record high, up 170 per share and that makes founder Jeff Zuckerberg worth 3 to 4 billion more alone. Still shy of warren buffet. Stuart im sorry, Mark Zuckerberg. The stock is up 26. They dont release their earnings until after the bell, the close of trading today and by the way, that stock price moves as of right now makes jeff bezos the founder of amazon the richest person in the world. He just unseated bill gates. Stay right there. Ann coulter is with us after ths but when family members forget, trust angies list to help. [ barks ] visit angieslist. Com today. Im Nicole Petallides with your fox business brief. Pressure today and it was all about a lung cancer trial of drugs. It failed to reach the end point and does not have progression for survival after the length of time and so the stock dropped 16 , the study was looking at immuno therapy, way to boost immune system and attack cancer cells and we have seen it astrazeneca pop and drop, and we are seeing the stock selling off today. Stuart we have reports, unconfirmed report that is say our next guest met with President Trump at the white house and took him to task for not focusing on his base. The author of the book in trump we trust, her name is ann coulter and shes with us now. First of all, anne, did you meet with the president . The one thing i will confirm is that i would never say anything as tacky as you must focus on the base, sir. Stuart im paraphrasing, you know that. Do not tell the Washington Post that he needs to quote, man up, its like they have, you know, a hackometer and come out if something i had ever just say stuart did you in any way, shape or form using any language suggest to the president that he would focus on his base because i think he is focusing on his base. You saw that rally in ohio the other night. I love the rallies. Im totally for the rallies. The fact that he was running on issues that no other republican much less a democrat would touch, he had the 30,000 person focus groups that he spoke to every single day. He didnt hire pollsters, consultants, thats how he hears from i mean, in a week directly from a million regular americans. No other politician can do that. Stuart i think that this idea of taxing rich people, that would be highincome earners more than currently taxed, i think thats an appeal to his base. Granted thats what the president said in wall street journal and steve bannon is talking about. The base doesnt care about taxing billionaires, they want a middleclass tax cut and if its paid for by the rich, sobeit. I think hes going right to the base with that one. Yes, and also id say its not the typical democrat envy of the rich here. This is something trump ran on and no other candidate, republican or democrat, would ever run on for president , im sorry this is your audience but it is unfair, the loophole that allows people who are engaging in trading stocks for a living, Hedge Fund Managers to pay 15 on their income, this is something warren buffet always boasts about how he pays a lower rather than secretary does. That is unfair. Just on a matter of fairness. No, Hedge Fund Managers should be paying the same rate that you and i are. I agree with that. Sorry to your audience. Stuart you talk about carried interest and a lot of the audience absolutely agrees with that. Now, im just getting this coming in. The chairman of the joint chiefs say there will be no modifications to the military transgender policy regardless of yesterdays tweet from the president. The joint chief chair says the military will continue to, quote, treat all of his personnel with respect. You know, anne, this is another example of a distraction. Take you back to yesterday, the senate floor, they are debating health care and up comes a tweet from the president that says in transgender in the military, so immediately attention focuses to that and not the job creation in wisconsin. Would you at least admit that the president sometimes gets ahead of himself and distracts from his agenda . Actually i thought i agree that it was a distraction, i thought it was a good distraction for something i wasnt very happy with the president over and that was his well, i wont characterize them but his tweets about the attorney general, the greatest member of the Trump Administration. That was really getting his supporters and people who support his agenda down besides being delusional and insane blaming the attorney general for things that trump President Trump was responsible for. Add first i thought it was a distraction from that. According to politico article today, if true, its absolutely fantastic according to politico article today, gop leaders are opposing both not having tax payers transgender and opposing any money for the wall. In order to get the funding through for the wall, it was being held up by conservative or i would have thought sane humans in the senate who dont want taxpayers like you and me paying for these lengthy transparency gender operations, years of therapy, i mean, for pete sake you cant get into the military and used not be able to get into the military if you have asthma, psoriasis. Both trumps defense secretary and as you say now, the chairman of the joint chiefs of staff, they are insisting that Taxpayers Fund transgender operations for people with a mental problem. Come on. We are not going to have any ground. Knock this nonsense off. Trump gets to be, go out against absurd Political Correctness and gets funding if. The wall so i loved those tweets. Stuart do you think we will ever get used to the president. Hes such a different president ial character, if i can put it like that . Hes blunt, hes brusque, hes direct and says things that no other president has ever said before, are we going to get used to this, you think . I keep waiting for a moments rest. [laughter] i dont see it coming. Stuart we have all the news that breaks and breaks and breaks some more and its very hard to keep track of it all. Its great for us because its an Exciting Program and we have the stock market rallying at the same time, but my answer is, no, we will not get used to it, whether he not get used to pace of action from this presidency. Do you agree with that . Yes, and also the pace of hysteria and conspiracy theorizing from the media. Stuart i missed that. I have somebody in my ear. Sorry, i said and also we wont get used to the hysteria and conspiracy theorizing from the media. Its both sides. I dont know if you saw the jonathan article this week evaluating the ethics from various Administration Officials including sally yates, he basically gave everybody a failing grade except one person, Jeff Sessions. Stuart hold on a second, im talking about breaking news. Its happening now. Bret baier, fox news just confirming a firing at the white house derrick harvey, top adviser to the president on middle east policies has been fired on the National Security council. More shakeups expected. What do you say . I hope thats the guy who was supporting the transgender policy. [laughter] stuart okay. I dont think he is. I dont know why hes been fired but there are lots of rumblings about Reince Priebus is in trouble and shakeups are coming. You can see it coming . I dont understand this Reince Priebus thing right now. I mean, this really it certainly seems like and i like Anthony Scaramucci, its great to have somebody really smart and articulate doing the talking but it kind of seems like he was gunning for Reince Priebus job, doesnt it, all of the financial disclosures, a matter of the public and do they actually know that it was Reince Priebus leaking . The whole thing seems weird to me. Stuart very hard for us to us in the News Business to keep track for all the stories that are coming out big stories, actually, very hard to keep track of. Thanks for joining us because you help us enormously. We appreciate that ms. Coulter. Facebook, amazon, going strong. Yes, indeed, this is a rally and a lot of money do being made and we will be right back. Nah. Not gonna happen. Thats it. Im calling kohler about their walkin bath. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] mmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. E by koh americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Call to save 500 off bath walls with your walkin bath or visit kohlerwalkinbath. Com for more info. Ltry align probiotic. N your digestive system . For a nonstop, sweet treat goodness, hold on to your tiara kind of day. Get 24 7 digestive support, with align. The 1 doctor recommended probiotic brand. Now in kids chewables. Stuart i believe the big story of the day the stock market, another rally in shouting distance of 22,000 but amazon and facebook are running away with this market. Amazon is 1080, 27 higher. This makes jeff bezos, the founder, the richest person in the world. He is worse than the entire value of goldman sachs, his net worth is approaching value of ukraines economy, he could buy the s p 500 companies combined, staples, h r block and still have money left over. Stuart he unseated bill gates by a generation, worth 91 billion, i am staggered by this. He could buy tesla out right and have 30 billion left over. Net worth went up 1. 5 billion, 24. 5 billion year to date since christmas time. Amazon has been on the move. Stuart you have got to watch amazon at 4 00 this afternoon, watch the foxbusiness network. That is how they released their latest profit report, up 30 a share, walking up to the Earnings Report with a massive rally. Liz whole foods, ftc and all that. Stuart small concern at this point. We are done, time is up. Neil a lot of options at 4 00. Stuart i work for the foxbusiness network. Neil spread the wealth. What is interesting about this, you are a great student of history, when he started us out of this garage selling books 22 years ago a lot of his buddies turned him down to be coinvestors to this is the dumbest idea i ever heard and had the famous youre going to miss something big, that is great, good luck