Like a threat but whether he meant it or not and whether he thinks that will get congress to pass tax cuts its really immaterial. I dont think theres any resolution or legislation passed this year on tax cuts, so i look back and id say what is the market running on and it seems to me yes earnings are good and trump is doing a pretty good job cutting regulation but it seems to me honestly its running on fumes. You know, people think dagen that the crash for example, in 87 was a oneday thing. It wasnt. It started back in august for crying outloud and that 22 drop we had on black monday was a part of an overall 35 trump. If we start going sideways and start tailing off and then we hear the news about the tax cuts , we could really have a pretty awful market. Dagen well john so far this past week, we didnt see a sideways market we had a new record on friday for all three major market gauges but if we dont get tax cuts does that rock this market . John i think it does because you look at what happened this week the market was up significantly on the tax cut news and by the way the white house dropped the tax reform verbiage and switched to tax cuts so i dont think well get tax reform and i think its impossible. We could get tax cuts and repatriation money. Gary b. Is right about the fact this is the second longest bull market in history and at some point well have a pullback and some point well have a recession and some point well have a bare market. The difference this time and always scar it when you say that the difference this time is the competition. Look bonds are extremely expensive. Theres no yield anywhere else, the best place to put your money is in the u. S. Equity market so because competition is so weak, i think this rally continues right now. Im not sure how far but i think it continues. Dagen emily do we need these tax cuts out of congress because Steve Mnuchin the treasury secretary earlier this year said it would get done by august. Didnt happen, but didnt take the market down. Emily so thats what is key here in i think of course a tax reform fails there would be a correction. The significance of that correction would depend on how it fails because tax reform could fail in a way sort of like healthcare where its not completely off the table. It could be of coursed up next year, it could be done on a later date or fill in a way that means the gop congress isnt capable of really passing any legislation at all and if it fails in that way you could see that correction be more significant because that caps out on the republican partys ability to make any economic progress in this country. Dagen chuck youre a Small Business owner and you know you need you know you want those tax cuts. Chuck youd be right because John Layfield will smart ly tell you i get taxed at an individual rate even though i own a Small Business. Lets take a step back and under barack obama the stock market literally doubled so if you bought a puppy in the last few months and named it donald j. , im not talking to you, you wont be believe but will it double again and can it do that . I think what gary b. Is exactly right. What is it running on . As a Small Businessman i paid 52 taxes last year because i had the best yes, sir i ever had because i got to run a president ial race. Whats that mean next year . If i got a little bit of relief as a Small Businessman, i would hire a few more people. Dagen chuck you just stole tax reform particularly for pass through entities that have a business income in this country is taxed at the individual tax rate so chuck just did a better job jonas of selling tax reform than any republican ive heard so far. Weve brain washed him. Look it could be running on higher aftertax Corporate Income if theres a Corporate Tax cut that would essentiallyly lower valuations in the market just by means of corporations paying less tax. What we dont know is how baked that in is. Is the bill really elf pecking the Corporate Tax cut and then by losing it does it cause a crash . In my book crashes happen when the market goes up too fast. Theres always a reason and the 87 crash was the worst ever in a short period of time happened one of the leading causes was tax, they were talking in the ways and Means Committee about removing tax breaks a distortion from mergers an acquisitions and the whole market globally crashed because just talking about it which gets to the reform issue and we had a bad reform package you could get the market to crash because of action. For example, were removing 401 k and ira contributions deductions could lead to less low pressure going into the market. Were moving overnight the mortgage deduction retroactively and all of a sudden home prices adjust and these are distortions that need to go away. It cant lead to a crash so how reform is done over what timeframe could definitely lead to a crash and if its done wrong again i dont think a smaller acrosstheboard people spending money tax is going to really make a crash but these issues of distortions are big and caused the 87 crash. Dagen gary b. , do you agree with that because there was news out this past week one way to raise revenue in this tax reform would be to dramatically reduce how much people can put into 401 k plans before taxes. Were talking about less than 3000 while that limits it 18 grand right now, that alone could rattle the market so it would be tax reform that still takes the market down. Gary first of all, jonas comes with so many facts you say do i agree with it and he gave an in cyclo media of reasons. Its tough to pick out just one but anything dagen that affects the peoples pocket books directly, even in the anticipation theyre going to have more money and then have it taken away is going to dramatically affect the market but here is the flip side. John said he didnt want to sound naive. Its always different i agree with john 100 but here is the thing even back in 2008 i can remember being on this show and saying theres not a housing bubble. Theres no problem with housing. Six people, the people in the big were the only ones that saw it coming and everyone else never saw it coming. You never see whats coming so whether its tax reform, north korea landing a missile in japan that detonates, some other nut it thing that happens you never see it coming. I feel so many people are giddy about their game so far in the market its inevitable theres a big sell off and tell you what i hope im wrong. Dagen i want to speak up though because i was on cash and end in 2007 talking about housing bubble so i just want to point that out. So seven people. I want to bring up the fact that my wife was one of those people so i have inside info on this entire trade. Dagen but john to this point is the market still betting on tax reform that if we dont get it, it does tank because ill point out that every major developed economy 45 of them are all growing and saying first time thats happened since the financial crisis in 10 years. When President Trump got elected you saw two months of trump bounce and after that you saw corporate earnings taking off. Right now youre starting to see a little bit from the Corporate Tax cut being enacted. You are not going to see tax reform and i think its impossible. Jonas saying can these guys screw it up . Of course they can screw it up. They promised by august we would have it and promised on day one they would repeal and replace obamacare. These guys lied about every single other event and deadline they had. I dont know why anybody believes theyre telling the truth so i do think that with this new budget they can get tax cuts done and my friend chuck is there and this creates 50 of the jobs will be able to hire more people and do more things. Its a true economic boost if you get a Corporate Tax cut fast dagen chuck before we go to break i want you to say it to chuck and nancy give me my tax cuts. Youre trying to literally destroy my business but let me tell you this. Theres a lot of people who didnt make any money overall this time when all of this money and all of this weather has been made by this huge increase no matter if its democrats or republicans. If youre working an the only wealth that you have is your home and you may have a little bit of 401 k those are the exact people who need the help. They cant leave those people behind. Dagen those are the people that President Trump has promised to help. Thanks, guys and gal. Cavuto on business about 20 minutes from now neil what have you got . Neil dagen despite ratings down the nfl is still not making players stand up. Is that going to prove . And the president taking credit for the markets record run but if things go south will he have to own it as well . See you at the bottom of the hour. Dagen neil we cant wait but up here first the Hillary Clinton email probe back in the spotlight newly uncovered documents show fbi director james comey drafted a letter exonerating her before interview ing her. Do we need a special council on that, next. How much money do yu think youll need in retirement . Then we found out how many years that money would last them. How long do you think well keep oooooohhh you stopped youre gonna leave me back here at year 9 . How did this happen . It turned out, a lot of people fell short, of even the average length of retirement. We have to think about not when we expect to live to, but when we could live to. Lets plan for income that lasts all our years in retirement. Prudential. Bring your challenges. You push tempurpedicry day. Helps you recover every night. Only tempur material precisely conforms to your body for up to twice as much pressure relieving power. So youll sleep deeply. And wake up, feeling powerful. Find an exclusive retailer at tempurpedic. Com booking a flight doesnt have to be expensive. Just go to priceline. Its the best place to book a flight a few days before my trip and still save up to 40 . Just tap and go. For the best savings on flights, go to priceline. The news headquarters in washington good saturday morning im saying a final farewell to a fallen hero Funeral Services will be held forearm it sargent ladavid johnson, one of the four americans killed this month and the services will be held in cooper city, florida. Wilson leaves behind a child, two children, a wife and another child arriving in january. And in other news the preliminary damage estimate on the wildfires in california are topping a billion dollars and that figure is expected to go up as crews come through the devastation. The fires killing at least 42 people and destroying more than 8,000 buildings. Some people now returning home for the First Time Since the fires broke out just two weeks ago. Im in washington now back to bulls bears of course for all your headlines log on to fox news. Com. We did not find clear evidence that secretary clinton or her colleagues intended to violate laws governing the handling of classified information, there is evidence that they were extremely careless in their handling of very sensitive highly classified information. We cannot find a case that would support bringing criminal charges on these facts. Dagen that was more than one year ago. Now, there is new evidence former fbi director james comey began drafting a statement clear ing Hillary Clinton months before the investigation was actually over and before he actually questioned her. Some investigators say theres nothing unusual about this but emily you say we need to look into us. Emily yes, there may be nothing unusual about it but we need to know the content of the draft that was being circulated around may. Hillary clinton herself was not actually interviewed until early july, yet we know from what the fbi has released in transcripts and in a document itself that james comey began circulating a draft of a statement that would clear the case that would conclude the case as early as april. That is highly highly worth looking into. He needs to come to congress to testify and explain the content of that draft and why it was being drafted before Hillary Clinton and other key witnesses were even interviewed over the course of the investigation. Dagen john, dont americans deserve to know the truth behind this and Want Congress to get to the bottom of it . John i think americans deserve the truth but i dont think they Want Congress to get to the bottom of it because i dont think justice will be served. What should have been investigated was the collusion between secretary of state and clinton administration. I dont think anything possibly will be done all you do is waste taxpayer money, we have education to inner cities in america just in a shambles, wildfires in california, disaster in puerto rico, theres so many bigger things than dealing with allege ed crooks in d. C. If you arrest all the crooks in d. C. We wouldnt have a congress lets get something done in our country that matters to the American People. Dagen gary b. , why doesnt this matter getting to the bottom of what jim comey said and what was the real truth . Gary look it does matter. I agree with every single thing that emily said but im going to put myself in the shoes of the average american. Their eyes are glazing over. Honestly for everything that john said yes, she probably did illegal things. She probably is a crook, but weve been going over this. Weve been going over the russian investigation. Now, its a clinton and the i rain january deals. Enough already. Weve hashed this out. You know what its going to be. Its congressman and senator on each side showboating for cspan. Its absolutely ridiculous. Should we do it yes . But on the other hand its the politically correct thing to say yes, but on the other hand i think as john sums it up, people are just tired of it. Get out and do the job we elected you to do. Dagen jonas, we have Congress Spending millions of dollars on these russia investigations. We dont even know how much money because they essentially dont want to tell the American People but then, this gets overlooked although trey goudy of the House Oversight committee wants comey back because the timeline doesnt add up with what he said a year ago this past summer, so why should in congress get on the stick with this . Jonas first of all the amount of money it would cost isnt why it shouldnt be done. The reason why is because this seems fishie. To me comey is a standup guy maybe because hes very tall but you got to look through these things through the eyes of the government. They will have a release that someone wont get in trouble. They need to get that cleared probably takes weeks of bureaucracy. This guy is on vacation, its government so its an Election Year. Lets say they will just determine that hillary was not guilty. They got to get that news out immediately and say its a pre clearance so it could be released when the bureaucracy says its time to get off the case. Normal investigation not an Election Year for somebody running for president they would drag that out for months and months and let the world know youre not a criminal so i could see how this would happen in the world of a bureaucracy. Dagen chuck should congress get to the bottom of this . I love the logic tall people are somehow automatically honest. I agree with that too. [laughter] chuck i will say this that i think people are tired of all of this but one thing for sure if the federal government ever came up with a jobs program you may have just given me a new business idea because theres nothing but the prosecutors and investigators is something that we employ a lot of here in washington d. C. When you took all of that time and resource and put it towards trying to make lives better like john is talking about with all of the natural disasters that would be huge but let me make a quick point that comey probably did something stupid and theres something to garys point is it worth going back and doing all of that and one thing is for sure. I dont think anybody would say comey was a hillary fan at what he did right before the election would put out the information he did, not that it might have cost her the election but i was in that election and it did affect it whether it meant to or that. Dagen fair enough thanks guys and emily. Cashing in just over an hour from now lauren what do you guys have coming up . Lauren dagen some things are sacred chief of staff general john kelly blasting a lawmaker ends the press for politicizing a president s private phone call with the widow of a fallen soldier. Did the media go overboard or not plus cities offering big tax incentives to attract amazons new headquarters but does one of the Biggest Companies on the planet really need tax breaks . Cashing in see you at 11 30. Dagen thanks, lauren well be watching but up here will far rell starring in a new role with a serious message unplug and be present. The whole family will want to see this one, next. Statins lower cholesterol, but can also lower your bodys natural coq10. Qunol helps restore this hearthealthy nutrient with 3x better absorption. Qunol has the 1 cardiologist recommended form of coq10 qunol, the better coq10. Dagen put down your phone and pick up that. Will farrells new message for families that someone says here is no joke plus one airline hitting major turbulence that could send shares of another like, like, like, like, like, like, like. Guys, honestly, five more minutes. Dagen will farrell starring in a new psa calling on all families to hang up the phones and enjoy a devicefree dinner. Chuck do you take more selfies than they do . [laughter] chuck you get awful personal when you talk about myself it game. Let me tell you about my two grandfathers, i had papa and grandpa pete. When you think of old leather they taught me how to be a man at the dinner table and if you came i remember if you come here , think aint the place for foolishness but the place to eat and talk and they taught me how to be a man and have great conversations. We need to get back to that. Dagen a men to that. Emily . This is great coming from will would has the best dinner scenes with the amazing fast food buffet so i love that but its absolutely true, right . I used to work with students a lot and i do worry theyre having a hard time mastering the art of conversation having a decent conversation without thinking about whats on their device. Dagen praise the baby jesus for taco bell. Gary b. . Gary well look its hard to disagree with them but here is my takeaway. Stop preaching to us. If its jimmy kimmel, its will ferrell, its government officials, yes youre all, its from the heart and yes its all emotional. Please please stop telling us how to live our lives. If i want a tv dinner, with my tray in front of the tv, thats how im going to live my life. Stop already with the manipulation. Dagen john . John if i go to a fancy restaurant that gary b. Likes i dont need my phone because theyre fun people. Phones are made for boring people. I eat dinners with a lot of boring people and if it wasnt for my phone id have to talk with them. Dagen jonas . This is a huge problem with the Tech Industry dominating our brains it will be 24 7 at some point, were not getting smarter from the super computer in our hands getting dumber, its not learning and its infotainment and it has to stop its a huge problem. Dagen thank you guys i like will ferrell and thanks to emily and chuck for joining us. Both of you all coming up its well known stock that crashed on black monday, 30 years ago, but one of our guys says its ready to make you a whole lot of green right now. I dont want to sound paranoid, but dya think our recent online sales success seems a little. Strange . Na. Ever since we switched to fedex ground business has been great. Theyre affordable and fast. Maybe too affordable and fast. What if. People arent buying these books online, but they are buying them to protect their secrets . . hi bill. If that is your real name. Its william actually. Hmph affordable, fast fedex ground. When you think of saving money, what comes to mind . Your next getaway . Connecting with family and friends . A big night out . Or maybe your everyday shopping. Whatever it is, aarp member advantages can help save you time and money along the way. So when you get there, you can enjoy it all the more. For less. Surround yourself with savings at aarpadvantages. Com i enjoy the fresher things in life. O. 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. Dagen predictions, gary b. . United airlines is really struggling lately you month who that benefits . Southwest love up 20 in the year. Dagen jonas . Its getting too rich for airline without a first class section. Dagen john your prediction . Verizon had a good Earnings Report its up 20 in the year. Dagen gary b. , you dialing this one up . Biggest bull market in quite a while and verizon is down for 2017 i think it can shop elsewhere. Dagen jonas, your prediction just a few weeks before the crash of 1987 Charles Schwab went public and its still a good deal up 10 in a year because it does well even though it goes up and down with the market. Dagen john your translation . John i have no idea what he said. You werent even born in 1987 what do you know about charles s chwab . Dagen very true. Neil now. Neil well ahead of tomorrows big games will no decision from the nfl be the worst decision overall . Im neil cavuto. Nfl commissioner Roger Goodell wants players to stand for the National Anthem but he wont penalize them if they do not. Charles payne says thats not only the wrong play, it is going to be a very costly one. Also here with us, kennedy, ben stein, adam had, charlie gaspari no is off this week and we dont know when he will be back. Charles what do you think . Ben wait a minute we dont know when hes going to be back . Neil well i know but i dont want to share with you. Youre on a need to know basis, ben. I miss