They . Marty they dont. I dont know that many people went through lesters tax returns and tried to my newly minutely figure out how this affects them. It will have a Significant Impact for certain high income earners. It will have a Significant Impact in terms of more taxes paid rather than less. For the ultra rich from it is a significant tax reduction. But as a percentage of income, it is very small. What really interests me is the unintended consequences. No one really knows. They did not have a lot of public hearings, they do not have a lot of experts telling them that if you do this come this will happen. In some ways a crapshoot how the real world will react to these provisions. Mark polls show us it is not popular. Can the gop turn it around . Mitch mcconnell said that if we cannot sell this to the public, we are in the wrong job. Can they sell it . Marty i think they can come actually. I think Mitch Mcconnell is right. In advance oflls the tax bill are reflective of the general
Down as well. Look on your screen, theres the list. All of them bigtime to the downside. No pullback seriously, though, for stocks flat to slightly lower at the opening bell. We dont know how the market is going to close. It is facing a threeday holiday weekend, but so far that has been no sell on the news of the tax cut deal. Im going call this one a corporate bombshell, eric schmidt is out at google, this is the man who built the company at global phenomena, started google, gmail, google maps and android phones. Google says its time for the transition. Theres speculation that personal relationships were part of this departure. There are a lot of surprises this morning and Varney Company is about to begin. [laughter] stuart that was good producing. Theres no place like home for the holidays. Thats absolutely for sure. You saw them, theres the lawmakers, they are all coming down the steps. Get out of dodge, they follow and get out of dodge, ran downstairs, heading home for the holidays
Good morning. Pres. Trump good morning, everybody. Thank you very much for being here. Merry christmas. Happy new year. Have a great holidays. We are going to sign some very important things today. One is a continuing resolution that very importantly gives us the right and we are ordering 4 billion worth of Missile Defense equipment and missiles themselves. Very important, top of the line. Best in the world. We make the best military product in the world. Nobody is even close. We are ordering 4 billion worth of Missile Defense. And that will be done by signing right here. And also, by notifying the speaker of the house and president of the senate designating the Missile Defense as emergency defense funds. So, it is 4 billion for that and 700 million for various other military forms of equipment. I am honored to be doing that. Our military has been doing a fantastic job in so many ways with isis. Everything they are touching lately has been working out. So, we are signing that. [camera
He will be signing the resolution as well to keep the government funded through january 19th. Those are the two things left on the president s todo list before he heads to his resort at maralago for his christmas vacation. Will the president have parting words for washington, days after the Republican Congress gave him that major win. He could take questions from reporters before he leaves or he might not. Kaitlan collins joins me now from the white house. This is a major victory for the president. And yet, not a huge ceremony for the signing of the bill, certainly not like what we saw after it was passed earlier this week. Yeah, thats right. If it sounds a little loud behind me here at the white house thats because marine one landed on the south lawn. The president is going to be boarding it any minute now before he departs for his holiday vacation in west palm beach. First the tax bill, the president just tweeted a short while ago hes going to be signing it in the oval office. Weve b
And those are the biggest drivers. At best, he is maybe the seventh largest tax cut, maybe even lower than that. Its not the biggest of the last five years even. Exactly. Whenever these charts come out, its like somebodys thrown a porcupine in my bed. Really this is a fight between steve bannon and donald trump over who gets ownership of this movement. We know that the presidency has not changed donald trump. What we dont know yet is whether donald trump has permanently changed the presidency. Well, there you go. Were going to start, of course, at the white house this morning as President Trump prepares to leave for maralago. Just moments ago we cant understate. This is the president s big win. He signed the massive gop tax bill into law along with a 4 billion Missile Defense bill in the oval office. Unlike other signings, the tax bill became law privately without a live event. But that did not stop the president from taking a victory lap earlier today tweeting this, quote, our big and