Benefits of tax cuts of bonuses, higher wages, more hiring in more investment. Its the great corporate pass through. More announcements are likely. Tax cuts showing positive economic results. Democrats are still making some very dubious claims. For example, nancy pelosi says raises taxes on 86 million middleclass families. That is factually wrong. It is dishonest political spin. The left plans a yearlong allout attack like about when you just saw. Investors clearly approve however the tax cuts and what theyll do for economy for wages jobs and investments. Stocks going up this morning. We dont know how the market closes this afternoon, the president and his top economic adviser both talking up the market today. It will open high gear. Later this morning, Congress Holds a tax plan signing ceremony and you will see it. Varney company is about to begin. We will start with this. A white suv plowed into a crowd of pedestrians in melbourne, australia. We want to know who did it and are the authorities calling it terror . It has all the at this point they do not believe it was a terror attack 3322yearold man of afghan descent, understood citizen driving by himself in the white suv. You can see in the video just plow through group of mr. And at the busy intersection. It was packed with christmas shoppers. 14 people injured, suffered critically including a very young boy. Another arrested who were seen filming it all and when they arrested him they found three nights on him, but now they say they do not think he was flanked at all. At this point they are saying there is no known terrorism links. Hes a known drug dealer, nonperson with Mental Health issues. Stuart we got it. Thank you. Weve got the tax bill of course. It passed and the president cheered. Watch this. This is going to Mean Companies coming back and campaign the fact we are not going to does her companies anymore. We are going to bring up these 4 trillion back into this country. Money that was frozen overseas and parts of the rows that dont like us. We havent heard this expression. We are making America Great again. Its always a lot of fun when you win. Those speak with the fiscal time. The democrats keep saying this will not grow the economy. What do you say . The tax increases because in 2025 it expires. In february when the withholding began to change. People will see people will do their takehome pay increase. Wait a minute, democrats have been blind to me. I have less taxes coming out of my paycheck. Also, nothing says winning the cold hard cash. We have at t, comcast, fifth thursday putting 3000 per employee bonuses right now or raising employees to minimum wage. Raising their wage to 15 per hour. These are extraordinary algorithms. Businesses are. They campaign for this. They want this to happen. They will make sure the country knows this is also good for the people of the United States. Stuart does the stock market keep going up badly cut the tax deal in place . Is a very crowded agenda in congress. We have to pass a spending resolution, budgets coming up have to raise the spending limit, et cetera. Its complicated, but we have for Many Industries above the earnings of 10 to 15 at least and we will see that the market respond to that. We will go up this morning. 50 odd points which is precisely 24 minutes away. You got that name . Now wait a minute. Effusive praise for the tax bill and the president from the chairman of the Senate Finance committee are intact. Watch this. I have to say youre living up to everything i thought you would. You are one heck of a leader and this is just the beginning. If you think about it, this president hasnt even been in office for a year. Look at all the things hes been able to get done. By sheer will in many ways. Tragedy went on to say he could be the greatest president ever. The gentleman right there may be rubbing his eyes that he may be in disbelief. The great senator from louisiana, john kennedy. Would you second that effusive praise of the top in some respects for president . Yes, i would. Let me just say this. I told you we were going to cut your taxes than we did it. To all of our democratic friends with the tax cuts, i say, send them to me. Senate Office Building and i will distribute them to the people of louisiana. Stuart did you practice that . You did, sir. And i know what Speaker Pelosi are former Speaker Pelosi is saying. Into her i would say look, you shouldnt be fabian at christmas. This bill is going to cut taxes for just about every american. When you double the standard deduction, when you double the child tax credit, when you lower the marginal rate, people are going to have died and they deserve it because they can spend the money they youre better than government can and are going to see tax cuts and their employees are going to notice it right away because they are going to have more coemployees and has new things Like Software to machinery and equipment, those employees, new and old will be made more productive and their wages will go up there for no other reason but wage pressure. This is a great bill. Ive got to ask you about the grilling that you gave to want gave to one of President Trumps judicial nominees earlier this week. I know you were there for the benefit of our viewers. Roll tape, please. To jury trial . I have not. Trial . No. Bench . No. Of the trial judge, you will have witnesses. Can you tell me what the daubert standard is . Senator kennedy, i dont have that at my disposal. Senator, you destroyed him and his nomination was withdrawn. The media seized on this and that is typical of President Trumps nominees. What is your response to that . It is not typical. The president has sent to us in the senate and we have confirmed some extraordinarily able lawyers and judges. Mr. Peterson, who did withdraw his nomination is a smart man. Hes honest, capable, but is not ready to be a trial judge. President trump called me the day after the year he and he kennedy, im not upset. Im not mad. Your job. I appreciate you doing your job. What he think we have to do . Mr. President , you ought to withdraw mr. Petersons nomination. I dont want to seem embarrassed anymore. The president that i think thats what we ought to do and thats really what happened. My job is to catch any mistakes that might have been made in the bidding process and thats what they did in the president said just keep doing your job. So i yam. Mr. Senator, great pleasure having you on the show. We will see you again real soon. Lets get to your money. Looking good again. We are going to open higher on that market. By the way coming gdp growth came in slightly lower. That was the Third Quarter of the year is 3. 2 annualized growth as opposed to 3. 3 growth. Making a difference on the market will open up about 60 points. The tax bill preserves the thing that carried interest provision. Battle as Hedge Fund Managers to pay a much lower tax rate. They criticize the welfare for the rich. Fox business has learned big private equity giants like blackstone, carlyle, and they need donations to lawmakers who voted for the tax bill. This stinks to high heaven. Im sorry. That carried entry should be gone and its not. I caught the cockroach of tax reduction. When we were all wrong and god, he can be killed apparently. It survives everything. The only change they made was the carried interest will only impact and traced how do these three years instead of one year. That does actually impact Hedge Fund Managers. The private Equity Managers basically are in the same boat they always were. They benefit from it gigantically. This is a huge money issue. Money talks and basically a lot of people in the industry wanted to be continued because its made them very, very wealthy. I think its terrible that matter why. Its not considered if i was in 109 points six. Charlie gasparino great reporting, they gave tripled the political donations to republicans and democrats. Im sorry, but thats the way it seems to me at least. Scary new threat from north korea. Fox is reporting that the reporting that begin testing longrange missiles with anthrax carrying warheads. How can President Trump respond to that . Apple admitting it has been slowing down the software, but they say they are doing it for your benefit. The democrats are apoplectic about the passage of the tax bill, planning a yearlong allout attack against it. Are they on the wrong side of history . We will ask that question. More transcendent after this. More varney after this. Stuart the Washington Post says democrats are preparing a yearlong assault against the tax package. They will use it against republicans in the elections next year. Fox news contributor is with us now. Do you think that works . Lets suppose the economy keeps on growing 3 unemployment way down there and everybodys paychecks to go up starting in february. Does that work to say this is just a terrible thing . First of all, democrats are focused on 23 or 24 seats, particularly those Hillary Clinton won last year. A lot of those are in blue states where taxes will go up on enough people that there will be an argument to make. The other point i would make is that the corporate rate 37, personally 37, corporate rate 21. There is the argument that it favors the rich, corporate interests. You made the case about carried interest you always do far better than i could never do posted on the deficit 1. 5 trillion the question about Economic Growth is based, not winning. Stuart i think youre hanging your case on a movie theater. Some middleclass people in high tax states will pay more. Swing suburban districts precisely people have been moving away from trauma. Stuart also true to say the Corporate Tax rate comes way down and carried interest remains outrageous late coming as it does remain and the other one. Stuart coming from democrats, that will be really, really rich. I worked for bill clinton to balance the budget, cut the debt and deficit. Trying to does a generation ago. Current democrats have to remember it was there a guy with a huge hole in the deficit, not the deficit, but the debt from 10 trillion to 20 trillion. I think its got a firmer foundation, but that proved is when i come back here, hopefully youll have me on november 2018 to crow about the democratic figures. I will give you an argument if you like. Democrats hate donald trump. Donald trump is unpopular. Theyre going to use trump as a weapon against the republicans in the elections next year. The very thin reed. 33 , 34 approved of a Strong Enough you can run a Good Campaign on it. By november next year with the economy growing very nicely, unemployment at record lows, wages rising, dynamism coming back, a whole generation of people realize how good it is when the economy grows. When democrats with the house and Senate Monday the first one on your doorstep collecting the steakhouse of my choice. Im not taking not that. Inside, matching point. Stuart gamble on live television. Friendly wager. Stuart i understand youre leaving for florida saturday afternoon. My question is are you going to come back and pay an arm and leg in taxes . If they have any brains at all and im not sure they do, i will stay in miami and i hope youll have me on. Stuart we shall see. Doug, you are all right. A lot of bad pr for bitcoin. North korean hackers allegedly stole some of them. Number two, Major Exchange accused of insider trading. Three, british guy loses 127 million am not sure its going to get it back. For, if you have a bitcoin wallet, double as your password because if you do utilize. Well wrap it all up after this. The stuart have i got bitcoin news for you. Suspected of involvement of a cyberattack that stole some of them. Coin base cash transactions after accusations of insider trading. Three, the british guy lost 127 million when he lost his hard drive and officials wont let them go to the landfill to get it back. Number four, carolina has recently begun offering help to people trying to record their passwords because they blasted their bitcoin. One last one. The New York Stock Exchange has filed the latest last two bitcoin dts. The crews here. Charles payne. Give us the example of. The company would change its name yesterday we opened for trading yesterday. Yesterday long island or ice tea with the company. This morning the long block Chain Company in right now have 280 , up even more than that at one point, 300 free market. All theyve done is change their name. Im not sure they done anything fundamentally. What this harkens back to his. Com craze. Back in the day when the company became. Com in the stock was up 500 . Thats exactly whats happening. Stuart Long Island Iced Tea with their name yesterday. Now they are going to open out. Get the bling on training block chain. Maybe yesterday. I can tell you earlier this week that it up 2000 . This is why people are very nervous about all of this. The market is about to open in well be up 50, 60 points right there at the opening bell. I will tell you now come the you now, green arrow suddenly up in. Stay right there, please. I used to have more hair. I used to have more color. And. I used to have cancer. I beat it. I did. Not alone. I used to have no idea what the American Cancer Society did. Research . Yeah. But also free rides to chemo and free lodging near hospitals. I used to maybe give a little. Then i got so much back. I used to have cancer. Call 18004944357 today. Your contributions to the American Cancer Society fund valuable research. But thats just the beginning. A cancer diagnosis can kick off years of challenge. And thats where your donation truly shines. You help us fund free rides to treatment. A live 24 7 help line, free lodging near treatment centers. And even efforts to expand access to insurance. So, please donate today at cancer. Org and help attack cancer from every angle. Stuart weve got 35 seconds to go this thursday morning up and running. We are confidently expecting another gain as the opening bell. On the market closes, we dont know. The last couple days ago been very strong and close somewhat weak. 15 seconds ago, the backdrop of courses that the tax cut deal is a done deal. Some big corporations already passing on their savings to their own workers but donna says, wages. Here we go. It is three seconds, two seconds at 9 30 eastern time. We are up and running 46 points, 48 points. We are up 50, 52 points, 53 points. Going through this. 63 points. 65 points. We arrived in a sea of green on the left hand side of our screen. The dow is up a quarter of a percent. Show me the essence p. Please. 2 . Though we arrive. The Nasdaq Technology stocks grew right there and we are point when a percent. I can say this. Acrosstheboard stocks are moving higher. Amongst the Big Technology stocks, only amazon is down. Facebook, microsoft, apple. The financials as in banks or whatever have been going up recently and they are up again this morning the significant gains for jpmorgan chase, morgan danley and wells fargo. Who is with me on this historic day to deliver tax cut in place. Ashley webster, Liz Macdonald and charles payne. Repeating what i said at the top of the hour. Big businesses already passing along the benefits of tax cuts. Well put them up on the screen shortly. All kinds of companies doing this. All the Companies Offering bonuses, higher wages, more higher income et cetera, et cetera. Stuart cutting the minimum wage wage sorry, raise the minimum wage. David dietz, while more Companies Follow suit . Absolutely. This is a huge benefit for corporations and they will share that largess. Great pr is the reflexive that the tax was for the market. It works. Ashley apparently it is fantasyland because thats whats happening. Tuesday night when fedex reported the most telling thing is they would have an extra 5 a share for their pensions. People talk about when im not active i dont have a 401 k . They cut their funding their pensions. Thats for so many people that may not hate your paycheck you may be able to work for. Thats another amazing benefit. Stuart we are up 86 points now expecting such a sharp gain. 24,811. To be the media sales report that the u. S. Statutory corporate rate is higher than italy, higher than france, higher than the u. K. And higher than ireland, higher than spain, higher than germany. Our corporate rate is higher than those companies. Stuart dont ever forget if you lower that rate, you are giving it away to the rich and wealthy nasty corporations. Gary kahn, President Trumps economic guy says these tax cuts are not yet fully priced into the market. President trump has said something somewhat similar. Charles, should the president be talking up the market . Aristocracy over country. It is great to have someone actually talking positive, optimistic and realistic about what we can do is no longer a four letter word. I think its okay. Stuart will it work . Absolutely. Nearly every, could provide a nice boost to the economy the next couple years will obviously add onto earningspershare. I would refer that the white house focus on the fundamentals, let the market speak for itself. Stuart the latest read on the third order Economic Growth with an annualized rate. What is your prediction for growth next year. The will be pushing to 4 gain in tax cut and where we were ending up 2017. Bodes extremely well. Ashley already caterpillar for highs. What does that say about the economy . Stuart fair point. Absolutely. We are right now in the midst of the third consecutive quarter 3 gdp growth. Since 1999. Stuart bed bath and beyond down 12 . They reported that night, and they actually crashed it on sal