Public services that we all pay for and its only fair that he and his billionaire friends chip in to make sure everyone else has a chance to succeed. The fact they reacted so strongly, so angrily to being asked to chip in mark tells you all you need to know. The system is working great for the wealthy and wellconnected and jamie dimond does not want that to change but i will fight to make sure it works for everyone. Heres a question. Will liz warren class warfare rhetoric help her pay off at the polls. Steve, what do you think . Only in the left wing of the democratic party, the left bar left activists will move up in the polls but most americans realize what Abraham Lincoln said you dont help the poor by tearing down the socalled rich. Jamie dimond had the same interceptor as everyone else but created an extraordinary institution that did not need a bailout in 2008 and was forced to do so by the federal government. Others like jeff bezos created Great Companies and what does liz warren created other than a strange background . This is all about appealing to people who have a scarcity mindset. The reason the system works for jamie dimon and those like him is because they believe they can and they believe in the opportunity and take the initiative and get it done. If you have the scarcity mindset that you are a victim you will not get it done. The system that doesnt work, funny enough, is the government in terms of everyone to be in this is rich, no pun intended. The top 1 pay more than half a chilean dollars into the system and thats more than the bottom 90 . Im pretty sure they are paying more than their fair share. Thats one heavyduty chip but there are already throwing look, if you had not put Elizabeth Warren name on the tweet it is remarkably like trump and its intolerance and dismissiveness of anyone who disagrees with carpet in this case, jamie dimon, i dont know if hes declared as being a democrat but certainly more likely to be you know, hes on the same team here but Elizabeth Warren has done what politicians and anyone does who wants to vilify their opponents basically thrown down a marker that says anybody in a position of privilege who disagrees with me is thereby a bastion of privilege and against me. Thats an extremely dangerous quality in any political figure because it basically says she plans to govern, if she has the opportunity with remarkably little willingness to hear input from anyone other than whos in but she wants to hear. Her tweet did not remind me of. [inaudible conversations] her tweet did not remind me of trump but reminded me of barack obama when he said you did not build that and thats the mentality i think of too many people on the left. The people who help build this country whether bill gates or Warren Buffett or whether its any of these lien errors, jamie dimon they bring Great Companies and i think they should be seen as heroes to the economy not villains. To put it in order she said it first that you do not build that and then obama copied her and then she said that was but steve, you also have a kickback from joe biden as to what liz warren is saying. Biden has attacked warren is a quote, my way or the highway elitist, implying shes not only an elitist but shes a hypocrite because she got 12 million of her own. Thats right. Its amazing how they dont want the rules to apply to them and thats why they say billionaires not millionaires anymore and Bernie Sanders has three houses and stuff like that but in terms of Elizabeth Warren her anger and relentless attacking and envy of trying to inspire envy that is the thing that does not appeal to most american voters. Contrast that with Ronald Reagan who knew how to attack, make his points but did so in a way the conveyed optimism, hope for the future instead of anger. We got to crush out everyone else. Exactly. The challenge here is exactly what steve forbes just said, its about envy politics and coming from a place of divisiveness instead of gratitude. Reality is theres no better place to live in all of time and in the world today than in america and people are trying to come here whether its legally to participate in this American Dream so it would be nice to show gratitude and to say you can have this opportunity with success instead of sowing and being in discord. I would come back to and i know you dont want to hear this is playing a similar course to what trump played to his base which is a certain degree of politics of resentment that other people are doing well and that youre not a part of the picture. Shes an equivalent force on the left of the Democrat Party and it may be that the calculus of that is what you are need to go up against trump. David but the point is donald trump is a businessman who knew what makes businesses grow and thats why he cut tax rates and regulations and created this economic boom. No question about that. By the way, its heavily affected the middleclass and a positive way. The conflict of visions here is between one of greed and envy on the left and what hopefully on the right is more one of aspiration for it anyone can make it an america whether someone who came into this country. David, even people with just the shirt on their backs who can become billionaires in this country. As andrew from intel did. We want this to be a country of opportunity, not putting equality over opportunity. David s steve forbes, you have this great forbes rich list comes out every year and you once told me it was most interesting is not how many new people there are but how many people get off the list. There is this social mobility in the United States that todays billionaire could be tomorrows maybe not popper but could be off the list quick. Absolutely. There is a turnover. You go back to the beginning of the list and the first douglas was rockefellers and duponts but no one there is anymore. Do you know how many that is the glory of this economy. You can make it but if you dont serve the people the right way you lose it. Do know how many firsttime millionaires we had last year . 675,000 brandnew millionaires in america but that sounds like a Good Opportunity to be. And they did not do it through politics. David moving on, air b b is dealt by a major blow in voters. Is this a win for the union or consumers . The latest live from jersey city, next. If i was an investor in air b b i would be concerned because its a first time the voters or people had directly made a statement about how they feel about their being in our neighborhood. Fidelity has zero commissions for online u. S. Equity trades and etfs, plus zero minimums to open a brokerage account. With value like this, there are zero reasons to invest anywhere else. Fidelity. In connemara. Right connemara it is theres one gift the whole family can share this holiday season, their story. Give the gift of discovery, with an ancestrydna kit. 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I have it within me to lower my a1c. Ask your doctor about trulicity. It also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness. Put your employees on a path to Financial Wellness with prudential. David a big defeat for air b b. An overwhelming number of jersey city voters backing more regulations on shortterm rentals like those offered up by air b b. Jackie has the latest live from jersey city. Hello, jackie. Reporter good evening to you, david. Residence here in jersey city was spoken. They do not want shortterm rentals or want more restrictions on them. That certainly would include air b b and might take a big chunk out of their visit. This is all ahead of a crucial time for the company who want to go public so its a black eye as youre trying to raise money but lets review what the two sides of this argument are. The residence here are saying there are two problems. Youre taking business away from the hotel and tourism putting them into private homes and residential areas. That can be disruptive especially some of the renters are unruly if you will. Also, you are driving down supply for housing so that is making it more expensive for the residence here. Air b b says hold on, these homeowners have an opportunity to bring in more cash and thats a good thing. Air b b also says this is a lobby by the Hotel Industry because they dont want another disruptor in the playing field. People are comparing air b b to uber and wanted but it comes down to money. New york city is the largest market for air b b and this is in the tristate area. Air b b spent more than 4 million to get its message out there ahead of this vote. The Hotel Industry and the Workers Union spent about 1 million and you put that together and this was a costly vote, the most expensive local referendum in new jersey history and there are some national invocations as well. Does this set a precedent for other big cities in the country . New york city being one of them and will they start to crack down as well . A lot of questions to be answered and its interesting to see how this plays out. The mayor of jersey city was speaking before at a press conference and he said he was proud for sending a message to this Big Corporation that money cannot buy an election but also mentioned the fact that forstmann would be part of the challenge going forward, david. David its international with hundred thousand cities and air b b claim to be 100,000 cities around the globe. Could have invocations elsewhere around the world. Jackie, thank you. Steve moore, did voters make the right choice . Or was it a win for the lobbyist from the Hotel Industry and their unions . No question its a big win for the Hotel Industry. David, im truly torn on this. I certainly think air b b has been a positive thing in terms of allowing people to run rent out their homes and make extra money. I like that about air b b. Its a great Business Model but it is true and i know a lot of examples where people feel like theyre next her neighbor is using their air b b and their living next to a fraternity house. I see both sides of the argume argument. First of all, jersey city is not going to leave air b bs potential ipo on the hook or quaking in their boots. I say that as a longterm manhattanite who has nothing but the usual attitude to new jersey that one does when you live in this part of the world. [laughter] absolutely. Im sure the feeling is ultimately reciprocal. In fact, there are parts of the world like barcelona where the economics have dictated that huge number of residential apartments become overnight transitory hotel rooms. It is problematic not just for the committee before the local economy. Air b b has a huge advantage because as david pointed out whether its 100,000 cities or 10,000 but each of those will be fought locally. They are at an unbelievably strong position, whether you like it or not because of that. I dont like regulation, as you all no, but i think this is an appropriate use of regulation because it protects individual rights and Property Rights. We have a conflict of Property Rights and i own something, Something Else is owned by someone else and you potentially are infringing on my Property Rights to live in a place and not have people traipsing in and out so in this particular case i think when you have the conflict this is the right place for regulation. David while, you have homeowners associations and condo boards that can put in rules about what you can do with the apartment and building. In terms of misuse of it you get neighbors all the time. Its a subject of many comedies of coping with a strange neighbors so that is nothing n new. I think this is trying to suck down and industry that was rising up and gave people choices, affordable choices, in terms of new York City Hotel rates are not a bargain. David you like air b bs . I like the concept of air b b and the competition and giving people choice. David steve moore, jersey city, to your consternation not knowing the side of the offense jersey city was in the same vote. They legalized it and they had 96,000 residents that went out their homes temporarily to folks from air b b. They decided it just did not work so as homeowners they had the right to turn that around. Thats right. I agree with most of what steve forbes just said. I will say this that what you do in a situation we have a covenant in your Apartment Building that says you cant lease the apartment who should be liable then . Air b b the company or the people who took out the rental agreements in the first place . There are legal issues here the need to be unwound. The story will not go away. In terms of a covenant where you violate the covenant thats not air b bs fault but the owners fault and that is spain had gross overbuilding, both commercial and Residential Real Estate and its empty so why not earn money so you may be able to not have a total dead loss. David but the sharing economy and what people said it would be. Another big ballot measure getting very big attention today. Voters in tucson, arizona rejecting the option of becoming an official sanctuary city. Plus, President Trump offering to help mexico wage war against the drug cartel is possible for the murders that American Family there. Former acting ice director, tom holman, is here to sound off on all of that coming next. We stand ready to assist mexico should they ask us to do that but it all underscores just how important it is that we secure our border. Only one things more exciting than than getting a lexus. Giving one. This is unbelievable it really is. The lexus december to rembember sales event lease the 2020 rx 350 all wheel drive for 419 a month for 27 months. Experience amazing at your lexus dealer. Liberty mutual customizes your car insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Rather than worry about how to pay for longterm care. Brighthouse smartcare℠ is a hybrid Life Insurance and longterm care product. It protects your family while providing longterm care coverage, should you need it. So you can explore all the Amazing Things ahead. Talk to your advisor about brighthouse smartcare. Brighthouse financial. Build for whats ahead℠ brighthouse financial. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun we needed somebody to lean on all we need is someone to lean on here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. David the Sanctuary Movement hitting a big roadblock. Photos in tucson, arizona rejected the battle ended Ballot Initiative that would have put it as a official sanctuary city. Placing neurosurgeons on police and their cooperation with ice agents. The measure was supported by a coalition of pro immigration activists but it was opposed by the mayor and the entire city council all of whom are democrats. What does this say about the things were a movement to connect lets bring in former acting ice director, tom holman great, great to see you. Thank you for being here. Looks to me like the Century Movement has really overplayed their hand here in the tucson is an air example of that. I think youre right. The tucson voters are educated voters. They looked at the issue and torn apart that false narrative that sanctuary citys protect immigrant communities. Two quick points, when you dont let ice in the jail to rest the bad guys the bad guys will go reoffend in the same community and when ice cant arrest a bad guy in a jail they got to go to the community will find others with him they werent on their radar. Sanctuary cities but immigrant communities in danger of more arrests in greater crime rate thats the truth. Tucson figured it out. Tucson does not want a century for criminals but want a century for citizens and lawabiding immigrants. Carol ross, does not seem like theres a huge effort and even the Mainstream Media to conflate illegal immigration with those in the country illegally which is offensive to those that did com