Transcripts For FBC Cavuto Coast To Coast 20170727

Look at him now. Stuart a couple bucks invested in that company, a couple million now. Neil all the people who turned him down and looked the other way. Stuart i didnt a. Neil the worlds richest human being is rich bezos. The richest man in the world. Back and forth the last two decades, the league has been dominated by bill gates, for a while Warren Buffett, International Market here in mexico, the broadcasting and Media Business but by and large it has been bill gates owning that title and given the 80 million amazon shares jeff bezos owns and given the soaring value of that stock you put pen to paper and come up on paper at least with jeff bezos worth more for the time being then bill gates. Connell mcshane on that. Horseracewise their two big components to this. Amazon has been on this amazing run, the stock, the company, bill gates likes to give his money away. The amazon part is the most important part and jeff bezos has beefed up since old videos of him in 1994, he is 53 years old and presides over an empire, a giant empire amazon is into everything thanks to amazon prime service, groceries, you name it they are in it, stock is on fire and if we look at a chartwise, the gain yeartodate almost 1100, that is 40 for the year so jeff bezos was just under 91 billion in net worth. He is ahead of gates. And he has other business interests these days, Aerospace Company named blue origin, and the Washington Post newspaper as well. Gates is number 2 on the forbes list, he has given a decent amount of money as part of this giving pledge that he has been involved with Warren Buffett and others. Through the end of last year forbes said the numbers in terms of donations to charity in the course of his lifetime 30 billion, plus giving away, that gives you perspective but great run for jeff bezos, terrific run for amazon, this comes ahead of the earnings report. The stock on a tear could put some more daylight between jeff bezos and bill gates. Neil it affect Warren Buffett because he has been peeling off a lot of his fortune to give to the bill and Melinda Gates foundation. He has given 100 million to charity which is nothing compared to these other guys so he joins that at some point but it is part of the story. Amazon has been on fire. Neil he is actively involved in his business, active runner of that enterprise. Time to batten that number up. Earnings after the bell today, a stock that has been on fire, building on wealth, thanks to the stock appreciation, bezoss growth has grown by 40 billion in less then a year and a half, year and three quarters though a lot of that has been following the steady advance of the stock. A lot of these guys wealth is tied up in the stock and he is one of the countrys largest land owners, 300,000 acres second only to ted turner, the cnn founder but his wealth is centered in what got him to the dance, that company, amazon. Forbes how long we will see this tech run. Want to begin, some of the big leaders of his hightech parade, microsoft, facebook, apple and google, whatever the correct term is, they are all American Companies and Bashing American stability and all of that, it is quite a testament right there. Alan first, i apologize. The Great American story of capitalism definitely. You can see tech stocks leading away, a group of hundred top tech stocks, that has driven the market up 25 yeartodate and as you talked about the big boys have done very well, their profits are amazing. Get to amazon people thought it was expensive at 300 a share a few years ago. It has gone up 1200 and the p e ratio is 200. It is important to note just because something is at a high level doesnt mean it cant go higher and people didnt want to buy it because they dont like metrics have missed an amazing opportunity. Neil you never know about that deal, you get in or out of a stock that has an appreciable run up or carry your holdings a little bit. For those who didnt do that with amazon they have been richly rewarded but it has been a straight tear here, what does that tell you . Im not wearing it. Jeff bezos had a phenomenal run, doubled in the past year, not the only one, Mark Zuckerberg keys at number 5 today, another stock that has been on fire. When you look at where american jobs are coming from, american wealth, the Tech Companies have driven up this market and helped boost this economy. How long it will go, everyone has been betting that as long as i have been tracking wealth. No one think it will go as high as it was and here we are today with jeff bezos over 91 billion. Neil the fact that it is concentrated in tech guys, we have points where others interceded, interlopers in and out of that survey but by and large tech dominated. Do you see that continuing whether it is the richest human being on earth or among them that they will almost assuredly be in technology . The interesting thing about tracking wealth is you can see economic trendss. I would bet on tech for the foreseeable future. When we first started tracking fortunes around the world it was japanese real estate. Things change. And another 5 or 10 years maybe we will tell a different story but i would not bet against amazon or facebook or those companies. Neil usually when things are getting good for a Company Along comes uncle sam, the European Unions latest case going after google alphabet. Amazon has been aggressive getting an almost everyones business, that usually gets the attention of regulators. Would be Something Like that that would change the beast . Im the optimist, glass half empty halffull here so looking at the big picture, and unknown could throw it off track a little bit, stock is worth what someone is willing to pay and we are forgetting apple as one of the components we left out of this equation. Apple has been returned to its highs so i am looking for some upside in apple, they have earnings august 1st and as an options guy im looking at the amazon numbers here in the markets are pricing in a 41 2 move, not saying which direction but that is a good predictor of the movement we saw in facebook last night predicting a 6 move moving 6 higher. The path of least resistance is still a lot higher and i am looking for innovation and technology to lead the way. Look at the dollars. They had a buyin of 2. 7 billion but still made 3 billion profit after the 5 so they will get through these walls of resistance. Neil money underneath the couch cushions. I think you both, sorry for the confusion at the outset. To put this in perspective because the stocks have been soaring of late facebook as moved over half 1 trillion in value assets joining an elite club that includes google and microsoft and apple, that is among the highest Market Companies on the planet. I said countries, gdp rivals them. Growing talk of sticking it to the rich, some of these ceos, white house advisor steve bannon looking at a top rate of 44 . Former Trump Transition Team members, what do you make of that . I hope my buddy hasnt followed and bumped his head. That is a crazy notion and he ought to look at the hippocratic oath, first, do no harm. We need to get Capital Infusion in our economy, take the capital rate down 15 but donald trump has promised he will make life better for middleclass families in this country and i think he gets that by doubling the exemption rate. Capital follows the path of least resistance and greatest opportunity. Raising the top marginal rate of 44 would fly against. Neil you are smarter than i am at this stuff but you dont throw Something Like that out there without a reason. I would hope he wants to fire up the base of the middle class and those it plays to a foolhardy notion, for the last 21 years i have been holding this book and talking to groups across the nation. I was part of the camp commission, jack and i edited this, the irs versus the people, we call for a simple flat tax but more importantly we basically said we had to get control not only of the Administrative State but a growing welfare state that impinged upon individual liberty and neil a discussion of the top rate would go against that. There might be a method to this. Hear me out on this. It would be a way to counter criticism from the left that republicans are in the pocket of the rich and say we will pay for this by flapping attacks tax on the 5 million and over, that will get you 18 billion when all is said and done, barely a few months of medicare spending. I exaggerate to make the point that it doesnt get you that far but they could use that as cover to win democrats toward a tax package or down the road, and infrastructure campaign. If it is a political talking point, political gadfly, that is one thing but that is dangerous because we would send the wrong signal to the market. What we are talking about is fueling our economy with repatriating the 2 trillion sitting on the fence offshore. We are talking about gearing up Small Businesses and as a consequence we focus on the middle class and make the democrats argue against doubling the exemption rate. Make them argue against Economic Growth and job creation by arguing against lowering and making more competitive our Corporate Tax rate. I dont think we have to throw out crazy notion like top marginal rate of 44 to engage democrats in a fair and honest debate. We need real tax cuts and real relief in the middle class. And the top marginal rate down to 15 . Growing the economy. Got a lot of that coming back. And and the 5 million. I am the resident nerd. It doesnt start or end there. We have had a dozen states. They go beyond millionaires beyond millionaires. What is happening now, we start with you bring it down and more money all the way down. That is the thing to worry about. The administration is sending a signal to those in that building on the capital were unprepared for. A little more after this. Introducing new parodontax. The toothpaste that helps prevent bleeding gums. If you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. Help stop the journey of gum disease. Try new parodontax toothpaste. Neil Bernie Sanders on the floor of the senate. They are going to go through all the things they dont like and others they do like about the healthcare rework that is being kicked back and forth. It is looking like a skinny repeal, really barebones. Adam shapiro on what that could look like. That would be a slimmeddown version of the repeal that failed yesterday. There were senators who in 2015 had voted for an outright repeal of obamacare but they were insisting on a replacement and since it didnt exist they voted against the repeal. Lamar alexander, Shelley Capito dean heller, john mccain, Lisa Murkowski and rob portman. The president took murkowski to task because he had disagreed with her. She voted on bringing this up for debate. Where we go from here is what everyone is asking and here is what john mccain had to say about it. This is likely to be a long night, part of a long process that has taken hard work from a lot of dedicated colleagues already. One phase of that process will end when the senate concludes voting this week but it will not signal the end of our work, not yet. That was Mitch Mcconnell from kentucky, not john mccain but heres what he is talking about with skinny repeal. It would be a repeal of the mandate for individual and employers to buy insurance and it would defund planned parenthood. Vice president mike pence has quite a bit to say about this. Heres what he told us earlier. The president and i believe the senate will do the right thing, begin to dismantle the failed policy of obamacare in coming days. Donald trump will sign into law. When all is said and done a bill that puts the country on path to better more affordable healthcare. Reporter we are looking at several debates taking place in the senate. The time clock on debate runs out and we move into high gear for the votearama. This will last all my with a skinny repeal, that amendment coming up and a vote on that can come anytime, sometime much later than today, possibly as early as the we hours of the a. M. Tomorrow morning. Neil assuming that is the cycle of eventss, it plays out beautifully, the house takes this up during conference with each other and they hammer out and accord. This fellow is kneedeep in this during Republican Congress, doug collins, good to have you back. How would that work . I heard from your colleagues in the house who are not keen on what they are hearing out of the senate on a skinny package or whatever they want to call it. It isnt flying with them. They are diametrically opposed and it could be quite a conference session. If that is what the senate is going to do, send it to conference, they pick the strategy to get it there. This is something we have dealt with before. We have talked about this before, we have got to take this as a whole package. Medicaid expansion issued around that, the taxes, the mandate, part of this disaster called obamacare. Do not deal with a big part of what we have done in the house and deal with exchanges for the medicaid expansion. Really setting us up for a conference, you have the house bill, if you dont like how the work it in ways to improve it or change it but at the end of the day we have seen the work of the house, now the senate comes to us in conference and i would like to say the folks voting against the repeal, i respect their right but my question is if you have 200 increases in premium increases you have these things going on all over the country, and didnt have a replacement then, we need to go back and say this is about the whole American People and that is our hope in the house and we need to get this done. The president is asking, working for it and we need to do that. Neil this is the best we can do, we have members like lisa makowski, no means no, respect their differences, we are between a rock and a hard place, the best we can do, carve something down the road without friend like you. It would be more than carving something out, it would have to be something entirely different. It looks like it would be something very very different than the senate just did and very different from what you guys just did. May be different, structuralwise you know what has to be dealt with here. That is the issue i am trying to take out to our membership and senate membership, got to deal with the tax issue and mandate and medicaid expansion. If you are going to make a difference in turning this trajectory around on health care in this country, i do chores at night, i speak to groups and tell him this. When i get my voting card out i have yes, no and present. Those are my only choices was if i had perfect i would go perfect every time. I encourage my Senate Colleagues and house colleagues if we dont have a perfect button we got to move this forward to get it better because right now obamacare is in a death spiral, you cant fix what is that badly broken into say we are going to stop and put a little bit and knowing a conference we ask for more to the table what is best for the American People, that is always what we got to have. Neil if you will indulge me, the talk raised by steve bannon, chief strategist of the white house, surtax on the very rich, 5 million a year, hiked to 34 . I look at those discussions as trial balloons, they mean to go lower than the 5 million because you get 18 billion or so out of that. This is telegraphing the white house stands, someone has to pay more so they can sell this to the American People and may be reluctant moderates and democrats, what do you think . I think this is the trial balloon, dont open doesnt go i too i because we have been fundamentally looked at tax reform is something we can work on on every level. You got to understand the interaction between the middleclass and working and as you said we have seen it happen, you dont tax, quote, millionaires but it goes as far as in some cases and some of these down to 300,000. We got to redo the entire system, bring down individual rates, the corporate rates, fundamental closing of loopholes to get us back to a tax system that works and puts capital back in use and playing one of the other, something we tried for almost 30 years. When we begin tax reform, a lot of ideas. Lets go with things that work for we know will work. A comprehend of tax reform. It includes the cut, the reform makes it simple for the American People and the world looks at our economy, the best in the world and a tax system to go with it. Neil you are a very smart guy, you get tors. I would like to be on that tour. The last guy i had didnt know we were in the capital. Very good having you again. I hope you have a safe weekend. Come to washington and we will do that tour. The Washington Post is saying donald trump is floating the possibility, the possibility of a recess appointment if he were to fire or force Jeff Sessions to resign. Almost every republican i talked to on this show has told you that would be very very dangerous. One likened it to her earlier grenade in a theater except the president , if we are to take this rumored to be fact, that is a leap, this is closer to reality than you think. After this. Were on to you, diabetes. Times up, insufficient prenatal care. And administrative paperwork. Your days of drowning people are numbered. Same goes for you, budget overruns. And rising costs, wipe that smile off your face. Were coming for you, too. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. Is not just something you can see or touch. Home. Is a feeling. Its the place where you feel safe to have those little moments that mean everything. At adt, we believe that feeling should always be there. Whether its at your house, or your business, we help keep you safe. So you can have those moments that make you feel at home. You are loved wherever you are. The president s a fighter, he wants people are going to fight back neil i know, but hes fighting with his attorney general in a very ugly, public way. Why doesnt he just fire the guy . He says i want people to fight against this false narrative that the democrats put neil but hes i humiliating the guy. Well, hes letting him know that hes not happy, and theres things im sure hes happy with too. Neil all right. So the rnc chair, Ronna Romney Mcdaniel and i somewhat differing over how President Trumps been treating Jeff Sessions in the press. Just get rid of him, more gods sake. A number of republicans have been telling me on very show that that that would be an even bigger mistake and compound what has been an attention diverter, to put it mildly, in the capital. To south Dakota Republican senator mike rounds. Senator rounds, good to have you. Thank you. Appreciate the opportunity to visit. Neil what do you think of that talk . Again, its only talk, i should stress that, a Washington Post story that the administration is so fed up the president , more to the point, sir with Jeff Sessions that hes going to get rid of him or force him to resign and then have a recess appointment. Well, its up to the president whether or not he wants to continue the employment of Jeff Sessions. We hope he does, because we think he made a good choice in the first place. The appointment would not happen because we have pro forma sessions going on during this time. We will not technically be in recess during the time in which were doing instate work. So i dont think that youre going to have a recess appointment because were not going to be in recess. Well be coming back every third day, basically, to open and close the session. And thats because the dems would never allow us to go into recess unless we had agreed to that in advance. Neil so that actually might be a good thing to do, because it could avoid this temptation which i think, to your point, would be problematic, to put it mildly. The other argument against doing so is that it could invite and im making this stretch here, no one else a constitutional crisis, right . I mean, a recess appointment and then the possibility that that recess appointee, you know, gets rid of mueller, youre talking something that could cascade into at least a sideshow, right . Well, a sideshow, perhaps, but not really feasible because, as i say, well be doing pro forma legislative sessions during this time neil so even im sorry, to be clear though, senator, even in the two weeks after the first half of august, youll continue that . Thats right. Neil okay. Weve already got a schedule where individual members will be coming back in to open and close session, otherwise dems would never allow us to even do the two week recess time period. Neil how do you feel about the way Jeff Sessions has been treated . I continue to say this president has a knack for making good appointments, and he made a very good appointment with Jeff Sessions. Jeff is doing the right thing. I dont think he really realized that he would end up recusing himself with regard to the russian investigation. He understands and he respects the law. Hes the guy you want in as attorney general. He will treat everybody fairly. And and even if he doesnt like a law, hes going to follow it because thats his belief. And so heres a man that believes in the rule of haw, and we need more of those within the Justice Department. Neil all right. Well watch what happens. Senator mike rounds, thank you very, very much. You bet. Neil all right, it was a huge jobs announcement, it certainly was a surprising one, just the staggering figures behind a key apple supplier opening up a plant in the us of a, and yet the media was focusing on white house turmoil that the white house created. And even tweeted about. After this. Ome 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. 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Plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. Remember, medicare doesnt cover everything. The rest is up to you. Call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. Go long™. Neil all right. Rolling sewn cover that suggests justin trudeau, why cant he just be our president . Well, there are a couple of reasons. He wasnt born in the country. Those details aside, he is young, hip, cool, a very fawning interview. The media loves him, thats fine. But the fact of the matter is this is kind of par for the course. Weve been seeing a lot of media, they dont flip over donald trump, as you know on this show, no apologies for donald trump, we say the good and bad, all of that. But, lately given the fixation that the white house kind of feeds, it does get in its own way. If you look at stocks that are at record highs, look at the Consumer Confidence at nearly a two decade high and, of course, this big announcement yesterday about foxcon, a big apple supplier, maybe theyre going to start making iphones here in the us of a, maybe in wisconsin. Unthinkable a little more than seven or eight months ago. All right, rich, my only point on this is its very, very clear how the media feels on this. I mean, the disproportionate negative stories, sometimes the white house asks for it by getting off message, but this is over the top. I mean, they are running now about 95 negative. Ive covered this guy for a while, and i would say its not 95 negative. It might not be a majority positive, but its not 95 negative. Whats going on here . Rich. Well, i mean, look, theyre not interested in all things trump, theyre interested in the things about trump that that fit their agenda. We look at last nights evening newscast, we had 16 minutes on things the media regard as big controversies; the sessions tweet, the ban on transgender people in the military. Sixteen minutes of that. 40 seconds on foxcon. Now, that was a white house event. He had the Vice President , speaker of the house, governor of wisconsin, chairman of foxcon, its bringing thousands of jobs to the United States, huge investment. This is what the media say how they want the president to act, doing these big, important, positive things. It was a positive story, but they didnt give them equal weight. You know, i would cover all the controversies. I think that is news neil right. But if you dont cover this stuff alongside of it, then you have a very skewed news agenda at the end of the day. Neil lauren, what do you think . Neil, going back to your point about foxcon, this, by all intelligents and purposes, has been a great week for the people who elected donald trump to the white house. The foxcon news is outstanding, and we are moving closer to reforming our health care system. You know, the senate, it looks like theyre going to be voting on the skinny repeal bill here either late night or early tomorrow morning, and these are two of the major priorities that voters talked about when they went to the polls last year, reforming our health care system, bringing jobs back to the United States and making changes to our tax code so that, you know, employers can grow and create jobs right here. So i do think its unfortunate that those two stories in particular are not leading the news this week. They should be. Neil no, i agree with you theres a lot of good out there, but ill go back to a premise i first raised with rich, and i definitely want your thoughts on it, lauren. But, rich, to you on how the president steps on that message. He was the one and has been the one dragging this Jeff Sessions thing out. There might be a method to the madness that i dont understand. Im not the sharpest tool in the shed, so maybe im missing something. But i dont see the value in how it looks in doing that to a guy who was a loyal friend and one of your earliest supporters. By the way, every legal mind i know including all these republican senators say he was perfectly within his right, in his legal right, legal demand to recuse himself on this russia thing. Having said that, he should have and i think, this is my opinion he should have just asked the guy if he doesnt like him, go, its not working out. But do so quietly, allow him to resign with dignity or whatever. You dont like him, fine. But this is fill killing him this is killing him. What do you think . No, i mean, i agree. What is the strategic benefit to the Trump Administration by having the Jeff Sessions story out there day after day neil right, right. I cant see the benefit of it. You know, what they should be doing with their communications that includes the president s twitter feed is trying to feed their story of the day, feed what they want the media to cover. I i mean, maybe the president does want the media to be covering this sessions story. I cant figure out why he would. He also tweeted about the foxconn deal neil youre absolutely right. But he should figure out what his message is and then, you know, give put things out there that get the media to focus on that. Neil and i know he feels very strongly about it, lauren, i understand his rage. I guess when his son was sort of scooped into this, that was the final straw. So i understand that. But Ronald Reagan famously said never let em see you sweat, dont let em know theyre getting on your nerves. And he had a temper. Maybe not as much as another cool president to the public, john kennedy, but he had a temper too. But he exercised that a little bit differently. All of thises has worked for donald trump. Hes gotten to be president of the United States, all of those character issues notwithstanding and because of them, i suspect. Right. Neil but i just think its different now and i could cool it. What do you think . I do agree with that. I saw Kellyanne Conway on Fox Business Network earlier today, and what she talked about was that it was the medias job to cover the stories that, you know, are happening. And while i agree with her to a certain extent, its also the job of the White House Communications team and of the president himself to stay on message. You know, whats happening out there right now is what we call unforced errors. Theres no need to be talking about anything other than what the president neil youre exactly right. What theyre hoping to the accomplish. I just hope they can be a little more focused moving forward. Neil im old enough to remember Ronald Reagan, when anything unpleasant came up, he couldnt hear. Remember when Sam Donaldson what . [laughter] and he wouldnt address it. That was the way to do it. Youre trying to stay on message. Guys, thank you both very, very much. Thank you. Neil meanwhile, house conservatives are tired of this whole dustup over Jeff Sessions, but they have another novel idea. How about investigating james comey and loretta lin are. How about that . Now all of a sudden that is something that doesnt get nearly as much attention, but does it risk distracting from an agenda even more . No matter who does it . After this. Liberty mutual stood with me when this guy got a flat tire finish yeah, my dad says our insurance doesnt have that. What . you can leave worry behind when liberty stands with you™. Liberty mutual insurance. 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. The Clinton Campaign at time was using all kinds of euphemisms, security review, matters, things like that for what was going on. We were getting to a place where the attorney general and i were both going to have to testify and talk publicly about it, and i wanted to know was she going to authorize us to confirm we had an information. She said, yes, but dont call it that, call it a matter. And i said, why would i do that . And she said, just call it a matter. Neil all right. That was the other bombshell last time james comey was up on capitol hill, if you think about it. Much more attention paid to what he had said and later thought of the president of the United States, donald trump. But its been sticking in a lot of republicans craw, particularly conservative ones, republicans who at least want to probe into all of that. Ohio Republican Congressman jim jordan is leading that charge, of course, a key member of the house i judiciary committee. Congressman, good to see you. Where is this going, this investigation, it it ever amounts . We requested documents yesterday in the judiciary committee, and we filed a resolution calling for a special counsel. He asked the right question, why would i do that . Ask yourself why would the attorney general instruct the fbi director to call an investigation a matter . After all, hes not the director of the federal bureau of matters, and he complied with it. He did it willingly, knowingly, intentionally misled the American People. Why would he do that . Because they were trying to help clinton win the election. This is last summer in the middle of the election. So we hear all this talk about the russian influence in the election. How about the american justice the Obama Administration Justice Department influencing an election . Thats, thats an important subject. You cant have the Justice Department misleading the American People, telling American Public something that is not accurate. But they did it, and we want to get to the bottom of it. Neil all right, we do know that Hillary Clinton is planning a book that will be out soon, what happened where she outlines a lot of this comey stuff back and forth be, still convinced that that tipped the election, that he tipped the election against her. What do you think of that . What happened is she got beat, and she got beat in spite of the Justice Department doing everything they could the help her. You ever when have you ever seen the husband meet with the attorney general three days before the subject is scheduled to be interview by the fbi . Folks i represent dont get that kind of treatment neil i think what shes referring to, as you know, congressman, is when he first dialed it back, said there was no criminality there im paraphrasing here yeah. No, i know. Neil and then didnt pursue it to the Justice Department, but then came back only days prior to say, well, maybe not. So that that complicated things. What do you think . And when all that happened, neil, i criticized both decisions. I criticized him in july, and i took some heat from republicans, i criticized him again in october when he injected himself in this. But if you look at the pattern throughout the investigation, they were trying to favor secretary clinton. Look at the immunity deal cheryl mills got, for goodness sake. I mean, you just can go up and down the line. What were saying is lets investigate it all. Lets get the truth for the American People, this idea that theres a double standard now drives American People crazy. Its supposed to be equal treatment under the law. Not suppose to be a standard for you and i and a different standard if your name is comey, clinton or lynch. Thats not how its supposed to work, so thats what were trying to get to the bottom of. Neil some could look cynically at what youre doing here and say hes just trying to counter any investigation that might go on to trump confidants to sort of cancel it out. What do you think . There are five investigations on capitol hill. Theres a special counsel, i think theyre going to investigate that issue. What were saying is when i talk to the good families in the Fourth District of ohio, they say why isnt anyone being held accountable . James comey misled the American People. He told us something that was not true. He did it at the direction of the United States attorney general. Just stop and think about that. The United States attorney general in the midst of a president ial election tells the fbi director go lie to the American People. That took place. And were not going to hold were not going to have hearings, were not going to have a special counsel . Thats what i hear from constituents i get the privilege of representing. Neil if i could switch gears on this health stuff, it looks like a skinny, kind of lame version of what you guys came up with is going to get passed in the senate. Yeah. Neil very, very weak, but diametrically opposed to what you guys came up with. I dont see this going well, these conference hearings, do you . Im look, you know, were americans, so im always optimistic. Im hopeful were going to get to a good position, some bill that gets rid of most of obamacare. Im honest with the voters, even what we passed in the house didnt repeal all of obamacare. So im hopeful well get to some positive place and actually do what we told the voters we were going to do. Well just have to wait and see what comes out of the senate. Neil all right. Congressman, always a pleasure. Thank you very, very much. Thank you. Neil we have the oncamera briefing in the next hour. Well be taking that to to you, so a lot of these issues will come up including the possible tax hike on the very wealthy. Remember, it would start with the very wealthy, but again, my experience as ive told you when they launch these trial balloons, its meant to get your attention and have you think, oh, its only for a certain, select few. It is never for a certain, select few n. My state of new jersey, they once had a millionaires tax, it went done to 300,000. Now, im thinking to myself, 300,000, youre not a millionaire. Wait a minute. Welcome to politics. Well have more after this. One laugh, and hello sensitive bladder. Ring a bell . Then you have to try always discreet. I didnt think protection this thin could work. But the super absorbent core turns liquid to gel. For incredible protection. Snap so its out of sight. And out of mind. Always discreet. For bladder leaks. Ive discovered incredible bladder leak underwear that hugs every curve. Cant tell im wearing it, can you . Always discreet underwear. For bladder leaks. The. So to breathe better, i go with anoro. Go your own way copd tries to say, go this way. I say, ill go my own way with anoro. Go your own way oncedaily anoro contains two medicines called bronchodilators, that Work Together to significantly improve lung function all day and all night. Anoro is not for asthma. It contains a type of medicine that increases risk of death in people with asthma. The risk is unknown in copd. Anoro wont replace rescue inhalers for sudden symptoms and should not be used more than once a day. Tell your doctor if you have a heart condition, high blood pressure, glaucoma, prostate, bladder, or urinary problems. These may worsen with anoro. Call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. Ask your doctor about anoro. Go your own way get your first prescription free at anoro. Com. Neil all right. For the time being, jeff bezos, thanks for the runup in the stock is now the worlds richest man. He eclipsed bill gates. Now, keep in mind bill gates as Connell Mcshane has been reporting, giving a lot of the money away and a lot of it is tied up in stocks is the best way we can look at it. But right now given that runup, jeff bezos is now the richest guy. Now, obviously bill gates has not always had this top position. Its back and forth gone to the likes of carlos of mexico and Warren Buffett. But the fact of the matter most of those years, it has been bill gates world and now its jeff bezos. If you think of a halftrilliondollar Company Called amazon where the sky seems to be the limit, he could get considerably wealthier than that. Well take a look at the numbers here. Nicole petallides will be watching them closely from her perch in the new york stock exchange. Here to break down all the numbers. Nicole. Im loving earnings season and loving the way the tech stocks are moving here for this who are bullish on the market. Weve seen market highs and jeff bezos moved into that number one spot. Over the last year, he has gained about 25 billion in his wealth. And one day alone, he can gain over a billion like he did today. So now moves out bill gates from that top spot and bezos, who started selling books in his garage 22 years ago is now the first man to bump gates from the perch in seven years. You mention buffett and zuckerberg, this are some of the other bigwigs. I will say one of the traders brought to my attention that the nasdaq features of amazon were sold hoff a short time ago. I wonder if that may be a precursor to the after the bell earnings. So watch all of that. And as we talk about amazon after the bell here, we do have a record, but well watch for this numbers right on the closing bell. And then theres facebook. Facebook sores to a record alltime high as well. Its up over 42 this year, but it did come out with its numbers late in the day yesterday after the bell. Its up about 3 right now. But its the video thats been driving it, and people are loving the ads for the mobile revenue. And theyre putting those ads on everything, neil. Not only just the news feed but on instagram, on their messenger that the analysts are pushing some of the price target up to 225 bucks. Neil it is wild. Youre right about amazon. Something happened. This stock was north of 30 bucks and now down about a buck. Apparently a futures trade over on the nasdaq at amazon. Thats what one of the traders told me. I didnt confirm it myself, but that makes some sense. Off the earlier highs of the day. Neil absolutely. Back and forth here. Well keep a close eye on it here but something is for that drop back. But, again, dont cry, amazon shareholders. This stock has been on a pace. The white house, the republicans are now set to unveil a consensus measure. Not on health care. Im talking about taxes and all of this at a time when weve got these reports that steve bannon over at the white house chief strategist, i think hes chief strategist; right . Senior adviser. Neil senior adviser. Okay. Now our senior pain of the neck here charlie gasparino. One of the things theyre kicking about, my friend is you know a tax on 5 million and over crowd of 44 . And im wondering if that is indeed a problem and a number of conservatives were coiled about it. Whats going on . Well, listen, bannon plays to the trump base, which is not the upper income. Would like to have a tax plan that is very heavily weighted towards middle class tax cuts. Even though most of the taxes if you look at who pays the taxes, its not the lower end or the middle end. Neil and this tax would raise 18 billion tops. But thats not even a couple of days. Im joking to make the point that its not going to get the revenue. Right. But this is all political for bannon. Ban on onis, like, play to the base, play to the base. Neil so the base would like to stick it to the rich. Well,. Neil lets say theres no follow through. Where is this going . I think neil the whole thing. I think listen, tomorrow is the unveiling it of it to start getting it going. You wouldnt know, given all the sort of stuff thats going on and other networks and weird phone calls from senior advisers to into cable news programs that we have pretty monumental things. Number one is health care, which looks like its installed. Number two to cut taxes, so we can get the Economic Growth out of 3 , so at least we can start paying the deficit. Tomorrow, were likely to see the unveiling at the beginning of that tax cut push. Youre going to see whats known as the big six. Paul ryan, congressional leaders, gary cohn, Steve Mnuchin try to unveil the effort about what they want to accomplish. We dont believe we do get much detail on consensus here because heres why. White house is now starting out with a Corporate Tax rate at 15 . When you talk to people in congress as brian schwartz, my producer reported yesterday, paul ryan is in favor of something higher. 20, 25 range. Neil by the way, paul ryan had a brief conference today. On this bannon multimillionaires. But we dont know. Might come up tomorrow, might not. The white house. Listen, getting that through a Republican Congress i find is going to be very difficult for tax increase. I just dont see it. So neil do you see it being as bid and across the board as originally thought . That they might just have to water this down to a tax cut, no tax reform in the scheme of things. But it might be watered down . I think it will be. And heres why i think it will be. Neil that it will be watered down . Yeah. Heres what i think. Theres already battle lines being drawn on what deductions to keep in and keep out. Tom cotton, i am told. I do not have this confirmed does not want to zero out the carry interest deduction. Thats a favorable tax treatment for private equity investing. He believes that given that this deduction helps create jobs. Theres an economic benefit. This private equity goes out and buys companies that are under water and tries to build them back up before they resell them. Thats the terry. I hear he doesnt want to get rid of that. By the way, there are republicans in new york, new jersey, and california. Are they going to vote to say no to the state and local taxes . These are high tax states. Is peter king going to vote no on the state and local tax like lets get rid of it. Hes the republican from long island. And 911 ones. And hes a congressman. So what im saying is theres battle lines being drawn on all of the deductions that theyre zeroing out to pay for these big tax cuts, so this could get pretty hairy. I know what some people are recommending is leave out deductions, fight that another day, and do something that everybody can kind of agree with. Neil thats something, though. Thats cutting the Corporate Tax rate pretty significantly. Neil well, even Newt Gingrich said to me, you know, while i want taxes for everybody, quoting him, it turns out the wealthy, we hadnt even addressed this five million and over club thing. He said i think the rich could live without getting a tax cut if to your point the Corporate Tax everyone better than particularly they do. Right. And maybe you get job growth. I think thats part of what people are talking here. Neil can you stay right here, my friend . I talked to senator of North Carolina about this issue of taxing the wealthy and whether that should be on the table. Listen to this. Would you go so far as to raise taxes on the wealthy . To the extent to me and tax reform as we did in north korea, everything should be on the cable. If it demonstrates to us were producing Economic Growth, which helps everybody in this country. Neil all right. Now, that was a view held by a number of other republican senators and congressman that i talked to. And that surprised me. I dont know if it surprised you. But i want to bring into this discussion along with charlie the former wisconsin governor, the coo of the Financial Services roundtable tim of minnesota. I apologize. Its been one of those days, governor. So please excuse me. What do you make of that idea that all right. Offset some of the taxes or uber tax on the super wealthy. Or no tax cut at all for them. What do you think . Yeah. First of all, neil, we should mention as charlie mentioned middle class tax cut and relief. Thats the right strike zone. You dont need to give a wealthy a tax cut. But thats different from saying their taxes should be increased. And people should remember the top marginal rate on taxes now is already 39. 6 . If you add in the obamacare taxes and some other hidden taxes at the federal level, youre already at 42, 43. Neil by the way, taxes arent going away. Maybe they get rid of the medical device tax. But all of those other taxes you allude to, keep it there. And then you add state and local taxes, and youre already over 50 . So i think most people would look at that and say maybe they dont need a tax cut, but they certainly dont need to have more piled on. Neil and why do you think the administration or bannon to the point through it out there . Well, i think two things. One is the point about populism. Its an easy punching bag. And then number two, they need to pay for these other cuts, and i think theyre going to have to look at this holistically. Yeah. I agree. Although, i dont think listen, if youre talking about who pays the most taxes and who if you give a tax break to will lend the most stimulus to the economy, its not the middle class. Okay . Middle class, you cut their i hate to be, you know, cut and dry about neil the elitest snob. You cut taxes, they may spend it. But we do know if you cut rich peoples taxes, they spend more. Neil more they invest. Or invest. And not only that, a lot of these Small Businesses file as individuals; right . Neil by the way, theyre free, free to do with their money what they want to do. But youre talking about the bang for their buck. Im just saying you start hammering rich people or Small Businesses that file as individuals that, you know, maybe hit that number. Im telling you, thats i think youre playing with fire with this economy. Neil you know what im beginning to wonder about, though, governor, again, i always talk about whether theyre telegraphing out of the white house. Where they want to go with this. And something tells me by even throwing out that tax on the rich or no tax cut at all for the rich, yes, to your populous point this is going to try to help the base and certainly make it easier to sell. But maybe its a way for this president who has had sort of a an acrimonious relationship with republicans to democrats down the road. What do you think . Well, i think thats a slippery slope for him because theyre not going to be with him, and he needs to understand, you know, how he got elected, and thats why i think populism is part of this equation equation. But to charlies point, you have to look at politics and whats going to positively impact the economy in continuing this sort of anemic sub2 gdp growth isnt going to work for anybody. You know, its a great point. And you just wish there was some movement in washington on this some sort of debate. I mean, we are literally debating some of the dumbest subjects in the world right now in washington. We are debating whos having dinner with the president , you know, really crazy stuff about Jeff Sessions when we have an economy thats growing. Neil but the president promotes that. I know. But thats my neil hes the one that keeps talking about Jeff Sessions. I guess the media talks about. Lets be real clear here. The economy is growing at 1. 5 . This is not talking about tax cuts. This is how you get to 1. 5 and take it to 3 . Neil hes the one that has to get the message. Youre preaching to the choir here. Neil thats the problem. He has a lot of good, sound ideas, there are a lot of people who are big fans of tax cuts in this environment. I understand that. But his Overall Economic package does offer the potential to spur activity and yet he gets in the way of his own message, and im wondering all of this obsession is hurting him. Yeah. Neil, it isnt even rocket science. Look, you can get a reasonable informed 12th grader to say do something called tax cuts. Do something called the health care reform. Do something on infrastructure. Keep the military strong, and get the economy growing. And in two years, he would look like a hero. And, you know, knock off the sideshow. It isnt that hard. It just isnt that hard. Listen, ive known the guy for a long time. I actually personally like him. Its hard for him. Its very hard for him. Neil all right. Thank you very, very much, guys. And, governor, my apologies. Deeply insulted, but we do neil as you should be. Thank you, sir. All right. So this repeal only vote and tea parties are already furious about it. But the end product might not be so bad if it launches discussions for something they might not really find not offensive in the end. Ill explain after this introducing new parodontax. The toothpaste that helps prevent bleeding gums. If you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. Help stop the journey of gum disease. Try new parodontax toothpaste. I wanti did my ancestrydna and where i came from. And i couldnt wait to get my pie chart. The most shocking result was that im 26 native american. I had no idea. Just to know this is what im made of, this is where my ancestors came from. And i absolutely want to know more about my native american heritage. Its opened up a whole new world for me. Discover the story only your dna can tell. Order your kit now at ancestrydna. Com. Neil all right. Now, weve got momentum going on this health care measure, repeal of obamacare thats not going to be repeal of obamacare. Theyre calling it a skinny version of this. Sometimes when people tell me things like skinny, it does stick in my head, but i leave it at that. Anyway, fox news capitol hill senior producer who is now and has been confirmed the most trusted and watched and respected person who does this sort of thing by the people he covers. That tells you something. Chad, help me with this because i get a sense were going toward this skinny alternative. The question i have is what is it and then when would it be agreed to, if that is indeed the direction. Right. The skin repeal, as theyre calling it, it basically deals of the bearing essences of obamacare. Gets rid of the medical device tax. It also gets rid of the individual and the employer mandate. The reason that they might go that direction is because they think thats the only thing that could pass the United States senate. Theres a call in the house of representatives, especially among some conservatives to try to move that. House Speaker Paul Ryan did not close the door for the house sticking around if the senator is to pass something. The republican senator from missouri told fox earlier today that he thought that the skinny repeal might be able to get 50 or 52 votes. But here it is. 1 00 in the afternoon with we still dont have a base bill as to what theyre going to be voting on. We dont have a plan as to when the socalled votearama where the senate just spends hours upon hours upon hours voting one after another is going to take place. Mitch mcconnell, the majority leader is playing his cards very close to his vest. And this is where you have someone like Susan Collins, republican of maine who voted against starting debate yesterday. She says when are we going to find out when the base bill is . 3 00 in the morning . A lot of questions here on capitol hill here, neil, but the speculation is that this will start later this afternoon, maybe this evening, and there will be a resolution pass or fail to this bill some time tonight or overnight on friday. Neil when you saw a resolution pass or fail that that is subject to a vote, lets say a skinny repeal, and i dont imagine at the end of the day immediately go into conference with the house, opposed to a lot of the things that would still be included here. So that would be done when . Well, thats the question too. Theres going to be a push, certainly by some republicans in the house. If the Senate Passes something to stick around a couple of days. Whether or not the house leadership is willing to go there, its unclear. Ive been coached off of that scenario generally speaking for the past couple of days. But paul ryan did crack the door open this morning. The preference by the House Republicans would be to go to conference. This is where you get all of the senators in the room, all of the house members in a room, you work out a merged unified bill. There is going to be an amendment coming up something would that well, that could be some time this august. It could be some time in september. Neil but not next weekend. Its unclear. Usually those things take tim t. Neil well, why dont you know . Youre the most trusted guy here. Because the lawmakers dont know, and thats what im saying. Its very unclear. And one thing i want to point out here. Theres going to be amendment here in the senate have been vote about quarter after 2 00 offed by steve, republican of montana. Its on single pair. Single pair. Something some democrats like. Now, single pair is something steve deigns, a conservative from montana doesnt like, obviously, but he wants to get democrats on the record. What happens, neil, during these big budget votes is where they weaponnize the votes, and they try to get people on the record and say aha. You voted for this. Remember back when when you voted for this . Neil all right. You appear to know what youre doing. Very good doing. Chad, always good to see you, my friend. Loys. Neil senator rand paul, by the way, was open to this skinny bill repeal. It certainly sounded like it. Take a look. It is disappointing, though, that many republicans who promised to vote for repeal already had voted for this repeal chose this time not to vote for it. Neil you know, i dont know what theyre going to end up, whether the skinny repeal thing. But the whole thing seems goofy in the end. Well, skinny repeal is better than no repeal. Neil okay. Skinny repeal better than no repeal. Remember when john mccain took to the floor of the senate this week . He found that kind of talk for a party settling on something because its better than nothing. He found that offensive. To my next guest, nick ford, National Review editor and incredible writer. Weve got the washington writer correspondent sarah. Ill end with you and begin with you on this. When people are regrudgingly moving forward saying this is the best we can do, i understand that theyre saying this is the best we can do. But ive also heard from house that this is the worst thing you could do. And the two could not be more diametrically opposed. How do you think this is going to go . Well, look, its interesting because you only see republicans arguing for this on procedural grounds. Not on policy grounds. They see this as a means to an end. They see this as a way to force the bill into conference, maybe reshape it into something more aggressive. Now, Mitch Mcconnell is going to bring the most broadly appealing version of this bill to the floor, so we might see it include nothing more than just repealing the employer mandate, repealing the individual mandate, repealing the medical device tax that includes nowhere near the changes that republicans wanted earlier in this process. But he just wants to maximize its chances of passage, moderate republicans like that it doesnt really touch the Regulatory Framework of obamacare and conservative like that its a vehicle to advance this out of the senate and finally get into talks with the house and trying to come up with something that can be sent to th the president s desk. Neil well, good luck on that. Because if im former president barack obama watching this process, im enjoying it; right . Because at the worst, it looks like im going to get most of what i originally had. Well, it shows theres just inertias that the most important Political Force in the universe. And lets you create facts on the ground like they did with obamacare, its just really hard to unspool it. But i think this skinny bill only makes sense as a vehicle to get to a conference and write, again, a full repeal and replace bill. And thats the intention of the senate leadership. Neil and thats why Chuck Schumer was worried; right . Because he was saying this is like a trojan horse. Be careful, guys, theyre not really that wounded. The bad thing is kicking the can down the road. The good thing is you are a little bit further down the road. Its better than this dying this week, which it would do, unless they had this minimal option. Neil what are your bundlers, donors, what are they saying about all of this . Theyre saying this theyre saying if we cant do anything with health care reform, this is what people elected trump, they elected senators, congressmen on repeal and replace and tax reform. And if were not doing anything about it, then why write a check . When i go make my case, neil, to fund a candidate, a republican candidate, what do i sell him on . Oh, do this because we want to repeal or replace obamacare. We want tax cuts. We want this. We want this. We dont get anything. So neil i want to target these guys who are dragging their feet. You know, murkowskis and all of that. That would be groups like the clubs for growth. Youre going to get people that are going to challenge these republicans that stood in the way of making progress neil he has gotten heavy pressure. No. Whats going to happen is youre going to see republicans challenging these people in a primary. And people like heller or collins, a lot of them have to answer to their states. But i think its not going to stop outside groups from going into the state. A kind word about Susan Collins dont do very often. At least in december 2015 when they voted on a repeal bill, she voted against it. Neil absolutely. She wasnt one of the six, seven republicans who voted for it because they knew obama would be highly symbolic vote neil no, youre right about that. Nothing new here. Senator, one of the things that come up we talk about those who had been in the eyes of the administration dragging their feet and murkowski, she apparently call from the interior secretary reminding her about funds that come to her state. Now, that astounded a little tony sopranoish to me. But what do you make of that the white house could exert on holdouts or those that the Administration Says dont do the right thing. Well, its something that we havent really seen the administration do so far. Neil and the administration does this kind of thing; right . Exactly. This is not unusual that they would be doing this is actually expected that they would be using whatever resources they have at their disposal to try to get this over the finish line. Now that the number of skeptics in the Republican Party have been wigglinged down to such a small group, they are hoping that they can pressure those last holdouts into supporting the bill by pointing out that they are the last politicians standing in the way of repealing obamacare. Nobody wants to be that guy. So they are bringing every resource they have to bear against these senators. So far, theyve left the heavy lifting to mcconnell, and i think they realized that was not done the trick. They were going to salvage this after the repeal and preplace bill and mcconnell had to pull it from the floor. And it looks like this could be dead. Then the white house really rolled up its sleeves, and thats why this might have a chance of passing. Neil real quickly, guys. Is it your sense, rich, that this troubles on getting tax reform, even cuts through . No. I think if they fail on this, theyll be more motivated on taxes because they dont want a big goose egg on the scoreboard. But i believe skinny repeal will pass the senate by tomorrow morning. Neil interesting. Okay. Noel. I really think that tax reform is the way to go. I dont know if we can ever get it together on health care. But i know we have to get together on tax reform. And most republicans are very conservative when it comes to taxes and will probably more fall in line with taxes than they do with health care. Neil but not on everyone getting that tax cut; right . Like the rich. Right. Exactly. Steve bannon, potentially, is pushing internally for a high tax rate for the rich. Who knows where theyll take that. Neil yeah, because allowry is furious about that. Not materializing. All right. Guys, i want to thank you very, very much. Thanks, neil,. Neil meanwhile, i forgot about whether Jeff Sessions is in danger of losing his job is Reince Priebus. After this potsch you each drive 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 . Neil all right. Take that, bezos. Because amazon stock has come down and microsoft stock has not come down more than that. Bill gates is still the richest man on earth for the time being. Big turn around of technology. I really dont know why. You know, these hidden inflection points and all of these market technicians who follow this stuff to the slightest detail. To me, its like reading chicken. But they find their reason to pounce and say they hit that point, and then they sell on it, and then buy it on the dips. Im not smart enough to know exactly what they do now. But these stocks had runup fast. I mean, this shows you the dip from the position they came into from yesterdays close. But its actually more pronounced in this case because i think in this case of amazon, i think that stock climbed more than 30 bucks. So now down close to 4. That is a big, big turn around here. Amazon reports earnings after the bell. Amazon, of course is the catalyst by which we count wealth for jeff bezos. His 80 million shares had surged to the point that they had eclipsed the wealth of bill gates, formerly the worlds richest man and now bill gates is saying not so fast, retail man. He didnt say that. Thats just me trying to make Business News approachable. All right. In the meantime democrats are planning to release a new agenda of their own. You might have heard about it. But congressman tim, remember the ohio democrat challenged nancy pelosi . Telling me about some of the problems with that. Take a look. Neil so what do you say as a prominent democrat, someone who challenge nancy pelosi that message should be . We cant recollect has been an antibusiness party. We cant be hostile to business first and foremost. We need to encourage an environment where investors can make investments and grow and create jobs. But we need to have a positive agenda that is about putting money in the pockets of average people, neil,. Neil all right. To california democrat congressman john here. Congressman, great to have you back with us. Is there some Division Within the democratic ranks on this how to respond to this . Obviously, the very fact the leadership offered this alternative tells me maybe theyre looking at their coughers, not raising a lot of money, maybe the fact that they cant be opposed to republicans. Whats going on . Well, first of all, theres plenty to oppose. But thats not enough. Thats clearly not enough. You have to have a positive message, and we really do. Were talking about a better deal. Were talking about how to increase the wealth of the middle class. How to make programs in place so the middle class has a better opportunity to climb up the economic ladder to really end what has been about a 25year stall by the middle class and the lower economic income brackets below that, similarly placed. So thats the program. There are many things that are involved in that. Certainly, the education, the job training. Theres also the jobs. Where are they going to come from . For example, infrastructure. A piece of that infrastructure is the measure time industry. Were working on a proposal now to build oceangoing ships for america again. Some for the navy, not naval ships but naval supply ships. And we can do it and have some legislation that if enacted would probably lead to the construction well over 50 oceangoing commercial ships for the shipment of lng and oil. Neil all right. Liquified natural gas. Let me get your comments, the administration has thrown out there the possibility of putting a surtax on the super wealthy, those 5 million and over. Would you buy a tax package that included a tax on the wealthy to make it more palatable . I only say that in the context of a lot of democrats who are against sweeping across the board marginal tax relief. But not before if it included a tax hike on the very wealthy. Well, certainly we know right now that theres been enormous shift of wealth to the upper income people of america. Top 10 have really cumulated most of the wealth of americas growing economy over the last two decades, almost three decades now. Thats a problem because that is not available to the middle and lower income classes. I find the proposal that you talked about to be most interesting because, in fact, the congress of the United States house of representatives voted to do exactly the opposite. They voted overwhelmingly amongst the republicans no democrats to significantly reduce the taxes on the wealthy. So much so that the largest shift in wealth in any piece of legislation in anybodys memory was in the house repeal and replace obamacare. Neil youre talking about they were going to take away the surtaxes largely on the wealthy to fund that; correct . I dont think you have to worry about that because it looks like the only tax theyre going to remove now is the one on medical devices. How do you feel about that . It makes no sense to remove that tax. It is a excise tax on the value of the sale. 2 , i believe. Which has little impact and virtually no impact whatsoever on the sales, on the value of the equipment. That is being that would be a medical device. Does it reduce the profitability of those companies . Not talking about the most profitable of all companies medical Device Companies. So its basically nominal. However, it is strongly felt in certain parts of america where many of the medical Device Companies are located. Nevertheless, we should not reduce that tax because also neil the bottom line is thats the worst theyre going to do. Now, that can change like you say in conference, but it looks like. Well, we really do not need a tax cut for the wealthy. What we really need neil well, i think everyone gets medical devices; right . Well, you mean 2 on a i dont know a hard stint, thats going to make the difference between getting a bypass or not . Neil whether youre poor or rich, you still have to pay for the stint; right . Well, that is a minimal, part of the cost. Neil but it could have been worse on the taxes for you. Oh, absolutely. The house bill was a extraordinary transfer of wealth. You take away the health care benefits, and you transfer all of that money to the super wealthy, all of you i real serious economic issue as well as certainly a health care issue. Neil congressman, thank you very much for taking the time. All right. Lets update the battle of billionaires right now. I dont think theyre too focused on this themselves. But bill gates has now moved ahead of jeff bezos, given the fastmoving changes in the stock. But it is an interesting battle, but i havent even gotten started with Mark Zuckerberg because hes creeping up in this list like a horse race. Its bigger than big, and im all turnover. After this [brother] any last words . [boy] karma, danny. Karma [vo] progress is seizing the moment. Your summer moment awaits you, now that the summer of audi sales event is here. Audi will cover your first months lease payment on select models during the summer of audi sales event. Whoa thats amazing. 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. Type in your idea. Select from designs tailored just for you and publish your site with just a few clickseven from your. Mobile phone. The internet is waiting start for free today at godaddy. Neil all right. Were waiting for that White House Briefing Sarah Huckabee sanders doing the honors. It is on camera, slated for just a few minutes from now. By the way, we had an interesting comment passed along to us to a senior official at fox gnaws. And this is indicative of the president s thinking. One of the worst things you can do to President Trump is to show insecurity. Sessions, referring to jeff service stations showed that. Reince, referring to Reince Priebus has showed that. I dont know what that means, if you are showing even a hint of insecurity, you are out of there. Who knows. To the hill editor and chief who had never showed so much as a second of insecurity in all the years that i have done. What do you make of that . I dont know where and how that came to our tension, but what do you think of it . Yeah. Well, if you think back to why trump hired priebus and spicer was he was convinced okay. These are two Washington Guys who know how to get stuff done in washington. And then continues to stall, health cares moving. But its been late in the process, so i do think its remarkable that you have scaramucci just really, the power that he has is unbelievable. And remember, usually chief of staff and the white house are the ones firing people. Scaramucci neil well, i think he will be the chief of staff. And i could be wrong. But this Communications Director thing was just i dont know kind of move in that step. Yeah. I mean, hes playing to scaramucci as you know has been doing a lot of interviews. But hes been playing to an audience of one, trump likes him. He likes his confidence. He likes how he deals with the media pushing back at times. But also, pushing trumps agenda and scaramucci is basically promising im going to start to clean house and the president s agenda is going to move. Thats easier said than done. And priebus has tried. He knows how to move stuff in washington. It just hasnt been moving. And some of that is because the president has gotten off message at times. Neil yeah, i think thats the core of the problem. Its both the administrations greatest asset the president , and sometimes its worst asset, the president. Because hes very effective communicator. But, unfortunately, gets off message a lot. And this whole Jeff Sessions tirade there. There might be a message im missing. But a lot of people getting tension off discussion, donald trump jr. Fine. But i dont think its working because i think more people are talking about that than a lot of positive developments like the foxcon announcement yesterday to create jobs in the u. S. I think it gets lost when he goes on these tears on twitter that have nothing to do with either. Yeah. If he talks about lets say the Health Care Bill right now. Just talked about that, talked about policy, talked about the economy, talked about the stock market, i think his numbers would go up. But i agree. It worked on the campaign trail kind of chaotic, different messages. But in governing, you have to stick to it and repeat it, and thats not trumps strength. Neil do you think are big fans, including many in the senate . Yeah. I think to some degree, it does. But i also think his base is with him. I mean, like obamas base, they always stuck with the president. And i think theyre sticking with trump here. But some of them are, like, lets get off this and talk about this. So you can get some wins. Neil yeah, well put. Bob, always confident, always a good job. They would never even think of getting nasty with him. All right. In the meantime, we are waiting for that White House Briefing. Well begin any minute. So anyone who looks attentive or unsure of themselves, you can see them sweating. Im just saying. After this hi. Im the one clocking in. When youre clocking out. Sensing your every move and automatically adjusting to help you stay effortlessly comfortable. There. I can even warm these to help you fall asleep faster. Does your bed do that . Oh. 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Go long™. Neil all right. Bordering on panic, careful of drinking this margaritas in mexico, Hillary Vaughan on state department. Whats going on, hillary . Hey, neil, the state department mexican vacation resorts. Drinks have been found laced with grain alcohol, even methanol, causing people to black out almost instantly. Many waking up in the hospital with broken bones. One tourist says she was assaulted and one tourist died. A shocking investigation by the Milwaukee Journal Sentinel looked into the death of 20yearold abbey connor after she simple her big brother often were found face down in a resort pool just a few hours after arriving at the resort with their parents. Now, more victims are coming forward to tell their story to the milwaukee paper. Each of the victims were staying at star resorts where guests enjoy unlimited food and beverages. May m say employees were reluctant to call authorities and calling those trips to the hospital for cash. The resort would not allow police on the premise. We reached out to them insisting they only purchase sealed bottles of alcohol saying in part we work with food and beverage operators whose beverages comply with highest quality of standards to guarantee satisfaction and safety perform but the Mexican Government does admit counterfeit alcohol is a big problem. A 2015 report found that 43 of alcohol served in mexico is illegal, unregulated, and dangerous. Neil. Neil all right. So now not just the water, the drinks. All right. Hillary vaughan. Meanwhile, gerri willis now on gridlock over this health care reform. But how could it affect your current coverage and whether youre part of obamacare or not. Whats going on, gerri . Hey, there, neil. Thats right. Lots of concern in the insurance boardrooms, let me tell you. And you think Insurance Coverage on the Obamacare Exchanges is expensive now, well, just wait, say health insurers. A proposal scaled back the Affordable Care act, the socalled skinny option that would get rid of obamacare mandates. Well, that could push insurance rates even higher if passed. Thats according to the Blue Cross Blue Shield association. Thats a major insurer on this health care exchanges. Heres what they said. That theres no longer a requirement for everyone to purchase coverage, it is critical that any legislation include strong incentives for people to obtain Health Insurance and keep it yearround. A system that allows people to purchase coverage only when they need it, well, drives cost up for everybody. End quote. On a earnings conference call, the ceo of anthem said if a company doesnt get more certainty about the future of the exchanges, well, it will further narrow our level of participation. Anthem is the largest for Profit Company in the Blue Cross Blue Shield association. Swedish need for costsharing reduction payments for 2018. And then without them, he said, the insurance may boost rates, well, 18 to 20 , neil n. Neil you know, one of the things that has always been raised in this, the fix is the changes would be negligent i believe. But if youre right, the fall of the reverberations could be substantial. Absolutely. Not only are we talking about higher insurance rates; right . Well, more of these insurers could leave the exchanges. Already weve got humanna and aetna out all together. Well, more could go. Neil do you get a sense that this, for example, with preexisting conditions are worried republicans in conference are going to find a way to change that . The house one was loosygoosy on the subject. The senate one doesnt touch that issue. But theyre going to collide on this. I think its going to be a major talking point. A major Sticking Point as we come into this endgame negotiations and talk. Look, this is a very, very big deal for americans across the country, particularly people with serious conditions that will need treatment over a period of time. Neil all right. Thank you very much, gerri willis. Taking you to washington right now, the White House Briefing room where momentarily we are going to hear from Sarah Huckabee sanders, a briefing that will encapsulate what weve been discussing over the next few hours. Including the measure that thats the one that they agree on. And this infighting at the white house that has now broken the chief of staff Reince Priebus battling with the new guy in town Anthony Scaramucci. And this comment passed along to us from a white house Administration Says one of the worst things you can do to President Trump is to show insecurity. Jeff sessions showed that, reince had showed that,which might be that official unnamed to say that that could be a problem. So much so that could end up in them losing their job. And when that happens, then you feel even more secure. So how can you feel secure when that kind of talk is out there. Do you fake it . Or do you just put a human face on and say what the heck is going on . Might have a better idea in just a couple of minutes. Stay with us. Introducing new parodontax. The toothpaste that helps prevent bleeding gums. If you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. Help stop the journey of gum disease. Try new parodontax toothpaste. Neil all right. Well, some salaries kicked in that categorizes when you have big advances and turn around. Looking at advances in the dow. The nasdaq had a short, short turnaround centered in amazon, reporting earnings after the closing bell. But watching that battle tightly and closely because its a battle of the billionaires for the richest on earth. With the immediate runup, jeff bezos had eclipsed bill gates as the worlds richest man, you can cut the tension with a hightech knife. Bill gates up by a few hundred million, things can and will change. I dont know why i get so excited about this. I want you to share my excitement. Battle of the billionaires, Mark Zuckerberg is closing in on both of the guys. How will it end . Check in at 4 00 p. M. To trish regan. Trish love it, thanks, neil. Breaking right now, everyone. Hearing from the white house any minute, Sarah Huckabee sanders will be having her daily press conference. All of this coming, of course, as there are possibly new leaks out of Top White House staffers, incoming White House Communications director Anthony Scaramucci suggesting the leaker, one of them, anyway, may be chief of staff, Reince Priebus. Im trish regan, welcome everyone to the Intelligence Report as we wait here on press secretary Sarah Huckabee sanders. I want to bring in Fox News Contributor and former Campaign Manager for president reagan, ed rollins, to get his reaction to all this. Wow, last night, Anthony Scaramucci, do we have the twee