president reagan, some say boulder than that. >> he understands there are a lot of people, that feel like they work hard and cannot get ahead. >> this is one thing he can do quickly, get it done quickly, it will be a huge jolt. it will pay for itself, right away. >> they are sick of turning their paychecks on washington, and having no idea how those dollars are spent. they are frustrated by a tax code that is so complicated, they can't even do their own taxes. >> you will get more output. am and profit, but you get payroll taxes, income taxes, sale taxes, property taxes. >> tax reform is such a big priority, he cares about making the economy work better for all american people. >> there is no need -- this will pay for itself, i have not been happier in a long time. liz: president trump trying to deliver on one of his campaign promises. turn around worst economic recovery since worl world war ii, create jobs by give you back your money. he is onboard? who against him. welcome to "risk & reward," i am liz mcdonald in for deirdre bolton, democrats thought they had a way out of the politica little bit wilderness. -- cheer on rioting and protests at g.o.p. up to halls, whisper, send out dog whistles about trump on the take. taking whatever money from whom ever to set up impeachment proceedings. with one stroke, president trump is showing how to stop the democrats. democrats favor tax and regulatory mausoleums to en tomb the economy and your wallet, trump wants to cut and simplify tax rates from seven brackets you were president obama to just three. simple brackets, cut taxes for small businesses. source of net job creation over last decade, we go to adam shapiro. reporter: small business right now mom and pop shop owners pay highest income taxes right now because of the way the tax code is set up, what president is proposing is lowering that tax rate to 15%. what the secretary of treasury steve mnuchin is promising they would take steps to make sure that very wealthy americans could not use the new tax code to their advantage and starve the treasury of revenue. >> the business rate will be for small, medium businesses and corporations, we'll make sure that there are rules in place so that wealthy people cannot create pass throughs and use that as a mechanism to avoid paying the ta tax rate they should be on personal side. and dividend race, restoring 20% capital gains rate is critical to investment here. reporter: that in particular for an average investor who might have a short-term investment in stocks, if you don't hole that stock for over a year you can wind up currently paying a tax on that investment, if you made a profit. that would be equal too your tax bracket. if this is law you would pay 20% capital gain. other things they are talking about is protecting homeownership and charitable gift tax deduction, mortgage interest rate deductions would be protected. what so chopping block, deducted for state and local taxes, that includes real estate taxes it is like you know i'll huff and puff, and blow yourself down. nar is coming out saying that president's tax proposal is a nonstarter for home openers and real estate professional. liz: boy, getting rid of those deducts, california and new york will get it. no big tax break for the rich. top brack it sticks at 35%, slightly down from 39.6%. and steve mnuchin said he does not want tax breaks for the rich. >> we're committed that small business, owner-operators will have the business o -- benefit of the business rate. this is not a loophole to let rich people who should be paying higher rates pay 15%. this is for small businesses that drive the economy. liz: despite that democrats like schumer dusting off decades old critiques that do not have any credibility, everyone knows that democrats have taxed small businesses to bankruptcy with things like obamacare. >> we'll look at what they're proposing. i can tell you this, if president's plan is to give a massive tax break to the very wealthy in this country, a plan that will mostly benefit people and businesses like president trump's that will not pass muster with we democrats. liz: nancy pelosi waying in with old critique. saying that trump's tax plan are short on details. and on and on. with me now. coo . jeff dewitt, this plan that even democrats should love. what is missing with pelosi and schumer, is that even the, 2/3 of u.s. household get benefits, because mnuchin is sayio givewa for the rich. >> you are right, everyone should love this plan, i am so happy to talk about this, it is like asking a little kid to talk about christmas. i love this plan, i love tax cut, that is when can -- this does what candidate trump promised, lowers taxes on middle class, strengthen our small be community, repatriate money from overseas, and it simplifying the tax code and reduces targeted tax breaks that not everyone can take advantage of. liz: small businesses went upside down and more businesses failed than creates, in the last 8 years. because small businesses -- som shouldn't democrats be worried about that at the time when robots takeover job. >> any democrat that said we're not tacking enough, government, state local and federal takes in more taxes, than ever in history, 4 federal government will take in over 4 trillion dollars in taxes this year, state and local different 2 trillion, we're taxing our citizens over 7 trillion dollars, they need a tax cut, that will add jobs and grow the economy. liz: we've fallen through the looking glass over last 8 years, turning upside down in how the economy was being run. every platform was about tax cuts and economic growth, but now we have m.i.t. economic professor, jonathan gruber he called us all stupid, because we didn't know what he knew about obamacare and how bad it was. he said that idea that tax cuts create massive growth. >> tax cuts don't pay for themselves, they don't come close, and looking for you look at the most rapid job growth since ron hainsey i -- ronald reagan it was under bill clinton who raised taxes on the rich. the notion that will cause massive increase in growth is wrong. liz: more breath takingly idiotic analysis from gruber. kennedy cut taxes from high 90% rate at time, there were 4 recessions in 11 years. because of high tax rates, he did it fed tax revenues poured in and economy boom, same with reagan, what is wrong with gruber. >> we learned back in obamacare that gruber is a goober. we should not liste listen to him. -- we saw you know millions more jobs come in with reagan tax cuts, that will bring back manufacturing and middle class, this is a plan that gets it done. we have to get it through as fast as possible. liz: all right jeff thank you. >> next up, president trump's tax cut means for you and the average american? you people out there running your businesses. you want to make more money and keep our money. we have expert, gerri willis. >> you know the trump tax reformplan, saves biggest tax cuts for small business and medium businesses and corp hagues. -- corporations, first 24,000 dollars worth of earnings will not be tacke taxed for married couples filing joinl jointly. it will repeal death tax. only safe deduct for individuals are mortgage and charitable contribution, they will dismantle the state and local income taxes. liz: do you think this will pass. >> i think they will have a hard time with it because of that, you have to imagine every senator congressman from a big, city state. chuck schumer will saying you can't do this because he knows he can't keep raising taxes at rate they have overtime, look at taxes we pay. it is ridiculous. liz: to bring it out to forefront what we pay, in california, new york, illinois. what i get it you know pay taxes for the system but they waste money. >> they do. one more small point, small business operators, they will see their taxes lowered to 15%, same equal footing with corporations, the majority of small business operators report their business earnings on personal business tax, they pay more. and 39.6% to 35%. so, a lot of implications, we're working it out. seeing what details are. you have to pull everything it. liz: can you imagine how many small businesses would be created with that 15% rate. >> not just, that i was talking to my friends with small businesses, they are hiring people. liz: there you go. >> thank you. liz: next up, video of a police officer saving a man just in time. >> hey, hey. hey. liz: we'll tell you what was going on there. now this story coming up as well, a north korea intelligence briefing happens right now on capitol hill. we will ask ambassador john bolton if he has any idea when they are talking about. the big story after this. don't go away. ♪ war, what is it good for ♪ absolute absolutabsolutely nothing ♪ if you're taking prescription medications, does your mouth often feel dry? a dry mouth can cause cavities and bad breath. over 400 medications can cause a dry 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korea. a lot of effort that president has already tak taken with president, whic, xi. >> house is about to have its classified briefing on north korea amazing rising tensions. we'll on that story. earlier the full senate had a rare classified meeting at the white house about north korea. on heels of north korea's latest provocation. happening just 100 miles from seoul in south korea. up to 400 pieces of a artillery fired, marking 185 anniversary of its military. >> he is not going to let this nut job in north korea develop a missile with a nuclear weapon on top to hit america. he doesn't' want a war any more than i do. liz: we welcome ambassador john bolton. how do we stop north korea? >> i think only real solution is to reunite two koreas, persuade china it is in their best interest this reunification occur. we've seen where china played a double game where they say yes, we agree. they have not put on the pressure they could in last 25 years, maybe this time will be different. i know that white house is optimistic. i hope they are right, i don't want that we've seen that evidence yet. liz: how we stop a north korean missile strike. fox news brit hume said that communist north korea may be able to attack north korea. reporter: closer than ever to putting together a nuclear weapon they have to deliver even to west coast of u.s., they have been shrewd in squarinscaring daylights out of world community. and pursuing their nuclear ambitions of face. liz: w we know that the the -- so, how do we stop a military strike a missile strike from north korea? >> if it got to that point, i think they are getting increasingly close. president would have to consider preemptive military action, any president's first responsibility is to protect the people of the united states that could lead to war on the peninsula, catastrophic collapse of north korean government, a lot of innocent civilians in seoul, south korea and elsewhere being killed. china has huge economic leverage on north korea, supplying over 90% of their oil, food and humanitarian supplies. china has feared if they apply that pressure, the government will collapse, and u.s. will have its troops on the river, we don't want our troops there. there is a deal that if people in china are interested enough they will see it. we're in a race between diplomacy of reunification, in my view, and a real military threat from north korea. liz: a topic for you. iran, more provocation. a u.s. destroyer in the persian gulf forced to alter course by an iranian vessel acting aggressively. a u.s. official tells fox that iranian ship had its weapons manned and came within 1,000 yards of the u.s. destroyer, harassing that destroyer, after the story. that president obama was cutting secret side deals, that involved dropping charges against iranian arms dealers, one allegedly responsible for deaths of u.s. soldiers. what happens to the iran nuke deal now? with revelations about obama side deal. >> i'm not sure we really know all of the side deals or things said to iran or assurances given by president obama and secretary kerry. that was a disgrace. it going to get worse after, that this provocative behavior by iran against our ship, this one more example of a continuous course of conduct over past year and a half since the nuclear deal was signed. every expectation by obama white house that deal would change, ran' iran's behavior have been proven wrong. imagine what will be once they get the capability. and be clear there is a link between iran and north korea on ballistic missiles, on nuclear weapons, whatever capability north korea gets, iran can have the day after for suitable price. liz: wow, ambassador thank you for your time we love having you on. >> thank you. liz: ann coulter telling fox news there will be no speech at uc berkeley after all, the group pulled its support amid threats of violence and rioting, judge napolitano is here, he said we're letting the mop stop free speech -- the mob stop free speech, that is wrong, don't go away. why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. >> famous people come to cal all of the time to speak, their speech is not barred, not religated between 1-3, and they are not off-campus, these are unique requirements that are being imposed on conservative speakers at call. liz: that is attorney for conservative group at berkeley, upset that ann coulter canceling her speech young american foundation pulled its support because of threats of violence and riots, as berkeley's mayor is being questioned to his tie to extremist left wing group responsible for the riots in berkeley. look who is here, fox news senior judicial analyst, judge andrew napolitano. >> protesters win by scaring people into silence, that is known in the law as heckler's veto, they scream so loud lo loudly, or advertise their intention to, when it happens to a -- so, by ann coulter being scared away, she is a tough cookie. by the university showing or demonstrating or leading her to believe they can't protect her, scared away from speaking, young americans for freedom case against berkeley has been ratcheted up. the case is, berkeley is unwilling to protect the free speech of those whose idea it hates. liz: wow. they have a case. >> of course they have a case, the government cannot engage, berkely is the government, government cannot engage in view point discrimation, they have to protect the free speech of everyone invited. the right of speakers on speak. if the administration of berkeley can't plans those interests -- balance those interest it ought to get out of business of running a state school dedicated to freedom of speech. liz: there are so many problems with what is going on event elizabeth warren said, if you don't like what ann has to say, don't show up. >> a ann coulter has gotten such a bigger platform because someone denied her a chance to speak. my view is let her speak, don't show up. liz: ironic that ann coulter is being treated like hate speak, when you have perez dropping f bombs, and the masks, is it again the law in california. >> it again the law in new york, the masks is another issue. but it is unwillingness of the government of state of california, through its employees at berkeley, to treat all ideas equally. that is the real offensive aspect. ann coulter has a substantial case again them, and young americans for freedom, the people who offered to pay her, rented the space, got the agreement from university, they have a substantial case against the state of california. i don't know where this is going togo. but supreme court is very clear. political speech on government property, the government has a duty to protect the speaker, any the listeners. liz: you have to wonder if berkeley law professors knew about that, they should have. what is going on, in 60s, berkeley you know youngrotestedn support of the free speech. against things like vietnam war, now young people, with encouragement of berkeley professors areriy o rioting free speech. >> we're in danger of losing free speech, when employees of the government, that is what the professors are, encourage their students and students comply with that to cause such a confligration that speaker cannot be heard, what is what supreme court condemned. liz: if it moves forward we want you back on. >> i thought we were going watch her speech tomorrow but we're not. liz: did they miss an opportunity to debate her. >> yes. liz: they could have had a from from professor. >> deny snood i think the denied. liz: i think they are scared, i don't think they are smart enough to debate her. >> a police officer saved a man just in time. >> hey, hey, hey. liz: we'll wel you what happened there. but first this story. "the five" greg gutfeld, saying that protesters are enforcing suria law for snow flakes. >> they are saying we're not blocking free speech, we just can't protect you from people who will harm you over free speech. imagine if a lifeguard said, normally we give you cpr, but we are not giving cpr on democrats. wrap plan at crowne plaza we know business travel isn't just business. there's this. 'a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. >> this is sharia law for snow flakes, they believe you do not have a right to language. if they get angry at you, the only thing you can do is be violent, there is no debate, no conversation. liz: the co-host of "the five" greg gutfeld on fox news channel. ann coulter canceling her speaking even at berkeley today. we bring in our powerful panel. geeano is greg gut felfeld right? >> he is, these are anarchists. if you look at brookins institute put together, 90 schools that disinvited conservative speakers, lutheran college, what they student republican group tried to getting it and violence took place. this is a good place for betsy devos to get involved and investigate these enstution these institutions like berkeley, who choose to disinvite people are say they can't protect them. she should investigate and strip funding from them. >> there was no disinvitation, ann coulter was welcome to come and speak her mind, she was not welcome to speak her mind and her ideas in a place that students would be at risk, university tried to work with organizations and with ann coulter to find a place to say what she fell, and encourage conversation, let's be fair, ann coulter is not one that started good -- >> i hear you. yeah, yeah, okay. >> first. i never said she was disinvited. liz: hang on. i want to get this one point important, young american count doing saying we discovered that university of california police department of berkeley has an official stand down policy for any situation that develops on campus as long as the situation does not involve the imminent loss of life, so, basically, foundation saying that lets leftist thugs who have terrorize berkeley campus, do so without consequence. there are so many issues, is this delusional? do the berkeley police have a crystal ball where they can predict imminent loss of life. >> this is insanity at this point. i think that judge napolitano's point on this issue is quite clear, there may be a case to be hea head in terms -- had in terms of courts. interesting in knowing that if my liberal counterpart kelly is interested in defending action of student body who was looking to push a violent agenda. >> i am not defending violence, i am not saying that the police should not back up a good conversation of ideas, but ann coulter is not coming to campus hoping to start a good conversation. >> but who are we to judge on that, who are we to judge. >> the college has to make decision with their law enforcement how best to protect the students while protecting them. >> so, so. >> they were trying to give her a forum, place and time. liz: kelly, kelly, hang on. stay with me. so, the date they selected, nobody would be around. >> berkeley, people are always there. liz: wait, hang oyou know, students not. >> less people. liz: all right, that is the point, why not just be positive for a second. i am talking berkeley, would it be great if to a liberal law professor take on ann coulter, that would be exciting. >> of course but that is not the agreement she came up with. liz: come on, come on, you know -- what is going on, kelly, you know -- kelly, you know. not all ann coulter's fall, it is leftist rioting. >> always leftists. >> i have yet to see a conservative college riot over a liberal speaker involved. >> they would not let. >> i have yet to see -- >> they don't. liz: kelly. >> a conservative college disinvite a liberal speaker because they disagree. there is usually an opportunitto channelts views that is what people' a debate of the issues. liz: kelly, final word. >> yeah, universities are where placing should be debated, berkeley was trying to give her a safe space. liz: now they have a lawsuit. >> coming up, a follow judge in san francisco blocking president trump's sanctuary city order. my next guest said that details. from american senate for law and justice, exposing the judge for who he really is, after this -- can i read that again? 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my next guest said, think again. s after this. first, let's take a look at your financial plan and see what we can do. ok, so we've got... we'll listen. we'll talk. we'll plan. baird. try new flonase sensimistgies. instead of allergy pills. it delivers a gentle mist to help block six key inflammatory substances. most allergy pills only block one. new flonase sensimist. gave us the power to turn this enemy into an ally? microsoft and its partners are using smart traps to capture mosquitoes and sequence their dna to fight disease. there are over 100 million pieces of dna in every sample. with the microsoft cloud, we can analyze the data faster than ever before. if we can detect new viruses before they spread, we may someday prevent outbreaks before they begin. >> he has been a tremendous champion of supporting families and unabling them to thrive. >> you hear the direction from audience. >> i have heard criticism from media, that has been pe perpetuated. i know from personal experience. i think thousands of women who have worked with and for my father for decades, when he was in private sector, are a testament to his beliefs and solid conviction in the potential of women, and their ability to do the job as well as any man. liz: ivanka trump booed by a crowd at a woman's event in germany this week, defending her father, saying he is an advocate for women. and our media at home, what did they say? >> she shared stage with some most powerful women in world, and faced uncomfortable questions about her dad's at attitude toward women. >> to help empower women, finds herself defending one man. a handful of hecklers. >> eivanka came that champion the cause of working women, but with baggage, her father's baggage. >> some members of audienc odd groaned. liz: our panel is back, sexist comments are wrong. we've denounced president trump forever his past sexist comments, he has apologized. does it look like liberal media is giving the fair shake. why is the daughter being booed? >> she is there for a proxy for the administration. liz: a proxy? i am talking about her being booed. >> right. that is what was being booed. she was not. liz: come on. -- kelly come on you just the last segment you said you are not defending the rioters but you defend the reasons they riot. was liberal media gloating. >> absolutely they were, she was not there as products to president trump, she was there giving personal testimony at first daughter. and i think that is something that people should respect. if you don't agree with what my thamy father said, you should not boo me that is distasteful. liz: kelly. >> she works for the administration. he has the lowest percentage of women in white house, lowest percentage. liz: he has a woman in the cabinet. he has 4 -- >> there were 6 under obama, and clinton, and 5 obama. the lowest there have been, there is less women in white house than last 6 presidential terms. >> so it going to personally embarrass the daughter, okay? >> it's not. that she is there to have an opinion based on her place in the administration. liz: okay. >> so, my opinion, clear with ivanka trump's present. and women getting equal pay, women having the access to child care. just a number of issues with ivanka has been a tremendous asset to president trump. so yeah she is there, she represents the administration. she does work there. but i recognize her as a tremendous value, pushing or at least allowing for president trump to see some of the areas in which he may not see. it should be applauded. kelly, you as an individual you know these issues you are a smart woman, you could at lift bleaveat -- least be honest, saying he has pushed president trump in a way beneficial to woman. >> i would like to be honest, when trudg trump administration makes advantage like hiring more women. >> the democrats have been blocking people they have nominated. liz: all right, hang on. we heayou, thankou. >> evan cai ivanka is pushing for those issues. >> a testament, i mentioned issues that she pushed for, and thank you kellyfor admitting that is the case. liz: kelly you are terrific, you bring fire and passion and information, geeano you are great too, more after the break, don't go away. .. liz: we are moments away from a new fox news national poll on the trump administration's first 100 days. it's coming up at 6:00 p.m. eastern time. david: good evening, i'm david asman in for charles payne and you are watching "making money." breaking today, president trump's top economic team unveiling their tax overhaul plan. it includes three tax brackets instead of seven. some people are calling it shocking' it is pretty dramatic. >> dramatic and revolutionary according to steve mnuchin. he says it's the biggest individual and business tax cut in american history.