Skip to main content

We're fighting for the future of our library in court. Show your support now!

tv   Mornings With Maria Bartiromo  FOX Business  February 7, 2017 6:00am-9:01am EST

6:00 am
did hit a three-month hike is in the morning. but down at of 52.85. nicole: disney come up america and the gm trying to find direction. it's worth noting our editor that has been moved 1% since december 7th. those 40 days. looking for clarity. looking for clarity in the new administration. maria bartiromo through the next couple hours of trading. >> good morning. thanks for being with us. i maria bartiromo. happy tuesday. it is tuesday february 7th. 6:00 a.m. on the east coast. defending the so-called travel ban and defy them last night, the president has the broad authority to decide who can and cannot come into the united states. president trump telling our troops yesterday by this kind of policy is needed.
6:01 am
>> we've been seeing what is going on over the last few days. we need strong programs. so that people that love us and want to love our country and will end up loving our country are allowed in. not people that want to destroy us and destroyed our country. freedom, security and justice will prevail. maria: oral arguments will be heard tonight. with the executive order bring together leaders in the technology sector? a show of unity after many ceos that what the president. on capitol hill, democrats hold a 24 hour debate over nominee betsy devos going all night overnight ahead of the confirmation goal expected around noon eastern time. markets look like this this morning. the hair opening for the broader
6:02 am
average. dow industrial 50 points. as you see, s&p 500 and nasdaq also positive. we will hear from general motors today along with michael ahead of the open. investors watch disney as well. that may very well be an important market barometer as well. in europe, markets are higher. the agency is high across the board. dax in germany catastrophe said. in asia overnight, little change. although largely to the downside. new england patriots preparing to celebrate their super bowl victory parade happening today. massive crowds last night. it is this one t-shirt that is making waves. roger goodell on the t-shirt.
6:03 am
dagen mcdowell, michael blackbeard and strategist fox news contributor tony see how. good to see you. >> good morning. dagen: great to see you. we were already talking in the green room about everything. >> we started the conversation. dagen: an overwhelming amount of notes. often the white house. trade to the trump administration want to go fast but he just started doing executive order after executive order. >> does the prevailing feeling. he was ready to take action. maria: we will talk about that this morning. americans for tax reform president grover norquist is with us. what is expecting pcd of the group and former nfl star jack brewer is that brewer is that the spirit house majority leader kevin mccarthy is going to talk to us about the timing of all of this and what is expected in terms of policy.
6:04 am
former chief economic adviser to president obama and celebrity chef chris santos as it does. he's got his new book out. big show ahead. the battle over extreme dieting. that continues this morning. the ninth circuit court of appeals that the oral arguments in the challenge of donald trump's executive order restricting immigration is that they mostly muslim countries. the decision to come quickly. the white house press secretary sean spicer and kellyanne conway are all arguing the executive order is a matter of national security. >> isis is bad. they are evil. they cut off heads of christians and muslims than anybody else that gets in their way. they drown people in steel cages. this is like not since the medieval times has anything happened like this. the previous administration allowed it to happen. >> the president had huge discretion to protect the american people.
6:05 am
>> we are confident we will prevail in the will prevail on the merits. the ninth circuit is todd, but as you say, presidents have very broad authority, but they also have a duty and responsibility to keep their nation safe. dagen: joining us at the american center for law and justice. good to see you. thanks for joining us. >> good morning, maria. dagen: the ac lj just filed a brief in this case as well. why? what do you expect tonight? >> well, we believe the trump administration clearly within the presidential power to act, not just a stunt brought constitutional article ii powers, but statutory law passed byongress going back to the 1950s and 60s and nationaly act gives the president the ability to prohibit anyone who may be a detriment from entering the
6:06 am
country. also looking at extreme relief offered to washington state but the whole issue about whether the state even as standing on its own to sue in this matter and whether they met the standard of a temporary restraining order which is to show irreparable harm to the state and that they will likely win on the merits when in fact the district court judge's order, there is little analysis both constitutional and statutory. outside the ninth circuit decided not just to review this by paper. they could've just read the appeal of issue whether or not the trump administration is requesting on this temporary restraining order which would then allow the executive order to go back into effect. instead because there is so little legal reasoning of the lower court level, they are doing this phone call hearing
6:07 am
for an hour, which will listen into will listen in to what the one at 6:00 p.m. eastern time. dagen: jordan, dagen mcdowell. all of this panel, the ninth circuit panel has to decide whether the original judge in seattle abused his discretion when he issued that order. this is a long legal road ahead for this travel ban, this travel order out of the white house. what kind of timeframe are we really looking at before it is decided in the courts, what president did was legal. >> sure, it's going to be quicker. a normal federal case can take a year plus to make us with a city that made its way to the supreme court. talking about the executive power. other laws around the country. you are right that this lawsuit at the hearing today is just really on the temporary restraining order. it's not on the merits of the case. he was kind of the two routes
6:08 am
this can go. if washington state prevails again today, they've got a three-judge panel. one is a carter appointee, one is obama, one is a george w. bush appointee. if they prevail, the trump administration can ask for a review by the ninth circuit. if that is denied at the ninth circuit, they can go to what is called the circuit justice. the circuit justice is the supreme court justice responsible for the ninth circuit, which is still the most overturned circuit in the country. that is justice kennedy. he could issue a state hearing gave her the trump administration. this could happen quickly within 24, 36 hours if it has to go that route. it could also not answer if you could refer the state issued to the entire supreme court. that's a fast track of a procedural matter of the temporary restraining order. the actual marriage portion would continue on regardless and
6:09 am
let's start back at the district court. >> jordan come with talk a restraining order. but this is a national injunction. they've essentially done something that impacts the national mall. how strong is the legal case for him to do that in your opinion? >> is interesting because a lot of people are pointing to what happened with president obama's actions on immigration. a texas district court judge did a similar action since there is universal jurisdiction, which district courts to have over their nation in certain areas of the law. they can issue these kind of orders. it was clear that the state was facing a heart. texas had to prove they were facing harm and that was the cost of the public school system and the issuing of drivers license.
6:10 am
that's what got them over the hurdle. the difference there was president obama was not acting on the side of the constitutional precedent, but in opposite of what the law actually says. here, it is difficult to see how washington state itself, not some of the companies it represents. that doesn't matter. how this turns washington state. there's no legal right of constitutional right for washington state to benefit from people not in the country that are not u.s. citizens. maria: they just didn't like the executive order. formerly cia. he basically said there's no legal backing here. it is just that they didn't like the order. so they moved on it. >> why do expect more for the ninth circuit? do they think the trump administration wants to go to
6:11 am
supreme court as quickly as possible? >> honestly, they would rather have this handled at the district court level. no temporary restraining order issued. ultimately it made its way to the supreme court, but fast tracking it all the department of justice is coming together, we don't have an attorney general. we have been acting solicitor general. this is a tougher time. it doesn't mean that people are not completely qualified to do this. it's also a questionable time. this could be an opportunity where the presidential power lines are so clear that it could be the four train a force about which would mean we go back to the lower court decisions than what happens at the ninth circuit could hold out. it would probably be better for the trump administration. maria: that they ask about technology industry. coming together to oppose the president's travel restriction. companies criticizing extreme
6:12 am
dieting and they say they are against it. tesla, apple, google. giovanni yogurt, do you think this opposition will make a big difference in court? >> i think it does in washington state. but the opposition, they didn't actually filed the lawsuit. they are not the actual plan is here. the state of washington and that is an argument the department of justice will make today in the hearing, especially if the attorney general continues to harp on that support. just like i was filed an amicus brief, we are not parties to this, so we don't have to show that. microsoft can file their lawsuits. they are not doing well. the state to has to show the harm. it is the city gives the federal government. maria: thanks so much. we appreciate your time this morning. more bill o'reilly exclusive interview when he goes into his backing of the order. 8:00 p.m. eastern on "the
6:13 am
o'reilly factor." more segments from the interview you haven't seen just yet. senate democrats holding a marathon session in a final attempt to derail confirmation of her feet devos for education secretary. the latest imac coming out. lady gaga may be the winner of super bowl 51. sales surging over 1000% after halftime show. she may start her own beverage brand. back in a moment. ♪ at angie's list, we believe
6:14 am
there are certain things you can count on, like a tired dog is a good dog. [ dog barking, crashing ] so when you need a dog walker or a handyman, we can help you find the right person for the job. discover all the ways we can help at angie's list. mattress firmness?
6:15 am
enter sleep number... she likes the bed soft. he's more hardcore. you can both adjust the bed for the best sleep of your life. right now, find our queen c2 mattress at $599. go to for a store near you. afoot and light-hearted i take to the open road. healthy, free, the world before me, the long brown path before me leading wherever i choose. the east and the west are mine. the north and the south are mine. all seems beautiful to me. companies across the state are york sgrowing the economy,otion. with the help of the lowest taxes in decades, a talented workforce, and world-class innovations. like in plattsburgh, where the most advanced transportation is already en route.
6:16 am
and in corning, where the future is materializing. let us help grow your company's tomorrow - today at maria: welcome back the senate democrats at the final on the defensive to derail the nomination of bessie devos as education secretary. cheryl casone with the details. reporter: great to be back with you. of course everybody on the panel. democrats are still at it, believe it or not. they kept the lights on all night in the upper chamber, wei yi min. take a listen. >> it is difficult to imagine a worse choice to head the department of education. we need someone in charge of the nation's education policy who knows what they're doing and who will put america's young people
6:17 am
first. and that is not that the devos. >> this is not a job for amateurs. >> she cannot and will not uphold the law if she does not understand the law. reporter: all of this is pretty much for show. despite the last-ditch efforts, devos nearly confirmed. two republican senators who oppose her nomination. they said that they fit if it is split but mike pence is expected to cast the tie-breaking vote, which will be the first time in history vice president has had to step in to vote for a cab to pick like this. someone has come under fire for to see if charter schools as well as accusations. we will keep you posted on this. other headlines this morning. user privacy to new york's highest court today. the social media site challenging information on
6:18 am
nearly 400 of their users in connection with the disability fraud case. so far lower courts have sided with prosecutors, berlin and it's a too individual users to challenge these warrants. facebook already handed over the information, but it continues to argue it has the right to challenge. we will keep you posted on that. find a increasing concern that america's airports could be vulnerable to insider threats that would be liable for attackers. a new report by the house homeland security committee found most of the 900,000 people working at airports could bypass security screening on a regular basis. three airports, miami, orlando and atlanta screened out there in place before allowing them to enter a secure areas. the combat threats recommended expanded screening and continues back and testing. tsa response as they are reviewing this report. finally, maria, fresh off the
6:19 am
incredible super bowl reform act, lady gaga now launching her very own line of wine. she's named after one of her songs covered ratio growth that was inspired by a friend of hers battling cancer. different varieties of wine, wine coolers and one punches all under that name. no word yet on the official launch. who in the press conference with her at the super bowl. she's really growing up. she's becoming very poised and it's nice to see her kind of expanded her repertoire now. maria: she was terrific paper rather murky how it's refreshing not to hear any politics. it's like what we needed. what about this one? will you pour yourself a glass of lady gaga wine? dagen: you are a wine drinker. >> a deck of a trump line, there can be preachy.
6:20 am
true to my favorite moment was when she gave a shout out to her parents. hi dad, hi mom. they must have been standing right there. when they come back, i in earnings this morning. the second consecutive quarter of double-digit earnings growth yesterday. we are all over it. we will check media and entertainment companies. supermarkets of the feature may only require a handful of humans. amazon is having for their grocery stores. that is next. back in a minute. ♪ what if technology
6:21 am
6:22 am
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. 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
6:23 am
and get medical help right away. ask your doctor about cialis.
6:24 am
maria: welcome back. the parent company of fox business network 21st century fox reported in the fiscal second quarter the company posted nearly 30% jump in earnings by strong advertising revenue. michael block with us this morning. disney after the close tonight. when you think about this? >> there's a lot of excitement about the group. even disney has been mentioned as a possible target. there's still a lot of worry about espn. viewers are going for disney they don't have great business network that public members like fox says. there's a lot of concern as people continue to untether. that being said, the staff has done pretty well the last few
6:25 am
days. expectations are little more optimistic than i would've liked to see him go in and the price action. if we get an upset from espn that would be the big driver here. >> you make a great point because they just got an e-mail from s&p capital i.q. apparently the s&p 500 earnings are better than expected. up six and a quarter% so far. we know the first quarter will be strong. double digits in terms of profit growth. even a fourth-quarter better than expected. dagen: a lot of local drive trading then you might agree or disagree with in the weeks and months to come as what comes out of washington. are they policy is so critical to reviving economic growth. how long are we going to have to wait for tax reform, tax cuts, doing something about corporate taxes for concrete regulatory rollback. this comes from charlie brady, one of our editors here at fox
6:26 am
business. the dow hasn't moved at least 1% up or down since december 7th. 40 trading days of 31% move. we haven't seen that in two and half years. maria: do you think things have gotten delayed at this point? we're talking about tax reform since before he was elected in office. we know that's what has been driving these markets in election night. have things been delayed in terms of the timeline of when this will hit? >> priorities are taking shape. that's considered major tax cut. a major deregulation in and of itself. >> people forget wealthier americans pay 3.8% investment tax. they are very debilitating. the executive order specifically on to regulating the financial industry last friday
6:27 am
precipitating the whole choice act which is the republican replacement for doc frank. you want to talk about repealing workplace. with this choice act, that is sick celebrating the conversation on a lot of financial deregulation items that we know i've been well received by the market. >> there have been a big run. now we have to see that come into effect. let's not forget q1 last year was pressed in the market was really go in lower. the economy was not looking good. i will get tougher as the year goes on. so there's a big thing. i wish that the market sky. policy does matter. they need to play either be a focus administration. the distraction. friday was a great day because they heard about doc frank.
6:28 am
tranter related point. bob iker probably going to stay on. we told you yesterday. if you look at it, and impact on the stock has been a good thing for disney. >> they need more clarity. in a few months it's going to be now. maria: will take a sharp break. congressman donald trump's call for tax cut down on the priority list in a move that has been called a big risk. we'll talk with with grover norquist coming out. starbucks making valentine's day a little sweeter. or one week only, limited edition. back in a moment.
6:29 am
6:30 am
6:31 am
maria: good tuesday morning, everybody, i'm maria bartiromo, it is tuesday february 7th, top stories 6:30 a.m. on the east coast. tax reform taking a back seat to other top issues on capitol hill, delay could turn costly for the gop. move coming as the president tries to reform trade. >> they want to negotiate a deal. i want to negotiate a deal. we will see what happens, but we can always do a tariff or a tax if necessary and we will do that if necessary. maria: the latest on the changing environment coming up. then is your tv watching you? the major fine one company is paying for collecting user data without consent.
6:32 am
it could be rough seas ahead for the industry, new concerns this morning for your health while on board. well, forget paper or plastic, amazon's new grocery store concept bringing the technology but bags the employees. the details on robot run super market. market this is morning looks if i can this. we are at the highs of the morning right now. dow industrials 60 points, nasdaq, s&p 500 as firmly in positive territory. the indices is higher. different story overnight in asia, weakness across the board there with japan the weakest, down 30%. patriots return home as champions, but it is one coach's shirt that's stealing the headlines, why the team is clowning around while celebrating their historic victory. top stories half hour, president trump's policy plans, tax reform a priority and corporate america
6:33 am
has high hopes on lower rates but it appears changes are getting pushed to the back burner. joining us right now reform for president, grovers it is good to see you, markets have been rallying on the idea that taxes are coming down. how big of a risk is this? congress is, in fact, taking tax reform to the front to the back burner. >> one of the keys to point out whether they pass in august or september of this year, it will take affect the lower corporate rate. they are looking to take the rate 20%, will take place for the entire year. i wish, though, the president and the congressional leadership will make that clearer and louder, when i talk to people they say, oh, yeah, cut corporate rate, it's for the whole year. starting in january we would haveer rate and the same thing for full business expensing, immediate expensing, we need to make it clear to businesses that that takes effect now, there's
6:34 am
some consensus issues in tax business expensing, there are other issues that are not consensus issues that are great too, but we should be cleathat the first two will happen and then work on the rest of it. >> what you're saying is we could see the legislation implemented later in the year, september even but you're hopeful that it will be retro active to january 1 and that's okay. let me ask you where there isn't agreement and that's the border tax plan. >> yes. >> the border adjustment tax, give us your plain english analysis as far as what this could mean for the economy and how companies would react, we have this report that basically goes through -- report from bloomberg, land rover would take the hit to recoup tax.
6:35 am
ford would only need to raise $282 in the face of that. so give us your sense of what this border adjustment tax means for consumers. >> well, the border adjustment tax taxes import, income tax on imports the way europeans do with value added tax and exempt then when you export. it gives an advantage to exporters and puts a tax on importers. it has a challenge and that is is all tariffs, all border taxes are taxes on american consumers. i know sometimes political leader like to make it sound as if foreigners paid tariffs or taxes at the border but they don't, american consumers do. it is a piece of a broader tax reform package that's overall tremendous progrowth, if there was another way to find the
6:36 am
trillion dollars over a decade that they are looking for like spending restrain or entitlement reform, that would be stronger for the economy. dagen: grover, politically if there's going to be a tax policy change like adjustment of border tax and adds to cost that consumers pay on automobiles, it's going to be portrayed by opponents, democrats as a tax increase and that's a major head wind if you want to push thu through congress, right? >> well, the overall package is a dramatic million trillion package. the piece of it we are talking about, the border adjustable piece in itself will raise revenue over time, less so, but the other challenge you have is that -- the advantage, rather, if we are at a 20% corporate rate and the president wants to go to 15. if we keep driving the corporate
6:37 am
rate down, it becomes less damaging to have it be border adjustable in terms of consumer. dagen: right. >> grover, mike block here. what about carried interest tax for private equity type funds? is that part -- in the cards as well for this administration, is that something that should be, if not? >> both are being discussed. trump said he wanted to carried interest. second tax on a dollar and ordinary income carried interest the move there does that. it moves ordinary income instead of capital gains. that makes me uncomfortable. it's not in terms of the long-term trend. it's not that much money, it is a signal that some politicians told us hedge fund guys this
6:38 am
wasn't about them, my preference is and my hope is that they will not be raising taxes and turning capital gains into ordinary income and therefore raise the price. on the mortgage interest, that's -- there may be caps on that. right now -- if that's your interest, i get in and start talking to congress and senator, but average citizens will not see any change. maria: all right, tony. >> grover, good to see you, two-part question. you have the individual rates and corporate rates and overall tax reform are these best done collectively through legislative process, number one, number two, are we going to get democrats on board. you have ten red state quote, unquote democrats who will be suited to cooperate on passage of reforms. what do you think?
6:39 am
>> there may be democrat votes for the package, there will not be participation in drafting unless there's eight votes. there's no point of negotiating for less strong tax return in return for three democrat votes or five democrat votes or seven democrat votes. seven democrat votes are worth nothing. eight would allow it to pass it outside of reconciliation. unless you have eight, you might as well have none, why move to the left and have allowsier tax plan in order to make some democrat running in a red state look like they are pretending to be protax payer. it just gets them off the hook. [laughter] maria: we have followers on twitter, they really want to ask leader kevin mccarthy who is coming up in the program, what specific tax moves will actually move the needle on economic growth?
6:40 am
this is from john farris and basically saying what tax reforms are cut to generate growth? what do you want to make sure is in that package because it's going to lead to growth? >> absolutely. taking the corporate rate from 35% down to at least 20% with the goal of getting it to 15, letting the world know that that's where we are would be a tremendous driver of growth. the other is going to fold immediate business, those two things dramatically reduce the cost of capital and reduce the cost of investment and would make the united states a much better place to invest and create jobs. maria: all right, we will leave it there. always a pleasure to have you on the program. we will see you, grover joins us there. is your tv watching you? a major fine for a company selling and user's data without consent.
6:41 am
maybe harder than you think to grab fresh air in your cruise vacation, what you need to know before leaving port anything worth pursuing requires knowledge, hard work and a plan. at baird, we approach your wealth management strategy the same way to create a financial plan built to last from generation to generation. we'll listen. we'll talk. we'll plan. baird. bp engineers use underwater robots, so they can keep watch over operations below the sea, even from thousands of feet above. because safety is never being satisfied. and always working to be better.
6:42 am
6:43 am
because safety is never being satisfied. this is one gorgeous truck. special edition. oh, did i say there's only one special edition? because, actually there's 5. aaaahh!! ooohh!! uh! holy mackerel. wow. nice. strength and style. which one's your favorite? come home with me! it's truck month! find your tag for an average total value over $11,000 on chevy silverado all star editions when you finance through gm financial. find new roads at your local chevy dealer.
6:44 am
maria: welcome back, markets are looking higher this morning. take a look, futures indicating a gain of 70 points. we will tell you what's driving things. certainly earnings and a number of areas, bp wasn't name we are watching. annual lose for second year in a row. bp's earnings were way down due to declining oil prices, we are watching gap stores today. retailer raising due to strong holiday sales. well, vizio settled lawsuit.
6:45 am
cheryl: vizio has agreed to pay the settle the suit, the company accused of using internet connected tvs to secretly watch and sell to firms. the company says it never paired the viewing data it collected with the names of the users. well, if you're considering a cruise, listen to this, a german environmental association has warned that passengers on a crew ship could be inhaling 60 times more harmful pollutants than they would if they were breathing fresh natural air. they found the concentration of harmful ultra fine particles at their peak levels, 200 times higher than in natural fresh air environment. it was 20 times worse than in the busiest city centers in some
6:46 am
port cities, the ship sun deck and jogging land, the worst air quality. well, also today starbucks bringing back a favorite for valentine's day, molten chocolate drinks. you can order the chocolate delight, hot chocolate, only available for the week. they disappear after the holiday. amazon reportedly playing giant super market run by robots, the store will be staffed by only three human beings, amazon has previously denied opening grocery stores. so the one that's in seattle is kind of neat, uses sensors and no cashiers. the stock is nearly up 8% this year. like it can go any hire. back to you. maria: god, the beginning of the end.
6:47 am
i know this is a big deal for amazon and its costs, but michael, three employees. all machine. >> we keep hearing about mcdonalds the new labor secretary, talking about these moves. thinking about what amazon is doing here and the whole story, this is a real big threat to the wal-marts, targets, kroger and i say whole foods. back in the day, you would have thought, hey, how do we make sure the produce is right. they get it right. i can see amazon getting things right. there's a uk company that some of the smarter hedge funds are looking at, grocery delivery. t. maria: my concern is the jobs and the fact that they don't need nigh human -- need any human beings to do it.
6:48 am
>> we also don't need people to run horses and buggies anymore. maria: okay. >> we heard about this earlier after trump's election. maria: doesn't have ibm have all the problems, when was the last time you saw increase in revenue ? >> the world keeps changing, let's keep changing wit. you want to make america great, embrace this sort of thing. maria: all right. >> good coffee. dagen: consumers only want to put automation to a point. >> i100% agree. dagen: getting lost in the auto phone systems when there's a problem, whether it's your cell phone bill or your bank statement. maria: next thing you know your tv is going to start watching you. >> i couldn't agree with you -- dagen: i started yelling into the phone, operator, attendants.
6:49 am
>> we will see. maria: well, we are getting there. >> you're there, mike. maria: when we come back the patriots are returning home and they are the champions, they are getting ready for victory parade in boston. one ach's t-shirt that i making headlines, we will be right back arly morning... every late night... and moment away... with every and paycheck... you've earned your medicare. it was a deal that was made long ago, and aarp believes it should be honored. thankfully, president trump does too. "i am going to protect and save your social security and your medicare. you made a deal a long time ago." now, it's congress' turn. tell them to protect medicare. this is where i trade andrs. manage my portfolio.
6:50 am
since i added futures, i have access to the oil markets and gold markets. okay. i'm plugged into equities- trade confirmed- and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit to see what adding futures can do for you.
6:51 am
6:52 am
maria: welcome back, new england patriots return to boston last night to get ready for victory parade this morning. that parade is happening 11:00 a.m. eastern but defensive coordinator matt made a statement yesterday as he got off the plane. patricia was seen wearing a shirt with a red nose depicting
6:53 am
him as a clown. this is something that's been going around trading desks and news rooms, dagen, what do you think about this? is this a bold statement by the defensive coordinator? dagen: i think it's hilarious. the t-shirt was apparently made by this company called bar stool sports and the founder is known by being a very devoted tom brady fan. a group of fans that were arrested during a sit-in over protests so it's, you know, a big move. i'm editing myself in terms of the message -- [laughter] dagen: nfl leadership, whether you want to talk about a curse word or a hand gesture that was me editing. [laughter] >> i'm kind of looking at that saying, you know it's not
6:54 am
deflate gate that made him a clown, you know, maybe it's something else. maybe it was something else and there's a lot of people that -- maria: guys, can we talk about the missing super bowl jersey? yesterday it was reported that it was given back and now late in the day we find out that tom brady is still missing his super bowl jersey, he asked for a bit of help during mvp conference yesterday and said, listen to this. >> i put it in my bag and then i came out and it wasn't there anymore, so it's unfortunate because that's a nice piece of memorabilia, if it shows up on ebay, someone let me know so i can try to track that down. maria: even the texas rangers baseball team trying to help track jersey. here we are tasked with finding a jersey named adrián beltré lead detective.
6:55 am
do you think somebody actually stole some brady's jersey? >> it seems like that would be the only motive because if he put it in his bag, someone obviously had to have taken it out and probably on purpose and in that regard, yes, look at the internet to see what's being sold on the open market and if you find your jersey there, that's probably -- dagen: i'm going to point out that the joke is actually that the lieutenant governor dan patrick called out the actual texas rangers, not the baseball team. [laughter] dagen: the rangers, the famed law enforcement group within the state to help track this jersey down and that was a joke that the baseball team then put on twitter and said we are on the case too. maria: got it. dagen: legitimate search for this jersey. the prices are all over the place because it could be mid six figures, high six figures.
6:56 am
>> all-time leader in super bowl, number 5, historic jersey with a lot of profitability behind it. dagen: you can't sell it without getting arrested. >> black market, dagen, you know that. >> vladimir putin said, he said the jersey is mine. [laughter] maria: a joke about that on twitter since putin took bob krafts's super bowl ring. >> one of the coaches lost the play book? yeah, in the second half. maria: if the winner of the super bowl was not one of the the original national football league teams then the stock market would go down. the predictor saying that it would be a down year. michael, you say it's all about policy, are you expecting a selloff coming soon? >> not because patriots won the super bowl. i don't buy that. i'm not a big fan of history.
6:57 am
mean reversion in history, this is a great example of why we don't do that. what does this happen to do with anything? maria: you think the market will be up this year? >> it has nothing to do with this. [laughter] maria: all right, all right. you're too much of a fundamentals guy, i guess. >> i'm not into witchcraft, i'm sorry. [laughter] dagen: put a spell on the patriots and they would have lost. maria: we are looking at a rally today any way. >> put the giants in there. maria: how keeping millennial mind set is helping nordstrom, 116-year-old department store ahead of the competition, next we will get into retail, back in a minute healthy, free, the world before me, the long brown path before me leading wherever i choose. the east and the west are mine. the north and the south are mine.
6:58 am
all seems beautiful to me. companies across the state are york sgrowing the economy,otion. with the help of the lowest taxes in decades, a talented workforce, and world-class innovations. like in plattsburgh, where the most advanced transportation is already en route. and in corning, where the future is materializing. let us help grow your company's tomorrow - today at be overwhelming and complicated. that's why at cancer treatment centers of america, every patient gets their own care manager, to coordinate every aspect of their care. it's a long journey, its very complicated and we try to help them through that. we are available 24/7.
6:59 am
if a new symptom occurs in the middle of the night, we are there to help. the care manager coordinates all of the patient's appointments, scans, chemotherapy... the last thing any patient really needs to worry about is how am i going to get here, how is insurance going to handle this? one of the great things we do is help them manage their symptoms at home. we as care managers want to take as much stress off the patient as we can. meet the care managers at ctca. my name is mena... collette jodi vincent stacy our nurse care managers are with you every step of the way so you can focus on your fight. learn more at appointments available now. so how old do you want uhh, i was thinking around 70. alright, and before that? you mean after that? no, i'm talking before that. do you have things you want to do before you retire? oh yeah sure... ok, like what? but i thought we were supposed to be talking about investing for retirement? we're absolutely doing that. but there's no law you can't make the most of today. what do you want to do?
7:00 am
i'd really like to run with the bulls. wow. yea. hope you're fast. i am. get a portfolio that works for you now and as your needs change. investment management services from td ameritrade. maria good tuesday morning, everybody, welcome back, thank you so much for joining us this morning. happy tuesday. i'm maria bartiromo, it is tuesday february 7th, your top stories 7:00 a.m. on the east coast right now. keeping america safe. the trump administration taking the next step in its legal battle over the the so-called travel ban. justice department will argue that the president has the authority to restrict travel into the united states. in capitol hill a democrat delay, senate democrats are holding a marathon debate overnight and still going right now as they try to derail the confirmation of betsy devos. >> she wasn't reluctant to declare her opinion, she wasn't trying to strike a middle ground, she did not know what i
7:01 am
was talking about. >> fundamentally her lack of understanding that the right that teachers have today, the right that parents have today and the right students have today mean one thing, she cannot and will not uphold the law if she does not understand the law. maria: we have the very latest coming up this morning on the confirmation hearings, plus drug dealer whose sentence was commuted by president obama is back behind bars, he was reportedly caught with more than 2 pounds of cocaine. the outrage ahead. fire risk in the front seat, mazarati recalling 50,000 vehicles for two separate issues. markets rallying today. take a look at futures, higher opening for the broader averages, dow industrial expected to be up 60 points today. in europe the markets are higher in early trading. take a look at the euro zone indices. the cac quarante is up a fraction but the ftse and the dax index both up two-thirds of 1%.
7:02 am
different story overnight in asia, little changes with the major averages as you see there across the board decline. what's old is new again, the playboy clubs of the 60's makes a comeback with bun nice, we have e details on the new playboy club coming to a neighborhood near you. all coming up joining me fox business dagen mcdowell, chief strategist, michael block and republican strategist and fox news contributor tony, good conversation on taxes this morning and on growth. >> great morning. >> exciting times. maria: yeah. >> grover knows how to explain complicated things like border adjustment tax in a way we all -- dagen: it's still going to be portrayed on tax increase on consumers who can least afford it. that's why gas prices haven't gone up in mid-90's, we fuss about the need of infrastructure funding.
7:03 am
it's going to be a long road. >> battle, no doubt. maria: which is why it's a battle right now. >> takes time, clock is ticking. dagen: get on it. maria: we will talk about that this morning with house majority leader kevin mar car think with us this morning first on fox. economic adviser to president obama and chris santos is here, have you seen chris' new book, we will tell you about it coming up. first top stories ninth u.s. circuit court of appeals will hear arguments tonight. senior counsel to the president kellyanne conway says the ban will be reinstated. >> we are confident that we will prevail on the merits, we know the ninth circuit is tough. as you say, presidents have very broad authority but they also have a duty and responsibility to keep their nation safe and that's what president trump is trying to aif he-- effectuate
7:04 am
here. maria: lack at what's happening in europe and middle east, courts must act fast. joining us right now political analyst juan williams, also the author of the book, we the people, the modern day figures who have reshaped and affirmed the founding father's visions of america. juan, good to see you, thank you so much for joining us. >> you're welcome, maria. maria: immigration ban is in the interest of national security. it's hard to argue what a president would say because you would think the president has more information than the rest of us in terms of keeping the country safe. >> of course, and i think the issue here is not one of security, i think you have to see that ground to the president to the knowledge you talk about typically presidents are granted authority in terms of immigration issues. we recently had a case in texas where president obama try today make changes with regard to the deferred action on children of immigrants and the texas courts
7:05 am
said no, you can't do that, it has impact on state government, on what we have to do here and when it went to the supreme court it was 4-4, it was left in place. and i think that could be a precedent in this case because you have google, you have apple, you have the state of washington, you have now 26 attorneys general joining in saying, this ban is damaging to us and in addition we have people who were cia directors, intelligence agencies, people saying, it damages our alliance overseas, so we will see what the courts have to say. >> jordan was on earlier and said the difference with the texas case and washington is in the texas case there was damage and impact on the state via the public education system and other sort of civil things that were offered to residents that were being undermined by that action and in the washington case it is more corporate, it's more about companies, it's not necessarily materially negative impact on the state of washington which is why the
7:06 am
ninth circuit as dagen pointed out before, does this judge in seattle even have the jurisdiction to take broad action as kellyanne conway said a national injunction. that seems like an overreach. >> in the case of immigration, tony, immigration is a national issue, you can't have kind of spotty, you know u by the book one guy here another guy there in terms of who is able to come into the united states. once you're in the united states, you're in the united states. >> but the united states versus arizona obviously does grant the idea that the supremacy clause give immigration authority, that is what barack obama's administration -- >> it didn't work for obama, that's the thing. >> a clear incident in texas which is not as clear in washington. >> there is no incident that's evident here unless you wanting to back and play games with the kentucky massacre or something, nothing has happened and i think i read yesterday that there is
7:07 am
not one instance since 9/11 of someone who has come here as a refugee committing an act of terrorism. mass terrorism in the united states. dagen: that's not what's at issue. it's what you started saying. does the president have the authority to make this decision regardless of whether there was imminent threat or not. >> i think tony was saying there was a real damage in the texas case. i think that was your point. maria: the broader point is the president and his ability to push this. >> we all agree that presidents should have authority over immigration. >> by that standard, juan, you're admitting that washington doesn't have stand to go even bring this case to court which is one of the tenants of the government's -- >> not at all. i tried to emphasize that when you look at the texas case, what the court said there was there was real consequence for the local government, real damage, someone suffered injury and therefore the rights to implement. maria: president trump tweeting right now.
7:08 am
i don't know putin, i have no deals in russia and haters are going crazy, yet obama can make a deal with iran, number one in terror, no problem. what about that? maybe president trump could be a little less, i guess, friendly toward -- toward putin, but look at what the president did in the last eight years doing a deal with iran, going to cuba, i mean, all of this stuff and the media didn't say a peep about it. >> are you kidding, we said ton about it about the iran deal? maria: what did you say about it? >> in the case of the iran deal people said he was doing business with the enemy. president trump thought he thought it was the worst deal ever. we have people who have complained. i think there was some sense from not only israel but from saudi arabia in saying why are you doing business with our enemies, you are, in fact, not helping your friends but you're giving more strength to your adversaries and so there was
7:09 am
lots of commotion about it and it was a hard-fought deal in congress. i think people had lots to say about it but ultimately it was about assuring that they were not developing a nuclear weapon. >> i would argue that, look, when it came to the iran deal and failed russian reset, barack obama gave substance to be debated and argued against with. his actions were undermining the national security and strength of the country. in this case, the idea that donald trump might have an open mind about the bilateral relationship between russia and the united states is what's getting the attention. he hasn't even done anything yet to be criticized yet the criticism is harsh. maria: i don't know why he responds. dagen: he can't help himself. >> there's a method to maddens, he's trying to refocus, americans, the world public opinion to say, let's undo this thing with iran that's bad, i think there's a method to the
7:10 am
maddens in this one. i think this one works for me. dagen: the language that he choses to use complicates agenda potentially with the three panel on the ninth circuit who is going to make a decision about judge robart, are they politically motivated now, does it feel it's under attack by donald trump, hey, the so-called judge out in seattle. again, it does complicate matters and creates uncertainty. whether they rule like that, judge napolitano would say, hey, when you put that robe o mind changes and you follow the rule of law and you take that responsibility very seriously. maria: why anger even your supporters with that kind of a tweet, so-called. >> the tweet this morning, what he's talking about the haters, the haters are respond to go what he said to bill o'reilly when he said to o'reilly, i like putin, doesn't mean that i want to embrace him and then he say that is the united states in response to o'reilly saying that putin is a killer, the united
7:11 am
states is not a bunch of innocence and not done things, are you saying the united states pushes journalists out of windows and poisons people. dagen: strange illness on russian patriot that senator john mccain -- listen, even marco rubio. maria: he was poisoned, right? dagen: organ failure. marco rubio, everybody has an issue with trump it seems like particularly the people who wanted the nomination so i said earlier that little marco is trying to become big marco, he's very quick to tweeting against trump. >> we don't have the luxury specially after eight years of failed russian policy to come to the table and pretend that we don't need to deal with vladimir putin in some sort of way and i think george w. bush tried it, barack obama tried it. you are to start your administration off at least with an open mind to deal with him and that's, i think, what donald trump is trying to do but he's not getting any grace period to do it.
7:12 am
>> i don't know, he's pretty aggressive. he's going into ukraine and crimea, he's definitely messing up the situation. >> he is. he was allowed to do. >> supporter of iran. we talk about -- >> the withdrawal of american power and influence to the middle east allowed russia to take the ge owe political advantage. >> go back to what mitt romney said, they are the number one adversary at this moment. dagen: are they trying to divide the russia-iranian relationship, clearly? we can agree on that. that's something that is just beginning to play out. >> again, you have to go back to understand the world that barack obama left donald trump. we have weakened relations with russia and iran and china and we need to do something strategic to regain balance of power. >> i don't know how we are dividing russia from iran. the russians are saying that we
7:13 am
are being punitive with regard to iran in the new sanctions regime. >> i think given the relationship they have to say that publicly. in the back of my mind, what if there was something going back channels between united states and russia regarding iran. >> i just don't see up front trump making a clear statement that, you know what, we are not playing here and typically donald trump will let you know when he's not playing and he's negotiating and demanding a better deal. maria participate juan, good to see you. >> pleasure, maria. maria: we will see you on the five, juan. a drug dealer whose sentence was cut short by president obama is now behind bars once again this is the silverado special edition. this is one gorgeous truck. oh, did i say there's only one special edition? because, actually there's 5. aaaahh!! ooohh!! uh!
7:14 am
holy mackerel. wow. nice. strength and style. which one's your favorite? come home with me! it's truck month! find your tag for an average total value over $11,000 on chevy silverado all star editions when you finance through gm financial. find new roads at your local chevy dealer.
7:15 am
7:16 am
maria: a man whose life sentence was commuted by former president barack obama is now behind bars. cheryl: 68-year-old robert gill arrested in texas after police caught him with more than two pounds of cocaine following a high-speed chase. he was freed in 2015 when the obama mechanics released nonviolent federal inmates, gill had been in prison since 1990 for cocaine and heroin distribution, the man could face up to 40 years in prison.
7:17 am
welshing maserati is known for luxury cars, the auto maker is recalling 50,000 cars and cross-overing to fix two separate problems that could lead to fire. first recall affects 39,000 vehicles an has to do with problem with wiring harness in front of seat and the second could fix leak. women rights top priority these days. a new bunny club is going to open in a hotel a new blocks from time square in new york city, 30 years after the original play boy clubs. another one open in spring in shanghai.
7:18 am
founder opened the first club in chicago in 1960. the hotel in japan has just the shoe for you. the regal royal hotel is selling nine pairs of edible men's shoes. i know. they are made of chocolate. yeah. they are made of chocolate. they look real, don't they? maria: wow. cheryl: those are supposed to be eaten. men size 10. those are also made by, yup, chocolate, maria. maria: an entire shoe of chocolate. looks good. all right. thanks, cheryl. [laughter] maria: coming up, giving children a financial head starts, why it pays to teach children about money early on. getting a modern makeover, new and improved drive-in theater that's putting a spin on the big screen. all next [ alarm clock beeping ]
7:19 am
7:20 am
7:21 am
weather. ♪ [ laughter ] cartoons. wait for it. [ cat screech ] [ laughter ] ♪ [ screaming ] [ laughter ] make everyday awesome with the power of xfinity x1... hi grandma! and the fastest internet. [ girl screaming ] [ laughter ] i've spent my life planting a size-six, n-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves but these days it's phones before forks. they want wifi out here.
7:22 am
but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. ♪ ♪ ♪ maria: welcome back, counting cash with your kids. most financial experts recommend parents talk about money with their children early and often. we are bringing in best-selling author beth, latest book is make your kid a money genius even if you're not. >> great to be here, thank you. maria: a subject that i care about so much. you're right, the kids can grasp
7:23 am
some economic issues by the ripe old age of 3. >> there's a research out of the university of wisconsin, by age three, kids can understand some basic concepts like exchange or things have value, so it's important to start talking really early. maria: talking, it's funny, as a child i remember always wanting to get an ice cream cone and i would hear mr. softy and bells, sure, you can have it but how are you going to pay for it? it sunk in that i had to save my pennies. is that what you're talking about? >> to wait, the whole delay gratification, you have to wait for it and save up for it, we have to wait for birthdays to come, it's important to wait and save. if you really want something, if you get allowance, you can get it but you have to wait for it. maria: dolling out a cash --
7:24 am
>> we never see cash. kids never see cash. maria: that's true. >> magic piece of plastic you swipe it or buy clothes like typing on the computer but we don't go into stores or see cash exchange hands. when people pay with cash, there's something call the pain of paying. it's actually painful to part with dollars, with credit cards we end up paying twice as much because it's just plastic and feels like fake money. giving kids, teenagers cash when they go to the mall even if all friend have credit cards it's a great lesson. maria: it is a great lesson. after a while you keep going to the atm machine, i can just go get it, in concept that you put it in there and it's your money. >> letting them see your job, explaining -- no, i'm a teacher and he brought her to work and this is where i make money and
7:25 am
that pays for your food and clothes and just those brief explanations of little kids are so important. maria: financial lessons for elementary schoolers doing chores, you can get paid for doing extra jobs, work isn't always fun but great to have a job, money isn't everything, be respectful to people and all jobs and getting rich is not a career goal. >> yeah, i remember going at one point to one of my kids, three kids, one of their meet the teacher day with the kids there and one of the kids, you know, what do you want to be in i want to be rich, i want to be rich. let's talk about what we really want to do and some jobs and explaining that to kid. well, mommy makes more than daddy but you can talk about what jobs there are and what the different trade-offs of jobs are. maria: on the cover you have 3 year's old, 5 year's old, excuse me, you can see different ages, what does that mean? should the conversation be changing depending on how old you are? >> whether there are ages 3, starting with pree school up
7:26 am
until age 23 when they are young adults. each chapter has a topic everything from investing, savings, credit cards and debt. maria: what are the big mistakes we make in terms of teaching financial literacy. >> we give them credit cards or joint credit cards too soon and that will not build up their own credit and it could hurt your own credit scores if you give them unauthorized cards if you want to be careful of it. don't explain the basics of a debit card, a lot of my daughter's friends, she's a junior in college and her parents called and said, somebody hacked my account, they didn't figure out, i went out to lunch and meet a friend and oh, yeah, maybe i did spend the money. maria: by the way, all this stuff is important for your child to understand, but how do you make it like it's not eat your vegetables, you have to get the buy-in from your child? >> i talk about that in the book and particularly for young kids they love talking about must be
7:27 am
and even middle schoolers like the angle of i'm going to give you the inside scoop, let's go shopping. why do you think that ran twice as much as the generic, do you think it's really worth it? having those conversations, kids get really into it and even talking about investing, index funds versus single stock. maria: you have to be 17-year-olds to start the conversation, you can't start that at three. [laughter] >> even learning about credit card, i think that's an important one. in middle school this is like a loan. when you use this card you have to pay it off in full, if you don't, it's going to end up in trouble for you and you'll have much more interest on your card. maria: make your child's first words tax cuts, good to see you. thank you so much. the book is make your kid a money genius even if you're not. beth joining us there. we will see you soon. thank you so much. states and companies cannot seem to agree with president trump's travel bran, the solution that
7:28 am
one professor says will preserve national security without calling for a ban, he will join me next. report says macy's is receiving more calls to remove ivanka trump's products from its shelfs, that story back in a mie with every early morning... every late night... and moment away... with every and paycheck... you've earned your medicare. it was a deal that was made long ago, and aarp believes it should be honored. thankfully, president trump does too. "i am going to protect and save your social security and your medicare. you made a deal a long time ago." now, it's congress' turn. tell them to protect medicare. afoot and light-hearted i take to the open road.
7:29 am
healthy, free, the world before me, the long brown path before me leading wherever i choose. the east and the west are mine. the north and the south are mine. all seems beautiful to me. companies across the state are york sgrowing the economy,otion. with the help of the lowest taxes in decades, a talented workforce, and world-class innovations. like in plattsburgh, where the most advanced transportation is already en route. and in corning, where the future is materializing. let us help grow your company's tomorrow - today at
7:30 am
.. it is tuesday correctly presented. top stories right now. 7:30 a.m. on the east coast.
7:31 am
as the legal fight over the immigration debate rages on, both sides are squaring off in appeals court tonight. >> allies very clear on this. huge discretion to protect the american people and the nation's institution with respect to who can come into this country. broad discretion to do it's to do within the nations best interest and we feel very confident on this matter. maria: one law professor has his own solution to the debate. why he wants refugees with suspected terror ties to wear gps trackers. another major retailer under pressure to drop the first daughter. stop selling ivanka trumps clothing line. millennial's pay enough. how nordstrom's new focus on the customer experience is helping revamp the 100-year-old retailer. a massive dog food recall hitting 15 states paid what you need to know before you feed your beloved pet today.
7:32 am
talk about cabin fever. the longest light touches down in new zealand. would you buy a ticket? it's staggering that 10 passengers spending the year coming up. features indicate a higher opening for broader averages. up 70 points on the dow jones industrial average. nasdaq, s&p 500. the eurozone looking good. up about two thirds of 1% on the ft 100. in asia overnight, stocks little changed largely to the downside as you see there. nikkei average one third of 1% in japan. let's all go to the movie is to the movies. the drive-in theater there looks to bring the classic movie experience indoors. the legal battle over president trams travel ban the lawyers for the department of justice are set to square off in front of the ninth circuit appeals court this evening. one law professor going for a different solution to balance the national security interests at stake. george washington university law
7:33 am
school professor is proposing that refugees are suspect to ties to terror wear gps trackers until the travel ban itself. he joins me right now. thanks for joining us. >> good morning. what i'm suggesting is the president and is likely to be tied up in court for weeks, perhaps months before the supreme court finally gets behind constitutional issues and it's possible they may say he doesn't have this power. in both cases, if he can them, it's a lot easier to follow the lead of germany, what norway's no-caps said. requiring these people to where ankle bracelet that allow us to track than 24 hours a day. it's inexpensive, effect did in germany was convinced because they have somebody, they couldn't track them and he engaged in what they called the christmas market massacre.
7:34 am
maria: given the extreme betting going on right now and this heated debate over the immigration story right now. why would we then let him anybody that has ties to terrorism. forget about the ankle bracelet. we would let them in, right? >> that is what trump is trying to do. if he succeeds we don't have to worry about ankle bracelets. as you said before, the case is tied up with a temporary restraining order. that continues for weeks or months during which. these people will be coming in. it is certainly possible the supreme court will eventually say no you can't ban people from select countries. in those situations they will come in rather than say okay we will take the risk. we can't possibly track hundreds of thousands of you. do it the immigration service is already doing, what most states do, how for more ankle monitors. we contract than 24 hours.
7:35 am
maria: professor, rather than taking this step as far as many gps devices, why not just heightened the vetting of these people who want to come into the united states? why not tighten that up in a way that's even one suggestion for the trump administration moved to put the travel ban in place that they should've started with that. it's increased vetting. >> well, that is what obama tried. trump and his people feel it is a work. a number of other countries have had vetting. the people come in anyway. the problem for many of the countries which are targeted is that their record-keeping governments are so bad we can't do very affect this. so in situations where there is any doubt, rather than letting them in and taking the risk that one out of 10,000 or 1000 or 100 terrorist contract than 24 hours a day.
7:36 am
we could get alert if they go to places and not provide a much greater extra level of security and simply trying to revamp the vetting. by the way, it would take a long time. we can put ankle tracking bracelets on his people in a week. trading do you know there would be cases filed immediately. >> just to be clear, >> again is much less intrusive -- i'm sorry, ankle bracelets are much less intrusive than a total ban. so this to me -- you can't ban anybody and those who say were going to let everybody in. >> there is no total ban. there's a temporary suspension of allowing people from certain countries where terror is a hot
7:37 am
commodity. >> there's a total ban for a period of 90 to 100 days. whether or not that will continue and can do it permanently we don't know. >> are you suggesting anyone who comes in via the syrian refugee program have been ankle bracelet? if we all agree the current state of vetting is not strong enough, what to do with this criteria off for a potential terrorist? by your definition can you suggest anyone who comes in through this program will likely get a gps device, no? >> no, sir. if the trump administration is not permitted by the courts temporarily or permanently to ban people that they think shouldn't come into the country, making it very least require them to wear ankle tracking bracelets. exactly who would fall into that category would be determined by experts, not you come in near the chorus. maria: let me ask you this bit of the 24,000 immigrants and
7:38 am
prices, alternatives to detention program for the 6320 have devices. how are those immigrants placed in a group requiring gps tracking, do you know? >> now, i don't know the numbers. maria: okay, so in other words there is a population that has these gps devices. >> that is right. and the idea here is we are already using this. stacy's gps tracking. the customs service uses it. the administration present enough of a danger, but the courts say no you can't ban whether that is temporary as it is now for a permanent, which is what the trump administration will be going. >> was supposed the current court order from seattle and trump would resort to a policy like this. is this something that each
7:39 am
entry point making determinations? you are good. only five years old. who determines this. how does this work? >> i assumed they would be broad guidelines and he wouldn't put trackers on 5-year-old kids for 8-year-old women. though it refers security people to determine and they would be some discretion obviously it will be called the ports of entry as to who would wear one and you would not. those are the details. the bottom line if you can't stop people from coming in, at very least you should require that they were bracelet so that they can be tracked. it's simple. the details are something you and i can't work out on a television show. maria: we believe that they there. a lot of constitutional right that we have to talk about as well regarding this plan. good to have you on the program.
7:40 am
coming up, and they plan to the big screen. book back on the vintage pastime. commemorating a landmark in the air. how long passengers spend time or the longest flight ever. your insurance company won't replace the full value of your totaled new car. the guy says, "you picked the wrong insurance plan." no, i picked the wrong insurance company. with new car replacement™, we'll replace the full value of your car plus depreciation. liberty mutual insurance. wheyou wantve somto protect it.e, at legalzoom, our network of attorneys can help you every step of the way. with an estate plan including wills or a living trust that grows along with you and your family. legalzoom. legal help is here.
7:41 am
7:42 am
7:43 am
maria: welcome back at a major recall of a popular dog food. cheryl casone with that story. hunk of beef dog food after five dogs got sick. one died after eating the food. the recall is being done out of an abundance of caution. the food was sold in 15 states.
7:44 am
not sure how it ended up in the food. the ventures has terminated its relationship with her supplier. qatar airways with those longest commercial airline flight between doha, qatar and new zealand. flight time 16 hours 10 minutes. the return scheduled for 17 hours 30 minutes because of the headwind issue. qatar used in a spelling triple on that route. facebook and google are teaming up to fight fake news in france as a country gets ready for his presidential election. they join other news organizations to launch a fact checking tool to uncover fake news. facebook coordinate with a a french news organizations as love and rely on users to point out fake news and of course the partner organization will fact check all of those stories. we've seen this happen in the u.s. facebook also working against fake news in germany right now.
7:45 am
and they are essential to our planet to build a massive indoor drive-in movie theater in nashville. it is going to have the largest non-imax screen in north america. also a lot of good food, burgers and milkshakes are. drive-in theaters popular in the 50s and 60s. maybe even 70s. quite a project. >> i like the idea. >> back to the 60s. sounds romantic. trade to google and apple. they spoke rather. >> i think it will really come down to how smart can they make the technology. i hope twitter is watching because they've had a bigger problem than google and facebook. dagen: facebook was horrible. trained to twitter is pretty bad too.
7:46 am
dagen: just saw so many articles. ultimately it's up to the individual. stop posting and sharing articles. they smell bad, they are bad. >> to blame it on the algorithm. they are suggesting somehow it got through another sleazy some to sort some of this stuff out. dagen: the algorithm was based more on sharing and conversation rather than actually the source. they just changed it. >> the folks putting this stuff during the honda manipulate algorithms here trust me. they know how to do that really well. it's a matter of figuring that out and fixing it. maria: we will take a short
7:47 am
break. maria: how nordstrom is used in a fresh perspective to face off with the amazon. back in a moment. ♪ where do you spend the most time sitting? your couch? your car? what about your office? all that time spent in a chair has made sitting the new smoking. because your body was built for more than sitting. it was built to move.
7:48 am
and varidesk was built to help get you moving. varidesk arrives fully assembled. instantly converts your current desk into a height adjustable standing desk. effortlessly raises and lowers. and transforms your workspace into a healthier more productive environment. varidesk work elevated. won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. and if you have more than one liberty mutual policy, you qualify for a multi-policy discount, saving you money on your car and home coverage. call for a free quote today. liberty stands with you™. liberty mutual insurance.
7:49 am
7:50 am
maria: welcome back. industry facing headwind come especially competition like e-commerce giants. nordstrom is in the mind that of the millennial to boost sales. this is a 100-year-old retailer focused on the customer
7:51 am
experience. germany right now now is the chief research officer. good to see you. what is nordstrom doing? >> nordstrom getting on board with what most retailer should have been doing five years ago which is listening to our consumer. nordstrom has a hand on how the consumer spends. they also had dismay machine sales. they realize quickly we have to innovate. the best way to do that is to make sure it not only thei products online that kind of pay for what they want to get more political, which is to -- you saw what happened with ivanka trump, get rid of merchandise based on a protest online and really acclimate themselves. train to the stock has really come down in the last couple days in terms of what the impact is bad.
7:52 am
i want to ask you about this whole ivanka trump story. this made perfect sense. what retailer would listen to its customers and act accordingly? abercrombie and fitch testing different things. >> you'd be surprised. it has taken them seven years in order to understand what the customer wants. they really had to do with revenues diminishing. they finally said maybe we should listen to what our customers have been paid on the period really focused on doing my resource. they had these gargantuan stories where they overloaded on their product. no one was purchasing it. they have of this overstuffed. so what they are doing is making my first is to go ahead, try and merchandise and have the mercator experience. these millennial wanted more specific experience when they go shopping. back in the day when i was going to the going to the mall it was mass market. you go get whatever you want, people looked the same.
7:53 am
now it is very much tailored to the individual. maria: earlier we were talking about nordstrom getting political. does that work? let's talk about macy's getting pressured to take ivanka trump off the shelf. >> let's go back a little bit. macy's took trump products off the shelves. this is right when he was saying contentious things during the election about mexicans on the campaign trail. they wanted to not seeing political. terry lundgren, ceo and chairman said heather clinton had a line out from the handbags that they would take those off the shelves. they didn't want to become political. as for nordstrom and other retailers follow in suit said had everything everything to do with sales. her product with a living, therefore every year they take 10% off the shelves.
7:54 am
what we have to ask then, was it a political move? maria: at what backlash? in this political environment, half the country voted for donald trump. is it going to backlash if bases takes her products off? >> is a free country. you are free to buy whatever you want. however, executive retailers to target the consumer. if you know what the consumer wants to bag him a target that consumer. the rest of the country voted for them. therefore they should buy accordingly. what's to say another people won't click on another retailer. the stories they didn't have the christ this word in. a lot of people going in the stories for whatever reason. drink it how would you characterize the brick and mortars sort of trying to catch up? >> basically the stories that
7:55 am
have focused on e-commerce for the last four years are the ones that will be succeeding. you see it all across the country. i just wanted to be cbg store. they are liquidating 70% off because 150 stores are closing. that is happening across the country. we are seeing now with macy's, jcpenney and sears, for example. there was a big winner for the holiday. amazon is the juggernaut. it is the retailer retailers need to go against. >> whether it's e-commerce or original content or anything else. they are taking market share is from a whole host of industries. back to this whole idea getting political, did it work for macy's when it took donald trump policies off the shelves saying we don't want to be the middle of this. did it work for them?
7:56 am
>> they've had diminishing same-store sales. i didn't have that much of an impact. they were trying to be -- they were trained to be brand diagnostic, which i think in some ways it helps them. just in terms of a publicity standpoint. but in terms of sales, no. macy's has bigger problems other than the fact they sell products with the trump name on it or any political name. they need to figure out what they were filling in, how it resonates and go out there and generate those sales. maria: really good point. good to see you. cook like appropriate celebrity chef chris mentos assertiveness with the luscious recipes from his new book share. plus, taxes with majority leader kevin mccarthy. back in a moment. ♪
7:57 am
did you know 90% of couples disagree on mattress firmness? fortunately there's a bed where you both get what you want every night. enter sleep number and the ultimate sleep number event, going on now. sleepiq technology tells you how well you slept and what adjustments you can make. she likes the bed soft. he's more hardcore. so your sleep goes from good to great to wow! only at a sleep number store. and right now save 50% on the ultimate limited edition bed. go to for a store near you.
7:58 am
[he has a new business teaching lessons. rodney wanted to know how his business was doing... he got quickbooks. it organizes all his accounts, so he knows where he stands. ahhh...that's a profit. way to grow, rodney! visit
7:59 am
maria: welcome back to tuesday morning. i maria bartiromo. tuesday, figure seven. top stories right now. 8:00 a.m. on the east coast. president trumps travel ban. or argument today with the administration malarkey. the president does have the
8:00 am
authority citing national security. the bottle limit on capitol hill. a final vote for betsy devos in the next few hours. democrats doing everything they can to derail it. they been up all night train to derail her confirmation. obama karen that support. trump administration quickly taking measures to roll back president obama signature law. i'd replace it is becoming more complicated. >> many moving parts here. you've seen that in the first two weeks. he's going to continue to do that. repealing on replacing obamacare is a big piece of that. for me to work on the timeline as well, but we are. maria: a closer look at the delay timeline. doc frank takes a look at the rule. we've got the details there. what are the implications of the legislation. take a look at markets. expecting the industrialist opened up 60 points. nasdaq s&p 500 higher.
8:01 am
your carcass off in early trading. the eurozone averages up across the board, it did at the cac and we are going to look at dx in germany up to 31%. asia overnight. take a look. change largely to the downside. down one third of 1%. a fire in the sky. the unbelievable video of the meteor and the midwest. we've got the pictures for you to prove it. joining me to talk about it, fox business out for dagen mcdowell, michael bloch and republican strategist fox news contributor tony say it. great show so far. dagen: so much to talk about always. president trump is tweeting. as the show rolls on. maria: earlier he was tweeting i don't know putin.
8:02 am
dagen: just keeping up to date. maria: on a talk about policy. during a conversation if house majority leader kevin mccarthy. we'll talk with congressman coming out. austin pulls bs here. celebrity chef and a host of barney company -- "varney & company," stuart varney sickness. the legal battle heating up over president trumps travel ban. arguments on both sides later today. blake burman with the latest. reporter: good morning to you. arguments expected later this evening in san francisco, california. i'm now at the ninth circuit court of appeals. 30 minutes on each side. on the one hand, they are arguing that if the president's executive order is reinstated, they would unleash chaos. on the other side, government lawyers in part of their art
8:03 am
event see basically washington state doesn't have any standing in this case to begin with. here's what they wrote in their briefing filed last night. it is well settled that a state? authority to sue at the representative of the defense to protect them from the operation of federal law. the trump administration is also arguing that it has ground based on legal merit. >> we are confident we will prevail. we know the ninth circuit is tough. but as you say, presidents have very broad authority, but also the duty and responsibility to keep their nations dates and that is the president trump is trying to effectuate here. reporter: the president weighed in with a tweaked last night. quoting from the president. the threat of radical islamic terrorism is very real. look at what happened in the middle east. court must act fast. it is possible that a ruling in california come at some point later in the evening and it's
8:04 am
also entirely possible. and makes its way here to d.c. maria: will be watching that. blake irvin at the white house. california congressman house majority leader kevin mccarthy. good to see you. thanks for joining us. >> thanks for having me on the show. maria: what are your thoughts on this court battle over president trumps travel order? >> regardless how people feel about it, the president has the authority and right to do it. this is a pause. there's been a lot of confusion about exact what this is. this is based upon two bills that passed the house upper vetoproof. it is looking at making sure the vetting process is right on most countries that have some concern with. i think there's been a little blow out of proportion of really what it is. i think once you have homeland security, general kelly, general kelley in place has all been worked out and verified of what is happening.
8:05 am
maria: so at the end of the day, the president will prevail but this travel ban for a temporary ban? >> i think it's very clear regardless of where you stand on the issue the president has thes doing. so at the court he will prevail in the end. from california i note the ninth circuit is. it's a difficult court to win anything in. we'll see what happens. maria: let me switch gears and ask you about tax reform. i can go back to the beginning of president trumps campaign when he was just campaigning to get the highest office in the land. but he was stressing tax reform. i've run into a number of times and we understand the opportunity we had in terms of tax reform and we will not let this opportunity pass. stephen mnuchin says we'll get this done within 100 days when he was first named this trumps the treasury secretary. now we are not hearing a lot about it in the tax reform
8:06 am
packages and pushed off later in 2017. what happened? >> no, nothing is being pushed out. we have the 200 day plan. we started with regulation reform. that's been a two-part plan. changing the structure of how you do regulations. now you are watching congressional review act. those are a number of those who passed with a simple majority in the house and senate. five of those last week aired another three this week. and then we are moving on to repealing on replacing obamacare within this month and next month. then you go into tax reform. after you've done health care, it changes the baseline. you can expand where you do tax reform. if you want to solve the majority of problems in america, you've got to get growth in america. america creates the tax system, gives every incentive for companies not to be in america.
8:07 am
the highest corporate rate. you make money outside of america. incentive not to bring it back. incentive also to import, not to export. the rest of the country taxes different than america. they punish our products. take a simple situation. think of a product like a harley david motorcycle. it is built in america intact. it is taxed when it entered that country and it competes against their products. they take a bmw motorcycle. it gets repeated, cut into america and its competing against our product, but it has an advantage. we need to look at it differently. it's a complete overhaul when you lower the corporate rate to 20, we take seven rates and come down to three.
8:08 am
we simplify the tax code so everybody everybody understands and has a bread onto a postcard and then we talk about the border adjustment tax for you go through. that would create more incentive to be made in america, put in a territorial tax, which would make the product here. but also around the world. you wouldn't worry about repatriation. it would put us more in sync, make us more competitive and bring a back to this country. maria: is the border adjustment tax in some eyes to catch up to the rest of the world? the rest of the world they see their border adjustment tax rate tax rate at the border. >> exact way. we are one of the few countries that does not tax this way. it is simply that version. if you go to a vat tax, that just expands government. border adjustment of the better way to do it.
8:09 am
maria: let me ask you to spirit the border adjustment tax was not talked about in any way. i'm reading a political story right now and there's a quote for some insane the biggest roadblock is not republicans siding with democrats, that is the border adjustment tax when it issues that is stopping you from moving forward sooner? you have a 200 day plan. but we understand that it looks like within 200 days? even if it's not put into place until later in the year? >> or via, we have put this plan together that we campaigned on before the election. how you go about building his columns. why had he not gone through it at the repealing of obamacare? when you have obamacare, 1400 pages of just the power when it comes to the health and human service secretary. tom price has not even been confirmed yet. democrats have held up more so than many other president has
8:10 am
ever had in the cabinet. we don't even have the power of the mac msn to go through so much that we need to have happened. this is right on pace of what we have planned and laid out to get done in the first year. maria: right on pace with what you expected. do you expect the tax reform package to be richer back into january 1, 17? >> we will go back through. it starts in the house. remember the constitution. article i, section seven. all tax to fund starts in the house. the ways and means have been working on the phone before and it will go to the senate. you have to do health care first and then tax reform. and then we would do infrastructure after that. >> the important regulation rollback. i read the op-ed last night about the laws that were stifling business.
8:11 am
i will ask you that as well as taxes is what's most important is both moving the needle on growth. but specific regulations that you will rollback will actually unleash business. >> when i say for regulation, business faster than government will not continue to impose upon them. we put at the very beginning of this year the ransacked, which means no major ruling can be an act it. a new regulation that cost more than $100 billion without congress. you wonder how many of those have been. their 82 every year for the last five years imposed upon business. so that made to at least give breathing room for the people that have the power. so you've restructure how it would come about. now we are able to look at from a congressional review act from the last 60 legislative days but it's gone through.
8:12 am
they have a buffer wrote that we just removed from the house last week, which would've taken 64% of all the reserves or the coal industry, which would've taken away 40,000 to 70,000 jobs in america, which never would've become energy independent. think of the areas wiped out with the obama administration from west virginia to ohio. those areas that have never voted republican before the switch because of the economic regulation imposed upon it. you are watching the stock market go up at the idea of government will be different. not imposing so much upon business for regulation that they will have a voice. there will be some common sense. tax reform has to be an overall tax reform. individual is something that you can be competitive. a competitive tax plan that is going to be progrowth. you have a competitive corporate rate, but at the same time they
8:13 am
will be able to be fair and simple. you can have have it on a postcard. maria: let me ask you about the obamacare continuing to dispatch to the conversation. this seems to be a growing divide about what comes after this repeal. over the weekend, congressman tom mcclintock had to be escorted by police after a town hall meeting after facing a backlash over obamacare without replacement in place. what are you hearing from constituents affecting progress are making changes? how do you get past that? >> what we see as the organization, the political organization. you can go onto the website. it is a democrat organization trained to go in and intimidate individuals that have any repeal of obamacare. the way i look at it is if we did not do this with collapse upon it.
8:14 am
if you look at the simple facts, 23 co-ops created under obamacare even more than $2 billion. 18 authority collapsed. there's roughly 3000 counties in america. 1022 counties that only have one insurance plan. it's collapsing upon it now. we have to transform that and we will be able to see it start moving. maria: i know you have a lot of airplay. our viewers are hoping to get it all done. thanks for joining us this morning. >> we will keep our promise. maria: congressmen kevin mccarthy. we will be right back. holy mackerel. wow. nice. strength and style. which one's your favorite? come home with me! it's truck month! find your tag for an average total value over $11,000 on chevy silverado all star editions when you finance through gm financial. find new roads at your local chevy dealer.
8:15 am
8:16 am
8:17 am
maria: welcome back to results from general motors shocked at some of the details. reporter: gm shares up about 1.5% in the premarket. the automaker's first resort at patient. brought tales, suvs drove the company to their second straight record operating profit for the full year. there is this outbreak there. shares of the retailer down more than 7%. disappointed sales for the last quarter. quicker than did guidance urging that company in the premarket. in the headlines warning, missouri now the nation's 28 right work state. governor eric reagan signed legislation yesterday. this law bans mandatory union fees and dues. the midwest once a stronghold for unions and this is the latest sign and how republican
8:18 am
gave at the same level. rod impact on policy. intercontinental hotels group confirming a data breach for the payment card use that 12 of his hotels. last month the company said it is investigating a possible breach. intercontinental has cards used at restaurants and bars. at the 12 hotels between august and december were actually acted. hotels include the intercontinental san francisco in the holiday inn resort in aruba. more than 200 people are seeing a big fireball in the sky. there is the video in the midwest yesterday morning. the event captured on dash cam video from a police officer's car. wisconsin, illinois, indiana, michigan, even canada. the american meteor society with the meteor that probably went into lake michigan. one eyewitness says it reminded
8:19 am
her of the northern light, but it acted like a meteor. some reports said there was a loud booming sound in all of this. understandably. maria: got, i would say. senate democrats pick in the last and write out education secretary nominee betsy devos. if they delay president trumps tax relief for americans, -- thy are right on track. back in a minute. bp engineers use robotic ultrasound technology, so they can detect and repair corrosion before it ever becomes a problem. because safety is never being satisfied. and always working to be better.
8:20 am
because safety is never being satisfied. withevery late night...g... and moment away... with every and paycheck... you've earned your medicare. it was a deal that was made long ago, and aarp believes it should be honored. thankfully, president trump does too. "i am going to protect and save your social security and your medicare. you made a deal a long time ago." now, it's congress' turn. tell them to protect medicare.
8:21 am
companies across the state are york sgrowing the economy,otion. with the help of the lowest taxes in decades, a talented workforce, and world-class innovations. like in plattsburgh, where the most advanced transportation is already en route. and in corning, where the future is materializing. let us help grow your company's tomorrow - today at i was thinking around 70. to and before that?re? you mean after that? no, i'm talking before that. do you have things you want to do before you retire? i'd really like to run with the bulls. wow. hope you're fast. i am. get a portfolio that works for you now and as your needs change with investment management services. won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. and if you have more than one liberty mutual policy,
8:22 am
you qualify for a multi-policy discount, saving you money on your car and home coverage. call for a free quote today. liberty stands with you™. liberty mutual insurance. maria: this is an incredible shot. senate democrats still on the floor. they've been there all night in opposition to the right to protest education secretary nominee at the devos.
8:23 am
senator chuck schumer and cory booker spoke out yesterday. look. >> in my mind, she is the least qualified nominee in an historically unqualified cabinet. >> her agenda means fewer resources and worst schools. >> in opposition to this nomination because i believe that we need a champion. maria: join us now is miller west high school history teacher in 2016 nebraska teacher of the year, 10 lawyers. thanks for joining us. >> thanks for having us. maria: what is your reaction to senator action in the pushback of betsy devos? >> we are happy we have a break on capitol hill for all of the efforts around the country to
8:24 am
try to vote for confirmation secretary of education. maria: why do you oppose her? >> you heard in the quote she is unqualified. imagine if you watch the confirmation hearing at pocono public interview, let alone the superintendent of local school district. she wouldn't even be getting a call back right now. maria: what specifically did she say that unnerved you? >> it was a number of different questions. lack of understanding about federal law. the idea in particular constantly deferring to the question same dataset to the states. this is a world that you need somebody who is in the beta does education law and education policy. betsy devos is passionate about education is going to deny god. advocating from congress or from the statehouse. but she? the education. she is no degree in education. she's never worked in education.
8:25 am
as teachers, we need confidence that she has the knowledge and expertise in those would affect to be in the classroom. that way when they wrote something, they know with confidence that will receive with us. maria: do you worry she is going to mess a teachers union's tenure and what the unions want the rest of their lives? >> admin, tenure varies from state to state. at the mandatory right to a hearing and try to be dismissed. my greater concern is the fact that federal funding of programs and students in poverty. they are no longer going to get done. >> you opened up saying she doesn't have knowledge but now you get to another point that kids can be left behind. is that at the crux of this?
8:26 am
>> that's where the experience is the most dangerous. >> she's not going to mandate anything about school choice. the reality is even no federal money accounts for 9%. money on education, school districts chased those dollars. my district since 2010, was cut 40 teachers even though we've added kids to our population. if they have been a block grant program, that could unfortunately push districts down an avenue that is not found for kids. i want to quickly say we increase spending in the last generation by three times. we have the lowest student to teacher ratio we've ever had in our history do we still ranked decisively low compared to other
8:27 am
developed countries in our education systems. the students of this country, not the unions suggest to you in like new york and new jersey, public schools often fail as you get hurt. >> there's a couple things i want to say here. if you want to tell me that is hard-core -- maria: why are we so low on the list in terms of education? >> i'm glad you asked that question. the international assessment we used to compare ourselves to other countries come if you look at the breakdown based on the percentage of students that are living in poverty in the school districts. if you only look at schools, there's a 50% in poverty. we go from mid-20s up to 10% or fewer. top are in the world.
8:28 am
it's not an issue of our schools. social economic conditions brought to the table. we continue to increase education funding. image ask yourself this question. to expect the same now as a generation ago in the answer is no. we expect schools to offer a diverse for students to graduate. we have academy programs that give kids a full year head start on college at the school two miles down the road when they graduate with an associates agree along with diploma. these are never even conceived of 20 years ago. so yes, we are spending more in education, but we do it because we provide kids with increased access and opportunity. if you look at the rate, i would say it's money well spent. >> if the kids in a failing school, that's an opportunity for success. thank you for your service. >> shark on the thank you. maria: 10, thank you for joining
8:29 am
us. we'll take a short break. we'll take a look at president trumps timeline on tax reform. plus before plastic. amazon's new grocery stores. the new text is not employee he is back in a minute.
8:30 am
oye... ... rodney and his new business. he teaches lessons to stanley... and that's kind of it right now. but rodney knew just what to do...he got quickbooks. it organizes all his accounts, so he knows where he stands in an instant. ... . visit
8:31 am
>> happy tuesday, welcome back, everybody, i'm maria bartiromo. it's tuesday, february 7th. your top stories right now 8:30 a.m. on the east coast. are tax cuts getting a cut of their own? tax reform takes a back seat to
8:32 am
other top issues on capitol hill. a delay could turn costly for the g.o.p. we just heard from majority leader kevin mccarthy who said the plan is in place. the move comes as a battle over financial reform rages. >> when push comes to shove, donald trump will always put the interests of his pals on wall street over the interests of the american people. maria: the very latest as democrats fight to keep dodd-frank intact. tyson food, alleged chicken price fixing. and forget paper or plastic, amazon's concept brings the technology and bags the employees. and markets this morning looking good. as you can see, dow industrials up 60 points, a third of a percent higher across the major boards. in europe markets are higher.
8:33 am
the cac quarante now negative, and the dax index is off the highs, nonetheless 1/2 a percent. asia, fractional moves, across the board decline. we're dirk up success from cookbooks to hit celebrity shows, and ins and outs of the kitchen. congress is putting tax reform on the back burner and focusing instead on obamacare and the infrastructure plans. despite the practice on the o'reilly factor that americans can expect relief by the end of the year. >> let me get you on the record here, 2017, can americans expect a tax cut? >> i think so, yes, and i think before the end of the year, i would like to say yes. >> okay. maria: joinings right now is former obama economic advisors austan goolsbee, good to see you. >> great to see you again, maria. maria: what's your take on where we are in tax reform. is it a bad idea for republicans in congress it debate this border adjustment tax?
8:34 am
>> i don't think it's a bad idea to debate that. first in the interview, that was the least confident about something that i've seen the new president in some time. so, he asked if we were going to get a tax cut. he said, i think so, i would like to. those are almost declarations that he doesn't want to do it, in my opinion. maria: to be fair. >> what the president wants, he's very confident about. maria: to be fair we just spoke with kevin mccarthy the number two guy in the house who, of course, is working on tax reform along with paul ryan and kevin brady and here is what he told us. >> he basically said, he's got a 200-day plan in place, and that they're on track to deliver a tax reform package later in the year and it will likely be retroactive to january, 2017, basically what he just told us. >> okay, now, so i think what you raised there, what's become
8:35 am
the key issue. republicans in congress want a certain direction on taxes and what we have to see is, does president trump agree with them. you know, president trump tweeted out some kind of negative things about this border adjustment tax, which confused people, i think, because they thought it was his plan. they thought it was the embodiment of his argument that if people moved jobs overseas and tried to ship the products back into the u.s. they'll have to pay a tax. i am afraid that what's going to happen, maria, we're going to get into a discussion about tax reform and as you know, tax reform is really hard to do. and so, that's going to delay this thing for months and that in the end, i think they're just going to cut the rates and leave the system how it is. dagen: wouldn't you agree how slow the economy is growing, we need some sort of juice that doesn't involve the federal reserve and that would be giving people more of their
8:36 am
money back? >> well, depends who the people is. the evidence pretty strong, if you cut high income people's taxes that's not stimulative. dagen: steve mnuchin said that wealthy americans won't get a net tax cut. that won't be where a the lo of -- lot of the money goes. >> that's what steve mnuchin said. if you look at bills in congress we're talking 1 to 2 trillion of corporate tax cuts and the stock tends to be owned by high income people so i don't totally know how to square the circle. he might be right and that would be an interesting development. maria: here is what kevin mccarthy told awes-- us a few minutes ago. >> we have a 200-day plan and we start with regulation reform and you watch that, that's been a two-part plan, a change in structure how you do regulation with the reins act and
8:37 am
congressional review act and a number of bills to pass with a simple majority in house and senate we did five last week, another three this week and then we're moving on to repealing and replace being obamacare, that's moving this month and next month. maria: they've got a clear agenda, austan. >> it does sound like they have a clear agenda. the news worthy thing in that clip though is they move tax reform and tax cutting out of the number one slot, down into the number three slot. so, if what he was just announcing was we're not going to cut taxes until we've repealed and replaced obamacare, i don't know if corporate america knows that because that-- they've got the thing moved into some very far in the future date. >> austan, that depends on your interpretation. i thought you heard a pretty clear plan for 200 days and that as you know, is leading up to the august recess. i don't think it gets done in that window of time.
8:38 am
i don't think it matters how you enumerate it. i thought you brought up a good point cutting taxes for high income people. the corporate tax rate is stimulative for corporations. and we needed to cut from 35% because it's keeping a lot of profit off shore, number one, i wonder if you recall the same thing. number two look how the banks are reacting already to the news they're going to start taking back some of the dodd-frank regulations and they're talking about giving back to shareholders and reinvesting into the economy. aren't these the positive impacts when you reverse bad policy? >> well, i mean, think about what you just said there. take what dodd-frank, carry cohen said they want to repeal the rules of the road that were established after the financial crisis so that banks have more money to lend. but then the first thing you heard announced bass, they don't intend to lend the money. they're going to take the money
8:39 am
and pay it out in dividends to the shareholders of the bank. maria: to be clear, that was the wall street journal. the wall street journal came out. >> shareholders are people. >> that's not using the capital to lend, that's paying out high dividends if you look at the data. >> and-- >> and people who own dividend paying stocks those tend to go high income people, that's not a stimulus, not a job creator. >> lending is up. it's the medium and small banks hurt with dodd-frank. didn't we have concensus lowering the corporate rate even during the obama administration. >> you're saying even during-- i was involved in saying that. maria: how come you weren't able to get it done, austan, how come you weren't able to get it done. >> because when you go in to ask the question, how do you lower the corporate rate, it's not cheap to lower the corporate rate, it costs a lot of money and you lose a lot of revenue, how do you pay for it.
8:40 am
just cutting loopholes is not enough. the reason the rate is higher and we don't collect as much as other countries because we have a narrow base. maria: which is why the border adjustment tax, dagen mcdowell, is-- >> i'm not saying it's a bad idea. it's a very interesting idea. but i think that people need to understand the border adjustment taxen could verts to corporate income tax into a national sales tax. that's what it does. it's a value-added based sales tax, so, there are reasons why you might not want to tax production and instead, tax a nation's consumers, but i don't think the people who supported donald trump understand that that's what the plan is. because if they did, they would be like the retailers, saying, wait, hold on a second, what do you mean you're going to tax consumers instead of companies. dagen: politically it could be like trying to raise a national gas tax which always ends in a
8:41 am
death knell. >> the celebrity match. and a lot of enthusiasm when president trump elected when you saw in the markets, thought hey, he's going to be pragmatic and cut corporate taxes and-- >> i don't think i've heard this much attention focused on tax reform in a lot of years. certainly i didn't hear it during your administration under president obama. i didn't hear this kind of focus about lowering taxes, about moving the needle on economic growth. is fair statement? >> not on growth. the first part, he has made a priority on tax reform and tax cutting. maria: you've got to prioritize it first in order to make it happen. first you have to prioritize it. >> and that's why i think that clip from the house republicans in which they said, yes, we want to get to that in 200
8:42 am
days, but we're going to first repeal and replace obamacare, i think corporate america is going to be very nervous about that 'cause that's the chance that repeal and replace gets extended is pretty high. maria: i don't think they're going to lose this opportunity. i think they're laser focused. they've got the window in the next two years to get stuff done. you wanted to jump in. >> austan, you're worried that tax cuts and reforms would go to paying higher dividends from rich people, that's what i'm hearing from you, what if the tax cuts and deregulation were married with incentive for jobs and infrastructure and things that could help the whole country? is that something that could be done? >> it might be, but what you're describing, all the things you just described cost money so the question is, okay, who is going to pay for that or are you going to blow the deficit up. that's just it. maria: all right. austan, a lot of details that we'll be watching in the coming months.
8:43 am
it's an important moment in time. we appreciate you weighing in as always. you can watch the rest of the bill: o'reilly's exclusive interview with president trump tonight on the o'reilly factor coming up on the fox news channel. this year is shaping up to be another one of surprises from the election to the super bowl. the only thing to expect is the unexpected. plus, a chicken price probe. yep, the sec is opening up an investigation into tyson foods over rigging allegations. fortunately there's a bed where you both get what you want every night. enter sleep number and the ultimate sleep number event, going on now. sleepiq technology tells you how well you slept and what adjustments you can make. she likes the bed soft. he's more hardcore. so your sleep goes from good to great to wow! only at a sleep number store. right now you'll find our queen c2 mattress at $599, save $200. go to for a store near you.
8:44 am
wepidemic before it happens?xt what if technology gave us the power to turn this enemy into an ally? mosquitoes are the ultimate field biologists, taking blood samples from every animal they bite. microsoft and its partners are using smart traps to capture mosquitoes and study the dna they collect. using the microsoft cloud, we can analyze over 100 million pieces of dna in every sample, so we can identify where diseases come from and how they spread. with the cloud, what used to take 30 days now takes 12 hours, and every second counts. if we can detect new viruses before they spread, we may someday prevent outbreaks
8:45 am
before they begin. we must be passionate. we must be bold. and never stop striving in our desire to make an impact.
8:46 am
>> welcome back. 45 minutes away from the opening bell. a look at markets this morning ahead of the open. we're looking at a higher opening for the dow industrials, take look at tyson foods and a new probe by the securities and exchange commission. the agency reportedly investigating the largest meat producing over chicken pricing. tyson is cooperating with that investigation. the stock up nearly 5% over the last year.
8:47 am
amazon reportedly opening a giant supermarket run by robots. the new york post saying the two-story automated grocery store would be staffed by only three human beings. amazon previously denied it was opening the store and shares this morning looking higher. the super bowl continuing a trend of surprises following the 2016 election and the u.k.'s unexpected exit from the european union. "varney & company" host stuart varney. stuart: it's been a year of surprises, maria, brexit, you and i were there on the vote. who thought the brits were going to leave european union, they did. who would have believed at 5, 6, 7:00 eastern time at night that donald trump would win, but he did win. i wasn't at your super bowl party, but i did see tom brady come from behind, what was it,
8:48 am
2:12 left in the third quarter, and he was 25 points down and he comes through to win. i'm not sure where i'm going with this, maria, but it really is the year of surprises. maria: sure is. stuart: who is that gentleman you've got on there who was the architect of obama's economic policy. maria: austan goolsbee. stuart: is he surprised it was such a failure? it's been a decade of surprises. maria: we wanted to get into it. i should have asked him u-surprised what a failure it's been. >> mike. >> espn was posting probabilities, at one point in the third quarter, 99.7 chance the falcons would win and look what happened there. reminds me of the polls with trump, remind me of the polls for brexit, over and over again, everyone's models are getting things wrong in politics and the world and maybe we ought to think about tweaking the models, the
8:49 am
mathematicians and everyone else. stuart: figure out what's going on underneath the surface. something is happening in the western world, keeps popping up in surprises all over the place, i don't know why i included the super bowl in the list of surprises, but nothing to do with politics. dagen: a dear friend of mine reminded me that the odds of a tom brady cry were 100%. [laughter] >> here is what i'm getting at. you've got to be live action news in this day and age, especially in this live action presidency, that's what you are, maria, that's what we are, and i think that's why we're so incredibly successful. maria: you've got to be on your game for sure. see you in ten minutes. stuart: you will. maria: "varney & company" begins at 9 a.m. eastern right after mornings with maria and join stuart and his guest lineup. chris santos is dishing up something for fans.
8:50 am
we'll talk with the cook and what's new at his restaurants. back in a moment. your insurance company
8:51 am
won't replace the full value of your totaled new car. the guy says you picked the wrong insurance plan. no, i picked the wrong insurance company. with liberty mutual new car replacement™, you won't have to worry about replacing your car because you'll get the full value back including depreciation. and if you have more than one liberty mutual policy, you qualify for a multi-policy discount, saving you money on your car and home coverage. call for a free quote today. liberty stands with you™. liberty mutual insurance.
8:52 am
8:53 am
>> that was a clip from food network's hit show chopped. joining me know you is chris santos, one of the stars of the show. congratulations, chris. >> thank you very much. maria: good to see you. your first cookbook is called share. delicious and surprising recipes to pass around your table. congratulations on the book. >> thank you. maria: by the end of this segment. i want to give our viewers something.
8:54 am
like a recipe or your favorite recipe. . tell me how the business is going right now? you've got your tv show, you've got today, your new book. >> yeah, there's a lot stuff going on. it's been a 20-year process to become an overnight success. you know, my first restaurant i opened here in new york city in 1999 was, you know, 25 seats, didn't go very well for me. since there's been a lot of trial and error, but it's start to go come together. maria: that's what i wanted to talk to you about. we talk a lot about small business on the show. >> sure. maria: and you opened, you are a small business owner and you opened stanton social restaurant in 2005. >> right. maria: as a partner and chef. you've expanded it and everybody knows this restaurant at this point. that. through how you did a lot of our viewers out there may want to start their own business and you've had success doing it. >> i don't know that it applies to all businesses, but i would say follow your instincts, you know. maria: prior to that, i worked, and tried to do several different things and worked
8:55 am
with other people and tended to cook through other people's vision and cook for them. once we started cooking what i liked to eat, everything start today fall into place and the approach we use, which is a communal dining experience, everything is kind of served, you know, family style, i think has resonated with diners and people eating more and more as well. maria: i was going to say that. your restaurants have a beauty and feel and look. and it's attached to a pawn shop. >> that's correct. maria: it was by design. >> it was by design, we didn't know it was a relevant ref into you center. we thought a conversation piece, but it's a jewelry inspired shop. maria: i love it. i have to talk about what you brought here today. the aroma of what we're sitting in front of is incredible. what have you brought and where can our viewers see this food? >> sure, book comes out today. it's an incredibly exciting day and thank you for letting me come to speak about it.
8:56 am
i basically take the restaurants on the restaurant menus the last 15 years and reengineered them for the home cook, but really just tried to celebrate the most popular dishes over the years at all of my restaurant. maria: this is grilled cheese and tomato soup. >> a riff on-- i'm a simple guy, i like going to diners getting grilled cheese sandwich with tomato soup, and always bacon on the grilled cheese. we make it with cheeses and bacon and in the soup spoon withomato soup. maria: sounds deliciou >> and what is this? >> it's a chicken, with a chill sauce and little aftvacado. maria: is that egg on the-- >> it's 50% spagatini and pesto and break the yolk into it. maria: give me an easy recipe for the viewers that they could find and share. >> i would say the shrimp on
8:57 am
the cover and on the back cover. it's simple marinaded shrimp. serve it hot or cold and roasted corner, tomatillos. maria: 30 minute preparation? >> yes. maria: you're saute'ing it together? >> typically on the grill in the summer. maria: and lobster roll. >> i'm in new england. and how about those patriots? don: yes, congratulations, good stuff. >> thank you. maria: chris, good to have you on the show today. we'll watch you on chopped. >> thank you. maria: chris santos joining us, thanks. because, actually there's 5. aaaahh!! ooohh!! uh! holy mackerel. wow. nice. strength and style. which one's your favorite? come home with me! it's truck month! find your tag for an average total value over $11,000 on chevy silverado all star editions when you finance through gm financial.
8:58 am
find new roads at your local chevy dealer. juswho own them,ople every business is different. but every one of those businesses will need legal help as they age and grow. whether it be help starting your business, vendor contracts or employment agreements. legalzoom's network of attorneys can help you every step of the way so you can focus on what you do. we'll handle the legal stuff that comes up along the way. legalzoom. legal help is here.
8:59 am
9:00 am
>> my thanks to everybody. "varney & company" begins right now. stuart, over to you. >> thanks. it's the left's tactic, it's clear, oppose and obstruct, that's the strategy, stop everything. you can see it at work today. good morning, everyone. right now in the senate, democrats are delaying the confirmation of betsy devos for education secretary. they'll talk all night and at noon and vice-president will break the tie. that's delay. in court, the left is delaying and trying to reverse president trump's temporary travel restrictions. the 9th court of appeals, his arguments today, the president may not get his way on this one. hollywood, the media, the left.


info Stream Only

Uploaded by TV Archive on