tv After the Bell FOX Business September 30, 2019 4:00pm-5:01pm EDT
wealth pop with china relate not too much. liz: scott mcnealy says the rate of change is fast. si rings] sarge, thank you so much. the markets close higher. that is all you need to know, the last day of the month and the quarter. as always if you're here this is the "claman countdown." melissa: investors shrug off impeachment fears. pushed higher by apple, ibm, unitedhealth, s&p 500, nasdaq closing in positive territory for the first first time in three days. throughout the hour we're keeping you and your wallet in mind. we're invested in you. i'm melissa francis. connell: i'm connell mcshane. welcome to "after the bell." first though here is what is new at this hour. the white house fighting back. president trump demanding to
meet the whistle blow and his sources. why critics fear the ongoing fight could stall some of the president's agenda. we're live at the white house with the latest. fair, pay-to-play. top college athletes in california on the bring of potentially making a profit before going pro. we'll talk to congressman anthony gonzalez a former colts wide receiver what the move could mean for the business of college sports. deep discounts on luxury living. mortgage rates dropping but so are the value of high-end homes. we're taking you inside one of those lavish homes later this hour. melissa: it is pretty. fox business team coverage. keeping track of today's top stories. deirdre bolton on the floor of the new york stock exchange, blake burman at white house, edward lawrence is live in d.c. and phil flynn watching oil from the cme. deirdre, kick it off.
>> the dow closed in the green. if you look at apple was the standout star. jpmorgan raising a price target to 20% higher than where apple closed on friday, saying believe it or not it expects apple to do very well with the latest round of iphone models. they will see strong sales. on the dow, that is what you had there. as you've been alluding to, last day of september, last day of the third quarter for september, the dow, s&p 500, nasdaq all clearly higher for this ninth month. we'll take that. if you look on a quarterly basis the dow and s&p 500 clearly up for the quarter. nasdaq just ever so slightly, skating along the unchanged line. we'll see where it settles. if you want to know where you stand out stocks are, take a nice step back. markets from 30,000 feet, apple not surprisingly a standout stock. strength in proctor & gamble, consumer staples, consumer play, another one, nike.
look at ones that hurt the dow. pfizer, unh, two health cares under a bit of pressure there and also cisco. quick snapshot for you guys. back to you. melissa: deirdre, thank you. connell: to washington, firing back, president trump leveling new accusations today as democrats doubling down on impeachment. blake burman at the white house with latest from there. blake? reporter: president trump and those around him are continuing to question whether the whistleblower should be considered that at all. the president today, for example, taking to twitter to use the hashtag fake whistleblower. he sent out the following tweet at one point earlier today, the fake whistleblower complaint is not holding up. he ends the tweet the whistleblower knew almost nothing. his secondhand description of the call is a fraud. over the weekend the president tweeted he wants to meet the whistleblower, whoever gave them their information. after swearing in the new labor secretary, gene scalia earlier this afternoon the president suggested that there is an
effort to determine who this whistleblower might be. listen. >> we're trying to find out about a whistleblower. we have a whistleblower that reports things that were incorrect. as you know, you probably now have figured it out, the statement i made to the president of ukraine, a good man a nice man, new, was perfect. it wasser tech. reporter: condition nell, melissa, news within the last 10 to 12 minutes, rudy giuliani, personal attorney, one of them for president trump has just been subpoenaed by top democrats up on capitol hill for documents relating to ukraine. earlier today before all of this happened giuliani sat down with maria bartiromo and maria asked him what would happen if democrats want him to testify? and he gave this response right here. >> i can't answer that question right now. that is a very, very difficult question for a lawyer. despite the fact that the swamp media doesn't accept it, even
president trump has constitutional rights called the right to counsel, attorney/client privilege, attorney/client work product, things like that. reporter: now giuliani brought into the forefront of all of this. senate majority leader mitch mcconnell said today if the house if the house were to pass articles of impeachment he would quote-unquote have no choice but to take it up in the senate. connell, melissa, back to you. connell: giuliani subpoenaed for documents? reporter: for documents. connell: not subpoenaed yet. reporter: for documents. the question whether or not he would testify. a lot of issues with giuliani. connell: blake burman at the white house. melissa: we have scott martin, a fox news contributor and deion. looking at market here we setted up about 96 points t had been 101 at the close there. doesn't seem like investors are
terribly worried what is going on in washington. what is your take? >> did he didn't seem concerned initially. we got a selloff but wasn't a 2, 3% selloff in times like a constitutional crisis which is what some folks say we're looking at here. i think the market doesn't see this as against president trump is going anywhere. they think it could slow down the agenda, tax cuts, deregulation. things the market did like. but they don't think it will be derailed. the chances of him being put out of the white house is very low. the senate made up of majority republicans. most of them will have the president's back. melissa: scott, for our audience what impact does it have on the economy and markets? we're looking ahead to getting tomorrow ism manufacturing report. you want to know, does this slow down confidence? does it slow down execution? what are your thoughts? >> it probably does, melissa and that was already going on before we had the impeachment talk
because of the china tariff wars. deon is right. it probably down portend outright removal of president trump as far as developments but doesn't help either. usmca is still not on the floor. infrastructure spending is out there. tax cuts were mentioned. there is a lot of other things the market is counting on early summer that might not happen, might not be in the balance. to me if they go forward with this impeachment process, albeit slowly it, still slows down the other agendas but that keeps market from breaking new highs. melissa: have to watch usmca that is a big one. connell: china trade we always talk about, they're bracing for a showdown with china facing uncertainty over trade and the escalating tensions we've seen in hong kong. all this on the eve of its 70th anniversary. get to edward lawrence in washington with the latest. reporter: celebrations have already started in china as it is tomorrow there. the administration pushing back on a plan, talking about
limiting chinese companies from registering on the u.s. stock exchanges. a spokeswoman for the treasury department says that the u.s. is not blocking chinese companies from listing shares at the present time, adding we welcome investments into the united states. other advisors say today there is an issue with transparency among chinese companies. still this is in the discussion phase. it has not gone to the president. former sun microsystems cofounder scott mcnealy says regardless, now is the time to take on china, level the trade playing field for the longevity of u.s. companies. >> china is no longer just a little third world developing nation. they are the, i think the second largest gdp in the world. very, very powerful, very strong and there is no question that their intellectual property actions are very detrimental to us. there is no question that their tariffs are higher than the tariffs we have on them.
reporter: sun microsystems built servers and processors was bought by oracle in 2010. going into the trade talks with the heads of the trade teams, the chinese are using muted language about all this, quote, we hope the u.s. will continue to work with china to deepen our trade and economic and financial cooperation. the chinese focus today on the big celebration of the 70th anniversary of the people's republic. still china dealing with scenes like this hong kong. protesters turned violent over the weekend. reuters are reporting that china doubled number of troops in hong kong to 12,000. protesters worry the democratic rights will be stripped. others think the protesters are out of line. >> translator: we support all policies and reforms and openings by the government. some people in hong kong are causing trouble and as chinese citizens we are very angry. we must carry on with patriotic spirit. reporter: china well into the celebration. the markets are closed for the
week to mark the 70th anniversary. connell: closed for the week. ed lawrence in washington. we've been looking forward to this date a long time a lot of people had it circled on the calendars what would happen in hong kong or mainland china n terms of hong kong those are more disturbing pictures, right? things got violent over the weekend. can we have an agreement on trade between the u.s. and china if it still looks as it looks in honk tongue? >> well i mean certainly connell i think that is complicated issues for sure between the u.s. and china how they handled hong kong so far. gosh, guys. look at behavior of china over the last six months, 12 months, certainly 18 months. doesn't feel like they want to do a deal. they walked away from agreements they made. they canceled meetings. changed the tone at the meetings. sent underlings instead of sending people to get the real
deal them. this is long-term game until they outlast trump or get us to fold which we're not going to do. connell: china doesn't necessarily quote, unquote wants to do a deal. what about the u.s. with a trial balloon appears floating on friday, limiting investment or banning chinese companies from listing here? does the u.s. really want to get a deal done in the short term? how do you think the administration views it? >> trump could really use a deal. a deal would be great for him. it would bolster his reputation as a deal-maker t would certainly calm the markets down. there are black clouds that are hanging over both sides. images on the screen coming from hong kong. that is a big problem for xi xinping, president of china. president trump has impeachment ordeal hanging over his head. that is what the market worries about. they want the tariffs to stop. they want increasing tensions to stop. they want things evened out with the chicago pmi today. this is having real impact on
the on the u.s. economy. we're seeing impacts on the heartland in the u.s., that area that chicago coughs, the midwestern states where we get manufacturing and trade, and all that. we're starting to see that have an effect. a deal would really help ease tensions and get things back on track and that is what the market wants to see. connell: we'll see what happens later this month. the next round of talks. deion and scott, thanks so much. melissa: oil settling down 3%. phil flynn on this one. phil. >> big slide today. saudi arabia production is back to 100% since the attacks a couple weeks ago. a lot of traders credited that, with concerns about slowing growth globally. we saw the euro hit a 28-month low on slowing growth concerns and that really drove the market lower. good news the gasoline prices for consumers that really spiked up because of the saudi attack saw gas prices spike up over 10 cents. hopefully they start to come
down with production coming back online. there are still hurdles for saudi arabia to get the oil out on the global market. even though production is back online, they will still have a hard time refining it because their refining capacity down a bit. let's hope the gas prices come down. back to you. >> phil, thank you. connell: senator bernie sanders pushing for higher taxes, surprise, surprise, on companies with wide pay gaps between their top executives and their workers. what his plan could mean for you. melissa: great idea. plus impeachment buzz continues in washington so how could it all impact the 20 20 election? we're breaking it all down with karl rove, former george w. bush senior advisor. that's next. connell: you may want to check your medicine cabinet, they're pulling zantac and other heartburn medications from the shelves. that is coming up. melissa: big story.
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increase on companies that pay ceo's more than 50 times what the median worker makes. here now to react is karl rove, former senior advisor to george w. bush. he is also a fox news contributor. karl, thank you for joining us. >> you bet. melissa: i love about this idea, his remedy is to tax, between 50 to 100 times the median worker versus the ceo. it would be .5%. he will increase taxes so he will confiscate the money to give it to the government. not to the worker. yeah, go ahead. >> the little man will get screwed on this, the little man, the little woman. these companies they're targeting a large number of entry level jobs, retail, fast-food, it will be walmart it, will be mcdonald's, the retail shop. yeah there will be disparity between very large number of people who have to make that enterprise work to operate and the management of that firm.
as a result medium, median income will be relatively low. so compared to say for example, the financial institutions or big manufacturing plants or oil and gas. melissa: yeah. >> so what is going to happen he will penalize company that oftentry level jobs. that means he will penalize people looking for their first break if life a whom a job at mcdonald's or job at walmart must be first entry into the workforce. so let's penalize the opportunity for people to get a job and begin a career. forget it. melissa: because, what is going to happen is, if you look at a place like walmart, the easiest way to change the ratio is to have fewer employees. >> exactly right. bingo. melissa: you move towards automation. >> right. melissa: look at somebody like doug mcmillan the ceo of walmart, the walmart ceo makes 1076 times more than the median worker. well it's a company that has
275 million customers, 11,000, more than 11,000 stores. he oversees 700,000 employees. i don't know, he has a pretty big job but you tax -- other option, karl, they can raise the prices of everything in order to pay for the tax. >> either way. a little bit of both will happen if it does happen. but look, think about this, what we've just said here for a minute. here is a company that went out of its way to say everybody is demanding a 15-dollar an hour wage. we're going to offer that for all our starting employees. we'll phase it in but everybody will have the 15-dollar minimum wage. how do they get, what is the response from bernie sanders? not to say, wait to go, thank you so much for doing that, to say, now that you have met that one demand, here is another demand i will tax you because you're paying your ceo too much because you've got so many new jobs you're providing to people who are entering the workforce. he speaks, he claims on behalf of the little man and the little woman but he giving them
particular if they're young a harder start. melissa: republican party reportedly raised nearly $15 million on the impeachment threat. what is the impact of people what is going on, as a result of impeachment? one thing the massive fund-raising, what do you see as implications going forward? both sides are fund-raising on isn't. >> they both are. we don't know what the democrats have gotten off of this. 15 million-dollar figure was like in the first 36 hours, thereabouts after this all broke. so the republicans have an advantage they have got one candidate and party organization. we don't have similar numbers from the dnc. and the democrat presidential field is split between so many candidates. melissa: yee. >> it will show show persistent strength as we go into 2020 because the democrats have their money divided between all these presidential candidate who are fighting among each other for the nomination while trump is
able to build up these big resources. he, his campaign bought $10 million worth of tv ads in response to the impeachment feature joe biden's speech at the council on foreign relations bragging -- melissa: i'm glad you brought that up. we want to look at, impeachment thing to a lot of people it is just noise but what matters is, it is shaping who will be running against president trump. that makes a big difference. if you knock joe biden out who is more moderate, does elizabeth warren become the candidate? that creates a totally different economic picture. do you think this ends up knocking joe biden out and elizabeth warren is the candidate ends up running against president trump? >> in my column i said it could doom the biden candidacy but not for the reason you think. not because president trump goes after joe biden for the issue a lot of swing voters hear about hunter biden and joe biden the
first time that is stinky, the vice president's son gets put on the board of a ukrainian natural gas company and he has no experience in ukraine and has no experience in natural gas. he gets paid big sums of money. a close associate of secretary of state john kerry is gets put on the board. who those are favor biden in president trump say this is stinky. that withdraws their support. that diminishes joe biden is the most electable candidate. rather than going like this against trump. he starts going like this. his margin dissipates saying i don't like that at all. i will not support him. that is what diminishes his candidacy. not any of the president's direct attacks on him. the knowledge of the hunter biden incident by swing voters and independent voters. melissa: yeah. would ultimately make the actual election in 2020 a stark economic contrast for people looking at policies.
karl rove, appreciate it. >> thanks for having me. connell: battery powered future. the first u.s. gas station to go completely gas free. melissa: is it still a gas station? connell: i knew you might ask that. the all-electric move and what it might mean for the auto industry and the workers. seeing if you were paying attention. melissa: i was. connell: california paying student athletes, what the move could mean and would it backfire on their future careers? we'll talk to a former nfl wide receiver and current congressman, the same person, later on in the hour.
so this was a big deal friday, doug, everybody was trying to figure out if this is for real. is this something that would ever happen. floating after trial balloon. what really is it, the journal editorial page says you better not give this a try because it could be a disaster. what do you think? >> i think the journal has this about right. certainly the administration spent a lot of time today trying to knock back the idea that this was under serious consideration. so i think they heard the message. you can say okay, we'll not have any investment flows between the u.s. and china that strands in china a whole lot of investment that american companies have made. that is just a pure loss. it being knocks out the chinese for coming here for financing but doesn't hurt their ability to go to london or europe, a lot of other places. so they're not harmed. our exchanges would be. and really the question is, do we have an underlying behavior that is program? if you do, we've got a committee on foreign investment in the
united states, if it's a threat to national security don't allow the investment. connell: right. >> but the blanket ban is the problem. connell: blanket across the board nature of this is what got people all worked up. understood. it brings up a kind of a wider point, maybe you were getting at this with other methods or ways to go about things. ever since the whole china trade back and forth started under president trump, one of the things he would come up impose a new round of tariffs, a guest would come on, china is a problem for years but tariffs a horrible idea. what else if not for the tariffs? that is also saying if there is agreement, there seems to be widespread agreement, political leader, business leaders, the like, there has been a problem with china, but figuring out what to do about it is tough. what is the best mix of policies in your view? >> i will said from the beginning that i thought this particular strategy was unlikely to succeed. if you set it up the way the trump administration has, u.s.
versus china, public negotiations, they must stop doing something and indeed they asked them to embed it in their laws, into the legislation. then china has to visibly lose when the united states quote, wins. that will not be acceptable to the chinese. i expected them to stonewall, push this for as long as they could, their capacity to do this is pretty good. so a better approach in my view would have been get many more of our allies on board and do this simultaneously with multilateral approaches. so think of the investment flows. what i said was they can't list in the u.s. they will go somewhere else. what if they can't go somewhere else? there is a lot more teeth. that would abettor strategy. we are where we are on the bilateral deal. can we get them to change behavior without too much damage to the u.s. economy. connell: that is interesting point. specific reason why you need other countries to get involved. not just something broad. doug, always good to see you, thanks for coming on. doug holtz-eakin. >> thank you. melissa: general motors auto workers strike entering its
third week as a maryland gas station opens, first everyone hundred% electric charging station. fox news team coverage from michigan to maryland. grady grady trimble is live at the strike and grady, let's kick it off with you. reporter: if no news is good news by that measure it is pretty good day in detroit as talks continue behind me. we're three weeks into this thing, when it started some people never even thought it would last three days. here we are. talks moved up the chain to the top negotiators. they remain there. meanwhile the picketers remain on the picket line. there is still no sign of resolution on the key issues. things like worker pay, health care. production here in the united states as opposed to moving plants to other countries. as well as a path to full time employment for temporary workers f those issues sound familiar. that is because those are the ones we were talking about on day one. the losses are really starting
to add up for both sides. look at gm. we heard analysts say gm stand to lose 50 million to $100 million every single day the strike drags on. if you multiply by 15, for 15 days. to $1.5 billion the company has lost. on workers side, the day 15 workers start getting strike pay that the union doles out to them. that is $250 per week. if you do the math, that is less than federal minimum wage. so really not a lot when they're used to earning something like $30 an hour for full time workers. one thing interesting to point out. look at general motors stock, when you look at it compared to the other of the detroit three, fiat, chrysler, ford, gm is outperforming them. something interesting to note as the strike stretches into the third day. i heard you talking about electric cars, that is another likely point of contention, gm is shifting towards electric car
production. the workers don't necessarily like that. it takes fewer workers to make electric cars than it does to make gas powered cars. melissa. melissa: interesting stuff, grady. to hillary vaughn in takoma park, maryland with more on this electric station. reporter: getting very first look at first all electric no-gas gas station in the country. maryland is the first to really convert a gas station to all- electric charging ports. he told us he said it takes 30 hours for his car to charge. coming here he can fill up to about 100% within 30 minutes. each customer will spend around 5 to $10 to charge their battery here at a station like this. we talked to the opener who once owned a gas station.
now owns a electric charging station. he owned for 20 years a mechanic shop. the issue is not money but helping out the environment. he is not looking for massive amount of money from this operation here but. >> if i contribute a little bit it doesn't matter to me. i'm not looking at the end of the day how much money we'll make out of this. reporter: there is a demand here for this, melissa. maryland has over 20,000 registered electric vehicles. they have an electric taxi service. they even have two vehicles on the local police force that are all electric, that actually one of them came here today to fill up. so there is a demand here. how much money he can make off of it, is still to be seen. this is the very first one in the country. he said again he is not betting that he will make a ton of revenue off of this. most of his revenue and money coming in comes from the mechanics shop behind me
attached to this. melissa: hillary, interesting. thank you so much. connell, that is funny. takes a half an hour. connell: yes. melissa: i wonder how long most people sat there? in terms of helping environment they know where electricity comes from, right? connell: that is interesting. i this about that from a business perspective. margins on gas stations are not great selling gas. if you get someone sitting there for half an hour, have a coffee shop inside. the idea for get attention for it and get people come to the store, whether they're charging your car. melissa: a totally different business. if you're serving food inside, you would have to have a lot of different things to charge up the cars or do they spend a full 30 minutes? maybe you get the battery half -- i don't know. interesting proposition. i wonder if hillary asked him where does electricity come from? anyway. connell: idea of canceling student debt, we talked about it a lot, how about doing it with tax on wall street? we'll break down the implications of one congresswoman's plan, the latest
plan. dan henninger from the journal up on that. melissa: luxury homes are seeing a huge in sales. there is a catch. we'll take you inside one of the homes coming up. it is pretty. i like that one. connell: drugstores across the country pulling a popular heartburn medication from the shelves. what you need to know about this story before you reach for your medicine cabinet. that is also just ahead. ♪
♪ connell: taking extra precautions. cvs pharmacy and other retailers suspending sale of zantac and generic version, over concerns it might contain a substance that can cause cancer. the move comes after the fda issued a warning earlier this month about acid reducing medication and links to a carcinogen. the products have not been recalled. melissa: bailing out main street congresswoman i will hahn omar wants to cancel $1.6 trillion worth of student debt and pay for it with a tax on wall street. what a great idea. dan heninger, from "the wall street journal" and fox news contributor. there are so many ironies here, if we're canceling out of debt of schools, why not make schools pay for that? i mean by definition aren't they the ones that sold students a degree that wasn't worth what they paid for it? if you can't afford to pay it back from the job you to the
with that degree, wasn't what was promised, right? >> something like that. some of the schools might object, though certainly your all mamatter haw sadder did, alma mater harvard may have the ability to pay off all the debts. where is going to stop, melissa? some left-wing democrats are getting us to believe there is a pot of gold at the end of every rainbow. we had this. we had bernie sanders suggesting that you we could cancel medical debt before that. there was alexandria ocasio-cortez proposing "green new deal," which many of them signed on to. multitrillion dollar "green new deal." we have bernie sanders "medicare for all" which was many more trillions of dollars. then they just sort of wave their hands, well, we'll tax
stock and bond trades. or we'll tax billionaires to pay for all this. there is air of unreality about all of it. i think there is a political dimension on this. the one person who should be more and more concerned about these crazy ideas is elizabeth warren. i mean warren is radical, but she has a lot of radical ideas but i think her plans are meant to suggest there is intelligence behind them but ideas like canceling ought student debt, canceling medical debt, "medicare for all" is not suggesting in any way there is intelligence operating behind them. i think she is a little concerned about that. melissa: they say that this plan, it would be a half a percentage point on all stock trades. one point on bonds. a tiny fraction on derivatives. they think it will raise $2.4 trillion over a decade. the problem is that these things never raise the revenue that you think it is going to because all it does is, you have that many
fewers trades and the folks trading, that is pension funds. that is teachers. that is firefighters, is it not? where am i going wrong with that? >> you're not wrong. eventually it will get around to firefighters, teachers, policemen. she is talking about people forgiving debt people holding college debt. is she suggesting in the future all college will be free? there will be no more debt going to college? how will we pay for that debt or people going to college. if the idea you're simply going to tax stock trades i think most serious people would agree eventually you will run out of tax revenue and eventually you do have to come after the middle class. bernie sanders, to his credit with his "medicare for all" proposal has said that the middle class indeed will pay higher payroll taxes. he claims they will benefit on the upside of not having to pay medical bills but at some point you really do have to reach into the pockets of the middle class. that is where a lot of these
ideas are simply going to be running off the rails. melissa: it is not even at some point. it is pretty damn quick. dan hen ginger, thank you. connell: california changing the game maybe across the nation. paying college athletes and ncaa is fighting back. ng you up... calculating your every move. you think this is love? this is a billion years of tiger dna just ready to pounce. and if you have the wrong home insurance coverage, you could be coughing up the cash for this. so get allstate and be better protected from mayhem, like me-ow. (groans) hmph... (food grunting menacingly) when the food you love doesn't love you back, stay smooth and fight heartburn fast
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♪ connell: changing the game. california governor gavin newsom signing a new law allowing college athletes to make income from outside endorsement deals. it is expected to take effect in 2023. what code mean for college sports? we have anthony gonzalez, former ohio state football player and played in the nfl for the indianapolis colts. congressman, this makes you a great guest. talk about one state doing this or how congress gets involved, how it plays out in a moment. first your background as a college athlete yourself what do you think of this ideal howing athletes to make money on outside? >> on the merits, fundamental notion whether or not college athletes should make money off name, image, likeness i'm for
that. the next question you're about to ask is the important one, which is how do you do it. as a general concept i v been for that a long time. i think that is fair. connell: now it is about how you do it. >> correct. connell: one state, a huge state with a lot of big-name college problems in the state, ucla, stanford, call berkeley, this making a move, nobody else making a move is this right way to go about it? >> i don't think this is the right way to go about it. you will have a legislative arbitrage players hassing -- choosing a state with the most favorable law. we need federal preemption here is rules of the road. that should be done alongside the ncaa. they are working on this. gene smith, my athletic director at ohio state is working on this specifically. if you have unbridled free market anything goes pay-for-play type thing you will
have more bad actors on college campuses than you have ever seen before. these kids will be taken advantage of. connell: ncaa is arguing this, maybe congress plays a role, saying it's a constitutional issue a ban on states from putting a law into place that looks to regulate interstate commerce. you have all these schools obviously playing across different states what have you. so what role in the future might either the court system or maybe you play a role in congress, how it plays out. >> i actually think that what we should have is we should have one federal law again, that allows this to take place but alongside of regulation at the ncaa level. that will even the playing field for everybody and provide important benefit to athletes i think absolutely deserve them. that is ultimately the direction i hope this goes. i will look to introduce legislation alon those lines. connell: you will? that is coming soon? >> we'll start working on that.
hopefully have something by the end of the year. as you know congress takes some time. connell: i heard. we'll have you back on. that is interesting. congressman anthony gonzalez good to see you. thank you. melissa: fox business investing in you. we have you covered from on air to do the come, 24/7 on the web with foxbusiness.com. lauren simonetti is live in the newsroom with more. >> the new web site and app are live right now this is digestible information. it is very clear. as may knew the mouse, money, markets lifestyle, real estate, tech, sports, key issues you talk about and you talk about at the kitchen table with your families. come to the right side of the screen, fantastic day on wall street, all green for the three major averages. you see at the left side of the screen, president trump cheering new invests in the u.s. billions of dollars particularly going to the autonomous driving
technologies. so the website is very clear and crisp. the word i'm liking to use, digestible. sometimes they are jam-packed with a lot of data and charts. it's a lot of noise. not here, not now. connell: like it. we're digestible. very good. prices dropping in the luxury real estate market. what is behind the massive cuts? it means for economy. we'll bring you to a house that has dropped in price millions of dollars. that's-d next. ♪ $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade.
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>> prices by the midlands, thatt luxurious homes thanks to the so-called soul taxes, the state and local taxes and cheryl is live in one of the homes. this is in new jersey. cheryl,. >> that deduction, only ten grand off your federal tax return takes a big hit out of luxury real estate, soames that are seven under $50000 and above, this home $3.1 million but that has appraised deduction as they take you inside. it was originally at $6 million then they went out the 3.95 now 3.1. this is just the foray of the entrance, it's 20 acres, 11500 square-foot, seven bedrooms,
eight bathrooms, four half baths and then you have to see what is outside. let me bring you to the backyard. there is dear which i've enjoyed seeing brought the day as a girl who lives in manhattan. also you have space. that is what is really hard to find in a congested central metropolitan places. you have the tennis court, a lighted tennis court. and if you move over to the right, there is only dear friends that we see this morning. that is a lighted helipad and if you have your helicopter, it is only 15 minutes to commute into the city from new jersey, the man that lived here did that for years and years then he retired and went to a low tax place like ford. then you can see the back of the house, three different levels and again, all of the space, believe it or not it is been on the market for several years now. what is going to happen, a little bit of an uptick in the
luxury market but only in the last month. first quarter 2019 really rough for luxury homes, there was a decrease 1.7%. your two visa 1% jump. we love it. >> that does it for us. oh's embarrassed start right now. >> 2020 presidential hopeful bernie sanders firing off a new attack on wall street. this time taking aim at ceo pay and demanding more from ceo pay off with another wealth tax. this is bull's embarrassed, i'm christina joining us on the panel john, trish mary and more. bernie sanders, new plan calling calls for increasing the corporate tax rate by half of chief executives to 50 times more than the median employees. it hikes up corporate tax rate, the bigger the wage gap.