Ridiculous. It should be 28 . I would raise almost 800 billion a year. If companies not paying anything at all. They have a minimum of 15 . I would raise another 740 billion a year. That comment flew by last night without a question. Either by bidens competitors or the media. Look at this, Corporate Tax revenue last year was 230 billion. Total. Biden claims under his plan, Corporate Tax receipts would spike to about 1. 5 trillion. That is a 670 greater increase over whats now being collected. Its clearly impossible. Even one of the moderates in the bunch is making wild claims, what does it tell us about the economic claims we heard in general last night . Unfortunately, hes not good with numbers. This didnt make any sense. I know what hes talking about, he wants to raise the Corporate Tax rates by the way, there are a lot of them like amazon in the spotlight because our tax laws dont require them to payax. They have other benefits so joe wants to change that but look, at least hes putting numbers on the table. Last night, we saw again Bernie Sanders having to have any discussion whatsoever about the cost of his programs or where the money coming from. 670 increase. What gets me, the lack of any interest on the part of his competitors to check in. Is not wrong, 670 . By the way, even if he meant over ten years, he said year by year but even if you meant ten years, thats 67 increase which is also impossible. The whole night higher taxes, work rules and regulations, more fees, more government control and less of the people, not to mention the healthcare situation. I was waiting for just one person to talk about the people and the greatness of the people and not the government about the whole night was about bigger and larger government and more controlled by the people running the government. That to me, is a gargantuan issue. It was basically socialism versus capitalism. Theres only one pushing back on that. Lets bring in lee carter, you react to every one of these debates. The battle between capitalism and socialism, lets go through that one first. Show us the ground and how people waited the candidates. We had voters reacting using the computer, you can see how they reacted. Yellows are independent, blue or democrat and red is publican. When bloomberg was talking, he didnt see much reaction. Look. I cant think of a way to make it easy for donald trump to get reelected. Listening to this conversation. [laughter] we are not going to throw out capitalism, we tried that. Was called communism and it didnt work. You can see there, republicans have the best reaction to him. He independent seat publicans are reacting to obviously the winner here, trump listening to this. What they are not electing to was the idea of going after capitalism. He was just flatlined. This was his best linet. I was the top moment. Thats as good as it got. Thats it. Right there. Whats interesting is that first of all, i want to go back to what was said, amazon pays a lot of taxes. Federal talkers taxes they are talking about. Im not sure, this comes from a panel of events bloomberg was never spent a day in business. They dont understand capitalism. They points at companies where everyone should pay more taxes. They forget what amazon does with their savings and right they dont pay taxes. Company that hire 250,000 employees worldwide, that takes the money they save and invest it. Who thought you would be able to get a package and get it the next day. Sometimes that day. They dont go out and buy a yacht for the top executives. Bezos does have a yacht, im sure about the rest invest in the business and asked how they become the amazons of the world and walmarts of the world. So we benefit by the savings they have. The bottom of mind is you saw it flatlined when bloomberg was talking, in order to combat the socialists push in the Democratic Party, apparently you need something stronger than what we heard from bloomberg. He was a bit low energy, a flatlined quality to it but theres a problem i think about the partisanship of discussing whats going on economically. I know thats the red meat of our world today but theres a nuance reality that says look, we have 2 gdp growth, incredibly low in employment. Nine years of generalized economic expansion we also have a lot of people actually employed, not able to afford healthcare. We could have a discussion about them being really good in some senses, challenging and others without being a complete binary, sanders think everything is awful, there in 1932 and we need to revolutionize versus homesite this is incredible, this is amazing and no problems. The reality that in between we are not having thought discussion. One of the things thats really interesting is what people hear when you say socialism, whenocrats socialism, they dont hear marxism or communism or a lot of the things people are talking about. They hear fairness. The here its going to be something is going to come back and is not going to be unfair anymore. They hear capitalism, they hear unfair. It isnt the same, we are not speaking the same language. People need to realize if you say i support socialism, appetite capitalism, you have to show them opportunities that you can invest in your future, is a great place for them up there. Right now, they dont believe it. They see it as black and way white, fair and unfair. People are missing the debate altogether. The fact that bloomberg flatlined on comments like that, is that to do with how he says it bucks versus what he says . He had darn good argument against the other side. He doesnt seem to really resonate that energy. His message as a funny line in the beginning, listen in on this conversation but theres nothing to it. We are not hearing from bloomberg whats better about you . What is bloombergs america going to look like . More to save the country from donald trump, what does it mean for us . Its not enough for you to be rich or anti socialism. You dont just get a ticket to be fair because of who you are, tell us what youre going to do. Or somebody else talking last night about capitalism and hes kind of the opposite, that mirror image of bloomberg in terms of personality. That is donald trump of course. Heres what he said, i think you will see the lines going underneath the screen as he was talking about capitalism and socialism. Play the tape. Democrat have never been for extreme. Taking jews from crazy Bernie Sanders while the socialist democrats are trying to destroy American Healthcare and social security. My administration is protecting your social security, your medicare and fighting to give you healthcare and thats what we are getting. No flatlined. Grew publicans given in a. You see what he did different . He said this is what im doing for you. Thats what its all about. Thats when you win. Show us what america looks like if youre president. Wore the big moment for other candidates last night at the debate . Did anyone really score well according to your matrix . No. [laughter] Elizabeth Warren delivered some really solid punches and let her bloomberg badly. To help her . Are not so sure. Maybe another. Or two, shes not there yet in the polls but she was getting there. She needs something, i dont think its a huge change if you went into liking mayor pete, he left liking him. If you went in hating them, you left hating them. He lost the night. I appreciate that, you show them what you are doing and trump does not. He shows people what hes doing and it hasnt actually been done. Im fighting for your health care in providing better healthcare, its an evidence free statement thats contrary to what is happening under both republican why are you getting the facts in the way . Nobody was at the debate last night. Appreciate it. Dow falling over 300 points from a corner voice coronavirus rattles fears, it could have more drastic consequences than we were anticipating before. We will discuss whether we should be a little more worried and we have been. That next. Stocks fell like a stone this morning with chief Global Equity strategist, its likely we are underestimating the impact coronavirus will have on earnings and stock prices. Stocks recovered later in the day, are we underestimating the full impact of the virus . Its tough to tell i think we are underestimating peoples reactions. Companys reactions to the vir virus, i say it its a dichotomy, we heard the news from apple and that affected the market. In reality, theres been about, im not minimizing it but im think the reaction to it. Its been about a thousand deaths so far. Theres been on average 50000 people a year who die of normal flu. Probably giving the population in china, probably 30,000 in china but we dont hear that number affecting manufacture, although it has to. You would think. Right now, i think we are where people just dont know. Its like anything else, we dont know. Its like after 9 11, we just didnt know and the market continue to grow downward so it picked up. I think the fear, we dont know how people continue to react to that. As far as the actual numbers, we will have to see if more apples. Its already bigger than sars. The roosevelt moment, we have nothing to fear but fear itself. The challenge here is that it will shut down the supply chains in china between midjanuary and whenever, whenever it gets back up and running. Thankful for that in terms of these shortterm shops that are not about to deteriorate in front of the mantles, its not something you should invest in. The market selloff because everybody is freaking out about supply chains being disrupted unless you actually believe this is a permanent disruption. I was not going to be able to make it, then its an overreaction and you would buy. Although there are some industries while you are not get the money back. Two weeks worth nobody is going to a disney theme park, can come back and spend twice as much the next week. Was like back in the summer. Well, maybe. There are so many categories with companies that are going to be hurt. Companies that manufacture, good producers who sell into china, weve had i think 500 companies now say the coronavirus has impacted their earnings and manufacturing. The problem is, we dont trust the information we are getting out of china. The market hate our certainty, first month nothing more uncertain. The market did not go down because of the market, its been stronger, both markets will not and because of the virus unless we wake up one morning and something happens in the subway of new york city. Wasnt dicta doing a little bit . You got that notice from goldman sachs. 10 this year, its just plain old good there seems to be a cap on how high the market kindle. Every time it kind of, its up 30,000, close to 30,000. The comes back down in regard of the virus. Thats okay, we were up 30 last year. His number on the place you wont get to for a while. If something happens in the subway of new york with the virus, thank you are talking there. I look at the numbers, 99 is like mainline china, look at the crews line stops. On the whole market, its pretty darn well. For every one of those stocks that i think has taken a seasonal pit like the crews lines, sure, the people might put off being on whatever one of those norwegian whatever, now but then they are just going to defer that category so if the stock takes a hit, making up a number, i would buy that because you know next go round, the next earnings that come in are going to be a lot stronger. The words pent up demand. If you have sold out ships, theyre not going to get sold out twice. As a hit to the companies. The earnings and stock price. That moment today. That came out early on and it wasnt until the coronavirus concern raised their head. When they tell you maybe we will lower rates again the markets have been earned 20 years ago, someone said 36000. Its 20 years later and theyre not back to that. While it was left news of the day, roger stone sensed 240 months in prison between the president and d. O. J. , where do things go from here . Former federal prosecutor is here to wait on this and so much more. Next. Roger has a very good chance of exoneration in my opinion. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Trump i like waterstone was sentenced to more than three years in prison today, this is exactly what was recommended by attorney general barr when he overturned a group of career prosecutors last week. They were demanding more jail time for stone. Lawrence is outside District Court in washington d. C. Were roger stern appeared earlier. This afternoon President Donald Trump sang hes not going to pardon the sentence for waterstone just yet, putting the process play out. Right now, waterstone is free on bail but still facing three years four months in jail seven counts. The judge sentencing for obstruction of justice, lying to congress as well as when is tampering and we have to pay 20000 fine. Dont will not be going to jail right away because of that. A Pretrial Hearing or a retrial here is what they want. Jury was biased going into trial and points to social media posts she made. Donald trump taking a fat porch. Listen. Its my strong opinion that the womans of the jury, the woman in charge of the very, how can you have a person like this . She was an anti trump activist. The judge agreed to wait until the pretrial issue has been decided to execute that sentence. The gag order remains in place. During the sentencing, the judge delivery a condemnation of stones conduct i think the court should not sit by idly and say well, thats just roderick being roger. She called him a liar several times and someone who engages in political dirty tricks. The judge asked about the original sentencing accommodation, she said the original recommendation, seven to nine years was more except if necessary for the crime. She did say that probation would be to clean it. Thank you very much. Great reporting today. Lets bring in doug. A week now we had everybody pulling their hair, Mainstream Media and the whole deep state inside saying that this was horrible. What bill mark did, recommending a lower sentence, this is a sentence the judge finally accepted. Exonerate velpar . It does. It is very disappointing to watch but because of the political toxicity that we are in. Hysterically calling for the attorney general the u. S. To resign. Absolutely ridiculous. Hard to restrain myself. Velpar felt the seventh to ninth year recommendation was way too high. Remember the United States attorney in the district of columbia felt it was too high. Back then the prosecutors threatened to resign, and it went to maine justice, they similarly said, today the vindication, your word and you are correct, an independent judge from the federal judicia judiciary, graduate of harvard law school, law clerks raffetto appears court judge and assistant attorney like me, who grabbed the case and came out the way the attorney general said. The entire narrative is deflated. Im confused. A year ago, i was a juror they vetted the heck out of me under penalty of perjury and now we hear all this about four women, Holding Back Information or even sitting about information. Im wondering, shouldnt it possibly have been a mistrial or at least go backwards a little bit and maybe do some things over and backwards again . It seems like it went forward quickly and blew it off. Thank you for reminding me because this is very interesting. Theres a motion pending for a new trial based on exactly what you laid out. That is the foreperson of the jury whose lawyer incidentally, very important to note, was not forthcoming with information during jury selection. The points that are interesting, the judgment forward with sentencing, reserving fat motion. A lot of us say not sure why shes doing that. I now get why the judge did that. She wants to retain jurisdiction and keep the gag order in effect on roger storm. Your question, they are going to litigate this question, after sentencing about whether or not i should be a new trial because that juror who ended up critical information that would have led the lawyers to try to challenge her. You think there should be a new trial . I do. I think if this woman, if in fact, she did not disclose that she had issued a lot of information that seems to be negative against the president administration, i do. Is there any past measure in terms of not having an entire trial from beginning to end or Something Else she could do to mitigate this . You could penalize juror herself without affecting the case. He said he feels it Strong Enough for a new trial and i agree. To answer your question, yes. Just sanction her without overturning the verdict. I believe if it is as reported, ive been seeing all the material in its serious enough possibly to warrant a new trial. Im surprised calling this a vindication in the as you know, better than anyone, its up to the judge to sentence them with criminal justice reform, the judge has wide latitude or no longer with the judgehimself ina way that would have been best done, within the justicedepartmk from higher up. The way this ends up unfolding makes it seem as if the Justice Department does determine sentencing which it doesnt. So she may come up with exactly the recommendations or even less, for all we know had this not transpired. The vindication is only there not likely because as you are saying, the United States attorney, my boss could tell me and say i seek your making a recommendation in my case. I want you to cut it in half. Yes, ill do the legal stuff. Politically, people were foaming at the mouth. We have to remember that 2000x d. O. J. Prosecutors are calling to present. He made a call that it should be on that level, two to three heres the judge indicated him by giving that sentence. Again, the idea that this is an outrageous meltdown of our justice is not just breathtaking. We are going to leave it at that. Good to see you. Thank you. Another politician is taking a stand against amazon with a new location in the account but this one may surprise you. Not at all like aoc. Well give you details coming up. An its not just leftists like alexandria who has problems with amazon basin her community, now a republican mayor outside of chicago is fighting the tech giants plan to build up a filament center in his time. The mayors here is pro trump and he has a history of being probusiness but in Amazon Fulfillment Center is not a business he supports coming to the chicago suburb for a few reasons. The village cant handle the traffic, he says the building would be plain ugly and unsightly and to talk and he says it would bring 1500 jobs paying 15 an hour but he calls that living wage, he says its not a living wage i should say. Although, it is more than 5 higher than minimum wage here in illinois. When i spoke to the bank today, he told me its ironic the richest and in the world, jeff bezos pays some of the worst salaries. Hes provoking him as you mentioned but his opinion on this is similar to another clockmaker on the other side of the aisle. Politically, did you think you would share alexandria cortez . [laughter] thats a great question. You thought about that all night, didnt you . Im for good jobs, good businesses, thats what i was elected to do. Many cities across the country you think these are good jobs from a good Company Including montgomery, new york which just approved an Amazon Fulfillment Center gave the company tax incentives to put that for from a center that but back here, the mayor says hes been getting calls from people all over town and most of them support his fight against amazon. Thank you very much. Lets bring it to the panel. The mayor is a fool for turning down 1500 for 15 an hour . Went to the mayor get into the architectural debate . The building is likely, is that your call . You do a little math and its interesting. If he thinks 15 an hour is not a living wage and he has to argue with half the people in chicago. If they work 15 an hour and say they work 40 hours a week, they make about 62000 a year. The Median Household Income in chicago, 68000 a year. So if youre not paying a living wage, you dont argue with half the people in chicago. Remember, those are entry jobs that amazon is giving out. Amazon when they raised it to 15, thats what bearing Bernie Sanders wanted. I think its stupid, its dumb, you should vary by region. There should be a minimum wage but is it competitive . According to chicago, it is. Clearly is a fan, is not amazon in my backyard and he may actually have a point in the if you want to keep a certain economic level in your communi community, keeping a higher floor on your minimum income is a way to do it. In your point about chicago, we dont want to be in the economic problems of chicago. I like the way he responded. My few is, there are a lot of people in this town who own Small Businesses and they hate amazon. Thats my guess. If he hears from them all the time why would they hate amazon . Air putting out there local federal drug stores and businesses. It isnt real life. If you have a town and there are Small Businesses getting creamed, my guess is that whoever elected this man and kept him in that job for 30 years. I live in florida and guess what they are putting in my small town . They are so darn happy. They are going to have new people, new workers coming in, managers and all of the sudden we will seek a chickfila go up and they have to hire people there. Property tax income. Maybe they build an emergency clinic in a spa that and then you have a virtuous cycle. Go ahead, tell him 1500 people, we dont want you. We should mention amazon paid 50 billion so clearly, they found out there would be workers who would like that. Amazon has done that, there are either people who need the jobs and they must have figured there are people willing to work for 15 and who need work or they are not. Again, i think the mayor is covering his own medical background. We still do to some extent when hallmark came into the small towns. Whose benefit the most . The lower, middle income people and thats why walmart is the biggest grocer in the country. We kept hearing it stop his like 150,000 to go out this way and all kinds of businesses and attracting other businesses, this is crazy he wouldnt want this to be there. Good luck, mr. Mayor. The trump economy continued to outperform expectations across a number of areas. They annual economic report coming up next. Together we are building the worlds most diverse economy in only three years, including regulation cuts and tax cuts because the other one raises taxes. We cut taxes by record amount. It went to 10000 a family. President trump taking credit for policies that have led to Major Economic gains. Details of which were just released in the white house annual economic report. Penetration focusing on four major points. Tax cuts, deregulation, energy and of dependents and trade renegotiations. While all of this resonate . Of course it well. Is it the highest level in the Administration New poll out today confirming that. Its across the spectrum and in particular, on the economy. Unemployment, rising wages particularly for low income americans, poor people in the workforce. A lot of things this administration has a compost and you can argue whether it was because of obama most people think its because of trump. All because of the policies. And the policies are working. Was taken from a tax cuts were great. Regulatory cuts were magnificent. With all due respect, president obama he was routine of regulation. Lets regulation and it put a headwind into business. The other party the equation, 3. 6 , 3. 6 unemployment and millions of people off of welfare. Voters are going to flock to those type of things. Pretty decent jobs. Some voters are going to flock. This remains in a highly polarized theres no chance in any spectrum that california and new york, illinois, new jersey, massachusetts are from up again and theres no chance of the state or the country vote democrats. No matter which economic story you tell, there are a lot of people who arent listening, theres a weird disparity in that. A lot of the people who have done well believe they havent. They feel better about their lives, the irony or an odd reality given the statistics. So if you are left with this competing, its a little what we talked about before her you say capitalism is one thing and our Economic Statistics have become part of that the president was in california, he looks at the numbers and realizes, theres no way hes going to win california but there are certain people running in the election, including mr. Mccarthy. Who could be the next speaker of the house if the republicans take over. This pushback, theres a lot of unhappiness in california with taxes going up, hike regulations, with the homeless problem and etc. We seem to migration of california and those dates because of taxes and regular asian. People boil it down to two things. They didnt have a job before trump was elected, they probably have a job now. If they were making x, they are making 1. 05 times x now because the wages have gone up. Those are the things people care about. I will say this, thank god people are not able to easily translate what happened with the trade policy into their own personal pocketbook because now a number of reports have come up, National Research says drums trade policy, at least for the short term has hurt the economy. Talking about gdp but people cannot translate that. One think they can translate, the net worth of the bottom 50 of wage earners. The bottom 50 have increased by a greater percentage than the top. 47 or something. I really significant number. There were segments of the population but have not prospered in the last several years. Its hard to find who that is. We are talking about x balance getting jobs, disabled getting desert better jobs. There are not many groups left behind in the last several years are the theres a bottom tile, 50 billion plus people where effect goes up 5 in wages 7 , they are still in the bottom. But its getting better. Tomorrow, we will have labor secretary Eugene Scalia for more on the economy, thats coming up. Coming up right after this, Elizabeth Warren having her best fundraising day get after the fiery of the debate performance but shes still pushing this same old wealth tax. Could this tax ever actually work in america . Details next. Sometimes your small screen is your big screen. And with the Xfinity Stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. Download your dvrd shows and movies on the fly. Even record from right where you are. Whether youre travelling around the country or around the house, keep what you watch with you. Download the Xfinity Stream app and watch all the shows you love. 2020 president ial hopeful Elizabeth Warrens campaign so they got 2. 8 million based on her debate performance last night. She continues to push a socalled wealth tax, many say its unconstitutional. The wealth tax confiscate private property on which taxes have already been paid. She claims competition tax will allow her to pay for all the free stuff she wants to give away. Listen. This is the attacks on the top one tenth of 1 in america. It will restructure our economy. It means we can use universal childcare for every baby in this country 80 five. 800 billion into our public schools. 50 billion into are historically black colleges and universities and we could cancel Student Loan Debt for 43 million americans. Is at all . One think you didnt hear last night from the questioners or competitors, nine out of 12 European Countries that tried to wealth tax scrapped it with less revenue because the wealthy moved out. What happened to all of this warrant Spending Plans of her wealth tax fails . Its kaput. Behavioral economic, how do people react to tax . Talked in the earlier segment, people in california into texas. I move from maryland to florida for the same reason. I think the blue purpose of the world, if they get hi, they will move to costa rica . I guarantee good. Countries raise taxes, people have a reaction. They think i have to live here anymore. It is deeply frustrating that these discussions are unfolding with zero connection to legislative reality. Unless the Democratic Party gets 60 plus seats in the senate, which is not going to happen under any scenario plus the white house and even spent, people like joe manchin voting rights, these are ridiculous suggestions because they are never going to happen. At least the Corporate Tax cut which is controversial, there was a bipartisan consensus. This is never going to happen. These people running for presidency, i suspect that they are thinking about this. Bernie sanders, 8 plus tax here taken every dime from the billionaires after how many years . Elizabeth warren wants 6 , this is absolutely insane. People capital business will flow where they are treated. Anybody whos been successful, corrupt, terrible, get up. You have to imagine what this wealth tax means. Some guy from the Tax Authority will come into your house and value everything you own, all your jewelry, ocular rugs. Value everything so they will know more about your you and your wife or husband. Sense, it makes it sound like gosh, everybody there. I think the most important thing for people to know is it hasnt worked in places where they try to implement it. If it doesnt work, theyre just talking about it being imaginary. It is not going to happen but by the way, the fact that people are willing to vote for these candidates, even though they think something to be passed, whats the point of that . The reasons they have the get out of dodge attacks, they will hit you with a 40 50 of everything youve got because they know people believe. I can promise you, right now, people are not waiting. The high price right now these successful people in there looking at places right now to get out. That has to be the last word. Good news or bad news, americans saving for emergencies. Answers up next. With sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. And get your Interest Rate right so you can save big. Get a nofee personal loan up to 100k. David media pundits were warning of doom and gloom on the horizon based on a new report showing about a quarter of allamericans have more debt than they have in emergency savings. But the same bank rate survey found 49 of americans have more savings than Credit Card Debt. That number has increased by five Percentage Points over last year. So is americas middle class wellpositioned for a rainy day, gary . It is getting better. Lets hope it continues to get better. There is book called millionaire next door i read many years ago. How millionaires who didnt do things right became broke and how people making 40,000 a year became millionaires. That is how you treat dollars that makes or breaks you. Great book that talks about all this. Those are pretty good numbers. Kind of encouraging. By the way we heard john delaney and other democrats running for office so many tens of millions of americans are 500 days away from catastrophe. I dont really believe those numbers. David right. I think anyway, this challenges that notion because this is over half the country. David that attitude kind of belittles americans character. Weve been through a lot of crisis. We come through it okay. I dont think it belittles the character. I think reality too many people are one emergency away from something. If it is a Health Care Cost i dont think in affluent society that should be the case this is much longer debate than the 24 seconds we have. David 12 second. Am i only one baffled by niece numbers . Half the people have enough savings . I understand the numbers but still, are we better off, worse off . This is one of those things its like we having same argument for the last 100 years. David we will for the next 100 years. See you next time. Liz okay. We have in breaking news mode. Look at the live shots, the fox business alert. President trump is on the move this hour. He is heading to his rally in Colorado Springs after a big turnout. Both at his speech in california and later at a rally in phoenix last night. Now colorado supporters have been pitching tents overnight just to get in. Tend degrees freezing cold weather. Look at those shots. The president s approval rating, we have news breaking here, hit a new high in the latest real clear politics average of polls. Look at that. He has a 46 notch there. Plus a new gallup poll shows the president s