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tv   Cavuto Coast to Coast  FOX Business  January 7, 2021 12:00pm-2:00pm EST

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floor of the senate he said he was done with the continuatino of the election dispute. he said i'm done. i'm gone. that was lindsey graham. presser at 1:30. what a day. ex-prodder nary developments the last three hours. i'm sure there is more to comb. neil cavuto. it's yours. neil: your exactly right, lindsey graham stuff that is the 108 the likes which we've not seen well since 48 hours ago. stuart, we're following all the developments including markets running ahead of records here. dow, s&p, nasdaq trying for the day, we're keeping eye on that. a lot is relief it is over. craziness yesterday is over. a lot of questions being asked, d.c. mayor muriel bowser looking what happened here. what we can do to prevent that. we're learning the national guard will have a presence in the d.c. area right through the inauguration, through next two weeks and next 30 days.
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we'll hear what is was in house and senate offices when all of this was going down. we have representative mullen and jody harrington with us what they saw what they witnessed. on one occasion one of them tried to get the protesters to calm down. for now we're looking at how and when this could ever happen again. a lot of folks say it couldn't happen yesterday but it did. we'll hear from former senate majority leader trent lott. he knows a thing or two of disruptions in the well of the who house and senate. he will tell us all about it. this is neil cavuto. this is "coast to coast." busy goings on. the latest from mike emanuel where things stand in washington a day after. reporter: neil there, are bipartisan calls for what happened at the national, a day that scared the capitol building, a mayor nonday which
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ended certification of 2020 presidential election. the aftermath was quite visible. the united states capitol littered with broken glass, debris, even blood left behind. as one of the most sacred spaces of the american democracy was trashed, capitol police found two pipe bombs and suspicious vehicle near the ground. lawmakers were continuing their duties certifying the 2020 presidential election. it was clear something had changed in the political battle in a high-profile senator issued this warning. >> choose to continue to support a dangerous gambit by objectingg to the results after legitimate democratic election will forever be seen as being complicit in an unprecedented attack against our democracy. reporter: some of those who planned to challenge the election results had cheerly changed their minds. >> cannot now in good conscious object to the certification of
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these electors. the violence, the lawlessness and siege of the halls of congress are abhorrent, and stand as a direct attack on the very institution. my objection was intended to protect. reporter: in terms of fallout, mick mulvaney, former chief of staff resigned as u.s. special envoy to northern ireland. an hour after calling on president trump to condemn the violence, acting dhs secretary chad wolf said he would stay in his post until january 20th but his nomination to be dhs secretary was withdrawn. the session wrapped up after 3:40 in the morning but the shock and sadness remain after an ugly day at the u.s. capitol. the police officer solved in the protest shooting has been placed on leave. neil? neil: all right. mike emanuel, thank you very much. meanwhile we've told you about chuck schumer, the soon to be senate majority leader or likely
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once democrats take hold of that body has already called for president to step down. a day longwer him is a day more we are at risk he says. we'll update you on that. edward lawrence on the changing complexion of a democratic complete sweep? our nation's capitol? reporter: president-elect joe biden will be the next president of united states. democrats are gearing up to start spending money. almost immediately senator chuck schumer said he wants to get those 2000-dollar direct stimulus checks to americans this month as well as push some of the other ideas. listen. >> that as majority lead president biden and vice president-elect harris will have a partner in me and my caucus who is ready, willing and able to help achieve a forward-looking agenda and deliver bold change. reporter: the senator would not say if or when he plans to tackle the increasing the taxes
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on americans as well as increasing the corporate tax debt. we do know that president-elect joe biden does have plans for some big things in the future, infrastructure plan. he also plans on looking at climate change package that includes green energy. we could be talking about two trillion dollars. senator tom cotton says there needs to be a shift in the republican party on focus what changes to the law are coming. >> so what the republicans need to do now that this election is behind us is to focus on the radical agenda of the democrats because they're coming in with a plan to raise your taxes and to defund the police, so slash military spending, to open our borders and we cannot allow that to happen. reporter: you can already feel the shift in the halls of congress with more republicans are putting the president at arms length. one note going on outside here, new fence something going up around the u.s. capitol, seven foot fencing like what went
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around lafayette park after the problems from the black lives matter protests there. we have the seven-foot fence going up outside of the u.s. capitol presumably through the inauguration. back to you. neil: edward, thank you very much, edward lawrence at our capitol right now. corner of your screen you're wondering why the heck with all this going on why stocks are up yet again but they are. they are, all major averages racing ahead. with the inevitable prospect we'll see higher taxes, higher investment related taxes. so i understand closure around getting anything that is unknown out of the way to be no knowns as they used to say but this does seem odd or maybe not. danielle dimartino booth joins us, brian wesbury joins us. brian begin with you, end with you. what is going on? what do investors see a lot of panicked americans do not? >> first of all we have to keep politics out of our investing. it has been true forever. this kind of show as lot of people, they goat worried oh the
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other side got in, my side didn't, they want to get negative on the market but that is not really the way to look at things. we need to look at earnings, if you look at 2021 earnings are set to hit a record high. the fed is super easy, interest rates are really low. with a vaccine rollout and just the norm mall dying out of a virus, i think this is the year we go down the other side of the bell curve for that. and the bottom line is, companies have learned how to operate more efficiently, more productively, more postably. that is what is going on here. neil: you know what is also going on here, danielle, the backup of interest rates. i have to put quotations around backup. we're little over 1% on the 10 year. we got down to 3/4 of a percent. do we, and can we expect to see more of that backup? >> you know i think we can.
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the 10-year yield that you're referring to was stuck in the tightest range for the longest period of time in u.s. history because there was so much uncertainty around the future path of fiscal spending of government spending. now we know that path is insured. you're hearing about things like a $2000 check and wall street is simply doing the math. that is all wall street is doing. wall street knows this economy is 70% consumption and that there is going to be a huge injection into that consumption-led economy in very short order because of this blue wave. they like what they see. the flipside of it is, there no such thing as free lunch. we're seeing backup in yields, rise in interest rates, the market starting to factor in, do the math, if we're going to be running multiple trillions, 7, 8, trillion dollars in one year deficits, it is perfectly feasible now because the legislation can get passed
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swiftly, that you would see, you know what? , government borrowing costs should go up to account for that. for the moment despite the fact we know higher taxes are coming, the foot race will be won bit initial injection of consumption directly into u.s. families who will go out to spend that money. neil: you know what is remarkable is looking at technologies, continuedcomback after a shaky start. so it resumed its leading sector ways. tesla rising so much elon musk has become the world's richest man on paper but i'm wondering where you see that going? when you see it brian, now, it is running at a torrid pace, you have tesla at over $800, apple advancing in and out of record territory how do you see it? >> you know, obviously the biden administration and at least a
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bluer, blue congress and senate are going to be moving toward more kind of clean energy. that is one of the reasons that tesla is up and, you know, i'm going to second danielle's comments that when you look at this kind of influx of money coming from the government there is no doubt in the short run it will be boost economic activity. we will have to pay for it in the long run. and then one thing we haven't really hit on here is taxes. when president obama came into the white house in '09 we were still at the tail end of the subprime financial panic. and they could not raise taxes with unemployment at, let's say 6 1/2, 7, 8%. that ask where we sit today. so a tax hike right now, i kind of think is off the table. maybe next year and the year after but that is sort of what happened with president obama. it was delayed. so that sets 2021 up. even though we will pay a price in the future to be a really
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good year just because of those short-term factors. we put off the tax hike and the spending actually helps the economy at least in the short run. neil: i respect the heck out of you brian, i think he is wrong. i have don't support a tax hike. i think it will happen. assuming it does, that is big assumption i will refer to the expertise of brian, something in my gut tells me that, then what? >> then what is a big question, neil, because right now the stock market is in the 99th percentile of valuations looking back to 1881. if you factor in a tax increase, going back to the pre-trump corporate tax rate, just factor that back into the equation and we're off the charts. we're in unprecedented territory in terms of stock market valuations at a very tenuous time in u.s. history. if there is one thing that could
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upset the applecart of all of this influx of spending is, if the stock market was to step back and that is what america keys off of. it has for the past four years. trump owned the stock market. trump equated the stock market to the u.s. economy that could certainly be something that a tax hike which you could push through easily with this blue wave that is certainly something that a tax hike would upset. neil: all right. danielle, final word. brian, great seeing you. safe new year to you both. >> happy new year, neil. neil: certainly last year, guys, thank you very much. you know what was going on in washington. how would you like to be in the capitol when all of this was going down? we've got a congressman who was from oklahoma who was trying to sort of calm the storm. how did he do? next. ♪
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we have to have peace. we have to have law and order. we have to respect our great people in law and order. [shouting] >> the scenes of chaos at the capitol do not reflect a true america. do not represent who we are. >> we want trump. >> the united states senate will not be intimidated. we will not be kept out of this chamber by thugs, mobs, or threats. we will not bow to lawlessness or intimidation. neil: even 24 hours later it seems so surreal. welcome back, everybody, i'm neil cavuto. i always wondered as i was watching images to outside of the capitol what the heck was
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going on inside of the capitol this fellow should know. he was trying to calm the storm. i'm happy to say he is okay. talking about congressman markwayne mullen from the beautiful state of oklahoma. congressman, good to have you. what was it like? >> you know, our men and women in uniform with the sergeant-at-arms and capitol police they did the best job they could. they were responding to a situation that was honestly, i don't think anybody of us was prepared for and they started taking the actions they thought were best at the time but i will say it got, some people there got nervous. there is a lot of members in the chamber that never dealt with a situation like that. i tell i never dealt with a situation like that on u.s. soil. never thought i would deal with a situation like that in the capitol. i was, i'm telling you the heros of this thing were the capitol police. a lot of them got injured. a lot of them were willing able to put their life on the line
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that i got home to my family. their family loves them as much as mine does. i have to say kudos to those goes. neil: you don't like to compliment yourself. you're pretty brave on your part to try to tamp tensions down. i saw a image looked like you were trying to communicate with protesters. >> yeah, we were. neil: it seemed to get quickly out of control, sir. i wonder, what were they saying to you? >> sure. neil: what made them want to storm the well of the house and the senate? >> well, i got to give a shoutout to troy neil, new member from houston was a sheriff down there. when i started taking off my jacket he jumped there with me. tony gonzalez was on his heels. it is definitely not all about me. when that happened what took place, neil, is they hit the glass with some, with a glass puncher or glass breaker, whatever you want to call it. it sounded like gunshots.
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everybody started yelling shots fired, shots fired. i jumped one behind the chair, because the chairs in the chamber are bulletproof. i quickly realized those are not shots fired. when all the capitol police pulled their weapons. i started to say they are not shots, don't fire, don't fire. they were ready rightfully so to start shooting through the door. i said you guys, you almost got shot. was this worth it. they were still yelling. you almost got shot. is it worth it. one of them stopped beating on the door. they actually quit beating at the door started talking. the agitators are the problems behind these riots. one of the agitators came to the door, to be quite frank neil, that guy should have been put down, he was one keeping them stirred up. they quit beating on the door and allowed the members in the chamber to start leaving. because at that time there was still a lot of members on the floor t escalated really quick, really fast. neil: you know, congressman, i'm
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not here to point fingers this was well telegraphed that this march was going to be happening. that thousands were coming to the hear the president at the south side of the white house and the park across the street. that they would be moving up to the capitol. i heard a lot of criticism of the president that he lit the fuse and all that. >> i don't agree with that. neil: law enforcement officials had been aware this was happening yet they didn't seem remotely, remotely ready for the siege? >> you know, capitol police up here have dealt with large crowds forever. that is what they deal with. they were prepared to do so but no one is prepared to have an all-out fight like that. and then you got to make a decision. these guys are, the united states capitol police are armed and it is different than when you're on foreign soil. when you're armed looking at your own u.s. citizen there in front of you are you really going to use lethal force right then when all they try to do is break down a barricade? i think the capitol police did a phenomenal job and resources
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training they had. neil, anytime you are in situation you do a strong debrief. there will be lessons learned. they were outnumbered. our police force is used to being outnumbered. it got out of hand quick a lot more people, i thought the united states capitol police and sergeant-at-arms used great restraint. unfortunately one lady did get shot and lost her life. that officer did what was best. even at the door they showed great restraints not shooting individuals at the door. going into the senate chamber, sergeant-at-arms, capitol police used great restraints not shooting those individuals too. they would have been, they would have been in the right to do so. so i think we can always learn from these mistakes but i would never point fingers and say they weren't prepared. i think they were prepared for what they thought, what they thought they were going to have to deal with. we had never dealt with this before in the united states capitol since much 1812. how would they be prepared for it? neil: yeah. you're probably right.
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you know a lot more. you were right there. you were very calm too. i don't know if i would be quite as calm as you were. congressman i'm glad you're all right. your colleagues are okay. thanks for joining us. >> neil, thank you so much. neil: congressman mullen. we also will talk to congressman jodey arrington, texas congressman what that was like trying to deal with this at the same time you're going about the process of officially certifying the electoral votes to decide the next president of the united states. can you imagine?
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♪. neil: you know they say wall street doesn't focus on the here and now but it looks ahead but sometimes i wonder looking at the here and now with all the stuff going on how the heck is it possible for stocks to be advancing through all of this,
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hundreds and hundreds of points through potential constitutional crisis, electoral vote, all the violence in d.c., on and on, you can read as well as i can, that seems to be a stamp of approval at the corner of wall and broad. but maybe, maybe not. charlie gasparino looking what could be a short term reaction to a longer term issue. good to see you, my friend, what do you make of this? >> it is crazy as you know. yesterday was a dark day in american history. you would expect the markets to be off dramatically on violence and chaos and uncertainty. but you know the street works this stuff out and they act pretty rationally. the what investors are saying is this, joe biden will be president. donald trump and huff and puff and incite riots all he wants. bottom line, joe biden will be president. there will be orderly transformation of power which you saw last night. this election is over and
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fundamentals will reign and fundamentals in terms of the economy and stocks. the economy despite the lousy rollout of vaccine particularly here in new york, it is quite astonishing how inget mayor de blasio and governor cuomo have been rolling this thing out, we got a vaccine and it works. that is a net plus for the economy, particularly travel and restaurant industry and those are big pieces of the economy. we're going to have really low interest rates for a while. here's the other thing that i keep picking up, whether it is true or not, i don't know. the senate is gone to the democrats but it is really quite divided. it is 50/50. kamala harris soon to be vice president will be deciding vote theoretically on major pieces of legislation that could stilt taxes everything one way, something i raised a lot own on your show, but there is a bet
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out there will biden go full on lefty in all these policies which, by getting kamala harris to essentially of course the tiebreaker in all this legislation? you know that is if you think about it, that is pretty thing to swallow she will go far left with a 50-50 congress. that is the bets right now. that is why the markets are up. there is stability on underneath all this chaos. quite frankly trump might be removed from office. that is, that is a theoretical possibility. the markets might go up on that. neil, back to you. neil: boy, what an incredible switch, sign of the times. charlie, thank you very much. to his point, chuck schumer, the presumed to be majority leader of the united states senate as democrats take control is advocating getting mr. trump out of office like now. don't wait. get him out now. easier said than done.
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he has 13 days to go. there has been a switch in positions of among former allies of the president. this might be an example. take a look. >> i will tell you by my actions maybe i among, above all others in this body need to say this, joe biden and kamala harris are lawfully elected and will become the president and the vice president of the united states on january the 20th. neil: all right. that is a big 180 for lindsey graham who fully sported challenges to the electoral vote but a growing chorus call of former loyal allies of the president who now abandoned him, one of many that say the times have changed. the city has changed. maybe the republican party has changed. get the read from trent lott, the former mississippi senator, senate majority leader. senator, always good to see you?
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what what do you make of that? a lot of your former senate colleagues were once subdued challenging the president, now it is open season what do you think? >> well it was a telling event and it was influenced by what happened yesterday. i was just totally saddened and disgusted and dismayed by what we saw happen there in the capitol. worked in and around that building for 39 years. i view it as a sacred place. i think that affected the debate that was going on in the senate late last night. i think more and more senators come to terms with the fact that there is a lot of potential challenges. there is no question there were some mistakes made, some fraud in various states but all things considered it's over and they were going to confirm the electoral college vote and go forward and try to make the system work. with a 50-50 senate it will be a challenge. neil: you know, senator, a lot of your former colleagues, a lot of present ones to the point i
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raised earlier saying this is no longer donald trump's party. we moved on. this has given them the impetus to move on from him. that he is now damaged goods in the republican party. is that right? >> the events of yesterday clearly hurt him. his participation, his refusal to just acknowledge that look, he put up a good fight, it is over. you have to move on. and but i, the republican party has got some healing to do. we got to find a way to reach out to people that we've been losing ground with, maybe because we haven't been doing that good a job or maybe because of what trump was saying and doing. i think he clearly hurt us in our effort to win those seats in georgia the way he handled the $2000 checks and the way he attacked republican elected officials. neil: you think that is what, you think that is what lot it, senator, for these two senators? had the president not done either of those things, particularly jawboning about the vote and reliability in georgia,
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that prevented them from winning? >> well, i don't think it was that alone. i think it clearly hurt, probably depressed to a degree some of our votes and maybe some of the enthusiasm but the other part of it is, democrats, looks to me outorganized us in georgia. they had a massive turnout in the atlanta area. we've got to do some real thought about how we deal with mail-in ballots and all that is going on this year. we got to remember this, do, the pandemic has been the 30,000-foot cloud that has been obstructing our view on some areas. we've got to find a way to get these vaccines and get through the pandemic and get back to focusing on the economy and republicans have got to provide some leadership in that area. neil: you know, senator, we're talking now about a 50-50 senate t was very, very close. when you were the majority leader in and out of that position here but you worked
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well with tom daschle at the time. the democrat, i'm just wondering all these expectations that the senate just rubberstamps everything joe biden wants to do, i know it's not that easy, but what are your thoughts how all of this goes down? how both sides handle it? >> i don't think there is any question that the senate will not be rubberstamping everything that president biden wants. a 50-50 senate is very difficult to deal with. now i do think it's, you know the reason we made it work is because tom daschle and the relationship that he and i had with each other. we respected each other as leaders of our parties. we trusted each other. neil: i remember that well. you guys actually talked to each other. there was a crazy concept. that is the key, number one, communication. we talked all the time. i had a red phone on my desk. when i picked it up it only rang one place, it wasn't the kremlin. it rang on tom daschle's desk.
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we could get around the news media and our own staff. he was critical trying to make it work. by the way after we decided on power sharing arrangement, equal membership on the committees and so forth, we went forward to do a tax cut bill, appropriations, a defense bill and passed a no child left behind, pretty productive five-month period. if we hadn't come to that agreement we wouldn't have been get it done. last time in the '50s it happened took five months to work it out. tom and i basically did it in couple weeks. we still had to sell it to our conferences. some of our republican colleagues didn't like it too much. they basically said, i've been seeing senator schumer say i'm the majority leader. we got the majority. we'll run this place. you know, they still will have to get 60 votes for a lot of things unless they get rid of the filibuster. i don't think that will happen. senators like manchin of west virginia he will won't to
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get rid of filibuster. they can make it work. i hope that senator mcconnell and senator schumer can develop a relationship like tom daschle and i had because the american people deserve that kind of leadership. neil: trent lott, always a pleasure. have a happy, safe new year. thank you for joining us. >> great to be back with you again, neil? neil: all right. trent lott, former leader of the united states senate at a time when things could get done and people are obviously very much passionate about the right way, the left way, but there is a middle way to each side getting something that they like. so it's possible. we'll see. charlie gasparino spelling out markets might get ahead of themselves here. i have want to hear from don peebles, big confidante, financial backer of barack obama, that on that issue, charlie might be right. there are certain policies and goals of the biden
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administration to come that once wall street sort of gets its arms around it, might not like it. after this. ♪ ♪ ♪ ♪ ♪ they were able to give me a personal loan so i could pay off all of my credit cards. i got my mortgage through sofi
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judiciary committee, lindsey graham, said quote, i believe judge garland will be a sound choice to be the next attorney general, a man of great intelik, competency of the law. top justice officials announced as well, they will restore the independence of the department. so it serves the interests of the people, not a presidency. rebuild public trust in the rule of law and work tirelessly to insure a more fair and equitable justice system. neil, when you look at merrick garland, the resume' is as good as it gets. harvard law. he has been the top judge on the second highest court in the land since 2013. neil? neil: yeah, i'm wondering if they will keep a seat warm for him on the supreme court. that is another thing you wonder about. attorney general is not a bad, you know, job filler. thank you very much. blake burman at the white house on all of that.
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in the meantime i want to go to don peebles, of course the democratic fund-raiser extraordinaire, donor and, don, we were talking about the markets and how they were digesting all this craziness, in two words, very well. what do you make of that? if you think about it now with certain live democrats have the run ever the table, the white house, the senate and the house, they could get through as close as it will be in the senate these tax increases, you know, market related tax increases and they don't seem to care? what do you make of that? >> well i think, one, that the, you know, the election in georgia was a little bit after surprise but people saw it coming, markets coming. we have already built into the concept that there would be some form of tax reform, heavily driven by the pandemic. the country will need more resources to help dig us out and
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help the country come recover from covid. neil: so play it out for me. you're a savvy businessman, good read of economy, good read of a lot of things. you're a smart guy. play out this first year of a biden administration. he is still going through, still plans to go through despite skeptics with the tax increases, he assumes he will have support among all the democrats there with probably then the vice president, kamala harris providing the swing vote to get those through. how is, how is all that going to go down? how will it impact the economy, markets, even real estate. what do you think? >> obviously he will get his cabinet seated. once he gets his cabinet seated of course the most important thing is getting the nation vaccinated. much more effectively than what has been happening right now. i think that means the federal government will have to step in
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to take the lead from many of these states like new york which is having a lot of difficulty administering the vaccine. i think he will drill down on taxes and revenue and also how to stimulate economic growth. my industry will play heavily into that. the quickest generator of jobs and economic impact is construction and real estate. so i think we'll see significant tax incentives to increase real estate and construction activity so that we'll create more jobs. then he will have to deal with some of these industries that have been destroyed essentially will be the hospitality industry, the travel and leisure industry and the retail industry. he has a lot to deal with but i think it is economics, day one, after getting people vaccinated. neil: real quickly, your thoughts as well on even if he doesn't get those tax hikes, either thought of a bad timing, or whatever, or there is not
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support there, number of states are going to be raising their taxes. jersey, new york, among those that have considered just that to balance their books to pay for all of this stuff. so, there could still be some headwinds for the economy no matter what happens on the federal front. what do you think? >> oh, absolutely. look, new york, california, especially new york is under significant financial stress. the state and city of new york are under dire financial conditions and are going to need significant federal support. they have already indicated to, political leaders indicated they will raise taxes. and now with a democratic federal government, all three branches essentially, essentially you've got the house, senate and presidency. i think we're going to see some significant tax reform. i think the new majority leader will be under significant pressure to address that as well. so i mean i think that there are
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going to be a lot of headwinds and but new york, for example, has to have significant federal relief. otherwise it runs the risk of being insolvent. neil: yeah. it does. it and a lot of other states. don, thank you very much. happy new year to you. thanks for joining us. don peebles here. they can count on a lot of federal money, part of the big stimulus issue that means we'll be up and spending quite a bit of dough. a read from a texas congressman that says be careful. after this. ♪.
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♪. neil: all right the calm after the storm. it has returned to capitol hill but man, oh, man, it was scary especially for those inside when all of this was going on outside eventually inside. congressman jodey arrington from texas with us now. it had to be a scary moment for you and your staff and your colleagues. tell us a little bit what you were going through. >> neil, good to be with you and i knew yesterday would be a lively debate and a long day.
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i didn't think it would be quite as lively or long but fortunately the folks who perpetrated the lawlessness on the capitol were dispersed and we were kept safe. we have one person die which is always unfortunate because is was senseless act t was unnerving to say the least. it was chaotic and dramatic. i think one of the most disconcerting is for me, here we were in the capitol city and the capitol building and you had all of these rallies and protests, i would have thought the preparedness would be better. the people who were there, the capitol police were brave and resolved and they gave us great confidence. they did a great job but the prepareness was, was not adequate i would say to say the least. neil: you know, congressman a lot of people are pointing fingers at the president he lit
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the fuse, egged them on, stormed the capitol to make their views known. do you think he bears any blame? >> look, the president has said things in the past and in the recent past that are not helpful for sure and sometimes he says things that are just downright inappropriate but i think the people who did this and people who do these things on both sides of the political spectrum, if you will, people who have different ideology associate with different groups, they're the ones responsible. they commit the crimes. they're accountable and we all have to condemn them. there is plenty of heated rhetoric to go around. i think as political leaders we need to be responsible, not just what we do and why we do things but what we say and how we say things. and the president hasn't always been known for getting it right but i don't think his intention certainly wasn't to incite a
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riot. so i hold those people responsible who perpetrated those acts and i condemn them swiftly and i would encourage my colleagues on both sides of the aisle to do that no matter what group, no matter what affiliation? neil: congressman, very quickly, there didn't seem to be any method to the madness. even advising folks like you, congressman and women, respective staffs where to go when this was all going down. that is my biggest concerned. we're told by number of people they had no idea, neither did the capitol police, did their best. obviously this has to be procedures in place god forbid in the future. are you worried it could happen again? >> i was in the white house on 9/11, neil. i had the same feeling. it was very surreal. you thought you were in the safest building and place on the planet and then chaos ensues and you have the barbarians at the
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gate literally breaking glass, shaking doors and it didn't seem like there was much preparedness or organized plan. i think, again the capitol police who were there did the best they could but there needs to be a major postmortem and review and we need beef security up. neil: all right. congressman. glad you're well and your folks are well. man, that was telling you scary stuff. we have a lot more coming up. the dow is up through all of this, teasing records. technology is having a good day. we have a new world's richest man. it is not jeff bezos. we'll tell you all about it.
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♪ ♪ [background sounds] [bleep] [background sounds] >> [inaudible]
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[inaudible conversations] [gunfire] >> everybody stay down, get down! neil: when i see those images, i can't help think this isn't minneapolis, it's not atlanta, it's not kenosha, this is the united states capitol. and it was the focus and attention that rivetted the world bonding what the heck is -- wondering what the heck going on, something that led the chinese to say don't let trump come to hong kong, please. welcome back, everybody, i'm neil cavuto. markets are raising because calm has returned after the storm, but i have to stress they were rising before this, during this and, as i say now, after this.
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we're going to explore some of the reasons why that might be the case as we get official world the democrats -- word the democrats are going to have the run of washington in two weeks after those atlanta and georgia races are done. let's get the read from edward lawrence are, expecting to hear from nancy pelosi later this hour. chuck schumer among those saying the president of the united states should leave office now and forget about waiting 13 days. so here we go, edward. >> reporter: here we go, indeed. about half an hour from house speaker nancy pelosi, but we're also moving into the investigative phase as to what went on here. what's lost in this, there were two actual bombs, viable devices that were found, one outside the rnc headquarters in d.c., another outside the dnc headquarters in washington d.c. several other devices found, but those too had wires attached to kitchen timers and were viable.
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listen to this. >> i've seen pictures of the devices, and they look very similar suggesting that the same person probably did both the rnc and dnc devices at the same time. i can't relate them to any other devices that were found. i don't have information on that at this point in time. >> reporter: yeah, acting dhs secretary ken cucinelli saying other devices were found in northern virginia and d.c., but the two he can confirm were viable were outside the rnc and dnc headquarters. i passed through the national mall, there were no people really, a lot of cleanup going on, a ton of trash and a lot of security in this area. it was very noticeable from capitol police but also d.c. police. >> -- a reward of up to $1,000 for information that leads to the arrest and conviction of persons responsible, and i should add we already are receiving information and
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valuable tips from residents and people who have identified some of these individuals. we will continue to assist the united states capitol police with security. >> reporter: yeah, 68 people were arrested, so far 4 people are dead because of this chaos. there's a state of emergency now that extends through the inauguration in d.c. the mayor can impose a curfew if needed again, and the national guard remains on alert to be mobilized. fencing is actually going up around the u.s. capitol, and this is a 7-foot fence through the inauguration. and as you said, about 30 minutes from now house speaker nancy pelosi will no doubt talk about the actions and what we witnessed yesterday inside the u.s. capitol. we'll have to see if she's going to lower the temperature a little bit or follow senator chuck schumer and call for the president to be actively removed from office. we also have senator lindsey graham in dueling news conferences at the same time. he's going to talk about his concerns going forward with what happened and where things should go.
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back to you. neil: edward lawrence, thank you very much. by the way, edward just touching on it, this move to get the president out of office like now. that's chuck schumer leading that cause. joe manchin is going to be one of the more important figures in the united states senate, swing vote from west virginia saying on this issue no matter what course of action is taken against president trump in 13 days joe biden will be sworn in as president of the united states. until then, i urge the good men and women serving in the federal government to please stay at their posts for the protection of our democracy. the actions of a rogue president will not and should not reflect on you. instead, your patriotism and economy. s to the greater good of our -- commitment to the greater good of our country will be rewarded. we'll get that into, but i want to get into this with alice, the
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hill reporter -- alex. this move on the part of chuck schumer and others to see the president removed if not impeached right now, the latter would prevent him, i guess, from running for office again. i don't know how true that is, but what do you make of it all? >> yeah. good to see you, neil. so that's exactly right. this is not just a solution for right now. we're seeing chuck schumer calling for this, we're seeing a republican in the house, also calls for it, and it could be a preventative measure so that the president doesn't try to run again in 2024 as he's alluded to and his supporters want to sad by. of course, we saw a lot of republicans in the senate who were in opposition of the election results, ted cruz,ecteo are expected to run again in 2024 the, so they're all on the side with the president here. but invoking the 25th amendment
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could have future repercussions for trump later once he actually leaves office. neil: you know, alex, i've got a case of whiplash are just trying to keep up with lindsey graham, his constant positions on this. he was all for the electoral vote challenge, then he dropped it. no doubt as others did because of the violence on capitol hill yesterday. but he's clearly distancing himself, and he's not the only republican who is. what do you think? >> yeah, lindsey graham has been such an interesting case throughout the trump administration because, you know, he was an ally for the president, and now he, like you're saying, is really distancing himself. we'll see lindsey graham come out within about 20 minutes here to do a press conference -- neil: right. >> and i'm curious what he'll say is. because last night late on the senate floor he, you know, disavowed the opposing the election results. he was not a senator that then joined in at the end to do so.
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he is a, has been in the senate for a long time. he's an institutionalist, and i think the events of yesterday might have been a turning point for him that now he's ready to maybe speak out even more so than he has been against the president. neil: it is interesting, you know, the distance that a lot of republicans have now with the president, and a lot of it could have to do with the fact that, look, now we feel more comfortable challenging him because we lost the senate. obviously, the violence yesterday. does he or are you hearing from your contacts and sources, are they now moving on post-donald trump not only to post his presidency, but post his being a party figure at all? >> you know, the republican party has a lot of fixing itself to do. i mean, democrats had the same situation with the divisions -- neil: true. >> -- with the far left of the party, same with the republicans. and i think a lot of them in
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congress are trying to look beyond what the president has done for the party and move ahead to how do we navigate the biden presidency, how do we navigate this 50-50 senate with vice president-elect kamala harris being the tie-breaking vote and how can we stay unified as a, you know, senate minority, house minority and be a united -- come across as a united front again. and i think they have a lot of questions that they need to answer now. but what we saw out of the senate last night with folks like lindsey graham, of course, mitt romney who's never backed down from being critical of the president -- neil: right, right. >> -- i think they're already looking in that direction of how can we fix our caucus. neil: all right, alex, great seeing you, "the hill" reporter, following these fast moving developments. also trying to get a glean what the president is thinking, but
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good luck finding out because he's all but shut down on social media, twitter likely for the rest of this term, but with we don't know about that for sure. maybe in a couple hours it could come back, but we do know on facebook and instagram he is sort of social media persona non grata, again, through the rest of his presidency, so 13 days. susan li following all of that. susan, what do we know? >> yeah, neil, social media sites are doing something they've never done before, and that's locking president trump's account. facebook and mark zuckerberg going even further this morning, extending it, he says there'll be a place on his facebook and instagram accounts indefinitely, at least until the next two we'res, until the peaceful transition of power is complete because he said in his view president trump has no intention of a peaceful and lawful transition of power. meantime, twitter telling us here at fox that we will continue to evaluate the situation, they say, in realtime, and we will keep the public informed including if
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further escalation in our enforcement approach is necessary. now remember, president trump's twitter account, it still seems to be locked at this hour. three tweets that violated the platform have been removed. but it's not just twitter and facebook, snap has also locked president trump from his account, shopify said that they are terminating stores that are affiliated with president trump. now social media, of course, has been feeling it and hearing it, they've been criticized for giving president trump too many leeway, helping incite the violence, and we have seen increased policing since this summer's george floyd protests. but that policing only applies to conservatives according to can gop members and president trump. and there's also backlash that it's not just president trump, other world leaders have also tweeted calls for the past for violation with also no repercussions -- violence. twitter says their tweets and posts are akin to public policy
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announcements. meehl? neil: all right. great stuff. great reporting on that, susan, thank you very, very much. all right, so what happens to the president in the next 13 days, what can he do, what can he not do? let's get the need from christopher nixon, he's, of course, the grandson of richard milhouse nixon, former president, of course. christopher, great to see you. happy new year. >> happy new year to you, neil. great to be on. neil: you know, i was thinking of your granddad and, you know, controversies notwithstanding how he handled what was one of the closest elections in american history up to that time in 1960 when, as a sitting vice president of the united states, he had to write off, certify, if you will, formalize the electoral vote win of john fitzgerald kennedy. i'm sure it had to be very tough for him. but the way with he handled that -- that was a controversial election, a lot of people say
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some of the same things we're talking about now in this latest election were happening back in that election. a lot of republicans said, you know, mr. vice president, you've got to fight this, and he opted not to. it did him okay because he went on to fight another day. but explain that process and what was going on. >> sure. i mean, it was certainly a gut-wrenching process. it was one of the closest elections in american history, only a few hundred thousand votes separated kennedy and my grandfather in certain areas, like in a state like illinois, for instance, and in texas there was widespread reports of voter fraud. of course, we know the daley machine in illinois, texas, the lyndon johnson influence was quite strong, and that was the way elections were conducted back then in those days. so we had either strong suspicions or proof that there was some sort of voter fraud. but my grandfather realized that proving that would be very difficult and that the business of the country had to go on. it was a close election. he was a young man, and he
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realized he could live to fight another day, and he did what was the right thing, which was he accepted the results of the election even though they were flawed for the good of the country and decided to move on. now, of course, for him he was able to come back eight years later, run for president and win, and there was a lot of sympathy for him in the republican party which made getting the nomination easier, and a lot of people felt he really was robbed which was, of course, giving him a great tailwind in 1968. is so i think he played -- neil: what about donald trump in that respect, because he didn't do that -- and he might have had valid reasons to be at least questioning some of these results. maybe not to the degree he did, but had he, he might have cemented a better rationale for running in 2024. now that seems extremely unlikely. and and with all the republicans abandoning him, maybe pleatly unlikely. what -- completely unlikely. what do you think? >> i think that as a general election candidate, it'll be very difficult for president trump to come back in four
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years. of course, he has a record where he's accomplished a lot in terms of deregulation and cutting taxes that many of us are happy with, but i think the events over the last two months and especially over the last 24 hours have really hurt his ability to come back as a viable general election candidate. i think the question becomes how much of his base remains with him and how strong will that base remain in the republican party. for instance, in georgia in two years raphael warnock, who was just elected senator, will come up for election again. how much of a role will the president play in determining who is the challenger to raphael warnock. that will determine the direction the republican party goes and how viable republican party candidates will be going forward, and i think's really where the political discussion should evolve to and should look to. neil: you know, christopher, you were very instrumental in the development of your grandfather's library, the renovation of that library -- a heck of a library, by the way. and i'm just wondering if donald
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trump, he, too, a presidential library comes with the territory, so to speak, in this modern era. but you've got to garner financial support, a lot of backers. he's burnt a lot of bridges. is it going to be difficult? >> i think the president has a core of very strong supporters, both financial and otherwise. of course, libraries have gotten very expensive at the point, but i still think there is a core that will potentially still support him. so i think he will have the ability to raise that money. and then the question is where does he want to put it, where would it be accepted. i think it might be hard to find universities that would accept it. so it may be locating it will be somewhat of a challenge unless he decides he wants to put it near his home in mar-a-lago. i think that will be the challenge for him. neil: all right. christopher, great to speak with you again. my best to you and your family in the new year, be safe. christopher nixon cox, he's on
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the richard nixon board foundation, has served the american people very well during all this time. we're going to go back to the capitol, one of the things that sticks with me, i know i sound like the old colombo character, how is it possible that they got in there and, further more, that the people who worked in there couldn't leave there? after this. ♪ ♪
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aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to that's a-e-r-o >> you have to go home now. we have to have peace. >> we will not be diverted from our duties. >> the united states senate will not be intimidated. >> joseph r. biden jr. of the state of delaware has received 306 votes. donald j. trump with the state of florida has received 232 votes. >> use us to bring healing and unity to our hurting and divided nation and world. ♪ neil: all right. all well and good now, but it was pretty scary then, and this was something viewed by the entire world. this was happening not in a city
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where there were racial and other protests, this was at the united states capitol where protesters got inside the offices of mitch mcconnell, nancy pelosi and a host of others and had the full run for hours. how could that have happened? and what message does it send? and does it give ideas to folks we do not want to give good ideas like terrorists and bad guys from around the world? joining us right now, bernard kerik, always good to see you. thank you for taking the time. i thought of you immediately, i was wondering like the idea this gives people who have only bad ideas of the united states. what do you do you think? >> absolutely. it sets forth a bad precedent because we had anarchists that invaded our united states capitol. this is supposed to be a sacred place, and we saw a fracturing as a result -- as it relates to the public safety at that
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complex. neil: we're learning, darin, that chuck schumer will be the new democratic leader, in fact, he'll be the senate majority leader, says he's going to fire the senate sergeant at arms after this capitol breach. what do you think of that? >> well, it's safe to say that the capitol police didn't conduct a valid intelligence assessment to determine who was coming, why they were coming and the number of people overall. that assessment was a very critical component that would have provided a greater fortification for the capitol police to insure that our elected officials can convene in safety. it just didn't happen, and so chuck schumer moving forward, i guess he wants to make some changes at the top, and this would be the first person on the chopping block. neil: you know, i know it's very easy to play monday morning quarterback and all this, and i'm not a security expert, you are and then some, my friend. we did know that these
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protesters were coming, we did see the schedule that they were going to be going to the south side of the white house to hear from the president, that they were then going to march up to the capitol. so all that was well telegraphed and planned. now, i know this has never happened certainly since around, what, 1814, the last time, you know, there was this invasion -- >> the british. neil: -- of the inner sanctum of the capitol, right, but i'm just wondering why this wasn't more preparation -- there wasn't more preparation for the possibility. >> you know, that's the million dollar question, why wasn't there enough preparation? because this is clearly something that i know, you know and the common citizen knows that there was going to be a protest in the wake of donald trump's statements in connection with election fraud. that being said, you needed to have a more robust component. and if you didn't have the personnel at the capitol, that's fine. you can triangulate with the d.c. metro police, coupled with
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the national guard who all came in after the fact. but this should have been forward planning to insure that this was a safe environment and, unfortunately, it didn't happen. it's a lesson learned, and a teachable lesson should be extended to the next administration, whoever's in charge moving forward to assure that this never happens again. it can't happen because this is an attack on our democracy as the united states of america. neil: do you think the president provoked it? >> well, i think that -- i look at this as charlottesville ii for the president, when you think about it, when you look at the statements that he made after charlottesville, this was consistent with what's happened here. he didn't help the situation, and i think that as the leader of the free world, he could have done more. but unfortunately, he didn't. and as a result, this is what we experienced. i don't want to blame it all on the president because he didn't crash into the doors. but at the same token, he does
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incur a level of responsibility. neil: so good seeing you, thank you for giving us some perspective on this. just incredible, like you say. darren porcher, former nypd reporter. why stocks are up after all this and why bitcoin, believe it or not, is over $30,000. and we have the world's richest man, jeff bezos, his stock is up a lot more today. you know what stock is up a lot more? if tesla. you know who's a lot richer? elon musk. do you know who's the world's richest man? elon musk. ♪ these days, it's okay to do some things halfway... but taking prescriptions shouldn't be one of them. so cvs has a proprietary search tool that looks for savings.
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neil: all right, with all the delistig
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china companies wave, don't delist them, back to delisting them, has now expanded to three companies and looking to expand that, a host of other chinese firms. lauren are simonetti keeping up with all of that. hey, lauren. >> reporter: yeah. neil if, it's actually heart to keep up because this list keeps growing and changing. but president trump's recent hard-line moves against china's biggest companies is now pushing china higher on president-elect joe biden's agenda and helping to determine how hard a line he will take against america's biggest competitor and, well, let's face it, our biggest threat. the latest action is "the wall street journal" report of a potential ban on americans' investments in alibaba, which we know is the amazon of china, as well as ten cents which owns the popular wechat. the reason is alleged ties to the chinese military. now together they're worth more than $1 trillion.
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but, neil, why alibaba whose founder, jack ma, has been laying low and also a harsh critic of china's president, xi jinping? here's the reason. beijing's grip over its private sector, private enterprise has reached new heights including an antitrust probe into alibaba as president xi is emboldened to consolidate power ahead of next year's party conference that could give him five more years in office. and what will president-elect joe biden do to stop him? biden recently telling "the new york times," and i quote: the best china strategy, i think, is one which gets every one of our at least what used to be our allies on the same page. but is some sort of grand a alliance coalition of western powers even possible now? we have four years of president trump's go it alone approach, tariffs on nearly $400 billion of chinese goods, and you did have a recent investment deal between the european union and
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china. the other open question is will president biden leave intact his predecessor's recent orders, especially the most recent ones? it is what the transition team says, he will, quote: suspend and review late-stage executive actions by mr. trump. so you have the app ban, this potential ban, the delisting, the list goes on. neil: and on and on. thanks for helping with it, lauren, because i'm lost. i don't know where that's going. lauren simonetti following all of that. wonder what jack mcintyre, carol ross think of all of thatment we forget about the china thing, carol, what if it starts as it ended, with a bumpy ride? we've been at each other's throats for a while, and that won't ease right away. what do you think? >> yeah. i think it's one of the things that the market hasn't considered yet and could be a huge drag on the global economy.
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obviously, china is having a lot of issues in hong kong, they have made some overtures in terms of what they're going to do with taiwan and, obviously, the historical democratic stance has been very different than what president trump has done. so i think that china, should they try to flex their muscles, could end up being a huge issue under the next administration. neil: you know, jack, i've been following this chinese press and how they've been responding -- state press, more to the point -- the violence yesterday in the capitol. it really is essentially not so fun, is it, america, when that kind of thing happens, so maybe you shouldn't be lecturing us what's going on in hong kong. but they are trying to put a wedge on this, aren't they? >> yeah. and, you know, the irony is i kind of agree with them the a little bit, you know? i know that administrative officials are now getting calls
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from ambassadors saying, hey, wait a second, what's taking place at the capitol is taking place at other countries' capitols, the u.s. would be telling these guys get your act together, so we're probably not in a position to throw stones from saw that standpoint. and i agree, we're in an economic cold war for the and china. this is not just going to be around for the biden administration, administrations after that. we've got to learn to deal with this. it's not going to be a big deal for markets. i think certainly for the first six months of this year, but after that, yeah, i think it's going to appear on investors' radar screens. neil: i'd be remiss if i didn't take a look at what's happening on the side of the screen, we're noticing that technology stocks are on a tear, the nasdaq up better than 300 points. just a couple of days ago, they would have thought to be cooling it, and they're not cooling it. the other averages racing ahead, but for technology, what do you make of that? >> i think that there was some
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concern that perhaps under the new administration that there would be a big crackdown on technology stocks and antitrust, but the reality is that the biden administration is a big business-friendly administration. they have stacked the cabinet with folks from wall street and people who served on boards like facebook, and so the likelihood here is that technology may end up with some sort of slap on the wrist. but if there's any, you know, meaningful legislation that comes out, it probably is anticompetitive, it probably ends up helping these big technology companies at the expense of small business like keeps happening over and over again. and i think that once that information's really thought through and digested, that concern at least for the time being was a little bit allayed. neil: jack, it looks like joe biden is still set to raise taxes and that now with the
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senate under democratic control if he takes office, he'll be better able to. what do you think? >> so, okay, neil, this is what i think, you're seeing this sort of reflected maybe in the dollar today which is having a pretty good move. okay, if i really do -- we're going to get higher taxes, but the pecking orders, we're going to get more stimulus first and then taxes may be a 2022 development or something along those lines. and, you know, it goes back to i think why equity markets are are doing well, you know? it wasn't a blue wave. yeah, sure, it's a 50-50 split in the senate, but the re34reu7bs took -- republicans took a big chunk of seats in the house. so i don't think we're going to see the tax increases which we would have under sort of a bigger, broader blue sweep. and i think markets are kind of reflecting that. neil: all right. guys, thank you both very, very much. in the meantime, we're getting a
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statement from mitch mcconnell on the united states capitol security. the sergeant at arms has been recommended to be fired by chuck schumer who will be taking over the senate, but mitch mcconnell, who will soon be the minority leader of the senate, the rancor yesterday lies with the individuals who tried to disrupt our democracy and with those who incited them. but this fact does not and will not preclude our addressing the shocking failures in the capitol security posture and protocols. so after all the violence, now getting to the bottom of what caused it, after this. ♪
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neil: all right. add elaine chao to the growing list of trump cabinet and
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related officials who are leaving now rather than sticking around for another 13 days. she writes: our country experienced a dramatic and entirely avoidable event as supporters of the president stormed the capitol following a rally that he addressed. i'm announcing my resignation as u.s. secretary of transportation to take effect on monday, january 11th. i hope my successor, maybe pete buttigieg taking on the responsibility of running this wonderful d. with all good -- department with all good wishes. this was addressed to her colleagues at the transportation department. of course, she is the wife of mitch mcconnell, the senate republican leader, who also separated himself from the president yesterday in the challenge to the electoral vote, but it's a list that now includes the deputy assistant to the president on europe and russian affairs, stephanie grisham, the chief of staff for the first lady, matthew pottinger, his deputy no robert
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o'brien, the national security adviser and, of course, mick mulvaney who simply said i can't stay here. former budget director who was our ambassador representative in northern ireland. a growing list saying we're going to reeve right now. all right -- leave right now. all of this occurring at a time when politics is still very much in play, and the big republican powwow on amelia island, florida, that's not going to happen right now. phil keating on that rnc meeting and what happens now. phil. >> reporter: neil, the republican national committee is meeting in a daylong closed-door session today just down the beach inside the ritz carlton. the 180 or so members of the committee strongly condemning the riot, the chaos and the disorder at the u.s. capitol today. the meeting, the winter meeting is really all about electing officers and discussing the
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future of the gop especially in light of president trump not winning re-election. many were already expecting a glum atmosphere inside after what happened tuesday in georgia where in both of those runoff elections democrats won giving the democrats full control now in washington, and then yesterday afternoon happened. in a very strong and terse statement, chairwoman ronna mcdaniel said without blaming the president, quote: what these violent protesters are doing is the opposite of patriotism. it is shame. , and i condemn it in the strongest possible terms. there is no place for violence in our politics regardless of which side you are on. the fbi is also investigating two pipe if bombs found near the rnc headquarters in washington as well as the democratic national committee headquarters. those were discovered during the hours and hours of chaos at the capitol. both described as identical
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looking. a metal pipe with end caps and wires running from the pipe to a plastic kitchen timer. now, as of last week president trump was fully expected to come down here and address the meeting in person. that then changed over the next several days that -- and so then last night there was word that maybe he would send a videotaped statement today. that got killed as well. however, "the washington post" just reporting that the president did call in to the meeting this morning, was put on speakerphone and was roundly applauded with some people yelling we love you. neil? neil: all right. phil keating, thank you very much. phil keating in florida on all of that. we were getting word just now wrapping up there that nancy pelosi is still going to be addressing the press. it was supposed to happen by now. she's pushed that back to 2 p.m. eastern time, the same time that president-elect joe biden is set to announce his choice of
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attorney general, expected to be merrick garland. you might remember him as the fellow that barack obama had chosen to be the next supreme court justice after the death of antonin scalia, and that was killed by then-republican leader mitch mitch mcconnell in the senate, but he lived on to fight another day as attorney general of the united states. ♪
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>> welcome back to "cavuto coast to coast," i'm gerri willis. first, some good news about taxes. second round stimulus, like first round stimulus, is not taxable. so that $600 you got in the mail from the federal government, $1200 if you're married filing jointly, that's not a taxable event. good news. however, unemployment pay, that is taxable. the new stimulus law extends unemployment pay of $300 per week for most people through march 21st. increasing the maximum number of weeks that you can get these benefits to 50 from 39, and that could spark a very big tax bill.
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listen. so, in fact, you could end up paying thousands of dollars in taxes. watch for form 1099-g coming in the mail to pay those taxes to figure out how much you should pay. now, flexible spending accounts, a series of three small things. flexible spending accounts usually you use it or lose are it, but this year only those funds do not disappear, and medical expenses can be written off if the amount is more than 7.5% of your adjusted gross income. that threshold was supposed to set to 10%, but congress changed it to this new permanent level are. business meal deductions are going to 100% even for delivered or takeout meals. and finally, the most important changes the incoming biden administration now with a majority in congress have repeatedly said he would raise taxes on those earning $400,000
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or more, that top tax rate will reset likely to 39.6% and social security payroll taxes on wages will go up as well for people in those brackets. back to you. neil: all right, gerri, sorry for the confusion there. have no idea what happened there. gerri willis. with us right now, jack mcintyre and carol ross. we do know there's going to be taxes hiked, we do know that's the goal at least of joe biden, but, carol, we also know that the market likes a lot of government spending these days. everyone seems to be, you know, pro-spending like it's going out of style. i'm wondering whether that offsets the fear and the impact of hire taxes? >> yeah. i mean, i think you've got two things. one is the markets like cash for cronies. they're going to get stimulus, they're going to hopefully see some growth from the that, they're going to expect
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infrastructure spending and at least in the short term i think that's -- in terms of the taxes too, again, given the fact that this is an administration that is friendly to wall street, to the elites, to big business, even though the marginal rate may go up, you may not see a big difference on the effective side. you could have something like the s.a.l.t -- neil: carol, i'm very sorry to jump on you, very sorry. the president-elect is speaking right now, presumably to announce the remaining cabinet positions including attorney general of the united states with a very familiar name. joe biden. >> -- clear in everything he has done. he unleashed an all-out assault on the institution of our democracy from the outset, and yesterday was what the culmination of that unrelenting attack. he's attacked the free press who dared to question his power, repeatedly calling the free press the enemy of the people.
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language at the time he first used it i and others said has long been used by autocrats and dictators all over the world to hold on to power, the enemy of the people. language that is being used now by autocrats and dictators across the world, only this time with an outgoing president of the united states of america. he's attacked our intelligence services who dared tell the american people the truth about the effort of a foreign power to elect him four years ago. choosing instead to believe the word of vladimir putin over the word of those who have sworn their allegiance to this nation, many of whom have risked their lives in the service of this nation. he deployed the united states military, tear gassing peaceful protesters in pursuit of a photo
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opportunity in the service of his re-election, even holding the bible upside down. the action that led to an apology from the chairman of the joint chiefs of staff and an outspoken denunciation of the use of military for domestic political purposes from scores, scores of former military leaders and secretaries of defense. led by secretary cheney. he thought he could stack the courts with friendly judges who would support him no matter what. they were trump judges, his judges. he went so far as to say he needed nine justices on the supreme court because he thought the election would end up in the supreme court, and they would hand him the election. he was stunned, truly stunned when the judges he appointed didn't do his bidding and
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instead acted with integrity, following the constitution, upholding the rule of law. not just once or twice or three times, but over 60 times. let me say it, over 60 times. in more than 60 cases in state after state after state. and then at the supreme court judges and people considered, quote, his judges, trump judges to use his words, looked at the allegations that trump was making and nothing was judged to put this election in question or doubt by any of these judges. you want to understand the importance of democratic institutions in this country? take a look at the judiciary in this nation. take a look at the pressure that it was just subjected to by a
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sitting president of the united states of america at every level, the judiciary rose to the moment during this election, did ited job, acted with complete fairness and impartiality, with complete honor and integrity. when history looks back on this moment we just passed through i believe it will say our democracy survived in no small part because of the men and women who represent an independent judiciary in this nation. we owe them a deep, deep debt of gratitude. and then there is the attack on the department of just test. treating the attorney general as his personal lawyer in the department and his personal law firm. through it all we would hear the same thing from this president, my generals, my judges, my attorney general. and then yesterday a culmination of an attack on our institutions
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on our democracy. this time the congress itself, inciting a mob to attack the capitol, to threaten elected representatives of the people of this nation and even the vice president to stop the congress from ratifying the will of the american people and just completed free and fair election trying to use a mob to silence the voices of nearly 160 million americans who summoned the courage in the fates after pandemic that threatened their health and their lives to cast that sacred ballot. i made it clear from the moment i entered this race that what i believe was at stake, i said there was nothing less at stake than who we are as a nation, what we stand for, what we
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believe. what we will be. at the center of that belief is one of the oldest principles of this nation has long-held, where our government of laws, not of men, not of the people. of laws. i said it many times in the campaign. our democratic institutions are not relics of another age. they're what set this nation apart. they're the guardrails of our democracy. and there is no present -- that is why there is no president who is a king, no congress that is a house of lords. a judiciary doesn't serve the will of the president or exists to protect him or her. we have three coequal branches of government,


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