chair, editor-in-chief, steve forbes. he is my former boss. ask you both this. first to you, congressman, a piece by doug schoen and andy stein in "the wall street journal" suggesting that hillary could be the democrat candidate in 2024. will we see a rematch with trump? >> i will say this, hillary clinton was not an impressive candidate. i can't imagine the democrats would do that as republican i would be ecstatic. for america, here is the bigger question. 350 million people in the country. many of them are brilliant. i feel like america's best days ahead. focus on future, get new energy, get new blood. get new vision. i do not think rematch of 2016 will get that to americans. elizabeth: we feel your sunny optimism, congressman. to you, steve, it is not a good look "the hill," "politico," cnn, "new york times" talking about replacing biden on the ticket because of his bad poll numbers. there is talk of switching up the matchup. "new york times" is talking about a biden-liz cheney ticket. what do you think, steve? >> show

maria: here's steve forbes. go ahead, steve. jump in. steve: congresswoman, you rightly talk about the republicans needing something positive. are you going to put together a good, vigorous tax cut proposal to put for the american people. washington wants to raise taxes. maybe a flat tax or a big tax cut like reagan did. >> i with love to do that. i would love to see greater tax cuts or a consumption tax, flat tax, fair tax. i explained this to my kids. when they look at their allowance, it's $10 a week. if i were to take half of it off the back for the federal government and you pay mom a tax every time you want to buy something, they're like oh, my you're only left with a few dollars. i'm like this is how the government works. they're not there yet. one of the big things i would like to see happen, i'm a big fan of the penny plan. it could be bipartisan. the penny plan would take a penny off for every future dollar of federal spending, you balance the budget in five, six or seven years. after that you increase spending by 10% and chang

steve forbes. hank, as we watch expectations for interest rates on the move this year, what's your take on allocating capital in 2022 we are expecting multiple rate hikes from the federal reserve. >> well, maria, first of all, a correction is long overdue. we have not had a correction in the s&p 500 since the bear market almost two years ago and that is very unusual. we've had very, very little volatility over the course of 2021 and we seem to be making up for it right now. that said, look our expectation is for much more modest returns in the equity markets, probably single digits. but it's still going to be a better return than the alternatives. in our view, we are still in a tml market, there is no alternative and fixed income is going to be much more challenging for investors than equities and in an inflationary environment, you want to be in equities over fixed income and so adjust your expectations for more volatility and more modest returns. maria: so, hank, i want to know how many hikes you

as i pointed out to steve forbes, the markets don't like it when he struggled. you have to land on something. so he landed on, he landed the plane on, no. no the virus is not with us. well, the virus is with us in europe and around the world but it is not with us the way that it is right now. we have therapeutics and other things that he mentioned that we need to be doing that he's not really doing. it is fascinating. now, they are not god. but my goodness, a little prayer might do us some good right now. emily, sorry. >> emily: yeah harris, it was your turn, please. >> harris: i thought it might be interesting to hear from eric schmidt peered eyes watching him on fox and friends this morning i thought, these are the people that are going to be heard for what was set up to happen today the u.s. supreme court. here's a little bit from him. >> i think we're going to have an epic and historic constitutional showdown at the supreme court. with the essential question of, can an agency like this, unelected bureaucrats without statutory authority, require and force the

do you want to take that on steve forbes? >> were talking about gouging, how about gouging taxpayers on your student debt, will leave that aside and go to her point there is price gouging you made instances of it anytime you have inflation they look for scapegoats i mentioned christians in the roman time they blamed christians in the lamed which is during medieval now they blame price gouging corporation, knows that government policy whether the disasters with the hippo supply chain, printing too much money, spending too much money those inflicted by the government not by businesses. stuart: the strange thing the squad in the far left members of the democrats, their seats are safe they don't lose this year it's the moderates who will lose this year. it is because of the far left i don't know what is going to happen but it's not a good situation when the far left keeps winning in the moderates lose hands down i think the republicans will win hands down in november. >> republicans will do well in november if they don't find a w

steve forbes chairman of forbes media with his initial reactions to the president. >> well, it really is -- a lot of it is a fairytale. before the covid crisis hit american unemployment was lower. lower income, people's wages were rising at a faster pace than the rest of the workforce and things were going in the right direction. he has hobbled recovery from covid as lockdowns ended. lockdowns on oil and gas is raising energy costs, the build back better which is the biden big bill massive tax increases would hurt job creation and the growth of the economy. massive spending he wants and wants more of will mean more money printing which will mean more inflation down the road as the federal reserve has to finance the deficits. you put it all together he has taken something where if he had done nothing he would look like a hero today. they are standing in the way of recovery rather than enhancing it. they throw roadblocks to it. the vaccine mandate the way it was done. a country like spain did persuasion to have people get vaccines. here public shaming. people leaving the workforce becau

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steve forbes joins me. steve, the markets keep shrugg ing off covid so what's the problem for the market? >> well i think what the market is doing and you see that it's being more picky about stocks, you seen what's happened to the tech stocks, they are going to be looking for stocks and better weather the shortage inflations that's coming. as you know the markets always look to the future. the number of cases of omicron have gone way way down and they see we're going to get over it and this part of the drag down on the economy should be ending, certainly in the moderate states and the red states, who knows what new york is going to do but even there they are going to have to back off. stuart: i want to show you a headline in the new york times it's on the front page this morning. i read it earlier today, and it talks about china. supply chain woes could worsen as china imposes new covid lockdowns, and we've just heard that china will not allow any spectators at the winter olympics, which start in a couple

steve forbes, karl rove, karol markowicz, joe concha. some of in the media tried to paint the protest in d.c. as extremist vax march. it was not. it is antimandate. i'm not against vaccines, i'm against mandates. the time to wind them down. that is my opinion and "my take" next. ♪. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. ♪. stuart: 10:00 o'clock eastern time monday january the 24th, i bet when our viewers woke up the first thing they want to know what is the state of the market, anymore selling after last week, huge sally the answer is there's more selling the dow is down 600 points, the s&p done 100 and the nasdaq is down 355 this is a major selloff, the whole year has been a major selloff. look at big tech really coming on sharply when you have a bit of a comeback microsoft reach 282 now it is 286, apple at 158, alphabet 25, 34,

what a great time to bring in steve forbes. steve, what's going on with this sell-off? how are you reading this? >> i think the markets are finally realizing that interest rates are going up. the federal reserve, as you know , ashley, has promised this spring no more bond buying. well they've been financing over half of the federal debt up to now. whose going to buy those bonds without the fed there buying them? $80 billion a month, and so that's going to put interest rates up which is going to impact mortgage markets and the like so the markets are finally realizing there is some tough economic headwinds coming, the federal reserve has printed a ton of money and to keep that money damned up, we're going to have the kind of inflation that we saw in the 1970s. ashley: exactly, so really, gotta take your said medicine here, time now, a reality check and you know, could this , this economy should be able to handle these small raises in interest rates, right? >> the economy be able to handle it if the federal reserve just got out of the business of trying to manipulate inte

steve forbes is with us. we've been talking about this all morning, steve. covid is raging and the markets are doing very well. can you explain this? >> i think the markets are see ing that this variety of covid is going to not only is it like a flu or cold for most people, especially if you had the vaccines but also, as dr. siegel noted by the end of the month the worst is going to be over so the affects are thankfully small for most people it's widespread. it's going to be gone and the markets always try to anticipate the future, but not what's happening in the present. stuart: that's fascinating, steve. you think that is the primary reason for today's rally? the fact that omicron is going to rocket through real fast and be gone in a month or so. that's your big deal. >> that's right, and then the markets going to start focusing on other things and may have to do so sooner depending on what happens in ukraine and elsewhere and what the federal reserve does, but the big fear that we had a few weeks ago about omicron shutting things down like the delta varia

this is from steve forbes. so he is a little bit of a, a hyperbolic guy, and i'm on his own. but if you read some of the stuff coming out of the white house, it suggest this could be an accurate opinion about what we're going to see. there is growing talk that if inflation doesn't ease soon, the white house may impose, quote, the temporary price controls on voters instead of products such as beef, chicken, gasoline, heating, oil, and various prescription drugs. this has never worked in history, and if the price controls no matter where you apply them, you'll see the inflation pop up somewhere else. and there's no way, once the inflation janie's out of the bottle and policy makers refused to accept the fact that it's too much money printing that's causing the inflation. no, this is just going to be a continuing story that is never gonna stop until we have some kind of bomb capitulation. and, you know, i mean, this is all very predictable. you know, when you print trillions and trillions of dollars to it all started 2008 when they bailed out wall street. but from 2008 to 2022.

steve forbes talked about that in 1996 when he ran for president. americans love that. it makes the tax code really simple. all the special interest provisions are out of the tax code. i was mentioning this massive multibillion-dollar billionaire giveaway under the current code. and it gives a special tax breaks for big media. the billion dollar tax break for trial lawyers. $3 trillion tax break for union bosses. we shouldn't use the tax code to give away special favors to powerful groups. host: we are going to show you a little bit from jerome powell. he basically gave an assessment on the economy. while you are doing that, we will play you what jerome powell said about the economy and get a perspective on it. >> economic activity is on track to expand at a robust pace. aggregate demand remains very strong. the rise in covid cases in recent weeks along with the emergence of the omicron variant pose risks to the outlook. notwithstanding the effects of the virus and supply constraints, fomc continues to see rapid growth. the median projection for real gdp growth stands a

want to go to steve forbes right now. steve on that day a year ago, what were you thinking? >> i thought it was a disgrace. it was a shock. one of the shocking things that this commission neil is not going to examine is why wasn't there that fence that normally goes up before an inauguration, that creates a perimeter around the capitol. why wasn't that up there? these demonstrators, these rioters shouldn't have gotten near the capitol. part of that some democrats didn't like they were militarizing the capitol. so if they're going to have a examination, examination of everything. it was obscene. it was a bad thing. the president reacted too slowly. they should have a thorough investigation. why isn't that the fence up there that is always up there before an inauguration. neil: is it up there as early as january 6th. >> oh, yes, because the inauguration is january 20th. usually several weeks before they start doing those kind of preparations. it was not done this time. neil: in retrospect do you think president trump at the time thought this would unfold the way it did? >> tha

. >> sandra: you and steve forbes are in that. >> he's the master of it, yes. >> sandra: it is really something, that news about venmo. if you sell cars on etsy, they are coming for your money, and not the big guys, the little guys. great to have this discussion with you, and great to see you. >> great to see you. >> trace: the supreme court may decide the fate of affirmative action on college campuses nationwide. will the attempt to diversify classrooms be dismantled? >> sandra: and pushing out the newly minted district attorney as crime runs rampant in new york city. we will be joined on this, whether congress can support police and cities with soft on crime policies. join us live next. >> it's going to make it safer, common sense, i don't understand the pushback. here we go... remember, mom's a kayak denier, so please don't bring it up. bring what up, kayak? excuse me? do the research, todd. listen to me, kayak searches hundreds of travel sites to find you great deals on flights, cars and hotels. they're lying to you! who's they? kayak? arr! open your eyes! compare hundreds of trav

i mean i go back to steve forbes always saying a flat tax, fill it out on you know, the return should be the size of a postcard? that would be a dream, would it not? >> yes, but here's the thing, ashley, it is about, it's a function of our representative form of government. have you ever heard a senator running in new jersey say vote for me, i got you the same deal as the people of california? not how it works. they write in special provision provisions, and every time you write in a new provision there is more complexity. ashley: wow. to your point then to wrap this up, mark, if you want your return try to avoid human intervention as much as possible, go online, do it online and have a direct deposit, right? >> that is exactly right. ashley: all right. you heard it here first. mark everson. are you one of those that gets it done early? >> no. you know i've got a complicated return and, you know, that's, that is just how it is. ashley: all right. i get it. thank you so much, mark. appreciate your time today on the upcoming frustrating tax season. we have been warned. >>> coming up aft

steve forbes, dr. marty makary, tammy bruce, "the faulkner focus" top of the hour. >> dana: drivers of car leases that are about to run out could be sitting on a huge pile of cash. that expiring leash turning into a gold mine potentially. jeff flock explains. he is in willow grove, pennsylvania. hi, jeff. >> good morning to you, dana. yeah, how things have changed as a result of the shortage of cars out there right now? i'm at a lexus dealership in philadelphia. do you know how many lexuses they have on the lot, new ones? they have a total of seven. it has changed the equation when it comes to leasing. look at an example of somebody who leased a 2019 chevy tahoe three years ago. that was worth $49,000 when they leased it. after three years of depreciation typically it would be worth $28,000. that's what the buy-out is. what is it really worth now because of the shortage of car? almost as much as when it was new. if you take the buy-out and turn around and sell it yourself you make $17,000, almost $18,0

steve forbes talked about that in 1996 when he ran for president. americans love that. it makes the tax code really simple. all the special interest provisions are out of the tax code. i was mentioning this massive multibillion-dollar billionaire giveaway under the current code. and it gives a special tax breaks for big media. the billion dollar tax break for trial lawyers. $3 trillion tax break for union bosses. we shouldn't use the tax code to give away special favors to powerful groups. host: we are going to show you a little bit from jerome powell. he basically gave an assessment on the economy. while you are doing that, we will play you what jerome powell said about the economy and get a perspective on it. >> economic activity is on track to expand at a robust pace. aggregate demand remains very strong. the rise in covid cases in recent weeks along with the emergence of the omicron variant pose risks to the outlook. notwithstanding the effects of the virus and supply constraints, fomc continues to see rapid growth. the median projection for real gdp growth stands a

good afternoon, president brandon, vice president adams, port director forbes, members of the public. i'm steve weil, deputy director of engineering, and as brad mentions, we identified 23 embarcadero projects on the map. they're distributed pretty equally across the embarcadero, and all of the projects are however, and the cost to deliver all of them exceed our funding. we have five projects in that stretch through the development of geographic property and other potential sources of funding, and the next slides, i'll detail the air risks and projects. in south beach, seawall risk is not quite as high. the soils are better under the seawall, and as a result, it's more stable in earthquakes, and the risks of lateral spreading is generally low, except for a hotspot near mission creek. sea level risk rise here is emerging. this is a high level of seawall among the embarcadero, and however, wave activity is also generally a bit more here. so in response to these risks, we've identified three projects with two moving into predesign. a retrofit on the wharves, a seawall earthquake stabiliz