tv The Intelligence Report With Trish Regan FOX Business December 11, 2017 2:00pm-3:00pm EST
this election could be consequential. could make a difference between 52-48 republican senate. you know the math if they do. i have done the math for you for people at home so you don't have to. that is the service we provide. trish regan. trish: we'll be hearing from the white house any minute following a terror-related incident in the heart of new york city this morning a 27-year-old bangladeshi national set up a explosive device and attempted to create massive destruction but thankfully only three people suffered non-life-threatening injuries. the big question, will they keep this up. what will they do about it? i'm trish regan, welcome to "the intelligence report." this according to reports was ininspired by isis and he has been in our country seven years. has he always been rad can and if so, why the heck was here? terrorism expert dr. sebastian gorka joining me in just a
minute. we're keeping an eye on on the alabama senate race and spending reform. i want to head to connell mcshane. this is horrible news on the latest who this terrorist was and what he is telling authorities because he is in custody now. hi, connell. reporter: hey there, trish. akayed ullah was living in brooklyn for some years. he was working as new york city cab driver, a job he gave up in 2015. he was originally from bangladesh. if you're working towards a motive we're working for clarity. our corporate cousins at the "new york post" have a story on their website where they quote that the suspect is speaking to authorities, they have been bombing my country and i wanted to do damage here. unclear what he was meaning by that he was from bangladesh originally. this guy had a explosive device what the authorities describe as
a low level explosive device strapped to his body, and it went off at 7:20 in the middle of morning rush in an underground tunnel. it is a destroys according to authorities he may have made on his own. nypd counterterrorism chief john miller adds this. >> the device is based on a pipe bomb. it was affixed to his person with combination of well very and zip ties. bottom bomb squad is in the process along with special agent bomb technicians processing the bomb seen and we'll have better idea what the device was put together with and what it was designed -- reporter: we look at photograph of suspect taken moments after the device was detonated, his injuries were the most serious
by far. serious wounds where he is treated at bellevue hospital nearby. other commuters only suffered minor injuries. trish, you brought up key questions out there, authorities do not believe there were coconspirators working with akayed ullah and that is something we need clarity on. the city of new york is all but back to normal here in the afternoon. the traffic is flowing. the subways are working again. some of the stops are being bypassed around 42nd street. that is all expected to be all but back to normal by the evening rush. governor cuomo, the governor of new york announced we should be on the lookout for enhanced security measures for number of different places. he specifically mentioned airports, bridges and tunnels and mass transit systems, places like mass transit like the port authority bus terminal. that is where we are as investigation continues here in manhattan and the suspect's home
out in brooklyn. back to you. trish: connell mcshare. joining me with more, fox news security strategist and author of the best-selling book, "defeating. >> jawed." dr. sebastian gorka. dr. gorka, he had been inn our country for seven years. we don't know when he was radicalized. he was here from bangladesh. he has been here for seven years. does this get us back to the issue we talk about so much we have to be very careful who is in our country? >> absolutely ish interest. this is why one of the president's very first executive orders was travel moratorium that has just been upheld by the supreme court. we have a broken immigration system, utterly bankrupt and also politicizeed under the last administration. we look at the last new york attack. that terrorists sponsored more than 20 individuals to come into this country.
the killers from san bernanadino, the state department was not allowed under the obama administration guidelines to look at an applicant's social media postings for reasons of privacy when social media is a public platform. for myriad of reasons we have to have a halt of people coming from hotbeds of terrorism and we have to fix the system so we don't have attacks like this happening at the rate they're occurring in europe. trish: in some ways i guess we have to be prepared for it simultaneously knowing these people want to cause us so much harm. isis put out some propaganda, dr. gorka, quite recently basically targeting times square, london, and paris as well. all places that they hate because of the freedom we have here. how much more vigilant do we need to be in new york city and not just new york city, all over
this country right now, as we head into the christmas season? >> all of us have to be vigilant really wherever you live. as you rightly pointed out jihadists made it very clear, they have given instructions to their adherents, the pressure cooker bomb, details how to make that, the boston bombing bomb was in al qaeda manuel. they told their jihadists go to areas where there are high concentrations of unarmed civilians. a metro station is exactly that. a bicycle path a christmas fair. everybody needs to stop staring at their phones as they're walking down the road, be aware of their surroundings. see something, say something, isn't just a catchy bromide, sort of empty phrase, it can save lives. i grew up in the uk in the '70s and '80s when the ira was at its deadliest, every day people would be aware.
we weren't living in fear. if you saw unattended bag or something suspicious you reported it immediately. in some cases it saved lives. trish: what about one acting suspiciously? >> absolutely. if it is 90 degrees, somebody is walking around in a big parka, it is suspicious. very important to understand when it to these attacks somebody doesn't wake up one morning to decide to kill people the next day. they surveil, they collect intelligence. we know this with every significant attack. they surveil. if you see something suspicious, why somebody video recording an ugly bridge, not something beautiful but just something that no tourist would be interested in, that is how we caught one of the biggest rings here in america, more than a decade ago because somebody saw somebody filming something suspicious. anything of that nature. don't be afraid. you will not get in trouble. if the san bernanadino neighbors of san bernanadino killers reported the suspicious activity they saw that couple engaged in,
those 14 people may be alive today, trish. trish: dr. gorka, the people are afraid because they don't want to be seen as seen phone big. they don't -- xenophobic and they don't wand to be seen. neil: trish regan i have ireland all over my face. you may not be concerned about sebastian gorka or someone named trish regan, when we talk about isis attacking us there is a reality a lot of people don't want to admit but it's there. >> we have to stop worrying. at 12:01 on january the 20th, that oppressive political correctness was dealt a deadly blow by somebody called donald trump. as soon as he became commander-in-chief, as soon as he got back on to twitter after the inauguration he sent a very clear message, political
correctness can get people killed. we're not going to allow it to drive policy or make people afraid of reporting what they deem to be suspicious. so yes, in the past, maybe, under obama, under eric holder, absolutely you could get in trouble. political correctness was king. now we have kryptonite of political correctness in the white house, donald trump. as such people should no longer be afraid to report things they see as suspicious. trish: dr. gorka, thank you very much. >> thank you, trish as we await, everyone, white house briefing about to get underway momentarily i want to bring into the conversation former nypd commissioner bernie care rick -- kerik, and former fbi agent buck sexton. he was targeting tunnels boeing to times square, why did he choose port authority in your view? >> first of all we're glad him and his device was pretty much a dud, right? why does he pick port authority,
why does he pick times square? you probably have between half a million and a million people that will to through that hub on any given morning at that time. so if he had a device, the device was substantial. the device was working, he could have caused a lot of damage, a lot of death, and enormous amount of chaos. trish: a paying bomb like that could? what is -- >> he had a defective device probably. smaller device low-tech. i heard reports five to 8:00-inch pipe bomb, the way he had it strapped to his body. he probably picked it up out of "inspire" magazine or somewhere else. with somebody that knew what they were doing with a backpack on that was loaded with explosives, we would have had chaos. in this case him and his device were a dud and we're lucky for it. trish: you've been here for seven years, buck.
he was from bangladesh. bernie said he may have picked up how to make the device from inspire which, from the perspective of the cia, in terms of the what the cia is trying to do to go after these guys, seems you should have a list of anybody who has a subscription to "inspire" magazine, or a log-in or somehow, can you know when they go on the internet and they're looking at this because, you know, while we're all for privacy, we have a reality going on here as well? what is the cia doing? >> trish, law enforcement and intelligence agencies are trying to monitor jihadists as best they can online but as you know there is a very big internet. a lot of people are running around involved with jihadist propaganda and those doing research on it or trying to understand better themselves. we don't know if he was radicalized in bangladesh or occurred when he was here on u.s. soil. that is really important
question that i think law enforcement and investigators will be able to answer in days ahead of the that will tell us something what could be done here to prevent this attack. trish, there is sense we're all breathing a sigh of relief that nobody was killed or seriously injured in this attempt but this was an attempted suicide bombing in the heart of new york city in the holiday season. reminder to all of us the threat is very real. this is what we've been expecting for a while based on what appeared in islamic state chat rooms. they have been saying hit america, isis adherents hit whoever you can one of our enemies over the holidays. and they even as we know posted things about times square and christmas specifically around explosives this is what happens when you have enough adherents around the world willing to go out and be self-starter terrorists. trish: what do we do? bernie, you know new york city well. you had to keep new york city
safe. what can law enforcement do right now to make sure a guy isn't successful doing this? >> well look, they're doing the best they can. first you have, this is new york city. you have more investigative resources, more intelligence resources than any other municipality in the country. they're constantly working with the joint terrorism task force, the fbi, the cia who is coming in. trish: how can you stop isn't. >> you will not get everyone. the unfortunate thing it is impossible. you will not get everyone. fortunately this guy was less effective but buck is right, i mean you've got to stay vigilant. nobody should be surprised by this. when i got up this morning i got a text this happened. nobody should be surprised this happened. they're promoting it. they're coming to do this. unfortunately for us we're a substantial target. trish: what does it gain them,
buck? why do they want to do it so badly besides bragging rights how many americans they kill? what is the goal here? attention? >> they believe they're engaged jihadist where is they have connections to the islamic state or jihadists or self-radicalized. they're thinking they are in holy war in the struggle against non-believers. anything they can do to lash out at us, the more innocent men, women and children they can maim, murder, their greater role in the the jihad. especially attacking civilians in the holiday season or mass transportation hub like this is a big part is psychology. this individual's bomb didn't go off. he didn't have good terror tradecraft as we say in the business but a lot of people in new york city, trish, as the commissioner knows, they will be worried when they get on the
subway. when they gather near rockefeller center to look at tree, they think in back of their minds, what if. a part of vigilance is good but part of the terrorists goals, major goals, keep us in constant state of fear and anxiety to make us change our daily routines. >> i want to point out to both of you our own job roberts that is reporting that he came within the united states america the chain migration system. the chain migration system. if you are in bangladesh and you have family members coming over from bangladesh, we don't care whether they are qualified to be here or like america or want to be americans we bring them because somehow they're related to you. this gets us back to that issue, bernie, how this has to change. we have to rethink how we approach immigration. there is nothing wrong saying that. we want best people, brightest people, most hard-working, most
patriotic. >> that is the best thing the president talked about the why. i'm against the random coming into the country, the anchor baby stuff where people come in here and you know, they come to visit. their wife has a baby that baby become as citizen. they have access to the states anytime they want. there is number of things within the immigration system that is wrong with it. i think the president, while he is in office has got to get it changed. trish: indeed. i think he will. bernie, buck, thank you very much. good to see you guys. >> good to see you, trish. trish: expecting to hear from the white house. i wouldn't be surprised the issue of chain migration come up again. this is something that shows you the fundamental flaws in our immigration system. when we talk about immigration reform, again we need the best people coming to this country in order to grow this country. we don't need people who are liabilities. and we don't need people who want to attack just because they happen to be related to somebody who is already here. it is all coming, at a very
important time because we have got a lot going on. the market is up 42 points because the expectation is we're getting closer and closer to a tax bill that might actually get passed by christmas. but in their haste to get it done they're missing a few things. they're missing a lot of things. for example we're learning that a little-known provision in the senate bill could slap small investors big time with higher taxes. why are corporations benefiting so much, but mom-and-pop investor but a regular earner isn't? we'll talk about all that and point out these flaws when i see you here next.
trish: let's listen to sarah huckabee sanders. >> this attack comes as our coalition continues to make great gains against isis. still there is more work to being done on the ground in isis shrinking controlled areas. but we must also destroy the evil ideology behind isis in attacks like today's. this ideology has no borders but it must be eradicated. president successfully rallied the world around this cause. we will not stop until this is accomplished. with that i will take your questions. francesca. reporter: thank you, sarah, i want to ask you about women came forward about the president,
first we were on a television show. then they were at a press conference and they said that he should resign and then also that there should be a congressional investigation. i know that you said that this is already been litigated in the last election but i wanted to get your specific reaction to this idea there should be congressional investigation into this. >> look, the president addressed these accusations directly and denied all of these allegations, and this took place long before he was elected to be president and, the people of this country had a decisive election, supported president trump. we feel like these allegations have been answered through that process. kristin. reporter: sarah, thank you. one follow up, a little bit of breaking news we learned about, pentagon will allow transgender people to enlist in the military january 1st. reaction to that, any follow-up action you will take. >> as of right now they're
simply complying with a court order and preparing to implement a previous policy to remain in compliance. the department of justice is currently reviewing legal options to insure that the president's directive can be implemented, for anything further, any specifics on both of those matters i refer you to the department of defense and department of justice. >> one follow-up -- >> i will go. reporter: nikki haley's comments -- >> i will pick that up. >> she will pick that up. reporter: nikki haley said, went out and election, settled issue which you've been arguing from the podium here. she said i know he was elected but women should always feel comfortable coming for war. we should all willing to listen to them, specifically referring to accusers of the president. does the president agree with him? >> as the president said himself he thinks there is good thing women are coming forward, feels strongly a mere allegation shouldn't determine the course, and in this case the president
has denied any of these allegations as have eyewitnesses in several reports have shown those eyewitnesses also back up the president's claim in this process. and again the american people knew this and voted for the president. we feel like we're ready to move forward of that pros. reporter: accusers are coming forward now? >> president said good thing for women to feel many could for thible coming forward, generally speaking. jacqueline. reporter: want to go off of that, sarah, the president told howard stern in 2005 he walked into a teen beauty pan ant dressing room, where teen contestants had no clothes on because he could get away with things like that. is that not admission of sexual harrassment? >> president spoken about this directly. i don't have anything further to add. doing one question. to move around. reporter: isis attack in new york city, isis inspired attack in new york city, and, just recently, is the president
concerned there is a growing threat against people inspired by isis who have been radicalized online? >> i think the president is certainly concerned that congress, particularly democrats have failed to take action, in some places where we feel we could have prevented this specifically the president's policy has called for end to chain migration and if that had been in place that would have prevented this individual from coming to the united states. so the president is aggressively going to continue to push forth responsible immigration reform and any chain migration would be certainly a part of that process. matthew. reporter: thanks, sarah. the president he reacted quite angrily to "washington post" reporter's tweet about crowd size that quickly deleted. explain the discrepancy between the president's reaction to incidents like this which he fault fake news and talks quite a bit about, his silence on actual disinformation campaigns like russia ran during this 2016
election to deliberately, spread false information so both his silence on that, does he recognize the difference between these two? >> difference, look the president simply calling out a very direct and false accusation lodged against him. there was nothing more than an individual trying to put their bias into the reporting. and something that frankly has gotten a little bit out of control. we've seen time and time again over the last couple weeks, a number of outlets had to retract and change and rewrite, make editor's notes to a number of different stories. some of them with major impacts including moving markets. this is a big problem and something that should be taken seriously. reporter: any difference between reporters mistakes and disinformation campaign by foreign government. do you see distinction. >> i haven't spoken with him about that, we would take any disinformation about that very seriously but not something we're comparing two on.
reporter: sarah, journalists make honest mistakes, doesn't make it fake news. when journalists make honest mistakes and sometimes you don't. i'm sorry. i'm not finished. there is a very big difference between making honest mistakes and purposely misleading the american people. something that happens regularly. you can't say i'm not done. you can not say -- reporter: shouting -- completely fake, sarah, he admitted it. >> can not say honest mistake when you're purposely putting out information you know to be false or taking information that hasn't been validated, that hasn't been offered any credibility and that has been continually denied by number of people including people with direct knowledge of an incident. this is something that -- i'm speaking about number of reports taken place over last couple weeks. i'm simply stating that there should be a certain level of responsibility in that process. hold on, jim.
reporter: this is not the line of questioning that i was going down, can you cite specific story that you say is intentionally false that was intentionally put out there to mislead the american people. >> sure. the abc report by brian ross. i think that was pretty misleading to the american people. i think that it is very telling that individual had to be suspended because of that reporting. i think that shows that the network took it seriously an recognized that it was a problem. reporter: if i may, i was going to ask a question -- >> you use it on something else. reporter: sarah, if i may. >> keep moving, guys. reporter: ask about the other accusations. >> moving to a different. reporter: i didn't get a chance the one i wanted to ask. >> jim i'm saying once and for all i'm moving on to jim simpson. i'm not taking another question. reporter: attacks on -- that is okay. i would like to ask the question that i have, accusations misconduct against the president. you said that he is denied
whether or not they are false? >> i'm not going to respond to that question. jim. reporter: some investors are saying tax reform package favors mutual funds over individual investors. other critics who want tax reform say the bill will cost tax increases for a few middle class tax-filers. tens of thousands, but maybe more. will the president sign the tax bill even if there are inadvertent tax increases in some of the criticisms are correct? >> as i said many times before our focus and our priorities are making sure that we provide middle class tax relief, simplifying the code, bringing businesses backs here to the u.s. we'll continue pushing for that. continue working with congress to make sure we get the best tax package possible. john? reporter: thanks a lot, sarah. tomorrow there is a special senate election in alabama. back on sent the 23rd the president went down to huntsville, alabama, campaigned alongside of luther strange and since that time he never went down.
in the course of the campaign, the campaign alongside republican nominee, roy moore. was the president embarrassed in terms of campaigning alongside roy moore? is that the reason why we didn't see him down there in alabama? >> look the president has spoken directly about this race and who he supports and who he doesn't. due to the regality of that i'm not going any further and would refer you back to his past statements. april. reporter: what is the connect white house, candidate trump bringing accusers of bill clinton to the debate, and now accusers of roy moore making accusations and his accusers? what is the disconnect here? >> as the president said he found the allegations troubling. if they were true then he should step aside. ultimately the peel of alabama will make a decision in that race. reporter: what about his own accusers. he has accusers as well. >> president has first-hand knowledge of what he did and didn't do. he can speak directly to those.
he has. he addressed them. i don't have anything further to add. reporter: ask the american public about this? this is spinning and focused on him? >> he addressed it directly to the american people. reporter: more people are now speaking out. >> keep moving. reporter: i understand. this is huge issue sarah. >> there are a lot of big issues today. i'm trying to cover as many of them as possible calling on number of our colleagues. i called on trey. and move to him. reporter: come out and address this please. >> he has, april. i already said, i already addressed. the president has addressed it. i don't have anything else to add. >> sarah, suspected terrorist in new york city was described as a bangladeshi immigrant. bangladesh is not on the president's travel ban list. does today's attack change way president trump does travel restrictions? >> we do know the suspect was admitted to united states after presenting a passport displaying an f-43 family immigrant visa in
2011 and so we know that the president's policy calls for an end to chain migration, which is what this individual came to the united states through. and if his policy had been in place, then that attacker would not have been allowed to come in the country. that is why the president pushed not for one part of immigration policy but responsible and total immigration reform. that is why we have to look at all sectors, do what we can to make sure we're doing everything within our power to protect the american people. olivier? reporter: thank you, sarah, at top of your remarks about isis, in new york city, your talk about the need to destroy ideology and would-be attackers. what policy changes are required to do that? how do you defeat an ideology attempted since 9/11 with no great success? what are you doing differently? what can you do differently in order to do that? >> i think one of the best ways we have moved forward is in a
process where we're allowing the members of the department of defense to aggressively move forward defeating isis and in hopes, annihilating a lot of that evil ideology through part of that process. we're going to continue to pushing, continue looking for best ways possible to make sure we protect americans. jessica. reporter: thank you, sarah. two quick oneses on korea. on sanctions would come number of days and secondly, the republic of korea ambassador, do you have any comments? >> on the first part we're working through a legal process and again, hope to have details further on that. a little bit more complicated once we get through that we'll walk through a little more detail on the reason for some of the delay. and on the other, i don't have any personnel announcements or comments at this time. go ahead. reporter: sarah, comment about the suspect in new york, does
the white house have, does the white house have any proof this suspect was radicalized outside of the united states? he has been a lawful permanent resident living here for some time? >> i can't get into further details on that front at this point, if we have any i will -- >> why would his chain migration be an issue? >> there are certain parts i'm allowed to discuss at this point in the process. that is one of them. anything further i can't get into at this point. as soon as i can i will be happy to let you know. reporter: -- president announced this afternoon, will he call for increase in spending for nafta? will there be commercial partnerships or reduce nasa funding in other areas such as either science which includes study of climate change? >> i will not get ahead of president's announcement coming later today. we'll have further details once the process is completed. cecilia. reporter: >> two questions, who are the eyewitnesses made allegations
against the president? can you say without a doubt, 100% certainty more than dozen women who came forward to accuse this president of misconduct are lying? do you wrestle with this personally at all? >> i'm here to speak on behalf of the president. i can say the president has directly responded and said these allegations are false and that is what i'ming doing, relaying that information to you. in terms of the specific rye witness accounts, there have been multiple reports, be happy to provide them to you after the briefing. brian. >> follow up on that question a little bit. as a woman standing up there talking to us, i know your job is to relate what the president says, have you before been sexually harassed -- i'm not saying by present i'm saying ever? secondly do you have empathy for those who come forward because it is very difficult for women to come forward? >> i would say i have empathy for any individual who has been sexually harassed and that is certainly would be the policy of the white house. i'm not here to speak about my
personal experience on that front but i'm here to relay information on behalf of the president and that is what i'm focused on doing here today. >> [inaudible]. following up on president's announcement last week -- [inaudible] jerusalem current capital of israel. protests violent protests, changes to the vice president's schedule as he goes through the region. does the white house acknowledge, the president acknowledge that disincreased tensions in already-volatile region? >> look, we're continuing to urge calm and willing a meeting and discussing a peace deal. violence is always going to be the responsibility of those who carry it out. not the president or anyone else. and again, we urge individuals and groups to remain calm and we want to continue working with our partners, allies and others in the region to continue moving forward on the peace conversation. reporter: more than violence.
about meetings being canceled. about diplomatic outcry from governments, pope, the likes of -- why is it beneficial the u.s. interests president declared if all those groups, all those countries and allies are condemning that announcement? >> look the president is taking a bold and courageous action on law that congress passed and failed to implement for the last couple of decades. the president simply moving forward and taking that action on legislation that congress has supported time and time again. reporter: sarah, following up on that, president abbas said he will not meet with vice president next week. does the president have reaction to that? doesn't it mean that the u.s. is effectively taken itself out of the peace process when one side won't even show up to meet with the united states? >> we certainly hope not. we find it unfortunate that they're walking away from the opportunity to discuss the future of the region but the administration remains
undeterred in its evidents to help achieve peace between israelis and palestinians. our peace team remains hard at work putting together a plan. we'll continue to push forward. take one last question. phillip. reporter: sarah, the lassus speck of terrorism were not trained in syria or iraq. thursday the russians operation said that they had gotten rid of isis in syria. saturday the iraqi prime minister said this fight against isis is won. why would the u.s. still need to fight on the ground there? >> look as long as there is any member of isis left we want to continue pushing forward and making sure, not only that they're eradicated, they don't quickly turn around and come back. we'll continue to push forward making sure we do what we can to defeat isis on all fronts, and certainly we do what we can to protect american lives of the thanks so much, lives.
trish: wow, just another day at the office for sarah huckabee sanders. you saw it get very contentious, some reporters, specifically one from cnn, really pushing to try to get his question in. and one reporter actually going so far as to ask her if she had ever been sexually harassed herself. she made the point she is not there to talk about herself. she is there to relay the facts in terms of what is going on within the white house. joining me right now with reaction, moody's chief economist john lonski and fox news contributor deroy murdoch. i know we'll talk about taxes and the tax plan but before we get to that, wow! deroy murdoch, that was quite a scene. i want to briefly play for the viewer one of the highlights. this is the exchange here between her and cnn correspondent jim acosta who effectively becoming a thorn in the administration's side, that is putting it politely. often times his questioning, has gotten extremely aggressive to
the point where it is no longer even respectful, but in today's particular case, he was going after her because there are some women came out, these are ol' allegations said that the president harassed them. he wanted her response. here we go. >> journalists make honest mistakes that doesn't make them fake news. but the -- >> when journalists make honest mistakes they should own up to them. reporter: we did. >> sometimes. a lot of times you don't. i'm sorry, i'm not finished. there is a very big difference between making honest mistakes and purposely misleading the american people. something that happens regularly. you can't say -- i'm not done. you can not say -- reporter: that was completely fake, sarah, he admitted. >> you can't say it is honest mistake when you're purposely putting out information you know to be false. or taking information that hasn't been validated, that hasn't been offered any credibility and that has been continually denied by number of people including people with
direct knowledge of an incident. this is something that -- i'm speaking about the number of reports that have taken place oaf the last couple weeks. i'm simply stating that there should be a certain level of responsibility in that process. trish: that is indeed the frustration at that this administration has with the media. that is the core of it, deroy. there is a lot of reports out there, some of which are totally untrue but they make their way into the mainstream media. sarah huckabee sanders is on front line of fighting back on some of this stuff. enough. this just isn't right. your reaction to that exchange? >> this is supposed to be news conference. more like a news debate with some of these people who don't just ask questions, engage in very contentious back and forth which i think is unseemly an inappropriate to the setting. as to the whole problem of fake news or at best very sloppy news, we had huge stories like the brian ross story last week supposedly candidate trump sent mike flynn to the russians.
oops, it wasn't candidate trump. it was president-elect trump. when flynn was talking to russians doing his jobs, trying to establish ties and links of incoming situation with diplomats of 30 different countries. other report of wikileaks being in touch with donald trump, jr., was december 4th. it was december 14th. that was the day this became public. awful thing they did was send donald trump, jr., information already public. so much for insider deal there. i think you have a lot of very biased journalists eager to lynch donald trump at any given opportunity. as consequence they're not doing basic things they ought to do which is check their facts. >> john lonski, i certainly want her on my side. she is tough with them. >> yes, she very much is. the question now becomes who do you trust for information? who do you trust for news? you see a news conference like this, average american comes away with the impression i don't necessarily have a lot of confidence in the mainstream
media, as far as getting the facts straight and as far as knowing what type of news to emphasize, what is more important. trish: don't go anywhere. i do want to talk taxes with you. >> okay. trish: this bill is not entirely as it seems. there is some flaws that matter to you, out there, and matter to your investments. so we're going to point them out. we'll be right back.
trish: the market is slightly higher today with gains in technology and energy. the dow is up 30. nasdaq doing the best here, apple up half a percent. bitcoin, we've been talking about it, almost every day now, because well, it is now trading for the very first time at the cboe. bitcoin futures are closing in on $19,000, on first day of trading before pulling back slightly under 18,000. the cme will start trading bitcoin futures next week. tax reform is getting closer to being passed, everyone. the only problem this bill isn't doing all it was intended to do. sure, corporations are getting a big break. theoretically that will help with job creation in the stock market. but i'll tell you one thing, this bill is incomplete, and it espn liesing individual, high earners. it espn liesing american letting
fat cat, wall street private equity investors getting away with paying less tax than say, i don't know, a new york city fireman? doesn't seem right. didn't our president promise to fix that? >> there are reasons the hedge fund managers are all donating to hillary clinton's cam and not to mine. everybody getting rich off the rigged system and who want nothing to change and nothing, they don't want anything to change, they want to keep it the way it is, are throwing their money at hillary clinton. we will eliminate the carried interest deduction, well-known, deduction and other special interest loopholes, that have been so good for wall street investors and for people like me, but unfair to american workers. the hedge fund guys won't like me as much as they like me right now. i know them all but they will pay more.
trish: i can tell you they won't pay more. you know what? they like him, well, as much as they can like him, given that this is new york city. they like him a lot right now, you know what? those private equity guys and gals, share taxes aren't going to go up. they will still get away with treating their income as investment. and that means the percentage they pay is a whole lot less. you know what? if this wasn't bad enough, we just learned everyone, this bill is penalizing individual investors big-time. so in other words the private equity twice get away with paying less while the individual pays more? come on, washington. come on president trump. i mean don't just give us lip service. if you really care about the little folks show us what you can do. this is horrible. gerri willis joins me right now with more on this new red flag, shall we call it in the bill. >> you're right, trish this is amazing. listen to this. the house and senate meeting to
hammer out differences between the tax bills. one small difference is a provision in the senate bill that could cost them big-time. that provision would force small investors raising cash by selling partial stakes in individual stocks to unload their oldest shares first. it is what accountants called first in, first out. selling those shares the oldest in the portfolio would likely cause a higher tax bill. the senate included this provision, hey, they could raise $2.4 billion over 10 years. one investing organization says small investors are already complain about the provision, quote, our members don't think it's fair. it takes away a lot of their flexibility. and charles schwab had this to say, the company, to congress, quote, the current requirement investors sell shares according to a first in first out methodology is unfair to the individual investor. investors should have the freedom to choose which of their specific securities to sell. we remain hopeful the fifo
provision will be modified or dropped. and this, we just got our hands on this today. this is a letter that the ceo of ups sent out late last week informing his employees and former employees what is going on. ups is a big company for stock compensation plan that is 70 years old. these folks invest in ups stocks. it's a core principle. he is warning them about the fact that their taxes are going up and telling them to complain to congress. so that's big turn on the story. also, we want to know still unanswered, how would this affect portfolio rebalancing? how would it affect dividend reinvestment? we have a lot of questions. they aren't answered but i tell you, small investors are steamed up, and they could be selling before the year is out. trish: unbelievable. i'll tell you, gerri, we care about mom-and-pop investors. >> that's right. trish: we care about individual americans. we care about people out there trying to earn a living and working for a corporation.
and i'll tell you the more we look at this thing you see corporations are doing great. hey, you know i'm all for that. you are too, right? >> right. trish: we need healthy corporations if we are to have healthy economy but when it comes to wage earners they're getting the short end of the stick and it's not right! >> i agree. you have your finger on the pulse of this one. trish: gerri willis. thank you so much. we'll be right back.
if we talk about tax reform and it gets closer and closer to passing the question is do we want this thing passed because it's favoring corporations at the expense of individuals. that's what is happening here. i know you tried to tell me i should take the sum of the parts and the overall it's going but gosh darn it i think they could've done better and now learning today that they are going after the individual investor who is going to wind up paying higher taxes they could have done more and they should do more. what is happening here. they ran into your budget constraint. the federal debt is now at 77 percent of gdp. they lost a lot of maneuverability given the fact when you have revenue neutral
fiscal stimulus which is what they're attempting today. there's can be a lot of losers along with winners. half is better than none. they could've offered individuals a better scenario. the way this looks if you are commercial real estate and men's investor. you get a condensed appreciation investor. you are able to pay a lower corporate tax. there are a lot of things here that would favor people and those that actually paying the taxes i mean really paying them because you know of the
top 10% are paying 70.1 percent of all tax revenue. 70.9 percent of all federal income taxes those people are not getting a break. >> it's very simple. three tax rates instead of seven. 15% corporate tax. if they have done that i think it would be a lot better than where they had ended up. a complicated baffling mess. i think a that complicated kathleen ms is better than the status quo. they're just adding more wrinkles and loopholes to this. lower rates as low as possible. instead we had seven or eight coming out of the senate the top tax rate of 44.6 in some cases. we should go back to the very
simple proposal. all the way down to seven. that doesn't create anything at all. we liked what we heard in terms of the swamp is at work. and the lobbyists are on this. the president is speaking right now we understand let's go to the white house. especially mike as i said i want to thank you. we also welcome astronauts christina, thank you very much. she recently returned from the international space station and station and is now spent an incredible 665 days in
space. you will have to explain that. that sounds tough. more than any other american. more than any woman ever. finally we are honored to be joined by apollo astronaut jack samet almost to the minute. he became one of the last americans to land on the moon. i think we will be finding other places to land in addition to the men. we will find some other places out there. the director i'm saying today. they will refocus the space program on human exploration and discovery. it marks an important step in returning american astronauts to the moon for the first time since 1972 for long-term exploration this time we will not only plant our flag and leave our footprint we will establish a found