IT'S 5:00 IN NEW YORK CITY AND
THIS IS "THE FIVE" ."
THANK YOU FOR JOINING US.
WE HOPE YOU HAD A VERY, VERY
MERRY CHRISTMAS.
IT APPEARS THE PRESIDENT HAS,
AFTER HIS HISTORIC TAX CUT
VICTORY.
THE PRESIDENT IS BACK TO WORK
AND HOPEFUL DEMOCRATS WILL HELP
HIS PARTY TACKLE HEALTH CARE.
THAT'S COMING UP NEXT.
THE PRESIDENT TWEETING:
"BASED ON THE FACT THAT THE VERY
UNFAIR AND UNPOPULAR INDIVIDUAL
MANDATE HAS BEEN TERMINATED AS
PART OF OUR TAX CUT BILL, WHICH
ESSENTIALLY REPEALS OVER TIME
OBAMACARE, THE DEMOCRATS AND
REPUBLICANS WILL EVENTUALLY COME
TOGETHER AND DEVELOP A GREAT NEW
HEALTHCARE PLAN!"
BUT WITH HIS OPTIMISM, OF
COURSE, RESISTANCE FROM
DEMOCRATS LIKE BERNIE SANDERS.
>> AT WHAT COST TO THIS COUNTRY
ARE PEOPLE CATCHING ON TO THE
FACT THAT DONALD TRUMP RAN FOR
PRESIDENT SAYING HE WAS GOING TO
DEFEND THE INTERESTS FOR THE
WORKING-CLASS AND MIDDLE-CLASS.
IT TURNED OUT HE LOST.
YOU HAVE A PRESIDENT WHO TOLD US
HE WAS GOING TO PROVIDE
BEING THROWN OFF HEALTH
INSURANCE.
HIS TAX PLAN WAS GOING TO
BENEFIT THE MIDDLE CLASS.
THE BULK GO TO THE RICH.
>> BERNIE IS VERY UPSET.
HE IS AIRING SOME OF HIS
GRIEVANCES AGAINST THE
PRESIDENT.
THE DEMOCRATIC NARRATIVE, HOW
TRUTHFUL IS IT?
OUR MIDDLE-CLASS AMERICANS AND
LOWER INCOME AMERICANS ACTUALLY
NOT GETTING A TAX CUT?
>> 91% OF THE MIDDLE CLASS ARE
GETTING SOME KIND OF TAX BREAK.
I THINK BERNIE SANDERS IS UPSET
HE CAN'T WRITE OFF ALL THREE OF
HIS HOUSES ON THIS BILL.
UNLESS THE LEFT HAS AN ENEMY,
CLASS WARFARE GOING ON IN THE
NAME OF SOCIALISM, THEY AREN'T
GOING TO BE HAPPY ABOUT ANY OF
THIS.
YOU HEARD THE ARGUMENT THAT
CORPORATIONS HAVE PERMANENT TAX
BREAK WHILE INDIVIDUALS DO NOT.
THAT'S TRUE.
HOWEVER.
THE REASON IS BECAUSE YOU NEED
60 VOTES TO HAVE PERMANENT
INDIVIDUAL TAX CUTS AND THE WAY
YOU DO THAT IS GETTING DEMOCRATS
ON BOARD.
BERNIE SANDERS REFUSED TO STEP
UP.
MORE DIFFICULT FOR REPUBLICANS
THEN TAX REFORM.
THAT'S FRUSTRATING FOR THE PARTY
THAT'S FRUSTRATING FOR THE PART
PARTY.
THIS IS HOWEVER A BIG VICTORY
AND COULD HAVE A GREAT ECONOMIC
IMPACT.
WHAT WOULD IT TAKE FOR DEMOCRATS
TO ACKNOWLEDGE TAX CUTS ARE GOOD
FOR THE ECONOMY?
>> ALL DEMOCRATS WERE
BERNIE SANDERS?
-- OR BERNIE SANDERS?
>> I BELIEVE IT TO BE
PROBLEMATIC THAT THE PARTY
CONTINUES TO SHOOT THE LEFT.
BERNIE SANDERS, YOU ARE NEVER
GOING TO SELL ON IT.
80% ARE GETTING A TAX CUT OF
SOME KIND.
I WISH THEY HAD GONE FOR LARGER
TAX CUTS ON THE INDIVIDUAL RATE
THEY MAY BE A LITTLE BIT HIGHER
ON THE CORPORATE SIDE.
WE MAY FUNDAMENTALLY DISAGREE
WHETHER TRICKLE-DOWN WORKS.
I DON'T BELIEVE IT DOES.
BONUSES, A LITTLE WAGE PUMP.
WE WON'T KNOW HOW MUCH AMERICANS
ARE GOING TO FEEL LIKE THEY'RE
REALLY BETTER OFF BEFORE THEN.
>> I WANT TO ASK YOU ABOUT THIS.
I WANT TO ASK YOU ABOUT THIS.
THERE'S A DIFFERENCE BETWEEN
HAVING A TAX BREAK THROUGHOUT
2018 BUT NOT FEELING THE EFFECT
UNTIL YOU FILE YOUR TAX RETURN
IN 2019.
HOW MUCH OF IT IS THEORETICAL
>> IT IS ALL ACTUAL IN THIS
RESPECT.
YOU MAKE YOUR DECISIONS ON WHAT
YOU HAVE TO FILE FOR THE
FOLLOWING YEAR.
IF YOU TALK TO ANY ACCOUNTANT,
NOT PUNDITS ON THE DEMOCRAT
SIDE, SORRY, JESSICA.
GOING TO MAKE THEIR DECISIONS
BASED ON THE WAY THEY HAVE TO
FILE THEIR TAXES.
MUCH OF THE WAY YOU'RE GOING TO
HAVE TO RUSH TO CLAIM CERTAIN
DEDUCTIONS.
WHEN YOU LOOK AT THE TAX CUTS,
TAKE EFFECTIVE PART IN FEBRUARY,
SOME DECISIONS ARE GOING TO BE
MADE ON QUARTERLY FILING
PROJECTIONS FOR NEXT YEAR.
THE EFFECT ON THE ECONOMY, I'M
GOING TO USE AT&T AS AN EXAMPLE.
THERE ARE MANY OTHERS.
IF YOU GIVE $1,000, TO 200,000
INJECTED INTO THE ECONOMY.
WHETHER IT GOES INTO A BANK OR
CHRISTMAS PRESENT OR KNEW OF HER
HOCKEY SKATES OR BASEBALL
UNIFORM, THAT'S MONEY SPURRING
FOR CONSUMER ECONOMY.
COMPANIES GIVING BONUSES, THAT
MEANS THOSE PEOPLE ARE GOING TO
USE THAT MONEY.
IT'S AN INJECTION OF CONSUMER
ACTIVITY.
THAT'S THE EQUATION THAT
MATTERS.
>> I WOULD RATHER SEE A COMPANY
LIKE AT&T GIVE SOME OF THEIR
EMPLOYEES $1,000 AS A BONUS
CHECK AS OPPOSED TO THE
GOVERNMENT SUBSIDIZING EITHER
HEALTH CARE OR JUST HANDING OUT
CASH WILLY-NILLY BECAUSE IT'S
VERY DIFFERENT WHEN THE
GOVERNMENT GIVES OUT OUR MONEY
VERSUS THE CORPORATION TRYING TO
USE BONUSES AS A REINVESTMENT.
>> BIG TIME, KENNEDY.
I THINK DAILY PERSON WHO USED
THE WORD TRICKLE-DOWN WAS THE
DEMOCRAT ON THE PANEL.
WE DON'T USE THAT WORD, JESSICA.
IT'S A DEMOCRATS SLUR.
IT ALWAYS WAS.
>> I KNOW SOME REAL SLURS.
THAT'S NOT A SLUR.
>> YOU HAVE BEEN USING IT SINCE
I WAS IN HIGH SCHOOL.
BERNIE SANDERS ADMITTED.
I SIGNED WITH JAKE TAPPER.
HE SAID 91%.
BERNIE SAID YES.
BUT THEY EXPIRE.
HE KEPT SAYING THEY EXPIRE.
>> TO KATIE'S EARLIER POINT, IF
THE DEMOCRATS HAVE CRIED THAT
THEY WANT TO LOWER TAXES ON THE
LOWER RUNGS OF THE INCOME
LADDER, WHATEVER THEY WANT TO
CALL IT, HERE'S A CASE WHERE
THEY COULD HAVE VOTED FOR
LOWERING THE TAX RATES.
>> WHAT WAS AVAILABLE WOULDN'T
HAVE MATCHED WITH OUR IDEOLOGY.
>> ECONOMICS --
SIDE FOR DEMOCRATS AND LIBERALS.
I'M SORRY YOU DON'T BELIEVE IN
IT.
THE IDEA YOU ARE OPPOSED TO THE
GOVERNMENT SPENDING OUR MONEY,
CORPORATIONS ARE BETTER EQUIPPED
TO TELL US TO DO WITH OUR MONEY.
>> NO, THEY GET TO DECIDE WHAT
TO DO THEIR OWN MONEY AND SOME
YOU GET TO DECIDE WHAT TO DO
WITH YOUR MONEY.
>> [BOTH SPEAKING]
>> THIS IS WHY WE HAVEN'T SEEN
PRESIDENT TRUMP HAS TAKEN OFF
THE TABLE.
22 REPEALED FOR EVERYONE.
THAT'S BEEN A WET BLANKET ON THE
ECONOMY FOR NEARLY A DECADE.
YOU SEE IT WHEN YOU TALK TO
SMALL BUSINESSES AND
CORPORATIONS.
IT'S BECAUSE OF AN UNSTABLE
ENVIRONMENT, WHETHER IT'S
OBAMACARE, NEW FEDERAL
REGULATIONS.
THOSE COST AN ENORMOUS AMOUNT OF
MONEY.
>> THAT'S ABSOLUTELY RIGHT.
THINGS KEEP PEOPLE FROM HIRING
HAMSTRUNG.
WHAT'S WRONG WITH CORPORATIONS
MAKING MONEY?
I WANT TO KNOW THAT.
>> I AM IN FAVOR OF MIDDLE AND
LOWER CLASS AMERICANS MAKING A
GOOD WAGE.
>> THEY ARE.
WOULD SAY THE WAGES WEREN'T
GOING UP.
NOW IN THE LAST 11 MONTHS?
>> WAGES HAVE INCREASED,
>> GARY COHN SAID IN THE
MEETING.
>> BECAUSE HE WAS IN A ROOM WITH
PEOPLE, AN INFORMAL POLL?
VERSUS ACTUAL NUMBERS?
>> FIVE OR SIX COMPANIES GAVE
THESE BONUSES.
$1,000.
>> THE FACT THAT CONSUMER
CONFIDENCE IS UP, GDP IS UP,
STOCK MARKET, WAGES,
UNEMPLOYMENT IS DOWN.
THAT'S DATA.
>> IF YOU LOOK AT MORE DATA IN
THE ECONOMIC EQUATION, SOMETHING
THAT'S IMPORTANT IS THE MEASURE
OF HOME BUYERS.
THE HOME MORTGAGE INTEREST, THEY
DID A SURVEY OF THIS.
INTERESTING HOME MORTGAGES AT AN
18 YEAR HIGH.
IT'S A SPIKE THAT'S HAPPENED
SINCE THE BEGINNING OF THE YEAR.
THERE IS SOMETHING ELSE.
YOU USED THE TERM TRICKLE-DOWN.
IT WAS A BAD PHRASE FOR THE
REPUBLICANS TO USE.
IT IS DOWNWARD PRESSURE FROM THE
IT IS THE UPWARD PRESSURE WHEN
YOU LIFT WAGES -- WHEN YOU LIVE
TAX BURDEN, REGULATORY BURDEN ON
THE LOWER INCOME SCALE.
WHEN YOU HAVE OVER 80% OF THE
PEOPLE ACCORDING TO THE IRS DATA
PAYING AND THEY MAKE UNDER
$50,000 A YEAR, PAY IN THE
OBAMACARE TAX PENALTY AND YOU
LEFT THAT FROM THEM, THAT
MATTERS TO THEM.
SUDDENLY $1,000 FOR A PERSON
MAKING $40,000 AS A PERCENTAGE
OF THEIR EARNINGS AND TAXABLE
INCOME BECOMES GREAT.
THE LAST PART, DOUBLE THE
STANDARD DEDUCTION.
>> SPEAKING OF DOUBLING.
ROSIE O'DONNELL IS DOUBLING DOWN
ON TWITTER.
SHE WENT AFTER BEN SHAPIRO LAST
WEEK, TELLING HIM SO FILTHY I
CAN'T REPEAT IT.
SHE'S BEEN BUSY TWEETING TO
PAUL RYAN WHEN PAUL RYAN
RELEASED A LOVELY CHRISTMAS
MESSAGE.
JUST DID TO OUR NATION.
YOU WILL GO STRAIGHT TO HELL.
YOU SCREWED UP, FAKE ALTAR BOY."
ROSIE, SHE PROBABLY SHOULDN'T
TWEET.
SHE'S NOT TAKING ADVANTAGE OF
PRESIDENT TRUMP IS DOING IT,
WHAT IS IT, 280.
HE IS FILLING THEM OUT.
>> DO I REALLY WANT TO READ A
NOVEL AT?
>> I RARELY EVER USE IT.
I DON'T NEED A MANIFESTO.
>> I WILL TAKE IT AS OF BOWLING
SCORE.
THIS IS A WOMAN WHO DOESN'T DO
THE WORK.
SHE HAD A SHOW THAT LASTED A FEW
MONTHS.
SHE DOESN'T DO THE WORK.
SHE DOESN'T HAVE THE
UNDERSTANDING.
SHE IS LIKE CHELSEA HANDLER.
SHE'S A WANNABE WHO NEVER WILL
BE.
I UNDERSTAND SHE'S PROBABLY
QUITE BORED.
SHE'S BEEN RELIEVED OF HER
DUTIES FROM SEVERAL EMPLOYERS.
>> THIS SEEMS UNBELIEVABLY MEAN
TO ONLY BE TALKING ABOUT ROSIE
O'DONNELL.
SAYING SHE IS NOT A HARD WORKER
>> WHAT SHE SAID TO BEN SHAPIRO,
THE KINDS OF THINGS THAT ARE
SAID ABOUT ROSIE O'DONNELL.
WHAT THE PRESIDENT OF THE
UNITED STATES SAID ABOUT HER.
>> DID YOU READ WHAT SHE WROTE?
>> DEAL WITH HER IDEAS.
>> I WOULD JUDGE ROSIE O'DONNELL
BY HER IDEAS IF SHE WERE
ACTUALLY ESPOUSING CONCRETE,
ACADEMIC DATABASED IDEAS.
INSTEAD SHE IS GOING OFF ABOUT
RELIGION.
AND ACCUSING PAUL RYAN, SAYING
HE'S GOING TO GO TO HELL?
WHO MADE ROSIE O'DONNELL GOD?
>> SHE WANTED TO DRESS UP FOR
STEVE BANNON FOR "SNL."
NO, WE'RE GOOD.
ARE WE GOING TO SEE ANY IMPROVED
DISCOURSE?
JESSICA'S RIGHT ABOUT SOMETHING.
IT'S PRETTY NASTY FROM BOTH
SIDES.
>> IT'S JUST WHERE I WANTED.
>> I SAY.
YOU DON'T HAVE TO ENGAGE.
I CHOOSE NOT TO.
>> DID YOU HEAR WHAT THE AGE OF
SET ABOUT ROSIE.
>> I DISAGREE.
BERNIE SANDERS, THERE IS SOME
MERIT TO WHAT HE SAYS.
>> I WAS TALKING ABOUT THE
WORKING PART.
>> BERNIE IS AN AUTHENTIC
PERSONAL HAS A HEART AND HE
OPERATES WITH THE BEST
INTENTION.
>> HE TRULY BELIEVES WHAT HE IS
SAYING.
>> SOCIALISM AND COMMUNISM
OPERATED WITH THE BEST
INTENTIONS AND WE WON'T GO INTO
THE DATA INTO HOW MANY WHO DIED
>> TWITTER AND SOCIAL MEDIA AND
I USE SARCASM.
THROW IN SOME FACTS.
>> IS THAT AN APP?
>> SHE BLOCKED HIM.
HE WON THE ARGUMENT, SHE BLOCKED
HIM AND HE WENT TO TWITTER AND