You're watching...
FBN’s Stuart Varney sounds off on the state’s decision to increase taxes on those who earn more than $100,000.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Numbers wise the host of morning company of Fox Business Network coming your way today.
At 9:15.
Eastern time is Stuart Varney and -- were with us here in the studio gracing us with his presence early this morning good morning Stuart you give me an extra five minutes and that's what I was trying to see.
Because -- mrs.
-- always bragging about the fact that he gets to exactly.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Is Greece get -- that mean I always come to you because we blame you Europeans for everything -- recently kicked out do you think and what does that mean for the rest of what it gets kicked out whether it leaves voluntarily all leaves -- a crash and I think the -- is probably the most likely it is gonna happen.
I can't see any way to Greece stays within the Euro community.
On Monday of this week I believe it was a total of almost a billion dollars yeah I was withdrawn.
From private bank accounts like checking accounts and savings accounts at Greek banks are talking to a guy over -- the journal Wall Street Journal over Greece and said -- that was.
Not action not a ridiculous.
As ridiculous the numbers this sounds and certainly higher.
That it should be and -- there's not a complete run on the banks is not like there's lines -- I asked him you know this morning.
But it's that's something to watch for -- is a -- I think it's huge.
That will be walked an average of like 8900 dollars -- Greek right drawn.
I want to run on the bank they're done especially -- I -- that they've done that the banks are gonna run out of money if this continues and it probably will.
One of the gonna replace it with the cat just print euros I think they got to take I'd die of at -- at some point very soon.
Go to the drop much I -- always asks so we'll go back to what they -- he always ask.
What are we care.
-- -- because that would set off a financial crisis in Europe.
Because it may spread to Spain and Portugal and Ireland and if it does if you're already to some degree but I think it will prevail I think it will of that -- puts.
Old European banks in real danger because they are owed trillions of the death of these countries if there in real danger.
-- backs are as well because all about companies in America that out relationships with European Cup and it becomes a US political story as well you took a look almost like Lehman Brothers 2008.
That's not out of the question.
That is a possibility.
An increasingly likely possibility at this -- -- is very very -- and increasingly likely what odds with the product I'm not gonna put odds on it but I don't don't think people actually have -- -- because you're just trying to scare us and I don't know the European Central Bank is gonna print money.
Right to avoid what happened with a similar event in Europe for two Lehman.
They will print money.
Just as the US -- -- of printed trillions in top to bailout America's banks they will do the same thing.
You just putting a sort of a lid on it for a while yet kicking the can down the road but that's what -- -- -- it Stuart -- is coming up at 915 with his own program but he's here with us now and I know you talked about this a little bit yesterday.
This story and Marilyn's.
About Texas where as you put it they're defining rich as well not exactly what.
Many this would think of its rich.
Right that -- funny it -- a 100000 dollars and a 150000 dollars or council raising taxes and yet people look de Maryland like many other states has a whopping deficit problem.
And entitlements notably union pensions out of control you know they either need to reform those pensions all raise taxes they go on the tax raising route.
This at -- to get a tax the rich people.
Or -- attacks and anybody who makes -- 100000 dollars or more or household with a 150000 dollars a -- right there exemptions right and -- -- -- -- about their -- is that it will pay more in taxes right they'll have to -- -- that -- finding rich down.
Into the very depths of America's middle class worst yet.
They are making it retroactive to January the -- So for the first five months of this year but you reckon a hundred K you know middle class suddenly -- redefined how -- -- rich a way to take more money off you go all the way back to January.
That's defining down on the meaning of rich but it won't walk Stuart Varney who first 800000 dollars back in 1946.
Joining us this morning with the very prospective thank you have a look not fixated if you check your watch -- little earlier that just be ready in case our products.
With the body coming -- a little bit later on will be right back.
