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tv   Cavuto Coast to Coast  FOX Business  April 5, 2021 12:00pm-2:00pm EDT

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♪. ashley: show me yeted airlines. the latest to speak out against georgia's voting law. texas governor greg abbott is refusing to throw out the first pitch at texas rangers game after major league baseball pulled the all-star game from georgia. politics, again, neil cavuto. take it away. neil: it will be a sell out for the texas rangers one of the few stadiums to allow fans to come
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at full capacity. that follows amc getting upgrade after boffo numbers from "kong and godzilla." we'll talk not about the numbers but how this movie got made. caesars and in the early crowd numbers over the weekend seemed to confirm that cruises are back in vogue. even though travel is limited on the high seas, a lot of stocks are seeing high-water marks. high water marks, okay, america, whatever i can do to bring this home to you. nasdaq and technology stocks are on a tear. but all of this, all of this could change the more we hear from treasury secretary janet yellen's plans for a so-called global minimum tax as the united states will be hiking the corporate tax to 28%. remember the g7 average among g7
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countries is about 24% but she wants a global tax, maybe, maybe, to mitigate the damage that the u.s. would be far out on a limb with much higher taxes and rivals across the world. edward lawrence is looking into this. joins us out the washington. edward. to follow the water theme maybe this will throw water on this thing. treasury secretary janet yellen is pushing minimum tax idea from yellen, major companies around the world keep higher rate, companies will not move around to find the best deal. at issue getting 37 countries in the oecd to sign on that. they're looking at changes in the treasury code. the officials say the administration can change the tax code to address firms shifting profits to low-taxed countries. officials say the changes will
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prevent companies from claiming residence in a tax haven country t can remove tax breaks for companies who try to avoid paying higher corporate tax rate in the u.s. by being offshore. the global approach, how the administration looking at all of this, highlighted within the last 30 minutes as the treasury secretary addressed, chicago council on global affairs. listen. >> for the united states to prosper our neighbors too must prosper. in the modern world, recession, instability and crime abroad find ways to wash upon our shore. strong and stable economy abroad make us safer. we will benefit if countries can maintain or create economic, social, and political conditions favorable to an open society. reporter: how close are we to getting that 37 countries to agree on anything? well the g20 set a goal of july
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to come up with a possible corporate tax framework that fits with the administration's time frameworking for the made in america tax plan which goes along with the american rescue plan. the democrats would like all that passed by spring but the treasury official admits to me not all countries they expect around the world will sign on to this. back to you. neil: we'll get tape from the president very, very soon which he might address some of this very, these issues, edward, but what would behoove europe here to offer a global tax right after donald trump's tax cuts, many of the member countries cut their own taxes to compete there? why would they want to raise the bar now? reporter: europe, armenia, lowered their tax rate by something like eight points. ireland lowered theirs. that is going to be a hard sell for this. a hard sell for this to get those other countries to sign on when they're looking at the huge multinational corporations saying hey, we can move because
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of the digital age into your location, create jobs and wealth there because you have a lower tax rate. it is going to be a very hard sell. again the acknowledgement that i heard from the treasury official is, no, you know, they're going to try to do this. neil: it is going to be a very tough sell. sorry, buddy. now the president commenting on this, maybe other issues. let's -- >> republicans put forward a infrastructure plan, everything from broadband to dealing with other things would -- [inaudible]. now they're saying, there is only a small portion talking about infrastructure. the fact of the matter is, that when you, situation where you can't on a water fountain in school worry you will drink polluted water to affect your health -- replacing infrastructure. talking about making sure you -- [inaudible] talking about high-speed rail that is infrastructure.
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talking about making sure you're in a situation where you can redo some of the federal buildings that are just absolutely leaking energy every single day, that is infrastructure. in addition to roads and bridges, highway, broadband. so i think this is how their definition of infrastructure has changed. they know, they know we need it. >> highest tax will drive corporations from the -- >> not at all. no the at all. because there is no evidence of that. tax was 36%. it was down to 21%. the idea that that, that is bizarre. talking about 28% tax that everybody thought was fair enough for everybody. the idea, sure you have 51 or 52 corporations of a fortune 500 haven't paid a single penny in tax for three years? come own, man. get real.
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reporter: other than how how to pay for the plan, where is room for negotiation. what other parts of plan are you doing away with the given negativion is different. >> i'm not negotiating with you on that. reporter: what would you tell the american people where you are will compromise? >> i will push as hard as i can to change the circumstance to compete with the rest of the world, compete with the rest of the world. everybody around the world is making billions and billions of dollars in infrastructure. we'll do it here. thank you. >> are you concerned about a fourth wave of coronavirus? neil: that was kind of hard to hear the president speaking there. he was questioned on the hike in taxes right now and whether that would make us less competitive. i think that was the gist of some of the questions he was getting. he says this is all about competing with countries across the world when it comes to infrastructure. but right now, moving top rate up or the top corporate rate itself to 28% from 21% not
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revisiting the prior high at 36%, he says that is splitting the difference will not really kill the economy or the economic resurgence what he has been saying. what he said repeatedly, staff echo, not addressing infrastructure puts us at a much dire deficit against foreign countries including the g7, you're seeing a separate push on part of janet yellen, treasury secretary, to come up with a global based corporate tax that would be presumably as high, if not higher than that, so as not to tempt capital away from the united states. that might prove a little easier said than done. charles payne with us, now, "making money" host, best-selling author. what do you make of that, charles? he is trying hard to say taxes going up won't ding this economy one little bit. what do you think? >> isn't there something ironic about him saying that and yet janet yellen on the same day trying to get the rest of the world to lower their taxes as
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well? it's a defacto admission what president biden wants to do hiking corporate taxes will make companies leave. the only thing that maybe that can stop them is if they can somehow get other countries to lower, raise their taxes. neil, it's nuts, really. i'm looking at the average of asia, 20%. europe, 19.9%. the eu, 27, 21.5%. it's, they're not going to do it. it just does not make sense. we're talking about bringing back inversions. everyone says all the large corporations were saying sigh far to america. they are saying it is the bottom line. neil: if the countries refuse to play along, refuse to raise their rates or agree on an accepted global rate what would behoove them to do that? they're already looking at you
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know, especially the countries that lowered their taxes along with the trump tax cuts a couple years back. they're seeing noticeable booms in activity. talking about what is going on in germany, britain, investment related taxes that fell in places like italy and france why would they want to kill that golden goose, right? >> i just can't, i cannot imagine what the offer can be. i don't know what treasury secretary janet yellen would be saying behind closed doors. you know, look at these inversions. before 1994 they don't even too. we never heard about them in country. 2009 there were five. 2011 there were two 2, eight. 20137. we saw when the obama administration hiked taxes corporations fled big time. a lot of money overseas, even if they didn't move headquarters, they didn't bring it back. apple had a trillion dollars
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offshore. we'll not get the money back into this country. it won't go back into productive uses. companies will try their best to leave. others won't bring money back. they will get dinged with some sort of penalty which would make it more likely they will bring the money back. this is a tough one. this is really, you know, i think, i heard the clip with president biden, neil, and he will have to give on a lot of this so-called infrastructure. republicans are already spent the entire weekend we're cool with 650 billion of it. we understand what potholes are. we know we need to patch up bridges. a lot of the other stuff you're describing as infrastructure simply is not. neil: i'm wondering what is behind the market rally then? is it the believe the package will have to be significantly altered, tax hikes really planned are scaled back or just focusing on the good post-pandemic news? amc getting an upgrade after a very strong weekend ticket sales for this godzilla cong movie,
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which is idiotic, charles, but i digress. all the other signs, casino stocks, them getting upgrades on the belief that people are back, that flyers are back, travelers are back and that that's what is buoying stocks. what do you think? >> i think the reopening of the economy, listen, we had the ism service number, the best number ever since they have been watching this since 1983. we saw the manufacturing data, seven manufacturing reports in a row through the roof. the housing boom still continues. it is something, you could almost argue a jobless recovery. that is the only real problem despite those 900 how but reopening this country, letting people go out there toe spend their hard-earned money. i believe the market senses ultimately we won't go back to 28%. someone like senator manchin saying that is too much even for him. if you get 24%, then wall street can live with that. you know, but, you know, it is,
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remains to be seen. meantime they're looking at also the yields. they spiked. we had the little nervous fit. that is starting to fade away. neil: right. >> on thursday the vix fell completely through the floor, the so-called fear index. all of that anxiety is sort of fading away. now it is fear of missing out coming back into the market again. neil: well it is clearly happening today, my friend. thank you very, very much. see you in less than go hours, charles payne, the "making money" host. jonathan hoenig, with us right now, capitalist pig hedge fund and fox news contributor. jonathan, what do you think the markets are telling us now? anything to do with the belief, however the president wants to raise taxes, really ramp up infrastructure spending it is not going to happen or they think it is going to happen? it will be stimulative, win, win, what do you think? >> i think at this point the market is looking a little more short term. charles alluded to the fomo,
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fear of missing out. there is a lot of exactly that. when you see a market, neil, all-time highs, often times that trend tends to persist. what is positive from a market perspective some of the leadership has broadened. a year or two we were just talking about big cap tech. today stocks like home depot, target, even southwest airlines all at 52-week highs. that is all bullish but i have to tell you, neil, when you start to hear janet yellen talking about this global minimum tax what an unbelievable massive global disincentive for wealth creation. sometimes i feel like i'm living in bizarro world where our elected officials say what is better if we spend more and tax more. neil, that has never worked long term in any economy worldwide. neil: what would happen then if biden does get his way and somehow, by hook or crook he can do something to mollify some of these democrats who want to get rid of the salt provision, limit
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$10,000, write off for state and local taxes, that sort of thing? do you get a sense that that will be stimulative, it runs countermost people's notion what gets stocks higher? wee been spending a lot over the years and they have been jumping a lot over the years. what do you think? >> you know, there is no such thing as a free lunch. this is, rule number 101 of economics. for example, the talk of raising taxes on corporations. who pays those taxes? ultimately the taxes are paid by customers and in the form of higher prices or employees in the form of lower wages or fewer jobs. so there is no way government can sneak in a revenue that ultimately doesn't come from the people itself. you see that time and time again. the worst fallacy of them all, neil, this notion of used to call the broken window fallacy, somehow when government spends money that results in jobs and
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economic output. just the opposite is true. that crowds out the private investment, the next uber, microsoft, cisco, the great entrepreneurial companies that really pushed living conditions and wealth creation forward. so the more government spends, the more it taxes, the lower wealth creation comes, and that is exactly the direction biden is going. neil: all right. jonathan, don't wander too far, my friend. we'll be tapping your fine investment brain a little later in the show and some other developments. including what is going on in the baseball front today. of course in texas it will be a packed stadium, 40,000 plus at arlington, as baseball returns certainly in a very big way. the first of a jam-packed stadium to do so. but here is what is interesting about all of this. it comes in the middle of major league baseball boycotting atlanta. now turn it around. what if people started boycotting major league
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♪. neil: all right. major league baseball moving the big all-star game in july out of georgia over that whole voting law that was just enacted there. now there is a growing wave on number of people who will sort of boycott major league baseball. steve harrigan has a lot more in atlanta on the back and forth, where it is going. steve? reporter: neil, it is escalating, boycotts, counterboycotts and threats of more boycotts, started friday with the announcement by the mlb commissioner will move the game out of atlanta due to his dissatisfaction with the georgia voting law which restricts access to the ballot for people. there is some speculation some of the players might have boycotted the guam if it was held here in georgia. that was part of the motivation to move it but the actual move has sparked another threatened boycott. former president trump and others calling for americans to boycott baseball because of this move. it goes beyond baseball too.
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the georgia-based corporations like coca-cola and delta, their ceo's have spoken out aggressive against this georgia voting law. the companies are feeling some heat. georgia legislators will remove all coca-cola products from their offices. discussions about targeting delta to lose a potential tax break as well. another group caught in the middle here are georgia democrats, many of whom openly and strongly opposed this voting law but the at same time they also oppose any boycotts of georgia businesses. here is the newly-elected democratic senator jon ossoff. >> we absolutely don't want to see any boycott of our state. we want business and investment and events and indeed it's the rapid economic growth and development of our state that is driven political progress here. that we want to see continue. reporter: the immediate victims in cobb county, a number of
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small hotels and stores that depend on hospitality and tourism. they were hoping for a 100 million-dollar week in july but it is gone. neil: steve harrigan. doug elderd sports agent extraordinaire, i wonder if this is i could be beginning, to backfire on the mlb? >> too early to tell which seems like a get out of jail type of answer. when you look at the analogy, the nfl embraced social diversity and social justice issues and barely felt a blip in terms of nielsen numbers and merchandising. nba leaned if heavily on social justice viewers, viewership of the nba finals including lebron james and lakers completely crumble. too early to tell about the mlb.
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there is paradoxical about boycotting america's sport, right? neil: well, you know, i had a chance to look closely at the voting law. it was not how it was purported to be. when "the washington post," not exactly a conservative newspaper, gives the president four pinocchios, many pinocchios as you can get, that is the max, for misrepresenting what this law is all about, i know the sort, what happens in the lexicon, people just buy the perception and make it reality but really it is not. i'm just wondering if a lot of people who are condemning it taken a good look at it, but whether this is just entered into right-left positions from which neither side can dig themselves out, what do you think? >> you know i think once again you hit the nail right on the head as you have so many times in the past when we have the opportunity to talk. i often say perception is reality and to your point, neil, the democrats have taken control, more maryam webster.
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they're redefining meaning of commonly used jargon and vernacular, they're summarizing presenting as fact content of bills. when you have groups and media outlets like the post and "times," saying this is not accurate this is not as presented, pace an age of social media been digested and processed as such, the gop writ large are really chasing their tail. the dog chasing the fire truck down the street. when you step back to look at mlb, that is a really interesting political construction. really balanced, 32% conservative, 38% democrat and 30% independent or swing type voters. if you were pick of major four sports, hard to find one more balanced processing the issue which takes full circle to your point. the democrats paraphrased this, provide a different meaning, present it at as fact, the trouble for million dollars sports organization, the mlb did
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10.7 billion in revenue before covid, the corporate sponsors take the cliff notes version and feel pressure. two areas you mentioned, texas and atlanta, are the most conservative fans in all of mlb, roughly 38% conservative. the problem two major corporations in both texas and atlanta came out against the respective voting bills. dell computers in texas, and american airlines, and in atlanta, delta and coca-cola. sports business is trillion dollar global scale, trillion dollar domestically ecosystem. they depend on each other, media, corporate sponsors, fans, right now to your point, neil, it is fans that are losing in this ecosystem of imbalance. neil: i'm just wondering whether the fans protest by either not watching on tv or not going to the games, even where there are, you know, limited if any restrictions on crowd capacity such as arlington, texas, where
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you can fill it to the max and not have any issues? i'm discuss wondering whether it might show up that way? people drop out on the attendance when baseball desperately needs them? >> baseball is absolutely fan attendance driven sport unlike others the does. they don't have the television deals and merchandise, which led to 70% drop in the covid year. baseball is looking at this presumably from a balance sheet standpoint first. within that what are key drivers and indicators, kpis, give u.s. the red flags or green flags in the proverbial balance sheet. to your point i'm not sure how you register this, if you look as balanced as mlb fan base, this issue is incredibly polarizing. you would be hard-pressed to find somebody indifferent on issue, left, right figuratively. not many people are down the
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middle. progressives, snowball rolling down the hill, on thursday the masters begins in earnest. seeing hashtag boycott the master campaign. less than a year, olympics in beijing china. there is geeing grumbling we should boycott the games because of china freedom rights issues this is not mess hall nonsense this is not shallow sabre-rattling. this could be a snowball rolls down the hill, gains mass speed and eventually impact. it is still early in the process. neil: that is very well-put, doug. you always manage. thank you very much, my friend. doug eldridge. referringreferring to the contr, marco rubio saying major league baseball commissioner might want to give up augusta national membership. it is selective who it chooses to be a member, on and on we go after this.
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♪. neil: all right. think about this, we had the biggest box office in the united states already this weekend post-the whole pandemic. then we get incredible numbers of those traveling reported from the tsa. biggest number of screenings on friday again since the pandemic began. something of course that dr. fauci said, he not something optimistic about going forward. we'll see more of this and the trend is our friend. lydia hu following all of that at liberty international airport. lydia? reporter: hi, there, neil. we're in terminal b. i have to say this morning we saw a lot more travelers passing
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through this terminal heading into their flight. it is pretty quiet back behind here but as you say we saw some record numbers last week. more than a million 1/2 people being screened by tsa on the friday before the holiday and also on easter sunday. so the question we've been asking is, are concessions and restaurants inside of the airports feeling the relief just yet and the answer is, it is a welcome sight but not quite the relief they need just yet. we're walking inside 360 duty free right now. we're the only ones because the store remains closed. while we're seeing an uptick in domestic travel, the same up tick is not picked up in international travel. that means they don't have the customers to shop for duty free. this store will open later today, 2:00, specifically when they have an outbound international flight headed to india for those passengers. this company, 360, operates more than 40 duty free stores around the world. they say their revenue is down
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about 85%. listen to this. >> it is very challenging right now for us in this environment. there is degree of optimism coming back in domestic traffic and we hope there are repercussions for international traffic. we're seeing a light at the end of the tunnel. we hope the milestones from the cdc will get us through the crisis and to a much brighter future. reporter: neil if we take alook across the industry, the airport restaurant and retail association says that the industry lost about three years worth of profits over the past year. that is roughly $3.4 billion. so while this increase in domestic travel certainly is something they're optimistic about they say it is not enough to save them. they say a full recovery could be several years in the offing, maybe 2023, 2024, even with the recent help from the stimulus package, that will give them
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about $800 million. neil. neil: lydia, thank you very much. lydia hu at newark airport. when it comes to foreign travel which lydia was alluding here, boris johnson in britain was hopeful to get international travel back, come may 17th. that will be the last piece of this travel puzzle, making sure the globe is in sync in travel around the world resuming as well. back to jonathan hoenig on that. it is so crucial to the economic rebound not just here, everywhere, you got to get people back in planes, get them visiting other countries, vice versa. they're not quite there yet, does that put a train how much we improve here? what do you think? >> neil, what is interesting, a lot of stocks, you talk about markets are forward-looking. airline stocks, for example, the travel related stocks they have been at 52 highs for weeks now. they're anticipating -- neil: absolutely.
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>> what i think is positive writ large, we're starting to see some differentiation between the airlines. keeping middle seat policies or and travelers are taking a type of risk they're comfortable with. maybe not traveling at all, various type of seat apparatus and et cetera. what really causes the economy in my opinion to collapse in march of 2020, neil, it wasn't the pandemic, as terrible as that was, but it was the government shutdowns. remember at one point they were talking about shutting down the market itself. that causes a lot of panic. the more we're seeing in general a trend towards more freedom, the more you will see the market, economy writ large respond in a positive way. neil: what do you think of the market, jonathan, what is going on right now? i know our mutual friend gary kaltbaum calls it a melt-up. i heard that description from more than a few. what about you? >> neil, look, it is hard to fight the tape. there are some stocks now at
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52-week highs. you got so many things working including the end of the pandemic. at the same time i think from the big-picture perspective, neil, how far we have come. you have got people now, it is not off colored joke, selling what are called nf. t, non-fungible token of a, neil, of a fart. they're selling nfts, digital assets for millions in cases of collars. you would never have that in 2008 or 2009 at the depths of crisis. we always say the market is pendulum that swingses between fear and greed. big picture we're much more on the side of greed than fear. that makes me very nervous given the market's lofty levels. neil: i was look into that new investment strategy here. seems a little gas sy to my liking. having looked at this market, jonathan, whether it is rich or
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not, invariably people who concoct a valuation models base it on interest rates f interest rates are rising a bit, you could make the argument maybe it isn't entirely out of whack. that doesn't apply to all sectors, but this new reality and improved earnings have not been baked into the equation here. and by that, it is not a rich market. how do you see it? >> you can't deny, neil, the importance of interest rates play but we've gotten so accustomed to decades plus, ultralow really controlled interest rates. neil: sure. >> we forget that interest rate changes every valuation model under the sun changes. a lot of money invested for the very long term with assumption of that ultralow interest rates. now it can happen. look at japan, for example. they have had ultralow interest rates basically since the late 1980s, early 1990s. hasn't helped their economy much.
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this type of process can continue for quite a long time. net-net, that is the real risk, neil, weak tech stocks and higher interest rates. you've seen rates tick down a little bit. one of the reasons you're seeing people willing to venture back into stocks. neil: you know, jonathan, i was talking to someone apparently a very big fan of yours, you know one thing i like about hoenig, he never ages. so naturally in the pause in that conversation i said well, you know, what about me? and he said, hoenig never ages. thank you, my friend. you are ageless around i appreciate that. thank you very, very much. corner of wall and broad, we have stocks racing 459 points. dow at a record. s&p easily at a record. nasdaq it is trying. more after this. ♪.
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♪. [baby crying] neil: it is getting much bigger and much more problematic especially with one convoy after another we're told headed our way. alex hogan in mcallen, texas, what she is hearing right now. alex? reporter: neil, this is 26,000-pounds of marijuana. it is worth $9 million. what we're hearing from the dea here in mcallen, they're saying as we see more migrants come into the country, they say it is leaving way for smugglers to bring in some of these drugs. what we've seen so far in 2021, the dea at the rgv it seized 866 pounds of cocaine,5-pound of heroin, 4,000 pounds of meth and 28,000 pounds of marijuana. from the 2019, to 2020 fiscal year the amount of fentanyl
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seizures blew up by 600%. this year it confiscated nearly double what it found in 2020. >> the seizures made from 2019 to 2020 could essentially kill half of the population of america. what we made so far and on pace to seize this year to kill the other half. reporter: now here is a live look at the rio grande valley with our fox flight team. already we've seen migrant crossings today. the administration pointed to the root cause of this issue as a crisis in central america. special envoy will travel to guatemala and el salvador this week to speak with local leaders >> the vast majority of adults are turned away. these numbers are certainly, we are not naive about the challenge but what our focus is on is solutions and actions to help address the unaccompanied minors. reporter: more than 18,000 children are in u.s. custody as
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new centers around the country fill up and critics continue to argue that the situation here at the border is not only a humanitarian problem but a security crisis. when looking at security video the dea border agents say there is a clear distinction between migrants seeking safety or mules carrying in drugs. the two groups take separate routes. the smugglers stick to tunnels and private roads. most of the drug shipments here in the rgv arrive by 18 wheeler. look at one of these bags, this is what a backpack would look like. security video the ropes would be over someone's shoulder. that holding marijuana. easy to distinguish when you're looking at security video. smuggler, versus many families we've seen personally, holding their children or a small bag whatever they can hold while they make this difficult journey. neil? neil: stunning. alex hogan, thank you very, very much. we have a lot more coming up. start with a little bit of a
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quiz for you. you can do homework during the break. i want you to connect these few items here. mgm resorts, amc, cruise stocks, and the movie "godzilla versus cong." begin. this is our only chance. ♪♪ we have to take it. ♪ obsession has many names. this is ours. the lexus is. all in on the sports sedan.
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because of strong tickets from amc theaters for kong godzilla. mgm resorts, citing a strong return, from casinos and hotels here. there is a common theme here that links people who are eager to get out to see a movie, even if it is not the greatest movie. get out on a cruise ship even if cruise ships are not getting out that much for the time-being. ii want to go to kevin mccarthy, noted film critic. good read of what happens in hollywood, fox news contributor. kevin, my concerns about the movie notwithstanding, it is obviously a sign we are desperate to get out, many could have streamed this. many did. on the first day nine million did just that. i'm just wondering what you make of the demand that could be building in theaters, many whom racked up numbers in limited capacity and still did very, very well? >> listen, neil, thank you for
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having me on. this is incredibly exciting news as somebody who is in love with the theater experience i think there is nothing that matches the theatrical experience, communal experience that you have. here is why the numbers are a big deal, neil. the movie was also streaming on hbo max at the same time. neil: right. >> if you had a hbo max subscription you could watch the movie at no charge in your home but people decided to go out and go to a theater. it made almost $50 million in its first five days. over 285 million for the film worldwide, globally. people genuinely missed that experience. the movie was fine. i've seen it twice. it's a cool action film. the human characters are not great. overall it is one of those films you have to see it on the big screen. for people to make that decision with reduced capacity to go out of their house to actually see the film, just shows you how strong the box office may be later on this year.
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we still have "top gun" coming out. we have the "matrix iv" coming out. we have films coming out, this is massive indicator that people love to go to the movies. i think this might boost theatrical numbers higher as we go home towards the future. people are home so much, they want to get out to see movies with their friends. that is how i feel. neil: i can see for blockbuster films such as this, kevin. i'm wondering for some that are not. people will say, i will continue treatmenting, thank you? >> that is a big question. that is the biggest thing we'll notice, what will happen we're back quote-unquote normalcy. will small films survive, 20 million-dollar films, $10 million films. will it be the massive budget films? i kind of argue that is happening over the years. look at the movies that make money at theaters, gigantic avengers, mcu blockbusters. those are films people go out
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for. you have the new element where you go to streaming. some studios are doing it in a weird way. warner brothers, for example, with "godzilla vs. kong." it hit hbo max and theaters the same day. then universal pictures gives you theaters first 17 days then go to the streaming. we will have shorter theatrical movies, and i think that is big deal for those sometimes of deal. i agree, neil, smaller films may have more streaming life. still the smaller films deserve to be seen on a big screen. i hope we have a happy medium with shorter theatrical windows and the movie get as theatrical run. neil: well-said. kevin, we'll explore that film and what really bugs it about me in the next hour. i give you a hint. it is anti-business.
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♪i've got the brains you've got the looks♪ ♪let's make lots of money♪ ♪you've got the brawn♪ ♪i've got the brains♪ ♪let's make lots of♪ ♪uh uh uh♪ ♪oohhh there's a lot of opportunities♪ with allstate, drivers who switched saved over $700. saving is easy when you're in good hands. allstate click or call to switch today. ♪♪ neil: all right, well, we had a feeling when the employment data came out on friday, good friday -- remember, the markets were closed -- that they would have an opportunity to trade on this, they would pounce on it and buy on it. that is exactly what's happening. better than 917,000 added to the
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economy for the month and prior month revised up in excess of 200,000 new jobs. you get the beat here. that and the great reopening saga we've been telling you about where they've got some numbers for anything from theater attendance to casino, you know, participation, hotel rates that are beginning to move up and flights, average number of flyers moving up to post-pandemic highs. then there is that infrastructure package. now, there are two ways to play this. the markets liking it because it's going to be more stimulus to the economy, and the markets ignoring the tax hikes that come with it because they don't think that many hikes are going to, ultimately, be in it to dent that economy. hillary vaughn has been following the progress and what the president wants to do to woo some republicans. hillary vaughn, to you. >> reporter: hi, neil. president biden is expected to meet with some republican lawmakers face to face to try to sell his infrastructure package to them and try to win them over, but he may be already
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losing some moderate democrats in his own party. senator joe manchin saying in a radio interview today that he not support biden's way to pay for it by raising the corporate tax rate to 28%. but while he does need democrats onboard, biden may not need any gop support. his energy secretary, jennifer granholm, saying on a sunday show that he will push it through without republican support if he has to. but even if biden does get infrastructure through, he is under pressure by progressives to strengthen environmental regulations that president trump weakened that would have major impacts on infrastructure projects, and it could be a big roadblock for biden's plans to repair roads and build bridges. under trump the national environmental policy act was changed so that infrastructure projects could be approved faster, a game-changer for projects that nepa put in limbo.
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the american petroleum institute found that under obama-era nepa, environmental impact statements took on average six years to complete and cost $4.2 million in delays for projects. we talked with one lawyer who helps guide large companies, he tells us environmental groups abuse nepa to file lawsuits and effectively kill construction. >> the uncertainty overwhelms the benefit of the project. and that's all the goal when you're sitting on -- suing on nepa grounds. you don't want a project to happen -- [inaudible] because time is money. >> reporter: and that has a real-life impact on communities around the country, putting major products on hold. here's two examples. according to the unlock american investment group, environment permitting reviews have stalled $25 million in airport improvements in new mexico. it's been delay for over two decades.
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and in michigan a two-way road and bridge project that would open up travel for an additional 20,000 cars daily has been delayed for 16 years. but, neil, it's not just those types of projects that have been caught up in red tape. in massachusetts there's an offshore wind farm that's been delayed for two years as part of a nepa lawsuit. neil? neil: hillary vaughn, thank you very much. hillary following all of this in washington d.c. and you know when in the infrastructure plan, a big push will be on electric vehicles. but there's been a wave of expanded production of electric vehicles for quite some time, long before joe biden came to office. so it's not just tesla that's a beneficiary here as we're showing you. jeff flock in naperville, illinois, where a lot of plants are being completely retrofitted to address this new electric vehicle wave. of what have you got, jeff? >> reporter: i've got a dealership, neil, in naperville, illinois. i'm surrounded by gas-powered vehicles. these are gms.
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this is woody buick gmc, but they are waiting on this electric hummer that's coming out. people are very excited about that, and, you know, the idea is for gm to have an all-electric future by 2035. no more gas-powered cars. you know, the question is, is that really good for the environment? and recently "the wall street journal" and university of toronto did a deep dive on this and studied it. take a look at these interesting findings. if you build a car, either an electric or a gas-powered car, it actually puts out more co2 to build the electric car. that's because of the batteries. more co2 there. now, once the car gets on the road, and they're comparing, by the way, a tesla modeling 4 -- model 3 with a toyota rav4, if you drive about 20,000 miles, it begins to even up. if you drive the car for its
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full length of life, which is about 200,000 miles, then, yeah, the electric car wins big for the environment. the gas-powered car dumps out a lot more co2. the question though is, is america going to buy electric cars? and for that answer we go -- [laughter] to our old pal, woody woodring, woody buick gmc. are people knocking down your door for an electric car? >> not at this moment, but they're knocking down our door for our gas-driven pickup trucks. we're all set with the hummer, we're getting ready for that. if that's a nice smooth launch -- >> reporter: the hummer is going to be a truck first, then the suv comes on. buick even has put out an electra, i used to have one of those -- [laughter] an electric electra sounds great. are people going to buy these things? do you really believe gm is
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going to be free of gas-powered cars by 2035? >> i definitely believe they're going to be ready for non-gas cars, but it's going to be up to the public. let's see what they decide they want to spend their money on, but gm will be ready. >> you and me may be driving electric cars, but it'll be an electric golf cart that we drive around the nursing home. >> and our used hummers, you know. >> reporter: you know, you look at the market cap of tesla, i mean, the big money is betting on electric, but i don't know, old guys like us, may be or hard to convince. neil? neil: speak for yourself, young man. i think we're all going to go the fred flintstone route. [laughter] that's going to be our theme, you know? [laughter] >> reporter: there we go. lower extremities. neil: there we go. it's a family show, my friend. jeff flock, naperville, illinois -- he does the best
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reports. you always get great nuggets of information. all right, we have got a great nugget of information from janet yellen, the treasury secretary, when it came to taxes. i think a little bit wider than we first thought. take a look. >> we're work with g20 -- working with g20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom. together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multi-national corporation and spurs innovation, and prosperity. neil: all right. here's the thing though, a lot of those foreign friends of ours might not be too keen on doing that especially when we're raising the corporate rate in this country -- at least that is the goal -- to 28%. for the g7 right now the average is closer to 24%, so what's in
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it for them to raise rates or initiate a global tax when they have a clear advantage over america, and they're going to seize on that? but the whole issue here of a global tax is meant to tell corporations you can run, but you can't hide from taxes. carol roth, mark madsen. carol, what do you think of that? you know, you want everyone on the same tax playing field, but i could imagine from their point of view and on their field they're going to enjoy the advantage they'll have with a lower tax the rate, right? >> and this is a horror movie. and the call is coming from from inside the house. we have the u.s. leading a call for cartelization price fixing and limiting the free market and market competition. [laughter] i mean, janet yellen is obviously right in the fact that, obviously, the reason tax rates needed to be lowered previously was because we were
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not being competitive here in the united states. so the idea was to lower it to create more competition. she's now going the opposite, she wants to price fix and make it so that there is no competition. and this is exactly what central planners want. they want to control everything, they want the power, they want to remove the decentralization and basically make themselves more powerful in the process. at the end of the day, the government needs less money, not more. we don't need to be finding ways to cartelize global tax. neil: but the one thing she's trying to pursue, mark -- i want to get your thoughts on that -- is not providing a reason for companies to wander elsewhere for lower tax havens, put an end to that. but everyone would have to agree, right? everyone would have to play the same game. >> yeah. there's a thought experiment when they have prisoners, if you tell them the other person you
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get a shorter sentence, both prisoners have to not say anything. this is like a whole prisoner, house full of prisoners, and they're going to do what's in their best interest. they're not going to sit there and allow global taxation. this is dystopian. this is like overlords, one global government, one global taxation, no competition. countries should be able to compete just as companies and states are able to compete. and they want to kill the competition among states, all this big $2.3 trillion giveaway, if you are a state and reduce your taxes becoming more competitive, they want to take that away. anyone that thought that this administration was going to be middle of the road, that's, that has completely been destroyed. they're extremely liberal. their tax policies are onerous, and it's going to hurt a lot of people. neil: all right. i want to pursue this a little bit more and also get this anti-business -- by the way, not
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only factually here in economic policies, but in major movies including this godzilla/kong one, but i digress. in the meantime here, taking a look at some developments with goldman sachs abode indicating it's preparing for staff to return to their london office this week, and as many as 200 workers could return to the london office the week after the easter break, so this week into next week. goldman, of course, one of the big investment firms has been saying i know a lot of you guys have loved doing things from home, but that stoppeds. get your -- that stops. get your fannies to work right now. they didn't actually say it -- well, they did say it. after this. ♪ life goes on. ♪ life goes on, life goes on.
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the people who are now just getting back to the work force and out of their homes, greg palkot explores that phenomenon as we see in london. greg. >> reporter: how you doing, neil? that's right. we'll get to the covid passports in a second. let's go through what you u.k. prime minister boris johnson just had to say, talked about a careful easing out of covid-19 lockdown here in the u.k. he talked about shops, gyms, outdoor loss hospitality reopeng next week. here is a bit more of what he had to say. >> but it's by being cautious, by monitoring the day at every stage and by following the rules, remembering hands, face, space, fresh air that we hope together to make this road map to freedom irreversible. >> reporter: now, neil, johnson described a cautious restart of international travel maybe next month, kind of a traffic light system to say
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where the brits can go, where they can't go, a wider distribution of encouragement, but, yeah, something which is as controversial here as it is in the states, a so-called covid passport to prove whether you've been vaccinated or you're immune to the disease. some here think it's a way to open up cultural events, to get travel going, others feel pretty strongly here too it is an infringement on human rights. boris johnson, neil, was very careful about what they're going to do with this. it is still clearly a work in progress, but things are finally going well in the u.k. nearly 50% of u.k. adults have gotten their first vaccination, cases and deaths are way down. and compare that to what's happening in europe right now, france and italy that are still struggling probably why johnson is being very, very careful still. he's been there, he wants to get
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out of it. neil: all right, greg, thank you very much. greg palkot in london. dr. anita ratcliff on all of this, acute care physician. doctor, what do you make of this whole vaccine passport thing? i guess it depends how many details are in that, but as a doctor, what would you like to see in such, you know, ed if you want to call it that? >> well, it's difficult to say. i'm not a politician or a lawyer. fortunately, i'm a front-line physician. and what i can say is that vaccines do work. they decrease your risk for getting seriously ill from covid-19 or dying from it. so i know that they do work. in terms of the logistics of putting out a vaccine passport, there are concerns with information like patient information and how it'll be utilized. again with, fortunately, i'm a physician not a politician or a lawyer. neil: some argue though we can't open up fully unless we have data like this readily available
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at an airline or when you go and check into a hotel here or abroad, anywhere, that we kind of need the proof. do we need the proof? i know what you're saying about vaccines, it's a very good argument, others have espoused the same thing. do we need it to be a safe society as we all get back? [laughter] >> well, yes, it would be nice because, you know, if you've been tested, there's ways they can be forged. so it becomes difficult for people checking your proof that you've been either vaccinated or tested. now, in terms of -- yeah, we can go to grocery stores, but we have to be smart about it. we can go out to restaurants, but we have to be smart about it. face masks work. social distancing works. and people think, hey, you know, in texas they removed face masks, social distancing, they think that the cases are decreasing, and that applies everywhere. but that's an anomaly, and geographically we may see something different, you know, a
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week or so down there. covid-19 is a highly contagious virus, and it passes from person to person with rest a -- respiratory droplets. in terms of how the logistics are, do we need it to be able to go to work out, to go back to school? that's a question, and time will tell. neil: do we have any danger, doctor, as you see it of reentering the problems that france and italy, certainly india, the worst case brazil, are experiencing? >> well, they have done a poor job of rolling out their vaccines. the good news in the united states, we have done a great job of rolling out the vaccines. last saturday 4 million americans were vaccinated. now, that means there's about 4 million people who won't end up in the hospital or die from covid-19. that's always good news. and as we continue vaccinating more and more people, we're getting closer to the point of possibly reaching herd immunity which means that the virus cannot find anyone to infect and
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replicate it. viruses can't live without it. they cannot perpetuate, they cannot hurt people without humans to be able to replicate or live in. neil: got it. doctor, thank you. very good catching up on that. in the meantime, catching up on why businesses are targeted for tax hikes. because nobody likes them. you know, people overwhelmingly approve taxing them to the wall, and i suspect a lot of it has to do with hollywood. it's going to offend some people, but i think this latest kong/godzilla movie illustrates the point. all right, who's the bigger villain? what if i told you in that movie neither? there's another character who's a businessman? [laughter] ♪ ♪
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♪ >> these are dangerous times. >> we don't know why. >> hi, i'm president of the world. let's take extra care to follow the instructions, or you'll be put to sleep. take a closer look at the track record of this company, and you'll see we have gambled in markets traditionally regarded as nonprofit. you don't have it, and yet you have the audacity to ask the bank for money. >> you'll never capture earth. >> we thought you might know something that could help. neil: all right. did you notice that the common theme in a lot of those movies, some mega-hits, others not so much, the business guy's the evil guy. the business guy is the evil guy. i don't want to give away the
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godzilla/kong movie in case you haven't seen it, but the evil guy is not godzilla and it's not kong. look, i accept this is the way life is. i understand. my teenage son loved the movie, thought it was fantastic, dad, why don't you get a life and quit railing about how poorly business is perceived. but i'm telling you, if i've seen this once, i've seen it again and again where the business guy is the evil guy, and in this case a lot of the attention around this walter simmons who runs this cybernetics corporation -- which, by the way, sounds evil in the itself. they could have just called it dodge. but, in fact, they went with apex cybernetics. [laughter] all right. to carol roth, do not feel compelled, by the way, to use a movie voice. mark matteson as well9 i don't want to give away the movie, i'll just let people know in case you haven't seen this before, business is the bad guy.
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and this is why people say, go ahead, tax businesses to the hilt, because of movies like this. this would actually be kong's fault and godzilla's fault. your thoughts. >> well, you know, a good add venture movie always has to have a monster or a supervillain. but i think it reaches down to a misunderstanding about capitalism itself. many people believe the american dream, free markets and capitalism are driven primarily on greed and avarice. i know a lot of entrepreneurs, a lot of business people, and they are also have a very altruistic heart relative to growing their business and serving other people. so i think business in most of these movies it's businessmen are really given a bad rap here, and i, you know, am are reminded of both, excuse me, both batman and then "iron man" if, my favorite, tony stark. money by itself is not good or
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evil, 2s what you do -- it's what you do with it that matters, and we'd be better served if we a had more movies like that. neil yeah. they were very uplifting and positive characters. i always loved the line about batman if, what is your super power. he says, i'm rich. but leaving that aside, i was noticing in virtually all, carol, i was noticing in virtually all the bond movies the bad guy is a selfish industrialist whether it's goldfinger, elliott carver, tomorrow never dies, you know, moonraker, i could go on and on. time and again those bigger than life bad guys are the focus of the movie, and good is up against that evil. our kids watch this stuff and grow up believing it, believing -- they're fun movies, don't get me wrong. when's the last time we pried to present a -- tried to present a business guy in a good light in.
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[laughter] >> for full disclosure, i am the president of the unofficial scrooge mcduck fan club, so i just want to say i have a perspective on this. i think poll tugs to the people in -- politicians, to the people in hollywood, they don't want people to understand they are hogging money and power, so somebody has to be the bad guy, and i feel like businesses are an easy target because people don't understand economics, and businesses are busy running their businesses, but they're not interested in pop culture, and they're not interested in education. it's interesting, you go all the way back to the motion picture alliance back in the day, ayn rand, walt disney, gary cooper, barbara stand wick, keeping communist propaganda out of the movies. we need people like that keeping business and capitalism propaganda out of the movies
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because there's enough bad guys. neil: i'm not out to make them saints. i will say some movies go a little far like in tomorrow never die when you see it's an evil british media baron, i'm thinking evil -- [laughter] all right, stop. but i'm wondering where this goes. because, you know, this has gone on since this is a wonderful life, mr. potter, the evil banker. i get that. and they're very simple to relay black and white stories, but i think it does partly sway go after the business guys to get your taxes. it does feed even whether we know it or not a subliminal anti-business sense. and believe me, and i think you kind of touched on it, mark, some of these companies get their just desserts because some of them go over the top. but i really believe most do not. and maybe that's my naive view of this, but i think hollywood would be well served just showing a little bit more
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balance. your thoughts. >> well, absolutely. you know, you mention -- carol mentioned ayn rand. absolutely, in her books theseville people were the9 looters, they were the communists, they'll the socialists, they were the ones looting, taking from the rightful owner of the money, peopling that earned it and created it. look, i would take an entrepreneur making a million dollars a year versus taking half of all their money, sending it to the government. they're going to keep that money, the entrepreneur would make far greater choices, far more jobs, far greater increase of and good to the world. i'm going to bet on the entrepreneurs and the innovators, not the government. less government, more capitalism, entrepreneurism. and hollywood definitely does not want to tell that story. they're very left-leaning, they're very liberal, and there's only a handful of people in hollywood. many some of them are hiding out that are actually conservative and believe in free market
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capitalism. neil: so i guess, carol, we have to boycott all media companies. oh, wait a minute, we can't do that. [laughter] your thoughts. >> well, as a proponent of free markets, i would say, obviously, vote with your wallet and consume, you know, what you want to consume. but it is unfortunate. hollywood in and of itself is not a free market. it's very protected, and it could be one of the reasons why they're enabling this message. but it does seep down into not only pop culture, but just the way people think about envy and who they direct their anger at. i do think it's unfortunate. however, i don't think we can let hollywood lead the charge out of it. it doesn't benefit them. we need other people who are in the free market to continue to talk about the benefits of it in order for that to permeate through people's economically illiterate brains, unfortunately. neil: unfortunately. final word. carol, mark, thank you both very much. we're just having fun with this segment, guys. if you like a fun popcorn movie
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that's great add venn eture, great special effects, by all means, go see this. although, take a close look at godzilla and see if you don't see a couple of people in washington. that's all i'm saying. but i digress. dependent on the prompter. [laughter] could you move up to our next guest here? it's grady trimble, he's in arlington the, texas the, right now. the texas rangers reopening their stadium, full capacity, grady. i couldn't believe that, that's 40,000 plus. >> reporter: and the only team in the mlb to do so. the stadium just opened, and if this game is a sellout like they're expecting, 40,000 fans will be inside the brand new stadium, globe life stadium. this will be the largest event since the pandemic started. just for perspective, this event will be bigger than the super bowl, daytona 500, the world series which also took place
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here and the ncaa final four and finals games which the finals taking place tonight. we should also mention that it has drawn quite a bit of controversy. president biden called it a mistake and not responsible, but the rangers are saying, you know what? we can do this and we can do it safely. inside the park you're required to wear a mask unless you're eating or drinking, you have to social distance in concession lines, and it's a retractable roof stadium, so it'll be outside. the fans that we've been talking to say we've shied away from the controversy, we're just competed to watch some baseball -- excited to watch some baseball. >> it's fantastic as far as i'm concerned. i'm ready to breathe a little fresh air. i know i'll be sitting in with a mask, but at least at some point i'll have a hot dog. >> reporter: governor abbott was supposed to throw out the first pitch, but he's since
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declined. he said this in a letter to the rangers: it's shameful that america's pastime is not only being influenced by partisan political politics, but also perpetuating false political narratives. abbott will also not participate in mlb events or seek to host the all-star game in texas. we've been talking to fans out here, neil. that news about abbott not throwing the first pitch, it broke while we were interacting with fans, and they were not aware of it and, frankly, they didn't seem the care all a that much. they're excited to get in the stadium, as i said, and watch a baseball game surrounded by 40,000 other people for the first time in a year and what feels like a lot more than a year. neil? neil: it certainly does. thank you, grady, very, very much. grady trimble following all of that in arlington, texas. you know, i was mentioning the whole king kong thing and godzilla movie.
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♪ neil: you know, thinking of who is like our kong here at fox business? that would probably be charlie gasparino. [laughter] the new york connection, you know, sigh scrapers and money -- skyscrapers and money falling down, and he's following requests for more money in new york, more taxes in new york. no wonder why king kong left a long time ago. >> i'm not godzilla? how can i get kong? thee neil the new york
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connection. >> okay, gotcha. neil: i like the old rubber suit days. i don't know, all these -- >> scaled the empire state building. that's right. i forgot about that. neil: if you would play along with me, that would help, charlie, but go ahead. [laughter] >> well, i will say this, what a difference a year makes in the municipal bond market marley and covid and the -- particular my and covid and the economy. last year we were at the depps of the covid -- depths of the covid pandemic. massive measures by the fed helped bring the bond market back, also the fact that the trump administration cut taxes, did a massive stimulus package, and that prove improved the whole nation's economy. that was the good part. the bad mart -- and moon any bonds -- muni bonds especially in states with harsh lockdowns, illinois, california and new york suffered the most at first. they've all come back. here's what we do know, muni
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bonds in those states are raging, and why? the simple pact of the fact -- fact of the matter is we have massive aid from the federal government, recovery, and in the short term we have new taxes by new york state. "the wall street journal" first broke last night that governor cuomo was near a deal, it was kind of being baked into the market. cuomo has signaled that he wanted to raise taxes on rich people, on corporations, on capital gains, and it looks like they're about to announce some sort of deal in 24-48 hours. that will be applauded by rating agencies. that's good in the short term. muni bonds will go up because the rating agencies like tax increases. they think it's good for revenues. the problem that new york state has and california the same, and illinois to a large extent which has a whole host of other fiscal issues predating the pandemic, is that people are leaving the state. i think one of the problems i'm
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hearing from investors is, okay, munis are a pretty good buy now, they're not blowing up. because taxes are going up, there's a natural inclination if you're still in new york state to go and buy new york state moon bonds because you get the -- muni bonds because you get the triple tax benefit. but long term if people leave the state, people can save money by literally moving a lot of money to connecticut as opposed to new york right now. if that continues to be the case, long term we're setting up for a problem with the tax base here in new york and new york city and new york state which, by the way, neil, we are talking about the second most indebted state in the country after california. so we're talking many, many types of different bonds, lots of debt, an eroding tax base. there's just so many government bailouts that are going to occur, and if you lose your tax base from rich people leaving,
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that's going to put pressure on muni bonds. the rating agencies eventually will downgrade new york city, new york state, california, illinois if that happens in these states. so i will say short term if you've got to symptom money, probably now's the time to buy munis, but watch your investment. there was a time to buy puerto rico muni bonds before they went into default. i'm not saying new york city and new york state are going into dethe -- default, but you could have a situation like you had in puerto rico. neil, back to you. neil: yeah, it happens. it's rare but be aware. thank you, charlie, that was of great stuff. you are a monster business reporter. all right, governor desantis has just declared a state emergency in florida, but it has nothing to do with covid. i'll explain after this.
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manatee, that is south of tampa and north of sarasota. hundreds of residents, including some prisoners at a local jail, have been evacuated for their own safety. and overnight the county's special drone detexted what could be a -- detected what could be a second break in the detention retention pond wall. the state national guard brought in 20 emergency pumps over the weekend to help alleviate the pressure on one of the three retention ponds. they're from an old commission decommissioned phosphate mine. the main worry is a catastrophic flood as well as massive fishkills and algae bloom in tampa bay where the water flows. county officials say the latest models show that a breach at the reservoirs could lead to pond if walls collapsing and 340 million gallons gushing in in just a matter of minutes sending a
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potential 10-20 foot wall of water into nearby neighborhoods. the fluid in the three storage ponds is a mix of waste water and and saltwater and loaded with nitrogen. >> what we're looking at now is trying to prevent and respond to, if need be, a real catastrophic flood situation. the water quality issues that are flowing from this for us is less than the risk of everyone's health and safety. >> reporter: more than 300 homes in the area have been evacuated. this is in an area just north of bradenton, florida, in a place called piney point. now, the current leak is just one of -- is just in one of the three retention ponds there, and officials fear that if it collapses, that pond wall, that will take the pressure that's holding the other two ponds in place and let them all flood out massively. neil?
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neil: man. scary stuff. phil keating, thank you very much. phil in miami with that. in the meantime, some news to pass along from the west coast right now. teachers in l.a. are demanding free childcare, that is for their kids. and, obviously, it's rubbed some parents the wrong way, probably among them, independent women's senior foreign policy analyst. i don't know where to begin with this one, inez. the one thing that stands out that the teacher want special provisions and carveouts and free babysitting for their kids, but it would be on site too in a lot of cases. so when i hear from the unions saying just the opposite it's dangerous and all of that, i'm getting mixed messages. what do you think? >> sure. it highlights the fact that the teachers unions have been using the pandemics to get a whole bunch of political concessions that they've been wanting for quite some time. we see this, for example n a federal bill where these
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billions and billions that are allegedly put towards reopening schools, most of that money is not going to be spent until 2022 and even beyond. there's more money spent in 2026 in this bill than there will be in 2021. this is not about the pandemic, it's not about getting kids back to school safely, it has always been about politics, and i think parents are realizing that, actually, the education system runs primarily for the benefit of the adults employed by it, not for the benefit of educating children. neil: you know, inez, this is a dumb question on my part, but you've endured them over the years from me. what if this is the ticket to which parents can get teachers back in the classroom, go ahead, babysit their kids so i can return my kids to school? a small price to pay. what do you think? >> i mean, i think a lot of parents would take that deal out of desperation, but i think we shouldn't forget how parents and how the country, frankly, has been held hostage by the public
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school system during this crisis. i mean, this is unique. we are unique in this. european countries mostly kept schools open. it's not a heart of science, it's not a matter of health and safety here, it is the about the power of the education system, more specifically the power of the teachers unions. and frankly, what we're seeing is a response from citizens, from parents that are now pushing for school choice programs to actually get their hands on the funds that are going directly to, as i said, fund what is primarily an employment program for the adults in the system that do not, that does not prioritize the education of the children that we're supposedly paying this money for. we have over 30 bills in the state expanding school choice programs or introducing new school choice programs. kentucky and west both passed school choice programs, those are two states that have been resisting for years and years and years, finally passed them
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just in the last month or so. so i think we are seeing a response from state legislators, we're seeing a response from parents, and i just hope people don't forget how they've been treated this year by the school systems. neil: yeah. it is certainly inconsistent. inez, thank you very much, following all of this as with are we. the dow up about 375 points, at a record. nasdaq advancing very nicely, technology storming back today. tesla, amazon, apple, they're all envogue. after this. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down?
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neil: improvement in the economy, optimism that is going on lifting stocks across the board. first chance to trade on the strong employment report on friday. they are not wasting a nanosecond. here is charles. hey, charles. charles: neil, thank you very much. good afternoon, everyone, i'm charles payne. this is "making money." breaking right now, fomo is back. feels like a new day in america. people are flocking to theme parks and movie theaters. the stock market does not want to be left out of all that fun and we could be in a goldilocks scenario with the economy hovering much higher with the fed holding rates for a few years. the question, how do you play a market that is breaking out? we have the folks with the answers. treasury secretary janet yellen proposing a global minimum tax on corporations to keep american companies from jumping s

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