tv Cavuto Coast to Coast FOX Business April 23, 2021 12:00pm-2:00pm EDT
breeding purposes, because darius was -- i'm sure he still is -- the largest rabbit in the world, bar none. the buritz go in for that -- the brits go in for that kind of thing. that's my story, i'm sticking to it. neil, it's yours. [laughter] neil: now, that is a lead-in, my friend. thank you very much. all right. where do you go with that? the dow is up 160 points, obviously rebounding from the concerns that we're going to see a lot higher capital gains taxes although the i was reading a column in "the new york times" saying that that that was the education tent of the worry, the 1% selloff, that's as bad as it gets. i'm not so sure of that. the notion that maybe, maybe a lot of people don't think it will come to fruition, or if it does, it won't be nearly as high as it's made out to be. in fact, might be an opening salvo in all of this. however you look at it.
it will be a dramatic hike in taxes bringing the top rate to 43.4% if you add in the 3.8% a lot of rich folks have to pay to keep funding obamacare. we're going to explore that in more detail here and see exactly what this is all about. now, you might have heard the biden administration has presented this as something that i affects only one-third of 1% of, you know, residents in this country. in other words, the overwhelming majority, 99.7% of us, will not be affected by this. but that, if the rich start selling en masse, obviously, that could have a direct impact on investments that you might have in your 401(k), your pension fund or just anything else. so we'll explore that a lot more in detail. but first to blake burman if on this capital gains hike and what we're really looking at here, how real it is looking, the kind of support he might be getting. blake, what's the latest?
>> reporter: and one backer, neil, of the white house or at least of the plan, i should say, presented it to me exactly that way early this morning, look, three people out of every one thousand would be affected by what the president is proposing. that is sort of their argument for it, but you can also see what happened in the stock market yesterday as an argument against this policy. at this point it is the a policy proposal, though we can tell you that the expectation is that the president will propose raising the capital gains rate to 39.6%. what we don't know at this point, neil, is whether it will be retroactive, peening if -- meaning if it would start in 2021 or 2022 and whether it would be ordinary income plus capital gains. the white house says this'll go to a pay for the american families plan. it comes also as the white house says corporate taxes should be raised for infrastructure. of the white house says that is
a one-two combination that they're comfortable with. >> we're till finalizing -- still finalizing what the pay-fors look like. but i will say that the president's calculation is that there's a need to modernize our infrastructure, there's a need to invest in childcare, there's a need to invest in early childhood education and making our kids and the workers of the next generation more competitive. and he should propose a way to pay for it. >> reporter: already today we are seeing democratic members on capitol hill calling for a $700 billion package over ten years for universal childcare. they've written to the president, quote: we write to urge you to include i a substantial investment in universal childcare in your american families plan. as the pandemic has made clear, childcare is essential infrastructure that makes all other work in our country possible. so the lobbying already taking place, neil, as to what could potentially be in the american
families plan as, certainly, there will be negotiations as well on exactly how to pay for it. neil? neil: all right. blake where, thank you very much for that. well, the administration, as blake pointed out, is positing this as something that's really for just the creme de la creme, the one-third of 1% who would be facing this higher capital gains tax rate that goes all the way up to 43.4%. but when i was talking to senator bill cassidy on this, the big republican against this whole thing, he says, no, no, they are wildly underestimating the impact on the markets and the economy. take a look at this. what do you think of all this, senator? >> take this money, filter it through the government agencies. of course public employees do pretty well and then give it to the favored few hoping that we do well. it is a difference in philosophy unfortunately, the average working person is who suffers. >> that can be on the backs of
the wealthiest americans who can afford it, and corporates and businesses who can a-- corporations and businesses who can afford it. his view and the view of our economic team is that won't have a negative impact. neil: that won't have a negative impact. that is the administration argument here. and when it's endorsed by the likes of paul krugman in "the new york times" talking about if the fact the markets were so panicked about it, they fell all of 1% yesterday, and to some extent, they're coming back today. gary kaltbaum. ann berry. app, the administration's take on -- ann, the administration's take on this is it is much a ado about nothing. but if the rich do -- [audio difficulty] generally acknowledging. >> yeah. i think the market has shown what its reaction is, neil, already.
and i agree with that new york times article. think that 3% move is probably -- 1% move is probably the extent of it. i think that there is a probability that the proposed capital gains hike comes in lower, that it'll be negotiated down, that it will impact a relatively small sector of the u.s. taxpayer base, and i think the impact on the market that we've seen so far reflects that. so i think looking at a number of other policies in the ago aggregate, it shows the democrats are doing what they said they were going to do. they're going to lean in to welfare, find a way to fund it, but i think market is showing a fairly limited response to it so far. neil: you know, i don't know if that -- with all respect to ann, gary -- i don't know if that will be the eventual response if this actually happens. if, in other words, we see a top, you know, cap a gains rate of 43.4% and recognizing that possibility, many investors wealthy and otherwise are not going to sell off because either they don't see it happening, or
happening to that degree. even though a doubling in the capital gains rate was well telegraphed by the biden campaign. so explain the markets over the last day or two to this, gary. >> well, we're still in what i call meltdown mode, and until something gets done, nothing gets done. so i think markets are going to be higher first, and this has been going on for a while. but let me take away the worry if they sell. i will guarantee you they will sell. there are trillions of dollars of long-term capital gains sitting out there with one expectation, and that is when they sell, they're only going to pay 20% plus the obamacare tax. and now all of a sudden the expectations may go up to 43%. so you're going to have all these investors meeting with their accountants, adding up the numbers on what would happen if they sell before it goes up.
and we're talking a big matzo ball, my friend. [laughter] late stages in a bull market, i think it has a real impact. but let's not forget something else here. we talked about there would be no impact on the capital gains. oh, yeah? there's also a corporate tax hike. there's also an individual tax hike. there's a 12.4% social security tax hike on the way. and the only thing they want to lower is the deductions for businesses for these people. so raise the rates on taxes, lower the rate on deductions. this is the most anti-capitalistic thing i have seen in decades, and it doesn't bode well for the market or the economy if any of this goes through. a very intellectual congressman already came out and said, huh-uh, too high, i'm already
losing tons of people in business from new jersey, we need to change this up. neil: ann, interesting study that was conducted, i believe it was quoted in market watch that showed the last time we increased the capital gains rate, we saw, you know, we saw an impact where the 1% were selling en masse. now, at that time, at that time, you know, you saw a hit to the market. it wasn't as big as some feared. it was a gradual bloodletting that went on after that. but the argument was that if they account for roughly, you know, 10% of the market worth out there, the 1% account for that investing, is so back at that time maybe about 17.79 trillion. of that market you could make the argument that they would be responsible for $178 billion worth of selling this go round.
does that worry you? that same percentage -- if that same percentage materializes? >> here's why it doesn't so much concern me. we're assuming that there's a big selloff, and then you've got to ask ourself, well, what do the wealthy who have been sold get ahead of the the capital gas tax hike, what are they going to do with their cash? and the issue right now is you've got very low interest rates, so there isn't another asset class it's obvious to send that cash into. and so what i'm not anticipating is that there's going to be a flood of selling activity because i don't think there are great alternatives other than the stock market right now that the recipients of that cash can turn around and put their capital into. i think what is a little bit unusual about this point in time is that the demographic that would see a capital gains tax hike is more likely to try and just hold and maybe ride this out to see if there's a reversal in any of these tax hikes or a
change in policy while not having anywhere else to put it right now. neil: you know, gary, i don't see that materialize. a lot of respect to ann a, a lot. i think simple math begs against that happening. if you're going to have to pay 20% more for something if you don't unload it now, you can talk about the gains you've had in amazon, tesla, whatever these high flyers are, but lots of people are smart like a lot of average investors are smart. why would you risk that and talk an extra 20% shaving off your investments if you don't have have to? >> and let's talk about how markets work. if this starts occurring and people start selling and it starts feeding on itself, these people are going to recognize that they're not dufuses, and then it starts with the cascade. there's just so much fear, if it was capital gains by itself,
still no good. 43% is ridiculous. you're telling people long-term capital gains, the people that have done things right, we're going to take out almost a half from you. and, by the way, that doesn't include what goes on for state taxes also. it just flies in the face of incentivizing the right things. it just makes absolutely no sense. and, again, let me repeat, they will sell. i will guarantee they will sell. people, for lack of a better word, are greedy with their hard-earned, saved dollars. and if they see another 20% coming out of it next year, they are going to sell this year. now, the one thing let's hope they don't do is go retroactively this year. i think if they do that, they'll have all heck to pay politically. again, i just don't see anything good coming out of it. all they talk about is higher taxes and bigger government on a daily basis, and that's the opposite of what i think makes
the economy drive forward. neil: all right. we'll explore this in atlittle -- a little later in the show, guys. a lot of this is based on the notion that at least part of the rub today that it isn't a gimme it's going to happen in the first place and, secondly, it won't be retroactive. the wealthy found out in new jersey they had to pay that on their taxes when they were filing this year. so leaving that aside and that expectation, the issue comes back to the wealthy and whether this is, as the biden administration said, them paying their fair share. now, all of this started sometime back with bernie sanders when he was running for president back in 2008. one of the issues i had raised with him was this notion of what is fair share? even then i couldn't get ad good answer. take a look. is the way to rectify the gap between rich and poor bringing
the rich down, in other words, taxing them more? >> no, it's -- no. the way -- look, let's remember that under dwight d. eisenhower, he had a marginal tax rate for the top, the wealthiest people in this country of 90%. by the way, the economy really flourished. neil: i've had democrats tell me, neil, it was 70 plus percent when jimmy carter was president, so we have a ways to go. was that their way of saying that 50% is the floor? >> no. who are these prominent democrats who said that? neil: if i told you, i'd have to kill you. >> we don't want to do that. before you make those statements -- neil: but you said, you were brag about the fact that 90% used to be 90% -- >> i gave you an indication that eisenhower, the economy did very, very well when you have that as -- neil: but you're not saying it should be 90%. >> no, i -- of course it is not going to be 90%. what i am saying is that the
time is long overdue that we start protecting the middle class. neil: all right. that was bernie sanders, 2008. he was not running for president then. i misstated. he ran in 2012 and again in 2020. one of the things i do want to point out here in this discussion is whether that is a fair figure, whether that is a fair share figure. and there's a raging debate back and forth on all of this. dick grasso, former new york stock exchange chairman, on this. dick, the argument is that it's only the very, very rich who have to bother with this, a third of the top 1%. barely perceptible, so barely any impact at all. what do you say to that? >> well, neil, i think what was floated yesterday -- and it's great to be with you. what was floated yesterday is a series of concepts that fly just about as well as a rock off the
top of the empire state building. and i think the biden administration is going to be surprised that they will get enormous pushback from blue state leadership. when you look at california, new york, new jersey and connecticut and add those state taxes, the top rates for capital gains go to close to 60%. neil, if you want to destroy this economy and destroy job creation, they've found, if you will, the golden kitty. i believe, you know, a fair share is not going to be opposed by those in the class of investors that we're talking about, but a confiscatory rate. and when you add to some of the ideas that have been floated today such as a stock transfer tax, a futures transfer tax, i mean, all you're going to do is
kill job creation, push investment offshore, and you'll hurt the people that most deserve to be helped, neil. i mean, this is, this is really a foolish set of ideas. neil: so why do you think that the markets aren't reacting that way? that they're more than holding their own? between yesterday and today, they're kind of back where they were before all of this. you think about it, the cap gains hike was well telegraphed during the campaign. maybe not the whole 43.4%, but that 3.8% surtax to pay for obamacare that the wealthy have been paying, that's not going anywhere. maybe it was that figure combined that hit them, but they're still doing okay today. what do we make of that? >> well, i don't think the market is reacting, to gary's comment earlier, because the market doesn't expect this to go very far. you know, i think everyone
anticipated that if joe biden was elected president, there would be raising of taxes, and included in that would be a capital gains raise. but not to, not to basically double it. i mean, that's what he's talking about. you know, people are saying it's a 20% marginal increase. that's wrong. it is a 100% increase plus that 3.8%, plus the state overlay. i mean, states like california, new york, new jersey that are now seeing migrations of the top, if you will, investors out of those states, i mean, they're going to be booking their flights right now. i mean, it's just a foolish proposal. people don't mind paying more taxes to help the economy grow and prosper. and particularly to help those who need help the most. but this is not that, neil. s this is almost a venezuelan/cuban proposal.
that is, let's make the rich poor, and let's assume that the poor will become rich. i mean, that's just fallacy. neil: we'll see what happens. it is wild. dick grasso, thank you very much. a lot of you have been e-mailing when we were talking about this market watch study. the last time cap gains, the rate itself, was hiked was back in 2013. the wealthiest households at that time sold about 1% of their equity assets. now, according to a federal reserve study, the top 1% hold around $17.8 trillion worth of equities and mutual funds as of right now. so a 1% selloff rate akin to what we got in 2013 when the capital gains rate was raised would translate to about $178 billion worth of selling. that's how they come up with that number. and it is statistically consistent at other tax hike
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that cases in michigan started stabilizing right now, talking covid cases there. still, restrictions are in effect in the state. the governor says out of an abundance of caution to make sure they get over this. our jeff flock reporting now from michigan with the latest. what's going on there, jeff? >> reporter: well, it's a big resort area, and, you know, we're in the western part of the state here. the spike has been in the eastern part of the state, but the restrictions stay in place here. i've got leslie, the owner of one of maybe the most popular restaurants called the stray dog here in new buffalo. the governor here has been under some fire for her, you know, handling of this. you don't have metrics. some states, even new york they say if you achieve this, you can open back. >> right. we have no guidelines for when we can reopen, at what level. so right now we're just kind of saying that we're going to be the same as we were last summer. >> reporter: take me through, if you would, go ahead and lead the way, leslie. i want to take you inside the
restaurant. we've got to put asthmassings on, neil, because there's still a mask mandate. take a look at the restrictions that have been left in place by the governor. governor whitmer said, you know, there were supposed to be restrictions come off this week. she said no. and, again, without -- and go ahead with me, leslie -- without without -- [audio difficulty] as well as inside. i want to take you up to the roof. what they've done is on the roof of their restaurant they have erected a huge tent because you can have outdoor dining. oh, it's beautiful up here. i don't know how you survive in this. >> i think that we needed to plan ahead and be able to just say that if it doesn't get any better, this is what we need to do to be able to have a thriving business. >> reporter: they haven't laid anybody off and fortunately -- come on over here, if you can see that, steve -- we've got a
huge crowd of folks here. this is a resort area. >> it is. >> reporter: you're still only 50% capacity. >> we are. tables are 6 feet apart even on the outside, but we're trying to create an atmosphere that people can feel comfortable and have a good time. >> reporter: neil, before i get away, some people have questioned do these things help or not. we looked at two opened-up states like texas and florida with negative, you know, the states that have locked down like new york and california. if you look at that, the numbers are pretty much kind of not that far off for either of them. >> no, they're not. they're -- [audio difficulty] neil: all right. with we had some audio problems there. i apologize for that. jeff flock, thank you. it's very interesting. no different between the states that have all these massive restrictions and those that did not in that they have kind of the same results. stanford university medical center associate professor,
doctor, thank you for taking the time. michigan is a bit of a conundrum, doctor. we're happy to hear these reports of cases now stabilizing, but still pretty tough restrictions in place just in case. what do you make of that? >> yeah. good morning, neil. you know, it is the, of course, concerning to the nation and the people of michigan to see this second peak. they have led in the last two weeks on cases and hospitalizations, and certainly some of those hospitals are feeling overwhelmed. at the same time, it is spring, people are definitely wanting their kids back in school, to participate in athletics, they want their businesses to stay thriving because of what they've gone through this last year. it's going to need a balance. you know, i support the governor when she looks at therapeutics, expanding vaccination efforts and telling people to re-examine again whether or not they're
using their masks, keeping the social distances, etc. but i think to further lockdown, which is something that the cdc director suggested, it's going to be very tough on people. we have to balance the risk of covid with all the other risks that people are suffering from including mental health. neil: you know, doctor, it's interesting, and i'm hoping it doesn't come here, but with reports of big problems in india and brazil, india reporting 330,000 new cases of covid, that's a record through the whole pandemic, brazil is now facing a hunger epidemic as a result of what's been going on with covid and the inability to get food to a lot of people, that sounds like a nightmare. and i'm just wondering, i'm sure there are special circumstances in both these countries, but should we worry about stuff like that? >> well, you know, what we really need to probably keep focused on is the variants of covid that we are seeing and hearing about both in the united
states but certainly abroad. we definitely, i think, are hummelled when we see the -- humbled when we see the countries overtalking many other countries -- overtaking in terms of hospitalizations and deaths. it does signal that we can't become complacent about these new variants. we have to insure that they get sequenced, that we understand them, what is their transmissibility and are they responsive to the antibodies that we're getting from our vaccinations as well as natural infections. so, yes, i think what we really have to make of it is watch those countries, watch what their scientists are doing, collaborate with them, understand what their vaccine rollout efforts are and are there other factors playing a role such as variants. we really have to today on top of the new variants in terms of our understanding of the science behind it and keep up our vaccine efforts. neil: all right, doctor, thank you very much.
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what's going on? >> well, you always have to read the press release and what they're actually saying. so it's a stagedded change. but they're also saying something that the i've been touting which is hydrogen. hyundai and honda are both working on fuel cell technology. back in the bush administration, that was the push. i test drove an explorer that had a fuel cell as well as a couple general motors products. and we were moving that direction, and then the obama administration came in and said, no, we're going all ev. so they're pulling those plans back out. i think hydrogen might be ad good answer. there's not really the infrastructure, but there isn't for electric either, and ill tell you what -- i'll tell you what, people aren't going to like the insurance or repair costs because it's about twice a regular car. there's going to be a lot of factors here as our government tries to take over everything in our life. neil: i'm just wondering where it all goes. you did raise a couple of good points here, that certainly
up-front costs for an electric vehicle are substantial, even the up-front environmental benefits are not nearly as robust as, i guess, this is where the ev crowd comes in to say over time they get to be substantial. what do you think of that? >> yeah. but the impact to the environment is gargantuan. so right now we used to be energy independent. well, this administration stopped it. so now the middle east is like, yeah, we'll help you out with fuel. but wait a minute, you want to make everything electric, that means you need rare earth minerals. we're going to have to get everything from china which makes us completely beholden to them for cobalt, lithium, silver, all the metals, you just saw 50,000 miners could potentially lose their job in coaling alone, you can't use coal or natural gas, we're going to be absolutely weak compared to our competition because it makes -- i'm talking from a military and economic standpoint which is not really my
expertise, but it's pretty obvious this is all tying into one gigantic nightmare. and decide -- besides that we now have a chip shortage. and guess a why? china has been hoarding them because they saw it coming. they're caroming the materials -- controlling the materials we get for battery, to build cars, this is why manufacturers have shut down production in many cases. this is going to hurt all of us. neil: wow. lauren, thank you very much. again, honda the latest carmaker to say this is our goal, to move away from tradition algas-powered vehicles -- traditional gas-powered vehicles. it's a way, we'll see where it ultimately sorts out. in the meantime, sorting out this capital gains tax hike the administration is considering, and the market's curious response to it. is it saying, you know, we don't
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visit paycom.com for a free demo. ♪ neil: all right, the capital gains tax is effectively going to double, why is the market okay with that? maybe because they overreacted yesterday? hard to say. maybe they don't think it's going to come to fruition. hard to say. maybe they realize 3.8% of that figure was already etched in there. but it is a little weird. charlie gasparino is here. charlie, where is this whole thing going? >> well, i -- based on my
capitol hill sources, i have a lot of sources that have a lot of money to lose on this. people at private equity firms, they have lobbyists. here what they think is going to happen. the whole 43%, again, blended with the taxes already there to paw for obamacare, they're -- pay for obamacare, they're probably not going to get that. you see some of the trading is reflected this feeling that's coming from capitol hill, that the biden administration will accept something in the 30s. it could be 35%, 34%. it's not going to be as high as 43% all in. so the market is starting to price that in. i'm just saying that's the general feeling here. you're getting that from sources on capitol hill. still, this thing is going to be devastating, and here's where it's going to be devastating. particularly to and california, because if you look at the tax laws in both of those statements, new york state, for example, has a capital gains tax rate already. on top of that, a new york city capital gains tax.
california has a capital gains tax. so you're layering on these states increases in taxed capital gains on top of what already is there, capital gains tax rates. both of those states are experiencing massive exoduses out of the state of high-end people who are going to california or in -- excuse me, going to florida in new york's case or in california's case, texas, to avoid all sorts of taxes. that trend will continue. now, it doesn't take a rocket scientist to figure this out. but we did ask governor cuomo's office for a comment on this, and now the tax plan, the biden tax plan at least according to the comment we received from from cuomo's office is getting some pushback from the governor who had to just raise taxes himself. here's what he said to us, we asked him, what do you think of this tax plan? you should have a full screen for this. when a plan is advanced by the presidential administration if, we will review it. however, as the governor has
said, any further federal tax changes must roll back the cap on the s.a.l.t. deductions. as you know, they were capped during one of the trump tax plans. the first double tax in our nation's history, that's damaging new york's and similarly-situated states' ability to compete and costing new yorkers $2.3 billion -- 12.3 billion a year. it's probably unlikely that they're going to reinstall the s.a.l.t. deductions that trump essentially eliminated, and the real question is why hasn't chuck schumer, the majority leader, spoken out against this? the thinking on capitol hill is he's worried about a challenge from the left, maybe aoc. he has to support this even though it crushes big business in his that state and causes more people, high-end earners to leave the state. we should point out, neil, high-end earners probably pay at least 50% of the taxes here. not like this is not going to
cost new york a lot of money. back to you. neil: i'm still, you know with, confused about relaxing because the cap gains rate might end up in the 30s. >> it's still high. well, and that's on top of the state stuff. neil: right. >> that's why it gets really a bad for new york. listen, what's the two biggest problem new york city faces? a declining -- crime, obviously, you know? but a declining tax base. they're leaving for florida, and that's going to be exwe dieted if this thing -- expedited if this thing goes through even if it's 35%. neil: thank you, my friend. good seeing you. charlie gasparino on that. well, in case you're counting, spacex now has four more astronauts launched into space. so in less than a year, elon musk and that space venture of his has sent ten restaurants in that time. what happens -- ten astronauts in that time. what happens now?
♪ neil: all right that that makes ten. with the launch of four more astronauts, spacex now can argue that it has, in less than a year, launched ten human beings into space. another reason to pay very close attention to what spacex is up to because elon musk has already come out and say we should not be inclined to stay just on this planet. mars is his next goal. jonathan erie at cape canaveral -- serrie at cape ca-and-a-half a real. >> reporter: hey, neil. nasa and spacex are celebrating a flawless launch that went down at i 5:49 this morning. watch. >> 5, 4, 3, 2, 1, 0.
ignition and liftoff godspeed, endeavor and crew two. >> reporter: the endeavor with four astronauts aboard, the rocket's flaming trail lit up the predawn sky and could be seen for miles. resident is the and tourists gathered in the nearby town of cocoa beach to witness the event. >> the whole sky lit up right before launch, and then you see the trajectory of the rocket going across the sky and the various stages, releasing off the rocket. it was, it was much more exciting being here in person. >> reporter: within minutes the endeavor spacecraft was in orbit and is expected to dock with the international space station around i 5:0 saturday morning. -- 5:10. the astronauts sent greetings back to earth. >> that was incredible. the ride was really smooth. we couldn't have asked for
anything better. there may have been some hooting and giggling up here while all that was going on. we hope you enjoyed the show as well. >> reporter: and when these astronauts dock with the international space station, there will be a total of 11 astronauts onboard the iss. neil? neil: wow. it's getting crowded. all right. thank you very much for that, jonathan. ann berry is back with us, gary kaltbaum. guys, i was thinking of investments idea there's already an etf that invests in space, you know, related spacex included, you know, issues and stocks and ventures. i'm just wondering, ann, what you make of that and trying to take advantage of this new, burgeoning industry. >> what i think is so exciting, if you look back at the space race, it's not just about the spaceship technology created
here, it's about all of the other pieces of technological innovation that can come from the fact that you've got so many great scientific minds focused on space and being funneled so mean beingfully. so i think we're -- meaningfully. i think we're in the very early stages of as central travel. i think -- it'sal travel. i think what musk is doing is the tip of the iceberg. going beyond the moon to other parts and out there, i think there's going to come with it huge innovation in communications, other forms of aircraft innovation and travel coming out of this. so i'm really bullish on the space. neil: you know, we're no longer hitching rides with the russians. that's a good thing, gary. of course, you're in space central, florida itself. i'm just curious, where do you see this going? the a lot of people say maybe we'll get the same feel we had back in the '60s.
what do you think? >> neil, when elon musk used to say mars, i used to say what? i don't say what anymore. the man has shown to be a visionary. i don't think there's limitations anymore. and i'm one of the privileged people here that i walk outside my house at night, look up to the right in the sky and see a gleaming orange, little pill that's carrying people far, far away. it is just amazing. i know how much you love this space industry. it is just magnificent. and there are many times my family will get in the car and travel just 25 miles towards cocoa beach, and this is thousands of cars sitting on the road watching this. so this is really big stuff. i expect it to be a very big business going forward. i must tell you i'm not sure if what fashion the passenger thing, i'm not so sure i'd do that, but i do believe there is room for this. and as far as the etf, they have
lockheed martin in there, general dynamics, a lot of things that have to do with space, and i just think it's a bullish scenario going forward. and elon musk, there's not enough standing ovations for this guy. and now, as you said, we don't have to depend on the russian soyuz spacecraft anymore, and that's big stuff. neil: yeah. that says a lot right there. ing final word on that, gary. ann, i want to thank you as well. we've got a lot more coming up because it looks like the market is shooting for the stars. see what i did there? look, it's the best i could come up with. after this. ♪♪ paradise, paradise ♪♪ lately, it's been hard to think about the future. but thinking about the future, is human nature. ♪♪ at edward jones, our 19,000 financial advisors
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♪♪ ♪♪ ♪♪ neil: you think buying new homes has become hot, with new homes sales servers it-- surging you would be right, but renting them has proven even hotter right now as the vacation search is on. lydia is a seen it firsthand in a new jersey. reporter: hello, we see this and spend like jersey at and areas within driving distance of big cities across the country. here i can tell you realtor
say usually bookings start around march or the vacation season, but this year nearly all of the properties were fully booked by february. listen to this. >> it's been absolutely crazy this year. by february, we were completely booked. it's really driven prices appeared this year we have seen prices have gone up approximately 25% as opposed to the year before. some clients obtained a $35000 a week for their home. reporter: that's right, $35000 a week for a beach house here in springlike, new jersey appeared look at some of the beautiful homes on the beach. it's not just high demand here in new jersey but also areas like the hamptons with properties renting for 10 to 20% more as compared to preet pandemic rates and cape cod seeing a surge in demand up by 30% and florida realtors telesis on properties are
fetching nearly double the pre-pandemic rates appear to listen. >> i mean, the rental rates like, i mean, we have seen like from a year ago double like you would pay what they are paying now from a year ago. we have no sign, i mean, even coming into may, that it's slowing down. four not one of the factors driving this is that people that own these beach homes are not leaving because they can work from anywhere, so why not work from your vacation spot? back to you. neil: yeah, it does make sense. beautiful there. springlike is a beautiful area. thank you. i want to go to my friend. danielle, i think stories like that are what our are offsetting concerns about a potential capital gains tax hike. i'm not minimizing the impact of the tax hike if it comes
to pass, but i'm not sure it will, but i think the backdrop is still what has you know wall street overcoming the initial drop yesterday. what do you think? >> neil, i think there's something to be said for that. there's also the element of what charlie gasparino brought up in the last hour and that's the chatter has come down to somewhere in the 30s so it's not a worst-case scenario, but there's a supply demand dynamic going on-- neil: you know-- >> look, it's not worst-case. neil: okay. >> neil, the most interesting thing i heard was if it was going to be north of 40% capital gain and if you add that to the increase as proposed increase in corporate taxes that could shave 16% of stock valuation, no president wants to see that on his watch even if it's not his stock market so to speak, but the other offsetting good news in the economy, we saw a million new
home sales annualized rate today, that's a fantastic number. you also have a supply demand dynamic going on in the economy to where a lot of people working from home so the supply that's available to families who still aren't really prepared to go crowd into a hotel. they want their own home on the beach they want to feel safe and still get out and enjoy themselves. in the supply is not that big so if you can truly command top dollar, you just saw a clip from new jersey and i can personally attest to the panhandle of florida and the fact that prices have doubled over the last summer as well, so when people are getting that kind of money in their pocket, yes, there is us a lot to smile about that offsets other headlines that might be more daunting. neil: i want to bring liz peek into this mix, fox news contributor appeared if you don't mind, i don't want to over obsess on the capital gains thing and i think january is a good point that if it's in the 30s it's better than 43.4. nevertheless, if it comes to
pass, whether it's in the 30s or the 40s, i can imagine wall street would welcome a development like that, maybe it will come in the may be the economic news trumps that, but if there's a lot of money to platter the market before the higher rate kicks in, witness? >> absolutely, neil. that's the history of these kind of hikes and capital gains rate. some analysis shows it would be at a couple hundred billion dollars based on what happened last when the increased capital gains rate. my guess is it would be more for this reason. first of all we have had extraordinarily good couple of years, several years actually with the stock market gains and people sitting on the lots of accumulated wealth. we know consumer net worth over the last year is up $25 trillion, neil , including home prices going up, but it includes a lot of portfolios going on and also i would point out that an awful lot of the money is in
the hands of baby boomers and we know that those people are retiring. they are past retirement and a lot of people aren't going to take a chance of seeing their gains evaporate and if you are talking 42, 40% capital gains rates, you are losing a lot of money if you sit on that until next year if such a tax were to kick in next year, so i think it would be absolutely devastating. neil: you know those crazy baby boomers. i've heard about them. danielle, she was referring to what happened in 2013, when we raise the capital gains rate and that did you know start the wealthiest to shed some assets. at the time they shed about 1% of the assets held in the market at the time. 17.79trillion today, that would roughly translate into 70-- 178 billion on i suspect today it would be high number.
so knowing that past experience, why are the markets sloughing it off and i don't want to over obsess about yesterday's reaction in today's reaction, but you would think they'd be a bit more scared. why not? >> look, neil, markets have been able to shrug off any kind of bad news for years and years, i mean, that's the bottom line. go back to liz's point about demographics and 2013. back then the median age of a baby boomer was 58, 59 and they had the ability and we have seen in fact 55 plus age cohort increase as a factor of the labor force participation rate for the past decade or so. today, the median age is 66, 67 and baby boomers will not look to stay in the workforce for another decade where it they are at a different stage and looking at their retirement planning, so i'm going to have to go with liz. today it there is euphoric in the. there is talk of a fourth
stimulus check. let's spend even more money we don't have as a country. but, i'm sticking with liz is a bottom line and that is demographically speaking as a country we are in a different place today than we were last time we raise capital gains taxes and there will be in exodus. there will be a move for the exit. neil: it's been a rampaging bull market as you know, liz, so are you still bullish cracks-- are you still bullish? >> i think there's a real chance that we have an inflation scare this year. economists are dismissing inflation indicators right now as being only a sign of a temporary blip. are not sure if that's the case. i also think at some point people will be able to assess the damage with all these biting tax hikes or proposed tax hikes and spending increases will have on our economy. i don't think those things are favorable for the economy so much as i think that the
economy right now is in pretty good shape and that we didn't need trillions of dollars of incremental spending. i do think there is risk in stocks. i also want to say one under thing about the capital gains proposal. you tax things you don't want more of. we want investment in this country, i mean, joe biden talks incessantly about the need for infrastructure investment. we need all kinds of investment and the war on wealth, the war on investing -- he always talks about taxing wealth not work, guess what the richest people in america got rich because they worked at it and they founded great companies. is a terrible proposal for so many reasons including policy wise. neil: alright, well to quote your colleague danielle, i guess they are focusing on the woo hoo . did i get that right? i will have you ladies to talk about the great reopening in this country.
that's another story, certainly in this country, not so in the rest of the world. evan is with us right now. cofounder of the company take my move and really targeted at those eventually looking to move on or move to other sites, don't have to be in physical offices and he helps you through the process. he's in indianapolis. how does it work, evan? >> so, make my move.com. is an online marketplace we connect remote workers to communities willing to pay them relocation incentives. in this brave new world, remote workers have been free to live and work wherever they want to live and work and communities are beginning to redeploy a lot of the incentives that have been directed at companies historically and they are performing retail economic development and getting those dollars directly to remote workers to relocate.
neil: so, you are not locating them to another physical structure in other words or they are free to move to a locale where they can still do it virtually? >> it's a bit above every day a new company is announcing that they are allowing employees to remain remote even after that pandemic subsides, so ford motor company, twitter, salesforce, these are companies that as a perk to their employees and really to help employees live happier more productive lives are saying it live and work wherever you want. that's really opened up an opportunity for those remote workers to make a move, to find a place that matches their lifestyle. maybe they want to be closer to family, may be be to the mountains. what's important is that for the first time, they are able to choose their home and we are finding folks are taking
that opportunity and moving out of big cities like san francisco, new york and maybe going to places where they can find a more affordable home and be closer to family and a better quality of life. neil: what are some of the beneficiary, the locales that had been gravitating to? >> i think we are finding a lot of the communities that may be historically have been considered a flyover cities, so these are small midsized cities often closer to bigger metros, so we are finding that places like tulsa oklahoma and the topeka kansas, chattanooga, tennessee and southwest michigan these are places that are great places to live and maybe haven't been able to attract workers simply because industries in their, but remote workers are completely mobile now and can live and work wherever they went into some places that the amenities offer a more comfortable way of life.
neil: very interesting. evan, thank you. we would love to have you back to see how this is going, but clear beneficiary with the trend that had come out of the pandemic and some things we have learned from the pandemic. one thing we learned is consensus that was building that kids would take a gap year whatever, maybe two years. that by implies to everyone but the top colleges and universities where applications have been soaring to records and acceptant rates are the lowest they have ever been. ♪♪ ♪♪
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can be stressful enough already but this year's applicants felt more pressure. john david gorman is a high school senior from bethesda maryland. >> didn't shape up to be like the normal here where it's like a man, you get accepted and then you go to admitted students day and then you like do all these things and you visit the campus. now, it's like you get accepted to many colleges had contest optional allowing them to forgo act or sat resulting in a surge of applications and even the most selected schools and newly released data from the application organization shows applications were up to 11% from last year reaching over 6 million. admission officials say is still too early to tell how much the surge will reshape the demographics, but the founder of college shortcuts thinks the test optional movement has opened the doors. >> absolutely change the
playing field. it's been stated clearly that these tests actually skew towards more of the higher income families that score higher on the test, so to me it's equalizing and the data shows it. reporter: another potential reason for the surge's optimism that students can return to campus, return to on-campus learning and to make that more feasible there are many colleges and universities, a growing number that will require students have cobranded vaccines. neil. neil: quite a few are doing just that. molly, thank you. i went to go to cory d'angelo's, the regional foundation director for school choice. you may say why go to this right individual, well because our kids in school this past year doing virtually, having all sorts of problems and a lot of them are facing some consequences of either being the left back or delayed, it's been a
nightmare. cory, good to have you. explain what's happening . >> thank you for having me. i will say that remote learning has been associated with significant learning losses for students. they have a lost ground academically, medically, physically with labor market effects keeping schools closed and what i would say is that covid didn't break the public school system. in a lot of ways it was already broken. the past year simply shined a spotlight on the main problem with k-12 education in america, which happens to be a long existing massive power imbalance between the public school teachers union and individual families. it's one thing for school to continue to get your children's education dollars regardless of how well they do and regardless of your choice in the matter, it's another conversation altogether for those same buildings to get your children's education dollars whether they even open their doors for business . neil: i'm just wondering if virtual classes are challenging as the in person
classes. i have a son who is a senior in high school and another when a freshman in college and they can both attest to the fact that it's different and with so many now dispensing with pass and all the rest, i'm wondering if we are hurting their future. in other words, next year when you would assume things will quiet back to normal. what you think? >> it could go either way when it comes to the difficulty of the online learning classes and it may work for some students appear there or failing grades in particular school districts including fairfax county, saw an uptick in 83% increase in failing grades of the students failing to or more classes from the previous year with larger declines for students in fairfax county. really depends on the student, but i think the silver lining is a lot of families see all this nonsense going on in the public school system, in los angeles for example they are
doing this zoom in a room where kids are going into classes in a some cases and most kids don't have the option of full-time in person instruction california, but when they do they are doing a zoom in a room where teachers are staying at home, childcare workers come into the same school building and the students are doing a zoom from another classroom, which doesn't make a lot of sense so families are seeking alternatives and there are states with bills introduced to fund students as opposed to systems. over 30 states have these bills in place or in play right now and families if you look at the latest nationwide survey on this, they are starting to figure out there's no good reason to find closed institutions when you can find a child directly instead and the latest clear opinion research pulling finds that 71% of the general public supports school choice , a seven percentage point uptick from last year. neil: i'm just wondering when we set at the outset the number of kids who eat of the school recommend we have to
hold your child back or they will go the other way and be super lenient and say during the pandemic and everything else she didn't learn anything, but we will advance you care i don't know what the better answer is, but what is happening in general? >> depends on the particular school district, but they could be passing students through and they may not be ready for the next year academically. since it depends on the individual school district, i think the best solution is to let people vote with their feet for the best school district or public or private or charter school or maybe even homeschooling option if it works best for them they should be able to do so, but the best way to allow more families to have meaningful options for these alternatives is to have the money followed the child. neil: do you think every kid in this country we'll be back in the fall for in person classes? >> the entire country, doesn't seemed like it if you look at how things are going
in california, for example. seems like the conversation keeps moving down the road every step of the way. that's troublesome for so many families and really though, it's really about what the least advantage should have, should they have access to in person or not because the most advantage already accesses alternatives. when school started to close, they were seeking out pandemic pods and micro- schools or instruction families with-- more advantaged families are likely able to cover the cost of private school tuition and these which are more likely to be in person since the start of the pandemic and much before public schools started to reopen for business, the least advantage are the ones stuck without the option for in person instruction and this is still what the discussion is about today. in a way, the whole reopening debate is been a lot more to do with politics and power dynamics than a safety and the needs of millions of families particularly the least advantaged. neil: i would have never seen a year ago cory, we ended the
year where most kids are doing school virtually and a good number are looking at doing the same next fall. it's incredible. cory d'angelo, thank you. i appreciate it. >> thank you. neil: in the meantime, a couple developments we are following. about the 100 a bark for the biden administration with a lot of people saying it's been done that covid relief plan and you are the bird on something for infrastructure, but one thing that's very clear early on, 100 days in is he is not the moderates some thought he would be. he's every bit the progressive some feared. ♪♪ ♪♪
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neil: the confusion over the old capital gains thing, if you are going to than double that to operate and bring along with the top income rate itself to be increased and then add to that with the already planned increase that a lot of wealthy people have seen with the 3.8% surtax they are getting, the wealthy are given to pay for obamacare, then why are the markets apparently okay or not fretting nearly as much as they were yesterday? axioms reported that's been digging into this. almost 100 days and i guess next thursday is technically that day. i think will i-- if the markets see this as a reality, either they don't mind or they don't see it as a reality. what you think? >> probably more the latter,
i mean, we look at the notes sent out from banks like goldman sachs last night and they were basically pricing down that number , so let's just kinda walk through what happened. yesterday bluebird really down a number and said this is what will be in and they said 43-point 4% capital gain, big increase up from 20% to the top right now and the dow jones i believe drop 300-point zero range, didn't check what the s&p did, but then there were these wasp d notes and we try to capture some this in reporting their in the white house there is not necessarily confusion, but they have been telegraphing that it would be 43.4% for 18 months. this is how he initially laid out his plans with all the nonpartisan scoring organizations, the tax foundations, they all said it would be 43.4 and that's what biden looks like he will ultimately put out, so why
the initial sort of shock to the market and then now a more mild approach, if i knew that i probably wouldn't be in my room and says that and probably be on a private plane to bermuda right now and i say that halfway seriously. how markets react to this news always surprises me because a lot of times the markets go after the headline number where sort of chew on it a little bit and it seems as though the headline number one be a reality, if that answers your question. neil: it does appear one thing i'm confused about is this brings us a supposedly closer to what the administration has described of the rich paying their fair share now. of course, you could argue when we looked at the top rate up to 39.6% they were paying their share in other states piled on with the surtax for the wealthy. you could keep making the argument that the higher you
go that we are at about a fair share. does anyone know or know of your great reporting, has anyone told you are shared with you what a figure might be for a fair share for the wealthy to pay? >> now, and i would suggest it's a subjective and probably a matter of huge debate within the democratic party. i would suspect certain members of the squad or certain members mark progressive would like to see it go higher. back to the 60s and 70s traditionally and i mean traditionally a long time ago. you're driving to something i think is important and that is they are really two ideas animating the white house thinking. one, philosophical where you just mentioned like fairness and the rich should pay more in the other is actually paying for their programs and that's where we are about to have an interesting debate on where can you get the most money out of capital gains because it may not be all the way 43%, it may be closer to the mid- 30s.
neil: so, i've been looking at various proposals and the 370 billion over 10 years from my capital gains hike or couple hundred million from returning the top rate to what it was 39.6% or the surtax and with all the plans going out there including infrastructure, you are covering about a third of all of this, so it will only go so far or have they given up truly paying for it, how would you describe the claimant i would say you are using the same time horizons. they use longer ones, so yes, you are correct over 10 years you can get to a third or half of a trillion. there may be other things they put out there, 200 billion on the sort of changes per state tax you can see how they get north of 500 billion. what they did with corporate is say well, now, we will just toss it out over 15 years so they can only shift
the timeline for what they think the revenue raiser will do and even though the programs they are talking about say 10 year program or in the case of infrastructure eight-year programs, they just say we will pay for it longer so, i mean, it's like a mortgage, just the longer you pay the less it is per year and again that is-- neil: and also talk about the fact that it will spark economic activity and get more revenue. regardless, what is the likelihood of this coming to pass? forget about infrastructure and even about what they want to do with the recovery, a lot of money and a lot of big goals here and already they are facing resistance from moderate democrats and those democrats in states where they want the salt thing overturned. or forget about getting republicans. they could have trouble getting democrats, couldn't they put mike yeah, saw probability-- i would say on
the corporate side, it's a very complicated discussion and it will be even further complicated by as you mentioned salt. of the complications they are are harder on the house side than the senate. you can see how they get to 25% rate on corporate . where the capital gains comes down especially as it relates to the estate tax and centers like tester who have a lot of family ranges, family farms in montana, you have a lot of different dynamics. i would not hazard a guess on where capital gains come down. i think let's model analyst then i are saying is out of 43.4%, but where it is up in the 30s i wouldn't hazard to guess and i think that senators and house members need to talk to constituents. the time horizon for this, the timeline, you are sort of looking at a end of summer negotiations so there will be a lot of conversations and a
lot of money spent. there will be big campaigns, 25 million on a corporate tax so this is the start of the conversation went thing to clear about the white house and the way they view it, they think of it as an opening bid, so it kinda gets back to what you're talking about unfairness in some ways they are signaling their fizzle-- philosophical groundings on where they want to go with taxes. what the final number looks like we'll be up to politics and simply where you can find the most revenue. neil: got it. very good to see you. in the meantime, there are other corporate worries including what's happening with this chip shortage and when you know my butt-- buddy jack otter is a special guest with the chairman of intel on what could be happening next on that front. >> our estimates are is probably two years for the industry to work through it
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texas department of public safety boats. there are a couple of them. these boats go on grueling 10-- 12 to 15 hour long tumors on rio grande river just looking for migrants crossing over the river. just an hour ago i went to show you this as we are in the sky with texas state troopers and we spotted a suspected cartel scout on the mexican side. troopers are helping border patrol out under the governor's directive alerting them to any migrant activity down below but because there has been so much activity recently, it's taking border patrol longer than usual to respond and we are also learning that just in the last five weeks texas department of public safety, which is primarily focusing on the cartels here, they arrested 631 people in five weeks, nearly 4000 pounds of marijuana and it detained at 24000 smuggled migrants, 7000 of them are minors.
white house press secretary janice zaki accusing republicans abusing the border crisis as a political football. >> this is an issue that some supporters of the former president and some republicans in congress are licking their chops about how to make children a political issue and we don't see it that way. reporter: neil, the folks on the ground come the state troopers tell me there's always a presence on the river, up in the air and they have about two or three choppers in the air at any given time, but because it's so busy for them, really if they are being honest could use three more choppers. neil: to thank you very, very much. get home safe, in mission texas. in the meantime we are keeping track of the great reopening going on in this country, but also in other countries. other countries where they want american tourists and they are doing everything to
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neil: welcome back to coast-to-coast, i'm edward lawrence in washington pick this is among the first residential properties in the nation to use technology built into the building to claim that air. we have seen it used in hospitals and also on airplanes, but this is the first words-- here's one of the units. it sucks the air in that side , uv light hits the ark killing viruses and fungus in the air and then flashes it out the other side as clean air and it does that every .7 seconds. this is riverpoint, apartment complex in washington d.c. that's just open and the owner put these boxes in all the common areas like the gym, the roof space, and a lobby area. doctor linda lee who is the chief science officer for ub angel that makes these boxes test them about once every
month she comes in with the baseline beforehand of what they are wise and then they test afterwards and she says the air is cleaner and they anticipate that clean cleanliness to continue throughout she says it kills the coronavirus as well as other bad stuff that's in the air appeared back to you. neil: thank you, my friend. edward lawrence a lot of people in west virginia where grady trimble is, this time we are talking about exceptionally low vaccination rates going on there. he's in huntington, west virginia. what's happening? reporter: the vaccine hesitancy comes as the cdc advisory committee is meeting to discuss the fate of the johnson & johnson vaccine. no decision yet to. we will keep you posted on that, but here are not necessarily this particular location, but across the state of west virginia and in many states across the country they are dealing with another issue which is hesitancy. they have too much supply of
the vaccine at this point, something we could not of imagined about ago that they have the vaccine and they just don't have arms to put it into. in huntington, i talked to a gentleman who's doing outreach on his own. he actually brought a member of his church congregation to get there vaccine today and he said he would be happy to get any of them as he had including the j&j's shot. >> 7 million people have gotten the shot, the one that the one person was ill, someone out of a million who got ill, so that's pretty good odds are your odds of getting in a car wreck are greater. reporter: and the health department and its counting as well of health the permits across the state of west virginia are reaching out to communities that are or skeptical of the vaccine and they are doing psa's to educate people about its efficacy and the positives that we can glean from the vaccine. in the governor has sent as soon as 70% get their first
dose of the vaccine, and that's when he will remove the indoor mask mandate, which is something a lot of the people here are looking forward to a. neil: grady, thank you. grady trimble in huntington, west virginia. i want to go to liz peake and danielle-- daniel. we were talking earlier about the market and was propelling it and i suspect progress on the vaccination front was accepted as a given and it still robust, west virginia and some other cases notwithstanding, but the average did dip below 3 million such vaccinations and i'm beginning to wonder if we should worry, does this call into question either axing fatigue, concern, doubt, what? >> well, i think the whole thing of the j&j vaccine was an incredibly damaging thing to do by the cdc. as you are person in the
interview just said, it was a one in a million chance that something could go wrong, but it stoked all the fears and rumors about something backfiring. i think it's really unfortunate particularly because that vaccine since it doesn't require the enormous refrigeration of the other two, the moderna and the pfizer vaccine was being used for shut-ins, people who can't get out of their home particularly seniors and that's a really tragic outcome. i hope they'll return that so-called deposit like immediately and get this number going up again. neil: the word is they might do just that when the committee is done meeting, so maybe later tonight we will get word of that. daniel, in the meantime the great reopening is staggered and stumbling depending on what country you are in and a disaster if it's brazil and india but we are getting word out of greece that american travelers are going to be
welcomed as they are lifting their quarantine requirements. we are beginning to see other countries trying to do the same to entice americans to go there. at the cdc separately has recommendations, but to liz point that might stymie that as they are not keen on foreign travel and they are barely keen domestic travel. what you make of all this? >> well, you can't blame the other countries. i have friends who worked at a multinational in spain and their children went through elementary school and middle school in spain and they had plans to go back for the summer and see their friends and get reacquainted and those entire plans have been shelved and put away. that affects where the american family will be, what they will do for the summer, but it's a huge hit when you consider exponentially how may people are making these plans in terms of the economic output of spain and italy and other summer destinations for americans are not going to get to say
nothing of other countries throughout the world that are putting up barriers again to travel and this is really going to stymie, not just economic growth for those countries, but we are a globalized economy . we depend on cross-border travel here as well, so it takes away from us as well. i think the vaccination campaign needs to be something that global leaders need to come together on and say it's going to be to the benefit of the entire world if we can coordinate this effort. there's clearly enough vaccines to go around and production the past ect. and in the u.s. alone we have shown you can get these vaccinations out there. there is just a matter of how to get it done and to make sure there is no poison in the campaign. neil: all right, ladies, thank you both very much. great help today on a number of big issues. dow jones down about 220 points and we are showing pictures out of alaska, looks
like alaska. there's a lawsuit against the cdc that they are going too far in the limitations as a lot of cruise operators are told you are not welcome to get back out to sea and with all the allowances they have made to do so. in the case of norwegian cruise line, so far they will go out of foreign destinations. ♪♪ ♪♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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♪ neil: all right, a lot of countries want american tours, canada's been banning flights from india and pakistan and for the better part of caution has said you're not welcome here for at least 30 days. the dow up 221 points. here's my buddy, charles charles payne. ing. charles: good afternoon, everyone, i'm charles payne, and this is "making money." the market is bouncing back, but investors are still rattled, and it's not just because of a tidal wave of taxes. we're talking about strong earningses that continue to come in really nicely, even beating the most optimistic expectations. speaking of which, one of the biggest beats coming from noun other than mattel. the toymaker is driven by renewed interest in physical toys and adventures on the big screen. the ceo is joining me live to explain why nostalgia is also helping drive new