tv Mornings With Maria Bartiromo FOX Business April 27, 2021 6:00am-9:00am EDT
by the way, i did not say biden was in favor of only plant -based food i f was citing a michigan survey. so come get new glasses mr. schumer and folks it is plant -based. it is brussels sprouts on the maria: good ties morning, everyone. thanks so much for joining us. i'm maria bartiromo. is tuesday, april 27. your top stories right now, 6:0e east coast. vice president kamala harris' role addressing the border crisis is not about the border, the white house is doubling down this morning, announcing a plan to send more than $300 million to central america to get people to stop coming. be sure to tune in tomorrow morning, we have exclusive coverage. i will be live from the border in mccowen, texas, getting a firsthand look at the growing crisis. we will come to you live tomorrow and thursday. hope you'll join us.
markets look like this. take a look at futures, indicating a decline for the dow. the nasdaq is higher by 4 and a quarter, s&p 500 lower by a fraction. earnings season rolls on this morning, microsoft and google among the big names reporting quarterly numbers today. this after the s&p 500 and the nasdaq closed in record territory yesterday. the dow industrials were down 61, nasdaq was up 121 yesterday, that was two thirds of a percent, the s&p 500 higher by 7 and-a-half. we begin this morning in unchartered territory. let's check global markets. european markets are lower, financials weighing on sentiment after ubs reported additional losses from the archigos collapse. they lost $774 million following the meltdown. the cac is down 12, the dax lower by 85. in asia overnight, markets finished like this, take a look at the averages overnight in asia. it was pretty much flat showings
across the board. "mornings with maria" is live right now. ♪ maria: now some of the top stores rise we are watching this morning. a disturbing new trend at the border, parents in a migrant camp are urging teenage sons to scale the wall and get access to the united states. the number of unaccompanied minors at the border hitting record numbers. 172,000 were at the border in march. vice president kamala harris today will meet virtually with representatives from community organizations in guatemala. she met yesterday with the president of guatemala. she says she is promising to send more aid there's as well as personnel from the department of
homeland security. the white house reiterates that her role is not to deal directly with the crisis but to address the root causes of the crisis. new details on president biden's plan to raise taxes. the capital gains tax increase will be for americans earning at least $1 million. the capital gains tax rate will rise to 39.6% and when you add in the existing obamacare federal surtax, the rate is actually 43.4%. this will likely begin in 2022. president biden expected to leave subscription drug price reform out of his $1.8 trillion in the upcoming spending package. the package is expected to include racing the top income -- raising the top income tax. the president is set to present the proposal before congress this week on wednesday night. the biden administration is expected to relax outdoor mask guidance as soon as today, this after the nation's top
infectious disease expert, dr. anthony fauci, said that the risk for outdoor transmission is really low. he said that now. meanwhile, the u.s. is planning to send up to 60 million doses of the astrazeneca vaccine to other nations over the next several months. the fda has not yet authorized it for use in the united states. markets this morning are mixed. alphabet and microsoft set to report first quarter earnings after the bell tonight. dow industrials down 38. the stocks are higher. tesla reported record sales last night. the stock is taking a hit, down two and three quarters percent. joining me now is chief investment strategist shaw gilani. joining the conversation all morning long is fox business' dagen mcdowell and it's great to see you, shaw. thank you for joining us l. getting your take on this market. your thoughts on higher tax rates coming and the impact on the economy and the market. >> good morning, maria. thanks for having me on.
i think higher taxes will be -- have a dampening effect on the market. the enthusiasm for equities is underlied by the fact that taxes are low. now i think with that changing, i think investors are going to probably take some profits. i don't know if it's going to be dramatic. in the final analysis, i don't think the democrats are going to get the tax rate up as high as they expect it to. i think we'll have a compromise somewhere considerably lower and hopefully the markets will digest that and continue to move higher. maria: what about the regulatory environment? do you think any of these new policies are going to put a damper on what has been an economy that seems to be in recovery right now. we're talking about expectations of growth of up to 9% for 2021. >> i think that is what the market is worried about most. that's what i'm mostly worried about is some regulatory over
zealous push which will knock down the tech industry. i don't see that yet. but we know it's out there because in terms of biden's platform in the past, he has spoken of regulation. the democrats have wanted greater regulation across the board on tech companies and the tech companies let's not forget have led the markets higher since 2009. i think anything that impacts their potential earnings and net profits is going to be a problem for the market as a whole. maria: well, we see that president biden is going to be raising the minimum wage to $15 for federal contractors. we've got new details emerging in the administration's plan to increase capital gains taxes. this plan is expected to affect individuals earning $1 million or more as well as couples filing jointly that earn that same amount. the president is set to unveil his social spending plan tomorrow which is -- he says it's going to be paid for by these higher taxes. shaw, tell me about a market
reaction. you say longer term the market will be fine but if you're talking about a capital gains tax of 20% this year and a capital gains tax of 43.4% next year will we not see a selloff where people will sell their winnings this year as opposed to waiting for that higher capital gains tax next year? >> yes, that is the expectation, certainly one that i have. i can't imagine as an investor not wanting to take profits and a lower tax rate and waiting next year to be taxed doubly as high. there are a lot of profits on the table across the board and let's not forget if the market gets hit, it's not just the wealthy that gets hit, the entire country gets hit with investors with ira and pension plans. retirement accounts hold a lot of equities. they'll get hit across the board. i'm concerned about that. let's hope we don't see the highest rates, assume some
compromise. it looks to me to be 28%. i think that would be far more digestable than the higher rates. maria: well, the 28% is likely for the corporate rate but i'm talking about capital gains taxes and he's pretty set on this capital gains tax, double, that we're seeing -- double plus. we're talking 43.4%. we'll wait for the details. we'll hear from the president tomorrow night, wednesday night, for his joint session to congress. the federal reserve also in focus this morning. the central bank kicking off the april fomc meeting today. we have a two day meeting ahead of us. the chairman set to deliver commentary tomorrow afternoon. they signal that interest rates will likely remain in place for the near term, shaw. we're talking about record low rates. is this the boost that keeps things going for the stock market, given it presents no real alternatives for any yield when you're talking about rates where they are. >> it has absolutely been the
boost the market has enjoyed for quite some time. and i think that is one of the largest worries that an investor has. if there's a policy change that determines rates need to go higher and you talked about $15 federal minimum wage, i think if we start to see rising minimum wage across the country we're going to start to see increased impact of inflation. we're going to see that in the commodity sector. we're going to see it in food sector i think certainly in the second quarter and i think that's going to put pressure on the fed to perhaps start to raise rates sooner than they expect to or want to and again, that's probably the number one thing worrying investors. maria: all right, shaw, great to see you this morning. thank you so much. shaw, we'll check in soon. thanks for being here. >> thank you. maria: thank you so much. we're just getting started this morning. coming up, former secretary of state john kerry accused of telling iran about israeli
military operations. wait until you see how they found out what was going on in israel and why this information was passed on to iran. retired general jack keane will weigh in. calls to uncancel america, next hour georgia gop senate candidate kevin king will join me to explain his position heading into 2022. in the 8:00 a.m. hour, texas congressman brian babein will share his take on the border crisis. plus, americans for tax reform president grover norquist will join us to explain what we can expect from president biden and his proposed tax increases. don't miss a moment of it. you're watching "mornings with maria" live on fox business. ♪
maria: welcome back. aiding northern triangle countries, vice president kamala harris announced an additional $310 million in aid going to guatemala, honduras and el salvador in an effort to address the border surge, she says. the package includes money to deal with environmental issues, health and education, and boosting the agriculture industry to encourage the population to remain in their country. joining me right now is texas public policy foundation ceo, kevin roberts. kevin, great to have you this morning. thanks very much for being here. look, i don't get this. they're breaking the law by coming to this p country illegally and pushing their way in and we're sending money to the central triangle countries to ask them to stop? >> it makes no sense, maria. in fact, i wish president biden and vice president harris would do what you and i and i'm sure all of your viewers do which is
apply common sense to this problem. certainly those of us you in texas know this problem firsthand. it's only going to get worse. i wish i could be more optimistic. let me sum up by saying biden and harris are doing the exact opposite thing they need to be doing. for example, as you mentioned, spending money on these countries. maria: and this ultimately is one of the reasons that americans taxes are going up because taxpayers are paying for this. kevin, you cosigned a letter to president biden along with several current and former border officials with recommendations to address border security. let's go through the recommendations. among them, completing the border wall, cracking down on asylum claims, ending catch and release, and closing the loophole, treating minors from non-bordering countries differently than those from mexico and canada. kevin, these are all things that were in place when president trump was in office. joe biden came in, the first week, and immediately overturned all of these things. and that's why we saw the surge.
when you are talking about root causes, the root causes is the policies of this administration. everybody knows that. do you expect to hear back from the administration? >> unfortunately, no. and that's a huge problem, maria, as you know, because this is a humanitarian crisis. we had 172,000 illegal immigrants cross the border in march alone. the number will be higher in april. it will be higher still in may. it will be higher still in june. we're expecting perhaps as many as 2 million illegal immigrants in texas alone by the end of the summer. you would think given the data, the research that went into writing the letter, that biden and harris would put politics aside and instead focus on the reality and they're not going to do it. i mean, i think the best example is that vice president harris hasn't even visited the border even though the leader of the free world appointed her head of the task force for border security.
yesterday as you know she was blaming covid as the reason she couldn't visit the border. that gives me very little optimism that they're going to respond but i do believe that if we put enough pressure on them, that eventually they're going to change course because they will have no option but to finish the border wall and begin to address this problem. maria: but kevin, why? what do you think is behind this unwillingness to face the truth? i mean, look, we've got 172,000 illegals at our border in the month of march. 100,000 in the month of february. you say these numbers are only going to get worse. there are national security issues. it's not just illegals. it's covid. a couple people were found, they were on the terror list. when you put the national security issues aside, you've also got issues for the american people, they're taking people's jobs, draining the system of resources. it's obvious to anyone who looks
at this situation. what is the reason behind this unwillingness to face the truth and do something about it? it can't just be that i hate trump and i want to overturn trump's laws, right? it's got be bigger than that. >> it is bigger than that. and look, you know in texas we like to speak plainly. it's two reasons. it's incompetence and it's politics. it's incompetence, evidenced by the fact that congress has appropriated more than $5 billion that the biden administration has not spent on completing the border wall. we have for example, maria, 270,000 tons of steel wall ballards that have been manufactured that are sitting in a storage facility for which the american taxpayers are paying rent that is not being used on completing the wall. secondly, if you think about the fact as i mentioned that the vice president hasn't even been to the border, it's obvious they don't recognize the scale of the problem. let me be clear about something. this is also politics. this isn't merely about
overturning what trump has done. it's about turning texas purple an eventually blue. obviously, we're in the news this week about redistricting. this is a related issue. what the left is trying to do is flip texas so that they they can maintain their stranglehold on power in this country. it is crucial, i would even argue that it's existential that this country lead the way in the rule of law in securing the southern border. otherwise, all of the freedoms we hold dear as a result of honoring the rule of law will really be tested in the coming years. maria: i'm really glad you mentioned this redistricting going on, kevin. new york is going to lose one seat in the house of representatives next year based on population data released by the census and that was 89 residents short of keeping all of its seats. what's the situation in terms of redistricting in texas? >> well, people want to move here, maria, because this really is where we live out the
american dream, more profoundly than anyone else and as a result we're gaining two congressional seats. we were expecting that we might gain a third. i think we were 190,000 people short of that, probably within the next few weeks we'll gain those. the point is, if you take the step back from specific states there's a very clear trend in the united states. people are moving away from blue states with high taxation, overregulation, places where the governors shut down the economy far too much. california's losing a seat for the first time since 1850. florida, texas, the sun belt, places with great opportunity are gaining seats and i think that ought to make us optimistic about the future of this country. maria: yeah. but one thing that really makes me have pause is what you said a moment ago in terms of the overall plan here in terms of not recognizing the crisis at the border is all political so that you can get more voters to vote democrat. i mean, this is just highly
corrupt, frankly. kevin, it's good to have you this morning. we'll keep spotlighting this important issue. thanks for being here. >> thanks for having me, maria. maria: we appreciate it. be sure to tune in tomorrow morning. i'll be coming to you live in mcallen texas. we'll be there all week. we hope of you'll join us for the special coverage live from the border for the rest of the week. coming up, no book deals with trump add p medicine strayings authors -- administration authors coming in, the demands coming from simon and shuster employees and why the new york times is dropping a term from pages, that's making a buzz this morning. stay with us.t a record 1.1 trillion transistors into this chip whoo! yeah! oh, hi i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100
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formally submitting a petition against publishing any work by former trump administration officials. this coming after the publisher received employee pushback over plans to move forward with former vice president mike pence's memoir. employees claiming the former vp was advocating racist, sexist and discriminatory policies. sure vest ceo rob luna joining us this morning. first let's go to dagen. your reaction, dagen. dagen: why would you get into the publishing business if you didn't believe in the freedom of speech? if you didn't believe in representing a diverseity, a broad array of voices? this is just absolutely ludicrous and the fact that the head of simon & schuster has to stand up and basically defend free speech is kind of how upside down this world is in terms of this is what counts for courage and bravery in this
world. maybe these individuals who are upset about this ought to find another career. maria: you know, it's pretty incredible. i mean, you also saw this kind of pushback from google. remember, dagen? i mean, when google employees complained that google was working with the trump administration on a.i., so they forced the management to walk away from project m a aven. meanwhile, they they were fine operating in communist china but they walk away from the administration and using its a.i. products. i don't know. the fact that these employees are making this stink over this and then management listens to it. rob luna, your thoughts here? by the way, i did have a book published by simon & schuster last year, the cost, trump, china and american revival. the book continues to do well and hits on all of the issues we talk about every day, in particular china and policy that the trump administration was
implementing. that was last year. rob, your thoughts on this year where simon & schuster employees are telling management we don't want to publish anything out of the trump administration. >> well, thank god that was last year. who knows what's going to be next year. i read that book. it's a great book. like dagen said, i mean, when do they they become the moral authority on who is going to write what. it was only i guess 14% thankfully of the workforce that was behind this. let's remember also simon & schuster's is owned by viacom, a publicly traded company. shareholders have interest in these decisions. it's spreading to companies like google. at the end of the day, maria, this is really just part of a larger issue of this cancel culture that i think is going a little bit too far in almost every aspect of our lives now that it's put ceos like that of simon & schuster in a position to have to defend.
like dagen said, it's free press, the ability for any author of any race, any political affiliation, to be able to share his views. i think that's what media and press is really supposed to be about. maria: unbelievable. i mean, the dominance of big tech and publishing to actually, like you said, dagen, not have free speech and diversity of conversation. also, similar conversation we've been having about universities over the last couple years ago well. just an incredible story. we'll take a break. a lot coming up this morning, form earn secretary of state john kerry is being accused of telling secrets about israel to iran, telling iran about israeli military operations. it's just extraordinary. bordering on treason. retired general jack keane is here to weigh in. plus lyft sells itself-driving business, more on the deal
maria: welcome back. good tuesday morning, everybody. thanks so much for joining us, i'm maria bartiromo. it is tuesday, april 27th. take a look at markets this half hour, where we are looking at a fractional move this morning. we've got a two-day fed meeting coming up. dow industrials up 4 points, nasdaq up 11, s&p 500 higher by two and a quarter. earnings season rolls on this morning. we've got microsoft and google among the big names reporting later today after the close. both stocks are trading up this morning ahead of the numbers, this after the s&p 500 and nasdaq closed in record terry yesterday. we start in unchartered territory this morning. the dow was down 61 yesterday, the nasdaq is beginning this traiting session at 14,000, 138. the s&p had a 7 and-a-half point move yesterday. let's check global markets this morning. it's a quiet session ahead of the two-day meeting of the federal reserve, ft 100 down 10, cac is down 9, dax lower by 52.
in asia overnight, markets finished like this. fractional moves here as well. pretty much across the board. meanwhile, we want to talk about the latest story around foreign policy and that is john kerry is under fire. special climate envoy kerry denying allegations this morning that he informed the iranian foreign minister of covert israeli military operations while serving as president obama's secretary of state. in leaked audiotapes, iranian foreign minister said that kerry shockingly informed him that israel attacked iranian targets in syria over 200 times. kerry is facing calls to resign from his position as president biden's climate czar. joining me now is retired four star general, strategic analyst general jack keane. it's great to see you this morning. thank you he very much for
joining us particularly on this very troubling story. first of all, i would love to know how you see this, whether or not john kerry picked this information up because we were spying on israel to begin with. we get this information from israel and he passes it on to iran? >> well, first of all, this is an allegation. we don't know what the actual truth is. we do know the foreign minister in doing his oral history on the administration he's serving makes a number of stunning revelations and certainly this is one of them. president are we really sur -- but are we really surprised here? this is the same john kerry who during the trump administration when he was out of office was cozying up to the iranians during that time and undermining u.s. policy. in other words, he was telling the iranians-this is what we got from the department of state and
the secretary of state, that this was actually happening. he was telling the iranians to-not to follow -- go along with the trump administration, wait it out and a new administration, obviously a democratic one, would come in and be more friendlier to you. that was completely unprecedented. we have never had anybody doing anything like that in terms of undermining foreign policy. disagreeing with foreign policy to be sure but undermining it with a foreign power that's something else again. so i don't think we're surprised. we don't know truly what the facts are. but we just can't be surprised by what is happening and certainly it's worthy of an investigation to take a look and see what really did take place here. maria: yeah. we're waiting for more information. what we know right now is that there are new leaked audiotapes and the audio appears to reveal that kerry and of course we know that kerry along with many others from the obama administration are now on biden's foreign policy team, he
is the special climate envoy. he divulged the details of 200 200israeli military operations taken against military targets in the last several years. he's always been obviously cozying up as you say to the iranians. if this is confirmed, what an incredible disgrace. if this is confirmed, should he step down, in your view? >> well, i think it was confirmed. there would be no doubt about it, he would be asked to step down. i don't see how the administration could have anybody serving them in any capacity whatsoever who committed such an egregious violation. what happened here with the leaking of the tapes is they're also trying to discredit the foreign minister zarif who has a heavy hand in the negotiations that the iranians are doing and these are the hard-liners and he
is considered to be a moderate. the hard-liners don't want to give an inch to the united states apartment our allies over the return to the nuclear deal and believe me, we all have a lot of concern in terms of the direction these negotiations are taking as the united states is about to lift sanctions on iran in return for iran's full compliance with the deal. if they lift all the sanctions and don't try to improve the deal, we squandered a significant strategic opportunity here and i think it will be considered a significant failure if that does occur. maria: you know, you've got to explain how it is that the u.s. is now back considering getting back into this iranian nuclear, all the while u.s. and iranian war ships having a tense encounter in the persian gulf earlier this morning. a group of ships demanded by iran's revolutionary guard
swarmed two different u.s. coast guard ships on patrol in the persian gulf, cutting in front of them, forcing the ships to make abrupt stops to avoid possible collisionses. the encounters would be the first incident between the two nations in over a year, general. this as joe biden is negotiating and trying to get us back into the iran deal. by the way, we should point out there was a meeting on this a week and-a-half ago. the u.s. wasn't invited. it was china, russia, iran, talking about the iran deal. what's your take on this near collision in the persian gulf? >> this is, as you said, it's done by the revolutionary guards and they work for the supreme leader. they're not a part of the normal military org. of any -- organization. what i think has taken place is a couple things. first of all, this used to be a pattern of behavior in the past. it was done mostly because it gets a lot of press, it's done mostly for our allies in the region where iran is demonstrating to them, it, we're
the major power in the middle east. the united states is a foreign interventionist. look at us, we can intimidate and harass the united states at will here. our allies don't buy into it. they don't see the united states as being weakened as a result of this. they know who the real maritime power is in the persian gulf to be sure. but why now? i think also here -- revolutionary guard, very hard-liners in iran, election coming up in june. i think this is being done to put more pressure on the iranian negotiators to make certain that they the take a very hard-line stand dealing with the united states, much as they did back in 2015. they want to see a replay of that where the united states comes out of this deal having given up all of the sanctions of iran and losing all the leverage that we had. the momentum in the middle east has turned against the iranians and that is what is really
regrettable and unfortunate, the biden administration doesn't use all that leverage that exists in the middle east as a result of the abraham accords, the normalization with israel. why are those arab countries normalizing relations with israel? because of the threat of iran. this is the beginning of a formation of an arab nato. that's what's at stake here. there's huge leverage against the iranians and we should use it to our advantage to protect our allies in the middle east. maria: so do you worry that the abraham accords, those five countries that have said yes, we will normalize relations with israel, as a result of the united states, mike pompeo doing this negotiating over the last several years, are those abraham accords in jeopardy if the u.s. gets back into the iran deal? >> it's going to put huge pressure on it for sure. the arabs came together with israel as a result of the
invitation of the united states to just do that. the united states in the name of president trump in july of 2017 told the arab states that he would stand against them dealing with the strategic threat of iran. that kind of strength now that our allies are looking at the negotiations and believe me, none of the arab states or israelis agree with the negotiation t's that are going on because they believe the united states will give up the farm, so-to-speak, will give up all of these sanctions and have nothing in return. was what we want in return is to curb the behavior in the he region. that's what they would say number one, stop their problems hey wars and -- proxy wars and certainly prohibit the development and production of ballistic missiles and any time, anywhere with inspections to be sure. improvement can be made here. whether the united states has the mental toughness to do that remains to be seen and that's the concern our allies in the region have, maria. maria: i could imagine.
we're still trying to -- quickly on china, we are still trying to get allies to better understand the china threat. but i haven't seen any tough policy against china either. what is going on with the current foreign policy? we are cozying up to our adversaries, like iran, and china. >> ic the biden add -- i think the biden administration have done much better dealing with china. they have taken a stand. they have met with our allys in the region to deal with china, to make certain that we're united in pushing back on china. the first foreign president that biden met with was the president of japan, certainly prime minister of japan, excuse me, and he got an earful about china. the secretary of state have been out in the region doing much the same thing. i think they're moving in china.
they got the message. a lot has changed in four years since dealing with china. we still have to see if they have the toughness to confront china, when china's aggression starts to spill over more than what currently is, it will happen, dealing with taiwan and the south china sea. that he remains to be seen. right now, the rhetoric and policy is good. we'll see if the toughness is there. maria: step one might be to try to put their feet to the fire on the coronavirus and bring up the issue, where did the coronavirus originate, xi jinping. that subject apparently has not come up. peter doocy asked joe biden the question a couple weeks ago, he said no, no, no, that hasn't come up. go figure. general, it's good to see you this morning. thanks very much. great conversation. >> great talking to you, maria. maria: we'll catch up soon coming up, the state of real estate, more people buying second homes as a result of the pandemic. how out-of-towners are driving locals outs of some of the
cities. plus, a redesign for the new york times. why the newspaper is dropping a term from its pages, it's making a buzz this morning. we'll tell you about it when we come back. you're watching "mornings with maria," live on fox business. dignity. it demands a rapid covid test, because we all deserve an answer. it demands your heart stays connected to your doctor, so you know it's beating as it should. and a rapid test to help evaluate concussion, in case something were to happen.
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maria: getting a firsthand look at that time border crisis, vice president kamala harris is not going to the border but i am. tune in tomorrow morning live, i'll come to you live from the southern border in mcallen, texas. we're back in two minutes' time. i had saved up some money and then found the home of my dreams. but, my home of my dreams needed some work. sofi was the first lender that even offered a personal loan, and i didn't even know that was an option. the personal loan let us renovate our single family house into a multi-unit home. ♪ and i get to live in this beautiful house, with this beautiful kitchen, and it's all thanks to sofi. ♪ [announcer] durán catches leonard with a big left. ♪♪ 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.
maria: welcome back. the real estate rush, a new report shows 31% of nationwide users are looking for new metro areas to move to this year, with phoenix, arizona the most popular destination. out-of-state buyers with larger budgets are edging out locals and driving up prices. let's get into it on real estate. joining me now is dallas based real estate executive, roger heely. great to have you this morning. tell us about the trend. where are people moving? where do you see the big movement within the country? >> it's crazy. i mean, i think we're in the open by center in dale-epicenter in dallas. i think anywhere where you can get a backyard and any kind of view, it's the wild. , wild west.in dallas, it's likr people to get an iphone. we have lines out the door for people seeing houses across all sorts of price points. the people from california
moving here increased luxury price points pretty astronomically. it's been insane. maria: so you're saying people from high tax states are moving to low tax states, that's one of the drivers behind all the movement. what does this mean for existing homes and the price of our homes? for the first time in 15 years, it costs less to buy a new house than a home that was previously owned. tell me about that trend. what's driving all of this? >> supply and demand. i think people just want in something, right. what we saw last year is obviously people can exist from home but they want more of a home to exist in so they don't drive themselves crazy. so i think that if there's something available right now they they can move into, they're willing to overpay. right now construction costs are the highest they've ever been. lumber is up 400%. people don't want to wait. you see them going and getting into bidding wars on homes that historically would sit on the market for 60, 90 days, they're
getting multiple offers the first day on the market. we've never seen something like this. 15 years ago, it wasn't this crazy. we still have low interest rates and people are actually qualified to purchase. so it really is just a corner of crazy and crazy in places like dallas, they're really benefiting unless you're a buyer. maria: well, look, we always say money is mobile on this program. money will move where it's treated best. you're in california right now. what's going on that you see in terms of money being mobile and people seeing new policies and changing as a result? >> yeah, i mean, look, it's all relative. just in dallas alone we're getting almost 400 people a day moving here. i think probably 70% are from california, san francisco, la, et cetera. california is not going anywhere. people obviously have always wanted a good deal. i think historically a good deal in california was literally getting a deal. now a good deal in california might be 80 to 90 cents on the dollar which you haven't seen in
these towns like san diego, los angeles, et cetera. it's going to level out. the thing about dallas, texas, austin, atlanta, the places that have been boom towns we have a new normal here. once you have a flood of people moving from high tax states, it changes things forever. i think our new reality is going to set he'll in. it's going to be -- settle in. it's going to be interesting to see what happens. maria: yeah, it's true. obviously, you're in dallas but rob luna who is with us this morning, he's from california. rob, jump in here. do you see moves happening in california where you are to speak to what rogers is telling us? >> yeah, i mean i think what rogers is saying is definitely true for the most part. that being said, maria, i know the narrative is everyone is leaving high tax states like california. i think that's true. that's mostly in the upper end. when you look at the homes in
california, starter homes, 4 or $5 million above, that's where you seem getting beat up. the 1 million, $2 million price range in california, there's still bidding wars. i think you've got to look at it across the board depending on your price point. maria: rogers, it's great to have you this morning to outline it all. come back soon. thank you, sir. we'll see you soon. we'll be right back. because of the research that i've started to do on ancestry, with documents, with photographs,
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bucks. dagen, you in? dagen: absolutely. it will have nathan's secret spice recipe used in the making of the plant hot dog. i just think that the more options you have, like i love hot dogs but i don't eat meat so i'm all in on this. i'll be ordering some. i wonder how they cook on a grill though? i wonder if they fall apart. i'll do a test and report back. maria: okay. good. rob, what about you? rob: dagen, you look so healthy, i knew you were going to support this. unfortunately the pea based hot dog i think is anti-american, maria. i want nothing to do with this one. give me the good old nitrate hot dog with sauerkraut and onions. maria: still ahead, big tech earnings on tap. we are going to dive into it, what to expect from the big week that we've got. 48% of the s&p 500 reporting earnings this week.
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is tuesday, april 27th. your top stories right now, 7:0e east coast. vice president kamala harris' role in addressing the border crisis is not about the border, the white house is now doubling down announcing a plan to send more than $300 million to central america to get migrants to stop coming here. be sure to tune in tomorrow morning, i'll be live from the border in mcallen, texas. we'll bring you a firsthand look at the growing crisis. "mornings with maria" will be there for tomorrow and the rest of the week. we're expecting a quiet opening,
we're kicking off a two day federal reserve meeting. dow industrials in positive territory are a gain of 38, nasdaq up 19, s&p 500 higher by 5. earnings season is rolling out. microsoft and google are among the big names reporting quarterly numbers later today after the close. both stocks are trading up ahead of their reports. after the s&p 500 and nasdaq finished in record territory yesterday. take a look. the dow industrials was negative. the nasdaq was up 122 points, almost 1%, finishing the day at 14,138, that is a new all-time high. the s&p 500 with a gain of 7 and-a-half, finishing at a new all-time high of 41, 87. global markets this morning look like this. european indices are quiet, pretty much fractional moves across the board but all negative. in asia overnight, similar story. very much close to the flatline as we see on the asian indices. "mornings with maria" is live right now.
now some of the top stories we're watching this morning. a disturbing new trend emerging at the border. parents in a tijuana migrant camp are reportedly urging teenage sons to scale the wall and get caught to gain easy access into america. the number of unaccompanied minors crossing the border hitting record highs under the biden administration. border patrol encountering 19,000 in march alone, part of the 172,000 that were at the border in march. meanwhile, vice president kamala harris today will meet virtually with representatives from community organizations in guatemala. she met yesterday with the president of guatemala and she promised to send more aid and money as well as personnel from the department of homeland security. the white house reiterating that her role is not to deal directly with the crisis but to address the root cause of the crisis. president biden is expected to sign an executive order raising the minimum wage to $15 an hour
for federal contractors, this will affect hundreds of thousands of workers including cleaning and maintenance professionals, agencies will be required to implement the increase by the end of march 2022. and the biden administration is expected to relax outdoor mask guidance as soon as today. this after dr. fauci said that the risk for outdoor transmission is really low. meanwhile, the u.s. is planning to send up to 60 million doses of the astrazeneca vaccine to other nations. the fda has not authorized it for use in the united states. new fallout from the archgos hedge fund collapse, ubs lost $774 million, a bigger hit than initially expected. big banks now have lost more than $10 billion as a result of that unwind of the hedge fund. in premarket shares this morning, ubs stock is down 2 and-a-half percent. time for the word on wall
street, top investors watching your money. joining me now, university of akron investment fund chairman, dennis gartman. payne capital president ryan payne and rob luna. ryan, we are looking at a market that is edging higher, once again in record territory. a big day for earnings. big tech apple and microsoft will report their first quarter numbers today after the bell. we've also got other companies reporting today as well as this week like starbucks and visa later today. what are you expecting to see from big tech on earnings? >> well, i think they're going to destroy earnings and i think that that's been the theme so far this earnings season. 84% of companies have already beat earnings by an average of 30%. but i think the problem here is what we're going to see, maria, is tech fatigue and i think tesla is indicative of this, tesla blew away earnings yesterday. the revenue was up over 74% which is just mind-blowing.
and they made $100 million selling bitcoin. i know dennis gartman loves bitcoin. that's another story all together. but the stock today is down 2 -- [laughter] >> the stock today is down 2%, with that kind of fantastic news. but have you to remember, tesla still trades at 175 years worth of profits. so i think you're going to see the same problem as we move into earnings season here, is you're going to see big numbers coming from tech. you're going to be very disappointed with the stock prices. and if you look at tech year-to-date, it's up about 9% which isn't bad but when you start comparing that to all the asset classes that benefit the most from the reopening of the economy, it kind of pales. like energy stocks are up -- energy's up over 30% for the year, financials are up over 20% for the year. if you start looking at real estate investment trusts, which did horrible last year, they're up 15% this year. commodity price up 15% this year. which says to me with inflationary pressure going and
dennis gartman talks about this every week and basically with earnings surprises coming from a lot of these sectors that got creamed last year, that's the place you want your money. tech's going to continue to disappoint as earnings season especially this week aztec starts to essentially announce their earnings. maria: yeah. look, you are saying a lot there. tesla did report record sales last night but the stock is down, right? look, rob, jump in here. i know you've been looking at tesla. revenue was up nearly 75%. ceo elon musk announced the company sold off 10% of bitcoin holdings in an effort to show the cryptocurrency is a good alternative to cash, to show that transaction, rob. why is the stock trading down even though you had the revenue surge? >> maybe because he's going on saturday night live and they remember the last debacle when he was on joe rogan's show and they're trying to get ahead of it. [laughter] >> when you see what's going on, i think the stock -- like
ryan said, is priced for perfection. it has been one of the beneficiaries also of the bitcoin trade, like ryan is saying there, also you look at companies like micro strategy up 500% of bitcoin. so i think there's been a lot of transition fairly money that's not long-term money, looking to take some profits. this was a good time to ring the register. i agree with ryan to a point. i also think some of the names, energy, the industrials, have really done pretty well. when you start looking at the forward valuations, are they going to be able to continue to do that if interest rates rise, if the economy slows down like we all know once the sugar high wears off of stimulus is going to happen, i do think -- we saw it yesterday with the dow down, some money going back into technology. i think you have to be more selective. when you look at names like google, that's still a 20% top-line grower. they're going to benefit because of advertising, when travel and the rest of the economy opens up. like we said all year, i think it's a stock picker's market.
i think you can't blindly pick anything at this point in the market. you have to be stock selective. we'll see that as earnings plays out. maria: that makes a lot of sense, particularly as we are at all-time highs with some of the major averages. dennis, you are up. we are talking about you with you sitting there, with bitcoin. you don't like bitcoin. you've said that many times on this program. what is ryan saying? >> he really don't -- first of all, i don't understand bitcoin. i never shall understand bitcoin. i don't understand how it could ever be a useful tool to buy an automobile, to buy a house, to buy clothing, to buy a haircut with. it can move 15, 20, 30% over the course of a weekend. how can you possibly use it as a method of buying something? i still like -- you heard me say this before. i like simple things. i railroads, i -- i like railroads, steel companies, tire manufacturers, i like the movers
and makers of things, that if you drop on your not will hurt. i understand those things. maria: you said it's stuff that you can drop on your foot. i know the federal reserve is looking at that as well. i want to t get you to incorporate your comments about the fed. we're kicking off the two-day fomc meeting today. we know that chairman jay powell is going to hold a news conference tomorrow afternoon. we'll see and we'll be scrutinizing the language that he uses. but you've got to expect they're thinking about things that drop on your foot too, right? they're focused on inflation. >> i hope they are. the problem we have is that mr. powell said, what, three months ago, they haven't even thought about thinking about tightening monetary policy yet. now they have to think about tightening monetary policy. it will be a long period of time before they begin the process of tightening. i think it is possible that they may discuss it in the language of the communication. it is possible that mr. powell and his post meeting press conference may bring up the
concept of inflation and inflation is very real. but i think it's highly improbable they'll start to move to tight monetary policy at the short end of the curve until late next year. i think it's wrong to wait that long. gain prices are up. live stock prices are climbing, iron ore price is up, rubber prices, cotton prices, they're all going higher. the fed has to pay attention to this. will they in today's and tomorrow's meeting? i have my doubt. they should but i doubt they will. maria: larry lindsey has a note out from yesterday, fomc and inflation, he says the standard fed practice is to change as little as possible in each successive statement, although incoming data suggests they will at least have to note an increase in inflation pressures. the more pressing problem for the durability of inflation is likely to remain on the supply side of the economy. he is thinking that the incoming data is so overwhelming that
markets should be skeptical of the word temporary. of course, they use temporary in their last statement. >> larry and i talk about this a lot. we share e-mails all the time. we had dinner two weeks ago, talked about the fact that the fed has been talking about inflation as being transitory. it's time for them to stop believing that this is something that's transitory and something that is now permanently entrenched in the economy or permanently for the next several years. they have to start understanding that fact. i'm afraid they shant. maria: i don't know, ryan, if you agree with this. larry lindsay says consider the market pmi, the rise in manufacturing production was weighed down by difficulty sourcing raw materials and ongoing supplier delivery delays which were the most extensive on record. that was the pmi comment from the fed. he is saying the capacity crunch is a global phenomenon and it is going to increase the likelihood of durable inflation. we'll see what the fed says tomorrow. >> it's going to be a big
problem, maria. if you look at the amount of cash sitting on the sidelines globally, up to $5.4 trillion, that's a lot of money that will be spent later this year and you already have supply chains that are already constrained. it's the most obvious thing, the fed's ignoring it. dennis gartman talked about it every week. inflation is real. you need to readjust your portfolio right now and be prepared for the inflationary pressure. you can't ignore it. you have to invest accordingly. maria: thanks very much for weighing in on all of this. dennis, ryan. rob, you're sticking around this morning. we appreciate it. have a great tuesday. we'll see you soon. much more ahead. coming up, calls to uncancel america, gop senate candidate calvin king is here to explain his position. in the next hour, congressman brian babin will share his take on the border crisis as vice
president kamala harris pledges hundreds of millions of dollars to address what she calls the root causes of the surge at the border. american for tax reform president grover norquist talking to me about the proposals to raise your taxes. joining the conversation all morning long, dagen mcdowell and rob luna. we'll get back to this fantastic panel when we come right back. you're watching "mornings with maria" live on fox business.
maria: welcome back. new details emerging in the biden administration's plan to raise taxes. the change on capital gains will affect individuals earning more than $1 million a year as well as couples filing jointly who earn that same amount. president biden is set to unveil his american families plan tomorrow during a joint session of congress. joining me right now is arizona congressman, house ways and means committee member, congressman david shwikert. it's great to have you this morning. thanks very much for being here. what are you expecting from
president biden on his tax increases? >> i'm expecting a lot of policies that are in many ways just going to crush working families, the working poor. it's just stunning the left, nancy pelosi, the democrats, the biden administration, haven't learned the basic math of 2018, 2019, of what we did to help working families, help the working poor, see their wages go up rather dramatically. and it's as if they're trying to cancel all the progress we were making. maria: yeah, i don't understand it either. i apologize. it's david shwikert. my apologies there, congressman. >> it's okay. i have a tough last name for a politician. maria: usually people put an l in my name, bartiromo is also tough. i like to correct and get it right. thank you for that we're talking about a capital gains tax that
is going to be more than double for the highest earners, 43.4%. that's going to cause impact to the markets. what else do you think are among the more sort of stunning tax increases that will have real impact? >> well, let's go back to the capital gains tax. you just had a segment on what's sort of the contrast between the canesian model and supply side model, manufacturing, new products coming to market. if we're going to dramatically raise capital gains tax, the incentive to invest in that plant and equipment and supply chain is going to be crushed. you're basically in some ways creating an environment where we're going to chase our tail. we actually need almost something the opposite. we need more of those who have some assets to be willing to invest in people, in manufacturing, in more efficient ways to getting products to market. and we're about to take away that incentive.
maria: yeah. it's pretty incredible, actually. we'll see what kind of impact this has to an economy that's just getting its sea legs. i want to get your take on the border. the white house's new idea is to send $310 million in aid to the northern triangle countries. this package includes money to deal with environmental issues, health and education, as well as boosting the agriculture industry in guatemala, all of this to encourage the population to remain in the country. congressman, it just boggles the mind that the answer to people breaking the law, breaking into america illegally, the answer to that is to send them $300 million. do you think this is going to work? >> well, no, it's absurd in its layout. first off, there's several billion dollars in remittances
coming to the united states back to got ma a la. what incentive does the guatemala government have, it's a lot of money, nothing compared to the billions sent back from those who have been able to make it in our country. you want to help the country? allow them to have trade, allow them to sort of build that manufacturing commerce, where there's actually jobs instead of sort of the temporary stimulus of here's some money. we're going to give it to you. we have no idea how much corruption, how much of it will disappear. and guess what? we tried this multiple times in the past and it has failed. maria: why do you think kamala harris will not go to the border to see this up close and personal? i mean, you and your colleagues, you know, the congressman went, the -- congressmen went, senators went. i'll be there tomorrow live at the border. why won't the vice president go, do you think? >> my theory is a bit on the
cynical side. the mainstream media will follow the vice president where she goes. if she shows up at the border and sees the reality of what's going on, will the mainstream press finally have to give it a fair consideration of what's happening? and the per verseity is no one is talking about what happens when you allow open borders? you crush the working poor in our country. if you didn't finish high school, what you sell is your labor. and we have had an amazing couple years, 18, 19, where the value of of working people's labor went up in value. they were being paid more, moving out of poverty. we're flooding the market with competitors. we're about to crush the working poor in our own country by the biden, pelosi democrat border policy. maria: that makes a lot of sense, actually, on the mainstream media. now i get it. congressman, let me ask about the 2020 census data released
yesterday, showed the slowest u.s. population growth since the 1930s, a shift to the south and west. how does that impact the gop? >> i'm a little surprised in some of the allocations but if you do the math, gop should do pretty well from this redistricting. maria: all right, congressman, great to see you this morning, sir. come back soon. great conversation. tune in tomorrow morning, i'll be live from the border in mcallen, texas. we'll bring you a firsthand look at the growing crisis, right here for the rest of the week. back in a moment
in politics. that's -- why do people say things? who knows. people want attention. people are angry. people are jealous. who knows why people spread rumors. maria: wow. who knows, dagen, people are angry. what do you think? dagen: to quote steven miller, he's hosts a podcast, not from the trump administration, steven l miller, that andrew cuomo called all of his accusers liars at a press conference of out in the open, didn't even make a blip. wheres the me too movement? do people -- do individuals across the country only stand up for women if they're liberal? if they're democrats? if they voted for the right people? this man is a monster and it is shocking that he is still running the state of new york given the fact not only -- it's the way -- he literally just said that the people who were
accusing him are just attention seeking. this man killed more than 15,000 elderly people by sending covid positive patients back into nursing homes. he covered it up. he had help writing a book which he's also being investigated for, also in addition to the sexual harassment allegations and now, maria, we're finding out that on the weekly covid calls -- and this is based on reporting in real clear politics, phil wegmann wrote this story. so biden and harris, the president and vice president are not on these calls with the governors about covid coordination. biden hadn't been on one since he took office. but you know who is running them? andy cuomo. who has done the worst job of any governor. now he's head of the governor's association. but the fact that he is running the calls with governors aacross the country on the covid
response, so biden -- it is just unimaginable that you have somebody still in a position of power who not only killed thousands of elderly people, because of his incompetence. he lied about it and covered it up and then just like he sicced his goons on the women accusing him of harassment, he sicced his goons on grieving families. maria: i want to say, jen psaki is blaming trump. she told reporters in march, the reason that cuomo has taken over the calls is that there were operational aspects of the way the last administration approached covid. that's why. so she's blaming trump again. everything is trump's fault. coming up, calls to uncancel america, georgia's gop senate candidate calvin king is here to explain his position heading
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is tuesday, april 27th. a look at markets this half hour, we are expecting the markets to open in record territory and beyond. dow industrials up 5 points, nasdaq up another 15 and three quarters, s&p 500 higher by 3 and-a-half. we've got fractional moves but it is in unchartered territory as earnings season rolls on this morning. microsoft and google among the big names reporting after the close tonight. the stocks are trading up ahead of their quarterly report after the s&p 500 an nasdaq closed in record territory yesterday with the markets as you can see mixed at the close yesterday. the dow industrials were down 62, the nasdaq was up 122 at a new all time high, s&p 500 also at an all time high this morning. global markets are mixed. european indices as you can see down across the board. not by much. 15 points lower on the ft, cac
down 7, dax index in germany lower of by 45. asian markets close to the flat line overnight, at the close the biggest mover was japan, nikkei average down one half of 1%. the most vulnerable democrat in the senate, that's how the republican party views raphael warnock. he has drawn the first challenger, military veteran and vocal trump supporter, kelvin king, citing the need to uncancel america. he joins me now live. it's great to have you. thanks for joining us. it's interesting to see that warnock is the most vulnerable, maybe that has something to do with the fact that the democrats have staged this enormous upset over georgia's voting law. herschel walker was with me recently and herschel said to me of course they want to muddy up the gop in georgia, going into the senate race in 2022. what's your view on that?
>> well, i mean, it's the same old divisive tactics the democrats try to pull on republicans for decades. but the truth is, this law as it's written makes it harder to cheat and easier to vote. i actually commend our state legislators for passing it and these companies and the democrats who are speaking negatively about it should read it. they should read the law before they make rash decisions on it. maria: so you've got a jumpstart on what could be a crowded field of republicans. tell me about your platform and why you think warnock is wrong for georgia. >> well, i don't think senator warnock represents georgia values. i don't think anybody in america thinks he represents georgia values. he's not pro life. he's not pro second amendment. he's not even pro business in fact, businesses across the state of georgia are concerned
with this whole cancel culture that's permeating throughout the state. we bring -- i say hope is what we bring. these career politicians and woke corporations and entire cancel culture, they're being empowered and emboldened. all the while people like us and small businesses across the state they're left paying the price. it's just not right. i want to uncancel america. maria: i mean, let's face it. the corporate response to the georgia voting law was one of the biggest themes of this race. so what do you want to say to major league baseball, coca-cola, and we can't forget, kelvin, that, look, joe biden came out and called the georgia law jim crow 2.0. you know, should he come out an you apologize for mischaracterizing this? we know warnock is among the most vulnerable in the senate and i think that is part of the
reason that they want to muddy up the gop in georgia and yet these companies and the major league baseball association rolled over and actually -- taking the all-star game out of georgia hurt georgians. >> it definitely did. i agree with you, maria. i think president biden along with stacy abrahm and senator warnock should apologize for using such a divisive and hurtful statement. this is not jim crow 2.0, that's insulting to our black ancestor and my family. corporations and companies should read the bill before they make rash decisions because what happened is when the all-star game was pulled out of cob county, we lost $100 million of revenue. $100 million of revenue. that would have helped many of the people that they claim to support. so it's just unfortunate and it's bad policy and i think the people of georgia are getting smart on this now. maria: well, the other thing is
is that they're using it, everything they don't like they say it's a civil rights issue, kelvin. look, what do you think about the african-american community and voting today? because they're trying to say that the republicans want to suppress voting of the black community. are we not near all-time you highs in terms of brown and black people voting right now, kelvin? what do you say about that? >> that is the exact truth. in fact, i know a lot of black voters in georgia who were pleased with this voting bill because they felt like now their vote is being heard, their vote counted. there's a lot of disenchanted people across the state who felt the opposite, who didn't think their vote counted. this bill goes a long way in establishing secure voting and increasing voter integrity. maria: well, we had to see lots of changes after 2020 but hr1 wants to make mail-in balloting a standard.
everybody you ask says the same thing. mail-in ballots open the floodgates to fraud because in some cases you have ballots everywhere. send a ballot to an empty parking lot, it comes back completed. send it to a dead person, it comes back completed. how do you get your arms around that issue to ensure that people believe that there is integrity in the election which is so important to our democracy. >> yes, it is. i don't know why it's so hard, to be honest with you, maria. hr1 is another example of centralized government taking over the states. we believe in federalism. the states have the ability and the right to create their own laws that measure and acknowledge the people of the state. and the state of georgia, i mean, we spoke. like you i said earlier, i submitted legislation for passing a new law, a new bill that makes it harder to cheat. there was a lot of absentee
ballots that weren't counted or that were -- people thought they weren't accurate and this bill will put ids on the ballot requests and ids on the ballot where you can trace where the vote came from. that goes along way with increasing voter confidence. maria: doug collins, former congressman, today says that he is not going to run for re-election. he's not going to run for the senate seat. kelvin. but you still have a crowded field. we don't know if herschel walker is going to throw his hat in the ring at this point. tell me what you're going to do to stand out, kelvin. giving us one or two items -- give us one or two items on your platform that you believe will allow you to stand out in this race. >> well, let me first commend doug collins for the decision that he made that he thought was best for his family and for himself. he's been a good legislator in georgia, for georgia in the
past. and he would have made a good candidate. but there are other good candidates that are yet to announce and we expect more people to jump into the race but at the end of the day we feel like our platform of freedom, opportunity, and america exceptionalism is going to bode well for our campaign here in georgia. that's what people want to hear. and we have the strongest campaign to defeat senator warnock and what we want to do is win it for america and that's what a lot of georgians can get behind. maria: all right. we will leave it there. we'll be watching the developments, kelvin and we'll be watching your platform. great to have you this morning. thanks very much. >> thank you. thank you, maria. maria: all right, kelvin king joining us in georgia. we'll be right back. stay with us. maria: this week on "mornings with maria," tomorrow the border crisis escalating with no end in sight. we are coming to you live from the border with texas attorney general ken paxton. thursday, the border union
michael: this is the story of two brothers. david: my grandfather, pinchas. michael: my great-great- grandfather, rachmaiel. gigi: pinky and rocky. simi: there was an uprising in poland. david: and then the family broke apart. michael: they scattered around in different places. gigi: they worked hard. simi: and built new lives. michael: but rocky and pinky's families didn't see each other again... all: ...until now. david: more than 100 years later, ancestry helped connect us to our ancestors and each other.
then came the cultural revolution and he had to escape china. wong risked his life along with other, quote, freedom swimmers, to escape china and swim to hong kong. he was caught and then he was thrown in jail by the chinese come mist party -- communist party but he made it to hong kong on a third try. he would later arrive in the united states as a political refugee and achieve his dream. he graduated from harvard medical school. he documented his story in a new book out in stores today. he joins me now. the book is swimming to freem, my he's -- freedom, my escape from china and the cultural revolution. thank you very much for joining us. congratulations to you. what a story. can you tell us a little about why you wanted to escape so much from the communist party? walk us through life in china under ccp rule. >> thank you, maria.
i escaped from china after the cultural revolution and i was sent to a village. and my family moved from hong kong to china to help the newly formed people's republic but my father was punished in 1958 during the great leap forward movement. so i was accused as a little -- because of my father and with all the high school students we were sent to the village to be reeducated by the president. there's no future and i escaped just like hundreds of thousands of young people to hong kong and many die in the water. three of my friends die. one is my very close friend. and i decided to write a book
and i think if i -- nobody writes a story, they would forever be forgotten. maria: yeah, dr. wong, i'm really enjoying your book that i'm reading right now. look, what i say a lot when talking about the chinese communist party, i want to say it again, this is not about the chinese people. this is about the rule of the chinese communist party and we of watch their behavior every day, bullying neighbors in the south china he sea, the you human rights abuses in xinjiang where 1 million are locked up, the intellectual property theft and the list goes on. you wrote an -- op-ed for the la times that hong kong you saw as a beacon and it is, quote, forever lost. what are your thoughts on what's going on in hong kong right now, what china has done in terms of authoritarian rule? i am chilled when i see this
picture of the chinese police doing the goosestep on the ground in hong kong because for me too, as a global journalist for many years, covering the global economy, i traveled to hong kong and it was literally -- it was an international business hub. it is a very different place right now. give us a sense of what's going on there. >> the last time i was in hong kong was in 2014. i have been watching hong kong's developments quite closely. i think the world should consider hong kong is forever lost. it's no longer the freedom -- the beacon for freedom and democracy. so you should see hong kong as a part of china and that is what i want to say. so that's why i'm afraid to go back to hong kong because i know if i go back to hong kong i will
be caught and then probably sent to china in jail and i'm too old to escape and no way i can escape from china this time. so that is really is something everybody should be careful and to prevent any similar things happen in other places. maria: yeah. i mean, right now the navy is worried about china invading taiwan. is taiwan the next battleground where we're going to see those chinese police doing the goosestep on the ground in taiwan? dr. wong, what changed recently for the ccp that made it even more inward-looking than before? was it xi jinping who is the leader who is most like mau, he's dictator for life at this point. has he taken china even more inward and communist than
before? because there was a 40 year engagement here the u.s. led with china that we thought, well, maybe we can come to agreement and have free trade on the global stage and have a respect for each other's governing. but that didn't happen. the ccp continues to steal intellectual property, continues to bully neighbors and break promises on the global stage. >> maria, you are exactly right, and xi of today and mau of yesterday, they share the same dna and everybody knows what dna is. but many people overlook the xi and the bureau bow to mau's tombs before the military pa a parade, the 30 year anniversary. it's he very clear the signals,
the symbolic. chinese like to do symbolic and if people pay attention to it, you know that is the goal. when i was in china, mau's wanted to rule the world. the great leap forward of 1958 is going to surpass british in 15 years. at that time, 36 million people died in hunger and only 6 million people die in the jewish concentration camps during the second world war but nobody knows about it. maria: that's right. dr. wong, right now we know xi jinping's goal is to overtake the united states as the number one super power. that is why we focus so much on the ccp. dr. wong, such an important interview and an important book. thank you for joining me this morning. best wishes. >> thank you so much. maria: we'll be right back.
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go to aerotrainer.com to get yours now. maria: welcome back. time for the morning buzz. first up, live from new york, it is elon musk. the announcement that tech titan is hosting saturday night live upcoming saturday on march 8 is no laughing matter for some cast members, apparently. bowen yang responding on instagram by saying what does this even mean? he isn't alone. a fellow cast mate posted a screen shot of a tweet by bernie sanders stateing the 50 wealthiest people in america own more wealth than the bottom have. the posts have since been deleted. obviously him hosting the show was not a positive for everybody on the show, rob. what do you think about that? rob: let's not be mistaken,
maria. this is all about politics. this is about unions. this is about exactly bernie sanders. we all know that hollywood is not the most centric of environments. so it's completely about that. look, at the end of the day, saturday night live is trying to stay relevant. we see what's going on with media. i can't blame them. but make no mistake, this is all about politics. maria: dagen, what do you say? dagen: stop whining. maybe it will help your ratings with elon musk. guess what? rocket company, he's a superstar. you can only hope that you would be -- you know, have a fraction of the man's wealth. whether he can act or not remains to be seen but you know what? at this point snl should try anything to boost those ratings. i don't expect him to be in sketches, though. i think they're going to -- guarantee they'll make fun of him potentially but miley cyrus
is going to be on. miley can act. put them together. you never know. maybe they'll start dating. [laughter] maria: all right. coming up, the future of work from home in doubt. the return of the office causing some friction in certain workplaces, we'll talk about it. it all starts next hour, "mornings with maria" is live on fox business. er] durán catches leonard with a big left. ♪♪ 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? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪
maria: welcome back. good tuesday morning, everybody thanks very much for joining us. i am maria bartiromo. tuesday, april 27th your top stories 8:00 a.m. on the button on the east coast, vice president kamala harris addressing border crisis not about border she says white house disabling down now announcing a plan to send more than 300 million dollars to central america to try to stop migrants from coming here tomorrow morning i am coming to you live from border in mcallen texas a firsthand look at growing crisis, live from the border, for the rest of
the week, futures this morning, mixed take a look we have very close to all-time highs, and he probably will reach new all-time highs out of the gate this morning dow industrials down 2 points, the nasdaq up 20 s&p 500 right now higher by 3 1/2 earnings season rolls on, microsoft and google parent alphabet among reporting after the will be trading up ahead of the report s&p 500 and nasdaq closed in record territory, yesterday. at the close dow industrials down 62 but nasdaq up 122 points almost 1%, at all-time high 14,138 s&p was higher by 7 1/2, to all-time high of 4187 on s&p. check global markets this morning european indices, right now, looking like this, the ft 100 down 15 cac quarante down 11 dax lower by 63 we are kicking off a two day federal reserve meeting on interest rates, that will certainly be a focus for global markets asian markets overnight finished like this
fractional moves pretty much across the board. "mornings with maria" is live right now. maria: now some top stories that we are watching this morning, the special climate envoy john kerry, denying claims this morning that he shared israel's covert operations with iran when he was secretary of state under former president obama. in leaks dodd tapes iranian foreign minizarif says kerry told anaheim israel attacked targets in syria over 200 times kerry facing calls to step down as president biden's climate czar if true this is treason a disturbing trend emerging at border parents in aity tijuana migrant camp reportedly urging teenage sons to scale the wall getting caught, to gain ease access into united states number of unaccompanied minors hit
record highs under biden administration border patrol encountering nearly 19,000 under -- unaccompanied minors in march alone also the total number of migrants 172,000 with at the border innu march, vice president kamala harris, today, will meet virtually with representatives from community organizations, in guatemala, met yesterday with president of guatemala, promising to send more aid and hundreds of millions of dollars, as well as personnel from department of homeland security, the white house is reiterating her role is not to deal directly with crisis, but to address the root causes of the crisis. the 2020 krenses shows slowest u.s. population growth since great depression with major shift to south and west texas winner picked ip two additional seats colorado, florida montana north carolina oregon get one new skate redistricting, california loss at set a fifrt illinois
michigan new york o ohio pence west virginia also losing a seat in the house of representatives. >> the biden administration, is set to raise taxes, we will get to details, on the capital gains taxes when taxes go higher, this week, the plan will affect individuals earning morning a million dollars as well a couples filing will giant that earn same amount if proposed capital gains tax is -- sent o into law will be 43.8%, u.s. would have highest second of highest capital gains tax rate in the world second to denmark joining me right now bmo capital markets chief strategist brian, dagen mcdowell, and rob luna, great to see everybody, brian great ee youee ksth for bng ei,stst our ee. t t pact,cthat tha h hrher ca tal pital s cinal gaial g ns onomecon andy,he markmarketnet urvivivi goo d rninmorn marg mgariaar not not
r pforcholforcholalchicas lkoo at his attoreat caxes t n i iidua buaaseuaas y etet a l off gre g g markycmarks fir f of stall,n i i s ormfignalsignaet gter signsi with witpoitte taxax umbers tharst yout you you td abtt in termn s s 40 pr -- epg-- g theacthat top top ers tayve 90%%% s anywayanyw i i this country, so from impact with respect toed to spending probably less than most think bigger issue from psychological perspective, corporate taxes if corporate taxes go to 28%, talking about a 6% hit on earnings, with respect to the to s&p 500 earnings, looks more likely that going to be 25% tax rate then talking only a 3% hit, maria so why are corporate taxes more important? because companies are the was on that are paying, people in termination of employment, and if you do see jump especially small business side dagen
talked a lot about if you see a corporate tax increase, you are going to see jobs really slow down, then i think the focus of the fed in terms of employment viruses inflation so i think the corporate tax side a is going to create more fundamental issues than individual tax side. maria: you know the whole idea of having a competitive corporate tax rate, really matters, and i know you and i were both focused on markets and the economy, under the obama administration when we had a 35% corporate rate we saw that string of acquisitions by american companies, of irish companies remember that brian where you had a string of companies in america, acquiring companies in ireland and moving their headquarters to ireland because in ireland you had a corporate rate of 9%, what i always say is money is mobile will we see that mobility again if corporate rate goes too high. >> i think a very good chance of it. what is really interesting, is that we started to see,
reshoring let's call it after that massive on shoring that, of course, you and i saw, following the great financial crisis, and, you know, it is going to be interesting to see what happens, because with respect to the to inventory, about time in inventory not about how cheaply you make the units, it is going to be how fast you can get the units to the companies that is why usmca president trump put together is so important, because for all intents and purposes ilt was designed to use mexico as a hedge, versus china a lot of companies leaving china wrtdz to manufacturing next few years interesting to see what happens especially financial companies moving more to ireland remember their earnings are domestic where international companies, 40% s&p 500 revenue are from outside u.s. so tech companies in particular could be a
little bit more -- let's say stringent on -- in terms of moving revenue base around. >> i want to ask you about some i want your take on macro story right now and federal reserve as kicks off two-day meeting let me bring dagen in go ahead. dagen: brian is market acting like this capital gains plan isn't going to happen? right now? because it is -- joe biden is spending so much political capital, and i will focus on basically tearing part our energy industry. like half of this infrastructure plan is focused on you reducing carbon emissions ripping up the entire energy sector energy economy so you throw in a lot out there, and i just feel like, this capital gains plan is maybe a bridge too far. >> no, i would agree dagen that is why we as strategists as i said with maria very
difficult to look how individual tax plans impact the market because it is very noisy in terms of data, easier to analyze first of all, with respect to the to periods in corporate taxes go up, we know, too, that mr. biden has been very clear in terms of his perspective, take on covid, then take on infrastructure, then take on corporate taxes, and so, i think this capital gains may be pandering to base a little bit but i think going to be very difficult to get that through, in especially given the fact that you talked about top of the hour, wrpdz to some changes demographically in the united states if he is going to could it better hurry. maria: let me ask you about federal reserve, fomc kicking off april meeting today, chairman jay powell to deliver commentary tomorrow afternoon brian are you expecting any change in the language, we know that jay powell told us interest rates are going to stay at these low rock-bottom levels for a long time perhaps, well beyond 2023.
but the language, with regard to inflation, or you know what it would take to get the feds foot off gas may very well begin, you know, are moving marks, so what would you examine from this statement and this meeting brian? >> well, i think our you institutional investors we speak with spend too much time focusing on inflation first quarter maria forced them to sell tech away too soon as interest rates already decided that ten-year treasury itself going to 2%, you funniening happened came back to united states i think you may hear him talk about transitory risk where it is to inflation, remember we have been looking for inflation waiting for inflation 39 unifiers we've got 40-year bull market in bonds, so i think you may hear him talk about transitory, signs of inflation, maybe, multiples on stock market especially given the fact we had big run built is is very clear don't fight the fed
everyone trying to out thi them fed is not raising rates until 2023 or at very yaerlt fourth quarter 2022, notion of a taper this year is ridiculous. >> yeah, quick on macro story, we are in middle of earnings big tech, alphabet microsoft going to reporting quarterly numbers after the close tonight other companies expected, are starbucks, visa, what do you glean from earnings how does marco study look today. >> they are doing their job right stocks lead earnings lead economy we saw unprecedented price form last year in terms of prices unprecedented earnings calling for earnings peak in first quarter i think too early second-quarter earnings brett than everybody thinks as welteke stocks technical companies are doing their job, and that is why tech communications services discretionary favorite over next three to five years. >> all right we leave it there brian good the see you this
morning thanks very much. >> thank you. >> we will talk skoon much more ahead this morning texas is here, kamala harris pledges hundreds of millions of dollars to address what she calls root causes then americans for tax reform president grover norquist on president biden's proposal to raise taxes he will get into it with us you are watching "mornings with maria" live on fox business. dignity. it demands a rapid covid test,
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the. maria: welcome back. as you know vice president kamala harris made it very clear that hir role in addressing the border crisis is not about the border, the white house is announcing a plan to send more than 300 million dollars, to central america, as an encouragements to have them stop coming to the border monday to deal with environment, health education as well as boosting agriculture industry in guatemala to encourage the population, to remain in their country, joining me right now
is texas congressman house transportation infrastructure committee member brian babin great to see you this morning thanks for joining us i've got to ask you what i have been asking my guests this morning it is just a head-scratcher these people are breaking the law. they are coming into our country, you surging at border getting in front of those people will that long line that legally getting green cards to become american citizens breaking the law we are sending them 310 million dollars. is it going to work. >> it is -- it is -- no, it will not work maria great to be with you good morning. this -- this crisis is one hundred percent created by the biden administration. and sending 310 million dollars, you know is that just digging into the american taxpayers' pockets more. what needs to be done is to reimplement these policies that trump administration
actually came up wp over the last four years. after the trump surge we saw in 2019, they he negotiated some great agreements with at the he northern triangle countries with mexico, and implemented some policies that a actually should not have been reverseed by the biden administration they were warned specifically, by the trump people, not to do so. and they have simply ignored that, and even the guatemalan foreign minister laid blame for a lot of problem across our border at the feet of joe biden promises of increased benefits for migrants to come over, so, you know, if birthday really cared about these migrants as he says, he would not continue to empower cartels, to seek, i mean i don't know how many more children we have to see dropped over 14 foot wall or seeing 6 year olds wondering
around desert before we have something done about this he admits it is a crisis. >> not to mention the sexual abuse so many young girls are faced with because they are making this dangerous trek and they have to deal with drug cartels smugglers we are taking this program to the border, we are going to be there live tomorrow, and thursday, and we are going to give our audience a firsthand look at what is going on throw, in the mcallen, texas, we've got a situation, where vice president kamala harris says she is the border czar yet says not about the border. joe biden came into office and first week he said no more wall construction, no more remain in mexico policy we are going to reinstitute "catch and release" going to tell the world if you have a 6-year-old show up on border you will going to stay, i mean we know those things work, the last time this program went to the border in 2019, we met
unaccompanied children so much word today two years later, 172,000 people at the border in the month of march alone, is it that they don't want to take these policies back put policies back in place because it sort of you know they were trump's ideas is this all about ego that is the reason we have to pay higher taxes to spend hundreds of millions of dollars sending monday to guatemala? >> maria you hit nail on the head never ineffective liked president trump hated him don't want to admit his policies were absolutely working, you know, with the here we've kamala harris handing off footballs supposed to be drug -- the border czar, and, she has never been down to the border i just came back from border a couple, three weeks ago getting ready to go to the border again in a couple weeks. and, i can tell you that it is unbelievable what we're seeing, down there.
and the numbers of people we had 19,000 unaccompanied children across this border 174,000 total illegals spending 60 million a week, at the department of human services hhs, to house these -- these individuals. we are on track in this month to have 22,000 unaccompanied children and if it keeps going this wayma we will have by september want 26, 27,000 unaccompanied children, coming across every month, let's face it, they're doing this, not out of compassion for these poor migrants and what they are doing, this is a grand strategy i think everybody knows this, they want to replace the american electorate with people that are coming in put them immediately on government services they franchise them so they can -- cast a vote, they've tried that with h.r.1 passed the house.
and, this will give the democrats a permanent a majority all the way from the president on down, and so i think people -- they can see this people are not dumb, they know what is going on here. and the american people are being hurt and fleeced what about our own children what about our own schools? they are letting covid-positive individuals cross by tens of thousands many who do have covid we know that i saw it down there, my health-care provider myself -- and i -- attorney general kim paxton in texas filed another lawsuit, because the biden administration, is violating federal law in the face of a pandemic, we're trying to get our kids back in school, and we're trying to do the best thing in of all to open our economy back up in the state of texas. and b is really -- that in violation of federal law.
maria: we are going to meet with ag paxton to mcallen tomorrow we will hear from him directly congressman we will see if the subject comes up in president biden's address wednesday night will he mention the elephant in the room along with higher taxes great to get your insights this morning brian babin thank you tune in tomorrow morning i will come to you live from the border in mcallen texas a first land look at growing crisis join us for the rest of the week from texas. we'll be right back. but eventually, with spring comes rebirth. everything begins anew. and many of us realize a fundamental human need to connect with other like-minded people. welcome back to the world. viking. exploring the world in comfort... once again. hi, i'm pat and i'm 75 years old.
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making profit suppress at the same time dagen diagonal i want to point out this op-ed, because, corporate america seems to be letting us down on so many fronts, this op-ed actions taken by some companies in mlb has been operating like china's minicommunist party all censorship social media did not want stopped it but the kibosh on anything reporting anything they didn't agree with. dagen: this is going much further you go to what delta coca-cola did in response, to and major league baseball in response to the georgia voting law. because, social media companies don't agree with what twitter did at all, but you know they operate as publishes even though not recognizing that way under section 230 basically with
liability protection, he nevertheless, this op-ed is very telling because it says that coke and delta the like they are trying to have it both ways, operate as profit making concerns, and also political organizations. minichinas as you appointing out the only thing will stop this if it hits bottom line hurts bottom line coke delta being a like no competition out there they ought to wake up corporations have been doing this moving this direction for many, many years. trying to appear to be green, and sensitive to the environment. to curry favor with you younger customers, younger consumers even people who worked in the corporations, but taking this step is going to come back do slap them in the face mark my words and major league baseball dana white the head of the usee on
fox news said we kept politics out of sports people don't want it. maybe baseball needs to -- wake up to that. maria: well also the fact that they are attacking georgia, for no reason, they, obviously, did not read the law, but they are perfectly fine operating in communist china we know there are massive human rights abuses just for the reason you just said. profits dollar signs in eyes a lot of people worry ccp is going to invade taiwan, what will the u.s. do if the ccp invades taiwan? and what will happen if china ultimately does overtake america as number ones superpower how would you feel having a communist nation running the world dominating the world? will your children and their children have the same opportunities that you had growing up? if china superpower what do you think?
>> that is exactly itma that is the problem, if it makes that story talking about earlier simon & schuster, that much more important, because, as we are allowing this cancel culture closer to policies dictatorship when we're seeing with china the u.s. corporates are falling nat on their face not standing up becoming victims of this and like dagen was saying like you on youring generation our industry wealth management, ethe sg, environmental, social corporate government investing what liberal agenda is controlling as we see that more money flowing behind that we see our media addicted by cancel culture saying what is right and wrong that is a very slippery slope we are getting closer to exactly the policy we are seeing in china. >>. maria: really a sad state of
affairs we've got beijing olympics next year previewing that as well, how many americans are going for that? we will the take a break coming up americans for o to reform president grover norquist here on plan to raise our taxes a major update for apple's operating system privacy changes what they mean for you all right after this. stay with us. 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? or. do you find, somewhere deep inside of you, the resilience to get up.
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maria: welcome back on maria bartiromo tuesday, april 27 look at market this half an hydroahead of opening bell we're expecting a gain start of trading this morning, for the nasdaq and spooen further you go into record territory, the dow industrials, flat right now, down 3 points off the lows of the morning, as earnings season rolls on this morning with microsoft goaling parent al alphabet reporting after close trading higher into quarterly reports global
markets mixed union european indices negative ft 100 down 16 cac quarante country 7, dax lower by 38 in, asia overnight, similar story, biggest mover overnight in asia was japan that was down just one half of 1%, the petition to recall california governor gavin newsom qualifies for the ballot gerri willis with the latest there good morning to you. >> good morning to you that is right maria so far the petition gathered over 1.6 million signatures well over the 1.4 million needed, county officials have two more days to verify and report any rage signatures to california secretary of state. recall could couldn't be could be on ballot as early as this summer supreme court will hear first major second amendment case more than a decade rifle and pistol association challenging a new york law that bans residents from carrying a gun outside their home without a specific listens, the state calling on
high court reject appeal oral arguments begin this fall iphone update bad news for facebook good news for iphone users, apple changing privacy controls giving users transparency, and those who track for ads change meetdz targeted ads less effective companies like fake most likely lose revenue trading higher, in premarket trading. and, finally, photo former president trump makes debut at national portrait gallery when it reopens next month in famed american president's exhibit taken in 2017 after trump announced his plans for reflex, it isn't the official portrait that one is still reportedly being worked on maria. maria: all right, gerri. thank you so much we are looking at new details this morning he emerging on biden administration plan to raise
tax, the capital gains tax increase will affect individuals earning over a million dollars as well as couples who 2350i8 jointly that earn that same amendment president biden to unveil american families plan tomorrow during a joint session of congress joining me right now preview that impact is americans for tax reform groverer norquist great to have you thanks very much for joining us your assessment what you are hearing about joe biden raising taxes. >> well he wants to raise capital gains to higher than where it was when jimmy carter had it will where democratic house and senate forced him to bring it down. we know we have a policy even more than democratic office thought too extreme in late 70s wants to end up step-up when you inherate farmhouse small business the government will say here is what your parents owed in capital gains on that, instead of having that basis transfer to you you must now pay capital gains on
small business you don't have cash but you have to do pay it now. so it devastates the transition of small businesses farms homes within families passed as law by democrats 1976 so you you you outrageous he couldn't figure out how to make it you work, no times called it riltdz in 1980 they repealed it so these ideas this biden put mr. moderate mr. let's all work together putting forward are ideas ebb rejected by democratic peter because of damage to the economy he is doubling down on them. >> handful of op-eds this week my favorite by editorial board titled the dumbest tax increase, increase in capital gains tax, they also write a 43.4 capital gains tax is incredible biden taxes for
punishment sake writes larry lindsey says what makes this unusual well above the rate that would generate most revenue for government congress joint committee on taxation puts revenue maximizing rate at 28%, larry lindsey says work lower than that. that means president biden is willing to accept lower revenue, as the price for higher taxes, what is that about? is that just -- you know, ash stick in the eye to wealthy. >> that is democratic policy obama said exact same thing when he was asked you do know when you raise capital gains tax you won't get more money he said he didn't care it wasn't about raising money it was about you know, hurting people who work too hard. and, odd as that sounds envy is a very powerful emotion, it doesn't go away when somebody becomes a politician its actually asylums gets worse you are seeing same thing now talk about going back to bad ideas there also wage and
price controls innovative from overseas we have trouble coming up with new drugs europeans and others put price controls on them steal basically value what american companies create in pharmaceuticals, our government is biden, saying we are going to report is wage and price control previously using bad ideas from jimmy carter wage and price controls bad from roman empire didn't work then there is a bunch of -- people who should know better, willing to do great damage to the economy, for what they think is political benefit. maria: well -- >> -- this suburbs react what do you mean. >> next election the people who didn't vote because of guy with orange hair scared them find out what this costs and their ability to function in their life that is very expensive vote people cast, when they decided they were mad at trump because of this, that or other thing voted for
biden tax policy. maria: i see. you just mentioned the prescription drug part of this i want to get your take on that. because the democrats are also pushing for that but doesn't look like the health care -- the democrat lawmakers ebb pressured to you exactly being medicare expansion prescription drugs administration said will not include major health care reforms in the plan your thoughts. >> i think it is going to have that comes later they've been doing a series of things one at a time, they remain convinced they want to do this, and just at a time when these companies solved covid government didn't solve covid the countries intellectual property rights making covid in rear-view mirror the deposit is going to decide to smash that up so next time we rely on india or iran or who,
to produce the vaccine. >> unbelievable, exactly, look, we are going to have one of the largest corporate rates in the world, we know how you that ended in biden administration men companies acquiring i russia companies, ub taking headquarters to ireland i want to ask about krens shifting as well 20 kronis southwest winners additional seat on capitol hill tickets gained two seats several states illinois california new york each lost one seat, the census bureau this is smallest shift in any decade since 1941 any thoughts on the house seats, shifting as a result of this census, and redistricting i guess. >> sure, it certainly helps the republicans,because they are moving to lower tax red states what you do notice people moving from high income tax states to zero income tax states happening all across the tun from tennessee, to
florida, to texas, people leaving california, leaving illinois leaving new york and pennsylvania. taxes matter, just at this time as you were saying biden is going to take ip corporate rates up above you communist china we halls to add states and local taxes about 6%, to the federal corporate income tax when doing capital gains, if you live in california you are not paying 43%, you will be paying about 56% because california has high capital gains tax too, so when you look at some numbers biden says we are going to take it up this high, at your state capital gains tax, at your state corporate income tax. it is worse than it looks. >> a lot worse than it looks in new york talking about highest earnings facing almost 60%%, 60% income of going to government seems to me there is a massive attack on our governing institutions supreme court want to pack it former
liberals to the court h.r.1 want to get through this voting allow, this voting legislation, that pretty much makes mail-in ballots the standard makes democrats in the lead in office as long as you can see you also have all executive orders attack on governing institutions a word on that will this tax plan go through? >> will they just use reconciliation joe biden says he wants unity yet so far everything has been reconciliation one party pipeline democrats, no vote yet from republicans at all in any of this or executive orders where is unity? >> there is known there will be no republican votes for taxs increase because no calm for tax increase just as trying to come out of a recession caused by reaction to covid so no republican is going to vote for tax increase they will do it through reconciliation, but what are they doing? they remember from 1932 to 1994, 62 years you had democrat governments in the
house and senate except four years when republicans had house and senate, out of 62 years we have one party government in congress, they are looking no i since 94 when all republicans said we will he never raise taxes republicans more than half the time, they can't stand that, they want going back to when republicans never had to have house and senate change election laws there change labor laws put 80 billion dollars into irs part of the plan, 80 billion dollars into hiring bureau katz that they did this clinton obama johnson fdr, extraordinarily we will be spotlighting it throughout the way and talking to you throughout thank you so much for weighing in good to be with you. >> good to see you, sir, thank you grover norquist the future of remote work return to office causing friction in some places we will take about it when we come back.
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better hearing in no time. get started today at listenlively.com the sky is the limit now, on what i can go do. fact i'm going to go riding this weekend. maria: welcome back. companies work on returning to normalcy some employees are pushing back according to a study by the best practice institute 83% ceos want to return to the office, but only 10% of employees want to fear of covid avoiding how to care for kids rifting 9 to 5 work stooil dagen reaction to this do you think we ever return to
exactly the way it was? dagen: probably not. the exactly the way it was but -- so i think probably a high percentage of people want to get back in the office to get away from families. aren't you tired of being stuck you can indoors? there a lot of jobs that really people exel surrounded by creative thinking of others another issue is going to be, whether companies force people to get vaccinated. i think that most corporate america right now is kind of taking a wait and see approach, of -- of how many people on their own get vaccinated, i just wanted to point out that of the adult population, in the united states, more than half has gotten at least one shot. but if you look at you highest risk group over the age of 65, 82% of people who are over 65 have gotten at least one shot, more than two-thirds have been
fully vaccinated there is room to go, but i do think people will -- will be much more normal by the fall. maria: ro yep, what do you think some companies are lifting a covid vaccination as a requirement, for the job, going a couple mile to make sure covid is -- not inth in the workplace. >> i think different issues there that issue in particular maria in terms of a mandatory vaccination with hipaa everything i don't see how that is legally possible to force people to do that i am completely against that dagen's point in terms of getting back to normal i think psychologically in one or two or three month event probably would resume business as usual i think the way people think these days the way businesses the adapted like ours, i don't think we go back to what we perceive as normal i think more a hybrid event honestly i think for i would be interested employees that
don't want to go back what level performance that they've been on because a lot of employees that we have one more hybrid approach their times you he need that collaboration, but if efficient the cost efficiency for some companies reducing travel, reducing, office space has been a lot more profitable i think here to stay. >> if you want to work from home watch your salary get cut that is what companies wind up doing a luxury for you not the to have to commute so we are going to pay you less than somebody hoofing it into the office every day. >> especially in california that was justification earlier, i agree. maria: it is conversation taking place across the country a break when we come back a pink supermoon the night skies did you see what i posted on instagram i took shots last night we are going to take a look view this incredible moon making a buzz this morning stay with us.
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maria: welcome back one favorite morning businesses a show stopping appearance the first of two super moons illuminateing the sky calls pink moon was more a golden color, this is a look at some of the pictures that i took last night dagen you know that i love to take shots of the moon and the sun. i post them i have this fantastic view i love it check it out last night. >> i didn't get a chance to -- but -- you love taking photos of the sun, the moon, and a star that would be dusty, so it is always beach, sky, dog beach, sky, dog. >> [laughter].
maria: i love it. >> even when i woke up this morning i saw it through my window, it was so strong and full. it was then i looked at around 5:30 and it was gone. >> it was there all night. >> here in ka 1:45 a.m. to be at office by 3:00 waiting on the sun to come out, but i saw the pictures they look beautiful very impressed by view there i didn't see the pinkness, but great pic. >> yeah 12 full moons a year last year actually there were 13, there were two in october, we hope you checked out moon last night we will slip in a short break more "mornings with maria" live on fox business right after this. ♪♪ did you make it to thank you milky away.
maria: welcome back. vice president harris is not going to the border, but i am attuning tomorrow morning when i'm there live. we will bring you up close and personal notes and news from the border for the rest of the week. have a great day. "varney & co." begins right now. take it away, stu. stuart: i didn't know you are going to the border. good idea and i will listen to what you have to say tomorrow morning, maria. maria: thank you. stuart: sure thing. good morning. this is as big as it gets on the world's most powerful companies are about to report their financial condition and what they report will make a big difference to your 4o1k. this is big tech week. hours from now microsoft and google report, investors seem to expect a strong performance because their