>> they don't care about the border, they don't care about the american people, they care about the socialist agenda. elizabeth: okay, kt finish. >> popularity is down in the dumps. elizabeth: thank you so much for joining us. i'm elizabeth macdonald. we hope you have a good weekend, join us again monday night. ♪ ♪ larry: hello, everyone, welcome to "kudlow," i'm larry kudlow. save america, kill the bill. of all the latest goings-on in the washington swamp, we've got hillary vaughn live at the white house. hello, hillary. >> reporter: hi, larry. the white house is clearly feeling confident i because aftr speaker pelosi was here at the white house this morning, the house announced that next week they will hold a vote on both the hard infrastructure bill and president biden's social spending package. but this is happening as just
last night the president told america he still had several unresolved issues with two key votes that could hold up that social spending package. senator kyrsten sinema and joe manchin. >> first of all, she's smart as the devil, number one. where she's not supportive is she says she will not raise a single pen think this taxes on the corporate -- penny in taxes on the corporate side and/or on wealthy people, period. that's where its breaks down -- >> but the senate has agreed to with senator manchin -- >> nothing's been formally agreed to. i'm not going to negotiate on national television, but all kidding aside, i think we can get there. >> reporter: and, larry, there are some different tax proposals on the table. now the president said that sinema is not going for a corporate rate tax hike, so they are looking at a global minimum tax for corporations but also raising minimum corporation tax
to 15% and also a few other proposals, things like mark-to-market taxes on assets. but there's other areas too that are still completely unresolved. joe manchin wants work requirements for the child ax credit. the w president said last night, that is -- there's no deal on that. and also major unresolved issues on howor to expand medicare. progressives want to include dental, vision and hearing, and that's something that, again, manchin is not onboard with either. larry? larry: hillary vaughn, thanks very much for that update. by the way, you're absolutely right about work fair, key point. so, folks, save america, kill the bill. always good to start there. looks like the bill is being killed. now, the white house and left-wing media sources keep trying to sell a fir ray tale that they're -- fairy tale that they're close to a deal and it's only days away. by the way, they've been saying this for about three months. it's nowhere's near true.
you probably read. about the bernie/manchin exchange where bernie sanders said he wants $6 trillion, he's come way down to 3.5 trillion, and then joe manchin says how about 0? and he holds this goose egg up so everybody can see 0. once again, i'll repeat that manchin insists on means testing and work requirements for these social welfare programs and the progressive left and joe biden oppose this. and, in fact, as hillary vaughn mentioned, at the town the hall last night -- town hall last night joe biden said he's opposed to work requirements which, frankly, i think is an amazing thing for an american president to say. opposed to work requirements. wow. clearly, it's not bill clinton's democratic partyrl them. and kyrsten sinema has taken about a trillion dollars out of the democratic pay-fors by fencing off tax rate hikes for individuals, businesses and capital gains.
my kind of gal. that's a trillion dollars right there. and, of course, this fiction that more irs agents will discover more tax cheats and bring in $700 billion in revenues is utter nonsense. and the cbo will score it as nonsense. so i don't know about pay-fors. i have no idea where they think this thing f is coming. now, there's some floating, you know, taxing unrealized capital gains from billionaires. i mean, that was laughed out of washington this summer. it's a nonstarter. minimum corporate taxes at home and abroad which will do a lot of damage. at most though, it could generate maybe $300 billion. so the democrats, i think, really are still in denial about just how far be behind the 8-ball their budget reconciliation plan really is. on spending and taxing. and as manchin said yesterday, they won't have a deal anytime soon. his words.
and, by the way, some new news, seven texas democrats wrote a letter to aunt nancy and uncle chuck telling them how teed off they are that the green new deal is going to slaughter fossil fuels and the entire texas chi with huge job losses -- economy with huge job losses and then some. so those could be potential no votes in the house. thousand, let's step back a minute and a just look at this whole issue of the biden presidency. it's ten months old, and so far all of his major policy initiatives have failed completely. failed. in some cases, catastrophicically failed. such as the illegal immigrant border surge and the catastrophic withdrawal from afghanistan. then there's extremist unionization. and their attempt to defund the police. and then this crazy budget package. major domestic policy issues,
and it too is failing. then there's the extremist green new deal which, of course, has thrown a wet blanket over fossil fuels, but it has blown up the prices of natural gas, home heating,ng and, of course, gasoline. this has created an inflation surge which is the most unpopular issue in the country today. the host unpopular issue -- most unpopular issue. and thennnp the bidens failed to deal withte the container backup onon the west coast, and they initially sided with the long shore hen's union. they -- long shoremen's union. there's no money in s there for automation which would make things much more easy, yet it out there. finish and, efficient. frankly, i'm not sure any of this west coast story has changed. and then there's the biden allegiance to critical theory and their attacks on parents,
their desire to cancel our culture and our history with these crazy, woke notions. all of this is incredibly unpopular. in short, president biden and the far-left progressives behind him want to transform america. but fortunately, with its usual common sense, america does not wish to be transformed. so in less than a year, bind's presidency has a failed -- biden's presidency has failed. save america, kill the bills. kill all of the stuff i just mentioned. kill transformation. common sense america does not want transformation. this is the greatest country in the history of history. our democracy and our free enterprise economy, don't mess with it. that's my word tonight. now, to elaborate and explain and analyze, joining us now,
washington times opinion editor and fox news contributor charlie hurt and thees one and only forr white house strategic coms director, mercedes schlapp. welcome, folks, to both of you. appreciate it.bo you know, i want to -- the specifics arepe important, merc, but i guess i want to start with the broad view, this idea of transforming our economy and our culture and our society. is being rejected -- now, some of these poll, i'm sure you've seen 'em, independents have walked away from biden. his approval rating among independents is, like, in the mid 20s. which is really quite remarkable. so, mercy, common sense america, patriotic america doesn't want to be transformed, does it? >> right. well, there's the woke america, the one -- the version written by the radical leftists, and then there's the america that's
awakening. and this america that's awakening is realizing that we can lose this country very quickly if we don't stop these progressive ideologies, progressive policies. but let's remember, larry, this started not just in the biden administration, this started back in theot obama add manager. administration. and it was donald trump -- the rejection of the obama leftist policies happened when donald trump won. and now we're back at it again in the saddle for the soul of america. and now you're actually seeing parents waking up, individuals who had never been involved in politics before this, i don't want to yet involved, it's too messy, it's too dirty. wait a second is, this is affecting my bottom line, this is affecting the money i bring to my house, this is affecting the education of hi children and the indoctrination of my kids. we need to stop this. and that is why you're seeing
independents walk away from biden, and you're seeing even some democrats question biden's inability to lead this country and instead surrender to the left. larry: well, i just was interested about the seven texas democrats who are really angry at then green new deal which will shut down texas. and, i don't know, those could be potential no votes. but, charlie hurt, you know, with biden and this transformational stuff, it just strikes me, charlie -- now, you're the political expert. being againstst parents, being gwen cops -- against cops, being against work, these don't strike me as really winning issues, charlie hurt. now, i ask you, you've covered this beat for a long time -- >> yeah. they're definitely not winners. i have no idea what these people are thinking. and, you know, you go back and look at, as mercy points out,
you go back and look at the obama years and the snapback after obama got elected in that, you know, gauze city, magical 2008 election. from that point on, now, obama himself got reelected, but over a thousand democrats across the country lost their seat because of obama's policies. and obama was at least appealing. and obama had, had sort of the aura of competence around him. what we've got with joe biden is like something i don't think we've ever seen in the white house since the invention of electricity. i mean, guy, this -- the level of incompetence that is displayed every day by this guy as he's asking congress to pass a $5.5 trillion spending plan because he's going to remake the country? i think the people are waking up and saying absolutely no thanks.
and i think the first canaries in the coal mine are those democrat house members and democrats across the country. and if you talk privately with them right now, they're terrified of what they see out of washington right now, and they're terrified of all the stuff -- as you just went through,s being anti-parent and anti-cop and anti-job, anti-work, anti-military, anti-everything. this is nuts. larry: all that just doesn't strike me as being a good political place to be. and the interesting thing is how little self-awareness they have in the white house. mercedes, besides being against work, they are in favor -- i always like toei be positive -- they are in favor of snooping into yourhe bank accounts, okay? now, this is a sleeper issue. actually, it's a sleeper-snooping issue. and the country is furious. i'd say right now at the edge of the bubble, the crusade against
parents in education and the crusade to snoop this -- in your bank account are two of the leading issues rightht now. what you think? >> yeah. well, that and i think the third piece of this is inflation and the economy and the stress that it's putting in our families which is having to pay higher gas prices, having to pay higher food prices. and it's, again, impacting your pocket. but i do agree that, you know, this is why i think you're seeing the democrats whether they're looking at taking that provision out in terms of the irs, in essence, charging your bank account or making sure that the banks have to provide that information of $600 or, you know, if you deposit $600 in your bank, it's problematic in the fact that the democrats have wanted to push for more irs. why? involvement. why? because they want her revenue. they need to find more revenue streams. it's the fights they're having
right now with senator sinema who says i'm not going to allow for more tax hike, and the democrats are saying, wait a second, how are we going to pay for, you know, all of our new entitlement programs that we're pushing for. that's what they want to do. they really believe there's money they're leaving on the table, andle it's why they wanto bring in more of these irs folks -- larry: you knowo what, her -- mercy, first of all, i'm thrilled to hear this economic analysis from you -- >> well, you taught me. i used to get lessons all the time in the white house. [laughter] larry: we're all going to go growthier. but i just think, by the way, the party that wants big government socialism, the party that wants to control the economy, the report in wants to control and change the culture, in other words, bigor governmen, big brother watching you, i think that party does want to snoop. not only for the revenues they may or may not get, they're not
going to get it, but i think it's a snooping party. they have no respect for individual rights. and, for that matter, freedom of speech. you know, that goes to the parental thing. it goes to anybody who complains about my friend tony fauci. they don't like dissension. and that's bad. and america doesn't want to be transformed. i want to just put that in. i think america -- the moral of this story, america doesn't want to be transformed. maybe improved, maybe more prosperity, you know, tweaks, but not thorough-going transformation. i'll give you the last word. >> no, i think you're exactly right. and, you know, just look at what terry mcauliffe got caught out saying. a scandal in washington is when a corrupt politician accidentally says exactly what he thinks. in that debate earlier this month in which he said that he doesn't think parents should be telling schools what to teach their children.
well, that is a widespread belief among democrat politicians in washington and around the country. and it's truly terrifying, and i think you're exactly right. they want to snoop on people's bank accounts who have $600 in their bank, they want to snoop on them because they think they know best, and they don't think people should be able to a make decisions for themselves how to teach their children or how to spend their money. they want to take all the money and spend it for them. larry: yep. socialist central planners love to control -- >> yes, central planners. -- larry: they snoop. it's the snooping party. mercedes, is glenn young kin going to win in virginia? >> look, i think he's got a great chance. i don't want to see a close election. if it's a 500-vote difference, we're going to end up in really big, big50 trouble, and the youngkin campaign better be ready for any recounts that could come their way. we want to win bigly, as you know -- larry: i like bigly.
>> larry, bigly. larry: if you do, it will kill the bill. it's a double. >> yes, it will. larry: kill the bill. no snooping. coming up on "kudlow," well, joe biden is still claiming that his massive, big government socialist bill will cost zero dollars. well, you know, it will certainly cost zero once we kill it altogether. we're going to get senator john thune's take on all this. hang with "kudlow." we're coming right back. save america kill the bill. don't transform. it's a great country as it is. ♪♪ [ marcia ] my dental health was not good. i had periodontal disease, and i just didn't feel well. but then i found clearchoice. [ forde ] replacing marcia's teeth with dental implants at clearchoice was going to afford her that permanent solution.
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♪ >> the cost of the build back better bill in terms of adding to the deficit is zero, is zero. zero. the cost of the build back better in term thes of adding to the deficit is zero. best of all, the cost of these bills in terms of adding to the deficit is zero. zero. zero. it is zero price tag on the debt. it's gonna be zero. zero. it's all paid for. it's all paid for. larry: okay. that was a very good montage from one of my producers. joining us now, senate minority whip mr. john thune.
senator thune, it's wonderful to see you, thanks for doing this. ind have a bunch of things to tk with you about, john, but i wanted to know, so you heard the president 10 times or 20 times or 100 times say this whole thing's going to be paid for, it will have zero cost. now, if it's defeated, it will have zero cost, which would be the best option. but right now they're all, you know, puttering around. how does it get to zero cost? >> this is why you don't want to have democrats hanging your family budget, larry. it's totally phony math. they assume that with all these tax increases that because they're raising trillions of dollars of revenue, it really isn't going to cost anything. one is, it will, and two, they will add to the debt because they aren't going to come up with enough tax increases. so it's just a lot of phony math. and the fact that he's out there saying that is completely
betraying the actual state of affairs in terms of what this discussion's all about. larry: yeah. for a guy that's been around washington 50 years, it's amazing how he tries to sell these fibs, i'll call them. presidents don'tes lie, they jut fib a little bit. it's amazing. so senator sinema just took a trillion out because she won't vote for a higher corporate tax, a higher personal tax and a higher capital gains tax. so right there, senator thune, i think the democrat are in denial about their lack of funds. now, don't get me wrong, i don't want any of this. i'm just saying given the situation, i don't think they understand it. >> i think they're desperate to get this done, so much so that they're nowow going to zinn that with other crazy -- sinema with other crazy tax ideas. you mentioned the so-called mark-to-market where you would tax on realized gains without consideration about what happens if the market drops. you going to refund all that money.en it's a wealth tax. it's a way of redistributing
money. it's not a new idea. there are members on the democrat side who have been advocating this for some time. but they -- to her credit, she has held her ground on corporate rate, individual rate, capital gains rate. that's great news for america because if we raise those taxes, what you're going to see happen to the economy is the growth that we expect to see, the job creation thate we expect to see would be completely obliterated. and is i think this is -- i hope that she can continue to keep that stand under the pressure she's going to get from democrats to vote for some form of tax increases that will help fund all this expansion of government they want to do. and there aren't enough places right now for them to go to get it. larry: well, you know, senator, first of all, you're right. if this stuff went through, it couldn't be zero cost because, i don't know, 5 million jobs are going to be lost, wages will go down, inflation goes up and the
spending and the president fed, and the economy will shrink. those are costs. whether they're revenue costs, they're economic costs. but, senator thune, you're a really important guy. so talking about senator sinema, i've never met her, but i just wonder if you have, you know, dialed her up and invited her to one of the gop, i don't know, the tuesdayay the policy lunch? you know, kind of get her comfortable with that idea? >> w well -- [laughter] we make regular overtures -- [laughter] both her and joe manchin, as you might expect. i tell people i mow joe manchin's lawn every week. they arean right now the only thing standing between us and a runup in government, growth in government, expansion of government, bureaucracy, debt, taxes unlike anything seen in american history. and so it's really important for the good of the country that, yes, republicans as much as they can reach out to democrats who
havehe the right frame of mind n this. joe manchin, i think, agrees. you heard him say yesterday in the reporting about him not thinking any of this is necessary. well, we agree with him on that and i hope, again, he stays in the place because, for the good of the country, we need to -- it's not just the amount, it's what's in this. larry: yes. >> this has got horrible ideas and a horrible new one comes out every day. this idea of spying on people's bank accounts, the things they want to do. tree equity, $3 billion for tree equity. what is tree equity? when you start drilling down and looking what's in this bill, it is scary where this is headed. and america should be taking notice and hopefully they will ask we'll -- and we'll get some changes made in '22. larry: let's just talk about this snooping thing. $600, now it's up to $10,000, but senator mike crapo, who used to run the banking committee, he
said it's nonsense because somebody earning $50-60,000 a year, if you look at their annual transactions, it would be about $65,000. so this $10,000 number doesn't heene a thing. the reality -- mean a thing. the reality is they will snoop on all of us. >> right. and they're getting so much pushback on that, that's why i think we saw the change from 600 to 10,000. they pivoted very quickly, but it doesn't change anything. i mean, you're absolutely right. any average american is going to run through their bank account on an annual basis way more than that, meaning that the irs is going to be able to surveil and do, essentially, a dragnet across all americans' bank accounts. think about the invasion of privacy that represents. and they keep talking about just going to penalize the rich. well, again, you look at the analysis done by the joint committee on taxation, this $75% of the revenue they hope to gain comes from people making less thane $100,000 a year: that's
what we're talking about, and the level of intrusion that this federal government is talking about in the lives of americans. and when these tax increases kick in, larry, and i don't want people to be the i paying more taxes, it's also going to worsen the inflation problem -- the. larry: yes. >> -- that weob have as a result of a lot of these democrat policies. energy costs in my state of south dakota, winter is coming, they're talking about 50-60% increase in energy costs here in south dakota. and already, according to moody's analytics, $175 a month is what it's costing the average family already, and it's gonna get worse. larry: senator john thune, thank you, sir. good to see you. we appreciate it very, very much. hope you'll come back soon. nexte up on "kudlow," well, biden admits he has no meet solution for -- immediate solution for his self-inflicked wound, that being sky-high bgasoline prices. that's what john thune was just talking about. we're going to discuss what he should be doing, and we're going to talk to a great former energy
secretary, that being rick perry, when "kudlow returns." catch "kudlow" every day monday through friday at 4 p.m. right here on fox business. and if you can't catch us for some reason, please, just dvr the show. you'll never miss a thing, and you'll know why we need to save america and kill the bill. ♪ ♪ ♪ red roses too ♪ ♪ i see them bloom ♪ ♪ for me and you ♪ ♪ and i think to myself ♪ ♪ what a wonderful world ♪ a rich life is about more than just money. that's why at vanguard, you're more than just an investor, you're an owner so you can build a future for those you love. vanguard. become an owner.
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♪ larry: so at last night's town hall president biden said he has no answer to the energy crisis that i say his own white house has inflicted on the u.s. tedon't take my word for it, jos now, rick perry, former energy secretary, former texas governor. you know, rick, it's probably not a really good thing for a president to say, that he has no idea how to fix a big problem like skyrocketing gasoline prices and natural gas and oil. i mean, shouldn't he have a plan?
even if he makes it up? >> all think that the president of the united states -- particularly one that sold himself to be the be-all and end-all, 45 plus years in the united states senate that he was going to come and get things back working again. and nothing could be farther from the truth. i don't know, larry, whether or not he doesn't have a plan or the people around him will not let him pit a plan into place -- put a plan into place because we know how to fix this. this isn't rocket science. the united states is the number one oil and gas will producing country in the world. but because of his policies, war against fossil fuels, the shutting down of the keystone pipeline, for instance, the stopping of major projects in the united states, sending the hedge to all those people -- message to all those people that would invest in american oil and gas projects that you do that, and there will be a price to pay
for you. all of that collectively has really strangled our oil and gas industry. it's the reason we're seeing gas prices go up to record levels, it's the reason that we're seeing people lose jobs across the country, good on union, high-paying jobs. this could, this shouldn't have ever happened. president trump had us on track with energy independence. we were working well with our european friends to deliver liquified natural gas to those countries over there. is we were working well with saudi arabia, pushing back on russia. and how do you mess this up in nine months, larry? larry: yeah, it's very impressive that he has failed on so many fronts in such a short period of time. you know what, in the paper today chevron and exxon
announced that they are pulling back from their oil and gas operations, pulling back investment, pulling back production. i reckon that's because of the bidens hate fossil fuels and made that are very clear. and the other thing that a amuses me, rick perry, is this glasgow climate summit which every whack-job in the world is going to attend, biden is going with 13 cabinet members. biden and 1 cabinet members, and is russia's not going, and china's not going. now, what does that tell you? >> well, it tells you that joe biden and his cabinet are a lot more interested in sipping chardonnay and eating brie cheese z with the elites of the world. [laughter] it remind me of the marie
antoinette quote of let them eat bread -- let them eat cake -- larry: cake. >> the point is you have americans who are suffering who are havinger tough times acing their bills -- paying their bills. gas prices going up, food prices going up, inflation at record levels for current history. and he's taking a group of his buddies overg to a summit that s going to drive inflation up higher, make the cost of gasoline go up even more. you can't make this stuff up. larry: and big polluters. especially china. it's not that they won't abide by any of these former paris climate accords, they're not even going to go. they're not going n to show up. that makes it easy, doesn't it? i mean, i just love it. and putin's not going to show up. but president biden has no time to go to the southern border with respect to t the immigratin crisis, but he'll go to glasgow
and take 13 cabinet members and senior staff. i mean, it's a heck of a thing. the symbolism is unbelievable. >> yeah. larry, there may be another reason he's not going to the border, and that is because border democrats are fed if up with this guy. when you think about these congressional candidates, these congressmen and women across texas that belong to the democrat party and he is literally pouring them out, henry cuellar from laredo. i know henry, he's a fine man. but the fact of the matter is these policies are killing his district. their oil and gas producing. it is strangling those hispanics that's losing their jobs becausa of biden's policies. lizzie fletcher in houston. those congressional candidates are in trouble. now, the message is going to be pretty clear to them, we don't
care about you. so my question to them is why do you care about joe biden and democrats that are going to pour you out? why don't you jutte stand up and say -- just stand up and say, hey, mr. president, we are not going to stand for you killing our con sitwents and our state. so don't go looking to us to help pass this nonsense. that's the message they need to be sending out. larry: those are the very names, maybe you saw it -- cuellar, gonzalez, fletcher, garcia, there's seven texas democrats who have written a tough letterh to, to aunt nancy and uncle chucky. here, let me read you. quote: language in the house budget reconciliation package specifically targeting the u.s. oil, natural t gas and refining industries has the potential to cost thousands of jobs, stifling economic recovery, increase energy coststs for all americans and strengthen our adversaries. if you know, rick -- you know,
rick,es are those seven votes against reconciliation, seven democratic votes against reconciliation? >> they should be. i mean, they should be clear. listen, if you don't come off of this war against our constituents, we're not going to be for you, forget it. find somebody else. oh, you can't find anybody else. that's the problem. so these individuals need to stand up for their constituent, stand up for their state. and, clearly -- hey, there's one thing about sending a strongly-worded letter,bo okay? there's another thing about doing what you say you're going to do. let's see some action out of these congressional democrats. stand up, send a clear message, no her. larry: yep. -- no more. >> well, we're still, as you know, we're still 2 million barrels per day lower than we-pandemic. that -- pre-pandemic. that's because of the wet blanket. they don't want to invest and produce the the they can avoid it, these companies.
and, rick, i think if you put those 2 million barrels a day back online in the market, those gasoline prices would come way down along with the rice of oil. >> of course they would. and if you would open up the xl pipeline which was bringing that heavy, sour-type crude which is what we use in the united states to refine for gasoline, we had this country on a good track energy wise, economically, and this administration is killing it. hithey will pay a heavy price in november of 2022. guaranteed. larry: former energy secretary rick perry. rick, you're wonderful. thanks for giving us time today. coming up next on "kudlow," so we now know that it was the white house that weaponized the justice department against parents and their kids in school. it all came from the white house. surprise-surprise. we'll talk about it with steve miller, next up on "kudlow." ♪
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larr larry: all right, new information shows that the white house worked directly with the school board association, and together they colluded against the parentshe and weaponized the justice department with this charge of domestic terrorism. we know that now. joining us now is stephen miller, former senior white house adviser and founder of america first legal. steve, they tried to deny it. this is not some spontaneous thing. youne know, garland, merrick garland wouldn't fess up at his hearing, he was completely duplicitous. but basically, it was the white house driving this story. parents, domestic terrorists. >> it's shocking, larry s and hi organization has called for an inspector jenin dependent investigation -- general
independent investigation into the collusion between the department of justice, the white house and outside groups that are in favor of critical race theory in order to brand these parents as domestic terrorists and to use the awesome powers of federal law enforcement against everyday families. it really is something you never thought you would see in this country, and i hope everyone joins me in calling for a thorough, independent investigation. larry: that's good. that's terrific. i hope you get a lot of support on that. got another one for you. president biden doesn't have time to look at the southern border. we're going to play this sound, hang on a second. >> do you have plans to visit the southern border? >> i've been there before. i haven't had a whole hell of a lot of time to get down. i've been spending time going around and looking at the $900 billion worth of damage done by hurricanes and floods and weather and traveling around the
world. larry: so he's a busy guy, right? the new numbers have just come out. nearly 2 million if, nearly 2 million, you know, catch and release illegals. the budget reconciliation bill, as i think you know, steve, provideses welfare -- >> yes. larry: -- for illegal immigrants. >> yes, it does. larry: and in the dead of night, they're shipping the kids and others to various airports around the country. so i think this rings hollow. i think biden's really losing ground on this. >> iun think that answer is the final nail in the coffin of democrats on the hid terms. let's just start with that, politically speak. that answer just said to the entire country this president doesn't care about what his administration has wrought ott on the border. we went from the most secure border in american history under president trump to the most insecure border not just in the history of this country, larry, but the history of any country in modern history. and the president is not going
around, president biden, looking at hurricane damage. he's going every week back home to delaware taking long weekends, showing up for work on, like, a tuesday afternoon. this is so insulting, and i will add as you mentioned, the reconciliation bill includes welfare and amnesty for people who violate our immigration laws and come into this country illegally. that should be reason enough to kill the bill on top of everything else you've documented on your program. larry: save america, kill the bill. and whatever you do, help steve miller's first legal, first america legal. thanks, steve. >> legal.org, help us expose what's happening in our schools. larry: you got it, buddy. see you soon. all right, folks, up next, the democrats' tax and spending bill is down. it's not out, it's certainly down. so guess what? stocks are up. i don't think that's a pure coincidence. we'll talk about it with peter morici. please, stay with us. ♪ ♪
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and i'm reckoning profits are up, and the socialist spending and tax bill looks to be done. >> i think that's absolutely right. these businesses know how to make money even if we have inflation. they've made that clear. they know how to make money when the economy is slowing, and they're showing us how. at the same time, let's face it, those taxes would have been terrible for stocks, and, you know, now with the prospect of those taxes not happening especially to the capital gains tax, the corporate tax and so forth, i think that's really, really good for stocks. larry: and also tracking profits, profits are the mother's milk of stocks. we had ed yardeni on this week. profits look pretty strong, don't they, for the quarter? >> well, yes. i mean, businesses have been hit with a lot of what we call uncertain events, surprises and so forth, but they've been planningve for some time now for constraints on the labor side, and they're turning increasingly to automation, to artificial intelligence and so forth a lot better than, say, facebook does
and with more effect iness. and as a consequence, they're taking labor out of the equation for american business. i think that bodes well for them. i think to the extent there are kinks in the supply chain and shortages and so forth, but it also raises their pricing power. and, you know, when we talk about stocks, we're talking about larger companies, they know how to work around these things and maps his their circumstances as -- maximize their circumstances as best they can. larry: so dow jones, new record highs, peter? last seconds. >> oh, i think so. we kind of had a bit of a record on the s&p yesterday. and i think -- larry: peter morici. the history she writes in her clear blue skies. the legends she births on hometown fields. and the future she promises. when we made grand wagoneer, proudly assembled in america, we knew no object would ever rank with the best things in this country.
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free decision guide. humana, a more human way to healthcare. ♪♪ >> americans do not want radical transformation in the economy or the culture. let's save america. just chill the bill. ♪♪ >> from the fox studios in new york city, this is maria bartiromo wall street. maria: happy weekend, everyone. thank you for being here. welcome to the program that analyze the week that was an helps position you for the week ahead. i am maria bartiromo. president biden's ratings are tanking. the impact of the supply chain crisis and the inflation threat on americans. former national economic director larry lindsey is here with his take coming up. plus a