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tv   Cavuto Coast to Coast  FOX Business  April 7, 2021 12:00pm-2:00pm EDT

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dealing with trillion dollar companies getting more valuable by the day. at least as long as this tech rally lasts. that's it from me. my time is totally up. but i'm going to leave you in the very competent hands of my friend and colleague david as asman -- [laughter] it's 12 noon, it's yours. david: by the way, i'm very disappointed there are no rainbows on mars. i was really impressed by that. i was fooled. nasa set me straight, and you did too. stawrting thank you very much -- stuart, thank you very much. i am david asman in for neil cavuto today. we bring you the headlines from across the country starting in georgia where the president says the state needs to, quote, smarten up to avoid more businesses leaving over recent voting legislation. why small businesses in the state say they are the ones striking out following the decision to relocate the mlb all-star game. and then to the white house where president biden is looking into what executive action he
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can take to cancel student debt. we take a look at who research suggests would benefit the most from mass loan forgiveness. and then to the southern border where another group of lawmakers are looking to get an eyewitness account of the conditions of the crisis. we will talk to republican congresswoman visiting the border today. the top story we are following today, growing pushback in the peach state. small businesses in the atlanta area striking out following the mlb's decision to pull the all-star game from georgia over that new voting law. fox business' edward lawrence is on the ground in truist park speaking with business owners or who are grappling with the losses this will bring. edward. >> reporter: yeah, david, we were e over by truist park, we've moved over to the highland area of atlanta talking to small businesses. and this is lunchtime as manuel's tavern. the all-star game was going to
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be a big boost, looking forward to that over the summer. he can only operate now at 33% capacity because of county regulations and taffe concerns, so we -- staff concerns, so he has this outside area. testifies -- he was looking forward to the game because it was going to be had his first profitable day since the pandemic started. >> it has been the hardest year of business i've ever been through. we've been holding on with our fingernails trying to make ends meet. and to have this, this event that we were looking forward to pulled away from us was very frustrating. the event was more than just a ball game and just an opportunity for more sales. for me personally, it was a return to normalcy. >> reporter: and manuel's tavern almost closed after 65 years of being in business. the community rallied around and supported this tavern the here to keep it ace float.
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afloat. he saw the all-star game as that true rebound. the cobb county tourism and travel bureau say the area will lose $100 million that would have been spent at businesses like this as well as minority-run businesses. when i talked with a beer distributer here, the company started gearing up to have supply for the game for the restaurants that are around the park as well as throughout atlanta. that supply is now going to have to be reallocated somewhere else, they're trying to figure out exactly what to do. so there's a feeling among business ownerses in this area that they're demoralized and a little bit distraught about the decision for major league baseball to move the all-star game. in fact, republicans and democrats in this state are saying there shouldn't even be a boycott of those companies because it would be counterproductive. bang to you. david: edward, thank you very much. and and president biden doing nothing to help this, praising companies for taking a stand georgia's new voting law saying it is now up to the state to,
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quote, smarten up. listen. >> i think it's a very tough decision for a corporation to make or a group to make. but i respect them when they make that judgment, and i support whatever judgment they make. but it's -- the best way to deal with this is for georgia and other states to smarten up. stop it. stop it. david: this as "the wall street journal" editorial board arguing that corporate executives are assisting an agenda that will hurt their businesses and their stockholder. let's get reaction from georgia republican congressman buddy carter. congressman, let me start with the president. what damage is he doing to people and the small businesses in georgia? >> he's doing irreparable damage. let me tell you, he just does not get it. he does not understand that these are people's livelihoods here. i just want to take the opportunity to thank joe biden,
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to thank stacey abrams and to thank raphael warnock for taking this away from the state of georgia. you should be congratulated. and you have achieved what you set out to achieve, taking money out of the pockets of small business people, many of them minority business people. you should be ashamed of what you've done here. and the president of the united states who sits back and does nothing to communist china when they are violating human rights over there, but you ask him about the beijing and 2022 olympics, no comment whatsoever. yet he wants to penalize his own states? that is irresponsible, and it's just despicable. david: well, and his a race-baiting is, some could argue, is getting out of control. i mean, to call this new law jim crow on steroids, we should be specific what jim crow was. jim crow was codifying racism throughout the south in a period right before the civil rights
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legislation of the 1960s. it essentially legalized segregation based on races. as far as -- i mean, just to say jim crow alone let alone to say jim crow on steroids is race baiting, and it certainly is not unifying the nation, is it? >> oh, no. and this is the same who during inauguration speech said that he was going to the unify this country. well, guess what? you're doing just the opposite. i mean, compare election integrity with jim crow apples and oranges. i mean, this is the, this is nothing. and it goes past that. it is, indeed, race baiting and it is, indeed, misinforming and intentionally lying about what 75% of americans said that they wanted, and that was election integrity. 60% of democrats, 69% of african-americans said, yes, we need more election integrity. i applaud the georgia legislature for what they did. they had the courage and the
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responsibility to do their job, and they did just that. and as a result, we got election integrity in the state of georgia, we've got secure elections, and we have confidence in our elections now. david: well, let's talk specifically about the mlb and their decision to pull the all-star game out of georgia. former baseball commissioner fay vincent just wrote an article in the "wall street journal" in which he criticized the current commissioner's decision. he said major league baseball can't become a weapon in the culture wars, a hostage for one political party or ideology. baseball must always stand above politics and its dark elements of corruption, greed and sordid selfishness. your thoughts on that. >> oh, absolutely. and i thank commissioner vincent for what he said there, and i think it makes perfect sense. we love baseball in the state of georgia. i'm a lifelong braves fan. but more than just baseball, we love free and fair elections,
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and that's what we've got now. i thank the legislature for doing just that. baseball, this is just pathetic what they have done. and all the while the commissioner of baseball in new york state where if you compare the voting process in new york to georgia, you find that we have much better voting regulations in the state than they do in new york. it's just ridiculous. david: congressman, i want to switch gears on another subject. transportation secretary pete buttigieg earlier suggesting that it doesn't matter if biden's $2.25 trillion infrastructure plan actually lacks a lot of infrastructure. listen. >> i can't imagine why somebody would say, well, yes, i'm for broadband, we should definitely have rural broadband, but i'm going to vote against it because i don't think it meets the tradition aal definition of infrastructure. if it's a good policy, vote for it and call it whatever you like. david: what do you make of that, congressman? [laughter] >> yeah. an infrastructure package should
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not include infrastructure. less than 5% of this is going towards bridges and roads, are you kidding me in i think it's ridiculous. this is a total waste here. all this is is the democrats trying to advance their green new deal agenda. look, we do need infrastructure in this country. we need a good infrastructure bill. 25, maybe 30% of this bill is needed and makes perfect sense. but the rest of it is a total waste. and it's nothing more than them trying to advance their green new deal agenda. david: congressman carter, good to see you. thank you very much for coming in. appreciate it. >> thank you. david: well, the administration's taking a look into what their options are when it comes to canceling student debt, and we are digging into who would benefit the most from all this. blake burman joins us from the white house. hi, blake. >> reporter: hi there, david. the urban institute took a look at the more than $1.5 trillion of outstanding student loan debt across this country, and here is what they found at least back in
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2016. according to the urban institute the, about a third of all outstanding student loan debt held by the top quarter of income earners. but when you look at the right-hand side of the chart, you can see the top half of income earners hold about two-thirds of all student loan debt as well. however, data also shows lower income earners, excuse me, hold just about as much student debt as those who make six figures. those who make up to $97,000 hold on average about $34,000 in loans. those who make in the low six figures don't hold significantly more, roughly $41,000. meantime, here in washington the issue of canceling student loans is one where democrats are not all on the same page. top leaders like chuck schumer and elizabeth warren want up to $50,000 of student debt canceled. however, the white house says the administration is studying at this point to see what options could be put before president biden. but as of now, he is not willing to go that high.
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>> he'd welcome bills signed -- passed by congress, i should say, to cancel $10,000 in student debt, and he'd happily sign that. i think that would naturally be the first step before the larger amount be on there. >> reporter: so, david, if you're talking about potential costs, i'm sure you're wondering what that might be. up to $10,000 of student loan debt canceled, it's believed to be that that would add up to somewhere in the area of about $750 billion. and -- 375 billion. and when you raise it up to that $50,000 billion, somewhere in the area of around a trillion. david: i know we were going to hear the t-word once again. trillion is the new billion. blake, thank you very much. back to the voting law debate. as nba legend charles barkley slamming politicians for what he calls race baiting. listen. >> man, i think most white people and black people are great people. i really believe that in my heart. but i think our system is set up
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for our politicians, whether they're republicans or democrats, are designed to make us not like each other so they can keep their grasp of money and power. they divide and conquer. david: meanwhile, jason riley of "the wall street journal" writes in the journal that he thinks democrat politicians are stuck in 1964 when it comes to how they treat african-american voters. so should we be worried that the president's policies could be setting minorities back economically? let's get the read from political strategist test land figaro. good to see you, thank you for being here. what do you think of charles barkley's statement? >> well, i think charles barkley's statement is basically charles being charles. [laughter] the bottom line is there's certainly voter suppression. when we talk about the argument that those who are poor do not necessarily have the access to be able to get the documents, if republicans certainly want to
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believe that everyone should have an id, then let's talk about how we can put those resources in the community so that they can do so. but the more important thing is voter depression, giving folks a reason to vote and motivating them to go to the poll. that is what most folks like me, you know, are concerned about. people are certainly -- will certainly get out to vote if they have the motivation to do so, and that is why joe biden now is being challenged from those within the democrat party to deliver on his promise and student debt being one. david: on your first point, the georgia began politicians would -- georgian politicians would tell you if individuals are not able to get a photo id, about 200,000 of voting age who don't have a driver's license, they could go to the state and get an id for free, a photo id. they could also use their bills as proof of residence, their gas and electric bill or other means. and here's what, here's what jason riley said specifically.
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we put it up on the screen briefly. let me put it up again. why treat the black electorate like helpless children? it's clear when blacks are sufficiently motivated, they have little trouble meeting the same requirements that other groups meet in casting a vote. and, in fact, he goes on to point out that blacks voted at a higher rate than whites did in 2008 and 2012 despite supposedly racist laws back then. of course, you talk about motivation, they had the motivation of voting for the first black american president, and that was a big motivation. so what do you think of what jason said? >> well, it's two parts to it. this is not just one piece of the puzzle. one is, yes, folks need to be motivated by policy, not just because it was the first black president, but policy. but secondly, it is real easy to say that, oh, yeah, it is so simple. just go down, show your paperwork and get an id, it will be free. studies have also shown that
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fees are associated with getting those documents that you need, for example, social security cards, birth certificates and so forth. so it's not as easy as people think. those of us like you and i that use our id and have access to get an id, you know, it's certainly easy for us, but that does not apply when we talk about our elderly who vote in substantial numbers and those who are poor. so if it was, you know, not a big deal, then why is so much legislation being passed now to suppress those votes? so i think it's a balanced conversation that we both need to have on both sides of the aisle that includes voter suppression as well as voter depression. both do apply -- david: but, in fact, how do you deal with the fact that we had blacks voting at a higher rate in 2008, 2012, and then in the pew research center found that in a 2018 midterm when, of course, president obama was not in the race, all major racial and ethnic groups saw historic jumps in voter turnout? so it didn't hurt in 2018, why
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should it hurt now? >> well, it's not about how many black people vote for joe biden -- i mean, for president obama. it's about access for all black people to vote -- david: yeah, but this is in the midterms in 2018 when president obama wasn't in the mix. >> yeah, regardless -- david: why regardless? >> well, because regardless, like i just said, it's not just about those black people voting, but all people having is access to be able to vote. and i pose the same question to you on the republican side. if they believe that black people can still get to the polls, why is it that a substantial the amount of legislation has been pushed through in the answer is because republicans lost. that's the bottom line. and i criticize the democratic party too, they have to move forward with policies so they can continue to win in 2022 and 2024, but taunt, this legislation was pushed through -- but at the same time, this legislation was push through because republicans lost, so they're doing everything to keep people from the polls. it's not hard to figure out --
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david: aren't the poorest people, the poorest businesses in georgia going to be affected the most by these boycotts? >> well, i'm glad you asked that question. i ran a business in real time, a staffing firm that went through the 2011 nba all-tar game, so i was -- all-star game, i can only speak from experience, i was able to challenge the nba as well as making sure my employees were taken care of while they were on strike and at the same time went back and negotiated a higher rate for those to be paid -- david: good for you. unfortunately, a lot of businesses we've been talking to are having a lot of trouble with it. we thank you for your opinion. good to see you here, appreciate it. well, president biden's plan to raise corporate taxes finding an unlikely supporter. amazon ceo jeff bezos. will more ceos take a stand? that's after the break. ♪ now i'm a believer. ♪ not a trace of doubt in my mind. ♪ i'm in love, i'm a believer --
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pay for it. bezos says biden's proposed infrastructure bill will require concessions from all sides, that's his quote. this despite democrats routinely using amazon as an example of corporations that don't pay their fair share in corporate taxes. here now is brandon arnold, fox news contributor kristin soltis anderson. good to see you both. brandon, what is bezos up to? >> well, bezos is trying to cut a deal here. for amazon, they have been able to reduce their taxable income by taking advantage of certain components of the tax code, for instance, those that allow r&d expenses to be written off, capital expenditures to be written off. so for them, the corporate tax rate is important but not nearly as important as preserving other components in the tax code. i think that's why you're seeing bezos with the statement that he issued yesterday so he can focus more on r&d expensing, capital expensing and items like that that are problematic in the biden tax plan rather than --
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david: so this gives bezos a little political capital or arguing capital in order to come back and save some of the deductions that led to, i think amazon paid about 4.3% in taxes, corporate taxes over the past couple of years. but with those deductions in there, he might still do pretty well, kristin. >> that's right. and, frankly, when we talk about things like raising the corporate tax rate, the question is what types of businesses are going to be most affected. typically, when you ask americans if they support raising taxes on large corporations, a slim majority will say yes, but that is very different when that hits small and medium-sized businesses that don't have the army of lawyers and accountants that someone like bezos has at his disposal. david: the so-called pass-through companies, and many of those companies take their profits as personal income instead of corporate income, and they're going to be hit with higher personal rates as well. and, brandon, what about infrastructure?
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i mean, i'm wondering if perhaps bezos won't make out better in all this free infrastructure -- free, i put in quotation marks -- from the infrastructure bill than he would by just paying, so he'll pay a little more in taxes, but he gets all these extra millions of people tuned into his products online. that might do him pretty well. >> it very well may. and you've seen a lot of corporate support for an infrastructure bill. i think there's a need to address things like internet infrastructure, making sure people have access to broadband. of course we've already spent a considerable amount of money during the course of the pandemic to make sure people were connected while they couldn't access their offices in another location. but, sure, that infrastructure package is broadly supported by the corporate community right now. the channel for people that care about our -- challenge for people that care about the $28 trillion in debt that we've amassed is slimming down this package and only focusing on our core needs and not going bonkers like biden has proposed and
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sinking money in free college tuition for community college attendees and huge gifts for the labor unions and so forth. that's the real danger here for all companies, amazon included, i think. david: i want to switch something to jamie dimon is saying right now, he is bullish on the economy through 2023. he says, quote: i have little doubt that with excess savings, new stimulus saving, huge deficit spending, more qe, a new potential infrastructure bill, a successful vaccine, euphoria around the end of the pandemic the u.s. economy will likely boom. kristin, i'm sure it is going to boom in the short run or for the remainder of the year, but do you think it'll last through 2023? >> i think it's entirely possible. i know when we take a look at what surveys are saying, people are feeling very optimistic about the economy. there was a little bit of a shift in that view once trumped had left office because, as you
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recall a, many americans liked how he was handling the economy, and that dynamic was flipped for biden. they like him, but they don't know how he's going to do with the economy. as things roar back to life, you would expect them to go well. the question is will the biden administration roll back the policies that the trump administration put in place that enabled some of this economic boom in the first place. david: brandon, a boom right through 2023? what do you think? >> i'm somewhat bullish here. i think there's a good chance the economy could be in excellent shape. we put $5.3 trillion into this economy over the past year. that money's going to play out in the form of business creation and so forth once restrictions are lifted and the economy opens up. the biggest danger here, of course, like kristin said, is retreating on some of our tax policies that have enabled economic growth, and that's what we need to watch. so i think it's a little too early for this exuberance. let's see if we can keep corporate and personal income taxes low, the regulatory burden low, and if that's the case,
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then i will certainly agree with mr. dimon. david: it's going to be a tough fight. brandon and kristin, thank you very much. well,, more than 19,000 unaccompanied migrant children are in federal custody now. it is a real tragedy. fox news correspondent alex hogan is at the border with the details. alex. >> reporter: hi, david. we have an update that you're hearing, 19,000 children, a devastating number. we also have the story of one of those little boys and what he says happened to him. all of that coming up after the break. ♪ ♪ stay restless with the icon that does the same. the rx crafted by lexus. get 0.9% apr financing on the 2021 rx 350
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new video from the border. a young boy sobbing, begging for help saying the group he was with abandoned him alone in the desert. meanwhile, another delegation is visiting the border to get a firsthand look. fox news correspondent alex hogan is live in mission, texas, with the late. alex. >> reporter: hi, david. more than 19,000 children are unaccompanied at u.s. facilities, but it's really their individual stories that hit home making us picture children that we know that age, picturing them in those kinds of situations. again, this is a look at that heartbreaking video of this little boy who approaches border agents asking for their help saying he was abandoned by the group that left him, saying he doesn't know -- if he doesn't go with them, where else would he go? a special envoy to the northern triangle will return tomorrow after talks about the root causes of these migrations and strategic planning on how to curb the number of refugees. there is a makeshift processing
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center here to accommodate the number of migrants surrendering here in the south to border patrol. and they're asked their age before getting transferred either to a center or taken back across the border under title 42 which is a health protocol during the pandemic. back here live with to our fox flight team, this is a look at an unfinished section of the wall, critics are calling for the administration to finish this wall to curb the possibility of more illegal crossings. >> at night when they go to sleep or go to work, who leaves their doors unlocked? i don't know anybody that does that. why would we leave our nation open for immigrants to come in? >> reporter: meanwhile, this is not the real border. it's the river, the rio grande, just about a mile behind me.
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we're hearing of a boy the same age last week who was traveling to the u.s. with his father. they decided to swim, but the father drowned trying to get his boy to safety. that father died in the journey, just showing the devastation of all of these stories that we are seeing on our time reporting here at the border. david: imagine the trauma. that's just heartbreaking. alex, thank you very much. well, homeland security secretary alejandro mayorkas reportedly considering filling the gaps in the u.s./mexico border wall that you could see in alex's report. reaction from florida republican congresswoman who joins us from mcallen, texas, right near the border there. congresswoman, let me ask you about these personal tragedies. i mean, how can you look at 4 and 5-year-olds being dropped over the border fence, left to their own defenses in hostile country, kids wandering in the desert who have been left
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behind, another child whose father was drowned to death and now is alone in this country, how can you not call that a humanitarian crisis? >> well, you just can't. and it's unconscionable, what i have seen here in the last 48 hours here on our southwest border. you know, the fact that this administration if refuses to call what is happening here a humanitarian crisis, a national security crisis, i just simply are don't have the words. i visited the donna facility yesterday, and i saw young children 3, 5, 6 and older, and they have been abandoned, essentially. it is unconscionabling. i spoke with a girl who came here from guatemala. it took her 17 days to get here. and she was having trouble communicating, her voice was so hoarse. it was because she had lost her voice screaming because she had been gang raped. this was a 14-year-old girl. david: extraordinary. >> it is horrible.
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it is unconscionable. and in america today, if you are a cartel member, it's a great day in america because you are making so much money off of the backs of these children. and if you're 6 years old and younger, you are being trafficked back and forth across this border. i have zero faith in this administration. the lack of action that they have taken, i cannot in good conscience call president biden commander in chief. he is the trafficker in chief at this point. david david well, some of the actions that they actually have taken have been puzzling, if not worrisome as well. like, for example, when ted cruz was trying to photograph the facility inside, we saw the minder come by and try to prevent a u.s. senator who was there to try the fix things or try to help things in the any way he could getting pushed away from taking pictures of what was really going on there. did you encounter any of that when you were in the facilities? >> so we went through all the facilities, we also visited an actual bridge where underneath,
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outside they have set up construction barriers to process folks, and they've asked us if you take photos, please don't post them. and as i was speaking with a border patrol agent, a group of unaccompanied minors walked up to us out of the brush. it was unbelievable. i have never seen anything like this right there on the border, they just walked up to us, and they knew that they would be processed. and what we are seeing here is just unreal. the american people need to see what's happening inside of these facilities. facilities that are completely overrun, meant to house maybe 200, they're housing 5,000. yesterday was another record-breaking day. they picked up over 3,000 that just came across. but the thing that was terribly heartbreaking to me was last night about midnight i was standing on the banks of the rio grande river, and i had night vision goggles looking across. and the cartels were dropping people off pointing, and if you' them, they're pointing saying go across here, the border patrol agents will process you.
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but they were basically harassing us, calling us names, making jokes, saying you can't do anything. and it's true because this administration has tied the hands of our men and women in uniform trying to protect our border -- david: and also, i mean, the empowerment of these heartless cartels, the ones who are dropping off kids in the desert, has to be dealt with somehow. congresswoman, we're going to have to ask you the next time about whether or not they're going to be finishing up some of those walls that are being broken through, but we appreciate you joining us today. thank you very much. coming up, governor jenner? olympic gold medalist and tv reality star caitlin jenner is reportedly considering a run to be the next california governor. we're going to tell you more about that right after a short break. ♪ ♪
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♪ david: here's some breaking news, caitlin jenner reportedly considering running for california governor as a republican challenging gavin newsom who's facing a likely recall election. axios reporting to olympic gold medalist and reality tv star is now talking with political consultants about all of this. william la jeunesse live in l.a. with the latest. >> reporter: california's never had a governor who identifies as female, but, you know, being a celebrity can't be minimized especially in a recall election where fame and name id can outweigh policy and party, and jenner, of course, has a very unique story that transcends politics. >> hello, my fellow republicans. yea. [cheers and applause] it was easy to come out as trans, it was harder to come out as republican. [laughter] >> i've been willing to make the changes -- >> reporter: a recall
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election, you know, is like an election in freefall really, david. rules go out the door. in 2003 we had 135 candidates on the ballot from arnold schwarzenegger to actor gary coleman, arianna huffington the, almost anyone with a handful of signatures and a few thousand dollars. jenner doesn't have the celebrity of schwarzenegger, she identifies as a fiscal conservative, socially liberal, but she can claim covers from wheety's to van -- wheaties to "vanity fair." she lived the pop culture life, came out as a trans woman and starred in another show that focused on gender transition. last month she appeared on the masked singer, here she explains why. >> i think it's important that you stay visible. i want to show people that even no matter who you are, what you are, what time in life you do this, once you get through it, that there's a light at the
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other end. >> reporter: as for the recall right now, the state is counting signatures. an election is likely in the fall. nothing's guaranteed, the state faces a serious drought, another season of wildfires and possibly blackouts. the big question, you know, is to democrats put all their eggs in one basket behind newsom, dismiss the recall, or do run someone like billionaire tom steyer. otherwise, david, they leave a field of republicans including maybe jenner right now to get into the recall election all you need is about four grand. most people choose the money. david: interesting. it was easier to come out as trans than it was to come out republican in a state like california. william, thank you very much. state department officials now denying that the u.s. has spoken with our allies about a
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joint boycott of the 2022 beijing olympics. fox news correspondent rich edson with the latest on this from the state department. >> reporter: good afternoon, david. there's an awful lot of criticism now on some popular brands that are sponsoring and supporting the olympics next year in beijing. the list of corporate sponsors and partners for the 2022 olympics include companies like general electric the, toyota and intel. that list also includes coca-cola and dow which have joined in criticizing voting laws in the united states. just as the state department released it human rights report detailing this on china's campaign against minority muslims in shenyang, quote: numerous reports of arbitrary killing, forced disappearance and torture by government agents as well as systematic use of imprison. , harsh and life-threatening prison conditions, hundreds of political prisoners and detainees. we asked the state department whether american companies, many that are weighing in on domestic
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issues right now, should also scrap their participation in the beijing games. >> i'm not going to offer advice to u.s. companies from the podium. what i can say is that when it comes to issues of, an issue of the beijing olympics, that's something that -- our allies and partners. >> reporter: china's government says the boycott effort runs counter to the spirit of the olympic if games. the state department also clarified its position on what exactly it's talking to its allies and partners about. the state department, a senior state department official saying that the government has not, nor is not discussing a joint boycott with allies. it is, generally speaking, talking about china's government's behavior with partners and allies. david: hard to find clarity in their position. thank you very much, rich. appreciate it. after the break, why a new instagram platform for children is not getting many likes from members of congress.
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yeah, what could possibly go wrong with that? we'll be right back with details. ♪ ♪ ooh, i'm blinded by the light. ♪ no, i can't sleep until i feel your touch ♪♪ ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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♪ david: so the results of the amazon union vote are expected to be released this week, and now small businesses are waging a new fight against the company. hillary vaughn has the very latest on all this. hi, hillary. >> reporter: hi, david. well, small businesses are hoping that there is strength in numbers in taking on amazon by lobbying lawmakers here on capitol hill to crack down on the company. a new coalition of business groups representing thousands of mom and pop shops across the country say amazon is the biggest threat to their business saying this, quote: amazon's stranglehold over online commerce is one of the top threats facing independent businesses. congress must enact legislation to break up amazon along business lineses and establish standards of fair dealing for its online marketplace. the groups represent small or hardware stores, office suppliers, booksellers, grocers
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and others. they specifically want amazon to be forced to separate its amazon brand products from its online marketplace saying amazon is forcing them to compete side by side on line when amazon has an unfair advantage. they have access to data and pricing that helps them, they say, undercut their third party competitors. but amazon says that's not the case disbelieving fox business -- gives fox business this statement, quote: sellers having the opportunity to sell right alongside a retailer's product is the very competition that most benefits consumers and has made the marketplace model so successful for third party sellers. amazon has also been accused of ripping off third party products that go viral on its marketplace by using that insider data to then build a amazon brand dupe and then sell that for a cheaper price side by side. amazon has denied this saying that they have rules that forbid
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their workers and employees from using this data to create these dupes, but jeff bezos testified on capitol hill to lawmakers that he could not guarantee that that rule had not been broken. david? david: very interesting. hillary, thank you very much. democrat lawmakers meanwhile, are pressing facebook for details on its new instagram for kids product. to the cow guy at ag optimist, scott shellady. what could possibly go wrong with instagram for kids? if. [laughter] >> well, you know, they've already had a problem with messenger, kids weren't able to get outside their lane. but, you know what, after a year of at-home school, you know, in front of zoom, i mean, is this what you could come up with to really enrich the lives of our children? how about go out and throw a football around, do something a little bit different. are there parents that are knocking down the door of mark zucker beg's house to get this -- zuckerberg's house to get this for their kids? i don't think so.
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if you do a straw poll, they're trying to take away screen time from their children, not add to it. i'm not quite sure there's a massive demand anyway, and if there is, it's probably not placed very well because this isn't another thing that we need for our children. they need to get out and about -- david: oh, absolutely. we've seen how fruitless our attempts to educate kids by zoom or anything in front of the computer screen, it just doesn't work. but what this really reminds me of, because the point here is that facebook is trying to inculcate a whole generation, a whole new generation of people into using their services. i mean, it reminds me of the cigarette commercials back when we had them decades ago that were oriented towards teenagers in order to get them hooked on the idea before they actually smoked. >> inculcate or indoctrinate, whatever word you want to use. look, it's not -- i just can't imagine, i know what they're trying to do, but are they filling a need or trying to create a need?
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i think we agree they're trying to create a need here. the parents i talk to are not banging down the door for new apps to get their kids in front of screens. they're trying to get them outside. david: absolutely. scott shellady, great to see you. thank you very much for being here, appreciate it. well, as president biden gets set to tout his spending plan, next hour why some experts are now warning the federal income tax rate could be higher than what's already planned. more "cavuto coast to coast" right after this. ♪♪ not everybody wants the same thing. that's why i go with liberty mutual — they customize my car insurance so i only pay for what i need. 'cause i do things a bit differently. wet teddy bears! wet teddy bears here! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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♪♪ david: and to the second hour of "cavuto coast to coast". i'm david asman in for neil cavuto. president biden delivering remarks on, quote, historic investments being made in the american jobs plan. the administration saying the tax hikes to pay for the plan are to make companies and workers more competitive. fox business' blake burman live from the white house with details. hi, blake. >> reporter: hi there, david. about 45 minutes from now we do anticipate hearing from president biden and laying out his vision or at least trying to pitch. the american jobs plan before the nation. already we are hearing democrats
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make their case for a big anded broad infrastructure package. for example, we heard this week from kirstin jill brant tweeting -- gillibrand tweeting, quote, childcare infrastructure, care giving is infrastructure. moments ago the commerce secretary, gina rah mondeaux, took to the podium -- gina rah mondeaux cited the needs for job training, shoring up the manufacturing supply chain, investing in research and development and more. for example, here she was on the need for a jobs plan to include caregivers. >> you might say to yourself why is the commerce secretary talking about investments in the care economy. because it matters. it is core to our competitiveness. in order for you to be able to go to work, you need to know that your loved one is being taken care of. >> reporter: now, the administration, by and large, is proposing to pay for this by raising the corporate tax rate. in '21, up to -- from 21 up to 28%. but the commerce secretary,
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david, certainly opened up the door a little while ago to negotiate that top line 28% number. listen here. >> there is room for compromise. that is clear. >> reporter: there is room for compromise, she says. however, just before this as well, david, the treasury department put forth its tax proposals to run counter to this american jobs plan, and here are just some of them. it includes, for example, raising the corporate tax rate up to 28%, strengthening the global minimum tax for u.s. multi-national corporations, enacting a 15% minimum tax on book income of large companies that report high profits and replacing fossil fuel subsidies with incentives for clean energy production. david? david: okay. and this is an incentive for business to grow. that's what is coming from the white house. thank you very much, blake. appreciate it. well, big spending in the big apple. our next guest suggests that new york governor andrew cuomo is attempting to one-up president
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biden when it comes to massive tax and spend approach. this as cuomo, of course, is trying to fend off a multitude of allegations and an impeachment push. joining me now is empire center for public policy senior fellow e.j. mcmahon. is the governor just trying to buy his way out of an impeachment here? >> well, i don't know. he certainly is giving a lot of ground to the people who are putting pressure on him from the legislature because the budget that the legislature's now in the process of passing with his okay is a huge spending blowout. it spends much more than he originally proposed this year. david let's be specific, $212 billion, that's the price tag of this thing. and just to put it in context, as a former guest said here, that's twice the amount of money florida spends on its budget, and florida's bigger population wise than the new york. so it's a huge amount of money. i've gone through some of the details. there's just, frankly, a bunch of pork in here.
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is this to be negotiated on, or is this the the final deal that we're talking about? >> no, this is the final deal, $212 billion, which is $19 billion more than last year. it's basically the final deal the governor's agreed to, and it includes a very large tax increase wrapped around, actually the, the first permanent increase in new york's marginal income tax rate since more than, since the rockefeller era more than 50 years ago. so it's a really huge spending increase, and the real danger is it's going to be -- it's a bridge to nowhere because we've got an enormous amount of federal stimulus aid; unrestricted aid, aid to schools, you name it. tens of billions of dollars. and this is going to basically build a bigger spending base for the future and lead to enormous budget deficits a few years -- david: just to put a fine point on it, not only is this a blowout budget or but people are
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forgetting that new york and california and other high-tax states, illinois, got a huge bailout from the federal government in the last biden spending bill, the $1.if 9 trillion. 1.9 trillion. so in addition to that you have spending, one would think that the money that they got from the feds would be enough, but it's not. now, on to the taxes specifically, we just showed some ways in which the taxes are going to be going up for the rich arest. 42.5 of all income taxes in are are paid by the top 1%, so they're already squeezing this 1% to the point where a lot of them are heading south to florida and texas. isn't this going to increase that tax go discuss? >> well, there's -- exodus? >> welsh there's never been a bigger, stronger financial incentive for millionaires to leave new york than they now have, and it's now going to be made bigger. and if what made it bigger still is we had, effectively, an automatic increase in our net
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tax rate in 2018 when the new federal tax law took effect which basically eliminated the deduction for state and local taxes which served as a big discount on the state's high marginal tax rates. now governor cuomo is doubling down on his insistence and what he says is his expectation that congress and the biden administration are going to restore the state and local are tax deduction for the benefit of high earners in states like new york and california. i think that's very much open to question. and even if that happens somehow, it would come at the price of much higher federal rates, and it would actually still leave us with a much higher tax rate at the top than we've ever had. david: well, so you're pricing a lot of businesses and wealthy individuals out of the state. your tax base is getting smaller and smaller. i mean, i know politicians usually don't see down the road, but in this case they're not even seeing down half a block. how soon will it take for new
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york to go bankrupt if this continues? >> well, it'll -- not -- [laughter] not soon enough. i mean, to paraphrase an old adam smith line, there's a lot of ruin in a place the size of new york. nothing's going to to go belly up overnight. what we're basically looking at is we're looking at ourselves getting locked into sort of a spiral of decline over the long term on the heels of a budget like this. that's the real, that's the real danger and, frankly, where we seem headed right now. david: it is a beautiful day in new york, but as you can see on sixth avenue, if you can put that shot back up, we still have i would say about one-fifth, maybe even one-tenth the normal amount of traffic and activity that you usually see in this city. and a lot of those people are not coming back. so i don't know where that tax revenue's going to come from. e.j. mcmahon, great reporting. thank you very much, really appreciate it. well, president biden's plan to raise corporate taxes finding
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an unlikely supporter, amazon ceo jeff bezos. now, he says he supports a corporate tax hike. but interesting to note that he made no mention of supporting higher taxes on high earners. here now is delancey strategies president jared levy and rebecca walser. jared, i'm just wondering whether or not bezos is, in fact, getting so much out of this infrastructure bill that has yet to be passed, of course, but a lot of it has to do with giving millions more people access to the internet, so-called frees access, that he's willing to the take a hit on corporate taxes. is that what's going on here? >> i think that's part of it. i think the bigger thing, right, is it's a p.r. nightmare. amazon has been billed as kind of the world's number one tax-dodging criminal, right in public enemy number one when it comes to, quote-unquote, tax dodging. biden even mentioned that. for amazon it's not just the
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spending in the infrastructure bill, but their structure, their complex, you know, very deep, you know, convoluted sort of balance sheet infrastructure allows them to massage things and adjust things whereas a lot of their competition that has more sort of straightforward earnings, they're not going to have that ability, right? if there's a straightforward tax hike, a balance sheet minimum, whatever it is, they're going to have less ability to adapt. so it's going to hurt, in my opinion, his competitors more than it hurts him. and, obviously, they're already in a good place. it's kind of both of those things. david: rebecca, you have some strange analyses being done, but the wharton school of business sort of defies its sense of what business is and what motivates businesses. they came out with a report that essentially the corporate tax hike that is being proposed by biden would have little impact on business investment. in fact, they go on to say that it would actually reduce u.s.
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debt 6.4% over a course of 30 years. do you really think it's possible to spend this much money, to raise taxes and actually reduce the can -- the department9? >> no, david. and if you look at janet yellen this week, she intentionally put out a feeler to say we are going to be going globally and talking to other leaders of foreign nations to get their corporate tax rate up because they know that the rest of the world's at 25. if we go to 28, we're going to lose multi-national corporations to other tax havens. so she's saying that we don't want a race to the bottom, let's get everybody to raise their rates. but if they don't, david, and a lot of them won't, then they will leave america because they can the as multi-national corporations. and bezos, i think, what bezos does and what his company does very well is they leverage tax, you know, credit with alternative energy investments. so they are really big into
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projects or research and development into alternative energy which they get a lot of tax credits for, and they're allowed to do that under the tax code. but if you think that businesses aren't going to look at the united states as a tax problem when you go to 20%, that's ridiculous. it's not going to happen. and i don't understand this rewriting to fit this administration, it makes no sense. david: jared, no matter how much soft talking janet yellen does to the rest of the world, there's going to be some country out there. you know, of course, ireland was a great tax haven when we had a tax rate over 30%. theirs, i think, was in the teens. some country's going to realize that if they want to attract a lot of businesses, they lower their tax rates. they're not getting too much from it anyway. instead of raising the tax rates as janet yellen wants them to do. >> it's really hard, david, listen, we're till in the -- still in the middle of a pandemic. the reality is there's a lot of countries out there that are
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suffering. so you said it, you go to a potential partner or ally and say, hey, you know, why don't you go ahead and step up and raise your rates. wait, wait, wait, we're struggling here. we're trying to attract new business, trying to get people -- and janet yellen, she loves tax hikes. if you look back on her sort of background, she likes tax hikes, talkses about reducing the deficit, that's the way she would do it and also retirement spending. janet yellen is very good at what she does in terms of policy globally, i don't know that it will have much of an impact. people protect their own kitty, right? david: you know, the simplest rule in mixes is a sentence with only two words, incentives matter. incentives matter. [laughter] and if you provide disincentives, they matter as well, unfortunately that's not good for business. thank you very much. good to see you both, appreciate it. straight ahead, our own edward lawrence speaking with small businesses in georgia who are feeling the economic sting
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from the loss of the all-star game. a live report right after this. plus, you won't want to miss this, dr. alveda king, one of our favorites, weighing in on the latest fallout in georgia after the america lb all-star game -- mlb all-star game exodus. that's coming next. ♪ sitting around crying with a broken heart. ♪ this gun's for hire even if we're just dancing in the dark. ♪ you can't start a fire worried about -- stay restless with the icon that does the same. the rx crafted by lexus.
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this is a limited time offer, so go to aerotrainer.com to get the body you want with aerotrainer. act now! ♪ david: a live look at truist park in atlanta. this, of course, is where the atlanta braves play. business around the park were hoping to cash in from this year's all-star game, now they're grappling with huge losses. edward lawrence, how much money are businesses going to lose from this? >> reporter: it's not just the direct impact, it's that money that comes from people coming in and spending here. you know, it's a gut punch, disappointing. those are the terms i've heard from business owners about moving the game over to colorado. this is manuel's tavern, lunchtime here. the owner had planned a bun bunch of activities leading up to this game, but it's not just
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restaurants. i talked with the owner of atlanta rx, it's a cbd shop, and he says that he's looking at an economic impact. listen. >> according to our analytics, about 10% of our business is from out of town. very touristy area, and we definitely will be affected by the all-star game moving to colorado. >> reporter: are you disappointed? >> yeah, very disappointed. >> reporter: and the cobb county travel ask tourism board says the area will lose $100 million for the week. major league baseball also reserved more than 19,000 hotel rooms that will be up used, and those people would have eaten at restaurants, bought stuff at the stores and could have possibly come here to manuel's. >> what it would have been and what i was hoping it would be would be our first truly measurable profitable day since covid. and i was looking forward to the
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beer company participation with the, you know, the promotions and all the signage all over the city, and, you know, city pride and that kind of stuff. and to have it just seeming, you know, just in a matter of days just have 'em pull it out just crushes you. >> reporter: now, among all the boycotts one of them, at least one group is asking to boycott the masters which starts on thursday. "the wall street journal" reporting we did hear from the chairman of augusta national golf club. he says that no one should be disadvantaged when it comes to voting, but he believes that his opinion should not shape discussion on this issue. back to you, david. david: edward, thank you very much. we're joined now by dr. alveda king, a former legislator in the georgia house of representatives. she is the niece of dr. martin luther king jr., and we're always proud to have her on our show. good to see you. thank you very much for being here. now, jim crow on steroids is how
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president biden has described this new voting law. you remember what jim crow was like, and you certainly were taught all the details about it from your family. does this bear any resemblance to jim crow? >> david, i am 70 years old. i am the daughter of reverend alfred daniel williams king who fought with his brother, reverend dr. martin luther king jr., their dad guiding them and, certainly, god guiding them. we fought for voter rights. now, we never denied that all not need identification when you registered to vote or go to vote, that you would need a reliable source that would prove that you are a citizen of the united states. we fought to be recognized and acknowledged as citizens of the united states with the right to
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vote. that's the prologue that we were fighting against. now that we are citizens, my id, my right to vote should be valued. i have that today. that is what we were fighting for. today, now people are saying -- those who are calling these actions jim crow -- you don't need identification, you should live anywhere, you could come from anywhere, you can mail in your vote, all of that. but it takes away what we actually fought for to be recognized as equally recognized as citizens of these united states regardless of skip color. david: right -- skin color. >> we were fighting to be oned blood, one human race. that's not what's going on today, david. david: but you have the president of the united states calling people who support this law that does require identification, but identification that you get for free from the government or you could use your gas and electric
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bill or anything, he's calling that jim crow. he's calling people who support it racist. and yet he's a guy who came in saying he was going to be the great unifier. does race baiting equal anything close to unifying the nation? >> president biden is very adept at race baiting. he and all of his cohorts and colleagues are. if you throw skin color into a discussion and you step on the emotions of people who have fought to be considered equal in these united states, then you're going to immediately get support and confusion for that position. he is not telling the truth. voter identification is not voter suppression. david: right. >> he knows that, but he's relying on the emotions of the people who have been downtrodden for so so long to be so disturbed and so outraged that they will not see and hear what is really going on. david: let me just ask since you were in the legislature, if you
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were still in the legislature, would you, the niece of martin luther king jr., have voted for this new voting law? >> i would have voted for the new voting law. i don't believe it solves everything. to me, a little bit, it's a little bit too late. they should have done something before the last election, honestly, because so many irregularities and so many strange things happened. and yet something must be done. is so, absolutely, i would have voted for it. but i was excited for it long before this point. as a matter of fact, for the last several years i've been asking people to deal with registering people to vote. i have run voter registration the efforts myself through the years, and i till do. i encourage -- i still do. i encourage people to vote. i ask people to vote for life, liberty and the pursuit of happiness from the womb to the tomb. i'm very clear on that. so i am a champion of voting rights. i have fought for voting rights. and so i know that they are very important, and we are not
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supporting voter suppression by any means. david: all right. i want to move on to another subjects that i know is near and dear to your heart, and that's attendance at religious ceremonies that have been really thwarted by the pandemic. in calgary, canada, police are facing a lot of backlash for busting in and trying to shut down a good friday church service because of covid restrictions. they did not succeed. here's what happened when the pastor of the church confronted the police. listen. >> it wasn't like -- when those police officers showed up at my church, everything kind of came back to life from my childhood. and to the the only thing -- the only thing i could do to fend off the wolves as a shepherd, and i used my voice to get rid of them. i was a little bit shaken, but i did want every shepherd right now on the planet should be doing, fend off the wolves. we as lions should never bow before the hyenas, and that's
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what they are right now. david: he is from poland, and he grew up in a communist environment. he said he's not going to let that happen now. what do you think of his confrontation with the police there? >> i watched the video confrontation. i fully agree with him. to me, some people say we're in battle and we're fighting good against evil. well, good has already defeated evil, and we just testified to that last weekend. jesus christ has won the victory as far as i'm concerned. so i am in occupation. i'm occupying the kingdom of heaven right here, right now. and that's what that pastor was doing, and he was, like, get out, no, don't come back unless you have a warrant. he was well within his rights. we do have to stand up peacefully, nonviolently. and however, we have to fight for our religious freedoms. we should not suppress other people's right to believe what they believe, but we should not allow our religious freedoms to be taken away from us.
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so i absolutely applauded his actions. i was very encouraged by it, by them. he was nonviolent. and yet he was very, very stern and within the law. david absolutely, yeah. >> the he should have done that. david: firm, within the law, and he succeeded in getting them out of his church. alveda king, always a pleasure to see you. thank you so much for coming in again, appreciate it. >> thanks, david. david: coming up, cbs doubling down, defending its report on gop governor ron desantis despite backlash from officials in both parties. i'm going to have the very latest for you next. ♪ ♪
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♪ david: welcome back. doubling down, cbs is defending its "60 minutes" report on florida governor ron desantis saying in a statement, quote: as we always do for clarity, "60 minutes" used the portion of the governor's over 2-minute
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response that directly addressed the question from the correspondent, end quote. this of after ron desantis said the edited clip that shows, quote, a reckless disregard for the truth. and he's not the only one who said that, some democrats did as well. here now is the hill's media columnist and fox news contributor joe concha. joe, first of all, what do you think of the statement from "60 minutes"? >> i found it to be limp, david, quite frankly. so you're cutting out the most key part of the story. the protagonist of the story, rob desantis, saying for clarity. ah, okay. because in that answer, david, ron desantis, the governor of florida, republican, laid out why publix was chosen to lead the effort as far as getting the vaccine to the elderly. very good reasons, by the way, that would have been nice the hear in the report such as publix is in more than 800 locations in the state. if you are a senior, 90% of you in that state live within a mile and a half of a publix.
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also, cases in florida since the beginning of the year for those over 65 are down 80%. so the strategy appeared to be working. and instead, cbs, "60 minutes" -- again, around for 50 years, right? they're not a rookie. it's not like you had the internals editing this particular segment. they know what they're doing. and in this case they deceptively kept that part out because that destroyed the narrative. and to your point before, you have democrats, how often do we see this, democrats defending a trump-supporting governor of florida who may be the 2024 gop nominee vigorously. even palm beach county mayor, he said that not only did "60 minutes" get iting wrong, dade, but it was intentionally false. so this was something that happened for a reason, again, to push a narrative to smear a possible presidential candidate in 2024 that would have a real shot of winning if he gets the nomination. david: joe, i don't know if you
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can hear me, i was trying to stop you because of the fact that we have a sound bite from dave kerner who is the palm beach mayor. let's just play that for the audience. >> he didn't come to you with the suggestion of publix, you gave that suggestion to him. >> in essence, that's exactly what happened. i asked the -- i asked, the governor delivered. i told "60 minutes" all of this. when i say intentionally misled, that's my predicate, you know? to intentionally not include my comments as the guy in the room with the governor, that made it, to me, an intentional misleading of the public, and that i won't stand for. david: that's the charge. does that evidence back up the charge? >> it appears to, david, because when you think about it -- and i'm sorry i didn't hear you before, my sound, earpiece is a a little low, apparently. look, the charge is pay to play, okay? so if that is the case here,
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over $100,000 donation to ron desantis' pac from publix. well, how does that explain why publix would ever donate to joe biden or bernie sanders? not mentioned in the piece. and also we're supposed to believe that $100,000 to a pac buys you access and buys you the sitting governor of florida who, as i mentioned before, has presidential aspirations? if he gets that nomination, david, you're talking about him raising somewhere around $2 billion if he wants to become president. so, yeah, he's going to be swayed by $100,000? you either believe that or you believe that publix was the best choice here because axios did a poll just in 2020, david, where it found that publix is the number one most trusted company in the country. and then you look at also that alabama, georgia, south carolina, texas, virginia are also using publix to get the vaccination out. that wasn't mentioned in the piece as well, and that's why not many people redefending "60
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minutes" that normally would because they know this was one of the worst probably reports they've done since 2004, george w. bush national guard service. dan rather, got him fired. they're not backing down here. seems to be a theme. don't back down, don't apologize. david: very quickly, we had former miami marlins' president dave sampson on with his take, he says mlb commissioner manfred was basically forced to get the game moved. listen to this quick. >> i believe the players said through their union if there's an all-star game in atlanta -- we may not know anything about the bill, we're not talking about the truth of what is written. however, we're not going. we're not going to play in the all-star game, and then you had white players who joined the black players, latino players who joined the white players and the players. what do you do if you're commissioner? you've got sponsors you have players who aren't going to
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play, therefore, you really have no choice. david: what do you make of dave's description of what went on here? >> i think the commissioner absolutely had a choice. listen, david, 2016 23 million people watched the world series. last year less than 10 million. 60% of the audience gone because the sport has become so so political, and the escapism has been taken out of it. the precedent is now being set that in georgia, i saw one "usa today" columnist argue that the nfl should argue and declare that the super bowl never be held begun in georgia or the nba all-star game or the s everything c championship or the final four -- sec. that will extend to florida, it can -- texas as well. these corporations should fight instead of folding in these situations because now this is going to be a thing every time a major porting event -- sporting event is held in a red state. david: joe concha, thank you very much. meanwhile, did you know the
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cost of ammo is surging, and there is a nationwide ammunition shortage? grady trimble is live in taylor, michigan, with the details. how is law enforcement dealing with it? >> reporter: well, they're doing the best they can, but especially smaller police departments like this are being hugely impacted by this. the pandemic, civil unrest and fear of stricter gun control laws, all of that has led more americans to buy more guns, and it's also caused an ammo shortage combined with the fact that factories were shut down last year. to give you a sense of the price, a box of 50-round ammunition used to cost around $15 before the pandemic. now it costs about three times that. and chief john blair knows the problem firsthand because he's dealing with it. you've actually a had to cancel firearms training and state-mandated practice for your officers because of this. >> that's correct. lack of ammo has hit us dramatically. we're really concerned about not only our officer safety, but the community we serve as well.
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>> reporter: you're a steward of tax pay your dollars -- taxpayer dollars. this could become a public safety issue if your officer ors aren't able -- officers aren't able to get the training they need when they go out into the field. >> it has trimmed our budget cost on ammo -- tripled, but what i'm concerned about is the safety to our officers and the public. and is we can't make mistakes. much of our training is not only learning about shooting, but when to not shoot. >> reporter: you've already canceled some of this handgun training. you can't skip it forever. >> no, absolutely not, and that's why it's so important that we get these ammo budgets in line as well as the supplies. >> reporter: certainly a big problem, david, as i mentioned especially for these smaller police departments that don't order as far out in advance as the major metro departments. david? david: thank you very much. appreciate it. well, president biden is about to make remarks on the american jobs plan. if he takes questions from reporters, we will bring that to
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you live. we're right back after a short message. ♪ ♪ n 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. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪
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♪♪
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♪ david: new york governor andrew cuomo and state lawmakers reaching a deal on the state's new massive budget which includes about $4 billion in new taxes, and charlie gasparino is reporting the business community is not too happy with the governor right now, right? >> yeah, david. we should point out that he went through -- even through all the controversy that governor cuomo's faced over new york nursing homing deaths, over covid, funneling the numbers on that -- fudging the numbers on that, the allegations of sexual harassment, the business community was essentially still behind him. they believed he was a firewall against the left-wing progressives that run the state and the city right now. mayor bill deblahs owe. he would -- de blasio. he would put a lid on raising taxes particularly if he got a
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bailout from the government, and they thought he was, essentially, the guy they could count on to bring some sort of normalcy back to new york politics when we come out of this pandemic, as we come out of the pandemic and the lockdowns. but this budget deal has really thrown a sort of monkey wrench. into that relationship. sources telling the fox business network that business groups right now, major business leaders have voiced their displeasure to governor cuomo about the massive tax increases on this deal. and what they believe is unnecessary tax increases, david. new york city is not in need of more taxes. new york city got bailed out by the federal government, in large part, so did the state. there's no need they believe, to raise taxes, particularly in this business environment because of the pandemic. and they're likely to pull their support. you know, it's interesting, why did governor cuomo agree with the progressives?
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well, maybe he sees short-term gain, that if he can satisfy the progressive base, maybe they might not move to impeach him. but he did lose his supporters, and from what i understand, david, the people that are going to benefit from this will be andrew yang, ray mcguire -- not running for governor yet, running for mayor. but you can see the business community, from what i understand, is reaching out to them, major businesses in new york about cultivating them because they've both come out against tax increases in this environment. very interesting what's going on. by the way, when you have no friends, you're usually out of office. i don't know if this was a good move for andrew cuomo. david: yeah. there's also rumors that mayor giuliani's son might actually run for governor. you're right, he's losing his support left and right here. he's trying to buy his way out of an impeachment, but i don't know if this'll help. charlie, thank you very much. coming up, a look at the real
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estate scene in hot spots like florida and texas. ♪ ♪ this has gotta be a good life -- ♪ gonna be a good life, a good life ♪♪
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[laugh] dad i got a job! i'm moving out. [laugh] dream sequence ending no! in three, no! two, keep packing! one.
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♪ david: if you're traveling and looking to rent a car, you better look hard. car rentals are surging right now, and a lot of companies don't actually have enough cars to keep up with the demand. lydia hu is in paramus, new jersey. what's causing the shortage? >> reporter: hi there, david. it's an increase in travel coupled with limited supply of the car rentals, and that's compounded by the limited shortage, limited availability, rather, of conductorships. right now if you search for a rental car at a lot of destinations, you might come up with nothing. auto slash.com is saying they're not available in airports across florida, hawaii and phoenix and tucson, even savannah, georgia. usually car rental companies buy
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their fleets of cars at a discount, but that has been limited by the constructer chip shortage -- conductor chip shortage. some companies scaled down over the last year during the pandemic as demand waned, and that's producing the limited availability that we're seeing now. listen to this. >> prices are at historic highs right now both for new and used vehicles, and the chip shortage is one with of the primary drivers there. the manufacturers just can't seem to get enough to meet the demand for both consumers and fleet sales. >> reporter: now, the high demand is expected to last for several months, and the effects will ripple from the destination cities to across the country. experts say reaching even the northeast. so experts are passing along some tips to consumers who might not -- need to rent a car, book early and steer clear of the pre-paid rates that are not flexible when it comes to
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travel. also consider widening your search from just airports to even neighboring locations away from the airports. and finally, join the loyalty program because if there's one car left and, david, it comes down to you or someone else, you might get it if you're in the loyalty program. david: good advice. thank you very much. well, the covid-19 pandemic, higher taxes and rising crime seem to have accelerated migration. a new study showing that americans fled urban areas for the countryside, for sup belt states. the report -- sun belt states. fining relocations to texas and florida jumped by 32 and 46% respectively. joining us now is national housing conference ceo david duarkin. of those three things, the pandemic, crime and high taxes, what do you think is the most important factor in driving this exodus? >> thanks for having are me. there's no question, the biggest
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factor is housing price. and people are tiredded of paying -- tired of paying too much for their housing, and they have realized as a result of the pandemic that they don't want to go back to that long commute. and so they're looking for places that have more size and a better commute. and they're willing to move out of state or out of an area to get there. we're seeing housing prices go up all over the country in areas that are not traditionally high-cost markets. over 20% in cities like memphis and cincinnati, even newark, new jersey, and tulsa, oklahoma, are seeing significant, double-digit increases in prices. this is definitely something we're seeing, and in cities or areas like the bay area, this is a longstanding problem. we've made it way too expensive to build, the regulatory burden is too high, and the result is that people just can't afford to live there anymore. david: well, and right now -- i can only speak for new york, but
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you see the prices, the bottom has dropped out of the prices in new york city. so, clearly, that anticipates two things; one, that -- indicates two things, one that prices were probably too high going into the pan dem ic, but when you look at all the things that have happened since the pandemic, the crime going up, questions about whether you have to be in an apartment, in an office building, an expense i office building, all of those issues have conspired to put -- i don't see a bottom to the real estate market dropping in new york, do you? >> i think there will be because the jobs aren't leaving. and so that is a big factor. definitely housing prices were super inflated there. but i think it's also important to remember that we have to build more housing that's affordable to more people. there isn't enough low income housing, but there isn't enough middle income housing either,
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and as the baby boomers continue to age into family growth, they're not going to be happy to live in those small apartments income, and they're going to be looking elsewhere. david: let me just talk about florida and texas for a moment because, again, people were partly moving there because the prices were much cheaper, but they have been going up quite a bit. i've been pricing some real estate in florida, and i've been surprised to see how quickly prices are moving up there. >> well, that's absolutely right. and i meant to say millennials. the law of supply and demand is never repealed. and when you have more demand and you're not building enough supply, you're going to see prices go up wherever you are. david: so what is the bottom line? how much longer will this migration continue? >> i think that housing prices are going to have to stabilize, and the way we're going to do that is by building more housing. and to do that we've got to look at some of the zoning that we have in place. the bay area's a perfect
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example. we have to look at developer fees in the bay area and also in many parts of florida. there are very high developer fees. before you even stick a shovel in the ground. david: right. >> and lumber costs are another big one. david: up 200% right now. >> 200%. david: good to see you, david, thank you very much. a quick market alert, shares of tesla dropping after a report saying the electric vehicle company's delaying deliveries of its new model s and x cars. we've got more on that when we return. ♪ ♪ sic) ♪ ♪ ♪ ♪ . .
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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. ♪
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and i get to live in this beautiful house, with this beautiful kitchen, and it's all thanks to sofi. ♪ david: charles payne is here to take you through the next hour. charms, you know what i have in my hands? duck eggs. not chicken eggs, duck eggs. the brian the stage manager sold me a carton. i will go home and cook my duck eggs. charles: i have to hurry getting back into the studio. i'm missing all the goodies. david: see you, charles, have a freight show. charles: thanks a lot, david. i'm charles payne. this is "making money." major indices struggle to maintain fraction. what theme will spark the next big move in this market? we're set to get the latest fomc minutes any moment now. jerome powell pushing the grand experiment.

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