>> i am not anti- mask i've never been prim just sang with all of the student million plus vaccinations, people should breathe some nice refreshing spring air, okay? good friday morning everyone thanks so much for joins us i'm april 23rd your top stories right now 6 a.m. on the east coast. racing for higher taxes as you heard here first president biden planning to propose a higher individual tax rate along with the capital gain tax doubling for the highest earnings. take a look at market this is morning futures are edging up after pretty good selloff yesterday dow industrials up 48 points nasdaq up 20 and s&p 500 higher by eight and a half stocks will looking to recover after concerns over tax hikes cause a selloff major average tumbling in response yesterday.

dow industrials down 321 points and nasdaq down 131 and s&p 500 by 38. european market this is morning are surging for direction investors monooring to more economic data out of the eurozone and earnings reports to end week as well. down 32 and dax lower by 36 in asia overnight a mixed story take a look all the of the major averages fractionally moving best performer hang seng index up better than 1 percent. "mornings with maria" is live right now. ♪ ♪ >> now some of the top stories that we are watching this morning, as we've heard here first on this program, president biden is planning to nearly double the capital gain tax that rate for the top honors goes all

the way pup to 43.6%. to help pay for the second phase of the spending package. the white house is considering raising the rate to 39.236% for people earning million dollars or more some individuals could see their federal rates reach high as 43.4%. the president will unveil this plan during his address coming to congress next week. meanwhile republicans unveiling counteroffer to president biden two trillion dollar spending bill 568 billion proposal focusing only on infrastructure with nearly 300 billion spent on roads and bridges more than 40 billion for rebuilding airports and more money for railroads, water facilities, and public transit. the democrats already calling the propose a nonstarter, even though president biden vowed to compromise on a bipartisan bill. washington, d.c. one step closer to become a state. the house of representatives passed a legislation along party lines to make our nation's

capitol the 51st state. this bill faces an up hill battle in the senate with strong opposition from republicans. washington, d.c. would be the smallest state geographically it has a larger population than both wyoming and vermont. ♪ ♪ vice president kamala harris lays out what she feels is the reason behind border surge. harris speaking yesterday during a round table on the northern triangle and plans to visit in june. ♪ ♪ we're looking at airports a number of issues that also relate to poverty, extreme poverty, and also their violence coming out of those regions. >> meanwhile house republicans demanding answers from vice president questioning why a migrant facility in this king based florida has not been put to use. harris visited the facility in 2019 and called out what she said was, quote, human rights abuse. in a letter republicans say it has not been open it because of democrats personal politics.

texas attorney general kim suing biden administration again says administration is allowing spread of covid-19 at overcrowded border facilities he's asking a federal court to require these administrations to expel migrants to mexico. awrngd trump year policy tax in his filed several lawsuits over president biden's immigration policies and radical agenda. markets this morning are inching higher after a sharp decline yesterday take look dow industrials up 47 points right now and nasdaq up 22, and the s&p 500 high per by 9:00 investors fewed back yesterday on news that president biden is expected to raise the capital gains tax rate for the highest earners to as high as 39.43%, of course, we've been predict here and also predict he would announce he's details within the next two weeks. joining me right now is cfr chief strategist sam also joining conversation all morning long is minge el lee strategy

founder mike tell lee and editorial page editor james freeman. great to see everybody this morning thank you so much for joining us. sam let me kick it off with you looking at an earnings period we're right in the middle of more companies set to report this morning including honey well american express, what is your reaction so far to the first quarter reporting season, and what do you -- what's your take away for the rest of the year? i don't hear him. >> i'm sorry about that. maria: you may have okay are you back, sam? >> i'm back, sorry about that. basically we're seeing earnings come in much stronger than anticipated we've already seen a 6 percentage point increase in first quarter earnings results. and we're now looking at a

so i feel in many ways it is a double whammy but not seeing capital gain rate go to such an extreme if it were then ting that the president would find out very quickly that wall street is not very happy with what is being proposed and as a result would not be getting the support from businesses towards his agenda. >> we'll see you say market doesn't believe it but market sold off yesterday on the report. james freeman these are serious numbers here and a big bite into any gains you may have made in the stock market or selling your home. your reaction? >> yeah you mention that new york city and california capital

gain rate going up towards the 60% range sam i just -- i wonder how an investor reacts to this. you can't possibly think that's a winning formula for -- for standard investments. do you advise clients on strategies that worse case scenario comes to pass and feds are taking most of the investment gains? >> well whaing we're going to find is that more people do end up holding for the longer term. maybe we do find more people gravitate towards indexes. relative to, you know, trading strategies where you would see more taxes on an ordinary income basis. yeah, you have to look to what has happened in the past. i mean, there's in the a lot of correlation between the tax rate and the markets performance on a near term basis but when you look back to the 1970s, you're looking at higher inflation combined with increase taxes and you find that that was a very

depressed decade from a total return perspective. so i think there is a concern ahead that investors certainly need to be aware of. >> yeah. and we're also in a period right now where we're also worried about inflation in some corners we're looking at price hikes in the number of food commodities so may very well be in a similar situation as what you just mentioned in the 70s where there was a loss decade let me ask you about crypto under pressure this morning bitcoin dropping below 50,000 for the first too many in over a month after reaching 63,000 last week, michael jump in here. first your take on volatility sam take, obviously, as this has been an alternative for investors, michael. >> yeah. sam it seems that we're seeing more and more institutional investors step across announce that they're gong to take large with brefn howard are you

hearing from institutional clients? >> i'm not hearing too much from our perspective. i mean, we're our focus is primarily on wealth management space and while people do talk about crypto in turns of something to watch and are amazed by prices, i think that decline we've been experiencing recently is more a matter of sentiment because of the -- weakening of the buying pressure combined with a increase of selling pressure. i think investors are a bit concerned that maybe we do see a bit of a digestion in the overall stock market and that -- drags down bit coin as well. so i think it is more of a sentiment indicator right now from most of our clients. >> interesting. all right sam it is great to see you this morning come back soon. thank you, sir. >> thank you. >> sam joining us this morning cfra your morning mover snap the stock jumping a after first quarter up five and a half percent. revenue above expectations. the social yeetd company also

adding more users than analysts expected. ceo evan spiegel saying he's optimistic about engagement trends as world starts opening up snap shares at 60 dollars 21 a share, on the premarket. we're just getting started this morning coming up, taxing your earnings, you heard it here first president biden now pledging to double capital gain tax increasing individual tax rate as well. and it is not just the retch we're on it all morning long. next hour form or utah congressman and fox news contradict tore san diego son reacting to congress's new battle to make washington, d.c. the 51st state. in the 8 a.m. hour ron johnson here to discuss growing border cries seis and gop new slimmed down infrastructure proposal plus jean paul mitchell cofounder and explain what is with his take on higher taxes for small business. don't ms a moment of it. you're watching mornings with

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well planned. well invested. well protected. voya. be confident to and through retirement. maria: house passing legislation to make washington, d.c. the 51st state giving it more than 700,000 residents representation in congress with the final vote 216 to 208 along party lines yesterday president biden backing the move earlier this week calling, quote, long overdue. joining me right now is the washington examiner commentary writer tiana lowe thanks so much for being here let's start with why it hasn't been a state from the going. it if this is so long overdue how come washington wasn't a state in the union. >> so article one of the constitution explicitly creates the federal jurisdiction that is the capital, and they make it very clear that you know, if you look at the federalist papers,

explicitly founders wanted capital to not be like other cities in the country. and also, i mean, we have to remember it was moved down to d.c. when, you know, there were proposed moments for it to be in new york and instead it was in d.c., they created an area out of this literal swamp, and now to create a new states that's already a part of the jurisdiction of the united states that requires a constitutional amendment. it would be, you know, the difference between admitting puerto rico versus new guinea into u.s. >> i think part of it is that they department want washington to be political in terms of having one, you know, majority in the area that laws are written. james freeman jump in here in terms of washington and the potential for statehood. >> yeah that's right, it was set up to be a federal area not

under the sway of any particular state. it seems like if this is actually a problem the natural remedy would be to give pieces of it back to virginia and maryland but that doesn't change and i'm wondering how you think viewers should look at this. is this kind of a partisan ideological rant from the house democrats that dies quickly or do you think this -- raises real pressure again for senate democrats to get rid of the filibuster? >> well, i mean, obviously, i believe that abolishing filibuster has been their imeven though you have people mark kelly is not someone who you would think is, you know, moderate by any means by pointing out it no. a lot of democrats who need to win reelections are not just going abolish filibuster. i mean, within of the points i was e leak to bring up as a

californian personally is that proposed state of jefferson is a century old contract in california, it has about so it is 3 million people who live in top fifth of california with a bottom sector of oregon who point that out their interest have not been represented in the senate or in california state government which is overwhelmingly plus, and they've been advocating for their own statehood for years because it is a very separate culture. again, nearly 3 million people d.c. is fewer than 1 million people saying give statehood to d.c.? that's sort of building contradict argument by left wing activist who want d.c. statehood. >> i think it is important to look at all of these policies to try to understand what the intent here is from the democrats. they want to make washington, d.c. a 51st state, obviously,

that would -- that would be one attack on something that has been in our constitution and there was a reason to not make washington the state. you've got an attack on our governing institutions the judicial branch, democrats pushing legislation to expand supreme court putting in their four additional liberal justices. you've got an attack on the legislative branch house of representatives, wanting to push for the end of the filibuster you've got an attack on the executive branch president obama used his, and his phone he said at the time he will change policy with the move of a pen that's what president biden is doing is already taken more unilateral executive actions than any prior president in 100 days there's real intent not talking about moving needle for american people but moving the needle for the democrats ensuring that the democrats are in power for as long as possible. that's what hr1 does as well.

let's see this -- this agenda and zero in on it exactly what's going on. these are not policies that help the american people these are policies that expand the democrats control. am i right on that? >> oh, absolutely. and also you know, the democrats treat reck reconciliation like s their fall guy that's not how it works you know when they talk about oh we need to mandate new trillion dollar bills with stuff that even obama's former advisor advised against like paid family leave because it doesn't discriminate against work mrs. and insane tax hike wool trying to eliminate the salt deduction cap. they could go across the it. it is not like mitt romney in all of this or proposing, you know, compromises.

j you haven't had support from republicans on any of this. coming up tax to the max. president biden will announce his plans to raise taxes next week. not just on the wealthiest americans we're going get into it when we come right back. stay with us. transistors into tp whoo! yeah! oh, hi i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you you don't have to be circuit design engineer to help push progress forward can i hold the chip? become an agent of innovation with invesco qqq

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maria: welcome back tax rates are about to take off, president biden proposing to nearly double the capital gains tax rate from 20% to 39.6% in next spending package, total tax rates for new yorkers in california could hit up to 50%. mike let's talk about this. do you think people will keep pushing people out of high this is going to get people out of high tax ?aits >> -- >> look maria yes i think that's

one of the reasons we're unlikely to see this and let's take quick step back here. yowsh to see those talking money the government does not the need the money right there's over $4 trillion that goes through washington, d.c. they have a spend problem not revenue problem when you cut the corporate tax rate from 35% down to 21% corporate tax revenue was still up 3% for the year. why is that? it is because we've got the first year of 3% gdp growth since 2005. we now have an administration that places little to no value on prosperity for everyday americans and what it is also important to know is that the ultra wealthy people making 5 and 10 and 15 million a year in capital gains, who they're supposedly trying to target are able to shelter those capital gains and already shelter most of them now through sophisticated tax planning techniques okay you know who can't do these sophisticated tax plan techniques this small

business owner that is going to sell his business at the end of working there for 30 or 40 years and hopes of getting two or three million dollars and using all of that money for retirement instead of paying 20% in taxes now 40 or 50.in taxes this is a power grab and a way of gaining cbo scoring so they can spend more money on liberal nonsense. >> yeah. well look the 39.6.individual rate will hit small business. so you make a good point it is also going hit business and james editorial board this morning write this is. the individual rate likely for the top earners goes to 39.6% at 37%. but when you add in the 3.8% obama care tax on investment you get to 43.4% that's just federal, you add 13.3.in california, and another 12% in new york. plus the 3.8% in knox you're talking about a capital gains tax as regular income and you're

headed toward 60%. 60% of your income going to the government, your reaction. >> yeah. it is bad for growth. it is also wrong. there are a lot of reasons why you want that capital gains rate much lower than the individual rate one of them is that this is double taxation people we're tired and want money they paid tax on their income. then as they go to invest the savings to savings they were able to scratch out after paying tax bill on their income, they're now geng to be taxed again at a -- much higher rate than previously on the growth side when you tax something you get less of it. why do we want less investment in u.s. business? that is going to be the result >> they need revenue to pay -- they need revenue to pay for this so-called infrastructure package. >> well there again, they're

raising the corporate rate for infrastructure. one is the result, you're going to as we've seen all over the world, have less investment by businesses and that means work verse lower wages so i think it is really important for people to understand this myth that the biden plan can manage to plunder wealth from the top 1% or from american corporations an somehow avoid hurting workers is federal a fantasy. workers need investment to become more productive and to get higher wages. maria: yeah. absolutely all right we'll attack a break and when we come back we'll look at the china showdown across the look at the u.s. medical supply chain. why we continue to rely on these products being produced in china. then blasting off spacex sending four restaurants into space again using a recycled rocket we've got the launch, coming up. stay with us.

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welcome back good friday morning everybody thanks so much for joins us i'm maria bartiromo. and it is friday april 23rd. take a look at market this is half an hour where futures are inching higher after selloff yesterday dow industrials up 49 and nasdaq up 28 and s&p 500 higher by 9 and a half. stocks recovering after concerns yesterday over president biden capital gains tax hike proposal that caused a selloff in the market. tumbling in response and dow down 321 and nasdaq down 31 and s&p 500 lower by 38 european market this is morning are searching for direction monitoring economic data out of europe and ending week there and dax index lower by 51 in asia a mixed story for actual moves pretty much across the board. hong kong with the best performer meanwhile back in the u.s. scientist discover a new covid-19 variant. cheryl casone with the details.

prnlg good morning, texas a&m discovering new strain they say it is more contagious resistant to antibodies bv 1-rbgs that is the county in which the university is located. the variant was found in a young student during the routine coronavirus screening scientists say that it is related to the u.k. variant so far that new strain has been only fadged in one person. well the senate passing hate crimes legislation following the recent wave of violence against asian americans bipartisan legislation passed by vote of 94-1 allow expedite reviews of hate crime hate crimes expected to consider this bill next month and hate crimes excuse me and 16 of the larpgest u.s. cities increase 149% between 2019 and 2020. well, intel new chief executive warning global chip supply shore taming could last another two years.

the shore taming has shut down autofactories reduce supplies of computers other appliances. earlier this month intel pledged to invest 20 billion dollars in new microchip manufacturing plants and in to become a contract chip manufacture meaning make other in addition to its own attack a look at intel premarket stock is actually down almost 3%. and finally this, we have liftoff, just before 6 a.m. eastern time, spacex launching four strawngts into orbit. the mission taking off from cape canaveral less than an hour ago carrying restaurants from the u.s., japan, and europe to the international space station. the launch making history marking the first time the spacex company has used a recycled rocket also a capsule to launch humans into space. they're going to have now a record number of restaurants maria after at the international space station so a lot happening there. back to you. >> that is very cool. cheryl thanks so much we're going to get that video and show it as we also.

meanwhile rolling back u.s. drug manufacturing advocates are slamming biden administration for withdrawalling a trump era proposal which was seeking to exempt critical medicines from a world trade organization procurement agreement to the biden white house told the wto in their withdrawal notice that it, quote, looks forward to working with parties to the revised procurement agreement to find solutions to secure the medical supply chain per a copy obtained by bloomberg joining me right now is china rx author rosemary gibson thank you for being here one of the issues that sticks out here is what we all felt and learned firsthand at the beginning of this pandemic. and that was that it became clear 70% of the active ingredients in our prescription drugs are made in china, in fact, during pandemic when we were in the throws of this lockdown, the global times which

is a china state run media, newspaper reported something like well, maybe we won't even send drugs to america in terms of a vailed threat that we were so reliengt on china it was being made in china that we were perhaps not geng to get these active ingredients. your thoughtings on this move and how it relates to that. good morning maria that is with you and policy by biden administration will have devastating consequences for national security and you're right maria during the pandemic, it became really clear how dependent we are on china and actually it is 90% of the basic chemicals needed to make the drugs that we needed to care for people hospitalized with coronavirus to help them recover and these are drugs used in icu's prefer day in best of 250eu78s that we're dependent on china for that. not just us but the whole world.

and we have 100 countries affected by covid, who are all competing for this same supply chain. and so it became clear that we needed as a matter of public health security that we had to have some degree of domestic manufacturing capability for these essential drugs. you know, how do you replenish strategic national stockpile in middle of a pandemic 70 countries banned exports including w.t.o. members in europe so we have to have some domestic manufacturing. the trump administration came out with executive order said well let's try to rebuild some of our manufacturing base and let's use our taxpayer dollars to the d.o.d. buys drugs v. a. buys drugs so stockpile. let's use that money to rebuild our -- stroll industrial base here and procurement agreement so trump administration said this is so important that we need to exempt

these basic drugs essential drugs from the gpa for our national security. and when the biden administration calm in they proceed on same track with his policy it was great. and even as last month the administration was saying this is good for america would bring back jobs. but here just this week we see this dramatic turnaround and it will really have devastating consequences for our national security and health security maria. maria: i don't understand why. i don't understand why the administration would overturn this, i mean, earlier this month manufacturers including three m and bergen dupont met at the white house alongside lobbyists to trade groups to discuss shoring up national scok pile of pharmaceutical what is do you believe biden administration is plan is to support these drug makers and what is behind this move to get out of this procurement agreement that the trump administration put in there? i don't understand.

if why not protect and secure the production of these vital ingredients and drugs in america job why would you get out of that plan i don't get it. >> the reason maria is that a lot of special interests that were at that meeting made minnesota by outsources jobs and are help security to china. they make more money on that margin when they can buy cheap from china that's how we got so dependent but this group advising white house this is the group that has really decimated our global supply chain. and our ability to have drugs when we need it even before the pandemic maria we had hundreds of drugs in shortage. right before the shut down i was visiting hospital in a major city, and there was a pharmacist there she's volunteered on local ambulance service. and she said we can't even get use to the help people who are crashing in ambulances bring

them back from life basically. so we can't get that in a right size for our ambulances so i said what do you do? she said well we drive faster to the hospital. this is gong on for years an same group that was advising biden administration this isn't about improving the stockpile. we need to improve manufacturing, you know what do you do when stockpile runs out? we have to be able to produce these -- out of fear for life it makes no sense whatsoever. maria: of course, of course, i mean it is such an obvious issue. peter navarro was working on this very much dealing with companies to ensure that they could turn their headquarters, their factories into manufacturing places to ensure that we had space and capabilities to do all of this at home. james freeman, you and i wrote a book about this, we discussed this in our book which was published last year. the cost -- trump china and american revival, your thoughts on this

policy of the biden administration to pull out of this procurement agreement where we were actually trying to secure the production of these goods in america. >> yeah. i think it really did come hole to people last year and i'm wondering rosemary if you see any kind of private axon this. that biden administration is not willing to mac it a priority, i certainly talked to a lot of business executives last year thinking that perhaps there is an issue of just ensuring that the supply chain is sturdy and not reliengt reliant on any one country especially dictatorship outside of washington wondering if you see any sign of business is saying this just makes sense to diversify our global supply chain. >> yes.

we actually see domestic companies other companies wanting to reshore back here coalition for prosperous for mission oriented group to support domestic manufacturing including for medicine and ppe and they're ready and able willing to make product here. these are great companies -- and behind scenes what's happening -- companies do see that it is going to hit the fan in the south china sea. and as a matter of risk mitigation thref to diversify their manufacturing base and it is part of their plan many companies are looking to resure here and rebuilding plans. and it will be great if the groft can use our taxpayer dollars to bring that money and to bring those jobs back home. you know, cpa came out with a report last year, that was resuring our manufacturing for drugs we could create 800,000 jobs here instead of illegal fentanyl pouring into country killing communities we could

have people actually making drugs that people need to survive right here at home. that would be a great thing to do this is a -- it is devastating but what's geng to happen to cargo ships in south china sea when things escalate with taiwan do we think we can get what we need this is a terrible policy. predicted this -- >> rosemary you're right. you're right. at the beginning of the pandemic, it was march of 2020, i got a call from one of my hospital forces he told me we were waiting on ppe we were wait on the protect eve agreement it was on boats ready to come it was -- in the water at sea, and those boats were told to turn around come back we need that ppe for china. and i reported that at the time but you're right there's a whole lot of bullying gong on in the south china sea. and by the communist party. so rosemary this is a superimportant issue. thanks very much for weighing on it. gibson joinings through. weal keep a spotlight on it.

.... oh, hi i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you you don't have to be circuit design engineer to help push progress forward can i hold the chip? become an agent of innovation with invesco qqq maria: paying at the pump gasoline prices on the rise across country as demand begins to surge again what to expect if you'ren playing summer road trip we're back in two minutes time.

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los angeles county prices jumped to $4 a gallon joining me is senior market analyst phil good to see you what's behind these price hiex and is it just an increase in traffic or something else? >> i think it is a combination factor. but this is going to be the summer of pain when it comes to gasoline prices best way to lose a little weight maria is pay for gasoline in cash because your wallet is a lot lighter. you know, this is a perfect example of the market underestimating strength of the u.s. economy in way it can rebounding with a lot of stimulus. refiners across the country have not invested in keeping up with the -- with the expected demand because governors across america are saying you know we're going get rid of carts why invest in refining capacity, and at the same time you're seeing the amount of demanding for gasoline come back and hilt over 9 million barrels day last week

and there's a a strong possibility by end of the summer we're going to be a precovid levels when it comes to gasoline demand and we're not prepared for that. >> all right. so big spikes in gasoline also reported in philadelphia, new jersey, delaware, what do you think is going to happen going forward. i mean, we're coming into a period where gasoline demand is on the rise. but there's also policy, you know, killing excelpipeline is one issue that many raise in terms of sending prices higher. >> it is just one of many factors on the biden administration when it comes to raising gags lean prices and fact checkers who -- can fact check me again because the day that president biden was elected i said america just voted for high per gasoline prices and high per energy prices. and that is coming true. and it is amazing because i've been in this business following energy prices for 40 years. and for the first tool in history, you know, i see that,

you know, twitter and facebook is blocking things when you try to tie president biden's policies to rising gasoline prices. you know, in fact, i was even fact checked call thed by a fact checker i laid out distinctly this is why he's raising gasoline prices keystone pipeline drilling moratorium lack of investment in traditional energy sources all of these things led to gasoline price spike. well they ignored my facts put in facts of something their scenario now i can't share my funny memes because they're saying they're not true. maria: my god. phil thank you so much we'll keep watching phil flynn this morning coming up a g for some java how much you can make just by taking coffee beans that is making a buzz this morning. stay with us.

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maria: welcome back and time for the morning buzz, get paid to get caffeinated? chameleon organic coffee owned by nestlé launching contest to those willing to take more coffee breaks two winners receive 3,000 dollars in ten case of coffee to enter all you have to do is taking more breaks. james what do you say? >> i'm open to an offer to pay me to drink more coffee. the word organic, obviously, is a little bit of a turnoff for me but i'm willing to try it, and -- i think especially, you know, if

we end up doing another book i'm going to need it then so let's -- save for them. [laughter] >> i love it michael what do you ?ai say? >> i'm trying to quit my diet coke habit this is incentive diet coke is disgusting organic coffee is healthy for imru and when day slows down i'm up for taking as many coffee breaks as i can fit in without my heart jumping of my chest. maria: and you'll get paid for it quick break and threat of more taxes as crypto attacks tumble your money and word on wall street all starts necks hour. "mornings with maria" is live on fox business. [announcer] durán catches leonard with a big left.

♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with 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. ♪♪ ♪♪ ♪♪ ♪♪ some days, you just don't have it.

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maria: welcome back. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is friday, april 23rd. your top stories right now, 7:0. bracing for tax hikes, as you heard here first, president biden will proposed doubling the capital gains tax on top of raising income taxes. take a look at markets this morning, we had a reaction yesterday but we're bouncing off the bottom this morning, dow industrials up 63, nasdaq up 26, s&p 500 higher by 10 of. this after a selloff yesterday, stocks looking to recover after concerns over the capital gains tax increase caused a selloff, the major averages tumbled in response, dow down 321, nasdaq down 131, s&p yesterday lower by 38 and-a-half. european markets are searching for direction, investors are monitoring economic data and earnings reports, the ft 100 is down 29, cac down 14, dax index is lower by 52. in asia overnight, a mixed story, take a look.

best performer in hong kong, hang seng up better than 1%. "mornings with maria" is live right now. now some of the top stories we're watching this morning. as you heard here first on this program, weeks ago, president biden plans to nearly double the capital gains tax to help pay for the second phase of his spending package. here's what we know. the white house is considering raising the rate to 39.6% for people earning $1 million or more. some individuals could see their federal rates be as high as 43.4% and this is on top of raising income taxes on people making $200,000 a year. this plan will affect more americans than just the richest of us. meanwhile, republicans unveiling a counter offer to president biden's $2 trillion spending bill. the $568 billion proposal from republicans focuses only on infrastructure with nearly $300 billion being spent on roads and bridges, more than $40 billion for rebuilding

airports and more money for railroads, water facilities and public transit. democrats are calling the proposal a nonstarter even though president biden vowed to compromise on a bipartisan bill. meanwhile, washington, d.c. one step closer to become a state, the house of representatives passed legislation along party lines to make our nation's capital the 51st state in the union. the bill faces an uphill battle in the senate with strong opposition from republicans. washington, d.c. would be the smallest state geographically. it has say larger population than way only n and vermont -- wyoming and vermont. vice president kamala harris lays out the reason she feels is the reason behind the border surge. she spoke yesterday, where she says she plans to visit the northern triangle in june. >> we are looking at issues that relate to poverty of, extreme poverty, and also there's violence obviously coming out of those regions. maria: meanwhile, house republicans are demanding

answers from the vice president, questioning why a migrant facility in florida hasn't been put to use. harris visited that facility in 2019. she called out what she said was, quote, human rights abuse there. in a letter, republicans say it has not been opened because of democrats' personal politics. scientists discover a new covid-19 variant they say is more contagious and appears to be resistant to antibodies. the bv1 variant is named after the county in which the university is located. it was found in a young student during a routine coronavirus screening. scientists say it's related to the u.k. variant. so far the new strain has only been found in one person. time for the word on wall street, top investors watching your money. joining me is chief investment strategist jim paulson, rose cliff capital ceo and managing partner, mike murphy, and chief economist, lindsey piezga.

we have futures edging higher after a sharp declines yesterday, on the president's plans to raise the capital gains tax rate to 39.6%. your reaction to the higher taxes come and the effect on the markets and the economy. how do you see it? >> i think we're going to have to get used to this. we're going to have a lot of salvos on taxes going on for a while with negotiations continuing and i guess my reaction to it a little bit is this is kind of the opening negotiation and one side bids high, one side bids low and we're probably -- we're going to have higher taxes, we know that's coming. but i think it's not going to be anywhere as high as this salvo that's been sent out yesterday. a little bit, i think that's why the market he reacted knee-jerk yesterday and settles down a little bit. ultimately when they agree on

something it will be something less than what the white house is asking and certainly something more than what the republicans are also offering at the moment. but i think it's important, maria, for investors to not get so drawn into what might happen with taxes that they end up doing dumb things i think on the investment portfolio. we're in the midst of an incredibly, maybe one of the fastest growing economies we've had in post war history and that's a pretty positive catalyst under this market. it can be dented with talks of tax increases, but i think if the economy's growing like it is and earnings are growing like they are, the market's going to regain its footing and continue to go higher. maria: i think you make a practical narrative here. it's interesting to hear you say that. that's what sam stowv a al said in the prior segment, that wall street is not buying it, they're not believing that taxes will go

as high as we're talking about because for the highest earners you're talking about close to 60%. yes, the macro environment really good. do you expect that we're going to continue to see this growth throughout the year? expectations are the way up at 9% gdp for 2021, jim. what do you think drives things this year? where is the growth in the economy? talk the mack he crow story. that's -- macro story. that's going to be the recipient of any impact of higher taxes, the macro story. >> i think one of the things that's been driving this market consistently has just been a sustained positive surprises on economic and earnings front. i don't know if that's over. the u.s. economic surprise index, going back to 2000, has been top quinntile 80% of the time in the last year. there's been nothing close to that over its entire history.

i think all of us are having trouble going to almost a depressionary bust last year, health crisis and one of the worst reis sessions ever, to having a booming economy, we can't catch up to that. all the reports coming out every week are so much better than expectations and when they're better than our expectations, we have to revise up our forecasts, we have to revise up earnings estimates, revise up our target prices in the stock market. i think that's keeping a continual bid going into the equity market. doesn't hurt that bond yields have stopped going up and come down as well. maria: that's a good point. we've got the 10-year where it is and that one scare all the way up to 1.7% is now several weeks ago. lindsey, that macro story you also have to look at spending, republican lawmakers are unveiling $568 billion counter offer to president biden's 2 and a quarter trillion dollar spending bill.

the gop plan allocates $300 billion to be spent on roads and bridges, $40 billion on he rebuilding airports and more money for railroads, water facilities and public transit. what do you think the spending plan would mean for the economy and how do you think this ends up? are we talking about an enormous spending plan that the biden administration can get through, through reconciliation, or do you think there's room for something lower price like the republicans are proposing? >> well, the president has made it clear that he's willing to negotiate. i would expect that the final ticket price of the infrastructure spending would be somewhere between what the democrats are looking for in terms of 2 trillion and what the republicans have proposed in terms of $570 billion. 570 billion is still a lot of spending and it will be a continued welcome presence in the economy. remember, right now the vast majority of the growth that we are seeing is somewhat artificial, coming from government stimulus, be that

funding programs, direct spending, additional stimulus and the infrastructure spending program will only compound that additional support for the economy but we do have to remember that it is artificial and any further growth of the government's balance sheet will have significant inflationary implications down the line. so near term benefit, long-term cost, we will have to address at some point. maria: yeah, i mean, we talked yesterday that canada became the first central bank to start the tapering. you wonder when we're going to hear a change in language from the federal reserve, if we do see inflation become an issue. that would be more pressure on the stock market, correct? >> oh, absolutely. but right now, we are not expecting any sort of commentary from the federal reserve to suggest that they're even thinking about thinking about tapering or rolling back some of the accommodations. the chairman has been very clear, while we are taking steps in the right direction, the recovery is far from complete. while the bank of canada may seem ahead in terms of their

most recent policy, the federal reserve is unlikely to indicate any sort of lockstep following along in terms of what we saw from our neighbors to the north. maria: throughout all of this, mike, crypto has been rallying but now we're seeing a selloff. bitcoin this morning dropping below $50,000 for the first time in over a month, mike, after reaching highs of 63,000 last week. this decline wipes out, what, $260 billion from the crypto market. what's your take on this volatility? would you buy in at this level? >> good morning, maria. no, absolutely not. you know, the main reason i love coming on your program, not just to see you, but also to hopefully help the individual investors watching at home, and we've talked a lot about fomo, the fear of missing out and chasing bitcoin or general coin.

you're seeing a selloff because a lot of institutional investors made a lot of money. you're seeing individual investors not wanting to miss out and watching dogecoin which is literally a hoax, a joke, go from fractions of a penny up to 40-cents and they're chasing in and losing hard-earned money. unless you understand an entry point and exit point and you understand what exactly it is you're investing in, you should look at sticking to what you know, sticking to the markets, sticking to large cap growth and stay away from the hot fad that's cryptocurrency right now. maria: and where is that for you, mike? where is that for you? where do you allocate money? >> so i look back say the last 100 years and know that any pullback to the market have always been bought and we hit new highs. we were at a new high earlier this week in the overall markets. people working hard for their

money and they want to invest, see a return on their money, they can look at large cap u.s. growth. we have low historical interest rates. we have one positive that came out of covid was a lot of technological advances were pulled forward so that's having an impact on company's bottom lines, on company's earnings. so investing in the market has worked throughout history. you and i have seen it over the last several decades take off and whenever there's a pullback a new high has been hit so i think people should be investing in that and trading is a full-time job. some people can be great traders, make a lot of money. most people go to work, work for a living and they're not great traders. maria: i think we've all seen this on the panel, that investing in stocks for the long term is certainly the best way to he create wealth with owning american companies that are paying dividends as well. it's a great conversation. jim, paul, lindsey, come back soon. much more ahead. queens college cambridge

president is here, he'll look at markets amid the proposal to raise taxes on capital gains. and senator ron johnson talks about the border crisis. also, we talk small business with john paul dejoria. and we've got a look at the most valuable colleges offering the best financial aid packages, you don't want to miss it. joining the conversation all morning long is michael lee and james freeman. we'll get back to this fantastic panel when we come right back. you're watching "mornings with maria" live on fox business. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪

♪ ♪ ♪ ♪

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at indeed.com/promo maria: welcome back. former president trump slamming lee bon james over his tweet responding to the deadly shooting of 16-year-old makiya

bryant in ohio, the former president writes this in part. lebron james should focus on basketball rather than presiding over the destruction of the nba. his racist rants are divisive, nasty, insulting and demeaning. the basketball star initially tweeted a photo of the ohio officer involved captioning it, quote, you're next. he has since deleted the tweet. joining me now is fox newsradio host and political editor guy benson. guy, welcome back to the program. great to see you this morning. >> good to see you. maria: what did you think when you saw lebron james' tweet, you're next? >> i mean, i was shocked. it was so unbelievably irresponsible and reckless, based on a cursory understanding of the facts and the early indications of the body cam footage and the night, to try to

conflate that with the george floyd killing was not consistent with the facts at all. he decided to move forward with a narrative independent of the facts and tweet out to almost 50 million followers a photo of the face of this officer, you're next. there was an hourglass emoji in the tweet as well. and obviously president trump took exception to it as well. maria: yeah. mike, jump in here. let me tell you what lenny dikestra tweeted. he said on behalf of all athletes, current and former, i apologize how he lebron james showed his inner maxine waters. the officer quickly acted to prevent the knife attack from getting worse. many of us appreciate. your thoughts? >> the nba ratings have collapsed and they seem to be going further and further south,

despite the fact that lebron himself was playing with anthony davis in an exciting lakers team, they won the first championship in a long time. it seems that with the excitement and the talent in the nba the ratings should go through the roof. do you think tweets like this may having to do with the decline. >> lebron and a number of other players have been hyper active on the political front. that is their call, their right as americans. it's also our right to criticize them and i think there's huge double standards and issues of hypocrisy when it comes to china and those have been discussed pretty thoroughly. there's irony here of lebron later deleting the tweet that we're talking about and putting up another tweet that was not really apologetic. he had previously lectured the then gm of the houston rockets for just supporting democracy in hong kong and said he didn't thinker through what -- think through what he was tweeting and was ignorant. he has to think about the

implications for other people. maybe lebron could take his own advice on this front because i think he was dead wrong when it came to hong kong and china. we've seen a number of polls, to your point n the last such he'll weeks where they asked sports fans are you watching more sports because of political messaging on the field or on the court or are you watching less or no difference? and of those who have made a change, more or less, it's almost a two or three to one margin of fans saying we're watching less because of the politicizing of sports and so there are a lot of different factors behind the decreasing ratings of nba and a few other things but one of them is politics and within that sphere, we know that it is hurting these leagues more than it's helping and, again, these players can do what they want but they might drive away fans in the process. and they are. maria: yeah. but you know what? it's not just the players. i mean, the mlb itself, right, they're asking ticket holders

their political affiliation in a new fan survey taken after the games. the league says, quote the research shows a person's self identified political affiliation often impacts their views about the pandemic and views towards returning to the ballpark. this is valuable information for the clubs to understand the views of their fans about attending games. both taking the survey and answering the questions are completely voluntary. what? i'm just like what? >> so i would make two points in response to this question. and i'm actually sort of eager to go take this survey if i can find it somewhere because i'm a baseball fan and i'm an annoyed baseball fan right now. there are a lot of conservative leaning people who believe the science that once you're vaccinated it's safe to do things, especially outdoors. a lot of people on the left are getting vaccinated and he refusing to do anything, sitting in their house with two masks

on. that's anti-science. i would like mlb to know how many of us are not lefties and don't want them going along with woke lies for example like they did in georgia. maria: i'll end with michael jordan's quote from years ago. republicans buy sneakers too, said michael jordan. guy benson, thank you so much. we'll be right back. (vo) conventional thinking doesn't disrupt the status quo. which is why t-mobile for business uses unconventional thinking to help your business realize new possibilities. only one 5g partner offers unmatched network, support, and value-without any trade offs. obsession has many names. this is ours.

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percenters ready to hand over other people's money as well as their own of. the treasury and white house should take yes for an answer of. why do you think the treasury and white house would be opposed to private investments funding the green new deal? >> james: they shouldn't be. there's a bizarre disconnect between washington and new york where in washington there's all this talk about all of these difficult and destructive plans to try and pull in tax revenue in order to fund green energy. meanwhile, you have all of these leaders of financial institutions, one percenters, many appeared on this program, pursuing this sort of mania of green investing. so i think the biden administration should just let it happen. treasury secretary janet yellen saying this week that private capital is going to do most of the funding of this green infrastructure that the biden team envisions and the question is why not let them do all of

it, whether talking about larry fink at blackrock, jamie dimon at jp morgan, you can go across the financial landscape, the big pension funds they're all pursuing green strategies and committing big dollars to energy. u.s. fossil fuel producers now have trouble getting loans from giant banks because this mania for green whatever has taken hold. so i think washington should just let these institutions fund this green revolution or whatever you want to call it. maria: why wouldn't they do it that way? mike, what do you think? michael: look, just to touch on james' point, i think he's got a lot right there where if this green energy and green new deal things were necessary and feasible, private capital would already be doing this and you wouldn't need any government involvement. and the fact that you need such

draconian government mandates to get these things done i think answers that question. maria: yeah, yeah. all right. we will -- go ahead, james. james: all of these institutions -- by the way, i'm not recommending this. it's not just at the institutional level, it's also individual investors who have been pouring money into climate related etfs and all kinds of so-called sustainability investment plays. the capital is just flooding into this area and i think it's more than sufficient if you want the green energy investment, it's happening right now. we don't need to punish with confiscatry taxes those who are not choosing to invest.

maria: we're going to take a break. today is the day we may learn about the johnson & johnson covid drug, the cdc and the fda leaning toward unpausing johnson & johnson's vaccine. earlier in the week we were told by dr. levy it may very well happen today. what you need to know, coming up. then, not leaving the comforts of home, why more millennials are staying put in their childhood rooms, it's making a buzz this morning. we'll tell you all about it.g stay with us. hey, guys! they have customized solutions to help our family's special needs... hey, graduation selfie! well done! and voya stays by our side, keeping us on track for retirement... ...giving us confidence in our future... ...and in kevin's. you ready for your first day on the job? i was born ready. go get 'em, kev. well planned. well invested. well protected. voya. be confident to and through retirement.

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[announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. 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. ♪♪ ♪♪ ♪♪ maria: welcome back good friday morning, everybody. thanks so much for joining us, i'm maria bartiromo. is friday, april 23rd. a look at markets this half hour where we are seeing a pretty good performance this morning after a selloff yesterday. dow industrials right now up 31 points, nasdaq up 25, s&p 500 higher by 8 and three quarters. markets looking to recover after concerns yesterday of over president biden's capital gains tax hike proposal, that caused a

selloff in markets. as you can see. the dow industrials were down 321 points, the nasdaq was down 131, s&p lower by 38. european markets this morning are mixed to slightly lower, investors are monitoring more economic data and earnings reports to end the week. ft 100 down 34, cac down 17, the dax index lower by 62. asian markets overnight a mixed story, best performer was in hong kong, hang seng index up better than 1%. meanwhile, a decision is expected today on whether the u.s. will resume the use of the johnson & johnson covid 19 vaccine, cheryl casone with the details. cheryl: that is right, maria. the cdc and the fda are reportedly leaning towards reauthorizing the j&j vaccine but with a warning on it. the shots was paused following reports of rare but dangerous blood clots in eight people under the age of 50. after the pause was put on the shot, the nation saw an 11% drop in vaccinations over the past week. more than 135 million americans have received at least one

covid-19 shot. taking a look at j&j in the premarket, it is flat going into the session this friday. well, american airlines and jetblue announcing a mass of i've expansion in the northeast, adding 24 new flights just in time for the busy travel season this summer. all part of the airlines' northeast alliance which they announced earlier this year. most of the flights are from new york and boston to toronto, cincinnati, st. louis and houston. jetblue will nearly triple capacity out of laguardia airport. despite all of these openings, these new routes, american did report its fifth consecutive quarterly loss, they lost $1.25 billion in the last quarter. we reported that on the show. the stock is higher this morning, a little more than one and a quarter percent. well existing home sales hitting a p seven month low last month, as record prices and tight inventory limited purchases. according to the national association of realtors, the number of contracts closed fell

3.7% month over month to a rate of 6.01 million. get ready for high tech shopping at grocery stores. amazon reportedly planning to launch a tech driven store in brookfield, connecticut. you scan your smartphone to enter the store and software will charge your phone as you exit. they announced palm scanning technology that will be launched this spring. those are some of your headlines. back to you. maria: thank you so much. cheryl. pushing for the 51st state, the house passed a bill yesterday which would grant washington, d.c. statehood. it faces an uphill battle in the senate where chuck schumer has not committed to bringing it up for a vote. joining me now is fox news contributor jason chaffetz. it's great to see you this morning. thank you for being here. so much policy to talk about

with you. let's begin with the 51st statehood idea. do you think this goes through? >> i don't. they tried this in 2009. they passed it in the house but the senate didn't take it up. the root of this is whether or not they can override the filibuster which they can't, unless they change the rules. if they change the filibuster, they're going to pack the courts, add d.c. statehood, maybe puerto rico, others along the way. without that, i don't think they'll get to the 60 vote threshold. ultimately, i think the courts would rule is unconstitutional, because it is constitutional. maria: it comes down to two senators, joe manchin and kyrsten sinema to stop them pushing through ending the filibuster then. is that a what this is all about? if they're able to end the filibuster which the requirement of 60 votes and they just need 50 votes with kamala harris being the majority and the 51st.

they can get through everything they want. hr1 which changes voting laws, statehood for d.c., higher taxes, really everything they want, packing the court as well. >> yeah. that is the fear, is that by rolling through the filibuster -- normally through what's called -- they have to get to a 60 vote threshold in order to break clochure and look at a bill. the senate can only look at one bill at a time. that's why so few bills go through the process. they have threatened to override that filibuster but you're right, kyrsten sinema out of arizona and mr. manchin, senator manchin have been the two that have held the line and the senate tradition that has been there for more than 100 years. maria: they're talking about all of this being civil rights

related. let's take a look at the agenda, jason. are there any bills or laws or pieces of the biden agenda that you believe are actually helpful to the american people? >> no. at this point, i mean, the whole promise of joe biden, he was going to return us to this point where we were actually going to work together and he was going to reach across the aisle and find bipartisan solutions but in the first 100 days, i mean, can you find a single thing? he makes donald trump look like the most bipartisan president we have had in generations. but joe biden's promise of bringing people and uniting people is a fallacy and he's never done it throughout his history of his time in the senate. i don't know why we thought he was going to do it now. but that was the story, that joe biden and kamala harris put together for the campaign and i think america liked it. the problem is, they just never do it. so i don't see any piece of legislation that is helpful to

the economy. i don't see any piece of legislation that is bipartisan in any way, shape or form. maria: yeah. the journal this morning in one of the op-eds i read earlier wrote this whole moderate joe was a myth from the beginning but the media tried to play joe biden as some moderate in the face of the extremists on the left. i mean, the media has enabled so much of this. look at the bore of deer crisis -- border crisis and what politico did yesterday, denying the border crisis and they wrote a memo, the leadership writes a memo telling its staff not to use the term crisis in articles. this internal memo was received by the washington examiner and it reads, quote, while the sharp increase in the arrival of unaccompanied minors is a problem for border officials, a political challenge for the biden administration and a dire situation for many migrants who make the journey, it does not fit the dictionary definition of

a crisis. can you imagine? i mean, you've got infants being thrown over an 18-foot wall. you've got little girls getting sexually abused on their trek over to the border. you've got smugglers and cartels demanding $5,000 a head for your kid. and renting children so that it could look like these people, young men, are actually fathers and families to get into this country. and yet politico is telling their staff that it doesn't meet the dictionary definition of a crisis, jason. >> it's further proof that the media is hand in glove with the radical far left agenda and there's some legal reasons why they're trying not to call it a crisis. i think they're afraid of some injunctive relief as the states you sue the federal government. this goes back to the obama-biden administration where they changed the definition of credible fear and they did so

unilaterally without legislation. that changed the scope with which people could claim asylum. donald trump fixed all this and was plugging the border and had a good policy in place p and of course as soon as biden and harris get there, they reverse that. but they're afraid of this injunctive relief if it is a crisis and the states can argue, hey, listen, we have to fix this and fix it immediately because you can't unilaterally change the definition of credible fear which obviously it started in obama and biden has continued. maria: well, the media is also playing up this tax increase plan as if it's just going to impact the top 1%, which is so wrong. if you're going to overturn donald trump's tax cut plan, you are that in and of itself raising taxes on everyone because every level of income saw a tax cut in 2017. so we've got the capital gains

tax hike here, the white house considering nearly doubling that tax rate to 39.6%. when you talk about wealthier investors, federal rates could creep as high as 43.4%. those making more than $1 million a year, states like new york and california could see rates inching closer to 60%, jason. the media keeps saying it's taxing the rich. everyone is seeing their tax increases, everyone will see their taxes go higher, every income level if you're overturning the trump tax cuts. your reaction? >> that's exactly right. every single person in this country will get a tax increase. and they've done so in part because of the inflation which is so cruel to lower incomes, but they're also -- i mean, they are -- it's almost as if they don't want the economy to succeed because it was moving -- look what they did in the energy sector. i mean, prices -- if you're on a fixed income, if you have to

commute to work and the energy prices go up radically, that harms you. it's a tax unto itself. but the actual taxes -- remember what bernie sanders said about joe biden. he will be the most progressive president in the history of the united states and in the is 100 days that's exactly what eggs doing. maria: yes, he is. jason, great to get your insights. come back soon. thank you, sir. coming up, we are watching your wallet, we've got a look at the most valuable colleges offering the best financial aid packages, it's all coming up then non-fungible film, director kevin smith's new offer to make you the movie distributor, it's making a buzz this morning. we'll tell you about it when we come back. you're watching "mornings with maria" live on fox business.

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maria: welcome back. getting the most from your degree, with college commitment season underway, value is a critical deciding factor. especially with so many facing economic turmoil brought on by the pandemic. joining me us the u.s. news and world report personal financed tore, emma kerr. it's great to have you this morning. we loving your reporting on colleges. what factors determine whether a school is a good value? >> thanks so much for having he me. yes, so a school's value depends not only on the academic quality of the school, but also their financial aid packages and how generous those are. so how many students are receiving need based aid and what percent of had that aid is

divided up between loans and work study which is less valuable and scholarships and grants which don't have to be repaid. maria: so what about that financial aid? which types of schools give the most generous packages to incoming students in terms of financial aid? this is an important question. >> yes. so we have a list of those best value colleges and those are the ones that give the most students financial aid and also give that kind of aid that is really the most desirable. on that list we've got harvard university topping the list, then we've got princeton, then we've got galet university, yale university and mit. you'll recognize a lot of those names and you'll see there that number at 14,000, 11,000, that's the amount that an average student receiving financial aid pays. so that's the cost of college after that aid is applied. and even you'll notice that galldet, another important number is 90% of students

receive financial aid. that's a huge percent of students receiving that extra help. maria: oh, wow that is an interesting point. that list is really all the ivy leaguers. james freeman, you've got kids in college. weigh in here. james: yes, emma, i'm going to make a request on behalf of a lot of parents, that as you evaluate the value for that tuition dollar, you think about schools this fall that are not just going to be open but are going to require professors of to be back in the classroom and let the kids come back to the classroom. i think there have been a lot of schools this year where they're technically open but it's still a lot of distance learning which doesn't work for a lot of people so i would hope that would be part of it or maybe you're hearing from readers and consumers about what they want for their tuition dollar. >> yeah, and obviously the student experience was so disrupted last year that going

forward that is something that people are wondering, is college worth the cost especially he with the cost of division rising year after year. the most important thing i would emphasize to families is look at your projected salary from that institution in your given field and what is that salary and how does that compare to what you're actually paying for college and that data is all available. maria: let's squeeze mike in here before you go, emma. go ahead, mike. michael: what you just touched on was what i wanted to ask about. average starting salary for graduates, did that factor into the value equation of the survey? >> it doesn't, but i would point out some georgetown university reports on the return on investment, that's a really great report for a family and the college score card has great data on this, and you'll actually find that the return on investment in the short term is great for community colleges and certificate programs but in the

long term the return on investment you'll notice if you look at the georgetown university data some unexpected schools topping the list. the albany college of pharmacy and health actually tops harvard in the long-term return on investment. maria: by the way, emma, i know you're just looking at colleges but do you have any insight on how much salary kids will leave on the table because of this year of not being in school and being forced to do the virtual learning? >> you know, we don't have specific data on that quite yet but i will say that more students are able to receive financial aid this year and it's actually more negotiable than ever. they can appeal for more financial aid if their family had a situation such as a job loss. so there are options out there. maria: all right, emma. great to talk with you. thanks so much. emma kerr joining us. >> thank you so much. maria: we will take a break. when we come back, not leaving the comforts of home, why more millennials are staying put in their childed rooms, it's all

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maria: welcome back. time for the morning buzz. forget about the empty nest, a record number of millennials are living with a parent, research shows 52% of adults ages 18-29 were living with a parent in 2020, a level not seen since the great depression. michael, that's over 26 million people. but let's face it, during the pandemic i think some young people said i don't want to be in big cities, i want to go back to my home. i don't know if it's fair to just look at 2020.

michael: well, maria, i think this is a sign of the times. it does remind me of the summer after i graduated college and for three months i was sleeping on the top bunk of my childhood bunk bed. but i say when you have -- when we print the money the way we're printing right now, you hyper inflate financial assets making it more difficult for people to go in and purchase a home and then higher taxes, higher regulation is going to make it harder for people to acquire the capital needed for extended down payment or larger down payment than they would have previously needed on their -- to go out and buy a l home and get out of their parents' basement. maria: yeah, it's hard, james. james: yeah, i mean, in another circumstance i might take the opportunity to make fun of the generation that got participation trophies and "failure to launch" and that sort of thing but i think in this case you're right, a city like new york city which basically shut down over the

last year, it's fortunately coming back to life now but for a young person who got a little shoe box apartment with the idea they were going to be spending a lot of their time at work or out on the town, all of those options closed to them, i think it makes perfect sense to find a better arrangement. maria: all right. we'll be right back. stay with us. (vo) ideas exist inside you, electrify you. they grow from our imagination,

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maria: good friday morning welcome back thanks for joining us. i'm maria bartiromo. it is friday, april 23rd 8:00 a.m. on the button on the east coast bracing for higher tax as you heard first president biden will proposal doubling the capital gains that is on top of raising income taxes markets this morning bouncing off the lows, edging up after sell-off yesterday take a look dow industrials up 9 points nasdaq up 24, s&p 500 up 7 1/2 this is actually off the best

levels of the morning, stocks are looking to recover after concerns over capital gains tax increase caused a major sell-off yesterday averages tumbled nasdaq down 1 # 1 s&p was lower by 38, european markets this morning are slightly lower take a look, fractional moves pretty much across the board, ft 100 down 35, the dax in germany lower by 79 in asia overnight mixed story here as well, most of the averages fractionally moving hong kong was up better than 1% "mornings with maria" live right now markets policy and reacting futures higher this morning after decline yesterday, investors pulling back as president biden plans to raise capital gains tax rates to 39.6% a double from where they are right now joining me right now the queens college cam braij president, mohammed el-erian all morning long is michael

lee and james freeman great to see you mohamed thank you so much for joining this is morning, and, weighing in here, your thoughts first on the backdrop want to ask your thoughts on the economy, with this expectation of 9% growth gdp in 2021, how have earnings season been, and has that changed your outlook for the macro story. >> thank you the economy is very strong, the recovery, accelerating, we will see 7% growth among the best frormz in the world we will be a locomotive for the global economy, in terms of earnings they continue to come in strong, and continue to show you that u.s. corporate able to adjust to a very difficult situation, and now path is clearer, the big uncertainty out there is policy. you mentioned fiscal policy

uncertainty also monetary policy uncertainty. maria: what about the higher taxes to come, mohamed obviously, this market remains near record highs, even if we are looking at -- a sell-off here and there, we are pretty close to unchartered territory, does that change when taxes go higher? >> a i don't think so i don't think should be that surprised i understand why a knee-jerk reactionary people worry may be stock market will be lesstive may be people sell ahead of new taxes i think most people revise there is a long process involving congress, so it is not clear what actually is going to come out on capital gains, successly not underestimate strength of this economy i don't see a major headwind what i do worry about mar you and i have talked about this last two months the illiquid the market has been conditioned to expect a lot from the fed. now good news so far the fed

has signaled that it will provide it will continue to provide a lot but keep an eye on that. maria: yeah. yesterday we saw canada central bank of canada begin tapering or talking about it people wondered is if beginning of central banks beginning to taper back in focus thank you european traditional intiefrng president christine lagarde announcing central bank will keep stimulus measures in place lagarde said europe will likely enter a period of recession this year when covid-19 cases increase canadian central bank striking more optimistic tone pointing to potential end of stimulus mohammed, what hear from canada what are you expecting to hear federal reserve when it meets in this upcoming next week. >> so canadian recollected one economy picking up second

imbalances they indicated that they could start to taper. this is what we should be doing, because we have also financial imbalances but that is not what fed is going to do, next week the fed is going to tell us that the outlook improved and that -- we have to wait till june to see if some movement within the fomc i don't expect much this was become outcome based fed anything likely to be late. >> that is interesting your assessment of the federal reserve, you said we should be beginning to taper, but we're not why not mohammed? >> a well, we are not for two reasons, one is that the fed has changed its framework it went from cost base we hadover from to outcome base want to see inflation and want o to

see inflation persist for a while. i understand why they did that don't believe the models rieshl a history of being too low let's not forget policy acts with a lag that is that, and your realities, the market faces fed if anything will not be premature it will be too late. maria: i want to ask about spending let me get michael in here michael lee. >> hi mohamed. over the last 12 to 14 months we've seen a dramatic increase in the money supply however, the o velhe ocity with greater amount with increasing so much so fast how do you see inflation, on the honor? >> thanks michael we can have -- the first two benign third one we have to worry about, we are going to have to effects we are starting to see it then we are going to have the fact demand is going to

accelerate much faster than supply, and then we are gonna have the supply bottleneck we are getting a sense now that these are multiplying in different sectors i i see inflation up wouldn't surprise me if 3% quickly i don't see nation coming down as fast as fed comprise transitory i think much more inflation issue out there than what is in the fed right now the markets for now, is respecting the fed. maria: part of it all this spending right republican lawmakers have now unveiled a lower price package they are talking about 568-billion-dollar counteroffer to president biden two and a spending lan the gop will alow allocate 300 building roads bridges more

than 40 billion for public transit, this is expensive package too, 600 billion dollars, versus 2 1/4 a trillion-dollar spending plan what are thoughts on impact of more stimulus thrown at this economy? >> so i think that it effects if is it stimulus to infrastructure enabling physical human technological resources do better that is fine the growth, many by able to accommodate the higher debt that comes from this but i do worry that some of the spending certainly in terms of relief while necessary hasn't gone into building full capabilities the other thing i would say, maria lets not forget average household has a lot of things right now pent-up demand so likely to get public demand private demand hitting this economy at the same time. >> it is a good point quick mohammed before you go, given

all the things that we're talking about inflation, spending, to higher taxes, would you be buying stocks right now or do you want to take to sidelines for a bit? >> i would wait i would expect a lot more volatility, these markets are stretched in segments i would wait for better entry points. >> great to get insight thank you sir we will see you soon mohamed el-erian joining us much more to come wisconsin sno run a johnson here to discuss growing border crisis what -- hopes to see from biden administration, jean-paul mitchell systems cofounder jean-paul dejoria to explain what is the texas home buying market everything you need to know ahead of sunday's biggest night beach house boom why now is the best time to rent out your cove by the beach you are watching "mornings with maria" live on

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you're taking. the most common side effects are swelling of te arms and legs and confusion. we spoke up and it made all the difference. ask your healthcare provider about nuplazid. maria: welcome back republicans are unveiling a counteroffer to president biden two 1/4 trillion-dollar spending plan 568-billion-dollar proposal is focusing only on infrastructure, with nearly 300 billion spent on roads and bridges more than 40 billion on rebuilding airts more for railroads water facilities public transit democrats call proposal nonstarter wisconsin senator on budget he foreign relations homeland security committees ron johnson it is great to see you this morning thanks for being hesh why do you this i the democrats are calling this plan a nonstarter. >> good morning because they

are operating in one hundred percent partisan manner good news i listened to previous guest for republican plan you wouldn't have to borrow any money when we passed 1.9 trillion-dollar most recent covid relief package we still have a trillion dollars of four trillion we authorized in 2020 still unspent, of the 1.9 trillion dollar covid relieve package 721 billion dollars spending fiscal year 2022 and beyond, so what i would suggest we carefully take a look at whatever we already passed as covid relief, figure out what is not yet been spent, and spend that monday in infrastructure, this economy is already taking off. and as mohamed was talking about, inflation is heating up, and we need to be careful about that from my standpoint, you know i am a for infrastructure roads bringz ignored far too long we've over authorized spending let's repurpose that amount of monday don't have to borrow don't have to further mortgage

our children's future. >> some point that borrowing will create unrest, and markets you know have not focused on it yet when they do sort of causes a cycle the agenda seems democrats are in control, they are the majority, in the house the senate, and running the executive office their jamming through as much as they can you have so-called covid relief bill 2 beginning of the year 1.9 trillion only 10% related to covid, now you've got 2 1/4 trillion-dollar plan calling it infrastructure only whatever it is 12 or 20% is infrastructure they want to pack the supreme court turn d.c. into a state, they want to raise taxes, by some four trillion dollars and getting it all through how do you see things are they going to use

reconciliation get it through jam while they can. >> radical left wing socialist agenda people like me warning america about prior to november 2020 election, you know what is fright benning this maria, people are already suffering from all this borrowing, if you are retiree, and you are on fixed income what kind of return are you getting on savings? and inflation takes off those same retirees going to be harmed people in lower end of the spectrum harmed consequences to all this deficit spending growing debt. maria: over the near-term year going to see a sell-off in the markets when joe biden, confirms all this one might have sources sent me a note he tells me the dividend rate will also nearly double, for anybody with income up to one million dollars, the capital gains tax rate and dividend tax rate could dedecouple

first time since 2003 if you open a company paying dividend you pie almost 40% for any gains because the company bid a dividend? >> that is what it soindz like, trying to do, and, of course, that will have a -- a very negative impact on the stock market, when will reduce wealth of america further contract he certainly put a drag drag on our economy president biden, basing reversing all positive policies of president trump, over regular lateing the economy what they are doing on border dismanhattan looupg i think what worked to reduce the flow of unaccompanied children, and family units, that are subject to those deprivations talking to jason chaffetz about what needs to be pointing out vice president harris on my committee fully aware of the human toll of their border policies reversing all success policies

of president trump i hope america is paying attention. >> it doesn't make sense you went to the border saw up close and personal tried to sell you top staking pictures now vice president kamala harris is emphasizing that it is the root causes of the migrant surge says it is a complex issue lifting a number of factors making people flee their countries listen to what she said yesterday where as a if new information, watch. >> we're looking at drought, we are looking at -- uh what is happening in terms of food scarcity as a result of that we are looking at a number of issues that relate to poverty, extreme poverty, also, violence obviously, coming out of those regions. maria: so, so far the administration has just been building new facilities to house everyone, rather than stopping the actual flow and going back to return in mexico, and getting that wall built your reaction to what you heard from vice president the fact she is not going to the border just going to meet

with heads of the triangle. >> she is last person would i put in charge of border security security was completely uninterested in it when serving on my committee biden administration letting out no bid contracts to political friends, house migrants you can't take pictures but over last 28 days we have apprehended on average 5900 people per day, that is a caravan a day, this crisis is getting worse. but, again, the biden administration knows full well exactly what the impact of their policies are going to be. the human sex trafficking the fact they sell children we held a -- hearings child was sold for 84 dollars, throwing out -- interinterdicted biden administration knew warned if reverse policies this crisis will take off we have heard

about factors those have been there the pull factors incentives, the fact that, all the presidential candidates on democrat said would of our free health care not support anyone that is what sparked latest crisis this is worse than anything we've seen before in the past. it is man-made. he by the administration. >> created by policy, you know he reversed all policies totally understand, look, the media is enabling this, that not telling the american people what is going on politico told staffers yesterday don't call it a crisis what are you going to be able to do in senate house passed legislation yesterday to make d.c. 51 as it state along party lines, senator, what is going to happen there? in the senate are you going to be able to stop this are you able to stop h.r.1 are you going to be able to stop some radical policies that are impacting american families?

>> i know republicans are praying for you encouraging good health of the joe manchin kirsten sinema hope at the on promise maintain 60 vote threshold for passing very partisan legislation the house is passing biden administration certainly encouraging, our freedoms our democracy hang by a thread that thread is joe manchin is considering extend sinema hope they honor their promises. >> has there been any policy out of new administration help to the american people in your view? >> i haven't seen any, look, let's face it when you spend trillions of dollars you are going to help people no doubt about it, built the problem in this is why we are 28 trillion dollars in debt will be in 30 trillion dollars in debt by end of this fiscal year it is popular to give away, other people's money or more than we do don't even have people love benefits the impact the

consequences just aren't showing up when you start seeing signs nation realizing how horrible this is for seniors on fixed incomes, you know consequences policies come home to roost. >> all right senator thanks for leadership on all this senator ron johnson we will see you soon, and we'll be right back.. ♪ ♪ ♪ ♪

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maria: welcome back, summer is fast approaching and beach houses already seeing a rental boom, on the jersey shore this morning, in springlake new jersey lydia good morning to you. >> good morning to you maria let me tell you if you own a beach home now would be a great time to rent it because you can really net a premium with sky-high demand low

inventories, from jersey shore more than an hour outside new york city realtors tell us there are 1200 homes in this community all completely booked for the summer, except for as you, inventory so low listen to this. >> we are so busy a couple my agents have done 30 rentals this year summer rentals, i think we've been found i think we are -- treasure here at jersey shore found out by urban private. >> the prices are soaring usually a home in this beachfront community would run 27,000 dollars for a week that is before the pandemic. now netting close to 35,000 dollars per week, and that price increase seen in other regions too, in hampton island

20, 30% % above what unified to homes near double what they used to rent for cause, people that own these beach community homes staying in them not leaving can't rent them out listen to this. >> there will be people that come every year in that, prebook, in advance, but it has been even more so, since covid. from whenever someone can get it if something available they book it three, four, five months down the road. . >> the flaerng airbnb rural areas are also seeing sky-high demand west virginia earning 2,000 dollars more on average, than before the pandemic because, there is just record demand for vacation homes. back to you maria. maria: all right lydia thank

you so much lydia, joining us in jersey this morning, coming up jean-paul mitchell systems cofounder jean-paul dejoria here, and blasting off, spacex sends four astronauts into space again. and this time using a recycled rocket we will tell you about it when we come back. ♪♪ lately, it's been hard to think about the future. but thinking about the future, is human nature. at edward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones.

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when you post your first job at indeed.com/bike. that building you're trying to buy, when you post your first job - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum! thanks for joining us. i'm maria bartiromo, friday, april 23 a look at markets this half on a hour ahead of opening bell dow industrials negative 32 points the nasdaq higher by 23, s&p 5003 points off the earlier highs, certainly, but a little bit of

a bounceback after yesterday's he sell-off that on president biden's plan to nearly double capital gains tax yesterday markets down in triple digits european markets lower investors monitoring more economic data, and earnings reports to end the week ft 100 down 412 cac quarante down 34 dax lower by 141 in asia overnight more than mixed story take a look, best was in hong kong hang seng up better than 1%, this imprisoned russian opposition leader navalny is ending his hunger strike. >> breaking news out of russian navalny ending four people hunger strike doctors warned could be nonlife-threatening to him posting news on instagram will continue to demand a visit from his on doctor to address a loss of sensation in legislation and arms longtime critic of vladimir putin serving 2 1/2 year sentence massive protests this week in

russia demanding his freedom. more than 135 million people live in polluted air new report from american lung association nearly 21 million had to live in areas unhealthy levels of particle pollution that is things like smoke, dust. while more than 123 million people live in places with that ozone pollution according to world economic forum that air is costing u.s. 617 billion dollars in damages every year. >> is this toy maker mattel a boost from parent looking to entertain kids stuck at home and using their money from stimulus checks mattel sales soaring 47% last quarter revenue reaching six-year high, are he first quarter typically-week period for toy sales following the busy holiday season different year mattel as you can see stock up 7% premarket.

rideshare drivers reportedly getting a pay boost as demand increasing lyft drivers like denver philadelphia making between 43 and 44 zwlarsh dollars per hour according to report in the post this morning uber drivers new york city earning 38 dollars an hour, this pay is nearly double what drivers earned before pandemic in part due to new incentives to help get more drivers back on to the road both of those stocks in premarket maria uber hire by #/4 of a percent lyft up more than three-quarters of a % back to you. maria: we've been talking about taxing capital gains, increases in taxes that we ever expecting, the white house is considering, underlie doubling marginalal rate on capital gains from 20% to 39.6% those making more than a million dollars a year in states like new york and california, will see their rates hit closer to 50%

joining me right now you john mitchell systems cofounder chairman john paul dejoria thanks very much for being here thoughts on higher taxes coming and impact on business and individuals, you founded a business, grew it built it, tell us the effects that taxes as they go higher, have had on your business, and what you are expecting to come. >> well we look at coming out of shall we say pandemic year a lot of things went wrong a nephewed people from california and new york coming because of politics taxes, look at companies so far we are able to hold our own really, really great but as you increase taxes, on corporations, as you increase taxes on people, they are more reluctant to hire more people, or to invest very, very short term on things that could

benefit everybody look at look what we are going through i am going to hide more money if putting it some place protect it more not as loose as investing to grow an economy or their own businesses instead looking at if taxes go up where do i cut raise prices, to adjust for the extra money not getting used to running results inflation, and many, many cases, sometimes you have to lay people off, now that is not case of paul mitchell never will be but most cases a lot of people this will be the case. maria: just looking at what could be the impact on the market, if you've got a portfolio that you made money if you sold your home, you probably want to sell now rather than 2022 because going to be taxed double the rate from 20 to 40%, this is an important point, because most people are telling me they

expect these tax increases will not be retroactive to beginning 2021 he most wall streeters sources i have spoken with expecting increases to hit beginning of 2022 if the case would you expect a good o sell-off in stocks by end of the year, of course, i want to sell under 20% tax gains rather than 40%. >> one hundred percent correct i am going to will probably be one of them that is going to be doing it the effect look what is happening in texas with people leaving anticipating tax increases, five major corporations left california moved to texas, in 1800 businesses went out of business in california. people moved out of the businesses went out of business when i talk to people that are coming here asking, what is the main reason you are coming here for especially those that have businesses they are actually moving right here they said we don't like politics we are being over taxed we are getting out in fact last year when announcing

california going to increase taxes again and wealth tax they had an onslaught of people coming to texas what they have to realize this is california world united states of america when you over taxing people to leave or have businesses leave, or themselves permanently leave all of a sudden of your tax base is gone good lucky california in years to come all corporations that paying taxes wealth people are gone, not just wealthy people, the middle class people working class are leaving also they don't see a future in california. big exodus, from new york city is there a boom in tornados a big boom here in factor who homeless coming hear we have answer to homeless good part a very good answer on this. maria: could i want to ask about that answer but this is why i always say, money is mobile, money will move where it is treated best, and you are talking to tees after you

tip travts county jumped last year downtown austin alliance more than 1.5 million square feet office space to open by the end of the year, j.p., how do you expect the austin metro area to grow next five to 10 years? this he changes cities he changes states by the way, just an ideology -- new york got a huge bailout from 1.9 trillion-dollar covid quote unquote package california got a bailout as well still have raised tax, even though they got a bailout to end the holes in the budget. >> bad management. what is happening here in austin the average house is on the market, and sells in six days. that is how market is very beautiful properties like discovery project, south of you austin 20 minutes-million-dollar plus

lots inundated from people from california new york to be able to build here anticipating what is going on what would one huge stockbroker, beautiful house in beverly hills moved year to nevada there is a big exodus people have to realize this is going on right now, texas is a beautiful place to come to, because it is welcoming everybody, you are not over inundated you have to do this you have to do that people are very ee love it here helping one another schools are incredible that is why, i moved here 21 years ago. >> you said you have the answer for homelessness. >> we sure do. >> earlier this year you and wife donated two million dollars, to found a chair at dell medical school university of texas to improve health services for at youin's homeless saying your goal was quote in 12 to 15 months we don't see tents under friday

anymore. >> right. >> how is initiative going what a wonderful thing i and your wife did. >> it is going great, we vested several years ago in our community, a group called community first part -- we built 240 little houses, put homeless people in them, gave them a life where they had work they could do get food have gardens charging them 90 dollars a month like to have handout they have a handup, but we he create crafts things to do to come up with 90 dollars with a little bit extra for themselves we are now of starting phase two, 300 homes about 50 done right now phase three phase four total about 2000 homes. this gives homeless people dignity a places to go to instead of under a bridge dell medical center was a big problem with virus going around, so i donated money others pitched in to address medical needs then i went met with them what now, now virus

going over with how about needs for future what can i do to make sure homeless have medical care and assistance and those are very vulnerable in the future said if you don't mind debting a couple more million dollars to university of texas dell medical center we can create a chair forever all we do is concentrate dr. mercer setting up with dr. johnson concentrate what do we do for homeless to overcome their issues treat them once we've done that what next how do we do it better how do we do it better the program goes on forever in other words, not a band-aid we have housing, we have food, we have a way to get back in the community again, and now we have medical care by one of the finest universities on planet that is ongoing forever, this addresses it no disrespect to local government in austin we found ways that permanent don't stick -- putting in private area there, almost

like a jail give them a house to live in little but beautiful a community, where you are loved you are respected you don't feel like you got to have that you got to have that let us teach you wood shop auto shop craft shop going for it right to the community done by we, the people maria we, the people are doing it not the federal government or the state government. >> i love what you have done pick up the phone call leadership in san francisco, and los angeles attach them a thing or two about what useful done in texas to get money rising to do the same great to see you this morning and thank you, for all that you are doing john paul dejoria we will see you new oscar season everything you need to know ahead of hollywood's biggest night sunday night don't miss it you are watching "mornings with maria" live on fox business. voya doesn't just help me get to retirement... ...they're with me all the way through it.

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. maria: welcome back. looking ahead to films this weekend 93rd academy awards sunday in predictions now joining me "fandango" correspondent, thanks for being here let's start with best actor who doubtful as top pick. >> -- definitely kevin for legacy body of work won pretty much every award during the entire season, i really believe he will be awarded posthumously, of course, the only person i might see taking

from him could be anthony hopkins for the father 83 years old has not won since silence of the lambs but i believe it will be chad white-collar. >> how do you pick for best lead actress. >> the tightest race really what awards season should be about and that is the fact that we really don't have any idea who is going to take best actress, every actress in this category has won a major award this season, carrey mulligan won independent spirit awards last night i think going to be viola davis will win for the first time for best actress already won for best supporting but i think this is her year is a great campaigner out there really wants this deserves it. maria: how about best supporting actress? >> so i think this is going for minari, kind of considered

to be meryl streep of south korea people didn't know her in america i am told this but impact to greene actors guild award care of the who is going to win oscars i think going to win watch out for glenn close 8th nomination i talked to one voter side for that reason so overdue voting for her she is dark horse. >> best director i think for the very first time or for second time oscar history a female going to win the category, for no-man's-land swept every award show this season every award big and small going to win for no-man's-land. >> last but not least the best picture thus what do you think, this is you know, you never know because the way oscars vote for best picture

not like other shows just pick off favorite they use an preferential no madland threading throughout season rv on cruise control not slowing down i think no mad land will win, general he audiences have taken to it at top of the streaming charts past several months people had the opportunity to watch it because, of the delayed season i think no mad land zefshgs it. >> do general audience care ratings for oscars have been dropping like a with a look do you expect in terms of viewership last year 23 million in viewers this year golden globes down 60% grammys down 50% a fantastic show that

they put on, i think the oscars, they have sold out all their ad revenue announced yesterday sold 140 million dollars ad sales shows interest by big advertisers, the committee award director producing the show said this isn't going to look like any other award show you've seen making it feel look like inventory a change in venue shot at union station downtown, and of so we will see a different hoef people tune in thanks maria. >> we will see, thank you. we'll be right back. 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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welcome back time for morning buzz lifting off into the cosmos spacex launching four astronauts into space this morning making history as first time spacex used a recycled rocket, 3, 2, 1, liftoff godspeed. >> from cape canaveral just before 6:00 a.m. this morning, carrying astronauts from u.s. japan and europe, they will spend six months on international space station, before returning in october, michael, i got chills your reaction? >> a another amazing accomplishment from elon musk and his team. you know i just wish he could relaunch my dogecoin so could i sell higher than it is right now. >> have [laughter]

>> james what do you think? james: big win for spacex won a big contract from nasa lunar landing, taxi coming soon for astronauts that is also continuing with theme of the morning those rockets are recycled he tested in texas even though companies found in california, so, bottom line yenning he think newt inside in texas i love u.s. in the lead we will look for it more "mornings with maria" live on fox business right after this, stay with us. ♪♪ ♪♪ this is wealth. ♪ ♪ this is worth. that takes wealth.

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>> james freeman. workers are going to pay the price if washington raises taxes on capital. less investment, less productivity. >> i hope it doesn't go through. >> have a great friday and great weekend. stuart: good morning, everyone. we are back to the fair share the bait. they are reluctant to say how much of your money the government will take. the biden bernie aoc tax plan has been leaked. and the most important is a doubling of the tax on capital gain on stock and real estate taxes wealthy people in business owners may be carry