tv MONEY With Melissa Francis FOX Business September 19, 2013 5:00pm-6:01pm EDT
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why she was against let it be as it is policy the fed was about. liz: "money" with melissa francis is next. david: hope to see you tomorrow. tune in. it will be a busy day. liz: bye now. melissa: i'm melissa francis and here's what's "money" tonight. fox sits down with syria's bashar al-assad. he said he is ready to give up and destroy his chemical weapons. there is just one thing. he wants the u.s. to pay for it. will taxpayers forced to pick up the billion dollar tab? plus more than $2 trillion has been migrated across the u.s. going where it is treated best. which areas are bleeding red and which are swimming in green? the man with a visual presentation like you have never seen it before is here to break all the numbers down. and "who made money today?" he just scored more than $300 million. stay tuned to find out who it is. even when they say it is not it always about money.
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s. melissa: some new developments tonight on the situation in syria. secretary of state john kerry spoke a little while ago saying the agreement made in geneva last week must stand with a strong support of the united nations and global powers. but russian president vladmir putin indicated earlier today that he is not convinced syria will in fact turn over its stash of chemical weapons. fox news's leland vittert is in jerusalem with the latest details. leland. >> reporter: melissa, the russian president says he thinks but he is not exactly 100% sure that his syrian ally will end up giving up all of their chemical weapons as promised. remember it was the united states and russia that brokered that grand deal. still president putin of russia is defending the syrians and saying he has evidence that it was not the syrian government behind that deadly
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august 21st chemical weapons attack. the world has largely blamed the syrian government because of the type of nerve gas that was used. sarin gas was highly military grade quality making it much more likely it was the syrian government. putin says that is just not true. he believes it was the rebels there inside of syria. speaking of the rebels inside of syria, more bad news in terms of the infighting between them. just today one of the al qaeda-inspired jihadist groups took over a key town there right on the turkish border. it was held by the largely secular rebels. now it is the jihadists that hold that town. it is just one more showing of the core issue that is here to the u.s. in terms of the situation inside syria. while president assad is certainly committed some horrific atrocities along the way of staying in power, given the jihadists, how well-equipped they are, how well-armed they are inside of syria, the replacement of president assad if he ever leaves may not be any better. in fact could be worse.
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melissa, back to you. melissa: so clearly the cost of this intense situation over syria is dire both in the loss of lives and financially. syrian president bashar al-assad sat down with fox news yesterday at the presidential palace and had what some considered to be the audacity to say that the u.s. should pick up the billion dollar tab to rid the regime of its chemical weapons. listen to this. >> it needs a lot of money. needs about one billion. it is very detrimental to the environment. if american nation is ready to pay the money and take the responsibility of bringing toxic materials to the united states, why don't they do it? melissa: wow. saudi jasser, president and founder of the american islamic forum. he joins me for his reaction. what do you think of that? >> melissa, i'm horrified of
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every bone in my body basically thinking about, basically hitler telling us he will hand over the gas chambers and that is all we're looking for and we should pay for that. ultimately here you have a tyrant killing his own people and been able to change the narrative through his pr machine from charlie rose to "the new york times" and putin, now unfortunately with his interview with his pal dennis kucinich, ultimately turned the narrative being about genocide and war crimes and regime change to basically being how do we mobilize chemical weapons. oh by the way, let the americans pay for it. no, not the iranians that are putting billions into his killing machine or the iranians that really were victims of the same chemical weapons in iraq. melissa: i hear your outrage, absolutely, but if you went back in time to the day that these chemical weapons attacks took place and you said, u.s., if you will pay $1 billion i will stop this and give you the weapons, that sound like extortion. if you're the victim of these weapons and they say, we'll hand them over for a billion dollars, you don't think that is tempting
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or worth it? >> no. because that is a facade. it's a mirage as to solving our problem. the problem is the terrorist state of syria and its terrorism upon its citizens. it's a vacuum for hezbollah, for iran. that is the problem. the fact that they hand over chemical weapons, they can produce them again later. they can shift them around. certainly may be one of the problems we start to solve but those chemical weapons stashes will take a long time to mobilize and there are 1,000 and 2,000 a week dieing and i think america's moral standing in the world, we're being seen right now as being, look at this interview. it was posted by the syrian government on their website. there is nothing about it that assad himself is embarassed to show and part of his propaganda. and look at iran. iran today -- >> talk about his propaganda. you don't think it allows the world to see him the man he really is, for example, let me play the sound bite about his response to dennis kucinich when he asked him about the chemical
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weapons. listen to this. >> so just to summarize, you do have chemical weapons? you're prepared to go along with the plan to, to destroy them? and that you are prepared to, to cooperate with the international community in that? >> again as i said, what you mentioned all are part of the international agreement and when we agreed to join this agreement we want to fully cooperate with this agreement, not part of it. i think this -- melissa: zuhdi, seeing a sound bite like that helps your case because it shows a man who seems duplicitous, who doesn't seem like he is being sincere, who doesn't seem like he is telling the truth and maybe somebody we shouldn't be makeing a deal with. you don't think it advances your cause out there saying things like that show himself in his own words for who he really is? >> i think ultimately if it is part of the picture, yes but that is the only picture and many are saying well, he might
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seem crazy and might seem a little hypocritical and lying but what else is there? the other part of the picture not being shown, millions of syrians who will never be satisfied with a political solution, that want freedom because they laugh at everything he says because it is purely pathologically lying. ultimately many americans are being introduced to syria and only seeing this and by this, you know what? without him we'll be left with al qaeda and not seeing other part of the story. melissa: i don't know who gets swayed by the man we saw in that video. let me also play for you what secretary of state kerry said a short time ago and get your reaction to that. >> let's not spend time debating what we already know. instead we have to recognize that the world is watching to see whether we can avert military action and achieve through peaceful means even more than what those military strikes promised. the complete removal of syria's
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chemical weapons is possible. >> what is your translation of that? what does that mean in action terms to you? >> well, in action terms imlistenning a week ago we wanted to punish him. that the world can't sit by and let weapons to be used without punishment and maybe a decisive blow to degrade his capabilities. now we're talking about it was basically to remove the chemical weapons, would take a year, a lot of costs and how do you do it in a civil war environment. seems as if we're stepping back. we're more of a paper tiger. we're letting assad and putin decide what the foreign policy is. meanwhile, melissa, iran is starting to say we want to get rid of our nuclear weapons too. this seems to be working. we can get america to go down to its knees promising the moon. meanwhile doing things internally and lie. exactly. melissa: zuhdi, thank you, we appreciate your point of view. thank you for your time. >> thanks, melissa. melissa: next on "money," the reviews are in and not all
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glowing for the new iphone, ios-7 software and disgruntled on the attempt to download it. should women bail on business school? a new op-ed said it's a complete waste of time and money for us. we'll set a all-star panel loose on today's big money talker. tweet me where you are. "piles of money" coming up. ♪ ♪
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melissa: a bitter taste for apple today as the tech giant rolls out its new ios 7 software. some users are fighting back. here to tell us why. foxnews.com science and technology editor jeremy kaplan. thanks for coming back on. people are really angry about this. one person said, it was funny, not as quite as angry. not sure i want ios 7, makes your phone look like fisher price toy. nothing wrong with that. not enough memory to download
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ios 7, sayonara, wedding photos. those are nice and funny ones. some were obscene and not fit for air. people are not happy, why? >> opening day of jitters. 20 million people are trying to download at exact same moment. melissa: didn't happen last name. >> didn't happen last name. very good point. still will be small problems they will work their way through. that is not too big of a deal. the bigger deal is everything else that surrounded this whole launch. melissa: okay, like what? >> where to begin. the 5s, for starters that is the fancy new high-end phone is not all that exciting. the first crop of reviews came out yesterday. i will have my hands on one tomorrow. i will brit i it down to show you. melissa: oh good. >> only so cool. melissa: only so cool. so it is not supercool? it is only so cool? >> they have to would you us, don't they. they have to drive you out to the store saying i got to have that. it is not just there. melissa: you say it won't be a big hit this time around?
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>> one of the things that is very interesting, most telling points, apple almost always release ad little statement before the phone goes on sale that says, 5 million preorders, 7 million preorders. we haven't seen a single number like that from apple. melissa: interesting. they haven't said anything? >> draw your own conclusions. not really selling? i don't know. melissa: people say this is neither evolutionary or revolutionary. that is not -- for apple you would be like, another product you would be okay, but for apple it generally is both. >> company invented, turned around the whole smartphone market, gosh. and the other thing here, the 5c, colorful plastic one which everyone was first thinking this would be low-cost thing. you have markets -- melissa: c stood for cheap i thought, no? >> exactly. it is cheap, er. $99 here in the u.s. abroad where everyone thought they would have massive markets in india and china it is hundreds of dollars. i heard in australia it will cost as much as $862. how is that cheap? melissa: people still have it
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everywhere. no matter how much we trash talk it still continues to dominate. we have photos. people lining up this is apple insider. looking outside to see if people are lining up. not as much as usual. there you go. see them in new york. not as many as usual out there doing their thing. it is still apple, yes? no? losing its luster? you tell me. >> i don't know. i'm still skeptical. the weird thing to watch the stock price here, right? melissa: yeah. >> when the iphone 5 came out the stock was at its high point, $700. it crashed over last year to 450 or so. melissa: 472 today. >> it is up a little bit today. people are anticipating sales tomorrow. i think it would go up a bit. melissa: we saw the stock, looking at it now, went up percent 1/2 ahead of first day sales. you think that is mistake, forget it, let's get out. >> i'm not an investor i don't know. as a tech guy i will tell you this. i don't think it is half as exciting as every other
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smartphone on market. there is nokia phone with 41 meg pixel camera. how maya kulicky is that? melissa: i'm blackberry. i'm way behind. i have apple everything else. jeremy, appreciate it. >> my pleasure. melissa: coming up on "money," are women wasting their time going to business school? a controversial op-ed suggests just that. especially women that give up never working outside the home. wait until today's talker. very controversial. five years and counting, keystone pipeline celebrates the most unhappy of anniversaries today. how close is transcanada getting the okay to build it. the company's president is telling us what a big mistake we're making. much more "money" straight ahead. ♪
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melissa: on the heels of princeton alumnus susan patton telling female students to use college to find a husband, another controversial commentary by writer laura hemphill, poses another big question is business school worth it? the new harvard study says the cold hard truth that many women in business school drop out the workforce within 10 years of graduating to get married and have kids and marry men. should we bag b-school all together? former treasury department advice, susan och. to represent the male voice here, good luck with that one, defense attorney adam thompson. adam you will need the lawyerly schools here.
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when you look at this, fewer women went to business school. 3% of the class was women. then a much higher percentage then didn't work, once they went through business school. and you have to ask the question, given that it is almost $200,000 to get it done, is it worth it? susan, go ahead, what do you think, as an hbs graduate yourself. >> yes, i am an hbs grad, i have to say my experience was dramatically difference than the profile people were talking about, kind of a frat house atmosphere. i felt supported and encouraged by a lost men there. i thought it was a great experience. really broadening pour people. you learn a lot of good schools. the tree truth is, women are actually changing the dynamics of workforce. a lot do drop out to have children and a lot come back and they're reilly creating new, dynamic ways to build new firms that sort of focus on ways people want to work in the 21st century. melissa: this struck a chord with me because i happen to
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anecdotally have at love female friend who went to harvard and stanford business school who are not working and went through the whole business school program, worked with their own business and home full-time with no real fight of going back anytime soon. what do you think of this? >> you and i both have those same friends i have to as much as i respect and love susan, i have to say that you know, according to the intuit spending index people are spending 40% more on education between 2011 and 2013. why would you want to spend all that money when you could get the same experience just, start h starting own business, getting entrepreneurial experience and especially for women, i think a lot of us, during the recession, we started our own businesses and we got that experience. so, the only time i would think to advocate forgoing to business school is if you were in an industry where you, a, don't have the contacts in finance and you want to transition into it and want to learn those schools. if you want to go, going to
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business school just to learn the basics of starting a business and the strategy -- melissa: there are a lost jobs you need the pedigree for for sure. we hear your point. adam, are you feeling brave? ready to way in here? what do you think? >> always ready to rock. i think the panel both, they both make a good point. i think the big issue here is are the getting bang for your buck if you go to get an mba? having gone to law school which is three-year program you don't really need three years. so one issue has to be addressed is the length of program really sufficient for what you need to accomplish? after a few core courses, really that's the background you need in law, throw us into the pit so to say. lets go out there and actually get practical experience. i think a the problem with at love programs and mba programs in particular, you could have a great core program but they, give you so many different electives and some other courses to take and drag it out. melissa: you don't need it. >> when you graduate you doesn't know anything practical.
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you're thrown to the wolves and you don't know a thing. if think change the program to make it more practical where you actually get some internships it works. melissa: one of the things that struck me about this, maybe this is business school-specific because of my friend who have families and work, they sort of thought of a career that was a little bit more flexible or was kind of a career where you could get closer to having it all an continue to work and still have time for your kid and husband and your family. i wonder if this is a business school problem where the track that puts you in, ceo-style job is one that isn't conducive to working and having kids at the same time? this is a business school problem. susan, go ahead, being the business school expert. >> i don't actually think it is. if you see the research, what you find is that companies that offer more flex time and and employees can work in their
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professional and personnal goals they, men and women make equal use of flex time and more flexible work schedules. i think we're moving toward an environment where we're trying to make business work better for everybody. you are seeing women come back in higher numbers and do more. come back at, one of her points, entrepreneurship among women seeing much more women start their own businesses but they're much older. they're actually over 40. melissa: did they go to business school? i think her point is you don't need to go to business school to start your own business. >> it can be either way but the point i this is a business school problem. >> the point of this study was saying or this article was saying, women are wasting their time in business school. i say women want more experience before they start jobs. melissa: i will say the thing that will get me in the most trouble here. i don't know if any are brave enough for this. are they going to business school and finding fantastic wealthy husband and that's why they're not working? i'm just asking, i know, i know
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susan. my feminist friend across the country, just putting it out there. go ahead while susan recovers. >> the cleats are coming. melissa: i know. >> i think that maybe they met someone they like at business school. i don't think they are necessarily going to business school to get -- melissa: i didn't say. i didn't say that that is not what i said. that is the environment. that is the point of woman of princeton graduation, women this is your best opportunity to find the best husband. you're here with somebody who respects educated women, who surrounded by i am women who are smart and ambitious. this is the best pool of men you will ever be around. you should get married now before you leave. she took a lost heat for it, but there was some kernel of something in that. if you're exposed to fantastic men and that's why they're getting married and not working afterwards. >> $200,000 just to be exposed to fantastic men. there is great bar downtown and
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wall street. you can do that. >> good dating services out there. melissa: adam, hop back in. wade back in? >> there are good dating services to accomplish that if you're look forge a date. go through unabout of them right now. i don't think people go to any advanced education programs to meet some people. if you are you're there for the wrong reasons. listen, bottom line is this. all advanced education is good if you get it an helps promote push you further along in the business great. but a lot of opportunities and jobses today don't really require it. people are getting advanced degrees and spending hundred of thousands of dollars does nothing for them except hey i got a nice piece of paper on my wall from harvard. who cares? melissa: may have enriched your mind and whether or not you're working as a result afterwards may not be the point t was the education that was value there. i will end on that note. thank you all for being brave and doing that with me. i appreciate it very much. next on "money," it is anything but a happy
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anniversary. five years ago today plans were filed for the keystone xl pile line. it is still not approved. the president of transcanada joins us with the latest where it all stand. plus "who made money today?" he could stuff 300 million bucks into the trunk of his car if he wanted to. wow. i would like that. where do i get that car? do you ever have too much money? thank you. you're ♪ ♪
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melissa: big empty mile step today for the keystone pipeline. it has been five years since transcanada first filed for approval to extend the pipeline. after four government reviews finding that keystone is environmentally safe, the white house still hasn't given the green light. we could be missing out on some tremendous opportunities from jobs to energy independence and what it all means for the u.s. economy. i got to a chance to speak to
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frankly radical idea of getting the u.s. off fossil fuels entirely. they have been able to politicize, we had impact on time of the project. we, just before we started this project five years ago. we completed the permitting for base keystone that is now in service in just over 21 months. here we are at five years and counting. melissa: when you hear the president say the numbers that proponents of the plan are putting out just aren't accurate, and that it will only create 50 permanent jobs, besides tearing your hair out, how do you respond to that? >> you know, i would like to, i would, i always focus on the work that the department of state has done in four environmental impact statements and that exhaustive process. probably the most exhaustive review process a pipeline ever gone through. the president's own state department suggested during construction, this project will support 43,000 jobs in the
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united states. and i would rather stick with those numbers. i honestly -- melissa: he said that is during construction. when the construction is over, the pipeline itself will take maybe 50 people to keep it running and that is all we get out of this. how do you respond to that? >> you know, this infrastructure project is no different from any of the other infrastructure projects that are being pursued all the time. the majority of the jobs that they create are during construction. obviously the operating jobs are not as much but i think rather than just looking at the, at the operating jobs you're going to get, you got to look at all of those refinery jobs in the u.s. gulf coast. those jobs are going to be more secure in that industry. that industry is going to be more profitable and more chances to hire people if they have access to this varied economic feedstock from canada. so the benefits are not just in our people sitting in our control rooms. melissa: or are all the jobs that are created by cheaper energy, all the transportation
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jobs, all the manufacturing jobs that would support, all the stores that would benefit from cheaper energy to get their goods to the final point, what do you think could be said or done right now to make the critical difference? if you had a magic wand and you could get one thing in motion that would put the president over the finish line and the project over the finish line what would that one thing be? maybe we can get it for you. >> i think the important thing, and what we're trying to do, what all supporters are trying to do is just continue to hammer home, to the department of state, to the administration, the job benefits, the economic benefits of this project is going to bring to the united states, and the energy security benefits that this project brings. to go back to jobs for a second, just to put this in perspective, i have seen a number of studies that have said for every dollar invested in alberta oil sands, 90% of that benefit comes back to the u.s. when a barrel of oil is imported from venezuela or
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mexico, that number is less than 10 cents on a dollar. so if you want to talk about bringing benefit to the united states, you want to see that canadian resource be developed. by a lot of those companies are american and a lot of the equipment is produced in the u.s. melissa: no. that is a great point. you are a realistic man and at this point you must have a plan b? you must be worried this isn't going to happen. if it doesn't what is plan b? >> well, i think, you know, we remain very confident that at the end of the day given broad support we have, we have significant support in congress, in the senate. we do have, we are optimistic this is going to be approved but you probably saw the transcanada announced just about a month ago that we're building a very significant pipeline project to move alberta oil from alberta all the way to the canadian maritimes. from there, to be exported elsewhere. and i mean, this -- melissa: elsewhere to asia?
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>> you know i think a lot of this, a lot of oil on our energy project is going to go to domestic canadian markets, to the eastern seaboard. there are going to be, there are going to be imports to asia, i think that is probably pretty clear but i think the important point for americans to keep in mind, denying keystone will not stop development of oil sand. it means canadian oil goes to other markets and americans will continue to import oil from countries like venezuela, saudi arabia, they do not have shared values with. at the end of the day there is no prize to be gained by denying keystone. melissa: alex, thank you very much for your time. up next, money talks and money walks. more than $2 trillion migrated across the country. who is getting ditched. where is all the money going? a man with an amazing visual breakdown is here to show us. you won't believe this, don't go away, because at the end of the day it is all about money. ♪
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go to put money in your pocket? what about another state? millions are relocating to save money on taxes. but is it worth the move? here to crunch the numbers we have author of how many walks. welcome to the show i am so fascinated by this but you may not leave. but your data shows otherwise? >> this is my home state what is happening? >> talk to me about that.
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>> the adjusted gross income in the past 80 years with the irs and taxpayers data file with the empire state is a cumulative loss since '92 through 2009 and $68.17100 billion of its come out of the state coming in over the last 80 years. melissa: is that tax revenue ? >> be adjusted gross revenue over 134 million returns coming from another county or state verses every transaction where "the new yorker". melissa: see you can defer tax revenue went down as well? even as you raise tax rates? >> this is the cost of having a high tax burden. you don't just lose those a entrepreneur sword businesses with in, but also
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of shrinking or contracting the tax base of those who are able to participate. melissa: show us other states that stood out. >> we show new york losing $7,100 every minute. melissa: they're going to florida where better tax treatment. >> the opposite is true for the sunshine state the red states are contributing their income to the sunshine state $96 billion. other big swings from california of loss of $45 billion. the lion's share coming from southern california. with big gains you hear a lot of state competition from governor rick perry, the state of texas gained nearly 25 million over the period. >> you can see where it is going to better tax treatment.
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other interesting statistics talking about the number of people coming from different places that police doesn't represent the whole picture. in new york city they gained more than 37,000 people but it lost $12.83 billion of adjusted gross income. >> america's largest cities are doing things that still attract a lot of folks from outside the u.s. and young workers. but the problem is if you do not keep or retain those jobs to see the per-capita income rise then you can be adding people to your economy locally but losing or bleeding out income. that is what we see not just new york or lowe's angeles also chicago. 536 out more than an end with the illinois but in dollars 29 billion leaving predominantly cook county.
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melissa: looking at this map of the areas that flee chicago and going to other places. >> the only other two states from illinois that are contributing to illinois in this case based on the last 80 years has been in michigan and ohio. wear the green states are all receiving illinois in come at their expense. melissa: who was the beneficiary? >> as a group nine states that can expect to see more work and production besides the sun belt economy is washington state, a very different climate, a wyoming , south dakota, and in the middle of america like tennessee.
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personal income tax, repealing the death and inheritance tax. melissa: talk about the nine states with no personal income tax gaining $146 billion of.com. that can be taxed right away but they are not taxing it is a what is it doing? it is choosing their economy? why should they value that many if they do not tax it? >> personal consumption, a private sector investment, you don't have to look at the results from texas to understand that is the economy we would like for the other 49 states. they are contributing to the overall economic expansion. melissa: i love when said data backs up what we know to be true. if you tax money it goes elsewhere. thank you.
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>> with inside the metropolitan museum of art where one is trying to change the way young people invest and consume large we will show you how. chief hacker, a mark, is trying to make the world of art cool again. >> my name is mark disspirited group gets to know each other. >> i am michelle and david correspondent for fox business networking and i am passionate about journalism.
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and we are off. >> for $39 a person he skips most of the major events to show off chance that you may otherwise miss. it is very old. >> this gives a great opportunity to talk about and why we although her but very few people know why she is so famous. people actually asked me are they beautifully fake? >> places that frequent visitors don't even know about. he was treated museum education says the company's model is to redefine the traditional museum. >> it stems from realizing for a massive encyclopedic museums are not cool. so we figure is so overwhelming the be the idea
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to have looking at things you normally would not see and be david weis llord genuinely excited. >> but why michelle of 40 bucks to do can do it for free? >> it is about access. >> i feel i get the behind-the-scenes story and wrote rather then what results around. it is exciting and high energy. >> i wish i had not worn high ideals we walked more than a mile looking at thousands of pieces of art. don't worry about those old school rules like no pictures he wants you to integrate technology. >> with the #let's do that. >> business is booming.
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>> so many people are interested in they have their eye on the dinosaur of the museum of natural -- natural history. melissa: may first question you pay $40 to two or a free museum? >> i thought at first it definitely not but then we really got into it and saw things you would never otherwise seek like the teacups used by royalty and things that flesh out. melissa: because it can be overwhelming if you go on the bigger to work it is very general and they are not the only companies doing this there are others in europe and elsewhere. what was your favorite part? >> they showed us the easy chair with a chamber pot. [laughter]
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melissa: thank you so much. who made money today? maybe 300 million that will they notice? you can never have too much money. ♪ cer ] now, taking care of things at home is just a tap away. ♪ introducing at&t digital life... ♪ ...personalized home security and automation... [ lock clicks ] ...that lets you loser to home. that's so cool. [ male announcer ] get $100 in instant savings when you order digital life smart security. limited availability in select markets. ♪
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also making money, anyone who owns rite aid. expectations and hiked up forecasts are giving a huge boost to the bottom line. the stock has skyrocketed more than 23%. very nice. and losing a pile of money. paul atkinson is a firefighter from organ that had a million dollars on the line. he seemed like he had it locked down and then this happened. >> [inaudible] >> what? he missed pronounced curio cabinet? according to the rules come you have to pronounce the word
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correctly. perhaps he bought a nice bottle of scotch and drown his sorrows. i hope you made money today. we will see you tomorrow at 5:00 p.m. "the willis report" is coming up next. gerri: tonight on "the willis report", why parents are not buckling up their kids. also, gps for driving. some people are using it to track something else entirely. we are watching out for you tonight on "the willis report." ♪ ♪ ♪
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