liz: two pieces of good news. better than expected retail sales for month of march. upwardly revised retail sales for february and citigroup beating investments. adam: better news. "the willis report" is next. liz: we'll see you tomorrow. have a great night. gerri: hello, everybody orange county i'm gerri willis, right now on "the willis report"? new calls for a taxpayer bailout. also should the government force young people to save more retirement? people are take the idea seriously. what do you think this? the unseen risks for parents who want to give their house to their kids. we're watching out for you on "the willis report." gerri: the deadline for filing your taxes if you haven't already is less than4 hours away. yes, here we go again. the good news the chance of getting audited by the irs is lowest in years. the bad news if you need to get

in touch with the taxman, good luck because millions of phone calls are going unanswered this year. with us the we have mattie dufner from americans for tax reform and scott hodge, the tax foundation. mattie, i will start with you, if the irs is not picking up itself, how do we get help. >> that is good question. hopefully a lot of your viewers filed given we are 24 hours a way. this is the interesting proposition here. the fact that the irs is not able to complete its most basic responsibilities helping the american taxpayer know their liability and fulfill it. we also hear from the left this time of year about how we need to give the irs more responsibility. so right now we're looking at obamacare coming into full effect and irs not knowing how to handle, most even basic requirement giving tax information you need for health care out and secure. but also we hear a lot of times from the left, because file something so difficult and because so many people have problems wit, we should nationalize it. have the federal government

around irs pay our taxes. gerri: not in the next4 hours, that's for damn sure i don't think that is boeing to happen. scott to you. look, 80,000 pages of tax codes, regulations as mattie is saying it is hugely complicated. now big changes this year. a lot of people if you haven't gone through it, you may pay more particularly well to do household, 200,000 in income or more. tell us what is changing and so very different this year? >> he especially for higher income people they're paying higher tax rates as a result of the fiscal cliff deal that was signed last year and so the top rate will go from 35% to 39.6%. for those above 250,000 and in income. those people also pay higher tax rates on their capital gains and dividend income. the other thing that they will see, this is kind of stealthy, is that a lot of their deductions will beased out or reduced after the, they hit

certain thresholds, say, over $360,000 a year in income. so there are a lot of things going on here. higher rates and fewer deductions for higher income individuals. gerri: i have to tell you, mattie. you're paying more for your investments. that is probably bad for the stock market. paying more on your income. let me tell you, obamacare, american tax relief act, ha, ha, no, it wasn't. mattie, when you look at this, do you think people are getting a little sticker shock this year? >> wealthy so. scott is talking a lot about the high income earners and where they're getting hit but a lot of average american families will feel a big tax burden this year with a lot of these new health care taxes. things like, the fsa, the flexible spending account used to be unlimited under federal law that has a cap that is pretty severe. that is $2500, something that families use to pay for braces for kids. families with special needs use for school tuition which can be

tens of thousand of dollars. that is something average american family will feel. deductions for health care got a haircut. a lot of obamacare tax hikes that have not gone into effect that went into effect this year and next year will be hitting average american families and they will be feeling the squeeze. gerri: that's a great point. scott to you. mattie mentioned earlier the fact there would be fewer audits this year. i guess that is good news. the reality is they can come back to you anytime? what is the window, seven years? they can come back later, we missed this last year. but this year we're coming back to you on your 2013 filing. they just, they get a free pass, don't they? >> irs does get a free pass because really the onus is on us to prove our innocence, not on them to prove that we're guilty. gerri: they have a lot of power. >> and they do. you know the irs spends $5 billion a year on enforcement, to try to wring the last dollar of taxes out of all of us, even though more and more

of us are filing electronically, we're filing with software, or we're paying someone else, a professional for instance, to do our tax returns. and yes, the irs is increasing their enforcement budget to get, the every last dollar out of every taxpayer. >> every last dollar out of every taxpayer. the folks most likely to be audited, mattie, mostly small business people or who gets that audit? >> something i think particularly prevalent over the last week, you saw last week house ways and means chairman dave camp release records that showed lois lerner, who is hid of irs tax-exempt division looking at can serve tiff groups for audits. this comes out of irs's own inspector general said back in may when they were selecting groups for audits, 100% of the groups they ended up selecting is right-leaning groups. your small business may not be safe if you donated to a candidate, attend ad rally or some cases had a facebook post that made you seem conservative. this is information the irs is

asking from people. this is something that, major concern i think to anyone who is politically active but any american who cares about their -- has to be concerned about the irs. gerri: we should ask our viewers if you find yourself in that situation, gerriwillis.com, to send us an email. before you guys go, i have to tell folks about the top excuses for not paying taxes because they're pretty darn funny. listen to this. filing taxes is voluntary and i don't care to volunteer. true or false, mattie. >> unfortunately it is false. gerri: how about this one? no gross income when i exchange labor for money, so i owe no income taxes. >> wesley snipes tried that one. it didn't work for him. gerri: how about this? the federal reserve notes are not real currency, if you get paid in dollars you won't owe taxes, mattie? >> we saw with bitcoin you will have a tax liability there as well. i don't think that is going to fly either. gerri: how about this. this is really tricky. i'm not a sate citizen, not a u.s. citizen so i don't owe any

federal taxes. scott? >> that doesn't fly either with the irs or the courts. people have gone to jail for that one. gerri: mattie, hey, taxes are unconstitutional. i don't think this argument is the most fun but the court again and again told us that is not the case. gerri: oh, well. the dog eight my open work i guess. thanks to see you guys. thanks so much for your information. >> you bet. gerri: if you want more details on filing your taxes go to our website, gerriwillis.com. check out my blogs where you find all kind of relevant tax info. from taxes to phones, consumers are getting ripped off. we'll not take these outrageous fees anymore. those are the words, not of consumer organization but ceo of t-mobile. he wants to do away with data overage fees for smartphones and wants his competitors to follow suit. for more on this, and a real look, dinah link telecommunications ceo larry fishel. larry, is this marketing hype or is this reality?

>> this is pure marketing hype. at the end of the day business is made in the cellular business is like the insurance business on breakage. what they want to do, get you to pay more in a set fee instead after smaller amount and then get charged after that. so the whole idea is drive you up to the next level. what happens is, they start throttling you down as you start to use the usage. what they're doing is. they're not giving you anything. not giving you limited usage. only giving you choice to go down to no data, or you finished on the 2 g network or pay to go to the higher amount bucket this is lot of smoke and mirrors this is t-mobile. when they went ahead came out with unlimited plan and quietly added up to $80, another $10 because they said it cost them more money. this is marketing ploy for a company whose stock went down 11% after the last quarter. costs are going way up. gerri: i think he has one thing

right. overage penalty, at&t, verizon sprint a billion dollars a year. so people are really paying the price. >> yeah. gerri: the question is this new plan really benefiting consumers and you say? >> the new plan will not benefit consumers. if you want to get lower on overage, charge less money on overage. nice to get people choice, if they want to pay a la carte or pay for what is called the insurance model. all they really need to do is charge a lower amount on the overage. who says they have to charge for higher amount. i agree the high amounts are no good. so you should really look at amount that you're using and go ahead and base it on that. because everybody is going to spend the money. money is made in the sale or business on pure breakage, the amount that you're paying for that you're not fully using. this drives them to that. gerri: so here's what the t-mobile ceo, john said. overage penalties from at&t, verizon and sprint take more than incredible one billion

dollars out of consumers pockets every year. show we'll not take the outrageous fees. john shows up in t-shirt and jeans. looks like a regular guy. you say he is another marketer. >> this is marketing ploy. like i said, if he wants to do it, give everybody the choice and lower the fees on the overage. why not do that? but, once again this is from a company that just went ahead and added $10 very quietly on the unlimited plan. gerri: you know what i think is interesting? is that we're all moving to huge need for data, right? >> yeah. gerri: at the end of the day and it seems to me like, there is nowhere for these bills to go but up? >> well, the bills are going up but the a the end of the day you are getting more data for your money than you did before. so, net-net you will be paying less overall but, with the constraints of the new world, you are going to be paying more but you are going to be using more to do everything on your smartphones but you need to be careful as a consumer.

you need to pay for the amount that you're using and a lot of people pay for the amounts over that they're not using and that is where they -- gerri: point, should analyze your usage. >> analyze the a oustage. everything you're doing in the world will be on your smartphone. you're eventually going to mobile payments. right now, e-commerce is only 10%. it will be going up a lot more. you will be using it on your phones. analyze your bill what you want to use. gerri: larry fishel, vanguard of the future. thanks for coming on the show. >> you too. gerri: we have more and more coming this hour, including how do you do that? besiding if you should give your home to the kids? what does that entail? we have pitfalls you should consider before signing on the dotted line. next, listen to this, my friend, union pensions are in the red. will they go to congress for a handout? seems like pressure is rising. is this next taxpayer bailout? stay with us. we asked people a question,

how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪ if we want to be ready for a longer retirement. predibut, manufacturings a prettin the united states do. means advanced technology. we learned that technology allows us to be craft oriented. no one's losing their job. there's no beer robot that has suddenly chased them out.

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gerri: taxpayers could soon be on the hook for another bailout. union pension plans, union pension plans, they're going bust and our next guest says you could wind up picking up the tab. dan mitchell, senior fellow at

cato institute. good to have you here. 10% of these multiemployer plans, pension plans for unions, of the 1500 total, 10% will run out of money in the near term, in the next few years. how big is this? how does it get fixed? are taxpayers on the hook? >> we already have a government department, pension benefit guaranty corporation, that exists to bailout and take over these underfunded and bankrupt pension plans almost all of which are associated with unionized plans. and according to the numbers on the pbgc website the unfunded liabilities is 10 of billions of dollars. so where is that going to come from? taxpayers unfortunately probably do have their necks on chopping block. gerri: dan, slight tweak to what you said there, my understanding these specific plans, this flavor of plan, is not supposed to be bankrolled by pgbc.

it is not supposed to be bankrolled by taxpayers yet i certainly expect the queries, the requests, demands for money to start piling up. do you? >> well, you have the single employer plans. you have the multiemployer plan. pbgc is involved with some. but the key thing to understand is, that any defined benefit system, which means that some employer at some point in time, promises we're going to give you x automatically, when there is really not the amount of savings, funding as they call it, to back it up, right, means somebody will be left holding the bag. lit is pgbc which of course ultimately means taxpayers and the healthy pension plans that are paying premiums to there, whether it means just a general taxpayer bailout. let's not forget. we're not even counting all the state and local government employee defined benefit plans, not to mention the biggie, social security! which is depined benefit plan that is trillions of dollars in

the red in the long run. gerri: exactly right, dan. we keep saying pgbc. what we mean is the pension benefit guaranty corporation and we fund it. i want to mention this one specific plan that was really described in detail in sunday's "new york times." it is teamsters central states plan. it has 400,000 members. they take in about $700 million every year. but they pay out $2.8 billion. 2.8 billion. they are nowhere near where they need to be to be payments that they promised to americans all over the country. and the irony of this particular fund in the '60s and 0's, it was a virtual bank for organized crime. so, you know, these plans don't necessarily have the best reputation and certainly now their reputation is suffering even more as they can't make the payments that they promised. what is the solution for this kind of thing? >> unfortunately, there is not a whole lot we can do about the fact that we're already in a deep hole. so somebody is going to get

hurt. it is probably to some degree going to be the people who thought, workers who thought they could rely on these plans. as we already talked about, taxpayers might get hit. there is lot of cross redistribution. so healthy pension plans are probably going to subsidize the unhealthy ones. here is the good news. i don't want to sound like i'm a bearer of bad news. the good news is that the market has largely dealt with this because over time there has been a big shift to defined contribution plans. gerri: 401(k) snooze iras and 401(k)s. you put money in an account. it is yours. it is your private property. there is not some pension plan someplace that might be misinvesting it or corruption with organized crime and unions. i think iras and 401(k)s, some people on the left don't like them because they turn workers into capitalists but i think they're much, much safer because the only people that are going to take it away might be government taxing it at some point in the future.

but that is whole separate problem. gerri: that is my fear. it is true there has been a change, but in reality, 10 million americans rely on this specific multiemployer pension plan for their, for their retirement and i'm saying tonight, dan mitchell, that i bet you, my last bottom dollar, that taxpayers are going to be asked to help, even though right now they are really -- legally not on the look for this. thanks for coming on the show, dan. good to see you. >> thank you. >> coming up later in the show, there is a new push to get the government to force, to force young people to save for retirement. unbelievable. how do you do that? deciding to give your kids the key to your house. should you sell it to them? we have unseen dangers coming up next. ♪ [ male announcer ] when fixed income experts... ♪ ...work with equity experts...

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gerri: giving your kids a house, giving it to them can result in serious tax penalties. how to avoid them in 60 seconds. [ grunting ] i'm taking off, but, uh, don't worry. i'm gonna leave the tv on for you. and if anything happens, don't forget about the new xfinity my account app. you can troubleshoot technical issues here. if you make an appointment, you can check out the status here. you can pay the bill, too. but don't worry about that right now. okay. how do i look? ♪ thanks. [ male announcer ] troubleshoot, manage appointments, and bill pay from your phone. introducing the xfinity my account app.

gerri: what is the old saying, no good deed goes unpunished? that doesn't have to be the case for parents that want do leave the kid your house. how do you give away the home without a big tax bill? veronica daguerre, wealth advisor for "the wall street journal." great to have you here. what do you think, i know there are lots of emotional dangers to this, but what do you think are the big financialdationers? >> there is lot of financial dangers. first of all if you give the house to the kids while you're still alive and that kid gets divorced your ex-daughter-in-law or son-in-law can get a claim on that half. not to mention, if your kid is

not so good with their bills, creditors might come after them. they could go after that house. you personally too. a lot of people want to do reverse -- gerri: you know what they will say? my kids would never be bad with their money. there is such a great couple. never get divorced. >> sure. gerri: you have to be more realistic. >> you have to be more realistic. how much do you really know about your kids finances besides what they tell you? i rely did another story, all of sudden the parents found out their kid owed $50,000 worth of bills. you never know what you're looking at. gerri: i know a lot of people do this because they want to qualify for medicaid. is that the right thing to do? >> yeah, medicaid is sort of on to people for this. if you transfer the house within five years of applying for long-term care benefits through medicaid, medicaid is going to say no, you can't do that they will render you ineligible, or at least inflict a penalty on you. gerri: five-year-lookback. >> five-year lookback.

medicaid is on to this. this will not work for you. you think if you want to get a reverse mortgage one day, if you do this, transfer the home within your lifetime, you can't get the reverse mortgage. that is huge problem because people may be relying on that money for future income. gerri: we cover that a lot, the reverse mortgage. some people think it's a good idea. others think it a bad idea. there has to be more tax implications, death tax, gift tax. do i incur taxes giving away my house. >> you can get hit with a lot of taxes and your heirs. you're much better off giving house as normal inheritance. unless you fall outside of the exclusions of the irs. for people to fall outside of that they need really largest states over $10 million. it really depends on the federal and also the state tax levels. but in general, most people, most average americans are going to be much better leaving their home outright when they die to their kids. gerri: so you don't recommend this? >> i think it's a bad idea. i think if your name is buffett

or gates perhaps it's a great idea but for most people it is not going to be a good idea. if you do do it though, it is really, really complicated. so if you're going to do it, think about trusts and somebody's trusts can be very complicated. gerri: get professional help. >> big-time. gerri: okay. good advice. i know a lot of people think about doing it. they think it will be easy and reality is not so much. >> not so much. gerri: veronica, thanks for coming on tonight. >> thanks, gerri. gerri: still to come our financial panel is covering your assets, how to protect your money during the market's wild and bumpy ride. we're up today but tomorrow we don't know. the latest idea from the former car czar, steve rattner, former wall street investment banker wants the government, order, force young people to save for retirement. coming up. ♪

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gerri: saving people from themselves, that's what obama's former car czar, steve ratner, says he wants to do by having the government, the federal government force young people to save for retirement. got a young person here tonight to see what he thinks of this idea, charlie kirk, founder and executive director of turning point usa. charlie, do you think the government should force young people to save? >> no, this is totally ridiculous. and if you look at ratner's article, he wants to get young people to save for the future, but what he doesn't analyze is why young people aren't saving. the metrics are correct, they're not saving, it's because they're too worried about surviving in this economy. they don't have the disposable income to save a 401(k)-type platform, and to say that we should pass a bill that 9% of the income of millennials should

now go towards some oligarchic type of 401(k) system is ridiculous, and to say he could save us from ourselves is totally preposterous. gerri: okay. so let's look at the metrics, you mentioned them. workers under 25, 43% are saying they contribute 4.3% of their income on average. once you go a little older, workers 25-34, 62% are saving, they contribute 5.5% of their income on average. and then you go to 45 plus, people in that age group, 70% are certainly saving, and they contribute 8.7% of income on average. you know, charlie, it sounds to me that steve ratner is just trying to overcome what is really just human nature. you don't really think about these issues, these problems until you get older. >> correct. right. and even further into that, there have been studied shown, and cnbc released one recently and so did an independent consumer index that showed my generation is the most

financially conservative with their money since the great depression. they're maxing out. they don't have this extra income to put in diversified assets or portfolios, and the reason is because of the skyrocketing student loans, new obamacare mandates, skyrocketing health care premiums, and they're underemployed across the level. i don't exactedly know where he's going to find this extra income. young people are less likely to save for the future, and that's always to be understood when you go into these kind of financial conversations. gerri: is there any reason to think that the federal government should be involved in retirement savings? should the federal government be devising programs like my-ra, or should they just get out of the business altogether? >> i say get out of the business altogether. they're noble ideas, but social security is supposed to be this great idea that's worked for millions of americans for a long time, but it's not solvent. it's going to go bankrupt the next eight years if decisions are not made, and that was kind of supposed to be retirement-supplemented income.

and when millennials are polled, half of them even think they'll see a dime out of social security. so to think that ratner's proposal will somehow make this wonderful, robust retirement account for my generation is preposterous, and for him to take the tone that, oh, we can save you with policy prescriptions i just think is totally, in my opinion, thinks that he can kind of dictate through this legislation which i totally reject. gerri: i think there would be a huge uprising. i think, you know, the folks who protests against wall street, you ain't seen nothing yet if you force people to set aside 9% of their income, because they don't have it. what's a better plan? how do we encourage young people to save? is it some kind of government program? is it mom and dad? is it a better economy where people earn more and feel like they can set aside more? >> yeah. i think it's a mixture of all that. there needs to be a cultural component that we need to save more, but if you look at young people 18-32, we're underemployed, we're being

mandated to pay for health insurance that we really don't think will benefit our generation. i always like to say we're borrowing money we don't have to give to students for things that don't matter to find jobs that don't exist. young people are going into markets, they have degrees that don't have a lot of relevancy. jobs are disappearing, and when you say all of a sudden they're resurrecting this idea that, oh, we have youth unemployment at all-time highs, hey, let's put another 9% tax for retirement. i don't know where he's getting this from. the best solution for long-term diversified assets and retirement accounts is a prosperous, booming economy, and we've got to get government out of the way, and my generation's suffering because of the ails of big government. gerri: my reaction was, okay, let's force them to save for retirement, let's force them to pay for health care, let's force them to be nice to mom and dad. gee, what else can we add to this list? they're just going to love us. it's a little too in your face government, i think. charlie, thanks for coming on the show. so great to see you. >> great to see you, thank you. gerri: here's our question

tonight, should the government force young people to save for retirement? log on to gerri willis.com and vote on the right-hand side of the screen. i'll share the results at the end of tonight's show. and time now for a look at stories you're clicking on on foxbusiness.com. retail sales ringing up the biggest gains since 2012. the congress department reporting sales jumping 1.1% last month. it signals consumers' willingness to spend after a harsh winter. and this is the biggest jump since september 20123. better than expected retail sales and earnings from citigroup pushed stocks higher. the markets rebounding today after a big selloff last week. and staples is launching a 3-d printing pilot program, the office supply chain is partnering with 3-d systems to create 3-d printing centers in new york and california. the program is aimed at small businesses and consumers. hmm. google has fined drone maker titan air space, buying the maker to expand internet access in developing areas.

the internet search giant is declining to reveal how much it paid for the start-up. initial commercial operations are expected to begin next year. and those are some of the hot stories right now on foxbusiness.com. coming up later in the show, we have the latest in the gm recall scandal, and we are covering your assets. stocks continuing their roller coaster ride. where should you put your money? our panel gives their advice, coming up. ♪ ♪

why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com

♪ ♪ gerri: doesn't today feel better than last week? we have nice stock rally today after that roller coaster ride last week. the market gained back some of the lost ground in light of news of an increase in retail sales and citigroup earnings unexpectedly rising, but is this the calm before the storm? we're covering your assets with an editor and analyst at stance

bury research, shane ciderman and a and g capital president hillary kramer. hillary, i'll start with you. what do you make of this move today? is it sustainable? >> yes. we had a mini correction, and we have another few months to go of a nice bull market run. this was enough to shake out some of the hedge funds and get some of the margin out of the market and hopefully wake up individual investors to be careful. gerri: shane? >> i disagree. i, hillary's one of the best, but in this particular instance, i totally disagree. i believe we have taxes at 30-year highs right now, and when you take a look at the tax man and you see the consumer makes up, what, 66% of the economy, i just want to believe these pe ratios are getting a little bit on the high side, and i believe that if we get a consolidation, it may be wise. gerri: there's still billions and billions on the sidelineses, hundreds of billions of collars, but more than that, investors have to go to equities. we have to, all of us -- >> give him a chance to chime

in. he's harder to get to. dan, what do you say? >> well, i think that we shouldn't make decisions about buying and selling equities based on a single bit of data in the news on any particular day of the week. gerri: but do you think that stocks are overvalued or undervalued right now? >> i think a lot of them are overvalued right now, and a lot of them are fairly valued too. bargains are fairly difficult to find be overall. gerri: does everybody here think we're in a a stock-picking market? it's not the kind of market where you want to buy indexes. hillary? >> right now it is both a stock picker's market and an index market. gerri: choose one. choose one. >> okay. i would do individual stocks. gerri: okay. >> however, the biotechs have been completely decimated, really, like, everyone -- gerri: it's a bear market. >> so if you want to do an index in ibb, there's a lot of short sellers who are going to get squeezed out of that, but otherwise, pick your stocks. there's lots of value plays left.

gerri: shane, one of our experts last week told us they thought hedge fund money was in momentum stocks, and that's what was driving the selling, and you say? >> i'm not a big fan of the hedge funds. they usually trade the day to the month too much to the current news. i don't want to agree with dan across the board, but i'll tell you, dan's right on the -- he's right on the money here. i think you've got to pick individual stocks. there are some that are fairly priced. there's some that are way overvalued, and that's why -- gerri: stock picker's environment, it sounds like. >> yep. gerri: stan, to you, there's a study out that says individual investors, people like me, make bad decisions and we never get it right. this is a study about money-losing behavior among individual investors. what do you make of it? >> i love the study. i think it's brilliant because it shows that human nature never changes and that no matter what happens, at this moment in time we have more information, investors have more information than they've ever had.

they have more chances to get it right, in effect, than they ever have, and yet the basic human nature, you're right, gerri, it never, ever changes. and 99% of all the people within the sound of my voice have no business trying to pick individual stocks. they should just put their money -- >> no, and everyone, in everyone's portfolio there is a place. maybe it's 5%, 10% or 20% -- >> couldn't disagree more. >> there's room to pick stocks, and you can make a lot of money picking strongs and then balance the rest of the portfolio. there's a place for fixed income, there's a place for cash. there's a place for -- individual stock picking has made a lot of people very rich, especially if you invest in what you know or you have an edge in a particular area. you can make a lot of money. gerri: shane, what do can you say? i hear this all the time, oh, the stock market is too complicated for you, poor little individual investor. >> it's like anything else, i think dan is right to a certain aspect. there's a reason why 90% of the people are poor and middle class

and only 10% are super wealthy. and part of the reason is they don't have discipline for good habits, right? and they don't educate themselves. i always encourage my clients to read books, you know, whether it's -- and i'm to not endorsing a book, but the millionaire next door's a perfect example of anybody in college or high school -- gerri: the author will be happy you said that on our show. you bring up a really good point that we never make in this panel that we probably should, and that's this, that it's not about picking the right stock, it's about being regular and investing regularly over time. hillary, what do you think of that philosophy? >> absolutely, gerri, because individual investors try to be like an institution. the difference is individual investors, it's your money, it's our money, but institutions it's somebody else's money, so it's okay to lose. they're still going to make a return because they get a percentage off those assets, so individuals need to be steady and in it for the long term. there's a lot of individuals -- gerri: that's the only advantage we have in the marketplace because everybody else is jumping up and down like a

yo-yo. dan, to you, what's your comment? >> my comment is you're right. we do have an advantage this the marketplace which is that we're not institutions, so we can sit on the sidelines in cash, we can be very careful, and maybe we can learn to pick stocks. i'm just saying that most people won't learn to pick stocks. not that they can't, they simply won't. gerri: all right, shane, i want to ask you about these insiders in technology stocking selling stock. jeff baez sews, earl -- bezos, sheryl sandberg, some of these other executives who were selling, does this tell us something about the way we should regard tech stocks at this time? >> i believe the smartest money in the last two decades has went to silicon valley and has gotten kept in wall street. if you take a look at the -- there's a major red flag. why are they selling the smart guys out there? maybe i'm wrong, but i think the pe ratios have gotten out of whack. i do agree with hillary, there's a lot of cash out there. the private equity, smartest money, they were selling

everything. >> we're talking about stocks like facebook. facebook is overvalued. stocks like twitter, i mean, yes, down from 72 into the 40s right now, but twitter going lower for sure. there's still lots of other good stocks, but silicon valley, their selling tells us that, yes, those specific stocks are high. however, people sell stocks for a lot of reasons that work in companies or have -- gerri: that's true. >> what you want to wamp for are those that are -- watch for are those that are buying stocks. you only buy if you're an insider and build your position if you think that stock's going up, but you can sell even if there's good momentum. gerri: dan, last word on this. are you taking this as a signal that some of these tech ceos are selling? >> not at all. i agree with hillary. insiders sell for a gazillion reasons, but they only buy for one. gerri: okay. dan, shane and hillary, thanks for coming on the show tonight. great job, interesting stuff. well, investing in the markets can be a gambling, but the odds could be worse.

the old saying at at the casinos the house always wins, right? while that may not always be the case, some games are stacked in the house's favor. in tonight's top five casino games with the biggest house advantages, coming up at number five, roulette, gives the casino more than a fighting chance, the house has up to an 8% advantage. number four, video poker. this game is growing in popularity, and it gives the house up to a 12% advantage. number three, craps. craps is the fastest moving of the casino table games, and depending on the bet, you can give the house the advantage of up to 17%. number two, wheel of fortune. unfortunately, vanna white can't help you there. this slot game is considered a sucker's game, and it's easy to see why. it gives the house up to a 24% advantage, and the number one casino game with the biggest house advantage is keno. you can find the game in almost any casino in the world, it gives the house up to a 35% advantage. casino games that tend to give the player a fighting chance,

back rat and black squat. those are the two things you -- blackjack. those are the two things you want to play. and, next, we take a look at that revealing e-mail to gm ceo mary barra. what did he vail know about the steering problems -- did she really know about the steering problems and what happens now? stay with us. nts trade and invest their own way. muck muck so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. trade like me. i'm with scottrade. (announcer) ranked highest in investor satisfaction with self-directed services by j.d. power and associates. all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds.

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lauren fix. always good to have you here. >> thank you. gerri: we've been talking a hot about gm, and last week we got a controversial e-mail that seemed to indicate that mary barra might have known more than she said about the problem at the center of the recall that we've been covering so intensively. >> right. gerri: lots of people climbing onboard, senator blumenthal saying, hey, you know, you've got -- this is a real problem, mary barra needs to tell what she knows and -- she was running safety at the time. >> and global vehicle teams. so she knew a lot of what was going on. but remember, you were at the top. we're also finding documents -- i spent the weekend do doing lots of research. there's 250,000 documents. i can't read it all, but i did find some other interesting information. gerri: let's hear it. >> first off, there's a gentleman named brian stauffer who was actually at the low end level of engineering who said, jeez, we have this problem, let's research why this is going on. everywhere he went, electrical stopped him, people at

engineering stopped him and then, of course, thisty your joe guy got let go -- gerri: what do you mean stopped him? >> they sorted of made it difficult for him to get the facts. gerri: so this was a guy who was searching for an answer and was blocked at every i instance. >> the delay in getting data, we'll get it to you, he didn't get it and as he moved there, he was there for 29 years. this gentleman actually stood up and made a case of one of the deaths, he made a statement, and now he's no longer with gm. i assume he retired after 29 years. i don't think -- gerri: we don't know where he is. >> we don't know. yeah. gerri: you know, we look at this situation with gm, and it's really shaken the company up. mary barra is on the defenses, for sure, and she's new to the job. is this the biggest recall problem you've ever seen? >> it is one of the biggest ones. there was a study that came out today of all the manufacturers, per hundred calls, who has the most recalls? you'd naturally think it's gm, but it's actually toyota.

honda's in the mix, volvo and even ford. gerri: i think they're afraid of being the next gm. >> right. there's the act of 2000 which is about recalls and regulations that are required, and these manufacturers have to follow this. but now if i were a manufacturer and we had a little problem, i would be on it right away was if you're not -- because in -- if you're not, you're the next one in the news, and nobody with can take that hit. you have to be honest and straightforward. gerri: quickly, what would you tell consumers tonight? >> i would tell them if you don't know if your car is on the list, please, call your local dealer, find out if your car is on the list. and if you're thinking about buying a car, that's why you do your research, find out about safety recalls, technical is service bulletins, crash test ratings not just from nhtsa, but do your research, print out your paperwork before you buy a car and, you know what? you have to check on a used car too. don't assume somebody else did it. it's on you, it's your responsibility. gerri: nhtsa.gov is a great place to go.

lauren, always good to see you. thank you so much. and we'll be right back with my two cents more and answer of our question of the day, should the government force young people to retire them? force them? stay with us. know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation.

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gerri: urging the government to help the young people out there save for their golden years. should it force people to save for retirement? here's what some of your posting on my facebook page. no. i believe as an adult, it is my responsibility to do that, not the government. more reliance on the government is a bad thing. and this is called social security. but at how well that worked out. 13% said yes, 87% said no. log onto gerriwillis.com for our online question every weekday. here are some of her e-mails about our segment on smart

watches. the so-called smart watches may be all the rage but they can stay in the store. and agrees, and mickey mouse watch is as smart as a watch needs to be. i love hearing from you. send me an e-mail. go to gerriwillis.com. we talked about the news for consumers. it is tax day tomorrow. there is good news, you can postpone the final filing of your tax forms. the bad news is you cannot put off paying. they require you pay what you estimate you owe or at the very least pay something. the procrastination form number is 4868 and can be found on the irs website. irs.gov. it is worth noting tax freedom day, the first day on a calendar you can start working for yourself rather than uncle sam is april 21, 3 days later than

last year. seems to get later because it gets later every year. that is it for "the willis report." we will see you back here tomorrow. ♪ neil: have you finished filing your taxes yet? hope you are honest and hope you made note of the line above your signature under penalty of perjury i declare i have examined this statement and to the best of my knowledge and belief it is true, correct and complete. talk about heavy-handed. better make sure you're being honest when it comes to the u.s. government. do not assume it works the other way. lying to the government might be a crime for us, but the government lied to us is standard practice for the government. we have to sign on the dotted line under threat of perjury, the goveme