tv MONEY With Melissa Francis FOX Business April 15, 2015 2:00pm-3:01pm EDT
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nationwide protest by low-wage workers even at cost of their own jobs. on this tax day, the worst day of the whole year this is where your money is going. the government unable to fire workers engaging in illegal activity. you've got to be kidding me on that one! isis knocking on our texas border. the new warnings raising fears isis is a whole lot closer than we think. breaking news out of federal reserve. peter beans as the federal beige book. peter. >> the economy continued to expand across most regions with moderate or modest growth, melissa. that the headline from the latest fed beige book on economic conditions around the nation which the fed well use at the end of this month in the next policy meeting. lots of references to bad weather, strong dollar, lower oil prices. they are all variables the ten is -- fed is watching as it tries to decide when t raise short-term interest rates. for example, on demand for manufactured products the beige
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book says quote, weakened manufacturing activity was attributed to strong dollar, falling oil prices and harsh winter weather. here is some good news. the report noted many districts savings from lower energy prices are driving retail sales this cycle as is improving weather situation. melissa. melissa: wow, peter barnes thank you so much. let's look at market reaction. stocks near session highs. the dow is up almost 100 points. bring in today's panel. our very own charlie gasparino. john lonski moody's chief economist. john, i will start with you. you are the economist. what do you think of that? >> looking at beige book we have need for very low borrowing costs. we have modest growth despite federal funds -- melissa: we have need for lower borrowing cost? it is not working. >> imagine what if they were higher when what we would look at. things would be going downhill pretty quickly. look at housing.
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we had a stretch when we had 10-year treasury yield approaching 3%. home sales are down year-over-year because of higher mortgage sales. at least we're pet getting growth. some growth. melissa: john lonski, i love to you to death. the counter factual is bs i never let anyone say that. you can't say if we didn't have it would be worse. >> speaking of bs, departing with the winter weather john, maybe you can back me up on this, some sort of economic study about this last year, this year, oh, my gosh, the economy slowed down because of winter weather. it is winter. it snows. on the western half of the country it was pretty summery. i don't buy this winter weather. >> data is seesonally adjusted. >> we'll have zero percent economic growth, gdp growth probably in the first quarter. melissa: you think it is really going to be that bad? >> it could be. atlanta fed is saying 0.1. revised up from zero.
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you will raise rates in that environment. melissa: i think it is not doing anything? >> will you -- >> propping it up. melissa: get to a story i like even better. u.s. capitol police investigating a gyro copter landing on grass sy area of the west lawn of the u.s. capitol. it is similar to helicopter. it had a person inside. from here that may look like a toy but there was a guy inside or gal i'm not sure. nearby streets are closed. tom sullivan, you're the pilot in our group. >> that is gyro copter. that camera angle doesn't show very well, but it looked like logo of the u.s. post office was on it. i'm thinking prankster an april 15th making some sort of tax protest. first of all entire capital area is shut down. flight restriction, nothing can fly. somehow this got through an penetrated radar that is supposed to protect the capitol
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the white house and all government buildings. melissa: that makes you feel good, doesn't it? >> like keystone cops. didn't the guy jump over the fence to get into the white house? melissa: this is somebody flying a helicopter. this could be a terrorist. is not but could be something if you're able to fly that close? >> they're very unstable. i don't like them. think they're unsafe. >> have you been on one of them. >> i've never flown a gyro copter. you can fly one around 1000 feet in the sky if you want. >> oh god. i'm telling you seems like the president of the united states should be protected at all costs. some moron in a gyro copter can get in there seems insane. melissa: what about protecting congress what do you feel about that. >> i don't care. >> that is another story. melissa: i thought you might say that. meanwhile from the nfl star to life behind bars, former patriots player aaron hernandez was sentenced to life in prison with no chance of parole today after being convicted of first-degree murder in the 3030 shooting death of odin lloyd.
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pretty amazing. i mean they had no eyewitnesses that he pulled the trigger. >> i know a lot of people in the patriots organization. i know mr. kraft. i'm not best friend. acquaintances. i'm a pats fan. this kid came to them with bad record. shows you, listen as we attack the capitol hill police or whatever letting that thing through nothing is 100%. the pats have one of the best organizations in football. this guy with a very troubled past, not just troubled, this guy was a bad kid, slipped through the cracks and was a star. melissa: because he had incredible talent. more than slipped through the cracks. had 40 million-dollar contract. money talks. >> but they actually do look at the player player themselves. he was even able to fool him they cut him the day after the arrest. >> the nfl is under a lot of pressure to clean up its act. this isn't fair because this would abroad brush. this is the outlyer.
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nfl players are rough tough, aggressive. they don't go around killing people. melissa: john lonski, i don't want to be chastened because i didn't like your counterfactual. i love you. i couldn't let you get away with that. >> this guy is high salary, takeaway money can not cure all problems. melissa: i love that thank you good one. tax day has you shaking your head how much you paid last year, you're not alone. i'm furious about it way. fox poll shows record number of americans feel the same way 63% say their taxes are too high. i want to know who that 2% says it is too low. buffett. that is up from a previous high of 54% in 2012. >> statistically insignificant. plus or minus three. melissa: i guess. obamacare new burden recognize are the biggest factor in yearly cost of $234 billion as professionals lose 6 billion hours weeding through the tax code. there is so much about this appalling. >> i want to say something good about the irs.
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melissa: you're not allowed. no, no no. >> irs are greatest people in the world. >> you have been audited again, haven't you? melissa: you can't say that today. i'm so furious, so furious about my tax bill. 63% say it is too high, john lonski. >> i happen to agree with them. reason why they feel this way, mostly because they're disappointed what they're getting for their money. that is what is so troubling. what do they give us? they give us obamacare, prior to that. we had the federal government, fail to stave off a financial crisis. we had problems in the middle east over -- problems go on and on. incompetency applies to both parties unfortunately. >> people have no idea how much they pay in taxes. maybe even, a few of them know the bracket but most of them don't have any clue how low it is compared to those kinds of numbers. i think we're overtaxed but we pay a lot less than people think they owe. melissa: what? >> yes. melissa: no. here is what i think. should abolish withholding and
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everybody have to write a check and pay the bill to the government every month. >> amen. melissa: so you feel the pain how much much your wages is going to the government. and, because they withhold it. you don't really realize how painful it is. >> you know who started that? melissa: when you write the rent or mortgage, should write a check to the government so that you see that it is your biggest bill and biggest liability every month. that would cure this problem. then you out there would start to care about how much of our money is going down the drain in washington. god it makes me furious. >> today should be election day as well. melissa: yes, i like that. >> the guy who started withholding advisor to fdr. william macy of macy's department store take the money at source. >> you're in in a bad mood today. i'm in good mood. melissa: i'm getting hot and flushed. turn up the air-conditioning in here. i'm just -- >> you know why i'm in a good mood? melissa: why? >> i saw veronica vain at mooch's party. melissa: all right. shocker from europe's central
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bank a quiet press conference disrupted as a girl jumps on to mario draghi's desk and dumped litter on his head. the woman was quickly restrained eve leaving the ecb startled but unhurt. linked to a radical feminist group. falsely registering as journalist. i have to tell you this makes me a little bit sad, john lonski, no one in our country is passionate about monetary policy. this would not never happen here. >> remember, they have negative bond yields, negative interest rates in europe. this is what happens when interest rates are below zero. when you as investor have to pay money for privilege of lending. >> let's be clear. this is concerted effort by the left. this is not just monetary policies. they're attacking establishments. bill bratton walking through times squares square through red paint. he is police commissioner of new york city. radical left in this country is
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more radical than the right this country. they attack public official. >> goes to the security question about the gyro copter. she registered as a journalist from germany. >> ed koch someone tried to throw a pie at him and grabbed the guy. that is the appropriate response. one of these clowns come at you, knock them out. melissa: take opposite point of view. we should be this passionate about monetary policy and tax policy. >> how come you don't throw stuff at people? melissa: i might. i might think about it. i'm really mad. >> nuts on right like you are not as nutty as the nuts on the left. melissa: i'm not getting nutty there. >> they were called the tea party. called every name in the book. >> they are not nuts. melissa: protesters hit the street as wage rage spreads across the system. new system that could be stealing their jobs while they're away protesting. you're not imagining things. airplane seats are getting smaller. even feds are getting worried about that one. more money probably higher
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melissa: fight for $15 an hour. workers across the country staging wage protests for higher minimum wage. this is more than a food fight. fast-food employees, home care, airport and other low wage workers. this is edgar gonzalez. he is mcdonald's employee. he supports the movement. what do you hope to achieve? >> we're here in los angeles. we're waiting for people to gather. we're expecting thousands of people to come here and march throughout the university of southern california. we'll be joined by students and professors and just general workers fighting to make a living wage. melissa: i understand that you've been working at mcdonald's for the past two years. that you are a maintenance worker and a cook and you're looking for a higher wage. have you thought about trying to
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find a job somewhere else that pays more? have you done that? yes i have actually looking right now. i want a better job. i don't want to leave my coworkers behind. there is lot of workers that have been there 20 years. that is all they know how to do. why not provide them with living wage and some benefits, are you worried about the fact, seattle looking to raise minimum wage to is a dollars an hour. nonpartisan groups, say that could cost that one little area 19000 jobs. aren't you worried some will get more money and others will get fired? what do you say to the guy that gets fired? >> that is why we're fighting not only for $15 an hour but a union. if we get those $15 and hour, they will start cutting hours and try to do retaliation against us. they will try to fire us. we're fight to unionize as well. not only is a that we're asking for.
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melissa: the other thing they will do, replace you with automation. i don't know if you've seen we'll talk about this later in the show. olive garden has gone to tablets, applebee's outback chile's, all the restaurants are replacing ordering with you, with ordering with a computer. doesn't that concern you? >> no. not at all. like i know that customers before customer service. it is really it is really complicated when you're dealing with a computer. that doesn't concern me at all. i think that there will always need workers and when machines run down, they go out easily. a lot
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. >> $9 an hour is not enough for tuition and pay rent and buy diapers. it is really hard. i can't do it. melissa: no one can argue with you on that front. edgar, thanks so much for joining us. we appreciate your time. good luck to you. >> thank you. melissa: as workers fight for higher minimum wage automation is coming. olive garden is the latest restaurant to roll out tablet ordering system. here is todd starnes with fox news radio. john lonski is back as well. john, let me ask you a economic question at first. this is what hurts me. you heard edgar talking about the fact that he want as higher wage and he said he is going back to school to learn a skill. political science. i mean, this breaks my heart. i don't know what job he thinks he is going to get with that degree. god love him for trying to get education to get a job to not work at mcdonald's, but can
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you tell me where the jobs are in this economy? are they in political science? >> unfortunately he is probably wasting his time and money going for political science degree. melissa: that breaks my heart. >> that is very sad. what you're looking here in part, the argument over minimum wage stems from lack of upward mobility. that is what is so troubling. people are trying to train themselves to get into an education are worst possible area. melissa: go ahead. >> cold hard, reality, who will pay $20 for chalupa at taco bell. that will happen if you force higher wages on fast-food restaurants. folks will not pay that kind of a money. i remember working in school. i worked at popeye's fried chicken in high school. i had to work a second job. you do what you brought to do. melissa: i'm sorry. don't mean to cut you off. we have breaking news right now. we have new information on the gyro copter that landed on grassy area of the west lawn in the capitol.
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i want to bring in blake berman on the news. what do you have blake? >> we want to be very clear off the top, we do not have any confirmation at all who may have been flying the gyro copter. nothing official with a name. i've been watching video posted on "tampa bay times" on website, article video, very preproduced, highly produced in which a name by the name of doug hughes from the tampa area, 61 years old, sitting in front of that exact same gyro copper, lays out exactly what he is going to do here. i'm quoting. he says no sane person would do what i'm doing. he says he is not suicidal but what he says he wants to do is to draw attention to campaign finance reform. he said he would deliver, you saw the u.s. postal service there on the background, this doug hughes is a postal worker. he said he would deliver 535 letters addressed to every single congressman based on campaign finance reform. so if this is indeed the same
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person, from this highly-produced video, it appears to be a postal worker from tampa. melissa. melissa: on campaign finance reform wow. >> campaign finance reform. melissa: i was mad about tax policy today. maybe i'm focused on the wrong issue. blake, thank you so much for that. wow. the verdict is in. all details as the aaron hernandez trial finally comes to an end. more "money," a lot of answers coming up.
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massachusetts courtroom earlier today when former nfl player and super bowl champion aaron hernandez was found guilty of first-degree murder in killing of odin lloyd. hernandez faces life in prison without the possibility of parole. fox news legal analyst lis wiehl joins me on this one. they didn't have eyewitness for him being the one that pulled trigger right? >> they didn't have direct evidence, eyewitness that sees something. they didn't have the gun. they didn't have a gun that actually killed him. they didn't have bloody fingerprints any of that but they had great circumstantial evidence. they were able to put together they being prosecution case brick by brick based on all the circumstantial evidence. they had pings on the sell towers where he was taking this rented car. they had dna evidence. they had a joint at the scene there. they had a piece of gum with his dna on it, near the casing of -- they had a lot of evidence. melissa: video of him coming
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back, gun in his hand in the video? >> this is video surveillance of his home. when he after the killing there is video of there is surveillance of something that could possibly be a gun. but there was also a witness his fiance, testified day afterwards he told her to take a box. she didn't know what was in the box. she didn't open up. also one of the codefendants. there was a lot of evidence. melissa: the other two codefendants they never, do we know their story? >> they did not testify. they all pled not guilty. they are growing to be. they have trials coming up. so i think that the prosecution thought that hernandez was really one most culpable. you can see that, set one that rented the car. he is the one that had the fight with lloyd. he is the one that paid one of the defendants if you listen to -- melissa: obviously didn't need to why didn't they grow to the other two guys to try to get him to flip on him? >> that is the problem. you can't necessarily do that you have to try to get them to flip. if they don't flip hernandez is
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pretty powerful guy. if they don't flip. there is nothing you can do. can't compel the testimony. they may lie if you compel their testimony. melissa: just amazing. a career mid 20s. >> i know. melissa: spend, 60, 70 years in jail. $40 million down the drain. >> people talk about appeal on this it doesn't matter in the sense that he is facing two other murder charges in different district. melissa: lis, thank you. sex, drugs dea agents. the scandal takes a turn for the worse where we look at your tax dollars and mine are really going on this tax day. it is killing me. swapping a brown-bag for a doggie bag. why more americans are spending dollars on dining out instead of stocking up the fridge. "piles of money" and some snacks coming up. ♪
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melissa: your tax dollars at work. it is tax day. this is where your money is going. telling lawmakers that the agency is unable to fire agents that participated in those illegal sex parties. you have to hear this for your self. >> that is what is happening in your agency. you are protecting people that elicited prostitutes. they went through this. use taxpayer money to do it. >> did you recommend that they use taxpayer money? >> someone junior to you can fire somebody. is that what you are telling us? >> my position, as administrator, under the civil service act we have to follow certain civil service protection melissa: that is my money. that is my money.
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i cannot take it. todd and john are back. i want to strangle her. god bless her. it is not her fault. i feel like i want to reach to the camera and strangle her. >> strangle her or pull her hair out. especially today on tax day. the private sector fires about 3% of its workforce every year. less than half of 1%. clear in my opinion. the head of the agency cannot even fire? 312 no. it is terrible. some of these people got bonuses and promotions. how is that possible? >> no wonder our taxes are so high. we have to foot the bills for these parties. we have tsa agents on the government dime.
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it is absolutely ridiculous. folks are fed up with it. melissa: all they could do is send an e-mail, i'll call either way, if you happen to be in the country, or it is legal to hire a prostitute, please do not do it. >> this is a situation where brokers have to respond and make it clear to those in office. this kind of behavior will not be tolerated. we very much need changes so that those that commit wrongdoings will be held accountable. melissa: stop withholding. do you directly feel the pain? this is your money. >> this is literally just the tip of the spear. think of the type of the
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governmentwide of hundreds of billions of dollars of bureaucracy that is literally money going down the drain. the dea which does nothing to protect individual rights. we should remember that. melissa: john polonsky, remember that. >> privatizing as many agent these of government as possible so that we can better hold people accountable for their competency or in some cases in competency. melissa: to not move. stay with me. a big update on oil. closing up 6%. that is the highest close so far for 2015. bad news for you. sorry to be the bearer of bad
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news. americans are spending more on dining out than on groceries. this is according on new data from the commerce department. what do you think about this one? >> i cannot cook. not surprising here. folks have enough money to eat at restaurants these days because the prices keep going up. a dreamland arba q. tuscaloosa alabama. melissa: jonathan, what do you think? i also think that this sort of quick, fast food, chipolte, that sort of thing the times it is cheaper than going to the grocery store. >> going out used to be a luxury. it has been made if it's in and
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inexpensive. one of the lowest percentages of our overall income. what people really need to be worried about eating out is much more about the caloric intake. if you eat out you tend to eat more. melissa: john what do you think of this economically? >> the retail sales report shows that spending at restaurants was up i 90% year over year despite a very rough winter. not only is this because of millennial's also because baby boomers have a preference to spend on experiences as opposed to things that the population gets older. spending at restaurants and lodging will get a boost. melissa: we have this giant revolt in uprising. do you like it, jonathan? >> it is called a flat tax. how many hours hundreds of
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billions of hours just figuring out what our taxes are. it would save the country onions and billions of dollars. melissa: make people at the end of the month pay the government when they are paying their rent, paying their mortgage, paying for whoever works for them and you will really see how much of your money is going down the drain. i do not think that we would have any liberals left in this world. >> and we still have pot holes. melissa: you are killing me. the bomb squad on the scene as a gyro copter lands on the lawn of the u.s. capital. two years after the boston marathon bombing. how the city plans to honor the victims and the survivors of this deadly attack. more "money" coming up.
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by congress in 2012 about using a private e-mail. that is according to a new report. just days after clinton announced her run for president the. target close to reaching a settlement with mastercard. target will reimburse banks and reissue credit cards to 40 million accounts that were compromised during the attack. that is the latest from the fox business network. giving you the power to prosper. ♪
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here to help start yours. ♪ melissa: up aiding you on this situation in d.c. after a gyro copter landed on the west lawn of the u.s. capital. let's bring in blake bergman. we also have a former navy helicopter pilot. >> the president has been breached. the bomb squad remained on the scene. fox has not been able to independently confirm who exactly was on that gyro copter. it is a 61-year-old postal worker that also had this link the video on a website four and a half minutes long. he said, no sane person would do what i am doing.
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he said that he is doing this according to this video. different letters to members of congress. protesting finance reform. he is not suicidal. did not plan to distract anything while he was there. important to point out that there is a no fly zone. he said he was going to give a heads up to the folks here in this area to let them know what he was doing. it is still unclear if he actually did. that is the situation now. melissa: let me bring in chris. do you have a monitory near you? >> i can talk to about what happened. a staggering breach of security. still not safe from a postal worker with a homemade gyro
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copter. i think we need to reconsider what our capabilities are to stop more coordinated threats. this old guy had a rant against the government. as a retired military pilot, i am amazed that our air identification zone is this poor. he said what he was going to do. there was no secret about it. there is a lot of people that will have to answer for this breach in security. melissa: chris are you surprised that he could get her out and this could happen? >> i am ashamed that he could get through. i am not surprised that he could get through. between military personnel and intelligence capabilities. this guy found those things and exploited them.
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melissa: we've got to run. thanks to both of you. let's check in with liz claman. liz: we will have more on that. looking at a pretty significant rally. former employee as a murderer. what must the nfl do to fix it and manage in the wake of the first-degree murder conviction of aaron hernandez. eric called allman of the jets will join us live with his best ideas on this. he has some good ones along with criminal defense attorney. break up a good america. just 21 days before a shareholder meeting. a push to crack it in half. we have chris weiland on the likelihood of that. what you should do. is it a buy or a get rid of right now. melissa: liz thank you. netflix up.
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shares of netflix ahead of its earnings report after the bell. let's go to the nicole petallides. nicole: eagerly awaiting to hear from netflix. reporting after the bell. nine 10%. notorious for being a big loser. we see 18% moves 40% moves. it can be either way. they have actually read the street. the bets are on both sides. you can guarantee some volatility. we will also be looking for subscriber growth. expected to increase the 2.3 million. we are seeing netflix slightly
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to the downside. dropping about $3.88. a move like that is not even one percentage point. talk that a stock split. they have marveled. they have some great shows. "orange is the new black". melissa: thank you so much. live pictures of president obama. he is in charlotte north carolina. the discussion with working moms about the challenges that they face in their day to day lives. the president also making an effort to build support on his tax proposal. he thinks it will be a big help to working families. do not talk to me about taxes today. what goes up must come down. spacex. trouble came when the rocket came back to the ground.
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melissa: well, it looks like the ree usable rocket is a concept of the future. they attempted video game land the falcon 9 on a platform floated in the middle of the ocean. it descended straight down towards the barge and veering off an angle just moments before impact. according to elon musk, the rocket landed, quote, too hard for survival. the next trial video game land a reusable rocket is scheduled for june 22nd. maybe the third time will be a charm. this has to be one of the hardest things ever on the planet. southwest airline fliers getting a small seat upgrade. the airline announcing that their new economy
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seats will gain an extra seven tenths of an inch. the widest available on any boeing 727. the seat expansion comes as the federal government continues video game look into the safety issues that can arise from shrinking seats. mark. lees is back as well. the smaller seats are adding video game air to air range. it takes forever to get on board. can't put your luggage up because the overhead is full. you get whacked with the baggage. >> we're expanding your seats. come fly with us. >> here's the problem that will happen i don't want it to happen. someone will sue.
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what's going to happen, you know plane rage will happen. wait a second. you knew. you airlines knew that could happen. you'd have people testifying before this advisory committee, you knew there was this plane rage. you knew it was harder to get off the plane. you could have foreseen this. you are negligent. >> mark what do you think about that? >> enough with the lawyer stuff. >> i am a lawyer. >> i know. sorry. sorry about that. but, at the end of the day, no. please. you're going to blame the airlines because they're putting more people on. blame the passengers who are buying the tickets to get on the plane because they're filling up the planes. and, you know what, it's called capitalism, folks. >> it's called greed. that will lead to lawsuits because people that are actually on those planes that are stuffed like little sardines will find lawyers like me. not me. too soon. >> oh, boy. let's hope you don't get called for that. >> i won't. believe you me. melissa: you look at the seats. i mean if you're over
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6 feet tall, you can't fit in these seats. it's not even possible. >> all right. you nailed it on the head. it comes down to your height. i'm 6-2. it's tight. we'll have designated seating for short people versus fat people versus short people versus tall people. >> there are people -- you talk about people that are wide. what about people who are tall. you say 6-2. a lot of people get on the plane. my husband is 6-2.5. how can you sell a seat to someone who can't fit into it? >> that's called the upscale. he has to buy a larger seat. that's more money for the airline. that's what they're doing. they're cramming in the back. they want you to upgrade to buy the seats they had ten years ago. >> lawsuits. lawsuits. melissa: if you get a wedding invite from a casual acquaintance, think twice. the average guest will
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pay $673 this year. according to american express spending and savings tracker. that's all for now. i hope you're making money today and enjoying tax day like i am. "countdown" with liz claman starts now. liz: thank you melissa. the markets flying higher. optimism about the housing market. oil hitting a 2015 high and -- more green than beige. we have a rally that is pushing the russell small cap index to a lifetime high. delta airlines said its profits tripled. marking the strongest quarter. the shares are showing it. up two and a third percent. us home builders feeling groovy. a key survey showing builders believe single family home sales will be strong over the next six months. nice boost.
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