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tv   The Willis Report  FOX Business  May 9, 2015 5:00am-6:01am EDT

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ust about anything orwell's work gives us another reminder why we ought to keep politicians' powers limited. that's our show. see you next week.ave you back. you and your wife had a wonderful vacation. >> you have a great weekend. gerri: hello everybody. i'm gerri willis. this is the willis report, the show where consumers are our business. a great jobs report for wall street. stocks soar as payrolls rebound. >> where is there the 400000 a month that we got under ronald reagan? >> we'll take a look at what today's report means for the rest of the country. the clinton machine goes into overdrive to try and smear the author of a book that could derail hillary's shot at the white house. >> even the guy who wrote the book apparently had to admit under questioning that he didn't have a shred of evidence for this. he thought he would throw it out there and see if it would fly.
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>> the author of clinton cash peter is here. gas prices are revving up. what's behind the jump in prices? will it continue? our user's guide to real estate. we'll show you amazing and inexpensive backyard makeovers. >> we were looking to create more playing area and more flat space in the backyard. and that morphed into hey, why don't we put a bar in and a barbecue. gerri: all that and more coming up on the willis report, where consumers are our business. ♪ we got a better jobs report today, finally. but the labor market is nowhere near strong enough to allow anybody who wants a job to have them. certainly not a good-paying one. while most of americans struggle to make ends meet tax receipts are at a record. the federal treasury is doing great. chief economist john lonski and dan. welcome to you both. john i start with you. so one fan, certainly of
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today's job report the market -- the stock markets. big gain. about 2%. nearly 300 points on the dow industrials. take a look at these numbers. 233,000 is the addition in april. march revised lower to 85,000. what do you make of these numbers? >> the equity market liked the same thing that the treasury bond market liked. that was the report indicated only a modest increase by wage and salary income. the average hourly wage was up by a measly one tenth of 1% from the prior month. only 2.2% year to year. that tells me that the broadest (?) total of wage and salary income in the month of april grew by just north of 4%. inflation risks are well-contained. therefore you're only going to see a modest rise by interest rates at worst. and the equity market, of course. >> okay. let's break that down.
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you covered a lot of ground there john. dan, i told you in the hallway before the show. larry summers saying that we're in secular stagnation. certainly, you've got to say if gdp were to be anything like the second quarter like it was in the first ultimately, we could have one step in a recession here. >> yeah, we could be close to it. picked on what john was i think suggesting. we're in a very pa adocksical situation. if the economy showed it were getting strong again, then the federal reserve would obviously get to the point where they'll raise interest rates off the zero bound at which point the stock market will tank. as it always does when the fed suggests they'll raise rates. we have a funny situation where as long as things are sort of staggering around at 2% growth asset prices are great. that suggests there's a disconnect here between monetary policy and the
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structural underlying strength of the economy. so i think larry summers is right to be concerned that we're in this kind of long-term problem, where we're just grinding it out quarter after quarter. gerri: grinding it out quarter after quarter. john, to you. you know, i believe that it's very possible that we have 1 foot in a recession and we don't even know it. that's what's going on. that's behind the disconnect that john is describing. what's your view? >> here's what i think will happen. not too long ago economists strongly believed that the second quarter growth rate would be in excess of 3%. very shortly sometime next week, we're going to find out that those estimates have been revised down to about 2.5%. if that high. so for the year, we're going to be looking at economic growth of less than 3%, tenth straight year. the equity market might like this. the bond market might like this.
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but the sad story is that this weighs heavily on middle class america. lower income america that were supposed to be helped by this administration. gerri: and let's talk about what really weighs heavily on these middle income americans. wage growth is still weak. up a tenth of a percent in april. 2.2% in the year. can we get anywhere without wage growth in this country? >> it will be very hard. the one figure not emphasized in this report the labor participation rate rose a tenth of a percent. it remains at the level -- labor participation, when jimmy carter was president of the united states. in the late '90s. >> that's before women got into the work force. you're turning the clock back so far. >> so many people are stopped looking for jobs or have jobs paying them less than they think or is equivalent to the education they have. so there's no animal spirits in the economy right now.
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>> well-put. well-put. john, to you. what does this mean for interest rates? when will the fed bump those rates higher in your view? >> at last look, the federal funds future contract believes that fed funds will be no higher than one half of 1% at the end of this year however it believes so with less conviction. it would not be surprising if fed funds finishes the year at only one quarter of 1%. adding to what dan just mentioned. since payrolls last peaked back in early 2008, we added 3 million jobs. great news. unfortunately, at the same time, the working age population grew by more than 10 million people. so you know that labor force drop out that drop in the labor rate participation rate is why the unemployment rate is so low and for no other reason. >> dan, i want to change up the topic a little bit. the federal government collecting more taxes in
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april than at any other month of any history of tax collection. the government collected $472 billion. now, i realize it's april. but this is an all-time high. what's more, they couldn't even spend all the money they got. there was a surplus that some even though there that month even though there will be a deficit this year. what's causing this increase in tax collections? >> the fact there are higher tax rates. i mean, obamacare imposed a 3.8% surtax on investment income up to a certain level. they also imposed a surtax on the medicare payroll tax. and barack obama in the fiscal clip negotiations raised the capital gains rate from 15 to 20%. these higher rates simply take money off these sort of increased stock market values that we've all seen here the last couple of years. and it pours into the us treasury. it's pretty simple. >> pretty simple.
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john, last word. quickly. john: well it's so sad when you think about all the monetary stimulus and fiscal stimulus we had. of course, now we have tax hikes. somewhat of a drag. you also have a regulatory drag to consider. the -- in the final analysis over the past ten years payrolls have grown at perhaps the slowest rate over a ten-year span seen since the end of world war ii. this is a labor market that very much still suffers from a dearth of attractive job opportunities. gerri: john and dan, thank you so much for coming on the show. have a great weekend. now we want to know what you think. here's our question tonight. are record high tax collections robbing from economic growth? log on to gerriwillis.com approximate andandvote. i'll share the results at the end of the show. start your engines. road trip season. millions more hitting the road. will a rise in gas
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prices cause drivers to put on the brakes? andy, thank you for coming on the show. so good to have you. these prices for gas are coming way off the lows. 31%. gas prices up 30 cents a gallon in a month. is this a typical kind of price hike we see in the summer? >> we usually see this preseason rally. it's been exacerbated by the fact that crude oil dropped. as we've seen the rig oil count decline by 50%. crude oil moved to $60 a barrel. but it's still good news for the consumer. >> still good news for the consumer. all right. explain this to me, if you will. so far this year, oil prices are up about 11%. but gas is up 30%. why do these things want go in lockstep? >> well, they don't go in lockstep because the market is looking at the upcoming gasoline demand. and we're expecting drivers to really hit the road.
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and when we get to the summer season and just before memorial day is where gasoline prices tend to peak out. and the market looks around and says, you know, we have plenty of supply out there and it's going to start coming off and pressuring prices. >> i think in a lot of ways people have sort of come to expect lower prices. do you see any evidence that this is percolating through the economy anywhere? >> well it's probably percolating in a negative way here in houston, with the lower oil prices because our economy here depends so much on the production side of things. but i think that, you know, a lot of people are benefiting. they're going out to eat more. they're spending more. and retail sales and things like that. so there are benefits. it just takes a while to accumulate because the consumer is saving only say 20 or $30 a month. before they buy that big ticket item, it will take them six or 12 months to save it. >> the industry is
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expecting the biggest travel holiday over memorial day over some time. what kind of savings are people seeing? >> well, you know, clearly we're seeing a dollar a gallon savings since this time last year. because gasoline is so cheap, it's much less expensive for a family of four to start driving rather than flying. they go and stay in a hotel for an extra night. when i talk to my friends they're talking about driving instead of flying. we're expecting a lot of traffic this memorial day holiday. >> so memorial day, what does the rest of the summer look for gas prices? the fall? can you see on out that far? >> well, it looks to me that gasoline prices are tick on up about five to 10 cents a gallon. but inventory and supply is about 6% higher than this time last year. refineries both here in the us and in europe will be running at historically high rates. and we'll get all that extra gasoline coming over europe impacting
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supply and tempering prices for the consumer. >> i like that story. andy, thank you for coming on. good to see you. >> thanks for having me. gerri: still a lot more to come this hour as we wrap up our week long user's guide to real estate with a backyard makeover you'll want to see. it's incredible. next, all this week bill clinton has come out swinging against the hot new book "clinton cash." we'll talk to the author to get his reaction. ♪
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to make it real. ♪ ♪ >> the new book "clinton cash" is raising lots of questions over the financial dealings of the clinton foundation during hillary's tenure as secretary of state. and team hillary has been on an aggressive mission to debunk it. >> it's full of sloppy
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research and attacks pulled out of thin air with no actual evidence. >> even the guy who wrote the book apparently had to admit under questioning that he didn't have a shred of evidence for this. he just sort of thought he would throw it out there and see if it would fly. and it won't fly. >> joining me now the author of "clinton cash." the untold story of how and why foreign businesses helped to make bill and hillary rich. peter schweizer. so good to have you here peter. so you heard that sound. sloppy research. out of thin air. not a shred of evidence. obviously the clinton machine here trying to discredit you. but even you say you cannot connect all the dots. what are people to take away from your book? peter: i think what people are to take away from the book is there's lots of evidence in this book. i'm not quite sure what interview bill clinton is saying when i admit to no shred of evidence. i show a pattern of money flowing to the clintons. and the people who sent the money to the
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clintons got favorable actions from hillary clinton as secretary of state. what i said is the evidence pattern here is far more compelling than in recent corruption cases in virginia, new jersey, out in oregon. my argument is that we need somebody with subpoena power with the capability to investigate this to do the due diligence. the facts are clear. they have not challenged the central facts in this book. even some of the pushback they've given is ludicrous. it's an attempt at misdirection and not focusing on the real hard facts here that are troubling and have been confirmed by a number of major media outlets. gerri: here's bill clinton talking about your book. there's no doubt, in my mind, that we've never done anything knowingly inappropriate in terms of taking money to influence any kind of american government policy. that just hasn't happened. what did you make of that statement? and particularly that phrase "knowingly inappropriate." >> yeah it's interesting phraseology.
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dare i say it's clintonian. i would ask clinton when your wife the secretary of state was considering the xl keystone pipeline which she signed off on in 2011, why did you take $2 million from one of the largest shareholders in the keystone xl pipeline for speeches? they never paid you for a speech before. suddenly now that she has this critical decision to make they decide to give you close to $2 million for speaking fees at the same time. and there are numerous examples like that in the book. that's the thing i think that's so important. to get them to answer specific questions on the patterns that are in this book and explain why they were taking money and big paydays from people who needed hillary clinton to make decisions their favor. and, by the way, she did. >> we had dana on the show this week. she said the money that came from foreign governments to the clinton foundation was essentially just stealing money from what are often third world
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countries. and that, you know, morally there's an issue. there's a problem with that. do you agree? peter: i do. and, you know, one of the miscontraceptions peoplemisconceptionspeople have about the hillary foundation is that you have germany media companies providing the money. one of the things i point out in the book. you have a problem with undisclosed donors which we showed that they violated the agreement. when you look at the disclosed donors. guys are doing business deals with warlords in africa. people that have been convicted on major criminal charges in europe that operate in nigeria that have made huge commitments in bankrolled speeches for clinton. you have to wonder why they're taking money from these people. why are they putting it in their pocket. why are they putting it in the clinton foundation? whatwhat do these individuals and institutions want in exchange? there's certain evidence that they got favorable action from hillary clinton. why are you taking money from these people?
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they won't answer that question. gerri: we made a simple judgment of the clinton foundation. we look at charities and how well they spend their money. when we dug into that, we found there's a puny amount of money going to the actual good works that the former president likes to talk about. helping people in third world countries. keeping people from starving. aids. very little goes to help people in poverty of that money. >> you're right, gerri. if you look at the organizations that evaluate charities like charity navigator go online, they rate lots of charities. they won't rate the clinton foundation because they say it has a, quote, unquote unique business model. or you look at the better business bureau which -- them substantially. they have all sorts of internal control problems at this foundation. charities are not difficult to run if you stay focused on actually trying to help people. the problem is, the clinton foundation is this sprawling entity that does all these
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things but it's really impossible to measure how effective it is. that's why i call it kind of a politician's dream. because there's no way to really measure what they do. and that's part of the problem. gerri: one final question here. peggy out with a column on your book and describing sort of the clintons in detail and how they operate. she says essentially that voters have normalized the clinton behavior and they think this is the way the clintons operate. would you have guessed that your book would have had a bigger impact on polls. because hillary may have slipped a bit. but she's not down a ton. >> well i think if you look at a poll that came out a couple of days ago. i think it was the wall street journal nbc, it showed there has been a substantial jump in the number of people who think she isn't honest or trustworthy. it's well north of a majority of people in the united states. the actual poll numbers the horse race of the election, i don't know what those numbers mean at this point. clearly on the issue of
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lack of trustworthiness. there's a huge jump expect i think that's attributed to the book. the clintons say the book is a dud. it has no impact. they're attacking me. they put a two and a half minute video that's highly deceptive. you have president clinton that's sort of going after me directly. so clearly they're concerned. and if you look at book sales and mainstream media coverage of the book. the networks, the new york times, clearly everybody recognizes there's a problem and that the book has uncovered some really substantial problems that need to be addressed. >> peter, thank you for coming on the show tonight. great to have you here. >> thank you. >> still to come, jeff flock takes us up to a job fair in gary, indiana. and the punches keep coming for manny pacquiao. he could be in the courtroom. our legal analysts debate the case coming up. ♪
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>> all right. believe it or not there are unhappy boxing fans out there. manny pacquiao claiming shoulder injury before getting into the ring with floyd mayweather in last weekend's boxing fight of the history. medical let's and criminal defense attorney, and okay. do they have a standing. >> absolutely they do. i think it was 99.95 that's a lot of money to spend millions of them did. >> and they bet a lot of money, and then they got -- it wasn't even the best fight of the night; right? >> it's not these guys fault. >> oh, yes, it is. it is fraud because he knew
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going into that fight that his shoulder was all messed up. he was -- you know, he wanted -- >> wait a minute this -- >> no, one more second. and he signed on this form under penalty of perjury that, no, -- come on that is fraud. >> this suit gets knocked out in the first round. we expect our athletes to be warriors they're going to have. >> no. >> they're going to have problems. >> every single time; right? >> every team has players with hurt arms. >> don't sign a form that says under penalty of perjury i have no shoulder injuries. >> yeah. but when we sign up for these take a look at it events, we want to be entertained, people were not in this fight and now people to want sue that's ridiculous. >> it's a bad fight everyone gets that, but he lied about it. >> john, let me ask you this. so you have represented sports figures before. >> never. these suits get filed they get dropped out.
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in pacquiao's case, he went to see a doctor before the fight. he had a doctor examine him they had a approach to take before the fight. he did everything he could . >> so then why is he asking for all the drugs right brit fight. >> why does he need those drugs so much? >> liked an aspirin. >> yeah. like a really good major aspirin. >> the punch count was had a of what it usually is. does that suggest something? >> he could have got hurt in the fight. >> i could have done that fight and done better for about has been. >> that might be a stretch. >> that might be a stretch. >> b fraud in the inducement, it's misrepresentation, all those legal terms out there because they apply and california and illinois all forget. >> no. suit has ever succeeded. if this happened in every game, there are going to be lawyers who are suing athletes saying, you know, what? this is awful something was wrong. you stubbed your tow.
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>> no, it's time for judge willis. >> no. no. boo. >> these people are just pissed because they lost money. >> by false inducement, if he didn't sign that form, i would agree with you. >> stop betting. >> i didn't watch the adorn thing, but i feel bad that these people did and paid 99.95 . >> do you think books boxing is going to be fair and e-mail are going to tell the truth? >> come on, people, no, that's not right . >> but you're saying if he signed -- >> if he signed that form and said i'm not hurting under penalty of perjury. >> we want -- >> who gets the last word, ruled for it. >> and because he won. >> athletes are warriors, not wimps. >> wow that was eloquent and short. okay., john and lisa, come back. you can win next week. and later in the show why starbucks hot coffee might
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have landed them in hot water. and you heard from the economist, now hear from the job seekers themselves. we'll head to a jobs fair in gary indiana after the break when cigarette cravings hit, all i can think about is getting relief. nicorette mini starts to relieve sudden cravings fast. anytime. anywhere. i never know when i'll need relief. that's why i choose nicorette mini. ameriprise asked people a simple question: can you keep your lifestyle in retirement? i don't want to think about the alternative. i don't even know how to answer that. i mean, no one knows how long their money is going to last. i try not to worry, but you worry. what happens
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>> welcome back to the willis report. in a moment i'll look at what it is really like for a jock job seeker right now but time for other stories in the news. saudi arabia declaring a cease-fire the five day cease-fire was announced during a joint news conference secretary of state john kerry. he says this means it does not call on the hewitt hutus in the part, and the manufacturing plant as far back as 2013. but according to a government
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probe, after what the fda says was inadequate cleaning, the company continued to ship ice cream produced in that plant. bluebell resilient pulled all its products from the shelves and said it will be months until they return. new england store is still digesting deflate gate report, brady making his first appearance he likely through through the championship. he said he would comment at a later time. and subtropical storm and look at that, like that first named storm of the 2015 hurricane season. it is expected to hit the carolinas this weekend and is going to bring up to four inches of rain. and those are some of the stories in the news tonight. well jobs numbers out today, you saw those. the labor market is improving but what is it really like for americans actually looking for jobs right now. jeff is at a jobs fair where hundreds of folks showed up hoping to be
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one of the 40 hired on the spot by an expanding industrial company. what are they tell you? >> it's raining right now, but they were out here by the hundreds for a very limited number of jobs. take a look at the pictures. the lines stretching out into the street. i tell you. a lot of people unemployed. you know, it's fascinating to spend a day at a job fair where you talk to nothing but people who are unemployed. we talked to the mayor, by the way, she's a democratic, but she said what we had been saying on fox business for quite sometime now, was that the unemployment number doesn't really reflect reality. >> it's always been our position that the reflected unemployment rate that is published, 8%, 9%, is a gross under estimate. so when you see people show up in these types of numbers to a job fair, it confirms that the
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least. but at the same time it also shows that we have a city of individuals who are ready to work. . >> and that 8 or 9%, by the way, that's the unemployment rate here in gary. she talked to people who were ready to work. we talked from to everyone from convicted felonies to gang members to guys who had just gotten laid off. you could hear the father in one man's voice as he was struggling to get back to work to be able to provide for his family. >> it's been tough. not too many jobs out there so i'm just trying to get whatever i can get with and try to grow with whatever company i can get with . >> take a look at the numbers you know, on because talk about the numbers not really reflecting reality. the labor participation rate. you take a look at those numbers, gary. year over year, no change. it's about 62%. that means 93 million americans, record number this month, are not in the labor
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force. not getting counted as unemployed because they're not actively looking for a job. they've either dropped out of the labor force or been discouraged. it's a incredible number when you think about it. >> jeff, how long were some of those people in the line out of a job? are they long term unemployed? >> some of them are. a lot of them here, particularly in gary where it's been economical depressed for a long time, and some people like i said i talked to a convicted felony, he said it had been tough but is some people not out of work very long and were pretty accomplished and had a pretty good work record. >> thank you for that report with purchase i appreciate it. >> you too gerri. >> well, we're wrapping up our rather within the only the best upgrades to boost your home's value but also the upgrades that buyers love. and one new jersey homeowner was sick and tired of his yard
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that caused his house to flood, so he did something about it. we have the backyard make over that you've got to see to believe. and here's the consumers gauge that means the most to you. ♪ do you want to know how hard it can be to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled copd maintenance treatment that helps open my airways for a full 24 hours. spiriva helps me breathe easier. spiriva respimat does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva respimat. discuss all medicines you take even eye drops. if your breathing suddenly worsens, your throat or tongue swells you get hives, vision changes or eye pain or problems passing urine stop taking spiriva respimat and call your doctor right away. side effects include sore throat cough, dry mouth and sinus infection. nothing can reverse copd.
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>> from drab to fab, tonight the users guide to the spring real estate market diving into a backyard make over we're going to see just how much value you can add to your home. you won't believe the before or after pictures we found. >> michael knew he had a fixer-upper on his hands when he bought this transitional style home in 2006. his backyard made it virtually impossible to use and opened up a whole pandora's box inside the house.
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>> some of the issues we saw were drainage issues. >> former home inspector said michael made the right decision to make over the backyard to make the backyard more at bay. >> right now we see retaining walls and the slope makes it really difficult to use the backyard. flooding is an issue because water runs downhill. and in this case it ran down the hill and flooded into the house. >> in october of 2012, super storm sandy slammed into the east coast reeking havoc on millions of homes including michaels, trees were down in the back and front yard where draining problems quickly became parent as well. what they found is that the gutters weren't really extended, and that's a real kwee key. it almost comes down to roof and gutter control, because
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that runs down the roof and typically those spouts are extended out one to two tv. really bad idea. you want to take those out four five, six feet from your house. the initial budget of $28,000 was spent in a flash. >> we were looking to create more playing area and more flat space in the backyard, and that morphed into, hey why don't we put a bar and barbecue. >> he spent over $25,000 and an 85% increase but michael says he's pleased with the final results. >> for the most part, i think we got our money's worth in the end. we are actually able to use our play set with the kids, flat playing area for them, and we created another room for obviously. . >> now if you're worried about buffeting your budget, tom says hiring a landscape architect is well worth the
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extra money. >> as you see things you're making changes those changes are very expensive and if you make a mistake along the way then you're going to be redoing something with so a architect in that planning is really really good. also picking materials to stand the test of time. >> always thinking about the on going maintenance is really important. so, for example choosing composite decking, a lot of work versus a little work. on the masonry side, making sure that the water doesn't fall, and then the material selection for long term durability is important . >> if viewers at home were considering a backyard make over tom says a back deck is a great place to start. >> you look at a deck in the new york area, just putting the deck on, do you know what the return of invest is on that? 100%. and the national average is 80%. . >> so what about what about the swimming pool?
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is it really worth it when you resell? >> you know, i spent 20 years as a home inspector and i've got to tell you as many folks love the pools have hated it. many times clients and how to from the pool in. so if you happen to find a buyer that loves the pool, you're in, but if you have a buyer that has young children and they're concerned about the safety then it becomes a detriment . >> so what's next for these new jersey homeowners. >> we think we have our next bang for our buck outside the next step is to really do inside the house. >> so we are moving indoors tonight to see which upgrade homeowners the most when they try to sell. founder of the money pit he's right here now. we had him on the package here he is on set with some great friendly advice. tom, that was just great stuff. it was fun to see what had were doing. >> yeah. >> i really enjoyed it. let's talk about inside. it's just my point of view that you shouldn't wait until you're going to sell to make the upgrades you need ambushed
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enjoy them too. >> well, absolutely and if you want to talk about upgrades that give you the best return on investment, installing a new front door always does. you get the safety and the security. you get increased curb appeal, and if you go with steel front door it's more than 100%, but fiberglass you don't have the rust issues. >> 100%, this isn't on every project you do. >> right. >> lots of them are lowering than that. you like replacing the garage door. >> yeah. it takes up a third of your house so you want it to look great the roi about 88%, that's really good . >> we're going to talk about the kitchen because that's my favorite place to be. >> yeah. >> and your major remodel which could be $56,000. >> yeah. >> a minor remodel is less. what are the on comments of each of those legislature here's the surprisingly thing
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about major versus minor. the major remodel gives you 67 percent, the major is 87. so you're figure out and astarting from scratch. maybe you're replacing the countertops, upgrading the appliances, improving the lighting. you know, you don't have to spend a lot of money to get a pretty good return. >> i love that. let's talk a little bit about the home improvements that people make that they shouldn't. >> right. here's a real surprise from 2014 to 2015. one improvement that had the biggest gabe in 2014 also had the biggest reduction in 2015 within and goes to was installing a back up generate. >> what? >> well, think about it, we hurricane sandy, if you had one in your house, it was going to be a lot of roi and it's a big difference from last year. >> and i think that's something a lot of people don't understand. every year that list is different. >> that's right. >> with homeowners value, what they don't value. >> yeah.
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>> it changes over time. you say eliminating a room or closet not a good idea. >> well, any time you get criticized rid of a bedroom the appraisers are coming in to value they're looking for how many bedrooms bathrooms if you get rid a bathroom, let's say you combine to a small rooms into a bigger room, unless you plan on being in that house for a long time, i don't think that's a good idea. if you're going to get something like a home office, not a good roi but if you tell putt it in a room that you can convert back and you can't get hurt . >> so one thing to pay attention to is over spending. >> yeah. >> you don't want to be the most expensive home on the block. >> no. if you build a great house on a street full of ranches, it's not going to pay off. >> i love that. return on investment. people don't think about it. you need to know how much you're going to spend. >> absolutely. >> thank you so much and thanks for the help on the package. >> thank you . >> coming up next the cop
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suing starbucks to a bank robbery suspect maintaining his innocence guessed "please." there he is right there.
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>> yes, another starbucks lawsuit over a hot coffee spill. and a bank robber who says the stick up is not a stick up if you just and nicely. those are a few of the stories this week with what is now personal expert. larry, so good to see you on a friday my friend. let's talk about this cop in north carolina. the co. walks into a starbucks, it sounds like like a joke. gets the coffee, it's, oh, by
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the way free, spills it in his lap gets third degree burns, and says he's suing for $50,000. what do you make of it? >> well, first of all i hate to have to say that he's a cop. i think that maligns cops everywhere adjudicating has been let's just say this guy spills his coffee in his lap. >> yeah. and it's free,. >> the words in that sentence is he spills coffee in his lap. he did this. no one did this to him. >> that's a good point. >> and he said he knew it was going to be hot, but he didn't know it was going to be that hot. there's a better way to measure hot versus than that hot than pouring hot coffee on your crotch. so i hope he doesn't get a dime on this thing. and what i really hate are the damages, when his wife said he
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lost his intimidate partner that was too much for me. >> let's move on. a virginia mom wom is suing verizon for 2.5 million dollars. she said the customer service call gave her a heart attack. >> she said the stress was caused because she was afraid that the police were going to come and arrest her after she told the customer service republican that she wanted to kill her and the customer service republican says i'm going to call the police. listen she brought this on herself. first of all, i am tired of a society that wants someone else to pay for their own stupidity and their mistakes and yet these two stories are perfect examples of that. >> on the other hand the lesson here could be that customer service could give you a heart attack. i am hello. >> it could cause brain damage >> larry, i never picked up
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the phone and said, please, help me. don't put me into the decision tree. [laughter] >> i've had my issues with verizon too. but come on. if you give somebody else like that power to give you a heart attack you've given them too much power. >> we have a good news story and on the sa agent returns his $100,000 watch we're never nice to tsa let's be nice to tsa. >> no. let's not. let's not even recognize the fact that we are honoring somebody for being honest. it's a darn shame when we have to point out that somebody did the right thing, and it wouldn't matter if it was a $10 watch or $100,000 watch an employee that we're taking repaying that an employee did the right thing and was honest. we shouldn't even know about this story. so i'm not given him too much credit yet. >> he were the right thing and he should have done it. larry. >> yeah. >> thank you. >> it was fun . >> have a good weekend. >> thanks. you too .
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>> all right. we'll be right back with the answer it of the question of the day. our irs tax corrections robbing from economic growth. stay with us ♪ (music plays throughout) ♪ the pursuit of healthier. it begins from the second we're born. after all, healthier doesn't happen all by itself. it needs to be earned... every day... from the smallest detail to the boldest leap. healthier means using wellness to keep away illness... knowing a prescription is way more than the pills... and believing that a single life can be made better by millions of others. ♪ ♪ healthier takes somebody who can power modern health care... by connecting every single part of it. realizing cold hard data can inspire warmth and compassion... and that when technology meets expertise... everything is possible. for as long as the world keeps on
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searching for healthier... we're here to make healthier happen. optum. healthier is here. you can call me shallow... but, i have a wandering eye. i mean, come on. national gives me the control to choose any car in the aisle i want. i could choose you... or i could choose her if i like her more. and i do.
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oh, the silent treatment. real mature. so you wanna get out of here? go national. go like a pro.
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gerri: our federal government set a record tax haul in april taking a half trillion dollars in one month. record high tax collections robbing from the country's economic growth? 96% of you said yes. 4% said no. and today marks the 70th anniversary of victory in europe. commemorating the end of world war ii. to honor that anniversary dozens of vintage military aircraft from world war ii flew over the nation's capitol. hundreds of veterans joined with speculators to see the planes to recognize the major battles of the war. flyovers happened occasionally after the war.
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flights over the mall are generally prohibited. that's it for tonight,'s willis report. thanks for joining us. don't forget to dvr the show. "making money" with charles payne is coming up next. have a great . neil: welcome everybody, i'm neil cavuto. and america we have a problem. a trust problem. across the nation, we're seeing a loss of faith in all our institutions. among all political ties. investors burned by the financial crash staying out of the stock market. homebuyers singed by the real estate meltdown staying out of the housing market. a generation of kids exposed to both showing little interest in either. trust and institutions town. their faith in marriage itself at an all-time low. parents who have lost confidence in a school system that failed their kids despite a government that says a syst

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