ashley: all right. before the break we asked this question, which animal has the strongest sense of smell? of course you would say basset hound. guess what? the answer is the african elephant. they can smell water sources, thank you, they can smell water sources up to 12 miles away. you know why? that really long trunk which is a nose. no wonder they have a great sense of smell. our time is up. david: asman in for neil cavuto. david: i heard the elephant call. i'm david asman in for neil cavuto. monday, april 18th, welcome to the coverage of yes, i hated to even say it, tax day, ladies and gentlemen. as the president says the wealthy are not paying quote, their fair share. wait until you hear how little our own president, talks about fair share, paid of his own fair

share. we have the numbers coming up. get ready to get mad. plus a montana governor greg giantforte is here as inflation slams his state, forcing residents in montana to pay much more than their fair share. and the battle over twitter is heating up. elon musk claiming quote, the game is rigged if his 43 billion-dollar bid fails. but first, to tax day. the irs is taking in more than ever but they say that is not enough. here with me, gerri willis. it is never enough for these guys. reporter: absolutely right. you will be astonished at these numbers, david. if you're a member of the 150 million american households that filed federal taxes today, well, congratulations you just contributed to the irs' biggest tax haul ever. irs collections hit all-time record for $2.1 trillion for the six months ended in march.

but irs, david says, is crying poverty. commissioner charles redigr telling the senate finance committee saying it needs more funding to do its job. assistant secretary for mick h economic polly, advocating additional $80 billion of irs funding over a decade, to step up collections and programs like new compliance initiatives, requiring online platforms to report customers with revenues over $600 a year. so much for that side gig. as gop lawmakers are accusing democrats of weaponizing the irs to failing to help address the backlog amid a difficult filing situations. 15 million tax forms from 2021 languished on irs desks last september, because the service has to input paper forms by hand. 24 million forms have not been processed all together. listen. >> taxpayers are in a difficult spot. there has been tens of millions

of taxpayers that have been impacted the last couple years, still waiting for refunds as long as a year old. reporter: all of this contributing to skyrocketing of costs of complying with irs paperwork. the american action forum estimates americans will spend $209.7 billion and 6.5 billion hours to file tax this is season. david: wow. reporter: that is the biggest jump in spending since 2008, the first time ever that costs have risen above 200 billion, david. david: how about a flat, fair tax? remember that idea of putting it on a postcard where everybody pays the same percentagewise? it makes sense to me. gerri, thank you very much. appreciate it. president biden, first lady jill biden made more money in 2021 but guess what? they actually paid less in taxes compared to 2020 and, they paid a lot less percentagewise than a lot of you have despite the president's fair share rhetoric. joining me now is jonathan

hoenig and mitch roschelle. jonathan, mitch, this segment is making me very mad, probably because of the fact over the weekend i had to do my own taxes and paid quite a bit more percentage wise than the president and first lady did. let me, if anybody is looking for the exact amount you can go to "the new york post." biden and taxes. google that. you will find their 2020 tax records which i got to give them credit, at least they put it on line. they paid 24.6% in federal taxes last year. i paid 37% in federal taxes this year. i'm sure a lot of other wealthy people, and i'm afraid i include myself in that wealthy batch, but, 37% is how much you're supposed to pay. they pay 24%. they're taking advantage of various deductions, point fingers other rich people take advantage of, jonathan? >> you shouldn't be ashamed for

being productive. we should be getting to the point as a culture and a nation, celebrate people making money, not giving it away, not giving it to the government, david. this is terrible. what is fair share? more than certainly you're currently paying in the eyes of the government. they always want you to pay more and more. the idea it only affects the so-called rich, if money wasn't going to the government, david it would be invested, invested created more wealth for the wealthy, everyone else. this is a terrible way of looking at politics, looking at america, the more you're paid, more expected to pay, more expected to pay by government and biden doesn't pay as much as the so-called rich. david: again it is the rhetoric. rules for thee not for me rhetoric that kills me, mitch. the fact he goes on and on about the rich is not paying fair share. he is rich and he is not paying his fair share? >> well, how about just some facts which every time i hear the administration, the

president whispering it, fair share the way he always does or jen psaki from the podium i want to throw facts in their face. this is from the tax foundation. top 1% of earners pay a quarter, 26% of all the federal income taxes that are taken in. the top 50% of wage earners pay 97% of all the taxes. so when the top 1% is paying 26% of the tax load, i think that seems like their fair share. so i just think it is a handy thing to say. it sounds good on the campaign trail. sounds good when you're trying to jam bad policy down someone's throat, but it is not factually correct to say the rich do not pay their fair share. david: jonathan, he was a tax dodge himself. in 2017 he used this tax dodge, creating this corporation, this s corp, a lot of people said he wasn't entitled, which obama was trying to get rid of this tax

dodge. he avoided $500,000 in taxes according to "the wall street journal" pause of using this tax dodge. why can't we get rid of all the deductions, have a simple flat tax, 20% that everybody pays? it would, it would be a lot more fair? you want to talk about fairness. a 20% flat tax, paid by everybody, get rid of all the deductions so you don't have anybody paying zero taxes or too little what about that as a solution to all of this? >> david, a fair, a fair tax or a flat tax was proposed in this country by our own steve forbes. that would be laughed out town these days because, a flat tax isn't seen as fair. what is seen as fair is punishment and punishing specifically the well to do, successful, the rich. they created the wealth. according to today's culture, they're the ones that have to be punished. how? so-called giving it back. we should be applauding success. we should be applauding wealthy

people because they got wealth creating value. we need more creating values, not giving them away. certainly not giving them to the government with more excessive taxes through the biden administration. david: mitch, another thing bothers me, this is more of a personal thing. i know people's charity contributions is more of a personal thing. biden spent $17,000 on chairable donations in 2021. that is less than 3% of their income. we hear a lot about tithing. by the way $5000 of this, went to a family foundation, the bo foundation. kamala harris, by the way, she and her husband made a lot more money, $1.6 million. they spent 1.3% of their income on charitable contributions. again, you know, you hear a lot of rhetoric coming from these politicians. because they come out with this fairness and charity rhetoric, we got to give it right back to them. they're not paying their fair share in charity contributions as well as to the government.

>> you know -- two-ways, david. i agree with you. sort of emotionally that somebody in that position should be more charitable, or, there should be a rule that if you're an elected official you can't give to any charities because one could argue there is favoritism there. since that rule does not exist, i would expect elected officials who have their hands out all the time looking for contributions for their respective campaigns would be giving it back to the communities they serve, their very constituents, supporting them, especially in the last several years when we were in tremendous times of need. so shame on the president and vice president for being less charitable than we all are. david: you would expect it, but, frankly, mitch, jonathan, i don't expect anything from these people anymore. they are just a bunt. of hypocrites. hypocrites with bad policies that don't increase the general

welfare of the population. in all ways. we'll come back to you, gentlemen, in just a moment but we want to remind our viewers not to miss a fox business special, the great larry kudlow, who knows more about taxes than the man who actually cut taxes for both the reagan administration and the trump administration, the great larry kudlow, has a special on taxes today. it is the peoples money. he has a wonderful group of guests. senator pat toomey, representative kevin mccarthy, steve moore, steve forbes, grover norquist, a whole host of folks that know how to deal with taxes. you don't want to miss that. 4:00 p.m. eastern time on fox business. meantime twitter's ceo is telling employees he does not know when the board will have an answer on musk's 43 billion-dollar takeover bid. lydia hu joins me now as we wait the decision. this is a great news story, lydia. reporter: the plot thickens. even though we await the

decision, response from twitter, it is not slowing debate on twitter when should come next. venture capitalist david sachs tweeted over the weekend, quote, if the game is fair, elon will buy twitter. if the game is rigged there will be some reason why he won't be able to. we're about to find out how deep the corruption goes. elon musk replying to the tweet with, indeed. musk for his part doesn't seem to be backing down. he added today, his bid to take the company private is successful, board member salaries would be taken down to zero dollars. they currently get paid between 250 and $300,000 a year. these tweets follow the twitter board's unanimous vote to have a poison pill to fend off the bid by elon musk or takeover bid i should day. it just insulates the company from a hostile takeover. it is not formal rejection of the bid.

it provides them time. we do have our eye on the twitter stock. this is the first day of trading resuming signs the markets were disclosed on friday. that was the day the poison pill was announced. some had concerns musk would sell off the 9% interest after the poison pill announcement which could bring down trading but we right now see trading at the moment right now quite $47. still higher than the roughly $45 we saw closing on thursday. still lower, david, than musk's bid of roughly $54 a share. of course that is just fueling the debate whether elon musk's offer of $43 billion truly reflects the value of twitter. david: right. of course it went down to $31 before he showed an interest in it. reporter: right. david: i think his interest in taking the company private or at least taking over management that has put the price up a bit. reporter: right, exactly. david: lydia, good to see you. thank you very much. regardless what happens elon musk's offer is exposing a lot

about twitter, the rights of shareholders. back with our panel now. jonathan, first of all, the idea of a poison pill way of avoiding, avoiding the takeover by elon musk, this is, this is a group of, this is an in effect a way of insulating management from the pushback by shareholders who don't think the company's doing all it can do. i mean it's actually against the interests of the shareholders, is it not? >> well, david, it could be. shareholders are voluntary shareholders. when we start talking about the rights of shareholders, shareholders can be shareholders or they can sell the stock. they can do it today even as the stock is up a little bit. twitter has been mismanaged. we can't just talk about censorship, it has been mismanaged for years. this is another example of it. elon is bidding $54 a share. the stock is trading below that. the board of directors want to

keep him buying potentially more of the stock this company has been mismanaged for years. there is so much competition, tiktok, facebook, numerous other competitors, the president's own dwac enterprise looking to take a little bit of at this timer. if they don't get management right, the company will not be around in the current form whether elon or someone else. david: mitch, i will talk in the next hour with charlie gasparino and others how the editorial content how that might change under the directorship of somebody like elon musk, but bottom line is, do you think the government, because they, so many democrats in congress and of course in the white house are afraid of elon musk opening it up, opening up twitter in a way it hasn't been by its woke management currently, do you think they're using the regulatory apparatus of the government to try to stop elon musk from taking over? >> well, elon musk has been fighting regulators, the sec for

one for years. he isn't one to back down from a fight. so maybe they're amping that up a little bit. i do think that politicians, perhaps on both sides of the aisle are a little worried about elon musk but here's the challenge, does congress regulate social media industries and companies and deal with this, you know, arcane regulation about whether or not they are media companies or not, or do they let the free market solve this problem and i think what the left is most concerned about is a free market solution. david: bingo. >> letting a business person take over to solve the problem. david: the left hates the free market. they have shown that time and again. gentlemen, thank you very much, great to see you both, john than an mitch. coming up the biden administration allowing oil and gas leases to resume on federal land but, there are a couple of huge provisos to that which could actually make it even

harder to produce more oil. we've got details on that coming next. ♪.

your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire (all): all hail, caesar! pssst julius! you should really check in with your team on ringcentral. oh hi caesar. we were just talking about you. yeah, you should probably get out of here. ♪ ringcentral ♪

♪. david: drill, baby, drill. the biden administration announcing that oil and gas leases on federal land will be

allowed to resume, but, there are several catches to that. fox business's madison alworth joining us now to tell us the details. good to see you, madison. reporter: good to see you, too. this is a big announcement. this is the first time the president took office that the federal government will offer new drilling leases on public lands. the issue though, the amount of land offered up, they are much lower and royalties are much higher. government increasing royalties on the new leases. take a look at this. this will be 17.5%. that is up from 12.5%. quite the jump. when you look at the potential drilling sites, the bureau of land management is expected to make 144,000-acres of land available in the states highlighted there. that might seem like a lot but the industries was asking for five times that amount of land. in terms of what was being investigated for leasing we're only looking at 20% being made

available. so the american petroleum institute telling fox we are pleased to see the interior department finally announce a restart to the long-delayed onshore leasing program required under the law, but, we are concerned that this action adds new barriers to increasing energy production, including removing some of the most significant parcells, right? talking about the land being made available. all of this, doing little to nothing to help americans that are struggling today with energy prices. as experts warn that consumers should prepare for pricing to go back up again. >> well unfortunately i don't have good news for the consumer. i see it rising another 10 to 15 cents a gallon, up to $4.20 on a national average. reporter: david, he says that we should expect to see the oil from these leases hit the market in about a year's time. right now we're still dealing with high prices. david: we're still dealing with, they're still dealing with

pipeline problems, pipelines getting shut off. of course you can't drill if you don't have a place to put the oil you get or gas, whatever it is. there is a lot of problems. thank you very much, madison. as an example of all of this, take a look at two headlines, npr, national public radio reassuring its audience that biden is still pushing the green agenda. biden increases, here we go, biden increases royalty and scales back lease sales on federal lands but here is nbc's headline, saying the biden administration is encouraging more u.s. drilling. so which is it? joining me now is mac energy corporation vice president of private and public affairs claire chase. claire, you have two different views what happened over the past few days, whether the biden administration is now pro-u.s. drilling or even more against it than it was. what's the truth here? >> well, you know i think the truth about the biden administration is that he is confused which seems to indicate on a lot of his policy issues,

by allowing the lease sales of these 144,000-acres, you know, i know that he is trying to send a signal well, we're supporting american oil, but to the point that madison made right before me, it is not, 80% less than what we're trying to lease. and so we have no idea if those 144,000-acres are even in areas that we're going to need leases. we have no idea what that will look like. by the time they actually undertake the lease sale, i mentioned before it takes about a year for us to have an application for a permit to draw approved with the federal government. it will take us that, we have to lease. it will take us a year to get the permit. then we have to find the supplies, new equipment, drilling rigs, people to man it up. we're talking about a year, probably more like year-and-a-half, two years down the road before we're able to even see the outcome of this. why he banned it in the first place is still beyond me. david: well they are big about talking about all the leases that are not being used by the

oil companies. that is what jen psaki has been saying. 9,000 leases, et cetera. it doesn't mention the fact that 2200 of those leases are being challenged in court. so nothing can be done at all about that. so there is only 6800 leases outstanding but the permits, once you get the lease, it is not the end of the story. you can't just go to drill where you want. you have to get permits from all the different government regulatory institutions. there are so many different hoops that you have to jump through in order to actually start drilling, right? >> yeah. that is exactly right. and you know, i think it is interesting too, as we mentioned the royal at this rate increase. majors of the world, that is something they can afford but really mom-and-pop operators that will struggle with that. much they're the ones that can drill maybe one well a year or a couple of wells. and so when they're having to pay more to get that done, they're the ones who aren't going to be able to do that. they make up a lot of producers here in new mexico for example.

there are quite a few in texas. so i really think we have to pay attention to sort of what's between the lines. what the biden administration is saying to us, which is that, you know, we're sort of throwing you a bone but not really. david: yeah. >> i think it is really tough. if they really wanted to unleash american energy production they would release all the acreage we asked for. they would allow the application for permits to be completed faster. they would help us with the supply chain issues. they're not doing that. david: they will not do that. you were very kind and diplomatic in the beginning. you said they're a bit confused about their energy situation. i think it is more than that they're trying to walk this tightrope between the left side, the far left side of their party, that says that wants them to keep the green agenda, that wants to keep promises to kill fossil fuels. and the vast majority of voters who want cheaper gas for their cars, and cheaper oil for their houses and everything.

and they want, that is why you have the biden spin that they are actually encouraging more u.s. drilling when actually the drillers, when you talk to the drillers, they say, no such thing. >> no, that is exactly right. and it's, we've been able to leave the reduction of carbon emissions in the united states because of natural gas. because we've been able to find that, make better use of that cleaner-burning fossil fuelings we reduced emissions like methane, carbon ozone emissions. the fact that the biden administration is going around begging other countries to produce more oil with the worst environmental standards in the world. david: they're begging countries like venezuela, which produce in the dirtiest imagine imaginable. they're terrible producers and the oil they produce is dirtier. while at the same time shutting down our natural gas operations which have cleaned the air. now we are using more coal for the energy needs than we used

to. we used to use 20% for our energy needs of coal in 2021. that went up to 24%. it is going higher in 2022. >> yes. that is exactly right. so, again, it doesn't really make a lot of sense when they say we're all about climate change. if you're about climate change, then you would allow again american energy producers to be able to do this. by the way, go ahead and approve all those lng terminals permits waiting to be built so that we cannot only continue to provide you know, our own natural gas here in the united states but then to be able to ship it to europe, obviously right now is facing a huge crisis because of the russia situation. david: absolutely. >> i really think the biden administration does not have any idea what they're doing and it is causing issues not just here in the united states with consumers at the gas pump, what they're paying for the heating bills but also worldwide. oil is certainly a geo,

political, global commodity that is important and he mass to be smarter about the way he is doing that. david: that is what happens pleasing your political opportunists on the left, far left, more important than pleasing american consumers who are now suffering terribly by these ohio costs. claire, great to see you. thank you very much. claire chase, appreciate you being here. >> coming up the 10-year treasury hitting the highest level in more than three years as inflation skyrockets. what it means for earnings this week with financial and tech companies about to report. more on that coming next. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living.

we got this! let's partner for all of it. edward jones we hit the bike trails every weekend let's partner for all of it. shinges doesn't care. i grow all my own vegetables shingles doesn't care.

we've still got the best moves you've ever seen good for you, but shingles doesn't care. because 1 in 3 people will get shingles, you need protection. but, no matter how healthy you feel, your immune system declines as you age increasing your risk for getting shingles. so, what can protect you? shingrix protects. you can protect yourself from shingles with a vaccine proven to be over 90% effective. shingrix is a vaccine used to prevent shingles in adults 50 years and older. shingrix does not protect everyone and is not for those with severe allergic reactions to its ingredients or to a previous dose. an increased risk of guillain-barré syndrome was observed after getting shingrix. fainting can also happen. the most common side effects are pain, redness, and swelling at the injection site, muscle pain, tiredness, headache, shivering, fever, and upset stomach. ask your pharmacist or doctor about shingrix. shingles doesn't care. but you should.

do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our

retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. ♪. david: so march inflation at a 41-year high and fedex ceo fred smith says it actually could have been worse. smith telling "the wall street journal" quote, had we passed the "build back better" bill that biden wanted, my guess is that

we would have wermar germany, 25% inflation rather than nine or 10% inflation. our panel, jonathan hoenig and mitch roschelle back with me now. mitch, do you agree with fred? >> absolutely. the inflation story is very simple. we overstimulated the demand side of the economy and we've done nothing to fix the supply side of the economy. it is basic economics. "build back better" was a massive stimulation of the demand side of the economy, would have been printing money recklessly. so yes we would have seen if it was passed, if the money presses started running we would have seen, much, much greater inflation. david: jonathan, i saw gold at 2,000 this morning. it pulled back a little bit but not too much. >> people are looking literally for places to save, david. that is what inflation is. it is not caused by a supply chain, or greedy ceos, caused by government expansion of the money supply. fred smith gets it, he built a

few successful companies over the years. that is what inflation does. destruction of purchasing power. makes things more expensive. destruction of savings, destruction of wealth creation. it is destruction of production, that is what we're seeing day in, day out, exactly the money printing biden facilitated and continues to facilitate to this day. david: mitch, we came so close to the bbb getting passed. fred smith talked about this, he credits two senators. of course joe manchin from west virginia and krysten sinema from arizona. he credits those two senators preventing 25% inflation we could be having now if it is not bad enough. so, are we ready as a country for a pushback to these bad policies that created this inflation? >> i don't know because the administration is still touting these bad policies. i mean, they're ongoing rhetoric that "build back better" was

actually going to fix inflation, suggests to me that there is very few in the oval office or in the west wing that understand basic economics. so what we need to do is tighten the purse strings, cut back the fed's overstimulation of the money supply and, if it means there is recession down the road that perhaps may be inevitable but more reckless spending is not the solution to an inflationary environment. david: jonathan, we have seen the market come down or at least kind of get stalled in the past couple of months as a result, i think, largely of what's happening on the broad economic front but you see earnings, so far they're okay. bac, the bank of america came out this morning, beat on both the top and bottom line. they're up about 3 1/2% right now. i don't know if you put bank of america, bac, up on the screen.

others reporting j&j, johnson & johnson, proctor & gamble, netflix will be reporting. do you think right now, this inflation story, it's too soon for it to catch up with corporate earnings? >> well it as long-term story, david. keep in mind the inflation we always think about being so terrell in the late '70s, it started a decade earlier. it was exacerbated by governmental policies along the way. price controls are one of them. inflation does help, you have to put that in quotes, no one is helped by inflation but it steers capital to some sectors of the economy like banks. they're helped, if you will, makings at higher and higher rates of interest. people keep waiting for fed to raise interest rates. two years ago the 10-year note a .1 of a percent. now it is 2 1/2%. we've seen effects of inflation. going up in dramatic rate we've never seen in our lifetime. interest rates move quickly, so

fast hurting so many americans. david: mitch, even banks haven'tly fail if we get into high inflation in the long term, the fact people stop borrowing. they simply can't afford to buy things including housing. i'm wondering if the housing industries as a whole will continue to suffer. we're 5% 30-year fixed year mortgage. if it goes up to 6,%, a -- 7%, a lot of people will think about buying at all. >> every time the fixed rate 30-year mortgage goes up 1%age point it takes 10% of the buyers out of the market. the only good news with housing, we have massive supply demand imbalance. we don't have enough homes. that will put pressure on it. go back to the banks, what we've seen in the first quarter, net charge-offs banks writing off loans are declining. the other risk you have in inflationary period if the economy slows down as a result, you have more businesses

failing, more credit risk at banks. banks are a good place to be in a period of rising interest rates but you have to figure out when the break even point whether the higher interest rate is hurting their business. david: bingo. mitch, great to see you. jonathan, always a pleasure. coming up new records revealing dozens of suspected terrorists caught at the southern border and officials say the crisis could get even worse. we'll take you live to texas coming next.

♪ ♪ we believe there's an innovator in all of us. ♪ that's why we build technology that makes it possible for every business... and every person... to come to the table and do more incredible things.

david: u.s. health officials now confirming that china's zero covid strategy is unlikely to work at all. fox news correspondent jonathan serrie has that story. a lot of us suspected this was true. now the government is saying so as well, right? reporter: yeah, now there is more bad news out of china. earlier today shanghai authorities confirmed the first covid-related deaths associated with this latest outbreak going

on in this massive chinese city. health officials say all three victims were elderly, had preexisting health problems, and were unvaccinated. although china report as vaccination rate of 90% of its total population, the figure is only 62% for people over 60. those are the people that you most want to protect against covid. the authoritarian government is still enforcing strict lockdowns in shanghai despite growing complaints from residents. the white house's new covid-19 response coordinator said china's zero covid strategy is unlikely to work against the highly contagious omicron subvariant ba.2 which is driving the latest surge. >> that's why our strategy which we have advocated people should get vaccinated and boosted. treatments are available. that is a much more effective long-term, durable strategy for differencing with this virus. reporter: today philadelphia

becomes the first major u.s. city to reinstate its indoor mask man tate. several individuals and businesses are suing to block it. they point out the cdc currently lists philadelphia county as a low-risk area. david, back to you. david: by the way, people would say there have already been fatalities because of covid in china. those have come from the horrible policies where you see the terrible shots of people jumping out of their high story apartments in order to avoid these awful, awful lockdowns withry totalitarian. jonathan, thank you. reporter: absolutely. david: we'll leave it at that. meanwhile our out of control border crisis is about to get a lot worse. cpb records obtained exclusively by fox news that two dozen known or suspected terrorists were caught at the border last year. those apprehension are a small snapshot of the migrant surge is about to get hit by a new wave

as the administration kills off title 42. bill melugin is live along the border in eagle pass, texas. title 42 goes away on may 23rd. people are expecting a lot more migrants then, aren't they? reporter: they certainly are. good afternoon to you. i obtained a cpb record through a freedom of information request which reveals last year there were 23 known or suspected terrorists who were encountered here at our southern border. take a look at this graphic right here and we'll dive into the numbers for you. you're looking at the hits on the stt sbd. the terrorist date at that base by the fbi any. four hits in san diego sector, two in yuma, two no tucson, three in el paso, four in del rio and four in the rio valley sector. those are people they caught, only the ones they know about. why is that a concern? look at file video, as you look at are uppers here.

cpb telling fox news sources that in the last month alone, 300,000 got-aways at our southern border. massive amounts of people are making it that the country without being apprehended by border patrol. tom homan says that is major concern when you see the dhs hits. he says the secretary mayorkas has to wake up when it comes to national security at our border. >> he knows that. he is the secretary of the homeland security. at what point does this man have enough integrity to tell the white house i cannot keep this border open no matter what because we've created a national security issue of the highest proportions? if he had any integrity at all, he would tell the white house no, we need to secure the border. reporter: in the meantime mass releases of migrants continue to happen day in, day out. you're looking at video we shot here in eagle pass, texas, this morning of one of those mass

releases. upwards of 500 people are being released at this single ngo this morning. we saw busload, after busload, dropping them off. we've been witnessing this sort of thing for months. not just del rio but in brownsville where border patrol facilities are overcapacity, still ahead of title 42 dropping next month. back out here live, a federal court filing we obtained shows the federal government released more than 80,000 illegal immigrants into the country in march alone. when you add that with 60,000 known got-aways in march alone, we're talking upwards of 140,000 people crossed illegally, still in the country right now just this last month alone. back to you. david: out of control. bill melugin, great reporting as always, bill. thank you so much. coming up crime is surging all over america. three mass shootings over easter weekend leaving dozens injured. now the new york city mayor says the policies of his own party

are a big part of the problem. that's next. at jp morgan, the only definition of wealth that matters is yours. it can be a smaller house, but a bigger nest egg. a goal to work toward, or the freedom to walk away. with 200 years of experience, personalized advice, and commission free trades on an award-winning app, we are working for you. planning. investing. advice. jp morgan wealth management.

you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire you know liberty mutual customizes your car insurance, so you only pay for what you need? like how i customized this scarf?

check out this backpack i made for marco. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ [ sigh ] not gonna happen. only pay for what you need. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer.

and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call... for $1500 off your kohler walk-in bath. visit kohlerwalkinbath.com for more info. >> welcome back to "coast to coast." i'm garrett tenney t was a violent easter weekend with

three mass shootings across the country starting in pittsburgh where investigators are still trying to piece together exactly what happened when a massive gunfight broke out early easter sunday at a party at an airbnb rental home. several hundred people at the party, most of them teenagers were sent scrambling for their lives as nearly 100 shots were fired by several people first inside and outside of the house. two teenage boys were killed, eight others were injured by the gunfire, five others were hurt trying to escape, including some who jumped out of windows. so far no one has been arrested. >> i definitely never seen a party like that but even at 11:30 when we stopped by, it was very obvious there was going to be a problem. >> this is something that shouldn't have happened. this goes back to having too many guns, too many illegal guns on the streets. too many people who have access

to the illegal weapons. where they can be used at this. reporter: in south carolina two mass shootings this weekend. one at a bar in the town of fuhrman, that left at least nine people injured. the other at a busy shopping mall in columbia where 14 people were hurt. >> getting out of the mall. something going on just now. okay, girls. columbiana mall, just now. reporter: one suspect in custody for that shoot something now back at home and will be able to go to work this week. on sunday a judge set dewayne price's bond at $25,000. required him to wear a ankle monitor, placed him on house arrest, apart from going to his job. price's attorney says the 22-year-old was acting in self-defense, turned himself into police. had no prior convictions. in 2018 price as arrested in charge of accessory before the fact in murder of a 17-year-old.

ultimately a grand jury dropped the charges finding there was no sufficient probable cause. david: incredible report, garrett. thank you. new york city mayor eric adams is weighing in own the rising crime rate in america and blaming progressive politics right now. listen. >> reforms of the progressive left, well-intended, some needed but a step too far. what we have as a result is this growing fear crime is growing, actual amount of crime as evidenced in almost every major american city. >> is commissioner bratton right? >> yes. i believe he is right. he understood what we had to go through during the mid '80s, early '90s, when we had to transform policing the major mistakes made throughout the years that destroyed the trust that the police commissioner is talking about. we have to rebuild the trust. we can't rebuild that trust by allowing those who are dangerous and that have, have repeated

history of violence to continue to be on our streets. david: "new york post" columnist, fox news contributor michael goodwin joining me now. michael, we have only about two minutes but it is not getting better, that's the point. a lot of people hoped it would particularly voting a cop in, former cop as mayor of new york but bad guys are getting out right after they're arrested. cops are not there when you need them. >> that's right, david. and i think the point of commissioner bratton was making, and mayor adams was seconding has to do with the progressive, the anti-police rhetoric that took place in new york and elsewhere. it is a fascinating time to reconsider that because i've always believed that it was a lie, that the black community, latino community, they did not hate the police. they didn't like stop-and-frisk necessarily but i, quickly refer to a poll from january of 2013 in new york city. ray kelly, the police

commissioner, had 75% approval. david: wow. >> overall. among blacks it was 63-27. among latinos, 76-18. so that is how the community felt about the police. it never bought into the progressive argument that the police were all racist and bullies. but the political class sure -- surrendered. that is where the trouble began. david: i wish ray kelly had ran for may himself. the bottom line, governor of new york, governor hochul a couple weeks ago before the subway shooting was praising the bail reform laws, so-called reform laws that let horrible criminals out and she was saying that the bail reform laws was so successful. she said fewer new yorkers are kept behind bars just because they can't pay. that's a measure of success? quickly. >> well, yes, there is no discussion of the victims of these crimes. it is simply a sympathy and an

empathy for the criminals that somehow their rights have been violated when they are the ones who have caused the havoc and hurt and sometimes killed innocent people. >> right. protect the innocent. that is what law and order is all about, protect the innocent, not the guilty. michael, thank you very much. coming up in the second hour of "cavuto: coast to coast" we'll talk to montana governor, greg giantforte but how his state is battling the surge in inflation. don't miss it. aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. . . . (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different.

living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause status. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor start an anti-diarrheal and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain, and rapid breathing or heart rate, or if you're nursing, pregnant or plan to be. every day matters. and i want more of them. ask your doctor about everyday verzenio.

♪ ♪. david: ideas all going up president bite into approval is going down welcome back to the second hour of cavuto "coast to coast" i am david asman inferred yellow cavuto. >> today the president hosted the annual white house easter easter egg roll and took a two-year break during the pandemic but now it is back in its more expensive than ever because of inflation, the white house died over 14000 eggs for today's event the price of a dozen eggs is up 85% compared to last year and the price spikes like that are a drag on biden's approval rating you can see from this chart inflation is writing

and president biden is dropping, the white house knows that is a problem in the polls but they're not taking ownership completely. >> the republicans have no plan for this, no plan to address inflation, we all agree it's a huge problem number one issue in polls, everyone thinks costs are too high, often times we get a little cannibalistic about what our own plans are and whether the goodenough were passing them fast enough or what have you if you look at the other side there's nothing in the cupboard republicans are not shy about what is causing inflation and what the fix is reining in government spending. >> were not overconfident but you have to look at why is the president's approval so low it's the wasteful irresponsible spending that has led to higher prices and inflation. >> a software company how many

times politicians in washington have talked about inflation they found republicans talk about inflation six were the democrats. some democrats are quietly speaking up, top progressive lawmakers too an e-mail yesterday, i become very concerned that most of us are not appreciating how terrifying rising prices are and for most americans unlike nearly every other issue that can be ignored in their daily lives inflation insist on voters attention, young people's attention is perking up to rising prices, the gallup poll the change in the proven, gently dropping 21 percentage points, millennial's, 50% drop, and a poll showing more approval numbers among young people 50% of them between 18 and 34 years of age disapprove of the job the president is doing. david: senator joe manchin is another democrat speaking about inflation for a long time ever

since it really started to pick up. great to see you, thank you so much, i appreciate it. with president biden upholding well as we were just talking with the younger generation members are pushing the president to cancel student debt they think that will help with the younger generation, chad pergram explains. >> as hillary mentioned president biden's poll numbers with younger voters are scrambled right now, so far the president hasn't moved to cancel student debt some democrats want him to do that with the stroke of a pen addressing student debt is an important thing that he can do. >> student debt is one of the very biggest things holding our economy back, would people have to pay the check every month for a loan often they signed up not even knowing what they were getting into when they have to do that pay those checks they are not buying a car or establishing a career.

>> white house spokeswoman jen psaki said expect a decision too the moratorium to pay back student loans between now and the end of august the white house has said congress should tackle the topic with legislation, the government has paused the payments on many student loan six times during the pandemic. >> we will continue to assess every month, every few months on where things stand looking at covid but also economic data and where we need to continue to help give the american people breathing room. >> nearly 15 million millennial's a when average of $39000 in student debt. democrats blocked the votes to move on their own but they seek student debt as a winning issue in the midterms, progressives want the president to cancel up to $50000 in debt per student. >> thank you very much our next guest says the biden administration has to stop

passing the buck and get inflation under control, montana governor joins me now. great to see you, thank you very much from the great state of montana, i do love your state more than i can tell you, we just heard senator schumer make the incredible statement that infection people are not buying cars because of student debt, they're not being cars because they are so expensive now if you can get one, inflation is through the roof on everything let alone buying a car. i think they underestimate the degree too which generations the and generation x get why we have inflation because of all the government spending. >> one runaway inflation is robbing americans of a paycheck, goes for millennial's for middle-age folks to people in retirement, i was out over the week in a home depot getting a few items and i talked to the retail clerk, she had just gotten a raise, was completely

consumed at the gas pump at the grocery store, this is what's holding us back it is the reckless spending coming out of the biden administration. we can do much better. >> the president comes out all about putin's price hike, i think we have a chart that we can put up dishes from 2017 through the biden administration so far, you can see the trajectory of inflation began right after he was elected, people knew about his war on fossil fuels, they knew that would cause inflation not only at the pump but the auxiliary inflation that results from the problems with oil and gas in the government spending, you can see it did not start with the russian invasion of ukraine and began long before that, people don't buy that do they? >> no the inflation is caused by runaway federal spending we saw

10.4% inflation in the rocky mount west last month year-over-year and again, it is consuming people's paychecks. it is a stark contrast with the way republican governors are leading our economic recovery we've been balancing budgets and cutting spending and lowering taxes and as a result montana we discussed the lowest unemployment ever. 2.3% and we see this going it is the fourth lowest in the country we have more people working in montana than ever before but we would like to see their paychecks go further, that is why we have to stop the reckless spending in washington. david: congratulation on your move towards cutting people back to work. we've moved a lot of the

disincentives for working, a lot of the money that was being spent on covid relief with keeping people at home, some democratic governors and mayors do not get it we had the mayor of chicago mayor lightfoot giving covid funds to get people $500 a month for staying at home, the democrats don't seem to understand the whole quality of incentives and disincentives. economics matter we are the first in the country to get rid of the supplemental unappointed benefits and we have seen over a 90% drop in an appointment we have more people working in montana than ever before. economics and incentives matter, we should be in scenting work not sitting at home on the couch. i would say we need a safety net, it should be a trampoline to get people back into the workforce, not a hammock where you hang out. david: a lot of people are afraid of shortages resulting of not only the supply chain shortage but inflation the fact that prices of gas are going up

and oil is going up so much we cannot make enough fertilizer, a lot of that comes from natural gas the fertilizer and without fertilizer, you have a lot of farms and cattle ranches in montana, are using their problems with that? >> absolutely input cost for the farmers and ranchers have gone through the roof, what do you need for a farm, unita fertilizer, natural gas is a huge input cost to fertilizer, people are seen doubling and tripling of the cost of fertilizer in a family-owned farm or ranch, these are the things that eat up the margin and prevent you from having a profit, were seen across the board, this is the result of the biden administration we see a double whammy under agricultural sector. david: the best me i ever had was in montana from grass fed

beef, are we looking for shortages, the best fish and trout was from the gallatin river, it helped that i caught the fish, are we going to see shortages? are we at the point where we may not -- people in the east and elsewhere may not be able to get the meat that they need? >> i want you to know that montana ranchers are going to continue to produce the best beef in the world, we just recently announced in the last year we doubled our meat processing capacity here in state and we are just the tenth state to enter into an interstate compact with the usda now the ranchers can ship the beef too any state in the country. we appreciate you writing for the brand. david: is incredible brand, you relieve my nerves, a big meat

eater, great to see you, thank you so much, i do want to forget the trout streams and wanting it. thank you for being here. appreciate it. >> russia is ramping up the aggression, more on that when we come back. ♪

♪ we believe there's an innovator in all of us. ♪ that's why we build technology that makes it possible for every business... and every person... to come to the table and do more incredible things. better hearing leads to a better life. and every person... and that better life... ...starts at miracle-ear. it all begins with the most innovative technology... ...like the new miracle-earmini™. available exclusively at miracle-ear. so small, no one will see it. but you'll notice the difference. and now, miracle-ear is offering a 30-day risk-free trial. you can experience better hearing with no obligation. call 1-800-miracle right now and experience a better life.

at xfinity, we live and work

in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. faster than a gig. supersonic wifi. only from xfinity. it can power hundreds of devices with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity. so many people are overweight now, and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's release from golo. it naturally helps reverse insulin resistance, stops sugar cravings, and releases stubborn fat all while controlling stress and emotional eating. at last, a diet pill that actually works. go to golo.com to get yours.

david: russian missiles struck the ukrainian city of lviv killing seven people and wounded 11. jeff paul is on the ground with lviv with the very latest of the devastation. >> the very tenth time in lviv, many folks waking up not only to the sounds of air raid sirens but news that this city has been hit by russian forces, preliminary information shows four targets were hit, seven people were killed and what would be the first wartime death in the city shortly after the strike black smoke from multiple points on the city. emphasizing the building for not being used by the military the fourth strike hit on the auto repair shop two days after

ukrainian forces shot down multiple missiles in lviv, comes a little more than three weeks since russian forces hidden oil depot outside of the city center with president biden's visit. >> i think it is not safe anywhere in ukraine i hope it will be over soon when five missiles hit today i woke up because of the explosion i was worried and unfortunately people died this is not good at all. >> making people leave is the main goal. >> today strikes come as the orthodox christian group in ukraine and throughout the world begin to celebrate or go into holy week leading up to easter celebration for the orthodox community on sunday the mayor and lviv emphasizing the latest strike underscores the entire country is at war no matter where you are at.

david: please be careful, thank you for that report, as russia steps up the strikes of the worst to come form or call commander says russia will likely remain ruthless. >> with united states nato and other countries need to look at is very clear russia does not care about human rights, they do not care about international law, they do not care what effect they have in the fighting that is going on in ukraine. at this point we will have to make a decision to say are we going to continue to slow role this or ignore it or give ukraine the capacity to be able to not only defeat the russians but push them out of ukraine in total and put it into crimea. david: christian wyden joins me now, great to see you, thank you for being here it is commander kirk right? >> commander kirk is calling for world war iii, i worry that this

talk is actually discouraging the ukrainians from entering serious negotiations with the russians, ukraine by itself is not only going to defend or resist the russian army to turn the tide to push them out of don boss in the land bridge that they have in the north of the sea with the exception of one small factory and mariupol. enjoy maritime invasion of crimea, that would take all of nato's power realistically would invite russia to use nuclear weapons against cities like lviv that are the center of nato's provisions of weapons too ukraine. i don't think it's realistic and i don't think it's great advice if you're concerned about u.s. interest. david: at the same time we did see a hit and the russians are saying it didn't happen it was a fire but the major cruiser that they had was the star of their fleet, that was a good hit in fairness too the commander he was not necessarily saying nato troops he was talking about

supplying them with all the weapons that they need to continue strikes like that one. >> and the attack in the russian at the bottom of the black sea. what is very impressive but use the drone to distract the russians into homemade cruise missiles to destroy chip reportedly. when i go back to the operation during the reagan administration to arm the afghan who are fighting the soviets that was done through covid means we were careful to buy the ak-47s from the chinese it could be plausible that those weapons were coming from the united states and picked up off the battlefield this is so averted in-your-face that we are essentially placing ourselves at war with russia and we face serious threats from china and iran and we have to ask ourselves is this the right war with the right enemy at the right time or the opposite of all those things and if we should provide arms and do so from a defensive point of view

in these two countries urge a peace deal, i think it ends with an unpalatable agreement where both sides have to give up on some of their dreams. david: you talk about in their face, your scene from the beginning of this the invasion of ukraine was the most in-your-face attack on european borders that we seen since world war ii. >> it was europe should be at the forefront, europe has a 21 trillion-dollar economy the same size as ours, 400 million people that is more than we have, they should be the ones, germany, france, central europe, there should be the ones that are doing this, this is not 1945 which what would become nato is a complete basket case and depending on the united states same as world war ii and world war i. europe should be at the forefront, when it comes to confront the chinese and deter war so that never happened,

europe might wish us a few good words but they will not do any fighting or put real force in the pacific. i just worry again it could blossom into a very large war again and let europe off the hook for paying for its own defense is disappointing. david: you mentioned afghanistan, just to finish out with an illusion about the body bags coming home to russia that had a lot to do with their withdrawal from afghanistan from february 15 of 1989 you think i know there's a propaganda effort by putin in russia to prevent any news of what is really going on in ukraine from reaching the russian people but eventually word gets out and eventually the words of mothers and brothers and friends and so forth of those who were killed get out and we already apparently seen as many russians killed in ukraine as were killed in the entire afghanistan operation. what do you think the chances of all of that coming back to unseat putin r?

>> is very hard to tell putin is so entrenched in been in power for so long we've been sanctioning all these oligarchs they were important earlier in his tenure but there isn't a whole lot of competition you're absolutely right word gets around and so much is riding on this pending offensive where the russians are going to break out from donbas and trying to rely on their strong point which are brutality, armor as in tanks, artillery through supported unified effort rather than the disparate one from the north and east and the south that they did at the beginning, putin knows a lot and his own neck is riding on this coming offensive. david: christian wyden, good to see you, wall street reacted to the very latest elon musk tweets including the tweet salaries of twitter board members would go down to 0 if he takes over, we will have more after the break i love this guy.

we gotta tell people that liberty mutual customizes car insurance so you only pay for what you need, and we gotta do it fast. [limu emu squawks] woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

david: a lot of nonsense about what elon musk takeover of twitter would look like, this is probably exhibit a, this is from the washington post today, elon musk want of free-speech utopia. gasper bidart tells us about this. the first amendment is a utopia what do you make of this incredible article. >> i think the author, i did not read the article i read the headline. david: i reading from stem to stern, that's all you gotta do. >> if you noted that about the constitution which they don't teach kids in school about, it's anything but utopia, it was checks and balances, free-speech to put essentially government

and the crowds, you had free-speech, that is essentially what the constitution and the first amendment is all about. david: is also look on bob, she quotes all these people from silicon valley with the same idea. we've been doing it until limited for two to 50 years let me quote one more person. this is from katie hardback, the former facebook public policy director, what elon musk fails to recognize, they truly of free-speech ed moderation. as the censorship and anti-what bullying is moderation. >> it's one thing to say we don't want hate speech with people threatening to kill each other, i get that if that's what she means by moderation. what these leftists believe making sure conservators still

have a seat at the table were libertarians don't have a seat at the table i remember fox news 90% was pretty far left conservative network, it was a conservative thinker on the network and the primetime people especially. there's a lot sku can see it in the coverage of most of the chair but i will tell this, the wall street is pretty interesting when you talk to senior executives at private equity firms, major banks, it was smart for twitter to bring in j.p. morgan goldman they brought on the two best and biggest common to most successful of the big three of morgan stanley, jp and goldman, two of those, elon has his advisors at morgan stanley, that

the smart move, the poison pillar is interesting only anti-shareholder, everybody knows it. here's where it gets interesting and everybody will tell you elon musk wants the city put up the money the check is real, not just a few days, it is real money they're gonna have to sell to him and there's nothing twitter employees can do, there's nothing all the woke journalist can do about it, he can take it private, you don't have to listen to me or my sources on wall street, listen to jack dorsey in the tweets that he put out some were cryptic but he said this we've been trying to sell the since 2013 the board has been dysfunctional ever since, the company look at the balance sheet of the company and the financials not making money doesn't have a lot of cash flow that is high debt level with how

much revenue it has this is a company in need of a change that probably needs to be in private investors will not get a good deal it was up $23 a share last summer but that's when the fed was printing money hand over foot and twitter will face headwinds. david: if he puts the money there you think it is? big tech is not going to buy because they can't disney, salesperson lester coming back again it's not a great deal for private equity that doesn't mean they will participate and will do a senior round of debt that something we might do provide the debt at a senior level private equity might participate on elon side this is the best

deal investors are going to get in a few tenders to them he is hinting about a tender and poor 20. he loves that number is a pot number. it is monday i'll be flying to miami for a much-needed vacation that day that could be interesting. david: i love this terrific reporting you been doing a great job i appreciate it thank you small business owners boiling over a congressional proposal that will clawback money allocated for small business and buy more covid drugs and test chief communications officer elaine parker joins me now, great to see you, thank you for being here climb back money for small businesses was already allocated for small business in order to pay more money too the farm companies having based

received enough during the covid crisis. >> this shows how utterly clueless about the administration is when it comes to small business to even consider taking funds from her small business shows how out of touch and how they don't understand small businesses at all the continuation on the work on small business why don't they clawback 86 billion that they sent to blue states to bail out the public pension funds instead of taking from small businesses. david: in new york we have a crime spree that $6 billion of covid funding to the new york city transportation department, the mta and we just had a terrible shooting incident in the subway and the cameras did

not work where is the $6 billion go? >> it is amazing to have that funding pulled from our small businesses when according to our small business iq monthly poll shows only 13% of small businesses have even recovered and 16% of them feel like they will never recover, i think there is enough reckless spending around washington, d.c. they can find other sources other than pulling it from our small businesses. small business relief is one of the few things the congress got right during the pandemic. if you think about the success under the trump administration it provided a lifeline too five and a half million small businesses, 50 million jobs were saved this is ridiculous that small business will get the short end of the stick. david: all that you do standing up for business, small business does not have the political pull that the unions have and whether

it's a teacher's union or the local city's union or whatever that is really the problem the political pull. >> it is but there is 30 million small businesses in this country they employ 60 million people in together it is a huge industry in itself, we need to support our small businesses this administration needs to learn to prioritize small business, the backbone of this economy and they create two thirds of all new jobs. david: they claim to speak for the little guy and gal in the business community but clearly they're not doing so, thank you for being here we appreciate it. coming up after weeks of being shut down automakers are preparing to reopen shanghai plans. more on that will be continued. . jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle,

and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank.

we hit the bike trails every weekend wh shinges doesn't care., i grow all my own vegetables shingles doesn't care. we've still got the best moves you've ever seen good for you, but shingles doesn't care. because 1 in 3 people will get shingles, you need protection. but, no matter how healthy you feel, your immune system declines as you age increasing your risk for getting shingles.

so, what can protect you? shingrix protects. you can protect yourself from shingles with a vaccine proven to be over 90% effective. shingrix is a vaccine used to prevent shingles in adults 50 years and older. shingrix does not protect everyone and is not for those with severe allergic reactions to its ingredients or to a previous dose. an increased risk of guillain-barré syndrome was observed after getting shingrix. fainting can also happen. the most common side effects are pain, redness, and swelling at the injection site, muscle pain, tiredness, headache, shivering, fever, and upset stomach. ask your pharmacist or doctor about shingrix. shingles doesn't care. but you should. at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect.

david: some automakers are preparing to resume production at shanghai following a three week shutdown at covid lockdowns. grady trimble has all the details. >> tesla is one of them knew is involving elon musk has nothing to do with twitter that shanghai giga factory that tesla recently opened was supposed to restart production today, that has been delayed once again, the target date is tomorrow, the holdup is because logistical issues with the supplier, today the electric automaker moved employees back into the factory after three week shutdown and the reopening plan is pretty extreme those employees moving in sound like

they will be staying there for a while essentially living in the factory workers will get a sleeping bag and mattress because they will have to sleep and eat there according to reports general motors used a similar strategies to keep its plans open too the lockdown, ines largest automaker which is a joint venture with volkswagen looking to reopen its factories this week the backdrop too all of this the draconian measures put in place to try to control the spread of coronavirus, especially in shanghai the plan includes lockdowns in a new round of daily testing for people who live in the city. new economic data out today shows the cost of ines 0 covid policy retail sales followed by 3.5% in march, the lockdowns are expanding to other regions so the damage to ines economy could be even greater going forward. i don't think it's a good by any stretch, all you have to do is go to twitter and go to all sorts of stuff, go to # china uc was going on.

>> happy to live here. >> happy to live here good to see you, good to see you in new york last week, china dan joseph is here with his reaction. i don't see how china can get back to regular operations with current conditions, the lockdowns are not over and some places they are just beginning again. >> exactly, there are somebody factors that play many were just mentioned in the news brief. you have the weakness in the economy and even if you do where is the demand going to be, imports have fallen in china and retail sales, housing sales, you got the lockdown expanding to other areas which only shutdown suppliers it impacts roofs and delivery and it's hard to say where is the pandemic going to go, we get a get march cases from china if that happens do they lockdown even further, the one thing when i have is

certainty. >> they have this stupid totalitarian idea that it can be politics over nature that you can have 0 covid policy, we know that's impossible, they haven't given enough vaccines, they don't have enough natural immunity because the horrible totalitarian lockdowns which by the way speaking out of the lockdowns forbes magazine came out with a terrific and horrific piece but very well done called ines government implosion they say currently half of ines population is lockdown almost 90% of the popular cities in most of the coastal highways are closed, is that still true? >> that's what the reports are indicating. look at covid broadly, nobody had a good playbook nobody really understood china that

heavy on zero-tolerance now it looks like a heavy price to pay, meanwhile all the little things like vaccines and how do you live with the disease, they haven't figured out at all, they backed themselves into a corner and a very difficult position they bet a lot of the governments proceeds with its own people and globally on how they handle covid now it turns out that might not of been a very good idea in the first place. the political consequences for them are huge. david: stalin believed he could use science and twisted in a political way to suit his political goals and get the dube scientist, when this thing began they began to arrest and kill scientist that went against what they were saying what they were seen with their own eyes those who disagree with the government were sent out to pasture, you see the horrible horrific things if you go to # china on twitter

you will see these videos, i cannot describe them but you see children separated from their families, people jumping out of buildings to their death, there have been massive amounts of suicide, all kinds of things going on it just shows how awful government control there was a time when politicians here in this country were applauding the chinese lockdown efforts, god help us if anything like that comes here. >> into put it into more terms symbolically important people in shanghai are having trouble getting food that the prosperous city, here's the problem may be the lockdown is a good idea at some point early on but if that's all you're going to do and if you look at what china is doing in this lockdown there is no new ones once again put them in buses and the problem is we don't know at this point you

have to keep doing this over the next 12 month, 24 months, three years what is the economic cost going to be in for china, the government it is going to turn in the populace mine instead of being something they are proud of look at how we handle covid look at how we screwed this up too the rest of the world they have a big bet on this in the doubling down on the extra forceful lockdown it doesn't look like a good idea. >> dan joseph thank you so much, we are breaking news related to all of this this is just in a federal judge in florida has overturned the national mask mandate covering airplanes in public transportation is exceeded the authority of the u.s. health officials, this decision also said the centers for disease control and prevention failed to justify in its decision it did not follow proper rulemaking, it was extended by joe biden's administration until may 3 but again you cannot afford the law

in this country, thank god. a new tax proposal in massachusetts raising alarms on how it will impact the federal deficit. ♪ i'm mark and i live in vero beach, florida. my wife and i have three children. ruthann and i like to hike. we eat healthy. we exercise. i noticed i wasn't as sharp as i used to be. my wife introduced me to prevagen and so i said "yeah, i'll try it out." i noticed that i felt sharper, i felt like i was able to respond to things quicker. and i thought, yeah, it works for me. prevagen. healthier brain. better life.

david: all eyes on tax day today, proposed tax change in massachusetts that would impose a 4% surtax on annual taxable income above $1 million that would start at 2023. let's get the read from tax foundation president, great to see you again, there was a time in the old days that there was some sensible people in massachusetts, believe it or not. they called it tax the juices and they got tax reform in their but it looks like they're going way in the other direction, these surcharges never worked and they drives capital out of the state. as you know the first role of tax laws, if you tax something you get less of it. that is true for smokers and pollution and millionaires. when states tried to tax millionaires at a number of choices they could move as thousands of people are doing from new york to florida or california to texas or they can change the composition of their

income in order to reduce their tax liability and their taxable income. that's what a lot of people will do. as a result the states don't generate as much revenue as they think they will. i also have an impact on the federal treasury as well. david: we were talking earlier in this broadcast about incentives and how democrats don't get the idea and the concept of incentives and more importance disincentives, if you want to drive capital away you have these outrageous extra charges for success. >> these are success taxes, there has been a war on success in the united states for the last couple of years. whether it's taxing wealth or other types of incomes, they are after success and before elizabeth warren's committee last year i mentioned when you tax wealth like this, people

don't have to divest that stuff in order to pay tax and investors committed by of those assets and you change the composition of u.s. ownership for foreign ownership and it puts out wealth out of the hands of the reach of the wealth tax, there's a lot of defeating purposes and unintended consequences, a lot of these politicians simply don't understand. david: how did liz warren respond to your explanation. >> she looked at me like i had something on my head she was not happy. >> i'm sure you mentioned to her it's been more than a dozen places particularly in europe and almost all of them have gotten rid of it because it did not work it led to getting less revenue as a result of people leaving or under reporting their income. >> that's exactly what happened in europe where people can move freely across country borders to

avoid these types of taxes you see that happen a lot, that's why the number of countries that have the wealth taxes has shrunk considerably over the last two decades and only a handful do now. you have to remember those taxes in europe are very, very small relative to what elizabeth warren is proposing to increase taxes on wealth. i don't mean to sandbag you but i want to throw something at you which is the idea, we now see joe biden 2021 return, he's always going on how the rich are not paying their fair share. i pay 37% federal tax, 37% of my income, he paid 24.6% and federal taxes. i paid 50% more than that rich guy did. who is he to point fingers at people not paying their fair

share when he's not paying his fair share according to the tax standards. >> he lives in a glass house shouldn't throw stones, you need more deductions, more loopholes. david: that is really the point we have to end all loopholes and get a basic flat tax quickly. >> i wish it were that simple, we do need tax simplification badly one of the reasons the irs is melting down because congress made the tax code so complicated and force the irs to be a provider of benefits in many cases welfare benefits and other social benefits. david: good to see you, we'll be right back. ...helping us all move forward financially. pnc bank: see how we can make a difference for you.

. . better hearing leads to a better life. and that better life... ...starts at miracle-ear. it all begins with the most innovative technology... ...like the new miracle-earmini™. available exclusively at miracle-ear. so small, no one will see it. but you'll notice the difference. and now, miracle-ear is offering a 30-day risk-free trial. you can experience better hearing with no obligation. call 1-800-miracle right now and experience a better life.

viit h b ro yro backo tnt gree grn.ere w r f r most of ohe thet two hourtwo ade mtack intohehen.n. havnownrl wase com comom it, it,t,rles. i y s goosdoo to to get get ky much, mucuc my frienen david: y got it. arles:arrleses payne..thisth "m" marketma is r pre p pm f l a stagflation. david: inflation, fewer profits from everyone. it sounds like lyrics one of those 1960s protests songs. it is tax day. wait until you hear the tweet h sweet deal president biden got. musk twitter saga is going on. was the