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tv   Varney Company  FOX Business  March 29, 2023 10:00am-11:01am EDT

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stuart: nothing like a little cardi be. 10:00 eastern. to your money. dow industrials up 250 points, nasdaq up 162, 1.3% for the nasdaq, 3 quarters of 1%, over 1% for the s&p. i college a solid rally, big tech up across the board, amazon 2. 5%. microsoft up $4, apple $2, one dollar and 59 since, meta and alphabet bringing up the rear. the tenure treasury yield moving higher, 3.59%. bitcoin last time we checked about 28,000, still there, 28,400.
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10:01 eastern time, the latest read on pending home sales. >> surprise increase of 8. 6%, the level is 83.2. the highest since august. it is forward-looking for how the housing market would do. stuart: does it give you a number on how many pending home sales there are on an annual basis? lauren: i don't believe it does. stuart: pending home sales up. now this. when you have severe problems you need honesty in government. you want to tackle a problem be honest about it. honesty is lacking in this administration. we have maximum political spin which sometimes borders on a lie. tuesday the man in charge of the border alejandra mayorkas was caught in a lie, asked
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about the risk parents many illegals whereas they are strewn across the board by the cartels he said i don't know what they are. there is the lie. fox has showed piles of these for literally years, used by the cartels to keep track of migrants to make sure they pay upon their american income. that is indentured servitude, indentured labor. mayorkas says he doesn't know what the wristbands are. president biden is honing his skills in extreme spin, a form of dishonesty, quote, m80 house republicans would cut funding for border security and allow nearly 900 pounds of fentanyl into our country. 900 pounds. where did that number come from? it isn't -- he doesn't mention fentanyl often but when he does he blames republicans for the problem he obviously created himself. when does been become a lie? we saw something similar in the
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aftermath of the nashville shootings, karine john pearson, quote, how many more children will be murdered before the republicans pass and assault weapons ban, failing to note the democrats controlled the house, senate and white house for two years and she fails to mention the mental health of the shooter or the person's transgender status, just blaming republicans. this administration must think we are stupid but we are not, spin and lies don't -- it turns people off. honesty in this government is sadly lacking. second hour of varney just getting started. ♪ i will calm down. ben domenech joins me. are people getting fed up with this endless spin? >> yes they are. the news of the washington
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community made by morning this morning, i'm looking forward to that. the mayorkas comment in particular is insulting, we know what these wristbands are at how they are used. i would ask what he thinks they are? let migrants skip the lines at disney world or something? this is an example how the cartels are very careful, very creative, very good at what they do and make a lot of money doing it and tracking these people using these wristbands the way they do is one example of how sophisticated they are in dealing with this problem than this administration is under mayorkas and his collection of cabinet figures who are one long list of one disappointment due to inability to do their job, this type of spin does nothing in terms of encouraging people who are working hard on the border, understaffed, overwhelmed by the challenge they are facing and trying to do a good job of
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protecting the southern border, makes you feel awful to hear this language. stuart: it is appalling. next case. joe rogan is blasting the mainstream media, please watch this, role it. >> the media has lost its hold over the narrative. the media conveniently leaves out anything it doesn't want front and center. all it is is january 6th, january 6th, did you see what they did, january 6th, trump is coming back. the guy who was the president right now can't form a sentence, he makes up words and stumbles through things and no one says a thing about it. stuart: it is entertaining but he said the media lost its hold on the narrative. has it? >> i think it has and that is one of the reasons you see this
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frustration on the part of a lot of old legacy institutions like the new york times and the washington post and their inability to control the narrative the way they would like that, you saw that in the trump years with the russiangate conspiracy fell apart in front of them and the reason people are turning to outlets like sub a stack and turning off channels like cnn is when they get this narrative pushed on them over and over again and it turns out not to be true they look for other sources, other people who might have the right perspective on these things. no accident that a story is dominant in terms of the current narrative that has come out of the twitter files acting as individual truth pursuing journalists, not people who are part of these massive entities that legacy institutions that no longer have control over peoples minds over the narrative that took place. stuart: so true, thank you, see
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you again soon. next, elana omar weighing in on possible ban on tiktok, is she for or against? lauren: against a ban, wants tiktok to stay, she wants aoc and jamal bowman to single out tiktok. >> what is proposed in congress right now is censorship, it is against the first amendment and will disenfranchise people in this country, to gin up rhetoric to ban one platform that is being utilized right now by 25 million americans. the problem is there sweeping by present agreement to ban it including the democratic caucus chair pete aguilar who says a ban is on the table.
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we look forward to steps ahead but i don't think the doors closed. then he was talking about this generational gap between squad members like aoc and jamaal bowman who say don't ban it, but they are in their 40s, what kind of generational gap are we talking about? same age for the most part. that was not a good reason to explain their differences. stuart: i think there's a political element as well. if democrats ban tiktok someone will vote against the democrats. they could lose the had vote. the interior was secretary was -- pressed on biden's climate agenda and its reliance on china. >> the anti-mining policies strengthen china.
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this is the exchange and a budget hearing yesterday. >> and we had tons of environmental protections. china is -- tvs and renewables are dependent on these minerals and now you're telling me that you banding critical mineral mining in the united states doesn't deepen our dependence on china? >> we are approving lines. lauren: the mine the congressman was talking about was one in minnesota and it has 88% of the cobalt reserves in the united states of america. what do you need cobalt for? av batteries. china, they mine half of them, refine 85% of them and we are
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dependent on them, we turn a blind eye to the national security concerns, human rights abusees, china is putting the phone in our pocket, the shoes on our feet et cetera. former president barack obama says this is donald trump's fault speaking at an event in australia. with my successor, trump, coming in, he saw an opportunity because the us president didn't seem to care about a rules-based international system, china's attitude, we can take advantage of a vacuum internationally on a lot of these issues. stuart: trump's fault. stuart: everything is trump's fault. back to the markets, the rally holds. 40, 50 minutes into the trading session, the dow up 200, nasdaq up 150.
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i know you are predicting trouble with municipal bonds. states like new york, illinois, california could get into serious deficit situations. do you think the muni bonds of these states would default? >> i hope none of this stuff happens. what i'm endeavoring to look at is something objectively. we are in the earnings of a ballgame, we have strong migration over the last three years, many moved from new york, new jersey, illinois, these are high income tax states, if they lose these residents, in new york alone, 70,000 people in 2020, $34 billion of tax revenue disappeared?
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have they been making cutbacks in anticipation of less revenue, looking at more money, and covid 19, has obviously seen this work from home revelation that is lingering in our economy. look at municipal bonds that are backed up by mass transit, commercial real estate, general city obligations, those are having challenges as less people are showing up to the city. april 15th will be an interesting revelation, since they have pension commitments, finding out how much they have coming in, who has moved prior to these interest rates. stuart: that is fascinating and thanks for the forward-looking. we have been warned. thanks, sorry it is short but we will be back later. lauren is looking at the
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movers. until, $30 a share. lauren: this is because of the micron numbers, the earnings report did suggest the memory chip market might have bottomed so they can see the upside. stuart: how about syntax, they are uniform people. lauren: a sign that small businesses are resilient and demand is strong, they increased expectations, 4-port -- a 4% rate. stuart: nothing to do with paychex, this is human resources outsourcing. lauren: they are involved with people who have something to do with paychex. another sign that small businesses are resilient, higher third-quarter, stocks up 12%. and these are positive signs.
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in the wake of this. stuart: thank you very much. fisher investments moving their headquarters out of washington state. can fisher doesn't want a 7% capital gains tax, the beginning of business. transit agencies in seattle putting monitors on buses and trains to study how fentanyl smoke affect the air quality onboard. health officials want proof that there is no risk. no real risk from secondhand fentanyl. that is next. the plan we created can withstand uncertainty. lately everybody has opinions about the economy, but i count on personal financial advice. my ameriprise advisor understands the markets and me. she knows my goals and can help me reach them with confidence. the markets may fluctuate but you're still on track.
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>> transit agencies in seattle, looking to study affect air quality on public transportation. is there an indication smoke from fentanyl is dangerous? >> depends who you ask. researchers putting those monitors, to collect air and surface samples. and and fentanyl smoke is chronically ill. one thousand 654 reports of drug use on the system in seattle. 52 operators reported being exposed to smoke from drugs, that there is no real risk of exposure to secondhand opioid
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smoke, they call that assessment hogwash and say the research will prove otherwise. stuart: washington state supreme court upheld a 7% capital gains tax in 2021. the capital gains have $250,000. ceo ken fisher on this program as a guest is moving his company headquarters from washington state, going to texas. jason rantz with us, is this beginning in washington state? >> probably is, not just business but wealthy washingtonians. this ruling by the state supreme court is laughably ridiculous and they don't hide it. under washington state law, income tax is unconstitutional, property tax is unconstitutional in this context.
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what is weird is the irs and 49 other states consider capital gains tax and income tax, in their decision the reason they move in this direction, the upside down tax system burdens disproportionately the community and we have too wealthy white people. they did not rule on the law, it reads like a press release coming from the democrat party and as he pointed out in his statement, not just to come. washington state legislature talking about wealth tax for the last year and a half and that's likely what they will do next. stuart: here's one for you, crews clear out homeless encampments in some seattle neighborhoods,
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>> we have shelter space available, most of the folks who are homeless just refused to accept it and then go on to another encampment, policies particularly in the seattle area, if they don't accept them, to go where they want they set up camp for the next several months until that gets cleared to. there was an incident yesterday, the homeless in camden they find a dead body that was almost fully decomposed. this tells you how dire the situation is and lawmakers refused to get serious about this, to guarantee these folks in a studio apartment somewhere. stuart: how much of seattle is occupied by the homeless? is it a small group of neighborhoods or is it more broadly spread out? >> sometimes you have to look
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for it, under bridges, the sides of freeways, the part of neighborhoods completely overrun by homeless, the issue has gotten visibly better than the downtown area. they are moving into another position, not going into housing or shelter space, shuffling people around. stuart: i can see that. good stuff, thanks very much. the fda just approved narcand for over-the-counter sales, the nasal spray that reduces drug overdoses. the move will make it easily available and reduce drug fatalities. over-the-counter narcan could be sold in supermarkets, even online retailers, by late summer. it is unclear what the charge, the cost, will be. the senate grills dhs secretary
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mayorkas on the handling of the southern border. watch this. >> our southern border is not secure, is it? >> we are so focused on the security of the southern border. we are doing so much -- >> not succeeding. stuart: senator kennedy is dead right, more of that coming up. 40 migrants have been killed in a detention facility in mexico near the border. what the impact? mcadams has the story from the border next. ♪ your best defense against erosion and cavities
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stuart: the rally holds into the trading session. the nasdaq is up 1.1%, modest rally. lauren is back with us. microsoft up $4. lauren: they are planning one billion-dollar data center is a controversial site in wisconsin. it means is that they are coming in with another big center they can develop. reading the report.
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stuart: moving stock up $4. i have no idea. that look on your face. seagate shutting jobs. lauren: it is in addition to 3000 jobs, more job cuts and the stock is up 3%. stuart: you see, i remember ted from when he started seagate in iowa which was unusual for computers in those days. lauren: you are good with years. stuart: carnival, the cruise line. lauren: they have a nice game and they are going to $11 cost cutting, not saying job cuts in this situation but cutting costs in other ways saves money. beyond the upgrade and up crease in the price target. stuart: thanks very much.
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to change the subject, 40 migrants have been killed after a fire broke out at a detention facility in mexico. i believe this is about migrant desperation. alexis mcadams, how did this happen? >> reporter: these people have been waiting in that facility for quite some time and thought they would get the chance to get into the united states. they found out they would be deported so they set mattresses on fire which we will get to in a second. during the hearing we were talking about, alejandra mayorkas painted a different picture than we see every day at the southern border when dozens of migrants died in the massive fire. look at the new survey we got a short time ago, surveillance clips shows the moment a massive fire started in the migrant detention facility. we are told the migrant started their mattresses on fire because they found out they would get to hoard it. as flame spread guards ran out
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leaving those migrants locked up with no way to escape. on tuesday dozens of venezuelan migrants showed up trying to find their loved ones, didn't know what happened or who was alive or dead. the group demands answers after 40 people were killed in the fire and others injured, talking how these centers are too crowded and don't have basic resources like water. things are not slowing down in south texas. the drone team, in eagle pass, texas it has been busy lately. a few of the 14,000 migrants crossing the border in the 72 hours. >> just because the border is not secure is why we are finding bodies and having traffic through the branches. >> reporter: it's not just people coming across but a massive amount of drugs border patrol is finding in the past week, they found hundreds of
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pounds of cocaine, meth and fentanyl. stuart: hundreds of pounds. thank you very much. shake your head, it is amazing. senator ted cruz lashed out at alejandra mayorkas after he said he didn't know about the wristbands being used by the cartels at the border. >> what are these wristbands? >> i don't know what they are. >> you don't know what they are? mister secretary come you just testified that you're incompetent of your job, the drug cartels, every color corresponds to how many thousands of dollars they owe the cartels, you turn these cartels into multibillion-dollar criminal organizations and these are modern-day leg irons because these are children being sold in the -- into sex slavery and you don't know what they are asked that is astonishing. stuart: he doesn't even know what the wristbands are, that is a lie. the border patrol council, mayorkas didn't know about the wristbands, tell us about the
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wristbands, you know all about them. what are they for? >> secretary mayorkas's google search isn't working because it would have gotten him the answer. a lot of these drug cartels and human smuggling organizations use the wristbands to separate different people, where they are from, how much they paid, who has paid and who hasn't and a way to distant which which organizations crossed them. it is common knowledge, a lot of agents are aware of it, the reports are up there. it baffles me for the secretary of homeland security to say he has no idea what they are 4. stuart: this is not a minor point. this is about how the cartels control thousands of millions of people heading up north or extract money out of them, for mayorkas to say he doesn't know what those wristbands are, that is a flat out lie. don't know what you can do about it. >> he is the head of the agency.
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let's give him the benefit of the doubt and say he didn't know. if he didn't know, he has no business being the head of this agency. it is something everyone knows. stuart: another one for you. before my head explodes. 100 house democrats warned against restarting family detentions and migrant facilities, harmful for children and can cause psychological trauma. they want to let them walk right in. >> there is an alternative that will help. let's start deporting individuals faster, get immigration judges, asylum officers down there, not detained the. long as they are being detained, you send them back to their country, look and see which cases are true asylums and those that are not you send back but the alternative they want is always individual released in the country and the individuals that are coming
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across they like that alternative and go to different cities all over the united states not just on the southern border you will never hear from them again. that's ridiculous. stuart: are they building huge facilities to hold the migrant families? >> the facilities they have are there but they need to lean on ice and say when can we start sending people back? at the same time figure out the ones that have been released, what tracking mechanism has been used, where are they? where have they been? and look at the obama administration, the unaccompanied juveniles, they are full-fledged adults and no one knows where those individuals are, it is obvious the million that have come across during the biden administration they haven't tracked them correctly and no one knows where they are many years from now and that's the danger. stuart: thank you for being
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with us. appreciate it. come back soon. backlash unfolding on capitol hill after it was revealed an irs agent was sent to journalist matt taibbi's house while he was testifying before congress. grady trimble has the story next. ♪ ♪ and i remember kind of thinking like, "oh my gosh, i think we could be sisters." because i think we looked... yes. right. yeah. and i don't think at that time- i think you're the one to tell me
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stuart: markets rallying, not as great as it was an hour ago, thousand 170. the irs silent over reports they sent an agent of matt taibbi on the same day of his
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congressional testimony. grady troubling capitol hill. what are republicans saying about this? >> they are sounding the alarm about the house visit by the irs. >> testifying about the weaponization of your government against you on the day that they attempted to weapon eyes the government against him. >> do you think your colleagues on the other side of the aisle feel as strongly about this as you? >> no because the irs helps them grow big government and that's what the liberal left wants come more dependency, more control. >> reporter: republicans are concerned that this happened when the biden administration wants to grow the internal revenue service, the inflation reduction act provided 80 billion to hire 80,000 new irs employees over the next decade, this happened when matt taibbi was testifying about his twitter files alongside fellow
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journalists michael schillenburger. berger. >> we have questions whether the fbi is being weapon eyes against the american people, i don't think this is a time to reduce staff. we need to get to what is going on, that they were emboldened and empowered. >> reporter: the irs hasn't replied to repeated requests for comment but i did speak with a former irs attorney turned whistleblower and he tells me it is unusual the irs would make initial contact with the taxpayer by showing up to their house unannounced without an appointment. and his 30 years at the irs he had never heard of that happening. stuart: just a coincidence. everything will work out, don't worry about it. john durham expected to finish is reported to the trump ripples level russia probe soon. this investigation has been
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going on for years. ashley: the special counsel investigating the origins of the fbi's original trump russia probe since 2019, that would be four years coming up. you may remember an investigation that yield no evidence of criminal conspiracy and coordination between the trump campaign and russian officials during the 2016 presidential election but according to attorney general merrick garland, john durham should have his report completed relatively soon. what does that mean? durham has indicted three people including former clinton attorney michael sussman who was found not guilty. stuart: the trump grand jury is weighing charges against the former president, this is new york. any idea how the grand jury will vote? >> no, we do not but sources tell fox the jurors will not sit on the case this week.
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the grand jury expected to reconvene today, the panel wrapped up monday without voting. let's not forget they were canceled twice by manhattan da alvin bragg, investigating $130,000 payment made to stormy daniels by trump's former attorney michael cohen who the da says was repaid by the former president, the transaction is legal, expenses. donald trump maintains he did nothing wrong saying the payments were not a campaign violation but a simple private transaction. stuart: thanks very much. now this. if you live in new york state, you might have to pay more for streaming services like netflix and hulu. democrats want to slap on a new tax to fund the metropolitan transportation authority. new york never met a tax it didn't like. the ministration targeting air-conditioners as part of its green agenda.
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stuart: the dow jones industrial average is up one hundred took the 5 points, the nasdaq one hundred 12. the administration is adding air-conditioners to the list of appliances they insist go green. jeff flock with us, they claim this will save consumers money. have at it. jeff: so you must support it fully because i know number one on your list is saving money but pc richard and sons, a family-owned business, 600 appliance stores in the northeast of the us, they sell a lot of air-conditioners, these are the home units, window units or room air conditioners, pretty cheap right now. this is $1.79. the problem is the new
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regulations might cost more up front. in 2026, the government will increase efficiency, mandate that the bills, they say, your bill will be reduced by $100 billion collectively, take pressure off the grid when everyone is running their ac, and cut emissions. it will cost $82 million for the industry to comply. it could take all the new regulations for various appliances, the industry says it will collectively cost 2. $5 billion which will be passed along to consumers on everything from refrigerators to gas stoves to washing machines and air-conditioners and folks at the competitive enterprise institute say it is going to have little box for little bang. >> the standards of
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1-size-fits-all causing a real problem leading it to the consumer and there's plenty for those consumers who want efficient appliances, it should be left to the consumer rather than forced upon them. >> reporter: like it or not the government has a chance to talk now, $570 billion is what it will save, $100 a month or a year on these bills and fewer emissions as well. stuart: that is just fuzzy math. >> i think i'm done. stuart: that is fuzzy math and you know it. what we really object to is the government walking into my house and telling me what kind of stove i've got to have, what kind of air-conditioner, what kind of toilet, shower, everything else, get out of my property. my next guest -- >> the air-conditioner from your cold, dead fingers. stuart: it is not just that,
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get the government out of my house, it is a principal issue. my next guest does not approve of democrats pushed to ban gas powered stove and i hope everything else. the new york state senate minority leader, tough job, he joins me now. what are you going to do about this? gas stoves, toilets, god knows what else, what can you do? >> thank you for having me, to go on programs like yours to educate people and make them aware of this, it sounds, call. your last guest talking about this, democrats pushing a proposal to be where you want to them to be, in your kitchen, in your home telling you, can't have a gas fireplace, can't have a gas water heater or
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furnace, it will be all electric, utility rates, less energy reliability and do nothing for the environment, nothing. if you think we will stop the polar ice caps from melting and stop these storms because my mom can't use a gas stove anymore, you've lost me at that point. it will do nothing for the environment. this is about going after fossil fuel companies, trying to put them out of business, being where the government doesn't belong which is in your kitchen. stuart: here's another one for you. lawmakers in new york, democrats in new york proposal 4% tax on streaming services night let blood -- netflix and hulu, 50% surcharge on rideshare apps like uber, to fund the new york mta. new york never met a tax it didn't like. >> the democrats's tax
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everything everywhere all at once proposal they are pushing. it's really ridiculous. who is this going to affect. it will affect every new yorker, young people who don't have, this will be on top of their subscription fees. you could be watching the program in florida or another state but if your subscription is in new york and you are a resident you will be taxed on this. to fund the mta which let's be honest is one of the most poorly run, financially mismanaged, unaccountable transit authorities in the world and the reason they want to ride uber and left is they are afraid for their personal safety to ride the subways of the in ta because of democrats soft on crime policies. they have created this disaster at want and want to tax you and everyone else. stuart: they can do what they like.
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the democrats in both houses, thoroughly democrat, not much you can do about it. >> we have to go out here. i think most new yorkers, we have to make sure we educate people to let them know this is what your democratic legislators, state senators are doing and we saw this last election cycle, lee zeldin ran a good campaign, showed republicans how to compete in new york by talking issues that didn't matter to new yorkers. that is what we will do in the highlight, how radical democrats have become not just in new york, these policies coming nationally, you see chuck schumer, aoc talking about these policies. stuart: i am out of time.
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we have doctor ben carson, charles payne and nigel farage. this is interesting, goat snuggling exploits animals so it must be stopped. an example of a tiny minority of extremists imposing their will on the rest of us and winning. we are doing goat snuggling, "my take" next. ♪ ♪ or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence.
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