tom: right now to washington, we go to greg valliere of agf, really looking at the moment that is outhere. i want to go back to p research -- go back to peer research, where they came up with the liberal combination of 47% of the democratic party. i believe that means the majority of democrats are not liberals. how does president biden deal with that with a new animosity? greg: it is a really big story, tom. we saw over the weekend the fight on minimum wage. it is not going to be in this $1.9 trillion stimulus bill. i think a lot of moderate democrats don't like it. this is the first of many big fights that will pit the center against the left. tom: what is the six district difference in the house, and the push by progressive, by liberals to bring mr. bite into the left? -- mr. biden to the left? greg: there's not a lot of wiggle room, absolutely. talk of a big new tax hike, i guess elizabeth warren is out with something this morning, is not going to fly. the democrats in the house worry that they could lose the house in 2022 if they go too far to the left. lisa: let's talk about that

i think greg valliere really captured this in his note this morning.got democrats, and this much is my reporting, on the far are raising concerns on economics and on foreign policy as it relates to saudi arabia, even. there is a breakage point that has occurred in the democratic party, and the risk has grown more public, on the minimum wage issue. it is not to be underreported. when congresswoman elana omar -- congresswoman ilhan omar, the last time that happened was by republicans on a tax effort, this is a really serious rift bubbling over. the progressives are questioning the centrist democratic bona fides this morning in washington. tom: the democratic and republican centrists, are the centrists combined there for president biden? kevin: yes, they are. but does that outlast in future fights on infrastructure? i put that question to secretary buttigieg on friday. tom: on "sound on," i know you did. [laughter] kevin: he said that as it relates to infrastructure spending, they are going to need some of the centrist support in order to get infrastructu

bring in agf investments chief strategist greg valliere. d up on your name. one of the challenges the entrepreneurs will face, a lot of them as you well know are pass-through businesses. they take their profits as personal income. they will see the taxes on that personal income go up. so their expenses will increase at just at the moment where they're getting their feet back on the ground after the pandemic. that is going to hurt, no? >> if it happens, david. i'm not so sure it is going to happen. i talked to a lot of people on the hill who are beginning to think joe biden doesn't have the votes. david: wow. >> to get a big tax hike in this bill. maybe we raise corporate rates two or three points, individual rates by a point but i think a lot of the things they're talking about do not have the votes. david: well, actually you know, we're worried about it here in new york where we have a 12% tax, when you add the city and state together. that may go up on state taxes alone. but we saw a billboard in manhattan and times square, said, biden wan

we talked with greg valliere of agf investments after this came out, and he said the chances of thissing work basically 0%. that said, is there some iteration of this sort of wealth tax that you could see making it into the mainstream of the democratic party based on the clout that senator warren has and the inclinations of the other senators and congress members? kevin: exactly right. the nuances of this, i would agree with greg that is a very slim chance of passing in the short-term, but this is injected into democratic policy debate. as a result, when we are talking about things like infrastructure over the next six to nine months, talking about potential ways to pay for it, taxes comes to the forefront of that conversation. tom: what is so important here is to compare and contrast with jeremy corbyn in the united kingdom. people try to make that allusion here. do you see that linkage? jonathan: corbyn who? totally failed. senator warren is polarizing. you want to be aggressive in a senate with a 50-50 split? how does that work? kevin: exactly. to that point, her and senator sande

why don't we bring greg valliere into this.inute. 21 states in america have a rising covid caseload. the open states them off florida texas and others it's not rising and it seems to me too be a strong indicator that we should be reopening and get the economy going that way. what say you a mac i would say let's see florida in about a week. let's see how the numbers look there after what we have seen the last few days. the numbers could be higher, but yeah, there's a growing consensus it's time to reopen everything up. stuart: at what about the big stimulus package, $3 trillion, what impact will that be on the market? >> based on-- it doesn't have the votes. i don't think there's more than a handful of republicans who would even consider it and i do think from 21 to 28 is a negative for businesses and i think other tax hikes had virtually no support. 3 trillion is way too much money and i would argue they may not have enough votes among moderate democrats like joe mansion of west virginia, so when i look at it, i think maybe the