patricia powell is the founder and ceo of the powell financial group.at, we are glad to have you on this busy saturday afternoon. people want to know what to do and i think, first of all, you're saying, as usual, but in particularly now, cash is king. right? >> absolutely. everybody needs a cash reserve and i'm talking about seriously about cash, cash dollars in your wallet, not just maybe money in the bank, but you also want money in the bank and not just in the money market fund. none of us know if they default on the -- if they choose to default whether there is going to be a credit crunch, whether you might have some trouble accessing some of your credit, and you might even have some trouble with your money market funds. so none of us know. make sure you have cash. >> arthel: how much are you talking about? >> for most of us, if we had $1,000 in bills, in our drawer, we would be fine. i don't expect that you're going to need them, but you know what? if you need them, it would be nice to have. >> arthel: indeed. you also say the placement of your inv

patricia powell from powell financial group joins us live on set. good to see you. >> thanks for having me. >> arthel: we were chatting in the commercial and you sort of gave me headache because you said -- not you, but the information is, guess what? higher taxes are already here. >> absolutely. this is really serious to begin with. we already have taxes, higher tacks coming down the pike. it's the law of the land. it's not what they have to vote on this week or next week. it's the law of the land. we have higher tacks in what they call the bush tax cuts expiring and that will happen in a year and a half. what that means is that if you're in the top tax bracket, your taxes will go up by 13%. but if you're in the lowest tax bracket -- these are the bottom taxpayers, your tax bracket will go up by 50% from a 10% tax bracket to a 15% tack bracket. why? because the bush tax cuts gave preference to people at the bottom of the tax rolls. so the perversity here is you're going to hurt the people you keep talking about trying to help. >> arthel: that's wha