ashley: that's pretty good i was going to go with six, that's reveal the answer, so they say, you are right, the answer is for, kentucky, massachusetts, pennsylvania and virginia, pennsylvania and kentucky are the ones that i missed the commonwealth and if you're wondering what makes them different than other states, absolutely nothing purely semantics, commonwealth sounds very old england but there you go for out of the 50 states we're going to stay with commonwealth, thank you for your help today, you did about 10000 stories, yes indeed thank you so much, quick look at the markets moving modestly higher pretty much where we started the day, that's it for "varney & company". "coast to coast" begins now. >> thank you ashley coming up this hour wall street watching the fed like a hawk. the federal reserve big week meet this week as interest rates

keep going up. also going up, way up the national debt are economic gurus are here to dig into the exploding debt and surging interest rates which are so intertwined, begin to get into all that. i'm david asman and for neil cavuto and you are watching cavuto "coast to coast" ♪ ♪. david: our top story today, markets rising slightly to kick off a busy week investors are eyeing both wednesday's federal reserve decision on interest rates and friday the read on the job market, let's get to read from omb chief economist van skin an option chief market strategist alan, great to see you. it is been too long. vance i want to go to you first, while important the fed decision to investors, a lot of the interest rate increases are coming from the treasury visibly trying to sell debt in order to

pay for the deficit spending. isn't that something that we should keep an eye on as least as important the as we do on the fed? >> it is a pleasure to be with you, you are exactly right, spending way too much in congress out of d.c. and that's insert entry increase in supply of bonds and pushing the prices down interest rates up we see interest rates continue to soar, the tenure rate 4.2%, where people moving to, then moving to goal it continues to go up, what we see is this slower economy, higher inflation, stagflation area. and we're going to continue to see a lot of debt being put in the marketplace so higher interest rate will be the result likely lower stock prices going in the future. david: another result of all of this is the amazing increase in debt payments, huge debt payments as a result of having to sell bonds at a higher interest rate that means you spend more, we are now spending more on payments for our debt

then we are on all of the defense spending, defense spending was 822 billion, it is more on our debt spending on fulfilling our agreement to pay off the interest rate. something has got to be done. our investors concerned about this at all? >> the market is telling us know, were 2% away from the all-time top we bounced 47% to 2022 low. it's by the debt market for a year end a half straight, eventually those fundamental facts can have an impact on the market but looking at where we are were here for longer not hire for longer we are here for longer but we're going to cut rates at 30% chance of july or 6% in september or 8% december, rate cuts are coming. david: i want to stick with you for a second. how much of market enthusiasm has to do with a.i., we saw the great stats coming in from microsoft and google last week

is a.i. the key, do investors think were right on the verge of technological revolution in the 80s? >> it is very possible but you have the cycles where the hot sector runs the market for a while and often times they peter daut. if you look at the big boys and google and microsoft, how much money there make it appear profit, $20 billion per quarter, corporations are doing extremely well to get back with the rates. i'm an old grizzled trader i'm going to throw something out here, 225 years since the washington administration. the average r weight has been right here, for the half% where the average rate we got spoiled with free money now were at the average. it has not impacted the market yet, were in everything bulb market and prove otherwise, last week is a great example of the resiliency of the stock market and the opportunities that we have in stocks on the upside.

david: back to vance, well it's great for wall street is not great for main street. americans feel the pressure of the higher interest rates like they have it in the years be before. we cannot buy houses that we want to with mortgage rates over 7%, we cannot buy cars, were getting screwed in terms of how americans feel that's why they feel the economy is not doing well for them. what is going to change that? >> you are right we had the housing affordability crisis going on across the country with higher interest rates, higher home prices, summer coming down a little bit now. i don't think we'll get to see lower interest rates for a wh while, some were expecting early in the summer a few months ago, now later in the second half of this year, i think that will be the case but that won't help the housing market for a while. at the same time many people are saying, i don't want to leave my house, they have the locking effect that will keep supply of the market keeping housing prices higher than otherwise.

something to look at. david: another thing that i wonder about what's happening we had the deck closing in on $35 trillion, never been this high. attire that appointed world war ii but the dollar has come on pretty strong, there is the debt clock, the dollar is doing pretty well, stronger than other currencies, why is that. >> you have to say where you want your money to be. a lot of would rather be in the united states and the dollar compared to other currencies, this is a global competition with the exchange rates and that's what is telling us that we have a higher interest rate whereas some of the other countries are starting to say we're going to lower interest rates earlier and that's with the money starts to flow to the dollar, something else to look at moving into the future. david: finally, are you worried that the higher interest rate in the past higher interest rates have been trouble for nasdaq? for all the tech stocks, that doesn't seem to be happening now partly because the prophets coming in on a.i. and is not

because tech stocks are no longer concerned with rising interest rates. >> i think we have to focus on the word higher, we are higher than 0 were at the average we have been in 225 years, we have completely spoiled erie back to housing affordability, the major asset for every americans in their home 60% own a home the average home equity is $200,000. they made a lot of money that's why they do what is cell. david: young people can get into this market, young people are squeezed out they cannot afford the higher interest rates or the higher cost of the houses. >> i had to start small. >> the bottom line is a lot tougher now than it was a few years ago, gentleman that was a great discussion, thank you very much to both of you. the anti-israel protests rocking the nation, hundreds of students are arrested over the weekend as they got to stay in their cabins until their demands are met,

bryan llenas is at columbia with the very latest, what is going on there today. >> it looks like we could have a repeat of what we saw on ap april 18 with massive breasts, were not entirely sure no indication of the nypd is involved just yet, there is a standoff that could potentially happen this is what's happening at 2:00 p.m. deadline has been given to the columbia university students at the academy on campus to voluntarily leave the encampment or be suspended. that is from the university directly to members of the encampment that they were given a four-page sheet, there also told they have to check in with the university official as they leave and they must sign the document committee the following columbia university guidelines from here on out. this morning went on to say this, it's important for you to know that the university has a ready identified many students in the encampment if you do not identify yourself upon leaving

and sign the form now you will not be eligible to sign and complete the semester in good standing. if you do not leave by 2:00 p.m. you will be suspended pending further investigation. there is no physical mention, mention of physical removal as i should say or what is going to happen to them necessarily if they do not go other than the suspension. the university committed a few days ago that we would not call the nypd on campus because they said it would be counterproductive. i will say they said at that moment at this time, that was three days ago thanks have obviously changed, the justice morning they release a separate statement the set after five days of negotiations with the student protesters that they have come at an impasse and she said that we have regretfully ended the discussion without any agreement to dismantle the encampment. president mnuchin said unequivocally that columbia will not divest or cut its financial

ties with israel are companies that do business with israel, this is a core demand from the student protesters. the university said offered to make financial investments to gaza. the offer to be more transparent about his investments, in the end the student protesters refused to agree with anything with the university, now this morning they have a 2:00 p.m. deadline. were also look at other protests across the country. we have the view of yale as well as nyu where our cameras are both of the schools. were keeping an eye of those encampments and many across the country because they will get their cues no doubt, the university of the protesters as to how this is handled that columbia this afternoon once at 2:00 p.m. deadline comes and goes. today is the last day of classes at columbia, there is final exam starting on friday and commencement is on may 15 and the university president was very clear, commencement will

happen. that commencement is supposed to happen in the same space as where this encampment is, that is why we have that for today. we will see what happens to those who decide to say. david: i think a lot of colleges are you under look at university of southern california which cancel the graduation ceremony and parents are furious with that. that is a joy and appearance life after spending july savings with your kids, they don't want that repeated elsewhere. thank you so much for your reporting. we appreciate it. >> we will honor all our mortar. >> father father sons and daughters. david: this was the scene at the northeastern university over the weekend. protest apparently there are not just exclusive to students. an official from the university saying demonstration was infiltrated by professional organizers with no affiliation northeastern, florida republican congressman cory mills w calling

on congress to do more to investigate the college campus protest. listen. >> the school presidents need to be more active and vocal about the fact that they will not tolerate this type of anti-semitism and they will get control of the college campuses and i think it's time for congress to investigate where is the money and influence operation in the foreign entity that is behind many of these and is something that needs to be fiercely took another look at african. nebraska senator but republican dan fisher. is it time for federal action to find out where these funds are coming from? who is behind all the demonstrations when we see the anti-semitic attacks on jewish students. it's complete chaos on a lot of the college campuses. it's time for elected officials and university officials to step

up and take action. it was interesting to hear your previous reporter talk about columbia university and the steps that they have put in place that they want to see met by the students at 2:00 o'clock today. i hope the students meet those. this is not a time for negotiation with students. they have the right to protest, they have a right of free speech, but they certainly don't have the right violent speech, they don't have the right to occupy space that the university is trying to get ready for a college commencement. it is nice to see some steps start to happen here in safe spaces for all students to start to be there once again. >> now we have to consider, it is not just at northeastern university but the degree to which there may be outside influences.

i'm going to read what the northeastern administration says about what's been happening on the campus in everett similar reports from other campuses, what began as a student demonstration to days ago was imposter rated by professional organizers with no affiliation to northeastern. last night the verla anti-semitic slurs including kill the jews crossed the line, we cannot tolerate this kind of hate on our campus. i should mention some protesters say this is a false flag that it might be a pro-israeli group, frankly, we've been hearing it enough around the country, columbia as well that we have to be concerned about outside influences here. >> were very concerned, we know that this certainly appears to be a corrugated effort. it moves from campus to campus, i think the university is wise in making sure that students if they do leave the enclosure at columbia that they sign out we

need to know who is there and the university certainly has a right to know who is on the campus. they have an obligation to provide a safe learning environment for all of their students, safe space for all of their students. when we see certain universities starting to say we're going to have all of our on campus classrooms closed and you're going to have tele-learning take place in your canceling commencement, that is outrageous, it is ridiculous. and we need to step up and make sure that we get that safe environment back. david: particularly when other countries may have had suggestions that china, qatar or iran may be involved i hope the fbi isn't interested in this as they are investigating traditional catholics by the way. i want to switch to your home state of nebraska which is cleaning up after a really, really tough long weekend of

dealing with the storms, what is the very latest from the tornadoes and other storms? >> we had a huge system, a torn attic system moves through the state from lincoln to omaha and bennington, alcorn, blair nebraska, was one of the most powerful tornadoes to move across this country in the last 11 years. but nebraskans have a great spirit, we were out helping each other, neighbors helping neighbors, that is a nebraska way and we will continue to work with our governor and other elected officials, local officials to make sure that we get the communities in need what they have a need for, volunteers are making all the difference in these people who were hit by these storms, making all the difference in their lives and

helping them clean up and begin the recovery. >> our prayers to you. it is a very tough time and a lot of people have lost everything, thank you very much for being here. we appreciate it. tesla on a tear, have you seen this the stock of the day, what has it charged up. all the details coming up after this. ♪ (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts.

♪ i wanna hold you forever ♪ hey little bear bear. ♪ ♪ ♪ i'm gonna love you forever ♪ ♪ ♪ c'mon, bear. ♪ ♪ ♪ you don't...you don't have to worry... ♪ ♪ be by your side... i'll be there... ♪ ♪ with my arms wrapped around... ♪

to advance the future of golf, pga of america chose t-mobile for business. with a 5g powered innovation hub to analyze player performance and expand coaching tools. take your business further with america's largest 5g network. ♪(fun music)♪ mom, can i help? camping was fun, but it looks we brought the woods back with us. if you're a mom, then you really need weathertech for mother's day. it's the ultimate way to kid proof your vehicle. from laser-measured floorliners for the front and rear... to cargoliner...seat protector... and seat back protectors... we've got mom's covered. your turn. (hose spraying and laughter) find all these american made gifts, perfect for mother's day, at wt.com

(♪) (♪) (♪) (♪)

and they're all coming? (♪) those who are still with us, yes. grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly.

david: tesla stock surging after the committee passed a key hurdle to roll out self driving at least in china let's begin asset manager partner in wealth manager mario barroso. good to see you. has a long way to go to get back to 300. this is a very impressive jump, what is up with the stock, is it all about china? >> absolutely. thank you for having become a pleasure to be here. some will give tesla a speeding ticket this is stock is flying is up almost 30 points since the low over the last month of tesla where the stock was $138. it has a long way to go to get

back to 300 but we are clearing almost the 200-dollar mark, what happened this weekend was vital for the company. basically tesla had the chinese remove restrictions to have full self driving cars over there. they are working right now with the body do which is brilliant for elon musk, he is a very, very smart man and you never count him out. if there's one thing we should know on wall street you don't count out elon musk he introduced for the mapping of the cars and now have full self driving cars because prior to this weekend we had limited capabilities with tesla. driving cars, if you buy a tesla and you want autonomous feature in the chinese were preventing that and now with this deal the good hopefully have smooth roads ahead. david: self driving vehicles are at tough sell to americans because as you publicize accidents involving self driving vehicles. of course a couple of accidents when you add up all the millions

of ev's we have on the road, it probably doesn't amount to anything percentage wise but they make good publicity. i hate to use the phrase but if it bleeds it leads, gets a lot of press. i guess it's the same thing not happening in china, is it going to be a tougher sell here then over there. >> absolutely. if you look at the way the perspective of elon musk and tesla china versus the u.s. i think in china he is a little bit more revered, he has his footprint there, tesla is a little bit more appealing, there's going to be a few bumps in the road with any type of new technology but i think it's going to be a great proponent for tesla if you really think about it there to start selling self driving cars in the biggest market which is china right now. i think because of the news this weekend. it will be a proponent and i'm sure will get blimps along the way and forks in the road but lo

and behold i think it would be great for tesla, the market is reacting positively to it. another thing is going to create more demand for the car. it's like buying a phone and you cannot text, why would you want to buy the phone you have limited futures, now with tesla they can have the full autonomous features and i think it will create more demand which will be priced into the stock. >> even if you don't want to use it because you're nervous, i'm afraid we gotta leave it there, thank you very much. hefty amounts of foreign funding has u.s. farmers saying what about us. we get to read from national black farmers association president john boyd junior, right after this. ♪

an alternative to pills, voltaren is a clinically proven arthritis pain relief gel, which penetrates deep to target the source of pain with nonsteroidal anti-inflammatory medicine directly at the source. voltaren, the joy of movement. when you own a small business every second counts. 120 seconds to add the finishing touches. 900 seconds to arrange the displays. if you're short on time for marketing constant contact's powerful tools can help. you can automate email and sms messages so customers get the right message at the right time. save time marketing with constant contact.

because all it takes is 30 seconds to make someone's day. get started today at constantcontact.com. helping the small stand tall. it's odd how in an instant things can transform. slipping out of balance into freefall. i'm glad i found stability amidst it all. gold. standing the test of time. [music playing] tiffany: my daughter is mila. she is 19 months old. she is a little ray of sunshine. one of the happiest babies you'll probably ever meet. [giggles] children with down syndrome typically have a higher risk for developing acute myeloid leukemia, or just leukemia in general. and here we are. marlo thomas: st. jude children's research hospital works day after day to find cures and save the lives of children with cancer and other life-threatening diseases. tiffany: she was referred to st. jude at 11 months.

they knew what to do as soon as they got her diagnosis. they already had her treatment plan drawn out. and they were like, this is what we're going to do. this is how long it's going to take. this is how long in between. this place is like a family to us now. like, i can't say enough how grateful we are to be here. medical bills are always a big thing to everybody because everybody knows that anything medical is going to be expensive. we have received no bills since being at st. jude. we have paid for nothing. marlo thomas: thanks to generous donors like you, families never receive a bill from st. jude for treatment, travel, housing, or food so they can focus on helping their child live. for just $19 a month, you'll help us continue the lifesaving research and treatment that these kids need now and in the future. join with your credit or debit card right now, and we'll send you this st. jude t-shirt that you can proudly

wear to show your support. tiffany: anybody and everybody that contributes anything to this place, no matter if it's a big business or just the grandmother that donates once a month, they are changing people's lives. and that's a big deal. [music playing]

david: a lot of money on its way to ukraine and other parts of the world after the u.s. passes multibillion-dollar funding bills. here at home a lot of farmers are struggling, they are asking what is wrong with us, national black farmers association john boyd junior says we need to bring the focus back home and he joins me now, good to see you, thank you for being here. use say that we actually seem to be spending more in ukrainian farmers that american farmers, why don't you make your case.

>> thank you so much for having me. yes this a administration is all about money and a line item specifically in the past for ukraine farmers and we had a major that didn't happen to this a administration and we have farmers right now we had two calls this morning from a farmer looking for $30000 for operating money and another farmer for $50000 for farm operating loan and we cannot help them but here we spent another spending bill, $95 billion with the b and the majority of that going to ukraine and we say not that ukraine doesn't need the help at americans farmers are here home need some help and everybody is beating up on the farmers, the dairy industry from beef cattle

asking people to stop eating american beef, all of these things have her americans farmers and we need to start putting farmers first in this country and stop putting the mass. all of this money that is going out to other portions and regions of the world and overlooking the need of america's farmers in the occupation history and we help feed the world, we can help feed the world and everybody at home but we do not have good enough to participate in these programs and get emerges in lending and the resources to america's farmers. david: forgive me for interrupting, is the biggest problem now the fact that interest rates have gone up so farmers like most small business people need to borrow money in order to make money and when you borrow money at over seven, eight, 9% right now that is enough to kill you, it'll kill your business. >> it's enough to hurt any farmer out here with those high

interest rates and then you have the federal government who should be stepping in with farm emergency loans right now, instead farmers are being told they don't have any money in those particular counties to lend to farmers but we have $95 billion to help other farmers in other regions of the world with all of this money leaving our country and farmers are being told here at home that they cannot get any relief at home, something is terribly wrong with this picture and it's going to take some leadership to fix this. david: what specifically, leadership is hard-to-find inside the beltway these days particularly with a lot of people say the dysfunctional congress and the dysfunctional white house it is hard to get anything done specifically. could you put in a little package for us, what specifically would you like to see in a package approved by congress and passed by president

biden. >> right now the congress could put up a farmer tory him in place so farmers don't continue to lose their farm. how in the world can we let $95 billion leave our country, taxpayer dollars and foreclosing on america's farms, it does not make sense. chuck schumer has known about this, we want a moratorium in place, we want those farmers who were promised debt relief for 120% we want them fully executed and we want america's farmers that need farm operating money right now in panic season, we want those dollars made available for america's farmers so we can plant our crops. >> there are other places where congress and the president sometimes the president on his own has been spending tens and hundreds of billions of dollars on student debt loans relieving the debt, bailing out student debt relief that is

$600 billion, one would think at least a portion of that would be as good if not better hands and the hands of farmers who actually produce something for americans. >> the problem that i have here, they have no problem saying no to american farmers but they have no problem saying yes to people who don't deserve taxpayers money in this country. there was nothing in the spending bill to put things in checking our border, we can stop the president right now if he can stop all the stuff with immigration people coming to this country and we give them credit cards and put them in hotels and then you tell american farmers that they're not good enough for farm operating loan, people can't look at that and say that don't make sense, something is wrong with that too there's nothing in the spending bill to protect the borders. >> we cannot live without american farmers, it is that simple and other money perhaps we could live without but we

cannot live without farmers, we have to do our best to help them. john boyd junior, i'm sorry we have to go, thank you for making the case. >> thank you for having me i hope you come back soon. david: thank you very much. it's been a month since california 20-dollar minimum wage went into effect for fast food workers and surprise surprise, prices are on the rise, fox business kelly saberi has more on all of this. >> exactly as you said that grand total at the drive through is getting higher and higher, market research data essential fines at fast food and fast casual chains have increased their prices by 10% overall across the state of california that is sent september when the state approved the new minimum wage, that includes everyone from shake shack to taco bell. at chick-fil-a you are paying 13% more for the spicy chicken sandwich and atchafalaya chicken burrito will cost you nearly 8% more in california and the

mcdonald's hamburger happy meal for the kids that will be 6% more, goes well beyond simply raising minimum wage, those who do not receive overtime pay must receive double the minimum wage under the new rules and that's forcing franchisees to reorganize the rules altogether moving salaried employees to hourly classification, that's a way to work around this, the new law have blasted democratic governor gavin newsom claiming that the law is costing people money and their jobs, california fast food industry lost 1.3% of the workers between september when the law was announced in january which will outpace total private employment declines in the golden state, fast food giants spent millions of dollars trying to fight this mandate and now they're introducing new items like mcdonald's bagel sandwich to keep their customers coming back into the restaurant.

david: thank you very much for that, president biden's approval rating hitting historic low, how low, we will tell you right after this. ♪ ♪ in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there.

(♪) car, this isn't the way home. that's right james, it isn't. car, where are we going?

we're here. (♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com and they're all coming? those who are still with us, yes. grandpa! what's this? your wings.

light 'em up! gentlemen, it's a beautiful... ...day to fly.

>> a new gallup poll says president biden has the lowest approval rating the president has seen of the past 70 years since president eisenhower, how is he going to win, democrat strategist and pollster doug show when. if history is any judge by the way president biden is not going to win the reelection when you look at these polls, how does he turn that around before the election. >> i think we've seen increasingly that they are waking up at the white house to that fact and the going to run a campaign against donald trump as they did in 2018, 2020 in the 2022 midterm, it worked in three of those elections pretty well, their hypothesis is with his trials and his tendency toward

gas, they have a fighting chance where most presidents frankly would not. david: the difference between now and the first two elections anyways he did not have any kind of record himself to defend. now he is so underwater on the issues that he actually had an effect on as a result being president. we can put them up 59 and only 39% border security disapprove 69% approved 28% and of course the mid east war which we'll talk more in depth the about 69% approval in 27%, how does he turn those numbers around with american voters don't see him affecting the stage. >> is very difficult and tough to enter. on the economy has to talk about inflation and just face the facts on the border he has to take unilateral action and what

he's trying to do without much success is to end the war in gaza, that's the whole point of trying to get the israelis to stand down from the broader middle east peace at all thinking about will work to his advantage the way that they helped, hence the negative campaign into add one other issue the issue of abortion. david: for. >> the divide among democrats, adam smith is a democrat from the state of washington a very liberal state. he's calling for the arrest of what he calls left-wing fascist on campus here's his statement very tough stuff coming from that side of the democratic party but then you have the squad i would play you a soundbite from ilhan omar about speaker johnson's visit to columbia campus last week. roll tape.

>> it's not surprising that he would go to columbia university and stir up more anger and hate and endanger the lives of young people who are at the encampment at columbia university. >> those are the two sides how does that get resolved before the convention in chicago? >> with extreme difficulty. frankly i don't see it resolved, you and i in the past have talked about the 68 conventions. >> we remember as small children. yes. >> yes some of the smaller than others. but it hurt the democrats on the wind, the violence in the streets then, it can hurt them if that happens this year in chicago and joe biden sees the party fracturing sees no clear resolution in the middle east and goodness gracious, i think

speaker johnson speaking is a patriot did the nation a great service getting ukraine and israel and taiwan build through the congress and him going to columbia i think was an act of logic and leadership not stirring up trouble as representative omar said. >> the other difference between chicago now in 1968 with the riots in chicago during the convention that probably lost the democrats that election in 1968, the difference in chicago now you have a very liberal mayor, back then you had a tough mayor, it could be worse that this mayor is not likely to crackdown on protesters in the street, very quickly. >> i don't think he will crackdown. i think the democrats have to keep the party together and stop violence or insurrection or instability in the streets and frankly with a 38% approval rating i'm not betting on joe

biden. david: dog show when, good to see you. thank you very much. donald trump's criminal trial taking a timeout today with resumes tomorrow the prosecution third witness is going to take the stand let's bring in fox news contributor and former u.s. assistant attorney general, attorney general, the attorney general yet maybe someday. >> appeal promotion, i like that. >> we already saw the hush money case once in our u.s. history, that was against the presidential candidate in the 2008 campaign. it failed and i want to read john edward's lawyer in 2012 when the d.o.j. finally dropped the charges, here's what he had to say about the case. the novel theory of campaign law violation charge by the justice department is not a crime. it should be addressed if at all by the federal election commission. i would add to that, they were

around today talking about john edward's case, he would say the least of which should be addressed by a local district attorney as it is today by alvin bragg. >> that's exactly right. the history of the edwards case is kind of tortured because the fec commits very similar to trump's case and what they were saying is hush money was campaign expenditures. the fec said it was not. the justice department went ahead and tried to prosecute him anyway, the judge that the case thrown the jury but i think reluctantly the jury would not convict edwards in the justice department finally dropped the case which goes to show this is a very abstruse area of the law and the whole reason that the congress created the federal election commission was to ensure uniform enforcement across the country which of course you cannot have if local prosecutors will make up their own federal campaign laws.

david: what makes the trump case worse than edwards case in terms of prosecution perspective, they are not prosecuting for conspiracy to steal the election but the prosecution is coming out with information, salacious details about the mba and other things that the trump lawyers did that makes it sound like he is being charged for something which he isn't. isn't the judge failing to explain to the jury that what the prosecution is laying out is not the case against donald trump. >> i think it's an outrageous violation to trump's do violation rights. in the united states if you're going to be tried on a felony accusation you have a right to have the accusation filed an indictment proved by a grand jury. the indictment charges trump with 34 instances of falsification on business records that occurred from

february through december of 2017. the judge is allowing alvin bragg to t the case up to the jury as a conspiracy to violate federal election law and therefore steal the 2016 election that took place from 2015 through 2017. what the government and the state is presenting to the jury is not what is in the indictment against trump it's not what's charged. david: what they're trying to do is convict him of something that he has not been charged with essentially? >> that's exactly right. >> that is totally opposite of what our system is all about, you're supposed to charge somebody with a crime and then convict them of that in the course of the trial and of course they're doing a very interesting dance on all of this. we have to leave it at that. great piece in the national review and it should be read by everybody. thank you for coming and we appreciate it.

coming up the g20 is calling for a global wealth tax on billionaires and why they said this would just be americans transferring their own wealth to the bureaucrats abroad. more on that coming up. i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com (ella) fashion moves fast. (jen) so we partner with verizon to take our operations to the next level. (marquis) with a custom private 5g network. (ella) we get more control of production,

efficiencies, and greater agility. (jen) that's enterprise intelligence. (vo) it's your vision, it's your verizon. there are many ways to do things. at old dominion freight line, we do them this way. this way has people who start early. people who care and inspire each other to do things the way they should be done. this way uses technology (♪) and goes the extra mile (♪) to deliver your promises on-time, every time. this way is why we're the number one national ltl carrier for quality. for us, this way is the right way which is why it's the only way we go.

your shipping manager left to “find themself.” leaving you lost. 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 the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks,

and you're in business. make now the future at godaddy.com/airo david: you will love this 1g20 nations pushing the proposal aiming at soaking the rich, are rich primarily the proposal would impose an international to present wealth tax on the world's billionaires vance begin his back with us what you thing about reed relinquishing our rights to taxpayers to international bureaucrats who are probably going to miss spend all the money because most of the billionaires are right here in the u.s. so it is a transfer

of money from the u.s. to europe into south africa and brazil. >> is a pleasure to be with you, you're exactly right this is a redistribution scheme from productive people do on productive uses of the money, this is a bad idea overall. what we see did other places when you redistribute money they go to the bureaucrats and other wealthy people in those countries compared to other places where they can be used more productively. this is a bad idea plus we don't need a global government, the early doing enough bad things, let's stop at some point. >> our revolution was based on taxation without representation, that's what we were fighting against, isn't that exactly what this is. >> it is. it'll be the worst because with our revolution here we had a free country thereafter whereas i don't what the next step would be it's just going to continue to go to an international and global government situation that they will waste it. david: you use the word international it reminds me the comintern international this is like all rich people have to

give to the dictatorship somewhere in the stratosphere. i want to switch to what is happening with our tax code which is about to expire in 2025 biden said he wants to change the tax code but my question is why it's extraordinarily successful, biden claims it cost is 2 trillion in as a matter of fact we have gained an extra 1.6 trillion and we had a boom of tax revenues at the beginning 2017. an increase of almost 50%, 47.73% extra has come in as a result of the tax code, what do you make of this it's been very successful tax code and biden wants to dump it. >> it is terrible, this will be a major tax increase on those that are under a hundred thousand knee said he would never do that, read my lips he

will have higher taxes on everyone, this will hurt the economy is already a fragile situation across the economy were hard-working americans are making a very unaffordable to live this would be another nail and what's going on in a bad economy that we should not do this and extend the trump tax cuts and make sure the corporate tax rates stay lower to coming 30 talking about raising that up to 20%. david: can you put up the full screen that we had a second ago, tax revenue boom. the tax receipt for 2022, 4.89 trillion, that is more than the entire federal budget in 2019 which means we would had a balanced budget by now if we just stuck with that and not have the training and other spending plans of the body administration. great to see you, thank you very much, that does it for us on "coast to coast", here is brian brenberg in the big money story. >> i just heard the words balanced budget out of your mouth, i could not believe my ears, that would be an amazing thing.