Country as a host of new surveys more americans see themselves slipping out of the middle class. With us, Jonathan Hoenig from capitalist pig asset management, fox news contributor. Rich lowery, National Review and sam chan done, economist with chandone economics. Sam, i start with you. 200,000 new nonfarm jobs created in the month. An Unemployment Rate that slips to 6. 6 . Do you agree with the consensus number or do you agree it would could be better . I think we could have number better than that. Weve had drag over job creation over past couple months because of bad weather. What that means, although weather isnt a negative issue for us in the march numbers, the march numbers might be inflated a little bit. If there was hiring that wasnt happening in january and february gerri so may be a head fake . Yeah. Gerri jonathan, what do you say . I know you follow these numbers very closely. What do you expect tomorrow . And even if we have something a little better than 200,000, is that really satisfying . I think you will see a dramatic reaction in the markets, gerri, as the number beats expectations. You could see 210, maybe even 220,000 jobs created. One big factor, ironically due to obamacare. Think about it, four or five months ago when Small Businesses were citing obamacare as the main reason they werent hiring. For better or worse, some of that uncertainty cleared up, i think you will see a bit of a tick up when it comes to employment. I dont think the economy is necessarily getting better. As they go, one doesnt make a thing. Gerri rich to you, you follow this from slightly different point of view. A political point of view. How do you think americans feeling about the job market right now . Theyre not feeling good. We have surveys people dont consider themselves middle class the way they used to in the past. That is almost entirely function of job market. Obama care continues to be huge issue. But republicans would be well served to remember this, the jobs market and the economy is hugely important to everyone in the country. Gerri hugely important. We got a report how much people were making on a average per hour. It was not impressive. Everybody says, 200,000, 220,000, that is great news but what kind of jobs is this economy producing . If were getting excited about 210,000 jobs because only expectations are lowered significantly because of recession and numb members were kind of seeing. Were not necessarily creating kinds of jobs that give us large amounts of discretionary income. They are not jobs that have large multiplier effect. If you create a big job you have big spillover effects into the economy and create other jobs. Jobs are created in health care and education. When we look at executive and business service, a lot is temporary workers. That is not kind of longterm career employment were looking for. Gerri jonathan, go right ahead. Sure, i will echo sams point. A good economy, gerri, it is like porn city you if when you see it. We know it if we dont have a great number tomorrow. Past recoveries like 2000 and knight 90s, early 1980s was presence of government. You saw much faster recovery with high hiring and gdp because you didnt have all the intervention, stimulus and all that debt of the that is why this time is different. The economy despite all the that intervention and stimulus is sputtering. Gerri were still not learning our lessons. Rich, one of the fact that is more disturbing, more and more americans are saying you know what . Im not middle class anymore. Yeah. Gerri im lower middle class. I find that concerning. What do you make of it . The number from pew is beginning in 2008, before we had this horrible recession, 25 of people considered themselves lower, middle or working class. Now the number is 40. This is a huge bump. Part of it is cyclical, having to do with nature of economy. A lot of people dont think it is coming back. Gerri right. If you ask people if it is easier to be middle class than it was 10 years ago of 58 of people say it is harder. Part of it is jobs market and cost of living, cost of health car, cost of energy, cost of college. Gerri sam, you cant blame them. Incomes are stagnant to falling. We have to have Something Different in this country. If we look overall what is happening with income. And there are couple different ways we measure but if we include measures of total compensation and include as fringe benefits, incomes are up a little bit. Major issue there are very big issues in income trends. Gerri is this 1 story for you. I think it goes much, much deeper than that. I dont think its a 1 story we do have an issue where you have a large segment of the population where incomes are growing slowly. If you think about where you are and how your income is growing relative to what you see happening in the broader environment, there is this sort of, theres this perspective issue. You see some gerri is it perspective . I dont think so. If your income is growing slowly you feel badly no matter how badly or well other people are doing. Youre most concerned about is your own state of wellbeing. You see wages pick up and incomes pick up, people dont care about Mark Zuckerberg getting richer. It is income, gerri. I think it is culture. To richs point we used to celebrate Mark Zuckerberg or steve jobs or any of the 1990s, tech titans. When they were getting rich, we were all getting rich. Everyone was getting rich. Economy was more wealthy. When you see somebody is wealthy, the sense whose palms did he grease . What subsidies he is getting . What fed induced bubbles is he participating. There is distrust for Wealth Creation and i blame washington. Gerri you make a good point. There is a lot of distress out there. When americans themselves stop identifying themselves as middle class, you know there is a big, big problem in this country. We have to have a better economy that puts more and more people to work for wages. That will let them, raise a family and put their kids to school and, retire. Thats my view anyway. Ich, sam,r coming on the show tonight. You guys were terrific together. Thank you so much. Thanks, gerri. Youre most welcome. Are you planning a vacation soon . If not youre not alone. Employees are only using half, half of their paid vacation. That is according to a new survey from the careers website, glass door. A big reason for refusing to take vacation, fear, fear of falling behind. Fear of missing that big premotion. 17 of the survey they fear losing their job if they go on vacation. But not using your full amount of vacation means employees could leave more than 1300 bucks on the table. The survey also find when workers do go on vacation, the office isnt very far away. 61 of the americans say they work while theyre on vacation. Do you do that . We want to know what you think. Here is our question tonight. Do you work when you go on vacation . Log on to gerri willis dotcom. Vote on righthand side of the screen. I will share results at the end of tonights show. We have more coming you, including how to save big on your mortgage. Congress is saying one more time to yet again extending tax extenders. Is tax reform a lost cause . Did washington lose its way . Probably. Our panel weighs in next. I ys say be thman with the plan but with less ergy, moodiness, i had to do something. I saw mdoctor. A blood test showed it was low testosterone, not age. We talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. Report these symptoms to your doctor. Tell your doctorbout all medical conditions and medications. Serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. Ask your doctor about axiron. But i didnt always watch out for myself. With so much noise about health care, i tuned it all out. With unitedhealthcare, i get information that matters. My individual health profile, not random statistics. They even reward me for addressing my health risks. So im doing fine. But shes still gonna give me a heart attack. Innovations that work for you. Thats health in numbers. Unitedhealthcare. [ male announcer ] this m has an Accomplished Research and Analytical Group at his disposal. But even more pressive is how he puts it to work for his clients. Morning. Morning. Thanks for meeting so early. Oh, its not a big deal at all. Come on in. [ male announcer ] its how edward jones makes sense of investing. Gerri there is a big fight brewing in washington over what they call tax extenders. These are dozens of tax breaks that expired last year and special Interest Groups want them restored or extended. What is really needed is a complete overhaul of the tax code but that hasnt happened in nearly 30 years. Peter barnes is our senior washington correspondent and has the details. Peteer . Gerri, thats right. The Senate FinanceCommittee Approved a package of 50 tax breaks today. Congress usually approves these every year, year after year, rather than just fold them into the tax code but the Committee Approved a twoyear, 85 billion extension of these tax breaks this time around. It did that to try to buy some time to actually try to deal with them permanently and fix the rest of the crazy tax code that is riddled with complexity and special interest provisions. Provisions he approved including mainstream ones extending tax relief for struggling homeowners with mortgage debt forgiven. Research an Development Tax credit for companies. Mass transit and parking tax break that Companies Give their employees and bonus depreciation to encourage companies to invest more in factories and equipment. There was usual grab bag of really special interest provisions, Film Production expensing for hollywood studios. Tax credit for people who buy electric motorcycles. Faster writeoffs for owners of, race horses. As well as owners of, automobile racetracks. The new chairman of the finance Committee Said this is the last time for one of these kinds of bills. Democrat ron wyden wants comprehensive tax reform completed in 2015. To make his point he called this, the expire act. This will be the last tax extenders bill the Committee Takes up as long as i am the chairman. That is why the bill is called the expire act. It is meant to expire. The households its first hearing on its own extenders bill next week. Look for congress to pass all this by the end of the year, retroactive to january 1st. Gerri . Gerri peter barnes, the beat goes on and on and on. Thank you for telling us about it. You bet. Gerri with us pete from the National Taxpayers union and scott hodge, president of the tax foundation. Welcome to both of you. Scott, i will start with you. 55 tax extend terse last year. We heard some of these are. Tax breaks for people with race horses, people with electric motorcycles there. Is nascar tax break. There are some stuff folks consider essential. Is this any way to run a country, scott . No way to run a tax code either. Really what has become is, sort of an annual fundraising event for members of the ways and means of finance committees. They get to shake down the Business Community and lure them into to come and argue for their pet projects. It is also a way for lobbyists to get rich because this becomes an annal event for the annual event for k street community. I commend chairman wyden to make these permanent meant. This calls for fundamental tax reform. Gerri fundamental tax reform. I bet pete doesnt disagree with you on that . No. Gerri reminds me a little bit what we want through obamacare, right . Rules kept changing, rules kept changing. I dont really know how you run a business in this economy, pete, when you really dont know what the bottom line is what the endgame is. Yeah. How much of a hamstring is . To people running Small Businesses . It is terrible. You dont run a business in this kind of environment. You slow down your investment plans, your hiring plans, all of it. Look at one of these provisions. This is the expensing provision. Right now a Small Business could writeoff 500,000 of expenses up front if this package is renewed. It will fall to 25,000 if congress does nothing. Thats a huge fall. Congress is saying, no worries well get around to it this year. Well make it retroactive to the beginning of the year. Its too late. Many Small Businesses already made their investment plans last year. They probably, at least a number of them, took a chance and said, well, i dont think congress will provide this additional expensing. I will not make an investment. That shows up in downstream effect the on economy. Gerri downstream meaning bad effects right . Yes. Gerri fewer jobs. Companies cant plan, cant hire. How do you expand if you dont know what the rules are. Scott to you, how are we paying for this . This is not cheap . It is not cheap. We paid for these last year. They were in part of law last year. It is really not costing us anything more relative to last year. It costs more relative to allowing them to expire but, it is about a 50 billion, or off billion dollars a year expense. But that should be folded into fundamental tax reform ultimately. A lot of these things wouldnt survive on their own werent part after megaproject matched with necessary things like the r d tax credit. Most of them would simply wither on the vine if they were put out there for a vote on their own. Gerri well, to that point, pete, i mean, you know, ron wydenall this the last tax extenders ever. Really . Do we really believe that . This is 15th time weve gone down this road. Lets hope 15 is the charm. Only 15 provisions actually had a shelf life on them in the original 1986 tax reform act. You mentioned 55 alone from last year. That is an illustration how bad this problem has become. Gerri i couldnt agree with you more. Scott, ever since ive been at this network we talked about the possibility of tax reform. What tax reform should look like and be like. I hear from our viewers what kind of tax reform they would like to see. At this point in our cultural history. What kind of chance would you give us, small, big, little, having comprehensive tax reform . Im afraid i ace few years off. Congressman dave camps trial balloon package has been burst. There is little chance of anything happening this year. Which means were ultimately not looking until something happening on tax reform until after the next president ial election in 2017. So dont hold your breath. Tax reform is not around the corner. Gerri tax reform, not around the corner, pete, do you agree, last word . Im afraid so. Of course the system is collapsing under the weight of its own complexity. 240 billion a year compliance burden alone. Congress will be forced to confront this. Or they will have to confront declining revenues because people wont know how to comply with the system. Gerri long way to go. Pete, scott, thanks for coming on. Great to see you guys. Take care. Gerri coming up later in the show, household brands, you know them, theyre giving themselves a makeover. Will it win over customers . Next we answer the question, how do you do that . You have your dream house. Well show you how to get the most savings out of your mortgage. Stay with us. [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the Aerospace Industry in the u. S. . At t. Rowe price, we understand the connections of a complex, global economy. Its just one reason over 75 of our mutual funds beat their 10year lipper average. T. Rowe price. Invest with confidence. Request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. We are thinkers. The job jugglers. The up allnhts. And the ones who turn ideas into action. Weve made our passions our lifes work. We strive for the moments where we can s, i did it we are entrepreneurs who started it all. With a signature. Legalzoom has helped start over 1 million businesses, turning dreamers into business owners. And were here to help start yours. Gerri are you overpaying on your mortgage . It can happen. Why doublechecking your statement can save you big bucks. We have an expert with advice coming up. [ male announcer ] its here Xfinity Watchathon week, your chance to watch full seasons of tvs hottest shows for free with xfinity on demand. Theres romance, face slaps, whatever that is, pirates, helicopters, piratecopters. Argh hmm. Its so huge, its being broadcast on mars. Heroes. Bad guys. Asteroids. Available only on mars. Theres watching. Then theres watchathoning. Gerri did you know you could get savings on monthly mortgage and were not talking about refis in you might not if youre not doublechecking statements. How do do that . We have the founder of help save my dollar. Com. Author of the book, more money please, the Financial Secrets you never learned in school. More money please. I like that. It is polite but it is emphatic. Lets walk through this. You cant save money without the refi. For example, what are unapplied funds. You want to make sure the balance in your unapplied fund account is zero. The reason any money could be there in the first place if you have made an extra mortgage payment. Maybe youve been making payments every two weeks and that doesnt cover full amount or youve been paying extra 50 here and there. These are tactics people use to pay off the mortgage sooner. If you dont tell the bank ahead of time. Gerri they screw it up. They will put money in unapplied fund account. That will not make money work toward your advantage. Make sure they allocate that money to principle so you can pay off your