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Faith Nation: October 13, 2021

The supply chain emergency leading to empty shelves and high prices. And outcry over a plan to allow the IRS to access bank data for accounts with transactions over $600. Israel's foreign minister's visit with America's top diplomats as the ... ... Read Transcript


(effects whooshing)

- [Announcer] Tonight, all backed up.

- [Man] Workers here at the port

are now working around the clock.

- [Announcer] The supply chain emergency

leading to empty shelves and high prices.

Plus tax backlash.

- To reject this plan.

- [Announcer] The outcryover a plan to allow the IRS

to access bank data

for accounts with transactions over $600.

And the Israeli delegation,

the foreign ministers visitwith America's top leaders.

All this and more tonighton "Faith Nation."

(mid tempo music)

- A shortage in the supplychain could spell higher prices

ahead of the holidays.

Welcome to "Fade Nation"I'm Jenna Browder.

- Good evening, I'm John Jessup.

The broken link rather,

the United States facesin the supply chain

causing a ripple effectthroughout the economy,

including Americans wallets.

- And the White House tonighttrying to help alleviate

some of the tension,

but the strain of higherprices and shipping delays

could go on for months.

Senior Washington,correspondent Tara Mergener

has tonight's top story.

Tara, this is a big dealfor a lot of families.

- Sure is John and Jenna,

that's right in the WhiteHouse and businesses

literally from coast to coast

are warning the supplyheadaches will get even worse

as the holidays approachand demand is higher,

and this year prices willno doubt be higher too.

To help get things moving again,

the president says he'sbrokered an agreement

for the Port of Los Angeles

to become a 24 hour, sevendays a week operation.

- You're hearing a lot aboutsomething called supply chains

and how hard it is toget a range of things

from a toaster to sneakers, to bicycles.

- [Tara] Big retailersand shipping companies

are also pledging to expand their hours.

President Biden meeting withWalmart, UPS and Home Depot.

- This is the first key step

toward moving our entirefreight transportation

and logistical supply chain nationwide

to a 24/7 system.

- [Tara] LA and Long Beach ports

account for 40% of shippingcontainers that enter the US,

both suffering fromrecord-breaking backlogs.

- What happens with therailroads in the Midwest

and warehouses across the country

affects the number ofships that everyone sees

out here in the.

- [Tara] Hi consumer demand,

plus a shortage of truck drivers.

(truck engine revving)

- We're about three hours late.

- [Tara] Factory workers andother supply chain issues

are also keeping manyitems off store shelves

with the shortages expected to continue

through the holidays.

- To keep your shelves full,

we have to order eight weeksin advance, eight to six weeks.

- Basically what I'vebeen telling people to do

is start shopping early

even before Halloween.

- [Tara] But the treasury secretary

is telling Americans not to panic.

- I think there's no reasonfor consumers to panic

about the absence of goods

that they're gonna wannaacquire at Christmas.

- [Tara] The White Househas launched a task force

to examine these supply chain issues.

Economists also warndelays and higher prices

may also stifle consumer spending

in an already fragile economic recovery.

And the latest inflation reading shows

it edged up to 5.4% last month,

with the biggest increasesin food, shelter and gas.

Now, according to arecent bank rate survey,

89% of Americans now say

they have noticed these risingprices at the cash register.

66% John and Jenna say,they are hurting financially

because of them.

It's a big deal.

- It is a big deal.

All right, Tara Mergener, thank you.

Meanwhile, the Biden administration

wants to give the IRS financial data

for millions of Americans and businesses.

Under the plan banks would have to report

any customer transactions over $600.

Supporters say it would help pay

for Biden's high dollar domestic agenda

by cracking down on wealthy tax cheats.

Critics say it's an invasion of privacy.

Capitol Hill correspondent,Abigail Robertson

has the story.

Abby.

- Well Jenna, Republicanscall this proposal bizarre

and claim that it will flag all kinds

of ordinary transactionsmade by regular Americans

all the time.

- And in fact, Democratswant to let the IRS

systematically snoop through

normal families checking accounts.

As though they were allpotential financial criminals

until proven otherwise.

- [Abigail] The governmentalready has special authority

to demand information ontransactions over $10,000.

But this would drasticallydecrease that number.

- If American familiesare sending or receiving

$600 from their checking account,

Democrats want the IRSto snoop through it.

- [Abigail] Treasurysecretary, Janet Yellen,

argues the proposal hasbeen mis-characterized.

- The proposal involves no reporting

of individual transactionsof any individual.

- [Abigail] Yellen told CBS,

the goal is to holdbillionaires accountable.

- The big picture isthat we have a tax gap

that over the next decadeis estimated at $7 trillion.

Namely a shortfall in theamount that IRS is collecting

due to a failure of individuals

to report the incomethat they have earned.

- [Abigail] IowaCongresswoman Ashley Hinson

is leading the charge to block the effort.

- The government doesn't need to know

every time you're going to Costco

and stocking up on diapers and groceries.

And I think it's justan incredible invasion

of big government.

And so our bill is designedto fight back against that.

- If approved, banks will berequired to provide the IRS

with the total amount flowing in and out

of flagged accounts each year.

Now many financial institutions are saying

that all of this couldcause their costs to go up,

which the consumers would eventually feel.

John, Jenna.

- Abigail Robertsonreporting for us, thank you.

And joining us now is Norbert Michel

director for the Center of Monetary

and Financial Alternativesat the Cato Institute.

Norbert, welcome, great to have you.

- Hi, thanks for having me.- So let's start there.

What do you think about this proposed

$600 reporting requirement?

- Well, it would befunny if it was a joke,

but it's not a joke.

First thing is that this tax gap concept,

this is not new.

This idea that somehow the IRS knows

they should be taking in Xamount of money in taxes,

but they're only getting much less,

that's been going on.

They've been talking about that

for well over 30 or 40 years.

And the truth is if youknow that it's billionaires

that are cheating on their taxes,

well, you know exactlywho those people are.

There aren't that manybillionaires in the US or anywhere

relative to everybody else.

So it's very easy to go after exactly

who you say is not paying their taxes,

There's no need to collect

everybody's bank account information.

- So along those lines,

Treasury Secretary Janet Yellen says

it is not about peeking intoAmerican's pocket books,

but cracking down on wealthy tax cheats,

which you mentioned theyshould know who those are.

Is there a more effective way to recoup

that loss revenue and taxes?

- Sure, I mean, if...

I don't wanna concedethat it exists though.

And first of all, let me just throw in

that what she's saying is nonsense.

What she's saying, doesn't add up.

You're literally going to have the IRS

take a giant data file fromall these different banks.

This is very much like theanti money laundering reports.

As it is banks file

millions and millionsof reports every year

on multiple transactions,

even for people who have doneabsolutely nothing wrong.

So I'm actually a little bit surprised

that the banks are pushingback so forcefully on this,

because they're perfectly fine

with doing all the anti moneylaundering stuff that they do,

even though it's quite similar.

But it it's very easy.

The IRS has everybody'sincome information,

they know who makes abillion dollars a year.

They know who the wealthiestindividuals are in the nation.

If those people are in factcheating on their taxes,

well, there's a processfor dealing with that,

and this is not necessary.

And I guarantee you that if they audit

a billionaire or anybody else,

and they have reasonable suspicion

that you are committingfraudulent tax returns

or submitting fraudulent tax returns,

they can get your bankaccount information,

they can get everything,they can seize your assets.

There's no need to do this.

- Speaker, Nancy Pelosihas said that $600 figure

is up for negotiation.

Norbert do you think there is a figure

that would be more fair?

- No, the concept is completely misguided.

- All right, we will leave it there.

Norbert Michel with the Cato Institute,

it's great to have you on thisevening to get your insights.

Thank you.- Thank Norbert.

Thank you.

(effects whooshing)

- [Jenna] Another heatedschool board meeting

in Northern Virginia.

The shocking allegations

that are leading some parents

to call for a superintendentto resign, next.

(mid tempo music)

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- But having sex before you're married

is a bad idea.

- [Man] Don't tell methere's no such thing

as drug and violence.

- That just depends on yourdefinition of when life begins.

- [Announcer] Watch Dan andDale tackle trending topics

that test your faith onthe next "Faithwire,"

Monday night at 8:30 onthe CBN News Channel,

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- [Gary] And it's all righthere on the "Global Lane."

- [Announcer] Thursday night at 8:30

on the CBN News Channel.

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- Welcome back.

Outraged parents are blaming asuburban DC school districts,

transgender bathroom policy

for claims of sexualassault against children.

That led to another 10 schoolboard meeting Tuesday night

in Loudon county, Virginia.

According to the "Daily Wire,"

Scott Smith says hisdaughter was assaulted

at a bathroom in StonebridgeHigh School last May.

When he went before the board

to share what he says happened

and to protest the policy, hesays factored into the attack,

he was arrested and later foundguilty of disorderly conduct

and resisting arrest.

Following the "Daily Wire" story,

more than 60 parents attendedlast night's board meeting

demanding the superintendent resign.

Well, joining us now is Tony Perkins

with the Family Research Council.

Tony, welcome back to "Faith Nation."

You wrote an article about this called,

"A School Horror Story ThatDid Not Fit The Narrative."

Tony, can you explainwhat you meant by that?

- Certainly, first offLoudon county is exhibit A,

in what is wrong with our public schools

where the welfare, the safety of children

being pushed to the back of the bus.

So wokeism, this liberal ideology,

and this is radical sexual policy

can be pushed on through our schools.

What we had here isthat a Scott's daughter

was sexually assaulted in a bathroom

based upon the school's bathroom policy.

It was a male wearing a dress.

He obviously was upset about that.

He was at a school board meeting in June,

and this assault took place in May.

The superintendent denied

when the bathroom policywas being considered

that no assaults had occurred.

And of course Scott was upset about this

and wanted to speak out,that's when he was arrested.

But John what's so outrageous about this

is that the NationalSchool Boards Association

that wrote the letterjust a week and a half ago

to president Biden askingthe Department of Justice

to get involved in theschool board meetings,

cited that case as their evidence,

that "domestic terrorism" is taking place

in these school board meetings.

- According to school policy, Tony,

Loudon county students are allowed to use

their chosen name and gender

to determine which bathroom they'll use.

Some parents say that's whatled to these allegations

of sexual abuse.

What do you say to that?

- Well, clearly the policies

that they're adopting on this...

I mean, look, this is insanity

that we're allowing boys

that have all of their parts as boys

to go in girl's restrooms,

that's what leads to assault.

You don't have to be a brainsurgeon to figure this one out.

This is surrendering

What is common sense to allow the Left,

to push this agenda thatsexualizes our children

and jeopardizes theirwellbeing and their safety

all to appease the Left.

The superintendent,

the documents that havebeen released so far,

make it very clear,

the school was aware of this assault,

but yet denied it in theschool board meeting.

Something needs to happen here.

- Tony, along those lines,

parents are calling for thesuperintendent to resign,

claiming that the districtcovered up the allegations

of sexual assault.

There are two alleged cases.

And given what happened tothe father, Scott Smith,

do you see that potentially happening?

- Well, the school boardreleased a statement

just a little bit ago

saying they were unaware of this,

but certainly they should takeaction on the superintendent

if they were not aware of this.

But keep this in mind,

this is just, as I said, exhibit A,

this is not the onlyplace this is occurring.

This is occurring all across America

in public schools that havethese ludicrous policies,

asinine policies that deny reality

in order to appease the Left.

It's time that parents continue,

despite what the Bidenadministration might suggest

that they're equivalentto domestic terrorists,

by signing onto

the National School BoardsAssociations letter.

But what they need to dois continue to show up

and demand that these schoolsprotect their children.

- All right, Tony Perkins withthe Family Research Council.

Tony, great to see you.

Thank you.

- Thank you.

(effects whooshing)

- A new warning fromIsrael's foreign minister,

why he's telling the Biden administration

to tread with caution.

When "Faith Nation" returns.

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- Welcome back.

Iran becoming a nuclear stateis a problem for Israel.

That's been the message

from Israeli Foreign Minister Yair Lapid

during his trip to Washington this week.

Today, he brought that concern

to Secretary of State Antony Blinken.

- Every delay in negotiations

brings Iran closer to a nuclear bomb.

The Iranians are clearlydragging the heels,

trying to cheat the world

to continue to enrich uranium,

to develop theirballistic missile program.

If a terror regime is goingto acquire a nuclear weapon,

we must act,

we must make clear that thecivilized world won't allow it.

- Since the Bidenadministration took office,

Israel and the US have disagreed

over the US reinstatingnuclear negotiations with Iran.

But Lapid says, despite the disagreements,

Israel security is something both nations

view as a top priority.

While in Washington Lapidand his counterparts

also discuss programs made

since the signing of theAbraham Accords last year.

(effects whooshing)

- And for more now,

we turn to Middle EastBureau Chief Chris Mitchell,

Chris, always great to see you.

Can you tell us,

in what ways the Abraham Accords

have reshaped the Middle East,

since the historic pactwas signed last summer?

- Well, John, it really haschanged the whole Middle East.

I would say one thing that it's done

is, it's made these historic alliances

between many of these SunniArab nations and Israel public.

Actually, some of these alliances

had been under theradar for several years,

but once they codified them last year

in the Abraham Accords,

it really has changed the alliances here.

Many of these alliances areagainst the common enemy,

and that would be Iran.

But on the other hand,

it really has changed tradeand has changed tourism

and people to peoplerelationships between Israel

and many of these Sunni Arab nations.

I was at a meeting just yesterday, John,

about the Knesset Abraham Accords Caucus.

They're trying to institutionalize,

trying to move these forward.

I met a Bahraini here yesterday,

and I was asking him, washis first time in Israel.

He said, Israeli's a great people,

he loves work with them.

Just a sign of howthings are changing here

in the Middle East.

- Chris does the Biden administration

show any interest infurthering the accords?

Has there been any progress

since president Biden took office?

- John I'd say yes and no.

I mean, we had progressjust about a week ago,

Sudan said that it wasgonna seize assets of Hamas.

Hamas and Sudan had been working together

and funneling funds to theterror group in the Gaza Strip.

They have been shut off right now.

Sudan is gonna be taken offthe terror group of states.

So that's one thing, sign of progress.

Yesterday at that meeting,

I was telling you aboutthe charge d'affaires here

at the US embassy

said the Biden administration,

is gonna keep the momentum going

with the Abraham Accords.

However, John,

I don't think it's the kind of motivation

the kind of a tailwind as it were

that you would find withthe Trump administration.

So yes, there is some progress,

but I don't think the same kindof progress that you'd see.

- Chris, the Israeli delegation

that's here in the United States

keeps bringing up Iranduring their meetings.

It exposes a source of tension

between Israel and the United States.

How are the revived nuclearnegotiations with Tehran

viewed by the public in Israel?

- I think viewed by thepublic and Israeli leaders,

you could go back tothe form of government

with Benjamin Netanyahu,the current government

with Naftali Bennett.

And I know Yair Lapidthere in Washington now.

Across the board they see the nuclear deal

as something that would endanger Israel.

They feel it leaves apath for a nuclear...

Not a nuclear device,

a nuclear arsenal forthe Islamic Republic.

And they see as an existential threat.

That's why many leaders, John,

here have been saying that

Israel will go it alone if they have to.

In other words,

they're not gonna allow the United States

to have a veto over Israel,

attacking nuclearfacilities throughout Iran,

if they have to do that.

It's a last resort,

but it's something that Israel feels like

they need to do it for their own survival.

So the United States isnot gonna have a veto

over this existential threat,

that's been hanging overIsrael for many, many years.

- Many years, indeed.

Chris, as you well know,

last month, Progressive lawmakers

here in the United StatesHouse of Representatives

stripped iron dome fundingfrom a spending measure,

later, it ultimately wonapproval in another vote.

But obviously Chris,

the move made a statement.

Can you remind us how important

America's military and financial support

is to Israel's defensive measures?

- Well, it's vital John.

I mean, it's about $3 billion a year

that they get in a aid.

I know there was something signed up

with the Obamaadministration over 10 years,

I think $30 billion of aid.

But it's a two way street.

A lot of people will be here,

would like to remind Americans

that technology goes both ways.

And actually the United States

actually gets a lot of advantages

by some of the technologyand the weapon systems

that come over here to Israel.

That includes the iron dome actually.

Ironically, some of thattechnology is a joint venture

with Israel and the United States.

But certainly the kind offunds and the technology,

F35 Fighters, forexample, things like that

is something that Israelreally needs for its defense.

It's a tough neighborhood over here.

The main threat as wetalked about is Iran,

so they need the US

but I think the US also needs Israel,

it's a cooperative venture

and they really need a strong Israel

here in the Middle East.

It really does protectthe United States as well.

And especially now,

after the US's pulling out of Afghanistan,

it really does have a dominoeffect and it threatens Israel.

We talked just a few hours ago

with a former US Secretaryof State Mike Pompeo,

and he was adamant in his needthat the United States needs,

especially now after Afghanistan,

stand with the Jewish state.

- Alright, CBN, Middle EastBureau, chief Chris Mitchell,

Chris, we always appreciate your time.

Thank you so much.

- Great to be with you, John.

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- [Announcer] Nutrition,exercise, essential oils,

weight loss, and more.

It's "Healthy Living" with Lorie Johnson.

- Talk about what's in this.

- [Announcer] Join CBN healthreporter, Lorie Johnson,

to get the latest information

from today's top health experts.

- This is fantastic.

- [Announcer] Find outwhat you need to know

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- Finally tonight,after years been sailing

among the stars on TV on the big screen,

actor William Shatner has finallygotten a real life glimpse

of the world beyond Earth's atmosphere.

- Now the man who immortalized

"Star Trek's Captain Kirk

is making history and the process.

At 90 Shatner has becomethe oldest person ever

to blast off into space

for about 10 minutes today,

he joined three passenger

on Jeff Bezos' Blue Origin rocket

taking in an interstellarview of the earth.

- How do I go?

I can't even begin to express,

what I would love to do

is to communicate as much as possible.

The jeopardy,

the moment you see

how the vulnerability of everything

it's so smooth.

This air, which is keeping us alive

is thinner than your skin.

- Even with the fame and fortune,

Shatner says today's space flight

was the most profoundexperience of his life.

And Jenna I have to admit,

good for him as a formerTrekkie, a big fan.

- You know, he looks good.

I wouldn't say 90 for him.- I would agree.

Thanks for watching.

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