Of the panelists here would be against you on that, mr. Mayor, i want to give you a forum to make your case. Why do we need to tax the hell out of the rich . Thank you for that. Thanks for the opportunity to be with you. I want everybody to look at the details of the plan at tax the hell. Com. It is a website. It is provocative on purpose. For 40 years, the people in this country, middle class people, working class people, have been either stuck economically or going backwards. Thats the larger truth to what we experienced. I go to iowa, many states, people are talking about their frustration and concern the next generation is going to do worse than they did. Part of what we need to address is the reality is small number of people have gotten richer and richer, paying less and less in taxes. David thats in dollar terms not in percent, because the top 1 pay about 37 of all income taxes. So this gets to the essence of my point. Youre comparing recent years. Im comparing American History going back a little bit farther to the time of john k. Kennedy and dwight eisenhower, when we had a much higher marginal tax rate for wealthy folks. Honestly it was a time when this country was working for middle class people and working class people much more effectively in a fair way. The federal government had the resources to invest in infrastructure. It was a time of great infrastructure development, research, science. It was a time when the American Economy was booming and growing and there was relative shared prosperity. I think theres a direct correlation to having the kind of tax level that gives the federal government that opportunity. One more thing, im someone who believes one of the first things the democrats should do in the white house is repeal those tax trump cuts excuse me, those trump tax cuts for the wealthy and corporations and restore the deduction which i think was a matter of fairness for over hundred years for people in this country. I think it needs to be brought back. Mayor, it is carol roth. Building on that, you said things like theres plenty of money in this country but its in wrong hands, whether its oprah, jeff bezos or a Small Business owner thats built up the equity of his or her business over decades and decades, what is it that you think gives the government the right to demonize that success, to take away that money, and to give it to somebody else who doesnt earn it . Well, honestly, i believe theres nothing demonizing about making sure theres fairness. Look, we have got a country right now where for a huge part of our population, it is not working the way it used to. Im someone who actually believes in an American Dream where prosperity is shared, where theres an opportunity for a huge huge number of americans to get ahead and to make the next generation have even greater opportunity. We dont see that now. One of the reasons is the concentration of wealth and power in the hands of the few. Were not talking about Small Business owners. Were talking about the super rich. And for them, we have to be clear in my view, its time to pay your fair share of taxes. That tax rates been going down and down and down. The federal government has helped them to accumulate that wealth. I think the vast majority of American People, including a lot of republicans, independents, want to see a fairer tax system, where more is asked of those who have done very very well. Since were talking about money. I want to bring up healthcare. You very recently said that all undocumented new yorkers should receive healthcare. How is that going to stop people then from swarming into the city and i know this is a policy thats discussed often in california as well. How are you going to stop people from coming here, taking advantage of the system, putting the burden on everyone, and then adding to our costs since were talking about that . I get this question in many areas. This is a city that believes in providing support for people in different ways. We found thats never happened honestly. Very few people all the research we have done, honestly. Im going on the first point. People who are documented have not come here in search of quote unquote benefits. We have never seen that historical historically. Right now this is a city its new york. Look, im proud to say on my watch weve added 500,000 jobs, most jobs in our history, highest population, the lowest crime, a lot of good things happening, but it is not a place everyone is going to move to for a lot of reasons. I want to go to the essence of your question. I know it sounds scary when you say it first. Why should undocumented people get healthcare . First, theres 11 or 12 people here part of our economy, part of our community, they are not going anywhere. Thats the reality. When they get healthcare, they are going to the emergency room. We are paying anyway. They are getting healthcare the worst way, the most expensive way. We dont want anybody who lives in the United States of america to end up in the emergency room if they get care the right way. You are saying we are, but may as well let them come in; right . Not at all. Im saying a bigger truth. I believe this in my heart. Were having to debate whats happening in the border right now. We are missing whats happening in our 50 states. 11 million, 12 Million People who are here, part of our community, that happened decades ago. Bluntly its been accepted de facto by many people, in real y reality, if you have a lot of people in your community who dont have healthcare, its a great way to spread disease, and they get the most expensive way to get care, the emergency room. One thing new yorkers can unite on is the crisis happening with the homeless, right . Its only gone up under your tenureship. We have over 61,000 people that are homeless here and your Marquee Program thrive nyc has spent millions of dollars and we havent seen any tangible results. How can you account for that with Big Government . We havent seen anything because its in agencies as well as contractors who have gotten the money thats not accurate. You raise two very different realities. They actually dont connect in a lot of ways. I will try and break it down real quick, david. First of all, the reason we have more homeless folks nowadays is not Mental Health. It is economic. That the cost of housing went up in new york city, consistently, even during and after the recession and wage levels did not. We have a lot more families homeless. Folks who have no Mental Health problems at all. We do shelter them in this city. Thats why you dont see the number of people on the streets you say unfortunately in some of the west coast cities comparatively. We have a lot more work to do. Im not saying it is an acceptable situation. At least were able to give people humane situation. 100,000 people that went into shelter out of shelter and went into affordable housing. We have an aggressive outreach effort to get people off the street. Mental health, this country does not have a Mental Health plan or strategy, but 1 in 5 American Adults has some kind of Mental Health challenge. Do you want to hear about Mental Health . Go to iowa where people talk about it all the time because their clinics were cut back in rural areas and folks are struggling from lack of care. Were trying to destigmatize the challenge of Mental Health. We have a simple point of access that anyone can call, Mental Health challenge, Substance Abuse challenge and get help and get connected to an appointment. David i have an anecdote. Theres some very disturbed people on the streets, to kevins point. Very disturbed people and sometimes when you try to get the police to intervene and they say we cant do it because the laws prevent us. Dont we need to change some of the laws that may that were went to protect the mentally ill but end up in endangering innocent citizens . Thats a very fair question. I would argue that we need to use the laws we have better. If someone is a threat to themselves or others, they can be taken off the streets. We do that routinely. I think there are scenarios where we can do that. To get people off the street and keep them off the street, you need an intense level of engagement to win them over, to get them convinced. Weve been able to do with that several thousand people. The fact is were training our police now to work with social Service Providers to get out there and more aggressively and creative get people off the street. David mayor de blasio, this is gary, from very low tax florida. I do understand and know your mantra about taxing the hell out of wealthy. But dont you think your tax plan also taxes the hell out of people that want to become wealthy as they move up the ladder. Every time they move up, theyre getting taxed more and more. If thats the case, arent you worried that eventually were going to start running out of wealthy and youre going to end up not getting anything from anybody . No, gary, i appreciate the question. Look at my plan, tax the hell. Com. All the details. It is real simple. If youre a working class person or a middle class person, your taxes are not going up. Were actually asking for folks who have done very well, again, often with the help of the federal government, to pay their fair share, and thats how were able to make some of the investments we need in this country. The irony is what im calling for, is what was the reality under eisenhower and kennedy, and it works. Im not by any means i dont want to see any greater burden on working class or middle class people. I think they have been taking it on the chin for decades. If you ask people in this country, do you think the federal government is working for you as a middle class person or working class person, or do you think the federal government is working for the wealthy . You would see clearly americans across the spectrum think the wealthy are getting a free ride from the federal government. That has to change. That doesnt create a strong country and a unified country if people think only a small percentage are getting real help from the federal government. David you know, you mentioned john kennedy twice now. Yes. David john kennedy was the one who said a rising tide lifts all boats. Okay . He was a big tax cutter. He cuts those eisenhower tax rates very dramatically. He had a growth spurt as a result of that. A lot of people say thats whats happening right now. For the first time in my lifetime and i know your lifetime, as well, we have more jobs than we have people looking actively for jobs. 1. 6 million more jobs than job seekers. How can you suggest that its a bad economy, when the jobs market is so good . No, i actually would not say it is a bad economy per se. It is a very good point to say economy versus quality of life. Ive talked so many people around the country about the life they are living, and for so many people, its filled with debt im talking about middle class people. You used to think middle class meant secure. They dont feel secure any longer. They have a ton of debt. They have often a lot of challenge dealing with healthcare bills, again trying to help their kids. How Many American young people in their 20s living at home right now . This is a massive phenomenon because they cant afford to live on their own. Families are trying to help the next generation, but it is a struggle. It is not about a quote unquote bad economy, it is about a quality of life. David you have to admit the job situation is very good. Im happy about it but i want it to be better, a country that works for working people. Ask union members, ask working class people, middle class people, is this the quality of living they aspire to . I think you would hear a lot of people across the spectrum ideologically say they feel stuck. They dont feel like the last decades they have been able to move forward. Were going to need more than a shortterm good economy to get through this challenge. You talked about the economy. We always talk about the economy. The concerning thing is whether this will be a sugar high, and whether this is going down after a little while. This is putting out a thought there. I agree with you. We dont need to agree with me on anything. Im happy to agree with you. The concerning though is still the economy, you running for president Going Forward, how are you going to make sure that the strength in the economy continues if you are going after the Corporate Tax rate . Im quoting. You just said it was simple. I looked at your website it is not simple when you are adding a wealth tax, income tax, inheritance, ceo pay ratio tax, wall street tax, to me thats a little confusing and i think to the average person too that could be the case. So how as you Going Forward should you be president make sure that you can maintain this when youre increasing the Corporate Tax rate and not really appeasing Corporate America and wall street . Okay. Well, i dont think any president is here to quote unquote appease Corporate America or wall street to begin with. You can parse my words, but we have a business audience right now. Respectfully it is an important construct. Im not trying to make any light of your words. I think it is important to recognize for right now for many Many Americans, i would say a vast majority, they feel exactly that the government serves wall street and big corporations and not working people. So im saying something different. When you look at that tax plan, you see it discourages the habit of massive ceo pay, for example, which by the way is a fairly new phenomenon in our country. It used to be ceo pay was a lot closer to the pay levels of average workers, and this country did pretty well with that reality. It discourages the kind of activity that creates more and more division. One of the things i talk about is social fabric. I dont think youre going to have a successful country and a country that is secure if people feel its only serving the few and if they dont feel in fact they can ever break out of that. So thats why i think the tax plan actually helps us to have a more unified circumstance. David mayor, we have more to go, if you dont mind. Mayor de blasio, what does he think about the mysterious death of Jeffrey Epstein. Coming up, 2020 democrat, we have another, john delaney is joining us for yet another interview. The full spectrum. David yes, the full spectrum of the democrat candidates, right here on bulls bears. Hmm. Exactly. Liberty mutual customizes your car insurance, so you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty with sofi, get your credit cards right by consolidating your Credit Card Debt into one monthly payment. And get your Interest Rate right. 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Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Lower a1c and lower risk of a fatal heart attack . On it with jardiance. Ask your doctor about jardiance. David 2020 democrat candidate mayor de blasio is back with us now on this special hour of bulls bears. There was a recent poll, im sure you saw it, showing you are the most unpopular politician right now in new york state, actually, theres a higher favorability rating for donald trump than for you right now. I mean, the question is, since most new yorkers think you havent done a great job in new york city, why should most voters think youd do a good job for the whole country . Look, i dont get lost in any particular poll. Theres been some polls that really do matter, theres one year and a half ago where i won 67 of the vote in new york city and four years earlier, 73 of the vote. Crime has gone down six years in a row. In the end, i understand that folks get a lot of information, some of it accurate, some inaccurate. They form a snap judgment, but elections are not about individual polls. Elections are about people learning about the whole person over time, and you have seen so many people who ended up winning who were the underdog to begin with. Its become actually quite normal. Theres a guy named in donald trump in the white house where a lot of people said theres no way he can win. We have to be real in the fact that any poll at any moment doesnt tell us much anymore. I ask the same question of every politician that comes on here because i think it is the biggest crisis we have, not climate change. We have 22 trillion dollars of debt. Trillion dollars yearly deficits. This year the first 550 billion of our tax dollars, we the peoples tax dollars is going towards interest on the debt that has been created by the politicians over the last 20 years. Where do you stand on that . And are you willing to stay youre going to do something about it . Yeah, im willing to say i want to do something about it because im someone who runs a huge city with a huge budget and has to balance it by law every year, and i do. I think the debts a real problem, but i would argue before we even get to a solution in the debt, we have to be a country that invests in things like infrastructure, because if we dont do that, we wont have the economy of the future to pay off that debt. So i dont think we have the ability at this moment to do what i would like to see us do in terms of paying down the debt until we first put our country op a stronger footing for our longterm economy so, mayor, im glad you brought up the last segment, the tax code, right, i think it is complex and convoluted, it benefits the wealthy. I think anything less than making a fairer system, you know, by making it a flat tax would be beneficial because im wasting tons of hours doing taxes. The wealthy will skirt taxes, you mentioned eisenhower and kennedy. What is the top issue for those in iowa . Thats the top issue for me, but im sure in iowa thats not the top issue. What are you seeing . What im seeing in iowa is healthcare, particularly in rural area. We have talked about how democrats have lost some ground in rural america. It is true because democrats are not talk about the bread and butter Economic Issues enough. In a universal healthcare approach that includes Mental Healthcare, thats music to the ears of a lot of rural iowans who want to get the kinds of services they havent seen in quite a while. Thats number one. The tariffs, i met with farmers in Webster County and green county, iowa, a few weeks back. And they told me i remember this vividly that they think they may never be able to sell to china again, soybean farmers. They may never be able to sell to china again as a result of this trade war and this tariff battle, and that is devastating. It scares them deeply. So we have got a situation now where folks are actually quite insecure about their quality of life and what their Economic Future is going to be, particularly in rural iowa. Those are the front burner issues. When i talk about things like dont you think the wealthy need to pay more in taxes . Thats a majority view. Thats not a view thats unknown. It is a majority view in iowa. Mayor, were hearing a lot from you and from some other Democratic Candidates about what people quote unquote deserve, whether its healthcare, education, whatever. We dont hear a lot about responsibilities and obligations. So do you believe that people have any corresponding responsibilities, for example, on healthcare . Do they have the responsibility to eat healthy, exercise, not smoke, not take drugs, etc. , if theyre going to get something in exchange for that . Look, believe in individual responsibility, and again, as a chief executive, and i run the largest city in the country, this is a job thats often been called the second toughest job in america. So if youre an executive, you absolutely believe in individual responsibility. I try to give every opportunity possible to people in this city to do better for themselves and their families, but theyre part of the equation too. They have a responsibility to help make their community strong, to do right by their family, on a host of levels. Now, i dont believe were going to go into everyones home and say, you know, how much sugar did you eat today . How much fat did you eat today . Not that level. We sure as hell though can create a Healthcare System that focuses on Preventive Care and primary care. This is one of my number one, just human concerns about the american Healthcare System that makes it harder for tens of millions of people to get care when they need it. I want to encourage people to go to the doctor as soon as they feel there might be a problem, not to wait, worrying about it is too expensive, too many deductibles, i think thats when you say yes, individual responsibility but lets create something thats usable for people. Does that mean youre saying healthcare for all . You mentioned Preventative Care and primary care. How are you going to pay for both of those . Yes, i do believe in healthcare for all because in the end, look whats happening in this country. We have a huge number of people with no insurance. Tens of millions of people have insurance they cant use effectively. We have things that are mythological like dental care that a huge percentage of americans cant afford. I believe were the greatest country in the world. Im happy to say that. People should be able to get dental care, Mental Healthcare, a universal system but our system is very different from the other systems around the globe that do have universal Healthcare Systems. You cant just implement it when things work completely differently here. It will cost a lot more, and i still dont think any democratic member right now or candidate has proposed a plan that can fund that Going Forward because it is so incremental and it is something you need to think longterm which often unfortunately politicians dont do. True statement, and true statement that america is different. Were going to have to have an american solution. And true statement that it will inherently be incremental, but i start with a clear view that a single payer system is the only way to wrap all the pieces together. Look, we have got great hospitals, great doctors. That continues with a single payer system. The single payer system is where does the money come from . How is it distributed . David thats the question. It is also a lot of money. Bernie sanders agreed that it would cost between 30 and 40 trillion dollars. That would double just about double the federal budget. I mean, thats a lot of money. Thats over ten years, but thats 3 trillion dollars extra every year. Thats only one program. You also have the universal income idea. You also have free tuition idea. Thats a lot of money. How do you pay for it . For the record i dont agree with the universal income idea, but i do agree that right now you have folks who are spending a huge amount. Family by family, remember a world of premium deductible, copay, out of pocket expenses and then all the things that arent covered and all the horrible diseases that people cant find any way to cover. Thats America Today for tens and millions of middle class and working people. Thats not what we should aspire to. Point one. Point two, how do you pay for it . I believe if you take all that piece out of the equation, folks would be willing to pay a legitimate tax and think i dont have all the other costs and i break even or do better, thats okay. David i want to switch gears a little bit. Jeffrey epstein was extraordinarily strange, a lot of parts to this that most americans want answers to. I know he was in a federal jail. It wasnt controlled by the city itself, but the city has involvement in it in a lot of these federal jails what is your opinion about what happened . How it is being investigated, etc. . This is way too convenient. This makes no sense. Hes one of the prominent prisoners in america, at that point. He had either attempted suicide previously or been assaulted. Either way, it is the same reality. He needed to be watched 24 hours a day. It is one of the premier federal facilities in the country. It belongs to the justice department. This is come on, how on earth do they miss this . What are you implying then . I have been saying all week, im not a conspiracy theorist by nature. You are saying too convenient. What does that mean . It means that sometimes you see a series of events that you cannot give a normal explanation for. [inaudible]. The attorney general has said theres going to be a full investigation. He looks pretty ticked off about it. Thats good do you believe he will get to the bottom of it . Or does more need to be done . I want to believe, but i think all americans would be comfortable if theres an independent element to the investigation. More importantly, the folks who were victimized by epstein deserve a fuller investigation of the bigger picture. And, you know, we think dozens and dozens, maybe hundreds of people could have been involved in that. That investigation does not need to die with epstein. In fact, it needs to be reinvigorated so there can be justice for them. David do you think it is possible that one of the very important people that have been suggested have involvement in the Jeffrey Epstein affair and all of his misdoings may have had something to do with his death . Im going to say it a little more simply from my point of view. The one thing i do not think is possible here is pure tradition human error, some guard fell asleep or someone didnt cover their shift. Thats the one thing i would rule out given the prominence of the case and the nature of the situation, which means Something Else happened. I dont know what that Something Else is. But it needs to be investigated. David mayor, weve only just begin, but it is over. Im sorry. We were on a roll. David please come back and see us again; all right . I will. David we can disagree without being disagreeable. I think we proved that today. Coming up, former democrat maryland congressman and 2020 candidate john delaney responding to bill de blasios plans to tax the hell out of the rich and who he says is winning the battle between democrat progressives and moderates for the future of the party. He joins us on all that and a lot more, coming next. Why accept it frompt an incompyour allergy pills . E else. Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Who used expedia to book the Vacation Rental which led to the discovery that sometimes a little down time can lift you right up. Expedia. Everything you need to go. But dad, youve got allstate. With accident forgiveness they guarantee your rates wont go up just because of an accident. Smart kid. Indeed. Are you in good hands . David our next guest made headlines when he blasted what he called the progressives quote fairytale economics challenging spend policies and tax policies from warren, de blasio and sanders at the last democrat debate. Hes also called medicare for all political suicide. Former maryland congressman and 2020 democrat candidate john delaney is joining us now. Mr. Delaney, good to see you. Thanks for being here. We have the two ends of Democratic Candidates here. You heard earlier this hour bill de blasio outlined his plans to tax the hell out of the rich, 33 billion dollars medicare for all plan, and hes also for adopting the 93 trillion dollars green new deal. Your response . Well, listen, i think the mayor and i are actually trying to achieve many of the same things. I just think my ways forward are more practical. I have Real Solutions. Some of these things people are running on are impossible promises or dont make any sense. I think we need to create universal healthcare and need to deal with climate change, but they need to be Real Solutions that actually work and will allow our economy to continue to grow. Real solutions, i love that. This is christina partsinevelos, thank you for joining us. Sure. I want to focus on the Real Solutions and the economy. Given the economy has been growing so strongly, you and i quote in a recent interview have said that havent seen an up tick in Economic Growth that was promised. What did you mean by that . How do you plan to go forward to maintain the Strong Economy . That quote was in the context of the deficits which we saw were announced this morning reaching economic levels. The Economic Growth that was promised in the tax cuts really hasnt the earlyized in terms of material lized in terms of translating to the bottom line in the United States of america. I think whats going on with the fiscal trajectory in this country is terrible and we are leaving our kids debts that they cant repay and i think we need to get our act together. This is carol roth. How do we go about paying for those . Tell us your plan. I think we need to have a form of universal healthcare where every american has healthcare as a right. We have universal healthcare right now. It is called emergency room. If someone comes to the emergency room, they have to be taken care of by law and the most expensive place to receive healthcare. Whats different than the single payer medicare for all bill, which i think is terrible policy and also really bad politics, i would create a universal Healthcare System that goes as follows. I would leave medicare alone because it works. People like it. Its a good program. Then id create a new program that you get from when youre 65. It would be a basic package of federal guaranteed healthcare. I would roll medicaid into that because medicaid is a terrible program right now. But if you didnt want your federal healthcare, you could optout and get a tax credit. And you could use that tax credit to buy your own private Health Insurance. You could turn it into your company and they could use it as part of buying the Health Insurance they give you, or you could give it to your labor union and they could use it as part of the Health Insurance they provide you. And id pay for that whole system by getting rid of the corporate deductibility of healthcare because right now thats big loophole in terms of the way our tax code works, thats about a 4 trillion dollars loophole. That plan i just laid out is fully paid for. It would give every american healthcare. It would allow for a robust private market to kind of float on top. It is very similar to the german model for healthcare, but its not a single payer Healthcare System. Congressman delaney go ahead, kevin. Its kevin kelly, one of the things we havent touched base today on is actually china. And we saw the markets do really well today because it seemed to be a temporary truce, but that doesnt actually ease whats going to happen in the future. We think it is in the National Interest to try to figure out how do we address stateowned entities, right, and how they are dumping into the markets. Were actually worried about, you know, the buildout of 5g using huawei products what would you do to address the chinese situation right now because the Current Administration is having a hard time negotiating. The first thing i would do is get us in the Transpacific Partnership which i think was a huge mistake that President Trump tore that up. I think it is a huge mistake that all of the other Democratic Candidates im running against dont support it because i think if you want to deal with china, you have to compete with them. The best way for us to compete with china is to be in the Transpacific Partnership and that would give us access to the asian market in a much better way than we have now and be able to bring it to china. I also think we need to build a coalition with all of our allies and quite frankly get u. S. Companies more on the same page and really present a unified front. You know, the way i describe china is they act like pirates. They kind of steal everything. They steal intellectual property, stealing islands in the south china sea. You talked about what they do with currently manipulation which is a form of theft. The only way you can deal with them is compete with them successfully as possible and you have to be in the tpp to do that and get your allies and u. S. Companies on the same page. U. S. Companies get picked off individually and we need to get them under the tent. This is gary, congressman. Before the debates i read there was a gentleman by the name of john delaney, a businessman that was running for president. I was thrilled, hoping we would get some sanity at these debates. I looked you up. I studied you. Youre what makes america great. You started businesses, created wealth, made money beyond all your imagination. Then i see you want to do a 4 trillion dollars tax, a climate tax and then redistribute 3 trillion of that. Im thinking to myself wait a minute. Im trying to convince you, the greatness of this country is you and the people, not the government moving the pieces around like a chess board and im just hoping you think about this a second time. Your thoughts . Well, two things, its actually a 3 trillion dollars carbon price, and we distribute 3 trillion back to the American People. So its completely revenue neutral. What im proposing is you put a price on carbon, which will discourage fossil fuels and it will make Renewable Energies more competitive. So its a marketbased mechanism of changing incentives. But we take 100 of the revenues that are collected through the carbon fee. It goes in a lock box, and it gets distributed to the American People in a dividend. So from a tax perspective, its completely neutral, but it changes behavior because i believe Market Mechanisms really do change behavior. When you put a price on something, it becomes less attractive and people use it less. It creates an opportunity for renewables and alternative Energy Sources to be competitive. Thats the government changing behavior, number one. When was the last time government took in 3 trillion dollars and doled out 3 trillion . Usually the bureaucracy will take 2. 7 before it gets doled out. Bingo. Yeah, but, thats youre imagining something that might happen that doesnt have to happen; right . We can write a law, and the law can be very specific that the money goes into a lock box, and it cannot be touched by the government. But mr. Delaney, forgive me for interrupting, but the last you know, youse these phrases like lock box. The last time i heard that phrase, it was applied in Social Security administration. Our money was supposed to be in a lock box when in fact what happened is politicians went into that lock box, stole our money money, used it for other things. They put ious that will never be put back. We love the fact that you understand the difference between a business and the government. But you use these phrases and have hopes thats never been fulfilled. Thats not true. I understand what you are saying about Social Security, but the Social Security law was drafted to allow the government to do what its doing. That was the problem with that, and a lot of states actually have these lock boxes; right . So for example, in a lot of states, the gas tax goes into a dedicated lock box, and the legislatures cant touch it. The money can only be used for transportation projects. So we all know i mean, you study markets. I study markets. You can create a system so that the money is walled off and it doesnt actually put the legislatures david yeah, i dont know, you can say you can create a system like this. I have never seen it followed through. Let me answer your question. David go ahead. Go ahead, john. So look, if we put a carbon fee in place, we collected all this money, we dividend it back to the American People, if politicians took that money and the american citizens didnt get their dividend, i suspect not one of them would be able to show up for work the next day. David i dont know. Im not that worried about it. Carol . Right now the economy we know is humming along, but were certainly late in the business cycle. Bank of americas actually projecting theres a one in three chance that we could be in a recession as early as end of next year. So how would you manage the economy if you were elected president in the middle of a recession . Well, so the way i think the economy should work is when you have a lot of Economic Growth, you should be paying down your debt, and your deficit should be low, and then when you dont have a lot of growth, thats when Government Spending kind of offsets, so it becomes countercyclical. The problem is what we have right now is we have a pretty good economy and deficits are soaring. That is going to in fact tie the hands of the next president. I think one thing we need to be doing that would be good for the economy and good for workers and the American People is a big Infrastructure Program. You know, a trillion dollars plus Infrastructure Program thats paid for the right way because i think that would be a nice counterbalance when the economy ultimately slows down because it will. None of us know when thats going to happen. What worries me is how big these deficits are in light of whats generally considered pretty good economic numbers. I think thats putting the future in a tough spot. You say pay for it the right way. The last time you were talking about infrastructure. You were talking about changing the Corporate Tax rate to pay for it. Yes. Is that still your plan . Or do you have a different strategy . Look, i dont think the Corporate Tax rate should have been cut to 21 . I think it should have been cut to 25 to 27, right . Thats what the Business Community actually asked for. The Business Roundtable asked for 25 . No one asked for 21 . I would get the Corporate Tax rate back to 25, 26, 27 percent, which would make us competitive around the world and would fund a trillion dollars Infrastructure Program, and i think we would be much better off as a country. To that point, this is christina again, i want to talk about the infrastructure. You had gary mentioned the 22 trillion dollars. You have said in the past and on the show too that we should be focusing on healthcare spending, but then you have just now mentioned the Infrastructure Spending plan. So to me that sounds like a lot of spending and still not addressing the fact that like you said the economy is great but our deficit keeps climbing high and our debt 22 trillion, please explain it to me. So, you know, let me tell you how i look about the deficit and the debt. I think our deficit should run at 2 of our economy. It shouldnt be 0, but it shouldnt be greater than the rate of Economic Growth. If we could have longterm deficits of minus 2 , i think the economy could grow 2 1 2 plus and our debt as a percentage to the economy would go down. I think you can get to it 2 with some additional revenues and by doing things to control healthcare spending. I think if someone running for office is talking about infrastructure or any of this stuff, they need to tell the American People how they are going to pay for it. Congressman delaney, i was a little confused. You just said you would raise Corporate Taxes, and i think that would devastate small and mediumsized businesses who have been the biggest beneficiaries of this tax cut. All the large multinational corporations were running tax schemes like double dutch irish and werent paying fair and balanced tax rates, right . So i would think they would get hurt. The reason why, they would take 25 , 27 , they would have taken anything because we had one of the highest Corporate Tax rates in the world. The 22 rate we have right now is actually on the worldwide average. So i just want to know, what is your tax plan, you know, independent of infrastructure . So first of all, i dont agree with what you said there. Most small to mid sized businesses are not Incorporated Entities and dont pay the Corporate Tax. Lowering the Corporate Tax rate didnt have that much of an effect on them. Secondly, if you look at where we are in terms of the average rate thats paid, cutting the rate down to 20 put us below our competitors. Right . Because thats the one thing about the United States. Even when we had a 35 rate, which was absolutely the highest in the world, our effective rate was in the 20s which made us competitive with other countries. Thats what the Founding Fathers wanted, they wanted low taxes, if were below the worldwide average, thats great, in our core fabric of the country. Right, this is the thing, everyone should acknowledge that, you know, taxes arent good for Economic Growth. But we do need tax revenues to pay our bills. Right . So you know, in a perfect world, we would have no taxes of course. We would live in a fairytale. David you dont want taxes that are going to drive corporations out of the country, and thats what we used to have. I understand you dont want to bring them back up to that level, where the Companies Might go to ireland again, but i just want to ask one question about another kind of tax, and its a new tax thats being proposed by liz warren and mr. De blasio who was just here. Thats the so called wealth tax. It is a brand new it is not an income tax, not a property tax. It is a confiscation tax. This would be a tax on the personal property of people who have already paid taxes on what they have, on their personal property, 2 , 3 . It varies. But it would essentially be a confiscation of personal property. Are you in favor of this brand new kind of wealth tax . No. And the reason im not in favor of it is because a, i dont think it is constitutional. And b, the countries that have had it have largely backed away from it because its almost impossible to implement and enforce. So i dont think its a practical solution for raising more revenue for the treasury. David yeah. It is one of these impossible promises that i like to talk about. I will tell you what i would do to get more revenues from wealthy americans because i think we need that. David quickly. I would make the Capital Gains rate equal to the ordinary income rate. The last president to do that was reagan. I dont see any reason why people who invest for a living pay a lower tax rate than people who work for a living. You know these people. I know these people. No one would sit on cash because their Capital Gains rate is the same as the ordinary income rate. Thats a ridiculous myth thats been spun to the American People. Thats a practical and real solution to get more revenues from wealthy americans, and its there at the end of the day because does anyone actually think that people who invest for a living should pay a lower tax rate than people who work for a living . David very interesting. Were going to ask delaney what hes going to do to tackle immigration and the crisis on the border and more. Thats coming next. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. Fun fact 1 in 4 of us millennials have debt we might die with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. You can get your Interest Rate right by locking in a fixed low rate today. And you can get your money right. With sofi. Check your rate in 2 minutes or less. Get a nofee personal loan up to 100k. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Yes howd you know . Studying my playbook . Yeah, actually. From the 5am wakers, to the 6am sleepers. Everyone uses their phone differently and in different places. Thats why Xfinity Mobile created a Wireless Network that auto connects you to millions of secure wifi hot spots. And the best lte everywhere else. Xfinity mobile is a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy an eligible phone. Click, call or visit a store today. David 2020 democrat candidate john delaney is back with us now. Well, the Trump Administration announcing stricter enforcement of a 1999 ruling that makes it harder for immigrants on welfare to get and keep their green cards. The move is meant to save taxpayers about 2 billion dollars a year and to discourage immigrant who come to america looking for a handout. Congressman, is this a good idea . No, i dont think its a good idea. I think what we should be doing is doing comprehensive Immigration Reform. Thats what this country so desperately needs, which is a very large reform package that deals with border security, reforms our visa programs and creates a pathway to legal status to the 11 million undocumented immigrants in this country. Every time someone comes forward with like, you know, what the president just did or what some of the other democrats running for president have talked about which is decriminalizing the border, all that stuff is a distraction from what we really need to do, which is to get back at the table and get comprehensive Immigration Reform done like we almost did in david why is this idea a bad idea in your eyes . I mean a lot of people would say we dont want immigrants who come here for a handout. Listen, theres 11 million undocumented residents in our country who are contributing to our economy. Theres a lot of green card holders who are contributing to our economy. And i think they have the rights that the president s trying to take away from them, i think they have a right to those things. Congressman, we actually heard from mayor de blasio that he thinks one of the Main Campaign issues out there, and i would like to hear your Main Campaign issue that you are hearing out there as well, but he thinks it is healthcare. One of the things he mentioned was, you know, medicaid for all or healthcare for all, but i dont think that could get the democrats to win in the general election against President Trump. What are you hearing as the main issue for your constituents that you are trying to get in the field . Healthcare is a big issue. Things like drug prices are way too high. We need to deal with that. Creating some form of universal Healthcare System with choice, we need to deal with that. We need Real Solutions. Some of these candidates are running on things that not even a majority of democrats in the congress would vote for, let alone using them in the general election. One issue i hear about in places like rural iowa is how many communities arent really seeing Economic Growth. The Economic Growth in this country is very concentrated in a handful of places. You know, last year, 80 of the Venture Capital was invested in 50 counties in this country out of 3,000 counties. So in about five or six big cities, youre getting a tremendous amount of Economic Growth, but in small towns around america, particularly in the heartland, theyre shrinking. Theyre aging. Their Healthcare Systems are coming tremendous pressure. Their Public Schools are coming under tremendous pressure. Weve got to do things to make sure Economic Growth is more broadly distributed geographically in this country. This is gary again. During the debates, we heard nothing about rugged individualism, hard work, keeping what you earn. All we heard was youre a victim. Your lot in life is where it is is because other people are rich and the big corporations are screwing you. I just want to know is there anything thats going to come out of the Democratic Party that defines we the people. It used to be the people run the country. It seems everything out of your party right now is the government has to run everything. It is another program. It is another tax. It is another something over the peoples head. Are you going to take the mantle and do something about this . What i said on the debate stage in detroit. I kind of showcased detroit as a city that is now turning it around. Why is it turning around . Because the private sector, the government sector, and the Nonprofit Sector are working well together. And thats how we achieve the best outcomes in the country, not when were fighting, but when were working well together. It is one of the reasons i have called for National Service because i think our country needs a whole kind of transformative almost cultural change in terms of the responsibility that individuals believe they owe their country and we owe to each other. I think National Service where everyone who graduates from high school serves their country, either in the military or by doing Community Service or by being a part of an Infrastructure Program so that people are really serving their country. That would stay with them forever. They would have a sense of responsibility. And they would also realize were all in this together because i actually do believe in this notion that united we stand. And one of the big issues i have with the president is hes divisive. I think a president should be reminding the American People that this notion that were all in this together, that thats the beating heart of who we are. And embedded in that is a notion of selfresponsibility. And what you owe your country. If you fulfill those your end of the bargain, your country should give you the opportunity like ive had. Im the first in my family to go to college. My dad was an electrician, but i grew up in a time where if you worked hard and played by the rules, you had opportunity. I think we need to get back to that. It is a twoway street. David go ahead, carol. A shoutout because my father was an electrician too, local 134, sharing that moment here with you. In terms of whats going to happen Going Forward, right now you dont have the poll numbers to qualify as it stands today for the next debate. So why do you think that youre polling so low, and if you dont qualify for the debate, what happens then . Well, you know, theres two debates coming up which have the same standards, the third and the fourth debate. We think well make one of those debates. So were focused on that. And this is what i think is going on right now. I think theres four or five candidates that are basically getting all the attention. I think thats going to change because i think some candidates will drop out. I also think with each passing day, the voting base becomes more moderate to some extent. And im a more moderate candidate. I quite frankly think that we have allowed the extremes in each party to hold this country hostage. Think in the Democratic Party, early on it was kind of dominated by activists. Each passing day more and more kind of average americans who dont pay that much attention to politics because they are raising their family or dealing with their job or business are starting to dial in. Those kind of democrats are really my kind of democrats. They want someone to solve problems. They want someone to dial down the noise, and they want someone who has common sense who wants to get things done and build a Better Future for their children. Thats really what im running on. David john delaney, it is a pleasure to have you here. Once again, i know you faced here some pretty hard disagreements, but we appreciate it. We think you can disagree without being disagreeable, thats the purpose of having you here. Mayor de blasio as well. We hope that the folks out there love this session as well. Its not the last. Were going to try to do it again. This special hour of bulls bears is over now. What a difference a day makes. Stocks acrosstheboard roaring back after yesterdays blistering selloff, fueling the rally. The Trump Administration said it is diamondback tariffs on chinese goods. But on the ground in hong kong democracy protesters shut down the airport for the second straight day. Things turned violent with Security Forces began filing beanbag rounds, teargas and wielding batons. Now, to the battle for the border back here in the u. S. Senator Chuck Schumer wants the Trump Administration to drop its request for 5 billion for a border wall. Redirect that money