Mary, what does ill tell us it tell us about the economy . Mary i think its good news and what we had to say in all of this is we are not getting back to february any time soon because unless we have the virus basically solved, there are lots of economies that are not going to open and the fact that we are doing better than just threading water here, make gains, thats good news. In the in the half halffull camp i would say theres less momentum. We had better momentum in june and may and we are still down 13 million jobs and as we try to get below 10 unemployment, now at 10. 2, thats where it becomes more difficult to restore those jobs short of a vaccine. Paul jason, it would seem on marys momentum point that the flareup in the summer to have virus in the south and South Western States did seem to slow the growth of of jobs, you did see a lot of restaurant jobs, a lot of Leisure Hospitality jobs come back but theres still millions that that are on the sidelines. Bill yeah, striking in the initial surge of coronavirus in the spring we lost tens of millions of jobs, we had the surge in the summer, millions of new infections but it hasnt led to a surge in unemployment in the same way. In fact, some jobs are coming back, despite all of the cases we are still seeing jobs come back and now the cases are starting to decline so maybe thats going to give some of the momentum that mary is talking about Going Forward if the declines continue. Paul bill, the lesson that i take away here is that the the key to to really getting a much more robust recovery is one, getting rate of infection down so that people so that politicians dont willy nilly dont shut down the government again and average people say you know what, i feel safe going back to work. Bill absolutely, look, we are still the goal needs to be to get the economy running on all cylinders and we are far away from that and then you watch Congress Kind of fiddling over this stimulus package that has nothing no real progrowth element. I guess you could call payroll tax a bit of a progrowth but its very, very small. The key is to get people back to work and as you say make them feel comfortable. We are in a very different situation from when the virus first broke out. I mean, we know a lot more, we can manage risks better, but i think our political apparatus is not moving as fast as we need to encourage business and encourage people to get back to work which is the only real cure for a lot of people that are struggling out there. Paul mary, do you agree with that, with bill that the politicians are holding us back . They would say wait a minute, we need to close bars and restaurants down because otherwise we wont slow the infection curve . Mary i think they are walking a difficult line because if they dont get people to wear a mask and social distance and so forth they do run the risk of big outbreaks, but i think the thing that we need to focus on the most here is helping people basically get through this what is a pandemic. I mean, bottom line and that means as bill says, you know, doing things that help Small Businesses survive, lessoning the load of taxing and Regulatory Burden and doing what you can to help them run their business. People want to run their businesses, they want to survive this thing and thats where government could really lend a hand. Paul well, mary, do you think we need another extension of payroll protection plan, for example, which congress is considering or do you think that this payroll tax deferral that the president has been talking about would make a difference . Mary well frankly i dont like either one but if i had to choose one i would choose payroll deferral. The problem is there are two problems with large government packages. One is that you have to pay them back. The democrats talk about throwing more money at this problem, if its cost free and thats not true. Somebody is going to be on the hook for that and its going to affect our fiscal story Going Forward. The other problem is that as long as people are given benefits that disincentives them from going and looking for work, i think human nature teaches us that they are not going to look for work. I dont like to say that across the board. Plenty of people are looking for work and cant find it but you need to strike the right balance helping people that are in trouble and disincentivizing work. Paul all right, thank you all. When we come back, President Trump tries out a new line of attack against rival joe biden while the former Vice President reportedly narrows his list of potential running mates. We will have the very latest from the campaigigigig i like liberty mutual. 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Hes going to do things that nobody ever would think even possible because hes following the radicalleft agenda. Take away your guns, destroy your second amendment, no religion, no anything. Paul President Trump thursday in cleveland testing a new line of attack against democratic opponent joe biden with former Vice President leading in some key battleground states. The Trump Campaign this week launched a pair of new ads claiming biden has embraced the policies of the radical left, that messaging comes as biden gets set to name running mate in the coming days, so will his pick play into the president s new strategy . Lets bring in democratic pollster doug sean, he served as adviser to Mike Bloombergs president ial campaign. Doug, welcome, good to see you again. So tell us where the race stands right now particularly in those crucial swing states . Seems biden has a pretty clear lead . Doug yeah, he has 7 and a half, 8point lead nationally, about 5 and a half, 6 points in the swing states, michigan, wisconsin, pennsylvania and theres a clearly outside of market of error. Paul with that in mind, seems like the Trump Campaign is retooling its messaging and its rolling out these two ads and trying to make a consistent message that says biden has moved too far left to be safe for you to vote for. What do you think of that line of attack . Doug look, i think it is a reasonable line of attack that will help potentially tighten the race. In this environment, we do not want higher taxes, the ads that you alluded to quotes biden of saying, youre certainly right, i will raise taxes. That is a topic for swing voters, even swing voters so i think it will help, will it game changer, i dont know. Paul why not gamechanger . Why wouldnt it work . Doug i think itll help to tighten the race republicanleaning suburbanites, independents, theyll be impact but the president s ratings on coronavirus are so low now such as saying the country is headed in the wrong direction that i dont think taxes or potentially reducing Police Funding will be enough to paul gamechanger would be a, getting more control over the coronavirus which, b, would allow the economy to reopen more and grow faster, is that the potential gamechanger, the biggest factor in your view . Doug exactly right. The president has to make the case that we turn the corner on both the virus and the economy, a tough face to make now and the other engaged in, paul, is as you said the Vice President ial choice, it has to be somebody qualified. Paul okay. I think the debates are going to happen. Do you have any doubt that they will . Doug i only doubt that the number of debates three that im certain but, yes. Paul okay, all right. On the vp choice that youre saying that the most important factor will be somebody who appears to be able to be president if the president himself, joe biden, cant serve . And i would argue that this is a more important pick than any recent vp choice for precisely that reason given joe bidens age, do you agree with that . Doug i completely agree and thats why i think his only choice is Kamala Harris. Paul really . Doug yeah, shes a sitting u. S. Senator, she was a moderate and will help her with swing voters and she was air of confidence about her and everybody is either too far left and too inexperienced and real problem on Foreign Policy issue like susan rice has with benghazi. Paul what about the downsides of Kamala Harris, shes a coastal liberal . She came out for medicare for all at first. She was at first sort of a Green New Deal supporter. I agree that shes shown flexibility ideologically but but, you know, shes a california liberal. Wont the campaign be able to Trump Campaign be able to make hay with that one . Doug i think that all of the candidates are prospective candidates and raise real problems. I think she raise it is least amount of problems for joe biden and hes best qualified to govern which you said correctly is criteria. Every other candidate has real problems. Paul and you dont think that susan rice who is the former National Security adviser for president obama has the same kind of appeal because she seems to be also somebody that biden has looked at very, very closely in. Doug i think lacking any domestic experience, as we say in politics, having real questions about what she did about benghazi will create real problems for her and i think Kamala Harris is better choice and safer choice and more realistic. Paul thats interesting, doug sean, we will see if your counsel prevails in the Biden Campaign. Thank you for being with us. When we come back read joe bidens lips, 3 trillion in new taxes. 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Kyle sure, he wants to raise taxes in all marginal taxes, 39. 6 from todays 37 and he also wants to treat Capital Gains, for example, as ordinary income. He wants to raise the Corporate Tax on businesses to 28 from todays 21 and then he wants to apply a 11. 4 Social Security tax on all earnings over 400,000 which is a lot. Thats a huge tax increase. Paul well, because right now the Social Security tax is capped at 137,000 and change, so what hes basically saying is, thats a 12. 4 percent increase employer and employee on anything that you earn above 400,000, thats a huge increase on top of, of course, the regular income tax rate which he would raise to 39. 6. Thats huge. Kyle right, half paid by the employee and half paid by the employer, but if you talk to economists, they say that essentially its all paid by the employee, by the worker, because the the business is not going to pay that out of its profits. Its going to lower its wages and so essentially the whole of the tax burden falls on workers. Paul all right, mary, Capital Gains, i know you and i have followed this for a long time. What does it mean to raise the capital, tax on the sale of a acapital asset from the current 23. 8 top rate, 20 plus a 3. 8 surcharge up to what would be well above 40 . Mary, all i can say, paul, im glad that i [laughter] mary its risk taking. People take risks because they think they can make a profit so as you increase the tax on the gain, people start looking at that as saying is it worth taking the risk because even if i make money i will have to give a lot back to uncle sam and, you know, and in many states including new york and california there are state Capital Gains taxes as well and youre starting to keep an awful big take from the government on this game that you might make if you deploy these assets in something thats productive in the economy and i think thats, you know, the main problem with the biden plan is that it taxes the additional effort and risks that someone would make in order to increase productivity, so it discourages that action and that is not good for the economy. Paul it would be the highest capital tax rates since 1970s. Bill, joe biden would increase 21 to 28 , but of course it had been higher in mid30s under obama and the democratic point, the democratic point, its not a big deal, fairness, making corporations pay and most American Public public says as long as its not taxing me, go tax the company, what do you think . Bill right, we dont really know who pays those taxes. It could come out in price, it could come out in workers and so forth. The democratic argument is that theres no disincentive affects in raising cost of things through taxes and the dirty secret of joe bidens tax plan, whole plan, even with the estimated 3 to 4 trillion thatled raise raised and would not be enough for climate spending, infrastructure spending, thats not enough. He seems to be trying to copy the most dubious parts i think to the trump agenda, the America First tariffs and so forth and and having artificial incentives to encourage American Companies at the expense of others and hes completely ignoring the parts of the trump agenda that really work, the tax cuts and the regulation. Maybe this would be a winning political message but i dont think its going to help our economy. Paul kyle, let me ask you about the politics because i think the Biden Campaign is making a bet that, you know, tax increases really dont matter as an issue anymore but as long as he can promise that its not anybody under 400,000, people are going to say its not me, the guy behind the tree. Kyle i think thats true, and so this is a strange year. I think that this would be pretty politically, biden were running against a generic republican or running not in the middle of Global Pandemic but both of those things being true, i think they are betting that there are a lot of voters who may not sign onto this agenda but who might say, well, would i rather have this or four more years of donald trump. Paul maybe taxes arent as salient this year. We will find out. The battle over reopening schools as teacher unions and progressive groups stage a national day of resistance. We will tell you what theyre demanding before theyre willing to return to the classroom and to return to the classroom and why they want private schools to when you think of a bank, you think of people in a place. To return to the classroom and why they want private schools to but when you have the chase mobile app, your bank can be virtually any place. So, when you get a check. You can deposit it from here. 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These unions also lobbying political allies in the state to keep private schools closed in the fall if Public Schools do not open. Lets bring in genie alan, founder and ceo of center for education reform. Welcome, genie, nice to see you. Where do we stanton just take a look, picture for a second, where do we stand on the state of school reopenings, are most going open this fall . You know, most are not opening in person. Almost all are open remotely although theres lots of different variations of the definition. Paul, the teachers unions have ruined what is typically a really awesome time for parents, teachers and students to go back to school because theres no shortage of innovation available and there are schools and networks and organizations opening but they dont tend to be the schools that are in the control of the teachers unions and so boston teachers, massachusetts, california, new york, you name it are putting coo cobash paul is it the threat of strikes . I think its both. I think its the threat of strikes, look, we shouldnt demand that every school open necessarily in person, thats not what any of us want. What we want is school to happen and school can happen in a hybrid variety of ways, right, there are institutions like a lot of Charter Networks that are opening their doors in person and offering teachers and parents the options of virtual online, remote education and so what we want is flexibility, flexibility for districts, flexibility for schools, private, public, we dont want to tell anybody they cant do something, but we have to start school and so the fact of the matter is school is starting on time for awful lot of students most of them online or remotely but for those that are controlled by the institutions, they are not opening at all and they are not sure they can open because theyve done nothing to prepare and so who is doing it better those with flexibility and freedom which is exactly the teachers unions are demanding and get shut down or prohibited from growing. Paul are you confident that that you can actually open schools safely, that theres enough knowledge and awareness and preparation of how to do it safely and what would that involve . I am confident of that with a lot of caveats, right, and we have seen schools that have plans that are reduce and blocks, a small cohort when everybody else is online and schools in florida, charter usa schools saying we are going to open some in person and everybody else can watch from home, right, and follow along and then, of course, Online Education has never been its not strange we have been doing it for 20 years and can be done well and people may opt for that. Its not that its inferior, but i think that with the proper spacing, obviously safety, we see principals actually scrubbing and making sure people are scrubbing their own schools, there are air purifiers and so when we allow people to be creative, create their own options we see success. Listen, paul, the other thing we have to remember parents are not only outraged, they are seeing for the first time deficientcies. It should be excited and not awful. Paul are we seeing a surge in those kinds of schools, different parts of the country . We estimate 15 and 20 increase in applications of private, charter. I just heard from online providers just yesterday, 80 increase in applications and we have got to let that money go to parents so they can take advantage of the reduction. Paul how would that happen . The president has talked about. Secretary devos has talked about that. Would that require act of congress or can different states have the flexibility to do that . Theres two ways to do that, one is congressional funding that was distributed by the cares act which only 2 has been spent and with new money coming down the line, governors should be able to distribute micro grants. Thats extra money, of course. The other way to do this states have allowed themselves to waive laws regarding accountability and time which is what keeps people in schools, certain amounts of teachers. All of the stuff is gone, why cant we waive the zones. Paul yeah, thats an excellent idea. Thank you, jeanie allen, appreciate it. What we can learn from the bitter 6week battle over contested ballots in new york congressional primary. Whats going on in mark with the Carolyn Maloney, i think they have to have a new businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. And other Money Managers dont understand why. Because our way works great for us but not for your clients. Thats why were a fiduciary, obligated to put clients first. So, what do you provide . Cookie cutter portfolios . Nope. We tailor portfolios to our clients needs. But you do sell investments that earn you high commissions, right . We dont have those. So, whats in it for you . Our fees are structured so we do better when you do better. At Fisher Investments were clearly different. Absentee voting, great. But this mailin voting where they mail millions and millions of ballots to people, you will never know who won the election. You cant have that and nevada is a big state, its an important state. Its a very political state and the governor happens to be a democrat and i dont believe the post office can be set up. They were given no notice. You are talking about millions of votes. Paul President Trump this week stepping up his attack on mailin voting. The Trump Campaign announced tuesday that it is suing the sate of nevada over new law that will send mailin ballot to every registered voter ahead of the november election claiming the measure makes voter fraud inevitable. The president also calling for a revote in new yorks 12th Congressional District calling the election there a disaster. Longtime democratic incumbent Carolyn Maloney finally declared winner of the june 23rd primary this tuesday following 6 weeks of legal wrangling over recordnumber of mailin ballots cast during the coronavirus pandemic. We are back with Kyle Peterson and mary ogrady and jason willick. Jason, what do you make of the president s critic of mailin balloting . Jason its unfortunate that he wants to talk about fraud all of the time and sow doubt in the legitimacy of the outcome in a way thats going to just make people more polarized because underlying mailin voting there is a real problem. We know that going in to vote in person is more reliable, your ballot is less likely to be no problems with chain of custody, allow socalled ballot harvesting but the president wants to make it about fraud and the two sides are talking past each other and not making sure that we can have an election that goes smoothly and, you know, thats good for democratic legitimacy and transition of power this november. Paul the one thing ive had a hard time understanding, jason, distinction between nevada which the president says he opposes and florida where he says it works and its fine, whats the difference as you understand it . Jason well, one difference he mentioned that nevadas governor is a democrat and floridas governor is a republican so theres political interest going on there but theres also that nevada has less experience with it. States run elections in constitutional system and different states have different electoral differences and different experiences with it and theres a legitimate concern that changing procedures or doing something for the first time are going to have more logistical trouble than states that have been doing this for some time already. Paul kyle, you have doug in and read 400page trial district and i commend you for your patience in doing that but is this what happened there and and what does it tell us about the risks for november third . Kyle first new york has really relaxed valid deadlines and Postal Service says you should mail in a week before election. New york lets you request absentee ballot a week before the election. City officials in particular were unprepared for the ballots that they ultimately got so counting started late and then third the post office simply did not postmark apparently thousands of absentee ballots which arrived after election day and were thrown out. Thats part of the problem here. On monday a federal judge ordered that at least some of those ballots have to be counted. The state Officials Say they are going appeal and so here we are 6 weeks later and even though the winner has been announced, we dont have a final vote total in the race. Paul well, and so ask the issue incompetence basically . Its not fraud but just general incompetence and mismanagement, but that creates legitimacy problems of their own because as you see, the other democrat who is now losing, he doesnt hes not accepting the results. Kyle right, absolutely. One problem is the cochair of new york state board of elections testified that the board of elections has told the legislature that the 7day request is completely is is off the wall. I mean, imagine youre a new yorker and youre temporarily in florida, a week before the election you mail an absentee ballot request and takes 3 days to get there or maybe a day or two to get processed and you get your ballot the day after election day. They need to move the deadline back but because of political pressure they dont want to be seen as unfriendly to voters. Paul so mary, that 12 district that may be your your congresswoman, i dont know, but its what does this tell you about november third and what should states be doing to try to make sure we dont have a fiasco like that congressional race . Mary paul, let me just say that i believe in old motto that you shouldnt Pay Attention to them because it only encourages them, but in terms of the november the looming problem in november, i think jason is right that fraud is the lesser of the big problems. The big problem is that logistically the rules that they are setting up dont work as kyle described, but on top of that, i do think that it increases the potential for fraud and you hear this term ballot harvesting where apparently, you know, members of the party can go around and pick up ballots for people and, you know, that sounds very much like the kind of stuff that happens in venezuela when you go into a voting booth and somebody working in polling station and comes over to help you fill out your ballot, you know, these kinds of things have to be, you know, prohibited in any election thats going to be seen as legitimate. Paul jason, could we have an election month or an election 6 weeks instead of an Election Night . Jason well, i mean, in california in 2018 we did see races appeared to be called for one candidate on Election Night and several weeks later as mailin ballots trickled in as kyle said confusion over deadlines and postmarkings, we saw the results reversed and so i think its in everybodys interest. Its too bad that this is a partisan issue because its in everybodys interest that we have new president maybe not the night of the election but the day after and the day after that. We dont want a situation where we are going through the lameduck period and nobody knows who is taking over that. Paul thank you all very much. When we come back, microsoft is in talks to buy tiktok as President Trump signs executive order into banning the chineseowned company from the United States, so its is the popular media app a threat and does the Trump Administration deserve a cut of any potential discomfort back there . Instead of using aloe, or baby wipes, or powders. 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Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. He scores stanley cup champions touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. Paul President Trump on thursday signed an executive order that would effectively ban tiktok from the u. S. If it is not sold, the popular social media app has come under fire from the Trump Administration over concerns that user data will fall into the hands of the Chinese Communist party. Microsoft is in talks to purchase the platform in an effort to avoid the ban and finish the deal by september 15th. We are back with bill mcgurn, Kyle Peterson and jason willick. Bill, do you agree with the president s decision on tiktok and whats the justification . Bill yeah, agree with almost all of it except for the idea that the government should benefit by some money going into the treasury from the sale. That that really is potential for abuse. Look, let me explain the software to you. I have a teenage daughter and the way it works is they she and her friend get together and they go in the bedroom and giggle a lot and they come out with a short video and its usually popular, 2 billion downloads and i think 80 million daily users but the concern about data is is very appropriate. We know the Chinese Private companies cooperate with the government over National Security matters and if they want this data, theyll get it. So i think the president is right to be concerned. I think this is only the first of a lot of kind of similar decisions president s are going to have to make visavis china and Chinese Companies. Paul kyle, the other argument is that the bite dance, the parent of tiktok, not only would have to turn over data but communist government orders it but tiktok itself would have to censor and not allow certain conversations that were critical of china, for example, is that legitimate as an objection . Kyle yeah, i think its legitimate as an objection and i think thats less of a concern,less National Security concern. The military, for example, discourage Service Members from having tiktok on their phones and the worry there is i believe, you know, the app could pick up their locations or movements and potentially signal to china where, you know, American Army or navy units are at any given moment. I think thats a bigger concern that the censorship issue certainly. Paul jason, so you have the concerns about china but, you know, the United States has always been welcoming, innovative Foreign Companies and foreign investment, are we moving to an era here where a lot of these companies especially Chinese Companies are going to be banned from the u. S. Market because of the possible links to the communist party . Jason youre absolutely right. I mean, it has been welcoming to these companies and welcoming innovative Foreign Companies, but i think whats happening is the Trump Administration is saying, wait a minute, we need to have reciprocity. We cant just let in their companies and they ban facebook and ban and google, you know, ban our social media companies. So i think youre seeing the Trump Administration demanding reciprocity which is reasonable but it is a big step because youre starting to see the internet, you know, very important thing in all of our lives sort of fracture because china has different rules and expectations than we do that its looking like our two systems to have internet and telecommunications may be in incompatible because the values are so different around censorship and privacy. Paul google doesnt operate in china because they have to censor their messages, correct . Jason our common law, tradition, sort of privacy and corporations being separate from the government, but as we mentioned china has Civil Military fusion, that doesnt exist there. Everyone is expected to turn over information to the government that they need or they cant operate there, and so the Trump Administration is trying to make things more even. Paul bill, i want you to elaborate on your earlier point about microsoft having to give as the president has demand a certain part of the proceeds of any purchase from of tiktok to the federal government. You said that creates potential trouble, why, why, whats wrong with that . Bill yeah, well, in the first place its a for sale so microsoft is already probably getting it at a bargain price. I think that can be justified for National Security but if the president is going to say, we are going to take some money from this for the government, it gives it gives a real incentive for politicized decisions along those lines where you target a Certain Company or make it be sold and i think it diminishes our moral case against china because thats exactly the kind of stuff that china does. You ask our Tech Companies that are over there, thats exactly the kind of thing they do so i think thats a really dangerous precedent to begin with in washington to be kind of, you know, forcing a tax on these companies. Paul all right, thank you all, we have to take one more break. When we come back hits and misses of the week. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Weve always put safety first. And we always will. For people. For the future. And there has never been a summer when its mattered more. Wherever you go, summer safely. Get 0 apr financing for up to five years on select models and exclusive lease offers. She was not able to vote in her lifetime, but i wanted to honor all that she had done to ensure a Lasting Legacy of education and civic involvement. Im very proud to carry on her story. Time now for hits and misses of the week. Mary first to you. For donald trump. For announcing a tax increase on consumer this is week, of course, you can call it a tax increase although new 10 tariff on aluminum but passed on to consumer in product like whirlpool washing machines anything else manufacturing with aluminum not a good time to be raising taxes, donald trump. All right, bill. Paul, to youtube recently had mcdonalds and institute gave a speech on racism and policing to the center of the american experiment. When they put the video up on youtube, youtube first took it down. Ci then put it up with different kind of restrictions, and label it is that it was inappropriate. You know, sometimes contradicted to our pages and coming just a week after a big hearing in washington, this kind of auction helps explain why so many conservatives think big tech is xpout to cancel them. Jason. Goes to Congressional Democrats including representative tom of new york were pushing to restore unlimited state and local Tax Deduction in Coronavirus Relief package thats a reduction that primarily benefits high earners and blue and high tax cities and states. And it is just a lob over the plate for republicans who can paint democrats as a party of the professional elite and liberal rich. All right. Kyle. Ill give a hit to spacex in may sent up a rocket with two nasa restaurants at the International Space station now brought them hope safely splashing down outside of florida it is a monumental moment in history of space flight for spacex is driving force elon musk likes to talk about going to mars. And people roll their eyes but that goal looks a lot less starryhe eyed this week. Not a lot of good news, not a lot to celebrate, this, this Space Exploration is really something to celebrate. Thanks everybody and about are if you have your own hit or miss be sure to tweet to us at jer at fnc thats it for this weeks show thanks to my panel and all of you watching im paul. Hope to see you right here next week. Good evening everybody, well be talking with the president of the United States, donald trump here in just moments, live. I do want to set just a bit rft scene. This interview comes as radical dems try to indicate a nightmare for democracy pushing mailin ballots only safe way to vote during the about chinese virus pandemic also pushing as many left wing activist and anarchist as they can into the streets of america. Just when we thought that the with the china virus pandemic, that the radical dems would stand up or national sec