Transcripts For FOXNEWS The Journal Editorial Report 20240901

Welcome to the journal editorial report. After ducking the press for a month, vice president kamala harris gave her first interview with the campaign to cnn on thursday sitting down with tim walz in the battleground state in georgia where she defended herself from accusations she has flipflopped on key issues including fracking and immigration. My values have not changed. You mentioned the green new deal. I have always believed and i have worked on it that the climate crisis is real, that it is an urgent matter to which we should apply metrics that include holding ourselves to deadlines around time. We did that with the inflation reduction act. My value around what to do to secure the border, that value has not changed. I spent two terms as the attorney general of california prosecuting transnational, organizations, violations of american laws regarding the illegal passage of guns, drugs and human beings across the border. Paul: let's bring in dan heninger and bill mcgurn. Did you learn anything about the vice president's views? we came out of it with nothing more and that was the goal. When she has been specific like on her economic plan she has been blasted even by some members of the left. What she wants to look is presentable, personable and say nothing. It was a great success from the campaign point of view. Mission accomplished. Paul: my values have not changed. She said that more than once, clearly a practiced line to try to forge the idea whether she changed her policy views. What do you think that means? i have an idea what it means, it's like a cloud, the listeners are supposed to make of it whatever they will. One of the vaguest phrases, my values have not changed. She did fill in the blanks when she said for instance that she has always believed in cleaning up the climate and what they did in the inflation reduction act which is to set timelines and deadlines for doing so. After she said that, that answer was crying out for dana bash to ask followup questions about which deadlines you are talking about? most prominently the one about gaining gas powered cars and mandating people adopt electric vehicles because everyone knows there's pushback against buying electric vehicles for a lot of reasons. Harris's values are big government and enforcing mandates but it will require donald trump himself in that debate to ask those questions. This is since the press dana bash didn't do it. Paul: there's an airbrush quality about this candidacy, that she's been in office the last 3 and a half years, talk about a new way forward and the future. Let's get past, she even put it in that decade, the trump decade as if democrats had no role in that. Is she able to get away with this for the next two months? one of the words she uses this air of that trump had set off, never mind that the last 31/2 years has been entirely democrats and democrats engaged in very polarized governing and very polarizing proposals. She will get away with this unless the donald trump campaign begins to relay point out the policy issues and told her to that record. We have a president in office right now with a 40% approval rating directly related to inflation, border, gas prices, energy issues. She was part and parcel. That alone art to win donald trump the presidency but we've not had enough focus on that record. Paul: do you agree the opening that trump can exploit if he has lewitt to do it would beyond climate and the economy clearly dana bash didn't press her on any of that. I those openings? they are all openings. She's presenting herself as someone who she isn't. I kept my word. She's right at least half the time given she's been on both sides of the issue. As dan suggested the problem is normally we would say press corps wouldn't let candidates get away with is that but the short time schedule means that the debate with donald trump, don't know how many millions watch to the interview but 51 million tuned in for biden versus trump. That would be the big chance for donald trump if he is disciplined to hold her to policies and flipflops and has to do something hard, to be aggressive but not personal. He has to stick to the issue and use her own words as much as he can and not tell people she's a flipflop or to expose it. Paul: a couple big endorsements for donald trump. Did it make a difference? one's instinct, a lot of people saying it won't make that much difference because percentages are so small and in rfk's case because so many of his supporters were disaffected voters who may not vote. The fact is that the margins in states like georgia and other swing states is so thin that every vote does count. Rfk especially is going to support trump it is incumbent on him to produce turnout if he supports trump. And trump would invite him to do that. I am inclined to think it means more than nothing. This election is so tight. Paul: with election day two months away fox poll shows the race tightening in key sunbelt states. Mark and on where the race stands heading into the post labor day stretch. Yay woo hoo! ensure, with 27 vitamins and minerals, nutrients for immune health. And ensure complete with 30 grams of protein. (♪) when the sawdust settles and the engine roars the thing you care about is a job well done. But when you get your tools from harbor freight something about the job feels different your wallet. Whatever you do, do it for less, at harbor freight. ♪ what the biggest companies deliver is exceptional customer experience. 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Is kamala harris leading the presidential race in national polls and in swing states? i would say she has in the real clear politics average of two point lead in the polls which is maybe or maybe not what you need to take the electoral college. Most importantly, this is the time period right after the democratic convention and after what has been week after week of positive coverage. If this is the best she can do, her real top, this is not a bad position for donald trump to come back here, join the race, spend his campaign funds on trying to make it more of a two way conversation because it has been a 1way conversatio i don't think this is great news for harris. It's not bad news but she's 5 points ahead. Paul: better to be leading than trailing. What voter groups have come back to her who were not there for president biden? basic democratic core constituencies that were thrown for a loop after the biden debate and questioning whether biden could be president at all, whether they were black voters, women voters, younger voters, that has driven the race to more debt even position from what was a 5 point bleed. I always thought a lot of those figures that show trump winning showed core democratic groups jettisoning the party and that generally doesn't happen on election day. Paul: one of the things i see is donald trump is losing independents to kamala harris. That suggests an ominous trend. Is that how you see it? what does trump need to do to get those back? in these polls, trump is squarely winning even in polls where harris is ahead, winning the economy, winning immigration, winning crime. What trump needs to do is make this a race in which those issues are the ones that count as opposed to personality where she is certainly winning on issues of personality, she is tying on issues of leadership. She is seen as someone who can bring the country together more. He is seen more as a fighter and someone who will get things done. He's got to make those things the things voters think about when they cast their votes. If he does that he will win handily. Paul: isr survey showing three quarters of voters say they feel they know enough about kamala harris's views to make a judgment about her. Does that surprise you? it does surprise me. I follow this stuff for a living and haven't heard her explain what she really believes on a whole host of things. Is that an opening for trump to educate voters and say here's what she really believes? with any candidate at a 38% favorable and moves to a 48% favorable in a matter of weeks without any actual events occurring where people say that's a great job, that means those are what i call uninformed voters who can be swayed back if they see information. Americans are always definite about their opinions until they change their next day. Paul: what about the endorsements of donald trump by rfk junior and tulsi gabbard, former democrats, being advertised as such. Will they bring along any other voters? they are interesting and provide color and interest to the trump campaign, it's worth point, they had 5 points, those voters generally don't like either candidate. I don't know if tulsi gabbard is worth anything but she was very effective running a town hall and someone who can warm up trump in some way and be effective in debate preparation. I don't know that she brings any votes but brings some, a rarity where trump is willing to share the stage. Paul: who are the swing voters remaining? the undecided swing voters as often said the suburban collegeeducated republicans who don't like trump personally, like his policies or are they working class voters who used to be democrats moving towards republicans? the votes we still need to get? a little bit of a mix of those two groups. First and foremost they are economy voters. If you are really someone who's got an opinion on immigration you won't be voting for the harris ticket. Same thing on crime. Economy, which is the largest issue, voters who are oppressed with inflation, workingclass voters probably suburban men, the two key swings here, she's going to lose suburban women although they often voted republican. He's got a real chance to rack up suburban men and to rack up some workingclass voters and latinos whose number one concern is inflation and the economy. Paul: we will watch with interest. When we come back, 66 days to go. We will take a closer look at the highstakes battle for control of the senate as democrats kill the filibuster rule to push their top priorities into law. Known for lessons that matter. Known for being a free spirit. No one wants to be known for cancer, but a treatment can be. Keytruda is known to treat cancer, fdaapproved for 17 types of cancer. One of those cancers is advanced nonsquamous, nonsmall cell lung cancer, where keytruda is approved to be used with certain chemotherapies as your first treatment if you do not have an abnormal “egfr” or “alk” gene. Keytruda can cause your immune system to attack healthy parts of your body during or after treatment. This may be severe and lead to death. 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Paul: with only 66 days until the election the battle for the senate is heating up and the stakes cannot be higher with chuck schumer on changes to the 60 vote filibuster rule to pass his top priorities including major changes to the supreme court and sweeping legislation on abortion and voting rights. What can we expect if democrats keep control of the senate. We are back with dan heninger, and joined by alicia finley. Dan, this is big news because schumer is saying we have the votes. If we get 50, even 50 vote in the senate with the vice president, vice president harris winning, the vp can make that 51, laminate the 60 rule requirement, the senate becomes essentially the house. He is thrilled because he tried this once before. The reason he was stopped, democratic senators joe manchin and kirsten sinema voted against killing the filibuster. It is striking what schumer told nbc, quote, sinema and manchin voted no. That's why we couldn't change the rules. They are gone. This is hardball. This is something he wants. They talked about doing this for exceptions but there won't be any exceptions. They will change the supreme court. They could admit washington dc as a state which would give them two more senators. The kind of thing you would expect from mexico or venezuela, you can't lose. Having said that, recall mitch mcconnell when he was minority leader warned them if they change the filibuster they won't control the senate forever and it would be used against them. Chuck schumer doesn't care about that. He wants to break it when he can, ran through as much legislation and take the victories. Paul: schumer's priority is sheldon whitehouse, they said they would combine a bill with voting rights, abortion rights and supreme court reform. These would be sweeping national laws that impose abortion rights on all 50 states. Reporter: these are euphemisms. What they mean is codify row versus wade or go further. Voting rights, federalize elections, require all 50 states to play by california's mail in ballot rules, no voter id requirements, you 're able to submit an absentee ballot until the last day and be registered for voting on the last day, put the feds in charge of overseeing the redistricting all 50 states. Supreme court reform is not reform, what they want to do is packing the court. If they don't add another justice, they would add other justices, would they really want to do is impose these code of ethics rules on the justices and require recusal's, decide which justices hear which cases. Paul: that would compromise the independence of the supreme court. This is our real change in the mentality of senators. It's a body where members of the longstanding because of 6year terms they feel a certain sense that you need to have consensus to pass laws. They don't like being the house traditionally. They like to build coalitions but democrats say actually we don't. We want to pass legislation that is historic and in honestly significant. And the wood they hold out? the lack of belief they can when on their ideas. That's the part of parties. If you lost and election over the finish line, you acknowledge you haven't build a case for it, you need to modify it somewhere come up with a different agenda. The progressive left demands this. Of the public doesn't want it or got the barest of majority. They ram it for rule, is exactly what dan and alicia are saying. And they are designed to knockback the supreme court. They don't win fair and square. Todd: 1 i aren't republicans making donald trump isn't. Vulnerability for the democrats. Joe biden did recently say he's open to reforming the supreme court. Kamala harris should be asked, whether she agrees with joe biden the supreme court should be reformed. They should make an issue of it. Jack smith rare unveiling a new indictment with fewer than 70 days to go until the election. 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We are back with kim strawosse this is not going to trial before the election so why do you think he rushed this indictment out now? that's the question everyone should be asking. In light of the fact this is not going to happen before the election you have to assume this is in part done to remind voters of the charges that have been brought against donald trump in an election season. The department of justice have a long time prohibition against interfering or getting engaged during an active election season but here we have a prosecutor. I would note with superseding indictment that walks the barest edge of listening to the supreme court and following the supreme court ruling from the summer, almost as if he wanted to file something he has to bring all the way back to the high court again. Paul: the ruling was between personal acts that are not immune and official acts which are absolutely immune dealing with members of your own administration or presumptively some debate about what presumptively immune means. It means the burden of proof is on the prosecution to prove, how much did smith pare back the indictment? it is like i send something to you and you say the editorial doesn't take into account what i told you and i laid out some principle for you and sent back it never happens. Just a theoretical what would happen. It's a lot like that. Jack smith is the worst person to have this case. He is an aggressive prosecutor. The supreme court 180 for previous prosecution of the governor of virginia. He has the worst judgment for this. We know it is not about getting it done before the election because it is not going to get done. The great irony is he's accusing donald trump of abusing his office to affect the outcome of the election and i think that's that the charge a lot of people would level against him. John: the prosecutor did take the evidence about conversations with the justice department officials but one of the most interesting points, he did not take out the conversation with mike pence about the certification of the electoral votes and yet the vice president has a role in the senate but was also a key member of the administration. It strikes me that unlikely to hold up under legal scrutiny. The lack of humility in the superseding indictment is striking because it is one of the most complex questions that came out of the supreme court decision on immunity. Obviously mike pence at all vice presidents are two roles, they are an executive officer, one of the closest advisers to the president but also the presiding officer in the senate and even then it is very complex because as such they often can cast the final vote on nominees or other legislation, very important to the white house. Complex subjects. What the court said is the presumption of immunity when this comes to the vice president and it is on the government to prove otherwise. Jack smith trimmed it, changed a couple words to describe mike pence. Other than that left at it the way it was and that will likely go to the court. Paul: the way this will work as they will have a hearing. That is immune, that is immune, she will have to rule on that and trump will challenge if she says you're not immune and that will take months. This is decided substantially by the election. That's the way it should be. The american people don't know all jack smith's charges. They are not into the presumptive immunity but they know what trump is broadly accused of and what prosecutors are doing not only jack smith but state prosecutors. They don't like it. I think it is good in a selfgoverning society the end judgment will be the voters on november, on the election day. I think they've given signals they are not synthetic to this case. Paul: if he wins those charges go away. If not, there will be years. As a harris agenda comes into focus we will continue looking at plans for $5 trillion in tax increases and what it could mean for you. Rition, that's a huge relief for me and my dad. (sings) old bean piglet head yes that is your name. If you saw his piglet head you would say the same. Toot toot. Paul: as the kamala harris agenda takes shape we continue our look at her tax plan and the list of proposals the campaign has endorsed, over $5 trillion and put the top marginal rate on individual taxes to 44. 6%. What does this mean for american households and businesses? he is president emeritus and senior policy advisor at the tax foundation and author of what you don't know about taxes and how they rule your daily life. Welcome back. Last week we did corporate taxes, let's talk individual taxes. Take us the calculation how she gets to a top marginal rate of 45%. Her tax plan is in 3 parts. I call them success taxes. Taxes on successful wage earners, successful business owners, successful investors and she would raise the top marginal tax rate from 37% to 39%. She would increase what is called the net investment income tax like the obama surtax, 3. 8% to 5%. When you add that up it is nearly 45%, business owners apply the net investment income tax to wall business income for sole proprietors. It is a huge tax increase of small and successful businesses. Lastly, on successful investors, she would raise the capital gains tax from 23. 8% up to the top marginal income tax rate of 39% plus the net investment income tax, looking at capital gains rates of 45% before adding state rates. A huge increase on successful individuals, businesses and investors. Paul: you mentioned a combination of federal and state tax rates on federal income tax, you take a state like california where the top marginal rate, fewer than $100,000, 13. 3% or in new york city where it is something like 14. 6%. Talking about a 60% tax rate on every net new dollar you earn. Can you recall when we paid rates that high? you have to go back to the carter administration when the marginal tax rate was 70% and these are individual income taxes. You have to have payroll taxes. Top rate on high income individuals in the 70% range. Paul: there were a lot of exceptions built into it, people said i need the exception for this, this, and this. Taxes would be much higher. The tax on capital gains is important. Why should that get a lower rate? capital gains are taxed at the corporate level and you add on the capital gains rate paid by individuals, with total tax rate on capital in that instance? it would be one of the highest total capital gains rates in the industrialized globe, higher than denmark, sweden and so forth of that are very punitive to capital income. This is not including the tax on unrealized capital gains which is getting a lot of attention these days, this is a 25% tax on the combination of personal income, you pay 25% on that. Those unrealized gains to pay the tax which defeats the purpose. John: paul: usually pay that after a transaction and you have a profit and sell a home. If value of stock goes up in a year, you would have to pay taxes on that increase whether you sold stock or not, right a check from your bank account or sell another asset to pay for that? would you get to deduct losses if stock went down in a year? in 2022, the top ten billionaires lost 575 billion in net wealth. With they get to carry those? they haven't worked out the details. It is strange how progressive is hate unrealized capital gains. They want to turn everyone into her day trader with longterm gains and people investing for the long term. They are encouraging that or punishing it. Paul: john: paul: the revenue rate was 28% or so which means any rate above that, revenue for the federal government begins to fall because people change their behavior. What their justification if they get less revenue? in 1986 tax reform act, they did tax capital gains at the top rate. We see a 10 year hiatus on unrealized capital gains and not until tax cuts of 97 which lowered the capital gains rate is that we saw capital gains rise back up again and people start to realize those gains. Tax incentives matter particularly things like capital gains. Paul: when we come back, kamala harris is touting her housing plan as americans say homeownership is out of reach. Would proposals make buying a home more or less expensive? ut. So you can get back to your monster todo list. Really? get a quote at progresivecommercial. Com. Here's to getting better with age. Here's to beating these two every thursday. Help fuel today with boost high protein, complete nutrition you need, and the flavor you love. So, here's to now. . . Now available: boost max! paul: the harris campaign unveiled a swing state plan highlighting her struggle to own a home. I know what homeownership means. Sadly, right now it is out of reach, for far too many american families. Paul: a wall street journal found 89% think home ownership is essential or important to their vision of the american dream, 10% think it is easy or somewhat easy to achieve. Will her proposals, 3 million new homes and offering firsttime buyers up to $25,000 in federal assistance but more americans on the path to homeownership. We are back with dan heninger and alicia finley. You looked at all these proposals. What is her housing agenda? reporter: she is supporting more subsidies for housing so $25,000 in down payment assistance. Firsttime homebuyers qualified for a lot of down payment assistance, one% down payment on a lot of fan a, freddie or fha mortgages. This is another subsidy on top of that. The biden administration's plan for rent control nationwide which limit tax breaks for developers that don't their rates at 5 person. This would be the opposite of what you wants because it would discourage development in housing supply and supporting some easing of zoning regulations on the local level. Not clear how she plans to do it. This would be a vast federal takeover in local responsibly. Paul: that is 5% inclement on the 5% increase on rent each year. These are striking proposals because these are federal impositions on local markets. You put rent control on a local market from washington dc. How in the world do they know what's going on in that market? they are not going to know. When you do things like that what you end up producing is a lot of results that are opposite of your intention. There is reason to be leave that if you go down the road and do these subsidies you can end up with more housing shortages, higher prices, you can end up with all kinds of unexpected consequences. The real answer here is to stop washing the economy with money which has caused higher inflation rates but also higher interest rates and inflation and housing costs. Paul: these regulations usually mean forcing local jurisdictions to change their zoning laws to force multi family homes into singlefamily home narratives. It's the density movement. We want denser environments because we don't like cars for one thing so we want everybody to live closer together. It is an argument, they are pushing multi family homes and low income housing as well. The idea is to put this in the suburbs. Historically you get tremendous political pushback in the suburbs when you attempt this sort of thing. There's an argument to be had around density and so forth but they tried this in new york, westchester county, people in the scarsdale resisted. If it were elevated, this has been elevated by donald trump, it is a thing that could appeal to suburban voters in swing states because when they hear about it they usually don't like pushing more housing into their neighborhoods. Paul: this is $25,000 direct subsidy, where is this money coming from? it would have to be appropriate for congress but you could use the agencies, federal housing administration which oversees fannie mae and freddie mac to socialize these costs by making homebuyers pay for it at higher rates. Paul: just a huge new subsidy and entitlement. No doubt. This would be on top of other subsidies. California passed a bill that would allow undocumented immigrants to qualify so this would be broadbased new entitlement. Paul: illegal migrants would get these? potentially, if you read legislation under the build back better plan democrats proposed, it would open it up to people who aren't firsttime buyers as long as their parents don't own a home and they don't own a home the last three years so it's not just firsttime homebuyers. Paul: we have to take one more break. When we come back, hit and misses of the week. Syst em you'll know your glucose and where it's headed no fingersticks needed. Covered by medicare for more people managing diabetes with insulin. Visit freestylelibre. Us/medicare the ergo smart base from tempurpedic automatically responds to snoring. So, no more hiding under your pillow. Because this system actually detects snoring, then adjusts to help reduce it. Don't miss our biggest sale of the year, with savings up to $700 on select adjustable mattress sets. Since ♪ ♪ time now for our hits and misses of the week. Kim, you are a first request alaskans have been suffering real buyers remorse over a ranked choice of voting says and they were bamboozled into adopting four years ago. They worked hard to get signatures for a new initiative to allow them to repeal this fall but yet they have in the subject of a nasty law fair campaign by supporters of rank a choice of filing ethics complaints against signature gatherers try to get their petition thrown out. My hat goes to the alaskan supreme court who last week shut down that campaign is finally going to give alaskans a considered chance to get rid of this terrible system. Right bill? maximus research in general murphy this week the surgeon general came out with stunning new warning, children are stressful for parents of. [laughter] 's advisor a of mental health ad wealth being of parent surgeon general reported the 63 million parents have more stress than non parents think case of cigarettes per slop a warning on the package. Not yet clear with the federal government is going to insist that on babies. Alicia? is a hit to stanford university. This file is hosting a conference on the covid lessons. It has invited speakers include including a lockdown opponent such as marty makary, john and others credit to the new president for opening up debate and letting the winds of freedom below as the university motto goes. Alright, dan? and mr. Cornell university which opened this week with a resumption of student protests. They are demanding the university pulled the vestments at anything related to israel. Of course they broke windows and spraypainted buildings. Cornell is a place where it cost $65000 to send your kid to the school benefit increase from last year. $92000 all in nearly 100,000 dell's to send your kid to a nut house. [laughter] to spray paint buildings but that is it for this week's show. Thanks to my panel into all of you for watching. We hope to see you right here next week. ♪ heavy fighting between israeli forces and palestinian

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