trump is leading in the polls with republicans. you see bernie sanders, he jumped 20 points in the last month. whose message is better for america? of course, trump's message is better for america. if you look at the economies of european democracies, that is the vision that bernie sanders has for america. he wants socialism. that's not what america needs. it needs free market and lower taxes, and bernie sanders is essentially president obama on steroids. if you think the economy was bad under barack obama, it will be much worse under bernie sanders. >> that's right. it's not even that is what america needs. that's what america is about. americans are the ones who invented the phrase to make money. it's capitalism that's a uniquely american system. it's a system of private property. individual rights. europe is glowing about as fast as crabgrass is growing. what do you think of this? bernie sanders, though, is gaining in the polls, and he is rel pulling out the crowds. bernie sanders is offering people a free lunch. everybody wants a free lunch. as i said earlier on this show some time ago, in 1837 writing about americas is when the representatives of the people discovered that they can bribe the people with their own money. it will be the he wanted of the republic, and that's exactly what bernie sanders is promising. >> you know, here's the thing, jessica. you know, we've seen this experiment play out with big government in detroit, in chicago. look what happened in baltimore. wow. they really raise taxes starting in the 60s in baltimore. chased out the middle class. there's economic cal appearance in that area. >> no doubt there are a lot of failed democratic policies. especially visa vi big urban areas across the country. we're talking about socialism versus capital inch. first of all, bernie sanders calls himself a democrat capitalist, and he is also not in front here. hillary is still 18 points up. hillary is very different from bernie sanders. you know, i like to think of her as a compassionate capitalist. she understands it's a free market should work, and it should benefit people, but that we need a strong safety net. >> that's a nice name. >> hang on. let me take it to michelle. hillary seems to be rolling out big government give-aways too. we've been down this road before. the government doing all of this. even democrats moynihan said you cannot mandate goodness from washington d.c. you cannot mandate economic growth in washington d.c. >> they both want to increase the entitlement state. they both want to create an england type economy here in america. you look at the european union. they have almost a 10% unemployment rate. those policies aren't working. democrats constantly point to europe as something we should be modelled after. it's ridiculous. we need to lower the regulatory -- >> go ahead everybody go ahead. >> over 0% of americans think that income inequality is an important issue or that 60% believe that the government should play some roul role in -- >> i think that's why they're doing well. that's why he is doing well. he is not just providing free lunches. he is providing free lunch, free health care, free life essentially. lower tax wills bring in more federal revenues. we'll help out the economy. we'll help out jobs. smaller government is good for the economy. we want to be about the entrepreneur to create jobs. that was the democratic platform starting under somewhere fk going through 2004. the democrats seem to be an identity crisis starting in 2008, swron than. >> elizabeth, it's not so much that socialism is bad for the economy. it's bad for the individual. i mean, it's not compassionate. it's not good, or it's not nice. it says basically you don't own your life. you have to sacrifice yourself or the requirement or the public good are anything else. there's this misconception that capitalism is mean and socialism is this benevolent, you know, wonderful thing. it's not. in fact, it's just the opposite. >> you know, in human beings -- let me back up. some of the voters on the left think that the government can fix everything, that there's something magical about the government stepping in. they forget that the government is made of human beings too. now we want trump. he wants to get the government out of things like education, but bernie sanders, he wants free college for all. can we really afford that? >> no, of course not. you can't afford it. we can't even afford what we're doing today. you see what student debt is, what colleges are charging. you can't even afford that. you come back to jfk. you will remember in his inaugural speech, he said ask not what your country can do for you, ask what you can do for your country. >> that's right. jessica, now it's like ask what your government can do for you all the time. we haven't heard from him but it's -- there is a wide range of income coming in in over a million -- >> what's the progressive, jonathan, under what's been talked about? steve forbes is talking about it, a tax credit, that will be progressive. we don't know if trump would agree to that. elts not deposited that just passes out and what's the most efficient way. that's why i disagree. when you talk about the financial impacts of a big government, yeah, that leads to economic distress. it's really the moral whered. if you own your life, you own your wages, and that's what these candidates should be talking about. >> you're a student of political history. are the democrats in some kind of identity crisis? have they forgotten they were once the party of little government? >> i think so. i think that they realize that telling everyone that they'll give them a free lunch and free health care is the fastest way to get votes. had he can't hire new people and create more businesses and expand their businesses. >> we've got only a little time left. wayne, missing in a free college education debate is how these left wing academics have raised college tuition prevent hitting middle class families really hard. what do you think? >> well, that's true. that's what i said. we can't pay for it as it is. the educational system, the higher educational system is out of control. you mentioned earlier about what jonathan is talking about. the arrogance that the government knows better than you how to distribute your money. >> they own you. >> that's what's way out of line. >> okay. we got to leave it there. >> i hope you are not against having a social safety net. the costs are out of control, and i would like to hear both parties talking about vocational training. not everybody needs four year college. >> we keep it coming. this is fun with the cashin in gang. we warned you about it, and now a warning from wal-mart, and the restaurant industry may be proving that raising the minimum wage is starting to have a maximum impact on jobs. that's next. ♪ i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet? can a a subconscious. mind? a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive? >> these guys told you so. hiking the minimum wage would backfire. just this week wal-mart, the latest company saying that pay raises are hurting profits. that could possibly hurt jobs there. all of the hikes will mean half of restaurant jobs will take a hike. the workers could be replaced by machines. jonathan, is this more proof that mandatory minimum wage hikes are hurting and not helping workers? >> the minimum wage itself. we told you about that on this show. the labor department told us about that back in 1935 when the first minimum wage was instituted. it keeps low skill people from beginning to learn those skills to have them move up the ladder. government intervention hurts the people they're most trying to "help." >> swron than's point, half of the workers on the minimum wage are under the age much 25. two-thirds of them will move up within a year to a higher pay salary. the fact of the matter is, and we know from experience, and this is happening in other industries. once the labor cost goes up, the entrepreneur has no choice but to try to find a way to cut his costs, and he does it with machines, and he does it with efficiency and things like that. prepackaged food will become more priflent. all of those kinds of things. the jobs will go away. as simple as that. >> mcdonald's is seeing that ipads or kiosks that are robotic. not only cuts costs. it also helps guard against things like possible, you know, theft in their stores, more -- less mistakes. actually, people order more food and drinks via ipad. they got to watch out. of00 economists -- senate democrats have talked about $12 ab hour and argue from an example around the country that it wouldn't hurt the economy. just let me finish. the larger point is that america hasn't gotten a raise since between. we could accomplish a lot more. i agree $15 is ridiculous, but that doesn't mean that we shouldn't be raising the minimum wage. zoog i hear what you are saying, but michelle, here's the hinge. take the flip side to that. what if the government stepped in after a restaurant ceo said, you know what, make the minimum wage $2 an hour. i mean, i think what people out there, they don't like the government stepping in and mandating what the wage is to be. what do you think? >> yeah. i mean, this is something that should be negotiated between an employee and their boss. i'm want going to keep the person that i pay $8 an hour. i want to get someone that has a better resume, that has higher skills and pay them $15 an hour. i'm want going to keep the $8 an hour. what that ends up hurt issing low skilled workers and, of course, lots of young people. i mean, minimum wage jobs oftentimes are for high school students who need to make extra money. >> i want to get jonathan back in here. i feel like the whole country will be falling through the looking glass. we're talking about raising families on a minimum wage. it was never meant to raise families. you can't just pick a number out of the hat and say this is the wage that people should make. think about it. it's irrelevant of the actual recipient of it if a business owner pays someone $15 an hour, when they only swren rate $10 an hour worth of work, that person is going to go out of business. it's not how it works. it hurts the low skills workers. >> it has to be -- carla was talking about it the other day. she doesn't support a minimum wage at all. we have regional issues. what should sustain someone in new york city is different than what sustains someone in milwaukee. et cetera. making this kind of base line -- >> the government should not be what does a living wage mean? if the left does something wrong, this is it. it's important we address it. just wiping out the idea that we should have minimum wage. it's there for a good reason. it's securing a certain baseline level of income. that can be important. >> go ahead, michelle. >> i think i'll go back to your point which is that these are not jobs that are supposed to be careers. we are in a brand new world. we never talked about the minimum wage being, you know, for careers. it was to start out on and the lower ladder of -- rung of the ladder, michelle wright. i think we're in -- we have really fallen through the looking glass in this economy under this president where we're talking always about the minimum wage and not about increasing jobs. go ahead. >> exactly. if we raise the minimum wage it will be self-help kiosks. we've seen this in cvs's. >> the restaurant industry their work force is really basically stayed the same size over the last 10 or 15 years. they have to be looking at cutting jobs here. >> well, it's not just them. it's everybody. i mean, in the free economy, your wages are -- markets are just like everybodying else are like prices are. you cannot pay a guy who operates a machine -- a computer control machine the same thing you can pay the guy who is sweeping the floor. it just doesn't make any sense. skills are different, and skills demand different wage levels. you guys, again, are really terrific. we have a topic for you guys to fight over. kids getting trophies just for "participating" but not the kids of one nfl superstar. he actually sent their trophies back to teach his children a lesson. now, is he right, or is he wrong? that's next. don't go away. you totalled your brand new car. nobody's hurt,but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do, drive three-quarters of a car? now if you had liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. new car replacement is just one of the features that come standard with a base liberty mutual policy. and for drivers with accident forgiveness,rates won't go up due to your first accident. learn more by calling switch to liberty mutual and you can save up to $509. for a free quote today,call liberty mutual insurance at see car insurance in a whole new light. liberty mutual insurance. iran nuke deals. i hope you join me. back to cashin in. does every child deserve a prize? james harrison, nfl player, doesn't think so, and he proves it after his sons received participation trophies at football camp. he gave them back saying, "i'm not about to raise two boys to be men by making them believe that they are entitled to something just because they tried their best." do you agree with him? >> yes, i agree with him. you travallize the idea of competition totally, and then there's no point in having the competition in the first place, and everybody is getting a trophy. everybody thinks they deserve something. it takes inequality and makes quality out of something that doesn't make sense. >> i think it's not a real world lesson, right, that everybody is it a winner. we know that that's not how it's going to pan out. i went to a school where everyone got a trophy, and i was acutely aware of when i got the not a good one, which has made me more of a competitive, driven person, but there's an argument that you have 18 trophies for -- >> it kind of makes children feel like everybody is feeling sorry for them. what do you think, michelle? >> look, i think this is why so many people in my generation are entitle and having trouble growing up and being adults is because we grew up in a generation where everyone gets a trophy even if you were the bad -- the committeed with the bad attitude and was not good at sports. you still got the same award as the person who tried really hard and was great. now that they're out of college and in the real world, they're realizing it's not all rainbows. >> what do you think in. >> it hurts the recipients. all these things do. everyone gets a trophy. afmpltive action. gender quotas. it destroys the individual self-esteem. their thought that they can compete as individuals and succeed in the world. that is the biggest detriment to people who get these when everyone gets a trophy. you have all been terrific. coming up, the stock market is tumbling, and we've got the pick back in may that has been literally jumping. you have to find out what it is you have to find out what it is and how much hig at ally bank no branches equals great rates. you have to find out what it is and how much hig it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. but it is not the device mobithat is mobile, it is you. i take prilosec otc each morning for my frequent heartburn. because it gives me... zero heartburn! prilosec otc. the number 1 doctor-recommended frequent heartburn medicine for 9 straight years. one pill each morning. 24 hours. zero heartburn. >> before we say good-bye to jonathan and wayne, they'll give us their picks for this rocky market. let's start with you. >> one of the things that's pushing down stock prices is fear about credits. w wr de is an etf that goes up as credit spreads wideens and if the market keeps falling, this will do very well. >> you are a company you picked way back in may. it's way up since then. what's the stock? >> amberella, and it's in the drone business. i think that has a lot of growth left in it. >> great job, guys. eric will be back next week. thank you for joining us. have a great weekend. >> announcer: the following program is a paid advertisement for the food lovers fat loss system, brought to you by provida life sciences-- practical solutions for better living. >> i'm annette, i'm from studio city, california. i'm a mother of three, i weight 155-1/2 pounds. this is the heaviest i've ever been. i'm a size 10. ...and this is me now! i lost 25 pounds and went from that size 10 to this size 2 in just 12 weeks. how did i do it? 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