Making money. Im Charles Payne. Yes we are invested in you. Now over the next hour our studio audience they get to ask the questions. These questions will reflect the concerns of all americans. Questions that will play a decisive role in the upcoming election in how we tackle the pivotal issues of our time. By the way, allstar fox business lineup. Stuart varney, liz claman, dagen mcdowell. Give them all a round of applause [applause] we are going to tackle the war on the rich, student loan crisis, retirement. The economics of Climate Change. All of this and more, special Live Audience edition of making money. Bring them in. Stuart varney you know him. Host of the top market show on television. Varney company. Hi, everybody. [applause] charles thank you very much stuart. My pleasure. Were going to get right to it. I know that is how you like to do it. Situation son, give us your first question . I am a student, is it responsibility of the government to forgive student debt or cut the cost of higher education. Charles which one do you want . Start varney, what do you think . A very wellworded question, young man. Is it the responsibility of government. Good question. Let me start in the other direction. Beware politicians offering freebies, basically buying votes. I dont agree with those politicians who say lets cut the cost of college. Lets forgive your student debt. The last thing we want is a new Entitlement Program given towards education. But i will say this, the Obama Administration nationalized student debt. You get student debt through the government. So they are in charge of credit that goes to students. That is a very dangerous position, because you politicized credit, not good at all. What i want to see happen is, have colleges take some responsibility for the swaying that they have helped create. They are offering, extraordinary range of courses at great costs without any idea where youre going after college. They have enticed you in with all kind of promises and theyre not accountable when those promises fall flat. I went them to be part of the solution to this problem. I think the government should also be a part of the solution to this problem. Theyre handing out the debt. They better quit doing that to people who cant pay it back. I admit we got a problem but its not the governments responsibility to solve it. Charles harvard has 41 billion. They say they got the best education in the world. Yeah. Charles why doesnt harvard pay for it . Why not . Charles they can afford it. By the way did you go to college in part you felt maybe at some point part of the loan would be forgiven . No . You just went for yourself betterment. If it is forgiven, it is forgiven. For a long time it was implied particularly by the last administration maybe somewhere along the line. Now being offered as political offering from several candidates. I was curious. Great question. What a way to start it off. Go to the next question from danielle, age 27. Danielle, the floor is yours. Hi, im an mba student and my question for you is, why is it that corporations receive welfare in the form of tax breaks yet they only pay their employees minimum wage . I wouldnt call that welfare. There is no check goes from the government to a private corporation. That is a form of welfare. A tax break that goes to a corporation is designed to help that company expand, hire more people, open new factories, new plant, get into new products, expand. That is the function of the tax break. I draw the line. That is not welfare. It is almost the exact opposite of welfare. It is encouragement to create and expand. You asked, look, why did they get these tax breaks and yet pay their workers minimum wayne . The answer to that is, the wages are, should be set and are largely set by supply and demand. If you dont have the skill to move up the food chain to get that job pay higher, get that skill. It is your responsiblity to do that, not the responsibility of the company to jack up your wages, simply because they have got a tax break from the government. Charles stuart, do you think there is any such thing though as crony capitalism or corporate welfare in any shape or form . Yeah, it exists. Sure does. Charles what about the situation in new york . Aoc, amazon getting billions of dollars in incentives to come to the city . Some people were in an uproar, they said that was example of corporate welfare . Lets take that as a good example because amazon was enticed to come to new york city with large breaks, money, but they didnt get that money until they had hired workers, paid them a lot of money, built their headquarters. It was sort of a performance bonus, if you like. Charles right. They didnt get the money up front. Here is what weve got for you, come on in. Charles right. Here is what we got for you if you do this, that and the other. That is the exact opposite of corporate welfare. That is encouragement, not welfare. Charles we should point out they were competing against 50 other cities. Fantastic other question. Thanks very much. Lets go to the third question, go up the age a little bit. I want to hear from larry, 71yearold larry. What is your question . Larry, you and i are the same age. Excellent. Charles you look a lot better. I got makeup. It helps. My question is, if the progressives in november will they try to install more socialism . If they do, what impact will that have on the economy. Charles before you answer, before you answer, folks, i will ask everyone in here a question. Im reading a book, it is called the future of capitalism. A lot of book says modern capitalism is unlimited in the potential of prosperity that it can bring to people but it is morally bankrupt and on track for tragedy. Show of hands, how many people believe that . How many think that is possibility thats true . One, two. Stuart, the floor is yours. Let me answer larrys question. Charles i want to see how many people felt this. Obviously were in a tugofwar in this country. We are indeed. Your question was will progressives attempt to install socialism if they win the election. My answer, categorical yes. No question about it. Look at frontrunners in the democratic party. Joe biden, socalled moderate. He is way out there on the left with taxes big spending and Green New Deal of sorts. I think till with be disaster. Show me a economist who really believes you can take trillions of dollars out of private hands, give it to the government, have that work for growth and prosperity in our society . It doesnt work that way. Let me go on for a second. Charles please do. Im a refugee from socialism. I came to america in the 1970s leaving socialist britain. I have said this before. I will say it many times. In those days, in britain the government ran the coal mines, electricity, road transportation airlines, what else, trains. What else . Across the board, car production. They ran it all and they ran it into the ground. They were based on socialist principles. It absolutely didnt work. And heaven forbid that we see the same thing happen to this great capitalist society where capitalism has given us prosperity. That is my answer, larry. It is a good question. Thanks for asking it. Charles larry, why are you so concerned about it . Youre set you lived a pretty good life. I assume youre okay. Are you concerned about future generation. More immediate than that, actually. I have heard on occasion that progressives have suggested the public, converting our Social Security system to a public pension system. In the process, confiscating ira and 401 k account balances to partially fund it. So i have a personal interest in the question because of concern over my own retirement security. Youre rightly concerned, however, that is such a long shot, the idea of confiscating private pension wealth. There was a time when people would have said the same thing about confiscating gold. Yeah. Thats true. 15love, larry, got me on that one. However, lets be realistic here, lets be realistic, even if progressive won and senate won and house stayed with the democrats i dont think you can get that level of confiscation out after leftwing congress and leftwing president. I think that is unreal expectation even for the socialists. We learned Bernie Sanders is now the leading candidate in the democratic party. He is like a juggernaut right now. Right. Charles the promises he has made means they have to confiscate or redirect tons of money, perhaps trillions of dollars from somewhere. The largest pools of money are corporate profits are sitting in retirement accounts. Must look entiesing because they already raise raided Social Security. If there was a Social Security lockbox, it would be empty, this would be cobwebs there. They have to raise something else. Let me raise one problem Bernie Sanders has will surface big time. Not many people in this room know for four years the sate of vermont tried to impose a socialized health care system, a singlepayer system. They gave it four years. They gave it vermont. This is Bernie Sanderss home state. They tried for four years and gave up. They could not do it because they could not pay for it. That goes to the heart of your question. You cant pay for this stuff. He had to give it up in vermont. I think it is a huge problem going forward. He attempts to impose that on the whole nation when he couldnt do it in his own state. That is a problem 1 2. Charles meantime you do have progressive states like california which are rewriting rules on everything. Because theyre so big, almost 40 million people, it feels like every other state is almost obligated to fall behind them. And you know, theyre going down this path also. It is hard to ignore the threat right now. If it did happen, what would be the economic consequences . Lets assume they could do these things. In my opinion depression, no question about it. Like i said before, you take trillions of dollars out of the private economy, private peoples hands, you take tens of trillions out, you stick it to the government and they distribute it, that is depression situation. Charles are you shocked, stuart, at a newlyminted american, been here for a while but you just got your citizenship at the rejection, mounting rejection, not embrace of socialism but rejection of capitalism in this country . It seems like we have to relearn the lessons of history each generation. The lesson of history is socialism doesnt work. Capitalism does work t seems that this generation i am not down on this generation, but i think they have to relearn the lessons of history. It is a painful lesson. Charles a young man in the audience raised his hand, agreed with the statement that capitalism is morally bankrupt. No, i dont think it is. On track for tragedy. Capitalism is based on individual liberty and freedom, the freedom to choose your destiny. I dont there is anything immoral about that. Dont talk to me about income inequality as dreadful thing. This administration, the Trump Administration is narrowing the income inequality gap. I tell you a fact, the lower 50 of the population, bottom half of the population, their net worth in this administration has gone up by 47 . The net worth of the top 1 , the rich, has gone up 13 . Dont talk to me about absolute dollars. Talk to me about percentage terms and narrowing of the income gap because that is whats going on now. You will never hear it in the establishment media because they have gone socialist. You will hear it from me, the income gap is narrowing, capitalist policies of donald trump. Charles ladies and gentlemen, stuart varney. That is why the man is a legend. He has my back. Charles all right. Folks, it is a question nearly as old as time. How can we guarranty Financial Stability in retirement . Weve got the answers you wont hear anywhere else. Our invested in you show will be right back in two minutes. Thank you. You work hard for your money. Stretched days for it. Juggled life for it. Took charge for it. So care for it. Look after it. Invest with the expertise of j. P. Morgan, either with an advisor or online, through chase. After all, its yours. Chase. Make more of whats yours. Tits great actually, ive been listening to audible. Its audiobooks, news, meditations. Gotta go hey you know, i do think its weird youve started commuting when you work from home. Ill be in my office. 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Save 50 on the sleep number 360 limited Edition Smart bed. Plus 0 interest for 24 months on all smart beds. Ends sunday. [applause] charles all right, folks, we are back with a fox business special presentation, invested in you. This hour were answering your questions about the ballooning student debt crisis, economy, retirement. So much more. Joining us host of the claman countdown, 3 00 p. M. Eastern here on fox business. Liz claman, everyone. [applause] liz nice to see you. Hello. Wait. I got to say hi. Nice to see you. How are you . Hi, charles. Charles hello. Liz claman, well get right into it, because this is a crowd with a lot of questions and youre a woman with a lot of answers. Liz lets go. Charles first question from john. What do you have for liz . Wheres john . Liz right there. Hi, john. Hi liz, hi, charles, thank you very much for taking my question. My question to you, what would be the best advice you would give Small Business . We are the driver of many markets and jobs but we create many jobs but we lack a lot of assistance. Liz thats true. By the way, how many Small Business owners we might have. Can we see a show of hands . You have a couple in the audience. You guys are the backbone of this economy. That is certainly true. First thing, think like an owner, come up with a great name, trademark it. I would simply say when it comes to that, make sure in this age you have a digital strategy. You have to have a great and sexy, right, you need a sexy, sexy website that shows ease of use and do not look for the government to help you because the government is busy doing other things. You know, my father came to this country from canada and he started his own medical practice. He never once asked the government for help because he said, theyre busy helping people who truly need the help. If you are coming up with an idea many, many people before you have done this, charles, they started Small Businesses. They have done it. I know one of my dear friend is a blind veteran. He was like the hurt locker guys. He neutralized bombs. Blind and nearly deaf from his injuries he started a candy company, baking fudge by braille in his kitchen. He has a website. He has a 60,000 square foot kitchen, industrial kitchen. Lets not hear excuses from anybody. You understand what im saying, right . Charles now some Small Businesses and john may know what im talking about, phil, to your point, while he wont ask for help from the government, it is these big large businesses, you know the chamber of commerce and the best roundtable, they do get help, zoning laws, taxing laws, you no so tough particularly as the economy blossoms. We keep hearing from Small Businesses they have to pay more for talent. It is a tough environment. You would think the blossoming thing, economy would be fantastic but it puts extra onus on Small Businesses to compete. Liz absolutely. The corporate cronyism, you know about the exim bank, exportimport bank. You have Big Companies getting serious help. For the Small Businesses out there, chars, they are out there on their own. However i would remind everybody here, ibm started small. Hewlettpackard started in in a garage. So did google. Some started in dorm rooms. Airbnb started in a apartment. They were so desperate money, they rented out an air bed. Inflatable beds. American ingenuity is amazing this is the country of the american dream, if you fight hard for it, you will grab it. It is not lowhanging fruit. Not easy for you to pick. Charles a fight worth fighting. Liz 100 . 100 . Charles lets go to julia, in fact one were wondering about. Liz to julia. Liz, what can won do to guarranty Financial Security in retirement . Liz thats a good one. Charles mary rich. Liz you guys, should find a lovely, wealthy woman. How many of you are fulltime employed, raise your hands . Of those, how many of you are in 401 k s . I hope all of you. Most important thing is, auto investing. Auto debit, i dont care 10 a month, start early. I am guessing that you are in your 30s . 40s. Liz 40s, good for you. Okay, i started late. I started in my late 20s. That is a mistake. The minute you get a job, i dont care if it is short term, if it is temporary, start investing. So you say, liz, where . Im not an expert. I dont know, do index investing, very low cost. Do not pay high fees. That is the wall street scam of century, where youre paying for them to simply, what . Reflect the s p 500 . You should be putting money once a month, again, 10, 50. You wont even notice it after the first couple of month, right, after first couple of months, it is called dollarcost averaging, whether the market is up or down, the most important thing is just start. Remember, you got to be responsible for your own, you know, your own investment in your own retirement because there will not be a lot left for the millenials out there. You know, i care deeply about them. I really, really do. We want you as viewers. We want to educate you. So tune in. Educate yourself. Charles right. Liz read books. Watch fox business. Charles i think, maybe you guys wou