Episode Transcript
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Speaker 1 (00:01):
Kamala Harris has come out and done a big interview
on the economy that didn't work. Then she had a
big speech on the economy that also didn't work because
there was nothing actually in there. There was no real
facts about what her plan would be. And Kamala Harris
is now having a problem because people still don't know
(00:24):
what she believes in. She won't actually tell you what
her policies are. Well, all that was supposed to be erased,
why because Kamala Harris came out with an eighty two
page policy plan. Bloomberg described the eighty two page plan
(00:44):
this way.
Speaker 2 (00:45):
An appearance at the Economic Club in Pittsburgh, where she
outlined specifically what she'd like to do with American manufacturing.
Speaker 3 (00:53):
And across all these industries of the future, we will
prioritize investments for lengthening factory towns. This is so important
for strengthening factory towns, retooling existing factories, hiring locally, and
working with unions, because no one who grows up in
(01:15):
America's greatest industrial or agricultural centers sh'd be abandoned.
Speaker 2 (01:23):
Joining us now for more. Bloomberg's Wendy Benjaminson and Bloomberg
Government's Jonathan Tomorrow here with us in our Washington d
C studios. Welcome to you both. Of course, it wasn't
just the speech from Kamala Harris today, but we now
have a policy book eighty two pages long. You can
find it online, read it in its entirety if you
would like a.
Speaker 4 (01:40):
Lot of it.
Speaker 2 (01:41):
Though, Wendy outlines things she's already talked about, including when
it comes to the child tax credit, for example, this
new tax credit for manufacturing, though also included. We just
don't exactly know more specific details than that.
Speaker 5 (01:54):
No, we don't. And Kamala Harris right now, I mean
she joined the race with only a few months to campaign,
as opposed to a year and a half or four
years that candidates normally have, and she is she doesn't
want to lose a single solitary vote, right, She doesn't
want to anger anyone. So she's keeping the policy book,
her speeches at this very sort of general level where
(02:16):
she's four workers, and she's for employers, and she's for capitalism,
and she's for you know, tax credits and for building
the middle class. She's just going to be out there
trying to make everyone happy and run the clock for
forty one days.
Speaker 4 (02:32):
Forty one days.
Speaker 1 (02:33):
I think I love that Bloomberg is even like like
this is absurd. It doesn't matter if it's eighty two pages,
if all of it is generalities and things that she
has already said. Now, I'm going to go through this
for you so you know what's actually in it in
just a second. But first I want to tell you
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code ferguson. Now back to this eighty two pages. All right,
this is the part that is just makes me furious.
(04:53):
They go, all right, how many pages. Does it look
like we need to throw out there so that we
can then say we do have policies, and it's excember
pages of policies. Somebody decided eighty two would be enough.
Now when you heard Bloomberg's whinny Benjaminson way in on
President Harris's addressed economy dropping this eighty two page policy
(05:16):
book and saying it's basically I'm in favor of like
capitalism and jobs.
Speaker 4 (05:21):
And it's all generalities. That's it.
Speaker 1 (05:24):
There's others, by the way that got in on the
action saying this isn't help at all. We don't know
anything else. There's nothing concrete in here. This is all
a bunch of kumbayaism and that is exactly what it is.
Speaker 4 (05:38):
Now. This is as And here's the other thing.
Speaker 1 (05:41):
Somebody needs to ask her the question, and the simple
question that needs to be asked is the question of Okay,
so what's next?
Speaker 4 (05:50):
Right, like, what are you going to when.
Speaker 1 (05:53):
Are you gonna tell us what your policies actually are.
She's not gonna do it, and that was the point
that Bloomberg was making as well. She's going to just
talk in generalities and run the clock out.
Speaker 6 (06:08):
Now, Wendy in terms of you know, appealing to the masses.
You know, she was in western Pennsylvania today and I
presume trying to paint herself as a pro labor and
there has been concerns about that. Do you think she
succeeded in that today?
Speaker 5 (06:23):
I think she did. I mean she says all the
right things to unions. And there is this, you know,
the Trump campaign is trying to make a big deal
about how she didn't get the Teamster's endorsement, which they
didn't get either, but they are making a big deal
about how a Democrat did not get the labor endorsement.
She did get the endorsement of several locals or regional
Teamsters unions and many other unions. But and she is
(06:47):
promising to do all those things. She is also promising
as a centrist to make it easier for companies and
manufacturers to get the capital they need to keep going.
So she's really, like I said, trying to you know,
stick to that middle ground there.
Speaker 1 (07:02):
Now, that's what Bloomberg had to say. And again they're
not buying it. So and this hasn't been going well
for Harris, so they said, all right, what we're gonna
do is we're gonna send her over to CNBC and
we're gonna let her talk at CNBC and that somehow
is going to fix the issues. Kama Harris struggles to
answer economic questions also on CNBC when she gave her
(07:25):
first solo interview on cable News as the Democratic Party's nominee.
So this is the very first interview, and they thought,
all right, well, send her to CNBC and this will
show she's got a plan and she can say over
and over again, how many how many you know pages
it is? And I just did this other speech. Well
guess what. She failed to answer questions even in a
friendly interview with MSNBC Stephanie Rule, now Stephanie who faces
(07:49):
criticism for comments Friday in which she had defended, okay
her from having to face questions about her policies. Harris
about defending her policies, and I guess that's how she
got this interview, She asked Harris, pointed questions and even
fact check some of our repeated talking points. It did
not go well at all. I want you to take
(08:10):
a listen to one of those very simple questions.
Speaker 4 (08:13):
Harris was asked.
Speaker 7 (08:14):
Expanding that child tax credit or you mentioned housing before
getting that extra money for a first home.
Speaker 4 (08:21):
If you can't raise.
Speaker 7 (08:21):
Corporate taxes, or if GOP takes control of the Senate,
where do you get the money to do that? Do
you still go forward those plans and borrow?
Speaker 3 (08:30):
Well, but we're going to have to raise corporate taxes,
and we're going to have to raise We're going to
have to make sure that the biggest corporations and billionaires
pay their fair share. That's just it. It's about paying
their fair share. I am not mad at anyone for
achieving success, but everyone should pay their fair share. And
(08:52):
it is not right that the teachers and the firefighters
that I meet every day across our country are paying
a higher tax then the richest people in our country.
Speaker 7 (09:02):
Bill Gates just said it this week. If he was
in charge of taxes, he would have paid more. But
how do you find that line to make sure corporations
are paying their fair share? But they're not leaving our country?
Speaker 1 (09:13):
By the way, I still want someone to explain to
me what fair share means like it's something we hear
every election cycle. They demonize the wealthy, and they demonize
people that pay a crap ton of taxes, saying you're
not paying your fair share. I want to know an
actual number, because when Kama Harris used to go out numbers,
(09:33):
it was about seventy percent tax rate. She hasn't said
that lately, but she said it in the past. So
what is the number now? Is it still seventy percent?
One of the points she was trying to make is, well,
you know you got to pay your fair share. If
anyone says that in front of a journalist, the journalist's
next question should be what number is fair share? How
(09:56):
do you determine what fair share is? Tell the American
people and the corporation what a fair share is. Is
it seventy percent because you've said in the past you've
been in favor of high taxes at seventy percent? Is
it fifty percent? Is it sixty percent? What is your
definition of fair share? Because the question that CNBC asked there,
and this is why I bring this up to go
(10:16):
back to it, she said, how do you you know
Bill Gates says if he was in charge of taxes,
he paid more.
Speaker 4 (10:21):
I don't believe that for a second. I think Bill
Gates full of crap. But this is what.
Speaker 1 (10:25):
Billionaires say when they get out of touch with the
reality because they have so much damn money.
Speaker 4 (10:28):
And I don't believe him, by the way. I think
he's totally full of crap.
Speaker 1 (10:31):
I think he's a Weirdoh, and I don't trust Bill
Gates at all, by the way, I want to be
very clear about that. But he says, well, if I
was in charge of tax policy, I would have paid more.
Speaker 4 (10:40):
I think you're a liar. I think you're a fraud.
Speaker 1 (10:43):
And so I go back to this question, how do
you and she asked the question.
Speaker 4 (10:49):
It's an important question.
Speaker 1 (10:50):
I'm gonna back it up like ten seconds here, because
she asked the question, how do you make sure people
aren't going to leave the country, Like, if you tax
corporations too much, they're all going to leave America, which
is which then goes back to the question, Well, then
what is a fair share?
Speaker 4 (11:03):
Then?
Speaker 1 (11:03):
Is it to the maximum amount before they decide to
pack up and go to another country.
Speaker 7 (11:08):
Listen, that says he would have paid more, But how
do you find that line to make sure corporations are
paying their fair share but they're not leaving our country?
Speaker 3 (11:17):
Well, listen, I work with a lot of CEOs. I
have spent a lot of time with CEOs, and I'm
going to tell you that the business leaders who are
actually part of the engine of America's economy agree that
people should pay their fair share.
Speaker 4 (11:31):
They also agree.
Speaker 3 (11:32):
That when we look at a plan such as mine
that is about investing in the middle class, investing in
new industries, investing in bringing down costs, invest in entrepreneurs
like small businesses, that the overall economy is stronger and
everyone benefits.
Speaker 1 (11:50):
She had answered the question. Now you notice she literally
did not answer the question. Now, after this interview was over,
Stephanie on this softball interview with Kamala she even said
when she was assessing, she went on MSNBC right to
(12:11):
talk about this interview, and they're talking to her about
the interview.
Speaker 4 (12:14):
You want to know what her own assessment is. Listen,
we'll talk about that outthor I do.
Speaker 7 (12:20):
But here's what it's a little tricky. She doesn't answer
the question around if the GOP is controlling the Senate,
if she can't raise corporate taxes, where is she going
to get the money from, you know, to expand the
child's ax credit and do all the things she wants
to do. And she says, we just have to do it.
And that's great, and that's a campaign promise. But the
issue is if it means we're just going to borrow again,
(12:41):
then what we're doing is we're just never addressing the deficit.
And back in the days when you were a proud Republican,
debts and deficits mattered.
Speaker 4 (12:52):
In other words, she doesn't answer the question right.
Speaker 1 (12:55):
She doesn't answer the question because she doesn't know how
to answer or the question, or she can't tell you
what she really thinks because she believes in insanely high
taxes and government control and government pricing. Now you may say,
hold on, Ben, that's not what she says. All right,
let's go to that part of the interview. Kama Herris
(13:15):
was asked about implementing price controls.
Speaker 4 (13:18):
That's what they do in communist countries. Listen, you said you.
Speaker 7 (13:21):
Want to take this on by going after those who
engage in price gouging. But as somebody who supports free markets,
who's a capitalist, how do you go price gouging without
implementing price controls? Because once we get in the zone,
people start to get worried and they say, I don't
know what she stands for.
Speaker 3 (13:41):
So just to be very frank, I am never going
to apologize for going after companies and corporations that take
advantage of the desperation of the American people. And I
as Attorney General, I saw this happen in the midst
of an emergency, it be an extreme weather event or
even the pandemic. We saw it where those few companies,
(14:05):
not the majority, not most, but those few companies that
would take advantage of the desperation of people and jack
up prices.
Speaker 4 (14:14):
Yeah, I'm going to go after them. Yes, I'm going.
Speaker 3 (14:16):
To go after them. And that is part of a
much more comprehensive plan on what we can do to
bring down the cost of living, including housing, including the
everyday needs of the American people.
Speaker 1 (14:30):
That's like I mean, I'm never going to apologize for
going after companies and corporation that take advantage of the
desperation of the American people. Last year, in twenty twenty three,
the profit margin for grocery stores nationwide was one and
a half percent.
Speaker 4 (14:47):
Apple was like thirty percent.
Speaker 1 (14:49):
You want to talk about price gouging, go after Apple, which,
by the way, I don't think you should go after Apple.
I'm just saying, if you're actually going after people for
price gouging, then you should be going going after Apple.
But when you say you're going to go after the grotuors,
and by the way, she may do this, like she
actually might do it, all right, I really do believe this.
(15:13):
But even CNBC after the interview, they played this part
and they're like, this is a problem because it's a
communist idea, and if you understand economics, you understand she's
demanding communism.
Speaker 7 (15:29):
You've said you want to take this on by going
after those who engage in price gouging. But as somebody
who supports free markets, who's a capitalist, how do you
go after price gouging without implementing price controls? Because once
we get in the zone, people start to get worried
and they say, I don't know what she stands for.
Speaker 3 (15:49):
So, just to be very frank, I am never going
to apologize for going after companies and corporations that take
advantage of the desperation of the American people.
Speaker 8 (16:05):
She didn't say she wasn't going to implement price controls
and didn't really explain the policy, but this continues to
be one of her centerpiece topics around inflation, and it
just doesn't make economic sense, and to back it up further.
Here's a chart for you what's been happening with grocery
price inflation.
Speaker 5 (16:23):
According to the.
Speaker 4 (16:24):
CPI, it's come back down. So yes, we're.
Speaker 8 (16:27):
All feeling it because if there's a cumulative impact, and
prices are still more than twenty percent higher than they
were in twenty nineteen, but the prices are coming down,
and it's just not clear what a government.
Speaker 9 (16:38):
But also you've made the point the margins have did
not appreciably increase, correct, And so yeah, I don't know
what's this price gouging. I mean, maybe there are certain
pockets of certain areas of the economy.
Speaker 4 (16:50):
I don't know.
Speaker 8 (16:51):
It's pockets fund are still high and from a lot
of these prices are still high. And you know, the
whole notion like if your opponent is painting you as
a communist, maybe don't talk about price controls and price
gauging last time.
Speaker 4 (17:06):
I mean that's CNBC saying it.
Speaker 1 (17:08):
And they're also like the prices have gone up from inflation,
the profits have not gone up. And that is the
part that's so dangerous about Kamala Harris's policy. Here is
again the prices have not gone up as in their.
Speaker 4 (17:26):
Price gouging you.
Speaker 1 (17:27):
The profits are insanely low one a half percent. Yes,
the prices of the goods, yes, the produce, yes, everything
is skyrocket The profits have not skyrocketed with them. So
when you understand how the market works, you understand just
how ridiculous she sounds, how ridiculous.
Speaker 4 (17:48):
All of this becomes.
Speaker 1 (17:50):
The reality of how bad it is, how absurd it is.
And yet they're saying, as you just heard there on CNBC,
maybe don't go for communist ideas when your opponent is
actually calling you a communist.
Speaker 4 (18:07):
Like, maybe that's when you shouldn't be.
Speaker 1 (18:09):
Going out there and advocating for communist ideas. This plan
by Harris that she's dropped is all crap, and everybody
knows it's crap, and they know it's eighty two pages
of crap, and they know that there's no specifics in
the eighty two pages, but it gives them a talking
point to say, no, no, no, we have a plan. You
(18:29):
didn't read the plan. Go read the plan. By the way,
I read this crap so you don't have to. It
is eighty two pages of nothing. It's eighty two pages
of things that she's already said that actually make no
sense at all.
Speaker 4 (18:44):
There's no policies.
Speaker 1 (18:46):
It's all we need a better economy, all right, we
need a better economy. We need a better way for
people to succeed. Okay, how we need lower prices?
Speaker 4 (18:59):
Okay.
Speaker 1 (19:00):
The question that you should be asking is, well, then
how are you going to do it? And and there's
also one other part here, why are people not saying, woman,
you're in charge?
Speaker 4 (19:13):
Okay? Like you're you are in.
Speaker 1 (19:15):
Charge, You are in charge, You're in charge. Like why
aren't you doing this now? You have the levers of power.
I said this in the show yesterday. So you should
be able accountable for not doing this right now, for
for not actually caring right now like this is you
(19:35):
don't have.
Speaker 4 (19:36):
To wait to do this. You can do it now.
Speaker 1 (19:39):
And and by the way, Joe Biden said on the
View that he has given Kamala Harris the ability to
do whatever Kamala Harris needs to do. He's basically turned
over the reins to her. Okay, like like like he
said that on the View. So if that's what you're
saying on the View, you can't tell me that you
(20:03):
do not have the power and or the ability to
do it now? All right, real quick, though, I want
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Picks right now. I go back to the basic issues.
Trump's last day in office, inflation was one point four percent.
It's been as high as nine point one percent under
Harris Gas was two thirty nine. Trump's last d in
office five h two is the highest has been nation
average under Kamala. Mortgage rates to day Trump left office
(22:13):
two point eight percent under Kamala Harrison had been as
high as eight percent. Average rent under Donald Trump's office
time in office fourteen hundred dollars. Average rent under Kamala
Harris eighteen hundred dollars. This is the difference between the
two policies. And when Kama Harris came out and said,
I'm going to give you a vision, well apparently it's
(22:34):
an eighty It's an eighty plus page vision of nothing.
There's two things that have been said so far in
this campaign by Harrison Walls that I agree with.
Speaker 4 (22:43):
Here's Tim Walls of ep CAN at first.
Speaker 10 (22:45):
We can't afford we can't afford four more years of this.
Speaker 1 (22:52):
I agree with him, we can't afford four more years
of this.
Speaker 4 (22:57):
I can't believe you actually said it.
Speaker 1 (22:58):
And then there's also Tama Harrison what she said this
week about the economy.
Speaker 4 (23:04):
This is Kamala in her own words.
Speaker 1 (23:06):
Again, I couldn't agree with her more when she said this,
we just.
Speaker 3 (23:09):
Need to move past the failed policies that we have
proven don't work.
Speaker 1 (23:16):
That is your entire career as the vice president. That's everything, folks,
that's all of it. And to act like that somehow
you're gonna be able to like fix this, to somehow
act like you're.
Speaker 4 (23:31):
Gonna like this is gonna get better.
Speaker 1 (23:33):
You know, there's a New York Times poll that came
out and it shows that it's a tight race between
Harris and Trump.
Speaker 4 (23:40):
But there's something interesting that's changing. Kamaia Harris has.
Speaker 1 (23:44):
Dropped eleven percent among Latino voters in Arizona the last month.
Why because they're getting their jobs taken away by illegal
immigrants and rents have gone through the roof. Listen to
how they had reported on CNN when they were in
shock by this.
Speaker 11 (23:59):
Other things that we should note, and I don't know
if we can show this number. I want to put
this up on screen. Latino voters have moved away from
Harris in Arizona. If you believe this New York Times poll,
her lead has shrunk by eleven points in that voting block.
It was she was at sixty percent in August, now
forty nine percent.
Speaker 1 (24:17):
By the way, I love it that now when they
get a poll number they don't like. Did you notice
there that Jim Acossas said, if you believe the poll,
it's the it's the liberal New York Times. My producer
and I were laughing when we were getting ready for
the show today because it's like, wait a second, now,
CNN doesn't like the New York Times. Because the New
York Times has a poll that shows that Kamwa Rris
(24:39):
has dropped eleven percent among Latino voters in Arizona last month.
They're like, well, if you believe the poll, listen carefully
to his words here, he's now fact like, maybe you shouldn't,
Maybe you shouldn't believe the New York Timesers.
Speaker 11 (24:50):
Have moved away from Harris in Arizona. If you believe
this New York Times poll, her lead has shrunk by
eleven points.
Speaker 4 (24:58):
If you believe the New York Time.
Speaker 1 (25:00):
So now the New York Times a liberal New York Times,
because it shows a massive drop in support among Latino
voters eleven point drop in Arizona the last month, they're now.
Speaker 4 (25:11):
Saying, well, maybe maybe.
Speaker 1 (25:13):
That's not true, right, may maybe that's not true. Kevin
O'Leary put it perfect when he said this last week,
guy from Shark Tank. Okay, he was on Fox and
when she was talking about her, you know, on the
her economic plan.
Speaker 4 (25:29):
This is what he said.
Speaker 9 (25:31):
Who is it who's better for the economy.
Speaker 10 (25:34):
I don't know yet because I don't have any details
from Harris. She has been all sugar no protein. That's it,
and it's become a really big sticking point with investors.
We've got to remember, we have the largest economy on Earth.
Speaker 11 (25:47):
Over eighty five percent.
Speaker 10 (25:49):
Of our jobs are created by the private sector. Business
investors like me and leaders have to deal with who's ever.
Speaker 4 (25:54):
In the White House in January.
Speaker 10 (25:56):
So whoever ends up on the sixth of November is
the new mandate.
Speaker 4 (26:00):
We'll have to deal with them. So we need data,
we need.
Speaker 10 (26:02):
Policy, and I'm getting a little critical now because.
Speaker 4 (26:06):
I don't have any.
Speaker 10 (26:07):
So I need answers around taxation. For example, if you
tell me the taxes are going to be twenty eight
percent plus state taxes on corporations headquarters, I'll have to
worry that they moved to Ireland again, because we did
that to them ones and that didn't work out.
Speaker 11 (26:21):
For us very well.
Speaker 10 (26:22):
I really need to understand the idea of price controls
that didn't work in the seventies, it doesn't work anywhere
else on Earth. And this whole idea of taxing unrealized gains,
I mean that you got to remember the number one
export of America's the American dream. This is a two
hundred year old economy that's based on supporting entrepreneurship that
(26:43):
destroys capital formation. Those ideas are beyond non starters. They're crazy,
and so you have to get more details on that.
And I'd like her to sit down with a non
celebrity interviewer, a real reporter that asks her question that
follow on questions. This kumbay Us stuff with you know,
(27:04):
pictures of kids and everything. It's great and I get it,
and I'm not criticizing her for it because it's working
for in the polls. But now we need details and
we don't have any.
Speaker 1 (27:14):
And we don't have any, and it may work with
the lowest common denominator voter. Which brings me back to
CNBC when they were talking about this interview that Kamala
Harris did, and it goes back to the communism aspect
of this.
Speaker 4 (27:27):
Listen to the end of what they say there.
Speaker 8 (27:29):
You know, the whole notion like, if your opponent is
painting you as a communist, maybe don't talk about phrase
controls and price gadging. Last time we did this in
the seventies, you know, when we had the last inflation
scare where Nixon put In took place price and wage controls.
I mean, there were all sorts of disruptions, including shortages.
It didn't end well, and even democratic economists yeah.
Speaker 9 (27:51):
Say, I mean, I don't think there are many who
fully expect they are going to be price controls. By
the way, her opponent has also talked about some things.
Speaker 4 (27:57):
I don't know.
Speaker 1 (27:59):
Look because by the way, I love how CNBC they're
like tries to get her carverer, Like, Wow, I don't
think there's gonna be price controls.
Speaker 4 (28:05):
Then why would you advocate for it? Why would you
say you're going to do it?
Speaker 1 (28:08):
And that's the media's still trying to cover for a
double's at least that guy there at CNBC.
Speaker 4 (28:13):
But listen to the response here real quick.
Speaker 8 (28:15):
Because people are feeling it, and because it probably pulls well,
and because people have had sticker shock.
Speaker 4 (28:21):
And continue to do so, and so I get it.
Speaker 8 (28:23):
You know, it's hard to silver bullet is really going
to be the FED right tightening, bringing inflation back down
and now preserving the job market. But that's that's hard
to explain. So people want a solution, go after the
greedy corporations. We're just we're all about the economics.
Speaker 1 (28:39):
I got to say here, you listen to what they said.
And there's two takeaways from all this. Number one, for me,
it is scary as hell that we live in a
time now where there either is a fifty percent of
the country is so stupid. They don't understand communism and
(29:00):
what it is and price controls, and they don't understand
when they're just flat out being lied to, like that's
option number one, and there's.
Speaker 4 (29:08):
There's option number two. Maybe we the Democrats have won.
Speaker 1 (29:14):
Maybe they've won because they've figured out a way to
take over public education at every level and in one
generation they have allowed for just full blown communism to explode.
With this younger generation. It could be both of those
things combined that have now gotten us to where we
(29:36):
are at this exact moment, and it should scare the
hell out of everybody. But you you have a woman
now that no one voted for in Kamala Harris number one,
who is now giving.
Speaker 4 (29:47):
You eighty what is it?
Speaker 1 (29:49):
Two pages of total crap that is not a policy
on any issue. It's all generalities in Kumbaiiism. There's no
specific and they're passing it off as a policy. That's
not a policy, it's not even close to a policy.
Speaker 4 (30:10):
And that is another problem.
Speaker 1 (30:13):
Make sure you share this podcast with your family and
your friends, please, so people know what's going on with
Kamala Harris and this economic fake policy.
Speaker 4 (30:20):
Without you, guys, people don't hear this show.
Speaker 1 (30:22):
So thank you for listening and sharing it, and I'll
see it back here tomorrow