Doug Schoen: Trump Will Look Better and Better if the Economy Looks Worse and Worse

ASMAN disappointing jobs report ░░░░░░░░ wins the election could ░░░░░░░░ dealing with a recession ░░░░░░░░ who has a better ░░░░░░░░ for getting us through ░░░░░░░░ hard times Wall Street ░░░░░░░░ editorial board member Bill ░░░░░░░░ and former Clinton advisor ░░░░░░░░ a truly moderate Democrat ░░░░░░░░ Doug Schoen are here ░░░░░░░░ talk this over and ░░░░░░░░ re both good friends ░░░░░░░░ to see you both ░░░░░░░░ you very much Bill ░░░░░░░░ Harris wants to raise ░░░░░░░░ It s pretty clear ░░░░░░░░ know some taxes she ░░░░░░░░ to lower She s ░░░░░░░░ it She may her ░░░░░░░░ is still a work ░░░░░░░░ progress so we don ░░░░░░░░ know exactly but this ░░░░░░░░ what we ve seen ░░░░░░░░ far A lot of ░░░░░░░░ are going up The ░░░░░░░░ thing you want to ░░░░░░░░ in a recession is ░░░░░░░░ taxes MCGURN Well except ░░░░░░░░ Democrats It seems like ░░░░░░░░ first thing you want ░░░░░░░░ do that It comes ░░░░░░░░ re not even I ░░░░░░░░ pretending that will have ░░░░░░░░ consequences It s more ░░░░░░░░ moral thing You know ░░░░░░░░ you ask them what ░░░░░░░░ a fair rate or ░░░░░░░░ share they never give ░░░░░░░░ a rate like 23 ░░░░░░░░ or 40 percent You ░░░░░░░░ what the answer is ░░░░░░░░ s always the same ░░░░░░░░ than what it is ░░░░░░░░ always want more and ░░░░░░░░ re just blind to ░░░░░░░░ to the consequences of ░░░░░░░░ I mean when Trump ░░░░░░░░ the corporate tax rates ░░░░░░░░ the inversions for overseas ░░░░░░░░ gave people a real ░░░░░░░░ crosstalk ASMAN Inversion simply ░░░░░░░░ that people pick up ░░░░░░░░ move if the taxes ░░░░░░░░ too high MCGURN I ░░░░░░░░ there s no idea ░░░░░░░░ we re in a ░░░░░░░░ world for capital and ░░░░░░░░ rates are part of ░░░░░░░░ ASMAN Yes Well Doug ░░░░░░░░ are one of the ░░░░░░░░ Democrats who are my ░░░░░░░░ who understand that incentives ░░░░░░░░ and disincentives matter And ░░░░░░░░ you raise taxes for ░░░░░░░░ that is a disincentive ░░░░░░░░ an incentive You don ░░░░░░░░ want to do that ░░░░░░░░ a recession right SCHOEN ░░░░░░░░ don t and I ░░░░░░░░ t think my party ░░░░░░░░ One of our most ░░░░░░░░ initiatives that we ve ░░░░░░░░ David in the Clinton ░░░░░░░░ was cutting the capital ░░░░░░░░ tax I think it ░░░░░░░░ in 97 ASMAN Absolutely ░░░░░░░░ if I remember which ░░░░░░░░ an economic boom The ░░░░░░░░ market went up and ░░░░░░░░ s approval went up ░░░░░░░░ Bingo SCHOEN I think ░░░░░░░░ is sadly correct The ░░░░░░░░ thing Democrats always say ░░░░░░░░ the rich need to ░░░░░░░░ more And look to ░░░░░░░░ facts if you tax ░░░░░░░░ rich more there s ░░░░░░░░ economic activity and less ░░░░░░░░ And what you need ░░░░░░░░ a recession is more ░░░░░░░░ and investment So I ░░░░░░░░ the answer to your ░░░░░░░░ question is regrettably for ░░░░░░░░ as a Democrat Trump ░░░░░░░░ look better and better ░░░░░░░░ the economy looks worse ░░░░░░░░ worse ASMAN All right ░░░░░░░░ Bill first of all ░░░░░░░░ Shoen for president I ░░░░░░░░ just putting that out ░░░░░░░░ I m going to ░░░░░░░░ a bumper sticker but ░░░░░░░░ s exactly right And ░░░░░░░░ just saw it proven ░░░░░░░░ when Donald Trump lowered ░░░░░░░░ rates we saw an ░░░░░░░░ in the percent of ░░░░░░░░ tax paid by the ░░░░░░░░ one percent The top ░░░░░░░░ percent went from paying ░░░░░░░░ percent of all income ░░░░░░░░ to 45 percent So ░░░░░░░░ is absolutely right that ░░░░░░░░ when you lower taxes ░░░░░░░░ everybody including the rich ░░░░░░░░ rich end up paying ░░░░░░░░ MCGURN That s a ░░░░░░░░ factor The flip side ░░░░░░░░ that which is equally ░░░░░░░░ I think economists agree ░░░░░░░░ the capital gains tax ░░░░░░░░ business is paid by ░░░░░░░░ in foreign lower wages ░░░░░░░░ stuff So they say ░░░░░░░░ re taxing the rich ░░░░░░░░ the wealthy and big ░░░░░░░░ but they re really ░░░░░░░░ a raw deal to ░░░░░░░░ for this It s ░░░░░░░░ fake populism And like ░░░░░░░░ lot of fake populism ░░░░░░░░ has bad results for ░░░░░░░░ working people Doug was ░░░░░░░░ right ASMAN Well Doug ░░░░░░░░ you having any input ░░░░░░░░ all with the Harris ░░░░░░░░ in terms of getting ░░░░░░░░ ideas in there because ░░░░░░░░ far we just heard ░░░░░░░░ things like price controls ░░░░░░░░ raising taxes SCHOEN David ░░░░░░░░ think I m among ░░░░░░░░ last people that they ░░░░░░░░ want to hear from ░░░░░░░░ politics or economics even ░░░░░░░░ substantively and I appreciate ░░░░░░░░ kind words substantively her ░░░░░░░░ are bad They re ░░░░░░░░ politics and ultimately if ░░░░░░░░ loses the race narrowly ░░░░░░░░ you have on the ░░░░░░░░ now could well be ░░░░░░░░ reason why ASMAN Wow ░░░░░░░░ Bill Donald Trump has ░░░░░░░░ own set of problems ░░░░░░░░ a lot of people ░░░░░░░░ the editorial page of ░░░░░░░░ Wall Street Journal has ░░░░░░░░ them out in detail ░░░░░░░░ he tried to sell ░░░░░░░░ economic ideas to a ░░░░░░░░ crowd New York City ░░░░░░░░ people not all of ░░░░░░░░ like Donald Trump How ░░░░░░░░ you think he did ░░░░░░░░ I think he did ░░░░░░░░ well Look I don ░░░░░░░░ agree with all Donald ░░░░░░░░ s ideas on economics ░░░░░░░░ tariffs and so forth ░░░░░░░░ the kind of protectionist ░░░░░░░░ to it and the ░░░░░░░░ like no taxes on ░░░░░░░░ I think he should ░░░░░░░░ pushing for a flat ░░░░░░░░ rather than that if ░░░░░░░░ if she wants to ░░░░░░░░ make it easier for ░░░░░░░░ But I think what ░░░░░░░░ was saying the more ░░░░░░░░ doesn t have to ░░░░░░░░ perfect he just has ░░░░░░░░ be better than Kamala ░░░░░░░░ and she continues to ░░░░░░░░ out things that are ░░░░░░░░ awful And I think ░░░░░░░░ ll look better by ░░░░░░░░ at least believes in ░░░░░░░░ growth and opportunity ASMAN ░░░░░░░░ Doug if if Kamala ░░░░░░░░ is listening right now ░░░░░░░░ got to tell her ░░░░░░░░ might might help her ░░░░░░░░ I got to tell ░░░░░░░░ if she wants to ░░░░░░░░ a better chance of ░░░░░░░░ she should listen to ░░░░░░░░ you say because it ░░░░░░░░ right on to me ░░░░░░░░ that s just me ░░░░░░░░ great to see you ░░░░░░░░ Thank you SCHOEN Thank ░░░░░░░░ very much Appreciate the ░░░░░░░░ words.”

ASMAN: “Absolutely.”