Latest / Bloomberg Intelligence / Bloomberg's Nizza on Clinton Tax Return, Trump Polls (Audio)

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Bloomberg's Nizza on Clinton Tax Return, Trump Polls (Audio) · Bloomberg Intelligence

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  Speaker 1: And that's a Bloomberg business flash. You're with Kathleen on
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  Speaker 1: Bluebird Radio. Matt Miller here filling in for Kathleen Hayes
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  Speaker 1: with Pim Fox on taking stock. We are gonna dive
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  Speaker 1: into the world of politics via taxes right now. He
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  Speaker 1: brought in Mike Nitza's executive editor for Bloomberg Politics and
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  Speaker 1: the Clintons. Mike put out their tax returns for two
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  Speaker 1: thousand fifteen today. We know we've seen the Clinton's tax
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  Speaker 1: returns since the seventies or back to the seventies, but
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  Speaker 1: today we learned they made another eleven million dollars, paid
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  Speaker 1: thirty and gave away about ten percent to charity. That's yeah,
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  Speaker 1: that's true. They finally checked this box. It's a traditional
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  Speaker 1: one for presidential candidates to check. And uh yeah. It
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  Speaker 1: hasn't created uh that much talk today because it was
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  Speaker 1: so so well, not not so much talk about the Clintons,
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  Speaker 1: but it kind of points to Donald Trump because makes
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  Speaker 1: you wonder how much money did Donald Trump make? I mean,
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  Speaker 1: the Clintons have made a hundred fifty million since two
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  Speaker 1: thousand seven. He's he done better? How much does he
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  Speaker 1: pay in taxes? They've paid about a third of all
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  Speaker 1: that money to taxes. Has he paid that much? Um?
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  Speaker 1: They give away almost ten percent of their income. Does
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  Speaker 1: he do that? Yeah, it definitely is. There's a there's
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  Speaker 1: a very political um and to this release of the
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  Speaker 1: taxes that Trump has said again and again that he
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  Speaker 1: can't release his taxes because he's under an i R
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  Speaker 1: S audit um. It's one of the most disciplined repeated
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  Speaker 1: messages from the campaign. UH. Paul Mana for his campaign chief,
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  Speaker 1: has said. UH has said that the only people that
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  Speaker 1: want to see the taxes are Trump's enemies, so they
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  Speaker 1: don't really see upsides or releasing them. And UH, it's
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  Speaker 1: and they've set no deadline for when they could do
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  Speaker 1: it before the election. Have you guys at Bloomberg Politics,
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  Speaker 1: have you talked to anybody at the I R S
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  Speaker 1: and asked them if there are rules prohibiting releasing your
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  Speaker 1: tax returns if you're under audit there it's been reported
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  Speaker 1: that there are no rules thereis has said said that
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  Speaker 1: you can release your taxes well and drawed it. It's
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  Speaker 1: just something that Trump has chosen not to do. But
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  Speaker 1: can he release his tax returns from previous years? And
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  Speaker 1: that too, H's it's totally within his control to release
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  Speaker 1: his taxes for previous years and also taxes. UH and
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  Speaker 1: this most current one. Is it a possibility that Donald
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  Speaker 1: Trump pays no tax? Well, the New York Times ran
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  Speaker 1: a very interesting story today interviewing various tax experts saying
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  Speaker 1: that that that is true, and that has been true
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  Speaker 1: in the past. Uh in in some some years ago,
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  Speaker 1: he paid zero tax taxes uh for the year. It's
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  Speaker 1: so interesting because Donald Trump has made one of the
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  Speaker 1: platforms of his campaign. One of the planks in his platform,
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  Speaker 1: I should say that he's against inversions because he doesn't
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  Speaker 1: like it when people avoid taxes. Um, even though he
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  Speaker 1: has no problem with obviously with bankruptcy, which he loves
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  Speaker 1: to file bankruptcy. And uh, apparently he's not going to
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  Speaker 1: tell us whether or not he's inverting to avoid taxes. Well,
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  Speaker 1: he's he's uh been able to navigate that kind of
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  Speaker 1: contradiction in the past in his campaign. He's been able
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  Speaker 1: to say, you know, I've taken advantage of the rules
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  Speaker 1: that that are in place right now, whether it's bankruptcies
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  Speaker 1: or or other things. And and I know the system
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  Speaker 1: really well. And that's what made me a rich man,
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  Speaker 1: and that's what makes me uh most qualified to be
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  Speaker 1: president because I know the rules and I know how
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  Speaker 1: to fix them, and I know how to leave the
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  Speaker 1: nation to UH to greatness. As he says, Let's turn
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  Speaker 1: our attention now to some of the polling that has
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  Speaker 1: been done specifically in states such as Colorado, North Carolina,
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  Speaker 1: and Virginia. This all demonstrates what that Hillary Clinton is
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  Speaker 1: ahead of the polls she's definitely had in nationally and
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  Speaker 1: also in UH in a lot of important battlegrounds. And
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  Speaker 1: I think the most interesting UH conclusion I draw from
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  Speaker 1: this today is UH is it wasn't too long ago
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  Speaker 1: before the conventions that UH that Trump's Paine was really
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  Speaker 1: be betting on a strategy of winning the rust belt,
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  Speaker 1: going in winning Ohio, Pennsylvania, UM. And that was that
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  Speaker 1: was a place that was particularly receptive to to his
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  Speaker 1: message about about jobs being killed because of trade treaties.
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  Speaker 1: It was interesting yesterday when Hillary Clinton gave her economics
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  Speaker 1: UM plan in Warren, Michigan. I believe she was at
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  Speaker 1: like a rocket factory. UM. She had even bigger American
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  Speaker 1: flags than Donald Trump has had in the past, and
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  Speaker 1: she seemed to be painting this picture that she wanted
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  Speaker 1: to bring us back to like a manufacturing economy UM.
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  Speaker 1: And she seemed to be almost as protectionists as Donald Trump. Yeah,
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  Speaker 1: she's definitely uh come come uh a long way from
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  Speaker 1: being supportive of of deals like the t p P,
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  Speaker 1: which she never said that she would back, but but
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  Speaker 1: said complimentary things about it. Um. And I think what
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  Speaker 1: you're seeing, uh in the language that she's using on
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  Speaker 1: the trail is is uh she's she's talking about growing jobs,
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  Speaker 1: and she's talking about bringing uh, bringing jobs back to
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  Speaker 1: the country, but she's talking about them in terms of
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  Speaker 1: the future what jobs should should rebuild rather than what jobs,
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  Speaker 1: uh we should save. And but she's I mean, yesterday
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  Speaker 1: she seemed to be obviously panting, pandering to this rocket crowd.
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  Speaker 1: And that makes me think of like jobs from the fifties, right.
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  Speaker 1: It was a future Ramic Future Ramic was the name
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  Speaker 1: of the company, and they make very highly machine parts
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  Speaker 1: and tools and dies for the space industry. One of
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  Speaker 1: the biggest customers is NASA. Just so so that that
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  Speaker 1: was a very carefully chosen location because of that, like
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  Speaker 1: that that you could see that industry growing in some
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  Speaker 1: you know, in some hopeful future where we're exploring space
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  Speaker 1: and and a lot of jobs are are being dedicated
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  Speaker 1: to that effort. Tell us a little bit about Donald
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  Speaker 1: Trump and the relationship of his campaign to those of
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  Speaker 1: other Republicans who are running. Specifically, I was looking at Colorado, right,
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  Speaker 1: because there's an incumbent Democrat, Michael Bennett, he's the Senator.
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  Speaker 1: He's got a fifteen point lead over his Republican challenger. Yeah,
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  Speaker 1: so this is really a major breaking point for the
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  Speaker 1: campaign when it comes to when you look at these
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  Speaker 1: polls you've uh, you know, the first thing you see
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  Speaker 1: is that Donald Trump has some problems. But but voters
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  Speaker 1: tend to vote down the ticket and and look at
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  Speaker 1: uh and if they're not excited about the candidate at
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  Speaker 1: the top, they won't show up for the ones beneath that.
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  Speaker 1: And so that's that's something that is at the core
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  Speaker 1: of the tensions between the Republican National Committee and the
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  Speaker 1: Trump campaign. That Trump is raising helping raising money for
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  Speaker 1: those campaigns, and but the things he's doing to generate
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  Speaker 1: bad press for Republicans in general are definitely are definitely
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  Speaker 1: harmful to those other races. Also North Carolina. Yeah, North
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  Speaker 1: Carolina is the state that Obama one in two thousand eight,
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  Speaker 1: lost in two thousand uh in two thousand twelve, and
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  Speaker 1: he and he uh and it is trending Democrat. But
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  Speaker 1: it was definitely in the in the toss up category
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  Speaker 1: on everyone's maps. But today it's uh, it's just a
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  Speaker 1: huge leading. It's starting to look very solid for Hillary Clinton.
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  Speaker 1: And what that does is that opens up the map
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  Speaker 1: in different ways. So while Trump was hoping to win
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  Speaker 1: the rust Belt and then uh and then get to
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  Speaker 1: the White House, uh, he could he could win the
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  Speaker 1: rust Belt and then UH and still lose the election
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  Speaker 1: because Hillary Clinton has way far more ways to win
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  Speaker 1: this election than he does. So obviously, UM, so far,
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  Speaker 1: calling out Trump has been a really bad call. I mean,
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  Speaker 1: I've noticed five thirty eight was telling me for months
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  Speaker 1: and months that he would never win UM, that the
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  Speaker 1: Republican nomination, and of course here we are. However, I
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  Speaker 1: have heard at least three people in the last week
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  Speaker 1: tell me that Donald Trump could actually drop out of
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  Speaker 1: this race, including Peter Atwater from Financial Insights. UM. Are
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  Speaker 1: you hearing that more and more? Am I just listening
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  Speaker 1: to UM all the right programs? Yeah? I really that's
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  Speaker 1: hard to take seriously at this point. I think he's uh,
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  Speaker 1: you know it it. I think it speaks to the
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  Speaker 1: enormous pressure that any presidential candidate is under especially when
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  Speaker 1: they're facing a steep climb to be competitive in a race.
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  Speaker 1: I mean, there's there are whole books written about John
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  Speaker 1: McCain's struggle to to uh get up every day and
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  Speaker 1: hit the campaign trail when he knew he was down
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  Speaker 1: so much that he he couldn't possibly win. So so
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  Speaker 1: I think that would win any candidate. It definitely weighs
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  Speaker 1: on Donald Trump. I mean, we can't forget that Donald
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  Speaker 1: Trump was ahead in the polls just two weeks ago.
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  Speaker 1: It's not like the guy's been down for months and months, right, Yeah,
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  Speaker 1: And he I think he is confident in some things.
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  Speaker 1: He can show up every day to uh, you know,
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  Speaker 1: to a rally where over ten thousand people are there
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  Speaker 1: and very pumped to be supporting him, And that's definitely
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  Speaker 1: a sign of life that you don't see on the
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  Speaker 1: other on the other side of this race. And so
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  Speaker 1: he they draw a lot of confidence from that, and um,
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  Speaker 1: and they hope to tap it to to win these
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  Speaker 1: battle grounds. Mike, Uh, you know, I know that everyone's
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  Speaker 1: focused on the presidential race, but we've also got a
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  Speaker 1: race for House and Senate seats. Mitch McConnell coming out
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  Speaker 1: and saying that he might not be the majority leader
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  Speaker 1: because there are twenty four GOP seats on the ballot.
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  Speaker 1: Is it possible we're going to see a Democrat Senate
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  Speaker 1: as well as gains in the House. Uh yeah, I mean,
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  Speaker 1: if you're hearing it from Mitch McConnell, you could you
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  Speaker 1: can bet that it's a possibility. He's he's nervous, A
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  Speaker 1: lot of individual senators are nervous and uh, and that
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  Speaker 1: is definitely a nightmare scenario for Republicans. I want to
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  Speaker 1: thank you very much for coming in and spending time
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  Speaker 1: with us. You're gonna have a busy couple of months,
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  Speaker 1: I know. Thanks. Mike meets that he is an executive
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  Speaker 1: editor for Bloomberg Politics, giving us the details of the
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  Speaker 1: race as it is and the polls that have been
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  Speaker 1: taking place to see whether indeed Hillary Clinton can outpace
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  Speaker 1: Donald Trump, the Republican contender. Alright, it is twelve fifty
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  Speaker 1: seven on Wall Street. We are watching markets that continue
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  Speaker 1: to churn down, down across down about four points SMP
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  Speaker 1: five hundred, down about four points one. Right now, this
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  Speaker 1: is Bloomberg. M