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

dealers at the expense of other merchants. Another report showed wholesale prices unexpectedly fell in July by the most and almost a year, a sign that inflation is likely to stay muted, which, like the markets, every fifteen minutes throughout the trading day down. Industrial leverage is down forty three points a quarter percent, trading at eighteen thousand, five hundred sixty nine, SMP five hundred, down three points an eighth

of a percent at two. The NASDAC is starting to bounce between games and losses, currently unchanged at fifty two eight. And that's a Bloomberg business flash. You're with Kathleen on Bluebird Radio. Matt Miller here filling in for Kathleen Hayes with Pim Fox on taking stock. We are gonna dive into the world of politics via taxes right now. He brought in Mike Nitza's executive editor for Bloomberg Politics and the Clintons. Mike put out their tax returns for two

thousand fifteen today. We know we've seen the Clinton's tax returns since the seventies or back to the seventies, but today we learned they made another eleven million dollars, paid thirty and gave away about ten percent to charity. That's yeah, that's true. They finally checked this box. It's a traditional

one for presidential candidates to check. And uh yeah. It hasn't created uh that much talk today because it was so so well, not not so much talk about the Clintons, but it kind of points to Donald Trump because makes you wonder how much money did Donald Trump make? I mean, the Clintons have made a hundred fifty million since two thousand seven. He's he done better? How much does he pay in taxes? They've paid about a third of all that money to taxes. Has he paid that much? Um?

They give away almost ten percent of their income. Does he do that? Yeah, it definitely is. There's a there's a very political um and to this release of the taxes that Trump has said again and again that he can't release his taxes because he's under an i R S audit um. It's one of the most disciplined repeated messages from the campaign. UH. Paul Mana for his campaign chief, has said. UH has said that the only people that want to see the taxes are Trump's enemies, so they

don't really see upsides or releasing them. And UH, it's and they've set no deadline for when they could do it before the election. Have you guys at Bloomberg Politics, have you talked to anybody at the I R S and asked them if there are rules prohibiting releasing your tax returns if you're under audit there it's been reported that there are no rules thereis has said said that you can release your taxes well and drawed it. It's just something that Trump has chosen not to do. But

can he release his tax returns from previous years? And that too, H's it's totally within his control to release his taxes for previous years and also taxes. UH and this most current one. Is it a possibility that Donald Trump pays no tax? Well, the New York Times ran a very interesting story today interviewing various tax experts saying that that that is true, and that has been true in the past. Uh in in some some years ago,

he paid zero tax taxes uh for the year. It's so interesting because Donald Trump has made one of the platforms of his campaign. One of the planks in his platform, I should say that he's against inversions because he doesn't like it when people avoid taxes. Um, even though he has no problem with obviously with bankruptcy, which he loves to file bankruptcy. And uh, apparently he's not going to

tell us whether or not he's inverting to avoid taxes. Well, he's he's uh been able to navigate that kind of contradiction in the past in his campaign. He's been able to say, you know, I've taken advantage of the rules that that are in place right now, whether it's bankruptcies or or other things. And and I know the system

really well. And that's what made me a rich man, and that's what makes me uh most qualified to be president because I know the rules and I know how to fix them, and I know how to leave the nation to UH to greatness. As he says, Let's turn our attention now to some of the polling that has been done specifically in states such as Colorado, North Carolina, and Virginia. This all demonstrates what that Hillary Clinton is ahead of the polls she's definitely had in nationally and

also in UH in a lot of important battlegrounds. And I think the most interesting UH conclusion I draw from this today is UH is it wasn't too long ago before the conventions that UH that Trump's Paine was really be betting on a strategy of winning the rust belt, going in winning Ohio, Pennsylvania, UM. And that was that was a place that was particularly receptive to to his message about about jobs being killed because of trade treaties.

It was interesting yesterday when Hillary Clinton gave her economics UM plan in Warren, Michigan. I believe she was at like a rocket factory. UM. She had even bigger American flags than Donald Trump has had in the past, and she seemed to be painting this picture that she wanted to bring us back to like a manufacturing economy UM.

And she seemed to be almost as protectionists as Donald Trump. Yeah, she's definitely uh come come uh a long way from being supportive of of deals like the t p P, which she never said that she would back, but but

said complimentary things about it. Um. And I think what you're seeing, uh in the language that she's using on the trail is is uh she's she's talking about growing jobs, and she's talking about bringing uh, bringing jobs back to the country, but she's talking about them in terms of the future what jobs should should rebuild rather than what jobs, uh we should save. And but she's I mean, yesterday she seemed to be obviously panting, pandering to this rocket crowd.

And that makes me think of like jobs from the fifties, right. It was a future Ramic Future Ramic was the name of the company, and they make very highly machine parts and tools and dies for the space industry. One of the biggest customers is NASA. Just so so that that was a very carefully chosen location because of that, like that that you could see that industry growing in some you know, in some hopeful future where we're exploring space and and a lot of jobs are are being dedicated

to that effort. Tell us a little bit about Donald Trump and the relationship of his campaign to those of other Republicans who are running. Specifically, I was looking at Colorado, right, because there's an incumbent Democrat, Michael Bennett, he's the Senator. He's got a fifteen point lead over his Republican challenger. Yeah, so this is really a major breaking point for the campaign when it comes to when you look at these polls you've uh, you know, the first thing you see

is that Donald Trump has some problems. But but voters tend to vote down the ticket and and look at uh and if they're not excited about the candidate at the top, they won't show up for the ones beneath that. And so that's that's something that is at the core of the tensions between the Republican National Committee and the

Trump campaign. That Trump is raising helping raising money for those campaigns, and but the things he's doing to generate bad press for Republicans in general are definitely are definitely harmful to those other races. Also North Carolina. Yeah, North Carolina is the state that Obama one in two thousand eight, lost in two thousand uh in two thousand twelve, and he and he uh and it is trending Democrat. But it was definitely in the in the toss up category

on everyone's maps. But today it's uh, it's just a huge leading. It's starting to look very solid for Hillary Clinton. And what that does is that opens up the map in different ways. So while Trump was hoping to win the rust Belt and then uh and then get to the White House, uh, he could he could win the rust Belt and then UH and still lose the election because Hillary Clinton has way far more ways to win this election than he does. So obviously, UM, so far,

calling out Trump has been a really bad call. I mean, I've noticed five thirty eight was telling me for months and months that he would never win UM, that the Republican nomination, and of course here we are. However, I have heard at least three people in the last week tell me that Donald Trump could actually drop out of this race, including Peter Atwater from Financial Insights. UM. Are you hearing that more and more? Am I just listening to UM all the right programs? Yeah? I really that's

hard to take seriously at this point. I think he's uh, you know it it. I think it speaks to the enormous pressure that any presidential candidate is under especially when they're facing a steep climb to be competitive in a race. I mean, there's there are whole books written about John McCain's struggle to to uh get up every day and hit the campaign trail when he knew he was down so much that he he couldn't possibly win. So so I think that would win any candidate. It definitely weighs

on Donald Trump. I mean, we can't forget that Donald Trump was ahead in the polls just two weeks ago. It's not like the guy's been down for months and months, right, Yeah, And he I think he is confident in some things. He can show up every day to uh, you know, to a rally where over ten thousand people are there and very pumped to be supporting him, And that's definitely a sign of life that you don't see on the

other on the other side of this race. And so he they draw a lot of confidence from that, and um, and they hope to tap it to to win these battle grounds. Mike, Uh, you know, I know that everyone's focused on the presidential race, but we've also got a race for House and Senate seats. Mitch McConnell coming out and saying that he might not be the majority leader because there are twenty four GOP seats on the ballot. Is it possible we're going to see a Democrat Senate

as well as gains in the House. Uh yeah, I mean, if you're hearing it from Mitch McConnell, you could you can bet that it's a possibility. He's he's nervous, A lot of individual senators are nervous and uh, and that is definitely a nightmare scenario for Republicans. I want to thank you very much for coming in and spending time with us. You're gonna have a busy couple of months,

I know. Thanks. Mike meets that he is an executive editor for Bloomberg Politics, giving us the details of the race as it is and the polls that have been taking place to see whether indeed Hillary Clinton can outpace Donald Trump, the Republican contender. Alright, it is twelve fifty seven on Wall Street. We are watching markets that continue to churn down, down across down about four points SMP five hundred, down about four points one. Right now, this is Bloomberg. M