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Wall Street Journal Editorial Board Member Stephen Moore on the last jobs report before the presidential election and the political debate over tax fa...
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Final stretch just six days of the election in the tax debate is getting even louder the major battle cry from the left is whether the rich pay enough in taxes.
The Wall Street Journal's Steve -- -- All about this in his brand new super fans had -- buck this.
Who is the fairest of them all I love it's.
-- he breaks on the trip on taxes and even more -- Steve I wanna talk to all about your fantastic book which -- intra quarter immediately.
But first I want to ask you really quickly do you think that superstore stand CNB -- affect the accuracy of Friday's jobs numbers will be an.
Well you know we may see had a slight downturn in jobs numbers as a result the storm because of players aren't hiring -- -- while there's a big storm going on back.
-- I think the big story on that jobs report on Friday I think it's you my guess I mean as we can be one of the most important jobs reports.
In American history.
-- because it could decide the outcome of this important election.
It if we see Vietnam unemployment rate go back up above 8% which I think it could Muster because you don't -- that.
A kind of artificial bump up in the number of jobs you know nobody believes we created at 800000 jobs last month there was a blood and I think gives you get the kind of correction.
For that -- numbers that could bring out of pottery back up 8% and that's one thing Obama -- a -- is an 88 next to that unemployment number.
Yeah I mean there were those 759000.
People that somehow magically found a job and -- -- -- number but didn't show up on payrolls I wasn't sure how that happened.
But I wanted to get your nobody knows how -- because it is so fantastic.
It talks all about fairness which I love because that is such a loaded phrase in America right now and I'm glad you -- in on next one of the reasons are really bothers me.
Is is who decides what is fair it's such a subjective word I don't want politicians in Washington deciding -- -- I don't.
Necessarily think that they're they're not my moral gauge that that I know compass.
But they shouldn't be -- other really the -- the reason I wrote the book is because it's you know we knew that -- months and months before the election that the fundamental theme of Obama was going to be class division in class warfare and and the -- fairness -- And that the point of the book you know I -- let -- rule on the conclusion how the -- but there really is that they -- free enterprise system.
As you novelists say it's the one that creates that.
The system that creates the most jobs in the most in common opportunity that and -- this in my opinion the fairest of them on the you look at other countries that have.
You know -- stuff free market systems they -- less fair than the United States not Warsaw.
Yeah I mean it so the argument the free market folks make is that what we're looking for is equality of opportunity nice polity outcome.
And that we don't want him redistribute income but President Obama would -- -- responds many times.
But you know that the people with a great outcome a lot of times they've gotten the lucky breaks you know that's not -- they've that they've been lucky they've had people helping them along the way.
There are other folks who haven't been as lucky.
And you know by virtue of locked in your life isn't fair writer -- -- tried to mix that in.
Well look I mean is it is it fair that Koreans -- -- seven feet wide and I'm.
Five foot eleven I mean there's all sorts of you know genetic unfairness is -- things like that.
But you know the point is that dot.
You know there's an old saying that die hard work creates a lot of Locke and I think that's true you know people take rest people work hard people who do the right thing study -- Those are the people who kind of make their own -- in that's true and in sports it's true in light that's true in business and so.
I of course there's unfairness of life it's sad and unfair that.
You know some people are are short and others are -- some people are.
Born into a rich family other survey born into a -- -- like we generally hit the nail on on -- -- I think the fundamental thing we strive for an America.
Is that everyone has an equal opportunity and and we know that that's not the case but that's what we want not equality of outcome that's Cambodia are right.
We want everyone to have -- quote fair shot and and that's something we all strive for and by the way that begins I think with fixing the family structure in America but also.
Fixing the schools because a lot of low income kids are stuck in terrible schools that you and I would never send their kids to -- Eight if we're striving for a fairness or -- equality of opportunity.
As opposed outcome does re distributing income or taxing the wealthy even more -- that does that help and they get us closer to an equality of our.
Noted that that's the 1 of the central themes of the book -- is actually when we've raise tax rates in the past and actually stifles opportunity because it.
It reduces risk taking and reduces business and -- spent on hiring and that that obviously.
Hurts the middle class and by the way conversely one of my favorite chapters in the book.
I go through the 1920s in the sixties and eighties and 2000 in the two thousands when -- found is every time we cut tax rates like never obvious talking about now.
Two things happened Melissa that growth rate of the economy one -- that's a good -- this other thing even more surprisingly as the tax rates doll.
The share -- taxes paid by the rich increased yeah I love about.
Steve it is -- manageable -- yeah.
It's brilliance is contained and a -- package seen him get through the whole thing thank you so much thanks coming on the show good luck with the bike sponsor picked up so he.
