>> better, cheaper, more abundant and available than before. >> i can't wait. and that's our show. thank you for . >> start taxing, goods coming from china. john: every day, politicians propose more rules. >> i'm very supportive of the mayor's proposal to tax sodas. john: unions love groups, they say they want, but are the protesters the real deal? >> i do not work for a fast-food restaurant. >> which fast-food restaurant do you work for? >> i don't work for fast food. john: bad rules give us warning labels. >> this may contain fish, warning. john: some bad rules rip children from the only families

they've known, others with pointless red tape. >> 50 pages. >> bad rules. that's our show tonight. [applause] . john: this is what built america, the declaration of independence and the constitution. it's thin, yet these rules which put limits on government, created the most prosperous and successful country in the history of the world, but after the founders gave us this, someone said we need more rules. and now we did need some, this wasn't perfect. this allowed for slavery. founders never thought about pollution control, so good some rules were added and changed. but 164,000 of them? that's how many had accumulated by the time president obama

took office. so the president said this -- >> i believe a thriving private sector is the life blood of our economy. i think there are outdated regulations that need to be changed. there is red tape that needs to be touched. [applause] >> there you go. yeah. john: yes, it's true, and everybody loves that, but then, what did the president actually do? he cut a couple of regulations, now salmon are no longer regulated by different bureaucracies depending whether they were caught in salt or fresh water and added 10,000 new pages, new rules. now we're stuck. this is just the amount the president added. now we have 178,000 pages of rules. rules all of us must obey, and not just 178,000 pages. state and local governments add more, and that's okay says

radio host chris hahn, we all benefit greatly from regulation, but economist ed stringam said hahn doesn't get it. what doesn't he get? >> the cost of regulations are out of control. written by administrative bodies. john: so what, they're all well intended. >> i read the best book, war and peace, the number of pages associated with dodd-frank act is 25 times longer than this. mr. dodd or frank never read this book. >> i got to tellture, was the worst of times that led to dodd-frank, you should understand that, and we needed to do something about what was going on there. >> is that a useful thing, 25 times that many pages. >> when you are talking about the financial services industry and armies of lawyers, i would think dodd-frank might not be long enough. >> do you know bernanke could not refinance his home.

>> bernanke had a very big home and working on a government salary. i think it was okay. john: chris, you worked five years for senator chuck schumer. >> almost six. john: almost six. >> [booing] >> i'm getting booed by people who waited in line to get tickets to see me. john: he holds a press conference just about every weekend, he figures he gets more air time on the weekends and proposes banning something. he's proposed banning bitcoins, energy drinks, assault weapons. high-frequency stock trading, caffeine drinks, powdered alcohol because somebody brought it on the airplane. >> one of the best senators new york is lucky to have him. john: he's the reason people suffer from lack of innovation. >> absolutely not true. john: why should bitcoins be banned? . >> i don't know, i didn't read it. john: it's the idea that if you

don't understand something, the government needs to prevent it. john: how about laser pointers? >> i don't know, don't point them at planes. john: our likely next president, hillary, is a big fan of regulation, when philadelphia's mayor proposed a new tax on soda, ms. clinton was quick to praise it. >> i'm very supportive of the mayor's proposal to tax soda. john: should we tax soda? >> no! >> why not? people are fat. >> isn't there a cost to people overusing soda? >> the most bloated organization out there, you want managing our diet. terrible advice about don't eat fat, have carbs, go for high carbs, switch back, don't eat butter, it's margarine. >> i think health decisions should be left between a doctor and patient. that said, there are things that are going to make you fat. we know if you drink five

sugary sodas a day, you're more likely to be fat than if you drink five waters a day. john: people know that, why can't they make their own decision. >> they can. why do i have to pay for their bad choices. this is a big argument for the banners. because we have socialized medicine, we have a right to control what they eat. >> right, once you get government involved with any of the decisions, it's like now we need to do that, need to do that, it's like, okay, restrict everything we do. let's have them decide what we're eating for breakfast or lunch, what time we go to bed. tax people who stay up late. let's tax all of our bad habits. [ applause ] >> it's not just the democratic nominee who wants to reg late. here's a rule proposed by donald trump. >> i would certainly start taxing goods that come in from china. >> people like this, this is helped him become popular among republicans, you both agree that this is nuts.

>> terrible, terrible, terrible, terrible. bad for consumers, also bad for american manufacturers. look at ford. john: that is counterintuitive. keep the stuff out and american manufacturers will have them. >> ford designs cars here, up to 35% of mustang components are not here. we want to hobble them with the additional tariffs. this is a proposal that would make toyota great again. [laughter] >> this is something every economist, even the most left-wing friend i met. john: you're a friend now? >> we disagree, but come on. john: on social media, i asked you for examples of stupid fools. joe posted -- i agree with both of them. someone named rick tweeted --

in new jersey also, what's that about? >> one of the best things about new jersey is i don't have to pump my own gas. the prices are low, and i don't have to pump it. >> no, it's cheaper because the tax is three cents in new jersey and 40 cents in new york. >> right, and i don't have to pump it there. john: it would cost ten cents less if you could pump it. this is what galls me about the left-wingers, the way you use the word have. >> i'm a moderate. [ laughter ] >> you don't have to pump your own gas. what about voluntary versus force? >> that's a state regulation. the people of new jersey elect representatives, if they don't like, it elect people who change the law. john: but the legislators are taking money from the service station lobiers. >> from the guy who pumps the gas, you think he's got his own

lobby. john: yeah. >> somebody had a lobby that the only two states are the ones it's not allowed. the original argument is we're so stupid we'd blow ourselves up. in the 48 other states they don't and the two states hang on to it. >> it's up to the state. in a free market you have the full service, the self service and the free market outcompeted the way of doing things -- >> i believe in america where everybody should feel free to have gas-smelling hands all day long whether they want to or not. john: no, you don't. you say you're fine with new jersey, forbidden to have gas on your hands. >> if i lived in new jersey and had a problem with it, i would change that law. john: think about that. he would have to change the law, he would have to get 51% of the people to vote for something. in a free market. all of us can have what we want. isn't that better? >> there's no such thing as a free market. if there was, we wouldn't need so many regulations.

[booing] . john: thank you, ed, chris. now covering regulation over the years, i've noticed that when a president's about to leave office, they do something called a regulation dump. president obama is no exception and one of his more costly new rules will force companies to give more workers overtime pay. >> that will ensure that the hardest working americans are paid fairly for overtime. john: fairness. before the rule was that workers who made less than $23,000 a year must be paid overtime. obama doubled that about $47,000. and this sounds good to people. you work longer, you make time and a half. that sound good to you, audience? they're nodding. my libertarian audience is nodding. this economist studies the hidden side effects of rules like that, and you say -- >> the whole issue with this reg slagz it doesn't look at

effect of all various different sectors. john: meaning what? >> for example, the nonprofits have been vocal about the regulation, and the reason they've been vocal is it's a huge cost to them, they don't have the budget for that. nonprofits in higher education. >> i think in the nonprofit world or education, there are people who want to work long hours. >> they do. they believe in the vision of what they want to accomplish. the same thing is true for -- john: so now the government is saying if you want these people to work for you, you'll have to pay them 50% more, i guess if it's double time, 100% more and a lot of the people never get hired. >> that's right, they can't afford, it john. the same thing is true for tech start-ups. you have the young guys, four young guys, graduated from college, others that didn't graduate from college and don't have money, they get venture capital funding and don't have

a lot of money in the beginning and you're imposing huge costs. they put in 80, 90 hours. john: they might make a lot of money down the road. >> exactly. i've been talking to the young start-ups, they had no idea this was a regulation because they're focused on building something. president obama is looking at you punch in a clock and apply it to a 21st century world. john: are you being sexist when you say four guys start it. >> i'm not. if you look at young tech entrepreneurs, they tend to be guys, sorry. john: i think the point that's missing among the pro regulators is workers are not slaves, it is a voluntary choice. some people want the long hour jobs. >> and they make the choice. i don't understand why we have to make the choice out away from them. i testified about this at the office of information and regulatory commission.

john: you went to the white house? >> i went to the white house and i'm kind of angry, i testified, they liked what i said, they had no idea that the department of labor didn't analyze the impact on tech start-ups and other things but didn't take my advice. john: they went ahead with the rules. >> it's a sore subject and i cried when i heard about the regulation being tossed. >> thank you for trying, hard to convince the white house to be sensible. next, did you know that this, a lightsaber, could not ever be used in an actual battle? stupid as that is. that's what that warning label says. so tonight our audience gets to award a thousand dollars to the person who admitted the worst, stupidest warning label. p?p?h [ clock ticking ]

time. you only have so much. that's why we want to make sure you won't have to wait on hold. and you won't have to guess when we'll turn up. because after all we should fit into your life. not the other way around.

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and now a special treat for you because trish regan is in for lo lou dobbs. >> good evening, everybody, i am trish regan in for lou dobbs tonight. donald trump runs his first television ads of the general election. the campaign hopes the ads will reinvigorate his fight against hillary clinton and lift trump's poll numbers. the message in the first ad is the cornerstone of his campaign. watch. >> change that makes america safe again. donald trump for president. >> i'm donald trump, and i approve this message. >> also, there's another campaign reboot for trump. two key members of his inner circle including paul manafort are out. trump today acted more presidential than the president himself who