great way to start the day. cheryl: any time you want to join us at 5:00 a.m. in the morning, come on set. connell: thank you for doing this today. appreciate it. always good to see you. over to "bulls & bears" with david asman and the crew. capitalism needs to be reformed. it doesn't need to be abandoned. >> we can call it a wealth gap, we can call it an income gap. if i was the president of the united states, it has to come from the top, what i would do is recognize that this is a national emergency. david: the fight about capitalism continues. now with the founder of the most successful hedge fund in the world, ray dalio, declaring the country's wealth gap a national emergency. and more 2020 democrat hopefuls are now jumping on this wagon. former starbucks ceo and potential independent candidate howard schultz weighing in on this issue this afternoon with liz claman. we will bring you that as well.

this is "bulls & bears." i'm david asman. welcome today. joining me, kristina partsinevelos, liz peek, jonathan hoenig and yes, do we believe our eyes, former presidential candidate and arkansas governor mike huckabee. good to see you. howard schultz joining a chorus of 2020 hopefuls warning that the country could be headed toward a crisis in capitalism. listen. >> what ray said last night is, and i agree with him, we do have a small crisis of capitalism, and what i mean by that is that the rules of engagement for a company today, given the fact that the government can't solve all these problems, is businesses and business leaders must do more for their employees and the communities they serve. i believe that. >> america is a capitalist society, but it's got to be democratic capitalism, and that part's really important. if you want to see what happens when you have capitalism without democracy, you can see it very clearly in russia. it turns into crony capitalism and that turns into oligarchy. >> three wealthiest families in

america, three families, own more wealth than the bottom half of american people. we are moving in the direction of oligarchy and together, we are going to turn that around. david: so now we have billionaires who made their money in this system calling it all a crisis, pretty much agreeing with bernie sanders, a socialist. do they have a point? what do you think? >> you know, david, i think it's amazing, you've got billionaires who have gotten all this money. if they want to feel guilty about it, give it away. give it away to the people who aren't making enough. because there's nothing in the law that says they can't pay more taxes. when i was governor i started a tax me more fund. i said if you don't think you're paying enough, here's an envelope. fill it in, send it in and we will take your money because you are free under the law to pay more than your fair share, if you feel like you're not paying it. this is nonsense. i'm going to tell you something. some of the companies in america, delta airlines is a

great example, do generously benefit their employees when the company is doing well. it's a matter of the choice of the company and i think smart companies take good care of their employees. i wonder why howard schultz didn't pay the starbucks people a whole lot better. i mean, that was where he could have started. this is absurd and it's just always, it ticks me off when i hear billionaires who have kept theirs and they want no one else to be able to get theirs. >> it's frustrating, there is such ignorance out there on the left and the right about just what capitalism is. one of the bits of ignorance is believing that america really is a capitalist society. it's a mixed society. there's some freedom and plenty of controls as well. the democrats, though, you can put howard schultz on that list, the democrats are explicitly for socialism. that's not a dirty word for them. they are against property rights writ large. as far as having a democracy, the founders were on to something. they said we were a republic, not a democracy. ben franklin famously said a

democracy is like two wolves and a sheep deciding what to have for lunch. david: that's a good one. >> mind you, i think that the democrats are a little bit of a decade late in addressing this problem. there is no question that globalization hurt a segment of our population, and basically, no one paid attention to that for a long time, really until donald trump made an issue of it in the 2016 election. what i am sort of puzzled about is howard schultz, because i heard him address a crowd last week, talk to young men of color, it was a boys club lunch, and tell them they have the best opportunity of anywhere in the world and don't let anyone tell you that that opportunity doesn't exist. ray dalio i think reasonably calls out education as a building block of that opportunity and says that our public education system needs to be better and i would sign on to that in a heartbeat. i think we are letting down minority kids. i think if there's one thing we could do as a country to make

sure that everyone really gets a fair shot at the apple, it is improving our public schools. >> excellent point, liz. i want to bring up what governor mike huckabee said, the fact these all men are byproducts of the capitalist system. ray is saying that oh, it worked in the past but it's no longer working now. i do encourage people to read the paper that he put out on linkedin because there is a lot of statistics in there. he does, one line he had was that capitalists can't split the pie properly but socialists can't grow it. however, he highlighted the american dream, part of it which liz mentioned, the fact na the education levels and how americans score is much lower than a lot of other developed nations, but the other thing is economic mobility. we talk about the fact that we should be able to do what we want if we worked hard for that money. economic mobility is extremely low here. going from the lower class to middle class, you are starting to see the middle class slowly diminish. i think that yes, this is a policy way for the democrats to speak and maybe you can say

schultz is a centrist but overall, it's raising an issue a lot of people are talking about at the moment given the income gap, given the wealth gap. david: you did say economic mobility here was extremely low. it has historically been much higher than other countries, even europe, let alone -- forget about the socialist country where everybody is equally poor. this country does have tremendous movement still on the economic ladder. you see the forbes 500 list, you see as many companies coming off and individuals coming off of that list as getting on to it. i would argue, i don't know about you -- >> think about the lower class, though. those that are coming from lower income families and moving into middle income brackets. >> kristina, i don't believe anyone is lower class. >> i didn't mean lower -- you know i meant lower income. it was a -- >> where else have the lower income benefited more than in capitalism? capitalism needs to be reformed. it needs to be tried. wherever it's been tried you

have seen massive elimination of poverty, across mass parts of china, of southeast asia, just in the last 20 years. wherever capitalism has been tried, great wealth creation for all on the spectrum has been established. unfortunately, ray, i don't know, maybe he's been listening to you because he has bought into this whole wealth inequality gap issue. the problem is the gap -- >> bought into it. >> well, the very wealthy and the very poor, that's not the issue. the problem is that all americans are free, free from government to pursue their own interests. that's what capitalism is. david: let's be real clear. i want to agree with jonathan and add this point. capitalism does not believe in a finite set of economic capacity. it believes that the pie is not fixed and there's only so many slices and then you have to divide it up. in true capitalism, there is no limit to the infinite nature of wealth creation. that's what somebody has to remind some of these critics of. >> i do think it's ironic we are having this discussion just as we see not only real wage growth

for the first time in a decade but actually, a closing of the gap between high and low. we are seeing the fastest growth in income now at the lowest end of the income spectrum. so it is sort of interesting that socialism has sort of raised its head just as i think the strong jobs market, the strong economic growth we're seeing is beginning to rectify some of these issues. david: i would ask again, kristina, is inequality of income the best way to measure wealth? isn't consumption a better way? by consumption standards, we have never been doing better in terms of what individuals have. poor people now in this country have more than middle class had -- >> by what means, though? by what means, if you look at the level of debt across the board with corporate individual, that has risen to really high levels. i understand that maybe you don't agree with the income gap and you don't agree with the wealth gap and maybe you don't agree with the economic mobility -- david: i don't think it's the best measurement. >> what about the federal reserve coming out with a study

very recently saying that only 40% of americans can find $400 in the case of emergency? what about all of these other signs? >> kristina, the solution, i don't know if it's your solution but the democrats' solution is what? more government. in every element where government has dominated the economy, you are talking about a lot of student loan debt, for example. that's just one example of the places where americans have been hurt by government intervention in the economy. what's his solution here? tax the wealthy more, give it to government, you know, minders, the so-called platonic geniuses and let them divvy out what is fair for the economy. look, howard schultz earned that money. if you see them, you should thank them. thank a billionaire because the only way you become a billionaire in america is by making millions and millions of people very happy. david: the battle for the president's tax returns is heating up as democrats vow to keep pushing to get them released. what the white house just said they'll do, coming next.

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one of the fundamental principles of the irs is to protect the confidentiality of you and me and everybody else who files taxes. they know that. they know the terms under law by which the irs can give them documents. but political hit job is not one of those reasons. >> you believe democrats will never see the president's tax returns. >> oh, no, never. nor should they. david: never. that's what the whe public will get to see trump's taxes but democrats are arguing that voters have a right to know. so if it's so vital, should congress pass a law saying, declare 2020 hopefuls also need to release them for a certain number of years? what do you think? >> i think this is another one of these political maelstroms that will basically work in the president's favor. i think a lot of people would like him to release his taxes but i think it's also going to be viewed as basically harassment. you know, the irs has not

escaped politicization in the last decade. we know that happened under president obama. i think it's yet another agency that, you know, a lot of trump supporters are going to look at this and say yeah, well, if they do this, it is basically just another sort of political maneuver on the part of the irs which nobody will applaud. >> let me just say to you, the biggest mistake donald trump will ever make is releasing his tax returns. first of all, these clowns in congress don't understand the constitution. they sure as heck aren't going to understand his tax returns. they're going to be complicated. they're going to be extraordinarily deep and there's no point. and the other part of this is that as one former governor of arkansas famously said in one of his many malapropisms, not me, this is going to open a box of pandoras. once you open this, for the rest of time, every politician is going to have his or her tax returns gone over with a fine

tooth comb. biggest mistake i ever made in all my political life, well, maybe one of the biggest mistakes, was giving out ten years of tax returns. my opponent didn't and you know what my opponent did? he didn't give his, he beat the heck out of me with little things that he found that had nothing to do with anything and i said i'll never do that again and i'm begging donald trump, don't fall into this stupid trap. it's a disaster waiting to happen. and i agree, if congress wants to see everybody's tax returns, pull out yours and make it a law. otherwise, shut the heck up. >> however, don't you think this is a great exercise if you are a teacher and you are learning policy, here are the democrats pushing incessantly for the president to release his taxes. they keep doing that, he keeps saying no, then that leads the population to possibly believe maybe he's hiding something. is he hiding, overstating his wealth or is he hiding financial connections with a crowd that we don't want to know about.

i understand maybe you think -- i think it's personal, good for you for revealing them. i'm very curious as to what you were referring to as a mistake but i won't ask that on air. overall, this could be -- you have had presidents do this since the 1960s? and they have always done it. so why all of a sudden is he so adamant about not sharing it? that's the big question. i think it's a political move definitely. >> yeah. part of the president's credibility is that he is a billionaire and i think you can't help but think there is some obfuscation going on here. look, what did the president tell us for months and months, the reason we weren't going to see those taxes is because he was under audit. he's been under audit for a decade plus. i wish he had said just from the top that look, these are my private returns, evaluate me on my policies not on my investments but no, it's always about not necessarily the lie but it's the coverup i think the dems smell a coverup and that's what they are looking for. david: i want to make a couple of points. first of all, they measure taxes

measure profit, not necessarily wealth. so it would be kind of an interesting puzzle to try to put together how much he's worth. but the second thing is, this is to liz's point, there is a deep-seated, deep-rooted disdain among the american public for using taxes of one kind or another as a political weapon. going back to the 1700s, that's what the revolution was all about, right? >> i think we also have to remember, david, that there is nothing that prohibits the irs from investigating donald trump's tax returns and if they think something is criminal, they could refer to it the department of justice and the fbi. they can prosecute it as a tax crime. it's what got al capone. this nonsense the democrats have to see it, who trusts them to look at it and have any idea as to whether or not donald trump properly filed his taxes? by the way, just to correct, my mistake was not in what i filed. my mistake was in releasing it publicly and that's what i'm

urging donald trump not to do. >> i think we all should remember rachel maddow's breathless revelation of the one tax return that actually surfaced relating to the president, which turned out to be worse than a nothingburger, it showed he earned a huge amount of money, paid some taxes, nothing to see there, folks. it would be hilarious if he draws this out for six months and then finally does reveal four or five years of taxes where there's nothing to see. that would be a genius political move on the part of the president. >> which i think you're right in that sense because then you've got the mueller report, now going after his taxes. however, there is a bloomberg reporter brought it up because de she did see some of those sheets and we know the president used a lot of debt in order to pay for things. in 2000, to use cash. where did that cash come from? these are obviously nitpicking certain things but i don't think it should be a campaign policy for the democrats. david: by the way, the irs is required to monitor the president's taxes every year. they have been doing that going back, i don't know how many years. go ahead, jonathan.

>> so question of the governor, if i could. sir, potentially if the president had some pretty big debts, does that not worry you as a former elected official? could the president's debt, i don't know whether it's to deutsche bank or anyone else, you don't think the american public has a right to at least know perhaps who the president is indebted to when it comes to him making major multinational decisions in the matter of the country? >> i think if it's not affecting his job and there's nothing control about it which the irs would be able to find then no, it's not any of our business. here's a news flash. donald trump is wealthier than most people. we can settle that. donald trump probably didn't pay any more taxes than he had to. frankly, i don't want a president who is so stupid that he pays more taxes than he's supposed to pay. i want him to pay everything he has to pay. that's the irs's job to figure it out. paying more than he should pay, that's an idiot. i don't want him as president. david: he said as much during the debate with hillary clinton. i remember that very well.

thank you, gang. new developments in the college admissions cheating scandal. why actress felicity huffman says she is now planning to plead guilty.

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david: a big development in the college admissions cheating scandal. actress felicity huffman and other parents are now planning to plead guilty. fox news's molly line has been following this from the beginning and joins us with details. why are huffman and these parents choosing to plead guilty? reporter: yeah, well, fairly significant development in this case. you mentioned the most recognizable face, of course, but there are 13 out of 33 parents that have chosen to take this route but there are others that have chosen to take this to trial. these are, we have been talking about this story, very wealthy people, wealthy ceos, there's a wine maker involved, you mentioned the actresses. let's talk a little bit about

what huffman's reasoning is. she put out a statement that says in part that she's essentially taking responsibility here, putting out a statement but proclaiming her daughter's innocence. my daughter knew absolutely nothing about my actions and in my misguided and profoundly wrong way, i have betrayed her. this transgression toward her and the public, i will carry for the rest of my life. now, others who have agreed to plead guilty pursuant to plea agreements, that give us a little bit of hint as to perhaps why some of these parents chose to take the route they have. among them, jane buckingham, ceo of a boutique marketing company based in los angeles, was asked by singer, the mastermind of the entire scheme, to provide a handwriting sample from her son, the very talented test taker that played a major role in this scheme, could try to emulate it while taking the a.c.t. test. it was sent with a note good luck with this. there was the owner of a vineyard in napa who stands of

bribing the water polo coaches to facilitate his daughter's admission. his daughter did not play but a fabricated athletic profile did include a photo of someone else playing water polo. gordon caplan, co-chair of a major international law firm at the time of the crime, seen leaving court, caught on camera. he allegedly paid $75,000 to have his daughter's a.c.t. test corrected. very similar to huffman, he's put out a statement taking responsibility and claiming that his daughter had no idea, writing she had no knowledge whatsoever about my actions and has been devastated to learn what i did and has been hurt the most by it. some of these parents essentially understanding the impact, the embarrassment that they may have caused their children, many of whom in this scandal did not know this cheating was taking place. it is, however, notable who is not on this list. lori loughlin. her husband. they faced a judge, they were in federal court last week, they are not on this list of parents choosing to take this route.

then there are others that are taking a very different route. two parents say they are going to trial. gregory colburn, a doctor and his wife amy, they face the additional money laundering conspiracy charge in this case. they are among the first parents who have been actually indicted in the case. an attorney put out a statement proclaiming their innocence and they have claimed that their son took his s.a.t. with no assistance. guys, back to you. >> i think it's fascinating because this entire scheme, this bribery scheme, was considered a charity so all of them were able to deduct it from their taxes on top of that. but i'm just going to direct this to you, molly. i know this is pretty much getting you to editorialize. you think that huffman went ahead to plead guilty because she paid less than $100,000 versus lori loughlin and these other players that gave pretty much $500,000? you think that has a lot to do with it? reporter: well, really interesting point you bring up there, the kind of disparity in the amount of money that these wealthy parents chose to pay.

huffman paying $15,000, for instance, loughlin paying over $500,000. yes, these parents are facing the same charge, conspiracy to commit mail fraud and honest services mail fraud. essentially, it may not necessarily make a difference how much money they paid into doing essentially what resulted in doing the same thing. that could very potentially be up to a judge if he weighs that factor. we will see what actually happens when sentencings come about which has yet to occur. you brought up an interesting point about taxes. also noting this paperwork that came out from the department of justice, united states attorney, district of massachusetts paperwork says all these defendants who improperly took tax deductions for their bribe payments have agreed to cooperate with the irs to pay back taxes. so that's another interesting note here, as this continues to go forward. >> do you think that some of these parents are choosing to plead guilty in the thought that it might be better for their kids, that it may get rid of this thing quicker or something

like that? i mean, nobody would want to drag this out when their kids are sort of on the hot seat here, right? reporter: well, there are a couple reasons why there could very potentially be the case. we have seen a few of the parents openly express remorse, particularly remorse for the embarrassment they have caused their children, notably those statements that i just read. so that's a very strong possibility. there is also, it's also worth noting that the mattermind of the scheme was caught very early on as this was beginning to unfold and then he cooperated to a certain extent. so the government has conversations between many of these parents and mr. singer, talking about payments being made, what the payments are for, that sort of thing. so it could be that they looked at the evidence that the government has declared that they have, there may very well be far more evidence that we haven't seen, but what's actually in the documents and they are taking a look at. they could be weighing a great number of factors and many of them are certainly paying some very high powered, powerful

attorneys. they are maybe helping them to make this decision as well. >> if i were the judge in this case, i don't want to see an episode of desperate inmates. what i would like to see as a judge is instead of you making a bunch of money for the rest of your life, you have to live on $75,000 a year and everything else you make goes into scholarships for the kind of people that your kids cheated. let's talk about what are the potential penalties these folks face from the judge or jury, depending on whether they go to trial or not? reporter: yeah. number of interesting things you mentioned there. depending on some of the documents we have seen so far, we have seen forfeiture agreements in place. we haven't seen the plea agreement for every single parent or been able to go through them but in the case for instance of one of the coaches involved we saw a forfeiture in which a large sum of money was going to head back in the direction. whether or not that would end up in any students' pockets that

certainly deserve to get tuition money and whatnot, i can't imagine that scenario. but i can say when we were outside court last week, and there were a couple students that had signs that were like hey, lori loughlin, please pay my tuition when you get out of prison. we also have yet to see whether or not any of these defendants in this case will go to prison and if so, for how long. so the plea, those sentencing dates have yet to be -- david: if the judge is sentencing, i hope he was listening to governor huckabee. i love that solution. a certain percent of their income in perpetuity goes to paying for scholarships for other people. sorry, we have to leave it at that. beto o'rourke going after israeli prime minister netanyahu ahead of israel's big election tomorrow. we are live in jerusalem coming next. so, jardiance asks...

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david: israel going to the polls in just hours from now, in what could be an historic election. joining us from jerusalem, fox news foreign correspondent. trey, what can we expect? reporter: well, with the israeli elections in less than 24 hours, the country is expecting a tight race between israeli prime minister benjamin netanyahu and his main opponent, benny gantz. the two rivals have exchanged insults, gone through numerous scandals and leverage d to try o gain an advantage. both met with potential voters to discuss their positions. netanyahu strolled through jerusalem's biggest market today talking with voters. back in february, israeli's attorney general announced that netanyahu would be indicted on bribery and corruption charges. in the weeks that followed, papers across israel covered the story of gantz's phone being hacked by the iranians.

neither saw any major hits to their poll numbers following these scandal announcements. one key factor to look at heading into tuesday is the influence of u.s. support in these elections, as many view the vote as a referendum on the prime minister. netanyahu has campaigned heavily on the coattails of president trump and his team visited the region especially during the u.s. embassy move to jerusalem, even putting out an ad where he is praised directly by trump. despite his past support of netanyahu, president trump did not endorse either candidate when speaking this weekend at the republican jewish coalition in las vegas. >> it's going to be close. i think it's going to be close. two good people. two good people. but i have stood with your prime minister at the white house to recognize israeli sovereignty over the golan heights. reporter: with the united states recognizing the golan heights as part of israel, just days ago, this was a clear foreign policy nod by president trump towards israeli prime minister benjamin

netanyahu that he would like to see him stay in that position. back to you. david: thank you very much. here at home, democrat presidential candidate beto o'rourke had some strong words for israel's prime minister, benjamin netanyahu. here's what he had to say. listen. >> the u.s./israel relationship is one of the most important relationships that we have on the planet, and that relationship, if it is to be successful, must transcend partisanship in the united states and it must be able to transcend a prime minister who is racist as he warns about arabs coming to the polls, who wants to defy any prospect for peace, that he threatens to annex the west bank and who has sided with a far right racist party in order to maintain his hold on power. david: racist. wow. here's a scenario. what if netanyahu wins and israel, and beto wins here in the united states, what happens then with this relationship with a vital u.s. ally? >> well, it's going to be really

frosty, if you think about it. i think beto knows a whole lot more about skateboarding than he does about israel. i would love to take him over there sometime and help him to understand how little he knows. he needs to wave his arms more and just stick to something other than trying to say that benjamin netanyahu is a racist. that is absurd on its face, it's embarrassing, insulting and disgusting. i hope that a whole lot of people will realize that if you are going to be a presidential candidate, calling a prime minister of another country who has a long record of successful economic growth for all people in israel, and who has kept that country safe, to call him a racist, well, he ought to be ashamed of himself. he ought to eat some of the stuff that he tried to feed his wife. >> i know that governor huckabee just returned from israel. i was there literally 24 hours ago. there's a tremendous move towards freedom, towards liberty, towards individual rights and capitalism emerging in israel. this is a society, very young society that has had some terrible experience with

socialism in not too recent past. they are moving towards liberalization. i don't know, to your point, governor, i don't know what beto is talking about. israel is the one western rights-respecting technologically advanced first world country in the whole cesspool of truly racist islamic collectivism that hasn't changed for 40 plus years. that's the middle east. that's why no matter who you support in this election, you must support israel. >> i do think it's interesting that this election is really turning out to be a referendum on netanyahu. in fact, his primary opponent doesn't really have any -- appears not to have any particular policy differences with netanyahu and his campaigning is all about not more netanyahu. i think it's interesting when you have an incumbent who is very strong and who kind of plays at the waterfront. he's very strong with trump but also very strong with putin. there's almost no sort of international sphere that netanyahu doesn't have a very strong position in, and the

incumbent also can do things like talk about the golan heights sovereignty. you know, i think he may win and that will be kind of another big surprising election outcome of the last several years. >> i think if we go back to o'rourke and his comments about being racist, i think those are extremely strong words to use, especially just setting the tone. maybe he was referring to 2015, when netanyahu did say that arabs are coming on buses in droves and we have to stop them, and he didn't do anything afterwards. those are words that you use to fuel your base and get them to go. what i think is happening right now, and no, i did not go to israel, but you are seeing a situation where they are shifting to more right wing policies, the fact that netanyahu on saturday in a tv interview did say that should he win, israel has the right to keep the land that they won, they also plan to annex jewish settlements in the west bank. i'm concerned and maybe both of you since you have been there, can weigh in on the resentment towards palestinians right there, the possible violence that could erupt, the tone.

what did you both feel since you were there recently? that would be to the governor or jonathan. >> well, israel 20 something years ago basically offered 95% of what the palestinians wanted. they walked away from it. this nonsense that israel is being unfair to the palestinians, again, go there, take a look first-hand. you will see that's simply not the case. when someone murders an israeli, the palestinians give them a pension for life, name a street or park after them, and celebrate him as a hero. that what is we are dealing with. i have known bibi netanyahu for many years. i'm telling you, israel needs someone with a lot of hours flying in the cockpit, not somebody who is untested in a presidential position like that because they are headed for more thunderstorms. you want someone who has flown through them before. bibi netanyahu is that person. >> where else anywhere in the middle east are people free to worship whatever god they want to worship or to be gay or be transgendered. only in israel. that is the only individualistic

society, truly western society in what is an absolute mess of a part of the world that's been that way because it's been islamic collectivism for decades and decades on. you must support israel. david: beto sounded like a rank amateur. that simple. thank you, gang. the uk is taking a hard line when it comes to online safety and tech companies could face hefty fines under new rules that they have. but is this just a cash grab by the uk or could it actually work? we'll debate it next. the way they subscribe to movies. we don't follow the naysayers. ♪ ♪ but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed.

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david: the uk is establishing an independent regulator to keep big tech companies in check, looking to tackle far-reaching illegal and harmful activity. tech and social media giants have failed to live up to these new requirements. they are expected to face some very heavy fines. so will the uk have any real success with this crackdown or are they just looking to cash in on our tech giants? what do you think? >> i think it's very concerning because in their hands, they can determine what is disinformation because that's part of the process, so it's a subjective part for them to decide what's fake news and what's not. however, we're at a moment in the globe where everybody is starting to move forward with this. you have new zealand that put in -- or trying to put legislation forward, singapore, then you had a backlash because

it goes against freedom of speech when you start blocking these posts. then you also have australian government, too. with new zealand they blamed a lot of social media. i think it's going to happen. i don't know to what extent. do we trust these social media companies to self-regulate? the answer is no. >> that's why every country is beginning to look at what kind of regulation they might actually enact. the problem is none of it really works, because the scale is just so vast. this particular thing is a little different in the uk, because it goes after child safety, kind of get rid of self-harm videos, things like that. but when you have two billion followers as facebook does, posting, you know, multiple things per day, the numbers are just outpacing any kind of oversight. i think the really frightening thing for the companies here, they were not just talking about imposing fines which already has happened in the eu, such as google and some others, but also they are talking about personally going after the

directors of these companies. that's a whole different level of liability. >> australia. >> i've got to tell you, companies are going to be terrified of that, because yes, there's insurance but they are going to lose directors. they will do that. >> i think the best solution is what i heard just recently, where we treat them as common carriers. they release from liability but here's the tradeoff. they don't get to control the content unless it's criminal. then they refer it for criminal action. but this idea that they get to tell me who i can talk to and what i can say, we have a little thing called the first amendment. they ought to be treated like a common carrier, just like at & t. at & t can hook me up with a telephone signal but they don't get to control who i call and who calls me and what we say, once we are on that carrier. that's a better solution. release them from the liability but let them quit telling me what i can say and what i can't, what i can see and what i can't. >> can i push back respectfully? doesn't the first amendment

apply to government and doesn't facebook or twitter for that example have a right sto decide who they want on their platform and who they don't? isn't that the company, to kristina's point, self-regulating about who is appropriate and who isn't? >> well, not if they're common carrier. that's the point. at & t is a private company but i don't allow them to tell me who i can talk to and who i can't. these companies have become bigger than just a little private company where people decide to sign on. if they would like to be treated like a public utility, which they virtually have become, that certainly can happen. or they are going to get sued. they are going to get sued for antitrust, they are going to get sued for content and they are going to be in trouble for that. >> i just wonder why they can't be left free. government's role is not to micromanage or come up with best practices for private companies, even successful private companies like facebook. the irony is that everyone complains about facebook privacy are oftentimes the same ones participating on facebook, sharing pictures of their kids -- >> jonathan, it's a question of

safety. there have been really serious instances where misinformation has led to actual murders and sector fighting in india, things like that. there is an issue here that goes beyond privacy. i don't think actually people are looking at that now. >> can i advocate in effect for the same way government has controlled health care and education now, we are going to have them control the internet, what is appropriate content, what is inappropriate content. this panel doesn't realize what a slippery slope it is here. david: let me put in a call of order here, online harms, that's the phrase, online harms. that includes disinformation which could be anybody's guess what they describe as disinformation and cyberbullying. i know that's a real issue but again, that could be so broad that it might include what we would call first amendment issues. >> exactly. to that point, if we are going to leave it free, the uk specifically said repeated attempts to get them to take this stuff down, to get them to take the terrorist posts, to get

them to take down the violent posts, hours after they have been posted. that's the issue of the company. then you start hiring more people, that will hurt their bottom line. so we can >> so a shooting is not enough of an example? we could have all watched it online just like that and it's no big deal? >> no. as i said, it's a horrible example but because of that horrible example doesn't mean you want government to come in and start regulating speech which is exactly what you've got. >> got to leave it at that. it was just getting exciting. more to come. democrats claim the fight for $15 minimum wage is for the good of the people.

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david: democrats made the fight for 15 a rallying cry but same people pushing for $15 minimum wage don't want to acknowledge the negative repercussions of plan as local governments force companies to raise wages johns in the area decreased. new report, that full service

restaurant jobs in new york have fallen by nearly 4%, and crimes like theft and arson increased what do you make of all this, gang? >> i think it is important to note if you have 15-dollar an hour minimum wage, why not make 25 or 30 or 50 or $100? once the government decides what a minimum wage should be, make it a maximum wage? give everybody a huge wage. interestingly on the $15, the outback steakhouse employees don't say this, leave us alone. we can do better than 15 bucks an hour on tips. that's what they need to think. >> minimum wage discriminates against low skilled people just starting out. this is not us coming up with this. the labor department said in 1938 when they first instituted the minimal wage. david, you're seeing it in real time, aoc's old coffee shop recently closed higher minimum wage specifically to one reason. to the governor's point we should have minimum wage. it should be zero.

employees who want to work for a wage, get together that is free economy. >> we talked about the fact that having nationwide minimum wage doesn't make any sense. the cost of living various enourmously from one part of the country to the other. other thing to mention about the new york situation with the restaurant data, every other industry group was increasing employment. this is like the one industry that employed mostly minimum wage workers. that was the one sort of squashed. >> i thought we could go a whole show without mentioning cortez. there you have it. >> no. >> one study was really interesting, we have to go quickly, from 1998 to 2016 led to additional 80,000 property crimes committed by 16 to 24. we saw a large jump in minimum wage. >> people get their start. you learn how to work very often by minimum wage job, right. if you don't have that, if you're priced out of the marketplace you don't learn how to work. where else do you go but out of the in streets?

go ahead, john. >> david, people rather see young person not working for $8 an hour than no one working for 15. david: that is it for "bulls & bears." see you back here tomorrow. liz: tonight the bad he will for the border. now that kirstjen nielsen is out at homeland security, two 2020 democrats saying yes, the border is a problem. it needs fixing. you won't believe the names. president trump is being criticized moving to potentially fire and let go more border security officials. this as economists analysts agree what we've been reporting, get at the root cause of the crisis, corrupt, lawless central american governments triggering migrant outflow. we're on that story. also tonight, what our sources have been telling us, democrats will lose in a landslide in 2020 if bernie sanders is the nominee. now a top repub