hearings to see what tax loopholes to get rid of and do tax reform overall lower the tax rate for everyone. make high earners not have the taxes. they think if you cut rates you cut tax revenue. that isn't necessarily the case. john kennedy cut rates there was an increase in revenue. reagan cut rates. if you cut the rates and you cut the loopholes you can end up with something that we had in 1986 which was a fantastic trial. democrats and republicans we would reproduce that which is what the ryan owe romney plan would be. >> more with the panel and we also have other special guests on the other side of this quick break. live coverage of mitt romney's selection of paul ryan as his

vice presidential pick. now they are on the road campaigning together. romney ryan in 2012. more in just a bit. the better y. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's anothereason more investors are saying... [ all ] i'm with scottrade.

>> a lot of people follow you. if there's something people don't know about you what is it? >> probably a lot of things people don't know about me. i am a dad i am a husband. i like to hunt and fish. most of all i like hanging out with my kids. 3 kids, 7, 8 and 10. girl, boy boy. >> what do they like to do? >> soccer games on saturday sometimes sunday and cub scouts for pie boy. my oldest boy got second place in pine wood derby and my youngest in tsecond place in th regatta. >> it's not all about budgets. >> i do some budgeting on the

weekend. >> i don't have a place out here in dc. i am here four-days a week i head home i keep my truck there drive home. i am just like a dad like anybody else. >> america will learn a lot about paul yie an as we get ready for the convention in pam t paw for the gop and the election in november. juan williams is watching all of this from potato reek co. you are not vacationing down there you are speaking something? >> speaking to the southern governor's conference held in puerto rico go. the governor is the host this year and the host every year. this year all of the governors are showing up. they are on the beach in puerto rico. >> i wanted to get that out of the way. let m get your reaction to this pick the speech and perspective

from democrats you talked to? >> democrats couldn't be happier with this pick. if if you think about it from a politically strategic point of view this is not about florida this is not about ohio this is not about virginia, president obama leads right now in wisconsin and it doesn't look like it's really seriously in play. maybe paul ryan can change that. but i don't know. right now that's not an issue. on the larger scale what people are looking at is this they are saying what about appeals to independent voters. given paul ryan's records the cliff ads business about medicare social security. he opens lots of lines with potential attacks on democrats. the other thing he needs to consider is seniors. when they look at social security you can image it is democrats are going to use his

budget. in the short run it has great impact on the republican base. i think republicans steve haze, bill crystal, wall street journal they are all big paul line suppo ryan supporters. for the short term i think this reassures conservatives that mitt romney the moderate massachusetts governor really tearer cares about conservative ideology. he has picked paul ryan. in the long-term for political conservatives there's real questions to be asked about whether this helps romney going forward to defeat barack obama. >> you mentioned independents and concern and it's a quick summary of medicare and the ad of the grandma and it is all just kind of jumbled all together when some people talk about it.

gis the question is how did do irn pendants deal with the deficit and debt? how do they think about passing on to their kids and grand kids or as you mentioned is the safety net and protection that it provide the issue that is dominating or is the fiscal cliff the issue that is dominating? >> i think the fiscal cliff dominates in the minds of business people. i don't think there's any question with that. in washington it created a tremendous amount of alarm, concern, uncertainty all of these things apply. when you ask voters the number one concern in every poll is job creation. when it comes to job creation you have exactly what is paul ryan's description. wa paul ryan as budget chair has been busy with cutting spending busy trying to address the problem with the debt the deficit. as such that is a concern for

americans but it tends to be a long-term concern. the immediate concern is jobs and making sure that this economy gets going again. when you talk about even some of his prescriptions people will say we know he wants the cut. where is he willing to close loopholes? where is he willing to take away deductions? that has always been the criticism of the ryan budget. you can image you are going to hear a lot of that in the days to come. it's the democratic ad makers are already drumming up those ads. grandma falling off the cliff is going to look pretty in a minute. >> last thing his response to that. i pressed him pretty hard about the questions about taxes and specifics about taxes in his budget. he says he wants to do it out in the open, he wants to do it where people can see in committee hearings where everything is on the table and the tax reform in order to get it done requires everybody to be

there in the game where everybody can see it. so does that not play as an asset? >> no. i think what people will view paul ryan as they come to know him. they don't know who he is yet. they will come to see him as a technicians. i think he's a brilliant man. as someone who watches congress i am impressed. i think he may be the future of the party. when people say you are saying you want everybody to sit down and talk about this you really don't have an anthem you are the vice presidential nominee mitt romney askwrapped his arms arou you you are not telling us where you want to remove any deductions or loopholes but you are telling us you want to make huge social kutscuts, cuts in sl services the voters will have concerns democrats will exploit them. >> juan williams from puerto rico. don't work too hard down there. juan thank you as always. as we go to break there's

something about vice presidential nominee introductions. take a listen to this. back with the panel after the break. >> join me in welcoming the next president of the united states, paul ryan. (applause) >> let me introduce to you the next president -- the next vice president of the united states of america, joe biden. you know, i was once used for small jobs.

yeah, and i took on all the bigger, tougher ones. but now that mr. clean's got this new select-a-size magic eraser, i mean, he can take on any size job. look how easily he gets things cleaned. it's enough to make you cry. you, specifically. not me. i'm just happy we don't go near rex's mobile home as often. because it's hard to clean or because you're scared of an itty-bitty doggy? [ dog barks ] aah! oh! [ clears throat ] yeah, that was a sneeze. i think i sprayed myself. [ male announcer ] new mr. clean select-a-size magic eraser. lets you pick the right size for every job.

our ancestors left those societies to come to this country an opportunity society. people should not be stuck in their station in life or some class we want a society of upward mobility. we want to move people from welfare to work on to a life of prosperity where everybody has access to equal opportunities so they can make the most of their lives. that's the kind of country that unifies us that works for the common good that gets the american idea reunited. we are losing that and we want to reclaim that. >> paul ryan in an interview earlier this year. now he is mitt romney's choice for vp. we are back with our panel of experts charles, bill, steve and joe. charles themes hidden in the speech today and some of the things we talked about there a couple of months ago. >> the obama campaign is at the constituency. he tries to handout a good to hispanic americans to african americans to women to gays people interested in the environment. the republicans are running a far more national idea based

campaign. especially now. the vote indications from the declaration of independence talking a company founded on alliance. that's the tea party. he speaks directly to them. they hear that that is understood to be the basis of this new kind of constitutionalism which is what energized republicans in 2010. i think that energy is going to help to carry into the convention get them lodged if they are going to win and i think they likely will. >> bill, as charles mentioned while he may touch cords in the tea party you are saying it's also a play for independents? >> absolute lur. t -- absolutely. i have got e-mails from

21-year-olds to congressional candidates i feel like we have a new lease on life. he has won in a district of wisconsin democratic presidential candidate. paul ryan got 65 percent of the vote in 2008. obama was winning the district 55-45. 20 percent of those voters voted for obama and ryan. he didn't know him for who else. can he do that nationally? c not quite. can he be persuasive to moderate democrats who voted for reagan perhaps and clinton and rilly clinton in the primaries in 2008? i think paul ryan can make the case to hillary clinton democrats who need to be one back from obama and in florida over to the romney side. >> i still think this is about taxes. it is so going to be the hurdle they have to get over here. that is where this thing is

where the obama people want it. we have been trying to make it about obama who he is going to fight for and effectively making it look like his constituency is wealthy americans. and where ryan comes in he gets a lot of credibility on the cuts seniors and people in the middle class and look at where romney is even ryan wants tax cuts for the wealthy. we are going to have the same debate. >> okay steve. >> i think obviously it's a big issue election. if you think back to how this all really started wall ryan thought about running for president a year ago almost a year ago when he was on vacation

to colorado he won't be going on this year apparently. spent some time talking to senior republicans mentors about the possibility he would run for president and he would make it a big issue. through october and in through march and late march where they spent time together they were on the stage together and they talked about these big issues mitt romney gave that led to this tip. we have final thoughts from the panel when we return as continuing coverage of mitt romney's pick of paul ryan for number two as the vice presidential slot continues. >> america, america is more than just a place, though.

america is an idea. it is the only country founded on an idea. our rights come from nature and god not from government. (applause)

>> well. when this day started we didn't know it was going to be this day. we didn't know we were going to get this pick. last night would got word this was coming down that mitt romney was going to choose paul ryan as his vp pick. let's get final thoughts from experts in washington and

wisconsin. stooe haze final thoughts on this pick, big picture. >> i think this is a pick that will energize conservatives like the others i have heard from members of congress saying this is a motivating pick for me. i think you will see lots of grass-roots excitement on the conservative side. i agree he had potential to appeal to independents. when you look at polls independents regularly point at the deficit as one of the most important issues. they will make that case and make it aggressively. >> joe tripy? >> i think this is a great pick. it is a pick i would have urged romney to take. i am not talking as a partisan the democrats wanted ryan. i really think it is a chance to have a real debate the country needs to have regardless of who wins it i think ryan helps put the issues front and center. they will make the fight on both sides on cuts entitlements and the things we need to have. that's why i say i commend romney on the pick.

it was a bold choice. there will be a lot of raipg and file democrats that will be pretty excited to start the fight as well. >> bill crystal? >> the conventional wisdom is vp picks doo don't matter. they helped him regrant the democratic party in 92 after three consecutive offices. this could be an inflexion point in this year's presidential campaign. if it is to be won the romney ryan will have to continue the themes by the pick of ryan himself. they need to run consistently and aggressively as conservative performers who are going to tell the truth to the american public and they are now in this. it is another in for a time in for a dollar moment here. they start to back off or the romney campaign looks 10-days from now the way it looked the last 10-da it won't end up changing much. it could be an inflexion point

with character for the romney campaign changes. >> charles? 20 seconds. >> i think it will have a historic effect way beyond this election. if ryan equips himself in this race which i am sure he will, if romney wins he's the air apparent fore decades to come. romney doesn't win he is leader of the party i think that he is sort of been raised to a level that could be equal to that of reagan if he does well. panel thank you as always. even row motorially. appreciate it. ryan is known for his economic expertise chairman of the house budget committee. he offered that controversial budget plan that brought scorn from democrats and skepticism and some in the democratic party worried about electoral implications and embraced broadly. we will see this as a big choice a way to avoight the fiscal cliff. ryan married father of three

young children 7, 8 and 10. he's catholic a hunter. he represents the state that has become the center of the political universe in recent months. wisconsin. now he's mitt romney's pick for vice president. he said today we won't duck the tough issues we will lead. continuing coverage on fox news channel continues with john roberts, america's election headquarters in washington.