well i'm john harshman in washington d.c. and here's what's coming up tonight on the big picture the seven republican presidential hopefuls duke it out in their first debate leon thing was that ever mention the middle class or education you'd think they'd mention the two areas where the country is struggling the most meanwhile the very foundation of america was built on its tumbling the hands of wall street just how powerful have our banks to be caught and how would you like to own your own piece of winner gave history

details and i you can take action with your very own anthony wiener infinites crazy . getting to know this last night seven republicans going to verged on a hampshire debate who would be a better president the debate touched on topics like the economy health care immigration our foreign wars and whether or not newt gingrich prefers american idol or dancing with the stars after the debate the democratic national committee released their response take a look. i do not believe in cirilo in american courts. i support a constitutional amendment to define marriage as between a man and a woman. i think governor palin's a remarkable leader i think she's qualified to be president the united states.

the president will repeal obama care. we would today probably have a permanent station on the moon three or four permanent stations in spain. now for the republican take i'm joined by daniel helper deputy online editor of the weekly standard and jami weinstein senior editor of the daily caller welcome guys owing to the republican take of the neutral take i'm not going on the plaque you put the republican party it's fair and balanced here come the journalists not a republican are always the most impressive thing about the debate last night but either of both are actually i don't know if there's anything overly impressive i wasn't awful but it wasn't superbly astonishing there was nothing that great that stuck out at me seemed it seemed to me that there was there was nobody drilled deep everything was soundbites and surface stuff would you disagree that there is no

it's certainly part of it certainly that's true but part of it is the questioning and questioning they were a lot of thirty seconds for each question i don't know from watching c.n.n. but every time they went over or seemed to go over in the eyes of the moderator they they were brutally interrupted so nobody was given any more time it was terrible format it was really they tried to integrate new media and it was so confusing with who makes those decisions c.n.n. . you're going to say in this no i think was totally c.n.n. but i don't know i don't know the inner workings i just know it was it was a terrible thing ok the word middle class was not mentioned once telling us that i don't know i mean i'm not sure they were talking about all americans generally the word upper class wasn't mentioned nor was the word lower class although there were you know i didn't get the sense that you know it seemed to me like the the god gays guns didn't come into it are you saying you are in florida are you are you saying you don't care about the lower class the jobs you're concerned with the lower class they were going to be there but you really got to play gotcha here with the jamia

this is a serious thing it seems to me that there was a real appeal here to playing something into the two i mean to a narrow narrow slices of a you're playing semantics you can look through the transcript and find many phrases that weren't said last night the middle class was referred to in different in different ways without explicitly saying middle. class i don't think i would take it as a slight i want to read too much into it and i and i would go back to my first point which is that a lot of it has to be reflection of the question from the questions themselves but in answer they didn't ask about the middle class they didn't they didn't refer to them as points so you know i didn't disagree. in all their conflicts which were many of them trying to expand the economy to turn around the economy that always includes the middle class it was all america i'm not disagreeing that here's. a quick clip of. well in fact this is this is why i think simple as he is not running for president i think he's running for vice president obviously.

and you don't want to address why you called governor romney's obamacare where the issue that was raised in a question from a reporter was what are the similarities between the two and i just cited president obama's own words that he looked to massachusetts as a blueprint or a guide when he designed obamacare or you told you so you asked a question which is fair enough but you chose those words so one of my questions is why would you chose those choose those words maybe in the comfort of a sunday show studio your rival is standing right there if it was obama care fox news sunday is it not obamacare standing here with the governor right there it is president obama is is the person who i quoted in saying he looked to massachusetts for designing his program he's the one who said it's a blueprint and that he merged the two programs and so using the term obamacare was a reflection of the president's comments that he designed obamacare on the massachusetts health care plan so i think he's doing the exact same thing that john edwards did when he refused to take on john kerry or john edwards and john kerry in

the two thousand and eight bits and two thousand and four years or whatever. you know he was running for vice president i think who in this case that field is so wide open he actually a miniscule especially has i mean he's the alternative to romney at this point romney implodes in what course unless they don't get him he's there so i don't see why he wouldn't be running program. i just think he just wanted to take that he could have been photographed you know that he really saw employed it's a good question i don't know why i did that he was so boring and maybe he was it like to get in fights on stage and want to think it's because rob has got four hundred million bucks in his own back pocket he's the most well funded of all the other candidates he's almost certainly going to be the party's nominee unless he really screws a badly and so he's ready for it i wasn't i mean let me just push back on that i don't think is going to the nominee i think the nominee was not on that stage last night i think are people going to jump in and they have a good answer better as christie just could offer his former employer with three hundred million bucks or stressed chris christie or paul ryan wrote courageous great candidate paul ryan the fields are already different. than john francis

jumped in today already announced that he would jump in today rick perry just on national t.v. if you will be different but i think what let me ask about points i mean what's your criticism you're the point he was just too nice and i thought i just saw him doing what what i saw john edwards doing and i remember at the time thinking to myself john edwards this guy's not running for president running for vice president and i think i was right i am fairly convinced poland is running for president and i don't see one of attack of him being just too nice in the republican party ever since reagan and he talked about his eleventh amendment which was that never criticize or a repub fellow republican i think he is along the same lines here we had him into the office couple months ago and he and a reporter recently talked to him a couple weeks ago and wrote a lengthy piece for us he he will always refuse to knock any of the other republicans up i think the sunday shows actually now grecian from who he is and how

he's going to run it is going to be one off. romney was. that that's the part that's really out of character yesterday's. quick clip from the from the. debate i'm reluctant to call it a debate i didn't hear any debating actually but. whatever the debate last night about the war about workers. i would wait for my journals i'm the commander in chief i make the decisions i tell the generals what to do and i'd bring them home as quickly as possible and get them on of iraq as well and i wouldn't start a war in libya i'd quit bombing yemen and i'd quit bombing pakistan i'd start taking care of people here at home because we could save hundreds of billions of dollars our national security is not enhanced by our prisons over there we have no purpose how this this is you know ron paul's position on the war is increasingly

becoming the american people's position that i completely disagree ron paul also didn't favor going in and shooting good lot in the face without notifying the pakistanis i think ron paul is out of the mainstream on war and i don't you know well i mean if that was the case maybe i don't know what he what his position on bin ladin was but i don't think most americans would agree with that but most americans do agree now republicans and democrats it's time to get up. i mean it's not that there's a difference but saying that they want to draw down in there certainly there's a move by some people in that direction in taking wrong policy should a position which is far more. isolationist and some isn't sure there are any of these other candidates in favor of getting out. i don't know what they didn't make it exactly clear romney had a decision that bill isn't isn't clear and still isn't fleshed out it's still early in the campaign huntsman is running to the left of obama on foreign policy i don't think any successful republican candidate is going to run to the left of obama on foreign policy i think republicans are best arguing that obama is what it what's

right or left about having or not having a war you mean right right means you are right war and love means you don't write political not you love war but that you love that you love america and you love peace and freedom that you and that you sometimes he opened the doors that you know your message eisenhower did and he said it very well with your opponents order to in order to maintain you know eisenhower to campaign slogan was one hundred fifty two when he ran for president. he had there was a great t.v. played here before he had it was an elephant walking across the stage a cartoon of an elephant was beating a drum and drum had the word peace on it and the slogan was vote for eisenhower vote for peace he was people happy and the war in korea the absence of war doesn't mean the proliferation of peace across the globe sometimes war establishes peace now you have a defense secretary robert gates he's leading me about a ministration who has put in my book republic the democrats saying that we shouldn't be cutting and running at a time when we're pushing the taliban on their back foot so i don't think the republican candidate will. help daniels saying you know go to the left of obama in

so far in saying establishing to get us consented to ron paul position is immediately withdrawal dr paul ryan foreign policy address just two weeks ago and he made it clear in. the middle east is changing. america needs to. be. interested in seeing the interest rate change so i think i think it's fair to characterize who he is so see how do you know if from if we if obama draws down a significant number of troops entering on election day it's going to be interesting to see other plays out. just very quickly here ok we're we're out of time again you jamie thank you thank you both thank you for having us good talking . when the debate and it's good talking points aside i think what best personifies the republican party is a little incident that happened in chattanooga tennessee who was there that republican congressman chuck fleishman he said without gas at

a local gas station for the day part of a publicity stunt to call for more oil drilling so he cut a deal with local racetrack gas station was given a one day gas pumping good unfortunately make room for congressman fleishman the gas station had to send one of its actual employees just a louis home costing the us a day's paycheck as you can imagine he was and please take a look. no three was there as the congressman pumped gas and mingled with customers the mua says he's a johnson wanting to be there for the meet and greet cost him a day's pay i needed that shift. you know obviously i don't make one hundred sixty five thousand dollars a year so missing a day means a lot more to me. but isn't that what the republican party is all about today bells whistles and publish the stunts to make it look like they care about the working class but in reality they're just looking out for the banks of the billionaires. it's time for our daily poll your chance to tell us what you think here's the day's

question the repeal of don't ask don't tell is nearing the finish line will make it your choices are yes defense secretary gates has confirmed he will sign to repeal lot of this month and in sixty days it will officially end or know last night nearly all republicans if they would reinstated if and if elected those taking away civil rights for gays log out of town aravinda kabul is not what you think the poll be open till tomorrow morning. after the break our politicians love affair with the stock market has ruined our economy. let's not forget that we had an apartheid regime broke.

i think. beautiful and on the oil. we never got the goods says they're going to keep you safe get ready we can give them freedom. are we. you know sometimes you see a story and it seems so. you think you understand it and then you glimpse something else you hear see some other part of it and realize that everything you thought you knew you don't come to our culture is a big issue. for

. a great transformation has taken place in america over the last thirty years and this chart best illustrates that our economy used to be based on manufacturing and building things in one nine hundred forty seven america's manufacturing sector accounted for a worker our nation's g.d.p. that only makes up about eleven percent and we can thank so-called free trade for

the decline so what sector has filled the hole left by outsourced manufacturing wall street which has grown from being only one tenth of our economy in one thousand nine hundred seven to more than twenty percent of our economy today and during this surging profitability wall street's mad scientists have mixed together a rate of complex financial concoctions like credit default swaps and collateralized debt obligations to make more and more money basically for themselves without actually producing anything perhaps those frightening wall street creations what's known as i frequency trading it was a sixty minutes piece from last year on high frequency trading. it may surprise you to learn that most of the stock trades in the u.s. are no longer being made by human beings but by robot computers capable of buying and selling thousands of different securities in the time it takes you to blink an eye just forty years ago high frequency traders accounted for thirty percent of the stock trades in the u.s.

today and it's the most range as high as seventy percent in what this new economy depending on high frequency trading and exotic finance or financial instruments has consequences as we learned in the two thousand and eight financial crisis that exposed the underlying dangers of complex derivatives and as we learned last year with high frequency trading computers caused a flash crash of the powers and points of the stock market just a matter of minutes so how do we rein in wall street and keep our economy safe from their tricks siri anderson has an idea that has something to do with the tax she's the director of the global economy project at the institute for policy studies and she joins me now sarah welcome great to be here. this step texas what you're talking about with the securities transaction excise tax we're talking about the idea of putting a very very tiny tax about a quarter of a percent or so i'm each trade of stocks and derivatives and foreign exchange and

it would have to call this kind of financial speculation tax it would help generate a lot of money for good things which we know we need and the second goal would be to put a curb on the kind of short term financial speculation you're talking about to discourage the kind of high frequency high risk trading that has very little social value and makes our financial system so much more volatile well the here's the problem the you've got a bunch of hedge funds and a bunch of banks that are doing high frequency trading in their back rooms and making a fortune out of it they're not really they're not manufacturing one thing that's useful for anybody in the world. they're not increasing the wealth of our nation to use out of smith's metaphor because you know you sort of nation the nation's wealth is the stuff that gets made you have to get a tree limb in your early to actually handle you know now you've created wealth you can't see and you could even get multi-generational wealth these people are producing absolutely nothing but they're producing

a lot of cash and because of the citizens united decision and in previous ones you know the book reverses boyo national bank versus the lobby all the way back to the first national bank of. santa clara county versus other pacific railroad eighty six the string of supreme court decisions and basically said whoever has the cash has to buy the politicians and you can't call it bribery anymore so now that this industry has been created what makes you think that there's any possibility the politicians will be able to resist it i mean the east guys are making so much cash they could yeah and there was a front page story in the new york times yesterday about how obama welcomed the wall street executives to the white house that time and i warm up relations with them before the election campaign starts going because he needs money for for at that campaign one thing i point to as an alternative is looking at the european system where leaders there are not immune to the pressures of their financial

lobbyists but they have a lot less dependence on them and that's why we're seeing so much more progress than issues like this around financial speculation taxes in the european countries just today the french parliament had a vote on a resolution to adopt such taxes throughout europe it passed almost unanimously and i think one explanation for that is because of our different approach to campaign finance and that's a huge it does feel for the room and nobody talks about everybody else there's a lot that people can be doing here and i want to say there is tremendous energy around this issue about making wall street paid for the concept that the nomic price the national nurses united which is a. union representing registered nurses is doing a big rally on wall street on june twenty second and it's part of a global day of action on this issue around tax thing financial speculation they'll be groups in at least twenty five countries taking similar action so there is tremendous momentum we need to be ready for when that political opportunity constitution ideas like this through and i think if they can get such taxes

implemented in europe they start raising a lot of money off of it in the sky doesn't come falling down policymakers here are going to have to take a second look at this and think maybe this isn't such a dumb idea maybe we do need that revenue and we should be following nearly absolute very i wrote a piece for common dreams on the steps back in two thousand and eight suggesting we should have it pointed out that we financed the civil war with the tax we financed the spanish-american war with the tax we stopped and then we started one thousand nine hundred fourteen that going to world war one and that held until nine hundred sixty six in fact after yard shifted one hundred thirty five and created the a c c he allocated all the revenue from the state tax to fund the a c c put joe kennedy in charge of a glorious swanson told me one night but one afternoon we were having lunch she said joe was of her manager and whatever she said he said the f.d.r. put him in charge of the f.c.c. because you need to work to catch the crooks but anyhow the s.e.c. by sixty six the reason that the end of the tax was because the state texans

producing so much more revenue than the s.e.c. cost they said you know. so i mean we've done it here the countries that have stood taxes u.k. france japan germany italy greece australia france china chile alasia india austria and belgium i mean this is not it is not going to be controversy and you know it started before here and you know treasury secretary geithner has said well i haven't seen a version of this tax that i think would work and it i wish he would more seriously look at this issue because there are countries out there that are already implementing such taxes raising a lot of money that goes for good purposes the. and it with in the middle of a fiscal crisis and in the wake of a financial crisis we think this is an idea whose time has really come in the u.s. and and and it's amazing in europe also to see that it has appeal across the political spectrum they're still able to have rational discussions about fair taxation across the political spectrum there and we need to bring that back in the

lobby i think the thing that you're doing really well is when i was writing about it and someone would watch to i was called was nuts like you know lousy messaging it's like s.-chip you know it sounds like something you want to step in you know the. you know program for kids you know so you're calling it i call it a financial speculation tax i have a lot of allies around the world who call it a robin hood tax in their countries because it is the general notion that we're targeting the real big time handlers in the financial casino here this is not a tax that the ordinary investor is going to feel that it's going to be virtually minute you know unnoticeable for the ordinary investor it's the big time gamble or is that would feel this hopefully it would encourage them to have more long term patient investment strategies instead of this you know high frequencies short term speculative stuff and so it really is a tax that would hit the second one of our society that is most under attack the

financial sector you know doesn't have the same kind of sales taxes and so forth as other taxes and so it be fair it would raise a lot of money it would help make our markets more stable to me it's a no brainer and i think we need to just keep pushing the idea here and tell we see that that opening we just have a couple seconds left do you have any regrets in congress for those absolutely about it doesn't bills have been introduced there are about one hundred fifty members of congress who have co-sponsored one or the other of them. we just haven't seen the traction in a lot of the problem there is because the way house has not been behind. and we're just hoping that they will especially with the change in the debate in europe opened their eyes to this possibility that could stop so many problems there right and it could be a revenue source and a time when everybody sister of the little budget absolutely at the center for economic and policy research estimates about one hundred fifty billion dollars a year could be raised on this kind of attacks. it would if the winner sir thank

you so much for dropping by tonight thank you. i'll have more on why wall street needs to meet with its proper place and still it's a. crazy alert are you playing with a wiener doll and on live action figure company that specializes in making talk of the town dolls like sarah pailin of iraq obama's releasing its latest creation the anthony weiner action figure that's right the company's not letting wiener the fade away without taking advantage of it if you anthony weiner figure is dressed in gym clothes retails for thirty nine ninety five another more anatomically correct adults only version of the anthony weiner dollars selling for ten bucks more let's just hope the action figure company is not planning a special end of the year rerelease of the anthony wiener doll to top everyone's christmas lists the tickle me wiener dog. coming out in jersey governor chris

christie has thought of a new way to fat the pockets of his former employer and it involves turning school kids into profit machines so. let's not forget that we had an apartheid regime right. i think. one well. whenever the government says they're going to keep him safe get ready because their freedom.

you know sometimes you see a story and it seems so. you think you understand it and then you glimpse something else and you hear or see some other part of it and realize that everything you saw you don't know i'm sorry is a big issue. for a. few.

blog about the big picture i'm tom arvin coming up in this half hour the roses don't smell too great for the garden state's public schools governor chris christie and his g.o.p. coro corporate boards claim to rob the system meanwhile front runner for the republican white house seat that romney is catching a lot of heat from his party for his take on global warming could it possibly be the only sane republican in the bunch just with regard to that topic and while millions of americans are seeing their paychecks get smaller some even disappearing the bankers on wall street are pocketing big profits huge incised really tate i'll

break down how j.p. morgan chase ripped off a county governments so badly if their police could no longer afford to show up for traffic accidents. new jersey is becoming ground zero in the republican campaign to turn public schools into corporate profit centers governor christie's education plans include a new eight hundred twenty five million dollars private school voucher program paid for by cutting eight hundred twenty million dollars out of the public education budget program was designed by christie and his education commissioner held by the name of christopher serf who just happened to previously be the president of the world's largest for profit school corporation edison school thinks so is.