Donald Trump Ramping Up Rhetoric; Warren Buffett Attacks Donald Trump; Zika Threatening the U.S.; Campaign War Of Words; Trump Versus

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MARIA-01

Trump; Zika Threatening the U.S.; Campaign War Of Words; Trump Versus

Clinton; Student Loan Defaulters; BMW To Build A Racecar - Part 2>

Kucinich, Gary Gastelu >

Clinton; Polls; Warren Buffett; Business; Energy; Zika; Health & Medicine;

Student Loans; Automotive Industry >

Turning to markets, oil driving the action crude below $40 a barrel earlier in the sessions. Back up, it's up almost 1 percent at the moment.

But in solidly in bear market territory as of the close yesterday, the move in oil has been pulling down stocks yesterday, and you have stock futures lower this morning.

In Europe, stocks losing ground with bank shares once again under pressure.

And in Asia overnight, markets were mixed. The Japanese government approving a $273 billion stimulus program, to help the country's struggling economy. And Hang Seng was closed, because of a typhoon that hit the region.

Donald Trump and Hillary Clinton turning their focus on one another, as they hit the campaign trail, ramping up attacks, going at it.

(BEGIN VIDEO CLIP)

TRUMP: And I am telling you, November 8th, we better be careful because that election is going to be rigged and I hope the Republicans are watching closely or it's going to be taken away from us.

CLINTON: For the life of me, I don't know why someone runs to be president of the United States, who thinks and says we never win anymore.

(END VIDEO CLIP)

MCDOWELL: Here to weigh in on the escalating war of words, Fox News contributor and former congressman, Dennis Kucinich. Congressman, always terrific to see you. I know that Hillary Clinton had Warren Buffett behind her. How does that help her if she is running against a completely anti- establishment candidate?

FORMER REPRESENTATIVE DENNIS KUCINICH (D), OHIO: Well, Warren Buffett is one of the smartest businessmen in the world so I think that Hillary Clinton is certainly aligning with business interests, and I think you know Warren Buffett self-made man who has had extraordinary success so I don't think that hurts her.

MCDOWELL: Then he believes in raising taxes and part of her tax plan is 30 percent tax on people who make more than $2 million a year.

KUCINICH: Well, the -- the idea of making those who make more pay more is not a new idea. We've got to be careful though that this idea of increasing taxes, somehow doesn't filter down to those who are working hard trying to get ahead and small businesses who are attempting to just survive.

And also, tax increase can be a disincentive and we've got to be very careful when we start talking about that in terms of an election. I am not reflectively for tax increases at any time.

CHERYL CASONE, FOX BUSINESS: Cheryl Casone, I am sorry, Dagen. I'm just really curious. Yesterday, Warren Buffett went after Donald Trump and he used a very specific example, saying, that he was approached about the casinos back in the 90's. That he said it was a bad business.

You've got Michael Bloomberg. You've got now Warren Buffett and Mark Cuban going after businessman Donald Trump. Is this something that Donald Trump should be worried about?

KUCINICH: Absolutely. You know, his grand is a successful billionaire businessmen and when you have other successful billionaire businessmen, who join in the criticism that is something that could end up having an impact.

However, I would like to say, that the American people are interested to hear from both candidates or all candidates. What are you going to do? You know, what will do you with the economy?

How we get people back to work? How will you improve educational opportunities, health care opportunities? What will you do about retirement security, which many people are looking at with dread?

MCDOWELL: Congressman, can I raise an issue, though, because what you talk about -- like the last seven and a half years in terms of the economy and I know we were coming out of a deep recession, but they have been really lousy.

And people feel that, and if I listen to you, and read between what you are saying, you are not really on board with what Clinton is proposing?

KUCINICH: Well, you have to keep in mind, as a member of congress I supported an infrastructure bank of modernization with a Republican, Steve (inaudible) of Ohio, and I am -- you know, I have had my differences with the approach that Democrats have taken, which have not always been sympathetic to main street.

You know, I actually worked with Mike Pence, against bailout of Wall Street. I felt there was a moral hazard. I felt that people who bet in the casino of Wall Street -- they take chances, if they lose, they lose.

The taxpayers should not bail them out, but we have some serious structural problems in our economy that deal with monetary policy, the role of the fed, and our ability to meet needs of the people.

And frankly -- you know, both parties have failed the American people, which is why I say there is an opening that's created for third parties in this election, I just don't know if they are going to be enough ballots to make a difference.

DAVID WEBB, RADIO TALK SHOW HOST: Congressman, David Webb here. Look, the millionaires' taxes they like to call it, always ends up going lower. We have seen it at the states. It never stays with people two million above.

You get involved with people or individuals. They have (inaudible). It ends up depressing growth for people in that quarter million range combined incomes.

So why did the Democrats keep pushing this and telling us that they are for Main Street. It doesn't work. It always ends up hitting Main Street.

KUCINICH: Well, you know, I think one of the even bigger problems is the fact that these big corporations move offshore to avoid taxes.

WEBB: Yes, but Main Street isn't moving offshore. Let's talk about --

KUCINICH: No. Listen, that is where I am from. I am from Main Street. I've represented Main Street and I can tell you that Main Street wants jobs. Main Street wants to be able to get part of their productivity gains. That is that is the issue.

I mean, I am not here as an advocate of more taxes. I am not someone who just will go out reflectively and say oh, if we have more tax increases that is going to solve problems in the economy. The inequities in our economy are structural and they are not simply due to the way tax system is structured.

MCDOWELL: Congressman, it was great to see you. Thank you so much for being here. We are digging into some serious issues and I know that voters across this country are doing the same thing. Thank you again, Congressman.

Coming up, Virgin Galactic jumping back into the space race after being sidelined following a crash. More on its rocket test.

And another insurer getting hit by Obamacare, how Aetna is scrapping expansion plans after being hit by the effects of the not so Affordable Care Act?

(COMMERCIAL BREAK)

MCDOWELL: Welcome back, everybody. Futures pointing to a lower open, but also lows of the morning so far, and we're looking at stocks on the move.

Aetna the latest health care company pulling back on Obamacare. The insurer saying that it has scrapped plans to expand its Obamacare business next year, and review how and if it will continue in the 15 states it is currently in. The announcement coming in Aetna earnings report, and that is just the latest insurer doing that.

Staying on that issue of health care, Pfizer set to report earnings. Analysts looking for Pfizer to come out with sharply higher second quarter sales and earnings thanks to growing revenue from newer drugs.

Investors will also look for clues on whether the drugmaker will split into two companies following collapse of its deal to acquire Allergan. Again, it collapsed because the Obama administration crushed it.

The merger activity in the tech sector continues, sales force acquiring software maker, Quip (ph), for about $582 million.

And then we move on to other news, the Orlando nightclub where 49 people were killed in a shooting in June may reopen as a memorial. Cheryl Casone has that and other headlines. Hi, Cheryl.

CASONE: Dagen, yes, this is so interesting what may happen to this club now. The club's owner says that he hopes to reopen the site as a memorial for those killed during the deadliest mass shooting in U.S. history.

Pulse management said in a statement that it is raising money towards this memorial. The announcement posted on one of Pulse Foundation social media accounts.

Now this foundation was set up we should say by the night club's owners to provide financial assistance to the victims and it contribute to the creation of a permanent memorial. We will keep you posted.

In businesses this morning for you, some good news for Virgin Galactic, the FAA has given Richard Branson's company the green light to resume testing its rocket plane following a fatal test flight that happened back in 2014.

If these flights go well, Virgin Galactic could eventually start carrying passengers to the edge of space. I know David Webb wants to go the. The company was rocked by a high profile crash 20 months ago that was caused we should say by pilot error at the time.

Well, South Korea suspending sales of 80 Volkswagen models. The country says the German carmaker sold 83,000 cars using fabricated documents on emissions or noise level tests since 2007. South Korea also fines Volkswagen $16 million. This comes after the country fined the automaker about 13 million for falsified emissions data in its diesel vehicles.

Finally this, Dagen, listen to this, taxpayers may end up footing the bill for more than 100 billion of bad student loans. More than 7 million Americans are in default on their loans. They have not made a payment more than a year.

They've ignored hundreds of phone calls, e-mails, text messages and letters from federally hired debt collectors. About 16 percent of the roughly 43 million Americans with student debt considered to be in long term default.

Often people can't pay because, well, they don't have a job but whatever, anyway, Dagen, in any case taxpayers may end up responsible for $125 billion of debt, because, you know, just don't pay your bills because that is OK.

MCDOWELL: And this is -- I want to point out the article in "The Wall Street Journal" does this as well, the Obama administration actually wants to help these people, help them slash their monthly payments actually forgive a portion of the debt.

If you can prove you were defrauded from some school then there is a debt forgiveness program and they still aren't paying, they -- they don't even care about the government, they just don't pay.

WEBB: Right, but they don't want to pay attention to the full issue. It's nice to say we're going to forgive your debt. We are going to give you something for free. One not for free it is taxpayers expense.

Two, why are they not paying the loans? There are deadbeats who don't pay their loans. But they are not paying because the job market is gone.

We're not really at 5 percent unemployment. They can't get a job. They can't grow out of a job and jobs are not advancing so we've got to look at the total economic structure.

MCDOWELL: The left always blames the lender. They always blame the government.

WEBB: Right, but my point is --

MCDOWELL: That it's like you were somehow hoodwinked into taking these loans out and that rejects all personal responsibility.

WEBB: Right. You were smart enough to go to college, but you weren't smart enough to decide that you were going to take a loan out and pay it. But the overall effect is a depressive effect on the economy and if this bail out comes, well, it will be bailed out at the cost of the people and they still won't have a job.

MCDOWELL: I want to give a thumbs to the government, though. They are garnishing wages. They've actually gotten tough in the last -- the nine months through March, they've garnished more than half a billion dollars in people's wages. You know they are going to get -- anger directed at the government for doing that.

MICHAEL BLOCK, RHINO TRADING PARTNERS CHIEF STRATEGIST: Sure, there is a massive structural issue here. I actually predict that, you know, within our lifetimes, there is a higher education in this country is going to look a lot different. Let's face it, you can go --

MCDOWELL: For better let's hope. Where it is --

BLOCK: Yes. Where you are getting more value for what you are getting, you know look you can go online right now and learn anything. I am learning math online. I'm learning programming online. It's all free and this is going to be the wave of the future. It's just going to require some secular change.

MCDOWELL: What's that nickname for you?

BLOCK: Abacus man.

MCDOWELL: Right. You just said I'm learning math online.

BLOCK: Yes, like I said never stop learning.

MCDOWELL: I was right so nickname wasn't --

BLOCK: It's all good, but my point being you don't need to pay for it. The problem is there is no recourse for -- (inaudible) student debt. If you don't pay car, they take your car away. They take your house away. What are they going to do? Lobotomize somebody?

MCDOWELL: Well, there is recourse now because they are going after people's wages.

BLOCK: OK, so they are set, but you have to communicate otherwise there is no recourse.

MCDOWELL: Right. You don't have to be a racing champion, a Formula One champion to drive this car. Coming up, a look at BMW's plans to put race cars on everybody's streets.

(COMMERCIAL BREAK)

MCDOWELL: If you ever want to own your won race car, your chance might be coming up, BMW announcing that the company will build a factory race car that you will be able to purchase. Joining me now is foxnews.com automotive editor, Gary Gastelu. This is -- what car is this from BMW, this is part of the M-series.

GARY GASTELU, FOX NEWS.COM AUTOMOTIVE EDITOR: Yes, it's the M-4 GT4, GT4 is a class of racing. There is a lot of companies building cars in this class right now. You can get one from Porsche, McLaren, (inaudible) actually drove an (inaudible) version a couple of years ago.

They've realized there is guys that are willing to spend lots of money on these super cars they can't drive on the street. We can sell them race cars too so they don't have to go build them themselves.

A lot of them will take them racing. A lot of them will just take to them to the track. They have some fun doing laps.

MCDOWELL: So this is a six-figure car, but how does it compare, you've told me in the break, it's going to run about $135,000 do you think?

GASTELU: Probably around 135,000, 150,000, twice as much as the version of the M4.

MCDOWELL: David, I want to get in here. Here is the issue because I've owned a couple of super -- not super cars but they are superfast cars, and I couldn't drive them on streets. They really are made to be driven on racetrack. And when you are driving them around in traffic, it is frankly dangerous like I don't trust myself because you want it wide open and you can't drive it like that.

WEBB: So here is what carmakers have done in the last few years. We see the return of muscle. They have taken handling and control and made a muscle car drivable on a daily basis.

Porsche did this with the advancement of Techtronic. They made it so you can actually get it through traffic. The Ford Mustang or Porsche with the 911, the Ford Mustang, we are talking about a car, 662 horsepower, going through 2014-2015-2016 GT-350.

You look at even Camaro trying to step up into that market, but coming back with handling and power that you can handle on a daily basis.

MCDOWELL: There were restrictions on how fast these cars will go on the streets out there, but they are still about incredibly fast compared to other cars.

GASTELU: It's more about power. You know, car like this actually has restrictions. It's not as powerful as a lot of street cars you can buy for the same amount of money. But when you make a race car, the handling, the suspension, the grip, it's so much different than a street car.

And when you take that on track, it's such a treat to drive so a lot of people again, they might not actually go racing with it, but they are going to want that experience.

MCDOWELL: If you get popped speeding over 100 miles an hour, they will throw you in jail. They will throw you in the clank -- by the way, hasn't happen to me, with auto makers -- I want to talk about July auto sales out. They are going to be coming out today, what are we looking at probably?

GASTELU: Probably a little bit of an increase, but things seemed to be plateauing right now. You know, we had that report from Ford last week that they are looking at a little softer outlook for the rest of the year.

Might see a shift, yes, they've been making a lot of money, the transaction prices have been going up now. Everybody saw a lot of very expensive trucks and crossovers.

But maybe they've sort of reached the limit on that, you might see more on deal side. You know if you want to deal right now, you want to buy a car, not an SUV. There is lots of money on the hoods right now.

People just don't want sedans anymore. You know, you go to a Cadillac dealership right now, the new XT5 Crossover, no money on the hood, the CT5, I'm sorry the CT5 sedan $5,000, $4,000 on hood for that. ATS have been $3,000 dollars. That's really where the deals are right now.

MCDOWELL: Do you think that they can maintain the all -- car companies can maintain kind of strong phase of sales like do you expect like significant weakness in the next six to 12 months?

GASTELU: Probably not significant, but the temptation is, look, do we sell cars cheaper and sell more of them and move back towards -- keep our numbers up or do we go for the profits instead and not worry about these monthly sales report.

MCDOWELL: What are you driving right now?

WEBB: Right now, I'm driving a Toyota. That is a great car like Mercedes (inaudible), but you know, there is something to this because if you look at Ford, for instance, the F-150, the bestselling truck out there.

They now have the (inaudible) model. They have the Raptor. They are testing the market and to your point, that big SUVs move more in crossovers. They are looking at the use of the vehicle, looking at efficiency, and these modules, the Echo Boost, they are getting much more efficient. Chevy doing similar things win the (inaudible) and newer models.

MCDOWELL: Final word to you.

GASTELU: Fuel efficiency not a big deal right now. Luxury technology is in a price tag on that take off the lot.

MCDOWELL: I have a new car in my family that I didn't know we were buying --

GASTELU: Dropping money.

MCDOWELL: It is new used but new to me. Thank you, Gary. Good to see you. Gary Gastelu.

Coming up, union employees of budget airline, Southwest, calling for their CEO to get the boot, we'll tell you in the next hour. So much to cover on MORNINGS WITH MARIA. We'll be right back.

(COMMERCIAL BREAK)

MCDOWELL: Good morning. I'm Dagen Mcdowell. Maria Bartiromo will be back tomorrow. It's Tuesday, August 2nd. Your top stories at 7:00 a.m. Eastern Time.

Countdown to the general election, the debate schedule in focus as the candidates ramp up their rhetoric.

(BEGIN VIDEO CLIP)

TRUMP: In the polls, I want every single debate (inaudible) -- all right out of 11 every single debate. I looked so forward to the debate with Hillary, I look so forward.

CLINTON: For the life of me, I don't know why someone runs to be president of the United States, who thinks and says we never win anymore. Our country is full of losers.

(END VIDEO CLIP)

MCDOWELL: This as Hillary Clinton gets her own convention bounce in the polls. We'll bring you the latest from the campaign trail coming up.

Typhoon Nida slamming Hong Kong and Southern China. High winds and torrential rains disrupting hundreds of flights forcing Hong Kong stock market to be closed.

The parents of Anton Yelchin suing for wrongful death. The "Star Trek" actor was killed in June after his Jeep Grand Cherokee rolled backward in his driveway.

END

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