cnbc--2020-09-28--Biden takes aim at wealth inequality as he woos Black voters in battleground North Carolina

Democratic U.S. presidential nominee Joe Biden speaks at an outdoor `` Black Economic Summit '' while campaigning for president in Charlotte , North Carolina , September 23 , 2020 .
WASHINGTON — Democratic presidential nominee Joe Biden traveled to the battleground state of North Carolina on Wednesday for a Black Economic Summit , part of a broader effort his campaign has launched to woo entrepreneurs and Black voters .
It was Biden 's first trip to this key state since the coronavirus pandemic forced him to cancel campaign travel this spring .
In 2016 , President Donald Trump won North @ @ @ @ @ @ @ this year it is again considered a must-win for the Republican .
As of Wednesday , state polling averages showed Trump and Biden running neck and neck in the Tar Heel State , with Biden leading by a statistically insignificant 0.5 points .
This week 's CNBC/Change Research poll showed Biden with a 2-point lead in the state .
Adding to the urgency of the contest is that voting in North Carolina has already begun .
The first absentee ballots were mailed out on Sept. 4 .
On Wednesday , Biden 's campaign @ @ @ @ @ @ @ the former vice president delivered remarks and then took questions from a socially distanced audience of Black local business owners and community leaders .
Biden drew attention to several of his previously announced economic proposals , including his plan to provide an additional $ 70 billion to historically black colleges and universities .
He called for a national coronavirus business reopening standard backed by a multibillion-dollar federal testing and PPE supply chain , so that small business owners would not only have consistent health guidance , but the means to carry out those @ @ @ @ @ @ @ wealth gap and the reality that the pandemic 's ongoing economic shock has only served to widen economic racial disparities .
`` We have to break a cycle , and the cycle is that the African-American community , by and large , finds itself at the bottom of the economic heap when businesses are doing better and when things are good , '' said Biden .
`` Then when things get bad , they 're the first ones in the hole .
And when things get better again , they 're the last @ @ @ @ @ @ @ backs up Biden 's argument .
In August , the unemployment rate among Black Americans was 13 % , while among White Americans it was only 7.2 % .

Democratic U.S. presidential nominee Joe Biden speaks at an outdoor "Black Economic Summit" while campaigning for president in Charlotte, North Carolina, September 23, 2020.
WASHINGTON — Democratic presidential nominee Joe Biden traveled to the battleground state of North Carolina on Wednesday for a Black Economic Summit, part of a broader effort his campaign has launched to woo entrepreneurs and Black voters.
It was Biden's first trip to this key state since the coronavirus pandemic forced him to cancel campaign travel this spring. In 2016, President Donald Trump won North Carolina by nearly four points, and this year it is again considered a must-win for the Republican.
As of Wednesday, state polling averages showed Trump and Biden running neck and neck in the Tar Heel State, with Biden leading by a statistically insignificant 0.5 points. This week's CNBC/Change Research poll showed Biden with a 2-point lead in the state.
Adding to the urgency of the contest is that voting in North Carolina has already begun. The first absentee ballots were mailed out on Sept. 4.
On Wednesday, Biden's campaign hosted the summit in Charlotte, where the former vice president delivered remarks and then took questions from a socially distanced audience of Black local business owners and community leaders.
Biden drew attention to several of his previously announced economic proposals, including his plan to provide an additional $70 billion to historically black colleges and universities.
He called for a national coronavirus business reopening standard backed by a multibillion-dollar federal testing and PPE supply chain, so that small business owners would not only have consistent health guidance, but the means to carry out those recommendations.
Biden also addressed the racial wealth gap and the reality that the pandemic's ongoing economic shock has only served to widen economic racial disparities.
"We have to break a cycle, and the cycle is that the African-American community, by and large, finds itself at the bottom of the economic heap when businesses are doing better and when things are good," said Biden. "Then when things get bad, they're the first ones in the hole. And when things get better again, they're the last ones out."
Federal unemployment data backs up Biden's argument. In August, the unemployment rate among Black Americans was 13%, while among White Americans it was only 7.2%.


cnbc--2020-09-29--Here's what Joe Biden has to do in the first debate with President Trump

WASHINGTON — As President Donald Trump and former Vice President Joe Biden prepare to face off in the first presidential debate Tuesday , Biden has spent nearly a week diligently preparing for what is likely to be one of the most watched presidential debates in modern history .
Biden 's campaign has released few details about the former vice president 's debate prep , but they have said it 's being led by longtime Democratic debate guru Ron Klain , who was a key part of both Hillary Clinton 's and Barack Obama 's presidential debate teams .
The stakes @ @ @ @ @ @ @ .
Biden has held a consistent lead nationally throughout the general election campaign , but it has tightened in recent weeks , averaging just under 7 points among likely voters , according to Real Clear Politics .
Voters who have made up their minds already are n't really who Biden and Trump need to win over on Tuesday night .
It 's the small sliver of voters who might still change their minds .
According to a recent Quinnipiac poll , they 're about 5 % of likely voters .
Trump is an @ @ @ @ @ @ @ making false and misleading statements and veering off topic .
The debate moderator , Fox News ' Chris Wallace , has shown in the past that he can push back on Trump during interviews .
But Wallace will not be fact-checking Trump during the debate .
`` We do n't expect Chris or our other moderators to be fact checkers , '' Frank J. Fahrenkopf Jr. , co-chair of the Commission on Presidential Debates , told CNN on Sunday .
The debate topics will be Trump 's and Biden 's records , the @ @ @ @ @ @ @ , race and racial justice protests , and election integrity .
Here 's what Biden needs to do on Tuesday night to come out on top .
Political players on both sides of the aisle have been amazed this year at how much time and energy Trump and his campaign have poured into portraying Biden as a doddering old man , physically and mentally incapable of fulfilling the duties of the presidency .
Despite polls showing that the line of attack has n't moved the needle much , it remains Trump 's favorite @ @ @ @ @ @ @ to convince people that Joe Biden , he 's not , he 's not good for the position .
He 's not fit .
He ca n't handle this position , '' Trump said last week in response to a question about his overall campaign strategy .
To be sure , Biden is prone to verbal gaffes and he occasionally stumbles over words , the legacy of a childhood stutter he worked for years to overcome .
But Trump is also known for verbal stumbles of his own .
By portraying Biden , @ @ @ @ @ @ @ , Trump , 74 , has inadvertently helped Biden by setting a low expectation for Biden 's performance Tuesday .
By this logic , all Biden needs to do in order to have a good night is not get confused and misspeak .
Below is a Trump campaign ad emblematic of the kinds of attacks it has leveled against Biden over his mental acuity .
A few weeks ago , after six months of accusing Biden of cognitive decline , the Trump campaign abruptly switched gears to arguing that Biden is a master @ @ @ @ @ @ @ He 's really good .
Joe Biden is a politician , and this is what politicians do — they give speeches .
Joe Biden gave speeches for 36 years in the Senate , and he gave speeches and cut ribbons for eight years as vice president .
He 's really good at doing it , '' Trump campaign manager Bill Stepien said on a recent call with reporters , adding that Biden `` decisively won his [ vice presidential ] debates in 2012 and in 2008 . ''
Stepien then tried to lower @ @ @ @ @ @ @ `` has been in politics for five years , not five decades , '' and he is `` a doer , not a talker . ''
One of the keys to Biden 's consistent lead in the polls is that voters say they believe Biden has the `` right temperament '' to be president , and that he cares about people like them .
These are also cornerstones of Biden 's political brand , and key to his argument that he can help unite a bitterly divided nation .
Yet Biden has also @ @ @ @ @ @ @ flashes of anger directed at reporters , opponents and even voters who Biden perceives as attacking his personal decency and especially his family .
At times , that anger has been effective , as when Biden responded forcefully to reports that Russia was paying bounties for American soldiers in Afghanistan .
At other times , it comes off as bitter , like when Biden said to a voter in New Hampshire last year , `` You 're a damn liar , '' after the man accused him of `` selling access to the @ @ @ @ @ @ @ Ohio , Trump is expected to attack both Biden 's personal integrity and his family , especially his son Hunter Biden .
Trump and Republicans have spent thousands of hours and millions of dollars trying to establish a link between Hunter Biden 's time on the board of a Ukrainian company and the Obama administration 's policy towards Ukraine .
In 2019 , Trump was impeached for pressuring the government of Ukraine to help his reelection campaign tarnish Biden .
More recently , the attacks came in the form of a Republican Senate @ @ @ @ @ @ @ week , which accused Hunter Biden of having `` cashed in '' on his father 's fame but ultimately failed to find any malfeasance on Joe Biden 's part .
Expect all of these efforts to coalesce on Tuesday in a barrage of attacks on the former vice president 's son , just the kind of thing that has caused Biden to lose his temper in the past .
If Biden loses his temper on Tuesday , he risks undermining his argument that he 's a level-headed , compassionate alternative to the president @ @ @ @ @ @ @ , confrontational style , and he relishes conflict — be it with his political opponents , with the press , with U.S. allies or with adversaries .
This sets up a potential trap for Biden on Tuesday night , said Mitchell McKinney , director of the Political Communication Institute at the University of Missouri .
`` If Trump can keep the focus of the night on attacks and bickering , that 's time that Biden wo n't be spending prosecuting Trump 's record , '' McKinney said .
McKinney said that when he @ @ @ @ @ @ @ Trump 's debates with Clinton in 2016 , they found them to be the most conflictual debates in the history of presidential debating . ''
`` At the time , we only had two categories for classifying attacks in political debate , '' he said .
`` Was this an issue attack or a personal character attack ?
`` But we had to add a new category : 'name calling , taunting and denigrating ' attacks .
This came overwhelmingly from Trump 's side . ''
Biden needs to thread a needle , @ @ @ @ @ @ @ vigor , and letting Trump drag him into a mudslinging fight .
`` Forceful aggression can become a brawl , '' he said .
`` But if Biden sticks to his more reserved , senatorial style of debating , he could reinforce Trump 's argument of 'low energy ' Joe . ''
Creating distractions has long been one of Trump 's most effective rhetorical weapons .
When he 's confronted with tough questions in the White House briefing room , Trump typically changes the subject or he attacks the questioner .
In 2016 @ @ @ @ @ @ @ presidential debates , often ignoring the questions he was asked and responding instead with a diatribe on an entirely different subject .
This is something the Biden camp is expecting on Tuesday .
And nowhere more so than on the topic of the coronavirus pandemic , which has claimed more than 200,000 American lives .
Trump has admitted on tape to downplaying the severity of the virus .
He sought for months to foist responsibility for coordinating a pandemic response onto under-equipped states .
And he has repeatedly claimed the virus would just @ @ @ @ @ @ @ proven fertile ground for Biden campaign ads like the one below .
Biden needs to find a way to draw Trump back to the issues that Biden plans to hammer him on : The pandemic and the economic devastation it has caused .
`` We know that Donald Trump 's strategy is going to be to not talk about any of those things , because he wants to change the topic from what is really at stake here .
So we 're really focused on that , '' Biden 's campaign manager , @ @ @ @ @ @ @ Still , Biden himself is prone to going off-topic during his conversations with reporters and voters , often telling stories from his days in the Senate , raising obscure policy proposals , and emotionally connecting with people 's experiences .
Do n't try to fact-check Trump in real time This makes him a much more difficult debating opponent than most , wrote Philippe Reines , a longtime aide to Hillary Clinton , in a recent op-ed .
In 2016 , Reines played the role of Trump during Clinton 's mock debates with Trump @ @ @ @ @ @ @ fact-check Trump in real time would be a mistake for Biden .
`` The best way to deal with Trump , though , wo n't be to try to fact-check him in real time or to let lies and absurdities go in the hope that moderators — or viewers — catch them , '' wrote Reines .
`` There 's a third option : Preempt the president .
Clearly and strongly preview for the 100 million people watching what will happen in the debate as soon as it begins . ''
McKinney at @ @ @ @ @ @ @ Trump in real time is n't the best use of Biden 's time on stage .
`` If Biden is fact-checking each claim then he 's spending time looking backwards , when he could be prosecuting Trump 's record . ''
Trying to fact-check Trump also runs the risk of steering Biden into policy topics that do n't resonate with voters .
`` Biden will need to be careful he does n't get bogged down on policy , '' said McKinney .
`` In fact , our research over the years has shown @ @ @ @ @ @ @ details and facts tends to be viewed as the loser of a debate , not the winner , '' he said .
Focusing on policy details also risks obscuring Biden 's most appealing personal quality .
`` The degree to which Biden can keep this empathy front and center is a real challenge , '' said McKinney .
`` But it 's those personal qualities , his energy , his empathy and his temperament that are going to be crucial for Biden to hold his ground and not let Trump dictate how the @ @ @ @ @ @ @ will take place Tuesday at 9 p.m. EST at Case Western Reserve University and the Cleveland Clinic , in Cleveland .

Democratic U.S. presidential nominee Joe Biden speaks to attendees at an outdoor "Black Economic Summit" while campaigning for president in Charlotte, North Carolina, September 23, 2020. Kevin Lamarque | Reuters
WASHINGTON — As President Donald Trump and former Vice President Joe Biden prepare to face off in the first presidential debate Tuesday, Biden has spent nearly a week diligently preparing for what is likely to be one of the most watched presidential debates in modern history. Biden's campaign has released few details about the former vice president's debate prep, but they have said it's being led by longtime Democratic debate guru Ron Klain, who was a key part of both Hillary Clinton's and Barack Obama's presidential debate teams. The stakes are high for the former vice president. Biden has held a consistent lead nationally throughout the general election campaign, but it has tightened in recent weeks, averaging just under 7 points among likely voters, according to Real Clear Politics.
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Voters who have made up their minds already aren't really who Biden and Trump need to win over on Tuesday night. It's the small sliver of voters who might still change their minds. According to a recent Quinnipiac poll, they're about 5% of likely voters. Trump is an unpredictable adversary, combative and prone to making false and misleading statements and veering off topic. The debate moderator, Fox News' Chris Wallace, has shown in the past that he can push back on Trump during interviews. But Wallace will not be fact-checking Trump during the debate. "We don't expect Chris or our other moderators to be fact checkers," Frank J. Fahrenkopf Jr., co-chair of the Commission on Presidential Debates, told CNN on Sunday. The debate topics will be Trump's and Biden's records, the Supreme Court, Covid-19, the economy, race and racial justice protests, and election integrity. Here's what Biden needs to do on Tuesday night to come out on top.
Meet the bar Trump set
Political players on both sides of the aisle have been amazed this year at how much time and energy Trump and his campaign have poured into portraying Biden as a doddering old man, physically and mentally incapable of fulfilling the duties of the presidency. Despite polls showing that the line of attack hasn't moved the needle much, it remains Trump's favorite cudgel against Biden. "I have to convince people that Joe Biden, he's not, he's not good for the position. He's not fit. He can't handle this position," Trump said last week in response to a question about his overall campaign strategy.
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To be sure, Biden is prone to verbal gaffes and he occasionally stumbles over words, the legacy of a childhood stutter he worked for years to overcome. But Trump is also known for verbal stumbles of his own. By portraying Biden, 77, as an over-the-hill geriatric has-been, Trump, 74, has inadvertently helped Biden by setting a low expectation for Biden's performance Tuesday. By this logic, all Biden needs to do in order to have a good night is not get confused and misspeak. Below is a Trump campaign ad emblematic of the kinds of attacks it has leveled against Biden over his mental acuity. A few weeks ago, after six months of accusing Biden of cognitive decline, the Trump campaign abruptly switched gears to arguing that Biden is a master debater with decades of experience. "He's really good. Joe Biden is a politician, and this is what politicians do — they give speeches. Joe Biden gave speeches for 36 years in the Senate, and he gave speeches and cut ribbons for eight years as vice president. He's really good at doing it," Trump campaign manager Bill Stepien said on a recent call with reporters, adding that Biden "decisively won his [vice presidential] debates in 2012 and in 2008." Stepien then tried to lower expectations for Trump, saying the president "has been in politics for five years, not five decades," and he is "a doer, not a talker."
Show passion but not anger
One of the keys to Biden's consistent lead in the polls is that voters say they believe Biden has the "right temperament" to be president, and that he cares about people like them. These are also cornerstones of Biden's political brand, and key to his argument that he can help unite a bitterly divided nation. Yet Biden has also shown another side of himself, with flashes of anger directed at reporters, opponents and even voters who Biden perceives as attacking his personal decency and especially his family. At times, that anger has been effective, as when Biden responded forcefully to reports that Russia was paying bounties for American soldiers in Afghanistan. At other times, it comes off as bitter, like when Biden said to a voter in New Hampshire last year, "You're a damn liar," after the man accused him of "selling access to the presidency."
Democratic presidential hopeful former US Vice President Joseph R. Biden Jr. speaks during the second Democratic primary debate of the 2020 presidential campaign season hosted by NBC News at the Adrienne Arsht Center for the Performing Arts in Miami, Florida, June 27, 2019. Saul Loeb | AFP | Getty Images
On Tuesday night in Ohio, Trump is expected to attack both Biden's personal integrity and his family, especially his son Hunter Biden. Trump and Republicans have spent thousands of hours and millions of dollars trying to establish a link between Hunter Biden's time on the board of a Ukrainian company and the Obama administration's policy towards Ukraine. In 2019, Trump was impeached for pressuring the government of Ukraine to help his reelection campaign tarnish Biden. More recently, the attacks came in the form of a Republican Senate committee report that was conveniently released last week, which accused Hunter Biden of having "cashed in" on his father's fame but ultimately failed to find any malfeasance on Joe Biden's part. Expect all of these efforts to coalesce on Tuesday in a barrage of attacks on the former vice president's son, just the kind of thing that has caused Biden to lose his temper in the past. If Biden loses his temper on Tuesday, he risks undermining his argument that he's a level-headed, compassionate alternative to the president.
Don't get sucked into a brawl
Trump prides himself on his aggressive, confrontational style, and he relishes conflict — be it with his political opponents, with the press, with U.S. allies or with adversaries. This sets up a potential trap for Biden on Tuesday night, said Mitchell McKinney, director of the Political Communication Institute at the University of Missouri. "If Trump can keep the focus of the night on attacks and bickering, that's time that Biden won't be spending prosecuting Trump's record," McKinney said. McKinney said that when he and his colleagues at the institute analyzed Trump's debates with Clinton in 2016, they found them to be the most conflictual debates in the history of presidential debating."
Republican U.S. presidential nominee Donald Trump and Democratic U.S. presidential nominee Hillary Clinton speak during their presidential town hall debate at Washington University in St. Louis, Oct. 9, 2016. Jim Young | Reuters
"At the time, we only had two categories for classifying attacks in political debate," he said. "Was this an issue attack or a personal character attack? "But we had to add a new category: 'name calling, taunting and denigrating' attacks. This came overwhelmingly from Trump's side." Biden needs to thread a needle, McKinney said, between showing energy and vigor, and letting Trump drag him into a mudslinging fight. "Forceful aggression can become a brawl," he said. "But if Biden sticks to his more reserved, senatorial style of debating, he could reinforce Trump's argument of 'low energy' Joe."
Stay on topic
Creating distractions has long been one of Trump's most effective rhetorical weapons. When he's confronted with tough questions in the White House briefing room, Trump typically changes the subject or he attacks the questioner. In 2016, Trump did the same thing in presidential debates, often ignoring the questions he was asked and responding instead with a diatribe on an entirely different subject. This is something the Biden camp is expecting on Tuesday. And nowhere more so than on the topic of the coronavirus pandemic, which has claimed more than 200,000 American lives. Trump has admitted on tape to downplaying the severity of the virus. He sought for months to foist responsibility for coordinating a pandemic response onto under-equipped states. And he has repeatedly claimed the virus would just "disappear." These issues have proven fertile ground for Biden campaign ads like the one below. Biden needs to find a way to draw Trump back to the issues that Biden plans to hammer him on: The pandemic and the economic devastation it has caused. "We know that Donald Trump's strategy is going to be to not talk about any of those things, because he wants to change the topic from what is really at stake here. So we're really focused on that," Biden's campaign manager, Jen O'Malley Dillon, said recently. Still, Biden himself is prone to going off-topic during his conversations with reporters and voters, often telling stories from his days in the Senate, raising obscure policy proposals, and emotionally connecting with people's experiences.
Don't try to fact-check Trump in real time
According to The Washington Post's running tally, Trump has made more than 20,000 false or misleading statements since he was inaugurated.
U.S. President Donald Trump talks to reporters as he departs for travel to Florida from the South Lawn at the White House in Washington, U.S., July 10, 2020. Tom Brenner | Reuters


cnbc--2020-09-29--Here's what President Trump has to do in the first debate against Joe Biden

Just over five weeks remain until Election Day , and according to the polls , Biden is leading the race for the White House .
`` The president has more pressure on him , '' said Aaron Kall , director of the University of Michigan 's debate program .
`` Something has to happen that is going to radically change the trajectory of the race and the narrative of it .
You ca n't just fight Joe Biden to a draw , '' Kall said .
Kall warned that Trump ca n't simply rely on the expectation that Biden will @ @ @ @ @ @ @ sounds like a big part of the strategy is , we 're going to have these three debates and Joe Biden 's going to be exposed and his age and forgetfulness are going to come out , and all of a sudden he 's going to be disqualifying to some portion of the public . ''
This is the wrong move , Kall said .
`` You ca n't operate under the assumption that your opponent is going to make errors and you can then just capitalize on them .
You have to @ @ @ @ @ @ @ that you have to do something to really try to move the needle , '' he said .
Former Republican Sen. Judd Gregg , who helped prepare George W. Bush for his debates in 2000 and 2004 by role-playing as Al Gore and John Kerry , told CNBC that Trump needs to temper his pugnacious style .
`` He has to come across as showing that he understands that he 's there to govern effectively for all Americans , '' Gregg said of the president .
`` This election is only about a @ @ @ @ @ @ @ Almost the entire electorate has their mind made up , '' Gregg said .
The Trump campaign appears to agree that Biden 's reputation for making gaffes may not guarantee a victory .
Until a few weeks ago , the campaign 's attacks on Biden focused on raising doubts about his cognition and suggesting he 's a `` Trojan horse '' for a far-left policy agenda .
But ahead of the debate , Trump 's team has taken a completely different tack .
`` Joe Biden is a master debater who knows what @ @ @ @ @ @ @ spokesman Tim Murtaugh told CNBC in a statement last week .
Biden , said Murtaugh , `` has been a Washington politician for 47 years , debated very well twice while running for vice president , and just came through 11 debates in the Democrat primaries where he defeated two dozen challengers . ''
The Trump campaign has declined to comment on the details of the president 's debate preparations .
Trump said Sunday that his personal attorney , Rudy Giuliani , and former New Jersey Gov .
Chris Christie are helping him @ @ @ @ @ @ @ debates every day by being president and building an excellent record to run on for reelection , '' Murtaugh had told CNBC .
Gregg said it 's natural for campaign operatives to `` want to raise expectations for your opponent and lower expectations for yourself . ''
`` But I do n't think anybody will buy that , '' Gregg added .
Take advantage of the topics The debate moderator , Fox News ' Chris Wallace , has selected six topics for the debate .
They are : • Race and violence in @ @ @ @ @ @ @ election The economy is likely Trump 's strongest card in the deck , despite recent polling that shows Trump 's lead on that issue diminishing amid the pandemic .
The Supreme Court is also an area of potential advantage for Trump .
The president on Saturday formally nominated Amy Coney Barrett to fill the vacancy on the high court following the recent death of senior liberal Justice Ruth Bader Ginsburg .
Barrett , a conservative judge who shares the philosophy of the late Justice Antonin Scalia , could be confirmed by the Senate @ @ @ @ @ @ @ , it 's something that favors Republicans , '' Kall said .
`` Having a candidate actually now with a name that people know , it 's always easier to defend ... when there 's an actual nominee , he can extol that person and their background . ''
Doing so could help increase turnout and enthusiasm among Trump 's base and could serve as a springboard for him to discuss the large number of judges confirmed during his administration .
While the Trump campaign may not be able to reverse its monthslong @ @ @ @ @ @ @ 's campaign is not without its weaknesses .
Trump has lowered expectations for Biden , which played to the Democrat 's favor in his well-reviewed speech at the Democratic National Convention .
But it remains the case that Biden has been less willing than Trump to go before the press to be cross-examined and answer tough questions .
`` He has n't subjected himself to an interview with Chris Wallace like Trump has , '' Kall said .
Gregg said that Biden 's `` weakest card is that he has a very hard @ @ @ @ @ @ @ He 's going to have to deal with the president , who is inherently unpredictable , so he 's got to be quick on his feet , '' Gregg said of Biden .
Another issue for Biden could be his temper , of which he 's shown flashes throughout his campaign .
`` He does seem like he 's got kind of a short fuse sometimes , '' Kall said .
Trump might try to stoke Biden 's anger by bringing up Hunter Biden , the former vice president 's son , whose @ @ @ @ @ @ @ under scrutiny during the impeachment proceedings against Trump .
A GOP-led Senate committee released a report last week calling Hunter Biden 's connections `` problematic , '' while Democrats and the Biden campaign have accused Republicans of conducting a smear campaign .
`` That 's one place where he 's definitely vulnerable , '' Kall said of Biden .
With more than four decades in politics , Biden also has a much longer record to defend than Trump .
Biden may face questions on his prior stances on the Iraq War and the @ @ @ @ @ @ @ for instance .
The president , 74 , may also bring up the age of Biden , 77 .
Know your ( lack of ) audience In normal times , a presidential debate would be held before an audience of hundreds .
But with the coronavirus still wreaking havoc in the U.S. , just a few dozen people are expected to watch the debate in person .
This could pose real problems for Trump , who has never shied from a crowd .
Biden , on the other hand , has experience here @ @ @ @ @ @ @ Bernie Sanders , I-Vt. , which came during an initial crest of fear about the Covid-19 crisis , was held without a live audience .
`` I think the most difficult thing for the president is going to be , when you have a crowd , you have a sense in real time of what 's working , '' Kall said .
`` When you do n't have that feedback , you kind of doubt yourself more , so you do n't know whether to continue what you 're doing or try something @ @ @ @ @ @ @ to have to trust his own instincts , and that could be correct , but he could be misreading things , '' Kall said .
`` Unfortunately , you do n't know the answer to that until the debate ends , and by then it 's too late . ''
A swell of support from a live audience can bring an electric charge to a well-delivered point in a debate or a campaign speech — a fact Trump , whose massive rallies are a signature feature of his political career , knows well @ @ @ @ @ @ @ prevent audiences from applauding their preferred candidates — but they can struggle to contain the crowd .
Fewer claps and hollers can `` allow for a lot more substance and content in the debate , '' Kall said .
Promise to accept the results of the election Trump made waves last week when he refused to commit to a peaceful transfer of power if he lost to Biden in the election .
It 's not the first time Trump has voiced skepticism about the potential election results .
When debating Hillary Clinton in @ @ @ @ @ @ @ accept the election outcome unconditionally .
`` I 'll keep you in suspense , '' Trump said at the time .
The president should reverse himself , Kall said .
`` That would be something he would want to walk back in the debate . ''
`` Obviously the intent is to depress turnout , '' Kall said , but for independent and undecided voters , `` that 's not the kind of message they want to hear . ''
Kall noted that in 2016 , Trump had tried to disarm Clinton before @ @ @ @ @ @ @ — the false conspiracy theory , peddled by Trump , that President Barack Obama was not born in the U.S. Trump was still asked about the theory in those debates , however .
`` That 's what caused Clinton to win the debate overall , '' Kall said .

U.S. President Donald Trump stands in front of a U.S. flag as he participates in a roundtable on donating plasma during a visit to the American Red Cross National Headquarters in Washington, U.S., July 30, 2020. Carlos Barria | Reuters
A draw won't cut it
Just over five weeks remain until Election Day, and according to the polls, Biden is leading the race for the White House. "The president has more pressure on him," said Aaron Kall, director of the University of Michigan's debate program. "Something has to happen that is going to radically change the trajectory of the race and the narrative of it. You can't just fight Joe Biden to a draw," Kall said. Kall warned that Trump can't simply rely on the expectation that Biden will make a grave error. "It sounds like a big part of the strategy is, we're going to have these three debates and Joe Biden's going to be exposed and his age and forgetfulness are going to come out, and all of a sudden he's going to be disqualifying to some portion of the public." This is the wrong move, Kall said. "You can't operate under the assumption that your opponent is going to make errors and you can then just capitalize on them. You have to assume that they'll be OK and that you have to do something to really try to move the needle," he said. Former Republican Sen. Judd Gregg, who helped prepare George W. Bush for his debates in 2000 and 2004 by role-playing as Al Gore and John Kerry, told CNBC that Trump needs to temper his pugnacious style. "He has to come across as showing that he understands that he's there to govern effectively for all Americans," Gregg said of the president. "This election is only about a very small part of the electorate. Almost the entire electorate has their mind made up," Gregg said.
Manage expectations
The Trump campaign appears to agree that Biden's reputation for making gaffes may not guarantee a victory. Until a few weeks ago, the campaign's attacks on Biden focused on raising doubts about his cognition and suggesting he's a "Trojan horse" for a far-left policy agenda. But ahead of the debate, Trump's team has taken a completely different tack. "Joe Biden is a master debater who knows what he's doing," Trump campaign spokesman Tim Murtaugh told CNBC in a statement last week. Biden, said Murtaugh, "has been a Washington politician for 47 years, debated very well twice while running for vice president, and just came through 11 debates in the Democrat primaries where he defeated two dozen challengers." The Trump campaign has declined to comment on the details of the president's debate preparations. Trump said Sunday that his personal attorney, Rudy Giuliani, and former New Jersey Gov. Chris Christie are helping him prepare. "President Trump prepares for debates every day by being president and building an excellent record to run on for reelection," Murtaugh had told CNBC. Gregg said it's natural for campaign operatives to "want to raise expectations for your opponent and lower expectations for yourself." "But I don't think anybody will buy that," Gregg added.
Take advantage of the topics
The debate moderator, Fox News' Chris Wallace, has selected six topics for the debate. They are: The Trump and Biden records
The Supreme Court
Covid-19
The economy
Race and violence in our cities
The integrity of the election The economy is likely Trump's strongest card in the deck, despite recent polling that shows Trump's lead on that issue diminishing amid the pandemic. The Supreme Court is also an area of potential advantage for Trump. The president on Saturday formally nominated Amy Coney Barrett to fill the vacancy on the high court following the recent death of senior liberal Justice Ruth Bader Ginsburg. Barrett, a conservative judge who shares the philosophy of the late Justice Antonin Scalia, could be confirmed by the Senate before the presidential election. "Historically, it's something that favors Republicans," Kall said. "Having a candidate actually now with a name that people know, it's always easier to defend ... when there's an actual nominee, he can extol that person and their background." Doing so could help increase turnout and enthusiasm among Trump's base and could serve as a springboard for him to discuss the large number of judges confirmed during his administration.
Know Biden's weaknesses
While the Trump campaign may not be able to reverse its monthslong effort to undermine Biden, the Democrat's campaign is not without its weaknesses. Trump has lowered expectations for Biden, which played to the Democrat's favor in his well-reviewed speech at the Democratic National Convention. But it remains the case that Biden has been less willing than Trump to go before the press to be cross-examined and answer tough questions. "He hasn't subjected himself to an interview with Chris Wallace like Trump has," Kall said. Gregg said that Biden's "weakest card is that he has a very hard time answering questions concisely." "He's going to have to deal with the president, who is inherently unpredictable, so he's got to be quick on his feet," Gregg said of Biden. Another issue for Biden could be his temper, of which he's shown flashes throughout his campaign. "He does seem like he's got kind of a short fuse sometimes," Kall said. Trump might try to stoke Biden's anger by bringing up Hunter Biden, the former vice president's son, whose connections to a Ukrainian gas company came under scrutiny during the impeachment proceedings against Trump. A GOP-led Senate committee released a report last week calling Hunter Biden's connections "problematic," while Democrats and the Biden campaign have accused Republicans of conducting a smear campaign. "That's one place where he's definitely vulnerable," Kall said of Biden. With more than four decades in politics, Biden also has a much longer record to defend than Trump. Biden may face questions on his prior stances on the Iraq War and the raid that killed Osama Bin Laden, for instance. The president, 74, may also bring up the age of Biden, 77.
Know your (lack of) audience
In normal times, a presidential debate would be held before an audience of hundreds. But with the coronavirus still wreaking havoc in the U.S., just a few dozen people are expected to watch the debate in person. This could pose real problems for Trump, who has never shied from a crowd. Biden, on the other hand, has experience here: His debate in March with Sen. Bernie Sanders, I-Vt., which came during an initial crest of fear about the Covid-19 crisis, was held without a live audience. "I think the most difficult thing for the president is going to be, when you have a crowd, you have a sense in real time of what's working," Kall said. "When you don't have that feedback, you kind of doubt yourself more, so you don't know whether to continue what you're doing or try something else." "He's going to have to trust his own instincts, and that could be correct, but he could be misreading things," Kall said. "Unfortunately, you don't know the answer to that until the debate ends, and by then it's too late." A swell of support from a live audience can bring an electric charge to a well-delivered point in a debate or a campaign speech — a fact Trump, whose massive rallies are a signature feature of his political career, knows well. Moderators in presidential debates try to prevent audiences from applauding their preferred candidates — but they can struggle to contain the crowd. Fewer claps and hollers can "allow for a lot more substance and content in the debate," Kall said.
Promise to accept the results of the election


cnbc--2020-09-29--The economy, Covid-19 and racial inequality are voters' top concerns ahead of the first Trump-Biden

The economy, Covid-19 and racial inequality are voters' top concerns ahead of the first Trump-Biden debate

Voters in swing states want President Donald Trump and former Vice President Joe Biden to use their first debate to offer clear answers on how they plan to improve the economy , while battling Covid-19 and racial inequality .
Some of these voters , who spoke to CNBC ahead of Tuesday 's debate , said the coronavirus has affected their lives and livelihood in a variety of ways , from new health-care guidelines to layoffs .
The debate on Tuesday will be the first of three between the two men .
The faceoff between Trump and Biden comes as new @ @ @ @ @ @ @ once-rapid economic recovery shows signs of slowing down , and protests over racial injustice intensify following a grand jury decision not to charge Louisville , Kentucky , police officers with the death of Breonna Taylor , a Black woman .
Voters expressed hope that either Trump or Biden , who leads the race in national and several swing-state polling averages , will be able to not only mediate tense relations between the Black community and local police forces , but also work to make more systemic change for people of color .
The @ @ @ @ @ @ @ , will run from 9 p.m. to 10:30 p.m .
ET on Tuesday and will be streamed live on CNBC.com .
Mikaella Whynter , an independent voter from West Palm Beach , Florida , said the two issues most important to her heading into the first debate are Covid-19 and tenuous relations between the Black community and local police forces .
`` On the news we 're seeing a lot of Black people being shot down '' and victimized , Whynter , who is Black , said in a telephone interview .
`` @ @ @ @ @ @ @ good job of handling that . ''
She clarified , however , that her support for Biden is n't out of love for the Democrat per se , but more because of her more pronounced dislike for the incumbent .
Biden 's lead in Florida has diminished recently , according to polling averages .
`` Just seeing how everything has been handled by President Donald Trump .
It has n't really been handled in a way that a president who controls the entire country should handle the situation , '' Whynter said .
@ @ @ @ @ @ @ well as Florida 's handling of the Covid-19 pandemic , as evidence the country needs someone else in charge .
Whynter is an 18-year-old who will be voting for the first time .
`` Opening back up the schools recently and just seeing how on the news that kids are coming in with corona and they 're getting infected by this thing : These decisions are n't being made properly because nobody 's taking precautions , '' she said .
`` Nobody wants to wear masks and then they wonder why cases are @ @ @ @ @ @ @ concerns over the government 's handling of the pandemic are reflective of nationwide worries over a disease that has infected 7 million in the U.S. and killed more than 200,000 , according to data compiled by Johns Hopkins University .
In a recent poll of more than 3,000 battleground state voters , CNBC and Change Research found that 44 % have `` very serious '' concerns over Covid-19 while 21 % said they have `` somewhat '' serious concerns .
Fifty-seven percent of battleground voters said they 're worried Trump is pushing to @ @ @ @ @ @ @ order to help his reelection odds .
The president has more than once predicted a vaccine could be ready by the Nov. 3 election , saying earlier this month that , `` We think we can start some time in October . ''
But as grim as the overall U.S. death toll is , racial minorities face even more dire outcomes .
Compared to non-Hispanic White people , Black Americans are 2.6 times more likely to contract the coronavirus and 2.1 times more likely to die of the disease , according to the @ @ @ @ @ @ @ Hispanic or Latino persons are 2.8 times more likely to contract Covid-19 and are 1.1 times more likely to die of the disease .
For Melissa LaBonte of Chandler , Arizona , the pandemic has had a different kind of cost .
`` I 've personally been unemployed since January : It 's the longest break in my employment in years , '' she said , adding that the call center jobs she 's used to have all but `` dried up . ''
But LaBonte , a 46-year-old Republican , said she @ @ @ @ @ @ @ for the continued economic slump , including members of her own party .
`` I think everyone has dropped the ball .
Not just the president , but everyone .
Congress , the Senate , the president , '' she said .
`` They seem to be wrapped up with choosing a new Supreme Court justice now and the economy seems to have fallen to the back burner . ''
Trump , who with other Republicans often polls better than Biden on matters pertaining to the economy , may have to answer questions @ @ @ @ @ @ @ and Jobs Act .
That legislation , which lowered the U.S. corporate tax rate to 21 % from 35 % , was widely seen as benefiting business interests and the wealthy .
It also helped inflate the national debt during an otherwise healthy economic environment in a move many economists and fiscally conservative Republicans viewed as an unnecessarily stimulus .
Now , with the U.S. economy struggling to return to normal production amid a global pandemic , some members of the GOP are concerned about relief legislation that would fuel the deficit .
@ @ @ @ @ @ @ are clear throughout her Phoenix suburb : The local Nordstrom closed , OfficeMax is going out of business and several small businesses are struggling .
The Arizona resident said she was a big fan of the federal unemployment benefits introduced in March as part of the CARES Act .
That benefit , which offered those on state unemployment insurance an additional $ 600 per week , expired at the end of July in the absence of another stimulus bill .
`` The enhanced unemployment helped immeasurably , '' she said .
`` I @ @ @ @ @ @ @ year ; my son just joined the Navy .
So thankfully we have that income to help . ''
`` And yet , in Arizona , unemployment has dropped to $ 200 , any stimulus is almost over .
I 'm on my extension , and after this I do n't know what I 'm going to do , '' LaBonte added .
`` And it seems like no one is discussing it . ''
Still , the lifelong Republican said she views the president favorably .
Despite her current situation , she @ @ @ @ @ @ @ the only politicians that `` has the people 's back . ''
`` The president might not be perfect — for sure , '' she said .
`` However , I feel like what 's going on in Washington , maybe he 's the appropriate person to help combat some of it . ''
Asked whether she thought there was anything that could help Biden in his first debate , LaBonte said she hoped to find the 77-year-old Biden capable of holding his own against the president , who is 74 .
`` @ @ @ @ @ @ @ see him debate , I think that would be a No .
1 huge step .
Because we really have n't seen him say very much , '' she said .
Biden holds a lead over Trump in Arizona , according to polling averages .
The Biden campaign has to date touted a more progressive tax plan , or one that demands high-income individuals contribute even more as a percentage of their earnings with each additional dollar they make .
The campaign proposes raising the corporate tax rate to 28 % , increasing @ @ @ @ @ @ @ 39.6 % ( from 37 % ) and taxing those making more than $ 1 million to pay the same rate on investment income that they do on their wages .
Calculations compiled by The Washington Post show Biden 's plan is expected to raise between $ 3.5 trillion and $ 4 trillion over 10 years , with about half of the money coming from the top 0.1 % of highest-income households .
Joseph McCabe , a 64-year-old Vietnam veteran , said he 's supportive of Biden 's plans to raise taxes on @ @ @ @ @ @ @ 'd like to hear them talk about the issues that are facing the middle class of this country , '' McCabe , a resident of Chester County , Pennsylvania , said on Friday .
`` He 's going to tax everyone over $ 400,000 a year : I think it should be everybody over $ 200,000 a year .
I 'd like to hear him talk about that . ''
Biden leads Trump in polls of Pennsylvania , a once-blue state that voted for Trump in 2016 .
McCabe , officially a Democrat @ @ @ @ @ @ @ added that health care is also at the top of his priority list during the 2020 elections .
His health care is covered through the Department of Veterans Affairs .
`` I get my health care for free because I 'm 100 % a disabled vet , '' he said .
`` But my family : My sister , my brother , his family , all my friends .
They 're all struggling to pay the high price of health care nowadays .
It 's insane . ''
McCabe said that while he @ @ @ @ @ @ @ initially backed Sen. Bernie Sanders , I-Vt. , in part because of his support for a `` Medicare for All '' plan in the United States .
`` You know , I 'm not a real huge fan of Biden , but he 's far , far better than Trump , '' McCabe said .
`` I hope we go for a more progressive look for the country .
Because anything 's got to be progressive — we 've got to make progress . ''

Supporters of former President Donald Trump and then-candidate President Joe Biden talk before a March 7, 2020 rally at the National World War I Museum and Memorial in Kansas City, Missouri. Kyle Rivas | Getty Images
Voters in swing states want President Donald Trump and former Vice President Joe Biden to use their first debate to offer clear answers on how they plan to improve the economy, while battling Covid-19 and racial inequality. Some of these voters, who spoke to CNBC ahead of Tuesday's debate, said the coronavirus has affected their lives and livelihood in a variety of ways, from new health-care guidelines to layoffs. The debate on Tuesday will be the first of three between the two men. The faceoff between Trump and Biden comes as new cases of coronavirus tick higher, the once-rapid economic recovery shows signs of slowing down, and protests over racial injustice intensify following a grand jury decision not to charge Louisville, Kentucky, police officers with the death of Breonna Taylor, a Black woman. Voters expressed hope that either Trump or Biden, who leads the race in national and several swing-state polling averages, will be able to not only mediate tense relations between the Black community and local police forces, but also work to make more systemic change for people of color. The debate, set to occur in Cleveland, will run from 9 p.m. to 10:30 p.m. ET on Tuesday and will be streamed live on CNBC.com. Mikaella Whynter, an independent voter from West Palm Beach, Florida, said the two issues most important to her heading into the first debate are Covid-19 and tenuous relations between the Black community and local police forces. "On the news we're seeing a lot of Black people being shot down" and victimized, Whynter, who is Black, said in a telephone interview. "And President Trump is not doing a good job of handling that." She clarified, however, that her support for Biden isn't out of love for the Democrat per se, but more because of her more pronounced dislike for the incumbent. Biden's lead in Florida has diminished recently, according to polling averages. "Just seeing how everything has been handled by President Donald Trump. It hasn't really been handled in a way that a president who controls the entire country should handle the situation," Whynter said.
Demonstrators march near the White House. Drew Angerer | Getty Images
She cited mounting racial tensions, as well as Florida's handling of the Covid-19 pandemic, as evidence the country needs someone else in charge. Whynter is an 18-year-old who will be voting for the first time. "Opening back up the schools recently and just seeing how on the news that kids are coming in with corona and they're getting infected by this thing: These decisions aren't being made properly because nobody's taking precautions," she said. "Nobody wants to wear masks and then they wonder why cases are rising so much."
The coronavirus economy
Whynter's concerns over the government's handling of the pandemic are reflective of nationwide worries over a disease that has infected 7 million in the U.S. and killed more than 200,000, according to data compiled by Johns Hopkins University. In a recent poll of more than 3,000 battleground state voters, CNBC and Change Research found that 44% have "very serious" concerns over Covid-19 while 21% said they have "somewhat" serious concerns. Fifty-seven percent of battleground voters said they're worried Trump is pushing to release a coronavirus vaccine too quickly in order to help his reelection odds. The president has more than once predicted a vaccine could be ready by the Nov. 3 election, saying earlier this month that, "We think we can start some time in October."
watch now
But as grim as the overall U.S. death toll is, racial minorities face even more dire outcomes. Compared to non-Hispanic White people, Black Americans are 2.6 times more likely to contract the coronavirus and 2.1 times more likely to die of the disease, according to the Centers for Disease Control and Prevention. Hispanic or Latino persons are 2.8 times more likely to contract Covid-19 and are 1.1 times more likely to die of the disease. For Melissa LaBonte of Chandler, Arizona, the pandemic has had a different kind of cost. "I've personally been unemployed since January: It's the longest break in my employment in years," she said, adding that the call center jobs she's used to have all but "dried up." But LaBonte, a 46-year-old Republican, said she holds a long list of politicians responsible for the continued economic slump, including members of her own party. "I think everyone has dropped the ball. Not just the president, but everyone. Congress, the Senate, the president," she said. "They seem to be wrapped up with choosing a new Supreme Court justice now and the economy seems to have fallen to the back burner."
A Aug. 6 caravan rally down the Las Vegas Strip in support of extending the $600 unemployment benefit. BRIDGET BENNETT | AFP | Getty Images
Trump, who with other Republicans often polls better than Biden on matters pertaining to the economy, may have to answer questions related to his landmark 2017 Tax Cuts and Jobs Act. That legislation, which lowered the U.S. corporate tax rate to 21% from 35%, was widely seen as benefiting business interests and the wealthy. It also helped inflate the national debt during an otherwise healthy economic environment in a move many economists and fiscally conservative Republicans viewed as an unnecessarily stimulus. Now, with the U.S. economy struggling to return to normal production amid a global pandemic, some members of the GOP are concerned about relief legislation that would fuel the deficit. LaBonte said the effects of the recession are clear throughout her Phoenix suburb: The local Nordstrom closed, OfficeMax is going out of business and several small businesses are struggling. The Arizona resident said she was a big fan of the federal unemployment benefits introduced in March as part of the CARES Act. That benefit, which offered those on state unemployment insurance an additional $600 per week, expired at the end of July in the absence of another stimulus bill. "The enhanced unemployment helped immeasurably," she said. "I was a single mother up until this year; my son just joined the Navy. So thankfully we have that income to help." "And yet, in Arizona, unemployment has dropped to $200, any stimulus is almost over. I'm on my extension, and after this I don't know what I'm going to do," LaBonte added. "And it seems like no one is discussing it." Still, the lifelong Republican said she views the president favorably. Despite her current situation, she said she believes Trump is one of the only politicians that "has the people's back." "The president might not be perfect — for sure," she said. "However, I feel like what's going on in Washington, maybe he's the appropriate person to help combat some of it."
watch now
Asked whether she thought there was anything that could help Biden in his first debate, LaBonte said she hoped to find the 77-year-old Biden capable of holding his own against the president, who is 74. "I mean, I would like to see him debate, I think that would be a No. 1 huge step. Because we really haven't seen him say very much," she said. Biden holds a lead over Trump in Arizona, according to polling averages.
Taxes and health care
The Biden campaign has to date touted a more progressive tax plan, or one that demands high-income individuals contribute even more as a percentage of their earnings with each additional dollar they make. The campaign proposes raising the corporate tax rate to 28%, increasing the top individual income rate back to 39.6% (from 37%) and taxing those making more than $1 million to pay the same rate on investment income that they do on their wages. Calculations compiled by The Washington Post show Biden's plan is expected to raise between $3.5 trillion and $4 trillion over 10 years, with about half of the money coming from the top 0.1% of highest-income households.
Democratic presidential candidate Joe Biden speaks during a briefing on the coronavirus disease (COVID-19) pandemic with public health officials during a campaign stop in Wilmington, Delaware, August 13, 2020. Carlos Barria | Reuters


cnbc--2020-09-29--Citigroup executive Ray McGuire seeks Wall Street leaders' support for likely NYC mayoral run

Citigroup 's Ray McGuire has recently huddled with several of his allies on Wall Street in a bid to gain their support for what appears to be a likely run for mayor of New York , according to people familiar with the matter .
McGuire , according to these people , has had lunches and dinners with executives who have ties to the banking , hedge fund and private equity industries .
Many of them have known the Citi vice chairman for years .
The conversations have , at least in part , focused on McGuire looking toward potentially running @ @ @ @ @ @ @ contribute to what would surely be an expensive campaign , these people added .
They declined to be named as the conversations were deemed private .
McGuire , who is also chairman of Citi 's banking , capital markets and advisory business , has not publicly confirmed whether he is planning to get into the race .
A Citi spokeswoman said he would not comment for this story .
Some of the people with knowledge of the meetings said that McGuire has indicated to his associates on Wall Street that he is going @ @ @ @ @ @ @ , in turn , said he will receive their financial support .
However , there are others in New York 's finance world who are n't as convinced that he should get into the race and have signaled to him that he does n't have the name recognition or the experience to pull off a victory in 2021 .
McGuire has met with New York Democratic strategists about possibly getting into a race for an office that has been held by Bill de Blasio .
He reportedly is being advised by Joel Klein @ @ @ @ @ @ @ former mayor Mike Bloomberg , and Klein 's wife , Nicole Seligman .
McGuire , a moderate Democrat , has been vocal on key issues when it comes to policing and the Black community .
After the death of George Floyd at the hands of Minneapolis police officers , McGuire told CNBC that the killing was `` cold-blooded murder '' and called on corporate leaders to take the necessary steps to combat racism .
He recently authored a preface to a Citi report titled `` Closing the Racial Inequality Gaps . ''
In @ @ @ @ @ @ @ on how he 's seen as a Black man .
`` Yet even today , with all those credentials and as one of the leading executives on Wall Street , I am still seen first as a six-foot-four , two-hundred-pound Black man wherever I go — even in my own neighborhood .
I could have been George Floyd , '' he writes .

Citigroup's Ray McGuire has recently huddled with several of his allies on Wall Street in a bid to gain their support for what appears to be a likely run for mayor of New York, according to people familiar with the matter.
McGuire, according to these people, has had lunches and dinners with executives who have ties to the banking, hedge fund and private equity industries. Many of them have known the Citi vice chairman for years.
The conversations have, at least in part, focused on McGuire looking toward potentially running for mayor and whether these executives will contribute to what would surely be an expensive campaign, these people added. They declined to be named as the conversations were deemed private.
McGuire, who is also chairman of Citi's banking, capital markets and advisory business, has not publicly confirmed whether he is planning to get into the race. A Citi spokeswoman said he would not comment for this story.
Some of the people with knowledge of the meetings said that McGuire has indicated to his associates on Wall Street that he is going to run for mayor. They have, in turn, said he will receive their financial support. However, there are others in New York's finance world who aren't as convinced that he should get into the race and have signaled to him that he doesn't have the name recognition or the experience to pull off a victory in 2021.
McGuire has met with New York Democratic strategists about possibly getting into a race for an office that has been held by Bill de Blasio. He reportedly is being advised by Joel Klein, New York City schools chancellor under former mayor Mike Bloomberg, and Klein's wife, Nicole Seligman.
McGuire, a moderate Democrat, has been vocal on key issues when it comes to policing and the Black community.
After the death of George Floyd at the hands of Minneapolis police officers, McGuire told CNBC that the killing was "cold-blooded murder" and called on corporate leaders to take the necessary steps to combat racism.
He recently authored a preface to a Citi report titled "Closing the Racial Inequality Gaps." In the introduction, the banking executive reflects on how he's seen as a Black man.
"Yet even today, with all those credentials and as one of the leading executives on Wall Street, I am still seen first as a six-foot-four, two-hundred-pound Black man wherever I go — even in my own neighborhood. I could have been George Floyd," he writes.


cnbc--2020-09-29--Lawyer for Michael Flynn personally asked Trump not to pardon ex-national security advisor in FBI li

Lawyer for Michael Flynn personally asked Trump not to pardon ex-national security advisor in FBI lie case

Gen. Michael Flynn , former national security adviser to US President Donald Trump , leaves Federal Court December 1 , 2017 in Washington , DC .
The defense lawyer for former national security advisor Michael Flynn revealed in court Tuesday that she recently met in person with President Donald Trump to update him on the case , and that she had asked the president not to pardon Flynn .
Sidney Powell , Flynn 's attorney , told Judge Emmet Sullivan about that conversation with Trump during a hearing in Washington , D.C. , federal court on the Justice Department 's @ @ @ @ @ @ @ .
Powell said she spoke with Trump and a White House lawyer , Jenna Ellis , one time in recent weeks .
`` I provided the White House with an update on the overall status of the litigation , '' Powell said .
`` I never discussed this case with the president until recently when I asked him not to issue a pardon and gave him a general update of the status of the litigation , '' said Powell , who did not say why she asked Trump not to give Flynn a @ @ @ @ @ @ @ Did you make any requests of the president ? ''
Powell replied , `` No , sir , other than he not issue a pardon . ''
Trump has long been harshly critical of the case and has said publicly that he would strongly consider pardoning Flynn , who pleaded guilty in late 2017 to lying to FBI agents about his talks with a Russian diplomat in the weeks leading up to Trump 's inauguration in January 2017 .
Sullivan also asked if Powell had ever asked Trump to request that Attorney General @ @ @ @ @ @ @ case .
At the end of the hearing , which spanned five hours , Sullivan did not make a ruling on the Justice Department 's motion to dismiss .
But the judge said he was mindful of an appellate court ruling that encouraged him to rule quickly in the case , one of the first to spring out of a broad investigation of Russian interference in the 2016 presidential election .
Flynn so far has not been sentenced because of an unprecedented series of events that have included Barr seeking to toss out @ @ @ @ @ @ @ least until now — by Sullivan .
The White House declined to comment on Powell 's statement .
The Justice Department , which first charged Flynn and then obtained his cooperation with other investigations , long had defended the legitimacy of its prosecution .
But the department abruptly last spring sought to dismiss the case and void Flynn 's guilty plea , saying that it determined that there was not a legitimate reason for the FBI to have questioned Flynn .
The Justice Department also argues that it does not have sufficient evidence @ @ @ @ @ @ @ disclosure of meeting with Trump came in response to a question from Sullivan , who had asked if she had spoken to the president about the case .
She at first balked at answering him , arguing that she would be barred from doing so by executive privilege .
But Powell then provided details of what she had told Trump after Sullivan pointed out that she was not an employee of the executive branch of the U.S. government .
Powell later during the hearing asked Sullivan to recuse himself from the case , @ @ @ @ @ @ @ Flynn , which included the judge appealing a higher court 's order that Flynn 's case be promptly dismissed .
Sullivan , seeming annoyed , waved aside her request , telling her to put it in writing in a court filing .
Powell said that the original prosecution of Flynn was part of `` a coup '' whose ultimate purpose was to target Trump .
`` This is the most egregious case of injustice I 've ever seen in 30 years of practice , '' she said .
Earlier in the hearing , @ @ @ @ @ @ @ case 's circuitous history .
Several times during that monologue , Sullivan noted that his job as a judge is not to serve merely as a `` rubber stamp '' for a request by prosecutors to dismiss the case .
A Justice Department lawyer later told the judge that Barr 's `` decision [ to seek the case 's dismissal was ] not based on communications with the president or the White House '' or on Trump 's Twitter posts criticizing the prosecution of Flynn .
Justice Department lawyers also said that the @ @ @ @ @ @ @ on whether to prosecute a case and that a judge does not have that authority .
John Gleeson , a lawyer appointed by Sullivan to argue against the dismissal request , was contemptuous of the Justice Department 's claim that there were valid reasons to toss the case .
Gleeson , who is both a former federal judge and ex-federal prosecutor , said that the department 's explanations flew in the face of established legal standards and that they were a pretext for the actual reason for dismissing the case , that is @ @ @ @ @ @ @ He also said that at least one argument raised by the department , that Flynn 's lies to the FBI were not `` material '' to the question of his guilt , was being raised by the department for the first time for any defendant charged by federal prosecutors .
`` You 're not required to act like you were born yesterday , '' Gleeson told Sullivan .
Flynn , who is a retired Army lieutenant general , only briefly served as Trump 's first national security advisor .
He was fired after @ @ @ @ @ @ @ the nature of his conversations with Russian ambassador Sergey Kislyak .
He pleaded guilty in December 2017 to lying to FBI agents who had questioned him about his talks with Kislyak .
Flynn admitted falsely telling agents that he and Kislyak had not discussed the need for Russia not to retaliate against the United States for sanctions put on Russia by the outgoing Obama administration as punishment for interfering in the 2016 presidential election .
Flynn 's originally scheduled sentencing in December 2018 was aborted after Sullivan angrily admonished him , telling Flynn @ @ @ @ @ @ @ his country , and after the judge indicated he was considering sending Flynn to jail for his crime .
The judge then suspended the sentencing , saying he wanted to give Flynn more time to complete his cooperation with then-special counsel Robert Mueller 's investigation into Russian interference in the 2016 election and possible collusion with that interference by members of Trump 's campaign .
Flynn cooperated for several more months but then hired a new lawyer , Powell , who began laying the groundwork to undo his guilty plea .
The Justice @ @ @ @ @ @ @ efforts for months , joined forces with her effort earlier this year and asked Sullivan to dismiss the case , a move that drew widespread criticism by Democrats and former prosecutors .
But Sullivan did not act quickly on the dismissal request .
Instead , the judge appointed Gleeson as a so-called friend of the court to make legal arguments opposing that request .
Gleeson in court filings earlier this year advised Sullivan that the case should not be dismissed , arguing that the Justice Department had engaged in `` a gross abuse @ @ @ @ @ @ @ Government has engaged in highly irregular conduct to benefit a political ally of the President , '' Gleeson wrote .
Flynn and the Justice Department then filed an appeal , asking a three-judge appeals panel to compel dismissal of the case , arguing that Sullivan had overstepped his authority .
That panel agreed and ordered the dismissal .
But Sullivan then appealed that dismissal .
Earlier this month , a panel of most of the judges on the Court of Appeals for the District of Columbia Circuit overturned the smaller panel 's order @ @ @ @ @ @ @ for consideration , which led to Tuesday 's hearing .

Gen. Michael Flynn, former national security adviser to US President Donald Trump, leaves Federal Court December 1, 2017 in Washington, DC.
The defense lawyer for former national security advisor Michael Flynn revealed in court Tuesday that she recently met in person with President Donald Trump to update him on the case, and that she had asked the president not to pardon Flynn.
Sidney Powell, Flynn's attorney, told Judge Emmet Sullivan about that conversation with Trump during a hearing in Washington, D.C., federal court on the Justice Department's highly unusual request to dismiss the case.
Powell said she spoke with Trump and a White House lawyer, Jenna Ellis, one time in recent weeks.
"I provided the White House with an update on the overall status of the litigation," Powell said.
"I never discussed this case with the president until recently when I asked him not to issue a pardon and gave him a general update of the status of the litigation," said Powell, who did not say why she asked Trump not to give Flynn a pardon.
When Sullivan asked, "Did you make any requests of the president?" Powell replied, "No, sir, other than he not issue a pardon."
Trump has long been harshly critical of the case and has said publicly that he would strongly consider pardoning Flynn, who pleaded guilty in late 2017 to lying to FBI agents about his talks with a Russian diplomat in the weeks leading up to Trump's inauguration in January 2017.
Sullivan also asked if Powell had ever asked Trump to request that Attorney General William Barr appoint new prosecutors in the case.
Powell answered, "Oh, heavens, no."
At the end of the hearing, which spanned five hours, Sullivan did not make a ruling on the Justice Department's motion to dismiss.
But the judge said he was mindful of an appellate court ruling that encouraged him to rule quickly in the case, one of the first to spring out of a broad investigation of Russian interference in the 2016 presidential election.
Flynn so far has not been sentenced because of an unprecedented series of events that have included Barr seeking to toss out the case and being resisted — at least until now — by Sullivan.
The White House declined to comment on Powell's statement.
The Justice Department, which first charged Flynn and then obtained his cooperation with other investigations, long had defended the legitimacy of its prosecution.
But the department abruptly last spring sought to dismiss the case and void Flynn's guilty plea, saying that it determined that there was not a legitimate reason for the FBI to have questioned Flynn. The Justice Department also argues that it does not have sufficient evidence to convict him now.
Powell's disclosure of meeting with Trump came in response to a question from Sullivan, who had asked if she had spoken to the president about the case.
She at first balked at answering him, arguing that she would be barred from doing so by executive privilege.
But Powell then provided details of what she had told Trump after Sullivan pointed out that she was not an employee of the executive branch of the U.S. government.
Powell later during the hearing asked Sullivan to recuse himself from the case, on the grounds of purported bias against Flynn, which included the judge appealing a higher court's order that Flynn's case be promptly dismissed.
Sullivan, seeming annoyed, waved aside her request, telling her to put it in writing in a court filing.
Powell said that the original prosecution of Flynn was part of "a coup" whose ultimate purpose was to target Trump.
"This is the most egregious case of injustice I've ever seen in 30 years of practice," she said.
Earlier in the hearing, Sullivan spent nearly an hour detailing the case's circuitous history.
Several times during that monologue, Sullivan noted that his job as a judge is not to serve merely as a "rubber stamp" for a request by prosecutors to dismiss the case.
A Justice Department lawyer later told the judge that Barr's "decision [to seek the case's dismissal was] not based on communications with the president or the White House" or on Trump's Twitter posts criticizing the prosecution of Flynn.
Justice Department lawyers also said that the department has the "absolute authority" on whether to prosecute a case and that a judge does not have that authority.
John Gleeson, a lawyer appointed by Sullivan to argue against the dismissal request, was contemptuous of the Justice Department's claim that there were valid reasons to toss the case.
Gleeson, who is both a former federal judge and ex-federal prosecutor, said that the department's explanations flew in the face of established legal standards and that they were a pretext for the actual reason for dismissing the case, that is, doing a favor for Trump.
He also said that at least one argument raised by the department, that Flynn's lies to the FBI were not "material" to the question of his guilt, was being raised by the department for the first time for any defendant charged by federal prosecutors.
"You're not required to act like you were born yesterday," Gleeson told Sullivan.
Flynn, who is a retired Army lieutenant general, only briefly served as Trump's first national security advisor.
He was fired after lying to Vice President Mike Pence about the nature of his conversations with Russian ambassador Sergey Kislyak.
He pleaded guilty in December 2017 to lying to FBI agents who had questioned him about his talks with Kislyak.
Flynn admitted falsely telling agents that he and Kislyak had not discussed the need for Russia not to retaliate against the United States for sanctions put on Russia by the outgoing Obama administration as punishment for interfering in the 2016 presidential election.
Flynn's originally scheduled sentencing in December 2018 was aborted after Sullivan angrily admonished him, telling Flynn he had "arguably" sold out his country, and after the judge indicated he was considering sending Flynn to jail for his crime.
The judge then suspended the sentencing, saying he wanted to give Flynn more time to complete his cooperation with then-special counsel Robert Mueller's investigation into Russian interference in the 2016 election and possible collusion with that interference by members of Trump's campaign.
Flynn cooperated for several more months but then hired a new lawyer, Powell, who began laying the groundwork to undo his guilty plea.
The Justice Department, which had opposed Powell's efforts for months, joined forces with her effort earlier this year and asked Sullivan to dismiss the case, a move that drew widespread criticism by Democrats and former prosecutors.
But Sullivan did not act quickly on the dismissal request.
Instead, the judge appointed Gleeson as a so-called friend of the court to make legal arguments opposing that request.
Gleeson in court filings earlier this year advised Sullivan that the case should not be dismissed, arguing that the Justice Department had engaged in "a gross abuse of prosecutorial power."
"The Government has engaged in highly irregular conduct to benefit a political ally of the President," Gleeson wrote.
Flynn and the Justice Department then filed an appeal, asking a three-judge appeals panel to compel dismissal of the case, arguing that Sullivan had overstepped his authority.
That panel agreed and ordered the dismissal.
But Sullivan then appealed that dismissal.
Earlier this month, a panel of most of the judges on the Court of Appeals for the District of Columbia Circuit overturned the smaller panel's order and sent the case back to Sullivan for consideration, which led to Tuesday's hearing.


cnbc--2020-09-29--Joe Biden releases 2019 tax returns ahead of presidential debate

Democratic presidential candidate Joe Biden and his wife , Jill , wave to the crowd during his 2020 campaign kickoff rally at the Eakins Oval in Philadelphia , Pa. , on Saturday , May 18 , 2019 .
WASHINGTON — Democratic presidential nominee Joe Biden and running mate Kamala Harris released their 2019 tax returns on Tuesday , just hours before Biden 's first debate with President Donald Trump .
The returns show that Biden and his wife , Jill , reported $ 944,737 in taxable income last year and paid $ 299,346 , or a 31 % tax rate @ @ @ @ @ @ @ Bidens also reported making $ 14,700 in charitable contributions .
The Bidens ' income last year represents a significant decrease from the previous two years .
In 2017 , the couple reported making more than $ 11 million , and in 2018 they made $ 4.5 million .
In both years , the income was largely through book deals .
Harris and her husband , attorney Doug Emhoff , reported $ 3,018,127 in taxable income , the majority of it via Emhoff 's partnership at the global law firm DLA Piper .
They @ @ @ @ @ @ @ , or an effective tax rate of 39 % .
Harris and Emhoff also reported making charitable donations of $ 35,390 last year .
The release was a strategic move , coming less than 48 hours after The New York Times published a bombshell investigation based on more than a decade 's worth of Trump 's tax returns , showing that he paid just $ 750 in individual federal income taxes in 2016 and 2017 .

Harris and her husband, attorney Doug Emhoff, reported $3,018,127 in taxable income , the majority of it via Emhoff's partnership at the global law firm DLA Piper. They paid federal income taxes of $1,185,628, or an effective tax rate of 39%. Harris and Emhoff also reported making charitable donations of $35,390 last year.
The Bidens' income last year represents a significant decrease from the previous two years. In 2017, the couple reported making more than $11 million, and in 2018 they made $4.5 million. In both years, the income was largely through book deals.
The returns show that Biden and his wife, Jill, reported $944,737 in taxable income last year and paid $299,346, or a 31% tax rate, in federal income taxes. The Bidens also reported making $14,700 in charitable contributions.
WASHINGTON — Democratic presidential nominee Joe Biden and running mate Kamala Harris released their 2019 tax returns on Tuesday, just hours before Biden's first debate with President Donald Trump.
The release was a strategic move, coming less than 48 hours after The New York Times published a bombshell investigation based on more than a decade's worth of Trump's tax returns, showing that he paid just $750 in individual federal income taxes in 2016 and 2017.
The Times also found that for 10 of the previous 15 years before he was elected to the White House, Trump paid no federal income taxes because his businesses lost hundreds of millions of dollars, which he was able to use to reduce his tax burden. Trump called the Times' expose "fake news" but did not directly dispute any of the figures contained in it.
"This is a historic level of transparency meant to give the American people faith, once again, that their leaders will look out for them and not their own bottom line," Kate Bedingfield, Biden's deputy campaign manager, told reporters Tuesday afternoon.
Over the past three years, Trump's tax returns have taken on an almost mythic quality, ever since he broke with decades of presidential campaign protocol and refused to release his returns during his 2016 campaign.
As the wealthiest American president in modern history, Trump has never been shy about the fact that he employs accountants to help him lower his tax bill, or that he aggressively seeks ways to minimize the tax burden on his sprawling real estate and licensing family business.
In 2016, Trump claimed during his first debate with Democrat Hillary Clinton that not paying income taxes "makes me smart."
But many Americans were shocked to learn this week just how little Trump has paid.
In 2016 and 2017, Biden paid far more in taxes than Trump did, despite making nowhere near as much money.
In 2016, the Bidens paid $87,000 in federal income taxes on income of $338,000. That year, Trump paid $750.
The following year, the Bidens paid $3.7 million in federal income taxes on earnings of just over $11 million. The same year, Trump paid $750.
The Bidens' 2019 state and federal tax returns are posted here.
Harris and Emhoff's 2019 state and federal tax returns are posted here.


cnbc--2020-09-29--Manhattan district attorney won't try to enforce Trump tax return subpoena during appeals

U.S. President Donald Trump arrives to speak about the administration 's coronavirus disease ( COVID-19 ) testing plan in the Rose Garden at the White House in Washington , September 28 , 2020 .
The Manhattan District Attorney 's Office said Tuesday it will not seek to enforce a subpoena for President Donald Trump 's income tax returns until the president 's appeal of the subpoena is resolved .
The grand jury subpoena would compel accounting firm Mazars USA to turn over eight years of returns and other financial documents related to Trump and the Trump Organization .
Manhattan DA @ @ @ @ @ @ @ a letter Tuesday to the clerk of the U.S. Court of Appeals for the 2nd Circuit , said the office understood that the appeals court 's order from early September staying proceedings in the case to be an effective block on the subpoena for now , despite not explicitly saying so .
`` Consistent with this understanding , our office will not seek to enforce the Mazars Subpoena pending determination by this Court of the current appeal , '' Vance deputy Carey Dunne said in the letter .
The letter comes five weeks @ @ @ @ @ @ @ faces a challenge from former Vice President Joe Biden , and two days after The New York Times published a bombshell report revealing that Trump has paid just $ 750 in federal income taxes in 2016 and 2017 and no federal income taxes in other years spanning back a decade or more .
The expose also said that over the next four years , Trump faces debt repayments that he has personally guaranteed totaling more than $ 400 million .
Biden and his running mate , Sen. Kamala Harris , D-Calif. , released @ @ @ @ @ @ @ .
Trump earlier this year lost a Supreme Court appeal that sought to block the Mazars subpoena , which Vance 's office had obtained a part of an ongoing criminal investigation of the Trump Organization .
The high court ruled that Trump did not have the right to prevent a state prosecutor from enforcing such a subpoena just because he was president .
But the Supreme Court said Trump could make further arguments against the subpoena in a federal district court .
Trump 's lawyers then did so .
But a Manhattan federal @ @ @ @ @ @ @ that rejection .
A three-judge panel in the Court of Appeals for the 2nd Circuit last week heard arguments on his appeal .
A judge on the panel noted during the hearing that there appeared to be no bar on Vance obtaining the documents while the appeal was pending .
The court then ordered parties in the case `` to submit their views on the status of any stay preventing enforcement of the subpoena at issue in this case ... and whether any such stay is the result of a forbearance or an @ @ @ @ @ @ @ 's letter said .
`` As described below , there is no voluntary or negotiated forbearance currently in effect to prevent enforcement , '' Dunne wrote .
`` However , for the reasons set forth below , we understand the Court 's order of September 1 , 2020 , to stay enforcement of the Mazars Subpoena pending determination of the appeal . ''

U.S. President Donald Trump arrives to speak about the administration's coronavirus disease (COVID-19) testing plan in the Rose Garden at the White House in Washington, September 28, 2020.
The Manhattan District Attorney's Office said Tuesday it will not seek to enforce a subpoena for President Donald Trump's income tax returns until the president's appeal of the subpoena is resolved.
The grand jury subpoena would compel accounting firm Mazars USA to turn over eight years of returns and other financial documents related to Trump and the Trump Organization.
Manhattan DA Cyrus Vance Jr.'s office, in a letter Tuesday to the clerk of the U.S. Court of Appeals for the 2nd Circuit, said the office understood that the appeals court's order from early September staying proceedings in the case to be an effective block on the subpoena for now, despite not explicitly saying so.
"Consistent with this understanding, our office will not seek to enforce the Mazars Subpoena pending determination by this Court of the current appeal," Vance deputy Carey Dunne said in the letter.
The letter comes five weeks before the presidential election, where Trump faces a challenge from former Vice President Joe Biden, and two days after The New York Times published a bombshell report revealing that Trump has paid just $750 in federal income taxes in 2016 and 2017 and no federal income taxes in other years spanning back a decade or more.
The expose also said that over the next four years, Trump faces debt repayments that he has personally guaranteed totaling more than $400 million.
Biden and his running mate, Sen. Kamala Harris, D-Calif., released their income tax returns on Tuesday afternoon.
Trump earlier this year lost a Supreme Court appeal that sought to block the Mazars subpoena, which Vance's office had obtained a part of an ongoing criminal investigation of the Trump Organization. The high court ruled that Trump did not have the right to prevent a state prosecutor from enforcing such a subpoena just because he was president.
But the Supreme Court said Trump could make further arguments against the subpoena in a federal district court.
Trump's lawyers then did so. But a Manhattan federal judge rejected those arguments.
Trump appealed that rejection. A three-judge panel in the Court of Appeals for the 2nd Circuit last week heard arguments on his appeal.
A judge on the panel noted during the hearing that there appeared to be no bar on Vance obtaining the documents while the appeal was pending.
The court then ordered parties in the case "to submit their views on the status of any stay preventing enforcement of the subpoena at issue in this case ... and whether any such stay is the result of a forbearance or an order of the Court," Dunne's letter said.
"As described below, there is no voluntary or negotiated forbearance currently in effect to prevent enforcement," Dunne wrote.
"However, for the reasons set forth below, we understand the Court's order of September 1, 2020, to stay enforcement of the Mazars Subpoena pending determination of the appeal."