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What Trump’s second term agenda looks like

Yahoo Finance’s On The Move panel break down what’s moving the world of finance.

Video Transcript

[MUSIC PLAYING]

JULIE HYMAN: It's time for "Word on the Street" where we check in with our panel to find out what stories they are watching. We have gotten word of the second term agenda for President Trump-- the Trump campaign has released it. So MAGA was the first slogan and agenda. What do we have now?

RICK NEWMAN: Trump is "Fighting for --You!", exclamation point, Julie. So President Trump has not said much up till now about what he actually plans to do in his second term, and that's generated some criticism. And the Republican Party won't even have a platform at the convention this year. But just this morning, everybody will be relieved to hear that Trump published 50 things he plans to do in his second term. It's on his campaign website, which is Donaldjtrump.com. And you can just click on the news button there to find it. I'll just give you a few of the highlights.

Under jobs, create 10 million new jobs in 10 months. Create one million new small businesses. Cut taxes to boost take-home pay-- I think that's the payroll tax that funds Social Security and Medicare.

He wants to develop a COVID vaccine by the end of 2020. He's gonna lower health insurance premiums. And four bullet points under drain the swamp.

Now just so people know, if you try to click on any of these items to see what the actual plan is, you don't get anything. There are no hyperlinks. There's no actual plan behind the bullet point. I will point out that if you go to Joe Biden's website and you look on his plans, everything you click on there, you get to a plan that is typically pages long with how they're going to pay for the plan, how much it's gonna cost, all the specific subpoints of the plan, and so forth. So Trump's is an abbreviated version of something like that.

JULIE HYMAN: Rick, we talked to Greg Valliere earlier in the show. And he said that Trump really needs to broaden his appeal to college-- college-educated women, that that's one of his areas of a shortfall. And then to do that, he might, perhaps, need to tone down the rhetoric.

RICK NEWMAN: [LAUGHS]

JULIE HYMAN: Any chance of that happening this week?

RICK NEWMAN: Sure, I'm sure Trump will turn down the-- tone down the rhetoric now that it's 10 weeks before Election Day. I'm obviously being sarcastic. Trump, everything he has done as president, including while he's campaigning for re-election, has been to energize the base. And the problem for Trump is that his base is not big enough to get him re-elected. So he needs to expand somewhere.

College-educated women is one. Suburban voters, especially suburban women, is another. He's getting crushed in that demographic. He's also losing older voters, according to polls anyway. And that makes sense, given that they're most vulnerable to coronavirus amidst this terrible pandemic that just keeps going on and on. So to win, Trump does need to-- he does, for sure, need to expand the people who might vote for him-- or cheat, which of course, we all hope he doesn't. But I think he's-- I think it's gonna be very hard for Trump to expand the people who support him.

DAN HOWLEY: Rick, I gotta ask. You know, what are we gonna see out of this convention? Are we gonna see, you know, more divisive language from Trump? Or are we going to see, perhaps, people call for a greater coalition underneath Trump, maybe trying to bring in more folks-- as you alluded to-- with college-educated women? What can we expect from this? Or will it just be kind of a, you know, showcase of how awesome Trump believes he is?

RICK NEWMAN: Well, I think it'll be that. For sure, it will be kind of a highlight reel of what Trump thinks his highlights are. It's gonna feature Trump a lot. So it's gonna be all about Trump.

They're all-- the Trump family members we're all used to, they'll all show up. And, you know, one of the things-- the contrast between the Democratic Convention will be pretty stark because at least on the list of announced speakers so far, there are no, like, elder statesmen of the Republican Party. No former presidents are gonna speak. And that would only basically be George W. Bush. He's not-- he's obviously not gonna speak.

We're not gonna have anybody like Colin Powell, who, obviously, endorsed Joe Biden last week. So I think it's gonna be the same divisive rhetoric we've been hearing about all along. Trump's gonna tell us that Joe Biden is senile, that Joe Biden is gonna raise everybody's taxes, that Joe Biden is a socialist and he's a puppet of the socialist Democrats, and all these things that we've heard-- we've been hearing for the last three months. So I think it's gonna be kind of ugly. I think they're gonna be kind of preaching to the choir among the Trump base. And I'm not sure they're gonna move the needle very much.

JULIE HYMAN: Well, there will be Ted Nugent.