This is a partial transcript from "The O'Reilly Factor," April 30, 2006, that has been edited for clarity.

Watch "The O'Reilly Factor" weeknights at 8 p.m. and 11 p.m. ET and listen to the "Radio Factor!"

MICHELLE MALKIN, GUEST HOST: In the "Factor Original" segment tonight: race politics. Some say it's going to have a huge impact on the upcoming presidential election and that the Democrats currently have the edge. Bill recently spoke with Republican strategist Angela McGlowan, author of the brand-new book "Bamboozled: How Americans Are Being Exploited by the Lies of the Liberal Agenda".

(BEGIN VIDEOTAPE)

BILL O'REILLY, HOST: Angela, there's been a lot of controversy now about whether Al Sharpton will really go after the rap people. He seems to be making some steps. Why the reluctance to go after these people? .

ANGELA MCGLOWAN, REPUBLICAN STRATEGIST: Well, self-preservation is the first law of nature. The Reverend Al Sharpton has had panels at the National Action Network for the last two years on gangster rap.

If you remember in the early `90s, Tipper Gore and Al Gore went after Sister Soljah. And then the black community made them pull back.

Let's go to Imus, though. It took Al Sharpton and his cronies one week to take out Imus. So you mean to tell me you can't take on gangster rap when they've been using the "N" word, the "B" word and the "H" word in our community for years, Bill?

O'REILLY: Yes, but the reason is because Imus is a mainstream white guy, where you can pressure the companies that hire him and Proctor & Gamble pulls out of Imus. Whereas the other world is shadowy.

MCGLOWAN: Bill, corporations are corporations. Why not go after the music industries? Gangster rap has been played by the radio for over a decade.

O'REILLY: I agree with you. I was the — who was the first.

MCGLOWAN: Ludacris! And I commend you on that. Thank you so much.

O'REILLY: ..2001 I went after this guy.

MCGLOWAN: And you know what? You have young white males that are buying this music, too.

O'REILLY: Sure.

MCGLOWAN: So if it's OK.

O'REILLY: It's not a racial thing.

MCGLOWAN: No, it's moral thing, Bill. And if you're going to take out Imus for using the three little dirty words, why not take out 50 Cent, Ludacris and others?

O'REILLY: I'm with you. I'm with you. Why do most black Americans vote Democrat in almost knee jerk?

MCGLOWAN: Because there's race baiting in the liberal mainstream media. I want to give you an example. In Atlanta in 2006, there was an ad that ran that said a vote for a Republican would take us back to Jim Crowe and the water hoses. It's race baiting. Jim Crowe was created by Democrats, Bill.

O'REILLY: But — black Americans are smarter than that.

MCGLOWAN: Oh, come on, Bill. You have some black Americans that don't know that the NAACP was started by Republicans. And also you have some ministers that take walk around money to tell their parishioners how to vote.

O'REILLY: Is that right? Is there a bribery aspect to this?

MCGLOWAN: Yes.

O'REILLY: Is it big?

MCGLOWAN: It's a big bribery aspect.

O'REILLY: Yes? And who's giving them the money?

MCGLOWAN: The liberals.

O'REILLY: Well, wait, no, no, no. The liberals? I mean, is Rosie O'Donnell going down there with a sack of cash. Come on.

MCGLOWAN: Rosie O'Donnell isn't, but I'm pretty sure — look at George Soros and moveon.org.

O'REILLY: You got to document this, though. I mean, your book is very interesting, but if you're going to make a charge that some black preachers, which have a big influence.

MCGLOWAN: Bill.

O'REILLY: ...in many, many communities.

MCGLOWAN: Bill.

O'REILLY: ...are on the pad, how do you know that?

MCGLOWAN: I've experienced it myself.

O'REILLY: Tell me.

MCGLOWAN: In trying to get some of my Republican candidates to go into the black churches, first of all, they don't want them in there.

Second of all, they said Angela, how much are you going to pay us to get them in there?

O'REILLY: Really?

MCGLOWAN: So I have experienced it.

O'REILLY: Is this pervasive? Are a lot of preachers on the pad?

MCGLOWAN: Yes!

O'REILLY: Finally, why is the out of wedlock birth rate among African-Americans 70 percent?

MCGLOWAN: Bill, you have this thing called welfare. The late Patrick Moynihan did the study "The Negro Family" in 1965. At that time in the welfare system, you had the rate at 25 percent. And he stated that it was a slippery slope and was going to get worse.

Aid for Dependent Children at that time and through the past told a young lady that if she got pregnant, that she could go on government assistance. -- Oh, by the way, get pregnant again, don't have a daddy in the home, we'll give you a little more money.

And now today, you have this lost tribe where you have seven out of ten black babies being born out of wedlock.

O'REILLY: Yes, but it's welfare reform time now. We've been into this for 10 years, now and it doesn't seem to be going down.

MCGLOWAN: But Bill, we are making progress. And it was the Republicans in the 104th Congress that started the welfare reform.

O'REILLY: Yes, but Clinton signed it.

MCGLOWAN: After he vetoed it twice. And I heard from a reliable source that he was told if he signed it the third time, he would defeat Bob Dole in 1996. Again, bamboozled.

O'REILLY: Thanks, Angela.

MCGLOWAN: Thank you, Bill.

(END VIDEOTAPE)

Copy: Content and Programming Copyright 2007 Fox News Network, LLC. ALL RIGHTS RESERVED. Transcription Copyright 2007 Voxant, Inc. (www.voxant.com), which takes sole responsibility for the accuracy of the transcription. ALL RIGHTS RESERVED. No license is granted to the user of this material except for the user's personal or internal use and, in such case, only one copy may be printed, nor shall user use any material for commercial purposes or in any fashion that may infringe upon Fox News Network, LLC'S and Voxant, Inc.'s copyrights or other proprietary rights or interests in the material. This is not a legal transcript for purposes of litigation.