This is a rush transcript from "Hannity & Colmes," October 2, 2008. This copy may not be in its final form and may be updated.
ALAN COLMES, CO-HOST: That was seen earlier this evening as both VP candidates squared off in the first and only vice presidential debate. And now here are the results as of now from our U-Vote text voting so far -- 85 percent of you say Palin won, 12 percent of you say Biden is the winner. And close to 0 percent remain undecided. Remember, if you have not yet voted - Hey, Henry have you been dialing in? If you have not yet voted you have until 1:00 a.m. Eastern Time to text your vote to FNCTV.
Joining us now, Florida congresswoman and Obama supporter Debbie Wasserman-Schultz.
Now, there are other polls, the CBS Flash Poll, that just came out, that has a different result. It says 46 for Biden, 21 for Palin.
REP. DEBBIE WASSERMAN SCHULTZ, (D) FLORIDA: Right.
COLMES: I'm sure there will be a number of different polls out.
SCHULTZ: That is a poll of independent voters, as well.
COLMES: What is your take on what happened here tonight?
SCHULTZ: I think it is clear that Joe Biden won this debate, showed he had the depth and breadth and command of the issues to be one heartbeat away from the presidency.
SCHULTZ: Sarah Palin demonstrated that she can memorize talking points really, really well.
COLMES: They are talking about mistakes that Biden made, she misrepresented Obama. This idea that he voted to raised taxes on people making $42,000 a year, or more, that was a nonbinding resolution having to do with what would happen if they took away the Bush tax cuts. Having nothing to do with anything that would be a law, or raising taxes for anybody.
SCHULTZ: What she failed to do tonight is she failed to show how she and John McCain would do anything differently than the Bush administration. We have to make sure that we bring the troops home from this misguided war in Iraq? Establish universal healthcare, invest in alternative energy research. And she and her running-mate are just not the ones, you know?
COLMES: She is the right woman, she is a likable person. In some areas I felt that she was coached. She got the commanders name in Afghanistan - it's McKeirnan, not McClellan, David McClellan. I mean there were a number of things, I thought she was coached. But she was likable and nice and it was a good debate. I don't think minds were changed tonight.
SCHULTZ: I do not think we can be overly - we need to be careful about being overly nit-picky about pronunciation and things like that. The most important thing is, who showed that they were ready for prime time. John McCain and Sarah Palin are not ready for prime time. They would be more of the same.
COLMES: It seems that also, I want to get back to clip we just played about taxes and this continued beating of the drum that Obama is going to raise your taxes. They keep saying that. We know that he is going to lower taxes for everybody making $250,000 a year.
SCHULTZ: That's 95percent Americans.
COLMES: Yes, 95 percent of the country, including 95 percent of business people.
COLMES: That came up tonight. That was a contention of debate. This, again, is part of the talking points we keep hearing over and over again.
COLMES: About what Obama would or would not do.
SCHULTZ: And Sarah Palin was not able to distinguish herself on the fact that John McCain support the more tax cuts for the wealthiest few, $4 billion in tax cuts, more for the oil industry. And you know, what the problem is that the McCain/Palin ticket is when the facts are not on their side, they just make it up.
SEAN HANNITY, CO-HOST: Congresswoman, this is history. Joseph Biden voted for the largest tax increase, nearly $250 billion in American history. The facts are the facts.
SCHULTZ: Didn't Sara Palin say that we shouldn't go back in time?
HANNITY: Excuse me, let me finish my point. The facts are the facts. They both voted numerous times to raise taxes last year for people making $42,000 a year.
SCHULTZ: But what are they talking about doing in the future?
HANNITY: So, you admit Obama voted four times -
SCHULTZ: No. No
HANNITY: to raise taxes on people making $42,000 a year?
SCHULTZ: No, what I am stressing is that John McCain and at Sarah Palin are for cutting taxes more for the wealthiest Americans.
HANNITY: How much - the bottom 50 percent of Americans -- let me ask you a question.
SCHULTZ: You think we haven't taken care of people in America --
HANNITY: Let me ask you a question, the bottom 50 percent of America what percentage of the federal tax bill do you think they pay? Do you have any idea? Answer that, do you have any idea?
SCHULTZ: What percentage of the federal tax bill?
HANNITY: The bottom 50 percent of wage earners?
SCHULTZ: I think what matters -
HANNITY: No, no, answer that question. What percentage do the bottom 50 percent pay?
SCHULTZ: That t is not the question.
HANNITY: How much? Take a guess.
SCHULTZ: I do not know.
HANNITY: The top 2.9 percent. The top 10 percent pay 80 percent of the bill.
SCHULTZ: Look, when it comes to is contributing the bulk of the revenue that we need, it is not the wealthiest few. They are doing just fine in the last eight years under the Bush administration.
HANNITY: I'll tell you what I think the most effective -
SCHULTZ: And Barack Obama and Joe Biden want to make sure that we give a break, finally, to working families.
HANNITY: It was the Bush tax cuts that, by the way, that gave those advantages. But let me ask you this.
SCHULTZ: The Bush tax cuts got us this huge deficit.
HANNITY: Let me tell you this, the most effective moments, though, were on foreign policy. When Joe Biden, himself, had said that the presidency does not lend itself to on-the-job training. Governor Palin brought that up. You said that if you voted against funding the troops, Joe Biden said, about Barack Obama, it would cost lives.
Barack Obama said, about our troops in Afghanistan, they are air raiding villages and killing civilians. And Governor Palin brought that up tonight. You think that is fair to say that about our brave men and women, while they are fighting a war that they are air raiding villages and killing civilians?
SCHULTZ: We are talking about someone who has been to Canada and Mexico and has never met a world leader before.
HANNITY: That's a nice - I'm going to ask you again, do you think that is right for your candidate to accuse our troops of air raiding villages and killing civilians?
SCHULTZ: I think what Joe Biden talked about tonight was the fact that we really need to be investing --
HANNITY: She can't answer a question. You are just like Joe Biden.
SCHULTZ: No, I will answer the questions that are relevant to this presidential campaign.
HANNITY: He wants to be the commander in chief.
SCHULTZ: That we move our troops -
HANNITY: Wait a minute.
SCHULTZ: Not from Iraq, but to move them into Afghanistan -
HANNITY: You don't think it is relevant that your commander in chief is accusing --
SCHULTZ: -- where the war on terror really exists.
HANNITY: our troops of air raiding villages and killing civilians?
SCHULTZ: I do not think that is relevant.
HANNITY: You don't think that is relevant?
SCHULTZ: I don't think he has done that.
HANNITY: I'll bet -- I will give you $10,000, if he did, for your campaign.
SCHULTZ: OK. I'll take the $10,000.
HANNITY: And you give me $1,000 if I don't.
SCHULTZ: I will make sure that we have Joe Biden and Barack Obama leading this country.
HANNITY: I bet. Barack Obama said that our troops are air raiding villages and killing civilians.
SCHULTZ: So we can move the troops to Afghanistan, where the war on terror exists today. That is what Joe Biden was making the case for.
HANNITY: All right, Congresswoman. Spirited and fun, almost like tonight.
SCHULTZ: Always spirited and fun.
COLMES: And you won, just like Biden did tonight.
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