The A&G Replay Tuesday Hour Three

Summary

Armstrong & Getty On Demand: The A&G Replay Tuesday Hour Three – Episode Summary

Release Date: December 24, 2024
Host: Armstrong & Getty
Produced by: iHeartPodcasts

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1. Presidential Turkey Pardon: A Historical and Cultural Critique

Timestamp: 05:23 – 09:59

Armstrong and Getty delve into the annual tradition of the presidential turkey pardon, offering a scathing critique of its origins and implications. They trace the practice back to President Harry Truman, highlighting its evolution into a symbolic yet misguided gesture.

• Armstrong remarks, "It's pretty gruesome... the idea of a pardon, of something being put to death." (09:08)

• Getty adds, "The annual presidential pardon is doubly absurd because no one has ever claimed that turkey did anything wrong." (09:44)

The hosts argue that pardoning turkeys is an illogical act, juxtaposing it with the serious nature of actual presidential pardons for human crimes. They point out the hypocrisy and lack of rationale behind saving an animal slated for consumption, questioning the societal values that uphold such traditions.

2. AI in Parenting and Education: The Future of Child Development

Timestamp: 18:26 – 21:15

The conversation shifts to the integration of Artificial Intelligence in parenting and education. Armstrong shares a personal anecdote about his five-year-old son interacting with ChatGPT, pondering whether AI could revolutionize teaching or disrupt traditional human relationships.

• Armstrong states, "This is going to be revolutionary. The essentially free, infinitely patient, super genius teacher slash parent." (18:26)

• Getty responds with concern, "If the kid... marries it then, then it's disturbing." (19:56)

Their debate centers on the potential benefits of AI as educational tools versus the dangers of replacing essential human interactions. They express mixed feelings about AI's role, acknowledging its capabilities while questioning its impact on societal norms and personal relationships.

3. The "Passion Tax" Debate: Anti-Work Philosophy Under Scrutiny

Timestamp: 31:09 – 35:21

Armstrong and Getty tackle the concept of the "passion tax," a term from anti-work philosophy that suggests individuals who love their jobs end up paying a hidden cost by accepting lower wages.

• Armstrong explains, "The passion tax is the difference between working a job you hate... and working a job you love, where you probably put in more hours and are willing to take less pay." (32:02)

• Getty counters, "The whole point is to portray everybody as a victim." (34:56)

They argue against the notion that finding joy in one's work inherently disadvantages the individual financially. Instead, they advocate for personal responsibility and resilience, rejecting the idea that systemic changes are necessary to address workplace dissatisfaction. The hosts emphasize fostering a proactive mindset over embracing victimhood narratives.

4. Economic Policies and Modern Monetary Theory (MMT)

Timestamp: 27:07 – 30:26

A substantial portion of the episode focuses on economic discussions, particularly critiquing Modern Monetary Theory (MMT) and its implications for government fiscal policies.

• Getty critiques Jared Bernstein, the chairman of the President's Economic Advisory Council, "How is that guy an economic advisor of any kind? Who answers a question like that?" (29:24)

• Armstrong emphasizes skepticism, "If he didn't want to say plainly, we spend more than we take in and borrow the balance..." (29:58)

They dissect Bernstein's explanations of government money printing and borrowing, suggesting a lack of clarity and expertise. Armstrong and Getty express doubts about MMT's viability, portraying it as a politically driven but economically flawed theory. They question the advisors' competency in handling complex economic principles, highlighting the potential risks of adopting such policies.

5. Corporate Taxation and Its Impact on Consumers and Workers

Timestamp: 43:51 – 47:18

The discussion shifts to corporate taxation, where Armstrong and Getty analyze how tax policies affect the average American.

• Getty states, "When the corporate tax rate increases, corporations try to pass the cost onto consumers..." (45:44)

• Armstrong highlights, "About 93 million families pay more in corporate taxes than they do in individual income taxes." (46:16)

They argue that corporate taxes are indirectly borne by consumers, workers, and investors rather than just by the corporations themselves. By breaking down the incidence of corporate taxes, the hosts demonstrate that nearly half of American families are impacted by these taxes more than their own income taxes. They critique Democratic narratives that target corporations as the primary tax burden, asserting that the real cost is distributed across the broader populace.

6. Health Care System Flaws and Personal Experiences

Timestamp: 40:34 – 41:57

Armstrong shares a personal story about dealing with exorbitant medical bills following a motorcycle accident, highlighting the inefficiencies and high costs within the U.S. health care system.

• Armstrong recounts, "I've got a bill for $2,000 and it said... threatening me with collections..." (40:34)

• Getty adds context, "Health insurers are paying for soaring wages for workers..." (40:47)

They discuss the rising costs of hospital procedures and the confusion surrounding insurance coverage. Armstrong criticizes the lack of transparency and the financial burden placed on individuals, while Getty points out systemic issues like inflated wages and monopolistic practices in the healthcare industry. Their conversation underscores the urgent need for comprehensive health care reform to alleviate personal and systemic financial pressures.

7. Inflation Drivers: Rents and Hospital Costs

Timestamp: 39:37 – 43:51

The hosts examine the persistent issue of high inflation, identifying rents and hospital costs as primary contributors.

• Getty highlights, "Hospital prices jumped 7.7% last month from a year ago..." (39:37)

• Armstrong adds, "The aluminum used for curtain tracks now costs a bunch..." (40:34)

They reference data from the Labor Department and the Wall Street Journal, illustrating how rising expenses in essential services and materials are fueling inflation. Armstrong and Getty explore how these cost increases affect small businesses and consumers alike, advocating for policies that address these fundamental economic pressures to stabilize prices.

8. Media Representation and Public Perception of Taxation

Timestamp: 44:56 – 47:18

Continuing their critique of media narratives, Armstrong and Getty discuss how media outlets portray taxation and its effects on the public.

• Armstrong remarks, "Democrats call up the image of the greedy robber baron... But when you pull back the curtain, it isn't the wizard or robber baron you see, but yourself..." (47:18)

• Getty emphasizes, "Many Americans don't pay individual income taxes, but all Americans pay corporate taxes." (46:16)

They argue that media representations oversimplify complex economic interactions, often misleading the public about who truly bears the burden of corporate taxes. By dissecting the portrayal of corporations as singular entities, the hosts reveal the broader distribution of tax responsibilities across various segments of society, challenging listeners to rethink commonly held beliefs about taxation.

Notable Quotes

• Armstrong (09:08): "It's pretty gruesome... the idea of a pardon, of something being put to death."

• Getty (09:44): "The annual presidential pardon is doubly absurd because no one has ever claimed that turkey did anything wrong."

• Armstrong (18:26): "This is going to be revolutionary. The essentially free, infinitely patient, super genius teacher slash parent."

• Getty (34:56): "The whole point is to portray everybody as a victim."

• Armstrong (29:58): "If he didn't want to say plainly, we spend more than we take in and borrow the balance..."

• Getty (46:16): "About 93 million families pay more in corporate taxes than they do in individual income taxes."

Conclusion

In this episode of "Armstrong & Getty On Demand," the hosts engage in a multifaceted discussion covering presidential traditions, the role of AI in education, economic theories, corporate taxation, and systemic flaws in the health care system. Through sharp critiques and personal anecdotes, Armstrong and Getty challenge prevailing narratives, encouraging listeners to critically evaluate societal norms and policy implications. Their blend of humor and insightful analysis provides a compelling exploration of contemporary issues affecting everyday Americans.

Transcript

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[Michael]

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[Jack]

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[Eva]

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[Jack]

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[Armstrong]

From Studio C Armstrong and Getty we're off for a couple of weeks. We're taking a break. Come on. You get a break, we get a break. We'll be live for 25.

[Michael]

Enjoy this carefully curated Armstrong and Getty replay. And as long as we're off, perhaps you'd like to catch up on podcasts. Subscribe to Armstrong and Getty on Demand or One More Thing. We think you'll enjoy it, sir.

[Armstrong]

It's essentially a buzzer that they're employing. This is especially important at American Airlines because it's the biggest airline in the U.S. they have nine different boarding groups, which makes it sort of especially confusing for folks. The problem is people who are jumping the line. It's known as gate. That is the they're called gate lice. That is the term that the airline uses in some cases. It's primarily something that bloggers have come up with. People who hang around. It is kind of yes, I don't want to be a louse either, but the big thing here is that if you scan your boarding pass that American is trying this new technology on, it'll sound an alarm and make it so that you go to the back of the line and they can come back in when your group is called. Okay, so this is you're already through security. You're up there at your plane and they say it's time to board. But you're group three and you try to get up there with group one and they call you gate lice. And Jake Tapper ridiculously says sort of dehumanizing.

[Michael]

Whatever, Jake.

[Armstrong]

Who worries about crap like that? Whatever. Okay, just call you jerks or a holes. It's the same thing. Get in when your group is if you want a better group, buy your tickets earlier or pay more or whatever. The way it works, a gate license.

[Michael]

Some refer to them as airport apes. Who cares? It's. It's bored, annoyed employees who deal with the public all day long came up with a semi amusing nickname to help, you know, cut into the drudgery of their day a little bit. Jake, It'll be okay.

[Armstrong]

Right?

[Michael]

You know, it's though people, there's you Know, the, the amount of jiviness in media has, has changed a little bit. You know, back in the day, you were utterly dignified and besuited and, and, and, you know, obviously very clean language and stuff like that. And people don't live like that.

[Armstrong]

But it's besoted.

[Michael]

It's, it's fine. But like a Jake Tapper, what is it in him that makes him think, well, because of the nature of my job and the people looking in, the dignity of the profession, I need to say, well, that's somewhat dehumanizing. Who's worried about that? Seriously. Anyway, back to the lousy, lousy gate.

[Armstrong]

Who's worried about. This is another question with Thanksgiving coming up. That's why we're talking about all the travel.

[Michael]

Hey, let me, let me just make a. Say a word in support of the American Airlines. We who are in group two don't wish to rub elbows with you group three, poppers. All right, know your place. Group three, four, and five. All right, enough said.

[Armstrong]

Oh, boy.

[Michael]

Comfort plus doesn't refer to plus. You stay back in your group.

[Armstrong]

Animals Tom flying on Tuesday. And I look forward to. But the point is, we're going to grandma and grandpa's for Thanksgiving and gonna have turkey. Well, maybe you think that is a horror or not. Guest essay, opinion piece in the New York Times today. What a lame duck president could do for lame turkeys.

[Michael]

Good start.

[Armstrong]

We've wondered about the presidential pardoning of the turkey for years. Boy, how's Biden gonna pull that off? All right. Anyway, he writes, someone at the National Turkey Federation once had an idea. Let's send a live turkey to Harry Truman for a presidential holiday feast.

[Michael]

They thought, we'll promote turkey stunt.

[Armstrong]

Yeah, publicity stunt. We'll send a live turkey to Preston Truman. Previously, some individual turkey producers had sent their products to the president to promote them. But the greater resources at the National Turkey Federation meant that the story could be promoted more effectively. The turkey that was sent to President Truman was killed and eaten.

[Michael]

Way to go, Harry.

[Armstrong]

Give him hell, Harry, huh? Make America great again. Back when presidents would get a life turkey and just say cool and kill it. Need it barbaric. And then turkeys were subsequently sent to President Dwight D. Eisenhower, who also killed and ate them. But in 1963, in one of his last official acts before his assassination. All right. God, it would have been days before he got his head blown apart.

[Michael]

Right?

[Armstrong]

November 63, President John F. Kennedy, when face to face with his live turkey, disregarded the sign hung around the bird's neck. That read, Good evening, Mr. President. How different is the country now than. Than that they would send a live turkey that was going to get killed and eaten, and they put a sign around its neck, you know, happy eating.

[Michael]

We were more realistic people.

[Armstrong]

Yes, we were. Now you have essays in the New York Times decrying the horror that people eat turkeys at all. Anyway, John F. Kennedy, when face to face with the live turkey, disregarded the sign, hung around his neck and said, let's keep him going. Kennedy didn't say anything about pardoning the turkey.

[Michael]

Now, if you'll excuse me, I am going to go stuff an intern.

[Armstrong]

Right. He didn't say anything about pardoning the turkey, but the media referred to his act as a pardon or reprieve. President George H.W. bush was the first to pretend that a turkey was receiving an official pardon. And we've been doing it for the last 40 years. Where the President comes out and bestows it really is pretty gruesome if you think about it, because it's. I don't mean gruesome from a turkey standpoint, but just the idea of a pardon, of something being put to death. There are people on death row. There was a big one this week where they appeal to governors or the president to try not to be executed as a human being. And the governor or president makes a decision whether or not to do that.

[Michael]

To kind of generally they don't get.

[Armstrong]

The part right to kind of joke about that activity. I officially pardon you, turkey, not that other guy earlier in the week, which they probably didn't deserve a pardon.

[Michael]

But you're not wrong. But to me, the pardoning the turkey shows weakness. This is why Putin invaded Ukraine, because we're not even tough enough to execute our guilty turkeys. Guilty of delicious.

[Armstrong]

I agree. This is where the essay in the New York Times turns really stupid. We pardon people for crimes they have committed. Modern law has long abandoned the view that animals can commit crimes. That makes it impossible to take seriously the idea that turkeys need to be pardoned no matter what they have done. But the annual.

[Michael]

Is it just me or are you waiting for a punchline, too? This can't possibly be serious.

[Field Representative]

Yeah, me.

[Michael]

I'm waiting for it.

[Armstrong]

But the annual presidential pardon is doubly absurd because no one has ever claimed that turkey said to the president have done anything wrong. Not even in the sense that your cat does something wrong when she punishes you for going on vacation by using your bed as her litter box.

[Michael]

Now, this is very dry humor. Very, very dry. How to avoid Dry turkey breasts at the table coming up next. Stay with us.

[Armstrong]

And then it goes into, how about these turkey producers have received millions of dollars as a subsidy for something or other after sending the turkeys to.

[Field Representative]

It's just.

[Armstrong]

It's all convoluted. I guess I'm supposed to be upset about this in some way.

[Michael]

Oh, boy. Let me pencil that in in my list of things to be worried about right after. I don't even know.

[Armstrong]

And then it gets into the good reason some people choose not to eat turkeys. Turkeys eaten by Americans today are nothing like wild turkeys eaten by the early European settlers. And how turkeys are not treated well. And there are other things you could eat. Remember our old newsman Marshall used to go to a tofu turkey thing that some tofurkey tofurkey that some vegetarian friend of his put together? I don't doubt that the turkeys are not treated in the best way. It doesn't surprise me.

[Michael]

Okay, I've penciled in concern about this right below. The laces in my golf shoes get dirty and I have to take them out to launder them.

[Armstrong]

Well, I'll read you the last paragraph of this serious thing. If we insist on sticking with the idea of pardoning someone for Thanksgiving, it's the heads of the giant corporations profiting from the industrial production of turkeys who are in need of a pardon. But to deserve it, they would first have to show remorse for what they have done. Okay, well, you're fun at a party. How hilarious is that? They're bothered by the pardoning of the turkey.

[Michael]

Speaking of fun at a gathering, I was reading this piece. It's actually a decent piece about how more and more people seem to be semi sober. They're like, drinking more mindfully or less frequently, as the. The medical establishment has said. You know, even one glass of wine, it's not good for you. Alcohol is just not good for you. And people are being more mindful. And this woman is talking about, you know, I've actually enjoyed it more and blah, blah, blah. And I was thinking of the person who's just a drag at a party. Like, if that guy shows up, I'm leaving. Sorry, Grandma. I know you've only got a week to live, but I'm not hanging out with that idio. Sorry. Wow. If you're an introvert, a little. A little nip or two. That's how I get through it.

[Armstrong]

So is the. Is it like, sweeping the nation, this being concerned about drinking, or is it just a no?

[Michael]

I think. I think it's absolutely on the increase. Young people are drinking less than all the generations before them, partly because they're giving themselves psychosis with the pot. Not universally, but I think attitudes on alcohol are evolving, no doubt.

[Armstrong]

Interesting. Well, it is after what, a couple decades? Certainly a decade of being told, oh, wow, if you aren't drinking red wine, you're being awful to your children because it's gonna make your heart so much healthier than they decided, what, a couple of years ago we were wrong about all that.

[Michael]

And sorry, sorry, we're not gonna hurt you. The red wine. But any alcohol is bad.

[Armstrong]

Yeah, that's it. That was yet another reason why I ignore most studies about any sort of health thing.

[Paris Hilton]

Any.

[Armstrong]

They. They changed their mind so many times in my life. How do you not roll your eyes at any study about this food or diet or drink or whatever based on history?

[Michael]

At least wait and see.

[Armstrong]

Wait a long time and see.

[Michael]

Speaking of which, fruit loops are going to be the center of the great controversy of next year. The humble fruit loop. No damn fruit anywhere near him, by the way, as RFK Jr. Is really hammering on processed foods and artificial Dy, that sort of thing. Got some details on that. Plus the Armstrong and Getty Court of Justice will swing into action and rejudge Juicy Smolay.

[Armstrong]

Hey, Hansen. CBS has an interview with the first transgender congresswoman. Be kind of interested to hear what she's talking about. If they get into that whole bathroom, her fluffle that you can't become a.

[Michael]

Woman by taking hormones and getting surgeries. It's. That's a medical impossibility.

[Armstrong]

She's got long hair and female clothes on. Looking at her up there, I've not personally looked under her skirt.

[Michael]

So again, you can do anything you want under the skirt. It does not change the sex of the person involved.

[Armstrong]

How recently did she transition? Do we know this? No, she didn't like run as a dude and is now a chick or anything like that. Right. Isn't that reason? Well, no.

[Michael]

If she was ever a dude, she's not a chick now. I think you're missing the point. I think I get your Armstrong and get it?

[Jack]

You wake up, put on your Ray Ban meta glasses, classic style, innovative tech, you're living all in. You realize you need coffee desperately.

[Michael]

So you say, hey, Meta, how do.

[Joe]

I make a latte?

[Michael]

To make a latte, brew two shots of espresso.

[Jack]

After meta AI gets you caffeinated, you start walking to work and you need a soundtrack.

[Joe]

Hey, Meta, play hip hop music with.

[Jack]

A built in camera. You snap a pic of a dope mural on the side of a building that you think is worth sharing.

[Michael]

Hey Meta.

[Joe]

Text my last photo to Eva.

[Jack]

Sending message after work, you head to meet some friends.

[Michael]

Hey nice glasses.

[Jack]

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[Eva]

Don'T know if you know this, but when you don't have time to read the Washington Post, you can listen to it. Almost every article has a listening option and right now you can become a Washington Post subscriber for just 50 cents a week. It's an incredible deal. Stay on top of what's happening by signing [e-mail] pod that's washingtonpost.com pod.

[Michael]

It'S.

[Paris Hilton]

Beginning to sound a lot like the holidays. The Roku Channel, your home for free and premium TV is giving you access to holiday music and genre base stations from iHeart, all for free. Find the soundtrack of the season with channels like iHeartChrist and North Pole Radio. The Roku Channel is available on all Roku devices, Web, Amazon, Fire TV, Google TV, Samsung TVs and the Roku mobile app on iOS and Android devices. So stream what you love and turn up the cheer with iheartradio on the Roku Channel. Happy streaming.

[Joe]

Hey loves, it's Paris Hilton. Are you ready to sliv your best life this holiday season? Well, I've got the ultimate holiday giveaway just for you. Go to parishilton.comgiveaway to win a fabulous gift basket filled with handpicked faves from my gift guide. From my iconic cookware and chic apparel to glam goodies from my go to brands, this bundle has it all. Don't wait. Enter [e-mail] giveaway good luck and happy Holidays. Keep sliving. That's hot.

[Armstrong]

If for some reason you were picturing me in my underwear, it would be Mack Weldon underwear. Oh, you weren't. Anyway, it would be Mack Weldon underwear. And also I'm wearing a Mack Weldon T shirt.

[Michael]

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[Armstrong]

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[Michael]

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[Armstrong]

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[Michael]

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[Armstrong]

Little kid playing with Chat GPT and I wonder if this is going to be the future of parenting for some people. Just watched my 5 year old son chat with chat GPT advanced voice mode for over 45 minutes. It started with a question about how cars were made. It explained it in a way that he could understand. He started peppering it with questions. Then he told it about his teacher and that he was learning to count. Chat GPT started quizzing him on counting and egging on and making it into a game. He was laughing and having a blast and it obviously never lost patience with him. I think this is going to be revolutionary. The essentially free, infinitely patient, super genius teacher slash parent that calibrates itself perfectly to your kids learning style and pace. I'm excited about the future.

[Michael]

The slash parent part bothered me.

[Armstrong]

I don't know what to think about that.

[Michael]

It's an interactive book. Like a really, really good interactive book.

[Armstrong]

If you look at it that way, it's not as disturbing. If you look at it as a substitute for a human that makes us all weird, then it bothers me. If it's, if it's a substitute for a human relationship, that's the feeling it takes on. Yet it's there's no human involved that weirds me out. But if you look at it as an interactive book then it's fine.

[Michael]

Teacher student is a human relationship. I'm just trying to figure out where exactly I stand on this.

[Armstrong]

I'm not exactly sure where I was. That's why I brought it. I thought this might be cool. This might be awful. This might be the end of society. It might be great for kids. I have no idea which.

[Michael]

Well, if the, the kid who likes to count grows up, puts this thing's voice in a sex doll and marries it then, then it's disturbing. If it's just an interactive learning tool.

[Armstrong]

For instance.

[Michael]

Yeah, yeah. You know I, I've got this. You know, I, I Love being alive. And I'm having a lot of fun even on my bad days. But I. I'm kind of a man. I picture like my last day on earth looking around and thinking, good luck, y'all.

[Armstrong]

Yeah, no kidding. Yeah. No country for old men, man.

[Michael]

Yeah, good luck. Yeah. Although I'd sure like to see how some of this plays out. Just purely out of curiosity.

[Armstrong]

Yes, I think that a lot. I hope I live long enough to see how this turns out or that turns out or this turns out. No doubt about it, huh? Okay. Well, we'll see what happens. I think you'll have. I think as many kids will have this interactive book. That's fantastic. There might be more. See, that was a 5 year old. There might be more 25 year olds that have a GPT girlfriend rather than a real relationship. And. And then that. Yeah, this the other end of it.

[Michael]

Maybe then there will be no more humans except in the third world and they'll overrun the western world. That's just the way things go.

[Armstrong]

Yay.

[Michael]

Do you want to hear a really disturbing note on that topic?

[Armstrong]

Who doesn't?

[Michael]

And this is. And this I think is undeniable as I look at the Internet and all given. Well, assuming that there are evil people and will always be evil people, the more effective and advanced modes of communication get, the more effective evildoers are in indoctrinating people into evil. Now you would. The obvious counter to that is, well, what about good people? Helping people understand what is good. Yeah, true. Maybe it's just that we. The reasonable insane, if I am.

[Armstrong]

And sane.

[Michael]

Or insane and sane and also sane. Enunciation is so important, Jack. We both agree on that. That we let the educational complex become radical and radicalize the students. And the Internet's a big part of that. I just. I think the more advanced communication gets, the more the evildoers will use those advances to indoctrinate. Like that little kid who likes to count. I mean, when he's in high school and now he's into physics. Actually. Will the teachers who are involved in programming that stuff slip them a little intersectionality and a little, you know. Johnny, do you ever feel like a girl?

[Armstrong]

You know, I just Trump had 37 felonies. Let's count to 37. That sort of thing.

[Michael]

Yeah, it just, it's. It goes back to my whole. The tree of knowledge is technology.

[Armstrong]

No truth.

[Michael]

The Internet or AI or something. Yeah. I don't know. The fruit of the tree of knowledge, I should say from the. From Genesis.

[Armstrong]

The.

[Michael]

Not the car maker. The Biblical book, the Bible. I'm done now I think.

[Armstrong]

Go ahead Armstrong and Gettys.

[Jack]

You wake up, put on your Ray Ban meta glasses classic style, innovative tech. You're living all in. You realize you need coffee desperately so.

[Joe]

You say hey Meta, how do I make a latte?

[Michael]

To make a latte brew two shots of espresso.

[Jack]

After Meta AI gets you caffeinated, you start walking to work and you need a soundtrack.

[Michael]

Hey Meta.

[Jack]

Play hip hop music with the built in camera. You snap a pic of a dope mural mural on the side of a building that you think is worth sharing.

[Joe]

Hey Meta Text my last photo to Eva.

[Michael]

Sending message.

[Jack]

After work you head to meet some friends. Hey nice glasses Ray Ban Meta glasses. The next generation of AI glasses. Just say hey Meta to harness the power of meta AI listen to music, make hands free calls with open air audio and built in microphones and so much more. All while staying present to the world around you. Shop Ray Ban meta [e-mail] smartglasses I.

[Eva]

Don'T know if you know this, but when you don't have time to read the Washington Post, you can listen to it. Almost every article has a listening option and right now you can become a Washington Post subscriber for just 50 cents a week. It's an incredible deal. Stay on top of what's happening by signing [e-mail] pod that's washingtonpost.com pod.

[Paris Hilton]

It'S beginning to sound a lot like the holidays. The Roku Channel, your home for free and premium TV is giving you access to holiday music and genre base stations from iHeart, all for free. Find the soundtrack of the season with channels like iHeartCreation, Christmas and North Pole Radio. The Roku Channel is available on all Roku devices, Web, Amazon, Fire TV, Google TV, Samsung TVs and the Roku mobile app on iOS and Android devices. So stream what you love and turn up the cheer with iheartradio on the Roku Channel. Happy streaming.

[Joe]

Hey loves, it's Paris Hilton. Are you ready to sliv your best life this holiday season? Well, I've got the ultimate holiday giveaway just for you. Go to parishilton.comgiveaway to win a fabulous gift basket filled with handpicked faves from my gift guide. From my iconic cookware and chic apparel to glam goodies from my go to brands, this bundle has it all. Don't wait. Enter [e-mail] giveaway good luck and Happy Holidays. Keep slimming. That's hot.

[Field Representative]

The dating app fatigue is real mindless, swiping, meaningless DMs and an overwhelming amount of likes have made us feel more disconnected than ever. While most dating apps are all about pursuing someone else else, there's one that's carved out of space for you to find yourself. Download Field F E E L D.

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In fact, 62% of field members evolve their sexuality, interests, and desires within their first year on the app.

You have the freedom to explore who you are and what you like in ways you haven't imagined.

As part of this community, you'll quickly find that people regularly practice honesty and openness. See any Field Bio Download Field F E E L D on the App.

Store or Google Play.

[Michael]

Pk we have so much to squeeze in this hour and the whole show. Hope you can stay tuned. But man, we ran this clip once and got so much reactions, so many requests to hear it again. We thought, all right, why not? Jared Bernstein is the voice you're gonna hear responding to a question. He is the chairman of the President's Economic Advisory Council. He is the chief economic advisor to the President of the United States, Joseph r. Biden, D, Delaware. And it's amazing. 90.

[Armstrong]

Michael, like you said, they print the dollar.

[Joe]

So why does the government even borrow?

[Michael]

Well.

[I]

Again, some of this stuff gets. Some of the language that the. Mm. Some of the language and concepts are just confusing. I mean, the government definitely prints money and it definitely lends that money, which is why the government definitely prints money and then it lends that money by selling bonds. Is that what they do? They. Yeah, they sell bonds. Yeah, they sell bonds. Right. Since they sell bonds and people buy the bonds and lend them the money.

[Joe]

Yeah.

[I]

So a lot of times, a lot of times, at least to my year with mmt, the language and the concepts can be kind of unnecessarily confusing. But there is no question that the government prints money and then it uses that money to. So, yeah, I guess I'm just. I can't really talk. I don't. I don't get it. I don't know what they're talking about. Like, because it's like the government clearly prints money. It does it all the time, and it clearly borrows. Otherwise we wouldn't be having this debt and deficit conversation. So I don't think there's anything confusing there.

[Armstrong]

And what's his position again?

[Michael]

He's the chairman of the Council of Economic Advisors. Does anybody have any questions?

[Armstrong]

So when we first played that, and when I first heard the first part of it, I thought, okay, this is a guy that's just so in the weeds and so knowledgeable, he's trying to figure out how to dumb it down is too coarse. But, you know, just to present it in a way that a layman can understand it. But then it becomes completely clear when he starts saying, is that right? I don't know. That's a good. That he actually doesn't know.

[Michael]

Yeah, that was just bizarre. He makes reference to mmt, which, if you're not familiar with it, it's modern monetary theory. It is a fringe left AOC theory that governments can go into as much debt as they want. Just keep spending and spending because you can always grow the faster than your interest payments. And that gets everybody employed. It's super popular with green New Dealers, but man, it is a fringe way of looking at.

[Armstrong]

But how is that guy an economic advisor of any kind? Who answers a question like that?

[Michael]

The only answer I can come up with, and I'm not sure it's a great one, but is that he didn't want to say plainly, we spend more than we take in and borrow the balance because that's how we buy votes. That we're just. We're just spending money to stay in power and we'll have to pay it back eventually. But as long as it doesn't happen on our watch, as long as the disaster, the foreclosure doesn't happen on our watch, we don't care.

[Armstrong]

I don't know if you're right or if you're giving him too much credit. It's possible that he just had the right politics and so they put him in that position and he's actually not good at his job.

[Michael]

Like he's a major donor or something.

[Armstrong]

I don't know. Or tied to the right people. I don't know.

[Michael]

Yeah, that was. That was crazy.

[Armstrong]

It is. It's. It's amazing. That's the second time I heard it, and it's just as amazing. It. Yeah, we're an expert in this. That's your answer.

[Michael]

Where are the adults? All right. Gotta move on.

[Armstrong]

I don't say about that. I got. I want to tease this because I'm gonna get to it later.

[Michael]

Elections matter, folks. Elections matter. This is the most election of our lifetime.

[Armstrong]

This is the most election of our lifetime.

[Michael]

You can't argue with that. She might. Literally. You can't. She.

[Armstrong]

She might be the future president.

[Michael]

Don't you threaten me like that?

[Armstrong]

I'm going to get to this later. I heard this on npr, so I had to look up the details. I just heard the tease on npr. I didn't hear him do the story. What's the cash value of being white? A Nobel economist has come up with it, and you're going to find it annoying.

[Michael]

I'm already annoyed. Boy, that's great.

[Armstrong]

It gets to. Because we talked about this the other day. It's similar to the. I don't remember the name of the term, the tax, the. The passion taxion tax, which I also heard about on npr, which I'd never heard of before, but I looked it up and it's a thing. It's the idea that the Marxists, or people who don't believe in capitalism or whatever, believe that if you like your job, you're paying a passion tax and you don't even know it because you're probably working for less than you would work if you didn't like your job, right? That's the passion tax. The difference between working a job you hate, where they'd have to pay you more, and working a job you love, where you probably put in more hours and are willing to take less pay. That's the passion tax. And you are being stolen from by your employer through the passion tax, and you don't even know it.

[Michael]

Oh, no.

[Armstrong]

Somehow taking liking a job and turning it into a negative, really quite an amazing feat.

[Michael]

The thing about that philosophy, and I think it's more popular than mine, is that it assumes life just happens to you, that you're a. You're always a victim, that just life drains on you like, well, rain. Not one of my better metaphors. And there's nothing you can do about it except to enact millions and millions and millions of rules to prevent anything bad from ever happening. Whereas our philosophy, I'm sure you share mine, is that. No, no, no. Take hold of your life and live it. Accept the bad hops. Accept that some people are bastards and they're going to cheat you and the rest of it. But you are the captain of your ship. Life doesn't happen to you. You happen to life. Go get it. There will be setbacks. There will be.

[Armstrong]

You'll be screwed.

[Michael]

We've been screwed. But just, you know, leave that behind you and figure out, I'm going to move on. Sadder but wiser. Next guy comes along, tries to screw me like that, he's going to F. What do they say? F A F, O.

[Armstrong]

Yes, exactly. It's a course in philosophy.

[Michael]

Fart around and find out.

[Armstrong]

Right. Come on.

[Michael]

Isn't that a much more exciting way to live your life than oh, I really like what I do, so I think I'm being cheated.

[Armstrong]

Well, there's that aspect of it and then there's just. That's factually true.

[Paris Hilton]

Yeah.

[Armstrong]

I mean, if you, if, if my job was going to be digging holes all day long instead of this, you'd have to pay me a hell of a lot. Yeah, I mean, a lot. A lot. Before I'd quit this job and start digging holes for a living.

[Michael]

Oy. And with my back. You're not going to like my productivity, but.

[Armstrong]

So I'm better off with that. Then I'm paying the passion tax because I like this job, so I do it for less.

[Michael]

But then NPR would have a featurette on how you're getting the abuse bonus and that you are the victim of the abuse bonus. Because the whole point is to portray everybody as a victim.

[Armstrong]

Yeah, I mean, you got to really work hard when you start going with the passion tax and what I again, google it. There's a lot of writing about it, a lot of people talking about it. That Reddit thread of anti work, I'm sure it comes up on that regularly. This, this, this world where you're being screwed in every which way, including if you like your job is weird and.

[Michael]

And if you like your job kinda, but don't like it a ton and you're getting paid more than you would if you love it. But let's. You're getting the neutrality kneecapping. That's how it works. You're just always a victim no matter what happens. And so you've got to give them power to fix it for you.

[Armstrong]

It's the meh manhandling. I'm kind of meh about my job, but.

[Michael]

Oh, you're the victim of the meh manhandling.

[Armstrong]

That is hilarious.

[Michael]

Oh my goodness.

[Armstrong]

So I hope you're not paying the passion tax by liking your job.

[Michael]

Yeah, right.

[Armstrong]

And you go in on the weekend and work more because you know you'd actually do this in your free time. You like your job so much. That's the passion tax.

[Michael]

You know, I was just going to say the number of people who see life the way you do, my friends and we do is way, way, way, way, way more than you would think, given media and education and entertainment, which are the three headed monster of pacifism and progressivism. You're right. Your way of looking at the world is right. Be proud of it be an advocate for it strongly. It was funny. I was taking in some lefty media just to figure out what arguments I'm going up against today and I heard back to back NPR portraying the college anti Israel protests as a groundswell of the true feeling of millions of Americans.

[Armstrong]

I got polling on that that would show that's not TR utterly false.

[Michael]

It's fictional.

[Joe]

The Armstrong and Getty show get more jazz, more Joe podcasts and our hot.

[Michael]

Links at Armstrong and getty.com you wake.

[Jack]

Up, put on your Ray Ban Meta Glasses, classic style, innovative tech. You're living all in. You realize you need coffee desperately.

[Michael]

So you say hey Meta, how do.

[Joe]

I make a latte?

[Michael]

To make a latte brew two shots of espresso.

[Jack]

After Meta AI gets you caffeinated, you start walking to work and you need a soundtrack.

[Michael]

Hey Meta.

[Joe]

Play hip hop music with the built.

[Jack]

In camera, you snap a pic of a dope mural on the side of a building that you think is worth sharing.

[Joe]

Hey Meta, Text my last photo to Eva.

[Jack]

Sending message after work you head to meet some friends.

[Michael]

Hey nice glasses.

[Jack]

Ray Ban Meta Glasses. The next generation of AI glasses. Just say hey Meta. To harness the power of Meta AI. Listen to music, make hands free calls with open air audio and built in microphones and so much more. All while staying present to the world around you. Shop Ray Ban meta [e-mail] Smartglasses Finding.

[Joe]

The right news podcast can feel like dating. It seems promising until you start listening.

[Armstrong]

When you hit play on Post Reports.

[Joe]

You'Ll get fascinating conversations and sometimes a little fun too.

[Armstrong]

I'm Martine Powers.

[Joe]

And I'm Elahi Azadi. Martine and I are the hosts of Post Reports.

[Michael]

The show comes out every weekday from the Washington Post.

[Joe]

You can follow and listen to Post Reports wherever you get your podcasts. They'll be a match, I promise.

[Paris Hilton]

It's beginning to sound a lot like the holidays. The Roku Channel, your home for free and premium tv is giving you access to holiday music and genres, genre bass stations from iHeart, all for free. Find the soundtrack of the season with channels like iHeartChristmas and North Pole Radio. The Roku Channel is available on all Roku devices, Web, Amazon, Fire TV, Google TV, Samsung TVs and the Roku mobile app on iOS and Android devices. So stream what you love and turn up the cheer with iheartradio on the Roku Channel. Happy streaming.

[Joe]

Hey loves, it's Paris Hilton. Are you ready to sliv your best life this holiday season? Well, I've got the ultimate Holiday Giveaway just for you. Go to parishilton.comgiveaway to win a fabulous gift basket filled with handpicked faves from my Gift guide. From my iconic cookware and chic apparel to glam goodies from my Go to Brands. This bundle has it all. Don't wait. Enter [e-mail] giveaway good luck and Happy Holidays. Keep sliding. That's hot.

[Field Representative]

The dating app fatigue is real. Mindless swiping, meaningless DMs and an overwhelming amount of likes have made us feel more disconnected than ever. While most dating apps are all about pursuing someone else, there's one that's carved out of space for you to find yourself. Download Field F E E L D.

On Field, an app where curious people come to connect, you have the breathing room to explore your own desires and go on a journey wherein the person you discover is your.

In fact, 62% of field members evolve their sexuality, interests, and desires within their first year on the app.

You have the freedom to explore who you are and what you like in ways you haven't imagined.

As part of this community, you'll quickly find that people regularly practice honesty and openness. See any Field Bio Download Field F E E L D on the App.

Store or Google Play PK so speaking.

[Michael]

Of money changing hands, a couple of really interesting economic notes for you. First of all, two main reason inflation is still high. 1 rents and 2 hospital costs. Hospital prices jumped 7.7% last month from a year ago, the highest increase in any month since October of 2010 according to the Labor Department. They go into a bunch of different procedures that are significantly more expensive than they were a year ago. And then like anything, any topic discussing the US Health care system, they're like three or four sub conversations you have to bring enlightenment to the topic. Our health care system could not be any more screwed up than it is, I don't think. Of course, having said that, they'll reach new heights of being screwed up between artificial and fictional government compensation rates for Medicare and Medicaid, hospital monopolies in a lot of cities, a lot of our.

[Armstrong]

Regions and and then the way insurance companies work, which I've never understood and I understand less now. Like I I was in the emergency room a week ago today for my motorcycle wreck. I've got a I got a bill for $2,000 and it said on there the insurance company hasn't I forget the word they use, but hasn't looked at all of this yet. I don't know you're threatening me with collections. If I don't pay by this date, how. When's the insurance company take it? What do they cover? What do they not cover? Are they just doing that thing where they hope you'll pay for it it before they cover it? Do I have to hire a lawyer to figure out what is actually supposed to be covered or not? What are you supposed to do?

[Michael]

Right. And keep in mind, if you have insurance, you are paying artificially inflated rates to pay for the government compensation folks and people without insurance at all.

[Armstrong]

And then everybody kept asking me why I didn't take an ambulance, as opposed to limping into a guy's Uber and bleeding all over his seat in his poor Toyota Camry, which it was nice of him to do because the last time I took an ambulance an eighth of a mile for my gallbladder, it cost me $3,000 cash, because that's not covered by insurance. $3,000.

[Michael]

Wow.

[Armstrong]

I don't know what this would have been. It was a lot further away. That's. So I'll never take an ambulance again unless I think I'm gonna die.

[Michael]

You can take a private jet from your house to the hospital for about that. So they do mention that health insurers are paying for soaring wages for workers and other nurses rather and other workers hiring and openings in healthcare have remained strong even as unemployment in other industries has slowed down. I thought that was interesting. Also this. We mentioned earlier that the New York Times had an article about inflation. And the number one comment which was liked by 1140 out of the 1180 people who commented was that the New York Times really needs to get off its butt and do some journalism about how companies are gouging us and how they're artificially raising prices. Well, the Wall Street Journal has a great piece on the title is why is inflation so Stubborn? Ask your local small business. The number of small businesses in America that are contemplating raising prices is the highest they have ever observed. And they go into a bunch of small businesses whose costs, from corrugated paper, from a box business, to all sorts of people are talking about labor costs. A bunch of different inputs. Here's a roofer who hasn't raised prices in a decade and now is gonna have to raise them 20%. Just their costs are killing them. The aluminum used for curtain tracks now costs a bunch buck 31 a foot. That's up about 20% from a year ago. Today they just have a bunch of different examples of it. And then this I thought on a semi similar topic, Jack and I have relationships with a couple of fairly large companies and a couple of little LLCs that are, you know, have roughly the revenue of your local baseball card shop. But. But. So the idea that we're some sort of corporate titans is just not true.

[Armstrong]

Do I look like a titan?

[Michael]

You don't, frankly. But I thought this was great. Phil Graham, the old senator, and Mike Solon, whose name I don't recognize, but they wrote this piece for the Wall Street Journal about how Biden and company are going to hammer hard the idea of we've got to raise taxes on corporations. And they quote a bunch of different speeches where they've said that sort of thing. Obama was big on it too. And how during the Trump tax cuts, the permanent part, there was some temporary stuff, some permanent part was corporate tax rates, which get a lot less attention than individual income tax rates, only because, and I quote, Americans don't understand that corporations don't pay taxes. What? Whoa, wait, what? It's one of the main campaign names of the Democrats. The corporations have to pay higher taxes. You're trying to tell me they don't pay taxes at all? Well, a corporate entity is a pass through legal structure, a piece of paper in some Delaware filing cabinet. As Mitt Romney tried to tell people corporations are people. And he was mocked, of course, by.

[Armstrong]

Corporations are people, my friend. And yeah, that was endlessly mocked.

[Michael]

So when the corporate tax rate increases, corporations try to pass the cost onto consumers to the degree that the entire cost of the tax increase can't be passed down to consumers. Those costs are borne by employees and investors. Most economic studies consider, see that 50 or conclude that 50 to 70% of a corporate tax increase not passed on in higher prices is borne by workers, while 30 to 50% is borne by investors. If you consume, and we all do, you pay the corporate tax. If you consume and you work for a corporation, you pay the corporate tax twice. If you consume work and invest your retirement funds in stocks.

[Armstrong]

Oh, good point.

[Michael]

The corporate tax hits you three times.

[Armstrong]

Wow, that's. I never thought about that third one.

[Michael]

Yeah, here's where it really hits home. Democrats call up the image of the greedy robber baron as a personification of big corporations. But when you pull back the curtain, it isn't the wizard or robber baron you see, but yourself as consumer worker and pensioner. Many Americans don't pay individual income taxes, but all Americans pay corporate taxes. In fact, a recent treasury study confirmed that about 93 million families, about 49% of all American families, pay more in corporate taxes than they do in individual income taxes.

[Jack]

Wow.

[Michael]

And they go into a little detail on how that's true. But here's the part I wanted to.

[Armstrong]

Hit that's not hard to believe given the fact that half the country pays no federal income taxes. So the stock market certainly had never looked at it that way. And that's very interesting.

[Michael]

The stock market surged in 2017 in anticipation of the tax cuts and in 2018, 2019 in response to them. Who owns American corporations? According to Tax Notes, which is a non profit, nonpartisan, blah blah blah, 72% of all domestically held stocks are owned by pension plans, 401ks, individual retirement accounts and charitable organizations, or held by life insurance companies to fund annuities and death benefits.

[Armstrong]

What's that percentage?

[Michael]

72%.

[Armstrong]

Wow.

[Michael]

Of all domestically held stocks are retirement funds, essentially. So when the Democrats draw this cartoon of the fat cat, who's going to be taxed? That's you, man. Look in the mirror.

[Armstrong]

And as I mentioned a week or so ago, this is an underreported story. The Trump tax cuts of 2017 expire in 25. So whoever gets elected, you know what day one is actually going to be. Day one is going to be the battle begins over renewing or not or how much the Trump tax cut package. And that is going to be the biggest political story of the year after the election, no doubt about it.

[Michael]

And the good old fashioned demagoguing of it. Oh yeah, oh yeah, the rich benefited the most. Well, the quote unquote rich pay the vast majority of income taxes. So it'd be hard to design the system where they didn't.

[Eva]

But anyway, Armstrong and Getty, I don't know if you know this, but when you don't have time to read the Washington Post, you can listen to it. Almost every article has a listening option and right now you can become a Washington Post subscriber for just 50 cents a week. It's an incredible deal. Stay on top of what's happening by signing [e-mail] pod that's washingtonpost.com podcast D.

[Paris Hilton]

It'S beginning to sound a lot like the holidays. The Roku Channel, your home for free and premium TV is giving you access to holiday music and genre base stations from Iheart, all for free. Find the soundtrack of the season with channels like Iheart, Christmas and North Pole Radio. The Roku Channel is available on all Roku devices, Web, Amazon, Fire TV, Google TV, Samsung TV and the Roku mobile app on iOS and Android devices. So stream what you love and turn up the cheer with iheartradio on the Roku Channel. Happy streaming.

[Joe]

Hey loves, it's Paris Hilton. Are you ready to sliv your best life this holiday season? Well, I've got the ultimate holiday giveaway just for you. Go to parishilton.comgiveaway to win a fabulous gift basket filled with handpicked faves from my gift guide, from my iconic cookware and chic apparel to glam goodies from my Go to brands, this bundle has it all. Don't wait. Enter [e-mail] giveaway good luck and happy holidays. Keep sliving. That's hot.

[Field Representative]

The dating app fatigue is real. Mindless swiping, meaningless DMs and an overwhelming amount of likes have made us feel more disconnected than ever. While most dating apps are all about pursuing someone else, there's one that's carved out of space for you to find yourself. Download Field and F E E L.

D On Field, an app where curious people come to connect, you have the breathing room to explore your own desires and go on a journey wherein the person you discover is yourself.

In fact, 62% of field members evolve their sexuality, interests, and desires within their first year on the app.

You have the freedom to explore who you are and what you like in ways you haven't imagined.

As part of this community, you'll quickly find that people regularly practice honesty and openness. See any Field Bio Download Field F E E L D on the App Store or Google Play PK History has.

[Michael]

Made this world of ours. History is the reason I'm talking to you in English from a place called the UK with its castles, its warm beer and cricket. It's why the United States doesn't have King Charles in its currency, but Canada does. I'm Dan Snow, and I host Dan Snow's History Hit Podcast. If you want to know the origin story of the cities we inhabit, why we've always been drawn dictators of the long history of what's going on in the Middle East. We've got you covered. Learn about the past and understand our world today. Listen to Dan Snow's History Hit wherever you get your podcasts.