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- [00:02]
Commercial Announcer
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- [00:30]
Glenn Beck
It's tax day. The world is on fire. Donald Trump has not some great approval ratings now from independents. He was plus one. Now he's minus 29 on the economy with independence. What is he going to do? Well, let me first tell you. We give you some history about this. Been done before, about 50 years ago. We'll tell you about that and what he needs to do to turn the ship around. He needs to turn the pressure up on Congress to do the rest. And I explain also Bezos sending my girlfriend up into space on the giant phallic ship with the women screaming all the way. What a story that is. We share it in today's podcast. Out on the wind rustled prairies that still exist in this country, between the veins and the arteries of American cities, towns and even just some wild spots in the road, there still exists the men and women who have always made sure that America's supper was waiting for them on the table. There are farmers and our ranchers. And every day through toil and sweat, they raise the cattle and the pigs and the chickens, all of the food that we have. So you don't have to, so I don't have to. So we can go to the grocery store and fill our baskets. But every year there are fewer and fewer of them. Meat gets shipped in from overseas. Giant meat packing plants drive the small farms and the small ranches out of business. But don't worry, Bill Gates is here and Good Ranchers is here. They're working to change it. They source 100% of their meat from American farms and ranches. Just real beef, real chicken, real pork, born and raised and harvested right here in the United States. So when you subscribe to Good Ranchers, you're putting your money behind American agriculture. I want you to go to goodranchers.com subscribe and get your choice of protein for a year. Stand with American ranchers and farmers. We need these guys to survive. It's goodranchers.com it's goodranchers.com American meat delivered. Hello America. You know we've been fighting every single day. We push back against the lies, the censorship, the nonsense of the mainstream media that they're trying to feed you. We work tirelessly to bring you the unfiltered truth because you deserve it. But to keep this fight going, we need you right now. Would you take a moment and rate and review the Glenn Beck podcast? Give us five stars and leave a comment. Because every single review helps us break through Big Tech's algorithm to reach more Americans who need to hear the truth. This isn't a podcast. This is a movement. And you're part of it, a big part of it. So if you believe in what we're doing, you want more people to wake up, help us push this podcast to the top rate review. Share. Together, we'll make a difference. And thanks for standing with us. Now, let's get to work. You're listening to the best of the Glenn Beck Program. All right, let me take you on a little ride through history here, through the smoky rooms of the 1970s, actually 1971, into what we're experiencing today in the last few weeks with the markets. It is a story of money and power and an idea to pull something off rare, something audacious, to remake the global trade and financial system. That's what we're doing today. But we've done this once before because this is not a new story. It's one that we've almost forgotten. And we can't forget this one, because this is how things went wrong, how everything in America is broken. And maybe, just maybe, what we're doing now might fix it. Let me start in August. It's August 15, 1971. Did you know that France sent warships over to. We had war. French warships. When? I don't even know. I don't even know what those look like. A little tugboat with, like, a pea shooter, I'm not sure. But French warships were in the harbor of New York demanding their gold back because of what Nixon did. When he stepped to the microphone, he said, on April 15, he announced what would be known later as the Nixon Shock. No more gold backing of the $10% tariff on all imports and wage price control to tame inflation. Some call it a shock. I think it was. I think that's an insane understatement. What he did was he broke the Bretton woods system, that grand agreement that happened right after World War II, tying our dollars to gold and the stability, all nations stability to gold and the US Dollar. And that crumbled overnight. The dollar, all of a sudden was free. Free. And with it, it was free to change the World and everybody along with it. Nixon said he wanted to save jobs and fix a $2 billion trade deficit, but that's not true. What Nixon was doing was paying for war and the Great Society. Any of this sound familiar? You know, save American jobs, fix a trade deficit, make sure that we don't go into debt anymore. But what he did is unleash a storm that we're still weathering today. Uh, and now I'm not saying that everything was perfect before 1971. Life never is. But I want to. I want you to look at the numbers and tell me, was this a good shift or a bad shift? In 1971, the top 1%, they held about 8% of the nation's income. By 2010, the top 1% held 20% of the nation's income, their wealth climbing from 16% to now 23%. Last year, the middle class, the heart of America, 61% of us. In 1971, we had 61% of all of the income. By 2021, they're half the country scraping by with only 42%. And the wages, they tell another tale. From 1979 to 2024, productivity, how much we make jumped 81%. But the wages for the people who are making that barely budged now, this is the wages for the bottom 90% of our country. They didn't go up. Well, I shouldn't say that. From 1979 to today, they went up 29%. The houses that cost three times your salary in 1971 now cost six times your salary today. The debt has doubled from 60 cents per dollar to $1.20 by 2007. If you check the charts, everything, everything started to break when Nixon cut the gold cord. So what happened? Well, we birthed a new world without gold. Money supply ballooned. M1 money supply. So, you know, that's the money. That's the cash everybody has. That's liquid, that's in your checking account. That's what's in your wallet. That's what's available to you at an atmosphere. It's, it's whatever you buy pizza with. That's the M1 supply. Okay, that's not. I've got money in stock market or whatever, your available cash. The supply ballooned 9% in 1972 alone. That means printing more money. We have more money chasing few goods. That means inflation. Inflation was up by 11%. Financial Wizards cooked up futures and options and everything else. Where all the things that keep busting like 2008, all of those things that are just these, you Know, it's just alchemy. These financial wizards are like, I'm going to make gold, and it's alchemy. And they keep busting and we keep paying for it, and they get richer. Meanwhile, factories closed. Manufacturing jobs fell from 26% in 1970 to 8% by 2020. Globalization sent jobs to Japan, then China. The trade deficit swelled to $13 billion by 1980. Now, don't get me wrong. Nixon didn't mean to break us. What he was doing is he saw a world slipping. Gold reserves shrinking against $14 billion in 14 billion in foreign dollars. And he acted like a, you know, a farmer burning the crops to save his crops. The fire spread. Stagflation came about, 9% unemployment prices started to soar. The oil crisis didn't help, quadrupling gas costs. Confidence broke. The middle class started its long slide into where we are now. That's the history, raw and real, etched in the Congressional Budget Office numbers and Pew Research. Fast forward to April 2025. Now here's Donald Trump staring down a trade deficit of $971 billion, announcing tariffs 10% on everybody and 125% on China. The market does what a market does when it's spooked. S&P 500 down 5.4% in a week. Volatility, kind of like 87 or 88 treasury yields what we have to pay when we're borrowing money, we sell Treasuries. That's like going to the bank and asking for a loan. Depending on your credit, what is your interest rate? If you have bad credit, the interest rate is higher. We are having bad credit. It's up now to 4.49%. That's a 50 basis point leap. And people are starting to say, let's get out of this. China is hitting back. They are dumping our. Our T bills, our treasury bills. Taiwan stocks, wobbling consumers. People like you and me bracing for higher prices. University of Michigan survey says inflation fears are spiking. It's Nixon. This is Nixon. But take a step back. Trump's not stirring the pot. What. What Nixon did was he took us off the gold standard so we could spend more money. And to make us. This is what he promised the world, that he would make us consumers, not producers, so we would consume what everybody else was producing. So, in a way, that was his plan and he got it. But it cracked the system for, you know, the average person. Nixon's tariffs lasted four months. It didn't fix the core. Trump is going bigger and bolder. He says he's going to bring jobs home. Could it backfire? Yeah, yeah. Tariffs might add another 1 to 2% to prices, maybe 3 to 5 on your Walmart card. Because everything from Walmart's coming from China. The Peterson Institute, by the way, has run the numbers. Higher yields could strain our $2 trillion deficit, make mortgage prices higher. The retaliation from China is real and China is not blinking. And neither are we. Now do we stumble into recession stagflation like the 70s? I don't know. In the 70s, real wages fell 5% in a year. Here's the flip side. If Trump pulls this off, if we start setting things right where we mean what we say and say what we mean, we get everything under control. We're not just spending and we have no real assets that we actually are sitting on. If wages rise 1 to 2% like the IMF predicts, if supply chains come home, we could see something new. Not a return to 1971, but a system where the middle class isn't crushed, where houses don't cost your soul, and where the top 1% don't control almost everything. Even Bernie Sanders would agree with this. But no, no, no, he's not. Cause he's busy at Coachella. I'll get to that here in a second. But here's the thing. History is a very tough teacher. Nixon shock showed good intentions, can spark long fires, inequality, debt, a hollowed, hollowed out heartland. This is a very big stakes game. But what has a higher cost is not trying to fix the system. That's a slow bleed and we're almost out of blood. It's been 50 years to prove the point. This doesn't work. The system is broken, but it's not dead. Imagine a world where our children's jobs actually pay enough, where America is not just buying, but it's building. That's the gamble. And that is the next generation's new American dream. So we're at a crossroads, like we were in 1971. Hopefully we're wiser. Trump's not Nixon. He's got a history map, scars and all. Will he fix what is broke? I don't know. Things are getting a little dangerous and tough. This is where the big boys play. This is why Trump earns the big money, even though he doesn't actually take a paycheck for any of this. But this, we're playing the highest stakes of a game. Here's the latest from China. And I don't know how many people are really focusing on this, but this is the ball game. China now says that they're going to cut us off on rare earth minerals. We have plenty of rare earth minerals. There is a new space race. Do you remember when JFK said this?
- [15:14]
Stu Burguiere
We choose to go to the moon.
- [15:16]
Glenn Beck
In this decade and do the other things, not because they are easy, but.
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Stu Burguiere
Because they are hard.
- [15:23]
Glenn Beck
Apparently even harder than saying decade not decayed. I don't. Anyway, I digress. So this was really important because it was a space race. This would change the world. Whoever got to space first, got to the moon first, would change the world. But there's a new race and it is just as game changing, this one is even more critical and that is the race for rare earth minerals. The tiny elements that power everything in our future. Right now, China has just pulled a giant gun and they're holding it to our head. They are threatening to cut off all exports of rare earth minerals. And if we don't act with a JFK kind of moonshot, we will lose the AI race. We'll lose quantum computing race. We will lose every technological leap that is just over the horizon. Rare earth minerals are not just elements and rocks in the ground. They are the backbone to our modern world. Everything from high tech weaponry that will defend our skies, to the smartphones that are in your pocket, to the wind turbine eyesores that you know the left love so much and mean nothing. And the quantum computers that will redefine what is possible. Here's the deal. In 2024, we produced 45,000 metric tons of rare earth oxide concentrate from the U.S. mostly in the mountain pass in California. Sounds great, but we only refined about 6,500 metric tons of usable material. 66,006. Yeah, 6,600 metric tons is our demand every year. So we're close and yet so far away. Because 70% of we of what we need still comes from China. And Beijing knows this. And this month they've halted all exports, saying it's in their national interest to stop. We knew this was coming. We've talked about this for a long time. Do not be held hostage. They are weaponizing the rare earth minerals. Let me tell you about the burner launcher. The burner launcher. Something goes wrong, you either rise to the occasion or you fall to the level of your lack of preparation. It's a hard thing to hear, but it's true. Sometimes the situation just doesn't. Just doesn't count for a firearm. Some places won't let you carry one anyway, but that doesn't mean you walk in unarmed. The burner launcher is a non lethal self defense tool that gives you real stopping power without taking a life. It is legal in all 50 states. If you're over 18, you can get one looks like a handgun, feels like a handgun, but it fires kinetic projectiles like chemical irritants like pepper and tear gas. It is legal in all 50 states. If you're over 18, you don't need registration or anything else. You just order one online, they'll send it right to you. It is the option between do nothing and go too far. If you've ever found yourself in a moment where the action is required, this is what you want. A burner launcher by R N A.com Beck Burna.com Beck now back to the podcast. You're listening to the best of the Glenn Beck Program. Well, my gosh, what a great moment for all of women kind yesterday. One giant leap for women, wouldn't you say, Stew? For womenkind?
- [19:12]
Stu Burguiere
Yeah, it was impressive.
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Glenn Beck
Jeff Bezos, who's just all jacked up. He's just all jacked up on some kind. I don't know what, but I have sex with my babe. He's a little disturbing. Yeah. But if you see my rocket ship, it's. It's made to look like one of my private parts.
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Stu Burguiere
Really. It is. By the way, it does look phallic.
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Glenn Beck
You know how much thrust it has. So he, disturbingly, was at the launch of the giant phallic symbol yesterday, and I put women in the hero. And so he had women. Some. Just some great, great women. He. He put in his. His lover. She's a what? So she was in there. And then. And then you had Katy Perry and Gayle King. And.
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Stu Burguiere
Can we, can we focus on one little thing that bothered me from the coverage of this other than the fact that it was covered at all?
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Glenn Beck
Yes, but my girlfriend isn't usually covered.
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Stu Burguiere
It's an interesting Bezos impression you've got working here.
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Glenn Beck
I mean, doesn't he look like he's just about out of control with all of the steroids that are raging through him?
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Stu Burguiere
Yes.
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Glenn Beck
All right.
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Stu Burguiere
Anyway, it does feel like there's a. There's something. I feel like it's one of those, like, not quite in gnc, but near GNC supplements. Like there's a GNC and then there's also a stand outside of it that's not related to gnc, but selling similar products that might not be legal. Like, I feel like that's where he shops. I don't know. I could be wrong.
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Glenn Beck
I'm not sure.
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Stu Burguiere
We don't know, allegedly.
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Glenn Beck
So I Get my steroids the same place that my main squeeze gets all over plastic.
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Stu Burguiere
They kept calling these women the crew. I'm sorry, what did Katy Perry do on this flight to be considered crew? Am I, Am I on the crew?
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Glenn Beck
Every time, what she did to get on.
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Stu Burguiere
Let's not talk about that because that could be a whole other story. But like when I'm on an American Airlines flight to Des Moines, am I on the crew?
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Glenn Beck
No, you're not just sitting there. You're not the crew. You're a passenger. You're a passenger, right? Yeah.
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Stu Burguiere
So I don't think necessarily the crew is the right way to say it's an all female crew. Is it?
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Glenn Beck
Do we have any of the audio of the. Of the. Those are like the guy parachutes just.
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Producer
Free falling right there until those drugs came out.
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Glenn Beck
This screaming could be the main parachutes that get pulled out. That screaming inside the capsule, it's very soft. Oh my gosh. That is embarrassing perception.
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Stu Burguiere
There it is. Are they screaming out of terror or is they screaming out of like, you know, roller coasterish joy?
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Glenn Beck
Who cares? I'm gonna have sex with that woman. I don't really. I don't know. I don't know. But it, it's not a good look. It's not a good look now. His girlfriend said, everything is so nasty and so vitriolic nowadays. I mean, if everybody could experience that piece that we had up there, the kindness and what it takes to do what we did, the very world would be a better place. Uh huh huh. Gayle Queen Gayle King said, I'm so proud of me right now for the courage.
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Stu Burguiere
What?
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Glenn Beck
What?
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Stu Burguiere
She's proud of me?
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Glenn Beck
Yeah, we have that. Go ahead.
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Producer
But the best part was when we got back in our seats after zero GS Katie sang what a Wonderful World.
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Stu Burguiere
She did.
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Producer
She's saying, what wonderful work. I see dreams. Oh, yes, yes, yes.
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Glenn Beck
Oh God.
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Producer
Because we'd been asking her to sing all the time and she wouldn't. And she wouldn't. And then because everybody said, sing roar, sing fireworks. And she said, it's not about me. I wanted to talk about the world.
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Stu Burguiere
I'd be praying for this thing to crash into a mountain on the way down. If I was on that thing, I would be. I would be hoping for it to burn up in the atmosphere. Oh God, please don't sing again. Katie.
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Glenn Beck
Yeah, we missed the part of her actually saying, I'm so proud of me right now because it took so much courage.
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Stu Burguiere
I mean, I did it.
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Glenn Beck
Well, she was the crew she was probably the captain. She still.
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Stu Burguiere
We know now. She stood up, she sat back down and she heard singing.
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Glenn Beck
Yeah. What else did she do? Not much. No.
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Stu Burguiere
I didn't think so. Again, now, I would say it is brave if we trusted those people to be the crew. Well, then, yeah, it would be very brave to get on that thing.
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Glenn Beck
It would be.
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Stu Burguiere
I'd rather get on.
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Glenn Beck
Harry is like my co pilot.
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Stu Burguiere
Right, Exactly. I'd rather get on a submarine to the Titanic. So.
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Glenn Beck
In an experimental small little sub.
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Stu Burguiere
Yeah, I think so. So I don't. I mean, I guess there's some bravery if they actually were responsible for anything, but I think they were just passengers.
- [25:03]
Glenn Beck
Yeah, I think so, too. Okay, you have some more video here, Flynn.
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Producer
I got you. I got you. You guys, I don't have to tell you.
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Stu Burguiere
Look at the moon.
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Glenn Beck
Look. Wow.
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Stu Burguiere
Look at the moon.
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Glenn Beck
Who's that woman? She's not even from the Bahamas. She's not even mentioned in the other story. That's amazing. Or her. That's amazing.
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Stu Burguiere
It's a butterfly.
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Glenn Beck
Oh, that's really. That's really cool. So you have. You have that going.
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Stu Burguiere
I'm sure it's a cool flight.
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Glenn Beck
I'm sure it was.
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Stu Burguiere
I'm like, it's a cool ride. It's like going, you know, I'm sure it's on. It's like an amazing roller coaster. Well, you know that necessarily, we should have been hearing about it at all.
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Glenn Beck
I think Katy Perry said it best when she said, and I quote, I wanted to model courage.
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Stu Burguiere
Oh, my God.
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Glenn Beck
And worthiness and fearlessness. I feel really.
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Stu Burguiere
She wanted to model worthiness. These are not like. These aren't even sentences. I wanted to model worthiness.
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Glenn Beck
She. Was she worried of that?
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Stu Burguiere
God, society is. Yes, yes.
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Glenn Beck
She was more than worth. She said, I feel even me.
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Stu Burguiere
Well, I'm sorry, what does this mean? Can we just dive into this? What does it mean to model worthiness by taking a flight as a celebrity into a spaceship? Somebody just let you get on.
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Glenn Beck
She.
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Stu Burguiere
How does that make you.
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Glenn Beck
She had to.
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Stu Burguiere
She was worthy to. She had a passenger on a ship.
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Glenn Beck
Yes. She had to work to become famous so she could get on that ship that nobody else can because she's super.
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Stu Burguiere
Famous and because of her mediocre singing that she can get on a flight owned by the guy who delivers all.
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Glenn Beck
Of our pet food. Yes. Now, she went on to say, and this is where her worthiness comes in. She says, I feel really connected to that strong, divine feminine right now in.
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Stu Burguiere
The ship that looked like a Giant penis that a guy built.
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Glenn Beck
We're gonna be so connected tonight. All right. Okay. Yeah. So that's. That's great. I think they were all very worthy of that flight. I mean, I have no problem. He wants to give the flights away to people. Yeah, totally. I mean, I'd love to. I would go, but I wouldn't come down going, I was so worthy. I was so worthy and so brave. So brave. I think I model worthiness. Worthiness and bravery. I wanted to model that. That's why I was up. You know, when we're up in the air, I was going. I was. That was good. That was good. Is this.
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Stu Burguiere
I honestly ask you this question.
- [27:47]
Glenn Beck
Yeah. Okay.
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Stu Burguiere
Is this in any way a newsworthy event now? Look, it's an achieve.
- [27:54]
Glenn Beck
Shooting.
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Stu Burguiere
Wait a minute.
- [27:55]
Glenn Beck
Wait a minute, Wait a minute, Wait a minute. Shooting celebrities into space. Yeah.
- [28:01]
Stu Burguiere
If the thrusters kept going. Yeah.
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Glenn Beck
It's like, you know, we're just shooting them into space. I think that's very newsworthy. We're halfway there. We just shouldn't return them.
- [28:10]
Stu Burguiere
So this was a test flight. Eventually, we'll just start picking celebrities to launch into the sun.
- [28:14]
Glenn Beck
I hope.
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Stu Burguiere
I just. I don't. There's been tons of people who have done this. This was like, sort of like, quote unquote space. Right. Like, it was like a really. I mean, I'm sure it was impressive. It would be really fun to go on, I'm sure. But it's, like, great. It's just a big, high flight. Like, it's not. It wasn't like, anything that hadn't been done before. Right. Like, wasn't. There was no.
- [28:36]
Glenn Beck
I know.
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Stu Burguiere
I guess just the fact that they put a bunch of people with vaginas on the flight, that was the big, notable thing.
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Glenn Beck
Big thing. That's a big thing. Yes.
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Stu Burguiere
Is it notable?
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Glenn Beck
Do we care about that? Yes.
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Stu Burguiere
Why?
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Glenn Beck
Because. Because. Because they be. They don't represent mankind. They represent womankind. One big step for. One small step for women. One large step for women kind. That's what happened yesterday. If you don't think that's newsworthy.
- [29:09]
Stu Burguiere
Well, I just feel like this was just Jeff Bezos looking to hook up with a bunch of people. And we were all like, let's watch it on. I mean, he put a bunch of people that he wants to sleep with on a penis.
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Glenn Beck
Yeah.
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Stu Burguiere
And threw up to sent it into space.
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Glenn Beck
I mean, it's. Honestly, it is like a Austin Powers movie. It really is like what you would see in Austin Powers and everybody would laugh and he's doing it and we're all laughing. So, you know, God bless you there, Jeff. That's.
- [29:40]
Stu Burguiere
I mean, for him, I got. No, look, he's a guy, he does whatever, whatever he's doing, you know, I mean, there's been questions about his personal life and maybe the supplements he's taking, however, like, hey, you got a bunch of money, this is how you want to spend it?
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Glenn Beck
All right, that's totally fine. I mean, you know, I know.
- [29:58]
Stu Burguiere
Impressive technology, obviously, it's, it's not, it's not industry leading technology.
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Glenn Beck
No, it's not.
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Stu Burguiere
It seems like it's like third or fourth place technology, but still better than I could do.
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Glenn Beck
It's the best way to pick up women, though.
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Stu Burguiere
But it seems like you want to go ride in my spaceship, I gotta say. To pick up women?
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Glenn Beck
Yeah.
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Stu Burguiere
Well, there's got to be, there's got to be something easier than sending them into space.
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Glenn Beck
Jeff Bezos.
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Stu Burguiere
Yeah, I mean, I just, I, I just figured these supplements could help.
- [30:24]
Glenn Beck
His girl, his girlfriend doesn't look cheap, does she? Yeah, it doesn't look like. That's not a cheap date. That's happening right there. That's a. You're paying in all kinds of cash for that, for dating that. Anyway, there is one other piece to this Bezos. As he's going to get his, his hot babe out of the capsule. Here's what happens.
- [30:48]
Stu Burguiere
We love being able to share this experience with you and thank you for sharing.
- [30:53]
Glenn Beck
There's Bezos there.
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Stu Burguiere
How you feel out here with our audience.
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Glenn Beck
He's looking, he's running around.
- [30:58]
Stu Burguiere
Really incredible. So, yeah, that was a, that was a Biden esque fall. Yeah, I keep hearing he was he face planted, which he sort of does, but he does like it was a slow descent to the earth with Bezos falling there. It was like a fall onto the knee, onto the chest, onto the face. And the hands don't really get there in time to stop it.
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Glenn Beck
And that's kind of amazing because he looks like he's in shape, right? Yeah.
- [31:26]
Stu Burguiere
I mean, considering, you know, all the time he seems to spend in the gym these days. You'd think, I mean, because when Biden fell off the bike, it reminded me of that. Remember how slow that happened? It's like he's seeing this coming. Right. We had full conversations in the time when it went from the bike standing up to the bike being on its side.
- [31:42]
Glenn Beck
You know, you should put your leg down. You're gonna fall. Yeah, you're, you're falling. You should, you should do okay There it is.
- [31:47]
Stu Burguiere
Oh, there it is.
- [31:48]
Glenn Beck
You're listening to the Best of Glenn Beck. Need a little more? Check out the full show podcasts anywhere you download podcasts. Welcome to the Glenn Beck Programs. We're, we're so glad to have you join us today. It's tax day, and our taxes are only going to get worse and worse and worse if we don't control our spending and inflation. I was looking at the. The budget deficit in 2019. Just listen to, just listen to this. The 2019 deficit. Or let me see if I can find exactly what I was talking about. Yeah. $2.7 trillion for. In 2019. $22.7 trillion, inflation adjusted is 3.3 trillion today. Excuse me. Wow, that's a.
- [32:45]
Stu Burguiere
Happens fast.
- [32:45]
Glenn Beck
Wow, that happens fast. $600 billion difference.
- [32:50]
Stu Burguiere
That's your Biden inflation era.
- [32:52]
Glenn Beck
Yeah.
- [32:52]
Stu Burguiere
Right. That's all that.
- [32:53]
Commercial Announcer
Yeah.
- [32:55]
Glenn Beck
I mean, that says a lot. Says a lot.
- [32:59]
Stu Burguiere
It does. And what's fascinating is what's the cause of all of that? Well, at least a lot of it was spending.
- [33:04]
Glenn Beck
Spending. Right.
- [33:05]
Stu Burguiere
Giant and multiple new bills. I mean, Biden authorized about 4 to 5 trillion dollars of new spending when he was in office. They went for it, remember, like, this was not a. This is not a. You know, remember, Biden was brought in as like a return to normalcy. And we're sane people. We're not going to go crazy. We're not gonna be aoc.
- [33:27]
Glenn Beck
Right.
- [33:27]
Stu Burguiere
Remember, he was going against Bernie Sanders. We're not gonna be like Bernie Sanders. Well, then he was just like Bernie Sanders and did all the spending and really went for it. And we brought this up before, but I just don't understand why Republicans aren't looking at every single dime spent and saying, absolutely not. These crazy bills that were passed, we can overcome them. We can reverse them.
- [33:52]
Glenn Beck
Trump cannot.
- [33:53]
Stu Burguiere
Trump can't buy himself. No, I'm talking about the reconciliation bill that's gonna go through Congress, which has these tax cuts. And part of the trick, as you've mentioned before, is they say tax cuts, but what they mean is making the current tax rate permanent.
- [34:07]
Glenn Beck
Yeah. It's not a tax cut.
- [34:09]
Stu Burguiere
It's not a tax cut.
- [34:09]
Glenn Beck
That's not what the American people voted for. No, Donald Trump said tax cuts, and everybody interprets that as an actual cut to the taxes I'm paying, not a. Not an extension of the same tax I'm paying into the years going forward. We want a tax cut.
- [34:31]
Stu Burguiere
So these are the two things the right are talking about right now, apparently, which is one, make Trump's previous tax rate, the ongoing tax rate permanent, which.
- [34:42]
Glenn Beck
Again, it won't do enough would be.
- [34:44]
Stu Burguiere
Better than raising it to the former race, but it's not enough.
- [34:47]
Glenn Beck
Good enough. With the tariffs you have to make, you have to attract people to start businesses and bring businesses here by actually giving them the most competitive tax in the world.
- [35:01]
Stu Burguiere
Right. And of course, obviously, when it comes down to prices, you have tariffs are attacks. Right. Like so you already have that. That's a little bit of pain, as Trump's talked about. So you need to be able to alleviate that pain. Not by making the current rate go on. That's not gonna alleviate any of the pain. The other proposal by the right seems to be making the tax rates permanent from the Trump tax rates, except for the highest bracket, and returning those to the old rates.
- [35:27]
Glenn Beck
That's insane.
- [35:28]
Stu Burguiere
If those are the two proposals, we're in serious trouble.
- [35:30]
Glenn Beck
We're in real trouble.
- [35:31]
Stu Burguiere
Part of the problem here, though, to be fair, is scoring this bill when it goes through this entire process, the reconciliation process. The reason why you need that is because you don't have to get 60 votes in the Senate. So you have to go through this reconciliation process to get this passed. So you only need 50 votes, which the Republicans have. The problem with that is it has to have. It has to be a situation that lowers the debt, the deficit on the country. Right. So that's the rule, to only have to do with 50 votes.
- [36:00]
Glenn Beck
I have that answer.
- [36:01]
Stu Burguiere
Okay, go ahead. Well, I mean, my only point here was going to be what they're say. What the way this gets scored. Right. Is that they say the keeping the rates permanent is a cost because if we didn't change the law, the rates would go up and we get more money from taxes. That's how that's scored. Which to me is unfair and ridiculous. But when you can dive into these programs that Biden has passed and authorized a bunch of spending, much of which has not gone out the door yet.
- [36:35]
Glenn Beck
Yes.
- [36:36]
Stu Burguiere
You can go in there, cut, slash all of that stuff.
- [36:39]
Glenn Beck
Yes.
- [36:40]
Stu Burguiere
And make all sorts of savings against those BS Cost increase.
- [36:46]
Glenn Beck
Yeah. I mean, I feel like Jeff Bezos. No, I have sex with that idea. But yeah, that's. That is the answer. Okay, so you gotta say, okay, well, I can save you a lot of money. How much was the, you know, Inflation Reduction act, which Biden is on record saying it had nothing to do with inflation, had everything to do with global warming. Well, the president doesn't believe in that nonsense. The Congress doesn't believe in that nonsense. The Republican Senators don't believe in that nonsense. Why aren't you just cutting that? Yeah, and because most of that has not gone out, a lot of it.
- [37:25]
Stu Burguiere
Has not gone out. And the way, again, these things get scored is if the money is expected to be spent and you say now it will not be spent, that is a good improvement on your scoring. Like it's going to help you get across the finish line. And what they would say, pay for the tax cuts, terminology I despise more than anything in the world, but pay for the tax cuts, you have to be able to get that thing to score out appropriately. Republicans are flirting with an idea which I think is the sane idea in reality, which is, hey, well, we're, this isn't costing us anything because we're just keeping the rates the same. That is not the way that's typically scored. And we don't know how that will work in the courts. Seems like they're trying to do that and it would help them become more aggressive with rate cuts. But like, you need the aggressive rate cuts. The tariffs may help as well, by the way, with the scoring process, which is one of the reasons it's been rumored that they're doing them now. I don't know if that's accurate. I kind of hope it is, because if it's just a scoring mechanism, maybe they go away. We will see on that one. I don't know. But in theory, if these tariffs are bringing in a bunch of money, they could say, well, if they put them in a bill, they could theoretically get the expected savings from that, expected gains from that as far as revenue, and you could offset that with cuts. That would be a positive way that this might play out.
- [38:50]
Glenn Beck
So let me just, let me explain something on how things work, okay? When people say, you know, we tax cuts, that's only for the rich. First of all, that's not true. Second of all, because the really, really, really, really. You think George Soros really is paying any taxes? No. Why? Because he's not making an income. So income tax doesn't affect him. Okay. He's living off of, off of his capital gains, which is what, 15, 20%? I don't even know 15 or 20% capital gains. Okay? He's not, he's not paying 50%. So the Uber, uber rich, they're not paying it. And if you don't like that, then you have to change the law and make capital gains over a certain amount income. But that's the way the law is and that's never going to change. Why? Because the rich are all powerful and will call up every friend and every favor they have and say, don't let that pass. So they're not. That's not affecting them. Who is it affecting? It's affecting the people that might have a million dollars. Okay, now, you think that's a lot, but if you're a businessman, that's about what it takes to. To run a business. You've got to have the money to be able to open up the business, start the business, and hire people. Okay. Um, those are the people that are going to be hurt. Those were the people that were hurt during COVID All of your local employers that were struggling to make ends meet might have had a business that was doing a million dollars. That doesn't make them a millionaire. That means their business is doing about a million dollars. And they're still living on the edge even though they own a business and everything else. But they're the ones who hire people. If you cut their taxes, then they can hire more people and expand their business. And if you cut their taxes along with the lower, you're going to have people that can buy those products, go to those restaurants. So what happens? Well, it's not that we just lose money because they're not paying their fair share. No, you're expanding the base. For every dollar that they are not spending, going to the government, they're probably going to spend it on their business to enhance their business, grow their business. Which means they will hire more people. And those people now share the burden. By paying taxes, you end up making more, not less, if you grow your way out of it. This is Donald Trump 101. He knows all of this. So why it's not happening, I don't know, but he knows all of this. So you get more jobs, more tax revenue is collected. When you spend less, you incur. Just think of the United States as a somebody coming into a bank for a loan. You going into a car dealership to get a loan. If Your credit is 400, you gotta get a loan. Maybe it'll be hard. And what'll happen? Your interest rate will be through the roof. We are somebody that's walking into a car dealership with bad credit. We spend more than we make. We don't look like we're good for it anymore. We're on the decline. They don't believe we're going to get another job. They see their numbers. Okay, you want us to take that loan? Well, we lose a lot of banks like China and Japan and Germany and everybody else that was holding our Treasuries. China in particular is dumping. So we've lost our biggest bank because we don't look dependable. So when you go in and you really reduce your spending, all of a sudden the world says, oh, well, they're serious about fixing their problem. If you do just one of these things, tariffs, cutting spending or taxes, it's not going to solve your problem. But cutting spending is the only one that will make people go around the world, oh, looks like they're serious this time. If we cut taxes, we cut spending, and then we cut regulation. Well, we have to have regulation, do we? How much regulation is enough regulation? Because for everything that is set into regulation, that means every business, every person has to file more paperwork. You have to have more attorneys. You have to have more people in between you and the. The thing you're trying to accomplish. Time is money and money is money. I gotta spend money on attorneys to make sure I'm in compliance with everything. The more attorneys I hire, the less regular people I hire. And I don't know about you, but I think America has far too many attorneys. Attorneys don't build anything. Attorneys are the no police. They are there to say no. So you don't get into trouble. If you leave things up to an attorney, nothing's gonna happen because they just view the world differently than creators. The creators come in and they need good attorneys. But you don't want a buttload of attorneys because now you're outnumbered and they're gonna say no, and you're spending all of your money on attorneys. That's not a good. That's not a good idea for any business. And what is Congress? It's filled with attorneys. So we cut the regulation. That means I have an easier time to accomplish my goals as a small business person. I can start this because I don't need million dollars, millions of dollars just to get through all the regulations, all the hurdles that the government is going to do as a small business person or a big business person, if. If I'm a country that has to deal with more regulations than any other country in the world. That's why Europe is dying. You want to go, Go ahead, wrestle through their regulations. You'll never get anything done. We're becoming that. You have to cut that. Then you cut the taxes on everybody, you cut your spending, and then you have tariffs. That's the package that Donald Trump was talking to us about. He's done what he can do. It's now Congress's turn to go in and just return us to the spending of 2019. What's the problem with that? Why is that so controversial? Return us to the spending of 2019.
- [45:48]
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