PBD Podcast - 70% Chance Biden Finishes His Term | PBD Podcast |EP 50

Episode Date: April 1, 2021

Patrick Bet-David Podcast Episode 50. In this episode, Patrick was joined by Byron Udell & Adam Sosnick to discuss the odds of Biden serving his whole 4-year term, the lack of conservative views in social media, and much more. Here's the link to watch the full episode: https://youtu.be/WsB11DZr2sc --- Support this podcast: https://podcasters.spotify.com/pod/show/pbdpodcast/support

So I will lie that's all I need to know we are live episode number 50 with our friend Byron Oudell here My man 50th episode Byron is back. That's a big number Byron last time you were on people loved you, okay? Now, I don't know if it was the looks because it used to be a model before I don't know if it's the brains because you're brilliant I don't know if it's because you're very good at debating and you enjoyed. I don't know if it's because you're mathematics I don't know why but people loved you and it's at debating and you enjoy it. I don't know if it's because you're mathematics. I don't know why, but people love you and it's good to have you back. Thanks.

And back by popular demand, Byron, you do. Yeah, and by the way, if you're listening to this, usually when we do the podcast, we go through the notes, right? We'll get together, we'll go through the notes. And yesterday, every single point, I'm just trying to get to the point. He's not letting me. No.

What do you think about this? How can this even be possible? I said Byron, today's not the point. He's not letting me. No. What do you think about this? How can this even be possible? I said, Byron, today's not the podcast. It's Tom. I want to talk about it right now. We got to talk about this right now. So then we go to dinner last night. Oh, dinner is ridiculous.

If there was a camera at the show, the life insurance industry would have enjoyed it if you would have listened to it because, you know, you got a self-made guy here, Adam, who's done a great job with life settlement, which Byron's a big fan of it. You got a Byron, Byron Nudelle, who's built a company called,

I could quote, good $50 million company that you run out of Chicago, based in Chicago. He's raised incredible kids. I mean, there's a lot of things we can talk about. I'm gonna stop bragging because I'm done with my limitation. I told you, my compliments are done. I'm done with you as well with my compliments.

So tell us how you doing. So great. Oh, except for my torn MCL, but other than that, yeah. Torne MCL. That's what happens when you go down the hill. 73 miles an hour at 59 years old. It's skiing. It's what happens.

Yeah. It's what happens when you have multiple places and ask it and you're skiing, you're going to get any injury. It's great to have an extremely strong conservative in the house, right? Can I read you guys something crazy before we get started with today's podcast? Of course. So my dad sends me to Seemal every once in a while. I get a weird email from my dad.

Have you ever met his dad, by the way? Yeah. My favorite guy. Yeah. So I get the Seemal yesterday and it's about Walmart versus morons. Have you read this or no? Okay, so dad, if you're listening to this, this is shout out to you. So he sends me this email. I said, I got to read this on the podcast this Thursday. So Walmart versus

the morons, right? American spent $36 million at Walmart every hour of the day, 36 million every hour. This works out to be 20,928 profit every minute. Walmart will sell more from January 1st to St. Patrick's Day, March 17th, then target sales all year long. Walmart is bigger than Home Depot, Croger, Target, Sears, Costco, Kmart, combined. Walmart employs 1.6 million people in the U.S. largest employee in the world.

Walmart is the largest company in the history of the world. Walmart now sells more food and crogrer, safe way combined and keep in mind that they did this only in 15 years. During this same period, 31 big supermarket chains, saw bankruptcy. Walmart now sells more food than any other store

in the world. Walmart has approximately 3,900 stores in the US, of which 19 or six are super centers. This is a thousand more than it had five years ago. This year's 7.2 billion different purchasing experiences will occur at Walmart stores, births population roughly seven billion. 90% of all Americans live within 15 miles of Walmart.

You may think that I'm complaining, but I'm really laying the groundwork for suggesting that maybe we should hire the guys who run Walmart to fix the economy. This should be good. This should be read and understood by all Americans, Democrats, Republicans, and everyone. President Biden and all 535 voting members of the legislature, it is now official that the majority of you are morons.

Now, whoever wrote this article, wrote this article, this is not me writing it, I'm reading it, right? The U.S. Postal Service was established in 1775. You have had 246 years to get it right and it is still broken. Social Security was established in 1935. You've had 86 years to get it right and it's still broke. Fannie Mae was established in 1938. You've had 71 years to get it right and it's still broke.

War on poverty started in 1964. You've had 57 years to get it right. $8 trillion of our money is confiscated, each year and transferred to the poor, and they only want more. Medicare and Medicaid were established in 1965. You have had 56 years to get it right, and they are broke.

Freddie Mac was established in 1970. You've had 51 years to get it right, and it is broke. The Department of Energy was created in 1977 to lessen our dependence on foreign oil. It is ballooned to 16,000 employees, a budget of $24 billion or you're in a very important, more oil than ever before. You've had 44 years to get it right, and it's still an abysmal failure.

You have failed in every government service. You have shoved down our throats while overspending our tax bill. And you want Americans to believe you can be trusted with a government ran healthcare system. Folks keep this circulating and then it goes into this whole thing, right? You read this thing, you're like, what an interesting point to be making. Forward that to me. I'm going to forward it to you.

You should. I have no idea who it is. My dad just sent it to me. I'm like, I'm going to read your dad wrote that. Well, I mean, we saw the last president was the first business president, really, when you think about it, I mean, most presidents were politicians for a long time. They'd never run a business. I mean, Obama never run a lemonade stand. Nothing, you know, I mean, not even eliminates. No, I don't think so. Got it.

So, you know, I mean, in terms of understanding how things work and understanding how you're going to run something big, if you've never run anything big. And we talked about this in the last podcast, that's why usually it was governors in the past until recently they got elected to president because the people instinctively knew that governors actually run something. I mean, it's not, they may not be efficient

because the states aren't all that accountable either. They can't print money like the feds, but they have to run something. Where you're a senator, what do you do? I mean, you don't have to do anything. You can just be called elected senator and not, you just show up and vote yes or no. You don't have to actually sponsor bills.

You don't really do anything. You're running a staff of three, four people maybe and what do they do? Nothing. I mean, they don't have to do anything. So people know that and they don't have a track record having succeeded or achieved anything. And so people tend to want someone who's actually done something and run something and shown they can do it.

But a business is a whole different ballgame, as you all know. And so having people that so you don't think a senator qualified to be a president. What you're saying? Not necessarily. No, I don't think so. Okay. Who's the best president we had that was a senator before? Like before last one we had before recently before Obama was Kennedy. Showing Kennedy you wouldn't say was qualified to be a president. Uh, he had well, I mean his family was in business so I mean you know he may be a little bit but it's hard to say he was president long enough. I mean he actually showed fairly well in terms of when he was under pressure he did it pretty decent.

What do you think about reading this? What do you think when I'm reading this? How do you process it out of yourself? By the way you were a lot more fired up last night. You seem very poised today. You seem like you brought your BET midnight love. This is Byron Udel, ladies. What music would you like me?

If you would have heard Byron yesterday, we got to get out of the restaurant. I think we almost got to push up contest. We got to push up contest. Hey, by the way, cook shout out. We did a push up contest. Impressive. I respect. I respect.

I respect. I respect. I respect. I respect. I respect. I respect. I salute him on the push up. 60 right around 60. Right on give or take after 60 don't come. And just what do you think about what I just read? I don't really have any objections to it. I mean, it's hard to object to all the facts right there. And big bloated government, obviously, whether you're the Democrats or Republicans have just been spend, spend, spend, spend, spend, spend, you know, zero. It's actually not a democratic thing or republic.

No, exactly. Because they've done it on both sides. Yeah, so both overstepped. The question is, do the Sam Walton kids, any of the Walton family end up here in this and say, all right, sign us up, bro. We're here to help. Do you think they won that life? No, I don't think they won.

They won. 40 to 50 billion a pop. What are you going to do? They're 70 billion a pop. Yeah. But not even a little bit. Historically, when we've tried to goose the business leaders to go into politics, they're like, no, thank you.

You know, remember, Leahy Cocoa, back in the day, he comes back. Chrysler. Takes on a total mess in Chrysler, turns it around, or Bob Ben Moshet, the AIG, I mean, talk about that. That's a big hero. Talk about an unbelievable turnaround. I mean, just I thought, my God, this was 20% of our business back in the day It takes 183 billion out gives it back with 21 billion five years later. I mean, I thought they were Dodd I thought they were cook their name was toxic and then they invited us to the to

The it Kioa they invited said do a dog and pony show and Napa is that the Napa? No, no This is a car. It's Georgia. Oh, okay. Yeah, I thought, you know, they're going to pay for a trip to Kio. I'll listen to their crap. But what am I going to hear? Right? He gets on stage. I'm like, my God, they might turn it around. I mean, this guy was magic. I mean, he was you by the way, this entire time when he brought him back, he's on his deathbed. He's got cancer, he's taking shots, and he's got two years

to live. And that's when he brought him back. And he said, look, I'm living in Croatia, the brovnik. I'm by my vineyard. I'm enjoying my life Right, I have my girlfriend. I have all the stuff that's going on with me. I have no desire to do it They sell them because he was a former CEO of MetLife He says I'll come back. He says but it's a 10 million out of your size as we can't afford to pay that says listen I'm like a expensive prostitute. I'm very good, but I'm expensive you want to pay to 10 million I'll come back if not I'm not coming back They said we'll pay to he came back and I'm I'm not gonna move the everything and then Gordon Bethune in continental airlines Yeah, these kind of people

Transformation leaders. They're they're very very rare and they don't go into politics does not attract our best and finest What do you think it is that for someone I mean, I know we're going to. By the way, is his volume down or is it his voice that's down? His volume is up. Okay, so maybe they need to turn it on. You got to raise your voice a little bit because the audience of San De Cane here you. Okay, what I know that we're going to obviously get

the topics, we have a lot of stuff to cover today, but back to. This is a special 50 that we've got a body here. And it's April Fool's Day. I don't know what we got up our sleeve. Well, the moment you said it is too late. I mean, we can no longer pull a prank Why would you ever say it's April fools day before? Adam you're a comedian. You know this stuff better than I do okay? Well should I cancel the Mary

I should not what do I do on my April fools? Jesus well, I think people understood that it was April fools But what about the new people that are gonna come they don't know about it, but go ahead Okay, forget about those people scratch up for theth, but what I, well, the new people that are going to come, they don't know about it. But go ahead, tell us. Okay, forget about those people. The scratch out for the record. But before we get into things, uh, speaking of Bob, Ben Moshe, um, what is it that would inspire someone who has maybe some, I don't know if he was terminal or whatever the situation was to say, screw it.

I'll come back, Pammy, what I want, yeah, $2 million a year. I'll work for two years. What. What inspires a guy to do that? When you've already made your million, just to thrill the chase. You're living in it, just some people to see. Is it legacy, what is it that inspires someone who's already made their money? To say they said there's only one guy that can fix it.

Yeah. That's the recruiting interview. Bob, we think there's only one person that can fix this and it's you. We need you, okay? I mean, it's a different recruiting style. I didn't know of him before. Did you know of him before?

He went to IIG. He's a legend I met life. So I didn't know that. Yeah, he was a legend. Yeah. You know, Joe, yeah, he was a legend I met life. So people knew of him, those who work with them that left my life on one everywhere else,

they said this guy was not a guy that fooled around. He was a guy that knew products as well as he knew how to run a business. Anyways, shout out to Bob Ben Moshet. He wrote a book about his history, what happened with him. When he died, on one end, he was holding a hands of his wife. On the other end, he was holding a hands of his girlfriend. This guy was a very unique character.

Yeah, admired leader, very interesting guy. He was one of those guys, if you were in the room with him, you could feel the greatness. Is it like Arnold Palmer or some people just have that aura about him? No question. He's one of those guys if you were in the room with them, you could feel the greatness. Is it like Arnold Palmer or some people just have that aura about him? No question. Halo around him. No question.

I got a chance to meet him actually. Yeah. These are beats. Okay. So let's get into it. We got a lot of stories today. Yes, folks, if you're watching this, if there's any specific topic you want us to cover, go to Twitter, tweet out at a hashtag P.B.D. podcast, hashtag P.B.D. podcast, I post the question already.

So if there's anything you want to ask, put it there, we're looking at it, guys looking at it because when you put it here, question some of these things flow up and then we don't see them, but if you put it on Twitter, we can go look through them and all the questions will be there. Make sure you put the hashtag P.B.D. podcast. If this your first time being on and you think you already are a subscriber to Vitamine, this is Navi timning. This is pbd to pbd podcast smash that subscribe button and notification So when we go live you can join us and if you just got on push that thumbs up button to help us out with the algorithms Let's get right into it a lot of different topics that we got to cover

Goldman Sachs just announced they are gonna be offering Bitcoin second quarter 2021 which is pretty insane to hear Goldman Sachs saying we're going to be offering Bitcoin to our clients Q2 of 2021 H&M under attack in China sticks to stance that angered Beijing Wells Fargo aiming for employees to return to the office in September Elon Musk donates tens of millions of dollars to Texas schools and he wants top talent to meet him in Brownsville Texas out of all the places, but that's exactly what he wants. Tesla and Toyota are in a restarting a SUV partnership.

Volkswagen just hoax the hell out of everybody and we'll cover that where they came out and say we're going to be Volkswagen. We'll talk about that. It's hilarious. That is beautiful. And of a COVID era, Delta to stop blocking middle seats on May 1st, pending home sales fell over 10% in February as record low supply stifles the housing market. Pfizer officially says that their vaccine is 100% effective.

Saving kids as youngest 12, Byron's got some thoughts on that. The new tax plan by Biden, that's just uh... insane and by you know but byron's gonna break down on a way where yesterday even at and had a at and had a unique moment when it was unpacked aoc says two point two five trillion dollars isn't enough it should be ten trillion dollars so even the dems are going at a little bit about who should pay taxes how much taxes should be

how much the budget should be russian hackers told thousands of emails from US State Department. I mean, what's news? You know, that's been happening for a while, but they did it again. NFL to expend to 17 games in a proper SpongeBob episode gets pulled by streaming services. We've had a few people that were very heartbroken by that. Matt Gates had an issue that happened with him. I don't know if you heard about it with a 17-year-old.

And in Trump's interview that was taking out my Laura Trump on Facebook, Facebook, just say they took it down. Kai, were you able to find that article and a couple notes on it? Did you print it out or you got it on the website? Okay, we'll cover that as well. Let's go into pending real estate home prices falling 10%. Patient number 40. Actually, that's actually wrong. It's pending sales went down because the inventory's down. Yeah. It's not the, the, the, the, I'm going to the article. Okay. Let me read it. By the way, just real quick, uh, Tiger Woods, we talked about that yesterday. They're just making a quick little note about that.

If you want to, Tiger Woods, uh, oh, yeah, yeah, yeah, yeah, the documentary. Absolutely. We'll, we'll, we'll tee up on that as well. Okay. So let's go through. I'll read it to you by, and then do me a favor, destroy the article if you want to. Do whatever you want. For a buyer, it comes to me.

Do me one favor. Get fired up. Yeah. Get all up in the mix. You just did 50 pushups of Pat. Get fired up. Come on. So let's go through it. All right. Pending home sales fell over 10% in February as record low supply stifles a housing market article by CNBC. Kai. How's the market suffering? It's lowest supply in history as spending home sales, a pending home sales, a measure of sign contracts on existing homes fell a wider than expected 10.6% of February compared to January. There were just 1 million, 3, 1 million 30,000 homes for sale at the end of February, a 29.5% drop compared with February 2020.

That is the largest annual decline ever in the lowest supply on record. Home price above $250,000 have seen the most active sales, but home price above $500,000 to less than a million are starting to see the same low inventory problems. The recent rise in mortgage rates does not appear to be affecting home buyer demand that much. The average rate on a 30 year fixed loan started the year, below 3%, and is now 3.45%. It is still low, historically speaking, home prices, however, have been climbing.

Quickly, they are up more than 11% from a year ago. Byron, thoughts. Well, if you read that, the first time I read it yesterday, it sounded like, well, home sales are down and the real estate market's down. It's actually... Inventory.

Inventory's down, which is driving prices up. And so what happens is when there's tons and tons of buyers, the existing inventory a normal natural amount of people come to the market in any given month and they they decide it's time to sell their home and they sell their home. We talked a little bit yesterday about new home starts are huge lots of new homes being built the price of lumber got over a thousand dollars per thousand dollars. It goes for people to see it.

The charges for the last 10 years or so in a recent history, it fluctuates between 200 and 400. It's just a commodity. So another was bad time to build a house? Well, it's just an expensive time to build a house. I mean, it may not be a bad time to build a house. I mean, the materials are only the part of the price of building a home. Of course, the contractors as well are charging more because, again, demand is high. So look, it's insane. That's insane, by the way, if you look at the price of a lot more. Of course, the contractors as well are charging more because again demand

is high. So look, that's insane. By the way, if you look at the price of a lot more, that is amazing. Yeah. So 2012, say $200, then it goes up 2013 to around $400, then it goes back down in 2016 to $200, then it goes up to $600 in 2018. Say, briefly, briefly, but back down to $300 and then now it's a thousand dollars the last six months. That's insane. Yeah, it is. It's great. So bad time to build just an expensive time for material. Continue. That's it. I mean, it just is. It's not that, but you know, everybody knows it. If you try to buy a house, it's more than you thought it was going to be. And if you sell your house, it's worth more than you thought it was.

I say that last point again, please. You said it when you try to build a house, build or buy a house more than you thought it was. I say that last point again, please. You said it when you try to build a house. Build or buy a house. It's more than you thought it might be. And the home that you're about to sell is actually more than you're going to get more than you thought. To sell us, Mark, is it complete? It's a seller's.

It's a seller's version. If you can sell, let me put it to you this way. A guy says, I put my house on a market. That article that was going viral yesterday. Guy puts a house on a market within one day gets 65 cash offers. Yeah, I posted that. Yeah house on a market within one day gets 65 cash offers. Yeah, I posted that answer. Yeah, you put that up, he gets 65 cash offers.

My CEO puts a house on a market within 20 farces, he's got a bunch of cash offers. People are in and they ended up overpaying what the value was. Sometimes they're bidding war can insure. The bidding war is going above what the market is and people are selling today with the following contingent on the contract.

Whether the appraisal comes back or not, it's irrelevant. You gotta get the house. So, say you buy the house for a million dollars. You make the offer a million dollars. Cellar accepts it. Okay. Prasal comes back at 900,000 dollars. You still have to buy it out of a million dollars.

That's what's happening. Prasals are typically triggered by a mortgage. Cellars can play offense today like never before. Buyers, you're in a sticky situation right now. I don't know what your thoughts on this. Well, I've been very outspoken that I'm not a real estate guy. I don't, it all depends on your situation and your life.

For instance, I rent and I pump all my money that I make into the stock market. People say, well, you gotta have exposure to real estate and that's why investing reads, and I've invested into crypto, and I've definitely made some money on Bitcoin and all that fun stuff. I just think that owning a house

is one of the more overrated purchases you could ever make. And those people are gonna be out there like, what are you talking about, you're an idiot. Can I say something? I've been trying to tell you, I'm gonna blow my nose. Can you take the camera off my face? It's like, I don't know what to say.

Hello. It's to give you. Go know what to say. No, no. It's to give you. Go ahead. All right, sorry, everybody. So my advice out there, because I always try to break things down, personal finance for the common person out there. Unless you've got a family,

unless you've got kids, unless you're gonna be in the same area for at least five, 10 years minimum, just rent, bro. You know, what I think is the, especially right now with the seller's market, what I think the realtor association whoever did this, the best marketing PR agenda

they've ever done ever was when they came out and they said, rent thing is just throwing money away. Why would you throw money away on rent? And I think it's an brilliant marketing move what the reality is owning a home, I think it appreciates it three percent annually. Stock market over time is between eight and 10%, pending uninflation.

So if you're single out there, what's my, you know, what's your point? If you're single out there and you're just in your wealth building phase, you're just getting a career and you're just kind of getting things going, it's perfectly okay to rent. Perfectly okay to rent, have a roommate, split, split, whatever it is. Do you have a different opinion to it?

Well, if you have a family, I can understand if you want to have a good school zone and you know, people forget taxes, mortgage, maintenance. Like you said, it's more expensive than you thought to build a house. If you're not going to be in there for a while, certainly you don't want to buy if you're going to be gone in two years. I mean, the frictional cost of getting in and getting out and the hassle of having to get out versus just walking around.

People don't know this and they just, I want to buy a place, I want to buy a place. Well, have you thought it, no, I just think it's time for me to buy. But you have how many houses that you own right now? Houses? Properties that you personally own. Including my office, five. Okay. And do you

love being a landlord? Do you love owning property? Is it a more knowing that you thought it would be? It's a little insight. Yes, there are always things that you hadn't anticipated. Certainly being a landlord, I have a property that we rent, but I actually pay someone to do that. The other ones I don't, I mean I am the only tenant in the office building, I own the office building and I own my home, I own my home in Breckenridge and I have a condo and snowmess that we don't rent but they have one that I do and so that's the only one that I deal with tenants and it's definitely not a guaranteed win. A lot of people think it is

and there are people that have made a lot of money in real estate so people think well this guy made a lot of money in real estate so I want think, well, this guy made a lot of money in real estate, so I want to be in real estate. And if I just buy real estate, I'm going to make money automatically. And it's not the case. Let me just say one thing to that. The people that I know who have made money, money, money in real estate, this is what they do. Straight up, this is what they do. What's that? They do real estate. They do development. They have general contractors. They've got people that just, when you do development, it's essentially, it's your product. So you buy something, you sell it for more.

So you build a, you buy a piece of land for $100,000. You put up a strip center for $500,000. And then you get it leased up and then you sell it for a million, too. I mean, they're buying something, they're adding value, and then they're selling it for more, or they're letting it run out. I want to ask you a question, because you wrote an article years ago, was it an adentver post? Am I written that correctly?

Yeah, adentver post. Good memory. And you were, I mean, I read the adentver post in the legislature, you know what I mean? It's the fifth biggest print in a month. When I go visit Byron and Breckenridge and Asman, I make sure to pick up a copy of the adentver post. And this particular article that I picked up

was written by none other than Patrick Bette. David talking about when you were in your infancy stages of PHP, you could have bought a house and lived at a multimillion dollar house and done that or taken all your cash and started your business, which is obviously 100x to over the last decade, whatever the number is. But give us a little insight into that article,

what you wrote and what your mindset was when you were building your company. For the average person buying a home, buying a home make make sense. For the average person buying a home make make sense. Highlight average person. Average person's meaning, I'm going to stay in the same city for the next 20 years. I'm going to probably go to a job and do that for the next 20 years. I'm going to make the stable not moving to another state.

You have to realize I have moved 11 times in the last 10 years. I have moved three states in the last five years, six years, just six years ago I was living in California. Then I lived in Texas for five years. Now I'm living in Florida. I call people calling me telling me house techs. I'm like, I don't know.

I'm in Florida. I couldn't tell you how Texas is right now. You got out just in time. Yeah, and I got out just in time. But the point I'm trying to make to you is, I'm probably not the guy to, I'm not a fan of buying homes for me. It's a terrible idea for me to buy homes

that I'm living in. Now, at this point, it's a different story. Why? Kids, private schools. Kids got to go to the same private, it's unfair for you to keep changing where you live. When you got a five year old, four year old, a seven year old, a nine year old,

and they keep having to make new friends, and new friends, you can't create momentum. So you have to make a decision for them as well. It's not like, hey, you're gonna move again. Yeah, to you may not be a big deal, but to a kid. It's too many moving parts, like let these kids settle down and build some relationships,

or else every school they go to, they can't like, well, listen, I'm having a good time with you, but we're probably not gonna be friends long term. Cause the last kid I became best friends with 16 months later we left. So I can't get too close to you. So it becomes that one thing where you have kids.

There's definitely other bad things. It changes. It changes. For you, why would you buy? Why would Adam buy? You're a butterfly. Why would you buy? There's no reason for you to buy a butterfly.

You're a butterfly. Yeah, have you ever been called a butterfly before? No. First time I called you a butterfly. Get all sorts of called a butterfly before? No. First time. I called you a butterfly. Get all sorts of compliments. I believe me. I'll get crushed by the end of this episode.

But get back to that article where your mindset was at when you were in my early 30s. I told my wife we were having a meeting. I'm in front of 66 guys when we started PHP. By the way, shout out to PHP. Last month was a record break in month with 11,449 new business partners. And we had 750 by the time everything's done, new licensed agents, which is the third biggest in America today, most highest newly licensed people with a company

will be us in the month of March. There's only two that licensed more than us in the month of March, which is pretty exciting to see what's going on. Policies will end up being around 12 to 13,000 policies. But I gave a meeting in Northridge, 8550, North Balboa Boulevard. That was the office, okay, Northridge.

Down the street from Home Depot. My dad loves going, first thing my dad does when he comes here, he says, hey Pat, I said, what that? Take me to Home Depot. I said, I'm not taking you to Home Depot. He says, why not? I said, if I take you to Home Depot once, I have to take you every time.

I said, I'm gonna show you where Home Depot is. He says, okay, okay. So he went, I said, what are you gonna go, if you want me to go to Home Depot with you to carry some heavy stuff, I'll go with you. I said, what do you Yeah. He says, okay, okay. So he went, I said, well, you want me to go, if you want me to go to Home Depot with you to carry some heavy stuff, I'll go with you. I said, what do you buy? He says, one pipe. I said, I'm not going to Home Depot.

For Home Pipe. You're the key. Your dad is basically Will Farrell and old school. It's like, I got a bit of a bad feeling. I'm going to bet about them beyond. I saw Sunday planned, I might go to Home Depot. I don't know. It's Gabriel the Tank.

Frank the Tank. Gabriel the Tank. Yeah. So, you're in Northridge, you're in front. I'm in Northridge, I'm running the office. I start the company and I tell everybody with my wife standing in the back, I said, babe, in the next five years, I'm not buying house.

Every penny I make, I'm putting it back into the business. We're gonna rent, I said this publicly to everybody. We lived at a two bedroom apartment complex at the summit and then we went into a three bedroom house at Encino, Boulevard, and then we went to Chatsworth, we had a few homes there, and then we made it out to Dallas. We moved like five, six times in California before we moved out, but I put that money into business.

Now, that may not be the story for everybody. The thing would bind homes, it does, one story doesn't fit everyone's narrative. It may work for you, it may not work for narrative. It may work for you, it may not work for you, it may work for me, it may not work for Kai, but it depends on where you're at. For me, it ended up working out. But going back to the story here, what's going on with real estate? Realtors can be bullies today. Here's what realtors are using script. You know what realtors script is today? Look, you don't have to make an offer. There's

probably going to be five in the next 24 hours. You don't have to make an offer. So the realtor of being the sweet realtor, I think this is a good investment for you. I think you ought to make the move. Realtor's today are saying, don't make the offer. It's okay. We're going to get five offers in the next 24 hours. They can pay some hard. So all realtors are doing right now. They have one script. You know what the script is? Do you love this home? Because you love it make the offer they can own it if you love it make the offer don't play the game today Realters have a lot of leverage today if they have any homes to represent well you've been quite vocal that you are in the market right now looking for a house It's wonderful dealing with these realtors by the way what is your experience with all that?

Have an honor. I mean, it's just lovely. We wake up in the morning looking for to deal with more realtors. Let's say we did have Sonata on the show. I got to tell you shout out to Sonata. Tim Tim had a birthday last week. We sank for him. I'm a big Tim sales fan. A Tim Elms fan. But yeah, so that's that's what we all would realize. We have a lot of stories. So let's get into the next story that we got here. We covered pending home sales. Do you want to get right into taxes or do you want to go into a story that we got here. We covered pending home sales. Do you want to get right into taxes or do you want to go into a story

before we go into taxes? I think we should have warm up and lubricate the audience before we get into it. Okay, like tell me which one of these stories is gonna fire you up, Byron. That's what I wanted. What do you fired up? How about we do the Trump story?

How about we do the Trump story? Kai, can you pull it up? The Trump story? So no, Trump gets interviewed by Laura Trump, okay, which it looks like it was there. He's already fired up. Which it looks like it was done at Marlago Okay, where the interview is being done by his daughter-in-law Facebook scrubs Donald Trump's interview with Laura Trump sites indefinite ban keep going up for doing this

Can you go hired to see what else they're saying the other way color? So your Facebook took down a video of Donald Trump conducted by Donald or Donald Trump. For her show, the right view, I like that name, the right view instead of the view. Facebook spokesman Andy Stone said that the video was not permitted on Facebook and Instagram because of the former president's indefinite suspension after the deadly capital right.

On Tuesday, Laura Trump posted on Instagram, big show tonight, I will be joined by President Donald Trump on the right view. Laura Trump, who's married to Eric Trump, received an email from Facebook and a content to voice advice. Voice of a former president Trump is not currently view, Laura Trump, who's married to Eric Trump, received an email from Facebook and a content voice device. Voice of a former President Trump is not currently allowed on our platform, including new post

with President Trump speaking, Facebook warned that any future post would be removed, resulting in additional limitations on account that posted. Laura Trump then posted a video interview on the social network rumble, Facebook suspended on Trump, because I said, so what are your thoughts about this? I think the censorship in the media, especially social media, but all the media is absolutely

anti-first amendment. It is not America and it is incredibly dangerous. I mean, nothing they said in that interview is dangerous. I just can't, I just can't believe we're living in, this is our country, we're living in right now. And it now. And what's amazing is the left was the, they were the ones back in the 60s and all the free speech and for right to assemble and they were doing all this peaceful protest and all this other stuff. They were the ones driving, you know, the putting free speech out there as a, out in the forefront. And they were the ones, they were the free speech the free speech party if you will not that the republicans or the right was it was against free speech but i mean it is gone today is unbelievable

i mean you can't say anything if you say the wrong thing you run the risk of being canceled and it's it's crazy i mean here's a man that a lot of people want to hear what he has to say nothing he said in the interview is dangerous, but because some arbiter of truth, Facebook, Twitter, whatever decides that whatever he's saying doesn't fit their left wing narrative, they're going to literally silence somebody. It's insane, absolutely insane. Can't believe this is going on in America. You know, it's crazy. Like you remember the first big name that got banned on social media was who?

Alex Jones. It happened within the 24-hour window where he was shut down on Facebook, Twitter, Instagram, YouTube. They took down the info wars. They took down all these other things and then they took down PayPal. They shut them down, right? But when he gets interviewed, they allow his interviews to stay on. So when Alex Jones goes on Rogan, Oh, he did an interview with us on 9-11, like six years ago or four years ago. He stayed on. It was literally a week after he got banned. We interviewed him. His interview stayed on. They haven't taken it down yet. Why are you taking down an interview of President Trump? Even Bernie Sanders came out. Did you get a Bernie Sanders that last week about Trump? Yeah, he thinks it's dangerous because you never know who it's going to be now. He says, look, I don't like anything about Trump.

What he does, he's a xenophobic, he's a womanizer. He said all this stuff, so don't get me wrong. All of that stuff, I still believe in a guy. But I don't support at all to silence the former president. He says, I don't think that's good for our society. Even a socialist, Bernie Sanders defended Trump and Facebook takes this position. What are your thoughts?

So I'm gonna shock you guys and I'm gonna shock our audience. Here we go. And I'm actually gonna come out and tell you that I agree with our friend Byron. I think it's a very dangerous position where these big tech companies, Facebook, Instagram, Twitter, all this can just say, no, you're gone. You've been canceled. And obviously they've been looking for any excuse to get rid of Trump for years, even though obviously the media networks ratings

have been sky high over the last five years covering Trump and all the nonsense that comes along with the Trump reality presidency. Oh, they're gonna miss them in their pocket. Okay, that's true. But clearly I'm not a fan of Trump, but do I think that the frickin' president, ex-president of the United States should just be permanently banned

from being interviewed? No, I think that's a very slippery slope. Obviously, we're talking about the First Amendment here, and I agree with Bernie Sanders, and I agree with Byron here, and I agree with what the First Amendment stands for, and I think, and this will go back to a bigger story. All right, cool. This article got taken down. What are the chances that Trump can either run or win again

in 2024? And if this is the narrative that if any time he comes out and speaks and gets taken down, put a fork in him right now. Because if you can't get your views out there and your perspectives out there on Twitter, on Facebook, on YouTube, on social media, you got no chance, bro. You got the story. The last point, it all comes down to the insurrection or whatever you want to call it, the surge

at the Capitol. That was the day that they said, dude, this guy's done. And he's been banned ever since. Right. They were just looking for an excuse. That's my point, but he believed me. He gave them one because that was a disgusting situation that happened was a horrible situation but it's not what the media made it out to be it's

not was not nine eleven let's give you a break yeah i mean obviously there are no planes flying in the buildings that's it that's a stretch there but uh... armed insurrection that's true as far as i know nobody was found with a gun in the capital nobody the bigger story here is when we've talked about who are the most powerful people in our country. The president, media companies, social media, universities, billionaires, and who sits

at the top of that list these days. I think it's, you'd be very hard to fight against it that big tech or social media are the most powerful influencers in the country. I know universities are right up there in the mix. Certainly, but to the extent that they're controlling the content, absolutely. Completely. Just let it happen and let it be. And that's why there's a pent-up demand for some sort of decentralization in social

media, which is what my son is talking about with that platform. Shout out to Jake, if you're watching. Jake, if you're listening and watching, we just agreed to watch it. Who's the biggest fan? Just to all our listeners out there, our fans out there, our value-tainers, I just agreed that Trump should be able to be seen on. Yeah, I think for me, I'm more thinking about, okay, who is behind it? Is Zack saying takin' down?

Is Zack afraid because he's in Silicon Valley and Pelosi is gonna destroy his business and regulations so they have to take it down? Is Zack trying to be loyal to who? Who's he being loyal to? Who is he afraid of? Is Biden telling him takin' down? Are they choosing to take it down themselves? Is this board tellin' him to take it down? him taking down are they choosing to take it down themselves is this board telling him to take it down someone's telling him to

take it down because I don't think it's zuck I don't really think zuck is about taking it down I don't believe that I think someone behind closed doors is challenging them to take it down and and here's what it does okay so think about it from this standpoint okay does constantly silencing Trump make him stronger, or does constantly silencing Trump make him more irrelevant? What does it do? I think there's a little bit of both, but I think it probably weighs in favor of the latter.

I think it makes him more irrelevant because nobody hears it. More irrelevant. I mean, when you saw that Biden story that didn't get that that was basically quashed right before the election with the scandal with his son. New York Post, yeah. I mean, the vast majority of Americans never saw the story.

It was a huge story, huge scandal. I mean, this anybody else, this would have been all over the news and they literally not only shut the story down, they shut down the New York Post, they shut down their entire Twitter account. Are you kidding me really missous of the story now that i haven't heard anything about hunter-byton in months again they can still fox could still be talking about why are they not talking about

how things work out the left the left is in social media talk about been gossier for the guy just came out with a book talking about his crack experience he wrote he's talking about his experience with crack Okay, Hunter's so this this is not like the he got down to a point where he brought a homeless guy to live with them Off to street because he couldn't get off the addiction of drugs I mean, not talking about a regular think here, but he's talking about the silencing the story at that time It wasn't just about hunter. It was about Joe. Is it an effective strategy? That's all I'm asking Is it an effective strategy to silence Trump? It worked. it an effect that strategy to science trump it worked okay surveys have been

taken a vast majority of biden voters didn't even know about it and if they had they might not have voted so zero to ten give me a percentage what percentage chance trumps running it trump runs in twenty twenty four sixty percent you're saying sixty percent he runs yes what do you say he runs twenty twenty four i'm gonna do the um... prices right approach and say 61%. Oh, you're gonna say he's gonna run no matter what. Yeah, I think he's going to run just because he's that eager. You think he's gonna run? I think he'll flirt with the idea. I just don't know if he'll officially run. Give us a number. I'd say I'm gonna do like a 50. Okay. What do you think? I don't know. I'm not of us. No, I'm below 50. I'm below 50. I'm not at the, I'm not as optimistic as you guys are. I'm not as optimistic as you

guys are because the only thing that would change my optimism is if he has a place where people can go every day, every hour to hear what he has to say. If he comes up with the room, the rumor is that he will. I mean, shortly, but let me put it to this way. Last night, we had to the amount of traffic that was going on our website. We got contact about AWS and they had to help us increase the server to be able to maintain what we were going through the last 24 hours. So, okay, so AWS, you develop a social media website that's massive. Your name is Donald Trump. You're going to need AWS, AWS,

not to you. Where are you going to go? Anywhere else you go, they say, if you do business with Trump, you can't do business with us, how the hell did Rumble go down? So if Rumble cannot stay up, you know, and not Rumble, but Parlor cannot stay up, what are they gonna do with this guy? Like, what is the difference? So he creates a social media, you need a hosting service. You need those guys.

So he's got the resources to set up his own hosting, if he wants to. It's then, then, then, he's got the resources to set up his own hosting if he wants to it's then then Then he's got the resources set up his own hosting service. It's not as cheap as you think it is This is not a million dollar cost. It's not a ten million dollar cost hosting service is not cheap Especially if he gets the kind of traffic that we think he's gonna be getting if he gets the kind of traffic that we think He's gonna be getting It's not a cheap investment. So now, the flip side of it comes what? If the Republican party unites behind him

to help fund them different story, does he have that kind of backing? I don't know if he does. I don't know if he does. What I will say about Trump, let's circle back to 2014, I think that was the year. And Obama just crushed this guy. remember at the White House correspondence dinner and he just clowned Trump like crazy

Yeah, and Trump just sat there sort of just stoically and just And he was you could just see he was plotting his next course plotting of course plotting and obviously he just was dead set on Obama What's my point? I think he's now looking at everything going on and we have not heard the last of Donald J. Trump. Whether he ends up becoming the nominee, whether he ends up winning, I doubt that because he doesn't have the momentum and the sneaky up on you.

And I alone can fix this vibe that he had back then But he's plotting and he's definitely testing the waters and but no doubt 100% he will be The elephant of the room whenever the midterm for sure But or the 2024 right now for the time being he's in the rearview mirror and we've got Biden as president We talked about this yesterday. What do you think the Vegas odds are? And I don't know if you can bet on politics and Vegas, but you can overseas.

You can bet on what are the odds he serves his entire term, four years. Biden. I told you the number, I said 70%. But you wouldn't bet me. 50, 50. No, not even money. I bet you 10 or one. I bet you 100 grand to 10 grand. But you think there's a 70% chance he's going to serve. But I'm betting you 10 or one. So let's just

get 10 or one. I'll do it. If you think there's a seven percent chance that I'm betting you 10 or one. Well, if you think there's a 70% chance an even money bet would be a good bet for you then. Your betting is going to serve. I say he won't serve four years then let's do it I 50 50 I'm not even money I'm not doing 50 50 50 50 50 chance no I think it's less than 50 50 I was your entire outcome today for me to be held accountable to agree to do a bet with you on this thing you you really think this guy's not going to end this term he will not finish his term tell me tell me what I'll bet you on how it was cognitively impaired to the you do not see how he runs up the stairs when he goes on the planes Like what is there master?

Me I mean I What about the video the other people bloody when he It's let me tell you why there's a hundred percent chance that he's gonna still be president until 2024 Because he the Democratic Party is so invested in him that even if they have to weaken Bernie style him and he's just walking around with sunglasses on They're gonna proper their proper up. Yeah big time That's my kid. They will not be able to prop him up for four more years no chance I disagree. It's just too big Just too big he's gonna go. Yeah, are you willing to do a 50 50 bet? What's the number? Whatever?

10 grand No, I'm not that 10 grand. I'll go. But do us 10 grand right now that he's gonna still be the president. I say he will not be the president Through the end of his term. That's actually good. Bed if you think he's got a thousand bucks, right? Go deal Oh my gosh, we got the bet So yeah, and listen by the way if you're listening For whatever reason I I you can't collect my money because I collected a lot of money when Biden won. It was like, I named Ricky Aguilar that still owes me $1,000.

So hopefully he shows up and we can work that out. I'm gonna keep broadening that guy. Do it. But here's the thing, here's the thing. Let's qualify. Yeah. If he gets impeached, does that count as an upmage? He or me out.

I'm just gonna have to qualify. He's not the president. So whether he's impeached, he resigns, he steps down, whatever happens. If he doesn't finish his term, that's currently losing 1, out. He's not the president. So whether he's in peach, he resigns, he steps down, whatever happens. If he doesn't finish his term, he dies. He steps down for health reasons. He's not going to get in peach. So peachments and past.

Yeah, I don't take it. All right, so we got 1000 bucks for term. Yeah, circle back and four years. Why are you so confident about this? Because I just don't think he's, you can see it. I mean, he looks like a deer in the woods. And I used to be the same victim. I learned, I learned from Pat, you're see it. I mean, he looks like a deer in the middle. I know what you're doing. And I used to be the same victim. I learned from Pat.

You're a victim of your emotions right now. I'm zero. I got zero emotional attachment to this. I'm just gonna make a thousand bucks and call it a day. Can't you sleep, you Joe? Good luck getting up to stairs. Did you watch the press on the stairs?

I don't care. Anybody can fall upstairs. Did you watch the press conference? This guy, this guy, when he walks out of the press conference, he doesn't know what state he's in. This guy can't find his car in a 7-11 parking lot with four spot. I mean, this guy is more emotionally invested. You're mostly invested. I just watch him. He doesn't know where he is. I mean, he loses, he's just, he's cognitively going down quickly and they're, someone's going to step in or he's going to step down or they'll make it, they'll make it,

they'll do it in a dignified manner. They'll say, look, he's got some health problems. And they're probably try to make it last past the second year because terms, well, they want to make it pass so that way they can run Kamala twice or three times. I mean, she can serve two years and then she can run Kamala Harris is not going to be our future president. I'm telling you just saying. Let me ask you question. Let me ask you question. I got a crazy question for you.

Kamala Harris is on the ticket 2024 and Trump's on the right who you voting for Forget about it third party is Joe Georgian sin Have already doesn't even know that Joe Georgian sin is actually a female The libertarian party of the green party. Actually, the charismatic figure and how have we been saying this for a long time? They often do. They often do.

They often do. It's a two party system. Bill Weld, Joe Jorgensen, you can't you're a royal fanator. Get out of here. You can't win in those parties. You just have to wait a minute. Who is the charismatic libertarian? Who's the most charismatic libertarian in the pen and can I know we've had? Well, I I mean you look at it guy like uh...

run Paul uh... you said charismatic well I mean you know in his own way he's not Donald Trump he's not a bombastic type of person you get some I just don't mind you behind you how about Ross Perot yeah I that's the reason that was 30 years ago yeah those 30 years ago it's just very difficult yeah was 30 years ago

It's just very difficult. Yeah, those 30 years ago by the way, I tell you I don't know why I actually think there is a big opportunity If the right charismatic guy I think there's a big opportunity for Mark Cuban if someone who's like Fuck I got this you know who you know Matthew McConaughey who's like, Blimp on, I got this. I can't hear about you. You know who, you know Matthew McConaughey. I'm actually being serious.

Matthew McConaughey. Matthew McConaughey, if you get somebody like, you're saying no chance. No chance. You know there was another actor that ended up becoming a governor and that had become a president. I don't know if you remember the guy, he's then was Ronald Reagan.

Do you remember that guy? I do. Pretty good guy. Did you vote for him? I did. But you also voted for Jimmy Carter. I voted for Jimmy Carter in 76. I voted for a third party candidate, naively in 1980.

John Anderson. You didn't vote for Reagan in 80? I didn't. No, I thought, oh my god. I thought, honestly, I thought Reagan the way lots of people today think about Trump. I thought, oh my, this guy's crazy. This guy's just going to bring us into World War III, talking about evil empires and the Soviets.

I thought, oh my God, I mean, because we had just got done with it. Yeah, we got. In front of our audience, who was maybe a little bit younger, that doesn't remember what Reagan was talking about in 1979, 1980. What was that about? He was just talking about, you know, the,

the, the, the, the, the, the, the, the, the, the, the Russians and all the, I mean, I thought, my God, he's going to usher us into World War III. We're going into nuclear war. And I was still a young guy. We had just got done with Vietnam. I mean, I didn't want to go to Vietnam. I was too young and it was over just about the time

I would have matured into the point where I could have been drafted. And we were scared to death to have to go to Vietnam. And I thought, my God, this guy's crazy. Not only that, he just seemed kind of affable and stupid and just by 1984, he... He was the, the, the, the, the affable dunce that, that's what they thought he was.

He was drunk back in 1980. Turns out he was way smarter than I thought he was. Way smarter than anybody ever gave him credit for being. And he was ideologically where I was by the time the mid 80s came along. So by 84, he had turned the economy around. I mean, if you remember, I mean, just go back to pop culture, you can see it on Saturday and at live.

I mean, Jimmy Carter, I mean, this guy, nice guy, I mean, you know, meant well, but completely ineffective. And he got on television, he's talking to people, look, we have an energy crisis. The world's gonna be running out of oil by 1985. And we need to turn down our thermostats and put on a sweater and like, every place like, I mean, this is what he said. I mean, this is the crazy stuff. And Reagan's like, hey, we're America. We can kick ass let's just come in and

I've said, what is this guy crazy? I mean, I had heard four years of Carter. I'd like Carter, but I realized by 1980 that Carter wasn't getting it done. I mean, we were being made fools of by the Iranians. They had these hostages. It was in Reagan came in and like the day he gets inaugurated, P-O-W's release. They let the hostages go, because they were not gonna mess with Reagan. And you know, everything he did in four years

was just amazing, he turned the account. And since Reagan, so you were, it sounds like you were kind of a little with lefty, liberal, and you're 20s, and then you've heard the saying, show me a young conservative, I'll show you a man with came in, show me a young conservative, I'll show you a man with no heart, show me an old liberal,

I'll show you a man with no brain. There it is. So you went from having a heart to have an a brain. Who's a better president? Carter or Biden? Well, are they very similar? No, Carter was probably better. Carter better than Biden.

What you put, Carter was intelligent. you put by by the by the by the name of the what is always been an imbassal now he's a c-nil in basal he's not running anything they put papers in front of them they say sign this and he's you know he signs it what am i signing way he signs it and then if he if he happens to get a little feisty if they put a paper in front of him here here's your forty-seventh executive or your sign in the sea reads this is what the hell is this

all were uh... were mandating that our daughters are gonna have to compete with men in sports uh... i don't want to sign this and they said joe sign it just sign it is like i'm not i'm the president i'm the fricking president i'm not doing they say joe do we have to remind do we have to remind you Joe, that we have a lot of dirt on you, China and Ukraine and all this time? We can throw you under the bus and you will not be present. Nobody's saying that to Joe.

Oh, absolutely. Are you kidding me? Who's saying that, Joe? Listen, sign the damn thing or we're going to, we're going to expose you in the Democratic party. Nobody's saying that to the president. Absolutely. He is literally doing what they tell him.

And if they, if he doesn't do what they tell him, They will throw him under the bus and they will gladly put come on I have a legitimate question for you. Who's they? I have no idea all right I mean just the powers the powers you know whether whether it's Susan right I don't know who the hell it is, but you and I it's cute on it's not cute on but I'm telling you There are people that are running Joe whoever's running Joe Biden because he is truly a puppet Someone's got the strings and if he doesn't do what they say, they will throw them out. Because they had a-

What do you put them on Goat Mountain? Like the greatest of all-time president. What do you put on? Biden? Yeah. Abraham Lincoln, George Washington. Are you in a place where- He is completely, it's a joke.

It's a complete joke of a, I mean, I can't believe that, there's no way 80 million people voted for this guy. There's just no way. But if they did- The price is but If they did I cannot imagine that the I mean, I get on tell you watch this guy on television I mean, he is completely lost by or do you think that Donald Trump should be on Mount Roche more legitimate question? I'm not going there. What do you mean? I put Reagan up there first. Okay, and you didn't vote for Reagan. I did the second. In 1984, I'm saying in 1980,

I'm shocked by that. All right, let's talk about H&M. So enough with this year. Let's go to H&M. H&M under attack in China. Sticks to stance with anger, Beijing. This is a story from Wall Street Journal, the chief executive of H&M Helena Helmerson said that the fashion giant wants to be responsible by your standing by human rights position that anger, Beijing and trigger the brands. Disappear disappearance from China's internet, last week China's leading e-commerce ride, hailing daily deals and map applications removed. Any reference to H&M after statement at issue

last year about not sourcing material from Xinjiang, major cotton production region in China, suddenly went viral. Alexander Shapiro, head of strategy at Beijing branding agency, PBB creative, said H&M essentially has two choices. It can keep its head down and hope the boycott ends quietly or it could stick by its human right stands, risking sales indefinitely. It could also preemptively pull out a move

that could benefit the brand outside China if it is seen as a willing to stand up to Beijing, the attention could have been more valued than your Chinese business, he said, thoughts. This is China. China decides what the people can see and China controls 100% of their media. The question is, the bigger question really is,

are we becoming China? That's really the bigger question. I mean, this has been going on in China forever. China doesn't like something. You don't see it if you're a Chinese citizen. They control what all their citizens see. This is the nature of being under a dictatorship that they have. The question is, is that what we have here?

I mean, you got a company like, they canceled my pillow. I mean, what the hell is that? I mean, this guy's just got an opinion and all of a sudden, now all these stores are thrown and they won't carry his merchandise at bed, bath, and sudden, now all these stores are thrown in his merchant, they won't carry his merchandise at bed, bath, and beyond, and all these stores decide they're not gonna carry this stuff because he's a conservative.

It's ridiculous, absolutely ridiculous. And I don't really care what happens in China. We know, this is not news in China. They do this all the time. The question is, are we becoming China? Do you actually think we're becoming China? We're taking steps in that direction, yes. Because we're banning the My Pillow guy.

It's not just that. Cancel culture is... By the way, have you ever used a pillow? I have not. It's not that good. It's a pillow. Relax. Adam, we're forget about canceling the My Pillow guy.

We're canceling the president's interview with his daughter. I already took a stance on that. I don't agree with that. That's what China does. If China doesn't want something to be heard, they just shut it down. Okay, so you guys have been in America longer than I have. I've only been here since 1990. You've been here your entire life.

You've been here your entire life. Minus that one stint when you went out of the country to Addison, Texas. Outside of that, you've been here. Greatest place on earth. You've never seen anything like this. Okay, that's what I was gonna ask. You've never seen anything like this before. What's been what I was gonna ask you've never seen anything never seen it

What's been the closest to today anything has anything been coming was Reagan ever silence was Nick was Nick's and silence like it Let's put a Nixon could Nixon get on TV doing an interview and they would show it always They've never silent so what's worse what Nixon did or what Trump did Which particular, the reputation, the reputation, the way Nixon's career ended versus the way Trump's career ended as a president, as a right now. The media, the way they sold the story to the public, the way the media sold the story to the public,

versus what really happened. Here's what Trump did, he is terrible, he's a divisive guy, to the public versus what really happened. Okay, here's what Trump did He is terrible. He's a divisive guy. He's this. He's that okay Nixon watergate, you know control Doesn't let anybody in he doesn't talk to anybody. He's a hermit. He's this. He's that he's that it's hard to compare those Those are so different the point I'm trying to make to his to follow and the point I'm trying to make to his to follow Which one had more of an argument to say he shouldn't get the platform to speak on TV. Nixon or Trump? Neither, you can't ever say you don't get the platform.

You can't say you can't speak on TV. This is what our country is all about. Exactly what I'm saying. It's neither one of them. So the point I'm trying to make to you is right now. Today's era that we've had, today. For me, all I know is last 31 years. I don't know nothing past 31 years, okay?

You go past 31 years, could any president get on and just give their speech and give their thoughts or pass president say, here's what I think about what's going on. Was there any time where anyone was silenced? No. Ever. I can't remember.

Forget about 31 years. We're talking about the last six months. So it's not like Trump was silenced in 2020. He was silenced since January of 2021. We're talking three four months No, no, wait a minute people silence a beginning October. He was fact checked. Yeah, beginning fact checked anything he said No, since November since he lost the election. No, no, no, no, no, he was he started anything he would post Saying watch them use this against me from that moment on saying watch them use this against me. From that moment on, they would always fact you're meant

to bottom saying, hey, this is not, so from October, he started getting pushed around by social media. By the way, I have no problem with fact checks. I don't need to. By the way, is there such a thing on social media as does any of the social media platforms, Facebook, Twitter, do they employ any conservative fact checkers? Is there a single one?

Fact checking the left. I don't know. I don't know. They're just saying whatever the hell they're job qualification. Pro situation. Yeah, you have to be a lefty. I don't think that's the I think there are people that go into it or lefty stop I don't think that you I'm a lefty. I'm coming to work for Google. I don't think that's how it works I think they they're looking for a call about candidates You okay got it so Okay, got it. So going back to it, you've never seen nothing like this before on what's not. The people have boycotted companies for things they don't like.

I remember, I was maybe 15, 20 years ago, they were gonna play the masters. And since the Augusta National had no women members, there was a women's group, I can't remember who it was, that headed it up and they said, we're boycading, we're boycading, they were marching outside. And what they did was they decided,

we're gonna try to get them to not buy the products from Cadillac or IBM or those say, and then what the master said was, what Augusta National said was fine. You don't wanna buy, tell you what, we're not gonna take any advertising this year, that way you can boycaddle you want, do whatever. And eventually, we're not going to take any advertising this year. That way you can boycott all you want. Do whatever you want. And eventually it went away.

But to literally cancel someone, say, you can't be in our store. I mean, corporations to start pandering, to just insanity. Well speaking of, hi, Jack. We have a parents by Jennifer Bette. Yeah, I mean, this doesn't have a lot of money. What's going on here?

We're just say hello to everybody. We'll cook on chat. Come on camera, say hi. We're how many weeks do we have left babe? We have a parents by Jennifer Bette. Yeah, I mean, this doesn't have a lot of work. Just say hello to everybody. We'll cook on chat. Come on camera. Say hi. We're how many weeks do we have left, babe? How many weeks we got left? So I'm 28 weeks on Saturday. 12?

So yeah. How do you feel? Do you feel good? I'm doing it. Yes. She's sitting last night doing homework with the kids. We had to work with Tico yesterday on how to write what he learns. By the way, good story on what I told Tico.

She was there. This was a hilarious story. So I feel uncomfortable when he's standing up, babe. But I'll tell the story real quick. You get to see it. So here's what happened yesterday. It's a funny story. So Tico has a hard time reading and putting what he read on paper.

He doesn't like to do that. He just likes to read. Give him a book. He reads't like to do that. He just likes to read. Give him a book, he reads through two, three books. You give it to him, he'll be done with it, right? So he's reading this Jackie Pen and Kennedy book and I say, so what did you learn from the book? So he writes, her Jackie Kennedy's husband was a former senator.

In next sentences, they lived in such instances. I'm like, you gotta give me more than this. I said, let me ask you a question. Do you ever wanna make movies? He says, yeah. I said, you're gonna write scripts with movies? He says, of course. I said, when you write scripts about a movie,

what Spielberg wants some of these guys with us, it's all about details. You gotta give details. He says, give me an example. I said, let me write a script for you. He says, well, it's that. I said, so one day, this boy walks out in a backyard. When he goes in the backyard, he hears a noise and a shadow.

It's dark. He can't see anything. He opens the door to go to the backyard. All of a sudden, here's something, whew, run to the side. So he looks to the right. He's wondering what it is. As he walks closer to the chair, he sees a splash in the water. Sees a shadow under the water moving. Looks over there to see what it is. Here's a sound to the right again. I said, that's what you gotta do.

He says, continue with the story. You have to watch it. You have to watch it. He says, it's somewhat happening. It wasn't the water. I'm like, the point I'm trying to make, he said, no, no, go continue. So I said, I got a thing.

Wasn't a stick. I said, so he moves the chair. Cockcrush jumps out. So it's, okay, it's nothing crazy. Then he gets closer to the pool. He looks over the water He sees the shadow moving next thing, you know someone behind him pushes him in the pool Then when he falls in the pool, it's dark. He sees this shadow swing up to him. Guess what it was What it was is that plan of prank on a great story that I said now right it like that

This was yesterday with two days ago with T-Cole But in was thank you for this page and FYI so everybody knows is this coffee? No, does your husband drink coffee? No, okay, so your husband need coffee. No, that's the real question in fog, they make it Starbucks. It's tea mixed with hot milk and some a few pumps of vanilla. Mixed with a, it's always comes with lipstick on it. Just so you know, mine always comes in every day. I get I'm like, well, she took a sip out of it. That's like sexy cup of tea. Yeah. To taste it, to make sure they did it right. So I taste both of them. She's the canary in the columbus. Yeah, she is. Can we give a quick shout out to Jen for a second?

I don't know what you're doing with your skin, but like you it's incredible. You're glowing zero blemishes No, it's probably pregnant. Is that what it is? That was my next I never tried you out of your Prima. She what happens to I'll see what I can do That's the thing say this it makes you glow. I'm like well, you know, I'll take it. Well your skin looks ridiculous So awesome. Thank you, baby. Thank you. Okay, so where will we? Nice little appearance. Well, let'll take it. Well, your skin looks ridiculous. Thank you. Awesome. Thank you, baby. Thank you. Okay, so what will we have? Nice little appearance.

Well, let me, I have a- Okay, we're a camper. I think we were right at the point where they're canceling H&M. It's on a control. It's completely on a control. And you know what? It's a story with a gust of that, you were saying. They boycott it, but the bottom line is I don't think this is where the Americans

people are. I don't think the American people like cancel culture. I don't think them like I don't like them canceling comedians anything. I mean, a guy like Don Rickles could not survive today. That's just couldn't do it. Look at our friend Bill Burr. He's somehow making it out there. Very few.

But there's an interesting YouTube video about Bill Burr. We're talking about yesterday how this one guy has analyzed how he does it and how he comes to both sides and he brings people in. And when he realizes that he brings people in and when he Realizes that he stepped in due to he he knows how to get out of it very quickly by either self-deprecation or something He does something. I'm a comedian. I'm a comedian. It's the best it's the comedian defense Pat's looking into that from what I understand. I won't mind doing it You have no idea how much I'm looking forward to doing one day stand. I go five ten minutes at a local club here I show an appearance opening.

And then if I like it, I may do it once a month. Who knows if I like it? Oh, you're gonna like it. If I like it, I may do it once a month. Because here's the good thing. Here's what's gonna happen. Because you're gonna do it. And there's gonna be one of two outcomes.

You're either gonna crush it clearly because you're awesome at this. And you're gonna get a taste of it. And you're like, I wanna do that again. Or you're gonna bomb. And you're gonna say, I fucking can't You're like, I wanna do that again. Or you're gonna bomb, and you're gonna say, I fucking can't go out like that. I gotta go back. So regardless, yeah, 100%.

So what are you banking on though? Bomb or killing it, crushing it? I think you're gonna crush it, and you're gonna get a feel for, damn, this is funny. And then here's the Ducamina Ducamina. And another thing to my list of things to you. When you, because I did comedy for many, many years, and then I got into finance, and I still,

and I opened up a comedy club in South Beach out of Bodega, out of the rickies. You can always say, well I was joking I'm a comedian like it's a great defense. Guys don't take me seriously. I'm you know I'm joking over here. John Stuart got away. Kind of like Louis Louis C. K. I'm not last set in it live. But last point just about H&M was getting a boy cutting. Can you remember a few years ago they came out with a shirt that kind of like Louis Louis C. K. It's not last set or tonight live episode. But last point just about Asian members being a boycotting. Can you remember a few years ago, they came out with a shirt that were all open the news.

They they had a little black kid cute little black guy, 10 year old kid and the shirt ironically was coolest monkey in the jungle. Do you remember this ridiculous situation that they had? You know what I'm laughing at? I'm laughing at the guy saying, Adam would cancel PBD on Twitter

If it got him an extra hundred thousand followers They're canceled Joe. Yeah, so this is a big deal for nation. I think this happened maybe Okay, how ridiculous is that cute little kid maybe six years old? Coolest monkey in the jungle are you flipping? Fricking kidding me so they had to walk that back, apologize, all that. So ever since then, they've definitely taken a big, this is spoof or this is not a spoof, this is real life, this is actually the shirt. So this cannot be real. This is real. And that was the model they used. Yes. Try doing that today. How what, what, what you

risk this? I'm, I'm actually I'm guessing 2018. I'm guessing and nothing happened to them Oh, no, no, no, no backlash boycott all that so obviously in the last two or three years they said holy shit We got a clean up our act a little bit. Is that ridiculous or no? That's you didn't know about this story well Let me tell you whoever was the CMO to market or ought to be fired Oh, they were if you have a brain you ought to know that. Oh, they were. If you have a brain, you ought to know that just makes no sense right there. Ridiculous.

So what was your outcome? So what's my point? So obviously H&M had to kind of get woke. Whoa. And they had to basically start taking stances on things like China because this whole story started with basically they're speaking up against human rights in China,

which obviously I totally agree with Byron. you know, you either play ball with China, you STFU shut up and get out of the way, lose your funding and get canceled, potentially disappear like our friend Jack Ma. But the bigger question here with China and H&M is, you ever shopped at H&M? Never been there. Oh, maybe once. My favorite store in a shop. Are you kidding me? Never been. Oh, maybe once. My favorite store in a shop. Are you kidding me?

It's your favorite store. That's the best deal in the get. Anyone who needs new clothes, and they're like, well, I'm not sure where to go, because I'm all allowed to save that money. H&M is redid- you can go there and spend 300 bucks and have an entire new wardrobe. It's amazing.

So shout out to H&M. Just don't get those sweaters with the gold smoke what percentage of the population do you think is if they had to vote thumbs up or thumbs down and where the country's going in terms of walkness and

being for more walkness at or less walkness where do you think the country think the country's like yeah we got to get more woke or the country is most people like this is such a bunch of crap. The majority of people are not in the woke camp is what I'm assuming. In the woke camp or do they agree with it? I think cancel culture is a fad and it will be phased out you know as all this up but don't forget.

Don't forget Byron when you were 20 years old, you were voting for Frick and Jimmy Carter, you were a hippie, you were smoking grass, whatever you were doing, now you're conservative with money. And think, by your smoking weed, but go ahead. I said grass. Yeah. So things change over time. So, I would just say that,

what is politically correct changes over time? In the 1960s, what was politically correct was to hate the war, be against the war, march against the war. We're starting out to be a freaking right. We're starting out to be a freaking right. We understand peace, love, but our veterans came back and they were treated just, it was embarrassing.

They were embarrassing. I think it's horrible. Unbelievable. So embarrassing, almost makes me want to cry. I mean, it is so embarrassing the way we treated our veterans And that's what was politically correct And it's just it and that and it nowadays you

Think them for their service even Vietnam vets you go back and say you know my god You really you went a lot of people didn't go they went to Canada They got some sort of bone spur or whatever everybody's got an excuse Yeah, my point is that political correctness changes. There's nothing, there's no immutable truth. And they act like, oh my God, that's, you can't say that. You can't do that. You do that, you're gonna get canceled. You need to do, you do get canceled.

People worry about being canceled. People worry about mistakes they've made. I don't believe that when people make mistakes, they should not be able to earn a living. I think they should pay the price for their mistakes, and they should be able to earn a living. I don't think you should cancel a comedian. I living. I don't think you should cancel a comedian. I mean, I don't think you should cancel Louis CK

for whatever he did. I don't think you should cancel Kevin Spacey for what he did. If he committed a crime, let him pay the price for the crime. But he's a great actor. Let him act. I mean, he's good at what he does. I just don't think it's fair to cancel people's ability to support their families and do what they do

just to make your point. Who's the question is, who's making those decisions of being afraid to, you know, sit there and say, yeah, let's go in and shut down. Let's go in and cancel this thing here because we're going to get so much backlash. That's who the problem is. The problem is who's caving again. That who's caving, that's the problem? That's correct isn't the problem isn't complaining that's been going around for thousands of years The problem is a kid comes complaining to dad and says you won't realize what the other one did and oh my gosh

What did they do are you kidding me the teacher said this? Let me call the teacher right now They will never talk to my son like this ever again like hypothetically right, right? So it's the parents that's the fault, not the complainer. I think the complainer's never going to go away. I think we've been conditioned to become offended by just about everything. And it's just annoying as hell. The only thing that really really offends me or upsets me about is when someone gets

offended or upset or triggered about something that's not worth getting triggered about. That's what off fends me. Like, what do you think? Get over it. Give me a break. I mean, you see all these sports teams changing their names. They're caving to cancel culture, if you will. I mean, the Washington Redskins, I mean, you heard what happened.

Of course. You find WFT. You know, finally after all these years, what's with Dan Snyder, I think his name is, he finally, do you hear his speech when he changed? And he said, yeah, you know, after all these years, I've been hearing a pressure and pressure and pressure. We don't want to offend anybody anymore.

So moving forward starting Monday, the Washington Redskins are now just going to be known as the Redskins are now just going to be known as the Redskins. I get it. Okay, let's talk about what Elon Musk just did. Elon Musk donated tens of millions of dollars to Texas schools and he wants top talent to meet him there. Fox Business Story.

He's given back to Cameron Country, Texas, home of the aerospace companies, Bokachika, lunch alongside, and a nearby city of Brownsville, which we have an office there. Musk announced on Twitter that he would be donating $20 million of schools in the county, another $10 million of Brownsville for a downtown revitalization. The announcement comes after Musk recently expressed interest in incorporating Bokachika village into a city called Starbase. Musk encourages followers in a separate tweet on Tuesday to please consider moving to

Starbase or greater Brownsville South, Padre, Arian, Texas, and encouraged friends to do so. He had a SpaceX hiring needs for engineers, technicians, builders, and essential support personnel of all kinds are grown rapidly. Starbase will grow by several thousand people over the next year or two. What do you think about that? So I think it's just ironic that two of the greatest entrepreneurs in the history of mankind are both living in Boka. Elon Musk is in Boka, Chica, and PVD is in Boka, Raton, Florida, and we have Biring New Deal with us today. There's a Boka there. There's a Boka.

And then obviously a lot of people want me to call it a la Boka. That's a shout out to Vanessa. There's a bokeh. So, and then obviously a lot of people want me to caheté la bokeh. That's a shout out to Vanessa speaking my Spanish and Sam, shout your mouth out. I know, I know. What's your point? So my point is this, what a frickin' recruiter. Do you know what people are gonna just randomly just move to?

People are moving to Texas regardless. Straight up. And now Elon Musk is basically recruiting saying, come to bokeh chica, which is basically on the northeast tip of the Gulf of Mexico, where Texas meets Mexico. Sure, it's a lovely area, if that's where Elon Musk decided to set up camp, but he is recruiting people, he's recruiting people for high-paying jobs and to live in a nice

neighborhood. I think he's going to completely change the landscape of that town and what a neighbor to have Elon Musk shooting rockets and I think he's gonna do it today. Yeah, you go and say bam What was that all about? I was just shooting a rocket this morning. I don't like it Here's a lot of stuff. I'm warning next time you're doing it. Y'all give you warning Yeah, I just think that That star base is this new town and whatever it's called in Boca Chica Village,

is the new place to be. And everyone has moved to Boca. Can you pull up the picture of Boca Chica Village? So the rest of us can see it, go ahead, by the way, did you have something to say about this? Well, listen, Elon Musk is a beast. Everybody knows he's a beast. He can make a difference anywhere and anywhere,

and anywhere and how, whoever he wants to do it, he can make a difference. The question is, is this move, this is the move you're talking about, we're made it to our news transom here at PBD. Is this a philanthropic move or is this just genius marketing? All the above. Here's a question.

Is it really philanthropic? Let me tell you what, let me tell you how I processed this. I processed it in a completely different way. Here's how I processed it. Are we going in the direction where people are gonna find cities like Boca Chica that no one's ever heard of except for people

that live close to Brownsville, and they're gonna create their own community and invite people over. Is that what's gonna happen next? Maybe. Is it gonna happen? Are we going in the phase of, hey, if you're a fan of XYZ,

I'm creating a community in this area. I'm gonna put $50 million into it. Move yourself over here If you believe in my way of thinking, let's get a few thousand people to live here. I actually love that idea. I love what you do Love it. You know what it comes to mind? One of my favorite movies ever. If you build it, they will come. They are coming. They are coming. And Elon Musk, shout out to Kevin Costner. Would you buy property around that area though? I mean, because if people are gonna flock there, that could be an investment. You have to realize a lot of these things.

A lot of these things could flap. Because Elon must have wanted about him as he changes his mind very often. So one minute he's one thing, another minute he's something. So sometimes he's playing, sometimes he's toying with ideas, but putting $20 million and $10 million, he's probably not toying with it.

I guarantee you already the land sales in that area is going crazy. $20 million, I mean, to him is like a mountain, not even a rounding mark. It doesn't mean a thing. I mean, if this, if it gets it on our trance, so many gets it on the news and people hear about it, he's going to help him to help his cause. I'm not sure this is a philanthropic move. This is a brilliant marketing. I don't think it's filling. No, it's not philanthropic. He's just putting it in the center

to recruit people over there. I know, but the first line, Elon Musk is giving back to camera county Texas, home of aerospace, come to the, he's gonna announce he's been donating $20 million to schools and 10 million for downtown revitalization. It sounds philanthropic. I don't take it that way, but I get what you're saying.

I'm looking at it for where it is. There's a part of it that is like you want technical way described, you're right. But I get what you're saying. I mean, I'm looking at it for where it is. There's a part of it that is like you want technical way described. You're right. But I think he's just trying to say, come on down. I want some killer talent to be living here. Absolutely. Do me one favor. I mean, you know how much I love Addison. But Boca, I think we're good right now. Let's not go to Boca Chica. Let's stay right here. No, what would be funny is up for all of a sudden, we go, we live in like a city 95 miles west of here where only 200 people live and we turn that into value-tame a veil okay and we create a city and we recruit

5,000 people then we all look together. Well 95 miles west of here you're talking about Naples Florida and it's 95 miles west of here. I don't think 95 miles west of here. I think it's more like 120 miles. What was Las Vegas 70 years? It was huge fee for that extra 30 miles. That's a big difference. That's good. To a guy like you, that's an initial $60 Uber for it. We talk about money. All right, maybe you're right.

Maybe you're right. Yeah. What was Las Vegas seven years ago? 70 years ago? Yeah. Nothing. Exactly. That's actually an amazing point by Byron Hedell right there.

70 years ago, Vegas was nothing. And look atell right there. 70 years ago Vegas was nothing and look at it now. And 70 years ago Detroit was everything. It was Motown. It was the richest city in the country. And the world. The Paris of the Midwest. Yeah, the Paris of the Midwest. And then they screwed the whole thing.

Things changed. All right, so we'll see what's going to happen there. Next, let's get into taxes. I think it's time we get into taxes. Oh, love it. I think it is time we get into taxes. I think it is time we talk about taxes, especially after what's finally introduced on what's gonna happen and hopefully our buddy Byron is gonna give us a course or maybe give a course to

Adam on how taxes works. What page are we on page four? Here we go four five and six yeah four five and six we have a lot of reading to do so just stay with me here taxes 82 unions and liberal groups urge Biden to go bigger on tax hikes and hold a wealthy accountable business inside the story president Joe Biden has unveiled his first part of his first of his multi-trillion dollar infrastructure proposal which could end up being eight it which could end up being $3.5 trillion in tax hikes, 82 national organizations led by Americans for fair tax fairness, sent a letter to Biden and vice president,

and Harris commanding the administration efforts to raise taxes on the wealthiest Americans and encourage the president to go further, right? So they're kind of pitching and saying, we got to, this is not enough, we got to go higher. So corporate taxes, they're going to lift it from 21% today to 28%.

So they're talking about. Yep. Restored state level taxes back to 2009 levels, meaning that still only the richest point five, nine of states would get taxed. Returned the top tax marginal rate on the highest incomes to 39.6 from 37 today AOC came back and said 2.25 is nothing we we need way more than that

She pitches a $10 trillion plan. Well if it's aOC. I mean my gosh if it's aOC's Progress expert in everything. She's an expert in climate. She's an expert in all things Tax wise. I'm a fan of her. Oh, she's so smart. She's so smart. Yeah. Progressive Democrats unveiled the 10 trillion dollar version of the infrastructure and climate legislation. Now people are asking what's going to be in this money here, right? The 2.25 trillion dollars. Where is this money going to? He released a sweeping plan to pump money to

transportation, renewable energy manufacturing efforts to combat combat climate change, fund the by undoing to cover the cost Biden wants to raise it. We already talked about it. Here's the numbers. Plan provides $620 billion of transportation, $174 billion for electrical vehicles, $180 billion for R&D, research and development, $300 billion to boost American manufacturing, $100 billion for workforce development programs, including training for those who have lost their jobs as well as apprenticeship initiatives. $100 billion to build a more resilient electric grid.

$11 billion dollars for clean water. $100 billion dollars for broadband internet. $2.13 for housing. $137 for schools and childcare. $400 billion to take care of the elderly and theled is what they're saying. And Biden says, this is going to boost the economy is what he feels about it. So before I get to the next article,

I'm gonna turn it over to Byron. What are your thoughts about this thus far? That's a huge question because you read a lot of stuff. One of the problems that we have is that there are people that can remain in power by creating class envy and a lot of the tax increases don't really bring in that much money. If you remember back in the 80s Reagan introduced a gentleman by the name of Art Laffer remember Art Laffer. He's from Nashville, Tennessee. The Laffer curve. Can you interview him? I did.

People don't understand the Laffer curve. To this day, most people, especially young people, didn't ever hurt of our Laffer, they don't understand that- They miss him now, the guys are genius. They don't understand that if you tax people, let's say, add 100%. Okay, you raise the taxes on the rich to 100%. How much money are you going to get from the rich? Nothing. They're not going to work.

If you tax them at 0%, you're also going to get nothing. So there is an optimum number where you get maximum revenue. We talked about this yesterday on the Capitol Gains thing. When Obama was debating Hillary in the 2008 election for the nomination to the Democratic, to be the Democratic nominee for president, I think it was Charlie Rose or one of the big , now, one of the big mainstream guys, Astoe Balmay said, look, Mr. Obama, you said you're on record as supporting and increasing the capital gains tax. But history shows each time the capital gains tax was raised, the government received

less money from capital gains taxes, and each time the tax was lowered percentage wise, the government received more money from capital gains taxes. So knowing that raising the taxes might likely bring in less money for the government, would you still be for raising the capital gains tax? And Obama's answer was shockingly, and this is when he completely lost me and a lot of other people, not that I was ever in his corner, but he said, yes, I would for purposes of fairness.

And I'm thinking to myself, how stupid can you be? I mean, raising taxes, if you're going to bring in less money, doesn't make any sense. We had corporate taxes before Trump at 35%. Corporations in other parts of the world were down as low as I think nine or 10%. And so what happened is lots of jobs left. Those companies basically domesticated themselves in other parts of the world. And so what happened is lots of jobs left. Those companies basically domesticated themselves

in other parts of the world. And we lost jobs. Obama said, nothing you can do about it. But there was something you can do about it. You can become competitive tax-wise. One could argue that the corporate tax is kind of ridiculous to begin with, because it creates double tax on the same dollar.

If you own a C corporation, which individuals can own, most individuals don't set up their companies as a C corporation for this reason. but all large companies are C corporations. They're taxed at whatever the number is. Today it's 20%, 21%. What is it? 21 is right now. You used to be 35 in 2017 that you would have highest in the world.

21 they want to raise it to 28. To simplify the math, let's just call it 20. You make a dollar, you pay 20 cents in tax that leaves 80 cents. Now, where does the 80 cents go? No, wait, we're not going to do the math. So just call it 20 you make a dollar you pay 20 20 cents in tax that leaves 80 cents now hot where does the any sense we're not going to do that way we're going to do it slow pull up pull up pull up a pull up Microsoft word and here's how we're going to do it everybody has to see it and make the font big it's very very important can you do a word or we don't have it okay so make it make it bigger so we can all see the size can you increase the size of font, click that, okay,

can we make it bigger or no, is there any way to make that bigger? 50.5. Just write something first and then see if we can make it bigger. It's very, very important for you to see this. By the way, I have the whole transcript between Charlie Rosa's conversation and I have the whole thing in front of him. I want to read this by the minute. If you missed what Byron, you just kind of went through it quickly.

I think it's very important for the audience to understand what this really means when you're explaining it. I want you to explain it again, show it visually. Well, we can, but the bottom line to remember before we go in and then we'll talk about it at the end. The bottom line is that raising tax rates does not necessarily bring in more money. Doesn't necessarily raise revenues. So we get to raise taxes to pay for that. Well, you could raise tax rates, but you may in more money. It doesn't necessarily raise revenues. So they say, we gotta raise taxes to pay for that.

Well, you could raise tax rates, but you may collect less money because if you collect more, 100%. So that's critical. So go to 50 points. Go to 50 points. Okay, put a million dollars there.

So say a company does $1.25 million. Just put $1.25 million in profits. $1.25 million. Okay. So that's profits that a corporation. This is a small business. This is not a big business. Okay. The CEO takes a quarter million dollars of salary. So take quarter million dollars of salary. Just put 250. Just put 250. Yep. 250 out. Which he pays on that 250, say 40% taxes. What's the number on the 250? 100. So 40% taxes, which is how much? 100. So put $100,000 below it. Put $100,000 right there. Okay. Which means he nets, right below 100, right? Nets, 150. Okay. 150. Which by the way, just put K next to it, just put K next to it, it's easier.

Yeah, so which you net 150, now keep this in mind, that's if you live in states that don't have state taxes. So just kind of putting it for, if you're in California, add another 11% to it, which means you're only keeping 125, but let's just stay with this right here, right? So what's left after 250 is taken out, $1 million. So now go below and put $1 million, put a bit of a space.

So it's separating the two. Yeah, go one more, put $1 million visually to see this. That $1 million right now, you're paying 21% corporate taxes on, which put 21% below is, you know, 210, okay. Now let's take you to 28, which what they want to do, at 28%, you would pay $280,000. So, just write on $280,000. Leaves you with what? 720, okay?

Net. 720. Now, if the CEO says, you know what, I'm not going to leave the money here because I'm going to end up eventually paying what kind of taxes? Access accumulation. Access accumulation taxes. So, screw it. Let's just take this money out. If you take that 720 out, how much money you pay on that?

40%. 40% on 720 is what? 288. So 40% on 720 is 288. Put another 288 out. 288 out of 720 is 432. So put 432 at the bottom. 432.

This is all if you live in a non-state taxes. This changes if you live in a different state, right? 432 units on a million dollars. How much taxes did you pay? 56.8% in taxes. You're getting double tax tax on tax on tax on tax not to mention it when you go spend that money you're gonna to pay sales tax tax all kind of all the other taxes yeah other tax so when people say you know let me read this to what you said I think it's very very important it's exactly the transcript from April 17 2018 okay Obama sitting down with Charlie Rose and here's how to come Gibson is who it was not what's Gibson okay in last night's Democratic presidential debate this is when they say last night April 16, 2008 actually

go back during the debate he actually said that was the conversation Democratic presidential debate between Hillary Clinton and Barack Obama moderator Charlie Gibson and Obama had to follow in exchange courtesy of ABC news videos available I don't have it with you I don't want to show because they'll take it down Gibson all right you have however said you would favor an increase in capital gains tax. As a matter of fact, you said on CNBC and I quote, I certainly would not go above what existed under Bill Clinton, which was 28%. It's now 15%.

That's almost a doubling if you went for one to 28%. But actually, Bill Clinton and 1997 signed legislation that dropped the capital gains tax to 20%. Obama says, right, Gibson continues. And George Bush has taken it down to 15% Obama says, right, then Gibson says, in each instance, when the rate dropped, revenues from the tax increased. The government took in more money when capital gains was dropped. And in the 1980s, when the tax was increased to 28%, revenues went down.

So why raise it all, especially given the fact that 100 million people in the country own stock and would be affected, Obama? Well, Charlie, what I've said is that I would look at raising the capital gains tax for purpose of fairness. We saw an article today which showed that the top 50 H1 managers made $29 billion last year, $29 billion for 50 individuals.

And part of that was what has happened is that those who are able to work the stock market and the mass huge huge fortunes on capital gains are paying a lower tax rate than the secretaries. That's not fair. And what I want is an oppress, is not an oppressive taxation. I want business to thrive and I want people to be rewarded for their success. But I also business to thrive and I want people to be rewarded

for their success, but I also want to make sure that our tax system is fair, that we are able to finance healthcare, et cetera, et cetera, it's he goes into the whole thing, right? But the point is this, history tells us. You raise capital gains. The government doesn't get more revenues. Well, people can control the timing of gains.

So you don't have to pay capital gains tax if you don't have capital gains. You can avoid selling stock and people control discouraging me. So like for example, this is going to pass in 2022. What do you think is going to happen in 2021? Everyone's going to sell their stuff. That's the point. And in what do you think people do in 2022, 2020, 2020, 2021?

All of them. I'll do it. Just hold on to it. So what happens to commerce? The potential. Well, I don't know how it affects commerce. I can just say that the bottom line is it's about It's it's there should be an argument for effectiveness versus what feels good And it's about making things sound fair and punishing people for achievement and everything else to make everything equal

Equal equalized tax rates doesn't make any sense. It's all about generating revenue. It's the same thing when you talk about In the military there to I mean what you've got now is you've got people running it that think the most important thing is you have to have diversity of skin color. Okay, diversity of thought, diversity of capability, that's one thing, but it's all about effectiveness. If that makes us more effective as a fighting force, that's great. But if it doesn't, let's not do it. It's not about trying to make it look pretty.

It's all about making it be effective. And I think the tax system should be effective. We were going to talk about a state, we're talking about state taxes going up. A state taxes have never generated any significant revenue. And in fact, even corporate taxes generate less than 10% of the revenue from income or corporate taxes.

It's not the main source of revenue. So why would you want to become uncompetitive here, make our tax rate higher relative to other countries of the world and have companies decide, hey, where are we going to set up shop? We got a new startup. Should we incorporate an Ireland or should we incorporate here in the US? Well, in the US, we're going to get punished and tortured with all kinds of regulations and OSHA and unions and all this. Let's go someplace where they're more friendly to business.

I see no reason why we would not want to attract more jobs, but you've got. Our country was invented by geniuses and it is now run by idiots. By the way, on top of that, just check this out. Here's the other part. Let's not forget. US companies operating abroad who are paying nothing abroad are currently paying a 10 and a half percent minimum tax to the US, right? These are companies that are operating abroad.

The Biden plan would raise that from 10.5 to 21%. Doubling it. Doubling it? Yes. Which just so you know, there's a part of that, I don't have a problem with because I want the jobs to be more here, but still, 10.5 to 21 is still a big number. On top of all the other proposal, the Biden plan imposes a 15% tax on financial statement income of companies if they don't otherwise pay that much.

So this tax thing isn't, yeah. That's at the corporate level. That's at the corporate level. That's at the corporate level. Then any of the profits of that company, which go to the shareholders, which are everybody out there where I'll shareholders and something, every dollar that comes to you has already been taxed and now you're going to be taxed on it again. It's double taxation.

I have no idea how that ever was invented, but it was. Adam. Well, this is one of those topics, especially when it comes to corporate tax that I, you got two years for a reason. I'm doing a lot of learning. I'm doing a lot of listening. And I appreciate some of your perspective that we shared yesterday on the whiteboard. So I'm learning now the part that Pat that you said that you agreed with, I'm going to

make a metaphor here, but is it the part that you said US companies operating abroad for paying nothing abroad, pay a 10 and a half minimum tax to the US, buying to raise that to 10 and a half minimum to 21%? 21% is this kind of like that tourist tax you talked about with Florida, this is what Trump did. Trump went to people, businesses who had their money offshore and said, what, one time you bring your money, you're gonna pay minimal amount to bring your money

to US, right, one time. And if you bring your plans over, your Trump was trying to bring plans to do business in US. Don't forget, Trump was threatening businesses that if you're doing business out of the country, he was planning on making it very difficult for you because he wanted everything to be what? Made in USA, made in America. That's what Trump wanted to do.

So I don't, I understand where he's going with this part. America first versus America last. And I understand that part. I understand if you're doing a tax, you say bring your money here. Bring your business here. Do business here. Bring your jobs here. I would give an incentive rather than, you know, you know, taking a route up, bring it

here and I'm still going to tax you more if you bring it here. Business is going to say, dude, I'm not bringing it to US because it seems like the money bring it to US. Yeah, I'm not going to bring it to US. So when they say, well, I watched the MSNBC, I was watching MSNBC on the reaction to this taxes. And it was like, well, you know what all these guys do? All the billionaires, all they do is buy back.

Everything like everybody's put into the same box as if everybody does buy back. As if everybody that's rich is a bad person. As if everybody that makes money has offshore accounts. As if everybody that has a business that's a billionaire pays people seven bucks an hour. It's as if everybody that has money is a bad person. Like the way they are generalizing

with everyone being in a box, you know, there's a lot of people that understand the math, they're not good at math. They don't understand the math problem. If you took all the money, you explained this, when you explained this yesterday, here's Adam. Adam's not a guy that's sitting on $50,000 in a bank.

Adam's got money. Okay, Adam's done well for himself. And the last, you know, 15 years, he's made a name for himself. He's one of the best I would he does. He's not just a regular guy. But when people think about that specific product that he sells, they know this guy's name.

You, even Adam was like, I don't think this is fair. So think about it. Even Adam yesterday said, I don't think this is fair. So you got a corporate tax rate. I'm going to pay 28. And then if I take the rest, I'm going to pay 40. Your tax on me at 58, 59%. If you add another 11% tax is that 69%. What the hell am I working for? Well, you understand that in the 1950s, you know what the literally just going to go here. I mean, you understand what the tax rate is. I mean, double what it is now. I mean, double 90% 90% 90% 90% and anything over like 200

grand you get 90% and Reagan Reagan Reagan was like look I'm paying 90% if I if I make another movie plus the California state tax but the time he was done he was paying 99% taxes he says why should I make another movie? Well the the point with Reagan was that he would only make two movies a year because he would make a hundred granda movie. And if you made anything over $200,000, you would pay 90 something percent taxes. So he's like, why the... So that's an impediment to Congress.

You don't want to punish achievement. You don't want to punish a business who's got a printing company and he says, should I buy another printing press? And should I double and I should double my jobs and everything else? Why would I bother doing so if I take all the risk and if I win, I don't get to keep most of the money, we're already paying over 50% on all the taxes. I mean, at what point? And I ask my lefty friends, like, what, how much is too much?

What number is this too much? And if you talk to AOC, she'll say 90%. That's what she says. Top tax rate. She thinks that people forget in this country, like taxes are lower than it's ever been in the history of America. Stop it, buddy. Is history top marginal tax rates? No, no. Stop. It's 28 percent in 1988. Okay, okay. I'm saying relatively speaking, whether you're talking 20s and 30s now. Well, yeah, 20, 30 percent. By the way, I understand Kennedy dropped

it. Back in the day, it was 90 something percent. Right. The Kennedy dropped it to 70. Back in the day, it was 90 something percent. Right, the Kennedy dropped it to 70. From 1920 to 1998. But you act as if it was 90% for like years. It was. It was, it was 90% for a long time. It was. It was. It was a long time. Decay.

15 years, 90% was toppling one end now. Longer than deck. Longer than deck. Anything, any marginally, the end dollar over 200? End dollar over 200 was at what, 90%. Yes. Maybe it was 400. It might have been 400

So how did how did rich people take their money's out? What did they do well? There was a lot of deductions and things like that But they and they played obviously figured out ways to not show in there's no way in the world I mean it's not like that strategy is gonna work. Check what I just sent you. We should pull this up 90% for people about 200 for decades. Yes What year was this and who was president? Well, it was all through the 50s. Everything.

All through the 50s and part of the 40s for sure. I mean, you know, what was the common sense behind this? I don't think there was a lot behind it. Well, the text code has always been a good one. Check this out. 91% go down. Start it. Start it in the 50s.

Okay. No, not actually 50s. If go to 30s. No 30s You got 80% okay, so you got 80 1 to 90. This is what the war was going on So it started in world so 63 was at 91% so you're talking about a 25 year 90% top line now what was top line tell me what top line was Like the number that you had to make I can tell you that that in 18 showed on the bottom with top line wasn't

Go put up 1990 1960 3 Top marginal rate income see if anything comes up go ahead you were saying In 1980 I believe it was 400 grand and you paid 70% in 1980 on everything over 400. So people for this was my point Pat plus your state tax right now, whether it's 21% or 28% or 30 or 30, 40% even people forget that it was as much as 70, 80, 90% for decades in this country, which I don't mean, none of us were even freaking alive then, but how does that something like that happen? I think it's important to understand. Our friend, Democrat, K.

Go to the tax foundation, click on that. He cut it. Democrat cut it. John F. Kennedy cut it. He would not be a Democrat today. He'd be a moderate. He'd be a journalist. He'd be a Republican.

He'd be a Republican. He'd be a Republican. He'd be a Republican. He'd be a Republican. He'd be a Republican. He'd be a Republican. He'd be a Republican. He'd be a Republican. He'd be a Republican. He'd be a Republican. He'd be a Republican. He'd be a Republican. in the field of the 1950 to 2050, top of the 191% richest taxpayer claim roughly in government amounts of entrepreneur income

and claimed equal amounts of wage income and entrepreneur income in terms of business. Passive okay, got over the next 30 years as highest tax persist the percentage of entrepreneur income claimed by the rich dropped from roughly 35% in 1957.8, 1981. The likely cause was the golf between the top individual tax and corporate tax rate. During the 1950s, the top tax rate

on traditional C corporations was 52% and some 39% lower. 39 points lower than top individual tax income. Kennedy's tax on 1960, the lower the top was the rate to 70% and the corporate 40% of some of them. So very high, go over here. And he's high for me to see the bottom right here. Go ahead, yeah, right there.

Keep going. I'm listening to you. Go ahead, go ahead. What's really important is to understand that no matter what the top tax rate is, this is a nominal number, okay? There's a number there. The way people behave and what they actually pay

doesn't necessarily match this. So in years where it was 90%, if you took a guy who made $10 million, say how much money did you pay in tax last year? He wasn't paying $9 million in tax if he made $10 million. He had all kinds of deductions. He could deduct his yacht, he could deduct this. And it's marginal tax rates. I'm just saying there was all kinds of ways. So the effective could deduct his yacht. He could deduct this. And it's marginal tax rates.

I'm just saying there was all kinds of ways. So the effective tax rate is really what you need to look at. Not the actual marginal rate. My point is what makes sense is to structure the tax structure. So it brings in the most revenue. That's not necessarily by raising rates. There's no static analysis. You have to do dynamic analysis.

They make a really, really weak effort to do dynamic analysis when they change tax rates. You got people like AOC, who's an expert at two years ago. She was an expert at making bar drinks as a bartender, and now she's, she's an economist. It's insane that she thinks she knows, all we need to do this, we need to do that. I mean, how could she know any of this? I mean, she's been there 20 minutes. What does she run? I mean, she was making... You know what I wonder during that time?

What I wonder is how many companies were founded during that time? I would love to sit down. I mean, starting to know what, you know what, ladies. You know what, make a note. Let's bring on Arthur Laffer on. That would be great.

It's been about four years since we had a month. Would love to. Let's bring Arthur Laffer on. That would be great. It's been about four years since we had a month. But let's bring Arthur Laffer on. Do you want to join them? I would. They love to join. So why don't we do, and see if we can do group of four. So it's the four of us with Laffer. Let's get him out here.

I don't know if he's traveling or not. He's a national Tennessee. If not, maybe we'll call him up. Maybe we'll call him up and we'll do a call in with him with Arthur Laffer. Yeah, I just mean eighties. Again, we went into the eighties in 1980 with a 70% marginal rate plus whatever the California, Minnesota, New York, crazy state taxes were. Crazy high taxes, horrible economy.

We came out of the eighties with a 28% tax rate, okay. And the economy was booming and it boomed all the way through the nins. Clinton raised taxes, okay, because you could get away with it. Not because raising taxes wasn't what helped the economy in the 1980s. And the 1990s, it was the fact that we lowered the taxes and companies just started investing. And said, my God, I get to keep 72 cents of every dollar. I'm going to put my money back in my companies. I mean, that made a lot of sense. You have no idea how much this is.

Kai, this is the next how-to we're gonna do. We're gonna take a deep dive on taxes, history of taxes. I want every single article ever written on this. I want to read every single article written on this period. I don't give a text me 50 hours. Anything that we pull up, put a stack of articles, historically what happened with it, let's go through every single one.

Have our research guys start working on it, ASAP. You didn't know that taxes were high. No, I knew it was 90%. What I didn't know, I didn't know the timeline. I thought it was less than a decade. I didn't know it was three decades. That this thing went through. I thought it was a decade that it went through

because a World War II and, you know, World War and we're trying to collect money. It's like the 50s. I totally get it. No, I totally get the part that they had it, but I didn't know what the timeline was. I thought it was less than a decade, three decades. Three decades, yeah.

That's what's crazy. What were the results of having it that way? I mean, what did it do? Well, there's no way to know unless you have two petri dishes of not doing it that way and doing it that way. I mean, unless you have two people, two separate economies that are identical.

What is the incentive though? What incentivizes somebody to really work their tails off to do something? Well, you take away a lot of the incentive when the taxes are that high. So, so I should think that- What they did was they said, look, if you invest- What was innovation like? Well, if you invest in this, then you don't have to pay it. So, rather than pay it, you say, if I don't, if I make this dollar and I don't do anything,

I'm going to pay 90% tax. I don't believe that 90% is a 90% that you think it is. I think the viewer thinks is like you make a hundred grand. You pay 90,000. If you don't do anything, if you don't do anything, you don't want to say you don't want to write off that they probably are. Sometimes that I'm not one percent.

I'm 90% was probably like a 40% tax. Well, this is probably what the effective tax rate is was lower again with individuals, even companies. My point is that if you make a million dollars and you keep it, you're going to pay $900,000 in tax, if or next million dollars, the end million dollars. If you take that million dollars and you invest and you buy another printing press, then you can deduct it. So you don't have to pay.

So basically, deductions were worth a lot more. Nowadays, oh, it's deductible. But you mean deductible? Yeah. Because I saved 30, 30 cents on the dollar. You don't have to. You still cost money. In the old days, if something was deducted, the whole sum was free.

Go to corporate tax rate, history of corporate tax rate, and then go to history capital gains tax rate. Go to history corporate tax rate. Same exact thing you did, do corporate, and let's do, yeah, go ahead, and pull it up, yeah, go perfect. So let's take a look at this. Go years, does it show you years or no? Yeah, actually, I actually looked at this yesterday, and in the 40s 56 look at that 10% nothing

What do you mean 10? Cortboxes what 10% and in the 30s 40 and then after World War two the game changed and went up to as much as 50% And then it goes what would a high we've been a high center world for a long time We have the highest corporate tax and yet it doesn't bring in that much money now go to capital gains history of capital gains taxis capital gains Go ahead click on that. Let's see what comes up. Can I just make a point? Yeah, go ahead? You're doing this this is this is sort of Look go back and see if you can find it saying it's a socialism and Biden and Bernie

But people don't understand the history of taxes. It's been way higher than it is. How much is too high? I mean, one cent is too high, but it is what it is. What's a number that are above which it's unreasonable? Well, I mean, what's the state tax in Illinois? 5 percent. Okay. What's the state tax from Florida and Texas? I've never paid state tax in my life. I've only been Florida. So for me, one percent state tax is too high. For you, five percent is fine because you'll stay there. I'm talking about federal income tax. Okay. state tax is too high. For you, five percent is fine, because you'll stay there. I'm talking about federal income tax. Okay. How much is too high? Whatever your marginal tax bracket is, what are your?

I mean, I don't know what the number is. 50% too high. Look, everyone wants to keep their money, but how much is too much? I don't know. How much is the reason? I don't know. How much of the rich pay? Interesting.

I don't know. 70% too high. You're not going to say 70% too high. Yes, it is too high. 60% too high. But that's, goes, goes, goes back to my point. It's everyone wants the harp on taxes these days as if it's, it's just something that just appeared because of socialist Bernie Sanders or because of Obama. This was something that was going on for three to four freaking decades. I don't know the only question I got is the following you know You see a parent who's like what'd you to go? Where do you go? What are you going? What are you doing like overly hovering over the kids?

Girl turns 18 years old. It's 48 guys without you appear like that screw you I'm dating the tattoo guy with you know tattoos on his forehead and I'm dating the tattoo guy with, you know, tattoos on his forehead and drinks, ecstasy, party, you think you can't say shit on, I'm living with them and I'm moving out with him. Say something, right? Okay. So we don't understand that for two decades, right? The consequence of being an overbearing parent, right? We also don't understand the consequence of taking away incentives for innovation and entrepreneurship. We started the segment you talked about Walmart versus idiots. Yeah, more on. Well, Walmart versus Morons. Government screws up just about everything it touches. Okay, it's incredibly ineffective.

It's, you know, we hear about the $900 toilet seats and the $700 hammers and all, you know, everything they do is very, very inefficient. We talked about it yesterday. The Department of Education, billions and billions of dollars that spent on the Department of Education. This department did not exist when I was in kindergarten. There was no such thing as the Department of Education at the federal level, and yet we still got educated, arguably better, our test scores were actually better in those days

than they are now. So they've accomplished nothing. You get the war on poverty. They've spent trillions of dollars trying to solve the poverty problem, and yet there are more people below the poverty line than there were when they started to try to help people that were in poverty. Listen, the solution is different. The solution is not, hey, we're going to give you stuff and we're going to take from people

who have it and give to people that don't have it to try to equalize things and to try to equalize outcomes. The answer is people understanding what the real message is. We all want to solve the problem. I don't want any children to be hungry. I mean, you know, I'm not, I'm not, there's no lack of compassion or empathy on my part. I just think the answer is to show them how to,

you know, teach a man to fish rather than give him a fish, you know, for a lifetime. You've heard that saying. And so I think it's really important that people get the right message because nobody cares about you except you. If you think that someone else is going to make your life better, if you put your hope on, if you think that your life is going to get better or your only hope for a better life is something

the government's going to do for you. Like I heard last week, oh, help is on the way. Help is on the way. We're here from the government and we're here to help. Are you fricking kidding me? I mean, really, seriously, if that's what you're hoping that's going to make your life better, you are going to be miserable the rest of your life waiting for government to help you. I mean, it's just not the answer. And so government has gotten way, way too big and now I have to figure out a way to fund it. We can't, we can't raise enough money in taxes. They can't, if they took 100% of the income of billionaires and the billionaires didn't change their behavior and leave the country and go somewhere else, they just decided to pay it

bend over and just take it it still wouldn't pay for all the crap they want to pay for so we just keep printing money which is going to lead to inflation and it inevitably has to because the the value of our dollars gonna go to nothing this is sort of proves why people are absolutely in love with wrong rig and because the game changed when

he showed up in 1980 But his thought his his his programs and his policies worked. He was correct Well did trickle down economics actually work? Absolutely. Yeah, it did did did did did wealth did the wealth gap go up? Yes, but the bottom got lifted so the question is If you let's say you're poor and you're making no money and I could double your income Okay, but I'm gonna triple the income of Elon Musk. So I'm going to double your income, but I'm going to triple Elon Musk's income, thereby raising the wealth gap, the income

inequality is going to be greater than it was. Would you, you're the person that's making 40 grand and now you can make 80? Would you vote for that or you say no, that's bad because, because that's going to make Elon Musk even richer Well, I'm not a hater so I mean if it's gonna increase my income I'm not gonna get mad at the person So what's the problem is the problem that Elon Musk makes too much or the problem that the poor make too little? Yeah, I got to tell you man. This is This is a topic. I've never been this excited about Invest in it. Yeah, I can see it. I can see it. You have

an idea how excited I am to take a deep dive into this topic. I'm excited to learn from what you're talking about. We got to get art in the room. No, I've had Laffer before. And we've looked at him and I'm the weird guy that enjoys interviewing people and talking about flipping taxes. I actually like talking about taxes and interviews. Talk about why I'm a great CPA, but not a CPA. I may be an economist, but to me, it's a guide that they introduced me and saying, today my guest is an entrepreneur, a content creator, an author, and an economist.

Thank you. And he's an avid card collector. I'm like, an economist. First time in my life I've been called an economist. I'm like, okay, I mean, if I, you know, I had to do it. And you did correct him, you're right. I think the focus should be on driving toward educating

the people who make policy toward what actually works. Not what sounds good, not what sounds fair. Like what actually works. But I tell you one thing here, like I agree if a war happens and shit hits the fan, I do agree. We got it, we got to ship into the country. I do agree if some happens. I'm assuming the war is like Let me let me want to set up a war just like something about and let me tell you how I process that if you're running a company

And all of a sudden the company goes through a catastrophic issue that you're facing say technology say something happens But you know you can recover from you got to sit down say guys You on shares in a company you on shares in a company. I want shares in a company, let me tell you what I'm doing. Here's what I'm doing. My salary of quarter million dollars, I'm bringing it to zero for the next 12 months. Okay, I can't afford that. I think you can afford that as well. I think you can afford that as well. I'm not telling you to do it. All I'm telling you is why don't we come together and then you say, honestly, I'll go for 12 months on zero. Great. I am as well. I'm all in because I think we can build this thing together. FedEx. You know the story of FedEx. Yes. Then you go to your employees and you say, Hey guys,

guess what? Here's what we're doing. Next 12 months, I'm showing you my salary. I'm going to zero. And so is Byron. So is Adam. Here's what we're asking for you guys. We are asking you to take a 25% pick up the next 12 months. Here's why. If you don't take it, we totally understand. We're going to do our best to try to pay you, but we may be cornered to having to let go half of our staff. We don't wanna do that. If you stay patiently with us, we're willing to give you some warrants, whatever,

to be able to get a long-term thing going, right? I understand if a catastrophic event like that takes place, I fully get it, that we have to kinda chip in and help out. I fully understand it. What happened the last 12 months? Does that qualify as that for COVID, where we printed $5 trillion, $40% of all the last 12 months? Does that qualify as that for COVID, where we printed $5 trillion, 40% of all the money ever printed? Does it qualify for us to go into that direction?

We keep printing and all this stuff? See, then the challenge for me becomes the following. Here's where I have a pramwood buy run, and I need your help as a therapist. Here's where my pramwood comes. My pramwood is with it is the following. If we're doing business together, I trust you. I actually really trust you. This is not a script. I trust you as a human being a lot. If you

are not wearing the business together, you two care recounting, I wouldn't, I'd be like, dude, I know what you're going to be doing. I trust you. I trust this guy in business together, right? He's going to be a guy that's going to be all in. And your motive is gonna be to help use every penny in the best possible way to help us stay afloat. So three years from now, we're gonna be big, right? Over come back and say, guys, we build a company, we're doing good now. Same with you.

I don't trust who's managing the money today of the taxes that we're paying them. I just don't trust them. How could you? I mean, that's my problem. The problem for me with taxes isn't, I don't mind paying it. I Want to bulk it up my senior day of the day and when you want to have a cup of coffee

Gotta pay to say 11.79 your parking spot and you pay this machine that takes you three minutes to frickin' do it. It's really slow You get to take it you go there and you leave right takes about three minutes to do it I made a video and I said here's how taxes ought to be pay things you use. That parking space, I have no prompt paying taxes for that because I'm about to use it. Well, that's the average person. That's going to look even just someone who makes 60 grand. Look what they pay. It's the federal government.

It's so honest to me. And you say, okay, well, I know I'm paying. What about school? Well, schools have nothing to do with your federal taxes. What about your fire department? That's not federal taxes. Your police department is not federal taxes. If federal taxes go for the military, they go for roads and bridges. They're you know,

keeping a stable currency. But I mean, think about what you pay and think about what you get. And the average person looks and says, this is a ripoff. And it's a ripoff because the government doesn't spend money efficiently. They're not good managers of money. The government, I mean, John Stassel did a really nice piece on this public bathroom. Do you ever see it? He's in his office. Stassel's a beast by the way. Yeah, he's a beast. Put him on the list. Put him on the list. Listen, be great to get in the room. I'd love to get him on the podcast. I'd love to come in here. He showed this little small bathroom was like a box, you know, made out of bricks And there was a men's and women's bathroom in this public park and they were interviewing people

Stassel was interviewing people. What did it cost to build this do you think? The first case is, I don't know, $10,000 obviously didn't know. Somebody said $70,000, $120,000. The guesses were, you know, about what it would be. And I figured my house costs, my house is three times this size and that cost this much. So maybe a third of that or a half that cost $2 million to build this bathroom. That's the way government works. It's just the way it is.

Is that where you're going with your point path? Yeah, kind of. I thought so. That bathroom analogy is that. Yeah, I don't trust where the money's being spent. I remember when we were in the army, that we showed the statements of what it costs, what we paid for, simple bolt.

Like wait, is this so much we're paying for? Is that that's how much we're paying for? I said, dude, that's, if I go down the street, I pay a pay, 30 cents for that. How much will we pay in five dollars? Why? Why are we in five dollars? Why? Why are we paying five dollars? There's no accountability? There is no I totally agree but it's also sort of the biggest problem with defense spending as that we I mean you were in the military You get it when you have you have you have spending on defenses of service. I don't disagree either there

I again going back to it. I don't trust how that money is being used because there's no accountability to know how they're using that money. Putting people in charge of decisions where they have no accountability for being wrong is a problem. And that's what you have with politicians. They just find a way to do it. So let's finish with one topic here that we, it's not even on the list, but I think we talked about it yesterday, so we may as well bring it up. They're gun control, huh?

You want to do gun control? What do you want to do? Derek Shovan to do gun control? What do you want to do? Derek Shovun or gun control? Which one do you want to do? Oh, wow. By the way, did we, did we do that? You can do that.

Did we even talk about infrastructure at all? No, what do you mean infrastructure? Meaning we talked a lot about the taxes. Yeah, but we didn't talk about. I'm all for what the point of taxes. Why is that? We did come in one of money is going to be going towards.

OK, cool. Yeah, we did. We said, I don't know if you know this 80% of Americans are in favor of taxes. Why is that? We did come and what a money is going to be going towards. Okay, cool. Yeah, we did. We said, I don't know if you know this 80% of Americans are in favor of infrastructure. 80% of Americans. So they're also in favor of children. Are you not in favor? Are you not in favor of your own? Absolutely. Absolutely. Our toll is our ports, our bridges. They know what the money is going to. You can bet when the government doesn't talk about taxes. I'm talking about taxes. I'm just saying, look, you look at China. They're building railroads and they're high speed rails

and everything. But they're doing it with lower taxes than what we're paying. They're doing it with their, their, their, even, this isn't even taxes. This is taking on more debt. Yeah. I mean, if anything, I think that, look, I don't know if I've ever said this sentence in my life.

I actually do agree with AOC here that Two trillion dollars is not enough for this plan Especially and that's over eight years. That's an over a long-term plan or over a long over the long term But we just fucking printed 1.9 trillion dollars and gave them out to me checks people making 75 grand on I'm saying only 10% of that went for that kind of stuff. Okay, but And then more of it went elsewhere. However, that was this one year and we printed out five trillion Bailing out failing state I'm just saying that if we did five less to 10 no, I'm saying that that was that was money. I was I'm just saying

Infrastructure in this country closed you on doing $10 trillion. I guess not what I'm saying That's not what I'm saying, but that I'm saying even that's $2 trillion is over we just gave away $2 trillion. I know. We just gave away 900 million. I'm saying I don't agree with $10 trillion. Hear me out now. Hear me out. I don't agree with this last stimulus. We need to improve our infrastructure.

We do need to improve our infrastructure. Where does the money come from? Okay, but we don't have the money. Apparently debt right here. More debt. What story you want to go to? I'll leave it up to your to guess, do you want to do Chauvin or do you want to go to gun control? You choose. We can go to Chauvin. Okay, let's go to Chauvin. So Chauvin, here's what happened with Derek Chauvin last page, let me go to it page nine. Here we go. Derek Chauvin trial is the biggest court on case of the stream and TVH CNN. From a media perspective, the trial

of former Minneapolis police officer Derek Chauvin will be the biggest trial of streaming TVH. People will be watching on streaming TV services like Longcrime, as well as TV networks like HLN. Yeah, it's on 24th. If it's on the whole thing. 247 CNN.com will carry a live stream at all times. ABC will have a wall-to-wall coverage on it. ABC live new stream and platform. CBS will make it available to feed that's Minneapolis station and the list goes on.

Everybody's covered in a VJ almost the last time. This is an opportunity. Obviously media is gonna get a lot of eyeballs and traffic's coming to them. So in a way, their business motto, they have the next story to go to. But what are you things gonna happen with them? Guilty will be... I don't know i would say that the the problem is that the average person saw what the media showed

the average person is on forty six we saw it clearly looked like excessive force it looked horrible it looked like he killed this guy the question that the people that the average person doesn't necessarily understand the law in minnesota and in order to convict him of what they're charging him with, the question is, what do they need to prove beyond a reasonable doubt? The question is, if they have to prove that he had the intent to kill George Floyd, I think that he has a good chance of getting off because I don't know that they can prove

his intent. And I don't think he's, I don't think he planned it. I don't think he, when he was called to this scene, he says, Oh, I have a chance. The other thing they haven't proven is any racism, just because he's white and the other guy's black doesn't mean it's a racist event. Look, look, look, racist. I mean, most people were completely appalled by it as I was when I saw everybody. How could you not be? I don't I think there was universal agreement, which is what I don't understand is why there were all these protests. Nobody was defending Chauvin initially, but now that they're learning more, the autopsy showed that the choking wasn't necessarily the cause of death.

And all you need is one juror. I mean, I'm a lawyer. I understand this. You just need one juror to say, I'm not 100% sure. And if you're not sure, you can't convict just the way our system works. So I don't know what they have to prove. I don't know. I don't think they went for first degree murder which probably would have required

hey had the absolute planned it and intended to kill this guy do you think that there are children intended to kill george floyd i don't know i mean i think that's what you woke up that morning i don't think he was like let me go kill a guy let's just let's just go out and kill somebody especially if he's the wrong color i don't think that's the way i mean did listen it was it was the depraved what are the autopsy say i think the autopsy city had lethal amounts of a combination of two

drugs including fentanyl in the system and i i believe there was also some evidence that came out that he had some fentanyl in his pocket or his hand when they were going to arrest him and he put it in his mouth and ate that on top of what he was already high from all of the the accounts that the witness is said he's in the store and he apparently passed a counterfeit bill and whatever, it all happened and it happened very fast. I cannot imagine that he intended to kill him even as he was doing it because he knew that 15 people

on the sidewalks videoing the guy, he knows if he kills the guy, he's gonna ruin his life. Like, why would he do this? He got wrapped up in the moment. I don't think he had the intent to kill. If anything, maybe a negligent homicide, maybe manslaughter. Maybe manslaughter.

I don't know what they're charging with. I haven't looked at the details. I think if they're not careful about it, if they get too aggressive and try to charge him with too much, I think they're gonna lose. I think he gets off if they charge him with too much. If they go to the lower charge, they might be able to get him.

But I think politically this is gonna be very dangerous for our country. And that's where I'm going with this is for our country. Again, I don't know where this trial is headed. I'm just thinking of optics. We also what happened when OJ got off or when the Rodney King for the sake of our country and for the sake of our cities and for the state again optics here I don't give two shits about Derek Chauvin he better be charged with something like this guy I don't I whether he had drugs in a system or not. I don't think George Floyd would have died that day

Unless Derek Chauvin's well that mean that's not on his neck. That's actually going to be a matter of fact That they're going to find out but neither did I think of America. I don't I charge this mother's sucker with something. I if you let this guy off something bad is going to charge do things going to get I hope so. You don't hope so. Do you think that I get convicted? Yes, I do. I think more likely than not, you will, but not necessarily because the facts show he should

be convicted of what he's charged with. I think the jurors are going to weigh exactly what you're thinking. Say, if we let this guy off, we're, we're going to have blood on our hands. We're going to, there's cities burning, people are going to get shot up and you might say, you, that's not, that's not really, that's not appropriate. That is not, that's not where our system works. But again, I'm not defending this guy. This guy is not a good guy. You think he's going to get off?

I think he is. You do? I think he is and it concerns me. I think he is going to get off. Why does it concern me? Why does it concern me? Oh, what's the concern? Are you kidding me? America's already the way the media is selling

how divided we are. You know what's going to happen if he gets off? It's a spark. But I think he's going to get off. It's going to be ugly. I think it's going to get off because the autopsy. Listen, I just think about as a lawyer here, listen, this is what the autopsy says.

What do you want me to say? Yes, you know, $25 million paid to the family, you know, all that stuff that's already been done, et cetera, et cetera. Yes, we're going to get rid of them. Yes, he'll be a limo driver for the rest of his life type of a thing. The same story with the guy that did what he did to OJ. Yes, what he is today, he's a limo driver in LA. What the guy that did what?

The cop, not OJ, I'm sorry, with Rodney King. The same thing with the cop that did what he did to Rodney King. You can pull up his face. He was on TMZ. He's a limo driver in LAX. Okay, it's embarrassing what the guy's talking. He's like, hey, how's the field known what you did? You piece of shit.

You're now a limo driver. How do you feel about it? How do you feel? He's taking somebody's. So yes, the guy's gonna have a miserable Life for the rest of his day kill right they can't beat him up. I can't believe they haven't taken their Chris Rob his name. I forget his name. What was the officer's name? The name is a pretty If you go to

No, go go back and put stacy cool limo driver. I think that could be it put Stacey Kuhn limo driver limo driver Maze they haven't canceled that canceled that video that Chris rock did how not to get your Limo driver there you go. Remember that video the Chris rock one how not to get your ass kicked by the police Have you seen that no I have not when we're done you should watch it. I will definitely watch it So yeah, I think it's gonna be, I think he will be released. And I think, oh my gosh, it's not gonna happen. I don't see it.

I mean, I just forget about him. No, forget about him. This is not about him. This is about America. What's gonna happen? Flames. Because what he did eight minutes and 46 seconds, and you watch it and it's like, dude,

there's, you know, and then you watching the other people that are recording, like even what happened with that lady that got hit up by this guy who went in, dude, you know, and then you watch and the other people that are recording, like even what happened with that lady that got hit up by this guy who went in, what do you call it? Knocked the girl out, the Asian lady, they just hit her with the camera, they kicked her in the face all of a sudden. Later on, they found that the guy stabbed his own wife

or his own girlfriend and killed him and he went to prison for that and guys are standing on the side not wanting to do anything because they're worried if they get caught, what's going to be set all this stuff. Yeah. I think this is catastrophic. I hope, you know, obviously we have laws that we have to follow and it's been set up

in a way that you have to be innocent until proving guilty, et cetera, et cetera. And guilt must be proven beyond a reasonable doubt. If there's a reasonable doubt, then he gets off. They have it here, Adam. Don't think they have it here. And I think there's a part that they're charging him with that's a very good point if that goes that route race for impact it will be a very interesting midterm election I think this is going to be all they talk about uh...

what months from now and if it takes that long how long you think it's going to take uh... it could take I don't't know, going pretty quickly so far. Okay, all right, we'll see. Yeah. Anyways, hey, if you enjoyed, buy run on, I love having buy run on because buy run's perspective is amazing. Buy run's a guy that I love talking to him and I connected 10, 11 years ago and ever since then, it's turned into friendship.

So if you enjoyed it, smash the subscribe button. If you want him back, comment below of what you loved about Byron because Byron actually will read all the comments tonight at midnight at his hotel. I'm being serious. He's going to read all of it. So give him a shout out. Let him know what you liked about it. Parts for me if I need it. And if you want him back, let's get, let's get him to comment below about him coming back probably in the next month or two. We'll get him back here as well. Take care everybody. Bye bye, bye, bye, bye. Let's get him to comment below about him coming back probably next month or two will get

back here as well. Take care everybody. Bye bye. Bye. Bye. Bye. Bye.