The Daily Show: Ears Edition - Jon Stewart on Trump’s Heel Turn on Zelenskyy & Elon's Interview Challenge | Matthew Desmond
Episode Date: March 4, 2025Jon Stewart dives into the Oval Office meeting between Trump, Vance, and Zelenskyy, which shocked viewers more than John Cena's heel-turn. Plus, Jon calls bulls**t on Elon Musk's challenge to an inter...view. Sociologist at Princeton University and Pulitzer Prize-winning author of "Evicted,” Matthew Desmond sits down with Jon Stewart to discuss his latest book, “Poverty, by America.” They talk about America’s welfare state, how society benefits from poverty, the opportunity to close the poverty gap if the top one percent paid their taxes, and empowering the poor with better choices like building worker power, and expanding housing choice. They also highlight how Democrats need to get more serious about economic justice to fully commit to poverty abolitionism.See omnystudio.com/listener for privacy information.
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This is The Daily Show with How are you? My name is John Stewart. Thank you!
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We've got a great Joe Boy tonight.
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This is what caused all the commotion.
They glued it back together.
Where is it?
They glued it back together.
Boom.
That's all.
That's it.
That's what nearly brought an old man down.
A tiny puncture vial.
A tiny puncture vial.
A tiny puncture vial.
A tiny puncture vial.
A tiny puncture vial.
A tiny puncture vial.
A tiny puncture vial.
A tiny puncture vial.
A tiny puncture vial.
A tiny puncture vial. A tiny puncture vial. A tiny puncture vial. A tiny puncture v boom. That's all that's it. That's what nearly brought an old man down a
Tiny puncture wound that all the blood in my body went. Let's go
We got a hell of a show tonight my guess sociologists and author Matthew Desmond is gonna be
They love him. They love him. Fresh off his upset win as best supporting actor.
And the crowd goes wild.
But first, if I could just pick up something from the last time that I was out here.
I made a bit of a critique of Elon Musk and the Doge program. Let me reset the scene.
Um...
Um...
Uh...
I am not allowed to have big-boy mugs anymore.
There was an actual meeting of the safety department
of Paramount and Viacom that was like,
no more ceramic for Mr. Stewart. So they wanted to baby proof. So this is...
Anyway, we had some critiques about Doge after the show Governor Musk tweeted or exed, I guess, that he would like to come on here and talk to me
as long as the show airs unedited.
So I thought about it,
and after a prayerful week with my family...
Well...
A family. Well, a family. Family Hall Pass situation.
You don't want to know. You don't want to know, and quite frankly, I don't want to know.
But after thinking about his offer, I thought, you know, hey, that's actually how the in-studio
interviews normally are.
It's unedited, so sure.
We'd be delighted.
As a matter of fact,
let me sweeten or unsweeten the pot.
The interview can be 15 minutes, it can be an hour,
it can be two hours, whatever.
I'll be honest,
I don't think this network makes any other programming.
So we can do whatever the f*** we want as long as we wrap before the new season of South
Park which comes out like May or June of 2026.
So I am game.
I think it'll be a very interesting conversation. But then I checked X again and I saw another tweet from Elon
because you can't not. And he then said after saying I'd like to come on John
Stewart cannot be trusted and that I am a propagandist and you give me too little credit and that I am not bipartisan.
Again the guy who custom made his own dark MAGA hat that he wears to opine in the Oval Office with the president who he spent $270 million
to elect, thinks I'm just too partisan.
I'm really not sure what he thinks bipartisan means, but it's generally not.
I support Donald Trump and also Germany's AFD party.
That's not bipartisan, that's just the same shit.
So I guess what I would say is this.
Look, Elon, I do have some criticisms about Doge.
I support in general the idea of efficiency and delivering better services to the American
public in cheaper and more efficient ways.
And if you want to come on and talk about it on the show, great.
If you don't want to, sure.
But can we just drop the pretense that you won't do it because I don't measure up to the standards
of neutral discourse that you demand and display at all times? Because quite frankly, that's bullshit.
You know it, I know it. Bullshit.
So let's get to the big story.
Americans are still trying to process
the global realignment
that has occurred following
the disastrous Oval Office meeting
between the President, J.D. Vance,
and Vladimir Zelensky.
What happened, they say? Are we still America,
they say? Who's side are we on,
they say? It's complicated.
The best way that I can explain what happened
and show Americans how to process this new reality
was with another shocking turn of events from this weekend.
On Saturday night at the Elimination Chamber,
the WWE shocked the world as John Cena turned heel,
joined the Rock and attacked Cody Rhodes.
Now,
if that does not immediately explain to you our current geopolitical climate,
you must have grown out of watching wrestling
through the normal course of aging.
I, on the other hand, understand this in my bones.
This explains it, folks.
All of your shock, all of your disappointment,
all of your anger, it's in there.
It's in the squared circle.
You see, Saturday night, oh, we're doing this.
Saturday night, John Cena,
the good guy of professional wrestling, Mr. Hussle, the champ,
the man who stood for everything,
truth, justice, the guy who literally holds the record
for the most Make-A-Wish Foundation meetings of all time.
People would get cancer just to meet John Cena.
Last weekend, Cena flipped the script
Last weekend, Cena flipped the script and went from being a face, a good guy, to a heel, a bad guy.
Now, if you don't follow professional wrestling, and I'm guessing if you watch this show, you
do not.
I'm judging from, all right.
But let me continue to bore you with this metaphor.
So here's what happened.
The current WWE champion is one Cody Rhodes.
Seven people say around. Cody Rhodes is the people's champ. Unquestioned bravery.
He stands in for Zelensky in this metaphor.
Couple of weeks ago, The Rock,
the now evil owner of the WWE,
Putin in our story,
made Cody Rhodes an offer.
The one thing that I want
more than anything in this world
is that I want your soul.
Who did? He wants Zelensky's soul. But sir, but sir, I am smaller and weaker than you. It will take incredible bravery for me to protect my soul and the soul of my people.
But luckily I am not protecting my soul alone. for I have the support of the great John Cena!
So, Cody Rhodes Zelensky told Vladimir Putin,
Rock, no soul for you, mother-fucker!
And that's when they met in the Oval Office.
America went to hug Zelensky, but when America looked up, somehow Putin
had given John Cena the international sign for its time.
And rather than repudiate Putin, America smelled what the Rock was cooking.
And through that borshty haze, America delivered the nutshell, nut shot to the hopes and dreams
of Ukrainians everywhere!
And then for no reason, America jumped on Zelensky
and started punching him in the face as many times as he could.
Too simplistic? No?
This is it!
Am I being too simplistic, assigning to the delicate art of Realpolitik a scripted outcome?
Perhaps.
But judge for yourself.
Putin broken 25 times his own signature.
25 times he broke his fire.
You're in no position to dictate what we're going to feel.
You're not in a good position.
You don't have the cards right now.
You're gambling with World War III.
You're gambling with World War III.
Have you said thank you once this entire meeting?
We gave you through the stupid president $350 billion.
You're either going to make a deal or we're out.
This is going to be great television, I will say that.
It sure wasn't.
But isn't that what you want from the high stakes diplomacy
and real life urgency that ending war demands?
And you know, even reporters got some nut shots in.
Why don't you wear a suit?
Oh, shit!
No, you didn't!
Let's do the dozens.
Oh, Zelensky, you're so poor and war-torn,
you're down to one Brooks brother.
Oh, shit!
You've so war-torn, you've given up the meaningless protocols of business attire.
If you think I'm pushing this metaphor, look at the stunned faces in the crowd at WWE
when John Cena turned heel. I now present you the equally stunned faces of those watching this oval office pay-per-view.
Scott, I've never seen anything like that.
You've never seen anything like that.
Wow.
Just wow.
That was something.
Caitlin, I want to start with looking at her face.
I mean, Christiane. You broke Christiane Ongampour.
The woman wanders unprotected through Taliban-controlled Afghanistan.
Doesn't give a f***.
Ten minutes of Trump diplomacy and she's like,
is anyone else dizzy?
My A1C is plunging.
Now, of course, there is one big difference between the WWE and the world of politics.
In the WWE, they seem very clear on who the good guys and who the bad guys are.
Nobody walked out of the match pretending that the guy who got nut-shotted was the bad
guy.
There was this attitude of ungratefulness seeing his smirk, seeing him roll his eyes,
seeing him refer to JD Vance, the vice president, as JD.
He shows up in his equinox chic outfit to the doggone oval office.
President Zelensky was also antagonistic and frankly he was rude.
So impertinent, so disrespectful.
Tone deaf going in and fighting back, getting sassy with the president and the...
He was sassy.
He was sassy.
He was sassy.
He was a real scallywag.
You know what I would say if I was there in the Oval Office with him?
I'd say, you better watch your tone, mister.
I think he's a real scallywag.
I think he's a real scallywag.
I think he's a real scallywag.
I think he's a real scallywag.
I think he's a real scallywag.
I think he's a real scallywag.
I think he's a real scallywag.
I think he's a real scallywag.
I think he's a real scallywag. I think he's a real scallywag. I think he's a real scallywag. I think he's a real scallywag. I think he's a real scallywag. You know what I would say if I was there in the Oval Office with him?
I'd say, you better watch your tone, mister.
I think it was Churchill who during World War II was roundly criticized for being a bit lippy.
Excuse me, mister, we'll decide where you're going to fight them,
whether it's on the beaches or not or whatever.
Poor guy, Zelensky, his nation was invaded.
He's against all odds held off a much bigger army for three years.
And we're like, would it kill you to smile a little more?
Dress a little nicer.
You're a beautiful country.
Nobody would know.
Show off what you got.
You know what I'm talking about?
Maybe some of those rare medals I've been hearing some about.
But of course, if you criticize Trump's very clear hostility
to Zelensky and very clear appreciation of Putin
as being suspicious or a repudiation of American values
as they've been outlined since World War II,
Trump's people quickly set up straw men north of Richmond.
If there are no negotiations, what is the alternative?
Another four years of war?
We're not saying there should be no negotiations.
We're just surprised at the side you seem to be negotiating for.
President Trump recognizes the urgent need to end this war after three long bloody years.
President Zelensky has different aims in mind.
Yeah, both ship, I'm pretty sure everybody wants everybody
wants and Hitler wanted to end the war just not the way it
ended.
You're pretending that we have
the suffering and loss and death.
But you know what would be even worse?
World War III.
Yes, I'm sure your heart, in quotation marks, is breaking.
But in your little zero-sum formulation, you are correct.
Total capitulation by Ukraine, loss of all their mineral wealth and no security guarantees,
is still better than World War 3.
For now.
But you know, everything sounds better if the only other option you're presenting us
is World War 3.
You can listen to the Amelia Perez composer freestyle another f***ing verse at the Oscars
or World War Three.
Eventually, you will agree to hear another verse.
Buy a hair.
These guys are so f***ed up, Trump's ass,
they can't even admit that this meeting was Russia's wet dream.
The world is now watching how Trump behaves and acts when he's pressed.
I thought he stood up for America, that we're good people, we want to help you, but we're
going to be respected.
So I think Moscow is probably more afraid of Trump than ever.
Yes, people get terribly afraid when someone viciously takes their side.
They must be quaking in their...
What do Russians wear on their feet?
I don't.
Is it shoes inside other shoes and then they get very small?
Until the last shoe that you take off is a tiny shoe and you're really, you're positive
this has got to be the last shoe.
But no, you're a little baby tiny shoe.
You're a little baby.
You're a little baby tiny shoe.
No, look, you don't.
You don't.
You know what, Putin must be quaking. Let's get the, this is the actual Russian state television view on Russia's fearfulness.
The new administration is rapidly changing all foreign policy configurations.
This largely coincides with our vision.
America said, do whatever you want.
It has nothing to do with us.
It's such a pleasure to watch.
Basically, he is taking our bread and butter.
We wanted to saw the Western world into pieces,
but he decided to saw through it himself.
Not only are the Russians not fearful,
they're f***ing delighted.
Do you know how hard it is to delight a Russian?
There's only two ways to do it.
Break up the Western Democratic Order or...
...bear on roller skates.
It's the only two ways!
Or social media dash cam death.
Three things, really.
Look, none of this is to say
Zelensky handled this meeting well.
Everyone knows by now Trump's love language is subservience.
If he calls your wife ugly, you praise him.
If he calls you whittle, you run his State Department.
And if you're a foreign leader
who wants to be on good terms with America,
you gotta butter Trump up like he's Texas toast.
British PM Keir Starmer knows how it's done.
It is my pleasure to bring from His Majesty the King a letter he sends his best wishes.
It's an invitation for a second state visit. This is really special. This has never happened before. This is unprecedented and I think that
just symbolizes the strength of the relationship between us. So this is a
very special letter. That's how you do it, Zelensky!
It's a letter from the king!
It's got a wax seal on it!
It was brought here by Harry Potter's owl!
What a delight.
Ooh, the king is throwing you a ball.
You'll be the belle of the ball,
and then I'll sweep your chimney.
Ooh.
Oh.
Oh.
Oh.
Oh.
Oh.
Oh.
Oh.
Oh.
Oh.
Zelensky shouldn't have gone in there with,
Russia hasn't abided by any ceasefire agreements, so we can't trust him. He should have gone in there with Russia hasn't abided by any ceasefire agreements
so we can't trust them.
He should have gone in there with a desert cart and a Keefe Hotel opportunity.
So this meeting has deeply wounded America's alliance with Ukraine as well as the rest
of Europe and the punditocracy.
It's having a hard time figuring out the strategy.
I worry that the president is actually not interested in a
deal about Ukraine and and but I don't understand it.
The question now Jim is what happens in Europe.
How does this make America great again it just does not
make any sense.
You poor.
It makes perfect sense if only you watched professional wrestling.
Do you get it?
It was a heel turn.
I'll explain it again.
It was a heel turn designed to create the alliance Trump always wanted in the first place.
What's to understand?
Trump and the Republicans like Putin better.
Just listen to Putin!
The radical neoliberalism destroying traditional values, the obsessive emphasis on race,
modern cancel culture, it turns into reverse discrimination,
reverse racism.
They invented five or six genders, transformers, trans.
You see, I do not even understand what it is.
Share toilets for boys and girls.
Cats marrying dogs.
Will and grace reboot? I mean come on! It sounds like Putin is
primaring Marjorie Taylor Greene from the right. A woman who by the way gives up the whole point
of this realignment. The Ukrainian government is attacking Christians. Russia is not doing that. They're not attacking Christianity.
As a matter of fact, they seem to be protecting it.
By bombing other Christians.
So everyone's wondering,
why isn't Trump aligning himself with the West?
In his mind, he is.
Western civilization, not Europe.
To most of us, Russia is not that,
because we, and historically everyone,
has used the West to mean Western values.
Europe represents the expansion of liberties
advocated by great Enlightenment thinkers
like Locke, Voltaire, and Rousseau.
But to MAGA, this is Europe.
It's f***ing gay.
Super gay.
When MAGA talks about Western civilization,
they mean the Knights Templar.
Still pretty f***ing gay.
I gotta say.
But excitingly so.
But that's the thing.
It's not democracy versus dictatorship
or capitalism versus communism anymore.
It's woke versus unwoke.
And Russia is not woke.
They're very tired.
They're comatose.
It wasn't decided in a particularly volatile meeting on Friday.
You've got to give credit where credit is due to MAGA architect Steve Bannon.
They've been working on taking out the EU for a while now.
It's a global revolt.
It's a zeitgeist.
We're on the right side of history.
The beating heart of the globalist project is in Brussels.
If I drive the stake through the vampire,
the whole thing will start to dissipate. We'll call it the movement or the cause or something
like that. And that's literally when we take over the EU. Holy shit! What a concise, centrally planned
social engineering scheme. But here we are, the end result of a scripted arc that culminates in America betraying its old alliance
for the lore of a strongman partnership
that carves up the world's rich bounties
and places classic democratic values
behind transactional convenience.
So say it with me, conspiracy theorists.
By design, it's a new world order.
So Europe, sadly, if I may...
When we come back, Matthew Desmond's here. Don't go away.
Thank you. Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you.
Thank you. Thank you. Thank you. Thank you. Thank you. called Poverty by America. Please welcome to the program, Matthew Desmond. Sir!
["Poverty by America"]
Thanks for being here.
Good to be here.
Let me say this.
Fabulous book.
Thank you.
Filled with such interesting research and unusual and I think really interesting ideas.
I mean, does America require poverty to function in the way that we do?
Is it a requirement of our society?
Yeah, no, I don't think so.
No, no, no. I mean, is the system we run, do they
require in the capitalist system people in poverty
to function at maximum profit?
I think a lot of us do benefit from poverty in ways
we don't realize, right?
We soak the poor in the labor market, the housing market.
We continue to have a government that
gives the most to families that need it the least
by subsidizing affluence instead of fighting poverty. We continue to live a government gives the most the families that need the least by subsidizing affluence that are
fighting poverty. We continue to live in segregated lives a
lot of us are connected to that problem, but it also means
we're connected to the solution. I don't think we have
to live with all this poverty in America.
This system can work you say something in the book that blew
my mind
which is
there's a part in there we you talk about the tax burden.
Yeah. And if we just collected the taxes that were owed. Yeah. It would account for one
point something trillion dollars. And your calculation of how we could end poverty in
this country was how much money. So if you take everyone below the poverty line and lift
them above it that's about one $177 billion a year.
And it's a super rough estimate.
But it gives us a sense of what we're talking about when
we're talking about ending poverty,
because that's so utterly attainable for us, right?
That's less than 1% of our GDP.
So a study came out that showed that if the top 1% of Americans
just paid all the taxes they owed.
Just the ones they owed?
Just the ones they owed and not got taxed at a higher rate,
just paid what they owed.
We would net about $175 billion a year.
So we could just about close the poverty gap.
Just with and without levying other taxes,
just collecting what we need.
Right.
I mean, so like...
So, blah, blah, blah.
Yeah, right.
Yeah. Like when you say that,a! Yeah, right. Yeah.
Like, when you say that, I just go, no!
That cannot, that can't be.
But be.
That's insane.
And it's not, the one thing I will say,
it's not like we don't spend money
on alleviating poverty.
We do, the budget for America was what?
$3.7 trillion 10 years ago. Now it's like $7 trillion. We do, the budget for America was what, 3.7 trillion 10 years ago,
now it's like 7 trillion.
We do spend the money.
Are we just spending it inefficiently?
So I think we have to recognize that the things that we are doing to fight poverty now really,
really matter.
Medicaid, food stamps, you know, housing assistance. These are lifesavers. Right.
Right?
And so these things, these programs
are lifting millions of folks above the poverty line
every year.
We also have to recognize that we have to do more,
because the problem is getting a lot worse.
So over the last 50 years, we've had wages stagnate
for too many workers, we've had housing
costs soar, we now have the lowest wages, some of the lowest wages in the industrialized
world in the richest country in the history of the world.
Our poverty levels are higher than almost all other countries in the industrial world.
They're not just higher, like our child poverty rate is double what it is in Canada, Germany,
South Korea.
You go to Europe, Europeans have this phrase like American style deprivation.
So it's...
I don't even want to know what the German word for that is.
But it sure it's very long and sounds like someone has bronchitis.
Right.
But it's this is the part that's shocking.
We've done things.
I'm going to go back to the pandemic that there was the era, the rent assistance program
and the child tax credits.
Poverty dropped in the pandemic when people were really suffering.
By what percent? So the third rescue plan, the third rescue bill under
Biden, signed it in March, right? We dropped child poverty by 44% in six
months because of that intervention. So we naturally at that point had to end it
very quickly. Right. That program.
Right.
Well, a lot of that because we were quiet.
We were quiet.
We dropped evictions to the lowest
they've been ever on record.
We did the most for poor kids we've
done since the war on poverty in the Great Society.
And there was not a lot of us saying,
this is the new America that we want.
We weren't writing our congressperson. We were talking to our neighbor about it. We were quiet
and in our silence like five million more kids got tossed into poverty the next year. And so I think
the big is it a question of when we think about we always think like well for people below the
poverty line there's a ton of programs for them. But I'm a little bit above it,
and my parents are getting older,
and my kids are going to school,
and I'm in a tight squeeze,
and quite frankly, I don't want any resources
that I might have to pay to see.
Are there too many people even above poverty
who are struggling, but feel like
I'm not getting any value on my return for tax dollars?
Isn't there a little resource guarding?
And by the way, not without cause.
Yeah, there's something to that.
But one thing that blew me,
I think the thing that blew me away writing this book
is that if you look at everything
the government does for us,
all those poverty programs
that flow to the poorest families like food stamps,
social insurance, like social security,
but also tax breaks.
You got to count tax breaks.
You know, they cost the government money and they put money in my pocket
If you add all that up you learn that the average family the bottom 20 percent of the income distribution
So our poorest families they're receiving about twenty six thousand dollars a year from the government. Okay
So the average family in the top 20 percent are richest families. They're receiving about thirty five thousand dollars a year from the government
uh there say that again? So this is the true nature of our welfare state. They're getting
about 40% more than the poorest families. And then we have like the audacity, the shamelessness
to look at a program that would like reduce child poverty or make sure all of us had access to a dentist and be like, gosh, how could we afford it?
Right.
You know?
Here's where they go with that.
And this is the thing that I would like you to talk about, which is what they would say is, oh, yeah, but the top 10%, 20%, they pay all the taxes. I don't think people understand what a regressive tax system we really have for people not just
at poverty but working class, middle class that comes from sales taxes and everything.
People pay much more percentage of their income at the lower levels even though it's not federally
taxed.
Right.
So you know a lot of folks just look at that income tax and they'll say the poor aren't
paying taxes
But that's like counting calories only by counting what you had for breakfast, right?
You know, and so if you're looking at a whole tax structure, you see, you know
A lot of the poor working-class middle-class folks are paying the same
Tax levy as rich folks the folks that have the lowest tax burden in the country, of course our richest families makes no sense
But we're not bad people.
No.
So what is going wrong?
Is it if you were Doge, if you were there to say,
Yeah.
how could we do this more efficiently
to get people that are struggling to alleviate that?
Because in many other countries, they do do that.
Yeah.
What would you say?
So I think we got to do three things.
We got to deepen our investments in fighting poverty.
We got to get back to those big, bold programs
that we had in the great society.
We saw what we could do in COVID.
What were some of those programs that you would?
So we expanded social security.
We created Medicaid and Medicare.
We expanded educational opportunities.
These are deep investments in the poorest families
in the country.
So we need to get back to that.
We can fund that by fair tax implementation.
So the IRS chair a few years ago told Congress
that we lose a trillion dollars a year,
a trillion on tax cheating and evasion.
A trillion.
A trillion.
Yeah, those poor people are getting away with a ton.
Right.
A trillion a year.
And alleviating poverty would be 200 billion a year.
What? Right.
What, is there something in the system of federalism
that means those dollars to the poor?
Like if Walmart has a five billion or ten billion dollar profit and yet still a lot of their workers are
on public assistance or struggle who might not be below poverty line, but just above it,
how are we not penalizing them? Right. I think we need to move back to that question,
which I think it's this like second piece of the puzzle we need to have new ways of empowering the poor we need to find a way to build worker power
to expand housing choice to finally take on all the ways they're getting
financially soaked by banks and payday lenders in the country right and so this
is a way is that so is it that poor people need better lobbyists is that
what this is like how does this get done they need better choice so they're not accepting the best
bad option all the time so if you think of like how we're
going to build worker power in this economy. So now you've
got to go to one Amazon warehouse or one Starbucks
location at a time right member when you're losing our minds
because one Amazon warehouse the Staten Island maybe organized
a few summers ago or I got you know, but we have no chance of organizing all our warehouse workers or baristas like this.
So we have to have different approaches. So the new labor movement is saying let's organize entire sectors.
Let's get everyone in food to hospitality.
Okay. If they take a vote and that could trigger a process where the secretary of labor is like, all right,
let's bring worker representatives, corporate representatives, let's hash something out that covers every single
worker in that sector so this is what policy wants call sectoral bargaining
and it's a way to organize all those kind of warehouse workers all those
barrisas and go is there something to to getting the government to value labor
again in the way that they value capital right capital being taxed that you know
gains that are much lower.
There's a lot of rules that ease capital.
Stock buybacks. You're you're only, you know, have to answer to shareholders.
Is there a way to get workers in on that?
Because that seems like where the accumulation of wealth seems the greatest.
How do we plug labor into that
stream without necessarily
killing the stream but letting
it really getting them into the
flow of it.
Yeah.
Why don't we put workers on
corporate boards for example.
Easy.
Why do they fight that.
And would sectoral bargaining get that done?
It could move us closer to something more like a capitalism we deserve, a capitalism
that serves the people, not the other way around.
And a lot of the times I think the ideas we have about growth are just wrong.
You know, if you rewind the clock, 1960s, we had a higher corporate tax rate, about 50%,
about one in three of us were belonging to a union,
and we were much more productive
as an economy than we are now.
And we're kind of fed this lie that like,
we got to slash these unions,
we got to slash this corporate tax break,
and we're going to get the economic growth.
And we win in that bargain,
and we got the inequality, but we didn't get the growth.
But don't you think the financialization of our economy changed that calculus?
You know, we used to think about IBM, the blue chip companies.
You would invest in them and they would have steady growth and they would give you dividends
and you would work for them for 40 years.
You know, I was saying, you know, if you were to reasonably watch the news networks, the
little bug in the corner is the stock market.
Right.
Right.
If you go to a hospital, they plug you into a machine, it gives you your pulse, your blood
pressure, you know, all that.
You would be well within your rights to think that is the measure of my health.
Right.
I'm looking at that.
When you watch that, you would think, oh, that must be the measure of our economy my health. I'm looking at that. When you watch that, you would think,
oh, that must be the measure of our economy's health.
Is there a way to educate the public
that that's not actually our economy?
That's just a tiny fraction that goes mostly to,
I don't know, the top 10% own 50% of the wealth
in the stock market.
What other measures
Would give people a better sense of how we're failing right?
Like could we have a ticker that's about you know
The number of families went to a food pantry this month to eat right a ticker
That's like the number of families lost. Yes like a ticker about the number of kids that can't afford a winter coat this winter
You know, yeah, it's talking tracking that it's like the real the cumulative how many people
have parents that need elder care right but it's squeezing them because their
kids are gonna cut like give a sense of that by the way I reopened that cut just
by hitting like that I can't even do this anymore
are these critique it now
from the left a little bit yeah are there things that the left
advocates for or does that makes this realignment
i just don't think the left has fully committed to poverty abolitionism
you know we know where our local organic cucumber came from, you know, but we don't wait we do
Wait, is it written on there?
Under a blue light. How do we do it? We know. All right, we know
You we don't know how much the farmhand got paid picking it
No, you know if you go to London you go to the independent stores
They have a sticker on the door and they say this store pays a living wage.
Now our stores, we've got a lot of stickers.
But we often don't have that one, you know?
And so I think that more of us have to just commit.
You're saying we've got to put up poverty has no home heater signs?
I think the left needs to get more serious about economic justice.
And do you think, so I always worry, here's what I always worry about, and I worry about this with climate.
It always comes down to for some reason on the left, you people just have to be better people, and that'll put pressure on it. I feel like the whole point of joining as a society is that a system can alleviate that.
I just don't know how we get out of it without it coming from legislation.
I don't know.
I mean, when you say like, we've got to call our congressman, I'm like, I've been in that
situation where you call congressman, it does diddly-poo.
Like, they're not even answering,
and half the time they don't even know the ins and outs
of what you're talking about.
Like, the country's held together
by hundreds and hundreds of legislative aides
that are working tirelessly.
Isn't there...
Can't we present them...
I would love to see you lobby in Washington, Isn't there, can't we present them?
I would love to see you lobby in Washington
because I feel like you have interesting ideas
that haven't tried.
We're not walking down the same tired path.
Right.
Is that a possibility or no?
Are they open to that?
Of me going to Washington?
Yes!
For people like you.
I don't know.
I'd have to get a tie. I'd got to get a tie. Did they call you?
Did they at least ask?
Yep.
For real?
Yeah.
But I think, you know, that we definitely need more political movements.
We need new legislation.
But we also need more skin in the game, I think, as a country.
So let's think about segregation, right?
So segregation is upheld by zoning
laws, it's upheld by history, but it's also upheld like at soccer games, you know, where
your buddy turns you and you're like, you know, you saw that building, we're not going
to build that thing, right? It's upheld a little-
Oh, you mean NIMBY, the sort of like, we all want economic justice.
Yeah, for those guys over there.
If you wouldn't mind.
But doesn't that speak to that the systems then have to?
Here's what I would say.
We think of poverty as a vice.
And we think of entitlements as a moral hazard for vice.
Why don't we view it as investment?
Why don't we view like what a great economic engine for this country to take areas that have suffered entrenched poverty and rejuvenate them. Yeah. In a different way. There's huge investments. So look at food stamps. Right. Yes. A billion dollars dedicated to food stamps gets you 1.5 billion dollars in our
GDP. If you look at what it does for kids, the long-term economic and health benefit for kids,
it's a huge return on investment. It's about one dollar in food stamps gets you 62 dollars coming
back to you in a society. Meanwhile, right, when we cut the corporate tax rate, the benefits we get are a lot less.
We get a lot less than we're promised often
when we're doing that.
So investing in American people
and stabilizing communities that need it the most
is the best way for all of us.
I gotta tell you, that out of all that argument,
that to me was the most concise and powerful
because, and it's one that I really
haven't heard which is you don't understand like we're not just giving
people money we're investing and getting a huge return and all these corporate
subsidies are not getting us a good return right exactly that's that's
fabulous right there that is anyone watching this? I really appreciate it. This book, if you get a chance, it will
open your eyes to a system that can often be well-meaning but not function in the manner
that it purports to be functioning. And it's really a wonderfully accessible journey through
that. So I really appreciate the book.
Be sure to check out Poverty by America,
Matthew Desmond.
We're going to take a quick break.
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That was... That was... That was... That was... That was... We're going to check in with your host for the rest of the week, Mr. Michael Kosta.
Michael Kosta.
What do you got for us?
Oh, John.
For the rest of the week, John.
The Trump tariffs are about to kick in and I'm worried about my wallet, specifically
the money in my wallet, not my driver's license.
That's been suspended for years.
Your correct tariffs on Canada and Mexico
are set to take effect, I think, tonight.
Exactly. And so that's why I'm stocking up.
I just bought 4,000 pounds of Maryland crab
and 10,000 cans of Arizona iced tea, so I'm ready.
Yeah, those are all American products.
So shouldn't you have
bought like Canadian and Mexican products or? You know this might be all
that crab and iced tea talking but I don't think I know how tariffs work.
All right, Michael Kosta everybody it'll all work out. Here it is your moment is at. Everyone knows the history here the back and forth we
understand that we all understand that but the question now is can we get them to a table to negotiate
That's our goal don't do anything to disrupt that and that's what Zelensky did
Unfortunately is he found every opportunity to try to Ukraine's plane on every issue
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