The Dan Bongino Show - Join The Rebellion (Ep 1633)

Episode Date: October 25, 2021

The rebellion has begun. In this episode I address the massive disobedience campaign against the immoral, unethical, anti-science vaccine mandates. I also address the stunning comments by the Treasury Secretary about her economic plans.  News Picks: Are you a second class citizen in your own country?  The media is freaking out over “Let’s Go Brandon.” The National School Boards Association finally apologizes for its outrageous memo. The wisdom of Thomas Sowell.  The best article I’ve read to date about the damage inflation is doing.  Ex Virginia Governor excoriates the Democrats over their treatment of Black Voters. Copyright Bongino Inc All Rights Reserved Learn more about your ad choices. Visit podcastchoices.com/adchoices

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on a show that's not immune to the facts with your host, Dan Bongino. You know, I'm not backing down in this fight, and I know you're not backing down against the fight against vaccine mandates and the taking of your bodily sovereignty away or the attempts to do it but I want to start the show today with a story that should put a little smile on your face chin up chest out there are victories starting to happen doesn't mean we should pop this champagne and celebrate it's all over it's never

over the fight for liberty and freedom is going to be a perpetual one forever because the tyrants will never go away. They breed like rabbits, the tyrants. But something happened this weekend. Something happened that should put a little bit of a smile on your face that your voice matters. Do not back down. Do not be afraid.

I've got that and a lot more coming up, including, I thought we weren't allowed to talk about stolen elections, right? Weren't allowed air quotes that, and Janet Yellen, the treasury secretary going full communist. Now you're going to want to hear that story. Welcome to the Dan Bongino show on this Monday, obviously a lot going on with me. I'll have some updates on that later as well. And we got a big announcement tomorrow with rumble, by the way, stay tuned for that tomorrow, maybe that, but definitely coming up probably tomorrow. It's huge announcement. Yeah. He's like, what? I haven't even told him yet. If you're looking for a firearm, I wholeheartedly recommend Henry repeating arms. They make 200 models of rifles, shotguns,

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That's Henry USA.com and click on the free catalog button in the top right corner. You're going to love this company. All right, Joe. Let's go on this Monday. Let's go, Brandon. Get this baby going. Yeah, baby. That's right.

That one on the Facebook thing. We did a poll on my Fox show. Yeah. Facebook. We asked the public, what should they rename Facebook? And everybody said they should name it Let's Go Brandon, which would be really fascinating by Facebook. It would take a lot of cojones to do that. First,

you can win, be loud, be proud, fight for Liberty and freedom. And you can win. Many of you remember this story, the dreadful national school boards association thought it would be a great idea to send a letter to the department of justice, demanding that parents who speak up at school board meetings implying that they should be treated like domestic terrorists so yeah that went over well as parents gave them the double barrel middle finger and said now we're going to show up even more because you're trying to intimidate us using the monopoly power over of force the government has you're trying to scare, and we're not taking that lion down. So we spoke up, called the legislators, showed up in mass, and look what we did.

Just a news article, Colton Salas. National School Boards Association apologizes for comparing parents to, quote, domestic terrorists. The initial letter called on the White House to deal with the growing number of threats of violence and acts of intimidation occurring across the nation. Acts of intimidation? Speaking up for your kids at a school board? Remember, ladies and gentlemen, the left,

I hate to say this, but it is true. I hate to say it because it bothers me that it's true. The left, over decades, has gotten better at grassroots organizing than we are. They have. Now, there's a lot behind that. One of the reasons that is, are the left are inherently collectivists. They're socialists. Many of them are communists. They may not admit it, but they are. Meaning they think with this collective hive mind, like the Star Trek Borg. I use that example all the time. They think collectively. Well,

when you think collectively, obviously it's easier to organize. That's not the ethos of the right. The right, we're individualists. We believe in our family, freedom, God. We have no problem with associations that are voluntary, but we're not collectivists. We don't think we're entitled to our neighbor's property. We don't think we're entitled to indoctrinate our neighbor's kids, but that leads to an organization problem. When you easily indoctrinate it on the left, you organize better. You just do. I wish it weren't the case, but it is. Now we're learning from the left's tricks and stunts. We can use Congress and legislators, pressure them to do things. Remember what I told you, the iron triangle, the left uses three

things to advance the narrative, congressional committees, activist groups, and the media. We have the same thing. We have our own media, conservative media. You got this show, you got Shapiro, you got Fox, you got Breitbart, you got conservative review, you got the blaze TV, daily caller, the federalist. We have our own media too. We don't need their fake media. We've got the media. We've got activists too. You've got me. You've got other Liberty Fighters out there. You've got the Trump organization. You've got other people out there too. And we also have our own members of Congress that some of them, not all of them, but some of them got off their asses and actually did something here against this national school boards that are implying we should be associated with domestic terrorism.

And look what happened. We won the organizational skills there. Take them and apply them to every other BS leftist narrative to fight back to get your media people together. Get your activists together. Get your members of Congress and your local legislators together and say, not today, not tomorrow. Next week doesn't look good either. This isn't happening on my watch. Yes, sir. Thank you, Joe. It's important. You know, listen, it's easy to get down. I get it. We've had a bad couple of months here. I get it. I understand, but I'm not going to play into the macabre. Everything's over. Forget it, it's not worth the fight. Well, if it's over, then we might as well fight anyway. You might as well get your political licks in in the end if it's over anyway.

There's no reason to stop fighting. None. Zero. Zero. I'm not giving up. I'm sorry, no matter how bad it gets. I'm not. Believe in the second creation. I'm not going to show up to the pearly gates when the Lord Almighty asks you what you did to fight for liberty and freedom. He gave us, oh, nothing. I sat it out. I'm not doing it. And I know you're not either.

You know, one of the things I said there with this National School Board fight that we won, a humiliating defeat for this discredited, now embarrassing organization, the National School Boards Association, a humiliating on their knees. They broke humiliating defeat. I said to you, do not be afraid. Do not be afraid. The left has used this iron triangle to push false narratives for years.

The left are the primary purveyors of stolen election narratives. What? What do you mean leftists are like, oh my gosh, get a diaper, X, Y, X moment. I can't hold it in. Yeah, because that's how you are, you losers. The left have been the purveyors of stolen election narratives, not conservatives. The left, they have not accepted a national election in probably close to 20 years. They challenged Bush v. Gore. Remember that? Oh, Al Gore won. Al Gore was never ahead in one single vote. Not one single vote count in Florida. Not one. I'm not a huge fan of the Bush presidency, but Bush won. Barron Square. There's zero evidence otherwise. Left still thinks

Gore won. The left still thinks Hillary Clinton won in 2016. No evidence that's true either. Donald Trump colluded with the Russians. The left still thinks Stacey Abrams is the governor of Georgia. The left are the purveyors of stolen election narratives.

So when the left tells you, you won't dare speak up about 2020, flip them again. The double barrel will go family friendly version this time and say, I will speak out about what I care about when I care about it. I don't work for you losers. Shut your mouths. You're the purveyors of stolen election narratives.

Here is a great ad by the Republican candidate for governor out of Virginia, Glenn Youngkin, a spectacular candidate who should win up there, who should win. You need to get out and vote. We've only got a few days left in Virginia. Here is a spectacular ad. Here is Terry McAuliffe talking about how, right, stolen elections. These people are terrible. You conservatives talking about a spectacular ad. Here is Terry McAuliffe talking about how you're right. Stolen elections. These people are terrible.

You conservatives talking about a stolen election as he then at a rally. What is it the same day or the following day has Stacey Abrams up there and McAuliffe celebrates the fact that he still thinks Stacey Abrams, the Democrat, won the governorship of Georgia in a stolen election. This is a great ad. Check this out. And he's running down the democracy saying their elections are not fair. The next day, she would be the governor of Georgia today had the governor of Georgia not disenfranchised 1.4 million Georgia voters before the election.

That's what happened to Stacey Abrams. They took the votes away. Here's my recommendation to you. The next time one of these left-wing liberal lunatics says to you, oh, that's a conspiracy theory. You're not allowed to talk about the 2020 election being stolen. Say, do me a favor. Please take the cotton out of your ears, jam it in your mouth,

clog up that soup cooler you call a mouth. I'm not interested in your opinion at all. Zero. You have zero credibility with me you don't think the democrats have lost the national elections since back in 2000 you have zero credibility admit to me stacy abrams is a fraud admit to me you lied about bush versus gore and admit you lied about hillary clinton and call out call out Hillary Clinton publicly right now. Until then, shut your mouth. Take your mouth and shut it.

You have zero credibility. Laugh at them when they say anything about stolen election. Laugh in their faces. Mockery is a powerful weapon. You guys, you mean the 2016 pee-pee hoaxers? You mean the 2000 Bush v. Gore? Gore won in Florida? You mean this? Stacey Abrams?

Stacey Abrams is the governor of Georgia? You mean you guys? We won't be listening to any of your opinions. I just want one more thing about this I'd like to add. By the way, the New Jersey governor's race is tightening up as well. I don't want to leave them out. Phil Murphy is in a little bit of trouble right now the New Jersey governor's race is tightening up as well. I don't want to leave

them out. Phil Murphy's in a little bit of trouble right now in New Jersey. You got to vote in Virginia and New Jersey. The elections are here right now. Either early vote or vote, I don't care how you do it, but please get out and vote. They're here now. They're not next year. They're right now, coming up. We're eight days away, right now. And I'll just tell you one thing about this in my prior line of work i knew the tea party rebellion was about to happen when obama went up to new jersey to campaign for the democrat candidate for governor and was it corzine back then and i've told this story a thousand times i want to relitigate the whole thing i was doing a lead advisor i was advising a lead advance and the staff told 22,000 people were going to show up to see Obama campaign for John Corzine in a New Jersey governor's race.

Less than half showed up. 8,000 people. And I knew the Democrats were in real trouble. The New Jersey and Virginia governor's races are bellwethers. Please get out and vote. If we win in Virginia and we're even close in New Jersey, a lot of this stuff will stop because it will be the so-called moderates

in the Democrat Party will be terrified. Okay, I've got a lot to cover today. It's Monday. I always enjoy the Monday show because I get all loaded up on the weekend with material. It just comes out like a volcano, as you've seen. So the vaccine mandates are obviously a hot issue. I will not see you on the radio later today. So the vaccine mandates are a red line. They're a red line for me. They're a red line for you. They're a red line because once you concede the point that your body is the ward of a state, it is not your body. It's theirs.

All is lost. The fight is over. You have nothing. I cannot emphasize this enough. I've said it on my show. I said it on my Fox show. I said it in a Fox hit this morning on Fox News when Fox and Friends, I said it this weekend. All of the fights we value, economic liberty fights about taxes, healthcare liberty fights over Obamacare and government takeover of the healthcare infrastructure, education liberty fights about school choice, regulatory liberty fights About dumping government red tape And control over your lives Folks, those fights mean nothing If we concede the point

That we do not have sovereignty Over our own bodies They mean nothing Think about it Maybe I'm not saying this right Interject here if you think I'm explaining this poorly This is very important Think about it,

the ideological failings we will have embraced. If we try to say, Hey, it's my property. It's my money. I believe in economic Liberty. You can't direct tax me. That argument means nothing. If the government can come back and say, well, you already conceded the point that your body isn't even yours, that we can force you to inject something into your body, whether you need it, want it, or candidly, even if it's dangerous to you. There's no argument.

You lost. Forget the tax argument. It's over. You've got nothing. You've got a sovereign government. You've already, you've become so obsequious. You've acquiesced on the biggest point of all. We can't possibly win those other fights then.

That's why this vaccine mandate is a red line in the sand. It's a riverbed that can't be crossed. It is a red line. You cannot, once it's crossed, it's over. Here. Here is Dr. Reich on with the great Mark Levin this weekend on his terrific show, life, Liberty Levin making the point. This is a well-respected Yale medical doctor.

Not that I believe Yale means anything per se, but just proving the point that Yale is a left-leaning institution. Like most universities, they'll claim not to be of course, but I guarantee you most of their faculty are left-leaning. This Dr. Reich is a well-respected guy, and he's saying, hey, listen, I would be very cautious about these vaccines with our kids. This is a big deal. Don't listen to me. Listen to the doctor. Check this out. If it were my child, I would homeschool them. Honestly, I would organize with other parents to take them out of the school and create homeschooling environments. There is no

choice. Your child's life is on the line. It's not a high risk. Vaccination is not a high risk that's going to kill every child by doing so. However, it's enough of a risk that on the average, the benefit is higher for homeschooling than it is for vaccination and being in school. And that's just the bottom line. You know, we were seeing employees in companies facing mandates quit or being fired. And now the public perceives that and companies are having a hard time replacing those employees in the climate of a bad employment circumstances and missing workers. It's getting even harder. And so those policies are being rethought. When the people rebel because of their own interests, then it has to be reckoned. Rebel, folks. It's time to rebel now. It's time to dance. We talk about that

first guy getting up and dancing in that video we played on the show all the time. It's not the first guy that gets up. It's the second guy and the third guy who join them. You got to get up and dance. Don't leave people out there on their own. You have to object and rebel. This is not about vaccines. I can prove it to you. It was never about vaccines.

The same left that's trying to tell you right now, you must get the vaccine or we will punish you and bankrupt you and humiliate you. The very same left doing that are the same people right before the election who were talking down the vaccine and saying they wouldn't take it because Donald Trump's administration was behind it. If it was about the vaccines, what changed? Did the vaccine change?

No, the vaccine didn't change. The politics changed and Joe Biden slithered his way into the Oval Office. It was about the vaccine didn't change. The politics changed, and Joe Biden slithered his way into the Oval Office. It was about the vaccine, then why was the vaccine bad, and now it's good? Matter of fact, it's so good, it's the only option. Back then, it was so bad,

do anything to avoid it? Nothing changed. The only thing that changed were the politics. Don't be a sucker that you left this out there. This was never about the vaccine. It's about control. It's time to get up and dance. It's time for the real resistance, not the fake leftist resistance. I'm behind you a hundred

percent. Should all be willing to take the slings and arrows here. It's just too important. All right. I've got a lot coming up, including Janet Yellen going full communist. And ladies and gentlemen, this inflation argument, listen, inflation argument, inflation problems, a more precise way to say it. This inflation problem, it's talked about in other worldly terms sometimes.

Oh yeah, increased prices, but don't worry, our social security is going up. No, no, ladies and gentlemen, I promise you have not thought this through. I want to talk about yelling going communist and the inflation and inflation could change everything, everything about this country. Everything. Get to that in a second. the world. Please read your personal owner's manual thoroughly. In it, you'll find simple instructions for how to interact with your fellow human beings and how to find happiness and peace of mind. Thank you and have a nice life. Unfortunately, life doesn't come with an owner's manual. That's why there's BetterHelp Online Therapy. Connect with a credentialed

therapist by phone, video, or online chat. Visit betterhelp.com to learn more. That's BetterHelp.com. At Wealthsimple, we're built for whatever you're building. Built for Jane, who wants to break into the housing market. We're built for Ted, who's obsessed with what's happening in the global markets. And built for Celine, who just wants to retire and explore the world's flea markets. So take a moment and think about what you're building for. We've got the financial tools to help make it happen. Wealth Simple, built for possibilities. Visit wealthsimple.com slash possibilities. Okay, moving on. I know it's a lot. I know it is. It's a big deal. Here is Janet Yellen proving again.

She's a communist. Notice the word game she plays here. Let me just set this up. She's talking about the Democrats new proposal for a wealth tax. Now, listen, you don't owe the government squat. I'm not even going to argue about this with liberals. I don't owe you anything of the government. The government is a cesspool, a toilet bowl. Every dollar you give the government destroys someone's life outside of our military, our law enforcement role, state and locally at the federal level too. And outside of our court system, listen, every dollar you give the government goes to destroying someone's life.

The government is a horror show. Every single one of our significant problems in society is exacerbated by the intervention of government. You owe these people nothing. I don't care if you're a billionaire, a trillionaire or a quadrillionaire. I don't want your money because if you give it to the government, it will be used to destroy someone's life. That is it, period. Now, because of that, and because we believe in freedom and liberty, and the freedom to spend the money we

earn and earn money ourselves in private property, the Constitution outside of the income tax amendment, the Constitution prohibited direct taxes, meaning the federal government cannot come in, ladies and gentlemen, and say, I am going to tax Dan Bongino because he's worth a billion dollars. You can't do that's a direct tax. You can't. tax. You can't. Now, there are indirect taxes, duties, imposts, excises, and then there's the income tax, which because of the amendment gets around that. But there are no direct taxes. You can't come in and say, I'm going to initiate a wealth tax on Dan Bongino's stock and real estate that only applies to him and a few hundred other people. They're going to try. Listen to Janet Yellen right here talking about a wealth tax. And I want you to notice this is a very important section of the show. Please don't go anywhere. Notice the word game she uses to pretend the wealth she wants to tax is income,

meaning your stocks, real estate. How is that income? If you haven't realized the gains, you haven't sold your house and you haven't sold the stock, how do you have any income from it? Notice how she plays the word games. She said, oh no, it's not a wealth tax. It's kind of like we're taxing income. Check this out. I think what's under consideration is a proposal that Senator Wyden and the Senate Finance Committee have been looking at that would impose a tax on unrealized capital gains on liquid assets held by extremely wealthy individuals, billionaires. I wouldn't call that a wealth tax,

but it would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals. And right now, escape taxation until they're realized. And often they're unrealized in the death benefit from a so-called step up of basis. So it's not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals. Notice what this communist just says, because she's a communist. She's not. She's a full blown communist. She's not even a liberal. You've already paid taxes on the income that you

bought stocks with, right? The stock then goes up. She then wants you to pay the capital gains tax as well. And then she then wants you to pay it. Even if you die, she wants to get rid of the step up basis. So your heirs pay on the original price, even though you never capitalized from it at all. And then she says, even though the gains are unrealized, is everybody following this part? In other words, you haven't even sold the stock yet. Right. She says, well, they're liquid. How can they be liquid if you haven't sold the stock?

I don't understand. How is it liquid? So a couple of things are going to happen here because of this commie who's our treasury secretary full-blown communist now we have communists everywhere including their nominee for the comptroller we have communists everywhere in this administration here's what's going to happen one it'll be it'll be unconstitutional i'm almost positive it'll be thrown out in court you can't impose a direct tax outside of an income tax on individuals. You can't target people for specific taxes outside of the income taxes. Everybody understand that? You can't just say, hey, listen, we're going

to impose a tax on everybody's wealth as long as you're a billionaire. If not, you can't do it because you'll be next. You can't do it because you'll be next. You can't do it. It's not constitutional. Second, stock market, let's say some hack judges pass this thing. The stock market will crash like you've never seen before because think about it, folks. Billionaires are rich.

That's why they're billionaires. They have a lot of assets and taxes. So let's say a guy's worth a billion dollars, but he's worth a billion dollars, but he only has say a couple million in the bank. He's not struggling, but his assets are tied up in his house. Some real estate investments he made

and some stock investments he made. So he's worth a billion, but he has, I don't know, say 10 million in the bank. Now they say the communist Janet Yellen, hey, we're going to classify that as income. It's not, you haven't cashed any of it in. You have to pay capital gains taxes. If you do, right. We're going to classify that as income right now. You owe us $370 million on that billion dollar. I don't have $370 million. So how are they going to get the money?

They're going to sell their stocks, which is going to be a whole lot of stocks get liquidated immediately. Mark my words, market Joe, Monday, October 25th. If this passes and is held up by a bunch of liberal hacks on the court who know it's plainly unconstitutional, you will see a stock market crash that'll make 1929 look like house party with kid and play flag. It got the date marked. Remember these words. If it passes, your pension will be finished.

You will see a, a era. We'll be back to the Great Depression. One more point on this. Again, notice the word game she does to try to classify wealth as income. Wealth is not income. Wealth is wealth. It's not the same thing. Many of you are very wealthy because you have equity in your house. Imagine if they told you you had to pay taxes on that tomorrow. Hey, you made $500,000 in a house you bought for $200K 30 years ago. Yeah, you owe us taxes on that.

Well, what do you mean? I haven't sold my house. Doesn't matter. That's coming for you next. One more thing. It's plainly unconstitutional. 1955 case, Commissioner v. Glenshaw Glass. In order to be declared as income and to fit with the

income tax amendment to the constitution which permitted direct taxes in the case of income in order to be classified as income you have to have quote complete dominion over the money well if you haven't sold the stock how do you have complete dominion over it ladies and gentlemen it's plainly unconstitutional. Janet Yellen knows that, but she's a communist, so she just wants to get her hold on it. So mark my words, it'll get thrown out of court. But if it doesn't, you will see the Great Depression part due. Now, I want you to keep in mind as well that eventually these taxes they claim are for billionaires, the way they're designed, they're designed in such a way to eventually ensnare all of you.

And that's why they love inflation. I got a block coming up on inflation, how it's going to kick you in the tomatoes coming up next. You, personally, don't think this is just for rich people. It's coming for you too. Okay. Back to the show. Now, I know you think, oh oh billionaire direct taxes on billionaires which are unconstitutional they don't affect me yeah they do they'll crash the stock market immediately

and you'll be screwed too guaranteed mark the date guaranteed i said it here first if that passes even as it works its way through the courts, it will crash the market. People will rush to sell assets to pay the government. But inflation, ladies and gentlemen, will eventually snare you. And what's targeted at billionaires today will be millionaires tomorrow, then hundred thousandaires, and then you. Inflation changes everything. You know, I typically don't post links to Wall Street Journal articles in my show notes because they're subscription only. Folks, this one's worth your time. I enjoy the writings of

Holman Jenkins in the op-ed section of the Wall Street Journal. He's a very cerebral guy. He has a fantastic article about how inflation, inflation is, quote, the mother of all big political change. It could change everything about our relationship with government let's lay it out step by step number one from the piece for those of you who weren't alive in the 70s i was very young but i was joe was as well he definitely was not alive in the 70s when were you born 91 holy moses joe he wasn't even alive in the 80s he missed cindy lauper and ho kogan in the early years darn you and i are old we're like old dogs joe's like the joe is the uh the senior of the group you know man right right so

what joe remembers is well let's lay it out first, how inflation could change everything. Number one, first, you need evidence? You remember what inflation did in the 70s? I know I do. I know Joe does. From Holman Jenkins piece. In the 1970s, the inflation crisis imploded a large government establishment occupied with trying to fix the supply and price of air travel,

truck transport, rail services, and consumer energy supplies. It also imploded a tax system that was found to be constantly promoting people into higher brackets, even as their real income and living standards decline. Let me sum that up for you in a nutshell. Shockingly, the Jimmy Carter presidency, yes, Jimmy Carter, far left radical Democrat peanut farmer. They engaged in massive deregulation. What? Deregulation? Yes, because the prices of things were exploding and they realized they needed to control it.

The rail lines, air travel, which was the government had its fist everywhere in the face of air travel. They deregulated it because they had to in the 70s as well. Income taxes were not indexed to inflation, meaning all of a sudden say you got a raise because inflation was crazy. You'd find yourself, even though your money didn't buy anything more because prices went up. Hey, we're going to give you $5 more a week. Okay. Prices went up $10. Your salary nominally goes up. Everybody get it, but you're making less real money because you can buy less. And the kicker was, this is what Jenkins means in the seventies. Not only even though you got big raises, could you buy less money? Number one, but number two, you'd have to pay higher taxes because the tax brackets weren't indexed to inflation. Meaning let's say the tax bracket was you make $50,000, you pay 30%, you make $48,000,

you pay 21%. You got to raise at work to keep up with inflation. You just got a 10% tax hike, even though your money buys less because the brackets never went up. Does that make sense, everyone? They were fixed numbers. They weren't indexed. All of that changed with the Reagan years. They indexed them to inflation because people lost their marbles.

It has happened before. It happened in the 70s. Democrats had to do deregulation to try and keep the pricing down. Okay. Democrats had to do deregulation to try and keep the pricing down. Okay, so we know inflation uprooted the entire relationship with government, airlines, salaries, the tax code in the 70s and early 80s. Well, what could happen now with mass inflation? From the Jenkins piece. It's in the newsletter.

I encourage you to read it, Bongino.com slash newsletter jenkins says quote today's inflation would be hitting an economy with rigidities of its own mostly of a different kind instead of you know air travel regulations and rail travel regulations like we had in the carter 70s and 80s now zoning rules they depress the supply of housing licensing restrictions depress the supply of housing. Licensing restrictions depress the supply of personal services. Wind and solar mandates tax the reliability of the grid. Means-tested entitlements make it less attractive at the margins for Americans to work. Yes, yes, yes. Ladies and gentlemen, if inflation, the inflation beast continues to grow, if it continues to sprout new snake like hair, hair follicles like Medusa, and it continues to grow like the beast it is and gets worse and worse and worse. You can expect a political revolution in this country.

And Jenkins says, what are the next things that could go? The government will have to get prices under control. Have to. Can we see a mass deregulation of the petroleum market in the United States even more? Exporting allowed. Exporting, yeah. Will we fix refineries here? We're allowed to export and make proceeds here to develop oil assets?

Yes. Could you see zoning regulations go out the window to get housing prices under control? Could happen. Could you see all of a sudden means tested benefits? Everybody's starting to reevaluate who gets government benefits and who doesn't. This all could happen now if price pressure. I'm not wishing this on anyone. Inflation is a son of a bee and it will destroy everything.

Everything you owe, everything you own, excuse me, and everything you're ever going to own. Now, what's the problem with now compared to the 80s and the 70s? The problem now, folks, is our national debt is geometrically worse than it was. Here, the third part of Jenkins' piece. He says, we may discover other vulnerabilities here, but two gaping ones weren't part of the story in the 70s. In 1977, our federal debt was 34% of GDP.

Today, it's 125%. We have a lot of debt, folks, a lot. And the share of Americans who've experienced direct government aid is quadruple. It now comprises more than 50% of the population. And that's before our pandemic spreading and Joe Biden's welfare ambitions. Here's what this means, which means a lot could go kerbluy. He put it in there. That's not my word.

I would use that. And fast rising interest rates could double or triple today's $400 billion interest bill on the national debt. Overnight, this item could rival social security and Medicare as the biggest single budget outlay. Yes. Unlike in the seventies, ladies and gentlemen, if the interest rates doubled to get to shrink them, remember interest rates go up.

It makes money more expensive, right? You want to pay a loan at 5%? You want to pay a loan at 15%? You want to pay at 5%? 15% It makes money more expensive, right? You want to pay a loan at 5%. You want to pay a loan at 15%. You want to pay at 5%. 15% makes the money more expensive. But why would the government increase interest rates? Because if inflation gets out of hand, they'll have to,

because it'll make the money more expensive and shrink the supply of money, which will mean less money, which means prices would have to go down. But if interest rates go up, so does the interest on our debt. It could become the single most important item we have to pay for. Tell that to Social Security and Medicare recipients when their money dries up. As I said, folks, inflation could change everything. So what does this mean? Well, Jenkins addresses this at the end of his piece. I didn't put it in the screenshot because I want to go through it myself here.

There's only a few ways they can solve this, folks. They can monetize the debt. In other words, they can just keep printing more money to pay off all debts, which means what? More inflation. Well, that doesn't sound like a fix. Exactly. You could engage in massive government spending cuts probably the

only real way out of this but ladies and gentlemen those spending cuts ain't gonna be pretty wait till you sell social tell social security and medicare recipients hey uh those benefits we promise you aren't there there's no money oh that's not gonna happen dan you sure where are they gonna get the money from they going to steal it from you? There's none left, folks. You just print more? That'll lead to more inflation, making it more expensive. Yeah, he's right.

If it's up to Janet Yellen, the communist, they'll take it. There's still not enough to pay it off. They can engage in massive tax hikes. That would crush the economy. You may say, my gosh, none of this sounds good. It isn't. They could make depositors in banks, make bank deposits, invest in government bonds so the government gets control of the money.

Well, that doesn't sound good. I didn't tell you any of it was going to sound good. I'm only here to tell you the truth. Here's another thing they can do. They can increase social security payments, right? Hey, we're going to increase social security based on which they did, 5.9%, because they indexed it to inflation.

But we're going to tax it on the other end, clawing it all back. That doesn't sound good either, right? For you? They could cut Medicare reimbursements to doctors. We're not going to pay doctors as much anymore. What happens there? Doctors tell you on Medicare,

yeah, find a different office. They could dump the mortgage deduction. You won't be able to deduct interest payments on your mortgage from now on. They could get rid of the employer healthcare tax benefit. What I'm trying to tell you folks is if we don't get a hold on this inflation,

be soon. We're all going to pay. And if you think you're going to get a pass and they're only going to tax the billionaires and a direct tax, you are wrong.

There are 614 billionaires in the United States worth a collective $4 trillion. That's not even enough to pay the government bills for this year. They're coming for you next.

Well, how do they get to you? And how do they use inflation to make sure they get your money? Well, what they do is what they did in the seventies with taxes. They make the tax numbers, fixed numbers that are not adjusted for inflation. In other words, you make 30,000, you pay this 60,000, you pay this 90, you pay this. But what happens when inflation goes up and people get salary hikes to match inflation? You get a tax hike too, even though your money isn't by anything. You think the Democrats don't know this? Why do you think Joe Biden said in his campaign, I won't tax anyone under $400,000. Notice he didn't say anything about indexing that number to inflation. They love fixed numbers because soon everybody's going to be making $400,000. Notice he didn't say anything about indexing that number to inflation. They love fixed numbers

because soon everybody's going to be making $400,000. It's not going to buy anything, but inflation is going to cause your boss to have to give you a salary hike so you can go and live your life. You're not going to be able to buy anything new, but you'll be making $400,000 soon too. Here, another great article

in the Wall Street Journal about this. High inflation creates tax winners and losers. What are you? Notice how the government liberals always use a fixed number, knowing sooner or later everyone's going to be making it. They say, for example, a 2010 law included new taxes on investments and wages that take effect when income reaches $200,000 for individuals. Remember Obamacare?

And $250,000 for individuals. Remember Obamacare and $250,000 for married couples matching levels that then president Barack Obama had set during his campaign. More people pay those taxes now than did then, but that expansion hasn't spurred many calls for change, even though the Democrat party's threshold for where taxes increase should start, could start climbed, start climbing to four or $400,000. Now you see why they do it? Why they make these taxes indexed to fixed numbers rather

than indexed to inflation? They love inflation. Everybody pays higher taxes. Eventually it's going to ensnare everyone. The billionaires become millionaires, the millionaires become hundred thousandaires, and the hundred thousandaires eventually become poor because their money doesn't buy squat. All right. Let me get to my last sponsor. I just want to do a quick comedy relief segment, but it's nothing I need a little,

you know, you know how I am in the middle of the show. I got to break it up with the emotional roller coaster. Okay, just a quick LOL moment here. Kind of interesting how the Major League Baseball losers and fake social justice warriors and grifters, Major League Baseball moved the All-Star game out of Georgia after they passed that new voting law to make elections free and fair

because Major League Baseball apparently doesn't want that. after they passed that new voting law for, to make elections free and fair because major league baseball apparently doesn't want that. And now isn't it kind of hilarious that the two States that passed voter integrity bills, Georgia and Texas, that's, that's what Joe, that's where the world series is.

It's the Astros versus the Atlanta Braves for the fourth time today, the double barrel. Yeah, baby. Rotate on that one. Texas and Georgia, the double barrel. Yeah, baby. You can rotate on that one. Texas and Georgia got the World Series this year. What a bunch of idiots. Oh, if that's not the greatest example of a backfire I have ever seen.

Texas and Georgia. That's great. Hey, I saw this article out there. I thought you'd enjoy it. You know I'm a huge fan of Thomas Sowell. I love Thomas Sowell. It's in National Review, which used to be a good outlet. Unfortunately, they have Jonah Goldberg and that zero, Kevin Williamson.

But once in a while, Lion Squirrel gets in. Kyle Smith had a good article about Thomas Sowell. What's that? Oh, yeah, yeah. Let's do True Time with Thomas Sowell. I's that? Oh, yeah, yeah. Let's do True Time with Thomas Sowell. I didn't realize we had that. Thank you. Yeah, I forgot we had True Time with Thomas Sowell.

He just has some quotes. I'll just read a couple from Thomas Sowell. It's in my newsletter today. I encourage you to read it because they're just so great. When it comes to things like political upheaval at any given time you can always go to thomas saul for some bits of wit and wisdom quote thomas saul

it's depressing to hear ideas trumpeted as new when the underlying reasoning involved was common in the 1840s or 1790s and discredited by the 1920s kind of sounds like communism and jetted yellen they're all new ideas wealth taxes if no communist or socialist has tried that before. Here's the second one. And I want to get to some important video about the invasion across our Southern border and what the government is obligated to do about it. Here's the second quote.

The current militant rhetoric, self-righteousness and lifestyle are painfully old to me. I've seen the same intonations, the same cadence, the same crowd manipulation techniques. And I've seen the same hustling messiahs driving their Cadillacs and getting their pictures in the paper. Sounds like the AOC crowd.

Well, you can replace the Cadillac with her Tesla. Right? Hustlers. I know, he's the best. So this video was taken down in Mexico. Ladies and gentlemen, there is an invasion coming to the United States as Joe Biden would say, not a joke.

That's not hyperbole. This is literally not a joke and not hyperbole. The video is quite obvious. There are tens of thousands of people in another caravan, despite 1.7 million people already having entered the country under the Biden administration illegally. I might add, there are tens of thousands more headed here right now.

How do we know that? Because it's on video. Here is some video that emerged this weekend in Mexico. There was a skirmish line set up of police officers and Mexican law enforcement with shields telling this caravan you cannot cross. Watch how quickly the caravan says, F you. We are going to the United States. This is an invasion. Get out of our damn way. And they just barge right through here.

Watch it for yourself. There they go. again if you can explain to me how that's not an invasion um i'd be open to hearing it now the government pursuant to the constitution article 4 section 4 the federal government is obligated to protect the states against invasion. There should be lawsuits about this. This is clearly at this point an invasion. It has been an invasion. Here is Article 4, Section 4 of the United States Constitution. Quote, the United States shall guarantee to every state in this union a Republican form of government and shall protect each of them against invasion.

Those are exact words. And on application of the legislature or the executive when the legislator cannot be convened against domestic violence. Please explain to me how the Biden administration hasn't engaged in an unconstitutional act here by abdicating their responsibility to protect the border states against invasion. Please. Can anyone explain that? Please show me again how that video is not evidence of an invasion. Your own eyeballs, you can hear it. By the way, if you'd like to see the video, watch the podcast. I like the video version better.

The audio, I mean, the audio is obviously the same on both, but rumble.com slash Bongino. I would really appreciate if you'd subscribe there to the podcast, rumble.com slash Bongino. Again, we've got some big announcements coming up with Rumble as well. We're almost at 2 million subscribers. So we'd appreciate if you click that follow button. It would mean a lot.

Rumble.com slash Bongino. A couple quick stories before we run. The Democrats showing you how they're hustlers and grifters driving in their Cadillacs like Thomas Sowell said. That's all they do. They're good at the grift. Here's an article in The Hill that should deeply concern you. January 6th Committee.

There's no question the Capitol riot was a premeditated attack. Really? No question at all. That's fascinating. Because when they wanted to nail Trump to make sure he never ran again, what did they say right after the January 6th incident at the Capitol? What did they say? Here's the Vox headline.

How Trump's speech led to the Capitol riot by the ever dreadful Aaron Ruppar, who can never get his head out of his own rub. Aaron Ruppar. So what is it, ladies and gentlemen? Is it that it was a premeditated insurrection, quotes dreaded air quotes, or was it a Trump inspired insurrection? Therefore, Trump should never run again. The answer is it's neither. They will change their mind and change their story depending on the political damage they think they can do. Now they want to ensnare everyone in this.

Steve Bannon, Giuliani, everyone. So they're going to pretend it's premeditated so they can declare it's a conspiracy. If Trump decides he's going to run again in 2024, they will go right back to the other narrative that it wasn't premeditated. Donald Trump inspired it again. October 25th, folks, mark the date. By the way, we've got an interview coming up I'm very excited about. Donald Trump will be back on the podcast. When is it, Ergie? Tuesday?

No, not tomorrow. Not tomorrow, Tuesday. A week from tomorrow. November 2nd. That should be interesting. Welcome back to the show, President Trump. All right, last one one we got time for this uh joe scarborough his twitter account is always a source of hilarity but he tweeted this this

weekend breaking biden brings down trump's record-setting deficit by 360 billion in one year folks this is this is just just a note on this Democrats, whenever you hear this about them bringing down the deficit, this is obviously, obviously ridiculous. That doesn't take into account the fact that the last year of the Trump campaign, the deficit was enormous. It was. That is a fact. Last year of the Trump presidency, excuse me.

The deficit was enormous. That's a fact. It was coronavirus spending, which I did not agree with, and I don't care who spent the money, but it was supported overwhelmingly by Democrats. So pretending that that was exclusively a Republican endeavor, the deficit, and therefore when we stopped spending as much because of the ebbing of the pandemic, that that was a Democrat thing to take down the spending when Biden's pushing 3.5 trillion more in spending is about the most ridiculous thing I've ever heard.

It reminds me of the trick. Remember, Joe, we used to cover this during the Obama years when we were doing the podcast, how Obama, when he came into office, had the biggest one-year deficit in human history by far. And then the next year it went down a little bit and they were like, Biden, deficit cutter. Biden's, excuse me, Obama.

Obama's, the smallest deficit he had in any given year was bigger than the biggest one during the Bush years. It's all a word game. But whenever your leftist friends bring this up, I want you to ask a simple question. I want you to say to them, yes, I agree. Government spending money it doesn't have is a bad thing. It leads to inflation and problems. Are you now agreeing by saying, because you're implying Biden bringing down the deficit is a good thing. So less deficits are a good thing, right? Watch them. Give me my diapers. They want to spend money. They're totally full of crap. Scarborough's an idiot. He knows what he's doing here as a moron. All right, folks, thanks again for tuning in. You will not see me on the radio today.

Thanks again for tuning in. You will not see me on the radio today. I will have updates as time goes on, but I appreciate deeply your support against these dreadful anti-science, immoral, unethical vaccine mandates. Your body is yours. You are not a ward of the state or any corporation. We lose this fight.

We lose everything. I am with you in this fight and I'm honored that you're with me too. I'm just a spoke in this wheel. I mean that. But I'm going to do my best. I need your help. So thanks a lot. I will see you all tomorrow.

You just heard Dan Bongino.