The MeidasTouch Podcast - Trump Voters GET SCREWED on their Taxes…INSTANT REGRET!!

Episode Date: December 7, 2024

MeidasTouch host Ben Meiselas reports on Donald Trump’s pick for IRS commissioner and why it will screw over Trump’s own voters. MD Hearing: To get our $297 when you buy a PAIR offer, including a free charger, head to https://ShopMDHearing.com and use code MEIDAS. Visit https://meidastouch.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Coalition of the Sane: https://meidasnews.com Learn more about your ad choices. Visit megaphone.fm/adchoices

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He ran an auction house. He's an auctioneer. And now he's Donald Trump's pick to lead the IRS. Fun fact about Billy Long, he's previously voted and has sponsored legislation to completely abolish the IRS. And he also wants to replace income taxes with a 23% sales tax. You know who that would screw? 99% of Americans. You know who that would help? The billionaires. Let's break this all down.

But with Donald Trump, you always got to follow the money. You always got to follow Donald Trump's scams and Donald Trump's grifts. So when we used to show you all of those advertisements on Truth Social, Donald Trump's social media company, they all looked like this. Remember? And by the way, I censor out Donald Trump's face on this so you don't have to see it. An IRS loophole that can help save your retirement during Biden's recession. There was no Biden recession, but this is what Trump would post these advertisements on his social media platform or this. Trump advises you to read between the lines. A little-known IRS strategy allows Americans to protect their retirement savings in any market.

They push you to this scammy stuff right here. This is another ad on Trump's social media platform. Trump's tax loophole. Trump's indictment is making headlines, but so is his IRS loophole. Learn how you can take advantage. I mean, how Trump can take advantage of people who are gullible on his social media platform, who give him all of this money that he grips off of, or this, escape the digital dollar, use Trump's IRS loophole to escape

the surveillance of your transactions. And all of this stuff eventually finds its way to help Donald Trump and the billionaire class. As Americans for Tax Fairness, right? Breaking. Trump just appointed a new IRS commissioner. The problem, there is a current IRS commissioner, and the current IRS commissioner is doing quite well, and his term doesn't end until 2027. And so Donald Trump would have to fire the current IRS commissioner. And the current IRS commissioner has overseen over $1 billion recovered from wealthy tax cheats. He's improved customer service efficiency at the IRS is at an all-time high.

And he started a free online filing service that probably made it much easier for you to submit your taxes. But billionaires hate that. And they hate Biden's tax system, right? Under the proposals that President Biden had, people like Elon Musk would pay an additional $50 billion, while Amazon founder Jeff Bezos would pay an additional $35 billion under President Biden's tax plan. And President Biden announced his tax plan as saying, look, billionaires just need to pay their fair share. They need to pay the same types of taxes that other people pay because

billionaires are almost paying like no federal income taxes at all by using actual loopholes, not the scammy loopholes that we're talking about here. So let's talk more about Billy over here. Billy Long, the Missouri MAGA Republican Congress member. Let's take a look right here. This is from the Daily Kosthago. Trump's pick to lead the IRS wants to abolish the IRS, of course. Talks about Trump nominating this Missouri Republican Congress member. Long was a co-sponsor of the Fair Tax Act,

a bill that would abolish income taxes and instead implement a whopping 23% sales tax, which is a regressive tax that the Tax Policy Center said would lead to tax increases on the middle class and a massive tax cut for the wealthiest Americans. The bill Long co-sponsored also sought to repeal the 16th Amendment to the Constitution, which gives Congress the power to create and collect income taxes,

and ultimately would abolish the IRS entirely. The Bill Long co-sponsored tracks the exact language of Project 2025, the right-wing roadmap for Trump's second term. Like the Fair Tax Act, Project 2025 calls for replacing individual and corporate income taxes with a consumption tax, which the Center for American Progress said would lead to a $5,900 tax increase for the middle 20% of households and an average $2 million tax cut for the 0.1%. Long was also the co-sponsor of a bill that would repeal the estate tax, which only kicks in for people who inherit more than $13.6 million, amounting to yet another giveaway to the mega rich. Since leaving Congress in 2023,

Long has served as the tax advisor to businesses and has encouraged them to use a pandemic-era employee retention tax credit that's cost the government billions more than anticipated due to it being rife with fraud. Trump touted this work as the reason why he chose him to lead the IRS. Here is what Senator Ron Wyden, the Senate Finance Committee chair, issued the following statement. Let's understand why this nomination should set off alarm bells, Democratic Senator Wyden says. This is not a typical nomination like you'd see after every presidential election. Danny Warfel was confirmed by the Senate to serve as the IRS commissioner until November 2027. And even Trump's IRS commissioner, Charles Reddick, served a full term. Since Mr. Warfel has been on the job, the IRS has vastly improved taxpayer service,

set up a tremendous direct file system, and begun badly needed crackdowns on ultra wealthy tax cheats who rip off law abiding Americans. If Trump fires Mr. Warfel, it won't be to improve on his work. It'll be to install somebody that Donald Trump can control as he meddles with the IRS on people who Donald Trump didn't like. And again, this goes on to say, there's no reason to believe he'll behave any differently in his second term. There are a lot of reasons why former Congressman Billy Long is a bizarre choice for this role. What's most concerning is that Mr. Long left office and jumped into the scam-plagued

industry involving employee retention tax credit. These ERTC mills that have popped up over the last few years are essentially fraud on an industrial scale, conning small businesses and ripping off American taxpayers to the tune of billions of dollars. I'm going to have a lot of questions about Mr. Long's role in this business. First and foremost, why the American people ought to trust somebody involved with a fraud-ridden industry to run an agency that's tasked with rooting out fraud. That's why, you know, these elections have consequences, folks. So those who have voted for Donald Trump, unless you're a billionaire, you just voted to increase your taxes and to let billionaires not pay any taxes at all.

Here, by the way, if you want to see what Billy Long is known for, he used to do his auction schtick when he was on the House floor like this. Play this clip. So one other thing, being an auctioneer in Congress, the way our debt is running out of control, they find it very handy to have Jeff Duncan and myself here in Washington. We are one of the few people that can actually keep up with a national debt. $6 trillion, $7 trillion, $8 trillion, $9, $9, $10, $10, $11, $11 trillion. I'm here at $12, $12, $12, $13. You're out of here.

$13 trillion, $14, $14 trillion. Now, $15, I have sold at $14 trillion. Thankfully, Mr. Speaker, we also can say those numbers backwards. So we get the spending under control here. I'll be back. The one amusing time he did it, though, was when Lauren Loomer was interrupting a committee here. And I'll give him credit for that, where he did the auctioneer, you know, one, do, do, do, do, do, do, do, do, do, do, do. Here, watch this. Here, play the clip.

The election. That is why he is censoring and shadow banning. I'm at a 10, 12 and a half, 15, $20 to the hand, five, seven, a half, 30, $30 down here to a half, five, 35, seven, a half, 40, $40 to a half, $5.75, $30. $30 down here to the hand, $5.35, $7.40. $40 to the hand, $5.45, $7.50. $50 down here to the hand, $5.55. Officer, will you escort this young lady out, please? $50 to the hand, $5.55, $7.50. $50 to the hand, $5.55, $7.50.

$80 to the hand, $5.85, $9.80. $100 to the hand, $10 to the hand, $1.25, $1.25. $1.5 to the hand, $2.25. $2 to the hand, $3.00, $3.00. $3.25, $3.25. $1.5 to the hand, $3.50. So here's a pretty cool and positive story I want to share. So I got my uncle MD hearing aids, and I saw him recently over the past weekend, and he told me how much better his hearing has been. This podcast is sponsored by MD Hearing. MD Hearing is an FDA registered rechargeable hearing aid

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This is Jeff Bezos, who's worth $226 billion with the beat. And so when he's out there saying how much he wants to support Trump, it's really all about people like installing people like Billy Long, who will allow Bezos not to pay taxes. Apparently, being worth $226 billion is not enough for the billionaire class. They need to be worth a trillion dollars while average Americans get screwed. And that bothers me. Here, play this clip right here of Jeff Bezos at the recent New York Times event. Let's play it. For talking about Trump, I think it's very interesting. I'm actually very optimistic this time around that we're going to see, I'm very hopeful about this. He seems to have a lot of

energy around reducing regulation. And my point of view, if I can help him do that, I'm going to help him. What about the idea that he thinks that the press is the enemy? Well, I think he, I'm going to try to talk him out of that idea. I don't think the press is the enemy. And I don't think, you know, he's also, you've probably grown in the last eight years. He has too. Like it's, you know, this is not the case. The press is not the enemy.

I hope you're right. I hope I'm right too. Have you talked? Let's go persuade him of this. No, let's do it. Have you talked to him about it? No, but you and I should go. Let's go talk to him.

If we could try. i really don't i i think that this is absolutely um uh he he i i don't think he's gonna see it the same way but maybe i seen so far is that he is calmer than he was the first time and more confident, more settled. Well, there you have it, folks. Hit subscribe. Let's get to 4 million subscribers together. Thanks for watching and have a good day. Love this video? Make sure you stay up to date on the latest breaking news and all things Midas by signing up to the Midas Touch newsletter at MidasTouch.com slash newsletter.