The Young Turks - The Young Turks 11.27.17: CFPB, Trump Calls Warren Pocahontas, TIME Magazine, and The Access Hollywood Tape

Episode Date: November 29, 2017

A portion of our Young Turks Main Show from November 27th, 2017. For more go to http://www.tytnetwork.com/join. Hour 1: Cenk & John. Mulvaney & Consumer Financial Protection Bureau. Trump calls Warren Pocahontas again. Taxes bill update. Breitbart editor Joel Pollak defends Roy Moore.  Hour 2: Cenk & Brett. Trump on TIME magazine. Trump: the Access Hollywood tape isn’t real. NYT profile on American Nazi’s: they’re just like you! Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

You're listening to the Young Turks, the online news show. Make sure to follow and rate our show with not one, not two, not three, not four, but five stars. You're awesome. Thank you. This TYT clip is brought to you by Squarespace. Start your own free trial today and build your own website. You can do it at Squarespace.com slash TYT and you get 10% off your first trial. I love the young Turks, exciting, eventful Monday show as usual.

Too much news. Yes, indeed. Jake Huger, John Iderall, with you guys. So we have incredible constitutional drama at the Consumer Financial Protection Bureau. We have drama at the Washington Post as Roy Moore supporters attempt to infiltrate the Washington Post. That is going to be a hilarious story. And then we've got Donald Trump's obsession with Time Magazine, which then turns into the Koch brothers,

kind of halfway buying Time magazine, which is amazing. And I've got a lot of thoughts on that. So it's chock full of news as every Monday in the Trump administration certainly is. So I would say, without further ado, let's get to start. Oh, wow. Okay, probably not a bad call because we do have a lot to get to today. Yeah. As of this week, the Consumer Financial Protection Bureau now has a new head, but I can't really tell you who it is. It depends on who you talk to. It's a complicated situation.

Director Richard Cordray, who was appointed by President Obama as the first person to run the agency, resigned effective last Friday. And then some complicated shenanigans began. President Donald Trump said that Office of Management and Budget Director Mick Mulvaney will be in charge in the interim until a formal direct. is appointed, but before leaving Cordray, who just resigned, designated deputy director Leandra English to fill his spot until a permanent replacement is nominated and confirmed. And as of this morning, at least, both were saying they were functioning as the head of the Consumer Financial Protection Bureau. Now, what's interesting is a senator who's sort of an expert on this organization, said that there really shouldn't be any complicated ideas of who's in charge of it.

If we could bring this up, you're going to see a tweet here. The Dodd-Frank Act is clear. If there's a CFPB director vacancy, the deputy director becomes acting director, and we highlighted that section right there that says they serve as acting director in the absence or unavailability of the director. That director has been absent since Friday. And so Senator Warren there has a very good point. But it's weird, the timeline.

If you bring up this next graphic, you're going to see that they're having sort of a game of thrown style back and forth where Mulvaney comes in, says he's hard at work, has a photo of him with donuts, Dunkin' Donuts, which is a good choice. I like those. Agreed. Leandro English is still signing emails as the acting director. Then several hours later, Mulvaney tells them to not listen to her, and then there's a lawsuit to figure out who is actually in charge of this. And for reasons we're going to get into, based on both an interview with Senator Warren, but also the results of an investigation by TYT investigates, it really matters which of these two is in charge of that organization. I believe the Lannisters are going to come out on top. You think so?

Yeah, because they always pay their debts, and this is the consumer financial protection bureau. They always reduce your debts. If only it were so. Okay, so, first of all, this is amazing. Second of all, the answer, I think, is relatively clear, and then how it gets applied is totally unclear. So the law that the Trump administration is using to justify Mulvaney as the acting director says that the president gets to fill vacancies at the executive branch. So far, that makes sense from the Trump point of view, unless there is a law saying how that vacancy would normally be filled. Now, in the case of consumer financial protection bureau, there is a very clear law, Dodd-Frank law, that says if the acting director, if the director steps down, the deputy director will become. I'm the acting director. It's so simple that we just fit it in that little tweet.

That's right. So the law that Trump is relying on is not relevant because that law says if there is no law saying who will be the director, then you can appoint it. But in this case, there is a law saying who will be the director. It's a Dodd-Frank legislation, which clearly says the deputy director will be the acting director. So I think a court could take about 30 seconds to decide this. Now, the application, though, is wildly complicated, because if you're sitting in the Consumer Financial Protection Bureau today, as the two different kings have shown up, right, one's a Lannister and one is Dornish, or whatever, right, a Stark, anyway, well, then you go to your own legal counsel, and the legal counsel has to decide who's actually the acting director.

The problem is that the legal counsel is taking their memo from the Justice Department. And the guy who wrote the memo at the Justice Department saying that Mulvaney should be in charge is a guy who was just working for a payday lender that was being, that was assessed a fine by the Consumer Financial Protection Bureau. And we've got a little bit more on that. Right. So the Trump swamp has decided that the guy who was just getting paid by the people that the Consumer Financial Protection Bureau was investigating should decide that it should be Mulvana who would like to literally destroy the department. altogether, he co-sponsored legislation to eliminate the department, to destroy it completely. It sounds like what you're saying is that the king has just died, and now Circe and the Starks want power, who will the City Watch go with, probably the payday lender that pays them?

Which I guess would be Littlefinger in this case. Yes, I was going to say Little Finger in the beginning. There you go. And so why is it so important to Trump and to payday lenders that they get Mulvaney instead of this other person? Well, there's good reasons for that. Now, we've got some information coming out of an article released today by TYT Investigates, which is on the website. You can see it, and it'll be linked in the description.

Over the course of Mulvaney's four congressional runs from 2009 through 2016, Bank of America, the American Bankers Association, and the Credit Union Association gave those sums of money to Mulvaney. And so that's worrying, since this is an organization that's supposed to provide a check on the rampant power of banks, the sort of crash that they instituted, that was the cause of the consumer financial protection borough being developed in the first place. But more specifically here, in 2016, Groupo Salinas, which owns the largest payday loan chain in the country, Advanced America, contributed $5,000 to Mulvaney's campaign. Last month, the CFPB introduced new strict regulations on payday loan practices, prompting Advance America's spokesman to call on Trump to

intercede, which apparently he is going to do. In fact, as you pointed out, even directly with having a person who worked for them, being the one who's sort of making the call on who gets to lead this group until a new permanent director is put into place. So let's pause there to see how swampy that is. So reviewing, this payday lender gets a notice from the Consumer Financial Protection Bureau. We are going to protect consumers from you. They are huge political donors. They turn to all the people that they have donated to, including the Trump administration and Mick Mulvaney. And they say, intercede on our behalf. Do not let them protect consumers from us. And the Trump administration goes, well, no problem. I'll get the, I'll put the guy

who you gave money to, Mulvaney, as the head of the group. And he wants to destroy the group, so he will destroy all regulations that might protect consumers from you. Okay. So I'll put Mulvanian charts and then I'll put the guy who's making the decision as to who the acting director is as someone who just worked for you. Yeah. So you're paid off enough people inside the government that don't worry, you will get to rob consumers just like you were planning to before this meddlesome group within the government meant to protect the citizens actually protects those citizens. This is Swamp 101. Yeah, and you had Trump over the weekend tweeting about how badly they needed reform at this organization saying that it wasn't working right for banks.

Every other part of the government works for the banks. This is the one part that is supposed to work for us. And in general terms, of course, you know, it's done great things over the past six or so years in helping to relieve people of unnecessary and contested debts, recover money for organizations and banks that broke the law in various ways, lots of stuff like that. But specifically here, we're not just talking about banks, which love to take a advantage of the people with the least power in this country. We're talking about payday lenders, which are the people that even banks don't want to be in the room with, that are specifically designed to steal every last cent from people who do not have a cent to have

stolen from them. And that's the group that they are fighting. After just a few extra regulations, a few protections for people like you, they're going to throw the Constitution in the trash so that they can get their way. Elizabeth Warren, by the way, was interviewed about some of this, said that Dodd-Frank is quite specific. It provides its own succession planning. There is no vacancy for President Trump to fill. And then had some thoughts on the two dueling heads of the organization saying Leandra English has been at CFBP from the beginning. And keeping her would give the American people a chance to look at this agency one more time and see how hard it fights on behalf of consumers. So that's English. Well, what about Mulvaney? She said the agency will

be headed by someone who fundamentally doesn't believe in its mission. This would change every calculation that every giant bank makes in the executive suite when deciding just how close to breaking the law they want to come. If the cop is pulled off the beat, then the profits from cheating people look far more attractive to the banking executives. And I love that TYT investigates is looking into the donors and has that. I mean, that definitely cause for concern, a financial conflict of interest in the case of Mick Mulvaney. But as you alluded to earlier, in this particular case, I'm not sure that we necessarily need it quite as much because this is a guy who has called this organization a sad, sick joke, then today said that that's not fair. He was misquoted.

What he actually said is it's a joke in a sick, sad kind of way, which I'm not sure is actually better. And as you said, in 2015, co-sponsored legislation to literally eliminate it entirely and said, quote, I don't like the fact that CFPB exists. I think that's pretty clear. It's pretty clear. It's putting the bank robber in charge of the bank. And so, now, It's funny because they've got $12 billion in reasons as to why to do it. And this is just what's happened in the past, let alone the future. It has so far, the Consumer Financial Protection Bureau has handled more than 1.2 million consumer complaints.

So that's you guys saying, hey, I think my bank might have ripped me off. Now, what do they do next? They don't just take your word for it and then just throw money at you. No, they do an investigation. And a lot of those complaints sometimes are not merited, sometimes they're too hard to adjudicate and et cetera. But some of them are legitimate. In fact, a lot of them are legitimate. And once they've gone through that, they then have to deal with the army of lawyers of the banks throw at them.

And after all of that is through, they returned $12 billion to American citizens that the banks had clearly, indisputably, even their lawyers and say, okay, let's pay this one back. $12 billion that they had taken from you and put into banking executives' pockets. Now, the people in New York and Washington in the elites, they wonder why regular Americans don't like bankers. They're always like, so surprised, why? In the cocktail circuit, I've got a lot of great banking friends. And the reality is, of course, you need banks. And of course, there are plenty of great people who work in financial institutions.

But yes, there are also people who ripped off Americans to the tune of at least $12 billion, which this agency got back for the American people. So the banks hate this agency, because they want to be able to rip you off. Not every bank, not every executive, not remotely, but a lot of them. And also, and it's really important to point out, and you sort of did already, that they recovered the $12 billion. But think about what Elizabeth Warren said about the effect on behavior. $12 billion is what they still stole and the organization was able to get back. But what about the fact that that organization existing, it's investing.

existing changing bank behavior so that they don't steal tons of other money. It might be far, far more than the $12 billion. That's right. And Trump ran against the global financial elites. He mentioned them in one ad after another. Now, you want to talk about a sick, sad joke? That's unfortunately, not only the Trump campaign, but I got to be honest with you, the joke is on the Trump voters.

So he told you he was going to drain the swamp, and he was against the, the financial elites. Now he turns around and in his tweet he said, quote, financial institutions have been devastated. The poor financial institutions that he ran his whole campaign against. He's now heartbroken over how the Consumer Financial Protection Bureau has actually regulated them and been effective cops, somewhat effective cops against them. He says the poor banks, the poor banks. Let me bring in Mick Mulvaney, who I know wants to destroy this on behalf of his banker donors to go ahead and destroy it. Right now, technically, I can't make him the acting director.

Who cares? What are we in a democracy? I don't give a damn about the law. I'm going to get another corrupt guy in the Department of Justice to do an opinion saying, sure we can. Now, look, it's going to go to the courts and you're going to see we're going to be proven right. Because the law is actually exceedingly clear. Yeah.

Even if it went in front of Republican judges, I would be shocked if they weren't like, come on, man. It says right there, unless there is a law saying how the director is picked. And there is a law saying how to direct respect. You don't have any authority here. But by the time that they've done that, Mulvaney will have, you know, cause chaos at the agency, completely debilitated it, and let his banker friends run wild. And not the good bankers, but the ones that intend to do harm and that don't want any cops on the street.

So that's who Trump is. That's who Mulvaney is. And right now, they're letting their, the bad bankers walk into the bankers walk into the back of the bank with huge duffel bags going home payday maybe, time for us to go back to work robbing American taxpayers. And that's what they're going to do. We have a little bit more news on Elizabeth Warren, but why don't we take our first break and we'll come back with that.

Yeah, just if you're a Trump voter, look, it's okay, guys. Everybody makes mistakes. I've made a thousand mistakes in my life. Just admit it and move on with your life. He's going to destroy the internet and he's going to let the banks rob you. He suckered you. It happens. I've gotten suckered in the past, okay?

If you don't want to admit it, well, you're blind or painfully stupid. Being suckered sucks and it's embarrassing, but continuing to go along with it once you realize you're wrong initially, that's worse. Yeah, it's like, oh, the three-card Monty guy, why did I fall for that? That was so stupid, I know it's a trick. Dumbled down. Oh, you know what? Hey, here, let me give you another $100.

Yeah. All right, no, walk away, stop digging. But okay, if you want to let the bankers take more money from you, even though you voted for Trump to stop the bankers. I can't stop you from being an idiot. All right back. Thanks for listening to this podcast. You're only halfway through. So hold, hold, stay right here. Just want to remind you if you want to get all five segments of the Young Turks commercial free. These are just two of them. Every day we do it. So go to t-y-tnetwork.com slash join and you'll get the whole five segments, two hours. Add free. Do it now.

All right, back on the Young Turks. Jank and John with you guys read some tweets here. Lauren Quincy writes in, I got out of work early, can finally watch you guys live, hashtag winning. Indeed, Lauren, I hope and believe that you are winning. Eldor 118-on writes in, in the hands of the GOP, isn't the CFPB just an exercise in irony? That is certainly true to say the least. It's one of the clearest examples of what we saw when he was doing his appointments to the cabinet, just choosing people who are specifically targeted to destroy it.

So DeVos had talked about shutting down the Department of Education. She becomes the head of education. But these are specific quotes. Rick Perry said he would eliminate Department of Energy. He's appointed the Department of Education. Those are not accidents. They're not coincidences. They were not picked despite those quotes.

They were picked because of those quotes. Same with Mulvaney. He's like, this is getting in the way of our banker donors. It's a seek and destroy mission. If you think the Republicans are against big bankers, you're a fucking moral. You don't know anything about politics. Go ahead, keep voting for them, and they'll laugh at you behind your back at the cocktail score as they're clicking martini glasses.

Moron Republican voters, helping to let us rob them blind. Which is a really bad toast when you get right down to it. Yeah, well, they think it's hilarious. Anyway, Eric C. Olson says, nice haircut, jank. You as well, John. Thank you. I don't really like mine, but thank you. Thank you.

Let's keep going. Yeah, really fast. It's just seven seconds of old school. It seems frustrating. I don't cut hair. It's probably harder than I think it is. But if you show them a picture of yourself with the haircut you want, you shouldn't you get it?

Yeah, well, it depends on where you go. Now that works out. Yeah. It's like I look at this picture, I look at me in the mirror, I'm like, not even close. Anyway. Yeah, I another hand, go, what do I know? Make it short, but not too short.

I'm in your hands. Okay. All right. Actually, you reminded me, it's fine. Guys, I think this is the last day of Black, 10 days of Black Friday. I believe it's not like 13 days of Black Friday. Anyway, it's a thing that's invented called Cyber Monday. So we're doing a sale, and it's ridiculous because it's now 35% off of everything. But you've got to use the code, treat yo self.

Treat yoself, okay, because we are very hip and cool. So that says shop t-y-t.com, go nuts, as you have been looting the place over this Black Friday sale. I forget if it was J-R-R-Benz, but at the production meeting, they cited a Conan O'Brien tweet that said Donald Trump called Black Friday the most ungrateful of Fridays. Anyway, okay, let's get back to the news. Okay, today someone made the horrible decision of allowing Donald Trump to speak at an event honoring Native American. and code talkers who served during World War II, and because of that, no one was really that shocked when this happened. We need to talk about a relatively new show called Un-F-Inging the Republic, or UNFTR.

As a Young Turks fan, you already know that the government, the media, and corporations are constantly peddling lies that serve the interests of the rich and powerful. But now there's a podcast dedicated to unraveling those lies, debunking the conventional wisdom. In each episode of Un-B-The-Republic, or UNFTR, the host delves into a different historical episode or topic that's generally misunderstood or purposely obfuscated by the so-called powers that be. Featuring in-depth research, razor-sharp commentary, and just the right amount of vulgarity, the UNFTR podcast takes a sledgehammer to what you thought you knew about some of the nation's most sacred historical cows. But don't just take my word for it. The New York Times described UNFTR as consistently compelling and educational, aiming to challenge conventional wisdom and upend the historical narratives that were taught in school.

For as the great philosopher Yoda once put it, You must unlearn what you have learned. And that's true whether you're in Jedi training or you're uprooting and exposing all the propaganda and disinformation you've been fed over the course of your lifetime. So search for UNFDR in your podcast app today. and get ready to get informed, angered, and entertained all at the same time. I just want to thank you because you're very, very special people.

You were here long before any of us were here. Although we have a representative in Congress who they say was here a long time ago. They call her Pocahontas. But you know what? I like you. Oh my God. I thought it was a joke when someone tweeted about it at first.

So those guys served in World War II. They broke the Nazi code so that America could win. And while honoring them, he makes jokes about Native Americans. There is no bottom to that barrel. I would say before you get to the Pocahontas stuff, it's inane and childish with his compliments that you've been around. long before we were like to say that it was brave that you served say that it was amazing that you guys were able to put to use languages that they could not decipher and that gave us the edge talk about those things not just you've been around long before that's just calling them

old and then to unnecessarily bring it's his stream of consciousness thing he's talking about something Elizabeth Warren pops into his head so he has to say it it has nothing to do with anything but he has to bring it up again He said Pocahontas while honoring Native Americans who served during World War II. He's been told many times by organizations representing Native Americans, please, including the specific tribe that she comes from, or came from, I should say, please stop doing this, but he refuses. And he says other people call Pocahontas.

You're the only person who calls her Pocahontas in the world. The other, so look, the role in Native America's in World War II, they played a huge role, but there's other people who helped create codes, break codes, et cetera, on all sides. And in England, there's a famous case of the person who broke the Nazi code. So there's obviously a lot of people involved, but he was a critical player. And then it turned out later that we found out he was gay, and then he was mercilessly crushed for being gay. like Trump honoring him and using the F word. Like, hey, I hear F's like you, we're all so good.

Like, what the, how can you say that? It's a Tuskegee Airman or whatever. Oh, okay, you end words. I guess you were helpful at some point. What the hell? You can't say Pocahontas while honoring these people? He's exactly the sort of Republican president that will refuse to go to like an NDACP event.

Thank God. God knows what he would say that if he actually showed up. But, of course, as many people have pointed out, it might even be worse than the Pocahontas thing, because in that video, behind them is a picture of Andrew Jackson, who he put up in the Oval Office, thanks to the suggestions of notorious racist Steve Bannon. Andrew Jackson, of course, signed the Indian Removal Act. That led to the Trail of Tears. About 15,000 Native Americans are estimated to have died during that. And then he, of course, led military genocidal acts against Native Americans up and down the coast and all that. But this isn't

Actually, the only thing that he's done with the Pocahontas and all of that, I did a little bit of research, and back in 1993, Donald Trump was on Don Imus's show and said, I think I might have more Indian blood than a lot of these so-called Indians that are trying to open up reservations. During a congressional hearing on Indian gaming, he testified and said that the Mashantucket Pequots of Connecticut, quote, didn't look like Indians to him, so they should not have had a casino. He also took out in New York when an Indian tribe was trying to have a casino. He paid a million dollars secretly in ads in newspapers, radios, and TV calling the Mohawk Indians drug users and drug dealers and said that if they got their casino, it would bring

crime and broken families and, quote, in the case of the Mohawk's violence, because they're violent Native Americans, apparently. They never reported that spending him and Roger Stone. And so because of that, the state lobbying commission imposed their largest ever civil fine against him for that. And look, so let's be a hate them. Let's just review all the things wrong with Donald Trump, just in this tiny little story. One, remember, he ran casinos. It's not like he thought casinos were a problem that created crime by definition. Yeah.

So, no, he was just trying to kill off his competition. So because of greed, he will say endlessly racist things that he doesn't care about at all. says that he's to Native Americans honoring Native Americans. Donald Trump doing that. You might as well have Andrew Jackson do it himself. Yeah. Okay. And I remember when John Ashcroft covered a statue in the Justice Department because he might

have seen her nip, right? But you're going to do an honoring of Native Americans right under Andrew Jackson's picture. Okay, fine. So greed. Second of all, at least not be stupid enough to say it on camera while you're honoring them. like Pocahontas, thereby reminding everybody of all the racist things you've said about Native

Americans in the past, right? So greedy and stupid. And then finally, what's the uniting theme? Racism through and through. Anytime you see someone that is not white, he's like, oh, okay, the Central Park Five, it turns out they were innocent, I don't care, they're black, they should be executed or stay in jail forever. Anyway, I don't care, I don't care.

Puerto Rico, what is, oh, they're lazy, they're not even helping themselves. Native Americans, Pocahontas, violence. etc. He goes to racist stereotypes immediately in every single case. And if you're still defending him, that's okay. But if you watch this and you know this and you could look it up, you don't have to trust us. You can look it up in the Central Park 5 in every case that I referred to. If you still like him, you know what that means? You're a racist. Go ahead, flip out and cry and be a snowflake. But you are. You're a deep-seated bigot and racist who likes Donald Trump not despite the fact that he's a racist, but because of the fact that he's a racist.

By the way, it also involves, if you go back to some of the research I was talking about, how cheap he is. Because while he was running those ads to stop one Native American tribe from being granted the license to have, I believe this is in Northern New York, a casino, he was also sponsoring legal help for a different Native American tribe that said that if he pays for the legal research to establish their lineage and to get the sort of certifications they need to have an Indian gaming casino license, that they would, then give him a management fee afterwards. Now, he did that. He got the legal research done. They were granted the legal status. He didn't end up getting the casino in part because one of the people on the regulatory commission that had to vote on it had seen his previous comments about Native Americans, and

so they didn't like him. But after that, after he didn't get it, the legal team that did the research so that they could get the certification came to him and said, so you still haven't paid us the $600,000 you owe us Trump. And he said, I'm so high profile, you should do it for free. At TYT, we frequently talk about all the ways that big tech companies are taking control of our online lives, constantly monitoring us and storing our data. But that doesn't mean we have to let them. It's possible to stay anonymous online and hide your data from the prying eyes of big tech.

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IT. Check it out today. And that was the only reason he was going to get the management fee was because of that legal research. He didn't pay for it. In the end, they did end up getting the money. I don't know if it was a $600,000, but he refused initially to pay it. After all this, to be fair, the Trump supporters, maybe Trump himself, you know, he was disrespecting act military vets, part of the greatest generation in front of everyone, just completely disrespecting him. Good thing, all the people that are mad about Colin Kaepernick and the kneeling, They're also mad about this disrespect of the military because they actually care about the military.

It crosses all lines, you know? They're outraged. They put Colin Kavanaugh in one picture, then they put Donald Trump in the other picture. They're like, they're both disrespecting our military that we love for. They must. JR, man, this just came in. I hope you're not crestfallen. But it turns out they're not doing that.

It turns out they don't mind at all. What he said? I saw like memes and gyps. Yeah. Oh, you think so? Also, by the way, so if we lived, you know, like maybe. at some point in our history we did where, like, facts matter and all that, then what I'm about to say would matter. I acknowledge ahead of time, it ain't going to change any minds.

But this whole thing about Pocahontas and her was based off of lies that Scott Brown told about her and her. Like, all the stuff they said about her claiming to be Native American wasn't true. She was added to some lists. There is no evidence that she proactively ever applied as a Native American to get a job. And in fact, they have many of her applications that show that she's self-identified as white. So the whole thing, on top of everything else, is based on a goddamn fake news. Yeah, and look, the uniting theme of everything about Trump's life is, you're the world's biggest sucker if you ever trust Donald J. Trump.

The guys who, you know, the $600,000, you trusted him, you're an idiot. All the people who ever lent him money, with the exception of Vladimir Putin. Okay, totally screwed. By the way, Putin's also screwed. He wanted the sanctions lifted, and Trump hasn't been able to lift him. He hasn't put into effect the new ones that was voted on bipartisanly. Yeah, and six different bankruptcies. If you voted for him, thinking you were voting against the global financial elites,

and now he turns around and says the global financial elites deserve more help than ever from the government. Suckers! If you're a woman who ended up marrying me, it turns out that the small hands actually were a bad sign of things to come. Everybody gets screwed. Well, but not that much, apparently. Finally, to continue on a dirty theme, look, I, you know, those veterans there, they're receiving an award. It's not the time or the place. And so I'm not been crushing him at all, but it would have been awesome if one of them, after hearing, not before, after hearing the Pocahonda's comment, there's a mic right there, like shake his hand and go, oh, by the way, fuck you and that guy up there.

on that picture. So thank you very much. I help save this country. I hate to see it being turned off over to the fascist like you who I fought against. That would have been awesome. That would have been great. They've done enough, but that would have been great. Yes. Yeah. Okay, let's turn to something slightly different also in the news this week. This week, Senate Republicans are planning to hold a vote on their tax reform bill. Now, it's been a little bit since we had a show, so why don't we check in and see what their chances are of getting that passed? There's a new CBO report. And in addition, there's been a few more nonpartisan outside of the CBO analyses of the likely effect of the tax bill.

And it's just getting worse and worse. Turns out it will ultimately raise taxes by 2027 on more than half the country. This tax cut bill will raise taxes on half of you, at the very least watching this video, possibly more. specifically by 2019, Americans earning less than $30,000 a year would be worse off after this bill than if you didn't have it at all. Remember, this is a tax cut bill. By 2021, if you're under $40,000, you'd be net losers. And by 27, it rises all the way to $75,000 a year. So if you make more than that, you might at least break even for a while. The country will probably end up going bankrupt. But you'll be okay for a bit. If, however, you make as much as the vast majority of this country does, you're going to be screwed in just a few years. However, no, millionaires and those earning 100,000 to 500,000 would be big beneficiary, is according to the CBO's calculations. So, yeah, I wasn't really doubting that from the beginning, though. This is amazing.

This is the most literal wealth redistribution I have ever seen in my lifetime of covering politics. Yeah. But they are redistributing the wealth from the poor in the middle class to the top. It's amazing. It's the most brazen thing I've ever seen. And that's why, by the way, the stock market is booming. Among the reasons why, and why a lot of the corporate CEOs, backers, et cetera, have not backed away from Trump.

It doesn't matter if he thought there was some good people on the neo-Nazi side. It doesn't matter all the terrible things he's done. His obvious, over-the-top incompetence, nothing matters. They're like, oh, yes, for all the middle class. Give me their money. Give me their money. I want to redistribute wealth. So you want to talk about class warfare?

This is class warfare. So right from the beginning, analysts said, that a third of the middle class would immediately get tax increases. And by the way, I should apologize. They always called it tax reform. And I said, look, call it what it is. It isn't tax reform. It's tax cuts for the rich.

And by the way, 80% of the cuts goes to the top 1%. 80% of the cuts to the top 1%. But it turns out I was wrong. It isn't just tax cuts. There's also tax increases. So it could fairly be called tax reform. Or just wealth-free distribution. So now the tax, this is the way that it works.

Mainly, it's corporations that are getting a tax cut from 35 to 20%. Or if you're on a business that's a pass-through business like Donald Trump does, you're getting a massive tax cut. If you are already a multimillionaire or a billionaire, you're getting a gigantic tax cut in the estate taxes, et cetera. In order to pay for that, even before you get into deep cuts they're going to have to make later, into Social Security, Medicare, Medicaid, etc. Well, what are you going to do? Number one, you're going to run up a giant deficit. So it is at a minimum, one and a half trillion dollars they're going to add to the deficit. Plus debt servicing and all that. So if you're, and the Republicans admit that. So from now on, if you're a Republican and you like this plan, you are never, ever allowed to say that you're for balanced budgets because you're not.

You don't like balanced budgets as long as you're the one getting the wealth redistribution. You don't talk about Obama phones? This is Trump Yachts. To the rich and to the corporations. The yachts probably have phones, to be fair. Yeah. So they admit they're adding $1.5 trillion to the deficit, and they don't care. They never cared about the deficit. Never.

It was always to serve their rich donors. Now, secondarily, once you get past 10 years, it's this, oh, a third of the middle class getting tax increases to pay for the tax cuts for the rich? Not nearly enough. After the 10 years, everyone, almost everyone under $75,000 is just. John just explained you, everyone under $75,000, your taxes go up, your income and your services go down, so you have to bear the burden of all the corporate tax cuts and the tax cuts to the billionaires. It's insane. This is the greatest robbery in American history.

And so if you want to, if you're one of those folks, whether by the way, if you're on the right or the left, and you thought the system was rigged. Well, this is exactly how it's rigged. They have private financing of elections, and then the politicians work for the people who finance their election, which are private interests. Did you finance their elections? No. So they don't work for you.

They work for the people who sign their checks. So they go, okay, thank you very much for all those donations. Now here's the goodies that you want, trillions of dollars. Where are we going to get it from? We're going to get it from the idiots who think we have a democracy. And then we'll turn around and go, what, Rick, how? What do you mean? What do you mean?

Those people saying that the politicians might work for their donors? Well, we don't allow them on TV. We never talk about it on TV because some of the money goes to TV. So this is how it's rigged and this is how they will rob you blind. This is why we need a revolution, a political revolution, because as long as they keep working for their donors, they're going to keep on robbing you. This is just the most spectacular case of it. Yeah. Well, why don't we talk about this week, what are their chances of actually passing it?

Because we saw earlier this year, you know, we were really worried about them repealing health care. And obviously there's a big component of that in this as well. And even though the hip thing to do is attack people who are resisting Trump for some reason, thankfully that resistance did actually work, and they failed in their attempts to take away your health care at that point. And so this week is go time for the second round of that to try to get enough Republican votes to flip against the tax bill to make sure that it doesn't pass. A couple of weeks ago, we told you that Ron Johnson said that he would not be voting for it, or not be voting yes, I should say. In its current incarnation, today we got the second.

Senator Steve Daines, a Republican of Montana, came out and said that he would not vote in favor of it because it was too slanted towards helping corporations. And that Montana Republican did not say that because he has long felt that we're too good to corporations, he's worried about the electoral repercussions if he votes for it. Two, however, is not enough, which means that you need to do what. whatever you can to put pressure on the other people who have are considered sort of in the middle on the bill. We're not sure if they're voting yes or no. Some of those people, this is not exhaustive, but would include Senators Collins, Corker, McCain, Murkowski, Flake, and

Lankford who have spoken at least at times critically of the bill. Now, if one or two more of those turn against it, then we've got something, at least until they modify the bill. Look, this is a classic Overton window stuff. So Trump comes in with a proposal to take every single dollar you have and give it to the richest person in America. Then the Corkers of the world go, oh, come on, no, no, no, that's too much. You know what, why don't we leave you with a couple of bucks and then take 80% of your money and give it to the rich? And then the people on TV go, Bravo, Corker, bravo, what a moderate you are. And 80% robbery all of a sudden becomes the moderate centrist position.

So you have that robbery to look forward to. Assuming that they come back to, I mean, right now he needs to vote against this. They could come back to repealing Obamacare at any time, but at least for the last six months or so, they haven't. And so, look, as much as like John McCain voting against it doesn't absolve him of all the other terrible things he did, at least he voted against it. And at least for those six months, people still have their health insurance. Here's my prediction ahead of time, as usual. You will see Morning Joe wildly applauding so-called centrist Republicans and some Democrats

as they turn around and vote for some version of this bill that is not quite as draconian as this, but still takes money from the middle class and gives it to corporations and the rich. Oh, I think 100%. And we knew that long before Trump won the election. That was one of the made reasons we needed to stop him from winning because they would get something. like this. However, you misspoke there. They won't see that on Morning Joe, because I heard from Donald Trump, the ratings are terrible. Nobody watches it. Until they applaud them again. Yeah. Yes.

Okay, why don't we do our, oh, by the way, this is just one other thing. This bill is so goddamn unpopular. New public policy polling poll, 51% of small businesses opposed it as well, only 34%. You know why? Because it's not for small businesses. And because people are learning. Like, they're actually, they're learning. They've been through cycles of, this. before they know that the rhetoric is lies. Look, to be fair, the pass-through rate could help a lot of small businesses, could not help the business, but could help the owner because he would have to pay lower taxes. Now, he doesn't have to reinvest that money back into his business. That's his choice. And then some of them will do that to grow their business, which is logical.

Some of them will just keep it. And some of them, if their business success, successful enough, will get a yacht, a Trump yacht, okay? So good on those folks that would benefit, still saying no, terrible for the country and the economy overall. But for a lot of small businesses, this bill doesn't help you at all. You know why? It's not structured for small business. It's structured for gigantic businesses. Yeah. It cuts the corporate tax rate of multinational corporations to the bone. And then they'll cheat. And they'll still offshore the money. So they'll go from, you know, it's 35% now, but their effective tax rate is around 22% because of all the loopholes. now the new rate will be 20%.

And because of the loopholes, it'll be down to like 9% that they're paying. Or negative 3. Yeah. And by the way, when the big corporations don't pay it, a lot of times what they do is they move the tax burden onto smaller corporations. And it's a twofer for them. Not only do they shift the burden onto a competitor, but they help to crush the little guy.

And then meanwhile, because they don't want to compete with the little guy. So that's why a lot of small business owners going, fuck you, you're not in it for me. You're in it for you. And I'm savvy enough to understand that. But at least most of you watching this will eventually benefit from the estate tax being removed. You got that looked forward to. It takes a while. You've got to wait a few decades.

But eventually you'll be able to pass on your inheritance to the children. Yeah. All right. When we come back, yeah, oh, yeah. When we come back, conservatives try to trick the Washington Post, and the results are hilarious. You'll love that story when we come back. Thanks for watching what I hope was a lovely edition of the Young Turks. Now, you know that that is two of the five segments that we do because that's free.

We want to have you support independent media and come watch the whole show that we do every day. That's five segments overall. No ads at all. That's at t-y-tnetwork.com slash join. Come become a member. Thanks for watching either way. Thanks for listening to the full episode of the Young Turks. Support our work.

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