Sam Seder

with the National Labor Relations Board, with just the appointments of people like Abruzzo as the general counsel there, the extension of unions' ability to unionize and helping working people in that way, and then the antitrust regime that was largely a function of the Warrenites putting in their people to undermine big concentration of money and power. Those are big positives.

with the National Labor Relations Board, with just the appointments of people like Abruzzo as the general counsel there, the extension of unions' ability to unionize and helping working people in that way, and then the antitrust regime that was largely a function of the Warrenites putting in their people to undermine big concentration of money and power. Those are big positives.

So, you know, do I like Joe Biden? No. But I also know that if there are the right coalitions formed that that have, you know, influence within the context of an administration, that's good from my perspective.

So, you know, do I like Joe Biden? No. But I also know that if there are the right coalitions formed that that have, you know, influence within the context of an administration, that's good from my perspective.

Health care, single payer health care. Yep. I am for increased ability to unionize. I am for decommodifying parts of the housing sector. I am for decommodifying power. I am for decommodifying access to the Internet. I mean, those are my big ones right there.

Health care, single payer health care. Yep. I am for increased ability to unionize. I am for decommodifying parts of the housing sector. I am for decommodifying power. I am for decommodifying access to the Internet. I mean, those are my big ones right there.

Well, who in the Democratic Party is for that? I don't know that there's anybody in our party who embraces all of those. I mean, that is a major political figure. I mean, I think I'm to the left of the Democratic Party. But I think there are elements of what I want that are represented by people in the Democratic Party. I mean, I think having a...

Well, who in the Democratic Party is for that? I don't know that there's anybody in our party who embraces all of those. I mean, that is a major political figure. I mean, I think I'm to the left of the Democratic Party. But I think there are elements of what I want that are represented by people in the Democratic Party. I mean, I think having a...

A very jaundiced eye to the overwhelming concentration of wealth and wealth disparity, I think, is a fundamental problem that we have in this country. I think too much of what happens in this country is a function of the concentration of wealth. I mean, that gets back to why I want to return back to the tax regime we had in the 50s and the 60s.

A very jaundiced eye to the overwhelming concentration of wealth and wealth disparity, I think, is a fundamental problem that we have in this country. I think too much of what happens in this country is a function of the concentration of wealth. I mean, that gets back to why I want to return back to the tax regime we had in the 50s and the 60s.

where the top marginal rate was 90% for every dollar above in what today's money would be about $4 million. And just to explain this, because I've seen so many people on the right not understand marginal tax rates that it's almost disturbing. The first... million dollars that you earn is taxed at 32% or whatever the prevailing rate is. The second $2 million you earn, 32%.

where the top marginal rate was 90% for every dollar above in what today's money would be about $4 million. And just to explain this, because I've seen so many people on the right not understand marginal tax rates that it's almost disturbing. The first... million dollars that you earn is taxed at 32% or whatever the prevailing rate is. The second $2 million you earn, 32%.

The third, 32%, because I think that's the highest. Maybe it's 37% is the highest. Once you get over $4 million, every extra dollar after that is taxed at a 90% rate.

The third, 32%, because I think that's the highest. Maybe it's 37% is the highest. Once you get over $4 million, every extra dollar after that is taxed at a 90% rate.

That is what we had in this country for several decades in the post-World War.

That is what we had in this country for several decades in the post-World War.

Why do you think that's good? I'll tell you. Because it flattens wealth disparity.

Why do you think that's good? I'll tell you. Because it flattens wealth disparity.

And that is when you have the greatest expansion of the economy. Right. When... the wealth of the country is shared by as many people as possible. Obviously, it's not everybody gets the same amount, but... Do you think that's a popular idea?

And that is when you have the greatest expansion of the economy. Right. When... the wealth of the country is shared by as many people as possible. Obviously, it's not everybody gets the same amount, but... Do you think that's a popular idea?

I think if I was to show Americans... You've been showing for 20 years now. No, no, no. Put up a graph of income disparity.

I think if I was to show Americans... You've been showing for 20 years now. No, no, no. Put up a graph of income disparity.

You put up a graph of income disparity. Americans are shocked when they realize how much money is held by the top 1% in this country. Really, the top 0.1% relative to the rest. I mean, like literally a handful of families.

You put up a graph of income disparity. Americans are shocked when they realize how much money is held by the top 1% in this country. Really, the top 0.1% relative to the rest. I mean, like literally a handful of families.

have more money and more wealth in this country than 50% of the population.

have more money and more wealth in this country than 50% of the population.

You show that to 80% of Americans and there's no questions. You're going to be like, what the fuck?

You show that to 80% of Americans and there's no questions. You're going to be like, what the fuck?

But let me just finish the point.

But let me just finish the point.

That's not the premise of why I want to do that taxation. I mean, the government will redistribute the money.

That's not the premise of why I want to do that taxation. I mean, the government will redistribute the money.

I listen. The fact of the matter is government always redistributes money. It always redistributes money. Every government at every moment is redistributing money. The question is, which direction is that money flowing? That's it. There is no doubt. Governments redistribute money at every moment. The question is which direction. How successful are they at it?

I listen. The fact of the matter is government always redistributes money. It always redistributes money. Every government at every moment is redistributing money. The question is, which direction is that money flowing? That's it. There is no doubt. Governments redistribute money at every moment. The question is which direction. How successful are they at it?

Oh, there's no, listen, there's no doubt in my mind. Like, look, we have a massive, massive military budget. And if you want to look for waste and fraud in government, that is where you go. That's where all the money is. Everybody knows it. There's an enormous amount of waste and fraud. They can't even get through an audit. How many audits has it been? Half a dozen? Social Security.

Oh, there's no, listen, there's no doubt in my mind. Like, look, we have a massive, massive military budget. And if you want to look for waste and fraud in government, that is where you go. That's where all the money is. Everybody knows it. There's an enormous amount of waste and fraud. They can't even get through an audit. How many audits has it been? Half a dozen? Social Security.

And they can't pass a single audit. Social Security is audited all the time. Do you know how much money? Let's talk about this for a second. I watched the video of you guys on the plane down of when Elon Musk was in Wisconsin blowing up his whole brand, essentially. And he was on stage with a guy named Garcia. You guys remember this video?

And they can't pass a single audit. Social Security is audited all the time. Do you know how much money? Let's talk about this for a second. I watched the video of you guys on the plane down of when Elon Musk was in Wisconsin blowing up his whole brand, essentially. And he was on stage with a guy named Garcia. You guys remember this video?

Yeah.

Yeah.

And the amount of misinformation from every single person, all of you, was astonishing to me.

And the amount of misinformation from every single person, all of you, was astonishing to me.

I mean, I almost feel like we should go through the whole video. This is coming from a socialist. No, no, no. The level of credibility of a socialist is a system that has never worked. But I want to hear it. That is anti-oligarchs. But I want to hear it. I want to hear it. I want to hear it. Go for it. First off, you seem to not understand.

I mean, I almost feel like we should go through the whole video. This is coming from a socialist. No, no, no. The level of credibility of a socialist is a system that has never worked. But I want to hear it. That is anti-oligarchs. But I want to hear it. I want to hear it. I want to hear it. Go for it. First off, you seem to not understand.

that these were not undocumented immigrants who were getting these Social Security numbers. They are non-citizens. Now, when you came to this country, you were an immigrant. Your parents came legally. Every single one of those people who got those Social Security numbers are here legally. They're not citizens, just like you weren't when you first came to this country. You get a green card.

that these were not undocumented immigrants who were getting these Social Security numbers. They are non-citizens. Now, when you came to this country, you were an immigrant. Your parents came legally. Every single one of those people who got those Social Security numbers are here legally. They're not citizens, just like you weren't when you first came to this country. You get a green card.

Your parents get a green card. They go through a process. All of those people... And understand, they got their Social Security card. I really want to see your point. Well, the point is you referred to them as undocumented and illegal. You did. I said non-citizen. Excuse me.

Your parents get a green card. They go through a process. All of those people... And understand, they got their Social Security card. I really want to see your point. Well, the point is you referred to them as undocumented and illegal. You did. I said non-citizen. Excuse me.

Correct yourself. I can't remember which one of you got it wrong. I think you did.

Correct yourself. I can't remember which one of you got it wrong. I think you did.

We can play the video and go through it.

We can play the video and go through it.

Well, the point is they're not illegal. They're not undocumented. They're all legal. Right. The expansion from that program, the EBE program, which is Enumeration Beyond Entry, was started under the Trump administration. The numbers have gone up because, yes... Under Biden, as opposed to Trump, there was an expansion of people who we hear, like, you know, probably, I'm not sure.

Well, the point is they're not illegal. They're not undocumented. They're all legal. Right. The expansion from that program, the EBE program, which is Enumeration Beyond Entry, was started under the Trump administration. The numbers have gone up because, yes... Under Biden, as opposed to Trump, there was an expansion of people who we hear, like, you know, probably, I'm not sure.

No, no, excuse me. Ten plus million. Not a single one of them.

No, no, excuse me. Ten plus million. Not a single one of them.

Hold on, you're changing the subject now. No, no, I'm not changing the subject. I'm talking about that video.

Hold on, you're changing the subject now. No, no, I'm not changing the subject. I'm talking about that video.

And every one of those Social Security numbers that was handed out. Let me finish now. So how do you feel about the illegal immigrants that came those four years? I will get to illegal immigrants. You don't care about those people. I will get to the undocumented.

And every one of those Social Security numbers that was handed out. Let me finish now. So how do you feel about the illegal immigrants that came those four years? I will get to illegal immigrants. You don't care about those people. I will get to the undocumented.

But you don't want to talk about this. And I don't blame you because it's embarrassing. But let me do a quick timeout here. Every one of those Social Security numbers.

But you don't want to talk about this. And I don't blame you because it's embarrassing. But let me do a quick timeout here. Every one of those Social Security numbers.

I don't think that's the case.

I don't think that's the case.

I don't think that's the case.

I don't think that's the case.

Elon Musk made that Wisconsin election of a referendum on Doge. To the extent that we've seen anybody vote on Doge, nobody heard the word Doge before November of last year. To the extent that we've seen a referendum on Doge, it just happened in Wisconsin. It happened in Florida where the size of the win by those Republican congressmen was cut by 17, 20 points. I mean, this is a wipeout.

Elon Musk made that Wisconsin election of a referendum on Doge. To the extent that we've seen anybody vote on Doge, nobody heard the word Doge before November of last year. To the extent that we've seen a referendum on Doge, it just happened in Wisconsin. It happened in Florida where the size of the win by those Republican congressmen was cut by 17, 20 points. I mean, this is a wipeout.

And you're going to see a difference in Republican lawmakers over the next year and a half because anybody who was in a plus-Trump eight district or less is now starting to go like, wait a second. That's why Musk is, is being shown the door supposedly.

And you're going to see a difference in Republican lawmakers over the next year and a half because anybody who was in a plus-Trump eight district or less is now starting to go like, wait a second. That's why Musk is, is being shown the door supposedly.

So getting back to my point about those social security numbers, they were given all to legal, uh, non citizens and every one of those cards, you can't vote. Cause I think you definitely said, and I think maybe you said that this is a democratic strategy to get voters. Hold on for a second. Uh, The Social Security card that they get literally says not legitimate for voting purposes.

So getting back to my point about those social security numbers, they were given all to legal, uh, non citizens and every one of those cards, you can't vote. Cause I think you definitely said, and I think maybe you said that this is a democratic strategy to get voters. Hold on for a second. Uh, The Social Security card that they get literally says not legitimate for voting purposes.

It is so that these non-citizens who are legal, just like when you came in, pay into the Social Security system and many of them never get that money back. So in addition to the undocumented immigrants who pay in $22 billion a year, into Social Security and get zero back, these people pay several billion dollars in a year.

It is so that these non-citizens who are legal, just like when you came in, pay into the Social Security system and many of them never get that money back. So in addition to the undocumented immigrants who pay in $22 billion a year, into Social Security and get zero back, these people pay several billion dollars in a year.

And only if they become citizens, which most of them won't, most of them will go back home over a period of time. They're here for temporary protected status. Maybe some of them are refugees and they get permanent citizenship. They won't get that money either. So every single thing of that video, this video here, was completely wrong that you guys did.

And only if they become citizens, which most of them won't, most of them will go back home over a period of time. They're here for temporary protected status. Maybe some of them are refugees and they get permanent citizenship. They won't get that money either. So every single thing of that video, this video here, was completely wrong that you guys did.

It was fascinating to me because I feel like you, at the very least, I believe that you care about the information you're putting out. And this was all wrong.

It was fascinating to me because I feel like you, at the very least, I believe that you care about the information you're putting out. And this was all wrong.

First of all, the border was not open.

First of all, the border was not open.

AOC and Bernie Sanders don't take money from those people. Hold on, ready for this?

AOC and Bernie Sanders don't take money from those people. Hold on, ready for this?

Let me just show the data, and then I want you to say what you want to say.

Let me just show the data, and then I want you to say what you want to say.

Okay, well, go back up. Go back up to the— And then go to the last one, Rob.

Okay, well, go back up. Go back up to the— And then go to the last one, Rob.

Go to the top one here. I mean, this is the numbers you were talking about. I'll go through all of these charts.

Go to the top one here. I mean, this is the numbers you were talking about. I'll go through all of these charts.

Go for it. Yeah, go ahead. Yeah, you can see that this is—what constitutes illegal immigration? These are—if it was an open border, you would not have these numbers, right? Thank you. Thank you.

Go for it. Yeah, go ahead. Yeah, you can see that this is—what constitutes illegal immigration? These are—if it was an open border, you would not have these numbers, right? Thank you. Thank you.

Thank you.

Thank you.

Thank you. Thank you. Thank you.

Thank you. Thank you. Thank you.

Thank you.

Thank you.

Thank you.

Thank you.

Thank you.

Thank you.

Thank you. Thank you. Thank you.

Thank you. Thank you. Thank you.

Name a policy that I support that doesn't work.

Name a policy that I support that doesn't work.

Like I say, when we had those in this country, everybody can look this up, we had what was known as the Great Compression. It was the greatest expansion of our economy and the lowest wealth disparity we had in the history of this country. I don't know how you would define it anything other than a success.

Like I say, when we had those in this country, everybody can look this up, we had what was known as the Great Compression. It was the greatest expansion of our economy and the lowest wealth disparity we had in the history of this country. I don't know how you would define it anything other than a success.

10% of every dollar after $4 million.

10% of every dollar after $4 million.

We're going to hire another person. Oh, so you're going to expand. Well, I don't know if we're going to expand, but I'm going to probably... I mean... You're going to invest. Well, I may invest in some of it.

We're going to hire another person. Oh, so you're going to expand. Well, I don't know if we're going to expand, but I'm going to probably... I mean... You're going to invest. Well, I may invest in some of it.

Correct.

Correct.

This is the company. These are pre-tax dollars. When I say 90 cents on every dollar, I'm talking individual tax. So this is not about corporate tax. It wouldn't impact anything you're saying about the business. But go ahead. But we're talking about taxes in general. No, no, no. There's a difference between personal taxes and corporate taxes.

This is the company. These are pre-tax dollars. When I say 90 cents on every dollar, I'm talking individual tax. So this is not about corporate tax. It wouldn't impact anything you're saying about the business. But go ahead. But we're talking about taxes in general. No, no, no. There's a difference between personal taxes and corporate taxes.

No, no, no. I'm not taxing my way to making everybody wealthy. I am taxing... Understand, the 90% tax rate on every dollar after $4 million... is to deal with wealth disparity in this country. Because I believe the more you concentrate wealth, the more you concentrate political power. Why 4 million? And I believe in democracy. Why 4 million?

No, no, no. I'm not taxing my way to making everybody wealthy. I am taxing... Understand, the 90% tax rate on every dollar after $4 million... is to deal with wealth disparity in this country. Because I believe the more you concentrate wealth, the more you concentrate political power. Why 4 million? And I believe in democracy. Why 4 million?

Just because that's what we had for 15, 20 years in this country. I mean, it was $470,000 in 1940. Why not do it at like $300,000? No, no, no.

Just because that's what we had for 15, 20 years in this country. I mean, it was $470,000 in 1940. Why not do it at like $300,000? No, no, no.

I know the story of GE sending him around to fight against Medicare.

I know the story of GE sending him around to fight against Medicare.

He shouldn't.

He shouldn't.

I don't know what to tell you. Talk numbers. If you don't want to make a movie, don't make it.

I don't know what to tell you. Talk numbers. If you don't want to make a movie, don't make it.

Why will they invest? You just had a great incentive. You killed it. You made tens of thousands of dollars. I'm going to take your metaphor. Do something with that money. So what happens when Ronald Reagan gets to that threshold of the wealthiest of the wealthy in the country? Because that's what it takes, right? To be making $4 million a year. No, no, no.

Why will they invest? You just had a great incentive. You killed it. You made tens of thousands of dollars. I'm going to take your metaphor. Do something with that money. So what happens when Ronald Reagan gets to that threshold of the wealthiest of the wealthy in the country? Because that's what it takes, right? To be making $4 million a year. No, no, no.

That's what the correlation is. Yes, yes, yes.

That's what the correlation is. Yes, yes, yes.

Less, it's less. 0.5%. Yeah, top 1% is about $600,000, $500,000. So you're in the top 0.5% of the country.

Less, it's less. 0.5%. Yeah, top 1% is about $600,000, $500,000. So you're in the top 0.5% of the country.

Top 0.5%. What happens when Ronald Reagan decides, I'm only going to make two movies a year is... You get an opportunity to be that actor. And then somebody else gets the opportunity to make that money.

Top 0.5%. What happens when Ronald Reagan decides, I'm only going to make two movies a year is... You get an opportunity to be that actor. And then somebody else gets the opportunity to make that money.

No, it's not. Believe me, I've been out in L.A. The best actors don't necessarily get every role. And so it gives an opportunity to...

No, it's not. Believe me, I've been out in L.A. The best actors don't necessarily get every role. And so it gives an opportunity to...

Are you telling me that there aren't enough hardworking actors who get to... No, no, no. Stop changing it. That's your shtick. That's what you're shtick, dude. No, it's not. I'm asking you a question here because it's about greed and jealousy, isn't it?

Are you telling me that there aren't enough hardworking actors who get to... No, no, no. Stop changing it. That's your shtick. That's what you're shtick, dude. No, it's not. I'm asking you a question here because it's about greed and jealousy, isn't it?

I think it's pretty obvious to everybody how jealous I am of all of you. No, it's not. Your point about incentives, that is why Ronald Reagan brought in Arthur Laffer. The Laffer Curve, yes, of course. Explain it. Laffer Curve says that the higher you go up on taxes, the least incentive there is for people to make money.

I think it's pretty obvious to everybody how jealous I am of all of you. No, it's not. Your point about incentives, that is why Ronald Reagan brought in Arthur Laffer. The Laffer Curve, yes, of course. Explain it. Laffer Curve says that the higher you go up on taxes, the least incentive there is for people to make money.

Exactly. Go on. But the lower you have taxes, you can actually lower taxes and you'll get more revenue because these people are going to actually be more incentivized because they get to keep more. Arthur Laffer was the key advisor to Sam Brownback when he became governor of Kansas in 2012.

Exactly. Go on. But the lower you have taxes, you can actually lower taxes and you'll get more revenue because these people are going to actually be more incentivized because they get to keep more. Arthur Laffer was the key advisor to Sam Brownback when he became governor of Kansas in 2012.

you can look this up people just have to google sam brownback kansas twenty twelve what happened with the great kansas experiment he did exactly what author laffer said he'd slash taxes slash taxes for escorts et cetera

you can look this up people just have to google sam brownback kansas twenty twelve what happened with the great kansas experiment he did exactly what author laffer said he'd slash taxes slash taxes for escorts et cetera

within i think it was two or three years the republican legislature rose taxes because revenues had cratered so badly and they had so destroyed what was once the jewel of kansas their education system their higher education system they rose taxes uh... Well, there you go. I mean, there it is.

within i think it was two or three years the republican legislature rose taxes because revenues had cratered so badly and they had so destroyed what was once the jewel of kansas their education system their higher education system they rose taxes uh... Well, there you go. I mean, there it is.

Kansas provides compelling evidence of the failure of supply-side tax cuts, which is exactly what you're adding.

Kansas provides compelling evidence of the failure of supply-side tax cuts, which is exactly what you're adding.

Florida.

Florida.

You think it's because of high taxes? I think there are definitely people who like to evade taxes, sure.

You think it's because of high taxes? I think there are definitely people who like to evade taxes, sure.

I'm literally just advocating for higher taxes on super wealthy people.

I'm literally just advocating for higher taxes on super wealthy people.

I think we stream on Rumble.

I think we stream on Rumble.

We do run it through Vimeo.

We do run it through Vimeo.

That's where the most people are.

That's where the most people are.

Well, that's, yeah. I mean, that's where we have the most audience.

Well, that's, yeah. I mean, that's where we have the most audience.

I'm a sponsorship evader. What is it?

I'm a sponsorship evader. What is it?

I think there's a lot of people who leave high-tax states for low-tax states.

I think there's a lot of people who leave high-tax states for low-tax states.

If they're going for tax reasons, then they're trying to pay less tax. There's also a lot of people that go to lower...

If they're going for tax reasons, then they're trying to pay less tax. There's also a lot of people that go to lower...

I just conceded. In anything. I should have said tax avoider. I'm just saying in anything.

I just conceded. In anything. I should have said tax avoider. I'm just saying in anything.

Tax avoider.

Tax avoider.

And I created an escort. You know what fascinates me about this? Is that like. I'm talking about policies that impact the country. I'm talking about the implications of taxation on the top 0.5%, top 1% of this country. And it is boiled down to you guys saying that I'm a bad person.

And I created an escort. You know what fascinates me about this? Is that like. I'm talking about policies that impact the country. I'm talking about the implications of taxation on the top 0.5%, top 1% of this country. And it is boiled down to you guys saying that I'm a bad person.

I actually think you're a great person with bad ideas. I don't care about any of you as individuals. Same boat as us. I don't care about me. Exactly. I don't disrespect you, though. I'm talking about policies. And when we get into policy, I notice how this all pivots.

I actually think you're a great person with bad ideas. I don't care about any of you as individuals. Same boat as us. I don't care about me. Exactly. I don't disrespect you, though. I'm talking about policies. And when we get into policy, I notice how this all pivots.

And I don't blame you because, frankly, if you tell the American public, and maybe not this audience because this audience is built on your business, around your business doings and whatnot. Yeah. But if you tell the American public that they're getting fleeced and they are losing political power to money, they react like they did in Wisconsin. They basically reject it.

And I don't blame you because, frankly, if you tell the American public, and maybe not this audience because this audience is built on your business, around your business doings and whatnot. Yeah. But if you tell the American public that they're getting fleeced and they are losing political power to money, they react like they did in Wisconsin. They basically reject it.

And so that is what happened on November 5th. Those people didn't come out. They came out to vote for Donald Trump because Donald Trump is a character that they like.

And so that is what happened on November 5th. Those people didn't come out. They came out to vote for Donald Trump because Donald Trump is a character that they like.

Why didn't they come out? Because they because Donald Trump was very close to their experience. And I think I have a feeling in 2024, they'd also vote him out if he tries to run again.

Why didn't they come out? Because they because Donald Trump was very close to their experience. And I think I have a feeling in 2024, they'd also vote him out if he tries to run again.

Biden was a complete placeholder for not Donald Trump.

Biden was a complete placeholder for not Donald Trump.

I think it was what Biden did in staying in was atrocious. He should have gotten out way earlier. There's a story coming out now of like Ron Klain coming, seeing him before the debate and realizing the guy was a mess. And I think Harris's campaign was also poorly run. I think, you know, nobody could tell what her policies were. Mark Cuban's going out there saying, you know, I agree.

I think it was what Biden did in staying in was atrocious. He should have gotten out way earlier. There's a story coming out now of like Ron Klain coming, seeing him before the debate and realizing the guy was a mess. And I think Harris's campaign was also poorly run. I think, you know, nobody could tell what her policies were. Mark Cuban's going out there saying, you know, I agree.

Mark Cuban's coming out there saying like, oh, don't worry. She's not going to do any more of this antitrust stuff on one hand. I don't want a billionaire coming out and speaking for my candidate.

Mark Cuban's coming out there saying like, oh, don't worry. She's not going to do any more of this antitrust stuff on one hand. I don't want a billionaire coming out and speaking for my candidate.

No, I voted for her.

No, I voted for her.

Hold on. Hold on. Hold on.

Hold on. Hold on. Hold on.

I voted for the lesser of two evils.

I voted for the lesser of two evils.

I would rather have you sit that one out, Sam. Go ahead. I'll tell you.

I would rather have you sit that one out, Sam. Go ahead. I'll tell you.

She was not going to cut Social Security functioning. She's not going to cut the USDA. She's not going to cut the FDA. She's not going to lose us $500 billion worth of return on investment with the IRS. She's not going to cut the Bureau of Labor Statistics. She's not going to cut $300 billion.

She was not going to cut Social Security functioning. She's not going to cut the USDA. She's not going to cut the FDA. She's not going to lose us $500 billion worth of return on investment with the IRS. She's not going to cut the Bureau of Labor Statistics. She's not going to cut $300 billion.

Return on investment. Every dollar that you give to the IRS, we get six or seven back. She's not going to cut the museum and library.

Return on investment. Every dollar that you give to the IRS, we get six or seven back. She's not going to cut the museum and library.

Google it. Every dollar spent at the IRS gets six back in returns. Oh, my goodness. We're very anticipating the cuts from Doge. The cuts from Doge are going to cost our government $500 billion.

Google it. Every dollar spent at the IRS gets six back in returns. Oh, my goodness. We're very anticipating the cuts from Doge. The cuts from Doge are going to cost our government $500 billion.

All right.

All right.

You can spend time attacking the people who do these calculations.

You can spend time attacking the people who do these calculations.

Just rando tariffs applied in a willy-nilly fashion that crashed the economy.

Just rando tariffs applied in a willy-nilly fashion that crashed the economy.

He threatened them and they – Fentanyl comes across the border at ports of entry. If fentanyl comes across the border, not in illegals crossing the desert, it comes in... Oh, really? Coyotes? Oh, really? It comes in at ports of entry. Google that.

He threatened them and they – Fentanyl comes across the border at ports of entry. If fentanyl comes across the border, not in illegals crossing the desert, it comes in... Oh, really? Coyotes? Oh, really? It comes in at ports of entry. Google that.

What fraud has he found?

What fraud has he found?

What fraud? Yeah. Where's the person who is going to be indicted for fraud? Well, what about the waste?

What fraud? Yeah. Where's the person who is going to be indicted for fraud? Well, what about the waste?

What waste? They just cut the agency that provides $295 million to museums and libraries. You appreciate libraries, don't you? I know how much reading is important to you and your kids.

What waste? They just cut the agency that provides $295 million to museums and libraries. You appreciate libraries, don't you? I know how much reading is important to you and your kids.

The money you're talking about.

The money you're talking about.

do you want money going to a fraction of a percentage and if we wanted to get rid of that money there is a way of doing it and that is to have congress vote and reverse what they uh authorized in the first place but to have a billionaire come in and decide based upon what his personal preferences are that he's going to cut government in this way i'm sorry that's not democracy it's not even remotely close he doesn't have the power to do anything he makes a suggestion why do you

do you want money going to a fraction of a percentage and if we wanted to get rid of that money there is a way of doing it and that is to have congress vote and reverse what they uh authorized in the first place but to have a billionaire come in and decide based upon what his personal preferences are that he's going to cut government in this way i'm sorry that's not democracy it's not even remotely close he doesn't have the power to do anything he makes a suggestion why do you

I don't think Americans heard the word doge outside of it being some type of crypto currency.

I don't think Americans heard the word doge outside of it being some type of crypto currency.

Well, I think because they want change.

Well, I think because they want change.

I think inflation was a big part of it for them.

I think inflation was a big part of it for them.

I think for a 90% of his voters voted for Mitt Romney. I think the Republican Party wants to have tax cuts.

I think for a 90% of his voters voted for Mitt Romney. I think the Republican Party wants to have tax cuts.

Can we stay in 2024?

Can we stay in 2024?

Inflation can happen a couple of different ways. Inflation can happen because you have too much monetary supply. Inflation can happen in terms of both from a monetary supply level or a fiscal stimulus. And inflation can also happen if you have a once-in-a-lifetime pandemic that completely screws up all of your logistics.

Inflation can happen a couple of different ways. Inflation can happen because you have too much monetary supply. Inflation can happen in terms of both from a monetary supply level or a fiscal stimulus. And inflation can also happen if you have a once-in-a-lifetime pandemic that completely screws up all of your logistics.

And so you've got shipping containers that usually cost $4,000 to ship, but now they cost $22,000 to get because they're in far-flung places because the pandemic screwed up.

And so you've got shipping containers that usually cost $4,000 to ship, but now they cost $22,000 to get because they're in far-flung places because the pandemic screwed up.

Well, it reverberates through the thing. We saw inflation dropping through 2024. Sure. We saw – I mean, we saw rate cuts on the table because we saw inflation drop.

Well, it reverberates through the thing. We saw inflation dropping through 2024. Sure. We saw – I mean, we saw rate cuts on the table because we saw inflation drop.

Well, I think in large part, we have structural problems in this country. And that's why we keep getting change elections where we keep going back and forth, back and forth. And I would say those structural problems range from, I think a lot of them have to do with wealth inequality.

Well, I think in large part, we have structural problems in this country. And that's why we keep getting change elections where we keep going back and forth, back and forth. And I would say those structural problems range from, I think a lot of them have to do with wealth inequality.

I think Democrats are marginally better.

I think Democrats are marginally better.

Well, taxation helps. That's a big part. Strengthening labor. I think, you know, during Biden, a lot of problems with Biden.

Well, taxation helps. That's a big part. Strengthening labor. I think, you know, during Biden, a lot of problems with Biden.

So labor, I mean, strengthening labor strength in the marketplace helps with wealth inequality. I think antitrust goes a long way to wealth inequality because it literally is to break up the concentration of wealth.

So labor, I mean, strengthening labor strength in the marketplace helps with wealth inequality. I think antitrust goes a long way to wealth inequality because it literally is to break up the concentration of wealth.

Well, I mean, if you go back and look in the and I don't necessarily agree with Biden doing this, but if you go back and look at the numbers starting in the summer of 2024, maybe a little bit. Stop it. I'm sorry. Just put it up there. Listen, I'm not in favor of him doing this, but he did do it. Wait, put up the graph. So you mean in an election year, he tried to slow down the order?

Well, I mean, if you go back and look in the and I don't necessarily agree with Biden doing this, but if you go back and look at the numbers starting in the summer of 2024, maybe a little bit. Stop it. I'm sorry. Just put it up there. Listen, I'm not in favor of him doing this, but he did do it. Wait, put up the graph. So you mean in an election year, he tried to slow down the order?

I'm not in favor of it, but he did it.

I'm not in favor of it, but he did it.

See if you can get a graph of that.

See if you can get a graph of that.

Let's see the one over the past. You said he dropped it dramatically in January, and I'm suggesting to you if you look at the past 12 months.

Let's see the one over the past. You said he dropped it dramatically in January, and I'm suggesting to you if you look at the past 12 months.

What's the number of undocumented immigrants you think we have in this country right now?

What's the number of undocumented immigrants you think we have in this country right now?

That are in the country now or actually just crossed?

That are in the country now or actually just crossed?

Oh, I would imagine it's probably close to like five, six, maybe to 10 million.

Oh, I would imagine it's probably close to like five, six, maybe to 10 million.

No. The vast majority of them, I would say, are not.

No. The vast majority of them, I would say, are not.

Oh, I think they're going to get exploited, without a doubt, if that's where you're going with this.

Oh, I think they're going to get exploited, without a doubt, if that's where you're going with this.

They benefit, yes. Oh, so let me get this straight. Meat processing plants and whatnot. Oh, that's why I want them to have documents.

They benefit, yes. Oh, so let me get this straight. Meat processing plants and whatnot. Oh, that's why I want them to have documents.

Give them documents so that they can get worker protections.

Give them documents so that they can get worker protections.

I am in favor of a path to citizenship that is much easier.

I am in favor of a path to citizenship that is much easier.

And that was in that bill that they suggested in the fall of 2023 that Trump said he didn't want because he wanted to keep it as an issue.

And that was in that bill that they suggested in the fall of 2023 that Trump said he didn't want because he wanted to keep it as an issue.

I don't know that they take jobs away from that many. Oh, really? In 20 years ago, we were told that the lowest unemployment that it was possible to have with a functioning economy was what? You remember? It was something like 6% to 8%. And now our unemployment is at 4%. And it was lower than that before. You're not answering the question, though.

I don't know that they take jobs away from that many. Oh, really? In 20 years ago, we were told that the lowest unemployment that it was possible to have with a functioning economy was what? You remember? It was something like 6% to 8%. And now our unemployment is at 4%. And it was lower than that before. You're not answering the question, though.

I have answered it. I think largely they don't take jobs away from people. Oh, they don't. Of course they do. Hang on.

I have answered it. I think largely they don't take jobs away from people. Oh, they don't. Of course they do. Hang on.

All that manufacturing went to China.

All that manufacturing went to China.

That was the movement of capital. Capital decided that it was cheaper for them to move to China.

That was the movement of capital. Capital decided that it was cheaper for them to move to China.

Well, I should start by saying... I always thought that Trump would be the nominee. Two years ago, I was wondering why Ron DeSantis was lighting his career on fire by trying to run against Donald Trump, to be honest with you. I think Trump and the Republican Party, I think they're one in the same. And so that doesn't surprise me.

Well, I should start by saying... I always thought that Trump would be the nominee. Two years ago, I was wondering why Ron DeSantis was lighting his career on fire by trying to run against Donald Trump, to be honest with you. I think Trump and the Republican Party, I think they're one in the same. And so that doesn't surprise me.

Is that what he's saying there?

Is that what he's saying there?

No, I don't follow what he's saying.

No, I don't follow what he's saying.

Do you guys identify as MAGA?

Do you guys identify as MAGA?

Do any of you guys identify as Maga?

Do any of you guys identify as Maga?

I'm Maga. I just want to make America great. He seems to take it as an insult.

I'm Maga. I just want to make America great. He seems to take it as an insult.

It's a pleasure to be here. I just want to say that some of my best friends are rich people.

It's a pleasure to be here. I just want to say that some of my best friends are rich people.

What do you think about these tariffs?

What do you think about these tariffs?

That there's some guy I've never heard of? I've never heard of Stephen A. Smith? No, the guy who wrote something about him.

That there's some guy I've never heard of? I've never heard of Stephen A. Smith? No, the guy who wrote something about him.

He's a centrist. I don't have to subscribe to what a centrist perspective. I mean, he's a centrist like Gavin Newsom is a centrist. Gavin Newsom is a centrist? Gavin Newsom is saying the exact same thing as Stephen A. Smith. Because he has to. Because he realizes progressive policies have been a disaster.

He's a centrist. I don't have to subscribe to what a centrist perspective. I mean, he's a centrist like Gavin Newsom is a centrist. Gavin Newsom is a centrist? Gavin Newsom is saying the exact same thing as Stephen A. Smith. Because he has to. Because he realizes progressive policies have been a disaster.

Maybe it's because... He's a centrist as of a week ago when he realized progressiveness is horrible.

Maybe it's because... He's a centrist as of a week ago when he realized progressiveness is horrible.

Maybe it's like a... You don't understand. You guys don't seem to understand. Welcome to Bizarro World. I have a set of politics. I don't care what Stephen A. Smith does. I don't care what Gavin Newsom does.

Maybe it's like a... You don't understand. You guys don't seem to understand. Welcome to Bizarro World. I have a set of politics. I don't care what Stephen A. Smith does. I don't care what Gavin Newsom does.

I don't I don't care. So you're rigid. You're not changing anything. It's not a question of I'm rigid and I'm not changing anything. Like I there are specifics like, you know, over time, I have had a different perspective on the deficit over the past 20 years and understood it.

I don't I don't care. So you're rigid. You're not changing anything. It's not a question of I'm rigid and I'm not changing anything. Like I there are specifics like, you know, over time, I have had a different perspective on the deficit over the past 20 years and understood it.

You've got to be more malleable, buddy. I mean, to the extent, like, I don't, you know, like, you guys have these, like, labels that you like to use, and there's some type of gradation.

You've got to be more malleable, buddy. I mean, to the extent, like, I don't, you know, like, you guys have these, like, labels that you like to use, and there's some type of gradation.

I've always been about where I am in terms of taxation, but I am for a little bit more decommodification probably than I was 20 years ago.

I've always been about where I am in terms of taxation, but I am for a little bit more decommodification probably than I was 20 years ago.

Those numbers are some of the most encouraging numbers I've seen in the 20-some-odd years I've been doing this. Because I want to see... It communicated to Democratic leadership that we want you to fight. And I've been riding Chuck Schumer for, you know, 10 years trying to get him. I mean, Harry Reid was a great, I think, as far as they go, leader of the Senate for Democrats.

Those numbers are some of the most encouraging numbers I've seen in the 20-some-odd years I've been doing this. Because I want to see... It communicated to Democratic leadership that we want you to fight. And I've been riding Chuck Schumer for, you know, 10 years trying to get him. I mean, Harry Reid was a great, I think, as far as they go, leader of the Senate for Democrats.

Thank you.

Thank you.

Thank you. Thank you. Thank you.

Thank you. Thank you. Thank you.

But it is I think it's time for new leadership in the Democratic Party. We need a and this is not even ideological from my perspective. I think there are Democrats that I agree with and Democrats that I disagree with on an ideological standpoint. But I think a different generation of Democrats understand that the Republican Party is in transit. There is no negotiating with them.

But it is I think it's time for new leadership in the Democratic Party. We need a and this is not even ideological from my perspective. I think there are Democrats that I agree with and Democrats that I disagree with on an ideological standpoint. But I think a different generation of Democrats understand that the Republican Party is in transit. There is no negotiating with them.

Thank you.

Thank you.

Trust me, I believe you.

Trust me, I believe you.

I think the biggest thing that Joe Biden, the biggest mistake that Joe Biden made was following the American Rescue Act, which was a massive boon to the American public. We cut child poverty by 45 percent in a year. I just want to repeat that. We cut child poverty by 45% in a year because of that act when Biden first got in.

I think the biggest thing that Joe Biden, the biggest mistake that Joe Biden made was following the American Rescue Act, which was a massive boon to the American public. We cut child poverty by 45 percent in a year. I just want to repeat that. We cut child poverty by 45% in a year because of that act when Biden first got in.

But if tariffs are meant to work to build up industry, that means people aren't paying those taxes. So the tariffs may not raise the money, but what will happen is, and I think you understand this too about pricing, if the price of goods goes up on average, and it looks like in some of these places it's going to go way above 10%. I mean, some of like, you know, Vietnam, like 39%, China, 75%.

But if tariffs are meant to work to build up industry, that means people aren't paying those taxes. So the tariffs may not raise the money, but what will happen is, and I think you understand this too about pricing, if the price of goods goes up on average, and it looks like in some of these places it's going to go way above 10%. I mean, some of like, you know, Vietnam, like 39%, China, 75%.

They're adding all of these tariffs on. It's insane. Right. Then U.S. companies, to the extent that there are ones that are making these same goods, they have between zero and 75 percent to raise their prices.

They're adding all of these tariffs on. It's insane. Right. Then U.S. companies, to the extent that there are ones that are making these same goods, they have between zero and 75 percent to raise their prices.

And they will because, you know, like the price of this, there's a certain elasticity and they can justify raising their prices 5 percent if their nearest competitor is, you know, 25 percent raise in price. I mean, they'll do it because, you know, there's some products that people just can't do without. So this is such a disaster.

And they will because, you know, like the price of this, there's a certain elasticity and they can justify raising their prices 5 percent if their nearest competitor is, you know, 25 percent raise in price. I mean, they'll do it because, you know, there's some products that people just can't do without. So this is such a disaster.

And of course, it also what it also does is last time we had a major financial crisis in this country in 2008, it took six years for the stock market to get back at parity. You're talking about the 401ks have been a disaster insofar as people just don't put as much money in them as they should because they don't have the money on a regular basis.

And of course, it also what it also does is last time we had a major financial crisis in this country in 2008, it took six years for the stock market to get back at parity. You're talking about the 401ks have been a disaster insofar as people just don't put as much money in them as they should because they don't have the money on a regular basis.

And you know what Republicans were talking about after we passed bills that cut child poverty in a year, that extended unemployment benefits, that provided food stamps, that provided health insurance? Republicans were talking about two books...

And you know what Republicans were talking about after we passed bills that cut child poverty in a year, that extended unemployment benefits, that provided food stamps, that provided health insurance? Republicans were talking about two books...

But God help those people if there wasn't Social Security, a robust Social Security, because if you've got to retire and you're 65 and you were planning on retiring, you have a small 401k, it is screwed. And it may not come back for years. Maybe it'll come back tomorrow.

But God help those people if there wasn't Social Security, a robust Social Security, because if you've got to retire and you're 65 and you were planning on retiring, you have a small 401k, it is screwed. And it may not come back for years. Maybe it'll come back tomorrow.

Here's the other absolute insanity. Those tariffs that he claimed on that chart are not tariffs. Every economist out there has been saying, where did he get these numbers? And they're starting to figure out that they did some weird... There's countries on there that don't even have people in them. It's bizarre. They took like the CIA fact book and just made a list of countries.

Here's the other absolute insanity. Those tariffs that he claimed on that chart are not tariffs. Every economist out there has been saying, where did he get these numbers? And they're starting to figure out that they did some weird... There's countries on there that don't even have people in them. It's bizarre. They took like the CIA fact book and just made a list of countries.

I mean, it's completely for show. Which countries? There's Google it. There's like one or two places where there's no people.

I mean, it's completely for show. Which countries? There's Google it. There's like one or two places where there's no people.

No, no. They released a big release. He'll find it. And these are not actual tariffs that are being applied to us.

No, no. They released a big release. He'll find it. And these are not actual tariffs that are being applied to us.

There is India.

There is India.

Trump just added a tariff on a country with no people. It's just an indication of how slapdash this is. No, dude. These are not tariffs. You're focusing on one Those reciprocal tariffs, those aren't tariffs. Basically, what they've tried to figure out is where they get these numbers from, and they have taken the trade deficit and divided it by what we send there.

Trump just added a tariff on a country with no people. It's just an indication of how slapdash this is. No, dude. These are not tariffs. You're focusing on one Those reciprocal tariffs, those aren't tariffs. Basically, what they've tried to figure out is where they get these numbers from, and they have taken the trade deficit and divided it by what we send there.

And that's the way that they've assumed that that's a tariff. It's basically they're just saying we have these trade deficits. And of course we have trade deficits with certain places because there's some products that we're just never going to make. And there's some places that don't have the buying power that we have. I mean, so this is this is just bizarre.

And that's the way that they've assumed that that's a tariff. It's basically they're just saying we have these trade deficits. And of course we have trade deficits with certain places because there's some products that we're just never going to make. And there's some places that don't have the buying power that we have. I mean, so this is this is just bizarre.

And and even like former Trump trade people were just like, well, maybe it's just an opening salvo for a negotiation. And maybe it is. I mean, you know, like I'm just. fortunate that I'm not planning on retiring soon and my 401k isn't decimated. But this is going to cause inflation, and these prices are not going to come down. I mean, Trump is trying to tell U.S.

And and even like former Trump trade people were just like, well, maybe it's just an opening salvo for a negotiation. And maybe it is. I mean, you know, like I'm just. fortunate that I'm not planning on retiring soon and my 401k isn't decimated. But this is going to cause inflation, and these prices are not going to come down. I mean, Trump is trying to tell U.S.

automakers, don't raise your prices, and if he wants to impose price controls, he would not be the first Republican president to do this. Nixon was the first president and the only president, as far as I know, to do price controls, at least in the modern era. I'm not necessarily against price controls in certain situations, but this is like such an own goal. It's fascinating. Of course.

automakers, don't raise your prices, and if he wants to impose price controls, he would not be the first Republican president to do this. Nixon was the first president and the only president, as far as I know, to do price controls, at least in the modern era. I'm not necessarily against price controls in certain situations, but this is like such an own goal. It's fascinating. Of course.

that the doctor suits publisher decided not to publish and so in my mind the republican party there is completely bankrupt of of ideas and joe biden instead of pushing through bill back better over that summer He opened the door for the Republicans to give a proposal that went nowhere for three months. Then he opened the door for Kyrsten Sinema and Rob Portman to come in and give a proposal.

that the doctor suits publisher decided not to publish and so in my mind the republican party there is completely bankrupt of of ideas and joe biden instead of pushing through bill back better over that summer He opened the door for the Republicans to give a proposal that went nowhere for three months. Then he opened the door for Kyrsten Sinema and Rob Portman to come in and give a proposal.

Okay. I'm for price controls.

Okay. I'm for price controls.

Well, I think we should have applied some in the wake of COVID. Yes, there was a lot of gouging going on. I think everybody knows that. I think it's I mean, there's plenty of data that at least 40 percent of the inflation was a function of gouging in some form or another.

Well, I think we should have applied some in the wake of COVID. Yes, there was a lot of gouging going on. I think everybody knows that. I think it's I mean, there's plenty of data that at least 40 percent of the inflation was a function of gouging in some form or another.

Do unto others as you want to do unto them? Bingo.

Do unto others as you want to do unto them? Bingo.

I mean, in my personal relationships, yes.

I mean, in my personal relationships, yes.

Well, top marginal rate of 90%. Right.

Well, top marginal rate of 90%. Right.

To bring down our deficits?

To bring down our deficits?

Okay.

Okay.

No, they do not. No, you're absolutely 100% wrong on the dairy. No, no, no. Your dairy thing is absolutely wrong. You think this is my dairy thing? Yes, this is not. This is what Trump said in his speech. Yes, Trump lied. There is not a single pint of milk of dairy that goes. Just like you lied about how many countries don't have people. I'm pretty sure India's got a couple people.

No, they do not. No, you're absolutely 100% wrong on the dairy. No, no, no. Your dairy thing is absolutely wrong. You think this is my dairy thing? Yes, this is not. This is what Trump said in his speech. Yes, Trump lied. There is not a single pint of milk of dairy that goes. Just like you lied about how many countries don't have people. I'm pretty sure India's got a couple people.

The dairy goes to Canada. If we sell a certain threshold, tariffs are applied. But we don't reach that threshold ever. There are no... Not a dollar.

The dairy goes to Canada. If we sell a certain threshold, tariffs are applied. But we don't reach that threshold ever. There are no... Not a dollar.

And that ultimately, I think, is when Democratic voters started getting impatient with Biden, because we were thinking five trillion dollar, four trillion dollar. Joe Manchin was saying six trillion dollar bill back better bill. And we never got anything like that. It ended up getting split into the IRA, which was a good bill, but I think insufficient.

And that ultimately, I think, is when Democratic voters started getting impatient with Biden, because we were thinking five trillion dollar, four trillion dollar. Joe Manchin was saying six trillion dollar bill back better bill. And we never got anything like that. It ended up getting split into the IRA, which was a good bill, but I think insufficient.

Part of the reason why we have those trade deficits is because, A, we keep our dollars strong. B, because there are bigger customer bases in this country than in other countries. Our economy is based upon consumption.

Part of the reason why we have those trade deficits is because, A, we keep our dollars strong. B, because there are bigger customer bases in this country than in other countries. Our economy is based upon consumption.

I think, again, I think tariffs work if there is a specific industry. We saw this in the CHIPS Act, right? There were carrots and there were sticks in the CHIPS Act. We want to onshore chip production in this country, both for like, you know, economic reasons, but also like long-term national security reasons. And so what you do is you provide incentives and disincentives.

I think, again, I think tariffs work if there is a specific industry. We saw this in the CHIPS Act, right? There were carrots and there were sticks in the CHIPS Act. We want to onshore chip production in this country, both for like, you know, economic reasons, but also like long-term national security reasons. And so what you do is you provide incentives and disincentives.

Well, I mean, yeah, I guess so.

Well, I mean, yeah, I guess so.

It depends on the context.

It depends on the context.

It means that we are buying more stuff from other places than they're buying from us. Sure. Because we have the biggest consumer engine in the world.

It means that we are buying more stuff from other places than they're buying from us. Sure. Because we have the biggest consumer engine in the world.

This is the list that the White House put out. And all economists are looking at this and going, what are they talking about?

This is the list that the White House put out. And all economists are looking at this and going, what are they talking about?

And then infrastructure stuff, also important, but insufficient. And so I think what you're seeing is frustration from Democratic voters who are saying, A, you're not fighting. B, you're allowing the Republicans too much opportunity. Let me ask you this.

And then infrastructure stuff, also important, but insufficient. And so I think what you're seeing is frustration from Democratic voters who are saying, A, you're not fighting. B, you're allowing the Republicans too much opportunity. Let me ask you this.

I'm going to read from CNBC since you guys won't Google this. Many observers said the U.S. appeared to have divided the trade deficit by imports from a given country to arrive at tariff rates for individual countries.

I'm going to read from CNBC since you guys won't Google this. Many observers said the U.S. appeared to have divided the trade deficit by imports from a given country to arrive at tariff rates for individual countries.

Just Google CNBC. How did the U.S. arrive at its tariff figures?

Just Google CNBC. How did the U.S. arrive at its tariff figures?

Well, scroll down right there. Just number two. Many observers said the U.S. appeared to have divided the trade deficit by imports from a given country to arrive at tariff rates for individual countries. Such methodology doesn't necessarily align with conventional approach to calculate tariffs. I mean, they've just made up what the tariffs were.

Well, scroll down right there. Just number two. Many observers said the U.S. appeared to have divided the trade deficit by imports from a given country to arrive at tariff rates for individual countries. Such methodology doesn't necessarily align with conventional approach to calculate tariffs. I mean, they've just made up what the tariffs were.

I think we should look at what industries we want to build in this country. Car industry, let's say. Let's say we want to build solar panels, which is one that I would choose.

I think we should look at what industries we want to build in this country. Car industry, let's say. Let's say we want to build solar panels, which is one that I would choose.

um just as an example we could go down the list right and i would also look at like okay what regions do we have in this country that need more jobs more manufacturing and then i would target tariffs not necessarily on the whole country that's coming in but i would target on those products coming from a given country because that is what is called a plan does it matter as opposed to this

um just as an example we could go down the list right and i would also look at like okay what regions do we have in this country that need more jobs more manufacturing and then i would target tariffs not necessarily on the whole country that's coming in but i would target on those products coming from a given country because that is what is called a plan does it matter as opposed to this

They're not taxing me. Hang on a second.

They're not taxing me. Hang on a second.

the the point is is that when and let's say china has a fifty percent tariff on our cars yes okay and they do that because they want to build their car industry it is not going to create inflation in China because they have such a high tariff on our card. We may have, and certainly by we, we mean corporate America.

the the point is is that when and let's say china has a fifty percent tariff on our cars yes okay and they do that because they want to build their car industry it is not going to create inflation in China because they have such a high tariff on our card. We may have, and certainly by we, we mean corporate America.

Oh, it's corporate America. It's politicians. I saw in the 90s how corporate America was so freaked out by Tiananmen Square. You still haven't answered my question.

Oh, it's corporate America. It's politicians. I saw in the 90s how corporate America was so freaked out by Tiananmen Square. You still haven't answered my question.

No, I think it's that they're not fighting.

No, I think it's that they're not fighting.

They're charging more for our products to get in there.

They're charging more for our products to get in there.

I don't think that fairness has anything to do with it.

I don't think that fairness has anything to do with it.

What's best for the American public is the question I would ask.

What's best for the American public is the question I would ask.

I probably need YouTube more.

I probably need YouTube more.

Because they have a lot of other people they can go to.

Because they have a lot of other people they can go to.

Who needs who more? We better hope that a lot of these countries don't. I mean, Canada is starting to develop a different relationship with China. I mean, this is going to ruin a lot.

Who needs who more? We better hope that a lot of these countries don't. I mean, Canada is starting to develop a different relationship with China. I mean, this is going to ruin a lot.

There may be some benefit in terms of manufacturing, but overall, you're going to have a regressive tax on Americans. It's not targeted. When you target cars, I agree with you. Tariffs have a place, but there's no plan here.

There may be some benefit in terms of manufacturing, but overall, you're going to have a regressive tax on Americans. It's not targeted. When you target cars, I agree with you. Tariffs have a place, but there's no plan here.

And I hope the courts continue to inhibit what he's doing.

And I hope the courts continue to inhibit what he's doing.

Well, I don't think there is a face of the Democratic Party at the moment. I mean, Chuck Schumer is nominally the highest elected Democratic official that's out there.

Well, I don't think there is a face of the Democratic Party at the moment. I mean, Chuck Schumer is nominally the highest elected Democratic official that's out there.

Let me tell you why I respect Sam. Do you know why I respect Sam? It can be helpful. Here's why I respect Sam. We're not going to get huge banana production in the United States. the United States, but now your bananas are going to cost an extra 10, 20%.

Let me tell you why I respect Sam. Do you know why I respect Sam? It can be helpful. Here's why I respect Sam. We're not going to get huge banana production in the United States. the United States, but now your bananas are going to cost an extra 10, 20%.

Oh, okay, gotcha. He just told you earlier. No, I said I'm not going to give it to Clear at the airport.

Oh, okay, gotcha. He just told you earlier. No, I said I'm not going to give it to Clear at the airport.

I have TSA pre. Why would I give it to the private one?

I have TSA pre. Why would I give it to the private one?

No, I would support targeted tariffs.

No, I would support targeted tariffs.

What's that?

What's that?

Clear is also like double the price.

Clear is also like double the price.

I even had a problem, to be honest with you, paying TSA pre because it sort of just creates two tiers.

I even had a problem, to be honest with you, paying TSA pre because it sort of just creates two tiers.

Comfortable in the way that it was before?

Comfortable in the way that it was before?

I do think it's unfair to people who can't afford to pay that they have to wait in line and that rich people get to fly through. I do struggle with that. Did you fly first class on the way here? No. Have you ever flown first class? Back in my show business days.

I do think it's unfair to people who can't afford to pay that they have to wait in line and that rich people get to fly through. I do struggle with that. Did you fly first class on the way here? No. Have you ever flown first class? Back in my show business days.

100 percent. I agree. I call for him to resign every day. I don't know that there is a single I don't think the Democratic Party has coalesced around an agenda. This is we're having a where there's a fight within the Democratic Party.

100 percent. I agree. I call for him to resign every day. I don't know that there is a single I don't think the Democratic Party has coalesced around an agenda. This is we're having a where there's a fight within the Democratic Party.

Have you ever flown private? They would pay. Have you ever flown private? No.

Have you ever flown private? They would pay. Have you ever flown private? No.

better than others i think we can i get it now i get it now that it is a little unfair that money will get you through that line at the airport which is like a supposed to be mass communication i mean mass transportation yeah i do do you only take the regular basic uber Do I only take the right... Basic Uber.

better than others i think we can i get it now i get it now that it is a little unfair that money will get you through that line at the airport which is like a supposed to be mass communication i mean mass transportation yeah i do do you only take the regular basic uber Do I only take the right... Basic Uber.

You're cool with that? So if it happens to your guy... I am cool with... With judges appointed by Bush and Obama and Biden and Trump stopping the unelected bureaucrat Elon Musk from shutting down key functions of our government. Yes.

You're cool with that? So if it happens to your guy... I am cool with... With judges appointed by Bush and Obama and Biden and Trump stopping the unelected bureaucrat Elon Musk from shutting down key functions of our government. Yes.

I will quote from Elon Musk. This is a referendum on Trump. This is a referendum on Doge. This is a referendum on Musk. And two nights ago, he got clobbered in Wisconsin. And he was there on the ground in front of a big American flag telling lies about Social Security and the American people in Wisconsin. Not all. Not all. 60 percent. 60 percent of the people in Wisconsin. This purple state.

I will quote from Elon Musk. This is a referendum on Trump. This is a referendum on Doge. This is a referendum on Musk. And two nights ago, he got clobbered in Wisconsin. And he was there on the ground in front of a big American flag telling lies about Social Security and the American people in Wisconsin. Not all. Not all. 60 percent. 60 percent of the people in Wisconsin. This purple state.

basically said go home. Enough so that Trump has to leak that he's gonna get rid of Musk and kick him out. I don't think he actually will. But he felt the sting enough that he realizes he has to do that because Doge and Musk, and I suggest Trump, Very unpopular. I mean, obviously we're talking a margin, right?

basically said go home. Enough so that Trump has to leak that he's gonna get rid of Musk and kick him out. I don't think he actually will. But he felt the sting enough that he realizes he has to do that because Doge and Musk, and I suggest Trump, Very unpopular. I mean, obviously we're talking a margin, right?

Because there's going to be 45% of people who are going to be in favor of whoever the Democrat is and 45% who are going to be in favor of whoever the Republican is. But on the margins, yes, six months ago it was different. But today it's very different, I think.

Because there's going to be 45% of people who are going to be in favor of whoever the Democrat is and 45% who are going to be in favor of whoever the Republican is. But on the margins, yes, six months ago it was different. But today it's very different, I think.

You promise?

You promise?

I haven't really. But what?

I haven't really. But what?

I would bet you any amount of money that it's not Gavin Newsom.

I would bet you any amount of money that it's not Gavin Newsom.

I will bet you any amount of money that the nominee in 2028 will not be Gavin Newsom.

I will bet you any amount of money that the nominee in 2028 will not be Gavin Newsom.

I will bet you a thousand it won't be Gavin Newsom, but you're stuck in a hundred. I don't know. I think there's a chance that if I had to guess, and this is not necessarily who I would support, and I'm going to wait. I don't really, to be honest with you, I have spent zero time thinking about 2028. But if I had to guess, I would say somebody... No, that's absolutely true. I would say Pritzker...

I will bet you a thousand it won't be Gavin Newsom, but you're stuck in a hundred. I don't know. I think there's a chance that if I had to guess, and this is not necessarily who I would support, and I'm going to wait. I don't really, to be honest with you, I have spent zero time thinking about 2028. But if I had to guess, I would say somebody... No, that's absolutely true. I would say Pritzker...

The capitalistic, I don't understand.

The capitalistic, I don't understand.

Whitmer.

Whitmer.

He's a billionaire.

He's a billionaire.

No. Like I say, I'm just guessing based upon what I'm seeing out there. I think Buttigieg also, not a fan. I think he's going to run. I think, like you say, Newsom's going to run. I would imagine there's going to be a couple of people in Congress who are going to run. Yeah.

No. Like I say, I'm just guessing based upon what I'm seeing out there. I think Buttigieg also, not a fan. I think he's going to run. I think, like you say, Newsom's going to run. I would imagine there's going to be a couple of people in Congress who are going to run. Yeah.

I, you know, I don't, I don't know if we know if I could, even in a list of people that I would name, I would feel that confident that I would know who would win.

I, you know, I don't, I don't know if we know if I could, even in a list of people that I would name, I would feel that confident that I would know who would win.

Who would it be? He said it earlier. AOC or Bernie. Oh, Bernie? Well, no, Bernie's, I mean, too old. So AOC? Is that your favorite candidate? No, I mean, AOC I don't think would win. So who's your person? If you could put your money on my person. That's my point. They don't have anybody. That was my point. They have nobody. No, I don't speak for the Democratic Party. I'm asking Sam Seder.

Who would it be? He said it earlier. AOC or Bernie. Oh, Bernie? Well, no, Bernie's, I mean, too old. So AOC? Is that your favorite candidate? No, I mean, AOC I don't think would win. So who's your person? If you could put your money on my person. That's my point. They don't have anybody. That was my point. They have nobody. No, I don't speak for the Democratic Party. I'm asking Sam Seder.

I'm not asking the Democratic Party. You've got to have someone in mind that you would like to see. I think Murphy's also going to run. I want to see what people, like who shows up with what.

I'm not asking the Democratic Party. You've got to have someone in mind that you would like to see. I think Murphy's also going to run. I want to see what people, like who shows up with what.

Yeah, I mean, I think, yeah, obviously there's going to be a competition. Is there anyone you like? Well, I think there are policies that I like that that are expressed by like Sanders and AOC on their tour, their anti oligarchy tour. I mean, obviously, I think there are other, you know, policies that are floating around that that I don't know that they're necessarily embodied in politicians yet.

Yeah, I mean, I think, yeah, obviously there's going to be a competition. Is there anyone you like? Well, I think there are policies that I like that that are expressed by like Sanders and AOC on their tour, their anti oligarchy tour. I mean, obviously, I think there are other, you know, policies that are floating around that that I don't know that they're necessarily embodied in politicians yet.

I mean, I'm curious. I'd be curious if I just don't know enough about someone like Andy Bashar.

I mean, I'm curious. I'd be curious if I just don't know enough about someone like Andy Bashar.

I don't. I don't have that kind of relationship with politicians. You don't know their names? I've had on the show... Come on, Sam, bro. Do better. Just say a name and we'll move on. AOC? No, I don't like her policies. Who do you like? I mean, Jim McGovern from Worcester, Mass. There we go.

I don't. I don't have that kind of relationship with politicians. You don't know their names? I've had on the show... Come on, Sam, bro. Do better. Just say a name and we'll move on. AOC? No, I don't like her policies. Who do you like? I mean, Jim McGovern from Worcester, Mass. There we go.

I would say Jim McGovern. There's our boy.

I would say Jim McGovern. There's our boy.

No doubt.

No doubt.

You know, you should also keep an eye on Pat Ryan. I mean, there's some stuff I disagree with him on policy, but he's also pretty good up in the 18th.

You know, you should also keep an eye on Pat Ryan. I mean, there's some stuff I disagree with him on policy, but he's also pretty good up in the 18th.

People are looking. There's a lot of stuff that Tim Walz did in in Minnesota that I think is great.

People are looking. There's a lot of stuff that Tim Walz did in in Minnesota that I think is great.

I think it's I mean, anything involving like children is difficult as as a parent. That's always like difficult to see. And I think, you know, very admirable. The father's response to it is sort of reminiscent of like what they call restorative justice, which I think.

I think it's I mean, anything involving like children is difficult as as a parent. That's always like difficult to see. And I think, you know, very admirable. The father's response to it is sort of reminiscent of like what they call restorative justice, which I think.

uh, has application in some areas and, and, and others, you know, a little bit more difficult, but you know, that's, that's what you're talking about when you talk about like that type of forgiveness and, and making sure that the victims of the crime or the family of the victims can, can move on and live their life without being stuck in that, in that moment, you know, to the extent that you can, I can't even imagine losing a child or

uh, has application in some areas and, and, and others, you know, a little bit more difficult, but you know, that's, that's what you're talking about when you talk about like that type of forgiveness and, and making sure that the victims of the crime or the family of the victims can, can move on and live their life without being stuck in that, in that moment, you know, to the extent that you can, I can't even imagine losing a child or

A sibling, frankly, but I think it's a little bit exploitive to assume that this is such a this is necessarily a political issue. I mean, yes, I don't think people should be carrying weapons. Thank you. Thank you very much. Thank you.

A sibling, frankly, but I think it's a little bit exploitive to assume that this is such a this is necessarily a political issue. I mean, yes, I don't think people should be carrying weapons. Thank you. Thank you very much. Thank you.

I think things like lunches for kids, expanding educational opportunities. Wait a minute.

I think things like lunches for kids, expanding educational opportunities. Wait a minute.

I mean, expansion of Medicare and Medicaid. I should say Medicaid in in Minnesota. He provided for expansion to who specifically? To through the ACA, the people making 400 percent of poverty. He's got.

I mean, expansion of Medicare and Medicaid. I should say Medicaid in in Minnesota. He provided for expansion to who specifically? To through the ACA, the people making 400 percent of poverty. He's got.

You're expanding the pool of people who can access Medicaid on a state-by-state basis. There are still, I don't know, half a dozen states, Republican states, that don't allow that expansion of Medicaid.

You're expanding the pool of people who can access Medicaid on a state-by-state basis. There are still, I don't know, half a dozen states, Republican states, that don't allow that expansion of Medicaid.

You can do a choice if you want to close a public... Andrew Cuomo closed a lot of public hospitals in New York State. That's not a function of Medicaid payments.

You can do a choice if you want to close a public... Andrew Cuomo closed a lot of public hospitals in New York State. That's not a function of Medicaid payments.

I'm not a fan of Gavin Newsom, but you're asking me about Waltz.

I'm not a fan of Gavin Newsom, but you're asking me about Waltz.

He asked me what I like about Tim Waltz.

He asked me what I like about Tim Waltz.

I have a different, I think, way of looking at politics maybe than you do. It's not for me. If a candidate emerges who embraces a wider set of my preferred policies, that's the one I'll support. I don't really get too involved in the... The the the individual, frankly, I mean, you know, Joe Biden was not my favorite candidate by a long shot in 2020.

I have a different, I think, way of looking at politics maybe than you do. It's not for me. If a candidate emerges who embraces a wider set of my preferred policies, that's the one I'll support. I don't really get too involved in the... The the the individual, frankly, I mean, you know, Joe Biden was not my favorite candidate by a long shot in 2020.

The fact that there were coalitions built out of Warren and Sanders supporters that ended up bringing us a much better set of labor policies than we've seen in my lifetime from my perspective.

The fact that there were coalitions built out of Warren and Sanders supporters that ended up bringing us a much better set of labor policies than we've seen in my lifetime from my perspective.