PBD Podcast
China ATTACKS U.S., FSU Campus HORROR & Kilmar Abrego-Garcia | PBD Podcast | Ep. 578 | LIVE @ The Boardroom
Fri, 18 Apr 2025
Patrick Bet-David, Tom Ellsworth, Vincent Oshana, and Adam Sosnick broadcast LIVE from The Boardroom Cigar Lounge grand opening as they cover the FSU school shooting, Katy Perry's allegedly fake Blue Origin space mission, and Trump's millionaire tax plan.------Ⓜ️ SUBSCRIBE TO THE PBD PODCAST CIRCLES ON MINNECT: https://bit.ly/42F3Tjf👕 THE LATEST VT MERCH: https://bit.ly/3BZbD6l📕 PBD'S BOOK "THE ACADEMY": https://bit.ly/41rtEV4📰 VTNEWS.AI: https://bit.ly/3OExClZ🎙️ FOLLOW THE PODCAST ON SPOTIFY: https://bit.ly/4g57zR2🎙️ FOLLOW THE PODCAST ON ITUNES: https://bit.ly/4g1bXAh🎙️ FOLLOW THE PODCAST ON ALL PLATFORMS: https://bit.ly/4eXQl6A📱 CONNECT ON MINNECT: https://bit.ly/4ikyEkC👔 BET-DAVID CONSULTING: https://bit.ly/3ZjWhB7🎓 VALUETAINMENT UNIVERSITY: https://bit.ly/3BfA5Qw📺 JOIN THE CHANNEL: https://bit.ly/4g5C6Or💬 TEXT US: Text “PODCAST” to 310-340-1132 to get the latest updates in real-time!ABOUT US:Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.
Chapter 1: What is the Trump administration's new millionaire tax plan?
But it's where the conversations get deeper. But I'm excited about that. However... We haven't done a live, Rob, when's the last time we did a live, Rob? Has it been a few months, Rob? I think it's been four or five months since we did a live. Who was the last? The election. Oh wow, it was election night. We haven't been in here since. No, election night we were not here.
We were at 599, we were at 1200.
The debates. When we did the debate watch party.
Let me tell you how I know we haven't done one in a while because we had to put the sprinklers here. We had to readjust the coating for this to become a cigar lounge bar liquor license that took us. We haven't done this for six months. So it's great to be back. It's great to be here with you guys. Alright. We got a lot of stories. Let's go through them. Did you guys hear about Trump's tax hikes?
What the new tax proposal is? Who's following that story a little closely? Yes? The first three rows are a little bit concerned about it, folks. These are the rich people that are worried about the types of taxes they're going to pay. We're going to talk about that. Trump said he's sick and tired. von Fed-Chef Powell. Termination cannot come fast enough.
I don't know if that's a threat or he's upset, but we'll talk about that as well. California sues to block Trump's illegal tariffs. There is a name in there. It's a guy named Gavin Newsom, who sues, who happens to be one of Roger Stone's favorite people, by the way. I know Roger's a big fan of Gavin Newsom. Very good friends.
Dann haben wir Xi, er kämpft um Trumps Tarif mit der globalen Charme-Offensive. Wir müssen darüber sprechen. China lacht heraus und sagt, Pessenten in den Vereinigten Staaten. Sie haben uns Pessenten genannt. Einer ihrer Repräsentanten hat gesagt, Pessenten in den Vereinigten Staaten. What a thing to call if you want to negotiate. Let me read it to you one more time. Tell me how you feel.
Make some noise if it makes you feel uplifting, if you want to continue negotiations or you want to be tough with them. Let me read it to you, then react accordingly. Ready? China lashes out, says peasants in the United States.
Yeah.
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Chapter 2: How is China responding to US tariffs and trade tensions?
Zero for you. I want your account. What business? Yeah, who's your accountant? That's a very small business you run. No, no, it's called you run a small business. But watch this here. So right now they want to lower the corporate tax rate from 21 points to 15 points, which allows you to have that additional 6% to do what?
Wenn du 50 Millionen Euro machst, sagst du, du hast 20 Millionen Dollar Profit, das sind 6% zusätzlich. Ich kann ein paar andere Leute hirten. Das ist eine gute Sache, was sie tun. Und sie tun das in einer Art, um einige dieser Taxen zu nutzen, weil der eine große Versuch, den er gemacht hat, war was? Keine Taxen auf was? Wer erinnert sich an diese große Kampagne? Tipps. Keine Taxen auf Tipps.
Wie viele von euch denken, dass er diese Versuche behalten muss? Who thinks he needs to keep that promise? Who thinks he will keep that promise? I think he will keep that promise. I think, Tom, I think a part of me thinks, you know, you're in the right, where he's trying to get the other side to come and want to meet with him. But what ends up happening there, I don't know.
I do know if they do touch increasing tax rates on business owners, they're not going to have a lot of happy people there, if that were to take place. Vinny, were you going to say something?
No, no, no. I'll say something after Tom says it.
Yeah, because...
We're here as a CPA, financial advisors, come on.
I'm just curious, I get the tactic part, tactic with tariffs, and we talked, who did we talk to, Eric Bolling, about how he didn't trust Lutnick, and the other guy is Michael Faulkner.
Like, who's in his ear, like, is this all Trump by himself, or is he, the people that are next to him, the Lutnick and the Faulkner, saying, these are the tactics that you should do, or is this all Trump's, you know... I am convinced this is Trump's model, okay?
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Chapter 3: What are the challenges in the US-China trade negotiations?
What was that movie with Robert Redford with Demi Moore? What is that? Indecent Proposal. I would say Ordinary Love, but that's a technical question. This is definitely no Ordinary Love right here. What I'm saying to you is, this guy's not fighting back. He's just saying, this is what's the right thing to do. He's a logical guy.
I've been very complimentary of Jerome Powell. I think We've had a soft landing. Inflation's at, what, 2.5%? Yep. You know, rates, he's made some cuts. I actually think he's doing a damn good job, regardless of what Trump says. What would you say about... So, let me explain to you how this works.
Here's how it works. So, every year, for the last God knows how many years, we've had annual conventions. And we do it at MGM Grand Arena. Sick, sick event. Great event, 10,000, energies, hype, phenomenal, all this stuff, right? And the moment the event ends... I start already talking to my executives about what is the new announcement we'll be making for next year, Vegas, 12 months later.
And all I'm collecting is good news. That's all I'm collecting. I need good news on January 1st when it's our kickoff. I need good news on February 1st when it's our award ceremony that we do on the Zoom. I need good news when we're in Dallas. Right now Train to Trainers is in Dallas. And I need the best news when I'm in Las Vegas in front of everybody to announce what we're doing.
When it gets closer to May, June, July and I don't have any big great news, I'm not a happy guy. I've been telling my guys, we need some good news. What's the news? Comp, which is like taxes. Contest trip, recognition. You know, new technology, which is speed, efficiency. But I have to get some kind of news for them. Trump right now is trying to get some good news to tell.
We need some positive distraction. It's the key word. Period. Trump needs a positive distraction right now to get everybody to say, but did you see the tax cuts? But did you see the interest rates lowered? But did you see this? But did you see the new jobs report? He needs that. With everything that's going on right now, he's got one thing. He needs some good, positive press.
And this guy is not helping. If he gets some good, positive press here, what can he say as a guy that's in real estate? Did you guys notice right now the mortgage rate is 5.85? Wow, it's 5% for the first time. News, marketing everywhere. So there's a little bit of PR that we need right now with positive news, with all this stuff that's going on.
Yeah, I mean, he still has 90% plus approval in the Republican Party, in the base. You're good there, he's good. Democrats are always going to hate Trump, they have TDS, we understand what's going on there. The independents, in the last 30 days, have gone from 50% approval down to like 30%. So he's losing independence day by day by day by day.
Now, Trump may not care, because he's not running for re-election. But J.D. Vance or whoever's next in line might be like, let's get some Ws over here. I fully agree. He needs to put some points on the board and win a couple games.
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