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April 18, 2025 - Bannon's War Room
47:47
WarRoom Battleground EP 749: Asleep At The Wheel With what Is Happening In South Korea
Participants
Main voices
s
steve bannon
25:52
Appearances
l
larry kudlow
01:13
Clips
b
bill maher
00:05
j
jake tapper
00:08
| Copy link to current segment

Speaker Time Text
unidentified
I will be here with the other two.
Hello! I will be here with the heart of the world!
Thank you!
Finally! We are here with the heart of the world.
The heart of the world has been in the world.
I will be here with the heart of the world.
I'm sorry!
The heart of the world has been in the world.
The heart of the world has been in the world.
I will be here with the heart of the world.
I will be here with the heart of the world.
Amen! Amen!
Amen, everyone!
Amen! Amen!
Amen! Amen!
steve bannon ▲ ● ▼
This is the primal scream of a dying regime.
Pray for our enemies.
Because we're going medieval on these people.
I got a free shot at all these networks lying about the people.
The people have had a belly full of it.
I know you don't like hearing that.
I know you've tried to do everything in the world to stop that, but you're not going to stop it.
It's going to happen.
jake tapper ▲ ● ▼
And where do people like that go to share the big lie?
unidentified
MAGA Media.
jake tapper ▲ ● ▼
I wish in my soul, I wish that any of these people had a conscience.
unidentified
Ask yourself, what is my task and what is my purpose?
steve bannon ▲ ● ▼
If that answer is to save my country, this country will be saved.
War Room.
unidentified
Here's your host, Stephen K. Vance.
War Room.
Here's your host, Stephen K. Vance.
steve bannon ▲ ● ▼
It's Holy Thursday.
It's the 17th of April in the year of our Lord, 2025.
We had this morning on the show the individual George Minion running for president of Romania in the Sovereignty Party.
As you know, as we do this coverage of Brazil or France, the United States, the legal system of the globalists is all over trying to destroy the sovereignty movement throughout the world, kind of the MAGA movement that's gone global.
And Korea, I think, is the most dangerous part of this.
They've had a coup.
A coup that the Chinese Communist Party was in back of.
Now things are getting sorted out.
There's going to be a new election.
Colonel John Mills is with me and Mina Kim.
Mina from Build Up Korea.
Mina, let me start with you.
What did we just see there?
Because it seems like there was this intense period around the coup.
Right to remove the existing president.
Now things are getting sorted about the election.
Just walk me through the intensity of what we saw a week or so ago, where we are today, and where are we heading towards on this election?
unidentified
Sure, I would love to.
So things are pretty intense in Korea right now with the court's decision to unanimously impeach the president.
There's certainly a lot of controversy surrounding the martial law declaration, which has caused the impeachment, the timing, the way it's handled.
Some of these are regrettable in many ways.
But however, one thing that came out of the whole process is that it opened the eyes of the people to the deep corruption within the government.
So the video you see right now here is There's this movement happening called Yun Again.
But from what President Yoon himself has said, it's not about him running again.
He's saying that it's more like a Korean version of MAGA movement, which is an effort to inspire people to elect a leader who will make Korea great again and not necessarily him.
And right now there are about five or six big names in the conservative field, but no one's really dominating in the race.
There's a prime minister, Han, which we'll talk about later.
He's acting president right now.
He's not officially running, but people are talking about him.
He's someone who understands foreign policy really well, especially because he used to be Korea's ambassador to the U.S., and he tends to appeal to moderates as well as conservatives.
steve bannon ▲ ● ▼
Talk to me.
In the UN again, are people awakening to the fact that outside influence, Chinese Communist Party and others, Influences were there to actually drive this thing and to actually have Yoon removed and pretty extraordinary in Korean politics to actually have him removed from office?
unidentified
Of course.
It definitely had an influence, I think.
And one of the biggest threats Korea is facing right now is China's growing influence inside Korea.
A ton of CCP espionage going on, including drones flying over military bases, hacking into government systems, that kind of thing.
And one hack even leaked identities of the black op agents, Korean black op agents, and sensitive military data.
And it's not just the cyber stuff.
The Chinese have been buying up over 50% of Jeju Island, which is...
The top vacation spot in Korea is now owned by Chinese investors.
And there's also a province called Jolla Province, which is kind of like California of Korea.
Chinese companies are making massive investments there as well.
And here's the part that really worries me.
In Korea, foreigners can vote in local elections if they've lived here for just three years as permanent residents.
And that population is growing fast.
Most of them are Chinese.
So now we've got foreign nationals who aren't even citizens voting in our elections, which is very wild and it's very familiar.
And the last serious matter is that the Democratic Party of Korea is against punishing Chinese spies under Korea's espionage law, even though they're clearly a growing threat in Korea.
steve bannon ▲ ● ▼
Where are young people coming at?
Where are people under 30?
Are they getting more anti-American?
Are they closer to America?
Do they like what they see in the MAGA movement?
Are they getting closer to China?
I know Korean pop is some of the most influential and biggest of all, not just music, but cultural influences in Asia, particularly East Asia.
So where are the young people coming out on this?
unidentified
So young people in Korea are impacted by social media such as Instagram or even X. We're not big X users, but with Elon Musk in America, a lot of Korean young generation have been getting into X most lately.
And one of the concerns, though, we don't have a major conservative media outlet in Korea.
And I'd say about 99% of the media leans left.
And a lot of young population are affected by the media as well.
But they are slowly realizing what the media is doing is very corrupt.
And especially with the fact that there's this one broadcasting center, media in Korea, which is considered a mainstream media, they were actually going under seriously.
All of a sudden, China's IT company called Tencent, they pumped $10 billion into them.
And now the outlet is super pro-China and pro-left and not really pushing for Korean interests anymore.
So Korean young generation under 30 or 30s are realizing that the media is already bought up by Chinese forces and something's wrong.
And then with the whole President Trump and Elon Musk, Doge, exposing government corruption in America, they're slowly thinking that Korea also has the same problem, and they're getting deeper into this issue.
steve bannon ▲ ● ▼
Wow. Colonel Mills, give me your assessment.
You've been on this for a number of years.
You were the first to give us a heads up that say, hey, something's happening with Yun and they're going to try to make a move on him.
And clearly they did, which is still the most outrageous thing to remove Yun from office in what was a coup d'etat.
Where do we stand today, sir?
unidentified
Well, thank you, Steve.
What we have is a massive dereliction of duty within the U.S. government to even understand what's going on.
Now, some of this is absolutely intentional.
We have an acting ambassador over there, Yun, Y-U-N.
I don't know him personally, but I've had several reports.
He actually was, even after the election, and even after the inauguration, I'm talking about the American election in November, he was...
Actively coordinating with the Democrat Party of South Korea and essentially ignoring and not – so he was a partisan.
So I think we have a huge problem over there right now.
We need to get a mega ambassador or somebody right-minded over there.
But here's what I don't understand.
steve bannon ▲ ● ▼
South Korea – It's been one of our best allies ever.
We still have 28,000 combat troops there.
South Korea and Australia had our back even during the Vietnam War.
How could this go?
I mean, I'm upset enough and people should know we're working with it.
It's OFAC or whatever on issues related to Brazil.
Why does it appear?
And at this time, they're flying over.
We're trying to work out a big trade deal with Korea.
Why does it seem like we're a little bit asleep at the switch of what's going on in South Korea?
Since it's always been called the knife that's pointed at Japan, it's part of mainland Asia.
We fought a massive war there with the Chinese back in the 50s.
I think it was 500,000 Chinese troops overran the Marines there in the Army.
This has been something we've been involved with.
Since World War II in the 1950s, this was always a priority.
When I was in the 7th Fleet, we would do combined exercises with the Korean Navy.
This is when the Japanese Navy really wasn't because of their post-World War II defense pact.
Really were quite, institutionally were pacifist.
The Korean Navy was the Navy in the East China Sea and really in the South China Sea in the Straits of Taiwan because the Taiwanese Navy.
It was very small.
And their land forces, they're some of the best combat troops in the world.
I'm just stunned that we're kind of on our back heels when it's so obvious, and people you know and people we know, that the Chinese Communist Party, which is at economic war with us, and now we're fully engaged on a global basis, right there in East Asia,
they've had a coup and just used, guess what?
The phoniness of an election and people questioning that, like Donald Trump did and we did and we still continue to do, in Romania this morning, right?
You've got issues with Bolsonaro's on trial across the world.
How is it that we seem like we're on our back foot on this?
unidentified
The American footprint over there is dominated.
We'll just call them what they are.
We call them tour babies.
And I'm talking about both the uniformed military and even our intelligence community and State Department staff.
They're tour babies, which are oftentimes they have spouses that are related to Korea.
They're over there living the good life and they are often ignorant as to what's really going on on the ground.
Moon Jae-in replaced the Top 400 military and intelligence officers that had a close relationship.
And the American counterpart just said, hmm, okay, wow, all these people just got replaced.
Okay, we'll deal with the new force that Moon Jae-in put in.
We gotta, I'm sorry.
steve bannon ▲ ● ▼
Hang on, slow down, slow down, slow down, slow down, slow down, stop.
I want to make sure the audience understands that.
Hit rewind.
What did you say?
When did it happen?
Because it's pretty shocking, right?
But I don't think a lot of folks understand that.
Walk us through that again and how we accepted this as a government.
Walk me through that.
unidentified
Well, this was during the Biden years, but Moon Jae-in replaced summarily, maybe even incarcerated, maybe even executed, 400 at least.
Top uniformed military leaders of South Korea and the KCIA, the CIA equivalent.
So he did a massive purge and our U.S. government response from the deep stater elites was ho-hum.
This was shocking.
We should have had alarm bells going off, but again, it looks like, and the USA bumper sticker is all over the Korea, the National Election Commission and A-Web over there.
So it looks like we had both people asleep and people in cahoots with the coup that was going on over there.
steve bannon ▲ ● ▼
What is our current status right now?
The state of play, the election, I think they have to come forward and say we're actually going to run, I think, by May 3rd, Saturday the 3rd, or Sunday the 4th.
Then we have an election.
But what do you sense the state of play is right now?
unidentified
I'll let Mina go ahead, please.
steve bannon ▲ ● ▼
Oh, sure.
Hang on, Mina.
Hang on a second.
John, I want you to answer that.
Give me the state plan in your assessment.
unidentified
They're forming and storming.
There was great anguish after the constitutional court decision, which I am concerned.
They were actually just a feud on April 1st, April 2nd.
It was looking like they were going to actually restore President Yoon, Y-O-O and President Yoon, to his position and essentially vacate the impeachment.
And then...
Somebody talked to them and they flipped.
All eight went against Yoon-Y-O-N.
So this is just shameful.
I think they're rallying now.
There was a sense of despair, shock, but I think they're getting to rally.
And, you know, the top four, Na, Kim, Hong, Han.
I mean, I think they just got a form and storm around somebody who can win.
And I think it's a problem.
Everybody... Most Koreans know Lee of the Democrat Party is, let's just face it, he's a crook and he's a shill for the Communist Party.
And this is very important.
This is not North Korea anymore.
This is Communist China.
They are the puppet masters.
steve bannon ▲ ● ▼
Mina, the same question.
Particularly given, I think, the critical path here is the third or fourth.
You've got a couple of people out there.
I've seen recent polling over the last couple of days.
Are people rallying to the prime minister because he's kind of last man standing?
I think the mayor of Seoul has already announced he's not going to run.
So does it look like it's coming around or starting to revolve around, was it the prime minister?
Who's left behind?
Where do we stand right now in your mind?
unidentified
Yes, there are so many divisions, even within the conservative party when it comes to the candidates.
We do have five or six major candidates that are...
Running right now.
And Prime Minister Han did not run yet.
He is thinking about it because the population, Korean population, especially young generation, approves him as being the former ambassador to the United States.
And he knows America really well.
And even with the recent CNN interview of him about the tariff, Prime Minister Han addressed the tariff issue, basically saying that we're not here to fight against the United States.
And find a good mutual agreement.
He thinks that the U.S. might be open to adjusting those tariffs.
And he emphasized staying cooperative and keeping the conversation going with President Trump, which is very smart.
And then the CNN reporter tried to push him, which kind of like a lot of young people in Korea like this.
CNN reporter said, if the U.S. is Korea's friend, is this how a friend acts?
Prime Minister Han responded saying even friendship should be rewarded sometimes.
So he was basically acknowledging President Trump's 25% tariff suggestion, but he made it clear that Korea wants to work with the U.S. and not against it.
And this is definitely an important point for young people in Korea to support Prime Minister Han as being the next president as well.
But there are definitely different candidates that are up there.
steve bannon ▲ ● ▼
They're still up there.
Don't you have a winnowing out?
Is it the third or fourth that you come down and basically there's a process where you get down to basically two candidates?
Or is this multi-party as we run up?
unidentified
Walk people through the process.
Within the Conservative Party...
For the primary, you get to have two top candidates in the last minute.
And then you decide among those two, whoever gets the majority vote will become the nomination of the Conservative Party.
And how that gets decided is by the vote from the Conservative Party members, which is the 50% of it.
And then the rest of the 50% comes from the, this is a little weird part, but popular.
So, which can be manipulated anytime.
So that's how the Conservative Party nomination gets decided.
steve bannon ▲ ● ▼
John Mills, what should the United States be doing right now in your mind to assist our ally here to get through this time of turbulence?
unidentified
Well, number one, get a mega-minded ambassador over there immediately and remove, in advance of that, even remove the acting ambassador.
He's a careerist.
I don't know him personally, but my experience with career ambassadors is they're about 97%.
Globalist and closet anti-Americans.
Third is we should also form an election observation group.
Let's hire, just like Elon Musk, let's form a cell of 510 personalities to go over there in special government employee status.
That's 18 U.S. Code 202.
To be just the presence of an American delegation appointed by Trump.
To observe the election is going to have huge deterrent impact against election malfeasance.
steve bannon ▲ ● ▼
Amazing. Mina, any closing thoughts here on Holy Thursday as this election, I think, takes place in the final election is in late May.
Am I correct?
Mid to late May?
unidentified
The primary election is the early May, actually.
steve bannon ▲ ● ▼
Early May.
And then when's the general election?
The general election 30 days after that?
June 3rd, so 30 days after, the eve of Tiananmen Square.
Talk about intense.
Mina, closing thoughts.
Where do you think we are right now?
What should people in the United States be thinking of?
What assistance does Korea need, our great friends and allies in Korea?
unidentified
Of course.
I would say this June election in Korea is huge.
If a conservative president does not win, we're basically handing over.
Are too far left.
The legislature and judiciary are already leaning that way.
And then the presidency is the last thing that's holding the line.
And I want to emphasize that Korea is the only country in Asia that's built on Judeo-Christian values.
And which is interesting is that our first president, which is our founding father, literally read the U.S. Declaration of Independence.
And was inspired to build the Republic of Korea.
And today, you know, Korea sends out more missionaries than any other country except the U.S. We're second in the world.
And that, I want to say, Korea is part of America's legacy.
And I really thank you for that.
And if America, especially leaders like President Trump or you, Steve Bannon...
Can speak up and show support for Korean conservatives during this election?
This would make a massive difference.
Even though there's some kind of anti-American spirit going around in part of Korea, but Korean people still love America.
Koreans would line up.
In front of five guys, which just entered Korea for three to four hours to get a burger, American burger.
So that's how much we love America.
So at this moment, if you stand with Korea, we'll recover our freedom and stand firmly with America.
And we will fight together in this spiritual battle.
And that's unfolding right now in the world.
steve bannon ▲ ● ▼
I mean, I don't think there could be a better message to America on Holy Thursday than yours and our great allies and compatriots in Korea.
This is a fight that's absolutely essential, particularly when the forces of darkness have been in back.
The black hand of the CCP has been all over this and the Korean people.
Have gone through too much.
Too many wars have, you know, struggled and now have the ability to have some prosperity.
They need peace.
They don't need to be sucked into the CCP's orbit right now, particularly given all the evil that the Chinese Communist Party has done to their own people and they intend to do the people of East Asia.
Mina, where can Build Up Korea, where can people go to find out more about your work and find you on social media?
unidentified
Of course.
Thank you.
It's buildupkorea.org.
That's our website.
You could also go on to MKimTV on YouTube, which is my podcast.
I talk about U.S. politics and a perspective of biblical worldview.
And I usually speak in Korean for Korean people.
I also have my ex-account, which is not too big, but I'm growing it.
And Mina Kim, there it is.
You can find me at Real Mina Kim.
And thank you so much, Steve, for the opportunity.
steve bannon ▲ ● ▼
The biblical worldview.
Thank you, ma'am.
Appreciate you.
unidentified
Thank you.
steve bannon ▲ ● ▼
See the great, the incredible people.
Incredible. What did you say?
The second most missionaries in the world?
Spreading the word of the risen Christ.
And back to the United States, come from South Korea.
Remember that as we have these folks back in the next 30 days.
Look, it's all over.
It's Brazil.
It's Romania.
It's France.
It's Nigel Farage and the United Kingdom.
It's here in the United States, obviously.
This fight is a global fight for the sovereignty movement nation by nation because the globalists are just not going to sit there and turn things over to you.
And they're going to play dirty.
And they're going to play hard.
They're going to play hard and they're going to play smash mouth.
Colonel Mills.
Closing thoughts on – we've got a couple of minutes.
Closing thoughts on the Chinese Communist Party, the trade war tariffs, Korea, where it all fits in, sir.
unidentified
I think the great game is just – this is the great game.
They're trying to get South Korea.
This is not North Korea.
I've dealt with the North Koreans.
They're nasty.
This is the Chinese Communist Party.
Pulling a coup right in front of us.
We got down in Indonesia.
The Chinese are trying to sneak a bomber base into Indonesia.
This is just crazy town.
But Amina mentioned Jeju Island.
Korea has a magnificent, powerful navy.
If China could get their hands on Jeju Island, essentially they control the North Yellow Sea and prevent any intrusion by any Allied ships.
This is geopolitical strategy, the great game in progress, Steve.
steve bannon ▲ ● ▼
Colonel Mills, where do people go for your social media?
unidentified
Thank you, Steve.
It's Colonel R.E.T.
John, Colonel Rhett John on Substack, and there we go, Colonel Rhett John 2 on X. Thank you, Steve.
steve bannon ▲ ● ▼
Colonel Mills, thank you.
Everything on Taiwan and Korea you've been doing has been just amazing and keeping our audience way ahead of the curve.
unidentified
Thank you, Steve.
steve bannon ▲ ● ▼
These are not random occurrences.
They steal the election in Romania.
They have Le Pen scheduled for prison.
They may do some ankle braces at home, but they scheduled for prison for four years so she can't run.
They have Bolsonaro in really a fight for his life in Brazil.
Because once they send him to prison, which they will send him to prison, they'll kill him in prison.
He knows that.
We have the alternative for Deutschland they're trying to suppress.
And we have one of our closest allies.
They have a coup and, I don't know, we just appear to be sitting there.
We have to go all in on these things.
We're the anti-globalists.
Remember, the Westphalian system is based upon a network of free countries putting their own interests first to themselves.
unidentified
It's the internal logic of this.
steve bannon ▲ ● ▼
And the Korean people have been so absolutely incredible, particularly as they struggle with this.
Given their strong Judeo-Christian values.
unidentified
Okay, we're gonna take a short commercial break.
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bill maher ▲ ● ▼
politics to pick up, no taxes on tips, all these little things.
unidentified
It's somewhat of a distraction from the ongoing.
steve bannon ▲ ● ▼
Of course.
And raise taxes on the wealthy.
He said it last week.
unidentified
Is that coming?
steve bannon ▲ ● ▼
It's coming.
unidentified
But what about the tax cut for the wealthy?
Isn't that coming too?
steve bannon ▲ ● ▼
No, no, no.
It's going to be extended.
He's not going to extend the tax cuts for the wealthy.
No tax on tips, no tax on Social Security, and no tax on overtime.
unidentified
So you're saying all the donors are about to get a tax hike?
steve bannon ▲ ● ▼
They're already screaming.
But he said he told the Senate that he's open to...
When extending the tax, not extending...
unidentified
Oh, open to.
steve bannon ▲ ● ▼
No, no, no, but he's already, I think, and Scott Besson, the Secretary of the Treasury, I think, is working on this, not to extend it to the upper bracket or make a new bracket.
unidentified
And you think Congress is going to pass that, knowing who they get their money from?
They do whatever he tells them to do.
steve bannon ▲ ● ▼
If President Trump comes in and says to do it, he'll do it.
unidentified
Okay, so the Steve Bannon plan is that Republicans are going to abandon the donor class, and then what's going to happen in 2020?
steve bannon ▲ ● ▼
Where else are they going to go?
We got total leverage over them.
Where else are they going to go?
unidentified
There's another election coming up.
steve bannon ▲ ● ▼
In the midterms, where else are they going to go?
If you don't restore the economic viabilities, the working class and the middle class, and you have to do that by sealing the border.
Right? So it's not flooded with illegal alien labor.
Number two is the tariffs to bring manufacturing jobs back.
And the third is that working class and middle class people need a tax cut.
They need no tax on tips, no tax on overtime, and most importantly, no tax on Social Security.
That's another $500 billion a year we have to come with.
It's going to be a huge fight.
But Democrats and progressives had control in 2021 in those first hundred days.
And they put up a note taxing the billionaires and didn't even get out of committee.
President Trump and the MAGA movement will raise taxes on the wealthy.
unidentified
I just think it's bad for the economy.
On the other hand, it seems to go against everything Donald Trump has ever believed in.
I mean, I think he's always understood this.
And I've been reading the same things you've been reading, and frankly, I just haven't been believing it.
Well, I don't think it's going to happen, but it's a threat.
And we've got, you know, my old friend Bob Novak, you remember Bob Novak from Evans and Novak, he used to say, the only reason God would put Republicans on theirs is to cut our taxes.
And if they're raising them, I think it's going to split our party.
I think Republicans will lose the midterm elections.
Don't go there.
You remember what happened in 1992.
Remember when Bush raised taxes?
We lost everything.
Right. Pretty unbelievable, to be honest.
I'm at this point, because of reconciliation, I mean, what Republicans would go forward with a tax increase when they should be making the Trump tax cuts permanent, eliminating tax on tips,
Social Security, and overtime?
Because that's what the president promised.
Why would they go in any other direction?
Because they're worried that Democrats are going to say what they always say, tax cuts for the rich.
When, in fact, after the Trump tax cut of 2017, the share of taxes and the amount of taxes paid by the rich went up.
It didn't go down.
And quickly on taxes on this tax day, all kinds of stuff floating out there.
We don't have the makings of this bill yet, but there's all kinds of trial balloons going out that the top tier could be tax increase.
There could be a raise in the business corporate tax.
Is that real?
larry kudlow ▲ ● ▼
You know, in my day, in my experience, which has been a couple of years in this game, in and out of government, I thought it was the Republicans that wanted lower taxes and the Democrats that wanted higher taxes.
I guess that's not always true.
I thought the Republicans wanted to reward success, not punishing it.
This loose talk about another new bracket for millionaires.
I don't think it's a crime to be a millionaire, by the way.
Small businesses would pay this top bracket.
I do not understand this.
I can't believe Mr. Trump's going to go along with this.
He campaigned on extending his tax cuts, adding some great middle-class taxes.
Tax cuts on tips and overtime and seniors.
That's all good.
Lowering the corporate rate if it's made in America to 15%.
That's a great inducement for people to onshore.
That's what he wants.
Why would he want to penalize successful investors, successful people who are helping to onshore, and successful small businesses that strike it hot?
I don't understand, and I can't believe what I'm hearing.
It's giving me a headache.
Tax day should be taxed.
unidentified
We'll get you some Advil, and we'll call it a day, but we'll see how it comes together.
Larry, thank you so much.
larry kudlow ▲ ● ▼
Thank you, Brett.
unidentified
Before we get into all the good stuff in the tax bill, I want to alert you and your listeners to something I'm hearing that I think is very dangerous, and we need to get all conservatives to shout out against this, which is that there are some in Congress, some Republicans,
who want to raise the top income tax rate.
That would be a total disaster.
For those of us who are old enough to remember when George H.W. Bush raised taxes, and remember, read my lips, it split the party, it did great damage to the economy, and it led to the election of Bill Clinton.
So Republicans would be making a major mistake if they raised the top rate.
In fact, every time in history, by the way, my buddy Art Laffer has a great book out on this called Taxes Have Consequences.
Every time we've raised tax rates, the economy has gone into recession.
The rich have actually paid less taxes, and the burden has shifted to lower-income people.
This is not a way to help America, and I just wanted to get that out there.
So I want your listeners to call your congressman or senator and say, do not raise tax rates on anyone.
That's not what we do as Republicans.
steve bannon ▲ ● ▼
Okay, this is not what we do as Republicans.
Everything you heard from Hannity, from Steve Moore, and Larry Kudlow is just spin and hype.
First of all, the Bush tech cuts, he raised them against everybody.
This is just taking the top bracket and it's a snapback.
It goes from 37% to 39%.
And maybe a new bracket, which I strongly support, of a new bracket of millionaires go to 40%.
We're not thinking of, people are not pushing this because of any kind of recriminations or revenge or soak the rich.
It has nothing to do with it.
It's very much just back to simple math.
Number one, you're doing this so you can afford additional cuts for the working class and the middle class.
That would be you, this audience.
Right now, the tax cuts from President Trump are going to be extended and made permanent for you.
The upper bracket starts, I think, at $600,000 or $673,000 or something like that.
Okay, it's not going to be extended for them.
They will snap back from the 37% to basically the 39%.
If you make over a million dollars, you'll be 40% or above.
And for the Bayoners, it'll be 40%.
The reason we're doing this, and so it's not, when they say the Bush in 92, they're just lying.
That was a tax, he raised taxes on everybody.
That's not happening here because we have to find additional resources for no tax on tips, no tax on overtime, and no tax on Social Security for the working class and the middle class.
The two numbers to keep in mind are 6.5% to 3.5%.
President Trump's plan, as articulated by Scott Besant, but Scott Besant laid it out many times in the campaign, the run-up, is to take the deficit, these massive deficits, From right now, 6.5% or 7% of GDP.
And remember, I'm going to give you some facts.
All they give you is spin and whining and throwing the toys out of the pram.
The deficit for the first six months of the year is $1.3 trillion.
I have told you that we're going to blow through $2 trillion, and I think you're going to get to $2.5 trillion.
It's not sustainable.
The financing of the $37 trillion in debt, particularly as you're adding essentially a trillion dollars every hundred or so days.
Who's the first person to do that analysis and get it out there?
You're correct, Stephen K. Bannon, in this show.
A year or so ago.
A couple of years ago.
What Besson has focused on is the percentage.
The 6.5% we're running as deficit to total GDP.
At 6.5%, it's not sustainable.
Let me note that that's what's happened in France.
When Macron's party was thrown out of the parliament, their congress was thrown out because their solution, at 6.5%, it's not sustainable for them.
They had to get to 3, 3.5%, which is not great, but at least it's livable.
They went and had a whole bunch of taxes on working-class people, and the Front National Rally said, no, we want to cut out the globalists, we want to cut out the embassies, and that's how they got thrown in.
That's how they shifted over.
This is why Liz Truss was turfed out by the bond market.
You have to get to 3%, 3.5%.
How do you do that?
Well, number one, with the supply-side tax cut that we're going to have here, And corporate taxes to Larry Kudlow, the reason we're not going to agree to, and it's ridiculous to go to 15%, is the corporations don't take that money that's saved and put it in plant and equipment to build up the United States and to hire more people.
They game the system and buy equity and game it to drive stock price because of their pay packages.
Warrant packages and option packages, they make a fortune, they walk away.
You can't trust the corporations.
They're not trustworthy.
How do I know that?
Look at the DEI programs.
They were the worst.
They were the commissars.
The people in the C-suites have no values.
They don't believe in the Judeo-Christian West.
They don't believe in the underlying tenets of this country.
Maybe they'll do a commercial with the American flag and some cowboys, make you feel better, right?
They're American.
You can tell by their actions.
By their actions, ye shall know them.
6.5% to 3.5%.
How are you going to get to number one?
You could grow your way up, but even the consensus is around, I don't know, 2.5% to 3.5%, maybe 3%.
You get to 3% growth, you're going to be lucky.
So you take that as the denominator, and you look at all the tax structure you have today, and you'll generate, I don't know, $4.5 trillion?
Of revenue, but then you got to cut back.
No tax on tips, no tax on overtime, no tax on Social Security.
Leaves a bigger hole.
The spending's not being cut.
If they can show us where the spending's being cut, Doge, show me the money.
You have to have, I'm not trying to dump on anyone else.
I'm a big supporter of Doge, but we need to see tangible, tangible, tangible.
Cuts, he said it was what $3 billion is not going to be.
Then he said it's $150 billion next year.
Just, you know, Russ Vogt said, hey, I'm finding something.
I'm trying to do something.
He's got a rescission for $10 billion.
It's basically optics to take out PBS and NPR and to do the first part of USAID, which has to be done.
But we have to cut spending.
You're going to have to cut the defense party.
Don't do that.
You're never going to cut the social programs.
Of discretionary.
We'll figure out the entire list.
Just a discretionary now.
You need a couple hundred billion dollars of cuts.
Where's it going to come from?
These bills they're talking about, folks, have $170 billion, essentially, for the disaster we have in the deportations.
And $150 billion to the Pentagon on top of the $900 billion Defense Authorization Act.
That's over a trillion dollars.
There's going to be a huge fight on that.
They don't want to cut that.
So, if you're only growing it so much, And you have additional tax cuts for the middle class and working class.
And you're not making massive cuts out of spending.
You're doing these tiny marginal cuts.
Remember, it's not Steve Bannon just kind of winging it.
They went to Doral.
The House went to Doral for a three-day seminar back a couple of months ago.
Remember, they came up with $30 billion.
I think the $30 billion was over 10 years.
The $1.5 trillion they're trying to fool you with, that is over 10 years.
That is $86 trillion currently of spending.
$86 trillion of spending.
And they want to cut $1.5 trillion.
So it's all performative.
And that's in the out years.
It'll never happen.
My point.
My point is the gap here is going to be 6.5%, not 3.5%.
It's not sustainable.
The bond market is going to have a vote.
What we don't want to get into a situation, okay, is where President Trump's already the alternatives because of what happened to him, what happened before he got here, are getting narrower and narrower and narrower.
They just are.
We don't have expanding alternatives.
We've got decreasing alternatives.
Why? We have $36 trillion in debt, and we've shipped all the manufacturing jobs.
We're not a manufacturing powerhouse.
And we still have this mentality of the Pentagon.
We've got to be all over the world.
We have two as we sit here tonight on Holy Thursday.
And I hate talking about something as grubby as money and taxes in the run-up to Holy Thursday's ceremonies and activities.
But this has got to be hammered out because there's too much.
You're getting all the spin.
This is about the upper class, this is about the upper bracket, the wealthy, who have all their paid surrogates, like Steve Moore, because he's paid by Steve Forbes and these guys, and the Larry Kudlow's of the world over at Murdoch, and Sean Hannity over at Murdoch, are all trying to defend the,
and it's just, it's mathematically doesn't work, guys.
Now, one of the reasons I'm saying doing this, and it has to be done, I want those people incentivized to cut spending.
Why are we not cutting spending?
Why is it so hard?
Because the wealthy don't want to cut spending.
Because they get a total free ride.
They have incredibly low tax structure.
Most of them have all types of protection, right?
Tax breaks on investments they do and other things they do.
So they're not really paying that.
And with more federal spending, you can see everywhere you go.
The university, it's all federal spending.
Look at the law firms.
The law firms sat there and he broke the law firms in 24 hours by including one line.
He said, well, we're taking security clearance away.
You're not going to be able to work on government contracts.
And, by the way, any clients you have that are identified, your identified clients will not be able to go for government contracts while you're retained.
Hello, we surrender.
We surrender.
Why? Because...
It's all at the government trough.
That's why spending doesn't decrease.
And they say, oh, it's entitlement.
It's a working class.
Get $1,000 a month from Social Security that they put in.
That's the worst, the biggest mortal sin in the world for these folks.
It's the trillion dollar defense budget.
I'm a hawk, but I'm a smart hawk about how we have to do it.
Not just this orgy of spending.
It's an orgy of spending we have everywhere.
We have to make cuts, and they're going to be tough.
The Medicaid cuts are going to be tough on MACA.
So, guys, if you can show me how we get to 6.5%, from 6.5% to 3.5%, because even 3.5% is not sustainable, but it's a start.
Show me how you get there without getting a little more, a little something into the coffer.
And politically, it's a no-brainer.
What they got wrong is the world has changed since back then.
Number one, Bush.
Gave a raise to the middle class and to the working class.
The world has changed.
The politics now, it's a no-brainer.
That's why people are in shock.
What are they talking about?
They're in shock.
Let's put up the Hill story.
If we can get that up, Denver.
Just put that up on the screen.
The Hill was the lead story today.
It was up almost all day.
People are absolutely in shock.
In the Bill Maher...
That was the post-game in HBO, and that's supposed to be kind of comedic.
They really want funny answers, but I didn't give a funny answer.
The audience gasped.
They're so shocked to think that the Republicans would do what has to be done.
And it is a profiling courage.
That has to be done.
And politically, it's a no-brainer.
And in addition, you've got to give these additional cuts.
There's all types of other things.
The interest, all this.
There's so many other things to be done to bolster the middle class and the working class.
And they say, oh, we pay the bulk of taxes anyway.
Of course you do.
We have the greatest concentration of wealth we've ever had in the country's history.
Of course you're going to pay more taxes.
I'm actually surprised you pay so little taxes.
The concentration of wealth in this country is unbelievable since the financial crisis of 2008 because they all bailed themselves out.
This is a no-brainer.
We're going to fight this one to the bitter end.
And go over Norcross and these guys, the no-tax pledge.
Hey, no-tax increases on the middle class and working class.
I'm 1 million percent down with that.
People are too big a tax burden.
But for the wealthy that have made out in this country, and yes, they're job creators, and we're not taking away from the work they did.
But no offense, it's not the end of the world.
It's a snapback from 37% to 39%.
I actually advocated this in 2017, and it would have been the smarter thing to do, but it was shot down.
Principally shot down by progressive Democrats in the White House.
Because guess what?
We did have progressive Democrats in the White House.
I had a failure to launch, but that's okay.
I'm not going to win them all, but I'll be back and I'm going to win some.
I'm going to win more and I lose.
We're going to win this one.
Because it makes compelling economic sense.
It makes compelling political sense.
And it happens to be the right thing to do.
You're going to have all types of things.
This is communism.
Republicans don't do that.
Well, hey, guess what?
This is why it's a new Republican Party.
What they're talking about, Steve Moore and Larry Kudlow and Arthur Laffer and Grover Norquist and Sean Hannity are from the land that time forgot.
They're from a different day and a different era.
And they represent the vested interest in this nation, right?
The wealthy.
And the wealthy have been irresponsible.
And we're in a financial crisis right now.
I don't need to tell that, but even if you're middle class, you have a nice job and you have a little money tucked away and some stocks.
What would happen if they walked in tomorrow, which they are, it's not with the zero probability and say, hey, you're out of here.
Boom. No severance, no salary, no nothing.
In the morning of the 101st day, if you don't have a job, or don't have a job near the salary, you're going to be in good shape?
I don't think so.
You're going to be nervous.
With all the work you did and all the education you put in and everything you did, you're going to be nervous.
Well, that's why we're here to make sure we rectify.
So this is happening.
Birch Gold, make sure that you understand, make sure you understand the process of how gold has gotten to all-time highs, okay?
Make sure that you understand that.
If you understand that, you're going to understand a lot.
Birchgold.com slash Bannon, the end of the dollar empire, gets you the full understanding of all of that.
The process.
The reason the world's central banks are buying gold at record rates.
Why is that?
Why is the Chinese Communist Party doing it?
You understand that?
You start to unbuckle the chains and get to your financial freedom.
Even before you buy any gold.
unidentified
But I think if you talk to Philip Patrick and the team, they'll set you right.
steve bannon ▲ ● ▼
Okay, we're going to be back here at a good Holy Thursday.
The services are going to start here shortly.
We will see you tomorrow morning on Good Friday at 10 a.m. Eastern Daylight Time.
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