Nov. 7, 2025 - Bannon's War Room
48:50
Participants
| 
| Speaker | Time | Text |
|---|---|---|
| This is the primal scream of a dying regime. | ||
| Pray for our enemies because we're going medieval on these people. | ||
| Here's not got a free shot on 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're trying to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big line? | ||
| MAGA Media. | ||
| I wish in my soul, I wish that any of these people had a conscience. | ||
| Ask yourself, what is my task and what is my purpose? | ||
| If that answer is to save my country, this country will be saved. | ||
|
unidentified
|
Waru, here's your host, Stephen K. Baff. | |
| Okay, welcome. | ||
| I can hear the audience now. | ||
| Steve, why no cold open? | ||
| Why don't we have Mooney Mika cringing over there? | ||
| Or whinging, I guess the word, whinging. | ||
| We're going to get to all that. | ||
| We're going to juggle a little today. | ||
| The reason is we've got some important folks with breaking news. | ||
| We're going to have the Secretary of Treasury Scott Besson is touring a magnet factory down in his home state of South Carolina. | ||
| As soon as we get the technical issues worked out, we're going to have the Secretary of Treasury and we're going to talk about the economy, particularly if you remember my mini rant yesterday about we made a bet on a supply-side tax cut, which is to drive capital investment and to drive production. | ||
| And where do we stand on that? | ||
| That bet can't be unwound. | ||
| So, you know, it's march or die. | ||
| I happen to think it's actually very smart, that aspect of it. | ||
| Of course, we wanted taxes raised on the wealthy. | ||
| But in that, we're also going to talk about this, as President Trump now calls it, the affordability, which is just, you know, inflation and cost and prices, things like that. | ||
| We're still of the belief until you get your hands around the deficits. | ||
| You've got deficits that are growing or deficits that add to the debt. | ||
| You have to continue to refinance it. | ||
| It's going to be a the reality is it's going to be a struggle. | ||
| Energy prices, they've done a magnificent job of getting energy prices down. | ||
| So anyway, the Secretary of Treasury will be here to answer all that. | ||
| Also, John Solomon's going to be up. | ||
| He's a little delayed. | ||
| I believe John's on Capitol Hill right now. | ||
| I think, I think we can announce, I think he put the story up, 30 subpoenas went out, criminal subpoenas on the grand conspiracy case. | ||
| Kash Patel just doing an incredible job to push this through the system when we're lacking lawyers. | ||
| It's just about bodies. | ||
| And this is not to point blaming anybody, but we got to, you know, you got to staff up. | ||
| You're just, these people are working 20 hours a day and just not staffed up enough. | ||
| But that whole aspect of it is starting to get revved up. | ||
| And so John's going to join us. | ||
| Also, shocking news. | ||
| Fulton County has basically taken the strongly worded letter about the 400,000 ballots and told Maine Justice to put it where the sun doesn't shine. | ||
| So I'm waiting for U.S. Marshals to be selected and a warrant, get a warrant, and go downseas. | ||
| We're going to get to all that. | ||
| Can we go ahead and play? | ||
| We got a short cold open for our former colleague, still our friend, but former colleague, the Secretary of Treasury Scott Besson, who's down in South Carolina. | ||
| Let's go ahead and play the clip. | ||
| I'm willing to go all the way with it and set people ablaze in this conversation. | ||
| But we should be at least at the start, not insane. | ||
| This is an off-year election in blue states. | ||
| There was built-in advantages for the Democrats that were running. | ||
| As for us missing messaging, I will take this and not put it on the consultant class. | ||
| I'll put this on the Treasury's Secretary. | ||
| Scott Besant, who wants to keep telling people that everything is going great. | ||
| It isn't. | ||
| It's not true. | ||
| It's not real. | ||
| And thank goodness I heard President Trump finally address this yesterday, a subject at least on radio we've been addressing for months. | ||
| Beef prices are out of control. | ||
| Egg prices are down. | ||
| Gas prices are down, but you still feel like everything costs too much. | ||
| Tariffs do increase the cost of things. | ||
| And the president may love the word tariff, the most beautiful word in the world. | ||
| It still costs us more, and we feel that it costs us more. | ||
| So the reality is you have to be addressing those concerns and explaining why you're engaged in tariffs, why these things are happening. | ||
| That's the stuff that matters. | ||
| You can't just say everything's fine. | ||
| That's Janet Yellen saying that inflation is nothing more than transitory, which was crap. | ||
| It was a lie. | ||
| It was a fraud. | ||
| And when you go down that road, you win the stupid prizes. | ||
| Okay, that's Tony Katz. | ||
| And remember, Tony is a talk radio host in Indianapolis, Indiana, in a standard stock, classic Republican. | ||
| This is why he doesn't want to blame the consulting class, who is a lot. | ||
| The whole thing about the campaign the other day was it wasn't that you lost in blue states. | ||
| We get that. | ||
| It was the scale of the loss and across the country and other these districts and quite frankly, state assemblies and other things that we had been shifting dramatically. | ||
| Trump, particularly New Jersey, it's points on the buy. | ||
| It was consulting class doing going back with Citrile talking about tax cuts and talking about size of government, just issues that are not top of mind right now with residents. | ||
| And of course, the disaster of Glenn Youngkin and the destruction of the Republican Party in the Comeworth, Virginia, which is 100% on his shoulders with terrible candidates. | ||
| No message, just a joke, and no effort. | ||
| But, and coach, you know, Tony, being a standard stock Republican, they hate tariffs, right? | ||
| Because they got this, they're the free trade part of the Republican Party that was kind of turfed out with President Trump in 2016. | ||
| So, Secretary Besson, you're down in South Carolina today. | ||
| You're touring a factory to show that about capital investment. | ||
| This is particularly of importance because it's related to magnets. | ||
| Can you tell us first what you're doing today and what we should look forward to about this? | ||
| And then we'll get into the Tony Katz of it all, sir. | ||
| Yeah, Steve, great to see you. | ||
| Great to be back on War Room. | ||
| And I got two things to show you. | ||
| One, this is, I'm going to be delivering to President Trump in the Oval Office when I get back. | ||
| This is the first magnet to come off this line here in Sumter, South Carolina. | ||
| And I will tell you, Sumter is real South Carolina. | ||
| Where I'm sitting now, this 500,000 square foot facility, which makes these magnets, and we'll come back to the importance of them, used to be a soybean field. | ||
| And, President, the tax policy has brought this home. | ||
| And not only these high-precision manufacturing jobs, this is national security. | ||
| We let China take control of the rare earths, the rare earth magnets. | ||
| Now they've got us in a chokehold. | ||
| And this facility here is the first step towards breaking that chokehold. | ||
| Later today, I'm going to be going to Boeing. | ||
| Boeing is going to do a gigantic expansion of their facility in North Charleston, South Carolina, where they make the Dreamliner. | ||
| President Trump has been going around the world doing these trade deals. | ||
| And he personally, I believe, has sold more than a thousand Boeing airplanes. | ||
| And these are great, high-paying manufacturing jobs for people in South Carolina. | ||
| And Steve, you know, I'll jump into it now. | ||
| Part of addressing the affordability crisis, they're too much. | ||
| No, no, hang on, hang on, hang on, hang on, hang on. | ||
| Hang on, hang on. | ||
| Let's not get ahead of ourselves. | ||
| I'm going to stick with because I want to go back to the importance and the centrality of magnets in our production process. | ||
| In the Chinese Communist Party, and these are smart, tough guys. | ||
| You had an interim agreement in June. | ||
| They kind of backed off that. | ||
| You were able to renegotiate in South Korea at one-year extension, because I don't think people realize our production lines would be shutting down in six or seven or eight weeks. | ||
| You were able to get that with President Trump using the leverage. | ||
| We already hear that the CCP is maybe not totally living up to that. | ||
| But talk to people about how absolutely urgent it is for us to get magnet production and other processed rare earths in the control of the United States of America for our sovereignty. | ||
| Well, Steve, it's a disgrace that this happened. | ||
| And the Chinese started with a plan in 1995. | ||
| They bought up a rare earth magnet facility. | ||
| They bought it from GM. | ||
| CIPIAS, the Committee on Foreign Investment in the U.S., said you got to keep the factory in the U.S. for five years, five years in a day. | ||
| They moved it into China. | ||
| They've accumulated all the rare earth assets in the world. | ||
| They have control about 70% of the mining, about 90% of the production. | ||
| This one German company managed to stay in business as the Chinese cut prices, tried to put them out of business. | ||
| And now they have stood up this beautiful 500,000 square foot facility in Sumter, South Carolina. | ||
| And for us to take control of our supply chain. | ||
| And Steve, these magnets are in everything, from fighter jets to iPhones to every car to every medical device to machines used for CAT scans. | ||
| And the Chinese used this as a big negotiating tool in April when President Trump raised the tariffs on them. | ||
| They tried to roll it out again on October 8th. | ||
| And Steve, this is against the entire Western world, not just against the U.S. | ||
| It's against Europe, Australia, Canada, U.K., Japan, Korea. | ||
| And through President Trump's leadership and facilities like this, we are going to take back leadership and end this choke point that they have on us. | ||
| Okay, this gets to the central part of capital investment, capital equipment that drives, you know, bringing things back. | ||
| The tariffs help companies like the Germans think, hey, let me build something in the United States. | ||
| We talked for years in the show when you were a contributor about this being the last shot for a supply-side tax cut. | ||
| I mean, we made a bet. | ||
| That bet was on a supply-side tax cut that focused on manufacturing and focused on bringing investment in capital equipment to return us, coupled with tariffs, to return us to be the manufacturing superpower we are. | ||
| And I want to get to affordability in a second, but the more important thing than even affordability is jobs and growth. | ||
| Is the supply-side tax cut as you envisioned it and executed for President Trump? | ||
| Do you believe it's working right now? | ||
| Do you see it kicking in? | ||
| And is it going to hit the targets on growth that you had anticipated, sir? | ||
| So, Steve, let's take three parts here. | ||
| First, national security. | ||
| National security is economic security. | ||
| So without economic security, we don't have any of that. | ||
| And there is an industrial planning aspect here that this administration, President Trump came in, he signed an executive order on rare earths right at the beginning, right in the first few days. | ||
| And that these magnets are now coming off the line. | ||
| Two, the tariffs. | ||
| The tariffs, the revenue is great, but I have described the revenue as a shrinking ice cube in terms of the tariff income because what would happen, the goal is to rebalance global trade, that the U.S. became free trade was not fair trade. | ||
| We want to get fair trade back. | ||
| President Trump's used the tariffs. | ||
| Right now, the tariff income is very substantial. | ||
| Over time, what will happen is as we reshore the factories, tariff income will go down. | ||
| And from facilities like this and companies like this, the income tax receipts and the payroll receipts from these high-paying jobs will go up. | ||
| So, you know, a successful tariff regime results in reshoring and better balance. | ||
| So that is by definition lower tariffs. | ||
| And then the third part of that was, as you talked about, the tax bill, which has immediate expensing for factories, immediate expensing for equipment. | ||
| So we are making the U.S. the best place to build your factory. | ||
| It is energy dominance. | ||
| We want to have secure, cheap energy. | ||
| And then the third part is deregulation because we had gotten out of the ability to build things in the United States. | ||
| I had an hour-long meeting with the management here beforehand, and I said, why are we sitting in a former soybean field in Sumter, South Carolina? | ||
| And they said, you know, Governor Henry McMaster and his team got us all the permits in eight weeks. | ||
| In eight weeks. | ||
| And Steve, I'm walking through the factory talking to the workers here. | ||
| Many of them had been seven to 15 years at a Caterpillar factory that had closed, probably because the foreign competitors undercut them. | ||
| And now they're here. | ||
| There are 800 construction jobs here. | ||
| They're going to be 300 full-time jobs. | ||
| But then the owners of this factory think that that could go up six to ten times. | ||
| And I tell you, Sumter is real South Carolina. | ||
| It is not fancy Charleston. | ||
| It is not the mountains. | ||
| This is God. | ||
| Mr. Secretary, hang on for one second. | ||
| We'll hold you to a short commercial break. | ||
| The Secretary, Treasury, Scott Besson, on the economic plan of the Trump administration. | ||
|
unidentified
|
Next. | |
| Hell America's Voice family. | ||
| Are you on Getter yet? | ||
|
unidentified
|
No. | |
| What are you waiting for? | ||
| It's free. | ||
| It's uncensored. | ||
| And it's where all the biggest voices in conservative media are speaking out. | ||
| Download the Getter app right now. | ||
| It's totally free. | ||
| It's where I put up exclusively all of my content 24 hours a day. | ||
| You want to know what Steve Bannon's thinking? | ||
| Go to Getter. | ||
|
unidentified
|
That's right. | |
| You can follow all of your favorites. | ||
| Steve Bannon, Charlie Poke, Jack the Soviet, and so many more. | ||
| Download the Getter app now, sign up for free, and be part of the new thing. | ||
| Mr. Secretary, just mention the phrase Gamecock, and this being old in real South Carolina. | ||
| I think particularly for the vast new audience that's joined us over the last six to nine months, may not be that familiar with your background because you come across as either so professorial as a professor in the finance department, economics department at Yale, or a Wall Street capital markets guy. | ||
| What is your background in South Carolina, sir? | ||
| Steve, my family, they came here over 300, where are we now, 370 years ago? | ||
| We've been around a long time. | ||
| I ended up in Little River, South Carolina when I was a kid, fishing village, 500 people. | ||
| Now it's part of Greater Myrtle Beach. | ||
| And as you know, South Carolina is now the number one state for new arrivals on a percentage basis. | ||
| Everybody wants to move here because it gets to affordability. | ||
| Housing, the zoning is not crazy. | ||
| There are high-paying jobs, and we're seeing factories like this. | ||
| So it's an honor to be back here, having kind of done the full loop, left South Carolina, gone to school at Yale, been in Wall Street, honored to serve President Trump's cabinet and to be part to see this reindustrialization here. | ||
| When I heard the irony that you've led this fight and warned the nation about the centrality of rare earth processing, because so much of it is just dirt, but you get the processing in the heavy rare earth, you know, the deal you're doing with Australia and things about Brazil, you get the magnets and the first opportunity we have is in your native state. | ||
| Talk to me, because here's one of the things we're trying to do at the war room is make sure people can see the manifestation of these policies because sometimes the policy discussions get so esoteric that you can actually see the manifestation in plant and equipment and capital and in workers with high-paying jobs. | ||
| Talk to me about Boeing. | ||
| You're going to go over to Boeing this afternoon. | ||
| First off, why does Boeing, Boeing is, I don't care if they're headquartered in Chicago now, but they're from the Pacific Northwest. | ||
| They've been a Seattle and Pacific Northwest company, I think, forever. | ||
| What in the hell are they doing in South Carolina? | ||
| They built their second biggest facility in South Carolina. | ||
| They're going to be expanding it. | ||
| I believe they have 8,500 jobs there now. | ||
| Expansion is going to result in 1,000 new jobs. | ||
| It's the Dreamwinders. | ||
| They do a lot of the painting of the airplanes, the interiors. | ||
| And again, Steve, this is exactly what the goal has been of President Trump's trade policy to bring precision manufacturing, high-paying factory jobs back to the United States. | ||
| We need to be able to make things. | ||
| You can't have a research process that is separated from the manufacturing process. | ||
| You learn things in the manufacturing process. | ||
| I tell you, walking around this factory today, this is super impressive. | ||
| And they sent these folks. | ||
| I was talking to many of the workers. | ||
| Many of them had never been out of the country before. | ||
| I think they said 10% of them never been out in an airplane. | ||
| They were flown over to Germany, did a 12-week apprenticeship program. | ||
| And now here they are. | ||
| And these are, like I said, high-paying jobs. | ||
| And the size of this facility may go up 10X. | ||
| You know, Tom Peters wrote that amazing book back in the 90s that became really the Bible for so many companies called In Search of Excellence. | ||
| And it went back to the beginning of Silicon Valley and why American was a tech superpower. | ||
| It was called management by wandering around, that you had to have research. | ||
| You had to have R ⁇ D right next to the manufacturing facility because you had to be a managers and particularly the guys working over the development had to be able to go. | ||
| And this is the core of America's greatness. | ||
| You had to be going to the shop and you had to kind of fool around with things. | ||
| That's American greatness right there. | ||
| Talk to me because people lose the kind of plot here. | ||
| I want to go back to the supply-side tax cut. | ||
| Why that's focused on capital and bringing capital back? | ||
| And you kept making the argument, we got one more shot to do this. | ||
| We got to do it now. | ||
| Coupled with the trade policies and deregulation, that's mega economics, right? | ||
| And it's focused on getting the economy growing again after the hit on the pandemic. | ||
| And of course, the fiasco of the Biden years, sir. | ||
| So, Steve, whenever you have capital expenditures, jobs always follow. | ||
| Jobs always follow. | ||
| So, we are going to see this CapEx boom. | ||
| And again, this magnets facility here, there were 800, and it's still continuing. | ||
| There are 800 construction jobs going on as they're building. | ||
| Those will keep going as this facility gets six, eight times bigger. | ||
| And every line they add is 300 permanent jobs. | ||
| So, I just think we are at the beginning of this liftoff. | ||
| I wish that we could have thrown a switch and the jobs and the manufacturing would have come right back. | ||
| It is a process. | ||
| We didn't get here overnight, but I can tell you that your friend there who criticized me that you can be optimistic about the future. | ||
| The house got burned down and it takes a while to rebuild it. | ||
| And we are rebuilding it from the foundation up. | ||
| The foundation of this, the concrete that report was this tax deal. | ||
| So, we've got the foundation, and now we are starting to rebuild our economy. | ||
| And one of the answers to this affordability crisis, you know, there are two parts to it. | ||
| Part of it is stopping the price increases, bringing the prices down where you can for things like gasoline, like certain foods. | ||
| But then, on the other hand, the real home run is real wage increases, which we saw under President Trump's first term. | ||
| You know, our hourly workers did better than supervisory workers. | ||
| The bottom 50% of households, net worth went up faster than the 10%. | ||
| And look, the Wall Street Journal can take a shot at me when I talk about Main Street prosperity. | ||
| But, you know, I call it parallel prosperity. | ||
| Wall Street has done well, exceeded everyone's expectations. | ||
| And, you know, it's called the Wall Street Journal for a reason, not the Main Street Journal. | ||
| And, you know, they don't want everyone to have a fair shot. | ||
| Part of the deregulation that we've done at Treasury is to help small banks. | ||
| We've lost half of our small banks since the GFC. | ||
| You know what? | ||
| Small banks finance 70% of agriculture, 40% of small business, 40% of real estate. | ||
| They're your neighbors. | ||
| They work on a handshake. | ||
| It doesn't have to go back to the head office in New York or Charlotte. | ||
| So this is a Main Street revival. | ||
| And I think we are right in the liftoff phase. | ||
| And I don't blame people for being mad. | ||
| I don't blame them for being mad after what's happened. | ||
| And we are moving as fast as we can on this. | ||
| I want to go back to CapEx for a second. | ||
| Particularly, people don't know, most people don't know, that when you were coming up in being a Vunderkin in high school, your competitor kind of statewide for being a big brain was Ben Bernanke. | ||
| And Ben Bernanke went to Princeton as a scholarship student. | ||
| You went to Yale as a scholarship student. | ||
| And then he became head of the Fed. | ||
| You went to Wall Street and became a capital markets guy, a hedge fund manager. | ||
| I'll also point out he worked as a waiter wearing a sombrero similar to the one that Hakeem Jeffries and Chuck Schumer wear. | ||
| He worked at South of the Border. | ||
| I was a liker of the beach and Myrtle Bean. | ||
|
unidentified
|
So we took separate paths. | |
| By the way, if you've been on Interstate 95, everybody knows about South of the Border, American Classic. | ||
| This issue of CapEx, particularly there seems to be, you know, there's this rush to AI. | ||
| Everything's got to be AI. | ||
| We had an analysis on yesterday, I think 40,000 times has been mentioned on earning calls. | ||
| It's like the dot-com. | ||
| Everybody's got to say AI. | ||
| But there was a very disturbing kind of interview with the CFO of OpenAI where she mentioned at the very top of her interview, hey, you know, we're going to set up an ecosystem of private equity, hedge funds, banks. | ||
| And oh, by the way, the government will have a role as far as government loan guarantees. | ||
| Of course, our heads blew up here. | ||
| And David Sachs did jump in and said it's not going to be a part. | ||
| Just from Treasury's perspective, we don't really have a role. | ||
| I realize the Chinese do it different, but that's why we just got to cut them off from the chips. | ||
| There's no, the American people, the Gamecocks down there in Sumter, South Carolina are not going to be given loan guarantees for Elon Musk and this guy. | ||
| Now he's got a trillion-dollar pay package, sir. | ||
| No, Steve, they're not going to be loan guarantees. | ||
| The difference between American AI and Chinese AI is that this is the private sector on its own unleashed. | ||
| People will succeed. | ||
| People will fail. | ||
| And the great thing here is a lot of this is being led by the hyperscalers, Google, Microsoft, Amazon, Oracle. | ||
| And those are the richest companies in the world. | ||
| So they don't need government subsidies. | ||
| They don't need the loan guarantees. | ||
| And they're borrowing, some of them borrowed $25, $30 billion in the past couple of weeks in the capital markets. | ||
| So no one has to worry about that. | ||
| Mr. Secretary, I know you got to bounce. | ||
| I just need you for two minutes on the other side. | ||
| I just want to address one more time the affordability. | ||
| As President Trump refers to it now, the affordability. | ||
| The Trump administration has been taking a heavy axe of that. | ||
| We're going to find out the details next with the Secretary of Treasury, Scott Besson, down at a magnet factory that's now launching in Sumter, South Carolina, Gamecock country. | ||
| Short commercial break. | ||
| We'll be back in a moment. | ||
|
unidentified
|
Here's your host, Stephen K. Bannon. | |
| Mr. Secretary, in Tony Katz's shot at you, one of the central parts of his argument, and this is why I wanted to keep you over and just take a couple of minutes. | ||
| Because this is still, as you know, particularly among the Wall Street Journal and the elites in the Republican Party, this is going back, I call it from a time that, or land that time forgot. | ||
| One of the central things about affordability, he's saying that President Trump's redoing of global commerce as personified by his use of tariffs is central to the affordability issue. | ||
| Do you see it that way? | ||
| And can you break it down for us why that's not the case? | ||
| Yeah, look, it is, you know, never let facts get in the way of a good story. | ||
| He seems like he's part of the Mike Pence Let Him Eat Flat Screens crew, where we exported good jobs and cheap baubles got sent in. | ||
| The real affordability that people care about is owning a home, being able to make car payments, the food. | ||
| None of that has anything to do with tariffs, Steve. | ||
| If you look, the increase in prices has been in service inflation. | ||
| And again, that government jobs or service sector jobs do not result in real long-term wage growth. | ||
| Real long-term wage growth results from working at factories like I am here right now, moving up the chain and having the pricing. | ||
| When your company has pricing room, then they are able to give you the substantial wage growth and you're able to get a promotion and become a skilled worker. | ||
| Because as I said, I couldn't have been more impressed by the folks here from Sumter, South Carolina, who were over in Germany training. | ||
| And now they're back here. | ||
| And they're excited. | ||
| This is a great facility. | ||
| And again, the one thing that I will agree with him on is that we are approaching, the Trump administration is approaching affordability head-on. | ||
| The Biden administration and the mainstream media, and I said it on your show for a year during the campaign, gaslighted America. | ||
| They said it was a biopsy that wasn't happening. | ||
| Well, we know it's happened. | ||
| And as I said, that if I could snap my fingers and fix affordability, we would. | ||
| But we are laying the groundwork over the next three, six, nine, 12 months, and before the end of the president's term to get working Americans back with real wage growth. | ||
| So it's wage growth and stopping the inflation and bringing prices down where we can. | ||
| And Steve, you mentioned the elections, that a lot of the elections in New Jersey, a lot of it was energy prices that Governor Phil Murphy had put into place. | ||
| It was this misplaced green energy that caused prices to skyrocket 20%. | ||
| This administration, Secretary Bergham, Wright, even President Trump has been on the phone with the governor of New York, Kathy Hochul. | ||
| Let us put two pipelines through New York and we can lower your energy cost. | ||
| We can lower energy costs in New England and they won't do it. | ||
| So at Treasury, we're actually going to go through state by state and see where the inflation is because there are some things that this administration can control, but we can't control the crazy things that states do in terms of energy pricing or over-regulation. | ||
| Why is South Carolina the leading recipient of inbound immigration for Americans as a percent of the population because Governor McMaster is open for business? | ||
| This plant here was permitted in eight weeks. | ||
| So, if you want to build things, if you want to create jobs, then you can do it. | ||
| But there are the blue states out there who are recalcitrant. | ||
| To make it even worse, and I want to make two more points. | ||
| To make it even worse, many parts of the tax bill that were President Trump's signature working class pieces of the tax bill, no tax on tips, no tax on overtime, no tax on Social Security, auto-deductibility. | ||
| If you buy an American car, many of the blue states are not going to include that in their state taxes. | ||
| They do not, because they have such Trump derangement syndrome, they want to hurt their own people to keep them from doing well because those were President Trump's signature policies. | ||
| Steve, as you know, I am also the IRS commissioner, so I can see the data. | ||
| What we are going to see here, and maybe this will calm that maniac down a little, is that there are going to be substantial tax refunds to working Americans because everything the One Big Beautiful bill did on July 4th is retroactive. | ||
| People have not changed their withholding for 2025. | ||
| So, we're going to see substantial refunds to working families in the first quarter of 2026. | ||
| Everyone will adjust their withholding on January 1st. | ||
| And so, anyone who gets tips does overtime gets Social Security or has auto-deductibility, those wages will jump up automatically. | ||
| So, think about the first quarter of this year: $1,000, $2,000 refunds per household, plus all those working-class tax benefits kicking in. | ||
| That's why I'm optimistic. | ||
| Are you one of the theories of the case here underlines this? | ||
| It was President Trump, and this was the first term too. | ||
| And you mentioned by 2019, fall and winter was blue-collar wages rising faster than white-collar wages, and non-college graduates faster than college graduates. | ||
| It was extraordinary for working-class people. | ||
| Are you and President Trump comfortable with the full-spectrum energy dominance? | ||
| Are you there yet as far as other things you're going to do on energy? | ||
| We're working as hard as we can, but Steve, a big part of it is energy transport because the two sides, we talked a little about the AI data center, and the other side is their use of power. | ||
| And to anytime you cross a state line in the U.S., unless it's kind of red state to red state, things can get a little dicey. | ||
| And as I mentioned, I was at this AI summit in Pittsburgh, and Pittsburgh is going to be one of the AI hubs of the U.S. | ||
| And that's because of the energy, the Marcellus and all the energy resources that are in Pennsylvania. | ||
| The Pennsylvania lets them be exploited right across the border where Pennsylvania and New York meet. | ||
| New York is impoverished energy-wise. | ||
| So we are doing what we can, but many of these states are a problem. | ||
| Yeah, I don't, and I don't think, particularly the campaign, we've had Dave Walsh on here now for three years talking about how some of this green new scam, the net zero carbon that deindustrialized Germany, was done in states like New Jersey, right? | ||
| And just we didn't they didn't stick to landing on making sure they understand that the Democrat, radical Democrats did this. | ||
| Mr. Secretary, we've taken too much of your time. | ||
| We really appreciate it. | ||
| I know you're busy today. | ||
| Make sure you say hi to the folks, all the working folks up there, the Gamecocks and Boeing, and also down at the Magnet Factory. | ||
| Really appreciate you, sir. | ||
| Where can people go? | ||
| I know you have the number one comms team in the entire government. | ||
| Where do people go to get all your latest thinking in your content, sir? | ||
| I have an ex-account at Treasury, and then Treasury also runs an X account. | ||
| And we're very, very active every day. | ||
| And Steve, I will go back to my third grade. | ||
| South Carolina is one of two states that still teaches state history, South Carolina and Texas. | ||
| I will go back to my third grade South Carolina state history, and I will tell you the reason the University of South Carolina is called the Gamecocks is because General Sumter, we're sitting in Sumter, South Carolina, was called the fighting Gamecock because he was so tough. | ||
| So a little history, a little economics. | ||
| Great to see you on the war room crowd. | ||
| Yes, sir. | ||
| Thank you. | ||
| The posse loves you. | ||
| So keep fighting. | ||
| Thank you, sir. | ||
| Appreciate you. | ||
| Thank you. | ||
| This, the American economy and the global economy, obviously, I don't need to state the obvious, but I will. | ||
| Enormously complex. | ||
| And here you took a shot at really the last shot to really use kind of Reagan-esque, the one part of Reagan, you know, the Reagan-esque supply-side tax cut, focus on capital, because capital is essential to becoming a man or returning to be a manufacturing superpower. | ||
| One of the central tenets of the MAGA movement: to return America to her greatness, you must stop the bleeding of shipping high-quality jobs out to basically lower labor cost areas, East Asia and South Asia, particularly. | ||
| And this is why some Central America and Latin America bought principally that. | ||
| This is why now the Frankenstein monster that Wall Street, the corporatists, and big tech created, the Chinese Communist Party, become a manufacturing superpower, was done by our elites. | ||
| This is what led to the managed decline. | ||
| This was the managed decline of this nation in the rise of the Chinese Communist Party in a form of state capitalism. | ||
| And this is what the United States and the way it's governed is kind of evolved to. | ||
| The Chinese Communist Party did not become an open democracy based on freedom, based on liberty, based on free speech, religious, all that exact opposite. | ||
| More and more controlled by state capitalism and an authoritarian government. | ||
| This is what you saw, you saw it manifested in the Biden regime, the illegitimate Biden regime, I might add. | ||
| Illegitimate? | ||
| Why is the Biden regime illegitimate? | ||
| Because they stole the 2020 election. | ||
| We're never backing off that. | ||
| And if you don't believe that, then you actually don't believe one of the core tenets of the MAGA movement. | ||
| I'm sorry. | ||
| I'm sorry if I'm hurting the feelings of people, some of the people watching in. | ||
| It's just not. | ||
| This is why the damage done during those four years is monumental. | ||
| President Trump had enough to clean up given the fiascos of Bush, Clinton, Bush, and Obama. | ||
| That was to kind of stop the decline or to try to put a tourniquet on it. | ||
| Then after the pandemic that was hit, that delivered by the Chinese Communist Party, coupled with the summer of love and the stolen election of 2020 in the four years of an illegitimate regime. | ||
| How do we know it's illegitimate? | ||
| Because you couldn't certify all the stolen ballots that they did, and 400,000 of them are sitting down in a warehouse in Georgia, and we're still sending strongly worded letters. | ||
| And Fulton County came back, and I'm so glad they did it. | ||
| They said, hey, take your letter and put it where the sun doesn't shine. | ||
| So, Justice, hey, I got a solution. | ||
| I'm just tossing it out there. | ||
| Just get yourself a couple of U.S. Marshals, couple of three U.S. Marshals, get a warrant, and go down and seize it. | ||
| You're the Justice Department. | ||
| You don't need to send any more strongly worded letters. | ||
| You don't need to go back into court. | ||
| You don't need to do any of it. | ||
| The Trump economic plan is working. | ||
| I think people have to be, we have to do a better job of saying, hey, here's what the plan is. | ||
| Here's what's happening with it. | ||
| Here's what's working with it. | ||
| And it's in jeopardy, big time. | ||
| I'll talk about that after a short commercial break. | ||
|
unidentified
|
Here's your host, Stephen K. Battle. | |
| Take your phone out. | ||
| Birch Gold. | ||
| Text Bannon, B-A-N-N-O-N at Birch Gold 989898. | ||
| So that's Bannon at 989898. | ||
| Get the ultimate guide for investing in gold and precious metals in the age of Trump, particularly 401ks, IRAs, how you roll them over, tax deferred, tax delayed, all of it. | ||
| They got all the details. | ||
| Go check it out today. | ||
| They also get you up to speed and teach you about physical gold and why it's been a hedge for 5,000 years of man's history. | ||
| Looking where markets are right now, maybe come a pretty big hedge now and in the future. | ||
| Senator Tuberville is with us. | ||
| Senator, thank you for carving out time today. | ||
| You're a pretty strict guy on tradition and custom. | ||
| You're a pretty strict guy on the Constitution. | ||
| You're now, because you're much more action-oriented. | ||
| You're running for governor of Alabama. | ||
| And as we know here in our audience, you'd be an amazing governor of Alabama. | ||
| But this issue of the filibuster, talk to me about it because you're one of the leading voices now. | ||
| And the president's adamant about this. | ||
| And I take it this breakfast did not end too well the other day. | ||
| But talk to us about why a guy like Tommy Tuberville, who's a traditionalist, who believes in customs and traditions and the Constitution, why would you be one of the leading voices and saying we got to junk the filibuster and we got to do it now? | ||
| Well, thank you. | ||
| See, first of all, it's not the Constitution. | ||
| And I am a Constitutionalist. | ||
| I believe in this country. | ||
| That's the reason I ran for this job. | ||
| I didn't need this job, but I saw the direction we were going. | ||
| I wanted to come up and put my two cents worth in, Steve. | ||
| And my dad died in the military, was landed at Normandy at the age of 17. | ||
| He loved this country. | ||
| He taught us to love this country. | ||
| So it's time to get back. | ||
| But at the end of the day, this week, yesterday, the Democrats draw a line in the sand. | ||
| The hell with American people. | ||
| We're for our party. | ||
| We got a bump in the polls the other day because of the blue states actually won races that they should have won. | ||
| And, you know, you look at it and the American people are suffering. | ||
| You know, military personnel, government workers, some that don't need to be in the government, some that do. | ||
| Obviously, people that need food stamps, air traffic controllers. | ||
| I mean, we're making it more dangerous. | ||
| We've got to have common sense here, Steve. | ||
| We have got to understand what the Democrats are doing. | ||
| They're playing four corners of basketball against President Trump. | ||
| They know he's only got three more years. | ||
| Every day that they stall to allow him to get something done is hurting the American people. | ||
| 77 million people voted for President Trump to change this country back to the way it was. | ||
| But we're not going to be allowed to do that because it takes 60 votes. | ||
| We're not going to get one vote out of the Democrats. | ||
| They've drawn a long line in the sand. | ||
| It's over with. | ||
| Now we've got to decide. | ||
| We're boxing a corner. | ||
| Are we going to do away with the filibuster and get everything done from MAGA for the next three years? | ||
| Or are we going to just sit back and say, okay, nothing's done. | ||
| You know, we're not going to vote for 51 votes to have no melon ballots. | ||
| You've got to have a valid ID for to vote. | ||
| You've got to have all those things. | ||
| We can do that with 51 votes if we bust the filibuster. | ||
| But we're dead in the water if we don't make a decision. | ||
| Because who's getting blamed now? | ||
| We are. | ||
| The Republicans, because we are in the majority. | ||
| Let's take advantage of it. | ||
| Are you an underlying conviction of yours and the president is that the Democrats are going to do this immediately? | ||
| Because one of the fears is that if you do this, you've opened the path for Washington, D.C. as a state, Puerto Rico as a state, 20 judges on the Supreme Court, all of that. | ||
| Are you guys convinced that the Democrats are going to do this anyway? | ||
| And that's why you want to be preemptive? | ||
| Oh, 100%. | ||
| You know, I talked to Joe Manchin and I talked a whole lot when he was here, Christia Sinema. | ||
| They saved us. | ||
| They saved us from that happening just a few years ago. | ||
| They're gone. | ||
| They've got radicals back on their side. | ||
| They've got enough to get it done. | ||
| So what they're going to do is they're just going to wait us out. | ||
| And when they take over, you know, it looks like for us as Republicans, you know, we just want the majority. | ||
| We don't want to do anything when we get it, but we want it. | ||
| And that's the wrong way to look at it. | ||
| They elected us, not as senators, as a Senate to look at power. | ||
| They looked at the Senate to do something for the American people and President Trump. | ||
| And again, as President Trump says, folks, they're going to vote it in the first day they take over. | ||
| And it is coming. | ||
| And if we don't take advantage of it right now, we have no chance of winning. | ||
| We might win the Senate or we might win the House. | ||
| We might even win the presidency next time the presidency's up. | ||
| But we're not going to have all three of them. | ||
| And so we're not going to be able to get anything done. | ||
| They'll push things through on executive orders. | ||
| They'll do everything they possibly can to bust the filibuster. | ||
| So again, I'm a traditionalist and I come up here 60 votes. | ||
| Hey, that sounded great. | ||
| But we're in a different country, Steve. | ||
| This is a different time. | ||
| We just saw what happened in New York. | ||
| We lost New York. | ||
| It will be completely Muslim in three or four years. | ||
| That's what they want. | ||
| They're going to have everything free there for them. | ||
| And they're just going to spread throughout the country. | ||
| We better wake up and smell the roses. | ||
| And the Democrats in this is an example of this in the negotiations even to reopen the government that the Schumer and team have shut down. | ||
| They're not moving at all on this trillion dollars that would need to be spent on illegal alien health care, correct? | ||
| I just want people to understand this. | ||
| Everything they've got is about illegal aliens or bringing in foreigners now and turn them into Americans in like two weeks and let them vote. | ||
| This is what happened in New York. | ||
| Are they showing any sign that they would ever pull that out of these negotiations? | ||
| No, I tell you that that's all they're looking for. | ||
| They're just looking for power. | ||
| They're looking for votes in every possible way they can get it. | ||
| And again, it's just we'll be back to globalization as soon as they get power. | ||
| They'll open up the borders again. | ||
| President Trump's trying his best and has done a great job with that. | ||
| And so is Christy Noam and all the people in Homeland Security. | ||
| But again, we're fighting with a short stick here because the American people, they want to be taken care of too. | ||
| And we're not taking care of them right now. | ||
| And, you know, we've ruined our health care. | ||
| We've ruined our education system. | ||
| Anything we touch, like the air traffic controllers, the TSA, anything out there, the government has ruined it. | ||
| You know, we don't need to be in air traffic controllers. | ||
| And President Trump really wants to sell it. | ||
| He wants to get out of it. | ||
| But we've got to redo it because when you put something under the federal government, you don't fund it completely. | ||
| And that's what's happened with this antiquated equipment we have in the air traffic controllers. | ||
| And so who in hell would want to buy it now? | ||
| Who would want to privatize that? | ||
| So we've got to get it back up to speed. | ||
| Secretary Duffy knows that. | ||
| And then sell the dang thing, get it out of the federal government. | ||
| We can't afford to keep it going. | ||
| We're growing too much. | ||
| So there's a lot of the things that the government does. | ||
| Just hang on for one sec. | ||
| Just hang on one second. | ||
|
unidentified
|
We'll take a very short, like 120-second commercial brief. |
Export Selection