President Trump has successfully moved the Overton window.
We explain in phenomenal detail exactly what that means.
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Charlie, what you've done is incredible here.
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Tomorrow is Independence Day, and it looks as if we are going to have a wonderful Independence Day in this country.
As you can see in the picture in picture, we have Hakeem the Dream Jeffries going on.
He's doing some sort of house equivalent of a filibuster.
It's not going to work.
The House of Representatives worked long through the night to officially pass the rule, and the final vote should be coming up today to pass the big, beautiful bill.
And here's what's so amazing about what Hakeem the Dream is doing is that there are so many elements of the bill that I forgot about.
I'm learning so much about this bill thanks to Hakeem.
You see, having our enemies recite the bill back to us about all the terrible thing that it's going to do for deportations and planned parents, I'm like, my goodness, this is much better than I realized.
I mean, I knew that it was pretty good.
I knew that it was about 80 to 90% of the pie, but now I'm getting up to that 95% figure.
Late last night, around 1 a.m.
Eastern, I was on the phone with members of Congress, some of the holdouts, some of the holdouts.
I said, guys, what are you doing here?
I said, it's 1 a.m.
Eastern.
Thankfully, I have West Coast Advantage.
This is one of the great things about being on Pacific time is that being three hours behind, it's like only 10 p.m., which is a little past my bedtime.
But I stayed up a little bit later to try to help however I could contribute to the fight.
And I was talking to some of the holdouts.
I said, look, guys, I'm fans of all of you.
I'm a fiscal hawk.
We need to balance our budget.
But what is the concern here?
Because if you guys change this bill and it goes back to the Senate, it very well might die in the halls of Lisa Murkowski and Susan Collins.
So what is the objection here?
And finally, we got to a place where they said, well, we're going to go vote for it.
We need to try to just get some horse trading done.
I said, fine, there's no issue with that.
And that's exactly what ended up happening late into the evening.
And now, Hakeem, he's getting a little upset.
Hakeem is now doing a non-stop type filibuster.
But honestly, he's doing the PR for all of us.
He is now our public relations official.
He is going element by element of the bill, bragging about how it's going to be the largest deportation army the country has ever seen, talking about how this is going to cut taxes for working people.
No tax on tips, no tax on overtime, no tax on Social Security, the largest working class tax cut in American history.
The border will be completely and totally fortified.
We're going to have a golden dome.
Remember the Trump baby accounts, the baby bonus accounts for investment accounts.
Every new baby born will get a $1,000 investment account, one-way Dropbox that will not be able to be accessed by anybody and not accessed until they're 18 years old.
And billionaires, financiers, aunts, uncles, moms, dads, grandfathers, schools, competitions, sporty teams can contribute into that investment account and it will grow throughout their life so that we are creating an economy of owners.
And then one thing that I'm extremely passionate about, Republicans have long talked about defunding Planned Parenthood.
But guess what?
It's happening.
Planned Parenthood is getting their funding shut.
It's only for a year, but it's still a victory.
It's only for a year, but that still is going to completely derail the funding mechanism of Planned Parenthood.
And we need to make sure that this is a continually thing.
Planned Parenthood is a Democrat super PAC.
Regardless of your opinions on abortion, they ran ads against Donald Trump.
They engage in political advocacy against Republicans.
We are financing a multi-hundred million dollar Democrat super PAC.
Not to mention they lie about all of the health care nonsense.
They are an extension of the DNC.
Period.
Hard stop.
Play cut 435, Hakeem the Dream, he is very upset about the cutting of Planned Parenthood.
Play Cut 435.
All out assault on the care.
Mr. Speaker, being provided By Planned Parenthood, the medical care being provided by Planned Parenthood.
He is dollar store Obama.
I'll tell you what.
This guy, you could buy him at a discount.
He's not even good at this.
Another tweet this morning from a guy by the name of Ian Bremer.
I don't know really where he's from, but his tweets get a lot of attention.
It's phenomenal.
How big of a deal is the ICE investment?
The Big Beautiful bill passing would make the budget for ICE larger than most of the world's militaries.
ICE will be a larger standing army as far as budget than the Israeli military, than the Italian military, than the Dutch military, and the Brazilian military.
Let me just comment on something.
If Israel only spends $30 billion in their military and they're able to get that kind of precision, they're much more efficient with the money that they spend than we spend a trillion dollars.
I'm just saying.
Anyway, that's a whole side note.
I'm kind of impressed that Israel only spends $30 billion a year on their military compared to what America spends.
We spend a trillion dollars and we got a lot of waste there, but we have to, we're going to fix that at a different juncture.
ICE will now be one of the largest standing military forces in the world.
And if that bothers you, then you are probably an illegal alien.
If that bothers you, you're probably harboring illegal aliens.
If that bothers you, you're probably employing illegal aliens.
You probably run a restaurant, a farm, a meat packing facility.
You probably employ those that should not be here, and you are breaking federal law, and your employees are breaking federal law.
8 USC 1312, 8 USC 1350, harboring illegal aliens, not notifying the government of where you are, why you are here.
And now ICE will finally have the thrust, it will have the gusto to be able to reverse the invasion.
Do you understand how hard it is to reverse a domestic invasion?
We are embarking on one of the most difficult, challenging, ambitious, and daunting domestic policy projects in American history.
Forget the Hoover Dam.
Forget going to the moon.
Forget the Adam bomb, the Manhattan Project.
This is far more daunting.
You are talking about removing human beings that Democrats have allowed to attach themselves to the social welfare state.
This is one of the most daunting and ambitious public policy projects in the history of the country.
And we're going to get it done.
Here is Dollar Store Obama 437 saying a deportation machine will be unleashed on steroids.
You better believe it.
This is what we voted for.
This is what we need.
This, again, of all the major accomplishments that America should be proud of, Panama Canal, Louisiana Purchase, Hoover Dam, the highway system, this is going to go up there.
When we are done and we have Project 10 million, we could say that we remove 10 million people from the country, plus self-deportations, it will go down as one of the most remarkable and significant projects in history.
Play Cut 437.
Speaker, that's not what this country should be all about.
Manu wasn't the only one, the only American citizen who's been targeted by the deportation machine, a deportation machine that will be unleashed on steroids by this one big, ugly bill.
We know that, in fact, is the case.
That's not hyperbole.
It's not hyperbole.
It is reality.
Hakeem Jeffries is doing the PR for this bill for us.
And if we are serious about reclaiming the country and fulfilling the mandate and fulfilling the agenda, then this bill absolutely must pass.
And it will pass in the coming hours.
Is it perfect?
No.
Does it cut enough spending?
No.
Does it still have some green new scam elements in it?
Unfortunately, yes.
Does it spend too much on projects we shouldn't?
In some places, no.
Yes.
In some places, yes.
But on the tax cuts, the Trump baby accounts, the defunding of Planned Parenthood, most of the repealing of the Inflation Reduction Act, the working class tax cut, no tax on tips, no tax on overtime, not to mention the border.
You might be tempted to think that we're blowing smoke selling this bill to you.
But when you hear our ideological and political enemies confirming everything we said, maybe now you will believe us.
And even some of the hardened critics online that were like, oh, this is a terrible bill, they're starting to do a little backpedal.
Beep, beep.
They're backing up a little bit because they start to realize that the people that are the sworn enemies of the United States, which Hakeem Jeffries is, he's a sworn enemy to this republic.
He is now, this is the worst bill ever.
Ooh.
Well, if you don't like it, I love it.
Because we are going to unleash that deportation machine to get done what we need to get done.
It'll be messy at times.
There'll be speed bumps.
It's not always easy.
But I'll tell you right now, we're going to get it done.
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So what does this mean for the American economy?
Well, joining us on the next segment will be Treasury Secretary Scott Besson.
We're going to go through all of the economic implications of this bill and understand, if you were to rank it, what is the most important part of the agenda?
What is the most important part of the mandate?
If you had to rank it, is it no men and female sports?
That's important.
Is it foreign policy?
What is the Most important thing, the centerpiece of President Trump's political journey from the escalator to July 4th signing ceremony, the centerpiece is mass migration.
Now, just understand how far we have come, and admittedly, how far I have come.
We've all come on this journey together.
I have become more focused and definitely deeper of understanding on the immigration issue.
We went from, it was controversial to say build the wall.
That was like a major controversy.
And President Donald Trump, what we're about to see happen with the signing of this bill is a masterclass in the Overton window.
What is the Overton window?
We explain this every so often on our program.
The Overton window is a political theory that describes the range of ideas considered acceptable or mainstream.
The spectrum goes from unthinkable to radical to acceptable to sensible to popular to policy.
It's a six-step move.
What you are witnessing in real time is the movement of the Overton window over a decade.
This is a political science class, so take out your pencils and your pens, everybody.
I'm about to walk through it in about four minutes.
So the Overton window goes through the spectrum very quickly of something that is totally unthinkable.
So 10 years ago, it was unthinkable in public life, in politics, and in the Republican Party to say that we need mass deportations.
You would be called a racist.
They would kick you out and they'd say you're a terrible person.
It was even controversial to say, let's build the wall.
What President Trump did is he moved the unthinkable, building the wall, into what was then considered radical.
So it goes from unthinkable to radical.
And then it became acceptable and then it became sensible.
Thank you.
That's right there.
Sensible, then popular, then policy.
But no one, even in the first term, think about it.
In our first term, we didn't even talk about mass deportations because we were talking about the wall all the time.
Now we don't even bat an eye at the wall.
People roll their eyes.
Okay, great.
$40 billion for the wall.
But what about the deportations?
And that is the power of the Overton window.
Because now the wall is popular policy.
No one even disagrees with it.
Yeah, yeah, fine, build the wall.
But what about all these people in my community that are raping and stealing and chasing kids?
And so what happened when President Trump is he kept on moving issues through the Overton window by just magnitudinal force, by just unapologetic grit, by size of personality.
And again, the last, let's get that up there.
The last piece of the Overton window is what?
Policy.
You win when what you start as a salvo, as narrative, as rhetoric, becomes policy.
Joseph P. Overton coined this term many years ago.
And think about how the left has used it.
They used it for same-sex marriage.
They used it for DEI.
They used it for marijuana legalization.
They used it for the transgenderism.
And by the way, the Overton window could go back because the Overton window on transgenderism became policy.
And then we knocked it back to popular, sensible, acceptable.
And now transgenderism is considered to be radical or unthinkable.
So it can go both ways.
But President Donald Trump, do you notice he's never gone backwards in the Overton window?
This is the most important, profound point of the Trump presidency, the Trump movement over 10 years.
The Democrats have gone backwards in the Overton window.
President Trump has only gone forwards.
Not a single issue that President Trump has championed over the last 10 years has he gone backwards in the Overton window spectrum.
He has only gone forwards where the Democrats have gone nowhere but backwards on the Overton window.
They've gone backwards on war.
They've gone backwards on trans issues.
They've gone backwards on every major cultural issue.
This is 438.
We don't have time to play it, but Bill Melusian saying in June, there were zero illegal immigrants released into the United States.
So what President Trump did and what is now culminating in a massive signing ceremony tomorrow is the crescendo.
It is the final move of he started at a campaign rally a decade ago when everyone thought he was a joke at Trump Tower.
And he said, they're coming into our country.
We have to build the wall and we have to remove them.
And people laughed.
No one else would have had the strength and the endurance and the guts to do it.
The old Republican Party retreated on every single issue and Trump advanced from the unthinkable to the radical, the acceptable to the sensible to the popular.
And tomorrow on Independence Day, that 10-year journey becomes policy.
Hey, everybody, Charlie Kirk here.
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We are honored to have the Treasury Secretary of the United States.
And honestly, one of the unsung heroes of this administration, just a loyal operator executing on the president's agenda.
And all of a sudden, you look at the market and we're at record highs and he's been a superstar.
It is Scott Bessant, Mr. Secretary, great to see you.
Thank you for joining us.
First, I just want to say you have kept your head down and we have trade deals with Vietnam and inflation is low and wage growth is up and we have trusted you and trust the process.
Before we get into the big, beautiful bill, what is the state of the American economy?
It's in transition, Charlie.
And again, thanks for having me.
Thanks for everything you do.
The economy is in transition.
As I've said, we are reprivatizing the economy.
We had this blowout government spending from the Biden years, biggest that we'd ever seen, 6.7% deficit to GDP when we weren't at war or weren't in a recession.
So we are taking away from the government spending, bringing it over to the private sector.
And the centerpiece on that, President Trump is going to sign tomorrow the one big beautiful bill is going to create what I call parallel prosperity.
So it is the Tax Cuts and Jobs Act and the power of that for business.
And then for working Americans, no tax on tips, no tax on overtime.
85% of seniors will not be paying tax on Social Security.
And you will be able to deduct auto loans for American-made cars.
So I think that the transition will begin tomorrow if the Hakeem Jeffries can ever sit down and let the Republicans vote.
And then on Monday, I think that we are going to unleash a capital spending boom in the U.S., which will first manifest itself in construction and then lead to a pickup in manufacturing jobs like we haven't seen in decades.
So now emphasizing the Big Beautiful Bill even further, I am doing every fall and spring a massive campus tour.
And young people repeatedly are worried that they are entering a renting economy, not an ownership economy, that they want to be able to have the same access to buying a home and buying assets like their parents did.
What does this bill do to help the next generation, specifically those that are graduating college, to be able to have their piece of the American dream, be able to own homes and not just be lifelong renters?
Well, out of the blocks, I think we are going to see that it will increase real wages.
It's going to bring down inflation.
And for your generation, you've gotten a bad deal.
That the Biden administration, the great inflation post-COVID, which they knew was coming, but they didn't care because they wanted to blow out the spending.
They also put on substantial regulations.
So what happens was you got a demand shock from the government, but then all this regulation created the inflation.
So that created supply constraints.
That's how you get inflation.
So what we are doing is we are going to create a demand shock.
We are going to see the private sector take over.
And the private sector is how you get good paying jobs where you can get real wage increases in excess of inflation.
And on the other side, away from the one big beautiful bill, the rest of our agenda is deregulation.
And there's a thought that deregulation would bring costs for the average household.
So let's say for a single average household will be about $10,000.
So let's say for a single person, that'd be about $2,500.
So we are laser focused on ending this affordability crisis.
Once we have finished trade and taxes here at Treasury, we're going to take on the student loan portfolio.
We don't have a solution for what's going on there, but I do think that just forgiving student debt was unacceptable.
But I think that there is a firm and humane way to deal with the student debt crisis.
And we are going to be focused on that here at Treasury because for many young Americans, they've started out post-college with the equivalent of a mortgage.
So we're going to be working on that.
But the real thing here, and again, it's depending on what you're doing, is I started my career out.
I lived on tip wages.
So no tax on wages is a pretty good start.
The no tax on tips, by the way, is major.
We're going to see now more money in consumers' pockets, which will stimulate bottom-up consumer spending.
But I do want to, and I love all of that.
And I agree with you on the student loan situation.
First of all, we shouldn't penalize the blue-collar workers that don't have student loans, but we have to find some way to navigate this.
I think we got to get colleges to start to pay it.
That's my opinion.
Start to have colleges have some portion of the student loan repayment.
But I want to put 439 up on screen here.
This is the real blue-collar wage growth.
This is a remarkable accomplishment, Mr. Secretary, that I know you want to emphasize.
Walk us through what we are seeing on this chart here.
This is officially from the Department of Treasury.
It's year-to-date real hourly earnings, growth for production and non-supervisory workers.
What are we looking at here?
So, Charlie, what it shows us is that President Trump is the working American president.
So for the first five months of any presidential term here, we go back to Richard Nixon.
President Trump's current term since January 20th has seen the fastest blue-collar wage growth, 1.7% real hourly earnings.
And that the second biggest wage growth was in President Trump's first term.
So we can see the dedication that his policies have for working Americans.
And all this is before the one big, beautiful bill kicks in.
And so you've mentioned this on previous segments, and I want to emphasize this.
The tariffs we were told were going to collapse the economy.
We were told that the entire trade portfolio was going to result in just economic collapse.
What would you say is driving this?
And how will tariffs then play into this massive tax cut deregulatory agenda?
So, Charlie, it's amazing what President Trump has done since January 20th.
And maybe we'll talk about it later, but it's peace deals, trade deals, and tax deals, which everyone said couldn't be done or certainly couldn't be done by the 4th of July.
We've all seen he has transformed the discussion in the Middle East, Congo and Rwanda, which hasn't gotten much publicity.
He's working on Russia-Ukraine.
We're going to sign this tax deal tomorrow.
And then to your question on tariffs, we have changed the discussion here on the trade fairness with the U.S. The president has used tariffs.
As I always say, Alexander Hamilton was the original tariff man.
He liked tariffs for two reasons.
One, to protect U.S. industry.
Two, revenues for the Treasury.
And now three, President Trump is now using tariffs to negotiate.
And here at Treasury, at the Commerce Department, USTR, the trade representative, there is long-term senior staff who in 20, 30 years said that they have never seen the deals that we are getting from tough countries, like Vietnam, some of the other trade deals that we're going to announce.
But the dog that didn't bark was the idea that tariffs were going to collapse the economy.
They were going to create big inflation, that they were going to kill the stock market.
As you said earlier, we're at a new high in the market.
And for my 35-year career in the financial investment business, I always listened to what the market was telling me.
And the market is saying that this is good for the economy.
And in terms of paying down debt, I don't agree with the CBO scoring on the deficit, but I always counter the people who want to quote the CBO.
I said, CBO says that there's going to be $2.8 trillion, $2.8 trillion of tariff income over the next 10 years.
And that pays down a lot of debt.
Yeah, and it offsets the working class tax cuts.
It offsets the necessary tax cuts.
In closing here, Mr. Secretary, I know you got to run and you have a lot in front of you.
Of all the big beautiful bill elements, what parts are you most excited about that you don't think have gotten adequate media attention?
We have the $1,000 baby investment account.
We have obviously some drill baby drill.
What do you wish as Treasury Secretary of the United States would get more attention that you think is going to supercharge growth in the economy?
Parts of this major bill, please.
I think, Charlie, what I like about this bill is the parallel prosperity.
So it's good for business, good for working people.
And the intersection of that is really in this 100% expensing for equipment.
And for the next five years, you're going to be, if you're building a factory in the United States, you're going to be able to expense 100% of the factory structure.
So we have made the United States of America the best place to start a business, deregulation, tax certainty.
But now you can write the entire, all your equipment expenses off in one year.
And I tell you, in the first Trump term, that is what drove the growth because it is real after-tax returns or what drive productivity.
And we are in the middle of this big productivity boom.
So as I said, I would expect starting on Monday, all these projects that have been on hold waiting for the certainty for the tax bill, this expensing is going to be very powerful.
And we made it permanent.
Are we going to see any rate cuts?
I know you can't tell us any insight information, but too late, Powell.
What is going on here?
Because we need to start to see rate cuts.
It's major for the economy.
The market's pricing in, two rate cuts for the year, that seems about right.
The two-year bond is much lower than the overnight rate.
And when asked about the Fed, I said, look, if they don't go sooner, it just means they have to do more later, which is the history of being late.
Well, President Trump has branded him as too late, pal.
Mr. Secretary, again, sincerely, you are working your tail off.
It's appreciated.
It's noticed.
And thank you for all of the accomplishments.
And it's hard to believe it's not even been six months.
We have your back.
Thank you so much.
Good, Charlie.
Thanks.
Always good to be with you.
You too.
Thank you.
What a great interview.
By the way, the market is up.
Inflation is down.
Blue collar wages are up.
And we are barely just touching the surface of this economic boom.
There is so much pent-up psychological optimism in this country that's just going to go up.
So much of the economy is mindset.
And we like to think the economy is just dollars and cents, but as someone who does investing and someone that has been behind major business decisions, we have 1,000 employees, $100 million we raise a year, I could tell you a lot of business is psychology.
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What a phenomenal interview with Scott Besson.
So much of the economy is psychological.
A steady hand is so key.
So right now, you might not think it impacts you.
Right now, there are 10,000 conference rooms filled with bean counters, accountants, which is fine, lawyers, which are, they're the no people.
They tell you no all the time.
And then there is the CEO and maybe kind of a VP.
And they have to game out their financial decisions and their investments for the next two or three years.
So let's just take a company like Chili's, Baby Back Ribs, which Chili's is actually doing very well right now.
They're like a rocket ship.
Chili's is now sitting in their conference room and they're trying to figure out, are we going to build new restaurants?
Are we going to hire more people?
Are we going to expand new locations?
Are we going to diversify our menu?
Are we going to upgrade?
Are we going to be cautious?
Take other, you could take a million different examples of this, literally tens of thousands of examples.
Hilton Hotels.
Hilton Hotels is sitting right now in their conference room and they say, what is the vibe?
And they're starting to realize that investment money is pouring into this country, the tax bill.
So then they get a signal of psychology.
It's not just numbers.
So much of business is trying to peek around the corner and see what is coming next.
And President Donald Trump is doing something that Biden never did and Obama never did.
He's just relentlessly bragging and cheerleading on the country.
I know this might sound silly, but just having a cheerleader for America and the American economy does so much.
President Trump saying we're the hottest country.
Invest, spend.
All of a sudden, people psychologically start to act that way.
Gas prices are going down.
So take the Chili's example.
Chili says, wow, we get 100% depreciation.
Let's go redo a lot of our restaurants.
Or Chipotle or Starbucks or whatever brand Olive Garden.
It doesn't matter.
So 100% depreciation will unleash capital expenditures.
You might say, oh, how does that help me?
That's a tax cut for the rich.
You see, that's why Hakeem the Dream dollar store Obama doesn't understand any of this.
So let's say Chili's baby back ribs says we are now going to take advantage of the 100% depreciation tax cut, 100%, and we're now going to redo 100 restaurants.
Well, who does that work then?
Well, the welders, the carpenters, the electricians.
All of a sudden, you guys are going to have more work than you can handle, and you already have a bunch of work.
How about the 100% depreciation when it comes to heavy machinery?
John Deere, the auto manufacturing, for buying American cars.
We're going to see huge demand and capital incentives on the tax code to then invest.
Right now, the conference rooms are filled with decision makers.
And I could tell you, because I talk to a lot of them, I have a Zoom call today.
Literally, as soon as the call is done, the call is done.
As soon as the show is done, I have literally two Zoom calls with multiple billionaires.
I could tell you, and I ask them, I love asking them questions.
And by the way, tonight I have another dinner.
Literally today, I'm talking to decision makers, and they're like, man, the vibes are back.
There's a lot of investment chatter.
Things are feeling better.
We're opening more restaurants.
We're investing in more hotels.
We're buying more land.
We're revamping.
We're redoing.
This is going to push job growth and labor growth for the welders, the framers, the foundation layers, electricians, and the roofers.
And also the business managers and the managers.
It's actually a bottom-up, top-down victory.
It's a full-spectrum economic reset.
And then here's where it gets fun.
The rest of the world sees it, because remember, we're only 5% of the world's population, and they want to invest here, too.
So you have the ruling class of Saudi Arabia, of the Emirates.
Well, not of Iran, they can go to hell.
The ruling class of Qatar, the ruling class of Vietnam.
All of a sudden, they want to invest in this country.
And this pushes back against the Mamdanis, the Luigis, the AOCs.
And remember that?
The trifecta.
I want you to commit that to memory.
It's very important.
The Mamdani, Luigi, AOC.
That is the resentment, bitter, dangerous version of the Democrat Party.
When the workers get a shot in the arm, when the economy works for the workers, all of a sudden things are going to start to get better.
But I can tell you right now that the psychological capital expenditures are going to increase because the vibes are back.
Right now in those conference rooms, people are talking about expansion because if you don't grow, you die.
And if you miss a growth curve, understand that if you are running like a Chili's or a Chipotle or a Starbucks and you play it conservatively and you don't grow when your competitors grow, that could be the difference between succeeding or bankruptcy.
And no one wants to be left out.
So what President Trump has done is he has created the biggest, most compelling financial FOMO in American history.
And every single conference room is now filled with decision makers that want to get in.
And you're going to see an economic boom that is significant, legitimate, and bottom-up.